Huhtamäki Oyj considers the issuance of new euro-denominated fixed rate notes (‘New Notes’). The issuance of New Notes may take place in the near future subject to market conditions. In addition, OP Corporate Bank plc (‘Offeror’) invites the holders of the EUR 200 million 3.375% notes due May 14, 2020 issued by Huhtamäki Oyj (‘Notes’), to tender their Notes for cash on the terms and conditions set out in the tender offer memorandum dated September 18, 2017 (‘Tender Offer’). The Offeror proposes to accept for purchase an aggregate principal amount of Notes validly tendered in the Tender Offer of up to EUR 150 million. The Offeror however reserves the right, in its sole discretion, to decide on the acceptance for purchase of the Notes, including not to accept any purchase of the Notes. If the Offeror decides to accept for purchase Notes and the aggregate principal amount of Notes validly tendered pursuant to the Tender Offer is more than the amount accepted for purchase pursuant to the Tender Offer (‘Final Acceptance Amount’), the Offeror intends to accept such Notes for purchase on a pro rata basis. The purchase price of the Notes is EUR 1,086.70 per Notes with nominal amount of EUR 1,000.00. Accrued and unpaid interest will be paid in respect of all the Notes validly tendered and delivered and accepted for purchase. The acceptance of the Tender Offer is subject to, without limitation, the pricing of the issue of the New Notes and the execution of an issuance agreement between the joint lead managers and Huhtamäki Oyj. The Tender Offer period begins on September 18, 2017 and closes at 4:00 p.m. Finnish time (EEST) on September 26, 2017. The indicative tender offer results will be announced on or about September 27, 2017, and the final tender offer results and completion date will be announced as soon as feasible, but no later than October 5, 2017. The settlement date of the Tender Offer will in no case be later than October 12, 2017, subject to the completion of the issue of the New Notes. A noteholder that wishes to subscribe for New Notes in addition to tendering Notes for cash pursuant to the Tender Offer may receive priority in the allocation of the New Notes (‘New Issue Allocation’). The New Issue Allocation may be given for an aggregate nominal amount of New Notes up to the aggregate nominal amount of Notes subject to a noteholder's valid tender instruction, where an allocation of New Notes is also requested. Such tender instruction must relate to a minimum of EUR 100,000 in aggregate nominal amount of Notes in order to comply with the minimum subscription amount of the New Notes. New Issue Allocations will be subject to the same pro rata scaling as the Notes pursuant to the Tender Offer, so the New Issue Allocations will not exceed the Final Acceptance Amount. If any noteholder wishes to subscribe for New Notes it must make an application to subscribe for such New Notes to any of the joint lead managers of the issue of the New Notes. Nordea Bank AB (publ) and OP Corporate Bank Plc act as joint lead managers for the issue of the New Notes. OP Corporate Bank plc acts as offeror, dealer manager and tender agent for the Tender Offer.