Commentary & Deal Flow

Stora Enso Oyj, a leading global provider of renewable solutions in packaging, biomaterials and wooden construction, (ticker: "STERV", country: FI) rated Baa3/BBB- (Moody's/Fitch), has mandated J.P. Morgan and SEB as Joint Structuring Agents, and BofA Securities, Deutsche Bank, J.P. Morgan and SEB as Joint Bookrunners, to arrange a series of fixed income investor calls to be scheduled on 8th and 9th of April 2026. An electronic investor presentation will be made available. Deutsche Bank will be coordinating logistics.

An expected €1.0bn, Reg S, inaugural hybrid offering split across PerpNC3 and PerpNC5.5 tranches will follow, subject to market conditions. The capital securities are expected to be rated Ba2 by Moody’s. Net proceeds of the transaction will be used for general corporate purposes including refinancing of existing debt and upcoming maturities.

Relevant stabilisation including FCA/ICMA will apply. Manufacturer target market (MIFID II product governance) is eligible counterparties and professional clients only (all distribution channels). No EU PRIIPs or UK PRIIPs key information document (KID) has been prepared as not available to retail in EEA and the UK or elsewhere.

Company Representatives:

• Niclas Rosenlew – CFO
• Kaarlo Höysniemi – Head of Group Treasury
• Jutta Mikkola – Head of Investor Relations

Call Schedule:

• Wednesday 8th April 2026
• • Call #1: 11.00 UKT / 12.00 CEST
  • Call #2: 12.00 UKT / 13.00 CEST
  • Call #3: 13.00 UKT / 14.00 CEST
• Thursday 9th April 2026
• • 07.00 UKT / 08.00 CEST / 09.00 EET: Group Investor Breakfast at SEB Offices, Eteläesplanadi 18, Helsinki
  • Call #4: 08.00 UKT / 09.00 CEST
  • Call #5: 09.00 UKT / 10.00 CEST
  • Call #6: 10.00 UKT / 11.00 CEST
  • Call #7: 11.00 UKT / 12.00 CEST
  • Call #8: 12.00 UKT / 13.00 CEST
  • Call #9: 14.00 UKT / 15.00 CEST
  • Call #10: 15.00 UKT / 16.00 CEST

DealRoadshow Information:

• Visit www.netroadshow.com and enter the deal entry code: STORA26
• Direct Link: www.netroadshow.com/nrs/home/#!/?show=676b9623