UPM Annual Report 2025

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Sustainability Statement

Report of the Board of Directors

Financial Statements

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Sustainability Assurance Reports

Template 1: Proportion of turnover, CapEx, OpEx from products or services associated with Taxonomy-eligible or Taxonomy-aligned economic activities - disclosure covering year 2025 (summary KPIs)

CapEx

Reported KPI

CapEx

Financial year

2025

Financial year

Environmental objectives of Taxonomy- aligned activities

2025

Taxonomy- eligible KPI (Proportion of Taxonomy-

Taxonomy- aligned KPI (Proportion of Taxonomy -aligned CapEx)

Taxonomy- aligned KPI (monetary

Proportion of Taxonomy- aligned in Taxonomy- eligible

Climate Change

Climate Change

Breakdown by environmental objectives of Taxonomy-aligned activities

Biodiversity

Proportion of Taxonomy -aligned activities in

Adaptation

Enabling activity

Transitional activity

Mitigation

Economy

Pollution

Economic Activities

Code

Circular

Water

Taxonomy -aligned activities in

value of CapEx)

Not assessed activities considered non material

Proportion of Taxonomy -aligned activities

Proportion of Taxonomy -eligible activities

eligible CapEx)

Proportion of transitional activities

Proportion of enabling activities

Taxonomy -aligned activities

Climate Change

Climate Change

Biodiversity

previous financial year 2024

KPI

Total

Adaptation

Mitigation

Economy

Pollution

Circular

Water

previous financial year 2024

%

€ million

% % % % % % %

E

T

%

Afforestation

CCM 1.1

1%

Forest management

CCM 1.3

10%

€ million

% € million

% % % % % % % %

%

% € million

%

Manufacture of other low carbon technologies Electricity generation from hydropower Manufacture of biogas and biofuels for use in transport and of bioliquids

CCM 3.6

42%

259

42% 42%

E

100%

Turnover

9,656

8%

689

7% 7%

4%

3%

92%

774

7%

CapEx

621

57%

284

46% 46%

46%

43%

324

40%

CCM 4.5

2%

11

2% 2%

E

100%

OpEx

668

17%

88

13% 13%

5%

8%

83%

71

11%

CCM 4.13

2%

14

2% 2%

E

100%

Template 2: Proportion of turnover, CapEx, OpEx from products or services associated with Taxonomy-eligible or Taxonomy-aligned economic activities - disclosure covering year 2025 (activity breakdown)

Sum of alignment per objective

46%

Total KPI (CapEx)

57%

284

46% 46%

46%

81%

Turnover

OpEx

Reported KPI

Turnover

Reported KPI

OpEx

Financial year

2025

Environmental objectives of Taxonomy aligned activities

Financial year

2025

Taxonomy - eligible KPI (Proportion of Taxonomy- eligible Turnover)

Taxonomy- aligned KPI (Proportion of Taxonomy aligned Turnover)

Environmental objectives of Taxonomy- aligned activities

Taxonomy- aligned KPI (monetary value of Turnover)

Proportion of Taxonomy- aligned in Taxonomy- eligible

Climate Change

Climate Change

Taxonomy- eligible KPI (Proportion of Taxonomy- eligible OpEx)

Taxonomy- aligned KPI (Proportion of Taxonomy- aligned OpEx)

Biodiversity

Enabling activity

Transitional activity

Adaptation

Taxonomy- aligned KPI (monetary value of OpEx)

Proportion of Taxonomy- aligned in Taxonomy- eligible

Mitigation

Economic Activities

Code

Economy

Pollution

Climate change

Climate change

Circular

Water

Biodiversity

Adaptation

Enabling activity

Transitional activity

Mitigation

Economy

Pollution

Economic Activities

Code

Circular

Water

%

€ million

% % % % % % %

E

T

%

%

€ million

% % % % % % %

E

T

%

Forest management

CCM 1.3

1%

Forest management

CCM 1.3

4%

Manufacture of other low carbon technologies Electricity generation from hydropower Manufacture of biogas and biofuels for use in transport and of bioliquids Construction and safe operation of new nuclear power plants, for the generation of electricity or heat, including for hydrogen production, using best-available technologies

CCM 3.6

0%

18

0% 0%

E

100%

Manufacture of other low carbon technologies Electricity generation from hydropower Manufacture of biogas and biofuels for use in transport and of bioliquids Construction and safe operation of new nuclear power plants, for the generation of electricity or heat, including for hydrogen production, using best-available technologies

CCM 3.6

3%

21

3% 3%

E

100%

CCM 4.5

1%

115

1% 1%

E

100%

CCM 4.5

1%

4

1% 1%

E

100%

CCM 4.13

3%

267

3% 3%

E

100%

CCM 4.13

1%

9

1% 1%

E

100%

T

CCM 4.27

1%

125

1% 1%

100%

CCM 4.27

5%

34

5% 5%

T

100%

Electricity generation from nuclear energy in existing installations

T

Electricity generation from nuclear energy in existing installations

CCM 4.28

2%

164

2% 2%

100%

CCM 4.28

3%

20

3% 3%

T

100%

Sum of alignment per objective

7%

Sum of alignment per objective

13%

Total KPI (Turnover)

8%

689

7% 7%

4%

3%

92%

Total KPI (OpEx)

17%

88

13% 13%

5%

8%

77%

UPM Financial Report 2025

172

UPM Financial Report 2025

173

172

173

UPM Annual Report 2025

UPM Annual Report 2025