Puuilo Oyj

Major Shareholding Notification • Sep 20, 2023

Disclosure 437405

Puuilo Oyj - Major shareholder announcements

Puuilo Plc: Announcement of a change in shareholding according to Chapter 9, Section 10 of the Finnish Securities Market Act

PUUILO PLC, STOCK EXCHANGE RELEASE, 20 September 2023 at 10.45 EEST

Puuilo Plc (the "Company") has today received a notification in accordance with the Chapter 9, Section 10 of the Finnish Securities Market Act from Adelis Holding I AB ("Adelis"), according to which Puuilo Invest Holding AB, a company ultimately owned by Adelis, has sold a total number of 7,000,000 Company's shares in a share sale (the "Share Sale"). In connection with the Share Sale, Adelis's indirect holding of the shares and votes of the Company has decreased below 15 percent. As a result of the Share Sale, Adelis's indirect holding in the Company totals to 8,818,242 shares and votes (amounting to 10.40 percent of all the shares and votes in the Company).

Total positions of Adelis according to notification:

	% of shares and voting rights (total of A)	% of shares and voting rights through financial instruments (total of B)	Total of both in % (A + B)	Total number of shares and voting rights of issuer
Resulting situation on the date on which threshold was crossed or reached	10.40%	0	10.40%	84,776,953
Position of previous notification (if applicable)	18.66%	0	18.66%

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

A: Shares and voting rights

Class/type of shares	Number of shares and voting rights	% of shares and voting rights
ISIN code (if possible)	Direct (SMA 9:5)	Indirect (SMA 9:6 and 9:7)	Direct (SMA 9:5)	Indirect (SMA 9:6 and 9:7)
FI4000507124	N/A	8,818,242	N/A	10.40%
SUBTOTAL A	8,818,242	10.40%

Information in relation to the person subject to the notification obligation:

Full chain of controlled undertakings through which the shares, voting rights or financial instruments are effectively held (starting with the ultimate controlling natural person or legal entity):

Name	% of shares and voting rights	% of shares and voting rights through financial instruments	Total of both
Adelis Holding I AB	0	0	0
Adelis Equity Partners Fund I AB	0	0	0
Puuilo Invest Holding AB	10.40%	0	10.40%

**

For further information, please contact:

**Ville Ranta, CFO, mobile phone: +358 40 555 4995