DECISIONS OF CLEANTECH INVEST PLC’S EXTRAORDINARY GENERAL MEETING

Releases

The Extraordinary General Meeting of Cleantech Invest Plc was held on 9 March 2016 in Helsinki. A total of 21 shareholders, 1.778.513 series A shares, 4.434.891 series K shares and 90.476.333 votes were represented in the meeting.

The Extraordinary General Meeting resolved on the following issues:

Authorizing the Board of Directors to decide on issuance of shares

The Extraordinary General Meeting authorized the Board of Directors to decide, in one or more transactions, on the issuance of class A shares as follows:

The number of class A shares to be issued based on the authorization may in total amount to a maximum of 7,900,000 shares.

The Board of Directors decides on all the terms and conditions of the issuances of shares. The authorization concerns both the issuance of new shares as well as transfer of treasury shares. The issuance of shares may be carried out in deviation from the shareholders’ pre-emptive rights (directed issue), if there is a weighty financial reason for the company, including but not limited to using the shares as consideration in future acquisitions or other business arrangements or financing investments.

The authorization cancels the authorization granted by the Annual General Meeting on 20 April 2015 to decide on the issuance of shares. The authorization is valid until 30 June 2017.

Authorizing the Board of Directors to decide on issuance of options

The Extraordinary General Meeting authorized the Board of Directors to decide, in one or more transactions, on the issuance of options as follows:

The number of new class A shares that can be subscribed to based on the options that can be issued on basis of the authorization may in total amount to a maximum of 1,000,000 shares.

The options may be issued to the key personnel, including potentially members of the Board of Directors of the company, and advisors as part of the company's incentive scheme to be established by the Board of Directors. The options shall be divided into three equal-size tranches A, B and C:

-        Tranche A: Share subscription period shall be 1 July 2016 – 31 December 2025 and the original subscription price EUR 1.00. However, the share subscription period for tranche A shall not begin prior to the trade volume weighted average quotation of the company’s class A share on First North Finland has been not less than EUR 1.75 during four (4) consecutive weeks.

-        Tranche B: Share subscription period shall be 1 July 2017 – 31 December 2025 and the original subscription price EUR 1.00. However, the share subscription period for tranche B shall not begin prior to the trade volume weighted average quotation of the company’s class A share on First North Finland has been not less than EUR 2.25 during four (4) consecutive weeks.

-        Tranche C: Share subscription period shall be 1 July 2018 – 31 December 2025 and the original subscription price EUR 1.00. However, the share subscription period for tranche C shall not begin prior to the trade volume weighted average quotation of the company’s class A share on First North Finland has been not less than EUR 3.00 during four (4) consecutive weeks.

The original share subscription price for the options is determined based on the trade volume weighted average quotation of the company’s class A share on First North Finland during 3.12.2015 – 9.2.2016 with a discount of 10 per cent.

The Board of Directors resolves the persons receiving the options and all other terms and conditions of the options. However, the General Meeting resolves on granting of options to members of the Board of Directors should the options be remuneration for membership in the Board of Directors. For the avoidance of doubt, the Board of Directors may resolve on granting of options to members of the Board of Directors who are also working for the company in operative role, if the options are granted based on their operative role in the company.

The Board of Directors shall not issue options based on the authorization to persons who are directly or indirectly major shareholders of Cleantech Invest Plc. until majority of the members of the Board of Directors are independent of Cleantech Invest Plc. and its major shareholders.

The authorization cancels the authorization granted by the Annual General Meeting on 20 April 2015 to decide on the issuance of options and other special rights entitling to shares. The authorization is valid until 30 June 2017.

CLEANTECH INVEST PLC

Board of Directors

Cleantech Invest in brief:

Cleantech Invest focuses on clean energy and efficient use of natural resources. The company has minority ownerships in a diversified portfolio of companies and is actively looking for new capital light and high impact businesses within the cleantech universe. Cleantech Invest invests in the most promising early-stage and growth cleantech companies in Finland, Sweden and in the Baltic Sea area. The company management team members are international pioneers in cleantech investing. Cleantech Invest is also a designated Accelerator in the Vigo Program initiated by the Ministry of Employment and the Economy. www.cleantechinvest.com.

For more information:

Alexander Lidgren, Managing Director of Cleantech Invest Plc. Tel. 46 73 660 1007, alexander.lidgren@cleantechinvest.com

Access Partners Oy, Certified Advisor. Tel. 358 9 682 9500

Release: