Change in Stora Enso's Group Leadership Team

HELSINKI, June 23, 2022 /PRNewswire/ -- STORA ENSO OYJ STOCK EXCHANGE RELEASE 23 June 2022 at 13:00 EEST

Kati ter Horst, Executive Vice President, Paper Division and a member of the Group Leadership Team, has decided to leave Stora Enso as of 1 July 2022. After more than 25 years with the Company, she will now pursue career opportunities outside of Stora Enso.

Kati ter Horst joined Stora Enso in 1996 and has been leading the Company's Paper division since 2014.

"As a highly valued member of our Group Leadership Team, Kati has been instrumental in driving Stora Enso's transformation journey into a renewable materials company by contributing to strategy development. She has showed strong leadership and has played a key role in the extensive restructuring process of our paper business. I want to express my gratitude to Kati for her significant contributions to Stora Enso, while wishing her all the best in her future endeavours," says Annica Bresky, President and CEO at Stora Enso.

"I have had a fantastic international career at Stora Enso, and I am very thankful for all that I have learned and for the opportunity to work with great people. This is a good moment for me to leave and start something new," says Kati ter Horst.

In addition to his other duties, Seppo Parvi, CFO, will assume acting responsibility for the Paper division.

Stora Enso announced in March this year that it was initiating a sales process for possible divestment of four of its five paper production sites. The process is ongoing. Stora Enso has started a feasibility study at its paper production site in Langerbrugge, Belgium, for the conversion of one of the two paper lines into a high-volume recycled containerboard line. The feasibility study is expected to be finalised in the first half of 2023.

For further information, please contact:
Carl Norell
Press Officer
Tel. +46 72 241 0349

Investor enquiries:
Anna-Lena Åström
SVP Investor Relations
Tel. +46 70 210 7691

Part of the global bioeconomy, Stora Enso is a leading provider of renewable products in packaging, biomaterials, wooden construction and paper, and one of the largest private forest owners in the world. We believe that everything that is made from fossil-based materials today can be made from a tree tomorrow. Stora Enso has approximately 22,000 employees and our sales in 2021 were EUR 10.2 billion. Stora Enso shares are listed on Nasdaq Helsinki Oy (STEAV, STERV) and Nasdaq Stockholm AB (STE A, STE R). In addition, the shares are traded in the USA as ADRs (SEOAY). storaenso.com/investors

STORA ENSO OYJ

For further information, please contact:
Carl Norell
Press Officer
Tel. +46 72 241 0349

Investor enquiries:
Anna-Lena Åström
SVP Investor Relations
Tel. +46 70 210 7691

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