The Annual General Meeting on March 30, 2023 decided to establish a permanent shareholders? nomination board to prepare the election and remuneration of the Board of Directors of Raute Oyj (the ?Nomination Board?) and to confirm the charter for the Nomination Board. According to the charter of the Nomination Board, the Chairperson of the Board of Directors has requested the three -larger shareholders in accordance with the situation on the last business day of June 2023 to appoint a member to the Nomination Board.

The third, the fourth and the fifth larger shareholders have withdrawn from right to nominate a member to the Nomination Board. The following members have been appointed to Raute Corporation?s Shareholders' Nomination Board: Pekka Suominen (directly and indirectly by proxies), Göran Sundholm, Kustaa Poutiainen (appointed by Stephen Industries Inc.), Laura Raitio, the Chair of the Board of Directors of Raute, serves as an expert in the Nomination Board without being a member. The term of the members of the first Nomination Board ends upon the appointment of new members of the Nomination Board in 2024.