E1 – Climate Change

E1-1: Transition plan for climate change mitigation [Note: The text indicates this section exists on page 56 but the provided content appears to be cut off at the double materiality analysis section. Based on the table of contents, this disclosure requirement is included in the report but the full content is not visible in the provided excerpt.]

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.

BBVA has defined a decarbonization strategy for its portfolio alignment and has developed a management model to monitor decarbonization objectives. BBVA has set decarbonization targets for 11 high-emission sectors with intermediate objectives for 2030 and the goal of achieving net zero emissions by 2050. The sectors covered include: Oil & Gas (upstream), Power generation, Auto (manufacturers), Steel (manufacturers), Cement (manufacturers), Coal (thermal coal mining), Aviation (airlines), Shipping (operators), Real estate (commercial), Real estate (residential), Aluminum (primary manufacturing). In 2024, BBVA has published new decarbonization targets for three additional sectors, aluminum and residential and commercial real estate in Spain. By 2024, 91% of the loan portfolio in high-emission sectors has a Transition Risk Indicator (TRi). BBVA has created a Sustainability Alignment Steering Group (SASG) to make proposals and monitor the alignment objectives of the sectors for which specific objectives have been set and to supervise their compliance. BBVA recognizes a major challenge since meeting the objectives of decarbonization or aligning their portfolios depends, to a large extent, on the actions of third parties, such as customers, governments and other stakeholders.

Danica is part of the Danske Bank Group, and Danica's climate targets form part of the Group's Climate Action Plan, which is a strategy and roadmap for the Group, including Danica, to achieve a net-zero business aligned with the Paris Agreement. Danica does not yet have a transition plan that fully complies with the ESRS disclosure requirements in relation to transition plans. During 2025, Danica expects to collaborate with the Group on developing a group-wide transition plan that is in compliance with the ESRSs disclosure requirements in relation to transition plans. The transition plan will include Danica and be based on the climate targets and actions in the Climate Action Plan, which forms part of the overall business strategy. The Group's Climate Action Plan covers Danica's climate targets and measures for equity and bond investments in relation to decarbonisation targets for five sectors and Science Based Target initiative SBTi temperature targets, green transition investment targets for the entire investment portfolio and decarbonisation targets for the real estate portfolio. Danica's target of having a net-zero investment portfolio by 2050 or earlier is anchored with and part of the Danske Bank Group's Climate Action Plan, which was launched in 2023 as a transition plan toward Net Zero for the Danske Bank Group in line with the Paris Agreement. The plan describes primary interim targets and actions to deliver on the 2050 target. The plan is in accordance with Danica's business strategy and constitutes the first step toward a transition plan for Danica.

Climate transition plan described on pages 67-76. GN is committed to protecting our planet by reaching our 2030 climate goals and having net-zero emissions by 2050, in line with the scientific consensus on the need to limit global warming to 1.5 degrees Celsius. We are focused on product and service development that will help us achieve this target and support the transition to a circular economy. GN has set science-based targets including: 58% reduction in scope 1 and 2 carbon emissions vs 2021; 26% reduction in scope 3 carbon emissions vs 2021. The transition plan includes measures across operations, supply chain, and product development.

KONE is committed to a 50% cut in the Scope 1 and 2 emissions from its own operations by 2030, compared to a 2018 baseline, and has pledged to have carbon neutral operations by 2030. This target is in line with limiting global warming to 1.5°C, which is currently the most ambitious criteria for setting science-based targets. Additionally, KONE targets a 40% reduction in the emissions related to its products' materials and lifetime energy use (Scope 3 emissions) over the same period, relative to orders received. KONE's new strategy has a strong emphasis on emission reduction targets as one of the core strategic shifts. To support the ongoing green transformation, KONE has a Climate and Environmental Excellence Program which is centered around four focus areas: partner with customer, offering, operations, and mindset and behavior. All of KONE's emissions reduction activities in 2024 are aligned with its climate change scenario analysis work to ensure long-term success in line with the 1.5°C pathway of the Paris Agreement. KONE's constant focus is on actual emission reductions both in its own operations and in products and value chain. However, to reach carbon neutral operations by 2030, KONE is planning to compensate the remaining emissions. KONE has identified the following key decarbonization levers to reach its science-based targets by 2030 in its own operations (Scope 1 and 2) and value chain (Scope 3): • Scope 1: fleet transformation to electrical vehicles (EVs) and increasing use of renewable energy • Scope 2: increase use of renewable electricity and other renewable energy sources • Scope 3: increase share of energy-efficient electrification systems and regenerative drives, increase material efficiency, systematically engaging with suppliers, product innovations and partnerships

Hydro's target is to be a net-zero company by 2050 or earlier, delivering net-zero products and enabling a net-zero society. Based on a 2018 baseline, Hydro targets 10 percent reduction of total scope 1 and 2 greenhouse gas (GHG) emissions by 2025, and 30 percent by 2030. Hydro also targets a 15 percent reduction in upstream scope 3 emissions by 2030 and 30 percent reduction in upstream scope 3 emissions per tonnes aluminium delivered to market by 2030.

We have made significant progress in reducing our scope 1 and 2 emissions since 2019. However, our scope 3 emissions, which comprise about 96% of our total emissions, continue to rise as we grow to meet increasing demand for our medicines. To achieve net zero emissions by 2045, we have a roadmap to reduce scope 3 emissions by 33% by 2033, using 2024 as the baseline. This target – which covers nearly 70% of our scope 3 emissions in accordance with Science Based Targets initiative (SBTi) provisions – is aligned with climate science and has been submitted to the SBTi for validation. Key decarbonisation measures include switching to low-carbon materials and feedstock across our production network, shifting our distribution model to low-emissions transportation and supporting our suppliers in transitioning to renewable energy. To date, more than 1,800 suppliers have already committed to make the switch.

