2020-10-23 18:55:00 CEST

2020-10-23 18:55:00 CEST


REGULATED INFORMATION

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

CORRECTION: Change in the composition of the Shareholders’ Nomination Board of Neles Corporation


Neles Corporation, Stock exchange release on October 23, 2020 at 7:55 p.m.

Corrected release: correction relates to Cevian's representative to the
Shareholder's Nomination Board.

Varma Mutual Pension Insurance Company has transferred more than half of the
shares it held in Neles Corporation (“Neles” or the “Company”) on 1 September
2020, and as result is no longer among the ten largest shareholders of the
Company. Consequently, Risto Murto, a member of the Shareholders’ Nomination
Board of Neles, has today resigned from the Shareholders’ Nomination Board.

Pursuant to the Charter of the Shareholders’ Nomination Board, a member
nominated by a shareholder is obliged to resign from the Shareholders’
Nomination Board if the shareholder concerned transfers more than half of the
shares it held on 1 September which entitled it to nominate a representative and
as a result is no longer among the Company’s ten largest shareholders.

Members of the Shareholders’ Nomination Board after the resignation of Mr. Murto
are:

  · Pasi Laine, Valmet Oyj
  · Philip Ahlgren, Vice President, Cevian Capital AB.
  · Mikko Mursula, Chief Investment Officer, Ilmarinen Mutual Pension Insurance
Company
  · Jukka Moisio, Chair of Neles’ Board of Directors

Mikko Mursula chairs the Shareholders’ Nomination Board.

More detailed information on the Shareholders’ Nomination Board is available on
Neles’
website (https://eur01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fpublis
h.ne.cision.com%2Fl%2Feotfrbufe%2Fwww.neles.com%2Finvestors%2Fgovernance%2Fnomina
tion
-board&data=04%7C01%7Ckaisa.voutilainen%40neles.com%7C0fcbaac49f9e4e6e401f08d8776
fb4ed%7C5fb877ea4fc145a1923381b6ece1b630%7C0%7C0%7C637390668943197630%7CUnknown%7
CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7
C1000&sdata=pYyjk1bRMMeKWsTDOuCnX7Tlaw0xDhoXQV3%2Fg27oRBM%3D&reserved=0).

NELES CORPORATION

For further information, please contact:

Elisa Erkkilä, General Counsel, Neles Corporation, tel. +358 40 75 444 11

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 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 around 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 (https://eur01.safelinks.protection.outlook.com/?url=http%3A%2F%2Fw
ww.neles.com%2F&data=04%7C01%7Ckaisa.voutilainen%40neles.com%7C0fcbaac49f9e4e6e40
1f08d8776fb4ed%7C5fb877ea4fc145a1923381b6ece1b630%7C0%7C0%7C637390668943207587%7C
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6Mn0%3D%7C1000&sdata=5Xlo3c6OiNol9WFOYb8EUA32%2FBcq8zPF8l4utj8Uerc%3D&reserved=0)
, Twitter.com/nelesflow (https://eur01.safelinks.protection.outlook.com/?url=http
%3A%2F%2Fpublish.ne.cision.com%2Fl%2Feotfrbufe%2Fwww.twitter.com%2Fnelesflow&data
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d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata
=mshzjFzNB6F0YDByJ%2F7zRl%2BpPYp972ffkUPoTPt068M%3D&reserved=0)