Nomination Committee

According to the Code, the Company shall have a nomination committee which duties shall include the preparation and drafting of proposals regarding the election of members of the board of directors, the chairman of the board of directors, the chairman of the general meeting and auditors. The nomination committee shall also propose fees for the board members and the auditors.

At the shareholders’ meeting held on May 14, 2019 it was resolved to establish a nomination committee and to adopt principles for the nomination committee according to which the nomination committee for the annual general meeting 2020 shall comprise of four members representing the three largest shareholders after the end of the third quarter of 2019, together with the chairman of the board of directors. The largest shareholders refer to the registered shareholders or otherwise known shareholders after the end of the third quarter. Before accepting an invitation to join the nomination committee, a member must carefully consider whether there is a conflict of interest.

The nomination committee for the 2020 Annual Shareholders’ meeting will be presented on the IRRAS website, www.irras.com