2020

03.04.2020 – Forbo Holding AG

MEDIA RELEASE

MEDIA RELEASE

Forbo shareholders approve all proposals of the Board of Directors – Impact of the coronavirus

At today's 92nd Ordinary General Meeting of Forbo Holding Ltd, the shareholders approved all the proposals of the Board of Directors by a clear majority. In accordance with COVID-19 Ordinance 2 of the Swiss Federal Council, shareholders exercised their rights solely through voting instructions issued to the independent proxy since personal attendance by shareholders was not permissible. A dividend of CHF 23 per share will be paid out on April 14, 2020.

At the present time, Forbo cannot assess the various effects that the coronavirus will have on demand and the continuation of production over the coming weeks and months. For this reason, Forbo will not provide any guidance for the 2020 business year anymore.

Baar, April 3, 2020

In view of the measures taken by the Swiss Federal Council to combat the coronavirus pandemic, the venue for the meeting was moved from the Casino in Zug to the headquarters of Forbo Holding Ltd in Baar.

No shareholders were present. The independent proxy represented 1,156,167 registered shares, accounting for 70.07 percent of the share capital issued.

The shareholders approved all the proposals of the Board of Directors by a clear majority. They approved the Annual Report, the annual statements and the consolidated financial statements for the 2019 business year, while also granting discharge to the responsible governing bodies. In addition, they voted in favor of the proposed distribution of earnings in the form of a dividend amounting to CHF 23 per share.

The shareholders approved the 2019 Remuneration Report by a clear majority in a consultative vote. The Ordinary General Meeting approved the maximum total remuneration of the Board of Directors for 2021, the maximum fixed remuneration of the Executive Board for 2021, the short-term variable remuneration of the Executive Board for 2019, as well as the maximum long-term equity participation of the Executive Board for 2020 by a clear majority.

All the current members of the Board of Directors were confirmed in office and re-elected for a one-year term. They are This E. Schneider, Executive Chairman, and the members Dr. Peter Altorfer, Michael Pieper, Claudia Coninx-Kaczynski, Dr. Reto Müller and Vincent Studer. The current members of the Remuneration Committee – Dr. Peter Altorfer, Claudia Coninx-Kaczynski and Michael Pieper – were also confirmed for a further year.

Lastly, the shareholders extended the mandate of the auditor, KPMG Ltd, for a further year. Furthermore, René Peyer was re-elected as independent proxy.

Impact of the coronavirus

Forbo is carefuly observing the developments surrounding the spread of the coronavirus (COVID-19) and is taking appropriate measures on an ongoing basis. The health of its employees and the best possible service under the circumstances for its customers are of paramount importance in this situation.

Forbo's COVID-19 action plan consists of a number of elements. Additional directives regarding COVID-19 hygiene standards and rules of conduct were issued early on for all sites. In addition, further management and control instruments were established in order to be able to respond quickly to a very challenging situation that is constantly evolving.

Some sites have had to be closed temporarily either because of government directives or owing to the market situation. Forbo has warehouse stock at various sites and has the capability, in some cases, of manufacturing products at other production sites.

At the present time, Forbo cannot assess the various effects that the coronavirus will have on demand and the continuation of production over the coming weeks and months. For this reason, Forbo will not provide any guidance for the 2020 business year anymore.

Forbo's global presence, its leading market positions, its broad, innovative and sustainable product portfolio as well as its very healthy financial situation will enable it to meet the challenges successfully.

Forbo will report on the impact of the coronavirus on its business performance when it publishes the figures for the first half year 2020.

Forbo is a leading producer of floor coverings, building and construction adhesives, as well as power transmission and conveyor belt solutions. The company employs more than 5,600 people and has an international network of 25 production facilities and distribution companies, 6 assembly centers, as well as 48 pure sales organizations in a total of 38 countries across the globe. The company generated net sales of CHF 1,282.2 million in the 2019 business year. Forbo is headquartered in Baar in the canton of Zug, Switzerland.

Forbo Holding Ltd is listed on SIX Swiss Exchange (security number 354151, ISIN CH0003541510, Bloomberg FORN SW, Reuters FORN.S).

Contact person:

This E. Schneider

Executive Chairman

Phone +41 58 787 25 49

www.forbo.com


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