Suomen Lauttaliikenne Group Annual Report and Corporate Social Responsibility Report 2025

Annual Report and Corporate Responsibility Report 2025

What water separates, Finferries connects

Maintaining efficient connections in a land spotted with thousands of lakes and islands requires ferries, cable ferries and commuter ferries.

Suomen Lauttaliikenne Group’s vessels transport millions of vehicles and passengers every year. We operate in delicate maritime and lake environments, and we strive to do so in a way that respects nature.

Suomen Lauttaliikenne and Suomen Saaristovarustamo have common management. The land organisation’s offices are located in Turku and Savonlinna.

Ferry, cable ferry and commuter ferry users know the Group by the trade name Finferries.

Our largest clients are the Southwest Finland Economic Development Centre and the Government of Åland in Åland. Our other clients include, among others, private road maintenance associations and operators who rent vessels.

Suomen Lauttaliikenne is responsible for ferry, cable ferry and commuter ferry traffic throughout Finland on a total of 51 routes. We serve our passengers with a team of more than 350 professionals.

Suomen Lauttaliikenne Oy’s shares are wholly owned by the State of Finland. The Group also includes Suomen Saaristovarustamo Oy, which is wholly owned by Suomen Lauttaliikenne, and Ålands Skärgårdsrederi Ab (Axferries), which operates in Åland and of which

Suomen Lauttaliikenne is a proven reliable partner that modernises its operations and renews its fleet in order to continuously improve safety and reduce the burden on waterways.

We are a dynamic, efficient and responsible water traffic expert. We create quality and reliable customer experiences using the latest environmentally friendly technology.

What water separates, Finferries connects –responsibly and sustainably.

CEO’s Review

For our company, 2025 was a time of renewal, growth and resolute development. We play a critical role in society – we connect people and businesses across bodies of water, every day, no matter the conditions. The past year proves, once again, that long-term strategy work, strong operational expertise and committed personnel yield results.

Brand renewal – a visible step into the future

In October, we launched the Group’s brand renewal. Our yellow vessels will be gradually repainted white, and we chose blue and light blue as the primary colours to symbolise clean water, clean air and a sustainable

future. The renewal is not just a visual transformation, but sends a message about our chosen path: modern, responsible and technologically advanced water traffic.

The first vessels to feature the new colour scheme were the Parainen–Nauvo route’s ferries Altera and Elektra, as well as the Nauvo–Korppoo route’s cable ferries L­197 and L­198.

Towards emission-free traffic

In line with our strategy, we continued to invest in environmental friendliness and the electrification of our vessels. Our routes pass through delicate archipelago and lake environments, which obligates us to act as a leader in environmental responsibility.

Our goal is to reduce the Group’s emissions by 94 per cent by 2035 compared to the 2016 level. Our long­term goal is, in practice, emission­free traffic. In the year under review, we succeeded in reducing CO₂ emissions per nautical mile by 19.0 per cent compared to 2016 – a record­high result which reinforces our chosen path.

A significant individual measure was the conversion of the ferry Stella into a battery­hybrid ferry. The conversion is estimated to reduce the vessel’s fuel consumption and emissions by approximately 50 per cent. The vessel was converted during the review period, but the vessel began operating on its route in February 2026. This is a significant step towards our goal, as the Korppoo–Houtskari route along which L/A Stella operates is our company’s longest.

We invest systematically in battery­hybrid vessels, shore power solutions and energy­efficiency improving technologies. In the autumn, the first new cable ferries will begin operating in the Finnish lake district and an electric cable ferry will be completed for the Pellinki route – a concrete step towards the 2035 target.

Growth in new markets

In April, we opened a new chapter in our company history with the launch of the Kruunuvuorenranta route in Helsinki on 1 April 2025. The commuter ferry ms Kökar began operating along the route, bringing the total number of routes from 50 to 51. The new route offers us a stronger foothold in the Helsinki metropolitan area’s market and reinforces our position as a national operator.

In addition, the Group’s associated company Axferries operates on the four main routes in the Åland Islands, deepening our co­operation with the region and supporting the vitality of the archipelago.

The appeal concerning the Finnish lake district tender was dismissed by the Market Court, after which we signed a 20­year agreement on the operation of 12 cable ferries with the Southwest Finland Economic Development Centre (previously the Southwest Finland ELY Centre) in October. This strengthens our position in inland water traffic and lays the foundation for longterm development of our fleet.

AxYards – a strategic investment in the future

During the review period, the Government of Åland and Suomen Saaristovarustamo Oy signed a letter of intent to establish a new shipyard, AxYards. If the project is realised, the shipyard will be the first newly established dry dock in Finland in over thirty years.

The goal of the future shipyard is to secure future dockings in Åland and for our Group companies, to

In the customer survey, we received our highest score ever: 9.06 on a scale of 1 to 10. This is an indication of the quality of service and our personnel’s professional skills.

strengthen security of supply and enable the building of new, eco­friendly vessels in Finland. The project is strategically important for the entire Finnish maritime cluster.

However, the realisation of the project requires a business plan which demonstrates that the operations will be profitable and sustainable in the long term. Decisions concerning the project’s advancement will be made based on careful market analysis, investment calculations and risk assessment.

Customer satisfaction and a cultural change

We carried out our annual customer and employee surveys together with Bondata Group Oy. In the customer survey, we received our highest score ever: 9.06 on a scale of 1 to 10. This is an indication of the quality of service and our personnel’s professional skills.

The commuter ferry reservation system, which already has more than 30,000 users, received an excellent score for ease of use. Developing digital solutions is a key part of our strategy.

In the employee survey, the overall employer score rose to 4.9, an improvement of 0.2 units from last year. The cultural change can be seen even more clearly in our daily work: openness, self direction and accountability are establishing themselves at the core of our practices. Safety and quality remain the foundation for everything we do.

Thank you for your confidence in us

I would like to express a warm thanks to our passengers, contract clients, owners, partners and the entire staff for the past year. Together, we are building safe, service­oriented and environmentally friendly water traffic – infrastructure that facilitates a living archipelago and a functioning Finland. We will continue to work determinedly to achieve the 2035 goal and virtually emission­free traffic.

Håkan Fagerström CEO Suomen Lauttaliikenne Group

Our routes and vessels

31 December 2025

The ferries that operate on Suomen Lauttaliikenne’s routes are classified into three vessel types: ferries, commuter ferries and cable ferries.

FERRIES – 7 ROUTES

1 Parainen–Nauvo

2 Korppoo–Houtskari

3 Korppoo–Norrskata

4 Hailuoto

COMMUTER FERRIES – 12 ROUTES

8 Kotka–Pyhtää route: Otava

9 Velkua route: Kaita

10 Parainen route: Viken

11 Houtskari route: Finnö

CABLE FERRIES – 32 ROUTES

20 Barösund, Inkoo

21 Eskilsö, Kaskinen

22 Hämmärönsalmi, Rymättylä

23 Högsar, Nauvo

24 Högsåra, Kemiönsaari

25 Keistiö, Iniö

26 Kivimo, Houtskari

27 Kokkila, Halikko

28 Mossala, Houtskari

29 Nauvo–Korppoo

30 Palva, Velkua

31 Pellinki, Porvoo

5 Kasnäs–Hiittinen

6 Iniö–Kustavi

7 Houtskari–Iniö

12 Iniö additional route: Kivimo

13 Nauvo southern route: Falkö

14 Nauvo transverse route

15 Nauvo northern route: Innamo

16 Utö route: Utö

17 Hiittinen route: Jurmo

18 Rymättylä route: Isla

19 Kruunuvuorenranta route: Kökar

32 Saverkeit, Houtskari

33 Skagen, Iniö

34 Skåldö, Tammisaari

35 Vartsala, Kustavi

36 Velkuanmaa, Velkua

37 Våno, Parainen

38 Alassalmi, Vaala

39 Kietävälä, Puumala

40 Hanhivirta, Enonkoski

41 Hirvisalmi, Juuka

42 Hätinvirta, Puumala

43 Koivukanta, Savonlinna

44 Kortesalmi, Kuopio

45 Kuparonvirta, Mikkeli

46 Kyläniemi, Ruokolahti

47 Lamposaari, Lappeenranta

48 Puutossalmi, Vehmersalmi

49 Rongonsalmi, Puumala

50 Räisälä, Kemijärvi

51 Tappuvirta, Savonlinna

The company’s affiliated company Ålands Skärgårdsrederi

Ab’s main routes in Åland.

