Nordea Bank (NDA-SE) AGM 2020 summary

Opening remarks and agenda

• AGM held in Helsinki on 28 May 2020 under extraordinary COVID-19 procedures; shareholders could follow by web stream. 2,321,708,016 shares and votes were represented, about 57.3% of the total.

• Approved the 2019 financial statements and discharged the Board, President and Group CEO, and deputy Managing Director for FY2019.

Board and executive committee updates

• Ten Board members were elected: Torbjörn Magnusson was re-elected chair, nine members were re-elected, and Jonas Synnergren was elected as a new member, all until the next AGM.

• Kari Jordan was elected vice-chair; employee-appointed Board members are Gerhard Olsson, Kari Ahola and Dorrit Groth Brandt, with Hans Christian Riise as deputy.

• Committee chairs appointed: Sarah Russell for Audit, Nigel Hinshelwood for Risk, Torbjörn Magnusson for Remuneration, and Birger Steen for Operations and Sustainability.

Dividend announcements

• Board authorised to decide on a FY2019 dividend of up to €0.40 per share, payable in one or more instalments; authorisation lasts until the next AGM.

• Board intended to follow the ECB’s 27 March 2020 COVID-19 recommendation and refrain from deciding on payment before 1 October 2020.