Outokumpu Oyj - Company Announcement

Outokumpu Oyj - share based incentive programme 2006-2010

STOCK EXCHANGE ANNOUNCEMENT
February 2, 2011 at 9.30 am EET


On February 1, 2011, the Outokumpu Board of Directors confirmed that the
earnings criteria of the third earnings period (2008-2010) of the share-based
incentive programme 2006-2010 were not achieved. The criteria set for the
earnings period 2008-2010 were relative development in Total Shareholder Return
(TSR) performance compared to a peer group and the combined benefits of the
excellence programmes. Achieving each criteria was set to result in 50% payment
of the maximum reward. The Board confirmed that the set minimum performance
level was not achieved for either criterion. Therefore, no reward will be paid
to the participants for the third earnings period 2008-2010.

OUTOKUMPU OYJ


Outokumpu is a global leader in stainless steel with the vision to be the
undisputed number one. Customers in a wide range of industries use our stainless
steel and services worldwide. Being fully recyclable, maintenance-free, as well
as very strong and durable material, stainless steel is one of the key building
blocks for sustainable future. Outokumpu employs some 7 500 people in more than
30 countries. The Group's head office is located in Espoo, Finland. Outokumpu is
listed on the NASDAQ OMX Helsinki.
www.outokumpu.com


[HUG#1484387]

Attachments:

ENG Share-based incentive programme 2006-2010.pdf