Coop Pank — Board/Management Information 2025

Apr 21, 2025

CEO of Coop Pank, Margus Rink, to step down at the end of May

CEO of Coop Pank, Margus Rink, to step down at the end of May

After leading Coop Pank for eight years, CEO Margus Rink will step down at the
end of May. Rink has served as Chairman of the Management Board since 2017.

The Supervisory Board of Coop Pank will initiate the search for a new CEO, who
will then be responsible for defining the bank's strategic direction for the
next period. Until the new CEO is appointed, the current Management Board member
and Chief Risk Officer, Heikko Mäe, will assume the responsibilities of the
Chairman of the Management Board. Other members of the board-CFO Paavo Truu,
Head of Corporate Banking Arko Kurtmann, and Head of Retail Banking Karel
Parve-will continue in their current roles.

Chairman of the Supervisory Board, Rainer Rohtla, expressed gratitude to Margus
Rink for his significant role in building Coop Pank and leading its rapid
growth. "Margus has contributed to Coop Pank with great intensity and dedication
since its founding in 2017. Under his leadership, the bank has become a key
player in the Estonian banking market, increasing its market share from 1% to
6%, getting listed on the Tallinn Stock Exchange, and becoming the most
recommended bank among customers in Estonia. As we approach the end of our first
strategic period in 2026, it is the right time for a new leader to define and
implement the next phase of the bank's strategy," Rohtla noted.

Margus Rink commented that building Coop Pank has been both a demanding and
rewarding journey: "I am grateful to Coop Pank for the opportunity. These eight
years have undoubtedly been the most intense and fulfilling period of my
professional life. I have always been aware that my tenure as CEO was aligned
with the bank's first strategic phase, which we defined as a ten-year horizon. I
fully support the Supervisory Board's decision to begin the search for a new
CEO, who will shape and execute the strategy for the next chapter."

Margus Rink's term as Chairman of the Management Board will officially end on
May 30, 2025. His roles as a Supervisory Board member of Coop Pank's
subsidiaries Coop Liising AS and Coop Kindlustusmaakler AS will also conclude at
the same time. Until the appointment of a new CEO, the role will be temporarily
assumed by Heikko Mäe.

Coop Pank, a bank with Estonian capital, is one of the five universal banks
operating in Estonia. The bank serves 211,000 everyday banking clients. Coop
Pank leverages the synergy between retail and banking to bring financial
services closer to where people live. The bank's strategic owner is Coop Eesti,
a domestic retail chain with a network of 320 stores across the country.

Additional information:
Katre Tatrik
Head of Communications
Tel: +372 5151 859
Email: [email protected]