YIT

YIT launches a new Green Finance Framework

YIT has established a new Green Finance Framework to support investments that contribute to the company's sustainability goals. YIT has previously set science-based targets to reduce emissions, in addition to which YIT aims to be carbon neutral in its own operations (scope 1 and 2) by 2030. The Green Finance Framework will further integrate the company's ambitious sustainability goals into its financing. The first Green Finance Framework was established by YIT already in 2021.

With the help of the Green Finance Framework, YIT can issue green bonds and raise capital through other green financing instruments to finance environmentally friendly projects. The proceeds from the issuances of green debt will be used to finance eligible assets and projects which are divided into four green project categories, each of which helps both the company and YIT's customers progress in the green transition. The green project categories are green buildings, clean transportation, energy efficiency and sustainable water and wastewater management.

The allocation of proceeds and the environmental impact of the Green Projects financed will be reported on an annual basis until full allocation, and in the event of a significant change in allocation. 

The Green Finance Framework is available in English at www.yitgroup.com/debtinvestors together with a second party opinion from ISS-Corporate confirming the Green Finance Framework's alignment with the International Capital Market Association (ICMA) Green Bond Principles published in 2025 (including the updated appendix 1 of June 2022), the European Loan Market Association (LMA), the Asia Pacific Loan Market Association (APMLA) and the Loan Syndication Trading Association (LSTA) Green Loan Principles published in 2025.

Danske Bank A/S acted as an advisor in the preparation of the Green Finance Framework.

For further information:
YIT Corporate Communications, tel. +358 44 743 7536, press@yit.fi

Distribution: Nasdaq Helsinki, major media, www.yitgroup.com

YIT builds thriving living environments in Europe. For more than 110 years, we have made everyday life smoother by building homes for a good life, spaces where people and businesses can thrive, and infrastructure that supports the essential functions of society. We operate in seven countries and employ approximately 4,100 professionals. In 2025, our revenue was EUR 1.8 billion. YIT Corporation's shares are listed on Nasdaq Helsinki.

Read more: www.yitgroup.com and follow us on Linkedin I X I Instagram I Facebook

YIT has started the construction of a self-developed residential apartment building, Asunto Oy Tampereen Näsinsäde, in the Ranta-Tampella area of Tampere. The nine-storey apartment building, located approximately a ten-minute walk from Tampere city centre, will comprise 36 new YIT Homes. As part of the project, YIT will also construct a section of the block's shared parking facility located beneath the deck courtyard. The parking facility will include reservations for electric vehicle charging points. The value of the project is over EUR 17 million.

The apartments range in size from 30 to 82 square metres, offering homes from functional studios to spacious three-room apartments. Particular attention has been paid to functional layouts and practical storage solutions. Residents' everyday life is made easier by a variety of shared facilities, including a laundry room, drying room, residents' common space and a bicycle maintenance point.

Located close to Lake Näsijärvi and built on its own plot, Asunto Oy Tampereen Näsinsäde will be constructed in line with the A energy class requirements. The building will be equipped with a solar power system installed on the roof. The apartments will feature water-circulating underfloor heating as well as apartment-specific, centrally controlled efficient cooling.

"Ranta-Tampella offers a unique combination of lakeside living and vibrant urban life with services close at hand. The area also features a distinctive canal with pedestrian streets, and the majority of apartments have stunning canal and lake views. Every home has a spacious glazed balcony, accessed through a floor-to-ceiling sliding glass door. Large windows allow plenty of natural light to flood the apartments, making the homes bright and inviting," says Sami Viitanen, YIT's Regional Director in Pirkanmaa.

The YIT Homes in Asunto Oy Tampereen Näsinsäde are scheduled for completion in December 2026. YIT has been building residential apartment buildings in the Ranta-Tampella area since 2016.

Read more:
Tampereen Näsinsäde - apartments for sale | YIT.fi 

Further information:
YIT Group Communications, tel. +358 44 743 7536, press@yit.fi

YIT builds thriving living environments in Europe. For more than 110 years, we have made everyday life smoother by building homes for a good life, spaces where people and businesses can thrive, and infrastructure that supports the essential functions of society. We operate in seven countries and employ approximately 4,100 professionals. In 2025, our revenue was EUR 1.8 billion. YIT Corporation's shares are listed on Nasdaq Helsinki.

Read more: www.yitgroup.com and follow us on Linkedin I X I Instagram I Facebook

The Finnish Transport Infrastructure Agency has selected YIT to carry out Area Contract 4 of the Espoo Urban Railway project, covering the section between Espoo Center and Kauklahti. The contract was signed on March 5, 2026, with a total value of approximately EUR 73 million. The project will be recorded in YIT's order book for the first quarter of 2026. Preparatory works will begin in March, and the project is expected to be completed in 2029. 

YIT has been involved in the construction of the project from the very beginning and currently serves as the main contractor for the excavation works as well as one of the two main contractors for Area Contract 2. 

"Espoo Urban Railway is one of the most significant infrastructure projects in the Helsinki metropolitan area. Our strategic investments in the development of rail construction strengthen YIT's ability to deliver comprehensive rail infrastructure solutions for even the most demanding projects. We are proud to take part in building this important connection for the future," said Aleksi Laine, EVP of YIT's Infra segment. 

"This is an exceptionally demanding rail project, both in terms of scope and workload. We are very pleased to now move forward with construction. For the first time, we will be able to fully utilize this year's rail traffic closures across the entire project area," said Project Manager Tommi Rosenvall from the Finnish Transport Infrastructure Agency. 

The most visible changes in the contract area will take place around Kauklahti station, where a new underpass will be built beneath the tracks. A new southern side platform will be constructed, and the existing island platform will be widened. The new pair of tracks will be built south of the current tracks, with parts of the work overlapping with the Kaupunginkallio excavation. 

Other key structures include a new railway bridge over the Espoonjoki River, new Vadetinportti underpasses beneath the railway, and the widening of the Vantinportti underpass bridge. Between Espoonjoki and Kauklahti station, nearly one kilometer of slab track will be built, protected by retaining walls while train traffic continues. 

Initial construction activities include building access roads, ground stabilization, retaining wall works, and material transports at the eastern end of the contract area. 

Once completed, the Espoo Urban Railway will enable more frequent commuter rail service between Leppävaara and Kauklahti, improve punctuality along the coastal line, and reduce service disruption 

For further information:

YIT Corporate Communications, tel. +358 44 743 7536, press@yit.fi

Distribution: Nasdaq Helsinki, major media, www.yitgroup.com  

YIT builds thriving living environments in Europe. For more than 110 years, we have made everyday life smoother by building homes for a good life, spaces where people and businesses can thrive, and infrastructure that supports the essential functions of society. We operate in seven countries and employ approximately 4,100 professionals. In 2025, our revenue was EUR 1.8 billion. YIT Corporation's shares are listed on Nasdaq Helsinki. 

Read more: www.yitgroup.com and follow us on Linkedin I X I Instagram I Facebook

YIT adopts percentage of completion revenue recognition method in segment reporting and publishes comparison financial information for 2025, basis for presenting the guidance changes

YIT has completed the plans related to the previously announced change in the operating model and, as part of the new operating model, will adopt percentage of completion revenue recognition method for self-developed projects in its internal management and reporting. The change will be reflected also in the external segment reporting, improving transparency of financial reporting and providing the capital market with a better and more consistent view of the businesses' financial performance. The change has no impact on the IFRS accounting policy.

Adopting the percentage of completion revenue recognition method impacts the timing of the revenue recognition in segment reporting. Therefore, it has no impact on YIT's financial targets set for the strategy period 2025-2029 or the adjusted operating profit guidance given for year 2026. Going forward, YIT publishes adjusted operating profit only in accordance with the segment reporting, which will serve as basis for the guidance for 2026.

Starting from the first quarter of 2026, YIT will report all operations using the percentage of completion revenue recognition method in segment reporting. Revenue from sales of self-developed projects will be reported using the percentage of completion method in segment reporting, in contrast to the previously used method where revenue was recognized upon the project completion, when control is transferred to the customer. The new revenue recognition method provides more timely and predictable information, as it reflects the progress of the projects based on both the degree of completion and the sales rate already during the project. The impact is primarily reflected in the residential segments' revenue recognition.

Going forward, YIT will present financial information both according to the IFRS accounting standards and according to segment reporting using the percentage of completion revenue recognition method for self-developed projects. Reconciliations between the two reporting methods will also be provided. The key performance indicators for segment reporting are updated to reflect the new method.

YIT publishes comparison financial information for 2025 to reflect the announced change of the revenue recognition method in segment reporting including also the change in the definition of operating profit adjusting items, announced on February 6, 2026. The new comparison financial information for 2025 is presented in the table attached to this release. The information is unaudited.

For further information:
Essi Nikitin, Vice President, Investor Relations, YIT Corporation, tel. +358 50 581 1455, essi.nikitin@yit.fi

YIT Corporation

Markus Pietikäinen
CFO, interim

Distribution: Nasdaq Helsinki, major media, www.yitgroup.com

YIT builds thriving living environments in Europe. For more than 110 years, we have made everyday life smoother by building homes for a good life, spaces where people and businesses can thrive, and infrastructure that supports the essential functions of society. We operate in seven countries and employ approximately 4,100 professionals. In 2025, our revenue was EUR 1.8 billion. YIT Corporation's shares are listed on Nasdaq Helsinki.

Read more: www.yitgroup.com and follow us on Linkedin I X I Instagram I Facebook

YIT redeems its outstanding green capital securities on the reset date March 31, 2026

YIT Corporation ("YIT") will exercise its right to redeem its originally EUR 100 million green capital securities issued on March 31, 2021 (ISIN: FI4000496310) (the "Capital Securities").

The outstanding EUR 46 million Capital Securities will be redeemed in whole on March 31, 2026 (the "Reset Date") in accordance with the terms and conditions of the Capital Securities. Holders of the Capital Securities will receive a redemption price equal to the principal amount of the note together with any accrued interest to, but excluding, the Reset Date.

This notice of redemption is irrevocable and is given to the calculation agent and holders of the Capital Securities in accordance with the terms and conditions of the Capital Securities.

Further information:
Markus Pietikäinen, CFO, interim, YIT Corporation, tel. +358 40 525 3024, markus.pietikainen@yit.fi

YIT Corporation

Markus Pietikäinen
CFO, interim

Distribution: Nasdaq Helsinki, major media, www.yitgroup.com

YIT builds thriving living environments in Europe. For more than 110 years, we have made everyday life smoother by building homes for a good life, spaces where people and businesses can thrive, and infrastructure that supports the essential functions of society. We operate in seven countries and employ approximately 4,100 professionals. In 2025, our revenue was EUR 1.8 billion. YIT Corporation's shares are listed on Nasdaq Helsinki.

Read more: www.yitgroup.com and follow us on Linkedin I X I Instagram I Facebook

Notice convening YIT Corporation's Annual General Meeting

The shareholders of YIT Corporation are invited to attend the Annual General Meeting to be held on Thursday, March 19, 2026, starting at 11:00 a.m. Finnish time (GMT+2) at Finlandia Hall, Helsinki Hall at the address Mannerheimintie 13e, 00100 Helsinki, Finland (entrance M3, from Mannerheimintie door).

Check-in for those who have registered for the meeting, the distribution of voting tickets and coffee service will start at the meeting venue at 10:00 a.m. Finnish time. Heikki Vuorenmaa, President and CEO of YIT Corporation, will be available to meet with meeting participants at the Investor Relations desk located in the Helsinki Hall lobby before the start of the General Meeting from 10:00 to 10:30 a.m. Questions may be presented to the President and CEO at this event, but the event held prior to the General Meeting is not part of the General Meeting.

Shareholders may also exercise their voting rights by voting in advance. Further information on advance voting is presented in section C. 2. of this notice.

Shareholders may follow the Annual General Meeting via a video stream in Finnish. It is not possible to pose questions, make counterproposals, speak, or vote through the online video stream. Following the meeting via the video stream shall not be regarded as participation in the General Meeting in accordance with the Limited Liability Companies Act or as exercising shareholders' rights. Instructions on how to register for the video stream www.yitgroup.com/agm2026.

A. Matters to be considered at the Annual General Meeting

Information and proposals concerning formal organizational matters in agenda items 1 to 5 are included in a separate organizational document published on the Company's website at www.yitgroup.com/agm2026, which document also constitutes a part of this notice. The document will be supplemented as needed at the General Meeting with such information that is not available before the Annual General Meeting.

At the General Meeting, the following matters will be considered: 

1. Opening of the meeting

2. Calling the meeting to order

3. Election of the persons to scrutinize the minutes and to supervise the counting of votes

4. Recording the legality of the meeting

5. Recording the attendance and adoption of the list of votes

6. Presentation of the financial statements, the report of the Board of Directors, the consolidated financial statements, the auditor's report and the assurance report on the sustainability statement for the year 2025

The President and CEO reviews the financial year 2025 and presents the outlook for 2026.

YIT Corporation's Annual Review, which includes the parent company's financial statements, the report of the Board of Directors (including the sustainability statement), the consolidated financial statements, the auditor's report and the assurance report on the sustainability statement, will be available on the Company's website at www.yitgroup.com/ as of February 25, 2026.

7. Adoption of the financial statements and the consolidated financial statements

8. Resolution on the use of profit shown on the balance sheet and the distribution of dividend

The Board of Directors proposes that no dividend be paid based on the balance sheet to be adopted for the financial year 2025.

9. Resolution on the discharge of the members of the Board of Directors and the President and CEO from liability

10. Presentation of the remuneration report for governing bodies

The remuneration report for the Company's governing bodies will be available on the Company's website at www.yitgroup.com/ as of February 25, 2026.

11. Resolution on the remuneration of the Chairperson, Vice Chairperson and members of the Board   of Directors and the remuneration of the Shareholders' Nomination Board

The Shareholders' Nomination Board proposes that the remuneration payable to the members of the Board of Directors remains unchanged and that the following fixed annual remuneration be paid to the members of the Board of Directors for the term of office ending at the conclusion of the next Annual General Meeting:

• Chairperson of the Board: EUR 105,000;
• Vice Chairperson of the Board and Chairpersons of permanent committees: EUR 73,500, unless the same person is Chairperson or Vice Chairperson of the Board; and
• members: EUR 52,500.

In addition, the Nomination Board proposes that, based on the resolution of the Annual General Meeting, 40% of the fixed annual fee shall be paid in YIT Corporation's shares to be purchased on the Board members' behalf at a price determined in public trading at the Helsinki Stock Exchange (Nasdaq Helsinki Ltd). The shares will be purchased within two weeks of the publication of the interim report for the period January 1-March 31, 2026 or on the first possible date under applicable law. The Company will pay any costs related to the purchase of shares.

The Nomination Board recommends that members of the Board of Directors do not divest the shares awarded to them as a fixed annual fee until their term on the Board has expired. The Nomination Board views that long-term oriented and increasing share ownership by the members of the Board of Directors benefits all shareholders.

The Nomination Board further proposes that the members of the Board and its permanent and temporarily appointed committees be paid a meeting fee of EUR 800 per meeting, also for meetings of the Board and its committees held via electronic remote connections or by telephone.

It is proposed that the Chairperson of the Board and the Chairpersons of the permanent and temporarily appointed committees be paid a meeting fee of EUR 1,600 per meeting. Per diems are proposed to be paid for trips in Finland and abroad in accordance with the group's travel guidelines and the Tax Administration's travelling compensation regulations.

In addition, the Nomination Board proposes that the remuneration payable to the members of the Shareholders' Nomination Board remains unchanged and that the members of the Shareholders' Nomination Board, including the expert member, be paid a meeting fee of EUR 800 per Board meeting and the Chairperson of the Shareholders' Nomination Board be paid EUR 1,600 per Board meeting.

12. Resolution on the number of members of the Board of Directors

The Shareholders' Nomination Board proposes that a Chairperson, a Vice Chairperson and four (4) ordinary members be elected to the Company's Board of Directors.

13. Election of the Chairperson, Vice Chairperson and members of the Board of Directors

The Shareholders' Nomination Board proposes that the following persons be re-elected as members of the Board of Directors of the Company for a term of office ending at the conclusion of the next Annual General Meeting following their election: Jyri Luomakoski as Chairperson, Casimir Lindholm as Vice Chairperson, and Anders Dahlblom, Sami Laine, Kerttu Tuomas and Leena Vainiomäki as members.

With respect to the election procedure of the members of the Board of Directors, the Nomination Board recommends that the shareholders take a position on the proposal as a whole. In preparing its proposals, the Nomination Board, in addition to ensuring that the individual nominees for membership of the Board of Directors possess the required competences, has determined that the proposed Board of Directors as a whole also has the best possible expertise for the Company and that the composition of the Board of Directors meets all other requirements of the law and the Finnish Corporate Governance Code for listed companies.

All candidates have consented to being elected and are independent of the Company and of its significant shareholders with the exception of Anders Dahlblom, who is dependent on a significant shareholder of the Company. Essential information regarding the proposed members, including the CVs and assessments of independence, is available on the Company's website at www.yitgroup.com/agm2026.

14. Resolution on the remuneration of the auditor and the sustainability auditor

The Board of Directors proposes on recommendation of the Audit Committee that the auditor's and the sustainability auditor's fees will be paid according to the invoice approved by the Company.

15. Election of the auditor and the sustainability auditor

The Board of Directors proposes on recommendation of the Audit Committee that Ernst & Young Oy, Authorized Public Accountants, be re-elected as the Company's auditor for a term of office ending at the conclusion of the next Annual General Meeting following their election, with Mikko Rytilahti, APA, serving as the chief auditor.

In addition, the Board of Directors proposes on recommendation of the Audit Committee that Ernst & Young Oy, Authorized Sustainability Audit Firm, be re-elected as the Company's sustainability auditor for a term of office ending at the conclusion of the next Annual General Meeting following their election, with Mikko Rytilahti, ASA, serving as the chief sustainability auditor.

16. Authorization of the Board of Directors to resolve on the repurchase of own shares

The Board of Directors proposes that the Annual General Meeting authorize the Board of Directors to resolve on the repurchase of the Company's own shares using the Company's unrestricted equity under the following terms and conditions:

A maximum of 23,000,000 Company shares in total may be purchased, corresponding to approximately 10% of all Company shares. However, the number of shares held by the Company may not represent more than 10% of all shares in the Company. This number includes all the treasury shares held by the Company and its subsidiaries in the manner provided for in chapter 15, section 11(1) of the Limited Liability Companies Act.

The Board of Directors is authorized to resolve how Company shares are purchased. Company shares may be purchased at a price determined by public trading on the day of purchase or at a price otherwise determined at the market. Shares may be purchased in a proportion other than that of the shares held by the shareholders.

The authorization revokes the authorization to repurchase the Company's own shares issued by the Annual General Meeting on April 3, 2025. The authorization is valid until the close of the next Annual General Meeting, however, no longer than until June 30, 2027.

17. Authorization of the Board of Directors to resolve on share issues

The Board of Directors proposes that the Annual General Meeting authorize the Board of Directors to resolve on share issues under the following terms and conditions:

The authorization may be used in full or in part by issuing shares in the Company in one or more tranches so that the maximum number of shares issued is a total of 23,000,000, corresponding to approximately 10% of all Company shares.

The Board of Directors is authorized to resolve on all terms and conditions of the share issue. The Board of Directors may also resolve on a directed share issue in deviation from the shareholders' pre-emptive subscription rights. Shares can be issued for subscription with or without consideration.

Based on the authorization, the Board of Directors may also resolve on a share issue without consideration to the Company itself so that the number of own shares held by the Company after the share issue represents a maximum of 10% of all shares in the Company. This number includes all the treasury shares held by the Company and its subsidiaries in the manner provided for in chapter 15, section 11(1) of the Limited Liability Companies Act.

The authorization revokes the authorization to resolve on share issues issued by the Annual General Meeting on April 3, 2025. The authorization is valid until the close of the next Annual General Meeting, however, no longer than until June 30, 2027.

18. Closing of the meeting

B. Documents of the General Meeting

The above resolution proposals on the matters on the agenda of the Annual General Meeting and this notice convening the meeting are available on YIT Corporation's website at www.yitgroup.com/agm2026. YIT Corporation's Annual Review, which includes the parent company's financial statements, the report of the Board of Directors (including the sustainability statement), consolidated financial statements, the auditor's report the and the assurance report on the sustainability statement, as well as the remuneration report for YIT Corporation's governing bodies and the organizational document will be available on said website as of February 25, 2026. The resolution proposals, the financial statement documents and the other documents referred to above will also be available for viewing at the Annual General Meeting.

The minutes of the Annual General Meeting will be available on said website on April 2, 2026, at the latest.

C. Instructions for those participating in the General Meeting

1. Shareholders registered in the shareholders' register

A shareholder who is registered in the Company's shareholders' register, which is maintained by Euroclear Finland Oy, on the record date of the General Meeting, March 9, 2026, has the right to participate in the General Meeting. A shareholder whose shares are registered in the shareholder's personal Finnish book-entry account has been registered in the shareholders' register of the Company.

Changes in shareholding after the record date of the General Meeting shall not affect the right to attend the meeting or the voting rights of the shareholder.

The registration for the Annual General Meeting begins on February 25, 2026 at 2:00 p.m. Finnish time. A shareholder whose shares are registered in the shareholder's personal Finnish book-entry account and who wishes to participate in the Annual General Meeting shall register for the Annual General Meeting no later than by March 16, 2026 at 10:00 a.m. Finnish time, by which time the registration must be received. Registration for the Annual General Meeting can be made:

a) Online through YIT Corporation's website at www.yitgroup.com/agm2026. Shareholders who are natural persons must sign into the online registration service using strong electronic authentication with a Finnish bank ID or a Finnish mobile certificate. Shareholders who are legal persons are required to sign in using their book-entry account number and their business ID or identification code. Alternatively, shareholders who are legal persons can authorize a proxy representative via the Suomi.fi service at www.suomi.fi/e-authorizations using the authorization for `Representation at the General Meeting'. The proxy representative authorized via the Suomi.fi service must sign into the online registration service using strong electronic identification with a Finnish bank ID or a Finnish mobile certificate.

b) By email to Innovatics Oy at agm@innovatics.fi. The registering shareholder must include in the message the registration form available on the Company's website and the possible advance voting form or corresponding information.

c) By phone through Innovatics Oy at number 010 2818 909 on weekdays between 9:00 a.m. and 12:00 noon and between 1:00 p.m. and 4:00 p.m. Finnish time. Advance voting is not possible in connection with registering by phone.

The requested information, such as the shareholder's name, date of birth or business ID, address, telephone number and email address, the name of a proxy representative and/or assistant, if any, as well as the proxy representative's date of birth, telephone number and email address, must be provided in connection with the registration.

The personal data disclosed by the shareholders to YIT Corporation or Innovatics Oy will only be used in connection with the Annual General Meeting and the processing of related necessary registrations. Further information on the processing of personal data is available on the Company's website at www.yitgroup.com/agm2026.

A shareholder, their representative or proxy representative shall, upon request, be able to prove their identity and/or right of representation at the meeting venue.

Further information on registration and advance voting is available by phone during the registration period for the Annual General Meeting from Innovatics Oy at telephone number 010 2818 909 on weekdays between 9:00 a.m. and 12:00noon and between 1:00 p.m. and 4:00 p.m. Finnish time.

2. Advance voting

Shareholders with a Finnish book-entry account can vote in advance on certain matters on the agenda of the General Meeting in the following ways:

a) Online through YIT Corporation's website at www.yitgroup.com/agm2026 in the service available between February 25, 2026 at 2:00 p.m. Finnish time to March 16, 2026 at 10:00 a.m. Finnish time. Shareholders can sign in to the advance voting service the same way as to the online registration service referred to above in section C. 1. a) of these instructions.

b) By email by delivering the advance voting form available on the Company's website or corresponding information to Innovatics Oy at agm@innovatics.fi. The advance votes must be received by the end of the advance voting period. Delivering the votes in this manner before the end of the registration and advance voting period shall be considered registration for the Annual General Meeting, provided that the above-mentioned information required for registration is included.

Resolution proposals that are subject to advance voting are considered to have been presented unchanged in the General Meeting, and the advance votes are taken into account in a possible vote held at the meeting venue also in circumstances where an alternative resolution proposal concerning the matter has been presented. Taking the votes into account requires that the shareholders who voted in advance are registered in the Company's shareholders' register maintained by Euroclear Finland Oy on the record date of the General Meeting. Shareholders voting in advance will not be able to use their rights under the Limited Liability Companies Act to request information or a vote, unless they are present at the General Meeting in person or by way of proxy representation.

The instructions for advance voting are available on the Company's website at www.yitgroup.com/agm2026.

Holders of nominee registered shares can vote in advance through their account operators. Account operators can vote in advance on behalf of the holders of nominee registered shares they represent in accordance with such shareholders' voting instructions during the registration period applicable to holders of nominee-registered shares set out in the below section C. 3. of these instructions.

3. Holder of nominee registered shares

A holder of nominee registered shares has the right to participate in the Annual General Meeting based on the shares that would entitle them to be registered in the shareholders' register maintained by Euroclear Finland Oy on the record date of the General Meeting, March 9, 2026. In addition, the right to participate requires that the holder of nominee registered shares is temporarily entered into the shareholders' register maintained by Euroclear Finland Oy based on such shares by March 16, 2026 at 10:00 a.m. Finnish time at the latest. As regards nominee registered shares, this is considered registration for the General Meeting. Changes in shareholding after the record date of the General Meeting shall not affect the right to attend the meeting or the voting rights of the shareholder.

Holders of nominee registered shares are advised to request in good time the necessary instructions regarding temporary registration in the shareholders' register of the Company, the issuing of proxy documents and voting instructions, registration for the General Meeting and advance voting from their custodian bank. The account operator of the custodian bank must register a holder of nominee registered shares who wishes to participate in the Annual General Meeting temporarily into the shareholders' register of the Company at the latest by the time stated above, and, if needed, take care of voting in advance on behalf of the holder of nominee registered shares within the registration period applicable to holders of nominee registered shares.

4. Proxy representative and powers of attorney

A shareholder may participate in the General Meeting and exercise their rights at the meeting through a proxy representative. A proxy representative of a shareholder may also vote in advance in the manner described in section C. 2. of these instructions. A proxy representative must identify themselves in the online registration service using strong electronic authentication, after which they can register and vote in advance on behalf of the shareholder they represent.

The proxy representative shall present a dated proxy document or otherwise in a reliable manner demonstrate their right to represent the shareholder at the General Meeting. If a shareholder participates in the General Meeting by means of several proxy representatives representing the shareholder with shares held in different securities accounts, the shares by which each proxy representative represents the shareholder shall be identified in connection with the registration for the Annual General Meeting.

A proxy template is available on the Company's website at www.yitgroup.com/agm2026.

Possible proxy documents should preferably be delivered as an attachment in connection with the online registration or alternatively by email to agm@innovatics.fi before the end of the registration period.

In addition to delivering a proxy document, the shareholder or their proxy representative must see to the registration to the General Meeting in the manner described above in section C. 1. of these instructions.

A shareholder who is a natural person may also choose to authorize a proxy representative in the online registration service referred to in section C. 1. a) of these instructions.

A shareholder who is a legal person may, as an alternative for a traditional proxy document, authorize a proxy representative by using the Suomi.fi e-authorization service. The proxy representative is authorized via the Suomi.fi service at www.suomi.fi/e-authorizations (authorization for `Representation at the General Meeting'). In the General Meeting registration service, the proxy representatives must identify themselves by using strong electronic identification, after which the e-authorization is verified automatically. Strong electronic identification requires a Finnish bank ID or a Finnish mobile certificate. For more information on e-authorization, please see www.suomi.fi/e-authorizations.

5. Other information

The meeting will be held in Finnish.

Pursuant to chapter 5, section 25 of the Limited Liability Companies Act, a shareholder who is present at the General Meeting has the right to request information with respect to the matters to be considered at the meeting.

On the date of this notice convening the Annual General Meeting, the total number of shares and votes in YIT Corporation is 232,059,853. On the date of this notice, the Company holds a total of 1,413,792 treasury shares. Pursuant to the Limited Liability Companies Act, shares held by the Company itself or by its subsidiaries do not carry a right to participate in the General Meeting.

Helsinki, February 25, 2026

YIT Corporation

Board of Directors

For further information:
Essi Nikitin, Vice President, Investor Relations, YIT Corporation, tel. +358 50 581 1455, essi.nikitin@yit.fi

YIT Corporation

Markus Pietikäinen
Interim CFO

Distribution: Nasdaq Helsinki, major media, www.yitgroup.com

YIT builds thriving living environments in Europe. For more than 110 years, we have made everyday life smoother by building homes for a good life, spaces where people and businesses can thrive, and infrastructure that supports the essential functions of society. We operate in seven countries and employ approximately 4,100 professionals. In 2025, our revenue was EUR 1.8 billion. YIT Corporation's shares are listed on Nasdaq Helsinki.

Read more: www.yitgroup.com and follow us on Linkedin I X I Instagram I Facebook

YIT's Annual Review for 2025 published

YIT's Annual Review for 2025 has been published today on the company's website at www.yitgroup.com/annualreports and as an attachment to this stock exchange release.

The Annual Review consists of the Report of the Board of Directors, Consolidated Financial Statements, Parent Company's Financial Statements and Auditor's Report. The Report of the Board of Directors contains the Sustainability Statement, which has been prepared based on the EU Corporate Sustainability Reporting Directive (CSRD) in accordance with the European Sustainability Reporting Standards (ESRS). The audit firm Ernst & Young Oy has provided a limited assurance report on the Sustainability Statement.

In addition, YIT has published the Report of the Board of Directors and the Financial Statements in accordance with the European Single Electronic Format (ESEF) reporting requirements in the format of Extensible Hypertext Markup Language (xHTML), which is available at www.yitgroup.com/annualreports and as attachment to this stock exchange release. The audit firm Ernst & Young Oy has provided an independent auditor's reasonable assurance report on the ESEF Financial Statements. The reasonable assurance engagement has been conducted in accordance with ISAE 3000.

The Corporate Governance Statement and the Remuneration Report have been published as separate PDF files at www.yitgroup.com/corporategovernance and as attachments to this stock exchange release.

All publications in PDF format are available in Finnish and English, but the xHTML file is published only in Finnish. 

For further information:
Essi Nikitin, Vice President, Investor Relations, YIT Corporation, tel. +358 50 581 1455, essi.nikitin@yit.fi

YIT Corporation

Markus Pietikäinen
Interim CFO

Distribution: Nasdaq Helsinki, major media, www.yitgroup.com

YIT builds thriving living environments in Europe. For more than 110 years, we have made everyday life smoother by building homes for a good life, spaces where people and businesses can thrive, and infrastructure that supports the essential functions of society. We operate in seven countries and employ approximately 4,100 professionals. In 2025, our revenue was EUR 1.8 billion. YIT Corporation's shares are listed on Nasdaq Helsinki.

Read more: www.yitgroup.com and follow us on Linkedin I X I Instagram I Facebook

YIT and Helsinki City Housing Company (Heka) have signed a comprehensive agreement on the renovation of a rental housing company located at Jokiniementie 5 in Veräjämäki, Helsinki. The total value of the contract for YIT is just under EUR 14 million, and it will be recorded in the order book for the first quarter of the year.

The renovation agreement encompasses two apartment buildings completed in 1964, with a total of 116 apartments, a garage building, and a waste canopy to be converted into a bicycle storage facility. The apartment buildings consist of four residential floors and a basement. As part of the renovation, accessibility, building technology and energy efficiency of the housing company will be improved by implementing geothermal heat alongside district heating and by adding heat recovery to exhaust ventilation. Facades and courtyards will also be renovated.

"After a comprehensive renovation, the quality level of the apartments will rise significantly, and they will provide a comfortable and safe home for Helsinki residents for decades to come," says Vesa Nevala, Housing Development Director at Heka.

"This project will continue our long-term collaboration with Heka. Renovation is a significant environmental measure. In connection with it, the housing company's energy solutions will be improved and the properties will be upgraded to be more energy efficient," says Jani Dementjeff, Vice President of the Renovation unit at YIT.

The construction works will be started at the end of April 2026, and the project will be completed in spring 2027.

Further information:
YIT Group Communications, tel. +358 44 743 7536, press@yit.fi

YIT creates attractive living environments in Europe. For more than 110 years, we have made everyday life easier by building homes for a good life, spaces where people and businesses can thrive, and infrastructure that ensures society works. We operate in seven countries and employ around 4,100 professionals. Our revenue in 2025 was EUR 1.8 billion. YIT Corporation's shares are listed on Nasdaq Helsinki.

Learn more: https://www.yitgroup.com/en and follow us on LinkedIn I X I Instagram I Facebook

The Ministry of the Environment, and the Ministry of Economic Affairs and Employment of Finland, have approved YIT's Green Deal commitment for the circular economy, which aims to reduce the use of natural resources and promote a low-carbon circular economy by 2035. The commitment strengthens YIT's long-term work to promote the circular economy and accelerates concrete actions in the reuse of construction material streams.

As part of the commitment, YIT undertakes to develop solutions for replacing virgin soil and aggregates with surplus masses and recycled aggregates. In particular, predictability and collaboration between the parties and stakeholders will be increased. In addition, YIT undertakes to develop its operations to increase the share of other reusable and recycled materials, along with identifying materials suitable for reuse and recycling from its projects and seeking applications for them. The aim is to integrate the principles of circular economy to all YIT's operations.

"The Green Deal commitment gives a boost to our circular economy work. Now we focus on making a leap in our own operations and we want to use existing building materials more extensively than before, making the circular economy a reality at YIT," said Project Manager Sini Ruohoniemi, responsible for the Green Deal commitment for the circular economy at YIT.

In YIT's projects, different solution options are considered from the perspective of the circular economy, and in the future, a circular economy plan will be drawn up and monitored closely to ensure implementation. YIT has already implemented many circular economy solutions, of which here are a few examples:

• Gesterby School Center Wigge, Kirkkonummi: virgin soil and stone materials were replaced and concrete from the dismantled school was crushed and used on the plot for backfilling. This also significantly decreased the amount of energy and fuel needed for transporting the masses.
• Siilinlahti life cycle school, Siilinjärvi: concrete from the old school was utilized in the filling of the municipality's industrial area.
•  Aleksanterinkatu 13, Helsinki: the property's old copper roofing sheets, marble tiles, ceiling tiles, bricks and lamps were reused. In addition, used parquet flooring was brought from other sites, and tiles from a bankruptcy estate and the contractor's surplus stock were also utilized.
• Melkinlaituri life cycle school and daycare center, Helsinki: cavity slabs that have served for more than 40 years in another property were reused in first commercial projects in Finland.
• The circular economy brick was developed as a facade material for the Circular Economy Block in Jätkäsaari.
• YIT started the zoning of a block of about 1.5 hectares in Vallila, Helsinki. The project will serve as an important pilot for sustainable urban construction, circular economy solutions, and the utilization of material streams.

"With this Green Deal commitment, we want to strengthen not only our own operations, but also the entire industry. Circular economy solutions are created in collaboration with partners. We will put best practices from our previous projects into wider use, boldly try new things, learn as the project progresses, and share our successes and challenges openly," said Property Development Director Benjamin Kalliola from YIT's Urban Development team.

The Green Deal commitments are evaluated by an expert group, which includes the Finnish Environment Institute, VTT Technical Research Centre of Finland and the Natural Resources Institute Finland. The commitments are approved by the secretariat formed by the Ministry of the Environment and the Ministry of Employment and the Economy.

See also:
Circular economy in construction | YIT.fi
Circular Economy Green Deal - Ministry of the Environment

Further information:
YIT Group Communications, tel. +358 44 743 7536, press@yit

YIT builds thriving living environments in Europe. For more than 110 years, we have made everyday life smoother by building homes for a good life, spaces where people and businesses can thrive, and infrastructure that supports the essential functions of society. We operate in seven countries and employ approximately 4,100 professionals. In 2025, our revenue was EUR 1.8 billion. YIT Corporation's shares are listed on Nasdaq Helsinki.

Learn more: www.yitgroup.com/en and follow us on Linkedin I X I Instagram I Facebook

The development of YIT's Circular Economy Pilot Block 697 in Vallila, Helsinki, is entering a new phase as the intact removal of reusable materials begins and a dedicated circular economy store opens. At the same time, YIT is launching an educational collaboration on circular economy with Stadin AO (the Helsinki Vocational College). 

During the development phase, as many interior materials as possible will be carefully removed from the block's empty buildings for reuse. These materials will be sold at the newly opened circular economy store located in the block of Vallila, as well as through the online store at www.store.spolia.fi. 

The store will be operated by YIT's partner Spolia Design Oy, a company specializing in second-hand building components. Spolia tests, refurbishes and documents the items on sale, and provides a two-year product warranty. 

