Election and Terms of Office of Board Members

According to Sampo's Articles of Association, the company's Board of Directors comprises no fewer than three and no more than ten members elected by shareholders at the Annual General Meeting ("AGM").

On 11 February 2015 Sampo plc’s Board of Directors approved a Policy on Diversity as regards the Board of Directors of Sampo. According to the Policy, when electing the Board of Directors the aim is to ensure that the Board as a whole for the purpose of its work possesses the requisite knowledge of and expertise in the social, business and cultural conditions of the regions and markets in which the main activities of the Group are carried out. In addition the diversity, including age, gender, geographical provenance and educational and professional background, is an important factor to take into consideration. According to the Policy on Diversity it is also important that the person to be elected to the Board shall have the qualifications required for the duties and the possibility to devote a sufficient amount of time to the work.

According to the Policy on Diversity, Sampo’s Nomination and Compensation Committee shall identify, review and recommend candidates for the Board in accordance with the criteria set forth in the Policy.

The AGM of 2015 decided that the Board would consist of eight members until the close of the AGM to be held in 2016. The term of office of the Board members ends at the close of the AGM that first follows their election. The members of the Board elect a Chairman and Vice Chairman from among their members at their first meeting following the AGM.

The Board convened 11 times in 2015. Veli-Matti Mattila and Anne Brunila were prevented from attending one meeting each. Other Board members attended all meetings and, accordingly, the attendance of Board members at meetings was 98 per cent.