UPM Annual Report 2025

We are UPM

Governance

Accounts and performance

Sustainability

UPM in brief

Our strategy

Our businesses

Creating value for people and society

Actions in 2025 • New programs on business acumen and impactful communication in UPM’s global leadership development portfolio • AI upskilling and "Let's talk AI" team discussions • Implemented microlearning creation tools • The company-wide safety project was completed • Continued to develop process safety- related competencies • Continued to implement the UPM Health and Well-being concept. • Diversity and inclusion discussions continued • Implemented the Safe Contacts concept 10–20% of their working time. Gigs support employee development and enable the dy namic resourcing of smaller, business-rele vant projects. We encourage professional development Expert communities facilitate sharing and learning across the company. We encourage UPMers to join existing expert communities

and create new ones. These communities allow us to build and retain corporate knowledge on topics such as sustainability, AI and project management. We have run several successful graduate programs in recent years. Our apprentice ship programs ensure that future employ ees have the necessary expertise. These programs typically focus on production or

maintenance work and are carried out with vocational training partners. Our digital learning content and on line programs encourage individuals to strengthen their self-leadership and help leaders to enable their teams to perform and grow. In addition to new programs that develop AI skills and business acumen, we offer digital learning in areas such as

People and culture Our Aiming Higher culture 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.

In focus

MyShare - UPM's employee share savings plan

We believe that our success is built on the dedication and commitment of our people. That’s why we introduced MyShare, a 3-year employee share savings plan that offers em ployees the opportunity to save a part of their salary and invest it in UPM shares. Participa tion is voluntary. MyShare aims to engage employees, in crease their interest in company performance and long-term value creation, and align employee and shareholder interests. The first plan, which runs from 2025 to 2028, closed for enrollment in June. Approximately 20% of employees in 29 countries enrolled. MyShare consists of a 12-month savings

period followed by a 24-month holding period. During enrollment, employees confirmed the amount of salary to be saved. During the sav ings period, savings are deducted from salary and invested in UPM shares quarterly. As an incentive for employees to invest, UPM gives participating employees a match ing reward after the holding period ends. Additionally, each employee who participated in the first plan and saved throughout the savings period will receive 10 free gross shares after the 12-month savings period. The initial idea for the share savings plan came from UPM employees who expressed interest in saving shares in their employer.

Our values are the foundation of who we are. We are accountable, collaborative, performance-driven and forward-looking. We provide a safe and healthy work envi ronment, interesting and meaningful work, good leadership, and ample opportunities for growth. We are committed to being a respon sible and attractive employer now and in the future. In recruiting new employees, especially younger professionals, being the employer of choice has become critical. As a result of our systematic efforts to develop our work environment, external

parties have recognized our position among students and professionals in Finland and China. We develop employee experience In an increasingly complex business envi ronment, it is important to enhance the skills and well-being of employees for both busi ness success and sustained employability. All employees are encouraged to create and maintain an individual development plan. Our development planning process and tools enable employees to create these plans at least once a year and as required.

Managers ensure that the plans align with business needs. Our goal is to support em ployees in maintaining their passion and ex pertise for current and future roles through continuous development. We invest in the growth of our people and expect them to be eager to learn and develop. Our approach to learning empha sizes on-the-job learning and growth, as well as sharing knowledge with and learn ing from each other. One way to learn on the job is to par ticipate in gigs. These short-term, val ue-adding projects allow employees to use

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UPM Annual Report 2025

UPM Annual Report 2025