THIS ANNOUNCEMENT IS NOT BEING MADE IN, AND COPIES OF IT MAY NOT BE DISTRIBUTED OR SENT INTO, THE UNITED STATES, AUSTRALIA, CANADA, HONG KONG, JAPAN, SINGAPORE OR SUCH OTHER COUNTRIES OR OTHERWISE IN SUCH CIRCUMSTANCES IN WHICH THE OFFERING OF THE CAPITAL SECURITIES OR THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

Stora Enso has successfully completed the issuance of two tranches of hybrid bonds with a total nominal amount of EUR 1 billion. The proceeds from the issuance will be used for general corporate purposes, including the refinancing of existing debt and upcoming maturities.

The transaction includes two tranches:
- EUR 500 million hybrid bond with a 3-year first call period
- EUR 500 million hybrid bond with a 5.5-year first call period

The bonds are subordinated instruments with no fixed maturity date. They are treated as equity under IFRS and are an important part of Stora Enso's long-term financing strategy, strengthening the company's capital structure and financial flexibility. The first bond is issued at price of 100.00 and bears a fixed interest rate of 5.625% per annum until 17 April 2029, after which the rate will reset periodically based on prevailing market conditions. The second bond is issued at price of 99.47 and bears a fixed interest rate of 5.875% per annum until 17 October 2031, with subsequent resets on the specified dates.

The bonds will be listed on the Global Exchange Market of Euronext Dublin.

"We are pleased with the strong investor demand for our hybrid bond issuance, which enhances Stora Enso's financial flexibility and supports our long-term strategy. The positive market response reflects confidence in our financial strength and commitment to a solid investment-grade rating. The attractively priced bonds further strengthen our capital structure, and we are very satisfied with the outcome in terms of size, pricing, and investor quality," says CFO Niclas Rosenlew.

For further information, please contact:
Kaarlo Höysniemi 
Head of Group Treasury 
tel. +358 400 251 179 

Stora Enso is a global leader in renewable materials with a strong focus on packaging. Our purpose is to replace non-renewable materials with renewable solutions. Together with our customers, we design and deliver competitive, high-quality packaging materials and solutions, made from fresh and recycled fibers, accelerating the transition to a circular bioeconomy.
Stora Enso has approximately 19,000 employees and our sales in 2025 were EUR 9.3 billion. Stora Enso's shares are listed on Nasdaq Helsinki Oy (STEAV, STERV) and Nasdaq Stockholm AB (STE A, STE R). In addition, the shares are traded on OTC Markets (OTCQX) in the USA as ADRs and ordinary shares (SEOAY, SEOFF, SEOJF). storaenso.com/investors

STORA ENSO OYJ

Important Information 
The information contained herein is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into the United States, Australia, Canada, Hong Kong, Japan, Singapore or such other countries or otherwise in such circumstances in which the release, publication or distribution would be unlawful. The information contained herein does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, the Capital Securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction. 

Nothing in this communication constitutes an offer of securities for sale in the United States or any other jurisdiction where it is unlawful to do so. The Capital Securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "Securities Act"), or with any securities regulatory authority of any state or other jurisdiction of the United States. The Capital Securities are being offered or sold outside the United States in accordance with Regulation S under the Securities Act ("Regulation S"), and may not be offered and sold or delivered within the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S), except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.

This communication is directed only at persons who (a) are outside the United Kingdom or (b) have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (c) are persons falling within Article 49(2)(a) to (d) ("high net worth companies, unincorporated associations, etc.") of the Order or (d) other persons to whom it may otherwise lawfully be communicated under the Order (all such persons together being referred to as relevant persons). This communication must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which the communication relates is available only to relevant persons and will be engaged in only with relevant persons.