Bang & Olufsen — Board/Management Information 2016

Sep 8, 2016

BANG & OLUFSEN A/S 8 SEPTEMBER 2016

ANNOUNCEMENT NO. 16.08

TRANSLATION

Proposal to elect additional member to the Board of Directors

Reference is made to the notice convening the Annual General Meeting of Bang & Olufsen A/S in company announcement no. 16.06 of 23 August 2016.

The Board of Directors of Bang & Olufsen A/S ("Bang & Olufsen" or the "Company") is in continuous dialogue with the Company's major shareholders and thereby also with Mr Qi Jianhong who indirectly owns approx. 20.2% of the shares and voting rights in Bang & Olufsen.

The dialogue with Mr Qi Jianhong has now materialised in the form of a recommendation of Ivan Tong for Bang & Olufsen's Board of Directors. The Board of Directors has resolved to recommend that the shareholders vote in favour of this recommendation at the Company's Annual General Meeting on 14 September 2016.

By this resolution, the Board of Directors has taken into account Ivan Tong's special competencies within the sale and distribution of luxury consumer goods in China being an important strategic market to the Company.

Ivan Tong is not deemed to be an independent candidate for the Board of Directors since he has a material commercial relation to the Company through his position as a chairman of the board of directors of Sparkle Roll Group Limited which is a distributor for e.g. B&O PLAY products in China. Through the ownership of Sparkle Roll Holdings Limited, Mr Qi Jianhong is the single largest shareholder in Sparkle Roll Group Limited.

Ivan Tong's CV and details about his managerial posts are attached to this company announcement.

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BANG & OLUFSEN A/S
8 SEPTEMBER 2016
ANNOUNCEMENT NO. 16.08

In addition to Ivan Tong, the Board of Directors has proposed to re-elect all existing members of the Board of Directors and elect Juha Christensen as a new member of the Board of Directors in its initial notice convening the Annual General Meeting.

On behalf of the Board of Directors of Bang & Olufsen A/S

Ole Andersen
Chairman of the Board of Directors

For further information, please contact

Claus Højmark Jensen, tel:+ 45 9684 1251

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