Pursuant to the combination agreement between Valmet Oyj (‘Valmet') and Neles Corporation (‘Neles') concerning the merger of the companies, the board of directors of Neles has resolved based on the authorization given to it by the annual general meeting 2022, that an extra dividend of EUR 1.74 per share will be distributed from the company's retained earnings and a return of equity of EUR 0.26 per share will be distributed from the invested unrestricted equity fund (the dividend and the return of equity together the ‘Extra Distribution'). The Extra Distribution payable constitutes therefore in total EUR 2.00 per share. The extra distribution will be paid on March 31, 2022, to shareholders who are on the record date of the extra distribution, March 24, 2022, entered in Neles' shareholder register maintained by Euroclear Finland Oy.

In deviation of the aforesaid and as announced earlier March 22, 2022, Valmet's part of the extra distribution, approximately EUR 88.8 million, will remain as debt owed to Valmet and will extinguish as a consequence of the execution of the merger.