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") issues senior unsecured green notes of EUR 200 million (the "Notes"). 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 per cent., and the issue price of the Notes is 99.570 per cent. The Notes were allocated to both Finnish and foreign investors.

"We are delighted with the trust and interest shown by investors in Metsä Board's first green bond. This arrangement extends the maturity of our financing and supports our strategy to grow in fibre-based packaging materials and renew our industrial operations. It also contributes to the achievement of our ambitious sustainability targets for 2030," comments Henri Sederholm, CFO of Metsä Board.

Metsä Board will submit an application to have the Notes listed on the list of sustainable bonds of Nasdaq Helsinki Ltd.

Metsä Board intends to use the net proceeds of the Notes issue for financing or refinancing eligible green projects or assets, or otherwise in accordance with Metsä Group's Green Finance Framework (the "Framework"), established in 2019 and updated in July of 2024.

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

METSÄ BOARD CORPORATION