Tieto (TIETO) AGM 2021 summary

Opening remarks and agenda

• AGM held in Espoo on 25 March 2021; in-person attendance was restricted to prevent COVID-19 spread, with 321 shareholders representing 70,388,307 shares and votes.

• A webcast Q&A session followed the meeting, allowing stakeholders to submit questions to management.

Financial performance review

• FY2020 financial statements approved, and officers discharged from liability for FY2020.

Board and executive committee updates

• Board set at 11 members; Angela Mazza Teufer elected, current members re-elected, and Tomas Franzén re-elected Chair.

• Four personnel-elected Board members and their deputies appointed until AGM 2022.

• Annual Board fees set at EUR 125,000 for the Chair, EUR 70,000 for the Deputy Chair and EUR 53,000 for ordinary members; committee fees and meeting fees also approved.

• Board members may elect to receive annual remuneration in cash, shares, or a combination; shares planned for purchase within two weeks after the 1 Jan–31 Mar 2021 interim report, subject to restrictions. Employee representatives receive cash only.