EDENRED (EPA:EDEN) - Edenred’s 2021 General Meeting approves all resolutions

Transparency directive : regulatory news

11/05/2021 18:01

Press release
May 11, 2021

Edenred's 2021 General Meeting approves all resolutions

The Combined General Meeting of Edenred shareholders was held today behind
closed doors at Comet Bourse, 35 rue Saint-Marc, 75002 Paris, under the
chairmanship of Bertrand Dumazy, Chairman and Chief Executive Officer. Despite
having to be held as a closed session due to public health restrictions,
shareholders were able to watch the Meeting live online and ask their questions
by audio or video link. Thanks to the system allowing shareholders to
participate remotely in advance, the quorum stood at 80.71%.

The General Meeting adopted all the resolutions proposed by the Board of
Directors, notably:

* the payment of a dividend of EUR0.75 per share in respect of 2020, with the
option of receiving payment of the entire dividend in new shares(1) (see press
release at edenred.com);

* Edenred's transformation into a European Company (Societas Europaeas - SE);

* the renewal of the terms of office of Françoise Gri and Sylvia Coutinho as
directors;

* the appointment of Angeles Garcia-Poveda, Monica Mondardini and Philippe
Vallée as directors.

The Board of Directors now has 14 members, including two
employee-representative directors. It includes five women appointed by the
General Meeting (representing 41.6% of its shareholder-appointed members) and
the proportion of independent directors is more than 91% (11/12) based on the
calculation method in the AFEP-MEDEF Code, which excludes
employee-representative directors. Directors whose names are followed by an
asterisk (*) are independent directors:

* Jean-Paul Bailly*
* Sylvia Coutinho*
* Dominique D'Hinnin*
* Bertrand Dumazy, Chairman and Chief Executive Officer
* Gabriele Galateri di Genola*
* Angeles Garcia-Poveda*
* Maëlle Gavet*
* Graziella Gavezotti, employee-representative director
* Françoise Gri*, Lead Independent Director and Vice-Chairman of the Board of
Directors
* Jean-Bernard Hamel, employee-representative director

(1) Disclaimer: The option to receive the dividend payment in shares does not
constitute an offer or a solicitation to subscribe to or purchase securities in
the United States within the meaning of the U.S. Securities Act of 1933, or in
any other country where such transaction would be contrary to the applicable
laws and regulations. The option to receive the dividend payment in shares is
not available in certain countries, notably those where such an option would
require registration with, or authorization from, the local securities
regulator. Shareholders residing outside France should inquire about and comply
with any local restrictions.

* Alexandre de Juniac*
* Jean-Romain Lhomme*
* Monica Mondardini*
* Philippe Vallée*

As the terms of office of Sylvia Coutinho and Françoise Gri were renewed by
the General Meeting, the Board of Directors confirmed:

* Françoise Gri's position as Lead Independent Director, Vice-Chairman of the
Board of Directors and Chairman of the Compensation and Appointments Committee;
and

* Sylvia Coutinho's position as member of the Compensation and Appointments
Committee.

The Board of Directors, on the recommendation of the Compensation and
Appointments Committee, also appointed Jean-Bernard Hamel as a member of the
Commitments Committee.

Enrich connections. For good.

During the Meeting, Bertrand Dumazy spoke of Edenred's long-standing commitment
to social, societal and environmental issues. This commitment is reflected both
in the Group's CSR policy, known as "Ideal", and in the fact that the solutions
it provides encourage more responsible behavior in the world of work. The Group
also presented to shareholders its diversity and gender balance initiatives, as
well as its talent attraction and development actions.

Lastly, Edenred unveiled its purpose - "Enrich connections. For good." - and
the related commitments (see press release dated May 11, 2021 at edenred.com).

Growth potential intact more than a year after Covid's emergence

The Meeting was also an opportunity for the Group's management to look back on
the 2020 financial year, during which all Edenred teams demonstrated an
exemplary level of commitment and agility. While the pandemic was severely
disrupting economies around the world, Edenred posted a solid financial
performance. The Group showed resilience at the height of the crisis, then
demonstrated a strong capacity to rebound from the middle of the year, even
delivering operating revenue organic growth in the second half. This trend
continued in the first quarter of 2021, when all business lines and regions
were back to organic growth.

With this performance, Edenred has shown that its growth potential remains
intact, as does its ability to continue expanding in still largely
underpenetrated markets. Leveraging its agility, dynamic sales momentum and
innovation, the Group offers solutions that meet essential needs for people at
work and cater to structural trends, such as the development of remote working,
digitalization, the emergence of more responsible behaviors and digitalized
payment, all of which have accelerated with the pandemic.

Thanks to its digital platform, Edenred has also developed specific-purpose
payment solutions - in some cases in record time - to mitigate the effects of
the pandemic on the most vulnerable communities in several countries. Examples
cited at the Meeting included the United Kingdom, where the Group digitally
distributed funds earmarked for food on behalf of the Department for Education
to 1.3 million British children who usually receive a free school lunch, and
Romania, where Edenred manages digital meal subsidies for people over 75 in
need.

A replay of the General Meeting, as well as the detailed results of the votes,
can be accessed on Edenred's website (www.edenred.com, Investors/Shareholders
section, then General Meeting). A summary will be available online shortly.

Edenred is a leading digital platform for services and payments and the
everyday companion for people at work, connecting over 50 million users and 2
million partner merchants in 46 countries via more than 850,000 corporate
clients.

Edenred offers specific-purpose payment solutions for food (such as meal
benefits), mobility (such as multi-energy, maintenance, toll, parking and
commuter solutions), incentives (such as gift cards, employee engagement
platforms) and corporate payments (such as virtual cards).

True to the Group's purpose, "Enrich connections. For good." these solutions
enhance users' well-being and purchasing power. They improve companies'
attractiveness and efficiency, and vitalize the employment market and the local
economy. They also foster access to healthier food, more environmentally
friendly products and softer mobility.

Edenred's 10,000 employees are committed to making the world of work a
connected ecosystem that is safer, more efficient and more responsible every
day.

In 2020, thanks to its global technology assets, the Group managed close to
EUR30 billion in business volume, primarily
carried out via mobile applications, online platforms and cards.

Edenred is listed on the Euronext Paris stock exchange and included in the
following indices: CAC Next 20, FTSE4Good and MSCI Europe.

The logos and other trademarks mentioned and featured in this press release are
registered trademarks of Edenred S.A., its subsidiaries or third parties. They
may not be used for commercial purposes without prior written consent from
their owners.

CONTACTS

Communications Department

Emmanuelle Châtelain
+33 (0)1 86 67 24 36
emmanuelle.chatelain@edenred.com

Media Relations

Matthieu Santalucia
+33 (0)1 86 67 22 63
matthieu.santalucia@edenred.com

Investor Relations

Cédric Appert
+33 (0)1 86 67 24 99
cedric.appert@edenred.com

Loïc Da Silva
+33 (0)1 86 67 20 67
loic.dasilva@edenred.com

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EDENRED (EPA:EDEN) - Edenred’s 2021 General Meeting approves all resolutions

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