STOCKHOLM, Feb. 14, 2025 /PRNewswire/ -- The shareholders of AB Electrolux (publ), reg. no. 556009-4178 (the "Company"), are hereby given notice of the Annual General Meeting to be held on Wednesday, March 26, 2025, at 4.00 p.m. (CET) at Bio Skandia, Drottninggatan 82 in Stockholm, Sweden. Admission and registration will commence at 3.00 p.m. (CET).

The Board of Directors has decided that the shareholders shall have the possibility to exercise their voting rights by postal voting before the Annual General Meeting, as instructed below.

The Annual General Meeting will be webcasted live via Electrolux Group's website, www.electroluxgroup.com/agm2025.

The Annual General Meeting will be conducted in Swedish and simultaneously translated into English.

Registration and notification

Participation at the meeting venue

Shareholders who wish to participate at the meeting venue, in person or by proxy, must

be listed as a shareholder in the presentation of the share register prepared by Euroclear Sweden AB concerning the circumstances on Tuesday, March 18, 2025; and
give notice of its participation no later than Thursday, March 20, 2025
- by telephone +46 8 402 92 79 on weekdays between 9 a.m. and 4 p.m. (CET),
- by post to AB Electrolux, c/o Euroclear Sweden AB, Box 191, SE-101 23 Stockholm, Sweden, or
- via Euroclear Sweden AB's website, https://anmalan.vpc.se/EuroclearProxy/.

The notification shall include the shareholder's name, personal or corporate identification number, address and telephone number, and any assistants (two at most).

If a shareholder is represented by proxy, a written and dated proxy signed by the shareholder shall be issued for the representative. A representative for a shareholder that is a legal entity shall provide a registration certificate or other supporting document that shows the authorized signatory of the shareholder. In order to facilitate registration at the Annual General Meeting, the proxy and/or registration certificate or other supporting documents should be sent to the Company to the address above well in advance of the Annual General Meeting.

Proxy forms are available on Electrolux Group's website, www.electroluxgroup.com/agm2025 and are also provided by the Company upon request.

Postal voting

Shareholders who wish to participate in the Annual General Meeting by postal voting must

be listed as a shareholder in the presentation of the share register prepared by Euroclear Sweden AB concerning the circumstances on Tuesday, March 18, 2025; and
give notice of its participation by casting its postal vote in accordance with the instructions below so that the postal vote is received by Euroclear Sweden AB on behalf of the Company no later than on Thursday, March 20, 2025.

Shareholders who wish to attend the meeting venue in person or by proxy, must give notice in accordance with the instructions listed under "Participation at the meeting venue" above. Hence, a notification of participation only through postal voting is not sufficient for shareholders who also wish to attend the meeting venue.

A special form shall be used for postal voting. The form for postal voting is available at Electrolux Group's website, www.electroluxgroup.com/agm2025 and is also provided by the Company upon request.

The completed and signed form for postal voting shall be either sent by post to AB Electrolux, c/o Euroclear Sweden AB, Box 191, SE-101 23 Stockholm, Sweden, or by e-mail to GeneralMeetingService@euroclear.com. Shareholders may also cast their postal vote electronically through verification with BankID via Euroclear Sweden AB's website, https://anmalan.vpc.se/EuroclearProxy/.

If the shareholder submits its postal vote by proxy, a written and dated proxy signed by the shareholder must be enclosed to the form for postal voting. A representative for a shareholder that is a legal entity must enclose, to the form for postal voting, a registration certificate or other supporting document which shows the authorized signatory of the shareholder. Proxy forms are available on Electrolux Group's website, www.electroluxgroup.com/agm2025 and are also provided by the Company upon request.

The shareholder may not provide specific instructions or conditions to the postal vote. If so, the vote (i.e., the postal vote in its entirety) is invalid. Further instructions and conditions are included in the form for postal voting and at Euroclear Sweden AB's website, https://anmalan.vpc.se/EuroclearProxy/.

Shares registered in the name of a nominee

In order to be entitled to participate in the Annual General Meeting, by attending the meeting venue or by postal voting, a shareholder whose shares are registered in the name of a nominee must, in addition to giving notice of participation in the Annual General Meeting in accordance with the instructions above, register its shares in its own name so that the shareholder is listed in the presentation of the share register as of the record date on Tuesday, March 18, 2025. Such re-registration may be temporary (so-called voting rights registration), and request for such voting rights registration shall be made to the nominee, in accordance with the nominee's routines, at such time in advance as decided by the nominee. Voting rights registrations that have been made by the nominee no later than Thursday, March 20, 2025, will be taken into account in the presentation of the share register.

