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

A diverse and inclusive working culture

We develop an organizational culture and local conditions that ensure a diverse and inclusive working environment.

Promoting diversity and inclusion in the workplace is the right thing to do and a pre requisite for business success and a healthy working environment. Different perspec tives improve decision-making and business performance. At UPM, all employees are treated as individuals, regardless of gender, age, disability, sexual orientation, ethnic or igin or nationality. We welcome people with different competencies and backgrounds to join our global team. We respect our employees’ privacy and promote equal opportunity and objectivity in employment and career development. Diversity and inclusion are part of our Aiming Higher mindset and our cultural development. Three action areas Our Diversity and Inclusion initiatives are divided into three areas: 1. Commitment to diversity and inclusion 2. Creating and leading an inclusive culture 3. Regularly reviewing our data and processes We are committed to developing a diverse and inclusive workplace. In 2016, we signed the EU Diversity Charter. Our commitment and expectations regarding diversity and in clusion, as well as transparent recruitment, are outlined in the UPM Code of Conduct and other company policies. In recent years, we have worked system atically to increase diversity and inclusion at UPM. Our diversity and inclusion-related Our commitment to diversity and inclusion

In 2024, we participated in Workplace Pride's annual assessment of the LGBTIQ+ practices in companies. Network members and the core team plan activities to support the community and raise awareness at UPM. In 2025, the BeU Employee Resource Group for LGBTIQ+ issues continued to be active and contributed to the implementation of the Safe Contacts concept. We integrate inclusive behavior into our leadership development programs and UPM Code of Conduct training. Since 2022, we have measured inclusive leadership, i.e., how UPM’s leaders value different perspec tives. The results of the 2025 Employee En gagement Survey (EES) remain unchanged from 2024. Inclusive leadership will contin ue to be a development area for us. We have set a target for a sense of belonging, benchmarking ourselves against the top 10% of companies. Our EES also measures authenticity, or feeling comforta ble being oneself, and fair treatment. These are important strengths that we monitor on an ongoing basis. Regular monitoring We regularly review our diversity status and data. Our management teams conduct self-assessments on diversity and inclusion. Managers and HR have dashboards with diversity data. We also consistently follow up processes such as rewarding and recruitment, and we also report progress regularly to several external indices.

social responsibility targets focus on our employees’ sense of belonging and the rep resentation of women in professional and managerial roles. We have set an ambitious target of reaching 40% female representa tion by 2030. With this increased diversity, we aim to develop our leadership capabilities. Our situation varies by organization. Each business and function therefore requires its own targets and plans to increase female representation. According to our analysis, men and women have equal opportunities to advance at UPM. Since 2021, we have conducted an annual gender pay equity review to address the gender pay gap unxplained by factors typically determining salaries and their development. We will continue to monitor this annually and make adjustments where necessary. In 2023, we joined the UN Forward Faster Initiative on gender equality. Creating and leading an inclusive culture To further develop inclusive leadership and a culture of inclusion, we continued our dialogue with management teams in busi nesses and functions in 2025. Since 2019, about 3,500 people have participated in the dialogue. In recent years, we have expanded our understanding of how to lead diverse teams and developed awareness of LGBTIQ+ diversity and inclusion in the workplace. UPM is a member of Workplace Pride and offers training in this topic for all UPMers. More than 1,000 people have completed the training.

Women managers 26% +1pp

Age-diverse teams 57% +2pp

Multinational teams 29% +2pp

countries 42 in 85 Nationalities

Men 76% Shop-floor 55%

Women 24% Salaried 45%

Employee Engagement Survey results

Authenticity score 80 +1

Fair Treatment score 75 +1

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UPM Annual Report 2025

UPM Annual Report 2025