Outokumpu completes the divestment of 55% share in

OUTOKUMPU OYJ STOCK EXCHANGE RELEASE December 10, 2015 at 11.30 am EET

Outokumpu has completed the transaction regarding Shanghai Krupp Stainless Co., Ltd (SKS) in China that was announced on October 19, 2015. In the transaction, Outokumpu divested 55 percent of SKS shares to Lujiazui International Trust Co., Ltd. Outokumpu still holds a five percent share of SKS and continues to operate the cold rolling mill.

The transaction cash value of the divestment of Outokumpu’s 55% holding in SKS is about EUR 370 million, with net cash proceeds of approximately EUR 350 million. As a result of the transaction, Outokumpu’s net debt decreases by approximately EUR 430 million and gearing by approximately 33 percentage points on a pro forma basis (Outokumpu gearing was 96.5% at the end of the third quarter 2015). Outokumpu records a non-recurring capital gain of approximately EUR 330 million in the fourth quarter results.

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Johanna Henttonen, tel. +358 9 421 3804, mobile +358 40 530 0778

Outokumpu Group Outokumpu i s a global leader in stainless steel. We create advanced materials that are efficient, long lasting and recyclable – thus building a world that lasts forever. Stainless steel, invented a century ago, is an ideal material to create lasting solutions in demanding applications from cutlery to bridges, energy and medical equipment: it is 100% recyclable, corrosion-resistant, maintenance-free, durable and hygienic. Outokumpu employs more than 12 000 professionals in more than 30 countries, with headquarters in Espoo, Finland and shares listed in Nasdaq Helsinki. www.outokumpu.com