Modulight Corporation, Company release, 4 April 2022 at 5.00 p.m. Finnish time

The Shareholders' Nomination Board of Modulight has submitted its proposal on composition and remuneration of the Board of Directors to the Annual General Meeting 2022 to be held on May 2, 2022.

Number of members of the Board of Directors and its composition
The Shareholders' Nomination Board proposes to the Annual General Meeting 2022 that the number of members of the Board of Directors shall be six (6).

The Shareholders' Nomination Board proposes, for a term that ends at the end of the Annual General Meeting 2023, that Jyrki Liljeroos, Seppo Orsila, Petteri Uusimaa, Kalle Palomäki, Pia Kantola and Timur Kärki be re-elected as Board Members.

The Shareholders' Nomination Board recommends that Jyrki Liljeroos be re-elected as the Chairman of the Board. All candidates have given their consent to the position and the Shareholders' Nomination Board has assessed that Jyrki Liljeroos, Pia Kantola and Timur Kärki are independent of the company and that Jyrki Liljeroos, Kalle Palomäki, Pia Kantola and Timur Kärki are independent of major shareholders. The biographical details of the Board Members proposed for re-election can be found at the company website: https://www.modulight.com/board-of-directors/

Remuneration of the Board of Directors
The Shareholders' Nomination Board proposes to the Annual General Meeting 2022 that the remuneration to be paid to the members of the Board of Directors be unchanged. The following remuneration is proposed to be paid to the members of the Board of Directors during the next term:

- Monthly remuneration of the Chairman EUR 5,000, and
- Monthly remuneration of the Members EUR 2,500.
 
Furthermore, the Shareholders’ Nomination Board proposes that the remuneration to be paid to the members of the Board of Directors may be paid in company shares and in cash.

The travel expenses will be compensated in accordance with the company's valid travel policy.

Composition of the Shareholders’ Nomination Board
The Shareholders’ Nomination Board that has prepared proposals for the Annual General Meeting 2022 consists of the three largest shareholders of the company Petteri Uusimaa, Seppo Orsila and Pekka Savolainen.

The proposals of the Shareholders’ Nomination Board will be included in the notice to the Annual General Meeting.

More information:
CEO: Seppo Orsila, m. +358 40 830 4671
Investor relations: Ulla Haapanen, m. +358 40 830 4676
Email: ir@modulight.com

Certified advisor: Danske Bank A/S, Finnish branch, +358 40 414 5358

www.modulight.com
Twitter: @modulight, @orsila

Modulight in brief
Modulight Corporation is a biomedical laser company that designs and manufactures products for oncology, ophthalmology and genetics. The company also provides solutions for selected high value-add applications including quantum computing and digital press. The company’s products include medical devices, subsystems, software, cloud services and specialized semiconductors. Modulight's products are used worldwide by many Fortune 500 companies, international pharmaceutical companies, and well-known cancer centers and universities. Modulight was founded in 2000 and is headquartered in Tampere, Finland.