Outokumpu Oyj

“Due to the nature of steel production processes, employees can face dangerous working conditions. Outokumpu has invested in high safety standards and employee well-being which represent financial opportunities in enhanced performance and talent attraction.”

Annual report 2025A · The company itself

“Outokumpu’s EVOLVE strategy aims to build a resilient, future-ready workforce capable of meeting operational priorities such as delivery speed, production efficiency, and sustainability targets. These priorities may affect workload and ways of working, and the company addresses such risks through proactive measures that safeguard employee well-being, health, safety, and sustainable work practices.”

Annual report 2025A · The company itself

“(S1-ESRS2-SBM-3-13-(a)-(i)) In July 2025, the company announced a restructuring program affecting selected operations mainly in Europe with the objective to improve long-term competitiveness. In total, the restructuring program was expected to impact approximately 650 full-time positions by the end of 2027, including approximately 450 positions subject to negotiations.”

Annual report 2025A · The company itself

“Most of the impacts related to Outokumpu’s own workforce arise from the nature of Outokumpu’s key activity, stainless steel production. Outokumpu runs industrial operations in which a significant part of its workforce is exposed to hazards such as heat, noise, chemicals, and heavy machinery.”

Annual report 2025A · The company itself

“Outokumpu takes proactive actions regarding its safety management system, including hazard recognition, safety behavior observations and preventive safety actions, to flag potential risks and unsafe acts and behaviors before they lead to an accident. Outokumpu also continuously trains its employees to behave safely, for example through customized trainings.”

Annual report 2025A · The company itself

“The fatal accident involved the loss of an employee at Outokumpu’s manufacturing site in San Luis Potosí, Mexico, during electrical work. A comprehensive investigation was conducted with the involvement of external experts, and corrective measures were implemented across the organization to prevent recurrence.”

Annual report 2025A · The company itself

“Fines, penalties, and loss of business licenses, and related reputational damages from core labour rights violations in value chain (S2-ESRS2-SBM-3-48-(a)) Potential impacts on value chain workers, as identified in ESRS2-IRO-1, are connected to Outokumpu's strategy and business models as raw materials availability is tied to geographical occurrence and sourcing has to be done also from countries with identified human rights risks.”

Annual report 2025A · The company itself

“Heightened human rights risks such as forced or child labour exist in certain regions, such as Northern South America, parts of mid-Africa, and the Far East.”

Annual report 2025A · The company itself

“Failure to require business partners to follow ethical standards leading to human and labor rights breaches can cause reputational damage and thus financial losses to Outokumpu.”

Annual report 2025A · The company itself

“(S1-ESRS2-SBM-3-13-(b)) Types of employees and non-employees The company’s own workforce considered includes both Outokumpu’s own employees and non-employees directly working in Outokumpu’s operations. By definition, non-employees are people who work for Outokumpu but are not on Outokumpu’s payroll, namely selfemployed individuals and agency workers supplied by external staffing agencies.”

Annual report 2025A · The company itself

“(S1-MDR-A-69-(c)) Prior progress 2025, the total recordable incident frequency rate (TRIFR) was 1.8 and declined slightly compared to 2024 with a TRIFR of 1.5.”

Annual report 2025A · The company itself

“Outokumpu’s Human Rights Policy was reviewed in December 2025 to better address material impacts, risks and opportunities related to affected communities, including specific affected communities.”

Annual report 2025A · The company itself

“Outokumpu distinguishes between two types of affected communities: • Local communities directly impacted by Outokumpu’s operational sites, typically located in regions with well-established regulatory frameworks for environmental and human rights protection. • Upstream value chain communities indirectly affected through raw material sourcing, often situated in high-risk countries with less-developed regulatory environments.”

Annual report 2025A · The company itself

“The main principles of the policy outline that sustainability has a central role in Outokumpu’s vision, strategy and planning. The principles include acting safely for the employees and the company’s stakeholders, respecting human rights, and committing to increasing fairness and belonging. The Sustainability Policy includes topics on climate change mitigation, energy efficiency, and renewable energy deployment, and outlines steps to reach carbon neutrality.”

Annual report 2025A · The company itself

“Through its supplier engagement and sustainability requirements Outokumpu is able to mitigate risks related to its upstream value chain, including minimizing negative impacts on workers in its value chain.”

Annual report 2025A · The company itself

“In addition, Outokumpu’s Supplier Code of Conduct also addresses climate change by expecting suppliers to reduce the negative impacts of their operations on the environment, and especially on climate. More information about Outokumpu’s Supplier Code of Conduct can be found in S2 Workers in the value chain chapter.”

Annual report 2025A · The company itself

“Suppliers are expected to cooperate transparently with Outokumpu by documenting compliance, providing requested information, and if deemed necessary by Outokumpu, granting Outokumpu or a third party authorized by Outokumpu access to conduct audits at their facilities. Suppliers must also evaluate and monitor their own supply chains and, upon request, provide evidence of their practices.”

Annual report 2025A · The company itself

“Outokumpu supports professional development and growth by building capabilities across the company, which is expected to meet the business needs and requirements for the future. A total of 68,043 training hours were delivered during 2025 (2024: 70,913), across all of Outokumpu’s locations.”

Annual report 2025A · The company itself

“Outokumpu continuously promotes fairness and belonging by standardized recruitment and promotion practices to mitigate potential biases. In 2025, Outokumpu further advanced pay transparency and pay equity practices as part of its Total Rewards strategy.”

Annual report 2025A · The company itself

“Employees now have clear visibility to their job grade and comparative ratio, enabling a better understanding of how individual pay aligns with the applicable pay scale for their position and location. These tools empower employees to discuss compensation transparently with their leaders and support trust in the fairness of pay governance.”

Annual report 2025A · The company itself

“Accountability in compensation governance was further reinforced in 2025. Hiring managers and HR professionals now have structured access to digital compensation tools and standardized benchmarking that includes both market-aligned pay scales and statistical insights on internal salary consistency.”

Annual report 2025A · The company itself

“Identified transition events in Outokumpu’s climate-related scenarios include: • evolving climate change policies, increasing regulation and reporting requirements; • increased price of CO2 emissions and the related rising electricity price; • increased cost of raw materials and uncertainty about availability of energy and lowemission raw materials at affordable prices; • viability and effectiveness of decarbonization technologies in the coming years; • risk of losing customers and market share; on the other hand, customers switching to low-emission steel could have a positive impact.”

Annual report 2025A · The company itself

“Through EVOLVE, Outokumpu aims to increase its value by driving cost competitiveness and cash generation in sustainable stainless steel, growing profitably in advanced materials and alloys, increasing value from the chrome mine and ferrochrome business by moving up the chromium value ladder, and revolutionizing value creation through innovative materials and proprietary technologies.”

