Metsä Board Oyj — Share Issue/Capital Change 2018

May 17, 2018

Disclosure 361929

Metsä Board Oyj - Managers' transactions

83,342 Metsä Board A-shares converted into B-shares

Metsä Board Corporation Stock Exchange Release 17 May 2018 at 1 pm EEST In accordance with Section 14 of the Articles of Association of Metsä Board Corporation, 83,342 A-shares have been converted into 83,342 B-shares based on requests by shareholders. The conversion has been entered into the Trade Register on 17 May 2018 and trading with these shares is estimated to commence on 18 May 2018. The total number of Metsä Board shares is 355,512,746. After the conversion the amount of A-shares is 35,605,340 which entitle to approximately 69 per cent of the voting rights in Metsä Board and the amount of B-shares 319,907,406 which entitle to approximately 31 of the voting rights. METSÄ BOARD CORPORATION Further information: Katri Sundström, Vice President, Investor Relations, tel. +358 400 976 333 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 2017, the company’s sales totalled EUR 1.8 billion, and it has approximately 2,350 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/) Slideshare (https://www.slideshare.ne t/MetsaBoard)