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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.

The Board of Directors proposes to the Annual General Meeting that EUR 0.25 per share is paid in dividends for the 2025 financial year (EUR 0.00/share for 2024).