Compositions of Kesko Corporation Board Committees

KESKO CORPORATION STOCK EXCHANGE RELEASE 04.04.2016 AT 16.35 1(1)

Compositions of Kesko Corporation Board Committees

The organisational meeting of Kesko Corporation's Board of Directors, held after the Annual General Meeting, elected Jannica Fagerholm as the Chair of the Audit Committee. In other respects, the compositions of Kesko's Audit Committee and Remuneration Committee remained unchanged.

After the Annual General Meeting, Kesko Corporation's Board of Directors held an organisational meeting in which it elected M.Sc. (Econ.) Jannica Fagerholm as the Chair of the Audit Committee, re-elected eMBA Mikael Aro as its Deputy Chair and M.Sc. (Econ.) Matti Kyytsönen as its member. Business College Graduate Esa Kiiskinen (Ch.), Mikael Aro (Dep. Ch.) and M.Sc. (Econ.) Anu Nissinen were re-elected to the Board's Remuneration Committee.

Based on the Board's independence evaluation, all Board members, except for Matti Naumanen, are independent of the Company's significant shareholders. Naumanen is a member of the Board of the Company's significant shareholder, the K-Retailers' Association. All Board members, except for Esa Kiiskinen, Matti Naumanen and Toni Pokela, are also independent of the Company. Each of the companies controlled by Kiiskinen, Naumanen and Pokela has a chain agreement with a Kesko Group company.

The Committees' compositions fulfil the independence requirements referred to in the Finnish Corporate Governance Code for listed companies.

The Board elects the Board Chair and the Deputy Chair for the whole three-year term of office of Board members, and the Committee Chairs, Deputy Chairs and members for one year at a time.

Further information is available from Corporate Secretary, Director Mika Majoinen, telephone +358 105 322 206.

Kesko Corporation

Harri Utoslahti
Communications Manager

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