Shareholders approve all agenda items by clear majority at ProSiebenSat.1 Annual General Meeting

Shareholders approve all agenda items by clear majority at ProSiebenSat.1 Annual General Meeting

ProSiebenSat.1 holds first virtual Annual General Meeting

Annual General Meeting follows recommendation for one-time dividend withdrawal for 2019, adopts all proposed resolutions, and grants discharge to the Executive Board and Supervisory Board

Dr. Antonella Mei-Pochtler duly elected as new Supervisory Board member

Unterfoehring, June 10, 2020. The Annual General Meeting of ProSiebenSat.1 Media SE was held today in Unterfoehring. Due to the environment created by COVID-19, the event was held virtually for the first time in the company's history, without the physical presence of the shareholders or their proxies. The Group therefore decided to broadcast the event online from its in-house Galileo studio.

Rainer Beaujean, Chairman of the Executive Board & CFO of ProSiebenSat.1 Media SE, commented at today's Annual General Meeting: Although our highest priority at the moment is to steer ProSiebenSat.1 safely through the COVID-19 crisis, we have the time after the coronavirus firmly in view. Our focus therefore remains on transformation, digitalization, and top entertainment. But with a clearly sharpened attention on the right implementation, measurable progress, and a clear results orientation.

The shareholders agreed to the Executive Board's and Supervisory Board's proposal to carry forward the full amount of the balance sheet profits to the new accounting period and thus to not pay out a dividend for financial year 2019. This one-time measure secures additional liquidity of EUR 192 million for the Group in the uncertain environment caused by COVID-19. At the same time, the Group confirmed its current dividend policy with a payout ratio of 50% of the Group's adjusted net income.

In another agenda item, the Annual General Meeting elected Dr. Antonella Mei-Pochtler as new Supervisory Board member by a clear majority. Mei-Pochtler is an independent entrepreneur as well as a senior advisor at the Boston Consulting Group and special advisor to the Austrian Chancellor. She was already appointed as member of the Supervisory Board by court order with effect from April 13, 2020, taking over from Angela Gifford, who had resigned with effect from January 13, 2020.

In addition, the Annual General Meeting granted discharge to the Executive Board and Supervisory Board for the financial year 2019 by a clear majority and adopted all other proposed resolutions requiring approval also by a clear majority.

Rainer Beaujean commented on the voting results: The very positive voting results show that our shareholders are backing our strategy: We are focusing on our core business entertainment with the goal of being the leading player in Germany, Austria and Switzerland. At the same time, we are increasing the synergies within our group.

Prior to the Annual General Meeting, the shareholders had submitted a total of 115 questions, some of which consisted of several individual questions. The Executive Board and the Supervisory Board answered all of these in the discussion. This could be followed by registered shareholders via the shareholder portal. For the interested public, the Group broadcast the public part of the Annual General Meeting as a live stream on the companys website.

Further information on the Annual General Meeting, including an overview of the voting results, can be found at:

https://www.prosiebensat1.com/en/annual-general-meeting

Photos are available for download here:

https://www.prosiebensat1.com/en/press/downloads/photos-events

https://www.prosiebensat1.com/en/newsroom/downloads/photos-people

LINK:	https://en.prosiebensat1.com/en/press/shareholders-approve-all-agenda-...
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