Metso's Interim Review January 1 - March 31, 2014. Presentation. Read more: www.metso.com/investors

1. Matti Kähkönen, President and CEO
Harri Nikunen, CFO
April 24, 2014

2. © Metso© Metso
Forward looking statements
It should be noted that certain statements herein which are not historical facts, including, without limitation,
those regarding expectations for general economic development and the market situation, expectations for
customer industry profitability and investment willingness, expectations for company growth, development
and profitability and the realization of synergy benefits and cost savings, and statements preceded by
”expects”, ”estimates”, ”forecasts” or similar expressions, are forward-looking statements. These
statements are based on current decisions and plans and currently known factors. They involve risks and
uncertainties which may cause the actual results to materially differ from the results currently expected by
the company.
Such factors include, but are not limited to:
1) general economic conditions, including fluctuations in exchange rates and interest levels which
influence the operating environment and profitability of customers and thereby the orders received by
the company and their margins
2) the competitive situation, especially significant technological solutions
developed by competitors
3) the company’s own operating conditions, such as the success of production, product development and
project management and their continuous development and improvement
4) the success of pending and future acquisitions and restructuring.
2

3. © Metso© Metso
1. Quarterly highlights
2. Metso value creation
3. Financial performance
4. Outlook and guidance
Content
3

4. © Metso© Metso
• We are committed to taking personal
responsibility for our own safety and
for the safety of others
• All incidents can be prevented
• Our LTIF has been trending down
Safety is our top priority
4
LTIF = Lost time incident frequency (per million working hours)
NMF= Near miss and risk observation frequency (per million working hours)
Target: LTIF less than 1
Long term occupational safety target: LTIF 0
Our lost time incident frequency in 2013 was 4.2
0
50
100
150
200
250
300
350
400
0
2
4
6
8
10
12
14
16
Lost time incident frequency(LTIF)
Nearmiss and riskobservationfrequency(NMF)

5. Q1/2014 highlights
Matti Kähkönen
President and CEO

6. © Metso© Metso
• Oil and gas demand remained strong; construction is recovering
• Services business picked up sequentially
• Demand for mining equipment and projects seems to be bottoming
out
• Profit improvement program proceeded according to plan
• Fluctuation of currencies had a significant impact on net sales and
order intake
• Orders received totaled EUR 875 million (EUR 1,031 million), of
which EUR 545 million (EUR 589 million) were services orders
• Net sales totaled EUR 817 million (EUR 915 million), of which
services accounted for EUR 438 million (EUR 466 million)
• EBITA before non-recurring expenses was EUR 88 million and
10.7% of net sales (EUR 103 million and 11.2%)
• In April, Metso Board rejected approach by The Weir Group
Quarterly highlights
6
Figures in the brackets refer to same period last year unless otherwise stated

7. © Metso© Metso
Order intake
Metso
7
Automation Mining and construction
Metso
558 550 563
637
767
826 850 838
1,117
1,466
1,055
828
1,168
1,100
965 982
1,031
968
825
885 875
0
200
400
600
800
1,000
1,200
1,400
1,600
2009 2010 2011 2012 2013 2014
EUR million
Services ordersreceived Capital ordersreceived
2,307
3,281
4,466
4,215
3,709
0
1,000
2,000
3,000
4,000
5,000
2009 2010 2011 2012 2013
EUR million
Services ordersreceived Capital ordersreceived
155
134 129
159
177 177 174 167
220 225
179
197
224 225
191
206
254
239
200
209
252
0
50
100
150
200
250
300
2009 2010 2011 2012 2013 2014
EUR million
Services ordersreceived Capital ordersreceived
414 423 449
491
608
660 686 688
914
1,263
886
651
964
891
787 794 786
743
635
691
624
0
200
400
600
800
1,000
1,200
1,400
2009 2010 2011 2012 2013 2014
EUR million
Services ordersreceived Capital ordersreceived

8. © Metso© Metso
Order intake by country
8
• Orders from the US and Canada were significantly higher
• Orders from China grew in Mining and Construction
• No big project orders from South America
EUR million Q1/2014 Q4/2013 Change %
% of all
orders
USA 135 114 19 15
China 75 51 47 9
Brazil 70 94 -24 8
Canada 54 27 100 6
Australia 48 45 7 5
Finland 38 42 -11 4
Chile 37 135 -72 4
India 35 25 40 4
Russia 30 27 11 3
Sweden 27 23 17 3

