The purpose of the long-term partnership is to increase efficiency in developing innovative ICT solutions to Stockmann’s customers, to lower costs, and to harmonise and centralise ICT services. STOCKMANN plc, Company Announcement 2.11.2016 at 9:00 EET Stockmann has signed a five-year cooperation agreement with Tech Mahindra to produce part of Stockmann’s ICT services. As a consequence, Stockmann will consolidate the maintenance and development of business applications and infrastructure offered by more than 20 current service providers and delivered from several countries to one dedicated supplier. At the same time, 33 of Stockmann's current ICT employees are planned to transfer to Tech Mahindra on 1 January 2017 under a business transfer agreement. The target of the planned changes is to reduce Stockmann’s ICT costs by about EUR 4 million annually from 2018 onwards. ”This partnership is the start of a new phase in developing ICT services at Stockmann. It will allow us to ensure efficient production of up-to-date services to our customers in the stores as well as online. Tech Mahindra has deep knowledge of offering digital services to well-known retail companies worldwide, and we are glad to gain this expertise for the benefit of our customers,” says Petteri Naulapää, CIO at Stockmann. Stockmann will maintain an ICT organisation with about 40 employees responsible for IT portfolio management and development of business processes, applications and digital services for Stockmann’s customers. Tech Mahindra is a specialist in digital transformation, consulting and business reengineering, offering innovative and customer-centric information technology services and solutions to over 825 customers globally. Tech Mahindra is part of the $17.8 billion Mahindra Group that has offices in over 100 countries, and it has been providing IT services in the Nordic countries for about 10 years. The company has over 2000 employees working for customers in the Nordic region. Further information: Petteri Naulapää, CIO, tel. +358 9 121 5377 Nora Malin, Director, Corporate Communications, tel. +358 9 121 3558 www.stockmanngroup.com STOCKMANN plc Lauri Veijalainen CEO Distribution: Nasdaq Helsinki Principal media