Authorisations to the Board of Directors

The Annual General Meeting on 12 April 2018 gave the Board of Directors authorisations to decide on a share issue and issues of option rights and other special rights entitling to shares, and on the purchase of the Company's own Series A shares and/or on the acceptance the Company's own Series A shares as pledge. The authorisations are effective until 30 June 2019 and revoke authorisations given by the Annual General Meeting 2017 to the Board of Directors.

The AGM gave the following two authorisations to the Board:

(1) The Board of Directors was authorised to decide on a share issue as well as issue of option rights and other special rights entitling to shares, pursuant to Chapter 10 of the Companies Act as follows:

The shares issued under the authorisation are new or those in the company’s possession Series A shares of the Company. Under the authorisation, a maximum of 2,500,000 Series A shares, which corresponds to approximately 4.50 per cent of all of the shares in the Company and approximately 5.00 per cent of all the Series A shares in the Company, can be issued. The shares, option rights or other special rights entitling to shares can be issued in one or more tranches.

Under the authorisation, the Board of Directors may resolve upon issuing new Series A shares to the Company itself without consideration. However, the Company, together with its subsidiaries, cannot at any time own more than 10 per cent of all its registered shares.

The Board of Directors is authorised to resolve on all terms for the share issue and granting of the special rights entitling to shares. The Board of Directors is authorised to resolve on a directed share issue and issue of the special rights entitling to shares in deviation from the shareholders’ pre-emptive right. A directed share issue always requires a weighty economic reason for the Company and the authorisation may not be utilised inconsistently with the principle of equal treatment of shareholders.

The authorisation to issue new shares, option rights as well as other special rights entitling to shares was resolved in order to enable the Board of Directors to decide flexibly on capital markets transactions that are beneficial for the Company, such as securing the financing needs of the Company or implementing acquisitions. In addition, the authorisation may be used in order to implement share based incentive arrangements and payment of the share based remuneration directed to the management of the company and the Group companies.

The authorisation shall be effective until 30 June 2019, and it revokes the authorisation granted on 6 April 2017 by the Annual General Meeting to the Board of Directors to resolve on an issue of shares, option rights as well as other special rights entitling to shares.

(2) The Board of Directors was authorised to decide on the purchase of the Company's own Series A shares and/or on the acceptance the Company's own Series A shares as pledge as follows:

The aggregate number of own Series A shares to be acquired and/or accepted as pledge shall not exceed 2,500,000 Series A shares in total, which corresponds to approximately 4.50 per cent of all of the shares in the Company and approximately 5.00 per cent of all the Series A shares in the Company. However, the Company together with its subsidiaries cannot at any moment own and/or hold as pledge more than 10 per cent of all the shares in the Company.

The Company’s own Series A shares may be purchased on the basis of the authorisation only by using non-restricted equity which consequently reduces the amount of the funds available for distribution of profits. The Company’s own Series A shares may be purchased for a price quoted in public trading on the purchase day or for a price otherwise determined by the market.

The Board of Directors shall resolve upon the method of purchase. Among other means, derivatives may be utilised in purchasing the shares. The shares may be purchased in a proportion other than that of the shares held by the shareholders (directed purchase). A directed purchase of the Company’s own shares always requires a weighty economic reason for the Company and the authorisation may not be utilised inconsistently with the principle of equal treatment of shareholders.

The authorisation is effective until 30 June 2019. It revokes that granted on 6 April 2017 by the Annual General Meeting to the Board of Directors to acquire and/or to accept as pledge the company’s own Series A shares.