The Acerinox Board of Directors is the body responsible for representing and managing the Company. This body has all the non-delegable powers established by Royal Legislative Decree 1/2010, of July 2, which approves the revised text of the Corporate Enterprises Act, as well as those established in the Regulations of the Board of Directors, including the monitoring and supervision of sustainability management at the Group, including the monitoring and execution of related policies.

In accordance with Article 19 of the Company Bylaws and Article 4.1 of the Regulations of the Board of Directors, the Board of Directors shall be comprised of a number of Directors to be determined by the General Shareholders' Meeting, between a minimum of five and a maximum of fifteen. The General Shareholders' Meeting held on April 11, 2019 set the maximum number of members of the Board of Directors should at least 40% of the total. All this has led to a progressive increase in the number of female Directors from 23.08% in 2018 to 36.4% at December 31, 2024, complying with the figure set for eleven-member Boards according to the Annex to Directive (EU) 2022/2381 of the European Parliament and of the Council of November 23, 2022 on improving the gender balance among directors of listed companies and related measures. Among the Independent Board Members, female members represent 57% of the Board.

When new vacancies have arisen, the Appointments, Remuneration and Corporate Governance Committee endeavors to ensure that the candidates include women who meet the desired profile, ensuring a non-discriminatory process with the underrepresented sex.

Pursuant to the appointments and re-elections proposed to the General Shareholders' Meeting in recent years (Ms. Rosa María García Piñeiro, Ms. Laura González Molero and Ms. Marta Martínez Alonso in 2017; Ms. Leticia Iglesias Herraiz in 2020; and Ms. Laura González Molero, Ms. Rosa María García Piñeiro and Ms. Marta Martínez Alonso in 2021), the appointment policy used by the Company demonstrates that not only are there no implicit biases that could imply any discrimination and hinder the election of female Directors, but that the Company has deliberately sought to appoint female Directors who meet the requirements of honorableness, suitability, recognized professional solvency, skill, experience, qualifications, training, availability, and commitment, which are indispensable for the proper performance of their duties.

At the behest of the Appointments, Remuneration and Corporate Governance Committee, the Board of Directors drew up and approved its own skills matrix. This document is made to serve as a mandatory guide for all Board Member selection processes and assignments to specific Committees.

In order to ensure that Directors have the necessary skills to carry out their duties properly, the Appointments, Remuneration and Corporate Governance Committee appointed the members who, in accordance with the current General Board Diversity and Director Selection Policy, meet the requirements of honorableness, suitability, recognized professional solvency, skill, experience, qualifications, training, availability, and commitment to their duties, which are indispensable for the proper performance of their duties.

The members of the Board of Directors bring together a huge range of skills, encompassing industry, sales, investment banking, and finance, as well as specialization in areas such as audit, sustainability, energy and new technologies. It is also common for directors to have previous experience on the boards of other major international companies. The criteria for assigning profiles to each Committee are similar to those of the Board.

There are no directors representing employees and other workers.

The role of the administrative, management and supervisory bodies

The Board of Directors is Amadeus' highest representative, administrative, managerial and controlling body. It sets out the company's general guidelines and economic objectives (financial and non-financial) and carries out the company's strategy (steering and implementation of company policies), supervision activities (management control) and communication functions (liaising with shareholders).

The Spanish Capital Companies Act also gives further powers to the Board of Directors, some of which are non-delegable. In this regard, the Board of Directors is the responsible body for policies on, among others: • Corporate Social Responsibility. • Dividends. • Risk management and control (including fiscal risks). • Corporate governance. • Tax strategy. • Related-party transactions (other than those reserved for the General Shareholders' Meeting), with delegation faculties under certain circumstances.

Moreover, it is responsible for the definition of the company's sustainability policy (relating to environmental, social and corporate governance matters, among others) and that of the Group; its organization and functioning and, in particular, the approval and amendment of its own regulations.

Additionally, among its responsibilities lie risk management, which includes transition and physical risks related to climate change and other sustainability related risks. The Board also reviews and approves Amadeus' sustainability strategy.

Board Composition As of December 31, 2024, the Board consists of eleven members, one executive director, Mr. Luis Maroto Camino, President and CEO of Amadeus, and ten external non-executive directors, all of them independent (90.9%).

• Female Directors represent 45.45% of the members of the Board of Directors as of December 31, 2024. • Six (6) nationalities are represented on the Board. • The age of the members of the Board ranges from 50 to 70.

Composition of the Board of Directors

The Board of Directors is supported by the Audit Committee and the Nominations and Remuneration Committee (consisting of five non-executive Directors each), both with responsibility over sustainability matters.

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.

The governance system and the organisation of the different decision-making levels are both being continuously improved and adapted to the needs that are emerging from the new sustainability environment.

Board of Directors

With the exception of matters reserved to the Annual General Meeting, Banco Sabadell's Board of Directors is the most senior decision-making body of the company and its consolidated Group as it is responsible, by law and pursuant to the Articles of Association, for the management and representation of the Bank. The Board of Directors acts mainly as an instrument of supervision and control, delegating the management of the Institution's ordinary business matters to the Chief Executive Officer.

The Board of Directors is subject to well-defined and transparent rules of governance, in particular to the Articles of Association and the Regulation of the Board of Directors, and it conforms to best practice in the area of corporate governance. To ensure better and more diligent performance of its general supervisory duties, the Board is directly responsible for approving the Institution's general strategies. It also approves its policies and is therefore responsible for establishing principles, commitments and objectives in the area of sustainability, and for including them in the Institution's strategy.

As at 31 December 2024, the Board of Directors is made up of fifteen members. Of these, two are Executive Directors (13.33% of the total Board) and thirteen are Non-Executive Directors, while ten are Independent Directors (66.67% of the total Board), two are Other External Directors (13.33% of the total Board) and one is a Proprietary Director (6.67% of the total Board). There is no trade union representation on the Board.

As at 2024 year-end, there were six female directors, including five female Independent Directors out of a total of ten Independent Directors and one female Other External Director. Women represent 40% of the full Board of Directors, thus bringing forward the fulfilment of the Bank's commitment stated in Sabadell's Commitment to Sustainability and achieving early compliance with the provisions of Organic Law 2/2024 of 1 August on equal representation and balanced presence of women and men.

When defining the general strategy, the business objectives and the risk management framework of the Institution, the Board of Directors considers aspects related to sustainability, including climate-related, environmental, social and governance risks, and it also effectively oversees them.

In April 2024, the Board of Directors revised its Sustainability Policy, which incorporates ESG parameters into the activities and organisation of Banco Sabadell Group. This policy establishes the core principles that guide Banco Sabadell Group in its task of addressing the challenges of sustainability, defining the management parameters, as well as the organisation and governance structure needed for its correct implementation.

In relation to the management and control of environmental risk, the Board is ultimately responsible for embedding it into the general strategy and for establishing the necessary mechanisms for its review. Its duties range from monitoring environmental risk to approving and reviewing the organisational and functional framework for managing, controlling and reporting on this risk, approving the associated policies and reviewing them on an annual basis. Lastly, it is worth noting that the Board of Directors has received specific training on climate risk management, the impact deriving from those risks, policies and regulations in that regard, as well as measurement metrics such as the carbon footprint and decarbonisation pathways.

Board Committees

The Board Strategy and Sustainability Committee was set up in 2021 and is chaired by the Chairman of the Board of Directors, in the capacity of Other External Director. It is formed of five Directors: three Independent, one Other External and its Chair. This Board Committee met 15 times in 2024.

This Board Committee is responsible for analysing and reporting to the Board of Directors on environmental risk policies and for reporting to the Board of Directors on any amendments or periodic updates of the environmental risk strategy. It is also responsible for supervising the model for identifying, controlling and managing risks and opportunities in relation to sustainability including, where applicable, environmental risks.

The Board Strategy and Sustainability Committee carries out regular monitoring of the Institution's progress in ESG matters through the review of the Corporate Sustainability Report, which contains information about the overall ESG environment in the context of the macroeconomic and regulatory environment, and about the Institution's ESG outlook, the integration of ESG risks into management arrangements and the priority indicators of Sabadell's Commitment to Sustainability.

With regard to sustainability, the Board Committee has the following duties:

• Analyse and inform the Board of Directors about the Institution's sustainability and environmental policies.

• Inform the Board of Directors of any modifications or regular updates of the sustainability strategy.

• Analyse the definition and, where applicable, amendment of policies on diversity and integration, human rights, equal opportunities and work-life balance and evaluate the level of compliance therewith on a regular basis.

• Review the Bank's social action strategy and its sponsorship and patronage plans.

• Review and report on the Sustainability Report prior to its review and reporting by the Board Audit and Control Committee and its subsequent sign-off by the Board of Directors.

• Receive information in connection with reports, documents or communications from external supervisory bodies within the scope of responsibility of this Board Committee.

Other Board Committees are involved to various degrees in the sustainability governance arrangements:

Board Appointments and Corporate Governance Committee: took on duties in relation to the disclosure of internal corporate policies and regulations, the oversight of rules on corporate governance, and the relationship with shareholders and investors, proxy advisers and other stakeholders. This Board Committee is formed of three Independent Directors and one Other External Director.

Board Audit and Control Committee: oversees the process to prepare and submit regulated financial and non-financial information and escalates to the Board of Directors recommendations or proposals intended to safeguard its integrity. This Board Committee is formed of four Independent Directors, its Chair being an audit expert.

Board Risk Committee: oversees the implementation of the Institution's Global Risk Framework Policy and is responsible for advising and supporting the Board of Directors with regard to the monitoring of the Bank's risk appetite and general risk strategy. This Board Committee is formed of four Independent Directors.

Internal Committees

The Management Committee regularly monitors the Sustainable Finance Plan and any updates to the regulatory framework. It is also in charge of overseeing the aforesaid plan and resolving any incidents.

The Sustainability Committee, created in 2020 and chaired since 2021 by the General Manager and head of the Sustainability and Efficiency division, is the body responsible for establishing the Bank's Sustainable Finance Plan and for monitoring its execution, for defining and disclosing the general action principles in the area of sustainability and for promoting the development of projects and initiatives. It is made up of 11 members and it meets once a month. The Sustainability Committee met 11 times in 2024.

Organisation

The Sustainability and Efficiency division was created in 2021 and is the unit responsible for defining and managing Banco Sabadell Group's responsible banking strategy, including the cross-cutting implementation of ESG criteria across all of the Bank's business units, affiliates and subsidiaries. The Sustainability and Efficiency Director is a General Manager who forms part of the Institution's Management Committee and reports directly to the Chief Executive Officer.

At the end of 2024, certain internal organisational changes were approved, applicable as from 1 January 2025, as a result of which the Sustainability division is to be integrated within the People division. The Director of the People and Sustainability division is a General Manager who forms part of the Institution's Management Committee and reports directly to the Chief Executive Officer.

The Bank is organised according to the system of the three lines of defence, and each line has teams dedicated to Sustainability-related matters:

• First line of defence: business areas have been reinforced by setting up specific units that coordinate with commercial teams to create sustainable financing solutions for customers. Risk teams have also been expanded to perform ESG functions in portfolio risk management.

• Second line of defence: new members have been added to the Compliance, Credit Risk Control, Internal Control and Models Validation teams to reinforce the second line of defence.

• Third line of defence: teams were also enlarged to take on audit functions related to governance processes, risk management activities and internal control in the area of sustainability.

Corporate Governance of BIL Group

The corporate governance of BIL Group is articulated around the following organs:

A. GENERAL MEETING OF SHAREHOLDERS (GM)

The General Meeting of Shareholders has the widest powers to adopt or ratify any action related to BIL Group. The annual GM receives a management report from the Board on the Bank's activities in the previous financial year and approves the balance sheet and profit and loss account. The annual GM also appoints the Directors and, where necessary, their replacements, while respecting legal provisions regarding the representation of salaried staff and the statutory right for directors to appoint a new director temporarily in case of vacancy.

B. BOARD OF DIRECTORS (THE BOARD)

The Board has overall responsibility for BIL Group and is tasked with defining, monitoring, and ensuring the implementation of robust governance and internal control arrangements for sound and prudent management of the Bank. Among its missions, the Board is responsible for setting and overseeing the overall business and risk strategy, including the Risk Appetite Statement and Framework of BIL Group.

The Board is assisted by four specialised committees:

• Board Audit and Compliance Committee (BACC): Monitors and controls effective implementation and adherence to the Bank's approved charters, policies, accounting standards, and legal and regulatory requirements.
• Board Risk Committee (BRC): Ensures that all material risk matters are addressed and oversees current and anticipated risks within the BIL Group that could jeopardise financial and liquidity capacities.
• Board Remuneration and Nominations Committee (BRNC): Focuses on nomination and remuneration matters, assisting the Board in defining a global Remuneration Charter and advising on the suitability assessment and appointment/dismissal processes for Board and Management Board members.
• Board Strategy Committee (BSC): Assists the Board in setting strategic direction, advising on the Bank's overall strategy and budget, and providing recommendations.

C. MANAGEMENT BOARD (MB) AND EXECUTIVE COMMITTEE (EXCO)

The Board of Directors delegates the daily management of the Bank to the Management Board (MB), which consists of members authorised by the European Central Bank. The MB leads, directs, and manages BIL Group, implementing the strategy and achieving business objectives in line with the risk appetite set by the Board.

The ExCo comprises Authorised Managers and heads of support functions and business lines, chaired by the CEO. The Chief Compliance Officer and Chief Internal Auditor are permanent invitees to the ExCo.

Board Composition

Management body expertise on sustainability matters

The knowledge and experience of climate-related and environmental risk is one of the criteria assessed in the context of the individual and collective suitability assessment exercise, both when on-boarding a new member and on an annual basis. During this exercise, not only is each member asked to self-assess the level of his/her knowledge in this matter but the Bank, through its Board Remuneration and Nomination Committee, and ultimately the Board of Directors, proceeds to its own assessment both at individual and collective level.

In addition to being provided with relevant trainings, the management body receives regular expert updates on how the Bank performs in sustainability-related matters. Having a management body with an appropriate understanding and expertise of sustainability-related matters ensures that this topic is considered when discussing impacts, risks and opportunities.

The Combined Declarations of Corporate Governance of BASF SE and the BASF Group, pursuant to sections 289f HGB and 315d HGB comprise the chapters Corporate Governance Report (see page 111) including the description of the diversity concept for the composition of the Board of Executive Directors and the Supervisory Board (except for the disclosures required by takeover law), G1 Business Conduct (see page 317) and Declaration of Conformity Pursuant to Section 161 AktG (see page 145).

The Board of Executive Directors will focus on topics that are important to BASF as a whole: strategy, portfolio management, capital allocation and talent development. By contrast, individual divisions will have greater ownership of specific business decisions and accountability for business success.

The role of the administrative, management and supervisory bodies

BBVA's Corporate Governance system

The Sustainability governance model is integrated into BBVA's corporate governance system. BBVA has a corporate governance system, made up of a set of principles, rules and mechanisms that integrate and regulate the structures and operation of its corporate bodies. This System is configured, mainly, by the provisions of the Statutes, the regulations of its different corporate bodies and the general policies of the Bank approved by the Board of Directors.

Board of Directors

One of the main elements of BBVA's Corporate Governance system is the Board of Directors, which, as the highest body of representation, administration, management and oversight, performs both the functions of management of the Entity and those of supervision and control of management.

As of December 31, 2024, BBVA's Board of Directors comprises 15 members, two of whom were executive and 13 are non-executive directors. BBVA's Board of Directors has a balanced composition, with high levels of independence and diversity, both with regard to the presence of men and women and the different types of directors, capabilities, experience and knowledge.

At the close of the 2024 fiscal year, BBVA's Board of Directors comprises 46.66% women and 53.34% men, meeting the target set forth in the Board of Directors' Selection, Suitability, and Diversity Policy.

In terms of independence, at the close of the 2024 fiscal year, BBVA's Board of Directors includes ten independent directors, representing 66.66% of the total Board members and 76.92% of the non-executive directors on the Board. In terms of nationality, the Board of Directors has a total of seven nationalities (Spanish, Turkish, Portuguese, Danish, American, Mexican and Belgian), with 40% of non-Spanish directors.

Functions and responsibilities of the Corporate Bodies

The Board of Directors shall have the powers established at any time by applicable legislation and the Bylaws. Among other functions, the Board of Directors has the power to approve the general policies and strategies of the Entity. The Board carries out, directly or through its Committees, the monitoring of the decisions adopted, including the supervision of the implementation of general policies, and the supervision of the management of the Company and its Group.

Governance model of the Corporate Bodies in matters of sustainability

Within the context of the Group's general management and control framework, the Board of Directors has incorporated Sustainability as one of the Bank's strategic priorities, as reflected in the Group's Strategic Plan for the years 2019-2024.

The Board of Directors has approved the General Sustainability Policy, which defines and establishes the general principles and management and control objectives and guidelines that the Group must follow in terms of sustainable development.

The Corporate Bodies promote that Sustainability, which includes environmental, social and governance aspects (ESG), is integrated into all the Group's businesses and activities, from a global perspective, and that the material impacts, risks and opportunities arising from it are adequately managed.

The Bank has a Global Sustainability Area, which is responsible for designing and promoting the execution of the Group's strategic Sustainability agenda and business development in this area; for establishing the Group's objectives in these matters; and for promoting and coordinating the Group's various lines of work in this area.

Board Committees

The Board of Directors has a structure of committees that assist it on matters within its competence:

• Executive Committee: supports the Board of Directors in decision-making and in the ongoing monitoring of BBVA's strategy and objectives in terms of Sustainability
• Risk and Compliance Committee: supports the Board in integrating Sustainability into the analysis, planning and management of the Group's financial and non-financial risks
• Audit Committee: supervises the process of preparing and the content of the information that must be formulated by the Corporate Bodies in matters of Sustainability for publication
• Appointments Committee: ensures that the competencies related to Sustainability are taken into account when analyzing the composition of the Board of Directors
• Remuneration Committee: analyses the selection and monitors the evolution of strategic indicators linked to variable remuneration, including indicators related to Sustainability
• Technology and Cybersecurity Committee: assists the Council in monitoring the technology strategy and managing cybersecurity

Knowledge, experience and capabilities of the Board of Directors

The Board of Directors has been strengthening its competencies in Sustainability, both through specific training and through the incorporation in recent years of directors with extensive experience and knowledge in Sustainability. The Board of Directors has an annual continuous training program, in which non-executive directors receive specific training on matters relevant to the exercise of their functions, including those related to Sustainability.

Specifically, during the 2024 financial year, some of the training sessions included in the training program of the Board of Directors dealt specifically with issues related to Sustainability.

Bechtle AG operates according to the traditional dualistic principle. The Executive Board is the statutory body that decides on the management of the company and represents it externally. The second body is the Supervisory Board. Half of its members are elected by the shareholders at the Annual General Meeting and the other half by the German employees of the Bechtle Group. The Supervisory Board serves as a controlling body, appoints the Executive Board and monitors its work.

Executive Board responsibilities:

• Dr. Thomas Olemotz, Chairman of the Executive Board. Finance, Tax and Insurance, Review of Financial Statements and Auditing, Human Resources and Personnel Development, Investor Relations, Group Controlling, Real Estate and Mobility, Mergers & Acquisitions and Corporate Development, Legal & Compliance, Corporate Communications, CISO and Bechtle Stiftung gGmbH.

• Konstantin Ebert. Responsible for national and international IT E-Commerce, system houses outside Germany, Austria and Switzerland, and International Areas (IBU, GITA).

• Michael Guschlbauer. Responsible for the IT System House & Managed Services segment, Public Sector Division, Central Project Management, CTO (disciplinary responsibility), and Quality & Environmental Management.

• Antje Leminsky. Responsible for Bechtle Logistik & Service GmbH, Financial Services and Sustainability Management.

Risk Management, Compliance, CTO and Marketing are the joint responsibility of the entire Executive Board.

From 1 January 2025, Konstantin Ebert and Michael Guschlbauer were reallocated responsibilities on the Executive Board. The aim is to have responsibility for all sales channels in the national markets in one hand. The new allocation of responsibilities is as follows:

• Konstantin Ebert: Multichannel responsibility for the national markets of Belgium, France, Ireland, Italy, the Netherlands, Poland, Portugal, Switzerland, Spain, the Czech Republic, Hungary and the United Kingdom.

• Michael Guschlbauer: Multichannel responsibility for Germany and Austria, as well as all specialists of the Bechtle Group.

As required by law in Germany for stock corporations (Aktiengesellschaften), Beiersdorf AG has a dual management and supervisory structure consisting of the Executive Board and the Supervisory Board.

Executive Board

Our Executive Board takes sole responsibility for managing the company and conducting the company's business. It performs its duties in the company's best interests and is dedicated to sustainably increasing the enterprise value. The members of the Executive Board are appointed by the Supervisory Board. An Executive Committee was established to support the operational control of the Beiersdorf Group's Consumer Business Segment. This comprises the members of the Executive Board and two individuals with global management functions.

The Beiersdorf Group Executive Board has seven members, in 2024 43% of them were female (Astrid Hermann, Nicola D. Lafrentz, and Grita Loebsack).

Collectively, all members of the Executive Board must possess extensive relevant international experience aquired from years of working abroad or special expertise in our key international markets. Sector-specific knowledge is also required.

Primary responsibility for sustainability matters within the Executive Board lies with the Chairman of the Executive Board, Vincent Warnery, and Labor Director Nicola D. Lafrentz. Within the Executive Committee, Dr. Gitta Neufang (Chief Research & Development Officer) and Michael Frey (Chief Supply Chain Officer) also have environmental, social, and governance (ESG) expertise. Dr. Gitta Neufang is also a sponsor of the Sustainability Council, the cross-functional management body for material sustainability matters in the Consumer Business Segment.

Supervisory Board

Our Supervisory Board comprises 12 members. In 2024

• 58% were female,

• 50% of shareholder representatives and 100% of employee representatives were independent within the meaning of the German Corporate Governance Code in the opinion of the Supervisory Board, and

• six members were employee representatives.

The Supervisory Board ensures that its members collectively have the knowledge, skills, and professional experience needed to perform their duties properly. In terms of their expertise, the members must collectively, in accordance with § 100 (5) Aktiengesetz (German Stock Corporation Act, AktG), be familiar with the sector in which the company operates; in addition, there must be at least one member with expertise and experience in each of the following specific areas:

• Business areas and sectors (consumer goods, beauty and skin/body care, international markets, including emerging markets)

• Marketing and Sales (brand development and management, distribution and retail, communication and media)

• Research and Development (R&D), including innovation management

• Supply Chain (supply chains and production)

• Human Resources and Organization (personnel development and management, corporate organization, corporate culture, diversity)

• ESG (sustainability, corporate social responsibility, ethics)

• Law and Governance (law, compliance, auditing, regulatory law, corporate governance)

• Information Technology (IT) and Digitalization (digitalization, data management, IT and IT security)

• Finance (finance and controlling, accounting and auditing, each including sustainability reporting, risk management and internal control systems)

Donya-Florence Amer has been responsible for ESG matters within the Supervisory Board since 2024.

BMW AG is a stock corporation (Aktiengesellschaft) within the meaning of the German Stock Corporation Act. It has an executive Board of Management and a Supervisory Board that monitors how the Company is managed by the Board of Management.

Board of Management – Duties, diversity, expertise

The Board of Management has overall responsibility for the management of BMW AG. It defines the strategy and resource framework and takes actions to implement the strategy. The Board of Management decides on product and customer-related issues of particular importance and consequence to the BMW Group, as well as on automobile product strategy. The Board of Management incorporates various sustainability matters into the decisions taken at its meetings and addresses the material impacts, risks and opportunities associated with the Company's course of business.

As at 31 December 2024, 14% of the seven members of the Board of Management were female and 86% were male based on the composition principles and taking into account the ESRS reporting obligations.

The Board of Management must comprise at least one man and one woman. The Board of Management deals with the impacts, risks and opportunities arising from business development on a continuous basis.

Supervisory Board – Composition, diversity, expertise

BMW AG's Supervisory Board is composed of ten shareholder representatives (elected by the Annual General Meeting) and ten employee representatives (elected in accordance with the German Co-Determination Act). Female members made up 30% of the Supervisory Board at the end of 2024.

Skills Matrix Board of Management and Supervisory Board

Both the Board of Management and Supervisory Board have expertise across all material sustainability topics including:

• Climate change
• Pollution
• Water and marine resources
• Biodiversity and ecosystems
• Circular economy and resource use
• Own workforce
• Workers in the value chain
• Consumers and end-users
• Business conduct

Supervisory Board – Duties and committees

The Supervisory Board monitors the activities of the Board of Management and advises the Board of Management on important matters relating to the management and the strategic development of the Group. Sustainability issues and their associated material impacts, risks and opportunities are of key importance to the Supervisory Board.

The Supervisory Board has established committees including:

• Presiding Board - prepares meetings and addresses sustainability matters
• Audit Committee - reviews sustainability reporting and monitors ESG risks
• Personnel Committee - addresses Board of Management remuneration including sustainability targets
• Nomination Committee - prepares election proposals considering diversity objectives

The Board of Directors is responsible for the overall conduct of the Cementir Group and has the powers, authorities and duties vested in it by and pursuant to the relevant laws of the Netherlands and the Articles of Association. In all its dealings, the Board shall be guided by the interests of the Cementir Group as a whole, including but not limited to the Company's shareholders and also taking into account the interests of relevant stakeholders. The Board has the final responsibility for the management, direction and performance of the Company and the Cementir Group.

The Board of Directors is currently made up of one Executive Director (Francesco Caltagirone, Chief Executive Officer or "CEO") and seven Non-Executive Directors (Alessandro Caltagirone and Azzurra Caltagirone, Vice Chairmen; Adriana Lamberto Floristan, Senior Non-Executive Director; Saverio Caltagirone, Fabio Corsico, Benedetta Navarra and Annalisa Pescatori).

Three Non-Executive Directors of the Company are qualified as independent for the purposes of the Code: Adriana Lamberto Floristan, Benedetta Navarra and Annalisa Pescatori.

The Board has allocated duties and powers to the Directors by Board Rules approved pursuant to Art. 7.1.5 of the Company's Articles of Association on 5 October 2019 and subsequently last amended on 27 April 2023.

Board Committees

Audit Committee

The Audit Committee consists of three members: 1. Benedetta Navarra (Chairman, expert in financial reporting), 2. Annalisa Pescatori, 3. Adriana Lamberto Floristan. All members of the Audit Committee are independent pursuant to Best Practice provision 2.1.8 of the Code.

Remuneration and Nomination Committee

The Remuneration and Nomination Committee consists of three members: 1. Annalisa Pescatori (Chairman), 2. Benedetta Navarra, 3. Adriana Lamberto Floristan. All the members of the Remuneration and Nomination Committee are independent pursuant to Best Practice provision 2.1.8 of the Code.

Sustainability Committee

The Board of Directors established the Sustainability Committee in its current composition on 27 April 2023. The Sustainability Committee consists of: Chairman Francesco Caltagirone Jr., and Members Annalisa Pescatori (independent), Benedetta Navarra (independent), and Adriana Lamberto Floristan (independent).

The Group Sustainability Committee plays the key role of assisting Cementir Holding's Board in formulating and implementing a sustainability strategy for the creation of long-term value.

The role of administrative, management and supervisory bodies

Board of Management

The Board of Management of Covestro AG runs the company on its own responsibility with the goal of sustainably increasing the company's enterprise value, and determines and pursues its corporate objectives. It also defines the company's portfolio, allocates resources, and decides on both the financial and nonfinancial steering and reporting of the Covestro Group. Moreover, the Board of Management defines the long-term goals and strategy for the Group and sets forth the principles and policies for the resulting corporate policies.

Board of Management Composition:

• Dr. Markus Steilemann - Chief Executive Officer (CEO): His area of responsibility includes the Corporate Strategy; Group Innovation & Sustainability; Corporate Audit; Human Resources; and Communications functions.
• Christian Baier - Chief Financial Officer (CFO): He is responsible for the areas of Accounting; Controlling; Finance & Insurance; Information Technology & Digitalization; Investor Relations; Law, Intellectual Property & Compliance; Portfolio Development; and Taxes. He is also responsible for country-specific topics in the United States and China.
• Dr. Thorsten Dreier - Chief Technology Officer (CTO): He is responsible for the corporate Process Technology; Engineering; Group Procurement; and Group Health, Safety, Environment, and Reliability functions and coordinates the rollout of, and compliance with, global processes and standards and the rollout of initiatives in Covestro's production network. He is also the company's Labor Director.
• Sucheta Govil - Chief Commercial Officer (CCO): She is in charge of the seven business entities, including all business-related processes and areas of production, from procurement and application technology to sales. In addition, she is responsible for the three regional Supply Chain & Logistics units, which handle internal and external supply chains worldwide.

Supervisory Board

The Supervisory Board oversees and advises the Board of Management. The Supervisory Board has 12 members, half of whom are shareholder representatives and half employee representatives pursuant to the German Codetermination Act. The Chair of the Supervisory Board is Dr. Richard Pott. Petra Kronen was the Deputy Chair of the Supervisory Board until December 31, 2024.

Supervisory Board Role in Sustainability: During the reporting period, the Supervisory Board of Covestro AG performed its duties with due care in accordance with the law, the Articles of Incorporation, and the rules of procedure. During fiscal 2024, it monitored the conduct of the company's business by the Board of Management with regular frequency based on detailed written and oral reports received from the Board of Management, and also acted in an advisory capacity.

The Supervisory Board was kept regularly and fully informed about the company's intended business strategy, corporate planning (including financial, investment, and human resources planning), profitability, the state of the business, and the situation of the company and the Group (including the risk situation, risk management, and the compliance situation).

Committee Structure

The Supervisory Board had five permanent committees:

1. Presidial Committee
2. Audit Committee - Monitored the accounting and financial reporting process and the appropriateness and effectiveness of the internal control system, the risk management system, and the internal audit system, including sustainability-related aspects
3. Human Resources Committee
4. Nominations Committee
5. Sustainability Committee - The main topics of its deliberations were the circular economy, the pursuit of the Scope 1, Scope 2, and Scope 3 targets, and the implementation of the Corporate Sustainability Reporting Directive (CSRD)

Sustainability Committee Activities in 2024:

• February 16, 2024: Dealt with review of sustainability-related parts of the Group Management Report and recommended approval of the nonfinancial Group statement for 2023. Reviewed status of key implementation measures for Scope 3 targets.
• May 25, 2024: Established overview of regulatory risks and opportunities arising from regulatory environment. Discussed human rights due diligence and reviewed progress toward meeting Scope 1 and Scope 2 targets.
• September 23: Implementation of CSRD at Covestro and circular economy projects. Discussed status of CSRD implementation, sustainability reporting process, and double materiality assessment.
• November 22: Reviewed double materiality assessment, current status of CSRD implementation, and sustainability reporting process. Discussed physical climate risks and potential impacts of climate change on Covestro's business.

Governance Integration

The discussions between the Supervisory Board and Board of Management were always constructive and were conducted in the spirit of openness and trust. The Supervisory Board was always directly involved in decisions of material importance to the company. It discussed in detail the business trends described in the reports from the Board of Management and the prospects for the development of the Covestro Group as a whole, the individual segments, and the regions.

The role of the administrative, management and supervisory bodies

The Board of Directors of Crayon Group Holding ASA has ultimate responsibility for the management of the Company and for supervising its day-to-day management. The Board ensures that the Company has proper management with a clear internal distribution of responsibilities and duties. A division of work is established between the Board and the executive management team.

Board of Directors Composition:

Executive Management Team:

• Melissa Mulholland - Chief Executive Officer (appointed March 2021)
• Gudmundur Adalsteinsson - Chief Revenue Officer (joined 2013)
• Brede Huser - Chief Financial Officer (joined September 2023)
• Bente Liberg - Chief Human Resources Officer (joined March 2002)
• Jon Birger Syvertsen - Chief Operating Officer (became COO in 2024)

Board Responsibilities: The Board's primary responsibilities include: a. Participating in the development and approval of the Company's strategy b. Performing necessary control functions c. Acting as an advisory body for the executive management team

Its duties are not static, and the focus shall depend on the Company's ongoing needs. The chair of the Board is responsible for ensuring that the Board's work is performed effectively and correctly.

The Board ensures that members of the Board and executive personnel make the Company aware of any material interests that they may have in items to be considered by the Board.

Meeting Attendance in 2024: Between 1 January and 31 December 2024, the full board of directors held 22 meetings. A 100% attendance rate was recorded for 16 of the 22 meetings.

Committees: The Board has established three committees:

• Audit and ESG Committee (held 12 meetings in 2024)
• Remuneration Committee (held 4 meetings in 2024)
• Nomination Committee (held 9 meetings in 2024)

The CEO is responsible for the executive management of the Company. Furthermore, the Board issues instructions that state how the Board and the executive management shall handle agreements with related parties.

The role of the administrative, management and supervisory bodies

Danica's Board of Directors and Executive Board consider questions on sustainability. Board members complete the statutory board leadership course, and the Rules of Procedure for the Board of Directors stipulate that, based on the Danish FSA's requirements as to the knowledge and experience of board members in life insurance companies, the Board of Directors must once a year discuss and assess whether the relevant skills and expertise are represented on the Board. ESG is included as a parameter in this assessment. In addition, Danica is strengthening its sustainability expertise across the organisation to better integrate sustainability throughout the business.

Danica's top management consists of the Executive Board and the Board of Directors. At 31 December 2024, the Board of Directors had nine members: five elected at the annual general meeting, three elected by the employees and one external member appointed by the Danish Minister for Finance. The board members elected at the annual general meeting are up for election every year, and board members elected by the employees are elected for a period of four years, as prescribed by the applicable legislation. One of the five board members elected at the annual general meeting (20%) is independent, i.e. is not employed by the Danske Bank Group, and 20% of the members of the Board of Directors, i.e. one out of the total of five members elected at the annual general meeting, is a woman.

Danica has established a CSRD working group, which is responsible for Danica's CSRD project and the preparation of the double materiality assessment, which are approved by the CSRD steering committee, headed by the CFO. The CSRD project manager reports to the steering committee on the progress of the CSRD project. On this basis, new initiatives are considered to ensure the project's progress, and it is also discussed whether the necessary skills and expertise are represented in the organisation. Danica's Board of Directors is also involved when needed through presentations to the Audit Committee and the Board of Directors, both on the CSRD project and Danica's overall sustainability efforts.

Danone's governance structure is characterized by a Board of Directors model as a French corporation (société anonyme). The Company has been governed by a Board of Directors since its incorporation. The Board of Directors is responsible for determining the Company's strategic direction and overseeing its implementation by the management.

Board Composition and Responsibilities: The Board of Directors is composed of independent and non-independent directors who bring diverse expertise and experience to guide Danone's strategic decisions. The Board oversees the Company's sustainability strategy and its implementation through the Danone Impact Journey.

CEO Leadership: Antoine de SAINT-AFFRIQUE serves as Chief Executive Officer, leading the implementation of Renew Danone strategic plan and ensuring the integration of sustainability considerations into business strategy.

Mission-Driven Company Status: Danone has the status of Entreprise à Mission since July 3, 2020, following approval by the Shareholders' Meeting held on June 26, 2020. This status is recorded at the Paris Trade and Companies Register and reflects the Company's commitment to its social and environmental mission alongside financial performance.

Risk Management and Internal Controls: The administrative and management bodies maintain oversight of risk management and internal controls over sustainability reporting through dedicated committees and regular reporting mechanisms. The Company Strategy Department, supported by the Risk Committee and Advisory Committee, ensures strategic risks including sustainability risks are identified, assessed, and managed appropriately.

Sustainability Governance: The governance bodies address sustainability matters through regular review of the Danone Impact Journey progress, climate-related risks and opportunities assessment, and oversight of B Corp™ certification process. The Board receives regular updates on sustainability performance and strategic initiatives.

The overall responsibility for risk management lies with the Executive Leadership Team, but risk management activities are carried out throughout the organisation on a day-to-day basis.

Risk management is an integral part of the management of the Demant Group. Risks to which business areas, markets and operations are exposed are identified, monitored and mitigated at all management levels. Through frequent and transparent reporting, these measures ensure that key risks are escalated to the business area leadership, to functional boards, to the Executive Leadership Team, and if relevant, to the audit committee and ultimately the Board of Directors.

We have established a number of functional boards to ensure focus on governance, development and risk management in key areas globally, i.e. IT, Finance, HR, Sustainability and Legal & Compliance. The functional boards are responsible for risk management in their respective areas and for ensuring that policies, guidelines and processes are established to monitor risks and new legislation.

The audit committee oversees the risk management processes related to financial risks, including sufficient and efficient internal controls.

Responsibility for Digia's operations is held by the Shareholders' Meeting, Board of Directors, and the President & CEO assisted by the Group Management Team. Digia's highest decision-making body is the Shareholders' Meeting at which shareholders exercise their voting rights on company matters.

Board of Directors and Committees

The Board of Directors is elected by the Shareholders' Meeting, and is in charge of Digia's administration and the appropriate organisation of the company's operations. Under the Articles of Association, the Board of Directors must consist of a minimum of four and a maximum of eight members. Neither the CEO nor other company employees working under the CEO's direction may be elected members of the Board.

The Board of Directors has defined a Board diversity policy. It states that the requirements of the company's size, market position and industry should be duly reflected in the Board's composition. Both genders should be represented on the Board. It should be ensured that the Board as a whole will always have sufficient expertise in the following areas in particular:

• the company's field of business • managing a company of similar size • the nature of a listed company's business operations • management accounting • risk management • corporate sustainability statement • mergers and acquisitions • board work.

The members of Digia's Board of Directors have extensive and relevant expertise in these areas on the basis of their primary work experience and other positions of trust.

The majority of Board members must be independent of the company and a minimum of two of those members must also be independent of the company's major shareholders. Of the current members of the Board, Martti Ala-Härkönen, Santtu Elsinen, Sari Leppänen, Henry Nieminen and Outi Taivainen are independent of the company and its major shareholders. Robert Ingman is independent of the company. Robert Ingman is not independent of the company's major shareholders due to his holdings in related parties.

During the 2024 reporting year, Digia's Board of Directors had three (3) committees: the Audit Committee, the Compensation Committee, and the Nomination Committee. It is the Audit Committee's role to monitor impacts and risks. These committees do not hold powers of decision or execution unless separately authorised by the Board; their role is to assist the Board in decision-making concerning their areas of expertise. The committees report regularly on their work to the Board, which has decision-making and collegial responsibility over their actions.

Gender Distribution

Gender distribution of Board of Directors 2024: Women 33% (2), Men 67% (4)

Gender distribution of Management Team 2024: Women 20% (2), Men 80% (8)

CEO and the Management Team

The company's Chief Executive Officer is appointed by the Board of Directors. The CEO is in charge of Digia's business operations and administration in accordance with the instructions and regulations issued by the Board of Directors, and as defined by the Finnish Limited Liability Companies Act. The CEO chairs the Group Management Team's meetings. The CEO is not a member of the Board of Directors, but attends Board meetings. The Management Team assists the CEO in the preparation and implementation of strategy, routine management, and preparing items for consideration by the Board of Directors. The CEO is responsible for the Management Team's decisions. Members of the Management Team are tasked with implementing these decisions within their own areas of responsibility.

Digia's Management Team consists of ten people: the CEO, CFO, General Counsel, CTO and HR Director, as well as the SVP of Sales and Marketing and the SVPs of four business areas. All members of the Management Team have lengthy experience in the company's sector or their own area of expertise.

Under the authorisation of the Board of Directors, the Remuneration Committee approves the appointments of the members of the Group Management Team and decides on the terms and conditions of their service contracts on the basis of the CEO's proposal. There were no employees or employee representatives in Digia's Management Team during the 2024 reporting year.

Sustainability-related expertise and skills

The Board of Directors, its committees and the Management Team regularly discuss reviews of various aspects of sustainability, which are presented by the Group's experts and operational management. Through these reviews, Digia's senior executives learn about the most material impacts, risks and opportunities associated with the company's sustainability, as well as the company's progress towards its sustainability targets and its sustainability-related projects. These reviews ensure that Digia's management has up-to-date information and competence with regard to sustainability issues. The need for any follow-up measures or external expertise is also decided upon.

Board of Directors composition

DSB is an independent public institution owned by the Danish State. DSB is managed by a Board of Directors composed of representatives appointed by the Danish Ministry of Transport and representatives elected by the employees.

Management structure

DSB is managed by:

• A Board of Directors with representatives appointed by the Danish Ministry of Transport and representatives elected by employees
• Executive management led by CEO Flemming Jensen and CFO Pernille Damm Nielsen

Role in sustainability matters

The Board of Directors and management have oversight of DSB's sustainability strategy and implementation. DSB's purpose is 'A sustainable way forward with room for all of us', and sustainability is a central part of the strategy and day-to-day operations.

Strategic oversight

The Board and management oversee:

• Market-oriented DSB strategy with three main areas: attract more customers and improve customer satisfaction; deliver a competitive and sustainable DSB; develop employees and corporate culture
• Major investments in electric rolling stock and sustainable infrastructure
• Climate targets including reducing Scope 1 and 2 CO2e emissions by at least 8% by 2030
• Sustainability reporting and compliance with CSRD/ESRS requirements

The role of the administrative, management and supervisory bodies

BOARD OF DIRECTORS

The Board of Directors and the Chairman of the Board of Directors are appointed by the Shareholders' Meeting. In order to allow the presence of Directors designated by minority shareholders, the appointment of Directors takes place through the slate voting system. The current Board of Directors, appointed in May 2023 until the Shareholders' Meeting called to approve the 2025 financial statement, is composed of 9 members. Three Directors were appointed by shareholders other than the controlling one, thus guaranteeing minorities a higher number of representatives than required by law.

ENI'S GOVERNANCE MODEL

Eni's Corporate Governance is based on the traditional Italian model, which – without prejudice to the tasks of the Shareholders' Meeting – assigns responsibility for management to the Board of Directors, supervisory functions to the Board of Statutory Auditors (BoSA) and those of statutory audit to the Independent Auditors. The Board has entrusted the management of the Company to the Chief Executive Officer (CEO), who was last appointed on May 11, 2023, reserving the most significant strategic, operational and organisational responsibilities, in particular in the areas of governance, sustainability, internal control and risk management.

The Board of Directors has set up four internal committees, with preparatory, consultative and advisory functions: the Control and Risk Committee, the Remuneration Committee, the Nomination Committee and the Sustainability and Scenarios Committee, which report, through their respective Chairmen, at each meeting of the Board on the main issues examined.

The Board also confirmed the attribution to the Chairman of the Board of Directors of a significant role in internal controls, in particular with reference to the Internal Audit function, of which it proposes to the Board of Directors, in agreement with the CEO, appointment, dismissal, remuneration and resources, directly managing the relationship on behalf of the Board; the Chairman of the Board of Directors is also involved in the appointment processes of the other main Eni persons in charge of internal controls and risk management, such as the Officer in Charge of preparing the Company's financial reports, the members of the Supervisory Body, the Head of Integrated Risk Management and the Head of Integrated Compliance.

Composition and Diversity

The composition of the Board is also diversified in gender terms, in accordance with the provisions of applicable law and the By-laws, which were amended in February 2020 in view of the renewal of the corporate bodies. In particular, for 6 consecutive terms, the administrative and supervisory bodies must be composed of at least 2/5 of the less represented gender. The number of independent Directors present on the Board (7 out of the 9 Directors in office, of which 8 are non-executive and including the Chairman of the Board of Directors) is confirmed to be higher than the provisions of the By-laws and the Governance Code.

The role of the administrative, management and supervisory bodies

Our corporate governance framework and processes are formed to promote transparency and accountability in decision-making and day-to-day operations. Good corporate governance is a prerequisite for a sound and sustainable company and to ensure that we run our business in a justifiable and profitable manner for the benefit of employees, shareholders, partners, customers and society.

Governing bodies

The board of directors (BoD) has the overriding responsibility for supervising Equinor's management and operations and establishing control systems. The work of the BoD is based on its rules of procedures and applicable legislation describing its responsibility, duties and administrative procedures. This includes a duty to decide the company's strategy, ensure adequate control of the company's overall risk management and to appoint the chief executive officer (CEO).

The BoD shall consist of nine to eleven board members and as of 31 December 2024 had eleven members of which eight were shareholder representatives (73 percent) and three were employee representatives (27 percent). Of the board members, seven are men, four are women and four are non-Norwegians resident outside of Norway. Hence, the BoD consists of 36 percent women and 64 percent men.

Board sub-committees

The audit committee (BAC) acts as a preparatory body for the BoD in connection with risk management, internal control and financial and sustainability reporting. The BAC assists the BoD in exercising its oversight responsibilities in relation to: • The financial reporting process and the integrity of the financial statements • The sustainability reporting process and the integrity of the sustainability reporting • The company's internal control, internal audit and risk management systems and practices including the enterprise risk management framework • The election of and qualifications, independence and oversight of the work of the external auditors • Business integrity, including handling of complaints and reports

The safety, sustainability, and ethics committee (SSEC) acts as a preparatory body for the BoD in connection with reviewing the practices and performance of the company, primarily regarding safety, security, ethics, sustainability and climate.

The compensation and executive development committee (BCC) acts as a preparatory body for the BoD and assists in matters relating to management compensation and leadership development.

Management structure

The president and chief executive officer (CEO) has overall responsibility for day-to-day operations in Equinor. The CEO appoints the corporate executive committee (CEC) which considers proposals for strategy, risk appetite, goals, financial statements, as well as important investments prior to submission to the BoD.

The CEC consists of twelve executives of which eight are men and four are women and one is non-Norwegian resident in Norway. Hence, the CEC consists of 33 percent women and 67 percent men.

Board activities and oversight

The BoD has adopted an annual plan for its work which includes recurring items: safety, security, corporate strategy, business plans and targets, quarterly and annual results, annual reporting, ethics and compliance, sustainability, management's performance reporting, management leadership assessment and compensation and succession planning, project status review, people and organisation strategy and priorities.

There are dedicated risk sessions with the BoD and CEO at least twice a year to discuss current risk outlook and risk adjusting actions. The BoD discussed the energy transition in all ordinary board meetings either as integral parts of strategy and investment discussions or as separate topics.

The BoD has eight regular meetings per year and extraordinary meetings when needed. In 2024 the BoD had a total of 14 meetings.

Board competence and development

The BoD considers themselves to be a competent governing body with respect to the expertise, capacity and diversity appropriate to attend to the company's strategy, goals, financial and sustainability matters, main challenges, and the common interest of all shareholders.

The BoD continuously develops its knowledge and competence and among others had sessions in the following topics in 2024: • Energy Perspectives and the evolving external context – geopolitics, policy and energy • Sustainability reporting - trends and implications for energy companies • Deep-dive on EU Corporate Sustainability Reporting Directive and implications for Equinor • The energy transition in a geopolitical and a financial context • Strategy and future value creation

Board of Directors

The Board of Directors determines the business strategy, examines and approves all decisions on the Group's major strategic lines of action and monitors their implementation. Eramet's strategy aims to promote the Company's long-term value creation by considering the social and environmental challenges of its activities.

Composition

18 members

• Christel BORIES, Chair and Chief Executive Officer
• Émeric BURIN DES ROZIERS, independent director
• Christine COIGNARD, independent director
• François CORBIN, lead director, independent director
• Nathalie DE LA FOURNIÈRE (CEIR), director
• Héloïse DUVAL, director
• Jérôme DUVAL (SORAME), director
• Tanguy GAHOUMA BEKALE, director
• Jean-Yves GILET, director
• Solenne LEPAGE, independent director
• Manoelle LEPOUTRE, director
• Ghislain LESCUYER, independent director
• Miriam MAES, independent director
• Nicolas NOEL, director representing employees
• Franck PECQUEUX, director representing employees
• Arnaud SOIRAT, independent director
• Romain VALENTY, director appointed by the state
• Jean-Philippe VOLLMER, director

Key statistics

• 12 meetings in 2024
• 44% proportion of independent directors (7/16, excluding employee representatives)
• 44% gender balance (7/16, excluding employee representatives)
• 90% average attendance rate of directors at meetings

Composition of the Executive Board and Supervisory Board

The Executive Board of EVN had three members as of 30 September 2024. Of the 15 members of the Super­visory Board on that date, ten were elected by the Annual General Meeting. The Supervisory Board also included five members as of 30 September 2024 who were delegated by the works council.

