STOCKHOLM, Feb. 20, 2025 /PRNewswire/ -- Notice is given to the shareholders of Essity Aktiebolag (publ) Reg. No. 556325-5511 ("Essity") of the Annual General Meeting to be held on Thursday, 27 March 2025 at 2 p.m. at Stockholm Waterfront Congress Centre, Nils Ericsons Plan 4, Stockholm (registration from 1 p.m.).
The shareholders also have the opportunity to exercise their voting rights by voting in advance (so-called postal voting) ahead of the Annual General Meeting. Shareholders may thereby choose to exercise their voting rights at the Annual General Meeting 2025 by attending in person, through a proxy or by advance voting as instructed below.
A. Right to participate at the Meeting
Shareholders who wish to participate in the Annual General Meeting must
- be listed as a shareholder in the presentation of the share register prepared by Euroclear Sweden AB as of Wednesday, 19 March 2025; and
- give notice of its intention to participate in the Meeting in accordance with the instructions set out in section "B. Notice of participation at the meeting venue in person or by proxy" no later than Friday, 21 March 2025, or by submitting its advance vote in accordance with the instructions under section "C. Advance voting" no later than Friday, 21 March 2025.
For shareholders who have their shares registered through a bank or other nominee, the following applies in order to be entitled to participate in the Meeting. In addition to giving notice of participation, such shareholder must re-register its shares in its own name so that the shareholder is listed in the presentation of the share register as of the record date Wednesday, 19 March 2025. Such re-registration may be temporary (so-called voting rights registration), and request for such voting rights registration shall be made to the nominee in accordance with the nominee's routines, at such a time in advance as decided by the nominee. Voting rights registration that has been made by the nominee no later than Friday, 21 March 2025, will be considered in the presentation of the share register.
B. Notice of participation at the meeting venue in person or by proxy
A person who wishes to participate at the meeting venue in person or by proxy must give notice to the company as instructed below:
- by telephone +46 8 402 90 80, weekdays between 9 a.m. and 4 p.m.,
- by mail to Essity Aktiebolag (publ), "Annual General Meeting", c/o Euroclear Sweden AB, P.O. Box 191, SE-101 23 Stockholm, Sweden,
- via Euroclear Sweden AB's website, https://anmalan.vpc.se/euroclearproxy, or
- by email to GeneralMeetingService@euroclear.com
Name, personal identity number/corporate registration number, address and telephone number, and number of accompanying persons (no more than two), if any, should be stated when notification is given. Shareholders represented by proxy shall issue a written and dated proxy for their representative signed by the shareholder. A proxy is valid one (1) year from its issue date or such longer period as set out in the proxy, however not more than five (5) years. Proxy forms are available upon request and on the company's website, www.essity.com. Anyone representing a legal entity must present a copy of the registration certificate or equivalent authorization document, not older than one (1) year, listing the authorized signatories. To facilitate registration at the Meeting, the proxy as well as the registration certificate and other authorization documents should be sent to the company at the address stated above well in advance of the Meeting and no later than Friday, 21 March 2025.
C. Advance voting
Shareholders may exercise their voting rights at the Annual General Meeting by voting in advance, so-called postal voting. A person who wishes to attend the meeting venue in person or by proxy must however give notice in accordance with the instructions under section "B.Notice of participation at the meeting venue in person or by proxy" above. This means that a notice of participation only through advance voting is not sufficient for shareholders who wish to attend the meeting venue.
A special form must be used for the advance vote. The form is available on Essity's website, www.essity.com. Submission of the form in accordance with the instructions set out below is considered as notice of participation in the Annual General Meeting. The completed form must be received by Euroclear Sweden AB no later than Friday, 21 March 2025. The completed form may be sent to Essity Aktiebolag (publ), "Annual General Meeting", c/o Euroclear Sweden AB, P.O. Box 191, SE-101 23 Stockholm, Sweden. A completed form may also be submitted electronically. Electronic submission can be made either through verification with BankID in accordance with instructions at https://anmalan.vpc.se/euroclearproxy, or by sending the completed form by email to GeneralMeetingService@euroclear.com. Electronic submission must be made no later than Friday, 21 March 2025.
