Ariston Holding

The role of the administrative, management and supervisory bodies

Reference: page 46; pages 46-48, 183-184.

Ariston "has a one-tier Board composed of Executive and Non-Executive Directors. The Board holds ultimate responsibility for the Company's overall strategy and management, including sustainability matters" (page 47). Composition and diversity data are incorporated by reference to Section 7.2 of the Annual Report.

• The Audit and Sustainability Committee "monitors and supervises the integrity and quality of the Company's sustainability reporting and the related reporting processes"; members are Antonia Di Bella, Laurent Jacquemin and Katja Gerber (pages 47-48).
• An ESG Council, established in 2021, includes the Executive Chairman, the CEO and key Executive Committee members; the ESG Steering, chaired by the ESG Director, oversees the reporting process (page 47).
• IRO responsibility is delegated to Directors of corporate functions, reporting to Executive Vice Presidents, then to the CEO and Executive Chairman.

The ERM framework "integrates Environmental, Social and Governance (ESG) risks, which are among the most significant risks faced by the Group" (page 47).

Board data (page 184): at 31 December 2025 the two executive directors were 0% women; the nine non-executive directors were 44% women and 56% men. Six of the nine non-executives qualify as independent, and the Company discloses a deviation from best practice provision 2.1.7(i) (page 183).

Information provided to and sustainability matters addressed by the administrative, management and supervisory bodies

Reference: page 48; pages 48-49.

"Overall, Management and Supervisory bodies are informed about material impacts, risks and opportunities (IROs) in multiple meetings each year with the Audit and Sustainability Committee. With the approval of the Sustainability Statement, the Audit and Sustainability Committee and the Board validate the results and effectiveness of policies, actions, metrics and targets adopted to address IROs" (page 48).

"The list of material impacts, risks and opportunities (IROs) addressed by administrative, management and supervisory bodies is reported in the table in ESRS 2 SBM-3" (page 49).

Target-setting cycle (page 48). "Based on the outcomes of the IRO assessment, the Directors and the ESG Team jointly define the ESG targets, which are shared with the ESG Council and the validated with the Audit and Sustainability Committee." The ESG Team "tracks progress through defined KPIs and provides periodic reports" to the Committee, "which evaluates performance and identifies potential corrective actions. At year-end, the Audit and Sustainability Committee reviews the consistency between the results achieved and planned objectives and endorses the updated ESG Plan for the following year."

No frequency of Board-level reporting is quantified.

Integration of sustainability-related performance in incentive schemes

Reference: page 49; pages 49, 196-198.

Disclosed by cross-reference: "For information on the integration of sustainability-related performance incentive schemes, please refer to Section 7.3 Remuneration Report... Ariston Group's sustainability-related performance metrics are included in the Remuneration Policy" (page 49).

Long-term incentive (page 198). Vesting of performance share units depends on four targets: Group Adjusted EBIT (40%), Group Net Turnover (30%), relative TSR (15%) and "a sustainability objective, weighting 15% of the total performance scorecard, measuring the Scope 4 CO2 emissions avoided at the end of the performance period, from a 2020 baseline, thanks to the renewable and high efficiency products the Group sells with respect to the efficiency of the installed park in the regions it operates."

Short-term incentive (pages 196-197). The scorecard is Group Adjusted EBIT (50%), Group Net Turnover (30%) and Group Quality Index (20%). The Company states that the STI "is based on financial and economic performance measures and, therefore, without directly taking into account specific qualitative performance objectives that are non-financial and/or related to corporate social responsibility", reasoning that socially responsible behaviour "should in any case be reflected, in the long term, in the financial results".

Statement on due diligence

Reference: page 49.

"Ariston Group has conducted a due diligence process to identify the points of view and the impacts, risks and opportunities (IROs) concerning both internal and external upstream stakeholders. The approach varies depending on the stakeholder category, ensuring tailored methodologies for engagement and analysis. Following a risk-based approach, the Group intends to gradually extend the due diligence process to the entire value chain" (page 49).

A mapping table sets the five core elements of due diligence against the paragraphs of the statement (page 49):

• Embedding due diligence in governance, strategy and business model - GOV-2, GOV-3, SBM-3
• Engaging with affected stakeholders in all key steps - GOV-2, SBM-2, IRO-1, S1-2, S4-2
• Identifying and assessing adverse impacts - IRO-1, SBM-3
• Taking actions to address those adverse impacts - E1-3, E3-2, E5-2, S1-4, S2-4, S4-4, G1-3
• Tracking effectiveness and communicating - E1-4/5/6, E3-3, E5-3/4/5, S1-5/6/9/13/14/16/17, S2-5, S4-5, G1 MDR-T, G1-3/4

The operational due diligence instrument for the upstream value chain is the EcoVadis platform, described under S2-4 (page 131).

Risk management and internal controls over sustainability reporting

Reference: page 49; pages 49-50.

"The sustainability reporting process is subject to risk assessments and Internal controls. The entire data flow, encompassing both quantitative and qualitative data, has been mapped from its extraction to aggregation and final validation" (page 49).

Three-phase mapping (page 49): roles defined so that "Data Providers provide the content and the responses to the relevant ESRS disclosures within their area of responsibility, Data Reviewers oversee the contents and the data collected, and Data Validators validate the final data"; processes for qualitative, quantitative and monetary data including EU Taxonomy data standardised; tools mapped, covering software platforms, centralised repositories and compliance-specific systems.

"The prioritization of risk areas was assessed with a particular focus on data requiring significant manual extraction and processing, as well as those involving a multiple-step elaboration process" (page 49).

Mitigations include double-checking by the local data owner then Group aggregation through a single point of contact, shared pre-filled templates, and a dedicated Reporting Platform with the ESG Team "locking the data entry after the delivery deadline, preventing unauthorized changes unless specifically approved". The Audit and Sustainability Committee receives periodic reports on findings and proposed mitigations (pages 49-50).

Strategy, business model and value chain

Reference: page 50; pages 50-52.

"Climate action is a cornerstone of Ariston Group's strategy, driving its commitment to significantly reduce value-chain emissions through the global offer of high-efficiency and renewable-based technologies" (page 50). The Group follows "a multi-technology approach", including hybrid systems, hydrogen-blending-ready products, natural refrigerant gases, Home Energy Management systems and Demand-Response capabilities.

Value chain table (page 51): upstream sourcing (main purchasing categories "steel, aluminum, copper, polypropylene, polyurethane, paper") and inbound logistics; own operations covering R&D and "Manufacturing of products and systems carried out across the 28 production sites of the Group, globally"; downstream outbound logistics, wholesale, product use, after-sales and end-of-life.

Road to 100 targets to 2030 (pages 50-51) are tabulated by dimension, including 42% Scope 1 and 2 absolute GHG reduction, ">51,6% Scope 3- GHG emission reduction per million-Euro value added", 90% of heating gas condensing revenues from hydrogen-ready solutions in Europe, ">60% revenues in Europe generated by renewable technologies", zero waste to landfill by 2030, ">5 m. connectable products sold", and ">75% of products and services purchased from local suppliers".

Strategy and business model detail is cross-referenced to Sections 4.5 and 4.6 of the Annual Report (pages 50-51).