Relevant experience of the members of the Executive Board and Supervisory Board

The listed EVN Group, together with its subsidiaries and Group companies, is active primarily in Austria, Germany, ­Bulgaria and North Macedonia. With state-of-the-art infrastructure, it provides electricity, natural gas, heat, drinking water supplies, wastewater disposal and thermal waste utilisation from a single hand. The product portfolio also includes network operations for internet and telecommunications as well as various energy services for private and business customers and municipalities.

The members of the Executive Board and Supervisory Board, as seen from a general overview, have relevant experience and knowledge in both an international and listed context in the following areas: controlling, accounting, corporate accounting, finance and risk ­management, investor relations, procurement and purchasing, internal audit, human resources, communication, IT and data processing, safety and infrastructure, customer relations, innovation and sustainability, energy generation, the energy sector, sales, project development, stakeholder management, legal affairs and the capital markets.

Disclosures on the diversity of the ­Executive Board and Supervisory Board

The Executive Board as of 30 September 2024 included one female member (33.3%) and two male members (66.7%), all of whom ranged in age from 40 to 60 years.

The 15 members of the Supervisory Board as of 30 September 2024 included six women (40%) and nine men (60%). Of this total, 6.7% were younger than 40 years old, 53.3% between 40 and 60 years old, and 40% older than 60 years.

Of the Supervisory Board members elected by the Annual General Meeting, 90% are independent of the company and its Executive Board according to C-Rule 53 of the Austrian Corporate Governance Code (ACGC). The members classified as independent according to C-Rule 53 of the ACGC include six persons who do not hold or represent the interests of an investment of more than 10%. Based on the total number of Supervisory Board members elected by the Annual General Meeting, 60% are classified as independent according to C-Rule 54 of the ACGC.

Working procedures, roles and responsibilities of the Supervisory Board

At the Supervisory Board level, the Audit Committee includes Maria Patek as a sustainability expert together with shareholder representatives Georg Bartmann, ­Reinhard Wolf, Jochen Danninger and Willi Stiowicek and the employee representatives Paul Hofer, Uwe ­Mitter and Monika Fraißl. This committee is also responsible for reviewing the non-financial statement according to the rules of procedure for the Supervisory Board (§ 267 (6) of the Austrian Commercial Code). The Audit Committee meets at least twice each year and reports to the full Supervisory Board.

Sustainability organisation

At the Executive Board level, the staff department for innovation, sustainability and environmental protection reported to the full Executive Board up to 31 August 2024. This staff department was upgraded to a corporate function as of 1 September 2024, renamed "innovation and sustainability" and assigned to the reporting line of the CTO through a change in the rules of procedure for the Executive Board.

The corporate function for innovation and sustainability is responsible for sustainability issues as well as environmental and climate protection in the EVN Group. A central component of these activities is the Group-wide and strategic coordination of sustainability and, in particular, the implementation of the new legal requirements. In preparation for the mandatory application of the CSRD by EVN beginning with the 2024/25 financial year, the following departments nominated staff responsible for the individual ESG standards: innovation and sustainability, human resources, safety and infrastructure, procurement and purchasing, information and communications, customer relations and corporate compliance management. The central management by these corporate functions is intended to ensure compliance with high sustainability standards throughout the EVN Group. It will also support the operational development and implementation of new ESG aspects like the application of the CSRD.

An extensive exchange of information between the innovation und sustainability corporate function and the responsible Executive Board member takes place every four to six weeks within the framework of management meetings and more frequently if required.

The full Executive Board is informed of sustainability programmes and plans at the quarterly meetings of the sustainability steering committee. This committee deals with current ESG issues, approves major ESG activities and, due to its broad composition, ensures that the addressed strategies, measures and goals are rolled out and implemented in operations throughout the Group. The circle of participants also includes other key corporate functions (in particular controlling and investor relations, accounting, finance, legal and public affairs) as well as representatives of key Group companies and departments from Austria and other countries.

The project-related sustainability steering committees, in 2023/24 above all the CSRD readiness steering committee, are responsible for reporting on and the determination of concrete measures. The circle of participants includes, in particular, the full Executive Board, the innovation and sustainability corporate function, and representatives of the other involved corporate functions and Group companies in Austria and other countries.

In addition to continuous exchange with internal experts, the Executive Board and Supervisory Board can draw on several advisory boards in which external experts from various disciplines contribute their expertise and outside perspectives on ESG issues: the Sustainability Advisory Board, the EVN Social Advisory Board and the EVN Art Advisory Board.

EVN's strategic goals result primarily from legal ­regulations, capital market and rating agency requirements, customers' demands, the EVN strategy, the EVN Climate Initiative, the materiality analysis and ­voluntary commitments, e. g. in connection with the Science Based Targets initiative.

The approved measures are implemented through ­projects carried out by the staff in the innovation and sustainability corporate function and employees in ­various departments and companies concerned in ­Austria and other countries. Function and role descriptions as well as guiding principles are issued and/or adapted to anchor ­competence and responsibilities in the organisation ­­(in particular, through the EVN sustainability guideline, the EVN Code of Conduct and the EVN Integrity Clause).

Target achievement is measured according to the target, form and term in line with the above-mentioned formats as well as through internal (in the form of steering committees for each segment) and external quarterly reporting and the annual financial statements. It is based on the defined project goals or also on the annually defined individual non-financial goals set for the Executive Board members and management.

Reporting requirements result chiefly from reporting requirements for specific ­project activities, management meetings and steering committees as well as from the legal requirements for quarterly reporting and the annual financial statements.

The proposals for investment projects that require the approval of the Executive Board and/or Supervisory Board are also required to include a standardised evaluation of the ESG impacts, opportunities and risks. In the 2023/24 financial year, this mainly involved the budget preparation for the EVN Group and planned projects for heat supplies, renewable generation and power plants/power plant locations.

As previously mentioned, both the Executive Board and the Supervisory Board receive regular information and, at the same time, training on sustainability issues. This information transfer and training also takes place as part of a regular series of events entitled "Supervisory Board Special" in which internal and external experts lecture on key topics.

The Supervisory Board plays an important role in ­sustainability reporting. Quarterly and annual reports are presented to the Audit Committee and the full Super­visory Board prior to publication and discussed by the Executive Board and Supervisory Board. The Remuneration Committee is responsible for monitoring the achievement of sustainability targets in connection with remuneration policy, remuneration practices and remuneration-related incentive structures. In addition, the Executive Board provides the Supervisory Board with up-to-date information on ESG issues at every meeting. The content is presented primarily by the Executive Board, if necessary with the support of internal experts. The Supervisory Board is also able to contact internal experts at any time for additional information apart from the scheduled meetings.

In this Sustainability Statement, 'supervisory bodies' refer to the F-Secure Board of Directors and its Audit Committee and Personal and Nomination Committee. 'Management body' is to be understood as the F-Secure Leadership Team including the CEO and the leadership team members. The Board of Directors oversees the administration of the company and appoints the CEO, who oversees the daily administration of the company in accordance with the instructions and orders given by the Board.

The highest decision-making body in F-Secure is the General Meeting of Shareholders, which elects the members of the Board of Directors. The Board of Directors is responsible for the administration of F-Secure Group and appropriate organization of its operations. The duties and responsibilities of the Board of Directors of F-Secure are, inter alia, defined according to the Articles of Association of F-Secure, the Finnish Companies Act and other applicable laws and regulations. As such, the Board oversees F-Secure's business conduct and compliance, and approves the most significant governance-related policies, such as the Anti-Bribery and Corruption Policy.

The Board of Directors appoints the CEO. The CEO, assisted by the Leadership Team, is responsible for managing the company's business and implementing its strategic and operational targets. Both the CEO and the Leadership Team also play a significant role in ensuring that employees comply with the relevant policies and procedures, including those related to business conduct.

To enhance the efficiency of its work, the Board of Directors has established an Audit Committee and a Personnel and Nomination Committee. The Audit Committee functions as a preparatory body, and the matters it addresses are brought to be decided on by the Board of Directors. The Audit Committee monitors and evaluates risk management, internal controls, IT strategy and practices, sustainability, and financial reporting, as well as auditing. The majority of members of the Audit Committee shall be independent of the company and at least one member shall be independent of the company's significant shareholders. Additionally, any substantiated investigations of incidents related to corruption or bribery are reported to the Audit Committee for evaluation. The Personnel and Nomination Committee prepares material and instructs on issues related to the composition and compensation of the Board of Directors and remuneration of the other members of the top management of the company. The Committee prepares proposals for shareholders related to the Board composition and remuneration. The duties of the Personnel and Nomination Committee include actively seeking and identifying new individuals qualified to become members of the Board.

The Board of Directors and the Leadership Team are supported by the Legal Team that maintains the business conduct-related policies and procedures, as well as offers internal training on such issues.

Expertise related to business conduct matters

The Board members have international experience in different roles in global companies operating in different businesses and geographical market areas. Additionally, the company ensures that all members of the Board of Directors have access to sufficient information about F-Secure's business operations, operating environment, and financial position, and that new members are properly introduced to the operations of F-Secure.

Members of the Audit Committee must have broad business knowledge, as well as sufficient expertise and experience concerning the committee's area of responsibility and the mandatory tasks relating to auditing, including risk management related to business conduct issues. The Audit Committee invites experts to its meetings when necessary for the issues to be discussed. External auditors are permanent invitees to the meetings of the Audit Committee.

When seeking and identifying new individuals qualified to become members of the Board, the Personnel and Nomination Committee takes into account the expertise on business conduct matters of such individuals to ensure that all Board members have sufficient experience and knowledge of business conduct matters.

The Leadership Team members are chosen based on their expertise and experience suitable to their respective roles. The Leadership Team members also supervise the implementation of business conduct-related policies and procedures in their respective business functions.

The number of executive and non-executive members

As of 31 December 2024, F-Secure had 9 executive members in its management body and 6 non-executive members in its supervisory body (Board of Directors), while noting that the latter figure used in this statement also includes F-Secure employee Board member.

Representation of employees and other workers

One member of the Board of Directors is elected from among F-Secure personnel. An election is arranged annually for F-Secure personnel and each permanent employee is eligible to stand as a candidate. The representatives of the Board of Directors interview three to four persons who have obtained the highest number of votes in the elections and choose a candidate from amongst them to be proposed for election as a member of the Board by the Annual General Meeting. The term of office of members of the Board of Directors ends at the close of the Annual General Meeting of shareholders following their election.

Experience relevant to the sectors, products and geographic locations of the company

F-Secure's Board members have international experience and diverse backgrounds from international companies in business sectors and geographical markets (including Europe, North America, APAC and Japan) relevant to F-Secure:

• Pertti Ervi is a seasoned international IT-business leader and Board professional with over 30 years of experience. As Co-President of Computer 2000 AG, Europe's largest IT distributor, he managed global operations across 38 countries. Pertti has extensive Board experience with publicly listed companies like F-Secure, Comptel, Teleste and Efecte, and has worked closely with tens of growth companies, providing expertise in strategy, internationalization, and corporate development. He co-founded Mintly Oy and has successfully led numerous high-value exits. A Finnish citizen living in France, Ervi holds a B.Sc. in Electronics and has completed advanced business studies at INSEAD and Hanken.

• Risto Siilasmaa is the founder of F-Secure and WithSecure Corporations and the Chair of the Board of Directors of WithSecure having served as President and CEO of the company in 1988-2006. He is also an active venture capital investor with over 30 active investments via First Fellow Partners, a fund management company where he is both a general partner and the only limited partner. Previously Risto was the Chair of the Board of Directors of Nokia Corporation in 2012-2020 and of Elisa Corporation in 2008-2012. Risto is the Chair of the Board of Upright and a Board member of F-Secure, Futurice, Pixieray, Quanscient, Hamina Wireless and CybExer Technologies. Since 2019 Risto has been a member of the International Advisory Board at IESE Business School, University of Navarra.

• Thomas Jul is a seasoned Danish executive with over 30 years of global leadership in high-tech, telecom, and fintech sectors. With a history of driving growth and transformation, he held prominent roles at Ericsson and Nokia, including President & CEO of Ericsson Indonesia and West Europe Region Head at Nokia. As co-founder of MATTA Group and former CEO of payments scale-up Inpay, Thomas continues to excel in leading innovative organizations. Currently, he serves as Group CEO of Danish IT leader KMD. Thomas holds an M.Sc. in Software Engineering and has completed advanced business programs at Henley, Wharton, Columbia, Harvard, and London Business Schools.

• Petra Teräsaho is a senior finance executive and Board professional with wide international experience from various industries: forest, telecom, mining, IT, automotive/electric batteries & consumer goods. In addition to finance, Petra has held leadership positions in marketing, strategy and business development. Besides Finland, Petra has worked and lived in India, Belgium, France and Sweden. Her current main occupation is CFO of Transmeri Group. Her earlier employers are UPM, Nokia, Outotec, Stora Enso, Enfo Group and Valmet Automotive. Petra is Board member and Audit committee chair in F-Secure and Paulig Group. She is a Finnish citizen and holds a Masters Degree in Accounting & Finance.

• Tommi Uitto has worked in Nokia's network equipment business for thirty years, from 2G/GSM to 5G/NR and early research of 6G. He is currently leading Nokia's Mobile Networks Business Group, the largest of Nokia's four businesses, and is a member of Nokia Group Leadership Team. He also serves in the Board of Directors and Working Committee of the Board of Technology Industries of Finland (TIF). At Nokia, he has held various executive and managerial positions across several functions from business unit management to sales and region management, from product management to product development, and from production planning to quality management. Before Nokia, he worked in forestry equipment manufacturing. Besides Finland, he has lived in France and the United States.

• With extensive experience in quality assurance, software development management, and portfolio governance, Katja Kuusikumpu is a respected leader in the IT industry. As the Director of Portfolio Governance & Operations at F-Secure, she oversees strategic product initiatives and drives the company's portfolio transformation. She is also currently a Member of the Board of Directors at F-Secure, contributing to the company's strategic direction. Previously, Katja has held several R&D leadership roles at F-Secure and in other Finnish and international companies. Katja is a Finnish citizen and holds a Master of Science degree from Aalto University.

Percentage by gender and other aspects of diversity

According to Diversity Principles established by the Board of Directors, an optimal mix of diverse backgrounds, expertise and experience strengthens the Board's performance and promotes the creation of long-term shareholder value.

The Diversity Principles of the Board of Directors strives towards appropriately balanced gender distribution. At the Annual General Meeting in 2024 six members representing two different nationalities were elected to the Board. The age structure of the Board members is 47–67 years. Two Board members are female and four are male, giving a ratio of 2:4 (female/male) and thus females represent 33.3% and males 66.7% of all members of the Board.

Percentage of independent board members

The majority of the 2024 Board members are independent from the company and from its major shareholders. Two Board members are considered not independent on grounds of share ownership or working for the company meaning ~67% are independent.

The role of the administrative, management and supervisory bodies

In 2024, the Executive Board of Frequentis AG comprised the following members:

Norbert Haslacher has been a member of the Executive Board of Frequentis AG since April 2015, originally with responsibility for Sales & Marketing. He was appointed CEO in April 2018.

Responsibilities: Strategy, Global Sales, Strategic Business Units, Corporate Communications & Marketing, Investor Relations, New Business Development & Invest4Tech, New Market Solutions, Partnerships and M&A.

Monika Haselbacher has been a member of the Executive Board of Frequentis AG and Chief Operating Officer (COO) since 1 January 2023.

Responsibilities: Project Management & PMO, Customer Services, Health Safety Environment (HSE) Management, Group Governance, Processes & Efficiency, Quality Management, Safety Management, Group Management.

Peter Skerlan has been Chief Financial Officer (CFO) of Frequentis AG since 16 April 2021.

Responsibilities: Finance, Human Resources, IT, Legal, Facility Management, Environment, Social & Governance (ESG), Internal Audit & Compliance.

Hermann Mattanovich was a member of the Executive Board of Frequentis AG from January 2009 and stepped down from the Executive Board on 30 June 2024 as part of the long-term succession plan.

Karl Wannenmacher was appointed by the Supervisory Board as a member of the Executive Board and successor to Mr. Hermann Mattanovich in his function as Chief Technology (CTO) from 1 July 2024.

Responsibilities: Technology Management, Production & Logistics, Procurement, Product Management, Security.

In 2024, the Supervisory Board of Frequentis AG comprised the following members:

The role of the administrative, management and supervisory bodies

The Executive Board manages FUCHS on the basis of various financial performance indicators. The most important of these key performance indicators (KPIs) is the FUCHS Value Added (FVA). It is characterized by the strategic objective and combines profit with capital employed. In addition, other key performance indicators are regularly reported to the Executive Board and the Supervisory Board.

Supervisory Board Responsibilities

The Supervisory Board held five meetings in the reporting year, all of which were conducted in person. Additionally, two topics were dealt with in writing. During these meetings, the Supervisory Board regularly addressed the business performance of FUCHS and the Group companies. They dealt with the budget and strategic focus as well as numerous governance topics, as well as the 2025 budget, including the investment budget. Additionally, the committee addressed matters related to Executive Board compensation and preparations for the 2025 Annual General Meeting.

The Supervisory Board approved the 2024 Declaration of Compliance with the German Corporate Governance Code and adopted adjustments to its rules of procedure, as well as those of the Executive Board. The amended allocation of responsibilities plan presented by the Executive Board was approved. Based on the recommendations of the Personnel Committee, the Supervisory Board established the sustainability factor for the Executive Board's variable compensation for the financial year 2024. It also decided on the criteria for measuring the sustainability factor for 2025 and the target total compensation for 2025.

There was an update on opportunity and risk management, compliance, and the results and recommendations of the internal audit. The Supervisory Board was informed about the current status of the implementation of the CSRD at FUCHS. It also dealt with the procedure and the assessment of the effects, risks and opportunities in accordance with the CSRD. Additionally, an update was given on the company's sustainability strategy.

Committee Structure

Audit Committee

The Audit Committee held five meetings in the reporting year. Two of the meetings were held via videoconference and three in person. The CFO and heads of the Finance and Controlling as well as Accounting departments regularly attended the meetings. The auditor was present at three meetings for individual agenda items. The committee focused on the annual financial statements and the audit of the annual financial statements of FUCHS SE and the consolidated financial statements together with the Combined Management report, the non-financial declaration, the Compensation Report, the requirements of the CSRD on sustainability reporting and compliance issues.

Other main topics were assessment of the quality of the auditor and a detailed discussion of the quarterly statements and half-year financial report prior to their publication. The Audit Committee, together with the external auditor, determined the key areas of focus for the audit of the reporting year, issued the audit mandate, granted general approval for permissible non-audit services by the auditor, and addressed new accounting and reporting regulations.

Additionally, the Audit Committee reviewed financial reporting, monitored the financial reporting process, and assessed the effectiveness of the internal control system, risk management system, and internal audit function.

Personnel Committee

The Personnel Committee advises the Supervisory Board on personnel matters pertaining to the Executive Board and prepares its decisions. In the reporting year, three meetings were held, all of which were conducted in person. In its meetings, the committee focused particularly on the upcoming changes in the Executive Board in 2025, especially the new appointments and the related resolution recommendations to the full committee. Other topics included the new Executive Board remuneration system, including the corresponding adjustment of Executive Board service contracts, the adjustment of pensions for former Executive Board members, the assessment of variable remuneration for the 2024 financial year, and the target remuneration for 2025.

Nomination Committee

The Nomination Committee advises the Supervisory Board on suitable candidates and nominates such candidates for the Board's proposals to the Annual General Meeting for the election of Supervisory Board members. The Nomination Committee convened once in person during the 2024 financial year and issued its recommendation for the election of shareholder representatives at the 2025 Annual General Meeting.

Supervisory Board Composition

As a financial expert, Ingeborg Neumann has expertise in accounting and auditing within the meaning of Section 100(5) of the German Stock Corporation Act (AktG) and of Recommendation D.3 p. 1 of the Corporate Governance Code. As Chairwoman of the Audit Committee, she thus also meets the requirements of Recommendation D.3 on p. 2 of the Code. Dr. Markus Steilemann is also a financial expert with expertise in the field of accounting within the meaning of Section 100(5) of the German Stock Corporation Act (AktG) and of Recommendation D.3 p. 1 of the Code.

Mr. Jens Lehfeldt and Ms. Cornelia Stahlschmidt are the employee representatives on the Supervisory Board.

The role of administrative, management and supervisory bodies

The Risk Committee, the Audit Committee and the Organisation and Remuneration Committee consist of members of the Board. The Chair of the Board has broad expertise of sustainable development from several sectors, and has completed several courses and certifications in sustainability. Several members of the board have completed Gjensidige's sustainability course in 2022 and 2023. Many of the board members have also completed other courses and have experience of sustainability work through directorships in other companies. We believe that the board has sufficient sustainability competencies.

Board Structure and Responsibilities

THE NOMINATION COMMITTEE: Responsible for ensuring that the board has the necessary expertise and experience

THE BOARD: Adopts sustainability goals and strategy (management responsibility), and follows up the status of measures and their effect (supervisory responsibility), and is responsible for everything that is dealt with in the subcommittees.

THE AUDIT COMMITTEE: Reviews quarterly sustainability report, internal control over non-financial reporting, sets materiality threshold and reviews the double materiality analysis. The committee determines the process for processing the annual report, including the sustainability report, and pre-processes the report for decision by the board.

THE RISK COMMITTEE: Reviews proposals for sustainability targets, discusses identified influences, risks and opportunities, and ensures that risk appetite includes sustainability topics and risk exposure.

THE ORGANISATION AND REMUNERATION COMMITTEE: Prepares the scorecard for the CEO, where the operationalization of several sustainability topics occurs and is measured. The Committee shall provide advice on matters relating to remuneration, and annually discuss with the CEO principles and specific frameworks for determining the remuneration of other senior executives.

CEO: Responsible for delivering on the goals set by the board, and setting sustainability goals downwards in the organization through the scorecards of the executive vice presidents

EVPS AND MANAGING DIRECTORS OF SUBSIDIARIES: Executive vice presidents and executives of subsidiaries implements sub-goals and action plans to deliver on the sustainability goals.

Board Composition

Gjensidige's Board has ten members, of whom seven are elected by the shareholders and three are elected by and from among the company's employees. The shareholder-elected board members are elected for one year at a time by the General Meeting, on the recommendation of the Nomination Committee. The composition of the Board is in accordance with the requirements set out in the Articles of Association with regard to competence, gender, age and geographical affiliation. The employee representatives are elected for two years at a time.

The members of the Board have expertise in finance, insurance, law, technology, digital business, innovation, international business, the public sector and management. They have held senior positions in companies operating in all the countries in which Gjensidige operates. They also have varied expertise in sustainability, and most have completed Gjensidige's sustainability seminar.

Throughout 2024 the board has been presented quarterly sustainability reports with a focus on stats for goal attainment, effects and new measures. The board has broad sustainability experience, and has completed courses and certifications. We have prepared a double materiality assessment that has been discussed by the sub committees of the board throughout the year.

Board of Directors and Executive Leadership Team

Corporate Governance Structure

GN's corporate governance structure ensures effective oversight of sustainability matters:

Board of Directors: The Board of Directors oversees risk management across the value chain and ensures risks are managed effectively. Risk governance at GN is overseen by the Board of Directors, who ensure risks are managed across the value chain.

Executive Leadership Team: The Executive Leadership Team collectively challenges, validates, and prioritizes risks and risk handling activities. Risks are identified and governed by a risk department and the Executive Leadership Team for each division and selected functions.

Risk Management and Sustainability Governance

The Board of Directors annually reviews and approves a comprehensive risk report that has been reviewed and prioritized by the Executive Leadership Team. The Board conducts an annual Top Risk Review in December, where the Board of Directors' risk review takes place.

Sustainability Integration

Sustainability has become increasingly integrated into GN's business strategy over the past years. GN's approach to sustainability is driven by a desire to create real and lasting value for all stakeholders. GN has not set up a separate sustainability governance structure but uses existing business processes to drive the sustainability agenda.

Sustainability is integrated into how GN runs the company, as a consideration in key decisions on how they design products and run operations.

The role of the administrative, management and supervisory bodies

Board of Directors Structure and Responsibilities

The Company is governed by the Board of Directors (BoD), a body which is collectively responsible for its long-term success. The Board of Directors exercises its responsibilities in accordance with Greek legislation, international best practices, the Company's Articles of Association and any decisions reached by the General Meeting of the Company's shareholders.

The BoD comprises eleven (11) members who are elected in accordance with the provisions of Article 20 of the Company's Articles of Association. The present BoD was elected by the Annual General Meeting of 27th June 2024.

BoD Composition (27.06-31.12.2024)

Key Responsibilities of the BoD

1. Decides on any act concerning the Company's representation, governance, its assets' management and the pursuit of its purpose, in general;

2. Manages the corporate affairs with the object of promoting the company interest; oversees the implementation of its decisions, as well as of those of the G.M.;

3. Determines and supervises the corporate governance system of articles 1 to 24 of L.4706/2020, and monitors and periodically assesses, at least every three (3) financial years, its implementation and effectiveness, proceeding to the necessary actions for dealing with deficiencies;

4. Ensures the adequate and effective operation of the Company's Internal Audit System ("IAS");

5. Ensures that all operations comprising the ICS are independent of the business segments they control and that they have the appropriate financial and human resources, as well as the powers for their effective operation, as prescribed by their role. The reporting lines and allocation of responsibilities are clear, executable and duly documented;

6. Makes sure that the Company's annual financial statements, the annual management report and the corporate governance statement, their consolidated form, as well as the BoD members' remuneration report, are drafted and made public in accordance with the provisions of the law;

7. Recommends to the G.M. the appointment of a certified auditor accountant or audit firm;

8. Ensures that the Company's strategic planning is aligned to corporate culture;

9. Approves the strategic and the annual business and financial plan;

10. Determines the extent of the Company's exposure to risks it intends to assume;

11. Ensures that an effective regulatory compliance procedure is in place;

12. Sets or/and delimits the responsibilities of the Chief Executive Officer and of the other persons to whom it is entitled to delegate powers of the Company's management and representation, in accordance with the Company's Articles of Association;

13. Posts and keeps updated the information regarding the election of its candidate members;

14. Is updated and decides on any other development affecting the Company's status and operation.

Roles of Key Positions

BoD Chairman: The BoD Chairman, who is a non-executive member, is responsible for convening, chairing and steering the meetings, for the keeping of minutes, the signing of the relevant resolutions and for the BoD's operation, in general, as this is provided in the Company's Articles of Association and the law.

Chief Executive Officer: The Chief Executive Officer serves as the principal governing authority and legal representative of the Company, bearing responsibility for all business segments and operational activities. The Group Internal Audit General Division reports administratively to the Chief Executive Officer.

Senior Independent Director: Mr. Iordanis Aivazis was appointed as the Senior Independent Director with the following responsibilities: i. supports the Chairman of the BoD, ii. coordinates the effective communication between the Chairman and the BoD members, iii. chairs the meetings of the non-executive members of the BoD and the procedure concerning the evaluation of the Chairman by the BoD members.

BoD Committees

The BoD has established committees, comprised of members thereof, with advisory, supervisory or/and approving authorities:

I. Audit Committee

• Comprised of independent non-executive members
• Supports the BoD in oversight of financial statements, internal controls, risk management, compliance, and auditing procedures

II. Strategy and Risk Management Committee

III. Sustainability Committee

Executive Management

Board of Directors

The Board of Directors is composed of eight non-executive members, of whom 50% are independent. Three members are female, leading to an average ratio of female-to-male board members of 38%. The members have diverse educational backgrounds, including business administration, engineering, finance, law, marketing and psychology. They also represent a range of nationalities, including Belgian, German, Liechtensteinian, Norwegian and Swiss. Employees and other workers do not have a dedicated representative on the Board of Directors.

Executive Board

The Executive Board is composed of six members, all of whom are male. The members have diverse educational backgrounds, including business administration, engineering and economics. They represent diverse nationalities: Austrian, German, Indian/Swiss, Israeli/United States of America, Spanish and Swiss.

Activities and composition in 2024

In 2024, the Board of Directors and/or the Executive Board discussed the following material IRO clusters: decarbonization, sustainable energy consumption, circular operations and circular solutions, well-being of team members, safety of team members, contribution of team members and anti-corruption and anti-bribery. Further discussions conducted by the Board of Directors and the Executive Board focused on the upcoming sustainability reporting obligation and the approval of the double materiality assessment. In these meetings, sustainability-related trade-offs are generally taken into account when making strategic decisions. However, there are currently no specific guidelines to systematically address such trade-offs within the decision-making process.

The Supervisory Board is responsible for overseeing the Managing Board and consists of twelve members. In fiscal year 2024, the Supervisory Board met five times, with meetings focused on current business performance, risk assessment, strategy execution, capital structure, compliance issues, and Corporate Governance Code requirements.

Committees and their work:

Audit Committee (met 4 times): Addressed financial reporting, risk management and internal control system, IT security matters, compliance matters, CSRD requirements for non-financial reporting, auditor independence, and non-audit services approval.

Personnel Committee (met 4 times): Focused on succession planning, filling management positions, Managing Board compensation system, target achievement assessment, and reappointment of Managing Board members.

Working Committee (met 2 times): Dealt with business performance, strategic alignment, lease extensions, Digital TWIN project progress, sport-sponsoring activities, and strategic partnership with David Beckham.

Nomination Committee (met 4 times): Prepared for upcoming Supervisory Board election scheduled for 2025.

Mediation Committee: Did not convene during fiscal year 2024.

The Supervisory Board conducted an annual efficiency review using external evaluation of questionnaires. No conflicts of interest relating to Managing Board or Supervisory Board members arose in fiscal year 2024.

KONE's governance model for sustainability and corporate responsibility within the organization is designed to ensure that sustainability is embedded into all levels of decision-making, from strategic oversight to operational execution. The key governance bodies for sustainability at KONE include the Board of Directors, the President and CEO and the Executive Board, Sustainability Disclosure Board, Safety, Quality and Sustainability Board, and Global Sustainability Forum.

The Board of Directors holds the overall responsibility for overseeing the company's sustainability strategy. The Board regularly reviews sustainability performance, addresses potential risks, impacts and opportunities, and ensures that the company complies with all relevant regulations and standards. The Board members' strong conviction in the strategic importance of sustainability for KONE's business places significant weight on it in KONE's overall strategy. The board is well-versed in key sustainability matters relevant to the industry and products, such as carbon neutrality. The Board of Directors consists of non-executive members with a gender ratio of 67% male and 33% female. The Vice Chair of the Board, Jussi Herlin has a separate employment contract for his role as Executive Vice Chair of the Board at KONE. There are no other separate employment contracts for the members of the Board of Directors. Of the Board members, 78% are independent of the Corporation and 67% are independent from significant shareholders.

The President and CEO is responsible for integrating the sustainability strategy approved by the Board of Directors into the company's daily operations. The Executive Board implements the sustainability strategy across all business units. Each executive member is responsible for embedding sustainability within their respective areas, ensuring that initiatives are effectively executed and aligned with the company's overall objectives.

Specific sustainability-related executive boards have been established to focus on critical areas such as environment, safety, quality, global compliance and sustainability governance. Various sustainability related forums act as platforms that bring together representatives from various areas, business lines and global funcions to share best practices, discuss challenges, and align on global sustainability priorities.

The Board members are experienced in addressing sustainability-related impacts, risks, and opportunities, for instance related to carbon neutrality and health and safety topics, within the company's industry, products and operating environment. The Board's annual review cycle and governance structure are established to ensure continuous monitoring of progress towards sustainability targets, associated risks and opportunities as well as development of relevant skills. These reviews are conducted by KONE's or external subject matter experts.

In the Corporate Governance Statement, the Executive Board and Supervisory Board report on the company's corporate governance. The responsibilities of the Krones Group Executive Board and Supervisory Board are governed by rules of procedure. The Executive Board consists of five executive members, 20% of whom are women, while the Supervisory Board consists of 16 non-executive members, 37.5% of whom are women. An overview of the composition and competencies of the Supervisory Board is disclosed in the profile of skills and expertise. As a result of regular reporting by Corporate Sustainability, all members of our Executive Board have knowledge of sustainability issues.

Percentage of independent board members in the administrative, management and supervisory bodies:

• Total percentage on the shareholders side who are independent: 62.5%
• Percentage on the shareholders side who are independent of the Executive Board and the company: 87.5%
• Percentage on the shareholders side who are independent of controlling shareholders: 75%

Clear roles and responsibilities are defined for the monitoring of IRO management. The Executive Board sets the targets and monitors sustainability performance, whereas responsibility for carrying out the materiality assessment and IRO management is delegated to Corporate Sustainability. Sustainability priorities are an integral part of Executive Board decision-making. The Executive Board is provided with quarterly updates on progress towards the sustainability targets. The Supervisory Board monitors implementation of the sustainable corporate strategy and compliance with regulatory requirements.

The members of the Executive Board each have the sustainability expertise and experience necessary for their areas of responsibility. All members of the Supervisory Board have the necessary skills to fulfil their advisory and supervisory role for sustainability topics and the impact of these topics on the strategy and business model. The Executive Board and Supervisory Board are able to assess industry-specific and entity-specific IROs on the basis of their many years of industry experience, subject-matter expertise and understanding of Krones' specific challenges and circumstances.

The risk governance model is in line with national and international standards and best practices and is compliant with the Corporate Governance Code for Listed Companies, the Organisational, Management and Control Model and the Group's Anti-Corruption Code. It has three levels, provides for clear-cut roles and responsibilities for the various departments and ensures a suitable exchange of information flows, to guarantee effectiveness.

The operating risk management, which involves the entire organisation, is based on the identification, assessment and monitoring of the enterprise and project risks and the related mitigation plans. It is supported by specific methodologies, instruments and metrics for the related analysis and management. The processes underlying Project Risk Management and Enterprise Risk Management (ERM), which are in turn integrated into the company business and support processes, are regularly improved, with the aim of innovating and spreading an effective risk-based organisational culture. Risk management processes support, in fact, the risk owners, along the entire corporate value chain, in identifying and managing risks and opportunities, including those linked to ESG factors. In particular, the ERM methodology fosters the identification and management of the cause-effect link between ESG factors and the potential impact on the Company (strategic, operational, financial, compliance and reputational) and supports the preparation of the Industrial Plan, which also includes the strategic vision and sustainability initiatives.

The company's administrative, management, and supervisory bodies are the Board of Directors, the Audit Committee, and the Executive Leader Team. The Compliance Department and the Iberian Audit Department (both part of ADEO Holding Iberia, SA, the parent company of LEROY MERLIN Spain), as well as the Internal Control and Human Resources Departments, the Ethics Committee, and the Internal Control Body, are responsible for monitoring impacts on their areas of responsibility and for detecting and assessing the company's risks.

The Audit Committee is composed, as of December 31, 2024, of Pablo Óscar Adán Castro, Olivier Debeunne and Yann Jöel Christian Dubourthoumieu, the latter acting as its Chairman, for the statutory term of four years ending on December 31, 2027. Juan Maggio and Paula Ordoñez act as Secretary and Deputy Secretary, respectively, of this body.

There is no direct employee representation within the Board of Directors or the Audit Committee. The Executive Leader Team is made up of the leaders of each area (executive directors), who thus represent the employees in their respective areas.

The Ethics Committee, managed by the Compliance Department, oversees business conduct. The Director of Ethics and Compliance chairs the Committee. A compliance function report, issued by the Ethics Committee, is shared annually with the Board of Directors, summarizing all actions related to the company's compliance programs.

Composition and Diversity

Diversity

Diversity

In line with their track records, the members of the Board of Directors and Executive Leader Team have experience in business conduct issues, as well as extensive experience in the retail sector. The assessment of the knowledge or suitability of the Commission members' profiles is carried out within the Board. Their professional positions imply that they have knowledge of auditing and sustainability.

Throughout 2024, two specific sustainability training sessions were held for the Executive Leader Team: a specific in-person module on sustainability in the Power Leader Lap program and Climate Mural, in-person training focused on climate change and its effects.

Board of Directors

Governance structures and composition

Lundbeck is governed by a two-tier governance structure consisting of the Board of Directors and the Executive Management. The two-tier structure ensures a clear separation of strategic oversight and operational management.

Board of Directors composition and responsibilities:

• The Board consists of 6 shareholder-elected members and 2 employee-elected representatives
• Independence: 5 out of 6 shareholder-elected Board members are independent
• Diversity: The Board has achieved 37.5% female representation among all members
• The Board oversees strategic direction, risk management, and sustainability matters
• Board members bring expertise across pharmaceuticals, finance, sustainability, digital transformation, and international business

Key sustainability governance responsibilities:

• The Board oversees ESG strategy implementation and sustainability reporting
• Reviews and approves sustainability targets and climate commitments
• Monitors progress on material sustainability impacts, risks and opportunities
• Ensures integration of sustainability considerations into business strategy and decision-making

Board committees:

• Audit Committee: Oversees financial reporting, internal controls, and risk management including sustainability-related risks
• Remuneration Committee: Determines executive compensation and integration of sustainability metrics in incentive schemes
• Nomination Committee: Responsible for Board composition, succession planning, and ensuring appropriate competencies including sustainability expertise

Executive Management:

• Led by President and CEO with responsibility for day-to-day operations
• Executive Management team includes roles with specific sustainability responsibilities
• Regular reporting to Board on sustainability performance and material matters

The Board of Directors and group management are responsible for MTG's strategic direction and ensuring that the business is conducted in a sustainable manner. The Board of Directors has overall responsibility for the organization and management of MTG's business and is responsible for ensuring that MTG's organization is structured in such a way that accounting, asset management and MTG's financial affairs are controlled in a satisfactory manner.

The Board consists of seven members elected by the Annual General Meeting, with no deputies. All Board members, with the exception of the CEO, are independent of the company and senior management. The Chairman of the Board, Natalie Tydeman, and Board member Dawn Airey are independent of major shareholders, while the other Board members are not independent of major shareholders.

The Board has established an Audit Committee and a Remuneration Committee. The Audit Committee consists of three members: Gerard Griffin (Chairman), Natalie Tydeman and Simon Duffy. The Remuneration Committee consists of three members: Dawn Airey (Chairman), Natalie Tydeman and Bert Klanderman.

Information about the role of administrative, management and supervisory bodies can be found in the Corporate Governance Statement on pages 64-78. Board committees and their roles are described, including the Audit Committee, People & Remuneration Committee, and Project Committee. The Board of Directors is responsible for the company's strategic direction and overseeing management. In October 2024, the company restructured its organization and appointed a new leadership team to expedite decision-making to navigate the complexities of the current business environment.

The role of the administrative, management and supervisory bodies

Board of Directors and Group Management

The work with Sustainability in NNIT is anchored in the NNIT Board of Directors and the NNIT Management Group. The sustainability policy, which applies to NNIT's management and employees globally, is approved by the Board of Directors.

ESG and sustainability priorities are embedded in the Board of Directors' decision-making processes. The Board receives annual updates on our sustainability progress and a comprehensive report on the year's achievements, and the board is responsible for utilizing the result of the double materiality assessment to guide the process of setting targets in relation to material impacts, risks and opportunities where relevant. Targets set are tracked using appropriate indicators, both qualitative and quantitative. Environmental targets are managed through our ISO14001 EMS certification, which is anchored in our ISO9001 QMS certification.

Our Board of Directors possesses the competences related to sustainability as below:

• Relevant knowledge and experience in respect of social, environmental, political, regulatory and business matters in the geographic markets in which NNIT's business activities are conducted. • Relevant knowledge and experience within Environmental, Social and Governance (ESG)

• Environmental: Climate change, climate adaptation, energy, resource use and circular economy
• Social: Own workforce, workers in the value chain, Diversity
• Governance: Corporate culture and business conduct.

The Board of Directors undergoes an annual evaluation, which is further disclosed in the Corporate Governance section on page 20-23, where the performance, success and competencies of the Board are evaluated. The composition of the Board ensures that the needed competencies are available to effectively oversee sustainability matters and initiatives.

The Group Management team is responsible for ensuring the implementation of the ESG strategy and overseeing targets, and the annual review process of the DMA is anchored through group management in our CFO office.

Number of executive and non-executive members and percentage by gender

The Novabase Board of Directors includes a total of 9 directors, of which seven are non-executive members. For the 2024-2026 term, 33.3% the company's directors are female, thus meeting the minimum stipulated by Portuguese Law no. 62/2017 of 1 August, including one female member with special responsibilities pursuant to No. 1 of Article 407 of the Companies Code. The breakdown of executive and non-executive members of the Board of Directors and respective diversity and independence is provided in greater detail in point 18 of the Corporate Governance Report.

Representation of salaried and other employees

Novabase Group has no representation of salaried or other employees in its governing bodies.

Identity and responsibilities of administrative bodies

The members of the Novabase administrative body have a variety of skills, academic qualifications and professional backgrounds, with varying degrees of relevance to the main areas of Novabase business. For more information regarding the identity and responsibilities of each administrative body please see points 19 and 26 of the Corporate Governance Report.

Experience relevant to the sectors, products and geographical locations of the company

The professional qualifications and other relevant information for each member are listed in the Corporate Governance Report, in points 19 (Board of Directors Members), 33 (Audit Committee Members) and 68 (Remuneration Committee Members).

Description of the role of management in governance processes, controls and procedures used in follow-up, management and auditing

Pursuant to Article 14 of the Novabase Articles of Association, the Board of Directors is responsible for managing the company's business and it has exclusive and full powers of representation.

The Board of Directors is generally responsible for exercising the broadest of powers in pursuing the company's interests and business within the limits of the law, its articles of association and the decisions of the General Meeting.

For more information regarding the role of the Board of Directors in the governance processes please see point 21 of the Corporate Governance Report.

Governance structure

Our primary governance bodies are the Annual General Meeting of shareholders (AGM), our Board of Directors, and the Executive Committee of Novartis (ECN). Each has different roles and responsibilities within our overall governance system:

At the AGM, shareholders approve dividend payments, maximum aggregate compensation for members of the Board and ECN, as well as financial statements, the nonfinancial report and other disclosures. They also elect the Board Chair, members of the Board of Directors, members of the Board's Compensation Committee, the Independent Proxy, and the external auditor.

Our Board of Directors has ultimate decision-making authority (for those decisions not reserved for shareholders). The Board operates through five permanent committees: Audit and Compliance (ACC); Compensation; Governance, Sustainability and Nomination (GSNC); Risk (RC); and Science & Technology (STC). The Board represents the interests of all stakeholders and oversees the work of the ECN.

Led by our CEO, the ECN is responsible for operational management, including financial performance, as well as fulfillment of the company's purpose, strategic priorities and targets. The ECN has 11 members, including the CEO and Chief Financial Officer, the leaders of our organizational units — Biomedical Research, Development, Operations, US and International — as well as those of other functions.

Composition of the Board

All Board members are independent and nonexecutive (as defined under the Board regulations). Members are elected at the AGM for one year only; they may serve a maximum of 12 years.

When choosing new members to propose to the AGM, the Board aims for a balance of skills, expertise and experience. Twelve of 13 current Board members have experience in leadership and management. In addition, seven have experience in medicine, healthcare or R&D, and four in environmental, social and governance (ESG) topics. The Board considers gender, age, nationality, ethnicity, viewpoints, professional background and expertise in its selection process.

ESG governance

Board: Ultimate responsibility for our ESG strategy lies with the Board of Directors. The Board has delegated certain duties and responsibilities related to ESG to some of its committees.

The primary responsibility for the oversight of the ESG strategy and governance is held by the Governance, Sustainability and Nomination Committee (GSNC). The GSNC oversees the company's strategy, governance and progress on sustainability, including access to products and services, environmental sustainability (including matters related to climate and nature), people management, and other ESG matters.

The Audit and Compliance Committee is responsible for internal controls over financial and nonfinancial information, and reviews all performance indicators included in this report. The Risk Committee oversees the company's risk management, including risks related to ESG.

The Science & Technology Committee is responsible for the oversight and evaluation of the company's scientific, technological and R&D activities, which are relevant to our material topic of innovation.

Management: The ECN is responsible for operational management of ESG matters. The ECN-level ESG Committee, chaired by the CEO, meets every two months to review the company's ESG performance and strategy.

Governance structure

The shareholders of Novo Nordisk exercise their rights at the Annual General Meeting, which is the supreme governing body of the company. The general meeting, inter alia, adopts the company's Articles of Association, approves the Annual Report and elects the Board of Directors.

Any shareholder has the right to raise questions at general meetings. Resolutions can generally be passed by a simple majority. However, resolutions to amend the Articles of Association require two-thirds of the votes cast and capital represented, unless other adoption requirements are imposed by the Danish Companies Act.

Novo Nordisk has a two-tier management structure consisting of the Board of Directors and Executive Management. The governance structure and rules of Novo Nordisk are further described in our Articles of Association and our Corporate Governance Report, both available at: www.novonordisk.com/about/corporate-governance.html.

Foundation ownership

Novo Holdings A/S, a Danish company wholly owned by the Novo Nordisk Foundation, holds the majority of votes at Novo Nordisk A/S' general meetings. The combination of foundation ownership and stock listing enables Novo Nordisk to embark on long-term sustainable strategies while maintaining short-term transparency on performance. Our foundation ownership supports the overarching imperative to be both commercially successful and responsive to the wider needs of society.

The Novo Nordisk Foundation has two objectives: to provide a stable basis for the commercial and research activities of Novo Nordisk, Novonesis and additional companies in Novo Holdings' investment portfolio; and to support scientific, humanitarian and social causes.

Corporate governance reporting

Novo Nordisk reports in accordance with the Danish Corporate Governance Recommendations, which are implemented by Nasdaq Copenhagen in the Nordic Main Market Rulebook for Issuer of Shares, as well as the Corporate Governance Standards of the New York Stock Exchange applicable to foreign private issuers.

Novo Nordisk complies with the Danish Corporate Governance Recommendations as we account for which recommendations we comply with or deviate from and explain our chosen approach. You can find further information about our corporate governance practices and statement on our approach to each of the Danish Corporate Governance Recommendations as well as the Corporate Governance Standards of the New York Stock Exchange in our Corporate Governance Report, available at: www.novonordisk.com/about/corporate-governance.html.

The Supervisory Board carried out its activities during the financial year with great care and in accordance with the law, the Company's Articles of Association, and the Internal Rules. It oversaw the Executive Board's management of the Company and advised it in decision-making processes on the basis of detailed verbal and written reports, as well as constructive discussions between the Supervisory Board and the Executive Board. Six regular and two extraordinary meetings of the Supervisory Board and 31 committee meetings were held in 2024.

The Presidential and Nomination Committee was mainly occupied with the preparation of the decision on the extension of the CFO's Executive Board mandate.

The Remuneration Committee dealt with matters such as the target achievements of the expired incentive plans and setting targets in the new plans.

The Audit Committee looked at important topics related to the accounting process, the internal audit program, risk management, and the Group's internal control system.

The Portfolio and Project Committee used its meetings in 2024 to prepare decisions regarding key investment and M&A projects on the basis of extensive information and intensive discussions.

The Sustainability and Transformation Committee met four times in its third year since being established. Its tasks include overseeing the strategy in terms of sustainability, ESG standards, performance, and processes, including HSSE and climate action in particular.

