Honkarakenne Oyj – Stock Exchange Release – Shareholders’ Nomination Committee’s proposals for the composition and remuneration of the Board of Directors

HONKARAKENNE OYJ Stock Exchange Release 4 February 2025 at 09:00

HONKARAKENNE OYJ’S SHAREHOLDERS’ NOMINATION COMMITTEE’S PROPOSALS FOR THE COMPOSITION AND REMUNERATION OF THE BOARD OF DIRECTORS

Honkarakenne Oyj’s Shareholders’ Nomination Committee has submitted its proposals for the Annual General Meeting to Honkarakenne Oyj’s Board of Directors. The Shareholders’ Nomination Committee makes its proposals unanimously. The Annual General Meeting is planned to be held on Friday, 11 April 2025. The company will publish the notice to convene the Annual General Meeting at a later time.

Proposal on Board Composition

Shareholders’ Nomination Committee proposes to the Annual General Meeting that the number of members of the Board of Directors shall be four (today 5).

The Nomination Committee proposes that the current members of the Board of Directors Timo Kohtamäki (Chairman of the Board of Directors), Maria Ristola (Vice-chairman) and Arto Halonen be re-elected and Rose-Mari Saarelainen be elected as a new member of the Board of Directors, for a term ending at the closing of the 2026 Annual General Meeting. Of the current Board member, Antti Tiitola has indicated that he is not available for re-election.

In addition, the Nomination Committee proposes that the board re-elect Timo Kohtamäki as chairman of the board from among its members. The Nomination Committee has not discussed the selection of the vice-chairman.

All persons nominated as members of the Board of Directors have given their consent to the election. All the nominees are independent of the company, but Maria Ristola and Rose-Mari Saarelainen are dependent on the company's significant shareholders.

CVs, photographs and the evaluation regarding the independence of the current members of the Board of Directors are presented on the company’s investors website at (https://sijoittajat.honka.fi/en/investors/corporate_governance/board_of_directors). Presentations of the proposed new member of the Board of Directors Rose-Mari Saarelainen is attached to this stock exchange release.

Remuneration of the members of the Board of Directors

The Shareholders’ Nomination Committee proposes that the monthly remuneration for the Board of Directors remain unchanged, so that the Chairman of the Board of Directors be paid as remuneration EUR 3,500 per month and each member of the Board of Directors EUR 2,000 per month. If the Board of Directors establishes committees from among its members, committee members be paid EUR 500 per committee meeting. The Nomination Committee further proposes that members’ travel and accommodation expenses be reimbursed against a receipt.