Consolidated Sustainability Statements 2025 - 2025

This section serves as a brief introductory guide to the Consolidated Sustainability Statement, designed to assist users in understanding the information provided in the application of the European CSRD Regulation, transposed into Italian law by Legislative Decree No. 125/2024.

This Sustainability Statement is divided into the following sections and sub-sections:

• ESRS 2 General disclosures

• Environmental information

  • E1 - Climate change

  • E2 - Pollution

  • E3 - Water and marine resources

  • E5 - Resource use and circular economy

• Social information

  • S1 - Own workforce

  • S4 - Consumers and end-users

• Governance information

  • G1 - Business conduct

Within each sub-section, the Group discloses information relating to strategy, policies, actions, targets and metrics for the management of material Impacts, Risks and Opportunities (IROs).

Each disclosure included in the Sustainability Statement follows a pathway, which can be summarised as follows:

1. Double Materiality Assessment (paragraph IRO-1): This is the mandatory point of departure according to ESRS

   1. It identifies the Company's impacts on people and the environment (impact materiality) and how sustainability topics affect the Group's financial position (financial materiality), through risks or opportunities.

2. Material IROs (paragraph SBM-3): The material IROs identified by the DMA are defined and positioned along the value chain.

3. Policies (introductory paragraphs to the "Environmental Information", "Social Information", and "Governance Information" sections): These policies outline the formal commitments and guidelines adopted to manage each material IRO.

4. Actions (paragraphs "Management of impacts, risks and opportunities" within each sub-section): These describe operational plans, concrete initiatives and the financial resources (CapEx and OpEx) allocated to implement policies.

5. Targets ("Metrics and Targets" paragraphs): These present the measurable targets and time horizons established to address policy commitments quantitatively.

6. Metrics ("Metrics and Targets" paragraphs): These include the quantitative indicators (KPIs) used to monitor progress towards targets or commitments and to manage IROs.

   Traceability and Unique Coding System

   To enable effective cross-referencing and ensure the full verifiability of data, we have introduced a unique coding system. In each section or paragraph, an identification code (e.g. [E1-IN], [CE]) is assigned to each IRO and Policy in order to:

   • Instantly trace the full IRO pathway across the different sections of the Statement;

   • Clearly identify which Policies govern each specific impact or risk;

   • Provide a direct link between the actions taken, targets set and final reporting metrics.

This approach was adopted to ensure that no information is presented in isolation, with all information consistently embedded into a coherent and documented management framework.

Starting from the 2024 financial year, the Zignago Vetro Group (hereinafter also the "Group") has prepared this Consolidated Sustainability Statement (hereinafter also the "Sustainability Statement"), which fully replaces the Consolidated Non-Financial Statement (hereinafter also the "NFS") prepared in previous years.

The data and information contained in the Sustainability Statement have been processed and managed in compliance with the European Sustainability Reporting Standards (ESRS) introduced by the European Commission through Delegated Regulation 2023/2772 and the document has been subject to limited assurance by an independent audit firm.

All information included in the Sustainability Statement refers to the situation at December 31, 2025 - or the financial year ending on that date, in line with the Consolidated Financial Statements - and covers the Zignago Vetro Group's entire consolidation scope, in accordance with the international accounting standards (IFRS). 1

The relevant Impacts, Risks and Opportunities (hereinafter also "IROs") included in this statement were identified through the double materiality assessment. Further information on the methodology adopted to carry out the analysis, including the coverage of stakeholder views, is provided in the "SBM2 - Interests and views of stakeholders" and "IRO-1 -Description of the processes to identify and assess material impacts, risks and opportunities" paragraphs.

Material IROs with impacts extending along the value chain relate to greenhouse gas emissions and consumer safety. In these areas, Group Policies guide management across the supply chain, while Actions and Targets are primarily focused on the direct operational scope, ensuring the effective and measurable oversight of results.

The Group has not made use of the option to omit specific information required by the ESRS Standards concerning classified or sensitive data related to intellectual property, expertise or innovation results.

‌1With regard to undertakings based in an EU Member State, it is noted that the Group has not applied the exemption from reporting on impending developments or matters in the course of negotiation.

The short-, medium- and long-term time horizons adopted for the preparation of the Sustainability Statement were defined based on the provisions set out in section 6.4 of ESRS 1, namely:

− Short-term: financial year covered by this Statement (equal to 12 months);

− Medium-term: up to five years from the end of the reporting period;

− Long-term: beyond five years from the end of the reporting period;

The following metrics include data from the upstream and/or downstream value chain, estimated based on indirect sources.