See pages 44-52 for complete governance framework, Board of Directors composition and responsibilities, and Group Executive Team structure. The governance framework includes clear roles for the Board of Directors in oversight of sustainability matters and risk management.

The shareholders exercise their rights at the Annual General Meeting, which is the supreme governing body of the company. During the Annual General Meeting, among other duties, the shareholders elect the members of the Board of Directors (the Board), approve the Annual Report and adopt any proposed changes to the company's Articles of Association.

Pandora has a two-tier management structure composed of the Board and Executive Management. The Board outlines the overall vision, strategy and objectives of Pandora's business activities, supervises the performance of Executive Management and is responsible for overseeing the execution of Pandora's sustainability strategy, performance and targets. In addition, the Board is responsible for adopting the sustainability-related policies. This includes reviewing sustainability reporting and overseeing performance related to Pandora's strategic sustainability priorities and targets. Members of Executive Management are appointed by the Board. Executive Management is responsible for the day-to-day management and for the execution of Pandora's strategy.

Furthermore, Pandora has an Executive Leadership Team (the ELT), comprised of one woman and seven men, representing seven different nationalities. The team members are responsible for the day-to-day operations of their respective business areas and serve as a part of Pandora's overall leadership. Selected ELT members are also part of Pandora's Sustainability Board.

BOARD OF DIRECTORS

Composition The Board is comprised of seven members, all elected at the Annual General Meeting for a one-year term. Currently, the Board consists of four women and three men, representing five different nationalities. In accordance with section 139c of the Danish Companies Act, this is considered equal gender representation on the Board.

In accordance with the Danish Recommendations on Corporate Governance, 86% of the Board members are regarded as independent. Christian Frigast, due to his more than 12-year tenure on the Board, no longer maintains independence status. The composition of the Board is intended to ensure relevant and complementary competencies and diversity. This approach is instrumental in supporting Pandora's strategic goals and vision, while ensuring well-considered, diverse and judicious decision-making.

Board evaluation Each year, the Board conducts a board review focusing on its effectiveness and skills. The ideal mix of skills and experience required of Board members includes:

• Board experience • Retail • Executive management • Digitalisation • Sectoral experience • Sustainability • Marketing and brand • Finance • Governance

An external assessment of the Board's skills and effectiveness is conducted every three years to ensure objectivity and benchmarking. In 2024, the board effectiveness review was conducted with the support of an external provider to ensure objectivity and benchmarking. The results identified that the Board continues to be well-established and well-functioning, supported by a strong belief in the strategy and effectiveness in collaboration with the committees and Executive Management.

Qt Group Plc's Board of Directors is responsible for preparing the company's short-term and long-term strategies, taking into account the expectations of different stakeholders. The operational management, i.e. the CEO and the other members of the Management Team, is responsible for the company's business operations and governance in accordance with the instructions issued by the Board of Directors and the provisions of the Finnish Limited Liability Companies Act.

The members of Qt's Board of Directors and Management Team have extensive international experience in various management and business-related roles. Qt has not separately defined the special competence or expertise of the administrative, management and supervisory bodies with regard to the supervision of different sustainability matters. Qt has used external ESG experts as part of the double materiality assessment and sustainability reporting process. The Management Team has participated in the assessment of the material themes, and the Audit Committee of the Board of Directors has discussed the progress of the CSRD project in its meetings and the Board of Directors has approved this sustainability statement. More information on the background and expertise of the members of the Management Team and the Board of Directors is provided in Qt's Corporate Governance Statement.

Gender Distribution at Top Management Level:

Gender Distribution at Top Management Level (%):

*The gender distribution (number of women in relation to the number of men) of the Board of Directors is 0.5.

The Board of Directors had two (2) committees in the financial year 2024: the Compensation and Nomination Committee and the Audit Committee. The Audit Committee of the Board of Directors is responsible for the oversight of tasks related to Qt's sustainability reporting, including the oversight of sustainability impacts, risks, and opportunities. Responsibilities or processes related to the monitoring and oversight of the progress of impacts, risks and opportunities have not otherwise been separately specified in the company's terms of reference or Board mandates. Dedicated procedures are not used for oversight for the time being.

The oversight and monitoring process will be developed as part of risk management, among other things, starting from 2025. The management of impacts, risks and opportunities is reported as part of this sustainability statement, which is approved by the Audit Committee and the Board of Directors. The Management Team has operational responsibility for the development of HR, data protection and corporate culture, but no regular monitoring has been specified for their progress thus far.

There is no representation of employees in the administrative and supervisory bodies, but all members of the Management Team are employed by the company. All (100%) of the members of the Board of Directors are independent of Qt. Chair of the Board Robert Ingman is independent of Qt, but not independent of its major shareholders.

Randstad's governance structure is built around its core values established in the company's early days: to know, to serve, to trust, striving for perfection, and the simultaneous promotion of all interests. These values represent the foundation of our culture and guide every decision we make and every action we take.

The company operates under a two-tier board structure with an Executive Board and Supervisory Board. The Executive Board is responsible for the management of the company and the realization of its objectives. The Supervisory Board supervises the policies of the Executive Board and the general affairs of the company and its affiliated enterprises.

Our strong foundation consists of our core values and five strategic imperatives. Our five strategic pillars under the Partner for Talent strategy are: growth through specialization, talent and equity at the heart, delivery excellence, randstad talent platform, and best team in the industry.

Randstad's governance framework ensures that long-term value creation is at the core of the company, as established by founder Frits Goldschmeding. This commitment to long-term and sustainable value creation is embedded in Randstad's core values and continues to form the foundation of Randstad's strong, people-focused culture.

Repsol's corporate governance system guides the structure, organization and operation of its corporate bodies in the best interests of the company and its shareholders. It is based on the principles of transparency, independence and accountability and is fully compliant with current national and international standards.

The governance structure adequately differentiates governance and management functions from oversight, control, and strategic definition functions.

Board of Directors Composition:

Chairman: Antonio Brufau Niubó (Non-Executive Director) Chief Executive Officer: Josu Jon Imaz (Executive Director) Independent Lead Director: Mariano Marzo Carpio

Independent Directors (73.3%):

• J. Robinson West
• María del Pino Velázquez Medina
• Isabel Torremocha Ferrezuelo
• Ignacio Martín San Vicente
• Iván Martén Uliarte
• Aurora Catá Sala
• Arantza Estefanía Larrañaga
• Carmina Ganyet i Cirera
• Teresa García-Milá Lloveras
• Manuel Manrique Cecilia

Other Non-Executive Directors (20%):

• Henri Philippe Reichstul
• Emiliano López Achurra

Executive Directors (6.7%):

• Josu Jon Imaz (CEO)

Board Committees:

• Audit and Control Committee
• Remuneration Committee
• Executive Committee
• Sustainability Committee
• Nomination Committee

There are no controlling or significant shareholders represented on the Board.

Supervisory Board

The Supervisory Board carefully and continuously monitored and accompanied the work of the Executive Board in fiscal 2024. This was done in accordance with the statutory provisions, the articles of association and the rules of procedure on the basis of differentiated reports of the Executive Board and other executive officers of the company, which were made in written and oral form.

The Supervisory Board received the documents for the preparation of our meetings in a timely manner and thus always had sufficient space to critically acknowledge the reports, presentations and proposed resolutions in the plenary and in the committees, to specifically question them and to check their plausibility.

The cooperation between the Supervisory Board and the Executive Board was characterised by trust, openness and constructive dialogue. The Supervisory Board has been involved in all decisions of decisive importance for the Rheinmetall Group immediately and early.

The following overview shows the composition of the Supervisory Board and its committees as of the balance sheet date:

Executive Board

In fiscal 2024, the Executive Board consisted of three members: Armin Papperger, as Chairman of the Executive Board of Rheinmetall AG, as well as the Executive Board members Dagmar Steinert (CFO) and Peter S. Krause (HR) and Dr Ursula Biernert-Kloß, to whom Peter Sebastian Krause's official duties were fully transferred on 1 October 2024.

The transformation of the Executive Board of Rheinmetall AG consists of various individual measures that became effective from 1 January 2025. Armin Papperger, who has been the CEO of Rheinmetall since 1 January 2013, was appointed Chairman of the Executive Board for an additional five years from 1 January 2025.

Committee Structure

The Supervisory Board prepares its work on five committees:

• Nomination Committee
• Human Resources and Compensation Committee
• Audit Committee
• Strategy, Technology and ESG Committee
• Mediation Committee

These committees have the primary task of pre-structuring complex and time-intensive topics for the meetings of the plenary and to review proposed resolutions submitted by the Executive Board in advance.

Board of Directors

Roche Board of Directors on 31 December 2024:

• Dr Severin Schwan (1967), Chairman, D*, E
• André Hoffmann (1958), Vice-Chairman, representative of the shareholder group with pooled voting rights, A*, C, D, E, G
• Dr Jörg Duschmalé (1984), representative of the shareholder group with pooled voting rights, B, C*, E, G
• Dr Patrick Frost (1968), B*, E, G
• Anita Hauser (1969), C, D, E, G
• Prof. Dr Akiko Iwasaki (1970), A, E, G
• Prof. Dr Richard P. Lifton (1953), C, E, G
• Dr Jemilah Mahmood (1959), A, E, G
• Dr Mark Schneider (1965), B, E, G
• Dr Claudia Suessmuth Dyckerhoff (1967), A, B, E, G

Committee Structure:

• A: Corporate Governance and Sustainability Committee
• B: Audit Committee
• C: Remuneration Committee
• D: Chairman's/Nomination Committee
• E: Non-executive director
• F: Executive director (currently no member)
• G: Independent member of the Board of Directors
• *: Committee chairperson

Corporate Executive Committee

Roche Corporate Executive Committee on 31 December 2024:

• Dr Thomas Schinecker (1975), CEO Roche Group
• Teresa Graham (1973), CEO Roche Pharmaceuticals
• Matt Sause (1977), CEO Roche Diagnostics
• Dr Alan Hippe (1967), Chief Financial and Information Officer
• Cristina A. Wilbur (1967), Chief People Officer
• Claudia Böckstiegel* (1964), General Counsel
• Prof. Dr Hans Clevers* (1957), Head Roche Pharma Research and Early Development (pRED)
• Dr Levi Garraway* (1968), Head Global Product Development and Chief Medical Officer
• Silke Hörnstein* (1975), Head Corporate Strategy and Sustainability
• Dr Aviv Regev* (1971), Head Genentech Research and Early Development (gRED)
• Barbara Schädler* (1962), Head Group Communications
• Boris Zaïtra* (1972), Head Corporate Business Development

*Member of the Enlarged Corporate Executive Committee

Governance of Sustainability

The Board of Directors oversees sustainability matters through the Corporate Governance and Sustainability Committee. Sustainability is integrated into our corporate strategy and is overseen by our Chief Sustainability Officer, Barend van Bergen, working with Silke Hörnstein, Head Corporate Strategy and Sustainability and member of the Enlarged Corporate Executive Committee.

Our Corporate Sustainability Steering Committee is responsible for assessing social, environmental, economic and governance trends that could impact our business through our business environment risk and opportunity assessment process.

The Supervisory Board of Salzgitter AG comprises 21 members: specifically ten shareholder and ten employee representatives plus one other member. This composition has been laid down under the provisions of the Co-Determination Amendment Act applicable to the company, in conjunction with Article 7 of the company's Articles of Incorporation.

The core tasks of the Supervisory Board are to advise and supervise the Executive Board in its management of the company. In accordance with the statutory requirements, certain fundamental decisions may only be made with its approval. The Supervisory Board has determined that, in addition, certain types of transactions require its approval.

The Supervisory Board and the Executive Board discussed the corporate plan in detail prepared and submitted by the latter for the financial years 2025 through 2027. The Supervisory Board was also brought up to date on the SALCOS® program. Other topics of consultation in this meeting included the imminent defining of the qualitative criteria determining variable Executive Board remuneration in 2025 for assessing the performance of the individual Executive Board members, as well as the stakeholder objectives for the performance period from 2025 through 2028.

Special expertise in matters of sustainability is represented on the Audit Committee by the person of Prof. Dr. Schindler who has dealt intensively over many years with sustainability reporting and the respective audit as part of his supervisory board activities, and by Ms. Hardekopf.

A recurring, key topic addressed by the Supervisory Board in its work concerns sustainability issues. The Executive Board regularly reports on general developments of significance and progress in the area of sustainability, since May 2024 at each regular meeting of the Supervisory Board.

Composition of the Board and its committees

Information required under ESRS 2 paragraphs 20 and 21 can be found on Sanofi's website. One of these directors holds an executive position at Sanofi (Sanofi's CEO), while 16 are non-executives. Sanofi has two directors representing employees on its Board of Directors.

Responsibilities of the Board and its members for IROs, as depicted in the terms of reference or Board mandates

The Board of Directors shall lay down the orientations of the Company's activities and ensure that they are implemented, paying due consideration to social and environmental issues. The Board is committed to a long-term value creation approach while considering the social and environmental impacts, risks and opportunities of the Company's operations.

The Appointments, Governance and CSR (AGC) Committee of the Board addresses CSR-related topics at least four times per year and reports to the Board. On CSR matters, the Committee: • examines and monitors the Company's commitments and policy orientations in terms of social, environmental and societal responsibility (collectively referred to as Corporate Social Responsibility or "CSR") and the extent to which they meet stakeholder expectations, and more generally ensure that CSR issues are taken into account in developing and implementing corporate strategy; • ensures that on climate-related issues the Company's strategy is accompanied by precise objectives defined for different time frames, and reviews annually the results achieved. The Committee may review the presentation to the shareholders' meeting of the climate strategy; • examines draft reports by the Company on governance (including the sections dealing with the diversity policy applied to members of the Board) and CSR matters (especially the sustainability information), and more generally ensure that all information required by applicable legislation on such matters is prepared; • ensures that regular exchanges take place with shareholders on corporate governance and CSR issues and determine how such exchanges take place, while making sure that the principles of equal treatment of all shareholders and the collegiate nature of the Board are not undermined; • identifies and discuss emerging trends in governance and CSR, and ensure that the Company is preparing as well as possible to deal with those trends in light of issues specific to its operations and objectives; and • where applicable, participates in the determination, in conjunction with the Compensation Committee, of the extra-financial criteria included in the Company's remuneration policies.

The Committee does not include any executive corporate officers and is composed primarily of independent directors. The non-executive Chairman is a member of this Committee. While not a member of the committee, the Chief Executive Officer is involved in its work.

As of 2024, the Audit Committee (AC) has a formal oversight role on sustainability reporting. It can challenge the adequacy of such reporting, especially on the materiality assessment and the information to be provided with respect to material impacts, risks and opportunities in accordance with the CSRD and related methodology established by EC, EFRAG and other guidance (refer to the CSRD Disclaimer and Explanatory Note).

Role of the administrative, management and supervisory bodies related to business conduct

As part of its duties, the Audit Committee must obtain assurance that the Chief Executive Officer has sufficient resources to identify and manage the risks, and in particular risks of an economic, financial and legal nature, to which the Company is exposed in the course of routine and exceptional transactions (see article VI B. of Sanofi's Board Charter). In this respect, the Ethics & Business Integrity (E&BI) department is heard regularly by the Audit Committee and provides updates on its roadmap.

The Audit Committee meets at least six times a year and reports to the Board of Directors and informs the Board immediately of any difficulties encountered. Business integrity topics are discussed at least once a year.

Responsibilities of the CEO and the Executive Committee for IROs

The Executive Committee regularly monitors Sanofi's impacts, risks and opportunities, as well as the work carried out by the sub-committees described hereafter. Some members of the Executive Committee are also appointed as owners or sponsors of a given CSR topic within the broader CSR strategy outlined previously.

The Risk Committee is chaired by the Group General Counsel and gathers executives from Global Business Units (GBUs) and functions (GFs). It consolidates the risks and impacts identified by the sub-committees and focuses on those that are high priority for Sanofi. The group Risk Committee then assigns each identified risk or impact to the relevant Executive Committee member and reports regularly to the Audit Committee. The group Risk Committee reports on a quarterly basis to the Executive Committee on the progress of the mitigation plans.

The Executive Compliance Committee (ECC) ensures the effectiveness of Sanofi's Ethics & Business Integrity program and monitors the corresponding impacts, risks and opportunities. The ECC is chaired by the CEO with senior representatives from all key functions and GBUs. The ECC meets every quarter.

Other operational governance bodies responsible for overseeing IROs

The CSR Committee comprises the senior leaders of Sanofi's Global Business Units and global functions. It meets on a quarterly basis to discuss key CSR topics. As part of Sanofi's double materiality assessment, the CSR Committee was given formal oversight of the identification of social and governance impacts, risks and opportunities in accordance with the CSRD and related methodology established by EC, EFRAG and other guidance (refer to the CSRD Disclaimer and Explanatory Note).

The Planet Care Impact Steering Committee oversees the Planet Care pillar of Sanofi's CSR strategy and therefore monitors its efforts towards its environmental transition. The Committee chaired by the Head of Manufacturing & Supply (also an Executive Committee member) includes senior executives from Environment, CSR, Procurement and R&D functions along with senior representatives from Sanofi's GBUs and other activities. It submits strategic orientations and the company's commitments to managing its environmental (climate, pollution, biodiversity and waste) impacts, risks and opportunities to the Executive Committee, which reviews these proposals with respect to their operational implementation.

The Climate-related Risk & Opportunities Committee (CROC) oversees Sanofi's climate change adaptation efforts. It works closely with the Planet Care Impact Steering Committee to ensure that the Task-force for Climate-related Disclosure (TCFD) recommendations are applied at all levels of organization and that systems are in place to manage climate-related risks and opportunities. This group, which meets monthly, includes senior executives from CSR, HSE, Environment, Risk Management and Insurance, along with senior representatives from Strategy, Finance, Legal, CSR, Procurement, Supply Chain and HSE.

The role of the administrative, management and supervisory bodies

SAP Executive Board

Christian Klein - Chief Executive Officer (CEO)

• Joined SAP: 1999
• Appointed to the Executive Board: 2018
• Current Executive Board term expires: 2028
• Nationality: German
• Year of Birth: 1980
• Other board memberships: Supervisory Board, adidas AG, Herzogenaurach, Germany (publicly listed)

Dominik Asam - Chief Financial Officer

• Joined SAP: 2023
• Appointed to the Executive Board: 2023
• Current Executive Board term expires: 2026
• Nationality: German
• Year of Birth: 1969
• Other board memberships: Supervisory Board, Bertelsmann Management SE and Bertelsmann SE & Co. KGaA, Gütersloh, Germany (not publicly listed)

Muhammad Alam - SAP Product Engineering

• Joined SAP: 2022
• Appointed to the Executive Board: 2024
• Current Executive Board term expires: 2027
• Nationality: U.S. Citizen
• Year of Birth: 1977

Thomas Saueressig - Customer Services & Delivery

• Joined SAP: 2004
• Appointed to the Executive Board: 2019
• Current Executive Board term expires: 2028
• Nationality: German
• Year of Birth: 1985
• Other board memberships: Board of Directors, Nokia Corporation, Espoo, Finland (publicly listed)

Sebastian Steinhaeuser - Chief Operating Officer

• Joined SAP: 2020
• Appointed to the Executive Board: 2025
• Current Executive Board term expires: 2028
• Nationality: German
• Year of Birth: 1985

Gina Vargiu-Breuer - Chief People Officer, Labor Relations Director

• Joined SAP: 2024
• Appointed to the Executive Board: 2024
• Current Executive Board term expires: 2027
• Nationality: German
• Year of Birth: 1975

Supervisory Board

The Supervisory Board of SAP SE discharged the duties imposed on it by the law and by the Company's Articles of Incorporation. It advised the Executive Board on an ongoing basis with regard to the running of the Company, and it scrutinized and monitored the work of management.

The Supervisory Board received regular, full, and timely reports from the Executive Board, both from members in person and in written documents. The Supervisory Board and its various committees were also in regular exchange with senior internal officers.

Dr. h.c. mult. Pekka Ala-Pietilä - Chairperson (since 5/15/2024) Lars Lamadé - Deputy Chairperson Dr. Friederike Rotsch - Lead Independent Director

The Supervisory Board held four regular meetings and seven extraordinary meetings in 2024. The following committees were active:

• Personnel and Governance Committee
• Audit and Compliance Committee
• Finance and Investment Committee
• Product and Technology Committee (since May 15, 2024)
• Nomination Committee
• Government Security Committee (since January 1, 2024)

The Supervisory Board addressed key topics including:

Strategy and Transformation

The Executive and Supervisory Boards discussed SAP's corporate strategy and cloud transformation on numerous occasions in 2024. The Supervisory Board was updated on the restructuring program and discussed its implementation with the Executive Board.

Sustainability

At SAP, sustainability has two main dimensions: providing solutions that help customers do business in a sustainable way, and aligning our business activities with sustainability targets to lead by example. Throughout the year, sustainability topics were discussed at meetings of the full Supervisory Board and various committees. The Audit and Compliance Committee looked closely at the new European Corporate Sustainability Reporting Directive (CSRD) and at how SAP technologies for sustainability reporting can be used to track ESG data.

The role of the administrative, management and supervisory bodies

Board of Directors The duties of Siili's Board of Directors are determined in the Limited Liability Companies Act, according to which the Board of Directors shall see to the administration of the Company and the appropriate organisation of its operations and ensure the appropriate arrangement of the control of the Company's accounts and finances, in addition to which, the Board is tasked with monitoring and evaluating the organisation and internal control of sustainability reporting. Hence, the Board of Directors is also the highest-level body within the Company responsible for the management of sustainability and the appropriateness of activities. It adopts the Company's sustainability targets and monitors their achievement. Furthermore, the Board of Directors adopts Siili's Code of Conduct steering its activities and more detailed instructions based on it.

Sustainability has been integrated into the Company's long-term strategy adopted by the Board of Directors, long-term business plans, risk assessments and annual action plans. The Board of Directors monitors progress towards the sustainable development goals in its meetings, and adopts a sustainability report at least on an annual basis. After their meetings, the Audit Committee and the HR Committee report to the Board of Directors on sustainability topics discussed by them.

Board of Directors' sustainability expertise Siili's Board of Directors has actively participated in the double materiality analysis process, studied its results, and approved the determined materiality threshold and the final outcome of the process. The Board of Directors has actively monitored the preparation of the sustainability report and will monitor the execution on the sustainability targets to be established on a regular basis, at least annually. All members of Siili's Board of Directors are experienced in various management duties in sectors relevant to Siili, such as the IT and technology business, and many key customer sectors, including banking and finance as well as consumer business. Moreover, all members of the Board of Directors have served or are serving as board members in listed and unlisted companies. The educational background of the members is in technology, law, or business, and they have wide-ranging national and international expertise in the Company's sector, including AI and the data business. Members of Siili's Board of Directors also function in responsible positions at other companies that are obliged to prepare a sustainable development report.

Committees of the Board of Directors Siili's Board of Directors has appointed an Audit Committee and HR Committee from among its members to assist the Board of Directors in the preparation of matters. The Board of Directors has adopted charters for the Committees, which outline the main duties and operating principles of the Committees.

Siili's Audit Committee assists the Board of Directors in performing its supervisory duty regarding financial and sustainability reporting and control, risk management as well as internal and external audit. The Company's risk management also encompasses all material sustainability-related risks. In 2025, the Company integrate the risks identified in the double materiality analysis and their management into its business risk management processes.

The HR Committee prepares materials and provides advice on the personnel of the Company as well as matters related to the remuneration and incentives of the Company's management. The Committee is tasked with, among other things, reviewing the compatibility of the HR strategy and business strategy, the results of the job satisfaction survey, the performance of occupational safety and health enforcement, the diversity situation, as well as related plans and policies.

Chief Executive Officer, Management Team and employees' representation Siili's CEO steers and supervises the Company's business and is responsible for the day-to-day operational management of the Company, productisation as well as strategy implementation. The CEO also prepares matters for Board review is responsible for their implementation. The CEO is responsible for the promotion of the sustainability programme in accordance with instructions given by the Board of Directors. The CEO reports to the Board of Directors on sustainability-related material impacts, risks and opportunities, as well as progress towards sustainability targets.

Siili's employees are represented in the management team for the Finnish business by a staff representative. Siili does not have employee representation in other administrative or supervisory bodies.

Identity of the members of the administrative, management and supervisory bodies responsible for oversight of impacts, risks and opportunities

Gender diversity ratio of the bodies, percentage share of independent Board of Directors' members

The role of the administrative, management and supervisory bodies is described throughout the Corporate governance statement. The Board culture is built on stewardship, trust, transparency and learning. It extends to the dialogue between the Board and senior management. In the past year we have thus had intense and fruitful exchanges with the leadership team on the transformation of Solvay, developing the new company strategy and formulating the new sustainability roadmap of Solvay.

We also know that we will need to change some things. Let me mention two, which became apparent through the encompassing cultural transformation initiative that we took last year.

First, we need to focus more. On what truly matters, on what creates value, for customers, for our stakeholders and for the planet. To fully benefit from the split, we need to relentlessly eliminate complexity and waste. We need to focus our efforts and resources where it matters and impacts most.

Second, we need to embrace change. This may sound as a trivial statement as success in industry always hinges on the ability to improve and change. But change is hard, it implies acknowledging that what we have done in the past, what we do today with commitment and care, should nevertheless evolve to remain competitive and innovative. Not because we have been wrong in the past but because we just can still become better. And this requires mental strength and humility.

The role of the administrative, management and supervisory bodies

The Board's responsibility for sustainability work

(GOV-1 § 22 c & d, GOV-2 § 26 a) SSAB's Board of Directors is ultimately responsible for the company's sustainability work, which includes, among other things, conducting business responsibly and managing risks and opportunities related to sustainability at a strategic level (for more information on identified impacts, risks and opportunities in the area of sustainability, see the Sustainability Report, section Process for assessment of material impacts, risks and opportunities (IRO-1)). For example, the Board approves the Code of Conduct, the sustainability strategy and the strategy and investments related to the transformation to fossil-free steel production.

At Group Executive Committee meetings the development of SSAB's sustainability work is regularly reported to the CEO by the members of the Group Executive Committee in accordance with their respective areas of responsibility (for more information, see section The Group Executive Committee's responsibility for sustainability work), which is consolidated and reported to the Board of Directors. The board is informed, if deemed necessary, in the event of changes to group directives and instructions due to, for example, regulatory changes or based on internal evaluations.

The Board of Directors is updated at least quarterly about the development of SSAB's sustainability work in the company's material areas. The Board is updated through information in internal reports or other documents and presentations that are provided ahead of and presented at Board meetings. For the areas that have set targets, the Board is presented with the current outcome in relation to the set targets. Information about the Group's safety work and SSAB's transformation to fossil-free steel production is given at each ordinary meeting.

Since sustainability and climate issues, especially the transformation to fossil-free operations, are an integral part of SSAB's business strategy, the Board does not have a separate sustainability committee. The Sustainability Report is processed in the Audit Committee as part of the Annual Report.

The Board of Directors follows the views of the most important stakeholders in relation to SSAB's sustainability work, for example employee representatives are included in the Board of Directors which gives the employees agency in questions discussed by the Board. Furthermore, the Board also has contact with, for example, shareholders, especially in connection with the Annual General Meeting, as well as authorities and politicians. Otherwise, the Board has delegated stakeholder dialogs to members of the Group Executive Committee, within their respective areas of responsibility (for more information on the Group Executive Committee's areas of responsibility, see section The Group Executive Committee's responsibility for sustainability work. The Board of Directors is informed as required or if major changes are made.

Rules of procedure of the Board

(GOV-1 § 22b) Each year, the Board adopts the rules of procedure, including instructions to the CEO, which, among other things, govern the allocation of work between the Board and the CEO. The rules of procedure further regulate the frequency of Board meetings and the allocation of work among the Board's committees. The rules of procedure state that there must be a Remuneration Committee and an Audit Committee. Ahead of each Board meeting, the directors receive a written agenda and full documentation to serve as the basis for decisions. Each Board meeting conducts a review of the Group's safety statistics, sustainability objectives – including significant impacts, risks and opportunities related to sustainability matters, the current state of the business, the Group's results, financial position and the business (for more information on the Board's and the Group Executive Committee's responsibility in sustainability work, see section The Board's responsibility for sustainability work and The Group Executive Committee's responsibility for sustainability work). Other issues addressed include competition and the market situation.

Audit Committee

Duties

(GOV-1 § 22 b) The Audit Committee elects a Chair from among its members. Members of the Audit Committee are elected from directors who are not employees of the company. At least one of the members must be competent in accounting or auditing matters.

The duties of the Audit Committee are stated in the Board's rules of procedure. The Chair of the Committee is responsible for ensuring that the entire Board is kept regularly informed of the Committee's work and, where necessary, for submitting matters to the Board for decision.

The main duty of the Audit Committee is to support the Board in its work to ensure the quality of the financial and sustainability reporting.

Remuneration Committee

Duties

(GOV-1 § 22 b) In addition to the Chair of the Board of Directors, the Remuneration Committee comprises one or more directors elected by the general meeting who must be independent both of the company and of the company's top management. The Committee members must possess the required knowledge and experience of remuneration matters relating to senior executives. The Committee's duties are stated in the Board's rules of procedure. The CEO attends the Committee meetings to report on matters.

Work of the Board in 2024

(GOV-1 § 21, GOV-2 § 26 b & c) In 2024, the Board of Directors held 12 meetings at which minutes were taken and the Board was quorate at all times. SSAB's General Counsel, who is not a director, served as a secretary to the Board. During the financial year 2024, the Board of Directors consisted of seven members elected by the Annual General Meeting during the period January 1–April 24, 2024, nine directors elected by the Annual General Meeting during the period April 24–October 28, 2024 and eight directors elected by the Annual General Meeting during the period October 28–December 31, 2024. As at December 31, 2024, the Board of Directors consisted of four women and four men (corresponding to a ratio of 50%/50% for female/male directors). In addition, the Board during the financial year 2024 consisted of three employee representatives and three deputies. All of the directors elected by the Annual General Meeting during the financial year 2024 were non-executive directors, with the exception of Martin Lindqvist, who was an executive director in the capacity of President and CEO during the period January 1–October 28, 2024. All (100%) of the non-executive directors of the Board of Directors are deemed to be independent in relation to both the company and the company's management, as well as the company's major shareholders.

The Board's experience and expertise in the company's sectors, products and geographical locations and sustainability

(GOV-1 § 23) The Board of Directors is evaluated annually to ensure that it has the required combined experience and competence for SSAB's operations, which includes the company's products, the sectors and geographical locations in which SSAB operates as well as material sustainability areas. The evaluation for 2024 was conducted by an external party and consisted of an extensive questionnaire that was answered by each director individually as well as individual interviews with the directors. The questionnaire mainly related to the Board's efficiency and collective competence to handle its responsibilities in relation to important areas for the company. The responses were consolidated and reported anonymously to the Board of Directors and to the Nomination Committee prior to their preparation of proposals for the election of directors (for more information on the Nomination Committee's work, see section Nomination Committee). The conclusion from the Board evaluation carried out in 2024 was that the directors were deemed to have appropriate experience and competence for the company's operations.

A special sustainability focus for the Board evaluation was to ensure that the Board has the necessary competence for the implementation of the company's transition to fossil-free steel production, which included competence and experience in the heavy processing industry, international marketing and sales, major investment projects, finance, IT and digitalization as well as corporate social responsibility.

In addition to the competence that the Board possesses in the area of sustainability, the Board also has access to additional competence when necessary, primarily through specialized employees within the Group.

The Board of Directors and the President and CEO are responsible for the management of the Company. The Board of Directors and other corporate governance structures are described below:

Governance Structure:

• Shareholders exercise their ownership rights through shareholders' meetings
• The Board of Directors is the main governing body
• The President and CEO leads the company with support from the Group Leadership Team (GLT)
• Day-to-day operational responsibility rests with GLT members supported by divisional and function teams

Board Committees:

• Financial and Audit Committee
• People and Culture Committee
• Sustainability and Ethics Committee

Supporting Functions:

• Internal Audit
• Risk management
• Internal control
• Ethics and Compliance
• External Audit

Board of Directors: The Board of Directors is responsible for managing the Company together with the President and CEO. The governance follows Finnish law and corporate governance policies that comply with the Finnish Companies Act and Finnish Securities Market Act.

Shareholders' Meetings: The AGM is held annually by the end of June in Helsinki, Finland. The AGM deals with matters including:

• Presentation and adoption of annual accounts
• Distribution of funds to shareholders
• Discharge of Board members and CEO from liability
• Election of Board Chair, Vice Chair, and members
• Election of Auditor

2024 AGM Results: The 2024 AGM was held on 20 March 2024 in Helsinki. Of all issued and outstanding shares, 66.7% were represented (69.3% in 2023) and 83.2% of all votes (85.9% in 2023).

At the Management Board level, responsibilities in the past financial year were as follows:

• COO (also Co-CEO): Real Estate Management, Acquisitions and Sales, Strategic Real Estate Management & Marketing, Shared Service Centre, Customer and Quality Management, FM Services, Craftsmen Service, Central Purchasing and Technology, Change Management, Business Apartments, Energy Residential Service, Multimedia Real Estate, Business Development, Environmental Social Governance (ESG), Digitalisation and Human Resources

• CFO (also Co-CEO): Group Accounting, Financing and Treasury, Corporate Finance, Tax, Controlling, Investor & Public Relations, ERP/Data Management, Legal, Judicial Rental Collection, IT, Compliance, Internal Audit and Property Management

The Supervisory Board was able to expand with the election of Ms Gabriela Gryger as a shareholder representative at the Annual General Meeting on 28 May 2024. She has extensive expertise in the Polish residential real estate market. This also further strengthens the diversity of the Supervisory Board, with women making up 50% of the Supervisory Board, as they do of the Management Board, and our Supervisory Board is now internationally positioned, as Ms Gryger has Polish citizenship.

The existing members of the Supervisory Board and new member Ms Gryger have the knowledge, skills and experience required to properly perform their duties. The respective professional expertise of the individual Supervisory Board members complements each other, enabling the Supervisory Board as a whole to comprehensively fulfil its duties. The Supervisory Board's control and advisory function is ensured in accordance with the law, the Articles of Association, the German Corporate Governance Code and the rules of procedure.

The Supervisory Board has formed an Audit Committee and a Personnel Committee. The Audit Committee is responsible for the preliminary audit of the documents relating to the annual financial statements and the consolidated financial statements, as well as the preparation of the adoption or approval of these and the Management Board's proposal for the appropriation of profits. The committee discusses with the Management Board, among other things, the principles of compliance, the risk management system and the appropriateness and functionality of the internal control systems. The tasks of the Audit Committee also include preparing the election of the auditor by the Annual General Meeting and verifying the auditor's independence required for this purpose. The members of the Audit Committee have sufficient expertise in the field of accounting and auditing. Expertise in both areas includes reporting, including its audit on sustainability topics.

The Personnel Committee, which also performs the tasks of a nominating committee, is responsible for all personnel matters related to the Supervisory Board and Management Board, the conclusion and content of Management Board contracts and related advisory matters, including fixed and variable remuneration. Furthermore, the Personnel Committee selects suitable candidates for nomination to the Supervisory Board at the Annual General Meeting.

The role of the administrative, management and supervisory bodies

Management Board Structure and Responsibilities

The Management Board is responsible for the strategic direction and operational management of TeamViewer SE and the Group. As of the reporting period, the Management Board consisted of:

• Oliver Steil - Chief Executive Officer (CEO)
• Michael Wilkens - Chief Financial Officer (CFO)
• Mei Dent - Chief Product and Technology Officer (CPTO)
• Peter Turner - Chief Commercial Officer (CCO) until his contract expiration
• Mark Banfield - Appointed as new Chief Commercial Officer (CCO) effective February 2025, following the acquisition of 1E

In September 2024, the Supervisory Board granted a three-year extension of CFO Michael Wilkens' contract ahead of schedule to continue his successful work and further improve TeamViewer's financial profile. Similarly, CPTO Mei Dent's contract was extended for three years in December 2024 to further advance the significant progress of the product and R&D strategy.

Supervisory Board Structure and Responsibilities

The Supervisory Board monitors and advises the Management Board in accordance with the law, the Articles of Association, and its Rules of Procedure. As of 31 December 2024, the Supervisory Board consisted of:

• Ralf W. Dieter - Chairman
• Dr. Abraham Peled
• Axel Salzmann
• Hera Kitwan Siu
• Swantje Conrad
• Christina Stercken
• Dr. Joachim Heel - Elected at the Annual General Meeting 2024

The Supervisory Board maintained a constructive, open, and faithful working relationship with the Management Board throughout 2024. Through regular, in-depth dialogue, the Supervisory Board provided advice on corporate management while monitoring the Management Board's activities. The Supervisory Board was consistently involved in decisions of fundamental importance to the Company.

Board Committees

To perform its tasks efficiently, the Supervisory Board has formed the following committees:

Audit Committee

The Audit Committee, which also serves as the Sustainability Committee, monitors accounting processes, risk management, the effectiveness of the internal control system and the internal audit system. It also deals with compliance issues as well as environmental, social and governance (ESG) topics. The Committee verifies the independence of the external auditor, awards audit engagements, specifies audit priorities, and agrees on auditor fees.

Nomination and Remuneration Committee

The Nomination and Remuneration Committee proposes suitable candidates to the Supervisory Board for election proposals to the Annual General Meeting. The Committee also examines all aspects of remuneration and terms of employment for the Management Board and makes relevant recommendations to the Supervisory Board.

Board Meeting Activity

The Supervisory Board convened seven meetings during the reporting period. Regular topics at Board meetings included business performance, strategic direction and financial performance of TeamViewer SE and the Group. Key focus areas during 2024 included:

• The acquisition of 1E and its related financing
• Corporate strategy development
• Personnel matters including succession planning
• IT security incident management
• Share buyback program and treasury share cancellation
• Budget planning for 2025

Management Board Reporting

The Management Board regularly, promptly, and comprehensively updated the Supervisory Board on:

• Strategy development and implementation
• Planning and business performance
• Risk position and risk management
• Compliance matters
• Personnel planning
• Sustainability strategy
• Communication with investors
• Current events affecting the Company

Transactions requiring Supervisory Board approval under legal or statutory provisions were presented for consultation and resolution, with some prepared in advance by the committees.

Board of Directors

It is the general obligation of Tietoevry's Board of Directors to safeguard the interests of the company and its shareholders.

Composition and election

According to Tietoevry's Articles of Association, the Board of Directors elected by the shareholders shall consist of no fewer than six and no more than twelve members. Each Board member serves a one-year term, which expires at the closing of the first AGM following their election.

The company has defined as the objective that, in addition to professional competence, Tietoevry's Board members shall be diverse in terms of gender, occupational, and professional backgrounds. Furthermore, the Board as a whole shall possess sufficient knowledge of and competence in, inter alia, the company's field of business and markets, as well as environmental, social, and governance matters.

Tasks

The main duties and working principles of the Board have been defined in a written charter. Additionally, the work of the Board is based on an annual action plan.

More specifically, the Board: • approves the company's values, strategy and organizational structure • defines the company's dividend policy • approves the company's annual plan and budget and supervises their implementation • monitors management succession, appoints and discharges the President and CEO • decides on the President and CEO's compensation, sets annual targets and evaluates their accomplishment • decides on the compensation of the President and CEO's immediate subordinates • addresses the major risks and their management at least once a year • reviews and approves interim reports, annual reports and consolidated financial statements and sustainability statements • reviews and approves the company's key policies • is accountable for guiding the organization's strategy on environmental, social and governance (ESG) topics • meets the company's auditors at least once a year without the company's management • appoints the members and Chairpersons of the Board's committees and defines their charters • reviews assessments of its committees as well as the President and CEO • evaluates its own activities.

The Board has scheduled meetings every one to two months. Besides the Board members, the meetings are attended by the President and CEO, Chief Financial Officer (CFO) and General Counsel, who acts as secretary of the meetings.

2024

• The Board convened 16 times in 2024 and the average attendance was 98.5%. • The Board had seven sessions during the convened Board meetings without the management present. • The auditors were present at one convened Board meeting. • The Board met the auditors once without the presence of the management.

Report of the Supervisory Board

The Supervisory Board supervises the policies of the Executive Board and the general course of affairs at TKH and its businesses. We also advise the Executive Board. The Supervisory Board performs its duties with integrity and focuses on the interests of the company and its stakeholders, including shareholders, employees, and customers. In the performance of our duties, we are guided by the applicable statutory regulations, the articles of association, our own regulations, the Dutch Corporate Governance Code, and other applicable rules and regulations.

Role of the administrative, management and supervisory bodies

Executive Board The Executive Board manages TKH and is responsible for the strategy, the resulting objectives and results, and the related stakeholder interests. The Executive Board is responsible for compliance with all relevant legislation and regulations, managing the risks associated with business activities, the financing of the company, the corporate strategy and policies arising therefrom.

Supervisory Board The Supervisory Board supervises the Executive Board and provides advice. The Supervisory Board also supervises the general course of affairs at TKH and its businesses. The Supervisory Board is guided by the interests of the company and takes into account the relevant interests of the company's stakeholders. The Supervisory Board is ultimately responsible for the quality of its own performance.

Committees The Supervisory Board has established three committees: the Audit and Risk Committee, the Remuneration Committee, and the Selection, Appointment and Nomination Committee. These committees prepare decision-making by the Supervisory Board within their respective areas of expertise.

Our governance

A committed Board of Directors

TotalEnergies' governance is based on a committed Board of Directors that oversees the Company's strategy and operations, including its transition strategy and sustainable development approach.

An Executive Committee entrusted with implementing the Company's transition strategy

The Executive Committee is responsible for implementing the Company's transition strategy, which is anchored on two pillars: Oil & Gas (notably LNG) and electricity, the energy at the heart of the transition.

An operational structure built around the Company's business segments

The Company's operational structure is organized around its business segments to support the implementation of its multi-energy strategy and sustainable development objectives.

Board composition and diversity

• 22.2% of Executive Committee members and 33.3% of the G70 are women in 2024
• 29.5% of senior executives are women and 25.8% of senior managers are women in 2024
• 38.6% of senior executives are non-French nationals and 36.4% of senior managers are non-French nationals in 2024

Targets

• Women to account for 30% of Executive Committee members and of the G70 by 2025
• Women to account for 30% of senior executives by 2025 and 30% of senior managers by 2025
• Non-French nationals to account for 45% of senior executives and non-French nationals to account for 40% of senior managers

The Supervisory Board is responsible for the central strategic management and financial control of Tryg and for ensuring that Tryg's business setup is robust. This is achieved by monitoring targets and frameworks based on regular and systematic reviews of strategy and risks.

The Executive Board reports to the Supervisory Board on strategies and action plans, market developments and Group performance, capital requirements and risks, etc. The Supervisory Board holds an annual strategy seminar to decide on and/or adjust the Group's strategy to sustain value creation in the company. The Executive Board works with the Supervisory Board to ensure that the Group's strategy is developed and monitored. The Supervisory Board ensures that the necessary skills and financial resources are available for Tryg to achieve its strategic targets.

The Supervisory Board specifies its activities in a set of rules of procedure and an annual cycle for its work.

The role of the Supervisory Board excl. employee representatives

Size of the Supervisory Board: Number of non-employee representatives

The role of the administrative, management and supervisory bodies is detailed in section 4 Corporate Governance of the report. The Board of Directors exercises its mission of general management of the Company and controls the management in accordance with the corporate interest, taking into account the social and environmental challenges of its activity. As at March 31, 2025, the Board of Directors is composed of 11 members including 54.55% independent directors and 54.55% women. The Board of Directors has four specialized committees: Audit & Risk Committee, Compensation Committee, Nomination Committee, and Strategy & Investment Committee.

The administrative, management and supervisory bodies of Vestas play a pivotal role in sustainability governance and the company's strategic direction. The Board of Directors includes sustainability oversight as part of its responsibilities, with the Audit Committee overseeing sustainability reporting and related risks. The Board regularly reviews sustainability performance and progress against targets through quarterly presentations from management.

The Board has established committees including the Audit Committee which has specific oversight responsibilities for sustainability matters. The Executive Management, led by CEO Henrik Andersen, has integrated sustainability into business strategy and operations.

The governance structure includes the Enterprise Leadership Team (top 80 leaders) and the Vestas Leadership Forum (top 250 leaders) which provide strategic alignment on sustainability initiatives across the organization. Regional Leadership Forums also support the cascading of sustainability priorities throughout the global operations.

Sustainability governance is embedded in the company's decision-making processes with quarterly assessment of sustainability-related goals broken down into key products, services and geographies presented to the Executive Management and the Board. The Board oversees the company's sustainability strategy which has a clear mandate of 'sustainability in everything we do'.

The Board of Directors determines the orientations of the Company and the Group's activities and ensures their implementation in accordance with its corporate interest, taking into consideration the social and environmental aspects of its activity.

Board Structure:

• 9 DIRECTORS
• 87.5% are independent (excluding Director representing the employees)
• 50% are women (excluding Director representing the employees)
• 8 MEETINGS with 100% attendance rate

Board Composition:

• Sophie ZURQUIYAH - CEO and Director (End of term: GM 2026)
• Philippe SALLE - Chairman of the Board (End of term: GM 2025)
• Michael DALY - Director (End of term: GM 2025)
• Patrick CHOUPIN - Director representing the employees (End of term: GM 2025)
• Anne-France LACLIDE-DROUIN - Director (End of term: GM 2025)
• Amélie OYARZABAL - Director (End of term: GM 2028)
• Colette LEWINER - Director (End of term: GM 2027)
• Mario RUSCEV - Director (End of term: GM 2027)
• Olivier JOUVE - Director (End of term: GM 2028)

Board Committees:

• Audit and Risk Management Committee: 6 meetings, 100% attendance rate, 100% independence, 3 members
• Appointment, Remuneration and Governance Committee: 8 meetings, 97% attendance rate, 100% independence, 4 members
• Sustainability Committee: 3 meetings, 100% attendance rate, 100% independence, 4 members
• New Businesses and M&A Committee: 4 meetings, 95% attendance rate, 80% independence, 5 members

Diversity of Skills and Expertise:

• Energy, Oil and Gas: 67%
• Digitalization, Technology, IT: 78%
• Human Resources & Governance: 89%
• Mandates on Listed Company Boards: 56%
• Strategy: 89%
• Finance, Risk Management: 56%
• International Experience: 89%
• Company Management and Executive Experience: 89%
• Corporate Social Responsibility: 67%

Board Diversity:

• Average age: 62 years
• Gender balance: 50% women, 50% men (excluding employee director)
• Nationalities: France (67%), USA (25%), UK (8%)
• Independence: 87.5% independent directors

The functioning of the Board is governed by Internal Regulations available on the Company's website www.viridiengroup.com

WithSecure's administrative body is the Board of Directors ("the board"). The Board of Directors has seven members, of which six are non-executive. The one executive member is a member elected from WithSecure's personnel.

The Board of Director's Audit Committee is the supervisory body of WithSecure. The Audit Committee is neither a decision-making nor an executive body. The Board of Directors appoints from among itself the members and the Chair of the committee. The Audit Committee has four members, of which three are non-executive. The independence of the members is determined based on their independence of the company, not independence of major shareholders.

In terms of the Board of Directors' roles and responsibilities, WithSecure's Board of Directors is the highest administrative body in charge of sustainability matters in the company. As sustainability is incorporated into WithSecure's business strategy in form of the sustainability program, sustainability matters are a scheduled agenda item in Board of Directors' meetings annually. The Board of Directors approves the high-level priorities and objectives regarding sustainability. The Sustainability report is approved by the Board of Directors, as part of the approval of the Board of Directors report.

