Aspo’s Shareholders’ Nomination Board’s proposals to the Annual Shareholders' meeting

Aspo Plc

Stock exchange release

November 18, 2022 at 09:00 a.m.

Aspo’s Shareholders’ Nomination Board’s proposals to the Annual Shareholders' meeting

The Shareholders’ Nomination Board of Aspo Plc proposes to the Annual Shareholders' Meeting to be held on April 4, 2023, that the Board of Directors will have seven members.

The Nomination Board proposes a change in its rules of procedure. According to the proposal, the members of Aspo's Shareholders' Nomination Board would be elected based on Aspo’s shareholder register as of May 31, whereas earlier the date has been August 31. The Nomination Board considers that this will better support the work of the committee, as the new date will give it more time to prepare proposals.

Members of the Board

The Nomination Board proposes that Patricia Allam, Tapio Kolunsarka, Mikael Laine, Salla Pöyry, Tatu Vehmas and Heikki Westerlund, all current members of the company's Board of Directors, be re-elected as members of the Board, and Kaarina Ståhlberg be elected as a new member of the Board for the term starting at the end of the Annual Shareholders' Meeting 2023.

Since 2016, Kaarina Ståhlberg has been employed by Posti Group as their Senior Vice President, General Counsel and M&A, and a member of Posti Group’s Leadership team since 2017. Previously she has held leadership positions at the legal departments of Nokia and Fortum, among others. Ståhlberg has also been a member of the Board of Directors and the Chair of Audit Committee at Kesko in 2015–2016, and a member of the Board of Directors and the Chair of Audit Committee since 2016.

Consent to the position has been obtained from all the above-mentioned candidates for the Board. The Board elects a Chairman and a Vice Chairman from among its members. The proposed persons have informed the company that if they are elected, they will elect Heikki Westerlund as Chairman of the Board, and Mikael Laine as the Vice Chairman of the Board.

The Nomination Board wishes to thank Aspo’s long-term Board member and Chairman of the Audit Committee Mammu Kaario for her excellent and successful work as she steps down from the Board after the current term.

Remuneration to the members of the Board

The Nomination Board proposes that the compensations of the Board members will be moderately raised and they would be the following going forward (current compensation in brackets):

- EUR 3,000 (2,700) per month for members of the Board of Directors

- EUR 4,400 (4,050) per month, for the Vice Chairman

- EUR 6,000 (5,400) per month, for the Chairman

The Nomination Board proposes that the meeting fees paid to members of the Committees are EUR 800 (700) per meeting and the meeting fee of the Chairmen of the Committees EUR 1,200 (1,050) per meeting. If the Chairman of the Committee is also the Chairman or the Vice Chairman of the Board of Directors, the Nomination Board proposes that the fee paid to the Chairman of the Committee is the same as that paid to members of the Committee. Board members having a full-time position in an Aspo Group company are not paid a fee.

Members of the Nomination Board

The Nomination Board of Aspo Plc’s shareholders consists of the representatives of the four largest shareholders. The following representatives of the largest shareholders were members of the Nomination Board which prepared proposals for the Annual Shareholders' Meeting 2023: Roberto Lencioni, Chairman (Vehmas family, including AEV Capital Holding Oy); Gustav Nyberg (Nyberg family, including Oy Havsudden Ab); Pekka Pajamo, (Varma Mutual Pension Insurance Company); and Annika Ekman (Ilmarinen Mutual Pension Insurance Company). In addition, Heikki Westerlund, Chairman of Aspo Board of Directors, has acted as an expert member of the Nomination Board.

Aspo Plc



Rolf Jansson

CEO



Further information, please contact:

Roberto Lencioni, Chairman of the Nomination Board, tel. 3,



Distribution:

Nasdaq Helsinki

Key Media





Aspo creates value by owning and developing business operations sustainably and in the long term. Our companies aim to be market leaders in their sectors. They are responsible for their own operations, customer relationships and the development of these aiming to be forerunners in sustainability. Aspo supports its businesses profitability and growth with the right capabilities. Aspo Group has businesses in 18 different countries, and it employs a total of approximately 930 professionals.