Driving Sustainable Economies

Pulp & Paper: Early signs of market bottoming Market environment in Q3 2023 . Market remained weak at Q2 2023 levels due to weak economic activity and inventory destocking. Market weak particularly in EMEA. REVENUE AND ORGANIC REVENUE GROWTH (Y-ON-Y) EUR million 537 556 488 505 420 447 370 378 391 421 404 2% 9% 11% 11% 17% 22% 29% 28% 12% -10% -19% · Early signs that market has reached the bottom, no meaningful recovery in sight yet Organic growth Q3 2023: -19%; 1-9 2023: -7% • • Sales volumes declined following weak market volumes, sequentially volumes increased modestly Market prices for energy-intensive pulp and bleaching chemicals declined following normalization of electricity prices Operative EBITDA EUR 68.9 million • Operative EBITDA margin rather stable at 17.1% with sequential improvement -excellent achievement in a challenging market environment Q1 Q2 Q3 Q4 Q1 Q2 Q3 2021 2022 Q4 Q1 Q2 Q3 2023 OPERATIVE EBITDA AND OPERATIVE EBITDA-% EUR million 110.9 109.4 92.3 21.7% 73.6 62.9 63.5 71.3 19.9% 65.2 68.9 57.8 60.5 17.0% 17.2% 17.1% 16.2% 16.0% 15.3% 14.4% 15.1% 15.5% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2021 2022 2023 Kemira OCTOBER 24, 2023 INVESTOR PRESENTATION 61

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