Corporate Governance

Privanet Group Plc is a Finnish public company that abides by the Limited Liability Companies Act, Act on Investment Services, Securities Markets Act, its articles of incorporation, the First North Nordic Rulebook, and other applicable laws and regulations in its management and decision-making. The general meeting, the Board, and the CEO are responsible for the Company’s management and operations. The Company does not apply the corporate governance code of listed companies to its operations.

General Meeting

The topmost organ of Privanet Group Plc is the general meeting, where shareholders have a chance to use their authority and voting rights in matters concerning the Company. A general meeting must be arranged within six months of the end of the Company’s financial period. The general meeting must discuss at least the following topics: confirming the financial statement, using the profit indicated in the balance sheet, discharging the Board of Directors and the CEO from liability, and selecting the Board and accountants.

Board of Directors

The Board of Directors of Privanet Group Plc has an overall responsibility for managing the Company and its subsidiaries and properly organizing the Company’s operations. The Board ensures that the supervision of the Company’s accounting and financial management is organized properly. The Board confirms the principles concerning the Company’s strategy, organization, accounting, and internal supervision and risk management, and appoints and oversees the CEO of the Company.

According to the articles of incorporation, the Board must have at least three (3) and at most seven (7) actual members and at least one (1) deputy member in case less than three (3) actual members are selected.

CEO

The CEO is responsible for managing the daily business operations of the Company based on the instructions and orders issued by the Board. The CEO is assisted by a management group that has no authority ascribed by law or the articles of incorporation.