Annual General Meeting 2026

Notice is given to the shareholders of KONE Corporation of the Annual General Meeting to be held on Thursday 5 March 2026 beginning at 11:00 a.m. at Finlandia Hall, Mannerheimintie 13 e, Helsinki. The reception of registered meeting participants and distribution of voting ballots will commence at the meeting venue at 10:00 a.m.

It is not possible for shareholders to vote in advance or participate in the General Meeting other than at the meeting venue. It is, however, possible for shareholders to register to follow the General Meeting via a webcast. More detailed information about the webcast is available in Section C. 4. “Other instructions and information” in this notice.

A. Matters on the agenda of the General Meeting

At the General Meeting, the following matters will be considered:

1. Opening of the meeting

2. Calling the meeting to order

3. Election of person to scrutinize the minutes and persons to supervise the counting of votes

4. Recording the legality of the meeting

5. Recording the attendance at the meeting and adoption of the list of votes

6. Presentation of the annual accounts, the report of the Board of Directors and the auditor’s report for the year 2025

- Review by the President and CEO

The Annual Review, which includes the company’s annual accounts, consolidated accounts, the report of the Board of Directors, the sustainability statement, the auditor’s report and the assurance opinion on the sustainability reporting, is available on the company’s website at https://www.kone.com/en/investors/annual-general-meetings/.

7. Adoption of the annual accounts

8. Resolution on the use of the profit shown on the balance sheet and the payment of dividends

The Board of Directors proposes that a dividend of EUR 1.7975 be paid for each class A share and a dividend of EUR 1.80 be paid for each class B share for the financial year 2025. The date of record for dividend distribution is 9 March 2026, and the dividend is paid on 16 March 2026.

The dividend will be paid to shareholders who are registered in the company’s shareholder register maintained by Euroclear Finland Oy in Finland on the dividend record date. Dividends will not be paid to shares held by the company on the dividend record date.

9. Resolution on the discharge of the members of the Board of Directors and the President and CEO from liability for the financial period of 1 January – 31 December 2025

10. Consideration of the Remuneration Report for governing bodies

The Board of Directors proposes to the General Meeting that the company’s 2025 Remuneration Report for governing bodies is adopted through an advisory resolution.

The remuneration report for governing bodies is available on the company’s website at https://www.kone.com/en/investors/annual-general-meetings/.

11. Resolution on the remuneration of the members of the Board of Directors

The Nomination and Compensation Committee of the Board of Directors proposes to the General Meeting that the board members’ annual compensation is kept unchanged as follows: Chairman of the Board of Directors EUR 220,000, Vice Chairman EUR 125,000 and board members EUR 110,000 per year. According to the proposal, 40 percent of the annual compensation will be paid in class B shares of KONE Corporation and the rest in cash. In case the remuneration cannot be paid in shares due to legal or other regulatory restrictions or due to other reasons related to the company or a member of the Board of Directors, the annual remuneration will be paid fully in cash. The Nomination and Compensation Committee proposes in addition that a separate annual compensation is paid to the members of the board committees as follows: Chairman of the Audit Committee EUR 20,000 and members of the Audit Committee EUR 10,000, and Chairman of the Nomination and Compensation Committee EUR 20,000 and members of the Nomination and Compensation Committee EUR 10,000. The annual compensation of the members of the board committees is proposed to be paid in cash. In addition, it is proposed that annual compensation is not paid to a board member who is employed by the company. Possible travel expenses are proposed to be reimbursed according to the travel policy of the company.

12. Resolution on the number of members of the Board of Directors

The Nomination and Compensation Committee of the Board of Directors proposes to the General Meeting that eight board members are elected.

However, should one or more of the proposed board members be unavailable for election to the Board of Directors for any reason, the proposed number of board members will be decreased accordingly.

13. Election of members of the Board of Directors

The Nomination and Compensation Committee of the Board of Directors proposes to the General Meeting that the following persons are elected to the Board of Directors until the conclusion of the next annual general meeting so that each candidate shall be considered separately in case of a possible vote:

a) Banmali Agrawala (present member)

b) Matti Alahuhta (present member)

c) Susan Duinhoven (present member)

d) Marika Fredriksson (present member)

e) Anna Herlin (new member)

f) Antti Herlin (present member)

g) Jussi Herlin (present member)

h) Timo Ihamuotila (present member)

The proposed new member of the Board of Directors, Ms. Anna Herlin, Master of Arts and Master of Social Sciences, is born 1982 and is a Finnish citizen. She has served as Vice-Chair of Security Trading Oy since 2016 and as Board Member of the Tiina and Antti Herlin Foundation since 2014. Since 2024 she has worked in both positions in an executive role. Previously she served as Head of Development at Security Trading Oy and Tiina and Antti Herlin Foundation 2018-2024, as Project Manager at the John Nurminen Foundation 2013-2018, and as Planning Officer at the Finnish Academy of Fine Arts 2008-2009. Current key position of trust, in addition to the ones mentioned above, is Board Member of Sanoma Corporation (publicly listed company). Based on the evaluation of KONE’s Board of Directors, Anna Herlin is independent of the company and dependent of its significant shareholders.

Of the proposed members of the Board of Directors, Banmali Agrawala, Matti Alahuhta, Susan Duinhoven, Marika Fredriksson, Anna Herlin and Timo Ihamuotila are independent of the company. With the exception of Antti Herlin, Anna Herlin and Jussi Herlin, the other proposed Board members are independent of the company’s significant shareholders.

Should any of the aforementioned candidates not be available for election to the Board of Directors for any reason, the remaining available candidates are proposed to be elected according to the proposal.

All proposed individuals have consented to their election as board members.

The proposed new member of the Board of Directors is presented on the company’s website at https://www.kone.com/en/investors/annual-general-meetings/.

14. Resolution on the remuneration of the auditors

The Audit Committee of the Board of Directors proposes to the General Meeting that the auditor to be elected is reimbursed as per their invoice approved by the company.

15. Resolution on the number of auditors

The Audit Committee of the Board of Directors proposes to the General Meeting that one auditor is elected for the company for a term ending at the conclusion of the following annual general meeting.

16. Election of auditors

The Audit Committee of the Board of Directors proposes to the General Meeting that authorized public accountants Ernst & Young Oy be re-elected as the auditor of the company for a term ending at the conclusion of the following annual general meeting.