Annual report 2025A · The company itself

“The company remains exposed to risks related to volatile metal prices, especially nickel. Financial derivatives are used to manage the impacts of nickel price changes.”

Annual report 2025A · The company itself

“The key inputs Outokumpu sources from its partners are scrap metal, metals required for stainless steel production, such as nickel and molybdenum, and low-emission energy to run its energy-intensive manufacturing operations.”

Annual report 2025A · The company itself

“Outokumpu identified the following climate transition risks, related to Outokumpu’s business model and strategy: • new regulations and technologies needed for the transition, which could increase production costs, • availability and price of low-emission raw materials and energy, • energy cost constituting a substantial part of the total steel manufacturing costs, and the vulnerability of energy-intensive operations to fluctuations in energy prices.”

Annual report 2025A · The company itself

“The slag contains critical raw materials such as silica and manganese, which are identified as critical raw materials in Annex II of the EU Critical Raw Materials Act.”

Annual report 2025A · The company itself

“The availability of Outokumpu’s raw materials is geographically determined, leading to sourcing from regions where human rights risks have been identified. These risks affect not only workers across the value chain but also local communities.”

Annual report 2025A · The company itself

“The Group’s most significant exposures in metals price risk arise from chromium and nickel, while other alloy metals with metal price risk include for example iron and molybdenum.”

Annual report 2025A · The company itself

“Chromium does not have an established financial derivatives market and, consequently, is not included in the scope of the Treasury policy. Financial derivatives mainly in nickel are used to manage the impacts of metal price changes on the Group’s net result, whereas efficient working capital management helps to reduce cash flow variations caused by metal prices.”

Annual report 2025A · The company itself

“As a low‑emission ferrochrome producer and the owner of the only chrome mine in the EU, Outokumpu is increasing the value of its chrome mine and ferrochrome business by moving up the chromium value ladder and driving new value creation through innovative materials and proprietary technologies to produce low‑CO₂ metals, while repositioning ferrochrome business from an internal supplier to an unrestricted market player. The company aims to establish a platform for premium products, initially focusing on chromium materials, where its own chrome mine offers the ideal launchpad.”

Annual report 2025A · The company itself

“Outokumpu is also exploring new frontiers in innovative materials and metals, with a particular focus on producing low-CO₂ metals. Through targeted investments in smart decarbonization and low-emission solutions, Outokumpu aims to create a lasting competitive advantage and deliver value for all stakeholders.”

Annual report 2025A · The company itself

“Responsible sourcing is a pivotal part of Outokumpu’s sustainability roadmap, and the company is actively partnering with companies in its upstream to secure access to low-emission raw materials. Examples of this are the partnerships with CRONIMET to retain a supply of high-quality scrap metal, with a Canadian company, FPX Nickel, to secure a long-term supply of low-emission nickel metal and with Greenland Resources, to secure access to low-emission molybdenum from Greenland.”

Annual report 2025A · The company itself

“In addition, R&D supported the ongoing proprietary technology development project to produce low-CO₂ materials, such as enriched ferrochrome and chromium metal.”

Annual report 2025A · The company itself

“Outokumpu’s current offering consists of low-emission stainless steel produced mainly from recycled materials and ferrochrome.”

Annual report 2025A · The company itself

“With our new EVOLVE strategy, we focus on maximizing value in sustainable stainless steel while expanding our offering in advanced materials and alloys, ferrochrome and innovative technologies.”

Annual report 2025A · The company itself

“Ferrochrome produces charge grade of ferrochrome and runs the chrome mine in Kemi and ferrochrome smelter in Tornio, Finland.”

Annual report 2025A · The company itself

“Product and material category, Weight (tonnes) or % 2025 2024 Total weight of products and materials 4,467,517 4,564,152 of which weight of secondary or recycled materials 2,275,075 2,275,966 % of secondary or recycled materials of total weight 50.9 49.9 (E5-4-31-(a,c)) Outokumpu uses small amounts of biological materials, they constitute only 0.4% of the Total weight of products and materials. The biological materials used are packaging materials and biocoke, the biocoke is sustainably sourced and its´share of Total weight of products and materials is 0.06%.”

Annual report 2025A · The company itself

“Outokumpu’s business model rests on a strong foundation built around strategic priorities such as circularity, smart decarbonization and secure access to sustainable and cost‑effective raw materials. These priorities have already positioned the company as a sustainability leader in the industry, which is an increasingly important advantage as CBAM and the EU ETS are expected to reshape the competitive landscape and reward early movers in the years ahead.”

Annual report 2025A · The company itself

“Business model and value chain Outokumpu’s business model is based on circularity, and the majority of the company’s raw materials comes from recycled steel.”

Annual report 2025A · The company itself

“The identified impacts, risks and opportunities, particularly those linked to climate change, the circular economy, and biodiversity, influence Outokumpu’s business model by shaping product innovation, operational processes, and the adoption of low-emission technologies. For instance, commitments to reducing greenhouse gas emissions and improving energy efficiency drive investments in low-emission production methods and renewable energy, ensuring alignment with global warming targets aimed at keeping global warming below 1.5°C.”

Annual report 2025A · The company itself

“Outokumpu’s low-carbon footprint and high use of recycled raw materials build resilience against climate-related transition risks and helps take advantage of new business opportunities involving the green transition.”

Annual report 2025A · The company itself

“(E1-ESRS2-SBM-3-AR-8-(b)) Due to its low-carbon footprint and high use of recycled raw materials, the company has built resilience against climate-related transition risks. Outokumpu is further committed to the science-based target by 2030 and to reducing its transition risk by implementing lowcarbon technologies, and increasing the use of clean energy in its product portfolio.”

Annual report 2025A · The company itself

“This also reduces greenhouse gas emissions and mitigates biodiversity loss, which Outokumpu also considers in its decision-making.”

Annual report 2025A · The company itself

“Since businesses rely on natural resources, they must also protect them. Outokumpu contributes to mitigating biodiversity loss by reducing emissions, using over 90% recycled raw materials in its production and turning its side streams into by-products.”

Annual report 2025A · The company itself

“In partnership with its customers and suppliers, Outokumpu has achieved approximately 75% lower carbon footprint compared to the industry average.”

Annual report 2025A · The company itself

“Following the development of biocoke, additional non-fossil reduction opportunities were identified, such as hydrogen and biomethane. As part of these efforts, it was successfully demonstrated how waste streams, including slag and carbon dioxide, can be converted into valuable products such as carbon-negative concrete blocks.”

Annual report 2025A · The company itself

“Outokumpu’s current offering consists of low-emission stainless steel produced mainly from recycled materials and ferrochrome.”

