Kemira Q1 2013 result presentation

1
Kemira Interim
report
January-March 2013
Wolfgang Büchele, President and CEO | April 23, 2013

2
Improved profitability supported by organic growth
Revenue EUR 560.9 million (552.9 in Q1 2012), +1%
• Organic revenue growth +3%, driven by increased sales volumes
Operative EBIT EUR 42.2 million (38.6), +9%
• Operative EBIT margin 7.5% (7.0%)
• ”Fit for Growth” savings EUR 9 million
Operative earnings per share EUR 0.17 (0.19)
• Excluding EUR 12 million negative impact of the lower income from the associated
companies, operative EPS would be 33% higher at EUR 0.25
Net working capital (ratio) of revenue reduced to 12.1% (12.8% in 2012)
With a net debt of EUR 357 million (532), the gearing fell to 30% (42% in
the end of December, 2012)
• EUR 178 million proceeds received from the divestments of food and pharmaceuticals
businesses and Kemira’s shares in JV Sachtleben
Q1 2013 Interim report | Wolfgang Büchele | April 23, 2013 |

3
Revenue growth trend
-15%
-10%
-5%
0%
5%
10%
15%
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
2009 2010 2011 2012 2013
Organic growth Currency Acquisitions Divestments Total growth

4
Paper – sales volume growth in EMEA and APAC
Revenue increased by 5% to EUR 259
million (248)
• Increased sales volumes of polymers
and sizing in EMEA and APAC
• Currency exchange -1%
Operative EBIT increased 5%
to EUR 19.7 million (18.8)
• Organic revenue growth
• ”Fit for Growth”
• Higher raw material prices
• Operative EBIT margin was 7.6% (7.6%)
Cash flow was strong due to changes in
net working capital
EUR million Q1/13 Q1/12 % 2012
Revenue 259.1 247.9 5 1,005.6
Operative EBIT 19.7 18.8 5 75.3
Operative EBIT, % 7.6 7.6 - 7.5
Cash flow* 29.9 -0.9 - 8.1
*After investing activities, excluding interest and taxes

5
Municipal & Industrial – profitability improved
Revenue increased 2% to
EUR 165 million (161)
• Organic growth 4%, all regions, except NAFTA,
contributed to the growth
• Sales prices slightly lower than in Q1 2012
Operative EBIT increased 51% to
EUR 8.6 million (5.7)
• Organic growth
• ”Fit for Growth” savings
• Higher raw material prices
• Operative EBIT margin increased to 5.2% (3.5%)
Revenue 164.8 161.0 2 686.6
Cash flow* 0.0 6.8 - 39.2

6
Oil & Mining – Sales volumes grew in
Oil & Gas in North America
Revenue decreased 10% to
EUR 76 million (85)
• -4% impact related to exiting from low margin
products as communicated earlier (full impact of EUR
10 million will be realized by the end of 2013)
• Pressure on sales volumes due to market softness in
the mining industry globally
• Polymer sales volumes in Oil & Gas grew 8%
in North America
Operative EBIT decreased to
• Lower sales volumes and prices
• Higher propylene and ethylene based raw material
prices
• Operative EBIT margin was 6.7% (9.8%)
Revenue 76.3 85.1 -10 321.1
Operative EBIT 5.1 8.3 -39 25.9
Cash flow* -2.0 -18.7 - -5.3

7
ChemSolutions – operative EBIT margin
improved to 14.5% (9.8%)
Revenue increased 3% to
EUR 61 million (59)
• Organic growth 10%, sales volumes grew
in all the main product lines
• Divestment of food and pharmaceuticals
businesses had -7% impact
Operative EBIT increased 52% to
• Higher sales volumes
• Lower fixed costs
Revenue 60.7 58.9 3 227.6
Cash flow* 81.1 14.2 - 23.6

