Long Path Partners, LP, Accel-KKR Capital Partners VI, LP managed by Accel-KKR LLC, Briarwood Capital Partners, L.P. managed Briarwood Capital Management Inc. agreed to acquire 82.27% stake in Basware Oyj (HLSE : BAS1V) from Lannebo Fonder AB, AP Fonden 4 and Ilmarinen Mutual Pension Insurance Company for approximately €620 million on April 13, 2022. The Offeror has received equity and debt commitments, as evidenced in equity commitment letters a debt commitment letter and fundable interim facilities agreement executed by Golub Capital LLC and certain affiliated, similarly managed and/or related funds, in each case addressed to the Offeror, and other undertakings to finance the Tender Offer at completion and compulsory redemption proceedings, if any. As of June 10, 2022, The Offeror announces that it has received all relevant authority approvals for the completion of the Tender Offer including the approval under the National Security and Investment Act in the United Kingdom. The deal is subject to regulatory, anti trust and Basware board approval. As of April 14, 2022 Basware board approved the deal. As of April 25, 2022 Finnish Financial Supervisory Authority approved the deal. The offer period will close on June 7, 2022. As of June 6, 2022, offer period has been extended to June 21, 2022. PWC acted as accountant advisory and tax due diligence provider to Accel-KKR. Lazard & Co., Limited and Danske Bank acted as financial advisors, Hannes Snellman Attorneys Ltd. and Kirkland & Ellis International LLP acted as legal advisors of Accel-KKR, Long Path Partners and Briarwood Capital Management. Goldman Sachs International acted as financial advisor and Roschier Advokatbyrå Ab acted as legal advisor of Basware Oyj.

Long Path Partners, LP, Accel-KKR Capital Partners VI, LP managed by Accel-KKR LLC, Briarwood Capital Partners, L.P. managed Briarwood Capital Management Inc. completed the acquisition of 82.27% stake in Basware Oyj (HLSE : BAS1V) from Lannebo Fonder AB, AP Fonden 4 and Ilmarinen Mutual Pension Insurance Company for approximately €450 million on June 21, 2022. Completion occurred following satisfaction of all conditions. Following this transaction, consortium of investors own approximately 96.2% stake in Basware. The consortium intends to initiate compulsory redemption proceedings to acquire the remaining Shares in accordance with the Finnish Companies Act.