Core Viewpoint - Lassila & Tikanoja Plc has announced a share repurchase program aimed at supporting share-based incentive schemes and compensating the Board of Directors, with a maximum of 150,000 shares to be repurchased, representing approximately 0.39% of total shares [1][3]. Group 1 - The share repurchase will commence on 2 March 2026 and conclude by 28 April 2026 [1]. - The repurchase will be conducted using the company's unrestricted equity at the market price on Nasdaq Helsinki Ltd, and will not be proportional to existing shareholders' holdings [2]. - The Extraordinary General Meeting on 4 December 2025 authorized the Board to repurchase up to 2,000,000 shares, which is about 5.2% of the total shares, for various purposes including acquisitions and incentive schemes [3]. Group 2 - The total number of registered shares in Lassila & Tikanoja Plc is 38,211,724, and currently, the company does not hold any of its own shares [4]. - Lassila & Tikanoja is a leading Nordic circular economy company focused on waste management, recycling, and promoting sustainable material use, employing approximately 2,300 people in Finland and Sweden [5].

Core Viewpoint - Lassila & Tikanoja Plc has established a new long-term share-based incentive scheme aimed at aligning the objectives of the company, shareholders, and key employees to enhance the company's long-term value and strengthen employee commitment [1] Group 1: Performance Share Plan Overview - The Performance Share Plan 2026–2030 consists of three performance periods: 2026–2028, 2027–2029, and 2028–2030 [2] - Participants can earn shares based on the achievement of performance criteria set by the Board of Directors at the beginning of each performance period, with rewards paid after each period [3] Group 2: Performance Criteria and Rewards - For the performance period 2026–2028, the maximum total reward corresponds to approximately 218,677 shares, including cash portions, aimed at about 25 key employees, including the Group's President and CEO [4] - Rewards are paid partly in shares and partly in cash, with cash intended to cover taxes related to the rewards [5] Group 3: Shareholding Requirements - Members of the Group Executive Board must hold at least 50% of the net shares received until their total shareholding value equals their annual salary, maintaining this requirement as long as they are part of the Board [6] Group 4: Performance Metrics - The performance criteria for the period 2026–2028 include: - Return on capital employed (30%) - Revenue growth (30%) - Total shareholder return (rTSR) (30%) - Reduction of carbon footprint (ESG) (10%) [7]

Lassila & Tikanoja PlcStock exchange release 26 February 2026 at 5.45 PM EET Lassila & Tikanoja’s Shareholders’ Nomination Board submits its proposals for the 2026 Annual General Meeting Lassila & Tikanoja’s Shareholders’ Nomination Board submits the following proposals to the Annual General Meeting to be held on 28 April 2026. The proposals will also be included in the notice of the 2026 Annual General Meeting. Number and Composition of the Board of Directors The Shareholders’ Nomination Board proposes the ...

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Group 1 - Hilppa Rautpalo, Senior Vice President of Legal, HR, and EHSQ at Lassila & Tikanoja Plc, has resigned to pursue a new position outside the company by August 2026 [1] - The recruitment process for her successor will begin immediately [1] - Eero Hautaniemi, President and CEO, expressed gratitude for Rautpalo's contributions over the past six years [2] Group 2 - Lassila & Tikanoja is a leading Nordic circular economy company focused on waste management, recycling, hazardous waste, remediation services, industrial services, and water treatment [2] - The company aims to promote sustainable material use and transform waste into valuable raw materials [2] - Lassila & Tikanoja employs approximately 2,300 people in Finland and Sweden and is listed on Nasdaq Helsinki [2]

Core Viewpoint - Trading in the new Lassila & Tikanoja Plc shares commenced on January 2, 2026, following a partial demerger, with shares listed under the trading code "LASTIK" and ISIN code FI4000592472 [1]. Shareholder Summary - The ten largest shareholders of Lassila & Tikanoja as of January 2, 2026, are detailed, with the largest being Evald ja Hilda Nissi Foundation holding 3,496,487 shares, representing 9.15% of total shares [2][3]. - Protector Forsikring ASA and Nordea Nordic Small Cap Fund follow as the second and third largest shareholders, holding 2,014,377 shares (5.27%) and 2,009,300 shares (5.26%) respectively [3]. - The total shares held by the ten largest shareholders amount to 13,420,506, which is 35.12% of the total shares, while other shareholders hold 24,791,218 shares, making up 64.88% [3]. Company Overview - Lassila & Tikanoja is a leading Nordic circular economy company focused on waste management, recycling, hazardous waste services, and water treatment [4]. - The company aims to promote sustainable material use and transform waste into valuable raw materials, employing approximately 2,300 people in Finland and Sweden [4].

