Investor Presentaiton

77 17 Paper and Board market in the short and mid term China plays a leading role in Paper & Board production globally EMEA 27 % AP 21 % ΝΑ 20% 180 Million tons SA 160 4 % 140 120 100 China 80 28 % November 14, 2023 O Valmet | Investor site visit to Jiading, Shanghai 60 4 20 40 0 Chinese P&B production is projected to reach 140 million tons by 2025 and 170 million tons by 2035 According to China Pulp & Paper industry 14th development plan, Production CAGR 2.6% '14 '15 '16 '17 Consumption, YoY -1.94% 140 Production, YoY +2.64% '18 '19 '20 '21 122 Source: RISI; China Paper Association '23 '24 '25* '35* 170 Valmet

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