SATO Oyj

SATO Corporation, Stock Exchange release, 25 March 2021 at 3:35 pm

Adoption of financial statements and discharge from liability

On 25 March 2021 the Annual General Meeting of SATO Corporation adopted the company's financial statements for the financial period 1 January - 31 December 2020 and discharged the members of the Board of Directors from liability for the financial period 2020, and the President and CEO Sharam Rahi for the period 1 January - 17 December 2020 as well as the President and CEO Antti Aarnio for the period 18−31 December 2020.

Board of Directors
The number of members of the Board of Directors was confirmed to be six (6).

The Annual General Meeting elected Erik Selin to serve as Chairman of the Board. Sharam Rahi was elected as a new member of the Board of Directors. Members Esa Lager, Tarja Pääkkönen, Johannus (Hans) Spikker and Timo Stenius were re-elected as members of the Board of Directors.

Auditor

Deloitte Oy, the firm of authorized public accountants, was elected as the auditor. Deloitte Oy has notified that APA Eero Lumme will serve as the auditor with principal responsibility.

Dividend distribution

The Annual General Meeting resolved that EUR 0.50 per share is paid out in dividends by SATO Corporation for the financial period ending 31 December 2020. The record date for dividend distribution is March 29, 2021 and the dividend is to be paid on April 7, 2021.

Further information
CEO Antti Aarnio, tel. +358 20 134 4200
CFO Markku Honkasalo, tel. +358 20 134 4226
www.sato.fi

DISTRIBUTION: NASDAQ Helsinki Ltd., Euronext Dublin, main media, www.sato.fi

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 nearly 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 property is roughly EUR 4,8 billion.