UPM Annual Report 2024

WE ARE UPM

GOVERNANCE

ACCOUNTS AND PERFORMANCE

Our strategy

Our businesses

Sustainability

CREATING VALUE FOR PEOPLE AND SOCIETY

Our digital learning content and online programmes encourage individuals to strengthen their self-leadership and support leaders in enabling their teams to perform and grow. We offer e-learning content to develop skills in areas such as commerce, sourcing, finance, compliance, safety, leader ship and design thinking. We set forward-looking goals We want to strengthen employees’ sense of belonging and meaningful work. This drives productivity, engagement and wellbeing. We set individual strategy-related goals for all employees worldwide. Regular one-to one discussions between managers and their team members provide opportunities to ask for, give and receive feedback on perfor mance and individual development. Our leadership At UPM, we aim to strengthen the leadership culture based on UPM’s values and the Aim ing Higher mindset, which enables everyone to grow, perform and achieve business results. We invest in leadership development to ensure that leaders throughout UPM have the capabilities to lead themselves, people and the business. Our leadership development programmes are designed to achieve these long-term goals. The key themes in leadership development are building high-performing teams, ensuring ACTIONS IN 2024 • Update of management team development concept and leadership development portfolio. • Experimenting with AI. • Introduced new learning methods such as microlearning creation. • Continued discussions on diversity and inclusion. • Reviewed management team diversity and diversity KPIs. • Company-wide safety project con tinued. • Development of process safety competence. • Continued implementation of the UPM Health and Wellbeing concept.

People and culture Our culture of Aiming Higher encourages all UPMers to grow as individuals and as a company. Our values – Trust and be trusted, Achieve together and Renew with courage –guide us.

Our values are the foundation of who we are. We are account able, collaborative, performance-driven and forward-looking. We offer a safe and healthy working environment, interesting and meaningful work, good leadership, and ample career growth opportunities. We are committed to being a responsible and attractive employer, now and in the future. Being the employer of choice has become critical in recruiting new employees, especially younger professionals. As a result of our systematic efforts to develop our work environment, external parties have recognised our position among students and professionals in Finland and China. We develop the employee experience The UPM Experience programme is a Group-wide, multiyear effort to engage UPMers and improve the employee experience across businesses, functions and locations. As part of the pro gramme, we have enhanced our project way of working and continue to build digital capabilities for shopfloor employees as well. Developing our safety practices from employees’ perspec tive is one important area of the programme. We have engaged employees to improve safety practices in the workplace by making safety observations easy for all, for example. Expert communities enable sharing and learning across the company. We encourage UPMers to join existing expert com munities and create new ones. In communities, we can build and retain corporate knowledge on topics such as sustainabili ty, AI and citizen development.

We have run several successful graduate programmes in recent years. Our apprenticeship programmes are a way of en suring the required level of expertise for future employees. The programmes typically focus on production or maintenance work and are carried out with vocational training partners. We encourage continuous professional development and growth In an increasingly complex business environment, enhancing the skills and wellbeing of employees is important for both business success and sustained employability. All employees are encouraged to create and maintain an individual development plan. Our development planning process and tools enable em ployees to create individual development plans at least once a year – and flexibly as required. Managers ensure that the plans are relevant to the business. The aim is to support employees in keeping their passion and expertise fresh for current and future roles through continuous development. We invest in the growth of our people and expect individu als to be eager to learn and develop. Our approach to learning emphasises opportunities to learn and grow on the job, and to share knowledge with and learn from each other. One way to learn at work is to participate in gigs. These are short-term value-adding projects for which employees can use 10–20% of their working time. Gigs support employee develop ment and enable dynamic resourcing of smaller business-rele vant projects.

Promoting diversity and inclusion in the workplace is a prerequisite for our business success and a healthy working environment.

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UPM ANNUAL REPORT 2024

UPM ANNUAL REPORT 2024