Basware Oyj — Major Shareholding Notification 2022

Jul 14, 2022

Flagging notification in accordance with Chapter 9 Section 10 of the Finnish Securities Markets Act

Flagging notification in accordance with Chapter 9 Section 10 of the Finnish Securities Markets Act

Basware Corporation, stock exchange release, 14 July 2022 at 9.15 p.m. EEST

Basware Corporation has received on 14 July 2022 the following notification
pursuant to Chapter 9, Section 5 of the Finnish Securities Market Act from
Briarwood Chase Management LLC according to which their holding of shares and
financial instruments has decreased below five (5) percent and total holding of
both shares and financial instruments is zero (0) percent of the total number of
shares and votes in Basware Corporation on 14 July 2022.

Basware Corporation has one series of shares in which each share carries one
vote. The total number of shares and votes is 14,463,936.

The holding of Briarwood Capital Partners LP according to the notification:

              % of shares  % of shares and voting rights  Total of
              and voting   through financial instruments  both in %
                rights

Resulting 0% 0% 0%
situation on the
date on
which threshold
was crossed or
reached:
Position of 4.41% 6.94% 11.35%
previous
notification (if
applicable):

Notified details of the resulting situation following the crossing of the
threshold:

A: Shares and voting rights

Class/type of Number % of shares and voting rights
sharesISIN code (if of
possible) shares
and
voting
rights
Direct Indirect Direct Indirect
(SMA 9:5) (SMA 9:6 (SMA (SMA 9:6 ja 9:7)
ja 9:7) 9:5)
FI0009008403 0 0 0% 0%
SUBTOTAL (A) 0 0%

B: Financial Instruments according to SMA 9:6a

Type of Expiration Exercise/Co Physical Number of shares % of shares
financial date nversion or and voting rights and voting
instrument Period cash rights
settlement
Warrants 22 August 2 April Physical 0 0%
2024 2019 (on
or
about) -
22 August
2024
Subtotal 0 0%
(B):

Additional information:
Change of major shareholdings notified herein relate to the completion of the
tender offer by Sapphire BidCo Ltd in accordance with the tender offer document
dated 25 April 2022. Aalap Mahadevia is the managing member of Briarwood Chase
Management LLC, the investment manager of Briarwood Capital Partners LP.

For more information, please contact:
Katariina Kataja, Investor Relations Manager, Basware Corporation
Tel. +358 40 527 1427, katariina.kataja@basware.com

Distribution:
Nasdaq Helsinki
Main media
investors.basware.com/en

About Basware:
Basware is a leading provider of Networked Procure-to-Pay solutions with the
largest open e-invoicing network in over 180 countries. Our cloud-based
technology enables enterprises to fully manage their spend, mitigate financial
risk and reduce operating costs through automation of finance, procurement,
accounts payable and accounts receivable processes. Our open technology
ecosystem and extensive partner network have helped over 6,500 businesses in 60
countries move towards 100% spend visibility which enables better business
decisions - a concept we call Visible Commerce. Basware's solutions support the
transition to a lower-carbon economy by digitization and automation. Basware is
traded on the Helsinki exchange (BAS1V: HE). Find out more at
https://investors.basware.com/en.