UPM Annual Report 2019 and Remuneration Policy published

UPM-Kymmene Corporation                   Annual Financial Report             28 February 2020 at 10:00 EET

UPM Annual Report 2019 and Remuneration Policy published

UPM's Annual Report 2019 has been published online at and . The Annual Report including the company's Financial Statements and the Report of the Board of Directors for the period 1 January - 31 December 2019 is available in English and Finnish on the corporate website.

UPM has also published its Corporate Governance Statement 2019 and the Remuneration Statement dated 28 February 2020 on the corporate website in the Investors section under Governance (). The company has also published the Remuneration Policy for governing bodies (i.e. the Board of Directors and the President and CEO) and this policy will be presented at the Annual General Meeting 2020. The policy sets out the framework for the remuneration of the company’s governing bodies and it is available on the corporate website at .

The Annual Report, the statements and the Remuneration Policy can be downloaded as PDF files in English and Finnish and they are also attached to this release.

The Annual Report highlights UPM’s strategic transformation in 2019 and the commitment to responsible solutions in bioeconomy. During the year, UPM commenced the investment in a new pulp mill in Uruguay and prepared for growth projects in biochemicals and biofuels. In the beginning of 2020, UPM decided to invest in an industrial-scale biochemical refinery in Germany. When completed, the projects offer significant growth to the company and open up completely new markets. The report also illustrates UPM’s commitment to UN’s Business Ambition for 1.5°C pledge which aims to limit global temperature rise. UPM can contribute to climate change mitigation through climate-positive land use, significant reductions in carbon dioxide emissions and innovative products that replace fossil materials. These actions are of great importance to our company value in long term.

All material information has been integrated into this one, third-party assured entirety and no separate responsibility report is published.

The printed Annual Report will be published on the week beginning on 9 March. The printed report can be ordered at .

UPM-Kymmene Corporation

Pirkko Harrela

Executive Vice President, Stakeholder Relations

UPM, Media Relations

Mon-Fri 9:00-16:00 EET

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UPM

We deliver renewable and responsible solutions and innovate for a future beyond fossils across six business areas: UPM Biorefining, UPM Energy, UPM Raflatac, UPM Specialty Papers, UPM Communication Papers and UPM Plywood. As the industry leader in responsibility we are committed to the UN Business Ambition for 1.5°C and the science-based targets to mitigate climate change. We employ 18,700 people worldwide and our annual sales are approximately EUR 10.2 billion. Our shares are listed on Nasdaq Helsinki Ltd. UPM Biofore – Beyond fossils.

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