On December 12, 2024, Jabil Inc announced that it received a shareholder proposal from the New York City Carpenters Pension Fund requesting that the Board adopt a new Director Election Resignation Governance Guideline provision to address those situations when one or more incumbent Board nominees fail to receive the required majority vote for re-election. The Resignation Guideline shall provide that each director upon joining the Board tender an irrevocable conditional resignation conditioned on the director?s failure to receive the required majority vote support in an uncontested election. The Guideline shall provide that the Board in the exercise of its business judgment will determine whether acceptance or rejection of a tendered resignation is in the best interests of the Company.

The Guideline shall further stipulate that if a director?s resignation is rejected and the director remains as a ?holdover director? but is not re-elected at the next annual meeting of shareholders, that director?s second tendered resignation shall be effective ninety days after the vote certification. In addition, the Company recommended the shareholders vote against the proposal at the annual shareholders meeting scheduled to be held on January 23, 2025.