Kuntarahoitus Oyj - Decisions of general meeting

Resolutions by the Annual General Meeting of Municipality Finance Plc held on 23 March 2017

Municipality Finance Plc
Stock exchange release
23 March 2017 at 4:00 p.m. (EET)

Resolutions by the Annual General Meeting of Municipality Finance Plc held on
23 March 2017

The Annual General Meeting of Municipality Finance Plc held on 23 March 2017
adopted the company's financial statements and discharged the members of the
Board of Directors and the CEO from liability for the financial year 2016.

Use of profit shown on the balance sheet

The Annual General Meeting decided that no dividend will be distributed and that
the distributable funds of EUR 61,496,269.28 be retained in equity. The company
needs to continue preparing for tightening own funds requirements by increasing
its Tier 1 capital through profit and loss.

Remuneration and composition of the Board of Directors

The Annual General Meeting decided the following remuneration for the members of
the Board of Directors for the term 2017-2018: annual remuneration of a Board
member EUR 15,000; annual remuneration of the Vice Chairman of the Board EUR
18,000; annual remuneration of the Chairman of the Board EUR 30,000; to the
members, a fee of EUR 500 per Board and committee meeting attended; and to the
chairmen, EUR 800 per meeting attended. The remuneration corresponds with the
remuneration paid for the previous term.

The Annual General Meeting decided that eight members will be elected to the
Board of Directors for the term 2017-2018 and that the following current members
will be re-elected: Mr. Fredrik Forssell, Mr. Tapani Hellstén, Mr. Teppo
Koivisto, Ms. Vivi Marttila, Ms. Tuula Saxholm, and Ms. Helena Walldén. The
Annual General Meeting confirmed the election of Ms. Minna Helppi and Mr. Jari
Koskinen as new members of the Board of Directors.

The CEO's review: Strong results despite changes in operating environment

Pekka Averio, the President and CEO of Municipality Finance, reminded in his
speech that despite the changes in the operating environment the company once
again recorded strong results for 2016 and was very successful in its funding.
This benefits all of the company's customers and shareholders, Mr. Averio said.

Election and remuneration of the Auditor

KPMG Oy Ab, Authorized Public Accountants, was elected as the company's auditor
with Marcus Tötterman, Authorized Public Accountant, as the principal auditor.
The auditor's fees will be paid against the invoices approved by the company.

Amendment of the Articles of Association

The Annual General Meeting decided to amend the company's Articles of
Association by removing the limitation relating to the age of the elected Board
member. The limitation in question does not correspond with the current market
practice, and the Shareholders' Nomination Committee will take into account the
sufficient rotation of the Board members when preparing their annual proposal
for the composition of the Board of Directors.

In addition, the Annual General Meeting decided that the summons to a General
Meeting can be delivered by dispatching an ordinary letter instead of a
registered letter.

Constitutive Meeting of the Board of Directors

At its constitutive meeting, the Board of Directors appointed Helena Walldén as
the Chairwoman and Tapani Hellstén as the Vice Chairman of the Board. The
following persons were appointed to the Remuneration Committee: Helena Walldén
as the Chairwoman, and Tapani Hellstén and Teppo Koivisto as members. The
following persons were appointed to the Audit Committee: Tuula Saxholm as the
Chairwoman, and Jari Koskinen and Vivi Marttila as members. The following
persons were appointed to the Risk Committee: Fredrik Forssell as the Chairman,
and Minna Helppi and Teppo Koivisto as members.

Additional information on the company's operations in 2016 is available in the
company's Annual Report, which can be downloaded in PDF format from the company
website at www.munifin.fi.

MUNICIPALITY FINANCE PLC

Pekka Averio
President and CEO
tel. +358 500 406 856

Measured by the group's balance sheet, Municipality Finance Plc (MuniFin) is
Finland's second largest credit institution. The company is owned by Finnish
municipalities, the public sector pension fund Keva and the Republic of Finland.
MuniFin is an integral part of the Finnish public economy.

MuniFin's balance sheet totals approximately EUR 34 billion. Funding for the
company is primarily obtained through the international capital markets.
MuniFin's funding is guaranteed by the Municipal Guarantee Board.

MuniFin's mission is to ensure competitive funding for local government
investments and state-subsidised social housing production in all market
conditions. The company's customers are Finnish municipalities, municipal
federations, municipally controlled companies and non-profit housing
corporations. The customers use financing solutions provided by MuniFin to
finance social and non-profit targets such as day care centres, schools,
housing, hospitals and other municipal investments.

The Municipality Finance Group also includes the subsidiary company, Financial
Advisory Services Inspira Ltd.


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