Basware: Flagging notification in accordance with Chapter 9 Section 10 of the Finnish Securities Markets Act

Basware Corporation has received on 14 July 2022 the following notification pursuant to Chapter 9, Section 5 of the Finnish Securities Market Act from Briarwood Chase Management LLC according to which their holding of shares and financial instruments has decreased below five (5) percent and total holding of both shares and financial instruments is zero (0) percent of the total number of shares and votes in Basware Corporation on 14 July 2022.

Basware Corporation has one series of shares in which each share carries one vote. The total number of shares and votes is 14,463,936.

The holding of Briarwood Capital Partners LP according to the notification:

% of shares % of shares and voting rights Total of
and voting through financial instruments both in %
rights
Resulting 0% 0% 0%
situation on the
date on
which threshold
was crossed or
reached:
Position of 4.41% 6.94% 11.35%
previous
notification (if
applicable):

Notified details of the resulting situation following the crossing of the threshold:

A: Shares and voting rights

Class/type of Number % of shares and voting rights
sharesISIN code (if of
possible) shares
and
voting
rights
Direct Indirect Direct Indirect  
(SMA 9:5) (SMA 9:6 (SMA (SMA 9:6 ja 9:7)
ja 9:7) 9:5)
FI0009008403 0 0 0% 0%
SUBTOTAL (A) 0 0%

B: Financial Instruments according to SMA 9:6a

Type of Expiration Exercise/Co Physical Number of shares % of shares
financial date nversion or and voting rights and voting
instrument Period cash rights
settlement
Warrants 22 August 2 April Physical 0 0%
2024 2019 (on
or
about) -
22 August
2024
Subtotal 0 0%
(B):

Additional information:
Change of major shareholdings notified herein relate to the completion of the tender offer by Sapphire BidCo Ltd in accordance with the tender offer document dated 25 April 2022. Aalap Mahadevia is the managing member of Briarwood Chase Management LLC, the investment manager of Briarwood Capital Partners LP.

For more information, please contact:
Katariina Kataja, Investor Relations Manager, Basware Corporation
Tel. +358 40 527 1427, katariina.kataja@basware.com

Distribution:
Nasdaq Helsinki
Main media
investors.basware.com/en

About Basware:
Basware is a leading provider of Networked Procure-to-Pay solutions with the largest open e-invoicing network in over 180 countries. Our cloud-based technology enables enterprises to fully manage their spend, mitigate financial risk and reduce operating costs through automation of finance, procurement, accounts payable and accounts receivable processes. Our open technology ecosystem and extensive partner network have helped over 6,500 businesses in 60 countries move towards 100% spend visibility which enables better business decisions - a concept we call Visible Commerce. Basware's solutions support the transition to a lower-carbon economy by digitization and automation. Basware is traded on the Helsinki exchange (BAS1V: HE). Find out more at https://investors.basware.com/en.