Q1 2015 Interim Report

Q1 2015 · Revenues totalled SEK 10,407 million (8,550) · The operating profit totalled SEK 1,205 million (265) · The operating profit, excluding the revaluation of process inventory, totalled SEK 1,102 million (385) · Free cash flow totalled SEK 19 million (-432) · Earnings per share totalled SEK 3.27 (SEK 0.56) Improved prices and terms affected by strong USD · The effect of a stronger USD and improved smelting terms outweighed the impact of lower metal prices. · Several minor disruptions to Smelters’ processes resulted in lower feed compared to preceding