Shareholders may not provide specific instructions or conditions to the advance vote. If so, the entire advance vote is invalid. Further instructions and conditions can be found in the advance voting form.
Shareholders submitting their advance vote by proxy must issue a written and dated proxy for their representative signed by the shareholder, which must be enclosed with the advance voting form. A proxy is valid one (1) year from its issue date or such longer period as set out in the proxy, however not more than five (5) years. Proxy forms are available upon request and on the company's website, www.essity.com. If the shareholder is a legal entity, a registration certificate or equivalent authorization document, not older than one (1) year, listing the authorized signatories shall be appended to the advance voting form.
Proposed agenda
- Election of Chairman of the Meeting.
- Preparation and approval of the voting list.
- Election of two persons to check the minutes.
- Determination of whether the Meeting has been duly convened.
- Approval of the agenda.
- Presentation of the annual report and the auditor's report and the consolidated financial statements and the auditor's report on the consolidated financial statements and the auditor's statement regarding whether the guidelines for remuneration for the senior management that have applied since the previous annual general meeting have been complied with.
- Speeches by the Chairman of the Board of Directors, the President and the auditor in charge.
- Resolutions on
a. adoption of the income statement and balance sheet, and of the consolidated income statement and the consolidated balance sheet;
b. appropriations of the company's earnings under the adopted balance sheet and record date for dividend; and
c. discharge from personal liability of the Board of Directors and the President for 2024. - Resolution on the number of directors and deputy directors.
- Resolution on the number of auditors and deputy auditors.
- Resolution on remuneration for the Board of Directors and the auditor.
- Election of directors and deputy directors.
Re-election of
a. Maria Carell
b. Annemarie Gardshol
c. Magnus Groth
d. Jan Gurander
e. Torbjörn Lööf
f. Bert Nordberg
g. Barbara M. Thoralfsson
h. Karl Åberg
New election of
i. Alexander Lacik
j. Katarina Martinson - Election of Chairman of the Board of Directors.
- Election of auditors and deputy auditors.
- Resolution on approval of the Board's report on remuneration for the senior management.
- Resolution on cash-based incentive program.
- Resolution on
a. amendment of the maximum and minimum number of shares in the Articles of Association;
b. reduction of the share capital through cancellation of own shares; and
c. increase of the share capital through a bonus issue without issuance of new shares. - Resolution on authorization for the Board of Directors to resolve on
a. acquisition of own shares; and
b. transfer of own shares on account of company acquisitions etc.
Proposal for resolution under Item 1
The Nomination Committee proposes attorney-at-law Eva Hägg as Chairman of the Meeting.
Proposal for resolution under Item 2
The voting list proposed to be approved is the voting list prepared by Euroclear Sweden AB on behalf of Essity, based on the Annual General Meeting's share register, shareholders having given notice of participation and being present at the meeting venue and received advance votes.
Proposal for resolution under Item 8.b
The Board of Directors proposes a dividend for the financial year 2024 of SEK 8.25 per share. As record date for the dividend, the Board of Directors proposes Monday, 31 March 2025. If the Meeting resolves in accordance with this proposal, the dividend is expected to be distributed by Euroclear Sweden AB on Thursday, 3 April 2025.
Proposals for resolutions under Items 9-14
The Nomination Committee proposes the following:
- The number of directors shall be ten with no deputy director.
- The number of auditors shall be one with no deputy auditor.
