ABC.L Regulatory News (ABC)

11 May 2020

ABCAM PLC

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

Update on 2019 Annual General Meeting Resolution Vote

In accordance with the requirement of Provision 4 of the UK Corporate Governance Code (2018) (the "Code"), Abcam plc is providing this update following the result of receiving 41.07% of votes against the resolution to re-elect Peter Allen ('Chairman') at its annual general meeting ("AGM') held on 13 November 2019.

Prior to, and since the AGM, the Company has constructively engaged with shareholders to understand their views with respect to multiple board commitments. The Board and Company recognise the increased focus on 'overboarding' of directors following the publication of the updated Code last year and understand that a number of institutional investors and proxy advisers have developed specific guidelines with regard to this. The Company further recognises that in accordance with the Code and the view of certain shareholders, it is best practise for the Chairman not to be a member of the Audit Committee.

In light of these views, as well as the Board and Company's ongoing commitment to comply with best practise where possible, the Company notes that on 5 March 2020, it was announced by Dirunal Group plc that Mr Allen would step down as Chairman of the Board of Diurnal Group plc on 30 June 2020. In addition, Mr Allen will relinquish his position as a member of the Audit and Risk Committee. Mr Allen's roles as Chairman of the Nominations Committee and a member of the Remuneration Committee remain unchanged.

The Board is confident that Mr Allen discharges effectively his role as Chairman notwithstanding his other board commitments. The Board believe that Mr Allen plays an important role in helping drive the strategy of the Group and remain fully supportive of the role and guidance he provides to the Company.

The Company will continue to engage with shareholders on this topic and will set out further details within the Company's 2020 Annual Report and Accounts.

Abcam plc

+44 (0) 1223 696 000

Marc Perkins, Company Secretary

About Abcam plc

As an innovator in reagents and tools, Abcam's purpose is to serve life science researchers globally to achieve their mission, faster. Providing the research and clinical communities with tools and scientific support, the Group offers highly validated biological binders and assays to address important targets in critical biological pathways.

Already a pioneer in data sharing and ecommerce in the life sciences, Abcam's ambition is to be the most influential company in life sciences by helping advance global understanding of biology and causes of disease, which, in turn, will drive new treatments and improved health.

Some two-thirds of the world's 750,000 life science researchers use Abcam's antibodies, reagents, biomarkers and assays. By actively listening to and collaborating with these researchers, the Group continuously advances its portfolio to address their needs. A transparent programme of customer reviews and datasheets, combined with an industry-leading validation initiative, gives researchers increased confidence in their results.

Founded in 1998 and headquartered in Cambridge, UK, the Company sells to more than 140 countries. Abcam was admitted to AIM in 2005 (AIM: ABC).

Please visit www.abcam.com or www.abcamplc.com to find out more.