EFORE PLC             Stock Exchange Release         31  December, 2018    at  14:00 p.m. Efore Plc has completed the acquisition of shares of Powernet International Oy Efore Plc has today 31 December 2018 completed the acquisition of the entire share capital of Powernet International Oy, a company specialized in development and manufacture of customer specific power supplies and systems, as published in the stock exchange release on 21 November 2018. The acquisition further shifts Efore’s focus towards higher value-added products and solutions. Efore’s Systems business and Powernet form a strong platform based on Finnish know-how dating back years, on which Efore can build new and growing business.

From the beginning of 2019 Efore’s Systems business and Powernet International Oy will form a new business line in the Industrial business area. Powernet’s current CEO Heikki Viika will be nominated as the executive vice president of the new business line and he will be a member of the Efore group management team.

Powernet, founded in 1992,  develops and manufactures customer specific power supplies and systems, of which examples are customised power supply and power distribution packages as well as turnkey project deliveries, e.g. to the train industry. Powernet has also been a forerunner in the development of IoT enabled condition monitoring of power supply and power distribution packages, which is utilized in e.g. smart battery chargers. Powernet is well recognized especially in the North and Central Europe. Powernet has 30 employees and in financial year 2017 its turnover was EUR 9.7 million and EBITDA EUR 0.9 million. The purchase price on a cash and debt free basis (enterprise value) is EUR 4.5 million and the purchase price for the shares at closing of the transaction is EUR 2.5 million. Additionally, the parties have agreed on an earn-out. The maximum amount of the earn-out is EUR 1.5 million and may be paid based on Powernet Group’s consolidated sales margin for financial year 2019.

EFORE PLC Jorma Wiitakorpi                      Vesa Leino President and CEO                    CFO For further information please contact Jorma Wiitakorpi, President and CEO, tel. +358 40 175 8510 and Vesa Leino, CFO, tel. +358 40 759 8956 DISTRIBUTION Nasdaq Helsinki Oy Principal media Efore Group Efore is an international Group which develops and produces demanding power products. Efore's head office is based in Finland and its R&D functions are located in Finland, Sweden, Italy and China. Sales and marketing operations are located in Europe, United States and China. In the financial year ending in December 2017, consolidated net sales totalled EUR 69.9 million and the Group's personnel averaged 432. The parent company's share is quoted on the Nasdaq  Helsinki Ltd. www.efore.com