Decisions taken by Valmet Oyj’s Annual General Meeting and Board of Directors

Valmet Oyj’s stock exchange release on June 16, 2020 at 4:00 p.m. EET

The Annual General Meeting of Valmet Oyj was held in Helsinki today on June 16, 2020. The Annual General Meeting adopted the Financial Statements for 2019 and discharged the members of the Board of Directors and the President and CEO from liability for the 2019 financial year. The Annual General Meeting approved the Board of Directors' proposals concerning authorizing the Board to decide on repurchasing the company’s own shares and to decide on the issuance of shares and the issuance of special rights entitling to shares. The Annual General Meeting also approved the remuneration policy for governing bodies.

Dividend payment

The Annual General Meeting decided to pay dividends of EUR 0.80 per share for the financial period ended on December 31, 2019. The dividend will be paid to shareholders who on the dividend record date June 18, 2020 are registered in the company's shareholders' register held by Euroclear Finland Ltd. The dividend will be paid on June 25, 2020.

Composition of the Board of Directors

The Annual General Meeting confirmed the number of Board members as seven and reappointed Mikael Mäkinen as Chairman of Valmet Oyj's Board and Aaro Cantell as Vice-Chairman. Pekka Kemppainen, Monika Maurer, Eriikka Söderström, Tarja Tyni and Rogério Ziviani will continue as members of the Board. The term of office of the members of the Board of Directors expires at the close of the Annual General Meeting 2021.

Remuneration of the Board of Directors

The Annual General Meeting decided that the annual remuneration payable to the members of the Board will be as follows: to the Chairman of the Board of Directors EUR 115,000; to the Vice-Chairman of the Board of Directors EUR 67,500; and to the other members of the Board of Directors EUR 54,000 each. Furthermore, the Annual General Meeting decided that a base fee of EUR 7,000 will be paid for each member of the Audit Committee, EUR 14,000 for the Chairman of the Audit Committee, EUR 4,000 for each member of the Remuneration and HR Committee, and EUR 6,000 for the Chairman of the Remuneration and HR Committee.