The Board of Directors is also involved in approving the identified sustainability-related impacts, risks and opportunities and determining that their mitigation and management has been adequately integrated into the company's sustainability program. The Global Leadership Team (GLT) members set and accept the sustainability-related targets on an operational basis. The progress in targets is presented to the Board of Directors annually. The Board has the final authority to approve these targets when they review and approve the full annual report.

Board Composition and Diversity:

• Board of Director's gender diversity ratio (percentage of women): 29%
• Board of Director's independent board members ratio: 86%
• Audit Committee's gender diversity ratio (percentage of women): 50%
• Audit Committee's independent board members ratio: 75%

Sustainability is integrated into Corporate Governance. In this regard, various Company bodies are involved in the establishment, supervision, and management of these issues.

The Board of Directors is responsible for the Company's overall strategy. As part of this, it is responsible for overseeing sustainability-related IROs, approving the setting of targets that contribute to advancing the Group's commitment to the environment, people and society, as well as overseeing the monitoring of progress in this area. Sustainability issues are part of the decision-making process of the Board of Directors, which is regularly updated on the Group's targets and progress in these matters. For more information, see the list of material issues in Appendix 8.5. In addition, in 2024, training was provided to the Board on the contents of the CSRD and the implications at the Board level and on the Group's management and reporting.

The Sustainability Committee is the body in charge of promoting and coordinating the Company's sustainability actions in accordance with the guidelines approved by the Board of Directors, as well as proposing the adoption of any measures related to the aforementioned matters. Its duties also include implementing and monitoring the Group's Sustainability Plan, as well as reporting on this area.

The Sustainability Committee is also responsible for periodically evaluating the Group's Sustainability Policy so that it complies with its mission of promoting the corporate interest and that it considers, as appropriate, the legitimate interests of the remaining stakeholders.

The most significant activities of the Sustainability Committee in 2024 were as follows: • Monitoring of the targets defined as indicators or KPIs by the Board, the associated action plans, and the resources required to achieve them. • Monitoring of the Non-Financial Statement. • Review of ESG indicators for the calculation of senior management bonuses. • Drafting of a plan to adapt to the Corporate Sustainability Reporting Directive. • Review of sustainability policies.

The Sustainability Committee maintains direct communication with Sustainability Management, which is responsible for establishing the Group's sustainability commitment and strategy. The Sustainability Department reports, at least quarterly, on the degree of achievement of the established targets and the Company's progress on environmental matters, social impact, health and safety indicators, and aspects related to due diligence according to the initiatives implemented by the Group. This is done prior to the publication of the quarterly external reports.

The Sustainability Director is also a member of the Management Committee. This Committee is responsible for the regular review of the Company's strategy and business and investment plans, integrating sustainability into these decisions. In this way, the Sustainability Department maintains regular and direct communication with the various corporate areas that are also part of Acerinox's sustainability strategy.

The Audit Committee also acts as a supervisory mechanism in sustainability matters as it is responsible for the supervision of financial and non-financial information, as well as the Group's risk management and monitoring, which is reported on a quarterly basis. In order to ensure coordination between the two committees, the Chair of the Audit Committee is also a member of the Sustainability Committee.

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

As included in the Regulations of the Board of Directors, the Board on a plenary basis is responsible for approving the company's strategy, the organization for its implementation, as well as the supervision and control of the company's management in order to ensure that it complies with the objectives set and respects the corporate object and interest.

This strategy has been defined by a set of strategic pillars for the company, guided by its material topics and values, and based on operating pillars, sustainability among others. This is how Amadeus embedded sustainability topics, and the related impacts, risks and opportunities, into the core of the strategy, operations, and culture of the Group.

Additionally, the Board of Directors monitors and discusses the progress on sustainability matters at least once a year (through information updates), with the assistance of the Head of the Sustainability Office, in addition to individual updates as deemed necessary by relevant functional owners. Thus, the Board provides feedback that influences the development of relevant sustainability initiatives and, if required, decides upon these matters.

2024 Board Activities In 2024, the Board discussed a broad range of sustainability issues, including a training session, held in October 2024, about the CSRD and the ESRS. During this session, the double materiality assessment process and its results were discussed, among others. Moreover, as previously indicated, the Board constantly monitors sustainability related issues (with annual information updates) as well as Risk and Compliance and Cybersecurity issues (with half-year information updates), among others. Also, training sessions in Artificial Intelligence and Cybersecurity were also held during the year.

Committee Activities Throughout the year, the Audit Committee of the Board has supervised compliance with Amadeus' sustainability strategy and related policies, including the company's sustainability performance. In this regard, it has also included Risk and Compliance matters on the agenda of its ordinary meetings, which dealt in detail with risks, including sustainability related risks and non-financial information risks and control.

As for the Nominations and Remuneration Committee, it has also included matters linked to sustainability in its sessions. In particular, they were mainly related to the analysis of diversity on the Board of Directors (as regards to knowledge, experience, age, gender and competencies of Board members, among others) and related topics.

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.

The material Impacts, Risks and Opportunities (hereinafter, IROs) have been identified using the double materiality analysis and are set out in detail in section 3.3 SBM-3: Material impacts, risks and opportunities and their interaction with strategy and business model. In this respect, the material IROs have been grouped into a total of six topics: Climate change mitigation and adaptation, Energy, Own workforce, Access to products and services and non-discrimination, Cybersecurity and data protection, and Business conduct. In this vein, the Management Committee is the highest level executive committee and is regularly informed of material impacts, risks and opportunities at top-level committee meetings.

The governance process for each of the above-mentioned topics is described below:

Climate change mitigation and adaptation

All matters related to climate change (mitigation and adaptation) are regularly reviewed by the Sustainability Committee. The Management Committee, for its part, engages in regular monitoring of the Sustainable Finance Plan and updates to the regulatory framework.

As for the Board Committees, in relation to that to which each topic refers:

• Board Strategy and Sustainability Committee: Carries out regular monitoring of the Institution's progress in ESG matters through the review of the Corporate Sustainability Report

• Board Risk Committee: One of the main responsibilities of the Board Risk Committee is that of putting forward the proposed Risk Appetite Statement (RAS) to the Board of Directors for its approval. The RAS has been strengthened through the inclusion of new environmental risk metrics linked to credit risk.

• Delegated Credit Committee: Approves or reports favourably to the Board of Directors on decisions concerning credit risk acceptance, ensuring that companies take sustainability indicators into account through ESG guidelines compliance and IRCA ranking.

• Board Audit and Control Committee: Has monitored and analysed the sufficiency, clarity and integrity of all financial and related non-financial disclosures published by the Bank.

• Board of Directors: Responsible for approving the Institution's policies, for establishing principles, commitments and objectives in the area of sustainability, and for including them in the Institution's strategy.

Energy

Compliance with the commitments under the ESG framework, which include those related to the Institution's energy efficiency, is reported to the Sustainability Committee on an annual basis. The Sustainability Committee also validates proposals for improvements to the energy efficiency of the Institution's facilities, while the corresponding budget is approved by the Management Committee.

Own workforce

The top-level committee of the People division is the body in charge of supervising the strategy and direction of decisions that have an impact on staff. The monitoring and control of gender representation and the gender pay gap is a priority for the People division and is regularly reviewed by the unit's top-level committee. The People division conveys outcomes to various forums:

• Board Committees (Board Remuneration Committee, Board Appointments and Corporate Governance Committee, Board Strategy and Sustainability Committee): report on remuneration models and action levers to reduce the gender pay gap.

• Management Committee: validates annual targets for female representation embedded in the sustainability indicator.

• Managerial Performance Evaluation Committee (MPEC) and Divisional Employee Appraisal Committee (DEAC): meet annually to decide on senior management staff changes and verify compliance with gender diversity targets.

Access to products and services and non-discrimination

Before marketing a new product or service, an internal workflow ("Product Workflow") is followed, with validation ultimately ratified by the Technical Product Committee.

Regarding Sogeviso, the Committee for Service Businesses monitors the social support programme and Jobs scheme once a fortnight, tracking management indicators such as labour market insertion rates and social housing rental contract renewals.

Cybersecurity and data protection

The Information Security function sends regular cybersecurity status reports to governing bodies, such as the Management Committee, the Board Strategy and Sustainability Committee and the Board of Directors. For Data Protection, annual plans and semi-annual monitoring reports are submitted to the Management Committee and Board Risk Committee.

Business conduct

The Corporate Ethics Committee (CEC), reporting to the Board of Directors, is ultimately responsible for adopting policies on corporate reputation and ethical behaviour. Its core mission is to promote the ethical behaviour of the entire organisation to ensure compliance with various codes and policies including the Code of Conduct, Internal Code of Conduct relating to securities markets, Corporate Crime Prevention Policy, General Policy on Conflicts of Interest, Anti-Corruption Policy and Policy on Internal Reporting System and Protection of Reporting Persons.

Information Flow to Administrative, Management and Supervisory Bodies

The administrative, management, and supervisory bodies are regularly informed about sustainability matters through structured reporting mechanisms. Specifically, the ESG Strategic Steering Committee, the Executive Committee and the Board of Directors receive comprehensive updates on a regular basis. ESG matters are also addressed in specific management committees such as the Asset and Liability Management (ALM) Committee or the Credit Committee.

The ESG Strategic Steering Committee

To strengthen ESG governance, the ESG Strategic Steering Committee oversees the ESG Programme implementation, which covers all ESG projects at BIL. The ESG Strategic Steering Committee is composed of seven permanent members, all members of the Executive Committee (including four members of the Authorised Management), and the Group Head of Sustainability.

In 2024, the ESG Strategic Steering Committee convened seven times, with one meeting conducted via circular mail.

The Executive Committee

A regular update of the ESG Strategic Steering Committee is provided to the Executive Committee on a quarterly basis. The ESG Dashboard is presented to the administrative, management and supervisory bodies every six months.

The ESG Dashboard provides a comprehensive overview of BIL's climate change impact, emphasising its operational carbon footprint and financed emissions. It also highlights ESG risks and opportunities associated with the Bank's activities that are most vulnerable to environmental and climate-related challenges, including its real estate portfolio, corporate loan portfolio, banking investment portfolio, and customer investment portfolio.

Board of Directors' involvement in ESG matters

The ESG strategy is fully integrated into the Bank's Energise Create Together 2025 (ECT2025) corporate strategy and is therefore monitored by the Board of Directors. Indeed, the Board of Directors defines and oversees the implementation of the ESG strategy: targets and ambitions, risk appetite and risk approach, evolution of sustainable finance initiatives and the progressive integration of ESG considerations in policies and processes.

• A quarterly update on the implementation of the ESG strategy is included in the ECT2025 dashboard and presented to the Board of Directors / Board Strategy Committee.
• A more detailed report on the ESG Programme is presented to the Board of Directors on a quarterly basis. The ESG Dashboard is presented every 6 months.
• The Risk Dashboard is presented quarterly to the Board.

In 2024, BIL's Transition Plan was reviewed and approved in a dedicated meeting with the ExCo and the Board of Directors.

Developing ESG expertise within Governance bodies

To strengthen the governance and to ensure the management bodies have the adequate competencies to address ESG matters, the Executive Committee and Board received regular training on ESG topics. In 2024, the training included:

• A dedicated session on the amendments to the Capital Requirements Regulation (CRR) and the Capital Requirements Directive (CRD)
• A session focused on regulatory expectations related to diversity and best practices in the market
• A session that concentrated on green and transition financing, aligning with BIL's Transition Plan and climate targets

Consideration of Impacts, Risks and Opportunities

The administrative, management, and supervisory bodies at BIL actively consider impacts, risks, and opportunities related to sustainability when overseeing the Bank's strategy, major transactions, and risk management processes. The Board of Directors and the Executive Committee assess how sustainability initiatives fit within the Bank's overall strategy.

ESG risks are incorporated into the Bank's comprehensive risk management framework and are presented through both the ESG Dashboard and the Risk Dashboard. This enables the administrative, management, and supervisory bodies to review ESG-related risks during their regular assessments and to address potential challenges and seize opportunities effectively.

Material Impacts, Risks and Opportunities Addressed

During the reporting period, the administrative, management, and supervisory bodies focused on several short-term material impacts, risks, and opportunities related to sustainability:

1. ESG Training: Implemented training programs to enhance understanding of ESG principles across the organisation
2. Climate Risks and Financed Emissions: Evaluated the implications of climate risks and assessed the Bank's financed emissions
3. Evolution of Investment Decision Processes and ESG Integration: Reviewed the ongoing evolution of investment decision-making processes
4. Regulatory Compliance: Monitored evolving regulations related to sustainability
5. Implementation of ESG MiFID Requirements: Monitored the progress of implementing ESG requirements under the MiFID framework
6. EPC Collection Strategy: Discussed strategies for collecting Energy Performance Certificates
7. CSRD Preparation: Prepared for compliance with the Corporate Sustainability Reporting Directive

As part of the implementation of the new strategy, the Catalysts division was restructured, effective January 1, 2025; as a result, the Surface Technologies segment will now comprise three standalone businesses going forward instead of two. Additionally, the chemical and refining catalysts business, formerly part of the Catalysts division, will be reported as part of the Performance Chemicals division in the Industrial Solutions segment from now on.

We see sustainability as a decisive factor for our long-term business success. Scope 1 and 2 CO2 emissions remain the most important sustainability-related key performance indicator at Group level.

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

Activity of the Corporate Bodies in the area of Sustainability

The Board of Directors has incorporated Sustainability as one of the Bank's strategic priorities and has approved the General Sustainability Policy. The Board of Directors has adopted other specific management decisions in the area of Sustainability, such as:

• The establishment of a strategic indicator for Sustainable Business Channeling, setting a target of 300 billion euros for the period 2018-2025
• Objectives for the decarbonization of the portfolio aligned with the goal of achieving net zero emissions by 2050
• The Investment in the Community of 550 million euros

Supervision and control processes

To supervise and control the execution of the decisions adopted by the Board of Directors in matters of Sustainability, the Corporate Bodies have reports received from both the Global Sustainability Area and the different areas of the Group, which incorporate Sustainability in the reporting of their businesses and activities.

These reports are submitted by the executive areas to the Corporate Bodies based on their competence, on a periodic or ad hoc basis.

In 2024, the Corporate Bodies have periodically received specific reports from the Global Sustainability Area, through which they have been able to monitor the different aspects of the strategy related to Sustainability and the objectives established in this area, as well as the main projects and lines of work of the Group in this area.

Likewise, the different business and global areas of the Group have reported to the Corporate Bodies on their activity, which includes Sustainability as one of its relevant pillars as it is a strategic priority of the organization, giving an account of the initiatives, projects and specific activities developed and the means available to them for the execution of this priority.

Most of the impacts, risks and opportunities derived from Sustainability that are of material importance to the Bank, listed in the "Double materiality analysis" chapter of this Report, have been reported to the Corporate Bodies throughout the year, either specifically or as part of broader reports from the different executive areas of the Bank on Sustainability matters.

Information model

BBVA's information model is characterized by providing the Corporate Bodies with information that is: complete, integral, adequate and consistent. The information model is made up of information from different sources that allows the directors to debate the issues submitted for their consideration within the corresponding Corporate Bodies and to carry out the functions assigned to them.

Directors have, prior to the meetings, the necessary information to be able to form an opinion on the issues that correspond to the Corporate Bodies, being able to request other information and advice that is required for the fulfillment of their functions, as well as request the Board of Directors for the assistance of external experts in those matters submitted to its consideration that, due to their special complexity or significance, so require.

The Executive Board regularly informed the Supervisory Board about all aspects significant to the company in a prompt and comprehensive manner. These included the group's business development, the tense macroeconomic situation and its effects on the realisation of business volume, revenue and results, the further development of the Executive Board and management organisation, possible acquisitions, the financing of acquisitions and current business, future investments, the status of the roll-out of Vision 2030, the Sustainability Strategy and the Diversity Strategy, location issues, opportunity and risk management, the risk situation and fundamental issues of corporate planning and management.

The Chairman of the Executive Board, in particular, maintained close contact with individual Supervisory Board members, and maintained a regular dialogue with the Chairman of the Supervisory Board, even outside the regular meetings. Additionally, the Executive Board informed the Supervisory Board as a whole about key operational indicators, the implementation of business plans and the employment situation of the group, segments and all major subsidiaries on a monthly basis. At quarterly meetings, we also intensively elaborated on the respective past quarter and the short and medium-term perspectives.

At its meetings, the Supervisory Board regularly looked into the business performance of the group as well as the assets and financial position and the implementation of the corporate strategy. Moreover, we continually dealt with the risk situation – especially also in connection with the global crisis hotspots and the related, tense macroeconomic situation – and actively participated in the further development of the control and risk management system of Bechtle AG.

Our Group-wide Corporate Sustainability function is responsible for setting the strategic direction of our sustainability activities and regularly reports to the Executive Board on progress and the need for action. This Corporate Sustainability function reports monthly directly to the Chairman of the Executive Board of Beiersdorf AG, who is responsible for sustainability. The Chief Financial Officer receives quarterly reports on matters relating to compliance and reporting (e.g., the Lieferkettensorgfaltspflichtengesetz (German Supply Chain Due Diligence Act, LkSG), the "Corporate Sustainability Due Diligence Directive" (CSDDD), the CSRD, and the "European Deforestation Regulation" (EUDR)). Meetings are also held with members of the Executive Board, Executive Committee, Supervisory Board and the entire Executive Board, as needed. The Audit Committee receives reports of sustainability matters two to three times per year.

Two cross-functional steering committees oversee the management of material sustainability matters: the Sustainability Council for the Consumer Business Segment and the Global Executive Committee for tesa. The directors of all relevant business units headed by the members of the Executive Board are represented on the Sustainability Council. This committee convenes at least once every quarter. The Global Executive Committee at tesa is composed of the members of the Executive Board and other executives. The committee meets every two weeks; it also discusses sustainability-related topics in the course of its meetings. In addition, the Chief Sustainability Officer reports directly to the Chairman of the Executive Board of tesa.

The following sustainability matters were discussed at Executive Board and Supervisory Board meetings during the reporting year:

• Sustainability reporting

• Human rights risks

• Biodiversity

• Climate change adaptation

• Social protection

• Diversity

• Circular economy

The regular reports on sustainability matters to the Executive Board and the Supervisory Board are intended to ensure that they consider material impacts, risks, and opportunities in their oversight of the strategy, decisions on major transactions, and in risk management, and that trade-offs are dealt with if necessary.

The Executive Board is responsible for ensuring internal control and risk management that is commensurate with the business activities and risk situation. This includes sustainability-related targets relevant to the company. The Executive Board provides the Supervisory Board with regular, timely, and comprehensive reports (approx. three to five times a year and additionally in urgent cases) on all questions of relevance to the company, also regarding sustainability in particular, and explains discrepancies between the actual course of business and the planning and targets.

The Board of Management incorporates various sustainability matters into the decisions taken at its meetings and addresses the material impacts, risks and opportunities associated with the Company's course of business. It also monitors the key sustainability-related indicators and targets as well as department-specific sustainability activities and developments.

The Board of Management regularly discusses:

• Reports related to the latest business developments
• The current market environment, financial and non-financial risks
• The Group risk strategy and the effectiveness of the risk management system
• The development of the workforce, diversity, and ongoing qualification and retraining measures
• Ongoing compliance activities and potential risks
• The implementation status of corporate due diligence requirements relating to respect for human rights and associated environmental standards

Progress Reports: The Sustainability and Mobility function submits progress reports on the BMW Group's overarching sustainability targets to the Board of Management at least three times a year. The targets and measures with regard to reducing CO2e emissions in all scopes, the circular economy, environmental and social standards and social sustainability are presented, and the strategic and operational implementation status is discussed.

Materiality Assessment: The results of the materiality assessment, including the material impacts, risks and opportunities, are presented to the Board of Management by the Group Reporting function for discussion.

Supervisory Board Reporting: At each of its meetings, the Board of Management presents the material impacts, risks and opportunities related to the latest business developments in its report on the current business situation to the Supervisory Board.

Annual ESG Reporting: Every September, the Supervisory Board receives a report from the Chairman of the Board of Management and the Board of Management member responsible for Finance on the extent to which key ESG targets have been achieved. These include targets for:

• Reducing carbon emissions
• The proportion of all-electric vehicles to total deliveries
• The fulfilment of sustainability requirements by suppliers
• The proportion of women in management positions
• The amount of spending on employee training and development

During 2024, 5 meetings of the Board of Directors were held, in which the Board of Directors, among other things:

• examined and approved the preliminary consolidated results for the fourth quarter of 2023 and for the year ended 31 December 2023;
• examined and approved the 2024 budget and the update of the 2024-2026 Business Plan. In this context, in particular, the Board examined and discussed the strategic vision underlying the 2024-2026 Business Plan proposed by the CEO and, in its integrated composition of Executive and Non-Executive Directors, shared and approved this strategy, participating in the definition of sustainable long-term value creation;
• examined and approved the financial statements for the year ended 31 December 2023, preceded by the approval of the impairment test, and also approved the Cementir Group's Sustainability Report - Non-Financial Statement 2023 with the related materiality matrix, the Corporate Governance Report pursuant to the Code and the Remuneration Report;
• examined and approved the quarterly financial results of the Cementir Group and the half-year financial report;
• examined and approved the Internal Audit plan for the year 2025 and the Group's risk assessment, in which the risks associated with the strategy and activities of the Company and its subsidiaries were identified and analysed, in particular the strategic, financial, operational, compliance and sustainability risks, and specific and separate information was provided on the risks related to climate change and the energy transition, which were therefore a further opportunities for discussion and in-depth analysis of sustainability issues within the Board;
• reviewed the performance and procedures of the Board itself and its Committees, assessing their size and composition, also in consideration of professional experience, management expertise, gender;
• verified the diversity targets for 2023 and also defined the diversity and inclusion targets for the Board and senior management for 2024;
• approved the policy for the regulation of lobbying activities and political contribution, the Audit Manual and the Internal Audit Charter, and updated the procedure for handling and disseminating inside information and the Internal Dealing Code.

In line with the suggestions arising from the Board's annual self-assessment, Board meetings were opened with a brief introductory presentation by the Chairman on the current geopolitical situation, strategic issues and/or potential risks facing the Company, as a useful tool to provide Directors with a better visibility and understanding of the Company's business.

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

All members of the Board regularly receive information about the Company's operational and financial development. The Company's strategies are regularly reviewed and evaluated by the Board.

In 2024, our environmental, social, and governance (ESG) program remained on a positive trajectory, adding value to the business by contributing to meeting employee, customer and investor expectations, strengthening our reputation in the ESG space, and managing regulatory and other risks.

Notably, in 2024 we developed a new global ESG strategy that was approved by our board of directors. In line with this strategy, our top three strategic priorities in 2025 will be greenhouse gas emissions and climate-related risk, diversity, equity, inclusion and belonging, and responsible AI.

To evolve and strengthen ESG governance, in 2024 we renamed our Audit Committee to the Audit and ESG Committee, and revised its mandate to reflect this broader scope. The Audit and ESG Committee held a total of 12 meetings between 1 January and 31 December 2024.

The Board conducts a full-day meeting with Management on an annual basis to evaluate the Group's business strategy. During the meeting, clear objectives, strategies, and risk profiles for the Group's business activities are defined in order to create value for shareholders. When carrying out this work, the Board has taken into account financial, social, and environmental considerations.

The Board evaluates these objectives, strategies, and risk profiles at least once a year. The business strategy provides Management with a basis for carrying out investments and other structural measures.

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

Danica has prepared a Process for revision of and reporting on the sustainability strategy and a Process for reporting on carbon sector targets towards 2025 and temperature targets towards 2030 in Danica.

The process description for revision of and reporting on the sustainability strategy comprises an internal and an external track. The internal track covers reporting via a quarterly KPI dashboard, which is distributed to internal stakeholders in Danica. The external reporting includes reporting on the sustainability strategy, which is incorporated in Danica's annual report (CSRD) and interim report. It also includes an annual status report on selected areas of Danica's sustainability strategy in Danske Bank's annual report (CSRD). Both are distributed to external financial stakeholders, but a number of internal stakeholders are also involved.

The sustainability topics that Danica's Executive Board and Board of Directors considered in 2024 included: • Status of the sustainability strategy towards 2025 • Review of Danica's material sustainability risks • Introduction to and presentation of the CSRD project • Inspection of sustainable investments with the Danish FSA • Taxonomy reporting • Responsible Investment Policy, Active Ownership Policy and Sustainability Policy • Climate target status for investments

To support corporate governance, responsible investment decisions, including on climate and environmental risks, are anchored in Danske Bank Asset Management's Responsible Investment Committee, on which Danica is represented by two members, the Chief Investment Officer (CIO) and the Head of Sustainability. The Responsible Investment Committee's work is agreed with Danske Bank's Business Integrity Committee and supported by the work of Danske Bank's ESG Integration Council, which includes representatives of Danica's investment and sustainability team. Day-to-day ESG decisions are anchored in Danica's Investment Committee and Product Committee. Moreover, Danica has set up a knowledge-sharing forum in order to ensure a strong approach to compliance with statutory requirements and to facilitate the implementation of the sustainability strategy across the organisation.

Information Provided to Governance Bodies: Danone's administrative, management and supervisory bodies receive comprehensive information on sustainability matters through structured reporting mechanisms:

Risk Management Reporting: The most significant risks, including sustainability-related risks, are reviewed during specific meetings of Country Management Committees and presented to the Executive Committee annually. The Head of Company Strategy presents major risks and risk mitigation plans to the Executive Committee, Audit Committee, and Board of Directors.

Strategic Risk Monitoring: The Company Strategy Department coordinates risk identification and monitoring processes, providing regular updates on:

• Strategic risks including packaging, consumer preferences, and climate change impacts
• Environmental risks such as raw materials volatility and climate change
• Operational risks including cybersecurity and food safety

Sustainability Performance Tracking: The governance bodies receive regular reporting on:

• Danone Impact Journey progress and milestones
• B Corp™ certification status (92.8% of sales covered in 2024)
• Health Star Rating performance (87.7% of sales rated ≥ 3.5 stars)
• Global Access To Nutrition Index ranking (1st place in 2024)

Climate-Related Disclosures: The Board receives updates on climate risks and opportunities assessment, updated at the beginning of 2025, covering both physical and transition risks aligned with TCFD framework.

Frequency and Format: Sustainability matters are addressed through:

• Annual strategic planning cycle integration
• Regular Risk Committee meetings throughout the year
• Annual presentations to Executive Committee and Board of Directors
• Ongoing monitoring through Country Business Unit reporting

The Board of Directors, its committees and the Management Team regularly discuss reviews of various aspects of sustainability, which are presented by the Group's experts and operational management. Through these reviews, Digia's senior executives learn about the most material impacts, risks and opportunities associated with the company's sustainability, as well as the company's progress towards its sustainability targets and its sustainability-related projects. The Board discussed sustainability at five of its meetings in 2024. At Audit Committee meetings, experts and senior executives present information for the committee to review: sustainability themes, target attainment, development plans, and development measures and their implementation. The outcomes of the Group's risk management (including sustainability risks) are presented to the Audit Committee twice a year, along with any reports of potential misconduct that have been made through the Whistleblowing channel.

During 2024, the following sustainability-related material risks, impacts and opportunities were reviewed at meetings of the Board of Directors and its Committees:

Impacts • Trends in Digia's CO2 emission targets and measures to achieve them. • Value chain emissions: the accuracy of Scope 3 data and a development plan. • The competencies and resources required to meet stakeholder requirements and carry out actions arising from sustainability regulation. • An overview of challenges facing the workplace community and any necessary development measures (mental health, equal treatment).

Information provided to and sustainability matters addressed by the Board

The Board of Directors has set up four internal committees, with preparatory, consultative and advisory functions: the Control and Risk Committee, the Remuneration Committee, the Nomination Committee and the Sustainability and Scenarios Committee, which report, through their respective Chairmen, at each meeting of the Board on the main issues examined.

Integrated Risk Management Process

The IRM function presents the relevant results to the CEO, to the Control and Risk Committee, as well as, where required, to the other control and supervisory bodies at least quarterly. The CEO submits the results of the analysis on Eni's main risks to the Board of Directors at least quarterly.

Governance attributes a central role to the Board of Directors (BoD) which defines, on the basis of the analyses proposed by the Chief Executive Officer (CEO) and with the support of the Control and Risk Committee (CCR), with reference to the four-year Strategic Plan, the nature and level of risk compatible with the company's strategic objectives, including in its assessments all the elements that may be relevant with a view to the sustainable success of the company.

Board Committees' Role

Control and Risk Committee: With reference to the composition of the Control and Risk Committee, Eni requires that at least two members shall have appropriate expertise and experience with accounting, financial or risk management issues, exceeding the Recommendation of the Governance Code which recommends only one such member. As of May 11, 2023, the Board of Directors assessed that 3 out of the 4 members of the Committee, including the Chairman, have the appropriate experience.

Sustainability and Scenarios Committee: The Board has established this committee to address sustainability matters and scenarios.

ESG and Sustainability Skills Development

The Directors' skills on ESG and sustainability, among others, have been further strengthened through a structured induction program launched at the beginning of the mandate and extensively developed in 2024.

The work of the Committees and the Board in 2024

The Board relies on the work of four Committees to carry out its duties. During the 2024 financial year, the work more specifically involved:

Board of Directors

In 2024, the Board of Directors continued to pay particular attention to the implementation of the Group's strategic changes and the monitoring of its strategic growth projects (in particular the start of production of the Centenario lithium plant in Argentina).

CSR and Strategy Committee

10 members, including 3 independent members 4 meetings Chair: Miriam Maes

The Committee assists the Board in determining the Group's strategic lines of action in terms of CSR, in particular by monitoring of the CSR Roadmap and the achievement of its objectives. It reviews developments taking place in the Group's markets and the resulting strategic options. In 2024, together with the Audit, Risks and Ethics Committee, it monitored the preparation of the first report on the Group's sustainability information.

In 2024, the committee, with the support of the CSR and Strategy Committee, paid particular attention to monitoring the preparation of the first report on the Group's sustainability information.

Audit, Risks and Ethics Committee

6 members, including 4 independent members 4 meetings

In addition to monitoring the financial reporting process, the Committee also monitors the main risks and implements the appropriate risk management plans.

Appointments Committee

4 members, including 2 independent members 3 meetings Chair: Ghislain Lescuyer

The Appointments Committee leads the process of proposing new directors for appointment by the Board. The Committee conducts an annual review of the independence criteria for independent directors and of the succession planning for key Group management personnel.

Compensation and Governance Committee

6 members, including 3 independent members 3 meetings Chair: Ghislain Lescuyer

The Committee conducts an annual review of the collective criteria for variable remuneration of management executives and the executive corporate officer. It also proposes the terms and conditions of the performance share award plans for the Group's main management executives.

Information for the Supervisory Board

Various organisational processes ensure that the ­E xecutive Board is informed of important feedback from stakeholders. The quarterly steering committee meetings, which cover all segments as well as sustainability and public affairs, and the project steering ­committees are used for this purpose. These committees include the Executive Board as well as management ­from the respective areas.

Due diligence audits based on ecological and social aspects are integrated in the early phase of construction projects. They cover internal decisions as well as project approval by the Executive Board or – for larger projects – approval by the Supervisory Board.

In addition to the continuous exchange with internal experts, our Executive Board and Supervisory Board can draw on several advisory boards in which external experts from various disciplines contribute their expertise and outside perspectives on the ESG aspects of our activities. The high relevance of ESG issues and the strengthening of sustainability expertise is reflected in the inclusion of a sustainability expert in the Audit Committee of the Supervisory Board.

As previously mentioned, both the Executive Board and the Supervisory Board receive regular information and, at the same time, training on sustainability issues. This information transfer and training also takes place as part of a regular series of events entitled "Supervisory Board Special" in which internal and external experts lecture on key topics.

The Supervisory Board plays an important role in ­sustainability reporting. Quarterly and annual reports are presented to the Audit Committee and the full Super­visory Board prior to publication and discussed by the Executive Board and Supervisory Board. The Remuneration Committee is responsible for monitoring the achievement of sustainability targets in connection with remuneration policy, remuneration practices and remuneration-related incentive structures. In addition, the Executive Board provides the Supervisory Board with up-to-date information on ESG issues at every meeting. The content is presented primarily by the Executive Board, if necessary with the support of internal experts. The Supervisory Board is also able to contact internal experts at any time for additional information apart from the scheduled meetings.

The F-Secure Board has ESG on the agenda at minimum once a year, while during 2024 the F-Secure Audit Committee had ESG on the agenda in 4 out of 5 meetings. Updates on ESG topics to the Board, the F-Secure Leadership team, and the Audit Committee have been presented by the SVP of Corporate Development responsible for creating and implementing F-Secure ESG plans, policies and targets and report on their progress as well as implementation of due diligence, based on input from the ESG Council and its members.

The F-Secure ESG Council typically meets monthly including the CFO, CPO, Legal Counsel, SVP of Corporate Development, and the ESG function lead reporting to the SVP of Corporate Development. In addition, the ESG Council includes participants from other functions for further collaboration like sales and product management while the ESG Committee leads provide updates on progress, when topical. Moving to 2025, Committees will also participate in the bi-annual assessment of the DMA/IROs and will track the effectiveness of actions and metrics related to them.

Consideration of IROs when overseeing company strategy and risk management

Sustainability-related risks and adverse impacts are managed as part of F-Secure's risk management process. In short, the primary goal of F-Secure's risk management policy is to enable the organization to identify and manage risks more effectively. The risk management process monitors the potential negative impact and likelihood of various situations arising from the company's operations, its markets, its customers, or its partners.

F-Secure encourages continuous risk assessment by the company's personnel. The relevant operational risks identified through the risk management process are regularly reviewed by each function, including the twice-a-year review with the President and CEO, the Leadership Team, and the Audit Committee. Positive impacts and opportunities, on the other hand, are embedded into the strategy process and considered when reviewing F-Secure's operating plans and related objectives, developing plans and allocating resources to execute said plans.

Evaluating trade-offs related to IROs is an important part of the strategy process, as it involves making decisions about where to allocate resources and prioritize initiatives. This involves weighing the costs and benefits of different options and making choices that align with the organization's overall goals and stakeholder expectations. This ensures that trade-offs are considered relative to the company objectives, while weighing the potential risks and opportunities associated with different options.

Furthermore, during 2024, updates on the DMA including IROs have been presented to the ESG Council and Audit Committee. These impacts, risks and opportunities include topics listed below and are addressed by the administrative, management and supervisory bodies described earlier:

• Protecting consumers' digital moments • Attracting, developing, and retaining talent • Company working conditions and employee well-being • Critical strategic competencies and DEI (equal treatment and opportunities for all) • Privacy and security related to, e.g., how we use and protect consumer or partner data • Cyber security threats related to end-customers, partners, and our operations • Business-conduct topics including anti-bribery, anti-corruption and whistleblowing channels • Development and launching of a new company culture • Climate change mitigation risks, roadmap and strategy

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

ESG organisation

In response to the broadly based environmental, social, and governance aspects and to improve their presentation to stakeholders, at the start of 2022 Frequentis pooled its expertise in these three areas in a Group-wide ESG organisation. As a representative of the Executive Board, CFO Peter Skerlan bears executive-level responsibility for ESG topics. This was defined by the Supervisory Board at its meeting on 30 March 2022 in the rules of procedure for the Executive Board of Frequentis AG.

The interdisciplinary ESG team is coordinated by an ESG Steering Group, which involves and works closely with the Executive Board. Alongside the CFO, the members of the ESG Steering Group are the staff responsible for environmental, social, governance, and compliance aspects and the ESG Group Coordinator. The ESG team maintains regular contact with Frequentis' stakeholders.

Specific projects are analysed, prioritised, and driven forward at a monthly jour fixe. Current sustainability measures are continuously examined and modified, and new sustainability projects are initiated as necessary. At the annual ESG management review led by the CFO, the past year's ESG activities and ESG indicators are discussed and actions to achieve targets and further improvements are defined.

The CFO and the members of the ESG Steering Group regularly attend specialist congresses and events to network with experts and enhance their knowledge. Reading relevant literature is also very important. The knowledge gained in this way is shared widely within Frequentis. This ensures that the company always has up-to-date knowledge of the fast-changing fields of sustainability and transparent ESG reporting.

The Executive Board and Supervisory Board, as the highest governance bodies, support all measures. The Supervisory Board regularly considers ESG topics and ESG is a recurrent item on the agenda for Supervisory Board meetings.

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

There was an update on opportunity and risk management, compliance, and the results and recommendations of the internal audit. The Supervisory Board was informed about the current status of the implementation of the CSRD at FUCHS. It also dealt with the procedure and the assessment of the effects, risks and opportunities in accordance with the CSRD. Additionally, an update was given on the company's sustainability strategy.

The Supervisory Board established the sustainability factor for the Executive Board's variable compensation for the financial year 2024. It also decided on the criteria for measuring the sustainability factor for 2025 and the target total compensation for 2025.

The committee focused on the annual financial statements and the audit of the annual financial statements of FUCHS SE and the consolidated financial statements together with the Combined Management report, the non-financial declaration, the Compensation Report, the requirements of the CSRD on sustainability reporting and compliance issues.

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

Throughout 2024 the board has been presented quarterly sustainability reports with a focus on stats for goal attainment, effects and new measures. The board has broad sustainability experience, and has completed courses and certifications. We have prepared a double materiality assessment that has been discussed by the sub committees of the board throughout the year.

The Board has overall responsibility for ensuring that the Group is managed responsibly, including responsibility for strategy, finances, the environment, social conditions and compliance with laws and regulations. This includes ensuring that the work on risk management and internal control is organised, documented and reported on in an expedient manner.

Committee Responsibilities

THE AUDIT COMMITTEE: Reviews quarterly sustainability report, internal control over non-financial reporting, sets materiality threshold and reviews the double materiality analysis. The committee determines the process for processing the annual report, including the sustainability report, and pre-processes the report for decision by the board.

THE RISK COMMITTEE: Reviews proposals for sustainability targets, discusses identified influences, risks and opportunities, and ensures that risk appetite includes sustainability topics and risk exposure.

THE ORGANISATION AND REMUNERATION COMMITTEE: Prepares the scorecard for the CEO, where the operationalization of several sustainability topics occurs and is measured. The Committee shall provide advice on matters relating to remuneration, and annually discuss with the CEO principles and specific frameworks for determining the remuneration of other senior executives.

Information Provided to Administrative, Management and Supervisory Bodies

Risk Reporting to the Board

The Board of Directors receives comprehensive information on sustainability matters through GN's risk management process:

• Annual Risk Review: A comprehensive risk report, reviewed and prioritized by the Executive Leadership Team, is presented to the Board of Directors annually for approval
• Top Risk Review: The Board conducts an annual Top Risk Review in December
• ESG Risk Integration: Environmental, social, and governance risks are integrated into the overall risk assessment process

Executive Leadership Team Engagement

The Executive Leadership Team meets to collectively challenge, validate, and prioritize risks and risk handling activities, including sustainability-related risks. This information is then consolidated and presented to the Board.

Audit Committee Oversight

The Audit Committee reviews the Organization Risk Governance process, ensuring proper oversight of risk management including sustainability matters.

Sustainability Strategy Communication

The Board and management receive information on GN's sustainability strategy, which focuses on three key areas where GN has the most impact:

1. Sustainable design – developing product designs that impact the experience of products, not the environment
2. Decarbonization – reducing carbon footprint as fast as the science tells us
3. Supply chain responsibility – safeguarding human rights across the full value chain

Hilti's Board of Directors is the supreme executive body within the Hilti Group and is responsible for superintendence, supervision and control of the management. It adopts the fundamental strategic direction for the Group, including sustainability as a key component. As such, it also oversees the establishment of targets for, and the management of, the Group's material IROs. At least annually, the Board of Directors reviews the effectiveness of the Group's actions in addressing these IROs and achieving the associated targets. The Head of Corporate Sustainability hosts these IRO review meetings with the Board of Directors.

The Executive Board reports to the Board of Directors. It is responsible for implementing the Group's strategy, including sustainability as a key element. As such, the Executive Board is involved in setting targets and managing the Group's material IROs. It has direct responsibility for the Group's climate change, human rights in the value chain, corporate culture and supplier sustainability efforts. The responsibility for other material IROs is delegated to senior management. The Head of Corporate Sustainability organizes and coordinates at least one IRO review meeting a year for the Executive Board and senior management. These meetings serve as the basis for preparing the review of the material IROs with the Board of Directors.

The Supervisory Board was regularly informed about sustainability matters through various channels:

• The Audit Committee specifically addressed the requirements of the Corporate Sustainability Reporting Directive (CSRD) for non-financial reporting
• Current business performance, liquidity management, and risk assessment were regularly discussed at Supervisory Board meetings
• The combined non-financial statement for 2024 and the independent auditor's limited assurance report were discussed by the full Supervisory Board on March 12, 2025
• The Supervisory Board received comprehensive reports on the contents of committee meetings, including those covering sustainability-related topics
• Regular detailed reports were provided on compliance matters and risk management, which encompass ESG risks
• The Supervisory Board focused on the Company's strategic execution including sustainability elements of the 'CLAIM 5' strategy

KONE's Global Compliance Committee, which comprises four Executive Board members, the Corporate Controller and VP, Global Compliance, assists the Executive Board in ensuring that KONE has an effective program to conduct business in an ethical and compliant manner. The Global Compliance Committee has expertise in topics critical to compliance, and provides advice to the Executive Board, management and audit committee in meetings and through reports. The Audit Committee monitors compliance matters which are reviewed by the Board of Directors at least annually.

The Executive Board reviews and evaluates the risk assessment results minimum twice a year and agrees on risk management priorities. The Executive Board and the President and CEO receive updates on material IROs or other relevant risk assessments bi-annually by the global risk management function. The Board of Directors are informed on the material risks and opportunities on an annual basis by the General Counsel.

The Board of Directors monitors and evaluates the effectiveness of KONE's risk management systems according to their role defined in KONE Risk Management Policy, in addition to the review of key risks and action plans. The Board's Audit Committee monitors the efficiency and functioning of the internal control environment, including internal controls over sustainability reporting. The Board's Audit Committee is informed on internal control findings on an annual basis.

As a result of regular reporting by Corporate Sustainability, all members of our Executive Board have knowledge of sustainability issues. The Executive Board is provided with quarterly updates on progress towards the sustainability targets. Sustainability priorities are an integral part of Executive Board decision-making. The Executive Board sets the targets and monitors sustainability performance. The Supervisory Board monitors implementation of the sustainable corporate strategy and compliance with regulatory requirements.

The Executive Board holds coordination meetings on sustainability topics at six-weekly intervals so as to bring the management of our sustainability targets into the top tier of company leadership. Progress in target achievement is monitored and assessed on a quarterly basis as part of reporting to the Executive Board. In this reporting, the twelve sustainability key performance indicators are tracked and strategic decision papers formulated regarding the company's sustainable development. The reporting includes detailed information on how the targets are monitored, an assessment of whether progress is in line with the targets as originally planned and an analysis of trends or significant changes in performance.

The Supervisory Board is also informed of the findings via the Executive Board's regular reporting. The management and supervisory bodies are briefed on stakeholder interests in reports and meetings to ensure that those interests inform strategic decisions.

The results of the materiality assessment and risk analysis are communicated and validated annually with the Positive Impact Executive Leader. The Positive Impact Executive Leader then communicates the publication of the sustainability information to the Executive Leader Team. Finally, the Board of Directors also approves the information included in the report annually.

In 2024, while topics related to impacts, risks, and opportunities have been addressed in the oversight of the company's strategy and decision-making, they have not been explicitly addressed as part of the dual materiality process. This is because this is the first time this methodology has been applied.

Material impacts, risks and opportunities addressed by governing bodies:

Board of Directors and/or Audit Committee:

• Impacts: Contribution to the protection of working conditions and human rights in the value chain through audits and internal control; Protection of sustainability and ethical principles in the value chain through audits and internal control
• Risks: Inadequate management of ethical alerts or complaints
• Opportunities: A culture of ethical and responsible conduct in the company that strengthens its reputation among stakeholders

Steering Committee:

• Addressed extensive list of material impacts, risks and opportunities across ESG topics including working conditions, customer experience, climate change, cybersecurity, and business conduct

Information provided to the Board on sustainability matters

The Board of Directors receives comprehensive information on sustainability matters through multiple channels:

Regular reporting mechanisms:

• Quarterly business reviews include sustainability KPIs and performance updates
• Annual sustainability strategy reviews and target-setting sessions
• Deep-dive presentations on material sustainability topics including climate, patient access, and business ethics
• Reports on regulatory developments including CSRD implementation

Sustainability information provided includes:

• Progress on Science Based Targets initiative (SBTi) climate commitments
• Patient access metrics and programs in low- and middle-income countries
• Workplace safety incidents and health & safety performance
• Business ethics compliance including Code of Conduct training completion rates
• Supply chain sustainability assessments and due diligence results
• Regulatory compliance status and any material violations

Board oversight of material topics:

• Climate change: Board reviews annual GHG emissions data, progress on reduction targets, and climate transition plan implementation
• Patient access: Oversight of global access programs, pricing strategies, and health equity initiatives
• Research ethics: Review of clinical trial diversity, patient safety protocols, and ethical research practices
• Business conduct: Monitoring of anti-corruption measures, political activities, and supplier relationships

External assurance: The Board receives reports on limited assurance provided by external auditors on selected sustainability data points to ensure data quality and reliability.

Sustainability matters are integrated into Board oversight and decision-making processes. The Board receives regular updates on sustainability performance and climate-related matters. In 2024, sustainability was a key focus area with the company's carbon handprint and footprint targets being integrated into strategic planning. Information on sustainability matters addressed by the Board can be found in the governance sections.

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

ESG and sustainability priorities are embedded in the Board of Directors' decision-making processes. The Board receives annual updates on our sustainability progress and a comprehensive report on the year's achievements, and the board is responsible for utilizing the result of the double materiality assessment to guide the process of setting targets in relation to material impacts, risks and opportunities where relevant.

Sustainability Committee

There is a sustainability Committee headed by Senior VP, Commercial excellence & sustainability and includes our Group CFO. The Committee comprises of sustainability ambassadors appointed from each region where NNIT has office and also includes stakeholders from facility management, HR, Finance, Legal. The Committee meets once every quarter to discuss the ESG strategy, impacts, risks and opportunities, targets and action plans for each of the parameters of E, S and G. The Group CFO who is a member of the Sustainability Committee reports to the Audit Committee for matters related to sustainability. The Sustainability Committee provides quarterly updates to the Group CFO ensuring regular monitoring and oversight.

Audit Committee

The Audit Committee oversees the Enterprise Risk Management (ERM) process and the handling of the overall sustainability related activities on behalf of the board. The Audit Committee (AC) consist of at least two members, elected among the members of the Board of Directors. The AC is responsible for the on-going dialogue with the external auditor and facilitates exchange of information between the Board of Directors and NNIT's external auditor. In addition, the Audit Committee is also responsible for oversight of impacts, risks and opportunities for sustainability reporting as per CSRD and make suggestions to the Board. The Audit Committee reports to the Board which serves as managing, supervisory and administrative body for reporting outcomes.

In 2024, Novabase Group continued to prioritize Sustainability and include it in its strategy.

The company maintained its Sustainability Committee, which is supervised by a Director, and it is considered highly relevant when it comes to decision-making.

The Board of Directors is informed at least quarterly with respect to the development and implementation of policies, actions and meeting sustainability targets.

Board members receive regular briefings and trainings on ethics, risks and compliance, ESG and other relevant topics. In 2024, topics covered included the US healthcare ecosystem, our updated Code of Ethics, and data ethics and information management.

The Board of Directors is subject to an annual self-assessment; every third year, this assessment is carried out by an external consultant.

