AMAG Austria Metall

The role of administrative, management and supervisory bodies

Sustainability is an elementary component of AMAG's corporate self-image. The transfer of strategic objectives into corporate processes is ensured through the involvement of numerous specialised departments and is integrated with targets and metrics across all areas of the company.

SUPERVISORY BOARD: As the highest supervisory body, the Supervisory Board of Austria Metall AG fulfils its duties with regard to economic, environmental and social responsibility and thus all ESG areas of the company. In 2024, the Supervisory Board consisted of ten members (nine men, one woman) and met five times. The Supervisory Board has exclusively a supervisory function and no executive responsibility. All ten members consider themselves to be independent in accordance with the criteria defined in the Austrian Code of Corporate Governance (Appendix 1). Five members were delegated by the Works Council to represent employee concerns. The Supervisory Board forms the following committees from among its members:

› Audit Committee › Nomination Committee › Strategy Committee › Remuneration Committee › committee for urgent matters › ESG Committee

ESG COMMITTEE: The Supervisory Board is supported in sustainability aspects in particular by the ESG Committee, which was established for the first time in 2023. Its task is to monitor the establishment and effectiveness of processes for the implementation and assessment of non-financial statement in accordance with the applicable EU Directive (No. 2022/2464 - CSRD) and other applicable provisions (including Austrian implementing legislation) and to report on this to the Audit Committee and the full Supervisory Board. Since the ESRS came into force, the ESG Committee has had the task of supporting the Audit Committee in its audit duties with regard to non-financial statement and in carrying out the procedure for selecting the external auditor. It also supports and advises on ESG issues at the request of the full Supervisory Board or one of its committees, such as the Remuneration Committee in preparing the setting of ESG targets for Executive Board remuneration or the Strategy Committee in linking ESG and corporate strategy. The ESG Committee meets twice a year as budgeted. In terms of its coordinating tasks, the Chairman of the Supervisory Board or a member of the Audit Committee are also members of the ESG Committee. The ESG Committee may not be chaired by anyone who has been a member of the Executive Board, a senior manager within the meaning of Section 80 AktG or an external auditor of non-financial statement in the last three years, or who has signed the audit certificate or is not impartial or independent for other reasons.

MANAGEMENT BOARD: In 2024, the Management Board consisted of three executive members (two men, one woman) with the functions of CEO/COO, CFO and CSO. The Management Board defines the long-term direction of AMAG's sustainability strategy - it is thus responsible for monitoring the impacts, risks and opportunities, implementing the sustainability targets set out in the sustainability programme and transferred to the management structure with clearly defined areas of responsibility, and ultimately also for reporting on the programme and the defined targets. The Management Board has broad expertise in ESG issues and covers the same areas of competence as those defined for the Supervisory Board. It is regularly informed about ESG topics by the internal departments and external experts (e.g. via AMAG's Scientific and Technological Advisory Board) in order to be able to react to future regulatory requirements in a well-founded and forward-looking manner. The members of the Management Board receive regular training on ESG topics, are in constant dialogue with stakeholders and take part in meetings of associations and ESG-relevant working groups. In 2024, the Management Board addressed all material impacts, risks and opportunities that form the basis of this non-financial statement.

MANAGEMENT SYSTEMS AND SUSTAINABILITY DEPARTMENT: The Management Systems department coordinates sustainability management and reports directly to the Management Board, which in turn informs the Supervisory Board at regular intervals. The Sustainability department is located in the Management Systems department. Here, in close cooperation with all of AMAG's specialist departments, data is collected, measures are defined and monitored for compliance, and new targets are identified. Material sustainability aspects are identified by conducting a double materiality assessment, which in turn forms the basis for non-financial statement. In addition, the Management Systems department reports on current trends and issues, prepares reports to track sustainability targets and is responsible for participation in ESG ratings.

SUSTAINABILITY COMMITTEE: The Sustainability Committee, which consists of the Management Board, the managing directors and department heads and meets once a year, evaluates sustainability performance to date. In addition, measures from the AMAG sustainability programme are reviewed for their degree of target achievement and adjusted if necessary, and new targets are set for subsequent years. The responsible departments ensure that the sustainability topics are continuously implemented as part of day-to-day business and in the course of projects and research initiatives.

ESG CONCEPTS AND RESPONSIBILITIES: Specific responsibilities and areas of responsibility regarding ESG, which the Management Board delegates to specialised departments, are generally defined in guidelines, procedures and work instructions. All relevant ESG concepts are described in the respective topic sections.

Information provided to and sustainability matters addressed by the administrative, management and supervisory bodies

Expertise that is central to AMAG in terms of holistic sustainability was surveyed in 2024 by means of a questionnaire of Supervisory Board members. All specialist areas (sector-, product-, market- and sustainability-specific) as well as specific topic knowledge (including circular economy, renewable raw materials and energy sources, recycling, biodiversity, water and waste management, fair labour practices, diversity, equality and inclusion, information security) are covered by the composition of the Supervisory Board. In addition, it is informed at Supervisory Board meetings about ongoing sustainability activities in relation to material impacts, risks and opportunities as well as significant regulatory framework conditions and changes. In special cases, the Supervisory Board is also informed directly. In 2024, the Supervisory Board dealt with the following topics relating to sustainability, among others:

› Decarbonisation (strategy and measures, associated risks and opportunities) › Climate protection › Sustainable aluminium value chain › Green energy supply › (New) legal framework conditions, for example with regard to energy and emissions, status of implementation at AMAG › Product-specific opportunities and challenges (including CO2-optimised aluminium) › Non-financial statement › Diversity, equal treatment and inclusion

The Management Board has broad expertise in ESG issues and covers the same areas of competence as those defined for the Supervisory Board. It is regularly informed about ESG topics by the internal departments and external experts (e.g. via AMAG's Scientific and Technological Advisory Board) in order to be able to react to future regulatory requirements in a well-founded and forward-looking manner. The members of the Management Board receive regular training on ESG topics, are in constant dialogue with stakeholders and take part in meetings of associations and ESG-relevant working groups. In 2024, the Management Board addressed all material impacts, risks and opportunities that form the basis of this non-financial statement.

Integration of sustainability-related performance in incentive schemes

The principles that are applied in determining the remuneration of AMAG's Management Board and Supervisory Board are set out in AMAG's remuneration policy. The primary aim of the remuneration policy is to promote long-term and sustainable corporate development. In 2022, the principles of the remuneration policy were adjusted and it was decided at the Annual General Meeting that - in addition to the existing criteria for the long-term variable performance bonus (LTI) - remuneration would be linked to two to four sustainability targets from a predefined catalogue of criteria. The LTI is a multi-year, performance-related remuneration that is intended to have a long-term incentivising effect. The LTI is granted on a rolling basis, i.e. in annual tranches, each with a three-year assessment period. For the 2024 LTI tranche (assessment period: 2023-2025), targets were set for specific CO2 emissions (Scope 1 and 2) and the occupational safety indicator TRIFR (Total Recordable Injury Frequency Rate), in each case in relation to the Ranshofen site. A total of 20% of the LTI is allocated to sustainability targets. The amount of the LTI depends on the degree of target achievement. The final entitlements are only determined at the end of the last year of the assessment period of the respective LTI tranche. The ESG key figures relevant to remuneration for the 2024 financial year were audited by Ernst & Young Wirtschaftsprüfungsgesellschaft m.b.H. with reasonable assurance. The Remuneration Committee of the Supervisory Board is responsible for preparing, regularly reviewing and monitoring the implementation of the remuneration policy for the Management Board. The final determination of the remuneration policy is the responsibility of the full Supervisory Board.