RSG has established a comprehensive transition plan for climate change mitigation as part of its Most Sustainable Airports roadmap with objectives to be achieved by 2030 and towards 2050. The plan includes targets aligned with the Intergovernmental Panel on Climate Change (IPCC) to remain within planetary boundaries. RSG has achieved net-zero for Scope 1 and 2 emissions two years ago, primarily through the shift to 100% Dutch wind and solar electricity in 2018. The company continues efforts to phase out natural gas (Scope 1) by delivering central ATES systems for heat and cold storage. For Scope 3 emissions, RSG works with partners to reduce HVO100 fuel consumption for ground operations. The transition plan addresses the challenge that keeping emissions from outbound flights below 2005 levels by 2030 requires accelerated innovation and scaling up efforts. RSG actively participates in policy-shaping and invests in R&D for sustainable aviation fuel (SAF) and hydrogen propulsion through partnerships like the TULIPS alliance.

We have set a target to achieve carbon neutrality of our own operations by 2030 – without using carbon offsets, and to reduce the GHG intensity of our supply chain by 45 percent by 2030, from a 2019 baseline. This involves a concerted effort to transition our vehicles and vessels to run on electricity or renewable sources, procure 100 percent renewable electricity, and procure low-emission materials, among others. Our current projections tell us that we will not be able to deliver on the 2025 target to reduce GHG emissions by 55 percent by 2025, however we will continue to adapt our strategy and transition plan to stay in alignment with the Paris Agreement. To achieve this, we plan to seek a revalidation of our targets in 2025, considering our new scope of operations, which includes our offshore activities, and complying with the SBTi five-year revalidation requirement.

E1-2: Policies related to climate change mitigation and adaptation [Note: The text indicates this section exists on page 70 but the provided content appears to be cut off. Based on the table of contents, this disclosure requirement is included in the report but the full content is not visible in the provided excerpt.]

The Board of Directors has incorporated Sustainability as one of the Bank's strategic priorities and has approved the General Sustainability Policy, which defines and establishes the general principles and management and control objectives and guidelines that the Group must follow in terms of sustainable development. The General Sustainability Policy covers supporting customers in their transition toward more sustainable business models, progressively incorporating sustainability-related opportunities and risks into its strategy, business, processes and risk management, being mindful of the direct and indirect environmental and social impacts of its businesses and activities. BBVA is promoting the creation of new business around sustainability with three priority areas: Promoting the development of financial solutions and customized proposals for customers, Development of differential risk management capabilities, Implementation of control processes. BBVA has Environmental and Social Framework that aims to establish criteria for the identification, assessment and monitoring of certain activities of the following sectors: mining, agro-industry, energy, infrastructure and defense.

Danica's sustainability strategy consists of a number of climate actions and targets, which are a central element in the overall business strategy, Tryghedsrådgiverstrategien (Financial security provider strategy), effective until the end of 2024. As from 2025, this strategy will be replaced by the new business strategy, Forward 28 – Danica. In the new strategy, sustainability, including the climate targets, is one of four strategic focus areas, and the current climate targets are maintained. Danica's subsidiary Danica Ejendomme has adopted its own ESG strategy, which builds on Danica's sustainability strategy and defines climate targets and related actions specifically for the real estate portfolio. These policies and guidelines are integrated into the practical business operations by means of business procedures for the internal Danica departments involved. Danica has an annual cycle comprising all policies. Using a risk-based approach, controls are performed to check how the policies function and are implemented in the business, including the preparation of gap analyses to support compliance with legislation. Policies are approved by the Board of Directors annually, and Internal Audit monitors compliance with the policies using a risk-based approach.

Policies related to climate change described on pages 67-76. GN's climate policy is integrated into business strategy with focus on three areas: 1) Sustainable design – developing product designs that impact the experience of products, not the environment; 2) Decarbonization – reducing carbon footprint as fast as science tells us; 3) Supply chain responsibility – safeguarding human rights across full value chain. Climate considerations are embedded in product development and operations decisions.

KONE Business Continuity Management Standard sets company-wide minimum requirements on crisis and disruption preparedness and business recovery and supports KONE's resilience and adaptation to climate change. It guides to identify critical activities, impacts, risks, and mitigation actions to prevent the disruptions or recover within the set time objectives. The impactful business disruption scenarios including physical climate change are documented in business continuity plans, which include roles and responsibilities relevant to the prevention and preparedness, emergency and crisis response and business recovery of each scenario. The plans and the sufficiency and effectiveness of risk mitigations are reviewed annually at minimum, in connection with crisis and business continuity management exercises and audits. KONE's commitment to the ten principles of the United Nations (UN) Global Compact initiative are embedded in its strategy, policies, and procedures, including KONE Environmental Policy Statement which emphasizes KONE's pledge to reduce GHG emissions and minimizing the environmental impacts of its solutions through durable, energy-efficient products and maintenance offerings. KONE Executive Board reviews quarterly and Board of Directors reviews annually the progression against the environmental targets. KONE's business processes are set under the ISO standards. Of these standards, ISO 14001 Environmental management system and ISO 50001 Energy management system specifically relate to enhancing KONE's sustainability performance in climate change mitigation in its own and partners' daily operations and culture in alignment with the UN sustainable development agenda, Paris Pledge for Action climate initiative and KONE's science-based targets. Although KONE's material topics focus on the impacts of GHG emissions and energy in the value chain, KONE is also committed to reduce emissions and energy consumption in its own operations. KONE Global Facilities Policy demonstrates KONE's dedication to increasing the usage of renewable electricity at its facilities worldwide to 100% by 2030. All KONE units report renewable electricity as part of their quarterly reporting. KONE's everyday work is guided by KONE Code of Conduct alongside other company policies and guidelines. KONE's Code of Conduct requires compliance with applicable laws and regulations to maintain high environmental standards across KONE's operations, suppliers, and customers. KONE Supplier and Distributor Codes of Conduct mandate KONE's suppliers to comply with all relevant environmental laws and KONE requirements, secure necessary permits, and manage materials, energy, and emissions effectively.