Corporate Responsibility Report 2025

Corporate Responsibility

During the review period, Suomen Lauttaliikenne assessed the climate risks and nature impacts related to its operations. The company drew up a Code of Conduct and updated its procurement policy.

Assessment of nature impacts

Biodiversity and ecosystems have been identified as one of Suomen Lauttaliikenne’s material sustainability topics. The vessels operate in delicate archipelago and lake environments which are home to endangered and protected species, such as the Saimaa ringed seal and numerous bird species.

The nature impacts were assessed for the entire supply chain. Especially the procurement of metals and fuels, including mining and oil drilling, have a significant impact.

The main focus was on the operating of the vessels and its possible local impacts. The location of each route in relation to significant natural sites was reviewed. National parks, protected areas, Natura 2000 areas and the Saimaa ringed seal’s nesting areas were classified as significant natural sites.

A total of 28 routes, i.e. more than half, were located in a Natura 2000 area or within less than 3 km of one. Altogether 17 routes run close to other protected area. The routes pass through three national park areas (Archipelago National Park, Gulf of Finland National Park and Linnansaari National Park) or within close range of them.

The ferry traffic’s noise, propeller erosion and possible oil or chemical leaks have adverse impacts on the environment, species and ecosystems. Greenhouse gas emissions accelerate climate change, which is one of the largest drivers of global biodiversity loss.

Suomen Lauttaliikenne’s most important means for reducing nature impacts are preventing environmental accidents and the related risk management, reducing

consumption of metals through vessel conversions, and the electrification of ferry traffic, which reduces greenhouse gas emissions and traffic noise levels.

Sustainability management

As part of its sustainability management, Suomen Lauttaliikenne drew up a Code of Conduct for the company. It highlights adherence to laws and regulations, human rights, responsibility for safety and the environment, and confidentiality and information security. Similar principles were included in the guidelines binding subcontractors and other contractual partners. During the review period, the company’s procurement policy was updated, emphasising responsible procurement and the importance of ethical practices.

As a result of the EU’s Omnibus, companies’ sustainability obligations were simplified. Suomen Lauttaliikenne no longer falls under the scope of compulsory sustainability reporting, and the company will continue its voluntary sustainability reporting.

▸ Latin name Pusa saimensis

▸ Lives only in Lake Saimaa

▸ Finland’s only endemic mammal

▸ Endangered, population of 530

▸ Gives birth to pups in snowdrift nests on the frozen lake

▸ Threatened by fishing nets, climate change, environmental disturbances

Development projects in 2025

▸ The conversion of the ferry Sterna was completed. The work involved the construction of a passenger cabin and café, as well as a lift and accessible toilet facility.

▸ The virtual cable project’s development was continued.

▸ A catalytic converter was installed on the commuter ferry Kaita to reduce emissions.

▸ The control lever replacement project for the ferry Aurora was completed.

▸ The company launched a project for transferring all of the routes’ schedules into the new electronic schedule system as part of the NAP transportation service catalogue.

▸ The company began exploring the energy generation opportunities offered by small wind turbines to secure energy self­sufficiency.

▸ The electrification project for the Finnish lake district’s 12 cable ferry routes was launched. The conversion work will be carried out at the Teknola shipyard in Savonlinna, which was leased by the company.

▸ The company began the conversion of an electric winch­driven cable ferry and the vessel will begin operating along the Pellinki route in autumn 2026.

▸ The company continued to strengthen the Group’s information security management to align with the stipulations of the NIS2 Directive and Cybersecurity Act.

▸ The company renewed its collaborative environments as part of the SharePoint cloud migration and developed identity and access control comprehensively.

▸ The company prepared for the requirements of the Pay Transparency Directive.

▸ The company launched an extensive brand renewal in late 2025, introducing the new visual identity in communications and gradually on some of the vessels.

Environmental impacts Responsibility for the environment

Suomen Lauttaliikenne has committed to reducing the load on waterway areas through various means, e.g. by following a certified ISO 14001 environmental management system. The importance of environmental matters is also underscored in personnel training and induction.

The interactive online course on the quality and environmental management systems that was developed by the company is an important part of job induction for all new employees. Concrete environmental targets are also taken into account in the company’s remuneration scheme. A driving style that spares machinery, and minimising emissions and noise are part of our everyday operations. Green electricity is used on all of

the company’s routes. When scheduling routes, environ mental matters are taken into consideration whenever possible.

The company’s waste­sorting plan and clear instruc tions ensure that hazardous waste is disposed of appro priately. We use reliable subcontractors who commit to contract­based operations and transparent documen tation for the disposal of waste, oil and wastewater. An effective maintenance programme enables a longer life cycle of the company’s vessels.

Environmental work at the core of operational development

The company’s most important environmental goal is reducing the carbon footprint from water traffic in line with Finland’s environmental targets. It is a challenging

Our environmental goals

▸ We reduce emissions by minimising fuel consumption through driving training and technical solutions.

▸ We maintain and develop vessel safety systems to ensure that we can safeguard the environment even in possible exceptional situations.

▸ We reduce the load on the environment by favouring durable materials on vessels.

▸ Continuous updating of equipment to reduce emissions and improve safety.

▸ Reduction in CO2 emissions from the 2016 baseline.

▸ ECO driving refresher training will continue in the company’s own simulator.

▸ Zero serious environmental damage cases.

goal that requires the company to use the latest environmentally sound technology in both new vessels and in the modernisation of older vessels. In 2025, the company’s CO2 emissions per nautical mile shrunk 19 per cent compared to 2016, which is the largest annual change on record.

The company continued important environmental work during the year. The decision was made to acquire small wind turbines and battery packs for two ferry docks in Southwest Finland and to increase the capacity of the Pellinki cable ferry, electrify it and convert it into a winch­driven ferry.

As part of the REISFER project, which is funded by the EU’s Interreg Central Baltic 2021–2027 programme, the conversion of the ferry Stella into a battery­hybrid vessel started up. The conversion was completed during January 2026.

Cable winding test runs on the Högsar cable ferry continued with positive experiences. The commuter ferry Kökar began operating along the Kruunuvuorenranta route in Helsinki on 1 April 2025, using low­emission biofuel.

New drivers continued to be trained in the company’s modernised vessel simulator, alongside training in emergency and exceptional situations.

The company succeeded in the tender for cable ferry traffic in the Finnish lake district (Järvi­Suomi), in connection with which 12 cable ferry routes will be modernised to be more environmentally friendly. The conversion work was begun during the review year for two cable ferries. The first four converted cable ferries will begin operating during 2026.

The vessels switched their disposable tableware for ceramic tableware, based on an improvement proposal made by employees in order to reduce waste. EV charging stations will be installed at ferry and commuter ferry terminals to encourage employees to purchase more environmentally friendly vehicles. The company arranged a ferry dock cleanup campaign in May in which personnel took an active part.

In 2025, the company’s CO2 emissions per nautical mile shrunk 19 per cent compared to 2016, which is the largest annual change on record.

Social responsibility Responsibility for safety

Suomen Lauttaliikenne has made a commitment to comply with the principle of continuously improving safety in its operations.

friendliness of maritime traffic. Breathalysers were in daily use on all of the company’s vessels during the year under review.

