Antti Aarnio appointed SATO´s acting President and CEO

18 December 2020

SATO Corporation, Stock Exchange Release, 18 December 2020 at 9:00 am

SATO Corporation´s Board of Directors has appointed M.Sc. (Tech) Antti Aarnio, 48, as the President and CEO of SATO, starting on December 18, 2020. Antti Aarnio acts as President and CEO until a permanent CEO is appointed. Aarnio also continues in his position as EVP, Rental Housing Business.

The prolonging restrictions related to coronavirus pandemic hinder Sharam Rahi, the current President and CEO of SATO, to fully participate in the management of the company. Mr. Rahi is the Vice CEO at Fastighets AB Balder, the main owner of SATO.

For more information please contact:

SATO Corporation

Chairman of the Board Erik Selin, tel. +46 31 10 95 92
President and CEO Antti Aarnio, tel. + 358 40 164 7052

DISTRIBUTION: NASDAQ Helsinki Ltd., Euronext Dublin, main media,

SATO is one of Finland's leading rental housing providers. SATO aims to offer a comprehensive choice of rental housing and an excellent customer experience. At year-end 2019, SATO owned over 26 000 apartments in Finland's largest growth centres and in St Petersburg.

We promote sustainable development and initiative through our operations and work in open interaction with our stakeholders to generate added value. We operate profitably and with a long-term view. We increase the value of our housing stock through investments, divestments and repairs.

SATO Group's net sales in 2019 were EUR 296 million, operating profit EUR 726 million and profit before taxes EUR 671 million. The value of SATO's investment assets is roughly EUR 4,7 billion.