Barco

The role of the administrative, management and supervisory bodies Barco's organization is set up in three divisions, serving three different end-markets: Healthcare, Enterprise and Entertainment. Each division comprises two business units, which handle marketing and communications, sales, product management and R&D, while more general functions (services, sales support, operations, digitization, finance, HR, legal and Barco Labs) are managed on a global level. In 2024, Charles Beauduin moved from co-CEO to Chairman. The transition was exceptionally seamless. As planned from the beginning, Charles stepped down as Barco's co-CEO in September last year, following a period of significant transformation. Charles' dedication to Barco continues now in a different role, as chairman of the board, where he will keep focusing on value creation for the company. An Steegen became the sole CEO, following the board's trust in her to lead the company. The board of directors maintains oversight responsibility for corporate strategy and sustainability matters.

Strategy, business model and value chain Barco offers advanced visualization, collaboration and networking technologies for professionals in mission-critical environments. We combine this with a commitment to innovation and sustainability. Our mission: Our visualization and collaboration technology helps professionals accelerate innovation in the healthcare, enterprise, and entertainment markets. Barco's strategy comprises three levers: Capture profitable and efficient growth, Innovate for impact and Sustainable impact journey. These are the priorities we want to focus on to remain relevant and flourish in the short, mid- and long term. They help us prioritize our business activities. Value Creation Model: At Barco, we are constantly thinking about how we can create long-term value for all our stakeholders in the short, medium and long term. The value creation model visualizes our approach. It articulates the mission of our company and links it to our strategy and the markets we cover. The Barco ecosystem contains key internal and external stakeholder groups across the value chain: Board of Directors and senior management, Shareholders & investors, Employees, Distributors, resellers, partners, and integrators, Customers and end-users, Suppliers. The ecosystem also includes Society representatives, Government & public authorities, Academics, industry associations, NGOs, key opinion leaders, Press & general public, Banks & analysts.

Interests and views of stakeholders Barco attaches great importance to stakeholder engagement: outside and inside views help us identify and prioritize emerging trends and align our strategy, policies, and actions with the interests of our broad ecosystem – from the Board of Directors, shareholders, and employees through to distributors, customers, suppliers, and others. Sustainability is a joint effort. To ensure our products shape the healthcare, entertainment, and collaboration of tomorrow in a sustainable manner, we consider the impact of every step in our value chain, across the lifecycle of our products, from the sourcing of raw materials to the disposal of our products. Rather than merely consulting our stakeholders, we collaborate with them. We team up with business partners, academics, industry associations, etc. to deliver sustainable impact. In addition, we actively participate in targeted external global initiatives that promote sustainability, such as the Science Based Targets initiative, Carbon Disclosure Project, EGN, etc. To truly understand what topics matter most to all our stakeholders, Barco launched a first comprehensive single materiality assessment in 2020. Over the years, we have kept it up to date to make sure it reflects the latest developments in our business, markets, and ecosystem. In 2023, we stepped up this exercise, conducting a double materiality assessment. Approaching the assessment as a strategic project to capture valuable input from our wide ecosystem, we questioned internal and external stakeholders across the value chain via surveys, interviews, and focus groups. Their input was scored, consolidated, and plotted on a matrix.

Material impacts, risks and opportunities and their interaction with strategy and business model The double materiality assessment identified the following material topics that are ranked as high-impact material, high-financial material, or both: • Climate change & energy • Product life cycle management • Innovation, new technologies & product portfolio • Circular economy & waste • Talent & career development • Customer experience • Diversity & Inclusion • Product quality & safety • Responsible & resilient supply chains • Information security • Corporate governance & strategy • Business ethics 3 key takeaways from our double materiality assessment: 1. We are building on a strong foundation - Our stakeholders confirmed the importance of areas we have been focusing on in the past, such as sustainable lifecycle management, climate change, and customer experience. In addition, many entity-specific topics – closely tied to Barco's DNA – ranked high both from an impact and risk & opportunity perspective. 2. We will strengthen our focus on emerging priorities - Compared to our 2020 materiality assessment, we see new topics emerging or receiving a higher score, including circular economy, and Diversity & Inclusion. We will strengthen our commitment in these areas. 3. We will maintain excellence on low or medium material topics - Topics like community engagement & relations, health, safety & well-being, and information security were rated as low or medium material by our stakeholders. Still, we remain committed to upholding our high standards or further developing our actions in these areas. The outcome of the double materiality assessment has been embedded into Barco's value creation model and resulted in a new sustainability strategy. It will guide us in focusing our sustainability ambitions, strategy, and actions for the coming years.

