Bravida Holding AB

Governance roles

Reference: page 62. The G1 chapter additionally cross-references GOV-1 to the Corporate Governance Report (pages 35-41, 47-48).

Bravida's sustainability work "is clearly governed by a structure in which the board, management and other bodies have defined roles and responsibilities".

Board of Directors (page 62)

• Overall responsibility for the strategic direction of the sustainability work; defines key policies.
• Six independent members elected by the AGM plus four employee representatives, "all of whom are resident in the Nordic region".
• The independent members are "three women and three men, so the gender balance is 50/50".
• "The Board's Audit Committee is responsible for preparing material relating to sustainability issues for Board meetings."
• Employee representatives "work actively within Bravida and therefore have good knowledge of the work environment, suppliers, customers and terms of employment".

Group Management (page 62) is led by the CEO and includes managers from all divisions, the CFO ("with responsibility for finance, accounting, IT, sustainability and legal"), the Head of Purchasing, the Director of Human Resources and the COEO. "In total, nine men (90 percent) and one woman (10 percent) were members of Group Management at the end of the year."

Information provided to the bodies

Reference: page 63.

Bravida has "an established Sustainability Committee that is chaired by the CFO and includes representatives from Group Management, the Chief Legal Officer and sustainability specialists". The committee "is responsible for drawing up and refining the sustainability strategy, long-term goals and sustainability-related policies", and prepares "preparatory decision-making documentation ... for the Board of Directors and Group Management according to an established annual cycle".

Frequency and content (page 63)

• "In 2025, five meetings of the Sustainability Committee were held."
• "During the year, Bravida worked on the topics relating to material IROs. We have a special focus on the IROs related to climate change mitigation and waste."
• Two concrete outputs are named: "Bravida has created a climate change adaptation plan and ensured that all countries have a centralised waste agreement."

Country and divisional managers hold ultimate responsibility for ensuring country-specific strategy, long-term targets and policies are in place and aligned with the Group, supported by national legal, purchasing, finance and HR staff.

Results from policies, measures, metrics and targets are presented under each topic section rather than consolidated here. Monitoring runs through branch (monthly), regional (quarterly), divisional (quarterly) and Group (monthly and quarterly) reviews, all in Group-wide systems (pages 62-63).

Sustainability in incentive schemes

Reference: page 63.

Bravida's incentive scheme "is determined by the Board of Directors and the Remuneration Committee". Sustainability outcomes are "partly integrated into the system, from the social perspective: LTIFR (Lost Time Injury Frequency Rate)".

How the LTIFR link works (page 63)

• "The LTIFR target is set at 5.5 and performance is measured and reported monthly at the branch, regional, divisional and Group levels as a rolling 12-month trend."
• "To qualify for a bonus, an LTIFR below 10 is required, while the maximum bonus is achieved at an LTIFR below 6."
• "For Group Management, 10 percent of the bonus is linked to the LTIFR, with the outcome depending on whether the targets are met."
• Other employees on a bonus programme "can choose LTIFR as a baseline parameter or choose other options such as sick leave or the percentage of collection orders", with local thresholds set where those are selected.

Gap worth noting: the only sustainability metric in the incentive scheme is a health and safety metric. No climate, emissions or circularity measure is linked to variable remuneration, even though E1 is the company's most heavily reported topic. No percentage of remuneration recognised in the current period and linked to climate considerations is disclosed.

Statement on due diligence

Reference: pages 63-64.

"Bravida has a due diligence process that focuses on people and the environment. The table on page 63 shows the specific processes and where they can be found in the Sustainability Report" (page 64).

Mapping of the core elements of due diligence to disclosures (page 63)

• Embedding due diligence into the governance, strategy and business model: GOV-1, GOV-2, SBM-3, G1-1, and the Bravida acquisition process on page 19.
• Engaging with affected stakeholders in all key steps of the due diligence: SBM-2, SBM-3, S1-2, and the acquisition process on page 19.
• Identifying and assessing negative impacts: Risks and risk management pages 42-46, IRO-1, GOV-2, SBM-2, G1-3, S1-14, E1 SBM-3.
• Take measures to address negative impacts: E1-3, E5-2, S1-4, G1-4.
• Track the effectiveness of these efforts and communicating this: E1-4, E5-3, S1-5, S1-17.

The mapping is a table of cross-references only; no narrative account of the due diligence process itself is given at this point, and no G1 disclosure appears in the effectiveness-tracking row.

Risk management and internal controls over sustainability reporting

Reference: page 64.

Sustainability-related risks "have been identified through the work on the DMA and are integrated into the Group-wide risk process. These risks shall be reviewed on an annual basis or as needed."

Responsibilities

• Risk identification is "mainly done through the double materiality analysis, which covers the entire business operations, including the value chain both upstream and downstream", prepared by Group Management with sustainability specialists "and is then approved by the Board".
• "Responsibility for the management of sustainability risks is divided up within Group Management, with the CFO having the main responsibility."
• "The outcome of the annual risk workshop, which includes sustainability risks, is presented to the Board once a year."

Controls and a stated weakness

• A third-party system consolidates data, standardises methods and automates calculation of most reported indicators, with Group-level checks "using the two-person principle".
• Bravida names the residual weakness itself: "As there is no Group-wide system for the automatic management of data collection, there may be a risk of inaccuracies in reported data due to manual handling."
• Mitigation is collection and validation at divisional level, a Group-level check, and year-on-year comparison "to identify major differences for which further investigation and explanation are required".

Strategy, business model and value chain

Reference: pages 52-54, with the value chain diagram on page 53.

Offering and scale (page 54)

• Installation, service and maintenance of technical installations in properties and facilities: electrics, HVAC, heating and plumbing, automation, sprinkler systems and security products.
• "Service accounts for around 49 percent of revenue, new construction for 36 percent and renovation for 15 percent."
• Nordic market, "a local presence in over 200 locations in Sweden, Norway, Denmark and Finland", around 330 branches, approximately 13,800 employees (Sweden 6,400; Norway 3,400; Denmark 3,000; Finland 1,000).
• Customer mix: construction companies 26%, public clients 21%, other commercial 17%, industrial companies 16%, property companies 13%, retail 3%, other 4%. "Consumers account for a smaller share of revenue."

