Caltex Australia : 2020 AGM Addresses and Presentation

2020 Caltex Annual General Meeting Addresses

Thursday, 14 May 2020 (SYDNEY): Caltex Australia Limited provides the attached Chairman's and Interim Chief Executive Officer's addresses and presentation to the 2020 Annual General Meeting being held today.

Authorised for release by: the Chairman of Caltex Australia Limited.

CALTEX AUSTRALIA LIMITED

ANNUAL GENERAL MEETING - 14 MAY 2020

ADDRESSES

Good morning and welcome to the 2020 Annual General Meeting of Caltex Australia Limited.

We would like to begin by acknowledging the Traditional Owners of the land on which we meet today, the Gadigal people of the Eora nation and pay our respects to Elders past and present.

My name is Steven Gregg and I have the honour of being your Chairman. As a result of the proxies I hold as Chairman, we have a quorum present, so I declare this meeting open.

I am disappointed that we are unable to meet with our shareholders personally today as a result of the public health restrictions in place in response to the COVID-19 pandemic. However, I look forward to having the chance to engage with shareholders face-to-face when we meet next year.

Today, we are webcasting the entire meeting live, and through this live webcast we will be able to receive and answer your questions online.

To ask a question at any time, select the question icon at the top right of your screen. Type in your question, starting by noting the item of business to which the question relates. Then press the send icon and you will receive a confirmation that your question has been received.

The portal is now open to receive your questions and they can be submitted at any time throughout the meeting. Please keep each question short and to the point so that as many shareholders as possible can ask a question. Each shareholder should restrict themselves to no more than two questions.

Jeff Etherington, our Interim CFO, is here with me today and will read out the name of the shareholder and their question. As our time is limited, it may not be possible for us to answer all questions.

Let me start the meeting today with some introductions.

With me on stage is our Interim Chief Executive Officer, Matthew Halliday. Also at our Sydney head office are Non-Executive Directors Barbara Ward, Penny Winn and Melinda Conrad. Today, Melinda Conrad is seeking re-election.

We also have our Company Secretary, Georgina Koch and representatives of our external auditor KPMG in attendance.

Members of the Caltex Board also joining us by teleconference today are non-executive directors Mark Chellew and Bruce Morgan.

Today we say farewell to Bruce Morgan, who will retire as a Director of Caltex after 7 years on the Board. Bruce has made a valued contribution to the development of the organisation and the Board over many years, including as Chair of the Audit Committee and as a member of the Safety

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and Sustainability Committee. We thank Bruce for his service and wish him all the best for the future.

With Bruce departing, and the conclusion of take over discussions with Couche Tard, we have made good progress on our search for new directors who can make a positive contribution to the future of Caltex and who will bring complementary skills to the Board. I look forward to updating shareholders on these developments in the near future.

The remaining members of the Caltex leadership team are joining via teleconference.

Before we progress with today's agenda, I would like to provide a brief summary on the recent conclusion of discussions with Couche-Tard. I will then provide my review of our 2019 performance and update on progress with our strategy for growth, before handing over to our Interim CEO Matt Halliday for an update on trading conditions and our operational response to the COVID-19 pandemic.

Matt will also talk in some detail about the revitalization of the Ampol brand, which we are ready to launch back into the Australian retail fuels market later this year.

Shareholders would be aware that we recently concluded discussions with Couche-Tard regarding their conditional, non-binding and indicative acquisition proposal for Caltex.

The conclusion of discussions followed the end of the agreed due diligence period, with Couche- Tard deciding not to proceed due to the high level of economic uncertainty caused by the COVID- 19 pandemic.

The Caltex team has done an exceptional job navigating through the due diligence process and Couche-Tard have been highly complementary of their work.

Couche-Tard's own communications to market confirmed their view of the strategic fit of Caltex as a component of its Asia Pacific expansion strategy. Couche-Tard has also communicated a possible interest to re-engage with the board once there is sufficient clarity around the global economic outlook; although I would stress that there is no certainty that they will do so.

I would like to reiterate that the Caltex Board's priority at all times has been maximizing value for Caltex shareholders. While discussions at this point have concluded, we remain confident in our ability to unlock value for shareholders as an independent business.

Should we receive an approach in the future from Couche-Tard or any other party then we would be willing to consider the approach on its merits.