Ernst & Young Oy has informed the company that authorized public accountant Mikko Järventausta would act as the principal auditor.

17. Resolution on the remuneration of the sustainability reporting assurer

The Audit Committee of the Board of Directors proposes to the General Meeting that the sustainability reporting assurer to be elected is reimbursed as per their invoice approved by the company.

18. Election of the sustainability reporting assurer

The Audit Committee of the Board of Directors proposes to the General Meeting that the sustainability audit firm Ernst & Young Oy be re-elected as the company’s sustainability reporting assurer for the term ending at the conclusion of the following annual general meeting.

Ernst & Young Oy has informed the company that authorized public accountant, authorized sustainability auditor Mikko Järventausta would act as the principally responsible sustainability reporting assurer.

19. Authorizing the Board of Directors to decide on the repurchase of the company’s own shares

The Board of Directors proposes to the General Meeting that the General Meeting authorizes the Board of Directors to decide on the repurchase of not more than 52,930,000 own shares using the company’s unrestricted equity, so that a maximum of 7,620,000 class A shares and a maximum of 45,310,000 class B shares may be repurchased, subject to the condition that the company and its subsidiaries may collectively hold a maximum of 10 percent of all shares of the company at any given time. The proposed maximum number of shares corresponds to approximately 10 percent of the company’s registered number of shares and votes for each share class on the date of this notice. The consideration to be paid for the repurchased shares with respect to both class A and class B shares will be determined based on the trading price determined for class B shares in public trading on the date of repurchase.

Class A shares will be repurchased in proportion to holdings of class A shareholders at a price equivalent to the average price paid for the company’s class B shares in public trading on the date of repurchase. Any shareholder wishing to offer their class A shares for repurchase by the company must state their intention to the company’s Board of Directors in writing. The company may deviate from the obligation to repurchase class A shares in proportion to the shareholders’ holdings if all the holders of class A shares give their consent. Class B shares may be repurchased either by an offer made to all holders of class B shares on the same terms or otherwise and other than in proportion to the then existing shareholdings of the holders of class B shares. Class B shares will be repurchased at a price determined in public trading at the time of the repurchase.

Shares can be repurchased to be used, for example, as consideration in potential corporate acquisitions or other arrangements related to the company’s business activities, to finance investments, to develop the company’s capital structure, for example, as a method of distributing excess capital, or to be held by the company as treasury shares, otherwise disposed of or canceled, or used as part of the company’s incentive schemes.

The Board of Directors is authorized to decide on all other terms related to the repurchase of the company’s own shares.

The Board of Directors proposes that the authorization will be valid until the conclusion of the following annual general meeting, however, at the latest until 30 June 2027. The authorization, when granted, would revoke the authorization to decide on the repurchase of the company’s own shares given to the Board of Directors by the Annual General Meeting on 5 March 2025.

20. Authorizing the Board of Directors to decide on the issuance of shares as well as the issuance of options and other special rights entitling to shares

The Board of Directors proposes to the General Meeting that the Board of Directors be authorized to decide on the issuance of shares as well as the issuance of options and other special rights entitling to shares referred to in Chapter 10, Section 1 of the Limited Liability Companies Act in one or several instalments as follows:

The number of shares to be issued based on this authorization shall not exceed 7,620,000 class A shares and 45,310,000 class B shares. The proposed maximum number of shares corresponds to approximately 10 percent of the company’s registered number of shares and votes for each share class on the date of this notice. The Board of Directors is authorized to decide on all the conditions of the issuance of shares and of special rights entitling to shares. The authorization concerns both the issuance of new shares as well as the transfer of treasury shares either for consideration or without consideration.

The issuance of shares and of special rights entitling to shares may be carried out in deviation from the shareholders’ pre-emptive rights (directed issue), if there is a weighty financial reason for the company, such as using shares as consideration in potential corporate acquisitions or other arrangements related to the company’s business, financing investments, developing the company’s capital structure, or implementing the company’s incentive schemes, however so that the Board of Directors may issue up to a maximum of 4,531,000 class B shares as part of the company’s incentive schemes, which corresponds to approximately 0.86 percent of all the shares in the company.

The Board of Directors proposes that the authorization will be valid until the conclusion of the following annual general meeting, however, at the latest until 30 June 2027. The authorization, when granted, would revoke the authorization to decide on the issuance of shares given to the Board of Directors by the Annual General Meeting on 5 March 2025.

21. Closing of the meeting

B. Documents of the General Meeting

The aforementioned proposals on the agenda of the General Meeting, the remuneration report, this notice, as well as the Annual Review, which includes the company’s annual accounts, consolidated accounts, the report of the Board of Directors, sustainability statement, the auditor’s report, and the assurance opinion on the sustainability reporting, are on view at KONE Corporation’s website at https://www.kone.com/en/investors/annual-general-meetings/. The proposals for resolutions and other documents referred to above are also on view at the General Meeting. The minutes of the General Meeting will be available on the above-mentioned website no later than 19 March 2026.

C. Instructions for the participants in the General Meeting

1. Shareholders recorded in the shareholders’ register

Each shareholder, who is registered in the shareholders’ register of the company held by Euroclear Finland Oy on the record date of the General Meeting, which is 23 February 2026, has the right to participate in the General Meeting. A shareholder, whose shares are registered on their personal Finnish book-entry account (including Finnish equity savings account), is registered in the shareholders’ register of the company. Any changes in the ownership of shares after the record date of the General Meeting do not affect the right to participate in the meeting or the number of votes of the shareholder.

Registration for the General Meeting commences on 6 February 2026. A shareholder, who is registered in the shareholders’ register of the company and who wants to participate in the General Meeting, shall register for the meeting no later than on 2 March 2026 at 15:00 p.m. by which time the notice must be received. Such notice can be given:

a) via KONE Corporation’s website at https://www.kone.com/en/investors/annual-general-meetings/. Electronic registration requires strong identification of the shareholder or their legal representative or proxy with Finnish, Swedish or Danish online banking credentials or mobile ID.

b) by e-mail to Innovatics Oy using the address: agm@innovatics.fi. Shareholders registering by e-mail shall include in the e-mail the registration form available on the company’s website at https://www.kone.com/en/investors/annual-general-meetings/ or equivalent information.

c) by mail to Innovatics Oy to the address Innovatics Oy, General Meeting / KONE Corporation, Ratamestarinkatu 13 A, FI-00520 Helsinki. Shareholders registering by mail shall include in the letter the registration form available on the company's website https://www.kone.com/en/investors/annual-general-meetings/ or equivalent information.

