Atria

The role of the administrative, management and supervisory bodies

Administrative structure

Atria Plc is a Finnish limited liability company, and the responsibilities and obligations of its governing bodies are determined by Finnish law. The parent company, Atria Plc, and its subsidiaries form the international Atria Group. The company is domiciled in Kuopio. Responsibility for the administration and operations of Atria Group lies with the governing bodies of the parent, Atria Plc. These are the Annual General Meeting, the Supervisory Board, the Board of Directors and the CEO.

Supervisory Board

The Supervisory Board oversees the company's management, which is the responsibility of the Board of Directors and the CEO, gives instructions to the Board of Directors on matters that are far-reaching or fundamentally important, and gives its opinion to the Annual General Meeting on the financial statements and the auditor's report.

Composition of the Supervisory Board

As of 31 December 2024, the Supervisory Board consisted of 19 members:

• Total members: 19
• Gender split: 3 women (16%), 16 men (84%)
• Independence: None of the members are employed by the Atria Group. All members are dependent on the company, and 47% are independent of the company's significant shareholders.

Leadership:

• Chairperson: Jyrki Halonen
• Deputy Chairperson: Juho Anttikoski

Expertise: The members have experience in the meat business and various production sectors of the industry. The members represent different geographical areas of Finland based on their places of residence or production sites.

Board of Directors

Composition of the Board of Directors

As of 31 December 2024, the Board of Directors consisted of 8 members:

• Total members: 8
• Gender split: 2 women (25%), 6 men (75%)
• Independence: 37.5% of the Board members are independent of the company and 75% are independent of the company's significant shareholders. None of the members of the Board of Directors is employed by the Atria Group.

Expertise: The members have experience in different parts of Atria's business value chain, extensive experience in business operations, as well as the expertise and understanding of international business required for the implementation of the company's strategy. Through their experience in agriculture and business, the members of the Board of Directors have expertise in sustainability issues and related impacts, risks and opportunities related to, for example, climate impacts, their own workforce and animal welfare.

Responsibilities of the Board of Directors

Atria's Board of Directors is in charge of the company's administration and the appropriate organisation of its operations. The Board of Directors is responsible for the appropriate organisation of the supervision of the company's accounting and asset management. The Board of Directors is the highest authority responsible for the Group's strategy, which also includes sustainability aspects.

The Board of Directors regularly monitors sustainability issues, assesses potential risks, impacts and opportunities, and ensures that the Company complies with all applicable regulations and standards in accordance with due diligence processes.

Rules of procedure: Atria's Board of Directors has approved written rules of procedure on the Board's tasks, matters to be discussed, meeting practices and decision-making procedure. According to the rules of procedure, the Board of Directors discusses and decides on significant matters related to the company's strategy, investments, organisation and financing. According to the rules of procedure, the Board of Directors monitors and evaluates the effectiveness of the company's internal control and audit as well as risk management systems. In addition, the Board of Directors monitors and evaluates the Group's financial and sustainability reporting system and monitors and evaluates the audit of the financial statements and the consolidated financial statements and sustainability reporting assurance.

External expertise: The Board of Directors has the possibility to use external experts in matters related to sustainability, among other things.

Board Committees

Nomination and Remuneration Committee

The Board of Directors has one committee, the Nomination and Remuneration Committee. The Board of Directors appoints the members of the Committee from amongst its members according to the rules of procedure of the Committee.

Composition:

• Chairman: Seppo Paavola
• Members: Pasi Korhonen, Leena Laitinen
• Gender split: 1 woman (33%), 2 men (67%)
• Independence: One member (33%) is independent of the company and two (67%) are independent of significant shareholders

Responsibilities: The Committee has no autonomous decision-making power. Decisions are made by the Board of Directors on the basis of the Committee's preparations and proposals. The purpose is to:

• Prepare the CEO's and Deputy CEO's elections and the management's terms of employment
• Ensure the objectivity of decision-making
• Enhance the achievement of the company's goals through bonus schemes
• Increase the company's value
• Ensure that bonus schemes are transparent and systematic
• Ensure that merit pay systems are linked to the company's strategy and the results obtained

Management Team

Composition of the Management Team

As of 31 December 2024, Atria Plc's Management Team included the following members:

• Kai Gyllström, CEO

• Tomas Back, CFO, Deputy CEO

• Mika Ala-Fossi, Executive Vice President, Atria Finland business area

• Jarmo Lindholm, Executive Vice President, Atria Sweden business area

• Meelis Laande, Atria Estonia's CEO (as of 1 April 2024)

• Lise Østergaard, Atria Denmark's CEO (member as of 1 January 2024)

• Jennifer Paatelainen, HR Director (as of 8 January 2024)

• Pasi Luostarinen, Executive Vice President, Marketing & Market Insight

• Merja Leino, Executive Vice President, Sustainability

• Total members: 9

• Gender split: 3 women (33%), 6 men (67%)

Responsibilities: The members of the Atria Group Management Team report to the CEO of Atria Plc. The Management Team assists the CEO in planning the operations and in operational management. The duties include:

• Preparing strategic plans and putting them into practice
• Handling significant projects and organisational changes
• Reviewing and implementing the Group's risk management measures in their respective areas of responsibility

Employment: The members of Atria Plc's Management Team are employed by Atria.

Nomination Committee (Shareholder-appointed)

The following were elected to Atria Plc's Nomination Committee, appointed by the AGM:

• Juho Anttikoski, Farmer, chair of the Nomination Committee, representative of Itikka Cooperative

• Jyrki Halonen, Farmer, representative of Lihakunta

• Kjell-Göran Paxal, Farmer, representative of Pohjanmaan Liha

• Timo Sallinen, Director, Equities, representative of Varma Mutual Pension Insurance Company

• Seppo Paavola, Agrologist, expert member, Chairperson of Atria Plc's Board of Directors

• Total members: 5

• Gender split: 100% men

• Independence: 80% of the members are dependent on the company. None of the members are dependent on significant shareholders. None of the members are employed by the Atria Group.

Worker representation

There is no representation of employed workers in Atria's administrative and supervisory bodies. The employees' representatives are informed and consulted about the company's decision-making through the European Works Council (EWC), which is described on page 118.

