UPM-Kymmene (UPM) AGM 2021 summary

Opening remarks and agenda

• AGM held in Helsinki on 30 March 2021; in-person attendance was restricted to prevent Covid-19 spread, with 2,542 shareholders representing ~289 million shares and votes.

• Shareholders supported all proposals from the Board and its Nomination and Governance Committee.

Financial performance review

• FY2020 financial statements were adopted, and Board members and the President and CEO were discharged from liability for the 2020 financial period.

Board and executive committee updates

• Board size set at nine, down from ten; Berndt Brunow, Henrik Ehrnrooth, Emma FitzGerald, Piia-Noora Kauppi, Marjan Oudeman, Martin à Porta, Kim Wahl and Björn Wahlroos were re-elected; Jari Gustafsson was elected.

• Ari Puheloinen and Veli-Matti Reinikkala stepped down; directors’ terms run until the close of the next AGM.