"In this pilot, we are developing practical operating models and processes for reuse. However, the aim is not only to recycle and sell materials, but to build a broader circular economy ecosystem together with partners and industry actors. This ecosystem will promote circularity comprehensively and create value for everyone involved," says Benjamin Kalliola, Project Director at YIT. 

Educational collaboration to build future expertise 

The Vallila project will also serve as a learning environment for construction students, as YIT begins a collaboration with Stadin AO. The goal is to familiarize future construction professionals with hands-on circular economy practices under the guidance of YIT and Spolia experts. At the same time, the college will explore the development of a new study module on circular construction. 

"We are testing the structure and feasibility of the planned study modules in Vallila. The module, designed around work-based learning, could consist of various elements, including the principles of circularity and resource efficiency in construction, material flows and usability, tools and methods used in dismantling and reuse, as well as safe working practices with environmental considerations," says Pekka Natunen, construction teacher at Stadin AO. 

Guided by circular economy principles 

The Vallila pilot block is being developed in line with circular economy principles more comprehensively than in any previous urban-development project in Finland. The design makes extensive use of the existing building stock, includes partial new construction, significantly increases the block's green factor, and integrates the circulation of materials, stormwater and nutrients into the future block structure. 

The project supports YIT's long-term target to reduce the use of natural resources and promote low-carbon circular construction. 

The Vallila block is currently in the development phase, and the zoning proposal is planned to be made available for public viewing in spring 2026. 

Read more: 

Circular economy block - Vallila's new life | YIT.fi

For further information: 

YIT Corporate communications, tel. +358 44 743 7536, press@yit.fi

YIT builds thriving living environments in Europe. For more than 110 years, we have made everyday life smoother by building homes for a good life, spaces where people and businesses can thrive, and infrastructure that supports the essential functions of society. We operate in seven countries and employ approximately 4,100 professionals. In 2025, our revenue was EUR 1.8 billion. YIT Corporation's shares are listed on Nasdaq Helsinki. 

Read more: www.yitgroup.com and follow us on Linkedin I X I Instagram I Facebook

YIT plans to renew the operating model in the Residential Finland and Building Construction segments, with the aim to respond more effectively to changing customer demand. In addition, the company aims to streamline the organizational structure and enhance operational efficiency. The planned renewal of the operating model and efficiency measures may also impact Group functions.  

The company is considering moving in the Residential Finland and Building Construction segments from the current geographically operating regional organization to a function-based structure in which responsibilities and activities are clearly defined around core functions. With the new operating model, the company plans to align its cost structure with current market conditions. 

As a result of the planned changes, the company estimates to achieve annual, inflation-adjusted cost savings of approximately 15 million euros by the end of 2027, compared to 2025. 

YIT will initiate change negotiations in Finland. Any potential personnel reductions resulting from the negotiations may affect salaried employees, senior salaried employees, and directors in the Residential Finland and Building Construction segments, as well as in Group functions. Potential reduction needs related to these change negotiations do not concern salaried employees working in production jobs at construction sites nor site workers. The planned changes could, if implemented, lead to a reduction of up to approximately 115 positions in Finland. As the planning progresses, new roles and positions are also expected to be created. 

Segment reporting principles 

In relation to the planned operating model changes, YIT is assessing changes to the segment reporting accounting principles so that revenue recognition for sold self-developed residential projects would in future be based on the percentage of completion during construction period. The change would also impact the company's external reporting and clarify the timing of profit recognition. The change would have no impact on IFRS revenue recognition principles. 

For further information: 

YIT Corporate communications, tel. +358 44 743 7536, press@yit.fi

Distribution: NASDAQ Helsinki, major media, www.yitgroup.com

YIT builds thriving living environments in Europe. For more than 110 years, we have made everyday life smoother by building homes for a good life, spaces where people and businesses can thrive, and infrastructure that supports the essential functions of society. We operate in seven countries and employ approximately 4,100 professionals. In 2025, our revenue was EUR 1.8 billion. YIT Corporation's shares are listed on Nasdaq Helsinki. 

Read more: www.yitgroup.com and follow us on Linkedin I X I Instagram I Facebook

Implementation of YIT's strategy progressing, the company raises its growth targets for the Infrastructure and Building Construction segments for the strategy period 

YIT has been implementing the strategy published in November 2024 in a determined manner. During the 2025-2029 strategy period, the company's priorities are to deliver industry leading productivity and financial performance, generate targeted growth and resilience, and enhance both customer and employee experience. 

The market for industrial construction, and particularly data center construction, has developed strongly in Finland. Investments in industrial construction are expected to continue growing throughout the strategy period. YIT has systematically invested in the capabilities of both the Infrastructure and Building Construction segments, reinforcing its position as Finland's leading data center builder. 

Revenue in YIT's energy and industrial construction business has grown faster than anticipated. As a result, YIT is doubling the growth targets for the Infrastructure and Building Construction segments for the strategy period. 

• The new target for the Building Construction segment is to achieve annual growth of at least 4%, with the compound annual growth rate (CAGR) by the end of 2029, based on year 2024.  

• The new target for the Infrastructure segment is to achieve annual growth of at least 10%, with the compound annual growth rate (CAGR) by the end of 2029, based on year 2024.  

Previously, the Building Construction segment's target was a CAGR of at least 2%, and the Infrastructure segment's corresponding target was at least 5% for the 2025-2029 strategy period. The Group's financial targets for the strategy period remain unchanged. 

To further strengthen customer orientation, YIT is planning to reorganize its energy and industrial construction operations into a new Digital Infrastructure business and will continue recruiting experts in the field. 

Further information: 
YIT Group Communications, tel. +358 44 743 7536, press@yit.fi

Distribution: NASDAQ Helsinki, major media, www.yitgroup.com

YIT Corporation 

Heikki Vuorenmaa 
President and CEO 

YIT builds thriving living environments in Europe. For more than 110 years, we have made everyday life smoother by building homes for a good life, spaces where people and businesses can thrive, and infrastructure that supports the essential functions of society. We operate in seven countries and employ approximately 4,100 professionals. In 2025, our revenue was EUR 1.8 billion. YIT Corporation's shares are listed on Nasdaq Helsinki. 

Read more: www.yitgroup.com and follow us on Linkedin I X I Instagram I Facebook

YIT's Financial Statements Bulletin January-December 2025

Revenue and adjusted operating profit increased in Q4, net debt continued to decrease

Fourth quarter of 2025 in brief

• Order book amounted to EUR 2,915 million (30 Sep 2025: 2,929). At the end of the period, 76% of the order book was sold (30 Sep 2025: 75%).
• Revenue increased to EUR 557 million (521).
• Adjusted operating profit increased to EUR 25 million (13). Adjusted operating profit margin increased to 4.5% (2.6).
• Operating profit increased to EUR 23 million (-17).
• Operating cash flow after investments amounted to EUR 111 million (114), supported by a return of capital and profit distributions from Tripla Mall Ky amounting to EUR 51 million, enabled by the refinancing of Tripla as announced on December 5, 2025.
• Net interest-bearing debt decreased to EUR 560 million (680), and gearing improved to 71% (88) at the end of the period.
• In Residential Finland, adjusted operating profit amounted to EUR -8 million (-12). Consumer apartment sales decreased to 97 (174) apartments. Consumer apartment starts in the quarter decreased to 119 (160). The number of unsold completed apartments decreased 25% year-on-year to 524 (31 Dec 2024: 700; 30 Sep 2025: 455).
• In Residential CEE, adjusted operating profit increased to EUR 26 million (25). During the quarter, YIT sold 873 (653) apartments, of which 286 (300) to consumers and 587 (353) to investors. Consumer apartment starts decreased to 40 (62). The number of unsold completed apartments decreased 22% year-on-year to 220 (31 Dec 2024: 281; 30 Sep 2025: 194).
• In Building Construction, adjusted operating profit decreased to EUR 1 million (2).
• In Infrastructure, adjusted operating profit increased to EUR 7 million (6).
• Result for the period was EUR 3 million (-39).

January-December 2025 in brief

• Revenue decreased to EUR 1,757 million (1,820).
• Adjusted operating profit increased to EUR 54 million (32). The adjusted operating profit margin increased to 3.1% (1.7).
• Operating profit increased to EUR 45 million (-55). Comparison period's operating profit was impacted by the transformation program costs and operations to be closed down.
• Operating cash flow after investments decreased to EUR 65 million (110).
• In Residential Finland, adjusted operating profit amounted to EUR -8 million (-20). Consumer apartment sales decreased to 490 (589) apartments. Consumer apartment starts increased to 477 (160).
• In Residential CEE, adjusted operating profit decreased to EUR 30 million (37). During the year, YIT sold a total of 2,169 (1,644) apartments, of which 1,246 (986) to consumers and 923 (658) to investors. Consumer apartment starts increased to 1,555 (783).
• In Building Construction, adjusted operating profit increased to EUR 16 million (3). The comparison period included a EUR -10 million change in the fair value of segment's equity investments in the first quarter of 2024.
• In Infrastructure, adjusted operating profit increased to EUR 22 million (17).
• Result for the period was EUR -24 million (-112). Comparison period's result was impacted by the transformation program costs and operations to be closed down.
• YIT's Board of Directors has decided that it will not propose dividend to be distributed based on the balance sheet to be adopted for 2025.

Unless otherwise noted, the figures in brackets in this report refer to the corresponding period in the previous year.

Key figures

Comments from the President and CEO, Heikki Vuorenmaa

"Our final quarter of the year was as strong as we expected. Our revenue and profits improved from the comparison period, supported by the completions in the Residential CEE segment. In 2025, our adjusted operating profit increased by more than 70% to EUR 54 million, and net debt decreased by EUR 120 million. Simultaneously, we renewed our financing with improved terms.

In 2025, our apartment sales increased by more than 30% in the Baltic and CEE countries. These regions have become the principal market for our residential development and construction. Demand remained healthy, particularly in the Czech and Polish markets, where structural residential needs and urbanization trends continued to support activity. We continue to allocate further capital and focus on these markets to secure future projects to our pipeline, which currently represents capabilities to construct 15,000 new homes.

Apartment sales in Finland did not develop as expected, particularly in the second half of the year. This was partially driven by a geographical imbalance in our own inventory. However, the main driver was the prolonged weak market conditions. Overall, the Finnish primary residential market remained stagnant in 2025. Consumer uncertainty continued to slow demand, and investor activity remained muted.

Finnish residential market in 2026 remains highly consumer-driven as investors remain cautious about launching new projects. We continue to adapt our operations to prevailing market conditions and launch self-developed consumer apartment projects based on demand. Urbanization continues, and cities grow faster than in many years. This phenomenon will eventually lead to a shortage of residential units in Finland's major urban areas. Sales volumes in the primary residential market are not, however, expected to increase in 2026.

The Infrastructure segment demonstrated strong momentum throughout the year, with revenue increasing by more than 30%, and all key performance indicators developing positively. This reflects the successful execution of our strategic initiatives. The industry investment pipeline began to materialize in Finland in 2025, with numerous projects still in the feasibility study phase. The development of the digital infrastructure market in particular has progressed faster than anticipated.

In 2025, we made determined progress in the Building Construction segment, securing several contracts across both public and private sectors that reinforce our core competences and expertise. In December, we announced that we had received EUR 51 million from Tripla Mall Ky as return of capital and profit distributions, enabled by the successful refinancing of Tripla, supporting our strategic objectives. The release of capital from non-strategic items will remain among our top priorities.

One of our key strategic priorities is to deliver a step change in work safety, reinforcing our commitment to continuous improvement in this area. Despite our efforts, safety metrics have not developed at the pace we expect, and the number of accidents at our worksites remains too high. We are seeing good progress in YIT employees' work safety, and we want to extend our efforts to cover everyone working on our sites. Achieving meaningful progress will require stronger engagement from all parties. Our goal is clear: There should not be any accidents on YIT's worksites. To measure the development, we set a reduction target to halve the cLTIF metric during the strategy period. To achieve this, we must intensify our collective focus on this across our supply chain.

During 2025, we sold close to 3,000 homes, delivered solid progress in more than 300 projects and achieved an order book of close to EUR 3 billion at the end of the year. I want to express my sincere thanks to all customers for placing their trust in YIT's capabilities to deliver the promises given. This is being done by our 4,000 employees and a partner network that are constantly finding new solutions to keep our offering competitive, building a better tomorrow for all of us together."

Results

October-December

YIT's order book amounted to EUR 2,915 million (30 Sep 2025: 2,929). At the end of the quarter, 76% of the order book was sold (30 Sep 2025: 75%).

YIT's revenue increased from the comparison period to EUR 557 million (521). Revenue increased in Residential CEE and Infrastructure and decreased in Residential Finland and Building Construction.

Adjusted operating profit for the quarter increased to EUR 25 million (13). Adjusted operating profit margin increased to 4.5% (2.6). Adjusted operating profit increased in Residential Finland, Residential CEE and Infrastructure and decreased in Building Construction.

YIT's operating profit increased to EUR 23 million (-17). Adjusting items amounted to EUR 2 million in the fourth quarter (31). The adjusting items in the comparison period were mainly related to the costs of the transformation program and operating profit from operations to be closed down in Sweden. Net finance costs amounted to EUR 15 million (15). The result for the period was EUR 3 million (-39).

January-December

YIT's revenue decreased to EUR 1,757 million (1,820). Revenue increased in Infrastructure and Residential CEE and decreased in Residential Finland and Building Construction.

YIT's adjusted operating profit increased to EUR 54 million (32) and the adjusted operating profit margin increased to 3.1% (1.7). Adjusted operating profit increased in Residential Finland, Building Construction and Infrastructure and decreased in Residential CEE.

YIT's operating profit increased to EUR 45 million (-55). Adjusting items amounted to EUR 9 million (86). Adjusting items in the comparison period included costs of transformation program and operating profit from operations to be closed down. Net finance costs amounted to EUR 55 million (64). The result for the period amounted to EUR -24 million (-112). Earnings per share was EUR -0.14 (-0.51).

Guidance and outlook for 2026

Guidance for 2026

YIT expects its Group adjusted operating profit* for continuing operations to be EUR 70-100 million in 2026.

Outlook for 2026

The residential market in the Baltic countries and Central Eastern Europe is expected to continue favorable, contributing positively to Residential CEE segment's capability to generate profit. Timing of the residential project completions may deviate from the original estimates leading to revenue and profit recognition shifting from one quarter or a year to another.

In Finland, the primary apartment market sales volumes are not expected to increase in 2026. In Residential Finland segment, low amount of completions during 2026 will limit the segment's capability to generate profit.

In Building Construction, the operational performance is expected to improve.

In Infrastructure, the operational performance is expected to remain stable.

Changes in the macroeconomic or global political environment may impact the residential market demand and the fair value of investments. The escalation of geopolitical risks reflected in general uncertainty and demand could have a negative impact on the company's financial position.

*YIT has defined non-strategic items, namely assets, that are not part of the company's strategic core operations according to the strategy for years 2025-2029 and which it intends to dispose of during the strategy period. Starting from the beginning of 2026, YIT will change the definition of operating profit adjusting items so that, going forward, the profit impacts related to non-strategic items will be included in operating profit adjusting items. The comparative Group adjusted operating profit for 2025 was EUR 50 million.

Board of Directors' proposal for profit distribution

The distributable funds of YIT Corporation on 31 December 2025 amounted to EUR 713 million, of which the profit for the period 2025 amounted to EUR -45 million.

YIT's Board of Directors has decided, that it will not propose dividend to be distributed based on the balance sheet to be adopted for 2025.

Webcast for investors and the media

A webcast in English and an international telephone conference will be arranged on February 6, 2026, at 10:00 a.m. EET. The results will be presented by Heikki Vuorenmaa, President and CEO of YIT Corporation, and interim CFO Markus Pietikäinen.

The webcast can be followed at https://yit.events.inderes.com/q4-2025/. A recording of the webcast will be available at the company's website after the event.

The teleconference can be accessed by registering at: https://events.inderes.com/yit/q4-2025/dial-in. After the registration, participants will be provided with phone numbers and a conference ID to access the conference. To ask a question, please dial *5 on your telephone keypad to enter the queue.

For further information:
Essi Nikitin, Vice President, Investor Relations, YIT Corporation, tel. +358 50 581 1455, essi.nikitin@yit.fi

YIT Corporation

Markus Pietikäinen
Interim CFO

Distribution: Nasdaq Helsinki, major media, www.yitgroup.com

YIT builds thriving living environments in Europe. For more than 110 years, we have made everyday life smoother. We build homes for a good life, spaces where people and businesses can thrive, and infrastructure that supports the essential functions of society.

We operate in seven countries and employ approximately 4,100 professionals. In 2025, our revenue was EUR 1.8 billion. YIT Corporation's shares are listed on Nasdaq Helsinki.

Read more: www.yitgroup.com and follow us on Linkedin I X I Instagram I Facebook

YIT clarifies the reporting of its strategy-aligned business operations

YIT has defined non-strategic items, namely assets, that are not part of the company's strategic core operations according to the strategy for years 2025-2029 published in November 2024, and which it intends to dispose of during the strategy period. The book value of these non-strategic items at the end of 2025 was approximately EUR 340 million.

Starting from the beginning of 2026, YIT will change the definition of operating profit adjusting items so that, going forward, the profit impacts related to non-strategic items will be included in operating profit adjusting items. Capital employed of the businesses will be presented as operative capital employed, which includes items aligned with the company's strategy. Return on capital employed (ROCE) will be calculated based on the operative capital employed. The change does not impact the company's financial targets.

As a result of the change, the reported adjusted operating profit and operative capital employed will more clearly reflect the profitability, capital usage, and capital efficiency of the company's strategic business operations. The aim of the change is to improve the transparency and comparability of reporting. Separating the impacts of non-strategic items from the adjusted operating profit and capital employed provides market participants with a clearer view of the company's operational performance and capital allocation.

In the Residential Finland segment, non-strategic items include associated companies and joint ventures as well as equity investments engaged in long-term property investment. Plots and properties related to vacation housing are also defined as non-strategic items in this segment.

In the Building Construction segment, non-strategic items include the segment's equity investment in Tripla Mall Ky and other associated companies and joint ventures engaged in long-term property investment. Segment's large self-developed, commercial-premises-driven area development projects and completed self-developed commercial premises projects bearing sales risk are also classified as non-strategic items.

Residential CEE segment, Infrastructure segment, and Other items do not include any non-strategic items as defined.

The changes in reporting will take effect on January 1, 2026, and the company will publish its first interim report reflecting the changes for January-March 2026 in April 2026. The company will publish restated comparison figures adjusted for the changes for the 2025 financial year before the release of the January-March 2026 interim report.

For further information: 
Essi Nikitin, Vice President, Investor Relations, YIT Corporation, tel. +358 50 581 1455, essi.nikitin@yit.fi

YIT Corporation 

Markus Pietikäinen 
Interim CFO 

Distribution: Nasdaq Helsinki, major media, www.yitgroup.com  

We build and develop sustainable living environments: functional and attractive homes, future-proof public and commercial buildings, infrastructure to support the green transition as well as industrial, production, and energy facilities to support our customers' processes. YIT's vision is to be the expert partner in developing sustainable homes, spaces, and cities - for a good life. There are approximately 4,100 professionals in our team and our revenue in 2024 was EUR 1.8 billion. YIT Corporation's shares are listed on Nasdaq Helsinki.  

Read more: www.yitgroup.com and follow us on Linkedin I X I Instagram I Facebook

YIT started construction work on the first plot of the Circular Economy Block. A total of 70 right-of-occupancy apartments and 84 rental apartments for seniors will be completed in Jätkäsaari, Helsinki. In addition, the block will have service spaces for communal activities, as well as business premises. The building has eight residential floors and an underground garage floor, on top of which a yard deck is implemented. The size of the building is over 11,000 square meters. The estimated completion of the works will take place in the spring of 2028.

The Yrjö and Hanna Foundation acts as the developer in the project, YIT is the turnkey project's contractor, architectural design is carried out by ARK-house Architects and AINS Group is responsible for other design areas. Yrjö and Hanna Foundation's office premises will be located in the block.

"We are really excited about this unique project and happy that construction is finally starting. The block creates a completely new kind of active and participatory urban life, which is needed to achieve a sustainable future," says Petri Kokkonen, CEO of the Yrjö and Hanna Foundation.

"In the Circular Economy Block, encounters between different generations create an environment for sharing experiences and learning new things. Besides circular economy, the starting point for the planning of the block is a sense of community, which will be fostered by common spaces, meeting places, yard areas and recreational spaces designed for the residents. Community is always rooted in the residents themselves and their wishes. The residents will shape the block's activities in line with their preferences. Yrjö and Hanna Foundation is involved in creating a safe and comfortable living environment in the block together with the residents," adds Kokkonen.

A holistic approach to the sustainable construction of the future

The Circular Economy Block is a development project that uses a new kind of construction method and takes into account the circular economy during both construction and use.

"The design, construction and use of the block are based on the principles of the circular economy and low carbon emissions. A long life cycle is planned for the building, and the premises will be adaptable so that they will serve the needs of users also in the future," explains VP Esa Turkka, YIT.

Materials used in construction are renewable, recycled or recyclable or have a lower environmental burden, such as low-carbon concrete.

During the use and maintenance of the building, the circular economy is also taken into account in production, use, and recovery of energy, as well as in water consumption. In the choice of materials, the emissions of materials and the share of recycled raw materials are considered, alongside the recyclability of materials at the end of their life cycle.

"The development of circular economy solutions for facades has been carried out in close collaboration with operators in the sector. One example is the circular economy brick, which reduces the need for new raw materials, saves natural resources and reduces carbon dioxide emissions from brick manufacturing. Heating energy for the building will be generated by a geothermal heat system and some of the electrical energy required by the property will be produced by solar panels located on the roof," notes Turkka.

The project is part of Helsinki's Kehittyvä kerrostalo development program. The project's development themes include circular economy during construction and affordable and repeatable circular economy solutions.

Read more:
The circular economy brick won the Finland Chamber of Commerce's Sustainability Deed of the Year award | YITGroup.com
The Jätkäsaari Circular Economy Block will have a new circular economy brick as facade material | YITGroup.com
YIT has signed an agreement with the Yrjö and Hanna Foundation for the construction of the Jätkäsaari Circular Economy Quarter in Helsinki | YITGroup.com

For more information:
Esa Turkka, VP, Housing Segment, YIT, tel. +358 40 551 5945, esa.turkka@yit.fi
Petri Kokkonen, CEO, Yrjö and Hanna Foundation, tel. +358 40 457 1670, petri.kokkonen@yrjojahanna.fi
Ilkka Murto, Project Development Manager, Yrjö and Hanna Foundation, tel. +358 40 124 4499, ilkka.murto@yrjojahanna.fi

YIT Group Communications, tel. +358 44 743 7536, press@yit.fi

We build and develop sustainable living environments: functional and attractive homes, future-proof public and commercial buildings, infrastructure to support the green transition as well as industrial, production, and energy facilities to support our customers' processes. YIT's vision is to be the expert partner in developing sustainable homes, spaces, and cities - for a good life. There are approximately 4,100 professionals in our team and our revenue in 2024 was EUR 1.8 billion. YIT Corporation's shares are listed on Nasdaq Helsinki.

Read more: www.yitgroup.com and follow us on Linkedin I X I Instagram I Facebook

Publishing of YIT Corporation's Financial Statements Bulletin 2025 on February 6, 2026

YIT Corporation's Financial Statements Bulletin 2025 will be published on Friday, February 6, 2026, at approximately 8:30 a.m. EET. The stock exchange release and the reporting materials in Finnish and in English will be available at that time on the company's website at www.yitgroup.com/investors.

A webcast in English and an international telephone conference will be arranged on February 6, 2026, at 10:00 a.m. EET. The results will be presented by Heikki Vuorenmaa, President and CEO of YIT Corporation, and interim CFO Markus Pietikäinen. 

The webcast can be followed at https://yit.events.inderes.com/q4-2025/. A recording of the webcast will be available at the company's website after the event.

The teleconference can be accessed by registering at: https://events.inderes.com/yit/q4-2025/dial-in. After the registration, participants will be provided with phone numbers and a conference ID to access the conference. To ask a question, please dial *5 on your telephone keypad to enter the queue.

The event is targeted for investors, analysts, and the media. Welcome!

For further information:
Essi Nikitin, Vice President, Investor Relations, YIT, tel. +358 50 581 1455, essi.nikitin@yit.fi

Distribution: Nasdaq Helsinki, major media, www.yitgroup.com

We build and develop sustainable living environments: functional and attractive homes, future-proof public and commercial buildings, infrastructure to support the green transition as well as industrial, production, and energy facilities to support our customers' processes. YIT's vision is to be the expert partner in developing sustainable homes, spaces, and cities - for a good life. There are approximately 4,100 professionals in our team and our revenue in 2024 was EUR 1.8 billion. YIT Corporation's shares are listed on Nasdaq Helsinki.

Read more: www.yitgroup.com and follow us on Linkedin I X I Instagram I Facebook

Proposals of the Shareholders' Nomination Board to the Annual General Meeting

The Shareholders' Nomination Board of YIT Corporation presents the following proposals to the Annual General Meeting of YIT Corporation, which meets on March 19, 2026:

Number of members of the Board of Directors

The Nomination Board proposes that a Chairperson, a Vice Chairperson and four (4) ordinary members be elected to the Board of Directors.

Fees of the Chairperson, Vice Chairperson and members of the Board of Directors

The Nomination Board proposes that the fees of the members of the Board of Directors remain the same as previous year.

The Nomination Board proposes that the members of the Board of Directors be paid the following fixed annual fees for the term of office ending at the conclusion of the next Annual General Meeting:

• Chairperson of the Board: EUR 105,000,
• Vice Chairperson of the Board and Chairpersons of the permanent Committees: EUR 73,500, unless the same person is Chairperson of the Board or Vice Chairperson of the Board and
• Members: EUR 52,500.

In addition, the Shareholders' Nomination Board proposes that the annual remuneration for the members of the Board of Directors shall be paid in Company shares so that 40% of the annual fee is paid in YIT Corporation shares to be purchased on the Board members' behalf from the market at a price determined in public trading from a regulated market (Nasdaq Helsinki Ltd). The shares will be purchased within two weeks of the publication of the Interim Report for the period January 1, 2026 - March 31, 2026, or as soon as possible in accordance with applicable legislation. The Company will pay any costs related to the purchase of Company shares.

It is recommended by the Nomination Board that members of the Board of Directors do not divest the shares awarded to them as a fixed annual fee until their term on the Board expires. The Nomination Board views that long-term oriented and increasing share ownership by the members of the Board of Directors benefits all shareholders.

It was further decided to propose to the Annual General Meeting that in addition to the fixed annual fee, the members of the Board and its permanently and temporarily appointed committees be paid a meeting fee of EUR 800 per meeting, also for meetings of the Board and its committees held via electronic remote connections or by telephone.

It is also proposed that the chairperson of the Board and the chairpersons of the permanent and temporarily appointed committees be paid a meeting fee of EUR 1,600 per meeting. Per diems are proposed to be paid for trips in Finland and abroad in accordance with YIT Corporation's and tax authorities travelling compensation regulations.

In addition, it is also proposed to the general meeting that the members of the Shareholders' Nomination Board, including the expert member, be paid as previous year a meeting fee of EUR 800 per Board meeting and the Chairperson be paid EUR 1,600 per Board meeting

Proposal for Chairperson, Vice Chairperson and members of the Board of Directors

The Nomination Board proposes to the Annual General Meeting that Jyri Luomakoski will be re-elected as Chairperson, Casimir Lindholm as Vice Chairperson and Anders Dahlblom, Sami Laine, Kerttu Tuomas and Leena Vainiomäki will be re-elected for a term ending at the close of the next Annual General Meeting following their election.

With regard to the selection procedure for the members of the Board of Directors, the Nomination Board recommends that shareholders take a position on the proposal as a whole at the Annual General Meeting. In preparing its proposals the Nomination Board, in addition to ensuring that individual nominees for membership of the Board of Directors possess the required competences, has determined that the proposed Board of Directors as a whole also has the best possible expertise for the company and that the composition of the Board of Directors meets other requirements of the law and the Finnish Corporate Governance Code for listed companies.

All candidates have consented to being elected and are independent of the company or its major shareholders, except Anders Dahlblom who is dependent on a major shareholder. Essential information regarding the proposed candidates is available on the YIT website at https://www.yitgroup.com/nominationboard.

Shareholders' Nomination Board

YIT Corporation's Annual General Meeting held on March 15, 2016, decided to set up a Shareholders' Nomination Board, to prepare proposals for the Annual General Meeting on the election and remuneration of the members of the Board of Directors.

YIT's three largest shareholders according to Euroclear's shareholder register on August 29, 2025, and according to the standing order were Tercero Invest AB, shareholder group (PNT Group Oy, Noora Pentti, Fideles Oy, Kristian Pentti, Kristina Pentti-von Walzel, Eva Pentti-Kortman and Heikki Pentti Estate), and Varma Mutual Pension Insurance Company. The following persons have been nominated as their representatives to YIT's Nomination Board:

• Alexander Ehrnrooth, CEO, Tercero Invest AB (18,53% of shares and votes)
• Kristina Pentti-von Walzel, CEO Laponie Oy, the shareholder group PNT Group Oy, Noora Pentti, Fideles Oy, Kristian Pentti, Kristina Pentti-von Walzel, Eva Pentti-Kortman and Heikki Pentti Estate (16.71% of shares and votes)
• Risto Murto, President and CEO, Varma Mutual Pension Insurance Company (5.69% of shares and votes)

As the Nomination Board's Chairperson acts CEO Alexander Ehrnrooth. The Chairperson of YIT Corporation's Board of Directors, Jyri Luomakoski, participates in the Nomination Board's work as an expert member.

The Nomination Board prepares the proposals concerning Board members and Board compensation for the following Annual General Meeting.

The Board of Directors of YIT Corporation includes these proposals in the notice of the Annual General Meeting of 2026.

For further information:
Alexander Ehrnrooth, Chairperson of the Nomination Board, tel. +358 9 6122 340
Juha Jauhiainen, Corporate General Counsel, YIT Corporation, tel. +358 40 725 9643

YIT Corporation

Markus Pietikäinen
CFO, interim

Distribution: Nasdaq Helsinki, major media, www.yitgroup.com

We build and develop sustainable living environments: functional and attractive homes, future-proof public and commercial buildings, infrastructure to support the green transition as well as industrial, production, and energy facilities to support our customers' processes. YIT's vision is to be the expert partner in developing sustainable homes, spaces, and cities - for a good life. There are approximately 4,100 professionals in our team and our revenue in 2024 was EUR 1.8 billion. YIT Corporation's shares are listed on Nasdaq Helsinki. 

Read more www.yitgroup.com and follow us on Linkedin I X I Instagram I Facebook

YIT, XTX Markets and regional partner companies, Paikallissähkö, LVI-Aitta and Sundström, have committed to donate EUR 125,000 to pediatric and youth health services at Kainuu Central Hospital to support pediatric care and the well-being of local families.  

The commitment coincided with the topping-out ceremony for the second building in the XTX Markets data center complex in Kajaani, attended by senior management from XTX Markets, YIT and our construction partners. This construction is part of the rapidly developing Kajaani data-centre ecosystem, supporting the next generation of digital infrastructure.  

The donation also celebrates a major safety milestone for the project: 500 accident-free working days across the Kajaani data center construction sites. The milestone reflects a strong, shared safety culture from the very beginning of the project. Through close collaboration and a consistent focus on occupational safety, the teams have created a work environment where everyone looks out for one another. 

"Safety is at the heart of everything we do," said Heikki Vuorenmaa, President and CEO of YIT. "Reaching 500 accident-free days is a testament to the professionalism, commitment and teamwork of everyone on site. We are proud to celebrate this achievement by giving back to the local community and supporting the important work of Kainuu Central Hospital." 

Jukka-Pekka Partanen, Head of XTX Markets Finland and Data Centre Director, said, "We set ambitious targets for our data center project in terms of scale and speed, and we are proud to be meeting those objectives with the latest topping-out milestone.  

It's also fantastic to be truly embedded in the local community - through our partnership with Kajaani University of Applied Sciences, support for the city's 375th-anniversary celebrations and the large number of local contractors working on the construction site. We are delighted to make this commitment to Kainuu Central Hospital. XTX Markets has a long history of philanthropic support for the communities where we operate, and we are thrilled to back the hospital's important pediatric work." 

Representatives of the Kainuu Wellbeing Services County accepted the donation at the project's topping-out ceremony. Chief Physician Liisa Kalliokoski said the corporate contributions will be used to acquire new equipment for the neonatal intensive care unit. "Upgrading a ventilator designed for newborns and replacing an ultrasound imaging system are both timely needs. We are deeply grateful for the companies' generous support." 

XTX Markets is a leading algorithmic trading firm which uses state-of-the-art machine learning technology to produce price forecasts for over 50,000 financial instruments. The company selected Kajaani to construct its large-scale data center complex to future-proof its significant computational capabilities. YIT announced an agreement in December 2024 to construct XTX Markets' first data center in Kajaani and, in August 2025, signed a subsequent agreement to begin building a second facility. 

For further information: 

YIT Corporate communications, tel. +358 44 743 7536, press@yit.fi

We build and develop sustainable living environments: functional and attractive homes, future-proof public and commercial buildings, infrastructure to support the green transition as well as industrial, production, and energy facilities to support our customers' processes. YIT's vision is to be the expert partner in developing sustainable homes, spaces, and cities - for a good life. There are approximately 4,100 professionals in our team and our revenue in 2024 was EUR 1.8 billion. YIT Corporation's shares are listed on Nasdaq Helsinki. 

Read more: www.yitgroup.com and follow us on Linkedin I X I Instagram I Facebook

YIT and Atria Oyj have signed an agreement on the construction of a convenience food production plant in Nurmo, Seinäjoki. The total value of the contract for YIT is approximately EUR 13 million, and it will be recorded in the order book for the first quarter of the year. The contract supports YIT's strategy, in which energy and industrial construction projects play a key role in building a sustainable society, promoting a clean transition.

YIT will be responsible for the construction of a new building to expand the convenience food production plant. The food production plant concept of future is part of Atria's clean transition investment, where convenience food production and related energy solutions are modernized by upgrading the production process and other technical systems to the most energy-efficient solutions.

"Atria's food production plant concept of the future is a significant investment in the strengthening of Finland's food production and security of supply. With our investment of over 80 million euros, we will modernize our production and take a major step toward carbon-neutral food production. In collaboration with YIT, we are implementing this project and building a future where Finnish food is of high quality, innovative, and environmentally friendly - and where security of supply and food security are stronger than ever," said Mika Ala-Fossi, President and CEO of Atria Finland.

"It is great to be able to take this project forward in line with YIT's strategy and to utilize our long-term expertise in an industrial construction and clean transition project. We are grateful for this confidence in our experienced organization and proud to be able to develop and implement modern and functional work environments for local actors. In close cooperation with the project parties, we get to build a high-quality facility," said Peter Forssell, EVP, Building Construction segment at YIT.

Construction work has been started, and construction has progressed to the foundation stone masonry, which will be held on Monday, January 19 at Atria's Nurmo production plant, led by Prime Minister of Finland Petteri Orpo. The construction work has just started, and it is slated for completion by the end of 2026.

Further information:
YIT Group Communications, tel. +358 44 743 7536, press@yit.fi

We build and develop sustainable living environments: functional and comfortable homes; public and commercial buildings for future needs; infrastructure to promote the green transition; and industrial, production and energy facilities to support our customers' processes. YIT's vision is to be the most competent partner in the development of sustainable homes, facilities and cities - for a good life. The company employs around 4,100 professionals, and in 2024 our turnover was EUR 1.8 billion. YIT's shares are listed on Nasdaq Helsinki.

Learn more: https://www.yitgroup.com/en and follow us on LinkedIn I X I Instagram I Facebook

Change in the YIT Leadership Team: Mari Puoskari appointed EVP, Residential Finland segment  

YIT has appointed Mari Puoskari (M.Sc. Tech.) as EVP, Residential Finland segment and a member of YIT's Leadership Team, effective 8.7.2026, at the latest. She currently serves as CEO of Pilke Päiväkodit Oy and Dibber Sverige Ab. 

Mari Puoskari brings over 20 years of experience in both corporate and public roles. Prior to her current position, she was CEO of FCG Finnish Consulting Group and has also held senior business leadership roles at Pöyry and Ekokem. In addition, Mari has served in several public positions, including as Chair of the Helsinki City Council from 2013 to 2016. 

"Enhancing customer experience is a strategic priority for us, and I am pleased that under Mari Puoskari's leadership we can advance this in the Residential Finland segment. Customer expectations are evolving rapidly, and we want to ensure YIT responds with greater agility. Mari brings strong expertise in customer-centric development, change leadership, and strengthening competitiveness in fast-changing markets. This experience is invaluable as we develop both YIT Homes' product portfolio and our ways of working to meet customer expectations," said Heikki Vuorenmaa, President and CEO, YIT Corporation. 

