Cargotec will start to repurchase own shares

CARGOTEC CORPORATION, STOCK EXCHANGE RELEASE, 20 JULY 2023 AT 09:15 AM (EEST)

Cargotec will start to repurchase own shares

Cargotec Corporation's Board of Directors has decided to exercise the authorisation of the Annual General Meeting on 23 March 2023 to repurchase the company's own shares. Cargotec will repurchase 400,000 class B shares to be used as reward payments for Cargotec's share-based incentive programmes. The shares will be purchased at public trading on Nasdaq Helsinki Ltd. at the market price. The repurchases will start on 21 July 2023 at the earliest. According to the authorisation given to the Board of Directors by the Annual General Meeting, the maximum amount of shares that can be acquired is 952,000 class A shares and 5,448,000 class B shares.

On 20 July 2023, Cargotec held a total of 7,043 own class B shares.

Cargotec Corporation

The Board of Directors



For further information, please contact:

Mikko Puolakka, Executive Vice President and CFO, tel. 5

Aki Vesikallio, Vice President, Investor Relations, tel. 0

Cargotec (Nasdaq Helsinki: CGCBV) enables smarter cargo flow for a better everyday with its leading cargo handling solutions and services. Cargotec's business areas Kalmar, Hiab and MacGregor are pioneers in their fields. Through their unique position in ports, at sea and on roads, they optimise global cargo flows and create sustainable customer value. Cargotec has signed the United Nations Global Compact Business Ambition for 1.5°C. The company's sales in 2022 totalled approximately EUR 4.1 billion and it employs around 11,700 people.