NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, HONG KONG, JAPAN, NEW ZEALAND, SINGAPORE, SOUTH AFRICA OR SUCH OTHER COUNTRIES OR OTHERWISE IN SUCH CIRCUMSTANCES IN WHICH THE OFFERING OF THE NEW NOTES, OR THE CAPITAL SECURITIES, THE TENDER OFFER OR THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

YIT Announces Indicative Tender Offer Results for its outstanding notes due 2021 and 2023

YIT Corporation announces today the indicative results of the invitation to the holders of its EUR 100 million 3.150 per cent notes due 11 June 2021 (ISIN: FI4000330824) (the "2021 Notes") and EUR 150 million 4.250 per cent notes due 11 June 2023 (ISIN: FI4000330832) (the "2023 Notes" and, together with the 2021 Notes, the "Notes") to tender the Notes for cash on the terms and conditions set out in the Tender Offer Memorandum dated 16 March 2021.

The offer period for the Tender Offer expired at 4:00 p.m. Finnish time (EET) on 24 March 2021. At the expiration deadline, the aggregate nominal amount of the Notes validly tendered by the noteholders for purchase was EUR 96.53 million for the 2021 Notes and EUR 104.84 million for the 2023 Notes.

Pursuant to the Tender Offer, the company has reserved the right, in its sole discretion, to decide on the acceptance for purchase of the Notes, including not to accept any purchase of the tendered Notes. Whether the company will purchase any Notes is subject to, without limitation, the pricing of the issue of the New Notes and the execution of an Issuance Agreement between the Joint Lead Managers and the company. If the company chooses to accept the Notes tendered for purchase pursuant to the Tender Offer, tender instructions are indicatively expected to be accepted in full. The company expects to announce the final results of the Tender Offer, and whether the new issue condition has been fulfilled or not, as soon as feasible, but at the latest on 31 March 2021.

OP Corporate Bank plc acts as Dealer Manager and Tender Agent for the Tender Offer. Information in respect of the Tender Offer may be obtained from the Dealer Manager.

Dealer Manager:
OP Corporate Bank plc, +358 50 599 1281, liabilitymanagement@op.fi

Tender Agent:
OP Corporate Bank plc

Additional information:
Karo Nukarinen, SVP, Treasury, YIT Corporation, tel. +358 50 564 0920, karo.nukarinen@yit.fi
Tommi Järvenpää, VP, Investor Relations, YIT Corporation, tel. +358 40 576 0288, tommi.jarvenpaa@yit.fi

YIT CORPORATION

Tommi Järvenpää
Vice President, Investor Relations

Distribution: Nasdaq Helsinki, major media, www.yitgroup.com

YIT is the largest Finnish and a significant North European urban developer and construction company. Our goal is to create more sustainable, functional and attractive cities and living environments. We develop and build apartments, business premises and entire areas. We also specialise in demanding infrastructure construction. We own properties together with our partners, which supports the implementation of our significant development projects. We also provide our customers with services that increase the value of properties. We employ approximately 7,400 professionals in ten countries: Finland, Russia, Sweden, Norway, Estonia, Latvia, Lithuania, the Czech Republic, Slovakia and Poland. Our revenue in 2020 was approximately EUR 3.1 billion. YIT Corporation's share is listed on Nasdaq Helsinki Oy. www.yitgroup.com

Important Information

The information contained herein is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into the United States, Australia, Canada, Hong Kong, Japan, New Zealand, Singapore, South Africa or such other countries or otherwise in such circumstances in which the release, publication or distribution would be unlawful. The information contained herein does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, the New Notes or Capital Securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction. No actions have been taken to register or qualify the New Notes or the Capital Securities, or otherwise to permit a public offering of the New Notes or Capital Securities, in any jurisdiction.

This communication does not constitute an offer of securities for sale in the United States. The New Notes and Capital Securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") or under the applicable securities laws of any state of the United States and may not be offered, sold, pledged or otherwise transferred, directly or indirectly, within the United States or to, or for the account or benefit of, any U.S. person (as such terms are defined in Regulation S under the Securities Act) except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.

This communication does not constitute an offer of New Notes or Capital Securities to the public in the United Kingdom. No prospectus has been or will be approved in the United Kingdom in respect of the New Notes or Capital Securities. Consequently, this communication is addressed to and directed only at persons in the United Kingdom in circumstances where provisions of section 21(1) of the Financial Services and Markets Act 2000 as amended, do not apply and are solely directed at persons in the United Kingdom who (a) have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (b) persons falling within Article 49(2)(a) to (d) of the Order, or other persons to whom they may be lawfully communicated (all such persons together being referred to as "relevant persons"). This release is directed only at relevant persons and any person who is not a relevant person must not act or rely on this release or any of its contents.