In connection with the registration, a shareholder shall provide the information requested such as their name, date of birth or business identification number, address, telephone number and email address as well as the name of any assistant or proxy representative, the date of birth of a proxy representative as well as the telephone number and e-mail address of the proxy representative. The personal information is used only in connection with the General Meeting and with the processing of related necessary registrations.

Further information on registration is available by telephone during the registration period of the General Meeting by calling Innovatics Oy at +358 10 2818 909 on weekdays from 9:00 a.m. to 12:00 p.m. and from 13:00 p.m. to 16:00 p.m.

The shareholder, their authorized representative or proxy representative shall, to the extent necessary, be able to prove their identity and/or right of representation at the meeting venue.

2. Holders of nominee registered shares

A holder of nominee registered shares has the right to participate in the General Meeting by virtue of such shares, based on which they on the record date of the General Meeting, i.e. 23 February 2026, would be entitled to be registered in the shareholders’ register of the company held by Euroclear Finland Oy. The right to participate in the General Meeting requires, in addition, that the shareholder on the basis of such shares has been registered into the temporary shareholders’ register of the company held by Euroclear Finland Oy at the latest by 2 March 2026 by 10:00 a.m. (Finnish time). This is considered due registration for holders of nominee registered shares wanting to participate in the General Meeting. Any changes in the ownership of shares after the record date of the General Meeting do not affect the right to participate in the meeting or the number of votes of the shareholder.

A holder of nominee registered shares is advised to request well in advance necessary instructions regarding the registration in the temporary shareholder’s register of the company, the issuing of proxy documents and voting instructions, and registration for the General Meeting from their custodian bank. The account manager of the custodian bank must register a holder of nominee registered shares, who wants to participate in the General Meeting, into the temporary shareholders’ register of the company at the latest by 2 March 2026 by 10:00 a.m. (Finnish time).

In order to take into consideration possible voting instructions of a holder of nominee registered shares at the Annual General Meeting, it is required that the shareholder has registered for the General Meeting and that the shareholder is present or represented at the General Meeting.

3. Proxy representative and powers of attorney

A shareholder may participate in the General Meeting and exercise their shareholder rights at the meeting by way of proxy representation. A proxy representative must personally identify him or herself in the electronic registration using strong identification, after which they can register for the General Meeting on behalf of the shareholder they represent. A proxy representative shall produce a dated proxy document or otherwise in a reliable manner demonstrate their right to represent the shareholder at the General Meeting. A proxy template is available on the company’s website at https://www.kone.com/en/investors/annual-general-meetings/. If a shareholder participates in the General Meeting by means of several proxy representatives representing the shareholder with shares in different securities accounts, the shares by which each proxy representative represents the shareholder shall be identified in connection with the registration for the General Meeting.

Any proxy documents are requested to be submitted preferably as an attachment with the electronic registration at KONE Corporation’s website at https://www.kone.com/en/investors/annual-general-meetings/ or alternatively by mail to Innovatics Oy, General Meeting / KONE Corporation, Ratamestarinkatu 13 A, FI-00520 Helsinki or by e-mail to agm@innovatics.fi well in advance so that they arrive no later than 2 March 2026 by 15:00 p.m. (Finnish time). In addition to submitting the proxy documents, the shareholder or their proxy representative shall register for the General Meeting in the manner described above in this notice. The original proxy documents must be presented to the company upon request.

Shareholders can also use Suomi.fi e-Authorization service instead of a traditional power of attorney. To do so the shareholder must authorize its representative in Suomi.fi e-Authorization at the address: https://www.suomi.fi/e-authorizations by using the mandate “Representation at the General Meeting”. In connection with the electronic registration to the meeting, the authorized person must identify themself in the registration system through strong electronic identification after which the e-Authorization is automatically verified.

4. Other instructions and information

At the General Meeting, the primary language used will be Finnish, with some parts in English. The review by the President and CEO will be held in English.

Pursuant to chapter 5, section 25 of the Finnish Limited Liability Companies Act, a shareholder who is present at the General Meeting has the right to request information with respect to the matters to be considered at the General Meeting.

The shareholder and their possible authorized representative, legal representative, or assistant must be able to prove their identity and/or right of representation at the General Meeting.

On the date of this notice 6 February 2026, the total number of shares in KONE Corporation is 529,395,860 shares constituted of 76,208,712 class A shares and 453,187,148 class B shares. Based on the Articles of Association, each class A share entitles its holder to one vote and each full ten class B shares entitle their holder to one vote, but each shareholder has a minimum of one vote. On the date of this notice, the company holds 11,537,238 treasury class B shares. Pursuant to the Limited Liability Companies Act, treasury shares or shares held by a subsidiary do not entitle to participation in the General Meeting.

Each shareholder, who is registered in the shareholders’ register of the company held by Euroclear Finland Oy on the record date of the General Meeting, which is 23 February 2026, has a possibility to register to follow the General Meeting via a webcast. Instructions how to register as a follower for the webcast and how to follow the webcast are available on the company’s website at https://www.kone.com/en/investors/annual-general-meetings/. The shareholders following the webcast may present written questions or comments during the General Meeting through a chat functionality provided on the webcast platform. Following the webcast or presenting written questions or comments is not considered participation in the General Meeting or using shareholders’ right to request information or speak at the meeting in accordance with the Limited Liability Companies Act. Written questions presented in the chat are not questions referred to in the Limited Liability Companies Act. The written questions and comments presented in the chat will be brought to the audience of the General Meeting and answered in the General Meeting if the Chairperson of the meeting considers it appropriate.

The participants of the General Meeting are kindly notified that coffee will be served after the meeting.

In Helsinki, 6 February 2026

KONE Corporation

THE BOARD OF DIRECTORS

At the General Meeting, the following matters will be considered:

1. Opening of the meeting

2. Calling the meeting to order

3. Election of person to scrutinize the minutes and persons to supervise the counting of votes

4. Recording the legality of the meeting

5. Recording the attendance at the meeting and adoption of the list of votes

6. Presentation of the annual accounts, the report of the Board of Directors and the auditor’s report for the year 2025

- Review by the President and CEO

The Annual Review, which includes the company’s annual accounts, consolidated accounts, the report of the Board of Directors, the sustainability statement, the auditor’s report and the assurance opinion on the sustainability reporting, is available on the company’s website at https://www.kone.com/en/investors/annual-general-meetings/.

