Agfa-Gevaert

Agfa states that sustainability governance is fully integrated into its overall governance structure, detailed in the publicly available Corporate Governance Charter. The Board of Directors (BoD) is the ultimate management body responsible for Agfa's sustainability strategy and progress, and for oversight of related impacts, risks and opportunities. The BoD defines and reviews the behavior covered by the Code of Conduct, validates the sustainability strategy and materiality, and approves annual sustainability reporting. It entrusts the CEO, supported by the Executive Leadership (EL), to steer implementation of the strategy. The BoD and EL bring a diverse range of experience and expertise, described in the Corporate Governance Report on page 59, and are capable of addressing sustainability and business conduct matters. When specific sustainability expertise is needed, they draw support from teams at three levels: global (corporate strategy and company-wide initiatives), divisional (product and process strategy and sustainable solutions), and local site (local roadmaps and manufacturing environmental footprint). Details on the composition, diversity, experience, roles and responsibilities of BoD and EL members are in the Corporate Governance Statement.

In 2024 Agfa implemented an enhanced sustainability governance model with a multi-layered management approach. Cross-functional working groups of key stakeholders and business process owners were established, each focused on a function linked to ESG, namely Risk, Sustainability, Finance and Information Technology. These groups report quarterly to the ESG Committee, which provides quarterly updates to the Executive Leadership (EL) and the Board of Directors (BoD). The ESG Committee assists the BoD in overseeing ESG strategy, targets and practices, monitors effectiveness and integration into business plans, supports compliance with ESG regulations, and maintains communication with the EL and Audit Committee. The Corporate Sustainability Office, led by the Head of Sustainability, coordinates the daily roll-out of activities and ensures escalation to the Head of Sustainability and EL on material impacts, risks and opportunities. Since 2022 the Head of Sustainability, an EL member, reports quarterly to the EL and BoD. Since 2023 a Core Team for Product and Process Sustainability, a multidisciplinary advisory body, meets monthly. The list of material IROs addressed in 2024 derives from the materiality assessment on page 232.

Remuneration for the Board of Directors is based on fixed pay, detailed in the Remuneration Report. All employees at management level (except sales or service staff linked to specific incentive plans) participate in Agfa's Global Bonus Plan, which reflects collective and individual performance over one year, comparing Group and divisional results against objectives with an individual multiplier. The plan design is proposed by the Executive Leadership and approved by the BoD, with the funding ratio based on targeted EBITDA. Since 2022, achieving ESG objectives has been a performance driver; initially only senior leaders in management grades 1 and 2, extended in 2023 to all Global Bonus Plan employees (except HealthCare IT management level), and in 2024 further expanded to all employees under the plan regardless of grade or business organization. ESG accounts for 10% to 20% of the Group's overall performance results. Depending on the number of ESG goals at target, ESG payout can vary between 0% and 150%, with each goal weighted equally. ESG goals are validated by the BoD and based on five priority SDGs: gender parity and DEI (SDG 5), Health and Safety (SDG 3), climate action (SDG 13), sustainable innovation (SDG 9) and global sustainability performance (SDG 12).

Agfa describes sustainability due diligence as the process of identifying, assessing and addressing the environmental, social and governance actual and potential impacts, risks and opportunities associated with its own operations, value chains and stakeholders. The core elements of this due diligence process form the foundation of Agfa's double materiality assessment, described on page 235, and are embedded from there into its governance, strategy and business model. A mapping table cross-references the core due diligence elements to sections of the annual report: embedding due diligence in governance, strategy and business model (Governance information from page 291, Corporate Governance report from page 59); engaging with affected stakeholders in all key steps; identifying and assessing adverse impacts (Risk Management and internal controls section from page 73); taking actions to address those adverse impacts; and tracking the effectiveness of these efforts and communicating, with references to the General information, Environmental, Social and Governance information sections.

Agfa states that ESG reporting is exposed to the risk of material misstatement due to factors such as the complexity of data collection, reliance on human-computed third-party information and evolving reporting standards. In 2024, as part of its Enterprise Risk Management system and internal controls framework (page 73), significant resources were dedicated to mapping these risks and designing an enhanced internal control framework. It was implemented in three phases: gaining a structured overview of ESG data sources and assessing data and technology readiness; designing the framework, including a target operating model and ESG internal control design; and equipping the reporting team with tools, knowledge and training. In parallel, the ESG module of Agfa's financial reporting tool was implemented to automate data validation and reduce human error. Findings were reported to and approved by the ESG Committee, resulting in enhanced cross-departmental collaboration and new roles for ESG reporting. Agfa notes the short to medium term priority is to further mature the framework, especially for the sites subject to the scope limitation described in BP-1 (environmental data limited to primary Belgian chemical sites), while longer term focus shifts to deeper system integration.

Agfa develops, produces and distributes analog and digital imaging systems and IT solutions, mainly for the printing industry and healthcare sector plus specific industrial applications, through three divisions: Healthcare IT (medical advanced imaging IT software and related services), Radiology Solutions (X-ray and hardcopy film, printers, digital radiography and image processing software) and Digital Print and Chemicals (inkjet printing solutions, membranes for industrial green hydrogen production, films, coated products and chemicals). All three are classified under ESRS Sector 'Others' and are relevant to Agfa's sustainability matters. Agfa's sustainability-related goal is Progress in sustainability towards next generation products, focusing on Green Hydrogen Solutions and the transition to digital solutions; this goal has not yet been translated into specific quantitative targets. Total headcount at period end was 4,765 employees: Europe 3,294, North America 775, Latin America 189, Asia Pacific 442, Middle East and Africa 65. Belgium hosts a major R&D center and Agfa's largest manufacturing plant with chemicals production; other plants are in China, Germany, the USA, the UK and Canada. Upstream the value chain depends on key suppliers of chemical raw materials, components and IT; downstream Agfa operates B2B in more than 30 countries, with agents elsewhere, plus end-users, consumers and patients.

