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Home › Companies › UPM-Kymmene Oyj › 2024-2025

UPM-Kymmene Oyj 2024-2025 Proxy Voting Records

At UPM-Kymmene Oyj's shareholder meeting held March 27, 2025, in the 2024-2025 proxy season, 78 asset managers reported how they voted in their SEC Form N-PX filings, covering 3,735 separate fund positions. Their filings are grouped here into 55 reported items; because filers word the same ballot item differently, that can be more than the number of items on the ballot. No official Form 8-K vote tally has been matched to this meeting, so this page states no certified outcome for its most widely held ballot item. On that item — Approve Remuneration Report — the reporting funds and managers cast 100% of the shares they voted in favour (FOR divided by FOR plus AGAINST plus WITHHELD; abstained and unvoted shares are excluded because neither took a side). Fund and manager reports are combined in it and may count the same shares twice: it adds fund reports to institutional-manager reports, which can cover the same shares. It is not the company's certified result.

Download data (CSV): ballot items · votes by manager · column guide.

Compiled from SEC Form N-PX filings. Page generated November 8, 2026.

  • 55Reported items
  • 78Asset managers
  • 3,735Fund votes
  • March 27, 2025Meeting date

Results at a glance

No official results are on file for this meeting: no Form 8-K tally (Item 5.07) from UPM-Kymmene Oyj has been matched to it. The figures below are the funds’ own votes from Form N-PX. They are not the meeting result, so they are not used to judge dissent.

Material dissent: a director nominee under 80% of the votes cast, say-on-pay under 70%, any other item the board put forward under 80%, or a shareholder proposal with more than 50%, on the company’s own Form 8-K tally. How this is decided

Proxy season: 2023-2024 2024-2025 2025-2026

Explore UPM-Kymmene Oyj in the interactive database Compare manager voting policies

How asset managers voted at the UPM-Kymmene Oyj 2024-2025 meeting

Each item below shows how the 78 asset managers that disclosed a UPM-Kymmene Oyj vote in their SEC Form N-PX filings actually voted. Share totals are the shares those managers' funds voted, summed across every fund they report. These are reported items, not a count of the ballot: fund filings describe one ballot item in different words. Two descriptions are shown as one item only on evidence — the same text (or one cut short of the other), the same director nominee, or a match to the same row of UPM-Kymmene Oyj’s own Form 8-K tally — never because they merely read alike. A description that could not be joined that way is listed on its own, so one ballot item can appear more than once.

1. Reelect Pia Aaltonen-Forsell, Henrik Ehrnrooth, Jari Gustafsson, Piia-Noora Kauppi, Melanie Maas-Brunner, Topi Manner…

No official resultsDIRECTOR ELECTIONS

99.1% of fund votes cast · no official result

FOR
Details: description as filed, votes by 47 asset managers

Description as filed by funds: Reelect Pia Aaltonen-Forsell, Henrik Ehrnrooth, Jari Gustafsson, Piia-Noora Kauppi, Melanie Maas-Brunner, Topi Manner, Marjan Oudeman, Martin a Porta and Kim Wahl as Directors

The 47 asset managers below reported 38,303,953 for, 347,174 against. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 38,303,953AGAINST: 347,174
Largest asset managers voting on “Reelect Pia Aaltonen-Forsell, Henrik Ehrnrooth, Jari Gustafsson, Piia-Noora Kauppi, Melanie Maas-Brunner, Topi” at UPM-Kymmene Oyj, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard14,506,2510 00For
Columbia Threadneedle4,368,6870 00For
Fidelity3,314,9650 00For
State Street3,040,3260 00For
JANUS INVESTMENT FUND2,946,0220 00For
Capital Group2,025,8390 00For
Dimensional1,820,5200 00For
TIAA1,755,1150 00For
Northern Trust1,344,2290 00For
DWS1,205,2540 00For
T. Rowe Price589,4400 00For
AIG/SunAmerica0225,966 00Against
ALPS ETF Trust198,8470 00For
American Century183,4050 00For
Equitable139,3620 00For
WisdomTree96,0350 00For
Empower95,6920 00For
Principal84,2000 00For
Franklin Templeton77,2750 00For
Lincoln Financial75,6980 00For
GuideStone72,8930 00For
WASATCH FUNDS TRUST66,6490 00For
Brighthouse52,7502,531 00For
Prudential/PGIM54,1060 00For
Voya050,488 00Against

Showing the 25 largest of 47 asset managers. All 47 are in the interactive database (link above).

2. Resolution on the remuneration of the members of the board of directors

No official resultsFund totals may overlapSECTION 14A SAY-ON-PAY VOTES

98% Fund and manager reports combined; may count the same shares twice · no official result

FOR
Details: description as filed, votes by 15 asset managers

Description as filed by funds: RESOLUTION ON THE REMUNERATION OF THE MEMBERS OF THE BOARD OF DIRECTORS

Fund voting reports and institutional-manager reports both cover this item. An institutional manager can report shares that a fund it advises also reports, so the two are shown separately below and never added together, and their sum is not shown (fund and manager reports combined may count the same shares twice). The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

Fund voting reports: 14 asset managers voting on “RESOLUTION ON THE REMUNERATION OF THE MEMBERS OF THE BOARD OF DIRECTORS” at UPM-Kymmene Oyj, 2024-2025
Asset managerForAgainst AbstainWithheldVote
BlackRock11,006,6980 00For
JPMorgan608,0770 00For
Jackson National548,6970 00For
Six Circles Trust536,9150 00For
John Hancock158,2300 00For
Northern Lights Fund Trust IV63,3050 00For
Bridge Builder Trust57,5650 00For
CULLEN FUNDS TRUST54,1110 00For
Allianz39,9420 00For
MASTER INVESTMENT PORTFOLIO37,7300 00For
TIMOTHY PLAN13,3180 00For
Morningstar Funds Trust9,8650 00For
Pacer Funds Trust4,8320 00For
RBB FUND, INC.3,2990 00For

Fund voting reports, all 14 managers: 13,142,584 for.

Institutional-manager reports: 1 asset manager voting on “RESOLUTION ON THE REMUNERATION OF THE MEMBERS OF THE BOARD OF DIRECTORS” at UPM-Kymmene Oyj, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Trium Capital LLP0284,396 00Against

Institutional-manager reports, all 1 managers: 284,396 against.

