Pia Aaltonen-Forsell discusses her first 75 days as CFO of Outokumpu. She highlights that Outokumpu has engaged and disciplined employees, high quality assets, and is working to increase productivity through numerous local projects. Outokumpu is also a leader in sustainable stainless steel production with high recycled content and a low carbon footprint compared to industry averages. Decreasing short-term financing is also a key priority through reducing debt and utilizing existing credit facilities.

1. My first 75 days at
Outokumpu
CFO Pia Aaltonen-Forsell
May 15, 2019
Bank of America Merrill Lynch
Global Metals, Mining & Steel Conference

2. Engaged and
disciplined
employees
High quality
assets
• Continuos
debottlenecking of
key equipment
• Net working capital
reduction
• Single operating
system
implementation
• Reliability
| May 15, 20192
3% annual productivity increase is based on
numerous local projects

3. We are the world leader in sustainable stainless
steel production
| May 15, 20193
Recycled content, % CO2 footprint, index Our ferrochrome
operations’
CO2 footprint is only
42%
of industry average
84 87 87 87 89
Global average
0
50
100
150
200
250
Outokumpu
Europe & Japan
China
Based on Outokumpu estimates
100%
recyclable
Low
carbon
footprint

4. Decreasing short-term financing is a key priority
| May 15, 20194
17%
16%
4%
15%14%
0%
34%
Debt structure*, %
* March 31, 2018
Debt maturity profile*, EUR million
0
200
400
600
800
2019 2020 2021 2022 2023+
Current debt
Non-current debt
Unutilized facilities
Bonds
Long-term loans
Finance leases
Commercial paper
Convertible bonds
Pension loans
Short-term loans