Sustainability governance

The Board of Directors and the members of the Atria Group Management Team are in charge of identifying and assessing strategic and operational risks as well as implementing risk management in their respective areas of responsibility. Strategic and operational risks, including material impacts, risks and opportunities, are addressed by the Board of Directors and the Management Team at least annually (strategic risks once a year and operational risks once a year) and additionally separately for each significant business decision. At the same time, decisions are made concerning measures related to the management of impacts and risks.

The Group's administrative, management and supervisory bodies use external assistance as necessary to develop risk management competence and expertise (incl. in relation to sustainability). The need for special skills and training is determined through internal verifications and evaluations.

The identification, management, monitoring and reporting of sustainability-related impacts, risks and opportunities are included in Atria's risk management processes. The identified risks, opportunities, measures and monitoring are accountable with the owners of the relevant risks and responsible stakeholders.

Reference: pages 71-72

The ESRS index lists GOV-2 at pages 71-72 of the Board of Directors' report (BD). Those pages say the Board of Directors "regularly monitors sustainability issues, assesses potential risks, impacts and opportunities" and monitors and evaluates the Group's financial and sustainability reporting system and the sustainability reporting assurance (p.72). Under its rules of procedure it also monitors the effectiveness of internal control, audit and risk management systems (p.72). The Board can use external experts on sustainability matters (p.72). Board members have expertise in climate impacts, own workforce and animal welfare (p.71), and the Board is the highest authority for the Group's strategy, which includes sustainability aspects (p.71). The pages do not state how often sustainability matters are on the Board's agenda. The Board first discussed the double materiality results in May 2024 and approved them in October 2024 (p.84).

Integration of sustainability-related performance in incentive schemes

Roles covered

The integration of sustainability-related performance in incentive schemes applies to:

• CEO
• Deputy CEO

Long-term incentive (LTI) scheme structure

Atria operates a performance-based long-term incentive plan for the CEO and Deputy CEO. The plan is based on the company's earnings per share (EPS, 70 percent) and organic growth (30 percent).

The bonuses, payable partly in shares and partly in cash, are paid in three equal instalments over the three years following the earnings period, partly in Atria shares and partly in cash. The cash component is intended to cover taxes and statutory social insurance contributions arising from the bonus for the CEO and Deputy CEO.

Note: On 18 December 2024, the Board of Directors decided that Atria's long-term incentive plan will be replaced in 2025 by a performance-based share incentive scheme in accordance with market periods of one year: the financial periods of 2025 and 2026.

LTI performance periods and targets

Payouts in 2024

In 2024, the CEO was paid the bonus accumulated during the earnings period for 2023 under the long-term incentive plan for 2021–2023, which corresponded to the total value of 1,485 Atria series A shares. The bonus was paid in 594 Atria series A shares and as a cash component of EUR 8,515.

The Deputy CEO was paid the bonuses accumulated during the earnings periods for 2021, 2022 and 2023 under the long-term incentive plan for 2021–2023, which corresponded to the total value of 4,535 Atria series A shares. The bonuses were paid in 1,814 Atria series A shares and as a cash component of EUR 26,013.

Additional provisions

If the employment relationship of the CEO or Deputy CEO ends before the payment of the bonus, the bonus may not be paid. There are no restrictions relating to the ownership of awarded shares.

Total remuneration (CEO and Deputy CEO)

Reference: page 133

The ESRS index lists GOV-4, "Statement on sustainability due diligence", at page 133. That page is a table that maps each key element of the due diligence process to pages of the sustainability statement: (a) integration of due diligence into governance, strategy and business model, pages 125-127; (b) interaction with affected stakeholders at all key stages, pages 86-87, 118 and 127; (c) identification and evaluation of adverse effects, pages 86-87, 118 and 127-128; (d) taking action to combat these adverse effects, pages 86-87, 118 and 127-128; (e) monitoring and communicating the performance of these activities, pages 71-72 and 127. The table has no narrative of its own. The supplier due diligence process it points to is described on page 127 as following "a systematic and risk-based approach".

Reference: pages 65-70

The ESRS index lists GOV-5 at pages 65-70 of the Board of Directors' report. These pages describe Atria's group-wide risk management, not a separate control process for sustainability reporting. The Board approves the risk management policy and supervises its implementation, and "The identification, management, monitoring and reporting of sustainability-related impacts, risks and opportunities are included in Atria's risk management processes" (p.65). Risks are grouped as strategic, operational, liability and financial (p.65). The Board and the Management Team address strategic and operational risks, including material impacts, risks and opportunities, at least annually (p.65). The Group's Risk Manager reports at least once a year to the Management Team and the Board, and findings of risk assessments and internal control, including sustainability-related findings, are led into business practices through the management systems (p.66). Pages 67-70 table the main risks and how each is managed, including climate, food safety, biosafety and personnel risks.

Strategy, Business Model and Value Chain

Strategy 2021-2025: Winning Northern European Food Company

Atria's strategic goal is renewal and growth that allows us to become the Winning Northern European Food Company. Atria's renewal and growth are based on:

• strong financial performance • the most desired brands • best partnership with our customers and owner-producers • leadership in sustainability • committed people • commercial excellence

A key element of Atria's excellent competitiveness and profitable growth is its strong market position in its various business areas. In its main product categories, Atria is the market leader or a strong second.

Atria Group's main objective is to grow faster than the market. Growth is sought where it is possible: • poultry products • convenience food • Foodservice products and fast food

Business Model and Value Chain

Atria is one of the leading food companies in Northern Europe. We have been producing food for people for 120 years. Our main product, good food, creates a better mood and sustainable value for all our stakeholders.

