Alfa Laval : minutes AGM 2023

Unofficial translation

Minutes from the Annual General

Meeting in Alfa Laval AB (publ), Reg.

No. 556587-8054, on April 25, 2023 in

Lund

§1 Opening of the Annual General Meeting

The Annual General Meeting was opened by Dennis Jönsson, Chairman of the Board of Directors.

§2 Election of Chairman for the general meeting

Dennis Jönsson was appointed Chairman of the Meeting. It was noted that the Chairman appointed the company's Group General Counsel Emma Adlerton to keep the minutes of the Meeting.

The Meeting approved that third parties were allowed to participate in the Meeting as audience.

§3 Preparation and approval of the voting register

The Meeting approved the adjusted list of shareholders as voting register at the Meeting, Exhibit 1.

§4 Approval of the agenda for the general meeting

The Meeting adopted the agenda, proposed in the convening notice, as agenda for the Meeting.

§5 Election of one or two persons to attest the minutes

The Meeting resolved that Christian Månsson and Javiera Ragnartz were to attest the minutes in addition to by the Chairman.

§6 Determination whether the general meeting has been duly convened The Meeting established that the general meeting had been duly convened.

§7 Presentation by the CEO

The CEO of the company, Tom Erixon, held a presentation. Questions were asked and answered.

§8 Presentation of the annual report and the Auditors' report, as well as the consolidated annual report and the Auditors' report for the group, and the Auditors' report regarding compliance with the applicable Executive Remuneration Policy

The annual report and the Auditors' report for 2022, as well as the consolidated annual report and the Auditors' report on the consolidated annual report for 2022 were presented together with the Auditors' report regarding compliance with the applicable

N.B. This is an unofficial translation of the Swedish minutes of Annual General Meeting 2023 into English. In case of any discrepancies between the Swedish text and the English translation, the Swedish text shall prevail.

Unofficial translation

Executive Remuneration Policy. The authorized public accountant Staffan Landén reported on the audit and the main content of the Auditors' report, according to which, among other things, the Auditors recommend that the Meeting resolves in accordance with the resolutions under § 9(a)-(c) below.

§9(a) Resolution on the adoption of the income statement and the balance sheet as well as the consolidated income statement and the consolidated balance sheet

The Meeting determined the income statement and the balance sheet as well as the consolidated income statement and the consolidated balance sheet, as presented in the 2022 annual report.

§9(b) Resolution on allocation of the company's profit according to the adopted balance sheet and record date for distribution of profits

The Meeting resolved on distribution of profits in accordance with the Board of Directors' proposal in the annual report, comprising a dividend of SEK 6 per share, with the record date April 27, 2023.

§9(c) Resolution on discharge from liability for members of the Board of Directors and the CEO

The Meeting resolved to discharge all individuals who held positions in the company as Board members, deputy members or CEO during 2022 from liability in respect of their management of the company's business for the financial year 2022.

It was noted that non of the persons participated in this resolution as far as it regarded themselves.

It was noted that shareholders representing 185 121 shares and votes (0.06 percent of present shares and votes at the Meeting) voted against the proposal regarding the CEO and that shareholders representing 877 439 shares and votes (0.29 percent of present shares and votes at the Meeting) voted against the proposal regarding the Board members.

§10 Presentation of the Board of Directors' remuneration report for approval

The Meeting approved the remuneration report presented by the Board of Directors.

§11 Determination of the number of members and deputy members of the Board of Directors to be elected by the general meeting as well as the number of Auditors and deputy Auditors

The Meeting resolved, in accordance with the Nomination Committee's proposal, that the number of Board members to be elected by the Meeting shall be nine with no deputies, and that both the number of Auditors and deputy Auditors shall be two.

§12 Determination of compensation to the Board of Directors and the Auditors

The Meeting resolved, in accordance with the Nomination Committee's proposal, that the compensation to the Board of Directors shall be SEK 7 150 000 to be distributed among the members of the Board of Directors who are elected by the general meeting and not employed by the company, as follows.

N.B. This is an unofficial translation of the Swedish minutes of Annual General Meeting 2023 into English. In case of any discrepancies between the Swedish text and the English translation, the Swedish text shall prevail.

