AS LHV Group decided to elect Meelis Paakspuu, Martti Singi, and Jüri Heero as new Members of the Management Board. Madis Toomsalu, current Member of the Management Board, was appointed Chairman of the Management Board and his mandate was not changed. The mandates of the new Members of the Management Board will start on 1 November 2022 and will be valid until 31 March 2027.

The current mandate of Madis Toomsalu is valid until 31 March 2026. Madis Toomsalu has been a Member of the Management Board of LHV Group since 2016. He is the Chairman of the Supervisory Boards of AS LHV Pank (LHV Pank), AS LHV Kindlustus, AS LHV Varahaldus, EveryPay AS and a Member of the Supervisory Board of AS LHV Finance.

He is also the Chairman of the Board of Directors of LHV UK Ltd. and a Member of the Management Board of MTÜ FinanceEstonia. Madis Toomsalu and a person related to him own 1,031,090 shares of LHV Group (0.33% stake). He has the right to acquire a total of 860,310 shares of LHV Group for the options issued between 2020 and 2022.

Meelis Paakspuu has been a Member of the Management Board and CFO of LHV Pank since 2015. He does not belong to governing bodies of any other companies. Meelis Paakspuu and persons related to him own 491,320 shares of LHV Group (0.16% stake) and he has the right to acquire a total of 527,700 shares of LHV Group for the options issued between 2020 and 2022.

Martti Singi has been a member of the Management Board and Risk Manager of LHV Pank since 2012. He does not belong to governing bodies of any other companies. Martti Singi and persons related to him own 853,530 shares of LHV Group (0.27% stake) and he has the right to acquire a total of 506,410 shares of LHV Group for the options issued between 2020 and 2022.

Jüri Heero has been a member of the Management Board and IT Manager of LHV Pank since 2007. He does not belong to governing bodies of any other companies. Jüri Heero and persons related to him own 1,012,180 shares of LHV Group (0.32% stake) and he has the right to acquire a total of 506,410 shares of LHV Group for the options issued between 2020 and 2022.

All new Members of the LHV Group Management Board will continue to serve on the Management Board of LHV Pank. The right of representation specification of the Members of the Management Board resulting from the Articles of Association of LHV Group will also be entered in the Commercial Register: the Chairman of the Management Board alone or two Members of the Management Board jointly may represent LHV Group in transactions.