Partial demerger of Sampo completed - Mandatum to be listed on Nasdaq Helsinki

SAMPO PLC                STOCK EXCHANGE RELEASE        1 October 2022 at 12:00 pm

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Partial demerger of Sampo completed - Mandatum to be listed on Nasdaq Helsinki

The completion of Sampo plc’s partial demerger has today been registered with the Finnish Trade Register and Mandatum has consequently been separated from Sampo Group, in accordance with the decision of Sampo’s Annual General Meeting on 17 May 2023. Nasdaq Helsinki has admitted the shares in Mandatum plc, the company incorporated in the demerger, to trading on the official list from 2 October 2023.

- By separating Mandatum from Sampo, we have simplified the Group and created two entities that are well placed to create shareholder value. Sampo becomes a pure P&C insurance group, while Mandatum is free to pursue its ambitious growth agenda within capital light products, says Antti Mäkinen, Chair of the Board.

As a result of the demerger, all the shares in Mandatum Holding Ltd and related assets and liabilities have been transferred, without a liquidation procedure, to Mandatum plc. As demerger consideration, Sampo shareholders will receive one new share in Mandatum plc for each existing series A or series B share in Sampo plc. The demerger consideration will be delivered through the book-entry system without separate action being required from the Sampo shareholders. The Mandatum shares will be registered to shareholders’ book-entry accounts on 2 October 2023, the same date on which trading with shares in Mandatum plc is expected to begin on Nasdaq Helsinki. Sampo SDR holders will receive the demerger consideration on or around 9 October 2023, if the SDR holder provides the required information to SEB, issuer and custody bank for the SDR arrangement, by 15:00 (CET) on 4 October 2023.

The demerger will not cause immediate tax consequences for shareholders who are generally liable to tax in Finland, as the partial demerger will be treated as a tax neutral demerger for Finnish tax purposes.

As a consequence of the completion of the demerger, the Board of Directors of Sampo plc has made a decision to update the terms of the long-term incentive scheme 2020:1. The updated terms are available at www.sampo.com/incentiveterms.