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Proposal of the Board

The parent company’s distributable funds total EUR 1,097,420,182.01, which includes EUR 281,705,697.79 in net profit for the year. There are 197,241,130 shares with dividend rights.

The Board of Directors proposes to the Annual General Meeting that the company’s distributable earnings be disposed of in the following way:

EUR
A dividend of EUR 1.30 per share be paid, making a total of 256 413 469.00
That the following sum be retained in shareholders’ equity 841 006 713.01
Totalling 1 097 420 182.01

The dividend shall be paid in two instalments. The first instalment, EUR 0.65 per share, shall be paid on 13 March 2017. The Board of Directors shall make a decision on the payment day of the second instalment of EUR 0.65 per share in its meeting scheduled for 12 September 2017. As per the current rules of the Finnish book-entry system the payment day of the second instalment shall then be 21 September 2017.

No significant changes have taken place in the company’s financial position since the end of the financial year. The company’s liquidity is good and in the opinion of the Board of Directors the proposed dividend will not put the company’s solvency at risk.

Helsinki, Finland, 26 January 2017

Mikael Lilius                             Sune Carlsson

Maarit Aarni-Sirviö                   Kaj-Gustaf Bergh

Tom Johnstone                       Risto Murto        

Gunilla Nordström                   Markus Rauramo

            Jaakko Eskola, President and CEO   

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