UPM Annual Report 2019

Group Executive Team

President and CEO of UPM-Kymmene Corporation since 2004. COO of UPMPaper Divisions and Deputy to the President and CEO 2001–2004. Several management positions in UPMPaper Divisions 1987–2001. Chair of the Board of the Finland Chamber of Commerce and ICC Finland. Deputy Chair of the Board of the Finnish Forest Industries Federation (FFIF). Boardmember of UPM-Kymmene Corporation, the Confederation of European Paper Industries (CEPI) and the East Office of Finnish Industries Oy.

Group General Counsel since 2005. Positions as legal counsel and senior legal counsel in KONE Corporation 1997–2004. Several positions in law firms 1991–1996. Supervisory Boardmember of Kemijoki Oy.

• President and CEO • M.Sc. (Eng.) • Born 1960, Finnish citizen • Member of the Group

• General Counsel • LL.M. • Born 1962, Finnish citizen • Member of the Group

Executive Team since 2001, employed by UPM Group since 1987

Executive Team since 2008, employed by UPM Group since 2005

• UPM shares 466,472

• UPM shares 73,894

Jussi Pesonen

Juha Mäkelä

CFO since 2010. President, Energy and Pulp Business Group 2008–2010. Vice President, Corporate Development and Senior Vice President, Strategy, UPM2005–2008. Several management positions at Jaakko Pöyry Consulting in Finland and North America 1991–1998 and 1999–2005. A.T. Kearney in Finland 1998–1999 andMcKinsey &Company in Sweden 1988–1990. Chair of the Board of Pohjolan Voima Oy. Vice Chair of the Board of Kemijoki Oy. Boardmember of Teollisuuden Voima Oyj. Supervisory Boardmember of VarmaMutual Pension Insurance Company.

Senior Vice President, UPMSpecialty Papers ENA 2018– 2019. Vice President, APAC Sales, UPMFine and Specialty Papers, China 2012–2017. Vice President, Converters, Paper Business Group, Finland 2011–2012. Area Sales Director, APAC Converters, Paper Business Group, Hong Kong 2005–2011. Productionmanager, Fine and Specialty Papers 2001–2005. Technical customer service manager, Fine and Specialty Papers 1995–2000. Analyst, Jaakko Pöyry Consulting 1993–1995.

• Chief Financial Officer, Executive Vice President, UPM Energy • M.Sc. (Tech.), MBA • Born 1963, Finnish citizen • Member of the Group

• Executive Vice President, UPM Specialty Papers • M.Sc. (Eng.), eMBA • Born 1967, Finnish citizen • Member of the Group Executive Team since July 2019, employed by UPM Group since 1995

Executive Team since 2008, employed by UPM Group since 2005

• UPM shares 2,172

• UPM shares 168,013

Tapio Korpeinen

Jaakko Nikkilä

Executive Vice President, UPMSpecialty Papers 2016–2019. Executive Vice President, UPMPaper ENA 2013–2016. Senior Vice President, Supply Chain, Paper Business Group 2008–2013. President, UPM-Kymmene Inc. North America 2005–2008. Several management positions at UPMNordland Papier 1998–2005. Senior Process Engineer, International Paper Co. 1996–1998. Supervisory Boardmember of Johann Bunte Bauunternehmung GmbH&Co. KG. Advisory Boardmember of Meyer Turku Oy.

Senior Vice President, Human Resources at Elcoteq Network Corporation 2001–2004. Senior Vice President, Human Resources at Raisio Group 2000–2001. Human Resources Manager at NokiaMobile Phones, Salo Operations 1995–2000. Human Resources positions at ABB 1990–1994. Supervisory Boardmember of IlmarinenMutual Pension Insurance Company. Boardmember of Scandic Hotels Group AB and Chair of the Compensation Committee. Member of Labour Markets Committee of the Finnish Forest Industries Federation (FFIF). Member of Work, Education and Skills Committee of the Finland Chamber of Commerce.

