Merus Power Plc establishes a new share-based incentive plan for key employees

Merus Power Plc, Company announcement, March 28, 2025 at 9:00 a.m. EET

The Board of Directors of Merus Power Plc has resolved to establish a new share-based incentive plan for key employees of the group. The purpose of the plan is to align the interests of the company’s shareholders and key employees to increase the company’s value in the long-term, to commit key employees to implement the company's strategy, objectives and long-term interest and to offer them a competitive incentive plan based on earning and accumulating the company’s shares.

The Performance Share Plan 2025–2029 consists of three performance periods, covering the financial years 2025–2027, 2026–2028 and 2027–2029 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 Merus Power Plc’s shares based on performance. The potential rewards from the plan will be paid after the end of each performance period. The potential reward will be paid partly in Merus Power Plc’s 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 key employee. As a rule, no reward will be paid if the key employee’s employment or director contract terminates before the reward payment.

The Management Team member must hold 50 per cent of the received shares, until the value of the Management Team member’s total shareholding in Merus Power Plc equals to 50 per cent of their annual base salary for the calendar year preceding the payment of the reward. Respectively, the CEO must hold 50 per cent of the received shares, until the value of the CEO’s total shareholding in Merus Power Plc equals to 100 per cent of the CEO’s annual base salary for the preceding calendar year. Such number of Merus Power Plc’s shares must be held as long as the membership in the Management Team or the position as the CEO continues.

The performance criteria of the first performance period are tied to the company’s Total Shareholder Return, EBITDA margin during financial year 2027 and revenue during financial years 2025–2027. The value of the rewards to be paid on the basis of the first performance period corresponds to a maximum total of 222,000 shares of Merus Power Plc, including also the proportion to be paid in cash. The maximum gross amount of rewards based on the first earning period is a total of EUR 1.25 million, calculated at the closing price on March 13, 2025. The target group of the performance period 2025—2027 consists of approximately 15  key employees, including the members of the Management Team and the CEO.

For more information:
Tapani Kiiski, hallituksen puheenjohtaja, [email protected], +358 20 735 4320
Aktia Alexander Corporate Finance Oy, Certified Adviser, +358 50 520 4098

Distribution:
Nasdaq Helsinki Ltd.
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Merus Power in brief:
Merus Power is a technology company that enables a sustainable and energy-efficient future. We design and manufacture innovative electrical engineering solutions, such as energy storages, power quality solutions and services for renewable energy and industrial needs. With our scalable technology, we enable the growth of renewable energy in electric grids and improve the energy efficiency of society. We are a domestic innovative electrical engineering specialist and operate in global and fast-growing markets. Our personnel represent internationally respected engineering expertise. Our turnover in 2024 was EUR 35.8 million and our stock trading symbol on the Nasdaq First North Growth Market Finland is MERUS. www.meruspower.com.

The original of this document has been made in Finnish. In case of any discrepancy, the Finnish version will prevail.