Shareholders Approve all Resolutions on the Agenda of Ternium’s Annual General Meeting

Rhea-AI Summary

Ternium S.A. (NYSE:TX) held its annual general meeting on May 3, 2022, where all resolutions were approved. Key outcomes include the approval of consolidated financial statements for 2021 and a proposed annual dividend of $0.26 per share, with a net dividend of $0.18 per share payable on May 11, 2022. The board expanded to nine directors, re-elected eight members, and appointed a new member, Lorenza Martinez Trigueros. PricewaterhouseCoopers was re-appointed as independent auditors. The company remains the leading flat steel producer in Latin America.

Positive

• Approved annual dividend of $0.26 per share.
• New board member appointed, showing commitment to governance.
• Re-appointment of PricewaterhouseCoopers enhances audit credibility.

Negative

• None.

LUXEMBOURG / ACCESSWIRE / May 3, 2022 / Ternium S.A. (NYSE:TX) announced that its annual general meeting of shareholders held on May 3, 2022, approved all resolutions on its agenda.

Among other resolutions adopted, the shareholders approved the consolidated financial statements and unconsolidated annual accounts for the year ended December 31, 2021, and the proposed annual dividend of $0.26 per share ($2.60 per ADS). The annual dividend include the interim dividend of $0.08 per share ($0.80 per ADS) paid in November 2021. A net dividend of $0.18 per share ($1.80 per ADS) will be paid on May 11, 2022, to all shareholders of record as of May 6, 2022.

The annual general meeting resolved to increase the number of directors to nine, approved the re-election of the eight current members of the board of directors, Mr. Roberto Bonatti, Mr. Carlos Alberto Condorelli, Mr. Vincent Robert Gilles Decalf, Ms. Gioia Ghezzi, Mr. Adrian Lajous Vargas, Mr. Daniel Agustín Novegil, Mr. Gianfelice Mario Rocca and Mr. Paolo Rocca, and appointed Ms. Lorenza Martinez Trigueros as new board member. All board members will hold office until the meeting that will be convened to decide on the 2022 accounts. The meeting also re-appointed PricewaterhouseCoopers, Societé coopérative, Cabinet de révision agréé, as Ternium's independent auditors for the fiscal year ending December 31, 2022.

The board of directors subsequently re-appointed Mr. Paolo Rocca as its chairman, Mr. Daniel Agustín Novegil as vice-chairman and Mr. Máximo Vedoya as Ternium's chief executive officer. The board of directors also confirmed and re-appointed Mr. Vincent Robert Gilles Decalf, Mr. Adrián Lajous Vargas and Ms. Gioia Ghezzi as members of Ternium's audit committee, with Mr. Decalf to continue to chair the committee. All three members of the audit committee qualify as independent directors under the Company's articles of association.

For a summary of the resolutions adopted at the meetings, please see the report on Form 6-K submitted to the U.S. Securities and Exchange Commission, available at www.sec.gov.

Forward Looking Statements

Some of the statements contained in this press release are "forward-looking statements". Forward-looking statements are based on management's current views and assumptions and involve known and unknown risks that could cause actual results, performance or events to differ materially from those expressed or implied by those statements. These risks include but are not limited to risks arising from uncertainties as to gross domestic product, related market demand, global production capacity, tariffs, cyclicality in the industries that purchase steel products and other factors beyond Ternium's control.

About Ternium

Ternium is Latin America's leading flat steel producer, with operating facilities in Mexico, Brazil, Argentina, Colombia, the southern United States and Central America. The company offers a broad range of high value-added steel products for customers active in the automotive, home appliances, HVAC, construction, capital goods, container, food and energy industries through its manufacturing facilities, service center and distribution networks, and advanced customer integration systems. More information about Ternium is available at www.ternium.com.

Contact:
Sebastián Martí
Ternium - Investor Relations
+1 (866) 890 0443
+54 (11) 4018 8389
www.ternium.com

SOURCE: Ternium S.A.

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FAQ

What did Ternium S.A. approve at its annual meeting on May 3, 2022?

Ternium S.A. approved all resolutions, including financial statements and a $0.26 annual dividend.

When will Ternium S.A.'s dividend be paid?

The net dividend of $0.18 per share will be paid on May 11, 2022.

Who is the new board member appointed at Ternium S.A.?

Lorenza Martinez Trigueros was appointed as the new board member.

What is the significance of the board changes at Ternium S.A.?

The board expanded to nine members and re-elected experienced directors, enhancing governance.

Which auditing firm was re-appointed by Ternium S.A.?

PricewaterhouseCoopers was re-appointed as the independent auditors for 2022.