Regarding the remuneration proposal for the year 2023, the ordinary annual general meeting took place on April 18, 2023, when the proposal for the global annual compensation of the directors was unanimously approved by the shareholders present, as recorded in the minutes of the 13th AGM of Norte Energia. For the year 2023, there was no participation of compensation consultants in the preparation of the proposal, which followed the provisions of the Compensation Policy.
As for benefits and incentives, the compensation policy adopted by Norte Energia specifies that attraction bonuses or incentive payments do not apply to recruitment. There are no clawback clauses or retirement benefits for senior management. The members of the Fiscal Council also do not have an employment relationship.
The remuneration of the Executive Board is divided into fixed monthly remuneration, (in line with market standards for positions of similar complexity); variable compensation linked to the target plan approved by the Board of Directors, paid in the fiscal year following the assessment of the result; and benefits package.
The main indicators evaluated for directors’ participation in the Company’s profits and results include Ebitda, sustainability goals, among others.
It is important to highlight that the remuneration practices adopted by Norte Energia also follow the criteria and recommendations of the Brazilian Institute of Corporate Governance (IBGC) and the Brazilian Code of Corporate Governance.