2021-12-02 10:00:00 CET

2021-12-02 10:00:14 CET


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Outokumpu Oyj - Other information disclosed according to the rules of the Exchange

Outokumpu – Proposals of the Shareholders’ Nomination Board to the Annual General Meeting 2022


Outokumpu Oyj
Stock exchange release
December 2, 2021 at 11.00 am EET

Outokumpu – Proposals of the Shareholders’ Nomination Board to the Annual
General Meeting 2022

The Shareholders’ Nomination Board of Outokumpu Oyj proposes to the Annual
General Meeting 2022 that the meeting would decide on the number, composition
and remuneration of the Board of Directors as follows:

Number and composition of the Board of Directors

The Shareholders’ Nomination Board proposes that the Board of Directors would
consist of eight (8) members and that of the current members of the Board of
Directors Kari Jordan, Heinz Jörg Fuhrmann, Kati ter Horst, Päivi Luostarinen,
Vesa-Pekka Takala, Pierre Vareille and Julia Woodhouse would be re-elected and
that Petter Söderström would be elected as new member, all for the term of
office ending at the end of the next Annual General Meeting. The Nomination
Board also proposes that Kari Jordan would be re-elected as the Chairman and
Kati ter Horst would be elected as the Vice Chairman of the Board of Directors.

Eeva Sipilä has informed the Shareholders’ Nomination Board that she is no
longer available for re-election to the Board of Directors.

The members of the Board of Directors proposed to be re-elected are independent
of the company and its major shareholders. The new proposed Board member, Petter
Söderström, is independent of the company but not of one of its major
shareholders, Solidium Oy. Further information of the proposed new Board member
can be found in the attachment of this release.

The Nomination Board has considered the composition of the Board of Directors as
to its overall structure as well as the individual members’ versatile and
mutually complementary professional expertise and experience. The Nomination
Board therefore proposes that the Board of Directors is elected as a whole, not
each Board member individually.

Remuneration of the Board of Directors

The Shareholders’ Nomination Board proposes that the annual remuneration of the
Board of Directors would be increased as follows:

  · Chairman: EUR 169,000 (2021: EUR 163,000)
  · Vice Chairman and the Chairman of the Audit Committee: EUR 93,500 (2021: EUR
91,600)
  · Other members of the Board of Directors: EUR 72,500 (2021: EUR 71,100)

40% of the annual remuneration would be paid in the Company’s own shares using
treasury shares or shares to be purchased from the market at a price formed in
public trading and in accordance with the applicable insider regulations. If a
Board member, on the date of the Annual General Meeting, owns shares of the
Company, which based on the closing price of that day represent a value
exceeding the annual remuneration, he or she can opt to receive the remuneration
in cash.

The Shareholders’ Nomination Board proposes that the meeting fees, which would
be paid also for the Board Committee meetings, would be kept at the same level
as during the previous term: EUR 600 per meeting for each member of the Board of
Directors and EUR 1,200 when travelling to a meeting held outside the Board
member’s country of residence. The meeting fees are paid in cash.

The Shareholders’ Nomination Board comprised Antti Mäkinen, Managing Director at
Solidium Oy; Jouko Pölönen, President and CEO at Ilmarinen Mutual Pension
Insurance Company; Pekka Pajamo, CFO at Varma Mutual Pension Insurance Company
and Outi Antila, Director General at The Social Insurance Institution of Finland
as well as Chairman of the Board of Directors Kari Jordan as an expert member.

For more information:

Investors: Linda Häkkilä, Head of Investor Relations, tel. +358 400 719 669

Media: Päivi Allenius, VP – Communications, tel. +358 40 753 7374

Outokumpu Oyj

Outokumpu is the global leader in stainless steel. The foundation of our
business is our ability to tailor stainless steel into any form and for almost
any purpose. Stainless steel is sustainable, durable and designed to last
forever. Our customers use it to create civilization’s basic structures and its
most famous landmarks as well as products for households and various industries.
Outokumpu employs some 9,500 professionals in more than 30 countries, with
headquarters in Helsinki, Finland and shares listed in Nasdaq Helsinki.
www.outokumpu.com