Agfa states that stakeholder engagement is a key process to do business responsibly and sustainably, providing input to define strategy and business model. Engagement channels and levels depend on the topics at stake and vary over time. The interests and views of key stakeholder groups have recently been considered, directly or indirectly, in Agfa's double materiality assessment (page 232), and when relevant are communicated to the Executive Leadership and Board of Directors for strategic consideration. The groups described are: own workforce (via intranet, newsletters, training, engagement surveys, whistleblower channels, performance reviews, CEO breakfast and lunch sessions, quarterly Agfa Connect sessions, works councils and a European Works Council, and Employee Resource Groups); financial markets (shareholders, analysts and investors, coordinated by Investor Relations, with quarterly results, investor events, roadshows and shareholder meetings); suppliers (coordinated by Purchasing through contracts, meetings, quarterly scorecards and annual surveys); customers, distributors and end-users (coordinated by each division through tenders, trade shows, surveys, beta customers and advisory boards); local communities (meetings, a representative on the city Environment Council in Belgium, a toll-free line for nuisances, and STEM outreach); and market peers, academia and policy makers (research projects, industry associations and public fora).

Agfa presents the material impacts, risks and opportunities resulting from its materiality assessment. Material topical standards and their sub-topics are: E1 Climate change (GHG emissions, energy consumption and mix, and the entity-specific topic Innovation and investments); E2 Pollution (pollution of air, substances of concern including SVHC); E3 Water (water and waste water management); E5 Resource use and circular economy (resource inflows, resource outflows, waste); S1 Own workforce (working conditions, occupational health and safety, diversity and equality, training and skills development); S4 Consumers and end-users (information-related impacts, personal safety of consumers and end-users); and G1 Business conduct (protection of whistle-blowers, corruption and bribery, management of supplier relationships including payment practices). Materiality ratings range across High and Significant for impact and financial materiality, with each IRO classed as negative or positive impact, risk or opportunity. IROs are mapped to value chain origin, divisions (DPC, RSD, HE IT), actual or potential status, and time horizon. A climate risk assessment identified physical and transition risks and opportunities with resilience analysis. Agfa states no significant change to its strategy has been made or planned and all topics are treated with equal importance; financial effects are challenging to fully quantify.

Agfa carried out a first materiality assessment in 2019, reviewed in 2021, and in 2023 updated it to the double materiality approach under the CSRD and ESRS, assessing financial materiality and impact materiality across own operations and the upstream and downstream value chain. The Double Materiality Assessment was coordinated by the Corporate Sustainability Office, supported by Internal Audit and Corporate Risk, in stages: preparation (starting from ESRS 1 AR 16 sustainability matters, prior reported topics and MSCI's ESG Industry Materiality Map, yielding 33 potential topics and stakeholder and value chain mapping); impact materiality (scoring severity and likelihood, severity only for human rights impacts); financial materiality (assessing financial effect and time frame); consolidation (weighting internal stakeholders 60%, with sector federations and UNEP tool 20% each for impact, and peers 10% and customers 30% for financial); and validation via an Executive Leadership workshop using a 60% threshold. In 2024 the ESG Committee reviewed topics rated 40% to 60%, reclassifying six as material. A 2024 climate risk assessment confirmed E1 and E3 topics using RCP2.6/SSP1-2.6, RCP6/SSP3-7.0, RCP8.5/SSP5-8.5 and NGFS scenarios. Agfa notes environmental data is limited to its primary Belgian chemical sites, the scope limitation described in BP-1.

Agfa provides a content index summarizing the ESRS Disclosure Requirements complied with in preparing the sustainability statement, following the outcome of its materiality assessment. The index lists ESRS 2 general disclosures with page references: BP-1 General basis for preparation (page 221), BP-2 Disclosures in relation to specific circumstances (page 222), GOV-1 (page 224), GOV-2 (page 224), GOV-3 (page 225), GOV-4 Statement on due diligence (page 226), GOV-5 Risk management and internal controls over sustainability reporting (page 227), SBM-1 Strategy, business model and value chains (page 228), SBM-2 Interests and views of stakeholders (page 229), SBM-3 Material impacts, risks and opportunities (page 232), IRO-1 (page 235) and IRO-2 (page 238). The index continues with the topical standards found material, namely E1 Climate change, E2 Pollution, E3 Water, E5 Resource use and circular economy, S1 Own workforce, S4 Consumers and end-users and G1 Business conduct. Only ESRS data points identified as material and mandatory under the ESRS are reported, and Agfa follows the recommendation to phase in disclosure for material data points listed in Appendix C of ESRS 1.

Agfa states it is not excluded from the EU Paris-aligned Benchmarks and has developed a transition plan for climate change mitigation as part of its annual sustainability strategy, validated by the Executive Leadership and the Board of Directors. The plan is primarily driven by a carbon reduction strategy targeting Scope 1 and 2 GHG emissions at Agfa's Belgian sites, the Group's main emitter due to its manufacturing operations. Aligned with the revised Fit for 55 package under the EU Green Deal and applicable to its EU ETS-covered Mortsel sites, Agfa aims to cut combined Scope 1 and 2 GHG emissions by 62% by 2030 using 2006 as the base year for its Belgian sites. In the short term the target will be adapted to integrate Scope 3 emissions for submission to the Science Based Targets initiative (SBTi). Most Scope 1 and 2 reductions depend on a reinvestment plan in Belgian energy production, including a new industrial heat pump, mechanical vapor compression and electrical boiler installed from 2024 through 2025.

Agfa's climate policies sit within its Corporate Governance Charter, for which the Board of Directors holds ultimate accountability, and include the Safety, Health, and Environmental Policy and the Energy Policy addressing climate change and energy efficiency. The Environmental Policy is founded on giving comprehensive environmental protection the same priority as product quality and commercial efficiency, ensuring products are designed, developed and manufactured to minimize impact across their lifecycle, covering production, transportation, storage, usage and waste treatment. The Energy Policy reflects a commitment to improving energy efficiency and reducing CO2 emissions across operational management; it does not explicitly address renewable energy deployment but mandates early assessment of environmental and energy aspects in project development using best available techniques and economically viable practices, with energy efficiency treated as a key procurement factor. These principles are integrated into the Group Sustainability Management Policy, endorsed by the Corporate Sustainability Office, and the Supplier Code of Conduct under the Purchasing Department, expressing willingness to work with suppliers reducing their carbon footprint. Both policies are publicly available.

