SSH Communications Security — Remuneration Information 2026

Mar 5, 2026

SSH

SSH Communications Security Remuneration Report 2025 for Governing Bodies

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Contents

Introduction...3
Remuneration Principles...3
Remuneration of the Board of Directors in 2025...5
Remuneration of the CEO in 2025...6
Short-term Incentives...6
Long-term Incentives...7

SSH Communications Security Corp. | Remuneration Report 2025 for Governing Bodies

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Introduction

SSH Communication Security's ("SSH" or "Company") Remuneration Policy was presented in AGM 2024 and this Remuneration Report is compiled according to the Finnish Corporate Governance Code 2025.

The remuneration report is published annually in connection with SSH's corporate governance statement, and it will be presented to the shareholders in the annual general meeting following its publication.

Remuneration Policy sets out the principles for remuneration of the Board of Directors and the Chief Executive Officer ("CEO"). The remuneration of the Board and CEO in 2025 followed the Remuneration Policy framework and principles, and no deviations to the Policy have been made, nor have any claw backs of remunerations taken place.

This Remuneration Report presents information on the remuneration of the Board of Directors and CEO during the fiscal year 2025. It also presents the development of average employee remuneration and company performance over the past five financial years in comparison to CEO and Board remuneration.

Remuneration Principles

Remuneration of SSH's governing bodies is based on the Remuneration Policy that was accepted in the Annual General Meeting held on March 25, 2024. The Remuneration Policy is applied until the Annual General Meeting in 2028, unless the Board of Directors decides to present it to the General Meeting earlier. The Remuneration Policy is available at the company website.

All remuneration intends to promote SSH's business strategy, long-term financial success and positive development of shareholder value while being fair, competitive, enhancing commitment and supporting SSH's general objectives.

Remuneration of personnel is based on a total remuneration, which include both variable and fixed components as well as normal personnel benefits. The remuneration of personnel is strongly guided by the performance-based remuneration which is applied throughout the organization.

Entire personnel are subject to a performance-based (individual and/or company-wide) remuneration scheme. In addition, personnel are mainly part of a long-term remuneration scheme, such as a share or stock option-based remuneration scheme.

This all aims to a personnel remuneration practice that is aligned with the interests of the Company and its shareholders and helps to engage and motivate key persons to operate in accordance with the shared goals.

SSH Communications Security Corp. | Remuneration Report 2025 for Governing Bodies

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The General Meeting decides on the remuneration payable for Board as well as the basis for its determination. Although the Board of Directors is not covered by the same overall remuneration as the personnel, the purpose of the remuneration of the board is also to steer activities towards the same long-term objectives of the Company.

The Board of Directors decides on the remuneration of the CEO in accordance with the Remuneration Policy. Remuneration of the CEO consists of fixed and variable remuneration, the proportions of which are assessed according to the company's business situation at hand and CEO's remuneration is partly based on the same variable components than other employees. The aim of variable remuneration is thus to steer the CEO and the personnel towards the same objectives and create a strong link between the Company's financial performance and CEO remuneration.

The following presents a comparison between the overall remuneration of the CEO and the Board, the average employee remuneration and company performance for the financial years 2021 to 2025. In below, also a graph of share price during the same period is presented.

	2021	2022	2023	2024	2025
Board remuneration in total (k€)	101,2	90,0	81,0	118,8	158,9
Change from previous year %	-7,4 %	-11,1 %	-9,9 %	+46,7 %	+44,8 %
CEO remuneration in total (k€)	262,7	325,8	486,0	349,1	304,9
Change from previous year %	-33,7 %	+24,0 %	+33,0 %	-22,5 %	-12,7 %
Average employee pay, Finland (k€)	73,4k	80,8k	71,6k	75,8k	78,7k
Average employee pay, Global (k€)	92,5k	88,0k	78,6k	84,5k	89,5k
Annual turnover (M€)	15,9	19,3	20,3	22,2	21,6

Note: number of board members may change from year to year. More detailed breakdown of board remuneration can be found in CG statements.

Note: Annual total CEO remuneration described above may include remuneration of more than one CEO's and include additional termination compensations. In 2024 SSH had two different CEOs. In 2024 a termination compensation of 145,2k EUR was paid.

Note: Average employee pay has been calculated by dividing the salary costs from the financial statements by the average number of employees. The numbers for average employee pay in Finland for years 2021-2022 have been fixed to this report due to mistake in headcount calculations.

Note: The chairman of the board was not paid compensation during 2022-2023 as per his own request.