MAPFRE Group maintains environmental commitments in its insurance and reinsurance underwriting business to contribute to the transition toward a low-carbon economy, reinforcing the commitment to be a net zero company by 2050.

RSG's policies related to climate change mitigation and adaptation are integrated into its sustainability strategy and Most Sustainable Airports roadmap. The company has set ambitious goals for 2030 and 2050, committed to exploring practical solutions and working collaboratively with industry partners. Climate change mitigation policies focus on reducing CO2e emissions across Scope 1, 2 and selected Scope 3 categories, with particular emphasis on transitioning to renewable energy and phasing out fossil fuel usage. For climate change adaptation, RSG policies ensure airports are resilient to changing climate conditions and extreme weather events. The company monitors greenhouse gas emissions continuously and maintains dialogue with various stakeholders to jointly define metrics and progress measures. Policies include preparing for forecasted weather events and implementing measures to ensure asset resilience while accepting certain levels of climate risk that cannot be completely mitigated.

Policies related to climate change mitigation and adaptation - New climate emission targets are defined in line with conclusive scientific evidence for our direct and indirect activities. Towards '27, Tryg will continue its efforts to contribute to a more sustainable future and create long-term value, benefiting our shareholders, customers and employees as well as society. Tryg will continue to address carbon emissions in claims handling and in its supply chain with a target of a 6% average emissions reduction per claim.

E1-3: Actions and resources in relation to climate change policies [Note: The text indicates this section exists on page 73 but the provided content appears to be cut off. Based on the table of contents, this disclosure requirement is included in the report but the full content is not visible in the provided excerpt.]

BBVA is promoting the creation of new business around sustainability through: 1. Promoting the development of financial solutions and customized proposals for customers to capture business opportunities related to sustainability. For wholesale customers, sectoral solutions are promoted based on innovation and specialized knowledge. For enterprise customers, the Group promotes simple and scalable solutions that enable potential economic savings, for example, in terms of energy efficiency or fleet renewal. For retail customers: customized digital solutions based on data analysis for the mass market, with a focus on energy savings, solutions for mobility or products for financial and social inclusion. 2. Development of differential risk management capabilities: BBVA is focused on increasing business volume by financing the reduction of its customers emissions. Specific risk frameworks have been developed to support new businesses and a plan has been defined to attract new customers based on their level of decarbonization transition. 3. Implementation of control processes: BBVA is working on defining and adapting processes to ensure operational efficiency and adequate internal controls, including solid criteria for classifying sustainable business. The amount allocated to sustainability-related projects totals 52.5 million euros in 2024. Additionally, BBVA invests in funds to support the decarbonization of the economy, which allow the bank to expand its knowledge and finance new technologies.

Climate stress testing of the investment portfolio: In the short and long term, climate change could expose the investment portfolio to a number of risks, which Danica's business and risk management system must gradually adapt to in order to mitigate climate change. In January 2024, Danica performed a climate stress test of equities and credit bonds in the investment portfolio on the basis of scenario values from the end of 2022. The climate stress test indicated that assets in the Danica Balance pension product were to some extent exposed to climate risk. Investment process: ESG and climate aspects are included in the investment process from a double materiality perspective. This supports Danica in: managing and mitigating physical risks and transition risks related to climate aspects that could have a negative impact on the return potential of the investments, reallocating investments on an ongoing basis to companies and other assets that support the green transition and have a positive return potential, reducing the negative impact of the investment portfolio on societal sustainability and climate change. Active ownership: Danica exercises active ownership with the aim of influencing and supporting portfolio companies to continuously improve their climate plans and address business-relevant climate risks and opportunities, including PAI. It does so through direct engagement, voting at general meetings and participation in various climate-focused investor associations. In 2024, climate aspects such as energy transition, CO2e emissions and climate neutrality were once again among the topics most often discussed with portfolio companies.

Actions and resources for climate policies described on pages 67-76. GN is implementing various actions including: Diversification and modernization of global manufacturing footprint; Investment in sustainable product design; Supply chain optimization for reduced emissions; Energy efficiency improvements in operations; Collaboration with suppliers on emission reductions; Development of products that enable remote work and reduce travel emissions.

