Legrand

Combined General Meeting of Shareholders of May 26, 2021

Regulatory News:

Legrand (Paris:LR):

The Combined (Ordinary and Extraordinary) General Meeting of Shareholders met on May 26, 2021, in a closed session chaired by Angeles Garcia-Poveda, the Chairwoman of the Board of Directors.

I. Main results of voting at the Combined General Meeting

All the resolutions submitted by the Board of Directors passed with a large majority.

The General Meeting notably voted in favor of:

• reappointing Annalisa Loustau Elia, Chairwoman of the Compensation Committee, as a director for a three-year term of office, and
• appointing Jean-Marc Chéry as a director for a three-year term of office.

Accordingly, of the 12 members¹ making up the Board of Directors:

• nine are independent directors, representing a ratio of 75%, which is higher than the 50% minimum ratio recommended by the Afep-Medef Code of Corporate Governance;
• five are women, representing a proportion of 42%;
• five nationalities are represented by American, French, German, Italian and Spanish nationals.

The composition of the Board of Directors thus meets the highest governance standards.

The General Meeting also approved payment of a dividend of €1.42 per share in respect of 2020². The ex-dividend date is May 28, 2021, with the payment on June 1, 2021.

II. A business model serving our purpose and responsible crisis management

During the General Meeting, Benoît Coquart, Chief Executive Officer, commented on Legrand’s business model. Legrand is positioned in a vast addressable market, with an extensive range of products for all buildings. Its solid fundamentals drive responsible profitable growth over the long term (innovation, complementary acquisitions and a structured ESG³ strategy it has pursued for over 17 years now).

He then added that Legrand’s development is being led by experienced multidisciplinary Executive managers and empowered teams using robust management processes.

This model, which aims to meet the needs of all stakeholders, is embodied in the core purpose shared in 2020 of “improving lives by transforming the spaces where people live, work and meet, with electrical and digital infrastructures and connected solutions that are simple, innovative and sustainable”.

Benoît Coquart stated that Legrand’s business model prompted a mobilization led in a spirit of responsibility and solidarity as soon as the pandemic struck. While actively supporting its customers, Legrand stood firmly alongside its communities and, more generally, made a balanced appeal to all stakeholders.