The remuneration report provides a detailed description of the remuneration system and an overview of the remuneration promised and granted to current and former members of the Management Board and Supervisory Board in the financial year, including all types of benefits. Further information is available in the report, which is published with the information on the Annual General Meeting on the AMAG website.

Statement on due diligence

AMAG's due diligence process essentially comprises six steps, which are outlined below.

1. DUE DILIGENCE: The processes implemented to fulfil due diligence in the areas of the environment, human and social rights and corruption prevention are based on applicable laws, internationally recognised standards and voluntary commitments. In order to identify, prevent and end negative impacts from its own business activities or along the supply chain as effectively as possible, AMAG has certified management systems focusing on occupational safety, quality, the environment and energy, as well as a comprehensive risk management and internal control system. AMAG is also in regular dialogue with both external and internal stakeholders and their representatives and provides transparent information.

The aim is to demand respect for human rights, environmental compliance and business integrity both in the company's own business area and along the supply chain, to review these aspects on a risk basis and, in the event of actual or potential negative impacts, to create suitable remedial measures or measures for redress. The due diligence process focussing on the upstream value chain is anchored in the area of responsible procurement management and is continuously developed and adapted as required, for example due to changes in environmental or human rights conditions in countries or regions.

1. DETERMINATION AND ASSESSMENT OF RISKS & IMPACTS: AMAG's ongoing activities are regularly reviewed for the risk of human rights violations, environmental hazards and breaches of business ethics - with the aim of avoiding actual and potential adverse impacts in the course of business activities and along the supply chain. Impacts and risks are analysed from two perspectives: The inside-out perspective is concerned with impacts emanating from the company's business activities and value chain. The outside-in perspective analyses the risks that can have an external impact on business activities and the value chain.

2. HANDLING OF IMPACTS & RISKS: Negative impacts on stakeholders and risks for AMAG are evaluated continuously and as part of the annual sustainability programme or risk management, and concrete concepts and measures are derived from this, or existing ones are adapted. The responsible departments are also defined. If impacts or risks are identified in the supply chain, measures are taken. For example, the Purchasing, Legal and Sustainability departments define suitable action plans in dialogue with suppliers and re-evaluate their implementation after a defined period of time.

3. EFFECTIVENESS MONITORING: The effectiveness of the measures taken is monitored once a year or on a risk basis. The respective departments report the progress and performance of the risk evaluation as well as any potential for optimisation. Based on these reports, the Management Board may specify changes and follow-up measures.

4. REPORTING AND COMMUNICATION: The aim of adhering to environmental compliance, basic human rights principles and fair business practices at AMAG and along the value chain is a key component of the business model and AMAG's annual sustainability programme. Trends, violations and measures are communicated transparently both internally and externally, for example in this report.

5. ENABLING EXCHANGE AND COMPENSATION: AMAG endeavours to eliminate negative impacts caused or contributed to by the company. In order to be able to take effective steps here, dialogue with stakeholders is essential. AMAG offers its stakeholders various options for commenting on negative impacts or the measures taken, including the AMAG Compliance Line, which can be used on the AMAG website - also anonymously.

Due diligence is given special consideration in the following areas:

Core elements of due diligence - Areas in the non-financial statement

DUE DILIGENCE ANCHORING › All ESG areas (each in the Central strategies and concepts section) › particularly in S1 (human rights) and in S2

DETERMINATION & ASSESSMENT OF IMPACTS & RISKS › materiality assessment › Stakeholder management

HANDLING OF IMPACTS & RISKS › All ESG areas (each in the Measures section) › particularly in S1 (human rights) and in S2

EFFECTIVENESS MONITORING › S1 (human rights); S2

REPORTING AND COMMUNICATION › all ESG areas

ENABLING EXCHANGE AND REPARATION › all ESG areas › particularly in S1 (human rights) and in S2 › G1 (whistleblower system)

In addition to the six steps of due diligence, the company's sustainability management is based on the following principles:

› Efficiency: When developing systems, processes and products, attention is paid to resource and energy efficiency and to minimising environmental impact. › Balance: The broad positioning in terms of sectors, products and geographical markets ensures a high degree of balance and stability. Comprehensive sustainability activities in the various divisions ensure that sustainability management functions systematically and is continuously improved. › Materiality: The AMAG Group focuses on the material economic, environmental and social impacts of its business activities and along its supply chain and is in ongoing dialogue with its stakeholders to determine the material issues. › Completeness: The principles of transparency, timeliness and completeness are the top priorities in internal and external corporate communications. AMAG communicates in a timely and comprehensive manner on the key topics of its business activities to relevant stakeholders. › Flexibility: Changes in the economic and social environment as well as new customer and market requirements are seen as opportunities and are met with a high degree of flexibility. › Spirit of innovation: Research into technologically challenging issues, the trend towards marketable applications and the continuous improvement of processes and products are an expression of the AMAG Group's innovative spirit.

Risk management and internal controls over sustainability reporting

Risk management is implemented as an integral component for identifying, assessing and controlling all significant strategic, technical and operational risks and opportunities at AMAG. It makes a significant contribution to the successful implementation of the corporate strategy and the objectives derived from it. Risks are to be recognised at an early stage and proactively managed wherever possible in order to limit or completely avoid potential negative impacts. In addition to mitigating risks, business opportunities should be utilised in a targeted manner. It is crucial to identify scarce resources in order to deploy them proactively, efficiently and effectively and to make timely and risk-oriented decisions on new investments and (business) activities in order to minimise risk. A sufficiently high level of risk awareness at all organisational levels of AMAG is essential for this. AMAG's risk management is based on the "Risk Management" standard (ISO 31000) and the COSO ERM Framework. The risk management guideline for the Ranshofen site and the AMAG components sites (Germany) regulates the efficient and responsible handling of risks and opportunities in order to minimise the legal and economic consequences.

The two pillars of strategic and technical risk and opportunity management are supplemented at an operational level by the derivation of risks and opportunities from maintenance (risk-based maintenance) and technology (assessment of process error risks with an impact on products).

RESPONSIBILITY, TASKS AND INTERNAL COMMUNICATION: The Management Board is responsible for defining AMAG's risk strategy and adopting the risk management programme. This takes place at least once a year as part of risk meetings convened by the Management Board. As a consequence, the Management Board is also responsible for updating and adapting AMAG's risk management system to changing conditions, assumes the tasks of monitoring the overall system, and ensures that risk management is integrated into all activities at AMAG. The Management Board regularly informs the Supervisory Board and the Audit Committee about AMAG's risk situation.

Responsibility for the risks of the AMAG companies lies with the respective management. The risk officers are responsible for the identification, assessment, documentation and, if necessary, monitoring of performance indicators and the definition of early warning signals for risks in their area of responsibility. They obtain information on the respective risk situation and take this into account in their risk reports within their reporting line. Significant new risks and opportunities that arise in the meantime or the significant intensification or improvement of a risk situation are reported directly to the Management Board and the Risk Management department. The latter provides support in assessing the risks and updates the risk management system.

At the end of the year, the implementation of the measures taken for the individual risks is reviewed. At the beginning of the year, the effectiveness of the risk management system is verified externally.

