Decisions taken at the annual general meeting of KONE Corporation

The Annual General Meeting of KONE Corporation was held in Helsinki on February 28, 2023. The meeting approved the financial statements, considered the Report on remuneration for governing bodies and released the responsible persons from liability for the financial period from January 1 to December 31, 2022.

The General Meeting approved the dividend as proposed by the Board of Directors in the amount of EUR 1.7475 per Class A share and EUR 1.75 per Class B outstanding shares. The dividend registration date is March 2, 2023 and the dividend will be paid March 9, 2023.

Nine members of the Board of Directors were approved. Matti Alahuhta, Susan Duinhoven, Antti Herlin, Iiris Herlin, Jussi Herlin, Ravi Kant and Krishna Mikkilineni were re-elected as board members. Marika Fredriksson and Marcela Manubens were elected as new members of the Board of Directors.

The General Meeting approved an annual remuneration of EUR 220,000 for the Chairman of the Board, EUR 125,000 for the Deputy Chairman and EUR 110,000 for the members of the Board. Of the annual remuneration, 40 percent will be paid in class B shares of KONE Corporation, and the rest in cash. In addition, the general meeting approved a separate annual remuneration for members of committees of the board of directors: Chairman of the Audit Committee: 20,000 euros and members of the Audit Committee: 10,000 euros and Chairman of the Nomination and Remuneration Committee: 20,000 euros and members of the Nomination and Remuneration Committee: 10,000 euros. The annual remuneration of members of committees of the Board of Directors is paid in cash. In addition, it was decided that compensation is not paid to a board member working in the company.

The audit firm Ernst & Young Oy has been appointed auditor for the 2023 term.

Other decisions of the general meeting

The General Meeting approved the permission of the Board of Directors to buy back KONE’s own shares. In total, no more than 52,930,000 shares can be redeemed, of which no more than 7,620,000 class A shares and 45,310,000 class B shares. The authorization will be valid until the end of the next annual general meeting, but no later than June 30, 2024.

In addition, the General Meeting authorized the Board of Directors to decide on the issuance of shares, as well as the issuance of options and other special rights giving rights to shares referred to in Chapter 10, Section 1 of the Law on Limited Liability Companies. The number of shares to be issued pursuant to this authorization shall not exceed 7,620,000 class A shares and 45,310,000 class B shares. The board of directors decides on all terms of the issue of shares and special rights giving the right to shares. The authorization concerns both the issuance of new shares and the transfer of own shares. The issue of shares and special rights giving the right to shares may be carried out bypassing the pre-emptive right of shareholders (directed emission). The permission will be valid until the end of the next annual general meeting, but no later than June 30, 2024.

The general meeting decided to amend the articles of association by updating the article regarding the direction of the company (2§) and amending the article about the general meeting (10§) so that the general meeting can be held entirely without a meeting. the location of the so-called remote meeting.