Pihlajalinna Oyj

Major Shareholding Notification • May 12, 2023

Pihlajalinna Plc: Flagging announcement in accordance with Chapter 9, Section 10 of the Securities Markets Act

Pihlajalinna Plc Stock exchange release 12 May 2023 at 8:30

Pihlajalinna Plc: Flagging announcement in accordance with Chapter 9, Section 10 of the Securities Markets Act

Pihlajalinna Plc has on 11 May 2023 received a notification under Chapter 9, Section 5 of the Securities Market Act, according to which the holding of Fennia Mutual Insurance Company in Pihlajalinna Plc's shares and votes has risen above 10 per cent on 11 May 2023. The holding of Fennia Mutual Insurance Company has increased to 10.004% and 2,262,965 shares of the total of Pihlajalinna's shares and votes.

The flagging notification was due to an arrangement whereby Fennia Life (subsidiary) sold 264,000 shares to Fennia Mutual Insurance Company (parent company). As a result of the transaction, the total holding of Fennia Group (2,336,482 shares and 10.33%) of Pihlajalinna's shares and votes will not change.

Pihlajalinna has a total of 22,620,135 shares. Each share entitles its holder to one (1) vote.

Total positions of Fennia Group:

	% of shares and votes	% of shares and votes through financial instruments	Total %	Total number of shares and votes in the target company
Holding after reaching or exceeding the flagging notification threshold	10.33%	0%	10.33%	22,620,135
Holding reported in the previous flagging notification (if flagged)	10.02%	0%	10.02%

Information on the share of ownership and voting rights after the exceeding of the flagging notification threshold:

A: Shares and votes

Series of	Number of shares and votes		% of shares and votes
shares/share type
	Direct (AML 9:5)	Indirect (AML 9:6	Direct (AML 9:5)	Indirect (AML 9:6
		and 9:7)		and 9:7)
FI4000092556	2,262,965	73,517	10.004%	0.325%
A Total	2,336,482		10.33%

Details of the party obligated to submit the flagging notification:

The entire chain of control (starting from the controlling natural or legal person) through which the shares, voting rights or financial instruments are controlled:

Name	% of shares and votes	% of shares and votes through financial instruments	Total shares, votes and financial instruments
Fennia Mutual Insurance Company	10.004%	0%	2,262,965
Fennia Life	0.325%	0%	73,517

Further information:

Tarja Rantala, CFO, +358 40 774 9290 or tarja.rantala@pihlajalinna.fi Tuula Lehto, VP, Communications and Sustainability, +358 40 5885 343 or tuula.m.lehto@pihlajalinna.fi

Distribution:

Nasdaq Helsinki Major media investors.pihlajalinna.fi

Pihlajalinna in brief

Pihlajalinna is one of the leading providers of private healthcare and wellbeing services in Finland. The Group produces doctor's appointment services and specialised care, occupational healthcare services and residential and welfare services. To public entities Pihlajalinna offers social and healthcare service production models, in which the cooperation between the public and private sectors guarantees highquality services for citizens. In 2022, Pihlajalinna's revenue was 690.5 million euros. More than 7,000 employees and 2,000 practitioners work at Pihlajalinna. Pihlajalinna's shares are listed on Nasdaq Helsinki Oy. Read more www.pihlajalinna.fi.