The basis for preparing the estimates for the above indicators is detailed in the respective sections on environmental topics, to which reference should be made for further insights.

The following categories were used to define accuracy levels:

− High accuracy: based on primary data measured in compliance with standards and/or emission factors with high reliability, disclosed by national or international organisations;

− Medium accuracy: based on partially estimated data and/or emission factors reported in scientific databases;

− Low accuracy: based on hard-to-access data and/or unreliable emission factor sources.

For details on the basis used to prepare the metrics listed above, please refer to E1-6 Gross scopes 1, 2, 3 and total GHG emissions in the "Environmental Information" section.

With regard to forward-looking information, it should be noted that it has been defined on the basis of estimates and assumptions relating to future events and possible actions that the Group may take.

No additional quantitative metrics with a high degree of measurement uncertainty were identified.

Changes in the preparation and presentation of information and reporting errors in prior periods

In accordance with ESRS 2 (BP-2), the Group restated the comparative data relating to Scope 3 GHG emissions -Category 5 (waste generated by operations) for the 2024 financial year. This restatement does not derive from material errors, but from a refinement of the calculation methodology in order to improve reporting accuracy. Specifically, more granular emission factors were applied to distinguish between hazardous and non-hazardous waste, resulting in an increase from 2,560 to 6,874 tCO2e. This change leads to a 0.83% increase compared to total GHG emissions in 2024. While improving the level of detail, this revision does not significantly alter the Group's overall emissions profile as previously reported.

This Sustainability Statement includes certain information in compliance with other reporting frameworks, particularly the GRI standards issued by the Global Reporting Initiative and applicable from January 1, 2023. Below is a clear reference to the standards used and the corresponding disclosure requirements:

All datapoints required by the disclosure requirements mandated by the ESRS reporting standards have been fully reported in this Statement. Therefore, no information has been incorporated by reference to other sections of the Consolidated Financial Statements, the Directors' Report and/or other external documents. Any references to external documents are solely intended to provide readers with additional insights on the specific topic being addressed.

Zignago Vetro Group Governance System

At December 31, 2025, Zignago Vetro has adopted a traditional governance system, which includes an administrative body, represented by the Board of Directors, and a supervisory body, represented by the Board of Statutory Auditors.

The administration and operational management of the Group's companies is entrusted to Zignago Vetro S.p.A.'s Chief Executive Officer (CEO), who is formally appointed by the Board of Directors.

In compliance with the latest applicable regulatory provisions and the principles set out in the Corporate Governance Code, Zignago Vetro has adopted the following governance structure:

Board of Directors

The Shareholders' Meeting of May 7, 2025 appointed the Board of Directors, consisting of the following twelve members, who will remain in office until the approval of the financial statements for the year ended December 31, 2027:

The percentage of independent members on the Board of Directors is 50%. The under-represented gender constitutes 41.7% of the Board.

We note that the Group's organisational structure does not provide for the direct participation of workers' representatives in Board meetings. Workers' representatives were, however, appropriately briefed by means of an in-person meeting on the disclosure requirements of the CSRD Directive and ESRS principles, and were presented with the results of the DMA and the reporting and control methodologies adopted by the Group in the reporting year.

Appointments and Remuneration Committee

At the meeting on May 7, 2025, the Board of Directors renewed the mandate of the Appointments and Remuneration Committee (hereinafter also the "ARC") granting a mandate to the Directors listed below:

Control, Risks and Sustainability Committee

The Control, Risks and Sustainability Committee was appointed by the Board of Directors at the meeting on May 7, 2025 and comprises the following three Non-Executive Directors, two of whom are independent:

Related Party Transactions Committee

The Related Party Transactions Committee, appointed by the Board of Directors on May 7, 2025, is composed of the following Non-Executive Directors, who meet the independence requirements set out in the Corporate Governance Code:

Board of Statutory Auditors

The Board of Statutory Auditors, appointed by the Ordinary Shareholders' Meeting on May 7, 2025, will remain in office until the approval of the 2027 financial statements and is composed as follows:

Supervisory Board

The Supervisory Board, appointed by the Board of Directors on May 7, 2025, is the supervisory body responsible for ensuring that the Organisation, Management and Control Model pursuant to Legislative Decree No. 231/2001 is adequate and efficient, effective and updated. The members appointed are:

Gender and skills of the administrative, management and supervisory bodies

The gender distribution of the Administrative and Supervisory Bodies in office at the Reporting Date is presented in the table below.

