Press release

UPM-Kymmene Oyj: UPM Fibres' change negotiations in Finland concluded

(UPM, Helsinki, 2 December 2024 at 10:05 EET) - UPM Fibres has completed its change negotiations in the Fibres Finland Operations organization, which includes the UPM Pulp, the UPM Timber and the UPM Forest organisations in Finland. The negotiations were initiated in October in order to increase efficiency and safeguard profitability.

Approximately 1,600 employees were included in the scope of the change negotiations. As a result of the negotiations, a reduction of a maximum of 88 positions will take place. In addition, the negotiations within UPM Pulp's Finnish pulp mills and within the UPM Timber business in Finland led to an agreement on possible temporary layoffs for the first half of 2025. These possible layoffs could be implemented in stages and could last up to 90 days.

For further information please contact:
Petri Hakanen, SVP, Fibres Finland Operations, UPM Fibres, tel. +358 40 530 5595

UPM, Media Relations
Mon-Fri 9:00-16:00 EET
tel. +358 40 588 3284
media@upm.com

UPM Fibres consists of UPM's pulp and timber businesses as well as wood sourcing and forestry operations. UPM Pulp has three pulp mills in Finland and two pulp mills and plantation operations in Uruguay. UPM Timber operates four sawmills in Finland. UPM Forest secures competitive wood and biomass for the UPM businesses, manages UPM-owned and privately owned forests in Northern Europe and offers forestry services to forest owners and forest investors. upmpulp.com | upmtimber.com | upmmetsa.fi (FI)

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 16,600 people worldwide and our annual sales are approximately EUR 10.5 billion. Our shares are listed on Nasdaq Helsinki Ltd. UPM Biofore - Beyond fossils. www.upm.com