Funding and Rating

Funding

Sampo Group's funding consists of senior debt instruments and subordinated obligations eligible for Solvency Capital.

Sampo plc's subsidiaries carrying out P&C and/or Life insurance business use subordinated obligations as part of their Solvency Capital in accordance with internal capitalization targets and in compliance with regulatory rules. Maturities and other terms of such liabilities are largely determined by regulatory rules and by Rating Agencies' criteria. P&C and Life insurance companies do not currently use senior debt as a source of funding.

At the Group's parent company, Sampo Plc, the primary motive for debt is liquidity management and long term funding of operations. Potential strategic arrangements are the major reason for long term funding needs. As regards Sampo Plc's long-term funding, the primary source is public issues of Bonds and Notes under Sampo's Euro Medium Term Note -programme.

• The most recent Base Prospectus (April 8th, 2010) can be downloaded here.
• Terms of outstanding issues under the EMTN Program can be reviewed by accepting this disclaimer.

Sampo Plc is also issuing private placements with separate documentation in retail markets. Loans and revolving credit facilities may also be used as a funding and liquidity management tool.

The issuing of domestic commercial papers (CP) is the primary source of Sampo plc's short-term funding. Sampo issues CPs in maturities preferred by investors with the aim of maintaining the outstanding amount of issuance in a manner that is as stable as possible.

Ratings

The following Group companies are rated by international rating agencies:

Further information on rating definitions etc can be found on the homepages of rating agencies:

• Moody's
• Standard and Poor's