Metsä Board Oyj — Earnings Release 2023

Apr 12, 2023

Disclosure 431322

Metsä Board Oyj - Inside information

Inside information, profit warning: Metsä Board's comparable operating result for January-March 2023 will be weaker than previously estimated

Metsä Board Corporation Stock Exchange Release Inside information 12 April 2023 at 9 a.m. EEST Metsä Board, part of Metsä Group, estimated in its Financial statements bulletin 2022 published on 9 February 2023 that the company's comparable operating result for January-March 2023 would be roughly at the same level as in October-December 2022. The comparable operating result for October-December 2022 was EUR 100.8 million. Metsä Board's comparable operating result for January-March 2023 is estimated to be approximately EUR 89 million. The lower-than-estimated operating result was particularly affected by the weakened demand situation for market pulp in both Europe and China. In Europe, demand for market pulp was reduced by prolonged production shutdowns by paper and paperboard producers as the value chain continued to adjust inventories. In China, the economic recovery has been weaker than expected. Metsä Board has also adjusted its paperboard production to meet demand, and production in the first quarter of 2023 was below capacity level. Paperboard delivery volumes decreased from the previous quarter. Metsä Board will publish its Interim Report for January-March 2023 on 27 April 2023 at 12:00 EEST. METSÄ BOARD CORPORATION Further information: Henri Sederholm, CFO, tel. +358 10 465 4913 Katri Sundström, VP, Investor Relations, tel. +358 10 462 0101 Metsä Board metsagroup.com/metsaboard (http://www.metsagroup.com/metsaboard/) Metsä Board is a leading European producer of premium fresh fibre paperboards. We focus on lightweight and high-quality folding boxboards, food service boards and white kraftliners. The pure fresh fibres we use in our products are a renewable and recyclable resource, that can be traced back to sustainably managed northern forests. We are a forerunner in sustainability, and we aim to have completely fossil free mills and raw materials by the end of 2030. Together with our customers we develop innovative packaging solutions to create better consumer experiences with less environmental impact. In 2022 our sales totalled around EUR 2.5 billion, and we have around 2,250 employees. Metsä Board, part of Metsä Group, is listed on the Nasdaq Helsinki. Follow Metsä Board: Twitter (https://twitter.com/MetsaBoard) LinkedIn (https://ww w.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)