Business
Nexteq : sustainable business report 2025
Nexteq : sustainable business report
About this update from Nexteq Plc
Sustainable business report Sustainable business report for the year end 31 December 2025. Contents Introduction 4 Our year at a glance 5 A message from our 6 Group CEO 6 A Message from our Global ESG Coordinator 6 Sustainable development goals 8 Quality education 10 Apprentice HR & Office Support Administrator 10 Apprentice Helpdesk Analyst 10 Climate impact and commitment to Net Zero 11 Global Baseline Emissions Footprint 11 Current global emissions 11 Emissions reduction targets 11 Climate action 11 UK SECR reporting 12 Future Environmental ambition 13 Carbon offset 13 Blue carbon removal 13 Community-based carbon avoidance 13 Nature-based carbon avoidance 13 Why these solutions matter 14 Carbon reduction projects 14 Operating responsibly 15 Supply chain integrity 17 Supply chain risks 17 Levels of influence 17 Minerals in the supply chain 18 Monitoring compliance 18 Our practices 19 Modern slavery 19 Our payment practices 19 Health and Safety 19 H&S Performance 19 Anti-Bribery and Corruption 19 Privacy and information security 20 Privacy 20 Information Security 20 Our people 22 Employee retention 22 Diversity, Equity Inclusion and Belonging (DEIB) 22 Why DEI Matters to Our Sustainability Strategy 22 Listening to our People 22 What We Learned 23 Pulse Survey - June 2025 Key results summary 23 Employee Wellbeing 24 Our local community and charitable activities 25 4 | Introduction Introduction Nexteq plc is a B2B technology company specialising in enabling customers in selected industrial markets to outsource the design, development, and supply of non-core aspects of their product offerings. As a collaborative technology partner, we empower our customers to achieve their goals. Our strategy is customer-centric, driven by passionate teams that combine technical expertise with deep sector-specific knowledge to innovate, craft, and manage solutions that power our customers' businesses. The foundation of Nexteq's technology lies in its breadth and strength. Our engineering capabilities span a wide range of disciplines, including hardware and software design, display technology, industrial design, and mechanical engineering. This diverse expertise allows us to engineer innovative turnkey solutions tailored to our customers' needs. Our value proposition extends beyond the quality of our products and the creativity of our global engineering teams. Our Far Eastern sourcing, manufacturing, and logistics operations, including a thriving hub in Taiwan, provide us with local access to the Far Eastern electronics market and insights into its complex supply chain dynamics. This enables us to shield our customers from component availability volatility. As our business grows, we continuously enhance our approach to Environmental, Social, and Governance (ESG) aspects, and our overall sustainable business journey. Together with our partners and customers, we are dedicated to delivering our products sustainably. We understand the importance of transparency in our efforts to build a brighter future collectively. Sustainability is a journey, and we are committed to strengthening our business practices every step of the way. We hope our report provides insight into the many ways Nexteq empowers our people, protects the environment, acts with integrity, and supports our communities. Introduction | 5 Our year at a glance Governance 2025 = £0 regulatory fines 2024 = £0 regulatory fines 2023 = £0 regulatory fines Health and safety 0 Fatalities 0 RIDDOR reports Carbon intensity per employee - (kg)CO2e 2025 = 553 2024 = 671 2023 = 651 Climate action 2025 = 484,332 (KG)CO2e 2024 = 787,859 (KG)CO2e 2023 = 154,851(KG)CO2e 6 | Introduction A message from our Group CEO Duncan Faithfull, Group Chief Executive Officer At Nexteq, our approach to sustainability and ESG is grounded in responsibility, accountability and long-term value creation. As a global business, we recognise the role we play in addressing climate change, supporting our people and communities, and operating with integrity across everything we do. These commitments are not separate from our commercial strategy; they are fundamental to how we run and grow our business. Over the past year, we have continued to strengthen our ESG foundations. We have improved the way we measure and understand our environmental impact, allowing us to set clearer priorities and take more informed action to reduce emissions across our operations and supply chain. Alongside this, we have deepened our focus on responsible sourcing, ethical governance and creating a workplace where diversity, inclusion and wellbeing are actively supported. Progress in ESG is rarely achieved in isolation. Collaboration remains central to our approach, whether through partnerships, engagement with our customers and suppliers, or the involvement of our employees across the organisation. These collective efforts help ensure that our actions are practical, measurable and aligned with recognised frameworks, including the UN Sustainable Development Goals. The Board is clear that ESG is not a one-off initiative or a compliance exercise. It requires sustained leadership, transparent reporting and continuous improvement. To support this, ESG objectives are embedded within our business priorities, and clear ownership and governance structures are in place to drive progress and accountability. Importantly, we view ESG as a way of thinking rather than a checklist. It challenges us to make better decisions, balance short- and long-term considerations, and define success not only by financial performance, but by the positive