Metsä Board Corporation Managers’ transactions 17 March 2020 at 12 noon EET Riikka Joukio, who is a closely associated person to Metsä Board’s CEO, received on 13 March 2020 shares in her role as a key employee of Metsäliitto Cooperative and based on Metsä Group’s long term share incentive system plan. Metsä Board Oyj - Managers' transactions - Joukio ____________________________________________ Person subject to the notification requirement Name: Joukio, Riikka Position: Closely associated person Closely associated person Name: Joukio Mika Position: Chief Executive Officer Issuer: Metsä Board Oyj LEI: 743700KKB8Q035K38488 Notification type: INITIAL NOTIFICATION Reference number: 743700KKB8Q035K38488_20200316153342_15 ____________________________________________ Transaction date: 2020-03-13 Venue not applicable Instrument type: SHARE ISIN: FI0009000665 Nature of the transaction: RECEIPT OF A SHARE-BASED INCENTIVE Transaction details (1): Volume: 17250 Unit price: 0.00 EUR Aggregated transactions (1): Volume: 17250 Volume weighted average price: 0.00 EUR 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 (https://www.metsaboard.com/Pages/default.aspx) Metsä Board is a leading European producer of premium fresh fibre paperboards and forerunner in sustainability. We produce premium lightweight folding boxboards, food service boards and white kraftliners for consumer goods packaging 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. We aim for completely fossil free mills and raw materials by 2030. The global sales network of Metsä Board supports customers worldwide, including brand owners, retailers, converters and merchants. In 2019, 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 (http://www.linkedin.com /company/mets -board?trk=top_nav_home) YouTube (https://www.youtube.com/playlist?list=PLF6CD152 EF0DA1E61) Instagram (https://www.instagram.com/metsaboard/?cm_medium=test)