Shareholders’ Nomination Board

Shareholders’ Nomination Board

The shareholders of 3North Partners have unanimously resolved to establish a Shareholders’ Nomination Board.

The duties of the Nomination Board include preparing proposals to the Annual General Meeting, and if necessary, to the Extraordinary General Meeting, on the number, election, and remuneration of the members of the Board of Directors. The Nomination Board shall also ensure that the Board of Directors and its members have sufficient expertise, competence, and experience to meet the needs of the company.

The Nomination Board is established to operate until further notice, i.e. until the general meeting decides otherwise. Both the Board of Directors and the Nomination Board may propose to the general meeting that the Nomination Board be disbanded. The term of office of the members of the Nomination Board expires annually upon the appointment of new members of the Nomination Board.

The Nomination Board consists of seven (7) members, of which six (6) represent the company’s six (6) largest shareholders by number of votes. The Chair of the Company’s Board of Directors participates in the Nomination Board’s work and meetings as an expert member without having a right to participate in the decision-making of the Nomination Board.

Each of the six largest shareholders will be entitled to appoint one member to the Nomination Board. The proportion of votes of all shares held by each shareholder is determined based on the shareholders’ register as per the situation on the first banking day of October preceding the Annual General Meeting.