Remuneration

Board of Directors

The Annual General Meeting makes the final decision on the remuneration of the Board of Directors annually. Kempower’s Remuneration and Nomination Committee prepares the remuneration policy and any material changes to it, and the Board of Directors approves it for presentation to the Annual General Meeting. The remuneration policy will be presented at the company’s Annual General Meeting, for the first time in 2022. Kempower’s remuneration policy is presented at the company’s Annual General Meeting at least every four years and whenever significant changes are proposed.

Kempower’s Remuneration and Nomination Committee prepares proposals for the remuneration of all members of the Board of Directors, and the Annual General Meeting makes the final decision on the remuneration of the Board of Directors annually.

The remuneration report will be presented annually at the company’s Annual General Meeting, starting in 2022.

CEO and the management team

The Board of Directors determines the remuneration paid and the basic principles of remuneration for the CEO and the other members of the management team. The remuneration paid to the CEO and the other members of the management team consists of a monthly salary and bonus. In addition, the entire Kempower personnel has a performance pay incentive programme (short term incentive) that includes company level targets combined with individual targets. Kempower is also considering an option programme for Kempower’s management team and key employees, which would be launched after the First North Listing.

Further information regarding the remuneration of the Board of Directors, the CEO and the other members of the management team:

The remuneration report

• Kempower remuneration report 2021

The remuneration policy

• Kempower remuneration policy

The remuneration of other members of the Management Team

• The remuneration of other members of the Management Team in 2021