8
10% EBIT margin achieved in 2014 through ”Fit for
Growth” restructuring
• ”Fit for Growth” cost savings impact was EUR 9 million in Q1 2013
(full run rate EUR 15 million per quarter)
• 85% of the cost savings measures related to ”Fit for Growth” under
implementation
EUR 60 million cost
savings
Restructuring charges
of EUR 85 million
1. Redundancies and leaner organization: EUR 30 million
2. Manufacturing network consolidation: EUR 21 million
3. Leaner operation: EUR 9 million
Reported between Q3 2012 – Q2 2013:
• EUR 45 million cash cost, mainly for severance payments,
EUR 43 million to date
• EUR 40 million, asset write-downs, EUR 30 million to date

10
Strategy sharpened in four key areas
43
21
We focus on
pulp & paper,
oil & gas, mining and
water treatment BUSINESS
INNOVATIONGEOGRAPHY
GROWTH
We leverage mature
markets and expand
in selected emerging
markets
We target
above-the-market
growth
We invest in
innovation,
expertise
(knowledge) and
competencies
(behaviour)
From redesing to expansion | Wolfgang Büchele | April 23, 2013 |

Kemira: Where water
meets chemistry
Strategy: Kemira provides expertise and tailored
combinations of chemicals for water-intensive
industries. We innovate together with our customers
for sustainable solutions where water meets
chemistry.
We focus on pulp & paper, oil & gas, mining and water
treatment to best improve our customers’ water,
energy and raw material efficiency.
We drive to achieve above-the-market growth through
our competent people, high-performing organization,
product and service innovations, and a strengthened
presence in selected emerging markets.
Purpose: We enable our customers to improve their
water, energy and raw material efficiency
Vision: We provide the most valuable expertise and
chemicals for water-intensive industries

12
2013-2015
Focus
Kemira – From redesign to expansion
2017-2020
Expand
Become industry and technology leader in
chosen target markets
2015-2017
Accelerate
Grow through new products & services and
expanding in emerging markets
Achieve a sustainable position
in all target markets
2012-2013
Redesign
Reach target profitability by
implementing “Fit for Growth”

13
New financial targets - outlook for 2013 unchanged
2013
Revenue (local currencies
and excl. divestments)
2014 2016
Operative EBIT
0%-5% growth vs 2012
increase >15% vs 2012
EBIT margin 10%
Revenue
EBITDA margin
Gearing
EUR 2.6 – 2.7 billion
15%
below 60%

14
1 | Focus on paper,
oil & gas, mining and
water treatment
Improving our
customers’ water,
energy and raw
material efficiency
Kemira in the value
chain of WQQM*
*Water Quality and Quantity Management
Expertise and tailored
combinations of
chemicals for water-
intensive industries

15
2 | Paper and Oil & Mining driving growth
Kemira’s relevant market (EUR 27 billion
in 2012) will grow to EUR 34 billion in
2020 (CAGR 3.3%)Paper: Growing above market,
targeting wet-end chemistry
market leadership
O&M: Growing above market
M&I: Improving profitability,
maximizing cash
ChemSolutions: Maximizing cash
by a product driven business model
Source: Management estimation based on various sources
7,7
9,3
7,7
9,5
9,4
13,2
2,0
2,3
2012 2020 2012' 2020'
O&MPaper
2.4%
ChemSolutionsM&I
4.3%
2.7%
1.8%
Business focus

16
Shifting focus to fast growing differentiated products
*) Mainly sodium percarbonate, colorants, acrylamide, inorganic salts and acids as well as caustic soda
Differentiated product lines Commodity product lines
%-of total
revenue
Polymers Sizing and
strength
Defoamers,
dispersants,
biocides and
other process
chemicals
Coagulants Bleaching
chemicals
Formic acid
and derivatives
Miscellaneous
commodity
products*
Paper 10% 20% 20% 5% 25% - 20%
M&I 20% - 5% 65% - - 10%
O&M 50% - 20% 5% - - 25%
Chem-
Solutions
- - - - - 80% 20%
Kemira 20% 10% 10% 25% 10% 10% 15%
*) Mainly sodium percarbonate, colorants, acrylamide, inorganic salts and acids as well as caustic soda

