General Assembly of PODRAVKA Inc. held - resolutions passed

Pursuant to the provisions of the Regulation (EU) No. 596/2014 of the European Parliament and of the Council of 16th April 2014 on market abuse (Market Abuse Regulation), the Capital Market Law and the Stock Exchange Rules, we hereby notify that on 30th April 2020, starting at 12:30 PM, the General Assembly of PODRAVKA Inc. headquartered in Koprivnica, Ante Starčevića 32, PIN 18928523252 (hereinafter: Company) was held, where the agenda was determined and announced as was announced in the Invitation to the General Assembly of PODRAVKA Inc.

At the General Assembly 5.653.508 shares or 79,40% of the share capital of the Company were present.

The General Assembly passed the resolutions as was previously announced in the items 4, 5, 6 and 7 of the Invitation to the General Assembly of the Company.

Counterproposal of the Restructuring and Sale Center, as the legal representative of the Republic of Croatia and the Croatian Pension Insurance Institute, to the Decision Proposal on distribution of the Company’s profit for the year 2019 as published in the Invitation for the General Assembly of the Company under item 3 of the agenda, was received at the General Assembly of the Company.

Counterproposal was voted with the needed majority of the votes of the shareholders i.e. their representatives and proxies.

The General Assembly passed the resolution in the item 3 of the Invitation to the General Assembly of the Company as follows:

RESOLUTION

on distribution of the profit of PODRAVKA Inc. for the year 2019

I

It is determined that net profit of PODRAVKA Inc., M.B. 03454088, PIN 18928523252 (hereinafter: the Company) for the year 2019 stated in the audited Annual Financial Statements of the Company, amounts HRK 145.189.103,67.

II

The net profit of the Company for year 2019 from item I of this Decision shall be allocated as follows:

- legal reserves in the amount of HRK 7.259.455,18.

III

It is approved that dividend to shareholders of the Company, owners of ordinary shares under the ticker PODR-R-A, shall be paid out in the gross amount of HRK 9.00 (nine kunas) per share.

Dividend shall be paid out to all shareholders that are registered as shareholders at the Central Depository & Clearing Company Inc. on May 29th 2020 (record date).

Date on which securities of the Company will be traded without dividend payment right is May 28th 2020 (ex date).

Dividend payment claim will be due on June 26th 2020 (payment date).

IV

After the net profit of the Company was being allocated in accordance with item II and III of this Decision, the remaining part of net profit shall be carried to other reserves.

The amount of dividend accounted for the Company's treasury shares shall be retained in undistributed profit.