SSH Communications Security Corp. | Remuneration Report 2025 for Governing Bodies

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Share price of Company's share SSH1V during 2021-2026

Remuneration of the Board of Directors in 2025

As stated in the Remuneration Policy of the Governing Bodies approved by the Annual General Meeting in 2024, Board remuneration consists of annual fees for Board members and Chairman.

Decisions on the remuneration of the Board of Directors are made annually by the Annual General Meeting. According to the resolution made by the Annual General Meeting of 2025 the annual remunerations are:

Chairman of the Board	28 800 €
Member of the Board	24 000 €

In the extraordinary general meeting held on 7 August 2025, the annual remunerations were increased to:

Chairman of the Board	70 000 €
Member of the Board	35 000 €

No separate attendance remuneration is paid. Company has no Committees of the Board.

Annual remuneration of the Board of Directors was not paid partially in shares, share-based rights or in cash with an obligation to acquire Company shares. The members of the Board are not part of the Company's long-term incentive plan and they have not received other financial benefits. The members of the Board do not have an employment or service contract with the SSH.

Remunerations paid to the Board of Directors during 2025:

Board member	EUR
Candolin Catharina	28 409
Di Sandro Francesco (from 1.11. onwards)	0
Fredrikson Christian	28 409

SSH Communications Security Corp. | Remuneration Report 2025 for Governing Bodies

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Louhivuori Tuomo	28 409
Tavakka Kai	28 409
Österlund Henri (Chairman of the board)	45 313
Total	158 948

Remuneration paid to the members of the Board of Directors during the financial year 2025 was based on the decision of General Meeting and is in compliance with the Remuneration Policy.

Di Sandro was not paid compensation as per his own request.

Remuneration of the CEO in 2025

The CEO's remuneration includes the fixed monthly salary, fringe benefits and annually agreed variable remuneration components, which may include short-term incentives and long-term incentives such as share or stock option-based remuneration schemes.

Board of Directors and CEO annually agrees on the incentives/bonuses and related targets. CEO has no extraordinary fringe benefits. During 2025, Rami Raulas was paid a performance bonus of 100 000 EUR based on the performance of year 2024.

The CEO does not have any differing benefits. Additionally, the company does not have any differing pension arrangements for the CEO or other senior management.

The period of notice for the CEO is three months, with 3 months' severance payment.

The CEO's annual salary and other benefits in 2025 were:

Rami Raulas	304 859 €	50 000 option rights

Remuneration paid to the CEO during the financial year 2025 is in compliance with the Remuneration Policy.

Short-term Incentives

The annual performance bonus of the CEO may be based on the Company's financial result and other financial and operative targets decided annually by the Board of Directors. In 2025, the maximum amount of annual performance bonus was 100 per cent of the annual salary. The annual performance bonus is always paid in the financial period following the earning period.

During 2025, CEO's short term incentives were based on the following factors: Revenue (60%), Operating Profit / EBITDA (20%) and Subscription based revenue 12/2025 (20%).

SSH Communications Security Corp. | Remuneration Report 2025 for Governing Bodies

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In 2025, the earning criteria was fulfilled as follows: Revenue 0 %, Operating Profit / EBITDA 0 % and Subscription based revenue 12/2025 85 %, making the total 17 %. Based on this, Rami Raulas will be paid a performance bonus of 31 623 EUR in 2026.

Long-term Incentives

CEO's long-term incentives may consist of share- or stock option-based remuneration schemes or other long-term schemes. Board of Directors will decide on all long-term schemes based on the authorization from the General Meeting. In share- and option-based remuneration schemes, the continuation of the service contract may be the sole earning criterion. In addition to the actual remuneration, the objective of the long-term renumeration schemes is to adhere the CEO to the Company and align the interests of the CEO and the Company shareholders.

In 2025, the Board of Directors decided on a new stock option plan 2025A. During 2025, the CEO Rami Raulas was granted 50 000 stock options from 2025A plan.

Stock options granted to the CEO as per 31.12.2025:

Option Plan	Amount	Subscription Period
2024A	50 000	23.2.2026 – 31.3.2028
2025A	50 000	23.2.2027 – 31.3.2029

Earning criteria is the continuation of the service contract. The commitment period of the stock options is 2 years, which the company estimates is long enough to encourage and commit key personnel to work for the company's success in the long term and at the same time increase the company's profit. Long-term incentives were granted in compliance with the Remuneration Policy.

SSH Communications Security Corp. | Remuneration Report 2025 for Governing Bodies