Operating Model:

• Primary Production through contract farms
• Atria's Industrial and Commercial Operations with strategy for 2021–2025: Winning Northern European Food Company
• Production processes focused on efficiency
• Commercial processes emphasizing commercial excellence
• Value and management processes guided by Atria's Way of Work and Way of Leading, with sustainability integration

Business Areas:

• Atria Finland: EUR 1,295.6 million net sales (72.7% of Group), 2,594 employees (67.1% of Group)
• Atria Sweden: EUR 360.2 million net sales (20.2% of Group), 829 employees (21.5% of Group)
• Atria Denmark & Estonia: EUR 125.9 million net sales (7.1% of Group), 441 employees (11.4% of Group)

Value Creation:

For Producers and Partners: • Total purchases and other expenses: EUR 1,421.3 million

For Customers: • Sales to consumer product and primary production customers: EUR 1,759.9 million

For Personnel: • Total salaries and bonuses: EUR 217.0 million • 3,864 food-industry experts (FTE)

For Society: • Corporate taxes and social security expenses: EUR 64.3 million

For Shareholders and Financiers: • Dividends: EUR 19.0 million • Financial income and expenses: EUR -15.4 million

Stakeholder Engagement

Key Stakeholders and Engagement

Owner-Producers: Atria values good relationships with its owner-producers and is the best partner for contract producers. Atria's goal is to offer the best sales channel for the raw material produced by contract producers in Finland and promote close cooperation throughout the production chain.

• Atria and Valio have developed a Carbo® calculator for dairy farms, beef and suckler cow farms to help calculate climate impact and reduce CO2 emissions
• Atria 100 Young Producers training programme - second programme started in autumn 2024 with more than 30 young producers to promote continuation of valuable work carried out on family farms
• Support for more than 4,000 contract farms

Customers: Many customer projects related to the consumer experience were carried out to improve partnerships.

Employees:

• Atria Growth Engine innovation programme brought together 26 Atria employees from different countries to find new perspectives on future business
• Employee survey conducted in October 2024 showing employee engagement index at 76.3%
• Atria BBQ (Business, Buzz & Questions) virtual events held three times during the year with more than 400 employees attending each event
• Focus on strengthening cross-border cooperation and increasing internal communication

Communities: Support for public and private organisations and associations, including ones working with children and young people's physical exercise and competitive sports.

Consumers: Atria wishes to enable consumers and customers to make sustainable choices and promote the wellbeing of the environment and people through safe, healthy and responsibly produced food.

Material Impacts, Risks and Opportunities

Material Sustainability Themes

Atria has identified three key themes of sustainability work that represent material impacts:

Planet: We work to mitigate climate change and improve energy efficiency. We are actively reducing our carbon dioxide emissions and other environmental impacts of our operations, both in our own production and across the food chain, from field to fork.

The most significant environmental impacts of the food chain arise from primary production. This is why we offer support to farms in the development of sustainable primary production.

Product: We want to provide safe, clean and nutritious food, increase the number of antibiotic-free products and lead the way in improving animal welfare and health together with our producers. We aim for zero animal welfare violations. Traceability of raw materials and biosecurity throughout the production chain contribute to a sustainable and safe food chain.

People: Our goals are to promote equality, safeguard human rights and ensure people's wellbeing. At the heart of our personnel responsibility are our employees' health and safety, fair employment relationships and competence development. Atria is also aware of its social responsibility towards its producers and the youth of its stakeholders.

Strategic Integration

Sustainability is an integral part of Atria's strategy, business and daily work. It covers the entire value chain – from family farms to people's dining tables. The goal of leading the way in sustainability is one of the main objectives of our Group strategy.

Climate-related Risks and Opportunities

Science-Based Targets:

• Committed to reducing greenhouse gas emissions from own operations (Scopes 1 and 2) by 42 percent by 2030 from 2020 levels
• Reduction target for Scope 3 emissions is 20 percent per tonne of processed meat by 2030

Investment Opportunities:

• Biogas plant investment in Nurmo with Suomen Lantakaasu (more than EUR 60 million)
• Electric boilers at Nurmo plant reducing emissions by more than 30 percent
• New poultry plant representing EUR 165 million investment with improved efficiency

Materiality Assessment Process

From the beginning of 2025, Atria is covered by the Corporate Sustainability Reporting Directive (CSRD). We have been working diligently to develop our CSRD reporting capabilities so that we are ready to report our sustainability data for 2024 in compliance with the Directive for the first time.

In 2025, we will focus on developing Atria's new strategy and, at the same time, will be working on a new sustainability strategy. The work makes use of the CSRD reporting framework and the relevant themes defined using double materiality assessment.

Key Sustainability Themes Identified: The company has identified three main themes for sustainability work based on materiality:

• Planet - climate change mitigation, energy efficiency, environmental impacts
• Product - food safety, nutrition, animal welfare, traceability
• People - employee wellbeing, human rights, social responsibility

Environmental Impact Assessment: In 2025, we will continue our work on environmental impacts: we have built an action plan on environmental impacts that covers the entire food chain.

Reference: pages 129-132

The ESRS index lists IRO-2 at pages 129-132 of the sustainability report. Those pages are the content index tables: ESRS 2 general disclosures (p.129), E1 Climate change and E5 Resource use and circular economy (p.130), S1 Own workforce and S4 Consumers and end-users (p.131) and G1 Business conduct (p.132). A due diligence table follows on p.133. Each row gives the section (SR, BD or FS) and the page. Page 129 says all disclosure requirements of the thematic standards E2, E3, S2 and S3 "are omitted from the tables as they are below the materiality threshold for reporting"; E4 does not appear in the tables either. Rows with no page carry a note: E1-7 (carbon credits are not enabled), E1-8 (no internal carbon pricing applied), E1-9 and E5-6 ("Not reported with a transition period"), S1-7, S1-12, G1-5 and G1-6 (not relevant).

Transition Plan for Climate Change Mitigation

Atria's most important environmental goal is to reduce greenhouse gas emissions throughout the Atria food chain. During 2024, we adopted our green transition plan and identified measures to move towards our goals, both in terms of plant operations and the supply chain.

Science-Based Targets

Atria is committed to reducing the greenhouse gas emissions of its own operations (Scopes 1 and 2) by 42 percent by 2030 from our 2020 levels. The reduction target for Scope 3 emissions is 20 percent per tonne of meat processed by 2030.

Key Measures

Own Operations (Scopes 1 & 2):

• Investment in electric boilers at Nurmo plant reducing carbon dioxide emissions by more than 30 percent
• Biogas plant investment in Nurmo with Suomen Lantakaasu (more than EUR 60 million investment) for renewable domestic energy production
• Focus on energy solutions including increasing use of renewable energy sources

Supply Chain (Scope 3):

• Carbo® calculator developed with Valio for dairy farms, beef and suckler cow farms to calculate climate impact and reduce CO2 emissions - introduced to all Atria's contract farms in 2024
• Support for sustainable primary production development on farms
• Biogas plant will particularly help reduce climate emissions from primary production of pork and beef

Progress Monitoring

Scope 1 & 2 emissions reduced by 17.9% from 2020 level as of 2024.