RISK AND OPPORTUNITY ASSESSMENT: The classification and resulting prioritisation of risks is based on the probability of occurrence and the potential impact on EBITDA using a five-point scale. The assessment of financial impacts on EBITDA is based on various risk aspects defined in the guideline, such as sources, affected areas and trends, which are weighed up and evaluated in a professional discourse. To date, opportunities have only been assessed qualitatively in risk management (see materiality assessment).

DOUBLE MATERIALITY ASSESSMENT: In the course of defining the material topics for non-financial statement, a double materiality assessment is carried out. On the one hand, it includes those impacts that emanate from the company or its value chain and can have a positive or negative effect on the corporate environment (inside-out approach). On the other hand, these impacts are - where possible - linked to the risks and opportunities (outside-in) from the existing risk management system. The double materiality assessment can also identify ESG risks and opportunities, especially in the social and human rights area, which are not (yet) mapped in risk management, as their consequences and financial impacts are complex and difficult to capture.

SIGNIFICANT RISKS IN THE ESG SECTOR: Climate-related risks are divided into transitory and physical risks, the latter in turn into acute and chronic risks. The acute and chronic physical risks are derived from data from GeoSphere (Austria's national meteorological and geophysical service) and data from the IPCC (Intergovernmental Panel on Climate Change). Acute physical events that can lead to risks for AMAG include storm damage, high water/flooding, heavy rain, heavy snow and hail. Chronic risks such as long-term climatic changes or threats can in turn increasingly lead to acute physical risks for the company. All types of physical events are monitored and evaluated in AMAG's risk management system. The measures taken are documented and regularly reviewed. In order to manage these risks, comprehensive measures are taken to counteract the progression of climate change. A central step here is decarbonisation, for which AMAG has drawn up a roadmap.

Transitory risks for AMAG can arise from regulatory, legal and technological changes, as well as changes in supply security, among other things. In order to prevent regulatory risks due to changes in climate and environmental protection requirements or energy policy, for example, the legal situation and draft legislation are constantly monitored, and dialogue with stakeholders is stepped up.

In the environmental area, potential risks were also identified as a result of air, water and soil pollution, for example in the form of environmental incidents or non-compliance with regulations and limits, at the sites and along the value chain. A shortage of raw materials and related supply bottlenecks, as well as inadequate or incorrect disposal, can also represent a significant risk for AMAG. Climate and environment-related risks are dealt with outside of risk management in relevant specialist departments (environmental and energy management) and in the environmental management team (see E1 - Management of impacts, risks and opportunities). Climate and environmental risks are also considered in a study on the avoidance of significant adverse impacts in accordance with the EU Taxonomy (Regulation (EU) 2021/2139).

Social and human rights risks and opportunities are also subject to close monitoring. High employee turnover, (cyber) attacks and data protection breaches have been identified as significant potential risks for the AMAG sites (see S1 – Own workforce). To mitigate these risks, concepts and measures are developed and evaluated together with the HR department. Along the supply chain, potential violations of certain human and social rights are defined as risks that are to be largely mitigated or prevented through responsible procurement management (see S2 - Workers in the value chain).

In order to effectively prevent legal and compliance violations, among other things, AMAG has a comprehensive compliance system, which is explained in section G1 - Business conduct. AMAG counters all risks through responsible corporate governance, compliance with all laws and regulations, and transparent communication with all stakeholders. Technology risks can affect various areas, including climate and environmental protection and decarbonisation. In order to develop technologies for climate-neutral aluminium production and ultimately use them on an industrial scale, concrete scientific approaches, long-term stable political framework conditions and targets, investments in research and development and - if implemented - sufficient renewable energy that is available at affordable prices are required. AMAG is already actively working on solutions here. Far-reaching investments are always assessed in terms of key conditions such as security of supply and competitiveness. The framework conditions and various factors are continuously recorded and monitored in risk management. Measures to promote innovation and technology can be found primarily in Section E1 - Climate change and G1 – Business conduct.

The information published in the non-financial statement was subjected to an independent third party audit to obtain limited assurance on the basis of ISAE 3000 (Revised) by Ernst & Young Wirtschaftsprüfungsgesellschaft m.b.H. More comprehensive audit procedures were performed for the TRIFR (Total Recordable Injury Frequency Rate) and the specific emission indicators with the aim of obtaining reasonable assurance. Ernst & Young Wirtschaftsprüfungsgesellschaft m.b.H. was also commissioned to audit the consolidated financial statements and management report for 2024. The Management Board instructed the responsible employees in the respective departments to provide the complete and correct documentation and information required for the audit.

Strategy, business model and value chain

ABOUT AMAG

Diversity - whether in terms of products or sustainability - is at the centre of the AMAG Group's business activities and is supported by a unique value chain.

BUSINESS MODEL

AMAG Austria Metall AG produces high-quality semi-finished aluminium products and components as well as primary aluminium. The company uniquely combines the highest product quality, production efficiency, a broad product portfolio with a high share of specialities and the highest level of expertise in aluminium recycling.

The AMAG Group's headquarters are located in Ranshofen, Austria. On the one hand, recycled cast alloys are produced there, which are supplied to the processing industry in the form of ingots and sows, but also in the form of liquid aluminium, and are used in particular for mould casting. High-quality aluminium rolled products in the form of sheets, coils and plates are also produced in Ranshofen. The broad product portfolio includes high-strength materials, tread plates, bright products, brazing sheets, pre-rolled aluminium bands for the packaging industry, precision plates and cathode elements. These products are used in many different industries, such as the aerospace, automotive, mechanical engineering, packaging, electrical, sports and consumer goods industries as well as in the architecture sector.

The rolling slabs required for the manufacture of rolled products are largely produced in the company's own wrought alloy casthouse. The raw material base for the two casthouses consists on average of around 75 to 80% recycled aluminium scrap, which, in addition to the Group's internal cycle, comes in particular from the final production of the processing industry and from products at the end of their life cycle. As aluminium can be recycled infinitely without any loss of quality, aluminium scrap can be reintroduced into the value chain and used to manufacture high-quality aluminium products. Recycling aluminium requires only around 5% of the energy needed to produce primary aluminium.

AMAG is continuously expanding its recycling expertise and can therefore provide customers with innovative products that have an optimised ecological footprint. Rolling and cast products from the AMAG AL4® ever family are particularly noteworthy. In addition to the use of renewable electrical energy and the highest possible proportion of recycled materials, energy and resource efficiency also play an important role in achieving the lowest possible carbon footprint. In 2024, the AMAG AL4® ever portfolio was expanded to include primary aluminium products with a guaranteed low CO2 footprint. The calculation of the product-related CO2 footprint is externally verified in accordance with ISO 14067, whereby the recycled content is defined in accordance with the latest version of ISO 14021 - both recognised and globally valid standards. A certificate guarantees customers the low emission values of AMAG AL4® ever products.

AMAG also holds a 20% stake in the Alouette smelter in Canada, the largest smelter in North and South America. The smelter produces primary aluminium in the form of low-profile sows. Production takes place through the efficient use of electrical energy from hydroelectric power, accompanied by an exemplary environmental balance, especially with regard to CO2 emissions.

Alouette's alumina supply is ensured by the shareholders. The raw material requirements are procured from large mining groups and raw material traders.