Interests and views of stakeholders

Reference: page 52; pages 52-53.

A stakeholder table (page 52) separates affected stakeholders (suppliers; analysts, investors and shareholders; employees and non-employees; customers including installers, technical committees, distributors, importers and centres of technical assistance; local communities; the environment as a silent stakeholder) from users of sustainability statements (banks and financial institutions; local, national and supranational institutions; media; trade unions and trade associations), giving the channel and the use made of each outcome.

"In 2025, the core strategy outlined in the Road to 100 Plan remained largely unchanged" (page 52).

Own workforce (page 53): HR gathers feedback from performance reviews, informal interactions, union meetings, employee representatives and World Class Manufacturing tools, "structured (mainly physical) platforms where employees can submit ideas".

Value chain workers (page 53): insights into "fair treatment, workplace safety, and access to fair pay among its suppliers' workforces thanks to the due diligence assessment through the EcoVadis platform".

Consumers and end-users (page 53): Quality, Service Marketing and Connected Services integrate customer feedback into the Group Strategic Plan.

Governance bodies are updated through alignment meetings with the Audit and Sustainability Committee, where DMA feedback is presented (page 52).

Material impacts, risks and opportunities and their interaction with strategy and business model

Reference: page 53; pages 53-56, 82, 99, 111, 128, 135, 148.

The IRO table (pages 55-56) lists 35 individually typed rows across seven material topical standards, each carrying an explicit type label (negative impact, positive impact, risk or opportunity), an actual or potential flag, a value chain position and a time horizon: E1 seven rows, E3 one, E5 six, S1 five, S2 two, S4 seven, G1 seven. The same rows are repeated at the head of each topical chapter.

Effects on the business model (pages 53-54). Transition risks "arise from regulatory developments (e.g. EPBD-related requirements and the adoption of life-cycle assessment approaches), dependency on public incentive schemes, and shifts in customer preferences driven by rising temperatures". Physical risks include "the increased frequency and intensity of extreme weather events and fires in warehouses and floods". Governance risks cover corruption, cybersecurity, an incomplete Tax Control Framework and M&A integration.

"All identified impacts, risks and opportunities (IROs) are covered by the European Sustainability Reporting Standards (ESRS) Disclosure Requirements, with no additional entity-specific disclosures required" (page 54).

No total IRO count is stated, and current financial effects are not quantified (page 44).

Description of the processes to identify and assess material impacts, risks and opportunities

Reference: page 56; pages 56-61.

"In 2025 Ariston Group updated its Double Materiality Assessment (DMA)", considering impact materiality (inside-out) and financial materiality (outside-in) (page 56).

Scope (page 56). Group-level assessment with "a deep dive... into activities in Europe due to the fact that annual sales within this market correspond to 71% with a growing exposure to the Americas (11%) and Asia, Middle East and Africa (18%)". The DMA "focuses mainly on climate comfort and water heating solutions since these represent 93% of annual product sales".

Process (page 57). Eight phases: pre-assessment of non-applicable topics, input gathering, internal stakeholder involvement, alignment with the ERM (interviews with Internal Audit "to ensure the full alignment between the evaluations and methodologies used in the Risk Register and Financial Materiality"), IRO long-list update, valuation and threshold setting, selection of Disclosure Requirements, and validation by the Committee.

Topic-specific processes cover climate (pages 58-59), water, circularity and governance (page 60).

Disclosure Requirements in ESRS covered by the undertaking's sustainability statement

Reference: page 61; pages 61-64.

"The information to be disclosed in relation to IROs was mapped by the ESG Team together with internal functions... Once compiled, the information was verified and integrated where necessary by the ESG Team itself and then proposed and validated with the Audit and Sustainability Committee. For all material topics, all applicable data points will be reported, except for those subject to phase-in, voluntary reporting, or deemed not applicable" (page 61).

Content Index (pages 61-62) lists, with page references: ESRS 2 BP-1, BP-2, GOV-1 to GOV-5, SBM-1 to SBM-3, IRO-1, IRO-2; E1 GOV-3, E1-1, SBM-3, IRO-1, E1-2, E1-3, E1-4, E1-5, E1-6; E3 IRO-1, E3-1, E3-2, E3-3; E5 IRO-1, E5-1 to E5-5; S1 SBM-2, SBM-3, S1-1 to S1-6, S1-9, S1-13, S1-14, S1-16, S1-17; S2 SBM-2, SBM-3, S2-1 to S2-5; S4 SBM-2, SBM-3, S4-1 to S4-5; G1 GOV-1, IRO-1, G1-1, MDR-A, MDR-T, G1-3, G1-4.

"Disclosures Requirements have been omitted for E2 Pollution, E4 Biodiversity and S3 Affected communities as these are not related to material IRO's" (page 62), each with a stated rationale.

Appendix B (pages 63-64) lists the datapoints deriving from other EU legislation with their SFDR, Pillar 3 and Benchmark Regulation references. No phase-in flag is applied to any individual disclosure requirement.

Transition plan for climate change mitigation

Reference: page 80; pages 80-82.

"The Group has defined a Transition Plan to reduce Scope 1 and Scope 2 absolute emissions by 42% and Scope 3 GHG emissions from the use of sold products by 51.6% per million Euro of value added by 2030, considering 2021 as the base year. The Science Based Targets initiative (SBTi) has validated both targets, confirming that the Scope 1 and Scope 2 commitments are aligned with the 1.5C trajectory scenario. The Transition Plan has been approved by the Audit and Sustainability Committee and the Board of Directors" (page 80). Ariston reports itself as "an entity included in the EU Paris-aligned benchmarks".

Scope 1 and 2 levers (page 80): plants revamping; continuous improvement in production management; onsite photovoltaic capacity; green electricity procurement via Energy Attribute Certificates and Power Purchase Agreements.

Scope 3 levers (page 81), where "Scope 3 accounts for 99% of the Group's emissions": an electric-based and connected product mix; global electricity grid decarbonisation; natural gas grid decarbonisation in Europe. "Two of these levers depend on future scenario evolution."

"Overall, the Transition Plan is fully embedded in and aligned with the Group's overall business strategy and financial planning" (page 82).

Identification of climate-related risks and scenario analysis

Back-filled from ESRS 2 IRO-1 and the E1 SBM-3 section, where this content is disclosed in the FY2025 report (pages 58-59, 82). This disclosure requirement did not exist under the 2023 ESRS the report was prepared against.

Reference: page 58; pages 58-59, 82.

Classification. The E1 IRO table separates one adaptation risk (extreme natural events and warehouse fires) from three transition risks and one opportunity (page 82).

Physical risk (page 58). "Ariston Group analyzed its most economically significant and exposed assets in 2024, updating the assessment in 2025 for the changes in the perimeter", scoring exposure and vulnerability across five risk levels. Scenarios: IPCC RCP2.6 (1.5C), RCP4.5 (2.6C) and RCP6 (3.4C). Under 3.4C, acute risks intensifying are "Extreme rainfall, flooding, lightning, drought and solar radiation" and chronic risks "Water stress, rising temperatures, and energy shortage" (page 59).

