Board of Directors

http://exel_BOD_Kerttula

Reima Kerttula

Chairman

http://exel_BOD_Helsky

Petri Helsky

Member

http://exel_BOD_Nordman_Knutson

Helena Nordman-Knutson

Member

http://exel_BOD_Peussa

Jouko Peussa

Member

http://exel_BOD_Sormunen

Kirsi Sormunen

Member

Born 1955, M.Sc. (Eng.)
Finnish citizen

Chairman of the Board since 2016
Member of the Board since 2009

Holdings: 23,618 Exel Composites shares* (on 30 September 2021)

* Includes shares owned through life insurance

Previous main positions
Amerplast Ltd., COO of the holding company, Managing Director of the operative companies
Senior Vice President, Flexibles, Suominen Corporation
President & CEO, Tamfelt Corporation
President, Metso Fabrics Inc.
Senior Vice President, Paper and Board Business Line, Metso Paper Inc.

Key positions of trust (current)
Member of the Board of Directors and co-owner, Amerplast Ltd.

Independence
Independent of the Company and its major shareholders

Born 1966, M.Sc. (Eng.), M.Sc. (Econ.)
Finnish citizen

CEO of Suominen Corporation
Member of the Board since 2016

Holdings: 8,868 Exel Composites shares (on 30 September 2021)

Previous main positions
CEO, Metsä Tissue
Member of Management Board, Metsä Group
Member of Management Board, Kemira
President, Asia-Pacific Region, Kemira
President, Paper Segment, Kemira

Independence
Independent of the Company and its major shareholders

Born 1964, M.Sc (Pol. Sciences), M.Sc (Econ.)
Finnish citizen

Advisor and Senior Consultant, Safir Communication
Member of the Board since 2017

Holdings: 7,726 Exel Composites shares (on 30 September 2021)

Previous main positions
Executive Director, Partner, Hallvarsson & Halvarsson
Sales Director and Senior Consultant, Springtime
Head of Telecom Research, Pareto Öhman
Head of Telecom Research and partner, Öhman Fondkommission
Head of Telecom Research, SEB

Key positions of trust (current)
Member of the Board, Chairman of the Audit Committee, Alimark Group
Member of the Board, Lexington Group
Member of the Board, SFF Sveriges Finansanalytikers Förening
Member of the Board, Royal Academy of Science
Member of the Board, Nidoco Group

Independence
Independent of the Company and its major shareholders

Born 1957, Licentiate of Technology
Finnish citizen

Member of the Board since 2016

Holdings: 8,868 Exel Composites shares (on 30 September 2021)

Previous main positions
Director, Innovation & Technology, Ingersoll Rand Compression Technologies
Technology Director, Ingersoll Rand Compressed Air Systems and Services
Engineering Director EMEA, Ingersoll Rand Industrial Technologies
Engineering Director ESA, Ingersoll Rand Industrial Technologies

Independence
Independent of the Company and its major shareholders

Born 1957, M.Sc (Econ)
Finnish citizen

Member of the Board since 2020

Holdings: 3,125 Exel Composites shares (on 30 September 2021)

Previous main positions
Head of Nokia Bridge, Vice President, CSR, Nokia
Vice President, Sustainability/CSO, Nokia Oyj
Finance Director/CFO, Nokia Americas
Finance Director, Nokia Telecommunications
Group Treasurer, Nokia

Key positions of trust (current)
Member of the Board of Directors, DNA
Member of the Board, Unicef Finland
Senior Advisor, Directors’ Institute of Finland, DIF
Advisory Board Member, Lappeenranta University of Technology

Independence
Independent of the Company and its major shareholders

Evaluation of Independence

Exel Composites’ Board of Directors has reviewed the independence of Board members in accordance with Recommendation 15 of the Corporate Governance Code.

All Board members, Petri Helsky, Reima Kerttula, Helena Nordman-Knutson, Jouko Peussa and Kirsi Sormunen are independent Board members.

The Board was considered to comply with the Corporate Governance independency rules.