Konecranes Oyj — M&A Activity 2021

Jul 2, 2021

The European Commission commences Phase II review of the merger between Konecranes and Cargotec; completion of the merger expected by the end of H1/2022

The European Commission commences Phase II review of the merger between Konecranes and Cargotec; completion of the merger expected by the end of H1/2022

KONECRANES PLC INSIDE INFORMATION JULY 2, 2021 8:00 PM EEST

The European Commission commences Phase II review of the merger between
Konecranes and Cargotec; completion of the merger expected by the end of H1/2022

On 1 October 2020, Konecranes Plc (“Konecranes”) and Cargotec Corporation
(“Cargotec”) announced that the companies have signed a combination agreement
and plan to combine through a merger, subject to regulatory and other approvals
(the “Transaction”).

Konecranes and Cargotec confirm that they have filed for approval in many of the
jurisdictions where the transaction requires regulatory review. The various
competition authorities, including the European Commission (“EC”), the UK
Competition and Markets Authority, the US Department of Justice and the Chinese
State Administration for Market Regulation, are currently reviewing the proposed
Transaction.

The EC has today opened a Phase II review in connection with the planned
Transaction. The Phase II review is a common step in the EC merger review of
global transactions of this size. Phase II will enable the EC to consider the
contemplated transaction in further detail. Konecranes and Cargotec will
continue to work closely and in active dialogue with the relevant authorities
including the EC allowing to mitigate or eliminate preliminary concerns that the
EC has raised. The companies expect that the Phase II review will continue
during H2/2021.

The companies are confident that the approvals are received to allow completion
of the Transaction by the end of H1/2022. Until completion, both companies will
operate fully separately and independently.

KONECRANES PLC
Kiira Fröberg
Vice President, Investor Relations

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 16,600 employees in 50
countries. Konecranes shares are listed on the Nasdaq Helsinki (symbol: KCR).
DISTRIBUTION
Nasdaq Helsinki
Major media
www.konecranes.com