UNIVERSAL MUSIC GROUP BOARD PUBLISHES 2023 ANNUAL REPORT AND AGENDA FOR 2024 ANNUAL GENERAL MEETING OF SHAREHOLDERS

NOMINATES VINCENT VALLEJO FOR RE-APPOINTMENT AS EXECUTIVE DIRECTOR, ERIC SPRUNK AND MANDY GINSBERG FOR APPOINTMENT AS NON-EXECUTIVE DIRECTORS, AND BILL ACKMAN, CATHIA LAWSON-HALL, CYRILLE BOLLORÉ, JAMES MITCHELL, MANNING DOHERTY, MARGARET FREREJEAN-TAITTINGER AND NICOLE AVANT FOR RE-APPOINTMENT AS NON-EXECUTIVE DIRECTORS

HILVERSUM, Netherlands, March 28, 2024 /PRNewswire/ -- Universal Music Group N.V. ("UMG" or "the Company") today published its 2023 annual report and the agenda for its 2024 annual general meeting of shareholders ("2024 AGM"), which is to be held on May 16, 2024, starting at 2:00 p.m. CEST, in Amsterdam, the Netherlands.

The agenda for the 2024 AGM and other meeting materials, including the 2023 annual report, are available at: https://investors.universalmusic.com. The 2023 annual report will also be filed with the Dutch Authority for the Financial Markets (the AFM) in European Single Electronic Format (ESEF).

On the agenda for the 2024 AGM is the proposed re-appointment of Vincent Vallejo as Executive Director for a one-year term, the proposed appointments of Eric Sprunk and Mandy Ginsberg as new Non-Executive Directors for a two-year term as well as the proposed re-appointments of Bill Ackman, Cathia Lawson-Hall, Cyrille Bolloré, James Mitchell, Manning Doherty, Margaret Frerejean-Taittinger and Nicole Avant as Non-Executive Directors for a two-year term.

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

Appointment of Eric Sprunk
Independent Non-Executive Director

Eric Sprunk, 60, is an American citizen and global consumer-retail industry leader with more than 25 years' experience delivering outstanding financial results, creating shareholder value and building loyal, high-performance teams. He most recently served as the Chief Operating Officer of Nike from 2013 to 2020, where he led a globally distributed team of 25,000+ Nike employees and an additional 1,200,000 contract employees responsible for its robust and innovative global supply chain, demand/supply planning, procurement, corporate real estate and workplaces and IT/technology for the global enterprise. During his 27 years at Nike, Mr. Sprunk held various executive positions of increasing responsibility, including EVP, Global Product & Merchandising from 2008 to 2013 and EVP & GM, Global Footwear from 2001 to 2008. As COO, he drove the digital transformation of the company to be consumer direct and oversaw its robust and innovative global supply chain. He currently serves as a member of the Board of Directors of General Mills, Bombardier and Nordstrom.