The implementation of the Mall of Tripla as a joint venture secured as a financing package of around EUR 300 million was granted for the project

YIT CORPORATION Stock Exchange Release June 22, 2016 at 9:00 a.m.
YIT’s Tripla project to be constructed in Helsinki, Finland has taken another
major step forward. The financing contracts on the Mall of Tripla were signed,
which meant the contracts under which the construction of the Mall of Tripla
will be carried out in the form of a joint venture became effective. A
consortium consisting of the European Investment Bank (EIB), the Nordic
Investment Bank (NIB), Danske Bank and Handelsbanken granted the project 10-year
project credits amounting to a total of approximately EUR 300 million, which
will finance half of the construction of the Mall of Tripla. EIB’s share of the
financing package is EUR 130 million, NIB’s EUR 100 million, and that of Danske
Bank and Handelsbanken around EUR 35 million both. The financing package was
coordinated by Danske Bank A/S. The overall value of the shopping mall and the
parking facility is approximately EUR 600 million, including the cost for
design, plot and financing.

In addition to ensuring the debt financing, the other conditions set for the
closing of the deals – valid building permits and required decisions from public
authorities – were met in June. According to the agreements signed in May 2016,
YIT, Etera, Onvest and Fennia became shareholders in the project company that is
building the Mall of Tripla. YIT’s share in the joint venture is 38.75%, Etera’s
38.75%, Onvest’s 15% and Fennia’s 7.5%.

Following the closing of the deal, YIT adds approximately EUR 500 million to its
order backlog for the contracts concluded with the joint venture and the City of
Helsinki, in addition to which YIT has already carried out groundworks related
to the project for the joint venture. YIT will recognise revenue and operating
profit from the contracts in line with the progress in construction. However,
38.75% of the contract for the shopping centre will be recognised as revenue and
operating profit only after YIT sells its share in the joint venture. According
to the agreements, YIT has the right to reduce its shareholding to 20% during
the construction. YIT may sell the remainder of its shareholding at the earliest
three years after the shopping centre is completed. The project is expected to
be completed in late 2019.

“We are glad to contribute to ‘the second centre of Helsinki’ as the Tripla
project has been dubbed. Urban development and energy efficiency in the pursuit
of more sustainable and competitive cities are strategic priority objectives of
the EIB, also in connection to our commitment of at least 25% of all our lending
going towards climate action. The fact that Tripla will be a near-zero energy
building fits very well with that. Importantly, the EIB loan in support of the
Tripla project is guaranteed under the European Fund for Strategic Investments
(EFSI), part of the Juncker-Commission’s Investment Plan for Europe, which
allows the EIB to expand its support for energy efficiency projects, amongst
other things.” says Vice-President Jan Vapaavuori, responsible for EIB
operations in Finland.

“Helsinki is one of the fastest-growing cities in Europe. A large shopping and
service centre and improved infrastructure for rail public transport will
contribute to reducing the potential climate impact of an expanding urban area”,
says Henrik Normann, NIB President & CEO.

“We are proud to have acted as the Coordinator in financing a project that will
have a significant positive impact on the economic activity of not just the
Helsinki area but, through development of infrastructure, whole Finland. Finland
needs forward thinking, innovative initiatives like this, and we are glad that
we can in line with our strategy help our customers reach their goals”, says
Risto Tornivaara, CEO of Danske Bank Plc.

"Tripla is an important project for the growth of the city of Helsinki. YIT has
both the know-how and the resources needed to complete such a grand-scale and
challenging project. We are glad to be able to contribute to this project", says
Nina Arkilahti, CEO Handelsbanken Finland.

“We are delighted that we were able to secure a competitive financing package
for the Tripla project. This project is significant for Finland’s economy, and
the fact that major European financing institutions such as EIB and NIB are
participating in it is an indication of Tripla’s international appeal. Danske
Bank and Handelsbanken played a major role in securing the solution, and we
appreciate the collaboration spirit and flexibility of our financiers,” says
Kari Kauniskangas, YIT’s President and CEO.

When completed, the Mall of Tripla will be the largest shopping centre in
Finland in terms of the number of retail spaces. The leasable floor area is
approximately 85,000 square metres for a total of 250 tenants, and there will be
parking space for 2,300 cars in the parking facility. There has been substantial
interest towards the Mall of Tripla premises, with more than one third of the
commercial premises having already been rented out.

In the Mall of Tripla, new solutions for recycling, water treatment and waste
processing will be utilised, enabling the constructors to apply for a Platinum
-level LEED certification for the shopping centre once it is completed. The
environmental aspect has played a major role in the decisions taken by the
investors, financiers and the City of Helsinki.

Pasila will become the new heart of Helsinki and an even more important
transportation hub that is expected to double its resident and job numbers by
2040. The construction starts with YIT’s Tripla, which will include office
space, apartments and a hotel in addition to the shopping mall and the parking
facility. The construction project also covers the Pasila station and the
adjacent public transport terminal. The City of Helsinki has planned the former
railway yard to the north of Tripla for residential blocks, which will have
apartments for 3,000 residents. The City of Helsinki is also going to launch a
design competition on the high-rise area to the south of Tripla at the end of
this year.

For additional information, please contact:

Sanna Kaje, Vice President, Investor Relations and M&A, YIT Corporation, tel.
+358 50 390 6750, sanna.kaje@yit.fi
Tapio Salo, Senior Vice President, Tripla, YIT Construction Ltd, tel. +358 50
505 2608, tapio.salo@yit.fi
Seppo Martikainen, Vice President, Transactions, YIT Construction Ltd, tel. +358
400 460 913, seppo.martikainen@yit.fi



YIT CORPORATION

Sanna Kaje
Vice President, Investor Relations and M&A

Distribution: NASDAQ Helsinki, major media, www.yitgroup.com

YIT creates sustainable cities and better living environment by developing and
constructing housing, business premises, infrastructure and entire areas. We
focus on providing a first-class customer experience, high quality and
continuous development of our diverse expertise. Our operating area covers
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In 2015, our revenue amounted to nearly EUR 1.7 billion, and we employ about
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