Effective safety systems help maintain the operational reliability of the vessels and the safety of passengers, as well as prevent environmental damage. The company is committed to improving maritime safety. In June of the review period, the company’s oil spill response and commuter ferry Jurmo participated in an oil spill exercise, and in August the commuter ferry Rosala II participated in a medium­scale maritime search and rescue exercise. The company’s ferry Elektra took part in a preparedness exercise organised by authorities in December. The company is also involved in projects that make use of technology to enhance the safety and environmental

The company manages the risks of possible accidents on its ferries and commuter ferries by complying with a safety and environmental management system that is in line with the International Safety Management Code (ISM). A vessel­specific safety manual has been updated for each of the company’s freely moving vessels in compliance with the ISM code. The company has, on its own initiative, developed a safety management system (LTJ) also for cable ferries. The uncertified LTJ system is based on the ISM code.

An internal audit of freely moving vessels is conducted annually in accordance with the ISM code, and for cable ferries, at least every three years in line with the voluntary LTJ system. However, it is the company’s goal to audit all of the cable ferry locations every two years. The

implementation of the company’s and the vessels’ safety system is also subject to external regulatory inspections.

During the year under review, the regulatory audits concluded that all the audited vessels were in compliance with the safety regulations.

The company’s system for reporting deviations enables a rapid response to near­miss situations. The company’s safety and quality manager reports serious deviations to the relevant authorities, the company’s director responsible for safety and the CEO, who will, if necessary, forward the deviation reports to the Board of Directors for its information and consideration. The deviation reports are reviewed, and if needed, the required measures are carried out and ferry crews are informed. A record number of deviation reports were written and they were distributed in a new way for ferry crews to read.

Information security

In response to the growing cybersecurity threat caused by the geopolitical situation in Europe, the company enhanced its cybersecurity measures and improved its capacity to protect against cybersecurity threats. With the new technology, the company can better detect vulnerabilities and respond to incidents faster. The company’s information security is continuously improved and

developing professional skills through tailored training

The company is responsible for granting cable ferry captain certification. The cable ferry captain qualification, developed in­house by the company, includes teaching materials, an examination, an induction stage, in­depth refresher training and simulator training in the company’s own simulator. The cable ferry captain training was developed into an increasingly diverse package. Additional ECO driving training is provided for personnel in order to reduce fuel consumption. The majority of permanent ferry­operating personnel have completed the training. ECO driving refresher training on the company’s own simulator is arranged in combination with training in emergency and exceptional situations. Our simulator has been actively utilised for driving practice for new employees under the guidance of our own driving instructor.

Achievement of safety goals

The company achieved its safety goals during the year under review. Not a single accident classified as severe took place during the year. The company continued to provide training in emergency and exceptional situations. Zero severe occupational accidents took place during the year under review.

Our safety promise

▸ Of our four values, safety is the most essential and a key part of our day­to­day operations.

▸ Our vessels’ certified safety management systems (ISM) and the voluntary safety management systems (LTJ) that supplement them are updated in compliance with the principles of continuous development.

▸ We develop our preparedness for emergency and exceptional situations by means of regular internal exercises and, whenever possible, through exercises organised by the authorities.

Operational safety goals

▸ Zero severe accidents.

▸ Training in emergency and exceptional situations on the company’s own simulator is continued and developed based on exceptional events.

▸ Acquisition of a training simulator for the Savonlinna office.

▸ Zero severe work accidents. Fewer work accidents than the previous year.

Social responsibility

Employer responsibility

Suomen Lauttaliikenne Group employs over 350 people across Finland. Our personnel are at the heart our operations and our goal is to be a responsible, reliable and attractive employer. In our new strategy, one of the core values is a sense of community, which has been strengthened systematically in connection with the cultural change.

Internal communication and employee involvement

As the routes are located all across Finland, the impor tance of internal communication is highlighted. The main channel of communication is the Finnish and Swedish intranet, where the latest information about the whole company is published.

The personnel is consulted actively to support decision­making. For this purpose, we use regular short surveys and involve our personnel in various working groups. Open dialogue between supervisors, management and personnel is part of day­to­day management practices.

Employee satisfaction and the effectiveness of HR management are monitored through employee surveys and in regular personal performance reviews. In connection with the cultural change, personnel satisfaction has been measured more frequently. The response percentage for the employee survey was 60 per cent in 2025 (2024, 68%). The overall employer score rose again and was 4.9 on a scale of 1 to 6. The overall score rose 0.5 units in two years. In a five­year comparison, according to the employee survey, we have developed particularly in these areas:

– the management justify their decisions well

– co­operation between the management and personnel works well

– our company invests in employees’ well­being

– communication is open in our company

– employees are listened to sufficiently in developing operations

The monthly virtual morning coffee breaks for all employees continued in the year under review. The coffee breaks broadly cover current themes and give the employees the opportunity to present questions in advance or during the coffee break. The events also feature a live feed presenting the company’s various routes and operating environments.

Personnel have a continuous opportunity to make improvement proposals that the management reviews and considers in its decision­making. Summaries of the management group’s meetings are distributed regularly to the personnel.

Co-operation and dialogue

The company engages in regular dialogue with representatives chosen by the employees four times a year. The representatives chosen by the personnel can propose initiatives made by employees to be discussed through the dialogue. The company and shop stewards jointly develop and maintain a work community development plan. Information on issues discussed in the dialogue is distributed to the entire personnel.

Occupational safety

The occupational safety development plan corresponds to the statutory occupational safety and health policy and is monitored and maintained by the company’s health and safety organisation. Occupational safety

agement group, and in spring 2024, co operation began with a new occupational safety committee. The term of office of OSH representatives is three years, and the committee holds at least four meetings per calendar year. At the March morning coffee break, the members of the occupational safety committee introduced themselves to the personnel and explained their roles in the company. An OSH yearly planner was developed to structure OSH co­operation, showing the issues to be reviewed during the year.

During the review year, one meeting involved a visit to the Archipelago Road’s ferry and cable ferry locations and the commuter ferries Viken, Innamo and Finnö. In addition, the OSH representatives independently conducted workplace visits in their own areas of responsibility. A reporting form was introduced for the representatives to fill in during the workplace visits. The EcoOnline – Chemical Manager chemical management software was developed by introducing site­specific warehouse inventories and monitoring.

Zero severe work accidents occurred during the reporting year, and the lost­time injury frequency rate fell slightly. The most common accident was still slipping, and efforts have been made to reduce such accidents through the introduction of safety boots, among other things. Workplace surveys and occupational safety inspections were carried out in co­operation with occupational health care and the Regional State Administrative Agency, and the inspections focused on the

Occupational health and well-being at work

The company offers statutory occupational health care, as well as services to promote well­being at work, such as the services of an occupational physical therapist and occupational psychologist. The objective of occupational health care is to support employees’ health, work ability and physical capacity at different stages of their career.

The trend in absences due to illness is monitored regularly and the company has models for early support and support for returning to work in place. The long­term target is to lower the number of absences due to illness and disability pensions. The sick­leave rate was 3.8 per cent during the year under review, which is less than the 4.0 per cent target.

Cultural, massage, dental and exercise benefits are offered to employee to support their well­being. The value of the employee benefit is EUR 400 annually.

In autumn 2025, the company launched its first exercise campaign in which employees were encouraged to exercise by collecting exercise points. Close to 130 employees took part in the campaign and employees collected more than 33,000 exercise points during its course (they received 1 exercise point for 10 minutes of exercise). The employees with the most points and the most active team were awarded in the campaign.

Training and induction

Personnel’s educational background varies depending on the qualification requirements for the tasks. For ferries and commuter ferries, the requirements for personnel range from domestic traffic skipper to deck officer, and from engine attendant to chief engineer.

The company developed its own cable ferry captain qualification for cable ferry personnel, and it includes teaching materials, an examination, an induction stage and in­ depth refresher training. The work community development plan that applies to the whole personnel takes into account competence needs, technological development, as well as the training requirements arising from the increase in hybrid vessels and electricity­based technology.

Before starting work on a vessel, employees are inducted into their roles, and their induction is documented. Vessel personnel regularly take part in first­aid courses and rescue exercises. Altogether 3,312 training hours were logged during the review period. A new maintenance work course was introduced specifically for cable ferry operators.

