Terrafame Ltd is a non-listed company registered in Finland. Management and decision-making at Terrafame are governed by its Articles of Association, the Limited Liability Companies Act and other legislation in force, as well as the current Government Resolution on State Ownership Policy. Where applicable, the company’s corporate governance practices comply with the requirements set out in the Securities Market Association’s current Corporate Governance Code. The Code is available at cgfinland.fi/en.

The deviations from compliance with the Corporate Governance Code are related to the company’s general meeting (recommendations 1−4) and the organisation of related party governance required of listed companies.

The deviations from the Corporate Governance Code’s recommendations are based on the fact that the company’s securities are not publicly traded.