- The remuneration to each director elected by the Annual General Meeting who is not employed by the company shall amount to SEK 960,000 (910,000) and the Chairman of the Board of Directors is to receive SEK 2,880,000 (2,730,000). Members of the Remuneration Committee are each to receive an additional remuneration of SEK 145,000 (135,000), while the Chairman of the Remuneration Committee is to receive an additional remuneration of SEK 170,000 (160,000). Members of the Audit Committee are each to receive an additional remuneration of SEK 350,000 (320,000), while the Chairman of the Audit Committee is to receive an additional remuneration of SEK 490,000 (450,000). The Portfolio Development Committee was not constituted after the Annual General Meeting 2024 and its preparatory work was instead performed by the Board of Directors in its entirety. Therefore, no additional remuneration for committee work is proposed. Remuneration to the auditor is to be paid according to approved invoice.
- Re-election of the directors Maria Carell, Annemarie Gardshol, Magnus Groth, Jan Gurander, Torbjörn Lööf, Bert Nordberg, Barbara M. Thoralfsson and Karl Åberg and new election of Alexander Lacik and Katarina Martinson. Ewa Björling has declined re-election.
Alexander Lacik (b. 1965), has been President and CEO of Pandora since 2019 (listed on Nasdaq Copenhagen). He is a Swedish citizen living in Copenhagen, Denmark and is a trained economist. Since 1992, he has worked in the consumer sector, including 13 years for Procter & Gamble in Sweden and Switzerland and 13 years for Reckitt Benckiser in Greece, England and the United States, including as global category manager for the Hygiene division. He has been a board member of several companies, including Swedish Match until 2023. Alexander Lacik holds a BSc in Business Administration & Economics. He is independent in relation to the company, its management and major shareholders.
Katarina Martinson (b. 1981) has been working with asset management for the Lundberg family since 2009. She is a Swedish citizen living in Sweden and has previous experience from Handelsbanken Capital Markets, Strategy Research Partners LLC, New York, and ISI International Strategy & Investment Group, New York, among others. Katarina Martinson is Chairman of the board of Indutrade and holds board assignments in three listed companies (L E Lundbergföretagen, Industrivärden and Husqvarna). Katarina Martinson holds a Master of Science in Economics from the Stockholm School of Economics. She is independent in relation to the company and its management, but not to the company's major shareholders. - Re-election of Jan Gurander as Chairman of the Board of Directors.
- Re-election of the registered accounting firm Ernst & Young AB, in accordance with the Audit Committee's recommendation, for the period until the end of the Annual General Meeting 2026. If elected, Ernst & Young AB has announced its appointment of Erik Sandström as auditor in charge.
Proposal for resolution under Item 16
The Board of Directors proposes that the Annual General Meeting 2025 resolve to approve a cash-based incentive program which is directed to senior management as well as certain other executives and key employees in Essity (the "Program") as follows. In order to encourage a common interest for the participants and the shareholders of long-term good return and the company's ability to recruit and retain key employees, the Board of Directors considers that the company shall have cash-based incentive programs. Such programs should be approved annually and have performance conditions related to (i) the relative value development of Essity's class B share, and (ii) reduction of greenhouse gas emissions. The Board of Directors also considers that there should be a requirement for the participants' own investment in Essity shares and that such shares should be held for a period of at least three years. The Program is exclusively cash-based and will therefore not result in any dilution of the number of shares outstanding.
Essity has for a number of years resolved on similar cash-based programs. The programs are described in the company's Annual Reports and in the remuneration reports presented to the Annual General Meeting for approval. The Board of Directors' assessment is that these programs have worked very well.
Against this background, the Board of Directors proposes that the Annual General Meeting 2025 resolve on a cash-based incentive program, as further described below.
Principal terms and conditions of the Program
The proposed Program for 2025-2027 shall be based on the following principal terms and conditions.
- (a) The Program is proposed to be open to senior management as well as certain other executives and key employees in the Essity group, a total of approximately 400 persons (the "Participants").
