Remuneration of the Board of Directors

The remuneration of the Board members is decided annually by the Annual General Meeting. Outokumpu’s Board members are compensated for their time, commitment, knowledge, and required experience for contributing to the long-term financial performance and success of the company. Observing general market trends and in accordance with the proposal by the Nomination Board, the Annual General Meeting 2024 decided to increase the annual remuneration of the Board of Directors as presented in the table below. The meeting fees remained unchanged.

^*) 1,200/1,600 euros per meeting for a meeting held outside a country of residence. 

40% of the annual remuneration will be paid in the company’s own shares using treasury shares or shares to be purchased from the market at a price formed in public trading and in accordance with the applicable insider regulations.

If a Board member, on the date of the Annual General Meeting, owns shares of the company that, based on the closing price of that day, represent a value exceeding the annual remuneration, he or she can opt to receive the remuneration fully in cash.

The meeting fees are paid in cash. The members of the Board are not entitled to any other share-based rewards. The Board members are not eligible for any pension schemes.    

¹⁾ Meeting fees have been entered in the table on the year when they have been paid and include committee meeting fees.
²⁾ Meeting fees include 10,500 € meeting fees of the ESG (Environment, Social and Governance) Advisory Council.

¹⁾ Meeting fees are entered in the table on the year when they are paid and include committee meeting fees.
²⁾ Meeting fees include 7,000 € meeting fees for the ESG (environmental, social and governance) Board.