Kesko Oyj — Major Shareholding Notification 2019

Aug 30, 2019

Disclosure of change in ownership in compliance with Chapter 9, Section 10 of the Finnish Securities Markets Act

Kesko Corporation has on 30 August 2019 received a notification pursuant to Chapter 9, Section 5 of the Finnish Securities Markets Act from K-Retailers'Association.

According to the notification, on 30 August 2019 K-Retailers'Association's holding in Kesko Corporation exceeded the threshold of five (5) per cent for shares. The last time

K-Retailers'Association issued a flagging notification regarding its holdings was on 23 December 2015, when its holding in Kesko Corporation rose above 10 per cent for voting rights.

Total position of K-Retailers'Association subject to the notification:

	%of shares and voting rights	%of shares and voting rights through financial instruments	%of total	Total number of shares and voting rights in issuer
Resulting situation on the date on which the threshold was crossed or reached	5.03% of shares 13.04% of voting rights		5.03% of shares 13.04% of voting rights	100,019,752 shares 385,652,815 voting rights
Position of previous flagging notification (if applicable)	3.88% of shares 10.05% of voting rights		3.88% of shares 10.05% of voting rights

Notified details of the resulting situation on the date on which the threshold was crossed or reached:

1. Shares and voting rights

Class / type of shares ISIN code		Number of shares and voting rights %of shares and voting rights
Direct	Indirect	Direct	Indirect
(SMA 9:5)	(SMA 9:6 and 9:7)	(SMA 9:5)	(SMA 9:6 and 9:7)
KESKOA FI0009007900	5,029,728 shares		5.03% of shares
	50,297,280 voting rights		13.04% of voting rights
SUBTOTAL	5,029,728 shares	5.03% of shares
	50,297,280 voting rights	13.04% of voting rights

K-Retailers' Association has stated that the combined holding of K-Retailers' Association, K-ruokakauppiasyhdistys ry, Krautakauppiasyhdistys ry, K-kauppiasliiton erikoiskauppiasyhdistys ry, and Vähittäiskaupan Ammattikasvatussäätiö sr in Kesko Corporation is 7.01% for shares and 18.18% for voting rights. On 7 February 2017, the aforementioned entities issued a flagging notification stating that their combined voting rights in respect of shares in Kesko Corporation had risen above 15 per cent. Kesko Corporation also notes that on 28 October 2010 the aforementioned entities issued a flagging notification stating that their combined holding of shares in Kesko Corporation had risen above 5 per cent.

Full chain of controlled undertakings through which the shares, voting rights or financial instruments are effectively held:

Name	%of shares and	%of shares and voting rights through	Total shares, voting rights and
	voting rights	financial instruments	financial instruments
K-ruokakauppiasyhdistys ry	Less than 5% of		Less than 5% of shares
	shares		Less than 5% of voting rights
	Less than 5% of voting
	rights
K-rautakauppiasyhdistys ry	Less than 5% of		Less than 5% of shares
	shares		Less than 5% of voting rights
	Less than 5% of voting
	rights
K-kauppiasliiton	Less than 5% of		Less than 5% of shares
erikoiskauppiasyhdistys ry	shares		Less than 5% of voting rights
	Less than 5% of voting
	rights
Vähittäiskaupan	Less than 5% of		Less than 5% of shares
Ammattikasvatussäätiö sr	shares		Less than 5% of voting rights
	Less than 5% of voting
	rights

Further information is available from Mika Majoinen, EVP, Group General Counsel, tel. +358 105 322 206.

Kesko Corporation

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