Tulikivi Oyj

Report Publication Announcement • Aug 8, 2013

Disclosure 308716

Tulikivi Oyj - Company Announcement

Tulikivi Corporation planning extensive performance improvement programme

TULIKIVI CORPORATION STOCK EXCHANGE RELEASE August, 8., 2013 at 10 a.m. Tulikivi Corporation planning extensive performance improvement programme Tulikivi Corporation is planning a performance improvement programme that will cover all of the company's operations. Known as HEAT 2015, the programme's goal is to improve profitability and place the company back on a growth track. The principal goal of the performance improvement programme is to boost the annual operating result by EUR 7 million, before non-recurring items, by the end of 2015. Measures being planned include rationalising production, reducing costs and increasing sales by renewing the product range, and improving and expanding distribution in Russia and Germany, for example. Production rationalisation and cost reductions are expected to generate approximately half of the improvement in profitability. The company will negotiate with stakeholders on the measures it is planning, and will make the measures public when the plans have been finalised. The estimated non-recurring costs of the performance improvement programme are roughly EUR 3 to 4 million. In addition, the company may make new production investments worth EUR 1 to 2 million. Tulikivi Corporation will also investigate various opportunities to reinforce its financing structure. The performance improvement programme is part of the company's strategy to focus on its core business and competence in order to ensure profitable future growth. TULIKIVI CORPORATION Board of Directors Distribution: NASDAQ OMX Helsinki Key media www.tulikivi.com Additional information: Tulikivi Corporation, FIN-83900 Juuka, Finland, tel. +358 207 636 000, www.tulikivi.com - Jouni Pitko, Managing Director, +358 403 063 222