Annual report 2025A · The company itself

“While the company is committed to keeping global warming below 1.5°C, Outokumpu manages climate change by embedding the circular economy into the core of its business by utilizing over 90% recycled steel to reduce dependence on primary raw materials.”

Annual report 2025A · The company itself

“Outokumpu’s steel is 100% recyclable and is manufactured using, on average, 97% recycled content.”

Annual report 2025A · The company itself

“Our business is based on the circular economy: our products are made from more than 90% recycled materials, which we turn into fully recyclable stainless steel with up to 75% lower carbon footprint than the industry average. This steel is utilized in various applications across society, including infrastructure, energy, industrial applications and household appliances.”

Annual report 2025A · The company itself

“These priorities have already positioned the company as a sustainability leader in the industry, which is an increasingly important advantage as CBAM and the EU ETS are expected to reshape the competitive landscape and reward early movers in the years ahead. To ensure CBAM’s full effectiveness and a level playing field, the company continues to urge the EU Commission to expand CBAM to steel-intensive downstream sectors and indirect emissions, and to introduce robust measures that prevent circumvention.”

Annual report 2025A · The company itself

“Starting January 2026, the Carbon Border Adjustment Mechanism (CBAM) aims to ensure that imported carbon-intensive goods face the same carbon costs as those produced within the EU. However, uncertainties remain regarding the effectiveness of these measures in preventing circumvention, ensuring a level playing field in climate action and preventing carbon leakage.”

Annual report 2025A · The company itself

“(ESRS2-SBM-1-40-(g)) The implementation of the Carbon Border Adjustment Mechanism (CBAM) from January 2026 represents a key step toward fair carbon pricing and the development of lead markets for green steel. With its low‑carbon stainless steel and ferrochrome, Outokumpu is well positioned to benefit from CBAM.”

Annual report 2025A · The company itself

“Climate change is a material issue due to the emission and energy-intensive nature of Outokumpu’s operations and upstream activities, such as raw material extraction, processing, and transportation. Regulatory developments and growing demand for lowemission stainless steel present competitive advantages.”

Annual report 2025A · The company itself

“Identified transition events in Outokumpu’s climate-related scenarios include: • evolving climate change policies, increasing regulation and reporting requirements; • increased price of CO2 emissions and the related rising electricity price; • increased cost of raw materials and uncertainty about availability of energy and lowemission raw materials at affordable prices; • viability and effectiveness of decarbonization technologies in the coming years; • risk of losing customers and market share; on the other hand, customers switching to low-emission steel could have a positive impact.”

Annual report 2025A · The company itself

“Financial effects of climate-related transition risks are significant and have been considered for the target period until 2030.”

Annual report 2025A · The company itself

“The Kemi mine has been pursuing carbon neutrality by the end of 2025. The objective remains firmly in place, and the goal is now close to being achieved. The target is that the mine will become the world’s first carbon‑neutral mine, although progress has been delayed by the increase in the mining tax.”

Annual report 2025A · The company itself

“(E1-6-55) Net revenue, € million 2025 2024 Net revenue used to calculate GHG intensity 5,468 5,942 Net revenue (other) — — Total net revenue (in Financial Statements) 5,468 5,942 (E1-6-AR-55) Internal carbon pricing Internal carbon pricing has been used for several years for business case calculations related to decisions on capital expenditure, as well as research and development projects. The carbon price is part of Outokumpu’s guidelines on capital expenditure. In particular, it is applied to the Group-wide decarbonization program when allocating the annual budget to the projects submitted by each facility.”

Annual report 2025A · The company itself

“One of Outokumpu’s EVOLVE strategy’s pillars is sustainability leadership and therefore climate matters play an important part in Outokumpu’s business. Outokumpu’s low carbon footprint stainless steel provides emission reduction possibilities to its customers and improves Outokumpu’s ability to meet climate-related investor and regulatory requirements.”

Annual report 2025A · The company itself

“(ESRS2-SBM-1-42-(a)) Outokumpu's main outputs are stainless steel products that have an approximately 75% lower carbon footprint compared to the industry average. In 2025, Outokumpu delivered roughly 1.8 million tonnes of stainless steel (1.8 million tonnes in 2024), which supported their customers in reducing their supply chain emissions by approximately 12 million tonnes*.”

Annual report 2025A · The company itself

“Demand for Outokumpu’s ferrochrome remained solid, supported by its low emissions and European origin, which continued to be a key differentiator amid geopolitical uncertainty.”

Annual report 2025A · The company itself

“Identified transition events in Outokumpu’s climate-related scenarios include: • evolving climate change policies, increasing regulation and reporting requirements; • increased price of CO2 emissions and the related rising electricity price; • increased cost of raw materials and uncertainty about availability of energy and lowemission raw materials at affordable prices; • viability and effectiveness of decarbonization technologies in the coming years; • risk of losing customers and market share; on the other hand, customers switching to low-emission steel could have a positive impact.”

Annual report 2025A · The company itself

“The Treasury function (“Treasury”) is responsible for managing foreign exchange, metal, interest rate, liquidity and refinancing as well as emission allowance price risk.”

Annual report 2025A · The company itself

“Overall, Outokumpu’s energy spend decreased around 5%–10% compared to last year.”

Annual report 2025A · The company itself

“The key inputs Outokumpu sources from its partners are scrap metal, metals required for stainless steel production, such as nickel and molybdenum, and low-emission energy to run its energy-intensive manufacturing operations.”

Annual report 2025A · The company itself

“While energy cost and availability pose business risks, opportunities exist in enhancing energy efficiency and adopting new energy technologies.”

Annual report 2025A · The company itself

“Cost of sales includes expenses related to materials and supplies, energy, maintenance and freight.”

Annual report 2025A · The company itself

“Outokumpu manages energy price risk centrally and mitigates the risks by guidance from the Energy Procurement policy. Energy price risk is hedged with long-term agreements, fixed price supply contracts, partial ownerships in power utilities and derivatives.”

Annual report 2025A · The company itself

“Outokumpu is further committed to the science-based target by 2030 and to reducing its transition risk by implementing lowcarbon technologies, and increasing the use of clean energy in its product portfolio.”

Annual report 2025A · The company itself

“Most of the impact arises from the nature of Outokumpu’s key activity, stainless steel production, which is energyintensive. Outokumpu has, however, reduced that impact significantly over the years, which now presents a competitive advantage by being able to provide low-carbon footprint stainless steel. Outokumpu identified the following climate transition risks, related to Outokumpu’s business model and strategy: • new regulations and technologies needed for the transition, which could increase production costs, • availability and price of low-emission raw materials and energy, • energy cost constituting a substantial part of the total steel manufacturing costs, and the vulnerability of energy-intensive operations to fluctuations in energy prices.”