Transition risk (page 59). A long list built on TCFD categories with inputs from ERM, Public and Regulatory Affairs, Corporate Strategy and peer benchmarking, over three horizons: reporting period, 2030 and 2060. Scenarios: IEA <2C low carbon, 2C disorderly transition and 4C high carbon.

Gap: no scenario above 3.4C is used for physical risk, and no global average temperature projection is stated per scenario.

Resilience in relation to climate change

Back-filled from ESRS 2 SBM-3 and the E1 "Resilience analysis" section, where this content is disclosed in the FY2025 report (pages 54, 82-83). This disclosure requirement did not exist under the 2023 ESRS the report was prepared against.

Reference: page 82; pages 54, 82-83.

"The resilience analysis, carried out in 2025, covered all Group assets, with particular attention to operations within the European Union... The only exclusions concern the scope of the physical risk assessment... which will undergo further refinement and expansion in the coming years" (page 82).

Results (page 82). The opportunity is "the trend toward electrification of heating solutions, including in particular heat pumps". Primary physical risks are "higher operational costs resulting from more frequent and severe natural events, including fires in warehouses... compounded by escalating business-continuity expenses, with extreme weather increasing the likelihood of plant flooding, transport delays, and a negative impact on sales".

Capacity to adjust (pages 82-83). The Group "focuses on strengthening operations and the supply chain, investing in more resilient infrastructure, and using better risk-management tools". Climate-risk analysis is being integrated into the Business Continuity Plan, with a manual tracker begun in 2025; "While no formalized procedure currently exists, the process is guided by an internal BCP manual" (page 83).

Policies related to climate change mitigation and adaptation

Reference: page 83; pages 83-84.

Business Continuity Program (adaptation, page 83). The BCP "acts as a central framework for the annual identification, assessment, monitoring and verification of risks that may impact the Group's ability to ensure uninterrupted operations". "As of 2025, the BCP covers 15 production plants", is "Modelled on the ISO 22301 Business Continuity Management standard" and addresses extreme natural events, raw material shortages and cyberattacks. It "incorporates a holistic risk assessment process, including scenario-based physical risk analyses for plants identified as having the highest exposure and economic relevance".

Group HSE Policy (mitigation, pages 83-84). It "defines Ariston Group's commitment to mitigating climate change and achieving significant reductions by 2030", applies to all operations in every country, and is underpinned by the ISO 14001-certified Environmental Management System and the World Class Methodology. Approved by the Group CEO and reviewed annually with employee consultation.

Sustainable Procurement Policy (page 84). Targets Scope 3 and sets minimum ESG requirements for all upstream suppliers, "both strategic and non-strategic, regardless of size or capacity", with no exclusions. Suppliers "are expected to measure and reduce energy use, record Scope 1 and Scope 2 emissions". Oversight lies with the Chief Procurement Officer.

Actions and resources in relation to climate change policies

Reference: page 84; pages 84-90.

Adaptation (page 85). At Cerreto, "environmental risk mitigation efforts have focused on enhancing and managing water discharge systems to prevent potential flooding events". Mainburg extended a roof refurbishment and insulation programme into 2025 and installed "a flood protection system... to safeguard facilities against inundation and rising water levels".

Scope 1 and 2 (pages 85-86). "Overall, actions related to renewable energy generation and self-consumption, purchase of renewable energy certificates and implementation of energy efficiency measures allow for an overall reduction of 33% vs the 2021 baseline." Efficiency projects ran at nine sites from Osimo to Centurion. Cerreto photovoltaics "generated approximately 730,000 kWh of energy between January and September 2025", and "a new photovoltaic plant at the Osimo site was completed in October 2025, adding a theoretical installed capacity of 990 kW".

Investment (page 84). A new 30,000 square metre plant at Albacina forms part of "the Group's Italian 500 million euro multi-year plan (2022-2028)".

Downstream Scope 3 (pages 86-89). In 2025 the Group "completed the transition of its entire EU range of split heat pump water heaters from R134A (GWP 1430) to R513A", and launched R290 ranges including Nuos FIT S2, Nuos PLUS S2 and Wolf CHA-20/24.

Targets related to climate change mitigation and adaptation

Reference: page 90; pages 90-94.

Emissions targets (page 90), base year 2021, target year 2030:

• 42% absolute Scope 1 and 2 reduction. Baseline 112,964 tCO2e (revised); 2024 83,590 tCO2e; 2025 75,462 tCO2e (-9.7% vs 2024), with "8% S1 emissions vs 2024" and "-32% S2 emissions vs 2024". The 2030 absolute value is 65,519 tCO2e (page 96).
• 51.6% Scope 3 reduction per million euro of value added on use of sold products, 71% coverage. Baseline 219 tCO2e/kEUR; 2024 277; 2025 177 tCO2e/kEUR (-36.1% vs 2024).

SBTi validation was "successfully obtained in March 2024" (page 90), using the cross-sector decarbonisation pathway; Scope 3 targets follow well-below 2C pathways per SBTi rules.

Progress (page 91). "In 2025, Ariston Group completed 79% of its 2030 Scope 1 and 2 (S1&2) target, having achieved a 33% reduction in absolute S1&2 emissions from its base year." For Scope 3 it "has already completed 37% of its Scope 3 decarbonization goal". The 2021 base year was recalculated in 2025 for the reconsolidation of Russia, above the 5% threshold.

Supporting targets (pages 92-94): 95% hydrogen-ready condensing revenues in Europe; 51% of European revenues from renewable technologies, up 8 points; green electricity 46% of electricity purchased and 49% of electricity consumed; 2.2 million connectable products sold against a 2030 target of over 5 million.

Energy consumption and mix

Reference: page 94; pages 94-95.

Ariston reports as a high climate impact sector undertaking, classified under NACE C.27.51 "Manufacture of domestic appliances" and C.28.25 "Manufacture of air treatment equipment" (page 94, footnote 22).

Total energy consumption: 297,429 MWh (2024) to 329,756 MWh (2025).

Own production: cogeneration from natural gas 5,224 to 6,038 MWh; solar 3,556 to 4,432 MWh (page 95).

Energy intensity in high climate impact sectors rose from 112.96 to 121.82 MWh per million euro of net revenue, on net revenue of 2,633 and 2,707 million euro (page 95).

"In 2025, total energy consumption increased mainly as a result of the reconsolidation of Russia. Nevertheless, the share of energy from renewable sources rose significantly, supported by the implementation of a robust green energy procurement strategy leveraging PPAs and EACs" (page 95). Non-production site consumption is estimated from floor area ratios (page 44).

Gross Scopes 1, 2, 3 and Total GHG emissions

Reference: page 95; pages 95-96.

Scope 3 by category, 2025 (page 95): use of sold products 78,731,575 (-24% vs 2021), purchased goods and services 480,667 (-29%), upstream transportation and distribution 89,995 (-34%), end-of-life treatment of sold products 46,862 (-21%), downstream transportation 19,338 (-14%), capital goods 19,464 (+27%), fuel and energy-related activities 17,352 (-27%), employee commuting 9,048 (+11%), business travel 7,862 (+101%), waste generated in operations 1,192 (-30%).

