Q3 2020 highlights • Sales decreased by 19% to EUR 2,028 million (2,493 million in Q3 2019) due to lower deliveries of graphic papers and lower pulp and paper prices • Comparable EBIT was EUR 215 million, 10.6% of sales (342 million, 13.7%), down 37% year-over-year • Operating cash flow was EUR 365 million (500 million) • Closures of UPM Chapelle paper mill and UPM Jyväskylä plywood mill • Announced the closure of UPM Kaipola paper mill, plans for selling UPM Shotton paper mill and streamlining in several businesses and functions. Q1–Q3 2020 highlights • Sales decreased by 18% to EUR 6,392 million (7,791 million in Q1–Q3 2019) due to lower deliveries of graphic papers and lower pulp and paper prices • Comparable EBIT was EUR 697 million, 10.9% of sales (1,061 million, 13.6%), down 34% year-over-year • Operating cash flow was EUR 659 million (1,256 million) • Net debt was EUR 89 million (-2 million)• UPM's transformative pulp project in Uruguay and biochemicals project in Germany are well on track with the planned start-up timeline

A nitrile glove manufacturer will take over the shuttered mill in Chillicothe, one local source and one state government source have shared with the Statehouse News Bureau. U.S. Medical Glove Company, an Illinois-based company, is currently closing on the sale of the site, each source said. The sale is not yet reflected in the Ross County Auditor’s Records. The move could come with as many as 550, likely non-union, jobs—and manufacturing of surgical and exam gloves and boxes for gloves could start as soon as three weeks from Thursday.

Financial summary for the quarter: EBITDA excluding special items US$211 million (Q2 2017 US$208 million). Profit for the period US$102 million (Q2 2017 US$88 million). EPS excluding special items 17 US cents (Q2 2017 17 US cents). Acquisition of Cham speciality paper business completed. Net debt US$1,632 million (Q2 2017 US$1,329 million). Click Read More below for additional information.