- (b) The Participants shall have the opportunity, depending on satisfaction of certain performance conditions in accordance with paragraph (c) below, to obtain a cash remuneration (the "Cash Remuneration") after the end of a measurement period which covers the years 2025-2027 (the "Measurement Period"). The Cash Remuneration for each Participant may not exceed a certain percentage of the Participant's fixed annual cash salary (gross) for 2027, as follows: (i) for the President, a maximum of 50 percent, (ii) for other members of the senior management, a maximum of 80 percent and (iii) for other Participants, a maximum of 50 percent. The maximum variable remuneration level shall be determined per individual, taking into account the total remuneration in relation to the specific role, the local market, the terms of employment or the individual performance.
- (c) Payment of the Cash Remuneration shall depend on the degree of satisfaction of the following performance conditions for the Program under the Measurement Period:
(i) A financial target consisting of the total shareholder return ("TSR") on the company's class B share under the Measurement Period in relation to a benchmark group of other companies (the "TSR Condition").[1] The benchmark group shall to 60 percent consist of companies which are comparable with the operations in the company's business area Consumer Goods and to 20 percent each consist of companies that are comparable with the operations in the business area Health & Medical and Professional Hygiene, respectively.[2]
A condition for payment is that the TSR of Essity's class B share is not lower than the weighted TSR outcome for the benchmark group under the Measurement Period (the "TSR Minimum Level"). If the TSR Minimum Level is not reached, no payment of Cash Remuneration related to the TSR Condition will be made. For maximum payment (100 percent), it is required that the TSR of Essity's class B share exceeds the weighted TSR outcome for the Benchmark Group with at least 5 percentage points during the Measurement Period (the "TSR Maximum Level"). Should the TSR of Essity's class B share be between the TSR Minimum Level and the TSR Maximum Level during the Measurement Period, a linear payment will be made.
(ii) A sustainability target related to the company's reduction of actual greenhouse gas emissions during the Measurement Period (the "Sustainability Condition"). The Sustainability Condition is connected to the target adopted by the company to reduce its greenhouse gas emissions by 35 percent by 2030 compared to the base year 2016 (which means an average reduction of 2.5 percent per year).[3]
A condition for payment of Cash Remuneration related to the Sustainability Condition is that the company reduces greenhouse gas emissions during the Measurement Period by at least 7.5 percent on a linear basis compared to the base year 2016 (the "Sustainability Target"). If the Sustainability Target is reached, full payment of Cash Remuneration relating to the Sustainability Condition will be made. If the Sustainability Target is not reached, no payment relating to this target will be made.[4]
(iii) The TSR Condition will be weighted 80 percent and the Sustainability Condition 20 percent, when payment of the Cash Remuneration is decided. - (d) Cash Remuneration will normally be paid only after the expiration of the Measurement Period.
- (e) Participants shall normally be invited to the Program during the first year of the Program. A prerequisite for a Participant to be able to receive full Cash Remuneration, is that the Participant has been permanently employed within the Essity group throughout the Measurement Period. If a Participant has commenced its employment within the Essity group during the Measurement Period, the payment of Cash Remuneration shall be made pro rata.
- (f) Each Participant shall undertake, for as long as the Participant is employed within the Essity group, to acquire Essity shares for (i) the total paid net amount of the Cash Remuneration regarding senior management, and (ii) at least half the total paid net amount regarding other Participants, no later than 30 June 2028 (or as soon as possible thereafter if the Participant has been prevented from acquiring Essity shares at such time due to applicable insider rules), and to retain such shares for a period of at least three years after the acquisition, with certain exemptions approved by the Board of Directors. If a Participant does not acquire or retain Essity shares in accordance with the above, the Participant's right to payment under future incentive programs to which the Participant has been invited to participate, shall lapse.
- (g) If extraordinary changes in the Essity group or in the market occur which, in the opinion of the Board of Directors, would result in a situation where the conditions for Cash Remuneration under the Program become unreasonable, the Board of Directors shall be entitled to make adjustments to the Program, including, among other things, be entitled to resolve on a reduced right to Cash Remuneration, or that no Cash Remuneration shall be paid at all.
- (h) The Board of Directors shall be authorized to establish the detailed terms and conditions for the Program. The Board of Directors may, in that regard, make necessary adjustments of these general terms and conditions due to changed circumstances or to satisfy certain regulations or market conditions outside Sweden.
