Full year Report, January – December 2009

Higher metal prices but lower metal grades during fourth quarter

Q4 2009 • Revenues totalled SEK 8,356 million (SEK 6,287 m). • The operating profit was SEK 1,232 million (SEK -491 m). Excluding revaluation of process inventory, the operating profit was SEK 870 million (SEK 211 m). • The free cash flow totalled SEK 350 million (SEK -534 m). • Earnings per share totalled SEK 3.00 (SEK -1.65). Full year 2009 • Revenues totalled SEK 27,635 million (SEK 30,987 m). • The operating profit was SEK 3,623 million (SEK 1,004 m). Excluding revaluation of process inventory, the operating profit was SEK 2,350 million (SEK 1,793 m). • The free cash flow totalled SEK -948 million (SEK 837 m). • Earnings per share totalled SEK 9.14 (SEK 3.42). • The Board of Directors proposes that the Annual General Meeting approve payment of a dividend of SEK x (SEK 1) per share. • Financial targets adjusted Contact persons for information: Lennart Evrell, President & CEO Tel: (exchange): +46 8 610 15 00 Johan Fant, CFO Tel: (exchange): +46 8 610 15 00 Frans Benson, Investor Relations Tel: +46 8 610 15 23 Please find enclosed the full Q4 Report.