Scope 1 rose in 2025 while market-based Scope 2 fell by roughly a third. Biogenic CO2 from combustion in Scope 1 was 423 tCO2e in 2025 (801 in 2021).

Intensity: total market-based emissions per million euro of net revenue fell from 52,917 (2021) to 29,368 tCO2e/MEUR (2025), a 44% reduction, on net revenue up 36% to 2,707 million euro (page 96).

Categories excluded as not applicable or immaterial: upstream leased assets, processing of sold products, downstream leased assets, franchises and investments (page 96).

Policies related to water and marine resources

Reference: page 97.

Water is material only upstream: the single E3 IRO is "Upstream intensive water consumption", an actual negative impact over the long term (page 97). "In the Company's production processes, water is used sparingly... Therefore, no material IROs have been identified either downstream or in direct operations" (page 60).

Sustainable Procurement Policy (page 97). It "sets out the Group's commitment to reducing water consumption along the upstream value chain" through two tiers:

• Water minimum requirements - suppliers "are expected to improve the efficiency of water use in their operations" and "to reduce water discharge and increase the proportion of treated water returned to the ecosystem".
• Preferred practices - suppliers "should monitor where and how water is withdrawn, consumed, and discharged" and "should maintain accessible data on their water withdraws, discharges and consumption".

The company states a limitation directly: "To date, no specific improvement requests regarding water management have been directed at suppliers operating in specific areas" (page 97).

Actions and resources related to water and marine resources

Reference: page 97; pages 97-98.

EcoVadis assessment (page 97). "In 2025, the Group launched the second wave of the EcoVadis assessment campaign", targeting strategic suppliers who had declined the previous year plus additional non-strategic suppliers. "For those suppliers considered strategic to the Group and included in the 2030 sustainability target, the coverage rate increased from 65% in 2024 to 75% in 2025."

Corrective Action Plans (pages 97-98). "CAPs were launched in 2024 with the first wave of assessments and related corrective measures, followed by a second wave in December 2025." A formal request carries "a typical implementation timeframe of one year", supported by an "Improvement Letter", with progress tracked in the CAP tab of the supplier scorecard.

"Within the CAP framework, particular emphasis is placed on strengthening water management practices... suppliers are required to implement measures such as reducing water use, treating and reusing wastewater, and adopting technologies that optimize water efficiency" (page 98).

Limitation stated: "As of today, no specific actions have been defined in relation to areas at water risk where suppliers operate" (page 98).

Targets related to water and marine resources

Reference: page 98.

One target is disclosed, a rolling relative target set in 2024 (page 98):

"The target is considered achieved given that, after identifying suppliers with low performance on water management, the Group requested all critical suppliers to implement corrective actions in 2025, in alignment with the previous year. In the current year, the scope of this target includes only key suppliers from the second wave of assessment" (page 98).

Method (page 98). "The KPI percentage is calculated as the proportion of suppliers from whom the Group has requested a corrective action plan, relative to the total number of suppliers identified as needing one."

The target measures a request rate, not an outcome, which the company acknowledges: "During 2026, following the update of the EcoVadis assessment... the Group will be able to identify the effective progress implemented by its partners in response to this request". "Measurement of the metric is not validated by an external body other than the auditors of the Sustainability Statement, but it is formally tracked on the EcoVadis platform."

No water consumption, withdrawal or intensity target is set.

Policies related to resource use and circular economy

Reference: page 99; pages 99-101.

Sustainable Procurement Policy (page 99). Suppliers "are required to provide transparent data on material composition, integrate recycled content, and guarantee recyclability wherever feasible. Packaging must be designed to minimize plastic usage and progressively increase the share of recycled plastic to at least 35% by 2030, with third-party certification verifying recycled content." Suppliers must also adopt "the 5R methodology (Refuse, Reduce, Reuse, Recycle, Revalorize)" and trace conflict minerals to origin.

New Product Development Procedure (pages 99-100). "Its primary objective is to extend product lifetime by embedding durability, reparability, and efficiency into every stage of design and development." "In 2025, the Procedure underwent a major revision aimed at harmonizing tools and methodologies across Ariston Group and its subsidiaries - including Wolf... Within this first review, a CO2 assessment was introduced as a recommended, though not mandatory, activity."

Waste Disposal Management Procedure (pages 100-101). Revised in 2025. It "strengthens controls over waste depots by explicitly prohibiting any on-site landfilling or incineration", requires monthly waste data "by the 12th of each month", and aligns with Directive 2008/98/EC, the WEEE Directive and Regulation (EU) 2024/1157.

Actions and resources related to resource use and circular economy

Reference: page 101; pages 101-105.

HSE Roadmap 2025 (page 101). "The Zero Landfill Program focuses on eliminating waste sent to landfill and promoting circularity within manufacturing sites." The ISO 14001:2015 certified system "covers 18 production sites, was successfully renewed in 2025 and is valid until June 2026".

Materials (pages 101-102). "Upstream initiatives have already resulted in recycled steel representing around 28% of total usage. As a core material, steel accounts for approximately 70% of the total weight of materials used in the manufacture of Ariston Group's thermal comfort solutions." Wolf expanded Green Steel in its Air Handling Unit portfolio, certified under Responsible Steel and "manufactured from at least 75% recycled scrap in electric arc furnaces powered entirely by renewable electricity".

Packaging (page 102). Thermowatt low environmental impact packaging uses paper tape, bioplastic (PLA) and film with 30% recycled plastic: "total plastic consumption for packaging will be reduced from 16.8 tons to 10.2 tons - a 40% decrease - and 3.1 tons (18%) of the remaining plastic will derive from post-industrial recycled materials."

Life Cycle Assessment (page 102). In 2025 the Group adopted One Click LCA and piloted it on an Air Handling Unit, a Heat Pump Water Heater and a Heating Heat Pump, with Design Phase EPDs for the latter two.

Targets related to resource use and circular economy

Reference: page 105; pages 105-108.

Sustainable Packaging (pages 105-106). A 2030 target to "Achieve the levels of the required Sustainable Packaging Definition", including "Ensuring all packaging is 100% recyclable", "Avoiding plastics where possible and including at least 35% recycled plastic when used" and "Excluding any hazardous substances". 2025 progress is qualitative: EPS-free packaging for UK Screwfix and the Thermowatt packaging. "Progress toward the 2030 target is on track for R&D and testing, while implementation is currently limited to pilot projects in selected markets."

Zero waste to landfill (pages 106-107). Target year 2030; baseline 95% diversion from landfill (2024); 2025 progress 96% diversion (+1%), whole Group, self-certified against UL ECVP 2799, whose Gold level requires 95%. "In the years ahead, the Company will evaluate application for third-party certification."

Spare parts availability (page 107). ">85% products with a digitally advanced spare parts catalog" by 2030; baseline 83% (2024); 2025 progress 86% (+3%). The perimeter widened to include Wolf: "if the same perimeter as the previous year (which excluded Wolf) were considered, progress would have reached 85%".

Resource inflows

Reference: page 108.

Total weight of products and technical and biological materials used: 244,893 t (2024) to 281,434 t (2025).

