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Arrowgrass Has Agreed to an Extension of Its Irrevocable Undertaking Regarding Its Holdings in Basware Corporation

The investment funds of Arrowgrass Capital Partners LLP (“Arrowgrass ”) hold, directly and indirectly, over 24 per cent of all shares and votes in Basware Corporation (“Basware ”), a Finnish listed company providing networked source-to-pay solutions and e-invoicing services. Arrowgrass refers to the announcements made by Basware on 16 November 2018, 20 November 2018 and 7 December 2018 with regard to a possible tender offer by Tradeshift Holdings Inc. (“Tradeshift ”) for Basware.

Arrowgrass announces that it has agreed, under certain conditions, to extend an irrevocable undertaking with Tradeshift to accept a tender offer by Tradeshift for Basware, should Tradeshift publicly announce its tender offer in accordance with applicable laws and regulations no later than 28 February, 2019.

Arrowgrass recognizes that Basware has emphasized in its announcements that the launch of the tender offer remains uncertain.

About Arrowgrass

Arrowgrass Capital Partners LLP is a London headquartered alternative asset manager that was founded in February 2008. Currently, Arrowgrass manages the following four funds: Arrowgrass Master Fund Ltd., Arrowgrass Equity Focus Fund Limited, Arrowgrass Customised Solutions I Limited, and Arrowgrass Inflection Fund Limited.

Contact:

Media: Shawn Pattison and William Braun Abernathy MacGregor 212-371-5999 shp@abmac.com / whb@abmac.com

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