Description of the processes to identify and assess material impacts, risks and opportunities Barco's double materiality assessment measures: • The impact materiality: the actual and potential positive or negative impacts of Barco on society (inside-out) • The financial materiality: the actual and potential risks and opportunities that have or may have financial effects on Barco (outside-in) Approaching the assessment as a strategic project to capture valuable input from our wide ecosystem, we questioned internal and external stakeholders across the value chain via surveys, interviews, and focus groups. Their input was scored, consolidated, and plotted on a matrix. To truly understand what topics matter most to all our stakeholders, Barco launched a first comprehensive single materiality assessment in 2020. Over the years, we have kept it up to date to make sure it reflects the latest developments in our business, markets, and ecosystem. In 2023, we stepped up this exercise, conducting a double materiality assessment. The double materiality matrix shows the topics that are material and non-material for Barco. Material topics are topics that are ranked as high-impact material (y-axis), high-financial material (x-axis), or both.

Transition plan for climate change mitigation We take science-based climate action(s) - We aim for science-based climate action and continue the journey to net zero. Our 2025 greenhouse gas (GHG) emissions target is in line with limiting global warming to 1.5°C above pre-industrial levels. By reducing our carbon footprint and developing solutions that contribute to tackling climate change, we aim to protect the planet for future generations. Carbon reduction target: -62% achieved in 2024 vs 2015 baseline, with target of -45% by 2025. Energy consumption from renewable sources: 70% achieved in 2024, with target of 75% by 2027.

Targets related to climate change mitigation and adaptation TARGET 2025: -45% greenhouse gas emissions reduction vs. 2015 TARGET 2027: -20% energy consumption in own operations vs 2023 TARGET 2027: 75% renewable energy consumption Actual performance 2024: • Total greenhouse gas emissions: -62% reduction vs. 2015 • Energy consumption from renewable sources: 70%

Energy consumption and mix Energy consumption in own operations: 35,404 MWh in 2024, compared to 32,905 MWh in 2023 TARGET 2027: -20% vs 2023 Renewable energy: 70% of energy consumption from renewable sources in 2024, up from 60% in 2023 TARGET 2027: 75% renewable

Gross Scopes 1, 2, 3 and Total GHG emissions Total greenhouse gas emissions: 307,157 tonnes CO2e in 2024, compared to 302,234 tonnes CO2e in 2023 This represents a -62% reduction vs. 2015 baseline, exceeding our TARGET 2025 of -45% vs. 2015

Policies related to resource use and circular economy We offer circular solutions - We want to provide our customers with an increasingly circular experience. This means designing our products to extend their lifespan and offering 'as-a-service' models that eliminate the need for ownership. Our aim is to retain the highest utility and value of our products and components for as long as possible. Additionally, we aim to reduce our own company waste and recycle remaining waste as much as possible. We develop more sustainable products - We are dedicated to developing more sustainable products, considering the environmental impact at every stage of the lifecycle. Our ecoscoring methodology evaluates key areas – Energy, Materials, Packaging & Logistics, and End-of-life – to ensure our products meet the highest environmental standards.