3. ELECTION OF MEMBERS OF THE BOARD OF DIRECTORS: PIA AALTONEN-FORSELL, HENRIK EHRNROOTH, JARI GUSTAFSSON, PIIA-NOORA…

No official resultsDIRECTOR ELECTIONS

99.8% of fund votes cast · no official result

FOR
Details: description as filed, votes by 14 asset managers

Description as filed by funds: ELECTION OF MEMBERS OF THE BOARD OF DIRECTORS: PIA AALTONEN-FORSELL, HENRIK EHRNROOTH, JARI GUSTAFSSON, PIIA-NOORA KAUPPI, MELANIE MAAS- BRUNNER, TOPI MANNER, MARJAN OUDEMAN, MARTIN A PORTA AND KIM WAHL

The 14 asset managers below reported 13,053,263 for, 26,016 against, 63,305 abstained. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 13,053,263AGAINST: 26,016ABSTAIN: 63,305
Largest asset managers voting on “ELECTION OF MEMBERS OF THE BOARD OF DIRECTORS: PIA AALTONEN-FORSELL, HENRIK EHRNROOTH, JARI GUSTAFSSON, PIIA-N” at UPM-Kymmene Oyj, 2024-2025
Asset managerForAgainst AbstainWithheldVote
BlackRock11,006,6980 00For
JPMorgan608,0770 00For
Jackson National548,6970 00For
Six Circles Trust536,9150 00For
John Hancock158,2300 00For
Northern Lights Fund Trust IV00 63,3050Abstain
Bridge Builder Trust31,54926,016 00Mixed
CULLEN FUNDS TRUST54,1110 00For
Allianz39,9420 00For
MASTER INVESTMENT PORTFOLIO37,7300 00For
TIMOTHY PLAN13,3180 00For
Morningstar Funds Trust9,8650 00For
Pacer Funds Trust4,8320 00For
RBB FUND, INC.3,2990 00For

4. ELECTION OF THE SUSTAINABILITY REPORTING ASSURER FOR THE FINANCIAL PERIODS 2025 AND 2026: ERNST AND YOUNG

No official resultsCORPORATE GOVERNANCE

99.8% of fund votes cast · no official result

FOR
Details: votes by 14 asset managers

The 14 asset managers below reported 13,129,266 for, 13,318 against. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 13,129,266AGAINST: 13,318
Largest asset managers voting on “ELECTION OF THE SUSTAINABILITY REPORTING ASSURER FOR THE FINANCIAL PERIODS 2025 AND 2026: ERNST AND YOUNG” at UPM-Kymmene Oyj, 2024-2025
Asset managerForAgainst AbstainWithheldVote
BlackRock11,006,6980 00For
JPMorgan608,0770 00For
Jackson National548,6970 00For
Six Circles Trust536,9150 00For
John Hancock158,2300 00For
Northern Lights Fund Trust IV63,3050 00For
Bridge Builder Trust57,5650 00For
CULLEN FUNDS TRUST54,1110 00For
Allianz39,9420 00For
MASTER INVESTMENT PORTFOLIO37,7300 00For
TIMOTHY PLAN013,318 00Against
Morningstar Funds Trust9,8650 00For
Pacer Funds Trust4,8320 00For
RBB FUND, INC.3,2990 00For

5. Resolution on the discharge of the members of the board of directors and the president and CEO from liability

No official resultsCORPORATE GOVERNANCE

100% of fund votes cast · no official result

FOR
Details: description as filed, votes by 14 asset managers

Description as filed by funds: RESOLUTION ON THE DISCHARGE OF THE MEMBERS OF THE BOARD OF DIRECTORS AND THE PRESIDENT AND CEO FROM LIABILITY

The 14 asset managers below reported 13,142,584 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 13,142,584
Largest asset managers voting on “RESOLUTION ON THE DISCHARGE OF THE MEMBERS OF THE BOARD OF DIRECTORS AND THE PRESIDENT AND CEO FROM LIABILITY” at UPM-Kymmene Oyj, 2024-2025
Asset managerForAgainst AbstainWithheldVote
BlackRock11,006,6980 00For
JPMorgan608,0770 00For
Jackson National548,6970 00For
Six Circles Trust536,9150 00For
John Hancock158,2300 00For
Northern Lights Fund Trust IV63,3050 00For
Bridge Builder Trust57,5650 00For
CULLEN FUNDS TRUST54,1110 00For
Allianz39,9420 00For
MASTER INVESTMENT PORTFOLIO37,7300 00For
TIMOTHY PLAN13,3180 00For
Morningstar Funds Trust9,8650 00For
Pacer Funds Trust4,8320 00For
RBB FUND, INC.3,2990 00For

6. Resolution on the number of members of the board of directors: nine

No official resultsCORPORATE GOVERNANCE

100% of fund votes cast · no official result

FOR
Details: description as filed, votes by 14 asset managers

Description as filed by funds: RESOLUTION ON THE NUMBER OF MEMBERS OF THE BOARD OF DIRECTORS: NINE

The 14 asset managers below reported 13,142,584 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 13,142,584
Largest asset managers voting on “RESOLUTION ON THE NUMBER OF MEMBERS OF THE BOARD OF DIRECTORS: NINE” at UPM-Kymmene Oyj, 2024-2025
Asset managerForAgainst AbstainWithheldVote
BlackRock11,006,6980 00For
JPMorgan608,0770 00For
Jackson National548,6970 00For
Six Circles Trust536,9150 00For
John Hancock158,2300 00For
Northern Lights Fund Trust IV63,3050 00For
Bridge Builder Trust57,5650 00For
CULLEN FUNDS TRUST54,1110 00For
Allianz39,9420 00For
MASTER INVESTMENT PORTFOLIO37,7300 00For
TIMOTHY PLAN13,3180 00For
Morningstar Funds Trust9,8650 00For
Pacer Funds Trust4,8320 00For
RBB FUND, INC.3,2990 00For

7. Resolution on the partial amendment of the articles of association : resolution on amendments to the 10 of the articles…

No official resultsCORPORATE GOVERNANCE

99.8% of fund votes cast · no official result

FOR
Details: description as filed, votes by 14 asset managers

Description as filed by funds: RESOLUTION ON THE PARTIAL AMENDMENT OF THE ARTICLES OF ASSOCIATION : RESOLUTION ON AMENDMENTS TO THE 10 OF THE ARTICLES OF ASSOCIATION

The 14 asset managers below reported 13,123,866 for, 18,718 against. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 13,123,866AGAINST: 18,718
Largest asset managers voting on “RESOLUTION ON THE PARTIAL AMENDMENT OF THE ARTICLES OF ASSOCIATION : RESOLUTION ON AMENDMENTS TO THE 10 OF THE” at UPM-Kymmene Oyj, 2024-2025
Asset managerForAgainst AbstainWithheldVote
BlackRock11,006,6980 00For
JPMorgan608,0770 00For
Jackson National548,6970 00For
Six Circles Trust536,9150 00For
John Hancock139,51218,718 00Mixed
Northern Lights Fund Trust IV63,3050 00For
Bridge Builder Trust57,5650 00For
CULLEN FUNDS TRUST54,1110 00For
Allianz39,9420 00For
MASTER INVESTMENT PORTFOLIO37,7300 00For
TIMOTHY PLAN13,3180 00For
Morningstar Funds Trust9,8650 00For
Pacer Funds Trust4,8320 00For
RBB FUND, INC.3,2990 00For

8. Resolution on the partial amendment of the articles of association : resolution on amendments to the 8 and 11 of the…

No official resultsCORPORATE GOVERNANCE

100% of fund votes cast · no official result

FOR
Details: description as filed, votes by 14 asset managers

Description as filed by funds: RESOLUTION ON THE PARTIAL AMENDMENT OF THE ARTICLES OF ASSOCIATION : RESOLUTION ON AMENDMENTS TO THE 8 AND 11 OF THE ARTICLES OF ASSOCIATIONS