Climate Change Policies

Sustainability is an integral part of Atria's strategy, business and daily work. The goal of leading the way in sustainability is one of the main objectives of our Group strategy.

Climate Policy Framework

Planet Theme: We work to mitigate climate change and improve energy efficiency. We are actively reducing our carbon dioxide emissions and other environmental impacts of our operations, both in our own production and across the food chain, from field to fork.

Science-Based Commitment

The targets approved by the Science Based Targets initiative mark Atria's commitment to reducing the greenhouse gas emissions from its own operations (Scopes 1 and 2) by 42 percent by 2030 from 2020 levels. The reduction target for Scope 3 emissions is 20 percent per tonne of processed meat by 2030.

Policy Implementation

Direct Operations:

• Managing direct climate and environmental impacts by improving energy efficiency
• Increasing use of renewable energy sources
• Reducing use of fossil raw materials

Supply Chain:

• Offering support to farms in the development of sustainable primary production
• Environmental calculator implementation across contract farms
• Promoting sustainable practices throughout the value chain from field to fork

Climate Change Actions and Resources

Major Investments and Actions in 2024

Energy Transition Investments:

• Electric boilers at Nurmo plant - decided to invest, will reduce carbon dioxide emissions of heat production by more than 30 percent
• Biogas plant in Nurmo - Atria Finland and Suomen Lantakaasu investing more than EUR 60 million in construction of 100 GWh renewable biofuel production, expected completion 2026
• Atria Finland is minority shareholder in Nurmon Bioenergy Oy implementing the biogas plant investment

Supply Chain Actions:

• Carbo® environmental calculator - developed with Valio and introduced to all Atria contract farms (more than 1,200 contract manufacturers)
• Calculator helps farms calculate their climate impact and take appropriate measures to reduce CO2 emissions
• Sustainability index piloted with contract producers in Atria Pork chain providing comprehensive information about each farm's environmental impact

Operational Efficiency:

• Commissioning of new Nurmo poultry plant (EUR 165 million investment) with most modern technology and energy efficiency
• Industrial efficiency improvements bringing structural and major energy savings, especially at Tranås plant and in primary poultry production

Resource Allocation

• Research and development: EUR 14.8 million
• Total investments: EUR 39.6 million
• Energy consumption: around 488 GWh, of which renewable sources represent around 27 percent

Climate Change Targets

Science-Based Targets

Atria has committed to science-based targets approved by the Science Based Targets initiative:

Scope 1 & 2 Emissions:

• Target: Reduce greenhouse gas emissions from own operations by 42 percent by 2030 from 2020 levels
• Progress: 17.9% reduction achieved from 2020 level as of 2024

Scope 3 Emissions:

• Target: Reduce Scope 3 emissions by 20 percent per tonne of processed meat by 2030

Supporting Targets

Carbon Neutral Food Chain: A carbon neutral food chain is our main goal. We are developing our sustainable operations in increasingly close cooperation with our supply chain partners.

Energy Efficiency: Improving energy efficiency across operations, with renewable energy sources representing around 27 percent of total energy consumption of approximately 488 GWh.

Energy consumption and mix

Total energy consumption and mix (2024)

Percentage of energy sources

• Share of fossil energy sources in total energy consumption: 36%
• Share of total energy consumption accounted for by nuclear power sources: 38%
• Share of renewable energy sources in total energy consumption: 27%

Energy intensity

• Energy intensity based on net sales: 275 MWh / EUR million
• Energy intensity based on production volume: 0.723 MWh/t

Energy consumption by business area (2024, MWh)

Scope and methodology: Energy consumption includes Atria Group's production facilities and premises. Energy consumption is expressed as the end use of energy, combining fuel consumed in factories, self-generated solar power, and purchased electricity and heat. Untraceable electrical energy is reported to fossil energy sources in accordance with the prudence principle. Statistics Finland's coefficients are used to calculate the energy contained in different fuels. New production facilities are considered from the moment they start production.

Gross Scopes 1, 2, 3 and Total GHG emissions

Greenhouse gas emissions in the Atria Group

*The figures for the base year 2020 are not verified by the sustainability reporting assurance authority.

Scope 3 breakdown by material categories

**The other scope 3 categories for the base year 2020 are reported together as they are a top-level estimate of the emissions mapping phase. The estimate includes services from category 1 and categories 2-15. The estimate for the reporting year 2024 includes the following categories: 1 Services, 2 Investments in working capital and 6 Business-related travel. For the reasons mentioned above, the change in scope 3 emissions and total greenhouse gas emissions between the base year 2020 and the reporting year 2024 does not reflect the actual reduction in greenhouse gas emissions.

Total greenhouse gas emissions

GHG intensity

Biogenic carbon emissions

Greenhouse gas emissions by business area (2024)

Methodology and scope notes

Organisational boundary: Atria reports greenhouse gas emissions using operational control approach. The 2024 reporting includes all production facilities and properties included in financial reporting. Scope includes Atria Finland (7 plants plus feed production), Atria Sweden (7 factories), Atria Denmark (2 factories), and Atria Estonia (1 plant plus primary production operations).

Scope 1: Covers direct emissions from energy sources owned or controlled by Atria, including fuels used for heating and production. Calculation based on fuel consumption data (oil, gas, peat, bio-based fuels). Emission factors from Statistics Finland (CO₂) and DEFRA 2024 (CH₄ and N₂O). Excludes refrigerant leaks (estimated <5% significance threshold) and company vehicles (estimated 0.9% of Scope 1+2).

Scope 2: Covers indirect emissions from purchased electricity, steam, heat and cooling. Both location-based and market-based methods reported.