Effective oversight of sustainability issues is closely linked to the ability of corporate bodies to understand the interaction between environmental, social and governance (ESG) factors and the Group's business model. As such, Zignago Vetro's Board of Directors is structured to achieve a balance between different areas of expertise considered fundamental to the informed management of impacts, risks and opportunities. The graphic2 below illustrates the professional composition of the administrative, management and supervisory bodies, where the number of coloured circles indicates the members who possess the specific expertise, while the empty circles represent the remaining members of each body:

This mapping directly relates corporate expertise to double materiality issues, ensuring strategic oversight of the Group's key IROs (Impacts, Risks and Opportunities):

• Sector, Product and Strategy Experience3: These are critical in driving product innovation and assessing the resilience of the industrial model in terms of the Circular Economy (use of glass scrap) and water resource management.

• Sustainability and Climate Strategy: Provides tools to govern decarbonization goals and monitor physical and transitional risks related to climate change and pollution.

  ‌2BOD: Board of Directors; SC: Board of Statutory Auditors; CRSC: Control, Risks and Sustainability Committee; SB: Supervisory Board; ARC: Appointments and Remuneration Committee.

  ‌3"Industry experience" also refers to experience related to the Group's products and geographical areas

• Finance, Accounting and Risk Management: Ensures the integration of IRO management into internal control systems and reporting, guaranteeing financial robustness and transparency in dealings with the market.

• Legal and Compliance: Oversees regulatory compliance and business ethics, essential pillars of sound corporate governance and end-user protection.

• Engineering Techniques: The technical driver for process efficiency, adoption of low-emission technologies and optimised production resource use.

• Cyber Security: Essential to protect data integrity and digital infrastructure resilience, ensuring the Group's business continuity in the face of cyber threats.

• Human Capital: Governs dynamics relating to the Company's own workforce, ensuring alignment between business strategies, employee well-being and inclusion.

• International Experience: Enables the Group's global strategy, adapting it to the specifics of the geographic markets in which it operates.

  The information presented derive from a self-assessment process conducted by the corporate bodies, supported by analysis of resumes (which are available in the Corporate Governance Report).

  The analysis reveals that six members of the Board of Directors declare specific expertise in the field of Sustainability, while five have established experience in the relevant industrial sector. The reduction in the latter figure from previous years reflects a specific strategic choice: the inclusion of new Directors with diverse backgrounds, with the goal of ensuring a multidisciplinary vision that is required to compete in an increasingly integrated and complex market. It is also important to underline that, where the analysis of specific issues requires it, administrative, management and supervisory bodies may request the support of independent outside experts, ensuring that any decision is based on up-to-date technical data and expert opinions.

  Oversight of Impacts, Risks and Opportunities

  Zignago Vetro's governance model grants the Board of Directors ultimate responsibility for oversight of procedures designed to manage impacts, risks and opportunities, making use of an organisational structure that ensures a constant and multidirectional flow of information between the various decision-making levels.

  Oversight of IROs is entrusted in the first instance to the Control, Risks and Sustainability Committee (CRSC). This internal Board committee performs investigative and advisory functions and is governed by special regulations updated in 2023 to reflect ESG responsibilities. The CRSC systematically monitors the Group's exposure to sustainability risks and the effectiveness of the mitigation measures taken.

  At the operational level, this is managed by the ESG Committee, an internal Board committee chaired by the Chief Executive Officer and consisting of the key corporate functions. The ESG Committee is responsible for the operational implementation of sustainability policies, setting performance targets (KPIs), and monitoring the dynamic IRO mapping process, working with the CRSC to report on progress. Though no single executive role with exclusive delegated authority over each IRO has yet been defined, responsibility is shared collegially between the ESG Committee and the Executive Officer for Financial Reporting, under the supervision of the CRSC.

  The governance system as described above ensures that the BoD exercises active control over target-setting and progress monitoring, through CRSC oversight and the operational management of the ESG Committee. Performance results are therefore integrated into strategic assessments, ensuring that industrial decisions are based on up-to-date data regarding trends in impacts, risks and opportunities. As part of its periodic review of impacts, risks, and opportunities (IRO), the Board of Directors did not deem it necessary to change the sustainability targets contained in the Group's strategy, and the decisions made during the period did not identify any conflicts between short-term financial performance and maintaining the sustainability profile in the medium to long term.