The 14 asset managers below reported 13,142,584 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 13,142,584
Largest asset managers voting on “RESOLUTION ON THE PARTIAL AMENDMENT OF THE ARTICLES OF ASSOCIATION : RESOLUTION ON AMENDMENTS TO THE 8 AND 11 ” at UPM-Kymmene Oyj, 2024-2025
Asset managerForAgainst AbstainWithheldVote
BlackRock11,006,6980 00For
JPMorgan608,0770 00For
Jackson National548,6970 00For
Six Circles Trust536,9150 00For
John Hancock158,2300 00For
Northern Lights Fund Trust IV63,3050 00For
Bridge Builder Trust57,5650 00For
CULLEN FUNDS TRUST54,1110 00For
Allianz39,9420 00For
MASTER INVESTMENT PORTFOLIO37,7300 00For
TIMOTHY PLAN13,3180 00For
Morningstar Funds Trust9,8650 00For
Pacer Funds Trust4,8320 00For
RBB FUND, INC.3,2990 00For

9. Amendments to Articles (Sustainability Reporting Assurer)

No official resultsCORPORATE GOVERNANCE

100% of fund votes cast · no official result

FOR
Details: votes by 9 asset managers

The 9 asset managers below reported 3,131,661 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 3,131,661
Largest asset managers voting on “Amendments to Articles (Sustainability Reporting Assurer)” at UPM-Kymmene Oyj, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Charles Schwab2,129,9330 00For
Federated Hermes813,1760 00For
Russell Investments162,3280 00For
Hartford15,6440 00For
VanEck ETF Trust4,2350 00For
Brighthouse4,1040 00For
Prudential/PGIM1,2030 00For
Adviser Managed Trust6930 00For
ETFis Series Trust I3450 00For

10. Allow Shareholder Meetings to be Held by Electronic Means Only

No official resultsCORPORATE GOVERNANCE

88% of fund votes cast · no official result

FOR
Details: votes by 47 asset managers

The 47 asset managers below reported 34,204,661 for, 4,446,466 against. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 34,204,661AGAINST: 4,446,466
Largest asset managers voting on “Allow Shareholder Meetings to be Held by Electronic Means Only” at UPM-Kymmene Oyj, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard14,506,2510 00For
Columbia Threadneedle4,368,6870 00For
Fidelity3,314,9650 00For
State Street03,040,326 00Against
JANUS INVESTMENT FUND2,946,0220 00For
Capital Group2,025,8390 00For
Dimensional1,820,5200 00For
TIAA1,755,1150 00For
Northern Trust29,7431,314,486 00Against
DWS1,205,2540 00For
T. Rowe Price589,4400 00For
AIG/SunAmerica225,9660 00For
ALPS ETF Trust198,8470 00For
American Century183,4050 00For
Equitable139,3620 00For
WisdomTree96,0350 00For
Empower95,6920 00For
Principal84,2000 00For
Franklin Templeton77,2750 00For
Lincoln Financial075,698 00Against
GuideStone72,8930 00For
WASATCH FUNDS TRUST66,6490 00For
Brighthouse55,2810 00For
Prudential/PGIM54,1060 00For
Voya50,4880 00For

Showing the 25 largest of 47 asset managers. All 47 are in the interactive database (link above).

11. Fix Number of Directors at Nine

No official resultsCORPORATE GOVERNANCE

100% of fund votes cast · no official result

FOR
Details: votes by 47 asset managers

The 47 asset managers below reported 38,651,127 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 38,651,127
Largest asset managers voting on “Fix Number of Directors at Nine” at UPM-Kymmene Oyj, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard14,506,2510 00For
Columbia Threadneedle4,368,6870 00For
Fidelity3,314,9650 00For
State Street3,040,3260 00For
JANUS INVESTMENT FUND2,946,0220 00For
Capital Group2,025,8390 00For
Dimensional1,820,5200 00For
TIAA1,755,1150 00For
Northern Trust1,344,2290 00For
DWS1,205,2540 00For
T. Rowe Price589,4400 00For
AIG/SunAmerica225,9660 00For
ALPS ETF Trust198,8470 00For
American Century183,4050 00For
Equitable139,3620 00For
WisdomTree96,0350 00For
Empower95,6920 00For
Principal84,2000 00For
Franklin Templeton77,2750 00For
Lincoln Financial75,6980 00For
GuideStone72,8930 00For
WASATCH FUNDS TRUST66,6490 00For
Brighthouse55,2810 00For
Prudential/PGIM54,1060 00For
Voya50,4880 00For

Showing the 25 largest of 47 asset managers. All 47 are in the interactive database (link above).

12. Approve Issuance of up to 25 Million Shares without Preemptive Rights

No official resultsCAPITAL STRUCTURE

100% of fund votes cast · no official result

FOR
Details: votes by 47 asset managers

The 47 asset managers below reported 38,651,127 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 38,651,127
Largest asset managers voting on “Approve Issuance of up to 25 Million Shares without Preemptive Rights” at UPM-Kymmene Oyj, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard14,506,2510 00For
Columbia Threadneedle4,368,6870 00For
Fidelity3,314,9650 00For
State Street3,040,3260 00For
JANUS INVESTMENT FUND2,946,0220 00For
Capital Group2,025,8390 00For
Dimensional1,820,5200 00For
TIAA1,755,1150 00For
Northern Trust1,344,2290 00For
DWS1,205,2540 00For
T. Rowe Price589,4400 00For
AIG/SunAmerica225,9660 00For
ALPS ETF Trust198,8470 00For
American Century183,4050 00For
Equitable139,3620 00For
WisdomTree96,0350 00For
Empower95,6920 00For
Principal84,2000 00For
Franklin Templeton77,2750 00For
Lincoln Financial75,6980 00For
GuideStone72,8930 00For
WASATCH FUNDS TRUST66,6490 00For
Brighthouse55,2810 00For
Prudential/PGIM54,1060 00For
Voya50,4880 00For

Showing the 25 largest of 47 asset managers. All 47 are in the interactive database (link above).

13. Authorize Share Repurchase Program

No official resultsCAPITAL STRUCTURE

100% of fund votes cast · no official result

FOR
Details: votes by 47 asset managers

The 47 asset managers below reported 38,651,127 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 38,651,127
Largest asset managers voting on “Authorize Share Repurchase Program” at UPM-Kymmene Oyj, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard14,506,2510 00For
Columbia Threadneedle4,368,6870 00For
Fidelity3,314,9650 00For
State Street3,040,3260 00For
JANUS INVESTMENT FUND2,946,0220 00For
Capital Group2,025,8390 00For
Dimensional1,820,5200 00For
TIAA1,755,1150 00For
Northern Trust1,344,2290 00For
DWS1,205,2540 00For
T. Rowe Price589,4400 00For
AIG/SunAmerica225,9660 00For
ALPS ETF Trust198,8470 00For
American Century183,4050 00For
Equitable139,3620 00For
WisdomTree96,0350 00For
Empower95,6920 00For
Principal84,2000 00For
Franklin Templeton77,2750 00For
Lincoln Financial75,6980 00For
GuideStone72,8930 00For
WASATCH FUNDS TRUST66,6490 00For
Brighthouse55,2810 00For
Prudential/PGIM54,1060 00For
Voya50,4880 00For

Showing the 25 largest of 47 asset managers. All 47 are in the interactive database (link above).