Named materials with 2025 weights: steel 178,860 t; covered steel 23,875 t; plastic 12,454 t; aluminium 10,998 t; carton 9,837 t; polyurethane 8,135 t; pallet 8,101 t; stainless steel 7,640 t; copper 5,662 t; brass 5,530 t; enamel 3,720 t; magnesium 2,905 t; glass 1,022 t; EPS 876 t; paint 792 t; gas 751 t; paper 275 t.

Biological materials sustainably sourced: 542 t, 0.22% of total (2024) to 1,812 t, 0.64% (2025).

Total weight of secondary materials: 55,734 t, 23% (2024) to 68,688 t, 24% (2025), all recorded under materials used to manufacture products and services including packaging, and all recycled rather than reused. Secondary components and secondary intermediary products are marked not applicable.

Method and its limits. For biological materials, "The percentage of certified material identified through this engagement was weighted against the total amount of biological material purchased. This figure represents the current level of visibility the Group has on the share of materials that are effectively sustainably sourced." For secondary materials, "the reported weight refers primarily to recycled steel". "During 2025, the scope of the analysis was expanded to include recycled biological materials (paper, carton boxes, and pallets)", so the movement partly reflects wider coverage.

Resource outflows

Reference: page 109; pages 109-110.

Durability (page 109). "Ariston Group's heating and water heating systems, both domestic and commercial, have an average lifespan in line with industry standards, ranging from 10 to 15 years, while Air Handling Units (AHUs) can last up to 25 years due to lower thermal stress and more stable operational cycles." Circular practices named include "Wolf Retrofit Service remanufacturing, the reuse of packaging, and the integration of recycled materials such as steel".

Repairability (page 109). "Ariston Group products are also designed for high repairability. The Company ensures compliance with the Right to Repair Directive by maintaining spare part availability and offering technician training. However, as there is currently no internationally recognized repairability rating system aligned with ESRS criteria, no further information can be provided."

Recyclability (page 109). "According to data provided by a leading WEEE consortium in the EU, the Group's end-of-life products are primarily recycled into iron, aluminum, copper, and plastic. The recycling rate for the identified different types of waste ranges from 80% to 90%, energy recovery accounts for 5% to 15%, while disposal remains at around 5%."

Waste

Reference: page 109; pages 109-110.

Radioactive waste is nil in both years. Within non-hazardous disposal, incineration rose from 1,619 to 2,974 t while landfill fell from 723 to 597 t (page 109).

Explanation given (page 109). "In FY25, total waste generated increased by approximately +19% year-on-year, primarily due to the extension of the reporting perimeter following the inclusion of the Russian operations... Over the same period, waste diverted from disposal increased by around +17%, driven mainly by higher volumes of recycled non-hazardous waste. As a result, while the absolute amount of recycled waste increased, the recycling rate remained broadly stable, decreasing slightly by approximately -1.3% compared to the previous year."

Streams (pages 109-110): process residues and by-products, packaging and material handling waste, and end-of-life materials. "Waste data collection follows the Waste Framework Directive at a global level, as the EU EWC codes form the basis for waste categorization in plants outside Europe as well."

Policies related to own workforce

Reference: page 112; pages 112-114.

Code of Ethics (page 112). It "firmly rejects any form of discrimination or harassment based on gender, ethnicity, religion, political beliefs, or any personal or social circumstance" and defines principles for employee health and safety. "The document has been updated in 2025 and its release is expected in 2026."

Human Rights Policy (pages 112-113). Formalised through a due diligence process, it names eight rights including "The right to just and favorable working conditions" and "The right to freedom of association and collective bargaining", and "explicitly prohibits human trafficking, forced or compulsory labor, and child labor". It is aligned with the International Bill of Human Rights, the ILO Declaration, the UN Guiding Principles and the OECD Guidelines, and was "approved by the ESG Committee (currently the Audit and Sustainability Committee) on 20 February 2023".

Diversity and Inclusion Policy (page 113) and HSE Policy, the latter "based on the ISO 45001-certified Occupational Health and Safety (OH&S) Management System, revised in 2025. At the moment, 21 plants are certified."

Stated limitation (pages 113-114): "Although these policies apply comprehensively to all employees, they do not include commitments directed at particular categories of individuals who may be at higher risk of vulnerability."

Processes for engaging with own workforce and workers' representatives about impacts

Reference: page 114.

"Workforce engagement is carried out both directly with employees and through recognized workers' representatives" (page 114).

White-collar staff. Communication runs through weARe, the global intranet, "which acts as a central platform for sharing information and reinforcing a unified corporate culture. This system enables effective two-way communication: top-down through company-wide announcements and updates, and bottom-up via Viva Engage, the internal social network where employees can share ideas and feedback." Quarterly global Town Halls with Top Management provide question and answer sessions.

Blue-collar workers. Engagement "often takes place in cooperation with Trade Unions or workers' representatives, depending on national labor regulations. Regardless of Union presence, all production employees are encouraged to participate actively through the World Class Manufacturing (WCM) program". Meeting frequency with union representatives "is defined by local legislation but may be increased when specific issues require more regular dialogue".

Accountability. "Responsibility for overseeing and ensuring the effectiveness of workforce engagement lies with the Chief People Officer."

Processes to remediate negative impacts and channels for own workforce to raise concerns

Reference: page 115.

Whistleblowing System (page 115). Through its Whistleblowing Policy and Procedure the Group "provides employees with secure and confidential means to report unethical conduct or wrongdoing. The system includes strong safeguards against retaliation or discrimination and applies to a broad range of concerns, including breaches of the Code of Ethics, violations of workforce-related policies, cases of harassment, intimidation, aggression, discriminatory behavior, and potential human rights infringements."

"Each report that contains sufficient and objective information triggers a formal investigation conducted under strict confidentiality. Oversight is ensured by the Whistleblowing Internal Committee." Significant cases escalate to the Compliance Committee, the Audit and Sustainability Committee and, for Italian entities, the Organismo di Vigilanza.

Effectiveness is monitored by tracking report volumes, geographic coverage and participation rates.

Taking action on material impacts on own workforce

Reference: page 115; pages 115-122.

Human Rights Assessment (page 116). "In 2025, Ariston Group updated its Human Rights assessment... The assessment focused on five manufacturing plants, selected through a desk-based country human rights risk analysis, with priority given to locations presenting the highest potential risk." The method combined an anonymous questionnaire to local HR and Plant Directors with in-depth interviews. "Overall, the results indicate that the level of risk for most human rights topics is low."

Secure employment (page 116). A supplementary company agreement covering the Italian sites at Genga, Cerreto d'Esi, Conce, Albacina, Osimo and Arcevia was renewed in December 2025 and "retains economic validity until 31 December 2027".

Health and safety (pages 117-118). Two strategic priorities: machinery safety, "with particular attention to equipment predating the Machinery Directive (2006/42/EC)", and ergonomic risk. The ISO 45001:2018 system covers 21 production sites and was revised in 2025, valid to June 2027.

Skills (pages 118-121). Wolf Germany leadership training reached "52 participants, representing 81% of the Management Team"; a DEI Awareness Program and Global Mentoring Program were run in 2025.

