NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, HONG KONG, JAPAN, SINGAPORE OR IN OR TO SUCH OTHER COUNTRIES OR OTHERWISE IN SUCH CIRCUMSTANCES IN WHICH THE OFFERING OF THE NOTES OR THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

Metsä Board Corporation ("Metsä Board" or the "Company") announced its decision to issue senior unsecured green notes of EUR 200 million (the "Notes") on 21 May 2025. The maturity of the Notes is six (6) years and they mature on 28 May 2031. The Notes carry fixed annual interest of 3.875, and the issue price of the Notes is 99.570 per cent.

The Finnish Financial Supervisory Authority has today approved the listing prospectus of the Notes. The prospectus is available in English at https://www.metsagroup.com/metsaboard/investors/financial-information/financial-position/.

Metsä Board will submit an application to have the Notes listed on the list of sustainable bonds of Nasdaq Helsinki Ltd. Admitting the Notes to trading is expected to take place on or about 28 May 2025 under the trading code `METSA310528'.

Danske Bank A/S and Skandinaviska Enskilda Banken AB (publ) act as joint lead managers for the issue of the Notes.

METSÄ BOARD CORPORATION