  Beyond management of the BoD, CRSC, and ESG Committee, another key pillar of IRO governance is the management of business conduct that is geared towards safeguarding integrity, transparency, and respect for human rights. In this area, the body responsible for oversight is the Supervisory Board (SB), which operates autonomously and independently to ensure the effectiveness of the Organisation, Management and Control Model (231 OMCM) and compliance with the Code of Ethics.

  The Supervisory Board acts as a specific safeguard against risks related to business conduct (e.g. corruption and fair competition), exercising initiative and control powers over all stakeholders (employees, Directors and partners). The activities of the Supervisory Board inform semi-annual reports addressed to the Chairperson and Board of Directors, ensuring that ethical risks are monitored just as financial and operational risks are.

  During the year, the Board and CRSC directly addressed all material Group IROs by reviewing and establishing the following strategic pillars:

• the 2025 double materiality process;

• the 2024 Sustainability Report;

• the Transition Plan and related environmental targets to 2030;

• health and safety performance.

  GOV5 - Risk management and internal controls over sustainability reporting

  To ensure the reliability of sustainability reporting, Zignago Vetro has introduced the following internal control system, which supplements operational processes with monitoring and supervisory functions:

  
  
  

  Management systems

  ESG data collection and management infrastructure is also based on certified Management Systems (ISO 14001 -Environment, 50001 - Energy, 45001 - Health and Safety, 9001 - Quality, and FSSC 22000 - Food Safety). These enable standardised primary data collection at the production site level, reducing operational discretion and ensuring traceability of environmental and social information. Each sustainability indicator integrated into these schemes derives from a certified process that involves periodic instrument calibration, systematic recordings, and the performance of internal and external audits. The integration of ISO systems into the reporting framework therefore ensures the following safeguards:

• Reliability and Verifiability: generating objective, standardised data minimises the risk of error and promotes the faithful representation of performance in public statements.

• Risk Assessment: audit findings enable early identification of critical issues in internal controls, providing objective evidence to assess and prioritise risks regarding data quality and regulatory compliance.

  In this context, the following system certifications are currently valid or planning for the coming years:

  Certifications	ZV Fossalta	ZV Empoli	ZV Polska	ZV France	Vetro Revet	IGM
  ISO 9001	V	V	V	V	V	V
  ISO 14001	V	V	V	2027	V	2027
  ISO 50001	V	V	V	-	N/A	N/A
  ISO 45001	V	V	V	2027	2027	2027
  FSSC 22000	V	V	V	-	N/A	N/A

  Segregation of duties

  Given the current nature of the reporting process, which contains manual steps and therefore entails a risk of potential errors or manipulation of data, the Group has introduced Segregation of Duties (SoD) to mitigate this eventuality. This approach provides for:

• Data Owners: operational managers who enter data.

• Data Reviewers: co-ordinating functions that check the consistency of the data collected.

• ESG Specialists: a dedicated staff member reporting directly to the Executive Officer for Financial Reporting, who oversees and monitors the entire process, ensuring the accuracy of aggregations and the appropriacy of the estimates used.

  Risk prioritisation and oversight

  In the interests of continuous improvement, the Group has embarked on a path to progressively strengthen its internal control system on sustainability reporting. This approach is designed to gear ESG data management processes towards the faithful representation of performance.

  The adequacy of this system is currently ensured by two independent supervisory bodies:

• Internal Audit: periodically verifies the appropriacy of internal controls based on a plan approved by the Control, Risks and Sustainability Committee (CRSC), identifying areas for operational improvement and prioritising corrective actions based on their potential impact and severity on the accuracy and faithful representation of information in the Sustainability Statement.

• Board of Statutory Auditors: as part of its supervisory functions, monitors the suitability of the organisational structure and the appropriacy of information flows for reporting, overseeing the external audit process.

The findings of the audits and the progress of the action plans are reported periodically to the CRSC and, through it, to the Board of Directors, ensuring that the senior management bodies constantly oversee the quality of the reporting process.

The table below indicates the sections of the Sustainability Statement where the topic of due diligence is addressed.

Since the 2020 financial year, the Zignago Vetro Group has adopted a general remuneration policy, designed in line with the Group's Strategic plan and in compliance with the criteria set out in the Consolidated Finance Act and Issuers' Regulation.