Unofficial translation

•	Chairman of the Board of Directors	SEK 1 950 000
•	Other members of the Board of	SEK 650 000
	Directors

Furthermore, the Meeting resolved, in accordance with the Nomination Committee's proposal, that the compensation mentioned below shall be distributed to elected members of the Board who also hold a position as members or Chair of the Committees as follows.

• Additional compensation to the Chairman of the Audit Committee
• Additional compensation to other members of the Audit Committee
• Additional compensation to the Chairman of the Remuneration Committee
• Additional compensation to other members of the Remuneration Committee

SEK 300 000

SEK 150 000

SEK 75 000

SEK 75 000

Moreover, the Meeting resolved that the fee to the company's Auditors shall be paid as per approved invoice.

§13 Election of Chairman of the Board of Directors, other members and deputy members of the Board, as well as Auditors and deputy Auditors

The Meeting resolved, in accordance with the Nomination Committee's proposal, to reelect Dennis Jönsson, Finn Rausing, Henrik Lange, Jörn Rausing, Lilian Fossum Biner, Ray Mauritsson and Ulf Wiinberg as members of the Board of Directors, as well as to elect Anna Müller och Nadine Crauwels as new members of the Board of Directors. The meeting further resolved to re-elect Dennis Jönsson as Chairman of the Board of Directors. The Board members and the Chairman were elected for the forthcoming year, thus for the time up to the end of the Annual General Meeting 2024.

Furthermore, the Meeting resolved, in accordance with the Nomination Committee's proposal and for the time up to the end of the Annual General Meeting 2024, to re-elect the authorized public accountant Karoline Tedevall and to elect the authorized public accountant Andreas Troberg as the company's Auditors, as well as to re-elect the authorized public accountants Henrik Jonzén and Andreas Mast to be deputy Auditors for the company.

§14 Resolution on reduction of the share capital by cancellation of shares in the company and on increase of the share capital through a bonus issue

The following proposals were presented by the Board of Directors.

That the Annual General Meeting resolves to reduce the share capital by cancellation of the 550 508 shares currently held by Alfa Laval AB and that the reduction amount is

N.B. This is an unofficial translation of the Swedish minutes of Annual General Meeting 2023 into English. In case of any discrepancies between the Swedish text and the English translation, the Swedish text shall prevail.

Unofficial translation

transferred to the company's non-restricted equity, whereby the share capital is reduced by SEK 1 485 377.34.

That the Annual General Meeting simultaneously resolves, in order to restore the share capital after the reduction of the share capital, to increase the share capital by SEK 1 485 377.34 by way of a bonus issue without issuing new shares, and that the reduction amount is transferred from the company's non-restricted equity.

The following report, prepared in accordance with Chapter 20, Section 13 of the Swedish Companies Act, was presented.

The effect of the Board of Directors' proposal on reduction of the share capital is that the company's share capital and restricted equity will be reduced by SEK 1 485 377.34. The effect of the Board of Directors' proposal regarding increase of the share capital by way of a bonus issue is that the share capital and restricted equity will be increased by SEK 1 485 377.34. Thus, the combined effect is that neither the company's share capital nor the restricted equity is reduced.

The Auditors' statement in accordance with Chapter 20, Section 14 of the Swedish Companies Act was presented, Exhibit 2.

The Meeting resolved in accordance with the Board of Director's proposals. It was noted that the resolutions were supported by shareholders holding at least two-thirds of both the votes cast and the shares represented at the Meeting.

§15 Resolution on the Executive Remuneration Policy for compensation to executive officers

The general meeting resolved, in accordance with the Board of Directors' proposal included in the notice, to amend the Executive Remuneration Policy adopted by the Annual General Meeting 2021, Exhibit 3.

§16 Closing of the general meeting

The Chairman declared the Meeting closed and welcomed the shareholders to the Annual General Meeting of 2024 which is scheduled to take place on April 25, 2024.

N.B. This is an unofficial translation of the Swedish minutes of Annual General Meeting 2023 into English. In case of any discrepancies between the Swedish text and the English translation, the Swedish text shall prevail.

Unofficial translation

At the minutes:

Approved:

__________________	_____________________
Emma Adlerton	Dennis Jönsson

_____________________

Christian Månsson

_____________________

Javiera Ragnartz

N.B. This is an unofficial translation of the Swedish minutes of Annual General Meeting 2023 into English. In case of any discrepancies between the Swedish text and the English translation, the Swedish text shall prevail.