Annual report 2025A · The company itself

“The alloy surcharge clause as well as daily fixed pricing of stainless steel reduce the risk arising from the time difference between raw material purchase and product delivery. However, the risk is still significant because the delivery cycle in production is longer than the alloy surcharge mechanism expects and the daily fixed pricing can also deviate from this cycle depending on the timing of the delivery.”

Annual report 2025A · The company itself

“The Treasury function (“Treasury”) is responsible for managing foreign exchange, metal, interest rate, liquidity and refinancing as well as emission allowance price risk.”

Annual report 2025A · The company itself

“During the year the volatility for nickel price has been in the range of 11-23%.”

Annual report 2025A · The company itself

“The company remains exposed to risks related to volatile metal prices, especially nickel. Financial derivatives are used to manage the impacts of nickel price changes.”

Annual report 2025A · The company itself

“Outokumpu is exposed to metal price risk for example through the purchase of raw materials as well as sale of stainless steel products where the price of alloy metals is based on market prices.”

Annual report 2025A · The company itself

“(E5-5-MDR-M-77-(b)) Products and materials Outokumpu’s main products are semi-finished products of stainless steel and ferrochrome. While the stainless steel semi-finished products (mainly coils and plates) are used by Outokumpu’s customers to manufacture stainless steel products, ferrochrome is used as an ingredient in Outokumpu steel and other producers’ steel.”

Annual report 2025A · The company itself

“Group adjusted EBITDA of EUR 167 million ended slightly below the previous year’s level of EUR 177 million driven by developments in business area Europe. In addition to challenging market conditions, fourth‑quarter profitability in business area Europe was further affected by temporary challenges related to the supply chain planning solution in the Enterprise Resource Planning (ERP) rollout, which amplified the decline in customer deliveries and weighed on results. At the same time, business area Americas achieved a significant improvement in adjusted EBITDA, driven by higher volumes and lower costs, partially supported by short‑term cost‑saving measures.”

Annual report 2025A · The company itself

“In 2025, apparent consumption in EMEA showed an increase of 2.6% compared to 2024 (Source: CRU Stainless Steel Flat Products Market Outlook November 2025).”

Annual report 2025A · The company itself

“Opportunities include higher productivity, stronger employee engagement, innovation, and retention through well-being, safety, belonging, and continuous learning initiatives.(S1-ESRS2-SBM-3-14-(b-d)) Due to the energy-intensive nature of its operations, Outokumpu also considers the effects of its climate transition plan. Mitigating climate change creates opportunities to engage employees in the decarbonization journey, and no material negative impacts on workers are expected, provided that climate targets are achieved.”

Annual report 2025A · The company itself

“Capital structure and financial risk management Outokumpu maintained a strong financial position in 2025. Despite weaker profitability and cashflow, net debt increased only moderately and liquidity remained strong.”

Annual report 2025A · The company itself

“Building on this foundation, a key milestone in the company’s strategic journey during 2025 was the launch of the EVOLVE growth strategy for 2026–2030, designed to strengthen resilience to market cycles by improving cost competitiveness, building a stronger product portfolio, and differentiating into areas that support higher growth and profitability.”

Annual report 2025A · The company itself

“Identified transition events in Outokumpu’s climate-related scenarios include: • evolving climate change policies, increasing regulation and reporting requirements; • increased price of CO2 emissions and the related rising electricity price; • increased cost of raw materials and uncertainty about availability of energy and lowemission raw materials at affordable prices; • viability and effectiveness of decarbonization technologies in the coming years; • risk of losing customers and market share; on the other hand, customers switching to low-emission steel could have a positive impact.”

Annual report 2025A · The company itself

“Outokumpu’s current strategy demonstrates resilience to biodiversity-related risks through strong climate and circularity targets and site-level action plans.”

Annual report 2025A · The company itself

“In line with its business strategy, Outokumpu aims to reduce its carbon emission intensity by 42% by the end of 2030 compared to the 2016 level, which is Outokumpu’s Science-Based Target initiative (SBTi) 1.5-degree climate target.”

Annual report 2025A · The company itself

“In ferrochrome production the main inputs are chromite from the company’s Kemi mine and coke, which is defined as critical raw material according to EU Regulation.”

Annual report 2025A · The company itself

“The investments related to biocoke support reducing a significant amount of Outokumpu’s direct emissions, but this capital expenditure is not included in the EU eligible and aligned taxonomy KPI since ferrochrome manufacturing is not taxonomy eligible.”

Annual report 2025A · The company itself

“Identified transition events in Outokumpu’s climate-related scenarios include: • evolving climate change policies, increasing regulation and reporting requirements; • increased price of CO2 emissions and the related rising electricity price; • increased cost of raw materials and uncertainty about availability of energy and lowemission raw materials at affordable prices; • viability and effectiveness of decarbonization technologies in the coming years; • risk of losing customers and market share; on the other hand, customers switching to low-emission steel could have a positive impact.”

Annual report 2025A · The company itself

“In the new growth-focused strategy decarbonization is a key lever when Outokumpu aims to evolve from a trusted stainless steel producer into a pioneering force in low-emission metals and technologies.”

Annual report 2025A · The company itself

“Outokumpu is also a member of the ResponsibleSteel initiative and committed to supporting its vision and mission. Outokumpu also has ResponsibleSteel certification for all its manufacturing sites in Europe, and all Outokumpu production sites are ISO 14001- certified.”

Annual report 2025A · The company itself

“Most of the impact arises from the nature of Outokumpu’s key activity, stainless steel production, which is energyintensive. Outokumpu has, however, reduced that impact significantly over the years, which now presents a competitive advantage by being able to provide low-carbon footprint stainless steel. Outokumpu identified the following climate transition risks, related to Outokumpu’s business model and strategy: • new regulations and technologies needed for the transition, which could increase production costs, • availability and price of low-emission raw materials and energy, • energy cost constituting a substantial part of the total steel manufacturing costs, and the vulnerability of energy-intensive operations to fluctuations in energy prices.”

Annual report 2025A · The company itself

“Technology deployment and energy consumption have been taken into account in the decarbonization plan, which is aligned with the 1.5 degree science-based climate target and outlines mitigation actions and related costs and opportunities (E1-ESRS2-SBM-3-19-(b)), (E1-ESRS2-SBM-3-AR-7-(a)) In the short-term, Outokumpu aims to continue to strengthen its core by delivering lowemission stainless steel as a solution for customers to reduce their climate impact.”

Annual report 2025A · The company itself

“This foundational business ensures competitiveness and raw material security while generating the financial strength needed to fund transformation initiatives.”

Annual report 2025A · The company itself

“In the medium-term the company further aims to build resilience in its strategy through its science-based climate targets and expansion into lower-emission advanced materials and alloys. In the long term, the EVOLVE strategy targets the transformation of Outokumpu into a pioneering force in materials and technology solutions that power tomorrow by innovating low-CO₂ metals and enriched ferrochrome.”

