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Stora Enso's Shareholders' Nomination Board Formation

On September 5, 2025, Stora Enso Oyj announced the establishment of its Shareholders' Nomination Board, a body designed to remain active until a decision is made otherwise. This Board plays a crucial role in shaping the governance of the company by preparing annual proposals concerning the election and remuneration of Board of Directors members and Board committee appointments.

The Nomination Board is structured around key leadership figures within Stora Enso. It consists of the Chair and Vice Chair of the Board, alongside two members selected from the company’s two largest shareholders, who as of August 31, 2025, were Solidium Oy and FAM AB. This blend of internal leadership and significant external shareholders allows for a balanced approach to corporate governance.

Composition of the Nomination Board

The individuals appointed to the Shareholders' Nomination Board include:
1. Kari Jordan - Chair of Stora Enso's Board of Directors
2. Håkan Buskhe - Vice Chair of Stora Enso's Board of Directors
3. Jouko Karvinen - Chair of Solidium Oy's Board of Directors
4. Marcus Wallenberg - Chair of FAM AB's Board of Directors

In a strategic move, the Nomination Board has elected Marcus Wallenberg as its Chair, which underscores the importance of leadership continuity and effective governance in the company.

Roles and Responsibilities

The primary responsibility of this Nomination Board is to ensure that the governance of Stora Enso meets the highest standards of efficiency and accountability. Each year, it prepares proposals that will be presented at Stora Enso's Annual General Meeting, which includes recommendations about:

• - The election of new members to the Board of Directors.
• - Setting remuneration for these Board members and members of the board committees.
• - Appointing both the Chair and Vice Chair of the Board of Directors.

This governance structure intends to enhance transparency and reinforce shareholder confidence in the company's direction. By ensuring that nominations and appointments consider both strategic expertise and shareholder interests, Stora Enso is taking significant steps towards solidifying its governance practices.

The Path Forward

Stora Enso, with its mission to transition to renewable resources, continues to position itself at the forefront of sustainable business practices. With approximately 19,000 employees and sales totaling EUR 9 billion in 2024, the company's governance and operational strategies are pivotal.

As part of its broader business model, which emphasizes forest resources and sustainability, Stora Enso believes in the potential to convert all fossil-based materials into alternatives derived from renewable resources, mainly trees. This commitment is a cornerstone of their operational philosophy and mission statement.

The Shareholders' Nomination Board's establishment echoes Stora Enso's dedication to strengthening corporate governance while adapting to modern challenges within the industry. The inclusion of both internal and external perspectives through this Nomination Board underscores a collaborative approach to leadership and decision-making.

For any inquiries and further information regarding Stora Enso and its governance framework, stakeholders can reach out to:

• - Carl Norell - SVP Corporate Communications (tel. +46 72 241 0349)
• - Jutta Mikkola - SVP Investor Relations (tel. +358 50 544 6061)

In conclusion, the formation of the Shareholders' Nomination Board reflects Stora Enso’s ongoing efforts to enhance its corporate governance framework in alignment with its mission and the expectations of its stakeholders.