Decisions of the Annual General Meeting of Teleste Corporation

TELESTE CORPORATION   STOCK EXCHANGE RELEASE      7.4.2021 AT 19:00

DECISIONS OF THE ANNUAL GENERAL MEETING OF TELESTE CORPORATION

The Annual General Meeting of Teleste Corporation was held today 7 April 2021.  In order to prevent the spread of the COVID-19 pandemic, the annual general meeting was held without shareholders' and their proxy representatives' presence at the venue of the meeting. The shareholders of the company participated in the meeting and exercised their shareholder rights by voting in advance.

The Annual General Meeting adopted the financial statements and the consolidated financial statements. The members of the Board of Directors as well as the CEO were discharged from liability for the financial year 2020.

The Annual General Meeting resolved in accordance with the proposal of the Board of Directors that, based on the adopted balance sheet, a dividend of EUR 0.12 per share shall be paid for the financial period that ended on December 31, 2020 for shares other than those held by the Company. The record date for the payment of the dividend is 9 April 2021 and the dividend is paid on 16 April 2021.

The Annual General Meeting decided the number of members of the Board of Directors to be six. Mr. Jussi Himanen, Mr. Vesa Korpimies, Mr. Timo Luukkainen, Mr. Heikki Mäkijärvi, Mr. Kai Telanne and Ms. Mirel Leino-Haltia were elected as members of the Board of Directors.

The remuneration of the members of the Board of Directors were decided to remain unchanged and to be paid as follows:  EUR 66,000 per year for the chairman and EUR 33,000 per year for each member. The annual remuneration of the Board member who acts as the chairman of the Audit Committee is EUR 49,000 per year. Out of the annual remuneration to be paid to the Board members, 40 per cent of the total gross remuneration amount will be used to purchase Teleste Corporation’s shares for the Board members through trading on regulated market organized by Nasdaq Helsinki Ltd, and the rest will be paid in cash. Separate meeting fee shall not be paid to the members of the Board of Directors nor the Chairman of the Audit Committee. The members of the Board's Audit Committee are paid a meeting fee of EUR 400 for the meetings of the Audit Committee in which they participate.