Value chain (page 53) is set out in five stages: upstream raw material extraction and production (with transport by air, sea, rail and road "at multiple stages"); own operations (installation, renovation and maintenance); downstream usage; and final disposal and reuse.

Interests and views of stakeholders

Reference: page 55.

Bravida "has an ongoing dialogue with four priority stakeholder groups": customers, suppliers, owners/investors/providers of financing, and employees. A table sets out each group's dialogue channels and the outcomes fed into the materiality analysis.

Channels named (page 55) include customer meetings in projects, customer satisfaction and market surveys, customer audits, supplier meetings, supplier assessment, contract negotiations, financial reporting, investor meetings, the AGM, daily checks, annual performance reviews, employee surveys, intranet and digital social platforms, engagement with trade unions, and "Questionnaires and interviews as part of materiality analysis" for every group.

A stated exclusion: "Bravida has assessed that affected communities are not a prioritised stakeholder group due to the fact that Bravida is not a producing company and thus does not have a direct impact on local communities."

How views reach the bodies: "The views of stakeholders are conveyed via the Sustainability Committee, which is chaired by the CFO and includes members of Group Management."

Material impacts, risks and opportunities

Reference: page 57, with the full IRO tables on pages 58-61.

"Within the standards selected for Bravida, 36 (37) IROs have been identified as being material and assessed as having medium-high or high impact" (page 57).

Material standards (pages 56-57): E1 Climate change, E5 Circular economy, S1 Own workforce, S2 Workers in the value chain, G1 Business ethics. The materiality matrix on page 57 places E2, E3, E4, S3 and S4 in the "Not material" quadrant.

Presentation of the IROs (pages 58-61) is in two tables, "MATERIAL IMPACT" (positive/negative, actual/potential) and "FINANCIAL MATERIALITY" (risk/opportunity), each row tagged with its position in the value chain (upstream, own operations, downstream) and its time horizon. A footnote records that "No financial impact has been calculated for 2025", so no monetary amounts accompany any risk or opportunity.

Link to strategy (page 57): the business plan runs on a three-year horizon, currently 2024-2026, and "The content of the business plan is thus not conceptually correlated with current DMA outcomes, which means that material topic standards are not named in the plan." Bravida states the plan nonetheless reflects the material issues, giving one example: "Bravida is working to reduce customers' carbon footprints through energy optimisation." It expects the link to "become even clearer" in the next three-year plan.

Process to identify and assess material IROs

Reference: pages 56-57; climate at page 67, E5 at page 76, G1 at page 96.

"In 2023, Bravida conducted a double materiality analysis in accordance with ESRS with the help of an external consulting firm ... In 2024 and 2025, the DMA was revised to be in line with implementation practices ... The revision had no impact on the outcome regarding the definition of Bravida's material issues" (page 56).

Five steps (pages 56-57)

1. Long list from "ESRS 1 General Requirements" plus "the climate risk analysis carried out from 2022", each IRO assessed for relevance to activities, locations, industry sector and value chain.
2. Review of the risk management system and interviews with internal stakeholders; IROs mapped by time horizon and value chain location.
3. Impact materiality: "Negative impacts were scored on the basis of severity (scale, scope, remediability) and likelihood. For human rights, severity was prioritised over likelihood." "Impacts that scored medium or high were considered to be material."
4. Financial materiality assessed on "the extent of the potential impact and the likelihood of its occurrence"; "Risks and opportunities rated as medium or higher were assessed to be material". Sustainability risks "are assessed on the same terms as other corporate risks".
5. Validation by Group Management, the Board and relevant parts of the organisation.

Disclosure requirements covered

Reference: page 62, with the ESRS index on pages 99-100 and the Appendix B datapoint list on pages 101-103.

"Disclosure requirements for which, according to the double materiality analysis, there are no significant impacts, risks or opportunities have been excluded from the report. Thresholds have been used to determine what is considered material and non-material based on the scale: low, medium and high" (page 62).

The index itself (pages 99-100) is a genuine ESRS content index: each reporting requirement with a page reference, or "n/a" plus a reason in an "Other information" column. It covers ESRS 2 (BP-1 to IRO-2), E1, E5, S1, S2 and G1. E2, E3, E4, S3 and S4 do not appear at all, consistent with the DMA matrix on page 57.

Reasons recorded in the index

• "Not material": E1-7, E1-8, G1-5, G1-6.
• "Phasing in": E1-9, E5-6, S1-7, S1-13, S1-15.
• S1-12: "not applicable due to rules in the General Data Protection Regulation (GDPR)".
• ESRS S2 appears as a single row for the whole standard, pages 91-93, marked "Simplified reporting in accordance with 'Quick fix'".

BP-2 repeats the phase-in use (page 52): "Bravida chooses to use the phasing-in rules for disclosure requirements E1-9 and for E5-6. For S1, the phasing-in rules for the disclosure requirements S1-13, S1-15 and to some extent S1-17 are used. Furthermore, ESRS S2 has been assessed as material and will be reported in accordance with the phase-in rules."

Transition plan for climate change mitigation

Reference: pages 69-70.

"In 2025, Bravida further developed its Climate Transition Plan to achieve net zero greenhouse gas emissions by 2045. The Climate Transition Plan was updated in 2025 in connection with Bravida's climate targets being approved by the Science Based Targets Initiative (SBTi) and is in line with the current business plan, strategy and financial planning, and has been approved by Group Management" (page 69).

Targets and activities table (page 69)

• 2023-2029: Scope 1 and Scope 2 each "42% reduction in CO2 emissions", the fleet converted so that "57% are electric vehicles or 47% of diesel cars convert to HVO"; Scope 3 commitment targets for 76 percent of suppliers by purchasing volume and 70 percent of customers by revenue to hold SBTi-aligned targets.
• 2030-2035: Scope 1 -90%, Scope 2 -100%, Scope 3 -50%. 2036-2040: Scope 1 -100%, Scope 3 -71%, with "Investment in available permanent carbon capture and storage (CCS) technology to reduce the remaining 10% of emissions". 2041-2045: Scope 3 -90%.
• Outcome 2025 as printed: "Outcome Scope 1: -31%", "Outcome Scope 2: 63%", "Outcome suppliers: 52%", "Outcome customers: 32%".

