Forvia SeEURONEXT: FRVIA

2025 Universal Registration Document

May 13, 2026 at 9:01 AM UTC · MarketScreener

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2025 UNIVERSAL REGISTRATION DOCUMENT

INCLUDING THE ANNUAL FINANCIAL REPORT AND THE SUSTAINABILITY STATEMENT

Contents

Message from Michel de Rosen Chairman of the Board of Directors of FORVIA

Message from Martin Fischer, Chief Executive Officer of FORVIA

2 4 Corporate governance 194

AFR

	4.2	Executive Committee	240
	4.3	Compensation of corporate officers	241

4 4.1 Board of Directors 196

AFR

Presentation of FORVIA Group
and its activities 6
1. FORVIA Group's Business Model 8

Summary of compliance with the recommendations of the AFEP-MEDEF Code
Shareholding by corporate officers and transactions in the Company's securities
Declarations of the members of the Board

282

284

1.2 Strategy	10		of Directors and Executive Management
1.3 Organization of Activities	14	4.7	Authorizations relating to security interests,	285
1.4 2025 Group Financial Performance	20		endorsements and guarantees
1.5 2025 Group Sustainability Performance	22	4.8	Agreements	285
		4.9	Other Information	288

Risk factors and Risk management AFR Methodology	24 26	5	Capital stock and shareholding structure	290
2.2 Description of Main Risk Factors	27	5.1	Shareholding structure	292
and their Management		5.2	Capital stock	296
2.3 Contributors and Enterprise Risk Management program	41	5.3	Transactions carried out by the Company in its own shares	310
2.4 Insurance and risk coverage	46	5.4	Share price	312
		5.5	Relations with the financial community	316

Sustainability 48

General information 50

Financial and accounting information 318

AFR

General preparation basis 51
General information - ESRS 2 52
1. Review of the Group's business and consolidated results
  320
  Environment 83
Note on Taxonomy regulations and the alignment 84
1. Outlook 337
2. Consolidated statement 338
  of FORVIA Group's activities
Climate change - ESRS E1 94
1. Statutory auditors' report on the consolidated
  financial statements for the year ended 31 December 2025
  420

Pollution of air - ESRS E2 122

		6.6	Parent company financial statements	431
Social	135	6.7	Statutory auditors' report on the financial	459
3.7 Own workforce - ESRS S1	136		statements
3.8 Workers in the value chain - ESRS S2	162
3.9 Consumers and end-users - ESRS S4 Governance	168 174	7	Other information	464
3.10 Business conduct - ESRS G1	175	7.1	Legal information	466
Appendices	179	7.2	Simplified organizational chart	470
3.11 Cross-reference table of the Corporate	180	7.3	Historical background	471
Sustainability Reporting Directive		7.4	Non material complementary sustainability	475
3.12 Report on the certification of sustainability	185		information
information and verification of the disclosure		7.5	Additional information on audits	500
requirements under Article 8 of Regulation			of financial statements
(EU) 2020/852		7.6	Additional information on audits	501
3.13 Information relating to the allocation of funds raised	191		of sustainability information
through the green bond issued by FORVIA SE		7.7	Sources regarding competitive position	502
		7.8	Declaration by the person responsible	502
			for the Universal Registration Document
		7.9	Cross-reference tables	503

Circular Economy - ESRS E5 126

Review of Company's business and financial results 426

In this Universal Registration Document, unless otherwise stated:

"Company", "FORVIA" or "FORVIA SE" refer to FORVIA, a European company;
"Group" or "FORVIA Group" refers to the group of companies comprising FORVIA SE and its consolidated subsidiaries (including HELLA GmbH & Co. KGaA and companies directly or indirectly controlled by it, hereinafter the "HELLA scope" or "HELLA");
"Group (excluding the HELLA scope)" or "FORVIA Group (excluding the HELLA scope)" refers to the group of companies comprising FORVIA SE and its consolidated subsidiaries (excluding the HELLA scope).

AFR

This information is an integral part of the Annual Financial Report as provided for in Article L. 451-1-2 of the French Monetary and Financial Code.

2025 Universal Regisration Document

including the Annual Financial Report and the Sustainability Statement

The universal registration document was filed on March 13, 2026 with the AMF as competent authority under Regulation (EU) 2017/1129, without prior approval pursuant to Article 9 of said regulation

The universal registration document may be used for the purposes of an offer of securities to the public or the admission of securities to trading on a regulated market if supplemented with a securities note and, if applicable, a summary and any amendments to the universal registration document. The whole is approved by the AMF in accordance with Regulation (EU) 2017/1129

This universal registration document is a translation in English of the official version of the universal registration document established in European Single Electronic Format (ESEF), filed with the AMF on March 13, 2026 and available on the AMF website https://www.amf-france.org/en. This translation is available on our website https://www.forvia.com.

2025 UNIVERSAL REGISTRATION DOCUMENT

‌from Michel de Rosen

Chairman of the Board of Directors of FORVIA

Who hasn't become attached to the company he or she has served?

Through shared efforts, challenges, setbacks and victories-in short, through the battles we fight together-bonds are forged between those who stand side by side. Over time, we also grow attached not only to the work itself but also the products, the places, and above all to colleagues-the women and men with whom we have shared meaningful moments, sometimes difficult ones.

Why is FORVIA a company that people easily relate to? Because of our products: they are visible, tangible, useful, easy to understand and innovative. They must be manufactured to the highest standards of quality and reliability. Because of our partners, our customers and our suppliers, who are numerous, diverse and demanding. Because of our international footprint: we are present on every continent except Antarctica. From one site to another, and even within our sites, this diversity of origins is one of our greatest strengths. And of course, because of our teams and our colleagues. The human richness of FORVIA is exceptional and deeply engaging-almost moving. Finally, because of our history. FORVIA began its journey within what was then called Peugeot Citroën, which later became Stellantis. Over time, Faurecia grew and transformed, progressively evolving the scope of its activities. The most impactful strategic milestone of our Group was the acquisition of HELLA, which enabled us to step fully into the worlds of electronics and lighting. This transformation turned Faurecia into FORVIA, with HELLA's teams joining the Group and bringing with them their professionalism, experience and expertise.

Each of us lives this shared history through our own individual journey. Some have been with the Group for forty years; others joined more recently. Some come from Sommer Allibert, others from Epeda Bertrand Faure, Emcon Technologies, Parrot Automotive, Clarion or HELLA. We are different and diverse-young and old, women and men, engineers, operators, salespeople, finance professionals, legal experts, managers, and many more.