At the AMAG components sites in Übersee am Chiemsee and Karlsruhe, special components made of aluminium and carbide (titanium, steel) are manufactured for the international aerospace industry by mechanical processing (e.g. milling and drilling).

CORPORATE STRUCTURE

As the Group holding company, AMAG Austria Metall AG manages its business across the four divisions Metal Division, Casting Division, Rolling Division and Service Division.

Metal Division: The Metal Division includes the 20% stake in the Alouette smelter and is responsible within the AMAG Group for managing metal flows, hedging the operating AMAG companies against aluminium price risk and marketing primary aluminium. The Canadian Alouette smelter is one of the most efficient smelters in the world, with a secure long-term renewable energy supply from hydroelectric power in a politically stable country.

Casting Division: The Casting Division within the AMAG Group includes the production of high-quality recycled casting alloys from aluminium scrap. The product portfolio includes customer-specific aluminium materials in the form of ingots, sows and liquid metal.

Rolling Division: Within the AMAG Group, the Rolling Division is responsible for the production and sale of rolled products (sheets, coils and plates), precision cast plates and precision rolled plates. The rolling mill specialises in premium products for selected product markets. The rolling slab casthouse supplies the rolling mill with rolling slabs with a predominantly very high scrap content and low CO2 intensity. AMAG components is also recognised within the Rolling Division.

Service Division: In addition to Group management, the Service Division includes services such as facility management (building and space management), energy supply, waste disposal and purchasing and materials management. This division thus creates the conditions for the operating segments to concentrate on their core business. The innovative electronic data processing service provider coilDNA is also included in this division.

AMAG'S BUSINESS DIVISIONS AT A GLANCE

External revenue of the AMAG Group in EUR million*

*incl. 20% revenue share of Alouette

Employees

Shipments in tonnes

CURRENT TRENDS AND OUTLOOK

AMAG's strategy is based on the four values of innovation, sustainability, diversity and human touch. They are the pillars of a profitable growth course and the consistent further development of the company. Thanks to the holistic approach to sustainability, the company is also able to navigate through uncertain and price-volatile times in a stable manner and to counter changes. The year 2024 continued to be characterised by global trends and geopolitical conflicts, which clouded the market environment and negatively affected demand for aluminium products in certain industrial sectors. Nevertheless, the company's broad positioning ensured a solid revenue and performance performance in the 2024 reporting year.

Sustainable corporate success is based in particular on human resources, which must be handled responsibly. AMAG sets targets and defines measures to create conditions that support long-term employee loyalty, recognise and promote development potential, and ensure a safe and healthy working environment. Compliance with labour, human and social rights is monitored both at the production sites and in the supply chain.

Diversity as a core value is reflected both in the diversity of the workforce (see S1 - Diversity and equal opportunities) and in AMAG's broad product portfolio. Around 5,000 different products based on over 200 alloys are the performance of an innovative clout paired with a flexible plant park. Research and development (R&D) activities at the Ranshofen site are a key driver for increasing competitiveness and developing customised solutions. Many of the product innovations - including in particular the AL4® ever product portfolio - directly or indirectly address current and global social and ecological issues such as the scarcity of fossil resources, the circular economy, climate change and mobility. Particular attention is paid to solutions that enable closed-loop concepts with customers and alloy-to-alloy recycling or allow recycling-compatible alloys and crossover alloys, reduce environmental impact (e.g. lightweight components) and offer new and improved application possibilities.

AMAG endeavours to comprehensively meet the growing regulatory requirements and those of its customers as well as internal objectives. This also harbours challenges that need to be met with foresight. For example, AMAG is dependent on economic and political framework conditions for decarbonisation, on the security of supply of energy from renewable sources and on the availability of suitable input materials (including scrap).

AMAG underscores its corporate values with a comprehensive sustainability programme that defines targets based on material impacts, risks and opportunities.

The various thematic sections set out in detail the objectives, concepts and measures as well as performance relating to the key aspects of sustainability.

Responsible aluminium production and processing at AMAG meets the comprehensive requirements of the Aluminium Stewardship Initiative (ASI), which is why AMAG is certified to both standards (ASI Performance and Chain of Custody (CoC) Standard).

AMAG'S VALUE CHAIN

In Ranshofen, AMAG operates one of the most modern aluminium plants in the world. The fully integrated site includes a recycling centre, two casthouses, two hot and two cold rolling mills including finishing lines, as well as a materials research and a testing centre. In addition to primary aluminium, rolling slabs, alloying metals and scrap are purchased as essential raw materials from over 250 suppliers. These suppliers are also evaluated with regard to ESG risks as part of a defined procurement process. Where necessary, measures are taken to contribute to an ecologically sustainable and socially fair supply chain. AMAG recognises its sphere of influence here, particularly with regard to the workforce in the supply chain and the promotion of human, labour and social rights. With regard to impacts, risks and opportunities on the environment (biodiversity and ecosystems) and on affected communities in the supply chain, the company requires suppliers and their supply chain to comply with the same high standards as AMAG in terms of responsible procurement management.

The aluminium semi-finished products produced at the AMAG site in Ranshofen are further processed in various industries, including at AMAG components (Germany) for the production of ready-to-install structural parts and assemblies for the aerospace industry. By recycling production waste and using scrap after product utilisation, the resource conservation cycle is closed at the Ranshofen site.

Due to the predominant production of semi-finished aluminium products, AMAG has hardly any direct relationships with end users. The downstream value chain extends across the industries supplied by AMAG for further processing.

AMAG also holds a 20% interest in the Alouette smelter in Canada, the largest primary aluminium producer in the Americas. This is a strategic investment, as the annual production of over 600,000 tonnes of primary aluminium secures AMAG's supply of raw materials. Thanks to the supply of electrical energy from hydroelectric power and ongoing optimisation of production technology, Alouette has an exceptionally low CO2 footprint by international standards. The fact that Alouette fulfils very high standards in its primary production not only at its own production site, but also in the upstream supply chain, is also confirmed here by certification in accordance with both the ASI Performance Standard and the ASI Chain of Custody Standard. For the Alouette's alumina supply, the Alouette partners agreed to prioritise sourcing from ASI-certified sources. This confirmation of compliance with comprehensive sustainability requirements by the independent ASI institution is a key element in ensuring transparency and quality.

SUSTAINABILITY PROGRAMME 2024

[Detailed sustainability programme table with targets, performance measures and achievements for 2024 across all ESG areas including climate change, pollution, resource use and circular economy, workforce, value chain workers, and business conduct]

Interests and views of stakeholders

It is essential for every company to identify interest groups and understand their different concerns and needs in order to derive potential for optimisation. This requires structured stakeholder management and regular dialogue.

Stakeholders are generally defined as those individuals or groups who have legitimate economic, ecological or social concerns and claims against the company in connection with its (in)direct business activities. AMAG not only has a responsibility to a wide range of stakeholders as a result of its core business - the production of semi-finished aluminium products as an important material for the processing industry - and as a strong company in the Innviertel region, but also as a public limited company.

Stakeholder management is based on the following structural approach:

› Stakeholder mapping › Dialogue and exchange › Evaluation of the feedback and derivation of relevant topics › Identification of impacts, opportunities and risks of the relevant topics › Assessment of impacts, risks and opportunities in the dual materiality assessment › Reporting and communication on material topics

As part of stakeholder management, it is of great importance to AMAG that interest groups are involved in a transparent decision-making process in good time and that satisfactory solutions are found for all parties involved.

