Metsä Board Corporation, Stock exchange release 29 April 2026 at 12:15 p.m. EEST

The Board of Directors (the "Board") of Metsä Board Corporation ("Metsä Board") has resolved on a share-based incentive scheme (the "Scheme") for key employees of Metsä Board and its subsidiaries (together the "Group"), covering the years 2026-2030. The Board will assess strategic projects and programmes in connection with which the Scheme may be implemented, if the Board separately so decides.

The purpose of the Scheme is to commit key employees to implementing the objectives set by the Board in accordance with the new strategy published by the company on 19 March 2026, to offer them a competitive incentive scheme based on the development of the share price, and to align the interests of shareholders and key employees in order to increase the value of the Group. Under the Scheme, the target group has the opportunity to earn Metsä Board's B shares.

The Board will decide separately on the commencement and length of any possible earning period for each key employee. The earning period will end after a period predetermined by the Board following the achievement of the targets set for the earning period. The lengths and timing of the earning periods may vary between key employees but shall, as a rule, be at least twelve (12) months. The key employee's employment or executive employment relationship must remain in force and the key employee must continue to engage in work throughout the earning period.

The Board will determine the amount of the reward and the targets that are a prerequisite for its payment for each key employee on an earning-period-specific basis. There may be one or more targets as determined by the Board, and the targets may vary between key employees. The reward is based on the development of the share price in a manner separately determined by the Board. The Board will confirm the reward payable to the key employee after the earning period. The Board will decide to what extent the reward is delivered to the key employee in shares. The Board may also decide that the reward is paid entirely in cash. Taxes and statutory social security contributions arising from the reward to the key employee are covered by the cash portion of the reward. The shares paid as a reward are not subject to any restriction period during which such shares could not be sold. The maximum value of the Scheme is five million euros.

The Board will decide separately which key employees of the Group are included in the target group of the Scheme. The target group of the Scheme may comprise a maximum of 25 key employees, including the Corporate Leadership Team. As the Board determines separately both the amount of the reward and the extent to which the reward is delivered in shares, the number of shares to be issued under the Scheme cannot be estimated at this stage.

METSÄ BOARD CORPORATION

Further information:
Jussi Vanhanen, Chair of the Board of Directors, email: jussi.vanhanen@metsagroup.com