The Nomination and Remuneration Committee

The Nomination and Remuneration Committee shall ensure that the Remuneration Policy proposed is based on the short- and long-term objectives of AS Tallinna Vesi, taking account of the financial performance of AS Tallinna Vesi and the legitimate interests of investors.

The Nomination and Remuneration Committee shall ensure that the proportion of the fixed salary and the performance-related pay (PRP) are in accordance with the duties of a Management Board member and that the fixed salary represents a sufficiently high proportion of the total remuneration.

According to the current PRP principles, the members of the Management Board are entitled to a PRP that shall not exceed 25% of their annual fixed gross salary. The PRP depends on the annual financial and operational performance of the Company, 80% of the PRP is related to the Company’s objectives and 20% of the PRP is related to the individual objectives of a Management Board member. The objectives and their proportion are reviewed and approved by the Remuneration and Nomination Committee. If the annual results are lower than expected, a decision can be taken not to pay any PRP.

The Nomination and Remuneration Committee consists of the following members of the Supervisory Board:

• Priit Koit
• Priit Lello
• Priit Rohumaa