UPM Annual Report 2021, Corporate Governance Statement and Remuneration Report published

UPM-Kymmene Corporation        Annual Financial Report                1 March 2022 at 9:30 EET

UPM Annual Report 2021, Corporate Governance Statement and Remuneration Report published

UPM's Annual Report 2021 has been published online at www.upm.com and www.upm.fi. The Annual Report including the company's Financial Statements and the Report of the Board of Directors for the period 1 January - 31 December 2021 is available in English and Finnish on the corporate website. In accordance with the European Single Electronic Format (ESEF) reporting requirements, the Financial Statements and Report of the Board of Directors for the year 2021 have also been published in xHTML format. In line with the ESEF requirements, the primary statements of the consolidated financial statements have been labelled with XBRL tags. XBRL tags have not been subject to audit and have not been assured by auditors.

UPM has also published its Corporate Governance Statement 2021 and the Remuneration Report for the financial year 2021. The Remuneration Report for governing bodies presents the remuneration of the directors and the President and CEO. The Remuneration Report 2021 will be presented at the Annual General Meeting 2022 on 29 March 2022. The Statement and the Remuneration Report are available on the corporate website at www.upm.com/governance (the Investors section under Governance).

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

2021 was a strong year for UPM. Our earnings returned to strong pre-pandemic levels, and five out of our six business areas surpassed their long-term financial targets. The year was also significant in our strategic growth projects. The annual report provides extensive information on the progress of these growth projects and on our efforts to secure safety of our personnel and ensure performance. We renewed our 2030 social responsibility targets and joined the Climate Pledge, which aims for climate-neutrality by 2040 and to reach the targets of the Paris Agreement 10 years in advance. In 2021, our energy-related CO₂ emissions decreased by 8%. As part of our journey towards carbon neutrality, our goal is stop using coal energy by 2030. We create a positive impact and we enable our customers and consumers to make more sustainable choices with our products. Our purpose is to create a future beyond fossils.

The Annual Report, the Statement and the Remuneration Report can be downloaded as PDF files in English and Finnish and the Financial Statements and the Report of the Board of Directors as xHTML file and they are also attached to this release.

The printed Annual Report will be published on the week beginning on 14 March. The printed report can be ordered at www.upm.com/investors/subscribe-to-the-annual-report/ .

Attachments
Annual report 2021
Financial Statements and Report of the Board of Directors for the year 2021 in xHTML format
Corporate Governance Statement 2021
The Remuneration Report 2021

UPM-Kymmene Corporation
Pirkko Harrela
Executive Vice President, Stakeholder Relations

UPM, Media Relations
Mon-Fri 9:00-16:00 EET
tel. +358 40 588 3284
[email protected]

UPM
We deliver renewable and responsible solutions and innovate for a future beyond fossils across six business areas: UPM Fibres, 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 17,000 people worldwide and our annual sales are approximately EUR 9.8 billion. Our shares are listed on Nasdaq Helsinki Ltd. UPM Biofore – Beyond fossils. www.upm.com

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Attachments

• UPM-CG-Statement-2021
• 213800EC6PW5VU4J9U64-2021-12-31-en
• UPM-Remuneration-Report-2021
• UPM-AR-2021-EN