Nova Ljublj. S Regulatory News (NLB)

Date: May 7, 2020

NLB d.d., Trg republike 2, 1000 Ljubljana

in connection with the convocation of the 35th General Meeting of NLB d.d.

hereby publishes

editorial correction of the convocation of the 35th General Meeting of NLB d.d.

In publication of the convocation of the 35th General Meeting of NLB d.d., which will be held on 15 June 2020 at 11.00 (start of registration at 10.30) at CANKARJEV DOM, kulturni in kongresni center, Prešernova cesta 10, Ljubljana (publication number INI-275/20 dated 4 May 2020), an editorial error occurred in the proposal submitted by the Management Board of NLB d.d. and Supervisory Board of NLB d.d. under point 8 of the Agenda entitled "Disbursement to Members of the Supervisory Board of NLB, who are employees' representatives", and as a result the following introductory text is accidentally written in the proposal: "Supervisory Board of NLB d.d. proposes that the…". The editorial error shall be corrected by deleting the aforementioned accidentally written introductory text of the proposal.

The resolution proposed by the Management Board of NLB d.d. and Supervisory Board of NLB d.d. under point 8 of the Agenda entitled "Disbursement to Members of the Supervisory Board of NLB, who are employees' representatives", shall after the editorial correction read correctly:

"Payment of an individual member of the Supervisory Board representing the interests of employees ("employee representatives") for performing the function amounts to EUR 60,000 gross per year ("Base Pay"), reduced by the gross amount of salary payment, all allowances referring to work, and holiday allowance that an individual employee representative receives if employed in NLB d.d. or any other member of the NLB Group ("Gross Pay") in an individual year from the employment

Employee representatives shall receive for their membership in the Committees of the Supervisory Board an additional payment for performing the function of a Committee member, which for an individual member amounts to 10% of the Base Pay ("Extra Pay"), whereby the Extra Pay is payable for membership in not more than two Committees, irrespective of whether or not the employee representative is a member of more than two Committees.

Monthly payment is calculated in the way that 1/12 of the Base Pay in the amount of EUR 5,000 gross (increased by potential 1/12 of Extra Pay) is reduced by the Gross Pay from employment in NLB d.d. or any other member of the NLB Group in an individual month. Should the Gross Pay in an individual month exceed EUR 5,000 (increased by potential Extra Pay), monthly payment in the next month shall be reduced by the rest of the Gross Pay exceeding this amount.

If Employee representatives perform the function for less than a month, they are entitled to a proportional payout based on the number of days they perform each function.

Employee representatives shall be entitled to the reimbursement of travel expenses, daily allowances and costs of overnight accommodation related to their work in the Supervisory Board, namely up to the amount specified in the regulations on reimbursement of work-related expenses and other income not included in the tax base. Accommodation expenses shall be reimbursed if the permanent or temporary residence of an employee representative who is a member of a Supervisory Board committee is at least 100 kilometres away from the place of work and he is unable to return as there is no public transport connection scheduled or due to objective reasons.

Employee representatives shall not be entitled to any benefits exceeding the provision of the conditions for unhindered work of the Supervisory Board (payment of insurance premiums (except for liability insurance), company car, company flat and fuel). Employee representatives shall be entitled to benefits providing for or improving the conditions or method of their work, considering the Bank's needs and the individual requirements of individual employee representative, on which the Supervisory Board shall decide (IT equipment, professional training, visits to institutions, organisations and bodies, and liability insurance).

The resolution Determination of the payment for performing the function of the members of the Supervisory Board and its committees, adopted at the 34th General Meeting of NLB d.d. on 21 October 2019, shall not apply to the employee representatives."

The editorial correction of the resolution is available at this website and at www.nlb.si, website of the London Stock Exchange (Regulatory News Service) or at the website of AJPES. We apologise for any inconvenience resulting from the editorial correction. 

Investor RelationsNLB d.d.