What unites us are our shared values-drive, accountability, team work, agility, respect and open-mindedness-and one ambition: pioneering technologies for mobility experiences that matter to people.

We are in the world of cars. Sometimes, we call it "the wheels." It is a living, industrial, colorful, technological and fascinating world-constantly in motion, competitive, demanding, tough. My father worked at SIMCA. He passed on to me a love for "the wheels," an instrument of freedom and a source of pride.

FORVIA's ambition has been shaped collectively over time. It is also reflected in the way our governance has been structured and has evolved to best address the challenges of our industry. Since 2016, the roles of Chairman and Chief Executive Officer have been separated. This organization enables strong and agile leadership, enriched by complementary perspectives that strengthen our ability to move forward with clarity in an increasingly uncertain and complex world. The Chief Executive Officer is the head of the Company. As the leader, the Chief Executive Officer is responsible for running it, driving it forward, transforming it and adapting it to the challenges of today and tomorrow. The Chairman presides over the Board of Directors, which represents the shareholders and takes major decisions, such as the appointment of the Chief Executive Officer, the strategy, the medium-term plan, the budget, and major acquisitions and divestments. Certain decisions are submitted by the Board of Directors to the Shareholders' General Meeting.

Our company's governance is therefore built on three levels: Management, the Board of Directors and the Shareholders' General Meeting. For this governance to function effectively, an open and constructive dialogue is essential-particularly between Management and the Board of Directors. Such a dialogue exists at FORVIA.

Faurecia was founded in 1998. Several leaders have succeeded one another and, each in turn, have helped drive change and shape our Group: Daniel Dewavrin, Pierre Lévi, Grégoire Olivier, Yann Delabrière and Patrick Koller. Each brought their own contribution, their personal imprint and their momentum.

Having joined in 2024 and appointed Chief Executive Officer in March 2025, Martin Fischer is a terrific leader, known for his competence, courage, common sense, determination, integrity, decisiveness and humility. He brings new energy and fresh eye, with a portfolio of activities currently being redefined and a management culture that emphasizes performance, empowerment and accountability. I have complete confidence in his ability to guide FORVIA toward new horizons.

Who can predict what will happen tomorrow in our industry? Uncertainty is no longer the exception-it has become the permanent backdrop. I joined the Board of Directors in 2016. Who at that time could have foreseen the COVID pandemic, the gilets jaunes movement, the (temporary) return of inflation, or the shortage of semiconductors? Back then, the future of our industry seemed clearly mapped out for most professionals: electrification, autonomy, connectivity, sustainable and shared mobility.

These major announced trends have materialized only partially, unevenly, and sometimes in ways quite different from what we had imagined. In the meantime, major crises have reshuffled the deck, technological disruptions have accelerated, and new needs have emerged. In this dynamic, intense, turbulent, roaring and highly competitive world, we have had to learn humility, agility and resilience. It is in the ability to absorb the unexpected, to make decisions despite uncertainty, and to deliver results despite adversity that a company's true strength is revealed.

FORVIA opened a new chapter in 2025 under the leadership of Martin Fischer.

Geopolitical tensions, rising tariffs, persistent pressure on supply chains and intensified competition made for a turbulent environment. Yet FORVIA moved forward with determination.

Driven by Martin Fischer's leadership and by the commitment of every FORVIAN, the Group was able to absorb the shocks and maintain a demanding course. Martin Fischer's motto-"Dare, Do, Deliver"-did more than inspire our actions: it underpinned solid performance across all fronts, including sustainability, a strong capacity for innovation showcased in particular at the Auto Shanghai trade show, and robust commercial momentum. At the same time, Martin Fischer launched a deep business transformation, simplified the organization and reinvigorated our culture-key levers to strengthen our agility and prepare FORVIA to face, with clarity and confidence, what the future holds.

However, in 2025, FORVIA's share price remained unsatisfactory, at a level that does not, in my view, reflect the full potential of your company. It nevertheless recorded significant growth. While it still falls short of our ambition, this is clearly an encouraging sign: our efforts are being recognized by the markets, and we are moving in the right direction.

With IGNITE, the new strategy unveiled at our Capital Markets Day on February 24, 2026, we now have an even more structured framework to maintain this positive momentum and amplify our collective performance. IGNITE is setting a path for a two-phase journey, combining accelerated execution, discipline and short-term financial strengthening with a clear ambition for growth and leadership post-2028.

The Board of Directors is fully involved in this momentum, and the evolution of its composition reflects this commitment. I would therefore like to welcome the arrival

of Pierre-André de Chalendar, who joined the Board as an observer in September 2025, as well as that of Lutz Meschke, who joined as a Board member in January 2026. Their recognized experience enhances our ability to manage complexity, strengthens our long-term vision, and further anchors the foundations of our transformation.

I had the honor of chairing this Group-your Group-for ten years. As I approach the end of my term, I would like to express my deep gratitude to all those who have accompanied me on this journey: to the Board of Directors, for its trust, commitment and enlightened perspective; to the two Chief Executive Officers with whom I had the honor to work, Patrick Koller and Martin Fischer, for their unwavering determination; to our teams and employees, for their daily engagement; to our shareholders, for the strength of their support; to our suppliers, without whom nothing would be possible; and to our customers, who challenge us every day to aim higher.

The FORVIA I will leave in June 2026 will be different from the one I joined in 2016. We are more technologically advanced; stronger in Asia; we have entered new worlds-first and foremost electronics and lighting; we have strengthened our Research & Development and innovation capabilities; we are firmly committed to the fight against climate change; and we have given greater space to women within the Company's governing bodies.

Undoubtedly, the FORVIA of 2036, ten years from now, will also be different from the one we know today. In 2016, 2026 and 2036 alike, a few defining traits will continue to characterize our Group: fighting spirit, courage, the ability to change, a passion for quality, customer obsession, and the determination to build something greater than ourselves.

As I hope and firmly believe, if the Shareholders' General Meeting so decides on June 4, Pierre-André de Chalendar will be elected as a Board member. The Board will then be

able to appoint him as Chairman. I know Pierre-André well. He is remarkable. He is a great industrial leader-experienced, talented, capable and humble. I have no doubt that he will work extremely well with the Board of Directors and with Martin Fischer. Together, they will lead our Group toward new challenges.

Thank you all. Go, FORVIA, go!

