Proposals by the Shareholders' Nomination Board to Lamor Corporation Oyj’s Annual General Meeting 2025

The Shareholders’ Nomination Board of Lamor Corporation Oyj proposes to the Annual General Meeting 2025 that the meeting would decide on the composition and remuneration of the Board of Directors as follows:

Board composition

The Nomination Board proposes that the number of the members of the Board of Directors to be confirmed at five (5), and that Nina Ehrnrooth, Fred Larsen, Kaisa Lipponen, Timo Rantanen and Mika Ståhlberg to be re-elected as Board members for a term commencing at the end of the Annual General Meeting 2025 and ending at the end of the next Annual General Meeting. The proposed Board members have consented to their respective appointment.

Should one or more of the candidates proposed by the Nomination Board not be available for election to the Board of Directors for any reason, the proposed number of the members of the Board of Directors shall be decreased accordingly, and the Nomination Board proposes that the remaining available candidates are elected in accordance with the proposal by the Nomination Board.

As regards the election procedure for the members of the Board of Directors, the Shareholders’ Nomination Board recommends that shareholders take a position on the proposal as a whole, to ensure that the proposed Board of Directors has the best possible expertise and experience.

All candidates proposed to be re-elected are independent of the company and its significant shareholders, except for Fred Larsen. Further information on the proposed Board Members is provided on Lamor's website at https://www.lamor.com/investors/governance/board-of-directors.

Board remuneration

The Nomination Board proposes that the remuneration to the Board members for the coming term 2025 would remain unchanged, and be as follows (previous term’s remuneration in brackets):

Annual fees

Board members will be paid the following fixed annual fees:

• for the Chair of the Board EUR 50,000 (50,000)
• for the potential Vice Chair of the Board EUR 45,000 (45,000)
• for a Board Member EUR 20,000 (20,000) 

It is recommended that a member of the Board of Directors acquires shares in the company at the price paid in public trading with 40 per cent of her/his gross fixed annual fee until the value of the shares in the company owned by the respective member of the Board of Directors equals to two times her/his gross fixed annual fee.

Committee fees

In addition to the fixed annual Board fees mentioned above, fixed annual fees for committee work will be paid as follows:

Audit Committee

• for the Chair EUR 10,000 (10,000)
• for a Member EUR 5,000 (5,000)

Remuneration Committee

• for the Chair EUR 5,000 (5,000)
• for a Member EUR 2,500 (2,500)

If the Chair of the Audit Committee or the Chair of the Remuneration Committee acts as the Chair or as the Vice Chair of the Board of Directors, no remuneration related to the committee work shall be paid.

Meeting fees

In addition to the fixed annual fees mentioned above, the following meeting fees will be paid for participation in the Board meetings:

• EUR 1,000 (1,000) meeting fee per meeting shall be paid to all Board members and the Chairman of the Board of Directors
• No separate meeting fee shall be paid for Committee meetings

Travel expenses

In addition, reasonable accrued travel expenses and other potential costs related to Board and Committee work will be reimbursed in line with the company’s normal practice.

Composition of the Shareholders’ Nomination Board

The members of the Shareholders’ Nomination Board are as follows: Fred Larsen, Chairman of the Board of Directors, Larsen Family Corporation Oy (Chairman), Juuso Puolanne, Investment Director, Finnish Industry Investment Ltd, Annika Ekman, Head of Listed Equities, Ilmarinen Mutual Pension Insurance Company and Mika Ståhlberg, Chairman of the Board of Directors, Lamor Corporation Oyj.

The proposals of the Nomination Board will be included in the notice to convene the Annual General Meeting.

Further enquiries

Fred Larsen, Chair of the Lamor Shareholders’ Nomination Board, tel. +358 400 906 311

Media enquiries: Lamor IR, tel +358 44 373 4693