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Proposals by Finnair's Shareholders' Nomination Board to Annual General Meeting

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Finnair Plc         Stock Exchange Release           26 January 2021 at 9.00 a.m. EET 

Number of members of the Board of Directors 

The Shareholders' Nomination Board proposes to the AGM 2021 to be held on 17 March 2021 that the number of members of the Board of Directors would be confirmed as eight.

Composition of the Board of Directors 

The current members of Finnair’s Board of Directors are Tiina Alahuhta-Kasko, Colm Barrington, Montie Brewer, Mengmeng Du, Jukka Erlund, Jouko Karvinen, Henrik Kjellberg, Maija Strandberg and Jaana Tuominen. The Shareholders' Nomination Board proposes to the AGM 2021 that all the current members of the Board of Directors be re-elected exclusive of Mengmeng Du and Jaana Tuominen as they have informed that they will not be available in the election of the Board of Directors in the next Annual General Meeting. The Nomination Board proposes that Hannele Jakosuo-Jansson, Senior Vice President, Human Resources, Safety and Procurement of Neste Plc be elected as a new member of the Board of Directors. Prior to her current position, she has acted as the Senior Vice President, Human Resources of Neste Plc during 2006–2014.

The Shareholders' Nomination Board further proposes that Jouko Karvinen be re-elected as Chairman of the Board. He has been a member of the Board since 2016 and the Chairman since 2017.  

All candidates have given their consent to the position, and all, except Maija Strandberg, are independent of the company and its significant owners. Maija Strandberg is not deemed to be independent of the company’s significant owners as she is a civil servant of the government of Finland. 

The biographical details of Board members proposed for election can be found at Finnair’s company website: investors.finnair.com/en. 

Proposal on Board of Directors’ remuneration

The Nomination Board proposes to the AGM that the annual remunerations of the members of the Board of Directors would remain unchanged, and be the following:

  • Chairperson 52,020 euros
  • Vice Chairperson 27,540 euros
  • Chairpersons of the Audit Committee and Compensation and Nomination Committee 27,540 euros, where these individuals are neither the Chairperson nor the Vice Chairperson of the Board
  • Other members 25,500 euros per year

Each member’s fee for a meeting of the Board of Directors or its Committee is 600 euros when the meeting takes place in the member’s country of residence and 2,400 euros for other meetings. For telephone meetings, the fee is 600 euros.

The members are entitled to reimbursement of reasonable travel and representation expenses in accordance with the company’s general expenses policy.

The members and their spouses are entitled to discounted travel on the company’s flights in accordance with the company’s discount ticket policy regarding the Board of Directors.

Composition of the Shareholders’ Nomination Board  

The members of the Shareholders' Nomination Board are Minna Pajumaa, Senior Financial Counsellor, Government Ownership Steering Department; Timo Sallinen, Head of Listed Securities, Varma Mutual Pension Insurance Company; Esko Torsti, Head of Cross Asset Allocation, Ilmarinen Mutual Pension Insurance Company; and Jouko Karvinen, Chairman of Finnair's Board of Directors. Shareholder representatives’ right to nominate the members was based on the shareholder register dated on 1 September 2020.

The above proposals will be included also in the invitation to the AGM 2021. 

For further information, please contact: 

Minna Pajumaa, Senior Financial Counsellor, Government Ownership Steering Department, tel. +358 2 9516 0147 

FINNAIR PLC

Further information:
Finnair communications, 358 9 818 4020, comms@finnair.com

Distribution:
NASDAQ OMX Helsinki
Principal media

Finnair is a modern premium network airline, specialising in passenger and cargo traffic between Asia and Europe. Helsinki’s geographical location gives Finnair a competitive advantage, since the fastest connections between many European destinations and Asian megacities fly over Finland. Finnair is the only Nordic network carrier with a 4-star Skytrax ranking and a member of the oneworld alliance. In 2019, Finnair’s revenues amounted to EUR 3,098 million and it carried over 14.7 million passengers. Finnair Plc’s shares are quoted on the Nasdaq Helsinki stock exchange.

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