Nomination Board's proposal to the Annual General Meeting regarding the composition and fees of Rautaruukki's Board of Directors

Rautaruukki Corporation Stock exchange release 29 January 2014 at 9.00am EET Nomination Board's proposal to the Annual General Meeting regarding the composition and fees of Rautaruukki's Board of Directors Rautaruukki's shareholders' Nomination Board is to propose to the Annual General Meeting convening on 18 March 2014 that the number of Board members remains unchanged at seven. The Nomination Board proposes the re-election of Kim Gran, Timo U. Korhonen, Matti Kähkönen, Liisa Leino, Matti Lievonen, Saila Miettinen- Lähde and Jaana Tuominen. The Nomination Board proposes that Kim Gran be elected as chairman of the Board and Matti Lievonen as deputy chairman. It is proposed that the fees of the Board of Directors remain unchanged. The Nomination Board appointed by Rautaruukki's shareholders is to propose to the Annual General Meeting convening on 18 March 2014 that the number of Board members remains unchanged at seven. The Nomination Board proposes the re-election of current members of the Board of Directors, President and CEO Kim Gran, Executive Adviser Timo U. Korhonen, President and CEO Matti Kähkönen, CEO Liisa Leino, President and CEO Matti Lievonen, CFO and deputy CEO Saila Miettinen-Lähde and CEO Jaana Tuominen for a further term of office lasting one year from the 2014 Annual General Meeting until the close of the 2015 Annual General Meeting. More information about members of the Board of Directors is available at www.ruukki.com > Investors > Corporate Governance > Board of Directors. Furthermore, the Nomination Board proposes that Kim Gran be re-elected as chairman of the Board of Directors and that Matti Lievonen be re-elected as deputy chairman. All candidates have consented to election. The Nomination Board proposes that the annual fees of the Board of Directors are: Chairman EUR 72,000 (2013: EUR 72,000) Deputy chairman EUR 44,000 (EUR 44,000) Members EUR 34,000 (EUR 34,000) In addition to the above, Board members are paid an attendance fee of EUR 600 per meeting for Board of Directors' meetings and Board of Directors' committee meetings. The Nomination Board proposes that 40 per cent of the annual fee be paid in the form of Rautaruukki Oyj shares purchased on the market. The shares will be purchased within two weeks of the publication of the company's interim report for the first quarter of 2014. According to the proposal, the Annual General Meeting will resolve to acquire the shares directly on behalf of members of the Board of Directors. This is an acceptable way to acquire Rautaruukki Oyj shares for Board members under applicable insider rules. The Nomination Board also considers that increasing the long-term shareholding of Board members is in the interest of all shareholders. The proposals above are included in the notice of the Annual General Meeting. Kari Järvinen, Managing Director (Solidium Oy), served as chairman of the Nomination Board with Pekka Pajamo, CFO (Varma Mutual Pension Insurance Company) and Jorma Eräkare, Head of Finnish Equities CEFA (Nordea Investment Fund Company Finland Ltd) as members. Kim Gran, Chairman of Rautaruukki's Board of Directors, served as the Nomination Board's expert member. For further information, please contact: Kari Järvinen, Managing Director, Solidium Oy, tel. +358 10 830 8905 Kim Gran, Chairman of Rautaruukki's Board of Directors, tel. +358 10 401 7336 Rautaruukki Corporation Taina Kyllönen SVP, Marketing and Communications Ruukki specialises in steel and steel construction. We provide customers with energy-efficient steel solutions for better living, working and moving. We have around 9,000 employees and an extensive distribution and dealer network across some 30 countries including the Nordic countries, Russia and elsewhere in Europe and the emerging markets, such as India, China and South America. Net sales in 2012 totalled €2.8 billion. The company's share is quoted on NASDAQ OMX Helsinki (Rautaruukki Oyj: RTRKS). www.ruukki.com DISTRIBUTION: NASDAQ OMX Helsinki Main media www.ruukki.com This announcement is distributed by GlobeNewswire on behalf of GlobeNewswire clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Rautaruukki Oyj via GlobeNewswire [HUG#1757701]