Konecranes Oyj — M&A Activity 2021

Nov 26, 2021

Konecranes and Cargotec note CMA’s announced Provisional Findings regarding the planned merger of Konecranes and Cargotec

Konecranes and Cargotec note CMA’s announced Provisional Findings regarding the planned merger of Konecranes and Cargotec

KONECRANES PLC INSIDE INFORMATION November 26, 2021 09:15 AM EET

Konecranes and Cargotec note CMA’s announced Provisional Findings regarding the
planned merger of Konecranes and Cargotec

Konecranes and Cargotec note that the Competition & Market Authority of the
United Kingdom (“CMA”) has today announced its Provisional Findings and
published its Notice of Possible Remedies regarding the planned merger of
Konecranes and Cargotec. The Provisional Findings represent CMA’s provisional
conclusions and is the main means the CMA uses to consult the merging parties
and other stakeholders. It is not a formal request by the CMA or offer of
remedies by Konecranes and Cargotec.

In its report, the CMA provisionally concludes that the transaction may result
in a substantial lessening of competition in several product markets.

Konecranes and Cargotec disagree with the CMA’s provisional conclusions. They
will consider the contents of the CMA’s initial findings and continue to engage
with the CMA. In addition, Konecranes and Cargotec continue the dialogue and
cooperation with other relevant competition authorities, including European
Commission and the US Department of Justice, and are considering ways to
mitigate some of the concerns raised by the different competition authorities.
Further announcements on the merger control processes will be made in due
course.

Konecranes and Cargotec remain confident that the merger will be completed by
the end of H1/2022. Until all merger closing conditions are met and the deal
completed, both companies continue to operate fully separately and
independently.

KONECRANES PLC

FURTHER INFORMATION
Kiira Fröberg, Vice President, Investor Relations, tel. +358 (0) 20 427 2050

IMPORTANT NOTICE
The Merger and the merger consideration securities have not been and will not be
registered under the U.S. Securities Act of 1933 (the “Securities Act”), and may
not be offered, sold or delivered within or into the United States, except
pursuant to an applicable exemption of, or in a transaction not subject to, the
Securities Act.

The information in this release is not directed to, or intended for distribution
to or use by, any person or entity that is a citizen or resident of, or located
in, the United States or any other locality, state, country or other
jurisdiction where such distribution or use would be contrary to law or
regulation or which would require any registration or licensing within such
jurisdiction and it does not constitute an offer of or an invitation by or on
behalf of, Konecranes, or any other person, to purchase or sell any securities.

The information in this release contains forward-looking statements, which are
information on Konecranes’ current expectations and projections relating to its
financial condition, results of operations, plans, objectives, future
performance and business. These statements may include, without limitation, any
statements preceded by, followed by or including words such as “target,”
“believe,” “expect,” “aim,” “intend,” “may,” “anticipate,” “estimate,” “plan,”
“project,” “will,” “can have,” “likely,” “should,” “would,” “could” and other
words and terms of similar meaning or the negative thereof. Such forward-looking
statements involve known and unknown risks, uncertainties and other important
factors beyond Konecranes’ control that could cause Konecranes’ actual results,
performance or achievements to be materially different from the expected
results, performance or achievements expressed or implied by such forward
-looking statements. Such forward-looking statements are based on numerous
assumptions regarding Konecranes’ present and future business strategies and the
environment in which it will operate in the future.

Konecranes is a world-leading group of Lifting Businesses™, serving a broad
range of customers, including manufacturing and process industries, shipyards,
ports and terminals. Konecranes provides productivity enhancing lifting
solutions as well as services for lifting equipment of all makes. In 2020, Group
sales totaled EUR 3.2 billion. The Group has around 16,500 employees in 50
countries. Konecranes shares are listed on the Nasdaq Helsinki (symbol: KCR).

DISTRIBUTION
Nasdaq Helsinki
Major media
www.konecranes.com