Metsä Board Oyj - Company Announcement

The Board of Directors of Metsä Board Corporation has resolved on an incentive plan for key executives

Metsä Board Corporation Stock Exchange Release 7 February 2014 at 9 am EET

The Board of Directors of Metsä Board Corporation has resolved to continue the
share-based incentive plan established in 2011 that is directed to Metsä Board
Corporation's key executives. The aim of the plan is to combine the objectives
of the shareholders and the executives in order to increase the value of Metsä
Board, to commit the executives to implement the mutual strategy, and to offer
them a competitive reward plan based on share ownership. 

The plan includes three new three-year earning periods, calendar years
2014-2016, 2015-2017 and 2016-2018. The Board of Directors will decide on the
earnings criteria and related targets at the beginning of each earnings period.
The potential reward for the earnings period 2014-2016 will be partly based on
Metsä Board Group's Equity Ratio and the development of Return on Capital
Employed (ROCE) and Operating result (EBIT) and partly based on Metsä Group's
corresponding indicators, all as determined by the Board of Directors. Each
earnings period is followed by subsequent two-year restriction period during
which the participant is not entitled to transfer or dispose of the shares. 

The potential reward from the earning period 2014-2016 will in 2017 be paid
partly in Metsä Board Corporation series B shares and partly in cash. The
proportion to be paid in cash will cover taxes and other statutory costs
arising from the reward. 

At the beginning the first earnings period of the plan covers 8 persons
including the members of the Metsä Board Corporate Management Board. The
maximum reward to be paid for the first earnings period is in aggregate
approximately 430,000 Metsä Board Corporation B-series shares. 



METSÄ BOARD CORPORATION

Further information:

Kari Jordan, Chairman of the Board of Directors, tel. +358 10 465 5200