## 2014 AnnUAL RepORt 

UFP Technologies, Inc. (Nasdaq: UFPT) is a producer of innovative custom-engineered components, products, and specialty packaging. 

Using foams, plastics, composites, and natural fiber materials, we design and manufacture a vast range of solutions primarily for the medical, automotive, aerospace and defense, electronics, consumer and industrial markets. Our team acts as an extension of customers’ in-house research, engineering, and manufacturing groups, working closely with them to solve their most complex product and packaging challenges. 

Learn more about us at www.ufpt.com. 

## COntents 

CeO’s Letter 2 

selected Financial Data 8 

 Management’s Discussion and Analysis of Financial Condition and Results of Operations 9 

Financial statements 17 

stockholder Information 36 

