Tietoevry CorporationINTERIM REPORT     25 April 2024, 9.00 a.m. (EEST)


  · Growth of -2% impacted by a soft macroeconomic environment, high comparison
figures and fewer working days
Healthy growth of 8% in Tietoevry Banking and 4% in Tietoevry Industry
  · Resilient profitability of over 12% supported by improvement in Tietoevry
Banking and continued healthy profitability in Tietoevry Care
  · Strategic review of Tietoevry Banking concluded: Banking continues as a
specialized business in the Group - value currently not maximized through a
listing or sale
  · Strategic review of Tietoevry Tech Services on track with the previously
announced schedule, aiming for conclusion Q2'24

The full interim report with tables is available at the end of this release.

                                                    1-3/2024  1-3/2023
Revenue, EUR million                                733.9     744.3
     Organic growth1), %                            -2        8
     Acquisitions and divestments, %                4         -2
     Foreign exchange rates, %                      -3        -4
Total growth, %                                     -1        2
Organic growth adjusted for working days4), %       -1        8
Operating profit (EBIT), EUR million                62.7      68.7
Operating margin (EBIT), %                          8.5       9.2
Adjusted2) operating profit (EBITA3)), EUR million  88.6      91.9
Adjusted2) operating margin (EBITA3)), %            12.1      12.3
EPS, EUR                                            0.32      0.41
Net cash flow from operations, EUR million          71.8      103.7
Capital expenditure, EUR million                    24.2      20.7

Full-year outlook for 2024 unchanged
Tietoevry expects its organic1) growth to be in the range of 0-3% (revenue in
2023: EUR 2 851.4 million).
The company estimates its full-year adjusted operating margin2) (adjusted
EBITA3)) to be 12.0-13.0% (12.6% in 2023)
1) Adjusted for currency effects, acquisitions and divestments
2) Adjustment items include restructuring costs, capital gains/losses,
impairment charges and other items affecting comparability
3) Profit before interests, taxes and amortization of acquisition-related
intangible assets
4) Company estimate

CEO's comment
Comment regarding the interim report by Kimmo Alkio, President and CEO:

"First-quarter performance was as anticipated, impacted by the soft
macroeconomic environment, high comparison figures and fewer working days. Our
revenue was organically down by 2%. Profitability remained resilient with a
healthy profit margin of over 12% despite the headwinds, including continued
high inflation. Banking business continued to post solid growth of 8% and a year
-on-year improvement in profitability. In Tietoevry Industry, performance
remained healthy with 4% growth and profit margin of over 16%. In Tietoevry
Care, profitability remained at a healthy level whereas performance in Tietoevry
Create was impacted by macroeconomic uncertainty, fewer working days and high
comparison figure. Tietoevry Tech Services' profitability improved from the
prior year. We anticipate that the first quarter represents the lowest growth
rate for 2024 and we expect revenue to return to growth in the second quarter.

During the quarter, we experienced a criminal ransomware attack in one of our
data centres in Sweden. Since the attack, our teams have been working
relentlessly to restore services for our customers. With the exception of
efforts continuing with few customers, all impacted customer services were fully
restored by mid-March. We regret the challenges this criminal attack has caused
to our customers and the Swedish society.

As Tietoevry, we have an active role in promoting future technology and
innovation, and currently we are advancing within the field of generative AI
together with our customers. Our agreement with Helsinki University Hospital is
an exciting example of the development of AI-based solutions. In collaboration
with the client, we are developing an artificial intelligence solution that
enables rapid identification of rare diseases. In Tietoevry Create, our activity
level in delivering AI-powered solutions to customers is high. I am also proud
of Tietoevry Tech Services for being named the European leader in the 2023 ISG
Provider LensT Intelligent Automation Services and Solutions report. The report
examines the essential capabilities required to succeed in digital
transformation and intelligent automation.

We have seen good progress in the strategic review of Tietoevry Tech Services.
The sales process is progressing as planned, with high engagement level. We have
now concluded the strategic review of Tietoevry Banking. Prevailing capital
market conditions do not support maximizing the value creation of Tietoevry
Banking through a listing or sale. Higher value of Banking is realizable by
further developing the performance of the business in the Group as an
international fintech software player.

Our hearts and minds remain with our colleagues in Ukraine as the devastating
situation in the country continues. We continue to support our people and their
families and to provide means for relocation and enhance opportunities to
continue working.

In March, we launched a new Sustainability Pledge to guide and accelerate our
sustainability performance in 2024 and beyond. We are committed to accelerating
the company's sustainability performance in three areas: climate change, ethical
conduct and our social impact. Caring for our people and planet remains close to
our heart - and we recognize the opportunities our industry has to offer to help
safeguard the world around us."

Financial performance by segment

              Revenue,  Revenue,  Growth,   Organic   Adjusted   Adjusted
Adjusted   Adjusted
                                  %         growth,   operating  operating
operating  operating
              EUR       EUR                 %
              million   million                       profit,    profit,
margin, %  margin, %

                                                      EUR        EUR
                                                      million    million
              1-3/2024  1-3/2023  1-3/2024  1-3/2023  1-3/2024   1-3/2023

Tietoevry     223.8     223.2     0         -5        29.4       34.4       13.1
15.4
Create
Tietoevry     148.8     142.3     5         8         17.8       14.7       11.9
10.3
Banking
Tietoevry     58.6      61.8      -5        -5        16.5       19.0       28.2
30.7
Care
Tietoevry     69.8      68.7      2         4         11.4       11.8       16.3
17.2
Industry
Tietoevry     263.3     288.5     -9        -7        20.1       21.0       7.6
7.3
Tech
Services
Eliminations  -30.4     -40.1     -         -         -6.5       -9.0       -
-
and
non
-allocated
costs
Group total   733.9     744.3     -1        -2        88.6       91.9       12.1
12.3

For further information, please contact:

Tomi Hyryläinen, Chief Financial Officer, tel. +358 50 555 0363, tomi.hyrylainen
(at) tietoevry.com

Tommi Järvenpää, Head of Investor Relations, tel. +358 40 576 0288,
tommi.jarvenpaa (at) tietoevry.com

A teleconference for analysts and media will be held on Thursday 25 April 2024
at 10.00 a.m. EEST (09.00 am CET, 08.00 am. UK time). Kimmo Alkio, President and
CEO, and Tomi Hyryläinen, CFO, will present the results online in English. The
presentation (https://tietoevry.videosync.fi/q1-2024) can be followed on
Tietoevry's website (http://www.tietoevry.com/investors).

To take part in the questions and answers session after the presentation you
will need to dial in by phone. You can access the teleconference by registering
on this link (https://palvelu.flik.fi/teleconference/?id=50049404). After the
registration you will be provided phone numbers, user ID and a conference ID to
access the conference.

The event is recorded and it will be available on demand later during the day.
Tietoevry publishes its financial information in English and Finnish.

Tietoevry Corporation

DISTRIBUTION

Nasdaq Helsinki

Nasdaq Stockholm

Oslo Børs

Principal Media

Tietoevry creates purposeful technology that reinvents the world for good. We
are a leading technology company with a strong Nordic heritage and global
capabilities. Based on our core values of openness, trust and diversity, we work
with our customers to develop digital futures where businesses, societies, and
humanity thrive.

Our 24 000 experts globally specialize in cloud, data, and software, serving
thousands of enterprise and public-sector customers in more than 90 countries.
Tietoevry's annual turnover is approximately EUR 3 billion and the company's
shares are listed on the NASDAQ exchange in Helsinki and Stockholm, as well as
on Oslo Børs. www.tietoevry.com