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Siguldas CMAS

Remuneration Information • Apr 3, 2025

2236_rns_2025-04-03_30491bd5-0c91-4702-8768-ac1020e2372f.pdf

Remuneration Information

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Joint Stock Company

'Siguldas ciltslietu un mākslīgās apsēklošanas stacija'

REMUNERATION REPORT

FOR MEMBERS OF THE MANAGEMENT BOARD

AND THE SUPERVISORY BOARD

for 2024

Sigulda 2025

CONTENT

INTRODUCTION
3
TERMS USED4
REMUNERATION OF THE MANAGEMENT BOARD MEMBERS for 2024
5
REMUNERATION OF THE MANAGEMENT BOARD MEMBERS for 2023
6
REMUNERATION OF THE MANAGEMENT BOARD MEMBERS for 2022
7
REMUNERATION OF THE MANAGEMENT BOARD MEMBERS for 2021
8
REMUNERATION OF THE MANAGEMENT BOARD MEMBERS for 2020
9
REMUNERATION OF THE SUPERVISORY BOARD MEMBERS for 2024
10
REMUNERATION OF THE SUPERVISORY BOARD MEMBERS for 2023
11
REMUNERATION OF THE SUPERVISORY BOARD MEMBERS for 2022
12
REMUNERATION OF THE SUPERVISORY BOARD MEMBERS for 2021
13
REMUNERATION OF THE SUPERVISORY BOARD MEMBERS for 2020
14
REMUNERATION OF THE MANAGEMENT BOARD AND SUPERVISORY BOARD for 2024
15
REMUNERATION OF THE MANAGEMENT BOARD AND SUPERVISORY BOARD for 2023
15
REMUNERATION OF THE MANAGEMENT BOARD AND SUPERVISORY BOARD for 2022
16
REMUNERATION OF THE MANAGEMENT BOARD AND SUPERVISORY BOARD for 2021
16
REMUNERATION OF THE MANAGEMENT BOARD AND SUPERVISORY BOARD for 2020
17

INTRODUCTION

Remuneration Report of the Members of the Board and the Supervisory Board of the Joint Stock Company 'Siguldas ciltslietu un mākslīgās apsēklošanas stacija' for 2024 (hereinafter – the Remuneration Report) has been prepared in accordance with the Remuneration Policy of the Members of the Board and the Supervisory Board approved by the decision on April 26, 2024 of shareholders meeting, based on the provisions of Directive (EU) 2017/828 of the European Parliament referring to the promotion of involvement of the long-term shareholders and Article 59.3 of the Law on the Financial Instruments Market of the Republic of Latvia implementing the said Directive.

The Remuneration Report has been prepared by the Board of the Company and reviewed by the Supervisory Board of the Company. The Remuneration Report is examined by a sworn auditor, and it is reviewed and approved at the shareholders' meeting together with other components of the annual report.

The Remuneration Report is published along with the annual report as its separate component in Latvian and English on the Company's website: https://www.sigmas.lv, in the section 'Investors', as well as on the Nasdaq Riga stock exchange website: https: // www .nasdaqbaltic.com.

2024 ended with a profit of 80.8 thousand euros. Compared to 2023, the profit before taxes for the reporting year has increased by 15.6 thousand euros.

The Company's net turnover in 2024 was 1.7 million euros, which is by 118.8 thousand euros or 7.7% more than in 2023.

The Management Board and the Supervisory Board remuneration policy ensures that in 2024 the Company's strategy, realization of long-term interests and sustainability, and the continuity of operations has been implemented.

There were no significant events in 2024, as well as no significant risks that the Company could face and that could affect its financial position and future financial results.

TERMS USED

Company – Joint Stock Company 'Siguldas ciltslietu un mākslīgās apsēklošanas stacija', reg. No. 40003013295.

Board – the Management Board of the Company.

Supervisory Board – the Supervisory Board of the Company.

Shareholders – shareholders of the Company's capital shares (shares).

Fixed remuneration – a fixed part of the remuneration (gross), which includes salary, position-related payments and other benefits not related to performance of the Board and the Supervisory Board members.

Variable remuneration – a variable part of the remuneration (gross) or annual bonuses (bonuses) and possible non-recurring costs that are paid to the members of the Board in addition to the fixed remuneration during the financial year.

