YIT - Inside information

YIT announces positive results from the written procedure for its senior unsecured green fixed rate notes due 2026

YIT Corporation Stock Exchange Release 10 June 2024 at 5:30 p.m.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, TO ANY
PERSON LOCATED OR RESIDENT IN OR INTO AUSTRALIA, CANADA, HONG KONG, JAPAN, NEW
ZEALAND, SINGAPORE, SOUTH AFRICA, THE UNITED STATES OR ANY OTHER JURISDICTION
WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL OR REQUIRE
REGISTRATION OR ANY OTHER MEASURES.

YIT announces positive results from the written procedure for its senior
unsecured green fixed rate notes due 2026

YIT Corporation (“YIT”) announced on 3 June 2024 the commencement of  the
written procedure (the “Written Procedure”) and approached the holders of its
EUR 100,000,000 senior unsecured green fixed rate notes due 2026 (ISIN:
FI4000496302) (the “Notes”) to solicit consents to amend the terms and
conditions of the Notes (the “Proposal”) as may be required for a contemplated
issue of EUR 100,000,000 expected green euro denominated floating rate senior
secured notes with maturity date in 2027 (the “New Notes”) relating to, among
others, the accession of the holders of the Notes and of the New Notes to the
shared security pool currently also securing the existing EUR 300 million
revolving credit facility and the EUR 140 million term loan facility of YIT (the
“Amendments”). Today, YIT announces that the Proposal was approved by a required
majority of the holders of the Notes participating in the Written Procedure.

The Amendments will become effective on the date the conditions precedent set
out in the notice of Written Procedure have been satisfied and YIT and
Intertrust (Finland) Oy (the “Noteholders' Agent”) have taken all measures
required to amend and restate the terms and conditions of the Notes in
accordance with the Proposal (the “Effective Date”), provided that such date
must in any case be prior to 1 July 2024 (the “Back Stop Date”). YIT will issue
a stock exchange release when the Effective Date has occurred. In the event the
Effective Date does not occur by the Back Stop Date, the terms and conditions of
the Notes will remain unchanged.

In accordance with the Proposal, subject to the occurrence of the Effective Date
prior to the Back Stop Date, YIT shall pay each holder of the Notes a consent
fee (the “Consent Fee”) in an amount equal to 0.30 per cent of the nominal
amount of each Note and, in addition to the Consent Fee, an early bird consent
fee (“Early Bird Consent Fee”) to each relevant holder of the Notes in an amount
equal to 0.20 per cent of the nominal amount of all Notes voted by such
noteholder (irrespective of whether such vote was for or against the Proposal)
for which a valid voting instruction was submitted to the Noteholders' Agent
prior to 15:00 (Finnish time) on 10 June 2024. The payment of the Consent Fee
and the Early Bird Consent Fee shall be made on the date which falls ten (10)
business days after the Effective Date.

Danske Bank A/S, Nordea Bank Abp and OP Corporate Bank plc act as Joint
Solicitation Agents in respect of the Written Procedure.

YIT CORPORATION

For more information:
For further questions regarding the Proposal, please contact YIT at
markus.pietikainen@yit.fi or +358 40 525 3024 or the Joint Solicitation Agents
at: (i) for Danske Bank A/S, liabilitymanagement@danskebank.dk or +45 33 64 88
51, (ii) for Nordea Bank Abp, NordeaLiabilityManagement@nordea.com or +45 6136
0379, or (iii) for OP Corporate Bank plc, liabilitymanagement@op.fi or +358 50
599 1281.

For further questions regarding the administration of the Written Procedure,
please contact the Noteholders' Agent at finland@intertrustgroup.com with copies
to sanna.linnaaro@cscglobal.com and simo.akerberg@cscglobal.com or +358 50 369
5137 and +358 50 414 5969.

Distribution: Nasdaq Helsinki, major media, www.yitgroup.com

YIT is a leading construction and development company. Building on over 110
years of experience, we develop and build sustainable living environments:
functional homes, future-proof public and commercial buildings, and
infrastructure to support the green transition. We employ approximately 4,300
professionals in eight countries. Our revenue in 2023 was EUR 2.2 billion. YIT
Corporation's shares are listed on Nasdaq Helsinki.

Read more: www.yitgroup.com and follow us
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Important Information

In respect of the consent solicitation process, this announcement must be read
in conjunction with the notice of written procedure. If any noteholder is in any
doubt as to the contents of this stock exchange release, the information
contained in the notice of written procedure or the action it should take, such
noteholder should seek its own financial and legal advice, including in respect
of any tax consequences, immediately from its broker, bank manager, solicitor,
accountant or other independent financial tax or legal adviser.

Neither this announcement nor the notice of written procedure constitutes an
invitation to participate in the consent solicitation in any jurisdiction in
which, or to any person to or from whom, it is unlawful to make such invitation
or for there to be such participation under applicable securities laws.

In a number of jurisdictions, in particular in Australia, Canada, South Africa,
Singapore, Japan and the United States, the distribution of this announcement or
the notice of written procedure may be subject to restrictions imposed by law
(such as registration of the relevant offering documents, admission, qualification
and other regulations). Persons into whose possession this announcement or the
notice of written procedure comes are required to inform themselves about, and
to observe, any such restrictions. In particular, none of the securities
referenced in this announcement, including the notes, nor the notice of written
procedure have been registered or will be registered under the United States
Securities Act of 1933, as amended (the “Securities Act”) or the securities laws
of any state of the United States and as any securities may not be offered or
sold (and the consent solicitation is not being made) in the United States
except pursuant to an exemption from registration under the Securities Act.

The consent solicitation is only being made outside the United States. Neither
this announcement nor the notice of written procedure is an offer to sell or the
solicitation of an offer to buy any securities and shall not constitute an offer
solicitation or sale in the United States or any other jurisdiction in which
such offering solicitation or sale would be unlawful. This announcement or the
notice of written procedure must not be released or otherwise forwarded,
distributed, or sent, directly or indirectly, in whole or in part, in or into
the United States or any jurisdiction where the distribution of these materials
would breach any applicable law or regulation or would require any registration
or licensing within such jurisdiction. Failure to comply with the foregoing
limitation may result in a violation of the Securities Act or other applicable
securities laws.