UPM Annual Report 2020

Group Executive Team

•President and CEO •M.Sc. (Eng.) •Born 1960, Finnish citizen

President and CEO of UPM-Kymmene Corporation since 2004. COO of UPM Paper Divisions and Deputy to the President and CEO 2001–2004. Several management positions in UPM Paper 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). Board member of the Confederation of European Paper Industries (CEPI) and the East Office of Finnish Industries Oy.

Senior Vice President, UPM Specialty Papers ENA 2018–2019. Vice President, APAC Sales, UPM Fine 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. Production manager, Fine and Specialty Papers 2001–2005. Technical customer service manager, Fine and Specialty Papers 1995–2000. Analyst, Jaakko Pöyry Consulting 1993–1995.

•Executive Vice President, Technology •M.Sc. (Eng.) •Born 1958, Finnish citizen •Member of the Group Executive Team since 2002, employed by the UPM Group since 1984 •UPM shares 108,148 • 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 the UPM Group since 1995 • UPM shares 3,655 • Executive Vice President, Human Resources • M.Sc. (Econ.) • Born 1964, Finnish citizen • Member of the Group Executive Team since 2004, employed by the UPM Group since 2004 • UPM shares 34,231 • Executive Vice President, UPM Commu nication Papers • Dipl. Ing. (FH) • Born 1965, German citizen • Member of the Group Executive Team since 2016, employed by the UPM Group since 2001 • UPM shares 66,036 • Executive Vice President, UPM Plywood • M.Sc. (Eng.) • Born 1958, Finnish citizen • Member of the Group Executive Team since 2013, employed by the UPM Group since 1985 • UPM shares 63,467

•Member of the Group Executive Team since 2001, employed by the UPM Group since 1987 •UPM shares 504,710

Jussi Pesonen

Jaakko Nikkilä

•Chief Financial Officer, Executive Vice President, UPM Energy •M.Sc. (Tech.), MBA •Born 1963, Finnish citizen •Member of the Group Executive Team since 2008, employed by the UPM Group since 2005 •UPM shares 184,755 •Executive Vice President, UPM Biorefining •Ph.D. (Eng.) •Born 1965, German citizen •Member of the Group Executive Team since 2013, employed by the UPM Group since 1998 •UPM shares 101,661

CFO since 2010. President, Energy and Pulp Business Group 2008–2010. Vice President, Corporate Development and Senior Vice President, Strategy, UPM 2005–2008. Several management positions at Jaakko Pöyry Consulting in Finland and North America 1991–1998 and 1999–2005. A.T. Kearney in Finland 1998– 1999 and McKinsey & Company in Sweden 1988–1990. Chair of the Board of Pohjolan Voima Oy. Vice Chair of the Board of Kemijoki Oy. Board member of Teollisuuden Voima Oyj. Supervisory Board member of Varma Mutual Pension Insurance Company. Executive Vice President, UPM Specialty Papers 2016–2019. Executive Vice President, UPM Paper 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 UPM Nordland Papier 1998– 2005. Senior Process Engineer, International Paper Co. 1996–1998. Supervisory Board member of Johann Bunte Bauunternehmung GmbH & Co. KG. Advisory Board member of Meyer Turku Oy. Executive Vice President, Corporate Communications 2004–2013. Vice President, Corporate Communications of UPM 2003. Several positions in Communications in Finnpap and UPM Paper Division 1985–2002. Board member of the Finnish Forest Industries Federation (FFIF). Member of S-Group’s CSR and Sustainability Advisory Group. Member of the Board of Trustees in WWF Finland. Member of the Advisory Board of Deutsch-Finnische Handelskammer. Board member of Satalinna Foundation. Chair of the Board of UPM-Kymmene Cultural Foundation. Member of the Board of Governors of the Association for Finnish Work. Senior Vice President, EMEIA, UPM Raflatac 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. Board member of Vaisala Corporation.

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 within the UPM Group in the Printing Papers Division 1984–2001. Deputy member 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.

Tapio Korpeinen

Jyrki Ovaska

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 Nokia Mobile Phones, Salo Operations 1995– 2000. Human Resources positions at ABB 1990–1994. Supervisory Board member of Ilmarinen Mutual Pension Insurance Company. 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. Senior Vice President, Newspaper Publishing, UPM Paper ENA 2013–2016. Several leadership positions in the UPM paper business 2001–2013. Project Manager, Investments, Haindl Papier GmbH 1993–2001. Project Engineer, Hoer biger 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). Board member of the Confederation of European Paper Industries (CEPI) and the Federation of German Industries (BDI).

Bernd Eikens

Riitta Savonlahti

•Executive Vice President, Stakeholder Relations •M.A. •Born 1960, Finnish citizen

•Member of the Group Executive Team since 2004, employed by the UPM Group since 1985 •UPM shares 101,358

Pirkko Harrela

Winfried Schaur

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

•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 the UPM Group since 2014 •UPM shares 37,341

Antti Jääskeläinen

Mika Sillanpää

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 Board member of Kemijoki Oy.

• General Counsel • LL.M. • Born 1962, Finnish citizen • Member of the Group Executive Team since 2008, employed by the UPM Group since 2005 • UPM shares 82,988

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, Strategy • M.Sc. (Eng.) • Born 1971, Finnish citizen • Member of the Group Executive Team since 2013, employed by the UPM Group since 2007 • UPM shares 51,065

Kari Ståhlberg

Juha Mäkelä

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UPM ANNUAL REPORT 2020

UPM ANNUAL REPORT 2020

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