‌from Martin Fischer

Chief Executive Officer of FORVIA

My entire career has been deeply rooted in the automotive industry. When I arrived at FORVIA more than a year ago, I was immediately able to recognize the strength of a Group built on solid foundations and forward-looking innovations. Our deep customer relationships and diverse global footprint across Europe, the Americas and Asia position us well for growth. I also saw how innovation and sustainability go hand in hand, with mobility solutions that truly set us apart. If I am to choose one phrase to characterize FORVIA, I would say: can-do attitude. From our Plant Teams to our Board of Directors, we are 150,000 individual professionals but we share the same passion to deliver for our business.

While setting out our three strategic priorities early on -Best-in-class Performance, Business Transformation, and Invigorating Culture - it was fundamentally important to motivate the entire organization to drive performance during times of a Chief Executive Officer change in a challenging environment.

The context was intense: shifting political dynamics, rising tariffs and an automotive industry in rapid reconfiguration. Whereas the global volume growth was modest, the structure of the market keeps changing. China and its OEMs globally gain momentum. The European market continues to assess its approach. North America clearly declared its push for local supply and continued demand for combustion engine-based vehicles. We have seen new opportunities in India, Japan and South Korea and build on our strong presence in South America. In short, it was a year that tested us on many fronts, but our results show that we continue to navigate complex commercial conditions, persistent supply-chain disruptions and volatile financial markets.

Through it all, we further strengthened our discipline on cost and cash and mastered optimization. We executed strategies to mitigate the financial impacts from the tariffs as well as quickly realign to address the Nexperia semiconductor situation. We reconfigured Symbio, our joint venture to adapt to delays in market growth in the

hydrogen segment, and we continued to adjust our global footprint to align capacity with market demand. In the midst of these challenges, we launched the Simplify program to become more agile, reduce complexity and leverage tools such as artificial intelligence and automation where it makes sense for our business.

Business momentum remained resilient, as we acquired new awards around the globe. It is worthwhile mentioning that we achieved the most significant growth in Asia. In China we strengthened our customer portfolio through new contracts with Geely, Luxeed and a Chinese tech player, while a major Seating deal with a Chinese OEM outside China confirmed the Group's global competitiveness. Additionally, FORVIA won over $1 billion in new and extended business with a major European automaker, covering Seating, Interiors and FORVIA HELLA's Lighting, to be produced across seven plants in North America.

Sustainability continued as a value in the way we do business. For the third consecutive year, the Group appeared on CDP's Climate Change "A List", demonstrating consistency in both strategy and delivery.

The year 2025 also set the foundation for the Business Transformation which is to come. It was a year of significant portfolio review and assessment to ensure we continue to invest in innovation and product offerings that will drive competitive products for our customers and longterm value for our shareholders. Our commitment to innovation was clearly demonstrated as our teams showcased their creativity and technical acumen with nine world premieres at Auto Shanghai. Geographically, our shift from West to East continued, with India, South Korea and Japan emerging as important pillars for growth. Internally, we extended the FORVIA Excellence System across design and production disciplines to raise even further our high standards for performance. I am encouraged with how our teams have risen to the challenge to deliver safe, consistent and efficient production every day and across every plant.

Since the very beginning, one of my top priorities has been to reinvigorate our culture to strengthen how we lead and operate. The goal is to make FORVIA faster, more agile and better performing in the complex and volatile automotive environment. Together with the Executive team, we introduced clear leadership principles - Guide, Empower, Recognize - to encourage initiative and accountability at every level. At the same time, we kicked off an organizational refresh to propel our cultural and business goals. Divisions, which are the regional segments of our global Business Groups, were identified as the drivers of decisions. This Division-centricity creates a clear and direct line of financial and operational accountability and decision-making starting from plants, through to Division leadership and ultimately to Business Groups and the Group. It also ensures that resources are placed as closely as possible to the heart of our business: our Plants. The FORVIA culture is about trusting our teams, simplifying how we work and enabling our global talent to deliver results together.

Our 2025 results reflect tangible financial progress we see already: margin performance, higher net cash flow of better quality, well secured financing and an organically improved leverage factor.

With strong foundations in place, FORVIA opens 2026 ready for the next chapter. At our Capital Markets Day on February 24th, we unveiled IGNITE, our plan to drive sustainable growth and dependable financial performance by 2030 - a plan that was positively received by the markets.

What FORVIA stands for, and will continue to stand for, is clear: a technology-driven company with global reach, focused on serving our customers. Leading globally through innovation. Delivering consistently through empowered and engaged teams.

The first phase of the plan, through 2028, is about focus and strengthening. We will simplify the Group - structure and processes - sharpen our portfolio and reinforce financial resilience. This phase is propelled by execution and anchored in best-in-class performance: raising

operational standards end-to-end, improving agility and strengthening cost competitiveness. This effort is underpinned by our invigorated culture and organization. From 2028 onward, our ambition is clear: lead & grow. We will build on our strengths, reinforce competitive market positions and accelerate in fast-evolving mobility markets, while supporting sustained margin expansion.

The Group's portfolio is organized in 2026 around two clusters: Growth and Value. The former, led by Electronics and Seating, focuses on long-term expansion and high-potential technologies. The latter continues to provide cash generation, resilience and strategic flexibility, supported by operational efficiency and disciplined investment. We are also seizing under-served opportunities: commercial and industrial vehicles, Japanese OEMs and India's booming appetite for premium products. We do this while continuing to expand with Chinese customers both in China and globally. This deliberate diversification strengthens the Group and reduces reliance on any single market or customer.

Our product range reflects the future of the industry: advanced technologies for safer, smarter and more comfortable mobility; next-generation vehicle architecture; and sustainability embedded across products, operations and the value chain.

As I reflect on all we have accomplished in my first year as Chief Executive Officer, I know it would not be possible without that can do attitude of all FORVIA colleagues I observed my first day, and every day since then. I am grateful for the commitment of our senior leaders and the trust of our Board of Directors which has strongly supported me in this new vision and strategy for the future of FORVIA. To our shareholders, I want to express my thanks to you as well for your confidence and my renewed commitment that we will deliver on what we set out to accomplish.

With these clear priorities, strong foundations and an ambitious strategy, FORVIA stands ready to drive what matters and unlock what's next. Together, we will continue to dare, do and deliver.