In change situations, the goal is to ensure that personnel receive sufficient information, competence development and smooth transitions to new operating models. Special focus is placed on preparing for changes, induction and supervisors’ role in supporting personnel, for example, in the adoption of new technologies, hybrid vessels and digital solutions.

Supervisory work

For the company, developing supervisory work is a key part of responsible HR management. Our goal is to ensure that each supervisor has the required capabilities to lead teams fairly, systematically and in line with the company’s values. During the review period, supervisors were given training in coaching­based management, for example, and the company’s practices and guidelines were reviewed at info sessions for supervisors.

Good supervisory work is seen in the company as a key factor in personnel’s commitment, well­being and operational performance.

Recruiting

The goal of the company’s recruitment is to ensure that the Group’s employees are competent, safety­committed, service­minded and motivated, with good local knowledge. A further goal is to achieve a balanced age structure and gender distribution, as well as reinforcing the positive employer image.

During the review period, the company launched an employer image campaign, which focuses on the company’s employees. Employee’s stories have been posted on social media channels in which they recount their work, what it means to them and what the best part of the job is. The goal of these stories is to increase openness, put a spotlight on the company’s day­to­day operations and reinforce the company’s image as a responsible and attractive employer.

Collective labour agreements

Altogether 3,312 training hours were logged during the review period. A new maintenance work course was introduced specifically for cable ferry operators.

All employees of the Group, with the excep tion of the executive management, are covered by collective labour agreements. Co with trade unions is based on continuous dialogue and negotiation. Developing the core activities requires close co different unions.

Equality and non-discrimination

Suomen Lauttaliikenne is committed to promoting equality and non­discrimination and to preventing discrimination in all its operations. The equality and non­discrimination plan is part of the work community development plan. Since ferry traffic is traditionally a male­dominated field, the company’s recruitment strives to increase the share of female maritime personnel. If necessary, it is possible to apply the positive special treatment referred to in the company’s equality and non­discrimination plan.

The company also ensures the implementation of national language rights. The requirements laid down in the Finnish Language Act are met in both internal and

external communications, and using both national languages is part of the company’s language strategy.

Preparation for the Pay Transparency Directive was begun and Suomen Lauttaliikenne regularly monitors the achievement of pay equality. A pay survey was used to ensure that there are no unjustified pay gaps between people performing the same work or work of equal value in Suomen Lauttaliikenne’s employment.

During the review period, the company launched an employer image campaign, which focuses on the company’s employees.

Lost-time injury frequency = (number of accidents x 1,000,000)/hours worked. The statistics include accidents that take place at work.

Source: If P&C Insurance Company 02/2026.

Our HR goals

▸ Effective and documented feedback and personal performance review processes.

▸ Personnel’s competence is developed systematically and as needed through tailored training.

▸ Sick­leave rate no higher than 4.0 per cent.

Key personnel figures

Gender distribution of management

Suomen Lauttaliikenne Group’s collective labour agreements

Suomen Lauttaliikenne Oy Collective labour agreements

Cable ferries and land organisation

Ferries

The collective labour agreement between Service Sector Employers PALTA, the Trade Union for the Public and Welfare Sectors JHL and the Finnish Seafarers’ Union SMU ry concerning ferry traffic (cable ferries)

Collective agreement between Suomen Lauttaliikenne Oy and the Finnish Seafarers’ Union SMU, Suomen Konepäällystöliitto ry and Finnish Ship’s Officers’ Union concerning ferry workers.

Suomen Saaristovarustamo Oy Collective labour agreements

Social responsibility Responsibility for stakeholders

As a responsible operator, Suomen Lauttaliikenne wants to promote, by its own example, ferry, cable ferry and commuter ferry traffic that favours service production that responds in the best way possible to the needs of stakeholders and the environment.

In addition to the owner, the key stakeholders of Suomen Lauttaliikenne Group are the service clients, the end customers who use the services, goods and service suppliers, municipalities, public transportation companies, logistics companies, and rescue services and other authorities. The schedule requests of local stakeholders are observed where possible.

The party ordering the service, the Southwest Finland Economic Development Centre, is the company’s largest client, with whom the company regularly engages in dialogue.

The company continued to actively engage with stakeholders during the review period. At Easter, personnel

handed out Easter candy to passengers on some routes, and in May, the company’s land organisation cleaned up the ferry docks of routes in Southwest Finland. The company organised its traditional responsibility campaign on National Reflector Day, 1 October 2025, along all its routes. In November, Children’s Day at Work was organised at the Turku office, giving the staff’s children an opportunity to see the work that takes place at the office.

During the year under review, a payment function was added to the reservation system developed by the company, which will make it easier for passengers to make payments on the company’s only paid route, the Houtskar–Iniö route which is part of the Archipelago Road.

Certified and documented quality

The company’s ISO 9001 quality management system and ISO 14001 environmental management system are audited annually in the land organisation and on the vessels. The certified quality management system affirms that the company strives to systematically maintain and develop a high standard of services.

The environmental management system is a documented way to ensure that the environment is taken into account in all the company’s operations.

Development areas that arise in the audit of the quality management system are addressed and documented.

The quality and environmental management systems were audited during the year under review, and the main focus of the audits was on effective management of safety culture. The company’s quality targets that were set for the review period were, for the most part, achieved. In the company’s quality and environmental system, the goal of operational reliability is to operate in accordance with the service agreement, and its indicator is the availability rate. The availability rate is calculated using the following formula: Availability percentage = ((theoretical operating time (h) – traffic interruptions (h))/theoretical operating time (h). Traffic interruption refers to a disruption in traffic on a route due to a technical fault or weather conditions, or which is planned in advance. The availability rate during the review period was 99.89 per cent.

Record-high customer satisfaction

A total of 6,552 passengers answered the company’s customer survey, which is conducted annually during the month of July on every one of the company’s routes. The respondents gave the company’s operations a record­high score of 9.06 on a scale of 1 to 10. The company’s Board of Directors has set a target score of at least 8.0 for each route. In the open­ ended feedback,

the respondents said they appreciated our personnel, safety and customer service. The feedback will be used to further develop the company’s operations.

Passengers have the opportunity to give feedback on all the company’s routes via the feedback system, which is available in three languages on both the company’s website and mobile app. The effectiveness of the feedback system is monitored internally, and the goal is to process feedback within three working days. During the year under review, the average processing time for the feedback was approx. 24 hours. All feedback and responses were processed during the review period in contract meetings with the Southwest Finland ELY Centre.

Overall score development 2021–2025

Source: Bondata Group Oy

Development of overall scores given by customers On a scale of 1–10.

Our quality promise

▸ We stand out as the service provider with the overall highest quality.

▸ We fulfil the requirements of our service agreements every day.

▸ We always strive to produce services that are the best for customers and the environment.

Our quality objectives

▸ A score of at least 8.0 for all our routes in the customer survey.

▸ Customer feedback is processed within three working days.

Active engagement with stakeholders

At Easter, personnel handed out Easter candy to passengers on some routes, and in May, the land organisation cleaned up the ferry docks of routes in Southwest Finland. The company organised its traditional responsibility campaign on National Reflector Day, 1 October 2025, along all its routes.

Children’s day at work

In November, Children’s Day at Work was organised at the Turku office, giving the staff’s children an opportunity to see the work that takes place at the office.

