SLA.L Regulatory News (SLA)

Standard Life Aberdeen plc

('the Company')

2020 Annual General Meeting Voting Results - Update Statement

At the Company's Annual General Meeting (AGM) on Tuesday 12 May 2020, 37.36% of votes were cast against Resolution 16 - "To approve and adopt the draft Articles of Association in the form produced to the meeting".

One of the proposed Article changes was to provide the Company with the option to allow for shareholders to join meetings remotely and to convene meetings at which electronic facilities were available for remote participation. This change was put forward to allow flexibility in the organisation of meetings, and in the context of COVID-19 restrictions was thought to be uncontroversial.

Following failure to receive the necessary 75% majority for a special resolution, the Company contacted shareholders representing 19% of its Issued Share Capital following the AGM. Those who had voted against the resolution were concerned that the proposed changes had not been clear enough as to the Company's future intentions and would have allowed the Company to hold 'virtual only' shareholder meetings (i.e. one where there was no physical location at which shareholders could attend the meeting in person).

The Board recognises the importance of shareholder meetings, including the AGM, and values its engagement with shareholders, in particular due to the Company's strong base of retail shareholders. The Board has no plans to do away with physical meetings (when social distancing rules allow), and believes that allowing shareholders to also participate by electronic means would be in the interests of shareholders to allow engagement with those unable to travel to the meeting.

The Company intends to resubmit the proposed Article changes for shareholder vote at the AGM in May 2021. To address shareholder concerns, the Company will clarify in the draft Articles and the 2021 AGM Guide that:

· the Company will continue to hold physical meetings whenever permitted to do so; and

· the proposed Article amendments would allow for 'hybrid' AGMs where members can participate in an AGM remotely as well as physically, but they would not permit the Company to hold 'virtual only' shareholder meetings.

12 November 2020

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LEI: OTMBS544NMO7GLCE7H90

Classification: 3.1. Additional regulated information required to be disclosed under the laws of a Member State

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