UPM establishes a Euro Medium Term Note programme and publishes a Green Finance Framework

www.ise.ie and on UPM's website at www.upm.com/investors/upm-as-an-investment/debt/.

Citigroup Global Market Limited is acting as arranger of the EMTN programme.

In connection with the establishment of the EMTN programme, UPM has also prepared a Green Finance Framework, which will continue integrating its Biofore strategy into financing of the company. In March 2020, UPM became one of the first companies to link the pricing mechanism of a syndicated revolving credit facility (RCF) to both biodiversity and climate targets. With the Green Finance Framework, UPM is adding “use of proceeds” -based financing to its finance strategy.

Nordea acted as adviser on the establishment of the Green Finance Framework and CICERO Shades of Green as an independent second opinion provider. UPM's framework was rated with the highest-grade, CICERO Dark Green.

The proceeds from notes issued under the EMTN programme will be used for general corporate purposes or in respect of notes issued as green bonds in accordance with the UPM Green Finance Framework to finance Eligible Projects and Assets.

The base prospectus and the Green Finance Framework are available on UPM's website at www.upm.com/investors/upm-as-an-investment/debt/.

For further information please contact:
Kenneth Råman, SVP, Treasury and Risk Management, UPM, tel. +358 400 477 287 (EMTN Programme)
Sami Lundgren, VP, Responsibility, UPM, tel. +358 40 580 0910 (Green Finance Framework)

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

Disclaimer
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In the United Kingdom, the information in this release may be distributed only to, and may be directed at, (a) persons who have professional experience in matters relating to investments falling within Article 19(1) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or (b) high net worth entities falling within Article 49(2)(a) to (d) of the Order, and other persons to whom it may be lawfully communicated, falling within Article 49(1) of the Order (all such persons together being referred to as “relevant persons”). Any person who is not a relevant person should not act or rely on this release or any of its contents.

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. www.upm.com

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