Heikki Vuorenmaa will continue as interim leader of the Residential Finland segment, alongside his duties as the CEO, until Mari Puoskari assumes the role.  

CV Mari Puoskari  

Born 1979 

 
Education: 

M.Sc. Tech (Chemical and Environmental Engineering) 

Primary work experience: 

• Pilke Kindergartens: CEO, 2022- 

• Dibber Sverige Ab: CEO, 2024-   

• FCG Finnish Consulting Group: Group CEO, 2018-2022  

• Pöyry: President, Environment, 2017-2018 

• Ekokem: various leadership roles, 2013-2016 

Positions of trust:  

• Remeo Oy, Member of the Board, 2019- 

• A-Insinöörit, Member of the Board, 2023-  

• LUT University, Member of the Advisory Board, 2022-   

• Elo, Member of the Supervisory Board, 2023-, vice chairman and member of election committee 2026-  

Further information: 
YIT Group Communications, tel. +358 44 743 7536, press@yit.fi

Distribution: NASDAQ Helsinki, major media, www.yitgroup.com

YIT Corporation 

Heikki Vuorenmaa 
President and CEO 

We build and develop sustainable living environments: functional and attractive homes, future-proof public and commercial buildings, infrastructure to support the green transition as well as industrial, production, and energy facilities to support our customers' processes. YIT's vision is to be the expert partner in developing sustainable homes, spaces, and cities - for a good life. There are approximately 4,100 professionals in our team and our revenue in 2024 was EUR 1.8 billion. YIT Corporation's shares are listed on Nasdaq Helsinki. 

Read more: www.yitgroup.com and follow us on Linkedin I X I Instagram I Facebook

In line with its strategy, YIT seeks growth in rail infrastructure projects in Finland. To strengthen its railway construction expertise, YIT has agreed to acquire Electric Power Finland Oy's railway services business. As part of the transaction, the personnel, equipment, and certifications related to the business will become part of YIT's Infra segment. The parties have agreed not to disclose the purchase price.  

Electric Power Finland Oy, founded in 2007, provides turnkey solutions for demanding electrical construction and railway technical system projects. The company's railway services business delivers railway electrification and signaling device projects and offers services for tram, metro and railway infrastructure. 

"This acquisition is a strategic investment for us in railway construction and maintenance expertise. We have collaborated with the Electric Power Finland team on several projects, and now we are joining forces to offer our customers comprehensive solutions that leverage the best expertise in the industry," said Aleksi Laine, EVP, Infrastructure, YIT. 

"We're very pleased with this transaction and about YIT continuing to grow and develop the railway services business. Our partnership has been highly productive, and this deal ensures that expertise in complex rail projects will be carried forward. Going forward, Electric Power Finland will focus on specialized power distribution, with metro and light rail remaining an important part of our service offering," said Tuomo Rauvala, CEO of Electric Power Finland. 

The transaction is expected to be completed by the end of January 2026. 

More information about Electric Power Finland Oy:  

Electric Power Finland Oy is a privately owned Finnish company established in 2007, specializing in demanding electricity distribution projects as well as testing and commissioning services. The company has offices in Paimio, Turku, Espoo, and Oulu. Electric Power Finland's revenue in 2024 was approximately EUR 14 million. www.epf.fi/en  

For further information: 

YIT Corporate communications, tel. +358 44 743 7536, press@yit.fi

Distribution: Nasdaq Helsinki, major media, www.yitgroup.com  

We build and develop sustainable living environments: functional and attractive homes, future-proof public and commercial buildings, infrastructure to support the green transition as well as industrial, production, and energy facilities to support our customers' processes. YIT's vision is to be the expert partner in developing sustainable homes, spaces, and cities - for a good life. There are approximately 4,100 professionals in our team and our revenue in 2024 was EUR 1.8 billion. YIT Corporation's shares are listed on Nasdaq Helsinki. 

Read more: www.yitgroup.com and follow us on Linkedin I X I Instagram I Facebook

YIT has launched a self-developed residential project in Oulu: the construction of Asunto Oy Oulun Merijalinportti. The project consists of 36 new YIT Homes in two buildings, an apartment building and a terraced house. The value of the project is almost EUR 15 million. Construction began in December 2025 and is slated to be complete in September 2027.

The apartment building located in Oulu's Länsi-Tuira will have about 1 900 square meters of living area. Almost all homes have a spectacular view on the river. The Merijalinportti residential building will include cozy high-class homes. The unique, protected and charming old log building will be restored on the outside and completely renovated on the inside with two-story terraced house apartments.

The apartment sizes will range from 27.5 to 112.5 square meters, with choices from many different floor plans, from studios to five-room apartments with kitchens. Länsi-Tuira's Merijalinranta is a fifteen-minute walk from all everyday services, with lush greenery right outside the windows. Parking is mainly underground in the parking garage, with elevator access for residents of the apartment building. Residents get to live in comfort thanks to the building's sheltered and fenced courtyard.

"Asunto Oy Merijalinportti is an idyllic place to live that combines beautiful views with modern living. The homes are on the banks of Oulujoki river and the location offers seasonal views and a unique environment for the residents. All homes are within walking distance to the city center and everyday services," says Sales Manager Mira Kontio from YIT's Northern Finland Unit.

Learn more:
Oulu Merijalinportti - apartments for sale | YIT.fi

Further information:
YIT Group Communications, tel. +358 44 743 7536, press@yit.fi

We build and develop sustainable living environments: functional and comfortable homes; public and commercial buildings for future needs; infrastructure to promote the green transition; and industrial, production and energy facilities to support our customers' processes. YIT's vision is to be the most competent partner in the development of sustainable homes, facilities and cities - for a good life. The company employs around 4,100 professionals, and in 2024 our turnover was EUR 1.8 billion. YIT's shares are listed on Nasdaq Helsinki.

Learn more: www.yitgroup.com/en and follow us on LinkedIn I X I Instagram I Facebook

YIT signs a EUR 200 million sustainability-linked revolving credit facility and an amendment and restatement to its existing term loan facility

YIT Corporation has today signed a new EUR 200 million sustainability-linked revolving credit facility agreement with its main lenders, for the purpose of refinancing YIT's existing revolving credit facility, and an amendment and restatement agreement to YIT's existing term loan facility agreement with a currently outstanding principal amount of EUR 30 million to align its key terms with the new revolving credit facility agreement.

Each of the facilities are secured by the existing shared security pool. The new revolving credit facility will mature in December 2028 with an option to extend the maturity to December 2029 and the existing term loan facility will mature in January 2027. The facility agreements include certain covenants as well as restrictions on distributions. The margin of the new revolving credit facility is impacted by, positively or negatively, the performance in regard to three sustainability targets which are measured with the following indicators: emission intensity of the Group's own operations (CO₂e emissions per EUR millions of revenue) (Scope 1 and 2 GHG emissions), emission intensity of the Group's value chain (CO₂e emissions per EUR millions of revenue) (Scope 3 GHG emissions) and lost time injury frequency rate (including partners).

Further information:

Markus Pietikäinen, CFO, interim, YIT Corporation, tel. +358 40 525 3024, markus.pietikainen@yit.fi

Distribution: Nasdaq Helsinki, major media, www.yitgroup.com

We build and develop sustainable living environments: functional and attractive homes, future-proof public and commercial buildings, infrastructure to support the green transition as well as industrial, production, and energy facilities to support our customers' processes. YIT's vision is to be the expert partner in developing sustainable homes, spaces, and cities - for a good life. There are approximately 4,100 professionals in our team and our revenue in 2024 was EUR 1.8 billion. YIT Corporation's shares are listed on Nasdaq Helsinki. 

Read more www.yitgroup.com and follow us on LinkedinI XI InstagramI Facebook

YIT to launch the development phase of the Tuusula health and social services centre and Varuskunnanaukio parking facility

YIT, the Central Uusimaa Wellbeing Services County (Keusote) and the Municipality of Tuusula have signed an agreement on the development phase of the construction project for the Tuusula health and social services centre and Varuskunnanaukio parking facility. The project will be carried out in the centre of Hyrylä in Tuusula as a cooperative project management contract. The estimated target budget for the project management contract, determined by the client of the project aiming at the implementation phase after the development phase, is approximately EUR 44 million. The target budget will be revised during the development phase.

The project covers the design and construction of the health and social services centre and the parking facility next to it, including its yard area. Three above-ground and one underground floor are planned for the health and social services centre. In accordance with the environmental and sustainability objectives of the project, low carbon emissions and energy efficiency will be taken into account in the development phase, and biodiversity will be promoted.

"We are happy to be able to take forward a project that is important to us. The aim is not only to build new premises, but at the same time to develop operating methods and use the premises more efficiently. The winning proposal provides good opportunities for this," says Taneli Kalliokoski, Keusote's Director of Facilities and Support Services.

"It is great that we will be able to utilize our extensive expertise in health care projects in the development of the Tuusula health and social services centre. In this project, which is in line with our unit's strategy, we want to ensure that our customers will gain high-quality, accessible, customer-oriented, and cost-effective premises," says Pekka Luukkonen, Head of Public New Construction at YIT.

The health and social welfare centre will house premises for Keusote, the municipality of Tuusula, and the Hus Diagnostics Centre, as well as for private operators. The health and social services centre will serve all residents of the wellbeing services county.

The development phase will be in full swing in January and the goal is to move to the project implementation phase lasting around two years in the summer of 2026.

Further information:
YIT Group Communications, tel. +358 44 743 7536, press@yit.fi

Distribution: NASDAQ Helsinki, major media, www.yitgroup.com/en

YIT is a leading construction company and project developer. Building on our more than 110 years of experience, we develop and build sustainable living environments: functional real estate for accommodation, public and commercial buildings for the future needs, and infrastructure to promote the green transition. The company employs approximately 4,300 professionals in eight countries, and in 2023 our turnover was EUR 2.2 billion. YIT Corporation's shares are listed on Nasdaq Helsinki.

Lue lisää: www.yitgroup.com/fi ja seuraa meitä Linkedin I X I Instagram I Facebook

YIT has entered into a joint venture with Czech-Slovak ONE FAMILY OFFICE in Czechia to accelerate growth in the Residential CEE segment. The cooperation supports YIT's strategic focus to improve capital efficiency. YIT and ONE FAMILY OFFICE each own 50% of the now established joint venture. The parties have agreed not to disclose the value of the transaction. 

The first project under this cooperation will be Lumo Braník, a residential development project in Prague 4. The project will transform the former Kuta Centrum administrative block into a modern residential area offering approximately 150 apartments. Construction is expected to start in 2026. The location combines peaceful surroundings with excellent transport connections and comprehensive local amenities, making it an attractive choice for sustainable urban living. 

"The transaction is an important step in executing our strategy to strengthen the Residential CEE segment and enhance capital efficiency. Partnering with a financially strong and experienced investors enables us to accelerate growth and scale up our opportunities," said Justyna Filipczak, EVP, Residential CEE at YIT. 

The cooperation will focus on residential development projects in Czechia, where YIT has a strong track record and brand presence. YIT will be responsible for project development, construction, and sales, while ONE FAMILY OFFICE will contribute to project financing. 

For further information: 

YIT Corporate communications, tel. +358 44 743 7536, press@yit.fi

Distribution: Nasdaq Helsinki, major media, www.yitgroup.com  

We build and develop sustainable living environments: functional and attractive homes, future-proof public and commercial buildings, infrastructure to support the green transition as well as industrial, production, and energy facilities to support our customers' processes. YIT's vision is to be the expert partner in developing sustainable homes, spaces, and cities - for a good life. There are approximately 4,100 professionals in our team and our revenue in 2024 was EUR 1.8 billion. YIT Corporation's shares are listed on Nasdaq Helsinki. 

Read more: www.yitgroup.com and follow us on Linkedin I X I Instagram I Facebook

According to YIT's Sustainable Urban Environments Barometer, conducted in October 2025, nine percent of residents in Finland's largest cities plan to purchase a home within the next year. Interest is notably higher among families with children, with nearly one-fifth (17%) considering buying a home or switching to owner-occupied housing. 

"Even though sluggish economic growth and weak consumer confidence have slowed the housing market's recovery, homeownership continues to be viewed as a financially sound choice," says Pekka Helin, Senior Vice President for Housing Customer Relations and Services at YIT. 

Shifts in consumer expectations are also visible. Demand for studio apartments has declined, while interest in larger homes is growing. "Respondents clearly expressed a desire for more space," Helin notes. 

The most common reasons for buying a new home are changes in life circumstances or family size (30%) and the need for additional space (29%). One in six (16%) are motivated by the desire for a higher-quality home, while another 16% are seeking a more affordable option. 

Concerns about housing costs and renovations on the rise 

Uncertainty around housing-related costs is growing again. While concern over energy prices has eased compared to last year (41%, down from 48%), more people are worried about upcoming repair needs (35%, up from 27%) and the rising cost of major renovations (17%, up from 12%). Despite falling interest rates, concern over mortgage rates has also increased (20%, up from 15%). 

One in five (21%) residents of major cities said they had considered buying a home in the past year but ultimately postponed the decision. This was particularly common among families with children (35%). Of those who delayed their purchase, 38% cited financial reasons, 27% could not find a suitable home, and 18% said the global situation felt too uncertain. 

Home ownership remains financially appealing 

Owner-occupied housing continues to be perceived as a more attractive financial choice than renting. Looking ahead two to five years, 39% of respondents want to live in an owner-occupied home, while 26% prefer renting. 

Among renters, nearly half (48%) chose their housing type for its ease and flexibility. Those who preferred ownership most often cited stability (52%), the opportunity to invest in their home (41%), and the potential to build wealth (36%). One-third (34%) said they value owner-occupation because it allows them to make decisions about interior design choices and materials. 

"A new home provides everyday security. There's no need to worry about renovations, and running costs are predictable. Owning is owning - and that means having decision-making power," Helin emphasizes. 

About the study 

YIT's Sustainable Urban Environments Barometer examines how Finland's cities should develop in the future. This is the eighth edition of the survey. Respondents evaluated options related to housing, mobility, work environments, and urban spaces. The study targeted residents of Helsinki, Espoo, Vantaa, Tampere, Turku, Oulu, Jyväskylä, and Kuopio. The online panel of 1,000 consumers was conducted in October 2025. 

Further information: 
YIT Group Communications, tel. +358 44 743 7536, press@yit.fi 
 
We build and develop sustainable living environments: functional and comfortable homes; public and commercial buildings for future needs; infrastructure to promote the green transition; and industrial, production and energy facilities to support our customers' processes. YIT's vision is to be the most competent partner in the development of sustainable homes, facilities and cities - for a good life. The company employs around 4,100 professionals, and in 2024 our turnover was EUR 1.8 billion. YIT's shares are listed on Nasdaq Helsinki. 

Learn more: www.yitgroup.com/en and follow us on LinkedIn I X I Instagram I Facebook 

YIT started the construction of a self-developed apartment building project called Asunto Oy Raision Taimi in Raisio. The five-story residential building will house 34 YIT Homes. The value of the project is approximately EUR 7 million. Construction started in November 2025, and the project is slated for completion in November 2026.

The apartment building located in the Kerttula area of Raisio will comprise a living area of almost 2,000 square meters. Raision Taimi's apartments will range from 36.5 to 81.5 square meters in size, and residents may choose their new home from a variety of floor plans, ranging from two- to four-room apartments. The apartments' large windows will afford scenic views of the surrounding landscapes, making nature a part of the living space. The apartments will be designed to accommodate various life situations and needs.

The building will be built in line with the A energy class requirements. Apartment-specific monitoring of cold and hot water consumption will help save water. During construction, only renewable electricity will be used on the worksite and at least 75% of the waste generated on the site will be sorted for recycling. All parking spaces built for the housing company will be ready for a charger for electric vehicles.

"It's great that we're able to launch a new, self-developed YIT project in Raisio. The tranquil location near local amenities makes Raision Taimi an attractive home for first-time home buyers, families, and active seniors alike," says Petteri Laine, Regional Director of YIT Southwest Finland.

During the past year, YIT started the construction of a total of 441 new YIT Homes in 10 housing companies in Finland, including Asunto Oy Raision Taimi.

Learn more:
Raision Taimi - apartments for sale | YIT.fi

Further information:
YIT Group Communications, tel. +358 44 743 7536, press@yit.fi

We build and develop sustainable living environments: functional and comfortable homes; public and commercial buildings for future needs; infrastructure to promote the green transition; and industrial, production and energy facilities to support our customers' processes. YIT's vision is to be the most competent partner in the development of sustainable homes, facilities and cities - for a good life. The company employs around 4,100 professionals, and in 2024 our turnover was EUR 1.8 billion. YIT's shares are listed on Nasdaq Helsinki.

Learn more: www.yitgroup.com/en and follow us on LinkedIn I X I Instagram I Facebook

YIT and the City of Turku have signed the implementation phase contracts for the Kupittaa Core partnership project to kick off the construction phase of the Taito campus and the infrastructure project. The City Council of Turku approved the transition to the project's implementation phase on November 17, 2025. Construction will begin at the beginning of 2026, and the value of the project entity for YIT is approximately EUR 150 million. The Taito campus and infrastructure project are expected to be completed by the end of 2028. The entity also includes office and residential building rights, which enable YIT to implement self-developed projects in the area in the future.

The Kupittaa Core partnership project is one of the most important urban development projects in the City of Turku and it combines Kupittaa and Itäharju districts into a city centre-like area. The project will strengthen the position of Turku Science Park as one of the most significant growth centers in Finland.

Turku Vocational Institute's Taito campus (approximately 22,000 gross floor area m²) is a campus building for service sector education for approximately 3,000 students and 300 staff members. The building will be a landmark in the area and will accelerate the development of Kupittaa Core into a vibrant urban environment. It will be an attractive hub, with high-quality indoor and outdoor public spaces that will serve as a new meeting place for local residents. The goal of the Taito campus is to promote low-carbon construction, energy efficiency and diversity of urban nature. When completed, it will be one of the first educational institutions in Turku to receive the Rakennustieto Environmental Classification, 4 stars.

The infrastructure project includes the construction of a public transportation deck crossing Helsinginkatu and the railway, a parking facility (approx. 630 spaces), a mobility hub, a public square on the deck (Vipusenaukio) and a pavilion that will serve as an access route to venues for activities located under the deck. The deck connects Kupittaa and Itäharju areas, enabling smooth public transportation, pedestrian and cycling connections. The drop-off points and service yards located below the deck will increase the functionality and safety of the area. The solutions will also improve the accessibility and sustainable mobility of the area and promote the commissioning of the Taito campus. Low-carbon and circular economy solutions are favored in the project, and the implementation supports the achievement of Turku's carbon neutrality goals and the EU taxonomy's sustainability criteria.

Urban environments of the future

Kupittaa's partnership project is exceptionally extensive and versatile, including business premises and infrastructure projects, as well as urban development as part of the preparation of the area's zoning reference plan. The project will be implemented as an alliance between the City of Turku, YIT, Lundén Architecture and Renell Käppi Architects. The representative of the City of Turku in the project is Turku Technology and Science Park Ltd.

The development of Kupittaa Core is progressing in stages. The city plan for the area is prepared in two stages. The plan for the first phase reached legal force on November 15, 2025. The planning of the second phase is progressing and the plan proposal will be submitted in spring 2026. The City of Turku will decide on the progress of zoning separately, in order to ensure that the development proceeds as planned and in accordance with the objectives.

"The Kupittaan Core partnership project, which implements the vision of Turku Science Park, is one of Turku's most significant urban development projects. Investments in the urban structure of the Science Park strengthen Turku's national and international competitiveness. Turku's vitality benefits from the concentration of expertise, jobs, housing and services in the area, which also serves as a major transport hub. The developing connections will further integrate the Science Park into Finland's growth triangle and strengthen Turku's role as a gateway to Western Europe", said Mayor Piia Elo of the City of Turku.

"Kupittaa Core is an excellent example of how YIT's urban development expertise, sustainable construction and long-term cooperation are realized. We are proud to be involved in developing and implementing the new core of the Turku Science Park - a vibrant, sustainable and functionally diverse urban environment", said Juha Kostiainen, Executive Vice President, Urban Development & ESG at YIT.

For further information:
YIT Corporate communications, tel. +358 44 743 7536, press@yit.fi

Distribution: Nasdaq Helsinki, major media, www.yitgroup.com

We build and develop sustainable living environments: functional and attractive homes, future-proof public and commercial buildings, infrastructure to support the green transition as well as industrial, production, and energy facilities to support our customers' processes. YIT's vision is to be the expert partner in developing sustainable homes, spaces, and cities - for a good life. There are approximately 4,100 professionals in our team and our revenue in 2024 was EUR 1.8 billion. YIT Corporation's shares are listed on Nasdaq Helsinki.

Read more: www.yitgroup.com and follow us on Linkedin I X I Instagram I Facebook

YIT has received an approximate amount of EUR 51 million from Tripla Mall Ky as return of capital and profit distributions

Tripla Mall Ky has paid to its limited partner YIT Housing Oy an approximate amount of EUR 51 million as return of capital and profit distributions, as enabled by the refinancing.

YIT will use the received proceeds, together with previously received returns of capital and profit distributions from Tripla Mall Ky, totalling approximately EUR 57 million, for partial prepayment of the secured bank facility of YIT (an approximate amount of EUR 50 million) and partial prepayment and partial cancellation of the secured revolving credit facility of YIT (an approximate amount of EUR 8 million).

"The successful refinancing of Tripla enables the return of capital to the shopping centre's owners. We are very pleased with this outcome, which supports our strategic objectives and creates value for our shareholders", says Markus Pietikäinen, CFO, interim, YIT.

The received return of capital and profit distributions will have no impact on the reported result of YIT.

For further information:
Markus Pietikäinen, CFO, interim, YIT Corporation, tel. +358 40 525 3024, markus.pietikainen@yit.fi

Distribution: Nasdaq Helsinki, major media, www.yitgroup.com

We build and develop sustainable living environments: functional and attractive homes, future-proof public and commercial buildings, infrastructure to support the green transition as well as industrial, production, and energy facilities to support our customers' processes. YIT's vision is to be the expert partner in developing sustainable homes, spaces, and cities - for a good life. There are approximately 4,100 professionals in our team and our revenue in 2024 was EUR 1.8 billion. YIT Corporation's shares are listed on Nasdaq Helsinki.

Read more: www.yitgroup.com and follow us on Linkedin I X I Instagram I Facebook

YIT is building a new facility for the City of Helsinki's Kamppi Health and Wellbeing Centre, which will be completed more than a year ahead of schedule. The building can be handed over to the City of Helsinki already at the end of September 2026, which means that the city may receive the new premises more than 400 days earlier than planned. The renovated access route to the metro station and Kamppi shopping center will travel through the new building.

The Health and Wellbeing Centre will open in spring 2027, once the city has furnished the premises so that they are ready for the staff and customers.

"I am happy to say that the western entrance to the metro station, the ticket office and the Kampinkuja underground access route to the Kamppi shopping center will be ready for use already in the autumn of 2026, which will make the everyday life of people using public transport in the Helsinki Metropolitan Area that little bit easier. The pedestrian square in front of the new building will be made more pleasant. In August 2025, another city project was launched next to the property, involving the renovation of the street area surrounding the building. The construction work is coordinated to minimize the duration and extent of the inconvenience caused by the two worksites for local residents," says Head of Project, Jukka Niemelä from YIT.

The worksite operates in a busy, central location, next to the city center's historically valuable buildings and in connection with an operational metro station and public transportation tunnel. The construction site and the unique building with its underground facilities and connection points make for a particularly challenging and exceptionally demanding entity.

"The very good and solution-oriented cooperation with project's main contractor, YIT, and other parties has streamlined the construction. Careful advance planning of construction and simplification of complex matters during the development and implementation phase accelerated the implementation," says Tuomo Salonpää, Project Director at the City of Helsinki.

"We have been very successful in managing the different aspects of the project and the implementation schedule. During the work, we proactively developed solutions, such as the successful scheduling of metro technology, demolition and excavation work, optimization of the excavation method, solutions for a challenging cast-in-place frame and exterior walls, the development of the coordination of the metro escalator area, and the early integration of building technology contractors. I would like to thank the parties - the cooperation has been efficient and seamless with the client, user, designers, and subcontractors alike. We are going full steam ahead toward the approaching handover phase, working together to ensure a successful outcome," Niemelä adds.

The construction site's implementation phase kicked off in January 2024 with the demolition of the metro's ticket hall. Kamppi Health and Wellbeing Centre, located at Salomonkatu 8, will offer residents of the city center easily accessible, versatile, and modern public social and health care services. The new building will be located in area bordered by Runeberginkatu, Fredrikinkatu, Kampinkuja, and Salomonkatu. The metro's escalators have also been renovated in connection with the project. The building will also house a rental space for a pharmacy - a pharmacy operator is currently being sought for the premises.

The progress of the project can be monitored at: www.yit.fi/kampinthk

Further information:
YIT Group Communications, tel. +358 44 743 7536, press@yit.fi

Jukka Niemelä, Head of Project, YIT, jukka-pekka.niemela@yit.fi
Tuomo Salonpää, Project Director, City of Helsinki, tel. +358 9 3102 7226, tuomo.salonpaa@hel.fi 
Lars Rosengren, Services, Senior Medical Director, City of Helsinki, tel. +358 9 3105 7666, lars.rosengren@hel.fi

We build and develop sustainable living environments: functional and comfortable real estate as homes, public and commercial buildings for future needs, infrastructure to promote the green transition, and industrial, production and energy facilities to support our customers' processes. YIT's vision is to be the most competent partner in the development of sustainable homes, facilities and cities - for a good life. The company employs around 4,100 professionals, and in 2024 our turnover was EUR 1.8 billion. YIT's shares are listed on Nasdaq Helsinki.

Learn more: www.yitgroup.com/en and follow us on LinkedIn I X I Instagram I Facebook

The City of Helsinki's Urban Environment Division has chosen YIT as the development phase partner for the Jätkäsaari swimming and sports center. The project will begin with a development phase and will be carried out as a collaborative project management contract. The estimated total value of the construction contract for YIT, which aims to proceed to the implementation phase after development, is approximately EUR 87 million. The exact value will be confirmed during the development phase. 

The development phase will start in November 2025 and is expected to last until August 2026. At the end of this phase, a decision will be made on moving to the implementation phase, which is estimated to take about three years. 

The new building, with a gross area of approximately 21,000 square meters, will serve sports clubs, associations, local schools, independent fitness enthusiasts, and the City of Helsinki's own guided activities such as swimming lessons and water aerobics. Plans for the swimming and sports center include a 50-meter pool, a water play area, a ball game hall, a gym, other group exercise and training spaces, and a rooftop terrace for free movement. 

"We are pleased to have found a partner with strong expertise and the capacity to deliver a demanding construction project in the heart of Jätkäsaari. Throughout the tendering process, we prioritized quality to ensure a highly skilled team would lead the development phase and that the project is set up for success," said Jean Toljander, Project Director for the City of Helsinki.  

"We are proud to apply our technical capabilities and sustainable construction principles to the Jätkäsaari Swimming and Sports Center project. In close collaboration with the City of Helsinki, we will prioritize energy efficiency, circular economy practices, and the diverse needs of the center's users," said Peter Forssell, EVP of YIT's Construction segment. 

The project follows the City of Helsinki's ambitious targets for ecologically sustainable construction, prioritizing low-carbon materials, renewable energy, and energy performance beyond mandatory standards. Its carbon footprint will be further reduced through the use of low-carbon ready-mix concrete, waste-heat recovery systems, and locally generated renewable energy. 

Accessibility, diversity, and equality are central to the building's design. The swimming hall is planned to support a broad spectrum of user needs, from swimming instruction and fitness training to competitive swimming, adapted physical activity, and various forms of aquatic exercise. 

Read more: Jätkäsaari Swimming and Sports Center, City of Helsinki

For further information: 

YIT Corporate communications, tel. +358 44 743 7536, press@yit.fi

Distribution: Nasdaq Helsinki, major media, www.yitgroup.com  

We build and develop sustainable living environments: functional and attractive homes, future-proof public and commercial buildings, infrastructure to support the green transition as well as industrial, production, and energy facilities to support our customers' processes. YIT's vision is to be the expert partner in developing sustainable homes, spaces, and cities - for a good life. There are approximately 4,100 professionals in our team and our revenue in 2024 was EUR 1.8 billion. YIT Corporation's shares are listed on Nasdaq Helsinki. 

Read more: www.yitgroup.com and follow us on Linkedin I X I Instagram I Facebook

YIT Corporation Investor News November 25, 2025, at 8:30 a.m.

Espoon Koulutaival Oy selected YIT as the contractor for the three school and daycare center properties to be built in Espoo and as the producer of life cycle services for them. The project entity will be implemented as a cooperative rental project, and the contract also includes the demolition of the existing buildings. YIT is responsible for the design, implementation and 20-year service period of the project. The service period also includes responsibility for the optimum energy consumption of the properties. The buildings will be owned by the Espoon Koulutaival Oy, owned by the international Meridiam fund. Espoon Koulutaival Oy is also responsible for funding the project.

The total value of the contract for YIT is approximately EUR 90 million. The preliminary contracts for the planning phase were signed on November 20, 2025. Final leases between the City of Espoo and Espoon Koulutaival Oy, as well as contracts for the implementation phase between YIT and Espoon Koulutaival Oy, will be signed in early fall 2026, when building permits become legally effective. The project entity will be recorded in YIT's order book in stages as construction begins.

The project entity includes the Kurttila school, the new school building and the daycare center and library complex in Jupperi, and two daycare centers in Olari. The school and daycare facilities will be used by around 1,450 pupils and children in early childhood education and 170 staff members. The total scope of the project is more than 17,000 gross square meters.

User-centered design solutions aim to create spaces that genuinely meet users' needs and promote children's development, ensuring the outcome is functional and delivers value to the users. In the high-quality architecture of the buildings, special attention has been paid to their suitability for the environment. The goal is for the construction to start in the fall of 2026, when the planning phase is completed, so that all three sites will be completed by the end of 2028 at the latest.

"Espoo is a rapidly growing city and constantly needs new premises for the use of education and early childhood education, while the renewal of the old space stock requires its own investment. This project, implemented with a new model, responds perfectly to many of the needs that have been set for the Premises Services. With a single project, we will get three new, healthy and safe school and daycare center properties that meet the requirements of sustainability, innovation and the facility stock," says Maija Lehtinen, Managing Director of Espoo Premises Services.

"We at Espoon Koulutaival are very satisfied with the solution resulting from the procurement process. With a new procurement model, we achieved a high-quality project as a whole while staying within the given cost framework. The collaboration with Espoon Tilapalvelut, the representatives of the end-users, the supplier, and other parties involved in the procurement phase was extremely effective. We believe that this strong partnership will continue throughout the project's further planning, construction, and maintenance," says Aapo Nikunen, CEO of Espoon Koulutaival Oy.

"I am pleased that we were chosen as the contractor for the new schools and daycare centers to be built in Espoo and as their life-cycle service provider. Our long-term, good cooperation with Espoo continues with this significant project. "It is a pleasure to create high-quality, healthy, and safe spaces for children, pupils, and staff," says Matti Varstala, Design Director for Life Cycle Projects at YIT.

The life-cycle carbon footprint of the construction and worksite has been minimized through design solutions. Wood will be widely used in different structures to achieve the carbon footprint reduction target of more than 30% compared to the reference case of Rakennustieto's environmental classification. The goal is also to achieve a low-emission worksite using renewable energy sources. Five stars are sought for the project in the Rakennustieto environmental classification, which is the highest possible environmental classification level. The buildings will be highly energy efficient and will be equipped with solar power systems that cover at least 30% of their property and lighting electricity needs. The project's social sustainability is also being promoted in an entirely new way, for example by utilizing resident workshops and communications.

Further information:
YIT Group Communications, tel. +358 44 743 7536, press@yit.fi
Maija Lehtinen, maija.lehtinen@espoo.fi , Managing Director, Premises Services, City of Espoo

Distribution: NASDAQ Helsinki, major media, www.yitgroup.com/en

We build and develop sustainable living environments: functional and comfortable real estate as homes, public and commercial buildings for future needs, infrastructure to promote the green transition, and industrial, production and energy facilities to support our customers' processes. YIT's vision is to be the most competent partner in the development of sustainable homes, facilities and cities - for a good life. The company employs around 4,100 professionals, and in 2024 our turnover was EUR 1.8 billion. YIT's shares are listed on Nasdaq Helsinki.

Learn more: www.yitgroup.com/en and follow us on Linkedin I X I Instagram I Facebook

YIT proposes reserving a plot of approximately 45 hectares in the Hepomäki area of Kuopio for the development of a new data center. The matter is being discussed by the City Construction Board of Kuopio on 19 November. The plot reservation is a significant step toward the realization of the project and strengthens YIT's position as Finland's leading builder of data centers. During the development work, YIT's goal is to find suitable actors for the data center.

The Hepomäki data center project supports Finland's digital infrastructure and will bring, among other things, new jobs to the Kuopio region both during construction and operation and diversifies the region's economic structure. The project will strengthen Kuopio's position as a hub of sustainable technology and strong expertise, thereby acting as a driver of new investments and innovations.

"The development of the Hepomäki business area is part of the City of Kuopio's green transition goals, which promote the growth of energy-intensive industry, circular economy and resource-wise business. The region is undergoing active Invest In work, and YIT's data center project serves as a significant anchor for the development of the region. The project strongly supports the construction of a sustainable industry and digital infrastructure," said Jukka Pitkänen, Director of Economic Affairs at City of Kuopio, Business Development Services.

The waste heat generated by the data center can be utilized in Kuopio's district heating network, which will support the sustainable development in the region and attract other industries that utilize thermal energy to the region.

"Kuopio was selected because of its excellent electricity network capacity, location in terms of logistics, and the availability of skilled workforce. YIT's goal is to develop data centers that support both the technological infrastructure and regional sustainability, competence and faith in the future. Cooperation with the City of Kuopio has been seamless and goal-oriented. The city's readiness for rapid zoning supports the project's progress," Juho Siitonen, Vice President of Data Centers at YIT.

Learn more:
www.yit.fi/datacenters

Further information:
YIT Group Communications, tel. +358 44 743 7536, press@yit.fi
Jukka Pitkänen, Director of Economic Affairs, City of Kuopio, Business Development Services, tel. +358 44 718 2085, jukka.pitkanen@kuopio.fi

We build and develop sustainable living environments: functional and comfortable homes; public and commercial buildings for future needs; infrastructure to promote the green transition; and industrial, production and energy facilities to support our customers' processes. YIT's vision is to be the most competent partner in the development of sustainable homes, facilities and cities - for a good life. The company employs around 4,100 professionals, and in 2024 our turnover was EUR 1.8 billion. YIT's shares are listed on Nasdaq Helsinki.

Learn more: www.yitgroup.com/en and follow us on LinkedIn I X I Instagram I Facebook

YIT is starting the construction of a self-developed apartment building project called Asunto Oy Tuusulan Solki in Hyrylä, Tuusula. The eight-story residential building will house 49 homes. The value of the project is approximately EUR 14 million. Construction will begin in November, and the project is slated for completion in December 2026.

Located on a plot adjacent to Jokipuisto, the apartment building will comprise a living area of almost 3,000 square meters. Tuusulan Solki's apartments will range from 39.5 to 91.5 square meters in size, and residents may choose their new home from a variety of floor plans, ranging from two- to four-room apartments.

The building will be built in line with energy class A requirements. Apartment-specific monitoring of cold and hot water consumption will help save water. A carbon footprint calculation has been made for the project and, during the design phase, it enabled the choice of materials and solutions that put less burden on the environment. During construction, only renewable electricity will be used on the worksite and at least 75% of the waste generated on the site will be sorted for recycling.

Tuusulan Solki's parking spaces will be located partly in an underground garage to be built on the plot, which will have 21 parking spaces for Solki's residents, and partly in the Koskenmäentie parking garage to be built by the municipality of Tuusula, which will house 17 parking spaces for Solki's residents. All parking spaces built on the housing company's own plot will be ready for a charger for electric vehicles.

"It's great that we're able to launch a YIT self-developed project in Tuusula, because there's demand for new high-quality homes in the area. In Hyrylä the recreational facilities, grocery stores, schools, library and health services, are within walking distance" says Mikko Lempinen, VP for Housing, Uusimaa and Häme at YIT.

Learn more:
Tuusulan Solki - Apartments for sale | YIT.fi

Further information:
YIT Group Communications, tel. +358 44 743 7536, press@yit.fi

We build and develop sustainable living environments: functional and comfortable homes; public and commercial buildings for future needs; infrastructure to promote the green transition; and industrial, production and energy facilities to support our customers' processes. YIT's vision is to be the most competent partner in the development of sustainable homes, facilities and cities - for a good life. The company employs around 4,100 professionals, and in 2024 our turnover was EUR 1.8 billion. YIT's shares are listed on Nasdaq Helsinki.