• Market-based: Uses supplier-specific emission factors for purchased energy, with residual mix factors (AIB 2023) for untraceable electricity
• Location-based: Uses national average emission factors from JRC NEEFE (2022 data)

Scope 3: Calculation covers categories representing >95% of total Scope 3 emissions estimated in 2020 base year survey. Includes:

• Category 1 (Purchased goods and services): Meat raw materials from Finnish contract production calculated using farm-level LCA data (Tier 3) for chicken (85% coverage, 2.4 kg CO₂e/kg CW), research-based factors for pork (3.2 kg CO₂e/kg CW for farm-traceable, 3.5 kg CO₂e/kg for conventional) and beef (19.5 kg CO₂e/kg CW for dairy-connected, 33.6 kg CO₂e/kg for specialized production). Internationally procured meat, other edible raw materials and packaging materials calculated using secondary emission factors from databases (RI.SE, Big Climate Database 1.2, LUKE, AgriFootprint, Ecoinvent 3.11). Services estimated using cost-based Exiobase factors.
• Category 2 (Capital goods): Cost-based estimate using Exiobase factors, included in "other scope 3 categories"
• Category 3 (Fuel and energy-related activities): DEFRA 2024 factors for life-cycle emissions of fuels and transmission/distribution losses
• Category 4 (Upstream transport and distribution): Primary data from Tuoretie Oy for domestic transports (73% primary data coverage), Maersk for container transports, scaled to Group level
• Category 6 (Business travel): Cost-based estimate using Exiobase factors, included in "other scope 3 categories"
• Category 15 (Investments): Scope 1+2 emissions from joint ventures Länsikalkkuna Oy and Honkajoki Oy reported at 50% ownership share

Excluded Scope 3 categories: 5 (Waste), 7 (Employee commuting - 0.3% estimated), 8 (included in Scope 1+2), 9 (Downstream transport - 1.3% estimated), 10 (Processing of sold products - <5% estimated), 11 (Use of sold products - not relevant for food), 12 (End-of-life - 0.7% estimated), 13 (Downstream leased assets - not significant), 14 (Franchises - none).

Changes from base year: Added Pietarsaari plant (2.1% of Scope 1+2), real estate energy consumption (1.7% of Scope 1+2), Gooh AB Järna plant from September 2024 (0.03% of Scope 1+2), and Atria Estonia primary production operations (1.8% of Scope 1+2). Divested Best-in pet food business (January 2024). All changes below 5% recalculation policy threshold.

SBTi targets: Atria committed to reduce Scope 1+2 emissions by 42% by 2030 from 2020 levels (market-based), and Scope 3 emissions by 20% per tonne of processed meat by 2030 from 2020 levels.

Anticipated financial effects from material physical and transition risks and potential climate-related opportunities

Phase-in exemption statement

Atria has elected to use the transition period for reporting anticipated financial effects. The disclosure requirement E1-9 is listed in the ESRS index table as "Not reported with a transition period".

Qualitative description of risks

The key physical risks and transition risks identified in the scenario analysis primarily affect Atria's value chain.

Physical risks:

Medium- and long-term physical risks include the direct impacts of climate change on agriculture. They can change production conditions and thus affect the availability and price of raw materials.

Transition risks:

Transition risks related to climate change mitigation and adaptation may weaken the company's competitiveness in the medium and long term if the costs related to emission-reducing technologies and adaptation measures cannot be covered by sales revenue or other revenues. Thus, economic factors may cause greenhouse gas emissions to be locked, which could jeopardize the achievement of Atria's emission reduction targets.

Energy-related medium- and long-term transition risks are managed through energy planning. Energy planning aims at achieving emission targets and managing energy price risks.

Risk management approaches

The physical risks of the value chain have been prepared for by developing the flexibility of supply chains and the versatility of supply sources. The most significant emission reduction targets in the value chain primarily concern Atria's direct contract-based primary production.

Identification of climate-related risks and scenario analysis

Back-filled from ESRS 2 IRO-1 (pages 86-87), the E1 IRO table (page 89) and the E1 chapter (page 100); the ESRS index routes climate risk identification to "ESRS 2, IRO-1 ... SR 86-87" (page 130). E1-2 did not exist under the 2023 ESRS.

Methodology (page 87). Climate risks were assessed "over the short, medium, and long-term ... in accordance with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD)". Physical risks "were evaluated in line with the Commission Delegated Regulation (EU) 2021/2139", which classifies temperature, wind, water and soil threats as chronic or acute. Transition risks follow the TCFD categories: regulatory, technology, market, reputation.

Horizons (page 87): short 12 months, medium 1-5 years (strategy period), long beyond 5 years. Scope (page 87): own industrial production and products, value chain "focused mainly on first tier suppliers".

Scenarios (page 87). "The assessment assumptions were based on scenarios from the IPCC Sixth Assessment Report and reports from the World Meteorological Organization (WMO)." No individual scenario is named and no per-scenario temperature projection is given. The SBTi target uses "an industry-independent 1.5°C scenario" (page 100).

Risks "identified in the scenario analysis primarily affect Atria's value chain" (page 100); page 89 labels adaptation and SBTi Scope 3 cost risks as transition risks.

Resilience in relation to climate change

Back-filled from the Board of Directors' report, "Sustainability Goals" (page 53), ESRS 2 IRO-1 (page 87) and the E1 transition programme (page 100). E1-3 did not exist under the 2023 ESRS.

Atria states that a full resilience analysis has not yet been carried out. "Atria has carried out a climate risk assessment covering the entire value chain in accordance with the TCFD framework ... The results of the climate risk assessment presented in section E1 Climate Change indicate that Atria's business has the potential to adapt to various impacts of climate change. A more comprehensive resilience analysis of the strategy and business model's climate sustainability will be conducted in conjunction with the Group's strategy update in 2025" (page 53).

The same page records that "During the transition period, Atria does not assess the financial impacts of material effects and risks", matching E1-9 being marked "Not reported with a transition period" in the ESRS index (page 130).

On adaptive capacity, Atria is committed "to developing its business resilience to the impacts of climate change" (page 100) and reports that "So far, Atria has not identified any assets or business operations that would be incompatible with the transition to a climate-neutral economy" (page 87). Value chain physical risks "have been prepared for by developing the flexibility of supply chains and the versatility of supply sources" (page 100).

Resource Use and Circular Economy Policies

Circular Economy Approach

Food production is based on a circular economy. More than 99 percent of all materials are utilised.

