· Adjusted operating margin 14%, supported by resilient business mix
  · Organic revenue growth -4% - impacted by Covid-19
  · Industry Software profitability over 20%
  · Integration on schedule and synergy contribution to profit EUR 11 million as
planned
  · Guidance restored as announced on 20 October

The full interim report with tables is available at the end of this release.

About this report

Tieto's and EVRY's merger was concluded on 5 December 2019. This report is based
on the official financial figures of TietoEVRY, with EVRY being consolidated as
from 5 December 2019.

COMPARABLE FINANCIAL INFORMATION for illustrative purposes

The new operating model became effective on 1 January 2020 and financial
reporting has been prepared in accordance with the new structure as from the
second-quarter interim report. As additional information, the report includes
comparable financial information for TietoEVRY with figures for 2019 restated to
account for the current segments.

[][][][]
                                                   7-9/2020  7-9/2019
Revenue, EUR million                               643.8     639.2
   Change, %                                        -7.1            -
   Organic growth[1)], %                            -4.3            -
Operating profit (EBIT), EUR million                28.6      67.6
Operating margin (EBIT), %                           4.4       9.7
Adjusted[2)] operating profit (EBIT), EUR million   90.2      91.2
Adjusted[2)] operating margin (EBIT), %             14.0      13.2
One-time items, EUR million                         61.5      23.6
Order backlog, EUR million                         3 197            -
Net debt/EBITDA[3)]                                  2.9            -

[1)] Adjusted for currency effects and impact from acquisitions and divestments
[2)] Adjusted for amortization of acquisition-related intangible assets,
restructuring costs, capital gains/losses, goodwill impairment charges and other
items affecting comparability.
[3) ]EBITDA is 12-month average including the full period for both Tieto and
EVRY. This is in line with the additional debt due to the merger being included
in net debt.

Full-year outlook for 2020

TietoEVRY expects its comparable full-year adjusted[1][)] operating profit
(EBIT) to increase from the previous year's level (Tieto's and EVRY's adjusted
operating profit combined amounted to a total of EUR 341.7 million in 2019).

[1)] Adjusted for amortization of acquisition-related intangible assets,
restructuring costs, capital gains/losses, goodwill impairment charges and other
items affecting comparability

CEO's comment

Comment regarding the interim report by Kimmo Alkio, President and CEO:

"I'm pleased to share that we have made strong progress in terms of overall
performance and the integration of TietoEVRY. As Covid-19 has continued to
create uncertainty across society, our markets and businesses, we have been able
to provide continuity for our customers and have demonstrated good business
resilience.

While Covid-19 had a higher negative impact on revenue in the third quarter than
in previous quarters, we achieved strong adjusted operating profit of 14%. Our
integration continues to progress at a fast pace and synergy realization is
contributing to business performance, as communicated earlier. We are well on
our way to realizing the value creation potential of the ongoing merger for the
benefit of our customers, employees and shareholders.

Of our businesses, we are most delighted with the positive development of our
Industry Software, which reached over 20% profitability as a result of
systematic long-term transformation. Positive momentum also continues in our
Financial Services Solutions business with several new wins in both the Nordics
and international markets. Covid-19's impact on revenue was most visible in our
Digital Consulting and Product Development Service businesses. The
infrastructure business is continuing to transform its delivery and partnership
model and temporarily delivering lower profitability.

We are pleased to have reinstated our annual guidance, as announced on 20
October 2020, with the expectation of improving our profitability (combined
adjusted EBIT) from the previous year's level.

I would like to thank all TietoEVRY colleagues for their continued adaptation to
the implications of the global pandemic. We have a great opportunity to
accelerate digitalization of enterprises and the public sector - to create
higher value for society, our customers, employees and shareholders."

Comparable financial information for illustrative purposes

This section includes comparable financial information with comparison figures
restated to account for the new segment structure.

Financial performance

[][][][][]
             Revenue,  Revenue,   Growth,   Organic  Adjusted[1)]  Adjusted[1)]
Adjusted[1)]  Adjusted[1)]
                  EUR       EUR         %   growth,     operating     operating
operating     operating
              million   million               %[2)]   profit, EUR   profit, EUR
margin, %      margin %
                                                          million       million
             7-9/2020  7-9/2019  7-9/2020  7-9/2019      7-9/2020      7-9/2019

Digital         143.0     162.6       -12        -9          21.1          18.5
14.7          11.4
Consulting
Cloud &         219.3     244.7       -10        -9          24.0          36.0
10.9          14.7
Infra
Industry        115.1     118.6        -3        -1          25.0          19.5
21.7          16.4
Software
Financial       101.2     103.4        -2         3          15.4          15.7
15.2          15.2
Services
Solutions
Product          33.3      34.3        -3        -4           4.1           3.1
12.3           9.0
Development
Services
Other            31.9      29.7         7        16           0.6          -1.6
-             -
Total           643.8     693.2        -7        -4          90.2          91.2
14.0          13.2

[1)] Adjusted for amortization of acquisition-related intangible assets,
restructuring costs, capital gains/losses, goodwill impairment charges and other
items affecting comparability
[2)] Adjusted for currency effects and impact from acquisitions and
divestments


For further information, please contact:
Tomi Hyryläinen, Chief Financial Officer, tel. +358 50 555 0363, tomi.hyrylainen
(at) tietoevry.com (tomi.hyrylainen%40tietoevry.com)
Kjell Arne Hansen, Head of Investor Relations, tel. +47 9504 0372, kjell.hansen
(at) tietoevry.com (kjell.hansen%40tietoevry.com)

A teleconference for analysts and media will be held on Tuesday 27 October 2020
at 10.00 am EEST (9.00 am CET, 8.00 am UK time). Kimmo Alkio, President and CEO,
and Tomi Hyryläinen, CFO, will present the results online in English. The
presentation (https://tieto.videosync.fi/2020-q3-results) can be followed on
TietoEVRY's website (https://www.tietoevry.com/en/investor-relations/).

Teleconference numbers

Finland: +358 981 710 310
Sweden: +46 856 642 651
Norway: +47 235 002 43
United Kingdom: +44 333 300 0804
United States: +1 631 913 1422
Conference code: 96660772#

To ensure that you are connected to the conference call, please dial in a few
minutes before the start of the press and analyst conference. The teleconference
is recorded and it will be available on demand later during the day.

TietoEVRY publishes its financial information in English and Finnish.

TIETOEVRY CORPORATION

DISTRIBUTION
NASDAQ Helsinki
Oslo Børs
Principal Media

TietoEVRY creates digital advantage for businesses and society. We are a leading
digital services and software company with local presence and global
capabilities. Our Nordic values and heritage steer our success.

Headquartered in Finland, TietoEVRY employs around 24 000 experts globally. The
company serves thousands of enterprise and public sector customers in more than
90 countries. TietoEVRY's annual turnover is approximately EUR 3 billion and its
shares are listed on the NASDAQ in Helsinki and Stockholm as well as on the Oslo
Börs. www.tietoevry.com

Click here for more information

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