Agenda

Election of Chair of the Annual General Meeting.
Preparation and approval of voting list.
Approval of agenda.
Election of two minutes-checkers.
Determination as to whether the Annual General Meeting has been properly convened.
Presentation of the Annual Report and the Audit Report as well as the Consolidated Accounts and the Group Audit Report.
Presentation by the President and CEO.
Resolution on adoption of the Income Statement and the Balance Sheet as well as the Consolidated Income Statement and the Consolidated Balance Sheet.
Resolution on discharge from liability of the Directors and the President and CEO for 2024.
Resolution on dispositions in respect of the Company's profit or loss pursuant to the adopted Balance Sheet.
Determination of the number of Directors and Deputies.
Determination of fees to the Board of Directors and the Auditor.
Election of Board of Directors and Chair of the Board.
1. Geert Follens (re-election)
2. Petra Hedengran (re-election)
3. Ulla Litzén (re-election)
4. Torbjörn Lööf (re-election)
5. Daniel Nodhäll (re-election)
6. Karin Overbeck (re-election)
7. David Porter (re-election)
8. Michael Rauterkus (re-election)
9. Yannick Fierling (new election)
10. Torbjörn Lööf as Chair of the Board (re-election)
Election of Auditor.
Resolution on approval of the Remuneration Report.
Resolutions on
1. transfer of own shares on account of company acquisitions; and
2. transfer of own shares on account of the share program for 2023.
Resolutions on
1. implementation of a performance based long-term share program for 2025; and
2. transferring own shares to the participants in the long-term share program for 2025; or
3. entering into an equity swap agreement with a third party.
Closing of the Annual General Meeting.

Proposals for decisions

Item 1 - Election of Chair of the Annual General Meeting

AB Electrolux Nomination Committee, consisting of the Chair Christian Cederholm (Investor AB) and the members Marianne Nilsson (Swedbank Robur Funds), Anders Hansson (AMF Tjänstepension och Fonder), Carina Silberg (Alecta) and Torbjörn Lööf (Chair of the Board of AB Electrolux), proposes

Eva Hägg, member of the Swedish Bar Association, as Chair of the Annual General Meeting.

Item 2 - Preparation and approval of voting list

The voting list proposed for approval is the voting list drawn up by Euroclear Sweden AB on behalf of the Company, based on the Annual General Meeting's register of shareholders, shareholders having given notice of participation and being present at the meeting venue, and postal votes received.

Item 10 - Resolution on dispositions in respect of the Company's profit or loss pursuant to the adopted Balance Sheet

The Board of Directors proposes that no dividend shall be distributed for the fiscal year 2024 and that available funds shall be carried forward in the new accounts.

Item 11 - Determination of the number of Directors and Deputies

The Nomination Committee proposes that the number of Directors of the Company elected by the Annual General Meeting shall be nine and that no Deputies shall be appointed.

Item 12 - Determination of fees to the Board of Directors and the Auditor

The Nomination Committee proposes fees to Directors of the Board not employed by Electrolux Group as follows.

SEK 2,660,000 to the Chair of the Board and SEK 775,000 to each of the other Directors of the Board elected by the Annual General Meeting; and
for committee work, to the members who are appointed by the Board of Directors:
SEK 392,000 to the Chair of the Audit Committee and SEK 248,000 to each of the other members of the Audit Committee, SEK 212,000 to the Chair of the People Committee and SEK 145,000 to each of the other members of the People Committee, and SEK 360,000 to the Chair of the Strategic Planning Committee and SEK 205,000 to each of the other members of the Strategic Planning Committee.

In addition to the above fees, the Nomination Committee also proposes that the following meeting fee will be paid to each Director, for each Board meeting in Sweden such Director attends in-person:

For a Director domiciled in the Nordics: 0
For a Director domiciled in Europe outside the Nordics: EUR 1,500
For a Director domiciled outside Europe: USD 3,000

The Nomination Committee further proposes that the Auditor's fee be paid as incurred, for the Auditor's term of office, on approved account.

Item 13 - Election of Board of Directors and Chair of the Board

The Nomination Committee proposes that the following persons are elected to the Board of Directors until the end of the Annual General Meeting 2026.

