1.17 Board of Directors’ proposal for the distribution of profit

The guiding principle for Fingrid’s dividend policy is to distribute substantially all of the parent company profit as dividends. When making the decision, however, the economic conditions, the company’s near-term investment and development needs as well as any prevailing financial targets of the company are always taken into account.

Fingrid Oyj’s parent company’s profit for the financial year was EUR 148,060,722.84 and distributable funds in the financial statements total EUR 198,985,738.74. Since the close of the financial year, there have been no material changes in the company’s financial position and, in the Board of Directors’ view, the proposed dividend distribution does not compromise the company’s solvency.

The company’s Board of Directors will propose to the Annual General Meeting of Shareholders that, on the basis of the balance sheet adopted for the financial period that ended on 31 December 2019, a dividend of EUR 58,500.00 at maximum per share will be paid for Series A shares and EUR 21,400.00 at maximum for Series B shares, for a total of EUR 148,248,800.00 at maximum. The first dividend instalment of EUR 39,500.00 for each Series A share and EUR 14,450.00 for each Series B share, totalling EUR 100,100,150.00, shall be paid on 25 March 2020. The second dividend instalment, a maximum of EUR 19,100.00 for each Series A share and a maximum of EUR 6,950.00 for each Series B share, totalling EUR 48,148,650.00, shall be paid based on the authorisation hereby given to the Board. The Board of Directors has the right to decide on the payment of the second dividend instalment after the half-year report has been confirmed and after having assessed the company’s solvency, financial position and financial development. The second dividend instalment decided on with the authorisation given to the Board shall be paid on the third banking day after the decision. It will be proposed that the authorisation remain valid until the next Annual General Meeting.