‌1

FORVIA Group's Business Model 8
Strategy 10
1. Business environment 10
2. FORVIA Group strategy 11
3. Innovation Ecosystem of FORVIA Group 13
Organization of Group's Activities 14
2025 Group Financial Performance 20
2025 Group Sustainability

Performance 22

6 2025 UNIVERSAL REGISTRATION DOCUMENT

Presentation of FORVIA Group and its activities

2025 UNIVERSAL REGISTRATION DOCUMENT 7

‌FORVIA Group's Business Model

RESOURCES OF FORVIA GROUP STRATEGY & OPERATIONAL MODEL
People
- 137,500 employees
- 140+ nationalities in 40 countries
- 5 FORVIA University campuses
  Industrial footprint
- 246 industrial sites(1)(2)
- 93% of production sites certified
  ISO 14001
  We pioneer technology
  ...
  R&D capabilities
- 73 R&D centers(3)
- 12,000 engineers
- Global innovation ecosystem
  Supplier network
- 87% of direct purchasing volume assessed for CSR performance by EcoVadis(4)
- Targeted minimum EcoVadis score of the panel suppliers: 60/100
OUR THREE
STRATEGIC PRIORITIES
¤ BUSINESS TRANSFORMATION
¤ BEST-IN-CLASS PERFORMANCE
¤ INVIGORATING CULTURE
AND ORGANIZATION
1. Industrial sites include isolated plants and industrial campuses (two or more plants in a 0.5 km distance are belonging to one industrial campus, whatever their legal entities); Plants include production sites or Just-in-Time plants and exclude warehouses or distribution centers.
2. Total number includes eleven plants in industrial campuses for multiple business groups.
3. Including main & mid-size tech centers and headquarters.
4. Scope of FORVIA Group representing around 3,500 direct suppliers.
  FORVIA Group's Business Model
  1
  OUR SIX
  BUSINESS GROUPS
  VALUE CREATED BY FORVIA GROUP
  
  ¤ SEATING
  ¤ INTERIORS
  ¤ CLEAN MOBILITY
  ¤ ELECTRONICS(5)
  ¤ LIGHTING(6)
  ¤ LIFECYCLE SOLUTIONS(6)
  People development & inclusion
  - 30% women among managers and skilled professionals
  - 28.4% women among top 300 leaders(7)
  - 25.3 hours of training per employee
    
    Automotive industry
  - Close to 775 programs in Group's portfolio at the end of 2025
  - 280+ program launches in 2025
  - 12,400 patents in Group's portfolio at the end of 2025
  - 1,195 patents filings in 2025
    
    ...
    for mobility experiences that matter to people.
    Planet
  - CO2 intensity: 4 tons of CO2 eq scopes 1 & 2 / € million sales
  - Energy intensity of sites: 87 MWh
    scopes 1 & 2 / € million sales
  - Waste intensity: 9 tons waste / € million sales
5. Includes Faurecia Clarion Electronics and FORVIA HELLA Electronics.
6. FORVIA HELLA.
7. FORVIA Group excluding the HELLA scope.

‌Strategy‌

Business environment

The automotive industry operates in an unstable and challenging environment shaped by geopolitical shifts, technological disruption, and regulatory shifts. These dynamics affect all players and demand constant adaptation to remain competitive.

Five major developments stand out:

Rise of a Dual-Speed World

Global growth is uneven. India and Asia-Pacific post strong volume increases, while mature markets in Europe and North America remain flat, with growth capped at around 1% annually. This creates a dual-speed dynamic where emerging markets drive expansion while mature regions focus on profitability and technology upgrades.

At the same time, Chinese automotive Original Equipment Manufacturers ("OEM") grow rapidly, launching new models at high frequency and gaining share domestically and abroad.

Changing Electrification Paths

Software-defined Vehicles

In-cabin user Experience

shifts from a driving-focused space to one centered on comfort, productivity, or entertainment.

for new services, content,

and interactions that redefine what it means to be in a car.

Electrification remains a core industry trend but roll out pace is being adjusted.
OEMs in the US and European Union are revising strategies amid regulatory uncertainty, while China maintains a stable Electric Vehicle ("EV") push.
Alternative technologies are gaining traction as transitional solutions: range extender EVs and hybrid powertrains are resurging to address concerns over charging infrastructure, range limitations, and affordability.

Software-defined Vehicles ("SDV") is spreading further, supported by centralized Electrical/Electronic ("EE") architectures, enabling connected and personalized experiences throughout the car lifecycle.
Leveraging data and software, manufacturers aim to deliver continuous feature updates that enhance safety, comfort, and user engagement.

As Level 4/5 robotaxi pilots scale up and L2+ driver-assistance becomes mainstream, the cabin
The in-car experience moves beyond the act of driving, opening opportunities

Traditional global OEMs face slower product cycles and modest growth, leading to market share erosion and pressure to adapt.
Growing Regionalization
The industry is moving away from globalization toward regionalization, driven by geopolitical tensions, notably between the United States of America ("US") and China.
Countries are implementing sovereignty measures to secure access to critical materials and components such as semiconductors and rare earths.
Rising tariffs between Europe, China, and North America are reshaping trade economics and prompting reviews of production footprints and supply chains.
Regulatory Divergence
Regulatory frameworks are evolving unevenly. On the sustainability front, China maintains strict CO₂ and Battery
Electric Vehicles ("BEV") targets, ensuring stability
for electrification. In contrast, the US-and to a lesser extent Europe-are reconsidering timelines and requirements.
On the technology front, the US is introducing measures to ban Chinese technology in vehicles, citing concerns over dependency and data security.
These shifts add complexity for global players operating across multiple regimes.
With a product portfolio spanning smart car technologies and electrification solutions, combined with a global footprint and strong exposure to Chinese OEMs, FORVIA Group is well positioned to navigate this complex environment. These strengths provide a solid foundation to adapt, compete, and emerge stronger in a rapidly transforming industry.
1