Locked-in emissions: "Bravida made the assessment that the core business does not have locked-in emissions" (page 69). The assertion carries no supporting analysis.

Identification of climate-related risks and scenario analysis

Back-filled from ESRS 2 IRO-1 for climate, where this content is disclosed in the FY2025 report (page 67). This disclosure requirement did not exist under the 2023 ESRS the report was prepared against.

Classification (page 67): "Physical climate risks are considered to have a limited impact on Bravida. Instead, the biggest risks and opportunities are linked to the climate transition itself, with these being called transition risks." The E1 IRO table separates an "Adaptation to climate change" sub-topic from "Mitigation of climate change" transition items (page 68).

Methodology (page 67): the climate risk and vulnerability analysis "was carried out with the help of SMHI, the Swedish Meteorological and Hydrological Institute. The analysis analysed all aspects of the business operations and looked at three climate scenarios", "in the middle of and at the end of the century". "The risks related to Bravida's entire business operations and no breakdown was made at the activity level."

Scenarios and temperature projections (page 67)

• RCP2.6 by 2100, low-emission: "keeping global warming to around 1.5-2°C by 2100".
• RCP4.5 by 2050, medium: "global warming reaches around 3.5-4.7°C in 2050".
• RCP8.5 by 2100, high emissions: "Global warming will reach around 4-5°C by 2100".

Timing: carried out in 2022; for taxonomy DNSH purposes it "was reviewed in 2025 but not adjusted" (page 79).

Resilience in relation to climate change

Back-filled from ESRS 2 SBM-3 and the climate IRO-1 section, where this content is disclosed in the FY2025 report (page 67). This disclosure requirement did not exist under the 2023 ESRS the report was prepared against.

Result (page 67): "The outcome was that Bravida has high resilience in all three scenarios and the biggest risks are so-called transition risks." "The analysis concluded that the business model is in many respects robust regarding direct climate change impacts in all scenarios analysed, and that outstanding risks can be managed. The exposure of Bravida's assets and activities was considered low due to the fact that the assets are largely intangible and thus Bravida is not directly exposed to risk, regardless of the climate scenario."

Strategy response: because physical risk is judged limited, the response is directed at transition risk, which is where the transition plan and E1-3 actions concentrate (pages 67, 69-70). GOV-2 records that "Bravida has created a climate change adaptation plan" during 2025 (page 63), and the analysis underpinned the taxonomy climate change adaptation DNSH assessment (page 79).

Adaptive capacity: the only evidence is the intangible-asset argument above. No discussion of financial flexibility, redeployment of assets or the effect of planned investments on resilience is given.

Uncertainty: no significant areas of uncertainty in the assessment are identified.

Policies related to climate change mitigation and adaptation

Reference: page 70.

"The basis for our sustainability work is integrated into our overall business strategy, and the Sustainability Policy formulated on the basis of the UN Global Goals. Bravida's policy is a governing document for managing climate work and is approved by Bravida's Group Management. The policy applies to all employees within the Bravida Group. The policy also applies to our suppliers and partners by referring to Bravida's Supplier Code of Conduct."

Commitments in the Sustainability Policy (page 70)

• "Working to limit climate-changing emissions in line with the Paris Agreement"
• "Strengthening society's capacity to respond and adapt to climate change"
• "Ensuring efficient use of resources"
• "Reducing waste and pollutant emissions in society"

A gap the company states itself: "The policy does not currently address climate risks (neither physical nor transition risks), so the work to be carried out in 2026 to review the policy will focus on climate-related risks and risk management." Alongside this, "In 2026, Bravida will undertake a major effort to align policies with the CSDDD, and the Sustainability Policy will also be reviewed."

No separate climate policy, no energy efficiency policy and no named accountable executive for the policy beyond Group Management approval are disclosed. Scope 3 coverage of the policy runs only through the Supplier Code of Conduct reference.

Actions and resources in relation to climate change policies

Reference: pages 70-71. The ESRS index labels this row "Policies related to climate change mitigation and adaptation" at page 70; the section heading in the report is "E1-3 Actions and resources in relation to climate change policies".

Vehicle fleet (page 70): "Since 2021, Bravida has been gradually working to switch its own vehicle fleet from fossil fuel to electricity. For example, Bravida Denmark has placed an order for 500 new electric service vehicles ... By the end of 2025, the share of electric vehicles reached 45 percent." The fleet is the largest own-operations lever: 8,400 leased company and service vehicles are a named material IRO (page 58).

Electricity (page 70): "work is continuing to connect local offices to the relevant centralised contract at national level to ensure that electricity comes from renewable sources". Because Bravida does not control energy contracts at all premises, the switch "will be made gradually" (page 69).

Value chain (pages 70-71): "The targets for Scope 3 for 2029 are commitment targets and mean that the activities have not yet been quantified. By 2030, Bravida will define climate reduction targets for emissions in the value chain ... Until 2029, a focus area for Bravida will be improving data quality."

Targets related to climate change mitigation and adaptation

Reference: page 71, with the target table on page 69.

"The long-term target, as described in Bravida's Sustainability Policy, is to be carbon-neutral throughout our value chain by 2045 ... Bravida's climate targets for Scopes 1, 2 and 3 were approved by SBTi in 2025. The targets have been approved by Bravida's Group Management and Board" (page 71).

Base year (page 71): 2023, "because it was the first year in which Bravida conducted a complete emissions inventory of its value chain. Bravida has developed a base year adjustment procedure that is used when emissions change as a result of major operational changes."

Milestones (page 69): Scope 1 and Scope 2 each -42% by 2029, Scope 1 -90% and Scope 2 -100% by 2035, Scope 1 -100% by 2040. Scope 3 has no absolute reduction target before 2030, only commitment targets for 2029, then -50% by 2035, -71% by 2040 and -90% by 2045.

The previous target (page 71): "Between 2020 and 2025, Bravida had a previously set target to reduce its Scope 1 emissions by 30 percent. The target applies to Bravida's CO2e emissions under Scope 1 and Scope 3.3." Emissions in Scopes 1 and 3.3 were 28,873 tonnes CO2 in 2020 and 15,654 tonnes in 2025, a change of -46 percent. "The previously set target for 2025 has now been achieved. A major reason ... is the switch from fossil-fuelled vehicles to either hybrid or electric vehicles."

