Stora Enso Oyj — Capital/Financing Update 2021

Dec 1, 2021

Stora Enso signs a EUR 700 million revolving credit facility linked to sustainability targets

Stora Enso signs a EUR 700 million revolving credit facility linked to sustainability targets

STORA ENSO OYJ STOCK EXCHANGE RELEASE 1 December 2021 at 14.00 EET

Stora Enso signs a new EUR 700 million revolving credit facility (RCF) agreement
with a syndicate of 12 banks to refinance its existing EUR 600 million facility.
The five-year facility has two one-year extension options and will be used as a
backup for general corporate purposes.

The pricing mechanism of the RCF is linked to Stora Enso’s science-based climate
targets. Stora Enso commits to reducing absolute scope 1 and 2[ ]greenhouse gas
(GHG) emissions from its own operations, as well as scope 3 GHG emissions from
its value chain, by 50% by 2030 from the 2019 base-year. The targets relating to
own operations are aligned with the scenario that limits global warming to 1.5
degrees. The science-based targets have been approved by the Science Based
Targets initiative.

Crédit Agricole Corporate and Investment Bank, Nordea and OP Corporate Bank
acted as Coordinators, Bookrunners and Mandated Lead Arrangers for the facility.
Nordea acted as the sustainability coordinator for the RCF. Bank of America, BNP
Paribas, Danske Bank, Deutsche Bank, DBS Bank Ltd, London Branch, DNB Bank ASA,
J.P. Morgan Securities plc, National Westminster Bank PLC, and SEB joined in
syndication as Mandated Lead Arrangers.

“Connecting Stora Enso’s sustainability performance to our revolving credit
facility is an important enabler for us to continue to execute our business
strategy. We are pleased with the refinanced facility and the continued support
of our banking partners,” says Group Treasurer Pasi Kyckling.

For further information, please contact:
Pasi Kyckling
SVP Group Treasurer
tel. +358 40 820 6902

Investor enquiries:
Anna-Lena Åström
SVP Investor Relations
tel. +46 70 2107691

Part of the bioeconomy, Stora Enso is a leading global provider of renewable
solutions in packaging, biomaterials, wooden constructions and paper. We believe
that everything that is made from fossil-based materials today can be made from
a tree tomorrow. Stora Enso has some 23 000 employees and our sales in 2020 were
EUR 8.6 billion. Stora Enso shares are listed on Nasdaq Helsinki Oy (STEAV,
STERV) and Nasdaq Stockholm AB (STE A, STE R). In addition, the shares are
traded in the USA as ADRs (SEOAY).
storaenso.com/investors (http://www.storaenso.com/investors/)

STORA ENSO OYJ

For further information, please contact:
Pasi Kyckling
SVP Group Treasurer
tel. +358 40 820 6902

Investor enquiries:
Anna-Lena Åström
SVP Investor Relations
tel. +46 70 2107691