Vestas Wind Systems — Remuneration Information 2015

Apr 15, 2015

Aarhus, Denmark, 2015-04-15 11:45 CEST (GLOBE NEWSWIRE) --

At the annual general meeting held on 30 March 2015, the revised remuneration
policy and general guidelines for incentive pay for the Board of Directors and
the Executive Management of Vestas Wind Systems A/S were adopted.

The Board of Directors has subsequently set out the terms and conditions
governing the restricted performance share programme for the year 2015 for all
participants, including the Executive Management. The new share-based incentive
programme is an adjustment of the previous programmes and will still be based
on restricted performance shares. The programme is adjusted to a performance
period of three years replacing the previous one-year performance period and a
performance measurement based on financial key performance indicators as well
as the Vestas Group’s market share as defined by the Board of Directors.

Partic The Executive Management, Group Senior Vice Presidents, Senior Vice
ipants Presidents, Vice Presidents, Chief Specialists and Chief Project
Managers in the Vestas Group. The programme for 2015 includes 190
participants.

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Number The number of shares to be granted is based on a target level for each
of corporate level. No payments for any grants are made by the
share participants. If all KPIs are reached on target level, a total of
s 340,000 shares will be granted from the programme with a total present
value calculated based on the current share price amounting to EUR 15m
(value at close of Nasdaq Copenhagen on 14 April, 2015). For 2015, the
target number of shares for the Executive Management will be 120,000
shares in total.
The actual number of restricted performance shares available for
distribution may range between 0 and 150 per cent of the target level
and is determined by Vestas’ performance in the financial years 2015,
2016, and 2017. The maximum grant of shares under the programme in
total is 510,000 shares based on full performance achievement.

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Time The restricted performance shares are to be granted in two equal
of portions in 2018 and 2020.
grant

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Key The KPIs for all three performance years are based on Vestas’
Perfo performance on earnings per share (EPS), return on invested capital
rmance (ROIC), as well as the Vestas Group’s market share estimated by a
Indic predefined, independent, well-reputed supplier of such data.
ators

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Condit The restricted performance shares are governed by the specific terms and
ions conditions of the programme and subject to mandatory law. If a
participant chooses to leave Vestas before the time of grant, the
participant’s rights to receive the shares will generally lapse.

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Adjust The number of shares available for grant may be adjusted in the event of
ments changes in Vestas’ capital structure. Further, in the event of a change
to of control, merger, winding-up or demerger of Vestas, an accelerated
the grant may extraordinarily take place. In the event of certain transfers
progr of activities or changes in ownership interests within the Vestas
amme Group, adjustment, replacement of the programme and/or settlement in
cash of the programme entirely or partly may also take place.

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Contact details
Vestas Wind Systems A/S, Denmark
Hans Martin Smith, Senior Vice President, Investor Relations
Tel.: +45 9730 8209