14. Authorising the board of directors to resolve on the issuance of shares and special rights entitling to shares

No official resultsCORPORATE GOVERNANCE

100% of fund votes cast · no official result

FOR
Details: description as filed, votes by 14 asset managers

Description as filed by funds: AUTHORISING THE BOARD OF DIRECTORS TO RESOLVE ON THE ISSUANCE OF SHARES AND SPECIAL RIGHTS ENTITLING TO SHARES

The 14 asset managers below reported 13,142,584 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 13,142,584
Largest asset managers voting on “AUTHORISING THE BOARD OF DIRECTORS TO RESOLVE ON THE ISSUANCE OF SHARES AND SPECIAL RIGHTS ENTITLING TO SHARES” at UPM-Kymmene Oyj, 2024-2025
Asset managerForAgainst AbstainWithheldVote
BlackRock11,006,6980 00For
JPMorgan608,0770 00For
Jackson National548,6970 00For
Six Circles Trust536,9150 00For
John Hancock158,2300 00For
Northern Lights Fund Trust IV63,3050 00For
Bridge Builder Trust57,5650 00For
CULLEN FUNDS TRUST54,1110 00For
Allianz39,9420 00For
MASTER INVESTMENT PORTFOLIO37,7300 00For
TIMOTHY PLAN13,3180 00For
Morningstar Funds Trust9,8650 00For
Pacer Funds Trust4,8320 00For
RBB FUND, INC.3,2990 00For

15. Authorising the board of directors to resolve on the repurchase of the company's own shares

No official resultsCORPORATE GOVERNANCE

100% of fund votes cast · no official result

FOR
Details: description as filed, votes by 14 asset managers

Description as filed by funds: AUTHORISING THE BOARD OF DIRECTORS TO RESOLVE ON THE REPURCHASE OF THE COMPANY'S OWN SHARES

The 14 asset managers below reported 13,142,584 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 13,142,584
Largest asset managers voting on “AUTHORISING THE BOARD OF DIRECTORS TO RESOLVE ON THE REPURCHASE OF THE COMPANY'S OWN SHARES” at UPM-Kymmene Oyj, 2024-2025
Asset managerForAgainst AbstainWithheldVote
BlackRock11,006,6980 00For
JPMorgan608,0770 00For
Jackson National548,6970 00For
Six Circles Trust536,9150 00For
John Hancock158,2300 00For
Northern Lights Fund Trust IV63,3050 00For
Bridge Builder Trust57,5650 00For
CULLEN FUNDS TRUST54,1110 00For
Allianz39,9420 00For
MASTER INVESTMENT PORTFOLIO37,7300 00For
TIMOTHY PLAN13,3180 00For
Morningstar Funds Trust9,8650 00For
Pacer Funds Trust4,8320 00For
RBB FUND, INC.3,2990 00For

16. Authority to Issue Shares w/ or w/o Preemptive Rights

No official resultsCAPITAL STRUCTURE

100% of fund votes cast · no official result

FOR
Details: votes by 9 asset managers

The 9 asset managers below reported 3,131,661 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 3,131,661
Largest asset managers voting on “Authority to Issue Shares w/ or w/o Preemptive Rights” at UPM-Kymmene Oyj, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Charles Schwab2,129,9330 00For
Federated Hermes813,1760 00For
Russell Investments162,3280 00For
Hartford15,6440 00For
VanEck ETF Trust4,2350 00For
Brighthouse4,1040 00For
Prudential/PGIM1,2030 00For
Adviser Managed Trust6930 00For
ETFis Series Trust I3450 00For

17. Authority to Repurchase and Reissue Shares

No official resultsCAPITAL STRUCTURE

100% of fund votes cast · no official result

FOR
Details: votes by 9 asset managers

The 9 asset managers below reported 3,131,661 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 3,131,661
Largest asset managers voting on “Authority to Repurchase and Reissue Shares” at UPM-Kymmene Oyj, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Charles Schwab2,129,9330 00For
Federated Hermes813,1760 00For
Russell Investments162,3280 00For
Hartford15,6440 00For
VanEck ETF Trust4,2350 00For
Brighthouse4,1040 00For
Prudential/PGIM1,2030 00For
Adviser Managed Trust6930 00For
ETFis Series Trust I3450 00For

18. Accept Financial Statements and Statutory Reports

No official resultsCORPORATE GOVERNANCE

100% of fund votes cast · no official result

FOR
Details: votes by 47 asset managers

The 47 asset managers below reported 38,651,127 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 38,651,127
Largest asset managers voting on “Accept Financial Statements and Statutory Reports” at UPM-Kymmene Oyj, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard14,506,2510 00For
Columbia Threadneedle4,368,6870 00For
Fidelity3,314,9650 00For
State Street3,040,3260 00For
JANUS INVESTMENT FUND2,946,0220 00For
Capital Group2,025,8390 00For
Dimensional1,820,5200 00For
TIAA1,755,1150 00For
Northern Trust1,344,2290 00For
DWS1,205,2540 00For
T. Rowe Price589,4400 00For
AIG/SunAmerica225,9660 00For
ALPS ETF Trust198,8470 00For
American Century183,4050 00For
Equitable139,3620 00For
WisdomTree96,0350 00For
Empower95,6920 00For
Principal84,2000 00For
Franklin Templeton77,2750 00For
Lincoln Financial75,6980 00For
GuideStone72,8930 00For
WASATCH FUNDS TRUST66,6490 00For
Brighthouse55,2810 00For
Prudential/PGIM54,1060 00For
Voya50,4880 00For

Showing the 25 largest of 47 asset managers. All 47 are in the interactive database (link above).

19. Approve Allocation of Income and Dividends of EUR 1.50 Per Share

No official resultsCAPITAL STRUCTURE

100% of fund votes cast · no official result

FOR
Details: votes by 47 asset managers

The 47 asset managers below reported 38,651,127 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 38,651,127
Largest asset managers voting on “Approve Allocation of Income and Dividends of EUR 1.50 Per Share” at UPM-Kymmene Oyj, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard14,506,2510 00For
Columbia Threadneedle4,368,6870 00For
Fidelity3,314,9650 00For
State Street3,040,3260 00For
JANUS INVESTMENT FUND2,946,0220 00For
Capital Group2,025,8390 00For
Dimensional1,820,5200 00For
TIAA1,755,1150 00For
Northern Trust1,344,2290 00For
DWS1,205,2540 00For
T. Rowe Price589,4400 00For
AIG/SunAmerica225,9660 00For
ALPS ETF Trust198,8470 00For
American Century183,4050 00For
Equitable139,3620 00For
WisdomTree96,0350 00For
Empower95,6920 00For
Principal84,2000 00For
Franklin Templeton77,2750 00For
Lincoln Financial75,6980 00For
GuideStone72,8930 00For
WASATCH FUNDS TRUST66,6490 00For
Brighthouse55,2810 00For
Prudential/PGIM54,1060 00For
Voya50,4880 00For

Showing the 25 largest of 47 asset managers. All 47 are in the interactive database (link above).