Energy consumption and mix

Reference: pages 71-72.

"All energy consumption reported below comes from Bravida's operations, including wholly owned subsidiaries. All Bravida's operations are in a high climate sector according to REGULATION (EC) No. 1893/2006" (page 71).

Group totals for 2025 (page 71, kWh)

• Total energy consumption: 93,302,225
• Total fossil energy consumption: 70,413,052, a 75 percent share. The dominant line is crude oil and petroleum products, 66,932,656 kWh, consistent with a vehicle-fleet footprint; natural gas 184,196 and purchased electricity, heat, steam and cooling from fossil sources 3,296,201.
• Nuclear sources: 1,496,727, a 2 percent share.
• Total renewable energy: 21,392,447, a 23 percent share, all of it purchased or acquired electricity, heat, steam and cooling. No renewable fuel and no self-generated renewable energy are reported.

Figures are disaggregated by Denmark, Finland, Norway and Sweden alongside the Group total.

Methodology and a stated uncertainty (page 72): "Bravida is a decentralised company with over 350 offices across the Nordic region ... In other locations, Bravida is situated in premises with a landlord who controls these contracts. In cases where consumption data is not available, a standard consumption is calculated based on the number of square metres in the premises."

Gross Scopes 1, 2, 3 and total GHG emissions

Reference: pages 72-74.

"Emissions have been calculated in accordance with the GHG Protocol and cover all Bravida's operations, including wholly owned subsidiaries. As Bravida has no emissions in categories 3.9, 3.10 and 3.13-3.15, these have been omitted" (page 72). The table runs base year 2023, comparative year 2024, current period 2025, plus 2029 and 2045 milestones.

2025 figures in tCO2e (page 72), with 2024 and the 2023 base year

• Scope 1: 12,662 (2024: 15,876; base: 18,466)
• Scope 2 location-based: 463 (524; 983); market-based: 5,657 (4,908; 3,467), so market-based Scope 2 is now above the base year
• Total, location-based: 435,997 (465,820; 560,601)
• Total, market-based: 441,191 (470,204; 563,085), against a 2029 milestone of 326,589 and a 2045 target of 56,309
• Scope 3.1 purchased goods and services 258,104 (296,008); 3.11 use of sold products 131,365 (110,606); 3.12 end-of-life 20,424 (25,077). Also 3.2 1,707; 3.3 3,973; 3.4 2,836; 3.5 107; 3.6 806; 3.7 3,548; 3.8 18.

Methodology and stated uncertainties (pages 73-74)

• "We have selected 70-80 key items ... extracted climate data from EPDs (Environmental Product Declarations), and then used them to estimate the total climate impact of all the Group's purchases."
• "Scope 2 is based on 51 percent standardised data and 49 percent actual data"; Scopes 3.1, 3.11 and 3.12 are "to a great extent based on standardised data".

Policies related to resource use and circular economy

Reference: page 77.

"Bravida's Sustainability Policy emphasises that we strive to ensure sustainable use of the planet's resources by pursuing efficient use of resources and reducing waste."

The company states the gap itself, twice. "Bravida has not created a specific policy on resource use and the circular economy. For the 2025 reporting year, Bravida will therefore have limited reporting of this standard. During 2026, a business plan for 2027-2029 with related strategic decisions will be drawn up. Over the next year, Bravida will evaluate the work regarding how its operations can make a concrete contribution to achieving a circular economy." And on waste: "As with the impact of purchased materials, there is currently no Group-wide strategy for waste reduction."

What is in place (page 77)

• Established procedures for handling waste and hazardous waste at project level, worked on "for a long time".
• "Bravida has developed mandatory environmental training courses for employees who come into contact with these issues as part of their work."

Actions and resources related to resource use and circular economy

Reference: page 77.

The disclosure is short and candid, in full: "Our reuse efforts currently involve feasibility studies and individual projects. To shed light on the work in a broader perspective, a review of the strategy needs to be carried out and relevant targets need to be defined and embedded in the organisation."

No actions are named, no sites or business units identified, no resources (CapEx or OpEx) quantified and no timeframe given for the strategy review.

Related waste actions in the same section (page 77)

• "As a central waste contract was signed in Sweden in 2025, all the countries in the Group now have central contracts. The Swedish offices will gradually be included in the new contract as existing agreements expire."
• "Our common practices describe how waste should be managed in accordance with the waste hierarchy and applicable legal requirements. For installation projects, the main contractor ensures that waste management systems are in place."
• "In the service operations, Bravida has company-controlled transport permits in order to be able to transport the waste generated by assignments ourselves."
• For hazardous waste such as batteries and glycol, "we stipulate in the contract that the waste management company carries out all mandatory reporting".

Targets related to resource use and circular economy

Reference: page 77.

Bravida gives an explicit nil return with a reason, reproduced in full: "For 2025, there are no targets that have been defined within this topic standard, as the current business plan was drawn up in 2023 and contains other prioritised areas with associated targets for achievement by the business operations. There is currently no decision on whether targets will be created."

So no target is disclosed for resource inflows, resource outflows, waste reduction, recycled content, reuse or circularity of any kind, and the company does not commit to setting one. That is a complete answer to the disclosure requirement rather than a refusal, and it is consistent with the rest of the chapter: "Bravida has not created a specific policy on resource use and the circular economy. For the 2025 reporting year, Bravida will therefore have limited reporting of this standard", and "there is currently no Group-wide strategy for waste reduction" (page 77).

E5-2 links the absence of targets to the absence of a strategy: "To shed light on the work in a broader perspective, a review of the strategy needs to be carried out and relevant targets need to be defined and embedded in the organisation" (page 77). The forward commitment is procedural only, to the 2027-2029 business plan to be drawn up during 2026 (page 77).

Resource inflows

Reference: page 77.

The disclosure opens by cross-referring: "See information under E5-1." It then states the position in full: "Bravida recognises that natural resources are required for the processing of raw materials and in the manufacturing process. The process also generates greenhouse gas emissions. Bravida has no direct influence over or control of the production process, or the waste stream that arises in connection with production, so no relevant data is available."

No quantities are reported. There is no total weight of products and technical and biological materials used, no share of biological materials, no share of secondary reused or recycled components and materials, and no breakdown by material type.

