Report From the AGM of Alfa Laval AB

LUND, Sweden, Apr 26, 2017

This is an unofficial translation of the Swedish report. In case of any discrepancies between the Swedish report and this English translation, the Swedish version shall prevail.    

At the meeting, Tom Erixon, Alfa Laval's President and CEO, talked about 2016, a year which was characterized by demanding conditions in the marine industry as well as the market related to oil and gas. Furthermore, he talked about the profound strategic review that was carried out and which resulted in a program that aims to adjust costs to the prevailing market conditions and also to contribute to lift organic growth.

The income statements and balance sheets were adopted, together with the Board's proposal for distribution of surplus. The proposed dividend of SEK 4:25 per share was approved. The AGM also approved the discharge from liability for the members of the Board of Directors and the Managing Director.

It was resolved that the number of members of the Board of Directors shall be eight, with no deputies. As Board members Ulla Litzén, Anders Narvinger, Arne Frank, Finn Rausing, Jörn Rausing, Ulf Wiinberg and Margareth Øvrum were re-elected, while Gunilla Berg had declined re-election. The nominating committee's proposal to newly elect Anna Ohlsson-Leijon as a member of the board was also approved. Anders Narvinger was appointed Chairman of the Board.

Furthermore, the AGM approved the proposal to re-elect the authorized public accountants Håkan Olsson Reising and Joakim Thilstedt as ordinary auditors for the coming year. The deputy auditors, authorized public accountants David Olow and Duane Swanson, were also re-elected.  

The AGM decided to adopt the remuneration to the Board of Directors for 2017 in line with the Nominating Committee's proposal. Remuneration amounts to SEK 5,250,000, an increase from SEK 5,105,000 in 2016. Additional remuneration will be paid for work performed in the Board's committees. It was also decided that compensation to auditors shall be paid as per approved invoice.