Neles Oyj - Changes board/management/auditors

Neles to accelerate its strategy implementation with a new operating model and organization, including changes in executive management team

Neles Corporation, Stock exchange release, January 25, 2022, at 9.00 a.m. EET

Neles Corporation has decided on a new operating model and organization,
effective from February 7, 2022. The new organization is designed to accelerate
strategy implementation by strengthening Neles’ long-term offering development
and diversification to new customer industries. The other main objective of the
change is to better align Neles’ organization and processes with the specific
requirements of customer segments.

"Becoming a leading diversified valve and valve automation company reinventing
reliability in flow control is based on our ability to constantly innovate,
improve, and expand our presence in new customer industries and segments. While
the fundamentals of Neles’ strategy and business portfolio remain unchanged, we
will implement a new organizational structure in which business lines are built
based on a more customer-centric approach. This will also allow us to drive
growth in markets where there is untapped growth potential and improve our
ability to serve our customers throughout the life cycle of their plants," says
Simo Sääskilahti, Interim President and CEO of Neles.

"We will further strengthen the business processes in project delivery and
management as well as Maintenance and Repair Operations (MRO) businesses while
maintaining the focus in developing capabilities in Services and in Valve
Controls and Actuators. Additionally, we’ll increase our focus on innovation and
industry-specific offering development to provide better solutions for
sustainability, efficiency, and productivity for our customers," he continues.

Neles’ new business lines will be

  · Projects
  · MRO and Service
  · Valve Controls and Actuators

A new global function, Products and Solutions, will focus on developing and
implementing industry-specific strategies and offering, including product
management, and R&D.

Neles’ operating model also continues to include global operations, corporate
functions and four market areas.

Tuomo Paukkula has been appointed as Head of the Projects business line and a
member of Neles’ executive management team as of February 7, 2022. He is
currently VP, Project Business at Neles. Tuomo Paukkula’s CV is attached to this
release.

Other members of the executive management team remain unchanged with few changes
in individual roles: Sami Nousiainen, MRO and Service; Kalle Suurpää, Valve
Controls and Actuators; Jon Jested-Rask, Products and Solutions; Kevin Tinsley,
Global Operations; Timo Hänninen, EMEIA market area; Patrick Dunn, North
America; Fabio Maia; South America, Tan HangPheng, APAC; Elisa Erkkilä, Legal
and Compliance; Hanne Peltola, Human Resources; and Kaisa Voutilainen,
Communications and Marketing.

All executive management team members will report to Neles’ Interim President
and CEO Simo Sääskilahti. The change does not impact Neles’ financial reporting.

NELES CORPORATION

For further information, please contact:

Communications, tel. +358 400 188414

Investor relations, tel. + 358 400 954141

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 576 million in 2020. Neles employs about
2,950 people in approximately 40 countries.

www.neles.com, twitter.com/nelesflow

Attachments:

CV_Tuomo Paukkula_EN.pdf