17
Differentiated products expected to grow substantially above the
market, commodity products focusing on efficiency improvements
Differentiated products
• Growth target substantially above the market
• Driven by innovation and expertise
• Higher margins due to higher value to the
customer
• Flexible manufacturing capabilities with
sufficient scale
• Higher barriers to entry (technology)
700
750
800
850
900
2010 2011 2012
Commodity products
• Targeting growth, but slightly lower than
the market
• Maximizing profitability and cash flow by
leveraging existing capacity
Revenue, EUR million
0
500
1000
1500
2010 2011 2012
EUR million
CAGR:+7%

18
Capital allocation focused on differentiated
products and increased efficiency
• Payback time for new greenfield investments max. 7 years and max. 5 years for capacity additions for
existing products
• Focus on Paper in China
• Strengthening Oil & Mining market position in mature markets, South America, Middle East and Africa
6,0 %
5,0 %
2012 2016e
Capex split in average
2010-2012
Targeted capex split
2016
Capex-to-sales ratio
30 % 70 %
Commodity products
Differentiated products
65 % 35 %

19
3 | Leverage mature markets and expand selectively in
emerging markets
Paper, M&I, O&M, ChemSolutions
O&M and Pulp
Paper (China and Indonesia)
Paper, O&M and M&I
O&M
(Middle East
and Africa)
• Innovation driven growth in mature markets
• Emerging market revenue expected to grow from 14% to 16% in 2016

20
Mature markets continue to stay important in all
segments
1 253 1 233
2011 2012
EMEA (55% of total revenue)
662 689
2011 2012
NAFTA (31% of total revenue)
39% 40%
2011 2012
GM %
38% 40%
2011 2012
GM %

21
4 | Investing in innovation, technical expertise (knowledge)
and competencies (behavior)
100 most innovative companies,
2011 by industry, %
7%
9%
11%
13%
14%
0% 5% 10% 15%
Telecommunication
equipment
Consumer products
Computer hardware
Chemicals
Semiconductors & electronic
components
Kemira innovation success stories
• Higher packaging quality with reduced raw
material consumption through Kemira’s
Fennobind and Fennobond
• Kemira’s friction reducers enable the
same amount of shale gas production with
less pumping horsepower involved
Source: Forbes
Aiming to become one of the most innovative companies in the world

22
Increasing R&D spend on
differentiated products
• Targeting to double innovation driven
sales* from 5% in 2012 to ~10% of
total sales in 2016
• R&D expenses-to-sales for
differentiated products increasing to
over 4% (Kemira total 1.7% in 2012)
• 70% of the patent portfolio has
been renewed since 2008
*Sales from new products or existing products for new
applications launched within the previous 5 years

23
Delivering EUR 2.6 – 2.7 billion revenue
with EBITDA margin of 15% in 2016
We will focus on
paper, oil & gas,
mining and water
treatment
We leverage mature
markets and expand
in selected emerging
markets
We target
above-the-market
growth
We invest in
innovation,
expertise and
competencies
43
21
BUSINESS
INNOVATIONGEOGRAPHY
GROWTH

24
Petri Helsky, President | Paper segment
The market
leader gets
stronger
The market leader gets stronger | Petri Helsky | April 23, 2013 |

25
43
21
Targeting above-the-market growth in wet-end
chemistry
The only global player
dedicated to pulp and
paper
Mature markets
remain important
– increasing focus on
China, Indonesia and
Brazil
Growing in packaging &
board and tissue – the most
attractive long-term
prospects
Improving customers’
raw material utilization,
end-product quality and
process efficiency
BUSINESS
INNOVATIONGEOGRAPHY
GROWTH

26
Global leader in wet-end chemistry, with
a strong position in pulp
#1 Paper & Pulp in EMEA
#2 Pulp in South America
#2 Paper in China
and Indonesia
#2 Paper & Pulp in NAFTA
• Innovation driven growth in mature markets (R&D hubs in EMEA and NA)
• Superior technical know how and local investments driving growth in China and
Indonesia (R&D hub in China)
• Strong position in pulp further supported by project specific investments
• Paper management relocating to Hong Kong as of September 1, 2013

