Biofore Magazine 2020

EDITORIAL

How do you begin to sum up the year we have had? I think it is safe to say that no one will be disappointed to see the back of 2020 and I do not want to dwell too much on the negatives. We have all had our fair share of ups and downs, but it is my belief that we learn most about ourselves during the hard times. Working together and supporting each other can onlymake us stronger andmore determined tomake the world a better place. So, how is UPMmaking a difference? To start with, we were one of the first Finnish compa- nies to commit to the UN’s Business Ambition for 1.5°C, and we are very proud of this. We will strive tomitigate climate change by innovating novel products, committing to a 65%CO 2 emis- sion reduction andpractising sustainable forestry.We also tied themarginof aEUR750million revolving credit facility to long-termbiodiversity and climate targets. And our EUR550million investment inwood-based biochemicals production is a great example of innovation and intro- ducing something completely new to the world. The theme of this magazine is ‘reset’ and it could not be more appropriate at this time. Throughout, we want to champion the good being done both in our business and beyond, in or- der to create a sustainable future formany generations to come. At UPM, we firmly believe that better times are ahead if we all work together towards a common goal. There are some fantastically talented people doing some simply remarkable work at the mo- ment to make the world a better place; this is something that gives me great hope. To this end, this publication explores the expanding role of hydrogen and biochemicals, looks at resetting

global consumption and examines the role of companies when it comes to climate change.We also take a crash course inwhit- tling and learn about the history of the humble milk carton, so there truly is something for everyone. Before signing off, I would like to point out the incredible versatility and perseverance that my colleagues have shown throughout thismost testing of times – you are a credit toUPM and I’mproud to work alongside each and every one of you.

Stay safe and be kind to each other, Hanna Maula , Editor-in-Chief

Editor-In-Chief Hanna Maula Managing Editor Sini Paloheimo Editorial Team Kristiina Jaaranen, Joonas Linkola, Tommi Vanha, Päivi Vistala-Palonen Content & Design Spoon Agency Cover photo iStock Printing Punamusta Cover UPMFinesse Silk 200 g/m² Pages UPM Star 1.2 matt 100 g/m² Address UPM-Kymmene Corporation, PO Box 380, FIN-00101 Helsinki, Finland Tel. +358 (0)204 15 111 upm.com We deliver renewable and responsible solutions and innovate for a future beyond fossils across six business areas: UPMBiorefining, UPMEnergy, UPMRaflatac, UPM Specialty Papers, UPMCommunication Papers and UPMPlywood. 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. UPMBiofore – Beyond fossils. UPMBIOFORE – BEYOND FOSSILS.