Agfa's actions focus on energy efficiency, sustainable mobility and value chain engagement. Its Belgian sites have long used a Combined Heat and Power (CHP) system delivering about 30% primary energy saving, an annual reduction of 105,000 MWh of gas and 7,500 MWh of electricity. To reduce gas dependency, Agfa invested in three new energy assets in Belgium: an industrial heat pump generating hot water from waste heat, a mechanical vapor compression system converting hot water into steam, and an electrical boiler (operational since end of 2024) generating steam during electricity surplus, with full completion expected in 2025. Together these initiatives are expected to reduce Agfa's Scope 1 CO2 emissions by 17,000 tons. Further measures include compressed air leak inspections, steam loss reduction, machinery upgrades, LED replacement and exploring expanded photovoltaic solar. Sustainable mobility actions include a car policy excluding vehicles above 120 g/km CO2 (WLTP), promoting EVs and PHEVs, and 131 charging stations installed at Belgian sites. Value chain engagement covers supplier engagement, improving Scope 3 data quality, and the Warmte Verzilverd residual heat project supplying over 300 households.

Agfa has set qualitative climate targets within its annual corporate sustainability strategy, linked in 2024 to timely installation of new energy assets and exploring GHG reductions through solar expansion, plus adopting internal methodologies to account for and publicly report Scope 3 emissions for the first time. Its quantitative target, set in 2023, is a 62% reduction in combined Scope 1 and 2 GHG emissions by 2030 against a 2006 baseline for Belgian sites, following the revised Fit for 55 package and Paris Agreement climate targets. 2006 was used as baseline because reliable 2005 Scope 2 data was unavailable. Emission reduction targets currently cover only Scopes 1 and 2. Targets are defined by the Corporate Sustainability Office with the Belgian Processes Energy and Mechanics team and approved by Executive Leadership and the Board; no external stakeholders are involved. For Belgian sites, combined Scope 1 and 2 GHG emissions (location-based) fell from 160,066 tCO2eq in 2006 to 61,058 tCO2eq in 2024, a 62% reduction against a 60,825 tCO2eq target. Agfa notes comparability is affected by reorganizations, including the 2023 divestment of Agfa Offset Solutions. Validation submission to SBTi is planned for 2025.

Agfa falls under NACE code 2059, a high climate impact sector. Its energy metrics are subject to scope limitations, including only Agfa's Belgian sites as the primary drivers of its environmental footprint and excluding other organizations focused on sub-assembly, R&D, sales and services. Electricity origin is estimated from energy contract percentages. For 2024, total energy consumption was 335,970 MWh. Fossil energy consumption totaled 319,198 MWh (95.0% of total), dominated by natural gas at 309,273 MWh, plus 341 MWh from other fossil sources and 9,584 MWh of purchased electricity, heat, steam or cooling from fossil sources; coal and crude oil/petroleum consumption were both 0. Nuclear consumption was 16,006 MWh (4.8%). Renewable energy consumption totaled 766 MWh (0.2%), entirely from self-generated non-fuel renewable energy. Energy production totaled 74,836 MWh (74,070 MWh non-renewable, 766 MWh renewable). Total net revenue was 1,138 million euro, giving energy intensity of 295.2 MWh per million euro from high climate impact activities. The auditor issued a Qualified conclusion on limited assurance because this information is limited to Belgian sites and may be materially misstated.

Agfa's Scope 1 and 2 GHG metrics are subject to scope limitations, covering only Belgian sites and excluding other organizations; Scope 3 emissions are unaffected and cover the whole Group. For 2024, gross Scope 1 GHG emissions were 57,210 tCO2eq, with 94.5% from regulated emission trading schemes. Gross location-based Scope 2 emissions were 3,848 tCO2eq and market-based 3,671 tCO2eq. Total gross Scope 3 emissions were 603,611 tCO2eq, with the largest categories being end-of-life treatment of sold products (354,104), purchased goods and services (130,265), use of sold products (64,223), upstream transportation and distribution (15,075) and fuel and energy-related activities (13,130). Total Scopes 1, 2 and 3 GHG emissions were 664,669 tCO2eq location-based and 664,492 tCO2eq market-based. GHG intensity per net revenue (1,138 million euro) was 584.1 tCO2eq/million euro location-based and 583.9 market-based. The auditor issued a Qualified conclusion on limited assurance because the Scope 1 and 2 information is limited to Agfa's Belgian sites and may be materially misstated, an amount it could not quantify.

Agfa's pollution materiality covers both pollution of air and the management of substances of concern (SoC), including substances of very high concern (SVHC). Its commitment to safe management of processes and resources is articulated in the publicly available Corporate Governance Charter, with ultimate accountability resting with the Board of Directors. The Charter sets out the Safety, Health, and Environmental Policy, giving environmental protection the same priority as product quality and commercial efficiency, and requiring products to be designed to minimize environmental impact across their full lifecycle. These principles are integrated into the Group Sustainability Management Policy (endorsed by the Corporate Sustainability Office) and the Sustainable Procurement Policy, cascading to the upstream value chain via General Purchasing Conditions and the Supplier Code of Conduct. Agfa's Product Safety and Regulatory Affairs Department maintains a corporate policy on Carcinogenic, Mutagenic and Reprotoxic (CMR) substances: products contain no CMR category 1A or 1B substances at market introduction, and CMR category 2 substances are only used if a technical assessment finds their use unavoidable and safe. Agfa commits to ISO 14001 guidelines, especially at certified sites.

