Outokumpu Oyj — M&A Activity 2011

May 24, 2011

Outokumpu sold its holding in Tibnor AB

Outokumpu sold its holding in Tibnor AB

STOCK EXCHANGE RELEASE
24 May at 9.30 am EET

Outokumpu has sold its 15% holding in Tibnor AB, a leading Nordic distributor of
steel and metals, to SSAB. Total consideration of the sale amounts to EUR 44
million and will be paid in cash. Outokumpu will book a tax-free capital gain of
some EUR 36 million as financial income in the Group's second quarter accounts.
The transaction will have a marginal impact on Outokumpu's gearing due to the
fair-value accounting of this holding on Outokumpu's balance sheet.

For further information:

Hanna Masala, VP - M&A and Business Development
tel. +358 9 421 5561, mobile +358 40 558 1323

Ingela Ulfves, VP - Investor Relations and Financial Communications
tel. +358 9 421 2438, mobile +358 40 515 1531

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 8 000 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#1518120]

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