Trading at alternative marketplaces

Alternative Exchanges Monitor

In addition to the NASDAQ Helsinki Ltd., UPM shares are traded on several alternative market places, for example Chi-X, BATS, Burgundy and Turquoise. In this monitor you can follow trading in UPM shares on these alternative exchanges.

We are aware of unsponsored ADR programmes established from time to time in respect of our shares. We have not sponsored their creation and any questions should be directed to the relevant depositary.

UPM has not and does not intend to offer or sell its Ordinary Shares or other securities (in the form of ADRs or otherwise) to the general public in the United States nor has it listed or intend to list its Ordinary Shares or other securities on any national securities exchange in the United States or to encourage the trading of its Ordinary Shares on any over the counter market located in the United States. UPM does not make arrangements to permit the voting of Ordinary Shares held in the form of ADRs and its publication of periodic financial and other information is not intended to facilitate the operation of any unsponsored ADR programme under Rule 12g3-2(b) of U.S. Securities Exchange Act, as amended, or otherwise.