20. Approve Discharge of Board and President

No official resultsCORPORATE GOVERNANCE

100% of fund votes cast · no official result

FOR
Details: votes by 47 asset managers

The 47 asset managers below reported 38,651,127 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 38,651,127
Largest asset managers voting on “Approve Discharge of Board and President” at UPM-Kymmene Oyj, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard14,506,2510 00For
Columbia Threadneedle4,368,6870 00For
Fidelity3,314,9650 00For
State Street3,040,3260 00For
JANUS INVESTMENT FUND2,946,0220 00For
Capital Group2,025,8390 00For
Dimensional1,820,5200 00For
TIAA1,755,1150 00For
Northern Trust1,344,2290 00For
DWS1,205,2540 00For
T. Rowe Price589,4400 00For
AIG/SunAmerica225,9660 00For
ALPS ETF Trust198,8470 00For
American Century183,4050 00For
Equitable139,3620 00For
WisdomTree96,0350 00For
Empower95,6920 00For
Principal84,2000 00For
Franklin Templeton77,2750 00For
Lincoln Financial75,6980 00For
GuideStone72,8930 00For
WASATCH FUNDS TRUST66,6490 00For
Brighthouse55,2810 00For
Prudential/PGIM54,1060 00For
Voya50,4880 00For

Showing the 25 largest of 47 asset managers. All 47 are in the interactive database (link above).

21. Adoption of the financial statements

100% of fund votes cast · no official result

FOR
Details: description as filed, votes by 14 asset managers

Description as filed by funds: ADOPTION OF THE FINANCIAL STATEMENTS

The 14 asset managers below reported 13,142,584 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 13,142,584
Largest asset managers voting on “ADOPTION OF THE FINANCIAL STATEMENTS” at UPM-Kymmene Oyj, 2024-2025
Asset managerForAgainst AbstainWithheldVote
BlackRock11,006,6980 00For
JPMorgan608,0770 00For
Jackson National548,6970 00For
Six Circles Trust536,9150 00For
John Hancock158,2300 00For
Northern Lights Fund Trust IV63,3050 00For
Bridge Builder Trust57,5650 00For
CULLEN FUNDS TRUST54,1110 00For
Allianz39,9420 00For
MASTER INVESTMENT PORTFOLIO37,7300 00For
TIMOTHY PLAN13,3180 00For
Morningstar Funds Trust9,8650 00For
Pacer Funds Trust4,8320 00For
RBB FUND, INC.3,2990 00For

22. Resolution on the use of the profit shown on the balance sheet and the payment of dividend

No official resultsCORPORATE GOVERNANCE

100% of fund votes cast · no official result

FOR
Details: description as filed, votes by 14 asset managers

Description as filed by funds: RESOLUTION ON THE USE OF THE PROFIT SHOWN ON THE BALANCE SHEET AND THE PAYMENT OF DIVIDEND

The 14 asset managers below reported 13,142,584 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 13,142,584
Largest asset managers voting on “RESOLUTION ON THE USE OF THE PROFIT SHOWN ON THE BALANCE SHEET AND THE PAYMENT OF DIVIDEND” at UPM-Kymmene Oyj, 2024-2025
Asset managerForAgainst AbstainWithheldVote
BlackRock11,006,6980 00For
JPMorgan608,0770 00For
Jackson National548,6970 00For
Six Circles Trust536,9150 00For
John Hancock158,2300 00For
Northern Lights Fund Trust IV63,3050 00For
Bridge Builder Trust57,5650 00For
CULLEN FUNDS TRUST54,1110 00For
Allianz39,9420 00For
MASTER INVESTMENT PORTFOLIO37,7300 00For
TIMOTHY PLAN13,3180 00For
Morningstar Funds Trust9,8650 00For
Pacer Funds Trust4,8320 00For
RBB FUND, INC.3,2990 00For

23. Accounts and Reports

No official resultsCORPORATE GOVERNANCE

100% of fund votes cast · no official result

FOR
Details: votes by 9 asset managers

The 9 asset managers below reported 3,131,661 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 3,131,661
Largest asset managers voting on “Accounts and Reports” at UPM-Kymmene Oyj, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Charles Schwab2,129,9330 00For
Federated Hermes813,1760 00For
Russell Investments162,3280 00For
Hartford15,6440 00For
VanEck ETF Trust4,2350 00For
Brighthouse4,1040 00For
Prudential/PGIM1,2030 00For
Adviser Managed Trust6930 00For
ETFis Series Trust I3450 00For

24. Allocation of Profits/Dividends

No official resultsCAPITAL STRUCTURE

100% of fund votes cast · no official result

FOR
Details: votes by 9 asset managers

The 9 asset managers below reported 3,131,661 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 3,131,661
Largest asset managers voting on “Allocation of Profits/Dividends” at UPM-Kymmene Oyj, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Charles Schwab2,129,9330 00For
Federated Hermes813,1760 00For
Russell Investments162,3280 00For
Hartford15,6440 00For
VanEck ETF Trust4,2350 00For
Brighthouse4,1040 00For
Prudential/PGIM1,2030 00For
Adviser Managed Trust6930 00For
ETFis Series Trust I3450 00For

25. Authorize Charitable Donations

No official resultsOTHER SOCIAL ISSUES

100% of fund votes cast · no official result

FOR
Details: votes by 47 asset managers

The 47 asset managers below reported 38,651,127 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 38,651,127
Largest asset managers voting on “Authorize Charitable Donations” at UPM-Kymmene Oyj, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard14,506,2510 00For
Columbia Threadneedle4,368,6870 00For
Fidelity3,314,9650 00For
State Street3,040,3260 00For
JANUS INVESTMENT FUND2,946,0220 00For
Capital Group2,025,8390 00For
Dimensional1,820,5200 00For
TIAA1,755,1150 00For
Northern Trust1,344,2290 00For
DWS1,205,2540 00For
T. Rowe Price589,4400 00For
AIG/SunAmerica225,9660 00For
ALPS ETF Trust198,8470 00For
American Century183,4050 00For
Equitable139,3620 00For
WisdomTree96,0350 00For
Empower95,6920 00For
Principal84,2000 00For
Franklin Templeton77,2750 00For
Lincoln Financial75,6980 00For
GuideStone72,8930 00For
WASATCH FUNDS TRUST66,6490 00For
Brighthouse55,2810 00For
Prudential/PGIM54,1060 00For
Voya50,4880 00For

Showing the 25 largest of 47 asset managers. All 47 are in the interactive database (link above).

