KONE Oyj — M&A Activity 2020

Feb 17, 2020

KONE has decided to withdraw from discussions with thyssenkrupp to acquire their Elevator Technology business

KONE has decided to withdraw from discussions with thyssenkrupp to acquire their Elevator Technology business

KONE Corporation, Inside information, February 17, 2020 at 4.25 p.m. EET

KONE has decided to withdraw from discussions with thyssenkrupp to acquire their
Elevator Technology business

KONE has decided to withdraw from discussions with thyssenkrupp to acquire their
Elevator Technology business.

KONE continues to believe that a combination of its business with thyssenkrupp
Elevator Technology business would have been strategically compelling. However,
any acquisition KONE would pursue would need to come with terms and conditions
that are in the best interest of its shareholders, employees and customers.

KONE’s focus continues to be on executing its Winning with Customers strategy.

Further information for investors:
Sanna Kaje, Vice President, Investor Relations, tel. +358 204 75 4705

Further information for media:
Hanna Rutanen, Communications Director, External Communications, tel. +358 41
507 1361

Sender:

KONE Corporation

Henrik Ehrnrooth
President and CEO

Ilkka Hara
CFO

About KONE

At KONE, our mission is to improve the flow of urban life. As a global leader in
the elevator and escalator industry, KONE provides elevators, escalators and
automatic building doors, as well as solutions for maintenance and modernization
to add value to buildings throughout their life cycle. Through more effective
People Flow®, we make people's journeys safe, convenient and reliable, in
taller, smarter buildings. In 2019, KONE had annual sales of EUR 10 billion, and
at the end of the year approximately 60,000 employees. KONE class B shares are
listed on the Nasdaq Helsinki Ltd. in Finland.

www.kone.com