7. Adoption of the annual accounts

8. Resolution on the use of the profit shown on the balance sheet and the payment of dividends

The Board of Directors proposes that a dividend of EUR 1.7975 be paid for each class A share and a dividend of EUR 1.80 be paid for each class B share for the financial year 2025. The date of record for dividend distribution is 9 March 2026, and the dividend is paid on 16 March 2026.

The dividend will be paid to shareholders who are registered in the company’s shareholder register maintained by Euroclear Finland Oy in Finland on the dividend record date. Dividends will not be paid to shares held by the company on the dividend record date.

9. Resolution on the discharge of the members of the Board of Directors and the President and CEO from liability for the financial period of 1 January – 31 December 2025

10. Consideration of the Remuneration Report for governing bodies

The Board of Directors proposes to the General Meeting that the company’s 2025 Remuneration Report for governing bodies is adopted through an advisory resolution.

The remuneration report for governing bodies is available on the company’s website at https://www.kone.com/en/investors/annual-general-meetings/.

11. Resolution on the remuneration of the members of the Board of Directors

The Nomination and Compensation Committee of the Board of Directors proposes to the General Meeting that the board members’ annual compensation is kept unchanged as follows: Chairman of the Board of Directors EUR 220,000, Vice Chairman EUR 125,000 and board members EUR 110,000 per year. According to the proposal, 40 percent of the annual compensation will be paid in class B shares of KONE Corporation and the rest in cash. In case the remuneration cannot be paid in shares due to legal or other regulatory restrictions or due to other reasons related to the company or a member of the Board of Directors, the annual remuneration will be paid fully in cash. The Nomination and Compensation Committee proposes in addition that a separate annual compensation is paid to the members of the board committees as follows: Chairman of the Audit Committee EUR 20,000 and members of the Audit Committee EUR 10,000, and Chairman of the Nomination and Compensation Committee EUR 20,000 and members of the Nomination and Compensation Committee EUR 10,000. The annual compensation of the members of the board committees is proposed to be paid in cash. In addition, it is proposed that annual compensation is not paid to a board member who is employed by the company. Possible travel expenses are proposed to be reimbursed according to the travel policy of the company.

12. Resolution on the number of members of the Board of Directors

The Nomination and Compensation Committee of the Board of Directors proposes to the General Meeting that eight board members are elected.

However, should one or more of the proposed board members be unavailable for election to the Board of Directors for any reason, the proposed number of board members will be decreased accordingly.

13. Election of members of the Board of Directors

The Nomination and Compensation Committee of the Board of Directors proposes to the General Meeting that the following persons are elected to the Board of Directors until the conclusion of the next annual general meeting so that each candidate shall be considered separately in case of a possible vote:

a) Banmali Agrawala (present member)

b) Matti Alahuhta (present member)

c) Susan Duinhoven (present member)

d) Marika Fredriksson (present member)

e) Anna Herlin (new member)

f) Antti Herlin (present member)

g) Jussi Herlin (present member)

h) Timo Ihamuotila (present member)

The proposed new member of the Board of Directors, Ms. Anna Herlin, Master of Arts and Master of Social Sciences, is born 1982 and is a Finnish citizen. She has served as Vice-Chair of Security Trading Oy since 2016 and as Board Member of the Tiina and Antti Herlin Foundation since 2014. Since 2024 she has worked in both positions in an executive role. Previously she served as Head of Development at Security Trading Oy and Tiina and Antti Herlin Foundation 2018-2024, as Project Manager at the John Nurminen Foundation 2013-2018, and as Planning Officer at the Finnish Academy of Fine Arts 2008-2009. Current key position of trust, in addition to the ones mentioned above, is Board Member of Sanoma Corporation (publicly listed company). Based on the evaluation of KONE’s Board of Directors, Anna Herlin is independent of the company and dependent of its significant shareholders.

Of the proposed members of the Board of Directors, Banmali Agrawala, Matti Alahuhta, Susan Duinhoven, Marika Fredriksson, Anna Herlin and Timo Ihamuotila are independent of the company. With the exception of Antti Herlin, Anna Herlin and Jussi Herlin, the other proposed Board members are independent of the company’s significant shareholders.

Should any of the aforementioned candidates not be available for election to the Board of Directors for any reason, the remaining available candidates are proposed to be elected according to the proposal.

All proposed individuals have consented to their election as board members.

The proposed new member of the Board of Directors is presented on the company’s website at https://www.kone.com/en/investors/annual-general-meetings/.

14. Resolution on the remuneration of the auditors

The Audit Committee of the Board of Directors proposes to the General Meeting that the auditor to be elected is reimbursed as per their invoice approved by the company.

15. Resolution on the number of auditors

The Audit Committee of the Board of Directors proposes to the General Meeting that one auditor is elected for the company for a term ending at the conclusion of the following annual general meeting.

16. Election of auditors

The Audit Committee of the Board of Directors proposes to the General Meeting that authorized public accountants Ernst & Young Oy be re-elected as the auditor of the company for a term ending at the conclusion of the following annual general meeting.

Ernst & Young Oy has informed the company that authorized public accountant Mikko Järventausta would act as the principal auditor.

17. Resolution on the remuneration of the sustainability reporting assurer

The Audit Committee of the Board of Directors proposes to the General Meeting that the sustainability reporting assurer to be elected is reimbursed as per their invoice approved by the company.

18. Election of the sustainability reporting assurer

The Audit Committee of the Board of Directors proposes to the General Meeting that the sustainability audit firm Ernst & Young Oy be re-elected as the company’s sustainability reporting assurer for the term ending at the conclusion of the following annual general meeting.

Ernst & Young Oy has informed the company that authorized public accountant, authorized sustainability auditor Mikko Järventausta would act as the principally responsible sustainability reporting assurer.

19. Authorizing the Board of Directors to decide on the repurchase of the company’s own shares

The Board of Directors proposes to the General Meeting that the General Meeting authorizes the Board of Directors to decide on the repurchase of not more than 52,930,000 own shares using the company’s unrestricted equity, so that a maximum of 7,620,000 class A shares and a maximum of 45,310,000 class B shares may be repurchased, subject to the condition that the company and its subsidiaries may collectively hold a maximum of 10 percent of all shares of the company at any given time. The proposed maximum number of shares corresponds to approximately 10 percent of the company’s registered number of shares and votes for each share class on the date of this notice. The consideration to be paid for the repurchased shares with respect to both class A and class B shares will be determined based on the trading price determined for class B shares in public trading on the date of repurchase.

