Stora Enso to build world-class EUR 1.6 billion consumer board and pulp mill in China - Presentation by CEO Jouko Karvinen

1. Stora Enso to build world-class consumer board
and pulp mill in Southern China
Jouko Karvinen, CEO
20 March 2012

2. Rethink strategy
 Growth markets
 Renewable
packaging
 Biomaterials
 Competitive paper

3. Strongest growth in demand of virgin fibre-based
consumer board will be in Asia
CAGR
CAGR CAGR
0,2 %
1,4 % 4,6 %
CAGR
6,9 %
Eastern
Europe
Western CAGR
Europe 3,3 %
North
America
Middle East
& Africa
Fibre-based consumer Asia
board consumption CAGR
2010-2020 CAGR
3,5 %
Million tonnes
China 9%
Pakistan 9%
South India 6%
America
Middle East 4%
Stora Enso presentation March 20, 2012 Source: Pöyry and Stora Enso 3

4. Accelerate what works
Every third
beverage carton
in the world is
produced from
Stora Enso
materials!
Stora Enso presentation March 20, 2012 4

5. Stora Enso’s Operations in China
Personnel currently about 4 500 in China
Dawang Mill
Uncoated magazine paper (170 000 tonnes)
Beijing
Suzhou Mill
Coated fine paper (245 000 tonnes). Customers include
merchants and printing houses
Shanghai
Two core factories
Hangzhou and Foshan
Beihai
Hong Kong
5 Sales branches
Eucalyptus plantations ( 90 000 ha)
Dongguan and Qian’an ( (Inpac)
Guangxi (since 2002)
Stora Enso presentation March 20, 2012 5

6. Stora Enso presentation March 20, 2012 6

7. Focusing on high quality segments in China
Chinese platform
Unique position
for growth
 A world leading position  Unique integrate
 Technologies and  Established footprint
specifications
 Innovation
 Committed customers
Well prepared project to accelerete growth
Stora Enso presentation March 20, 2012 7

8. Project investment approximately EUR 1.6 billion
Stora Enso presentation March 20, 2012 8

9. Independent sustainability impact studies gives solid
platform for the project
UNDP’s Environmental and Social Occupational Health and Safety
impact analysis (ESIA) in 2006 Certificate ISO 18001
Additional integrated ESIA in 2012 Environmental Management
System ISO 14001
Quality Management System ISO
9001
Stora Enso presentation March 20, 2012 9

10. Recap
Growth market
Local virgin fibre
Consumer demand growth
Product differentiation
Responsible business
Stora Enso presentation March 20, 2012 10

11. It should be noted that certain statements herein which are not historical facts, including, without
limitation those regarding expectations for market growth and developments; expectations for growth
and profitability; and statements preceded by “believes”, “expects”, “anticipates”, “foresees”, or similar
expressions, are forward-looking statements within the meaning of the United States Private Securities
Litigation Reform Act of 1995. Since these statements are based on current plans, estimates and
projections, they involve risks and uncertainties which may cause actual results to materially differ from
those expressed in such forward-looking statements. Such factors include, but are not limited to: (1)
operating factors such as continued success of manufacturing activities and the achievement of
efficiencies therein, continued success of product development, acceptance of new products or services
by the Group’s targeted customers, success of the existing and future collaboration arrangements,
changes in business strategy or development plans or targets, changes in the degree of protection
created by the Group’s patents and other intellectual property rights, the availability of capital on
acceptable terms; (2) industry conditions, such as strength of product demand, intensity of competition,
prevailing and future global market prices for the Group’s products and the pricing pressures thereto,
price fluctuations in raw materials, financial condition of the customers and the competitors of the
Group, the potential introduction of competing products and technologies by competitors; and (3)
general economic conditions, such as rates of economic growth in the Group’s principal geographic
markets or fluctuations in exchange and interest rates.

12. Stora Enso presentation March 20, 2012
21, 12