Re-election of the Directors Geert Follens, Petra Hedengran, Ulla Litzén, Torbjörn Lööf, Daniel Nodhäll, Karin Overbeck, David Porter and Michael Rauterkus;
New election of Yannick Fierling as Director; and
Re-election of Torbjörn Lööf as Chair of the Board of Directors.

A presentation of the proposed Directors of the Board is available on Electrolux Group's website, www.electroluxgroup.com/agm2025.

Item 14 - Election of Auditor

The Nomination Committee proposes, in accordance with the recommendation by the Audit Committee, election of the audit firm Öhrlings PricewaterhouseCoopers AB as the Company's auditor for the period until the end of the Annual General Meeting 2026.

Item 16 - Resolutions on a) transfer of own shares on account of company acquisitions; and b) transfer of own shares on account of the share program for 2023

The Company has previously, on the basis of authorizations by the Annual General Meeting, acquired own shares for the purpose of using these shares to finance potential company acquisitions, as a hedge for the Company's share related incentive programs as well as to adapt the Company's capital structure. The Board of Directors considers it to be of continued advantage for the Company to be able to use repurchased shares on account of potential company acquisitions and the Company's share related incentive programs, and the Board of Directors therefore proposes the authorization to be renewed for the period until the following Annual General Meeting.

In view of the above, the Board of Directors proposes as follows.

a) Transfer of own shares on account of company acquisitions

The Board of Directors proposes the Annual General Meeting to authorize the Board of Directors, for the period until the next Annual General Meeting, on one or several occasions, to resolve on transfers of the Company's own shares of series B in connection with or as a consequence of company acquisitions as follows.

Own shares of series B held by the Company at the time of the Board of Directors' decision on the transfer may be transferred.
Transfer of shares may take place outside Nasdaq Stockholm as set out in Chapter 19, Sections 35-37 of the Swedish Companies Act.
The shares may be transferred with deviation from the shareholders' preferential rights. The reason for the deviation from the shareholders' preferential rights shall be that transfer of own shares enables alternative forms of payment for company acquisitions which according to the Board of Directors is beneficial for the Company and contributes to increased shareholder value.
Transfer of shares shall be made at a minimum price per share corresponding to an amount in close connection with the price of the Company's share of series B on Nasdaq Stockholm at the time of the decision on the transfer.
Payment for transferred shares may be made in cash, by contributions in kind or by a set-off of Company debt.

b) Transfer of own shares on account of the share program for 2023

The Board of Directors proposes that the Annual General Meeting resolves that the Company shall be entitled, for the period until the next Annual General Meeting, on one or several occasions, to transfer a maximum of 815,000 own shares of series B in the Company for the purpose of covering costs related to social security charges, that may arise as a result of the Company's obligations under the previously adopted share program for 2023. Such transfers shall take place on Nasdaq Stockholm at a price within the prevailing price interval for the Company's shares of series B at Nasdaq Stockholm from time to time.

Majority requirement

Valid resolutions in accordance with the Board of Directors' proposals a) and b) above require that shareholders holding no less than two thirds of the votes cast as well as the shares represented at the Annual General Meeting are in favor of the proposals.

Item 17 - Resolutions on a) implementation of a performance based long-term share program for 2025, and hedging arrangements by either b) transferring own shares to the participants in the long-term share program for 2025 or c) entering into an equity swap agreement with a third party

Background

The Board of Directors in the Company has decided to propose a performance based long-term incentive program for 2025 (the "Share Program 2025"). The proposed program is in all material aspects unchanged compared with the share program for 2024, with the exception that a one-year performance period shall be applied with respect to the financial performance target ('earnings per share') whilst the three-year performance period shall remain for the other performance target ('CO₂ reduction'). The Board of Directors is convinced that the proposed program will be beneficial to the Company's shareholders as it will contribute to the possibilities to recruit and retain competent employees in Electrolux Group, is expected to increase the commitment and the motivation of the program participants and strengthen the participants' ties to the Company and its shareholders.

