Strategic Review of Tietoevry’s Connect and Transform Business Progresses – Satu Kiiskinen Named General Manager of the Combined Company Effective April 1, 2023

Tietoevry Corporation STOCK REPORT February 13, 2023 2:00 PM EET

As announced in November 2022, Tietoevry is conducting a strategic review of its Tietoevry Transform and Tietoevry Connect as a combined company, including a possible sale or listing as a spin-off. Satu Kiiskinen will be appointed general manager to lead the combined company and drive strategic review. The combined company, which will be called Tietoevry Tech Services, is expected to be operational in the second quarter of 2023. Tietoevry Tech Services will specifically focus on managed services and application, infrastructure and cloud transformation.

Satu Kiiskinen is currently Managing Director of Tietoevry Transform and has been with the company since 2013, holding leadership positions in various business areas over the years. She remains a member of the Tietoevry Group Executive Management Team and reports to Kimmo Alkio, CEO of Tietoevry.

“I am very excited to take on the new role and fully embark on this special journey with over 8,000 colleagues worldwide. We are creating a winning combination of capabilities – building on our market position, competitive services and global delivery capability – to the benefit of our Nordic companies and public sector customers,” said Satu Kiiskinen.

“This is an important appointment in light of the integration of the companies and the ongoing strategic review. Satu brings a broad range of experience in the technology services landscape, consistent customer value creation and adaptation to rapidly changing market conditions. I look forward to the next exciting chapter for the entire Tietoevry Tech Services team,” said Kimmo Alkio, CEO of Tietoevry.

During the first quarter of 2023, Tietoevry Connect and Tietoevry Transform will continue to operate as separate companies under the leadership of the current Managing Directors. The combined Tietoevry Tech Services business is planned to be operational and reporting its financials beginning in Q2 2023, as a new reportable segment. The appointment of the Managing Director of Tietoevry Tech Services will take effect on April 1. The future plans and role for Johan Torstensson, currently Managing Director, Tietoevry Connect, will be communicated in due course.

The strategic review of the combined Tietoevry Transform and Tietoevry Connect and subsequent potential sale or listing as a spin-off is progressing as planned and is expected to take 12-18 months from the November 30, 2022 announcement date. While no decisions have been made, any sale or listing as a spin-off remains subject to market conditions, including but not limited to prevailing macroeconomic conditions and investor sentiment.

For more information, please address:

Tommi Järvenpää, Head of Investor Relations, tel. +358 40 576 0288, tommi.jarvenpaa (at) tietoevry.com
Tietoevry Communications, tel. +358 40 570 4072, news (at) tietoevry.com

Tietoevry Corporation

DISTRIBUTION

NASDAQ Helsinki
NASDAQ Stockholm
Oslo Stock Exchange

Main media

Tietoevry creates purposeful technology that reinvents the world for good. We are a leading technology company with a strong Scandinavian heritage and global capabilities. Based on our core values ​​of openness, trust and diversity, we partner with our clients to build a digital future where businesses, societies and humanity thrive.

Our 24,000 experts worldwide specialize in cloud, data and software, serving thousands of corporate and public customers in more than 90 countries. Tietoevry’s annual turnover is approximately EUR 3 billion and the company’s shares are listed on the NASDAQ stock exchange in Helsinki and Stockholm, as well as Oslo Børs. www.tietoevry.com