core sector communique

Outokumpu announces plans on the new Outokumpu Leadership Team

27 April at 8.30 am EET

Today Outokumpu announced preliminary plans concerning the new Outokumpu Leadership Team to take effect upon the closing of the business combination of Outokumpu and Inoxum following regulatory approval.

The proposed Leadership Team would be composed of the following individuals:

• Mika Seitovirta, CEO
• Esa Lager, CFO
• Ulrich Albrecht-Früh, head of Stainless Coil EMEA
• Kari Parvento, head of Stainless Coil Americas and head of Ferrochrome
• Jarmo Tonteri, head of Specialty Stainless and Alloys
• Austin Lu, head of Stainless Asia
• Reinhard Florey, head of Strategy and Integration
• Kari Tuutti, head of Marketing, Communications and IR
• Head of HR will be nominated at a later stage

Ulrich Albrecht-Früh and Reinhard Florey are currently part of the Inoxum management team while the other post-closing Leadership Team members are currently part of the Outokumpu management. Pii Kotilainen, current head of Outokumpu HR, will continue in her current role until the final HR appointment is made. She will continue in another senior role in Outokumpu which will be announced at a later stage. Hannu Hautala, member of the Outokumpu Group Executive Committee and Karsten Lork and Frank Brüggestrat, members of the Inoxum management board, are planned to have senior roles in the Stainless Coil EMEA after the closing.

Until completion of the transaction, Outokumpu and Inoxum will continue to operate as separate and independent business operations. The current Outokumpu Group Executive Committee members continue to operate with full authority in their current roles.

OUTOKUMPU OYJ

Outokumpu is a global leader in stainless steel with the vision to be the undisputed number one. Customers in a wide range of industries use our stainless steel and services worldwide. Being fully recyclable, maintenance-free, as well as very strong and durable material, stainless steel is one of the key building blocks for sustainable future. Outokumpu employs some 8 000 people in more than 30 countries. The Group’s head office is located in Espoo, Finland. Outokumpu is listed on the NASDAQ OMX Helsinki.