Remuneration – all fixed and variable remuneration and additional payments provided directly or indirectly by the Company in exchange for professional services of the members of the Board and the Supervisory Board.

Remuneration policy – remuneration policy for the members of the Board and the Supervisory Board.

Remuneration report – a report of the remuneration of the members of the Board and the Supervisory Board granted or paid in the previous financial year or due to each of the current or former members of the Board and the Supervisory Board.

Additional payments – an additional compensation that the Company may provide in addition to fixed and variable remuneration, including compensation for non-compete obligations, termination payments or redundancies and other payments that arise from applicable law or individual contract.

KPI – key performance indicators.

REMUNERATION OF THE MANAGEMENT BOARD MEMBERS for 2024

Fixed remuneration, EUR Variable remuneration, EUR Total
remune		 Against the total, %
Name, surname, position Salary Remuneration
of a board
member		 Leave
allowance		 Life insurance
with cash
value accrual		 Health
insurance		 Annual
bonus		 Gifts Support ration,
EUR		 fixed variable
Nils Ivars Feodorovs,
chairman of the
Management Board		 - 31 488 2 190 - 433 660 165 - 34 936 97.6 2.4
Sarmīte Arcimoviča,
member of the
Management Board, head
of Production and Sales
Department		 18 712 7 578 1 960 - 433 590 165 - 29 438 97.4 2.6
Valda Mālniece, member
of the Management
Board, head of Finance
and Accounting
Department		 19 977 7 924 1 990 - 433 595 165 - 31 084 97.6 2.4
Total in 2024 38 689 46 990 6 140 - 1 299 1 845 495 - 95 458 97.5 2.5

Fixed remuneration, EUR Variable remuneration, EUR Total
remune		 Against the total, %
Name, surname, position Salary Remuneration
of a board
member		 Leave
allowance		 Life insurance
with cash
value accrual		 Health
insurance		 Annual
bonus		 Gifts Support ration,
EUR		 fixed variable
Nils Ivars Feodorovs,
chairman of the
Management Board		 - 27 307 1 905 - 414 570 165 - 30 361 97.6 2.4
Sarmīte Arcimoviča,
member of the
Management Board, head
of Production and Sales
Department		 16 361 7 200 1 705 - 414 510 165 - 26 355 97.4 2.6
Valda Mālniece, member
of the Management
Board, head of Finance
and Accounting
Department		 16 838 7 200 1 730 - 414 520 165 220 27 087 96.7 3.3
Total in 2023 33 199 41 707 5 340 - 1 242 1 600 495 220 83 803 97.2 2.8

Fixed remuneration, EUR
Variable remuneration, EUR		 Against the total, %
Name, surname, position Salary Remuneration
of a board
member		 Leave
allowance		 Life insurance
with cash
value accrual		 Health
insurance		 Annual
bonus		 Gifts Support remune
ration,
EUR		 fixed variable
Nils Ivars Feodorovs,
chairman of the
Management Board		 - 27 339 1 905 - 375 570 315 - 30 504 97.1 2.9
Sarmīte Arcimoviča,
member of the
Management Board, head
of Production and Sales
Department		 16 030 7 200 1 705 - 375 510 315 - 26 135 96.8 3.2
Valda Mālniece, member
of the Management
Board, head of Finance
and Accounting
Department		 17 082 7 200 1 730 - 375 520 315 - 27 222 96.9 3.1
Total in 2022 33 112 41 739 5 340 - 1 125 1 600 945 - 83 861 97.0 3.0

Fixed remuneration, EUR Variable remuneration, EUR Total Against the total, %
Name, surname, position Salary Remuneration
of a board
member		 Leave
allowance		 Life insurance
with cash
value accrual		 Health
insurance		 Annual
bonus		 Gifts Support remune
ration,
EUR		 fixed variable
Nils Ivars Feodorovs,
chairman of the
Management Board		 - 23 904 1 660 1 276 312 500 165 - 27 817 97.6 2.4
Sarmīte Arcimoviča,
member of the
Management Board, head
of Production and Sales
Department		 14 024 6 540 1 510 1 166 312 455 165 - 24 172 97.4 2.6
Valda Mālniece, member
of the Management
Board, head of Finance
and Accounting
Department		 14 251 6 273 1 530 1 177 312 460 165 - 24 168 97.4 2.6
Total in 2021 28 275 36 717 4 700 3 619 936 1 415 495 - 76 157 97.5 2.5