KONE aims to adapt to the physical impacts of climate change by harmonizing the engineering, delivery and manufacturing structures of its existing and new products. This helps KONE to maintain and improve its resilience when the delivery chain or logistics routes may be disrupted and material or component suppliers, KONE factories, distribution centers or logistics routes for shipments need to be quickly replaced with feasible alternatives. In 2024, KONE conducted the first phase release of product harmonization which will be followed with selected component harmonization implementations in Europe and Americas in 2025. In 2024, KONE conducted simulated crisis and business continuity management exercises at some of its manufacturing facilities to ensure business continuity and to reduce the impact and likelihood of disruptions within its full delivery chain. While KONE's 10 manufacturing facilities in seven countries, multiple distribution centers and a large supplier network across the globe help to mitigate the impacts from potential disruptions in individual locations or countries, KONE aims to secure the availability of supply by implementing alternative sourcing channels, long-term agreements, and last-buy options for critical components and services. KONE also has a global property damage and business interruption insurance program in place. In terms of downstream adaptation, KONE continuously develops services, which help its customers with weather event loss prevention, stand-by maintenance during events and post-event status check and repairs. During the reporting year 2024, KONE has successfully implemented emission reduction activities by investing into the energy efficiency of KONE's solutions, increasing, and expanding the low carbon offering and engaging with suppliers to improve material efficiency in its solutions. The emissions reduction activities will be continued in 2025 and beyond to ensure KONE meets its 2030 targets. KONE focuses on decreasing Scope 1 emissions by primarily transitioning to zero and low emission vehicle fleet or no fleet. KONE's vehicle fleet accounts for approximately 95% (2023: 92%) of its Scope 1 and 2 GHG emissions. The total carbon footprint of KONE's vehicle fleet decreased by 2% compared to 2023 and decreased by 4% compared to its 2018 emissions (109,000 tCO2e). During 2024, KONE developed a comprehensive plan to reduce vehicle emissions in collaboration with its partners by for example identifying the technicians who could utilize electrical vehicles (EVs), incorporating EVs in subsidiaries local car policies, encouraging KONE employees to select low-emission vehicles and providing EV charging points. Accelerating the transition to electric vehicles is imperative to achieve KONE's 2030 reduction targets. KONE's ten global manufacturing units have reduced their net Scope 1 and 2 emissions by 83% (2023: 81%) at the end of 2024 compared to the 2018 baseline. In 2024, solar panels were used in six out of ten manufacturing units and green district heating in one manufacturing unit. All units have been purchasing 100% renewable electricity since the beginning of 2023. In 2024, KONE also increased the use of biofuels in its facilities in North America and continued to optimize energy usage in heating, ventilation, air conditioning and lighting systems in KONE's manufacturing units. KONE has also invested in manufacturing line robotics and automation to further improve both the material and energy efficiency of its manufacturing process. In addition, KONE has taken significant actions to reduce market-based Scope 2 emissions by systematically improving energy efficiency and increasing the use of renewable electricity across its facilities. KONE's total energy consumption remained stable in 2024 compared to 2023 and increased by 6% compared to 2018. During 2024 and onward, one of the major contributing emissions reduction factors is further improved energy efficiency of KONE's products. This was achieved, for instance, through an increased share of energy-efficient electrification systems and regenerative drives in ordered elevators and systematically engaging with suppliers to increase the material efficiency of KONE's solutions. KONE also collaborates with its suppliers to increase the recycled content in the materials used for KONE's products. KONE actively looks for new partners and ways of working to find alternative materials with lower embodied carbon emissions and to develop processes to reuse and recycle materials more effectively. In 2024, KONE launched KONE Energy Management feature which optimizes energy consumption of elevator groups over passenger waiting time and time to destination in off-peak hours while minimizing the waiting time and time to destination during peak hours. This results in annual energy savings in elevator groups due to optimized energy use during low-traffic periods. Additionally, KONE Service Business introduced KONE Remote Services which enables resolving issues remotely. This lowers the need for service site visits and KONE technicians driving between the sites, resulting in GHG emission reductions. KONE's offering also holds the widest range of externally assured product information in the industry, such as Environmental Product Declarations (EPD) in compliance with the EN 15804 standard, and energy efficiency documentation according to ISO 25745. In 2024, KONE published six (2023: four) EPDs and had in total 27 (2023: 21) third-party verified EPDs. Through Health Product Declarations (HPDs), KONE also provides information about the material content and associated health effects of its products, responding to a growing need for healthier living environments. By 2024, KONE holds a total of six HPDs. KONE was the first in the industry to launch a carbon neutral service offering, the KONE Care DX, in 2021. By 2024, KONE has introduced a carbon-neutral elevator and escalator and continued to expand its carbon neutral offering to further markets. In the future, KONE aims to increase the number of elevators with regenerative drive-in line with the company's ambitious emission reduction targets, thus also increasing the Taxonomy-aligned share of revenue. In 2024, KONE identified its suppliers accounting for the majority of KONE's Scope 3 emissions from purchased goods, and actively collaborates with them to reduce these emissions. This collaboration entails actions such as continuous dialogue with suppliers, emissions reporting development, emission reduction targets setting and supplier trainings. From 2025 onwards, KONE will start to measure the commitment of its suppliers in reducing their CO2 emissions. Requirements for smart and sustainable materials, solutions and buildings are increasing, presenting KONE with sustainable growth opportunities. To understand the emerging needs and technologies in sustainable, resilient urban environments and people's behavior in them, KONE actively participates in large-scale research projects and consortiums, such as Veturi, which is a four-year innovation program, co-funded with Business Finland. In this program, KONE collaborates with customers and partners to tackle climate change and urbanization challenges to create smart and sustainable cities. Internally, KONE promotes environmental and climate actions, for example, during dedicated theme days. During 2024, KONE continued to grow awareness and ownership of its environmental targets and progress. The company organized for example sustainability and climate-related information sharing and training sessions for various employee groups. KONE also responds to customers' increasing demand for sustainable products and services.

RSG has implemented numerous actions and allocated significant resources for climate change policies. In 2024, the company invested 1 billion euros in sustainability, maintenance, repair and quality improvements. A major 6 billion euro investment programme over five years was announced, focusing on high-quality and quieter operations. Specific actions include: installation of 56 additional preconditioned air units (PCAs) on airside to replace auxiliary power units; continuation of ATES system rollout with connection of office buildings planned for 2025; renovation of Pier E including replacement of gas-powered boilers; transition of ground operations from fossil diesel to HVO100 renewable fuel; collaboration through TULIPS alliance to accelerate innovative technology rollout; partnership with Rotterdam Port for sustainable aviation fuel supply chain development; and implementation of updated arrival and departure procedures to reduce emissions. The company also supports policy development and invests in R&D for SAF and hydrogen propulsion technologies.

Actions and resources in relation to climate change policies - During the current strategy period, we have expanded our offerings with products that can help our customers adapt to climate change, while maintaining our focus on minimising the use of resources in the claims handling process. A large part of Tryg's carbon emissions stem from the handling of approximately 2.2 million annual claims, and in 2024 Tryg is pleased to have reduced CO2e emissions of 27,825 tonnes in claims handling. Tryg will develop and expand practices for repairs and the recycling of materials through close collaboration with suppliers.

