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Nestlé Shareholders Approve Board's Proposals

Nestlé S.A. (NSRGY.PK,NSTR.L) said that its shareholders approved all of the Board of Directors' proposals at the 154th Annual General Meeting. It included the election of Lindiwe Majele Sibanda to the Board of Directors.

Ursula Burns, a Nestlé Board member since 2017, did not stand for re-election.

Nestlé Chairman Paul Bulcke and all other members of the Board of Directors were elected individually for a term of office until the end of the next Annual General Meeting.

The shareholders also elected the members of the Compensation Committee for a one-year term.

The annual review and the accounts were approved, as were the proposed dividend of CHF 2.75 per share and the planned capital reduction.

The shareholders also approved the total compensation budgets for Nestlé's Board of Directors and Executive Board. Fifteen percent of the Executive Board members' short-term bonus will be linked to the achievement of Environment Social Governance-related objectives.

Ernst & Young Ltd was re-elected as statutory auditors for the financial year 2021.

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