‌FORVIA Group strategy
FORVIA Group enters this new strategic cycle with strong foundations. The Group benefits from leading technologies that enable safer, cleaner, and smarter mobility. Its global-local footprint ensures proximity to customers, while trusted relationships with both established and emerging OEMs reinforce its market position.
Yet, these strengths must be viewed against a backdrop of rapid change and growing complexity. Market dynamics in Asia-driven by the rise of Chinese OEMs-are reshaping competitive intensity. At the same time, global market growth remains modest, and rising trade barriers combined with regulatory divergence call for increasingly
regionalized strategies. Adding to this, Tier-1 competition continues to intensify, creating additional pressure on margins and innovation cycles.
In this context, FORVIA Group must act decisively to capture further growth opportunities and unlock future value. This imperative is at the heart of our strategic transformation roadmap: " IGNITE - Drive what matters, Unlock what's next".
IGNITE - Objectives & Strategic Priorities
IGNITE gives us a disciplined framework to build a future-ready FORVIA Group driven by performance, technology and growth. IGNITE combines near-term execution and financial strengthening with a clear pathway to sustainable growth and margin expansion from 2028.
The roadmap is structured around three strategic priorities that work in concert.
- The first priority, Business Transformation, aims to sharpen portfolio focus, reinforce leadership in selected areas and technologies to capture more value and fuel profitable long-term growth.
- The second priority, Best-in-class Performance, focuses on raising operational standards end-to-end, improving agility and strengthening cost competitiveness - while increasingly leveraging Artificial Intelligence ("AI") to accelerate efficiency and execution.
- Finally, the third priority is Invigorating Culture. The Group is evolving its organization to become simpler & faster. It is implementing a new operating model, based on regional divisions, which have closer proximity to customers. At the same time, it is also reinforcing its leadership culture, with strong focus on accountability, empowerment and collaboration, fostering a culture that accelerates responsiveness in a fast-changing environment.
These actions create the conditions for the next stage: unlock what's next.
Focus on Business Transformation
As part of FORVIA Group's Business Transformation aspiration, a comprehensive strategic review of its entire business and product portfolio was conducted across all Business groups. This analysis led to the definition of a new portfolio structure built around two complementary clusters: growth and value.
Growth cluster gathers the engines of future expansion and profitable long-term growth acceleration, supported by leadership positions and differentiated technologies. The objective is to accelerate profitable growth through disciplined investment and focus. Growth cluster is centered around Seating and Electronics activities.
Value cluster brings cash generation and strategic flexibility, reinforcing balance sheet strength and supporting the Group's long-term growth ambitions. It is managed with a clear focus on performance and value maximization. Value cluster includes Clean Mobility, Clarion, Lighting and Lifecycle Solutions product lines.
Following FORVIA's announcement on February 24th, 2026, Interiors is in a process of divestment, and so already not included in Value Cluster.
Together, Growth and Value form a more focused, agile and capital-efficient portfolio, aligned with FORVIA Group's long-term strategic priorities.
Zoom In - Growth Cluster
Growth cluster combines two complementary growth platforms addressing fast developing mega trends with strong technology leadership.
- Electronics tackles key trends such as software-defined vehicles, electrification, and in-cabin experience and will therefore support and capitalize on content-per-vehicle growth. FORVIA Group will build on its existing strong positions across its electronics portfolio. It will leverage its leading market position in Europe while benefiting from growing traction in Asia and North America.
- Seating, on the other hand, is positioned to meet rising demand for safety and comfort, while developing new user experiences that open additional avenues for growth. FORVIA Group will capitalize on its status as the undisputed world leader in mechanisms and structures, strengthen regional innovation capabilities, and deepen customer intimacy-including with fast-growing Chinese OEMs-while seizing opportunities in commercial, off-road, and other Asian markets.
  Focus on Best-in-class Performance
  FORVIA Group is engaged on a journey towards best-in-class performance across its businesses leveraging FORVIA Excellence System ("FES") as an asset to power performance and lift profitability. The group will activate four priority levers to scale performance:
  - Strengthen operating resilience thanks to a robust, competitive and flexible value chain supported by an elevated cybersecurity framework
  - Optimize the investment structure thanks to faster and more efficient Engineering & Programs as well as optimized Capital Expenditures
  - Reduce the cost base thanks to deployment of smart automation in plants and structural simplification with a leaner organization and End-to-End process optimization as pushed by Simplify Project
  - Scale competitive advantage with digital & AI thanks notably to the connection of production lines, the interfacing of 100% of core systems to create a seamless product lifecycle management.
    Focus on Invigorating Culture
    FORVIA Group is evolving its operating model for empowered and accountable teams.
    As part of this endeavor, it is deploying a new "division-centric" operating model giving to divisions speed of decision-making, empowerment on acquisitions and capex, clear Profit and Loss ("P&L") accountability, customer proximity and opportunity to adapt to specific regional market needs.
    This change is supported by three leadership principles: Guide teams, Empower people and Recognize team contribution. These will be the driving force behind this transformation.
    1
‌Innovation Ecosystem of FORVIA Group
FORVIA Group is building on strong innovation capabilities and networks to fulfill its mission: "Pioneering technology for mobility experiences that matter to people". This ambition is reflected in three major fields of innovation that differentiate FORVIA Group.
1. Broad Tech offer and leading position on data & power vehicle backbones (Deep Tech) Our portfolio ranges from smart sensing and edge computing to energy management with breakthrough innovations like ForwaveHD radar-a High-Resolution Radar enabling long range and robust object classification-and next-generation Interior Monitoring. It also leverages zonal modules as key nodes for onboard data and power distribution. These scalable platforms are among the most critical enablers of SDV, electrification and safe automation, including L2+/L3 safety cases.
2. Unique market position & technologies on Safe & Augmented User Experience ("UX") in the vehicle (UX Tech)
  FORVIA Group offers advanced in-car interaction solutions for safer driving & smarter comfort delivering
  end-to-end innovations from physical hardware to software functions. 3D Zen massage seat innovation examplifies how hardware solutions can answer end-user expectations on unmatched experience by integrating mechanical massage comfort into a seat while ensuring safety in case of crash, low noise and lifetime durability. The group is also at the forefront of connected vehicles and software transformation, with a unique role in the automotive digital ecosystem through its white-label app marketplace preserving data privacy and branding aligned with OEM policy. Our advanced hardware and software enable new levels of personalized in-car experience and digital services.
3. Early and deeply rooted engagement on sustainability & cost competitive products for decarbonization (Sustainable Tech)
Sustainable materials are at the core of FORVIA Group innovation with MATERI'ACT dedicated entity and specific solutions for Seating, Interiors and Lighting products. Our approach includes bio sourced, low CO₂
and recycled materials but also innovations focused on reducing vehicle weight and energy consumption. These efforts contribute directly to more sustainable mobility solutions.
In 2025, FORVIA Group innovations were recognized through eight innovation awards including several CLEPA Innovation Awards. Clarivate positioned FORVIA Group in the TOP 100 Innovators of it worldwide cross-industry ranking based on the effectiveness and the cross domain approach of its Intellectual Property. Ultimately, the most meaningful recognition comes from our customers
-through production launches and business awards for
FORVIA Group's latest technologies.
Behind these achievements stands a powerful innovation internal and external ecosystem. It begins with an internal global network of over three hundred experts in fields such as artificial intelligence, system architecture, product design, materials, simulation and manufacturing processes. They track the latest evolutions in their expertise domain, manage transversal knowledge sharing and coordinate relationships with industrial, start-up and academic partners.
FORVIA Group's open innovation ecosystem brings together its own scientific and technical experts with a wide range of external partners: universities, think-tanks, start-ups, technology or industrial specialists, and sector organizations. This international network strengthens our
expertise, accelerates the integration of cutting-edge technologies, and supports advances across technical and industrial domains. This ecosystem includes:
- Academic partnership such as CentraleSupelec, focusing on AI for sensor fusion in automotive applications
- Industry partnerships, such as Palantir for data analytics, Microsoft for Cloud Strategy
- Start-up scouting programs to identify disruptive concepts that will deliver unique differentiation once integrated into FORVIA Group products
- Membership in global automotive associations, such as SIA, VDA, CAIT (organizations for automotive industry in France, Germany, China) and CLEPA (organization for automotive suppliers)
- Active participation in strategic initiatives, including Board Membership of IHFCA (Chinese International Hydrogen and Fuel Cell) and membership of ECAVA (European Connected and Autonomous Vehicle Alliance), COVESA (Connected Vehicle Systems Alliance) and 2Zero association, a co-programmed Partnership funded under the Horizon Europe program and aiming at accelerating the transition towards zero tailpipe emission road mobility across Europe.

