Outokumpu Oyj — M&A Activity 2012

Jan 23, 2012

Outokumpu confirms preliminary discussions with ThyssenKrupp to evaluate strategic options

Outokumpu confirms preliminary discussions with ThyssenKrupp to evaluate strategic options

STOCK EXCHANGE RELEASE
23 January 2012 at 10.00 am EET

Following recent speculation, Outokumpu confirms preliminary discussions with
ThyssenKrupp to evaluate potential strategic options, including a potential
business combination of Outokumpu and Inoxum.

These discussions are ongoing and there can be no assurance that any transaction
will be proposed or consummated, and if so, what the parameters of such
transaction might be.
A further announcement will be made as and when appropriate.

For more information, please contact:

Kari Tuutti, SVP - Communications and Investor relations,
tel. +358 9 421 2432
kari.tuutti@outokumpu.com

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#1579300]

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