Annual report 2025A · The company itself

“(E5-5-MDR-M-77-(b)) Products and materials Outokumpu’s main products are semi-finished products of stainless steel and ferrochrome. While the stainless steel semi-finished products (mainly coils and plates) are used by Outokumpu’s customers to manufacture stainless steel products, ferrochrome is used as an ingredient in Outokumpu steel and other producers’ steel.”

Annual report 2025A · The company itself

“Ferrochrome is mainly used as a raw material in stainless steel, which is why it is impossible to estimate its durability. The iron and chrome stay in in the stainless steel product until it is discarded and recycled into new stainless steel.”

Annual report 2025A · The company itself

“The stainless steel features a stable, self-healing oxide layer that protects against rust and corrosion, thereby enhancing durability and eliminating the need for painting or other surface treatments, resulting in low maintenance.”

Annual report 2025A · The company itself

“Outokumpu’s main product, stainless steel, had during 2025 an average recycled content of 96,7% (2024: 95%) (calculated according to ISO 14021).”

Annual report 2025A · The company itself

“Community development around own sites based on taxes paid, other funding and support initiatives (incl. sponsorships, school collaboration) Land related impacts Negative impact Potential Environmental degradation (water, air, soil, deforestation) of communities in supply chain Negative impact Potential Environmental degradation (water, air, soil, deforestation) around own sites Rights of indigenous people Negative impact Potential Violation of rights of indigenous people in the supply chain including land, forests and waters (S3-ESRS2-SBM-3-48-(a)) Outokumpu’s impacts on affected communities primarily stem from the nature of its core operations, stainless steel production and mining.”

Annual report 2025A · The company itself

“In line with these commitments, Outokumpu also creates positive impact beyond its own operations by supplying durable, sustainable stainless steel for water infrastructure, such as desalination plants, supporting long-lasting, resource-efficient solutions for delivering clean water.”

Annual report 2025A · The company itself

“The stainless steel features a stable, self-healing oxide layer that protects against rust and corrosion, thereby enhancing durability and eliminating the need for painting or other surface treatments, resulting in low maintenance.”

Annual report 2025A · The company itself

“The service life of the steel depends on the application rather than on the steel itself. It can vary from approximately 6 months in mobile phones to 60 years in buildings or 120 years in bridges.”

Annual report 2025A · The company itself

“Its largest customer segments are automotive and transport, consumer appliances, oil and gas, chemical and petrochemical industries, food and beverage processing, as well as building and construction industry.”

Annual report 2025A · The company itself

“Through EVOLVE, Outokumpu aims to increase its value by driving cost competitiveness and cash generation in sustainable stainless steel, growing profitably in advanced materials and alloys, increasing value from the chrome mine and ferrochrome business by moving up the chromium value ladder, and revolutionizing value creation through innovative materials and proprietary technologies.”

Annual report 2025A · The company itself

“In business area Europe, key contributors included the closure and transfer of the precision strip operations in Germany from Dahlerbrück to Dillenburg, raw material efficiency and cost management in the Avesta melt shop in Sweden, and further optimization of scrap sorting and utilization between Krefeld in Germany and Tornio in Finland. These were complemented by several energy-efficiency projects, and improved prematerial sourcing for quarto plate.”

Annual report 2025A · The company itself

“Capital expenditure is therefore focused on maintenance, mandatory investments, and targeted investments into competitiveness and smart decarbonization. These investments are supported by a continuous focus on cost competitiveness, leveraging sustainability leadership, and securing the supply of critical raw materials, with a targeted minimum internal rate of return of 15%.”

Annual report 2025A · The company itself

“Outokumpu has also started several initiatives to accelerate the improvement in energy efficiency.”

Annual report 2025A · The company itself

“The global advanced materials and alloys market shows strong growth potential. Outokumpu has started a feasibility study to assess a potential investment in its melt shop in Avesta, Sweden, to enable further expansion into high-nickel alloys, while also exploring selective inorganic opportunities within this area.”

Annual report 2025A · The company itself

“In 2025, Outokumpu continued to test state-of-the-art technology for safety and utilized AIdriven robots in Finland, Germany, and Sweden to automate some parts of the safety inspection work and reduce the exposure of employees to hazardous areas. The work on utilizing AI will continue in 2026 in Finland and Germany.”

Annual report 2025A · The company itself

“With our new EVOLVE strategy, we focus on maximizing value in sustainable stainless steel while expanding our offering in advanced materials and alloys, ferrochrome and innovative technologies.”

Annual report 2025A · The company itself

“The main customer segments are distributors (48% of sales), metal processing and tubes (16%), automotive (10%), heavy industries (1%), and appliances (8%).”

Annual report 2025A · The company itself

“Sustainable stainless steel is used in numerous different industries, for example in architecture and construction, transportation, automotive and home appliances.”

Annual report 2025A · The company itself

“Americas produces standard austenitic and ferritic grades as well as tailored products. Its largest customer segments are automotive and transport, consumer appliances, oil and gas, chemical and petrochemical industries, food and beverage processing, as well as building and construction industry.”

Annual report 2025A · The company itself

“(E5-5-36-(a,c)) Composition of waste and waste streams The main waste streams come from Outokumpu’s ferrochrome operations, mining waste and waste from ferrochrome production, and from its stainless steel production sites. These include tailings sand, steelmaking dust, slag, sludges, oily waste, and scales.”

Annual report 2025A · The company itself

“Community development around own sites based on taxes paid, other funding and support initiatives (incl. sponsorships, school collaboration) Land related impacts Negative impact Potential Environmental degradation (water, air, soil, deforestation) of communities in supply chain Negative impact Potential Environmental degradation (water, air, soil, deforestation) around own sites Rights of indigenous people Negative impact Potential Violation of rights of indigenous people in the supply chain including land, forests and waters (S3-ESRS2-SBM-3-48-(a)) Outokumpu’s impacts on affected communities primarily stem from the nature of its core operations, stainless steel production and mining.”

Annual report 2025A · The company itself

“We operate production sites in Finland, Germany, Sweden, the Netherlands, the United States, and Mexico whilst our mine in Kemi, Finland is the only chrome mine within the European Union. In 2025, Outokumpu’s revenue was EUR 5.5 billion.”

Annual report 2025A · The company itself

“Cyber security threats and dependencies on critical suppliers and machinery expose Outokumpu to the risk of operational disruption and additional costs.”

Annual report 2025A · The company itself

“In summary, key changes to the previous double materiality assessment are as follows: • Identification of the material positive impacts Outokumpu has in managing its relationships with suppliers resulting in materiality of G1-2 Management of relationships with suppliers.”

