The Board of Directors proposes to the Annual General Meeting of UPM-Kymmene Corporation to be held on 4 April 2024 that an aggregate dividend of EUR 1.50 per share be paid based on the balance sheet to be adopted For the financial year ending 31 December 2023, and that the remaining portion of the distributable funds be retained in the Company's unrestricted shareholders' equity. The Board proposes that the dividend be paid in two instalments. The First dividend instalment, EUR 0.75 per share, is proposed to be paid to shareholders registered in the Company's register of shareholders maintained by Euroclear Finland Oy on the record date for the first dividend instalment 8 April 2024.

The Board proposes that the payment date For the first dividend instalment would be on 16 April 2024. The second dividend instalment, EUR 0.75 per share, is proposed to be paid to shareholders registered in the Company's register of shareholders maintained by Euroclear Finland Oy on the record date For the second dividend instalment 31 October 2024. The Board proposes that the payment date for the second dividend instalment would be on 7 November 2024.