Standard & Poor’s reaffirmed SATO Corporation's BBB credit rating but at the same time revised the outlook to negative

18 October 2021

SATO Corporation, Stock Exchange Release, 18th October 2021 at 5:40 pm

The credit rating agency Standard & Poor’s has affirmed SATO Corporation's BBB credit rating, but at the same time revised the rating outlook to negative from stable. The revise in the outlook is a direct consequence of the weakening of the outlook for the corresponding rating of Fastighets AB Balder, SATO's main owner.

**Further information:
**CFO Markku Honkasalo, tel. +358 201 34 4226

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 2020, SATO owned close to 26,800 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 2020 were EUR 303.4 million, operating profit EUR 179.6 million and profit before taxes EUR 129.5 million. The value of SATO's investment properties is roughly EUR 4.8 billion.