E1-4: Targets related to climate change mitigation and adaptation [Note: The text indicates this section exists on page 80 but the provided content appears to be cut off. Based on the table of contents, this disclosure requirement is included in the report but the full content is not visible in the provided excerpt.]

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%

BBVA has set the objective of achieving net zero emissions by 2050 with decarbonization targets for 11 high-emission sectors: Oil & Gas (upstream), Power generation, Auto (manufacturers), Steel (manufacturers), Cement (manufacturers), Coal (thermal coal mining), Aviation (airlines), Shipping (operators), Real estate (commercial), Real estate (residential), Aluminum (primary manufacturing). The geographical scope of the real estate sector's (commercial and residential) intermediate emissions reduction target for 2030 is Spain. In 2024, BBVA has published new decarbonization targets for three additional sectors, aluminum and residential and commercial real estate in Spain. Additionally, in a philanthropic realm, in 2021, BBVA set itself the goal of contributing to society, aiming to invest 550 million euros in social programs to benefit 100 million people between 2021 and 2025. BBVA Asset Management has intermediate decarbonization targets for their portfolios to 2030, framed within the Net Zero targets to 2050. The scope of these intermediate targets has been established considering the assets included, the metrics used to measure them, the initial level and the 2030 target.

Danica has set climate targets to meet the climate change mitigation strategy and to address material impacts, risks and opportunities identified through the double materiality assessment. In 2020, Danica signed up to the international investor initiative the Net-Zero Asset Owner Alliance and thus committed to achieving a net-zero investment portfolio by 2050 in alignment with the Paris Agreement. In 2021, Danica set interim 2025 CO2e reduction targets for its equity and bond investments in five sectors based on the One Earth Model and the Transition Pathway Initiative, the methodologies of which are aligned with the Paris Agreement. On the basis of this, Danica's objective is that the CO2e intensity of its equity and bond investments within the following industries is to be reduced by 2025 relative to 2019 levels: Energy: 15% (covering scope 1, 2 and 3), Utilities: 35% (covering scope 1), Steel: 20% (covering scope 1 and 2), Cement: 20% (covering scope 1), Transportation: automotive: 30% (covering scope 1 and 3), shipping: 20% (covering scope 1 and 3), aviation: 15% (covering scope 1 and 3). CO2e reduction targets have also been set for the Danish real estate portfolio relative to 2019 levels: The CO2e intensity is to be reduced by 37% by the end of 2025 and by 69% by the end of 2030. Together with the Danske Bank Group, Danica in 2023 committed to the UN-supported Science Based Targets initiative (SBTi). Presently, Danica has defined and submitted the following targets in accordance with the SBTi standards: Equity and corporate bond investments must have a temperature rating of 2.0°C by 2030 (covering scope 1 and 2) relative to a baseline of 2.5°C in 2020, Equity and corporate bond investments must have a temperature rating of 2.2°C by 2030 (covering scope 1, 2 and 3) relative to a baseline of 2.8°C in 2020, The carbon intensity in the Danish real estate portfolio is to be reduced by 69% by 2030 (scope 1, 2 and 3) relative to 2019 levels.

Climate targets described on pages 67-76. GN has set ambitious climate targets: 58% reduction in scope 1 and 2 carbon emissions vs 2021 baseline; 26% reduction in scope 3 carbon emissions vs 2021 baseline; Net-zero emissions by 2050 target in line with 1.5°C warming limit. These are science-based targets aligned with climate science requirements.

KONE's science-based targets for Scope 1 and 2 as well as Scope 3 were set in 2020, validated by the Executive Board and approved by the Board of Directors. The aim was to align KONE's emission reduction activities with the overall business strategy and financial planning. The science-based targets cover 100% of KONE's Scope 1 and market-based Scope 2 emissions and almost 99% of KONE's Scope 3 emissions (category 1: purchased goods and services and category 11: use of sold products). The science-based targets coupled with annual renewable electricity and carbon neutral operation targets form KONE's emission reduction plan and its global Climate Pledge to drive the needed emission reduction activities in both KONE's own operations and related to its products and value chain. KONE's strategy and business model are compatible with the transition to a sustainable economy, and with the limiting of global warming to 1.5 °C in line with the Paris Agreement. The science-based targets were set in collaboration with relevant internal stakeholders and global business units including R&D, Innovation and procurement. In addition, Science Based Target initiative (SBTi) standards and criteria were followed at the time in line with a cross-sector emission pathway compatible with limiting global warming to 1.5°C accounting for business growth in different geographical areas and business lines. The 2018 baseline was chosen in line with SBTi guidelines and criteria for a representative year which covered the most recent period for which the data was available at the time. SBTi has assessed and approved the targets, and the progress against the targets is externally assured annually. The emission reduction roadmap and business growth estimations are also reviewed annually to align with KONE's overall business outlook.

Hydro's target is to be a net-zero company by 2050 or earlier, delivering net-zero products and enabling a net-zero society. Based on a 2018 baseline, Hydro targets 10 percent reduction of total scope 1 and 2 greenhouse gas (GHG) emissions by 2025, and 30 percent by 2030. Net-zero by 2050 or before. Hydro also targets a 15 percent reduction in upstream scope 3 emissions by 2030 and 30 percent reduction in upstream scope 3 emissions per tonnes aluminium delivered to market by 2030.

To achieve net zero emissions by 2045, we have a roadmap to reduce scope 3 emissions by 33% by 2033, using 2024 as the baseline. This target – which covers nearly 70% of our scope 3 emissions in accordance with Science Based Targets initiative (SBTi) provisions – is aligned with climate science and has been submitted to the SBTi for validation.