At the same time, we can have confidence in our future as an independent business. We have a well-articulated strategy that we believe will create significant long-term value for shareholders. We remain committed to this strategy and continue to execute, despite the current uncertainties created by the COVID-19 pandemic.

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A big part of our future will be our transition back to the iconic and company-owned Ampol brand. Today we seek shareholder approval to change our formal listed company name to Ampol. We have a comprehensive brand and network transition strategy in place that will ensure the Ampol brand will support our success into the future.

Ampol is an iconic brand and reflects our deep Australian heritage and expertise. Ampol continues to be regarded as a high-quality and trusted brand by Australian consumers and resonates across our key customer segments. The transition to Ampol also supports our evolution into a growing regional fuels and convenience business.

As a proud and independent Australian company, we are ready to revitalise and make the transition to Ampol and I look forward to hearing more from Matt on this a bit later in the meeting.

I will now provide my review of 2019 performance.

2019 was an important year for Caltex. While financial outcomes were disappointing, the business performed well in a challenging operating environment and we delivered a solid underlying result. Importantly, we made good progress executing our Fuels & Infrastructure and Convenience Retail growth strategies, which positions us to capture further value for shareholders.

There were many highlights from the last 12 months, including the expansion of capabilities in our Ampol trading and shipping business, earnings growth in Gull and Seaoil, the successful launch of Caltex Woolworths Metro, and the divestment of 25 higher and better use sites for approximately $136 million. We also successfully completed a $260 million Off-marketBuy-back and announced a transition to the Ampol brand, which we will hear more about later.

On a historic cost profit basis, in 2019 Caltex's net profit after tax was $383 million. Under our preferred method of reporting, replacement cost of sales operating profit, we recorded a net profit after tax of $344 million. This was down 38% compared with 2018.

Fuels & Infrastructure delivered a solid underlying result despite the impact of a tough domestic market, the reduced earnings from a repriced EG Group contract and the reduced refining earnings from outages and lower regional margins. Its earnings before interest and tax was $450 million, which is a decrease of 21% on 2018. Total fuels sales volumes increased by 3% to 21.1 billion litres.

The highlight of Fuels & Infrastructure's performance was from our international business, with improved performance across Gull and Seaoil. In total, international sales volumes increased by 36% to 4.8 billion litres.

Australian sales volumes, including our Convenience Retail and wholesale customers, fell by 3% to 16.3 billion litres. At Lytton, earnings before interest and tax was $70 million, down from $161 million in 2018. Total production at Lytton was 5.8 billion litres, a 6% decrease on 2018.

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Our Convenience Retail business delivered earnings before interest and tax of $201 million, approximately 35% lower than the outcomes achieved in 2018. Total Convenience Retail fuel sales volumes were 4.8 billion litres, which is 2.2% less than the 4.9 billion litres of fuels sales in 2018.

Despite the decline, retail fuel margins strengthened in the second half of 2019 as we renewed focus on our retail fuel offer. Caltex also made premium fuel share gains and delivered improved shop earnings.

We continued the transition of franchise sites to company operations in 2019, which is a key enabler of our Convenience Retail growth strategy. A total of 112 franchise sites were transitioned to company operations in 2019, bringing the total number of company operated sites to 631. More than 99% of the network will be company operated by the end of this year.

In 2019 we launched new initiatives to deliver improved returns for shareholders. In August, we announced a cost-out program to deliver $100 million of sustainable savings to our business, delivering $60 million from this program in 2019.

Importantly, we also announced the divestment of around 50 retail sites which are deemed to have a higher value through alternative use. The first tranche of 25 sites was sold for approximately $136 million.

These initiatives reflected the strong focus we had in 2019 on capital discipline and delivering a sustainable uplift in returns for shareholders.

We also delivered a significant number of strategic initiatives in 2019.

Our Ampol Singapore trading and shipping business was established in 2013 and since this time we have evolved our international operations from a single market supply function to a long-term growth engine.

In 2019, we continued this important work by announcing our intention to open an Ampol trading and shipping office in Houston, USA. We also announced our intention to create our first international storage position in South East Asia.

The Houston office opened in January 2020 and it works in combination with our existing team in Singapore to enable Caltex to benefit from sourcing improvements and investigate new markets. The international storage pilot in South East Asia is now also operational and will also provide new opportunities for us to capture value across the supply chain.