Board highlights for 2024

During 2024, the Board of Directors discussed strategic, operational and financial issues:

• Oversaw the company's strategy to deliver high-value medicines that alleviate society's greatest disease burdens through technology leadership in R&D and novel access approaches

• Reviewed the development of the talent pipeline in the context of strengthening the Company's foundations

• Discussed longer-term Board succession planning and required profiles, including the nomination of a new Board Chair and a new Board member for election at the 2025 AGM

• Reviewed strategic considerations around mergers and acquisitions (including the acquisition of Mariana Oncology and MorphoSys), and the Company's larger strategic moves to drive sustainable growth

• Discussed updates from the US, International and Operations units

• Reviewed the Research Development Commercial Continuum Execution and the focuses and priorities of the different therapeutic areas

• Discussed the Company's ESG strategy, plans and developments, including updates on nonfinancial disclosure regulations and the nonfinancial reporting governance of the Company

• Discussed and reviewed the annual Board self-evaluation including the 2023 in-depth exercise performed by the external firm Egon Zehnder

• Discussed and assessed the geopolitical situation, with a special focus on the impact of the US election

• Received an update on the Southern Europe, Russia & Central Europe Cluster Business and the Company's strategic ambitions and technology platforms in Slovenia

A comprehensive report by the Executive Board on business development and current topics, as well as reports from the committees, were a fixed component of every regular Supervisory Board meeting.

Feedback from investors plays an important role in the work of the Supervisory Board. As in previous years, the exchange between investors and the Supervisory Board was strengthened again in February 2024 at the Corporate Governance Roadshow. During numerous virtual and in-person meetings in Vienna and Frankfurt, I was able to answer questions from investors and proxy advisors on governance topics.

In 2024, bespoke training courses were held again for the Supervisory Board, with a particular focus on sustainability reporting requirements and information security.

The Board of Directors oversees our risk management in general and have delegated the oversight of our enterprise risk management risks to the Board's Audit & Risk Committee. The Board of Directors has established an Asset Project Committee, which has regular updates on project execution and monitoring of risks as its key focus.

The Board held nine meetings in 2024. Its primary focus was to navigate Pandora carefully through uncertain macro-economic circumstances, including the implications from increased commodity prices and complex socio-political environments. Additionally, the Board ensured Pandora remains aligned with the next phase of the Phoenix strategy, announced during Pandora's Capital Markets Day in October 2023, which focuses on transforming the company into a full jewellery brand. Furthermore, the Board has overseen the integration of sustainability into relevant processes in Pandora, ensuring alignment with our strategic priorities and the sustainability targets.

Sustainability integration and governance Sustainability is deeply integrated in our strategic direction and how we conduct business. It is governed at the highest level by the Board, which approves Pandora's climate transition plan. Responsibility for the execution of the strategic sustainability priorities is delegated to Pandora's Sustainability Board. The Sustainability Board is responsible for the strategic priorities and integrating sustainability into business decisions and processes within their respective functions. Reporting to the ELT, and in some matters directly to the Board, the Sustainability Board is chaired by Pandora's Chief HR Officer and consists of nine senior leaders, including ELT members.

Two subject-specific committees (the Responsible Sourcing Committee and the Responsible Marketing Committee) and two task forces (Low Carbon & Nature Task Force and Corporate Sustainability Reporting Directive (CSRD) Task Force) oversee key sustainability areas on responsible sourcing, responsible marketing, our work on environmental impacts, CSRD implementation and compliance within the company. They convene regularly and report to the Sustainability Board. In 2024, we updated our double materiality assessment, as part of the requirements of the CSRD. The double materiality results were approved by Pandora's Sustainability Board, with the Board providing oversight to ensure alignment with strategic goals.

In 2024, the Audit Committee of the Board of Directors discussed the progress of identifying and assessing sustainability impacts, risks, and opportunities in each of its four meetings. This included reviewing all impacts, risks, and opportunities as a whole. As the setting of targets, metrics and measures related to the impacts, risks and opportunities is still in progress, oversight processes have also not been specified and they are not regular items on the agenda of the Management Team or the Board of Directors. The integration of sustainability-related impacts, risks and opportunities into Qt's risk management process has begun, but in the reporting period 2024, the administrative, management and supervisory bodies have not separately taken into account identified sustainability matters as part of strategic decisions. Qt has not yet systematically built a due diligence process, and its implementation has not been included in the agenda of the administrative, management and supervisory bodies.

The Audit Committee has also discussed matters related to the company's own workforce (S1), business conduct (G1), and data protection on its agenda.

The company has established structures to address sustainability matters through its governance bodies. Randstad's sustainability framework helps structure the sustainability strategy and reflects the commitment to addressing societal needs by focusing on three key pillars: promoting a fair labor market, fostering equity at work, and supporting the green transition.

Through daily interaction with clients and talent, and continuous dialogue with governments, employers and labor organizations, the company's ambition is to contribute to global societal needs positively. The commitment to social responsibility sets a standard for others to follow.

Randstad is strongly committed to equity, supported by a global Equity Committee, which acts as an internal executive advisory board. The Equity Committee and Executive Leadership Team are responsible for driving and promoting inclusive leadership behaviors at Randstad.

The Board of Directors has established specialized committees to address sustainability matters:

Sustainability Committee: One of the five specialized committees of the Board, dedicated to sustainability oversight and governance.

The governance structure adequately differentiates governance and management functions from oversight, control, and strategic definition functions, ensuring proper information flow on sustainability matters to the Board.

The Board's composition includes a Lead Independent Director (Mariano Marzo Carpio) and maintains a high proportion of independent directors (73.3%) to ensure effective oversight of sustainability matters.

Information provided to the Supervisory Board

During the reporting period, the plenary of the Supervisory Board intensively dealt with the political and economic environment of the company in five regular and five extraordinary Supervisory Board meetings. In addition to the development of the Rheinmetall Group as a whole, the focus of our attention was in particular the development in the divisions and ongoing projects in the Group.

The Supervisory Board received differentiated reports of the Executive Board and other executive officers of the company, which were made in written and oral form. We received the documents for the preparation of our meetings in a timely manner and thus always had sufficient space to critically acknowledge the reports, presentations and proposed resolutions in the plenary and in the committees.

Using this detailed information, we intensively discussed the company's operational, economic and organizational development and its strategic development. At the Supervisory Board and Committee meetings, the Executive Board explained all relevant matters and fully answered our questions.

Committee Activities

The Strategy, Technology and ESG Committee met in March and August during the reporting year. The Committee specifically addressed ESG issues, including, but not limited to, the Corporate Sustainability Reporting Directive (CSRD), the reporting obligations associated therewith, conducting a double materiality analysis to determine the relevant factors and aligning the ESG strategy with the company strategy.

The Audit Committee met in March, May, August, November and December. The Committee was informed about the status of the preparations for the holding of the Annual General Meeting and the dividend proposal. The audit focus of 2024 was explained, including the new requirements by the implementation law on CSRD.

During the year, the members of the Audit Committee were also informed in the meetings by executives of the company on the corporate function Legal, Corporate Sustainability Responsibility (CSR), Compliance and Tax Compliance, Risk Management and Internal Audit in the Rheinmetall Group.

Meeting attendance

At 97%, the participation rate of the members of the Supervisory Board in the consultations in the plenary and in the committees was again at a high level.

Information provided to governance bodies

The Corporate Sustainability Steering Committee is responsible for assessing social, environmental, economic and governance trends that could impact our business. This is achieved through our business environment risk and opportunity assessment process.

We identify long-term business environment trends and the associated risks and opportunities on an annual basis, and integrate these into our Group risk management process. Each year, emerging trends (and their associated risks and opportunities) are identified from internal and external sources and are reviewed by selected internal stakeholder groups. Our Corporate Sustainability Steering Committee then evaluates and selects the ten trends most relevant to Roche.

Roche's top ten business environment trends in 2024:

1. Accelerated technological transformation
2. Increase in infectious diseases and chronic and mental illnesses
3. Progressing cyberdependency and vulnerability
4. Lasting economic instability
5. Political complexity and geoeconomic confrontations
6. Societal crises
7. Growing need for climate change adaptation
8. Accelerated spread of mis- and disinformation
9. Healthcare evolution challenged by its affordability
10. Future of work

The Board of Directors annually reviews a consolidated Group Risk Report covering all material risks and opportunities, which is discussed with the Corporate Executive Committee.

The Supervisory Board regularly assesses how effectively it performs its tasks overall and the effectiveness of its committees. In the financial year 2024, this self-assessment took place with the aid of an external consultant by way of a survey directed at members of the Executive Board and the Supervisory Board.

The Executive Board regularly reports on general developments of significance and progress in the area of sustainability, since May 2024 at each regular meeting of the Supervisory Board. Regarding these sustainability issues, the SALCOS® program that is geared to the company's virtually climate-neutral steel production forms the centerpiece of this work.

The compliance management system and investigated compliance activities are regularly debated at the Supervisory Board plenum's autumn meeting, prepared beforehand by the Audit Committee's in-depth deliberations on this topic.

Engagement of the Board with Committees and working groups on (i) material IROs; (ii) implementation of due diligence; and (iii) results and effectiveness of policies, actions, metrics and targets

The Board of Directors validates the Company's overall strategy, scrutinizes its implementation and regularly monitors delivery. As part of this role, it is informed of all material CSR impacts, risks and opportunities and directly engages with the committees in charge of implementing the relevant policies and action plans, monitoring their effectiveness, as well as Sanofi's progress towards meeting its targets.

Regarding environmental IROs, the Board is kept up to date on the progress on Sanofi's Planet Care program and reviews the climate transition plan at least once a year. This oversight role is supported by the Appointments, Governance and CSR Committee within the Board of Directors, which meets every quarter with the Global Head of CSR.

The Planet Care Impact Steering Committee oversees Sanofi's transition efforts. It presents to the Executive Committee the Company's strategic priorities and commitments related to environmental risks, impacts and opportunities. The Executive Committee approves and ratifies these proposals for implementation.

For climate-related IROs, the Climate-related Risk & Opportunities Committee (CROC) oversees Sanofi's adaptation efforts, which are quarterly monitored at Executive Committee level via the Head of Corporate Affairs (member of the Sanofi Executive Committee). The Global Head of CSR informs the Board and its committees of the implementation of policies and action plans, and of progress towards meeting their targets for managing material IROs.

Regarding social and societal IROs, the Chief People Officer, a member of the Executive Committee, meets the Board regularly to discuss the People & Culture agenda, particularly when co-creation, review and decisions are needed to move forward.

The Ethics & Business Integrity function forms the cornerstone of Sanofi's efforts to promote and instill ethics and integrity in all of its activities. It works closely with other departments such as Internal Control and Processes, Internal Audit and Risk Management, Global Quality, Procurement, People & Culture, HSE, and CSR. The Head of Ethics & Business Integrity has a double reporting line — to the General Counsel and to the CEO — and meets periodically with the Audit Committee and/or the Board and external auditors.

How the Board and its committees take into account IROs when overseeing the strategy, major transactions and the risk management process

The Board and its committees reviewed several material IROs during the period. The Board and the Executive Committee engage regularly with the Global Heads of CSR, HSE, Ethics & Business Integrity and with the Chief People Officer. The Executive Committee also gives consideration to the reports and proposals from the Planet Care Committee and the CROC. Below is a list of material IROs addressed between January 1, 2024 and December 31, 2024:

Sanofi conducted its double materiality assessment at group-level in accordance with the CSRD and related methodology established by EC, EFRAG and other guidance - refer to the CSRD Disclaimer and Explanatory Note.

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

The Supervisory Board received regular, full, and timely reports from the Executive Board, both from members in person and in written documents. The Supervisory Board and its various committees were also in regular exchange with senior internal officers. This ensured that they were always up to date, also between meetings, on the Company's strategy, planning, business performance, risks, risk management, compliance, and on transactions of special significance for SAP.

In its reports, the Executive Board advised the Supervisory Board about any deviations in business performance from the budgets or targets set, and explained the reasons for them. The Supervisory Board questioned and probed the Executive Board on its reports to satisfy themselves that they were plausible.

The Supervisory Board chairperson and the CEO were in regular contact, such that the Supervisory Board chairperson was always informed without delay about all material events. Moreover, the chairperson of the Supervisory Board and the CEO regularly discussed SAP's strategy, business performance, risk position, risk management, and compliance.

Sustainability Matters

Throughout the year, sustainability topics were discussed at the meetings of the full Supervisory Board and at those of the various committees. The Audit and Compliance Committee looked closely at the new European Corporate Sustainability Reporting Directive (CSRD), which obliges companies to meet new, more detailed, sustainability reporting standards.

The Committee and the Supervisory Board were informed about the process used to identify, assess, and manage the impacts, risks, and opportunities (IROs) related to sustainability. At the meeting on April 11, 2024, the Chief Sustainability Officer advised about new statutory reporting requirements, the stipulations of the German Supply Chain Due Diligence Act, the action SAP is taking to ensure responsible AI practices, and its plans to reduce its emissions.

The Supervisory Board was given the opportunity to build on its sustainability expertise by attending a training course the Company held in October 2024 on sustainability at SAP. SAP's sustainability solutions are crucial to its business, and because the topic of sustainability is relevant in many key aspects of SAP's operations, these aspects are also central to SAP's strategy.

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

In addition to the sustainability report, the Board of Directors receives all material sustainability‑related information, such as the results of the double materiality analysis and carbon footprint calculation. The Board of Directors monitors progress towards the sustainable development goals in its meetings, and adopts a sustainability report at least on an annual basis.

After their meetings, the Audit Committee and the HR Committee report to the Board of Directors on sustainability topics discussed by them. The Audit Committee monitors the outcomes of internal control and audits sustainability reporting practices as part of its audit duty. The HR Committee reviews the compatibility of the HR strategy and business strategy, the results of the job satisfaction survey, the performance of occupational safety and health enforcement, the diversity situation, as well as related plans and policies.

The CEO reports to the Board of Directors on sustainability-related material impacts, risks and opportunities, as well as progress towards sustainability targets. The Company's Management Team prepares matters related to sustainability before the CEO presents them to the Board of Directors and supervises, for its part, the implementation of sustainability actions as well as impacts, risks and opportunities related to sustainability at least on an annual basis in the meetings of the Management Team.

Through the varied experiences and profiles of Board members they enrich the quality of our governance in a spirit of impeccable professionalism, trust and warm personal commitment. In the past year we have thus had intense and fruitful exchanges with the leadership team on the transformation of Solvay, developing the new company strategy and formulating the new sustainability roadmap of Solvay.

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

Information provided to the Board on sustainability matters

(GOV-2 § 26 a) At Group Executive Committee meetings the development of SSAB's sustainability work is regularly reported to the CEO by the members of the Group Executive Committee in accordance with their respective areas of responsibility (for more information, see section The Group Executive Committee's responsibility for sustainability work), which is consolidated and reported to the Board of Directors. The board is informed, if deemed necessary, in the event of changes to group directives and instructions due to, for example, regulatory changes or based on internal evaluations.

The Board of Directors is updated at least quarterly about the development of SSAB's sustainability work in the company's material areas. The Board is updated through information in internal reports or other documents and presentations that are provided ahead of and presented at Board meetings. For the areas that have set targets, the Board is presented with the current outcome in relation to the set targets. Information about the Group's safety work and SSAB's transformation to fossil-free steel production is given at each ordinary meeting.

Each Board meeting conducts a review of the Group's safety statistics, sustainability objectives – including significant impacts, risks and opportunities related to sustainability matters, the current state of the business, the Group's results, financial position and the business (for more information on the Board's and the Group Executive Committee's responsibility in sustainability work, see section The Board's responsibility for sustainability work and The Group Executive Committee's responsibility for sustainability work). Other issues addressed include competition and the market situation.

Sustainability matters specifically addressed by the Board in 2024

(GOV-2 § 26 b & c) During the year, the Board of Directors specifically dealt with the following sustainability issues: • Transformation of operations to fossil-free steelmaking. • Safety work in the Group.

The Board of Directors has spent considerable time on topics related to the transformation to fossil-free steel production and has during the year visited SSAB's sites in Luleå, Sweden and Raahe, Finland. The company's material impacts, risks and opportunities related to sustainability are communicated to the Board in connection with the annual strategy and risk review and are a central part of the basis that the Board has taken into account in strategic decisions and considerations during the financial year, such as the Board of Directors' decision to proceed with the next step in SSAB's transition by building a state-of-the-art steel mill in Luleå for the production of premium steel with low CO2 emissions.

Information Provided to Board: The Board of Directors receives comprehensive information to support decision-making on sustainability matters. This includes:

Sustainability Committee Structure: The Board has established a Sustainability and Ethics Committee as one of its three committees, alongside the Financial and Audit Committee and People and Culture Committee.

Comprehensive Reporting: The Board receives detailed information through:

• Annual sustainability statement prepared in accordance with European Sustainability Reporting Standards (ESRS)
• Regular progress reports on sustainability targets and performance
• Updates on climate change mitigation and adaptation efforts
• Biodiversity and forest management reporting
• Health and safety performance metrics
• Diversity, equity and inclusion progress updates

Strategic Integration: Sustainability matters are integrated into the Board's oversight of:

• Strategic decision-making and business model development
• Risk management and internal controls
• Capital allocation decisions
• Performance monitoring and target setting

2024 Sustainability Oversight: In 2024, the Board was informed about significant sustainability progress including:

• 53% reduction in Scope 1 and 2 CO2 emissions from 2019 baseline (exceeding the 50% target by 2030)
• 39% reduction in Scope 3 emissions from 2019 baseline
• 94% of products technically recyclable
• 99% forest certification coverage
• Partnership with IUCN on positive biodiversity impacts

In the 2024 financial year, the Supervisory Board performed the duties incumbent upon it by law, the Articles of Association, the German Corporate Governance Code (GCGC) and its rules of procedure with due care. It regularly advised the Management Board on the management of the Company and monitored its activities. It was also directly involved in all decisions of fundamental importance to the Company at an early stage. The Management Board reported regularly, promptly and comprehensively on all relevant issues of corporate planning and strategic development. The Management Board's reporting covered the economic and earnings position of TAG and its Group companies, the course of business, the internal control system, the risk situation, risk management, compliance and sustainability issues. Reporting was done in writing and orally. The Management Board was also in regular contact with the Chairman of the Supervisory Board to discuss important business transactions and to exchange information on the general course of business.

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

Information Flow to Supervisory Bodies

The Management Board regularly, promptly, and comprehensively updated the Supervisory Board on strategy development and implementation, planning and business performance, risk position and risk management, as well as compliance, personnel planning, sustainability strategy, communication with investors, and current events.

Sustainability Matters Addressed

Audit Committee as Sustainability Committee

The Audit Committee also serves as the Sustainability Committee and deals with environmental, social and governance (ESG) topics. During the reporting period, the Audit Committee addressed:

• CSRD Implementation: The Committee received regular updates on the status of Corporate Sustainability Reporting Directive (CSRD) implementation throughout 2024
• ESG Performance Monitoring: The Supervisory Board monitored TeamViewer's sustainability performance and key ESG milestones
• ESG Ratings: The Company maintained its AAA rating in the MSCI ESG Rating 2024 and improved its ISS ESG Rating

Key ESG Achievements Reported

The following sustainability matters were reported to the administrative and supervisory bodies:

Environmental Initiatives:

• Partnership with Neustark for permanent CO₂ storage, aiming to remove 1,200 tons of CO₂ from the atmosphere over six years
• Commitment to net zero emissions strengthened through carbon removal initiatives

Social Initiatives:

• First-ever cyber robotics competition hosted between April and July, giving 750 students from the U.S. and Germany the opportunity to learn programming fundamentals
• Participation in Europe-wide "Code Week" initiative in October, welcoming students to explore coding and digitalization through interactive workshops
• Diverse workforce management with employees from various national backgrounds

Governance Initiatives:

• Data protection certification from TÜV Informationstechnik GmbH received in October
• Cybersecurity incident management and transparent communication approach
• Strong ESG ratings maintained across multiple agencies (MSCI, ISS, Sustainalytics, CDP, EcoVadis)

ESG Index Inclusion

As a result of strong ESG performance and ratings, TeamViewer was included in the prestigious STOXX DAX ESG 50+ Index.

Monitoring and Advisory Role

The Supervisory Board's monitoring and advisory responsibilities included a particular focus on sustainability matters throughout the reporting period, ensuring ESG considerations were integrated into strategic decision-making processes.

Audit and Risk Committee

The committee convenes regularly at least four times a year and meets the company's auditors, also without the company's management present. The Chairperson of the committee reports to the Board. The main tasks of the committee are to:

• review and supervise internal control – particularly the financial reporting process – and risk management • discuss and review the interim and annual reports, sustainability statements and the consolidated financial statements, including non-financial information • assess compliance with legislation, official regulations and the company's Code of Conduct • evaluate the sufficiency of internal control and the internal audit • examine, assess and approve the internal audit plan • assess the appropriate coverage of risk management and monitor the efficiency of risk management • review significant risks and unusual business events

2024

• The committee convened seven times in 2024 and attendance was 100%. • In addition to its regular agenda, the committee followed up progress of operational KPIs in the end-to-end businesses as well as development in cybersecurity and privacy matters. Additionally, the committee monitored the implementation of sustainability reporting as a new matter.

Sustainability Oversight

Sustainability is a core part of Tietoevry's operations, guided by the Corporate Sustainability Reporting Directive (CSRD) and European Sustainability Reporting Standards (ESRS). This integration is fostering collaboration across functions, helping us to identify gaps and drive continuous improvements.

Tietoevry's Board of Directors and the Audit and Risk Committee actively oversee our sustainability strategy. These governing bodies scrutinize, challenge and contribute to our initiatives, fostering both ambition and accountability.

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

Sustainability continued to be a high priority in our activities. We made good progress against ESG goals, in particular increasing investments to reduce our carbon footprint in relation to scopes 1 and 2. We also further increased the proportion of women in our executive and senior management teams, to 21.6% in 2024. Together with our customers, we create innovative and client-centric technology systems, to provide answers to sustainability challenges. In doing so, we add value to make the world better by creating more efficient and more sustainable systems and contributing to the United Nations' Sustainable Development Goals (SDGs). The percentage of turnover related to the SDGs increased to 71.6%.

Under the CSRD (Corporate Sustainability Reporting Directive of the European Union), companies in scope will be required to report on sustainability issues in their management report for the 2024 financial year and to obtain an assurance conclusion on this report. However, the implementation of CSRD in Dutch law has been delayed. Although there is not yet a formal statutory requirement to report in accordance with the CSRD due to the delayed implementation, TKH prepared its sustainability statements 2024 based on the CSRD on a voluntary basis. At the same time, we obtained a voluntary assurance on the sustainability statements. This confirms our focus on sustainability and further integration of sustainability in our own operations, and value chains.

Supervisory Board oversight

The Supervisory Board regularly receives reports on sustainability matters including ESG progress, climate change initiatives, diversity metrics, and contribution to UN Sustainable Development Goals. During 2024, sustainability was discussed at multiple Supervisory Board meetings, with particular attention to the preparation of CSRD-compliant reporting and the achievement of ESG targets.

The Executive Board reports to the Supervisory Board on strategies and action plans, market developments and Group performance, capital requirements and risks, etc. The Supervisory Board holds an annual strategy seminar to decide on and/or adjust the Group's strategy to sustain value creation in the company.

The Supervisory Board is regularly informed about the dialogue with investors and other stakeholders. Each year, the Supervisory Board reviews sustainability matters and ensures they are integrated into the company's strategic direction.

Sustainability and ESG are defined as key enablers to support Tryg's 2027 strategy. Under the themes 'Future-fit products', 'Climate action' and 'People at Tryg', ambitious ESG targets have been defined to bolster future business resilience and enhance competitiveness.

Information provided to and sustainability matters addressed by the administrative, management and supervisory bodies are covered in the governance section. The Board of Directors is regularly informed about sustainability matters through reports from management and specialized committees. Sustainability considerations are integrated into strategic decision-making processes.

The Board of Directors and Executive Management regularly receive information on sustainability matters through various channels:

• Quarterly reporting: Assessment of sustainability-related goals, broken down into key products, services and geographies, is presented to the Executive Management and the Board on a quarterly basis • Annual reporting: Scope 3 emissions and community engagement metrics are reported annually to leadership • Strategic alignment events: The Vestas Leadership Forum (top 250 leaders) and Enterprise Leadership Team (top 80 leaders) focus on strategic alignment including sustainability matters • Committee oversight: The Audit Committee has specific oversight responsibilities for sustainability reporting and related risks

The sustainability matters addressed include:

• Climate change mitigation (E1)
• Circular economy and resource use (E5)
• Own workforce (S1)
• Affected communities (S3)
• Political engagement (G1)

The Board and management teams regularly evaluate progress against the company's sustainability strategy targets including carbon neutrality by 2030, zero-waste wind turbines by 2040, safety improvements, and increased diversity in leadership positions.

The Audit Committee oversees this progress by reviewing and monitoring the status of the company's strategic sustainability related targets. As the Audit committee members are also members of the Board of Directors, they are also involved in setting the sustainability related targets. In addition to overseeing these targets and sustainability reporting, the Audit Committee also reviews policies and makes recommendations to the Board of Directors, who have the authority to approve these policies.

Material Impacts, Risks and Opportunities Addressed:

The Acerinox Directors' Remuneration Policy states that the CEO's Bonus goals (variable remuneration) are linked to sustainability criteria such as safety at work, GHG emissions, diversity, and recycling. The weighting of these goals in the total computation of the bonus may not be less than 10%.

The Sustainability Committee and the Appointments, Remuneration and Corporate Governance Committee proposed that the weighting of sustainability indicators in the Acerinox Group's Senior Management variable remuneration should increase to 15% of the total by 2024 in the case of the Chief Executive Officer, the Chief Corporate Officer, the General Secretary and the Deputy Secretary General, and maintain a 10% weighting for the other members of Senior Management.

The ESG indicators used to calculate the Senior Management variable remuneration for 2024 are as follows:

a. 26% annual reduction in Total Incidents Recorded (TIR) for the Group compared with 2023, with a weighting of 50%.

b. 1.54% reduction in the Group's greenhouse gas emissions (Scope 1 and 2) compared to 2023, with a weighting of 16.6%.

c. 4.01% increase in the Group's waste recycling ratio compared to 2023 levels, with a weighting of 16.6%.

d. 0.25% increase in the number of women in the Group's workforce compared to 2023 levels, with a weighting of 16.6%.

For the CEOs of the various business units, the sustainability index is defined in the aforementioned manner, albeit with reference to the specific targets of the companies for which they are responsible.

At the beginning of FY 2025, the Sustainability Committee and the Appointments, Remuneration and Corporate Governance Committee reviewed compliance with ESG targets, which reached 59%.

The ESG indicators for calculating Senior Management bonuses are reviewed annually by the Sustainability Committee and the Appointments, Remuneration and Corporate Governance Committee, and subsequently by the Acerinox Board of Directors.

Acerinox has sustainability targets linked to environmental, social and corporate governance performance, as set out in its Sustainability Master Plan and based on international standards such as the Paris Agreement and the Sustainable Development Goals (SDGs), among others. In addition, the variable remuneration of the members of the Management Committee, including the CEO, is linked to the achievement of certain sustainability targets.

One of these targets, the reduction of CO2 emissions, is related to GHG emissions due to the Group's business model. Positive impacts on GHG Reduction are due to the implementation of measures to mitigate climate change; this comes with the risk of Loss of market share due to non-compliance with CO2 rates, Increase in costs due to non-compliance with CO2e rates and Increase in costs (CAPEX and OPEX) to meet emissions reduction targets.

Until 2023, the CO2 emissions intensity target (Scope 1 and 2) was linked to remuneration at the Stainless Steel Division. In accordance with the Sustainability Master Plan, the Company committed to reduce by 20% the intensity of Scope 1 and 2 CO2 emissions by 2030, reaching a ratio of 0.95 tCO2/metric ton compared to the 2015 value (1.20 tCO2/metric ton). Taking into account the 2023 ratio (1.07 tCO2/metric ton) and the 2030 target (0.95 tCO2/metric ton), the annual Scope 1 and 2 emissions reduction pathway has been set on a linear basis of 1.54% between 2023 and 2030.

In 2024, the reduction target for Scope 1 and 2 CO2 emissions intensity was extended to the entire Group, including the High-Performance Alloys Division. To this end, a reduction in the emissions intensity ratio of 1.54% with respect to 2023 was applied. Considering that the Group's intensity ratio was 1.088 tCO2/metric ton in 2023, the target for 2024 was 1.07 tCO2/metric ton.

The annual variable remuneration bonus is determined based on the achievement of financial and non-financial targets, such as those related to sustainability and climate change. In 2024, 15% of the CEO's bonus and 10-15% of the bonuses of the other members of Senior Management were linked to ESG targets. The CO2 emissions intensity reduction target accounts for 16.6% of the ESG targets. In 2024, the target related to climate change reached 100% compliance.

The CO2 emissions intensity ratio (Scope 1 and 2) is calculated by dividing the estimated Scope 1 and 2 emissions from the 2024 GHG Inventory by the total metric tons produced. The perimeter includes Acerinox Europa, NAS, Columbus Stainless, Bahru Stainless, VDM Metals, Roldán, and Inoxfil.

The Stainless Steel Division also has sustainable loans linked to the reduction of its carbon footprint; these are tied to a 1% annual reduction in emissions intensity (scope 1+2). The 2024 target was met as the ratio was 1.044, below the target of 1.075 tCO2eq/metric ton of production.

Integration of sustainability-related performance in incentive schemes

Amadeus includes sustainability-related metrics in the annual incentive scheme for the Executive Directors. The total remuneration for the Executive Director is based on non-performance elements (fixed remuneration) and performance elements (i.e. variable pay).

2024 Performance Objectives The 2024 performance objectives for the short-term incentive – Annual Bonus - included financial and non-financial goals: financial goals had a weighting of 88%, and sustainability goals with a weighting of 12%. The latter consisted of metrics related to Amadeus environmental, social and governance ambitions.

Financial metrics (88%): revenue, EBITDA, adjusted earnings per share (EPS).

Sustainability metrics (12%): • Electricity consumption per full-time equivalent worker. • Scope 1+2 emissions in line with the carbon neutrality by 2025 objective. • Community investment. • Employee Learning & Development training hours per employee. • Cybersecurity training completion.

The selected metrics by the Nominations and Remuneration Committee are quantitative, auditable and align management to goals that are currently in the Amadeus sustainability strategy. The performance measures agreed are aligned with the short-term objectives of the company and the metrics have been established in accordance with these priorities.

At the end of 2024 and beginning of 2025, the Nominations and Remuneration Committee has reviewed performance against targets and determined that a payout is appropriate considering the level of achievement in relation to target.

Non-Executive Directors With respect to the remuneration of the Non-Executive Directors, it consists of a fixed fee. The Chairman and Non-Executive Directors do not participate in any incentive linked to Company performance or pension plans.

Wider Workforce Additionally, Amadeus includes sustainability-related performance in the incentive scheme for the wider workforce. The sustainability metrics in the Executive Director Annual Bonus are also present in bonus scheme for Amadeus staff and management.

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.

Banco Sabadell Group's Remuneration Policy is consistent with the goals of the risk and business strategy, the corporate culture, the protection of shareholders, investors and customers, the values and long-term interests of the Group, as well as with customer satisfaction and the measures taken to prevent conflicts of interest without providing incentives for excessive risk-taking.

Banco Sabadell Group's Remuneration Policy is based on the following principles:

1. Promote business and social sustainability in the medium-long term and ensure alignment with Banco Sabadell Group's values. This involves: • Aligning remuneration with shareholders' interests and with the creation of long-term value. • Implementing rigorous risk management, considering measures to prevent conflicts of interest. • Aligning with Banco Sabadell Group's long-term business strategy, objectives, values and interests.

2. Ensure a competitive and fair remuneration system (external competitiveness and internal fairness) that: • Is able to attract and retain the best talent. • Rewards professional experience and responsibility, irrespective of the employee's gender. • Is aligned with market standards and is flexible.

3. Reward performance, thereby aligning remuneration with individual results and the level of risk taken: • Finding an adequate balance between the various remuneration components. • Considering current and future risks and results, without providing incentives for excessive risk-taking. • Implementing a simple, transparent and clear-cut remuneration scheme.

In terms of sustainability, the following aspects are taken into consideration:

• The remuneration policy and practices integrate sustainability risks and information is published on the Group's website. The remuneration policy and practices encourage behaviour consistent with the Group's risk-based approaches related to climate and the environment, as well as with voluntarily undertaken commitments. They promote a long-term approach to the management of climate-related and environmental risks.

• Remuneration components must contribute to the promotion of environmental, social and governance actions in order to make the business strategy sustainable and socially responsible.

Variable remuneration will be linked to results, combining: • Results of the Group, entity, business unit or division and/or those of the employee. • Both financial and non-financial criteria, aligned with strategic planning, budget and risks taken or indicators in the fields of environment, society, diversity and gender equality. • Multi-year targets based on quantitative criteria linked to a period long enough to properly reflect the risk taken.

Synthetic Sustainability Indicator (SSI)

Within the Group's objectives, the Synthetic Sustainability Indicator (SSI) has a weight of 10% in employees' variable remuneration and includes ESG metrics and indicators. In the case of the Executive Directors, this indicator has a weight of 14% for the CEO and 13% for the CRO.

Furthermore, to reinforce the alignment of remuneration with the Group's sustainability commitment, in 2023 a synthetic sustainability indicator was included in the multi-year targets set by the Group, directly linked to long-term remuneration, weighted at 20%.

For the period 2024-2026 the multi-year target indicators are: • Shareholder value creation (relative Total Shareholder Return or TSR), weighted at 40% • Profitability (Return On Tangible Equity or ROTE), weighted at 40% • Sustainability (synthetic sustainability indicator), weighted at 20%

Additionally, some job functions have been assigned sustainability targets as part of their individual targets.

Banco Sabadell Group annual and multi-year targets, their weighting and their scale of achievement will be approved by the Board of Directors, based on a proposal by the Board Remuneration Committee.

BIL's Remuneration Charter and associated practices are aimed at defining remuneration structures that protect the interests of its clients, suppliers, employees, and shareholders, while ensuring the Bank's financial sustainability over the long term.

For the majority of BIL's staff members, variable remuneration is discretionary and is determined based on a reference amount. The bonus reflects the outcomes of the year-end performance review. Incentive schemes are designed to foster a culture of accountability and performance, while also aligning with the Bank's core values of "caring, leading, engaging, accessible, and reliable".

BIL has established Environmental, Social, and Governance (ESG) objectives. These objectives are progressively cascaded down from the Executive Committee (ExCo) to people managers and relevant functions, such as those in the investment office. Performance is assessed from two perspectives:

• "What": This refers to specific targets, including a mix of individual, collective, financial, and non-financial targets.
• "How": This dimension considers adherence to BIL's values, emphasising care, compliance, and business ethics.

Sustainability-related performance metrics are included in both the "What" and "How" aspects of performance assessment. This ensures that while individual performance is measured, it does not incentivise behaviours that could lead to conflicts of interest. By avoiding purely quantitative commercial criteria, ethical decision-making aligned with the long-term goals of the Bank is encouraged.

At this stage, there is thus an indirect link between variable pay and sustainability-related targets, reflecting BIL's commitment to embedding ESG considerations into its performance evaluation processes.

Examples of ESG Objectives by Department:

Throughout the organisation, various departments are tasked with setting and achieving specific ESG objectives, including:

• Risk: Proactively managing ESG risks and integrating climate capabilities into existing frameworks.
• Procurement: Managing supply chain ESG risks by ensuring BIL does business with suppliers with consistent values and standards.
• IT: Deploying IT assets to help the rest of the firm develop innovative ESG products and respond to regulatory requirements, notably reporting.

Since 2024, variable compensation for senior executives has been based on targets derived from the key performance indicators for the steering of the respective business unit and the BASF Group. We plan to introduce this differentiated bonus system for all other employees over the course of 2025. This underscores the further increased autonomy of the divisions as part of the "Winning Ways" strategy and their accountability for business success.

We will further develop the performance management system for our leaders and employees and establish a closer link between incentives and unit-specific performance.

Integration of sustainability-related performance in incentive schemes

Integration into variable remuneration for executive directors

BBVA has integrated sustainability indicators into the variable remuneration system. To promote the achievement of the objectives, the following are included in BBVA's variable remuneration system:

• Promoting new business through sustainability: Annual Variable remuneration linked to the promotion of sustainable business for all employees, including executive directors and Senior management of BBVA, as well as incentives linked to sustainable business specific to the commercial network.

• Achieving net zero emissions: since 2023, long-term variable remuneration has been linked to certain decarbonization targets for members of the collective, including executive directors and Senior management of BBVA.

Short-term incentive indicators (2024)

Long-term incentive indicators (2024)

Overall sustainability weight in remuneration

The indicators for calculating the annual variable remuneration include several non-financial or Sustainability-related indicators - NPS, Target Clients, Sustainable Business Channeling, Decarbonization of the Portfolio and Percentage of Women in Management Positions - which together represent 32.8% of the target annual variable remuneration.

Integration into financing structure

The issuance of own green, social and sustainable bonds plays a key role in achieving sustainability objectives. Business areas that issue products identified as green, social, and sustainable bonds under the applicable criteria receive a bonus, provided the financing cost of these types of bonds is lower than that of conventional bonds. This is determined by BBVA's Funds Transfer Pricing (FTP) system.

Individual profit-sharing motivates the majority of employees to pursue the agreed targets with commitment.

At the locations of the Bechtle Group, the Managing Directors alone are responsible for the success of their companies. By way of their strictly earnings-oriented variable compensation, each Managing Director directly participates in the success of the respective company. Bechtle thus promotes and supports entrepreneurial spirit and business responsibility at all locations in order to ensure successful business performance on a long-term basis.

Achievement of sustainability targets is firmly enshrined in the Beiersdorf remuneration and incentive schemes. This underscores the Executive Board's responsibility for creating long-term value for people, the environment, and society.

The Supervisory Board is responsible for the determination of the remuneration of the members of the Executive Board. The total remuneration payable to the members of the Executive Board is composed of fixed and variable elements. The fixed remuneration, which is not tied to performance, comprises the base remuneration plus ancillary benefits. The variable, performance-related remuneration is composed of a short-term variable bonus with annual targets (variable bonus) and a long-term variable bonus (LTP). The sustainability and ESG-related targets are integrated into this variable remuneration.

Variable bonus

The members of the Executive Board receive a variable bonus tied to the performance of the Consumer Business Segment for each financial year. This is paid out after the Annual General Meeting of the year following the financial year in question. The variable bonus is composed of joint and individual performance criteria that are tied to the company's financial and non-financial performance as well as its strategic and operational development. The specific performance criteria can also be related to sustainability or ESG.

The performance criteria within the individual variable bonus targets in 2024 included (depending on the member) reduction of greenhouse gas emissions, receipt of the Triple-A rating from CDP, NIVEA sustainability projects, gender diversity, internationalization, and other diversity and inclusion targets. The average proportion of sustainability and ESG-related performance criteria in the 2024 variable bonus was 18% of target remuneration.

Long-term bonus (LTI)

Executive Board members receive a multi-annual bonus measured, in accordance with the currently valid remuneration system, on the basis of the targets for the achievement of strategic criteria after the expiry of a four-year bonus period from 2021 through 2024 (LTP 2021–2024). Climate-related targets accounted for 20% of the weighting of the entire LTP 2021–2024 (based on target remuneration). The climate targets were to reduce global Scope 1, 2, and 3 emissions by 20% (vs. 2018) and increase the share of recycled materials in plastic packaging by 20%, both by 2024. Targets relating to diversity and employee development also accounted for 20% of the weighting.

The average proportion of sustainability and ESG-related targets in the entire performance-related variable remuneration for 2024 was 32% of target remuneration.

Board of Management Remuneration

The total remuneration provided to the members of the Board of Management consists of fixed and variable components. Variable remuneration accounts for 58-66% of the total target remuneration.

Performance Component Structure

The performance component of the bonus rewards the achievement of certain non-financial performance criteria defined by the Supervisory Board. These criteria are divided into:

• Individual targets for individual Board of Management members (departmental targets) - 10% of target amount
• Collective targets for the entire Board of Management (interdepartmental targets) - 90% of target amount

Sustainability Integration

The interdepartmental targets include sustainability-related performance criteria and other non-financial criteria:

• 50% weighting for sustainability-related targets
• 40% weighting for other non-financial targets

Long-term Component

The share-based remuneration as a variable long-term component depends on target achievement for financial indicators including return on capital employed (RoCE).

Target Setting and Review

The Board of Management's remuneration targets for each year are set in December of the previous year. A meeting is held in March to:

• Review the extent to which targets for the past financial year have been achieved
• Pass a resolution on the Board of Management's remuneration

The achievement of material ESG targets is discussed as part of the reporting on the annual and Group Financial Statements and is integrated into the remuneration system for the Board of Management.

Integration of sustainability-related performance in incentive schemes

Crayon Group Holding ASA has established an Employee Stock Purchase Plan (ESPP) through which all employees annually are given an opportunity to acquire stocks at a 20% discount to the market price. After a two-year lock-up period, employees are awarded one additional bonus share for every three shares acquired.

Share based compensation amounted to NOK 35m (NOK 42m in 2023).

The Annual General Meeting on May 15, 2024, authorized the Board of Directors to increase the share capital in connection with the company's incentive schemes and acquisitions. The Board has granted an authorization to increase the Company's share capital in relation to the Group's incentive schemes with up to NOK 5,374,495, provided however that the authorization cannot be used for an amount in excess of 6.0% of the Company's share capital.

During 2024, a total of 1,162,752 treasury shares have been allocated to employees under these programs.

Board members are encouraged to own shares in the Company.

Integration of sustainability-related performance in incentive schemes

Sustainability-related KPIs, including climate-related KPIs, are integrated into the Danske Bank Group's, and consequently Danica's, performance management framework to ensure that remuneration programmes reflect the Group's sustainability ambitions. The KPIs for remuneration programmes are approved by the Board of Directors after being reviewed by the Board of Directors' Remuneration Committee. The incentive schemes do not apply to members of the Board, as they do not receive variable remuneration.

For Danica's Executive Board, KPI agreements are prepared by the CEO, and the KPI agreement applying to the CEO is made with the chairman of Danica's Board of Directors. In 2024, ESG aspects made up 10% of the Executive Board's incentive programme.

Remuneration: The Executive Board members participate in a bonus programme in which sustainability KPIs have a weighting of 10% of the total bonus programme.

Danone integrates sustainability-related performance into its incentive schemes through several mechanisms:

Long-term Compensation Plans: The Company has implemented various long-term compensation instruments that incorporate sustainability metrics:

• Group performance shares (GPS) subject to performance conditions including sustainability targets
• Fidelity Shares (FS) with progressive continuous employment conditions
• Group performance units (GPU) with multi-annual compensation structure

Performance Measurement Integration: Sustainability performance is embedded in compensation through:

• Danone Impact Journey milestone achievement
• B Corp™ certification progress (92.8% of sales covered by B Corp™ certification in 2024)
• Health and nutrition metrics including Health Star Rating performance (87.7% of sales rated ≥ 3.5 stars)
• Environmental targets including climate action and packaging circularity

Mission-Driven Alignment: As an Entreprise à Mission, Danone's incentive schemes are aligned with its mission to 'bring health through food to as many people as possible' and its commitment to creating both shareholder and societal value.

Executive Committee Integration: Senior leadership compensation is tied to the achievement of sustainability objectives as part of the Renew Danone strategic plan, ensuring accountability for environmental, social, and governance performance at the highest levels of the organization.

Performance Culture: The Group has evolved both short-term and long-term incentives as part of driving a performance culture while maintaining alignment with its purpose and sustainability commitments.

In the 2024 fiscal year, Digia had a long-term share-based incentive scheme for senior executives. The earning period in the incentive scheme is 2023–2025. The scheme's target group consists of the CEO and the company's senior executives. The scheme may also cover other individual key personnel. The scheme is designed to align the goals of the company's shareholders and management in order to increase the company's value, and to commit executive management to the company and its long-term objectives. It offers participants the chance to earn company shares if the targets set by the Board of Directors for the three-year bonus period are met.

These targets are based on the company's net sales, cumulative earnings per share (EPS) for 2023–2025, and sustainability objective. The earnings period for indicators is three years (2023–2025), and the targets for all indicators have been set for the final date of the earnings period. During the bonus period, the company's CEO and other scheme participants are entitled to a bonus equivalent to a maximum of 480,000 new Digia Plc shares. If the terms are met, the bonuses for all indicators based on the new scheme will be paid at the end of the reward period in spring 2026. All bonuses under this scheme will be paid as a combination of shares and cash. The cash component of the bonus will primarily be used to cover taxes and other comparable costs arising from the scheme.

As a rule, the bonus will not be paid if a member resigns or if a member's employment or post is terminated prior to the bonus payment date specified in the incentive scheme. Under certain conditions, the Board may, at its discretion, decide on possible bonuses in accordance with the pro-rata principle.

EUR 0.6 million in expenses were incurred by the scheme during the 2024 fiscal year. EUR 0.4 million in expenses were incurred by incentive schemes during the previous fiscal year.

Integration of sustainability-related performance in incentive schemes

Strategic Plan Integration

Integration of targets and sustainability projects (i.e. Community Investment) within the Strategic Plan and the management incentive program is part of Eni's treatment measures for managing relationships with local stakeholders.

Climate Strategy Incentives

Remuneration policy with short and medium terms incentive plans including targets related to the "climate strategy" in line with the strategic plan is implemented as part of Eni's climate change risk treatment measures.

Structured governance includes a key rule of the Board of Directors in managing the main issues related to the climate change, with specific committees supporting the Board, and the Strategic Plan foresees operational actions for each business to sustain the industrial transformation and to reach targets in the short, medium and long term.

Integration of sustainability-related performance in incentive schemes

Executive remuneration policy

The executive remuneration policy which was approved by the 2023 annual general meeting serves as the basis for the 2024 remuneration report. The policy is designed to contribute to attracting and retaining executives and motivating them to drive the success of the company. A key principle for Equinor's remuneration policy is moderation. The reward should be competitive, but not market-leading, and aligned with the markets that the company recruits from, maintaining an overall sustainable cost level.

Equinor places a strong focus on fostering alignment between the interests of its executive management and those of its owners and other stakeholders. Variable remuneration is aimed at driving performance in line with the company's strategy and securing long-term commitment and retention with the company.

The receipt of variable remuneration depends on individual and company performance and is subject to a holding period requirement for some elements. Performance-based variable remuneration was capped in accordance with the relevant Norwegian state guidelines.

Performance measurement framework

In Equinor, how we deliver is as important as what we deliver, and KPIs and behaviour goals applicable for an executive are therefore weighted equally when setting the individual bonus level. One of the common KPIs used to decide the annual variable pay (bonus) component of variable pay for all executives is "Upstream CO₂ intensity: <= 7 kg/boe".

In the behaviour part of the performance assessment there is a common goal to transform own organisation to deliver on our purpose and become a leading company in the energy transition.

Remuneration of the board of directors

The remuneration of the BoD is decided by the corporate assembly annually, following a recommendation from the nomination committee. Remuneration for board members is not linked to performance, and board members do not receive any shares or similar as part of their remuneration. The board members receive an annual fixed fee.

Decisions on and principles of remuneration policy at EVN

The principles for the remuneration of the members of EVN's Executive Board (remuneration policy) were approved by the Supervisory Board in accordance with § 78a (1) of the Austrian Stock Corporation Act on 27 September 2023 based on a proposal of the Super­visory Board's Remuneration Committee in keeping with C-Rule 43 of the ACGC. These principles have remained in effect since the passing of a resolution by EVN's 95th Annual General Meeting on 1 February 2024. In accordance with § 78a (1) of the Austrian Stock ­Corporation Act, the remuneration policy must be presented to the Annual General Meeting at least every fourth year for voting. The remuneration is established annually by the Annual General Meeting.

