UPM-Kymmene Corporation    Stock Exchange Release (Flagging Release)    20 September 2019 at 13:45 EET

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

UPM-Kymmene Corporation has on 19 September 2019 received an announcement under Chapter 9, Section 5 of the Securities Markets Act, according to which BlackRock, Inc.'s indirect shareholding of UPM shares and voting rights has gone below the threshold of 5 per cent on 18 September 2019.

According to the announcement, BlackRock, Inc.’s indirect shareholding in UPM has decreased to 26,437,240 shares, corresponding to 4.95 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 5.18 per cent on 18 September 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 reached4.95%0.22%5.17%
Position of previous notification (if applicable)5.18%0.30%5.48%

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 sharesNumber of shares and voting rightsNumber 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 26,437,240 4.95%
SUBTOTAL A 26,437,240 4.95%

B: Financial Instruments according to SMA 9:6a

Type of financial instrumentExpiration dateExercise/Conversion periodPhysical or cash settlementNumber of shares and voting rights% of shares and voting rights
Securities LentN/AN/APhysical683,4520.12%
CFDN/AN/ACash516,8810.09%
   SUBTOTAL B1,200,3330.22%

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 instrumentsTotal 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 Capital 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
Mon-Fri 9:00-16:00 EET
tel. +358 40 588 3284
media@upm.com

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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