Where the impact sits. The E5 IRO table places the resource inflows impact upstream: "Bravida has a negative environmental impact through the choice of products and components based on materials and raw materials", an actual negative impact (pages 58, 76). The associated risk is also upstream, "Risks associated with increased costs of natural resources, such as raw materials or energy, that are important for the business" (pages 60, 76).

Resource outflows

Reference: page 77. The ESRS index lists E5-5 at page 77 (page 99), and Appendix B gives page 77 for "ESRS E5-5 Non-recycled waste paragraph 37 (d)" and "ESRS E5-5 Hazardous waste and radioactive waste paragraph 39" (page 102).

Waste figures (page 77, tonnes; 2024 in brackets where given)

• Quantity of waste: 5,111 (5,392); of which hazardous waste: 75 (8)
• To incineration: 1,399; to landfill: 93; to recycling: 3,446
• Footnote: "The total waste also includes 52 tonnes from Bravida Denmark categorised as other disposal operations."

Products and materials. No outflow metrics for products are given: nothing on durability, reparability, recyclability or recycled content. The stated reason is the absence of supplier material and weight data (E5-1, E5-4).

Measurement uncertainty is declared. BP-2 lists "Quantity of waste, tonnes" among the indicators carrying measurement uncertainty (page 52). Data comes from contractors in Denmark, Finland and Norway; for Sweden "there was not enough data there at year-end", so Bravida scaled the other countries' average waste per employee to the Swedish headcount, and "The uncertainty that arises is that Sweden's waste volume does not reflect that of other countries."

Waste

Reference: page 77.

Waste is one of Bravida's three E5 sub-topics, carried as an actual negative impact: "Bravida has a negative impact on the environment through its generation of waste from production and manufacturing" (pages 58, 76). GOV-2 records it as one of two IROs given special focus during 2025 (page 63).

Quantities (page 77, tonnes; 2024 in brackets where given)

• Total quantity of waste: 5,111 (5,392)
• of which hazardous waste: 75 (8)
• To incineration: 1,399; to landfill: 93; to recycling: 3,446
• Plus "52 tonnes from Bravida Denmark categorised as other disposal operations" per the table footnote

Management (page 77)

• "Our common practices describe how waste should be managed in accordance with the waste hierarchy and applicable legal requirements."
• "In cases in which Bravida acts as the main contractor, we make sure to include an established waste contractor in the project."
• Offices hold contracts with waste management companies, with waste sorted at the offices; hazardous waste reporting is contracted to the waste company.
• "As a central waste contract was signed in Sweden in 2025, all the countries in the Group now have central contracts."

Policies related to own workforce

Reference: page 84.

"Bravida works to ensure a safe working environment and human rights, to prevent discrimination and to promote equality throughout the organisation. Taken together, our policies describe how we deal with IROs."

Policies named (page 84): Code of Conduct; Sustainability Policy; Health and Safety Policy; Policy against Harassment and Discriminatory Treatment; Equal Rights and Opportunities Policy. "All the policies are available for our employees on the Bravida intranet."

Process (page 84): "When drafting policies that cover our employees, we always follow the applicable national legislation and negotiate with our trade union representatives. Bravida has initiated a major project between Group HR and business management to develop the process for monitoring and reviewing policies. The work is expected to be completed during 2026."

Human rights commitments, in line with the UN Guiding Principles (page 84)

• "Supporting and respecting international human rights, and showing zero tolerance for any related violations"
• "Upholding freedom of association and freedom to organise for all employees and recognising the right to collective bargaining"
• "Preventing forced and child labour so that no working practices restrict the free movement of workers"

Processes for engaging with own workforce and workers' representatives

Reference: page 85.

"The Code of Conduct and policies underpin the entire organisation and cover all employees, regardless of whether they are members of a trade union or what type of employment they have." Interaction is "mainly done via" trade unions and employee representatives, and employee surveys and appraisals.

Trade unions and representatives (page 85)

• "Bravida has trade union agreements in all the Nordic countries and we have a very good working relationship with them."
• "At the country level, dialogue takes place in the form of joint meetings between employers and employee representatives, usually four times a year."
• "Bravida also has an agreement with our own EWC Council (European Works Council), which strengthens dialogue at an overall level throughout the company. The EWC Council is made up of trade union representatives from all countries, different trade unions and different occupational groups, as well as a representative from Bravida's HR organisation. The half-yearly meetings are also attended by a representative of the management."
• "The Board of Directors and Group Management have the overall responsibility for allowing trade union involvement. Group Management takes note of the results and uses them to determine Bravida's future focus." Day-to-day negotiations are handled by managers, HR managers and HR Business Partners.

Processes to remediate negative impacts and channels to raise concerns

Reference: page 85. Appendix B gives page 85 for "ESRS S1-3 Grievance/complaints handling mechanisms for staff issues paragraph 32 (c)" (page 102).

"Bravida offers several ways and channels for employees to express concerns or provide feedback. The purpose of these channels is to ensure that employees' needs and concerns are taken seriously and addressed."

The channels (page 85)

• Manager: "Employees are encouraged to approach their manager in the first instance to express needs/opinions."
• Other managers in the organisation, if necessary.
• HR function: "The HR department is available for support and dialogue, as are the trade unions."
• BIA system: "A system via which employees can report incidents and provide feedback."
• Bravidakompassen employee survey, including free text answers.
• PULSE surveys: "Regular short surveys to gather feedback from employees."
• Whistleblowing system: "An anonymous channel for employees to report sensitive issues or serious incidents. For further information, see G1."

Taking action on material impacts on own workforce

Reference: pages 86-87.

What the incident data shows (page 86): "In 2025, most work-related accidents occurred among skilled workers in installation and service. Electricians, plumbers and pipe fitters together accounted for around 90 percent of all accidents." "The most common causes of injury in 2025 were cuts, falls and crush injuries."

Approach (page 86): safety inspections and checklists; "Bravida's prevention work does not focus on occupational categories but on the types of risk that occur most frequently". The worked example is "the decision in Sweden that employees cannot carry knives on their bodies. One and a half years after the introduction of this decision, there is a marked decrease in related accidents."