9. © Metso© Metso
2,902 3,018
3,672
4,282
3,858
0
1,000
2,000
3,000
4,000
5,000
2009 2010 2011 2012 2013
EUR million
Services net sales Capital net sales
735 746
685
736
647
726 748
898
744
871 901
1,156
959
1,1161,075
1,132
915
988
937
1,018
817
0
200
400
600
800
1,000
1,200
1,400
1,600
2009 2010 2011 2012 2013 2014
EUR million
Services net sales Capital net sales
Net sales
Metso
9
Automation Mining and construction
Metso
177 180
152
166
146
156 151
198
165
176
185
244
182
232
211
233
184
207 214
249
186
0
50
100
150
200
250
300
2009 2010 2011 2012 2013 2014
EUR million
Services net sales Capital net sales
568 581
540
579
509
584 609
717
592
711 736
928
787
899 882
924
744
800
742
784
631
0
200
400
600
800
1,000
2009 2010 2011 2012 2013 2014
EUR million
Services net sales Capital net sales

10. © Metso© Metso * Before non-recurring items
EBITA* and EBITA* margin
10
EBITA-% target range
EBITA* % Q1/2014 Q1/2013
Mining and Construction 11.4 12.3 Stable margins, lower volumes
Automation 10.5 8.8 Stable margins, cost savings
Metso total 10.7 11.2 Reasonably good result in this market environment
292
328
399
486 496
10.1
10.9 10.9
11.4
12.8
0
2
4
6
8
10
12
14
0
100
200
300
400
500
600
FY FY FY FY FY
2009 2010 2011 2012 2013
%
EBITA * EBITA* %
80
65
89
59 61
74
86
107
67 75
107
149
83
136 129
138
103
118
129
147
88
10.8
8.7
13.0
8.0
9.4
10.2
11.6 11.9
9.1
8.7
11.9
12.9
8.7
12.2 12.0 12.2
11.2
11.9
13.7
14.4
10.7
0
2
4
6
8
10
12
14
16
18
0
50
100
150
200
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
2009 2010 2011 2012 2013 2014
%EUR million
EBITA * EBITA* %

11. © Metso© Metso
• Significant shareholder value has been created
through the demerger
• Both Metso and Valmet share prices have shown positive
development
• We will continue leveraging our
• unrivaled services presence and capabilities
• strong global market positions to capitalize on growth
opportunities
• competitive advantage through a unique combined offering
• ongoing profit improvement and capital efficiency programs
• strong financial track record
Metso value creation
11

12. © Metso© Metso
Our value creation platform
12 * Before taxes
 Well-positioned to benefit from
long-term growth trends
 Global footprint, with leading
positions in all the markets we
serve
 Services-driven business
model
 Competitive advantage
through unique combined
offering
 Strong financial track record
to support superior performance
Assets Strategy Targets
≥ 30% ROCE % *
11-16%
EBITA
margin
> 10%
p.a.
Services
sales
> Market
growth
Sales
growth
Services
Technology
offering
Growth
countries
Operational
excellence
People and
leadership

13. Financial performance
Harri Nikunen, CFO

14. © Metso© Metso
Group key figures
14
* Before non-recurring items
** Q1/2014 includes non-recurring expenses of EUR 6.6 million and FY 2013 of EUR 54 million
EUR million Q1/2014 Q1/2013 Change % 2013
Orders received 875 1,031 -15 3,709
without currency impact -8
Services orders received 545 589 -7 2,038
without currency impact 2
Net sales 817 915 -11 3,858
without currency impact -3
Services net sales 438 466 -6 1,976
% of net sales 54 51 51
EBITA * 88 103 -15 496
% of net sales 10.7 11.2 12.8
EBIT ** 76 98 -22 423
Earnings per share, EUR 0.28 0.38 1.59

15. © Metso© Metso
103
88
-36
5
17 -1
0
20
40
60
80
100
120
Q1/2013
EBITA*
Volume Margin S,G&A Others Q1/2014
EBITA*
EUR million
Stable margins and visible cost savings
15
* Before non-recurring items

16. © Metso© Metso
Balance sheet key figures
16
• Our capital structure and financial position remains strong
Q1/2014 Q1/2013 2013
14.9 18.2 19.0
14.3 17.0 18.6
42.8 32.7 41.6
114 84 105
48.9 49.4 47.0
1.2 0.8 1.0
6.9 7.7 9.2Interest cover (EBITDA)
Return on equity (ROE), %
Return on capital employed (ROCE) before
taxes, %
Gearing at the end of the period, %
Cash conversion, %
Debt to capital, %
Net debt / EBITDA
* All figures annualised but cash conversion

17. © Metso© Metso
Indebtedness and net working capital
17
Net working capitalNet debt and gearing
377
370
491
458
28.4
32.7
41.6
42.8
0.0
10.0
20.0
30.0
40.0
50.0
60.0
0
100
200
300
400
500
600
2012 Q1/2013 2013 Q1/2014
%EUR million
Net debt Gearing
702
765
651 652
16.4
18.0
16.9
17.1
10
12
14
16
18
20
0
100
200
300
400
500
600
700
800
2012 Q1/2013 2013 Q1/2014
%
EUR million
Net working capital, EUR NWC, as % of net sales