Class A shares will be repurchased in proportion to holdings of class A shareholders at a price equivalent to the average price paid for the company’s class B shares in public trading on the date of repurchase. Any shareholder wishing to offer their class A shares for repurchase by the company must state their intention to the company’s Board of Directors in writing. The company may deviate from the obligation to repurchase class A shares in proportion to the shareholders’ holdings if all the holders of class A shares give their consent. Class B shares may be repurchased either by an offer made to all holders of class B shares on the same terms or otherwise and other than in proportion to the then existing shareholdings of the holders of class B shares. Class B shares will be repurchased at a price determined in public trading at the time of the repurchase.

Shares can be repurchased to be used, for example, as consideration in potential corporate acquisitions or other arrangements related to the company’s business activities, to finance investments, to develop the company’s capital structure, for example, as a method of distributing excess capital, or to be held by the company as treasury shares, otherwise disposed of or canceled, or used as part of the company’s incentive schemes.

The Board of Directors is authorized to decide on all other terms related to the repurchase of the company’s own shares.

The Board of Directors proposes that the authorization will be valid until the conclusion of the following annual general meeting, however, at the latest until 30 June 2027. The authorization, when granted, would revoke the authorization to decide on the repurchase of the company’s own shares given to the Board of Directors by the Annual General Meeting on 5 March 2025.

20. Authorizing the Board of Directors to decide on the issuance of shares as well as the issuance of options and other special rights entitling to shares

The Board of Directors proposes to the General Meeting that the Board of Directors be authorized to decide on the issuance of shares as well as the issuance of options and other special rights entitling to shares referred to in Chapter 10, Section 1 of the Limited Liability Companies Act in one or several instalments as follows:

The number of shares to be issued based on this authorization shall not exceed 7,620,000 class A shares and 45,310,000 class B shares. The proposed maximum number of shares corresponds to approximately 10 percent of the company’s registered number of shares and votes for each share class on the date of this notice. The Board of Directors is authorized to decide on all the conditions of the issuance of shares and of special rights entitling to shares. The authorization concerns both the issuance of new shares as well as the transfer of treasury shares either for consideration or without consideration.

The issuance of shares and of special rights entitling to shares may be carried out in deviation from the shareholders’ pre-emptive rights (directed issue), if there is a weighty financial reason for the company, such as using shares as consideration in potential corporate acquisitions or other arrangements related to the company’s business, financing investments, developing the company’s capital structure, or implementing the company’s incentive schemes, however so that the Board of Directors may issue up to a maximum of 4,531,000 class B shares as part of the company’s incentive schemes, which corresponds to approximately 0.86 percent of all the shares in the company.

The Board of Directors proposes that the authorization will be valid until the conclusion of the following annual general meeting, however, at the latest until 30 June 2027. The authorization, when granted, would revoke the authorization to decide on the issuance of shares given to the Board of Directors by the Annual General Meeting on 5 March 2025.

21. Closing of the meeting

Adoption of the annual accounts

Resolution on the use of the profit shown on the balance sheet and the payment of dividends

The Board of Directors proposes that a dividend of EUR 1.7975 be paid for each class A share and a dividend of EUR 1.80 be paid for each class B share for the financial year 2025. The date of record for dividend distribution is 9 March 2026, and the dividend is paid on 16 March 2026.

The dividend will be paid to shareholders who are registered in the company’s shareholder register maintained by Euroclear Finland Oy in Finland on the dividend record date. Dividends will not be paid to shares held by the company on the dividend record date.

Resolution on the discharge of the members of the Board of Directors and the President and CEO from liability for the financial period of 1 January – 31 December 2025

Consideration of the Remuneration Report for governing bodies

The Board of Directors proposes to the General Meeting that the company’s 2025 Remuneration Report for governing bodies is adopted through an advisory resolution.

The remuneration report for governing bodies is available on the company’s website at https://www.kone.com/en/investors/annual-general-meetings/.

Resolution on the remuneration of the members of the Board of Directors

The Nomination and Compensation Committee of the Board of Directors proposes to the General Meeting that the board members’ annual compensation is kept unchanged as follows: Chairman of the Board of Directors EUR 220,000, Vice Chairman EUR 125,000 and board members EUR 110,000 per year. According to the proposal, 40 percent of the annual compensation will be paid in class B shares of KONE Corporation and the rest in cash. In case the remuneration cannot be paid in shares due to legal or other regulatory restrictions or due to other reasons related to the company or a member of the Board of Directors, the annual remuneration will be paid fully in cash. The Nomination and Compensation Committee proposes in addition that a separate annual compensation is paid to the members of the board committees as follows: Chairman of the Audit Committee EUR 20,000 and members of the Audit Committee EUR 10,000, and Chairman of the Nomination and Compensation Committee EUR 20,000 and members of the Nomination and Compensation Committee EUR 10,000. The annual compensation of the members of the board committees is proposed to be paid in cash. In addition, it is proposed that annual compensation is not paid to a board member who is employed by the company. Possible travel expenses are proposed to be reimbursed according to the travel policy of the company.

Resolution on the number of members of the Board of Directors

The Nomination and Compensation Committee of the Board of Directors proposes to the General Meeting that eight board members are elected.

However, should one or more of the proposed board members be unavailable for election to the Board of Directors for any reason, the proposed number of board members will be decreased accordingly.

Election of members of the Board of Directors

The Nomination and Compensation Committee of the Board of Directors proposes to the General Meeting that the following persons are elected to the Board of Directors until the conclusion of the next annual general meeting so that each candidate shall be considered separately in case of a possible vote:

a) Banmali Agrawala (present member)

b) Matti Alahuhta (present member)

c) Susan Duinhoven (present member)

d) Marika Fredriksson (present member)

e) Anna Herlin (new member)

f) Antti Herlin (present member)

g) Jussi Herlin (present member)

h) Timo Ihamuotila (present member)

The proposed new member of the Board of Directors, Ms. Anna Herlin, Master of Arts and Master of Social Sciences, is born 1982 and is a Finnish citizen. She has served as Vice-Chair of Security Trading Oy since 2016 and as Board Member of the Tiina and Antti Herlin Foundation since 2014. Since 2024 she has worked in both positions in an executive role. Previously she served as Head of Development at Security Trading Oy and Tiina and Antti Herlin Foundation 2018-2024, as Project Manager at the John Nurminen Foundation 2013-2018, and as Planning Officer at the Finnish Academy of Fine Arts 2008-2009. Current key position of trust, in addition to the ones mentioned above, is Board Member of Sanoma Corporation (publicly listed company). Based on the evaluation of KONE’s Board of Directors, Anna Herlin is independent of the company and dependent of its significant shareholders.

