Valoe Corporation’s Remuneration Policy Has Been Disclosed

Valoe Corporation        Stock Exchange Release        29 April 2021 at 21.45 Finnish time

Valoe Corporation's Remuneration Policy has been disclosed and is attached to this Release. It is also available in Finnish and in English on the company’s website at www.valoe.com.

In Mikkeli 29 April 2021

Valoe Corporation Board of Directors

For more information:
Iikka Savisalo, President and CEO, Valoe Corporation Tel. [phone], email: [e-mail]

Distribution:
NASDAQ OMX, Helsinki Main media www.valoe.com

Valoe Corporation specializes in the clean energy, especially in photovoltaic solutions. Valoe provides automated production technology for solar modules based on the company’s own technology; production lines for modules; solar modules and special components for solar modules. Valoe's head office is located in Mikkeli, Finland.

APPENDIX

REMUNERATION POLICY OF VALOE CORPORATION        

INTRODUCTION

Valoe’s remuneration policy presents the principles and decision-making process for remuneration of the Board of Directors and Managing Director and the key terms of the managing director’s service contract. 

The company’s remuneration principles are applied to the company's entire personnel. Remuneration transparency, market orientation, and rewarding for good performance are the key principles in remuneration.

The company’s remuneration principles are applied to the Board of Directors and managing director. The objective of the company’s remuneration policy is to encourage and reward management for operating in accordance with the company's current strategy and compliance with the set rules. The policy is also aiming at motivating them to strive for Valoe's success.

Functioning and competitive remuneration is an essential tool in recruiting capable management for the company, which contributes to the company’s financial success and the implementation of good governance. Remuneration supports the realization of the company’s goals and strategy, as well as long-term profitability.

Remuneration by the company’s remuneration policy consists of the following components: basic salary and benefits comply with local market practices, laws, and regulations. The purpose of the short-term incentive scheme is to guide an employee’s and the organization’s performance and support the rapid implementation of strategic projects. The long-term incentive plan is intended to retain key personnel in the company. Long-term incentives are designed to engage management and align the management’s and the company’s shareholders’ interests.