Emissions to air beyond GHG are managed alongside climate mitigation, so the actions in E1-3 also mitigate air emissions here. Agfa continuously works to reduce and optimize the use of installations containing harmful substances and to raise its solvent recovery rate through improved practices and process optimization. It focuses on measurement accuracy, for example by automating solvent balance tracking, using certified technicians following parameter-dependent standards, or outsourcing to accredited laboratories. These actions apply primarily to Agfa's sites in Belgium, where most (if not all) emissions to air occur. For chemical management, a Rationalization Committee of Chemicals (RCC) of managers appointed by affected business units meets quarterly to align on substitution strategy and compliance. The RCC focuses on CMR chemicals, REACH, CLP hazards, Persistent Organic Pollutants (POP) and SVHC, customers' own restriction lists, and eco-labelling criteria (e.g. Nordic Swan, EU Ecolabel). Implementation requires significant operational expenditure integrated into R&D expenses (page 306), expected to remain stable. Upstream inputs are gathered by Purchasing via annual supplier questionnaires; downstream, product safety information is shared through Safety Data Sheets.

Agfa has not established specific outcome-oriented targets for pollution. It remains committed to preventing and closely monitoring emissions to air and the use of harmful substances, including those of (very high) concern, and to ensuring compliance with local regulations and applicable emission limits. Given the already very strict regulatory framework, there are currently no plans to develop specific pollution targets. The effectiveness of its policies and actions is tracked through processes aligned and compliant, where relevant, with ISO 14001 environmental management system guidelines, which are regularly audited by an external party. Additionally, Agfa is required to report to the local environmental authority the number of incidents, specifically any exceedance of emission limit values observed during emission measurements, and strives to keep such occurrences to a minimum.

Pollution of water and soil is not material for Agfa, so this covers air only. The air emissions metrics are subject to scope limitations: they include only Agfa's sites in Belgium, considered the primary drivers of the global environmental footprint due to their manufacturing activities, while other organizations (sub-assembly, R&D, sales and services without manufacturing) are excluded. Air emissions with adverse effects on climate, ecosystems and air quality, excluding CO2, decreased 5.6% in 2024 versus the prior year, adding to a 16.60% reduction in 2023, driven mainly by lower NOx from natural gas consumption. VOC emissions did not decrease, rising 4.9% in 2024 (after a 19.4% reduction in 2023). Reported emissions to air for 2024 (tonnes): Nitrogen oxides (NOx, as NO2) 58.8; Sulfur dioxide (SO2) 1.7; Volatile Organic Compounds (VOC) 23.2; Volatile Inorganic Compounds (VIC) none; Total 83.7. NOx and SO2 are calculated from installation operating hours and measurements per Vlarem II (Flanders); VOCs use a validated solvent accounting model authorized under the environmental permit. VICs are not emitted by Agfa.

Agfa reports substances of concern and of very high concern by CLP/GHS hazard class in four categories: amounts generated or used during production or procured, and amounts leaving facilities as emissions or as products. Metrics for substances of (very high) concern that leave facilities as emissions are subject to scope limitations, covering only Agfa's sites in Belgium (other organizations excluded); no scope limitation applies to substances generated, used, procured, or leaving as products, which are covered in full for the entire Group. Amounts are reported in kilograms across hazard classes including H317, H334, H340, H341, H350, H351, H360, H361, H370, H371, H372, H373, H410, H411, H412 and H413. For example, H317 shows 515,037 kg generated or used/procured, 61,424 kg of very high concern generated or used/procured, 7,831,735 kg leaving as products, and 4,614,358 kg of very high concern leaving as products. H360 shows 96,094 kg, 93,508 kg, 4,686,991 kg and 5,070,553 kg respectively. Consumables, packaging and equipment are treated as articles, so only SVHC and POP Regulations apply; the SVHC reporting threshold is set at 0.1%w, below which concentrations are treated as negligible.

Marine resources are not material for Agfa; this covers water only. The double materiality assessment highlights the negative impact of water consumption and efficiency, particularly in water-scarce regions such as Flanders, Belgium, where Agfa's sites contribute most of the Group's water use (mainly process and cooling water). Conserving natural resources and water management, encompassing use and sourcing of water in own operations, water treatment toward more sustainable sourcing, and prevention and abatement of water pollution, plus a commitment to reducing material water consumption in areas at water risk within own operations (Agfa's Belgian sites) and along the value chain, are embedded in the Corporate Governance Charter under the Safety, Health, and Environment Policy. The Board of Directors holds ultimate responsibility for implementing this charter. The policy, available on Agfa's website and applicable to all Group entities including employees, consultants and contracting parties, prioritizes environmental protection equally with product quality and commercial efficiency. These principles are also integrated into the Group Sustainability Management Policy endorsed by the Corporate Sustainability Office. Agfa commits to ISO 14001 guidelines, especially at certified sites.

Aligned with the Flemish Blue Deal, a regional response to the European Green Deal, Agfa developed a "Water Challenge" project at its Belgian sites. The project maps water-saving potential and defines a three-step action plan on the principles of "reduce, replace, reuse." Executed across 2024 and 2025, it includes a water-saving awareness campaign focused on behavioral change and addresses process optimization and technology improvements, aiming to identify where high-quality water is unnecessary, assess water-intensive processes, and explore grey water options. To mitigate water impacts, Agfa uses its on-site waste water treatment installation and a granular activated carbon (GAC) filtering system to pre-treat production waste water before discharge into the public cycle; financial resources are linked to Taxonomy activity CCM 5.3. Reuse of water in operations before discharge is encouraged where technologically possible. Until 2021 a biological water purification system operated at the Mortsel head office to reuse effluent as washing or cooling water; the reverse osmosis installation was decommissioned to prioritize active removal of PFAS from waste water in line with the environmental permit and remediation of historical pollution. PFAS removal is a priority within Agfa's Environmental Policy, reflected in Taxonomy activity PPC 2.4.

