Boliden: Continued Legal Proceedings with Respect to the 1998 Dam Breach at the Los Frailes Mine in Spain

Regulatory News:

Boliden’s Spanish subsidiary, Boliden Apirsa S.L., is now being sued for approx. EUR 89 million as a part of the legal aftermath of the dam breach accident in Spain in 1998. Claims are also directed towards Boliden BV and Boliden AB but these companies have not yet been served.

The suit is a continuation of the legal processes initiated by Junta de Andalucía (the local government in Andalucía), back in 2002. After the dismissal of the suit on formal grounds by the Supreme Administrative Court, the claim has been initiated in civil court (the district court in Seville) which has been designated as the court that can issue a substantive ruling on the claim.

The suit refers to costs that the Junta de Andalucía alleges it incurred on Boliden Apirsa S.L.’s behalf in conjunction with the clean-up after the dam breach. Junta de Andalucía is claiming compensation both from Boliden Apirsa S.L. which, at the time of the accident, owned and operated the mine and which is subject to liquidation proceedings since 2005. Compensation is also claimed on joint and several basis from Boliden BV and Boliden AB in their capacities as direct and indirect owners of Boliden Apirsa S.L.

Boliden will contest the claim in its statement of defence and Boliden’s opinion is that it will not suffer any significant financial harm as a result of the claims.

For additional background on the matter, please see Boliden’s Annual Reports (including Note 30 of the 2014 Annual Report) and Boliden’s website, www.boliden.com.

For further information, please contact:

Marcela Sylvander, Group Communications, [phone]

Boliden is a metals company with a commitment to sustainable development. Our roots are Nordic, but our business is global. The company’s core competence is within the fields of exploration, mining, smelting and metals recycling. Boliden has a total of approximately 4,900 employees and a turnover of SEK 37 billion. The share is listed on NASDAQ OMX Stockholm, segment Large Cap.

www.boliden.com (http://www.boliden.com)

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For BolidenMarcela Sylvander, [phone]Group Communications