HELSINKI, February 22, 2021-

Ahlstrom-Munksjö Oyj ("Ahlstrom-Munksjö") and Ahlstrom-Munksjö USA Inc have today entered into an intercompany facilities agreement with Spa Holdings 3 Oy (" Spa Holdings 3") and Spa US Holdco, Inc ("Spa US Holdco", and together with Spa Holdings 3, the "Lenders"), under which SPA Holdings 3 makes available to Ahlstrom-Munksjö a term facility of up to EUR 550 million and a revolving facility of up to EUR 270 million and SPA US Holdco makes available to Ahlstrom-Munksjö USA Inc facilities of up to $260 million for the purposes of refinancing existing indebtedness of Ahlstrom-Munksjö and its subsidiaries as required, and for providing Ahlstrom-Munksjö and its subsidiaries financing for its general corporate purposes and working capital requirements (the "Facilities").

The Facilities are made available to Ahlstrom-Munksjö and Ahlstrom-Munksjö USA Inc by the Lenders in all material respects reflecting the terms of the committed senior term facilities and senior bridge facilities obtained by the Lenders from independent third party banks for such purposes, with the exception of a 12 month maturity, customary margin spread and other customary changes for such intercompany loan instrument.

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