Targets related to own workforce

Reference: page 122; pages 122-124.

Employee experience (page 122). A qualitative 2030 target to "Position the organization as a winning organization with simplified and agile processes, widespread leadership, and a vibrant talent ecosystem", baseline 2023. 2025 progress lists the DEI Awareness Program, the Global Mentoring Program and continued rollout of the New Leadership Model. "To date, progress is considered on track with the target" (page 123).

Internal career progression (page 123). "Over 60% of managerial positions are filled through internal career progression", target year 2025, baseline 59% (2022), 2024 73%, 2025 79% (+6%). "The results confirm the achievement of the target, which had already been reached in 2024." The metric is "the ratio of individuals appointed to managerial positions through promotions or lateral moves during the year to the total number of managerial positions that became available during the fiscal year".

Gender balance in management (pages 123-124). "At least 30% female employees and at least 30% male employees in Ariston Group Management team" by 2030; baseline 24% female (2022); 2024 21% female; 2025 21% female, 79% male, unchanged. "Overall, the indicator has remained substantially stable; in order to improve performance in the coming years, the Company has adopted a bottom-up approach by establishing a Diversity Committee", with a focus group planned for 2026.

Characteristics of the undertaking's employees

Reference: page 124.

Total employees: 10,612 (2024) to 10,830 (2025), headcount basis.

Countries are broken out where they exceed 50 employees and represent at least 10% of the total.

By gender (2025): male 8,578 (79%), female 2,252 (21%), other 0.

By contract (2025): permanent 10,206 (male 8,111, female 2,095); temporary 624 (male 467, female 157). "Ariston Group does not employ non-guaranteed hours employees."

Turnover (page 124): 1,699 leavers and 16.0% in 2024, rising to 2,006 leavers and 18.5% in 2025. "The Employee Turnover Rate is calculated by dividing the total number of employees who left the company during 2025 by the number of employees at 31.12.2025."

Scope notes: 2025 data include the DDR and ZRE acquisitions; "Leased staff and internships are not included in the headcount." Reconciliation to the financial statements is by cross-reference to Annual Report section 2, Key Highlights.

No breakdown by region beyond country, and no full-time or part-time split, is provided.

Diversity metrics

Reference: page 125.

Gender distribution at top management (page 125):

"Top Managerial Positions are defined as roles classified within Bands A to D, in accordance with Ariston Group's Job Banding system, which is based on Mercer's job evaluation methodology. The CEO and Executive Chairman are excluded from the count. In 2025, the composition of top management experienced a slight shift compared with the previous year, with the proportion of men decreasing by 1% to 86% and the proportion of women increasing by 1% to 14% of the total."

Age distribution (page 125):

"The trend remains consistent with 2024, with 13% of the workforce under 30, 56% between 30 and 50, and 31% over 50." Data are extracted from the official HR platform.

The wider management population, defined as employees managing teams, was 21% female and 79% male at 31 December 2025 (page 184).

Training and skills development metrics

Reference: page 125.

Performance and career development reviews (page 125):

"In 2025, the number of employees evaluated was 5% lower than in 2024. Overall, 60% of all female employees were evaluated, compared with 39% of all male employees."

Average training hours (page 125):

"With regard to total hours per female employee, this year's decrease was consistent with an overall balanced multi-year trend. The variation is mainly driven by a different mix of training programs and content compared to previous years. Looking ahead, the Group will continue to encourage and support higher female participation in upskilling pathways."

Estimation (pages 46, 125). "For employees whose gender was reported as N/A in the training database, Ariston Group's HR team estimated their gender distribution by weighting it according to the gender breakdown of the total employee population." Training hours for the 2025 acquisitions were estimated using the Group average.

Health and safety metrics

Reference: page 126.

Restatement (page 126). "Compared to 2024, a new approach was applied to calculate the percentage of employees covered by health and safety management systems. Whereas in 2024 only employees from sites certified by third parties were considered, this year, in line with ESRS requirements, all sites falling within the scope of the HSE management system were included." The 2024 coverage figure was restated from 35% to 100%. "The 2025 figure is slightly below 100% because it includes newly acquired sites, which are scheduled to be fully integrated into the HSE management system next year."

Scope limitation stated (page 126). "The workplace incident data presented in this report refers exclusively to production plants, as these sites are characterized by a higher risk profile... However, we are committed to progressively expanding our reporting in the coming years to include all incidents across the entire Group."

"Work-related lost-time injuries increased by nine cases, a change that also reflects the inclusion of the Russian plant."”

Compensation metrics (pay gap and total compensation)

Reference: page 126.

Gender pay gap (page 126): 14% (2024) to 12% (2025), measured on average gross hourly pay of 21 euro for women against 24 for men in 2024, and 22 against 25 in 2025.

Annual total remuneration ratio (page 126):

"The current gender-based pay gap is 12%. The improvement in this indicator is primarily driven by the increased attention the Company devoted to wage levels during 2025."

Method and caveats (pages 46, 126-127). "The Gross Hourly Pay Level and all the other components both in cash and in kind are used as a standardized indicator to measure wage disparities between men and women. To ensure global comparability, it is assumed that a standard working day consists of 8 hours across all countries." "For 582 employees for whom detailed remuneration data were not available, estimates have been made... using gender-based average remuneration figures, calculated on the population with available data."

The Group notes the ratio "does not take into consideration labor market differences, local salary levels, type of job and responsibilities".

Incidents, complaints and severe human rights impacts

Reference: page 127.

"The data in table 103 refer to confirmed whistleblowing reports of harassment and discrimination, together with unconfirmed whistleblowing reports received through the whistleblowing platform/official email" (page 127).

"In 2025, the number of whistleblowing reports decreased significantly to 7, indicating a normalization of the reporting trend after the spike observed in 2024. The corrective and preventive actions implemented in response to the 2024 reports were effective, contributing to a more stable and confident organizational climate. Moreover, Ariston Group has maintained a high level of commitment to integrity and transparency, in part thanks to a renewed communication campaign carried out in 2025 to reinforce awareness of the whistleblowing tool and the safeguards provided for whistleblowers."

"Additionally, none of the reports filed in 2025 resulted in sanctions or penalties issued by Authorities and no severe human rights incidents have been reported."

Policies related to value chain workers

Reference: page 129; pages 129-130.

Human Rights Policy (page 129). It "applies to all members of corporate bodies, employees, temporary workers, consultants, collaborators of any kind, and individuals engaged within the supply chain". Compliance "is a prerequisite for establishing and maintaining long-term partnerships as the Group does not enter into or continue business relationships with companies that fail to meet the requirements of this Policy or that breach its principles - including the use of forced, compulsory or child labor, or involvement in human trafficking".

Sustainable Procurement Policy (page 129). Requires suppliers to uphold "the prohibition of child labor, forced labor, and all forms of discrimination", "the guarantee of freedom of assembly, association, and collective bargaining", "fair remuneration and respect for working hours", health and safety conditions, and privacy and freedom of expression. "Suppliers are also required to establish grievance mechanisms that are accessible and safe."