Agfa is committed to minimizing water-related impacts, particularly in water-stressed regions, prioritizing reduced water usage, lower water discharge, and decreased pollutant loads as much as possible in strict compliance with regulatory requirements. Given the already stringent regulatory framework, Agfa has not established additional specific targets for water. The effectiveness of these actions is monitored through processes implemented to be aligned and compliant, where relevant, with ISO 14001 environmental management system guidelines, with regular external audits to ensure compliance and continuous improvement.

Water metrics are subject to scope limitations, including only Agfa's sites in Belgium, considered the primary drivers of the global environmental footprint due to their manufacturing activities; other organizations (sub-assembly, R&D, sales and services without manufacturing) are excluded. Water consumption performance at Agfa's Belgian sites for 2024: Total water consumption 547,396 m3; in areas of high-water risk 61,299 m3; in other areas at water risk 0 m3; in other areas 486,097 m3; total water recycled and reused 0 m3; total water stored 4,712 m3; change in storage versus 2023 -1.3%. Areas of potential water scarcity were determined using the Water Risk Atlas. Water intensity per net revenue: total net revenue of 1,138 million euro gives a water intensity of 481.0 m3 per million euro. Water consumption is monitored on-site and confirmed through verification of water supplier invoices; intake is measured with a calibrated meter, with manual readings as additional control. At the Mortsel site, storage level and water conductivity are monitored, with an automated metering system continuously monitoring intake.

Agfa's Health & Safety policy, detailed in the Corporate Governance Charter, underpins its commitment to conserving natural resources and minimizing its environmental footprint. The policy does not explicitly mandate a transition away from virgin resources, nor prescribe specific increases in secondary (recycled) resources or sustainable sourcing of renewable resources. It emphasizes equal priority for environmental protection, product quality, and operational efficiency, and advocates product stewardship covering the full product lifecycle: safe design, responsible production, and waste management. The policy's scope covers all Agfa operations, with the Board of Directors as owner holding ultimate accountability for implementation. Its principles are integrated across other key policies to coordinate resource-use and circular-economy management, including the Corporate Safety, Health and Environment Policy (Product Safety & Regulatory Affairs Department) and the Group Sustainability Management Policy (Corporate Sustainability Office). The Sustainable Procurement Policy, led by Purchasing, guides resource inflows and extends principles to third-party suppliers upstream, reinforced by the General Purchasing Conditions requiring supplier compliance with environmental, health and safety requirements.

As a manufacturer of polyester-based films, plastic is a significant resource for Agfa. The company acts in two ways: developing new technologies and partnerships to transform waste into value, and building a market for secondary raw materials by incorporating recycled content. Polyester production waste and used polyester returned by customers are recycled into shreds and reused. A twin-screw extruder at the Mortsel, Belgium site enables reuse of up to 1,250 tonnes of PET per year, so Agfa film consists of 60% new PET and 40% recycled PET. In SYNAPS production, waste and post-consumer trimmings are recycled to rPET; the end product contains 15% rPET, certified in 2024 by RecyClass. Silver and phosphor are recuperated and internally recycled as much as possible. These actions link to EU Taxonomy activities CCM 5.9 and CE 2.4, while worldwide servicing, spare parts and repair map to CE 4.1, CE 5.1 and CE 5.2, extending equipment lifetime. Agfa reduces waste by mapping sources, prioritizing prevention, then internal reuse, sale to third parties, energy recovery, and landfill as a last resort.

Agfa, currently in a transformation phase, has not yet established explicit, measurable, outcome-oriented targets for resource inflows or product/material outflows. Given the diversity of its business activities, setting such targets would require further elaboration for each business segment, with some segments already taking initial steps based on their maturity and strategic relevance. In the interim, the effectiveness of policies and actions is monitored from a qualitative perspective, drawing on feedback from internal stakeholders and customer engagement. For waste management specifically, Agfa follows a continuous improvement trajectory for recycling, guided by voluntarily defined practices with clear internal milestones. This approach is reinforced and validated by processes designed to ensure compliance with ISO 14001 guidelines for relevant sites, supporting robust environmental management and progress.

Agfa's material inflows, used in its own operations and throughout its upstream value chain, comprise resources for internal use (IT devices, equipment, vehicles), materials directly used in production as part of the bill of materials, their packaging, and process materials, primarily CapEx equipment. For the entire Group in 2024, the total weight of products and technical materials used was 41,718 tonnes, including 2,117 tonnes (5.1%) of secondary used or recycled materials and components. No biological material was used during the reporting period. Metrics were calculated using manual data collection, analysis of transaction, product and component master data in Agfa's ERP systems, and other internal databases. To determine sustainably sourced and recycled or reused percentages, surveys gathered primary supplier information, covering suppliers accounting for the top 70% of total spend from January to April 2024. Further extrapolations were applied, including the Pareto rule for packaging (top 80% of spend). Operational (full service) leased cars starting in the period were included; rental cars were excluded. A few minor entities lacking ERP data were excluded, with minimal impact on total weight.

Agfa's production processes generate key products and materials alongside digital software solutions. These include equipment such as large-format printers and radiology X-ray systems, polyester film-based products like SYNAPS synthetic paper and ZIRFON membranes, and chemical products such as printing inks. While actual durability may be longer, especially for equipment with a second-hand market, expected durability is estimated at seven to ten years under prescribed operating conditions, based on typical service life that generally aligns with the industry average. For ZIRFON membranes, no industry average can be considered because the sector emerged relatively recently. Agfa enhances repairability through worldwide (remote) servicing, providing maintenance, spare parts and support, thereby extending product lifespans. Exact rates of recyclable content in products and packaging are not yet available, but they are estimated to be relatively high, around 85% for equipment, due to the significant use of steel and plastic in their assembly.

