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2016-10-20

Lemminkäinen: Legal proceedings concerning damages related to the asphalt cartel: Lemminkäinen to receive reimbursement approx. EUR 14 million in capital

LEMMINKÄINEN CORPORATION STOCK EXCHANGE RELEASE 20 OCTOBER 2016 AT 9:50 A.M.

LEGAL PROCEEDINGS CONCERNING DAMAGES RELATED TO THE ASPHALT CARTEL:
LEMMINKÄINEN TO RECEIVE REIMBURSEMENT APPROX. EUR 14 MILLION IN
CAPITAL

On 20 October 2016, the Helsinki Court of Appeal gave its decisions
concerning the damages related to the asphalt cartel.

Of those 25 claims, where Lemminkäinen was the only defendant, the
Court of Appeal ordered Lemminkäinen to pay 18 claimants damages
approximately EUR 6 million in capital, which is approximately EUR 9
million less than the District Court had ordered.

As regards the 12 other claims, where Lemminkäinen and other asphalt
industry companies were defendants, the Court of Appeal ordered the
defendants to pay 8 claimants damages approximately EUR 14 million in
capital, which is approximately EUR 5 million less than the District
Court had ordered. In these claims, Lemminkäinen's liability to pay
is partly joint and several together with other defendants.

Contrary to the decisions of the District Court, the claims of the
State of Finland and one municipality were partly accepted. These
decisions are included in the figures above.

The defendants were ordered to pay interest and legal expenses
approximately EUR 3-7 million less than the District Court had
ordered. Lemminkäinen's liability to pay is partly joint and several
together with other defendants.

Lemminkäinen will later specify the amount of the total reimbursement
which it is entitled to receive (capital, interest and legal
expenses) based on the decisions of the Court of Appeal. Lemminkäinen
will record the reimbursement as income in its fourth-quarter result.

"We are satisfied with the decisions of the Court of Appeal to the
extent our appeals were accepted. Our daily operations will continue
as planned, focusing on step by step improving our operational result
and competitiveness in all our operations," says Casimir Lindholm,
President and CEO of Lemminkäinen.

Lemminkäinen has as such deemed the claims for damages unfounded.
Lemminkäinen will carefully study the decisions of the Court of
Appeal. After this, the company will decide whether there are grounds
for requesting leave of appeal from the Supreme Court. Lemminkäinen
has 60 days to make such a request to the Supreme Court. The company
will announce its decision separately once it has been made.

Background

In 2009 the Supreme Administrative Court ordered seven Finnish asphalt
industry companies (Lemminkäinen, Valtatie, Skanska Asfaltti, NCC/
Interasfaltti, Rudus Asfaltti, SA-Capital and Super Asfaltti) to pay
an infringement fine due to violations of competition legislation
during the years 1994-2002. The infringement fine imposed on
Lemminkäinen was EUR 68 million.

On 28 November 2013, the District Court of Helsinki issued its
decisions concerning damages related to the asphalt cartel. In line
with the decisions, Lemminkäinen recorded approximately EUR 66
million in expenses in its 2013 result. Of this, approximately EUR 60
million consisted of damages ordered to be paid only by Lemminkäinen,
Lemminkäinen's share of the damages ordered to be paid jointly and
severally by Lemminkäinen and other asphalt industry companies, as
well as interest and legal expenses related to the damages. This
amount was paid by the company in January 2014.

Lemminkäinen appealed to the Helsinki Court of Appeal against all 35
decisions in which the plaintiffs' claims were partly accepted. In
Lemminkäinen's opinion, there were some judicial aspects in the
decisions of the District Court, where the conclusions of the
District Court differed from previous legal praxis. Such judicial
aspects were related, among other things, to questions regarding
limitation periods and value added tax.

The Finnish state and 22 municipalities also lodged their appeals to
the Helsinki Court of Appeal.

In addition to the claims, which the Court of Appeal now decided upon,
21 claims for damages are pending before the District Court of
Helsinki. The capital amount of these claims is approximately EUR 26
million.

LEMMINKÄINEN CORPORATION
Corporate Communications

ADDITIONAL INFORMATION:
Casimir Lindholm, President and CEO
Tel. +358 2071 53304
casimir.lindholm@lemminkainen.com

DISTRIBUTION:
Nasdaq Helsinki Ltd
Key media
www.lemminkainen.com

Lemminkäinen is an expert in complex infrastructure construction and
building construction in Northern Europe and one of the largest
paving companies in its market. Together with our customers and 4,800
professionals we employ, we build a sustainable society. In 2015, our
net sales were EUR 1.9 billion. Lemminkäinen Corporation's share is
quoted on Nasdaq Helsinki Ltd. www.lemminkainen.com

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