Stockmann - Inside information

Board of Adjustment annulled most of additional taxes imposed on Stockmann for the years 2009–2011

STOCKMANN plc, Inside Information 3.10.2017 at 9:30 EET

The Board of Adjustment has reached its decision on Stockmann’s claim for
rectification relating to the Finnish Tax Administration’s decision on
additional taxes for the years 2009–2011. According to the earlier decision,
published on 13 January 2016, Stockmann would have been required to pay EUR 10.3
million in additional taxes and related interest. The Board of Adjustment
annulled EUR 7.7 million of the additional tax imposed on Stockmann.
Consequently, the additional tax will be EUR 2.6 million.

The decisions are related to a tax audit which examined transfer pricing and the
market basis of interest rates in the Stockmann Group’s internal financing
between Finland and Russia during 2009-2011. Stockmann considered the Tax
Administration’s reassessment decision to be unfounded and appealed against it.

The additional taxes were booked in full in the financial statements and result
for 2015. In line with the Board of Adjustment’s decision, Stockmann will return
EUR 7.7 million to its third quarter income statement in 2017. The time for
appeal is 60 days from receiving the decision.

The processing of appeals regarding Stockmann’s additional taxes in Sweden is
still ongoing.

Further information:
Kai Laitinen, CFO, tel. +358 9 121 5800

www.stockmanngroup.com

STOCKMANN plc

Lauri Veijalainen
CEO

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Nasdaq Helsinki
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