Olvi Oyj

Business and Financial Review • Nov 21, 2022

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Olvi Oyj - Inside information

Olvi Changes Treatment of Assets Held for Sale and Withdraws its Near-term Outlook

Olvi plc Inside information 21 November 2022 at 5.45 pm Olvi Changes Treatment of Assets Held for Sale and Withdraws its Near-term Outlook Legislation regulating the sale of foreign companies in Belarus has recently tightened. Therefore, the sale of Lidskoe Pivo, a subsidiary operating in Belarus, is not likely within the next 12 months. In accordance with accounting standard the Belarusian operations can no longer be classified as assets held for sale but to return back to the consolidated reporting. Previously, according to the near-term outlook in the interim report published on 19 October 2022 the company`s management believed that the divestment would be implemented within the next 12 months. Olvi changes its near-term outlook by withdrawing it due to accounting treatment of Lidskoe Pivo and uncertainty in business environment. Previous outlook: “The operating profit from continuing operations in 2022 is expected to decrease from the previous year” was published in the interim report on 19 October 2022. The outlook did not include business operations of Lidskoe Pivo. More information: Olvi plc Lasse Aho, Managing Director, tel. +358 400 203600 Tiina-Liisa Liukkonen, CFO, tel. +358 41505 4779 DISTRIBUTION: NASDAQ OMX Helsinki Ltd Key media outlets www.olvi.fi