Corporate News

NFON AG shareholders support growth strategy

- NFON successfully concludes Annual General Meeting 2020

- Growth trend continues

- Purely virtual Annual General Meeting demonstrates the possibilities of digital

communication

Munich, May 29, 2020 - NFON AG (together with its subsidiaries "NFON" or the "Company"), the only pan-European cloud PBX provider (telephone system from the cloud), successfully held its Annual General Meeting 2020 on May 28, 2020. Based on the law to mitigate the consequences of the COVID-19 pandemic, the AGM was held as a purely virtual event. The total number of votes represented at the Annual General Meeting, including the share of votes present and postal votes, was 72.65% of the share capital. All items on the agenda were passed by a large majority.

The Management Board took the opportunity to report to the shareholders in detail about the development and current situation of NFON AG. The changes already observed in the market for cloud communication were also discussed. The management expects the experience gained so far in 2020 with remote work and working out of home offices to support the development of the market of cloud communications. NFON was able to feel this effect with a particularly strong development in March 2020.

Hans Szymanski, CEO and CFO of NFON AG: "The corona crisis shows us how important digitalization is for the sustainability of companies. 2019 was a good year for us, with very good growth in a positive environment. Despite a more difficult environment in 2020, we continue to grow as planned. Current, often outdated technologies and ways of thinking will be significantly challenged by the pandemic. It is all about the sensible and wise use of innovative products and services. NFON provides the solutions and puts them into practice on short notice."

The virtual general meeting enabled the shareholders of NFON AG to exercise their voting rights and ask questions to the management despite the necessary precautionary measures. The entire Annual General Meeting was broadcast in video and audio and the exercising of voting rights was made possible via proxies or other authorized representatives, as well as via postal or electronic mail voting. Thanks to the use of the digital shareholder portal, the health of all those involved was protected and, incidentally, travel time and pollution emissions were avoided.

Szymanski adds: "With yesterday's Annual General Meeting, we have taken one step further into the digital age. The Annual General Meeting as a digital event not only fits in with NFON, but also shows what possibilities are available - provided the legal framework is created. We should all use and expand these possibilities more intensively in the long term, even if a crisis does not force us to do so. The result of the Annual General Meeting shows that the shareholders support the growth strategy we have embarked on by a clear majority."

Investor Relations Contact

NFON AG
Sabina Prüser
Head of Investor Relations
+49 89 45300 134
[email protected]

Media Contact

NFON AG
Thorsten Wehner
Vice President Public Relations
+49 89 45300 121
[email protected]

About NFON AG

Headquartered in Munich, NFON AG is the only pan-European cloud PBX provider - counting more than 40,000 companies across 15 European countries as its customers. With Cloudya, NFON offers an easy-to-use, independent and reliable solution for advanced cloud business communications. Further premium and industry solutions complete the portfolio in the field of cloud communications. With our intuitive communications solutions, we enable European companies to improve their work a little, every single day. NFON is the new freedom in business communication. https://corporate.nfon.com/en/

Disclaimer

This announcement is not an offer of securities for sale in the United States of America. The securities of the Company have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold in the United States of America absent registration or an exemption from registration under the U.S. Securities Act. No public offering of securities of the Company is being made in the United States of America and the information contained herein does not constitute an offering of securities for sale in the United States of America, Canada, Australia, Japan or any other jurisdiction in which such offering would be unlawful. This announcement is not for release, publication or distribution directly or indirectly in or into the United States of America, Australia, Canada, Japan or any other jurisdiction in which the distribution or release would be unlawful or to U.S. persons.