Proposals of the Board of Directors

In view of the above, the Board of Directors proposes that the Annual General Meeting resolves a) to implement the Share Program 2025, and hedging arrangements by either b) transferring own shares to the participants in the Share Program 2025 or c) entering into an equity swap agreement with a third party.

a) Resolution on implementation of a performance based long-term share program for 2025

The Board of Directors proposes that the Annual General Meeting resolves to implement the Share Program 2025 with the following principal terms and conditions:

The program is proposed to include up to 800 senior managers and key employees of Electrolux Group, who are divided into seven participant groups; the President and CEO ("Group 1"), other members of Group Management ("Group 2"), and five additional groups for other senior managers and key employees ("Group 3-7"). Invitation to participate in the program shall be provided by the Company no later than on May 16, 2025.
Participants are offered to be allocated shares of series B in the Company ("Performance Shares"), provided that the participant remains employed until January 1, 2028. Exemptions to this requirement may be prescribed in specific cases, including a participant's death, disability, retirement or the divestiture through a sale, spin-off or otherwise of the participant's employing company from Electrolux Group.
The Performance Shares shall be based on maximum performance values for each participant group. The maximum performance value for the participants in Group 1 will be 100 per cent of the participant's annual base salary for 2025, for participants in Group 2, 90 per cent of the participant's annual base salary for 2025, for participants in Group 3, 80 per cent of the participant's annual base salary for 2025, for participants in Group 4, 60 per cent of the participant's annual base salary for 2025, for participants in Group 5, 50 per cent of the participant's annual base salary for 2025, for participants in Group 6, 40 per cent of the participant's annual base salary for 2025, and for participants in Group 7, 20 per cent of the participant's annual base salary for 2025. The total sum of the maximum values of the Performance Shares defined for all participants will not exceed MSEK 541 excluding social costs.
Each maximum performance value shall thereafter be converted into a maximum number of Performance Shares^[1], based on the average closing price paid for the Company's share of series B on Nasdaq Stockholm during a period of ten trading days before the day the participants are invited to participate in the Share Program 2025, reduced by the present value of estimated dividend payments for the period until shares are allotted.
The calculation of the number of Performance Shares shall be connected to performance targets established by the Board of Directors for the performance period, for Electrolux Group's (i) earnings per share^[2] and (ii) CO₂ reduction^[3]. The performance targets adopted by the Board of Directors will stipulate a minimum level and a maximum level, with the relative weight of the performance targets (i) and (ii) being 80 per cent and 20 per cent, respectively. For the participants in Group 1 and 2 (Group Management), the granted Performance Shares based on (i) and (ii) will be multiplied by 0.75-1.25 depending on the outcome of a relative total shareholder return target^[4]. The performance period is one year (financial year 2025) with respect to performance target (i) earnings per share and three years (financial years 2025-2027) with respect to performance target (ii) CO₂ reduction as well as three years (financial years 2025-2027) with respect to the relative total shareholder return target for the participants in Group 1 and 2 (Group Management).
Performance outcome of the established performance targets will be determined by the Board of Directors after the expiry of the respective performance period. If the maximum performance level is reached or exceeded, the allocation will amount to (and will not exceed) the maximum number of Performance Shares following from 3 and 4 above. If performance is below the maximum level but exceeds the minimum level, a proportionate allocation of Performance Shares will be made. No allocation will be made if performance amounts to or is below the minimum level. Information on the performance targets and the outcome will be provided no later than in connection with the allocation of Performance Shares in accordance with 7 below.
If all conditions in the Share Program 2025 are met, allocation of Performance Shares will take place in the first half of 2028. Allocation will be free of consideration except for tax liabilities.
Certain deviations in or adjustments of the terms and conditions for the Share Program 2025 may be made based on local rules and regulations as well as applicable market practice or market conditions or, where appropriate, due to group re-organizations, including cash settlement instead of delivery of shares under certain circumstances.
The Board of Directors, or a committee established by the Board for these purposes, shall be responsible for the preparation and management of the Share Program 2025, within the framework of the aforementioned terms and conditions.
If material changes would occur within Electrolux Group or on the market that, according to the Board of Directors' assessment, would lead to the conditions for allocation of Performance Shares no longer being reasonable, the Board of Directors shall also have the right to make other adjustments of the Share Program 2025, including e.g. a right to resolve on a reduced allotment of Performance Shares.

Costs for the Share Program 2025

The total costs for the Share Program 2025, if the maximum number of Performance Shares are delivered, are estimated to a maximum of MSEK 629, which corresponds to approximately 2.61 per cent of Electrolux Group's total employment cost for 2024. The costs will be recognized over the years 2025-2027, in accordance with IFRS 2. The costs have been calculated as the sum of salary costs, including social costs, and administration costs for the program. Administration costs are estimated to be less than MSEK 1. If no allotment of shares is made, only administration costs will arise.

