Tecnotree Oyj — AGM Information 2022

Apr 19, 2022

Resolutions passed by the Annual General Meeting of Tecnotree Corporation and organization of the Board of Directors 0f Tecnotree Corporation

Resolutions passed by the Annual General Meeting of Tecnotree Corporation and organization of the Board of Directors 0f Tecnotree Corporation

Tecnotree Corporation Stock Exchange Release 19 April 2022 at 12.00 EET

The Annual General Meeting of Tecnotree Corporation was held today 19 April 2022
at the company’s headquarters at Tekniikantie 14, 02150 Espoo. In order to
prevent the spread of the COVID-19 pandemic, the Annual General Meeting was held
without shareholders' and their proxy representatives' presence at the meeting
venue.

The Annual General Meeting confirmed the 2021 annual accounts and consolidated
annual accounts and discharged the Board of Directors and the CEO from liability
for the financial year 2021. The Annual General Meeting also approved the
remuneration report of the governing bodies of the company.

The Annual General Meeting resolved that the profit of the parent company EUR
18.522.673,02 is transferred to the retained earnings account and that no
dividend is paid.

The Annual General Meeting confirmed in accordance with the proposal of the
Board of Directors that the Board of Directors will consist of five (5) members.
Mr. Neil Macleod, Ms. Jyoti Desai, Mr. Anders Fornander, Mr. Conrad Neil
Phoenix, and Mr. Markku Wilenius were re-elected as Board members. The Board
members were elected for a term expiring at the end of the first Annual General
Meeting following the election.

The Annual General Meeting that the annual fee of the Chairman of the Board of
Directors will be EUR 210,000, the annual fee of the Vice Chairman of the Board
EUR 120,000 and the annual fee of the other members of the Board of Directors
EUR 70,000. Approximately 45 per cent of the remuneration will be paid in
Tecnotree’s shares and approximately 55 per cent will be paid in cash. The part
of the remuneration paid in shares will be paid by either purchasing shares from
the public market, or by transferring company’s own shares. The shares will be
delivered to the Board members within two weeks from the day following the
publication of the company’s interim report for 1 January 2022 – 30 September
2022.

The audit firm Tietotili Audit Oy was re-elected as the company's auditor.
Tietotili Audit Oy has informed the company that APA Mr. Urpo Salo will continue
as the auditor with principal responsibility.

The organization of the Board of Directors 0f Tecnotree Corporation
The Board of Directors of Tecnotree Corporation elected today at the Annual
General Meeting has held an organizing meeting. Neil Macleod was elected as
Chairman and Jyoti Desai as Vice Chairman of the Board of Directors.

The Board resolved to establish an Audit Committee, a Remuneration Committee, a
Nomination Committee and a Strategy Committee. The members of the Committees
were elected as follows:

· Audit Committee: Neil Macleod (chairman), Jyoti Desai, Conrad Neil Phoenix
· Remuneration Committee: Anders Fornander (chairman), Jyoti Desai, Neil
Macleod
· Nomination Committee: Conrad Neil Phoenix (chairman), Jyoti Desai, Neil
Macleod
· Strategy Committee: Jyoti Desai (chairman), Anders Fornander, Markku
Wilenius

The Board of Directors has evaluated the independence of the Board members in
compliance with the recommendations of the Finnish Corporate Governance Code
2020 and has noted that all Board members are independent of the company and
with the exception of Neil Macleod and Conrad Neil Phoenix also independent of
the company’s significant shareholders.

Further information
Padma Ravichander, CEO, tel +97 156 414 1420
Priyesh Ranjan, CFO, tel +971 50 955 1188

About Tecnotree
Tecnotree is the only full stack digital business management solution provider
for digital service providers, with over 40 years of deep domain knowledge,
proven delivery and transformation capability across the globe. Our open source
technology based agile products and solutions comprise the full range (order-to
-cash) of business process and subscription management for telecom and other
digital service providers. Tecnotree products and platforms service over 800
million subscribers worldwide. Tecnotree is listed on Nasdaq Helsinki (TEM1V).
For more information, please visit www.tecnotree.com.

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