Metso Capital Markets Day 2017. For more information, please visit www.metso.com/cmd2017.

1. © Metso
Building on a strong financial foundation
Metso Capital Markets Day
June 1, 2017
Eeva Sipilä
CFO

2. © Metso
We deliver solutions for
Metso Capital Markets Day 2017 | Eeva Sipilä | CFO2
Metso today – a world leading industrial company
• Leading technology and services provider for
end-to-end minerals processing
• Leading flow control provider for
oil & gas, mining and process industries
11,000
committed employees
worldwide
Sales
EUR 2.6 billion
34%
66%
MINING AGGREGATES FLOW CONTROL
Services
Equipment
* Sales based on rolling 12 month figures Q2/2016-Q1/2017

3. © Metso Metso Capital Markets Day 2017 | Eeva Sipilä | CFO3
We maintain strong market positions in our businesses...
#1
Aggregates
crushing and
screening
#1
Mining
crushers and
grinding mills
#1
Metal recycling
equipment
#1
Services for
minerals
processing
#1
Pulp and paper
valves
#3
Intelligent
valve
controllers
Strong position in automated
on/off valves
A global leader in slurry pumpsStrong position in control valves

4. © Metso© Metso
...despite challenging markets in the past few years...
EUR million
Improved market outlook for 2017
Metso Capital Markets Day 2017 | Eeva Sipilä | CFO4
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
20%
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
5,000
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
2013 2014 2015* 2016 2017
Services sales, rolling 12 months Equipment sales, rolling 12 months
Adjusted EBITA %, rolling 12 months Return on Capital Employed (ROCE) before tax, annualized, % *
*ROCE excluding gain on divestment of Process Automation System business

5. © Metso
...with a strong focus on free cash flow
EUR million
Healthy cash generation in challenging markets
• High share of services sales
supports cash generation
• We have tightly managed capex in
recent years – well below
depreciation and amortization
• During 2017-2018 we expect capex
to grow:
• we invest in organic growth, but
• remain below depreciation and
amortization.
Metso Capital Markets Day 2017 | Eeva Sipilä | CFO
0
20
40
60
80
100
120
140
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
2014 2015 2016 2017
Free cash flow
5

6. © Metso
Net working capital relative to sales has remained
stable
651 686 720 709 671 645 592 598 610 588 550 487 496
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
2014 2015 2016 2017
-1,000
-500
0
500
1,000
1,500
2,000
Inventory Trade receivables
Trade payables Net of other receivables and payables
Net of advances received and POC
21% 21% 20% 20% 19% 20% 22% 22% 21% 19% 19%19% 20%
% Net working capital, % of sales
EUR million
€ Net working capital, EUR million
Breakdown of net working capital
Metso Capital Markets Day 2017 | Eeva Sipilä | CFO6

7. © Metso
Our strong balance sheet...
We are net debt free
• The strong cash flow from operations
has strengthened balance sheet
• EUR 252 million proceeds from the
divestment of the Process Automation
Systems business in 2015 further
reduced net debt.
• Gearing was -4.7% on March 31, 2017
• S&P rating of BBB with a stable
outlook (as of March 2017)
Metso Capital Markets Day 2017 | Eeva Sipilä | CFO7
-0.5
0
0.5
1
1.5
-250
0
250
500
750
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
2014 2015 2016 2017
Net debt Net debt / EBITDA
EUR million

8. © Metso© Metso
...and long-term funding structure support our growth
strategy
EUR million
Ongoing tender and new Euro Bond aimed to lengthen maturity structure
0
200
400
600
800
1,000
1,200
1,400
1,600
1.1.2016 09/2016 06/2017 03/2018 12/2018 09/2019 06/2020 03/2021 12/2021 09/2022
New Euro Bond 2024
Syndicated term loan
June 2017
Euro Bond 2019
Private placements
Short-term debt
Undrawn committed facilities
Metso Capital Markets Day 2017 | Eeva Sipilä | CFO8

9. © Metso Metso Capital Markets Day 2017 | Eeva Sipilä | CFO9
Our cash allocation priorities are unchanged...
We will maintain a capital structure and liquidity position that secure our:
• Ability to execute our dividend policy (>50% of EPS)
• Investment-grade credit rating
2. Acquisitions 3. Shareholder returns1. Organic growth
And use excess cash for

10. © Metso© Metso
…and our financial targets remain the same
Targeting higher profitability and lower volatility
Growth
Sales growth
exceeding market
growth
Profitability
Adjusted EBITA >15%
Capital
employed
Return on capital
employed (ROCE)
before taxes >30%
Metso Capital Markets Day 2017 | Eeva Sipilä | CFO10

11. © Metso Metso Capital Markets Day 2017 | Eeva Sipilä | CFO11
Strategy execution focuses on profitable growth…
• Delivering the best customer experience
• Providing full scope of services
• Entering into new customer markets and segments
• Developing distributor business and other new channel partners
• Renewing and standardizing product portfolio
• Operating lean and efficiently
• Developing our people and driving organizational efficiency
• Mastering digital transformation

12. © Metso Metso Capital Markets Day 2017 | Eeva Sipilä | CFO12
... and identified actions to reach our financial targets
Profitable growth
• Further increase sales to our
own installed base
• Add new channels to markets in
both Aggregates and Flow
Control
• Focus in replacement & upgrade
sales in Mining
• Expand portfolio horizontally in
Flow Control
• Widen and strengthen our
offering through digitalization
>30%
Key elements
ROCE
>15%
adjusted
EBITA
Operational excellence
• Safety
• Quality
• Procurement efficiencies
• Cost management
• Pricing discipline
• Stability
• Standardization
• Digitalization
Capital efficiency
• Lean operations
• Agile supply chain
• Standardization
• Outsourced business model in
Mining
Target

13. © Metso© Metso
Growth
We will grow faster
than the market
Profitability
Operational efficiency
will improve our
profitability
Returns
Improved capital
efficiency will
increase returns
We are focused on creating shareholder value
Metso Capital Markets Day 2017 | Eeva Sipilä | CFO13

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www.metso.com