Transfer of Harvia's own shares as rewards under the incentive program

Harvia Plc, Stock Exchange Release, May 30, 2023 at 8:35 p.m. EEST

The Board of Directors of Harvia Plc has on 3 May 2023 decided on a directed share issue without consideration for the payment of rewards earned under the company’s share-based incentive program. The share payments concern the performance period 2020–2022 of the company’s share-based incentive program launched in 2020.

In the share issue, 9,109 own shares held by the company have today been transferred without consideration to the key employees participating in the share-based incentive program in accordance with the program-specific terms and conditions.

After the transfer of shares under the incentive program and the shares transferred at the same time as part of the board remuneration, the company holds a total of 9,637 own shares.

The decision on the transfer of shares is based on the authorization granted to the Board of Directors by the Annual General Meeting on 20 April 2023. No new shares shall be issued in connection with the program, and the program therefore has no diluting effect on shareholdings.

More detailed information on the establishment of the incentive program and its terms and conditions is available in a stock exchange release published on 24 November 2020, and on the decision on the repurchase of own shares for the incentive program in a stock exchange release published on 14 December 2022. The purpose of the long-term incentive program is to support the implementation of the company’s strategy, to align the objectives of the management and the company’s shareholders to increase the value of the company, to improve the performance of the company and to strengthen the commitment of the management to the company.

Additional information:

Ari Vesterinen, CFO

tel. +358 40 5050 440

Harvia is one of the leading companies operating in the sauna and spa market globally, as measured by revenue. Harvia’s brands and product portfolio are well known in the market, and the company’s comprehensive product portfolio strives to meet the needs of the international sauna and spa market of both private and professional customers.

Harvia’s revenue totaled EUR 172.4 million in 2022. Harvia Group employs more than 600 professionals in Finland, China and Hong Kong, Romania, Austria, United States, Germany and Estonia. The company is headquartered in Muurame, Finland, adjacent to its largest sauna and sauna component manufacturing facility.

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