Fixed remuneration, EUR Variable remuneration, EUR Total Against the total, %
Name, surname, position Salary Remuneration
of a board
member		 Leave
allowance		 Life insurance
with cash
value accrual		 Health
insurance		 Annual
bonus		 Gifts Support remune
ration,
EUR		 fixed variable
Nils Ivars Feodorovs,
chairman of the
Management Board		 - 23 741 - 1 392 297 500 165 - 26 095 97.5 2.5
Sarmīte Arcimoviča,
member of the
Management Board, head
of Production and Sales
Department		 13 782 6 326 1 510 1 272 297 455 165 - 23 807 97.4 2.6
Valda Mālniece, member
of the Management
Board, head of
Finance
and Accounting
Department		 14 681 6 540 1 530 1 284 297 460 165 - 24 957 97.5 2.5
Total in 2020 28 463 36 607 3 040 3 948 891 1 415 495 - 74 859 97.5 2.5

Fixed remuneration, EUR Variable remuneration, EUR Total
remune		 Against the total, %
Name, surname, position Salary Remuneration
of a board
member		 Leave
allowance		 Life insurance
with cash
value accrual		 Health
insurance		 Annual
bonus		 Gifts Support ration,
EUR		 fixed variable
Inita Bedrīte, chairman of
the Supervisory Board,
deputy head of the
Production and Sales
Department regarding
production issues		 17 008 2 400 1 315 - 433 395 315 - 21 866 96.8 3.2
Guntis Mecaucis, deputy
chairman of the Supervisory
Board		 - 2 040 - - - - - - 2 040 100.0 -
Līga Kubuliņa, member of
the Supervisory Board,
deputy head of the
Production and Sales
Department		 20 985 2 040 1 385 - 433 425 165 - 25 433 97.7 2.3
Baiba Mecauce, member of
the Supervisory Board		 - 2 040 - - - - - - 2 040 100.0 -
Edgars Nartišs, member of
the Supervisory Board		 - 2 040 - - - - - - 2 040 100.0 -
Total in 2024 37 993 10 560 2 700 - 866 820 480 - 53 419 97.6 2.4

Fixed remuneration, EUR Variable remuneration, EUR Total Against the total, %
Name, surname, position Salary Remuneration
of a board
member		 Leave
allowance		 Life insurance
with cash
value accrual		 Health
insurance		 Annual
bonus		 Gifts Support remune
ration,
EUR		 fixed variable
Inita Bedrīte, chairman of
the Supervisory Board,
deputy head of the
Production and Sales
Department regarding
production issues		 14 071 2 289 1 170 - 414 350 165 - 18 459 97.2 2.8
Maija Beča, deputy
chairman of the Supervisory
Board till 21.04.2023, head
of the Milk Quality Control
Laboratory		 7 530 562 1 150 - - - - - 9 242 100.0 -
Guntis Mecaucis, member
of the Supervisory Board,
deputy chairman of the
Supervisory Board from
21.04.2023		 - 1 966 - - - - - - 1 966 100.0 -
Līga Kubuliņa, member of
the Supervisory Board from
21.04.2023, deputy head of
the Production and Sales
Department		 13 531 1 411 1 055 - 414 380 150 - 16 941 96.9 3.1
Baiba Mecauce, member of
the Supervisory Board		 - 1 966 - - - - - - 1 966 100.0 -
Edgars Nartišs, member of
the Supervisory Board from
21.04.2023		 - 1 411 - - - - - - 1 411 100.0 -
Total in 2023 35 132 9 605 3 375 - 828 730 315 - 49 985 97.9 2.1

