Acquisition of Pohjola Bank plc shares

OP Cooperative (formerly OP-Pohjola Group Central Cooperative) completed its public voluntary bid announced in February 2014 and gained ownership of all Pohjola Bank plc shares by decision of the Arbitral Tribunal in accordance with Chapter 18, Section 6 of the Finnish Limited Liability Companies Act. As a result of the decision of the Arbitration Court, trading in the series A shares of Pohjola Bank plc ceased on 29 September 2014, and the shares were removed from the Helsinki Stock Exchange on 30 September 2014. On 7 October 2014, OP Cooperative was entered as the only shareholder in Pohjola Bank plc's shareholder register. Pohjola Bank plc shares were removed from the book-entry system on 28 November 2014.

According to the Redemption Committee, the squeeze-out procedure instituted by the Arbitration Court will last an average of approximately six months. On this basis, the overall redemption proceedings pertaining to Pohjola’s minority shares are expected to last until the first half of 2015. OP Cooperative paid the undisputed part of the redemption price to Pohjola's minority shareholders on 29 October 2014.