26. Authorising the board of directors to resolve on charitable contributions

No official resultsCORPORATE GOVERNANCE

100% of fund votes cast · no official result

FOR
Details: description as filed, votes by 14 asset managers

Description as filed by funds: AUTHORISING THE BOARD OF DIRECTORS TO RESOLVE ON CHARITABLE CONTRIBUTIONS

The 14 asset managers below reported 13,142,584 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 13,142,584
Largest asset managers voting on “AUTHORISING THE BOARD OF DIRECTORS TO RESOLVE ON CHARITABLE CONTRIBUTIONS” at UPM-Kymmene Oyj, 2024-2025
Asset managerForAgainst AbstainWithheldVote
BlackRock11,006,6980 00For
JPMorgan608,0770 00For
Jackson National548,6970 00For
Six Circles Trust536,9150 00For
John Hancock158,2300 00For
Northern Lights Fund Trust IV63,3050 00For
Bridge Builder Trust57,5650 00For
CULLEN FUNDS TRUST54,1110 00For
Allianz39,9420 00For
MASTER INVESTMENT PORTFOLIO37,7300 00For
TIMOTHY PLAN13,3180 00For
Morningstar Funds Trust9,8650 00For
Pacer Funds Trust4,8320 00For
RBB FUND, INC.3,2990 00For

27. Resolution on the remuneration of the sustainability reporting assurer for the financial periods 2025 and 2026

No official resultsCORPORATE GOVERNANCE

100% of fund votes cast · no official result

FOR
Details: description as filed, votes by 14 asset managers

Description as filed by funds: RESOLUTION ON THE REMUNERATION OF THE SUSTAINABILITY REPORTING ASSURER FOR THE FINANCIAL PERIODS 2025 AND 2026

The 14 asset managers below reported 13,142,584 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 13,142,584
Largest asset managers voting on “RESOLUTION ON THE REMUNERATION OF THE SUSTAINABILITY REPORTING ASSURER FOR THE FINANCIAL PERIODS 2025 AND 2026” at UPM-Kymmene Oyj, 2024-2025
Asset managerForAgainst AbstainWithheldVote
BlackRock11,006,6980 00For
JPMorgan608,0770 00For
Jackson National548,6970 00For
Six Circles Trust536,9150 00For
John Hancock158,2300 00For
Northern Lights Fund Trust IV63,3050 00For
Bridge Builder Trust57,5650 00For
CULLEN FUNDS TRUST54,1110 00For
Allianz39,9420 00For
MASTER INVESTMENT PORTFOLIO37,7300 00For
TIMOTHY PLAN13,3180 00For
Morningstar Funds Trust9,8650 00For
Pacer Funds Trust4,8320 00For
RBB FUND, INC.3,2990 00For

28. Amendments to Articles (Virtual Meeting)

No official resultsCORPORATE GOVERNANCE

99.7% of fund votes cast · no official result

FOR
Details: votes by 9 asset managers

The 9 asset managers below reported 3,124,941 for, 6,720 against. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 3,124,941AGAINST: 6,720
Largest asset managers voting on “Amendments to Articles (Virtual Meeting)” at UPM-Kymmene Oyj, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Charles Schwab2,129,9330 00For
Federated Hermes813,1760 00For
Russell Investments162,3280 00For
Hartford13,0282,616 00Mixed
VanEck ETF Trust4,2350 00For
Brighthouse04,104 00Against
Prudential/PGIM1,2030 00For
Adviser Managed Trust6930 00For
ETFis Series Trust I3450 00For

29. Remuneration of Directors in the Amount of EUR 240,000 for Chair, EUR 150,000 for Deputy Chair and EUR 120,000 for…

100% of fund votes cast · no official result

FOR
Details: description as filed, votes by 47 asset managers

Description as filed by funds: Remuneration of Directors in the Amount of EUR 240,000 for Chair, EUR 150,000 for Deputy Chair and EUR 120,000 for Other Directors; Approve Compensation for Committee Work

The 47 asset managers below reported 38,651,127 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 38,651,127
Largest asset managers voting on “Remuneration of Directors in the Amount of EUR 240,000 for Chair, EUR 150,000 for Deputy Chair and EUR 120,000” at UPM-Kymmene Oyj, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard14,506,2510 00For
Columbia Threadneedle4,368,6870 00For
Fidelity3,314,9650 00For
State Street3,040,3260 00For
JANUS INVESTMENT FUND2,946,0220 00For
Capital Group2,025,8390 00For
Dimensional1,820,5200 00For
TIAA1,755,1150 00For
Northern Trust1,344,2290 00For
DWS1,205,2540 00For
T. Rowe Price589,4400 00For
AIG/SunAmerica225,9660 00For
ALPS ETF Trust198,8470 00For
American Century183,4050 00For
Equitable139,3620 00For
WisdomTree96,0350 00For
Empower95,6920 00For
Principal84,2000 00For
Franklin Templeton77,2750 00For
Lincoln Financial75,6980 00For
GuideStone72,8930 00For
WASATCH FUNDS TRUST66,6490 00For
Brighthouse55,2810 00For
Prudential/PGIM54,1060 00For
Voya50,4880 00For

Showing the 25 largest of 47 asset managers. All 47 are in the interactive database (link above).

30. Approve Remuneration Report

100% Fund and manager reports combined; may count the same shares twice · no official result

FOR
Details: votes by 50 asset managers

Fund voting reports and institutional-manager reports both cover this item. An institutional manager can report shares that a fund it advises also reports, so the two are shown separately below and never added together, and their sum is not shown (fund and manager reports combined may count the same shares twice). The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

Fund voting reports: 47 asset managers voting on “Approve Remuneration Report” at UPM-Kymmene Oyj, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard14,506,2510 00For
Columbia Threadneedle4,368,6870 00For
Fidelity3,314,9650 00For
State Street3,040,3260 00For
JANUS INVESTMENT FUND2,946,0220 00For
Capital Group2,025,8390 00For
Dimensional1,820,5200 00For
TIAA1,755,1150 00For
Northern Trust1,344,2290 00For
DWS1,205,2540 00For
T. Rowe Price589,4400 00For
AIG/SunAmerica225,9660 00For
ALPS ETF Trust198,8470 00For
American Century183,4050 00For
Equitable139,3620 00For
WisdomTree96,0350 00For
Empower95,6920 00For
Principal84,2000 00For
Franklin Templeton77,2750 00For
Lincoln Financial75,6980 00For
GuideStone72,8930 00For
WASATCH FUNDS TRUST66,6490 00For
Brighthouse55,2810 00For
Prudential/PGIM54,1060 00For
Voya50,4880 00For

Fund voting reports, all 47 managers: 38,651,127 for. Showing the 25 largest; every one is in the interactive database (link above).

Institutional-manager reports: 3 asset managers voting on “Approve Remuneration Report” at UPM-Kymmene Oyj, 2024-2025
Asset managerForAgainst AbstainWithheldVote
JPMorgan2,258,9260 00For
Desjardins Global Asset Management Inc.51,5390 00For
BlackRock9,7310 00For

Institutional-manager reports, all 3 managers: 2,320,196 for.

31. Adoption of the remuneration report

No official resultsFund totals may overlapSECTION 14A SAY-ON-PAY VOTES

100% Fund and manager reports combined; may count the same shares twice · no official result

FOR
Details: description as filed, votes by 24 asset managers

Description as filed by funds: ADOPTION OF THE REMUNERATION REPORT

Fund voting reports and institutional-manager reports both cover this item. An institutional manager can report shares that a fund it advises also reports, so the two are shown separately below and never added together, and their sum is not shown (fund and manager reports combined may count the same shares twice). The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

Fund voting reports: 14 asset managers voting on “ADOPTION OF THE REMUNERATION REPORT” at UPM-Kymmene Oyj, 2024-2025
Asset managerForAgainst AbstainWithheldVote
BlackRock11,006,6980 00For
JPMorgan608,0770 00For
Jackson National548,6970 00For
Six Circles Trust536,9150 00For
John Hancock158,2300 00For
Northern Lights Fund Trust IV00 63,3050Abstain
Bridge Builder Trust57,5650 00For
CULLEN FUNDS TRUST54,1110 00For
Allianz39,9420 00For
MASTER INVESTMENT PORTFOLIO37,7300 00For
TIMOTHY PLAN13,3180 00For
Morningstar Funds Trust9,8650 00For
Pacer Funds Trust4,8320 00For
RBB FUND, INC.3,2990 00For

Fund voting reports, all 14 managers: 13,079,279 for, 63,305 abstained.