The extension of our operations creates a blueprint for expansion into new locations, products and services. This pipeline of international growth opportunities in Fuels & Infrastructure has the potential to deliver meaningful earnings growth over the next 5 years.

Turning to our Convenience Retail business, in 2019 we continued to execute our strategy and leverage our extensive retail network to capture opportunities. In 2019, we began a review of

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approximately 800 company-controlled retail sites, aimed at ensuring a tailored site offer can deliver earnings growth.

In August, we announced that we identified approximately 500 sites that could create further growth through an enhanced convenience offer. From this review we also finalised our three-tiered approach to retail store formats.

The opening of our first two Caltex Woolworths Metro stores, our tier-one format, was an important milestone as we executed this new format approach. This format sets a new standard of service, product quality and range that will disrupt the convenience sector.

Following this new approach to formats, we also launched a lower cost version of The Foodary at Five Dock to provide a strong example of how we can be efficient with capital and operating costs.

Finally, we launched Caltex self-serve as our tier-three format. Caltex self-service is a safe, reliable and competitive offer that can be rolled out at the right locations with lower capital and operating costs.

These milestones illustrate the strong progress we have made with our retail strategy. Coupled with the transition of sites to company operation and our refocus on a market-leading fuel offer, these initiatives will help us deliver a potential non-fuel earnings uplift of $85 million by 2024.

Caltex's commitment to safety underpins our reputation for safe and reliable supply and is a major driver of the engagement and productivity of our workforce. Our safety performance has been a major contributor to our success in recent years and we remain fully committed to maintaining a safe working environment for our employees and partners.

Given this we are disappointed that our 2019 safety performance did not meet the high standards we set ourselves.

In Fuels & Infrastructure, while we reduced the severity of personal safety incidents, recordable injuries and days away from work both increased. Similarly, while the number of Tier One process safety incidents was reduced to zero, we had an increase in the overall number of spills against our high standards.

In 2020, in Fuel & Infrastructure we are implementing an action plan to reduce the major causes of workplace injuries, which are repetitive and high muscle load manual tasks along with slips, trips and falls. In addition to the rollout of new training initiatives, where we know injuries occur, we will improve communication to raise personal awareness of safety hazards and where possible increase the presence of leaders in the field to reinforce the right safety behaviours and to receive feedback from our frontline teams. We have also reviewed the causes of spills in 2019 and have developed action plans for specific areas of our operations.

In Convenience Retail, last year we had an increase in safety incidents as sites transitioned to company operations. While these incidents are predominantly low consequence, we are committed

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to improvement and are focused on establishing the right safety culture through new programs, including more regular store communications and safety cards that reinforce awareness of common safety risks in our retail operations.

As a Board, we recognise that environmental, social and governance issues are significant to our investors, customers, employees and the community.

In 2019, we made significant progress with key sustainability initiatives and continued to embed sustainability into our corporate culture, and into our strategic and business planning processes. In March, we released our second Sustainability Report, which captures our performance from the year.

Importantly, we also launched our sustainability strategy for 2019 to 2021. This was preceded by a comprehensive materiality assessment of our sustainability risks that we conducted in early 2019.

Our sustainability strategy is framed by four pillars:

• The first pillar is safe and responsible business. This is aimed at ensuring we conduct our business activities safely and responsibly and that we look after our people.
• The second pillar is continuous improvement and optimization of assets. This ensures we deliver operational excellence and utilize our resources efficiently.
• The third pillar is contribution to the Australian economy and communities. This ensures we generate economic benefits for Australia and help develop communities.
• And finally, the fourth pillar is transition to a low carbon economy. This pillar ensures that we future-proof Caltex and support our customers as we transition to a low carbon future.

As part of this strategy, we conducted a review of the United Nation's Sustainable Development Goals and mapped these against our sustainability strategy to determine the areas where we could make the most impact. You can read about them in our Sustainability Report.

In 2019, we also tested our operations and corporate strategy against three plausible climate futures and prepared our three-year climate risk strategy. This strategy seeks to operationalize our Climate Change Position Statement and address the risks and opportunities identified in our analysis.

As I said last year, we have adopted the Task Force of Climate-related Financial Disclosures framework and have committed to full disclosure alignment by 2021.

As the leading provider of transport fuels in Australia, we acknowledge that we have a role to play in the transition to a low carbon future and are conscious of our important role in the economy and in communities. As such, we are committed to the work being undertaken as part of our sustainability strategy and continuing to meet our customers' changing energy and mobility needs.