Supplier Code of Conduct (pages 129-130). Global in scope, "it applies without exception to all suppliers and their supply chains, regardless of geography, industry, or stakeholder group", with accountability resting with the Chief Operations Officer, and is anchored in the UN Global Compact, the UNGPs, the OECD Guidelines and the ILO Declaration.

Processes for engaging with value chain workers about impacts

Reference: page 130.

"The perspectives of value chain workers are considered through the EcoVadis assessments, which provide an indirect but reliable reflection of their viewpoints via recognized proxies" (page 130). Engagement is therefore indirect, through suppliers rather than with workers themselves.

"Engagement takes place ahead of the roll-out of the EcoVadis survey, which is conducted periodically on a continuous basis. Buyers hold dedicated touchpoints with supplier representatives to share updates on the implementation of the EcoVadis program, including an overview of Ariston Group's objectives and the application of both the Sustainable Procurement Policy and the Code of Conduct's principles. These sessions also serve as a forum for collecting feedback from suppliers, for example, on the existence of already adopted practices."

Accountability and stated limits (page 130). "Responsibility for ensuring that these processes are carried out effectively... lies with the Chief Procurement Officer. At present, the Group acknowledges that it has only partial visibility over workers in its supply chain and has not yet identified specific categories of vulnerable or marginalized groups." Global Framework Agreements with international trade union federations "are not yet in place".

Processes to remediate negative impacts and channels for value chain workers to raise concerns

Reference: page 130; pages 130-131.

"When a supplier is found to be at risk or in breach of human rights obligations - whether due to a specific occurrence, a verified incident, or a self-reported violation of the Group's Code of Conduct - they are required to submit a formal report to Ariston Group. The supplier is expected to act immediately to end the violation. Where this is not possible, remedial measures are agreed with the Group, defined in proportion to the nature and severity of the breach, and implemented without undue delay" (pages 130-131).

Two channels (page 131):

• Supplier-level reporting - "supplier representatives are reminded of their ability to report concerns directly to Ariston Group during regular buyer-supplier meetings".
• Whistleblowing platform - "workers across the supply chain can also access the Group's whistleblowing channel, available through the Corporate Website".

Stated limitation (page 131): "At present, Ariston Group has not introduced specific measures to assess whether workers across the value chain are fully aware of these channels."

Taking action on material impacts on value chain workers

Reference: page 131; pages 131-132.

Supply chain due diligence (page 131). "ESG evaluation has been integrated into every stage of the Supplier Management Process - from supplier selection and onboarding to performance review and improvement planning." Three tools: certification requests; Vendor Portal assessments "mandatory for all suppliers and including ESG-specific questions"; and EcoVadis evaluations, beginning with EcoVadis IQ mapping "the entire supplier base" by sector and geography, then EcoVadis Ratings.

"If a supplier scores below 45/100, Ariston Group collaborates with them to design time-bound Corrective Action Plans (CAPs)... Persistent non-compliance or refusal to engage may lead the Group to reconsider, or ultimately terminate, the business relationship."

"In 2025, the Group launched the second wave of its EcoVadis assessment campaign targeting both suppliers who had previously declined participation and additional partners with whom the Group had less frequent business relationships. Among suppliers considered strategic to the Group and included in the 2030 sustainability target, the coverage rate rose to 75%, up from 66% in 2024."

"No severe human rights issues and incidents in the upstream and downstream value chain have been recorded."

Targets related to managing material negative impacts, advancing positive impacts, and managing material risks and opportunities

Reference: page 132; pages 132-134.

Suppliers' ESG journey (page 133). "100% Strategic Suppliers aligned with our Group ESG journey by 2030"; baseline "First year EcoVadis assessment completed on 65% of strategic suppliers" (2024); 2025 progress 53% of strategic suppliers aligned (score 45). "As of today, ESG assessments have been completed for 73% of strategic suppliers. Of these, 73% achieved a score above 45... Taking into account both assessed and non-assessed suppliers at the denominator, 53% of suppliers show a positive ESG score."

Code of Conduct acceptance (page 133). Rolling target of 100%; baseline 76% (2024); 2025 progress 96% (+20%). The company treats the target as reached, noting the residual 4% are suppliers with their own aligned codes, while adding "Therefore, a comprehensive supplier coverage was not achieved."

ESG assessment coverage (page 133). New target: ">80% of strategic suppliers assessed ESG performance" by 2026; baseline 65% (2024); 2025 progress 73% (+8%).

Local sourcing (page 133). ">75% of products and services purchased from local suppliers" by 2030; baseline 72% (2022); 2024 68%; 2025 66% (-2%). "This trend reflects an evolving procurement approach aimed at responding to changing market demands."

Policies related to consumers and end-users

Reference: page 136; pages 136-137.

Quality Policy (page 136), revised in 2025. It "sets out Ariston Group's commitment to delivering high-quality products, systems and services that meet expectations of comfort, efficiency and dependability, emphasizing the importance of listening to customers, ensuring product safety and reliability throughout the entire lifecycle". It "applies to product and system development, industrialization, the supply chain, services, customer care and quality management activities, and does not indicate any exclusions", references ISO 9001 and the World Class methodology, and is approved by the CEO.

Data Protection by Design and by Default (pages 136-137). A Group procedure applying "to all European legal entities within the Ariston Group", covering new IT systems, services, products or processes involving personal data. It embeds data minimisation ("only processing data strictly necessary for the specified purpose") and purpose limitation, and is "fully aligned with the General Data Protection Regulation (GDPR)". "As an internal operational document, it is not intended for publication."

Processes for engaging with consumers and end-users about impacts

Reference: page 137; pages 137-139.

B2B channels (pages 137-138). A Brand Equity Assessment is carried out every two years under the Voice of Our Professionals initiative. "In the same year, the latest edition of the B2B study was undertaken through a dedicated survey conducted between March and June 2025. The research engaged a representative panel of installers and service centers across Italy, France, Germany, Spain, and the Netherlands, focusing on professionals responsible for installing gas boilers and heating heat pumps." Technical Committees run annually: "In 2025, more than 90 Service Partners participated in three Committees in Italy and the UK, with active involvement from six internal departments."

B2C channels (page 138). A biannual Brand Health Assessment measures meaningfulness, salience and differentiation. "The most recent assessment, conducted in 2024, involved over 7,000 customers across 11 markets, including Germany, Italy, Spain, France, Poland, Romania, Indonesia, Vietnam, Mexico, China and Australia."

Customer Satisfaction Program (pages 138-139), implemented in 2025, combining annual relational surveys tracking NPS, CSAT and CES with transactional surveys, piloted in Italy in 2024 then extended to Spain, Switzerland, the Netherlands and Germany.

Processes to remediate negative impacts and channels for consumers and end-users to raise concerns

Reference: page 139; pages 139-140.

Data Breach Management (page 139). A procedure "fully aligned with GDPR requirements", structured in four phases: "detection of the breach, analysis of its scope and severity, activation of the appropriate response measures, and a final review to consolidate lessons learned". "In cases of significant severity, both the supervisory authorities and the affected individuals are notified within 72 hours."

