Nokian Tyres recalculates sustainability performance baseline under its EUR 100 million Sustainability-linked Bond (ISIN FI4000556444) and publishes its Annual Sustainability-linked Bond Report

Nokian Tyres plc Stock Exchange Release April 28, 2026, at 6:15 p.m. EEST

Nokian Tyres plc (the "Company") has issued EUR 100,000,000 senior unsecured sustainability-linked notes in June 2023 with ISIN FI4000556444 (the "Notes"). The Notes bear a fixed annual interest rate of 5.125% (the "Initial Rate of Interest") and will mature on June 14, 2028. The Notes are structured around two key performance indicators and corresponding sustainability performance targets ("SPTs") tested on December 31, 2025 and reported no later than on April 30, 2026 (the "Reporting End Date"): SPT 1, targeting a reduction in Scope 1 and 2 greenhouse gas ("GHG") emissions intensity, and SPT 2, targeting a reduction in Scope 3 GHG emissions intensity from product use, both measured as CO₂e tons per production ton against a 2022 baseline (the "Emissions Condition").

Pursuant to Condition 4.2 (Step Up Margin) of the Terms and Conditions, the Company has decided to recalculate the SPTs and the related baseline intensity figures as a result of a Sustainability Recalculation Event. A Sustainability Recalculation Event exists, among other things, in the event of material disposals which result in a change to the value of the relevant emissions intensity by at least 5%. A further condition is that, in the reasonable opinion of the Company, the recalculation has no material adverse effect on the interests of the Noteholders. Recalculation is also permitted under Section 2.6 (Recalculation policy) of the Company's Sustainability-linked Bond Framework. The main driver for the recalculation is that the 2022 baseline figures set out in the Terms and Conditions include the Company's Russian operations, which were disposed of in March 2023. Because the Company's current emissions reporting does not include the divested Russian operations, the original baseline figures are not comparable with the Company's current reported emissions data. The inclusion of the Russian operations in the 2022 baselines resulted in SPT 1 being unduly easy to achieve whilst SPT 2 unduly difficult. The recalculation corrects this imbalance while maintaining the same ambition in terms of percentage reduction under both SPTs.

The recalculated 2022 baseline figures have been assured by the External Verifier. For SPT 1, the Scope 1 and 2 emissions intensity baseline has been recalculated from 0.42 to 0.22 t CO₂e per production ton, with the 2025 threshold remaining at a 25% reduction and the recalculated 2030 target set at 0.08 t CO₂e per production ton, representing a 65% reduction. For SPT 2, the Scope 3 emissions intensity baseline has been recalculated from 23.71 to 28.61 t CO₂e per production ton, with the 2025 threshold remaining at a 7% reduction and the recalculated 2030 target set at 22.89 t CO₂e per production ton, representing a 20% reduction. By the testing date, the Company's Scope 1 and 2 emissions intensity had been reduced by 47% and Scope 3 emissions intensity from product use by 19%. Consequently, Step Up Event (as defined in the Terms and Conditions) with respect to the interest payable on the Notes has not occurred and the interest rate remains at 5.125% for the remaining maturity of the Notes.

The Company will publish the Annual Sustainability-linked Bond Report, which will be available on the Company's website at company.nokiantyres.com/investors/financial-information/debt-information on April 30, 2026 at the latest.

Further information:

Timo Koponen, CFO, tel: +358 10 401 7000

Investors: [email protected]

Nokian Tyres' purpose is to make the world safer by reinventing tires, and how they are made, over and over again - a safer place to drive, work and live now and for generations to come. Inspired by our northern heritage, we develop and manufacture premium tires for passenger cars, trucks and heavy machinery with sustainability at the heart of all our operations. Our Vianor chain provides tire and car services. We are some 4,000 people with net sales of EUR 1.4 billion in 2025, and together we lead the journey to smarter driving for people and for businesses. Nokian Tyres is listed on Nasdaq Helsinki.
Further information: company.nokiantyres.com, www.nokiantyres.com.