EXCHANGE NOTICE, MAY 22, 2020 SHARES VALOE OYJ: DIRECTED ISSUE A total of 7,750,000 shares will be traded as old shares as of May 25, 2020. Identifiers of Valoe Oyj's share: Trading code: VALOE ISIN code: FI0009006951 Orderbook id: 24329 Number of shares: 142,074,388 Nasdaq Helsinki Oy, Surveillance, survo@nasdaq.com, +358 9 6166 7260