Of the proposed members of the Board of Directors, Banmali Agrawala, Matti Alahuhta, Susan Duinhoven, Marika Fredriksson, Anna Herlin and Timo Ihamuotila are independent of the company. With the exception of Antti Herlin, Anna Herlin and Jussi Herlin, the other proposed Board members are independent of the company’s significant shareholders.

Should any of the aforementioned candidates not be available for election to the Board of Directors for any reason, the remaining available candidates are proposed to be elected according to the proposal.

All proposed individuals have consented to their election as board members.

The proposed new member of the Board of Directors is presented on the company’s website at https://www.kone.com/en/investors/annual-general-meetings/.

Resolution on the remuneration of the auditors

The Audit Committee of the Board of Directors proposes to the General Meeting that the auditor to be elected is reimbursed as per their invoice approved by the company.

Resolution on the number of auditors

The Audit Committee of the Board of Directors proposes to the General Meeting that one auditor is elected for the company for a term ending at the conclusion of the following annual general meeting.

Election of auditors

The Audit Committee of the Board of Directors proposes to the General Meeting that authorized public accountants Ernst & Young Oy be re-elected as the auditor of the company for a term ending at the conclusion of the following annual general meeting.

Ernst & Young Oy has informed the company that authorized public accountant Mikko Järventausta would act as the principal auditor.

Resolution on the remuneration of the sustainability reporting assurer

The Audit Committee of the Board of Directors proposes to the General Meeting that the sustainability reporting assurer to be elected is reimbursed as per their invoice approved by the company.

Election of the sustainability reporting assurer

The Audit Committee of the Board of Directors proposes to the General Meeting that the sustainability audit firm Ernst & Young Oy be re-elected as the company’s sustainability reporting assurer for the term ending at the conclusion of the following annual general meeting.

Ernst & Young Oy has informed the company that authorized public accountant, authorized sustainability auditor Mikko Järventausta would act as the principally responsible sustainability reporting assurer.

Authorizing the Board of Directors to decide on the repurchase of the company’s own shares

The Board of Directors proposes to the General Meeting that the General Meeting authorizes the Board of Directors to decide on the repurchase of not more than 52,930,000 own shares using the company’s unrestricted equity, so that a maximum of 7,620,000 class A shares and a maximum of 45,310,000 class B shares may be repurchased, subject to the condition that the company and its subsidiaries may collectively hold a maximum of 10 percent of all shares of the company at any given time. The proposed maximum number of shares corresponds to approximately 10 percent of the company’s registered number of shares and votes for each share class on the date of this notice. The consideration to be paid for the repurchased shares with respect to both class A and class B shares will be determined based on the trading price determined for class B shares in public trading on the date of repurchase.

Class A shares will be repurchased in proportion to holdings of class A shareholders at a price equivalent to the average price paid for the company’s class B shares in public trading on the date of repurchase. Any shareholder wishing to offer their class A shares for repurchase by the company must state their intention to the company’s Board of Directors in writing. The company may deviate from the obligation to repurchase class A shares in proportion to the shareholders’ holdings if all the holders of class A shares give their consent. Class B shares may be repurchased either by an offer made to all holders of class B shares on the same terms or otherwise and other than in proportion to the then existing shareholdings of the holders of class B shares. Class B shares will be repurchased at a price determined in public trading at the time of the repurchase.

Shares can be repurchased to be used, for example, as consideration in potential corporate acquisitions or other arrangements related to the company’s business activities, to finance investments, to develop the company’s capital structure, for example, as a method of distributing excess capital, or to be held by the company as treasury shares, otherwise disposed of or canceled, or used as part of the company’s incentive schemes.

The Board of Directors is authorized to decide on all other terms related to the repurchase of the company’s own shares.

The Board of Directors proposes that the authorization will be valid until the conclusion of the following annual general meeting, however, at the latest until 30 June 2027. The authorization, when granted, would revoke the authorization to decide on the repurchase of the company’s own shares given to the Board of Directors by the Annual General Meeting on 5 March 2025.

Authorizing the Board of Directors to decide on the issuance of shares as well as the issuance of options and other special rights entitling to shares

The Board of Directors proposes to the General Meeting that the Board of Directors be authorized to decide on the issuance of shares as well as the issuance of options and other special rights entitling to shares referred to in Chapter 10, Section 1 of the Limited Liability Companies Act in one or several instalments as follows:

The number of shares to be issued based on this authorization shall not exceed 7,620,000 class A shares and 45,310,000 class B shares. The proposed maximum number of shares corresponds to approximately 10 percent of the company’s registered number of shares and votes for each share class on the date of this notice. The Board of Directors is authorized to decide on all the conditions of the issuance of shares and of special rights entitling to shares. The authorization concerns both the issuance of new shares as well as the transfer of treasury shares either for consideration or without consideration.

The issuance of shares and of special rights entitling to shares may be carried out in deviation from the shareholders’ pre-emptive rights (directed issue), if there is a weighty financial reason for the company, such as using shares as consideration in potential corporate acquisitions or other arrangements related to the company’s business, financing investments, developing the company’s capital structure, or implementing the company’s incentive schemes, however so that the Board of Directors may issue up to a maximum of 4,531,000 class B shares as part of the company’s incentive schemes, which corresponds to approximately 0.86 percent of all the shares in the company.

The Board of Directors proposes that the authorization will be valid until the conclusion of the following annual general meeting, however, at the latest until 30 June 2027. The authorization, when granted, would revoke the authorization to decide on the issuance of shares given to the Board of Directors by the Annual General Meeting on 5 March 2025.

This Privacy Statement describes the personal data processing related to KONE Corporation’s Annual General Meeting.

