Duell Corporation: Notification of Holdings according to Chapter 9, Section 10 of the Finnish Securities Markets Act (Hartwall Capital Ltd)

Duell Corporation (“Duell“ or the “Company”) has on June 19, 2024, received a notification in accordance with the Chapter 9, Section 5 of the Finnish Securities Markets Act, according to which Hartwall Capital Ltd’s holding of the shares and votes in the Company exceeds the 30 percent threshold. Hartwall Capital Ltd’s ownership exceeded the notification threshold before April 19, 2024.

The notification is announced retroactively because on April 12, 2024, the Finnish Parliament approved a government proposal to amend the Securities Markets Act (HE 3/2024 vp), which extends the reporting requirements for significant ownership and voting rights, as well as the application of provisions related to public tender offers and obligation to make a tender offer, to include multilateral trading facilities alongside regulated markets.

Total positions of Hartwall Capital Ltd in the Company according to the notification:

	% of shares and voting rights	% of shares and voting rights through financial instruments	Total of both in %	Total number of shares and voting rights of issuer
Resulting situation on the date on which threshold was crossed or reached	30.16	0.00	30.16	1,038,546,116
Position of previous notification (if applicable)	26.14	0.00	26.14	n/a

Notified details of the resulting situation on the date on which the threshold was crossed or reached:

A: Shares and voting rights

	Number of shares and voting rights		% of shares and voting rights
Class/type of shares	Direct (SMA 9:5)	Indirect (SMA 9:6 and 9:7)	Direct (SMA 9:5)	Indirect (SMA 9:6 and 9:7)
FI4000513072		313,263,140		30.16
SUBTOTAL A	313,263,140		30.16

Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held:

Name	% of share and voting rights	% of shares and voting rights through financial instruments	Total of both
Hartwall Capital Oy Ab, 0711984-8	0.00	0.00	0.00
HC DL Holding Oy Ab, 3244826-4	30.16	0.00	313,263,140

For additional information, please contact:

Pellervo Hämäläinen, Communications and IR Manager
Duell Corporation
+358 40 674 5257
pellervo.hamalainen@duell.eu

Certified Advisor

Oaklins Merasco Oy
+358 9 312 9670

Duell Corporation (Duell) is an import and wholesale company based in Mustasaari, Finland, established in 1983. Duell imports, manufactures, and sells products through an extensive distribution network in Europe covering approximately 8,500 dealers. The range of products includes approximately 150,000 items under more than 550 brands. The assortment covers spare parts and accessories for motorcycling, bicycling, ATVs/UTVs, mopeds and scooters, snowmobiling, and boating. Logistics centres are in Finland, Sweden, Netherlands, France, and the UK. Duell’s net sales in 2023 was EUR 119 million and it employs over 200 people. Duell’s shares are listed on the Nasdaq First North Growth Market Finland marketplace. www.duell.eu