The costs have been calculated based on the value, at the start of the program, of the Performance Shares that may be allotted at maximum performance, through transfer of own shares, with a reduction of the present value of estimated dividend payments during a three-year period. The estimate on maximum costs assumes maximum performance and that the number of participants that will leave Electrolux Group during the performance period is the same as the historical average since the introduction of share programs in 2004. In the calculation, a maximum share price of SEK 183 per share has been applied.

Hedging measures for the Share Program 2025

In order to implement the Share Program 2025 in a cost-effective and flexible manner, the Board of Directors has considered various methods for transfer of shares to the participants. The Board of Directors has found that the most cost-effective alternative is transfer of own shares and proposes as the main alternative that the Annual General Meeting resolves on transfer of own shares in accordance with item b) below.

Should the majority required under item b) below not be reached, the Board of Directors proposes that the Annual General Meeting resolves that the Company should be able to enter into an equity swap agreement with a third party in accordance with item c) below. The costs in connection with an equity swap agreement will be higher than the costs in connection with the transfer of own shares.

Number of shares, effects on key figures, etc.

The maximum number of Performance Shares that could be allotted to the participants under the Share Program 2025 shall be limited to 6,518,000, which corresponds to approximately 2.30 per cent of the total number of shares and 1.83 per cent of the votes in the Company.^[5] The Share Program 2025 does not result in any dilutive effect on share capital or votes. If repurchased own shares are allocated under the Share Program 2025, the number of outstanding shares in the Company will increase with not more than 6,518,000 shares of series B, which corresponds to a maximum dilutive effect on earnings per share of approximately 2.36 per cent.^[6] The dilutive effect on earnings per share is independent of the share price as Performance Shares are delivered free of consideration.

The total maximum increase in the number of outstanding shares of all outstanding share programs in the Company is estimated to be not more than 16,591,000 shares of series B, delivered free of consideration, corresponding to a dilutive effect on earnings per share of approximately 5.80 per cent.^[7] In this calculation, the maximum allotment of shares has been assumed for the share programs 2025, 2024 and 2023.

b) Resolution on transfers of own shares to the participants in the long-term share program for 2025

In order to secure the delivery of Performance Shares in accordance with the terms and conditions of the Share Program 2025, the Board of Directors proposes that the Annual General Meeting resolves that the Company shall transfer a maximum of 6,518,000 shares of series B in the Company on the following terms and conditions:

The right to receive shares shall be granted to participants within Electrolux Group covered by the terms and conditions pursuant to the Share Program 2025. Furthermore, subsidiaries within Electrolux Group shall have the right to acquire shares, free of consideration, and such subsidiaries shall be obligated to immediately transfer, free of consideration, shares to participants covered by the terms and conditions of the Share Program 2025.
The participant shall have the right to receive shares during the period when the participant is entitled to receive shares pursuant to the terms and conditions of the Share Program 2025.
Participants covered by the terms and conditions of the Share Program 2025 shall receive shares of series B in the Company free of consideration.
The number of shares of series B in the Company that may be transferred under the Share Program 2025 will be subject to recalculation as a result of intervening bonus issues, splits, rights issues and/or other similar corporate events.

c) Resolution on entering into an equity swap agreement with a third party

In the event that the required majority under item b) above cannot be reached, the Board of Directors proposes that the Annual General Meeting resolves that the expected financial exposure of the Share Program 2025 shall be hedged by the Company entering into an equity swap agreement with a third party on terms and conditions in accordance with market practice, whereby the third party in its own name may acquire and transfer shares of series B in the Company to employees who participate in the Share Program 2025. Indicative costs for an equity swap agreement amount to approximately MSEK 45.

Conditions

The Annual General Meeting's resolution to implement the Share Program 2025 in accordance with item a) above is conditional upon the Annual General Meeting resolving either in accordance with the proposal to transfer own shares of series B in the Company to participants in the Share Program 2025 in accordance with item b) above, or that an equity swap agreement with a third party may be entered into by the Company in accordance with item c) above.

Majority requirements

The resolution of the Annual General Meeting to implement the Share Program 2025 according to item a) above requires that more than half of the votes cast at the Annual General Meeting are in favor of the proposal. The resolution of the Annual General Meeting to transfer own shares according to item b) above requires that shareholders representing at least nine-tenths of the votes cast as well as the shares represented at the Annual General Meeting are in favor of the proposal. The resolution of the Annual General Meeting that the Company may enter into an equity swap agreement with a third party in accordance with item c) above requires that more than half of the votes cast are in favor of the proposal.

