Konecranes Oyj — M&A Activity 2022

Feb 3, 2022

Konecranes and Cargotec provide an update on planned merger: Remedy requirements are more complex than expected, dialogue with relevant competition authorities continues

Konecranes and Cargotec provide an update on planned merger: Remedy requirements are more complex than expected, dialogue with relevant competition authorities continues

KONECRANES PLC INSIDE INFORMATION February 3, 2022 08:00 AM EET

Konecranes and Cargotec provide an update on planned merger: Remedy requirements
are more complex than expected, dialogue with relevant competition authorities
continues

As previously communicated, Konecranes and Cargotec have continued their
dialogue and cooperation with relevant competition authorities to find
satisfactory ways to mitigate concerns raised by the competition authorities to
secure approvals to complete the merger of Konecranes and Cargotec. Based on
ongoing dialogue with authorities, the remedy requirements are more complex than
expected.

Konecranes and Cargotec have discussed remedies with relevant competition
authorities based on a commitment offered to the EC to divest Konecranes' Lift
Truck business and Cargotec's Kalmar Automation Solutions. Both companies
consider the offered remedy package as sufficient and feasible. Further
investigations regarding the proposed remedies and negotiations with relevant
competition authorities regarding anti-trust concerns continue.

Konecranes and Cargotec are awaiting the authorities’ decisions and continue to
work towards the merger being completed by the end of H1 2022. Until all merger
closing conditions are met and the deal is completed, both companies continue to
operate fully separately and independently.

KONECRANES PLC
The Board of Directors

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