UPM-Kymmene - Company Announcement

The plans 2015–2017 within UPM share incentive programmes and share delivery under plans 2012–2014

UPM-Kymmene Corporation   Stock Exchange Release   25 February 2015 at 10:00 EET

The plans 2015-2017 within UPM share incentive programmes and share delivery
under plans 2012-2014 

UPM's Board of Directors has approved the commencement of new plans for the
period 2015-2017 within the company's two long-term share incentive programmes:
the Performance Share Plan and the Deferred Bonus Plan. 

The long-term share incentive programmes consist of annually commencing new
plans subject to the approval of the Board of Directors of UPM in each case. 

The earning criterion for the earning period 2015-2017 of the Performance Share
Plan is the total shareholder return during 2015-2017. 

The earning criteria for the Deferred Bonus Plan are based on the Group and
each business area's EBITDA. The plan for the period 2015-2017 consists of a
one-year earning period (2015) and a two-year restriction period following
thereafter (2016-2017). 

The share incentive plans for the period 2015-2017 cover in total approximately
380 participants. In case all the set performance targets are met in full, the
estimated total maximum number of shares to be delivered under these plans is
approximately 1,680,000 shares. The above indicated estimate of the maximum
share rewards represents the gross value of the rewards of which the applicable
taxes will be deducted before the shares are delivered to the participants. 

Share delivery will be executed by using already existing shares and the plans,
therefore, have no dilutive effect. Besides the attainment of the performance
criteria the share reward under both plans is subject to the continuation of
the employment. The share rewards earned on the basis of the plans for the
period 2015-2017 will be delivered in 2018. 

Under Performance Share Plan 2012-2014, a total of 238,387 shares were earned,
which corresponds to 22.3% achievement of performance targets. The number of
earned shares under Deferred Bonus Plan 2012-2014 amounted to 616,584 shares.
The shares were delivered to the plan participants on 24 February 2015. 

For further information please contact:
Riitta Savonlahti, Executive Vice President, Human Resources, tel. +358 204 15
0048 

UPM-Kymmene Corporation
Pirkko Harrela
Executive Vice President, Stakeholder Relations


UPM, Media Desk
9.00-16.00 EET
tel. +358 40 588 3284
media@upm.com

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Through the renewing of the bio and forest industries, UPM is building a
sustainable future across six business areas: UPM Biorefining, UPM Energy, UPM
Raflatac, UPM Paper Asia, UPM Paper Europe and North America and UPM Plywood.
Our products are made of renewable raw materials and are recyclable. We serve
our customers worldwide. The group employs around 20,000 people and its annual
sales are approximately EUR 10 billion. UPM shares are listed on NASDAQ OMX
Helsinki. UPM - The Biofore Company - www.upm.com