Annual report 2025A · The company itself

“(G1-MDR-T-80-(j)) Approach to relationships with suppliers Outokumpu's supplier relationships management pursues fostering a resilient and ethical supply chain, balancing sustainability, quality, and reliability as well as cost-efficiency. By promoting sustainable practices, Outokumpu aims to create a positive impact throughout the supply chain, while creating the best value for its operations.”

Annual report 2025A · The company itself

“A significant amount of water is used in Outokumpu’s production processes, for example for cooling.”

Annual report 2025A · The company itself

“Outokumpu uses mainly surface water from rivers and the sea, including rainwater.”

Annual report 2025A · The company itself

“Outokumpu’s production facilities are situated close to water sources and a major share of Outokumpu’s water use is recycled.”

Annual report 2025A · The company itself

“Sustainable stainless steel is used in numerous different industries, for example in architecture and construction, transportation, automotive and home appliances.”

Annual report 2025A · The company itself

“Its largest customer segments are automotive and transport, consumer appliances, oil and gas, chemical and petrochemical industries, food and beverage processing, as well as building and construction industry.”

Annual report 2025A · The company itself

“Other critical raw materials in the steelmaking process are fluorspar and silica. Slag formers, such as lime and ferrosilica, which are used in the process, result in slag byproducts.”

Annual report 2025A · The company itself

“Slag products are mineral by-products from steel that are mainly used to replace primary raw materials such as sand and gravel.”

Annual report 2025A · The company itself

“The main short-term risks relate to the development in trade policies and increased geopolitical tensions, which could disrupt global trade, increase inflation, and slow economic growth, ultimately leading to possible weakening of demand and pressure on stainless steel prices, even with their broad range of end uses.”

Annual report 2025A · The company itself

“(E1-2-25) Outokumpu’s Sustainability Policy states that Outokumpu helps its customer to tackle climate change through lower-emission solutions, creating value for the company, society, and the environment.”

Annual report 2025A · The company itself

“In 2025, Outokumpu has not taken any measures to mitigate impacts on workers that arise from the transition to a greener economy, since the impact from this transition is positive for Outokumpu’s workforce. The company continuously trains and develops its workforce on green technologies when moving forward in its climate strategy.”

Annual report 2025A · The company itself

“Outokumpu is also taking steps to replace its fossil fuels with alternative solutions such as biofuels and electrification.”

Annual report 2025A · The company itself

“To support the development, Outokumpu is investing approximately USD 45 million in a pilot plant in New Hampshire, U.S., to pilot and advance proprietary technology for producing critical low‑CO₂ materials, such as chromium metal and enriched ferrochrome. The pilot plant is planned to be operational in the first half of 2027.”

Annual report 2025A · The company itself

“Under Outokumpu’s growth-focused strategy, EVOLVE, R&D activities increasingly focused on progressive and exploratory activities to drive growth in new and modified grades, including applications such as the production and use of green hydrogen.”

Annual report 2025A · The company itself

“The main customer segments are distributors (48% of sales), metal processing and tubes (16%), automotive (10%), heavy industries (1%), and appliances (8%).”

Annual report 2025A · The company itself

“(E5-5-MDR-M-77-(b)) Products and materials Outokumpu’s main products are semi-finished products of stainless steel and ferrochrome. While the stainless steel semi-finished products (mainly coils and plates) are used by Outokumpu’s customers to manufacture stainless steel products, ferrochrome is used as an ingredient in Outokumpu steel and other producers’ steel.”

Annual report 2025A · The company itself

“In advanced materials and alloys, Outokumpu provides industrial tailored stainless and nickel-based alloy solutions for demanding environments in the process industry, oil and gas, and electric vehicles, for example.”

Annual report 2025A · The company itself

“Its largest customer segments are automotive and transport, consumer appliances, oil and gas, chemical and petrochemical industries, food and beverage processing, as well as building and construction industry.”

Annual report 2025A · The company itself

“Its largest customer segments are automotive and transport, consumer appliances, oil and gas, chemical and petrochemical industries, food and beverage processing, as well as building and construction industry.”

Annual report 2025A · The company itself

“Outokumpu also has preventive measures in place to minimize pollution at its production facilities.”

Annual report 2025A · The company itself

“In advanced materials and alloys, Outokumpu provides industrial tailored stainless and nickel-based alloy solutions for demanding environments in the process industry, oil and gas, and electric vehicles, for example.”

Annual report 2025A · The company itself

“Dividend policy and distributable funds According to its dividend policy, Outokumpu aims to distribute a stable and growing dividend over time, while maintaining the flexibility to invest in transformative initiatives that yield a minimum internal rate of return (IRR) of 20% and accounting for market cyclicality.”

Annual report 2025A · The company itself

“Outokumpu’s hybrid work policy for office employees in Europe promotes flexibility, wellbeing, and compliance in modern working practices. While the company’s offices remain the primary workplace, employees may work up to 50% of their working days remotely within their country.”

Annual report 2025A · The company itself

“The service life of the steel depends on the application rather than on the steel itself. It can vary from approximately 6 months in mobile phones to 60 years in buildings or 120 years in bridges.”

Annual report 2025A · The company itself

“Our business is based on the circular economy: our products are made from more than 90% recycled materials, which we turn into fully recyclable stainless steel with up to 75% lower carbon footprint than the industry average. This steel is utilized in various applications across society, including infrastructure, energy, industrial applications and household appliances.”

Annual report 2025A · The company itself

“The main customer segments are distributors (48% of sales), metal processing and tubes (16%), automotive (10%), heavy industries (1%), and appliances (8%).”

Annual report 2025A · The company itself

“(E1-2-25-(c)) Renewable energy deployment As part of its Sustainability Policy, Outokumpu minimizes the negative impacts of its operation on the environment by increasing the share of low-carbon electricity, which is one of the key elements in Outokumpu’s transition plan. The low carbon electricity includes both renewable and nuclear energy.”

Annual report 2025A · The company itself

“(E1-2-25-(c)) Renewable energy deployment As part of its Sustainability Policy, Outokumpu minimizes the negative impacts of its operation on the environment by increasing the share of low-carbon electricity, which is one of the key elements in Outokumpu’s transition plan. The low carbon electricity includes both renewable and nuclear energy.”

Annual report 2025A · The company itself

“In response to the weak stainless steel demand and sustained low‑priced Asian imports, the company initiated a EUR 100 million restructuring program, to be completed by the end of 2027, focusing on business area Europe and Group functions.”

Annual report 2025A · The company itself

“In response to weak stainless steel demand and intense competition from low‑priced imports into the European market, conditions that have resulted in unsustainably weak profitability in business area Europe, Outokumpu has initiated a restructuring program aimed at achieving EUR 100 million in annual cost savings by the end of 2027. The program focuses primarily on business area Europe and global Group functions, with savings generated through fixed‑cost reductions, including workforce reductions, efficiency improvements across the organization, and optimization of the production footprint.”