The Group's Remuneration Policy seeks to:

− Contribute to the corporate strategy, promoting the achievement of business objectives, the improvement of results in the short, medium and long term, and sustainable development;

− Define incentive systems with clear, measurable targets that align with the Group's Strategic Plan;

− Attract, retain and motivate high-calibre professionals within the Organisation;

− Encourage actions and behaviours consistent with the Group's values and in full respect of the Code of Ethics. The Appointments and Remuneration Committee is responsible for defining the Remuneration Policy, including its periodic review to ensure proper application and alignment with the established performance targets.

As part of the policy review process, which is conducted at least once a year, the Appointments and Remuneration Committee plays an advisory and consultative role for the Board of Directors, submitting specific proposals for amendments to the Policy. Any modifications to the document are deliberated by the Board of Directors and subsequently submitted to the Shareholders' Meeting for final approval, following consultation with the Board of Statutory Auditors. The adoption of the Policy establishes that a portion of the remuneration of Directors, Senior Executives and other significant roles within the organisation - approximately 30-40% of total remuneration - is variable. This means it is subject to the actual achievement of predefined annual targets. These targets are linked to economic and financial performance, individual performance and/or ESG performance, measured on an annual basis.

This variable portion is divided into three pillars:

• Economic-financial performance targets - primarily linked to indicators such as revenue, EBIT and ROI -accounting for 30-50% of the incentive-based remuneration for relevant non-executive employees (white-collar employees and managers) and 80% for executives.

• Personal performance targets, which vary in the range of 20% to 70%, depending on the specific task performed. These targets are typically set at the beginning of each financial year and are subsequently monitored and recorded at the end of the reporting period, determining whether or not they have been achieved, and consequently their effect on variable remuneration.

• Sustainability targets, for which the Remuneration Policy stipulates that approximately 20-25% of variable remuneration is tied to the continuous improvement of the Group's sustainability profile. This is measured based on the achievement of specific targets, represented by formal sustainability ratings assigned to the Group by leading ratings agencies. This approach reflects a willingness to establish incentive-based remuneration parameters that are objectively verifiable.

The current remuneration policy does not include any evaluation criteria regarding specific GHG emission reduction targets disclosed under the E1-4 disclosure requirement; however, seeking improvement in the Group's GHG emissions logically allows for better ratings from leading rating companies. We also note that the performance of administrative, management and supervisory bodies is not currently assessed in relation to specific sustainability targets and/or impacts.

Regarding remuneration, the assessment of the achievement of ESG performance targets is conducted by the Appointments and Remuneration Committee, with subsequent approval by the Board of Directors and the Shareholders' Meeting.

For more details on the internal functioning of the Appointments and Remuneration Committee, please refer to the "Remuneration Policy and Report", available in the Governance section of the Company's website, which was approved by the Zignago Vetro S.p.A. Board of Directors on March 14, 2025 and by the Shareholders' Meeting on May 7, 2025.

The Zignago Vetro Group is now one of the leading companies in the production and commercialisation of glass containers both in Italy and globally. Given the nature of its core business, the Group operates through Business-to-Business (B2B) relationships, engaging with industrial companies primarily in the Food & Beverage sector (mainly wine, oil and water), in addition to Cosmetics & Perfumery.

Key products offered and markets/customer groups

The table below summarises the key market segments and product groups marketed by the Group, relating to companies included in the reporting scope (IFRS).

At the date of this Statement, none of the product types marketed by the Zignago Vetro Group are banned in any specific markets.

No Group company operates in the fossil fuels, arms, chemical manufacturing or tobacco cultivation and production sectors. As a result, the revenue generated from these economic activities is zero.

Number of employees by geographic area

Sustainability objectives and strategy

The Group's commitment to ESG has evolved over time, progressively adopting a more strategic approach, also based on the definition of a long-term target system.

The ESG Committee and Control, Risks and Sustainability Committee are entrusted with the definition and potential revision of strategic guidelines on sustainability matters, which are subsequently presented and approved by the Board of Directors.

Zignago Vetro articulates its commitment to sustainability in an integrated strategy that seeks to minimise the Group's environmental impact along the entire product life cycle, structured around three key pillars that guide the evolution of its business model.

1. Study and Development of New Products (Eco-Design)

   Guided by the Life Cycle Assessment (LCA) and eco-design principles4, the Group develops packaging solutions that combine aesthetics and functionality with reduced environmental impacts. The main innovations include:

   • Lightweight Products: Development of lightweight containers that reduce raw material requirements and logistics-related emissions

   • Deep Green Collection: A UVAG glass cosmetics line made with up to over 90% recycled glass, offering up to 89% enhanced natural UV protection for its contents.

