Statement on changed tax conditions in Finland

18 Aug 2025 10:50 CEST

The Finnish government has submitted proposals for changed tax levels for mining
activities and partly related energy taxes. As part of the decision-making
process, Boliden has submitted describing the consequences for the investment
climate as well as European raw material supplies in the event that the
currently proposed levels were to come into force. In total, the new tax levels
are estimated to mean 20-30 MEUR in annual increased costs for the Kevitsa
copper and nickel mine, most of which is attributable to a quadrupling of the
recently introduced Finnish mining tax. Boliden's submission also states that
the Finnish government's proposal is inadequately prepared and that no proper
impact assessments have been made, and that the current proposals should
therefore be withdrawn in their entirety. Both copper and nickel, as well as
cobalt and PGMs, which are also mined in Kevitsa, are designated as critical
metals by the EU.

For further information, please contact:

Klas Nilsson

Director Group Communications

+46 70453 65 88

Klas.Nilsson@boliden.com

Metals for generations to come

Boliden's vision is to be the most climate-friendly and respected metal provider
in the world. We are Europe's producer of sustainable metals and, guided by our
values care, courage and responsibility, we operate within exploration, mines,
smelters and recycling. We are around 8,000 employees and have annual revenues
of approximately SEK 90 billion. The share is listed in the Large Cap segment of
NASDAQ Stockholm.

www.boliden.com

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