Valmet's largest shareholders according to the shareholder register of September 1, 2015 and formation of the Nomination Board

The representatives of the four largest shareholders registered in Valmet's shareholder register as of September 1, 2015 are elected to the Nomination Board along with the Chairman of the Board of Directors Bo Risberg as an expert member. The Nomination Board is to prepare proposals on members of the Board of Directors and their remuneration for the next Annual General Meeting which is planned to be held on March 22, 2016.

According to the shareholders register in Euroclear, Valmet Corporation's four largest shareholders on September 1, 2015 were:

• Solidium Oy (16,695,287 shares and votes or 11.14% of share capital and votes)

• Cevian Capital Partners Ltd (10,323,191 shares and votes or 6.89% of share capital and votes)

• Solero LuxCo S.à r.l. (Funds advised by Triton) (5,349,756 shares and votes or 3.57% of share capital and votes)

• Varma Mutual Pension Insurance Company (4,208,465 shares and votes or 2.81% of share capital and votes)

Should a shareholder not wish to exercise his/her nomination right, the right shall be transferred to the next largest shareholder who otherwise would not be entitled to nominate a member.