UPM renews its long-term financial targets. In the new targets • the business area return targets and the comparable ROE target have been increased. • comparable EBIT growth has been introduced as a new group-level target • a new financial policy on leverage based on net debt/EBITDA has been introduced • the cash flow-based dividend policy remains unchanged. click Read More below for additional detail

2016 highlights: •Comparable EBIT increased by 25% to EUR 1,143 million (916 million). •Growth projects contributed significantly to earnings and cost efficiency measures continued on a strong track. •Operating cash flow reached a record high of EUR 1,686 million (1,185 million). •Net debt decreased to a record low of EUR 1,131 million (2,100 million). •UPM closed the Madison Paper Industries in the US in May and sold the Schwedt newsprint mill in Germany in July. •In July, UPM announced expansion of the UPM Kymi pulp mill capacity to 870,000 tonnes. click Read More below for additional detail

In the Packaging segment, total corrugated products shipments were up 9.7%, or 11.5% per workday, over last year’s fourth quarter. Packaging segment price and mix was lower compared to the fourth quarter of 2015 and up compared to the third quarter of 2016. Containerboard production was 962,000 tons, and containerboard inventory was flat compared to year-end 2015 levels. Paper segment price and mix was higher than the fourth quarter of 2015 and flat compared to the third quarter of 2016. Paper volume was lower compared to the fourth quarter of 2015, primarily due to the previously announced fourth quarter shutdown of market pulp operations at our Wallula Mill, and down versus the seasonally stronger third quarter of 2016. click Read More below for additional detail

Domtar Corporation will make significant infrastructure and equipment upgrades at its facilities in Johnsonburg, Elk County, and DuBois, Clearfield County, Pennsylvania. The company plans to invest $25.3 million in projects at the two facilities. The company has committed to retention of 438 existing, full-time positions over the next three years. To remain globally competitive, Domtar plans to convert the energy supply at its paper mill at 100 Center Street, Johnsonburg Borough, Elk County, from coal to natural gas to improve the mill’s energy and water reduction, and to upgrade the facility’s boilers, turn up devices, causticizers, liquor retention tank, and threading equipment. Upgrades for the Domtar facility at 377 Satterlee Road, Sandy Township, Clearfield County, include incorporating folio palletizer controls, shrink wrapped ream packaging, and rewinder shipping dock levelers. click Read More below for additional detail