The Board shall elect a Managing Director and, if necessary, a substitute for the Managing Director. The Managing Director is responsible for the day-to-day management of the Company’s affairs. The Board of Directors has adopted Rules of Procedure for the Managing Director containing guidelines and instructions regarding the Company’s day-to-day management. In fulfilling his duties the Managing Director shall be assisted by the members of the Group Management Team of Ramirent and any other corporate bodies established by the Board of Directors.

The Managing Director has a written contract, approved by the Board of Directors. He is not a Board member, but attends Board meetings.

Mr. Kari Kallio acted as Managing Director until his retirement 14 January 2009 and was at the Company´s disposal until end of April 2009. Mr. Kallio is born in 1950 and is Finnish and Swedish citizen, M.Sc. (Eng). As Mr. Kallio did not belong to the Finnish statutory pension system, his pension accruing during the time he held the position of the Managing Director was arranged through a separate pension remuneration. In 2009, the remuneration corresponded to 30 % of his annual base salary and it is included in the below mentioned total compensation.

The Board of Directors appointed Mr.Magnus Rosén new Managing Director effective from 15 January 2009. Mr. Rosén is born in 1962 and is Swedish citizen, M.Sc. (Econ), MBA. His prior working experience: MD, Business Area, Sweden at BE Group 2008; SVP, Cramo Oyj 2006-2008; MD, Cramo Scandinavia, 1998-2006; MD, BT Hyrsystem AB and Service Market Manager, BT Svenska AB, 1993-1998.

Mr Rosén´s retirement age is 62 years. As Mr. Rosén does not belong to the Finnish statutory pension system, his pension accruing during the time he holds the position of the Managing Director is arranged through a separate pension arrangement, the premiums of which correspond to 35% of his annual base salary. The pension related remuneration is included in the total amount below.

The termination period for Mr Rosén is six months. If the Company terminates the magreement Managing Director shall receive additional discharge compensation equal to one year´s annual base salary.

Rules of procedure Managing Director