APRIL 26, 2024

Kemira Investor Presentation Chemistry with a purpose.

Better every day.

INVESTOR PRESENTATION

INVESTOR PRESENTATION

Content

  1. Kemira in brief
  2. Investment highlights
  3. Kemira as a sustainable investment
  4. Pulp & Paper
  5. Industry & Water
  6. Recent progress
  7. Appendix

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INVESTOR PRESENTATION

Kemira in brief

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I N V E S T O R P R E S E N T A T I O N

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Kemira in brief

LTM EXCL. OIL & GAS: REVENUE EUR 2,812 MILLION, OPERATIVE EBITDA EUR 586 MILLION, OPERATIVE EBITDA MARGIN 20.8%, OPERATIVE ROCE 21.6%

SEGMENT SPLIT

◼ 40%

◼ 60%

Industry & Water

Pulp & Paper

#2 globally

#1 in water treatment in Europe

GEOGRAPHIES

10%

APAC

35%

1. China

AMERICAS

2. Indonesia

1. USA

3. South

2. Canada

Korea

3. Brazil

55%

EMEA

1. Finland

2. Sweden

3. Germany

PRODUCTS

◼ 15% Other:

e.g. defoamers,

◼ 25% Bleaching

dispersants,

and pulping

and biocides

◼ 15%

Sizing

and

strength

◼ 15%

◼ 30%

Polymers

Coagulants

Revenue by geographies and product category represent FY 2023.

CUSTOMERS

Several thousand customers

TOP 10 customers are ~25% of revenue TOP 50 customers are ~50% of revenue

EXAMPLES OF

LARGEST CUSTOMERS

Municipalities, e.g.

Berlin, New York,

Paris, Shanghai

Note: Figures excl. Oil & Gas. Revenue by industry, product and geography rounded to the nearest 5%

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Kemira in your everyday

COAGULANTS

POLYMERS

SIZING AND

BLEACHING

STRENGTH

30%

15%

15%

25%

Main water treatment chemical,

Important water treatment

Important specialty chemical in

pulp & paper, used to improve

Critical product in pulp & paper,

used to coagulate impurities in

chemical, used to separate

strength and water resistance

used to clean and bleach pulp

wastewater and drinking water

solid from liquid

of packaging materials

%

Share of revenue

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Global reach - local excellence

57 MANUFACTURING SITES

Regional HQ

Atlanta, USA

R&D

Atlanta, USA

AMERICAS 35%

UNITS IN AROUND

40 COUNTRIES

1,200

SALES IN OVER

100+ COUNTRIES

Polymers and other process chemicals (23) Bleaching and pulping (10)

Coagulants (24)

KEMIRA HQ

Helsinki, Finland

R&D

Espoo, Finland

Regional HQ

Shanghai, China

R&D

Shanghai, China

EMEA 55%

ASIA PACIFIC 10%

2,500

900

Employees

R&D and technology centers

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Superior transformation into a water- focused company

1950

1961

Development of

Name changed

first chemicals for

to Rikkihappo Oy

paper applications

(Sulfuric acid Ltd.)

STATE-

OWNED

1972

1985-1992

The "Kemira"

Expansion

name adopted

continues in

Europe e.g.,

Belgium and

Spain

1994

Kemira is listed on the Helsinki stock exchange

PUBLICLY TRADED COMPANY

2008

2015

2023

Water chemistry

Acquisition of

Strategic review

established as the

Akzo Nobel's

of the Oil & Gas

focus of strategy

paper chemicals

business initiated

business

FERTILIZERS AS

CONGLOMERATE

CORE STRATEGY

1920

1982

1989

First expansion

Establishment of

Kemira expands

the state-owned

abroad to the UK

to Asia through

sulphuric acid and

joint venture in

phosphorous

Japan

fertilizer plants

2004

GrowHow listed on the Helsinki Stock Exchange

WATER AS

CORE STRATEGY

2009

2020

2024

Tikkurila listed on

Kemira centennial

Divestment of the

the Helsinki Stock

anniversary

Oil & Gas

Exchange

business closed

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Pulp & Paper - strong business with solid track record

REVENUE AND OPERATIVE EBITDA

REVENUE BY CUSTOMER

REVENUE BY

EUR million

TYPE AND MARKET GROWTH

PRODUCT CATEGORY

2,200

348

331

◼ 40%

◼ 45%

◼ 15%

◼ 1% Other

2,000

Pulp

Board &

Printing &

◼

40%

◼ 10%

tissue

writing papers

1,800

260

245

Bleaching

1,600

218

Polymers

& pulping

198

192

◼ 20%

1,400

2,028

1,200

1,748

Defoamers,

dispersants,

1,477

1,520

1,523

1,458

1,560

1,000

Market

biocides,

◼

30%

1-2%

2-3%

-3--4%

800

growth*

coagulants

Sizing &

and

strength

600

other process

2017

2018

2019

2020

2021

2022

2023

chemicals

MARKET ENVIRONMENT

REVENUE BY GEOGRAPHIES AND

CUSTOMER EXAMPLES

Solenis (paper)

#1

MARKET GROWTH BY REGION

◼ 15%

◼ 50%

◼ 35%

Kemira (pulp and paper) m.s. ~18% #2

APAC

EMEA

Americas

Nouryon (pulp)

#3

Ecolab (paper)

#4

Market

3-4%

1%

2-3%

Kurita (paper)

#5

growth*

*chemical market growth in 2023-2028

Note: Revenue by industry, product and geography rounded to the nearest 5%

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Industry & Water - strong market positions

REVENUE AND OPERATIVE EBITDA

REVENUE BY APPLICATION

REVENUE BY

EUR million

TYPE AND MARKET GROWTH

PRODUCT CATEGORY

1,800

336

1,600

◼ 90%

◼ 10%

◼ 15%

◼ 60%

1,400

224

Water treatment

Other

Other

Coagulants

1,200

192

181

products

1,000

175

Municipal

Industrial

1,635

800

114

131

1,136

1,115

1,542

such as

600

1,009

1,073

970

defoamers

400

and biocides

200

0

2017

2018

2019

2020

2021

2022

2023

Market

4-5%

3-4%

◼ 25%

growth*

Polymers

MARKET ENVIRONMENT

REVENUE BY GEOGRAPHIES AND

WATER TREATMENT

CUSTOMER EXAMPLES

MARKET GROWTH BY REGION

Market share

◼ 5%

Coagulants

Polymers

◼ 55%

◼ 40%

MUNICIPAL

INDUSTRIAL

EMEA

Americas

APAC

customer examples

customer examples

EMEA

25%

25%

Amsterdam Los Angeles

AMERICAS

20%

10%

Barcelona

Montreal

Berlin

New York City

Main competitors in coagulants:

Oslo

Toronto

•

Feralco (Europe)

Market

Paris

Shanghai

Stockholm

•

Kronos (Europe)

growth* 4-5%

5-6%

5-6%

•

Chemtrade (NA)

•

USAlco (NA)

*chemical market growth in 2023-2028

Note: Figures excl. Oil & Gas. Revenue by industry, product and geography rounded to the nearest 5%

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INVESTOR PRESENTATION

Investment highlights

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Kemira Oyj published this content on 26 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 April 2024 15:01:00 UTC.