impact we have on people and the environment. I am proud of the progress we have made, but equally conscious of the work still ahead. Sustainability is a journey, and expectations will continue to evolve. At Nexteq, we are committed to learning, adapting and improving - ensuring that we build a resilient, responsible business that creates lasting value for all our stakeholders. A Message from our Global ESG Coordinator Nikki Dow, Global ESG Coordinator Nexteq is a business that puts real weight behind doing the right thing - for our customers, our people, the communities we operate in, and the world around us. We hold ourselves to high standards in how we deliver, how we behave, and how we improve. That mindset - of responsibility paired with innovation - helps us create value that lasts, not just for today but for the future. Sustainability is part of that. It shows up in the way we work to reduce our environmental footprint, support and invest in our communities, and make ethical decisions across every part of the business. We don't see this as a side project. It's embedded in how we think about growth, resilience, and long-term success. I'm proud to be coordinating Nexteq's Sustainable Business journey. Working alongside our global experts and with strong support from our executive team, we've continued to strengthen our reporting framework and bring our progress to life through the stories in this report. It's a shared effort, and one that reflects the commitment of teams across the organisation. Our approach is deliberately holistic. We look at environmental, social and governance (ESG) priorities together, because they're connected - and because that's how real progress happens. By aligning to international standards and listening closely to our stakeholders, we're building transparency, momentum, and meaningful change year on year. 7 | Our strategic pillars Our culture is characterised by five pillars. These are the values that have helped us achieve our decades of success. Innovation We believe that success comes through innovation. We champion creative thinking within our group, and actively seek new viewpoints. Collaboration We work together with our customers to fully support them and understand their needs. Together with our colleagues and partners, we are always friendly, honest and supportive. Expertise We value knowledge and take pride in our professionalism. We invest in skills and state-of-the-art thinking so our customers can depend on our expertise. Determination We do not cut corners, even while we strive for efficiency. We enjoy hard work and have an absolute commitment and determination to see a task to completion. Responsibility We believe in being held accountable for our actions. We are open and honest about how we do business and are always accessible to our shareholders, employees and customers. 8 | Sustainable development goals Sustainable development goals The 17 Sustainable Development Goals (SDGs), adopted by the United Nations in 2015, aim to create a better and more sustainable future for all. Our business has aligned with five of these SDGs, which have been identified as material to our operations. Sustainable transformation Operating responsibly Quality Education (SDG 4): Ensuring inclusive and equitable quality education and promoting lifelong learning opportunities for all. Responsible Consumption and Production (SDG 12): Ensuring sustainable consumption and production patterns. Climate Action (SDG 13): Taking urgent action to combat climate change and its impacts. Decent Work and Economic Growth (SDG 8): Promoting sustained, inclusive, and sustainable economic growth, full and productive employment, and decent work for all. Peace, Justice, and Strong Institutions (SDG 16): Promoting peaceful and inclusive societies for sustainable development, providing access to justice for all, and building effective, accountable, and inclusive institutions at all levels. Striving for a positive impact on the SDGs is a commendable approach. By focusing on key aspects of our business operations that align with these globally recognised initiatives, we can effectively contribute to meaningful change. While it is not feasible to address all SDG targets, prioritising those within our sphere of influence is a strategic and impactful way to make a difference. Sustainable development goals | 9 Strategy in context Our products play a central role in the daily lives of our customers. We are dedicated to embedding our sustainable business strategy throughout our entire organisation and are committed to fostering positive relationships with all our stakeholders. We believe that everyone has a role to play in contributing to the communities in which we operate, and we strive to deliver positive impacts in key areas both internally and externally. We are committed to operating responsibly and ethically, and we maintain transparency about our progress towards our stated goals. To further our commitment, we have aligned with the Responsible Business Alliance (RBA) code of conduct. This set of standards ensures safe, respectful, ethical, and environmentally responsible working conditions within the electronics industry and its supply chains. 