SAF Tehnika

Remuneration Information • Oct 31, 2025

SAF Tehnika JSC

Remuneration Report

for the year ended June 30, 2025

Introduction

The remuneration report of the Board and Council of the joint stock company "SAF Tehnika" (hereinafter referred to as the Company) for the year ended June 30, 2025, has been prepared in accordance with the remuneration policy of the Board and Council, which was developed in accordance with the requirements of Section D Chapter III1 of the Financial Instruments Market Law, which introduced Directive (EU) 2017/828 of the European Parliament and of the Council in the Republic of Latvia as regards the encouragement of long-term shareholder engagement.

The remuneration report has been drawn up by the Board of the Company. The remuneration report is checked by a sworn auditor and is reviewed and approved at the shareholders' meeting together with other components of the Company's annual report.

• 1. Remuneration of the Company's Board and Council members is based on the following basic principles:
• 1.1. Members of the Board and Council of the Company do not receive special remuneration for the performance of their duties as members of the Board or Council.
• 1.2. For members of the Board/Council who have an employment relationship with the Company in any other position, remuneration is included in the salary. The right to reclaim or defer compensation is not provided for. If a member of the Board/Council has an employment or other civil relationship with the Company, remuneration includes salary and other payments or benefits to a member of the Board/Council. The part of remuneration resulting from employment relationship or other civil relations may vary, for example, in case of granting bonuses, extras, health insurance, etc.

The determination of the management remuneration takes into account the professional skills of each member of the Board, the level of responsibility for the work process and resources, as well as the Company's overall financial indicators based on annual results, budget and sales forecasts, sales promotion.

The remuneration report includes information for the reporting year, as well as comparative information for the year ended on June 30, 2024, and for some information comparative data for the previous three years are provided.

The remuneration report for the reporting year ending on 30 June, 2024 was approved at the shareholder's meeting on 04 December 2024. The decision was adopted, with 1 924 790 votes "in favor", 0 votes "against", 0 votes "abstentions".

Remuneration of members of the Board

The fixed remuneration of the members of the Board includes the salary and change in accruals for unused vacations and may include other benefits and privileges not related to the performance of job duties or tasks, such as health insurance, private use of the Company's car or mobile communication device within certain limits, as well as subsistence (food) allowance in accordance with the concluded collective agreement, etc.

Variable remuneration may consist of the following costs in monetary form:

• § annual bonuses based on the results of the previous reporting year of the Company;
• § individual payouts for special achievements or events.

Remuneration of members of the Council

The fixed remuneration of the members of the Council includes the salary and change in accruals for unused vacations and may include other benefits and privileges not related to the performance of job duties or tasks, such as health insurance, private use of the Company's car or mobile communication device within certain limits, as well as subsistence (food) allowance in accordance with the concluded collective agreement, etc.

Members of the Council do not receive additional payments for work on the Audit Committee. Members of the Council who do not have an employment relationship with the Company do not receive special remuneration for performing the duties of members of the Council.

Term of ofce of the Council is from December 08, 2024 to December 07, 2027.

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Remuneration of members of the Board and Council and other benefits paid or payable for the financial year 2024/2025 is presented below:

Name, Surname, Position	Fixed Remuneration		Variable Remuneration	Total Remuneration	Fixed / Variable Remuneration
	Salary EUR	Other Benefits EUR	Total EUR	EUR	EUR	%
Normunds Bergs Chairman of the Board	93 016	6 922	99 939	6 920	106 858	94%	6%
Didzis Liepkalns Chief Technical Officer, Member of the Board	48 078	1186	49 264	4 385	53 649	92%	8%
Zane Jozepa Head of Finance and Administrative Department, Member of the Board	66 878	7 673	74 551	5 560	80 111	93%	7%
Jānis Bergs Vice President of Sales and Marketing, Member of the Board	2 650	535	3 185	_	3 185	100%	0%
Jānis Bergs Vice President of Sales and Marketing, Member of the Board (another company of the Group)	188 288	24 074	212 362	-	212 362	100%	0%
Total Board Remuneration	398 910	40 390	439 301	16 685	456 166	96%	4%
Juris Ziema Head of Production, Chairman of the Council	60 534	5 561	66 095	5 030	71 125	93%	7%
Andrejs Grišāns Head of Production, Vice- Chairman of the Council	46 866	11 664	58 530	3 936	62 466	94%	6%
Aira Loite Director of Digital Transformation, Member of the Council	56 694	1 472	58 166	4738	62 904	92%	8%
Total Council Remuneration	164 094	18 697	182 791	13 704	196 495	93%	7%

