Magyar Telekom held its Annual General Meeting

MAGYAR TELEKOM HELD ITS ANNUAL GENERAL MEETING

Budapest, April 15, 2025 15:00

Magyar Telekom (the Company ) held its Annual General Meeting ( General Meeting ) on April 15, 2025.

At the beginning of the General Meeting, the shareholders were provided with the report of the Board of Directors on the Company's management, on the business operation, on the business policy and on the financial situation of the Company and the Magyar Telekom Group in 2024. The relevant reports of the Supervisory Board, the Audit Committee and the auditor were also presented.

The General Meeting approved the Companys 2024 Consolidated Financial Statements prepared in accordance with IFRS Accounting Standards as adopted by the European Union, including Statements of Financial Position Total Assets of HUF 1,530,073 million and Profit for the period 2024 of HUF 163,396 million; and the Companys 2024 Separate Financial Statements prepared in accordance with IFRS Accounting Standards as adopted by the European Union, including Statements of Financial Position Total Assets of HUF 1,420,624 million and Profit for the period 2024 of HUF 154,012 million. Furthermore, the General Meeting adopted the 2024 Consolidated and Separate Sustainability Statements.

Following the above, the General Meeting decided on the use of the profit for the year earned in 2024. Pursuant to the decision, the Company will pay a total dividend of HUF 90,858,108,400 to the shareholders from the profit of 2024, and the Company will distribute the dividend on treasury shares among the shareholders who are entitled to dividends. The Company shall disburse the dividend from the profit after tax of HUF 154,012,471,158 based on the Separate Financial Statement figures; and the remaining HUF 63,154,362,758 of the profit after tax shall be allocated to retained earnings, based on the Separate Financial Statements figures. The first day of dividend disbursement shall be May 20, 2025. The record date of the dividend payment shall be May 9, 2025. The Board of Directors will publish a detailed announcement on the order of the dividend disbursement on April 23, 2025, on the websites of the Company and the Budapest Stock Exchange.

The General Meeting were provided with the information of the Board of Directors on the treasury shares acquired after the authorization of April 16, 2024 and authorized the Board of Directors to purchase Magyar Telekom ordinary shares through the stock exchange or OTC trading. The purpose of the authorization is to execute Magyar Telekoms shareholder remuneration through a decrease of the share capital and to operate share-based incentive plans. The authorization shall be valid for a period of 18 months from the decision of the General Meeting.

Subsequently, the General Meeting approved the Corporate Governance and Management Report of the Company for the business year 2024, and - noting that the management activities of the Board of Directors were carried out in an appropriate manner - decided to discharge the members of the Board of Directors from liability with respect to the 2024 business year. Then the General Meeting amended the Company's Articles of Association in accordance with the proposal of the Board of Directors.

The General Meeting elected Daniel Daub, G bor Fekete, Andr Lenz, Mladen Mitic, Frank Odzuck, P ter Ratatics, Tibor R kasi and Melinda Szab as members of the Board of Directors of Magyar Telekom Plc. until May 31, 2028, provided that if the 2028 Annual General Meeting is held prior to May 31, 2028, then their mandate expires on the day of the Annual General Meeting.

The General Meeting elected Gyula Bereznai, Dr. Attila Borb ly, Krisztina Dorogh zi, Andr s Szakonyi, Zsoltn Varga as members of the Supervisory Board of the Company; Erika T thn R kosa as independent substitute member; Erzs bet Solt szn Par di as employee representative substitute member. Dr. Attila Borb ly, Krisztina Dorogh zi, Andr s Szakonyi were elected as members of the Audit Committee; Erika T thn R kosa as substitute member. Their mandate shall end on May 31, 2028, provided that if the 2028 Annual General Meeting is held prior to May 31, 2028, then their mandate expires on the day of the Annual General Meeting. Erika T thn R kosas mandate shall commence with the condition and at the time if and when the number of the independent members of the Supervisory Board and thus the number of the members of the Audit Committee falls below three. Erzs bet Solt szn Par dis mandate shall commence with the condition and at the time if and when the number of the employee representative members of the Supervisory Board falls below two.

After this, the shareholders elected Deloitte Auditing and Consulting Ltd. as the Companys Statutory Auditor to perform the audit duties for the 2025 business year until May 31, 2026, and for the period up to the Annual General Meeting closing the 2025 business year, furthermore, approved the content of the essential elements of the contract to be concluded with the Statutory Auditor; additionally as auditor providing assurance on the Company's sustainability statements for the 2025 business year until the date of the General Meeting approving the financial statements for the 2025 business year, but no later than May 31, 2026.

In accordance with the submissions, the General Meeting approved the amended Remuneration Policy of the Company and the Remuneration Report for the business year 2024.

In accordance with Magyar Telekoms corporate social responsibility efforts, the Hungarian Food Bank Association, a non-profit organization that helps reducing food waste and deprivation, contributed to the General Meeting catering again this year.

LINK:	http://www.telekom.hu/press_room/press_releases/2013/april_12...
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