10 | Quality education Quality education Apprenticeships Abbie Haycock Apprentice HR & Office Support Administrator I am excited to be starting my upcoming Level 3 HR apprenticeship and look forward to building on my knowledge. I am particularly motivated to develop my understanding of HR skills and apply this learning in a practical setting. Abbie Haycock, HR & Office Support Administrator Rhys Suckling Apprentice Helpdesk Analyst Our apprenticeship programme continues to play a key role in how we nurture talent and create meaningful opportunities across Nexteq. Rhys Suckling remains an active participant and is progressing strongly, building hands-on experience while developing valuable skills for the future. We're also delighted to share that Abbie Haycock, currently working with us as HR & Office Support Administrator, will be starting an HR Support Apprenticeship (Level 3) in early 2026. Abbie's next step is an exciting continuation of her development journey and a great example of how we invest in our people, supporting long-term career growth within the business. Climate action Climate action | 11 Climate impact and commitment to Net Zero There is compelling evidence that anthropogenic greenhouse gases (GHGs) are directly impacting the climate. Data indicates that global temperatures are rising rapidly, with some of the most recent years being the hottest on record. The production of electronic devices demands a substantial amount of electricity, and each additional connected device potentially increases energy consumption. Recognizing this, we understand that every organization can undertake activities to mitigate the adverse effects of climate change. At Nexteq, we have identified key areas to focus our efforts on reducing GHG emissions. Nexteq is committed to achieving Net Zero emissions by 2050. Global Baseline Emissions Footprint The baseline emissions represent the historical record of GHGs produced before implementing any emission reduction strategies. This baseline serves as the reference point against which we measure our progress towards Net Zero. For our global baseline, we have selected the period from January 1, 2022, to December 31, 2022. Baseline Year: 1/01/2022 - 31/12/2022 Emissions Total (kg)CO2e Scope 1 14,276 Scope 2 (location based) 102,967 Scope 3 - Business Travel 17,090 Total emissions 134,333 Note: Scope 1 and 2: Recording of emissions for scope 1 and 2 are only available for the UK prior to our baseline year. Current global emissions Our carbon emissions equate to a carbon intensity of 553 (kg)CO2e based on 212 employees globally. Reporting Year: 1/01/2025 - 31/12/2025 Emissions Total (kg)CO2e Scope 1 5,080 Scope 2 (location based) 95,517 Scope 3 - Business Travel - flights 332,260 Scope 3 - Business Travel - fuel for transport 16,543 Scope 3 - Accommodation 24,537 Scope 3 - Home working & Commuting 10,395 Total emissions 484,332 Emissions reduction targets To progress towards Net Zero, we have set carbon reduction targets for the five year period to 2030. During this time, targets will be set for the remaining period to ensure Net Zero will be achieved by our target date. We are aiming to reduce our absolute carbon emissions by at least 90% from our baseline year or achieve (and maintain) a carbon intensity metric of <500 (kg) CO2e per employee, whichever comes soonest. This is in line with science-based Net Zero targets. To keep ourselves on track with these long-term targets, we have the following goals: Reduce our Scope 1 & 2 emissions by 50% from our baseline year by 2032. Reduce our Scope 3 emissions by 30% from our baseline year by 2026. Reduce our Scope 3 emissions by 50% from our baseline year by 2032. 12 | Climate action UK SECR reporting In accordance with the Streamlined Energy and Carbon Reduction (SECR) regulation we report energy use in kWh and Kg CO2e for the group. 2024 2025 Change UK Rest of World Group Total UK Rest of World Group Total UK Rest of World Group Total Energy use (kwh) Electricity 91,164 480,394 571,558 93,098 453,059 546,157 -2% 6% 4% Fuel oil for heating 31,927 - 31,927 20,598 - 20,598 35% 0% 35% Fuel for transport 65,685 18,667 84,352 48,951 16,988 65,939 25% 9% 22% Total energy use 188,776 499,061 687,837 162,647 470,047 632,694 14% 6% 8% GHG emissions (kg CO2e) Electricity 18,875 99,466 118,341 16,282 79,235 95,517 14% 20% 19% Fuel oil for heating 9,842 - 9,842 5,080 - 5,080 48% 0% 48% Fuel for transport 16,526 4,339 20,865 12,581 3,962 16,543 24% 9% 21% Total gross CO2e emissions 45,243 103,805 149,048 33,943 83,197 117,140 25% 20% 21% Intensity ratio Average number of employees 70 152 222 59 153 212 -16% -1% -5% Total GHG emission per employee (kg CO2e / employee) 646 683 671 575 544 553 11% 20% 18% The methodology used to produce emissions reporting is the GHG Reporting Protocol (Corporate Standard). The primary change from last year is a 29% reduction in air travel emission factors, which has lowered the reported flight emissions for 2025. As anticipated in last year's report, the Balsham office was decommissioned at the end of March 2025, resulting in lower Scope 1 and 2 emissions. The Balsham office used oil to heat parts of the building. Since relocating to Crawley at the end of March 2025, fuel usage has dropped significantly and is expected to fall to zero next year once the property is sold. Alongside lower underlying flight emission factors, we saw a reduction in total flight activity and a continued shift away from long-haul and business travel. We continue to explore opportunities to minimise emissions and enhance operational efficiency as part of our broader global sustainability strategy. Climate action | 13 Future Environmental ambition As part of our environmental journey, we are broadening our range of environmental reporting to encompass additional sections of Scope 3 which enables us to monitor and improve indirect greenhouse gas emissions that occur across our value chain. Flight emissions Location 2023 CO2e (kg) 2024 CO2e (kg) 2025 CO2e (kg) Change UK 211,350 321,727 181,053 -44% Rest of World 163,520 268,268 151,207 -44% TOTAL 374,870 589,995 332,260 -44% Carbon offset At its simplest, a