Learn more: www.yitgroup.com/en and follow us on LinkedIn I X I Instagram I Facebook

YIT has been selected to carry out the excavation contract for Vantaa Energy's heat storage facility, Varanto, in Vantaa. The project is valued at approximately EUR 100 million for YIT. The project will be recorded in YIT's order book for the fourth quarter of 2025.  Excavation work will begin in December 2025, and the contract is expected to last around three years. 

Once completed, Varanto will be the world's largest seasonal heat storage facility, located deep beneath Ring Road III in Kuusikonmäki, Vantaa. The storage capacity will be 90 gigawatt-hours of district heating, equivalent to the annual heating needs of a medium-sized Finnish city. 

"Varanto is an exceptional project that combines scale, technical complexity, and societal significance. YIT has strong expertise in rock construction, and we are proud to be part of delivering this unique project," says Aleksi Laine, EVP of YIT Infra. 

"Varanto is a key part of Vantaa's district heating system and the city's climate goals. It enables us to store recycled energy for winter heating needs and make efficient use of affordable electricity. YIT's role as the excavation contractor is significant, as the project requires solid rock construction expertise," says Jukka Toivonen, CEO of Vantaa Energy. 

Varanto is scheduled for completion by 2030. 

Energy and industrial construction projects like the heat storage facility are a central part of YIT's strategy, which focuses on profitable growth and building a sustainable society. In line with the strategy, YIT is strengthening its position as an enabler of industrial development and the energy transition, delivering demanding projects such as energy plants and data centers. These projects combine YIT's technical expertise, project management capabilities, and responsible solutions that support customers' businesses and the green transition of society. 

For further information: 

YIT Corporate communications, tel. +358 44 743 7536, press@yit.fi

Distribution: Nasdaq Helsinki, major media, www.yitgroup.com  

We build and develop sustainable living environments: functional and attractive homes, future-proof public and commercial buildings, infrastructure to support the green transition as well as industrial, production, and energy facilities to support our customers' processes. YIT's vision is to be the expert partner in developing sustainable homes, spaces, and cities - for a good life. There are approximately 4,100 professionals in our team and our revenue in 2024 was EUR 1.8 billion. YIT Corporation's shares are listed on Nasdaq Helsinki. 

Read more: www.yitgroup.com and follow us on Linkedin I X I Instagram I Facebook

YIT has started the construction of the self-developed Asunto Oy Vaasan Sommelier apartment building in Klemettila, Vaasa. A total of 36 homes will be built in the five-story residential building. The value of the project is approximately EUR 8 million. The homes are slated for completion in the autumn of 2026.

The apartment building, located near the city center, will have around 1,600 square meters of living space. Vaasa's Sommelier apartments will be 25.5-75.5 square meters in size, and residents can select their new home from a variety of floor plans ranging from one to three rooms. In the Klemettilä block, the shared spaces will also be first class in quality. Residents will have access to a hobby space, a laundry, and a drying room. In addition, the residents of Vaasa's Sommelier will have the right to use the shared use space, sauna department and the bike maintenance room that will be located in the neighboring housing company to be built later.

Vaasa's Sommelier will be built in line with the energy class A requirements. Apartment-specific monitoring of cold and hot water consumption will help save water. During construction, only electricity generated with wind power will be used on the worksite and at least 75% of the waste generated on the worksite will be sorted for recycling. Most of Sommelier's parking spaces will be located in an underground parking garage and have reservations for a charger for electric vehicles. For added comfort, the housing company will be smoke-free, which has also been recorded in its articles of association.

"It is great to be able to launch a new YIT self-developed apartment building project in Vaasa. Vaasa's Sommelier will be located close to excellent transportation connections, right next to the city center and close to the railway station. In addition to good transportation connections, there are comprehensive local services nearby," says Construction Manager Jaakko Ojala  from YIT.

Previously, YIT has implemented five previous properties in the same block; Asunto Oy Keittiömestari, Myllykatu 14, Pikkukokki, Myllykatu 10, and Picnik.

Learn more:
Vaasan Sommelier - Apartments for sale | YIT.fi

Further information:
YIT Group Communications, tel. +358 44 743 7536, press@yit.fi

We build and develop sustainable living environments: functional and comfortable real estate as homes, public and commercial buildings for future needs, infrastructure to promote the green transition, and industrial, production and energy facilities to support our customers' processes. YIT's vision is to be the most competent partner in the development of sustainable homes, facilities and cities - for a good life. The company employs around 4,100 professionals, and in 2024 our turnover was EUR 1.8 billion. YIT's shares are listed on Nasdaq Helsinki.

Learn more: https://www.yitgroup.com/en and follow us on LinkedIn I X I Instagram I Facebook

YIT has started the construction of the self-developed Asunto Oy Tampereen Sointu apartment building in Rauhaniemi, Tampere. A total of 55 homes will be built in the eight-story residential building. The value of the project is approximately EUR 16 million. The homes are slated for completion by the end of 2026.

The apartment building, located near Lake Näsijärvi, will have around 2,900 square meters of living space. The Tampereen Sointu apartments will range from 22 to 86 square meters in size, and residents may choose their new home from a variety of floor plans, ranging from studios to spacious three-room apartments. In the design of the Sointu homes, particular attention has been paid to functional layouts. Day-to-day living is also made that little bit easier by shared spaces for residents, such as a bike maintenance room and a working or hobby space with its own large terrace. Residents will also have access to storage facilities for outdoor equipment, prams and other equipment, a gym, and a drying room.

The building will be built in line with the A energy class requirements. Apartment-specific monitoring of cold and hot water consumption will help save water. During construction, only electricity generated with wind power will be used on the worksite and at least 75% of the waste generated on the worksite will be sorted for recycling. Parking spaces will be located in a shared parking area for the block and will be equipped with reservations for chargers for electric vehicles. For added comfort, the housing company will be smoke-free, which has also been recorded in its articles of association.

"It's great that we're able to launch a new YIT self-developed project in Tampere. While Sointu will be located in amid excellent outdoor and recreational opportunities, it will also be close to the services of the city center. The homes will offer beautiful views of different parts of Rauhaniemi - you can choose a view of a lush park area or open views over Lake Näsijärvi," says Regional Director Sami Viitanen from YIT.

Learn more:
Tampereen Sointu - apartments for sale | YIT.fi

Further information:
YIT Group Communications, tel. +358 44 743 7536, press@yit.fi

We build and develop sustainable living environments: functional and comfortable real estate as homes, public and commercial buildings for future needs, infrastructure to promote the green transition, and industrial, production and energy facilities to support our customers' processes. YIT's vision is to be the most competent partner in the development of sustainable homes, facilities and cities - for a good life. The company employs around 4,100 professionals, and in 2024 our turnover was EUR 1.8 billion. YIT's shares are listed on Nasdaq Helsinki.

Learn more: https://www.yitgroup.com/en and follow us on LinkedIn I X I Instagram I Facebook

YIT Corporation's financial reporting and Annual General Meeting in 2026

YIT will publish the Financial Statements Bulletin for 2025 on Friday, February 6, 2026. Financial Statements 2025 will be published during week 9/2026 at the latest.

In addition, YIT will publish two Interim Reports and a Half-Year Report in 2026 as follows:

• Interim Report for January-March on Tuesday, April 28, 2026
• Half-Year Report for January-June on Friday, July 24, 2026
• Interim Report for January-September on Friday, October 30, 2026

Prior to the publishing, YIT follows a so-called silent period that will begin on January 1, April 1, July 1 and October 1, and that will last until the publication of the respective financial report.

Annual General Meeting

YIT Corporation's Annual General Meeting will be held on Thursday, March 19, 2026. YIT's Board of Directors will summon the Meeting on a later date.

Possible requests from shareholders to put matters on the agenda of the 2026 Annual General Meeting shall be submitted no later than Wednesday, January 28, 2026. The written request shall be sent to YIT Corporation, Juha Jauhiainen, P.O. Box 36, FI-00621 Helsinki, Finland.

For further information:
Essi Nikitin, Vice President, Investor Relations, YIT Corporation, tel. +358 50 581 1455, essi.nikitin@yit.fi

YIT Corporation

Tuomas Mäkipeska
CFO

Distribution: Nasdaq Helsinki, major media, www.yitgroup.com

We build and develop sustainable living environments: functional and attractive homes, future-proof public and commercial buildings, infrastructure to support the green transition as well as industrial, production, and energy facilities to support our customers' processes. YIT's vision is to be the expert partner in developing sustainable homes, spaces, and cities - for a good life. There are approximately 4,100 professionals in our team and our revenue in 2024 was EUR 1.8 billion. YIT Corporation's shares are listed on Nasdaq Helsinki.

Read more: www.yitgroup.com and follow us on Linkedin I X I Instagram I Facebook

YIT's Interim Report January-September 2025

Q3 profit driven by the contracting segments, Residential CEE growth continues

Third quarter of 2025 in brief

• Order book amounted to EUR 2,929 million (30 Jun 2025: 2,961). At the end of the period, 75% of the order book was sold (30 Jun 2025: 77%).

• Revenue decreased to EUR 402 million (453).

• Adjusted operating profit decreased to EUR 12 million (26). Adjusted operating profit margin decreased to 2.9% (5.6).

• Both revenue and adjusted operating profit were impacted by low amount of consumer apartment completions in the residential segments during the quarter.

• Operating profit for the period decreased to EUR 9 million (13).

• Operating cash flow after investments decreased to EUR 0 million (2).

• Net interest-bearing debt decreased to EUR 669 million (789), and gearing improved to 85% (98) at the end of the period.

• In Residential Finland, adjusted operating profit decreased to EUR -1 million (5). Consumer apartment sales increased to 152 (126) apartments. Consumer apartment starts in the quarter increased to 224 (0). The number of unsold completed apartments decreased to 455 (30 Jun 2025: 587).

• In Residential CEE, adjusted operating profit decreased to EUR 1 million (8). Consumer apartment sales increased to 346 (251) apartments. Consumer apartment starts increased to 321 (57). The number of unsold completed apartments amounted to 194 (30 Jun 2025: 195).

• In Building Construction, adjusted operating profit increased to EUR 7 million (6).

• In Infrastructure, adjusted operating profit increased to EUR 7 million (5).

• Result for the period was EUR -10 million (-6).

• YIT narrows the range for the adjusted operating profit guidance for year 2025 as a result of stable financial performance of the businesses during the first nine months of the year. YIT now expects its Group adjusted operating profit for continuing operations to be EUR 40-60 million in 2025. Previously, YIT expected its Group adjusted operating profit for continuing operations to be EUR 30-60 million in 2025. 

January-September 2025 in brief

• Revenue decreased to EUR 1,200 million (1,299).

• Adjusted operating profit increased to EUR 29 million (18). The adjusted operating profit margin was 2.4% (1.4). The comparison period included an EUR -11 million change in the fair value of equity investments in the first quarter of 2024.

• Operating profit for the period increased to EUR 22 million (-37). Comparison period's operating profit was impacted by the transformation program costs and operations to be closed down.

• Operating cash flow after investments decreased to EUR -46 million (-4). The cash flow for the comparison period was supported by a net cash inflow of EUR 28 million from the sale of businesses.

• In Residential Finland, adjusted operating profit amounted to EUR -1 million (-8). Consumer apartment sales decreased to 393 (415) apartments. Consumer apartment starts increased to 358 (0).

• In Residential CEE, adjusted operating profit decreased to EUR 4 million (12). Consumer apartment sales increased to 960 (686) apartments. Consumer apartment starts increased to 1,515 (721).

• In Building Construction, adjusted operating profit increased to EUR 15 million (0). The comparison period included a EUR -10 million change in the fair value of segment's equity investments in the first quarter of 2024.

• In Infrastructure, adjusted operating profit increased to EUR 15 million (11).

• Result for the period was EUR -28 million (-73). Comparison period's result was impacted by the transformation program costs and operations to be closed down.

Unless otherwise noted, the figures in brackets in this report refer to the corresponding period in the previous year.

Key figures

Comments from the President and CEO, Heikki Vuorenmaa

"Our third quarter of 2025 progressed according to plan. Both our contracting segments delivered improved adjusted operating profit, and we announced several new projects that will strengthen our order book and market position. As anticipated, the low number of apartment completions during the quarter affected revenue and profitability in our residential segments. However, we continued to launch new residential projects in both Finland and the CEE region. These projects are expected to contribute positively to our revenue and profits from 2026 onwards, supporting our growth.

The strategic decision to increase resilience, diversify our geographical exposure and strengthen our residential platform in the Baltic and CEE countries has yielded clear benefits and is a key driver of our growth. These regions have become the principal market for our residential development and construction. As we execute our strategy, we expect this to strengthen even further.

Production volumes for the owner-occupied homes in the Residential CEE segment are currently at the same level as the historical peak years volumes of our Finnish residential business. By the end of the third quarter, we had launched new projects valued at nearly EUR 450 million with healthy margins, which are scheduled for completion in 2026. Our growth plan is supported by our strong plot portfolio enabling construction of approximately 14,000 homes corresponding to over EUR 3 billion sales value. The segment's productivity is constantly improving, which is reflected, among other things, in shorter lead-times. A good example is our first project in Krakow, which was completed ahead of schedule now in the third quarter of 2025.

According to the Confederation of Finnish Construction Industries' autumn economic review 2025, zero economic growth and weak consumer confidence are still hindering the recovery in the primary market in Finland. The primary apartment market is not expected to significantly recover in 2026, and production volumes are likely to remain lower than average. While macroeconomic developments are beyond our control, we are strongly committed to operating with a level of productivity that enables us to achieve our strategic targets, even in a lower-volume market. We continue to initiate new projects in locations where demand exists and remain focused on increasing our market share.

We continued to launch new self-developed residential projects in Finland during the third quarter. Customer expectations have changed, and the primary apartment market in Finland is currently consumer-driven. Our new product launches reflect the market change over the past three years, as the share of studios in the newly launched projects has significantly declined and average apartment sizes have increased. In addition, lead-time reductions and new designs enable us to price new production in a competitive market with a lower price level than before.

The infrastructure market in Finland is active in both the public and private sectors, driven by increased defense sector investments and positive developments in industrial construction and the renewable energy market. Over the past few months, we have successfully broadened our talent base within the Infrastructure segment. By recruiting diverse expertise across key areas, we have reinforced our team's capacity to meet increasing demand and support future growth. This ensures we are well-positioned to deliver on our commitments and capture emerging opportunities in the infrastructure market.

In the Building Construction segment, we have continued to win both public and private sector projects, supported by our core competencies and expertise. Activity in data center and industrial construction markets is supporting our strategic focus. Our recent wins in the data center field leverage our extensive experience and proven expertise in executing large-scale industrial projects. These projects further strengthen YIT's position as the leading builder of data centers in Finland.

Our customer satisfaction index NPS has continued to be at a high level for several quarters. Proactive and systematic customer engagement contributes to YIT's reputation and enables further understanding of customers, which is reflected in products and services provided across all four segments, as well as our strategic decisions. Recognizing customer needs enables us to differentiate from competitors and supports adaptation to market changes.

According to our recently completed comprehensive employee survey, the employee satisfaction measured by eNPS improved significantly to 37 (2024: 30). This indicates increased wellbeing and commitment - conditions that foster a good working environment and generate strong performance and productivity. This is a significant sign of trust from our employees that we are developing YIT in the right direction. I want to warmly thank our employees for their dedication and contribution. Our employees' efforts drive our success and enable us to build for the future together."

Results

July-September

YIT's order book amounted to EUR 2,929 million (30 Jun 2025: 2,961). At the end of the quarter, 75% of the order book was sold (30 Jun 2025: 77%).

YIT's revenue decreased from the comparison period to EUR 402 million (453). Revenue increased in Infrastructure and decreased in Residential Finland, Residential CEE and Building Construction.

Adjusted operating profit for the quarter decreased to EUR 12 million (26). Adjusted operating profit margin decreased to 2.9% (5.6). Adjusted operating profit decreased in Residential Finland and Residential CEE as a result of lower amount of consumer apartment completions. Adjusted operating profit increased in Building Construction and Infrastructure.

YIT's operating profit decreased to EUR 9 million (13). Adjusting items amounted to EUR 2 million in the third quarter (12). Net finance costs amounted to EUR 14 million (20). The result for the period was EUR -10 million (-6).

January-September

YIT's revenue decreased to EUR 1,200 million (1,299). Revenue increased in Infrastructure and decreased in Residential Finland, Residential CEE and Building Construction.

YIT's adjusted operating profit increased to EUR 29 million (18) and the adjusted operating profit margin increased to 2.4% (1.4). Adjusted operating profit increased in Residential Finland, Building Construction and Infrastructure and decreased in Residential CEE. The comparison period included an EUR -11 million change in the fair value of equity investments in the first quarter of 2024.

YIT's operating profit increased to EUR 22 million (-37). Adjusting items amounted to EUR 7 million (56). Adjusting items in the comparison period included costs of transformation program and operating profit from operations to be closed down. Net finance costs amounted to EUR 41 million (48). The result for the period amounted to EUR -28 million (-73). Earnings per share was EUR -0.14 (-0.34).

Guidance and outlook for 2025

YIT narrows the range for the adjusted operating profit guidance for year 2025 as a result of stable financial performance of the businesses during the first nine months of the year.

Revised guidance for 2025

YIT expects its Group adjusted operating profit for continuing operations to be EUR 40-60 million in 2025.

Previous guidance for 2025, issued on July 25, 2025

YIT expects its Group adjusted operating profit for continuing operations to be EUR 30-60 million in 2025.

Outlook for 2025

The residential market in the Baltic countries and Central Eastern Europe is expected to continue favorable, contributing positively to Residential CEE segment's capability to generate profit. Timing of the residential project completions may deviate from the original estimates leading to revenue and profit recognition shifting from one quarter or a year to another.

In Finland, the primary apartment market sales volumes are expected to slightly increase during 2025. In Residential Finland segment, low amount of completions during 2025 will limit the segment's capability to generate profit.

In Building Construction, the operational performance is expected to improve. Actions to release capital may have an impact on the segment's profit.

In Infrastructure, the operational performance is expected to remain stable.

Changes in the macroeconomic environment, especially in interest rates, may impact the residential market demand and the fair value of investments. The escalation of geopolitical risks reflected in general uncertainty and demand could have a negative impact on the company's financial position.

Webcast for investors and the media

A webcast in English and an international telephone conference will be arranged on October 30, 2025, at 10:00 a.m. EET.

The webcast can be followed at https://yit.events.inderes.com/q3-2025/register. A recording of the webcast will be available at the company's website after the event.

The teleconference can be accessed by registering at: https://events.inderes.com/yit/q3-2025/dial-in. After the registration, participants will be provided with phone numbers and a conference ID to access the conference. To ask a question, please dial *5 on your telephone keypad to enter the queue.

The event is targeted for investors, analysts, and the media. Welcome! 

For further information:
Essi Nikitin, Vice President, Investor Relations, YIT Corporation, tel. +358 50 581 1455, essi.nikitin@yit.fi

YIT Corporation

Tuomas Mäkipeska
CFO

Distribution: Nasdaq Helsinki, major media, www.yitgroup.com

We build and develop sustainable living environments: functional and attractive homes, future-proof public and commercial buildings, infrastructure to support the green transition as well as industrial, production, and energy facilities to support our customers' processes. YIT's vision is to be the expert partner in developing sustainable homes, spaces, and cities - for a good life. There are approximately 4,100 professionals in our team and our revenue in 2024 was EUR 1.8 billion. YIT Corporation's shares are listed on Nasdaq Helsinki.

Read more: www.yitgroup.com and follow us on Linkedin I X I Instagram I Facebook

Markus Pietikäinen, SVP, Treasury and M&A, at YIT has been appointed interim Chief Financial Officer and a member of the Group Leadership Team as of November 1, 2025. Tuomas Mäkipeska, CFO and member of the Group Leadership Team, has resigned from YIT to pursue his career outside YIT. He will leave the company in April 2026 at the latest.  

Markus Pietikäinen has served as SVP, Treasury and M&A at YIT since the beginning of 2024. He joined YIT from Finnfund, where he was the Chief Investment Officer. Prior to his position at Finnfund, Markus worked at Wärtsilä among others in business management positions and as Head of Group Treasury. 

"I warmly thank Tuomas for his contributions at YIT. Tuomas' expertise and commitment have been decisive in YIT's renewal of its strategy. On my own behalf and on behalf of YIT's Board of Directors, I wish him all the best for the future challenges. I am very happy that we have been able to work closely with Markus since the beginning of last year. He has played a key role in strengthening YIT's financial position," said Heikki Vuorenmaa, President and CEO of YIT.  

Aleksi Laine, EVP of YIT's Infrastructure segment, has been appointed Deputy to the President and CEO of YIT as of November 1, 2025.  

YIT has started the recruitment process for a permanent CFO.  

CV Markus Pietikäinen 
Born 1975 
M.Sc. (Economics) 

Key work experience and positions of trust:  
YIT Corporation, SVP, Treasury and M&A, 2024- 
Finnfund, Chief Investment Officer 2016-2023  
Noksel, Member of the Board 2017-2022 
Wärtsilä, several finance and business management positions, 2005-2016  
Finnfund, Member of the Board, 2012-2014 
JPMorgan Securities, positions in investment banking 2000-2005 

Further information: 
YIT Group Communications, tel. +358 44 743 7536, press@yit.fi

Distribution: NASDAQ Helsinki, major media, www.yitgroup.com

YIT Corporation 

Heikki Vuorenmaa 
President and CEO 

We build and develop sustainable living environments: functional and attractive homes, future-proof public and commercial buildings, infrastructure to support the green transition as well as industrial, production, and energy facilities to support our customers' processes. YIT's vision is to be the expert partner in developing sustainable homes, spaces, and cities - for a good life. There are approximately 4,100 professionals in our team and our revenue in 2024 was EUR 1.8 billion. YIT Corporation's shares are listed on Nasdaq Helsinki. 

Read more: www.yitgroup.com and follow us on Linkedin I X I Instagram I Facebook

Publishing of YIT Corporation's January-September 2025 Interim Report on October 30, 2025

YIT Corporation's Interim Report for January-September 2025 will be published on Thursday, October 30, 2025, at approximately 8:30 a.m. EET. The stock exchange release and the reporting materials in Finnish and in English will be available at that time on the company's website at www.yitgroup.com/investors.

A webcast in English and an international telephone conference will be arranged on October 30, 2025, at 10:00 a.m. EET. 

The webcast can be followed at https://yit.events.inderes.com/q3-2025/register. A recording of the webcast will be available at the company's website after the event.

The teleconference can be accessed by registering at: https://events.inderes.com/yit/q3-2025/dial-in. After the registration, participants will be provided with phone numbers and a conference ID to access the conference. To ask a question, please dial *5 on your telephone keypad to enter the queue.

The event is targeted for investors, analysts, and the media. Welcome! 

For further information:
Essi Nikitin, Vice President, Investor Relations, YIT, tel. +358 50 581 1455, essi.nikitin@yit.fi

Distribution: Nasdaq Helsinki, principal media, www.yitgroup.com

We build and develop sustainable living environments: functional and attractive homes, future-proof public and commercial buildings, infrastructure to support the green transition as well as industrial, production, and energy facilities to support our customers' processes. YIT's vision is to be the expert partner in developing sustainable homes, spaces, and cities - for a good life. There are approximately 4,100 professionals in our team and our revenue in 2024 was EUR 1.8 billion. YIT Corporation's shares are listed on Nasdaq Helsinki.

Read more: www.yitgroup.com and follow us on Linkedin I X I Instagram I Facebook

The project company behind the Kouvola data centre initiative, Hyperco Fin HoldCo 1 Oy, has selected YIT as the main contractor for the construction of the facility. The project encompasses approximately 28,000 square metres and includes a data centre building, office premises, and associated external technical areas and site works. 

"We are very pleased to be able to draw on Finnish construction expertise for the Kouvola project. Our cooperation with YIT strengthens the project's domestic content and boosts its employment impact both in the Kouvola region and more broadly across Finland. This partnership supports Hyperco's mission to develop sustainable, future-proof data infrastructure," said Aleksi Taipale, CEO of Hyperco. 

"We are delighted to launch this significant data centre project in close collaboration with the project company behind Hyperco's Kouvola initiative. The project promotes regional development and further enhances Finland's digital infrastructure," said Aleksi Laine, EVP, Infra segment at YIT. 

Under the agreement, YIT will leverage its extensive experience and proven expertise in executing large-scale industrial projects. The project further strengthens YIT's position as Finland's leading builder of data centres. 

The parties have agreed not to disclose the contract value. The project will be included in YIT's order book for the fourth quarter of 2025. Construction is set to begin at the end of October 2025, with completion scheduled for May 2027. 

For further information: 

YIT Corporate communications, tel. +358 44 743 7536, press@yit.fi

Distribution: Nasdaq Helsinki, major media, www.yitgroup.com  

We build and develop sustainable living environments: functional and attractive homes, future-proof public and commercial buildings, infrastructure to support the green transition as well as industrial, production, and energy facilities to support our customers' processes. YIT's vision is to be the expert partner in developing sustainable homes, spaces, and cities - for a good life. There are approximately 4,100 professionals in our team and our revenue in 2024 was EUR 1.8 billion. YIT Corporation's shares are listed on Nasdaq Helsinki. 

Read more: www.yitgroup.com and follow us on Linkedin I X I Instagram I Facebook

YIT has signed an agreement with the Czech housing cooperative Ranta Barrandov IV for the sale and construction of three residential buildings.

Under the agreement, YIT will build 69 cooperative housing units in Prague, which the housing cooperative will sell to its members. The apartments are part of the popular Ranta Barrandov development, where YIT has previously built homes sold on the open market. The value of the agreement is approximately EUR 25 million, and the project will be recorded in YIT's order book for the fourth quarter of 2025.

"The Barrandov project is an excellent example of how we are implementing our growth strategy in the Residential CEE segment. Through the housing cooperative model, we reach a new type of customer base, generate capital-efficient growth, and offer modern living in a sought-after area. We see strong demand for high-quality housing in Prague," said Justyna Filipczak, EVP, Residential CEE at YIT.

YIT's Residential CEE operations have firmly established themselves as YIT's principal market for residential development and construction. The segment's role in the business as a strong driver of growth and profitability is expected to strengthen as the strategy period progresses. YIT's robust land bank with building rights supports growth in the region, and the company is well-positioned to start new projects. By June 2025, YIT had launched new projects in Central Eastern Europe and the Baltics worth nearly EUR 400 million, scheduled for completion in 2026.

The Barrandov area in Prague offers a unique combination of urban convenience and natural tranquility. The buildings are connected by a central square with seating areas, fostering a sense of community and enhancing the overall character of the area.

For more information:

YIT Group Communications, tel. +358 44 743 7536, press@yit.fi

We build and develop sustainable living environments: functional and attractive homes, future-proof public and commercial buildings, infrastructure to support the green transition as well as industrial, production, and energy facilities to support our customers' processes. YIT's vision is to be the expert partner in developing sustainable homes, spaces, and cities - for a good life. There are approximately 4,100 professionals in our team and our revenue in 2024 was EUR 1.8 billion. YIT Corporation's shares are listed on Nasdaq Helsinki.

Read more: www.yitgroup.com and follow us on Linkedin I X I Instagram I Facebook

YIT has started the construction of a self-developed apartment building called Asunto Oy Espoon Vesta in the Marinranta block, in Kivenlahti, Espoo. A total of 30 homes will be built in the eight-story residential building. The value of the project is approximately EUR 15 million. The homes are slated for completion by the end of 2026.

The apartment building, located near the sea and the metro station, will house a living area of approximately 2,500 square meters. Espoo's Vesta apartments will be 59-148.5 square meters in size, and residents can select their new home from a variety of floor plans ranging from two to six rooms. In the Marinranta block, the shared spaces are also first class in quality. Residents will have access to the block's joint lounge space, a fitness facility, three saunas and a hotel-level guest room.

The house will be built in line with the A energy class requirements, and solar panels will be mounted on the roof to generate some of the energy required by the property. Apartment-specific monitoring of cold and hot water consumption will help save water. A carbon footprint calculation has been made for the project, helping in the choice of materials that burden the environment less during the construction phase. During construction, only electricity generated with wind power will be used on the worksite and at least 75% of the waste generated on the worksite will be sorted for recycling. Vesta's parking spaces will be built in a common parking garage in the area and have reservations for a charger for electric vehicles. For added comfort, the housing company will be smoke-free, which has also been recorded in its articles of association.

"It's great that we're able to launch a new YIT self-developed project in Espoo. Espoo's Vesta will be located along excellent transportation connections amid coastal landscapes, next to a marina. The 40 km long Espoo waterfront route with its cafés runs in front of the area, and the Kivenlahti beach is within walking distance. The hybrid arena Hype, with its services, is located nearby, and the local amenities will increase with the completion of the new Kivenlahti metro station business center," says Esa Turkka, a head of unit at YIT.

Previously, YIT has implemented seven sites in the same Marinranta area: Asunto Oy Neptus, Apollo, Selene, Helios, Kronos, Poseidon and Notos.

Learn more:
Vesta - Marinranta - YIT Home | YIT.fi

Further information:
YIT Group Communications, tel. +358 44 743 7536, press@yit.fi

We build and develop sustainable living environments: functional and comfortable real estate as homes, public and commercial buildings for future needs, infrastructure to promote the green transition, and industrial, production and energy facilities to support our customers' processes. YIT's vision is to be the most competent partner in the development of sustainable homes, facilities and cities - for a good life. The company employs around 4,100 professionals, and in 2024 our turnover was EUR 1.8 billion. YIT's shares are listed on Nasdaq Helsinki.

Learn more: www.yitgroup.com/fi and follow us on LinkedIn I X I Instagram I Facebook

YIT and eQ Community Properties have agreed with the City of Helsinki on construction of the Hermanninranta school, daycare center and youth center

YIT and eQ Community Properties Fund were selected as partners for the new building that will serve as the Hermanninranta school, daycare center, and youth facility, which will be utilized by the City of Helsinki in the meeting of the Urban Environment Committee's Building and General Areas Division on June 26, 2025; YIT as the property builder and eQ Community Properties Fund as the property owner and landlord.

YIT, the City of Helsinki, and eQ Community Properties Fund have signed a project agreement. The parties have agreed that the value of the project will not be published. The agreement will be recorded in YIT's order book when the project's building permission becomes legally effective, approximately in the summer of 2026.

YIT will build the property for eQ Community Properties Fund, and the premises will be designed as a learning environment to meet the needs of the building's user, the City of Helsinki. eQ Social Real Estate will lease the premises to the City of Helsinki for a period of 20 years.

The property will have five floors, with only technical facilities on the top floor. The building will be used by about 700 elementary school pupils, 224 children of early childhood education age and about 160 staff members. A youth center will also be built in connection with the school, which about 150 young people expected to visit it daily. The school gym will serve the residents of the area in the evenings.

The building will have a frame made primarily of wood, and wood will also be widely used on the interior surfaces of the structure. The scope of the property will be approximately 11,000 gross square meters of floor area and the building will be constructed to meet the requirements of the highest energy efficiency class A. Four stars are sought for the building in the Rakennustieto environmental classification. The Rakennustieto environmental classification is a tool suitable for Finnish conditions, which guides sustainable construction and property maintenance.

"The designers have created a nature-themed yard that extends to the rooftop and opens out onto the adjacent park. The spatial design of the building is innovative and the architecture is timeless. The combination of the geometric building and a lush courtyard also works from an urban design perspective-the result is very successful," said Project Director Mari Koskinen from the City of Helsinki.

"It is great that we are able to provide a versatile rental property for learning and early childhood education for the City of Helsinki in a rapidly growing area, which is also strategically very suitable for eQ Community Properties Fund. Working with a skilled contractor partner and talented designers, we developed a design solution that was appreciated by the city. Excellent cooperation with both the design team and the city during the bidding and contract negotiation phase also heralds a successful outcome for residents of Hermanninranta and the surrounding areas," says eQ's property development director Markus Salmela.

"We were aiming for high quality in the design, which is reflected, on the one hand, in modern, highly energy-efficient performance and solutions that reduce the carbon footprint, and on the other hand, in traditional façade materials that will stand the test of time. A multi-story solution was developed for the challenging construction site, in which the lush outdoor courtyard of the tall school building safely extends onto the rooftop yard area. The environment the building provides for learning and play is unique. Despite the height of the building, the spaces for young children and local residents were placed on easily accessible lower floors. The youth center is situated at street level in an inviting location," describes YIT's Design Manager Heikki Kurtti.

The design of the building to meet users' needs will continue in the autumn of 2025, and a building permission will be applied for in early 2026. The construction work is planned to start at the end of 2026, when the premises will be completed by autumn 2029.

For more information:
YIT Group Communications, tel. +358 44 743 7536, press@yit.fi

Distribution: NASDAQ Helsinki, major media, www.yitgroup.com/en

We build and develop sustainable living environments: functional and comfortable homes; public and commercial buildings for future needs; infrastructure to promote the green transition; and industrial, production and energy facilities to support our customers' processes. YIT's vision is to be the most competent partner in the development of sustainable homes, facilities and cities - for a good life. The company employs around 4 100 professionals, and in 2024 our turnover was EUR 1.8 billion. YIT's shares are listed on Nasdaq Helsinki.

Learn more: www.yitgroup.com/en and follow us on Linkedin I X I Instagram I Facebook

Professionals in the field of engineering have ranked YIT as the most ideal employer in the construction industry for the sixth consecutive year in the Universum Professionals Survey. Also among students, YIT has maintained its position as the most attractive employer in the industry for seven years already. 

"It is great that both professionals and students find YIT an attractive employer. Our success is based on skilled people, for whom we want to provide continuous development opportunities in a humane work community, supported by bold leadership and inspiring managerial work," said Jennie Haasmaa, EVP, People and Culture. 

At YIT, corporate culture is built on customer orientation, high performance, continuous learning, and human focus. These guide everyday life and lay the foundation for shared success. 

"We believe that our experts understand our customers' needs and create genuine added value for them. We offer diverse career paths and a community where everyone can thrive and shine in their own way," Haasmaa continued. 

On the basis of the annual personnel survey, YIT's personnel considers their work to be meaningful and is strongly committed to the organization. Employees especially appreciate a good relationship with their manager and colleagues, as well as the goals of their work and their achievement. 

YIT also invests in future talent. The YIT Path trainee program offers students hands-on experience alongside their studies. In 2024, YIT offered more than 350 young people summer jobs and trainee positions, and according to trainee feedback, 99% would recommend YIT as an employer and 98% would like to continue working at YIT. 

Links: 

YIT is the ideal construction industry employer for engineering students for the seventh consecutive year | YITGroup.com  

For more information: 
YIT Group Communications, tel. +358 44 743 7536, press@yit.fi

We build and develop sustainable living environments: functional and comfortable homes; public and commercial buildings for future needs; infrastructure to promote the green transition; and industrial, production and energy facilities to support our customers' processes. YIT's vision is to be the most competent partner in the development of sustainable homes, facilities and cities - for a good life. The company employs around 4 100 professionals, and in 2024 our turnover was EUR 1.8 billion. YIT's shares are listed on Nasdaq Helsinki. 

Learn more: www.yitgroup.com/en and follow us on Linkedin I X I Instagram I Facebook

Composition of YIT Corporation's Shareholders' Nomination Board

YIT Corporation's three largest shareholders according to Euroclear's shareholder register on 29 August 2025 and according to the principles of the standing order have had the right to nominate representatives to the Nomination Board. According to the mentioned standing order, a shareholder group can agree on appointing a joint representative to the Nomination Board. The following shareholders have agreed on appointing a joint representative: PNT Group Oy, Noora Pentti, Fideles Oy, Kristian Pentti, Kristina Pentti-von Walzel, Eva Pentti-Kortman and Heikki Pentti Estate.

YIT's three largest shareholders, that are entitled to nominate a representative to YIT Corporation's shareholder's nomination board, are Tercero Invest AB, the above-mentioned shareholder group, and Varma Mutual Pension Insurance Company. The following persons have been nominated as their representatives to YIT's Nomination Board:

• Alexander Ehrnrooth, CEO, Tercero Invest AB (18.53% of shares and votes).
• Kristina Pentti-von Walzel, CEO, Laponie Oy, the shareholder group PNT Group Oy, Noora Pentti, Fideles Oy, Kristian Pentti, Kristina Pentti-von Walzel, Eva Pentti-Kortman and Heikki Pentti Estate (16.71% of shares and votes).
• Risto Murto, President and CEO, Varma Mutual Pension Insurance Company (5.69% of shares and votes).

Alexander Ehrnrooth was elected the Chairperson of the Nomination Board. Jyri Luomakoski, the Chairperson of YIT Corporation's Board of Directors, participates in the Nomination Board's work as an expert member.

The Nomination Board prepares the proposals concerning Board members and Board compensation for the following General Meeting.

