Honkarakenne Oyj

Earnings Release • Dec 16, 2021

HONKARAKENNE ADOPTS A NEW STRATEGY

HONKARAKENNE ADOPTS A NEW STRATEGY

HONKARAKENNE OYJ Stock exchange release 16 December 2021 at 9:00 a.m.

HONKARAKENNE ADOPTS A NEW STRATEGY

Honkarakenne Oyj’s Board of Directors has made a decision on the company’s new strategy.

The aim of the strategy, which will be in force until the end of 2024, is to strengthen Honkarakenne Oyj’s position as Finland’s largest exporter of wooden buildings. With the new export-driven strategy, the company is seeking to increase its net sales in the new strategy period with a focus on profitability. The profitability targets are driven by process efficiency, while significantly enhancing both the customer and employee experience.

Our goal is to become the leader in environmentally friendly and healthy housing in our chosen market areas, with the mission of improving the quality of people’s lives and housing.

The following are Honkarakenne’s strategic objectives for the 2022–2024 period:

• Increasing exports by focusing on and allocating resources to selected markets
• Increased profitability through further enhancing the customer and employee experience
• A responsible leader focused on health and the future

In addition to the Board of Directors and the Executive Group, the strategy was prepared with the participation of the strategy working group and all the staff by means of staff surveys.

To implement the strategy, the company has prepared a plan covering all of its key operations. The progress and implementation of the strategy is monitored by the Board of Directors and the Executive Group, including the steering and project groups that operate under its control.

Please note that Honkarakenne does not consider long-term targets as market guidance for any single year of the strategy period.

Honkarakenne Oyj

Marko Saarelainen

President and CEO

FURTHER INFORMATION

Marko Saarelainen, President and CEO, tel. +358 40 542 0254, marko.saarelainen@honka.com

Maarit Jylhä, Vice President – Finance, CFO, tel. +358 40 594 4099, maarit.jylha@honka.com

DISTRIBUTION

Nasdaq Helsinki Ltd

Key media

Financial Supervisory Authority

www.honka.com

Honkarakenne supplies high-quality, healthy and ecological log homes, holiday homes and public buildings. Its buildings are made from Finnish solid wood under the Honka® brand. The company has delivered over 85,000 buildings to more than 50 countries. We manufacture our home packages in Finland, at our own factory located in Karstula. In 2020, Honkarakenne Group’s consolidated net sales totalled EUR 52.9 million, of which exports accounted for 30%. www.honka.com