27
1,5 1,7 1,9 2,0 2,1 2,2
0,9
1,0
1,1
1,8
2,0
2,3
1,5
1,6
1,8
2012 2016 2020 2012 2016 2020
Defoamers, biocides and other wet-end process chemicals
Demand for sizing and strength
chemicals is growing fastest globally
Pulp and paper industry trends
increasing chemical demand:
• Increased use of recycled fibres
• Hardwood replacing softwood in virgin
pulp
• Lightweighting of packaging and
board grades
• Higher filler loads in graphic papers
• New digital printing methods
• Lower water / energy consumption
Market size, EUR billion (CAGR: 2.4%)
GAGR
Sizing and strength
Miscellaneous commodity chemicals
3.5%
2.0%
3.0%
1.3%
2.0%
Bleaching chemicals
Polymers

28
Differentiated products expected to grow
substantially above the market
Differentiated products (sizing, strength and
wet-end process chemicals)
• Technology leader in sizing and strength
chemicals
• Backward integration in all relevant sizing
technologies (AKD, ASA, rosin)
• Broad know how and expertise in the application
of retention and water treatment chemicals
• Innovation partner for paper producers
Commodity products (mainly bleaching chemicals)
• Focus on key customers and pulp mills where
chemical supply is fully integrated
(Chemical island)
• Dedicated manufacturing facilities that operate at
capacity
380
410
440
470
500
2010 2011 2012
100
200
300
400
500
600
2010 2011 2012
Revenue*, EUR million
*) Including EUR -54 million impact of divestments
CAGR:+7%

29
Technology and market leader in paper wet-end
chemistry
Electricity
Sodium chloride
(salt)
Crude tall oil
Cationic monomer
Acrylonitrile
Acrylic acid
Olefins
Fatty acids
Maleic anhydride
Sulfur
Tall oil rosin
AKD Wax
Isomerized olefins
Acrylamide
Sodium chlorate
Hydrogen
peroxide
Polymers
Defoamers
Coagulants
Biocides
Sizing
Strength Additives
Surface additives
Colorants
Sulfuric acid
Pulping
Bleaching
Retention
Wet-end process
control
WQQM
Sizing
Strength
Surface treatment
Coloring
Pulp
Packaging and
board
Printing and
writing
Tissue
All the major
global paper
and pulp
producers
Value chain part covered by Kemira
RAW
MATERIALS
INTERMEDIATES PRODUCTS APPLICATIONS
CUSTOMER
INDUSTRIES CUSTOMERS

30
Our innovations enable pulp &
paper producers to improve
operational efficiency and
product quality
Targeting innovation driven sales of EUR 150
million in 2016
FennoBind (surface additive): Innovative alternative to
synthetic binders for cost savings, better printability and less
dependency on oil based chemistry
Fennoclean PFA: Chlorine and bromine free microbial
control program for tissue production
FennoBond: Reduced raw material spend by improving
performance of packaging material …10,000
miles later

31
Targeting above-the-market growth in wet-end chemistry
The only global player
dedicated to pulp and
paper
Mature markets remain
important – increasing
focus on China,
Indonesia and Brazil
Growing in packaging &
board and tissue – the
most attractive long-term
prospects
Improving customers’
raw material utilization,
end-product quality and
process efficiency
43
21
BUSINESS
INNOVATIONGEOGRAPHY
GROWTH

32
Randy Owens, President | Oil & Mining segment
A growing
technology
leader
A growing technology leader | Randy Owens | April 23, 2013 |

33
43
21
Targeting above-the-market growth
Extracting & Processing
Application knowledge
Declining reserves &
increasing water usage
Mature markets,
Middle East,
Africa and South America
Drilling, stimulation,
cementing (upstream)
Selected core ores
Organic growth supported
by selective M&A
investments
Shorten innovation cycle
to meet most urgent
customer challenges
Driving yield & process
efficiency
BUSINESS
INNOVATIONGEOGRAPHY
GROWTH

