UPM Kymmene : BlackRock's shareholding in UPM has gone above the threshold of 5 per cent

Stock Exchange Release, Flagging Release22.3.2019 16:50 EET

UPM-Kymmene Corporation Stock Exchange Release (Flagging Release) 22 March 2019 at 16:50 EET

BlackRock's shareholding in UPM has gone above the threshold of 5 per cent

UPM-Kymmene Corporation has on 22 March 2019 received an announcement under Chapter 9, Section 5 of the Securities Markets Act, according to which BlackRock, Inc.'s indirect holding of UPM shares and voting rights has gone above the threshold of 5 per cent on 21 March 2019.

According to the announcement, BlackRock, Inc.'s indirect shareholding in UPM has increased to 27,373,332 shares, corresponding to 5.12 per cent of UPM shares and voting rights. The total number of UPM shares and voting rights owned directly or through financial instruments by BlackRock, Inc. and its funds was 5.47 per cent on 21 March 2019. UPM's registered total number of shares and voting rights amounting to 533,735,699 has been used in the calculation of percentages for the announcement.

Total positions of BlackRock, Inc. and its funds:

	% of shares and voting rights (total of A)	% of shares and voting rights through financial instruments (total of B)	Total of both in % (A + B)
Resulting situation on the date on which threshold was crossed or reached	5.12%	0.35%	5.47%
Position of previous notification (if applicable)	4.98%	0.47%	5.45%

Notified details of the resulting situation on the date on which the threshold was crossed or reached:

A: Shares and voting rights

Class/type of shares	Number of shares and voting rights	Number of shares and voting rights	% of shares and voting rights	% of shares and voting rights
ISIN code (if possible)	Direct (SMA 9:5)	Indirect (SMA 9:6 and 9:7)	Direct (SMA 9:5)	Indirect (SMA 9:6 and 9:7)
FI0009005987		27,373,332		5.12%
SUBTOTAL A		27,373,332		5.12%

B: Financial Instruments according to SMA 9:6a

Type of financial instrument	Expiration date	Exercise/Conversion period	Physical or cash settlement	Number of shares and voting rights	% of shares and voting rights
Securities Lent	N/A	N/A	Physical	1,407,965	0.26%
CFD	N/A	N/A	Cash	463,009	0.08%
Depositary Receipt	N/A	N/A	Physical	99	0.00%
			SUBTOTAL B	1,871,073	0.35%

Full chain of controlled undertakings through which the voting rights and financial instruments are effectively held:

Name	% of shares and voting rights	% of shares and voting rights through financial instruments	Total of both
BlackRock Japan Co., Ltd.			Below 5%
BlackRock Investment Management, LLC			Below 5%
BlackRock Investment Management (UK) Limited			Below 5%
BlackRock Investment Management (Australia) Limited			Below 5%
BlackRock International Limited			Below 5%
BlackRock Institutional Trust Company, National Association			Below 5%
BlackRock Fund Advisors			Below 5%
BlackRock Financial Management, Inc.			Below 5%
BlackRock Asset Management North Asia Limited			Below 5%
BlackRock Asset Management Deutschland AG			Below 5%
BlackRock Asset Management Canada Limited			Below 5%
BlackRock Advisors, LLC			Below 5%
BlackRock Advisors (UK) Limited			Below 5%
BlackRock (Singapore) Limited			Below 5%
BlackRock (Netherlands) B.V.			Below 5%

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

UPM, Media Relations
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UPM
We deliver renewable and responsible solutions and innovate for a future beyond fossils across six business areas: UPM Biorefining, UPM Energy, UPM Raflatac, UPM Specialty Papers, UPM Communication Papers and UPM Plywood. We employ around 19,000 people worldwide and our annual sales are approximately EUR 10.5 billion. Our shares are listed on Nasdaq Helsinki Ltd. UPM Biofore - Beyond fossils. www.upm.com

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