2020-07-02 18:00:00 CEST

2020-07-02 18:00:05 CEST


REGULATED INFORMATION

English
Neles Oyj - Other information disclosed according to the rules of the Exchange

Neles Corporation has received a request from Valmet Corporation to convene an Extraordinary General Meeting; Change in the composition of the Shareholders' Nomination Board


Neles Corporation, stock exchange release, July 2, 2020 at 19:00 EEST

In accordance with a stock exchange release published by Neles Corporation
("Neles" or the "Company") on July 1, 2020 Valmet Corporation ("Valmet") has on
July 1, 2020 executed a share purchase on the basis of a share purchase
agreement published on June 17, 2020. As a result of the share purchase,
Valmet’s ownership in Neles is 22,374,869 shares, which represents 14.88% of
Neles’ total shares. In accordance with a stock exchange release published by
Valmet on June 17, 2020, Valmet has purchased the shares from Solidium Oy
("Solidium").

The Board of Directors of Neles has today, on July 2, 2020, received a request
from Valmet in accordance with Chapter 5 Section 4 of the Finnish Companies Act
to convene an Extraordinary General Meeting. In connection with its request,
Valmet has proposed that the Extraordinary General Meeting resolve that the
Board of Directors of Neles shall have eight (8) members. Further, Valmet has
proposed that, for a term of office expiring at the end of the next Annual
General Meeting of the Company, in addition to incumbent members of the Board of
Directors, Jukka Tiitinen, currently Valmet's Area President, Asia Pacific, be
elected as a member of the Board of Directors of Neles.

The company will address the request by Valmet and convene an Extraordinary
General Meeting within the statutory schedule.

In addition, Solidium's representative Petter Söderström has notified Neles that
he has resigned from Neles' Shareholders’ Nomination Board, as Solidium is no
longer among the four largest shareholders of Neles.

NELES CORPORATION

For further information, please contact:

Elisa Erkkilä, General Counsel, Neles Corporation, tel. +358 40 754 4411

Rita Uotila, Vice President, Investor Relations, Neles Corporation, tel.
+358 400 954141

Neles Corporation

Distribution:

Nasdaq Helsinki

Media

www.neles.com

Neles is one of the leading providers of mission-critical flow control solutions
and services for process industries. With our global team of experts and
innovative solutions, we help our customers to improve their process performance
and ensure the safe flow of materials. Neles is listed on the Nasdaq Helsinki in
Finland and had sales of about EUR 660 million in 2019. Neles employs about
2,900 people in approximately 40 countries. Neles was created in the partial
demerger of Metso Corporation, and trading in Neles stock started on July 1,
2020.

www.neles.com, Twitter (http://www.twitter.com/nelesflow)