Ferrexpo PLC

AGM Information • May 25, 2023

National Storage Mechanism | Additional information

RNS Number : 6917A

Ferrexpo PLC

25 May 2023

25 May 2023

Ferrexpo plc

("Ferrexpo", the "Company" or the "Group")

Results of Annual General Meeting

The results of voting at Ferrexpo's Annual General Meeting ("AGM") held today, 25 May 2023, are summarised below.  All Resolutions were voted by way of a poll.

As stated in the Company's AGM Notice and under Listing Rule 9.2.2E, a resolution to elect or re-elect an Independent Director must be passed by both a majority of the independent shareholders (excluding the Company's controlling shareholder) and a majority of all shareholders. In order to determine this, votes cast by the independent shareholders were counted separately in respect of the re-election of Graeme Dacomb, Vitalii Lisovenko, Fiona MacAulay and Natalie Polischuk and the results of that separate count are set out below.

Voting Results

	For/Discretion			Against		Total votes cast	Votes withheld1
Resolution	No. of votes		% of votes cast2	No. of votes	% of votes cast2	No. of votes	No. of votes
1.   To receive the 2022 Report and Accounts.	467,065,641		100.00	17,250	0.00	467,082,891	8,977,088
2.   To approve the Remuneration Report (apart from the remuneration policy)	456,102,076		97.45	11,935,291	2.55	468,037,367	8,022,612
3.   To re-appoint MHA MacIntyre Hudson as the Company's auditors	467,992,617		99.99	32,798	0.01	468,025,415	8,034,564
4.   To authorise the Audit Committee to determine the auditors remuneration	467,986,224		99.99	48,290	0.01	468,034,514	8,025,465
5.   To re-elect Graeme Dacomb as a director	All	462,379,104	98.79	5,640,084	1.21	468,019,188	8,040,791
Independent	166,301,160	96.72	5,640,084	3.28	171,941,244	8,040,791
6.   To re-elect Lucio Genovese as a director	399,371,518		85.33	68,647,669	14.67	468,019,187	8,040,792
7.   To re-elect Vitalii Lisovenko as a director	All	383,040,879	81.73	85,624,143	18.27	468,665,022	7,394,957
Independent	86,962,935	50.39	85,624,143	49.61	172,587,078	7,394,957
8.   To re-elect Fiona MacAulay as a director	All	459,102,133	98.09	8,919,761	1.91	468,021,894	8,038,085
Independent	163,024,189	94.81	8,919,761	5.19	171,943,950	8,038,085
9.   To re-elect Natalie Polischuk	All	466,128,479	99.60	1,891,808	0.40	468,020,287	8,039,692
Independent	170,050,535	98.90	1,891,808	1.10	171,942,343	8,039,692
10. Withdrawn
11. To authorise the directors to allot shares	163,669,958		34.97	304,356,706	65.03	468,026,664	8,033,315
12. To empower the directors to disapply pre-emption rights	164,861,032		35.23	303,156,691	64.77	468,017,723	8,042,256
13. To authorise the Company to make market purchases of its own shares	461,908,424		98.94	4,948,517	1.06	466,856,941	9,203,038
14. To approve a 14 clear days' notice period for a general meeting other than an AGM	463,809,957		99.09	4,240,960	0.91	468,050,917	8,009,062

1.          A vote withheld is not a vote in law and is not counted in the calculation of votes validly cast for or against a resolution

2.          Excluding votes withheld

Committee changes

The Board has elected to appoint Independent Non-executive Director Natalie Polischuk as Chair of the Group's Health, Safety, Environment and Community ("HSEC") Committee, in place of Ann-Christin Andersen who did not stand for re-election at the AGM. In addition, Greg Nortje, Group Chief Human Resources Officer, has been appointed as a member of the HSEC Committee, in place of Jim North, Chief Executive Officer. The changes are effective as of today.

Significant Votes Against Resolutions

The Board of Ferrexpo notes that there were a significant proportion (more than 20%) of votes cast against the resolutions to authorise the directors to allot shares and to empower the directors to disapply pre-emption rights, and ultimately these resolutions did not pass.  The Board of Ferrexpo understands that this voting outcome was primarily as a result of the Company's largest shareholder not wanting to incur further dilution to its voting interest in the Company. There were also a significant proportion (more than 20%) of votes cast against the re-election of one of our Company directors based on the outcome of the votes of the independent shareholders.

The Board will consult and engage with shareholders to better understand the reasons behind these votes and will publish an update of its shareholder engagement within 6 months of today's AGM.

Further Disclosures

As at the date of the AGM, the Company's issued share capital (excluding treasury shares) consisted of 598,137,142 Ordinary Shares carrying one vote each. Therefore, the total number of voting rights as at the date of the AGM was 598,137,142.

In accordance with Listing Rule 9.6.2, Ferrexpo plc has submitted a copy of the resolutions dealing with the special business put to shareholders at the AGM today to the National Storage Mechanism, which will shortly be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

For further information, please contact:

Tavistock:
Jos Simson Emily Moss Gareth Tredway	ferrexpo@tavistock.co.uk	+44 207 920 3150 +44 7785 974 264

Notes to Editors:

Ferrexpo is a Swiss headquartered iron ore company with assets in Ukraine and a premium listing on the London Stock Exchange in the FTSE 250 index (ticker FXPO). The Group produces high grade iron ore pellets, which are a premium product for the global steel industry and enable reduced carbon emissions and increased productivity for steelmakers when the Group's iron ore pellets are converted into steel, compared to more commonly traded forms of iron ore. Ferrexpo's operations have been supplying the global steel industry for over 50 years, and in 2022 the Group produced 6.1 million tonnes of iron ore pellets, despite the war in Ukraine. Historically, Ferrexpo has been the world's third largest exporter of pellets to the global steel industry, recently having a market share of approximately 9% in 2021. The Group has a global customer base comprising of premium steel mills around the world, which includes steel mills in Austria, Germany, Japan, South Korea, Taiwan, China, Slovakia, the Czech Republic, Turkey, Vietnam and America. For further information, please visit www.ferrexpo.com.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

RAGLELFLXELXBBX