Decisions of the organisational meeting of Kesko Corporation’s Board of Directors

In its organisational meeting held after the Annual General Meeting, the Board of Directors of Kesko Corporation elected Esa Kiiskinen as its Chair and Peter Fagernäs as its Deputy Chair. The Board also elected members for its Audit Committee and Remuneration Committee.

The Board elected Jannica Fagerholm as Chair, Timo Ritakallio as Deputy Chair, and Piia Karhu as a member of the Audit Committee, and Esa Kiiskinen as Chair, Peter Fagernäs as Deputy Chair, and Timo Ritakallio as a member of the Remuneration Committee.

Based on the Board's independence evaluation, all Board members apart from Toni Pokela are independent of the company's significant shareholders. Pokela is the Chairman of the Board of Kesko's significant shareholder K-Retailers’ Association. Of the Board members, Jannica Fagerholm, Peter Fagernäs, Piia Karhu and Timo Ritakallio are independent also of the company. Esa Kiiskinen, Jussi Perälä and Toni Pokela are not considered independent of the company, as they each control a company that has a chain agreement with Kesko.

The Committee compositions meet the independence requirements of the Finnish Corporate Governance Code.

The Board elects its Chair, Deputy Chair, and the Chairs, Deputy Chairs and members of the Committees for the Board’s whole three-year term of office.

Further information is available from Lasse Luukkainen, Group General Counsel, tel. +358 105 322 818.

Kesko Corporation

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