Investor Presentaiton

BOARD OF DIRECTORS' REPORT Sales KONE's sales grew by 5.8% as compared to January- December 2020, and totaled EUR 10,514.1 million. At comparable exchange rates, KONE's sales grew by 5.3%. The sales consolidated from the companies acquired in 2021 had only a minor impact on KONE's sales for the financial period. New equipment sales grew by 4.4% at comparable exchange rates thanks to strong growth in China during the first half. Service sales grew by 6.3% at comparable exchange rates supported by a normalization in both maintenance and modernization activities. At comparable exchange rates, maintenance sales grew by 7.5% and modernization sales grew by 3.4%. KONE's elevator and escalator maintenance base continued to grow and was close to 1.5 million units at the end of 2021 (over 1.4 million units at the end of 2020). The growth of the maintenance base was driven, in particular, by a continued good level of conversions of new equipment deliveries to the maintenance base. Acquisitions had only a minor positive contribution to the growth. In 2021, the balance of maintenance contracts that were won from or lost to competition was slightly negative. The largest individual countries in terms of sales were China (~35%), The United States (15%), Germany (6%) and France (5%). Sales in the EMEA region grew by 3.1% and totaled EUR 4,036.9 million. At comparable exchange rates, sales grew by 3.3%. New equipment sales grew slightly, maintenance sales grew clearly and modernization sales grew slightly in the region. In the Americas, sales declined by 1.9% and totaled EUR 1,902.9 million. At comparable exchange rates, sales grew by 0.6%. New equipment sales declined clearly, maintenance sales grew clearly and modernization sales grew slightly in the region. In Asia-Pacific, sales grew by 12.0% and totaled EUR 4,574.3 million. At comparable exchange rates, sales grew by 9.2%. New equipment sales grew clearly, maintenance sales grew significantly and modernization sales grew significantly in the region. Sales by region MEUR EMEA Americas Asia-Pacific Total sales Sales by business Change at comparable 2021 2020 Change exchange rates 4,036.9 3,916.2 3.1% 3.3% 1,902.9 1,939.5 -1.9% 0.6% 4,574.3 4,082.8 12.0% 9.2% 10,514.1 9,938.5 5.8% 5.3% Change at comparable MEUR 2021 2020 Change exchange rates New equipment sales 5,637.7 5,340.2 5.6% 4.4% Service sales 4,876.4 4,598.4 6.0% 6.3% 3,450.6 3,215.6 7.3% 7.5% 1,425.9 10,514.1 1,382.8 3.1% 3.4% 9,938.5 5.8% 5.3% Maintenance Modernization Total sales Sales development by region and by business* EMEA Americas Asia-Pacific *) in monetary value at comparable exchange rates New equipment Maintenance Modernization + ++ + ++ +++ + +++ ++ Significant decline (>10 %), -- Clear decline (5-10 %), - Slight decline (<5 %), Stable, + Slight growth(<5 %), ++ Clear growth (5-10 %), +++ Significant growth (>10 %) Terminology: Slight <5%, clear 5-10%, significant >10% 8 KONE ANNUAL REVIEW 2021

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