CapMan Oyj — Management Reports 2021

Apr 28, 2021

Changes in the composition of CapMan Group’s reportable segments

Changes in the composition of CapMan Group’s reportable segments

CapMan Plc Stock Exchange Release
28 April 2021 at 9.15 a.m. EEST

Changes in the composition of CapMan Group’s reportable segments

CapMan Plc (“CapMan”) will change the composition of its reportable segments to
reflect the current structure of the Group business and its income streams. As
of January 1, 2021, CapMan will report the CapMan Wealth Service business as
part of the Management Company business segment. Prior, the business was
reported as part of Service business. CapMan Group’s reportable segments are the
Management Company business, Service business and Investment business.

In the updated reporting structure, income from the Management Company business
is derived from fee income received from funds, fees from other services closely
related to fund management, fees from wealth advisory service (CapMan Wealth
Services) and carried interest received from funds. Following the update,
turnover from the Management Company business is predominantly derived from
services transferred over time and is as such recurring in nature. Turnover for
the segment also includes income recognised at a certain point in time.

Following the update, Service business income is derived from fees from CapMan’s
procurement service CaPS and fees from reporting, analytics and back-office
services provided by JAY Solutions. Turnover from the Service business is
predominantly derived from services transferred over time and is as such
recurring in nature.

The update to the reporting structure is based on the equal reporting treatment
of management fees as well as similarities between fund and asset management and
wealth advisory service customers. In addition, both management fees obtained
from funds and fees from wealth advisory services are income dependent on assets
or capital under management.

Going forward, CapMan no-longer reports interest income and expenses, income
taxes, profit for the period or non-current assets at segment level as CapMan’s
Management Group does not monitor this information by segment. The information
is provided on a Group level.

The composition of other reporting segments remains intact.  Through its
Investment business, CapMan invests from its own balance sheet in the private
equity asset class and mainly in its own funds. Income in this business segment
is generated by realised returns following exits and periodic returns as well as
changes in the fair value of unrealised investments.

Other activity includes the corporate functions not allocated to operating
segments. These functions include part of the activities of group accounting,
corporate communications, group management and costs related to share-based
payment. Other also includes the eliminations of the intersegment transactions.

CapMan Group’s financial reporting will be changed accordingly as of the first
-quarter interim report 2021. The segment information according to the new
segment structure for the comparison year 2020 on a quarterly basis is disclosed
in the attachment of this stock exchange release.

For additional information, please contact:

Niko Haavisto, CFO, CapMan Plc, tel. +358 50 465 4125

CAPMAN PLC

Distribution

Nasdaq Helsinki Ltd
Principal media
www.capman.com

Appendix

Restated comparable segmentinformation for financial year 2020

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value
creation. We offer a wide selection of investment products and services. As one
of the Nordic private equity pioneers, we have developed hundreds of companies
and real estate assets and created substantial value in these businesses and
assets over the past 30 years. With close to €4 billion in assets under
management, our objective is to provide attractive returns and innovative
solutions to investors. We have a broad presence in the unlisted market through
our local and specialised teams. Our investment strategies cover Private Equity,
Real Estate and Infra. We also have a growing service business that includes
procurement services, wealth management, and analysis, reporting and back office
services. Altogether, CapMan employs around 150 people in Helsinki, Stockholm,
Copenhagen, London and Luxembourg. We are a public company listed on Nasdaq
Helsinki since 2001 and a signatory of the UN Principles for Responsible
Investment (PRI) since 2012. Read more at www.capman.com.

Attachments: