UNIVERSAL MUSIC GROUP BOARD PUBLISHES 2022 ANNUAL REPORT AND AGENDA FOR 2023 ANNUAL GENERAL MEETING OF SHAREHOLDERS; NOMINATES SIR LUCIAN GRAINGE FOR RE-APPOINTMENT AS EXECUTIVE DIRECTOR, HAIM SABAN FOR APPOINTMENT AS INDEPENDENT NON-EXECUTIVE DIRECTOR AN

HILVERSUM, Netherlands, March 30, 2023 /PRNewswire/ -- Universal Music Group N.V. ("UMG" or "the Company") today published its 2022 annual report and the agenda for its 2023 annual general meeting of shareholders ("AGM"), which is to be held on May 11, 2023, starting at 2:00 p.m. CEST, in Amsterdam, the Netherlands.

The agenda for the 2023 AGM and other meeting materials, including the 2022 annual report, are available at: https://investors.universalmusic.com. The 2022 annual report has also been filed with the Dutch Authority for the Financial Markets (the AFM) in European Single Electronic Format (ESEF).

On the agenda for the 2023 AGM is the proposed re-appointment of Sir Lucian Grainge as Executive Director for a five-year term (as set out in the press release of March 30, 2023, available at: https://investors.universalmusic.com/), the proposed appointment of Haim Saban as Independent Non-Executive Director for a two-year term as well as the proposed re-appointment of Sherry Lansing, Anna Jones and Luc van Os as Non-Executive Directors for a two-year term.

Although each of Sherry Lansing, Anna Jones and Luc van Os has previously been appointed for a period until the close of the 2024 AGM, the Board proposes that each of them is re-appointed early at the 2023 AGM to ensure the continuity on the Board and avoid a situation whereby all of the Non-Executive Directors retire at the same time, such in accordance with the Dutch Corporate Governance Code and the Company's Retirement Schedule for the Non-Executive Directors.

At the recommendation of the Nomination Committee, the Board has made a non-binding nomination for the (re-)appointment of the following Non-Executive Directors:

Appointment of Haim Saban
Independent Non-Executive Director

Haim Saban, 78, is an American citizen and an entrepreneur with more than four decades of experience building successful media and telecommunication businesses. He is the Chairman and CEO of Saban Capital LLC, a private Los Angeles-based investment firm that spans operations in real estate, venture capital, film and music.

A native of Alexandria, Egypt, Mr. Saban immigrated at 12 to Israel, attending agricultural school and serving in the Israeli Defense Force. In Israel, Mr. Saban built the country's premier tour promotion business. After the Yom Kippur War, Mr. Saban relocated in 1975 to France, where he started a successful independent record company that sold more than 18 million records in eight years.