RSG has established specific targets for climate change mitigation and adaptation. The primary mitigation target is CO2e emissions reduction of 65% compared to 2019 levels, achieved in 2024. The company targets net-zero carbon emissions by 2050, aligned with the 1.5°C pathway. For Dutch aviation sector collaboration, there is a shared target to keep emissions from outbound flights below 2005 levels by 2030. For climate adaptation, RSG's goal for 2025 includes researching historical data on operational disruptions due to extreme weather events and quantifying both operational and financial impacts. The company aims to quantify the financial impact of climate change on new and existing assets. Additional targets relate to transitioning to renewable energy sources, phasing out natural gas usage through ATES systems, and reducing emissions from ground operations through fleet electrification and sustainable fuel adoption.

As part of our long-term commitment to sustainability, we have set ambitious science-based targets aligned with the 1.5-degree scenario. We are also committed to achieving a 50% reduction in our Scope 3 emissions by 2030, which include indirect emissions from activities such as purchased goods and the processing of sold products.

Targets related to climate change mitigation and adaptation - New climate emission targets are defined in line with conclusive scientific evidence for our direct and indirect activities. Tryg has set a target of reducing CO2e emissions by 6% per average claim by 2027 compared to 2024. By 2024, Tryg reduced 27,825 tonnes of CO2e from its claims handling processes, exceeding the target of 20,000-25,000 tonnes.

Reduce scope 1 & 2 GHG emissions 55% by 2025 and 100% by 2030. Reduce scope 3 GHG emissions per MWh generated 45% by 2030.

E1-5: Energy consumption and mix [Note: The text indicates this section exists on page 85 but the provided content appears to be cut off. Based on the table of contents, this disclosure requirement is included in the report but the full content is not visible in the provided excerpt.]

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

Energy consumption and mix is reported under the climate reporting metrics section. The development of the portfolio's electricity consumption and changes in the energy supply mix are important factors for decarbonisation target execution. Efforts are also ongoing to make it possible to measure actual energy consumption rather than calculated consumption, which is generally a challenge for the real estate industry.

Share of renewable electricity: 35% in 2024, 21% in 2023. In 2024, we have worked with decoupling our own emissions from company growth, and due to our focus on renewable electricity, 35% of our total electricity consumption is now from renewable sources.

KONE's total energy consumption remained stable in 2024 compared to 2023 and increased by 6% compared to 2018. In addition, KONE is committed to reduce electricity consumption in its own operations and has set a target to increase the share of renewable electricity to more than 90% by the end of 2023 and to 100% by 2030. KONE has also increased the share of renewable electricity faster than originally planned by reaching 97% already in 2023. Due to this progress and systematic work in 2024, KONE set the target to increase the share of renewable electricity to 98% during 2024. In 2024, KONE reached a 99% share of renewable electricity. KONE's ten global manufacturing units have reduced their net Scope 1 and 2 emissions by 83% (2023: 81%) at the end of 2024 compared to the 2018 baseline. In 2024, solar panels were used in six out of ten manufacturing units and green district heating in one manufacturing unit. All units have been purchasing 100% renewable electricity since the beginning of 2023. In 2024, KONE also increased the use of biofuels in its facilities in North America and continued to optimize energy usage in heating, ventilation, air conditioning and lighting systems in KONE's manufacturing units.

Electricity usage (x 1,000 Gj): 0.2 (2023: 2). Sustainable electricity usage (x 1,000 Gj): 171 (2023: 171)

RSG has transitioned to 100% renewable electricity from Dutch wind and solar sources since 2018, reducing market-based Scope 2 emissions to zero. The company continues efforts to phase out natural gas usage through implementation of ATES (Aquifer Thermal Energy Storage) systems for heating and cooling. Ground operations at airports have transitioned from fossil diesel to HVO100, a renewable fuel with lower emissions. Eindhoven Airport ended its use of fossil diesel for diesel-powered equipment on 15 August 2024, switching to HVO100. Energy consumption patterns show continued focus on renewable sources and efficiency improvements through building renovations and system upgrades. The energy mix reflects RSG's commitment to decarbonisation, with ongoing projects including Pier E renovation featuring replacement of gas-powered boilers and connection of additional office buildings to central ATES systems planned for 2025.

Consumption of energy (GWh): 640 in 2024, 658 in 2023. Of which renewable energy (GWh): 214 in 2024, 213 in 2023. Of which renewable electricity (GWh): 166 in 2024, 166 in 2023. Renewable energy (%): 33% in 2024, 32% in 2023. Renewable electricity for own activities (%): 100% in 2024, 100% in 2023.

E1-6: Gross Scopes 1, 2, 3 and Total GHG emissions [Note: The text indicates this section exists on page 87 but the provided content appears to be cut off. Based on the table of contents, this disclosure requirement is included in the report but the full content is not visible in the provided excerpt.]

