Metsä Board Corporation Managers’ transactions 18 December 2019 at 12 noon EET Metsäliiton Toimenhaltijain Eläkesäätiö, which is a closely associated party to Metsä Board’s chairman and one member of the Board, has disposed on 13 December 2019 Metsä Board Corporation’s A and B shares. A shares Metsä Board Oyj - Managers' Transactions ____________________________________________ Person subject to the notification requirement Name: Metsäliiton Toimenhaltijain Eläkesäätiö Position: Closely associated person (X) Legal person (1):Person Discharging Managerial Responsibilities In Issuer Name: Hämälä Ilkka Position: Member of the Board Issuer: Metsä Board Oyj LEI: 743700KKB8Q035K38488 Notification type: INITIAL NOTIFICATION Reference number: 743700KKB8Q035K38488_20191218102543_15 ____________________________________________ Transaction date: 2019-12-13 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000640 Nature of the transaction: DISPOSAL Transaction details (1): Volume: 16,070 Unit price: 6.32 EUR Aggregated transactions (1): Volume: 16,070 Volume weighted average price: 6.32 EUR B shares Metsä Board Oyj - Managers' Transactions ____________________________________________ Person subject to the notification requirement Name: Metsäliiton Toimenhaltijain Eläkesäätiö Position: Closely associated person (X) Legal person (1):Person Discharging Managerial Responsibilities In Issuer Name: Hämälä Ilkka Position: Member of the Board Issuer: Metsä Board Oyj LEI: 743700KKB8Q035K38488 Notification type: INITIAL NOTIFICATION Reference number: 743700KKB8Q035K38488_20191218102522_13 ____________________________________________ Transaction date: 2019-12-13 Venue: NASDAQ HELSINKI LTD (XHEL) Instrument type: SHARE ISIN: FI0009000665 Nature of the transaction: DISPOSAL Transaction details (1): Volume: 277,900 Unit price: 5.99 EUR Aggregated transactions (1): Volume: 277,900 Volume weighted average price: 5.99 EUR The notifications relate to share transactions that have been done in connection with the pension fund transferring all its pension liabilities to a third party. The disposals reported above are 16,070 A shares and 277,900 B shares. METSÄ BOARD CORPORATION Further information: Katri Sundström, VP, Investor Relations, tel. +358 10 462 0101 Juhani Pitkänen, Secretary to the Board, Metsä Board, tel. +358 10 465 5240 Metsä Board www.metsaboard.com Metsä Board is a leading European producer of premium fresh fibre paperboards including folding boxboards, food service boards and white kraftliners. Our lightweight paperboards are developed to provide better, safer and more sustainable solutions for consumer goods as well as retail-ready and food service applications. We work together with our customers on a global scale to innovate solutions for better consumer experiences with less environmental impact. The pure fresh fibres Metsä Board uses are a renewable resource, traceable to origin in sustainably managed northern forests. The global sales network of Metsä Board supports customers worldwide, including brand owners, retailers, converters and merchants. In 2018, the company’s sales totalled EUR 1.9 billion, and it has approximately 2,400 employees. Metsä Board, part of Metsä Group, is listed on the Nasdaq Helsinki. Follow Metsä Board: Twitter (https://twitter.com/metsaboard) LinkedIn (https://www.linkedin.co m/company/mets -board) YouTube (https://www.youtube.com/playlist?list=PLF6CD152EF0DA1E61) Instag ram (https://www.instagram.com/metsaboard/)