Data controller and contact person

KONE Corporation

P.O. Box 7,

02150 Espoo, Finland

agm@kone.com

+358(0)204 75 1

Global Legal, Data Protection Counsel

Keilasatama 3,

02150 Espoo, Finland

personaldatarequest@kone.com

1. Purpose and legal basis for processing personal data

Personal data is collected from persons who register to the Annual General Meeting of KONE Corporation or the webcast for the shareholders of KONE Corporation. The purpose for the collection of personal data is to enable shareholders of KONE Corporation to register to and attend the Annual General Meeting and the webcast and to ascertain a registrant’s identity and his/her right to participate in the Annual General Meeting and the webcast which is only open to the shareholders. Further, the information is used for printing a list of participants, a voting list and ballots for the Annual General Meeting and for arranging voting, if any. A list of votes will be annexed to the minutes of the Annual General Meeting. The list of votes includes the shareholders represented at the Annual General Meeting. Innovatics Oy is the technical provider and maintainer of the registration service. The list of shareholders of the company is maintained by Euroclear Finland Oy.

Innovatics Oy saves the data log created when using the registration web page and may use such data for monitoring purposes, for ensuring the reliability of the service and for user statistics.

In accordance with the General Data Protection Regulation (2016/679, GDPR), the primary legal basis for the processing of personal data is the data controller’s statutory obligation to hold a general meeting based on the Finnish Limited Liability Companies Act (624/2006), which also includes the obligation to draw up the minutes and voting list of the general meeting.

The processing of personal data is also necessary to organize the webcast for the shareholders, in accordance with the General Data Protection Regulation, based on the legitimate interest of the data controller.

2. Processed personal data

The processed personal data include the shareholder’s and their possible proxy’s name, personal identity number and/or business ID, address, contact details, number of shares and votes, voting information, authentication method, basis of representation, date of registration, and information on any assistant, proxy documents and any additional information provided in connection with the registration. When participating in the Annual General Meeting, the time of arrival and departure of each participant are recorded. For technical maintenance and monitoring of the service, log data on registration as well as the user’s IP address are also recorded.

The processed data contains the list of shareholders on the record date created by Euroclear Finland for the Annual General Meeting, containing, e.g., the shareholder’s name, personal identity number/business ID, address, and number of shares.

The processed data contains a temporary list of shareholders created by Euroclear Finland for the Annual General Meeting, containing information on nominee registered shareholders registered for the General Meeting and their number of shares.

3. Regular sources of information

Personal data is collected from the persons themselves or from their representative, mainly in connection with the registration to the Annual General Meeting. When registering via e-mail, mail or telephone, the data controller or Innovatics Oy enters the registrant's personal data into the register.

Based on the personal data provided in connection with the registration, Innovatics Oy retrieves the number of shares of the shareholder on the record date from the list of shareholders created by Euroclear Finland.

4. Regular disclosures of personal data

The personal data is processed for the implementation of the Annual General Meeting in addition to KONE Corporation by the general meeting service provider Inderes Oyj, the technical implementer of the Annual General Meeting system Innovatics Oy and the implementer of the video recording of the Annual General Meeting Flik Helsinki Oy.

Based on the processed personal data, a list of votes and a summary of the votes cast are established and attached to the minutes of the meeting. The list of votes contains information on the name of the shareholder and possible proxy and/or aid, number of the vote ticket (participant number), number of shares by share class, number of votes, basis of representation and means of attendance.

At the Annual General Meeting, in accordance with the Limited Liability Companies Act, the shareholder register is made available, which includes the names of shareholders, municipality, and the number of shares and votes according to the record date of the meeting. The list also contains information on nominee registered shareholders who are temporarily registered in the list of shareholders for the Annual General Meeting. This information is available only through terminal devices located on site of the Annual General Meeting and cannot be printed or otherwise transferred from these devices.

5. Personal data transfers outside the EU or the European Economic Area

The data may be shared with third parties involved in organizing the Annual General Meeting who need the data to provide their services to the data controller. Data is not disclosed for commercial purposes. The data is stored on servers located in the European Economic Area. Data processing services are also mainly provided within the European Economic Area. If personal data is transferred outside of the European Economic Area, an adequate level of data protection is ensured in accordance with the requirements of the GDPR by complying with the adequacy decisions issued by the European Commission or using Standard Contractual Clauses adopted by the European Commission and, where necessary, by implementing supplementary safeguards.

For recipients with Finnish phone numbers, text messages are sent via a Finnish service provider. For those with foreign numbers, text messages are sent using a Swiss service.

6. Principles of the protection of the personal data

Physical data is kept in a locked space and is available only for authorized persons.

Electronic material is stored in a data room that meets the requirements for the processing of personal data. The connection from the user's browser to the server is encrypted. Access to the data is limited to the employees of the data controller and subcontractors who need and process data to organize the Annual General Meeting.

7. Retention and deletion of personal data

Innovatics Oy stores personal data for a maximum of two years after the end of the General Meeting.

Euroclear Finland Oy stores personal data for a maximum of four months after the end of the General Meeting.

A list of participants and votes will be annexed to the minutes of the Annual General Meeting. The list of participants and votes includes the name of the shareholder, number of the ballot and details on ownership (number of shares and votes as well share class). The minutes and its annexes will be stored throughout the operational life of the company, however, for at least 10 years after the end of the financial year, in order to comply with the company’s statutory obligations.

Other information is destroyed when it is no longer necessary to prepare the meeting minutes or to verify its correctness.

8. Data Subjects’ rights

Regardless of secrecy provisions, a shareholder has the right, after having supplied sufficient search criteria, to find out what personal data concerning him or her is being processed or to receive confirmation from the data controller that personal data concerning him or her is not being processed.

The data controller shall, without undue delay, on its own initiative or at a shareholder’s request, rectify, erase or supplement personal data processed by the data controller, provided that such data is erroneous, unnecessary, incomplete or obsolete for the purposes of the processing the data. The data controller shall also prevent the dissemination of such data if this could compromise the protection of privacy of the shareholder or his/her rights. If the data controller refuses a shareholder’s request concerning rectification of an error, a written certificate to this effect shall be issued by the data controller. The certificate must also mention the reasons for the refusal.

A shareholder has the right to object, on grounds relating to his or her particular situation, processing operations carried out by the data controller on his or her personal data to the extent that the processing is based on the legitimate interests of the data controller. If the data subject objects the processing, the data controller may no longer process the personal data unless the data controller can demonstrate a legitimate ground for the processing.