Named actions (page 86)

• Collective labour agreements: "In 2025, all employees were covered by collective agreements, except in Denmark where some employees are covered by the 'Funktionaerloven'."
• The STOP approach: "Stop, Think, Observe and Plan before starting their work", with the right and obligation to stop work posing an unmanaged risk.
• Health and Safety Week, 2025 theme "How do you manage your risk?", plus mandatory training for managers and employees.
• 2026: "By using AI in the management of data from the incident management system, new connections between and causes of accidents can be identified."

Targets related to own workforce

Reference: page 87, with the quantified targets in the table on page 86.

"The management of targets is based on the organisation's vision, strategy and long-term business plan, and aims to manage both negative and positive impacts, as well as risks and opportunities related to the own workforce. Group management or senior executives define overall and, where appropriate, time-bound targets in areas such as occupational health and safety and employee engagement" (page 87).

The targets and their 2025 outcomes (page 86, 2024 in brackets)

• Health and safety: LTIFR <5.5, outcome 4.9 (5.9), "The target is set at 5.5". Achieved.
• Health and safety: "Unwanted employee turnover -1%/year", outcome 12.1 (11.8%), "The aim is to reduce this by one percentage point per year". Missed, and moving the wrong way.
• Equality: "Increase the proportion of women leaders compared to total leaders to 14 percent", outcome 10.6 (11.7%), "The target is set at 14% by 2027". Missed, and down year on year.
• Employees: "eNPS >20", outcome 14 (11). Improved but below target.

Characteristics of the undertaking's employees

Reference: page 88, with the gender table on page 87.

Headcount at 31 December 2025 (pages 87-88)

• Total employees: 13,832, of whom men 12,649 and women 1,183. The "Other" and "Not reported" columns are nil, with the footnote "Gender as specified by the employees themselves. Bravida does not currently collect this data."
• By country: Sweden 6,432; Norway 3,407; Denmark 2,960; Finland 1,033. No employees in other countries.
• By contract type: permanent 13,081 (men 11,990, women 1,091); temporary 703 (men 619, women 84); "Number of zero hours employees (hours) 48" (men 40, women 8).
• Permanent by country: Sweden 6,272 (48%), Denmark 2,945 (23%), Norway 2,880 (22%), Finland 984 (8%). Temporary employment is concentrated in Norway, 500 of 703 (71%).

Turnover (page 88): "Bravida reports two measures of employee turnover: total employee turnover and employee turnover at own request ... The total employee turnover rate was 20.4 percent and the turnover rate at own request was 12.1 percent. A total of 2,826 employees left Bravida during the year. People who move between Bravida's legal entities are not included in this figure, as they do not leave the Group."

Collective bargaining coverage and social dialogue

Reference: page 89.

"The right to choose trade union representation in collective bargaining applies to all employees, regardless of their employment status or geographical location. Exercising this right should never lead to discrimination. Bravida monitors the proportion of employees covered by collective agreements. Bravida respects the right of employees to join or not join trade unions and the right to collective bargaining. These rights are part of international conventions."

Coverage (page 89): "In 2025, all employees were covered by collective agreements, except in Denmark, where around 750 salaried employees are instead covered by the 'Funktionaerloven', which is a law in Denmark that regulates employment conditions for certain types of white-collar workers. If there is no collective agreement, Bravida applies agreements that are in line with collective agreements."

The banded table (page 89) reports coverage by country rather than a single Group percentage, "For countries with >50 employees representing >10% total employees":

• Collective bargaining coverage, employees in the EEA: 60-79% Denmark; 80-100% Finland, Norway, Sweden.
• Employees non-EEA: no entries, consistent with all operations being in the Nordic region.
• Workplace representation (EEA only): 80-100% Denmark, Finland, Norway, Sweden.

Diversity metrics

Reference: page 89.

"The installation industry is traditionally very male-dominated, but we are striving to achieve a better balance between men and women in our workplaces. Bravida has a strong focus on recruiting women to our business in roles such as service technicians, installers and project managers."

Gender at the top (pages 62, 89)

• Group Management "consists of the CEO, the Heads of Divisions and the Group Administrative Heads"; at the end of the year it was "nine men (90 percent) and one woman (10 percent)" and "All of them are executive members" (page 62).
• "Proportion of women on the Board, 50 (43) percent" (page 89). The Board's six independent members are three women and three men (page 62).
• Across the workforce, women are 1,183 of 13,832 employees, 8.6 percent (pages 87-88). The proportion of women leaders was 10.6 (11.7) percent against a target of 14 percent by 2027 (page 86).

Age distribution, percentage of the total Group at 31 December 2025, 2024 in brackets (page 89)

• Over 61: men 8.3 (7.6), women 0.7 (0.7), total 9.0 (8.3)
• 51-61: men 17.0 (17.3), women 1.9 (1.9), total 18.9 (19.2)
• 41-50: men 17.2 (16.9), women 1.3 (1.4), total 18.6 (18.4)
• 31-40: men 23.3 (23.0), women 2.3 (2.2), total 25.5 (25.2)
• 21-30: men 20.9 (21.4), women 1.9 (1.8), total 22.8 (23.2)
• Under 21: men 4.7 (5.3), women 0.5 (0.5), total 5.2 (5.8)

Adequate wages

Reference: page 89. The ESRS index lists S1-10 at page 89 (page 100).

The disclosure is given in full as: "Bravida offers employees an adequate and competitive salary that is well in line with reference salaries. Bravida always respects the statutory minimum wage and collective agreements."

This is a short positive assertion rather than a benchmarked disclosure. Bravida does not name the adequate wage benchmark it applies, does not identify which benchmark applies in each of the four countries, and does not state the percentage of employees paid below an adequate wage. No country is listed as an exception.

Supporting context elsewhere in the statement

• Collective agreement coverage: "In 2025, all employees were covered by collective agreements, except in Denmark, where around 750 salaried employees are instead covered by the 'Funktionaerloven' ... If there is no collective agreement, Bravida applies agreements that are in line with collective agreements" (page 89). All operations are in Sweden, Norway, Denmark and Finland (page 54).
• Pay is measured in one respect only: "For 2025, Bravida calculated the pay gap as being 0.13 percent", while "Bravida has not systematically mapped pay differences for the entire Group" (page 90).

Social protection

Reference: page 90. The ESRS index lists S1-11 at page 90 (page 100).

