Expert Corporate Governance Service (ECGS)
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Assa Abloy - 25 April 2019 AGM

In general, Assa Abloy is in compliance with the Swedish regulations relating to the organisation and procedures of the Annual General Meeting.

Under ITEM 11b, the nomination committee seeks approval of the auditors' fees. In view of the substantial amount of non-audit fees, ECGS recommends to vote OPPOSE.

Under ITEM 12a, approval is sought for the (re-)election of the board of directors. In light of insufficient independent representation on the board of directors, ECGS recommends to vote OPPOSE.

Under ITEM 12b, the nomination committee proposes to re-appoint PricewaterhouseCoopers as the Company's statutory auditor. In view of the current term in office of the auditor, ECGS recommends to vote OPPOSE.

Finally, under ITEM 13, the board of directors seeks approval of the Company's executive remuneration guidelines. Although no (material) changes are proposed, ECGS considers the annual base salary as well as the total compensation of the company CEO to be at the upper level of Swedish market practice for a company with the size and complexity of Assa Abloy. Accordingly, ECGS recommends to vote OPPOSE.

Assa Abloy AB Series B

ASSA ABLOY provides a range of door opening solutions. Co. is organized into five divisions. Europe, Middle East and Africa division, Americas (North and South America) division and Asia Pacific (Asia, Australia and New Zealand) division manufacture and sell mechanical and electromechanical locks, security doors and hardware in their respective geographical markets. Global Technologies division operates worldwide in the product areas of access control systems, secure card issuance, identification technology and hotel locks. Entrance Systems division is a global supplier of entrance automation products and service.


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