The Shareholders' Nomination Board of Purmo Group Plc (“Company”) proposes to the Annual General Meeting (“Annual General Meeting”) of the Company, planned be held on 25 April 2022, that the number of members of the Board of Directors, the composition of the Board of Directors and the remuneration of the Board of Directors are kept unchanged and in line with the resolutions of the Extraordinary General Meeting (the “Extraordinary General Meeting”) of Virala Acquisition Company Plc (“VAC”) held on Monday 13 December 2021, as follows:

Number of Members of the Board of Directors

The Shareholders’ Nomination Board proposes that the number of members of the Board of Directors is seven (7).

Members of the Board of Directors

The Shareholders’ Nomination Board proposes that Tomas von Rettig, Matts Rosenberg, Carina Edblad, Alexander Ehrnrooth, Carlo Grossi, Jyri Luomakoski and Catharina Stackelberg are re-elected as members of the Board of Directors.

The Shareholders’ Nomination Board proposes that Tomas von Rettig is re-elected as the Chairman of the Board of Directors and Matts Rosenberg is re-elected as the Vice Chairman of the Board of Directors.

All Board Member nominees have given their consent to the re-election and are independent of the Company and its significant shareholders, except for Tomas von Rettig, Matts Rosenberg and Alexander Ehrnrooth, who are dependent of its significant shareholders. CVs of the proposed Members of the Board of Directors are available on the Company’s
website at https://investors.purmogroup.com/governance/board-of-directors/.

Remuneration of the Members of the Board of Directors

The Shareholders’ Nomination Board proposes that the annual remuneration of the Board of Directors and Board Committees is the following:

The Chairman of the Board shall annually receive a fee of EUR 92,000, the Vice Chairman and the Chairmen of the Board Committees EUR 53,000 each and the ordinary Board Members EUR 48,000 each.

The Shareholders’ Nomination Board proposes that approximately 40% of the annual fee shall be paid in the form of class C shares of the Company. The Board Members are encouraged to keep such shares for the entire duration of their board assignment.

The annual fee shall be paid to the members of the Board of Directors in proportion to the length of their term of office.

The following meeting fees shall be payable to Board Members for each meeting of the Board of Directors and its Committees:

EUR 600 per meeting held in the Board Member’s country of residence;
EUR 1,200 per meeting held outside the Board Member’s country of residence but on the same continent as the Board Member’s country of residence;
EUR 2,400 per meeting held on another continent than the Board Member’s country of residence; or
EUR 600 per meeting held by telephone or through virtual communication channels.

An additional meeting fee of EUR 600 shall be payable to the Chairman of the Board and the Chairmen of the Board Committees for each meeting of the Board and its committees.

Compensation for reasonable travel, accommodation and other expenses related to the Board of Directors and Committee work are to be reimbursed according to the applicable policies of the Company.

The Shareholders’ Nomination Board further proposes that each of the Members of the Board of Directors shall have the right to abstain from receiving remuneration.

The Shareholders’ Nomination Board
Purmo Group Plc

Further information:

Matts Rosenberg, Chairman of the Shareholders’ Nomination Board
Lauri Soikkeli, Purmo Group Plc’s Corporate Secretary
Tel. +358 40 745 5276

Distribution:
Nasdaq Helsinki
Principal media
investors.purmogroup.com

Purmo Group is a leader in sustainable indoor climate comfort solutions in Europe. We provide complete heating and cooling solutions to residential and non-residential buildings, including radiators, towel warmers, underfloor heating, convectors, valves and controls. Our mission is to be the global leader in sustainable indoor climate comfort solutions. Our approximately 3,500 employees operate through 46 locations in 21 countries, manufacturing and distributing top quality products and solutions to customers in more than 100 countries globally. Purmo Group Plc’s shares are listed on Nasdaq Helsinki (symbol: PURMO). www.purmogroup.com