Elisa Oyj — Share Issue/Capital Change 2021

Mar 4, 2021

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

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

ELISA CORPORATION STOCK EXCHANGE RELEASE 4 MARCH 2021 AT 6:10 PM

The Board of Directors of Elisa Corporation has approved a new share-based
incentive plan for the Group key employees. The aim of the new 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 new 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 will resolve on the Plan’s performance criteria and required performance
levels for each criterion at the beginning of a performance period. The
potential reward of the Plan from the performance period 2021–2023 will be based
on the Group’s Earnings per Share (EPS), on the International Digital services
growth, and annual progress in key business targets.

The rewards to be paid on the basis of the performance period 2021–2023
correspond to the value of a maximum total of 410.700 Elisa Corporation shares
(including also the proportion to be paid in cash). The potential reward on the
basis the performance period 2021–2023 will be paid partly in the Company’s
shares and partly in cash in 2024. 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. +358 50 520 5555

Distribution:

Nasdaq Helsinki
Principal Media
elisa.com