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.

Composition of the Shareholders’ Nomination Committee

The Shareholders’ Nomination committee comprises representatives of the Company’s four largest shareholders based on the ownership situation on 31 August 2024. The members of the Nomination Committee are Julius Pihlaja (Saarelainen Oy), Arimo Ristola (Akr-invest Oy), Marko Saarelainen ja Josefin Degerholm (Nordea Nordic Small Cap Fund).

Timo Kohtamäki, chairman of the board of Honkarakenne Oyj, served as an expert member of the Nomination Committee. He did not participate in the Nomination Committee's decision-making when the Nomination Committee decided on its proposal for board members, discussed the board's remuneration or made a proposal for the chairman of the board.

HONKARAKENNE OYJ

The Board of Directors

Further information:
Timo Kohtamäki, Chairman of the Board of Directors, tel. + 358 40 585 3113
Marko Saarelainen, President and CEO, tel. +358 40 542 0254, marko.saarelainen@honka.com

JAKELU
NASDAQ OMX Helsinki Oy
Finanssivalvonta
www.honka.com

Honkarakenne Oyj manufactures high-quality, healthy and ecological log homes, holiday homes and public buildings under its Honka® brand from Finnish solid wood. The company has delivered 90,000 buildings to over 50 countries. House kits are manufactured in Finland, the company's own factory is located in Karstula. In 2023, Honkarakenne Group's net sales were EUR 46.3 million, of which exports accounted for 31%. www.honka.com