‌Organization of Group's Activities (1)
Seating
The Seating solutions of FORVIA Group are developed and manufactured for maximum safety and the highest level of onboard comfort, displaying a high degree of craftsmanship.
Seating Business Group is ranked first worldwide in seat structure systems and number three in seat assembly. With its technological lead in seating design and assembly, FORVIA Seating offers high-tech and everlasting, avant-garde products, with a quality-controlled service.
With almost 110 years of history and more than 40,000 employees, FORVIA Seating business group is a world leader in its industry and one of the six main business areas of the Group. Representing 31% of the Group's annual sales, totaling €8.2 billion in 2025, Seating offers car and truck manufacturers around the world a comprehensive range of services for the design and production of
components used in seats. Its business focuses on two strategic activities:
- The development and production of seat structures and mechanisms: FORVIA Seating is the world's number one manufacturer of these essential elements of on-board safety and comfort;
- The mastering of all métiers and technologies of automotive complete seats, from industrial design, system architecture, chemistry to electronics and software, with the production of all seat components, including wellness features, and their assembly just in time.
  
  73
  industrial sites
  14
  R&D tech centers
  €8.2bn
  sales in 2025
  (31% of the Group's sales)
  Operating income
  5.6%
  of sales
  #3 (2)
  in complete seats worldwide
  40,000+
  employees
  #1 (2)
  in seat structure systems worldwide
  1. Based on Group segment reporting.
  2. For sources, please refer to section 7.7.
  1
  Interiors
  As the world's number one supplier of vehicle interiors, FORVIA Interiors is a global leader with a proven track record of innovation.
  Interiors Business Group designs and delivers complete interior systems, including instrument panels, door panels, and center consoles. Beyond individual components, FORVIA Interiors ensures seamless, premium-quality integration by incorporating sustainable materials, smart functionalities, and digital technologies to enhance comfort, safety, and the overall user experience throughout the vehicle.
  With a strong global footprint and proximity to customers, FORVIA Interiors is a trusted partner to leading Western OEMs and the number one Western supplier to Chinese
  OEMs. This unique positioning enables the Business Group to support customers worldwide while responding quickly to local market expectations.
  FORVIA Interiors' ambition is to become the digital and sustainable leader in cockpit experiences, leveraging cutting-edge innovation. In line with this vision, the FORVIA Group launched MATERI'ACT in 2022 to develop and
  industrialize ultra-low-CO₂ materials for the automotive industry and beyond, reinforcing FORVIA Interiors' commitment to sustainability at scale.
  
  66
  industrial sites
  13
  R&D tech centers
  €4.8bn
  sales in 2025
  (18% of the Group's sales)
  Operating income
  2.3%
  of sales
  #1 (1)
  in car interiors worldwide
  31,000+
  employees
  1. For sources, please refer to section 7.7.
    Electronics
    FORVIA's Electronics Business Group combines FORVIA Faurecia and FORVIA HELLA portfolios to provide a comprehensive electronic offering for automotive applications.
    FORVIA Group offers an extensive electronics portfolio made of sensors and actuators, radar and automated driving solutions, lighting and body electronics, energy management solutions, and cockpit electronics solutions addressing hardware and software. FORVIA Electronics is holding strong positions in a selection of markets including components and radar and aims to cement and build upon it as electronic components per vehicle are steadily increasing.
    FORVIA Electronics is specifically leveraging its current position to address three key electronics trends driving automotive market growth:
    - Software-defined vehicle: FORVIA Electronics develops a one-stop product offering of zonal modules from hardware & software to proprietary chip. Zonal modules are a key element of future centralized Electric-Electronic
  architectures and hence a prerequisite for software defined vehicles. FORVIA Group has gained significant awards for lighthouse EE platforms of premium OEMs;
- Electrification: FORVIA Electronics provides different product solutions for electrification, including battery and power electronics as well as integrated modules in these fields. It also provides thermal management components and system solutions that increase the efficiency of the electric drive train;
- In-cabin user experiences: FORVIA Electronics enables next generation of in-cabin experiences with cockpit electronics solutions, Interior Monitoring Systems, display products, sensors & actuators for comfort features. The Group also offers best-in-class connectivity experience with customized solutions focused on Human Machine Interface and UX as FORVIA Appning, a white-label marketplace with more than two hundred applications.
  
  22
  industrial sites
  €4.6bn
  sales in 2025
  (18% of Group's sale) of which per cluster:
  - €3.1bn in Growth
  - €1.5bn in Value
  25
  R&D tech centers
  Operating income
  6.9%
  of sales
  
  Among
  market leaders in attractive
  market segments
  Radars, voltage converters, sensors, in-vehicle app
  18,500+
  employees
  1
  Clean Mobility
  FORVIA Clean Mobility enables the energy transition through the sustainable transformation of mobility across powertrain technologies.
  FORVIA Clean Mobility has two product lines:
  - Development and production of Ultra Low Emissions ("ULE") exhaust aftertreatment systems for thermal and hybrid vehicles, which play a critical role in reducing pollutant and acoustic emissions. These solutions remain essential to meet increasingly stringent emissions standards and to support transition powertrain architectures, including hybrids and range-extended electric vehicles, where the performance of exhaust aftertreatment systems is a key enabler. FORVIA Clean Mobility is number one in this market.
- Development and manufacturing of Hydrogen storage solutions for automotive applications, as well as for non-automotive applications, such as containerized solutions for stationary storage and energy distribution. FORVIA Clean Mobility's ambition is to be a key global player in the hydrogen storage systems where there are market needs, leveraging its industrial capabilities and expertise across the hydrogen value chain.
  