Preparation of the proposal for the Share Program 2025

The proposal for the Share Program 2025 has been prepared by the People Committee and the Board of Directors.

Other share related incentive programs

For a description of the Company's outstanding share related incentive programs, reference is made to the Annual Report for 2024, note 27, and the corporate governance section on Electrolux Group's website, www.electroluxgroup.com/en/. In addition to the programs described, no other share related incentive programs have been implemented.

Shares and votes

As of the day of announcement of this notice, there are in total 283,077,393 shares in AB Electrolux of which 8,191,804 are series A shares, each carrying one vote, and 274,885,589 are series B shares, each carrying one-tenth of a vote, corresponding to in total 35,680,362.9 votes. As of the same date the Company holds 12,581,075 own shares of series B, corresponding to 1,258,107.5 votes that may not be represented at the Annual General Meeting.

Shareholders' right to receive information

The Board of Directors and the President and CEO shall at the Annual General Meeting, if any shareholder so requests and the Board of Directors considers that it can be done without material harm to the Company, provide information regarding circumstances that may affect the assessment of an item on the agenda and circumstances that may affect the assessment of the Company's or its subsidiaries' financial situation and the Company's relation to other group companies. Shareholders wishing to submit questions in advance may send them to AB Electrolux, Attn: Office of the General Counsel, SE-105 45 Stockholm, Sweden or by e-mail at agm@electrolux.com.

Documents

The complete proposals from the Board of Director and the Nomination Committee are set out above. Proxy forms, postal voting form, a presentation of about the persons proposed as Directors of the Board, and the Nomination Committee's explanatory statement etc., can be found on Electrolux Group's website, www.electroluxgroup.com/agm2025. The Annual Report, the Auditor's Report, the Auditor's statement pursuant to Chapter 8, Section 54 of the Swedish Companies Act regarding the Remuneration Guidelines, and the Remuneration Report pursuant to Chapter 8, Section 53 a of the Swedish Companies Act, will be available no later than Wednesday, March 5, 2025 at AB Electrolux, S:t Göransgatan 143, SE 105 45 Stockholm, Sweden and on Electrolux Group's website, www.electroluxgroup.com/agm2025. The documents will also be sent to shareholders who so specifically request and state their address.

For information on how your personal data is processed, see

https://www.euroclear.com/dam/ESw/Legal/Privacy-notice-bolagsstammor-engelska.pdf.

If you have questions regarding our processing of your personal data, you can contact us by emailing privacy@electrolux.com. AB Electrolux has company registration number 556009-4178 and the Board's registered office is in Stockholm, Sweden.

Stockholm, February 2025
AB Electrolux (publ)
The Board of Directors

^[1] With a possibility for the Board of Directors to make adjustments for extraordinary events such as bonus issue, split, rights issue and/or other similar events in accordance with customary practice for corresponding incentive programs.

^[2] Earnings per share as defined in the financial statements (with a possibility for the Board of Directors to make adjustments for extraordinary events).

^[3] The CO₂ reduction target refers to greenhouse gas reductions within the following two areas: (i) operations and (ii) energy from product use, with the relative weight of the performance targets being 25 per cent for area (i) and 75 per cent for area (ii). The target will be measured on selected predefined product categories and regions.

^[4] The relative total shareholder return target refers to the Company's total shareholder return ("TSR") (share price appreciation added by sum of all dividends received during the performance period) performance versus the FTSE EMEA Consumer Discretionary index during 2025-2027. If the Company's TSR is at or below the lower quartile of the index, a multiplier of 0.75 will apply. If TSR is at or above the upper quartile, a multiplier of 1.25 will apply. If TSR is below the upper quartile but exceeds the lower quartile a proportionate multiplier between 0.75 and 1.25 will apply. The Board of Directors will have the possibility to make adjustments for extraordinary events such as a change of the composition of the index during the performance period.

^[5] With a possibility for the Board of Directors to make adjustments for extraordinary events such as bonus issue, split, rights issue and/or other similar events in accordance with customary practice for corresponding incentive programs.

^[6] Outstanding shares defined as the total number of issued shares in the Company reduced by the number of own shares held by the Company.

^[7] Outstanding shares defined as the total number of issued shares in the Company reduced by the number of own shares held by the Company.

For further information, please contact Electrolux Press Hotline, +46 8 657 65 07.

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