UPM Annual Report 2025

We are UPM

Governance

Accounts and performance

Sustainability Statement

Report of the Board of Directors

Financial Statements

Auditor's Report

Sustainability Assurance Reports

Headcount by country (with more than 50 employees)

Headcount by region

followed up monthly. Benchmark comparisons are used for specific indicators, referring to the survey provider’s Global Benchmark, which is based on survey data compiled from all of the provider’s customers. The targets “among the top 10% of benchmark companies” refer to the survey provider’s Global High Performing Benchmark, representing the top 10th percentile. Metrics Characteristics of UPM's employees

Americas

Asia

Europe Rest of the world

Total

Number of employees (headcount) 2025

Number of employees (headcount) 2024

Gender

Number of employees (headcount)

1,775

1,697

11,578

77

15,127

Finland

5,866

6,222

Number of permanent employees (headcount)

1,754

1,384

10,739

75

13,952

Germany

3,134

3,390

Number of temporary employees (headcount)

18

309

835

2

1,164

United Kingdom

582

445

Number of non-guaranteed hours employees (headcount)*

0

0

38

0

38

Poland

1,268

1,270

Number of full-time employees (headcount)

1,742

1,692

11,104

75

14,613

France

165

197

Number of part-time employees (headcount)

30

1

470

2

503

Austria

6

7

*Of all the countries in which UPM operates, only Finland currently uses the term 'non-guaranteed hours employees'. UPM is currently collecting information about whether such employees exist in other countries. For Finland, the number of such employees is very small, and reporting on these employees is therefore not considered material.

Estonia

260

263

S1-6

Spain

64

64

Employee turnover

Characteristics of non-employees in UPM's own workforce

Headcount by gender

China

1,371

1,513

United States

719

745

2025

2024

Number of employees (headcount) 2025

Number of employees (headcount) 2024

Uruguay

887

874

Total number of employees who left UPM

Gender

1,980

2,148

S1-7

Malaysia

163

162

Male*

11,441

11,989

Rate of employee turnover

13.1%

13.6%

South Africa

30

39

Female*

3,673

3,835

Headcount of non-employees

Mexico 133 Refer to » Report of the Board of Directors, Key figures: personnel at the end of period. 124

Not disclosed*

2

3

2025

2024

Reporting principles for metrics

Not reported**

11

0

Total number of non-employees (agency-hires) in UPM's own workforce

Total employees

15,127

15,827

Employee figures are based on UPM's global total headcount definition, including employees classified as active and inactive, and are calculated as heads unless otherwise stated. Headcount is calculated at the end of the reporting period. All types of contracts are divided into two categories: permanent and temporary ("fixed-term" in GRI and UPM terminology). Permanent contracts include all contracts valid until further notice, as well as employees not covered by employment contracts, such as in the U.S., where all employees are classified as "Employment at Will". Turnover is calculated based on the number of all types of terminations, whether voluntary or involuntary (number of persons leaving Jan. 1–Dec. 31/Total headcount Dec. 31). Contextual information In 2025, UPM Communication Papers closed its Kaukas paper mill in Finland and its Ettringen paper mill in Germany. UPM Adhesive Materials transferred production from the Kaltenkirchen site in Germany to other European sites and decided to convert the Nancy factory in France into a slitting and distribution terminal in 2026. As part of a long-term strategic partnership, UPM Fibres sold its Korkeakoski sawmill in Finland to Versowood. In 2025, UPM also exited the biomedical business. In February 2025, UPM Adhesive Materials acquired Metamark, a UK-based company with a manufacturing site in Lancaster. UPM's total headcount figure includes 11 employees for whom the employee-related data is not yet maintained in UPM systems. These employees are included in the total headcount and the headcount by country but are otherwise defined as "not reported".

409

344

*Gender as reported by the employee. At UPM, employees can choose the gender they report. UPM does not have visibility of the legal gender of its employees. ** Employee-related data is not yet maintained in UPM systems

The number of agency hires has been fairly stable throughout the year and over the years.

Headcount by gender and contract type

Reporting principles for metrics

Female*

Male*

Not disclosed*

Not reported

Total

Number of employees (headcount)

3,673

11,441

2

11

15,127

UPM's non-employees consist of two categories: independent contractors; and agency hires. Independent contractors are self employed individuals who provide services or labor to UPM and are bound by a direct contractual arrangement other than a contract of employment. UPM currently estimates that the number of such independent contractors in UPM is very small and therefore not material to report. Agency hires are individuals employed by employment agencies or labor contractors to work at UPM's sites under UPM's direct supervision. Agency hires are not directly employed by UPM. The most common type of non-employees are agency-hired employees, who are provided to UPM by companies whose main activity is employment. Agency-hired employees do not have an employment contract with UPM and are not included in UPM's official employee figures. Examples of the types of work they perform are: production operators; mechanical technicians; automation technicians; forklift truck operators; quality operators; and converting department operators; finishing department operators; coating department operators; or administration and finance specialists. UPM has made an internal survey across all sites to gather information about the number of independent contractors. The number of independent contractors is very small, thus they are not material to report.

Number of permanent employees (headcount) Number of temporary employees (headcount) Number of non-guaranteed hours employees (headcount)** Number of full-time employees (headcount) Number of part-time employees (headcount)

3,338

10,612

2

—

13,952

335

829

0

—

1,164

9

29

0

—

38

2

—

14,613

3,429

11,182

244

259

0

—

503

*Gender as reported by the employee. At UPM, employees can choose the gender they report. UPM does not have visibility of the legal gender of its employees. **Of all the countries in which UPM operates, only Finland currently uses the term 'non-guaranteed hours employees'. UPM is currently collecting information about whether such employees exist in other countries. For Finland, the number of such employees is very small, and reporting the number is therefore not considered material.

UPM Financial Report 2025

216

UPM Financial Report 2025

217

216

217

UPM Annual Report 2025

UPM Annual Report 2025