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Dec 18, 2014 at 4:45 AM

OP-Pohjola Group Central Cooperative and financial instrument issuer Pohjola adopt Group-level Communications and Disclosure Policy

Pohjola Bank plc OP-Pohjola Group Central Cooperative Stock Exchange Release 18 December 2014 OP-Pohjola Group Central Cooperative and financial instrument issuer Pohjola adopt Group-level Communications and Disclosure Policy OP-Pohjola Group Central Cooperative's Executive Board and Pohjola Bank plc's ("Pohjola") Board of Directors approved on 16 December 2014 OP-Pohjola Group's Group-level Communications and Disclosure Policy. This replaces the Disclosure Policy issued by Pohjola on 17 December 2013. The Communications and Disclosure Policy will be applied to financial instrument issuers Pohjola and OP Mortgage Bank ("OPA") that are part of the Group and to the communication principles and methods of OP-Pohjola Group. OPA's Board of Directors also approved the Policy on 18 December 2014. This change in the Communications and Disclosure Policy is related to OP-Pohjola Group Central Cooperative's the public voluntary bid for Pohjola shares, the delisting of Pohjola's series A shares from Helsinki Stock Exchange on 30 September 2014, and the reform of OP-Pohjola Group's management system and organisation. In the Group-level Communications and Disclosure Policy, bond issuers Pohjola and OPA and the parent institution OP-Pohjola Group Central Cooperative comply with Finnish legislation, the rules of NASDAQ OMX Helsinki and, when applicable, other stock exchanges, and the regulations and instructions issued by the Finnish Financial Supervisory Authority. In addition to the above, OP-Pohjola Group's communication takes into account Corporate Governance Recommendations and the Code of Business Ethics. The Group-level Communications and Disclosure Policy also covers the Communications and Disclosure Policy of financial instrument issuers Pohjola and OPA. The purpose of OP-Pohjola Group's Communications and Disclosure Policy is to ensure that all market participants have sufficient and accurate information concerning OP-Pohjola Group's decisions and any matter that may materially affect the value of securities issued by Pohjola and OPA. OP-Pohjola Group will decide upon disclosure of information on the basis of whether a decision or matter will affect the issuer's repayment capacity. Information with regard to securities issued by Pohjola and OP Mortgage Bank is decided upon on a case-by- case basis with the issuer. Responsibility for the issuer's disclosure obligation is held by each issuer. As stated in the Communications and Disclosure Policy, OP-Pohjola Group Central Cooperative's duty is to ensure that information concerning Pohjola and OPA that falls under periodic disclosure and continuous disclosure obligation is published, distributed and made available. The subsidiaries will report and publish their own interim reports, financial statements and reports by the Board of Directors. Information is published either jointly by OP-Pohjola Group and the issuer, or by the issuer on its own. The Communications and Disclosure Policy describes the key principles and policies followed by OP-Pohjola Group and issuers in their communication with capital market participants and other stakeholders. In addition, the Policy describes the disclosure, dissemination and storage of the information within the scope of periodic and continuous disclosure obligation. OP-Pohjola Group assesses the Policy's consistency, suitability and sufficiency on a regular basis, at least once a year. The Communications and Disclosure Policy uses terminology that will come in effect on 1 January 2015. OP-Pohjola Group will be changed to OP Financial Group and OP-Pohjola Group Central Cooperative to OP Cooperative. The Communications and Disclosure Policy is available on OP-Pohjola Group's website op.fi > OP Pohjola Group > Corporate Governance and on the Pohjola website pohjola.com > Investor Relations > Corporate Governance > Disclosure Policy. Pohjola Bank plc OP-Pohjola Group Central Cooperative Carina Geber-Teir Chief Communications Officer For more information: OP-Pohjola Communications, media contacts, tel. +358 (0)50 523 9904 DISTRIBUTION NASDAQ OMX Helsinki LSE London Stock Exchange Major media op.fi, pohjola.com Pohjola is part of Finland's leading customer-owned financial services group OP- Pohjola Group. Pohjola provides its customers with banking, non-life insurance and asset management services. Pohjola acts as OP-Pohjola Group's central bank and is responsible, together with OP Mortgage Bank, for the Group's funding in the money and capital markets. As laid down in the applicable law, Pohjola, its parent company OP-Pohjola Group Central Cooperative and other OP-Pohjola Group member credit institutions are ultimately jointly and severally liable for each other's debts and commitments. Joint and several liability within OP-Pohjola Group is based on the Laki talletuspankkien yhteenliittymästä Act (Act on the amalgamation of deposit banks). Financial services provider OP-Pohjola Group is continuing its revamp - this time the focus is on its brand. The changes under way form part of the creation of a new financial services group fully owned by its customers. As of 1 January 2015, OP-Pohjola Group will be called OP. www.pohjola.com The Group's mission is to promote the prosperity, well-being and security of its customer-owners, customers and operating regions through its local presence. Its objective is to offer the best and most versatile package of loyal customer benefits on the market. OP-Pohjola Group consists of about 180 member cooperative banks, its central institution OP-Pohjola Group Central Cooperative, and the latter's subsidiaries and affiliates. The Group has a staff of 12,000. www.op.fi [HUG#1881507]

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