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I encourage you to read our 2019 Sustainability Report to find more information about our approach to environmental, social and governance issues. You can find it on the Caltex website.

Before I hand over to Matt, I want to touch on the important subject of CEO succession.

The Board recognises the critical importance of CEO succession, and late last year we made significant progress in our search for a new Chief Executive Officer to replace Julian Segal. However, we believed it was not prudent nor practical to complete the search at that time, given the receipt of Couch Tard's conditional offer to acquire Caltex.

For this reason, in late February we announced that Julian would retire and step down as the company's Managing Director and Chief Executive Officer and that we would make interim appointments of strong internal leaders to ensure we were well placed to progress discussions on the potential transaction while continuing to focus on managing the business well.

On this basis Matt Halliday was appointed as Interim Chief Executive Officer, Louise Warner was appointed as Interim Chief Operating Officer and Jeff Etherington was appointed as Interim Chief Financial Officer.

These interim appointments have ensured the business has continued to be managed efficiently and with focus through a difficult period. Over the last two months since these appointments, discussions with Couche-Tard have concluded and we have taken quick and decisive action to respond to COVID-19.

The Board will review these interim appointments in due course and will provide further updates on CEO succession later in the year. Continuation of these interim positions ensures the business is best positioned to respond to COVID-19 disruptions, and progress execution of our articulated strategy.

I will now hand over to our Interim CEO, Matt Halliday, to talk more about our transition to Ampol and on the important issue of fuel security. Matt will also provide an update on trading conditions and our operational response to COVID-19.

Across our economy and communities, COVID-19 is having unprecedented impacts. Caltex continues to take strong action to protect shareholder value while ensuring we remain engaged with governments and continue to play an important role in our economy and communities as an essential service.

A big part of our work over the last month has been aligning our cost base with the significant demand drops we are seeing across the market. The Caltex Board and the executive leadership team will make an important contribution to support Caltex at this time, with all Directors and executive team members taking a 20% pay cut for an initial period of 3 months.

Matt will talk more about this now.

Thank you, Chairman.

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I want to provide a brief update on trading conditions and how we are responding to protect shareholder value in the current environment. I will then touch on our operational response to COVID-19, before touching on our exciting move to revitalise the much-loved and iconic Ampol brand.

Our first quarter trading update was released to the market in late April, with RCOP EBIT of $142 million broadly flat with the first quarter 2019 result, demonstrating the resilience of our integrated business, with strong performance in Convenience Retail mitigating the impacts of record low refiner margins and weakness across the economy. Our first quarter performance includes significant volume impacts from bushfires early in the year and the government response to COVID-19 from late March.

Unfortunately, the demand and broader impacts of COVID-19 on our business have become more acute as we have pushed into the second quarter. In the current environment we are seeing a weakened crude oil market, with increase in storage on water lifting crude and product freight rates. Global hydrocarbon demand weakness due to economic hibernation and reduced domestic and international travel is impacting several parts of our business:

• Australian industry jet demand expected to be down 80-90% during the period that travel restrictions remain in place;
• Convenience Retail fuel volumes are down 16% year to date through April in comparison to the same period in 2019; and
• Volume declines for Gull in New Zealand and Seaoil in the Philippines have been larger than Australian retail fuel volume declines, however the New Zealand market improved over the last week with a relaxation of controls.

Pleasingly, demand resilience continues to be observed in key B2B segments, including mining, agriculture and road transportation

In response to this environment, Caltex remains committed to taking necessary action to protect our assets and market-leading position, to optimise cashflows and shareholder value. We have taken several hard decisions since the onset of this crisis.

First, we have brought forward and are extending our Lytton refinery's annual Turnaround & Inspection for 2020. Global fuel demand erosion caused by COVID-19 is expected to impact refining conditions for at least several months and we have now safely suspended operations at the refinery and commenced this important maintenance program. Our decision will deliver a more capital efficient T&I and enable a reduction in the cost of the shutdown, as well as further optimisation of the supply chain, including a reduction in working capital. We estimate the program of work will be delivered safely and with a 10% reduction in planned capex and has been timed to coincide with a period of low margins.

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Second, we have reviewed our aviation business and taken early action in relation to stranded costs, including changes to our on-airport operations, deferral of capital investments and a reduction in workforce hours and lower contractor activity.

