United Bankers Plc

STOCK EXCHANGE RELEASE 24 January 2023 at 18:00 EET

United Bankers Plc's Board of Directors decided on a new performance period for the management's share-based incentive program

The Board of Directors of United Bankers Plc has decided to initiate a new performance period within the share-based incentive program for the management of the Company. The new performance period consists of a three-year earning period for the years 2023-2025. The new period supplements the currently ongoing programs for the three-year periods 2021-2023 and 2022-2024, as resolved on by the Board of Directors and announced on 27 January 2021 and 26 January 2022. The purpose of the share-based incentive program is to promote the Group's business strategy and commit key persons to the Company. Share ownership creates a long-term interest for management in increasing the Company's value, and provides competitive compensation.

The Board of Directors of the Company decide the earnings criteria of the programs as well as the targets to be set for management at the beginning of each earning period. A three-year potential reward is based on the achievement of the pre-set financial targets of the Group, sustainability targets and the individual target level goals set for each key employee. The potential reward for each program or earning period shall be paid out after the end of the relevant earning period, in one or at the most four separate installments during approximately three years. The reward is paid partly in the Company's shares and partly in cash. The cash proportion is aimed to cover taxes and tax-related costs arising from the reward to the key employee. If the employment or the service relationship of the key employee terminates prior to the payment of the reward, the accrued reward shall generally not be paid out.

The key person or a controlled entity of the key person are not entitled to sell the shares received through the incentive programs during the employment or the service relationship, to the extent the value of the total share ownership in the Company of the key person and his or her controlled entity would fall below the amount corresponding to the fixed annual gross salary of the person in question.

The new performance period of the share-based incentive program applies to seven (7) key persons. Share awards based on the new earning period equal to a maximum total value of approximately 60,000 United Bankers shares. The total value of the program, estimated based on the volume weighted average share price on the trading day preceding this release, is approximately EUR 0.8 million. Approximately 25 per cent of the reward, a maximum total of 15,000 shares, payable in accordance with the plan during three years is paid in shares in the Company, and the rest in cash. This is aimed at minimizing the dilutive effect of the incentive program for the current shareholders of the Company. Shares issued to the key persons based on the incentive program may be either new shares or treasury shares held by the Company acquired from the market, or both.

The share-based incentive program is not expected to have a significant effect on the price of the Company's share. The program will enable the Company meet regulatory requirements for management remuneration. At the same time, the program binds the long-term goals of the management and the Company's other shareholders together.

UNITED BANKERS PLC

Board of Directors

Additional information:

Johan Linder, Chairman of the Board, United Bankers Plc
Email:johan.linder@unitedbankers.fi
Telephone: +358 400603830, +358 9 25380221

United Bankers in brief:

United Bankers Plc is a Finnish expert on wealth management and investment markets, established in 1986. United Bankers Group's business segments include wealth management and capital markets services. In asset management, the Group specializes in real asset investments. United Bankers Plc is majority-owned by its key personnel and the Group employs 149 employees (FTE) and 31 agents (30 June 2022). In 2021, the United Bankers Group's revenue totalled EUR 43.8 million and its adjusted operating profit amounted to EUR 14.4 million. The Group's assets under management amount to approximately EUR 4.6 billion (30 June 2022). United Bankers Plc's shares are listed on Nasdaq Helsinki Ltd. The Group companies are subject to the Finnish Financial Supervisory Authority's supervision. For further information on United Bankers Group, please visit www.unitedbankers.fi (http://www.unitedbankers.fi/en/oyj/sijoittajat).

DISTRIBUTION:

Nasdaq Helsinki

Main media

www.unitedbankers.fi (http://www.unitedbankers.fi/en/oyj/sijoittajat)