  67
  industrial sites
  €4.0bn
  sales in 2025
  (15% of the Group's sales)
  #1 (1)
  in ULE worldwide
  10
  R&D tech centers
  Operating income
  9.2%
  of sales
  15,500+
  employees
  (1) For sources, please refer to section 7.7.
  Lighting
  As a technological leader in high-tech lighting solutions, FORVIA HELLA's offering covers all aspects of vehicle lighting, from headlamps and rear lamps to signal and interior lighting.
  FORVIA Lighting is assigned to FORVIA HELLA and is at the core of both vehicle signature and safety. Today, FORVIA Group is a technological leader in high-tech lighting solutions and among global Top-4 for the year 2025. The portfolio of the Lighting Business Group comprises four product lines: headlamps, rear combination lamps, car body lighting (including radomes, illuminated logos and Front Phygital Shields) and interior lighting. The Business Group Lighting provides both the premium and the volume segment; in particular, it has built up a strong market position in the context of sophisticated lighting technologies thanks to many years of cooperation with almost all renowned original equipment manufacturers worldwide.
  FORVIA Lighting is targeting two main strategic pillars moving forward:
- Rebalancing the mix for profitable growth through strong order book based on a future-oriented, technology-focused product portfolio, with growth potential especially in the Asian and American markets
- Transforming the business model by pushing for standardization to reduce the complexity and diversity of products, processes and equipments.
  
  25
  industrial sites
  11
  R&D tech centers
  €3.6bn
  sales in 2025
  (14% of the Group's sales)
  Operating income
  2.9%
  of sales
  Top 4 (1)
  global lighting automotive supplier
  20,500+
  employees
  1. For sources, please refer to section 7.7.
    1
    Lifecycle Solutions
    FORVIA HELLA offers a comprehensive range of spare parts, wear parts and accessories as well as workshop equipment with diagnostics, testing and adjusting tools and exhaust-emission measurement.
    Lifecycle Solutions Business Group is one of the most important partners for spare parts trade and independent workshops, and are also serving a wide range of Special Original Equipment customers such as trucks, buses, agricultural vehicles, construction machinery and more. FORVIA Lifecycle Solutions is driving performance through the extension of its product portfolio (especially in electrification, electronics and mechanical parts like brakes), internationalization (mainly outside of Europe), and differentiated positioning on workshop diagnostics with HELLA Gutmann.
    FORVIA Lifecycle Solutions has three divisions:
    - In the Independent Aftermarket, FORVIA HELLA is a leading partner of the spare parts business and
  independent workshops in Europe (among top players in Europe, with a global network);
- The range of Workshop Equipment is provided for vehicle workshops, vehicle dealerships and vehicle inspection organizations. The Group focuses on vehicle diagnostics, emission testing, lighting adjustment, calibration, system testing and the corresponding measurement technology;
- The Special Original Equipment activity is among the leading players in Europe. Here, the Group develops, produces and distributes lighting and electronics products for special vehicles such as construction and agricultural machinery, buses, coaches as well as mobile homes and for the marine sector.
  
  5
  industrial sites
  €1.0bn
  sales in 2025
  (4% of the Group's sales)
  Top player
  among suppliers in Europe
  8
  R&D tech centers
  Operating income
  9,7%
  of sales
  4,500+
  employees

‌2025 Group Financial Performance

Unless stated otherwise, financial figures are shown before IFRS5.

Worldwide automotive production

(in unit m)

Sales

(in M€)

24.3

24.7

21.4

22.2

21.5

22.3

22.9

23.1

89.4 M

vehicles

92.9 M

vehicles

Q1 Q2

Q1 Q2 Q3

2024 2025

26,974.2

26,153.9

-0.1% (1)

2024 2025

Sales by business group

(in %)

Lifecycle Solutions

Sales by region

(in %)

14%

Lighting

31%

Seat

bility

ing

26%

sia

26%

Clean Mo

48%

EMEA

18%

Electronics

18%

Interiors

Americas

Sales by customer

(in %)

19%		5%
11%		4%
9%		4%
7%		3%
6%		2%
5%		1%
5%
5%

Volkswagen

Global vehicle company

Stellantis

Nissan-Mitsubishi

Ford

Mercedes-Benz

Other Japanese OEMs

General Motors

Hyundai-Kia

Commercial Vehicles

Other Chinese OEMs 13% ■ Others

Renault

At constant currencies and scope.
2025 Group Financial Performance
Operating income(2)
(in €m and as a % of /ales)
EBITDA adjusted
1
(in €m and as a % of /ales)
1,400.0
1,456.5
3,354.6
3,513.2
5.2%
12.4%
13.4%

5.6%

2024 2025 2024 2025
Net Cash Flow
(in €m and as a % of /ales)
962.0
Net income/(loss) attributable to equity holders(3)
(in €m and as a % of /ales)
-9.8%

-0.7%

654.9
2.4%

- 185.2
3.7%

-2,091.1
2024 2025 2024 2025
Net income Group share (in €m)
Net debt
(in €m)
6,622.6
6,010.0
-185.2
-1,538.2
2024 2025 2024 2025
Before amortization of acquired intangible assets (§2.1 to the consolidated financial statements).
After application of IFRS5

‌2025 Group Sustainability Performance

Governance

Sustainability integrated into corporate governance

People

OUR 2024 KEY INDICATORS

Contribute to society

DIVERSITY

28.4% of the top 300 leaders are women(1)

30% of managers and skilled professionals are women

LEARNING ORGANIZATION

25.3 hours of training per employee

83%

independent Board members

Board members, including 2 employee representatives and 5 women (42%)

"Governance,

Nominations

& Sustainability" Board Committee

Steering Committee on Sustainability with the Group Executive Vice Presidents in 2025

ESG criteria linked to short & long term top leaders remuneration (Diversity & CO2 intensity) and CO2 intensity also linked to all FORVIA Managers & professionals short term

Business

Responsible performance

Planet

Care for the planet

BUSINESS ETHICS

97.7% of targeted employees trained in the Code of Ethics

RESPONSIBLE SUPPLY CHAIN

87% of total direct purchasing volume assessed for CSR performance by Ecovadis(2) Targeted minimum EcoVadis score of the panel suppliers: 50/100

SAFETY AT WORK

1.5 accidents with & without stoppage per million hours worked (FR1t indicator)

CO2 EMISSIONS

0.11 mega tons of CO2 eq (scopes 1 & 2)

36.9 mega tons of CO2 eq (full scope 3 including use phase)

CO2 INTENSITY

4 tons of CO2 eq scopes 1 & 2

/ € million sales

ENERGY INTENSITY

85 MWh scopes 1 & 2 /€ million sales

WASTE INTENSITY

9 tons waste / € million sales

WATER INTENSITY

94 m3/ € million sales

FORVIA Group excluding the HELLA scope.
Scope of FORVIA Group representing around 3,500 direct suppliers.

