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

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
• Niko Pakalén, Partner, 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.

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, Twitter.com/nelesflow