Outokumpu Oyj — Share Issue/Capital Change 2021

Dec 17, 2021

Outokumpu – Next plan period 2022–2024 for share-based programs and a payment of the 2021 share rewards

Outokumpu – Next plan period 2022–2024 for share-based programs and a payment of the 2021 share rewards

Outokumpu Oyj
Stock exchange release
December 17, 2021 at 4.15 pm EET

Outokumpu – Next plan period 2022–2024 for share-based programs and a payment of
the 2021 share rewards

As part of the long-term incentive programs for key employees in Outokumpu, the
Board of Directors has approved the commencement of the plan period 2022–2024
for the company’s share-based programs. Furthermore, the Board approved the
deliveries of a share reward from the Restricted Share Pool 2019–2021.

Plan periods for share-based programs 2022–2024

The Board of Directors has approved the commencement of Outokumpu’s share-based
programs for the period 2022–2024, the Performance Share Plan and the Restricted
Share Pool. The plans commence at the beginning of 2022.

The earning criteria of the Performance Share Plan for this period are
Outokumpu's return on capital employed. The maximum number of participants in
the plan period 2022–2024 is 150 key employees. The maximum number of gross
shares (taxes included) that can be allocated is 3,700,000.

The Restricted Share Pool is used for a limited number of employees, i.a., in
cases of key recruitments, exceptional performance, high potential, retention
need, and other individual specific situations. The maximum number of gross
shares (taxes included) that can be allocated is 500,000 for the plan period
2022–2024.

The share rewards will be distributed in the spring of 2025, if the employment
conditions and performance criterion are met. Applicable taxes will be deducted
from gross shares, and the remaining net value will be delivered to the
participants in Outokumpu shares.

A share reward in the Restricted Share Pool 2019–2021

The Board of Directors has approved the delivery of a share reward in advance
from the Restricted Share Pool 2019–2021. When Pia Aaltonen-Forsell was employed
in December 2018, it was agreed that she would be paid her share reward from the
Restricted Share Pool 2019–2021 already in December 2021 instead of the spring
2022. After deduction for applicable taxes, the total net number of shares
delivered will be 10,950 by the end of December 2021. Decisions regarding the
other share rewards from the plans ending in 2021 will be made in due course and
distributed in spring 2022.

More information on share-based programs and their terms is available at
www.outokumpu.com/en/investors/governance/remuneration/share-based-incentive
-programs.

For more information:

Investors: Linda Häkkilä, Head of Investor Relations, tel. +358 40 071 9669

Media: Päivi Allenius, VP – Communications, tel. +358 40 753 7374

Outokumpu Oyj

Outokumpu is the global leader in stainless steel. The foundation of our
business is our ability to tailor stainless steel into any form and for almost
any purpose. Stainless steel is sustainable, durable and designed to last
forever. Our customers use it to create civilization’s basic structures and its
most famous landmarks as well as products for households and various industries.
Outokumpu employs some 9,500 professionals in more than 30 countries, with
headquarters in Helsinki, Finland and shares listed in Nasdaq Helsinki.
www.outokumpu.com