Annual report 2025A · The company itself

“EU cold-rolled imports increased to a level of 25% from the previous year's level of 22% (Source: EUROFER, January 2026).”

Annual report 2025A · The company itself

“The U.S. administration’s shifts in trade policies has created uncertainties in global trade flows and imposed duties of 50% on steel imports in 2025. As a result, high volumes of low-priced Asian imports risk being diverted into Europe, continuing to burden the European stainless steel market.”

Annual report 2025A · The company itself

“Global economic activity, shifts in trade and economic policies, and geopolitical tensions expose Outokumpu to risks and uncertainties in its operating environment. These factors could have an adverse impact on the company's operations, financial performance, and overall financial position. The main short-term risks relate to the development in trade policies and increased geopolitical tensions, which could disrupt global trade, increase inflation, and slow economic growth, ultimately leading to possible weakening of demand and pressure on stainless steel prices, even with their broad range of end uses.”

Annual report 2025A · The company itself

“Demand for Outokumpu’s ferrochrome remained solid, supported by its low emissions and European origin, which continued to be a key differentiator amid geopolitical uncertainty.”

Annual report 2025A · The company itself

“Global economic activity, shifts in trade and economic policies, and geopolitical tensions expose Outokumpu to risks and uncertainties in its operating environment. These factors could have an adverse impact on the company's operations, financial performance, and overall financial position. The main short-term risks relate to the development in trade policies and increased geopolitical tensions, which could disrupt global trade, increase inflation, and slow economic growth, ultimately leading to possible weakening of demand and pressure on stainless steel prices, even with their broad range of end uses.”

Annual report 2025A · The company itself

“Global economic activity, shifts in trade and economic policies, and geopolitical tensions expose Outokumpu to risks and uncertainties in its operating environment. These factors could have an adverse impact on the company's operations, financial performance, and overall financial position. The main short-term risks relate to the development in trade policies and increased geopolitical tensions, which could disrupt global trade, increase inflation, and slow economic growth, ultimately leading to possible weakening of demand and pressure on stainless steel prices, even with their broad range of end uses.”

Annual report 2025A · The company itself

“Average selling prices for stainless steel in USD decreased both in the U.S. and Mexico, though this was offset by an improved product mix.”

Annual report 2025A · The company itself

“Ferrochrome sales price was lower, mainly driven by unfavorable EUR/USD foreign exchange rate.”

Annual report 2025A · The company itself

“The Treasury function (“Treasury”) is responsible for managing foreign exchange, metal, interest rate, liquidity and refinancing as well as emission allowance price risk.”

Annual report 2025A · The company itself

“Since Outokumpu operates in both the US and Europe, imposed tariffs may support US operations while potentially negatively impacting European operations if effective safeguards are not implemented.”

Annual report 2025A · The company itself

“Selling prices in the U.S. recovered in the second half of the year.”

Annual report 2025A · The company itself

“(ESRS2-SBM-1-40-(a)-(i)) Outokumpu’s main markets are Europe (65% of the Group’s sales in 2025) and the Americas (31% ).”

Annual report 2025A · The company itself

“The Americas business area, including sites in the US and Mexico, currently does not have a water action plan, although the San Luis Potosí site has specific water reduction actions, as mentioned above.”

Annual report 2025A · The company itself

“The four biggest countries represent 81% of the entire Outokumpu Group. At year-end 2025, those four countries with the most employees were, in descending order, Finland, Germany, Sweden and the US.”

Annual report 2025A · The company itself

“In 2025, Outokumpu’s revenue was EUR 5.5 billion.”

Annual report 2025A · The company itself

“The business area has production units in the US and Mexico.”

Annual report 2025A · The company itself

“Average selling prices for stainless steel decreased in both business areas, with the decline particularly pronounced in business area Europe.”

Annual report 2025A · The company itself

“Profitability was mainly supported by lower raw material costs and short-term cost-saving measures.”

Annual report 2025A · The company itself

“The main short-term risks relate to the development in trade policies and increased geopolitical tensions, which could disrupt global trade, increase inflation, and slow economic growth, ultimately leading to possible weakening of demand and pressure on stainless steel prices, even with their broad range of end uses. The U.S. administration’s shifts in trade policies has created uncertainties in global trade flows and imposed duties of 50% on steel imports in 2025.”

Annual report 2025A · The company itself

“Stainless steel production and its supply chain require significant amounts of energy and raw materials, contributing to greenhouse gas emissions and impacting negatively on climate change. Energy and raw material price volatility and high renewable fuel costs pose financial risks for the company’s operations.”

Annual report 2025A · The company itself

“According to CRU’s latest estimates, global apparent consumption of stainless steel flat products is expected to have increased by 3.8% in 2025 compared to 2024. EMEA and APAC are to increase by 2.6% and 3.7%, respectively, while the Americas is expected to show the biggest growth at 6.9%. (Source: CRU Stainless Steel Flat Products Market Outlook November 2025) Adjusted EBITDA, € million Net debt, € million *Including discontinued operations Results Adjusted EBITDA in January–December 2025 was EUR 167 million (EUR 177 million).”

Annual report 2025A · The company itself

“Ferrochrome deliveries, 1,000 tonnes Sales -1 — EBITDA 10.0 5.5 In 2025, business area Ferrochrome’s adjusted EBITDA increased to EUR 138 million (EUR 106 million). Ferrochrome deliveries increased by 6% compared to the previous year, driven by higher external demand, partly offset by weaker internal deliveries.”

Annual report 2025A · The company itself

“Metal market prices are based on prices determined in regulated markets, such as the London Metal Exchange (LME).”

Annual report 2025A · The company itself

“Opportunities include higher productivity, stronger employee engagement, innovation, and retention through well-being, safety, belonging, and continuous learning initiatives.(S1-ESRS2-SBM-3-14-(b-d)) Due to the energy-intensive nature of its operations, Outokumpu also considers the effects of its climate transition plan. Mitigating climate change creates opportunities to engage employees in the decarbonization journey, and no material negative impacts on workers are expected, provided that climate targets are achieved.”

Annual report 2025A · The company itself

“Outokumpu has assessed physical climate risks and mitigation measures for all sites and included them in its general risk assessment. Risk evaluations show that climate-related physical risks do not currently have material effects to the Group's capital or operating expenditure.”

Annual report 2025A · The company itself

“2.4 Other operating income and expenses € million 2025 2024 Exchange gains and losses from foreign exchange derivatives — Market price gains and losses from commodity derivatives Market price gains and losses from derivative financial instruments Sale of services and rental income Gains on sale of non-current assets Gains from disposal of subsidiaries and businesses — Insurance compensation Other income items Total € million 2025 2024 Exchange gains and losses from foreign exchange derivatives -3 -6 Market price gains and losses from commodity derivatives -1 Market price gains and losses from derivative financial instruments -3 -7 Impairments and impairment reversals in non-current assets -7 businesses — -3 Loss on sale of non-current assets -3 -4 Other expense items -9 Total -9 -15 In year 2025, gains on sale of non-current assets include the sale of a land area in Pori, Finland and the sale of emission allowances.”

Annual report 2025A · The company itself

“Cyber security threats and dependencies on critical suppliers and machinery expose Outokumpu to the risk of operational disruption and additional costs.”

Annual report 2025A · The company itself

“In November 2025, credit rating agency Moody’s affirmed Outokumpu’s corporate family rating at Ba2 and changed the outlook from stable to negative.”

Annual report 2025A · The company itself

“The Treasury function (“Treasury”) is responsible for managing foreign exchange, metal, interest rate, liquidity and refinancing as well as emission allowance price risk.”

Annual report 2025A · The company itself

“Despite weaker profitability and cashflow, net debt increased only moderately and liquidity remained strong.”

Annual report 2025A · The company itself

“Personnel negotiations in Finland, Sweden, and Germany were completed in the fourth quarter of 2025, processes in other countries continue. In total, the restructuring is expected to impact approximately 650 full‑time positions by the end of 2027.”

Annual report 2025A · The company itself

“Outokumpu manages energy price risk centrally and mitigates the risks by guidance from the Energy Procurement policy. Energy price risk is hedged with long-term agreements, fixed price supply contracts, partial ownerships in power utilities and derivatives.”

Annual report 2025A · The company itself

“The main packaging used for stainless steel semi-finished products consist of different plastics and wooden pallets that can be reused through pallet exchange programs. The plastics contain, on average, 66% recycled content and are all recyclable.”

Annual report 2025A · The company itself

“Cost of sales includes expenses related to materials and supplies, energy, maintenance and freight.”

Annual report 2025A · The company itself

“External sales by business area, 5,468 € million Capital expenditure by business area, 145 € million Europe 2025 2024 1,148 1,222 Sales 3,600 4,102 -46 -65 -3 EBITDA -111 1,849 1,959 -8.5 -3.0 In 2025, business area Europe’s adjusted EBITDA was EUR -46 million (EUR 58 million). Stainless steel deliveries decreased by 6% compared to the previous year, mainly impacted by market weakness, while average stainless steel selling prices were significantly lower. This resulted in sales of EUR 3,600 million (EUR 4,102 million).”

Annual report 2025A · The company itself

“(ESRS2-SBM-1-40-(a)-(i)) Outokumpu’s main markets are Europe (65% of the Group’s sales in 2025) and the Americas (31% ).”

Annual report 2025A · The company itself

“Future actions from the plan apply to Business Area Europe (Tornio, Avesta, Nyby, Degerfors, Krefeld, Dillenburg sites).”

Annual report 2025A · The company itself

“In 2025, Outokumpu’s revenue was EUR 5.5 billion.”

Annual report 2025A · The company itself

“The business area has an extensive service center and sales network across Europe, Middle East, Africa and APAC region.”

Annual report 2025A · The company itself

“External sales by geographical destination € million Finland Germany Italy The UK Poland Other Europe North America APAC region Other countries Group 2025 Operating segment Europe 1,105 3,557 Americas — — — — — 1,668 1,675 Ferrochrome — — — 1,201 1,807 5,468 2024 Operating segment Europe 1,124 1,156 4,044 Americas — — — — — 1,691 1,707 Ferrochrome — — — — — 1,148 1,244 1,805 5,942 Outokumpu generates revenue mainly from sales of stainless steel and ferrochrome.”

Annual report 2025A · The company itself

“The four biggest countries represent 81% of the entire Outokumpu Group. At year-end 2025, those four countries with the most employees were, in descending order, Finland, Germany, Sweden and the US.”

Annual report 2025A · The company itself

“Type of representation in main countries of operation Country Coverage Workers’ representation and collective bargaining Finland U All employees are covered by employee representatives and collective agreements: Teollisuusliitto (blue-collar employees), Pro (salaried employees), YTN (senior salaried employees).”

Annual report 2025A · The company itself

“We operate production sites in Finland, Germany, Sweden, the Netherlands, the United States, and Mexico whilst our mine in Kemi, Finland is the only chrome mine within the European Union.”

Annual report 2025A · The company itself

“External sales by geographical destination € million Finland Germany Italy The UK Poland Other Europe North America APAC region Other countries Group 2025 Operating segment Europe 1,105 3,557 Americas — — — — — 1,668 1,675 Ferrochrome — — — 1,201 1,807 5,468 2024 Operating segment Europe 1,124 1,156 4,044 Americas — — — — — 1,691 1,707 Ferrochrome — — — — — 1,148 1,244 1,805 5,942 Outokumpu generates revenue mainly from sales of stainless steel and ferrochrome.”

Annual report 2025A · The company itself

“The four biggest countries represent 81% of the entire Outokumpu Group. At year-end 2025, those four countries with the most employees were, in descending order, Finland, Germany, Sweden and the US.”

Annual report 2025A · The company itself

“Type of representation in main countries of operation Country Coverage Workers’ representation and collective bargaining Finland U All employees are covered by employee representatives and collective agreements: Teollisuusliitto (blue-collar employees), Pro (salaried employees), YTN (senior salaried employees).”

Annual report 2025A · The company itself

“The production facilities are located in Finland, Germany, Sweden and Netherlands.”

Annual report 2025A · The company itself

“Ferrochrome produces charge grade of ferrochrome and runs the chrome mine in Kemi and ferrochrome smelter in Tornio, Finland.”

Annual report 2025A · The company itself

“The business area has an extensive service center and sales network across Europe, Middle East, Africa and APAC region.”

Annual report 2025A · The company itself

“External sales by geographical destination € million Finland Germany Italy The UK Poland Other Europe North America APAC region Other countries Group 2025 Operating segment Europe 1,105 3,557 Americas — — — — — 1,668 1,675 Ferrochrome — — — 1,201 1,807 5,468 2024 Operating segment Europe 1,124 1,156 4,044 Americas — — — — — 1,691 1,707 Ferrochrome — — — — — 1,148 1,244 1,805 5,942 Outokumpu generates revenue mainly from sales of stainless steel and ferrochrome.”

Annual report 2025A · The company itself

“The biological materials used are packaging materials and biocoke, the biocoke is sustainably sourced and its´share of Total weight of products and materials is 0.06%.”

Annual report 2025A · The company itself