LHV Group — Board/Management Information 2022

Oct 25, 2022

Company Type Category Disclosure time AS LHV Group Company Release Other corporate action 25 Oct 2022 16:30:00 +0300

Currency

Changes in Supervisory Board of LHV Varahaldus Title

AS LHV Group, the sole shareholder of AS LHV Varahaldus resolved on October 24, 2022 to appoint Kadri Kiisel as a new member of the Supervisory Board of AS LHV Varahaldus for a term beginning on the date of the resolution and ending on March 31, 2022. On the same date, Erki Kilu was recalled from the Supervisory Board.

Kadri Kiisel is the Chairman of the Management Board of AS LHV Pank since 2021 and a Member of the Supervisory Board of AS LHV Finance. In 2022, she was appointed to the supervisory board of EveryPay AS. She managed retail banking of AS LHV Pank since 2018 as a Member of the Management Board and has also been the CEO of AS LHV Finance. From 2011, Kiisel worked as the manager of the AS LHV Pank's Tallinn branch and since 2017 she was the Head of Branches of AS LHV Pank. She also belongs to the Management Board of the Estonian Banking Association. Kadri Kiisel has a Master's degree in Financial Management from the University of Tartu. She together with a related person hold 186,040 shares of AS LHV Group and she has the right to acquire a total of 539,180 shares of AS LHV Group for the options issued in 2020, 2021 and 2022.

Madis Toomsalu, the Head of LHV Group and Chairman of the Supervisory Board of LHV Varahaldus, commented on the proposed change as follows: 'LHV Varahaldus and LHV Pank have similar ambitions when it comes to growth plans and client overlap. In order to achieve the overlapping plans, a solid cooperation between LHV Pank and LHV Varahaldus is needed, making it rational to readjust the composition of the Supervisory Board for it to better match the goals. Kadri's joining the Supervisory Board is beneficial to that aim.'

LHV Group is the largest domestic financial group and capital provider in Estonia. LHV Group's key subsidiaries are LHV Pank, LHV Varahaldus, and LHV Kindlustus. The Group employs more than 840 people. As of September, LHV's banking services are being used by 364,000 clients, the pension funds managed by LHV have 130,000 active clients, and LHV Kindlustus protects a total of 152,000 clients. LHV's UK branch offers banking infrastructure to 200 international financial services companies, via which LHV's payment services

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Marthi Lepik Communications Specialist Phone: +372 5666 2944 Email: marthi.lepik@lhv.ee (mailto:marthi.lepik@lhv.ee)

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