Huhtamäki Oyj - Tender Offer (FI) - Launch

Huhtamäki Oyj considers issuance of new notes and announces tender offer for its outstanding notes maturing in October 2024 - FI4000282801

13 NOVEMBER 2023

Full announcement including disclaimers and offer restrictions available via Huhtamaki Oyj

"Huhtamäki Oyj ("Huhtamaki") announces its intention to issue new senior unsecured notes (the "New Notes"). At the same time, Huhtamaki also invites today the holders of the EUR 150,000,000 1.625 per cent senior unsecured notes with the maturity date of October 4, 2024 (ISIN code FI4000282801) issued by Huhtamaki on October 4, 2017 (the "Notes") to tender their Notes for cash on the terms and conditions set out in the tender offer memorandum dated 13 November, 2023 (the "Tender Offer Memorandum") (the "Tender Offer").

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Pursuant to the Tender Offer, Huhtamaki proposes to accept for purchase an aggregate principal amount of Notes validly tendered in the Tender Offer of up to EUR 50 million. Huhtamaki however reserves the right, in its sole discretion, to decide on the acceptance for purchase of the Notes, including not to accept any purchase of the Notes. Whether Huhtamaki will accept for purchase any Notes validly tendered in the Tender Offer is subject, without limitation, to the completion of the issue of the New Notes (the "New Issue Condition"). Subject to the satisfaction or waiver of the New Issue Condition, if Huhtamaki decides to accept for purchase valid tenders of Notes pursuant to the Tender Offer and the aggregate principal amount of Notes validly tendered pursuant to the Tender Offer is greater than the amount subject to the Tender Offer, Huhtamaki intends to accept such Notes for purchase on a pro rata basis.

The purchase price of the Notes is EUR 979.5 per EUR 1,000.00 in nominal amount of the Notes. In addition, accrued and unpaid interest will be paid in respect of all Notes validly tendered and delivered and accepted for purchase."

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