UPM Annual Report 2022, Corporate Governance Statement and Remuneration Report published

UPM-Kymmene Corporation        Annual Financial Report                3 March 2023 at 9:15 EET

UPM Annual Report 2022, Corporate Governance Statement and Remuneration Report published

UPM's Annual Report 2022 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 2022 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 2022 have also been published in xHTML format. In line with the ESEF requirements, the primary statements and notes 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 and the Remuneration Report for the financial year 2022. The Remuneration Report for governing bodies introduces the remuneration of the directors and the President and CEO. The Remuneration Report 2022 will be presented at the Annual General Meeting 2023 on 12 April 2023. 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 UPM does not publish separate sustainability report.

For UPM, 2022 was a pivotal year. Our annual sales and earnings were at an all-time high. All our businesses succeeded despite the extraordinary events happening in the world around us. Our transformative growth projects also progressed as planned towards the finish line. The annual report provides comprehensive information on our transformation as a frontrunner in biomaterials and our progress towards the 2030 responsibility targets. We launched the UPM Forest Action programme, which will run until 2030, and we made biodiversity into a separate focus area with own targets. In 2022, our energy-related CO₂ emissions decreased by 11% compared to the previous year. Our purpose is to create a future beyond fossils with everyday actions for the future.

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 13 March. The printed report can be ordered at www.upm.com/investors/subscribe-to-the-annual-report/ .

Attachments
Annual report 2022
Financial Statements and Report of the Board of Directors for the year 2022 in xHTML format
Corporate Governance Statement 2022
The Remuneration Report 2022

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
media@upm.com

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 17,200 people worldwide and our annual sales are approximately EUR 11.7 billion. Our shares are listed on Nasdaq Helsinki Ltd. UPM Biofore – Beyond fossils. www.upm.com

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Attachments

• UPM-Annualreport22
• UPM_CG-Statement_2022
• UPM_Remuneration_Report_2022
• Financial Statements-esef-2022-en