The Remuneration Committee defines the financial and non-financial targets for the Executive Board members as part of the remuneration policy each year. It evaluates the results of business activities after the end of the financial year and establishes the target achievement for the financial and non-financial goals. The achievement for the financial and ESG targets requires the prior approval of the annual financial statements, whereby the Remuneration Committee reviews, or arranges for a review of, the correct calculation of the relevant ­metrics in advance. Based on this information, the ­Remuneration Committee defines the target achievement and the amount of payment, subject to the formal approval of the annual financial statements by the Supervisory Board and informs the members of the ­E xecutive Board ­accordingly.

Remuneration policy for the members ­of the Executive Board

The remuneration for the members of the Executive Board includes both fixed and variable components. The fixed remuneration components are independent of performance and consist of a base salary, remuneration in kind and ancillary benefits as well as a pension serviced by an external pension fund.

The variable remuneration components are dependent on performance and consist of long-term financial ­targets that are measured on the basis of multi-year performance criteria. Also included are ESG targets with single or multi-­year goals as well as individual targets with one-year performance criteria. The Long Term Account (LTA), which covers the achievement of financial and ESG targets, ­creates the basis for a long-term review period. Moreover, the remuneration policy includes malus and clawback rules.

The Remuneration Committee sets the financial targets for a period of four years in advance to uncouple the annual corporate planning process from the variable remuneration system and, in particular, to strengthen the concentration on medium- and long-term strategic goals and opportunities. The concrete ESG goals can be determined annually based on the company's long-term targets. The purpose of the four-year planning horizon is to focus the targets in the remuneration ­policy on medium- and long-term corporate goals and, through the multi-period nature of variable ­remuneration, to support sustainable management over a ­number of years. This four-year period reflects ­standard market practice.

The targets are derived on the basis of internal ­corporate data and information as well as external sources, above all peer group comparisons or capital market and rating agency evaluations.

To strengthen the sustainable development of the EVN Group, the Remuneration Committee also defines quantitatively measurable ESG targets for the variable remuneration components which are based on the sustainability strategy presented in the full report. These targets can be defined for a single year or for a multi-­year period. The decisive criteria catalogue ­covers the following subject areas, whereby at least three targets must be included:

Sustainability strategy – targets

Environment

Social

Governance

At the Executive Board level, 15% of variable remuneration is linked to ESG targets. The Long Term Account transfers the variable remuneration from the achievement of the financial and ESG targets in a particular period into an aliquot annual payment by releasing 50% of the Long Term Account in the first year after expiration of the financial year on which the entitlement is based. The remaining 50% are carried forward to the following periods.

Remuneration policy for the members of the Supervisory Board

The shareholder representatives on the Supervisory Board receive fixed annual base remuneration and a fixed attendance fee per meeting, but do not receive any variable or any ESG-based remuneration.

The amount of the basic remuneration for the Super­visory Board members can be measured differently for factual reasons, in particular the respective functions (e. g. chairperson, vice-chairperson, chair or membership in committees). The attendance fees reflect the fact that the ­number of meetings and the related time spent, especially in connection with committee memberships, can vary.

The employee representatives on the Supervisory Board exercise their functions in accordance with § 110 (3) of the Austrian Labour Constitutional Act in an honorary capacity and do not receive any remuneration and also no ESG-dependent remuneration.

The F-Secure Leadership Team is eligible for the non-sales Short-Term Incentive (STI) Plan. The purpose of the STI Plan is to reward participants for achieving the financial and operational objectives of the Company, to focus on execution of the business plan, and to foster a performance culture.

The Leadership Team is also eligible for the share-based long-term incentives (LTI) to align the interests of the shareholders and the Leadership Team. Part of our administrative and supervisory bodies' renumeration is tied to LTIs similar to the Leadership Team.

Role of sustainability-related targets in incentive schemes

The goals of F-Secure's 2024 non-sales STI Plan included the Company Business Results (combined growth % and profitability %) and the Company Employee Engagement (eNPS). These STI elements are tightly connected to our material sustainability drivers as growth is a proxy number for the number of consumers that we protect globally ("building trust in digitality and society"), while eNPS represents the importance of our employee well-being and satisfaction.

The non-sales STI Plan is included in the remuneration policy, and the goals of the non-sales STI Plan as described here are approved by the Board annually. Similarly, performance against the targets is reviewed regularly while any pay-outs take place annually.

Share-based LTI programs can be based on long-term financial and/or strategic performance or on the company's share value increase. In performance-based LTI programs, the criteria for the performance period are based on strategic financial targets.

STI or LTI plans do not contain any climate-related targets.

Proportion of variable remuneration dependent on sustainability-related targets and approvals

The non-sales STI consists of the Business Results (combined growth % and profitability %) with 60-80% weight, a function-specific target with 0-20% weight that may link to sustainability related targets and the Company Employee Engagement (eNPS) goal with 20% weight. The Long-Term Incentive criteria for the performance period are based on strategic financial targets.

The annual non-Sales STI design and the company-level targets are approved by the Board of Directors based on a proposal made by the Leadership Team. For the LTI programs, the Board of Directors decides on the terms and conditions for the plans and the possible performance criteria and objectives for each performance/vesting period.

Integration of sustainability-related performance in incentive schemes

To strengthen the sustainable development of the company, in addition to financial targets, the variable remuneration of every Executive Board member includes ESG targets for 2024 and 2025. The ESG targets cover energy, the circular economy, compliance, and cybersecurity.

The ESG targets are used as a calculation factor for the variable remuneration of every Executive Board member. At the end of the agreed performance period, the variable remuneration resulting from the financial targets may be increased or decreased depending on the degree of achievement of the ESG targets. The targets are set by the remuneration committee on the basis of the remuneration principles for the members of the Executive Board.

Integration of sustainability-related performance in incentive schemes

The Supervisory Board established the sustainability factor for the Executive Board's variable compensation for the financial year 2024. It also decided on the criteria for measuring the sustainability factor for 2025 and the target total compensation for 2025.

Variable compensation for local, regional and global management is based on FVA (FUCHS Value Added). Entitlements to variable compensation are only granted when positive added value has been generated in the respective financial year.

Integration of sustainability-related performance in incentive schemes

THE ORGANISATION AND REMUNERATION COMMITTEE: Prepares the scorecard for the CEO, where the operationalization of several sustainability topics occurs and is measured. The Committee shall provide advice on matters relating to remuneration, and annually discuss with the CEO principles and specific frameworks for determining the remuneration of other senior executives.

CEO: Responsible for delivering on the goals set by the board, and setting sustainability goals downwards in the organization through the scorecards of the executive vice presidents

EVPS AND MANAGING DIRECTORS OF SUBSIDIARIES: Executive vice presidents and executives of subsidiaries implements sub-goals and action plans to deliver on the sustainability goals.

The remuneration of executive personnel is linked to value creation over time, reflects responsibilities and expertise and is based on measurable outcomes. The level of goal attainment influences the payment of bonuses to executive personnel and collective bonuses to all employees. Customer satisfaction goals and other sustainability-related performance metrics are incorporated into these measurement frameworks.

Board of Directors incentive scheme

Sustainability-related targets or impacts, including performance assessment against greenhouse gas emission reduction targets, as referred to in the chapter Climate Change, or other sustainability-related performance metrics are not considered in the Board of Directors' incentive scheme.

Carbon pricing implementation

In 2024, the Hilti Corporation implemented a cross charge to its subsidiaries for expenses related to the procurement of green electricity and carbon offsetting projects, both key elements for Hilti's climate neutrality. The subsidiaries are charged a share of these costs based on the volume of their GHG emissions. The cross charge covers 64,369 tons of Scope 1 emissions, 51,387 tons of Scope 2 emissions and 19,027 tons of business travel emissions (part of Scope 3).

HUGO BOSS has integrated sustainability-related performance into its incentive schemes at multiple management levels:

Short-term Incentive (STI): The STI program for managers at all four management levels below the Managing Board is linked to achievement of specific sales and EBIT targets, with trade net working capital as a percentage of sales being the third component.

Long-term Incentive (LTI): The compensation scheme for management at the two levels below the Managing Board includes a long-term incentive program whose design matches that for the Managing Board. The LTI includes both financial targets and non-financial ESG (environmental, social, governance) targets. The ESG component is related to:

• Employee satisfaction
• The Company's relative performance in sustainability

The LTI is intended to ensure that senior management of HUGO BOSS pursues a sustainable business policy that is aligned to the interests of the Company. This structure ensures that sustainability performance directly impacts executive compensation and decision-making.

KONE drives sustainability performance also through compensation. KONE's long-term incentive plan, approved and updated by the Board of Directors, emphasizes sustainability alongside profitable growth to ensure a strong focus in driving transformation towards the achievement of KONE's sustainability ambitions. KONE's Sustainability KPIs have a total 20% weight in the long-term incentive plan and are related to KONE's targets to reduce its Scope 1, 2 and 3 carbon emissions (10% weight), as well as diversity and safety related targets (10% weight).

Sustainability matters are included in the policies that govern Executive Board remuneration. From the 2024 financial year onwards, ESG targets account for 20% of the target amount of the long-term incentives (LTIs), and further ESG targets are to be added in turn. In addition to Scope 1 and Scope 2 greenhouse gas (GHG) emissions, the LTI has also been based since the 2023 financial year on the percentage of women in management (Krones AG and Krones Group). Emissions are weighted at 70%, the percentage of women in management in the Krones Group is weighted at 20% and the percentage of women in management within Krones AG is weighted at 10%.

At LEROY MERLIN Spain, the position of director is unpaid, so the members of the governing body (Board of Directors) do not have an incentive system.

The members of the executive leadership team do have an incentive system consisting of:

Progress bonuses (quarterly variable)

Applies to all LEROY MERLIN Spain employees. Rewards progress in Gross Merchandise Value and results of each store, region, and headquarters. Includes achievement of two qualitative objectives related to sustainability:

• Customer satisfaction (NPS objective)
• Employee safety (frequency rate objective)

Awarded four times a year with maximum quarterly and annual limit of 25%.

Profit-sharing rate (annual variable)

Applies to all employees, rewarded for company performance. Rate percentage applied to gross annual salary, capped at 15%.

Share Revaluation (VALADEO)

All employees become shareholders in ADEO Group. Share price appreciation influenced by results achieved in the ADEO Positive Index, which measures company performance through ten key indicators including:

• Occupational accident frequency rate
• Workplace accident severity index
• Percentage of employees trained in Code of Ethics
• Percentage of female directors and managers
• Training hours per employee
• Employee satisfaction index (eNPS)
• Percentage of suppliers signing Code of Conduct
• Sales share of products with Home Index rating A, B or C
• Direct carbon emissions (scopes 1 and 2)
• Product lifecycle carbon emissions (Scope 3)
• Sale of products that allow customers to avoid emissions
• Percentage of renewable energy consumption
• Percentage of waste recovered

Long-term incentive for management team

Senior management has long-term incentives with environmental or social indicators depending on their mission, primarily related to health and safety, carbon footprint, and customer satisfaction.

It is not possible to provide a consolidated percentage of executive compensation that depends on sustainability-related goals, since each profile may have different indicators.

Integration of sustainability in incentive schemes

Lundbeck has integrated sustainability-related performance indicators into executive remuneration to align management incentives with the company's sustainability strategy and long-term value creation.

Short-term incentive plan (annual bonus):

• ESG objectives comprise a portion of the annual performance evaluation for Executive Management
• Sustainability KPIs included cover areas such as:
  • Patient access metrics and health equity improvements
  • Progress on climate targets including GHG emission reductions
  • Workplace safety performance (lost time injury frequency rates)
  • Business ethics compliance rates

Long-term incentive plan:

• The long-term incentive program incorporates sustainability criteria that must be achieved over a multi-year performance period
• Sustainability metrics are weighted alongside financial performance indicators
• Focus on material sustainability impacts that drive long-term value creation

Performance measurement:

• Sustainability targets are aligned with Lundbeck's approved Science Based Targets and other external commitments
• Performance is measured against both absolute targets and year-over-year improvements
• External verification of sustainability data provides assurance on performance measurement

Governance oversight:

• The Remuneration Committee oversees the integration of sustainability metrics in compensation
• Regular review of sustainability incentive structures to ensure continued alignment with strategy
• Transparent disclosure of sustainability performance outcomes in annual reporting

Our climate commitments remain connected to the remuneration of Neste's key personnel, as a performance measure in Neste's long-term incentives (LTIs) to further drive the commitment and implementation of actions across the organization. In 2024, Neste's renewed short-term incentive plan (STI) was implemented to support business performance. Details of the remuneration structure including sustainability-related performance measures are provided in the Remuneration report on pages 84-89.

Integration of sustainability-related performance in incentive schemes

NNIT group has not yet included sustainability-related performance in the incentive schemes for the Executive Management, or other incentive schemes. Historically sustainability-related metrics have not been at a sufficiently high maturity level to link incentives with performance. We will evaluate this again in 2025.

Diversity in the Board of Directors and Management

As of December 31, 2024, five out of six shareholder-elected board members were male, and one was female (83/17%), and four of the six shareholder-elected members are considered independent (44% of the board).

Three members of the board are employee elected board members out of which two were males, and one was female (67/33%).

In total, the Board of Directors has seven male and two female (78/22%) members.

The Board of Directors remains committed to having international members of the Board. Currently, two shareholder-elected board members are non-Danish.

The 2025 target of having at least 30% of the underrepresented gender on the Board of Directors as well as in management levels is fulfilled for the management group. We are still committed to working towards the target for the Board of Directors.

New targets will be set in 2025.

¹ 2023 figure does not include SCALES, SL Controls and Excellis.

Novabase's Remuneration Committee is appointed by the General Meeting and it is charged with establishing the remuneration of each member of the governing bodies, in accordance with the Remuneration Policy approved at the General Meeting of 25 May 2021. Point 69 of the Corporate Governance Report contains more details regarding the policy and structure of the remuneration of the company's governing bodies.

The Compensation Committee determines performance measures (including those related to ESG) for executive compensation and, together with the Risk Committee, reviews Novartis compensation systems to ensure they encourage behaviors that support sustainable value creation.

For more information on compensation, see our Annual Report 2024.

Remuneration

Executive remuneration is linked to financial performance as well as non-financial performance (e.g. innovation and sustainability). Novo Nordisk has prepared a separate Remuneration Report describing the remuneration awarded or due during 2024 to the Board of Directors and Executive Management members registered with the Danish Business Authority. The Remuneration Report is submitted to the Annual General Meeting for an advisory vote. The Remuneration Policy and the Remuneration Report are available at: www.novonordisk.com/about/corporate-governance.html.

Strategic Aspirations integration

Our commitment to sustainability is reflected in our incentive programmes, which incorporate our Strategic Aspirations 2025 into both individual and corporate performance targets. This highlights our dedication to driving sustainable growth and creating long-term value for all stakeholders.

The Remuneration Committee dealt with matters such as the target achievements of the expired incentive plans and setting targets in the new plans. In addition, the remuneration policy for the Supervisory Board was revised and approved by the Annual General Meeting.

To support the Board in its duties, the Audit, Nomination and Remuneration Committees have been established. Each committee is responsible for carrying out various preparatory tasks within the Board's key areas of responsibility.

The Remuneration Committee is responsible for incentive schemes and remuneration, including those related to sustainability. More information can be found in the Remuneration Report.

Qt does not have incentive or remuneration schemes related to sustainability matters.

Randstad's rewards structure is transparent and aligned with both personal achievements and company success, ensuring that hard work is recognized and valued. Remuneration is based on real outcomes, including behaviour and professional development, and assessed regularly. Annual remuneration processes account for external market developments to remain competitive.

To encourage employees' affiliation with Randstad and enable them to share in success, the company incentivizes employees to participate in a share purchase plan. In 2024, the program was relaunched to give employees further flexibility. For senior leadership, Randstad offers long-term incentives, including a performance share plan, to retain the best people and to reward sustained performance.

The development of people is a shared responsibility. The performance management process is based on the Great Conversations program, covering all employees. As well as regular business and performance reviews, employees and managers meet at least once a quarter for a constructive, future-focused conversation focusing on development areas and ambitions, as well as output.

Directors receive fixed remuneration for fulfilling their supervisory and decision-making duties. Aside from the remuneration payable to the Chairman of the Board of Directors, remuneration is calculated by assigning points for seats held on the Board or its various committees, or for holding specific positions on those bodies. Each point has a remuneration equivalence, meaning there is no difference in remuneration by gender.

Detailed information regarding the application of the Remuneration Policy for Directors is set out in Repsol's Annual Report on Directors' Remuneration, included in Appendix VII and available at www.repsol.com.

Integration of sustainability-related performance in incentive schemes

Remuneration components, which include sustainability targets, serve to further strengthen sustainable positive corporate development. The implementation of measures in the areas of environmental, social and governance have been taken into account for the members of the Executive Board in the LTI and STI with 20% each since fiscal 2022. For managers, this also applies since fiscal 2022 in the STI and since fiscal 2024 in the LTI.

Executive Board Remuneration Structure

The Human Resources and Compensation Committee prepared for the Supervisory Board plenary in the meetings in February, March, April, September, October and November 2024, among other things, topics such as the content and structure of the target agreements, the degree of achievement for fiscal 2023 as well as the setting of the objectives, ranges and calculation basis for the variable remuneration of the Executive Board in 2024.

The extraordinary meeting of the Supervisory Board on 4 March 2024 served to discuss the results of the HR and Remuneration Committee and its adoption of a resolution. The proposed resolution for the achievement of the STI 2023 (Short Term Incentive) target and for the achievement of the EBT and OFCF target were discussed, which were each accepted with abstention. We also discussed 2024 targets by calibrating ESG targets, the 2024 LTI (Long Term Incentive) tranche and the 2023 Compensation Report.

In determining the variable remuneration of the Executive Board members, the Supervisory Board also agreed non-financial targets with the members of the Executive Board in 2023 for 2024 and in 2024 for 2025. These non-financial targets are mainly attributable to the area of sustainability (managing demographic change, reducing the number of accidents, increasing the proportion of women in management positions, securing the supply of green electricity).

The variable remuneration amounts granted to Executive Board members are 36 % based on shares. The Supervisory Board considers this proportion appropriate.

Incentives schemes contingent on ESG criteria

There are two incentive schemes which include ESG performance criteria: • the Chief Executive Officer's variable compensation policy (short-term incentive, STI); and • the performance shares plan (long-term incentives, LTI).

The individual performance criterion based on CSR accounts for 10% of the CEO's annual variable compensation.

Furthermore, 20% of the variable compensation of the Executive Committee members is contingent upon achieving targets regarding human capital and climate-related issues.

The compensation policy for the CEO is established by the Board of Directors.

Since 2023, performance share plans — Sanofi's long-term incentive scheme awarded to senior employees — have incorporated two CSR performance criteria, accounting for 10% in the current plan. The performance criterion equates to the achievement over a three-year period of annual targets linked to the following pillars of Sanofi's CSR strategy: • Affordable Access (5%) – providing essential medicines to non-communicable disease patients through Sanofi Global Health; • Planet Care (5%) – Carbon footprint reduction, Scope 1 & 2 emissions (% GHG reduction versus the 2019 baseline).

Details on the annual targets are reported in the plan's brochure made available to the beneficiaries. At the end of the period, the Board will determine the allocation rate corresponding to the CSR targets met.

Integration of sustainability-related performance in incentive schemes

As part of the Executive Board compensation system, the Supervisory Board set performance targets for the short-term incentive (STI) 2024 and grant amount for the 2024 tranche of the long-term incentive (LTI) 2024. The Personnel and Governance Committee extensively prepared the Supervisory Board's deliberations and resolutions on Executive Board compensation.

At the November 2024 meeting, the Supervisory Board adopted the adjustment to the targets and achievement levels in the Executive Board's STI and LTI plans. The Committee also prepared the resolution on replacing the operating margin increase with free cash flow as one of financial key performance indicators (KPIs) in the STI 2025, as investors are now placing much greater importance on free cash flow than on the increase in operating margin.

From the 2025 tranche of the LTI 2024, total revenue will replace software license, support, and service revenue, and cloud revenue, as the revenue KPI. The Supervisory Board has given greater weight to cloud revenue to reflect its relevance to the Company's cloud transformation.

The Supervisory Board ascertained that, in terms of amount, structure, and objective criteria, the Executive Board members' compensation for 2024 was reasonable and appropriate, and proportionate to the Company's financial situation, profit, and outlook. An independent opinion obtained from an outside compensation consultant informed this decision.

Integration of sustainability-related performance in incentive schemes

The remuneration policy for Siili's governing bodies is defined by the principles governing the remuneration of the Company's Board of Directors, chief executive officer and deputy CEO, if any. The remuneration policy has been prepared in accordance with the Shareholder Rights Directive ((EU) 2017/828), which is primarily implemented in the Finnish Limited Liability Companies Act (264/2006, as amended), the Securities Markets Act (746/2012, as amended), Decree 608/2019 of the Ministry of Finance and the Corporate Governance Code.

Siili's remuneration principles and the total remuneration of the administrative, management and supervisory bodies are described in more detail in the Remuneration Report and Remuneration Policy. The objective of the remuneration policy is to promote the Company's strategy, long-term financial success and the sustainable growth of shareholder value. Siili's sustainability targets or climate-related actions are not linked to the remuneration system.

Integration of sustainability-related performance in incentive schemes

Management Board Remuneration Structure

The Nomination and Remuneration Committee dealt with Management Board remuneration, target setting for variable remuneration components, and short and long-term succession planning during the fiscal year.

Variable Remuneration Determination Process

At the Supervisory Board meeting on 30 January 2024, based on a recommendation from the Nomination and Remuneration Committee, the Supervisory Board:

• Determined the payout of the variable Management Board remuneration for the 2023 fiscal year
• Confirmed the pre-agreed performance criteria for the variable remuneration of the Management Board for the 2024 fiscal year

ESG Performance Integration

While the specific details of sustainability-related performance criteria in incentive schemes are not fully detailed in this excerpt, the Company has demonstrated strong commitment to ESG performance through:

Environmental Performance:

• Net zero emissions commitment with partnership for CO₂ removal (1,200 tons over six years)
• Maintained strong environmental ratings from leading ESG rating agencies

Social Performance:

• Educational initiatives including cyber robotics competitions and coding workshops
• Diversity and inclusion focus in workforce management
• Data protection certifications and privacy commitments

Governance Performance:

• Strong ESG ratings maintained (MSCI AAA rating, improved ISS ESG rating)
• Inclusion in STOXX DAX ESG 50+ Index
• Robust cybersecurity and data protection frameworks

Committee Oversight

The Nomination and Remuneration Committee takes into account:

• Statutory minimum gender representation requirements
• Company targets for the proportion of women on the Management Board and Supervisory Board
• All gender representation targets were met or exceeded during the reporting period

ESG Integration in Strategic Planning

The Management Board reports regularly to the Supervisory Board on sustainability strategy as part of comprehensive reporting on strategy development and implementation, indicating that ESG considerations are integrated into executive decision-making and performance evaluation processes.

Integration of ESG in Incentive Plans

As part of the strategy, Tietoevry has made a long-term commitment to sustainability by increasing the focus on Environmental, Social and Governance (ESG) aspects. ESG measures were introduced in the Long-term incentive Plan 2022–2024 and have been continued since, i.e. in the plans that were implemented in 2023 and 2024 and will also be continued in the LTI 2025–2027 plan. We stay committed to our ESG agenda and continue the measures being CO2 emission reduction and female recruits, both measures with an increased weighting compared to when they were introduced. The target levels, as disclosed below, are based on the long-term ambitions of the company and support the execution of the strategy.

Long-term Incentive Plans Performance Criteria:

LTI 2022–2024: • ESG: CO2 emission (5%) - Target: 72% reduction from 2020 baseline by the end of 2024 • ESG: Female recruits (5%) - Target: 35% by end of 2024

LTI 2023–2025: • ESG: CO2 emission (10%) - Target: 87% reduction from 2020 baseline by the end of 2025 • ESG: Female recruits (10%) - Target: 37% by end of 2025

LTI 2024–2026: • ESG: CO2 emission (10%) - Target: 90% reduction from 2020 baseline by the end of 2026 • ESG: Female recruits (10%) - Target: 38% by end of 2026

LTI 2025–2027: • ESG: CO2 emission (10%) - Target: 40% reduction from 2024 baseline by the end of 2027 • ESG: Female recruits (10%) - Target: 39% by end of 2027

Integration of sustainability-related performance in incentive schemes

Long-term incentive plans The long-term incentive schemes include ESG targets as part of the performance criteria. The proportion of women in executive and senior management teams is one of the KPIs included in the long-term incentive plans, with a target of > 25% by 2030. In 2024, we achieved 21.6%.

ESG performance targets Sustainability metrics are integrated into management performance assessment and compensation schemes, including:

• Carbon footprint reduction (target: 100% carbon neutrality in own operations by 2030 - scopes 1 and 2)
• Diversity targets (> 25% female executive and senior management by 2030)
• Safety performance (accident rate LTIFR < 1.0)
• Innovation linked to SDGs (target: at least 70% of turnover linked to SDGs)

Remuneration policy alignment The remuneration policy ensures that sustainability performance is reflected in executive compensation through both short-term and long-term incentive components, aligning management behavior with the company's sustainability objectives and stakeholder interests.

Integration of sustainability-related performance in incentive schemes is detailed in section 4.2 Compensation of corporate officers. Sustainability criteria are incorporated into executive compensation schemes to align management incentives with the Company's sustainability objectives.

Sustainability-related performance – including climate-related considerations – has not been integrated into WithSecure's incentive schemes. The incentivising metrics and methods need to be adequately functioning and serve WithSecure's business model and operational industry. WithSecure explores potentially suitable metrics and inclusion methods of sustainability-related matters into incentive schemes.

The due diligence approach aims to reduce the probability and exposure of the Group to risks and impacts and to seize opportunities that impact sustainable value creation. The Group takes on and promotes a series of principles that must govern its actions:

a) To understand due diligence as a continuous, dynamic process to identify and manage risks and adverse human rights and environmental impacts related to the Group's business activity and its partners in the business chain.

b) To address issues with suitable measures proportional to the severity and likelihood of the actual or potential risks and adverse effects.

c) To integrate due diligence into management systems and procedures, promoting alignment between the different internal departments.

d) To repair any actual adverse effects caused by the Company or its subsidiaries through the implementation of remediation measures proportional to the Group's degree of involvement in producing the adverse impact.

e) Collaborate with partners in the business chain to improve the effectiveness of implemented preventive or corrective action plans.

f) Establish free, accessible, and non-retaliatory complaint, participation, and consultation mechanisms for stakeholders to communicate and participate in the management of adverse effects.

g) Disclose and publicly report information on due diligence processes and measures taken to identify and manage actual or potential adverse effects, including findings and outcomes.

These principles will be taken into account in the management of IROs. They were incorporated in the development of the new Sustainability Due Diligence Policy, which was approved at the beginning of 2025; a project to establish and implement the due diligence model is now underway. This model integrates the company's existing management practices in this area. Some of the included sources of information (ethics channel, customer complaints, stakeholder consultations, etc.) have already been considered in the dual materiality analysis to identify material IROs.

Statement on due diligence

In 2023, Amadeus started to update its due diligence process in the field of human rights and environment, following the UN Guiding Principles on Business and Human Rights and the OECD Guidelines for Multinational Enterprises, with the support of an external expert.

The goal of this process is to prevent and mitigate potential human rights and environmental impacts in which Amadeus and its value chain, with special focus on third parties, might be involved in, while meeting the expectations and requirements of relevant stakeholders, including incoming regulation.

Initial Approach (2023) • Broad identification of actual and potential impacts on human rights and the environment of Amadeus own operations and its value chain and prioritization of general areas where adverse impacts are more likely to occur and be more severe. • Evaluation of the effectiveness of implemented control measures. • Recommendations for future improvements and next steps.

2024 Developments During 2024, Amadeus continued to evaluate and prioritize potential adverse impacts on human rights by introducing and aligning them with the double materiality assessment process. Additionally, at the end of 2024 a project kicked off to evaluate and improve the stakeholder engagement when assessing impacts and risks, including human rights related. Additionally, human rights continue to form part of Amadeus' risk management framework.

Core Elements of Due Diligence

Embedding due diligence in governance, strategy and business model Due diligence procedure is incorporated in business processes through Amadeus' policies and rules, including: • Sustainability policy • Human Rights Policy • Environmental Policy • People Policy • Anti-Bribery & Anti-Corruption Policy • Code of Ethics and Business Conduct • Community Impact and Charitable Donations Policy • Group Purchasing Policy • Amadeus Code of Ethics and Business Conduct for third parties • Enterprise Risk Management Policy • The Sustainability Strategy - "ESG Ambition"

In 2024, the Human Rights policy has been renewed. This Policy takes as a reference the United Nations Global Compact, the Universal Charter of Human Rights, ILO Declaration on Fundamental Principles and Rights at Work, UNGPs and the European Social Charter and the OECD Guidelines for Multinational Enterprise.

Engaging with affected stakeholders Stakeholders have access to up-to-date information about the Company, primarily through publications and channels, containing financial and non-financial information, available at the Amadeus' website. Additionally, Amadeus engages in dialogue with its stakeholders on a regular basis, based on their needs, using different communication channels.

Identifying and assessing adverse impacts Due diligence process involves the analysis of potential adverse impacts on human rights and the environment from Amadeus' own activities and its value chain. It starts by an initial identification of the impacts, classified in six themes that cover topics outlined in the ESRS: • Climate change • Environmental management • Labor, including diversity, equity, and inclusion • Cybersecurity • Ethics and integrity • Social responsibility

Taking actions to address adverse impacts Based on regular analysis and impact assessments, Amadeus designs, implements and monitors concrete measures to prevent and mitigate potential adverse identified human rights and environmental impacts, derived from both the Group's operations and the entire value chain.

Monitoring effectiveness Amadeus has a Speak Up Channel available through the corporate website and the intranet. This channel enables communications from Amadeus employees and other stakeholders and is regulated by the Speak Up Policy.

During 2024, there is no record of any human rights violations received through the Speak Up Channel or otherwise, so no remedial action was required in this area.

Amadeus will continue to improve the systematic implementation of the human rights and environmental due diligence in its business processes, in compliance with the UNGP and OECD guidelines.

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.

The Group takes into account sustainability risks in its assessment, management and control processes through the activities carried out.

In this respect, Banco Sabadell Group has a Sustainability Policy, which aims to provide a framework for all of the Institution's activity and organisation within ESG parameters. The Policy incorporates environmental, social and governance factors in decision-making and, at the same time, based on those factors, it responds to the needs and concerns of all of its stakeholders. The Sustainability Policy sets out the core principles on which the Group bases its approach to tackling the challenges of sustainability, and defines the corresponding management parameters, as well as the organisation and governance structure required for their optimal implementation.

Effective integration of environmental, social and governance risks into management arrangements requires a strategy and set of regulations that establish the guidelines, targets and limits required at different points of the credit approval workflow. The Bank therefore attaches great importance to the assessment of the climate-related and/or environmental, social and/or governance risks of its counterparties.

In terms of social risks, various social factors are considered, such as those related to rights, well-being, and the interests of people and communities. The risk of loss arising from any negative financial impact on counterparties stemming from the current or prospective impacts of social factors is also included. To that end, a series of actions linked to the process for identifying, measuring and managing social risk for both retail and business customers have been implemented.

The Group therefore has an Environmental and Social Risk Framework that consolidates the set of applicable criteria (sectoral standards) that are intended to limit the financing of customers or projects that the Institution considers to be contrary to the transition to a sustainable economy or that lack alignment with international regulations or best practices in the industry.

The Framework also integrates compliance with the rules and standards at the level of social risk, some sector-specific and others of general application, such as the International Labour Organisation (ILO) Conventions and the UN Guiding Principles on Business and Human Rights. The general exclusions limiting the financing of companies with a high level of social risk are:

a. Companies for which Banco Sabadell has sufficient reason to believe that they employ child labour or forced labour, as defined in the ILO conventions, or that have participated in human rights violations and/or that do not follow the principles of the Institution's human rights policy.

b. Companies involved in the resettlement of indigenous or vulnerable groups without their free, prior and informed consent, or that otherwise infringe the rights of those groups.

c. Companies for which Banco Sabadell has sufficient reasons to believe that they are in material breach of applicable laws and regulations in relation to human rights and the environment, even if the circumstances in question do not constitute a breach of the local legislation of each country.

d. Companies that do not have health and safety policies in place to protect their workers, such as OHSAS 18001 or ISO 45001.

On the other hand, the Group has a Human Rights Policy and a related Due Diligence Procedure, both approved in 2021, which are reviewed annually and are applicable to all Group companies. They establish basic principles of action, as well as the mechanisms required to identify, prevent, mitigate and/or remedy any potential negative impacts on human rights that the Bank's activities and processes may entail, in particular with regard to granting finance to companies, or in relation to its human resources management model or supplier engagement processes. They also establish the need for employees to receive training in all of these areas.

The Group also has a new version of the Group Code of Conduct, first approved in 2021 by the Board of Directors, which underwent an in-depth review to adapt it to regulatory requirements, supervisory guidelines and specifications, and to market standards. Every member of the Group's workforce was required to read and expressly accept the new version of the Group's Code of Conduct.

Core Elements of Due Diligence

As an international chemical company, we will continue to operate in markets and countries with different requirements and conditions. We are guided by our values and our global standards in order to act responsibly and secure our license to operate. The main guidelines are summarized primarily in our BASF policies on compliance, human rights, labor and social standards and in the Supplier Code of Conduct. With appropriate management and monitoring systems, we want to ensure that we act in line with the applicable laws and uphold our responsibility to the environment and society.

Statement on due diligence

Human rights due diligence

BBVA aims to contribute to the respect for Human Rights. This is why it frames this willpower in the Group's General Sustainability Policy and aligns it with its Code of Conduct. This policy is aligned with the International Bill of Human Rights, the Guidelines of the Organization for Economic Cooperation and Development (OECD) for Multinational Business, and the fundamental conventions of the International Labor Organization, among others.

Specifically, as provided in the General Sustainability Policy, the Group ensures compliance with all applicable laws and respect for internationally recognized human rights in all its relations with employees, customers, shareholders, suppliers and, in general, with the communities in which it conducts its businesses and activities.

Human Rights Due Diligence Process

Since 2018, the BBVA Group has carried out two global Human Rights Due Diligence exercises with the aim of preventing, mitigating and remedying potential impacts on human rights (such as human trafficking, forced labor, child labor, freedom of association and collective bargaining and, equal pay or discrimination).

Through it, BBVA has analyzed the following aspects:

• Identification of the main issues or potential impacts of operations
• Improvements within BBVA to try to prevent and mitigate these impacts
• The availability of channels and processes that facilitate grievance management

BBVA identifies the social and labor risks that arise from its activity in the different areas and countries in which it operates in order to manage the potential impacts generated, through the entity's ordinary risk management processes, or through standards and existing processes that integrate the human rights perspective, such as the Equator Principles.

ESG assessment and monitoring of customers

BBVA obtains ESG information from its customers and third parties to assess and monitor the ESG suitability of customers and deals.

Wholesale customers

BBVA assesses and monitors its wholesale customers under 4 dimensions:

• Their activities with special focus to those with potential negative environmental and social impact, covered under the Environmental and Social Framework
• Their transition risks leveraging on Transition Risk assessment tools
• Their behavior / controversies: Encompassed in the ESG controversies management procedure
• Their projects assessed under the Equator Principles

Environmental and Social Framework

The Environmental and Social Framework aims to establish criteria for the identification, assessment and monitoring of certain activities of the following sectors, selected for their high potential impact on nature and society: mining, agro-industry, energy, infrastructure and defense. The Framework identifies restrictions, either via prohibited activities or activities requiring special attention in these sectors.

BBVA, with the support of an independent advisor, analyses whether wholesale customers covered by its Framework do not engage in prohibited activities. It also analyses whether they engage in an activity requiring special attention, in which case BBVA assesses the environmental and social impacts derived from the activity to be financed.

Equator Principles

In 2004, BBVA signed the Equator Principles (EP), which establish standards for environmental and social risk management in project financing. Currently in their fourth version (EP4), these principles are applied globally in all industrial sectors.

In accordance with the EP, BBVA subjects each project under the scope of EP4 to an environmental and social due diligence analysis, considering impacts on environmental and human rights. Each deal is classified according to its risk level (categories A, B or C).

Regarding the human rights assessment and in accordance with the EP, BBVA requires due diligence on projects that may impact indigenous communities. In cases where this circumstance occurs, the free, prior and informed consent of these communities must be obtained, regardless of the geographic location of the project.

Legislative engagement

In 2024, BBVA has continued to take an active role in the field of future EU legislative initiatives, participating in the Working Groups on Sustainable Finance. BBVA contributes its opinion to the development of sectoral positions on various EU initiatives, including the work of dialogue and support with the European regulator in relation to the development of the directive on corporate due diligence in matters of sustainability.

The BMW Group has implemented comprehensive due diligence processes across its operations and value chain:

Human Rights Due Diligence

The due diligence processes for respecting human rights and related environmental standards apply to:

• Our own business
• Our suppliers
• Our other business partners

Supply Chain Due Diligence

Organizational Structure: In 2024, responsibility for developing procedures and implementing due diligence processes in the supply chain was firmly embedded in the purchasing strategy and strengthened by the establishment of a dedicated department.

Standards and Requirements: The ↗ BMW Group Supplier Code of Conduct stipulates that affected (local) communities, and indigenous peoples especially, must also be taken into account and protected across the supply chain.

Risk Assessment and Site Evaluation

Environmental Assessment: All sites that require an environmental assessment and approval under national law are subject to due diligence processes. This includes:

• All production sites
• Component production facilities
• Research and Innovation Centre (FIZ)
• Test tracks
• Distribution centres

New Site Assessment: New sites are assessed for impacts and risks using:

• Environmental due diligence
• Environmental impact analysis
• Climate risk assessments
• Baseline assessments of biodiversity (where required)

Materiality Assessment Integration

The Company's established environmental, social and governance due diligence processes form the starting point for identifying impacts on the environment and society along the BMW Group value chain as part of the materiality assessment.

Stakeholder Engagement

Maintaining an ongoing dialogue with civil society, affected communities and other relevant stakeholders in the supply chain is a key component in the approach to dealing with critical raw materials.

Grievance Mechanisms

Stakeholders can report compliance-related concerns through:

• The ↗ BMW Group Compliance Contact
• The ↗ BMW Group SpeakUP Line (available in all countries where BMW Group employees work via local, toll-free telephone numbers in more than 30 languages)

The BMW Group is involved in RBA Voices, a standardised, cross-industry grievance mechanism available for download from the Apple App Store and the Google Play Store.

Statement on due diligence

Crayon Group is committed to conducting business in accordance with high ethical standards and in compliance with applicable laws and regulations. The Company has established policies and procedures to ensure responsible business conduct throughout its operations and value chain.

Our wide-ranging ESG initiatives contribute to our business strategy and business success by helping to strengthen relationships with existing and potential customers worldwide, across all our lines of business. Some of our ESG initiatives have the co-benefit of enabling us to anticipate and comply with regulatory requirements, mitigating the financial and reputational risks associated with regulatory non-compliance.

The Group Treasury overlooks the credit risk on a centralized level whilst the subsidiaries are responsible for performing credit check and control, enforcing payment terms and conditions towards the clients.

Crayon faces credit risk for the full amount of any gross sales invoiced on behalf of the software supplier, even when acting as an agent and only recognising net revenues on reseller business. This also includes situations with disputes between the software vendor and the end user related to services delivered or consumed. In such cases, Crayon engages in dialogue with both the end user and with the software vendor in order to agree on balanced solutions.

Responsibility for employee health and safety at Crayon is shared between the Human Resources and Trust Unit teams. Sound safety and health practices are integral to our operations, and we comply with all local workplace safety regulations.

The Group strives to be a workplace where there is no discrimination and endeavors to promote the objectives of the Norwegian Anti-Discrimination Act in its operations with regard to recruitment, wages and working conditions, promotion, development opportunities and protection against harassment.

Statement on due diligence

As part of the Danske Bank Group, Danica supports a number of international sustainability initiatives and standards. These include: • the 2030 Agenda and the UN Sustainable Development Goals • the UN Global Compact • the OECD Guidelines for Multinational Enterprises • the UN Guiding Principles on Business and Human Rights • the UN-supported Principles for Responsible Investment • the UN Environment Programme Finance Initiatives • the ILO Declaration on Fundamental Principles and Rights at Work • the Universal Declaration of Human Rights • the Paris Pledge for Action • the Poseidon Principles • the Responsible Ship Recycling Standards • the UN Principles for Responsible Banking • the Net-Zero Asset Owner Alliance • the Finance for Biodiversity Pledge • FAIRR

Danica regularly performs sustainability due diligence processes, for example in relation to responsible investments, employee engagement, human rights, etc.

The table below describes where in the Sustainability Statement relevant information about due diligence processes is found:

Due Diligence Framework: Danone maintains a comprehensive due diligence approach as part of its risk management and compliance framework. The Company has developed internal policies and procedures relating to compliance that are integrated into its internal control system.

Legal and Regulatory Compliance: As a player in the food and beverage industry active in many countries, Danone operates in a complex, changing and increasingly stringent regulatory environment. The Company has developed a General Secretary organization including General Counsel (Legal, Regulatory Affairs and Compliance) departments at local and central levels.

Compliance Management: The Group and its subsidiaries, assisted by their General Counsel teams and/or external legal advisors, take steps to:

• Ensure compliance with applicable laws and regulations
• Request administrative authorizations when necessary
• Identify new applicable regulations
• Monitor claims, litigations, and legal proceedings

Sustainability Due Diligence: Danone has implemented due diligence processes related to sustainability topics, particularly in response to emerging regulations such as:

• Corporate Sustainability Reporting Directive (CSRD)
• Corporate Sustainability Due Diligence Directive (CS3D)
• Various packaging and environmental regulations

Supply Chain Due Diligence: The Company has launched a Sustainable Sourcing Policy (SSP) in 2024, integrated into contract clauses between Danone and its direct suppliers, covering:

• Environmental standards
• Social responsibility requirements
• Human rights considerations
• Packaging circularity commitments

Risk Assessment Process: Due diligence is embedded in the annual strategic risk mapping process, which identifies, assesses, and manages material impacts, risks and opportunities across the value chain.

Statement on due diligence

Human Rights Due Diligence

Eni guarantees respect for human rights in the context of its activities and promotes them with its partners and stakeholders, also pursuing operations based on the values of responsibility, integrity and transparency.

Respect and promotion of Human Rights through the implementation of the Human Rights Management Model, impact analysis and the integration of Human Rights perspective in the business processes is part of Eni's approach to managing relationships with local stakeholders.

Supply Chain Due Diligence

Eni promotes the sustainable development of its supply chain, recognizing its key role in the transformation path undertaken. Through a systemic and inclusive approach, Eni shares values, commitments and targets with its suppliers, supporting and involving them in the growth path.

ESG Assessments in Procurement

• Maintenance of ESG assessments in proceedings for more than 90% of the Italian procurement by 2025 compared to 2023
• Proceedings with ESG assessments for 90% of foreign procurement by 2026 vs. 2023
• 100% of strategic worldwide suppliers assessed on the path to sustainable development by 2025

Global Supply Chain Management

Eni's operations use a global supply chain for the procurement of capital goods, raw materials, works and services. The main assets procured were logistics support for the well area and ancillary services, offshore installations, engineering services for the oil and gas sector, professional services and well drilling services.

Stakeholder Engagement Due Diligence

Continuous dialogue with stakeholders to disclose the Eni's sustainable approach, also through social and local development projects and local content valorization, and collaboration agreements with national and international organizations towards Public Private Partnership (FAO, UNDP, UNESCO, UNIDO).

As part of F-Secure due diligence we identify, mitigate, and account for how we have addressed actual and potential negative impacts connected to our business, our operations and value chain, our offering and business partners. Due Diligence is an ongoing practice that responds to and may trigger changes in our ESG governance, strategy, business model, activities and processes, business partners, operations, or sourcing. For further details, also see chapter on ESG governance and the role of administrative, management and supervisory bodies and the section on Governance.

Engagement with stakeholders

Through mapping all relevant stakeholders and conducting regular stakeholder engagement, F-Secure ensures an effective corporate sustainability due diligence process. The mapping includes employees, customers, suppliers, investors, and government bodies. We will review the stakeholder map when significant changes in the business model and strategy occur or if new impacts are identified as part of our IRO reviews and as described further under IRO-1 section.

On adverse impacts

Addressing and taking action on adverse impacts is conducted in alignment with F-Secure's risk management policy, where risks have an owner to drive mitigation activities. F-Secure uses risk modeling and quantification methods to identify and manage risks effectively. Risks are mitigated and proactively monitored, also building strategic resilience in the Company and its business operations where applicable. F-Secure has not identified any adverse impacts as described under the "F-Secure impacts on people and the environment" section.

Risk management is an integrated part of F-Secure's governance and management, and the risk management process is aligned with the ISO-31000:2018 guidelines. Each function is responsible for tracking the effectiveness of the mitigation activities and aligning with relevant internal or external stakeholders. The Leadership Team and Audit Committee review the risks bi-annually, while the Audit Committee regularly evaluates the effectiveness of the risk management process (internal controls).

Statement on due diligence

The next table shows where key aspects and steps in the due diligence compliance procedure can be found in this consolidated non-financial statement.

Statement on due diligence

We are dependent on the trust of our surroundings to carry out our social mission. A comprehensive understanding of risk, with clear roles and responsibilities, is essential in our corporate governance.

Our Code of Conduct shall ensure that all employees act in a way that maintains trust in the Company. All Gjensidige's activities must stand up to public scrutiny.

Gjensidige's governance structure includes The General Meeting as the Company's supreme governing body, with an independent nomination committee that nominates members to the Board. The Board has overall responsibility for ensuring that the Group is managed responsibly, including responsibility for strategy, finances, the environment, social conditions and compliance with laws and regulations. This includes ensuring that the work on risk management and internal control is organised, documented and reported on in an expedient manner.

Our business is conducted within the framework of our strategy, our ethical principles and strict compliance with laws and regulations in the countries in which we operate. Sustainability is integrated into the strategy and our core processes.

Throughout our history, we have demonstrated social responsibility. This responsibility comes from our role as one of the Nordic region's largest insurance companies, where we have helped our customers by providing advice on damage prevention and been there when the damage was done. Among other things, this means requiring sustainable deliveries from our suppliers in their claims process. Sustainability is an integrated part our business model.

Going forward, Gjensidige will attend to this social responsibility by contributing to a sustainable society, in relation to both our insurance and investment activities. The following factors are particularly important in our sustainability work: GHG emissions and climate change adaptation of our products, circular economy, and how we can ensure that we develop expertise on risks related to the green transition so that we can help mitigate risk.

We define sustainability in line with the UN Sustainable Development Goals. This means that Gjensidige's activities will ensure a balance between climate and the environment, social conditions, good corporate governance and finances. Gjensidige's sustainability work focuses on four areas: a safer society, sustainable claims handling and responsible investments, and order in our own house. Ambitions and action plans will underpin our transition plan towards 2050.

Information on the Group's due diligence processes is incorporated by reference in the chapter Notes to the Consolidated Sustainability Statements.

HUGO BOSS conducts due diligence processes across its value chain, particularly in relation to suppliers and business partners:

Supplier Due Diligence: The Company works with a network of experienced and specialist suppliers, with relationships averaging more than ten years. HUGO BOSS fosters long-term strategic partnerships with its suppliers and sees itself as a strong partner, supporting suppliers in the further development and professionalization of processes and workflows.

