The Election Committee's proposal regarding the Board of Director's of Castellum

Castellum has been informed of the Election Committee's proposal to the Annual General Meeting on March 25, 2021.

The Election Committee, represented by a majority consisting of Patrik Essehorn, Magnus Strömer and Christina Tillman, propose that the Board of Directors shall consist of seven Board members and that Per Berggren, Christina Karlsson Kazeem, Zdravko Markovski and Joacim Sjöberg shall be re-elected as Board members. Furthermore, Rutger Arnhult, Anna Kinberg Batra and Anna-Karin Celsing are nominated as new Board members. Rutger Arnhult is nominated as new Chairman of the Board.

The Election Committee believes that the suggested Board members will constitute a strong Board with wide and deep knowledge in practises highly relevant for Castellum's business operations. It is the Election Committee's belief that the Board of Directors will create durable long-term values for the shareholders of Castellum. Moreover, the proposed composition represents both versatility and diversity, including an even gender distribution.

Board members proposed for new election by the majority of the Election Committee

Rutger Arnhult, born in 1967, holds a master's degree in economics from Lund University and has extensive experience and expertise within the real estate industry. Rutger Arnhult is currently Chairman of M2 Asset Management AB, CEO of Klövern AB (publ) and Board member in Corem AB (publ) and Klövern AB (publ).

"Castellum has been a large holding in my investment portfolio for a long time, and the time has now come for me to hand over my assignments in Klövern and Corem. Today these companies are self-going and I believe I can contribute the best where I am needed the most, which is within Castellum. Castellum will be my full focus from now on, and I am very excited to lead the superb team that is the Board of Directors", says Rutger Arnhult.

Anna Kinberg Batra, born in 1970, holds a degree from the Stockholm School of Economics and has broad political experience, from the municipal level to the international level, including as Chair of the Swedish Parliament's Finance Committee and Chairwoman of the Swedish Moderate Coalition Party. Today, she works with entrepreneurship and social development as, among other things, Chair of Soltech Energy, Board member of Carasent, SJR and Swedish Space Corporation, Investigator of the Swedish State's role on the digital payment market as well as columnist in Dagens Industri. Batra has previously been a Board member of Avanza Pension, Collector and Fryshuset, co-founder of the talent network Nova, advisor to SSE Business lab, consultant at Prime PR and Chief Information Officer at the Stockholm Chamber of Commerce.

"The real estate industry has an important role both in the economy as a whole and in building a sustainable society, where Castellum is one of the Nordic region's foremost players. I look forward to being able to contribute with an understanding of the interaction between politics and business in Sweden and internationally, as well as with my experience from the solar energy industry as it is noticeable that Castellum is serious about sustainability work", says Anna Kinberg Batra.

Anna-Karin Celsing, born in 1962, holds a master's degree from Stockholm School of Economics. Anna-Karin Celsing has a background in banking, finance and Investor Relations. She has previously been Head of Investor Relations at Swedbank and member of the Group Management at Ratos as Chief Information Officer. Moreover, Anna-Karin Celsing has experience as Director of the Board in publicly listed as well as in privately held companies, as well as in the public sector. Anna-Karin Celsing has, among other positions, been a Board member of the Swedish Financial Supervisory Authority, the Royal Opera and Tengbom Arkitekter AB. She has also been Chair of Sverige Television. Anna-Karin Celsing is currently a Board member at Carnegie Investment Bank AB, Volati AB, Landshypotek Bank AB, OX2 AB, Lannebo Fonder AB and Tim Bergling Foundation.

"Castellum is already a well-run company with a good strategy and high ambitions for Nordic expansion. I hope to be able to contribute with my experience and knowledge in banking, finance and capital markets so that these ambitions are now realized", says Anna-Karin Celsing.

Reasons for the Election Committee's proposal

The Election Committee's assessment is that the Board in Castellum has functioned well. In light of the fact that Charlotte Strömberg, Anna-Karin Hatt, Christer Jacobsson and Nina Linander have declined re-election, the Election Committee has considered what qualities and competences should be supplemented to the Board and how the continuous renewal process within the Board should best be carried out.

The Election Committee considers that the proposed Board members possess good competence and extensive experience, for example in matters concerning acquisitions, management and development of properties, capital markets, financing, community development, sustainable business practices, changing customer behaviours and creation of long-term shareholder value as well as Board work in general. Rutger Arnhult, Anna Kinberg Batra and Anna-Karin Celsing are considered to provide the competence and experience in several of the areas mentioned above and are thus considered to substantially deepen the Board's areas of competence and experience. The Election Committee considers that the proposed Board members together will form a Board that has the versatility and breadth of competence, experience and background required with regard to Castellum's operations, stage of development and other circumstances. The Election Committee's proposal means that the Board will be comprised of four men and three women.

In connection to the Election Committee's proposal there have been extensive discussions concerning whether Rutger Arnhult should be part of the Board of Directors, mainly regarding the risk of conflict of interests.

Within the Board of Castellum, it has historically occurred that current Board members have been in situations of conflicts of interest, e.g. regarding construction projects and divestment of real estate. However, these matters have been dealt with by the Board and relevant Board members in an appropriate manner.

It is the Election Committee's opinion that Rutger Arnhult is a highly experienced and competent person within the real estate market. The Election Committee considers it important that owners actively act on General Meetings, in Election Committees and on Boards. This is also supported by the Swedish Code of Corporate Governance. In the Election Committee's opinion, there has been a lack of active owners on the Board of Castellum. Rutger Arnhult has been involved in creating major value for all shareholders in e.g. Corem Property Group AB (publ) and Klövern AB (publ). As a consequence of the Election Committee's proposal Rutger Arnhult has announced that he will resign as CEO of Klövern and resign as a member of the Board of Directors in Corem and Klövern no later than the day he is elected as Chairman of Castellum. It is the Election Committee's opinion that Rutger Arnhult through these measures should not be considered to be in conflict of interest or act in violation of other principles in the Swedish Companies Act or the Swedish Code of Corporate Governance.

Should any Board member be in a situation with conflicting interests, the provisions of the Swedish Companies Act will apply. Moreover, Castellum applies the Swedish Code of Corporate Governance with its recommendations on the composition of the Board, where dependency situations shall be taken into account. The Election Committee is convinced that the Board of Directors can handle any conflict of interest that could arise, as they have done historically.

The Election Committee considers that the proposed members of the Board, will constitute a strong Board with a wide and deep competence within areas relevant to Castellum's business operations. It is the Election Committee's opinion that the proposed Board will contribute to creating long-term value for all of Castellum's shareholders.

Other proposals regarding the composition of the Board of Directors

On 27 January 2021, Vincent Fokke and Charlotte Strömberg published a proposal for the composition of the Board other than that proposed by the Election Committee.

For further information please contact:
Patrik Essehorn, Chairman of the Election Committee, patrik.essehorn@walthon.se, +46 708 82 03 75
 

About Castellum
Castellum is one of the Nordic region's largest listed real estate companies with a property value of SEK 103 billion. We are active in 17 Swedish growth regions as well as in Copenhagen and Helsinki. Every day, 250,000 people go to work in our premises. We develop flexible workplaces and logistics solutions with a lettable area of 4.4 million square meters. One of our sustainability goals is to be entirely climate neutral by 2030. Castellum is the only Nordic real estate company selected by the Dow Jones Sustainability Index (DJSI). The Castellum share is listed on the Nasdaq Stockholm Large Cap.

Beyond expectations.
www.castellum.se