Exel Composites Oyj - Major shareholder announcements

Exel Composites Plc: Notification of Change in Holdings according to Chapter 9, Section 10 of the Finnish Securities Markets Act

EXEL COMPOSITES PLC          STOCK EXCHANGE RELEASE        31 MAY 2024 AT 21:50
EEST

Exel Composites Plc has on 31 May 2024 received a notification pursuant to
Chapter 9, Section 5 of the Finnish Securities Markets Act, according to which
the holding of funds managed by OP Fund Management Company Ltd has decreased
below 5% of the voting rights and share capital in Exel Composites Plc.

Through share transactions concluded on 30 May 2024, the holding of funds
managed by OP Fund Management Company Ltd amounts to 502,804 shares representing
4.23% of the shares and voting rights of Exel Composites Plc. The previous
holding of funds managed by OP Fund Management Company Ltd represented 6.39% of
the shares and voting rights of Exel Composites Plc.

Exel Composites has a total of 11,896,843 shares. The company has only one class
of shares, each share entitling to one vote.

Total position of OP Fund Management Company Ltd referred to in the
notification:

+----------------+------+-----------+-----+----------------------+
|                |% of  |% of shares|Total|Total number of shares|
|                |shares|and voting |of   |and voting rights of  |
|                |and   |rights     |both |issuer                |
|                |voting|through    |     |                      |
|                |rights|financial  |     |                      |
|                |      |instruments|     |                      |
+----------------+------+-----------+-----+----------------------+
|Resulting       |4.23% |           |4.23%|11,896,843            |
|situationafter  |      |           |     |                      |
|reaching        |      |           |     |                      |
|or exceeding the|      |           |     |                      |
|flagging        |      |           |     |                      |
|threshold       |      |           |     |                      |
+----------------+------+-----------+-----+----------------------+
|Position of     |6.39% |           |6.39%|                      |
|previous        |      |           |     |                      |
|notification    |      |           |     |                      |
+----------------+------+-----------+-----+----------------------+

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

A: Shares and voting rights

+------------+-------------+-----------------+---------------------------+-+
|Share       |Number of                      |% of shares and voting rights|
|class/type  |shares and                     |                             |
|(ISIN)      |voting rights                  |                             |
+------------+-------------+-----------------+---------------------------+-+
|Direct (FSMA|Indirect     |Direct (FSMA 9:5)|Indirect (FSMA 9:6 and 9:7)|
|9:5)        |(FSMA 9:6 and|                 |                           |
|            |9:7)         |                 |                           |
+------------+-------------+-----------------+---------------------------+-+
|FI0009007306|502,804      |                 |4.23%                      | |
+------------+-------------+-----------------+---------------------------+-+
|Subtotal A  |502,804                        |4.23%                        |
+------------+-------------+-----------------+---------------------------+-+

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     |                             |             |
+-----------+-----------+-----------------------------+-------------+
|OP Fund    |0.00%      |                             |0.00%        |
|Management |           |                             |             |
|Company Ltd|           |                             |             |
+-----------+-----------+-----------------------------+-------------+
|OP-Finland |4.23%      |                             |4.23%        |
|Small Firms|           |                             |             |
|Fund       |           |                             |             |
+-----------+-----------+-----------------------------+-------------+

For further information, please contact:

Lilli Riikonen, Head of Investor Relations
investor@exelcomposites.com
tel. +358 50 351 1128

Exel Composites in brief

Exel Composites is one of the largest manufacturers of composite profiles and
tubes made with pultrusion and pullwinding technologies and a pultrusion
technology forerunner in the global composite market. Our forward-thinking
composite solutions made with continuous manufacturing technologies serve
customers in a wide range of industries around the world. You can find our
products used in applications in diverse industrial sectors such as wind power,
transportation and building and infrastructure.

Our R&D expertise, collaborative approach and global footprint set us apart from
our competition. Our composite solutions help customers save resources, reduce
products' weight, improve performance and energy efficiency, and decrease total
lifetime costs. We want to be the first choice for sustainable composite
solutions globally.

Headquartered in Finland, Exel Composites employs over 600 forward-thinking
professionals around the world and is listed on Nasdaq Helsinki. To find out
more about our offering and company please visitwww.exelcomposites.com.

Exel Composites Plc