PPG Extends Tender Offer Period for Tikkurila - Seite 3

As set out in the terms and conditions of the Tender Offer, one of the conditions for the completion of the Tender Offer is the receipt of necessary approvals from competition and other regulatory authorities. As previously announced, both the European Commission and the Ministry of Economic Affairs and Employment of Finland have granted approval for the completion of the Tender Offer. The Offeror hereby announces that the Agency for Protection and Development of Competition of the Republic of Kazakhstan has also granted approval for PPG’s acquisition of Tikkurila’s Shares. The approval is an important milestone and further enhances the certainty of PPG completing the Tender Offer.

However, as approval for the acquisition of Tikkurila’s Shares from the Federal Antimonopoly Service of Russia still remains pending and is not expected to be received by the expiration of the current offer period, the Offeror has decided to extend the offer period for the Tender Offer to expire on 11 May 2021, at 4:00 p.m. (Finnish time), unless the offer period is extended further or any extended offer period is discontinued in accordance with the terms and conditions of the Tender Offer.

PPG anticipates receiving the approval of the Federal Antimonopoly Service of Russia for the acquisition of Tikkurila’s Shares within the extended offer period. Other than the receipt of necessary regulatory approvals, the Tender Offer is subject to customary conditions to completion set out in the tender offer document, including the valid acceptance of the Tender Offer with respect to Shares representing, together with Shares otherwise held by the Offeror and any of its subsidiaries, more than 66.7% of the Shares and voting rights in the Company.

PPG will provide additional updates on or shortly after the extended offer period expires on 11 May 2021 and expects to complete the Tender Offer shortly thereafter.

Shareholders who have already tendered their Shares in the Tender Offer do not have to re-tender their Shares or take any other action as a result of the extension of the offer period.

The Offeror will supplement the tender offer document to reflect the information contained in this release (as applicable) and will publish such supplement document once it has been approved by the Finnish Financial Supervisory Authority.

Advisers

The Offeror has appointed PJT Partners LP as financial adviser and Wachtell, Lipton, Rosen & Katz and DLA Piper Finland Attorneys Ltd. as legal advisers in connection with the Tender Offer. The Offeror has appointed Danske Bank A/S, Finland Branch as the arranger of the Tender Offer and D.F. King Ltd and D.F. King Co., Inc. as the information agents in connection with the Tender Offer. Tikkurila has appointed Skandinaviska Enskilda Banken AB (publ), Helsinki branch as financial adviser and Hannes Snellman Attorneys Ltd as legal adviser in connection with the Tender Offer.