Legrand

Combined Ordinary and Extraordinary Meeting of Shareholders of May 25, 2022 Report

Regulatory News:

Legrand’s (Paris:LR) Combined Ordinary and Extraordinary Meeting of Shareholders took place on May 25, 2022 and was chaired by Angeles Garcia-Poveda, Chairwoman of the Board of Directors.

I. Main voting results of the Combined Ordinary and Extraordinary Meeting of Shareholders

All resolutions put forward by the Board of Directors were approved.

In particular, shareholders approved:

• the renewal of Olivier Bazil’s term of office as a director for a period of three years; Mr. Bazil is also a member of the Nomination and Governance Committee and of the Commitments and CSR Committee;
• the renewal of Edward A. Gilhuly’s term of office as a director for a period of three years; Mr. Gilhuly is also a member of the Commitments and CSR Committee;
• the renewal of Patrick Koller’s term of office as a director for a period of three years; Mr. Koller is also a member of the Nomination and Governance Committee and of the Compensation Committee; and
• the appointment of Florent Menegaux as an independent director for a period of three years.

As a result, the Board of Directors consists of 14 members (including two directors representing employees):

• ten independent members, a proportion of 83%¹, which exceeds the 50% minimum level recommended by the Afep-Medef Code of Corporate Governance;
• five women, a proportion of 42%¹;
• five nationalities: American, French, German, Italian and Spanish.

As a result, the composition of the Board of Directors is in line with industry best practices.

Shareholders in the meeting also approved the payment of a dividend of €1.65 per share with respect to 2021². The ex-dividend date will be May 30, 2022 and the dividend will be paid on June 1, 2022.

II. Responsible and profitable growth model

In the Shareholders’ meeting, CEO Benoît Coquart presented the Legrand model. The Group operates in a buoyant industry and has a unique, value-creating profile. It is perfectly positioned, particularly since nearly two thirds of its sales are derived from leading positions³.

Supported by structurally favorable long-term market trends and balanced geographical positions, Legrand is accelerating its value creation, particularly through innovation (organic growth) and bolt-on acquisitions. For example, the Group has strengthened its positions in faster expanding segments – datacenters, connected solutions as part of the Eliot program, and energy efficiency – which together accounted for 33% of its sales⁴ in 2021, and it intends to increase that proportion to 50% in the medium term.