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KONE has decided to withdraw from discussions with thyssenkrupp to acquire their Elevator Technology business

Stock Exchange Release Publié 17.02.2020

KONE Corporation, Inside information, February 17, 2020 at 4.25 p.m. EET

KONE has decided to withdraw from discussions with thyssenkrupp to acquire their Elevator Technology business

KONE has decided to withdraw from discussions with thyssenkrupp to acquire their Elevator Technology business.

KONE continues to believe that a combination of its business with thyssenkrupp Elevator Technology business would have been strategically compelling. However, any acquisition KONE would pursue would need to come with terms and conditions that are in the best interest of its shareholders, employees and customers.

KONE's focus continues to be on executing its Winning with Customers strategy.

Further information for investors:
Sanna Kaje, Vice President, Investor Relations, tel. +358 204 75 4705

Further information for media:
Hanna Rutanen, Communications Director, External Communications, tel. +358 41 507 1361

Sender:

KONE Corporation

Henrik Ehrnrooth
President and CEO

Ilkka Hara
CFO

About KONE

At KONE, our mission is to improve the flow of urban life. As a global leader in the elevator and escalator industry, KONE provides elevators, escalators and automatic building doors, as well as solutions for maintenance and modernization to add value to buildings throughout their life cycle. Through more effective People Flow®, we make people's journeys safe, convenient and reliable, in taller, smarter buildings. In 2019, KONE had annual sales of EUR 10 billion, and at the end of the year approximately 60,000 employees. KONE class B shares are listed on the Nasdaq Helsinki Ltd. in Finland.

www.kone.com

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