A continuous and open dialogue takes place in order to take into account the concerns and expectations of the various stakeholder groups. In addition to the online stakeholder survey accessible to all via the AMAG homepage, a wide variety of dialogue formats such as personal discussions at local, national and international level, participation in committees and associations, topic-related stakeholder events, including at the Ranshofen plant and in the AMAG Forum (Braunau town square), participation in trade fairs and conferences, and communication via social media are used.

The AMAG magazine AluReport, the non-financial statement in the annual report, press releases and publications in regional media provide ongoing information about the AMAG Group's activities. The internal AMAG Connect app is also available to employees to provide an opportunity for dialogue and feedback. More information on employee stakeholder involvement can be found in section S1 – Own workforce.

In order to promote dialogue with employees as an internal stakeholder group and to be able to take individual perspectives and concerns into account, an annual development and target achievement meeting (MAZEG) has been established. AMAG-internal contact points such as the Works Council, shop stewards, the AMAG Youth Council of Confidence, the occupational psychologist or the Women's Representative pass on relevant, anonymised information to those responsible in order to effectively address concerns and initiate measures if necessary. Feedback from employee satisfaction surveys is also taken into account.

Another information channel is the AMAG Compliance Line - a reporting system that is publicly accessible for communicating concerns about AMAG's business activities and associated misconduct, or for contacting a person of trust in personal matters. The persons responsible for the internal reporting office are trained accordingly, and a guideline defines the responsibilities and processes in detail. Further information and contact addresses can be found in section G1 – Business conduct.

The feedback from the stakeholder groups is systematically analysed and discussed with the Management Board and the department heads as part of the annual sustainability committee. Stakeholder interests play a key role in the assessment of materiality and therefore also serve as a basis for selecting the topics to be prioritised for annual reporting.

Stakeholder mapping table showing:

Material impacts, risks and opportunities and their interaction with strategy and business model

In order to develop a systematic sustainability programme and pursue it in a targeted manner, it is necessary to identify and select relevant focal points. This is done using a materiality assessment, which was carried out in accordance with the European Non-financial Reporting Standards (ESRS) and is divided into the following four steps:

1. UNDERSTANDING THE CORPORATE CONTEXT

At the beginning of this process, an overview of AMAG's activities and business relationships is drawn up. For this purpose, regulatory requirements and sector standards are used, external and internal stakeholders are involved and performance from internal risk management are taken into account in order to identify relevant sustainability issues for the company. The previously defined stakeholders and their involvement are critically evaluated in this phase and adjusted if necessary. Stakeholder dialogue takes place in various forms. All internal and external stakeholders can use an online questionnaire, which is available all year round on the homepage, to identify important topics and their material impacts, and to bring their concerns to AMAG's attention. This first step leads to the definition of topics and sub-topics ("longlist"), which are analysed and evaluated in terms of their potential materiality for the company and its activities, including the value chain.

REGULATORY REQUIREMENTS: › Sustainability & Diversity Improvement Act (NaDiVeG) › European non-financial Reporting Standards (ESRS) › EU Taxonomy Regulation (2020/852) › OECD Guidelines for Multinational Enterprises › UN Global Compact (10 principles) & UN Sustainable Development Goals (SDGs) › German Supply Chain Due Diligence Act (LkSG)

SECTOR STANDARDS: › Aluminium Stewardship Initiative: ASI Performance Standard, ASI Chain of Custody Standard › Ratings: Sustainalytics, EcoVadis, CDP, VÖNIX

2. IDENTIFICATION OF ACTUAL & POTENTIAL IMPACTS, RISKS AND OPPORTUNITIES

The pre-selection of potential sustainability topics (longlist) includes impacts emanating from the company (inside-out), as well as risks and opportunities (outside-in) that have an external impact on AMAG. New topics are identified by means of a top-down process, i.e. topics are analysed and included in the longlist if they have relevant impacts, risks or opportunities (IRO) or feedback from stakeholders. Existing material topics are evaluated in terms of the topicality and relevance of the impacts, risks and opportunities and adapted if necessary. The impacts can be both positive and negative, short and long-term, and have already materialised or are relevant for the future. This evaluation, which is carried out in dialogue with stakeholders, experts and specialist departments, results in a "shortlist" of topics that initially only includes the naming and explanation of the impacts, risks and opportunities - an assessment only takes place in the next step.

3. ASSESSMENT OF IMPACTS, RISKS & OPPORTUNITIES

In this step, a qualitative assessment of the significance of the impacts is carried out by the specialist departments, which are in close dialogue with various stakeholders. Their feedback on the issues and impacts is also taken into account in the assessment. The Sustainability department collates all the information and prepares it for a quantitative assessment. Depending on the nature of the impact (positive/negative; actual/potential), factors such as severity, probability of occurrence and time horizon are included in the assessment. The severity is based on an estimate of the extent, scope and remediability of impacts, whereby a five-point scale is used for categorisation (1 = low extent/low scope/very easy to remedy; 5 = very high extent/large scope/very limited remediability). In principle, the assessment of the impact is primarily based on the two factors of extent and probability of occurrence. The other aspects of severity (scope and mitigability) are especially taken into account in the assessment if impacts would fall below the threshold value for materiality due to a low probability of occurrence, but this impact is associated with a potentially large scope (4) or medium mitigability (3). In the case of possible negative impacts on the environment (in the form of incidents) and human rights, the severity of the impact takes precedence over its probability of occurrence.

In close coordination with risk and opportunity management, risks and opportunities are assessed based on their probability of occurrence and potential impact on EBITDA and the company's reputation.

The following chart illustrates the categorisation of material impacts and risks:

[Chart shows materiality matrix with probability of occurrence on y-axis and impact severity on x-axis, with significance thresholds marked]

Those impacts and risks that are rated with a probability of occurrence or severity of 4 or above are significant (light blue area) or prioritised (dark blue area) for AMAG. In the case of the probability of an occasional occurrence, a moderate degree of impact is sufficient; a rare occurrence must be linked to a significant degree of impact in order to be considered material. The EBITDA impact ranges from a low materiality threshold of EUR 250,000 (up to EUR 3 million in the low range) to a very high financial impact of over EUR 150 million.

To date, AMAG's risk management has primarily considered opportunities from a qualitative perspective, as this enables a deeper and more comprehensive assessment that goes beyond pure figures. A qualitative assessment allows market trends, technological trends, customer expectations and social changes to be taken into account, which have a significant influence on strategic planning.

A qualitative approach also promotes the exchange of expertise and experience within the company and sharpens the understanding of complex interrelationships and strategic decisions. As part of the materiality assessment, initial quantifications of opportunities were carried out in coordination with risk management.

The impacts, risks and opportunities assessed as material in this third step are linked to targets and measures, if necessary, in order to strengthen positive impacts and opportunities and prevent or eliminate negative impacts and risks.

4. REPORTING AND MONITORING OF MATERIAL TOPICS

The key sustainability aspects, including targets and measures, are presented to the Management Board and the managing directors as part of the annual sustainability committee and approved for reporting by a Management Board resolution.

The specialist departments are responsible for implementing and monitoring the measures and report to the Management Board on progress at least once a year or as required. Detailed information can be found in the respective topic sections.

SIGNIFICANT IMPACTS, RISKS & OPPORTUNITIES 2024

The following overview lists those topics that were assessed as material in the course of the materiality assessment as they are associated with significant impacts, risks or opportunities. Topics from the ESRS that are not considered material due to the corporate context or no relevant impacts, risks and opportunities identified are briefly explained at the end of the chart.

