Auditors
Internal Auditing
Insider Guidelines

Auditors

The shareholders at the AGM annually elect one or two auditors for Stora Enso. The Financial and Audit Committee monitors the auditor selection process and gives its recommendation as to who should serve as auditor to the Board and to the shareholders at the AGM. The auditor(s) shall be an authorised public accounting firm or firms, which then appoint(s) the auditor responsible.

Internal Auditing

Stora Enso has a separate internal auditing organisation. It independently appraises the adequacy and effectiveness of systems, internal controls and accounting.

Internal Auditing reports its findings to the management, the external auditors and the Financial and Audit Committee. The head of Internal Auditing reports to
the CFO on a functional basis, to the CEO, and has direct access to the Chairman of the Financial and Audit Committee.

Internal Auditing conducts regular audits at major mills, subsidiaries and other Company units.

Insider Guidelines

The Company complies fully with the insider guidelines of the Helsinki Stock Exchange.

The Company’s internal insider guidelines are published and regularly distributed throughout the organisation. The Company expects all of its employees to act as required of an insider. All information that relates to the Company’s present and future business operations is expected to be kept strictly confidential.

The Company’s insider register is publicly available and is maintained by the Finnish Central Securities Depository.

Permanent insiders are members of the Board, the CEO and Deputy CEO, and the auditors. The CEO has decided that other permanent insiders shall be the members of the Management Group and nominated persons in legal, financial, accounting, R&D, communications and investor relations functions.

Persons who participate in the development and preparation of a project, including mergers or acquisitions, are considered project-specific insiders. A separate project-specific insider register is maintained by the Company when considered appropriate by the General Counsel or his or her Deputy.

During the closed period insiders are not allowed to trade in the Company’s securities. The period starts two weeks prior to the date when the results of a reporting period are announced. The dates are published in the financial calendar at www.storaenso.com/investors.