UPM-Kymmene Corporation Annual Financial Report  March 4, 2026 at 9:15 EET

UPM Annual Report 2025, Corporate Governance Statement and Remuneration Report published

UPM's Annual Report 2025 has been published in English and Finnish at upm.com and upm.fi. The Annual Report includes the company's Financial Statements and the Report of the Board of Directors and the Sustainability Statement as well as the Corporate Governance Statement and the Remuneration Report.

The Financial Statements and Report of the Board of Directors for the year 2025 have been published in xHTML format, in accordance with European Single Electronic Format (ESEF) reporting requirements. In line with ESEF requirements, the primary statements and notes of the consolidated financial statements have been labeled with XBRL tags. Ernst & Young Oy, the audit firm, has provided an independent auditor's report on the ESEF financial statements based on a reasonable assurance engagement in accordance with the International Standard on Assurance Engagements (ISAE) 3000.

As part of the Report of the Board of Directors, UPM has published its statutory Sustainability Statement based on the EU Corporate Sustainability Reporting Directive (CSRD). Ernst & Young Oy has assured the report at a limited assurance level. UPM reports on sustainability in accordance with the Global Reporting Initiative (GRI) standards and provides an IFRS S1 and S2 alignment index with the Sustainability Statement.

UPM has published its Corporate Governance Statement and Remuneration Report for the financial year 2025. The Remuneration Report for governing bodies details the remuneration of the directors and the President and CEO. The 2025 Remuneration Report will be presented at the Annual General Meeting on April 9, 2026. Both the Corporate Governance Statement and the Remuneration Report are available on the corporate website at upm.com/governance in the Investors section under Governance.

In 2025, UPM continued its strategic transformation with major portfolio decisions. These portfolio initiatives would change the company's profile and increase its focus on growth. The Annual Report provides comprehensive information on how UPM seeks profitable and sustainable growth by improving competitiveness and through world-class businesses. UPM's strong and balanced business portfolio in renewable fibres, advanced materials and decarbonization solutions will provide several attractive growth opportunities.

The Annual Report, the Corporate Governance Statement and the Remuneration Report can be downloaded as PDF files in English and Finnish. The Financial Statements and the Report of the Board of Directors, including the Sustainability Statement can be downloaded as an xHTML file. All of these documents are available at upm.com/annualreport and upm.com/vuosikertomus and they are also attached to this release.

Attachments
Annual report 2025
Financial Statements and Report of the Board of Directors for the year 2025 in xHTML format
Corporate Governance Statement 2025
The Remuneration Report 2025

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UPM
UPM is a material solutions company, renewing products and entire value chains with an extensive portfolio of renewable fibres, advanced materials, decarbonization solutions, and communication papers. Our performance in sustainability has been recognized by third parties, including EcoVadis and the Dow Jones Sustainability Indices. We operate globally and employ approximately 15,100 people worldwide, with annual sales of approximately €9.7 billion. Our shares are listed on Nasdaq Helsinki Ltd.
UPM - we renew the everyday
Read more: upm.com

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