For further information:
Juha Jauhiainen, Corporate General Counsel, YIT Corporation, +358 40 725 9643, juha.jauhiainen@yit.fi

YIT Corporation

Tuomas Mäkipeska
CFO

Distribution: Nasdaq Helsinki, major media, www.yitgroup.com

We build and develop sustainable living environments: functional and attractive homes, future-proof public and commercial buildings, infrastructure to support the green transition as well as industrial, production, and energy facilities to support our customers' processes. YIT's vision is to be the expert partner in developing sustainable homes, spaces, and cities - for a good life. There are approximately 4,100 professionals in our team and our revenue in 2024 was EUR 1.8 billion. YIT Corporation's shares are listed on Nasdaq Helsinki.

Read more: www.yitgroup.com and follow us on Linkedin I X I Instagram I Facebook

YIT and VTK Kiinteistöt Oy signed an agreement for the development phase of Tikkurila's Competence Campus

YIT and VTK Kiinteistöt Oy have signed a collaboration agreement for the development phase of The educational block of the Tikkurila competence campus area in Vantaa. The project will be implemented as a collaborative project management contract, including the development phase. The estimated target budget for the project management contract, determined by the customer of the project aiming at the implementation phase after the development phase, is approximately EUR 78 million. The target and price ceiling, as well as the plans, will be revised during the development phase.

The educational institution block and it's multifunctional building that perfectly complements Tikkurila's center's functions will be implemented in Tikkurila's new Competence Campus area. At the beginning of the development phase, the property's area is approximately 28,000 gross square meters. When the facilities are completed, they will be used by approximately 2,700 students and about 300 staff members.

After the development phase, which is now starting, the goal is to move to the implementation phase of the project in the summer of 2026. The implementation phase will then last for about two and a half years. The project also includes earthworks and HVAC work.

The users of the Competence Campus area's educational block, the so-called Kortteli 1 building, are Vantaa Adult Education Centre, Vocational College Varia, Tikkurila Upper Secondary School, and Vantaa Music Institute.

The property will be connected to a network of existing buildings and properties planned for the area with a view to combining the activities taking place in the area into a densely built and communal shared-use campus complex.

Strict limit values have been set for the carbon footprint of Tikkurila's Competence Campus areas educational building, which will be achieved by choosing low-carbon solutions, materials, and operational methods. For example, green electricity will be used on the worksite, while electricity from renewable energy sources will be used for heating. The project's environmental plan includes measures to reduce emissions on the worksite. The Competence Campus will be built in accordance with the taxonomy, in an environmentally sustainable and adaptable manner. This ensures the long and flexible use of the building throughout its life cycle. A part of the EU's green transition, taxonomy is a classification system for sustainable finance, which aims, among other things, at mitigating climate change. The building's energy efficiency is significantly below the limits set in the national regulations for buildings intended for this use.

The development phase of Kortteli 1, one of the City of Vantaa's key projects, begins as planned. The objective of VTK Kiinteistöt Oy and YIT is to continue from the development phase to the implementation phase. It is positive for the project that YIT's project organization and the overall planning group led by architect office Lahdelma & Mahlamäki has experience of previous joint projects, also in the field of implementing learning environments. It is great that our exceptionally demanding Block 1 project will have experienced and competent project staff in accordance with previous expectations", said Construction Development Manager Jani Jokinen at VTK Kiinteistöt Oy.

"I am pleased that we are able to launch the development phase of Tikkurila's Competence Campus areas educational block and use our extensive experience in designing and developing learning environments. We will also utilize our extensive building services expertise to identify more cost-effective and sustainable solutions for our customer. The City of Vantaa is committed to the Ministry of the Environment's Green Deal for zero emission construction sites, which is aimed at reducing emissions generated by worksites' construction machinery and energy use and stopping the use of fossil fuels on worksites," says Matti Sarikkola, Vice President of the Private New Construction Unit at YIT.

Further information:
YIT Group Communications, tel. +358 44 743 7536, press@yit.fi

Distribution: NASDAQ Helsinki, major media, www.yitgroup.com/en

We build and develop sustainable living environments: functional and comfortable homes; public and commercial buildings for future needs; infrastructure to promote the green transition; and industrial, production and energy facilities to support our customers' processes. YIT's vision is to be the most competent partner in the development of sustainable homes, facilities and cities - for a good life. The company employs around 4,100 professionals, and in 2024 our turnover was EUR 1.8 billion. YIT's shares are listed on Nasdaq Helsinki.

Learn more: www.yitgroup.com/en and follow us on Linkedin I X I Instagram I Facebook

YIT and The Finnish Fair Corporation have signed an agreement on the construction of an expansion to Helsinki Expo and Convention Centre (Messukeskus) with an alliance model in Pasila, Helsinki. The total value of the contract for YIT is approximately EUR 15 million, and it will be recorded in the order book for the third  quarter of the year.

During the implementation phase of the Solar project, which is starting now, a new event space will be built at the south entrance of Messukeskus. The facades, steel frame and building technology play a central role in the construction project. The scope of the project is approximately 1,500 gross square meters. In addition, the existing entrance facilities will be renovated, and temporary entrances will be built.

A solar panel field is placed on the roof of the Solar event space. Sustainability is reflected in Solar's high-quality material choices and carefully selected, efficient energy solutions.

"When completed, Solar will be one of the most modern event spaces in the Nordic countries, combining distinctive architecture with the adaptability of the space and state-of-the-art technology. The construction project is one of the largest at Messukeskus in recent decades and complements our premises nicely. It also takes into account, for example, international congresses and corporate events that have a significant impact on income and employment in the Helsinki Metropolitan Area," said Anni Vepsäläinen, Managing Director of The Finnish Fair Corporation.

"It is great that we can continue our collaboration with The Finnish Fair Corporation with this project that is in line with our strategy. In our strategy, we want to take our customer experience to a new level. During the development phase of the Solar project, we worked with the client and the designers to ensure design solutions that are in line with the objectives and create a strong basis for achieving the targets set by the client for the project. We have previously carried out a renovation of the hotel property in connection with Messukeskus for Suomen Messut Oyj. Messukeskus is constantly developing, and it is great that we can be a part of this development," said Matti Sarikkola, Vice President of the Private New Construction Unit at YIT.

Construction work has begun on the internal foundation structures, and more broadly, the project will be visible in the cityscape in March 2026. The construction project will also include the renovation of the façade of the Messukeskus and the main entrance, which will be taken into use in the autumn of 2026. The operation of Messukeskus will continue uninterrupted throughout the construction period. The Solar project is due to be completed in the fall of 2027.

For more information:
YIT Group Communications, tel. +358 44 743 7536, press@yit.fi

We build and develop sustainable living environments: functional and comfortable homes; public and commercial buildings for future needs; infrastructure to promote the green transition; and industrial, production and energy facilities to support our customers' processes. YIT's vision is to be the most competent partner in the development of sustainable homes, facilities and cities - for a good life. The company employs around 4 100 professionals, and in 2024 our turnover was EUR 1.8 billion. YIT's shares are listed on Nasdaq Helsinki.

Learn more: www.yitgroup.com/en and follow us on Linkedin I X I Instagram I Facebook

YIT and one of the largest building and finishing materials trading companies in Lithuania JSC Lemora have signed a contract for construction of a warehouse for construction material storage purposes in Kaunas, Lithuania. The value of the contract for YIT is over EUR 13 million.

The scope of the project is approximately 15 000 square meters. The building will meet energy class A++ requirements. The construction works were started in August 2025, and the work is scheduled to be completed in September 2026.

For more information:
YIT Group Communications, tel. +358 44 743 7536, press@yit.fi
 
We build and develop sustainable living environments: functional and comfortable real estate as homes, public and commercial buildings for future needs, infrastructure to promote the green transition, and industrial, production and energy facilities to support our customers' processes. YIT's vision is to be the most competent partner in the development of sustainable homes, spaces and cities - for a good life. The company employs around 4 100 professionals, and in 2024 our turnover was EUR 1.8 billion. YIT's shares are listed on Nasdaq Helsinki.

Learn more: www.yitgroup.com/fi and follow us on LinkedIn I X I Instagram I Facebook

YIT and Asumisoikeus Oy Helsingin Hirsipadontie 10 have agreed on the construction of a right-of-occupancy housing project comprising two apartment buildings in Helsinki. The project will be implemented as a turnkey contract, in which the builder is also responsible for the design of the site. Construction work will begin in August 2025 and the project is expected to be completed in October 2026. The contract value for YIT is approximately 8 million.

Asumisoikeus Oy Helsingin Hirsipadontie 10 covers approximately 3,300 square meters of floor space. A total of 39 apartments will be built in two apartment buildings. The project is designed for energy class A and the houses are heated by geothermal heat. Low-carbon concrete is used in the frame and intermediate floors. The facades of the buildings have a wooden cladding and there is a green roof in the outdoor equipment storage.

"YIT is a reliable and high-quality builder and it is great to get to work together. The project represents a new type of urban living. At Hirsipadontie, we particularly focus on exercise, which is visible both in the housing company's own gym and outdoor sports equipment in the yard. As a form of residence, the right of residence allows for flexible living," said CEO Pasi Peltomäki from Asumisoikeus Oy Helsingin Hirsipadontie 10. 

"We won the competition organized by the customer in the winter of 2024. YIT has been responsible for the design of the site in its entirety, and it is a pleasure to be able to start the building phase of the project now," said Mikko Lempinen, Head of Unit for Residential in Uusimaa and Häme, YIT.

Further information:
YIT Group Communications, tel. +358 44 743 7536, press@yit.fi

We build and develop sustainable living environments: functional and attractive homes, future-proof public and commercial buildings, infrastructure to support the green transition as well as industrial, production, and energy facilities to support our customers' processes. YIT's vision is to be the expert partner in developing sustainable homes, spaces, and cities - for a good life. There are approximately 4,100 professionals in our team and our revenue in 2024 was EUR 1.8 billion. YIT Corporation's shares are listed on Nasdaq Helsinki.

Read more at www.yitgroup.com/en and follow us on LinkedIn I X I Instagram I Facebook

YIT is launching the development of block 697 of approximately 1.5 hectares in Vallila, Helsinki. The goal is to create a more versatile and significantly greener urban block that will serve as a pioneer in sustainable urban construction and circular economy in construction. The project will be carried out in close cooperation with the City of Helsinki and experts in various fields.

The block owned by YIT since 2020 is located in the area delimited by the Teollisuuskatu, Sturenkatu, Elimäenkatu, and Telekatu streets. A reference plan has been drawn up for the area, the aim of which is to enliven the Vallila area in accordance with the city's objectives. The plan is based on principles of resource wisdom and a comprehensive application of circular economy solutions-more extensively than in any previous Finnish project.

The starting point of the planning work is respect for the industrial history and identity of the area, combined with advanced urban development. The block will become a dense, much greener and more versatile entity where housing, work and leisure are intertwined into a vibrant urban space.

The oldest parts of the block, which have historical and scenic value, will be preserved and integrated into the new urban block. The existing building stock will be used for new purposes. Three comfortable courtyard areas are planned for the block, as well as a new pedestrian connection through the block from Teollisuuskatu to Elimäenkatu, which will be connected to the streets of the Vallila area. New public spaces are planned for the buildings' ground floors, which will promote communal and lively street space.

"The Vallila block is an opportunity for us to show that sustainable construction can be both ambitious and respectful of cultural history. We want to make this an industry-wide circular economy pilot project that will change the direction of urban development," said Juha Kostiainen, EVP, Urban Development & ESG at YIT.

Material flows within the block will follow circular economy principles. The aim is to recover and reuse as many building components as possible-such as hollow-core slabs, columns, beams, suspended ceilings, and interior glass walls-within the same block. In the plans, the green factor has been increased tenfold from the current level. An extensive ground-supported yard is planned to be built in the block, using largely recycled material from the project. Green structures and vegetation will promote carbon sequestration and biodiversity. The circulation of materials, stormwater, carbon and nutrients will be integrated as part of the whole. The block will be planted with multi-species vegetation, large-growing trees and meadow-like roof gardens.

"The Vallila block is a new type of pilot project in which we are developing a sustainable city in close cooperation with the City of Helsinki, architects and other experts. Cooperation between the project team and the city's experts has been crucial to make the block a truly new and sustainable example of urban development. We boldly try new things, learn as the project progresses, and openly share our successes and challenges," said YIT's Project Director Benjamin Kalliola.

"The Helsinki City Strategy has a strong ambition to accelerate low-emission or circular economy building solutions. The strategy also seeks to modernize the Vallila area in a way that combines the possibility of housing construction with the needs of commercial, industrial and cultural activities. This project offers an excellent opportunity to show how we can succeed in aligning these goals," said Rikhard Manninen, Director of Land Use at the City of Helsinki.

The land use planning process will progress in stages during 2025-2027, and the plan proposal is expected to be available in spring 2026. The final decision-making process will take place in 2027.

Further information:

YIT Group Communications, tel. +358 44 743 7536, press@yit.fi
City of Helsinki, Detailed Planning, Paula Leiwo, Architect, tel. +358 (9) 310 23637, paula.leiwo@hel.fi

We build and develop sustainable living environments: functional and attractive homes, future-proof public and commercial buildings, infrastructure to support the green transition as well as industrial, production, and energy facilities to support our customers' processes. YIT's vision is to be the expert partner in developing sustainable homes, spaces, and cities - for a good life. There are approximately 4,100 professionals in our team and our revenue in 2024 was EUR 1.8 billion. YIT Corporation's shares are listed on Nasdaq Helsinki. 

Read more at www.yitgroup.com/en and follow us on LinkedIn I X I Instagram I Facebook

The Finnish Transport Infrastructure Agency has awarded YIT the contract to construct a new railway bridge and track section in Syrjäsalmi, Kitee. The project will replace the existing bridge, completed in 1967, which has reached the end of its lifecycle. The new structure will improve safety and durability, with a total contract value of approximately EUR 15 million.

Construction is scheduled to begin in August 2025 and will continue until December 2026. The new bridge is expected to be commissioned by the end of 2026.

"The Syrjäsalmi railroad bridge is a demanding project and an example of how careful work planning, cooperation between different parties and extensive expertise enable safe construction in a demanding environment. At YIT, we are proud to be involved in the long-term development of the railway infrastructure in Finland," says Aleksi Laine, Director of YIT Infra Segment.

The construction site is located approximately 45 metres from the current bridge, which will be actively monitored throughout the project.

In addition to the bridge, the project includes a realignment of approximately four kilometres of railway track. The new line will be built west of the existing track, and at the intersections with the old embankment, both superstructures and substructures will be renewed. The scope also covers the demolition of the old Huvila underpass and the construction of a new one.

For further information:
YIT Corporate communications, tel. +358 44 743 7536, press@yit.fi

We build and develop sustainable living environments: functional and attractive homes, future-proof public and commercial buildings, infrastructure to support the green transition as well as industrial, production, and energy facilities to support our customers' processes. YIT's vision is to be the expert partner in developing sustainable homes, spaces, and cities - for a good life. There are approximately 4,100 professionals in our team and our revenue in 2024 was EUR 1.8 billion. YIT Corporation's shares are listed on Nasdaq Helsinki.

Read more: www.yitgroup.com and follow us on Linkedin I X I Instagram I Facebook

YIT and TK Säätiösijoitus Oy have signed a contract for the implementation of the Kulttuuriparkki parking facility in the eastern center of Turku, in the immediate vicinity of the music hall under construction Fuuga, the Turku City Theatre and the Government agency building. TK Säätiösijoitus Oy is an investor group consisting of Turku-based foundations, compiled by TK Asset Management Oy, a member of the Tuloskiinteistöt group. The project will be carried out as a design-build contract, where the developer will also be responsible for the planning of the site. The parties have agreed that the transaction value will not be published.

The scope of the project is approximately 7 000 square meters, and the building will have parking spaces for approximately 230 cars. The parking facility will have 20 charging points for electric cars when the building is completed, and the number of charging points can be expanded later if necessary.

"We are happy to be involved in developing the centre of Turku. For us, the Kulttuuriparkki is a significant project that combines technical know-how and responding to the needs of the area. The parking facility brings smoothness to everyday life and supports the operating prerequisites of the area's cultural services," said Jyrki Meri, YIT's Regional Director for Southwest Finland.

"Kulttuuriparkki is a long-awaited solution that responds to the growing need for parking and at the same time supports the development of the entire district. The project improves services and accessibility, especially in the surroundings of the music house, theatre and office building," said partner Kalle Hallanoro at TK Asset Management Oy.

The estimated start of the construction work is September 2025, and the work is due to be completed in the autumn of 2026. When the building is completed, the parking operator will be Aimo Park.

For more information:
YIT Group Communications, tel. +358 44 743 7536, press@yit.fi
 
We build and develop sustainable living environments: functional and comfortable real estate as homes, public and commercial buildings for future needs, infrastructure to promote the green transition, and industrial, production and energy facilities to support our customers' processes. YIT's vision is to be the most competent partner in the development of sustainable homes, spaces and cities - for a good life. The company employs around 4 100 professionals, and in 2024 our turnover was EUR 1.8 billion. YIT's shares are listed on Nasdaq Helsinki.

Learn more: www.yitgroup.com/fi and follow us on LinkedIn I X I Instagram I Facebook

YIT will start the construction work for the self-developed low-rise building project Asunto Oy Vantaan Seppä in the Ylästö low-rise area in Vantaa. Vantaan Seppä will include 16 homes, ranging from three-room to five-room apartments. The terraced houses will be two-storied and the semi-detached house will be one-storied. The value of the project is just under EUR 8 million. Construction will begin in August, and the homes are scheduled to be completed in the summer of 2026.

The living area will be approximately 1,400 square meters and the bright, spacious, and functional homes will range from 74.5 to 105 square meters. Each apartment will have a private yard, a covered terrace, and a cold storage room right next to the entrance of the apartment. Storage space will also be available in the semi-heated residential storage room in the outbuilding. The terraced apartments will also have a balcony. The project includes a carport for 12 cars and yard parking spaces for eight cars.

The houses will be built to meet energy class A standards. They will feature geothermal heating and solar panels that will generate electricity for the common needs of the housing company. Finnish wood will be used in the construction of the low-rise buildings. The facade elements will be manufactured at YIT's factory in Hämeenlinna. During construction, only renewable electricity will be used on the worksite and at least 75% of the waste generated on the worksite will be sorted for recycling. In selecting plants for the yard, emphasis has been placed on supporting biodiversity. All parking spaces will be equipped with electric vehicle charging infrastructure. Residents can order a charging device as an alteration.

"We are pleased to launch YIT's new self-developed low-rise building project in Vantaa. There is a demand for new high-quality homes in Vantaa. The nearby nature, great opportunities for outdoor recreation, and the idyllic village-like surroundings with winding streets create a great atmosphere in the area," said Mikko Lempinen, VP, Housing, Uusimaa and Häme at YIT.

Learn more:
Vantaan Seppä - terraced houses for sale | YIT.fi

For more information:
YIT Group Communications, tel. +358 44 743 7536, press@yit.fi 

We build and develop sustainable living environments: functional and comfortable real estate as homes, public and commercial buildings for future needs, infrastructure to promote the green transition, and industrial, production and energy facilities to support our customers' processes. YIT's vision is to be the most competent partner in the development of sustainable homes, facilities and cities - for a good life. The company employs around 4,100 professionals, and in 2024 our turnover was EUR 1.8 billion. YIT's shares are listed on Nasdaq Helsinki.

Learn more: www.yitgroup.com/en and follow us on LinkedIn I X I Instagram I Facebook

YIT and XTX Markets have signed a new agreement to begin construction of a second data center in Kajaani, Finland, as part of the algorithmic trading firm's large data center complex. The project includes delivering the shell and core of the new facility, further strengthening Kajaani's position as a growing data center ecosystem. The parties have agreed not to disclose the value of the agreement. 

 XTX Markets is a leading algorithmic trading firm which uses state-of-the-art machine learning technology to produce price forecasts for over 50,000 financial instruments. 

 The company selected Kajaani to construct a state-of-the-art data center complex to future-proof its significant computational capabilities. In December 2024, YIT announced its agreement to build XTX Markets' first data center in Kajaani. 

 "We are very pleased to continue our collaboration with XTX Markets. The first data center project has progressed smoothly, showcasing our strong project management capabilities and technical expertise. YIT has extensive experience in delivering large-scale industrial construction projects across Finland," said Aleksi Laine, EVP of YIT's Infrastructure segment. 

Mike Irwin, Chief Operating Officer, XTX Markets, said, "We are pleased to move forward to the next phase of our data center development with YIT, as construction begins on the shell and core of our second facility in Kajaani. This milestone reflects both the strength of our partnership and the successful progress of our broader data center strategy. However, our longer-term investment roadmap remains under review due to the proposed changes in electricity taxation. We hope that increased clarity and certainty on this matter will enable us to confidently proceed with future phases and further deepen our collaboration with multiple Finnish partners, including YIT." 

For further information:

YIT's Corporate communications, tel. +358 44 743 7536, press@yit.fi

XTX Markets, Richard Hillary, richard.hillary@xtxmarkets.com

Distribution: Nasdaq Helsinki, major media, www.yitgroup.com

We build and develop sustainable living environments: functional and attractive homes, future-proof public and commercial buildings, infrastructure to support the green transition as well as industrial, production, and energy facilities to support our customers' processes. YIT's vision is to be the expert partner in developing sustainable homes, spaces, and cities - for a good life. There are approximately 4,100 professionals in our team and our revenue in 2024 was EUR 1.8 billion. YIT Corporation's shares are listed on Nasdaq Helsinki.

Read more: www.yitgroup.com and follow us on Linkedin I X I Instagram I Facebook

YIT is starting the construction of a self-developed apartment building project called Asunto Oy Keravan Tähkiö in the center of Kerava. The seven-storey residential building will have 35 homes. The value of the project is just under EUR 10 million. Construction will begin in August and the building is scheduled for completion during summer 2026.

The apartment building's location is the best in Kerava. It has approximately 2,100 square meters of living space. Keravan Tähkiö's apartments will range from 28 to 101.5 square meters in size, and residents may choose their new home from a variety of floor plans, ranging from studios to four-room apartments.

The building will be built to meet the A energy class requirements. Its heating and summer cooling will be carried out with geothermal heat, and solar panels will be installed on the roof to generate some of the electricity used in the building. Apartment-specific monitoring of cold and hot water consumption will help save water. A carbon footprint calculation has been made for the project and, during the design phase, it enabled the choice of materials and solutions that put less burden on the environment. During construction, only renewable electricity will be used on the construction site and at least 75% of the waste generated on the site will be sorted for recycling.

Keravan Tähkiö residents will have 21 parking spaces in the block's shared parking building. All parking spaces in the car park are equipped for electric vehicle charging points. Before the completion of the block's car park building, YIT will arrange temporary parking for residents in the neighboring plot.

"It's great that we're able to launch a new YIT self-developed project in Kerava. There's demand for new high-quality homes in Kerava, and Tähkiö's pre-marketing quickly attracted a lot of interest. So we are able to launch the construction project quickly. Keravan Tähkiö is located in the heart of Kerava, within walking distance of everything, and recreational facilities, cafes, schools and health services will be right on the doorstep," says Mikko Lempinen, VP, Housing, Uusimaa and Häme, from YIT.

Learn more:
Keravan Tähkiö - apartments for sale | YIT.fi

For more information:
YIT Group Communications, tel. +358 44 743 7536, press@yit.fi

We build and develop sustainable living environments: functional and comfortable homes; public and commercial buildings for future needs; infrastructure to promote the green transition; and industrial, production and energy facilities to support our customers' processes. YIT's vision is to be the most competent partner in the development of sustainable homes, facilities and cities - for a good life. The company employs around 4 100 professionals, and in 2024 our turnover was EUR 1.8 billion. YIT's shares are listed on Nasdaq Helsinki.

Learn more: www.yitgroup.com/en and follow us on Linkedin I X I Instagram I Facebook

YIT's Half-Year Report January-June 2025

Adjusted operating profit improved in Q2, production accelerated in Residential CEE to meet the market demand

Second quarter of 2025 in brief

• Order book amounted to EUR 2,961 million (31 Mar 2025: 3,026). At the end of the period, 77% of the order book was sold (31 Mar 2025: 77%).

• Revenue decreased to EUR 412 million (434), primarily impacted by zero apartment completions in the residential segments in the second quarter.

• Adjusted operating profit increased to EUR 10 million (7). Adjusted operating profit margin increased to 2.4% (1.6).

• Operating profit for the period increased to EUR 7 million (-42). Comparison period's operating profit was impacted by the transformation program costs and operations to be closed down.

• Operating cash flow after investments decreased to EUR -29 million (-6).

• Net interest-bearing debt decreased to EUR 670 million (788), and gearing decreased to 84% (97) at the end of the period.

• In Residential Finland, adjusted operating profit increased to EUR 2 million (-6). Consumer apartment sales decreased to 133 (154) apartments. Consumer apartment starts in the quarter increased to 51 (0). The number of unsold completed apartments decreased to 587 (31 Mar 2025: 682).

• In Residential CEE, adjusted operating profit decreased to EUR -2 million (2). Consumer apartment sales increased to 279 (198) apartments. Consumer apartment starts increased to 648 (186). The number of unsold completed apartments decreased to 195 (31 Mar 2025: 273).

• In Building Construction, adjusted operating profit increased to EUR 6 million (5).

• In Infrastructure, adjusted operating profit decreased to EUR 5 million (6).

• Result for the period was EUR -8 million (-51). Comparison period's result was impacted by the transformation program costs and operations to be closed down.

• YIT announced in May 2025 the successful issuance of new EUR 100 million hybrid bond and tendering of EUR 53,940,000 of its old EUR 100 million hybrid bond issued in 2021.

• YIT announced in May 2025, that Justyna Filipczak has been appointed as Executive Vice President, Residential CEE segment and member of the YIT Leadership Team starting August 4, 2025.

• YIT narrows the range for the adjusted operating profit guidance for year 2025 as a result of solid financial performance of the businesses during the first half of the year. YIT now expects its Group adjusted operating profit for continuing operations to be EUR 30-60 million in 2025. Previously, YIT expected its Group adjusted operating profit for continuing operations to be EUR 20-60 million in 2025.

January-June 2025 in brief

• Revenue decreased to EUR 798 million (846).

• Adjusted operating profit increased to EUR 17 million (-7). The adjusted operating profit margin was 2.2% (-0.9). The comparison period included an EUR -11 million change in the fair value of equity investments in the first quarter of 2024.

• Operating profit for the period increased to EUR 13 million (-51). Comparison period's operating profit was impacted by the transformation program costs and operations to be closed down.

• Operating cash flow after investments decreased to EUR -45 million (-6).

• In Residential Finland, adjusted operating profit amounted to EUR 0 million (-13). Consumer apartment sales decreased to 241 (289) apartments. Consumer apartment starts increased to 134 (0).

• In Residential CEE, adjusted operating profit decreased to EUR 3 million (4). Consumer apartment sales increased to 614 (435) apartments. Consumer apartment starts increased to 1,194 (664).

• In Building Construction, adjusted operating profit increased to EUR 8 million (-6). The comparison period included a EUR -10 million change in the fair value of segment's equity investments in the first quarter of 2024.

• In Infrastructure, adjusted operating profit increased to EUR 8 million (6).

• Result for the period was EUR -18 million (-67). Comparison period's result was impacted by the transformation program costs and operations to be closed down.

Unless otherwise noted, the figures in brackets in this report refer to the corresponding period in the previous year.

Key figures

Comments from the President and CEO, Heikki Vuorenmaa

"Our operational performance continued to improve in the second quarter of the year. Execution of our strategy is progressing well, supporting the improvement of the Group's financial performance. While our profitability improved, the revenue continued to decline. The six-month gap in apartment completions across both our residential segments is impacting revenue and profit generation. We can therefore expect the revenue and profit generation in the third quarter to reflect similar limitations. At the same time, we are launching new residential projects with good reservation and sales rates. These project starts will support our financial performance in 2026.

Demand continued to be favorable in the Residential CEE segment, with consumer apartment sales increasing by over 40% from the previous year in the first half of 2025. We have launched new projects valued at nearly EUR 400 million with healthy margins, which are scheduled to be completed in 2026. Our strong portfolio of plots with existing building rights supports the growth in Central Eastern Europe, and we are prepared to start new projects. Demand and supply have remained balanced, and the inventory is at a desired level. This year, completions in the segment will be heavily concentrated into the fourth quarter of the year. Recognizing profit at completion will thus make the profit generation backend-loaded in the segment in 2025.

The recovery of the Finnish residential market has progressed gradually, in line with our expectations. The secondary market is gaining momentum, and mortgage drawdowns increased by 18% in January-May 2025 according to the Bank of Finland statistics. We have also observed increased activity in the investor market, with new capital flowing into the sector. We anticipate that primary apartment market sales volumes will slightly increase during 2025. A decrease in interest rates and increased consumers' purchasing power have a positive impact on demand.

Operational efficiency in the Residential Finland segment has improved, and the sales mix was favorable in the first half of the year. We have initiated new self-developed projects in locations where the demand supports the starts and plan to continue with project starts as the year progresses. Our stock of completed apartments has reached normal levels outside the capital area. The excess stock in the capital region is gradually decreasing.

Accelerating production in the Residential CEE segment has not required significant amount of new capital. This is attributed to our strong existing plot portfolio enabling the construction of over 13,000 new homes. On a Group level, we identify potential to release approximately EUR 200 million of capital from our current apartment inventory. In addition, we identify potential to release up to EUR 300 million through divestments of non-core assets, in line with our current strategy. The released capital will be reallocated to support the growth of residential construction in European markets where we identify the strongest demand and value creation potential.

The infrastructure market in Finland is active in both the public and private sectors, driven by increased defense sector investments and positive developments in industrial construction and the renewable energy market. Our Infrastructure segment continued its solid performance, improving both revenue and profit in the first half of the year. The segment is well positioned to pursue growth and further enhance operational efficiencies.

The Building Construction segment has continued to improve its profitability. Despite the highly competitive market, we have continued to win both public and private sector projects, supported by our core competencies and expertise. Activity in data centers and industrial projects is increasing, in line with our strategic focus. Our ability to successfully execute these complex projects gives us a competitive advantage in the market. The segment's performance is developing positively, and our efforts continue.

The market outlook for our businesses looks favorable on many fronts. The investment plans within our operating countries in the industrial construction, energy and defense sectors are substantial and are likely to create opportunities for both of our contracting segments. At the same time, global turbulence and uncertainty is affecting consumer confidence and is also likely to bring uncertainty into companies' decision-making in relation to investments.

We have been chosen as the number one employer for students and professionals in the construction industry in Finland for several years, with the latest recognition coming from Universum in June 2025. We offer trainee positions to hundreds of young people each year. We are proud to provide our trainees with an excellent training experience and to help them advance in their career by offering continuous learning opportunities, guidance and feedback. Our success is built on our versatile and skilled professionals. We have succeeded in strategic recruitments that support growth, while maintaining our core competencies through challenging years. This will strengthen our performance as we steer the business onto a selective growth path and help us further improve the customer experience."

Results

April-June

YIT's order book amounted to EUR 2,961 million (31 Mar 2025: 3,026). At the end of the quarter, 77% of the order book was sold (31 Mar 2025: 77%).

YIT's revenue decreased from the comparison period to EUR 412 million (434). Revenue increased in Infrastructure and decreased in Residential Finland, Residential CEE and Building Construction.

Adjusted operating profit for the quarter increased to EUR 10 million (7). Adjusted operating profit margin increased to 2.4% (1.6). Adjusted operating profit increased in Residential Finland and Building Construction and decreased in Residential CEE and Infrastructure.

YIT's operating profit increased to EUR 7 million (-42). Adjusting items amounted to EUR 3 million in the second quarter (49). Adjusting items in the comparison period included costs of transformation program and operating profit from operations to be closed down in Sweden. Net finance costs amounted to EUR 13 million (15). The result for the period was EUR -8 million (-51).

January-June

YIT's revenue decreased to EUR 798 million (846). Revenue increased in Residential CEE and Infrastructure and decreased in Residential Finland and Building Construction.

YIT's adjusted operating profit increased to EUR 17 million (-7) and the adjusted operating profit margin increased to 2.2% (-0.9). Adjusted operating profit increased in Residential Finland, Building Construction and Infrastructure and decreased in Residential CEE. The comparison period included an EUR -11 million change in the fair value of equity investments in the first quarter of 2024.

YIT's operating profit increased to EUR 13 million (-51). Adjusting items amounted to EUR 5 million (43). Adjusting items in the comparison period included costs of transformation program and operating profit from operations to be closed down. Net finance costs amounted to EUR 27 million (29). The result for the period amounted to EUR -18 million (-67). Earnings per share was EUR -0.09 (-0.31).

Guidance and outlook for 2025

YIT narrows the range for the adjusted operating profit guidance for year 2025 as a result of solid financial performance of the businesses during the first half of the year.

New guidance for 2025

YIT expects its Group adjusted operating profit for continuing operations to be EUR 30-60 million in 2025.

Previous guidance for 2025, issued on February 7, 2025

YIT expects its Group adjusted operating profit for continuing operations to be EUR 20-60 million in 2025.

Outlook for 2025

The residential market in the Baltic countries and Central Eastern Europe is expected to continue favorable, contributing positively to Residential CEE segment's capability to generate profit. Timing of the residential project completions may deviate from the original estimates leading to revenue and profit recognition shifting from one quarter or a year to another.

In Finland, the primary apartment market sales volumes are expected to slightly increase during 2025. In Residential Finland segment, low amount of completions during 2025 will limit the segment's capability to generate profit.

In Building Construction, the operational performance is expected to improve. Actions to release capital may have an impact on the segment's profit.

In Infrastructure, the operational performance is expected to remain stable.

Changes in the macroeconomic environment, especially in interest rates, may impact the residential market demand and the fair value of investments. The escalation of geopolitical risks reflected in general uncertainty and demand could have a negative impact on the company's financial position.

Webcast for investors and the media

A webcast in English and an international telephone conference will be arranged on July 25, 2025, at 10:00 a.m. EEST. The results will be presented by Heikki Vuorenmaa, President and CEO of YIT Corporation, and CFO Tuomas Mäkipeska.

The webcast can be followed at https://yit.events.inderes.com/q2-2025/. A recording of the webcast will be available at the company's website after the event.

The teleconference can be accessed by registering at: https://palvelu.flik.fi/teleconference/?id=50051806. After the registration, participants will be provided with phone numbers and a conference ID to access the conference. To ask a question, please dial *5 on your telephone keypad to enter the queue.

The event is targeted for investors, analysts, and the media. Welcome! 

For further information:
Essi Nikitin, Vice President, Investor Relations, YIT Corporation, tel. +358 50 581 1455, essi.nikitin@yit.fi

YIT Corporation

Tuomas Mäkipeska
CFO

Distribution: Nasdaq Helsinki, major media, www.yitgroup.com

We build and develop sustainable living environments: functional and attractive homes, future-proof public and commercial buildings, infrastructure to support the green transition as well as industrial, production, and energy facilities to support our customers' processes. YIT's vision is to be the expert partner in developing sustainable homes, spaces, and cities - for a good life. There are approximately 4,100 professionals in our team and our revenue in 2024 was EUR 1.8 billion. YIT Corporation's shares are listed on Nasdaq Helsinki.

Read more: www.yitgroup.com and follow us on Linkedin I X I Instagram I Facebook

Publishing of YIT Corporation's January-June 2025 Half-Year Report on July 25, 2025

YIT Corporation's Half-Year Report for January-June 2025 will be published on Friday, July 25, 2025, at approximately 8:30 a.m. EEST. The stock exchange release and the reporting materials in Finnish and in English will be available at that time on the company's website at www.yitgroup.com/investors.

A webcast in English and an international telephone conference will be arranged on July 25, 2025, at 10:00 a.m. EEST. The results will be presented by Heikki Vuorenmaa, President and CEO of YIT Corporation, and CFO Tuomas Mäkipeska. 

The webcast can be followed at https://yit.events.inderes.com/q2-2025/. A recording of the webcast will be available at the company's website after the event.

The teleconference can be accessed by registering at: https://palvelu.flik.fi/teleconference/?id=50051806. After the registration, participants will be provided with phone numbers and a conference ID to access the conference. To ask a question, please dial *5 on your telephone keypad to enter the queue.

The event is targeted for investors, analysts, and the media. Welcome! 

For further information:
Essi Nikitin, Vice President, Investor Relations, YIT, tel. +358 50 581 1455, essi.nikitin@yit.fi

Distribution: Nasdaq Helsinki, principal media, www.yitgroup.com

We build and develop sustainable living environments: functional and attractive homes, future-proof public and commercial buildings, infrastructure to support the green transition as well as industrial, production, and energy facilities to support our customers' processes. YIT's vision is to be the expert partner in developing sustainable homes, spaces, and cities - for a good life. There are approximately 4,100 professionals in our team and our revenue in 2024 was EUR 1.8 billion. YIT Corporation's shares are listed on Nasdaq Helsinki.  