Stakeholder table

Engagement forums/Interfaces/Communication channels

Contract meetings with the Economic Development Centre, phone calls, email, clearly specified contact persons, automated traffic report list

Customer service on board vessels, websites, mobile app, customer satisfaction surveys, daily feedback processing, participation in public dialogue, direct contact, commuter ferry reservation system, sending newsletters

Needs-based meetings, daily feedback channels, clearly specified contact persons

Meetings, needs-based communication, clearly specified contact persons

Supervisory work in the field, pre-planned personnel meetings, intranet, personal development discussions, virtual morning coffee breaks, employee satisfaction surveys, whistleblowing channel, other surveys

Shareholder meetings, regular meetings and reporting, clearly specified contact persons

Regular meetings, co-operation, collective labour agreement negotiations, follow-up and daily communication

Regular meetings and contact, designated contact persons

Websites, press releases and traffic reports, assistance with interview requests, email, direct contact

Joint development of industry regulations, workshops, seminars

Regular seminars, trade fairs, liaison with other Nordic operators

The company’s Annual Report and Corporate Responsibility Report

Stakeholder expectations

Compliance with service agreements, quality and competitive operations, open and up-to-date communication

A safe, customer-oriented service experience, clear and up-to-date communication channels

Everyday basic service, good schedules

A reliable and flexible partner

A reliable employer, good communication, an industry leader

Implementation of strategic interests; responsible, transparent and cost-effective operations

Development of a co-operation model; an employer that complies with joint agreements and develops the industry

A reliable and responsible partner

A clearly specified contact person, distribution of material, reports and correct information

An operator that does not compromise safety, designated contact persons

Sharing experiences, envisioning the future of the industry

Annual reporting on the company’s operations

Good governance

Financial responsibility and social responsibility

In its operations, Suomen Lauttaliikenne promotes the efficient use of resources and produces financial value for its owner and stakeholders. The company develops its service level and quality for the long term.

Financial responsibility management and good governance

Suomen Lauttaliikenne’s key financial, quantitative and qualitative targets are set by the company’s Board of Directors. The Board of Directors oversees corporate social responsibility management and risk management by monitoring the company’s operations and management’s reporting. Validity is assured through an external financial audit and by an internal audit that is carried out by an external party. The development of the set targets is monitored regularly also by the company’s management group.

The financial result is achieved by responsible and ethical means. Good governance, open communication and dialogue with stakeholders support socially and environmentally responsible operations.

In the Group companies, decision­making and governance comply with the Finnish Limited Liability Companies Act, and in the companies, with the articles of association. Suomen Lauttaliikenne also complies with the guidelines issued by the Ownership Steering Department of the Prime Minister’s Office.

Responsibility as part of the remuneration scheme

The incentive scheme for the CEO and the management group and pension plans are decided on by the company’s Board of Directors. The company complies with the Government Resolution on State Ownership Policy (23 May 2024).

The remuneration of the company’s management group is based on a fixed annual salary as well as an annual performance­based bonus and a three­year, long­term performance bonus. Performance bonuses are decided on by the company’s Board of Directors. Besides responsibility for the company’s profitability, the executive management’s targets also take into account corporate responsibility and other targets set by the Board. The members of the company’s management group have no pension plans that deviate from those of other personnel, in addition to their statutory pension insurance.

The remuneration scheme applies to all employees whose employment relationship has lasted longer than six months during the financial year and is valid at the time the remuneration is paid. Personnel’s per formance bonuses are decided on by the Board of Directors. In addition, supervisors can propose to the CEO the payment of a one­time bonus to an employee who has displayed exemplary perfor mance in their role.

Support for non-profit activities

Non­profit support is given to a limited extent. Support may be granted if the supported party or event in question is considered to

generally promote or contribute to the company’s field of operation, maritime safety or the environmental protection of waterway areas. Local educational institutions may also be supported if the teaching they provide is related to the maritime sector or otherwise to the company’s field of operation.

Sponsorships are not given to entities in whose operations the company’s senior management or board members are actively involved.

Responsible procurements

Suomen Lauttaliikenne Group values good relationships and smooth co­operation with goods and service suppliers. When selecting suppliers, the main considerations are the price/quality ratio and security of supply of the products and services, as well as the responsibility and service­mindedness of the supplier. Suppliers must also meet the requirements of the Act on the Contractor’s Obligations and be financially solid enough to minimise delivery risks.

Taxes are paid to Finland

Suomen Lauttaliikenne Group’s tax footprint reflects the taxes paid to the State of Finland in 2025. In addition to

The Group takes tax impacts into account in its business decisions, but does not practice aggressive tax planning, nor does it take advantage of the possibilities of the international dimension in tax planning. Rather than targeting tax minimisation, tax decisions are made based on the principle of intended purpose.

Companies belonging to the Group pay taxes on their own results. The Group’s inter­company charges follow the “user pays” principle. Income tax is offset by the change in the depreciation difference.

The Group complies with Finnish legislation in the payment, collection, remitting and reporting of taxes. The Group has no business locations outside of Finland. Tax on the business result is paid in full to Finland. The tax footprint is further proof that nearly 100 per cent of the taxes are paid to Finland.

Employment impact

Suomen Lauttaliikenne has local significance as a stable employer that offers both long­term employment and shorter, seasonal employment. Its local employment impact serves as proof that the company is an important employer in many municipalities and offers careers also beyond urban centres.

Tax footprint figures for 2025

The map presents the relative geographical distribution of taxes withheld and remitted on salaries paid by Suomen Lauttaliikenne Group by employees’ area of residence.

Tax footprint reporting covers the information of Suomen Lauttaliikenne Oy and Suomen Saaristovarustamo Oy.

Taxes are presented based on accrual. The numerical information covers the entire Group’s operations, with the exception of the information on the affiliated company, and it includes all material tax types. Direct taxes paid for the financial year is based on accounting. The amount of indirect taxes for the financial year is generated based on costs or consumption. The exception is the insurance premium tax, which is based on information provided by the seller of the insurance.

The reported figures do not include: waste tax (amount indeterminable, not material), electricity and energy tax for the company’s own premises (not material).

Fuel purchases related to the company’s vessel operations are exempt from excise duties and the strategic stockpile fee (based on Section 9:4 of the Finnish act on excise duty on liquid fuels). This has a significant impact on the Group’s tax footprint.

Taxes remitted for the financial year include tax withheld on salaries as well as pension and social security contributions. The information in this report is unaudited.

Report of the Board of Directors and Financial Statements 2025

Main events Year 2025

▸ Suomen Lauttaliikenne Oy signed an agreement with the Southwest Finland ELY Centre on 6 October 2025 concerning the ”Maantielauttaliikennepalvelu JärviSuomi 2026–2047” procurement.

▸ On 30 October 2025, the Government of Åland and Suomen Saaristovarustamo Oy signed a letter of intent to establish the shipyard AxYards.

▸ KPMG carried out an audit related to the management of investment projects, with the objective of assessing investment management for the key stages, as well as the related processes and controls.

Q1

▸ Ålands Skärgårdsrederi Ab (Axferries) won the tender for the main traffic routes in the Åland Islands for 2025–2026 + an option for 2027. The agreement was signed on 8 January 2025.

Q2

The commuter ferry ms Kökar began operating along the Kruunuvuorenranta route in Helsinki in April.

▸ The commuter ferry ms Kökar began operating along the Kruunuvuorenranta route in Helsinki on 1 April 2025.

▸ The conversion of the battery was completed and the cable ferry began operating along the Nauvo–Korppoo route on Friday 4 April 2025.

▸ At the 2025 Annual General Meeting on 10 April 2025, the company’s result was confirmed and the members of the Board of Directors and the CEO were discharged from liability for the financial year 1 January–31 December 2024. Håkan Modig was elected as chair of the company’s Board of Directors, and Matias Knip, Noora Neilimo­Kontio, Kari Patrakka and Kaarina Soikkanen were elected as members of the Board of Directors.

▸ The ferry Sterna transferred on 11 April 2025 to the Kustavi–Iniö route from the Parainen–Nauvo route where the vessel operated as a reserve vessel.

▸ Along the Archipelago Road, electronic information displays were installed on the Parainen–Nauvo, Nauvo–Korppoo and Korppoo–Houtskari routes on 16 April 2025.

▸ Axferries carried out a ship transaction with the Government of Åland on 30 April 2025. Following the transaction, the ferries M/S Knipan, M/S Skarven, M/S Viggen and M/S Ådan transferred to the ownership of Axferries. M/S Alfågeln transferred to the ownership of Axferries at a later stage.

▸ To finance the investments, the owners of Ålands Skärgårdsrederi Ab (Suomen Saaristovarustamo Oy, wholly owned by Suomen Lauttaliikenne Oy, and the Government of Åland) invested in the company’s reserve for invested unrestricted equity. In addition, the company took out a debt­based loan.

