Solar Foods Oyj, company announcement, 25 April 2025 at 9.45 EET

Solar Foods Oyj’s Board of Directors decided to issue stock options under the new option plan 1/2025-H

The Board of Directors of Solar Foods Oyj has decided to distribute 20,000 stock options free of charge to the Chairperson of the Board of Directors of Solar Foods Oyj under the terms and conditions of the stock option plan 1/2025-H. The terms and conditions are attached to this release. The decision is based on the authorization given by the Annual General Meeting to the Board of Directors on 25 March 2025.

There is a weighty financial reason for the Company to issue option rights and deviate from the pre-emptive subscription right, as the option rights are intended to form part of the incentive and commitment system for key personnel.

The maximum number of stock options to be granted under the stock option plan 1/2025-H is 20,000, and they entitle to subscribe for 20,000 new or treasury shares of the company at a subscription price of EUR 7.1 per share. The subscription price has been set to incentivize the participant, considering the company's current market capitalization and expected development during the duration of the plan.

The subscription period for shares under this plan begins after at least one (1) year from the subscription date of the option rights provided that the participant has served in their position as chair of the Board of Directors of the company for the entire term of the Company’s Board of Directors as of 25 March 2025. Shares can be subscribed for twice a year, for a five-business-day (5) period starting on the following business day after disclosure of the company’s financial statements release and half-year report. In addition, the Board of Directors can decide on another annual subscription period. The subscription period ends on December 31, 2030.

The number of shares that can be subscribed for based on the stock options granted under the 1/2025-H plan is a maximum of 0.08 per cent of all the company's shares after possible subscriptions, if 20,000 new shares are issued in the subscription.

The shares must be paid for upon subscription. The subscription price will be recognized in its entirety in the company’s reserve for invested unrestricted equity.

Further information:
CFO Ilkka Saura, ilkka.saura@solarfoods.com, tel. +358 10 579 3289

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About Solar Foods
Solar Foods produces Solein®, a protein created using carbon dioxide and electricity. This innovative production method is independent of weather and climate conditions, eliminating the need for traditional agriculture. Founded in Finland in 2017, Solar Foods is listed on the Nasdaq First North Growth Market Finland. Learn more at www.solarfoods.com and investors.solarfoods.com.