Caverion Oyj

Capital/Financing Update • May 7, 2020

Caverion Corporation issues EUR 35 million hybrid bond

Caverion Corporation Stock exchange release 7 May 2020 at 5:45 p.m. (EEST)

Caverion Corporation issues EUR 35 million hybrid bond

Caverion Corporation ("Caverion") issues a EUR 35 million hybrid bond. The coupon of the hybrid bond is 6.75 percent per annum until 15 May 2023. The hybrid bond does not have a maturity date but the issuer is entitled to redeem the hybrid for the first time on 15 May 2023, and subsequently, on each interest payment date. The net proceeds of the issuance will be used to strengthen Caverion's capital structure and for general corporate purposes.

"I am pleased with the demand the investors showed towards our hybrid bond in the current challenging market environment amidst the coronavirus pandemic, as evidenced by the significantly oversubscribed order book. Our current liquidity is strong, and the transaction supports our equity ratio. Caverion retains high financial flexibility to support the execution of the company's updated strategy of investing in profitable growth," says Martti Ala-Härkönen, Chief Financial Officer of Caverion.

A hybrid bond is an instrument which is subordinated to the company's other debt obligations and is treated as equity in the IFRS financial statements. The hybrid bond does not confer to its holders the rights of a shareholder and does not dilute the holdings of the current shareholders.

Nordea Bank Abp and OP Corporate Bank plc act as joint lead managers for the hybrid bond issue. Castrén & Snellman Attorneys Ltd acts as legal advisor to Caverion and the joint lead managers.

CAVERION CORPORATION

Distribution: Nasdaq Helsinki, principal media, www.caverion.comNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, HONG KONG, NEW ZEALAND, SOUTH AFRICA, SINGAPORE, JAPAN OR SUCH OTHER JURISDICTIONOROTHERWISE IN SUCH CIRCUMSTANCES IN WHICH THE RELEASE, PUBLICATIONOR DISTRIBUTION WOULD BE UNLAWFUL.

For further information, please contact:

Martti Ala-Härkönen, Chief Financial Officer, tel. +358 40 737 6633, martti.ala-harkonen@caverion.com

Milena Hæggström, Head of Investor Relations and External Communications, tel. +358 40 5581 328, milena.haeggstrom@caverion.com

With Caverion's services and solutions, built environments become smart and sustainable. Customers can trust our expert guidance during the entire life cycle of their buildings, infrastructure or industrial sites and processes: fromdesign &build to technical and industrial maintenance as well as facilitymanagement, including smart technologies and advisory services. Our customers are supported by over 16,000 professionals in 11 countries in Northern, Central and Eastern Europe. Our revenue in 2019was approximatelyEUR2.1 billion. Caverion's shares are listed on Nasdaq Helsinki. Caverion - Building Performancewww.caverion.comTwitter: @CaverionGroup