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KONE Corporation’s long-term incentive plan: transfer of shares and change in holding of treasury shares

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KONE Corporation, stock exchange release, January 31, 2024, at 4.00 pm EET

KONE Corporation’s long-term incentive plan: transfer of shares and change in holding of treasury shares

The Board of Directors of KONE Corporation has on 25 January 2024 decided, based on the authorization given by the company’s annual general meeting in 2023, on a directed share issue without consideration to pay the share reward under the company’s performance based long-term incentive plan 2021­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­–2023 and the Restricted Share Plan 2021.

In the share issue on 31 January 2024, KONE Corporation has assigned a total of 220,637 KONE class B shares held by the company to 421 key employees of the Group’s performance based long-term incentive plan’s performance period 2021-2023 and a total of 8,613 KONE class B shares held by the company to 15 key employees of the Group’s Restricted Share Plan 2021, which both were announced on 28 January 2021. A total of 51,652 KONE class B shares held by the company was paid to the former President and CEO of KONE of the Group’s performance based long-term incentive plan’s performance periods 2022-2024 and 2023-2025. The shares assigned constitute the share portion of the reward payments.

The shares were transferred on 31 January 2024. After the transfer, KONE Corporation holds 11,878,257 of its own class B shares.

For further information, please contact:

Sanna Kaje, Vice President, Investor Relations, KONE Corporation, tel. +358 204 75 0031

Sender:

KONE Corporation

Johannes Frände
General Counsel, Secretary to the Board

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 2023, KONE had annual sales of EUR 11.0 billion, and at the end of the year over 60,000 employees. KONE class B shares are listed on the Nasdaq Helsinki Ltd. in Finland.

www.kone.com

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