YIT Oyj — Capital/Financing Update 2021

Mar 25, 2021

YIT Announces Final Tender Offer Results for its outstanding notes due 2021 and 2023

YIT Announces Final Tender Offer Results for its outstanding notes due 2021 and 2023

YIT Corporation    Stock Exchange Release    25 March 2021 at 8:30 p.m.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, HONG KONG, JAPAN,
NEW ZEALAND, SINGAPORE, SOUTH AFRICA OR SUCH OTHER COUNTRIES OR OTHERWISE IN
SUCH CIRCUMSTANCES IN WHICH THE OFFERING OF THE NEW NOTES, OR THE CAPITAL
SECURITIES, THE TENDER OFFER OR THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD
BE UNLAWFUL.

YIT Announces Final Tender Offer Results for its outstanding notes due 2021 and
2023

YIT Corporation announces today the final results of the invitation to the
holders of its EUR 100 million 3.150 per cent notes due 11 June 2021 (ISIN:
FI4000330824) (the “2021 Notes”) and holders of its EUR 150 million 4.250 per
cent notes due 11 June 2023 (ISIN: FI4000330832) (the “2023 Notes” and, together
with the 2021 Notes, the “Notes”) to tender the Notes for cash on the terms and
conditions set out in the Tender Offer Memorandum dated 16 March 2021.

The aggregate nominal amount of the notes validly tendered by the noteholders
for purchase pursuant to the Tender Offer was EUR 96.53 million for the 2021
Notes and EUR 104.939 million for the 2023 Notes.

The acceptance by the company of any Notes for purchase is subject to, without
limitation, the pricing of the issue of new notes as announced on 25 March 2021.
The company announces that the new issue condition has been fulfilled and
accordingly, pursuant to the terms and conditions of the Tender Offer
Memorandum, any and all of the 2021 Notes and the 2023 Notes validly tendered by
the noteholders for purchase will be accepted in full.

The purchase price of the 2021 Notes is EUR 1,007.88 per note with nominal
amount of EUR 1,000. The purchase price of the 2023 Notes is EUR 1,021.25 per
note with nominal amount of EUR 1,000. The company will also pay accrued and
unpaid interest on the 2021 Notes and the 2023 Notes (amounting to 0.963 per
cent for the 2021 Notes and 1.299 per cent for the 2023 Notes) accepted for
purchase pursuant to the Tender Offer.

The settlement date of the Tender Offer is set to 31 March 2021. All of the 2021
Notes and the 2023 Notes purchased by the company will be cancelled. The 2021
Notes and the 2023 Notes not tendered pursuant to the Tender Offer will be
voluntarily redeemed on 8 April 2021 as announced on 16 March 2021.

OP Corporate Bank plc acts as Dealer Manager and Tender Agent for the Tender
Offer. Information in respect of the Tender Offer may be obtained from the
Dealer Manager.

Dealer Manager:
OP Corporate Bank plc, +358 50 599 1281, liabilitymanagement@op.fi

Tender Agent:
OP Corporate Bank plc

Additional information:
Karo Nukarinen, SVP, Treasury, YIT Corporation, tel. +358 50 564 0920,
karo.nukarinen@yit.fi
Tommi Järvenpää, VP, Investor Relations, YIT Corporation, tel. +358 40 576 0288,
tommi.jarvenpaa@yit.fi

YIT CORPORATION

Tommi Järvenpää
Vice President, Investor Relations

Distribution: Nasdaq Helsinki, major media, www.yitgroup.com

YIT is the largest Finnish and a significant North European urban developer and
construction company. Our goal is to create more sustainable, functional and
attractive cities and living environments. We develop and build apartments,
business premises and entire areas. We also specialise in demanding
infrastructure construction. We own properties together with our partners, which
supports the implementation of our significant development projects. We also
provide our customers with services that increase the value of properties. We
employ approximately 7,400 professionals in ten countries: Finland, Russia,
Sweden, Norway, Estonia, Latvia, Lithuania, the Czech Republic, Slovakia and
Poland. Our revenue in 2020 was approximately EUR 3.1 billion. YIT Corporation's
share is listed on Nasdaq Helsinki Oy. www.yitgroup.com

Important Information

The information contained herein is not for release, publication or
distribution, in whole or in part, directly or indirectly, in or into the United
States, Australia, Canada, Hong Kong, Japan, New Zealand, Singapore, South
Africa or such other countries or otherwise in such circumstances in which the
release, publication or distribution would be unlawful. The information
contained herein does not constitute an offer to sell or the solicitation of an
offer to buy, nor shall there be any sale of, the New Notes or Capital
Securities in any jurisdiction in which such offer, solicitation or sale would
be unlawful prior to registration, exemption from registration or qualification
under the securities laws of any such jurisdiction. No actions have been taken
to register or qualify the New Notes or the Capital Securities, or otherwise to
permit a public offering of the New Notes or Capital Securities, in any
jurisdiction.

This communication does not constitute an offer of securities for sale in the
United States. The New Notes and Capital Securities have not been and will not
be registered under the U.S. Securities Act of 1933, as amended (the "Securities
Act") or under the applicable securities laws of any state of the United States
and may not be offered, sold, pledged or otherwise transferred, directly or
indirectly, within the United States or to, or for the account or benefit of,
any U.S. person (as such terms are defined in Regulation S under the Securities
Act) except pursuant to an applicable exemption from, or in a transaction not
subject to, the registration requirements of the Securities Act.

This communication does not constitute an offer of New Notes or Capital
Securities to the public in the United Kingdom. No prospectus has been or will
be approved in the United Kingdom in respect of the New Notes or Capital
Securities. Consequently, this communication is addressed to and directed only
at persons in the United Kingdom in circumstances where provisions of section
21(1) of the Financial Services and Markets Act 2000 as amended, do not apply
and are solely directed at persons in the United Kingdom who (a) have
professional experience in matters relating to investments falling within
Article 19(5) of the Financial Services and Markets Act 2000 (Financial
Promotion) Order 2005 (the “Order”) or (b) persons falling within Article
49(2)(a) to (d) of the Order, or other persons to whom they may be lawfully
communicated (all such persons together being referred to as “relevant
persons”). This release is directed only at relevant persons and any person who
is not a relevant person must not act or rely on this release or any of its
contents.