carbon offset refers to balancing out the associated carbon of our organisation by funding an equivalent reduction of carbon emissions elsewhere. We have chosen to use the Gold Standard as this is one of the most widely respected carbon standards available. Established in 2003 by the WWF and other international NGOs to ensure that projects that reduce carbon emission meet the highest levels of environmental integrity and contribute to sustainable development. Nexteq have fully offset all our carbon again this year supporting blue carbon removal, nature based carbon & community based carbon avoidance. Blue carbon removal Blue carbon refers to capturing and storing CO₂ in coastal ecosystems like mangroves, seagrasses, and salt marshes, which act as natural carbon sinks. Protecting and restoring these ecosystems helps mitigate climate change while offering additional benefits, including: Habitat protection for marine life. Coastal defense against erosion and storms. Fisheries support, sustaining food security and livelihoods. Water quality improvement by filtering pollutants. Community-based carbon avoidance This involves projects that reduce carbon emissions while improving lives, particularly in developing regions. Examples include: Energy-efficient cookstoves that cut fuel use, lower costs, and improve indoor air quality. Clean water solutions like filtration systems that reduce reliance on wood-burning for boiling water. Sustainable farming methods that lower emissions and enhance soil health. Nature-based carbon avoidance Protecting natural habitats prevents CO₂ release from forests, wetlands, and grasslands. Key approaches include: Forest conservation to prevent deforestation. Wetland preservation to maintain high-carbon storage ecosystems. Sustainable land management to balance conservation with economic needs. 14 | Climate action Why these solutions matter These methods help reduce CO₂, protect biodiversity, and support communities, making them essential for climate resilience and sustainable development. Carbon reduction projects The following environmental and cultural measures have been implemented, are in progress or being considered for implementation since the global baseline calculations: Activity Completion Scope Commit to measuring carbon footprint aligned to SECR for required business activities to identify areas of risk and improvement to reduce these emissions. UK 2019 Global 2022 1,2,3 Create a global team to lead initiatives made up of representatives from different locations and departments to support the role out of initiatives and management of data, this includes sharing and collaborating throughout our organisation. 2023 1,2,3 Alignment to relevant Sustainable Development Goals. 2023 1,2,3 Implement Supplier Code of Conduct. 2022 3 Provision of electric car charging points at all UK offices. 2023 3 We/Landlord to implement low-cost options such as reducing boiler temperatures, adding solar control reflective window sheets, sensor lighting. In progress 2 Implement behavioural change initiatives within the workplace for reduction of emissions including clear messaging for turning off lights, monitors, computers, and other electrical appliances. In progress 2 We/landlord to procure 100% renewable electricity tariff to reduce market-based emissions. In progress 2 Develop and implement a sustainable travel policy to support environmental impact of choices when travelling, staying in hotels, and commuting utilising the emissions travel hierarchy: Digital communication, Walking and Wellbeing, Cycling, Public and shared transport, Public and shared EVs and car sharing, Air Travel. In progress 3 We have achieved 100% green tariff electricity in our UK offices and installed multiple electric car charges for use by employees and visitors. Operating responsibly Operating responsibly | 15 Supply chain integrity We work with our supply chain to ensure integrity by managing various legal,social, ethical and environmental risks. We encourage those who work directly with us to adopt sustainable business practices and sign up to our supplier code of conduct. We are committed to ensuring our business operates ethically, lawfully and with integrity and believe doing so is critical to our long-term success. Health and safety Ensuring the people that work for us are healthy and safe is one of our most important priorities. We promote our approach by adhering to regulations in all our areas of operation. This area of our report contains sections relating to key risks we face and details the controls in place to ensure our operating procedures meet regulatory requirements, our customer contractual arrangements and our stakeholder expectations. Anti-bribery and corruption We do not tolerate any form of bribery or corruption. We maintain and train our policy throughout Nexteq and onwards to our suppliers and contractors. Privacy and information security Our strict governance and compliance controls aid in the protection of our customers, employees and stakeholder data. We respect privacy and pro-actively manage security risks to ensure we remain within the regulatory frameworks appropriate to our locations of operation. 