HKScan Oyj - Major shareholder announcements

HKScan Corporation: Flagging notification in accordance with Chapter 9, Section 10 of the Securities Markets Act

HKScan Corporation, Stock exchange release 28 March 2024 at  10.00 a.m. EET

HKScan Corporation has on 28 March 2024 received a notification from LSO
Osuuskunta under Chapter 9, Section 5 of the Finnish Securities Markets Act,
according to which HKScan Corporation's (an entity controlled by LSO Osuuskunta)
total holding of own shares has increased above five (5) per cent of shares on
27 March 2024.

According to the notification, HKScan Corporation has on 27 March 2024 announced
that it has acquired a total of 7,534,750 own shares. HKScan Corporation is an
entity controlled by LSO Osuuskunta, and therefore the flagging notification
concerns HKScan Corporation's holding of own shares exceeding the relevant
threshold as a result of the acquisition. On 27 March 2024, HKScan Corporation's
total holding of own shares has increased above five (5) per cent. In accordance
with the Finnish Companies Act (624/2006, as amended), own shares held by HKScan
Corporation do not entitle to any rights in the company.

Total positions of LSO Osuuskunta according to the notification:

                  % of    % of shares  Total of   Total number of shares
                  shares  and voting   both in %  and voting rights of
                  and     rights                  issuer
                  voting  through
                  rights  financial
                          instruments
Resulting         39.27%  -            39.27% of  98,951,781 shares
situation on the  of                   shares     201,551,781 votes
date on           shares               59.43% of
which threshold   59.43%               votes
was crossed or    of
reached           votes
Positions of      30.13%  -            30.13% of
previous          of                   shares
notification      shares               59.43% of
(if applicable)   59.43%               votes
                  of
                  votes

Notified details of the resulting situation on the date on which the threshold
was crossed or reached:

A: Shares and voting rights

Class / type of  Number of                   % of
shares           shares and                  shares
                 voting                      and
                 rights                      voting
                                             rights
                 Direct (SMA  Indirect (SMA  Direct    Indirect (SMA
                 9:5)         9:6 and 9:7)   (SMA      9:6 and 9:7)
                                             9:5)
Series A share,  25,083,884   8,376,408      25.35%    8.47% of
ISIN code                     shares         of        shares
FI0009006308                  0 votes        shares    0.00% of
                                             12.45%    votes
                                             of votes
Series K share,  4,735,000    665,000        4.79% of  0.67% of
ISIN code        shares       shares         shares    shares
FI0009006662     94,700,000   0 votes        46.99%    0.00% of
                 votes                       of votes  votes
Subtotal A       38,860,292                  39.27%
                 shares                      of
                 119,783,884                 shares
                 votes                       59.43%
                                             of votes

Full chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held starting with the ultimate
controlling natural person or legal entity:

Name         % of shares     % of shares and voting rights  Total of both
             and voting      through financial instruments
             rights
LSO          30.13% of                                      30.13% of shares
Osuuskunta   shares                                         59.43% of votes
             59.43% of
             votes
HKScan       9.14% of                                       9.14% of shares
Corporation  shares                                         0.00% of votes
             0.00% of votes

HKScan's shares are divided into two share series as follows: 93,551,781 A
shares (94.54 per cent of the total number of shares) and 5,400,000 K shares
(5.46 per cent of the total number of shares). Each A share entitles to one (1)
vote, and each K share entitles to twenty (20) votes.

For further information
Markku Suvanto, EVP Administration and Legal, tel. +358 10 570 6914 or by email
markku.suvanto@hkscan.com
HKScan Media Service Desk, email communications@hkscan.com or tel. +358 10 570
5700


With 110 years of experience, we at HKScan make life tastier - today and
tomorrow. Our strategic target is to grow into a versatile food company. Our
home markets are Finland and Denmark, where around 3,600 of our professionals
make responsible and locally produced food for consumers' varied food moments.
Our well-known brands include HK®, Kariniemen®, Via® and Rose®. We are
developing a more climate-friendly way of producing food. HKScan is a publicly
listed company, and in 2023, our net sales from continuing operations totalled
nearly EUR 1.2 billion. www.hkscan.com

Attachments:

03273802.pdf