Waste Reduction

We manage our direct environmental impacts by:

• Reducing waste
• Using water and other natural resources sustainably
• Developing ecological packaging solutions
• Reducing the use of fossil raw materials

Resource Efficiency

The biogas plant investment in Nurmo will create a circular economy solution by producing renewable domestic energy and various types of bio-fertilisers from:

• Manure obtained from farms in the South Ostrobothnia region
• Agricultural and food industry side streams

Resource Use and Circular Economy Actions

Circular Economy Implementation

Material Utilization: More than 99 percent of all materials are utilised in food production based on circular economy principles.

Biogas Plant Initiative: Atria Finland and Suomen Lantakaasu are investing more than EUR 60 million in a biogas plant in Nurmo that will:

• Handle agricultural and food industry side streams
• Process manure from South Ostrobothnia region farms
• Produce renewable domestic energy
• Create various types of bio-fertilisers
• Generate approximately 125 GWh of liquefied biogas per year with potential additional investment

Resource Efficiency Measures:

• Industrial efficiency improvements bringing structural savings
• Development of ecological packaging solutions
• Reduction of fossil raw materials usage
• Sustainable use of water and natural resources

Reference: page 113

The ESRS index lists E5-3 at page 113. The Targets section of that page is qualitative. Atria states "Atria's own goal is to maximise the utilisation rate of the inflow resources used", and says business planning rests on process-specific sales and acquisition targets. In meat cutting and processing the best use of raw material is a significant economic factor, so the circular economy objectives are "closely linked to the achievement of financial objectives". The stated objective of packaging development is to prevent waste and food waste in line with the waste hierarchy, and the EU Packaging and Packaging Waste Regulation, adopted in December 2024, guides Atria's target-setting for recycled packaging material. The page gives no numeric target, base year or deadline.

Resource Inflows

Raw Materials and Inputs

Meat Raw Materials:

• Pork, beef, poultry from domestic sources
• Volume of meat processed: 160.2 million kg (decreased by 1.2 million kg from previous year)
• Share of domestic meat in Finland: 100%

Other Materials:

• Other raw materials for food production
• Packaging and other materials

Total Purchases: Purchases from producers, subcontractors and other partners: EUR 1,421.3 million

Energy Inputs

Energy consumption: Around 488 GWh

• Renewable sources represent around 27 percent of total consumption

Contract Farm Network

Atria works with more than 4,000 contract farms providing raw materials and supporting sustainable primary production.

Resource Outflows

Product Output

Sales and Revenue: Sales to consumer product and primary production customers and other revenues: EUR 1,759.9 million

Waste and By-products

Circular Economy Achievement: More than 99 percent of all materials are utilised - indicating minimal waste generation through circular economy practices.

Value-Added Outputs: Food production creates value-added products from raw materials, with by-products and waste streams being utilized in circular economy processes including the planned biogas plant that will process:

• Agricultural side streams
• Food industry side streams
• Farm manure

Into valuable outputs like:

• Renewable energy (biogas)
• Bio-fertilisers

Waste

Reference: E5 resource outflows and metrics, pages 114-115; waste policy, page 113. Back-filled from E5-5 Resource outflows, which the ESRS index lists at "SR 114-115" (page 130); waste was not a separate DR under the 2023 ESRS.

Waste is reported as a share of material flows, not in absolute tonnes: "Atria also generates side streams classified as waste, a total of 4 per cent of all outflowing material during the reporting year. Although waste itself is not an essential sustainability issue for Atria indicators of material recovery reflects the success of the main objective of the circular economy, the prevention of waste generation" (page 114).

Material recovery rate (page 115):

Method (page 115). "The total amount of waste includes the waste ending up in waste treatment from all production plants. The waste volume includes fractions recovered as material and energy, as well as waste fractions deposited in landfills and those delivered for hazardous waste treatment ... External service providers transport and process waste and report waste quantities and disposal method using R/D codes."

Policy is the waste hierarchy, prioritising "measures that reduce waste generation or minimise its volume" (page 113). No absolute tonnage, hazardous/non-hazardous split or diverted-versus-disposed breakdown is given.

Own Workforce Policies

Strategic People Focus

Committed employees is one of Atria's strategic goals. At the heart of our personnel responsibility are our employees' health and safety, fair employment relationships and competence development.

Health and Safety Policy

At Atria, safety always comes first. For Atria, safety at work and the wellbeing of our employees are of paramount importance. During 2024, Atria's strong commitment to improving occupational safety and preventing accidents continued.

Employee Development

• Investment in joint training programmes for the entire Group
• Business areas have launched their own programmes to improve the wellbeing of employees
• Competence development is a key element of personnel responsibility

Corporate Culture Development

During 2024, Atria aimed to build a more unified organisation across country borders and to strengthen its common corporate culture through:

• Strengthening cross-border cooperation
• Increasing internal communication and transparency
• Strategic development of corporate culture

Equal Treatment and Human Rights

Our goals are to promote equality, safeguard human rights and ensure people's wellbeing.

Actions on Own Workforce Impacts

Occupational Safety Improvements

Safety Training and Communication:

• In 2024, invested even more in improvement of occupational safety than before
• Regularly highlighted various aspects of occupational safety in internal communication
• Monthly safety talks between employees and supervisors for ongoing dialogue and preventive measures
• In Finland, focus on fire safety with all employees receiving fire safety training

Safety Performance:

• Accident frequency has developed in the right direction over past five years and decreased in 2024
• Accident frequency rate: 14 in 2024 (12 in 2023)
• Long-term trend continues to decline despite slight increase from previous year

Employee Wellbeing and Development

Training and Development:

• Atria Growth Engine innovation programme involving 26 employees across countries
• Personal coaching opportunities for participants
• Joint training programmes for entire Group
• Business areas launched own programmes to improve employee wellbeing

Organizational Improvements:

• Strengthened corporate culture development
• Improved cross-border cooperation
• Enhanced internal communication and transparency
• Results reflected in significantly improved employee survey results

Healthcare Services: Cooperation between Atria Finland and Härmämedi Oy on development of occupational health services began in November 2024.

Reference: page 119

The ESRS index lists S1-5 at page 119. The page says Atria Group's management sets the sustainability targets for its own personnel as part of strategic management, and the objectives and their realization are discussed in the meetings of the personnel groups. The stated goal is to continuously reduce occupational accidents and improve occupational safety. The target for accident frequency is 8 by 2025, against 41 in 2017. The accident frequency rate per million hours worked was 14 in 2024 and 12 in 2023. A second goal is to strengthen work community skills and organizational culture, and the Peoplepower Index (leadership, commitment, performance and dedication) improved by 1.7 points from the previous result.

