Metsä Board Corporation’s directed share issue without consideration for the payment of the rewards under the incentive scheme for the performance period 2021–2023

Metsä Board Corporation Stock Exchange Release  Other information disclosed according to the rules of the Stock Exchange 8 February 2024 at 12:55 EET

The Board of Directors of Metsä Board Corporation ("the Company") has today decided on a directed share issue without consideration for the payment of the rewards under the Company’s long-term incentive scheme for the performance period 2021–2023 based on the authorisation to the Board of Directors granted by the Annual General Meeting on 23 March 2023.

In the share issue, a maximum of 300,000 series B shares held by the Company may be issued to 26 key employees included in the incentive scheme in accordance with the terms and conditions of the scheme. No new shares will be issued under the scheme and the scheme will therefore not have a dilutive effect. Prior to the directed share issue, the Company holds a total of 701,215 series B shares as treasury shares, of which at least 401,215 will remain in the possession of the Company after the directed share issue.

The exact number of series B shares to be issued will be confirmed by 14 March 2024 at the latest and will be published in a separate stock exchange release in connection with assigning the shares by 15 March 2023 at the latest.

Further information on Metsä Board’s remuneration and incentive schemes is available at: https://www.metsagroup.com/metsaboard/investors/corporate-governance/compensation/

METSÄ BOARD CORPORATION