Remuneration of members of the Board and Council and other benefits paid or payable for the financial year 2023/2024 is presented below:

Name, Surname, Position	Fixed Remuneration			Variable	Total	Fixed / Variable
	Salary EUR	Other Benefits EUR	Total EUR	Remuneration EUR	Remuneration EUR	Remuneration %
Normunds Bergs Chairman of the Board	83 805	2 849	86 654	-	86 654	100%	0%
Didzis Liepkalns Chief Technical Officer, Member of the Board	52 902	1369	54 271	-	54 271	100%	0%
Zane Jozepa Head of Finance and Administrative Department, Member of the Board	65 060	7 183	72 243	-	72 243	100%	0%
Jānis Bergs Vice President of Sales and Marketing, Member of the Board	2 644	600	3 244	-	3 244	100%	0%
Jānis Bergs Vice President of Sales and Marketing, Member of the Board (another company of the Group)	197 065	28 836	225 901	-	225 901	100%	0%
Total Board Remuneration	401 476	40 837	442 313	-	442 313	100%	0%
Juris Ziema Head of Production, Chairman of the Council	57 926	5 832	63 758	-	63 758	100%	0%
Andrejs Grišāns Head of Production, Vice- Chairman of the Council	35 856	4 609	40 465	-	40 465	100%	0%
Aira Loite Director of Digital Transformation, Member of the Council	57 794	1136	58 930	-	58 930	100%	0%
Total Council Remuneration	151 576	11 577	163 153	-	163 153	100%	0%

Average remuneration of full-time employees (excluding members of the Board and Council)

	2024/2025	2023/2024	2022/2023	2021/2022	2020/2021
	EUR	EUR	EUR	EUR	EUR
Salary	7 050 444	6 465 968	7 441 444	6 043 483	4 906 009
Average number of employees	212	211	205	184	179
Average remuneration per employee	33 257	30 644	36 300	32 845	27 408

Salary is presented by the accrual method.

Management Remuneration

	2024/2025	2023/2024	2022/2023	2021/2022	2020/2021
	EUR	EUR	EUR	EUR	EUR
Fixed remuneration of members of the Council	182 792	163 153	179 382	165 800	98 574
Variable remuneration of members of the Council	13 704	-	46 940	43 766	26 302
Total remuneration of members of the Council	196 496	163 153	226 322	209 566	124 876
Fixed remuneration of members of the Board	439 300	442 313	428 736	385 905	306 955
Variable remuneration of members of the Board	16 865	-	223 195	334 231	651 661
Total remuneration of members of the Board	456 165	442 313	651 931	720 136	958 616

Performance results

	2024/2025 EUR	2023/2024 EUR	2022/2023 EUR	2021/2022 EUR	2020/2021 EUR
Revenue from contracts with customers	21 924 653	23 258 653	32 040 313	29 135 280	20 983 223
Profit/(loss) before tax	(551 789)	(1 339 282)	3 622 335	5 803 336	3 176 647
Profit/(loss) of the reporting year	(551 789)	(1 339 282)	3 117 404	5 754 239	3 176 647

Please see other performance results in the respective year's annual report.

Number of shares and share options granted and offered and the main conditions for the use of options, including the price and date of their use, and their changes (if any).

None

Information on cases where a variable part of remuneration has been reclaimed.

None

Temporary derogations applied, including an explanation of the nature of the exception and an indication of the specific components of the remuneration policy for which the temporary derogation has been applied.

None