Exel Composites Plc’s Disclosure Policy

First approved by the Board of Directors on 25 October 2011. Latest update approved on 10 June 2016.

The duties of Exel Composites Plc’s corporate bodies are determined and defined based on the Finnish Companies Act, the Finnish Securities Markets Act as well as other relevant Finnish and EU legislation, such as the Market Abuse Regulation ((EU) N:o 596/2014, ”MAR”).

This Disclosure Policy, which is approved by Exel Composites’ Board of Directors, describes Exel Composites’ general guidelines for disclosing information to the company’s stakeholders and communicating with the capital markets. Furthermore, it defines the responsibilities in matters relating to information disclosure and investor relations.

This disclosure policy is distributed to all company units globally. It aims to ensure a broad understanding of the company’s information disclosure obligations and limitations under the Finnish Securities Markets Act, the Finnish Companies Act, the standards of the Finnish Financial Supervision Authority, the rules of the Nasdaq Helsinki Ltd as well as other applicable regulations for public listed companies.

Communications principles and goals

Exel Composites is committed to active and transparent communications and to providing its stakeholders with sufficient, accurate and consistent information in a timely manner. The objective is to help various actors of the capital markets to be able to form a true and fair picture of the company’s financial situation and future prospects, and to support correct valuation of the company’s shares. The commitment is evenly fulfilled irrespective of whether the information is positive or negative for the company. All material information is disclosed to recipients equally in terms of content and timing.

Exel Composites’ website (www.exelcomposites.com) is the main channel for up-to-date information. The company discloses in the form of a stock exchange release all decisions, matters and events that may have a material impact on the value of the company’s share. The company may also publish investor information using a press release. All published releases shall be made immediately available on the company’s website.

Exel Composites discloses information about its financial situation according to a preannounced schedule. The publication dates for the upcoming financial period are announced prior to the close of the financial period. As a principal rule, information about the financial situation, outlook, profitability development or other similar issues is given in business reviews and half-yearly reports. If new and relevant information related to these issues is given in between publication of the above mentioned reviews or reports, it is always published as a stock exchange release.

Financial reports

Exel Composites provides information on its strategy, financial targets and performance on a in connection with the disclosure of the company’s financial statements, business reviews and half-yearly reports or as needed as a separate stock exchange release. All reviews, reports, financial statements and the financial reporting schedule for each year are published on the company’s website at www.exelcomposites.com in the Investor section. All announcements are posted and archived, as minimum, for a period of five years.

Exel Composites’ public reporting is made on Group level only. No figures or calculations of figures are published regarding production units or any legal entities other than Exel Composites.

Annual financial report is published each year no later than three weeks before the Annual General Meeting. The annual report is published in English and Finnish on the company’s website.

Exel Composites discloses business reviews for the periods ending 31 March and 30 September, a half-yearly report for the period ending 30 June, and a financial statements bulletin for the period ending 31 December.

Financial targets and guidance

In conjunction with the strategy process, Exel Composites’ Board of Directors assesses the need to revise the financial targets. Changes in financial targets are published in a stock exchange release.

Exel Composites gives guidance in the form of an official outlook statement published in business reviews and half-yearly reports. Exel Composites will provide outlook statements only for a period for which the company has reasonable visibility. No other forward-looking statements or answers to questions concerning the future performance are given unless the company decides to update the guidance and publish a stock exchange release regarding the update.

Silent period

Exel Composites observes a  silent period of 30 calendar days before the publication of financial statements, business reviews and half-yearly reports. During the silent period, the top management does not meet with the representatives of capital markets or financial media, nor does it comment on issues related to the company’s financial situation or general outlook.

Spokespersons

Only certain authorized persons are entitled to give public statements regarding Exel Composites’ business. The CEO, CFO and Investor Relations Manager have the right to speak on behalf of Exel Composites on all matters including the Group strategy, finances, market development and demand, major strategic initiatives and corporate views.

Rumors, market speculations and leaks

Exel Composites does not comment on any market rumors or media speculations, share price development, actions of competitors or customers, or analyst estimates unless considered necessary to correct relevant and clearly incorrect information that may materially affect the share value. Analyst reports can only be commented in order to correct factual errors. Analyst opinions and conclusions such as recommendations are not discussed. However, in the event that price-sensitive or inside information is leaked, the company discloses that information to the public as soon as possible in the way material information is normally disclosed.

Exel Oyj, Vantaa head office, Mäkituvantie 5, FI-01510 Vantaa, Finland, Tel +358 20 7541 200, Fax +358 20 7541 201