Own Workforce Characteristics

Total Workforce

Personnel (FTE): 3,864 food-industry experts

• Atria Finland: 2,594 (67.1% of Group personnel)
• Atria Sweden: 829 (21.5% of Group personnel)
• Atria Denmark & Estonia: 441 (11.4% of Group personnel)

Gender Distribution

Proportion of women/men: Information available showing gender split across the organization, with specific breakdown by business area shown in charts.

Characteristics of non-employees in the undertaking's own workforce

Atria states that it does not collect information on the characteristics of employees other than those employed.

In the context of work-life balance metrics, a clarification note mentions:

Persons' work ability limitations. The collection of data is not allowed in all of Atria's operating countries.

An additional note references subcontractors:

Atria has used approximately 140 employees through subcontractors in Finland. The people have worked in production mainly in meat cutting tasks.

However, this figure is provided without specification of the reporting period, methodology (headcount vs FTE), or breakdown by worker type (contractor, agency, self-employed). No formal reporting of non-employee workforce characteristics is presented in accordance with ESRS S1-7.

Collective bargaining coverage and social dialogue

Collective bargaining coverage and social dialogue arrangements

Atria maintains an active and regular dialogue between the social partners. The policy is to inform employees about matters that are important to the company and to consult employees on matters that concern them.

Employment relationships comply with collective agreements for salaried employees and employees. Employee's personal membership in the union is voluntary.

Atria supports the employees' freedom of association, and the membership of employee organisations or trade unions does not affect a person's treatment in the workplace. In each business area, the cooperation between the employer and personnel groups is guided by local legislation.

European Works Council

Group-level cooperation is implemented in the European Works Council (EWC), which meets twice a year at the invitation of the CEO of Atria Group. Representatives of all personnel groups from all business areas within the scope of EU legislation are invited to the meetings. The Works Council discusses the company's strategy and financial situation, the largest strategy projects and measures, as well as personnel-related issues, such as the number of employees, the results of the employee survey, matters related to occupational safety and well-being.

Employees' representatives are informed and consulted about the company's decision-making through the European Works Council (EWC).

Coverage rates by country

Workforce Diversity Metrics

Gender Diversity

Proportion of women/men (HC100): Gender distribution data is tracked and reported across the organization, with visual representation showing the split between male and female employees across different business areas.

Adequate wages

All Atria's employees are paid adequate wages in accordance with the applicable benchmarks. Of Atria's business areas, only Estonia has a statutory minimum wage. The definition of adequate wage is based on, for example, collective agreements and labour market practices.

Geographic scope

• Finland: 2,992 employees (HC 100)
• Sweden: 951 employees
• Denmark: 154 employees
• Estonia: 345 employees
• Total: 4,442 employees

Benchmark applied

The company states that adequate wage is defined based on collective agreements and labour market practices. Only Estonia is noted to have a statutory minimum wage among Atria's business areas.

Social protection

Coverage

All Atria's employees are covered by social protection in case of loss of income due to major life events. Such life events may include illness, unemployment, disability or incapacity at work, parental leave, or retirement.

Parental leave entitlement

All Atria employees are entitled to family leave under social policy and/or collective agreements.

Pension arrangements

Group pension benefits have been arranged for the members of the Management Team who are within the scope of Finnish social security. The retirement age of the group pension insurance is 63 years for the members of the Management Team. The pension plan is contribution defined, and the annual payment is based on the monthly salary (monetary salary and fringe benefits) of the insured.

Persons with disabilities

Atria has not disclosed quantitative data on persons with disabilities.

Scope limitation: The company notes that data collection is not allowed in all countries where Atria operates.

Training and Skills Development

Group-Wide Training Programmes

Atria Growth Engine Innovation Programme:

• Launched in May 2024
• 26 participants from different countries, functions and personnel groups
• Teams operated across country borders with all Atria's operating countries represented
• Participants worked on strategic projects using design thinking
• Personal coaching opportunities provided
• Two three-day periods of in-person activities plus virtual meetings
• Final project presentations given to Group management in December
• Programme rating: 4.7/5 from participants

Joint Training Initiatives:

• Investment in joint training programmes for the entire Group
• Business areas launched their own programmes to improve employee wellbeing
• Focus on competence development as key element of personnel responsibility

Safety Training:

• Fire safety training provided to all employees, especially in Finland
• Monthly safety talks between employees and supervisors
• Regular highlighting of occupational safety aspects in internal communication

Health and safety metrics

Coverage

100% of Atria's own workforce is covered by occupational health and safety management systems.

Health and safety metrics (2024)

Accident frequency rate by business area 2021–2024

Atria Group's accident frequency rate (LTA frequency) is calculated as the number of lost time accidents at the workplace per million hours worked.

Atria Group accident frequency rate (HC 100): 14 in 2024 (12 in 2023)

The accident frequency rate was slightly higher than in the previous year, but the long-term trend has continued to decline. In 2017, the accident frequency rate was 41.

Sickness absences

Sickness absences from regular working hours are monitored by the company.

Methodology notes

• Accident definition: Accidents resulting in at least 8 hours of sick leave per million hours worked
• LTA frequency: Number of lost time accidents at the workplace per million hours worked
• Occupational health and safety committees: Represent 100% of own workforce (company's own personnel and temporary workforce)
• Coverage: All Atria workplaces; applies to Finland, Sweden, Denmark, and Estonia operations
• The data does not include a breakdown by employee vs contractor for fatalities or injuries
• Lost days metric includes work-related injuries, fatalities, and work-related health problems combined

Work-Life Balance Metrics

Sickness Absence Rates

Sickness absences from regular working hours (HC 100): Data tracked and reported showing percentage of sickness absences across the organization, with trends monitored to ensure employee wellbeing.

