Remuneration 2022

Remuneration 2022

The Annual General Meeting of Fondia Plc decided on 24 March 2022 on the remuneration of the members of the Board of Directors as follows:

EUR 3,000 per month for the Chairman of the Board, EUR 2,500 per month for the Vice-Chairman of the Board, and EUR 2,000 per month for each of the other members of the Board. Travel expenses will be reimbursed at the maximum amount of the current travel allowance base set by the Tax Administration.

Remuneration of the CEO from 1.5.2022

• The CEO's fixed salary is EUR 19,000 per month gross.

• In addition, the CEO will receive the usual fringe benefits (e.g. telephone and meal allowance).

• The maximum bonus will be the amount of four months' fixed salary, the Board of Directors will decide on the bonus targets separately each year.

• The CEO participates in the company's long-term share plan, under which the maximum number of shares the CEO can receive for the first vesting period 2022-2024 is 10,133 shares. The bonus shares for the first vesting period of the share plan will be settled in accordance with the terms of the plan after the end of the vesting period until the end of May 2025. The CEO must own at least one quarter of the shares he receives under the share plan until the total value of his shareholding in the company equals half of his annual salary for the previous year. This number of shares in Fondia Plc must be held for as long as his membership of the group management team continues.

• The CEO has no specific agreements on retirement age or other pension arrangements.

• The notice period for the termination of the CEO's contract is six months and the severance payment corresponds to six months' fixed salary.

The remuneration of the CEO and the group management team is in line with the principles of the remuneration policy.

Harri Savolainen, CEO

Harri Savolainen, MBA, was the CEO of Fondia for the financial year 2022. The remuneration of the CEO in the financial year 2022 consisted of a base salary and fringe benefits as well as bonus payments related to the achievement of business objectives.

In January 2022, the CEO was also paid a signing bonus of EUR 17,500 based on his interim CEO role, which was fully recognised in the financial year 2021. In spring 2022, the CEO was also paid a share bonus based on the 2019-2020 savings period of the Employee Share Savings Plan (ESSP), part of which was paid in shares and part in cash to cover taxes.

The CEO has access to the usual personnel benefits such as sports and cultural benefits and occupational health care.

The compensation of the other members of the group management team consists of a basic salary, fringe benefits and a bonus linked to the achievement of business objectives, paid on a calendar year basis. The bonus for the members of the group management team is limited to 25% of the annual salary. The group management team is part of Fondia Plc's general bonus scheme, the amount and objectives of which are decided annually. The targets are determined by a combination of company and personal objectives. The members of the group management team do not have personal remuneration schemes based on shares or options or other special rights entitling them to shares. The members of the group management team are entitled to participate in the share savings plan for employees of the Fondia Group in accordance with its terms.

The notice period for members of the group management team is between two and six months. The members of the group management team have no agreement on supplementary pensions.