Investor Presentaiton

CORPORATE GOVERNANCE STATEMENT Number of Board and Committee meetings in 2021 and participant attendance: Antti Herlin Nomination and Board 7/7 Audit Committee Compensation Committee 1/1 7/7 3/3 4/4 4/4 7/7 2/2 4/4 7/7 7/7 7/7 3/3 7/7 4/4 6/6 1/1 1/1 Anne Brunila and Sirpa Pietikäinen served as Board members until March 2,2021. Jennifer Xin-Zhe Li was elected to the Board on March 2,2021. Jussi Herlin Matti Alahuhta Susan Duinhoven liris Herlin Ravi Kant Juhani Kaskeala Jennifer Xin-Zhe Li Anne Brunila Sirpa Pietikäinen members are independent of the Corporation's significant shareholders. The Board of Directors convened seven times in 2021, with an average attendance rate of 100%. Jukka Ala-Mello serves as Secretary to the Board and to its Committees. Audit committee The Board of Directors' Audit Committee comprises Ravi Kant (Chairman, independent member), Matti Alahuhta (independent member), and Jussi Herlin. The Audit Committee held three meetings in 2021, with an average attendance rate of 100% Kristian Snäll serves as the Head of Assurance. Nomination and compensation committee The Nomination and Compensation Committee comprises Antti Herlin (Chairman), Matti Alahuhta (independent member), Jussi Herlin and Juhani Kaskeala (independent member). The Nomination and Compensation Committee held four meetings in 2021, with an average attendance rate of 100%. Compensation and other benefits of the Board of Directors 1/1 The Annual General Meeting of KONE Corporation in March 2021 confirmed the fees of the members of the Board as follows (annual fees in EUR): Chairman of the Board Vice Chairman Member 220,000 125,000 110,000 Of the remuneration, 40 percent was paid in class B shares of KONE Corporation and the rest in cash. Annual board fee is not paid to a board member who is employed by the company with a separate employment contract. Board members' travel expenses and daily allowances are compensated in accordance with the company's travel expense policy. Compensation and other benefits of the Chairman and the Vice Chairman Antti Herlin has had a separate employment contract for his role as Full-time Chairman of the Board at KONE until March 2, 2021. The employment-based compensation for Antti Herlin consisted of a base salary and an annual bonus decided by the Board on the basis of the Group's financial result. The annual bonus may not exceed 100 percent of the recipient's annual salary. In 2021, Antti Herlin's base salary was EUR 74,600. In addition, he received a bonus of EUR 290,462 which was earned in 2020. He was also paid EUR 223,500 as compensation for serving as Chairman of the Board. Antti Herlin's holdings of shares are presented in the table on page 111. A separate employment contract was entered into with Vice Chairman of the Board Jussi Herlin for his role as the Executive Vice Chairman of the Board as of March 2, 2021. The employment-based compensation for Jussi Herlin consists of a base salary and an annual bonus decided by the Board on the basis of the Group's financial result. The annual bonus may not exceed 100 percent of the recipient's annual base salary. In 2021, Jussi Herlin's base salary was EUR 104,365. In addition, his accrued bonus for 2021 totaled EUR 26,166. This bonus will be paid in 2022. He was also paid EUR 3,500 in meeting fees for Board and Committee work during the time preceding March 2, 2021. Jussi Herlin's holdings of shares are presented in the table on page 111. The Executive Vice Chairman's retirement age and pension are determined in accordance with Finland's Pensions Act. No separate agreement regarding early retirement has been made. President and CEO Henrik Ehrnrooth serves as KONE Corporation's President and CEO. Compensation and other benefits of the President and CEO The President and CEO's compensation consists of a base salary and an annual bonus determined by the Board on the basis of the Corporation's key targets. The annual bonus may not exceed 150 percent of the recipient's annual salary. Henrik Ehrnrooth's annual base salary is EUR 750,000. In addition, his accrued bonus for 2021 totaled EUR 835,350. The performance criteria applied to this annual short-term incentive is based on financial, strategic and individual performance. The bonus will be paid in 2022. Henrik Ehrnrooth is included in the share-based incentive plan for the Group's senior management. In April 2021, on the + More information This statement is available on the company's web pages at www.kone.com and it has been given separately of the Board of Directors' report. 110 KONE ANNUAL REVIEW 2021

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