ABSA GROUP LIMITED - Results of Annual General Meeting of Absa Group

Decision framework

Current stance: Filing Neutral

Evidence from the filing

• Shareholders granted near-unanimous support (99.97%) for the general authority to repurchase the company's ordinary shares.

  “Special Resolution number 2: General authority to the directors to approve repurchase of the Company's ordinary shares 99.97% 0.03% 0.02% 693 505 378 77.54%”

• The board is now forced into a mandatory engagement process with shareholders to address concerns regarding the execution of executive compensation.

  “As a result of there being more than 25% of the votes exercised against the non-binding advisory vote number 2, shareholders will be invited to raise their concerns or recommendations on the remuneration implementation report.”

• The re-election of director Rose Keanly faced notable opposition at 10.28%, signaling minor but present scrutiny regarding board composition.

  “Ordinary Resolution number 3.3: Re- election of director - Rose Keanly 89.72% 10.28% 0.01% 693 553 358 77.55%”

• The broader remuneration policy was endorsed with 89.12% support, confirming shareholder backing for the structural compensation framework.

  “% of Abstain Issued Title For % Against % %* Total Votes Capital* Ordinary Resolution number 1: Re- appointment of KPMG Inc as external auditors 98.34% 1.66% 0.01% 693 553 108 77.55% Ordinary Resolution number 2: Re- appointment of PricewaterhouseCoopers Inc as external auditors 98.41% 1.59% 0.01% 693 553 358 77.55% Ordinary Resolution number 3.1: Re- election of director - Tasneem Abdool- Samad 99.65% 0.35% 0.01% 693 553 358 77.55% Ordinary Resolution number 3.2: Re- election of director - Alison Beck 99.96% 0.04% 0.01% 693 553 358 77.55% Ordinary Resolution number 3.3: Re- election of director - Rose Keanly 89.72% 10.28% 0.01% 693 553 358 77.55% Ordinary Resolution number 3.4: Re- election of director - Fulvio Tonelli 99.65% 0.35% 0.01% 693 553 358 77.55% Ordinary Resolution number 4.1: Election of director - Paul Smith 99.94% 0.06% 0.01% 693 553 358 77.55% Ordinary Resolution number 4.2: Election of director - Brian Kennedy 99.64% 0.36% 0.01% 693 553 358 77.55% Ordinary Resolution number 5.1: Appointment of Group Audit and Compliance Committee member - Paul Smith 99.94% 0.06% 0.01% 693 553 358 77.55% Ordinary Resolution number 5.2: Appointment of Group Audit and Compliance Committee member - Tasneem Abdool-Samad 99.65% 0.35% 0.01% 693 553 358 77.55% Ordinary Resolution number 5.3: Re- appointment of Group Audit and Compliance Committee member - Zarina Bassa 99.97% 0.03% 3.46% 662 680 182 74.09% Ordinary Resolution number 5.4: Re- appointment of Group Audit and Compliance Committee member - Alison Beck 98.85% 1.15% 0.01% 693 553 358 77.55% Ordinary Resolution number 5.5: Re- appointment of Group Audit and Compliance Committee member - Peter Mageza 99.98% 0.02% 0.01% 693 553 358 77.55% Ordinary Resolution number 5.6: Re- appointment of Group Audit and 98.15% 1.85% 0.01% 693 553 358 77.55% Compliance Committee member - Fulvio Tonelli Ordinary Resolution number 5.7: Re- appointment of Group Audit and Compliance Committee member - Sindi Zilwa 99.95% 0.05% 0.01% 693 553 358 77.55% Ordinary Resolution number 6.1: Appointment of Social, Sustainability and Ethics Committee member - Fulvio Tonelli 99.92% 0.08% 0.01% 693 553 358 77.55% Ordinary Resolution number 6.2: Appointment of Social, Sustainability and Ethics Committee member - Nonhlanhla Mjoli-Mncube 99.97% 0.03% 0.01% 693 553 358 77.55% Ordinary Resolution number 6.3: Appointment of Social, Sustainability and Ethics Committee member - Rose Keany 95.32% 4.68% 0.01% 693 553 358 77.55% Ordinary Resolution number 6.4: Appointment of Social, Sustainability and Ethics Committee member - Sindi Zilwa 99.94% 0.06% 0.01% 693 553 358 77.55% Ordinary Resolution number 6.5: Appointment of Social, Sustainability and Ethics Committee member - Kenny Fihla 99.98% 0.02% 0.01% 693 553 358 77.55% Ordinary Resolution number 7: Placing the authorised but unissued ordinary shares of the Company under the control of the directors 94.48% 5.52% 0.01% 693 553 358 77.55% Non-binding advisory vote 1: Endorsement of remuneration policy 89.12% 10.88% 0.01% 693 550 908 77.55% Non-binding advisory vote 2: Endorsement of implementation report 56.63% 43.37% 0.01% 693 553 108 77.55% Special Resolution number 1: Approval of non-executive directors' remuneration 98.07% 1.93% 0.01% 693 550 908 77.55% Special Resolution number 2: General authority to the directors to approve repurchase of the Company's ordinary shares 99.97% 0.03% 0.02% 693 505 378 77.54% Special Resolution number 3: Financial assistance for subscription of securities - Section 44 of the Companies Act 99.23% 0.77% 0.01% 693 551 158 77.55% Special Resolution number 4: Financial assistance to a related or inter-related company - Section 45 of the Companies Act 99.08% 0.92% 0.01% 693 551 158 77.55% *Based on the total number of shares in issue Notification of amendments to the Companies Act, relating to remuneration disclosure and approval requirements, was issued on 22 May 2026 and these came into force with immediate effect.”

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