PWO Annual General Meeting approves all agenda items with a large majority

Press Release

PWO Annual General Meeting approves all agenda items with a large majority

Carlo Lazzarini (CEO): "Following a successful 2023, we will continue to strengthen the PWO Group and further expand its global market position in 2024."

• Increase of the dividend per share from EUR 1.65 to EUR 1.75 for the 2023 financial year
• Confirmation of the forecast for 2024

Oberkirch, June 6, 2024- PWO AG held its Annual General Meeting 2024 yesterday; around 65 percent of the share capital was represented.

In his speech, CEO Carlo Lazzarini reported to the shareholders on how PWO - following on from the record-breaking year in 2022 - has once again pushed boundaries, broadened scope and opened additional prospects for the Group's further development with another outstanding performance in 2023.

The targets for 2023 were achieved for all key performance indicators. Expectations for EBIT before currency effects and the lifetime volume of new business were even raised twice over the course of the year. Shareholders are to participate in this strong development with an increased dividend.

A key focus of the Management Board's report was the strategic development of the PWO Group. By laying the foundation stone for a new engineering and production site in Serbia a few days ago, we are following our customers into one of the most dynamic countries in the European mobility industry and tapping into additional growth potential beyond the continued expansion of our existing Czech sites.

We are vigorously implementing the decarbonization of our business. In reducing greenhouse gases in Scope 1&2, we are moving faster than the 1.5-degree path required by the Paris Agreement. We offer our employees many ways to realize their personal career prospects at the PWO Group. At all levels and in all areas of our Group, we have therefore been able to develop strong personalities. Thus, we manage the PWO Group with a lean two-member Executive Board and at the same time implement an ambitious global growth strategy. Our success continues to be based on our completely combustion-independent business model and our high innovative strength, which we use to support our customers in ramping up the green mobility of the future.

The agenda of the 2024 Annual General Meeting included the presentation of the financial statements for the 2023 financial year as well as the resolutions on the appropriation of net profit, on the formal approval to the actions of the members of the Executive Board, on the formal approval to the actions of the members of the Supervisory Board and the election of the auditor of the financial statements, the auditor of the consolidated financial statements and the auditor of the sustainability report. Resolutions were also passed on the approval of the remuneration report and about the updated remuneration system for the members of the Executive Board. Various amendments to the Articles of Association were also resolved. All the resolutions proposed by the management were approved by a large majority at the Annual General Meeting.

The detailed voting results are made available on the PWO website at https://pwo-group.com/en/investors-press/annual-general-meeting/.

PWO AG

The Executive Board

Contact:
Charlotte Frenzel
Investor Relations & Corporate Communications

T. +49 179 / 6904 237
M. charlotte.frenzel.ext.ma@pwo-group.com