Voluntary public tender offer to the shareholders of Musti Group Oyj (FI) by a consortium led by Sonae – EUR 868 million

Carnegie issued a fairness opinion to the Board of Directors of Musti Group in relation to the voluntary public cash tender offer by a consortium comprising Sonae – SGPS, S.A., Jeffrey David, Johan Dettel and David Rönnberg through Flybird Holding Oy for all shares in Musti Group. The Board of Directors of Musti Group is represented by a quorum comprising the non-conflicted members of the Board of Directors who are not members of the consortium.