Agfa's key waste streams include photographic film waste, PET waste, organic solvent waste, chemically contaminated waste water, bio sludge, paper and cardboard waste, and residual waste. In 2024, the total amount of waste generated was 8,307 tonnes, of which 3,627 tonnes (43.7%) was non-recycled waste. Hazardous waste totaled 3,326 tonnes and radioactive waste was 0. Waste diverted from disposal comprised recycling of 1,165 tonnes hazardous and 3,515 tonnes non-hazardous, and other recovery operations of 878 tonnes hazardous and 1,333 tonnes non-hazardous, with no preparation for reuse. Waste directed to disposal comprised incineration of 1,280 tonnes hazardous and 17 tonnes non-hazardous, landfill of 2 tonnes hazardous and 0 non-hazardous, and other disposal of 6 tonnes hazardous and 111 tonnes non-hazardous. These waste metrics are subject to a scope limitation: they cover only Agfa's Belgian sites, the Group's primary waste emitters and its only sites with chemical activities, while other organizations focused on sub-assembly, R&D, sales and services are excluded. The independent auditor issued a qualified conclusion on the limited assurance engagement because this environmental information (E5 resource outflows / waste) was limited to the Belgian sites and could be materially misstated.

Agfa relies on global and local policies to manage its workforce. At global level the Corporate Governance Charter, including the Code of Conduct, sets minimum requirements on three material topics. Equal treatment and opportunities: a policy of equal employment opportunities commits that employees are selected, hired, trained, promoted and compensated on ability, qualifications and performance without discrimination on race, color, religion, political belief, sex, age or national origin, and prohibits harassment and disability discrimination. Working conditions: a Remuneration Policy for the Board and Executive Leadership plus a Global Compensation Policy for the general workforce, owned by the Chief Human Resources Officer with Remuneration Committee oversight. Health and safety: a Safety, Health and Environment policy committing to safe operations. A separate DEI policy endorsed by Executive Leadership commits to zero tolerance of discrimination, gender equality, ethnic diversity, LGBTI support and inclusion of people with disabilities. A Group Sustainability Management Policy and Learning and Development policy also apply. Agfa commits to the UN Guiding Principles, ILO Declaration and OECD Guidelines. Working-time and work-life-balance matters are covered by local HR policies.

Agfa states that the information related to this disclosure on processes for engaging with its own workforce and workers' representatives about impacts has been provided in the sections of the Sustainability Statement covering ESRS 2 SBM-2 and S1-3. No further stand-alone detail is given under this specific disclosure heading, which cross-references those other sections for the engagement processes.

Agfa has implemented several channels for its workforce to raise concerns. These include grievance mechanisms such as whistle-blowing arrangements (detailed on page 291), plus the possibility to raise concerns directly to hierarchy, local hotlines, trade unions, works councils or employee representatives, the Group Compliance Office and, in Belgium, the company medical service. Complaints and questions are handled systematically and confidentially, with specialized independent support appointed for specific Code of Conduct topics. In Belgium a psychosocial risk management system, accessible via the intranet, assists employees reporting abuse, harassment, inappropriate sexual behavior or discrimination, offering a designated internal trust advisor and informal or formal psychosocial intervention through an external third-party provider. A psychosocial risk analysis is conducted every five years by an external provider surveying a representative sample of the Belgian workforce on well-being indicators such as motivation, stress and work-life balance. The company-wide annual engagement survey had a 66% participation rate and generated over 8,500 individual comments in 2024, used to identify and address undesirable behavior and evaluate process effectiveness.

Agfa structures its diversity and equality approach around five pillars: EMBED (translating DEI objectives into team goals with a non-discriminatory remuneration policy), EMPOWER, ATTRACT (inclusive hiring language and diverse channels), SPONSOR and SHARE. A Global DEI Council launched in 2022 embeds DEI into KPIs and is the accountable body for inclusion. Three Employee Resource Groups are led by three ERG leads and supported by 30 participating employees, each with an Executive Leadership sponsor: EMBRACE (ethnically diverse employees), Equal Gender Opportunity (EGO) and Generations Working Together (GWT). Agfa uses the number of implemented ideas as a barometer of DEI effectiveness. On contractual conditions, Agfa benchmarks global compensation positioning against Korn Ferry/Hay Group market reference salaries using the Hay Methodology (knowledge, problem solving, accountability). Salary increases are reviewed in the annual Global Merit Review, complemented by an ad hoc social-secretariat check on local minimum wage compliance. Agfa will transition to the Willis Towers Watson Global Grading System. On health and safety, Agfa applies minimum safety measures, observation rounds, the 6-S methodology, root-cause analysis, and site programs including Mortsel's Safety High Five, SafeStart and Brain-Based Safety initiatives.

DEI and gender parity are integrated into Agfa's annual sustainability goals, proposed by the Sustainability Office, validated by the Board of Directors and reported quarterly. Agfa refined its gender approach to combine three elements: actual recruitment gender mix, external market representation by functional area, and a pre-defined ambition level. Its target is for total recruitment intake each year to exceed the market representation of the underrepresented gender by 5% across relevant recruitment areas (G&A, Logistics and Supply Chain, Manufacturing, R&D, Sales, Service), using Statbel and EGRI baseline data. In 2024 women were the underrepresented gender with a target of 61 woman recruitments; both the recruitment and gender parity targets were successfully achieved in 2024. For remuneration, Agfa commits to paying a living wage worldwide, aiming for 100% of employees earning above the minimum wage, though it has no specific time-bound competitive-remuneration target. On health and safety, a target set in 2019 aims to reduce accidents with at least one lost workday by 50% by 2025 from a 2019 baseline of maximum 34 accidents to a 2025 target of maximum 17. The 2024 milestone was maximum 24; actual 2024 results were 26 accidents, missing the milestone. Training targets are not yet established.

