Proposed Placing of up to 9.5% of the Total Shares Outstanding of Konecranes Plc by Terex Corporation

Terex Corporation today announced its intention to sell up to 9.5% of the total shares outstanding of Konecranes Plc, corresponding to up to 7.45 million Class A Konecranes shares. Total shares outstanding includes both Class A and Class B Konecranes shares but does not include Konecranes treasury shares.

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The shares are being offered by way of an accelerated bookbuild and the results will be announced as soon as practicable thereafter.

Prior to settlement, the appropriate number of Konecranes unlisted Class B shares held by Terex will be converted into the Class A shares and listed on the Helsinki Stock Exchange.

In accordance with Konecranes’ articles of association and the shareholders agreement dated January 4, 2017, Terex has also agreed to certain transfer restrictions on its Konecranes shares. Konecranes has granted a waiver to certain transfer restrictions, however, which permits all investors, including current shareholders of Konecranes the right to purchase up to 2.486 million shares per institution in this offering.

This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any securities of Konecranes Plc by Terex Corporation or its subsidiaries, nor shall there be any sale of such securities in any state, county or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state, county or jurisdiction. The shares are not registered under the Securities Act of 1933, as amended, or the Securities Act, or under any state securities law and may not be offered or sold in the United States absent registration or an applicable exemption from registration under the Securities Act and applicable state securities laws. The shares will be offered only to qualified institutional buyers in an offering exempt from registration pursuant to Rule 144A under the Securities Act and to persons outside the United States in compliance with Regulation S under the Securities Act.