• Executive Vice President, UPM Biorefining • Ph.D. (Eng.) • Born 1965, German citizen • Member of the Group Executive Team since 2013, employed by UPM Group since 1998

• Executive Vice President, Human Resources • M.Sc. (Econ.) • Born 1964, Finnish citizen • Member of the Group

Executive Team since 2004, employed by UPM Group since 2004

• UPM shares 84,785

• UPM shares 26,781

Bernd Eikens

Riitta Savonlahti

President, Paper Business Group 2008–2013. President, Magazine Paper Division 2004–2008. President, Fine and Speciality Papers Division 2002–2003. Several management positions at United Paper Mills Ltd and UPMGroup in the Printing Papers Division 1984–2001. Vice Chair of the Board of CLIC Innovation Oy. Member of the Business Finland Advisory Board for Bioeconomy and Cleantech. Member of the Finnish Research and Innovation Council 2016–2019.

Senior Vice President, Newspaper Publishing, UPMPaper ENA 2013–2016. Several leadership positions in the UPM paper business 2001–2013. Project Manager, Investments, Haindl Papier GmbH 1993–2001. Project Engineer, Hoerbiger Automotive 1991–1992. Chair of the Board of the German Pulp and Paper Association (VDP). Vice Chair of the Board of the Bavarian Industry Association (vbw). Boardmember of the Confederation of European Paper Industries (CEPI) and the Federation of German Industries (BDI).

• Executive Vice President, Technology • M.Sc. (Eng.) • Born 1958, Finnish citizen • Member of the Group

• Executive Vice President, UPM Communication Papers • Dipl. Ing. (FH) • Born 1965, German citizen • Member of the Group Executive Team since 2016, employed by UPM Group since 2001

Executive Team since 2002, employed by UPM Group since 1984

• UPM shares 99,054

• UPM shares 50,292

Jyrki Ovaska

Winfried Schaur

Executive Vice President, Corporate Communications 2004–2013. Vice President, Corporate Communications of UPM2003. Several positions in Communications in Finnpap and UPMPaper Division 1985–2002. Boardmember of the Finnish Forest Industries Federation (FFIF). Member of S-Group’s CSR and Sustainability Advisory Group. Member of the Board of Trustees inWWF Finland. Boardmember of Deutsch- Finnische Handelskammer, Satalinna Foundation and UPM-Kymmene Cultural Foundation. Member of the Board of Governors of the Association for FinnishWork.

• Executive Vice President, Stakeholder Relations • M.A. • Born 1960, Finnish citizen • Member of the Group

Vice President, Sourcing, UPMRaflatac Group 2008– 2013. Senior Vice President, Strategic Development, UPMRaflatac Group 2003–2008. Vice President, UPMRaflatac Europe 2001–2003. Several management positions at UPMRaflatac in Finland and in France 1985–2000. Boardmember of the Federation of the Finnish Woodworking Industries.

• Executive Vice President, UPM Plywood • M.Sc. (Eng.) • Born 1958, Finnish citizen • Member of the Group

Executive Team since 2004, employed by UPM Group since 1985

Executive Team since 2013, employed by UPM Group since 1985

• UPM shares 92,264

• UPM shares 52,719

Pirkko Harrela

Mika Sillanpää

Senior Vice President, EMEIA, UPMRaflatac 2014–2016. Senior Vice President, Head of Global Operations, Amer Sports 2012–2014. Chief Development Officer, member of the Group Executive Board, Amer Sports 2009–2014. Several management positions at Stora Enso in Finland, Sweden and the UK 2004–2009. Engagement Manager & Associate, McKinsey &Company 2002–2004. Business Operations Manager, Nokia Networks in Finland and Italy 1998–2001. Financial Analyst, Enso Group 1997–1998.

Senior Vice President, Corporate Strategy 2010–2013. Director, M&A, UPM-Kymmene Corporation 2007– 2010. Investment Manager at Finnish Industry Investment Ltd 2006–2007. M&A Advisor at JP Capital International Limited in the UK 2000–2006. Management Consultant at Jaakko Pöyry Consulting Oy 1998–2000. Vice Chair of the Board of Steveco Oy.

• Executive Vice President, UPM Raflatac • M.Sc. (Eng.), M.Sc. (Econ.), MBA • Born 1972, Finnish citizen • Member of the Group Executive Team since 2016, employed by UPM Group since 2014

• Executive Vice President, Strategy • M.Sc. (Eng.) • Born 1971, Finnish citizen • Member of the Group

Executive Team since 2013, employed by UPM Group since 2007

• UPM shares 41,971

• UPM shares 23,700

Antti Jääskeläinen

Kari Ståhlberg

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UPM ANNUAL REPORT 2019

UPM ANNUAL REPORT 2019

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GOVERNANCE

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