No scope limitation applies; the entire Group is covered, with employees reported in headcount at period end. Total employees were 4,765, down from 5,026 in 2023 due to business-environment adjustments. By gender: 3,699 male, 1,066 female, 0 other, 0 not reported. By country (where Agfa has at least 50 employees): Belgium 2,181 (46%), United States 493 (10%), Germany 317 (7%), Canada 282 (6%), United Kingdom 252 (5%), China 246 (5%), Poland 127 (3%), Italy 127 (3%), India 76 (2%), Spain 69 (1%), Australia 60 (1%), Austria 51 (1%). By contract type and gender: 4,741 permanent employees (1,055 female, 3,686 male) and 24 temporary employees (11 female, 13 male), with 0 non-guaranteed-hours employees. Temporary employees represent a very limited 0.5% of the workforce. Employee turnover: 502 employees left Agfa in 2024, a turnover rate of 10.5%, calculated as leavers divided by end-of-period headcount, including voluntary leavers, dismissals, retirements and deaths in service but excluding internal transfers.

Employee numbers are reported in headcount at period end. Gender distribution at management level: the Board of Directors comprises 2 women (29%) and 5 men (71%); top management at Management Levels 0 and 1 comprises 4 women (24%) and 13 men (76%); top management at Management Level 2 comprises 5 women (13%) and 34 men (87%). Management levels 0, 1 and 2 typically represent the Executive Leadership and their direct reports. All these categories show 0 employees in the other and not-disclosed columns. Employee distribution by age group: 304 employees under 30 years old, 2,032 employees aged 30 to 50 years old, and 2,429 employees over 50 years old. Agfa notes elsewhere that an unbalanced age distribution, particularly in Belgium, poses a risk of knowledge loss and talent gaps.

In 2024, Agfa confidently asserts that 100% of its employees are paid an adequate wage, in line with the available living wage benchmarks. This is supported by an annual review process driven by head office and complemented by an ad hoc check by the country's social secretariat overseeing payroll to ensure compliance with local minimum wage requirements, comparing the lowest salary per country with the available minimal living wage requirements set by each country's official authority.

The entire workforce (100%) is covered by Agfa's health and safety management system based on legal requirements or recognized standards; no scope limitation applies. For 2024 Agfa reports: 0 fatalities as a result of work-related injuries and work-related ill health; 43 recordable work-related accidents (injury or ill health) for its own workforce; a frequency rate of recordable work-related accidents of 5.66; and 639 lost workdays. The definition of recordable accidents is now aligned with the CSRD, so comparisons with previous years' data are not valid. The frequency rate represents the number of cases per one million hours worked, calculated by dividing the number of cases by total hours worked by Agfa's own workforce, multiplied by 1,000,000. Starting 2024, health and safety data collection expanded to include not only manufacturing organizations but also sales organizations, with manufacturing data based on primary monthly site inputs and sales data drawn from reported accidents confirmed by division Vice Presidents plus HR workforce FTE data and OECD average annual hours worked by country.

The gender pay gap is reported per the ESRS for all male and female Agfa employees worldwide, calculated as the grand total of the average difference between average total remuneration for men and for women, divided by the average total remuneration for men per country. The gender pay gap across all countries is +9.1%, and in Belgium (the country with the majority of Agfa's employees) it is -3.0%. The annual total remuneration ratio is 3.1, calculated as the grand total of the average total remuneration (excluding the highest-paid individual) divided by the grand total of the total remuneration median per country. For both metrics, total cash remuneration at full-time equivalent (100%), converted to euro, was used as reference, including monthly or bi-weekly salary multiplied by installments, the target variable amount, and all cash allowances. Pension contributions, car allowances, and insurance and healthcare premiums are excluded as highly variable between countries.

No identified cases or fines related to severe human rights violations (such as forced labour, human trafficking or child labour) or to harassment were filed in 2024. One incident citing discrimination was reported at Agfa in the United States in 2024; following analysis the case was settled and closed without admission of guilt, the applicable law was followed and Agfa paid $10,000 in compensation. Aside from this case, three complaints were reported in 2024 via the whistle-blowing procedure for alleged breaches of the Agfa Code of Conduct. Upon further analysis, two breaches were confirmed and corrective actions were taken; for one notification it was concluded there had been no breach and the file was closed without follow-up or corrective action.

Agfa translates its product stewardship approach into global policies and corporate guidelines. The Corporate Governance Charter sets Product Stewardship as a corporate commitment, endorsed by management with the Board of Directors ultimately accountable, and applies to all directors, officers and employees. Its principles feed the Corporate Safety, Health and Environment (SHE) Policy (owned by Product Safety and Regulatory Affairs), the Group Sustainability Management Policy (Corporate Sustainability Office) and the Sustainable Procurement Policy (Purchasing). For information management, the Charter commits Agfa to supporting customers in protecting privacy through secure products, with sensitive health data a special focus, implemented via the Global Information Security and Privacy Policy from the ICS Department and aligned to ISO 27001. A publicly available corporate policy on CMR substances requires that products contain no CMR category 1A or 1B substances at market introduction, with category 2 substances allowed only where a technical investigation finds their use unavoidable and safe use is proven. Healthcare policies align to ISO 13485, MDR EU 2017/745, FDA regulations, HIPAA and ISO 27001. Green marketing guidelines ensure fact-based communication.

Agfa engages with consumers and end-users mainly through its customers, considering it a high priority to be their partner of choice for the long term and to be market driven. The leadership teams of each business division take operational responsibility for ensuring engagement happens and that results inform Agfa's approach. At global level, Agfa uses its corporate website and social media to inform about products, businesses, sustainability progress and Safety Data Sheets (SDS), complemented by targeted events, talks and podcasts and country- or market-specific tools. Engagement runs continuously throughout the commercial chain, starting from strategy definition and idea generation (for example annual advisory boards with key opinion leaders and customer interviews) through the Research and Development phase, where main customers influence prioritization of feature requests. Before market launch, customers are involved in clinical trials and serve as beta or Design Readiness Assessment (DRA) customers, and User Acceptance Tests are systematically conducted during installations. Ad hoc customer satisfaction questionnaires and service ticket resolution data help measure engagement effectiveness.