Institutional-manager reports: 11 asset managers voting on “ADOPTION OF THE REMUNERATION REPORT” at UPM-Kymmene Oyj, 2024-2025
Asset managerForAgainst AbstainWithheldVote
BlackRock19,750,3180 00For
Trium Capital LLP284,3960 00For
Siemens Fonds Invest GmbH151,4390 00For
Northern Trust91,8890 00For
Korea Investment CORP56,3020 00For
1832 Asset Management L.P.26,4000 00For
Cullen Capital Management, LLC19,5200 00For
South Dakota Investment Council6,7000 00For
NATIONAL BANK TRUST INC.2,1820 00For
XPONANCE, INC.7700 00For
BBR PARTNERS, LLC2440 00For

Institutional-manager reports, all 11 managers: 20,390,160 for.

32. Amend Articles Re: Auditor; General Meeting

No official resultsCORPORATE GOVERNANCE

100% of fund votes cast · no official result

FOR
Details: votes by 47 asset managers

The 47 asset managers below reported 38,651,127 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 38,651,127
Largest asset managers voting on “Amend Articles Re: Auditor; General Meeting” at UPM-Kymmene Oyj, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard14,506,2510 00For
Columbia Threadneedle4,368,6870 00For
Fidelity3,314,9650 00For
State Street3,040,3260 00For
JANUS INVESTMENT FUND2,946,0220 00For
Capital Group2,025,8390 00For
Dimensional1,820,5200 00For
TIAA1,755,1150 00For
Northern Trust1,344,2290 00For
DWS1,205,2540 00For
T. Rowe Price589,4400 00For
AIG/SunAmerica225,9660 00For
ALPS ETF Trust198,8470 00For
American Century183,4050 00For
Equitable139,3620 00For
WisdomTree96,0350 00For
Empower95,6920 00For
Principal84,2000 00For
Franklin Templeton77,2750 00For
Lincoln Financial75,6980 00For
GuideStone72,8930 00For
WASATCH FUNDS TRUST66,6490 00For
Brighthouse55,2810 00For
Prudential/PGIM54,1060 00For
Voya50,4880 00For

Showing the 25 largest of 47 asset managers. All 47 are in the interactive database (link above).

33. Appoint Ernst & Young as Auditor for Sustainability Reporting

No official resultsAUDIT-RELATED

100% of fund votes cast · no official result

FOR
Details: votes by 47 asset managers

The 47 asset managers below reported 38,651,127 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 38,651,127
Largest asset managers voting on “Appoint Ernst & Young as Auditor for Sustainability Reporting” at UPM-Kymmene Oyj, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard14,506,2510 00For
Columbia Threadneedle4,368,6870 00For
Fidelity3,314,9650 00For
State Street3,040,3260 00For
JANUS INVESTMENT FUND2,946,0220 00For
Capital Group2,025,8390 00For
Dimensional1,820,5200 00For
TIAA1,755,1150 00For
Northern Trust1,344,2290 00For
DWS1,205,2540 00For
T. Rowe Price589,4400 00For
AIG/SunAmerica225,9660 00For
ALPS ETF Trust198,8470 00For
American Century183,4050 00For
Equitable139,3620 00For
WisdomTree96,0350 00For
Empower95,6920 00For
Principal84,2000 00For
Franklin Templeton77,2750 00For
Lincoln Financial75,6980 00For
GuideStone72,8930 00For
WASATCH FUNDS TRUST66,6490 00For
Brighthouse55,2810 00For
Prudential/PGIM54,1060 00For
Voya50,4880 00For

Showing the 25 largest of 47 asset managers. All 47 are in the interactive database (link above).

34. Approve Remuneration of Auditor for Sustainability Reporting

No official resultsAUDIT-RELATED

100% of fund votes cast · no official result

FOR
Details: votes by 47 asset managers

The 47 asset managers below reported 38,651,127 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 38,651,127
Largest asset managers voting on “Approve Remuneration of Auditor for Sustainability Reporting” at UPM-Kymmene Oyj, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard14,506,2510 00For
Columbia Threadneedle4,368,6870 00For
Fidelity3,314,9650 00For
State Street3,040,3260 00For
JANUS INVESTMENT FUND2,946,0220 00For
Capital Group2,025,8390 00For
Dimensional1,820,5200 00For
TIAA1,755,1150 00For
Northern Trust1,344,2290 00For
DWS1,205,2540 00For
T. Rowe Price589,4400 00For
AIG/SunAmerica225,9660 00For
ALPS ETF Trust198,8470 00For
American Century183,4050 00For
Equitable139,3620 00For
WisdomTree96,0350 00For
Empower95,6920 00For
Principal84,2000 00For
Franklin Templeton77,2750 00For
Lincoln Financial75,6980 00For
GuideStone72,8930 00For
WASATCH FUNDS TRUST66,6490 00For
Brighthouse55,2810 00For
Prudential/PGIM54,1060 00For
Voya50,4880 00For

Showing the 25 largest of 47 asset managers. All 47 are in the interactive database (link above).

35. Approve Remuneration of Auditors

No official resultsAUDIT-RELATED

100% of fund votes cast · no official result

FOR
Details: votes by 47 asset managers

The 47 asset managers below reported 38,651,127 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 38,651,127
Largest asset managers voting on “Approve Remuneration of Auditors” at UPM-Kymmene Oyj, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard14,506,2510 00For
Columbia Threadneedle4,368,6870 00For
Fidelity3,314,9650 00For
State Street3,040,3260 00For
JANUS INVESTMENT FUND2,946,0220 00For
Capital Group2,025,8390 00For
Dimensional1,820,5200 00For
TIAA1,755,1150 00For
Northern Trust1,344,2290 00For
DWS1,205,2540 00For
T. Rowe Price589,4400 00For
AIG/SunAmerica225,9660 00For
ALPS ETF Trust198,8470 00For
American Century183,4050 00For
Equitable139,3620 00For
WisdomTree96,0350 00For
Empower95,6920 00For
Principal84,2000 00For
Franklin Templeton77,2750 00For
Lincoln Financial75,6980 00For
GuideStone72,8930 00For
WASATCH FUNDS TRUST66,6490 00For
Brighthouse55,2810 00For
Prudential/PGIM54,1060 00For
Voya50,4880 00For

Showing the 25 largest of 47 asset managers. All 47 are in the interactive database (link above).

