The Board
of Directors

Vesa Sadeharju has been the Chair of the Board since 2013.

Partner of VNT Management Oy.

2000-2007 Sadeharju was Director and Partner of 3i Nordic plc.
1996-2000 Sadeharju was a founding member of SKF Finance.

1981-1996 Sadeharju held various management positions at ABB’s electrical applications business units.

Board Member of Power Fund III GP Oy since 2011, Board Member of Norsepower Oy since 2016, Elcogen Group Plc board member since 2021, Chair of the Board of Elcogen Oy since 2009, Chair of the Board of Elcogen AS Supervisory Board since 2008, Chairman of the Board of Distence Oy since 2023, Board member of VNT Management Oy since 2008, and Chairman of the Board of Sadeharju Consulting Oy since 2007.

Shareholding: –

Vesa Sadeharju is independent of the Company. Vesa Sadeharju is not independent of the Company’s major shareholders, as he is not independent of VNT Management Oy, which manages Power Fund II Ky fund, a major shareholder of Merus Power (shareholding 560 661)

Anne Koutonen has been a Member of the Board since 2001.

Anne Koutonen has been a Member of the Board of Directors of Modulight Oyj since 2023, Member of the Board of Directors of Kemppi Oy since 2022, Member of the Board of Directors of Robit Oy since 2020 and Chairman of the Audit Committee since 2021, Member of the Board of Directors of Image Wear Oy since 2019, Member of the Board of Directors of Tammer Brands Oy and Chair of the Board since 2020, Member of the Board of Directors of HKScan Oyj and Chair of the Audit Committee since 2019, Member of the Board of Directors and Audit Committee of Kojama Oy since 2018 and Chair of the Audit Committee since 2019 and Member of the Board of Componenta Oy since 2017 and Vice Chair of the Board of Directors since 2019.

Koutonen has previously served as the CFO and Head of Investor Relations at Nokian Tyres Plc during 2006-2018 and Team Leader of Treasury during 1997-2006.

1995-1997 Koutonen held a position of Financial Analyst at Oy Kyro Ab.

1992-1994 Koutonen was Domestic Money Market Manager, Member of the Management Team and Head of Market Dealers of Financial Bank of Finland Savings Bank – SSP Ltd.

Shareholding: 205

Independent of the company and its significant shareholders.

Vesa Riihimäki has been a Member of the Board since 2005.

Riihimäki is Director, Delivery Management of Wärtsilä Finland Oy and a Member of the Management Team of the Power Supply Business Line.

2018-2020 Riihimäki served as President and CEO of Wärtsilä Finland Ltd.

Riihimäki served as Vice President, Wärtsilä Quality during 2014-2018, as Vice President, QEHS, Wärtsilä Services and concurrently in the Management Team of the Services Business Line, 2009-2014 he was President, Power Plants & Executive Vice President and concurrently on the Wärtsilä Corporation Management Team,
2004-2009 he was Vice President, Power Plant Technology and concurrently on the Management Team of the Power Plants Business Line. Additionally Riihimäki has held various positions at Wärtsilä Finland Oy during the period 1992-2003.

Shareholding: 16 581

Independent of the Company and its significant shareholders.

Tapani Kiiski has previously served as President and CEO of Raute Corporation from 2004 to 2022, as Vice President -Sales and Technology from 2002 to 2004, and as Vice President – Technology in 2002.