The disclosure is given in full: "Our people, both employees and non-employees, are covered and supported in these matters by the social protections provided by the respective country's legislation and signed collective agreements. Social protection includes protection in the event of sickness, injury, death, retirement, parental leave and compensation in the event of dismissal. Employees who are made redundant are responsible for their own subsistence in the event of unemployment. There is no information on social protection for non-employees from outside the Nordic countries."

Bravida therefore reports coverage against five of the major life events named by the standard, sickness, injury, death, retirement and parental leave, plus compensation on dismissal, and attributes the coverage to statutory social security and collective agreements in Sweden, Norway, Denmark and Finland rather than to company schemes.

Two limits are stated in the text itself

• Unemployment is expressly not covered by the company: "Employees who are made redundant are responsible for their own subsistence in the event of unemployment."
• The non-employee position is incomplete: "There is no information on social protection for non-employees from outside the Nordic countries."

Health and safety metrics

Reference: page 90. Appendix B gives page 90 for "ESRS S1-14 Number of fatalities and number and rate of work-related accidents paragraphs 88 (b) and (c)" (page 102).

Coverage (page 90): "All employees are covered by the Bravida Way management system, in line with ISO 45001 requirements. The Bravida Way is certified pursuant to ISO 45001 (health and safety) in Denmark and Finland." The system covers 100 percent of employees but third-party certification covers two of four countries.

Metrics, 2024 in brackets (page 90)

• LTIFR: 4.9 (5.9), defined as "Occupational injuries that lead to at least one day of sickness absence per million working hours"
• Fatal accidents: 0 (0)
• Total number of accidents: 1,385 (1,571)
• Number of safety walks: 1,571 (2,026)
• Number of risk observations: 8,187 (6,921)

Accidents fell year on year and risk observations rose, while recorded safety walks fell by more than a fifth.

Scope and stated limitations (page 90)

• "The reporting refers to Bravida's employees, i.e. non-employees are excluded."
• "Bravida does not report work-related ill health separately."
• "Bravida cannot report the number of days lost due to work-related accidents for 2025." Appendix B marks that datapoint, paragraph 88(e), as "n/a" (page 102).
• "Bravida has historically chosen not to report TRIFR ... There is no decision on whether TRIFR will be measured in the future."

Compensation metrics (pay gap and total compensation)

Reference: page 90. Appendix B gives page 90 for "ESRS S1-16 Unadjusted gender pay gap paragraph 97 (a)" and "ESRS S1-16 Excessive CEO pay ratio paragraph 97 (b)" (page 102).

Definitions used (page 90): the pay gap is "the difference between average pay levels among female and male employees, expressed as a percentage of the average pay level of male employees"; the ratio is that of "the highest paid individual to the median annual total remuneration for all employees".

Figures (page 90): "For 2025, Bravida calculated the pay gap as being 0.13 percent and the remuneration ratio as being 15.9."

The caveat the company attaches (page 90): "Bravida has not systematically mapped pay differences for the entire Group, which is explained by the fact that the Group lacks system support to be able to carry out the mapping effectively and correctly. Bravida plans to conduct annual salary surveys in line with the Pay Transparency Directive starting in Q2 2026."

A reported unadjusted gender pay gap of 0.13 percent is strikingly low for a workforce that is 91.4 percent male (12,649 men of 13,832 employees, page 87) in an industry the company calls "traditionally very male-dominated" (page 89), and its own statement that pay differences have not been systematically mapped is the caveat to read alongside it. No breakdown by country, business unit or employee category is given.

Incidents, complaints and severe human rights impacts

Reference: page 90. BP-2 notes the phase-in rules are used "to some extent" for S1-17 (page 52), while the ESRS index still gives page 90 for the disclosure (page 100). Appendix B gives page 90 for "ESRS S1-17 Incidents of discrimination paragraph 103 (a)" and for "ESRS S1-17 Non-respect of UNGPs on Business and Human Rights and OECD Guidelines paragraph 104 (a)" (page 102).

Channels (page 90): "Bravida has a whistleblowing function in accordance with the EU Whistleblowing Directive. The whistleblowing function allows employees to anonymously report non-conformities relating to the Code of Conduct and Bravida's procedures." "In addition to the whistleblowing tool, Bravida also uses the BIA system, in which employees, safety representatives and managers can and should report incidents. This applies to both physical incidents, regardless of the level of 'harm', and psychosocial incidents, which can and should be reported in the tool."

Figures, 2024 in brackets (page 90)

• "The whistleblowing function had 30 (32) cases submitted to it in 2025, of which 1 (1) relates to cases covered by the Act (2021:890) on the protection of persons reporting misconduct."
• "During the year, we did not observe any cases of discrimination or incidents, and no fines, penalties or compensation were payable."

Policies related to value chain workers

Reference: page 93.

Index note: the ESRS index lists "ESRS S2" as a single row covering pages 91-93 marked "Simplified reporting in accordance with 'Quick fix'" (page 100), not S2-1 to S2-5 individually. Appendix B does support this mapping, giving page 93 for "ESRS S2-1 Human rights policy commitments paragraph 17" and "ESRS S2-1 Policies related to value chain workers paragraph 18" (page 103).

The policy (page 93), under the chapter's "Policy" heading: "Bravida's Supplier Code of Conduct, which is in line with our internal Code of Conduct, includes commitments to respect the human and labour rights of workers in the value chain. Suppliers must ensure that their workers have freedom of association and the right to collective bargaining. Forced labour and child labour are not allowed. In addition, workers must not be subjected to discrimination or harassment in the workplace. Suppliers working with Bravida must also guarantee that their employees work in a safe and secure working environment." It "is published on the Bravida intranet and our external website".

Two Appendix B datapoints fall short (page 103): the S2-1 non-respect of UNGPs and OECD guidelines datapoint (paragraph 19) is given pages 79 and 84, which are the taxonomy minimum safeguards and S1 policy pages rather than an S2 disclosure, and the S2-1 ILO fundamental conventions due diligence datapoint (paragraph 19) is marked "Phasing in".

Channels for value chain workers to raise concerns

Reference: page 93.

Index note: the ESRS index lists "ESRS S2" as a single row covering pages 91-93 marked "Simplified reporting in accordance with 'Quick fix'" (page 100), not S2-1 to S2-5 individually. The mapping below follows the S2 chapter's own text.

