Forestry company Tornator has updated its Green Finance Framework and received the highest possible Second Party Opinion, “Dark green,” by S&P’s Shades of Green. The same rating was also awarded to Tornator’s previous framework published in 2023.

There are no major changes in the framework and its Use of Proceeds criteria. The framework describes Tornator’s operations and objectives related to responsible, climate‑friendly forestry practices. In addition to double certification (FSC®* and PEFC™), Tornator is committed to achieving the targets of its Climate and Biodiversity Programmes extending to 2030, as well as to various measures promoting overall corporate responsibility.

For several years, all Tornator’s long‑term financing has been labelled green, and Tornator intends to continue this practice in the future.

SEB acted as advisor for Tornator’s updated Green Finance Framework.

In connection with the update, Tornator is also publishing the presentation materials from its Capital Markets Day, as well as the annually published Green Finance Investor Letter for 2025. The Investor Letter has been prepared based on the previous framework but it also meets the reporting requirements of the new framework.

For further information:  CFO Antti Siirtola, tel. +358 40 773 0975

www.tornator.fi/en

Attachments: 

Green Finance Framework 2026

S&P Second Party Opinion 2026

Green Finance Investor Letter 2025

Capital Markets Day presentation (April 2026)

*FSC license codes: Finland FSC‑C123368, Estonia FSC‑C132610, Romania FSC‑C132426

Artikkeli Tornator publishes an updated Green Finance Framework – Capital Markets Day -materials also available julkaistiin ensimmäisen kerran Tornator.

Annual Report 2025

For further information, please contact:

Antti Siirtola, CFO, +358 40 773 0975, firstname.lastname(@)tornator.fi

Tuija Luukkanen, Corporate Responsibility Manager, +358 40 502 9062, firstname.lastname(@)tornator.fi

Tornator is a leader in sustainable forestry in Europe. It owns forests in Finland, Estonia and Romania. In 2025, the group’s turnover was approximately €232 million, and the balance sheet value was about €4.0 billion. The group has around 190 employees. Tornator’s own employees, and other companies and their employees working on its forestland, add up to around 1,600 FTE. The owners of the parent company are Finnish, mainly institutional investors. Tornator’s mission is to generate sustainable well-being from forests. www.tornator.fi/en

Artikkeli Tornator’s Annual Report 2025 has been published julkaistiin ensimmäisen kerran Tornator.

Artikkeli Tornator Oyj Financial Statements, Board of Directors' report and Annual report 2025 published julkaistiin ensimmäisen kerran Tornator.

Artikkeli Tornator Grew to a New Level: Group Revenue EUR 232 Million and Balance Sheet EUR 4 Billion – Forest Assets Exceeded 800,000 Hectares julkaistiin ensimmäisen kerran Tornator.

Stock Exchange Release, 19 September 2025 at 4 PM

Artikkeli Tornator secures €450 million bank loan financing arrangement to refinance debt maturing in 2026 and to strengthen investment capacity julkaistiin ensimmäisen kerran Tornator.

Artikkeli Tornator grows and creates value sustainably – Group revenue increased by 23%. Tornator’s vision is to continue balanced growth also in the coming years julkaistiin ensimmäisen kerran Tornator.

We own more than 700,000 hectares of forest in Finland, making us the largest private forest owner in the country. Our forest assets are spread across Finland, but our ownership is strongest in Eastern Finland, where the company was founded.

The Forest is More than Just Raw Material to Us

Tornator’s core business is sustainable forestry. We sell logging rights and always carry out harvesting with respect for forest growth, keeping annual harvest volumes on average below the annual growth rate. We manage our forests with a long-term perspective, in accordance with PEFC and FSC® certifications.

We have protected more than 13,000 hectares of forest and carry out numerous restoration projects each year to support biodiversity and the health of water bodies. In 2024, we restored approximately 560 hectares of peatlands and implemented 35 habitat management projects.

Climate Actions in Our Forests

Each year, our forests sequester as much carbon as the total emissions from all passenger cars in Finland. In addition, we actively increase carbon sequestration capacity through forest management: fertilization, increasing mixed-species stands, and using improved seedling material. In 2024, we planted 8 million seedlings — that’s about half a million new trees every day during the spring season.

Our climate program aims to increase carbon sequestration by 20% by 2030. Combating climate change is concrete work for us, starting at the forest plot level and extending to societal influence. We are, for example, a main partner of WWF.

Forests Belong to Local People

Our forests are open to everyone. They are places for berry picking, hiking trails, hunting grounds, and boat landing sites. We lease our forests to more than 1,500 hunting clubs and maintain 17,000 kilometres of forest roads, serving both forestry operations and local residents as well as holiday travellers.

Our forests also provide employment. Tornator’s direct and indirect employment impact in Finland is around 1,600 person-years. We work closely with over 240 contractor partners, mostly in sparsely populated areas where every job matters.

Forest Ownership is About Actions Today and Promises for Tomorrow

We are a forest owner who makes use of the forest’s economic potential while considering overall responsibility. We provide jobs, grow renewable materials, develop digital forestry solutions, build wind power, and participate actively in restoration projects.

Forest Facts

How much forest is there in Finland?

Almost 86% of Finland’s land area — 26.3 million hectares — is forestry land.

Of this forestry land, just over 75% is forest land, 10% is less productive scrub land, and 12% is nearly or completely treeless wasteland.

Source: Forest Resources by Region | Natural Resources Institute Finland

Who owns forests in Finland?

There are over 950,000 forest properties in Finland.

• Almost 44% of the area is owned by private individuals.
• Metsähallitus, i.e., the Finnish state, owns just over one-third.
• The next largest owner groups are companies (about 7%), estates of deceased persons (about 5%), and jointly owned forests (about 3%).
• Investment funds own less than 1%.

Source: Ownership of Forestry Land by Owner Group | Finnish Forest Centre

Artikkeli Tornator is Finland’s Largest Private Forest Owner julkaistiin ensimmäisen kerran Tornator.

For further information, please contact:

CEO Henrik Nieminen, tel. +358 40 869 7613
CFO Antti Siirtola, tel. +358 40 773 0975

Attachments: CMD presentation material and Green Finance Investor Letter 2024

Artikkeli Tornator’s CMD material and Green Finance Investor Letter for 2024 julkaistiin ensimmäisen kerran Tornator.

Annual Report 2024

For further information, please contact:

Antti Siirtola, CFO, +358 40 773 0975, firstname.lastname(@)tornator.fi

Tuija Luukkanen, Corporate Responsibility Manager, +358 40 502 9062, firstname.lastname(@)tornator.fi

Tornator is a leader in sustainable forestry in Europe. It owns forests in Finland, Estonia and Romania. In 2024, the group’s turnover was approximately €213 million, and the balance sheet value was about €3.8 billion. The group has around 190 employees. Tornator’s own employees, and other companies and their employees working on its forestland, add up to around 1,600 FTE. The owners of the parent company are Finnish, mainly institutional investors. Tornator’s mission is to generate sustainable well-being from forests. www.tornator.fi/en

Artikkeli Tornator’s Annual Report 2024 has been published julkaistiin ensimmäisen kerran Tornator.

Artikkeli Tornator Oyj Financial Statements, Board of Directors’ report and Annual report 2024 published julkaistiin ensimmäisen kerran Tornator.