▸ The Archipelago Road was opened on 9 May 2025 when Finferries’ electronic reservation system with an added payment function was introduced on the route.

▸ The company’s land organisation visited some of the company’s routes located in Southwest Finland to clean up the ferry docks as part of the environmental responsibility campaign organised on 8 May and 9 May 2025.

▸ On 22 May 2025, the company shared a stand with Axferries at the Maritime Day 2025 maritime trade fair in Mariehamn, Åland.

▸ The company’s ISO 9001 quality management system and ISO 14001 environmental management system were audited. The audit found two minor deviations. The company received positive feedback on its continuous improvement.

The company’s land organisation cleaned up ferry docks as part of the environmental responsibility campaign in May.

Q3

▸ The Kuparonvirta cable ferry route in the Finnish lake district was named Route of the Year 2025.

▸ The company’s Code of Conduct was published on the company’s intranet and the Supplier Code of Conduct on the company’s website. The code is based on the UN’s, ILO’s and OECD’s guiding principles for businesses.

▸ The company’s annual customer survey was carried out on all the company’s routes together with Bondata Group Oy (formerly Innolink Research Oy). The company received its highest score ever: 9.06.

▸ The company’s employee survey was carried out together with Bondata Group Oy in August and September.

▸ On 21 October 2025, the company signed a financing solution with the bank Turun Seudun Osuuspankki. The new EUR 79 million financing solution involves a green loan for investments and a credit facility, bank guarantee facility and a term loan for the Group’s general financing needs.

The Kuparonvirta cable ferry route in the Finnish lake district was named Route of the Year 2025.

Q4

▸ The company’s responsibility campaign was organised for the third consecutive year on National Reflector Day, Wednesday, 1 October 2025.

▸ Children’s Day at Work was held in the Turku office on 21 November 2025.

▸ The renewal of the company’s visual identity was begun in October. The ferries Altera and Elektra and the cable ferries L­317, L­197 and L­198 were painted in the company’s new colours and the vessels resumed operations in late 2025. The subsidiary Axferries carried out its own visual identity renewal starting in March.

The first cable ferry electrification projects were initiated at the Teknola shipyard in Savonlinna.

Main events after the 2025 financial year

The company was successful in the “Yhteysalusliikennepalvelu Parainen 2026–2028” procurement for commuter ferry traffic in Parainen. The new agreement allows the company to continue operating the commuter ferry Viken along the Parainen route.

The refurbished ferry Stella resumed operations along the Korppoo–Houtskari route in February 2026.

The company’s responsibility campaign was organised for the third consecutive year on National Reflector Day in October.

The first cable ferry electrification projects were initiated at the Teknola shipyard in Savonlinna.

Report of the Board of Directors

development of operations and performance

The Group achieved its targets during the financial year. The Group’s net sales for the financial year amounted to EUR 91.90 million (EUR 74.39 million), and the company’s to EUR 56.04 million (EUR 54.28 million).

The Group’s operating income for the financial year amounted to EUR 14.71 million (EUR 24.07 million), and the company’s to EUR 11.24 million (EUR 15.53 million). The Group’s operating margin was 16.0 per cent (32.4%), and the company’s was 20.3 per cent (28.6%).

The Group’s profit for the financial year was EUR 11.29 million (EUR 16.01 million), and the company’s was EUR 7.59 million (EUR 8.86 million). The Group’s investments totalled EUR 29.58 million (EUR 15.93 million), and the company’s were EUR 26.11 million (EUR 8.27 million).

The financial year’s main events related to the development of operations and performance are reported on pages 32–35 of the Annual Report.

The Group’s and the company’s operating profit and result for the previous financial year were positively affected by damages awarded as a result of a dispute and entered under other business income.

Estimate of likely future development

Group management expects net sales to remain on the same level as in 2026. After this, net sales are expected to fall slightly when the Hailuoto bridge is completed and the company’s service agreement for Hailuoto traffic operations ends.

Report on the scope of research and development activities

The company ensures environmental responsibility and will further reduce emissions from its energy suming vessels. This will be accomplished through the company’s various development projects.

Estimate of significant operational risks and uncertainties

Several tenders are expected in the company’s sector in the next few years. If the company is successful in future tenders, these will require major fleet investments and financing. Successful financing arrangements and interest rates have a significant impact on the company’s financial situation.

The geopolitical situation in Europe may affect the company’s servicing and maintenance operations.

The company ensures environmental responsibility and will further reduce emissions from its energyconsuming vessels. This will be accomplished through the company’s various development projects.

Estimate of financial position and result

Despite major investments in recent years, the Group’s financial position will remain good.

The geopolitical situation in Europe may have impacts on the company’s profitability.

Personnel

In 2025, the average number of employees in the Group was 451 (398) and in the company 287 (283). The Group’s HR policy and figures are discussed in the Group’s Corporate Responsibility Report.

Remuneration of personnel

The Group’s salaries and bonuses in 2025 totalled EUR 27.12 million (EUR 24.06 million), the company’s amounted to EUR 16.39 million (EUR 16.14 million). The fees paid to the Board members, and the salaries and performance bonuses paid to the CEO and the other

members of the management group are detailed in the notes. The performance bonus paid to the CEO in 2025 was 36 per cent of his annual earnings (24 per cent). The performance bonus paid to the other members of the management group in 2025 was 31 per cent of their annual earnings (25 per cent).

Environment

No accidents causing damage to the environment took place in the Group during the 2025 financial year. Approximately 8.1 million litres of low­sulphur fuel oil was purchased for vessels in 2025 (8.3 million litres).

The Group’s environmental targets include lowering fuel consumption by means of monitoring and attitude training. A total of 5.5 GWh (4.8 GWh) of green electricity was consumed by electric ferries and their shore infrastructure in 2025. The Group reports on its environmental targets, measures and environmental policy in the Group’s Corporate Responsibility Report.

disputes

The company was sued by a former employee in relation to the ending of their employment contract.

Board’s proposal concerning the disposal of profits

The parent company’s distributable funds in the financial statements amount to EUR 30,283,209.23, of which EUR 7,588,980.94 is the profit for the financial year, EUR 20,314,751.12 is retained earnings, and EUR 2,379,477.17 is distributable funds in the reserve for invested non­restricted equity. The Board of Directors proposes to the Annual General Meeting that a dividend of EUR 250,000.00 per share, i.e. EUR 5,000,000.00 in total, be paid from the profit for the financial year, and that the remainder of the profit be transferred to retained earnings.

Company shares

The company’s share capital is EUR 1,000,000.00, divided into 20 shares. All of the shares are owned by the State of Finland. Responsibility for the company’s ownership steering rests with the Ownership Steering Department of the Prime Minister’s Office.

Related party loans

The company has given its wholly­owned subsidiary Suomen Saaristovarustamo Oy a total of EUR 3.5 million in market­based loans for investments.

Auditors

At the Annual General Meeting held on 10 April 2025, Oy Tuokko Ltd was appointed as the company’s auditing firm, with Authorised Public Accountant Janne Elo acting as the principal auditor.

Key financial figures

Formulae for calculating key financial figures:

Operating margin, %

Operating income

Net sales

The Group’s and the company’s operating profit and result for the financial year were positively affected by damages awarded as a result of a dispute and entered under other business income. x 100

Board of Directors

At the Annual General Meeting on 10 April 2025, Håkan Modig was elected as chair of the company’s Board of Directors, and Kaarina Soikkanen, Matias Knip, Noora Neilimo-Kontio and Kari Patrakka were elected as members of the Board of Directors.

The Board convened 13 times during the year under review. The meeting attendance rate of the Board members was 98.5 per cent.

Håkan Modig Chair of the Board

Kaarina Soikkanen Member of the Board

and

Matias Knip Member of the Board Chief Specialist, Prime Minister’s Office

Management group

The members of the management group on 1 January 2026 were CEO Håkan Fagerström, CFO Johanna Eramo, Traffic and OSH Director

Niklas Heikkonen, Technical and Project Director

Mathias Karlsson, Chief Commercial Officer

Henrik Kulovaara, Safety and Traffic Director

Pasi Roos and HR Director Jonna Suvanto.