The specific impacts, risks and opportunities, including information on key stakeholders, characteristics (including localisation and time horizon), concepts and activities are listed at the beginning of each ESG area.

OVERVIEW OF THE KEY TOPICS FOR 2024

● = actual ○ = potential

Description of the processes to identify and assess material impacts, risks and opportunities

In order to develop a systematic sustainability programme and pursue it in a targeted manner, it is necessary to identify and select relevant focal points. This is done using a materiality assessment, which was carried out in accordance with the European Non-financial Reporting Standards (ESRS) and is divided into the following four steps:

1. UNDERSTANDING THE CORPORATE CONTEXT

At the beginning of this process, an overview of AMAG's activities and business relationships is drawn up. For this purpose, regulatory requirements and sector standards are used, external and internal stakeholders are involved and performance from internal risk management are taken into account in order to identify relevant sustainability issues for the company. The previously defined stakeholders and their involvement are critically evaluated in this phase and adjusted if necessary. Stakeholder dialogue takes place in various forms. All internal and external stakeholders can use an online questionnaire, which is available all year round on the homepage, to identify important topics and their material impacts, and to bring their concerns to AMAG's attention. This first step leads to the definition of topics and sub-topics ("longlist"), which are analysed and evaluated in terms of their potential materiality for the company and its activities, including the value chain.

TIME FRAMEWORKS: In accordance with ESRS 1 section 6.4, the three observation periods of one year (current reporting year), more than one and up to five years (medium term) and more than five years or longer (long term) were defined for the analysis of impacts, risks and opportunities.

2. IDENTIFICATION OF ACTUAL & POTENTIAL IMPACTS, RISKS AND OPPORTUNITIES

The pre-selection of potential sustainability topics (longlist) includes impacts emanating from the company (inside-out), as well as risks and opportunities (outside-in) that have an external impact on AMAG. New topics are identified by means of a top-down process, i.e. topics are analysed and included in the longlist if they have relevant impacts, risks or opportunities (IRO) or feedback from stakeholders. Existing material topics are evaluated in terms of the topicality and relevance of the impacts, risks and opportunities and adapted if necessary. The impacts can be both positive and negative, short and long-term, and have already materialised or are relevant for the future. This evaluation, which is carried out in dialogue with stakeholders, experts and specialist departments, results in a "shortlist" of topics that initially only includes the naming and explanation of the impacts, risks and opportunities - an assessment only takes place in the next step.

3. ASSESSMENT OF IMPACTS, RISKS & OPPORTUNITIES

In this step, a qualitative assessment of the significance of the impacts is carried out by the specialist departments, which are in close dialogue with various stakeholders. Their feedback on the issues and impacts is also taken into account in the assessment. The Sustainability department collates all the information and prepares it for a quantitative assessment. Depending on the nature of the impact (positive/negative; actual/potential), factors such as severity, probability of occurrence and time horizon are included in the assessment. The severity is based on an estimate of the extent, scope and remediability of impacts, whereby a five-point scale is used for categorisation (1 = low extent/low scope/very easy to remedy; 5 = very high extent/large scope/very limited remediability). In principle, the assessment of the impact is primarily based on the two factors of extent and probability of occurrence. The other aspects of severity (scope and mitigability) are especially taken into account in the assessment if impacts would fall below the threshold value for materiality due to a low probability of occurrence, but this impact is associated with a potentially large scope (4) or medium mitigability (3). In the case of possible negative impacts on the environment (in the form of incidents) and human rights, the severity of the impact takes precedence over its probability of occurrence.

In close coordination with risk and opportunity management, risks and opportunities are assessed based on their probability of occurrence and potential impact on EBITDA and the company's reputation.

The impacts, risks and opportunities assessed as material in this third step are linked to targets and measures, if necessary, in order to strengthen positive impacts and opportunities and prevent or eliminate negative impacts and risks.

4. REPORTING AND MONITORING OF MATERIAL TOPICS

The key sustainability aspects, including targets and measures, are presented to the Management Board and the managing directors as part of the annual sustainability committee and approved for reporting by a Management Board resolution. The specialist departments are responsible for implementing and monitoring the measures and report to the Management Board on progress at least once a year or as required.

AMAG's due diligence process essentially comprises six steps:

1. DUE DILIGENCE: The processes implemented to fulfil due diligence in the areas of the environment, human and social rights and corruption prevention are based on applicable laws, internationally recognised standards and voluntary commitments. AMAG has certified management systems focusing on occupational safety, quality, the environment and energy, as well as a comprehensive risk management and internal control system.

2. DETERMINATION AND ASSESSMENT OF RISKS & IMPACTS: AMAG's ongoing activities are regularly reviewed for the risk of human rights violations, environmental hazards and breaches of business ethics - with the aim of avoiding actual and potential adverse impacts in the course of business activities and along the supply chain. Impacts and risks are analysed from two perspectives: The inside-out perspective is concerned with impacts emanating from the company's business activities and value chain. The outside-in perspective analyses the risks that can have an external impact on business activities and the value chain.

3. HANDLING OF IMPACTS & RISKS: Negative impacts on stakeholders and risks for AMAG are evaluated continuously and as part of the annual sustainability programme or risk management, and concrete concepts and measures are derived from this, or existing ones are adapted.

4. EFFECTIVENESS MONITORING: The effectiveness of the measures taken is monitored once a year or on a risk basis. The respective departments report the progress and performance of the risk evaluation as well as any potential for optimisation.

5. REPORTING AND COMMUNICATION: The aim of adhering to environmental compliance, basic human rights principles and fair business practices at AMAG and along the value chain is a key component of the business model and AMAG's annual sustainability programme.

6. ENABLING EXCHANGE AND COMPENSATION: AMAG endeavours to eliminate negative impacts caused or contributed to by the company. AMAG offers its stakeholders various options for commenting on negative impacts or the measures taken, including the AMAG Compliance Line.

Disclosure requirements in ESRS covered by the undertaking's sustainability statement

AMAG reports on the following material ESRS topics for the 2024 financial year:

Material topics: ESRS 2, E1, E2, E4, E5, S1, S2, G1

Notes on non-material topics 2024:

In the course of understanding the corporate context and taking a comprehensive look at the supply chain, we initially excluded topics or sub-topics of the ESRS, as these do not apply to AMAG:

E2 - POLLUTION: For process-related reasons, microplastics are neither used as a raw material in the manufacturing process nor are they contained in AMAG products. Substances of concern and substances of very high concern are not used in the main processes and for the manufacture of the main products. Information on AMAG's chemicals management can be found in section E2 - Pollution.

S4 - CONSUMERS AND END USERS: As a supplier of semi-finished aluminium products, cast alloys and components for the aerospace industry, AMAG has no direct business-to-consumer business relationships, which means that topics such as information-related impacts, personal safety of consumers, social inclusion of consumers and end users are not covered by the AMAG corporate context. Product- and material-specific information is made available to AMAG customers in the form of safety data sheets and technical specifications. More detailed information can be found in section E2 - Pollution.

