Cargotec Corporation (Cargotec) announced on 8 February 2024 the commencement of the written procedures and approached the holders of its EUR 100,000,000, 1.250% senior unsecured notes due 2025 and EUR 150,000,000, 1.625% senior unsecured notes due 2026 with a proposal to solicit consents, waivers and decisions to amend the terms and conditions of the Notes (the ?Amendments?) as may be required for, or in relation to, the partial demerger of Cargotec as announced on 1 February 2024 (the ?Demerger?). Cargotec announces that the Proposal was approved by a required majority of the holders of the 2025 Notes and 2026 Notes participating in the respective Written Procedure. The Consents and Waivers became effective immediately upon approval in the Written Procedures, and the Amendments will become effective at the completion of the Demerger (the ?Effective Date?).

The Effective Date is expected to take place on 30 June 2024. Cargotec will issue a stock exchange release when the Effective Date has occurred. In the event the Effective Date does not occur by 30 September 2024 (the ?Back Stop Date?), any and all Consents, Waivers and Amendments, sanctioned by the holders of the Notes in accordance with the Proposal shall lapse.

Notwithstanding the aforesaid, Cargotec has the right, but not the obligation, in its sole discretion to pay the Consent Fee and the Early Bird Consent Fee before the Back Stop Date regardless of whether the Effective Date has occurred in which case the Proposal will become effective in full.