18. © Metso© Metso18
* Before non-recurring items
** Excluding cash and other non-operative balance sheet items,
annualized
Mining and Construction key figures
Q1/2014 vs. Q1/2013
• Margins have held up well and fixed costs are under control
• Decline in net sales had a negative impact on results
EUR million Q1/2014 Q1/2013 Change % 2013
Orders received 624 786 -21 2,855
without currency impact -12
Services orders received 413 471 -12 1,616
Net sales 631 744 -15 3,070
without currency impact -7
Services net sales 347 383 -10 1,579
% of net sales 55 52 51
EBITA * 72 91 -21 401
% of net sales 11.4 12.3 13.1
Return on operative capital
employed **
19.0 25.3 25.1

19. © Metso© Metso
Mining and Construction
Rolling 12-month net sales and EBITA%*
19
* Before non recurring items
0
2
4
6
8
10
12
14
16
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
2007 2007 2008 2008 2009 2009 2010 2010 2011 2011 2012 2012 2013 2013 2014
%
EUR million
Services net sales, rolling 12 months Capital net sales, mining, rolling 12 months
Capital net sales, construction, rolling 12 months EBITA% *, rolling 12 months

20. © Metso© Metso
* Before non-recurring items
** Excluding cash and other non-operative balance sheet items, annualized
Automation key figures
20
Q1/2014 vs. Q1/2013
• Net sales up 6% and services 12% with constant currencies
• Lower fixed costs
• 5% higher order backlog
EUR million Q1/2014 Q1/2013 Change % 2013
Orders received 252 254 -1 902
without currency impact 4
Services orders received 132 118 12 422
Net sales 186 184 1 854
without currency impact 6
Services net sales 91 83 10 398
% of net sales 49 45 47
EBITA * 20 16 22 116
% of net sales 10.5 8.8 13.6
Return on operative capital
employed **
26.5 19.9 38.5

21. © Metso© Metso
Automation
Rolling 12-month net sales and EBITA%*
21
* Before non-recurring items
0
2
4
6
8
10
12
14
16
18
0
100
200
300
400
500
600
700
800
900
1,000
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
2007 2007 2008 2008 2009 2009 2010 2010 2011 2011 2012 2012 2013 2013 2014
%
EUR million
Services net sales, rolling 12 months Capital net sales, rolling 12 months EBITA% *, rolling 12 months

22. © Metso© Metso
• Program was announced in autumn 2013
• We are responding to the soft market environment in
mining and adjusting to the new Group structure
• The current scope encompasses headcount
reduction of 1,300-1,400
• Targeted gross savings total EUR 120-130 million
• Completion rate is 60%, targeting full completion by
the end of 2014
• Savings to be fully achieved in H1/2015
Profit improvement program proceeding
according to plan
22

23. © Metso© Metso
Major structural changes in headcount during
2013 and Q1/2014
23
Headcount December 31, 2012 16,612
Acquisitions + 623
Divestments - 326
Headcount after structural changes 16,909
Profit improvement program and other changes - 711
Headcount March 31, 2014 16,198
Reduction in Europe and North America ~ 900
Increase in emerging markets ~ 530

24. Outlook and guidance
Matti Kähkönen
President and CEO

25. © Metso© Metso
Market outlook
55% of net sales
55% service intensity
Current demand:
• Weak for the equipment and
project business
• Services good
20% of net sales
40% service intensity
Current demand:
• Satisfactory for the equipment and
services
22% of net sales
45% service intensity
Current demand:
• Good in oil and gas; satisfactory in
pulp and paper
• Services good
3-6 months market outlook
Equipment Services

Equipment Services
25
Equipment Services
 
Mining Construction Automation

26. © Metso© Metso
Order backlog
26
• Backlog about EUR 300 million lower than a year ago
• 83% of the backlog expected to be recognized as sales during 2014
• Services account for 40% of the backlog for 2014
• Backlog is overall healthy with no major cancellations or delays
1,731
2,506
2,324
2,475
1,927 1,944
0
1,000
2,000
3,000
2010 2011 2012 Q1 2013 2013 Q1 2014
EUR million
Mining and Construction Automation
Deliveries in
2014
Deliveries
after 2014
Deliveries in
2013
Deliveries
after 2013
0
500
1,000
1,500
2,000
2,500
3,000
Order backlog Mar 31, 2013 Order backlog Mar 31, 2014
EUR million

27. © Metso© Metso27
Based on our market outlook, backlog for
2014, current exchange rates and
ongoing cost-efficiency actions, we
estimate that
• our net sales in 2014 will be
somewhat below 2013
• and EBITA margin before non
recurring items for 2014 will be at
around 12%
Guidance for 2014

28. company/metso metsogroup metsoworldmetsoworld metsogroup
www.metso.com