GTT : COMPENSATION OF THE CHAIRMAN AND CEO

GTT
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COMPENSATION OF THE CHAIRMAN AND CEO

Saint-Rémy-lès-Chevreuse, 23 April 2021 - At its meetings on February 18 and April 13, 2021, the Board of Directors of GTT, on the recommendation of the Compensation and Appointment Committee, set the annual variable compensation of the Chief Executive Officer payable in respect of 2020, as well as all elements of compensation for 2021.

1. Variable compensation for 2020 (STI)

As a reminder, the target variable compensation for 2020 is set at 333,000 euros, i.e. 83.25% of the fixed annual compensation for 2020 and may reach 400,000 euros in the event of outperformance.

This compensation is subject to the achievement of quantitative criteria measuring the Group's financial and non-financial performance, as well as qualitative criteria.

The Board of Directors' meetings of February 18 and April 13, 2021 noted that the level of achievement of the performance criteria was 84.5% and set the amount of variable compensation for 2020 at 281,385 euros.

Pursuant to Article L.22-10-34 II of the French Commercial Code, the payment of this annual variable compensation is subject to approval of the resolution relating to compensation paid or awarded in respect of fiscal year 2020, which will be submitted to the vote of the shareholders at the Annual General Meeting to be held on May 27, 2021.

2. Compensation policy for 2021

Fixed compensation: the compensation remains unchanged from 2020 and therefore amounts to 400,000 euros.

Variable compensation: the target variable compensation remains unchanged compared with 2020. It amounts to 333,000 euros and may reach 400,000 euros in case of outperformance.

The payment of this variable compensation is conditional on the achievement of quantitative criteria (76%), based on the measurement of the Group's performance through the application of (i) an EBITDA target, (ii) a target for the Group's market share in its core business activities (iii) a revenue target in the digital services activities, and (iv) a CSR target linked to the orders in the LNG fuel segment and of qualitative criteria (24%), in connection with the initiatives taken with regard to the evolution of the Group's business model and the social and environmental areas.

Long-term compensation: the 2021 compensation policy provides for the possibility of granting shares subject to performance conditions measuring internal performance, CSR performance and stock market performance.

All the terms of the 2021 compensation policy will be described in detail in the universal registration document.

Pursuant to Article L 22-10-8-II of the French Commercial Code, the 2021 the compensation policy will be the subject of a draft resolution to be submitted to the Annual General Meeting of Shareholders on May 27.

This information has been prepared and posted on the GTT website, in accordance with the provisions of the AFEP-MEDEF Corporate Governance Code.

Financial agenda

  • General Meeting of Shareholders: 27 May 2021

  • Publication of the 2021 half-year results: 28 July 2021 (after the close of trading)

  • 2021 third-quarter results: 28 October 2021 (after the close of trading)

Investor Relations Contact

information-financiere@gtt.fr / +33 1 30 23 20 87

Press Contact

press@gtt.fr / + 33 1 30 23 80 80

For further information, please consult www.gtt.fr/en

About GTT

GTT is the technological expert in membrane containment systems dedicated to the transport and storage of liquefied gases. For over 50 years, GTT has been designing and marketing advanced technologies for improved energy performance. GTT technologies combine operational efficiency and safety to equip LNG carriers, floating terminals, onshore storage tanks and multi-gas carriers. The Group also offers systems for the use of LNG as fuel, as well as a wide range of services, including digital solutions in the field of Smart Shipping. GTT also operates in the hydrogen sector through its subsidiary Elogen, which designs and assembles electrolysers for the production of green hydrogen.

GTT is listed on Euronext Paris, Compartment A (ISIN FR0011726835, Euronext Paris: GTT) and is notably included in the SBF 120 and MSCI Small Cap indexes.

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