Third, target 2020 group capex is being reduced to below $250 million from the previously stated target of approximately $300 million by focusing only on critical business items.

Finally, we continue to review fixed costs across our business, including reductions in corporate costs. Actions from these reviews will be in addition to the previously announced $40 million cost- out program for 2020. Decisions already taken on this front to reduce costs include:

• a temporary 15-20% reduction in Convenience Retail weekly hours to align with current reduced customer activity;
• As the Chairman has already outlined, a 20% reduction in Board and Executive Team remuneration and a 10% reduction for senior leaders, for 3 months; and
• Reduced corporate costs, with measures including utilisation of annual leave and reduced hours.

The combined benefit from these early initiatives on cost are expected to save approximately $10 million per month of operating costs.

We will continue to take decisive action to protect our business as the current situation on COVID- 19 evolves. Importantly, Caltex enters the current period of COVID-19 uncertainty with a strong balance sheet and we will continue to protect our cashflows and to position ourselves to take advantage of opportunities that will arise when markets recover.

Turning now to our broader operational response to COVID-19.

I would first like to offer my thoughts to all shareholders, employees, customers, and partners at this difficult time. COVID-19 is having an impact on all parts of our economy and society and the last few months have proved challenging for government, business and the broader community.

For Caltex, we are proud of the important role we play in keeping our customers moving and serving the community as an essential service. Our focus has been on operating safely and protecting the health of employees and customers, while ensuring reliable supply for customers and delivering for the community as an essential service.

I want to quickly cover off on each of these in turn.

Our first priority is the safety of our employees, customers and partners. Over the last few months we have quickly implemented changes to the way we operate.

For those we are serving through our retail network, we have reduced customer touch points in- store and increased sanitation practices. This has included things like additional cleaning procedures for shift changeovers, protective screens at high volume sites, stopping the use of

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reusable coffee cups, increasing signage and making hand sanitiser and wipes available for customer use where possible.

At our truck stops, we have made changes to ensure we can continue to serve the transport sector and the essential workers that support it. This includes establishing designated eating areas with social distancing in mind, increasing cleaning of bathroom, shower and laundry facilities and using takeaway packaging where possible.

For those who we serve through our terminals, depots and other distribution facilities, we have adopted social distancing and additional cleaning procedures.

Second, we remain focused on reliable supply. We understand so many people across Australia depend on our essential products and services - whether this is fuel, lubricants or convenience products. We are committed to ensuring customers can continue to access these products and services where and when they are needed.

There has been some media and broader discussions about whether border controls in Australia or the global response to COVID-19 will impact fuel supply to or within Australia.

We can assure all shareholders, customers and communities that our fuel supply chains remain resilient. We have invested significantly in infrastructure and our supply chain capability over a long period and this means we are able to maintain the high standards of supply and availability you have come to expect.

Key to this strength is our Ampol Singapore team. Through this international sourcing and shipping capability and the strong relationships we have with suppliers globally, we have full confidence in adjusting our supply chains to continue to meet customer and community needs. Inside Australia, our teams are working closely with government authorities to ensure border controls and other restrictions do not impede on the supply of our products.

Despite the recent uncertainty in our economy and in global markets, we continue to progress our exciting work to deliver on the revitalization of an Australian icon - the relaunch of the much-loved and company-owned Ampol brand.

We announced this transition to the market late last year and I want to take this chance to update you on the progress we have made.

Over the last week we have launched our new Ampol logo to our employees, customers and other stakeholders and we are well-progressed with our transition plans. The leadership team remains confident in the plans we have in place for this transition.

The new Ampol logo, which you can see on your screen, draws on elements of the heritage red and blue Ampol brand, a nod to our company's proud history as an independent Australian company, while being modernised to reflect the scale and breadth of our operations today. That is, it links our history with our aspirations for the future - born Australian, world class.The new, modern

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and distinctive leaning 'A' is the centrepiece of the new logo design, symbolising the company's forward momentum and mindset to keep evolving to deliver on the world stage.

The new Ampol logo will be a beacon for our customers across Australia's largest retail and fuel distribution network. It will connect Ampol with a new generation of customers and underpins our commitment to again make it Australia's most loved and admired fuel brand.

While much has changed since Ampol was formed over 80 years ago, we've never been more focused on delivering for customers and shareholders and being a positive contributor in local economies and communities.

Trusted and high-quality products, a commitment to convenience and customer service and the confidence that comes with Australia's largest transport fuels network. That's what our customers can continue to expect from Ampol across our 2,000-strong branded site network, in our depots and terminals across Australia and across our operations overseas.

It is for these reasons that I believe Ampol is much better suited to carry us forward as an independent and fully integrated transport fuels and convenience business with operations in Australia and beyond. The revitalisation of Ampol is the start of an exciting journey and a change that will support our success well into the future.

Finally, I want to comment on the recent focus on global supply chains, fuel security and the Federal Government's announcements about establishing a national oil reserve.

Caltex takes its role as the market leader in transport fuels very seriously. As a proud Australian company, over many years we have invested in assets and capabilities across the supply chain to help Australia maintain fuel security and ensure safe and reliable supply for all our customers.

We have a strong track record of reliable fuel supply. There has been no widespread or sustained fuel shortages for several decades, including during major global disruptions. With our diverse supply chains, we are confident to supply our customers across the broad range of circumstances that we can face, and there are no supply issues in the current market environment.

Over the last month we have engaged proactively with state and federal governments across Australia and New Zealand on liquid fuel supply. As the market leader in Australia, with operations across all parts of the fuels value chain, we remain ready to assist in any way we can should the government wish to do more to bolster liquid fuel security for the future.

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2020 Annual General Meeting of Caltex Australia Limited

Acknowledgement

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Board of Directors and Company Secretary

Steven Gregg	Mark Chellew	Bruce Morgan	Georgina Koch
Chairman	Non-executive	Non-executive	Company Secretary
	Director	Director

Penny Winn	Melinda Conrad	Barbara Ward
Non-executive Director	Non-executive Director	Non-executive Director

Caltex Leadership Team	5

Matt Halliday	Jeff Etherington	Louise Warner	Joanne Taylor
Interim CEO	Interim Chief Financial	Interim Chief Operating	Executive General Manager,
	Officer	Officer	Convenience Retail

Alan Stuart-Grant	Viv Da Ros	Celina Cross	Georgina Koch
Executive General Manager, Strategy	Chief Information Officer	Executive General Manager,	Executive General Manager,
and Corporate Development		Human Resources	Legal and Corporate Affairs

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Address from the Chairman

Creating value by building on our foundations

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9

Safety performance and our people

	Fuels & Infrastructure Personal Safety			Process Safety and Spills
12								12
Safety	performance	and our	people
10	10
8								8
6								6
4								4
2								2
0								0
2016	2017	2018		2019	2016	2017	2018	2019
			Days Away from Work Injury Frequency Rate							Spills >1bbl and Marine Spills
			Total Recordable Injury Frequency Rate							Tier 1 Process Safety Incidents

Convenience Retail Personal Safety

20

15

10

5

0

2016

2017

2018

2019

Days Away from Work Injury Frequency Rate

Total Recordable Injury Frequency Rate

For definition of Tier 1 process safety incidents, refer to API Recommended Practice 754

Sustainability

10

12

Interim CEO

Address

Responding

to COVID-19

Operating

safely

Reliable

supply

Taking action

15

Supply security

16

General

Questions

Items of business

Consideration of Reports

Re-election of Melinda Conrad as a Director

Remuneration Report

Company name change from Caltex Australia Limited to Ampol Limited

Re-election of

Melinda Conrad

Date of Appointment

1 March 2017

Board Committees

Audit Committee, Human Resources Committee and Nomination Committee

• 25 years of expertise in consumer-related industries, including as a retail entrepreneur and CEO.
• Director of ASX Limited and Stockland Group.
• Previously served as a director of OFX Group Limited, The Reject Shop Limited and David Jones Limited.
• Strong executive experience in retail and consumer- related industries.
• BA (hons) from Wellesley College in Boston and an MBA from Harvard Business School.

Re-election of

Melinda

Conrad

Proxy votes

FOR	172,831,956	98.82%
AGAINST	1,626,689	0.93%
OPEN	439,747	0.25%
ABSTAIN	348,219

20

Remuneration

Report

Remuneration Report

Proxy votes

FOR	170,335,879	97.61%
AGAINST	3,769,848	2.16%
OPEN	409,737	0.23%
ABSTAIN	418,105

Change of company name

Proxy votes

FOR	174,177,272	99.60%
AGAINST	286,858	0.16%
OPEN	426,081	0.24%
ABSTAIN	356,400