- (i) Participation in the Program presupposes that such participation is legally possible in the various jurisdictions concerned.
Measurement Period and vesting period
The Measurement Period for the performance conditions under the proposed Program will cover the financial years 2025-2027. The intention of the Board of Directors is that also future programs shall have a measurement period of three years. In order to receive full Cash Remuneration, employment within the Essity group throughout the vesting period is required. Further, the vesting period, which is three years, shall be combined with a requirement that the Participant must undertake to acquire and hold Essity shares for at least a three-year period after the acquisition, in accordance with above. Required long-term nature of the Program is achieved by the above stated requirements which totals six years.
Costs for the Program, dilution, etc.
The cost for the Program, including social security charges, covering approximately 400 employees, amounts to a maximum of SEK 290 million assuming full satisfaction of both of the performance conditions for all Participants in the Program. Thus, the cost of the Program amounts to approximately 1.4 percent of Essity's total cost for salaries and remuneration, including social security charges, for the financial year 2024.
The Program is cash-based and does not entail any dilution in the number of shares outstanding for the company's shareholders. No hedging arrangements are intended to be made with regard to the Program's financial exposure.
Preparations of the proposal
The proposed Program has been prepared by Essity's Remuneration Committee. The Remuneration Committee has presented documentation to the Board of Directors, whereafter the Board of Directors has resolved that the Program shall be referred to the Annual General Meeting 2025 for approval.
Majority requirements
The Annual General Meeting's resolution on approval of the Program requires a simple majority of the votes cast.
Other incentive programs in Essity
The company's other incentive programs are described in more detail in Essity's report on remuneration for 2024, which is available on the company's website, www.essity.com.
Proposal for resolution under Item 17
Essity has, on the basis of an authorization by the Annual General Meeting 2024, acquired own shares. As at the date of issue of the notice, Essity holds 9,288,000 own class B shares, corresponding to approximately 1.3 percent of the total number of shares in the company. The Board of Directors proposes that the Annual General Meeting resolve to amend the maximum and minimum number of shares in the Articles of Association, to reduce the share capital through cancellation of own class B shares, and to increase the share capital through a bonus issue without issuance of new shares, in accordance with items 17 a., b. and c. below. Resolutions under items 17 a., b. and c. are proposed to be taken as a joint resolution.
a. Amendment of the Articles of Association
The Board of Directors proposes to amend § 5 in the Articles of Association in accordance with the below:
Current wording | Proposed wording |
§ 5. Number of shares | § 5. Number of shares |
The number of shares shall not be less than 700,000,000 and shall not exceed 2,800,000,000. | The number of shares shall not be less than 600,000,000 and shall not exceed 2,400,000,000. |
b. Reduction of the share capital through cancellation of own shares
The Board of Directors proposes that the Annual General Meeting resolve to reduce the share capital through cancellation of own shares. The purpose of the reduction is allocation to unrestricted equity.
The reduction of the share capital shall be made through cancellation of 9,288,000 class B shares that are held by the company. The reduction of the share capital will amount to SEK 31,081,998.96 through the cancellation of 9,288,000 own class B shares. The reduction requires an amendment of the maximum and minimum number of shares in § 5 of the Articles of Association, as set out under item 17 a. above.
The resolution to reduce the share capital under this item 17 b. may be effectuated without obtaining an authorization from the Swedish Companies Registration Office or, in disputed cases, a general court's permission, as the company simultaneously effectuates a bonus issue (as set out under item 17 c. below) with an amount corresponding to no less than the amount the share capital is being reduced with as set out above. Combined, these measures entail that neither the company's restricted equity nor its share capital is reduced.
c. Bonus issue
With the purpose of restoring the share capital after the proposed reduction of the share capital (as set out under item 17 b. above) the Board of Directors proposes that the Annual General Meeting simultaneously resolve on a bonus issue to increase the company's share capital by SEK 31,081,998.96 through a transfer of SEK 31,081,998.96 from the company's unrestricted equity. The bonus issue shall be carried out without the issuance of new shares.