Policies related to own workforce We foster entrepreneurial, engaged and inclusive teams. We empower our colleagues to build enriching careers through continuous growth and development. That's why we embed a continuous learning mindset, encouraging our people to learn and develop themselves. We co-create a healthy, smart and safe organization, both physically and mentally. We engage in building an inclusive workplace that thrives on the diversity of our people as this boosts our innovation capacity. We promote and build an inclusive environment - We are building an inclusive workplace of equity, fairness, and respect that thrives on the diversity of our people. It is all about embracing different personalities and viewpoints because great things happen when the creative minds of our visioneers come together. After all, we serve a diverse range of global markets, so it only makes sense for our teams to reflect that same richness. We co-create a healthy, smart, and safe organization - At Barco, people are our most important assets. That is why we are dedicated to creating a healthy workplace – both physically and mentally. It is a commitment we live by at every site and level of our organization. We want our colleagues to feel engaged and fulfilled at work and maintain a healthy work-life balance. We embed a continuous learning mindset - Learning is part of everyday life at Barco. We are all about empowering our colleagues to build enriching careers through continuous growth and development. That is why we actively encourage our people to keep learning and evolving. Every year, we review our training programs and development opportunities to ensure they stay relevant and impactful – because investing in our people's growth is what keeps us moving forward.

Targets related to managing material negative impacts, advancing positive impacts, and managing material risks and opportunities TARGET 2027: 20 average training hours per employee Actual 2024: 20.3 average training hours per employee TARGET 2027: 75 Employee Engagement Score Actual 2024: 73 Employee Engagement Score

Characteristics of the undertaking's employees Number of employees at the end of the financial year: 3,243 FTEs in 2024 (including integration of Cinionic), compared to 3,360 in 2023 and 3,302 in 2022. Geographical distribution: • The Americas: 14% • Asia-Pacific: 33% • EMEA: 53% Per functional group: • Operations: 42% • Research & development: 29% • Sales & marketing: 21% • General & administration: 8%

Diversity metrics Gender overall and senior management: • Overall workforce: 30% women, 70% men in 2024 • Senior management: 19% women, 81% men in 2024 (compared to 18% women in 2023 and 19% women in 2022)

Training and skills development metrics Average training hours per employee: 20.3 hours in 2024, compared to 15.8 hours in 2023 and 12.2 hours in 2022 TARGET 2027: 20 average training hours per employee Employees in R&D: 948 heads in 2024, representing 29% of total employees (compared to 31% in 2023 and 2022)

Policies related to consumers and end-users Customer experience is one of our material topics. We drive sustainable change through innovation & technology. At Barco, we believe that innovation is the key to driving sustainable progress, and we are committed to leading the way in creating a better, smarter, and healthier world. We have been at the forefront of the digitization of various industries, including healthcare, cinema, and beyond. With our pioneering solutions, we aim to be part of the solution. Customer Net Promoter Score: 54 in 2024, compared to 48 in 2023 and 44 in 2022 TARGET 2027: at least 50

Business conduct policies and corporate culture We cultivate reliable and responsible business - We cultivate responsible and reliable business practices. Barco places great emphasis on building a company culture where ethical conduct and compliance with our policies and applicable regulations are at the core of how we do business. We demand the same from our business partners. More specifically, we aim to strengthen our product and service reliability, enhance our efforts for a responsible and resilient supply chain, and foster customer and partner intimacy. Employees trained in product quality, safety, security, ethics, compliance and sustainability: 98% of heads in 2024, compared to 99% in 2023 and 99% in 2022 TARGET: 100%

Management of relationships with suppliers Responsible & resilient supply chain is one of our material topics. We enhance our efforts for a responsible and resilient supply chain as part of cultivating responsible and reliable business practices. Suppliers scored on sustainability performance: 77% of production spend in 2024, compared to 81% in 2023 and 71% in 2022. Balancing sourcing of essential components (e.g. semiconductors) by launching new products and redesigning existing ones for greater flexibility in component substitution throughout the product's lifecycle. Insourcing production of critical subassemblies.