Olvi Oyj

Management Reports • Feb 20, 2023

Disclosure 428499

Olvi Oyj - Inside information

Olvi Cancels Its' Financial Outlook

Olvi plc Inside information 20 February 2023 at 9.00 a.m. Olvi Cancels Its' Financial Outlook The State Control Committee of the Republic of Belarus have audited Olvi's subsidiary Lidskoe Pivo. Based on the audit, the State Control Committee have issued a fine for the value of 35,8 million Belarusian ruble (12,0 million euro*) to Lidskoe Pivo. Lidskoe Pivo have filed their objection with the local court. The proceedings are anticipated to take months. Due to the uncertain situation, Olvi will cancel the financial outlook published on the 10th of February 2023 and will not give a new outlook. The earlier outlook was “Olvi Group's adjusted operating profit for the 2023 financial year is expected to decrease year-on-year. Belarusian business operations involve uncertainty arising from the war in Ukraine and particularly from the impacts of exchange rates, which is why the segment's operating profit is expected to decrease. Sales volume and net sales are expected to develop favourably.” *Exchange rate applied: 1 BYN = 0,334 euro More information: Olvi plc Tiina-Liisa Liukkonen, CFO, Tel. +358 41505 4779 Patrik Lundell, CEO, Tel. +358 50 4775 181 DISTRIBUTION: NASDAQ OMX Helsinki Ltd Key media outlets www.olvi.fi