Composition of Talvivaara's Nomination Panel and time schedule of its proposals to be made to the AGM

Stock Exchange Release

Talvivaara Mining Company Plc

15 March 2016

Composition of Talvivaara's Nomination Panel and time schedule of its proposals to be made to the AGM

Talvivaara Mining Company Plc's ("Talvivaara" or "Company") Shareholders' Nomination Panel was established in 2013 by the Annual General Meeting. The Nomination Panel prepares proposals for the election and remuneration of the members of the Board of Directors to the General Meeting. Following the annual organizational meeting of the Panel held today, the composition of the Nomination Panel is as follows:

• Kari Järvinen, CEO, nominated by Solidium Oy
• Kari Niskanen, a shareholder of the Company
• Olli Salo, nominated by Seppo Aho, a shareholder of the Company
• Pekka Perä, CEO of Talvivaara, as a shareholder of the Company
• Tapani Järvinen, Chairman of the Board of Directors of Talvivaara
• Solveig Tönroos-Huhtamäki, a member of Talvivaara's Board of Directors and Chairman of the Audit Committee

The organizational meeting of the Nomination Panel elected Kari Järvinen to act as the chairman of the Panel.

According to the charter of the Panel, the Panel shall submit its proposals to the Board of Directors at the latest on 15 March preceding the Annual General Meeting ("AGM") taking, however, into account the meeting and announcement schedules notified by the Company. The Panel's view is that, to be able to prepare well-founded proposals to the AGM, such proposals should be based on as recent information as possible on the future plans of the Company and especially on the status of negotiations between Talvivaara and Terrafame relating to the sale of Talvivaara's mining-related assets to Terrafame. The Panel aims to give its proposals once more clarity for above mentioned matters is available.

Enquiries

Kari Järvinen, Chairman of the Panel, Solidium Oy, Tel. +358 10 830 8905