1. November 23, 2011 1 The implementation of the technological and product innovation in paper industry

2. 2 Stora Enso in brief Stora Enso is the global rethinker of the packaging, paper and wood products industry. We always rethink the old and expand to the new to offer our customers innovative solutions based on renewable materials. 2 Approximately 26 000 employees in more than 35 countries worldwide Sales 2010 EUR 10.3 billion Operating profit 2010 EUR 754.1 million Market capitalisation EUR 6.1 billion Shares listed on Helsinki and Stockholm stock exchanges November 23. 2011

3. 3 Stora Enso in Poland November 23. 2011 Ostrolęka Tychy Warszawa Łódź Mosina Moskwa Stora Enso is a market leader in the pulp and paper branch in Poland. Core products made in Poland are: industrial papers, paper sacks, corrugated board and boxes, including litho-laminated packaging. Stora Enso headquarter in Poland is in Ostrołęka, 120 km to the north-east of Warsaw. Production mills are located in Ostrołęka, Łódź, Tychy and Mosina. Stora Enso Saw mill is located in Murów. Paper 35% Corrugated board & boxes 50% Paper sacks 15%

4. 4 PM5 project The aim of the project is to support the growth of Stora Enso corrugated packaging in Eastern Europe and Russia through competitive supply of light-weight containerboards. Raw material integration would be increased from 35 % to 60 % in corrugated packaging. New significantly improved technology allows substantial light weighting of corrugated paperboard and packages. The products planned to be introduced through project implementation will be characterized by: –reduced basis weight of paper (the lower weight of square m – so called gsm), –the significantly improved papers will be characterised by better technical properties from those now available in the market, in particular the better strength parameters, paper uniformity across the web and stability of parameters, A key aspect from the environmental point of view – lower gsm means that to produce defined amount of cardboard less raw material (recovered paper – RCP), water, chemicals and energy is needed. Any other company in the world is able do fulfil all above characteristics. Implementation of PM5 project in Poland will enhance competition and will have positive impact on the overall condition of the Polish economy. November 23. 2011

5. 5 PM5 project - Investment & subsidy value Project value and granted subsidy: Total project value (including VAT) 1 192 289 531,27 PLN Value of the subsidy 90 943 287,21 PLN November 23. 2011

6. 6 Project compliance with objectives of IE OP The implementation of the project fulfils three out of six objectives of IE OP: –Improvement of innovativeness of enterprises By the investment the most innovative technology of paper production will be implemented. At present neither in Poland nor in the world such advanced technological line with such potential is in operation. –Increasing the share of innovative products of Polish economy in the international market – significantly improved papers will be characterized by: low gsm – liners: from 70 g/m 2 and of flutings: from 65 g/m 2, which is about 10g/m 2 less than current gsm of liner and flutings; significantly higher strength parameters - 1,9-2,45 SCT CD (Short Crush Test - resistance to crumple with a short Cross Direction) [kN/m], whereas the standards range from 1,6-2,1 SCT CD; the exceptional stability of the basis weight, resulting from the application of the most advanced technological and technical solutions, ensuring equal gsm of the whole paper web and elimination of the surface defects, the highest cleanness of the RCF (Recovered Fibre – pulp made of Recovered Paper) –Creation of permanent and better workplaces – 154 new workplaces will be created. Nosemę 23. 2011

7. Project influence on environment Reject from paper production will be used as a fuel in the power plant. Innovative technology which will be implemented if the subsidy is granted will allow to reduce the consumption of: –Electricity– almost 27,3 GWh less per year in comparison to current solutions; –Heat– 605,15 TJ less per year in comparison to current solutions; –Water– almost 2,64 million m 3 less per year in comparison to current solutions. Water intake and effluent treatment plant will allow for the rational water management in the project. Reduced basis weight of paper will allow to reduce transportation cost and its negative influence on the environment. Increased usage and collection of Recovered Paper (RCP) will allow to decrease amount of lanfilled paper. November 23. 2011 Own RCP collection Board Production Converting/ Packaging RCP RCP Flow Customer

8. 8 November 23. 2011