Purpose and Scope

Lysi’s Equal Pay System is based on the IST85:2012 Standard, in accordance with Article 7 of Act No. 150/2020 on equal pay certification. The purpose and goal of Lysi’s Equality and Equal Pay Policy are to promote gender equality in accordance with the laws on equal status and equal rights, and to adhere to the principle of paying comparable wages for the same or equally valuable work and wage terms are always determined based on the same criteria, ensuring no gender-based wage disparities at Lysi. This document is an integral part of Lysi’s Human Resources Policy and applies to all Lysi's employees.

Policy

Lysi emphasises gender equality and the equal utilisation of all employees’ strengths to maximise the talents and skills of the entire workforce, as documented in this policy. Lysi’s aim is to be a workplace where everyone is valued based on their competence and performance and where everyone has equal opportunities to take responsibility and undertake tasks regardless of gender. Wage decisions are based on the content of the job, workload, qualifications, and labour market trends. Lysi aims to recruit and retain competent employees who engage in constructive communication in the workplace, with equal pay and equality as fundamental principles.

Lysi complies with all applicable laws, regulations, and agreements concerning equality.

Main objectives in equality:

• Ensure the company meets the requirements of laws, regulations, and decrees on equality.

• Incorporate equality considerations into policy-making and major decision-making processes.

• Balance the gender distribution within the company and prevent job roles from being classified as specifically male or female.

• Ensure equal wage terms for all genders for the same or equally valuable jobs.

• Maintain equality in hiring and job transfers.

• Foster a workplace where everyone is valued and respected regardless of gender.

• Ensure equal opportunities for all genders in both job facilities and career development.

• Provide equal access to training and education for all genders.

• Enable employees to balance work and private life.

• Maintain a workplace free from violence and actively combat such issues within the company, including gender-based/sexual violence/harassment or bullying.

Implementation and Review

The Chief Financial Officer (CFO) is the owner of the Equal Pay System. The HR Manager is responsible for the operation of the Equal Pay System, including documentation, implementation, improvements, and execution, ensuring the policy and the Equal Pay System as a whole are maintained, reviewed, and revised. Furthermore, the executive management is responsible for conducting an annual review of the Equal Pay System’s performance and addressing any necessary actions. The HR Manager is responsible for ensuring all review data is available for the annual review.

Managers and employees share responsibility for ensuring gender equality at Lysi. Lysi’s management commits to implementing and maintaining continuous improvements in all aspects of the Equal Pay System.

To achieve the goals of Lysi’s Equality and Equal Pay Policy and secure employees’ rights as stipulated by law, Lysi follows an Equality Plan that is reviewed every three years. Additionally, a process for handling bullying and harassment cases is followed if there is suspicion of bullying, harassment, or violence.