   • Interchangeable Bottle Necks: Solutions such as the Lama bottle, which support reuse and recycling while ensuring production flexibility thanks to a screw-neck design.

   • Aquamarine Containers: products for the food and beverage sector incorporating high percentages of post-consumer recycled glass (PCR between 30% and 55%).

     ‌4 The Zignago Vetro Group has chosen to use the Life Cycle Assessment (LCA) methodology to scientifically evaluate the overall environmental impact of its various products, spanning from production to disposal.

2. Reduction of Virgin Raw Materials (Circular Economy)

   Maximising the use of glass cullet represents a core strategic pillar. Increasing the share of recycled glass in the melting mix enables a drastic reduction in the use of virgin natural resources, thereby limiting extraction activities. The environmental benefit of this approach is twofold: it lowers energy consumption, thanks to the reduced melting temperature required for cullet, and subsequently reduces both direct (process) and indirect CO2emissions.

3. Investments in Technology and Energy Efficiency

In line with the Environmental Sustainability Plan for climate change mitigation (Section E1 Climate Change), the Group pursues decarbonisation through targeted investments.

The main actions include improving energy efficiency by adopting ISO 50001 certification and advanced monitoring systems, in addition to energy recovery initiatives (e.g. ORC plants and district heating). A key element is the progressive transition to furnace electrification and the increased use of renewable energy, through the installation of photovoltaic systems and sourcing from biomass (Zignago Power). Research into alternative energy carriers also continues, including hydrogen through the H2GLASS project.

The main challenges for the future include:

− Research and application of innovative glass melting technologies that seek to reduce pollutant emissions into the atmosphere, such as the full electrification of furnaces. To date, these technologies are still in the experimental phase and are being tested on a large industrial scale;

− Replacement of fossil fuels with alternative fuels, moving away from non-renewable conventional sources. Currently, no definitive progress has been made regarding the development of these fuels for effective industrial use, ensuring long-term production continuity suited to business needs;

− Further enhancement of the electric component of furnaces, progressively moving beyond the current hybrid (methane) technology. An investment of this type would also require a simultaneous upgrade of existing infrastructure, enabling it to receive and store the additional electricity needed;

− Continuous increase in the percentage of recycled PCR glass in the production mix, particularly for white glass containers, while maintaining the intrinsic characteristics and quality of the finished product. This aspect is primarily influenced by the sufficient availability of high-quality, well-separated recycled glass on the market.

The key projects and critical solutions that the Zignago Vetro Group has planned to tackle the aforementioned challenges are outlined in the Group's Environmental Sustainability Plan. For more details, please refer to Section E1 Climate Change.

Value chain

In the glass industry, several different activities contribute to value creation for customers, involving a wide range of stakeholders throughout the process, both upstream and downstream.

The table below outlines the key stakeholders involved in the Zignago Vetro Group's value chain5:

‌5Inputs and approach to gathering and developing those inputs:

• Analysis of the Group's main customers and suppliers based on data extracted from SAPs, along with supplier assessment informed by direct engagement through surveys

• Analysis of the Group's own workforce based on trends in KPIs relating to health and safety, training and annual payroll developments, derived from the Company's internal management systems and from an assessment of the social environment conducted in 2025.

• Statistics and analyses of sales and purchasing volumes based on SAP management systems, used to compare trends by product category, sector and/or customer/supplier.

Constant interaction with stakeholders is ensure through normal day-to-day operations, allowing requests and perspectives to be gathered and formally fed into the double materiality assessment process. This channel enables the administrative, management and supervisory bodies to review findings and guide the Group in identifying material IROs.

Management plays a central role in this process through dedicated bodies such as the ESG Committee, Management Review and the Executive Committee, which are responsible for analysing strategic issues. The results of these interactions are shared periodically with the Control, Risks and Sustainability Committee (CRSC) and the Board of Directors, ensuring that the corporate sustainability strategy is aligned and organised into the policies, actions, targets and metrics presented in this Statement.

For FY 2025, stakeholder engagement was based around interaction channels built in to business operations, i.e. without the use of sessions dedicated exclusively to reporting. For an analytical description of the methodologies applied, see the section "IRO 1 - Description of the process to identify and evaluate material IROs"

The Group's main stakeholders, how they interact, and the purpose of engagement are set out below: