Metso Interim Review Q1 2015 presentation. For more information, please visit our website www.metso.com/investors

1. © Metso© Metso1
Matti Kähkönen, President and CEO
Harri Nikunen, CFO
April 23, 2015

2. © Metso© Metso
Forward looking statements
It should be noted that certain statements herein which are not historical facts, including, without limitation,
those regarding expectations for general economic development and the market situation, expectations for
customer industry profitability and investment willingness, expectations for company growth, development
and profitability and the realization of synergy benefits and cost savings, and statements preceded by
”expects”, ”estimates”, ”forecasts” or similar expressions, are forward-looking statements. These
statements are based on current decisions and plans and currently known factors. They involve risks and
uncertainties which may cause the actual results to materially differ from the results currently expected by
the company.
Such factors include, but are not limited to:
1) general economic conditions, including fluctuations in exchange rates and interest levels which
influence the operating environment and profitability of customers and thereby the orders received by
the company and their margins
2) the competitive situation, especially significant technological solutions
developed by competitors
3) the company’s own operating conditions, such as the success of production, product development and
project management and their continuous development and improvement
4) the success of pending and future acquisitions and restructuring.
2

3. © Metso© Metso
Safety is our top priority
Continuous focus on our LTIF target of less than 1 leads to results
Actions leading to
improvement
• Active and visible
management support
• HSE part of every decision
• HSE part of incentive plans
• HSE culture development
• Development of safe
working methods
• Learning from every
incident
* LTIF March 20153
100
150
200
250
300
350
400
0
2
4
6
8
10
12
14
Lost time incident frequency(LTIF)
Total number of lost time incidents
LTIF
3.9 *

4. © Metso© Metso
Net sales:
EUR 787 million, -4%
• Services orders flat, services net sales increased
• Mining equipment market very weak; oil & gas-related
project pipeline softened
• Gross margins remained healthy; lower net sales had an
impact on profitability
• Flow Control (valves and pumps) performed well
• Process Automation Systems (PAS) business was sold
to Valmet
Highlights
First quarter 2015
Figures in the brackets refer to same period last year unless otherwise stated
* before non-recurring items
First quarter 2015 pro forma (excl.PAS)
• Orders received EUR 737 million (EUR 791 million)
• Net sales EUR 732 million (EUR 756 million)
• EBITA* EUR 78 million (EUR 85 million)
• EBITA* margin 10.6% (11.3%)
EBITA margin*:
8.9% (10.7%)
Order intake:
EUR 799 million, -9%
4
Gross margin:
30.0% (28.8%)

5. © Metso© Metso
Group order intake
Quarterly Pro forma (excl.PAS)
5
Q1/2015:
• Total services orders were flat; mining services orders grew 11%
• Lower oil & gas project orders in Flow Control, whereas pulp & paper orders increased
• Mining equipment orders on a very low level
1,117
1,466
1,055
828
1,168
1,100
965 982
1,031
968
825
885 875
947
786 801 799
0
200
400
600
800
1000
1200
1400
1600
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
2011 2012 2013 2014 2015
EUR million
Services ordersreceived Capital ordersreceived
791
834
730 723 737
0
200
400
600
800
1,000
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Services orders received Capital orders received

6. © Metso© Metso
Orders by country
6
27 %
22 %21 %
20 %
10 %
Europe
North America
South America
Asia-Pacific
Africa and Middle East
EUR million Q1/2015 Q1/2014 Change %
USA 143 135 6
Brazil 56 70 -20
Chile 53 37 43
China 51 75 -32
Australia 44 48 -9
Finland 43 38 12
Canada 36 54 -34
Mexico 28 22 27
Sweden 26 27 -2
India 24 35 -32
Others 295 333 -11
Metso total 799 875 -9

7. © Metso© Metso Metso
Group net sales
Quarterly Pro forma (excl.PAS)
7
Q1/2015:
• Services net sales grew 7% overall
• Flow Control (valves and pumps) +14%
• 47% decline in mining equipment sales
744
871 901
1,156
959
1,116 1,075
1,132
915
988
937
1,018
817
962
861
1,018
787
0
200
400
600
800
1000
1200
1400
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
2011 2012 2013 2014 2015
EURmillion
Services netsales Capital netsales
756
884
804
915
732
0
200
400
600
800
1 000
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Service net sales Capital net sales

8. © Metso© Metso
EBITA* and EBITA margin*
EBITA* target:
15% by 2017
8
*Before non-recurring items
** Pro forma (excl. PAS)
Pro forma (excl. PAS)
EBITA* % Q1/2015 Q1/2014 Q1/2015**
Minerals 9.9 11.3 9.9
Flow Control 9.2 11.1 16.7
Metso Total 8.9 10.7 10.6
86
121
99
120
78
11.3
13.7
12.4
13.0
10.6
0
2
4
6
8
10
12
14
16
0
50
100
150
200
Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015
%
EBITA* EBITA* %
67
75
107
149
83
136 129
138
103
118
129
147
88
131
103
137
70
9.1 8.7
11.9
12.9
8.7
12.2 12.0 12.2
11.2
11.9
13.7
14.4
10.7
13.6
12.1
13.5
8.9
0
2
4
6
8
10
12
14
16
0
50
100
150
200
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
2011 2012 2013 2014 2015
%EUR million
EBITA * EBITA* %

9. Harri Nikunen
CFO
Financial
performance

10. © Metso© Metso
Group key figures
* Before non-recurring items
• Major headwind from lower net sales for mining equipment
• Healthy gross margins
• No non-recurring items in EBIT
10
EUR million Q1/2015 Q1/2014 Change%
Orders received 799 875 -9
without currency impact -15
Services orders received 542 545 -1
without currency impact -6
Net sales 787 817 -4
without currency impact -10
Services net sales 470 438 7
% of net sales 60 54
EBITA * 70 88 -20
% of net sales 8.9 10.7
EBIT ** 65 76 -14
Earnings per share, EUR 0.25 0.28 -11

11. © Metso© Metso
EBITA declined due to volume
* Before non-recurring items11
Note: Volume, margin, and SG&A changes calculated with constant currencies. Currency impact is included in ’FX rates & Others’.

12. © Metso© Metso
Our balance sheet remains strong
*Annualized12
Dec 31, 2014
15.7
16.4
45.6
108
41.2
1.3
6.2
Mar 31, 2015
12.6
12.9
41.4
235
43.0
1.4
8.4
Return on equity (ROE), % *
Return on capital employed (ROCE) before taxes, % *
Gearing at the end of the period, %
Cash conversion, %
Debt to capital, %
Net debt / EBITDA *
Interest cover (EBITDA) *

13. © Metso© Metso
Minerals key figures
* Before non-recurring items
** Excluding cash and other non-operative balance sheet items,
Q1/2015:
• Strong growth in mining services (wear parts and performance services)
• Good gross margins
• Cost actions to continue to mitigate pressure from lower volumes
13
EUR million Q1/2015 Q1/2014 Change%
Orders received 558 597 -7
without currency impact -13
Services orders received 406 386 5
Net sales 563 608 -7
without currency impact -13
Services net sales 351 323 9
% of net sales 62 53
EBITA * 55 69 -19
% of net sales 9.9 11.3
Return on operative capital
employed **, %
16.9 19.1

14. © Metso© Metso
Minerals rolling net sales and EBITA%
* Before non recurring items14
11.3%
10.9%
10.4%
10.7%
10.9% 11.6%
11.9% 11.9%
12.5%
12.3%
12.7%
13.0%
12.7%
13.2%
12.8%
12.6%
12.3%
0%
2%
4%
6%
8%
10%
12%
14%
0
500
1 000
1 500
2 000
2 500
3 000
3 500
4 000
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
2011 2012 2013 2014 2015
%
EUR million
Services net sales, rolling 12 months Capital net sales, mining, rolling 12 months Capital net sales, construction, rolling 12 months EBITA* %, rolling 12kk

15. © Metso© Metso
Flow Control key figures
Excluding PAS
* Before non-recurring items
** Excluding cash and other non-operative balance sheet items,
Q1/2015:
• New equipment deliveries in the valves business grew 28%
• Strong performance overall with improved EBITA margin
• Healthy backlog for remainder of 2015
15
EUR million Q1/2015 Q1/2014 Change%
Orders received 179 194 -8
Services orders received 101 114 -11
Net sales 170 149 14
Services net sales 89 87 3
% of net sales 52 58
EBITA * 28 21 33
% of net sales 16.7 14.2

16. © Metso© Metso
Flow Control rolling net sales and EBITA%
* Before non-recurring items
Excluding PAS
16
10.5% 10.7%
11.7% 11.2%
10.8%
11.7% 11.6% 12.1% 12.3%
13.3%
14.8%
15.6%
16.6% 16.8%
17.0% 16.6%
17.1%
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
0
100
200
300
400
500
600
700
800
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
2011 2012 2013 2014 2015
%
EUR Million
Services net sales, rolling 12 months Capital net sales, rolling 12 months EBITA* %, rolling 12 mths

17. Matti Kähkönen
President and CEO
Outlook and guidance

18. © Metso© Metso
18% of net sales*
of which 50% services
Current demand:
• Satisfactory for capex projects
• Services good
*year-to-date 2015
Challenging outlook for new equipment demand
48% of net sales*
of which 75% services
Current demand:
• Weak for the equipment and
project business
• Services good
23% of net sales*
of which 40% services
Current demand:
• Satisfactory for equipment and good
for services
3 - 6 months market outlook
Equipment Services
 
Equipment Services
 
Equipment Services

Mining Aggregates Flow Control
18

19. © Metso© Metso
Order backlog
• Flow Control (excl. PAS) backlog 10% higher compared to the end of 2014
• Minerals services backlog 12% higher compared to the end of 2014
• Deliveries for 2015 stand at EUR 1.3 billion
19
Flow Control Minerals, services Minerals, capital
Deliveries in
2015
Deliveries after
2015
Deliveries in
2014
Deliveries after
2014
0
500
1 000
1 500
2 000
2 500
Order backlog Mar 31, 2014 Order backlog Mar 31, 2015
EUR million
2 010
1 364
1 730
2 506
2 324
1 927
1 575
1 631
0
1 000
2 000
3 000
Q4 Q4 Q4 Q4 Q4 Q4 Q4 Q1
2008 2009 2010 2011 2012 2013 2014 2015
EUR Million

20. © Metso© Metso *before non-recurring items
The guidance for 2015 is based on the
current market activity in our customer
industries, our current backlog for 2015, and
the current exchange rates.
We estimate that
• our net sales in 2015 will be between
EUR 3,000 and 3,300 million and
• our EBITA margin* before non-
recurring items for 2015 will be around
13%.
Guidance for 2015
Excluding the Process Automation Systems business
20

21. © Metso© Metso The Metso Way | April 201521
The Metso Way – how we solve our customers’
challenges
Our committed and
highly competent
people make the big
difference to our
customers.
We have deep
knowledge about our
customers' business
environment, drivers
and challenges.
Knowledge People Solutions
We create the
technology and
services required
to meet our
customers’ needs.

22. © Metso© Metso22

23. company/metso metsogroup metsoworldmetsoworld metsogroup
www.metso.com