EXEL COMPOSITES PLC          STOCK EXCHANGE RELEASE          11 June 2025 at 4:00 pm EEST

The Board of Directors of Exel Composites Plc has decided to initiate a new share-based long-term incentive program 2025-2027 for the leadership of the company. The objective of the program is to align the interests of the leadership with those of the company's shareholders and, thus, to promote shareholder value creation in the long term, to commit the leadership to achieving the strategic targets of the company and to retain the company's key individuals.

The performance targets applied to the plan commencing in 2025 are total shareholder return (TSR) of  Exel Composites' share and progress of reducing greenhouse gas emissions. Potential share rewards will be paid annually, provided that the performance targets are achieved and the continuous employment condition is met, and with lock-in applied until spring 2028. The potential reward will be paid partly in listed Exel Composites shares and partly in cash. The cash proportion of the reward is intended to cover taxes and statutory social security contributions arising from the reward to the participant.

The Board of Directors will invite the company's leadership as eligible to participate in the 2025 plan. The Board of Directors may nominate additional participants to this plan within the maximum limits of the plan set out below. If the performance targets set for the 2025 plan are fully achieved, the aggregate value of the 2025 plan, estimated based on the volume-weighted average share price on the trading day preceding this release, is approximately EUR 0.8 million including also the proportion to be paid in cash, which corresponds to approximately 2,100,000 shares.

The Board of Directors further harmonizes the terms of the LTI 2024-2026 program with those of the 2025-2027 program, including an annual payout and lock-in structure. The performance targets and the performance period of the 2024-2026 program remain unchanged.

For further information, please contact:

Mikko Rummukainen, CFO
tel. +358 20 754 1335
mikko.rummukainen@exelcomposites.com

Exel Composites in brief

Exel Composites is one of the largest manufacturers of composite profiles and tubes made with pultrusion and pullwinding technologies and a pultrusion technology forerunner in the global composite market. Our forward-thinking composite solutions made with continuous manufacturing technologies serve customers in a wide range of industries around the world. You can find our products used in applications in diverse industrial sectors such as wind power, transportation and building and infrastructure.

Our R&D expertise, collaborative approach and global footprint set us apart from our competition. Our composite solutions help customers save resources, reduce products' weight, improve performance and energy efficiency, and decrease total lifetime costs. We want to be the first choice for sustainable composite solutions globally.

Headquartered in Finland, Exel Composites employs over 600 forward-thinking professionals around the world and is listed on Nasdaq Helsinki. To find out more about our offering and company please visit www.exelcomposites.com.