Board members' independence

The Board evaluates the independence of its members on a regular basis in accordance with Recommendation 10 of the Finnish Corporate Governance Code. A Board member is obliged to provide the Board with necessary information for the evaluation of independence.

All members of Kesko's Board of Directors are non-executive directors.

The Board carried out an independence evaluation in its organisational meeting held after the General Meeting of 12 April 2021 and in meetings 28 April 2022 and 27 April 2023. Based on the independence evaluations, the Board deemed that the majority of the Board members are independent of Kesko. 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. All Board members apart from Toni Pokela are considered independent of Kesko's significant shareholders. Pokela is the Chairman of the Board of Kesko's significant shareholder K-Retailers' Association. The Board and Committee compositions meet the independence requirements of the Corporate Governance Code.

Board members' independence as of 12 April 2021