Selection Criteria: Alongside economic criteria, HUGO BOSS attaches great importance to environmental and social aspects in the selection of suppliers. The cooperation is based on:

• Respect for human rights
• Compliance with applicable working standards
• Occupational health and safety

Supplier Code of Conduct: The HUGO BOSS Supplier Code of Conduct forms the framework for all supplier relationships, establishing the foundation for due diligence processes.

Supply Chain Transparency: In 2024, the Company successfully rolled out key traceability features to a large majority of supply chain partners worldwide, significantly strengthening transparency across the entire supply chain through the Digital TWIN initiative.

Supplier Network: In fiscal year 2024, HUGO BOSS sourced finished goods from 200 external Tier 1 suppliers operating 271 production facilities, and procured fabrics and trimmings from 382 external Tier 2 suppliers operating 411 production facilities.

KONE integrates due diligence into its governance and strategy by adhering to the Finnish Corporate Governance Code and embedding sustainability into its operations. The company's due diligence and its integration to key processes are supported by KONE Global Management System, Health and Safety Policy Statement, Environmental Policy Statement, Human Rights Policy, Code of Conduct, and Supplier and Distributor Codes of Conduct, which are detailed in the policy sections of the material sustainability topics. KONE emphasizes engagement with stakeholders, including employees, suppliers, and communities.

Supporting KONE's sustainability due diligence, the continuous assessment and identification of impacts, risks, and opportunities is embedded into its processes and policies. In addition to complying with applicable laws, rules, and regulations, KONE has established internal requirements to uphold high environmental and social standards in global activities, as well as for its suppliers and partners.

Statement on due diligence - The risk of providing inaccurate, incomplete or misleading information in the non-financial statement was identified as a material risk. Policies, work instructions and manuals are established in order to identify and reduce risks in the area of sustainability reporting. In this connection, we have developed control mechanisms to ensure the accuracy and completeness of our sustainability reporting and thus the provision of precise, complete and clear information. Our sustainability reporting processes and controls are continually reviewed to ensure they meet changing needs and are adjusted as necessary to improve their effectiveness.

Our fundamental codes – the Code of Conduct and the Supplier Code of Conduct – are derived from the company's corporate vision. These documents apply without exception to all workers and service providers along the value chain. Their purpose is to ensure compliance with laws, standards and policies throughout the company in order to foster a working environment characterised by integrity, respect and fair and responsible conduct. At the same time, the policy documents serve to embed a strong compliance culture within the company, reinforce our values and encourage employees throughout the value chain to report wrongdoing. In the interests of all stakeholders, violations of our codes are systematically investigated and dealt with.

The Group has set out a model of responsible business conduct aimed at preventing, identifying and responding to the risk of corruption.

Thanks to its model, Leonardo SpA has reached the highest level of Transparency International's Defence Companies Index on Anti-Corruption and Corporate Transparency (DCI), in addition to having its ISO 37001 certification, the first international standard on anti-corruption management system, confirmed. Leonardo was the first company in the world's top ten in Aerospace, Defence and Security to obtain this certification. The model also provides for the responsible management of the supply chain, through the qualification, selection and management of suppliers, as well as the adoption of a risk analysis tool within the scope of due diligence audits within the process of engagement assignation to sales promoters, and other third parties.

The Group systematically carries out due diligence activities before and after the completion of partnerships and joint ventures. At this purpose, the active involvement of its top management in any related operation is aimed, among other things, at directing its strategies and identifying and managing any critical issue in a timely fashion.

Below are the main stages of due diligence and their coverage in LEROY MERLIN Spain's sustainability statement:

Essential Elements of Due Diligence:

Integrating due diligence into governance, strategy, and business model:

• ESRS 2 GOV-2: Information provided to administrative, management and supervisory bodies
• ESRS 2 GOV-3: Integrating Sustainability-Related Performance into Incentive Systems
• ESRS 2 SBM-3: Material impacts, risks and opportunities and their interaction with strategy and business model
• ESRS S1-1: Policies related to own personnel
• ESRS S2-1: Policies related to workers in the value chain
• ESRS G1-1: Corporate Culture and Business Conduct Policies

Collaboration with affected stakeholders at all key stages:

• ESRS 2 GOV-2, SBM-2: Stakeholder Interests and Opinions
• ESRS 2 IRO-1: Description of processes for determining and assessing material impacts, risks and opportunities

Identification and assessment of adverse impacts:

• ESRS 2 IRO-1 and SBM-3

Adoption of measures to address adverse impacts:

• ESRS E1-1: Climate Change Mitigation Transition Plan
• ESRS E5-2: Actions and resources related to use of resources and circular economy
• ESRS S1-4, S2-4, S3-4: Actions taken regarding material impacts on respective stakeholders

Monitoring effectiveness and communication:

• Reported specifically in different thematic ESRS across all material topics

Statement on due diligence

Lundbeck has implemented comprehensive due diligence processes to identify, prevent, and mitigate adverse impacts across our operations and value chain, in line with our commitment to responsible business conduct.

Due diligence framework: Our due diligence approach is integrated into our business processes and covers environmental, social, and governance risks. We conduct due diligence across our entire value chain, from research and development through to patient delivery.

Key due diligence processes:

Supply chain due diligence:

• Comprehensive supplier qualification and assessment processes
• Regular audits of critical suppliers including on-site inspections
• Supplier Code of Conduct requirements covering labor standards, environmental practices, and business ethics
• Risk-based monitoring with enhanced due diligence for suppliers in higher-risk jurisdictions
• Corrective action plans and supplier capability building where needed

Clinical research due diligence:

• Rigorous patient safety protocols and adverse event monitoring
• Ethics committee approvals and regulatory compliance verification
• Clinical trial site assessments and monitoring
• Patient consent processes and data privacy protections
• Diversity and inclusion commitments in clinical trial design

Environmental due diligence:

• Environmental impact assessments for manufacturing operations
• Regular monitoring of air, water and soil impacts
• Waste management and chemical safety assessments
• Climate risk assessments including physical and transition risks

Business ethics due diligence:

• Third-party risk assessments including anti-corruption screening
• Know Your Customer (KYC) and sanctions screening processes
• Regular monitoring of business partners and intermediaries
• Whistleblower and grievance mechanisms

Effectiveness and continuous improvement: We regularly evaluate the effectiveness of our due diligence processes and make improvements based on learnings, stakeholder feedback, and evolving best practices. This includes updating our risk assessments, enhancing monitoring systems, and strengthening our supplier and partner requirements.

We implement an ongoing process of human rights due diligence to identify, assess and address adverse human rights impacts across our business operations and value chains. Stakeholder engagement is a key component of Neste's human rights due diligence, extending across our operations, supply chains, and communities. When assessing human rights risks, we pay special attention to vulnerable groups such as women, children, migrant workers and Indigenous Peoples.

Neste has put in place ongoing management processes to identify, prevent, mitigate and remedy adverse human rights impacts. We continuously monitor and track the effectiveness of our response, with transparent reporting and communication on how impacts are addressed.

All Neste´s renewable raw material suppliers are subject to rigorous sustainability due diligence, as stated in Neste's Supplier Sustainability Approval Principle. It sets the minimum sustainability requirements for approving suppliers through a multi-step process, including raw material evaluation, risk assessments, counterparty screening, a sustainability review and audits.

Statement on due diligence

The table provides a mapping of where in our Sustainability Statements we provide information about our due diligence process, including how we apply the main aspects and steps of our due diligence process.

Novabase Group is solidly committed to due diligence in all of its operations, ensuring that all of its corporate processes and decisions are conducted with integrity, transparency and responsibility. Accordingly, a structured approach is undertaken in order to identify, assess and mitigate risks related to human rights, environmental impact and corporate governance, protecting the interests of Novabase shareholders and those of other stakeholders, providing access to clear information about how risks and opportunities are managed with respect to Group business.

The table below lists key information relating to sustainability due diligence as conducted by Novabase:

Human rights due diligence

We manage our program through three pillars, aligned with the UNGPs: due diligence, internal empowerment, and stakeholder engagement.

Due diligence: We conduct ongoing human rights due diligence across our business and ensure that we have policies and management systems in place to support our commitments. External partners are regularly assessed and monitored against the labor and human rights provisions set out in our Third Party Code.

We have a monitoring system in place that tracks remediation actions regarding human and labor rights at external partner sites, and their successful resolution through time-bound corrective action plans. We collaborate with industry partners such as the Pharmaceutical Supply Chain Initiative (PSCI) on topic-specific supply-chain projects.

Supply chain due diligence

Our external partner risk management (EPRM) framework enables risk management in a single, mandatory process and system as part of our integrated assurance system. The framework comprises governance, processes and internal controls, and applies a risk-based approach.

The due diligence efforts are applied in proportion to the level of identified risk, which is determined by the probability and severity of potential adverse impacts. We carry out risk assessments and selected audits among external partners in various risk areas including human rights; health, safety and environment; labor rights; information security; anti-bribery and corruption, and; business continuity management.

All suppliers are subject to risk assessments when we engage with them and at a regular frequency thereafter. Suppliers flagged for high risk are subject to an onsite audit by our integrated assurance team.

Main activities in 2024

In early 2024, we completed our company-wide annual human rights risk saliency assessment. This reaffirmed our focus on four previously identified priority areas.

In alignment with the evolving regulatory landscape on value chain due diligence, we also enhanced our external partner labor rights due diligence and risk assessment framework.

We concluded a pilot project aimed at engaging directly with workers in our supply chain. This involved a comprehensive survey on working conditions. To address the survey's findings, we are actively providing ongoing capability-building support to strengthen our external partners' ability to implement effective solutions.

In 2024, we continued to develop human rights due diligence tools and processes to further support our operations in high risk and conflict-affected markets. These markets present unique challenges that require businesses to adapt their strategies to navigate and operate effectively.

We published a report on our efforts to address modern slavery under UK and Australian legislation, as well as reports on child labor and conflict minerals in our supply chain under Swiss and US legislation, respectively. We also published our second human rights report under the Norwegian Transparency Act.

Our Code of Conduct was updated to align with our Strategy 2030 and new regulatory requirements, such as supply chain due diligence and sustainability management best practices. We strengthened our existing commitments, particularly related to climate change and human rights, and introduced new ones to address emerging material topics like biodiversity, ecosystems, and the rights and welfare of workers in our value chain. These commitments are fundamental to our operations and continued success.

Qt has not yet systematically created or implemented a due diligence process nor has it been incorporated it into the governance model. However, the due diligence process is applied partially, and its steps are described in the following sections of this sustainability statement: • Engaging with affected stakeholders: ESRS 2 GOV-2, SBM-2, IRO-1, S1-2 & S2-2. • Identifying and assessing negative impacts on people and the environment: ESRS 2 IRO-1, SBM-3. • Taking action to address negative impacts on people and the environment: ESRS 2 MDR-A, S1-4, S2-3, G1-3. • Tracking the effectiveness of these efforts: ESRS 2 MDR-M, MDR-T, S1-5, S2-5 and S1 & S2 & G1 topic-specific metrics.

Randstad is committed to preventing or mitigating adverse human rights impacts caused by or linked to operations and services, and addressing such impacts if they occur. As a signatory to the UN Global Compact, the company upholds its Ten Principles on human rights, labor rights, environmental protection, and anti-corruption. The Human Rights Policy defines responsibilities and expectations for talent as well as for employees and external stakeholders regarding human rights issues.

As part of the onboarding program, all Randstad employees are familiarized with business principles and policies. Specifically, they learn about the Human Rights Policy, which aims to prevent violations in operations, services and business relationships with employees, talent, contractors, the self-employed and other stakeholders. All new hires receive information related to the Human Rights Policy in their induction program, and all employees must complete mandatory compliance and refresher training in human rights.

Randstad actively focuses on supporting groups at risk of exclusion, including women, youth, people with disabilities, the LGBTQI+ community, older workers, refugees, migrants and locally-defined underrepresented groups.

This entire process of transforming our business would not be possible without the talent of our employees, who make up a diverse and multicultural team of more than 25,000 people in more than 20 countries and who are our greatest asset. We remain focus on complying with the Global Compact's Ten Principles on human rights, labor standards, anti-corruption and the environment, and on initiatives such as the CEO Water Mandate.

Repsol's corporate governance system is based on the principles of transparency, independence and accountability and is fully compliant with current national and international standards. The Group's corporate structure is aligned with the needs and objectives of the businesses, complies with the applicable legal and tax framework, and avoids the use of artificial and opaque structures.

Due Diligence Statement

Roche conducts due diligence to ensure risks are mitigated and managed across our operations and value chain. We have policies in place as well as a risk management approach to prevent, detect and mitigate risk of potential infringement on human rights and its adverse impacts, including the assessment of whether there are reasonable grounds to suspect child labour.

Risk Management Process: Our Pharmaceuticals and Diagnostics Divisions and global functions conduct a formal risk and opportunity assessment at least once a year and must develop response plans for their most material risks and opportunities. The effectiveness of Roche's risk management process is regularly monitored by the Group Risk Advisory team. The overall process is reviewed by the Audit Committee of the Board of Directors and also externally when appropriate.

Supply Chain Due Diligence: We communicate our expectations to suppliers through the Roche Supplier Code of Conduct. We assess suppliers failing to provide equal pay for work of equal value and suppliers failing to provide a workplace free of harsh treatment, harassment and discrimination.

Human Rights Due Diligence: Roche upholds human rights principles across our own operations and our value chain. In a globalised world, business value chains often span across international borders, giving millions of people an opportunity to participate in the global economy; however, this also brings challenges to ensuring workers' human rights. We have implemented processes to identify, prevent, mitigate and account for actual and potential adverse impacts.

Mapping of core elements of due diligence

Mapping of core elements of due diligence, for impacts on people and the environment, to the relevant disclosures in Sanofi's sustainability statement:

Statement on due diligence

SAP conducts due diligence processes as part of its governance and risk management framework. The Executive Board advised the Supervisory Board about the terms of the settlement agreement that SAP reached with the U.S. Department of Justice regarding ongoing compliance matters. The Supervisory Board and Executive Board agreed that the Company must have a zero-tolerance policy on compliance breaches.

The Supervisory Board discussed with the Executive Board the stipulations of the German Supply Chain Due Diligence Act and the action SAP is taking to ensure responsible AI practices. SAP's Chief Sustainability Officer reported on new statutory reporting requirements and due diligence processes.

The Audit and Compliance Committee regularly discussed ongoing compliance matters, the status of SAP's internal investigations, and its cooperation with authorities on respective cases. The Committee also dealt with the monitoring of SAP's risk management system, internal control system, sustainability reporting, and compliance system.

SAP has established processes to identify, assess, and manage impacts, risks, and opportunities (IROs) related to sustainability as part of its due diligence framework. This process was reported to and discussed by the Supervisory Board and relevant committees throughout 2024.

Statement on due diligence

Siili has integrated compliance with the due diligence obligation into its corporate governance, strategy and administration, which adheres to the Finnish Corporate Governance Code for listed companies. Moreover, Siili has considered material sustainability topics in its strategy process, key business processes and operating systems, policies and ethical guidelines. Siili does not have a separate due diligence process related to sustainability.

Against the background of the existing discussion about simplifying the requirements of the CSRD and the associated legal uncertainty, particularly with regard to the content and scope of the sustainability reporting standards applicable in the future, the Management Board of TAG has decided in favour of partially applying the first set of ESRS as a framework within the meaning of Section 289d HGB for the non-financial Group statement for the 2024 financial year.

Statement on due diligence

TeamViewer has established comprehensive due diligence processes across multiple areas of its operations, as evidenced by the following measures:

Security and Risk Management Due Diligence

Cybersecurity Incident Response: When TeamViewer experienced a cyberattack in June 2024, the company demonstrated robust due diligence through:

• Swift detection, investigation, and remediation of the incident
• Diligent investigation conducted with leading cybersecurity experts from Microsoft
• Confirmation that the incident was contained within the internal corporate IT environment
• Verification that the separated product environment, connectivity platform, and all customer data were not affected
• Transparent communication to ensure customers' continued trust

Third-Party Risk Assessment:

• TeamViewer's IT infrastructure, complete product and solutions portfolio, and relevant suppliers are subjected to detailed audits and stress tests by specialized international security service providers
• Results and potential improvements are discussed at Security Steering Board meetings held every two weeks
• All data centers where TeamViewer processes data are ISO 27001 certified

Data Protection Due Diligence

Privacy Management Framework:

• Company-wide data protection organization integrated within the TeamViewer Privacy Management Framework
• Dedicated internal data protection department within Legal and Compliance
• External, independent Data Protection Officer appointed in accordance with GDPR Article 37
• Complete record of processing activities maintained
• Data protection impact assessments conducted where required
• Technical and organizational measures (TOMs) reviewed at least annually, with last update in October 2024

Certification and Compliance:

• Data protection certification from TÜV Informationstechnik GmbH received in October 2024
• Trusted Site Privacy certificate awarded for TeamViewer Remote and Tensor products
• Compliance with HIPAA/HITECH, SOC 2, SOC 3, and TISAX requirements
• Compliance with EU cybersecurity and data protection requirements per NIS2 Directive confirmed by independent third-party assessment

Product Development Due Diligence

Secure Software Development:

• Secure Software Development Life Cycle (S-SDLC) implemented across all development phases
• Software Bill of Materials (SBOM) maintained for all software components
• Security tests embedded in development phases to identify vulnerabilities
• Responsible Disclosure principle followed with Vulnerability Disclosure Policy (VDP)
• Bug Bounty Program transitioned from private to public model in 2024

Supply Chain Due Diligence

Vendor and Partner Assessment:

• Regular monitoring for unauthorized changes and anomaly detection
• Supply chain attack detection and prevention measures
• Regular security reviews of suppliers and partners
• Business Continuity Management (BCM) to improve organizational resilience

Financial and Operational Due Diligence

Acquisition Due Diligence: For the 1E acquisition announced in December 2024:

• Thorough review of market developments and customer feedback
• In-depth assessment of market opportunities and competitive landscape
• Comprehensive evaluation of strategic advantages and technology integration potential
• Due diligence processes supported the USD 720 million enterprise value determination

Continuous Monitoring and Improvement

TeamViewer maintains continuous due diligence through:

• 24/7 security monitoring via external Security Operations Center (SOC)
• Regular threat intelligence integration
• Quarterly business performance reviews and strategic assessments
• Annual security audits and certifications
• Regular updates to policies and procedures based on emerging risks and regulations

Statement on due diligence

TKH conducts due diligence processes to identify, assess, and mitigate actual and potential negative impacts on people and the environment throughout its operations and value chain.

Supply chain due diligence

• We conduct supplier audits to assess sustainability-related risks, such as raw material extraction impact
• 59.0% of our Tier-1 copper suppliers are certified by The Copper Mark (target > 80%)
• 78.2% of copper suppliers were assessed with our 2024 risk management assessment
• We enter into active dialogue with our strategic suppliers to improve the sustainability of their products and processes

Human rights due diligence

• We assess risks related to child/forced labor and health and safety in our value chain
• Working conditions and other work-related rights in the value chain are regularly evaluated
• We have processes in place to remediate negative impacts and channels for workers to raise concerns

Environmental due diligence

• We consider environmental impact in every business decision we take
• Implementation of energy-saving, emissions and waste reduction programs
• Operation in accordance with ISO 14001 environmental management standards
• Regular assessment of pollution risks related to air, soil, and water

Governance and oversight The Executive Board is responsible for the implementation of due diligence processes, with regular reporting to the Supervisory Board on the effectiveness of these measures and any identified risks or impacts.

The Group has implemented due diligence processes as described in section 5.7 Duty of care plan. This includes procedures to identify, prevent and mitigate serious violations of human rights and fundamental freedoms, serious bodily injury or environmental damage, and health and safety risks that could result from the activities of the company, its controlled subsidiaries, and subcontractors and suppliers with whom established commercial relationships are maintained.

Vestas has implemented comprehensive due diligence processes across its operations and value chain:

Human Rights Due Diligence: Vestas updated its Human Rights Policy in 2024 to reflect evolving best practice and was ranked first in the Danish Institute for Human Rights' benchmark of large Danish companies. The company conducts Social Due Diligence on projects, achieving 83% coverage in 2024 compared to 59% in 2023.

Supply Chain Due Diligence: Vestas works closely with suppliers through various mechanisms including the annual Vestas Supplier Forum and enhanced engagement and integration with supply chain partners. The company maintains risk mitigation frameworks taking into account potential disruption of operations.

Value Chain Oversight: The company has established processes for engaging with value chain workers about impacts and maintains channels for workers to raise concerns. Vestas conducts due diligence across its complex supply chain involving both product and project manufacturing models.

Community Engagement: Vestas engages with impacted communities near projects to minimize and address potential grievances, with community grievance mechanisms in place. The company reported 2 community grievances in 2024 and supported 7,919 community beneficiaries.

Business Conduct: The company maintains policies and processes for prevention and detection of corruption and bribery, with 757 EthicsLine cases reported in 2024, of which 147 were substantiated.

WithSecure's Board of Directors and the President and CEO are responsible for the company's governance. WithSecure's corporate governance practices are based on applicable Finnish laws, the rules of Helsinki Stock Exchange (NASDAQ Helsinki Oy) and the regulations and guidelines of Finnish Financial Supervisory Authority as well as the company's Articles of Association.

WithSecure's sustainability due diligence process ensures that the company identifies, prevents, mitigates and accounts for how WithSecure addresses the actual and potential negative impacts the company might have both in its own operations as well as within the value chain.

Due diligence has been embedded in the governance, strategy and business model of WithSecure. This is showcased through the level of information provided to and the sustainability matters addressed by the company's administrative, management and supervisory bodies.

Core Elements of Due Diligence:

Affected stakeholders are engaged with in all key steps of the due diligence process. Their views were integrated in the double materiality analysis to identify WithSecure's material impacts, risks and opportunities ensuring that they have had the possibility to influence and guide the company's conduct.

WithSecure's due diligence is an ongoing process that responds to changes both in the company's operations as well as the surrounding environment and society. The company is planning on updating its double materiality analysis during the year 2025 to ensure that the most current information and stakeholder views are taken into account.

Acerinox is also developing a Internal Control System over Sustainability Reporting (ICSSR) to guarantee the accuracy and integrity of the data, the availability of qualitative and quantitative indicators throughout the value chain, and the availability periods for information.

To this end, risks related to the reporting of sustainability information, which are not significant, have been identified in collaboration with the internal data owners, and a comprehensive set of internal monitoring measures will be implemented to ensure its accuracy and reliability.

The methodological approach is aligned with the three lines of defense (COSO) risk model. Key to the model is the establishment of projected roles and responsibilities to ensure and oversee compliance with the ICSSR: Board of Directors, data management and monitoring officers, internal monitoring, internal audit, etc.

The ICSSR Manual establishes the roles and responsibilities in the system's monitoring and control process, as well as regular reporting to the Audit Committee.

Risk management and internal controls over sustainability reporting

Amadeus' management has endorsed a Risk Management Framework to identify the main risks the Group faces, the effective controls to mitigate them, and information systems for their periodic monitoring. This framework has been developed based on awareness of the principles set out in the COSO ERM and ISO 31000 risk management frameworks, as well as best practices to ensure that risks are identified, analyzed, evaluated, managed, controlled, and monitored systematically.

The Enterprise Risk Management Policy, applicable to all Amadeus Group majority-controlled companies in relation to all their activities, processes, projects, products and services, sets out the basic principles of the risk management framework and focuses on: • Achieving its long-term objectives; • Contributing to the maximum level of assurance to shareholders and clients to defend their respective interests; • Protecting the Group's earnings; • Protecting the Group's image and reputation; • Maintaining Corporate stability and financial strength sustained over time, involving every member of the Group.

Three Lines of Defense Model Amadeus formally adopted the Three Lines of Defense Model ('Three Lines Model') with the endorsement of the Board and the Executive Committee.

Roles and Responsibilities • The Board of Directors is responsible for approving the risk management and control policy, including tax, financial and non-financial risks, as well as the periodic monitoring of internal reporting systems and controls.

• The Audit Committee:

• Assesses the effectiveness and integrity of the management and control function of the financial and non-financial risks
• Supervises the effectiveness of internal control and risk management systems as a whole, embracing both financial and non-financial risks (including operational, technological, legal, sustainability, political and reputational or those related to corruption)
• Supervises the internal audit area
• Supervises relations with the statutory auditor and with the sustainability assurance provider
• Supervises the compliance with the Company's policies in sustainability related matters, and internal rules of conduct

• The Risk Steering Committee is a decision-making body empowered by the Executive Committee to provide oversight and guidance on risk management activities and issues across the Amadeus Group, including risk assessment and prioritization, risk mitigation strategies and crisis responses.

Risk Categories Risks are classified into the following categories: • Strategic: Risks related to Amadeus objectives. • Financial: Financial risks relative to market, credit, interest, liquidity, reporting, internal systems, planning, funding, etc. • Legal and Compliance: Risks resulting from violations of laws, regulations, codes of conduct, or organizational standards. • Operational: Risks resulting from inadequate or failed internal processes, people, including talent, and systems, or from external events or IT service failures. • Sustainability: Risk related to environmental, social and people, business conduct and ethical aspects not included in the Legal and Compliance risks category.

Sustainability related-risks are embedded in the overall risk management and internal control processes and systems.

Internal Control over Sustainability Reporting (ICSR) In 2024, Amadeus' Group Internal Control unit has started to develop an internal control environment model -Internal Control over Sustainability Reporting (ICSR) matrix-, based on COSO. Amadeus ICSR model contains a sustainability risk and control matrix for the Group that includes the material sustainability topics and the entity specifics identified through the double materiality assessment.

The Sustainability Office at Amadeus is accountable for producing the consolidated Non-Financial Information Statement and sustainability information 2024, using a specific sustainability reporting software.

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.

The main function of the Internal Controls over Sustainability Reporting (hereinafter, ICSR) unit is the design and implementation of the general control framework corresponding to Banco Sabadell Group's Sustainability Report.

This includes the identification of significant quantitative data generation processes involved in generating the quantitative information contained in the Sustainability Report. A data generation process is considered to be one which generates quantitative indicators associated with the Impacts, Risks and Opportunities (IROs) stemming from the double materiality analysis and one which comprises common elements, such as a data origination source and the processing and analysis of those elements prior to final disclosure.

The ICSR unit analyses those data generation processes, through a thorough analysis with the expert areas involved, and identifies the risks associated with those processes, which are related to the content of the Comisión Nacional del Mercado de Valores (CNMV) guidance that serves as the frame of reference, and controls are designed and incorporated, jointly with those responsible for the data, to mitigate the previously identified risks.

The resulting matrix of risks and controls provides a holistic view of the processes and systems involved in producing the Sustainability Report. The matrix can be consulted to identify the executor and the reviewer of the control, the data that it covers and the process to which it belongs, among other fields.

Furthermore, with the entry into force of the new European Corporate Sustainability Reporting Directive (CSRD), the ICSR unit has identified risks and designed controls over the new double materiality exercise in order to ensure the correct execution of this exercise and its completeness.

Based on the above-mentioned Directive, content controls have been established over the qualitative information disclosed throughout the Sustainability Report in relation to policies, actions, metrics and targets, as these are considered to constitute sensitive information and there are risks involved in their disclosure to the markets.

With regard to the assessment of the established controls, which mitigate the associated risks through their prevention or detection, this is carried out using the Bank's Governance, Risk and Compliance (GRC) tool, which is managed by the ICSR unit, where the areas responsible complete assessment forms accompanied by evidence supporting each of the controls.

Having completed the assessment, the GRC tool managed by the ICSR unit has a certification module that can be accessed by members of Senior Management. The certification process is based on the hierarchical and organisational ratification, at three levels, of the result achieved in the assessment of the controls.

The Board of Directors delegates the supervisory function regarding the internal control systems to the Board Audit and Control Committee. Every six months, the current situation of the ICSR as a result of new applicable regulatory requirements is reported to the Board Audit and Control Committee and to the Technical Committee on Accounting and Financial Disclosures. In addition, every year after the end of the tax year, the result of the assessment of the controls and the conclusions derived from it are escalated to the Board Audit and Control Committee.

BIL has established a comprehensive risk management and internal control system specifically tailored for sustainability reporting. This system is governed by a centralised Sustainable Development Team that leads the sustainability reporting process and ensures compliance with relevant regulations.

Key components include:

Governance and Oversight

The ESG Strategic Steering Committee oversees the non-financial reporting process, providing regular updates to senior management, including the Executive Sponsor (Head of Strategy, SGO, and Balance Sheet Management) and the Executive Committee.

Timetable and Accountability

The Sustainable Development and Finance departments have developed a detailed timetable that outlines internal deadlines and identifies key contributors for the non-financial reporting process, ensuring accountability and timely delivery.

Internal Audit Assessment

The activities of the Bank have been split-up in 'audit units'. The list of all audit units is called the 'audit universe'. All audit units are included in the pluri-annual audit plan, scored and audited as foreseen in the methodology. The frequency of review is linked to the scoring of the audit unit that is calculated on a yearly basis through the risk assessment exercise. ESG is part of the audit universe. In 2024, the internal audit function assessed the risks and internal control systems relating to the production of BIL's Non-Financial Reporting (NFR), with findings reported to senior management to promote continuous improvement and accountability.

Risk Assessment Approach

The risk assessment approach on sustainability reporting involves a thorough evaluation of risks associated with non-financial reporting. Key risks are identified through discussions with internal and external auditors, as well as external ESG reporting experts. Periodic assessments of regulatory compliance are conducted to identify and address potential gaps effectively.

Key risks identified in the sustainability reporting process include:

• Data Accuracy and Completeness: Mitigated through a two-level control framework that ensures the reliability and timeliness of reported data. A dedicated reporting tool enhances data collection processes, including stakeholder identification and real-time monitoring.

• Regulatory Compliance Risks: Addressed by pursuing adherence to the Corporate Sustainability Reporting Directive (CSRD) and European Sustainability Reporting Standards (ESRS), with external support utilised to close identified gaps.

• Governance Risks: Managed through the establishment of clear roles and responsibilities within the ESG governance structure, promoting accountability and effective oversight.

• Methodology Coherence: The methodology behind the Double Materiality Assessment is documented and periodically reviewed by both internal and external auditors to ensure consistency and transparency.

Integration and Reporting

The findings from risk assessments and internal controls are integrated into relevant internal functions through:

• Cross-Departmental Collaboration: Regular engagement meetings ensure that all stakeholders are aware of their responsibilities and adequately prepared for disclosures.

• Four-Eyes Control: Information undergoes validation through a hierarchical review process, ensuring accuracy and accountability at the N-1 level of Executive Committee.

• Regular Updates to the ESG Strategic Steering Committee: Progress on the reporting process and the CSRD project is communicated routinely to the ESG Strategic Steering Committee.

The results of risk assessments and internal controls are reported periodically to the administrative, management, and supervisory bodies through:

• Status of Internal Assessments: Updates on findings from internal audits are provided to ensure transparency and informed decision-making.

• External Assessment: A third-party external assurance provider conducted a gap assessment to evaluate overall compliance with the CSRD, assess the effectiveness of certain data collection processes, and ensure adherence to the EU Taxonomy.

This structured approach ensures that BIL's sustainability reporting is thorough, compliant, and effectively managed, fostering a culture of accountability and continuous improvement within the organisation.

Internal control mechanisms ensure the reliability of the information presented in this report.

The data and information for the reporting period were sourced from the expert units responsible using representative methods. More information on our sustainability parameters and collection of the underlying data can be found under General Disclosures in the (Consolidated) Sustainability Statement from page 150 onward.

Risk management and internal controls over sustainability reporting

ESG Reporting Committee

The Group has an ESG Reporting Committee. The Committee serves as a coordination and support body at executive level aimed at ensuring that the information to be disclosed on Sustainability matters that is to be formulated by the corporate bodies of the BBVA Group reflects the Sustainability objectives and strategy, risk management model and relevant quality standards.

The Committee is led by the Finance area and the following areas participate in it: Global Sustainability Area, Global Risk Management, Regulation & Internal Control, Legal Services, General Secretary, Data, Chair Office, Talent & Culture, and Internal Audit.

Verification of non-financial information

The information contained in the NFIS has been subject to a limited review by Ernst & Young Auditores, S. L., in its capacity as an independent verification services provider, with the scope indicated in its Verification Report which is included in the Appendix of this Management Report.

Risk management integration

The Risk and Compliance Committee supports the Board in integrating Sustainability into the analysis, planning and management of the Group's financial and non-financial risks, and in supervising their execution.

The Audit Committee supervises the process of preparing and the content of the information that must be formulated by the Corporate Bodies in matters of Sustainability for publication, as part of the public information of the Group.

Internal control processes

BBVA is constantly working on defining and adapting processes to ensure operational efficiency and adequate internal controls, including:

• The definition of solid criteria for classifying sustainable business
• Special attention to data quality
• The evaluation of non-financial risks
• The definition of mitigating measures

This process implementation is based on the integration of sustainability in the organization with a solid governance model and an identification and evaluation of aspects related to the sustainability of customers.

Data and estimates

In preparing the Consolidated Non-Financial Information Statement (NFIS), a series of estimates and assumptions has been made in various areas, including:

• Calculation of emissions
• Establishment and monitoring of transition objectives for portfolio alignment
• Estimation of the potential impacts of climate and environmental risks, as well as social and governance risks

These estimates have been made using the best information available as at December 31, 2024. The Group is pursuing various work streams to enhance the accuracy and reliability of the data. During the 2024 financial year, no significant changes have been made to the estimates from previous years.

Thanks to the timely and detailed information received from the Executive Board and its own audits, the Supervisory Board was able to comply fully with its monitoring and consulting duties. We confirm that the Executive Board has acted lawfully, correctly and economically in every respect. The Executive Board regularly consulted the legal and compliance department as well as group controlling and actively used the risk management system.

The audit committee dealt with transactions that require approval, especially acquisition plans, location-related issues and long-term contracts. Other subjects discussed included the interim financial reports, the revenue and earnings performance under the difficult framework conditions, the development of the cash flow and of the working capital as well as their further optimisation, the preliminary audits of the annual and consolidated financial statements, the non-financial group statement and the proposal for the appropriation of profits, the review of the internal control and risk management system and the materiality analysis in accordance with CSRD.

Following the commissioning by the Supervisory Board, the auditor audited the annual financial statements of Bechtle AG, the consolidated financial statements and the combined management reports of Bechtle AG and of the Bechtle Group for the 2024 fiscal year, including the accounts as well as the risk management and early risk detection system, with unqualified auditor's opinions. The audit also included the implemented monitoring system for early identification of risks and the internal control and risk management system with respect to the accounting process. The auditor has confirmed that the installed systems are suitable for identifying developments endangering the company's going concern at an early stage.

As part of a risk analysis, the relevant positions and their associated processes were identified along with the key risks for sustainability reporting. Group-wide safeguarding and control measures have been defined for these positions and processes.

These measures include, among others, segregation of duties, manual approval processes based on the four-eyes principle, IT controls, access restrictions, and authorization concepts within the IT system, as well as system-supported procedures for data processing.

Compliance with recording and control mechanisms is regularly reviewed by Internal Audit. Sustainability-related risks are recorded and consolidated in an integrated IT system. In close coordination with Internal Audit, the Executive Board continuously monitors and oversees these safeguarding and control measures.

To meet the increasingly complex requirements of sustainability reporting, Beiersdorf will continue to expand its internal control system in the future.

Internal Control System Structure

The BMW Group has established comprehensive internal control systems for sustainability reporting integrated into its governance structure:

Board Level Controls

Board of Management Oversight: The Board of Management regularly discusses:

• The effectiveness of the risk management system and internal control system
• Material impacts, risks and opportunities arising from business development
• ESG risks as part of comprehensive risk reporting

Committee Structure

Audit Committee Responsibilities: The Audit Committee is responsible for:

• Monitoring the effectiveness of the internal control system
• Overseeing the internal audit system
• Monitoring the internal Compliance Management System
• Reviewing sustainability reporting and the financial reporting process
• Preparing internal and external audits for sustainability reporting

Risk Management Integration

Risk Reporting: The Committee receives detailed reports every six months on:

• Risk management and risk strategy
• Current risk situation
• Extent to which risk cover funds have been utilised
• ESG risks are included in these reports

Compliance Reporting: The Chief Compliance Officer reports to:

• The Audit Committee twice a year on compliance matters and Compliance Management System changes
• The Supervisory Board once a year

Sustainability-Specific Controls

Sustainability Function: The Sustainability and Mobility function:

• Ensures high-level management of sustainability topics as part of Group strategy
• Identifies areas where the Company potentially needs to take action
• Defines targets to be achieved
• Ensures sustainability issues are considered in all material Company decisions

Progress Monitoring: Progress reports on overarching sustainability targets are submitted to the Board of Management at least three times a year.

Data Quality and Verification

Skills Assessment: Both Board of Management and Supervisory Board members are surveyed annually on their sustainability expertise. The Legal, Patents and Group Compliance Management department verifies the plausibility of information provided.

External Validation: For materiality assessment mapping, the BMW Group arranged for its mappings to be validated by two external consulting firms.

Regulatory Compliance

ESRS Implementation: The Board of Management holds regular discussions on:

• Processes and actions for implementing new regulatory requirements
• Ensuring compliance with external reporting requirements in sustainability
• The extent to which CSRD/ESRS requirements have been implemented

The Audit Committee prepares the decision-making of the Board regarding the supervision of the integrity and quality of the Company's financial reporting and the effectiveness of the Company's internal risk management and control systems.

The Audit Committee focuses on monitoring the Board of Directors, among others, in the following matters: • relations with the internal and external auditors, and compliance with and follow-up on their recommendations and comments.

The internal audit function has sufficient resources to execute the internal audit plan and has access to information that is important for the performance of its work. The internal audit function has direct access to the Audit Committee and the external auditor. Records are kept of how the Audit Committee is informed by the internal audit function.

The internal audit function reports its audit results to the Board and the Audit Committee and informs the external auditor. The findings of the internal audit function include the following:

• any flaws in the effectiveness of the internal risk management and control systems;
• any findings and observations with a material impact on the risk profile of the Company and its subsidiaries; and
• any failings in the follow-up of recommendations made by the internal audit function.

During 2024, the Audit Committee met 4 times. During these meetings, the Audit Committee examined and discussed the activities carried out by the Internal Audit function and the Ethics Committee during 2023; examined the activities of the Internal Audit function referring to the first quarter and half-year of 2024, agreeing on methods and timing for the receipt of periodic or event-based information, with particular reference to significant events subject to audits, whistleblowing reports and litigation; the Audit Committee then examined the Audit Plan prepared by the Internal Audit function for 2025, together with the budget for that function for the same year. It also examined the Group's Enterprise Risk Assessment.

Risk management and internal controls over sustainability reporting

The Board is careful to secure systematic management of risk in all parts of the business and regards this as critical for long-term value creation. The Board of Directors regularly reviews Crayon Group's risk profile through the lens of the organization's lines of business and control functions.

Crayon considers good corporate governance to be a prerequisite for value creation, trustworthiness and access to capital. In order to secure strong and sustainable corporate governance, we work continuously to implement good and healthy business practices, reliable financial reporting and compliance with legislation and regulations across Crayon Group.

The Board has adopted instructions for the Group's employees and primary insiders relating to inside information and trading in financial instruments, including the duty of confidentiality, prohibition of trading, investigation, and reporting requirements, and ban on giving advice.

In 2024 we renamed our Audit Committee to the Audit and ESG Committee, and revised its mandate to reflect this broader scope. The Audit and ESG Committee is responsible for overseeing the Group's financial reporting process, internal controls, and risk management systems, as well as ESG-related matters.

The Board ensures that the Company has proper management with a clear internal distribution of responsibilities and duties. All members of the Board regularly receive information about the Company's operational and financial development.

Additionally, the Board prepares an annual evaluation of its own work, including its performance, expertise, composition and how its members function (both individually and as a team) in relation to the objectives set out for its work.

Risk management and internal controls over sustainability reporting

As part of Danica's sustainability reporting process, governance structures and processes have been established to ensure that risk management and controls are implemented.

Danica has established a working group and a steering committee to manage day-to-day decisions related to sustainability reporting. Danica's Audit Committee receives regular project status updates, and the project is also closely monitored by the internal and external auditors and Compliance. Danica's Board of Directors is responsible for approving sustainability reporting before its publication.

In relation to quantitative data, an audit tool has been developed that provides an overview of datapoints, data sources, data quality, data use, calculations, documentation, a description of risk and control environments, etc. Mitigating data controls include spot checks and four-eyes controls.

Danica will work continually to improve risk management and controls in order to improve data quality over time. In the coming years, Danica will invest in and improve existing controls, for example by implementing a higher degree of automation.

Risk Management Framework: Danone maintains an active risk identification and management policy aimed at protecting and developing its assets and reputation. The Company Strategy Department is responsible for identifying and monitoring strategic risks and coordinating different risk management processes.

Risk Committee Structure: The Risk Committee, composed of senior executives from key functions, ensures:

• Emerging risks are identified and qualified
• Internal and external inputs are incorporated
• Mitigation plans are elaborated and executed
• Regular supervision by the Advisory Committee (CFO, General Secretary, Company Strategy Head)

Risk Monitoring Process: Risk management operates through:

• Annual strategic risk mapping updates
• Country Management Committee reviews (at least annually)
• Regular Risk Committee meetings throughout the year
• Annual presentations to Executive Committee and Board of Directors

Internal Controls Over Sustainability Reporting: Specific controls for sustainability reporting include:

• Structured data collection and validation processes
• Regular monitoring of Danone Impact Journey progress
• Integration with financial reporting controls
• External assurance processes including statutory auditor certification

Sustainability Risk Integration: Key sustainability risks are integrated into the overall risk framework:

• Climate change impacts on value chain
• Packaging regulations and circularity requirements
• Consumer preferences evolution
• Raw materials and energy price volatility
• Regulatory compliance including CSRD requirements

Control Environment: The control environment encompasses:

• Risk management policies and procedures
• Internal control framework integration
• Regular assessment and updating of risk mitigation measures
• Coordination between Company Strategy, Finance, and operational teams

Risk management activities in the Demant Group include a variety of risk areas, many of which may impact the performance and reputation of the Group. The overall responsibility for risk management lies with the Executive Leadership Team, but risk management activities are carried out throughout the organisation on a day-to-day basis.

Risk management is an integral part of the management of the Demant Group. Risks to which business areas, markets and operations are exposed are identified, monitored and mitigated at all management levels. Through frequent and transparent reporting, these measures ensure that key risks are escalated to the business area leadership, to functional boards, to the Executive Leadership Team, and if relevant, to the audit committee and ultimately the Board of Directors.

We have established a number of functional boards to ensure focus on governance, development and risk management in key areas globally, i.e. IT, Finance, HR, Sustainability and Legal & Compliance. The functional boards are responsible for risk management in their respective areas and for ensuring that policies, guidelines and processes are established to monitor risks and new legislation.

The audit committee oversees the risk management processes related to financial risks, including sufficient and efficient internal controls.

The company has a finance business partner function that reports to the CFO and is tasked with ensuring the accuracy of monthly financial reporting. The CFO reports on the financial performance of the company and its divisions to Management, the Board of Directors, and the Board's Audit Committee.

The company uses a reporting system that compiles subsidiaries' reports into consolidated financial statements. There are also written directives for completing the financial reports of subsidiaries. The company's CFO monitors compliance with these instructions. The company also has the separate reporting facilities required for monitoring business operations and asset management.

The Group's financial administration unit prepares management's interim reports, consolidated interim reports and consolidated Financial Statements. This financial administration unit has centralised control over the Group's funding and asset management, and is in charge of managing financial risks.

Internal control helps to ensure the reliability of the Digia Group's financial reporting. Digia's financial administration unit provides guidance on financial reporting matters. The Group's business is divided into areas of responsibility led by Senior Vice Presidents (SVPs) reporting to the CEO. Reporting and supervision are based on annual budgets that are reviewed monthly, on monthly income reporting, and on updates of the latest forecasts.

The SVPs report to the Group Management Team on development matters, strategic and annual planning, business and income monitoring, investments, potential acquisition targets and internal organisation matters related to their areas of responsibility. Each area of responsibility also has its own management team.

Digia's operational management and supervision adhere to the corporate governance system described above.

Digia has not yet established a separate function responsible for internal auditing. The need for an internal audit function is regularly assessed. With the company's current business volume, its legal and financial management functions are able to handle internal auditing tasks.

Risk management and internal controls

DSB has established various risk management and internal control systems to support sustainability reporting and operations:

Data quality controls

We are making proactive efforts to enhance data quality in our calculations, including through quality control in our internal KPI processes and through audits performed by DSB's internal audit function. Enhanced data quality will not only improve the accuracy of our reporting, but also provide a better basis for making informed decisions on our environmental impacts.

Compliance function

DSB's Data Protection Officer (DPO) Compliance function is responsible for advising and following up on laws, rules and regulations of relevance to the company as a whole which do not fall under other specialist areas.

Emergency planning and crisis management

We continuously work to improve our emergency plans and risk management systems for rapid responses to any service disruption and crisis situation that may occur.

Climate risk assessment

To mitigate potential challenges from climate change, we have conducted an analysis of the risks associated with them. The analysis has been carried out using the Climate Atlas tool developed by the Danish Meteorological Institute (DMI), which incorporates the UN Intergovernmental Panel on Climate Change (IPCC) climate scenarios in a Danish context.

Review by external auditors

The sustainability report is covered by the review (limited assurance) performed by external auditors.

Risk management and internal controls over sustainability reporting

Integrated Risk Management Model

Eni has developed and adopted an Integrated Risk Management Model (IRM Model) supporting Eni's management awareness in taking risk-informed decisions through risk assessment and analysis with an integrated, comprehensive and prospective vision.

The IRM Model is based on a system of methodologies and skills that leverages on criteria ensuring consistency of the evaluations to improve the effectiveness of the analyses, adequacy of support for the main decision-making processes (definition of the Strategic Plan) and to guarantee the disclosure to the administration and control bodies.

Three-Level Control System

The IRM Model is characterized by a structured approach, based on international best practices and considering the guidelines of the Internal Control and Risk Management System, that is structured on three control levels:

Risk Assessment Process

The IRM process ensures the detection, consolidation and analysis of all Eni's risks and supports the BoD to verify the compatibility of the risk profile with the strategic targets, also in a medium/long-term approach.

In 2024, two assessment sessions were performed: the Annual Risk Assessment performed in the first half of the year and in the second half of the year the 4Y Plan Risk Assessment, to support the elaboration process of the 4Y Strategic Plan. The assessment involved all business lines in Italy and abroad (over 40 Countries). The two assessment results were submitted to Eni's management and control bodies in July 2024 and December 2024.

Three monitoring processes were performed on Eni's top risks. The monitoring of such risks and the relevant treatment plans allows to analyze the risks evolution and the progress in the implementation of specific treatment measures planned by management. The top risks monitoring results were submitted to the management and control bodies in March, July and October 2024.

Top Risks Portfolio

Eni's top risks portfolio consists of 20 risks classified in: (i) external risks, (ii) strategic risks and, finally, (iii) operational risks.

Governance Structure

Governance attributes a central role to the Board of Directors (BoD) which defines, on the basis of the analyses proposed by the Chief Executive Officer (CEO) and with the support of the Control and Risk Committee (CCR), with reference to the four-year Strategic Plan, the nature and level of risk compatible with the company's strategic objectives.

Eni's Chief Executive Officer (CEO) implements the BoD's guidelines; the analysis is based on the scope of the work and risks specific of each business area and processes aiming at defining an Integrated Risk Management policy. The CEO also ensures the evolution of the IRM process consistently with business dynamics and the regulatory environment.

Reporting Frequency

At least quarterly, the IRM function presents the relevant results to the CEO, to the Control and Risk Committee, as well as, where required, to the other control and supervisory bodies. The CEO submits the results of the analysis on Eni's main risks to the Board of Directors at least quarterly.

