1. Juha Sivonen February 7, 2006 Tulikivi Corporation

2. Briefing on February 7, 2006 at 9:30 Welcome Financial Statements 2005 Managing Director’s review Tulikivi’s future

3. Financial Statements 2005 Consolidated revenue was up 6.1% to EUR 58.6 million (55.3) Comparable earnings improved by 20.2 % Profit before taxes was EUR 6.1 million (comparable: 5.0, published: 6,1) Revenue in Q4 increased by 10.7% and comparable earnings by 54.7% Cash flow from operating activities before investments was EUR 10.5 million (6.5) The order book at year’s end was EUR 9.2 million (5.4)

4. Comparability A positive non-recurring entry amounting to EUR 1,2 million was entered in the final quarter of the 2004 IFRS financial statement. Reason was the withdrawal of the disability pension obligation due to the change in the pension system under the Employees´Pensions Act (TEL)

5. Sales58,655,36,1 Operating profit6,3 6,3/5,1 0,0/+22 Percentage of sales10,7 11,4/9 Profit before taxes6,1 6,1/5,0 -1,0/+20 Percentage of sales10,3 11,1/9 Profit for the year4,44,40,4 01-12/2005 01-12/2004Change, % Consolidated Income Statement, Abstract Me

6. Earning per share, EUR0,48 0,48/0,39 Equity per share, EUR2,802,54 Return on investment20,7 20,3/16,5 Equity ratio, %63,055,3 Gearing, %-3,112,1 Current ratio 1,61,9 Order book, (31 Dec.) MEUR9,25,4 Gross investments, MEUR4,83,9 Gross investment, % of sales8,17,1 Average number of staff514513 12/2005 12/2004 Number of shares average 91063859106385 Number of shares 31 Dec.91063859106385 Key Financial Ratios and Share Ratios

7. 12/200512/2004 Assets Non-current assets 22.021.0 Inventories7.07.5 Current assets 11.613.4 Equity and liabilities Equity 25.523.1 Provisions0.30.2 Interest-bearing liabilities3.38.7 Non-interest bearing liabilities 11.49.9 Balance sheet total40.641.9 EUR million Consolidated Balance Sheet

8. 12/200512/2004 Cash flows from operating activities Profit for the period4,44,4 Adjustments: Non-cash transactions4,02,8 Interest expenses and income and taxes1,81,9 Change in working capital1,8-0,6 Interst paid and received and taxes paid-1,5-2,0 Net cash flow from operating activities10,56,5 Cash flows from investing activities Acquisition of subsidiaries and associated companies and loans granted to them-0,1-0,1 Investments in property, plant and equipment and intangible assets-5,1-3,5 Grants received for investments and sales of property, plant and equipment0,30,2 Investments in /proceeds on financial assets at fair value through profit and loss, change0,8 Net cash flow from investing activities-4,1-3,4 Cash flows from financing activities Loans received5,6 Repayment of loans-5,3-4,8 Dividends paid-2,1-4,6 Net cash flow from financing activities-7,4-3,8 Change in cash and cash equivalents-1,0-0,7 Cash and cash equivalents at beginning of period5,15,8 Cash and cash equivalents at end of period4,15,1 MEUR Consolidated Cash Flow Statement

9. Outlook for the Future Tulikivi´s sales are still rising in both its main and new markets. Company is making further outlays on the development of distribution channels and product marketing. Uncertainties regarding the distribution of energy and the rising price of heating energy increase the demand for fireplaces. The trend in the Group’s revenue and earnings is positive at the annual level. The order book is on the record level

10. Propositions of the board of directors to the Annual General Meeting 6.4.2006 Dividend proposal 0,280 €/A-share, 0,273 €/K-share, totalling 2,5 m€ (=57% of the net result). Split: nominal value of both series of shares 0,68  0,17€; each existing share will be divided in four new shares. Renewing the authorization to buy back company´s own shares (max. 672.138 A and 238.500 K, numbers before the split) Authorizing the Board of Directors to decide on rising the share capital (max. 1.821.277, numbers before the split) with the right to waive the pre-emptive subscription right of shareholders provided there is a weighty financial reason for the company to do so.