Statement by the Board of Directors pursuant to Chapter 20, Section 13, fourth paragraph of the Swedish Companies Act
In view of the Board of Directors' proposal for resolution on reduction of the share capital through cancellation of shares, the Board of Directors hereby issues the following statement pursuant to Chapter 20, Section 13, fourth paragraph of the Swedish Companies Act.
It follows from the Board of Directors' proposal on reduction of the share capital that the Board of Directors proposes that the company's share capital shall be reduced by SEK 31,081,998.96 through the cancellation of 9,288,000 own class B shares for allocation to unrestricted equity.
To achieve a quick and efficient cancellation procedure without the requirement of obtaining the Swedish Companies Registration Office's or a general court's permission, the Board of Directors has also proposed that the Annual General Meeting resolve on restoring the company's share capital to its current amount by increasing the share capital with SEK 31,081,998.96 through a bonus issue without issuance of new shares. The amount is to be transferred from the company's unrestricted equity to the company's share capital.
Through the reduction of the share capital due to the cancellation of shares, the company's share capital is reduced by SEK 31,081,998.96 and through the bonus issue the company's share capital is increased by the same amount. The company's restricted equity and share capital will therefore remain unchanged after the implementation of the bonus issue.
Following completion of the reduction of the share capital and the bonus issue, the total number of shares in Essity will amount to 693,054,489.
Authorization
The Board of Directors further proposes that the Annual General Meeting resolve to authorize the Board of Directors, or whom it appoints, to make such minor adjustments to the resolution covering items 17 a., b. and c. above as may be required for registration of the resolution with the Swedish Companies Registration Office or Euroclear Sweden AB and to take such other measures required to execute the resolution.
Conditions and majority requirements
The resolutions under items 17 a., b. and c. are proposed to be taken as a joint resolution. The Meeting's resolution under item 17 requires the support of shareholders representing at least two-thirds of the votes cast as well as of the shares represented at the Meeting.
Proposal for resolution under Item 18
The Board of Directors makes the assessment that it would be advantageous for the company to be able to adapt the capital structure and to be able to acquire own shares to be used as payment or financing on account of acquisitions of companies or businesses, and thereby contribute to increased shareholder value. Hence, the Board of Directors proposes that the Annual General Meeting authorize the Board of Directors to resolve on acquisition and transfer of own class B shares on the following main terms and conditions.
a. Acquisition of own shares
Acquisition of class B shares shall be made on Nasdaq Stockholm at a price within the at each time prevailing price interval for the share on the marketplace, meaning the interval between the highest purchase price and the lowest selling price. Payment for the shares shall be made in cash. The authorization may be exercised on one or several occasions until the Annual General Meeting 2026. A maximum number of class B shares may be acquired such that Essity's holding at each time does not exceed 10 percent of the total number of outstanding shares in Essity.
The Board of Directors has issued a statement pursuant to Chapter 19, Section 22 of the Swedish Companies Act.
b. Transfer of own shares on account of company acquisitions etc.
Transfer of class B shares may be made on Nasdaq Stockholm, as well as outside of Nasdaq Stockholm, with or without deviation from the shareholders' preferential rights and with or without provisions regarding contribution in kind or set-off rights. The shares may be used as payment for acquisitions of companies or businesses or to finance acquisitions of companies or businesses. Transfer may be made of the maximum number of shares held by Essity at the time of the Board of Directors' resolution. The authorization may be exercised on one or several occasions until the Annual General Meeting 2026. Transfers made outside of Nasdaq Stockholm may be made at a minimum price per share corresponding to an amount in close connection with the price of the company's class B shares on Nasdaq Stockholm at the time of the decision of transfer. Transfers made on Nasdaq Stockholm may be made at a price within the each time prevailing price interval of the share.