Shareholders have the right, in certain circumstances specified in Article 18 of the GDPR, to request the data controller to restrict the processing of their personal data. A shareholder may request the restriction of the processing of his or her personal data, for example, where the shareholder has objected the processing of his or her personal data and is awaiting verification whether the interests of the data controller outweigh those of the shareholder. If the processing is restricted, the data controller may retain the data, but in principle may not otherwise process them.

Above-described requests, which must be sufficiently detailed, shall be sent to the contact person of the data controller either by email to the address personaldatarequest@kone.com or by letter to the address KONE Corporation, P.O. Box 7, 02150 Espoo, Finland.

In the event the data subjects have concerns or remarks regarding the processing activities described in this privacy statement, they have the right to lodge a complaint with the appropriate data protection supervisory authority, which in Finland is the Office of the Data Protection Ombudsman (https://tietosuoja.fi/en).

Power of Attorney template

Registration form

Notice convening General Meeting published and registration begins 6 February 2026

Record date of the General Meeting 23 February 2026

Registration ends 2 March 2026 at 3:00 p.m. EET

Deadline for proxy documents 2 March 2026 at 3:00 p.m. EET

General Meeting 5 March 2026 at 11:00 a.m. EET

Proposed date of record for dividend distribution 9 March 2026

Proposed payment date for dividend distribution 16 March 2026

The Annual General Meeting of KONE Corporation will be held on Thursday 5 March 2026 beginning at 11:00 a.m. (Finnish time) at Finlandia Hall, Mannerheimintie 13 e, Helsinki. At the General Meeting, the primary language used will be Finnish, with some parts in English. The review by the President and CEO will be held in English. The notice convening the General Meeting, including the matters on the agenda of the General Meeting and the decision proposals, has been published as a stock exchange release on 6 February 2026. The notice convening the General Meeting is available on this website.

The General Meeting can be followed via a webcast. To follow the webcast, the shareholder must register beforehand via the registration link available on this website. “Webcast” is selected from the menu opening behind the registration link. The registration service will collect the contact information (e-mail address and mobile phone number) of the shareholders who have notified that they want to follow the General Meeting via the webcast when registering to the General Meeting. To follow the General Meeting via the webcast, the shareholders must register no later than on 2 March 2026, 3:00 p.m. (Finnish time). If you are unable to register to follow the webcast via the registration link, please contact Innovatics Oy by email at the following address: agm@innovatics.fi. If a holder of nominee registered shares wishes to follow the General Meeting via webcast, such holder of nominee registered shares must, in addition to registering for the General Meeting, register to follow the webcast by e-mail to the address agm@innovatics.fi no later than on 2 March 2026, 3:00 p.m. (Finnish time), so that they can be sent a participation link and password to the webcast.

Each shareholder, who is registered in the shareholders’ register of the company held by Euroclear Finland Oy on the record date of the General Meeting, which is 23 February 2026, has a right to follow the General Meeting via the webcast. A shareholder, whose shares are registered on their personal Finnish book-entry account (including Finnish equity savings account), is registered in the shareholders’ register of the company. A holder of nominee registered shares has a corresponding right by virtue of such shares based on which they on the record date of the General Meeting would be entitled to be registered in the shareholders’ register of the company.

The shareholders following the webcast may present written questions or comments during the General Meeting via a chat functionality provided on the webcast platform. Following the webcast or presenting written questions or comments is not considered participation in the General Meeting or using shareholders’ right to request information or speak at the meeting in accordance with the Limited Liability Companies Act. Written questions presented in the chat are not questions referred to in the Limited Liability Companies Act. The written questions and comments presented in the chat will be brought to the audience of the General Meeting and answered in the General Meeting, if the Chairperson of the meeting considers it appropriate. Should a shareholder want to use their right to request information or speak at the meeting in accordance with the Limited Liability Companies Act, they need to be present or represented at the General Meeting at the meeting venue.

It is advisable to log in to the webcast well in advance of the General Meeting.

The webcast will be provided through Inderes Plc’s virtual general meeting service on the Videosync platform, which includes video and audio access to the General Meeting. Remote access does not require any paid software or downloads. In addition to an internet connection, participation requires a computer, smartphone or tablet with speakers or headphones for sound. One of the following browsers is recommended for participation: Chrome, Firefox, Edge, Safari, or Opera.

The participation link and password for webcast will be sent by e-mail and SMS to the e-mail address and mobile phone number provided at the time of registration to all those shareholders who have registered to follow the General Meeting no later than on the day before the General Meeting.

More information on the general meeting service, contact details of the service provider and instructions in case of possible disruptions can be found here: https://vagm.fi/support. A link to test the compatibility of your computer, smartphone or tablet with the network connection can be found here: https://b2b.inderes.com/knowledge-base/compatibility-testing. It is recommended that you read the detailed participation instructions well in advance of the meeting.

In the event of possible disturbances, the shareholder must contact the following:

- Before the meeting, help with registration is available from Innovatics Oy by calling +358 10 2818 909 on weekdays from 9:00 a.m. to 12:00 p.m. and from 13:00 p.m. to 16:00 p.m. during the registration period to the General Meeting.

- In case of problems with logging in just before or during the General Meeting, help can be obtained by calling +358 10 2818 909 or by email: agm@innovatics.fi.

- In case of problems arising during the General Meeting related to following the meeting, help can be obtained by calling +358 20 729 1449 or by email: support@videosync.fi.

Please find below the current withholding taxation process of dividends paid to holders of nominee registered shares.

As a starting point, withholding tax of 35% will be withheld from dividend payments made on nominee registered shares. In case the custodians are registered with the Finnish Tax Administration’s Register of Authorized Intermediaries, lower withholding tax can be applied based on the required additional information collected. Any tax withheld in excess can be reclaimed after the year of the dividend payment by submitting a refund application to the Finnish Tax Administration, either on paper (form for corporate entities here, and for individuals here), or electronically. You may also be able to receive a refund already during the year of dividend payment via your registered custodian. Please contact your custodian for further information.

Additional information on withholding tax reclaims can be obtained from the Tax Administration either by e-mail whtreclaims@vero.fi (for corporations only) or via the Tax Administration general telephone and chat helplines (for both individuals and corporations). Please note that KONE does not process withholding tax reclaims.

Remuneration report 2025

Annural review 2025