Employee Satisfaction and Engagement

Employee Survey Results (October 2024):

• Employee engagement index: 76.3% (improved from previous year)
• Middle management engagement: ~86% (increased by almost 9 percentage points)
• Future employment intention: Almost 90% of respondents believe they will continue to be employed by Atria

Wellbeing Initiatives

• Business areas launched their own programmes to improve employee wellbeing
• Investment in joint training programmes for entire Group
• Occupational health services development - cooperation between Atria Finland and Härmämedi Oy began in November 2024

Compensation metrics

Pay gap

Atria discloses a gender pay gap of 11.2% for 2024, calculated from the average salary of male persons.

Remuneration ratio

Atria reports an annual total earnings ratio of 13.1 for 2024.

Methodology

Gender pay gap: The gender pay gap is calculated by calculating the difference between men's and women's pay and dividing it by men's pay. Total annual earnings do not include the salary of the highest-paid person.

Annual total earnings ratio: Not explicitly defined in the excerpts, but contextually appears to relate to CEO/highest-paid individual compensation relative to median employee.

Scope: The employee turnover calculation excludes seasonal workers. Information on development discussions was collected through an employee survey with a 75% response rate (61% participated in development discussions), rather than systematic collection across all companies. Atria has a sales company in Poland employing 29 people included in some figures but not in all key figures. Non-employee labor force is not included in HR systems.

Incidents, complaints and severe human rights impacts

2024 metrics

Additional information

During the reporting period, one incident of harassment was reported to the whistleblowing channel. The case has led to labour law actions and no fines have been imposed on Atria.

Consumer and End-User Policies

Product Safety and Quality

We want to provide safe, clean and nutritious food. Quality is one of the cornerstones of our operations.

Product Health Initiatives:

• Atria Finland's product range includes 174 Heart Symbol products
• Atria Sweden has 152 Keyhole products
• Atria Denmark has 68 Keyhole products
• Focus on increasing the number of antibiotic-free products

Consumer Wellbeing

We want to support consumer well-being by providing safe, healthy and nutritious food. Atria wishes to enable consumers and customers to make sustainable choices and promote the wellbeing of the environment and people.

Product Integrity

Traceability and Safety:

• Traceability of raw materials and biosecurity throughout the production chain contribute to a sustainable and safe food chain
• Products are antibiotic-free, hormone-free, salmonella-free, and traceable
• Animal welfare considerations in production
• 100% domestic meat used in Atria brand products in Finland

Actions on Consumer and End-User Impacts

Product Quality and Safety Actions

Quality Programme:

• Continued the Number One in Quality project started in 2021, aiming for holistic quality development
• Founded the Quality Ambassadors program to expand quality thinking throughout the organization and into each department's operations
• Employees closely involved in Group's innovation and quality work

Product Development:

• 213 new products developed in 2024 (190 in 2023)
• Focus on healthiness: Atria invests in the healthiness of its products
• Customer projects related to consumer experience improvement

Health and Nutrition Actions

Healthy Product Portfolio:

• Atria Finland: 174 Heart Symbol products
• Atria Sweden: 152 Keyhole products
• Atria Denmark: 68 Keyhole products

Product Safety and Traceability

• Products are antibiotic-free, hormone-free, salmonella-free, and traceable
• Animal welfare standards maintained in production
• Full traceability - consumers get exact information about food origin from package labels
• 100% domestic meat used in Atria brand products in Finland

Reference: page 124

The ESRS index lists S4-5 at page 124. The page says responsible persons from each business area form the Safe Atria Quality Steering Group, which defines the Group's Food Safety, Nutrition, Quality and Product Responsibility Policy, sets food safety objectives, monitors the results of development projects and reports to the Group Management Team. Atria's goal is to keep quality and food safety criteria above the statutory level, with zero product recalls. Results: 100% of Atria's food production volume was made in facilities certified to GFSI-approved food safety standards, and Atria had five product recalls in 2024. The page defines the certification indicator as the volume of food production in certified institutions divided by the production volume of all companies that process and sell Atria's food products.

Reference: pages 125-127

The ESRS index lists G1-1 at pages 125-127. Atria's business conduct culture rests on its Code of Conduct, related Group policies, a Supplier Code of Conduct and strategic sustainability goals (p.125). The Code of Conduct commits Atria to the UN Global Compact, the UN Universal Declaration of Human Rights, the ILO fundamental principles, the OECD Guidelines for Multinational Enterprises and others (p.125). The Board and Management Team review almost twenty administrative and operational policies each year, including the anti-corruption and anti-bribery policy and the whistleblowing policy (p.125). The Board approves the Code of Conduct and the Group policies (p.126). All personnel must regularly complete Code of Conduct training (p.126). The whistleblowing channel, in place since 2021 under Regulation (EU) 2019/1937, allows anonymous reports, and it received two reports in 2024 (p.126). Pages 126-127 also cover animal welfare, antibiotics, biosecurity and supplier due diligence.

Reference: page 128

The ESRS index lists G1-4 at page 128. The page reports a nil result: in 2024 no cases of bribery or corruption came to Atria's attention that would have resulted in dismissal of or disciplinary sanctions against Atria's own employees, in terminating or not renewing contracts with business partners, or in fines or public legal action against Atria or its employees. The page adds that the indicators have not been validated by an external body other than the verification service provider.

Targets related to business conduct

Back-filled from the G1 Business conduct chapter (pages 125-128). The ESRS index lists only G1-1 to G1-6, with no targets row (page 132): G1-3 became a standalone DR only in the 2025/2026 ESRS, so business conduct targets fell under MDR-T.

Atria discloses no measurable business conduct target. Consistent with MDR-T's other limb, effectiveness is tracked in the absence of one: "Atria Group Management Team evaluates success in promoting the corporate culture through reputation surveys, industry reports, media monitoring and whistleblow reporting. Atria Plc's Board of Directors reviews, on a quarterly basis, a legal review of significant legal and authority processes as well as any other claims against Atria. In addition, the Group organises an annual legal, compliance and tax review" (page 126).

Training carries a stated cadence: anti-corruption, anti-bribery and anti-trust training "must be completed every two years", cybersecurity training every year (page 126). Atria qualifies this itself: "for the reporting year there was no formal process for monitoring the completion of trainings, especially for risk groups" (page 127).

Animal welfare sits under G1 for Atria. The strategy states "We aim for zero animal welfare violations" (page 23), and the G1 chapter aims "to continuously improve production methods based on scientific evidence and ensure good animal welfare in sourcing other than contract production as well" (page 126).