34
Strong market growth across all product lines
• High oil price spurs demand for identifying
new sources
• Global growth of shale gas and wet shale
• Declining ore assays require improved
processing
• Increasing environmental pressure which
increases demand for waste water
treatment
3,1 3,6
4,3
2,0 2,4 2,9
4,3
5,1
6,1
2012 2016 2020 2012 2016 2020
Polymers Defoamers, biocides
and other process
chemicals
Miscellaneous
commodity
products

35
Application knowledge drives faster than market growth
• Proven track record of substantially
exceeding market growth
• Succesful transition from product
driven to applications driven
business model
• Innovation driving growth and
enabling entry to new applications
• Fast entry into shale gas – leading
position in North America
• Expanding position in wet shale and
EOR
Differentiated product lines
150
170
190
210
230
250
2010 2011 2012
A growing technology leader | Randy Owens | April 23, 2013 | 35
CAGR:9%

36
Focusing on the mature markets as well as fast growing
Middle East, Africa and South America
EMEA
EU, North Sea,
Africa & Middle East
Upstream and EOR*
Copper, gold, nickel &
iron ore
NAFTA
US & Canada
Upstream, EOR* and unconventional sources
Iron ore & minerals
South America
Brazil, Chile, Peru & Argentina
Upstream, deep water and EOR*
Iron ore, copper & gold
APAC
Selective approach
in China and
Indonesia
Upstream
Copper & iron ore
Selected M&A to support growth
*Enhanced oil recovery

37
Acrylonitrile
Acrylic acid
Various monomers
Miscellaneous
specialty chemicals
and commodities
Acrylamide Polymers
Dispersants &
Antiscalants
Biocides
Emulsifiers
Defoamers
Coagulants
Formulations
Friction Reduction
Formation & Well
Scale Control
Asset integrity
Microbial Induced
Corrosion
Enhanced Oil
Recovery
Drilling muds
Concentrate
thickening
Mineral slurry
preservation
Mining processes
Scale Control
Pumpers
Oil & Gas operators
Service companies
Mine operators
Winning market share with competitive combination of
innovation chemicals and application knowledge
RAW MATERIALS INTERMEDIATES APPLICATIONS CUSTOMERSPRODUCTS

38
KemGuard® Detectable Scale
Inhibitor:
Squeeze life optimization in North
Sea operation providing:
• cost reduction to operation
associated with re-squeezing
• reduction of scale inhibitor required
KemFlow® Friction Reducer:
Cost savings and reducing water
use in hydraulic fracturing.
• savings of EUR 1.2 million per well
in trucking & disposal costs
• reduced the amount of fresh water
required at the site
KemPel™ Organic Binder:
Lowers silica content in iron ore
pellets
• custom formulated to fit to
customer’s iron ore and pelletization
process
• increased throughput achieved with
lower silica and moisture in pellet
Targeting innovation driven sales of EUR 100 million in 2016
Stimulation & Production
Tagged Antiscalants
Biodegradable Antiscalants
Hydraulic fracturing
High performance polymers for
harsh conditions
Metals mining processing
Polymers as pelletizing aids
Polymers as rheology modifiers

39
Ongoing efficiency
improvements safeguarding
profitability
• Increasing plant utilization and timely
capacity expansion
• Increasing sales efficiency
(sales per person)
• Faster new product commercialization
• Simplify work processes and
organizational design

40
Capturing above-the-market growth as a growing
technology leader
Extracting & Processing
Application knowledge
Declining reserves &
increasing water usage
Mature markets,
Middle East,
Africa and South America
Drilling, stimulation,
cementing (upstream)
Selected core ores
Organic growth supported
by selective M&A
investments
Shorten innovation cycle
to meet most urgent
customer challenges
Driving yield & process
efficiency
43
21
BUSINESS
INNOVATIONGEOGRAPHY
GROWTH

