Metsä Board Annual Review 2024

METSÄ BOARD Annual review 2024

Business operations and value creation 2 This is Metsä Board 4 CEO’s review 6

Strategy and financial targets

8

Value creation

Financial development 10 Key figures 12

Report of the Board of Directors

20 20 37 70 89 96

• Sustainability statement

General information

E – Environment

S – Social responsibility

G – Governance

Annexes to the Sustainability statement

98 Consolidated financial statements 102 Notes to the consolidated financial statements 150 Parent company financial statements 153 Notes to the parent company financial statements 166 The Board’s proposal to the Annual General Meeting for the distribution of funds 167 Auditor’s Report 171 Sustainability statement assurance report 173 Shares and shareholders 177 Ten years in figures 178 Taxes 179 Production capacities 181 Calculation of key ratios and comparable performance measures Corporate governance 183 Corporate governance statement 190 • Board of Directors of Metsä Board 194 • Corporate Management Team of Metsä Board

Metsä Board is a leading European producer of premium fresh fibre paperboards. Our paperboards made from renewable wood fibre are used for consumer and retail packaging solutions.

Metsä Board Annual Review 2024

Metsä Board Sustainability Review 2024

196 Remuneration report 201 Investor relations and investor information

PUBLISHED BY Metsä Board Corporation, Communications metsaboard.communications@metsagroup.com

Metsä Board’s annual reporting for 2024 includes the Annual Review and the Sustainability Review (available in March 2025). www.metsagroup.com/metsaboard

Metsä Board Annual Review 2024

Metsä Board Sustainability Review 2024

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