The Board of Directors of Elisa Corporation resolved on incentive plan for key employees

The Board of Directors of Elisa Corporation has on 4 March 2021 approved a share-based incentive plan for the Group key employees. The aim of the plan is to align the objectives of the shareholders and the key employees in order to increase the value of the Company in the long-term, to retain the key employees at the Company, and to offer them a competitive reward plan that is based on earning and accumulating the Company's shares. The Performance Share Plan is directed to approximately 200 people, including the members of the Corporate Executive Board. The Performance Share Plan includes three three-year performance periods, calendar years 2021-2023, 2022-2024 and 2023-2025.

The Board of Directors of the Company has now resolved on the Plan's performance criteria and required performance levels for each criterion for the performance period 2022-2024. The potential reward of the Plan from the performance period 2022-2024 will be based on the Group's Earnings per Share (EPS, weight 60%), on the International Digital services growth (weight 20%), on Employee Engagement (weight 10%) and annual progress in specific key business growth targets (weight 10%).

The rewards to be paid on the basis of the performance period 2022-2024 correspond to the value of a maximum total of 360.500 Elisa Corporation shares (including also the proportion to be paid in cash). The potential reward on the basis the performance period 2022-2024 will be paid partly in the Company's shares and partly in cash in 2025. The cash proportion is intended to cover taxes and tax-related costs arising from the reward to the participant. As a rule, no reward will be paid, if a participant's employment or service ends before the reward payment.

The CEO of the Company and a member of the Corporate Executive Board must hold a minimum of 50 per cent of the net shares given on the basis of the plan, until the CEO's shareholding in the Company in total corresponds to the value of his annual salary and, respectively, the member's shareholding in the Company in total corresponds to the value of half of his or her annual salary.

ELISA CORPORATION

Vesa Sahivirta IR Director tel. [phone]

Distribution: Nasdaq Helsinki Principal media elisa.com

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