Read more: www.yitgroup.com and follow us on Linkedin I X I Instagram I Facebook

YIT is launching the construction of a self-developed residential project, Asunto Oy Helsingin Taikalyhty, in the Hermanni district of Helsinki. The project will consist of three six-storey apartment buildings, offering a total of 52 new homes. The value of the project is approximately EUR 21 million. Construction will begin in August, and the site is expected to be completed by the end of 2026. 

The Taikalyhty buildings will provide around 3,400 square metres of living space. Apartment sizes range from 33 to 96.5 square metres, with a variety of floor plans available, from studios to spacious family homes. Large windows are positioned to maximise natural light in each apartment. 

Residents of Taikalyhty will enjoy high-quality shared spaces, including a rooftop landscape sauna in building A with a glazed balcony for cooling off, and a lounge-style club room with access to a rooftop terrace. Everyday living is made easier with thoughtfully designed shared facilities, including a laundry room, drying areas, storage for outdoor gear and prams, and a bicycle maintenance room equipped with a wash station, perfect for cleaning strollers or even muddy paws. 

The project is designed in accordance with the EU taxonomy and meets energy class A standards. Heating and summer cooling will be provided by geothermal energy. Apartment-specific monitoring of hot and cold water consumption supports water conservation. A carbon footprint calculation was carried out during the design phase to guide the selection of environmentally friendly materials and solutions. During construction, only renewable electricity will be used, and at least 75% of construction waste will be sorted for recycling. 

"We're delighted to launch a new YIT self-developed project in Helsinki. There is clear demand for high-quality new homes in the city. Taikalyhty is located close to the excellent services and transport connections of Kalasatama," says Esa Turkka, Vice President of YIT Residential, Helsinki Metropolitan Area unit. 

"In Taikalyhty, special attention has been paid to the functionality of the apartments. All homes offer clearly defined spaces for different activities. Even studio apartments have distinct areas for cooking, relaxing and sleeping. Storage solutions such as kitchen cabinets, wardrobes and closets are scaled to the size of each apartment to ensure sufficient space for every resident," Turkka adds. 

The three lush courtyards of Taikalyhty offer spaces for relaxation, play and peaceful moments. Plant selections have been made with biodiversity, sustainability and ease of maintenance in mind. 

Read more: Apartments for sale in Helsinki, Hermanni - Helsingin Taikalyhty - YIT | YIT.fi

For more information: 

YIT Group Communications, tel. +358 44 743 7536, press@yit.fi

We build and develop sustainable living environments: functional and comfortable real estate as homes, public and commercial buildings for future needs, infrastructure to promote the green transition, and industrial, production and energy facilities to support our customers' processes. YIT's vision is to be the most competent partner in the development of sustainable homes, facilities and cities - for a good life. The company employs around 4 100 professionals, and in 2024 our turnover was EUR 1.8 billion. YIT's shares are listed on Nasdaq Helsinki. 

Learn more: www.yitgroup.com/fi and follow us on LinkedIn I X I Instagram I Facebook

YIT has been selected by Port of Helsinki Ltd to carry out the field extension at the southern tip of the West Harbour, a key initiative within the City of Helsinki's long-term port renewal programme. The project supports the strategic goal of consolidating all Tallinn-bound traffic at the West Harbour in Jätkäsaari.

The contract, valued at approximately EUR 27.6 million, will be included in YIT's second-quarter order backlog.

The southern tip field extension plays a central role in the comprehensive redevelopment of the West Harbour, which includes a new terminal and harbour tunnel that will reorganize quay and field areas. While the berths for Tallink and Eckerö Line vessels will remain unchanged, the project will introduce a new quay field through sea-fill construction to the south.

The scope of the contract includes dismantling existing structures, dredging, land reclamation, fabrication and installation of quay elements, and the implementation of technical systems and surface infrastructure.

"We are pleased to have been chosen for this important project," said Aleksi Laine, SVP of YIT's Infra segment. "This expansion is a vital part of the Port of Helsinki's development programme and will help future-proof its operations. We look forward to working closely with the Port of Helsinki and are committed to delivering the project safely and with high quality, while ensuring uninterrupted port operations."

"The southern tip expansion marks the first phase of the West Harbour transformation," added Kaj Takolander, Head of Passenger Business at Port of Helsinki Ltd. "It will streamline ship traffic, increase capacity for growing passenger and freight volumes, and prepare the port for electrified vessel operations-enhancing reliability and competitiveness for years to come."

Construction is scheduled to begin in summer 2025 and continue through autumn 2027. Port operations will remain uninterrupted throughout the project, which will be executed in close collaboration with other port stakeholders, with special attention to safety, environmental impact, and traffic continuity.

For further information:

YIT Corporate communications, tel. +358 44 743 7536, press@yit.fi

Distribution: Nasdaq Helsinki, major media, www.yitgroup.com

We build and develop sustainable living environments: functional and attractive homes, future-proof public and commercial buildings, infrastructure to support the green transition as well as industrial, production, and energy facilities to support our customers' processes. YIT's vision is to be the expert partner in developing sustainable homes, spaces, and cities - for a good life. There are approximately 4,100 professionals in our team and our revenue in 2024 was EUR 1.8 billion. YIT Corporation's shares are listed on Nasdaq Helsinki.

Read more: www.yitgroup.com and follow us on Linkedin I X I Instagram I Facebook

YIT and A-Kruunu have agreed on the construction of rental apartments subsidized with a long-term interest subsidy in the center of Jyväskylä. A-Kruunu is a state-owned special assignment company that builds affordable rental housing. The earthworks will start in August 2025, and the project is slated for completion in December 2026. The total value of the contract for YIT is approximately EUR 13 million, and it will be recorded in the order book for the second quarter of the year.

Kiinteistö Oy Jyväskylä Kauppakulman D covers approximately 4,000 square meters of floor space. The project is designed in accordance with the requirements of energy class A. The apartments to be built for A-Kruunu are part of the Kauppakulma regional project.

"The excellent location of Vapaudenkatu in the city center will surely interest future applicants. Residents increasingly value the proximity of services and good transport connections. Downtown living also makes it possible to live without a car, which is also becoming increasingly popular, especially among young residents. It is great that with this project we can continue our excellent cooperation with YIT in Jyväskylä," said Jari Mäkimattila, CEO of A-Kruunu.

"We are currently building an apartment building for A-Kruunu in the Kangas area of Jyväskylä, which will be completed at the beginning of next year. It is great to be able to continue our collaboration with this new apartment building. YIT and A-Kruunu have enjoyed excellent, long-term collaboration in several projects around Finland. The center of Jyväskylä provides an excellent setting for modern living near amenities and good transport connections," says Marjaana Nissilä-Ryytty, Regional Director of YIT.

Read more about living areas in Jyväskylä:
Apartments for sale in Jyväskylä | YIT.fi

For more information:
YIT Group Communications, tel. +358 44 743 7536, press@yit.fi

We build and develop sustainable living environments: functional and comfortable real estate as homes, public and commercial buildings for future needs, infrastructure to promote the green transition, and industrial, production and energy facilities to support our customers' processes. YIT's vision is to be the most competent partner in the development of sustainable homes, facilities and cities - for a good life. The company employs around 4 100 professionals, and in 2024 our turnover was EUR 1.8 billion. YIT's shares are listed on Nasdaq Helsinki.

Learn more: www.yitgroup.com/fi and follow us on LinkedIn I X I Instagram I Facebook

Helsinki Region Environmental Services Authority HSY has awarded YIT Infra Oy the contract to construct the Esplanadi water supply tunnel. The contract, valued at EUR 18 million, is scheduled to be signed in mid-August.

The tunnel will be located in the Kaartinkaupunki and Kamppi districts of Helsinki, running between Esplanadi Park and the Munkkisaari-Mäntymäki water supply tunnel.

It will be excavated through bedrock and will include both wet and dry sections. The wet section will function as an open sewer, while the dry section will house newly constructed sewer and maintenance water pipelines and will also allow for vehicle and pedestrian access.

"We're proud to take on this significant project, which will enhance the reliability and infrastructure of Helsinki's water supply for years to come. This contract allows us to fully leverage our Infra segment's expertise in both rock and water supply construction," says Aleksi Laine, Executive Vice President of YIT's Infrastructure segment.

Construction is set to begin in the fall.

HSY project page: Construction of the Esplanade water supply tunnel - HSY

For further information:

YIT Corporate communications, tel. +358 44 743 7536, press@yit.fi

Distribution: Nasdaq Helsinki, major media, www.yitgroup.com

We build and develop sustainable living environments: functional and attractive homes, future-proof public and commercial buildings, infrastructure to support the green transition as well as industrial, production, and energy facilities to support our customers' processes. YIT's vision is to be the expert partner in developing sustainable homes, spaces, and cities - for a good life. There are approximately 4,100 professionals in our team and our revenue in 2024 was EUR 1.8 billion. YIT Corporation's shares are listed on Nasdaq Helsinki.

Read more: www.yitgroup.com and follow us on Linkedin I X I Instagram I Facebook

YIT and A-Kruunu have agreed on the construction of rental apartments subsidized with a long-term interest subsidy in Niemenranta, Tampere. A-Kruunu is a state-owned special assignment company that builds affordable rental housing. The earthworks will start in June 2025, and the project is slated for completion in August 2026. The total value of the contract for YIT is approximately EUR 9 million, and it will be recorded in the order book for the second quarter of the year.

The total scope of As Oy Tampere Polaris will be approximately 3 000 square meters of floor space. The project is designed in line with the energy class A requirements and the building will be equipped with solar panels. The apartments contracted for A-Kruunu are part of YIT's regional Niemenranta project in Tampere.

"YIT is a reliable and high-quality developer, and it's great to continue our collaboration in this Niemenranta project. The upcoming site will include 44 apartments for us, ranging from studios to family homes. There is a strong demand for reasonably priced housing in this growing urban area, so the apartments are sure to be sought after. In particular, good public transport connections, such as the rail link to Tampere city centre, are seen as positive factors when people are looking for a home," said Jari Mäkimattila, CEO of A-Kruunu.

"We will complete construction of two apartment buildings for A-Kruunu in Niemenranta during the summer, and it is great to be able to continue this collaboration with the new apartment building. YIT and A-Kruunu have enjoyed excellent, long-term collaboration in several projects around Finland. The Niemenranta area provides an excellent setting for modern living near amenities and good transport connections," says Sami Viitanen, Regional Director of YIT.

Read more about the Niemenranta area:
Apartments and new properties for sale in Niemenranta | YIT.fi

For more information:
YIT Group Communications, tel. +358 44 743 7536, press@yit.fi

We build and develop sustainable living environments: functional and attractive homes, future-proof public and commercial buildings, infrastructure to support the green transition as well as industrial, production, and energy facilities to support our customers' processes. YIT's vision is to be the expert partner in developing sustainable homes, spaces, and cities - for a good life. There are approximately 4,100 professionals in our team and our revenue in 2024 was EUR 1.8 billion. YIT Corporation's shares are listed on Nasdaq Helsinki.

Read more: www.yitgroup.com and follow us on Linkedin I X I Instagram I Facebook

For the seventh time in a row, engineering students have ranked YIT as the most ideal construction industry employer in Universum's annual Student Survey. This year, YIT aims to offer summer jobs or trainee positions to approximately 350 young people in Finland. 

For the seventh consecutive year, engineering students ranked YIT as the most ideal construction industry employer in the Universum Student Survey 2025. A total of 2,857 engineering students responded to the survey. YIT has also been the most ideal construction industry employer for university-educated professionals in the field of technology for five years in a row in the Universum Professionals survey. 

"It is really important that we offer young people an excellent trainee experience and an opportunity for an interesting career path in the construction industry even in challenging economic conditions. In line with our corporate culture, we want to invest in continuous learning from the first steps of young people's careers. In our YIT Path training program, we offer young people a safe and human focused environment to develop into construction professionals," said Jennie Stenbom, the Executive Vice President for People and Culture.  

YIT has made long-term efforts to increase the attractiveness of the construction industry among young people of different ages through active cooperation with educational institutions. The YIT Polku trainee program, which has been in use for more than ten years, has offered summer internships to students in the construction industry. The results of the Universum Student Survey reflect YIT's attractiveness as an employer, as the interest of technology students to apply for a job at YIT had increased by more than ten percentage points in this year's results, and it was also well above the average for technology employers. 

"Successful trainee experiences, enjoyment in the work community and sufficiently responsible tasks in the internship attract students. The interest in applying to YIT shows young people's trust in us as an employer and our training program as an excellent route to becoming a construction professional," said Thomas Finell, who is responsible for recruitment at YIT. 

The investment in guiding young people as a close part of the work community is reflected in YIT's annual trainee feedback even in the longer term. In the last five years, at least 97% of respondents to the feedback would like to continue working at YIT, and the result for the last two years has been as high as 99%. Based on last year's feedback, trainees' willingness to recommend (eNPS) was at an excellent level 59.  

In the annual YIT Voice personnel survey, trainees gave the highest rating for working with colleagues. The 'Relations with colleagues' index was rated 4.3/5 and the statements 'I get support from my colleagues when I need it' 4.5/5, 'We have a good team spirit in the team' 4.4/5 and 'Opportunity to learn and develop' 4.4/5.  

Learn more: 

YIT recognised as the most attractive construction industry employer for the fifth consecutive year | YITGroup.com

Further information: 

YIT Group Communications, tel. +358 44 743 7536,  press@yit.fi

We build and develop sustainable living environments: functional and attractive homes, future-proof public and commercial buildings, infrastructure to support the green transition as well as industrial, production, and energy facilities to support our customers' processes. YIT's vision is to be the expert partner in developing sustainable homes, spaces, and cities - for a good life. There are approximately 4,100 professionals in our team and our revenue in 2024 was EUR 1.8 billion. YIT Corporation's shares are listed on Nasdaq Helsinki. 

Read more: www.yitgroup.com and follow us on Linkedin I X I Instagram I Facebook

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, HONG KONG, JAPAN, NEW ZEALAND, SINGAPORE, SOUTH AFRICA OR SUCH OTHER COUNTRIES OR OTHERWISE IN SUCH CIRCUMSTANCES IN WHICH THE OFFERING OF THE NEW CAPITAL SECURITIES OR THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

Listing prospectus for YIT's EUR 100 million green capital securities is available

YIT Corporation ("YIT") announced on 21 May 2025 its decision to issue EUR 100 million green capital securities (the "New Capital Securities"). The New Capital Securities bear a fixed interest rate of 8.500 per cent per annum until 30 May 2028 (the "Reset Date"), payable annually, and, from the Reset Date, a floating interest rate as defined in the terms and conditions of the New Capital Securities. The New Capital Securities do not have a specified maturity date, but YIT is entitled to redeem the New Capital Securities at their nominal amount on the Reset Date, and subsequently, on each interest payment date.

The Finnish Financial Supervisory Authority has today approved the listing prospectus of the New Capital Securities. The prospectus is available later today in English on YIT's website at https://www.yitgroup.com/en/investors/financial-information/debt-investors.

YIT has today submitted an application for the New Capital Securities to be admitted to trading on the list of sustainable bonds of Nasdaq Helsinki Ltd. Trading on the New Capital Securities is expected to commence on or about 3 June 2025, under the trading code YITJ085028.

Danske Bank A/S, Nordea Bank Abp, OP Corporate Bank plc, Skandinaviska Enskilda Banken AB (publ) and Swedbank AB (publ) act as Joint Lead Managers and Bookrunners for the issue of the New Capital Securities.

Further information, please contact:
Markus Pietikäinen, SVP, Treasury and M&A, YIT Corporation, tel. +358 40 525 3024, markus.pietikainen@yit.fi

YIT CORPORATION

Tuomas Mäkipeska
CFO

Distribution: Nasdaq Helsinki, major media, www.yitgroup.com

We build and develop sustainable living environments: functional and attractive homes, future-proof public and commercial buildings, infrastructure to support the green transition as well as industrial, production, and energy facilities to support our customers' processes. YIT's vision is to be the expert partner in developing sustainable homes, spaces, and cities - for a good life. There are approximately 4,100 professionals in our team and our revenue in 2024 was EUR 1.8 billion. YIT Corporation's shares are listed on Nasdaq Helsinki.  

Read more: www.yitgroup.com and follow us on Linkedin I X I Instagram I Facebook

Important Information

The information contained herein is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into the United States, Australia, Canada, Hong Kong, Japan, New Zealand, Singapore, South Africa or such other countries or otherwise in such circumstances in which the release, publication or distribution would be unlawful. The information contained herein does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, the New Capital Securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction. No actions have been taken to register or qualify the New Capital Securities, or otherwise to permit a public offering of the New Capital Securities, in any jurisdiction.

This communication does not constitute an offer of New Capital Securities for sale in the United States. The New Capital Securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") or under the applicable securities laws of any state of the United States, and the New Capital Securities may not be offered, sold, pledged or otherwise transferred, directly or indirectly, within the United States or to, or for the account or benefit of, any U.S. person (as such terms are defined in Regulation S under the Securities Act) except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.

This communication does not constitute an offer of New Capital Securities to the public in the United Kingdom. No prospectus has been or will be approved in the United Kingdom in respect of the New Capital Securities. Consequently, this communication is addressed to and directed only at persons in the United Kingdom in circumstances where provisions of section 21(1) of the Financial Services and Markets Act 2000 as amended, do not apply and are solely directed at persons in the United Kingdom who (i) have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order"), (ii) are persons falling within Article 49(2)(a) to (d) of the Order, or (iii) are other persons to whom it may be otherwise lawfully communicated (all such persons together being referred to as "relevant persons"). This release is directed only at relevant persons and any person who is not a relevant person must not act or rely on this release or any of its contents.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, HONG KONG, JAPAN, NEW ZEALAND, SINGAPORE, SOUTH AFRICA OR SUCH OTHER COUNTRIES OR OTHERWISE IN SUCH CIRCUMSTANCES IN WHICH THE OFFERING OF THE NEW CAPITAL SECURITIES, THE TENDER OFFER OR THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

YIT Oyj announces final tender offer results for its outstanding green capital securities issued in 2021

YIT Corporation ("YIT" or the "Company") announces today the final results of the invitation to the holders of its green capital securities issued in 2021 with an initial nominal amount of EUR 100 million (ISIN: FI4000496310) (the "Existing Capital Securities") (the "Holders") to tender the Existing Capital Securities for cash on the terms and conditions set out in the Tender Offer Memorandum dated 19 May 2025 (the "Tender Offer Memorandum") (the "Tender Offer").

Capitalised terms not otherwise defined in this announcement have the same meaning as assigned to them in the Tender Offer Memorandum.

Results of the Tender Offer

The expiration deadline for the Tender Offer was 4:00 p.m. Finnish time (EEST) on 26 May 2025. As at the expiration deadline, the aggregate principal amount of Existing Capital Securities validly tendered by the Holders for purchase pursuant to the Tender Offer was EUR 53,940,000.

The Company confirms that the condition relating to the pricing of new euro-denominated green capital securities (the "New Capital Securities") has been fulfilled and, subject to the issuance agreement remaining in full force and effect on the Settlement Date (as defined below), the Company will accept for purchase all such tenders of the Existing Capital Securities pursuant to the terms of the Tender Offer Memorandum.

The purchase price of the Existing Capital Securities is EUR 20,000 per EUR 20,000 in principal amount of the Existing Capital Securities. Accrued and unpaid interest (amounting to approximately 0.945 per cent) will be paid in respect of all Existing Capital Securities accepted for purchase. The settlement date for the Tender Offer is expected to be 30 May 2025 (the "Settlement Date"). All the Existing Capital Securities purchased by the Company will be cancelled. The Existing Capital Securities not purchased pursuant to the Tender Offer will remain outstanding.

Danske Bank A/S, Nordea Bank Abp, OP Corporate Bank plc, Skandinaviska Enskilda Banken AB (publ) and Swedbank AB (publ) act as the Dealer Managers (the "Dealer Managers") and OP Corporate Bank plc acts as the Tender Agent (the "Tender Agent") for the Tender Offer. Information in respect of the Tender Offer and the Tender Offer Memorandum may be obtained from the Dealer Managers.

Dealer Managers:

Danske Bank A/S
Telephone: +45 33 64 88 51
Attention: Debt Capital Markets
Email: liabilitymanagement@danskebank.dk

Nordea Bank Abp
Telephone: +45 6136 0379
Attention: Liability Management
Email: NordeaLiabilityManagement@nordea.com

OP Corporate Bank plc
Telephone: +358 50 599 1281
Attention: Thomas Ulfstedt
Email: liabilitymanagement@op.fi

Skandinaviska Enskilda Banken AB (publ)
Telephone: +44 7 818 426 149
Attention: Liability Management
Email: liabilitymanagementdcm@seb.se

Swedbank AB (publ)
Telephone: +358 40 5062307
Attention: Sami Kankkunen
Email: liabilitymanagement@swedbank.se

Further information, please contact:
Markus Pietikäinen, SVP, Treasury and M&A, YIT Corporation, tel. +358 40 525 3024, markus.pietikainen@yit.fi

YIT CORPORATION

Tuomas Mäkipeska
CFO

Distribution: Nasdaq Helsinki, major media, www.yitgroup.com

We build and develop sustainable living environments: functional and attractive homes, future-proof public and commercial buildings, infrastructure to support the green transition as well as industrial, production, and energy facilities to support our customers' processes. YIT's vision is to be the expert partner in developing sustainable homes, spaces, and cities - for a good life. There are approximately 4,100 professionals in our team and our revenue in 2024 was EUR 1.8 billion. YIT Corporation's shares are listed on Nasdaq Helsinki.

Read more: www.yitgroup.com and follow us on Linkedin I X I Instagram I Facebook

IMPORTANT NOTICE

Distribution Restrictions

General

The distribution of this release and the invitation to tender the Existing Capital Securities is prohibited by law in certain countries. The Tender Offer of the Existing Capital Securities is not made to the public either inside or outside of Finland. Persons resident outside of Finland may receive the Tender Offer only in compliance with applicable exemptions or restrictions. Persons into whose possession this release or the Tender Offer Memorandum may come are required to inform themselves about and comply with such restrictions. This release or the Tender Offer Memorandum may not be distributed or published in any country or jurisdiction if to do so would constitute a violation of the relevant laws of such jurisdiction or would require actions under the laws of a state or jurisdiction other than Finland, including the United States, Australia, Canada, Hong Kong, Singapore, New Zealand, South Africa and Japan. The information contained herein or in the Tender Offer Memorandum shall not constitute an offer to sell or tender, or a solicitation of an offer to buy or sell the Existing Capital Securities to any persons in any jurisdiction in which such offer, solicitation or sale or tender would be unlawful. The Company's, the Dealer Managers' or the Tender Agent's representatives assume no legal responsibility for such violations, regardless of whether the parties contemplating investing in or divesting the Existing Capital Securities are aware of these restrictions or not.

This release or the Tender Offer Memorandum does not constitute an offer to buy or the solicitation of an offer to sell Existing Capital Securities (and tenders of Existing Capital Securities in the Tender Offer will not be accepted from Holders) in any circumstances in which such offer or solicitation would be considered unlawful. In those jurisdictions where the securities, investor protection or other laws require the Tender Offer to be made by a licensed broker or dealer and the Dealer Managers or any of the Dealer Managers' affiliates is such a licensed broker or dealer in any such jurisdiction, the Tender Offer shall be deemed to be made by the Dealer Managers or such affiliate, as the case may be, on behalf of the Company in such jurisdiction.

In addition to the representations referred to above and below in respect of the United States, each Holder participating in the Tender Offer will also be deemed to give certain representations in respect of the other jurisdictions referred to above and generally. Any tender of the Existing Capital Securities for purchase pursuant to the Tender Offer from a Holder that is unable to make these representations will not be accepted. Each of the Company, the Dealer Managers and the Tender Agent reserves the right, in its absolute discretion, to investigate, in relation to any tender of the Existing Capital Securities for purchase pursuant to the Tender Offer, whether any such representation given by a Holder is correct and, if such investigation is undertaken and as a result the Company determines (for any reason) that such representation is not correct, such tender shall not be accepted.

United States

The Tender Offer is not being made, and will not be made, directly or indirectly in or into, and cannot be accepted, directly or indirectly, from, or by use of the mails of, or by any means or instrumentality of interstate or foreign commerce of or of any facilities of a national securities exchange of, the United States or to any U.S. Person (as defined in Regulation S of the U.S. Securities Act of 1933, as amended (the "Securities Act") (each, a "U.S. Person")). This includes, but is not limited to, facsimile transmission, electronic mail, telex, telephone, the internet and other forms of electronic communication. The Existing Capital Securities may not be tendered in the Tender Offer by any such use, means, instrumentality or facility from or within the United States or by persons located or resident in the United States or by, or by any person acting for the account or benefit of, a U.S. Person. Accordingly, copies of this release, the Tender Offer Memorandum and any other documents or materials relating to the Tender Offer are not being, and must not be, directly or indirectly mailed or otherwise sent, transmitted, distributed or forwarded (including, without limitation, by custodians, nominees trustees or agents) in, into or from the United States or to any persons located or resident in the United States or to any U.S. Person and persons receiving this release or the Tender Offer Memorandum must not mail, send, transmit, distribute or forward it or any other documents or materials relating to the Tender Offer in, into or from the United States. Any person accepting the Tender Offer shall be deemed to represent to the Company, the Tender Agent and the Dealer Managers such person's compliance with these restrictions. Any purported acceptance of Existing Capital Securities in the Tender Offer resulting directly or indirectly from a breach or violation of these restrictions will be invalid and any purported tender of Existing Capital Securities made by, or by any person acting for the account or benefit of, a U.S. Person or by a person located in the United States or any agent, fiduciary or other intermediary acting on a nondiscretionary basis for a principal giving instructions from within the United States will be invalid and will not be accepted.

Each Holder participating in the Tender Offer will represent that it is not a U.S. Person, it is not located in the United States and it is not participating in the Tender Offer from the United States, or it is acting on a non-discretionary basis for a principal located outside the United States that is not giving an order to participate in the Tender Offer from the United States and is not a U.S. Person.

United Kingdom

The communication of this release, the Tender Offer Memorandum and any other documents or materials relating to the Tender Offer is not being made, and such documents and/or materials have not been approved, by an authorized person for the purposes of section 21 of the Financial Services and Markets Act 2000. Accordingly, such documents and/or materials are not being distributed to, and must not be passed on to, the general public in the United Kingdom. The communication of such documents and/or materials as a financial promotion is only being made to those persons in the United Kingdom falling within the definition of investment professionals (as defined in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Financial Promotion Order")) or persons who are within Article 43(2) of the Financial Promotion Order or any other persons to whom it may otherwise lawfully be made under the Financial Promotion Order.

France

The Tender Offer is not being made, directly or indirectly, to the public in the Republic of France (France). This release, the Tender Offer Memorandum and any other document or material relating to the Tender Offer may be distributed in France only to qualified investors (investisseurs qualifiés) as defined in Article 2(e) of Regulation (EU) 2017/1129 and in accordance with Articles L.411-1 and L.411-2 of the French Code monétaire et financier and only qualified investors (investisseurs qualifiés) are eligible to participate in the Tender Offer. Neither this release, the Tender Offer Memorandum, nor any other such offering material has been or will be submitted for clearance to nor approved by the Autorité des marchés financiers.

Italy

None of the Tender Offer, this release, the Tender Offer Memorandum or any other document or materials relating to the Tender Offer has been or will be submitted to the clearance procedures of the Commissione Nazionale per le Società e la Borsa (CONSOB) pursuant to Italian laws and regulations. The Tender Offer is being carried out in the Republic of Italy (Italy) as an exempted offer pursuant to article 101-bis, paragraph 3-bis of the Legislative Decree No. 58 of 24 February 1998, as amended (the Financial Services Act) and article 35-bis, paragraph 4 of CONSOB Regulation No. 11971 of 14 May 1999, as amended.

Accordingly, Holders or beneficial owners of the Existing Capital Securities that are resident and/or located in Italy can tender Existing Capital Securities for purchase pursuant to the Tender Offer through authorised persons (such as investment firms, banks or financial intermediaries permitted to conduct such activities in Italy in accordance with the Financial Services Act, CONSOB Regulation No. 20307 of 15 February 2018, as amended from time to time, and Legislative Decree No. 385 of 1 September 1993, as amended) and in compliance with any other applicable laws and regulations and with any requirements imposed by CONSOB and any other Italian authority.

Disclaimer

The information contained herein is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into the United States, Australia, Canada, Hong Kong, Japan, New Zealand, Singapore, South Africa or such other countries or otherwise in such circumstances in which the release, publication or distribution would be unlawful. The information contained herein does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, the New Capital Securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction. No actions have been taken to register or qualify the New Capital Securities, or otherwise to permit a public offering of the New Capital Securities, in any jurisdiction.

This communication does not constitute an offer of New Capital Securities for sale in the United States. The New Capital Securities have not been and will not be registered under the Securities Act or under the applicable securities laws of any state of the United States, and the New Capital Securities may not be offered, sold, pledged or otherwise transferred, directly or indirectly, within the United States or to, or for the account or benefit of, any U.S. person (as such terms are defined in Regulation S under the Securities Act) except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.

This communication does not constitute an offer of New Capital Securities to the public in the United Kingdom. No prospectus has been or will be approved in the United Kingdom in respect of the New Capital Securities. Consequently, this communication is addressed to and directed only at persons in the United Kingdom in circumstances where provisions of section 21(1) of the Financial Services and Markets Act 2000 as amended, do not apply and are solely directed at persons in the United Kingdom who (i) have professional experience in matters relating to investments falling within Article 19(5) of the Financial Promotion Order, (ii) are persons falling within Article 49(2)(a) to (d) of the Financial Promotion Order, or (iii) are other persons to whom it may be otherwise lawfully communicated (all such persons together being referred to as "relevant persons"). This release is directed only at relevant persons and any person who is not a relevant person must not act or rely on this release or any of its contents.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, HONG KONG, JAPAN, NEW ZEALAND, SINGAPORE, SOUTH AFRICA OR SUCH OTHER COUNTRIES OR OTHERWISE IN SUCH CIRCUMSTANCES IN WHICH THE OFFERING OF THE NEW CAPITAL SECURITIES OR THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

YIT successfully issues EUR 100 million green capital securities

YIT Corporation ("YIT") issues new EUR 100 million green capital securities (the "New Capital Securities"). The New Capital Securities bear a fixed interest rate of 8.500 per cent per annum until 30 May 2028 (the "Reset Date"), payable annually, and, from the Reset Date, a floating interest rate as defined in the terms and conditions of the New Capital Securities. The New Capital Securities do not have a specified maturity date, but YIT is entitled to redeem the New Capital Securities at their nominal amount on the Reset Date, and subsequently, on each interest payment date. The issue date for the New Capital Securities is expected to be on or about 30 May 2025.

"I am pleased with the successful hybrid transaction. The transaction was part of our proactive management of financing position and highlights the capital market's continued confidence in YIT and the outlook for our business", says Tuomas Mäkipeska, CFO at YIT.

YIT will apply for a listing of the New Capital Securities on Nasdaq Helsinki Ltd.

YIT intends to use the net proceeds of the issue of the New Capital Securities for refinancing the EUR 100 million green capital securities issued by YIT on 31 March 2021 and general corporate purposes. An amount equivalent to the net proceeds from the issue of the New Capital Securities will be used for the financing or refinancing of eligible green projects or assets or otherwise in accordance with YIT's Green Finance Framework dated 30 April 2024.

Danske Bank A/S, Nordea Bank Abp, OP Corporate Bank plc, Skandinaviska Enskilda Banken AB (publ) and Swedbank AB (publ) act as Joint Lead Managers and Bookrunners for the issue of the New Capital Securities.

Further information, please contact:
Markus Pietikäinen, SVP, Treasury and M&A, YIT Corporation, tel. +358 40 525 3024, markus.pietikainen@yit.fi

YIT CORPORATION

Tuomas Mäkipeska
CFO

Distribution: Nasdaq Helsinki, major media, www.yitgroup.com

We build and develop sustainable living environments: functional and attractive homes, future-proof public and commercial buildings, infrastructure to support the green transition as well as industrial, production, and energy facilities to support our customers' processes. YIT's vision is to be the expert partner in developing sustainable homes, spaces, and cities - for a good life. There are approximately 4,100 professionals in our team and our revenue in 2024 was EUR 1.8 billion. YIT Corporation's shares are listed on Nasdaq Helsinki.

Read more: www.yitgroup.com and follow us on Linkedin I X I Instagram I Facebook

Important Information

The information contained herein is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into the United States, Australia, Canada, Hong Kong, Japan, New Zealand, Singapore, South Africa or such other countries or otherwise in such circumstances in which the release, publication or distribution would be unlawful. The information contained herein does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, the New Capital Securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction. No actions have been taken to register or qualify the New Capital Securities, or otherwise to permit a public offering of the New Capital Securities, in any jurisdiction.

This communication does not constitute an offer of New Capital Securities for sale in the United States. The New Capital Securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") or under the applicable securities laws of any state of the United States, and the New Capital Securities may not be offered, sold, pledged or otherwise transferred, directly or indirectly, within the United States or to, or for the account or benefit of, any U.S. person (as such terms are defined in Regulation S under the Securities Act) except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.

This communication does not constitute an offer of New Capital Securities to the public in the United Kingdom. No prospectus has been or will be approved in the United Kingdom in respect of the New Capital Securities. Consequently, this communication is addressed to and directed only at persons in the United Kingdom in circumstances where provisions of section 21(1) of the Financial Services and Markets Act 2000 as amended, do not apply and are solely directed at persons in the United Kingdom who (i) have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order"), (ii) are persons falling within Article 49(2)(a) to (d) of the Order, or (iii) are other persons to whom it may be otherwise lawfully communicated (all such persons together being referred to as "relevant persons"). This release is directed only at relevant persons and any person who is not a relevant person must not act or rely on this release or any of its contents.

Change in the YIT Leadership Team: Justyna Filipczak appointed EVP, Residential CEE

YIT has appointed Justyna Filipczak (M.Sc. Econ.) as Executive Vice President, Residential CEE segment and member of the YIT Leadership Team starting August 4, 2025.

The Residential CEE segment focuses on residential development and construction for consumers and investors in growth areas in CEE countries, including Poland, Slovakia, Czech Republic, Estonia, Lithuania and Latvia.

Tuomas Mäkipeska, the interim leader of the Residential CEE segment, will continue in his position as Chief Financial Officer of YIT Corporation following Justyna's appointment.    

Justyna brings with her extensive experience from the real estate sector. In her most recent role, she led the operations of Cromwell Property Group, a real estate investor and asset manager, across Poland, the Czech Republic, and Slovakia.

"We are very happy to welcome Justyna to YIT and to our leadership team. Her vast experience and proven track record in the real estate sector, particularly in the Central and Eastern European markets, make her an invaluable addition to YIT. Our ambition is to achieve significant growth during the strategy period in our CEE business. Supported by Justyna's expertise we will be driving our strategy forward and strengthening our market position in this region. We look forward to her leadership and the positive impact she will bring to our Residential CEE segment", said Heikki Vuorenmaa, President and CEO, YIT Corporation.
 

CV Justyna Filipczak
Born 1981
M.Sc. (Economics)

Primary work experience
Cromwell Property Group, Head of CEE, 2021-2025  
Cromwell Property Group, Head of Finance & Operations CEE, 2019-2021
Multi Corporation, Regional Finance Director CEE, 2018-2019
Cromwell Property Group, Head of Finance CEE, 2013-2018
GE Real Estate, various financial reporting & controlling roles, 2005-2013

Further information:
YIT Group Communications, tel. +358 44 743 7536, press@yit.fi

Distribution: NASDAQ Helsinki, major media, www.yitgroup.com

YIT Corporation

Heikki Vuorenmaa
President and CEO

We build and develop sustainable living environments: functional and attractive homes, future-proof public and commercial buildings, infrastructure to support the green transition as well as industrial, production, and energy facilities to support our customers' processes. YIT's vision is to be the expert partner in developing sustainable homes, spaces, and cities - for a good life. There are approximately 4,100 professionals in our team and our revenue in 2024 was EUR 1.8 billion. YIT Corporation's shares are listed on Nasdaq Helsinki.

Read more: www.yitgroup.com and follow us on Linkedin I X I Instagram I Facebook

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, HONG KONG, JAPAN, NEW ZEALAND, SINGAPORE, SOUTH AFRICA OR SUCH OTHER COUNTRIES OR OTHERWISE IN SUCH CIRCUMSTANCES IN WHICH THE OFFERING OF THE NEW CAPITAL SECURITIES, THE TENDER OFFER OR THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

Inside information: YIT considers the issuance of green capital securities and announces a tender offer for its outstanding green capital securities issued in 2021

YIT Corporation ("YIT" or the "Company") is considering the issuance of new green capital securities in the aggregate amount of expected EUR 100 million (the "New Capital Securities"). The issue is expected to take place in the near future subject to market conditions.

