Pihlajalinna (PIHLIS) AGM 2023 summary

Opening remarks and agenda

• AGM held in Tampere on 4 April 2023; shareholders approved the FY2022 financial statements and discharged the Board and CEO from liability for FY2022.

Financial performance review

• FY2022 revenue was €690.5m; the AGM approved the 2022 financial statements and consolidated financial statements.

Board and executive committee updates

• Board expanded from seven to eight members; Heli Iisakka, Hannu Juvonen, Leena Niemistö, Seija Turunen and Mikko Wirén were re-elected; Kim Ignatius, Tiina Kurki and Jukka Leinonen joined.

• Jukka Leinonen was elected Chair and Leena Niemistö Vice Chair; Audit Committee chaired by Seija Turunen and People Committee chaired by Hannu Juvonen.

• Annual Board remuneration through the 2024 AGM set at €60,000 for the Chair, €40,000 for the Vice Chair and committee chairs, and €30,000 for other members; meeting fee €600.

• Approximately 40% of annual Board remuneration is to be paid in shares and the balance in cash, subject to specified exceptions.