OUTOKUMPU OYJ U/ADR NEW - OUTKY STOCK NEWS

Outokumpu plans to release its Q1 2022 interim report on May 5, 2022, at approximately 9:00 am EEST. Following the report, a live webcast and conference call for analysts, investors, and media representatives will occur at 3:00 pm EEST. Hosted by President and CEO Heikki Malinen and CFO Pia Aaltonen-Forsell, the event will allow participants to ask questions via a conference call. Further details and materials will be available on Outokumpu's investor page.

Outokumpu Oyj has announced its Annual General Meeting scheduled for March 31, 2022, to be conducted virtually to prevent COVID-19 transmission. Shareholders can vote in advance and submit questions. Key agenda items include the adoption of the annual accounts, a proposed dividend of EUR 0.15, and the election of a new Board member.

Notably, the Board seeks authorization for share repurchase up to 45 million shares and to issue new shares, representing approximately 9.85% of total shares. The total number of shares is 456,874,448.

Outokumpu has released its Annual Report 2021, available in both English and Finnish, which includes a Sustainability Review, Corporate Governance Statement, Remuneration Report, and Financial Statements. The report complies with European Single Electronic Format (ESEF) requirements and features assured financial statements. The sustainability review aligns with the Global Reporting Initiative and Task Force on Climate-related Financial Disclosures frameworks. All reports are accessible via Outokumpu’s website.

Outokumpu reported strong financial performance for 2021, with stainless steel deliveries reaching 2,395,000 tonnes, a 13% increase compared to 2020. Adjusted EBITDA soared to EUR 1,021 million, up from EUR 250 million. Q4 sales hit EUR 2,215 million, significantly higher than Q4 2020's EUR 1,350 million. Net debt decreased to EUR 408 million, with a proposed dividend of EUR 0.15 per share. However, profitability faced challenges from rising energy and consumable prices. The company expects increased stainless steel deliveries for Q1 2022.

Outokumpu Oyj announced that it will release its Financial Statements for 2021 on February 8, 2022, at around 9.00 am EET. A live webcast and conference call for investors will follow at 3.00 pm EET, hosted by Heikki Malinen and Pia Aaltonen-Forsell. Participants can join via a conference call by dialing in 5–10 minutes prior to the event. The event will be accessible online, and recordings will be available afterwards through the company's investor relations page.

Outokumpu has announced the initiation of its share-based programs for the period 2022–2024, including the Performance Share Plan and the Restricted Share Pool. The plans, commencing in early 2022, allow for a maximum of 150 participants with a total allocation of 3,700,000 shares. Additionally, 10,950 shares from the 2019–2021 Restricted Share Pool will be awarded to Pia Aaltonen-Forsell in December 2021, ahead of the scheduled delivery in spring 2022. More details on the programs are available on Outokumpu's investor relations website.

Outokumpu announced its financial reporting schedule for 2022. The key dates include the Financial Statements release on February 8, 2022, the Interim Report for Q1 on May 5, 2022, the Half-year Report on August 4, 2022, and the Interim Report for Q3 on November 3, 2022. Additionally, the Annual Report for 2021 will be released in week 9, and the Annual General Meeting is tentatively set for March 31, 2022. The Board will finalize the meeting details later.

On December 8, 2021, Outokumpu Oyj announced the total redemption of its EUR 250 million senior secured notes due in 2024. This redemption, financed through existing cash reserves, is part of the company's strategy to reduce debt. CFO Pia Aaltonen-Forsell noted that the firm had already prepaid EUR 210 million in debt this year, lowering net debt to EUR 749 million. Consequently, the leverage ratio decreased to 1.0, below the target of 3.0, and Moody's upgraded the company's rating to Ba3 with a stable outlook.

The Shareholders' Nomination Board of Outokumpu Oyj proposes key changes for the 2022 Annual General Meeting. They recommend an eight-member Board, re-electing six current members including Kari Jordan as Chairman and Kati ter Horst as Vice Chairman. New member Petter Söderström would join, with a note that he is independent of the company but not of major shareholder Solidium Oy. The board members' annual remuneration will rise, with specific increases detailed for each position and 40% paid in company shares. Meeting fees will remain unchanged.