The Court of Appeal dismissed the claim of Metsähallitus

(UPM, Helsinki, 21 May 2018 at 11:00 EET) - The Helsinki Court of Appeal has today rendered a judgement whereby it has dismissed the damages claim of Metsähallitus against UPM, Stora Enso Corporation and Metsäliitto Cooperative. The claim was based on the competition restriction concerning the raw wood market during 1997-early 2004 found by the Market Court decision of 3 December 2009. Also the Helsinki District Court had previously rejected Metsähallitus' claim in its judgement on 22 June 2016.

The Court of Appeal ordered Metsähallitus to compensate UPM for its legal expenses.

According to Metsähallitus' claim, the forest industry companies had caused damage to Metsähallitus on the basis of the competition restriction found by the Market Court decision of 3 December 2009. The capital amount of Metsähallitus' claim was in total approximately EUR 124.9 million, of which approximately EUR 17.6 million was based on agreements between Metsähallitus and UPM.

UPM agrees with the Court of Appeal's ruling. UPM maintains that it has not caused the alleged damage to Metsähallitus. Metsähallitus may request leave to appeal from the Supreme Court concerning the Court of Appeal's judgement.

For further information please contact:
Juha Mäkelä, General Counsel, UPM, tel. +358 20 415 0407

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

UPM
UPM leads the forest-based bioindustry into a sustainable, innovation-driven and exciting future across six business areas: UPM Biorefining, UPM Energy, UPM Raflatac, UPM Specialty Papers, UPM Communication Papers and UPM Plywood. UPM provides sustainable and safe solutions to the growing global consumption. Products are made of renewable and recyclable materials. The group employs around 19,100 people worldwide and its annual sales are approximately EUR 10 billion. UPM shares are listed on NASDAQ OMX Helsinki. UPM - The Biofore Company - www.upm.com