The Shareholders’ Nomination Committee’s proposal for the composition and remuneration of Toivo Group Plc’s Board of Directors

Company release, 31 January 2023 at 10:00 a.m.

The Shareholders’ Nomination Committee will propose at the Annual General Meeting of Toivo Group Plc (hereinafter referred to as the “company”) that the number of members of the Board of Directors remains the same at five (5).

The Nomination Committee proposes that Asko Myllymäki, Harri Tahkola, Jonna Toikka, Petri Kärkkäinen and Tomi Koivukoski are reappointed as ordinary members of the company’s Board of Directors.

All candidates have given their consent to the position. Candidate information pertinent to the membership of the Board of Directors is available on the company’s website at sijoittajille.toivo.fi.

Candidates Harri Tahkola, Jonna Toikka and Petri Kärkkäinen are independent of the company and its major shareholders. Asko Myllymäki and Tomi Koivukoski are independent of the company but dependent on its major shareholder.

The Nomination Committee will propose to the Board of Directors’ constitutive meeting taking place after the Annual General Meeting that Asko Myllymäki continue as the Chair of the Board of Directors.

Fees of the members of the Board of Directors

The Shareholders’ Nomination Committee proposes that members of the Board of Directors be paid the following fees:

• Chair and other members of the Board: 1,600 euros per month each

The annual fee for members of the Board is paid as cash.

Composition of the Nomination Committee

The Nomination Committee consists of Asko Myllymäki as the representative appointed by Raatihuone Oy, Urho Myllymäki as the representative appointed by Heuke Oy and Urho Myllymäki, and Tuomas Hemmilä as the representative appointed by M.H. Korporaatio Oy and Tuomas Hemmilä. Tuomas Hemmilä serves as the chairman of the Nomination Committee.

Toivo Group Plc

Further information
Markus Myllymäki
CEO
Toivo Group Plc
Tel. +358 (0)40 847 6206
markus.myllymaki@toivo.fi

Certified Adviser: Danske Bank A/S, Finland branch, +358 (0)50 575 4422

About Toivo
Toivo is a Finnish real estate company that was founded in 2015. Its business consists of project development and long-term ownership of apartments. The Company’s business model is unique as Toivo’s business combines the value chain of real estate business from development and construction to ownership, management and rental of a completed property. Toivo manages the entire life cycle of properties with its own team, from raw land development to tenancy agreement negotiations and property maintenance. This way Toivo is able to generate additional value to its customers, shareholders and stakeholders.

Toivo’s strategy is to develop properties in accordance with the Toivo concept. The properties aim for a strong development margin and a stable and attractive return, and in this way enable long-term ownership and the generation of higher additional value to Toivo’s customers. Toivo has a knowledgeable and experienced team of experts with strong merits in the real estate business. The members of Toivo’s team have been involved in the development and construction of over 17,000 apartments, and they have an average of ten years of experience in the real estate business.

Toivo’s revenue in 2021 was EUR 13.6 million and its operating profit was EUR 15.8 million.