The Board of Directors of NOTE proposes dividend and cancellation of own shares

The Board of Directors of NOTE AB (publ) (”NOTE”) has today decided to propose to the Annual General Meeting on 24 April 2025 a dividend of SEK 7.00 per share, corresponding to a total of approximately SEK 199.4 million. In addition to the dividend, NOTE's Board of Directors proposes that the AGM resolves to cancel the 500,000 shares that the company has repurchased and holds in treasury. All proposals will be presented to the AGM to be held on 24 April 2025.

The Board of Directors has a previously adopted dividend policy which states that the Board of Directors shall annually assess the level of dividends that it considers optimal for the year. Dividends may be distributed to shareholders in the form of dividends and/or share buybacks. Future dividends will primarily be adapted to NOTE's investment needs and financial position. In connection with the year-end report for 2024, the Board of Directors announced that it intended to return to the issue of dividends no later than in connection with the notice of the AGM for 2025.

Through high profitability and positive rationalisation of tied-up working capital, the company delivered strong cash flows in the 2024 financial year. Operating cash flow, adjusted for items affecting comparability such as acquisitions, was SEK 539 million for the full year. NOTE's financial position remained very good, with an equity/assets ratio of SEK 511,000,000 as of 31 December 2024, and net debt of SEK 87 million (adjusted for leased properties under IFRS 16). Available liquid funds totalled SEK 623 million.

In light of the above, the Board of Directors of NOTE has decided to propose to the AGM a dividend of SEK 7.00 per share, corresponding to a total of approximately SEK 199.4 million.

The Board of Directors of NOTE has also decided to propose that the AGM resolves to cancel the 500,000 shares that the company has repurchased and holds in treasury.

Notice of the AGM and other proposals for the AGM on 24 April 2025 will be published on NOTE's website.

The record date for participation in the meeting will be 14 April 2025, the last day for registration of voting rights on 16 April 2025 and the first day of trading without the right to dividend on 25 April 2025. The record date for the right to receive dividends is proposed to be 28 April 2025. Provided that the Meeting resolves in accordance with the Board of Directors' proposal, the dividend is expected to be paid on 2 May 2025 through Euroclear Sweden AB.

About NOTE
NOTE manufactures printed circuit boards (PCBA), sub-assemblies and complete products (box build). NOTE is a competitive electronics manufacturer and a stable business partner to customers with high standards. Its products are found in complex systems for electronic control, monitoring and security, for example.

The business model is based on offering advanced manufacturing, customised logistics solutions and advice at the best possible total cost through long-term customer relationships and partnerships. The customer offering covers the entire product life cycle, from design to aftermarket. Customers are primarily large companies operating on the global market, but also companies with their primary sales in northern Europe.

NOTE is established in Sweden, Finland, the UK, Estonia, Bulgaria and China. Sales in the last 12 months totalled SEK 3,849 million and the group has some 1,450 employees. NOTE is listed on Nasdaq Stockholm. For more information, please visit www.note-ems.com.

The Board of Directors of NOTE proposes dividend and cancellation of own shares