Annual General Meeting approves record dividend

Tuesday, 8th June 2021

Austria

Record dividend of EUR 0.30 per share resolved
2021 FY guidance and Agenda 2023 targets confirmed
Remuneration policy adjusted - focus on ESG improvements
Audit, Nomination, and Remuneration Committees remain majority independent

Vienna, June 8, 2021. At today's virtual 22nd Annual General Meeting of S&T AG (www.snt.at), all management proposals were approved by a large majority of the company's shareholders. Rounded 57% of the share capital was represented.

Record dividend

At today's Annual General Meeting, a dividend of EUR 0.30 was approved for the 2020 financial year. In 2020, due to the utilization of governmental COVID-19 pandemic grants, no dividend had been paid for the fiscal year 2019. The decision to increase the dividend was based on the Group's once again improved earnings situation and strong cash flow in fiscal 2020: revenues increased by 12% to EUR 1,254.8 million in 2020 (PY: EUR 1,122.9 million) and EBITDA by 16% to EUR 130.0 million (PY: EUR 111.7 million). Net income increased by more than 13% to EUR 55.6 million (PY: EUR 49.1 million) in the same period.

The dividend will be paid out as of June 17, 2021, by crediting the account of the depositary banks. The ex-dividend date is June 15, 2021. The Austrian capital gains tax due on the dividend will be withheld by the company and paid to the responsible tax office. S&T AG has published a guideline on its investor relations website (https://ir.snt.at/Hauptversammlung.de.html) regarding the possible refund of capital gains tax for its shareholders.

Compensation policy for the Executive Board amended

The Annual General Meeting resolved to amend the compensation policy for the Executive Board based on the Supervisory Board's proposal. The changes relate to the deletion of the possibility for the Supervisory Board to grant special bonuses, the adjustment of the short-term incentive to more extensive financial indicators and, above all, the creation of a medium-term incentive that includes sustainability aspects. Specifically, the focus here is on improving the current ESG rating of the S&T Group (currently MSCI "B"). The aim is to improve the ESG rating to at least "BBB" by 2023 or to bring it closer to the best in the peer group.

Yolanda Wu elected to the Supervisory Board

The Annual General Meeting elected financial expert Ms. Yolanda Wu as a substitute member of the Supervisory Board. In the constituent Supervisory Board meeting following the Annual General Meeting, Ms. Wu moved up to the Supervisory Board as the only substitute member, after Max Lee had previously resigned from office. Thus, in addition to Ms. Claudia Badstöber, the Chairwoman of the Supervisory Board, another member with experience in accounting and auditing is now present on the Supervisory Board. Due to her expertise, Ms. Wu was also elected as a member of the Audit, Nomination and Remuneration Committees. All Supervisory Board committees continue to have three members, the majority of whom are independent.

Confirmation of the Guidance for 2021 and 2023

The Executive Board report confirmed S&T AG's good start to the 2021 financial year, as well as the company's business forecasts for the current 2021 financial year and its targets up to 2023. S&T plans to achieve revenues of at least EUR 1.4 billion and profitability (EBITDA) of at least EUR 140 million in 2021, as well as to increase earnings per share to EUR 1. As part of its "Agenda 2023", the company plans to grow revenues up to EUR 2 billion and increase profitability (EBITDA) to EUR 220 million.

The recording of the 22nd virtually held Annual General Meeting of S&T AG (in German) is available at: https://ir.snt.at/virtuelleHauptversammlung/. In accordance with the TTS program, the questions from today's Annual General Meeting as well as the answers will be published on the website in the next few days.