Olvi Plc Stock exchange release 19 December 2023 at 3:00 p.m.

Other information disclosed according to the rules of the Exchange

The Board of Directors of Olvi plc Resolved on Two New Long-term Incentive Plans for Key Employees of the Group

The Board of Directors of Olvi plc has resolved to establish two new long-term incentive plans for the key employees of the group. The purpose of the plans is to align the interests of the company's shareholders and key employees to increase the company's value in the long-term, to retain the key employees at the company and to offer them competitive incentive plans based on earning and accumulating the company's shares.

Performance Share Plan 2024-2028

The Performance Share Plan 2024-2028 consists of three performance periods, covering the financial years 2024-2026, 2025-2027 and 2026-2028 respectively. The Board of Directors will resolve annually on the commencement and details of a performance period.

In the plan, the target group has an opportunity to earn series A shares of Olvi plc based on performance. Olvi lc emphasizes company's ESG goals in the plan's earning criteria, such as the goal of carbon neutrality and increasing the share of sales of non-alcoholic products. The performance criteria in the first performance period 2024-2026 are cumulative EBIT, net sales of non-alcoholic products and the carbon neutrality of production of the Baltic Sea region and Finland business segments.

The target group in the performance period 2024-2026 consists of approximately 37 key employees, including the members of the Group Management Team and the CEO. The value of the rewards to be paid on the basis of the plan corresponds to an approximate maximum total of 43,150 series A shares of Olvi plc added with the corresponding cash proportion for covering taxes and statutory social security contributions arising from the reward to the key employee. The potential rewards from the plan will be paid after the end of each performance period, within five months at the latest.

The rewards to be paid on the basis of the plan will be capped if the limits set by the Board for the payable reward from the performance period 2024-2026 are reached.

Restricted Share Plan 2024-2028

Restricted Share Plan 2024-2028 is intended to be used in situations considered necessary by the Board, for example ensuring retention of key talents at the company and attracting new talent. The rewards are based on continuous employment, and as a rule, no reward will be paid if the key employee's employment or director contract terminates before the end of the plan period.

Rewards from the plan will be paid by the end of May 2025, 2026, 2027, 2028, 2029, 2030, 2031 and 2032, but in any event minimum twelve (12) months after granting the reward. The value of the rewards to be paid on the basis of the plan corresponds to an approximate maximum total of 6,000 series A shares of Olvi Plc added with the corresponding cash proportion for covering taxes and statutory social security contributions arising from the reward to the key employee.

General

The potential rewards will be paid partly in Olvi plc series A-shares and partly in cash. As a rule, no reward will be paid if the key employee's employment or service terminates before the reward payment.

The Group Management Team member, including CEO, must hold 50 per cent of the received shares, until the value of the Group Management Team member's total shareholding in the company equals to 50 per cent of their annual base salary for the calendar year preceding the payment of the reward. Such number of Olvi plc shares must be held as long as the membership in the Group Management Team continues.

Olvi plc

Board of Directors

Further information:

Nora Hortling

Chair of the Board

Tel. +358 50 3754 626

Distribution:

Nasdaq Helsinki Ltd

Main Media

www.olvigroup.fi/en/