Outokumpu Oyj - Company Announcement

Outokumpu increases its share in Fennovoima

OUTOKUMPU OYJ
STOCK EXCHANGE RELEASE
February 19, 2014 at 9.00 am EET


Outokumpu confirmed today its binding commitment to the Fennovoima nuclear
project and announced that it will increase its share in Fennovoima to 12.5%.
The capacity reservation increases from 119MW to 150MW, which equals
Outokumpu's original targeted capacity in the new nuclear power plant. 

Says Outokumpu CEO Mika Seitovirta: “Fennovoima is strategically important to
Outokumpu. Our plants in Tornio are the single largest consumer of electricity
in Finland. We want to ensure a stable, predictable and low-carbon energy
source at production cost to our operations in Finland. We also see that
Fennovoima increases energy self-sufficiency in Finland and ensures continued
competition in the Nordic electricity market.” 

In total, Outokumpu's estimated investment is EUR 210 million, taking into
account the total investment of the project and the capital structure of
Fennovoima. Investment is expected to be realized during ten years in
2014-2023, with nearly half of it at the end of the construction phase in
2022-2023. The Fennovoima nuclear power plant is expected to be in commercial
use in 2024. 

For more information:

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

Media: Saara Tahvanainen, tel. +358 40 589 0223

Outokumpu Group


Outokumpu is the global leader in stainless steel and high performance alloys.
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 40 countries, with headquarters in
Espoo, Finland and shares listed in the NASDAQ OMX Helsinki. www.outokumpu.com

Attachments:

Fennovoima 190214 ENG.pdf