Nomination Board

The Annual General Meeting 4 April 2017 resolved to establish a Shareholders' Nomination Board to prepare future proposals concerning the election and remuneration of the members of the Board of Directors to the General Meetings. The Nomination Board is established for an indefinite period.

The Nomination Board shall consist of four members nominated by the shareholders of the company. In addition, the Chairman of the Board of Directors of the company participates in the work of the Nomination Board as an expert. The right to nominate members shall be vested with the four shareholders of the company having the largest share of the votes represented by all the shares in the company annually on September 1 based on the company's shareholders' register held by Euroclear Finland Ltd. However, if a shareholder who has distributed his/her holdings e.g. into several funds and has an obligation under the Finnish Securities Markets Act to take these holdings into account when disclosing changes in his/her share of ownership makes a written request to such effect to the Chairman of the Board of Directors no later than on August 31, such shareholder's holdings in several funds or registers will be combined when calculating the share of votes which determines the nomination right. Should a shareholder not wish to exercise his/her nomination right, the right shall be transferred to the next largest shareholder who otherwise would not be entitled to nominate a member.

The Chairman of the Board of Directors shall request the four largest shareholders of the company, based on their shareholding on September 1 each year, to nominate one member each to the Nomination Board. The Nomination Board shall elect a Chairman from among its members. The term of office of the members of the Nomination Board expires annually when the new Nomination Board has been appointed.

Pihlajalinna’s four largest shareholders, according to company's shareholders'register held by Euroclear Finland Ltd and dated September 1, 2025, have nominated the following members to the Shareholders' Nomination Board:

• Sari Heinonen, President, appointed by LocalTapiola General Mutual Insurance Company and LocalTapiola Mutual Life Insurance Company

• Hanna Hartikainen, Chief Executive Officer, appointed by Fennia Mutual Insurance Company

• Mikko Wirén, Chief Executive Officer, appointed by MWW Yhtiö Oy

• Carl Pettersson, Chief Executive Officer, appointed by Elo Mutual Pension Insurance Company

In addition, Chair of the Board of Directors Jukka Leinonen will participate in the Nomination Board’s work as an expert.

Charter of the shareholders' nomination board (PDF)