Income statement 1 January–31 December 2025

Balance

sheet 31 December 2025

Cash flow statement

1 January–31 December

2025

20,902,196.68

Suomen Lauttaliikenne Oy

Cash flow from investments

Notes to the Financial Statements for the financial year 1 January–31 December 2025

1. Company details

▸ The company’s official name is Suomen Lauttaliikenne Oy. The company also uses the trade name Finferries.

▸ The company is domiciled in Turku, and all of the company’s shares are owned by the State of Finland.

2. Group details

Group companies and holdings

▸ Suomen Saaristovarustamo Oy, 100%

▸ Ålands Skärgårdsrederi Ab, 50%

▸ The companies were consolidated using the purchase method. Intra­ Group transactions and assets and liabilities have been eliminated.

3. Accounting policy

3.1. valuation principles

The company’s financial statements have been prepared in accordance with the Finnish Accounting Standards (FAS). The financial statements are presented in euros. With regard to the acquisition cost of fixed assets acquired during the financial years 2020–2025, amounting to EUR 44,803,392.08 (parent company) and EUR 49,881,568.43 (group), depreciation in accordance with the act on the taxation of business income has been carried out in accordance with the maximum depreciation percentage allowed by the act on tax relief for certain non-profit corporations. If the company had followed the normally accepted maximum depreciation percentages for tax purposes, the profit before tax for the financial year would have been EUR 2,655,809.29 higher for the company and EUR 3,005,617.23 higher for the Group. Depreciation according to plan has been deducted from the acquisition cost of intangible and tangible assets recorded in the balance sheet. The variable costs incurred from procurement and manufacturing have been included in the acquisition cost. The depreciations according to plan have been calculated as straightline depreciations based on the economic useful life of intangible and tangible assets. Depreciations start from the month when the asset was placed into service.

Securities classified as financial assets are presented at acquisition cost.

Vessel dockings are recognised as annual expenses, as are refurbishing and repairs that do not significantly extend the equipment’s useful life.

3.2. Pension plans

▸ The company’s pension scheme has been implemented based on statutory earnings­related pension insurance (TyEL). Supplementary cover has been taken care of on the part of senior employees through supplementary pension insurance.

4. Notes to the income statement

4.1. Geographic breakdown of net sales

The café income of the affiliated company was presented as part of the Group’s net sales in 2025, the comparison year was adjusted accordingly

Impact on the cash flow statement Cash proceeds from sales + / Other cash flow from operating activities

4.2. Materials and services

4.3. Notes concerning personnel and members of bodies

The fees paid to members of the Board of Directors for Board and committee meetings were as follows:

The Annual General Meeting decides on the Board’s remuneration. In accordance with the 2025 AGM, the fees paid were: Chair EUR 2,800/month as of 1 May 2025 (previously EUR 2,500/month) Member of the Board EUR 1,400/month as of 1 May 2025 (previously EUR 1,200/month) The meeting fee for each Board meeting and committee meeting is EUR 600/meeting.

Supplementary pension is not paid to the CEO. The CEO’s period of notice is 6 months, the separate compensation upon termination by the company is 6 months.

4.4. Auditing fees

4.5. depreciation, amortisation and impairment

4.6. Financial income and expenses

4.7. direct taxes

5.1. Fixed assets and other long-term investments i.e. non-current assets

5.2. Investments

Saaristovarustamo Oy, 100% holding

Puhelin Oy

Alandia

5.3. Current receivables

5.4. Financial securities

5.5. Changes in equity

5.6. distributable assets, 31 december

5.7. Accumulated appropriations

The company’s accumulated appropriations consist of the accumulated depreciation difference

5.8. Non-current liabilities

The parent company’s long-term loans will mature later than in 5 years.

5.9. Current liabilities

Accruals and deferred income includes holiday pay and compensatory pay liabilities, including social security contributions, and other accruals related to normal business operations- To ensure liquidity, a credit facility of EUR 4,000,000 was opened for the company during the financial year.

6.1. Guarantees, contingent liabilities and other commitments

To ensure liquidity, a credit facility was opened for the company during the financial year

6.2. derivatives

As decided by the Board of Directors of Suomen Lauttaliikenne Oy, interest rate derivatives will be used only as a means of managing the interest risk on loans from credit institutions and for hedging purposes. Using hedging, the interest paid on variable-rate euro-denominated loans will be partly converted into fixed-rate interest. On average, approx. 50 per cent of the variable interest rates on the company’s loans from credit institutions are hedged, ensuring that the sensitivity of the businesses’ result to interest rate changes is at the level approved by the Board of Directors. Interest accrued on interest rate derivatives is recognised in profit or loss together with the secured loan agreements’ interest rates. The fair values of interest rate derivatives are not entered into the accounting, but are instead treated as off-balance sheet items used for hedging. The derivative’s impacts on profit or loss are realised during the loan term for financial years corresponding to the interest paid on the loans. Hedge effectiveness can be measured reliably, and the hedge is expected to be fully effective throughout the validity of the hedging relationship. The key information on derivatives is presented below (the positive value is reported from the company’s perspective):

rate swaps

Signing of the Financial Statements and Report of the Board of Directors

Turku, 12 March 2026

Håkan Modig Chair of the Board

Noora Neilimo-Kontio Member of the Board

Kaarina Soikkanen Member of the Board

Matias Knip Member of the Board

Kari Patrakka Member of the Board

Håkan Fagerström CEO

A report on the conducted audit has been submitted today.

In Helsinki

Oy Tuokko Ltd Auditing firm

Janne Elo Authorised Public Accountant (KHT)

List of accounting books and their method of storage

The company’s main accounting and account ledgers have been prepared in the Netvisor accounting system. Kasperi software has been used as the calculation system for non­current assets and depreciations during the financial year.

Journal In electronic format

General ledger In electronic format

Accounts receivable In electronic format

Accounts payable In electronic format

Fixed assets In electronic format

Payroll In electronic format

Balance sheet Hard­copy balance sheet

Vouchers for notes Vouchers 1−4

voucher types

Netvisor:

Automatic financial statement

entries

Accruals

Vouchers formed by the system

Treasury

Depreciation on fixed assets

Other Sales invoice

Sales payment

Purchase invoice

Purchase payment

Payslips

Salary accruals

Bank

Imported events

Auditor’s report

TILINTARKASTUSKERTOMUS

Suomen Lauttaliikenne Oy:n yhtiökokoukselle

Tilinpäätöksen tilintarkastus

Lausunto

Olemme tilintarkastaneet Suomen Lauttaliikenne Oy:n (y-tunnus 2199546-5) tilinpäätöksen tilikaudelta 1.1.–31.12.2025. Tilinpäätös sisältää taseen, tuloslaskelman, rahoituslaskelman ja liitetiedot.

Lausuntonamme esitämme, että tilinpäätös, jossa konsernin tuloslaskelma osoittaa voittoa 11.228.300,61 euroa, antaa oikean ja riittävän kuvan yhtiön toiminnan tuloksesta ja taloudellisesta asemasta Suomessa voimassa olevien tilinpäätöksen laatimista koskevien säännösten mukaisesti ja täyttää lakisääteiset vaatimukset.

Lausunnon perustelut

Olemme suorittaneet tilintarkastuksen Suomessa noudatettavan hyvän tilintarkastustavan mukaisesti. Hyvän tilintarkastustavan mukaisia velvollisuuksiamme kuvataan tarkemmin kohdassa Tilintarkastajan velvollisuudet tilinpäätöksen tilintarkastuksessa. Olemme riippumattomia yhtiöstä niiden Suomessa noudatettavien eettisten vaatimusten mukaisesti, jotka koskevat suorittamaamme tilintarkastusta ja olemme täyttäneet muut näiden vaatimusten mukaiset eettiset velvollisuutemme. Käsityksemme mukaan olemme hankkineet lausuntomme perustaksi tarpeellisen määrän tarkoitukseen soveltuvaa tilintarkastusevidenssiä.