16 | Supply chain integrity Supply chain integrity Supply chain integrity | 17 We work with more than 290 direct suppliers that assist us in meeting our business and customer needs. We rely on complex and multilayer supply chains with our direct suppliers often having multiple suppliers of their own, who in turn rely on multiple suppliers. We manage the integrity of our supply chain by analysing and acting upon various legal, social, ethical, and environmental risks and encourage our direct suppliers to adopt sustainable business practices and work to our Supplier Code of Conduct, which is developed around the principles in the Responsible Business Alliance Code of Conduct. Safety in our supply chain is critically important; our comprehensive measures are in place and designed to make sure that everyone who works for us does so in a safe and lawful way. We reinforce this culture across our supply chains through close working relationships and contractual arrangements to meet the standards that Nexteq require. We believe that engaging directly with suppliers through regular review and monitoring is one of the most effective ways of improving performance in our supply chain and work, where evidence of non-conformance is identified, with improvement plans to strengthen our interaction and working practices together. Supply chain risks Some of the highest-level risks along the supply chain the electronics industry include injury to people working operationally in the field, forced labour, disposal of harmful substances, corruption and human rights abuse in the mining of metals and minerals. Our Supplier Code of Conduct and period supplier reviews seek to challenge our direct suppliers to demonstrate their adherence to our mandatory ethical, workforce and environmental standards. We expect all suppliers to adhere to our supplier code of conduct and uphold lawful business practices. Our suppliers are responsible for managing risks within their organisations and understand that we expect them to hold their suppliers accountable to the same, high standards. They are also responsible for maintaining their upstream suppliers to the same standards. When selecting suppliers or continuing to work with existing suppliers we assess their compliance to our Supplier Code of Conduct, achievement of environmental and social activities and successful management of health and safety in the same way that we assess commercial factors such as cost, quality, and achievement of service level agreements. Each supplier is analysed, and risk assessed. Levels of influence We manage the provision of new suppliers to support the needs of our business and complete regular supplier reviews. A supplier cannot be engaged without appropriate due diligence being completed prior to entering contractual arrangements. For all component suppliers these audits are completed by expert supplier management and procurement personnel in our Taiwan office. We have relationships with international, national, and local suppliers. Our support for local businesses has a positive impact on communities local to our offices through providing employment near to our operating locations. Monitoring our supplier's compliance against our code of conduct is a complex activity and can be challenging because of the multiple suppliers and their suppliers within our supply chain. The level of influence we have over businesses in our supply chain can vary significantly and we concentrate on the management of our direct suppliers where impact would be felt most by our customers and our business. Minerals in the supply chain Whilst Nexteq does not purchase raw materials such as minerals or ores, all electronic products have numerous components that may contain one or more of the 3TG metals. These 3TG metals are referred to as 'conflict minerals' regardless of their country of origin and whether its extraction has helped finance illegal organisations. The 3TG metals (tin, tantalum, tungsten and gold) can be used as follows. Tin for soldering metal and electronic components, Gold and Tantalum are used in components such as connectors or capacitors, Cobalt is used within lithium-ion batteries. The smelters, refiners and miners are many supply chain tiers away from Nexteq and we have little, if no, influence on the provision of these minerals. However, we work closely with our suppliers to identify components and products likely to contain these minerals. It is important to Nexteq that our suppliers understand and influence the provision of such metals through reviewing their standards and onward ethical process adherence Monitoring compliance We expect our suppliers to monitor their compliance to our code of conduct and address any failures immediately. Our approach to monitoring is determined by the nature of the risks and the supplier activities involved, in general, our suppliers are expected to confirm compliance to our code of conduct and be open to regular audit by Nexteq. 18 | Supply chain integrity Our practices Modern slavery As a responsible and ethical business, Nexteq has a zero tolerance approach to all types of activities that pertain to slavery and human trafficking within our business and supply chain. We are committed to ensuring that there is not modern slavery or human trafficking in our supply chain and if we become aware of any such practise, we act immediately and decisively to highlight and remedy the issue. Our anti-slavery position reflects our commitment to acting ethically and with integrity in all our business relationships and this is supported by our policies on bribery and corruption, and whistleblowing. Our payment practices Nexteq payment terms consider the size of the supplier, the contractual arrangements and the nature of the service or product provided. We have suppliers ranging from small and medium-sized enterprises to global organisations. In general, payment terms are 90 days from receipt of invoice. Health and Safety Nexteq has an excellent record in our approach to health and safety (H&S) and takes appropriate steps to keep our employees safe. We are committed to managing H&S effectively to protect our employees and other persons with whom we