Name, surname, position Fixed remuneration, EUR Variable remuneration, EUR Total
remune		 Against the total, %
Salary Remuneration
of a board
member		 Leave
allowance		 Life insurance
with cash
value accrual		 Health
insurance		 Annual
bonus		 Gifts Support ration,
EUR		 fixed variable
Inita Bedrīte, chairman of
the Supervisory Board,
deputy head of the
Production and Sales
Department regarding
production issues		 14 074 2 040 1 140 - 375 340 165 - 18 134 97.2 2.8
Maija Beča, deputy
chairman of the Supervisory
Board, head of the Milk
Quality Control Laboratory		 23 674 1 800 1 300 - 375 510 165 - 27 824 97.6 2.4
Baiba Mecauce, member of
the Supervisory Board		 - 1 800 - - - - - - 1 800 100.0 -
Guntis Mecaucis, member
of the Supervisory Board		 - 1 800 - - - - - - 1 800 100.0 -
Jānis Tūtāns, member of the
Supervisory Board till
22.04.2022		 - 564 - - - - - - 564 100.0 -
Total in 2022 37 748 8 004 2 440 - 750 850 330 - 50 122 97.6 2.4

REMUNERATION OF THE SUPERVISORY BOARD MEMBERS for 2021

Fixed remuneration, EUR Variable remuneration, EUR Total
remune		 Against the total, %
Name, surname, position Salary Remuneration
of a board
member		 Leave
allowance		 Life insurance
with cash
value accrual		 Health
insurance		 Annual
bonus		 Gifts Support ration,
EUR		 fixed variable
Inita Bedrīte, chairman of
the Supervisory Board,
deputy head of the
Production and Sales
Department regarding
production issues		 12 239 2 040 1 015 770 312 305 165 - 16 846 97.2 2.8
Maija Beča, deputy
chairman of the Supervisory
Board, head of the Milk
Quality Control Laboratory		 18 697 1 800 1 320 1 012 312 400 165 - 23 706 97.6 2.4
Baiba Mecauce, member of
the Supervisory Board		 - 1 800 - - - - - - 1 800 100.0 -
Guntis Mecaucis, member
of the Supervisory Board		 - 1 800 - - - - - - 1 800 100.0 -
Jānis Tūtāns, member of the
Supervisory Board, head of
the Transport and Supply
Department
till 17.11.2021		 9 668 1 800 945 726 312 - - 5 119 18 570 72.4 27.6
Total in 2021 40 604 9 240 3 280 2 508 936 705 330 5 119 62 722 90.2 9.8

Fixed remuneration, EUR Variable remuneration, EUR Total Against the total, %
Name, surname, position Salary Remuneration
of a board
member		 Leave
allowance		 Life insurance
with cash
value accrual		 Health
insurance		 Annual
bonus		 Gifts Support remune
ration,
EUR		 fixed variable
Inita Bedrīte, chairman of
the Supervisory Board,
deputy head of the
Production and Sales
Department		 12 240 1 965 995 840 297 305 165 - 16 807 97.2 2.8
Maija Beča, deputy
chairman of the Supervisory
Board, head of the Milk
Quality Control Laboratory		 21 710 1 800 1 320 1 032 297 480 165 - 26 804 97.6 2.4
Baiba Mecauce, member of
the Supervisory Board		 - 1 800 - - - - - - 1 800 100.0 -
Jekaterina Kreise, member
of the Supervisory Board
until 24.04.2020, head of the
Informatics Department		 3 774 585 795 251 - - - - 5 405 100.0 -
Maruta Niedrīte, member of
the Supervisory Board until
24.04.2020		 - 585 - - - - - - 585 100.0 -
Jānis Tūtāns, member of the
Supervisory Board from
24.04.2020, head of the
Transport and Supply
Department		 7 898 1 238 795 471 297 285 300 220 11 504 93.0 7.0
Guntis Mecaucis, member
of the Supervisory Board
from 24.04.2020		 - 1 238 - - - - - - 1 238 100.0 -
Total in 2020 45 622 9 211 3 905 2 594 891 1 070 630 220 64 143 97.0 3.0

REMUNERATION OF THE MANAGEMENT BOARD AND SUPERVISORY BOARD for 2024

Fixed remuneration, EUR Variable remuneration, EUR Total
remune		 Against total, %
Salary Remuneration
of a board
member		 Leave
allowance		 Life insurance
with cash
value accrual		 Health
insurance		 Annual
bonus		 Gifts Support ration,
EUR		 fixed variable
Management Board 38 689 46 990 6 140 - 1 299 1 845 495 - 95 458 97.5 2.5
Supervisory Board 37 993 10 560 2 700 - 866 820 480 - 53 419 97.6 2.4
Total 76 682 57 550 8 840 - 2 165 2 665 975 - 148 877 97.6 2.4
Full-time employee
of an
equivalent unit, average		 19 435 - 1 325 - 433 465 165 - 21 823 97.1 2.9

