Proposals of Harvia Plc’s Shareholders’ Nomination Board to the Annual General Meeting 2026

Core Viewpoint - The Shareholders' Nomination Board of Harvia Plc has proposed the composition and remuneration of the Board of Directors for the upcoming Annual General Meeting scheduled for April 15, 2026, including the re-election of current members and the election of a new member, Martin Richter [1][2][3]. Board Composition - The Nomination Board proposes that the number of members of the Board of Directors shall be seven [1]. - Current members Catharina Stackelberg-Hammarén, Petri Castrén, Anders Holmén, Hille Korhonen, Markus Lengauer, and Olli Liitola are recommended for re-election [2]. - Heiner Olbrich will not be available for re-election, and Martin Richter is proposed as a new member [3]. New Member Profile - Martin Richter, born in 1976, is currently the Country Manager and CEO at Peloton Interactive and has held various positions at Spotify, Zalando, Henkel, and Coca-Cola [4]. - He holds a Master's degree in Economics and Social Sciences and an MBA from the University of Lüneburg, bringing over 20 years of international experience in consumer businesses [5]. Board Independence and Expertise - All proposed members have consented to their appointments and are independent of the company and major shareholders [6]. - The Nomination Board believes the proposed Board has the necessary expertise and competence to meet the company's strategic objectives [8][9]. Gender Representation - The proposed Board composition includes only two women, which deviates from the Corporate Governance Code's recommendation for a minimum of three women on a seven-member Board [10]. Remuneration Structure - The proposed remuneration for the Chair of the Board is EUR 5,500 per month, for the Deputy Chair EUR 4,000, and for other members EUR 3,500 [13]. - Committee chairs will receive EUR 1,400 per meeting, while other committee members will receive EUR 900 per meeting [14]. - The remuneration will be paid 40% in company shares and 60% in cash, with specific conditions for share transfers [16][17]. Travel and Meeting Fees - Members residing outside Finland will receive a separate meeting fee of EUR 900 for attending meetings in person [18]. - Travel expenses will be compensated according to the company's travel policy [19]. Nomination Board Composition - The Nomination Board is chaired by Josefin Degerholm, with other members from various financial institutions [20]. - The proposals made by the Nomination Board were unanimous and will be included in the notice for the 2026 Annual General Meeting [21]. Company Overview - Harvia is a leading company in the global sauna and spa market, with a revenue of EUR 175.2 million in 2024 and approximately 700 employees across multiple countries [22][23].