Nokian Renkaat Oyj

Major Shareholding Notification • Jul 30, 2020

Disclosure 385889

Nokian Renkaat - Major shareholder announcements

Nokian Tyres: Disclosure under chapter 9, section 10 of the securities market act

Nokian Tyres plc Stock Exchange Release July 30, 2020, at 8:20 a.m. Nokian Tyres has received an announcement from Sprucegrove Investment Management on July 30, 2020, in accordance with the Finnish Securities Market Act Chapter 9, Section 5. According to the announcement Sprucegrove Investment Management's direct holding in Nokian Tyres shares exceeded the level of 5% of the share capital in Nokian Tyres plc, as a result of share transactions concluded on July 27, 2020. The direct shareholding of Sprucegrove Investment Management in Nokian Tyres has increased to 7,155,766 shares, corresponding to 5.15% of Nokian Tyres’ shares and voting rights. Total positions of Sprucegrove Investment Management's subject to the notification: +----------------+----------+------------------+-----+----------------------+ | |% of |% of shares and |Total|Total number of shares| | |shares and|voting rights |of |and voting rights of | | |voting |through financial |both |issuer | | |rights |instruments (total|in % | | | |(total |of B) |(A+B)| | | |of A) | | | | +----------------+----------+------------------+-----+----------------------+ |Resulting |5.15% |N/A |5.15%|138,921,750 | |situation on the| | | | | |date on | | | | | |which threshold | | | | | |was crossed or | | | | | |reached | | | | | +----------------+----------+------------------+-----+----------------------+ |Position of |4.92% |N/A |4.92%| | |previous | | | | | |notification | | | | | +----------------+----------+------------------+-----+----------------------+ Notified details of the resulting situation on the date on which the threshold was crossed or reached: A: Shares and voting rights: +------------+-----------------+-----------------+-----------+------------+ |Class/type |Number of shares |Number of shares |% of shares|% of shares | |of shares |and voting rights|and voting rights|and voting |and voting | |ISIN code | | |rights |rights | +------------+-----------------+-----------------+-----------+------------+ | |Direct (SMA 9:5) |Indirect |Direct (SMA|Indirect | | | |(SMA 9:6 and 9:7)|9:5) |(SMA 9:6 and| | | | | |9:7) | +------------+-----------------+-----------------+-----------+------------+ |FI0009005318|7,155,766 | |5.15% | | +------------+-----------------+-----------------+-----------+------------+ |SUBTOTAL A |7,155,766 | |5.15% | | +------------+-----------------+-----------------+-----------+------------+ B: Financial instruments according to SMA 9:6a: +----------+----------+----------+----------+-----------------+---------------+ |Type of |Expiration|Exercise/ |Physical |Number of shares |% of shares and| |financial |date |Conversion|or |and voting rights|voting rights | |instrument| |Period |cash | | | | | | |settlement| | | +----------+----------+----------+----------+-----------------+---------------+ |N/A |N/A |N/A |N/A |N/A |N/A | +----------+----------+----------+----------+-----------------+---------------+ |SUBTOTAL B| | | |N/A |N/A | +----------+----------+----------+----------+-----------------+---------------+ Nokian Tyres plc Päivi Antola SVP, Corporate Communications and Investor Relations Tel. +358 10 401 7327 Distribution: Nasdaq Helsinki Oy, media and www.nokiantyres.com Nokian Tyres develops and manufactures premium tires for people who value safety and sustainability. Inspired by our Scandinavian heritage, we craft innovative products for passenger cars, trucks and heavy machinery that give you peace of mind in all driving conditions. Our Vianor chain provides tire and car services. In 2019, the company’s net sales were EUR 1.6 billion and it employed some 4,700 people. Nokian Tyres is listed on Nasdaq Helsinki. Further information: www.nokiantyres.com