INSIDE INFORMATION: Uponor Corporation notes the announcement by Aliaxis S.A. regarding a non-binding intention to make an all cash public tender offer for Uponor

Uponor Corporation, Inside Information, 17 April 2023 at 10:30 am EEST

INSIDE INFORMATION: Uponor Corporation notes the announcement by Aliaxis S.A. regarding a non-binding intention to make an all cash public tender offer for Uponor

Uponor Corporation (“Uponor” or the “Company”) notes the announcement on 17 April 2023 by Aliaxis S.A. (“Aliaxis” or the “Offeror”) regarding a non-binding intention to make an offer to acquire all shares in Uponor at a proposed price of EUR 25.00 per share, corresponding to a premium of approximately 44.6% to the closing price of the Uponor share on Nasdaq Helsinki on 14 April 2023.

The announced potential offer is subject to certain conditions including, satisfactory conclusion of confirmatory due diligence and receipt of a recommendation from the Board of Directors of Uponor, approval of the Board of Directors of Aliaxis and entering into a combination agreement. Completion of any such cash tender offer would in turn be subject to further conditions, including approval by shareholders holding at least 60% of the shares of Uponor and receipt of all necessary regulatory approvals.

The Offeror’s announcement regarding the potential offer has not been co-ordinated with the Board of Directors of Uponor (the “Board”). Uponor confirms it has received a non-binding intention from Aliaxis to make an all cash public tender offer for Uponor. The earlier discussions referred to by Aliaxis were terminated during 2022. The Board, together with its advisors, will assess the new non-binding intention to make an offer and whether it is in the best interest of shareholders of the Company. At this time, Uponor has made no decisions in respect of the potential offer.

On 15 February 2023, Uponor announced a Group-wide Strategic Transformation Programme. The Board remains focused on pursuing the Company’s strategy. It believes that Uponor enjoys strong performance under its new management, and, with its recently renewed strategy, has a strong position for future profitable growth.

Uponor will release further information at an appropriate time. There can be no assurance that the potential offer will result in any public tender offer or any other transaction.

Uponor Corporation

Hans Sohlström

Board member chairing the board ad hoc committee

Further information:

Franciska Janzon

Senior Vice President, Corporate Communications and IR

Uponor Corporation

Tel. +358 (0)20 129 2821

DISTRIBUTION:

Nasdaq Helsinki

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Uponor in brief

Uponor is a leading global provider of solutions that efficiently and effectively move water through cities, buildings, and homes. We help customers in residential and commercial construction, municipalities, and utilities, be more productive – and continuously find new ways to conserve, manage and provide water responsibly, unlocking its potential to provide comfort, health, and efficiency. Our safe drinking water, energy-efficient radiant heating and cooling systems, and reliable infrastructure solutions are sold in more than 80 countries. Uponor employs about 4,000 professionals in 26 countries in Europe and North America.

In 2022, the company’s net sales totalled approximately €1.4 billion. Uponor Corporation is based in Finland and listed on Nasdaq Helsinki.