Spinnova to write down its Woodspin assets following the inside information announcement (full company release is available on Spinnova's website https://spinnovagroup.com/releases/) stating the finalisation of the strategic review of Woodspin's operations, and the signing of a non-binding term sheet by Spinnova Oyj and Suzano S.A.

In the term sheet between the companies, it was stated that Spinnova Oyj is planning to buy all Woodspin Oy shares held by Suzano S.A. for a consideration of EUR 1 (one euro). Following the finalisation of the transaction, Spinnova will write down the book value of Woodspin, estimated to be at the most EUR 19.4 million, as required by IFRS. In 2024, the book value of Spinnova's share of Woodspin, on Spinnova's balance sheet, totalled EUR 19.4 million as of 31 December 2024.

The transaction would not have a negative cash flow impact on Spinnova.

A possible write down will affect Spinnova's results negatively in 2025. Spinnova has not given financial guidance for 2025.

Woodspin Oy, the exclusive producer and distributor of wood based SPINNOVA® fibre, is a joint venture that is owned by Spinnova Oyj and Suzano S.A., 50% each.