At the same time, YIT announces that it invites the holders of its green capital securities issued by YIT on 31 March 2021 with an initial nominal amount of EUR 100 million (ISIN: FI4000496310) (the "Existing Capital Securities") (the "Holders") to tender the Existing Capital Securities for cash on the terms and conditions set out in the Tender Offer Memorandum dated 19 May 2025 (the "Tender Offer Memorandum") (the "Tender Offer").

Holders are advised to read carefully the Tender Offer Memorandum for full details of, and information on the procedures for participating in, the Tender Offer.

Further Information on the Tender Offer

The Company intends to accept for purchase any and all valid tender instructions from Holders who subscribe for New Capital Securities, up to the nominal amount subscribed for and allocated in the issue of New Capital Securities (or a higher amount at the sole discretion of the Company) (the "Priority Tenders"), although the Company reserves the right, in its sole discretion, to decide on acceptance of the Existing Capital Securities for purchase, including not to accept any Existing Capital Securities for purchase. Whether the Company will purchase any Existing Capital Securities validly tendered in the Tender Offer is subject, without limitation, to the successful pricing of the contemplated New Capital Securities (the "New Issue Condition").

The purchase price of the Existing Capital Securities is EUR 20,000 for each EUR 20,000 nominal amount of the Existing Capital Securities. Accrued and unpaid interest will be paid in respect of all Existing Capital Securities accepted for purchase.

If the Company decides to accept for purchase valid tenders of the Existing Capital Securities pursuant to the Tender Offer, the final acceptance amount will be determined by the Company in its sole discretion and, for the avoidance of doubt, such amount may be lower than the total nominal value of Existing Capital Securities validly tendered. If the Company decides to accept for purchase valid tenders of the Existing Capital Securities pursuant to the Tender Offer and the aggregate nominal amount of the Existing Capital Securities validly tendered pursuant to the Tender Offer is greater than the final acceptance amount, the Company intends to firstly accept the Priority Tenders. In respect of tender instructions for Existing Capital Securities that have not been priority allocated for purchase in accordance with the aforesaid, the Company may thereafter secondly accept other valid tender instructions of Existing Capital Securities on a pro-rata basis, at the Company's sole and absolute discretion.

When considering allocations of the New Capital Securities, the Company may give preference to those investors who, prior to such allocation, have validly tendered or indicated their firm intention to the Company or any of the Dealer Managers (as defined below) to tender their Existing Capital Securities. A Holder that wishes to subscribe for New Capital Securities in addition to tendering Existing Capital Securities for purchase pursuant to the Tender Offer may be eligible to receive priority in the allocation of the New Capital Securities, at the Company's sole and absolute discretion and subject to the completion of the Tender Offer, the selling restrictions contained in the prospectus for the New Capital Securities, satisfaction or waiver of the New Issue Condition, and such investor making a separate application for the purchase the New Capital Securities to any of the Dealer Managers (in their capacity as Joint Lead Managers and Bookrunners (as defined below) of the issue of the New Capital Securities) in accordance with the standard new issue procedures of such Dealer Manager. However, the Company is not obliged to allocate the New Capital Securities to those investors who have validly tendered or indicated a firm intention to tender the Existing Capital Securities pursuant to the Tender Offer and, if the New Capital Securities are allocated, the principal amount thereof may be less or more than the principal amount of Existing Capital Securities validly tendered by such investor and accepted for purchase by the Company pursuant to the Tender Offer. Any such allocation will also, among other factors, take into account the minimum denomination of the New Capital Securities (being EUR 20,000) and the minimum subscription amount (being EUR 100,000).

Expected Transaction Timeline

Unless extended, re-opened or terminated as provided in the Tender Offer Memorandum, the offer period expires at 4:00 p.m. Finnish time (EEST) on 26 May 2025. The final results of the Tender Offer will be announced as soon as feasible after the expiry of the offer period. Subject to the satisfaction or waiver of the New Issue Condition, the settlement date for the Tender Offer and the New Capital Securities is expected to be 29 May 2025 and in any case no later than 12 June 2025.

Rationale for the Tender Offer

YIT intends to use the proceeds received from the issue of the New Capital Securities, less the costs and expenses incurred by the Company in connection with the issue of the New Capital Securities, for refinancing the Existing Capital Securities and general corporate purposes. The purpose of the Tender Offer in conjunction with the issuance of the New Capital Securities is to proactively manage the debt portfolio of the Company.

Danske Bank A/S, Nordea Bank Abp, OP Corporate Bank plc, Skandinaviska Enskilda Banken AB (publ) and Swedbank AB (publ) act as the Dealer Managers (the "Dealer Managers") and OP Corporate Bank plc acts as the Tender Agent (the "Tender Agent") for the Tender Offer. Information in respect of the Tender Offer and the Tender Offer Memorandum may be obtained from the Dealer Managers. In addition, Danske Bank A/S, Nordea Bank Abp, OP Corporate Bank plc, Skandinaviska Enskilda Banken AB (publ) and Swedbank AB (publ) act as Joint Lead Managers and Bookrunners (the "Joint Lead Managers and Bookrunners") for the issue of the New Capital Securities.
 

Dealer Managers:

Danske Bank A/S
Telephone: +45 33 64 88 51
Attention: Debt Capital Markets
Email: liabilitymanagement@danskebank.dk

Nordea Bank Abp
Telephone: +45 6136 0379
Attention: Liability Management
Email: NordeaLiabilityManagement@nordea.com

OP Corporate Bank plc
Telephone: +358 50 599 1281
Attention: Thomas Ulfstedt
Email: liabilitymanagement@op.fi

Skandinaviska Enskilda Banken AB (publ)
Telephone: +44 7 818 426 149
Attention: Liability Management
Email: liabilitymanagementdcm@seb.se

Swedbank AB (publ)
Telephone: +358 40 5062307
Attention: Sami Kankkunen
Email: liabilitymanagement@swedbank.se
 

Further information, please contact:

Markus Pietikäinen, SVP, Treasury and M&A, YIT Corporation, tel. +358 40 525 3024, markus.pietikainen@yit.fi
 

YIT CORPORATION

Tuomas Mäkipeska
CFO

Distribution: Nasdaq Helsinki, major media, www.yitgroup.com

We build and develop sustainable living environments: functional and attractive homes, future-proof public and commercial buildings, infrastructure to support the green transition as well as industrial, production, and energy facilities to support our customers' processes. YIT's vision is to be the expert partner in developing sustainable homes, spaces, and cities - for a good life. There are approximately 4,100 professionals in our team and our revenue in 2024 was EUR 1.8 billion. YIT Corporation's shares are listed on Nasdaq Helsinki.

Read more: www.yitgroup.com and follow us on Linkedin I X I Instagram I Facebook

IMPORTANT NOTICE

This release must be read in conjunction with the Tender Offer Memorandum. This release and the Tender Offer Memorandum contain important information which should be read carefully before any decision is made with respect to the Tender Offer. If any Holder is in any doubt as to the contents of this release or the Tender Offer Memorandum or the action it should take, it is recommended to seek its own financial advice, including in respect of any tax consequences, immediately from its independent financial, tax or legal adviser. Any person whose Existing Capital Securities are held on its behalf by a broker, dealer, bank, custodian, trust company or other nominee must contact such entity if it wishes to tender such Existing Capital Securities pursuant to the Tender Offer. Neither the Dealer Managers, the Tender Agent nor the Company makes any recommendation as to whether Holders should tender Existing Capital Securities pursuant to the Tender Offer.

Distribution Restrictions

General

The distribution of this release and the invitation to tender the Existing Capital Securities is prohibited by law in certain countries. The Tender Offer of the Existing Capital Securities is not made to the public either inside or outside of Finland. Persons resident outside of Finland may receive the Tender Offer only in compliance with applicable exemptions or restrictions. Persons into whose possession this release or the Tender Offer Memorandum may come are required to inform themselves about and comply with such restrictions. This release or the Tender Offer Memorandum may not be distributed or published in any country or jurisdiction if to do so would constitute a violation of the relevant laws of such jurisdiction or would require actions under the laws of a state or jurisdiction other than Finland, including the United States, Australia, Canada, Hong Kong, Singapore, New Zealand, South Africa and Japan. The information contained herein or in the Tender Offer Memorandum shall not constitute an offer to sell or tender, or a solicitation of an offer to buy or sell the Existing Capital Securities to any persons in any jurisdiction in which such offer, solicitation or sale or tender would be unlawful. The Company's, the Dealer Managers' or the Tender Agent's representatives assume no legal responsibility for such violations, regardless of whether the parties contemplating investing in or divesting the Existing Capital Securities are aware of these restrictions or not.

This release or the Tender Offer Memorandum does not constitute an offer to buy or the solicitation of an offer to sell Existing Capital Securities (and tenders of Existing Capital Securities in the Tender Offer will not be accepted from Holders) in any circumstances in which such offer or solicitation would be considered unlawful. In those jurisdictions where the securities, investor protection or other laws require the Tender Offer to be made by a licensed broker or dealer and the Dealer Managers or any of the Dealer Managers' affiliates is such a licensed broker or dealer in any such jurisdiction, the Tender Offer shall be deemed to be made by the Dealer Managers or such affiliate, as the case may be, on behalf of the Company in such jurisdiction.

In addition to the representations referred to above and below in respect of the United States, each Holder participating in the Tender Offer will also be deemed to give certain representations in respect of the other jurisdictions referred to above and generally. Any tender of the Existing Capital Securities for purchase pursuant to the Tender Offer from a Holder that is unable to make these representations will not be accepted. Each of the Company, the Dealer Managers and the Tender Agent reserves the right, in its absolute discretion, to investigate, in relation to any tender of the Existing Capital Securities for purchase pursuant to the Tender Offer, whether any such representation given by a Holder is correct and, if such investigation is undertaken and as a result the Company determines (for any reason) that such representation is not correct, such tender shall not be accepted.

United States

The Tender Offer is not being made, and will not be made, directly or indirectly in or into, and cannot be accepted, directly or indirectly, from, or by use of the mails of, or by any means or instrumentality of interstate or foreign commerce of or of any facilities of a national securities exchange of, the United States or to any U.S. Person (as defined in Regulation S of the U.S. Securities Act of 1933, as amended (the "Securities Act") (each, a "U.S. Person")). This includes, but is not limited to, facsimile transmission, electronic mail, telex, telephone, the internet and other forms of electronic communication. The Existing Capital Securities may not be tendered in the Tender Offer by any such use, means, instrumentality or facility from or within the United States or by persons located or resident in the United States or by, or by any person acting for the account or benefit of, a U.S. Person. Accordingly, copies of this release, the Tender Offer Memorandum and any other documents or materials relating to the Tender Offer are not being, and must not be, directly or indirectly mailed or otherwise sent, transmitted, distributed or forwarded (including, without limitation, by custodians, nominees trustees or agents) in, into or from the United States or to any persons located or resident in the United States or to any U.S. Person and persons receiving this release or the Tender Offer Memorandum must not mail, send, transmit, distribute or forward it or any other documents or materials relating to the Tender Offer in, into or from the United States. Any person accepting the Tender Offer shall be deemed to represent to the Company, the Tender Agent and the Dealer Managers such person's compliance with these restrictions. Any purported acceptance of Existing Capital Securities in the Tender Offer resulting directly or indirectly from a breach or violation of these restrictions will be invalid and any purported tender of Existing Capital Securities made by, or by any person acting for the account or benefit of, a U.S. Person or by a person located in the United States or any agent, fiduciary or other intermediary acting on a nondiscretionary basis for a principal giving instructions from within the United States will be invalid and will not be accepted.

Each Holder participating in the Tender Offer will represent that it is not a U.S. Person, it is not located in the United States and it is not participating in the Tender Offer from the United States, or it is acting on a non-discretionary basis for a principal located outside the United States that is not giving an order to participate in the Tender Offer from the United States and is not a U.S. Person.

United Kingdom

The communication of this release, the Tender Offer Memorandum and any other documents or materials relating to the Tender Offer is not being made, and such documents and/or materials have not been approved, by an authorized person for the purposes of section 21 of the Financial Services and Markets Act 2000. Accordingly, such documents and/or materials are not being distributed to, and must not be passed on to, the general public in the United Kingdom. The communication of such documents and/or materials as a financial promotion is only being made to those persons in the United Kingdom falling within the definition of investment professionals (as defined in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Financial Promotion Order")) or persons who are within Article 43(2) of the Financial Promotion Order or any other persons to whom it may otherwise lawfully be made under the Financial Promotion Order.

France

The Tender Offer is not being made, directly or indirectly, to the public in the Republic of France (France). This release, the Tender Offer Memorandum and any other document or material relating to the Tender Offer may be distributed in France only to qualified investors (investisseurs qualifiés) as defined in Article 2(e) of Regulation (EU) 2017/1129 and in accordance with Articles L.411-1 and L.411-2 of the French Code monétaire et financier and only qualified investors (investisseurs qualifiés) are eligible to participate in the Tender Offer. Neither this release, the Tender Offer Memorandum, nor any other such offering material has been or will be submitted for clearance to nor approved by the Autorité des marchés financiers.

Italy

None of the Tender Offer, this release, the Tender Offer Memorandum or any other document or materials relating to the Tender Offer has been or will be submitted to the clearance procedures of the Commissione Nazionale per le Società e la Borsa (CONSOB) pursuant to Italian laws and regulations. The Tender Offer is being carried out in the Republic of Italy (Italy) as an exempted offer pursuant to article 101-bis, paragraph 3-bis of the Legislative Decree No. 58 of 24 February 1998, as amended (the Financial Services Act) and article 35-bis, paragraph 4 of CONSOB Regulation No. 11971 of 14 May 1999, as amended.

Accordingly, Holders or beneficial owners of the Existing Capital Securities that are resident and/or located in Italy can tender Existing Capital Securities for purchase pursuant to the Tender Offer through authorised persons (such as investment firms, banks or financial intermediaries permitted to conduct such activities in Italy in accordance with the Financial Services Act, CONSOB Regulation No. 20307 of 15 February 2018, as amended from time to time, and Legislative Decree No. 385 of 1 September 1993, as amended) and in compliance with any other applicable laws and regulations and with any requirements imposed by CONSOB and any other Italian authority.

Disclaimer

The information contained herein is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into the United States, Australia, Canada, Hong Kong, Japan, New Zealand, Singapore, South Africa or such other countries or otherwise in such circumstances in which the release, publication or distribution would be unlawful. The information contained herein does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, the New Capital Securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction. No actions have been taken to register or qualify the New Capital Securities, or otherwise to permit a public offering of the New Capital Securities, in any jurisdiction.

This communication does not constitute an offer of New Capital Securities for sale in the United States. The New Capital Securities have not been and will not be registered under the Securities Act or under the applicable securities laws of any state of the United States, and the New Capital Securities may not be offered, sold, pledged or otherwise transferred, directly or indirectly, within the United States or to, or for the account or benefit of, any U.S. person (as such terms are defined in Regulation S under the Securities Act) except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.

This communication does not constitute an offer of New Capital Securities to the public in the United Kingdom. No prospectus has been or will be approved in the United Kingdom in respect of the New Capital Securities. Consequently, this communication is addressed to and directed only at persons in the United Kingdom in circumstances where provisions of section 21(1) of the Financial Services and Markets Act 2000 as amended, do not apply and are solely directed at persons in the United Kingdom who (i) have professional experience in matters relating to investments falling within Article 19(5) of the Financial Promotion Order, (ii) are persons falling within Article 49(2)(a) to (d) of the Financial Promotion Order, or (iii) are other persons to whom it may be otherwise lawfully communicated (all such persons together being referred to as "relevant persons"). This release is directed only at relevant persons and any person who is not a relevant person must not act or rely on this release or any of its contents.

YIT selected to implement seven day-care centres in Turku using the lifecycle model - order value approximately 72 million

The City Council of Turku selected YIT as the implementer and the provider of life-cycle services of seven day-care centres located in Turku. YIT is responsible for the design, implementation and 20-year service period of the day-care centres, which also includes responsibility for the optimal energy consumption of the properties. The buildings will be owned by the City of Turku. The total value of the agreement for YIT is approximately EUR 72 million. The contracts will be signed in June 2025 and are recorded in the order book in stages as construction begins.

The lifecycle project includes new day-care centre buildings in Pääskyvuori, Pihlajaniemi, Skanssi, Educated, Varissuo, Uittamo and Martti. The total area of solid wood-framed day-care centres is about 15,000 gross square metres. The premises will be used by about 970 children of early childhood education age and about 250 staff members. Child-centered design solutions promote children's development. Construction is scheduled to start in the spring of 2026, when the planning phase has been completed. All seven day-care centre building are expected to be completed by April 2029.

"In the coming years, Turku will invest historically much in day-care centres and schools. The progress of the lifecycle projects means that we will be able to repair and build the Turku day-care centre network even in an accelerated schedule to meet the needs of the city's residential areas. With the new facilities, functional playgrounds and regional attraction factors will be added to the areas," said Piia Elo, Deputy Mayor of Turku.

"I am glad that we were chosen as a day-care centre implementer and the provider of the life-cycle services. It is great to be able to implement high-quality, healthy and safe premises for children and day-care workers in Turku," said Jyrki Meri, Southwest Finland's Regional Director at YIT.

The carbon footprint of the building and construction site during its life cycle is to be kept as low as possible. The goal is a low-emission construction site using renewable energy sources. Five stars are sought for the project in the Rakennustieto environmental classification, which is the highest possible environmental classification level. Buildings will be more energy efficient and will have photovoltaic systems that will cover at least 30% of their real estate and lighting electricity needs.

Further information:
YIT Group Communications, tel. +358 44 743 7536, press@yit.fi

Distribution: NASDAQ Helsinki, major media, www.yitgroup.com

We build and develop sustainable living environments: functional and attractive homes, future-proof public and commercial buildings, infrastructure to support the green transition as well as industrial, production, and energy facilities to support our customers' processes. YIT's vision is to be the expert partner in developing sustainable homes, spaces, and cities - for a good life. There are approximately 4,100 professionals in our team and our revenue in 2024 was EUR 1.8 billion. YIT Corporation's shares are listed on Nasdaq Helsinki.

Read more: www.yitgroup.com and follow us on Linkedin I X I Instagram I Facebook

YIT and Tampereen Tilapalvelut Oy have signed the order of the implementation phase of the Aleksanteri School's renovation project. In the recently completed development phase of the project, the content of the renovation as well as the target and ceiling price of the project management contract were defined in close collaboration with the client, the principal designer, the project management contractor, the design team, and users. The implementation plans and the target price were approved by the City Board in April.

The project will be implemented as a collaborative project management contract with a target and ceiling price, with YIT acting as the project management contractor and the main contractor. During the development phase of the project, the project management contract cost was estimated to be approximately EUR 24 million. The contract will be entered in YIT's order book for the second quarter.

The construction work will begin in June 2025, with the renovation of the premises slated for completion in August 2027.

The Aleksanteri School is the oldest school in the City of Tampere that is still in operation. Consisting of three school buildings built at different times, it is an exceptionally demanding renovation site. The buildings and yard area are protected sites, and the buildings will undergo extensive structural repairs.

In the renovation project, the school's building systems will be modernized and the interiors will be updated to meet the standards for a modern school environment, while respecting the history of the building. Accessibility in the building will also be improved. The Aleksanteri School buildings house premises for grades 1-6 and preschool groups, altogether for about 550 pupils.

Learn more:
YIT selected as partner for the renovation of the Aleksanteri School in Tampere | YITGroup.com

For more information:
YIT Group Communications, tel. +358 44 743 7536, press@yit.fi

We build and develop sustainable living environments: functional and comfortable real estate as homes, public and commercial buildings for future needs, infrastructure to promote the green transition, and industrial, production and energy facilities to support our customers' processes. YIT's vision is to be the most competent partner in the development of sustainable homes, spaces and cities - for a good life. The company employs around 4 100 professionals, and in 2024 our turnover was EUR 1.8 billion. YIT's shares are listed on Nasdaq Helsinki.

Learn more: www.yitgroup.com/en and follow us on Linkedin I X I Instagram I Facebook

YIT Corporation: Managers' transactions - Tuomas Mäkipeska

YIT Corporation has received the following notification:
 

YIT Corporation - Managers' transactions - Mäkipeska

____________________________________________

Person subject to the notification requirement

Name: Mäkipeska, Tuomas

Position: Chief Financial Officer

Issuer: YIT Corporation

LEI: 529900M13GM4VSTE6W80

Notification type: INITIAL NOTIFICATION

Reference number: 107611/4/4

____________________________________________

Transaction date: 2025-05-06

Venue not applicable

Instrument type: SHARE

ISIN: FI0009800643

Nature of the transaction: RECEIPT OF A SHARE-BASED INCENTIVE

Transaction details

(1): Volume: 4746 Unit price: 0.00 EUR

Aggregated transactions

(1): Volume: 4746 Volume weighted average price: 0.00 EUR

For further information:
Essi Nikitin, Vice President, Investor Relations, YIT Corporation, tel. +358 50 581 1455, essi.nikitin@yit.fi

YIT Corporation

Tuomas Mäkipeska
CFO

Distribution: Nasdaq Helsinki, major media, www.yitgroup.com

We build and develop sustainable living environments: functional and attractive homes, future-proof public and commercial buildings, infrastructure to support the green transition as well as industrial, production, and energy facilities to support our customers' processes. YIT's vision is to be the expert partner in developing sustainable homes, spaces, and cities - for a good life. There are approximately 4,100 professionals in our team and our revenue in 2024 was EUR 1.8 billion. YIT Corporation's shares are listed on Nasdaq Helsinki.

Read more: www.yitgroup.com and follow us on Linkedin I X I Instagram I Facebook

YIT Corporation: Managers' transactions - Casimir Lindholm

YIT Corporation has received the following notification:
 

YIT Corporation - Managers' transactions - Lindholm

____________________________________________

Person subject to the notification requirement

Name: Lindholm, Casimir

Position: Member of the Board/Deputy member

Issuer: YIT Corporation

LEI: 529900M13GM4VSTE6W80

Notification type: INITIAL NOTIFICATION

Reference number: 529900M13GM4VSTE6W80_20250502135329_89

____________________________________________

Transaction date: 2025-04-30

Venue: XHEL

Instrument type: SHARE

ISIN: FI0009800643

Nature of the transaction: RECEIPT OF A SHARE-BASED INCENTIVE

Transaction details

(1): Volume: 11342 Unit price: 0.00 EUR

Aggregated transactions

(1): Volume: 11342 Volume weighted average price: 0.00 EUR

For further information:
Essi Nikitin, Vice President, Investor Relations, YIT Corporation, tel. +358 50 581 1455, essi.nikitin@yit.fi

YIT Corporation

Tuomas Mäkipeska
CFO

Distribution: Nasdaq Helsinki, major media, www.yitgroup.com

We build and develop sustainable living environments: functional and attractive homes, future-proof public and commercial buildings, infrastructure to support the green transition as well as industrial, production, and energy facilities to support our customers' processes. YIT's vision is to be the expert partner in developing sustainable homes, spaces, and cities - for a good life. There are approximately 4,100 professionals in our team and our revenue in 2024 was EUR 1.8 billion. YIT Corporation's shares are listed on Nasdaq Helsinki.

Read more: www.yitgroup.com and follow us on Linkedin I X I Instagram I Facebook

YIT Corporation: Managers' transactions - Jyri Luomakoski

YIT Corporation has received the following notification:
 

YIT Corporation - Managers' transactions - Luomakoski

____________________________________________

Person subject to the notification requirement

Name: Luomakoski, Jyri

Position: Member of the Board/Deputy member

Issuer: YIT Corporation

LEI: 529900M13GM4VSTE6W80

Notification type: INITIAL NOTIFICATION

Reference number: 529900M13GM4VSTE6W80_20250502135329_90

____________________________________________

Transaction date: 2025-04-30

Venue: XHEL

Instrument type: SHARE

ISIN: FI0009800643

Nature of the transaction: RECEIPT OF A SHARE-BASED INCENTIVE

Transaction details

(1): Volume: 16203 Unit price: 0.00 EUR

Aggregated transactions

(1): Volume: 16203 Volume weighted average price: 0.00 EUR

For further information:
Essi Nikitin, Vice President, Investor Relations, YIT Corporation, tel. +358 50 581 1455, essi.nikitin@yit.fi

YIT Corporation

Tuomas Mäkipeska
CFO

Distribution: Nasdaq Helsinki, major media, www.yitgroup.com

We build and develop sustainable living environments: functional and attractive homes, future-proof public and commercial buildings, infrastructure to support the green transition as well as industrial, production, and energy facilities to support our customers' processes. YIT's vision is to be the expert partner in developing sustainable homes, spaces, and cities - for a good life. There are approximately 4,100 professionals in our team and our revenue in 2024 was EUR 1.8 billion. YIT Corporation's shares are listed on Nasdaq Helsinki.

Read more: www.yitgroup.com and follow us on Linkedin I X I Instagram I Facebook

YIT Corporation: Managers' transactions - Leena Vainiomäki

YIT Corporation has received the following notification:
 

YIT Corporation - Managers' transactions - Vainiomäki

____________________________________________

Person subject to the notification requirement

Name: Vainiomäki, Leena

Position: Member of the Board/Deputy member

Issuer: YIT Corporation

LEI: 529900M13GM4VSTE6W80

Notification type: INITIAL NOTIFICATION

Reference number: 529900M13GM4VSTE6W80_20250502135329_92

____________________________________________

Transaction date: 2025-04-30

Venue: XHEL

Instrument type: SHARE

ISIN: FI0009800643

Nature of the transaction: RECEIPT OF A SHARE-BASED INCENTIVE

Transaction details

(1): Volume: 8101 Unit price: 0.00 EUR

Aggregated transactions

(1): Volume: 8101 Volume weighted average price: 0.00 EUR

For further information:
Essi Nikitin, Vice President, Investor Relations, YIT Corporation, tel. +358 50 581 1455, essi.nikitin@yit.fi

YIT Corporation

Tuomas Mäkipeska
CFO

Distribution: Nasdaq Helsinki, major media, www.yitgroup.com

We build and develop sustainable living environments: functional and attractive homes, future-proof public and commercial buildings, infrastructure to support the green transition as well as industrial, production, and energy facilities to support our customers' processes. YIT's vision is to be the expert partner in developing sustainable homes, spaces, and cities - for a good life. There are approximately 4,100 professionals in our team and our revenue in 2024 was EUR 1.8 billion. YIT Corporation's shares are listed on Nasdaq Helsinki.

Read more: www.yitgroup.com and follow us on Linkedin I X I Instagram I Facebook

YIT Corporation: Managers' transactions - Sami Laine

YIT Corporation has received the following notification:
 

YIT Corporation - Managers' transactions - Laine

____________________________________________

Person subject to the notification requirement

Name: Laine, Sami

Position: Member of the Board/Deputy member

Issuer: YIT Corporation

LEI: 529900M13GM4VSTE6W80

Notification type: INITIAL NOTIFICATION

Reference number: 529900M13GM4VSTE6W80_20250502135329_88

____________________________________________

Transaction date: 2025-04-30

Venue: XHEL

Instrument type: SHARE

ISIN: FI0009800643

Nature of the transaction: RECEIPT OF A SHARE-BASED INCENTIVE

Transaction details

(1): Volume: 8101 Unit price: 0.00 EUR

Aggregated transactions

(1): Volume: 8101 Volume weighted average price: 0.00 EUR

For further information:
Essi Nikitin, Vice President, Investor Relations, YIT Corporation, tel. +358 50 581 1455, essi.nikitin@yit.fi

YIT Corporation

Tuomas Mäkipeska
CFO

Distribution: Nasdaq Helsinki, major media, www.yitgroup.com

We build and develop sustainable living environments: functional and attractive homes, future-proof public and commercial buildings, infrastructure to support the green transition as well as industrial, production, and energy facilities to support our customers' processes. YIT's vision is to be the expert partner in developing sustainable homes, spaces, and cities - for a good life. There are approximately 4,100 professionals in our team and our revenue in 2024 was EUR 1.8 billion. YIT Corporation's shares are listed on Nasdaq Helsinki.

Read more: www.yitgroup.com and follow us on Linkedin I X I Instagram I Facebook

YIT Corporation: Managers' transactions - Kerttu Tuomas

YIT Corporation - Managers' transactions - Tuomas

____________________________________________

Person subject to the notification requirement

Name: Tuomas, Kerttu

Position: Member of the Board/Deputy member

Issuer: YIT Corporation

LEI: 529900M13GM4VSTE6W80

Notification type: INITIAL NOTIFICATION

Reference number: 529900M13GM4VSTE6W80_20250502135329_91

____________________________________________

Transaction date: 2025-04-30

Venue: XHEL

Instrument type: SHARE

ISIN: FI0009800643

Nature of the transaction: RECEIPT OF A SHARE-BASED INCENTIVE

Transaction details

(1): Volume: 11342 Unit price: 0.00 EUR

Aggregated transactions

(1): Volume: 11342 Volume weighted average price: 0.00 EUR

For further information:
Essi Nikitin, Vice President, Investor Relations, YIT Corporation, tel. +358 50 581 1455, essi.nikitin@yit.fi

YIT Corporation

Tuomas Mäkipeska
CFO

Distribution: Nasdaq Helsinki, major media, www.yitgroup.com

We build and develop sustainable living environments: functional and attractive homes, future-proof public and commercial buildings, infrastructure to support the green transition as well as industrial, production, and energy facilities to support our customers' processes. YIT's vision is to be the expert partner in developing sustainable homes, spaces, and cities - for a good life. There are approximately 4,100 professionals in our team and our revenue in 2024 was EUR 1.8 billion. YIT Corporation's shares are listed on Nasdaq Helsinki.

Read more: www.yitgroup.com and follow us on Linkedin I X I Instagram I Facebook

YIT Corporation: Managers' transactions - Anders Dahlblom

YIT Corporation has received the following notification:
 

YIT Corporation - Managers' transactions - Dahlblom

____________________________________________

Person subject to the notification requirement

Name: Dahlblom, Anders

Position: Member of the Board/Deputy member

Issuer: YIT Corporation

LEI: 529900M13GM4VSTE6W80

Notification type: INITIAL NOTIFICATION

Reference number: 529900M13GM4VSTE6W80_20250502135329_87

____________________________________________

Transaction date: 2025-04-30

Venue: XHEL

Instrument type: SHARE

ISIN: FI0009800643

Nature of the transaction: RECEIPT OF A SHARE-BASED INCENTIVE

Transaction details

(1): Volume: 8101 Unit price: 0.00 EUR

Aggregated transactions

(1): Volume: 8101 Volume weighted average price: 0.00 EUR

For further information:

Essi Nikitin, Vice President, Investor Relations, YIT Corporation, tel. +358 50 581 1455, essi.nikitin@yit.fi

YIT Corporation

Tuomas Mäkipeska
CFO

Distribution: Nasdaq Helsinki, major media, www.yitgroup.com

We build and develop sustainable living environments: functional and attractive homes, future-proof public and commercial buildings, infrastructure to support the green transition as well as industrial, production, and energy facilities to support our customers' processes. YIT's vision is to be the expert partner in developing sustainable homes, spaces, and cities - for a good life. There are approximately 4,100 professionals in our team and our revenue in 2024 was EUR 1.8 billion. YIT Corporation's shares are listed on Nasdaq Helsinki.

Read more: www.yitgroup.com and follow us on Linkedin I X I Instagram I Facebook

YIT Corporation establishes a new strategic long-term incentive plan for top management

The Board of Directors of YIT Corporation has resolved to establish a new share-based incentive plan for the top management of the YIT Group. The purpose of the plan is to align the interests of the company's shareholders and the top management to increase the company's value in the long term, to commit the top management to implement the company's strategy and objectives launched in late 2024 for the period 2025 - 2029, and to create a strong link between the long-term strategic objectives and the compensation structures of the top management.

The Strategic Long-Term Incentive Plan 2025-2029 consists of one performance period, which covers the financial years 2025-2029.

In the plan, the target group has an opportunity to earn YIT Corporation shares based on performance. The performance criteria of the plan are tied to the year 2029 Net Sales, Adjusted Earnings Before Interest and Taxes, Return on Capital Employed and various Milestone Criteria, which are linked to the strategic goals of YIT Corporation. The potential rewards from the plan will be paid within five months after the end of the performance period.

The value of the rewards to be paid on the basis of the plan corresponds to a maximum total of 2 900 000 shares of YIT Corporation, including also the proportion to be paid in cash. The target group in the plan consists of approximately 10 key leaders, including the members of the YIT Leadership Team and the President and CEO.

The potential reward will be paid partly in YIT Corporation shares and partly in cash. The cash proportion of the reward is intended to cover taxes and statutory social security contributions arising from the reward to the participants. As a rule, no reward will be paid if the key leaders' employment or director contract terminates before the reward payment.

For further information:
YIT Group Communications, tel. +358 44 743 7536, press@yit.fi

YIT Corporation

Jyri Luomakoski
Chair of the Board of Directors

Distribution: Nasdaq Helsinki, major media, www.yitgroup.com

We build and develop sustainable living environments: functional and attractive homes, future-proof public and commercial buildings, infrastructure to support the green transition as well as industrial, production, and energy facilities to support our customers' processes. YIT's vision is to be the expert partner in developing sustainable homes, spaces, and cities - for a good life. There are approximately 4,100 professionals in our team and our revenue in 2024 was EUR 1.8 billion. YIT Corporation's shares are listed on Nasdaq Helsinki.

Read more: www.yitgroup.com and follow us on Linkedin I X I Instagram I Facebook

YIT is starting the construction of a self-developed apartment building project called Asunto Oy Kuopio Maaherra in the center of Kuopio. The five-storey residential building will house 51 homes, two commercial premises, and a parking facility with 30 spaces. The value of the project is approximately EUR 15 million. The construction works were started in April, and the project is due to be finished by the end of 2025.

The apartment building, which will be built on its own plot in the best location in the city center, will house residential spaces of about 2,700 square meters and business premises with a total area of about 160 square meters. Kuopion Maaherra's apartments will range from 26 to 116 square meters in size, and residents may choose their new home from a variety of floor plans, ranging from studios to four-room apartments. In Maaherra, the shared spaces are also first class. Residents will have access to an atmospheric sauna with a terrace for cooling down, a club room for activities such as remote work, and a shared car.

The house will be built in line with the A energy class requirements, and solar panels will be mounted on the roof to generate some of the energy required by the property. Apartment-specific monitoring of cold and hot water consumption helps save water. A carbon footprint calculation has been made for the project, helping in the choice of materials that burden the environment less during the construction phase. During construction, only renewable electricity will be used on the construction site and at least 75% of the waste generated on the site will be sorted for recycling. Some of the parking spaces are ready for an electric car charging point. For added comfort, the housing company will be smoke-free, which has also been recorded in its articles of association.

"It is great that we are able to launch a new YIT self-developed project in Kuopio. Kuopion Maaherra will be located right in the heart of Kuopio, within walking distance of everything, and recreational facilities, cafes, cultural events, schools, and health services will be right on the doorstep. There is no better location than this in Kuopio," says YIT's Regional Director Marjaana Nissilä-Ryytty.

Previously, YIT has completed the Asunto Oy Kuopion Hovineito and Asunto Oy Kuopion Ruuturouva projects in the same central area.

Learn more:
Kuopion Maaherra - apartments for sale | YIT.fi

For more information: 
YIT Corporate communications, tel. +358 44 743 7536, press@yit.fi

We build and develop sustainable living environments: functional and attractive homes, future-proof public and commercial buildings, infrastructure to support the green transition as well as industrial, production, and energy facilities to support our customers' processes. YIT's vision is to be the expert partner in developing sustainable homes, spaces, and cities - for a good life. There are approximately 4,100 professionals in our team and our revenue in 2024 was EUR 1.8 billion. YIT Corporation's shares are listed on Nasdaq Helsinki.

Read more: www.yitgroup.com and follow us on Linkedin I X I Instagram I Facebook

YIT's Interim Report January-March 2025

Adjusted operating profit increased in all segments, strong sales development in Residential CEE

First quarter of 2025 in brief

• Order book increased to EUR 3,026 million (31 Dec 2024: 2,941). At the end of the period, 77% of the order book was sold (31 Dec 2024: 79%).

• Revenue decreased to EUR 386 million (412).

• Adjusted operating profit increased to EUR 8 million (-14). The comparison period included an EUR -11 million change in the fair value of equity investments. Adjusted operating profit margin increased to 1.9% (-3.4).

• Operating profit for the period increased to EUR 6 million (-8).

• Operating cash flow after investments decreased to EUR -16 million (1). The cash flow for the comparison period was supported by a net cash inflow of EUR 29 million from the sale of businesses.

• Net interest-bearing debt decreased to EUR 689 million (768), and gearing was 91% (89) at the end of the period.

