Purmo redeems its green capital securities issued in 2023

Purmo Group Plc (the "Company") announces that it will exercise its right to redeem its EUR 60 million green capital securities issued on 23 February 2023 (ISIN: FI4000548896) (the "Capital Securities").

The Capital Securities will be redeemed in full on 14 February 2025 (the "Redemption Date") in accordance with clause 8.8 (Change of Control) of the terms and conditions of the Capital Securities. The change of control entitling the Company to redeem the Capital Securities relates to the completion of Project Grand Bidco (UK) Limited’s voluntary public cash tender offer, recommended by the Board of Directors of the Company, to acquire all the issued and outstanding shares in the Company that are not held by the Company or any of its subsidiaries (the "Tender Offer"). Project Grand Bidco (UK) Limited is a special purpose vehicle incorporated and existing under the laws of England and Wales that is indirectly owned by a consortium formed for purposes of the Tender Offer of (i) certain affiliated funds of Apollo Global Management, Inc. and its subsidiaries and (ii) Rettig Ltd. The final result of the Tender Offer was announced on 2 August 2024. The change of control occurred on 16 August 2024, when the settlement of the completion trades relating to the Tender Offer took place and the total number of the Company shares and votes held directly by Project Grand Bidco (UK) Limited and indirectly by Apollo Global Management, Inc. increased over 50 per cent of all registered shares in the Company.

On the Redemption Date, the Company will pay the holders of Capital Securities a redemption price equal to their nominal amount together with any accrued interest to the Redemption Date.

In accordance with the terms and conditions of the Capital Securities, this notice of redemption is made within 60 days of the change of control in the Company, is irrevocable and is given to the calculation agent and holders of the Capital Securities.

Further information:
Katariina Kataja
Head of Investor Relations
Tel. +358 40 527 1427
katariina.kataja@purmogroup.com

Distribution:
Nasdaq Helsinki Ltd
Principal media
investors.purmogroup.com

About Purmo Group:
Purmo Group is at the centre of the global sustainability journey by offering full solutions and sustainable ways of heating and cooling homes to mitigate global warming. We provide complete heating and cooling solutions to residential and non-residential buildings, including underfloor heating and cooling systems, a broad range of radiators, heat pumps, flow control and hydronic distribution systems, as well as smart products. Our mission is to be the global leader in sustainable indoor climate comfort solutions. Our approximately 2,950 employees operate in 23 countries, manufacturing and distributing top-quality products and solutions to our over 100,000 customers in more than 100 countries. Purmo Group’s shares are listed on Nasdaq Helsinki with the ticker symbol PURMO. More information: www.purmogroup.com.