Annual General Meeting 2005

STOCK EXCHANGE RELEASE 6 APRIL 2005, at 16.30 hrs

RAKENTAJAIN KONEVUOKRAAMO OYJ’S ANNUAL GENERAL MEETING ADOPTION OF FINANCIAL STATEMENTS

Rakentajain Konevuokraamo Oyj’s Annual General Meeting on 6 April 2005 adopted the financial statements for 2004, discharged Board members and the Managing Director from liability, and approved the Board’s proposal for distributing a per-share dividend of EUR 0.25 to shareholders, regarding 14,319,807 shares
which totalled EUR 3,579,951.75. This dividend accounts for 44.64 per cent of earnings per share. The record date for dividend distribution for the financial year 2004 will be 11 April 2005 and dividend payment will begin on 18 April 2005.

BOARD AUTHORISATION TO DECIDE ON INCREASING THE SHARE CAPITAL BY ISSUING NEW SHARES

The Board was authorised to decide on the increase of the share capital within one year from the meeting by issuing new shares in one or several issues so
that the share capital may be increased by EUR 3,716,751.09 at the most by issuing at the most 2,199,261 new series B-shares, each with an accounting par
value of EUR 1.69. However, with regard to the total amount of the increase of the share capital and the total number of new shares to be issued, the
authorisation and the Board’s other valid unused authorisations may not in aggregate exceed one-fifth of the registered share capital and the votes
attaching to the shares at the time of the authorisation decision of the ordinary shareholders’ meeting and the decision of the Board to increase the share capital.

The authorisation entitles the Board to deviate from the shareholders’ preemptive rights to subscribe for new shares set forth in Chapter 4 Section 2 of
the Companies Act, provided that there is a material economic ground for doing so, such as increasing the number of shareholders, financing corporate
acquisitions or co-operation, and enabling restructurings or other development of the company’s business operations. The decision may not be made for the
benefit of the inner circle of the company. In addition the authorisation entitles the Board to decide who has the right to subscribe to the shares, the basis for the subscription price and the subscription price and the other terms of subscription for the new shares.

According to the authorisation, the Board is entitled to decide that a share subscription payment may be made as a payment in kind, by making use of a right to set off or otherwise on certain terms.

BOARD AUTHORISATION TO BUY BACK OWN SHARES

The Board was authorised to buy back a maximum of 715,990 company’s outstanding series B-shares with distributable funds, or five (5) per cent of the company’s share capital at the market value prevailing on the purchase date in public trading on the Helsinki Stock Exchange, to be used as a consideration in the event of purchasing assets pertaining to the company’s business or in the event of business acquisitions or other co-operation-related arrangements. The authorisation is valid for one year as of the decision by the shareholders’ meeting, but only until the following Annual General Meeting.

This authorisation replaces the one granted by the Annual General Meeting of 2 April 2004.

BOARD AUTHORISATION TO TRANSFER OWN SHARES

The Board was authorised to transfer all series B-shares bought back pursuant to the authorisation given to the Board. Shares may be transferred as a
consideration in the event of purchasing assets pertaining to the company’s business or in the event of business acquisitions or other co-operation-related
arrangements in a manner and to the extent decided by the Board at the market value prevailing on the transfer date in public trading on the Helsinki Stock
Exchange. The Board is authorised to decide to whom and in what order the bought shares may be transferred as distinct from the shareholders’ subscription privilege, but not to the immediate circle, provided that there is a cogent financial reason for deviating from the shareholders’ subscription privilege. The authorisation will be valid for one year from the date of the Annual General Meeting’s decision, but only until the following Annual General Meeting.

This authorisation replaces the one granted by the Annual General Meeting of 2 April 2004.

BOARD AND AUDITORS

The following seven members were elected to the Board: Mr Eino Halonen, Mr Asko Järvinen, Mr Matti Koskenkorva, Mr Jari Lainio, Mr Juhani Nurminen, Mr Pekka Pystynen and Mr Paavo Ruusuvuori.

The auditors elected for the company were PricewaterhouseCoopers Oy, Authorised Public Accountant, and Yrjö Haukatsalo, Authorised Public Accountant. Mr Henrik Sormunen, Authorised Public Accountant, is responsible accountant for PricewaterhouseCoopers Oy. Mr Janne Rajalahti, Authorised Public Accountant, was elected as deputy auditor.

BOARD ORGANISATION

At the meeting held immediately after the Annual General Meeting, the Board elected Mr Paavo Ruusuvuori, chairman of the Board and Mr Matti Koskenkorva, vice-chairman of the Board.

Corporate governance statements

Corporate governance

The corporate governance at Cramo is based on Finnish law and the Company’s Articles of Association. The Group complies with the rules of Nasdaq Helsinki Ltd and the Finnish Corporate Governance Code 2015 published by the Securities Market Association. The Corporate Governance Code is available on the Securities Market Association’s website:  http://cgfinland.fi/en/. Cramo does not deviate from the Finnish Corporate Governance Code Recommendations.

The Group’s headquarters are in Vantaa, Finland and the Company is listed on the Nasdaq Helsinki Ltd.

Cramo prepares annual financial statements and interim reports conforming to Finnish law and International Financial Reporting Standards (IFRS). Statements and reports are published in Finnish and English.

Overview of Corporate Governance Components at Cramo Group

The Group’s control and management responsibilities are divided among the General Meeting of Shareholders, the Board of Directors with its two committees, and the President and CEO, the Group management team, managing directors of subsidiaries, and the General Management Meeting. The Board of Directors supervises the performance of the Company, its management and organisation on behalf of shareholders. The Board of Directors and the Group management team are separate bodies, and no one serves as a member of both.