Stora Enso Oyj — Major Shareholding Notification 2021

Jul 6, 2021

Stora Enso: Notice of a change in holdings under Chapter 9, Section 10 of the Finnish Securities Markets Act

Stora Enso: Notice of a change in holdings under Chapter 9, Section 10 of the Finnish Securities Markets Act

STORA ENSO OYJ STOCK EXCHANGE RELEASE - Major shareholder announcements 6 July
2021 at 21.00 EEST

Stora Enso Oyj received on 6 July 2021 a notification under the Chapter 9,
Section 5 of the Finnish Securities Markets Act, according to which Wallenberg
Investments AB’s indirect holding in Stora Enso’s shares exceeded the threshold
of 10% on 5 July 2021.

This notification is made as Wallenberg Investments AB has acquired all shares
of FAM AB, becoming an indirect owner of Stora Enso Oyj. FAM AB remains the
direct owner of the shares in Stora Enso Oyj.

Total positions of Wallenberg Investments AB according to the notification:

+----------------+----------+-----------+--------+-------------------------+
| | % of |% of shares|Total of| Total number of shares |
| |shares and|and voting |both in | and voting rights of |
| | voting | rights | % | issuer |
| | rights | through | (A) | |
| | (total | financial | | |
| | of A) |instruments| | |
+----------------+----------+-----------+--------+-------------------------+
| Resulting | 10.2% of| |10.2% of|788,619,987 shares, |
|situation on the| shares, | |shares, |237,487,421 voting rights|
| date on | 27.3%| | 27.3%| |
|which threshold | voting| | voting| |
| was crossed or | rights| | rights| |
| reached | | | | |
+----------------+----------+-----------+--------+-------------------------+

Notified details of the resulting situation on the date on which the threshold
was crossed or reached:

A: Shares and voting rights

+------------+-----------------+---------------------+-----------+-------------
-+
| Class/type |Number of shares |Number of shares and |% of shares| % of shares
|
| of shares |and voting rights| voting rights |and voting | and voting
|
| | | | rights | rights
|
+------------+-----------------+---------------------+-----------+-------------
-+
| ISIN code |Direct (SMA 9:5) |Indirect (SMA 9:6 and|Direct (SMA|Indirect (SMA
|
| (if | | 9:7) | 9:5) | 9:6 and 9:7)
|
| possible) | | | |
|
+------------+-----------------+---------------------+-----------+-------------
-+
| A share | |63,123,386 shares and| | 8.0%
of|
|FI0009007603| | voting rights| |
shares,|
| | | | | 26.6%
of|
| | | | | voting
rights|
+------------+-----------------+---------------------+-----------+-------------
-+
| R share | | 17,000,000 shares,| | 2.2%
of|
|FI0009007611| | 1,700,000 voting| |
shares,|
| | | rights| |0.7% of
voting|
| | | | |
rights|
+------------+-----------------+---------------------+-----------+-------------
-+
| SUBTOTAL A |80,123,386 |10.2% of
|
| |shares, |shares, 27.3%
|
| |64,823,386 voting |of voting
|
| |rights |rights
|
+------------+-----------------+---------------------+-----------+-------------
-+

Full chain of controlled undertakings through which the voting rights and
financial instruments are effectively held starting with the ultimate
controlling natural person or legal entity:

+-----------+-------------+-----------------------------+----------------+
| Name | % of shares |% of shares and voting rights| Total of both |
| | and voting |through financial instruments| |
| | rights | | |
+-----------+-------------+-----------------------------+----------------+
|Wallenberg | 0%| 0%| 0%|
|Investments| | | |
| AB | | | |
+-----------+-------------+-----------------------------+----------------+
| FAM AB | 10.2% of| 0%|10.2% of shares,|
| | shares,| | 27.3% of voting|
| | 27.3% of| | rights|
| |voting rights| | |
+-----------+-------------+-----------------------------+----------------+

For further information, please contact:
Ulla Paajanen
SVP, Investor Relations
tel. +358 40 763 8767
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 sales in over 50
countries. 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:
Ulla Paajanen
SVP, Investor Relations
tel. +358 40 763 8767