NOMINATES VINCENT VALLEJO FOR RE-APPOINTMENT AS EXECUTIVE DIRECTOR, ERIC SPRUNK AND MANDY GINSBERG FOR APPOINTMENT AS NON-EXECUTIVE DIRECTORS, AND BILL ACKMAN, CATHIA LAWSON-HALL, CYRILLE BOLLORÉ, JAMES MITCHELL, MANNING DOHERTY, MARGARET FREREJEAN-TAITTINGER AND NICOLE AVANT FOR RE-APPOINTMENT AS NON-EXECUTIVE DIRECTORS

Hilversum, The Netherlands, March 28, 2024 — Universal Music Group N.V. (“UMG” or “the Company”) today published its 2023 annual report and the agenda for its 2024 annual general meeting of shareholders (“2024 AGM”), which is to be held on May 16, 2024, starting at 2:00 p.m. CEST, in Amsterdam, the Netherlands.

The agenda for the 2024 AGM and other meeting materials, including the 2023 annual report, are available at: https://investors.universalmusic.com. The 2023 annual report will also be filed with the Dutch Authority for the Financial Markets (the AFM) in European Single Electronic Format (ESEF).

On the agenda for the 2024 AGM is the proposed re-appointment of Vincent Vallejo as Executive Director for a one-year term, the proposed appointments of Eric Sprunk and Mandy Ginsberg as new Non-Executive Directors for a two-year term as well as the proposed re-appointments of Bill Ackman, Cathia Lawson-Hall, Cyrille Bolloré, James Mitchell, Manning Doherty, Margaret Frerejean-Taittinger and Nicole Avant as Non-Executive Directors for a two-year term.

At the recommendation of the Nomination Committee, the Board has made a non-binding nomination for the appointment of the following new Non-Executive Directors:

Appointment of Eric Sprunk

Independent Non-Executive Director

Eric Sprunk, 60, is an American citizen and global consumer-retail industry leader with more than 25 years’ experience delivering outstanding financial results, creating shareholder value and building loyal, high-performance teams. He most recently served as the Chief Operating Officer of Nike from 2013 to 2020, where he led a globally distributed team of 25,000+ Nike employees and an additional 1,200,000 contract employees responsible for its robust and innovative global supply chain, demand/supply planning, procurement, corporate real estate and workplaces and IT/technology for the global enterprise. During his 27 years at Nike, Mr. Sprunk held various executive positions of increasing responsibility, including EVP, Global Product & Merchandising from 2008 to 2013 and EVP & GM, Global Footwear from 2001 to 2008. As COO, he drove the digital transformation of the company to be consumer direct and oversaw its robust and innovative global supply chain. He currently serves as a member of the Board of Directors of General Mills, Bombardier and Nordstrom.

Mr. Sprunk has a Bachelor’s degree in Business Administration and Accounting from the University of Montana.

Appointment of Mandy Ginsberg

Independent Non-Executive Director

Mandy Ginsberg, 54, is an American citizen and an operating partner at Advent International, one of the largest global private equity investment firms. An accomplished leader with extensive online consumer acumen, Ms. Ginsberg served as CEO of Match Group from 2016 to 2020, where she led a portfolio of industry leading digital dating platforms including Tinder, Match.com, OkCupid, and Hinge, totaling over 45 global dating companies. During her tenure, she led the company’s expansion in North America and overseas, both through organic growth and acquisitions, including the 2018 purchase of relationship-focused platform Hinge. Post the company’s IPO in 2015, she oversaw a period of tremendous subscriber and revenue growth that saw the company’s revenues grow from USD 800 million to USD 1.7 billion and share price from USD 11 to nearly USD 70. Ms. Ginsberg has held roles within the IAC portfolio of digital companies since 2006. This includes tenures as  an EdTech CEO of both The Princeton Review and Tutor.com from 2013-2015.   She currently serves on the Board of Directors at Uber Technologies and ThredUp, and previously served as a director at Match Group, J.C. Penney Company and Care.com.

Ms. Ginsberg holds an MBA from The Wharton School of the University of Pennsylvania and a BA in English and Spanish Literature from the University of California, Berkeley.

Other voting items on the agenda for the 2024 AGM are the advisory vote on the 2023 remuneration report, the adoption of the 2023 financial statements, the adoption of the dividend proposal, the discharge of the Executive and Non-Executive Directors, the adoption of a revised Non-Executive Directors’ Remuneration Policy, the authorization to issue shares and grant rights to subscribe for shares to Non-Executive Directors under the revised Non-Executive Directors’ Remuneration Policy, the authorization of the Board as the competent body to repurchase own shares and the cancellation of shares (to be determined by the Board).

The 2023 financial statements, 2023 remuneration report and Environment Social Governance (ESG) report are included in the 2023 annual report.

About Universal Music Group

At Universal Music Group (EURONEXT: UMG), we exist to shape culture through the power of artistry. UMG is the world leader in music-based entertainment, with a broad array of businesses engaged in recorded music, music publishing, merchandising and audiovisual content. Featuring the most comprehensive catalogue of recordings and songs across every musical genre, UMG identifies and develops artists and produces and distributes the most critically acclaimed and commercially successful music in the world. Committed to artistry, innovation and entrepreneurship, UMG fosters the development of services, platforms and business models in order to broaden artistic and commercial opportunities for our artists and create new experiences for fans. For more information on Universal Music Group N.V. visit www.universalmusic.com.

Contacts

Media

James Murtagh-Hopkins – communicationsnl@umusic.com

Investors

Erika Begun – investorrelations@umusic.com

Upcoming Calendar

Q1 2024 results: May 2, 2024

2024 AGM: May 16, 2024

Forward-looking statements

This press release may contain statements that constitute forward-looking statements with respect to UMG’s financial condition, results of operations, business, strategy and plans. Such forward-looking statements may be identified by the use of words such as ‘profit forecast’, ‘expect’, ‘estimate’, ‘project’, ‘anticipate’, ‘should’, ‘intend’, ‘plan’, ‘probability’, ‘risk’, ‘target’, ‘goal’, ‘objective’, ‘will’, ‘endeavour’, ‘optimistic’, ‘prospects’, ‘outlook’ and similar expressions or variations on such expressions. Although UMG believes that such forward-looking statements are based on reasonable assumptions, they are not guarantees of future performance. Actual results may differ materially from such forward-looking statements as a result of a number of risks and uncertainties, many of which are related to factors that are outside UMG’s control, including, but not limited to, UMG’s inability to compete successfully and to identify, attract, sign and retain successful recording artists and songwriters, failure of streaming and subscription adoption or revenue to grow or to grow less rapidly than anticipated, UMG’s reliance on digital service providers, UMG’s inability to execute its business strategy, the global nature of UMG’s operations, UMG’s inability to protect its intellectual property and against piracy, UMG’s inability to attract and retain key personnel, changes in laws and regulations and the other risks that have been described in the 2023 annual report. Accordingly, UMG cautions readers against placing undue reliance on such forward-looking statements. Such forward-looking statements are made as of the date of this press release. UMG disclaims any intention or obligation to provide, update or revise any such forward-looking statements, whether as a result of new information, future events or otherwise.

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