As part of the assessment of identified impacts, risks and opportunities for topics from the ESRS (step 3 of the materiality assessment), further sustainability aspects were excluded for the 2024 reporting year as they fell below the defined materiality threshold:

E3 - WATER AND MARINE RESOURCES: Although water is an important resource for AMAG, no significant impacts, risks or opportunities were identified within the meaning of E3. Concepts, measures and targets for resource consumption in relation to water are reported in Section E-5 – Resource use and circular economy.

S3 - AFFECTED COMMUNITIES: Affected communities within the meaning of the ESRS are indigenous peoples and minorities as well as economically dependent communities. None of these groups have been identified within the immediate areas of influence of the AMAG sites. The analysis of the AMAG supply chain did not identify any material impacts, opportunities or risks for the 2024 reporting period.

As a result, the following ESRS topics will not be reported by AMAG for the 2024 financial year:

› E2 - Pollution: microplastics, substances of (very) high concern › E3 - Water and marine resources › S3 - Affected communities › S4 - Consumers and end users

An overview of the reported data points can be found on p. 275.

Transition plan for climate change mitigation

As part of the integrated corporate and sustainability strategy, AMAG has developed the AMAG Decarbonisation Roadmap, which defines measures and milestones for achieving climate targets. The roadmap is based on a holistic approach and includes measures in the areas of energy, processes, raw materials and products. It covers the entire value chain from raw material procurement to product delivery and focuses on Scope 1 and 2 emissions as well as selected Scope 3 emissions.

The transition plan is aligned with the Paris Agreement and aims to achieve CO2-neutral production in the period from 2040 to 2050. The specific targets include:

Scope 1+2: Reduction of CO2 emissions by 40% (specific) or 20% (absolute) by 2030 (base year 2017) Scope 3: Reduction of average specific CO2 emissions from the primary aluminium upstream chain by 20% by 2030 (compared to 2018-2020)

The roadmap includes both short-term and long-term measures:

Short to medium-term measures (2024-2030): › Continued sourcing of 100% renewable electricity › Expansion of photovoltaic systems › Energy efficiency improvements › Increase in recycling rates › Process optimisation › Technology development for alternative reduction processes

Long-term measures (2030-2050): › Implementation of breakthrough technologies for primary aluminium production › Further expansion of renewable energy capacity › Development of hydrogen-based reduction processes › Implementation of carbon capture and utilisation technologies

The transition plan is regularly reviewed and updated based on technological developments, regulatory changes and market conditions. Progress is monitored through specific KPIs and reported annually. The plan is integrated into the company's risk management system and considers potential climate-related risks and opportunities.

The financial implications of the transition plan are assessed regularly, with investments in clean technologies and energy efficiency measures being key components of the capital allocation strategy. The company works closely with suppliers, customers and other stakeholders to ensure alignment throughout the value chain.

Policies related to climate change mitigation and adaptation

AMAG's climate policies are integrated into the overall sustainability strategy and are based on internationally recognised frameworks and standards. The company has implemented comprehensive policies addressing both climate change mitigation and adaptation:

Climate Change Mitigation Policy: › Commitment to achieve CO2-neutral production by 2040-2050 › Target to reduce Scope 1+2 CO2 emissions by 40% (specific) or 20% (absolute) by 2030 (base year 2017) › Target to reduce average specific Scope 3 CO2 emissions from primary aluminium upstream chain by 20% by 2030 › 100% procurement of renewable electricity at all AMAG production sites › Continuous improvement of energy efficiency across all operations › Maximisation of recycling rates and circular economy principles › Investment in research and development for low-carbon technologies

Climate Change Adaptation Policy: › Regular assessment of physical climate risks including acute events (storms, flooding, heavy precipitation) and chronic risks (temperature changes, precipitation patterns) › Implementation of resilience measures for production facilities › Development of emergency response procedures for extreme weather events › Integration of climate risk considerations into business continuity planning › Monitoring and assessment of supply chain vulnerabilities to climate impacts

Governance and Implementation: › Climate policies are overseen by the Management Board and monitored by the ESG Committee of the Supervisory Board › Regular review and updating of policies based on scientific developments and regulatory changes › Integration of climate considerations into investment decisions and strategic planning › Employee training and awareness programmes on climate-related issues › Transparent reporting on climate performance and progress towards targets

The policies are aligned with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) and support the company's contribution to limiting global warming to 1.5°C as outlined in the Paris Agreement. Regular assessments ensure the policies remain effective and relevant to emerging climate challenges and opportunities.

Actions and resources in relation to climate change policies

AMAG has implemented comprehensive actions and allocated significant resources to support its climate change policies:

Energy and Emissions Management: › Continued procurement of 100% renewable electricity for all production sites › Expansion of photovoltaic systems at the Ranshofen site (new facility: 63,000 m²) › Implementation of energy efficiency measures across all operations › Regular energy audits and optimisation of energy-intensive processes › Installation of energy monitoring systems for real-time tracking

Decarbonisation Roadmap Implementation: › Development and implementation of the AMAG Decarbonisation Roadmap › Investment in research and development for breakthrough technologies › Collaboration with technology partners and research institutions › Pilot projects for alternative reduction processes › Assessment of carbon capture and utilisation technologies

Circular Economy and Recycling: › Maintaining high recycling rates (75-80% scrap utilisation in foundries) › Development of AL4® ever product portfolio with low CO2 footprint › External verification of product-specific CO2 footprints according to ISO 14067 › Expansion of closed-loop concepts with customers › Investment in recycling infrastructure and technology

Supply Chain Engagement: › Procurement of ASI-certified materials (43% of scrap, 44,800 tonnes of certified aluminium) › Collaboration with suppliers on emission reduction initiatives › Implementation of responsible procurement management › Regular supplier assessments including ESG criteria › Support for suppliers in developing emission reduction strategies

Research and Development: › Investment in clean technology research › Collaboration with universities and research institutions › Development of innovative production processes › Patent applications for low-carbon technologies › Participation in industry research consortiums

Risk Management and Adaptation: › Integration of climate risks into enterprise risk management system › Regular climate risk assessments for all sites › Development of adaptation measures for physical climate risks › Business continuity planning for extreme weather events › Insurance strategies for climate-related risks

Resources Allocated: › Dedicated sustainability team and climate experts › Annual budget allocation for climate-related investments › Management time and attention focused on climate issues › Training and capacity building for employees › External advisory services and technical expertise

Monitoring and Reporting: › Regular monitoring of GHG emissions across all scopes › Annual sustainability reporting including climate metrics › Third-party verification of key climate indicators › Integration of climate KPIs into management incentive systems › Participation in climate-related disclosure initiatives and ratings

Substances of concern and substances of very high concern

ESRS E2-5 (Substances of concern and substances of very high concern) is not material for AMAG Austria Metall.

Materiality Assessment Result

As stated in the company's non-financial statement (p. 25):

"E2 - Pollution: microplastics, substances of (very) high concern" [are not reported for the 2024 financial year]

The company explanation (p. 25) notes:

"Substances of concern and substances of very high concern are not used in the main processes and for the manufacture of the main products."