Risk management and internal controls over sustainability reporting

Enterprise risk management framework

Enterprise risk management (ERM) relates to managing uncertainties so that we can deliver Equinor's purpose in line with our core values. Risk, which refers to both threats and opportunities, is considered through strategy selection and managed through execution in order to deliver the strategic pillars and objectives throughout the company. On behalf of the Board, the BAC oversees and reviews the effectiveness of the corporate ERM framework.

Equinor's ERM framework is integrated across all our activities with a focus on creating value whilst avoiding unwanted incidents. We assess risks in short-, medium- and long-term perspectives, including strategic and emerging risks that can impact achievement of our corporate objectives.

Risk management process

Equinor's risk management process is based on ISO 31000: Risk Management and seeks to ensure that risks are identified, analysed, evaluated, and appropriately managed. Our standardised approach enables consistent risk-informed decisions and risk response that supports delivering value in a sustainable frame.

Risks from across the company are integrated into the company's management information system, where they are linked with Equinor's strategic, objectives and KPIs. This information tool is used to capture risks, to follow up risk- adjusting actions and related assurance activities, and supports a risk-based approach in the context of a three line model.

Risk oversight and management

Everyone has a role related to risk management, whether at executive level, line managers, employees or in collaboration with stakeholders and suppliers. As a general principle, risks are managed in the business line as an integral part of employee and manager tasks at all levels.

The CEO and the BAC maintain oversight of the risk management framework, risk processes, top enterprise risks and the development of corporate risk picture throughout the year. Top enterprise risks are the risks and uncertainties currently of most concern to the CEC in delivering company objectives.

Sustainability-related risk management

Climate and other material sustainability-related factors are integral aspects of our strategy and planning decisions, and we seek to be open around our approach through our Energy transition plan and use of recognised reporting methodologies.

As part of continuous improvement through 2024, Equinor has progressed activities to strengthen our ERM practices, including increased focus on follow-up and assurance of risk response effectiveness, and progressing the corporate risk appetite framework. Through 2025, we will also continue to refine our approach to sustainability-related financial risks and use of dual materiality good practices.

Internal control systems

Equinor manages risks related to external reporting through early consideration of future reporting requirements, cross-functional collaboration and implementation of established internal control systems with assigned roles, responsibilities and third-party review.

A comprehensive set of performance indicators and monitoring reports are made available to all employees in Equinor's management information system. Performance indicators are reported on a regular basis from operational levels to governing bodies, ensuring transparency in risk management.

Control over sustainability matters is organized and formalized through policies, procedures, and processes, as described in this sustainability statement. ESG-related policies and procedures are proposed and developed by the ESG Council or relevant functions and approved by the CEO, the Board or a member of management depending on the policy. The Audit Committee reviews the policies presented to the Board and the Code of Conduct is approved by the Board.

F-Secure has internal control operating procedures in place which apply to the entire company. Principles and recommendations introduced in the Finnish Corporate Governance Code for listed companies are reflected in our Internal Control Framework. Based on risk assessment the key processes are identified. For the identified processes key risks and related internal control points have been defined and documented in internal control matrices. ESG has been identified as one of the key processes and we've developed internal controls for material ESG topics. Internal Control definition as adopted by F-Secure consists of e.g. policies, procedures, control activities, and monitoring, executed by F-Secure's Board of Directors supported by the Audit Committee, the CEO, F-Secure's Leadership Team and other operative management, and all F-Secure employees, designed to provide assurance regarding the achievement of F-Secure's objectives.

Main risks, mitigation plans and controls

F-Secure has analyzed the risks for each material topic including sub and sub-sub-[text appears cut off]

Risk management and internal controls over sustainability reporting

For information on risk management and internal controls over sustainability reporting, see ↗ Opportunity and risk management and ↗ Internal control system (ICS) for the accounting process.

Risk management and internal controls over sustainability reporting

There was an update on opportunity and risk management, compliance, and the results and recommendations of the internal audit. The Supervisory Board was informed about the current status of the implementation of the CSRD at FUCHS. It also dealt with the procedure and the assessment of the effects, risks and opportunities in accordance with the CSRD.

Additionally, the Audit Committee reviewed financial reporting, monitored the financial reporting process, and assessed the effectiveness of the internal control system, risk management system, and internal audit function.

In particular, the auditor confirmed that the Executive Board had set up a suitable monitoring system in accordance with Section 91 (2) of the German Stock Corporation Act (AktG) capable of identifying developments that jeopardize the continued existence of the company at an early stage.

Risk management and internal controls over sustainability reporting

THE AUDIT COMMITTEE: Reviews quarterly sustainability report, internal control over non-financial reporting, sets materiality threshold and reviews the double materiality analysis. The committee determines the process for processing the annual report, including the sustainability report, and pre-processes the report for decision by the board.

THE RISK COMMITTEE: Reviews proposals for sustainability targets, discusses identified influences, risks and opportunities, and ensures that risk appetite includes sustainability topics and risk exposure.

We are dependent on the trust of our surroundings to carry out our social mission. A comprehensive understanding of risk, with clear roles and responsibilities, is essential in our corporate governance.

The governance structure is described in more detail in our statement on corporate governance at gjensidige.com, in Note 3 to the accounts and in the Pillar 3 report.

The Board has overall responsibility for ensuring that the Group is managed responsibly, including responsibility for strategy, finances, the environment, social conditions and compliance with laws and regulations. This includes ensuring that the work on risk management and internal control is organised, documented and reported on in an expedient manner.

Identified climate risks and opportunities are assessed at least once a year and are included in our ORSA process. The assessments are based on when they are expected to materialise (short, medium or long term) and based on both a qualitative and (when possible) quantitative impact assessment.

Our definition of short (<1 year), medium (1-5 years) and long term (>5 years) is in line with the requirements of the ESRS, except for climate risk. We have continued our long-standing work on climate risk and have chosen to use the same timeline as before. For climate risk assessments, short term means 0–3 years, medium term 3–10 years and long term more than 10 years.

Risk Management and Internal Controls Over Sustainability Reporting

Risk Management Framework

GN has established a comprehensive risk management framework that encompasses sustainability-related risks:

Risk Governance Structure:

• Risk governance at GN is overseen by the Board of Directors
• Risks are identified and governed by a risk department and the Executive Leadership Team for each division and selected functions
• Risks are evaluated based on their impact and likelihood

Risk Assessment Process:

Sustainability Risk Categories Managed

GN systematically manages several categories of sustainability-related risks:

Environmental Risks:

• Climate change impacts on operations
• Supply chain environmental risks
• Product lifecycle environmental impacts

Social Risks:

• Human rights in the value chain
• Workforce development and retention
• Product quality and safety

Governance Risks:

• Cybersecurity and data protection
• Regulatory compliance
• Geopolitical environment impacts

Internal Controls

GN has implemented internal controls over sustainability reporting through:

• Integration of sustainability considerations into existing business processes
• Regular monitoring and assessment of sustainability performance
• Annual review and approval of sustainability-related risks by the Board of Directors

GN's approach ensures that sustainability risks are not managed separately but are integrated into the overall business risk management framework.

Risk management and internal controls over sustainability reporting

Main Features of the Systems of Internal Controls and Risk Management

The Group System of Internal Controls and Risk Management in relation to the financial statements' and financial reports' preparation process includes controls and audit mechanisms at different levels within the Organization.

Risk identification, assessment, measurement and management

The prevention and management of risks forms a core part of the Group's strategy. The scope, size and complexity of the Group's activities require a composite system of methodical approach and treatment of risks, which is applied by all Group companies.

The identification and assessment of risks is carried out mainly during the strategic planning and the business plan preparation phase. The benefits and opportunities are examined both in the context of the Company's operations, but also in relation to the several and different stakeholders who may be affected.

The examined risks include a) operational, b) financial and c) strategic risks, as well as d) regulatory compliance and supervision risks. More specifically and indicatively, issues that are examined include the effect of operational availability of units, supply chain, human resources, technological developments, taxation, interest rates, commodity prices, exchange rates, among others. Also, issues related to health, safety and environmental, corporate governance and regulatory compliance risks are assessed, risks related to the business model and strategy, as well as market trends (competition, geopolitical developments, regulatory developments).

Planning and monitoring / Budget

The Company's progress is monitored through a detailed budget per operating sector and specific market. The budget is adjusted at regular intervals to consider the changes in the development of the Group's financials that depend greatly on external factors, including the international refining environment, crude oil prices and the euro / dollar exchange rate. Management monitors the Group's financial results through regular reporting, comparisons vs the budget, as well as through Management Team meetings.

Adequacy of the Internal Control System

The Internal Control System (ICS) consists of the policies, procedures and tasks which have been designed and implemented by the Group's Management for the effective management of risks, the achievement of business objectives, for ensuring the reliability of the financial and managerial information and compliance with Laws and regulations.

The independent Group Internal Audit General Division (GIAGD), through conducting periodic assessments, ensures that the risk identification and management procedures applied by the Management are adequate, that the ICS operates effectively and that information provided to the BoD regarding the ICS, is reliable and of good quality.

The Internal Audit General Division draws up a short-term (annual), as well as a rolling long-term (three-year) Audit Plan based on ad-hoc risk assessment, as well as on other issues identified by the Audit Committee and the Management also in past audit reports. The Audit Committee is the supervisory body of the Internal Audit General Division.

The Internal Audit General Division submits quarterly reports to the Audit Committee, in order for the systematic monitoring of the Internal Audit System's adequacy to be feasible.

Monitoring and Risk Management Division

The purpose of the Monitoring and Risk Management Division is to centrally monitor and coordinate the management of the Group's exposure to internal and external risks. The Division was formed in 2024 and is independent from executive activities and supports the ICS's operation through determining principles and setting up and implementing appropriate and updated policies and procedures governing their identification, assessment, quantification/measurement, monitoring and management.

Compliance Office

Compliance Office is responsible for monitoring the Group's Compliance Risk and forms part of the Internal Control System (ICS) and reports at an operational level to the Audit Committee and at an administrative level to the Director of Monitoring and Risk Management. By its report to the Audit Committee, it contributes to the ICS's improvement and adequacy, as its objective is to ensure that appropriate and updated policies and procedures are set up and implemented, in such a way that the Company's full and constant compliance to the applicable regulatory framework is achieved.

Information systems' controls

Given the critical dependency of financial reporting processes on information systems, the Group has implemented a series of measures to ensure the effective operation of security controls. These measures preserve the completeness and accuracy of financial records and information that generate financial reporting, while also ensuring the continuity of IT services in the event of unexpected events that could cause loss of system availability (Disaster Recovery).

To this end, the Group has appointed a Chief Information Security Officer (CISO), who reports to the Audit Committee on a quarterly basis and is responsible for managing the Information Security Framework. This Framework includes cybersecurity policies and procedures aligned with international best practices and standards, reflecting Management's commitment to managing cyber risks.

The Group employs a multi-layered approach to protect its information, supported by a strategic plan that incorporates state-of-the-art technologies and top-tier information systems, while ensuring compliance with the required regulatory frameworks and directives, such as the Personal Data Protection Regulation and the NIS2 Directive (L. 5160/2024).

Financial fraud prevention and detection

In the context of risk management, the areas that are considered to be of high risk for financial fraud are monitored through appropriate Control Systems and accordingly increased controls are in place. Examples include the existence of detailed organizational charts, operation regulations (procurement, investment, oil products' market, credit, treasury management), as well as detailed procedures and approval authority levels. In addition to the internal controls applied by each Division, all Company operations are subject to audits by the Group Internal Audit General Division (GIAGD), the results of which are submitted to the BoD.

Information on risk management and internal controls over sustainability reporting is incorporated by reference in the chapter Notes to the Consolidated Sustainability Statements.

Overall Responsibility: The Managing Board of HUGO BOSS has overall responsibility for an effective risk management system, including sustainability-related risks.

Risk Management Structure:

• The central Risk Management and Internal Controls department coordinates the execution and continuous development of the risk management system on behalf of the Managing Board
• Monitoring the effectiveness of the risk management system is the responsibility of the Supervisory Board
• The Audit Committee of the Supervisory Board exercises this task with involvement of the Internal Audit department

ESG Risk Integration: The process for identifying, evaluating and managing ESG risks was integrated into the overarching risk management system and can be used to evaluate the Company's overall risk profile and risk management processes. The results of the ESG risk and opportunity assessment were integrated into the Company's existing risk management system to streamline processes.

Internal Controls: As part of the reporting process, HUGO BOSS has not identified any risks associated with its own business activities, business relationships, products or services that very likely have or could have serious adverse impacts on the five mandatory aspects as set forth in Sec. 289c HGB.

Sustainability Governance:

• Strategic responsibility for ESG matters is assigned to the Group Strategy and Corporate Development division, reporting directly to the CEO
• Operational responsibility lies with Business Operations
• Group Finance & Tax is responsible for Group-wide ESG data collection, consolidation, and validation
• The CFO/COO assumes responsibility for the central Sustainability Committee

KONE's sustainability reporting is based on the group-level principles of risk management and internal control. The aim of risk management is to identify risks and opportunities in relation to the achievement of sustainability objectives and assess the likelihood and magnitude of the impacts these may have, as well as to identify actions to manage the impacts. The identified risks and opportunities are managed through KONE's sustainability, risk management and internal control governance models.

KONE's internal control framework is built and based on corporate values, the KONE Code of Conduct, a culture of honesty and high ethical standards. The framework is supported by a dedicated leadership, training programs, a positive and diligent corporate culture and working environment as well as by attracting and promoting dedicated and competent employees. Global and local policies and principles are a key part of the internal control framework.

KONE's internal controls are designed to manage relevant sustainability reporting risks, as part of KONE's processes and employee job roles. Internal controls over sustainability reporting are supported by global and local policies and principles that are continuously maintained by incorporating changes and developments from the business operations and information systems.

KONE's Global Risk Management function facilitates risk assessments which includes the assessment of risks and opportunities in relation to sustainability reporting. Dedicated sustainability risk and impact or materiality assessments are conducted to ensure systematical identification, assessment, and treatment of risks, impacts and opportunities. Risks and opportunities are prioritized according to KONE's Risk Management Policy which applies to sustainability reporting.

KONE's Global Risk Management function facilitates sustainability risk assessments, including double materiality analysis (DMA) and the assessment of impacts, risks and opportunities (IROs), which are reviewed and managed jointly with relevant functions. Internal control activities to manage the identified material risks related to the accuracy and timeliness of sustainability reporting are adopted as part of KONE's processes that produce sustainability information.

The management is responsible for establishing and maintaining adequate internal controls and for monitoring their effectiveness as part of operative management.

Sustainability-related risks are regularly tracked, assessed and prioritised in our group-wide risk management system. The assessment of existing risks is updated and newly identified risks are added in a half-yearly risk inventory. Risks can be reported informally at any time by submitting an ad-hoc report.

The risk of providing inaccurate, incomplete or misleading information in the non-financial statement was identified as a material risk. Policies, work instructions and manuals are established in order to identify and reduce risks in the area of sustainability reporting. In this connection, we have developed control mechanisms to ensure the accuracy and completeness of our sustainability reporting and thus the provision of precise, complete and clear information. Our sustainability reporting processes and controls are continually reviewed to ensure they meet changing needs and are adjusted as necessary to improve their effectiveness.

Group-wide Sustainability Accounting Guidelines provide the uniform basis for the definition, calculation and presentation of sustainability information. The sustainability-related quantitative metrics to be determined are collected by the operating departments and are generally based on process data systems, measurements, readings, calculations and procurement data. Financial information is taken from the financial reporting that is prepared in parallel. Any adjustments and changes to sustainability data – whether in terms of definition, calculation or presentation – are clearly identified and communicated.

We have established control mechanisms as part of our data collection process. The process of quantitative data collection, verification and consolidation in the Krones Group is implemented in centralised software. To ensure the comparability and accuracy of the reported data, all metrics are converted into a standardised reference unit directly in the software. Uniform conversion factors are applied to enable consistent and efficient data processing.

The risk governance model is in line with national and international standards and best practices and is compliant with the Corporate Governance Code for Listed Companies, the Organisational, Management and Control Model and the Group's Anti-Corruption Code. It has three levels, provides for clear-cut roles and responsibilities for the various departments and ensures a suitable exchange of information flows, to guarantee effectiveness.

The operating risk management, which involves the entire organisation, is based on the identification, assessment and monitoring of the enterprise and project risks and the related mitigation plans. It is supported by specific methodologies, instruments and metrics for the related analysis and management.

The sustainability reporting information request process consists of six stages:

1. Materiality analysis (every two years): third quarter of current year
2. Launch of process and collection of qualitative information: third quarter of current year
3. Collection of quantitative information: fourth quarter of current year and first quarter of following year
4. Drafting of Sustainability Report document: first and second quarter of following year
5. Validation of information by areas and Executive Committee: first and second quarter of following year
6. Publication of Sustainability Report: second quarter of following year

The ESG Reporting team, within the Positive Impact area, coordinates and monitors the entire sustainability reporting process, applying various forms of validation and control:

• During information collection phase, data reporters must validate information with their direct supervisor
• ESG Reporting team thoroughly reviews all data and requests clarification when necessary
• Document is periodically reviewed by the team with several final rereads
• Final document is shared with Executive Leader Team for knowledge, review, and validation

Main risks identified:

• Points of error or failure in data processes, from origin to consolidation and reporting
• Failure to comply with established deadlines for collecting information and evidence
• Lack of understanding by those responsible for reporting about required data or evidence
• Inconsistencies in information traceability due to use of different digital platforms or formats

To mitigate these risks, validation and control processes include review and approval processes, verifications, and controls carried out by both the organization and an independent third party.

In 2024, no periodic notifications have been made to the administrative, management and supervisory bodies related to risk management and internal controls for sustainability information disclosure.

Risk management and internal controls over sustainability reporting

Risk management framework for sustainability: Lundbeck has established comprehensive risk management and internal control systems that encompass sustainability-related risks and opportunities. Our approach ensures that material sustainability matters are appropriately identified, assessed, managed, and reported.

Governance structure:

• Board oversight: The Board of Directors has ultimate responsibility for risk management including sustainability risks
• Audit Committee: Provides detailed oversight of risk management systems and internal controls
• Executive Management: Responsible for implementing risk management strategies and maintaining effective controls
• Risk Management function: Dedicated team coordinating enterprise-wide risk management activities

Sustainability risk identification and assessment:

• Regular risk assessments: Systematic identification of current and emerging sustainability risks and opportunities
• Materiality assessment: Annual evaluation of material sustainability topics based on stakeholder input and impact assessment
• Climate risk assessment: Specific evaluation of physical and transition climate risks following TCFD recommendations
• Integration with enterprise risk management: Sustainability risks are integrated into our broader ERM framework

Internal controls over sustainability reporting:

• Data management systems: Robust systems for collecting, validating, and reporting sustainability data
• Process controls: Defined procedures for sustainability data collection with clear roles and responsibilities
• Review and verification: Multi-level review processes including management review and external assurance
• Documentation: Comprehensive documentation of methodologies, assumptions, and data sources
• System access controls: Appropriate access restrictions and approval processes for sustainability data systems

Control activities:

• Monthly monitoring: Regular tracking of key sustainability KPIs and performance against targets
• Quarterly reviews: Management review of sustainability performance and control effectiveness
• Annual assessments: Comprehensive evaluation of internal controls over sustainability reporting
• External assurance: Limited assurance provided by external auditors on selected sustainability metrics

Monitoring and reporting:

• Dashboard reporting: Real-time monitoring of key sustainability indicators
• Management reporting: Regular reports to Executive Management and Board on sustainability performance
• Public disclosure: Annual sustainability reporting in accordance with CSRD/ESRS requirements
• Continuous improvement: Regular updates to controls based on internal assessments and external feedback

Our compliance program includes risk management and internal controls over sustainability reporting. We carry out annual compliance risk assessments to support us in our risk-based approach and to guide us in our compliance efforts and risk prevention and mitigation actions in the organization. Risk management processes are described in detail on pages 79-83, including specific sustainability-related risks and their management. The company has established processes for ensuring the accuracy and completeness of sustainability data through our Sustainability data package and internal verification procedures.

Risk management and internal controls over sustainability reporting

As part of the annual risk assessment performed by the NNIT Group Management in 2024, any identified ESG risks were subsequently assessed by the Board of Directors. As part of Double materiality assessment, NNIT has identified risks related to each of the parameters of Environment, Social and Governance. Please refer to page 47-52 for information on material risks identified.

Risks related to reporting

NNIT's sustainability reporting is susceptible to the risk of material misstatement caused by human error or incomplete data. ESRS aligned accounting principles have been adopted to manage this risk, in addition to external auditing providing limited assurance. Our annual risk management process is designed to manage the risks associated with NNIT's operations. During that process, we also monitor risks related to sustainability reporting. In 2024, the risk management and reporting included risks related to sustainability reporting, governance and compliance reporting.

Successfully Managing E and S Risks

NNIT has comprehensive emergency response plans in place across all geographies and works diligently to ensure sustainable consumption to the extent possible (Please refer to page 24-26 in Risk Management, ESRS 2 GOV-2)

Our enterprise risk management process is part of the Company Performance Management Process and includes the methods and processes used to collect and consolidate a complete risk picture of NNIT. Finance in collaboration with responsible person from quality and security undertakes a process of risk re-evaluation and risk assessment. Risks are evaluated and top 20 risks are presented to NNIT Group Management along with how they can be managed and their mitigating actions. Following, NNIT Group Management report top 10 risks to the Board along with their risk mitigation plan. This process also includes risks related to sustainability and ESG.

Controls over sustainability reporting

Reported data and descriptions in the Sustainability Statements are reviewed and validated by relevant owners of the different functional areas. In connection with the review process, KPI figures are controlled and documentation reviewed. Reviews are carried out in connection with the annual preparation of the Sustainability Statements.

Novabase Group is subject to normal market risk and the specific risk that underlies its business. Novabase believes that risk management policy is crucial to conducting and developing a business that historically has exhibited higher risk appetite, keeping in mind how intrinsically necessary it is in such a dynamic and disruptive sector.

Novabase also employs internal control procedures and systems that are used to prevent and manage risk within its organization and activities.

Additional information regarding internal control and risk management at Novabase can be found in Part I, Letter C., Section III. 'Internal Control and Risk Management' of the Corporate Governance Report for the year 2024.

Integrated assurance model

We have an integrated assurance model, which involves a comprehensive and consistent approach across the company to governance, risk management, compliance and internal controls. The integration is supported by an efficient operating model, processes and consistent methods, enabled by collaboration and data insights.

The integrated assurance model is driven by members of the Ethics, Risk and Compliance (ERC) function as business stewards, in collaboration with Internal Audit.

As the basis of our integrated assurance system, we follow a model for managing our risks developed by the Institute of Internal Auditors that describes three lines of assurance.

Employees addressing potential risks that might arise through their business activities represent the first line. Second-line roles provide expertise, support, monitoring and challenge on risk-related matters. In the third line, our Internal Audit function provides assurance that other lines are operating effectively.

Corporate ERC Assurance Team

The Corporate ERC Assurance Team serves as the backbone of our second line of assurance, ensuring one functional standard for how we approach assurance, including internal review, external partner audit activities, and remediation.

Its scope comprises internal reviews of compliance with our Doing Business Ethically, Health, Safety and Environment (HSE), and Ethical Use of Data and Technology policies, guidelines and handbooks. Corporate ERC Assurance also initiates audits with external partners on anti-bribery, labor rights, and HSE.

Through our Enterprise Monitoring Coordination process, we avoid overlaps of activities carried out by different assurance functions, including Internal Audit.

Internal Audit

As a third-line assurance function, Internal Audit assists the Board of Directors and the Executive Committee of Novartis (ECN) by providing assurance and advice on the effectiveness, efficiency and adequacy of processes and controls that support Novartis in achieving its strategy, managing major risks, and ensuring compliance with applicable policies, laws and regulations.

Internal Audit works according to an audit plan approved by the Board's Audit and Compliance Committee. During 2024, Internal Audit carried out 52 audits. These include the review of ethical standards.

In 2024, the Audit Committee looked at important topics related to the accounting process, the internal audit program, risk management, and the Group's internal control system.

Information security is a top priority at OMV. We continuously adapt our security measures to address changing threats, new business needs, and digitalization efforts, ensuring the protection of our data, systems, and assets. Our Information Security Management System (ISMS), certified to ISO/IEC 27001, provides comprehensive security monitoring of our IT infrastructure and services. We also have specific security controls for AI technologies and adhere to responsible AI principles, regularly verifying our AI solutions to maintain ethical standards.

Our internal security measures are supported by regular external assessments and audits, following various security frameworks and legislative guidelines.

Risk assessment is carried out on an ongoing basis in all business segments and regions as part of our daily business operations. Our 'Enterprise risk framework' sets out the general principles, the roles and responsibilities, and the main processes by which all risks must be identified, assessed, managed, monitored, and communicated throughout the Group. We will also continue our work to manage future breakaway profiles for asset projects by scrutinising financial commitments before taking final investment decision (FID).

RISK MANAGEMENT MATRIX

The Board of Directors (the Board) reviews and discusses key risks that could threaten Pandora's business model or the future performance, solvency or liquidity.

SUSTAINABILITY RISKS ASSESSMENT Sustainability risks are assessed on a quarterly basis and insights from the 2024 double materiality assessment have been incorporated into the enterprise risk management calibration process and reporting. We do not consider sustainability risks to be among our top risks. As part of our climate risk assessment, we evaluate risks across various criteria, with key risks reviewed by the Board. In 2022, we conducted a scenario analysis aligned with our risk management matrix to explore climate risks and opportunities across our value chain, identifying areas crucial to transitioning to low-carbon operations. Insights from an on-site risk assessment conducted at the end of 2024 at our crafting sites in Thailand, will enable us to proactively implement tangible recommendations to mitigate potential future supply chain disruptions caused by climate change.

INTERNAL CONTROL AND RISK MANAGEMENT The Board and Executive Management are responsible for Pandora's internal control and risk management systems in relation to the financial and sustainability reporting process.

Control environment The Group's internal control framework identifies key processes, inherent risks and control procedures to reduce and mitigate financial and sustainability risks and ensure reliable financial and sustainability reporting. The Audit Committee assists the Board in supervising the financial and sustainability reporting process and monitoring the effectiveness of the internal control and risk management systems. Executive Management is responsible for maintaining and strengthening the overall control environment, identifying weaknesses and ensuring necessary steps are taken to mitigate financial and sustainability risks through standardisation and process optimisation. A central Internal Audit and Compliance Controlling (IACC) function has been established to help Pandora accomplish its objectives by bringing a systematic and disciplined approach to evaluating and improving the effectiveness of internal control, compliance and governance processes. In 2024, the head of the IACC function reported to Pandora's Senior Vice President, Corporate Finance, with a dotted reporting line to the Audit Committee Chair. In 2025, the reporting line will be changed to the Chief Financial Officer, still with a dotted reporting line to the Audit Committee Chair.

Risk assessment The Board and Executive Management assess risks on an ongoing basis, including risks related to the financial and sustainability reporting, and they assess measures to manage, reduce or eliminate identified risks. The IACC function assists Executive Management and the Audit Committee in identifying and monitoring financial and sustainability risks in the reporting process. The Audit Committee frequently reviews selected high-risk areas, including significant accounting estimates and material changes to accounting policies. Pandora's Global Risk & Insurance function facilitates identification and monitoring of material enterprise risks and validates measurements taken to reduce the risks to an acceptable level.

Control activities The financial and sustainability information reported by Pandora A/S and its subsidiaries follows a formalised and structured process and is controlled by local controllers with local market knowledge as well as the controlling function within Pandora Global Business Services and Corporate Finance. The Group controlling function is continuously trained in new accounting, sustainability and reporting requirements and monitors compliance with relevant legislation and regulations on an ongoing basis. The financial and sustainability reporting process is dependent on the Group's IT systems. Any weaknesses in system controls and related risks to the financial and sustainability reporting are mitigated by manual controls. Each entity and Global Business Services assess their control environment through a self-assessment of the effectiveness of the implemented controls, including those related to sustainability. The sustainability processes continue to evolve alongside the maturation of the guidance of the requirements in this area. The IACC function evaluates the effectiveness of the Group's control environment on an ongoing basis and reports its findings to the Audit Committee.

Monitoring Pandora's internal control procedures and risk management systems, including the whistleblowing function, are continuously monitored, tested and documented. The Audit Committee monitors internal control and the risk management process to ensure that identified risks are mitigated. In addition to monitoring of procedures and systems, financial and sustainability risks are reviewed through audits performed by the IACC function.

Information and communication Group entities are assigned dedicated controllers within Corporate Finance to ensure a direct line of communication. The Corporate Finance function reports to the Chief Financial Officer. In addition, the IACC function is present at all Audit Committee meetings and provides regular status updates on the control environment. Furthermore, the head of IACC has regular meetings with the Chief Financial Officer and meetings with the Audit Committee without the presence of the management team. This setup ensures transparency, and that communication is shared with the Audit Committee on a timely basis. The Board has adopted an Investor Relations Policy that requires all communication to stakeholders, including financial and sustainability reporting, to be conducted adequately, timely and openly – both internally and externally – and to be conducted factually and truthfully and in compliance with laws and applicable regulations.

In 2024, Qt began to integrate sustainability-related impacts, risks and opportunities into its risk management. The process will continue in 2025 with an assessment of risks related to sustainability reporting; how easily and accurately the necessary information is available and how these risks should be taken into account in policies and practices. However, during 2024 Qt has not yet established a clear model or method for managing these risks or determining their order of priority.

The Business Risk & Audit function performs audits on specific financial, operational compliance and non-financial information. The company has further improved controls around non-financial reporting, both at the local and global level, to increase alignment with strategic focus.

Operating companies report on non-financial data every quarter through the financial system in accordance with global non-financial reporting guidelines. At Group level, the data is consolidated, validated, and discussed with management. At both local and global level, the governance has been further enhanced, data reviews are performed and, in the event of irregularities, discussed with the relevant data and content owners.

Protecting the personal data and privacy of employees, talent, clients and suppliers is a top priority. The company has rigorous policies and procedures to protect the business from cyber threats and to protect data, and continually reviews and refines these. To address the complexities of collecting global data amid varying local privacy legislations, an innovative pilot scheme was launched in 2024 focusing on empowering individuals to voluntarily self-identify, enabling meaningful insights while respecting privacy.

Repsol's corporate governance system guides the structure, organization and operation of its corporate bodies in the best interests of the company and its shareholders. It is based on the principles of transparency, independence and accountability and is fully compliant with current national and international standards.

The governance structure adequately differentiates governance and management functions from oversight, control, and strategic definition functions.

The Audit and Control Committee is one of the specialized Board committees responsible for oversight and control functions, including risk management and internal controls.

Sustainability information is presented in accordance with the requirements of the Corporate Sustainability Reporting Directive (CSRD) and the European Sustainability Reporting Standards (ESRS) adopted through the European Commission's Delegated Act of July 31, 2023.

Risk management and internal controls over sustainability reporting

The Audit Committee dealt with the monitoring of the accounting process, the effectiveness and further development of the internal control system (including the sustainability-related internal control system), the risk management system, the internal audit system, the business continuity management and the compliance management system including data protection management.

The audit focus of 2024 was explained. In this context, the new requirements were further addressed by the implementation law on CSRD, the regulations of EU sustainability reporting and the specific aspects of accounting, as well as the audit requirements for the sustainability statement, including the resulting expansion of the task list of the Audit Committee due to CSRD.

As a result, the Audit Committee has not become aware of any circumstances that would contravene the adequacy and effectiveness of these systems in their entirety. The Audit Committee has ensured that the Company continuously reviews the systems and systematically and consistently expands them.

During the year, the members of the Audit Committee were also informed in the meetings by executives of the company on the corporate function Legal, Corporate Sustainability Responsibility (CSR), Compliance and Tax Compliance, Risk Management and Internal Audit in the Rheinmetall Group.

Internal Control Systems

The members of the Audit Committee were able to gain a deeper impression of the existing structures and organizations, processes and regulations, as well as to question and comment on the further developments and planned improvement measures presented in these topics.

Risk Management and Internal Controls

Risk Management Framework: Risk and opportunity management is embedded into our business practices at all levels of the Roche Group. Our Risk Management Policy outlines Roche's approach to identifying, analysing, managing and reporting material risks and opportunities.

Our approach is formalised within the Group risk management process, which establishes how our divisions and Group functions assess risks and opportunities and develop response plans for the most material ones identified. This happens in parallel to the development of our business plans.

Sustainability Risk Management: Through our business environment risk and opportunity assessment process, we identify and assess the impact of environmental, social, economic and governance trends. The Corporate Sustainability Steering Committee evaluates and selects the ten trends most relevant to Roche annually.

Internal Controls: The Group Risk Advisory team fosters best practice by raising awareness of the importance of risk and opportunity management through educational initiatives including online training targeted at all employees, as well as practice labs and customised training for line managers and risk and opportunity managers.

Oversight: The effectiveness of Roche's risk management process is regularly monitored by the Group Risk Advisory team. The overall process is reviewed by the Audit Committee of the Board of Directors and also externally when appropriate. A consolidated Group Risk Report covering all material risks and opportunities is discussed with the Corporate Executive Committee and reviewed by the Board of Directors annually.

The Audit Committee focused on the independence of the statutory auditor and of the auditor of sustainability reporting, in particular the scope of non-audit services provided by the auditor and the quality of the audit. The consultations of further meetings of the Audit Committee concerned IT security and IT structures, monitoring the accounting process, as well as the effectiveness of the accounting-related and non-accounting-related internal control system, the risk management system, and the internal audit system.

The Salzgitter Group operates a groupwide monitoring system for the early risk detection and a risk management system.

Risk management and internal controls process for sustainability data

Description of scope, main features and components of risk management and internal control processes and systems in relation to sustainability reporting

Sanofi applies the Internal Control - Integrated Framework issued in 2013 by the Committee of Sponsoring Organizations of the Treadway Commission (COSO), reflecting its listing on the US market and in light of obligations under the Sarbanes-Oxley Act. The COSO framework is considered equivalent to the reference framework of the Autorité des Marchés Financiers (AMF, the French Financial Markets Regulator). Internal Control is a process, performed out by an entity's Board of Directors, management and other personnel, and is designed to provide reasonable assurance regarding the achievement of objectives related to: • the effectiveness and efficiency of operations; • the reliability of reporting, particularly with regard to accounting and financial information; and • compliance with applicable laws and regulations.

Sanofi's Internal Control system has adopted the COSO guidance "Achieving Effective Internal Control Over Sustainability Reporting (ICSR): Building Trust and Confidence through the COSO Internal Control – Integrated Framework (2023)" as the foundation for establishing and maintaining an effective system of internal control over sustainability reporting.

Approach to the assessment of reporting risks

Description of risk assessment approach

During the first year of the CSRD rollout, the Internal Control function focused on review processes impacted by the European directive using a risk-based approach to identify main metrics to focus on. Priority was given to document quantitative data across the impacted processes, collected through interviews with multiple data points owners.

Additionally, the Internal Control function used the "List of ESRS Data Points — Implementation Guidance" released by EFRAG to collect, at data point granularity, the information (policies, systems used, scope of applicability, operational risks, etc.) pertaining to the quantitative and qualitative data to be disclosed under the CSRD.

At the end of this financial year, the Internal Control function delivered a mapping of the IROs by end-to-end process, as well as a systems and risks inventory, the first step in rolling out the internal control system.

Risks identified and strategies implemented in the sustainability reporting process to mitigate these risks

Activities that seek to mitigate identified risks are in progress and being rolled out over time by corporate support functions as part of their operational remit. The main mitigating activities in place are mainly consistency checks, gap analysis, variance analysis versus prior year, and reconciliations. As part of the mitigating activities implemented across the processes impacted by the CSRD, a similar review process is implemented using the "four eyes" principles. When the global team performs consistency checks, variations are investigated and explanations sought from local contributors; if corrections are needed, actions are taken either at local or global level.

Those mitigating activities were not part of an established internal control process. Further mitigating activities and formalization might be necessary and will be assessed by the Internal Control function as part of the deployment process.

The Internal Control function is developing a risk management strategy for sustainability reporting that will continue to draw on a training program for functions impacted by the CSRD. In July 2024, the Internal Control function delivered an introduction training for data point owners, addressing key concepts around risks and how to design and implement mitigating actions.

The Internal Control function already worked on a multi-year plan to develop and deploy a control environment to cover the CSRD-related material topics. The multi-year plan includes a training program to educate certain relevant contributors (globally and locally) in risk management and the control environment required in the context of audited sustainability reporting.

Integration of risk assessment findings and internal controls into sustainability reporting processes, with periodic updates to the Board or its Committees

Starting from 2025, the Internal Control function will integrate findings reporting and monitoring related to sustainability reporting into its standard process, in a similar way to the process used for its Severe Impact Controls & Sarbanes-Oxley controls.

At present, the Audit Committee, whose remit includes assessing the effectiveness of internal control, works with the Appointments, Governance and CSR Committee on monitoring the rolling out the ongoing program and processes to improve the reliability of and control over our ESG data and reporting processes.

Risk management and internal controls over sustainability reporting

The Audit and Compliance Committee comprehensively monitored SAP's risk management system, internal control system, sustainability reporting, and compliance system. The Committee regularly discussed these systems as recurring agenda items.

The Committee confirmed that, as part of its supervisory work, it had addressed the SAP Group's internal control, risk management, and internal auditing systems, and found the systems to be effective.

The auditor reported that it had not identified any material weaknesses in SAP's internal control and risk-management systems for financial reporting. Both the Audit and Compliance Committee and the Supervisory Board asked detailed questions about the form, scope, and results of the audit.

SAP has established processes to identify, assess, and manage the impacts, risks, and opportunities (IROs) related to sustainability. The Committee and the Supervisory Board were informed about this process throughout 2024.

The Audit and Compliance Committee looked closely at the new European Corporate Sustainability Reporting Directive (CSRD) and at how SAP technologies for sustainability reporting, such as the SAP Sustainability Control Tower solution, can be used to track ESG data so that companies can meet sustainability targets.

BDO AG Wirtschaftsprüfungsgesellschaft provided limited assurance on the group sustainability statement included in the combined management report, and reasonable assurance on selected sustainability information in accordance with International Standard on Assurance Engagements (ISAE) 3000 (Revised).

Risk management and internal controls over sustainability reporting

Sustainability reporting is carried out in compliance with Siili's principles and processes for regulatory reporting, risk management and internal control. Internal control for sustainability reporting has been organised based on the Group's governance model for internal control.

The assessment of risks related to sustainability reporting focuses particularly on reporting related to risks concerning the highest-materiality impacts, risks and opportunities based on the double materiality analysis as well as metrics involving the highest degree of calculation technical uncertainty. Prioritisation is made in connection with the risk assessment primarily based on the materiality of the sustainability theme being reported and secondarily on the related calculation technical uncertainty.

Siili's Board of Directors is informed of internal control for sustainability reporting as part of other reporting on internal control. The outcomes of internal control are monitored, and the control is steered by the Board of Directors and the Management Team.

The identified risks associated with sustainability reporting are the accuracy of the reported information and the timeliness of reporting. To ensure the accuracy of reported information and the timeliness of reporting, Siili is committed to continuously develop systematic collection and management of data and the assignment of roles and providing instructions for responsible personnel.

The Board of Directors, supported by its Audit Committee, holds ultimate responsibility for the proper organisation of internal control related to financial reporting. The Board of Directors reviews and adopts sustainability reporting in connection with the financial statements. The Chief Executive Officer (CEO), supported by the CFO and the General Counsel, is responsible for implementing internal control related to financial statement reports.

Risk Management and Internal Controls: Stora Enso has established comprehensive risk management and internal control systems over sustainability reporting:

Risk Management Structure:

• Risk management is integrated into the governance structure with dedicated risk management functions
• Internal control systems are established to ensure reliable sustainability reporting
• The Financial and Audit Committee oversees risk management and internal controls

Sustainability Reporting Controls:

• The Company prepares its sustainability statement in accordance with the European Sustainability Reporting Standards (ESRS)
• Internal controls ensure the accuracy and completeness of sustainability data
• Regular monitoring and evaluation of sustainability performance metrics

Data Management Systems:

• Systematic collection and verification of sustainability data across operations
• Integration of sustainability metrics into regular reporting processes
• Quality assurance procedures for sustainability data and disclosures

Oversight and Assurance:

• Board-level oversight through the Sustainability and Ethics Committee
• Internal audit functions include sustainability reporting areas
• External assurance processes for key sustainability metrics
• Regular review and updating of sustainability reporting procedures

The Audit Committee is responsible for the preliminary audit of the documents relating to the annual financial statements and the consolidated financial statements, as well as the preparation of the adoption or approval of these and the Management Board's proposal for the appropriation of profits. The committee discusses with the Management Board, among other things, the principles of compliance, the risk management system and the appropriateness and functionality of the internal control systems.

Risk management and internal controls over sustainability reporting

Risk Management Framework

TeamViewer has established a comprehensive risk management system that encompasses sustainability-related risks and internal controls over sustainability reporting.

Audit Committee Role in Sustainability Risk Management

The Audit Committee serves as the Sustainability Committee and monitors:

• Risk Management: Oversight of risk management effectiveness related to sustainability matters
• Internal Control System: Monitoring of internal control systems including sustainability reporting controls
• Compliance: Dealing with compliance issues including environmental, social and governance (ESG) topics
• Sustainability Reporting: Monitoring and control of CSRD (Corporate Sustainability Reporting Directive) preparation and implementation

CSRD Implementation and Controls

During 2024, the Audit Committee received regular updates on:

• CSRD Implementation Status: Ongoing monitoring of Corporate Sustainability Reporting Directive implementation progress
• Reporting Preparation: Controls over the preparation of sustainability reporting in accordance with ESRS (European Sustainability Reporting Standards)
• Quality Assurance: External limited assurance engagement by PricewaterhouseCoopers for the Group non-financial statement

Internal Control System for Sustainability

Information Security Management System (ISMS):

• ISO 27001 certified Information Security Management System
• Successfully passed surveillance audit in 2024
• Integrated with overall risk management framework

Data Protection Controls:

• Privacy Management Framework with comprehensive data protection controls
• Technical and organizational measures (TOMs) reviewed annually (last update October 2024)
• Data Protection Officer providing independent oversight
• Regular data protection impact assessments

Sustainability Risk Monitoring

Environmental Risk Controls:

• Carbon footprint monitoring and reporting
• Climate-related risk assessment processes
• Monitoring of net zero emissions commitment progress

Social Risk Controls:

• Workforce diversity and inclusion monitoring
• Health and safety risk management systems
• Data protection and privacy risk controls

Governance Risk Controls:

• Cybersecurity risk management with 24/7 monitoring
• Business continuity management (BCM) for operational resilience
• Compliance monitoring across multiple jurisdictions

External Assurance and Verification

Independent Verification:

• PricewaterhouseCoopers conducted limited assurance engagement on Group non-financial statement
• Multiple ESG rating agencies assess and verify sustainability performance (MSCI, ISS, Sustainalytics, CDP, EcoVadis)
• Third-party certifications for data protection and security standards

Continuous Improvement:

• Regular reviews of sustainability reporting processes
• Integration of stakeholder feedback into risk assessments
• Alignment with evolving regulatory requirements and best practices

Board Oversight

Supervisory Board Monitoring:

• Regular reporting on sustainability strategy and performance
• Oversight of ESG-related risks and opportunities
• Monitoring of sustainability rating performance and index inclusion (STOXX DAX ESG 50+)

Management Board Responsibility:

• Regular updates to Supervisory Board on sustainability strategy
• Integration of sustainability considerations into strategic decision-making
• Accountability for sustainability performance and reporting accuracy

Internal control and risk management

Tietoevry is committed to upholding a strong internal control environment and managing risks effectively to ensure the integrity of its financial reporting, protect its assets, and achieve strategic goals.

Our internal control framework supports strategic execution and ensures regulatory compliance. It is built on key components such as the risk management framework, financial control, internal audit, and supporting policies and processes.

The aim of Tietoevry's internal control framework is to ensure that operations are efficient and aligned with strategic objectives. It is designed to guarantee accurate, reliable, complete, and timely financial reporting and management information.

This framework promotes ethical values, good corporate governance, and sound risk management practices. Internal control and risk management activities are integrated into Tietoevry's management practices and business planning processes.

Risk management framework

Tietoevry employs a systematic approach to risk management to enhance the efficiency, control, profitability, sustainability, and continuity of business operations. This involves a comprehensive process of assessing, identifying, evaluating, and analysing risks that could impact business objectives, and also people and the environment from ESG perspective. By implementing appropriate risk treatment actions, the impact and likelihood of risks are minimized.

The risk management framework comprises the risk management organization, along with related policies, processes, tools, and standardized practices. This organization is responsible for developing and maintaining the framework, which includes risk reporting, governance, and monitoring of risk exposures across strategic, financial, operational, compliance, and personnel areas.

The risk management organization consists of the Corporate Risk Management unit, nominated Risk Managers and Business Continuity Managers in the businesses and key stakeholders in functions. A group-wide Risk and Resilience Forum (for Risk and Continuity activities) has been established for information sharing, setting the direction of risk and continuity management, as well as crisis management, collaboration between units and reviewing steering documents.

Tietoevry has also specified its compliance management system, including the compliance organization, steering model, and annual plan for compliance-related activities. The Group Compliance Officer is responsible for maintaining the whistleblowing channel and coordinating investigations as well as ensuring the effectiveness and functionality of the governance model for compliance work.

Financial control

The purpose of internal control over financial reporting is to ensure the correctness of financial reporting, including interim and annual reports and the compliance of financial reporting with regulatory requirements. The ARC has the oversight role in Tietoevry's external financial reporting.

Internal audit

The purpose of Tietoevry's internal audit function is to provide independent, objective assurance and advisory services designed to add value and improve Tietoevry's operations. The internal audit functionally reports to the ARC and administratively to the Chief Financial Officer (CFO).

Core services aim at assessing and assuring the adequacy and effectiveness of risk management and internal control within Tietoevry. Assurance and advice is delivered via data-driven business partnering, enabling digital end-to-end assurance and assurance by design.

Risk management and internal controls over sustainability reporting

Risk management framework TKH has implemented comprehensive risk management and internal control systems that include sustainability-related risks. Our risk management approach covers environmental, social, and governance risks that could impact our business operations and stakeholder value.

Sustainability reporting controls

• We have established internal controls over the collection, measurement, and reporting of sustainability data
• Data quality controls ensure accuracy and completeness of ESG metrics
• Regular internal reviews and assessments of sustainability performance indicators
• External assurance obtained on sustainability statements to verify accuracy and reliability

CSRD preparation and controls Although there is not yet a formal statutory requirement to report in accordance with the CSRD due to the delayed implementation, TKH prepared its sustainability statements 2024 based on the CSRD on a voluntary basis. At the same time, we obtained a voluntary assurance on the sustainability statements. This confirms our focus on sustainability and further integration of sustainability in our own operations, and value chains.

Monitoring and oversight

• The Supervisory Board regularly reviews sustainability risks and the effectiveness of related controls
• The Audit and Risk Committee provides oversight of sustainability reporting processes
• Regular monitoring of key sustainability performance indicators and progress against targets
• Integration of sustainability risks into enterprise risk management framework

Continuous improvement We continuously enhance our risk management and internal control systems for sustainability reporting, incorporating best practices and regulatory developments such as the CSRD requirements.

Risk management system

TotalEnergies has implemented a comprehensive risk management system to address sustainability-related risks and opportunities. The Company's risk management framework covers:

Climate-related risks and opportunities

• Physical risks: Managing impacts from climate change on operations
• Transition risks: Addressing risks from the energy transition
• Climate opportunities: Capitalizing on opportunities in low-carbon energies