Lemminkäinen withdraws from the Ilmatar residential construction project in Russia and records an approximately EUR 13 million write-down

| Source: Lemminkäinen Lemminkäinen 

LEMMINKÄINEN CORPORATION  STOCK EXCHANGE RELEASE  15 SEPTEMBER 2015 AT 8.30 A.M.

LEMMINKÄINEN WITHDRAWS FROM THE ILMATAR RESIDENTIAL CONSTRUCTION PROJECT IN
RUSSIA AND RECORDS AN APPROXIMATELY EUR 13 MILLION WRITE-DOWN

On 31 March 2015, Lemminkäinen announced that it will withdraw from its role as
developer in the planned Ilmatar residential project with Lipsanen & Co. Group
located on Vasily Island in St Petersburg city centre. The parties’ negotiations
regarding alternative ways to carry out the project have been completed. The
parties have agreed that Lemminkäinen withdraws entirely from the project and
transfers all its project related rights to Setl Group, with whom Lipsanen & Co.
has signed a project contract. After the agreement, Lemminkäinen has no
obligations or risks related to the project.

As a consequence of the withdrawal, Lemminkäinen will record an approximately
EUR 13 million write-down to its third quarter result in 2015. The write-down
comprises of realised planning and other costs.

Lemminkäinen’s decision is impacted by the uncertainties in the operating
environment and weakened economic situation in Russia as well as the risk level
of the project for Lemminkäinen.

Lemminkäinen’s profit guidance for 2015 remains intact. Lemminkäinen estimates
that its net sales in 2015 will not increase as compared to 2014 (EUR 2,044.5
million). Operating profit (IFRS) in 2015 is expected to improve as compared to
2014 (EUR 36.3 million).

Lemminkäinen has released stock exchange releases regarding the Ilmatar project
on 10 February 2011 and 31 March 2015.

LEMMINKÄINEN CORPORATION
Corporate Communications

ADDITIONAL INFORMATION:
Casimir Lindholm, President and CEO
Tel. +358 2071 53304
casimir.lindholm@lemminkainen.com

Ilkka Salonen, CFO
Tel. +358 2071 53304
ilkka.salonen@lemminkainen.com

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Together with our customers we create conditions that make living, working and
travelling functional, safe and healthy. We operate in Northern Europe and
employ about 5,600 professionals. In 2014, our net sales were about EUR 2.0
billion. Lemminkäinen Corporation's share is quoted on NASDAQ OMX Nordic
Exchange Helsinki. www.lemminkainen.com