diff --git a/constructor/winexe.py b/constructor/winexe.py
index a53fa03ae..7f2bce6af 100644
--- a/constructor/winexe.py
+++ b/constructor/winexe.py
@@ -177,13 +177,12 @@ def make_nsi(info, dir_path, extra_files=()):
         replace['CONCLUSION_TITLE'] = conclusion_lines[0].strip()
         # See https://nsis.sourceforge.io/Docs/Modern%20UI/Readme.html#toggle_pgf
         # for the newlines business
-        replace['CONCLUSION_TEXT'] = "\\r\\n".join(conclusion_lines[1:])
+        replace['CONCLUSION_TEXT'] = "\r\n".join(conclusion_lines[1:])
 
     for key, value in replace.items():
         if value.startswith('@'):
             value = join(dir_path, value[1:])
-        newlines = key not in ("CONCLUSION_TEXT",)
-        replace[key] = str_esc(value, newlines=newlines)
+        replace[key] = str_esc(value)
 
     data = read_nsi_tmpl(info)
     ppd = ns_platform(info['_platform'])
diff --git a/examples/noconda/construct.yaml b/examples/noconda/construct.yaml
index 2b0230753..5ce38d449 100644
--- a/examples/noconda/construct.yaml
+++ b/examples/noconda/construct.yaml
@@ -7,5 +7,6 @@ specs:
   - python
 conclusion_text: |
   Thanks for installing NoConda!
-
   You are now ready to run your Python installation.
+  This is a second line and should appear as such on the installer UI.
+  This would be the third one.
diff --git a/news/550-conclusion-text b/news/550-conclusion-text
new file mode 100644
index 000000000..580d17174
--- /dev/null
+++ b/news/550-conclusion-text
@@ -0,0 +1,25 @@
+Enhancements:
+-------------
+
+* Enable `conclusion_text` on Windows `.exe` and Unix `.sh` installers (#443 via #547 and #550).
+
+Bug fixes:
+----------
+
+* <news item>
+
+Deprecations:
+-------------
+
+* <news item>
+
+Docs:
+-----
+
+* <news item>
+
+Other:
+------
+
+* <news item>
+