Conversion of A shares into R shares 

According to section 14 of Stora Enso Oyj's Articles of Association, the request for conversion of series A share to series R share by a shareholder who owns series A shares can be made at any time.

Conversion of shares is voluntary: shares will be converted only upon the request of a shareholder or, if the shares are registered in the name of a nominee, upon the request of the nominee entered in the book-entry register. Shareholders who do not want to convert their A shares into R shares, do not have to take any action.

Each A share and each ten R shares entitle a shareholder to one vote at the shareholders' meeting. However, each shareholder shall have at least one vote. Both series of shares entitle to equal dividend. Stora Enso's A and R shares are listed on the NASDAQ OMX Helsinki and Stockholm.