The Ordinary General Meeting of Dufry AG was held at the Grandhotel "Les Trois Rois", Blumenrain 8, 4001 Basel, Switzerland, on May 2, 2012 at 14.00 hrs. The meeting was validly convened and constituted and shareholders duly registered in the share register of the Company representing 12,835,878 shares and 47.58% of the total share capital of Dufry AG were present at the meeting. All proposals of the Board of Directors were approved by a large majority of the shares represented at the meeting.

1.         As per the Shareholders' Resolution regarding the Board of Directors' proposal to approve the Annual Report, the Consolidated Financial Statements and the Annual Financial Statements for 2011, the Board of Directors' proposal has been accepted by 99.87% of the votes represented.

2.         As per the Shareholders' Resolution regarding the Board of Directors' proposal to carry forward CHF 52,227,000 as retained earnings, the Board of Directors' proposal has been accepted by 99.04% of the votes represented.

3.         As per the Shareholders' Resolution regarding the Board of Directors' proposal to grant discharge to the members of the Board of Directors and to the persons entrusted with management for their activities in the fiscal year 2011, the Board of Directors' proposal has been accepted by 98.47% of the votes represented.

4.         As per the Shareholders' Resolution regarding the Board of Directors' proposal to elect Ernst & Young Ltd as the Auditors for the fiscal year 2012, the Board of Directors' proposal has been accepted by 97.07% of the votes represented.

5.         As per the Shareholders' Resolution regarding the Board of Directors' proposal to increase the maximum amount of the existing conditional share capital to CHF 13'488'100, the Board of Directors' proposal has been accepted by 75.29% of the votes represented.

6.         As per the Shareholders' Resolution regarding the Board of Directors' proposal to create authorized share capital in an amount not to exceed CHF 26'976'205, the Board of Directors' proposal has been accepted by 72.82% of the votes represented.