Changes in the Audit Committee of AS LHV Group A

At today’s meeting the Supervisory Board of AS LHV Group decided to change members of the company’s Audit Committee, according to members’ notices. Gerli Kilusk and Marilin Hein were withdrawn from the committee as of 31 March 2017 and Urmas Peiker and Kristel Aarna were appointed as new committee members. Tauno Tats continues as a member of the Audit Committee.

Urmas Peiker was appointed as chairman of the Audit Committee and Kristel Aarma as vice chairman.

Urmas Peiker works as the Head of Business Development in Funderbeam, a start-up company he co-founded in June 2013. From May 2013 to October 2014 Peiker served as the Head of Compliance in LHV Bank. Previously he has also worked as Head of Market Supervision Department in the Estonian Financial Supervisory Authority and held positions in European Bank for Reconstruction and Development, Morgan Stanley and EstCap Ltd. Mr Peiker serves as member of the management board in following companies: Osaühing PT Arendus, OÜ Bintous, Osaühing Pioneer Engineering Group, Funderbeam Markets OÜ, FBM SPV1 OÜ, Funderbeam Ventures OÜ, IPDX SPV1 OÜ, OÜ Estcap, SHW SPV1 OÜ, SPID SPV1 OÜ, SPLZ SPV1 OÜ, VTC SPV1 OÜ and  Funderbeam Ltd (located in the United Kingdom). Urmas Peiker has the option to require 3809 shares of AS LHV Group based on option programme issued in 2014.

Since 2011 Kristel Aarna serves as the Financial Manager at Viasat AS and served as Chief Controller at Swedbank Baltic Banking before that. She has also served as Head of Financial Advisory Services at KPMG Baltic AS and filled positions in Bank of Estonia and CVS Caremark Corporation, Inc. In addition to the procurator position at Viasat AS, Kristel Aarna serves as member of the management board in IKA Konsult osaühing, owned by her. Kristel Aarna does not hold shares of AS LHV Group.

Urmas Peiker and Kristel Aarna were appointed as Audit Committee members with the term until 31 March 2020. The Supervisory Board also extended the authorities of Tauno Tats until 31 March 2020.

LHV Group is the largest domestic financial group and capital provider in Estonia. LHV Group's key subsidiaries are AS LHV Pank and AS LHV Varahaldus. LHV employs about 300 people and over 110,000 customers use LHV’s banking services. Pension funds managed by LHV have about 180,000 customers.

         Priit Rum          Communication Manager          Phone: +372 502 0786          Email: priit.rum@lhv.ee