Tilinpäätöstä koskevat hallituksen ja toimitusjohtajan velvollisuudet

Hallitus ja toimitusjohtaja vastaavat tilinpäätöksen laatimisesta siten, että se antaa oikean ja riittävän kuvan Suomessa voimassa olevien tilinpäätöksen laatimista koskevien säännösten mukaisesti ja täyttää lakisääteiset vaatimukset. Hallitus ja toimitusjohtaja vastaavat myös sellaisesta sisäisestä valvonnasta, jonka ne katsovat tarpeelliseksi voidakseen laatia tilinpäätöksen, jossa ei ole väärinkäytöksestä tai virheestä johtuvaa olennaista virheellisyyttä.

Hallitus ja toimitusjohtaja ovat tilinpäätöstä laatiessaan velvollisia arvioimaan yhtiön kykyä jatkaa toimintaansa ja soveltuvissa tapauksissa esittämään seikat, jotka liittyvät toiminnan jatkuvuuteen ja siihen, että tilinpäätös on laadittu toiminnan jatkuvuuteen perustuen. Tilinpäätös laaditaan toiminnan jatkuvuuteen perustuen, paitsi jos yhtiö aiotaan purkaa tai sen toiminta lakkauttaa tai ei ole muuta realistista vaihtoehtoa kuin tehdä niin.

Tilintarkastajan velvollisuudet tilinpäätöksen tilintarkastuksessa

Tavoitteenamme on hankkia kohtuullinen varmuus siitä, onko tilinpäätöksessä kokonaisuutena väärinkäytöksestä tai virheestä johtuvaa olennaista virheellisyyttä, sekä antaa tilintarkastuskertomus, joka sisältää lausuntomme. Kohtuullinen varmuus on korkea varmuustaso, mutta se ei ole tae siitä, että olennainen virheellisyys aina havaitaan hyvän tilintarkastustavan mukaisesti suoritettavassa tilintarkastuksessa. Virheellisyyksiä voi aiheutua väärinkäytöksestä tai virheestä, ja niiden katsotaan olevan olennaisia, jos niiden yksin tai yhdessä voisi kohtuudella odottaa vaikuttavan taloudellisiin päätöksiin, joita käyttäjät tekevät tilinpäätöksen perusteella.

Hyvän tilintarkastustavan mukaiseen tilintarkastukseen kuuluu, että käytämme ammatillista harkintaa ja säilytämme ammatillisen skeptisyyden koko tilintarkastuksen ajan. Lisäksi:

§ Tunnistamme ja arvioimme väärinkäytöksestä tai virheestä johtuvat tilinpäätöksen olennaisen virheellisyyden riskit, suunnittelemme ja suoritamme näihin riskeihin vastaavia tilintarkastustoimenpiteitä ja hankimme lausuntomme perustaksi tarpeellisen määrän tarkoitukseen

soveltuvaa tilintarkastusevidenssiä. Riski siitä, että väärinkäytöksestä johtuva olennainen virheellisyys jää havaitsematta, on suurempi kuin riski siitä, että virheestä johtuva olennainen virheellisyys jää havaitsematta, sillä väärinkäytökseen voi liittyä yhteistoimintaa, väärentämistä, tietojen tahallista esittämättä jättämistä tai virheellisten tietojen esittämistä taikka sisäisen valvonnan sivuuttamista.

§ Muodostamme käsityksen tilintarkastuksen kannalta relevantista sisäisestä valvonnasta pystyäksemme suunnittelemaan olosuhteisiin nähden asianmukaiset tilintarkastustoimenpiteet mutta emme siinä tarkoituksessa, että pystyisimme antamaan lausunnon yhtiön sisäisen valvonnan tehokkuudesta.

§ Arvioimme sovellettujen tilinpäätöksen laatimisperiaatteiden asianmukaisuutta sekä johdon tekemien kirjanpidollisten arvioiden ja niistä esitettävien tietojen kohtuullisuutta.

§ Teemme johtopäätöksen siitä, onko hallituksen ja toimitusjohtajan ollut asianmukaista laatia tilinpäätös perustuen oletukseen toiminnan jatkuvuudesta, ja teemme hankkimamme tilintarkastusevidenssin perusteella johtopäätöksen siitä, esiintyykö sellaista tapahtumiin tai olosuhteisiin liittyvää olennaista epävarmuutta, joka voi antaa merkittävää aihetta epäillä yhtiön kykyä jatkaa toimintaansa. Jos johtopäätöksemme on, että olennaista epävarmuutta esiintyy, meidän täytyy kiinnittää tilintarkastuskertomuksessamme lukijan huomiota epävarmuutta koskeviin tilinpäätöksessä esitettäviin tietoihin tai, jos epävarmuutta koskevat tiedot eivät ole riittäviä, mukauttaa lausuntomme. Johtopäätöksemme perustuvat tilintarkastuskertomuksen antamispäivään mennessä hankittuun tilintarkastusevidenssiin. Vastaiset tapahtumat tai olosuhteet voivat kuitenkin johtaa siihen, ettei yhtiö pysty jatkamaan toimintaansa.

§ Arvioimme tilinpäätöksen, kaikki tilinpäätöksessä esitettävät tiedot mukaan lukien, yleistä esittämistapaa, rakennetta ja sisältöä ja sitä, kuvastaako tilinpäätös sen perustana olevia liiketoimia ja tapahtumia siten, että se antaa oikean ja riittävän kuvan

Kommunikoimme hallintoelinten kanssa muun muassa tilintarkastuksen suunnitellusta laajuudesta ja ajoituksesta sekä merkittävistä tilintarkastushavainnoista, mukaan lukien mahdolliset sisäisen valvonnan merkittävät puutteellisuudet, jotka tunnistamme tilintarkastuksen aikana.

Muut raportointivelvoitteet

Muu informaatio

Hallitus ja toimitusjohtaja vastaavat muusta informaatiosta. Muu informaatio käsittää toimintakertomuksen.

Tilinpäätöstä koskeva lausuntomme ei kata muuta informaatiota.

Velvollisuutenamme on lukea muu informaatio tilinpäätöksen tilintarkastuksen yhteydessä ja tätä tehdessämme arvioida, onko muu informaatio olennaisesti ristiriidassa tilinpäätöksen tai tilintarkastusta suoritettaessa hankkimamme tietämyksen kanssa tai vaikuttaako se muutoin olevan olennaisesti virheellistä.

Velvollisuutenamme on lisäksi arvioida, onko toimintakertomus laadittu noudattaen siihen sovellettavia säännöksiä.

Lausuntonamme esitämme, että toimintakertomuksen ja tilinpäätöksen tiedot ovat yhdenmukaisia ja että toimintakertomus on laadittu noudattaen siihen sovellettavia säännöksiä

Jos teemme suorittamamme työn perusteella johtopäätöksen, että toimintakertomuksessa on olennainen virheellisyys, meidän on raportoitava tästä seikasta. Meillä ei ole tämän asian suhteen raportoitavaa.

Muut lausunnot

Puollamme tilinpäätöksen vahvistamista. Hallituksen esitys taseen osoittaman voiton käyttämisestä on osakeyhtiölain mukainen. Puollamme vastuuvapauden myöntämistä emoyhtiön hallituksen jäsenille sekä toimitusjohtajalle tarkastamaltamme tilikaudelta.

Helsingissä, 23 päivänä maaliskuuta 2026

Oy Tuokko Ltd

Tilintarkastusyhteisö

Janne Elo KHT

Oy Tuokko Ltd

Paciuksenkatu 25, 00270 Helsinki

Y-tunnus: 1731049-4, kotipaikka: Helsinki

Kotisivu: www.tuokko.fi

Head office

Lemminkäisenkatu 59

FI-20520 Turku, Finland

Suomen Lauttaliikenne Group

järvi-Suomi area

Inkilänkatu 31

FI-57220 Savonlinna, Finland

Switchboard: 0207 118 750

Email: firstname.lastname@ finferries.fi