Kone Oyj

Item 10.00 – Remuneration Report

Folketrygdfondet’s decision to vote against the executive Remuneration Report is based on a cumulative assessment. Folketrygdfondet’s expectations related to board and executive remuneration is that the the Company has failed to implement a remuneration strategy that adequately aligns executive pay with performance, particularly in the longer term. In this case, we note that there is a disconnect between pay and safety performance. For this reason, we voted against this item.