interact, because we recognise that we have not only a moral and legal duty, but also that our employees are our greatest asset. Our commitment to H&S does not differentiate between our employees, contractors, or suppliers and their onwards contractors. We want everyone to work in a safe and healthy way, every day. A fully inclusive and consultative approach to H&S is embedded across our organisation. All employees can input to and discuss safety concerns and decisions. Our practices | 19 H&S Performance Continual monitoring of our safety performance is essential to ensure the safety of everyone working with us and for us. It also helps us focus on and address any risks that are identified. Accident and near-miss data is collected centrally, and all accidents and near-misses must be investigated, mitigated, and reported. We continued to maintain our low accident rate throughout 2025. Zero RIDDOR Reports Zero Fatalities Zero lost time incidents Anti-Bribery and Corruption Bribery and corruption are, unfortunately, a feature of corporate and public life in many countries across the world. It is widely accepted that corruption inhibits economic growth, damages businesses both financially and reputationally and may result in criminal or civil liabilities and penalties for organisations and individuals. Nexteq does not tolerate any form of bribery and corruption and is committed to operating responsibly and engaging with stakeholders to manage the social, environmental, and ethical impact of its activities in the various markets in which it operates. We have a clear gifts and entertainment policy which all employees are bound by. 20 | Privacy and information security Privacy and information security Privacy Nexteq considers privacy and information security aspects as a top priority for customer confidence, legal and regulatory compliance, and the protection of the Nexteq brand. Our commitment to privacy and information security is a vital part of our responsibility to customers and is central to our privacy and information security culture. Our privacy commandments aid us in meeting regulatory requirements and building trust with our stakeholders: Everyone has a right to privacy across our customers, employees, and wider stakeholder groups. That is why we apply a company-wide approach to managing privacy. Respecting individuals' privacy is essential to maintain trust in our business. Managing privacy risk effectively and ensuring compliance to regulations is at the core of our approach. Our privacy program governs how we collect, use, and manage personal data to make sure we respect confidentiality and any choices that have been made regarding the use of personal data. Information Security Our approach to information security is based around integration of information security controls at point of design for our internal systems and procedures. As attacks on systems and information become more advanced and widespread, it is essential that we continue to develop our capability to detect and protect against threats and attacks. We do this through a range of controls: Risk Management: Understanding, reviewing, and reporting the risks and threats associated with information assets. Perimeter controls: Maintaining devices designed to prevent unauthorised access to and from our network. Secure configuration: Ensuring systems are configured in the most secure and up-to-date way and standardised to meet our business needs. Access control: Maintaining role-based access control with the least access as default. Malware protection: Latest virus and malware protection is installed. Patch management: Only supported versions of applications are used and all necessary patches applied. Privacy and information security | 21 Our privacy commandments Privacy by design Incorporate privacy and security in our products and services Limit collection Minimum information received to achieve requirements Secure data Technical and organisational information security controls in place Respect rights and freedoms Ease of access to choices and clear privacy notice No unauthorised disclosures It is private information - we keep it that way Protect confidentiality Manage information within guidelines 22 | Our people Our people Employee retention At Nexteq, we believe that retaining talented people is about more than numbers-it's about creating an environment where individuals feel valued, supported, and inspired to grow. A stable, engaged workforce enables us to deliver on our vision and sustain long-term success. While we are proud that our voluntary attrition rate is just 9% well below the global average of around 20%, this achievement reflects deliberate steps we've taken to strengthen the employee experience. Over the past year, we have focused on building clarity and confidence for our people. This includes reviewing roles and launching a succession planning process to support career development, creating an employee forum to ensure every voice is heard, and investing in targeted training for managers to enhance leadership capability. As an Executive Committee, we have revisited our values and worked to articulate a clearer vision for the future-because we know that purpose and alignment matter. Looking ahead, we are also commencing a review of our compensation and benefits to ensure our offering remains competitive and fair. Employee retention is not a single initiative; it's a commitment to listening, learning, and acting in ways that help our people thrive. That commitment will continue to guide us as we grow. Diversity, Equity Inclusion and Belonging (DEIB) At Nexteq Group, we recognise that diversity, equity, and inclusion (DEI) are essential to