Basware Oyj — Major Shareholding Notification 2022

May 11, 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, 11 May 2022 at 2:45 p.m. EEST

Basware Corporation has received on 10 May 2022 the following notification
pursuant to Chapter 9, Section 5 of the Finnish Securities Market Act from The
Goldman Sachs Group, Inc. according to which their total holding of shares of
Basware Corporation has decreased below five (5) percent on 9 May 2022.
According to the notification, the reason for the notification was an
acquisition or disposal of shares or voting rights and acquisition or disposal
of financial instruments.

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 The Goldman Sachs Group, Inc.according to the notification:

               % of     % of shares    Total   Total number of shares
              shares     and voting      of    and voting rights of
                and        rights       both   issuer
              voting      through       in %
              rights     financial     (7.A +
              (total    instruments     7.B)
              of 7.A)  (total of 7.B)

Resulting 1.46% 0.14% 1.60% 14,463,936
situation on the
date on
which threshold
was crossed or
reached:
Position of 4.01% 1.36% 5.37%
previous
notification (if
applicable):

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

A: Shares and voting rights

          Number            % of shares and voting rights
          of
          shares
          and
          voting
          rights

Class/type Direct Indirect Direct Indirect (SMA 9:6 and 9:7)
of shares: (SMA (SMA 9:6 (SMA 9:5)
9:5) and 9:7)
FI0009008403 201,861 1.46%
Subtotal 201,861 1.46%
(A):

B: Financial Instruments

Type of Expiration Physical or Number of shares % of shares
financial date cash and voting rights and voting
instrument settlement rights
Securities Open Physical 540 0.004%
Lending
Swap 14/04/2032 Cash 11,121 0.08%
Swap 07/05/2030 Cash 6,043 0.04%
Swap 06/05/2030 Cash 1,334 0.01%
Swap 03/06/2030 Cash 362 0.003%
Swap 20/05/2030 Cash 331 0.002%
Swap 22/04/2025 Cash 265 0.002%
Swap 14/05/2030 Cash 249 0.002%
Swap 02/03/2032 Cash 56 0.0004%
Subtotal (B): 20,301 0.14%

Full chain of controlled undertakings:

Name % of shares % of shares and voting rights Total
and voting through financial instruments of
rights both
The Goldman Sachs
Group, Inc.
Goldman Sachs (UK)
L.L.C.
Goldman Sachs
Group UK Limited
Goldman Sachs
International

The Goldman Sachs
Group, Inc.
GSAM Holdings LLC
Goldman Sachs
Asset Management,
L.P.

The Goldman Sachs
Group, Inc.
Goldman Sachs Bank
USA
Goldman Sachs Bank
Europe SE

For more information, please contact:

Katariina Kataja, Investor Relations Manager, Basware Corporation
Tel. +358 40 527 1427, katariina.kataja@basware.com

Distribution:
Nasdaq Helsinki
Key media
www.basware.com/investors

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.