Chemical Compliance and Management

Despite the non-materiality determination, AMAG has established comprehensive chemical management systems:

REACH Compliance: The company fulfils legal obligations under REACH and CLP Regulation through designated REACH officers at AMAG Ranshofen and environmental officers at AMAG components sites. Key activities include:

• Registration of metals contained in AMAG products
• Ongoing review of auxiliary and operating materials for changes to substance content
• Updates to the REACH candidate list, Annex XIV and Annex XVII
• Information transfer in the supply chain
• Provision of safety data sheets and technical data sheets via the AMAG website

Substance Exclusions: AMAG products do not contain:

• PFAS / PFAS compounds
• Microplastics
• Mercury (as an intentional substance; monitored as trace element)
• POPs / PFOA compounds
• Ozone-depleting substances (CFCs, halon)

RoHS Directive Compliance: Substances listed in Annex II are not manufactured, placed on market or used above specified maximum concentrations, with the exception of lead as an alloying element in aluminium up to 0.4% by mass (permitted under Annex III exception 6b). Small quantities of alloys with lead content >0.4% are produced on special customer request with appropriate safety information provided.

Conflict Minerals: No conflict minerals (tantalum, tin, gold, tungsten from DRC countries; extended: cobalt, micas) were purchased in 2024.

No quantitative data on total amounts of substances of concern or substances of very high concern has been disclosed, consistent with the non-materiality determination.

ESRS E5-4 – Resource Inflows

AMAG discloses detailed metrics on resource inflows including raw materials and water. The main resources used in the production of semi-finished aluminium products and components are aluminium scrap, primary aluminium and rolling slabs, and alloy metals such as magnesium, silicon, manganese, copper and zinc, as well as semi-finished products made of aluminium, titanium and iron for component production at AMAG components. In addition, cooling and process water, which cannot be recirculated, as well as auxiliary and operating materials are used in production.

The number of aluminium scrap suppliers is 159 (2023: 153). 16 main suppliers (2023: 16) cover 50% of the total scrap requirement.

The quantities of raw materials reported are the weights according to AMAG's incoming goods inspection for scrap, primary aluminium, rolling slabs and alloy metals.

External Procurement of Raw Materials

Figures for the individual items are rounded

In the 2024 financial year, the scrap input (purchased external scrap and recycled scrap from own production) amounted to around 294,700 tonnes (2023: 295,500 tonnes). This corresponds to an average scrap utilisation rate of 76.0% (2023: 76.1%) across all products.

Water Resources

The specific industrial water withdrawal at the Ranshofen site amounted to 5.1 m³/t in 2024 (2023: 5.7 m³/t). The reduction in industrial water withdrawal results from the change in the production mix and capacity utilisation. Drinking water extraction, based on the quantities withdrawn by AMAG Ranshofen, other companies at the site and the municipality of Braunau, totalled 157,000 m³ (2023: 113,000 m³). Industrial water production, including external companies based at the site, totalled 3,263,000 m³ (2023: 3,611,000 m³).

Packaging Materials

Packaging materials made of wood, paper and plastic are used to ensure safe transport. The actual weights are used to determine the packaging materials for Ranshofen. To determine the quantity of packaging materials for AMAG components, a quantitative estimate is made based on the order quantities of packaging materials for the Übersee site. In addition, reusable transport containers (around 180 units) are used for component transport.

Figures for the individual items are rounded

The proportion of organic materials in packaging is around 70% (2023: 64%). Wood for the production of transport pallets is sourced by suppliers exclusively from sustainable forestry (PEFC certification) or regional forestry (Germany and Austria). This means that the proportion of wooden pallets that are sustainably sourced is 100%.

Critical and Strategic Raw Materials

Aluminium, titanium and alloy metals such as copper, magnesium, manganese, etc., as well as the aluminium ore bauxite and alumina are on the list of critical and strategic raw materials in accordance with Annex II of Regulation (EU) 2024/1252 establishing a framework to ensure a secure and sustainable supply of critical raw materials. No rare earths are used in the manufacturing process.

Additional Context

No biological materials (excluding packaging) are used in the manufacture of AMAG products.

No conflict minerals were purchased in the 2024 reporting year.

Due to the focus on the material flows of the main raw materials, the technically possible use of secondary raw materials for the production of packaging and the proportion of recycled materials is not yet fully known. According to manufacturers, the use of secondary raw materials for stretch films is not yet feasible due to the technical requirements for AMAG applications.

Resource outflows

AMAG maintains a 100% recyclability of all aluminium products, enabling closed-loop material cycles. The company produces approximately 5,000 different products based on over 200 alloys at the Ranshofen site.

Recyclability and recycled content:

• Target: Maintaining 100% recyclability and closed-loop orientation of AMAG products (achieved in 2024)
• Average scrap utilisation rate: 76.0% in 2024 (target range: 75-80%)
• ASI-certified scrap proportion: 43% in 2024 (target: >35%)
• 294,700 tonnes of aluminium scrap processed in 2024

AMAG AL4® ever product portfolio: AMAG offers products with certified low CO2 footprints, externally verified according to ISO 14067:

• Primary aluminium products: ≤4.0 tonnes CO2/tonne aluminium (represents >70% reduction vs. global average of 14.8 tonnes CO2/tonne)
• Products manufactured with high recycled content and renewable electricity
• Recycled content defined according to ISO 14021

The calculation of product-related CO2 footprint is externally verified, and certificates guarantee customers the low emission values. Aluminium can be recycled infinitely without any loss of quality, requiring only around 5% of the energy needed to produce primary aluminium.

Design for circularity: AMAG focuses on:

• Alloy-to-alloy recycling capabilities
• Recycling-compatible alloys and crossover alloys
• Closed-loop concepts with customers
• Products designed for end-of-life recovery and remelting

AMAG components (Germany) manufactures ready-to-install structural parts and assemblies for the aerospace industry through mechanical processing. By recycling production waste and using scrap after product utilisation, the resource conservation cycle is closed at the Ranshofen site.

Waste

Waste management targets and performance:

Total waste generated at Ranshofen site (2024):

Note on 2023 figures: Production-specific waste figures excluding salt slag for 2023 were published in the 2023 Annual Report as at the reporting date. Key waste figures may change until the annual waste balance sheet is reported to the responsible body (15 March of the following year). Final key figures for 2023 are reported in section E5.

Waste treatment and disposal (Ranshofen site, 2024):

Waste management approach:

WASTE MANAGEMENT STRATEGY: At the Ranshofen site, waste management follows the waste hierarchy principle, with the primary goal of waste avoidance and reduction. Unavoidable waste is segregated at the point of generation into categories for optimal disposal pathways:

• Recycling as the preferred option
• Thermal utilisation with energy recovery
• Safe disposal for hazardous waste

The Energy and Environmental Management department coordinates waste management. All waste is documented systematically with system support, and data is collected continuously, monthly, or quarterly depending on waste streams.

Salt slag: Salt slag is a by-product of aluminium melting that contains metallic aluminium and salt. AMAG has established partnerships with external processors who recover aluminium and salt from the slag for reuse. The recovered aluminium is returned to AMAG's production cycle, and the salt is reprocessed. This represents a circular economy approach to this significant waste stream.

Hazardous waste: Hazardous waste (2,763 tonnes in 2024) includes materials such as contaminated operational waste, oils, and chemicals. These materials are handled according to strict regulations and disposed of through certified waste management companies.

Performance: The specific waste volume of 18.4 kg/t in 2024 represents a 2.6% improvement compared to 2023 (18.9 kg/t), though it did not yet achieve the target of <16 kg/t. The total waste volume including salt slag increased from 45,975 tonnes in 2023 to 50,138 tonnes in 2024, primarily due to increased salt slag generation (39,700 tonnes vs. 35,600 tonnes).

AMAG components sites: No separate waste data is disclosed for the Karlsruhe and Übersee sites in Germany.