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

Emissions from investments - Carbon footprint of investments. Equities: Carbon emissions – Scope 1: 483,518 tonnes (2024), 581,108 tonnes (2023); Carbon emissions – Scope 2: 151,766 tonnes (2024), 141,412 tonnes (2023); Carbon emissions – Scope 3 (PCAF scores 1&2): 4,720,595 tonnes (2024), 6,298,137 tonnes (2023); Carbon emissions – Scope 1, 2 and 3: 5,355,879 tonnes (2024), 7,020,657 tonnes (2023); Carbon footprint – Scope 1: 2 tonnes/DKKm (2024), 4 tonnes/DKKm (2023); Carbon footprint – Scope 2: 1 tonnes/DKKm (2024), 1 tonnes/DKKm (2023); Carbon footprint – Scope 3 (PCAF score 1&2): 41 tonnes/DKKm (2024), 42 tonnes/DKKm (2023); Carbon footprint – Scope 1, 2 and 3: 45 tonnes/DKKm (2024), 47 tonnes/DKKm (2023). Credit bonds: Carbon emissions – Scope 1: 135,542 tonnes (2024), 184,875 tonnes (2023); Carbon emissions – Scope 2: 32,404 tonnes (2024), 32,961 tonnes (2023); Carbon emissions – Scope 3 (PCAF score 1&2): 1,245,005 tonnes (2024), 1,688,212 tonnes (2023); Carbon emissions – Scope 1, 2 and 3: 1,412,950 tonnes (2024), 1,906,048 tonnes (2023); Carbon footprint – Scope 1: 1 tonnes/DKKm (2024), 1.47 tonnes/DKKm (2023); Carbon footprint – Scope 2: 0 tonnes/DKKm (2024), 0 tonnes/DKKm (2023); Carbon footprint – Scope 3 (PCAF score 1&2): 19 tonnes/DKKm (2024), 14 tonnes/DKKm (2023); Carbon footprint – Scope 1, 2 and 3: 20 tonnes/DKKm (2024), 15 tonnes/DKKm (2023). Equities and credit bonds: Carbon emissions – Scope 1: 619,060 tonnes (2024), 765,983 tonnes (2023); Carbon emissions – Scope 2: 184,169 tonnes (2024), 174,373 tonnes (2023); Carbon emissions – Scope 1 and 2: 803,230 tonnes (2024), 940,356 tonnes (2023); Carbon emissions – Scope 3 (PCAF score 1&2): 5,965,600 tonnes (2024), 7,986,349 tonnes (2023); Carbon emissions – Scope 1, 2 and 3: 6,768,829 tonnes (2024), 8,926,705 tonnes (2023); Carbon footprint – Scope 1: 2 tonnes/DKKm (2024), 3 tonnes/DKKm (2023); Carbon footprint – Scope 2: 1 tonnes/DKKm (2024), 1 tonnes/DKKm (2023); Carbon footprint – Scope 1 and 2: 2 tonnes/DKKm (2024), 3 tonnes/DKKm (2023); Carbon footprint – Scope 3 (PCAF score 1&2): 33 tonnes/DKKm (2024), 29 tonnes/DKKm (2023); Carbon footprint – Scope 1, 2 and 3: 35 tonnes/DKKm (2024), 33 tonnes/DKKm (2023).

Scope 1 and 2 market-based GHG emissions (tonnes of CO2e): 29,426 in 2024, 33,103 in 2023, 37,136 in 2022, 34,288 in 2021, 28,454 in 2020. Scope 1 and 2 location-based GHG emissions (tonnes of CO2e): 33,686 in 2024, 33,323 in 2023, 31,224 in 2022, 29,258 in 2021, 26,376 in 2020. Scope 3 GHG emissions (tonnes of CO2e): 464,103 in 2024, 492,026 in 2023, 436,831 in 2022, 404,872 in 2021, 316,055 in 2020. 2030 target: 46% reduction in scope 1 and 2 greenhouse gas (GHG) emissions vs. 2019. The target for reduction in scope 1 and 2 GHG emissions is calculated vs. the 2019 baseline of 31,980 tonnes of CO2e.

GHG emissions performance reported showing 58% reduction in scope 1 and 2 carbon emissions vs 2021 and 26% reduction in scope 3 carbon emissions vs 2021, as highlighted on page 3.

During the reporting year 2024, KONE reached net Scope 1 and 2 emission reduction of 29% (2023: 25%) compared to its 2018 emissions of 154,700 tCO2e, exceeding the emission reduction target of -25% (2023: -21%). As described in the general information section, the environmental data includes both net and gross emissions for Scope 1 data. KONE reports net emissions for renewable natural gas, to show the total emissions reductions achieved during the reporting year. Gross emissions are visible in the table 'GHG Emissions', footnote 6. KONE focuses on decreasing Scope 1 emissions by primarily transitioning to zero and low emission vehicle fleet or no fleet. KONE's vehicle fleet accounts for approximately 95% (2023: 92%) of its Scope 1 and 2 GHG emissions. The total carbon footprint of KONE's vehicle fleet decreased by 2% compared to 2023 and decreased by 4% compared to its 2018 emissions (109,000 tCO2e). In 2024, KONE's Scope 3 (product and value chain) emissions per product ordered (62.2 tCO2e/order) decreased by 8.7% compared to 2023 (68.2 tCO2e/order) and by 12.8% compared to 2018 (71.4 tCO2e/order). KONE's absolute product and value chain emissions decreased by 8.8% compared to 2023 and 9.8% compared to 2018. KONE's Scope 3 GHG absolute emissions from its products' annual energy consumption decreased by 9.8% compared to 2023 (364,000 tCO2e) and by 15.3% compared to 2018 (387,600 tCO2e).

-38% Reduction in Scope 1 & 2 GHG emissions since 2019. 18% Increase in Scope 3 GHG emissions since 2019.

In 2024, Hydro's total scope 1 and 2 emissions were 16.1 percent lower than the 2018 climate strategy baseline, exceeding the target of 10 percent reduction compared to the baseline. The reductions in 2024 are a result of the fuel switch and electrification at the Alunorte alumina refinery as well as lower production in Aluminium Metal and Hydro Extrusions due to lower demand. Total scope 3 emissions were 12.5 tonnes. This represents a 40 percent reduction of upstream scope 3 emissions per tonnes aluminium produced compared to the 2018 baseline, surpassing the 2030 reduction target of 30 percent.

Scope 1, 2 and 3 emissions: CO2e emissions (1,000 tonnes) +23%. 2023: 1,836. 2024: 2,261. 2033 target: -33% reduction to 1,000. 2045 target: Net zero. Scope 1: Direct emissions from owned/controlled sources. Scope 2: Indirect emissions from purchased energy. Scope 3: Indirect emissions in the value chain.

