EARNINGS CRITERIA FOR THE OUTOKUMPU STOC
OUTOKUMPU OYJ STOCK EXCHANGE RELEASE February 10, 2004 at 1.45 pm
EARNINGS CRITERIA FOR THE OUTOKUMPU STOCK OPTIONS SET FOR 2004 The Board of Directors of Outokumpu Oyj has decided the earnings criteria on the basis of which stock options 2003B will be distributed to 131 key persons of the Outokumpu Group in spring 2005. The earnings criteria comprise the Groups earnings per share (EPS), share price development, and additionally gearing for the Group Executive Committee members. Based on EPS in 2004 no more than 50% of the maximum number of stock options can be distributed for the Group Executive Committee members. For other key persons, no more than 75% of the maximum number of stock options can be distributed based on EPS. One- fourth of the maximum number of stock options can be distributed based on Outokumpu share price development. In addition, the number of stock options to be distributed to the Group Executive Committee member is linked to the Groups gearing. No more than 25% of the maximum number of stock options can be distributed based on gearing. A total maximum of 1 700 000 Outokumpu Oyj shares can be subscribed for with the 2003B stock options between September 1, 2007 and March 1, 2010. Subscription price for a stock option will be the trading volume weighted average of the Outokumpu share on the Helsinki Exchanges between December 1, 2004 and February 28, 2005. The Annual General Meeting of shareholders approved the issue of stock options on April 3, 2003. The terms and conditions of the stock options were published in a stock exchange release on that date. The stock options are intended to form a part of the incentive and commitment program for the key personnel with a purpose to encourage them to work on a long-term basis to increase shareholder value. OUTOKUMPU OYJ Corporate Management Johanna Sintonen Vice President Investor Relations tel. +358 9 421 2438, mobile +358 40 530 0778, fax +358 9 421 2125 e-mail: johanna.sintonen@outokumpu.com www.outokumpu.com