Puuilo Plc: Announcement of a change in shareholding according to Chapter 9, Section 10 of the Finnish Securities Market Act

Stock Exchange Release 15 February 2023, at 9.45 a.m.

Puuilo Plc (the "Company") has today received a notification in accordance with the Chapter 9, Section 10 of the Finnish Securities Market Act from Adelis Holding I AB ("Adelis"), according to which Puuilo Invest Holding AB, a company ultimately owned by Adelis, has sold a total number of 5,000,000 Company's shares in an accelerated book-building process (the "Share Sale"). In connection with the Share Sale, Adelis's indirect holding of the shares and votes of the Company has decreased below 20 percent. As a result of the Share Sale, Adelis's indirect holding in the Company totals to 15,818,242 shares and votes (amounting to 18.66 percent of all the shares and votes in the Company).

Total positions of Adelis according to notification:

	% of shares and voting rights (total of A)	% of shares and voting rights through financial instruments (total of B)	Total of both in % (A + B)	Total number of shares and voting rights of issuer
Resulting situation on the date on which threshold was crossed or reached	18.66%	0	18.66%	84,776,953
Position of previous notification (if applicable)	24.56%	0	24.56%

Notified details of the resulting situation on the date on which the threshold was crossed or reached:

A: Shares and voting rights

Class/type of shares	Number of shares and voting rights		% of shares and voting rights
ISIN code (if possible)	Direct (SMA 9:5)	Indirect (SMA 9:6 and 9:7)	Direct (SMA 9:5)	Indirect (SMA 9:6 and 9:7)
FI4000507124	N/A	15,818,242	N/A	18.66%
SUBTOTAL A	15,818,242		18.66%

Information in relation to the person subject to the notification obligation:

Full chain of controlled undertakings through which the shares, voting rights or financial instruments are effectively held (starting with the ultimate controlling natural person or legal entity):
Name	% of shares and voting rights	% of shares and voting rights through financial instruments	Total of both
Adelis Holding I AB	0	0	0
Adelis Equity Partners Fund I AB	0	0	0
Puuilo Invest Holding AB	18.66%	0	18.66%

For further information, please contact:  

Juha Saarela, CEO, mobile phone: +358 50 409 7641
Ville Ranta, CFO, mobile phone: +358 40 555 4995