Financial Information Disclosure - Lassila & Tikanoja Plc will disclose its financial statements for the year 2025 on February 27, 2026, at 8:00 am [1] - The interim report for January to March will be released on May 6, 2026, at 8:00 am [1] - The half-year financial report for January to June will be published on August 6, 2026, at 8:00 am [1] - The interim report for January to September is scheduled for October 28, 2026, at 8:00 am [1] - The Annual Report for 2025 will be available on the company's website during week 15 of 2026 [1] Annual General Meeting - The Annual General Meeting is tentatively scheduled for April 28, 2026, with the Board of Directors to confirm the meeting date later [2] Company Overview - Lassila & Tikanoja is a leading Nordic circular economy company focused on enhancing circularity with customers and partners [2] - The company offers services in waste management, recycling, hazardous waste, remediation, industrial services, and water treatment [2] - The goal is to promote sustainable material use and transform waste into valuable raw materials [2] - The company employs approximately 2,300 people in Finland and Sweden and is listed on Nasdaq Helsinki [2]

Group 1: Economic Context and Investment Trends - Investors are increasingly turning to defensive plays amid economic warning signs, with gold and dividend stocks being popular safe havens [1][2] - The dividend landscape is broader than commonly recognized, with lesser-known companies outside of major names like Coca-Cola and Johnson & Johnson being worth consideration [2] Group 2: Company Profiles Pentair - Pentair has a dividend yield of 0.90%, an annual dividend of $1.00, and a dividend increase track record of 7 years, with a payout ratio of 27.32% [4][6] - The company recently reported earnings that beat analyst predictions, with modest revenue gains but significant improvements in profitability, aided by a favorable tariff landscape [4][5] - Pentair achieved a record $596 million in free cash flow in Q2, allowing for continued strategic acquisitions and expansion [5] Enterprise Products Partners - Enterprise Products Partners has a dividend yield of 6.88%, an annual dividend of $2.18, and a remarkable 28-year track record of dividend increases, with a payout ratio of 81.04% [8][9] - The company benefits from the stability of the midstream energy sector, consistently increasing its dividend while managing to repurchase $1.3 billion in shares [9][10] - Enterprise has a debt-to-equity ratio of 1.04 and is expected to have about 13% upside potential according to analyst ratings [11] Lamb Weston - Lamb Weston has a dividend yield of 2.64%, an annual dividend of $1.48, and a 7-year history of dividend increases, with a payout ratio of 58.96% [12][14] - Despite a 15% decline in shares year-to-date, the company reported stronger-than-expected fiscal fourth-quarter results, driven by volume growth and cost-cutting measures [13][14] - Analysts remain cautious, with a majority rating shares as a Hold, but the company is forecasted to have nearly 16% upside potential following recent performance [14]

Summary of Conference Call Notes Industry Overview - The focus is on the **China Environment Equities** sector, particularly in the context of utility operations and environmental services. Key Companies Discussed 1. **Everbright Environment (EBE)** 2. **Guangdong Investment (GDI)** 3. **Beijing Enterprises Water (BEW)** Core Insights and Arguments Earnings and Financial Performance - Earnings have been negatively impacted by a slowing construction business and asset impairments, which are expected to persist into 2025 [2][8] - EBE's earnings are projected to decline by **13%** due to asset impairments and reduced construction revenue [9] - GDI is expected to maintain a **65% payout ratio** with a **9% earnings growth**, driven by lower finance costs [9] - BEW's earnings are anticipated to drop by **22%** due to impairments, although a **3% YoY increase in DPS** is expected for 2025 [9] Cash Flow and Dividend Focus - The emphasis is on cash flow quality and dividend sustainability amidst earnings uncertainty [2][8] - EBE is preferred for its improving free cash flow (FCF), which supports a **42% payout ratio** for FY24 [2] - GDI is noted for its defensive cash flow and earnings normalization from a low base in 1H24 [2] - BEW is rated Hold due to a high payout ratio of **97%** in 2024, limiting dividend upside [2] Capital Expenditure (Capex) Trends - Overall capex is expected to decline by **5-20% YoY** in 2025, aligning with reduced construction revenue [3] - GDI and BEW plan to retain/distribute more cash rather than invest, reflecting market saturation [3] - EBE is looking to expand overseas investments, although overall capex will remain disciplined [3] Financial Estimates and Revisions - EBE's revenue estimates for 2025 have been revised to **HKD 30,417 million**, with a net profit of **HKD 4,091 million** [16] - GDI's revenue for 2025 is estimated at **HKD 18,233 million**, with a net profit of **HKD 4,478 million** [19] - BEW's revenue is projected at **RMB 6,000 million** for 2025, with a net profit of **RMB 1,678 million** [10] Valuation and Target Prices - EBE's target price has been increased to **HKD 4.50**, implying a **10% upside** [18][25] - GDI's target price is set at **HKD 7.30**, reflecting a **7% upside** [21][25] - BEW's target price is adjusted to **HKD 2.60**, indicating a **0.4% downside** [24][25] Additional Important Insights - The hazardous waste treatment sector is under pressure, leading to potential further asset impairments for companies like EBE [13] - The report highlights the importance of monitoring dividend policies and cash flow quality as key investment criteria [2][8] - The overall sentiment in the sector is cautious, with a focus on cash management and dividend sustainability amidst challenging market conditions [8][14]