PRESS RELEASE : Lenzing AG / Resolutions adopted by the virtual Annual General Meeting of Lenzing AG

=------------------------------------------------------------------------------- 
  Corporate news transmitted by euro adhoc with the aim of a Europe-wide 
  distribution. The issuer is responsible for the content of this announcement. 
=------------------------------------------------------------------------------- 
 
This year's Annual General Meeting of Lenzing AG approved all the items on the 
agenda. Lenzing's Managing Board presented the sustainability strategy and a 
strategic outlook, amongst other things. 
 
Annual & Special Corporate Meetings 
 
Lenzing - At the 77th Annual General Meeting of Lenzing AG, which was once again 
held virtually on Wednesday, April 14, 2021 via livestream due to the COVID-19 
pandemic, the members of the Managing Board and Supervisory Board were formally 
discharged from liability for the business year 2020. KPMG Austria GmbH 
Wirtschaftsprüfungs- u. Steuerberatungsgesellschaft was appointed to serve as 
the auditor of the annual financial statements and consolidated annual financial 
statements for the business year 2021. 
 
Furthermore, the Annual General Meeting adopted the resolution on the 
compensation to be paid to Supervisory Board members as well as the principles 
underlying the remuneration of the members of the Managing Board. In addition to 
financial performance criteria, the remuneration policy of Lenzing AG regulating 
the multi-year, performance-oriented remuneration paid to the Managing Board 
members will also be linked in the future to non-financial sustainability 
criteria (ESG) designed to further promote the sustainable business strategy of 
Lenzing AG. 
 
Zwtl.: Fully on track strategically 
 
The Managing Board of Lenzing AG presented the business development of the year 
2020, a strategic outlook and sustainability strategy including the relevant 
roadmap to achieve climate targets to the participating shareholders. For 
Lenzing AG, the business year 2020 was also primarily impacted by the COVID-19 
pandemic. Nevertheless, the company succeeded in remaining fully on track in 
such a challenging time and continued to determinedly press ahead with its 
strategic objectives. The implementation of its ambitious climate targets 
enabled the company to actively contribute to mastering the problems caused by 
climate change. In 2019, Lenzing made a strategic commitment to reducing its 
greenhouse gas emissions per ton of product by 50 percent by the year 2030. The 
goal is to operate in a climate-neutral manner by 2050. 
 
The substantial investments made in Thailand and Brazil not only support Lenzing 
in its transformation to a supplier of environmentally compatible specialty 
fibers but also comprise an important milestone on this journey which 
sustainably increases the company's enterprise value. The facility in Thailand 
is conceived as a CO2 neutral production plant, whose excellent infrastructure 
allows for a sustainable biogenic energy supply. For its part, the production 
plant in Brazil will feed more than 50 percent of the generated electricity into 
the public grid as renewable energy, thus giving it a positive net carbon 
footprint. 
 
The implementation of these two key projects is proceeding ahead as planned in 
spite of the direct impacts of the coronavirus crisis. The pulp plant in Brazil 
is scheduled to be put into operation in the first half of 2022 and will 
significantly increase Lenzing's own in-house supply of dissolving pulp. 
Production in Thailand is expected to commence towards the end of 2021, further 
raising the share of eco-friendly specialty fibers in the Lenzing product 
portfolio. 
 
Zwtl.: New appointments to the Supervisory Board 
 
Dr. Veit Sorger retired from the Supervisory Board of Lenzing AG on his request 
effective at the end of the Annual General Meeting. Veit Sorger had been a 
Member of the Supervisory Board since 2004 (also serving as Deputy Chairman 
since 2011) and served on various Supervisory Board committees. Mr. Sorger 
worked in close partnership with Lenzing over a period of more than 17 years, 
leveraging his position on the Supervisory Board and his industrial and 
management experience to exert a major influence on many of the important 
strategic measures taken by the company. Lenzing AG would like to sincerely 
thank him for his longstanding loyalty and constructive cooperation. 
 
The Annual General Meeting elected Dr. Markus Fürst, Managing Director of B&C 
Industrieholding GmbH, and Thomas Cord Prinzhorn, MBA, CEO of Prinzhorn Holding 
GmbH, to serve on the Supervisory Board until the end of the Annual General 
Meeting resolving upon the discharge of the Supervisory Board members for the 
business year 2024. Moreover, the Supervisory Board mandate of Dipl.-BW Peter 
Edelmann was extended (up until the Annual General Meeting resolving upon the 
discharge of the Supervisory Board members for the business year 2023) along 
with the mandate of Dr. Stefan Fida (up until the Annual General Meeting 
resolving upon the discharge of the Supervisory Board members for the business 
year 2024). 
 
As a result, the Supervisory Board of Lenzing AG consists of ten members elected 
by the Annual General Meeting: the shareholder representatives Dipl.-BW Peter 
Edelmann, Mag. Helmut Bernkopf, Dr. Christian Bruch, Dr. Stefan Fida, Dr. Markus 
Fürst, Dr. Franz Gasselsberger, Melody Harris-Jensbach, Thomas Cord Prinzhorn, 
MBA, Mag. Patrick Prügger and Dr. Astrid Skala-Kuhmann, as well as Herbert 
Brauneis, Ing. Daniela Födinger, Helmut Kirchmair, Georg Liftinger and Johann 
Schernberger appointed by the Works Council. 
 
In the subsequent constituent meeting of the Supervisory Board, Dipl.-BW Peter 
Edelmann was elected as Chairman of the Supervisory Board of Lenzing AG. Mag. 
Patrick Prügger was elected to serve as the 1st Deputy Chairman and Dr. Stefan 
Fida to be the 2nd Deputy Chairman of the Supervisory Board. 
 
The curricula vitae of the Supervisory Board members can be downloaded under 
https://www.lenzing.com/investors/shareholders-meeting/2021 [https:// 
www.lenzing.com/investors/shareholders-meeting/2021]. Here you can also read 
about details and the outcome of voting on the resolutions pertaining to the 
individual items on the agenda. 
 
 
 
Further inquiry note: 
Daniel Winkelmeier 
Vice President Corporate Communications a.i. 
Lenzing AG 
Phone: [phone] 
E-mail: [e-mail] 
 
end of announcement                         euro adhoc 
=------------------------------------------------------------------------------- 
 
 
 
 

(END) Dow Jones Newswires

April 14, 2021 09:40 ET (13:40 GMT)