36. Ratify Ernst & Young as Auditors

No official resultsAUDIT-RELATED

100% of fund votes cast · no official result

FOR
Details: votes by 47 asset managers

The 47 asset managers below reported 38,651,127 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 38,651,127
Largest asset managers voting on “Ratify Ernst & Young as Auditors” at UPM-Kymmene Oyj, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard14,506,2510 00For
Columbia Threadneedle4,368,6870 00For
Fidelity3,314,9650 00For
State Street3,040,3260 00For
JANUS INVESTMENT FUND2,946,0220 00For
Capital Group2,025,8390 00For
Dimensional1,820,5200 00For
TIAA1,755,1150 00For
Northern Trust1,344,2290 00For
DWS1,205,2540 00For
T. Rowe Price589,4400 00For
AIG/SunAmerica225,9660 00For
ALPS ETF Trust198,8470 00For
American Century183,4050 00For
Equitable139,3620 00For
WisdomTree96,0350 00For
Empower95,6920 00For
Principal84,2000 00For
Franklin Templeton77,2750 00For
Lincoln Financial75,6980 00For
GuideStone72,8930 00For
WASATCH FUNDS TRUST66,6490 00For
Brighthouse55,2810 00For
Prudential/PGIM54,1060 00For
Voya50,4880 00For

Showing the 25 largest of 47 asset managers. All 47 are in the interactive database (link above).

37. ELECTION OF THE AUDITOR FOR THE FINANCIAL PERIOD 2026: ERNST AND YOUNG

No official resultsAUDIT-RELATED

100% of fund votes cast · no official result

FOR
Details: votes by 14 asset managers

The 14 asset managers below reported 13,142,584 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 13,142,584
Largest asset managers voting on “ELECTION OF THE AUDITOR FOR THE FINANCIAL PERIOD 2026: ERNST AND YOUNG” at UPM-Kymmene Oyj, 2024-2025
Asset managerForAgainst AbstainWithheldVote
BlackRock11,006,6980 00For
JPMorgan608,0770 00For
Jackson National548,6970 00For
Six Circles Trust536,9150 00For
John Hancock158,2300 00For
Northern Lights Fund Trust IV63,3050 00For
Bridge Builder Trust57,5650 00For
CULLEN FUNDS TRUST54,1110 00For
Allianz39,9420 00For
MASTER INVESTMENT PORTFOLIO37,7300 00For
TIMOTHY PLAN13,3180 00For
Morningstar Funds Trust9,8650 00For
Pacer Funds Trust4,8320 00For
RBB FUND, INC.3,2990 00For

38. Resolution on the remuneration of the auditor for the financial period 2026

No official resultsCORPORATE GOVERNANCE

100% of fund votes cast · no official result

FOR
Details: description as filed, votes by 14 asset managers

Description as filed by funds: RESOLUTION ON THE REMUNERATION OF THE AUDITOR FOR THE FINANCIAL PERIOD 2026

The 14 asset managers below reported 13,142,584 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 13,142,584
Largest asset managers voting on “RESOLUTION ON THE REMUNERATION OF THE AUDITOR FOR THE FINANCIAL PERIOD 2026” at UPM-Kymmene Oyj, 2024-2025
Asset managerForAgainst AbstainWithheldVote
BlackRock11,006,6980 00For
JPMorgan608,0770 00For
Jackson National548,6970 00For
Six Circles Trust536,9150 00For
John Hancock158,2300 00For
Northern Lights Fund Trust IV63,3050 00For
Bridge Builder Trust57,5650 00For
CULLEN FUNDS TRUST54,1110 00For
Allianz39,9420 00For
MASTER INVESTMENT PORTFOLIO37,7300 00For
TIMOTHY PLAN13,3180 00For
Morningstar Funds Trust9,8650 00For
Pacer Funds Trust4,8320 00For
RBB FUND, INC.3,2990 00For

39. Appointment of Auditor

No official resultsAUDIT-RELATED

100% of fund votes cast · no official result

FOR
Details: votes by 9 asset managers

The 9 asset managers below reported 3,131,661 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 3,131,661
Largest asset managers voting on “Appointment of Auditor” at UPM-Kymmene Oyj, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Charles Schwab2,129,9330 00For
Federated Hermes813,1760 00For
Russell Investments162,3280 00For
Hartford15,6440 00For
VanEck ETF Trust4,2350 00For
Brighthouse4,1040 00For
Prudential/PGIM1,2030 00For
Adviser Managed Trust6930 00For
ETFis Series Trust I3450 00For

40. Appointment of Auditor for Sustainability Reporting

No official resultsAUDIT-RELATED

100% of fund votes cast · no official result

FOR
Details: votes by 9 asset managers

The 9 asset managers below reported 3,131,661 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 3,131,661
Largest asset managers voting on “Appointment of Auditor for Sustainability Reporting” at UPM-Kymmene Oyj, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Charles Schwab2,129,9330 00For
Federated Hermes813,1760 00For
Russell Investments162,3280 00For
Hartford15,6440 00For
VanEck ETF Trust4,2350 00For
Brighthouse4,1040 00For
Prudential/PGIM1,2030 00For
Adviser Managed Trust6930 00For
ETFis Series Trust I3450 00For

Showing the 40 reported items with the widest manager coverage, of 55 in total. Every item is in the interactive database (link above).

Largest UPM-Kymmene Oyj shareholders voting in 2024-2025

Ranked separately for each type of Form N-PX report. An institutional manager can report shares that a fund it advises also reports, so the two tables can list the same shares and are never added together. Each is ranked by the shares voted on the item that the most managers of that type reported.

Fund voting reports: top UPM-Kymmene Oyj shareholders by shares voted on “Approve Remuneration Report”, 2024-2025
#Asset manager Shares voted
1Vanguard 14,506,251
2Columbia Threadneedle 4,368,687
3Fidelity 3,314,965
4State Street 3,040,326
5JANUS INVESTMENT FUND 2,946,022
6Capital Group 2,025,839
7Dimensional 1,820,520
8TIAA 1,755,115
9Northern Trust 1,344,229
10DWS 1,205,254
Institutional-manager reports: top UPM-Kymmene Oyj shareholders by shares voted on “ADOPTION OF THE REMUNERATION REPORT”, 2024-2025
#Asset manager Shares voted
1BlackRock 19,750,318
2Trium Capital LLP 284,396
3Siemens Fonds Invest GmbH 151,439
4Northern Trust 91,889
5Korea Investment CORP 56,302
61832 Asset Management L.P. 26,400
7Cullen Capital Management, LLC 19,520
8South Dakota Investment Council 6,700
9NATIONAL BANK TRUST INC. 2,182
10XPONANCE, INC. 770

Shown as share counts, not percentages: no shares-outstanding figure has been matched to UPM-Kymmene Oyj for the 2024-2025 season, so there is no denominator to divide by.

Related

About this page

Every figure above is derived from filings made with the US Securities and Exchange Commission: Form N-PX, in which registered funds disclose how they voted every proxy and institutional managers disclose their votes on executive pay (say-on-pay, say-on-frequency and golden parachutes), and Form 8-K Item 5.07, in which the company reports its own meeting results. This page is a static snapshot rebuilt weekly on November 8, 2026; a live search always shows the current data.

UPM-Kymmene Oyj proxy season coverage: 2023-2024 · 2024-2025 (this page) · 2025-2026.

Cite this page

proxyvotesnow.com, “UPM-Kymmene Oyj 2025 Annual Meeting: Vote Results & How Funds Voted”, https://proxyvotesnow.com/company/upm-kymmene-oyj/2025 (version of November 8, 2026). Derived from SEC Form N-PX and Form 8-K filings; tables licensed CC BY 4.0. Licence: CC BY 4.0.