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 Chairman and Peter Fagernäs as its Deputy Chairman. The Board elected Jannica Fagerholm as Chairman, Matti Kyytsönen as Deputy Chairman, and Piia Karhu as a member of the Audit Committee, and Esa Kiiskinen as Chairman, Peter Fagernäs as Deputy Chairman, and Matti Kyytsönen as a member of the Remuneration Committee.

After the Annual General Meeting, Kesko Corporation's Board of Directors held an organisational meeting, in which it elected retailer Esa Kiiskinen (Business College Graduate) as Chairman of the Board and Peter Fagernäs (Master of Laws) as Deputy Chairman. Jannica Fagerholm (M.Sc. Econ.) was elected as Chairman of the Board’s Audit Committee, Matti Kyytsönen (M.Sc. Econ.) as Deputy Chairman, and Piia Karhu (Doctor of Science, Economics and Business Administration) as a Committee member. Esa Kiiskinen was elected as Chairman of the Board’s Remuneration Committee, Peter Fagernäs as Deputy Chairman, and Matti Kyytsönen as a Committee member.

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, the K-Retailers’ Association. Of the Board members, Jannica Fagerholm, Peter Fagernäs, Piia Karhu and Matti Kyytsönen are independent also of the Company. Esa Kiiskinen, Matti Naumanen and Toni Pokela are not 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 for listed companies.

The Board elects its Chairman and Deputy Chairman for the Board’s whole three-year term of office, and the Chairmen, Deputy Chairmen and members of the Committees for one year at a time.

Further information is available from Mika Majoinen, EVP, Group General Counsel, tel. +358 105 322 206.

Kesko Corporation

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