Mandatum Oyj — Remuneration Information 2023

Oct 2, 2023

Mandatum to continue under Sampo's long-term incentive scheme

Mandatum to continue under Sampo's long-term incentive scheme

Mandatum plc, Stock exchange release/Other information disclosed according to
the rules of the Exchange, 2 October 2023 at 6:40 pm EEST

Following the partial demerger of Sampo plc, effective as of 1 October 2023 (the
“Demerger”) and the listing of Mandatum plc's share in Nasdaq Helsinki, Mandatum
plc's Board of Directors has today decided that Mandatum Group's key employees
and the Group CEO shall remain in the long-term incentive scheme 2020 launched
by Sampo in August 2020 and amended by Sampo in September 2023, to ensure
retention of such key employees.

The total number of Mandatum Group's participants in the long-term incentive
scheme is 31. The number of the incentive units allocated is 558,250 in total
for the Mandatum Group. The incentive scheme complies with the Sampo Group
Remuneration Principles, and the remuneration policies of the relevant Mandatum
Group companies, as applicable at the launch of the scheme. Mandatum Board
Members are not included in the scheme.

The allocation of incentive units was based on a combination of the assessment
of the performance of the individual, of the business area and/or business unit
concerned and of the overall results of the relevant Sampo Group company, the
division and/or of Sampo Group, Mandatum being then a part of Sampo Group. Also
qualitative criteria was taken into account in the assessment, such as the
compliance with internal and external rules for the business.

The potential incentive reward will be paid in three installments, first of
which has been paid in September 2023, prior to the Demerger. A deferral rule
applies to incentive rewards paid to key employees who were subject to the
deferral rule in accordance with the remuneration policies of the relevant
Mandatum Group companies in force at the launch of this incentive scheme.

The incentive rewards to be paid shall be based on the share price development
of the Sampo A share and Mandatum share, on the return on capital at risk and on
the number of theoretical incentive units granted. The threshold values for the
performance conditions and the calculation method for the value of one (1)
incentive unit in each installment to be paid are presented in the terms and
conditions of the incentive scheme 2020 (as amended), available
at www.sampo.com/governance/remuneration/forms-of-remuneration/. The starting
price, the maximum value and a theoretical market price for the scheme are
available at the same address.

The value of one (1) incentive unit in the installments to be paid in 2024 shall
be the combined value of the trade-weighted average price of the Sampo A share
on Nasdaq Helsinki Ltd for twenty-five (25) trading days commencing the day
after Sampo plc's publication of its Half-Year Financial Report in 2024 and the
trade-weighted average price of the Mandatum plc share on Nasdaq Helsinki Ltd
for twenty-five (25) trading days commencing the day after Mandatum plc's
publication of its Half-Year Financial Report in 2024, but not more than the
maximum value (being EUR 56.94 for the units allocated in 2020), reduced by the
starting price.

The starting price shall be the trade-weighted average price of the Sampo A
share on Nasdaq Helsinki Ltd during twenty-five (25) trading days commencing the
day after Sampo plc's publication of its Half-Year Financial Report in 2020
(being EUR 32.94 for the units allocated in 2020), reduced by the combined
dividends per share of Sampo plc and Mandatum plc decided up until the payment
date, including, for the avoidance of doubt, any extra dividends as decided by
the Board of Directors of the respective company.

Further installments to be paid shall be determined respectively as described in
the terms and conditions available on Sampo's website.

The core of the remuneration principles is that all remuneration systems shall
safeguard the long-term financial stability of the Group and shall comply with
regulatory and ethical standards. Risk sensitive but fair and rewarding
compensation mechanisms enhance Mandatum Group's ability to create stakeholder
and shareholder value.

For further information, please contact:

Niina Riihelä
Senior Vice President, Marketing and Communications, Mandatum plc
Tel. +358 40 728 1548
niina.riihela@mandatum.fi

Distribution:
Nasdaq Helsinki
Financial Supervisory Authority
The principal media
www.mandatum.fi

Mandatum in brief

Mandatum is a major financial service provider that combines expertise in money
and life. Mandatum offers customers a wide array of services covering asset and
wealth management, savings and investment, compensation and rewards, pension
plans and personal risk insurance. Mandatum offers services to corporate
clients, private customers and institutional and wealth management customers.
The success of Mandatum's business relies on competent personnel, a strong brand
and successful investments.
mandatum.fi/en/group (https://www.mandatum.fi/en/group/)