2025 Group Sustainability Performance

By 2025 By 2027 By 2030 By 2045

OUR SUSTAINABILITY ROADMAP

Business ethics

100% of targeted employees trained in the Code of Ethics

Responsible supply chain

95% of total direct purchasing volume assessed for CSR performance

by EcoVadis

50/100 Average EcoVadis score of direct suppliers assessed for CSR performance

(Top 2,000 suppliers)

Diversity

30% women among managers and skilled professionals

Safety at work

1.5 accidents with & without stoppage per million hours

worked (FR1t indicator)

Diversity

30% women among the top 300 leaders

35% women among managers and skilled professionals

Learning organization

25 hours of training

per employee per year

CO2

neutral

in operations scopes 1 & 2

-28%

in waste intensity

-10%

in water intensity

-34%

in waste intensity

-45% in CO2 emissions scopes 1, 2, 3

-30%

in water intensity

CO2

net zero

‌2

Methodology 26
1. Risk Factors Identification 26
2. Risk Assessment and Prioritization 26
3. Risk Mitigation 26
4. Risk Monitoring and Reporting 26

Contributors and Enterprise Risk Management program 41
1. General governance 41
2. Operational departments 41
3. Functional departments 41
4. External actors 45

2.2 Description of Main Risk Factors and their Management	27	2.4	Insurance and risk coverage	46
2.2.1 Operational and industrial risk	28	2.4.1	Fire, damage and business interruption
2.2.2 Financial risk	34		insurance	46
2.2.3 Legal and ESG risk	37	2.4.2	Civil liability insurance	47
		2.4.3	Environmental Liability	47
		2.4.4	Directors and Officers (D&O) liability insurance	47
		2.4.5	HELLA's insurance	47

24 2025 UNIVERSAL REGISTRATION DOCUMENT

Risk factors and Risk management

2025 UNIVERSAL REGISTRATION DOCUMENT 25

‌This chapter presents the main risk factors and their associated stakeholders within the FORVIA Enterprise Risk Management (ERM) program. These risk factors have been identified as of the date of this Universal Registration Document, with certain information specific to the 2025 financial year. Other risks that the FORVIA Group is not currently aware of or does not consider material as of the date of this Universal Registration Document, could also affect its activities.

Methodology
The FORVIA Group operates in an environment that is constantly changing. As a result, the Group is exposed to risk factors, which could result in events whose probability of occurrence and severity could affect the achievement of its short-, medium- or long-term objectives.
‌The Group conducts an annual risk assessment based on recognized best practices such as the COSO (Committee Of Sponsoring Organizations of the Treadway Commission) and ISO 31000 standard. This process includes structured risk identification, assessment, prioritization, mitigation, and monitoring.
1. Risk Factors Identification
  ‌Risks factors are identified through the conduct of surveys and interviews with the main stakeholders at all levels of the Group, activities and regions. Both known risks and emerging risks are considered.
2. Risk Assessment and Prioritization
  The criticality of each identified risks factor is assessed through the product of the following two parameters:
  - the probability of occurrence, which is characterized by potential frequency;
  - the net impact (severity), which is characterized by potential effect of the risk on the FORVIA Group.
  The assessment reflects residual (or net) risk, taking into account the main existing control measures implemented to reduce the risk. Each identified risk's criticality is then categorized as "high", "medium", or "low".
  ‌The result of the risk assessment is documented in the FORVIA Group's risk mapping. This risk mapping is updated quarterly and submitted annually for approval to the FORVIA Audit Committee as defined in Section 2.3.1. The list of the risk factors identified and assessed in FORVIA's 2025 risk mapping has been provided in the table in Section 2.2.
3. Risk Mitigation
  ‌For each risk identified as "high" or "medium", mitigation plans are defined and implemented through appropriate actions. Risk Champions are accountable for executing mitigation plans and regularly reporting progress. These actions are periodically monitored to ensure their effectiveness and alignment with company's priorities.
4. Risk Monitoring and Reporting
  Finally, reporting and quarterly monitoring are carried out using Key Risk Indicators (KRI) for each risk. These indicators track the level of threat faced by the FORVIA Group, including their danger zone (also known as risk appetite), as well as main control measures and associated risk mitigation plans.
  RISK FACTORS AND RISK MANAGEMENT
  Description of Main Risk Factors and their Management

‌Description of Main Risk Factors and their Management

Information Systems & cyber risk	Cybersecurity and reliability of information systems, ●●● data and embedded products		●●●	●●●	2.2.1.1.
	Supply disruptions and supplier failure ●●●		●●●	●●●	2.2.1.2.
Operational risk	Program management & new product launches ●●○		●●●	●●●	2.2.1.3.
	Product quality and safety ●●○		●●●	●●●	2.2.1.4.
Competitiveness	Geopolitical tensions and regulatory developments ●●●		●●○	●●●	2.2.1.5.
& customer risk	Risk associated with the automotive supplier business ●●○		●●○	●●○	2.2.1.6.
Human capital risk	Risk related to talent acquisition and retention ●○○		●●○		N/A
Global security	Safety at work ●○○		●●○		N/A
risk	Loss of assets due to fire or natural hazards ●●○		●○○		N/A
Financial risk					2.2.2.
	Financial robustness	●●○	●●○	●●○	2.2.2.1.
Financial risk	Financial market risk	●●○	●●○	●●○	2.2.2.2.
	Customer credit risk	●○○	●●○		N/A
Legal & ESG risk					2.2.3.
	Business ethics	●●○	●●○	●●○	2.2.3.1.
Legal & compliance risk	Significant litigation	●●○	●●○	●●○	2.2.3.1.
	Intellectual property	●●○	●●○	●●○	2.2.3.2.
	Climate change	●●○	●●○	●●○	2.2.3.3.
ESG risk	Environmental impact of sites	●●○	●○○		N/A
	Responsible value chain	●●○	●○○		N/A