building a workplace where everyone feels respected, valued, and able to thrive. While the first half of the year was focused on operational priorities, we have since taken steps to listen more closely to our global teams and align our approach in a way that respects regional cultures while promoting shared values. We acknowledge that representation in technology remains a universal challenge, and our own data reflects this reality. Women make up 36% of our workforce overall, yet only 13% of senior leadership roles are held by women. At board level, we have strengthened representation with two female Non-Executive Directors out of six, and our Executive Committee now includes two women out of five members. These figures highlight both progress and the work still ahead. Our commitment is to address these challenges thoughtfully and systemically. Over the past six months, we have begun creating a more consistent framework for DEI across regions, embedding inclusive practices into recruitment and leadership development, and ensuring that employee voices are heard through forums and engagement initiatives. We believe that meaningful change requires more than targets-it requires cultural alignment, education, and leadership accountability. Why DEI Matters to Our Sustainability Strategy Diversity, equity, and inclusion are not only social imperatives - they are strategic drivers of innovation, resilience, and global competitiveness. As a technology company operating across multiple regions, we know that diverse perspectives fuel creativity and enable us to design solutions that meet the needs of a global customer base. Inclusive teams are better equipped to adapt to change, solve complex problems, and anticipate emerging trends, all of which are critical to long-term sustainability. Equity ensures that opportunities for growth and advancement are accessible to all, helping us attract and retain the best talent in a competitive market. By fostering a culture of belonging, we strengthen collaboration and engagement, which in turn supports productivity and well-being. In short, DEI is integral to our ability to thrive as a business and to contribute positively to the societies in which we operate. Listening to our People At Nexteq Group, listening to our employees is fundamental to building trust and shaping a culture where every voice matters. While we have postponed our full Great Place to Work survey until September 2026 to give it the attention it deserves, we remain committed to hearing from our people regularly. In June 2025, we ran a global pulse survey to check in during a year of significant change. Our people | 23 What We Learned The pulse survey asked 15 questions and included open comments, providing valuable insights into how employees were feeling about working at Nexteq and the company's direction. Key findings included: Strengths: Increased collaboration, improved communication and transparency from senior leaders, and a stronger sense of unity as One Nexteq. Areas for Improvement: A clearer vision and roadmap for the future, more opportunities for face-to-face connection, better understanding of roles and functions, and clearer personal development pathways. Scores reflected these themes. For example, employees reported high commitment - "I look forward to coming to work here" scored 7.9 globally-but morale lagged behind at 6.1, suggesting a need for greater clarity and momentum. Confidence in leadership averaged 7.2 globally, and optimism about the future scored 7.4. These insights were shared with all employees at our October Town Hall, along with plans to address some of the areas for improvement. Pulse Survey - June 2025 Key results summary Question Global score (Out of 10) Nexteq has a positive working environment 7.9 Confidence in leadership 7.2 Optimism about the future 7.4 Morale is high 6.1 Key Strengths: Increased collaboration and transparency. Strong sense of One Nexteq unity. Areas for Improvement: Clearer vision and roadmap for the future. More face-to-face connection and role clarity. Defined pathways for personal development. Acting on Feedback We have taken several steps in response to employee feedback: Leadership Development: Continued investment in leaders through targeted training and coaching to support role changes. Employee Forums: Begun developing regional forums to explore issues between surveys and share solutions collaboratively. Role Clarity: Our half-year reviews focused on how teams and leaders see their roles, their career aspirations and training requests. Communication and Transparency: Strengthened Town Hall updates and leadership visibility, reinforcing openness and trust. Values Workshops: Preparing to involve all employees in shaping our future culture. Looking Ahead In 2026, we will build on these foundations with: A review of learning and development to address leadership and management gaps and create clearer pathways for personal growth. A succession planning project and career-focused performance discussions to help individuals proactively manage their careers. Embedding employee voice through forums and feedback loops, ensuring decisions reflect the perspectives of those they impact. Our goal is clear: to create an environment where feedback drives meaningful change, and every employee feels empowered to shape Nexteq's future. 