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Main Results of Annual and Extraordinary General Meeting

globenewswire.com
AVT The article details the results of Alvotech's Annual and Extraordinary General Meeting, including board and committee compensation, and equity compensation for directors. It also mentions the approval of amended articles of association. The information is factual and does not indicate a positive or negative outlook for the company's stock.

Main Results of Annual and Extraordinary General Meeting The Annual and Extraordinary General Meeting (the "2023 AGM") of Alvotech (the "Company") was held on June 6, 2023 at Arendt House, 41A Avenue John F. Kennedy, L-2082 Luxembourg, Grand Duchy of Luxembourg.

Here are the main results of the 2023 AGM.

(a) Annual Board Service Retainer:

- All eligible directors: USD 50,000

- Chairperson: USD 20,000

- Deputy Chairperson: USD 25,000

Payments to the Chairperson and Deputy Chairperson are in addition to the regular Annual Board Service Retainer.

(b) Annual Committee Member Service Retainer:

- Member of the audit committee: USD 10,000

- Member of the compensation committee: USD 10,000

- Member of the nominating committee: USD 10,000

(c) Annual Committee Chair Service Retainer:

- Chair of the audit committee: USD 20,000

- Chair of the compensation committee: USD 20,000

- Chair of the nominating committee: USD 20,000

The payments to the Committee Chair are in lieu of the Annual Committee Member Service Retainer.

(d) Equity Compensation for directors: On initial appointment, each independent director is entitled to receive an equity grant in the form of restricted stock units equal to a value of USD 250,000 which will vest in three equal annual instalments on the first three anniversaries of the date of the grant. In addition, on the date of each annual general meeting of shareholders of the Company, each independent director may, subject to approval by the general meeting of shareholders, receive further grants in the form of stock options for a value of up to USD 230,000 which will be subject to three-year vesting and the exercise price of which will be determined on the date of the respective annual general meeting.

8. The 2023 AGM approved the amended and restated articles of association of the Company in the form published on the website of the Company at https://investors.alvotech.com/corporate-governance/annual-general-meeting-2023 under the title "Proposed Amended and Restated Articles".

Alvotech Investor Relations

Benedikt Stefansson

alvotech.ir[at]alvotech.com

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