Bittium Corporation
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Bittium Corporation's Board of Directors' Proposal to the 2024 Annual General Meeting Concerning the Appointment of the Auditor

Bittium Corporation, Stock Exchange Release, January 31, 2024, at 4:00 pm (CET+1)

Following the recommendation of the Audit Committee, Bittium Corporation's Board of Directors proposes to the Annual General Meeting to be held on April 10, 2024, that, based on the competitive tendering of the audit, the audit firm PricewaterhouseCoopers Oy be appointed as the Company's auditor for the financial year 2024. If PricewaterhouseCoopers Oy is selected as the auditor of the Bittium Corporation, Sami Posti, Authorised Public Accountant, will act as the principal auditor, as stated by the firm. PricewaterhouseCoopers Oy will also serve as the assurance provider for the Bittium Corporation's sustainability reporting for the financial year 2024.

Recommendation of the Audit Committee to the Board of Directors

Bittium Corporation's Audit Committee has organized a competitive tendering of the audit for the 2024 financial year and has prepared its recommendations for the election of the auditor in accordance with the EU Audit Regulation (537/2014).

In accordance with Article 16 (2) of the Audit Regulation, the Audit Committee must submit its recommendation to the Board of Directors of the Bittium Corporation regarding the appointment of the audit firm. As set out in the Audit Regulation, the Audit Committee shall identify at least two alternatives from which to select an auditor and shall make a justified recommendation for one.

The Audit Committee received three tenders in the tendering process. The Audit Committee assessed the candidates based on numerous selection criteria, including knowledge of the industry, audit quality and use of technology in the audit, the experience of the audit team and the competitiveness of the remuneration. The committee identified PricewaterhouseCoopers Oy as the best candidate to carry out the company's audit.

The Audit Committee affirms that its recommendation has not been influenced by third parties and that the committee has not been required to comply with the contractual clause referred to in Article 16(6) of the EU Audit Regulation, which would restrict the appointment of the auditor by the Annual General Meeting.

Assurance of the sustainability reporting for the 2024 financial year

In connection with the tendering of the audit, the Audit Committee has ensured that its recommended auditor, PricewaterhouseCoopers Oy, also is eligible to attain the certification to serve as the company's sustainability reporting assurance provider for the 2024 financial year as required by the Government Proposal (HE 20/2023) on the enforcement of the EU Corporate Sustainability Reporting Directive (EU 2022/2464, CSRD).

In Oulu, January 31, 2024

The Board of Directors
Bittium Corporation
 

Further information:

Kari Jokela
CLO
Tel. +358 40 344 2789 (group communications)

Distribution

Nasdaq Helsinki Oy
Main media
 

Bittium

Bittium specializes in the development of reliable, secure communications and connectivity solutions leveraging its over 35-year legacy of expertise in advanced radio communication technologies. Bittium provides innovative products and services, customized solutions based on its product platforms, and R&D services. Complementing its communications and connectivity solutions, Bittium offers proven information security solutions for mobile devices and portable computers. Bittium also provides healthcare technology products and services for biosignal measuring in the areas of cardiology and neurophysiology. Net sales in 2022 were EUR 82.5 million and operating profit was EUR 0.3 million. Bittium is listed on Nasdaq Helsinki. www.bittium.com