Vestas Wind Systems — AGM Information 2014

Mar 24, 2014

Vestas Wind Systems A/S' Annual General Meeting on 24 March 2014

Aarhus, Denmark, 2014-03-24 16:13 CET (GLOBE NEWSWIRE) --

The Annual General Meeting of Vestas Wind Systems A/S has been held today.

Agenda and resolutions

1. The Board of Directors’ report (subject was not for voting).
   2 Presentation and adoption of the annual report.
   The annual report 2013 was approved.
   3 Resolution for the allocation of the result of the year.
   It was resolved that there will be no distribution of dividend for 2013.
   4 Election to the Board of Directors.
   Bert Nordberg, Carsten Bjerg, Eija Pitkänen, Henrik Andersen, Henry
   Sténson, Jørn Ankær Thomsen, Lars Josefsson and Lykke Friis were elected
   as members of the board.
   5 Adoption of the remuneration of the Board of Directors.
   5.1 Approval of the final remuneration of the Board of Directors for 2013.
   The Board of Directors proposed that the remuneration of the Board of
   Directors and the remuneration of membership of board committees remain
   unchanged as approved by the general meeting in 2013.
   The final remuneration of the Board of Directors for 2013 was approved.
   5.2 Approval of the level of remuneration of the Board of Directors for 2014.
   The Board of Directors proposed that the level of remuneration for 2014
   is based upon a basic remuneration of EUR 47,966 per board member as
   well as a remuneration of EUR 23,984 per membership of one of the board
   committees.
   The Board of Directors’ proposal for remuneration for 2014 was adopted.
   The adoption implies an increase of 10 per cent.
   6 Appointment of auditor.
   PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab was
   re-appointed as auditor of the company.
   7 Proposals from the Board of Directors and shareholders.
   Proposals from the Board of Directors
   7.1 Amendment (rewording) of articles 6(2-3) and 11 to the articles of
   association as a consequence of the changes to the Danish Companies Act.
   The amendment to the articles of association was approved.
   7.2 Decision that the annual report may be prepared and presented in English.
   98.78 per cent of the represented capital voted for the proposal, and the
   proposal was approved.
   7.3 Renewal of the authorisations to increase the company’s share capital
   (authorisations to issue new shares with or without pre-emptive rights
   equivalent to 10 per cent of the share capital).
   The Board of Directors was authorised to increase the company’s share
   capital as per the proposed. The authorisations are valid until 1 March
   2019.
   7.4 Authorisation to acquire treasury shares.
   The Board of Directors was authorised to let the company acquire treasury
   shares as per the proposed.
   Proposals from shareholder
   7.5 Proposals from shareholder Kjeld Beyer, Denmark.
   7.5.a Requirements of accounting details in the notice convening annual general
   meetings.
   The proposal was not approved.
   7.5.b The company’s financial reports and company announcements must be
   available in Danish on the company’s website for at least five years.
   The proposal was not approved.
   7.5.c No more than two or three menu items must be required on the website to
   view the company’s financial reports. The Investor website must be
   easily accessible and in Danish.
   The proposal was not approved.
   7.5.d Refreshments provided in connection with annual general meetings must
   reasonably match the outlook for the coming year.
   The proposal was not approved.
   8 Authorisation of the chairman of the general meeting (with a right of
   substitution) to file and register the adopted resolutions with the
   Danish Business Authority.
   The chairman of the general meeting was authorised as per the proposed.

After the Annual General Meeting, the Board of Directors held a statutory board
meeting. At the meeting, Bert Nordberg was re-elected as chairman of the Board
and Lars Josefsson was re-elected as deputy chairman of the Board.

Contact details

Vestas Wind Systems A/S, Denmark
Lars Villadsen, Senior Vice President, Investor Relations
Tel.: +45 9730 0000