24 | Our people Employee Wellbeing At Nexteq, we know that sustainable success relies on caring about and supporting our employees' well-being. Therefore, we are committed to taking a systemic view of well-being, looking across the organisation at areas such as how our environment, communication, ways of working and managing a global workforce and supply chain all impact employees. Establishing our employee forum will enable us to hear more directly and frequently from employees and address issues early before they become entrenched. In addition, our learning and development plans for 2026 will enhance the ability of leaders and managers to coach their teams and support their mental health. This year we have run a series of sessions on issues such as managing stress, resilience and self-care that are targeted more directly at specific well-being issues. This will continue through 2026 to support colleagues in maintaining good mental health and work-life balance. We will of course, continue with our team socials, monthly birthday celebrations, festival celebrations and other social interactions that enhance the positive aspects of working at Nexteq alongside training and development initiatives. Looking ahead, we will continue to expand our focus on well-being globally, ensuring that every employee has access to resources that promote physical, mental, and emotional health. For us, well-being is not an optional extra-it is a core part of building a culture where people can perform at their best and thrive together. Our local community and charitable activities | 25 Our local community and charitable activities 2025 has been a brilliant year for giving back at Nexteq. Across the UK, USA and Japan, our teams have come together to raise money, donate resources and support causes that genuinely matter to our people and their communities. Red Nose Day (UK) Our UK team got fully behind Red Nose Day, raising £290 for Comic Relief. A small event with a big heart, supporting vital projects that help tackle poverty and social injustice here in the UK and around the world. Backpack & School Supply Donations (USA) We donated $2,000 to a local US school to help children start the school year confident and equipped. The funding provided backpacks and pre-assembled school supply kits, including folders, coloured pencils, pens, erasers, glue sticks, pencils and spiral notebooks - practical support that makes a real difference in the classroom. Le Cure Charity Cycle Ride (UK) Our CEO (Duncan Faithfull) and our CFO (Matt Stiaght) supported the challenge of Le Cure , an annual self-funded cycling event inspired by Le Tour de France by donating £400 for The Royal Marsden Cancer Charity , helping to fund world-leading breast cancer research and patient care. Breakthrough T1D Walk (USA) We proudly supported the Breakthrough T1D Walk, the world's largest event dedicated to conquering type 1 diabetes. Alongside a company donation, our team raised over $700 , contributing to research, advocacy and support for the 1.45 million Americans living with T1D. Japan Walking Rally Our Japan team is currently taking part in a walking rally and has already raised over ¥27,600 in support of the relief appeal. The funds will help communities affected by the devastating earthquakes in the Noto Peninsula, Japan , and Kaohsiung, Taiwan earlier this year. Limitless Youth Football Club (UK) One of our most meaningful partnerships this year has been with Limitless Youth Football Club in Crawley. We donated £4,000 to provide winter jackets for youth players, coaches and young leaders, as well as gifting decommissioned laptops to support leadership and education programmes. Limitless is a Chagossian-led community club empowering 80-100 young people every week through football, education, leadership and mindset programmes, supporting over 50 families . They truly are more than a football club - they are a movement helping young people grow into confident, resilient, limitless champions. This partnership is especially close to our hearts, with families, volunteers and parents at the core of the club - including Matt, Nexteq's CFO, who supports Limitless both professionally and as Landon's dad in the U12s. We're excited to continue working together and building on this relationship in 2026 . 26 | Our local community and charitable activities Employee volunteering - Crawley Open House During the year, Nexteq colleagues continued to support Crawley Open House, a vital local charity working with people experiencing homelessness and social exclusion across Crawley and West Sussex. Our support goes beyond financial contributions. Teams regularly volunteer their time by purchasing ingredients and preparing freshly cooked meals for residents, providing practical help and meaningful human connection. Crawley Open House offers short-term accommodation for up to 24 adults, alongside a range of services designed to help individuals stabilise their circumstances and move towards independent living. Support is delivered in a non-judgemental environment and includes help with mental health challenges, substance misuse recovery and access to essential healthcare services. The charity also provides outreach support for individuals at risk of homelessness, as well as resettlement services to assist people in securing and sustaining suitable housing. Facilities such as the Resource Centre in Three Bridges play an important role in building confidence and developing skills that support employment, education and long-term independence. In addition to our ongoing relationship with Crawley Open House, Nexteq employees support local food banks and community initiatives through fundraising and donations. These activities reflect our commitment to supporting vulnerable people within the communities where we operate, and to encouraging colleagues to contribute their time and skills to causes that make a tangible difference. Nexteq plc The Galleria Station Road Crawley RH10 1WW, UK Tel: +44 (0)20 3597 6800 https://www.nexteqplc.com