UPM-Kymmene Oyj

UPM held a Capital Markets Day in London, focusing on the theme 'From transformation to growth'. President and CEO Massimo Reynaudo and the Group Executive Team discussed UPM's strategy to accelerate growth in renewable fibres, advanced materials, and decarbonisation solutions. Over the past 15 years, UPM has shifted from a paper producer to a supplier of advanced materials, achieving a 14% annual shareholder return. The company aims to further growth in the next five years, particularly in renewable fibres, advanced materials, and decarbonisation solutions. UPM plans to optimise its production in Uruguay, expand in fast-growing markets, and launch its biochemicals business. The company remains committed to disciplined capital allocation, attractive returns, and sustainability. More information and a replay of the webcast are available on UPM's website.

UPM-Kymmene Corporation has applied for the listing of its fourth Green Bond, valued at EUR 600 million, on Euronext Dublin. The bond, which matures in August 2034, offers a fixed annual coupon of 3.375% and holds a BBB+ rating from S&P Global Ratings. The proceeds will be used to finance or refinance projects under UPM's Green Finance Framework. Relevant documents are available on UPM’s website. For more information, contact Kenneth Råman or UPM Media Relations. UPM focuses on renewable and responsible solutions across six business areas and is committed to climate change mitigation. The company employs 16,600 people globally and has annual sales of approximately EUR 10.5 billion. UPM shares are listed on Nasdaq Helsinki Ltd.

UPM has issued a new EUR 600 million Green Bond under its Euro Medium Term Note Programme and Green Finance Framework, maturing in August 2034 with an annual coupon of 3.375%. The bond is expected to be rated BBB+ by S&P Global Ratings and will be listed on the Irish Stock Exchange (Euronext Dublin). BNP Paribas, Danske Bank, J.P. Morgan, OP Corporate Bank, and SEB were joint bookrunners. The proceeds will finance or refinance projects under UPM's Green Finance Framework, focusing on sustainable forest management, climate-positive products, and renewable energy. This issuance strengthens UPM's position as a leading corporate Green Bond issuer in the Nordics, bringing its total Green Bonds issued to EUR 2,350 million. The company's CFO, Tapio Korpeinen, highlighted the link between this financing and UPM's sustainability goals. UPM employs 16,600 people, with annual sales of approximately EUR 10.5 billion, and is listed on Nasdaq Helsinki Ltd.

UPM Communication Papers announced the permanent closure of its Hürth newsprint mill and the shutdown of one fine paper machine at Nordland Papier in Dörpen, Germany, affecting 338 positions. Graphic paper production in Hürth will end on 31 August 2024, and at Nordland Papier PM 3 by the end of 2024, reducing annual capacities by 330,000 tonnes of newsprint and 280,000 tonnes of uncoated fine paper. Constructive dialogues with employee representatives led to socially responsible solutions. The financial impact remains unchanged from the May announcement. UPM Communication Papers, headquartered in Germany, employs about 6,000 people and operates 11 paper mills globally. UPM is committed to sustainability and climate change mitigation, employing 16,600 people worldwide with annual sales of approximately EUR 10.5 billion.

UPM is hosting its Capital Markets Day 2024 on Thursday, 5 September, at the London Stock Exchange Group, 10 Paternoster Square, London. The event is open to investors, analysts, and bankers, offering insights into UPM's strategy, business performance, sustainability, and growth opportunities. The schedule includes registration and lunch from 12:00 to 13:00, presentations and a live webcast from 13:00 to 15:00, and coffee and discussions from 15:00 to 16:00. Participants can register now, and those unable to attend in person can join the live webcast. Recordings will be available on UPM’s website. Contact UPM Investor Relations or Media Relations for more information. UPM focuses on renewable solutions and sustainability, employing 16,600 people globally with annual sales of approximately EUR 10.5 billion.