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Shareholders

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Wärtsilä had approximately 39,900 shareholders at the end of the financial period 2017. Foreign shareholding, including nominee-registered shares, represented 55.9% (55.0) at the end of the period, and Finnish retail investors held 17.7% of the share capital (18.4). The largest shareholder was Investor AB with 34,866,544 shares or 17.7% of the share capital. Further information concerning shareholder base development can be found on the Wärtsilä IR pages at www.wartsila.com/investors.

Ownership structure on 31 December 2017
Group Number of shareholders % Number of shares %
Private corporations 1 401 3.5 15 278 487 7.7
Banks and insurance companies 60 0.2 4 333 981 2.2
Public sector entities 44 0.1 20 075 089 10.2
Non-profit organisations 834 2.1 12 423 031 6.3
Households 37 212 93.4 34 829 847 17.7
Outside Finland 310 0.8 36 898 320 18.7
Nominee registered 73 402 375 37.2
Total 39 861 100.0 197 241 130 100.0
Ownership structure 31 December 2017.svg
Division of shares on 31 December 2017
Number of shares Number of shareholders % Number of shares %
1-100 13 505 33.9 675 507 0.3
101-1 000 19 013 47.7 7 582 922 3.8
1 001-10 000 6 666 16.7 18 238 762 9.2
10 001-100 000 606 1.5 14 488 730 7.3
100 001-1 000 000 61 0.2 15 321 812 7.8
1 000 001-10 000 000 7 0.0 11 522 523 5.8
10 000 001- 3 0.0 56 008 499 28.4
Nominee registered 73 402 375 37.2
Total 39 861 100.0 197 241 130 100.0

Wärtsilä's 50 major shareholders on 31 December 2017, excluding nominee registered
Owner Shares %
1 Invaw Invest AB, a wholly-owned subsidiary of Investor AB 34 866 544 17.68
2 Fiskars Corporation 10 881 781 5.52
3 Varma Mutual Pension Insurance Company 10 260 174 5.20
4 Ilmarinen Mutual Pension Insurance Company 2 984 934 1.51
5 The Social Insurance Institution of Finland 1 935 910 0.98
6 Elo Mutual Pension Insurance Company 1 505 000 0.76
7 Svenska Litteratur-sällskapet i Finland rf 1 495 784 0.76
8 State Pension Fund 1 480 000 0.75
9 Keva 1 107 327 0.56
10 Sijoitusrahasto Nordea Pro Suomi 1 013 568 0.51
11 The Finnish Cultural Foundation 973 480 0.49
12 Jenny and Antti Wihuri Foundation 900 000 0.46
13 Sigrid Jusélius Foundation 866 475 0.44
14 Schweizerische Nationalbank 658 661 0.33
15 Savox Investments S.a. 570 000 0.29
16 Oy Ingman Finance Ab 560 000 0.28
17 Rantanen Tuula Anneli 505 066 0.26
18 The Signe and Ane Gyllenberg foundation 497 888 0.25
19 Samfundet Folkhälsan i Svenska Finland rf 478 200 0.24
20 Louise och Göran Ehrnrooth Stiftelse sr 352 630 0.18
21 Livränteanstalten Hereditas Ab 334 690 0.17
22 Blåberg Olli Edvard 320 000 0.16
23 Folkhälsan i Svenska Finland rf Inez och Julius Polins Fond 279 600 0.14
24 Sijoitusrahasto Nordea Suomi 276 160 0.14
25 Fromond Elsa Margaretha Louise 275 500 0.14
26 Sijoitusrahasto Nordea Pohjoismaat 272 814 0.14
27 Stockmann Marita 271 226 0.14
28 William Thurings Stiftelse sr 269 650 0.14
29 Holding Manutas Oy 255 000 0.13
30 Sijoitusrahasto Seligson & Co 252 261 0.13
31 Sijoitusrahasto Aktia Capital 250 000 0.13
32 Von Fieandt Berndt Johan 235 382 0.12
33 Åbo Akademi Foundation 218 610 0.11
34 Brita Maria Renlund Foundation 213 600 0.11
35 Mandatum Henkivakuutus-osakeyhtiö 208 064 0.11
36 Sijoitusrahasto Nordea Suomi Indeksirahasto 205 198 0.10
37 Holdix Oy Ab 204 050 0.10
38 Sr Danske Invest Suomi Yhteisöosake 201 912 0.10
39 Seb Finlandia Sijoitusrahasto 193 078 0.10
40 Markkola Leena 172 500 0.09
41 Folkhälsans Forskningsstiftelse - Kansanterveyden tutkimussäätiö 172 068 0.09
42 Barry Staines Linoleum Oy 166 570 0.08
43 Perceval Ann-Marie Caussin De 166 280 0.08
44 Karlsson Anne Christine 160 000 0.08
45 Suomen Kauppayhtiöt Oy 158 400 0.08
46 Etera Mutual Pension Ins. Company 154 679 0.08
47 Sijoitusrahasto Evli Suomi Select 152 500 0.08
48 Brotherus Pia Monica 151 002 0.08
49 Odin Finland 141 505 0.07
50 Ella and Georg Ehrnrooth Foundation 141 500 0.07
Total 80 367 221 40.75

Changes in ownership – flagging notifications

Under the provisions of the Finnish Securities Markets Act, shareholders of listed companies have an obligation to notify both the Finnish Financial Supervision Authority and the listed company of changes in their holdings. The table below summarises the flagging notifications received by Wärtsilä during 2017, further information can be found on Wärtsilä’s webpage.

Release date Transaction date Shareholder Threshold Direct holding, % Total holding, %
23.11.2017 22.11.2017 BlackRock Investment Management (UK) Limited Above 5% 4.63 5.05
30.11.2017 29.11.2017 BlackRock Investment Management (UK) Limited Above 5% 5.10 5.47

Management holdings

The members of the Board of Directors, the President & CEO, the CEO's deputy, and the corporations under their control, owned altogether 65,374 shares in Wärtsilä Corporation at the end of 2017, which represents 0.03% of the stock and voting rights. Further details on the Board of Directors' and Board of Management’s ownership of shares can be found in the Corporate Governance section.

Authorisations granted to the Board of Directors

The Annual General Meeting, held on 2 March 2017, authorised the Board of Directors to resolve to repurchase a maximum of 19,000,000 of the Company's own shares. The authorisation to repurchase the Company’s own shares shall be valid until the close of the next Annual General Meeting, however for no longer than 18 months from the authorisation of the shareholders’ meeting.

The Board of Directors was authorised to resolve to distribute a maximum of 19,000,000 of the Company’s own shares. The authorisation for the Board of Directors to distribute the Company’s own shares shall be valid for three years from the authorisation of the shareholders’ meeting and it cancels the authorisation given by the General Meeting on 3 March 2016. The Board of Directors is authorised to resolve to whom and in which order the Company’s own shares will be distributed. The Board of Directors is authorised to decide on the distribution of the Company’s own shares other than in proportion to the existing pre-emptive right of the shareholders to purchase the Company’s own shares.

The Board of Directors' dividend proposal

The Board of Directors proposes that a dividend of 1.38 euro per share be paid for the financial year 2017. The dividend will be paid in two instalments. 

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