Organizational meeting of SATO Corporation's Board of Directors

3 April 2019

SATO Corporation, Changes board/management/auditors, 3rd April 2019 at 2:15 pm

On 3 April 2019, the SATO Annual General Meeting elected Erik Selin to serve as Chairman of the Board of Directors of SATO Corporation.

At its organizational meeting also held on 3 April 2019, the Board elected from among its number Jukka Hienonen to serve as Deputy Chairman.

Erik Selin was appointed by the Board to chair the Nomination and Remuneration Committee and Jukka Hienonen and Tarja Pääkkönen to serve as Committee members.

Marcus Hansson was appointed by the Board to chair the Audit Committee, while Esa Lager, Johannus (Hans) Spikker and Timo Stenius were appointed to serve as Committee members.

For more information please contact:

Saku Sipola, President and CEO, phone +358 201 34 4001 or +358 40 551 5953

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 2018 SATO owned around 25,900 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.

The SATO Group's net sales in 2018 were EUR 290 million, operating profit EUR 273 million and profit before taxes EUR 231 million. The value of SATO's investment assets was roughly EUR 3.9 billion.