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Shareholders and dividend policy

Largest shareholders 30th September 2025

Shareholder

Shares

%

Balder Finska Otas AB (Fastighets AB Balder)

49,632,504

58.3%

Stichting Depositary APG Strategic Real Estate Pool

19,217,470

22.6%

Elo Mutual Pension Insurance Company

10,849,621

12.8%

The State Pension Fund

4,194,300

4.9%

Tradeka Invest Ltd

189,750

0.2%

Research Foundation of the Pulmonary Diseases

180,000

0.2%

SATO Corporation

166,000

0.2%

Finnish Paperworkers' Union

150,000

0.2%

Komulainen Pekka

139,825

0.2%

Entelä Tuula

131,300

0.2%

Others (104 shareholders)

211,674

0.2%

On 31 December 2025, the Group had 114 shareholders entered in the book-entry register. The turnover of SATO Corporation’s shares was 1.6% during the reporting year.

Dividend policy

Annual dividends paid will, depending on the market situation, investment level, the development of equity ratio and the solvency ratio, be a maximum of 40 percent of the cash earnings.

Annual General Meeting decided that according to the proposal by the Board of Directors, a dividend of EUR 0.25 per share is paid for the 2025 financial year (EUR 0.00/share for 2024).