The channels and structures described in the governance section of the Sustainability Statement, including whistle-blowing mechanisms, are also accessible to external stakeholders including customers, consumers and end-users. To address specific needs related to the performance of marketed solutions, the business divisions have implemented management systems to handle any instances of complaint or non-compliance, whether identified preventively through internal audits or reported by a customer, a notified body or an authority. These systems include a clear escalation flow and well-defined processes for Corrective and Preventive Actions (CAPA) to ensure issues are effectively addressed and future occurrences prevented. Customers are provided with access to escalation points of contact through the user and service manuals of the solutions.

Agfa states that a focus on innovation and the development of safe, high-performing and sustainable products, together with continuous effort to improve and stay aligned with evolving high standards of data management security, are essential to achieving proper impact, risk and opportunity management. Agfa considers that the policies, structures and processes described in the preceding S4 paragraphs provide a comprehensive understanding of the key actions taken to manage related impacts, risks and opportunities. It notes that engagement with consumers and end-users through customers is an ongoing process and that Agfa remains committed to continuously strengthening these interactions. No discrete new actions with separate resources or timelines are disclosed beyond these existing policies and processes.

Agfa reports that its priority so far has been adherence to regulations and high market standards, which it considers prerequisites. Because each business division follows a specific market approach and strategy, Agfa states it has not been feasible to establish a single, time-bound target related to consumers and end-users for the Group as a whole. In the short to medium term, Agfa intends to maintain its focus on effective product and service management, aiming to ensure full compliance of its portfolio with binding legislation as well as the highest quality and data protection standards. This includes fostering transparent and efficient information exchange, leveraging collaboration and open innovation with customers to accelerate exploration and validation of ideas, promoting a learning mindset within the organization and enhancing its approach to delivering sustainable business solutions. No quantified or time-bound target is disclosed.

Following its materiality assessment, Agfa identifies business conduct, including protection of whistle-blowers, prevention of corruption and bribery and management of supplier relationships, as material positive impacts and opportunities that could pose significant financial risks if not managed. Its policies include Agfa's Code of Conduct, integrated in the Corporate Governance Charter and publicly available on Agfa's website. The Board of Directors is ultimately accountable for defining and implementing the Charter and regularly reviews and updates it. All employees, external consultants and contracting parties are expected to adhere to the highest standards of ethical conduct and comply with applicable laws. The Code of Conduct includes principles such as a zero-tolerance policy for corruption, bribery and improper payments (both accepted and executed); zero tolerance for conflict of interest and insider trading; full compliance with competition and anti-trust laws; strict respect of intellectual property rights, confidentiality and non-disclosure; and full support for information security and privacy. The internal whistle-blower channel is described in the Code, with complaints handled confidentially by the employee's superior or the Group Compliance Office without retaliation, and external stakeholders may submit concerns by e-mail, phone or letter.

Agfa expects suppliers to adhere to the same sustainability standards as itself. Building on the global Agfa Code of Conduct, a specific Supplier Code of Conduct has been developed for all suppliers, distributors and agents, mandating compliance with laws and adherence to accepted standards of fairness and human decency. The Purchasing department implements it, incorporating it into supplier agreements alongside a sustainability clause covering human rights, conflict mineral sourcing, environmental protection, sustainable development, bribery and corruption. Compliance is monitored during on-site visits, and the Supplier CoC is referenced in all purchase orders through the General Purchasing Conditions. Areas covered, in line with ILO standards, include prohibition of corruption and bribery, no unfair business practices, anti-discrimination, no harsh or inhumane treatment, freely chosen employment and prohibition of child labor, freedom of association and collective bargaining, fair working hours, wages and benefits, health and safety, environmental protection, and supply chain security (AEO and CT-PAT). Suppliers undergo a tiering-based qualification and control process using nomination committees, assessment questionnaires, audits and scorecards. Since 2023 the Potential Supplier Assessment and audit questionnaires include sustainability, environment and safety categories. In 2024 the entire purchasing team received sustainable procurement training.

Agfa implements various levels of internal control and risk management systems to prevent, detect, investigate and respond to allegations or incidents related to business conduct, including corruption and bribery. In addition to whistle-blower channels, these include a Compliance Officer appointed internally to monitor directors' and designated persons' compliance with the Corporate Governance Charter; an internal audit system covering accounting, financial, sales, production and research and development matters; and reporting to the Audit Committee within the Board of Directors to review the effectiveness of internal control and risk management systems. Agfa's annual Compliance Review was presented directly to the Board of Directors before the end of the 2024 fiscal year. All employees have access to dedicated training channels on the Group's online learning platform. A biennial request is automatically e-mailed to all senior managers involved in decision-making (management level 2 and above, with level 0 the highest) requiring them to reconfirm they have read and understood the Code of Conduct. This ensures that 100% of functions-at-risk regarding corruption and bribery are covered by training programmes on anti-corruption, whistleblower protection and good business practices. The process is being gradually rolled out to all employees. There is no standalone anti-bribery and corruption training policy.

Agfa reports that in 2024 there was no conviction or fine for violation of anti-corruption and anti-bribery laws involving Agfa or its employees. As a result, no further action was taken to address breaches in procedures and standards of anti-corruption and anti-bribery.

Agfa reports that in 2024 there were no legal proceedings outstanding for late payments. Payment terms are defined based on national legislation and mutual agreements between Agfa's Purchasing Department and suppliers, and differ by region. The mutually agreed average payment terms are 37 days for Asia Pacific, 44 days for Europe, Middle East and Africa, 26 days for Latin America and 37 days for North America. These terms are calculated as a weighted average based on spend and payments, covering all transactions completed during the reporting year. Payment runs are scheduled weekly, making it challenging to align perfectly with the terms. As a result, in 2024, 9% of all payments were made exactly on the due date and 77% were completed either in advance or within one calendar week. Considering all transactions completed during the reporting year, it took on average 53 days for Agfa to pay an invoice from the date when the mutually agreed payment terms started to be calculated. Agfa notes there is no explicit, document-based payment practices policy, but it consistently settles invoices according to contractually agreed terms.