REMUNERATION OF THE MANAGEMENT BOARD AND SUPERVISORY BOARD for 2023

Fixed remuneration, EUR Variable remuneration, EUR Against total, %
Salary Remuneration
of a board
member		 Leave
allowance		 Life insurance
with cash
value accrual		 Health
insurance		 Annual
bonus		 Gifts Support remune
ration,
EUR		 fixed variable
Management Board 33 199 41 707 5 340 - 1 242 1 600 495 220 83 803 97.2 32.8
Supervisory Board 35 132 9 605 3 375 - 828 730 315 - 49 985 97.9 2.1
Total 68 331 51 312 8 715 - 2 070 2 330 810 220 133 788 97.5 2.5
Full-time employee
of an
equivalent unit, average		 17 594 - 1 055 - 414 380 165 - 19 608 97.2 2.8

REMUNERATION OF THE MANAGEMENT BOARD AND SUPERVISORY BOARD for 2022

Fixed remuneration, EUR Variable remuneration, EUR Against total, %
Salary Remuneration
of a board
member		 Leave
allowance		 Life insurance
with cash
value accrual		 Health
insurance		 Annual
bonus		 Gifts Support remune
ration,
EUR		 fixed variable
Management Board 33 112 41 739 5 340 - 1 125 1 600 945 - 83 861 97.0 3.0
Supervisory Board 37 748 8 004 2 440 - 750 850 330 - 50 122 97.6 2.4
Total 70 860 49 743 7 780 - 1 875 2 450 1 275 - 133 983 97.2 2.8
Full-time employee
of an
equivalent unit, average		 17 008 - 1 055 - 375 345 165 - 18 948 97.3 2.7

REMUNERATION OF THE MANAGEMENT BOARD AND SUPERVISORY BOARD for 2021

Fixed remuneration, EUR Variable remuneration, EUR Against total, %
Salary Remuneration
of a board
member		 Leave
allowance		 Life insurance
with cash
value accrual		 Health
insurance		 Annual
bonus		 Gifts Support remune
ration,
EUR		 fixed variable
Management Board 28 275 36 717 4 700 3 619 936 1 415 495 - 76 157 97.5 2.5
Supervisory Board 40 604 9 240 3 280 2 508 936 705 330 5 119 62 722 90.2 9.8
Total 68 879 45 957 7 980 6 127 1 782 2 120 825 5 119 138 879 94.2 5.8
Full-time employee
of an
equivalent unit, average		 12 236 - 813 583 312 255 165 - 14
364		 97.1 2.9
Fixed remuneration, EUR Variable remuneration, EUR Against total, %
Salary Remuneration
of a board
member		 Leave
allowance		 Life insurance
with cash
value accrual		 Health
insurance		 Annual
bonus		 Gifts Support remune
ration,
EUR		 fixed variable
Management Board 28 463 36 607 3 040 3 948 891 1 415 495 - 74 859 97.5 2.5
Supervisory Board 45 622 9 211 3 905 2 594 891 1 070 630 220 64 143 97.0 3.0
Total 74 085 45 818 6 945 6 542 1 782 2 485 1 125 220 139 002 97.2 2.8
Full-time employee
of an
equivalent unit, average		 11 937 - 795 782 297 240 165 - 14 216 97.2 2.8

REMUNERATION OF THE MANAGEMENT BOARD AND SUPERVISORY BOARD for 2020

The remuneration of the Management Board and the Supervisory Board is in line with the policy. The Company's performance criteria were not applied in determining the remuneration of the Board.

No additional payments, incl. related to the termination of the contract, were not made.

___________________________________________________________________________________________

The company is not part of the group within the meaning of the Law on Annual Accounts and Consolidated Annual Accounts, accordingly, no remuneration was received from other companies.

No shares or share options were granted or offered.

The variable remuneration part was not claimed back.

There were no exceptional cases of temporary derogations from the remuneration policy.

In 2023, the Company's employees were not provided life insurance with cash value accrual.

Nils Ivars Feodorovs Sarmīte Arcimoviča Valda Mālniece

Chairman of the Management Board Member of the Management Board Member of the Management Board

21 March 2025

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