Metsä Board Annual and sustainability report 2022

A record year 2022

Our strong financial position lays the foundation for our future growth. Interest-bearing net debt/ comparable EBITDA 0.2

SALES

COMPARABLE OPERATING RESULT EUR million % of sales

TOTAL INVESTMENTS

EUR million

2,500 2,000 1,500 1,000 500 0

350 300 250 200 150 100 50 0

30 25 20 15 10 5 0

600 500 400 300 200 100 0

Our financial target is no more than 2.5

18 19 20 21 22

In 2022, we produced 1.9 million tonnes of paperboard and 1.4 million tonnes of pulp and BCTMP

SALES SPLIT BY PRODUCT % of sales

SALES SPLIT BY REGION % of sales

Folding boxboard �� 57 White kraftliners �� 25 Market pulp �� 15 Other �� 3

EMEA �� 66 Americas �� 26 APAC region �� 8

Source: Metsä Board’s estimates

We are 2,248 Metsä Board employees in 17 countries We procure wood from forests where renewal and biodiversity are safeguarded. Of all the wood fibre we procure, certified wood fibre accounts for 83 % Target > 90% by the end of 2030

We have 8 production units in Finland and Sweden and deliver products to approximately 100 countries Our sustainable investments are moving us closer to fossil free operations. The share of fossil free energy of our total energy consumption is

Our customers include international brand owners, packaging converters, manufacturers of corrugated products and merchants

Our ambitious targets strengthen our position as a forerunner in sustainability

87 % Target: 100% by the end of 2030