No. 4 2020 Course of annual general meeting (AGM)

The AGM discussed and approved:

-      Management’s review and annual report for 2019 including statement by the Executive Board and the Board of Directors, and the independent auditor’s report.

-      Resolution on the allocation of profits in accordance with the approved annual report with dividends distribution of DKK 14.00 per share of DKK 100.

-      The Board of Directors’ authorisation to potentially pass a resolution to distribute extraordinary dividends of up to DKK 15.00 per share for the period until the next annual general meeting.

-      The Board of Directors’ authorisation to potentially pass a resolution to acquire treasury shares of up to 10% of share capital for payment for the period until the next annual general meeting.

-      Amendments to the company's articles of association:

       a)  New Article 11.1, no. 3 will be worded ”Indicative vote on approval of the remuneration report for the past financial year."

       b)  New Article 11.1, no. 4 will be worded: ”Approval of remuneration to the Board of Directors in the current financial year.”

       c)  Consequently, former Article 11.1, no. 3, 4 and 5 will be amended to Article 11.1, no. 5, 6 and 7.

       d)  Former Article 16.4 concerning guidelines for incentive programmes will be deleted.

       e)  Former Article 16.5 (now Article 16.4) will be amended from “The company’s Board of Directors has prepared a remuneration policy for Solar A/S’ Board of Directors and Executive Board. The remuneration policy was adopted at the company’s general meeting held on 1 April 2016 and is available at the company’s website at www.solar.eu.” to “The company’s Board of Directors has pursuant to section 139 of the Danish Companies Act prepared a remuneration policy for Solar A/S’ Board of Directors and Executive Board. The remuneration policy must be approved by the general meeting whenever a material amendment is made and at least every four years. The remuneration policy is available at the company’s website www.solar.eu.”