By the end of 2024, we achieved a 17% reduction in emissions across our value chain compared to 2019, remaining focused on halving emissions by 2030. We also reached our short-term target of a 90% reduction in own operations, including 100% renewable electricity use. Our emissions increased by 5% from 2023 to 2024, primarily driven by the construction of our new crafting facility in Vietnam, network expansion, upgrades to our existing store fleet, as well as an increase in business travel. Our target to reach net zero by 2040 was approved by the Science Based Targets initiative (SBTi). In addition, we have been recognised with an 'A' score for transparency and performance from the Carbon Disclosure Project (CDP) in past years. Scope 1, 2 & 3 emissions: 286,198 tonnes CO2 equivalent in 2024, compared to 272,967 tonnes CO2 equivalent in 2023.

CO2e metric ton (x 1,000) scope 1: 46.9 (2023: 57.4). CO2e metric ton (x 1,000) scope 2: 0.9 (2023: 1.2). CO2e metric ton (x 1,000) scope 3: 155.9 (2023: 179.9)

RSG reports CO2e emissions across Scope 1, Scope 2 and selected Scope 3 categories. The TPI Sustainability shows -65% CO2e emissions reduction compared to 2019 levels, meeting the 2024 target. Scope 1 emissions include natural gas and fuels used by own vehicle fleet. Scope 2 emissions are zero on a market-based method due to 100% renewable electricity procurement since 2018. Selected Scope 3 items include natural gas used by third parties in buildings owned by Schiphol Commercial with their own environmental permits, airside fuels, commuter traffic and business travel by own car or aircraft. The historic overview shows significant reduction in absolute emissions even as passenger numbers recovered. Total CO2e emissions from all scopes combined demonstrate substantial progress toward the net-zero target by 2030 for own operations. Scope 3 emissions remain challenging to reduce, particularly kerosene-related emissions from aircraft operations, which require industry-wide collaboration and technological innovation.

By the end of 2024, we achieved a 53% reduction in our Scope 1 and 2 emissions from 2019. This surpasses our target of a 50% reduction by 2030 and underscores our commitment to proactive climate action. We are also committed to achieving a 50% reduction in our Scope 3 emissions by 2030. Both active measures to reduce emissions and the closure of sites and production lines contributed to a 53% decrease in Scope 1 and 2 emissions and a 39% decrease in Scope 3 emissions compared to the 2019 baseline.

Scope 1 GHG emissions (1,000 t CO2e): 104 in 2024, 108 in 2023. Scope 2 GHG emissions market-based (1,000 t CO2e): 1 in 2024, 1 in 2023. Scope 3 GHG emissions (million t CO2e): 7.99 in 2024, 7.66 in 2023. Scope 3 GHG emissions intensity (target value) (kg CO2e per MWh generated): 5.66 in 2024, 6.30 in 2023.

E1-7: GHG removals and GHG mitigation projects financed through carbon credits [Note: The text indicates this section exists on page 91 but the provided content appears to be cut off. Based on the table of contents, this disclosure requirement is included in the report but the full content is not visible in the provided excerpt.]

GHG removals and carbon credits are included in the climate reporting framework as part of Danica's climate targets and actions.

KONE compensates for direct and indirect CO2 emissions of service activities related to KONE Care DX service contracts. KONE also offers its customers the option to compensate the embodied CO2 emissions until handover of selected KONE DX elevators. In addition, after active emission reduction at all manufacturing units, KONE compensates the remaining CO2 emissions to achieve carbon neutral manufacturing units globally. KONE compensates for its emissions through a third-party partner via carbon credits. KONE has chosen projects from different continents and representing different climate benefits: reforestation in Colombia, solar power in Thailand, hydro power in China and Laos, clean cookstoves that avoid deforestation in Mali. All projects are conducted outside of the EU and are Gold Standard® certified. In addition to having a positive climate effect, the projects support other United Nations Sustainable Development Goals (UNSDG) providing social and environmental benefits to local communities. A total of 28 tCO2 equivalent outside of KONE's value chain was cancelled in the reporting period covering emissions in 2024 and 2025. KONE does not consider compensation in its science-based GHG emission reduction targets. Compensation is used only as a last measure to support KONE's customers to reach carbon neutrality.

E1-8: Internal carbon pricing scheme [Note: The text indicates this section exists on page 92 but the provided content appears to be cut off. Based on the table of contents, this disclosure requirement is included in the report but the full content is not visible in the provided excerpt.]

KONE rolled out a pilot program for an internal carbon cost

MAPFRE faces significant risks due to climate change, especially in relation to natural disasters that may increase in frequency and severity, impacting claims and the resources needed for their management. To address these risks, specialized reports and control systems are used to manage exposure to catastrophic risks, determining maximum underwriting capacities per risk and event. In 2021, MAPFRE implemented the ExpoCat tool for georeferencing and controlling catastrophic exposures, improving information management and decision-making. Additionally, the Group's reinsurer, MAPFRE RE, is responsible for placing reinsurance protections to mitigate catastrophic risks, ensuring that the Group can withstand losses without compromising its solvency. Furthermore, the increase in climate risk could potentially introduce material uncertainty in the assumptions and lead to an inaccurate assessment of insurance risk.

RSG recognises that climate change poses significant financial risks and opportunities. Extreme weather events cause disruption to airport performance, pose risks to employee and passenger health, and can cause serious damage to assets. Since the aviation network is global, RSG airports can be impacted by situations at other airports. Climate change affects flight times, delays and kerosene consumption, all with financial implications. The company's goal for 2025 includes quantifying the financial impact of climate change on new and existing assets. RSG accepts a certain level of climate risk due to inability to completely shield airports from extreme weather events. Physical risks include infrastructure damage from extreme weather, while transition risks include regulatory changes and shifting market demands. Climate-related opportunities include potential competitive advantages from early adoption of sustainable technologies and meeting evolving customer expectations for environmental responsibility. The 6 billion euro investment programme includes climate adaptation and mitigation measures to address these financial risks and opportunities.