Corrective and Preventive Measures (pages 139-140). The procedure covers internal quality issues and external customer claims, aiming "to identify non-conformities, analyze their root causes, plan and implement corrective and preventive actions, and verify their effectiveness to avoid recurrence". Serious safety concerns activate crisis protocols led by the Crisis Committee through a stage and gate process with three gates, using the RAPID decision model. A separate Field Action Management procedure covers defects without potential safety risk. "Overall accountability lies with the Head of Quality... with approval from the Group's CEO."

Taking action on material impacts on consumers and end-users, and approaches to managing material risks and pursuing material opportunities

Reference: page 140; pages 140-144.

B2B actions (page 141). Technical Committees in 2025 drew "more than 90 Service Partners... in three Committees in Italy, UK and Mexico". The World Class Service framework began implementation in 2025, "structured around three key pillars: Organization, Methods and Standards, and Performance", targeting "zero wait times, the highest first-time resolution rate, and sustainable service performance".

B2C actions (page 144). "In 2025, the European Call Centers managed more than 310,000 incoming calls, achieving a 96% response rate and an average waiting time of just 24 seconds... the service operates daily across Eastern and Western Europe, covering 11 markets and 11 languages."

Service feedback (page 144). Wolf implemented QR codes after every service interaction, with escalation "if a customer requests to be contacted or if comments indicate the need for direct follow-up action". QR codes on spare parts provide "material numbers, SKU descriptions in 14 languages, complete substitution chains, as well as production lot numbers", with recycling and disposal guidance currently available for Italy and France.

Targets related to managing material negative impacts, advancing positive impacts, and managing material risks and opportunities

Reference: page 144; pages 144-147.

Excellent service delivery (pages 144-145). "Deliver excellent, tailored solutions and services to B2B and B2C customers by 2030", baseline 2022. 2025 progress lists the B2B Brand Equity Assessment, Technical Committees, World Class Service implementation, the Heat Pump Academy, Ariston NET and NET Pro updates, the Customer Satisfaction Program, "AI adoption to streamline technical interventions" and Oracle Field Service. The company concedes the target is not yet quantified: "In the future, the possibility of increasing the level of concreteness will be evaluated by defining a single, comprehensive indicator" (page 145).

Digital reach (page 146). "+30% organic clicks on main Group brand websites" by 2030; baseline over 5.7 million (2024); 2025 progress 5.4 million (-5%). "The 2025 value decreased compared to the previous year, suggesting that the integration of AI into the Google search engine has impacted the relevance of the metric... Accordingly, the target is expected to be reassessed in 2026."

Quality (page 146). ">85 quality score per year in the cumulative GQE index" by 2030; baseline 82 (2022); 2024 95.4; 2025 86.3 (-9.1). "While the annual target was achieved, the level of overachievement was lower than in the previous year."

Business conduct policies and corporate culture

Reference: page 148; pages 148-153.

Code of Ethics (pages 148-149). "Developed with input from stakeholders, the Code has been revised in 2025 to address evolving priorities such as diversity, inclusion, and harassment." Partners including suppliers, consultants, agents and dealers are required to adopt it. "Responsibility for drafting and updating the Code of Ethics rests with the HR and Legal Department, while its application is overseen by the Audit and Sustainability Committee through internal audit activities."

Functions most at risk (page 149). A Legislative Decree 231/2001 risk assessment found "the highest-risk areas are linked to interactions with public entities - such as inspections, relations with public officials, customs compliance, and the management of grants or public funding", naming Accounting and Administration, Tax, HSE, HR, Plant Directors, Supply Chain and Operations, and Legal and Corporate Affairs.

Other instruments (pages 149-153): an Organization and Management Model under Decree 231/2001; an Antitrust Policy and Vademecum; a Trade Compliance Manual updated in 2025 with a mandatory "No Russia/Belarus Clause"; an Anti-Corruption Code of Conduct drafted in 2025 for adoption "in early 2026"; the Whistleblowing Policy and Privacy Policy; and five ICT and information security policies.

Prevention and detection of corruption and bribery

Reference: page 156; pages 149, 156-157.

"The Whistleblowing Policy establishes clear procedures to prevent, detect and address incidents of corruption and bribery, in line with Directive (EU) 2019/1937 and Legislative Decree 231/2001" (page 156).

Investigation and separation from management (page 156). "The Whistleblowing Internal Committee, composed of senior representatives including the Head of Internal Audit and the Group HR&O Director, is responsible for overseeing investigations. Should any member of Internal Audit or HR&O be implicated in a case, they are automatically excluded from the process and investigations are conducted by independent internal teams or external experts to ensure impartiality and separation from the management line concerned."

Training (pages 156-157). Trade Compliance Manual training targets "employees whose roles are particularly exposed to compliance risks - such as those in sales or marketing - regardless of seniority". Antitrust training is automatically provided to all new hires, and "The percentage of employees at risk covered by training program for 2025 financial year accounted for 12% on the total population included in the at-risk perimeter. The 2025 data do not include employees trained in previous years, whose competencies were therefore already developed through earlier editions."

Targets related to business conduct

Back-filled from MDR-T "Tracking effectiveness of policies and actions through targets", which is listed in the ESRS content index under G1 (pages 62, 155). G1-3 became a standalone disclosure requirement only in the 2025/2026 ESRS.

Reference: page 155; pages 155-156.

Governance standards (page 155). An absolute qualitative 2030 target of "Ongoing yearly commitment to meet high governance standards on sustainability", baseline 2023. 2025 progress: the ICT Roadmap and Cyber Security GRC Master Plan; "Development of an Anti-Corruption Code of Conduct"; "Incorporation of Diversity, Inclusion and Harassment Prevention into the Code of Ethics"; and whistleblowing platform awareness videos. "As of today, there is no standard that can be considered perfect; therefore, continuous improvement itself constitutes the standard."

Board gender balance (page 156). At least 50% female and 50% male executive directors by 2028: 2025 progress 0% female, 100% male, unchanged. At least 33% of each among non-executive directors by 2027: 2025 progress 44% female (+11%), target met and extended.

Antitrust training (page 156). Rolling target of "100% of employees in risk fields trained on Anti-Trust"; baseline 71% (2024); 2025 progress 53% (expanded perimeter). "In 2025, the scope of employees at risk was significantly expanded, resulting in lower coverage."

Incidents of corruption or bribery

Reference: page 157.

"No cases of corruption or bribery, nor any related fines, were reported in 2025. Furthermore, the Group continued to monitor potential corruption risks not only within its own operations but also across the wider value chain, wherever its employees were directly involved" (page 157).

Appendix B records G1-4 paragraph 24(a), fines for violation of anti-corruption and anti-bribery laws, and paragraph 24(b), standards of anti-corruption and anti-bribery, as datapoints deriving from other EU legislation and reported in the governance information section (page 64).

Related figures sit under S1-17 rather than G1-4: seven incidents of discrimination including harassment were reported in 2025, down from 18 in 2024, with no fines, penalties or compensation (page 127). "Additionally, none of the reports filed in 2025 resulted in sanctions or penalties issued by Authorities and no severe human rights incidents have been reported."

A nil return is the whole disclosure here: the report gives no number of confirmed incidents in which employees were dismissed or disciplined for corruption, and no incidents relating to contracts with business partners, because none occurred.