Corporate governance

Committees

Audit and Remuneration Committee

In the Constitutive meeting of the Board of Directors on April 4, 2025, it was decided to combine the Remuneration committee with the Audit committee, which will be called the Audit and Remuneration committee.

On April 4, 2025, from among its members, the Board elected the following persons as members of the Board's Audit and Remuneration Committee: Pekka Mattila (Chair), Tuomas Tenkanen, and Joseph Bernardo.

The Audit and Remuneration Committee assists the Board of Directors by preparing matters assigned to the committee. Its responsibilities include overseeing Aiforia’s financial reporting and related practices, ensuring compliance with applicable laws, evaluating the company’s risk management system, and monitoring the work of the external auditor. In addition, the committee prepares remuneration-related matters for the Board, including the appointment and compensation of the CEO and other key executives, as well as Aiforia’s general remuneration principles and incentive programs.

The Board of Directors has defined the committee’s main responsibilities and operating principles in a written charter.

The committee consists of two to three members, including the Chair of the Board. A majority of the members must be independent of Aiforia, and at least one member must also be independent of Aiforia’s significant shareholders. The members must have sufficient expertise to carry out the committee’s duties, and at least one member must have specific expertise in accounting, financial reporting, or auditing.