41
Municipal &
Industrial
turnaround
Municipal & Industrial turnaround | Wolfgang Büchele | April 23, 2013 |

42
Continuous efficiency improvement in all segments is the
key enabler for successful strategy implementation
Additional efficiency improvement measures
initiated to compensate for the cost inflation
• Municipal & Industrial turnaround (Wegener)
• Further optimization of production assets
(Löffelmann)
• Consolidation of European back-office functions
(Salminen, Löffelmann)
• Lean operation (Löffelmann)
– Stringent complexity reduction and adequate
management
10% EBIT margin
achieved through
”Fit for Growth”
EUR 60 million
savings
Kemira total fixed costs approximately 25% of revenue

43
Municipal & Industrial - improving
profitability and maximizing cash
Broad and proven portfolio of
commodity products for basic
municipal and industrial water
treatment and sludge treatment
Ongoing structural profitability
improvement through
manufacturing footprint, customer
base and process optimization

44
Acrylonitrile
Sulfuric acid
Hydrochloric acid
Aluminium hydrate
Iron ore
Pickling liquor
Copperas
Acrylamide Polymers
(EPAM, DPAM)
Al Coagulants
Fe Coagulants
Antiscalants
Biocides
Defoamers
Raw water
treatment
Wastewater
treatment
Sludge
treatment
Advanced
water treatment
Direct sales
Distributor/
reseller
Service
companies
Municipalities
Private
operators
Industrial
customers
Technology and market leader in raw and waste
water as well as sludge treatment
• The only major supplier producing major water treatment chemicals, polymers and coagulants – thereby enabling
comprehensive application support
• Cost competitiveness through backward integration into virgin raw materials
• 60-70% of sourced raw materials are recycled utilizing waste streams from industrial producers, providing an
additional cost advantage
RAW
MATERIALS
INTERMEDIATES PRODUCTS APPLICATIONS SALES
CHANNEL
CUSTOMER

45
Commodity product lines expected to grow, but slightly
slower than the market
2,6 3,0 3,4
1,6 1,8 1,9
3,4
3,8
4,4
2012 2016 2020
9,2%
7,1%
6,2%
0
150
300
450
600
750
2010 2011 2012
Demand drivers for raw and waste water as well as sludge treatment chemicals:
• Legislation and regulatory enforcements determine required treated water and sludge quality standards
• Water reuse is most cost efficient solution to meet the increasing water demand
GAGR
Coagulants
Operative EBIT %
Antiscalants, biocides, defoamers, miscellaneous commodity chemicals
3.2%
2.8%
3.3%
M&I revenue and operative EBIT-%
EUR million
Polymers
644
665 687

46
Q1 operative EBIT following typical seasonality pattern
During summer season coagulants demand is higher than during winter
Profitability turnaround aims to increase M&I cross-cycle operative EBIT-% to 10%
3,5%
6,9%
8,6%
3,6%
5,2%
Q112 Q212 Q312 Q412 Q113
M&I’s business seasonality
(operative EBIT, %)
6,8%
5,3%
8,0%
5,0%
Q111 Q211 Q311 Q411

47
Additional cost savings measures have been initiated in
line with M&I’s sharpened strategy
Targeted M&I operative EBIT-% with
“Fit for Growth”
Operative EBIT-% target for the M&I with
additional measures
9%
Headcount reduction
Closure of 9 sites and 2 production plants,
1 site under review
Manufacturing cost and energy savings
Disposal of under performing businesses
(e.g India)
SKU reduction
>10%
Enhanced customer-to-plant allocation
Fixed cost savings and continued site
network streamlining
Disposal of underperforming miscellaneous
product lines
R&D focus in–line with strategy
New service levels by customer segmentation
Sales to new applications (e.g membranes)
EUR 8 million of EUR 22 million
savings target achieved

48
2016
Revenue
EBITDA margin
Gearing
EUR 2.6 – 2.7 billion
15%
below 60%
Becoming industry and
technology leader in
chosen target markets in 2020
• Targeting above-the-market growth
• Maximizing cash flow generation with continuous
efficiency improvements

49
APPENDIX
Appendix | April 23, 2013 |

50
Good balance between sales and raw material prices
-150
-100
-50
0
50
100
150
200
Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
2007 2008 2009 2010 2011 2012 2013
Brent oil, USD Sales price* Variable costs*
*) 12-month rolling change vs previous year, meur, excl. Tikkurila and Pigments
Kemira sales prices vs variable costs