The purpose of the proposed authorizations is to be able to adapt the company's capital structure and to be able to use repurchased shares as payment or financing on account of potential acquisitions of companies or businesses, and thereby contribute to increased shareholder value.
Majority requirements
The Meeting's resolutions under Item 18 require the support of shareholders representing at least two-thirds of the votes cast as well as of the shares represented at the Meeting.
The Nomination Committee
The Nomination Committee for the Annual General Meeting 2025 is composed of Helena Stjernholm, AB Industrivärden, the Chairman of the Nomination Committee, Anders Hansson, AMF and AMF Fonder, Marianne Nilsson, Swedbank Robur Fonder, Anders Jonsson, Livförsäkringsbolaget Skandia, and Jan Gurander, Chairman of the Board of Essity.
Shares and votes
The total number of shares in the company amounts to 702,342,489 shares, of which 58,973,654 are class A shares and 643,368,835 are class B shares, representing a total of 1,233,105,375 votes. The class A share carries ten votes, and the class B share carries one vote. Essity holds 9,288,000 own class B shares, which cannot be represented at the Meeting. The information pertains to the circumstances as per the time of issuing this notice.
Additional information
The Board of Directors' complete proposals for resolutions, including the Board of Directors' statement pursuant to Chapter 20, Section 13, fourth paragraph of the Swedish Companies Act, are set out in this notice. The financial statements, the auditor's report, the Board of Directors' statements pursuant to Chapter 18, Section 4 and Chapter 19, Section 22 of the Swedish Companies Act, the Board of Directors' report on remuneration pursuant to Chapter 8, Section 53 a of the Swedish Companies Act, the auditor's statement pursuant to Chapter 8, Section 54 of the Swedish Companies Act regarding the remuneration guidelines for the senior management, and the auditor's statement pursuant to Chapter 20, Section 14 of the Swedish Companies Act, will be available at the company and on the company's website, www.essity.com, no later than Thursday, 6 March 2025. Information about the proposed board members and the proposed auditor, the Nomination Committee's statement, proxy forms, and forms for advance voting are available on the company's website, www.essity.com. The documents will be distributed free of charge to shareholders who so request and state their address and will be available at the Meeting.
The Board of Directors and the President shall, if any shareholder so requests and the Board of Directors believes that it can be done without material harm to the company, at the Meeting provide information regarding circumstances that may affect the assessment of an item on the agenda, and regarding circumstances that can affect the assessment of the company's or its subsidiaries' financial situation or the company's relation to other companies within the group.
Processing of personal data
For information on how your personal data is processed, please see https://www.euroclear.com/dam/ESw/Legal/Privacy-notice-bolagsstammor-engelska.pdf
Stockholm in February 2025
Essity Aktiebolag (publ)
The Board of Directors
[1] The calculation of TSR is done as follows. The volume weighted average price of the share during the fourth quarter 2024 is compared with the volume weighted average price of the share during the fourth quarter 2027, including dividend and other return.
[2] When implementing the Program, the benchmark group comprises of the following companies. For Consumer Goods: Procter & Gamble, Kimberly-Clark, Unicharm and Ontex. For Health & Medical: Smith & Nephew, Convatec and Hartman. For Professional Hygiene: Kimberly-Clark, Cascades and Duni. Each company has the same significance within the respective business area. The benchmark group can be adjusted according to the Board of Directors' decision if the Board of Directors deems it appropriate.
[3] The company's overall target is adopted in accordance with Science Based Targets (SBTi) in Scope 1 and 2. For more information about SBTi and the company's target, see Essity's Annual Report 2024.
[4] The assessment shall be made on the basis of the actual greenhouse gas emissions within the specified classes during the Measurement Period, taking into account acquisitions or divestments made.
CONTACT:
For further information, please contact:
Per Lorentz, Vice President Corporate Communications, +46 73 313 30 55, per.lorentz@essity.com
Sandra Åberg, Vice President Investor Relations, +46 70 564 96 89, sandra.aberg@essity.com
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