Invitation to UPM's Forest and Energy webcast on 12 September 2022

Climate change mitigation and resource scarcity require further electrification of the society and rapid reduction of the use of fossil-based fuels and materials. Geopolitics and the current energy market situation in Europe have made fossil energy even less appealing and emphasised the importance of supply security and competitiveness. All this drives demand for renewable materials and reliable, competitive low-emission energy.

We have systematically developed our forest assets and expanded the plantations in Uruguay, continuously improving productivity of our operations. This now enables growing our pulp production by more than 50% when the UPM Paso de los Toros pulp mill starts up by the end of Q1 2023.

During the webcast we will discuss how sustainable forestry combines climate change mitigation, enhancing biodiversity and economic interests. UPM Forest Action programme takes a holistic, global view, and outlines an ambitious agenda to maximise the positive impact of our forestry operations.

We will discuss UPM's growing energy generation, which is set to be in high demand in the current energy market situation. UPM Energy's carbon free electricity generation will increase by nearly 50% with the start-up of the OL3 nuclear power plant unit in Finland. Finally, we will take a look at our energy consuming businesses in the context of the energy markets.

Participants of the webcast can view the webcast online at www.upm.com or through this link. Participants will have the opportunity to ask questions. Recording of the webcast will be posted on the website after the event.

For further information please contact:
Mika Mikkola, Vice President, Investor Relations, UPM, tel. +358 (0) 2041 50376

UPM, Investor Relations
Mon-Fri from 9:00 to 16:00 EEST
tel. +358 (0) 2041 50033
[email protected]

UPM, Media Relations
Mon-Fri 9:00-16:00 EEST
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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