51
Operative EBIT Q1 2013 vs Q1 2012
Q1 2012 Sales
volumes
Sales prices Variable
costs
Fixed costs Currency
impact
Others, incl.
acquisitions
and
divestments
Q1 2013
-6.16.2 -4.2 4.0 -1.0 4.7 42.238.6

52
”Fit for Growth” will improve EBIT
by EUR 60 million in 2014
• Cost savings impact in operative
EBIT in Q1 2013 was EUR 9 million
– EUR 3 million impacted variable costs
– EUR 6 million impacted fixed costs
• Expected cost savings impact in
operative EBIT 2013 is EUR 50 million
• Expected cost savings impact in
operative EBIT 2014 EUR 60 million
”Fit for Growth” status Q1 2013, EUR million
50
60
10
9
0
10
20
30
40
50
60
70
Savings impact
2012
Savings impact
2013
Savings impact
2014
Expected savings Realized savings

53
41
30
2 4
10
0
15
30
45
Severance payments and
external services 2012
Asset write-downs 2012 Severance payments and
external services 2013
Asset write-downs 2013
Realized restructuring charges Expected restructuring charges
”Fit for Growth” requires EUR 85 million in
restructuring costs
• EUR 2 million booked in Q1 2013
– In 2012, restructuring charges amounted to EUR 71 million, of which EUR 41 million related to
severance payments and external services and EUR 30 million to asset write-downs
• Total non-recurring severance payments and external services
approximately EUR 45 million
• Total non-recurring asset write-downs approximately EUR 40 million
EUR million

54
Fixed costs are approximately 25% of revenues
• Fixed costs includes personnel
expenses, maintenance cost and leases
• Expected ”Fit for Growth” savings
EUR 50 million in 2013
• Efficiency improvements and operating
leverage compensating the annual cost
inflation of around 3%
• TOP 10* raw materials account for
45% of raw material spend
Kemira cost breakdown
EUR million
0
250
500
750
1 000
1 250
1 500
1 750
2 000
2010 2011 2012
Raw materials Logistics Energy Fixed costs
*) From 1 to 10: Acrylic Acid, Cationic monomer, Acrylonitrile, Fatty acid, Petroleum solvents, Propionic acid, Aluminium Hydrate, Sodium hydroxide, Sulphuric acid, Hydrochloric acid

55
Key ratios
• Net debt decreased due to EUR 178 million proceeds received from the divestments of food and
pharmaceuticals businesses and Kemira’s shares in JV Sachtleben
EUR million, except key ratios and personnel Mar, 31 2013 Dec, 31 2012
Capital employed* 1,596 1,673
ROCE, %* 2% 3%
Equity ratio, % at period-end 50% 51%
Gearing, % at period-end 30% 42%
Net debt 357 532
Number of personnel 4,662 4,857
*12-month rolling average (ROCE, % based on the reported EBIT)

56
Cash flow statement
EUR million Q1 2013 Q1 2012 FY 2012
Operative EBITDA 63.5 62.8 249.4
Change in net working capital -4.3 -42.6 -21.1
Cash flow from operations 40.3 10.4 176.3
Capital expenditure -29.0 -19.4 -134.1
Other investing activities 178.6 0.9 29.6
Cash flow after investing activities 189.9 -8.1 71.8

57
Creating shareholder value
• ”Fit for Growth” program
• New organization fosters growth in high margin businesses
• Strict cash flow management
• Leverage mature markets with existing strengths
• Well established position in US Oil and Gas markets, especially in shale gas
• Packaging and Board, as well as Tissue driving growth in Asia
• Excellent funding position
• Relevant financial assets
• M&A possible also short term, if profitability and synergy criteria are all met
• Strong focus on improving shareholder returns
• Stable dividend yield
Substantial earnings
improvement potential
Organic growth
Strong balance sheet

Where water
meets chemistry™

Kemira Q1 2013 result presentation

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Kemira Q1 2013 result presentation