Metsä Board Oyj — Capital/Financing Update 2013

Sep 30, 2013

Disclosure 309685

Metsä Board Oyj - Company Announcement

Metsä Board divests its holding in Metsä Group Treasury Oy

Metsä Board Corporation Stock Exchange Release 30 September 2013 at 10 am EET Metsä Board Corporation, part of Metsä Group, and the Group's parent company Metsäliitto Cooperative have on 30 September 2013 entered into an agreement regarding the ownership reorganization of Metsä Group Treasury Oy (formerly Metsä Group Financial Services Oy). Metsäliitto Cooperative will fully acquire the ownership of Metsä Group Treasury, which is the Group's internal bank. Metsä Group Treasury will remain as a separate corporation after the transaction and continues to provide treasury services for Metsä Board as before. Metsä Board divests its 51 per cent holding in Metsä Group Treasury to Metsäliitto Cooperative for approximately EUR 5 million. The transaction does not impact Metsä Board's annual sales or operative result. The transaction improves Metsä Board's equity ratio by approximately 5 percentage points, improves ROCE close to 1 percentage point and reduces gross debt by over EUR 300 million, all compared to 2Q 2013 actual numbers. KEY FIGURES As reported1) Proforma2) 30 Jun 2013 30 Jun 2013 Total assets, EUR million 2,531.5 2,185.0 Interest bearing liabilities, EUR million 1,060.5 739.8 Interest bearing net-liabilities, EUR million 605.9 613.1 Equity ratio, % 32.4 37.3 Gearing, % 130 91 Net Gearing, % 74 75 Return on capital employed, 1-2Q 2013, % 7.1 7.9 1) Metsä Board, incl. Metsä Group Treasury 2) Metsä Board, excl. Metsä Group Treasury METSÄ BOARD CORPORATION Further information: Matti Mörsky, CFO, tel. +358 10 465 4913 Juha Laine, Vice President, Investor Relations and Communications, tel. +358 10 465 4335