• In Residential Finland, adjusted operating profit increased to EUR -1 million (-7). Consumer apartment sales decreased to 108 (135) apartments. Consumer apartment starts in the quarter increased to 83 (0). The number of unsold completed apartments decreased to 682 (31 Dec 2024: 700). 

• In Residential CEE, adjusted operating profit increased to EUR 5 million (2). Consumer apartment sales increased to 335 (237) apartments. Consumer apartment starts increased to 546 (478). The number of unsold completed apartments decreased to 273 (31 Dec 2024: 281).

• In Building Construction, adjusted operating profit increased to EUR 2 million (-11). The comparison period included a EUR -10 million change in the fair value of the segment's equity investments.

• In Infrastructure, adjusted operating profit increased to EUR 3 million (1).

• Result for the period was EUR -9 million (-16).

• YIT announced on March 13, 2025, the successful issuance of new EUR 120 million green floating rate senior secured notes. The tenor of the notes is 3 years, and they mature on 20 March 2028. YIT also announced tendering of EUR 91 million senior secured green notes due 15 January 2026 and that it had used its conditional option to extend maturities of its existing revolving credit facility and its term loan facility by one year until year 2027. 

Key figures

Unless otherwise noted, the figures in brackets in this report refer to the corresponding period in the previous year.

Comments from the President and CEO, Heikki Vuorenmaa

"Our performance was in line with our plans in the first quarter of the year. All business segments increased their adjusted operating profit. Our order book increased from the previous quarter. Efficiency improvements and benefits from our transformation program are now clearly visible in our operations throughout the group. This includes strong progress in shortening lead times, tight cost discipline, implementing industrial construction methods, and progress in implementing the new procurement model. We also successfully proceeded with several projects in line with our strategy during the quarter, including entering a new city, Kladno, in the Czech Republic market and starting a new flagship residential project in Espoo, Finland.

We are moving towards reducing our dependence on the Finnish residential market, as we are driving strong growth in Central Eastern Europe. We have established a strong brand position in our operating countries, and our plot portfolio is of high quality. Apartment sales in the Residential CEE segment continued to grow strongly in the first quarter and we launched several new projects. Our Residential CEE operations will play an important strategic role in our business going forward, and the segment will be a strong driver of both volume growth and profitability for the company. 

The recovery of the Finnish residential market has proceeded in line with our expectations. The secondary market is picking up and mortgage drawdowns show positive development. We have started new self-developed projects and will continue the starts as the year progresses. The residential sales mix was favorable in Finland in the first quarter, and the development of reservation rates for apartments in the premarketing phase has been positive. We stay confident that the primary apartment market sales volumes will slightly increase during 2025.

The steady performance continued in the Infrastructure segment in the first quarter, supported by increased volumes, especially in industrial construction. Public sector demand in the infrastructure market is expected to remain at a good level, with many investments currently in the design phase, including defense sector investments. Private sector demand is driven by industrial construction and the transition to renewable energy.

The Building Construction segment improved its results during the first quarter of the year. We have obtained control over the project margin deviations, which supports financial performance. Despite the highly competitive market, we also increased our order book during the quarter by winning both public and private sector projects that support our core competences and expertise.

Satisfied customers are at the core of our strategy. According to the recently published EPSI Rating Residential Construction 2024 survey in Finland, YIT's customer satisfaction and customer loyalty have developed positively. YIT also has the most loyal customers in the construction industry, who are happy to recommend YIT to others. Our customers feel that they get the best value for money from YIT.

According to the Confederation of Finnish Construction Industries RT, all construction sectors are expected to turn into moderate growth this year in Finland. The growth in our Central Eastern European operational markets is expected to continue. There are several indicators, such as declining outlook for mortgage interest rates and stable raw material prices, that are pointing in a favorable direction for us. However, there is historical uncertainty in the global economy, which may impact the consumer confidence. Supported by the measures executed during our transformation program, we are in a better position to withstand the ongoing uncertainty in the global economy."

Results

January-March

YIT's order book increased from the previous quarter to EUR 3,026 million (31 Dec 2024: 2,941). At the end of the quarter, 77% of the order book was sold (31 Dec 2024: 79%).

YIT's revenue decreased from the comparison period to EUR 386 million (412). Revenue increased in Residential CEE and Infrastructure and decreased in Residential Finland and Building Construction.

Adjusted operating profit for the quarter increased to EUR 8 million (-14). The comparison period included an EUR -11 million change in the fair value of equity investments. Adjusted operating profit margin increased to 1.9% (-3.4). Adjusted operating profit increased in all four segments.

YIT's operating profit increased to EUR 6 million (-8). Adjusting items were EUR 2 million in the first quarter (-6). Net finance costs amounted to EUR 14 million (14). The result for the period was EUR -9 million (-16).

Guidance and outlook for 2025

Guidance for 2025

YIT expects its Group adjusted operating profit for continuing operations to be EUR 20-60 million in 2025.

Outlook for 2025

The residential market in the Baltic countries and Central Eastern Europe is expected to continue favorable, contributing positively to Residential CEE segment's capability to generate profit. Timing of the residential project completions may deviate from the original estimates leading to revenue and profit recognition shifting from one quarter or a year to another.

In Finland, the primary apartment market sales volumes are expected to slightly increase during 2025. In Residential Finland segment, low amount of completions during 2025 will limit the segment's capability to generate profit.

In Building Construction, the operational performance is expected to improve. Actions to release capital may have an impact on the segment's profit.

In Infrastructure, the operational performance is expected to remain stable.

Changes in the macroeconomic environment, especially in interest rates, may impact the residential market demand and the fair value of investments. The escalation of geopolitical risks reflected in general uncertainty and demand could have a negative impact on the company's financial position.

Webcast for investors and the media

A webcast in English and an international telephone conference will be arranged on April 29, 2025, at 10:00 a.m. EEST. The results will be presented by Heikki Vuorenmaa, President and CEO of YIT Corporation, and CFO Tuomas Mäkipeska.   

The webcast can be followed at https://yit.events.inderes.com/q1-2025/. A recording of the webcast will be available at the company's website after the event. 

The teleconference can be accessed by registering at: https://palvelu.flik.fi/teleconference/?id=50051805. After the registration, participants will be provided with phone numbers and a conference ID to access the conference. To ask a question, please dial *5 on your telephone keypad to enter the queue. 

The event is targeted for investors, analysts, and the media. Welcome!  

For further information:
Essi Nikitin, Vice President, Investor Relations, YIT Corporation, tel. +358 50 581 1455, essi.nikitin@yit.fi

YIT Corporation

Tuomas Mäkipeska
CFO

Distribution: Nasdaq Helsinki, major media, www.yitgroup.com

We build and develop sustainable living environments: functional and attractive homes, future-proof public and commercial buildings, infrastructure to support the green transition as well as industrial, production, and energy facilities to support our customers' processes. YIT's vision is to be the expert partner in developing sustainable homes, spaces, and cities - for a good life. There are approximately 4,100 professionals in our team and our revenue in 2024 was EUR 1.8 billion. YIT Corporation's shares are listed on Nasdaq Helsinki.

Read more: www.yitgroup.com and follow us on Linkedin I X I Instagram I Facebook

Conveyance of YIT Corporation's own shares under YIT's share-based incentive program

The Board of Directors of YIT Corporation has on 28 April 2025 decided on a directed share issue for the reward payment from the 2022-2024 earning period under YIT Group's Incentive Program.

In the share issue, a maximum of 71,957 YIT Corporation shares will be issued and conveyed without consideration to the key persons participating in the incentive program according to the terms and conditions of the YIT Incentive Program. As the company will use its treasury shares for the reward payments, the total number of shares of the company will not change.

The share-based incentive program and its terms decided by YIT's Board of Directors were disclosed in more detail in a Stock Exchange Release published on 17 March 2020. The purpose of the program is to support the company's strategy and to increase the company's value supplement to existing incentive programs. Rewards will be paid to maximum 99 people belonging to the company's management and personnel for the 2022-2024 earning period.

The decision on the directed share issue is based on the authorisation granted to the Board of Directors by the Annual General Meeting of Shareholders held on 3 April 2025. The shares will be delivered to the incentive program participants on 6 May 2025. After the conveyance of own shares, the company holds 1,413,792 own shares.

For further information, please contact:
Jennie Haasmaa, EVP, People & Culture, YIT Group, puh. 050 369 1178, jennie.haasmaa@yit.fi

Distribution: Nasdaq Helsinki, major media, www.yitgroup.com

We build and develop sustainable living environments: functional and attractive homes, future-proof public and commercial buildings, infrastructure to support the green transition as well as industrial, production, and energy facilities to support our customers' processes. YIT's vision is to be the expert partner in developing sustainable homes, spaces, and cities - for a good life. There are approximately 4,100 professionals in our team and our revenue in 2024 was EUR 1.8 billion. YIT Corporation's shares are listed on Nasdaq Helsinki.

Read more: www.yitgroup.com and follow us on Linkedin I X I Instagram I Facebook

YIT and Pohjola Insurance have agreed on collaboration and the construction of a business property in Tampere

YIT and Pohjola Insurance have signed a collaboration agreement on the construction of a business property as a turnkey construction contract in Hatanpää, Tampere. Pohjola Insurance is the developer and owner of the property. The long-term lease of the space has been agreed with a Finnish company. The scope of the project is about 10,000 gross square meters. The building will house office space on five floors. In the project, YIT acts as the project development company and principal contractor. The parties have agreed that the transaction value will not be published.

In addition, the project involves the construction of a parking facility in the same block. Some of the parking spaces will be used by the neighboring properties, with the facility making parking arrangements in the area easier and more efficient.

"This new project meets the investment needs of Pohjola Insurance, which has a long-term investment plan. The investment will develop the operating conditions of a strong user company in Tampere, while also creating new jobs in the region," said Markku Mäkiaho, Director of OP Real Estate Asset Management Ltd.

"We are pleased that with YIT's service model, we can bring all of our development expertise to support the project and offer the customer and the user of the premises a competitive design solution for further development and implementation together. The project is located in Tampere along good public tram connections. We thank Pohjola Insurance, which as an investor will enable the implementation of this modern office project," said Regional Director Sami Viitanen from YIT.

Plans will be developed in collaboration with the user, and the prerequisites for project implementation will be ensured before the final implementation phase agreement and lease agreement are signed, which is planned to take place in the summer of 2025. The goal is to start the construction of the project entity at the beginning of 2026.

For more information:

YIT Group Communications, tel. +358 44 743 7536, press@yit.fi

Distribution: NASDAQ Helsinki, major media, https://www.yitgroup.com/en

We build and develop sustainable living environments: functional and comfortable real estate as homes, public and commercial buildings for future needs, infrastructure to promote the green transition, and industrial, production and energy facilities to support our customers' processes. YIT's vision is to be the most competent partner in the development of sustainable homes, spaces and cities - for a good life. The company employs around 4 100 professionals, and in 2024 our turnover was EUR 1.8 billion. YIT's shares are listed on Nasdaq Helsinki.

Learn more: https://www.yitgroup.com/en and follow us on LinkedIn I X I Instagram I Facebook

Publishing of YIT Corporation's January-March 2025 Interim Report on April 29, 2025 

YIT Corporation's Interim Report for January-March 2025 will be published on Tuesday, April 29, 2025, at approximately 8:30 a.m. EEST. The stock exchange release and the reporting materials in Finnish and in English will be available at that time on the company's website at www.yitgroup.com/investors. 

A webcast in English and an international telephone conference will be arranged on April 29, 2025, at 10:00 a.m. EEST. The results will be presented by Heikki Vuorenmaa, President and CEO of YIT Corporation, and CFO Tuomas Mäkipeska.   

The webcast can be followed at https://yit.events.inderes.com/q1-2025/. A recording of the webcast will be available at the company's website after the event. 

The teleconference can be accessed by registering at: https://palvelu.flik.fi/teleconference/?id=50051805. After the registration, participants will be provided with phone numbers and a conference ID to access the conference. To ask a question, please dial *5 on your telephone keypad to enter the queue. 

The event is targeted for investors, analysts, and the media. Welcome!   

For further information: 
Essi Nikitin, Vice President, Investor Relations, YIT, tel. +358 50 581 1455, essi.nikitin@yit.fi

Distribution: Nasdaq Helsinki, principal media, www.yitgroup.com  

We build and develop sustainable living environments: functional and attractive homes, future-proof public and commercial buildings, infrastructure to support the green transition as well as industrial, production, and energy facilities to support our customers' processes. YIT's vision is to be the expert partner in developing sustainable homes, spaces, and cities - for a good life. There are approximately 4,100 professionals in our team and our revenue in 2024 was EUR 1.8 billion. YIT Corporation's shares are listed on Nasdaq Helsinki.

Read more: www.yitgroup.com and follow us on Linkedin I X I Instagram I Facebook

According to YIT's Sustainable Urban Environments barometer, the residents of Finland's largest cities (42%) still regard owner-occupied housing as the most attractive option economically, and its importance for the quality of life and flexibility of living is increasingly emphasized. People now want a home that can adapt to different life situations.

An increasing number of city dwellers value efficient use of space more than spaciousness provided by a large home. Functionality of the home and ease of day-to-day chores are increasingly important in housing choices, and according to the barometer, less than a fifth (17%) of all respondents would like to have a larger kitchen or to update their kitchen and its equipment. The next most popular areas for improvement are the bathroom and toilets, where more facilities or space are thought important. The respondents would also like more bedrooms and storage space. One in ten respondents dreams of having a balcony or a sauna in their apartment. This is reflected in the new rise in the popularity of glazed balconies (increase of 5 percentage points from last year). Glazed balconies offer additional space that serves both living and remote work.

The choice between a new and an old property - from renovation worries to modern comfort

When choosing between new and old apartments, special emphasis is placed on different values. For the buyer of a new home, the most important benefits are renovation-free, clean and tidy spaces and modern solutions that facilitate hassle-free day-to-day living.

Reasons for favoring old, renovated apartments include the atmosphere of the building. But at the same time, many homeowners are worried about future repair needs (43%) and the increase in the cost of major renovations (21%).

"Old homes have their own charm - they can offer unique history and architectural traditions that are attractive to many homebuyers. On the other hand, modern solutions, pleasant indoor air and temperature, better energy efficiency and maintenance-free housing make new homes an attractive option, especially from the perspective of future housing. Modern common areas of housing companies also bring flexibility to life," says Pekka Helin, Head of Customerships and Living Services at YIT.

Eco-friendliness is increasingly important in housing

Eco-friendliness is an increasingly important factor in housing. Almost 70% of the respondents valued environmentally friendly heating highly or very highly. Even more (72%) pay attention to the ease of recycling and location within good public transport connections (79%). Also, more than 60% of the respondents thought that a house built or renovated to be energy efficient is a valuable feature. Thus, housing companies' energy investments can have a significant impact on the development of the property's value and the choices of residents.

"The results of the barometer show that Finns no longer think of owner-occupied housing only as an economic investment but also as a lifestyle choice. In an owner-occupied apartment, you are also free to decide on interior design choices, as well as on the style, quality and color scheme.  At YIT, we want to develop owner-occupied housing that not only meets today's requirements but also enables sustainable and adaptable living in the future," explains Helin.

The Sustainable Urban Environments barometer was conducted for the seventh time at the end of 2024. It is targeted at the residents of Helsinki, Espoo, Vantaa, Tampere, Turku, Oulu, Jyväskylä and Kuopio. The number of respondents for the online panel was 1,000 + 350 (separate sample of office workers). The dataset represents the urban population aged 18-80 by gender, age and the size of the cities. Prior Konsultointi was commissioned by YIT to conduct the survey.

Learn more:
Sustainable Urban Environments Barometer | YITGroup.com
Owning your home is considered financially attractive - a sense of community increases commitment to a residential area | YITGroup.com
Research: remote work is common and many companies have scaled down their office spaces to accommodate 60% of their employees | YITGroup.com

For more information:
YIT Group Communications, tel. +358 44 743 7536, press@yit.fi

We build and develop sustainable living environments: functional and comfortable real estate as homes, public and commercial buildings for future needs, infrastructure to promote the green transition, and industrial, production and energy facilities to support our customers' processes. YIT's vision is to be the most competent partner in the development of sustainable homes, spaces and cities - for a good life. The company employs around 4 100 professionals, and in 2024 our turnover was EUR 1.8 billion. YIT's shares are listed on Nasdaq Helsinki.

Learn more: www.yitgroup.com/en and follow us on Linkedin I X I Instagram I Facebook

YIT selected as partner of the Tapiola Swimming Hall renovation and expansion project

The City of Espoo has selected YIT as the executor of the renovation and expansion project of Tapiola Swimming Hall. The agreement is scheduled to be signed after the city's procurement decision in April-May. During the project, all the premises of the Tapiola Swimming Hall as well as the outdoor areas will be repaired and partly built as a new structure. The City of Espoo and YIT will carry out the renovation of the swimming hall in close cooperation, respecting the original architectural layout of the swimming hall and bringing modern technology to the maintenance of the swimming hall's functions.

Preparations for the construction work will begin in May 2025, and according to preliminary estimates, the swimming pool will be completed in the spring of 2028. The value of the project for YIT is approximately EUR 35 million, which will be recorded in the order book of the second quarter of the year after the contract has been signed.

The design and implementation of the project takes into account the cityscape and architectural values of the Tapiola Swimming Hall, which are preserved in accordance with the conservation regulations of the Finnish Heritage Agency and the ELY Centre in connection with the construction. In the project, the 1965 swimming hall building will be repaired and built in accordance with the original look and, as an extension, new technical facilities and dressing rooms will be built. The window of the roof dome of the main pool hall will be preserved. The outdoor area and the extension building completed in 2005 will be repaired. During the project, efforts will also be made to minimize the environmental impact of the construction site, for example, by recycling materials as much as possible and taking into account their service life, reparability and environmental stress when selecting solutions.

"We are pleased that YIT has been selected as the main contractor for the project of the Tapiola Swimming Hall, which is of regional and cultural historical value. We look forward to the opportunity to make the swimming hall available to Espoo residents again in cooperation with the city. The starting point of the renovation and expansion project is to respect the original look of the swimming hall and bring in technology that meets current requirements. Due to the central location of the project, our goal is to work closely with the residents and communities in the area during the construction work ," said Aleksi Laine, Head of YIT's Infra segment.

"The Tapiola Swimming Hall is much more than a swimming hall, as it is an essential part of Tapiola's cultural environment, the value of which will improve even further with the renovation and construction of the swimming hall," said Olli Isotalo, Director of Urban Environment in Espoo.

The Tapiola Swimming Hall, located near the Tapiola Central Pool, was completed in 1965 and was designed by architect Aarne Ervi as a significant part of the Tapiola Central Area and the cultural environment. The swimming pool has been out of use for the public since 2016.

For further information:

YIT Group Communications, tel. +358 44 743 7536, press@yit.fi
Olli Isotalo, Head of Urban Environment Division, City of Espoo, olli.isotalo@espoo.fi

Distribution: Nasdaq Helsinki, major media, www.yitgroup.com

We build and develop sustainable living environments: functional and attractive homes, future-proof public and commercial buildings, infrastructure to support the green transition as well as industrial, production, and energy facilities to support our customers' processes. YIT's vision is to be the expert partner in developing sustainable homes, spaces, and cities - for a good life. There are approximately 4,100 professionals in our team and our revenue in 2024 was EUR 1.8 billion. YIT Corporation's shares are listed on Nasdaq Helsinki.

Read more: www.yitgroup.com and follow us on Linkedin I X I Instagram I Facebook 

YIT Corporation's Board of Directors decided the composition of its committees

YIT Corporation's Board of Directors held its organizational meeting on April 3, 2025. In the meeting, the Board decided on the composition of the Audit Committee and the Personnel Committee as well as the Investment and Project Committee.

From among its number, the Board elected Jyri Luomakoski as chairperson and Anders Dahlblom, Sami Laine and Leena Vainiomäki as members of the Audit Committee. The Audit Committee assists the Board of Directors in the supervision of the Group's reporting and accounting processes. Its duties include overseeing the financial reporting process of the company and the effectiveness of internal control, internal audit and risk management systems, in addition to monitoring and assessing the audit. The committee participates in the preparation of the Group's financing policy, financing plan and financing arrangements. In addition, the committee reviews the financial statements and interim and half-year reports, assesses compliance with laws and regulations, and monitors the audit and the Group's financial situation.

From among its number, the Board elected Kerttu Tuomas as chairperson and Jyri Luomakoski and Leena Vainiomäki as members of the Personnel Committee. The task of the Personnel Committee is to assist the Board of Directors in matters related to the appointing and rewarding key personnel. Its duties include preparing proposals for the development of corporate culture and personnel policy and terms of remuneration and incentive schemes, as well as the performance bonus rules and performance bonuses for the management. The committee oversees the talent identification process, key personnel development, and succession planning for the management, in addition to preparing the remuneration policy and the remuneration report for governing bodies.

From among its number, the Board elected Casimir Lindholm as chairperson and Anders Dahlblom and Sami Laine as members of the Investment and Project Committee. The Investment and Project Committee discusses and prepares for the Board of Directors significant tenders, property development projects, plot and area project investments and divestments, acquisitions, disposals and equity investments. It also monitors the related portfolios, financial reporting and risk management.

For further information:
Juha Jauhiainen, Corporate General Counsel, YIT Corporation, tel. +358 40 725643,  juha.jauhiainen@yit.fi

YIT Corporation

Tuomas Mäkipeska
CFO

Distribution: Nasdaq Helsinki, major media, www.yitgroup.com

We build and develop sustainable living environments: functional and attractive homes, future-proof public and commercial buildings, infrastructure to support the green transition as well as industrial, production, and energy facilities to support our customers' processes. YIT's vision is to be the expert partner in developing sustainable homes, spaces, and cities - for a good life. There are approximately 4,100 professionals in our team and our revenue in 2024 was EUR 1.8 billion. YIT Corporation's shares are listed on Nasdaq Helsinki.

Read more: www.yitgroup.com and follow us on Linkedin I X I Instagram I Facebook

Resolutions passed at the Annual General Meeting of YIT Corporation 

The Annual General Meeting of YIT Corporation held today, April 3, 2025, adopted the 2024 financial statements and discharged the members of the Board of Directors and the President and CEO from liability. The Annual General Meeting approved the Remuneration Report for the company's governing bodies for the financial year 2024. The Annual General Meeting also decided on the composition of the Board of Directors and their fees, as well as authorizing the Board of Directors to decide on the repurchase of company shares and share issues.  

Distribution of dividends  

The Annual General Meeting decided to approve the proposal of the Board of Directors to not distribute dividend. 

Remuneration report  

Remuneration report for the company's governing bodies for the financial year 2024 was presented to the Annual General Meeting. The Annual General Meeting decided to approve the remuneration report. The decision was advisory. 

Composition of the Board of Directors and their fees  

The Annual General Meeting resolved to elect a Chairperson, Vice Chairperson and four ordinary members to the Board of Directors for a term ending at the close of the next Annual General Meeting following their election, namely: Jyri Luomakoski re-elected as the Chairperson, Casimir Lindholm re-elected as the Vice Chairperson and Anders Dahlblom, Sami Laine, Kerttu Tuomas and Leena Vainiomäki re-elected as members.   

It was resolved that the members of the Board of Directors be paid the following fixed annual fees for the term of office ending at the conclusion of the next Annual General Meeting:  

Chairperson of the Board: EUR 105,000  

Vice Chairperson and Chairpersons of the permanent Committees: EUR 73,500, unless the same person is Chairperson of the Board or Vice Chairperson of the Board and  

members EUR 52,500.  

In addition, it was decided that the annual remuneration for the members of the Board of Directors shall be paid in company shares so that 40% of the annual fee is paid in YIT Corporation shares to be purchased on the Board members' behalf from the market at a price determined in public trading from a regulated market (Nasdaq Helsinki Ltd). The shares will be purchased within two weeks of the publication of the Interim Report for the period 1 January-31 March 2025 or on the first possible date under applicable law. The company will pay any costs related to the purchase of company shares.  

In addition to the fixed annual fee, the members of the Board and its permanently and temporarily appointed committees be paid a meeting fee of EUR 800 per meeting, also for meetings of the Board and its committees held via electronic remote connections or by telephone.   

The Chairperson of the Board and the Chairperson of the permanent and temporarily appointed committees be paid a meeting fee of EUR 1,600 per meeting. Per diems are paid for trips in Finland and abroad in accordance with YIT Corporation's and tax authorities' travelling compensation regulations.  

The members of the Shareholders' Nomination Board, including the expert member, will be paid a meeting fee of EUR 800 per a Board meeting and the Chairperson be paid EUR 1,600 per a Board meeting.  

Election of the auditor 

Ernst & Young Oy, Authorised Public Accountants, was elected as the auditor for the financial year 2025, with Mikko Rytilahti, APA, serving as the chief auditor. It was also resolved that the auditor's fee was to be paid according to their invoice approved by the Company. 

Election of the sustainability auditor 

Ernst & Young Oy, Authorized Sustainability Audit Firm, was elected as the Company's sustainability auditor for the financial year 2025, with Mikko Rytilahti, ASA, serving as the chief sustainability auditor. It was also resolved that the sustainability auditor's fee was to be paid according to their invoice approved by the Company. 

Repurchase of the company's own shares  

The Annual General Meeting authorized the Board of Directors to decide on the purchase of company shares as proposed by the Board of Directors. The authorization covers the purchasing of a maximum of 23,000,000 company shares using the company's unrestricted equity. The authorization reverses the authorization to purchase the company's own shares issued by the Annual General Meeting on March 14, 2024. 

The authorization is valid until June 30, 2026.  

Share issues  

The Annual General Meeting authorized the Board of Directors to decide on share issues as proposed by the Board of Directors. The authorization can be used in full or partially by issuing shares in the company in one or more tranches so that the maximum number of shares issued is a total of 23,000,000. The Board of Directors has the right to decide on all terms and conditions of issuing shares.  

The authorization reverses the authorization to decide on share issues by the Annual General Meeting on March 14, 2024.   

The authorization is valid until June 30, 2026.  

Other information  

On April 3, 2025, the total number of YIT shares is 232,059,853 and YIT holds 1,485,749 of its own shares.  

The minutes of the Annual General Meeting will be available on the Internet at the company's website www.yitgroup.com by April 17, 2025, at the latest.  

For further information: 
Juha Jauhiainen, Corporate General Counsel, YIT Corporation, tel. +358 40 725 643,  juha.jauhiainen@yit.fi

YIT Corporation 

Tuomas Mäkipeska 
CFO 

Distribution: Nasdaq Helsinki, major media, www.yitgroup.com  

We build and develop sustainable living environments: functional and comfortable real estate as homes, public and commercial buildings for future needs, infrastructure to promote the green transition, and industrial, production and energy facilities to support our customers' processes. YIT's vision is to be the most competent partner in the development of sustainable homes, spaces and cities - for a good life. The company employs around 4 100 professionals, and in 2024 our turnover was EUR 1.8 billion. YIT's shares are listed on Nasdaq Helsinki. 

Read more: www.yitgroup.com and follow us on Linkedin I X I Instagram I Facebook

YIT has signed a contract for renovation of a shopping centre in Vilnius, Lithuania

YIT and Lithuanian JSC Limada have signed a tender based contract for renovation of a shopping centre named Mada in Vilnius, Lithuania. The value of the contract is approximately EUR 47 million which will be recorded in the order book of the second quarter of the year.

The scope of the project is approximately 43 000 square meters and it consists of renovation of the shopping centre building and a construction of a parking lot area. After the renovation the building will meet energy class A requirements.

The project planning and design phase starts in March 2025. The construction works will be started in September 2025, and the work is scheduled to be completed in August 2027.

For more information:
YIT Group Communications, tel. +358 44 743 7536, press@yit.fi
 
Distribution: NASDAQ Helsinki, major media, www.yitgroup.com/fi
 
We build and develop sustainable living environments: functional and comfortable real estate as homes, public and commercial buildings for future needs, infrastructure to promote the green transition, and industrial, production and energy facilities to support our customers' processes. YIT's vision is to be the most competent partner in the development of sustainable homes, spaces and cities - for a good life. The company employs around 4 100 professionals, and in 2024 our turnover was EUR 1.8 billion. YIT's shares are listed on Nasdaq Helsinki.

 Learn more: www.yitgroup.com/fi and follow us on LinkedIn I X I Instagram I Facebook

YIT restates financial information for 2024 reflecting the change in the segment structure

YIT announced on November 13, 2024, in accordance with the publishing of the new strategy and financial targets, that it had decided to change its segment structure from January 1, 2025, onwards to ensure and support the targeted growth and resilience. YIT has restated financial information for 2024 to reflect the changes. The restated segment financial information for 2024 is presented in the tables attached to this release. The information is unaudited.

To enhance focus and transparency and to accelerate the speed of strategy execution in the residential operations, the Housing segment was divided into two separate operating segments and renamed to Residential Finland and Residential CEE. Business Premises segment was renamed to Building Construction. From 1 January 2025 onwards, YIT has four operating segments: Residential Finland, Residential CEE, Building Construction and Infrastructure. 

YIT will change its segment reporting to correspond to the new structure starting from the Interim Report 1-3/2025.

For further information:
Essi Nikitin, Vice President, Investor Relations, YIT Corporation, tel. +358 50 581 1455, essi.nikitin@yit.fi

YIT Corporation

Tuomas Mäkipeska
CFO

Distribution: Nasdaq Helsinki, major media, www.yitgroup.com

We build and develop sustainable living environments: functional and attractive homes, future-proof public and commercial buildings, infrastructure to support the green transition as well as industrial, production, and energy facilities to support our customers' processes. YIT's vision is to be the expert partner in developing sustainable homes, spaces, and cities - for a good life. There are approximately 4,100 professionals in our team and our revenue in 2024 was EUR 1.8 billion. YIT Corporation's shares are listed on Nasdaq Helsinki.

Read more: www.yitgroup.com and follow us on Linkedin I X I Instagram I Facebook

YIT starts the construction of the Salvia building in the Meilahti hospital area in Helsinki

YIT and HUS Kiinteistöt Oy have signed an order on the construction phase of a new building, named Salvia building, and will start the construction work. The project was commissioned by HUS Group, the joint authority for Helsinki and Uusimaa and developed by HUS Kiinteistöt Oy, and it will be implemented in the Meilahti hospital area in Helsinki as Integrated Project Delivery. During the development phase, the contract's target budget was set at approximately 119 million euros, which will be recorded in YIT's order book for the first quarter of 2025.

The construction phase was preceded by a development phase lasting about a year, during which the scope of the project was defined. At this stage, the parking facility planned under the building had to be removed due to the mechanical characteristics of the rock on the construction site. The new building will include premises for Meilahti's pharmacy and central kitchen, and the scope of the project is approximately 24,000 gross square meters. The property will have three above-ground floors for operations and a ventilation machine room floor. The contract also encompasses the construction of the property's yard area. The new facilities will enable the centralization of pharmacy operations and the streamlining of pharmaceutical delivery and manufacturing processes.

"The collaborative project management contract was chosen as the project format since this has proved successful in our large investment projects. Involving the main contractor in the development phase as early as possible, as well as all parties working on the project, will bring the best result," says Carl Sirén, Director of Construction Development from HUS Kiinteistöt Oy.

Particular attention has been paid to the property's carbon footprint, a significant part of which consists of the energy consumption of the property. An energy recycling system has been designed for the site, which significantly improves the building's energy efficiency.

"The Salvia building will provide HUS services with key support services, such as high-quality pharmaceutical care and nutrition services. The new modern facilities enable the improvement of the efficiency of the pharmacy and kitchen. Special attention is also paid to low-carbon choices in line with our strategic objectives. The Salvia building utilizes local renewable energy, such as geothermal and solar energy, and explores the possibility of using low-carbon building materials," says Juha Tiuraniemi, CEO of HUS Kiinteistöt Group.

"It is great that we are now able to start the construction work for the project. The Salvia building will be located between the New Children's Hospital, the Park Hospital, the Service Center and the A wing of the Women's Hospital. The new building is functionally and structurally connected to the nearby properties and underground facilities, and it requires the improvement of the load-bearing capacity of the deck structures of the tunnels running under the yard areas. In the development phase of the project, the measures required by the specific characteristics of the project were planned in seamless collaboration, which facilitates work in the implementation phase," says VP Matti Sarikkola from YIT.

The construction of the Salvia building, which will replace the HUS' old administrative building, will start in April, and the work is scheduled to be completed in spring 2029.

See also:
YIT selected as the partner for the development phase of the new building for the Meilahti pharmacy, central kitchen and parking facility | YITGroup.com

For more information:
YIT Group Communications, tel. +358 44 743 7536, press@yit.fi
 
Distribution: NASDAQ Helsinki, major media, www.yitgroup.com/fi
 
We build and develop sustainable living environments: functional and comfortable real estate as homes, public and commercial buildings for future needs, infrastructure to promote the green transition, and industrial, production and energy facilities to support our customers' processes. YIT's vision is to be the most competent partner in the development of sustainable homes, spaces and cities - for a good life. The company employs around 4 100 professionals, and in 2024 our turnover was EUR 1.8 billion. YIT's shares are listed on Nasdaq Helsinki.

Learn more: www.yitgroup.com/fi and follow us on LinkedIn I X I Instagram I Facebook

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, HONG KONG, JAPAN, NEW ZEALAND, SINGAPORE, SOUTH AFRICA OR SUCH OTHER COUNTRIES OR OTHERWISE IN SUCH CIRCUMSTANCES IN WHICH THE OFFERING OF THE NEW NOTES OR THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

Listing prospectus for YIT's EUR 120 million green senior secured notes is available and YIT uses its option to extend maturities of its bank facilities with one year

YIT Corporation ("YIT") announced on 13 March 2025 its decision to issue EUR 120 million green floating rate senior secured notes (the "New Notes"). The New Notes mature on 20 March 2028, and they carry a margin of 4.75 per cent per annum over 3 months Euribor. The issue price of the New Notes is 100 per cent.

The Finnish Financial Supervisory Authority has today approved the listing prospectus of the New Notes. The prospectus is available later today in English on YIT's website at https://www.yitgroup.com/en/investors/financial-information/debt-investors.

YIT has today submitted an application for the New Notes to be admitted to trading on the list of sustainable bonds of Nasdaq Helsinki Ltd. Trading on the New Notes is expected to commence on or about 24 March 2025, under the trading code YITJVAIH28.

In addition, YIT announces that it has used its conditional option to extend maturities of its existing revolving credit facility originally dated 22 June 2021 and its term loan facility originally dated 21 November 2023 by one year until January 2027. YIT's agreement with its main lenders concerning, among other things, the conditional extension option was announced on 12 March 2024.

Danske Bank A/S, OP Corporate Bank plc and Skandinaviska Enskilda Banken AB (publ) act as Global Coordinators and Joint Bookrunners and Swedbank AB (publ) acts as a Joint Bookrunner for the issue of the New Notes.

Further information, please contact:
Markus Pietikäinen, SVP, Treasury and M&A, YIT Corporation, tel. +358 40 525 3024, markus.pietikainen@yit.fi

YIT CORPORATION

Tuomas Mäkipeska
CFO

Distribution: Nasdaq Helsinki, major media, www.yitgroup.com

We build and develop sustainable living environments: functional and attractive homes, future-proof public and commercial buildings, infrastructure to support the green transition as well as industrial, production, and energy facilities to support our customers' processes. YIT's vision is to be the expert partner in developing sustainable homes, spaces, and cities - for a good life. There are approximately 4,100 professionals in our team and our revenue in 2024 was EUR 1.8 billion. YIT Corporation's shares are listed on Nasdaq Helsinki.  

Read more: www.yitgroup.com and follow us on Linkedin I X I Instagram I Facebook

Important Information

The information contained herein is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into the United States, Australia, Canada, Hong Kong, Japan, New Zealand, Singapore, South Africa or such other countries or otherwise in such circumstances in which the release, publication or distribution would be unlawful. The information contained herein does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, the New Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction. No actions have been taken to register or qualify the New Notes, or otherwise to permit a public offering of the New Notes, in any jurisdiction.

This communication does not constitute an offer of New Notes for sale in the United States. The New Notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") or under the applicable securities laws of any state of the United States, and the New Notes may not be offered, sold, pledged or otherwise transferred, directly or indirectly, within the United States or to, or for the account or benefit of, any U.S. person (as such terms are defined in Regulation S under the Securities Act) except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.

This communication does not constitute an offer of New Notes to the public in the United Kingdom. No prospectus has been or will be approved in the United Kingdom in respect of the New Notes. Consequently, this communication is addressed to and directed only at persons in the United Kingdom in circumstances where provisions of section 21(1) of the Financial Services and Markets Act 2000 as amended, do not apply and are solely directed at persons in the United Kingdom who (i) have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order"), (ii) are persons falling within Article 49(2)(a) to (d) of the Order, or (iii) are other persons to whom it may be otherwise lawfully communicated (all such persons together being referred to as "relevant persons"). This release is directed only at relevant persons and any person who is not a relevant person must not act or rely on this release or any of its contents.