EVLI PLC INSIDE INFORMATION, NOVEMBER 15, 2023, AT 3:00 PM (EET/EEST)

SUPPLEMENT: INSIDE INFORMATION: Evli expands its fund offering by acquiring the majority of Zenito Oy

Evli Plc supplements the inside information published on November 15, 2023, at 10.00 am. The original release is supplemented with information on the purchase price, payment method, timetable, financial information of the target company and the effects of the transaction. In addition, the headline of the release is supplemented with the reference to the inside information.

The supplemented stock exchange release in full below:

INSIDE INFORMATION: Evli expands its fund offering by acquiring the majority of Zenito Oy

Evli Plc has today, on November 15, 2023, signed an agreement to acquire a majority stake in the Finnish investment service company Zenito Oy. According to the agreement, Evli will purchase approximately 67 percent of Zenito Oy's shares. The remaining, about 33 percent of the shares, will be retained by the company's founders. The purchase price to be paid for the shares being acquired is approximately EUR 2.9 million and it will be paid with cash. The transaction is not expected to have a material impact on the issuer's operations.

Zenito Oy is a Finnish investment service company, whose specialized and active investment strategies have produced top results in their comparison groups. Zenito Oy’s revenue for the financial year 2022 was EUR 1.3 million (EUR 1.8 million in 2021) and respectively operating profit after fund management company fees EUR 0.4 million (EUR 1.9 million). At the end of the financial year 2022, Zenito Oy’s assets were EUR 0.8 million, liabilities EUR 0,0 million and equity EUR 0.7 million. The product offering of Zenito includes investment funds that are among the best in their international asset classes, including, the investment funds Fourton Hannibal, Zenito UK Value Fund, and the only precious metal mining fund in the Finnish investment market Zenito Silver and Gold. In addition to asset management services, Zenito Oy also publishes Zenostock.com, a web service specializing in finding and researching affordable listed companies.

"Zenito has a highly experienced team and high-quality products. We are pleased to welcome the company's employees to Evli," Maunu Lehtimäki, CEO of Evli comments. "The acquisition is a logical next step in Evli's strategic goal to become a leading Nordic wealth manager. The acquisition combines the expertise and resources of both companies, enabling a broader range of investment products for our clients."

"Collaboration with Evli perfectly meets the goals of our company: even better service for our clients, administrative assistance from Evli, and more time to focus on our core task, portfolio management. We appreciate Evli's long-term and successful focus on active investment strategies in particular,” says Zenito's founder and CEO, Petter Langenskiöld.

The completion of the transaction is subject to approval by the Financial Supervisory Authority. The transaction is expected to be finalised in the early part of 2024.

From the client's point of view, services will continue as before. With the completion of the transaction, clients will have access to an even more comprehensive range of products and services.

EVLI PLC

Additional information:
Maunu Lehtimäki, CEO, Evli Plc, tel. +358 50 553 3000, maunu.lehtimaki@evli.com

Evli Plc

We see wealth as an engine to drive sustainable progress. We draw on our heritage, broad expertise, and Nordic values to grow and manage wealth for institutions, corporations and private persons in a responsible way.

We are the best fund house in the Nordics¹ and the leading asset manager in Finland² offering a broad range of services including mutual funds, asset management and capital markets services, alternative investment products, equity research, share plan design and administration as well as Corporate Finance services. Responsible investing is integrated in every investment decision and our expertise is widely acknowledged by our clients. Evli has Finland's best expertise in responsible investment³.

Evli Group employs around 300 professionals and Evli has approximately EUR 17.1 billion in client assets under management (net 9/2023). Evli Plc’s B shares are listed on Nasdaq Helsinki Ltd.

¹ Lipper Fund Awards 2023.

² Morningstar Awards 2023 (c). Morningstar, Inc. All Rights Reserved. Awarded to Evli for the Best Fund House in Finland. Kantar Prospera External Asset Management Finland 2015, 2016, 2017, 2018, 2019, 2021, 2022, 2023. Kantar Prospera Private Banking 2019, 2020 Finland.

³ SFR Scandinavian Financial Research Institutional Investment Services Finland 2021, 2022. Kantar Prospera External Asset Management Finland 2023.

Distribution: Nasdaq Helsinki, main media, www.evli.com