The channel (page 93): "Bravida's whistleblowing function can be used by employees in the value chain to notify Bravida of shortcomings in their working environment and working conditions." The function operates under legislation implementing Directive (EU) 2019/1937, is promoted "on all internal platforms as well as on the external website", allows complete anonymity, and is monitored by the Chief Legal Officer (page 98). Thirty (32) cases were submitted in 2025, without a breakdown between own workforce and value chain (page 90).

Remediation through the supplier process (page 93): results are "classified into three levels (green, yellow and red) and non-conformities are addressed through action plans that are followed up by the responsible purchaser. Failure to address non-conformities as agreed may lead to cancellation of the existing contract ... In 2025, one supplier was audited. The outcome was that two non-conformities were identified, with recommendations for appropriate remedial action."

Taking action on material impacts on value chain workers

Reference: page 93.

Index note: the ESRS index lists "ESRS S2" as a single row covering pages 91-93 marked "Simplified reporting in accordance with 'Quick fix'" (page 100). Appendix B marks "ESRS S2-4 Human rights issues and incidents connected to the company's upstream and downstream value chain paragraph 36" as "Phasing in" (page 103).

Actions (page 93): "Bravida sets clear requirements for contract suppliers regarding their workers' human and labour rights. We also expect suppliers to pass on these requirements to their subcontractors. These requirements are communicated through our Supplier Code of Conduct, supplier assessments and audits ... Our contract suppliers must agree to comply with our Supplier Code of Conduct and must sign it in our supplier assessment. To the greatest extent possible, Bravida works with a controlled purchasing process that prioritises the use of approved and contracted suppliers. Using processes, system support and training of employees, risk-aware purchasing decisions and reduced use of non-contracted suppliers are promoted."

Monitoring: supplier self-assessment, green/yellow/red classification, action plans with contract cancellation as the sanction, and annual random audits. "In 2025, one supplier was audited. The outcome was that two non-conformities were identified" (page 93). The five-step process is detailed under G1-2 (page 98).

Targets related to value chain workers

Reference: page 93.

Index note: the ESRS index lists "ESRS S2" as one row for the whole standard, pages 91-93, marked "Simplified reporting in accordance with 'Quick fix'" (page 100). The mapping follows the chapter's own "Target" and "Metrics" headings.

The target (page 93): "Bravida set a target in 2023 of 80 percent of our contract suppliers passing our supplier assessment and accepting our Supplier Code of Conduct. The target is open-ended in terms of time and set by Group Management."

The outcome (page 93): "By 2025, 63 (62) percent of our contract suppliers had accepted the Supplier Code of Conduct and passed the supplier assessment. The methodology for collecting surveys was updated during the year to provide a better overview."

The target is missed by 17 percentage points and progress in the year was one percentage point, on a measure whose methodology changed in the same year.

Characteristics. It is a process coverage target, not an outcome target: it measures how many suppliers have signed and passed an assessment, not any change in working conditions, wages, safety or freedom of association. It is "open-ended in terms of time", so there is no target year, no milestone and no 2023 baseline value. No target is set for any of the four material S2 impacts individually (page 92), and nothing is disclosed about engaging value chain workers in setting or tracking it.

Business conduct policies and corporate culture

Reference: page 97. Appendix B gives page 98 for "ESRS G1-1 United Nations Convention against Corruption paragraph 10 (b)" and pages 97-98 for "ESRS G1-1 Protection of whistle-blowers paragraph 10 (d)" (page 103).

"Bravida wants to be seen as a reliable and responsible company. We shall be a good business partner and a market leader in business ethics. We believe in free and fair competition and that all decisions should be based on business considerations, without any personal benefit for those involved."

The Code of Conduct (page 97) is "the main governing document providing guidance regarding how our employees should act responsibly and make correct decisions in everyday working life in meetings with customers, business partners, subcontractors and colleagues". It "is defined by the Bravida Board of Directors" and covers promotion of gender equality and diversity, zero tolerance of harassment and victimisation, "Clear authorisation procedures regulating the authority to take business actions", and anti-corruption. "Bravida's Code of Conduct is based on the ten principles of the UN Global Compact. Bravida's Group Management has ultimate responsibility for implementation of the Group's policies, including the Code of Conduct."

Management of relationships with suppliers

Reference: pages 97-98.

Purchasing is conducted "within the framework of the company's values, which include, among other things, honouring agreements made with business partners, including complying with agreed payment terms, and taking responsibility for the environment, society and the people affected" (page 97).

The five-step supplier evaluation process (page 98)

1. "Supplier Code of Conduct: All suppliers who enter into a contract with Bravida shall accept and sign our code", covering "social conditions, environment, climate and anti-corruption".
2. "Evaluation: All central contract suppliers must carry out a self-assessment ... linked to the areas of human rights and working conditions, health and safety, environment and business ethics."
3. "Assessment and classification" on a three-point scale: green fulfils the requirements, yellow "partially fulfils the requirements or shows need for improvement", red "does not fulfil the requirements or has serious non-conformities".
4. "Follow-up and action plan: For suppliers classified as yellow or red, the respective buyers are responsible for following up the results. An action plan is developed with the supplier to address identified shortcomings within a specified timeframe."
5. "Audit: To ensure the correctness of the supplier's data/responses in the self-assessment, random audits are carried out annually."

Prevention and detection of corruption and bribery

Reference: page 98.

Preventive controls: "the company's Authorisation Instruction sets out a number of conditions that must be met prior to the conducting of any business transaction. Amount limits are applied depending on the purpose of the transaction and the role of the responsible person. All business transactions must also be authorised/signed by at least two people. Within the framework of the company's business system, automated screening of business partners is also carried out to ensure that they do not appear in sanctions registers, are related to the company's employees, etc."

Reporting and investigation: the whistleblowing function is established "in accordance with" legislation implementing Directive (EU) 2019/1937 and is "promoted on all internal platforms as well as on the external website". "Bravida's Chief Legal Officer is responsible for and monitors the handling of all cases raised through the whistleblowing function, in order to ensure proper handling and that employees are not retaliated against ... The channel ensures that whistleblowers can choose to remain completely anonymous."

Targets related to business conduct

Back-filled from the business conduct chapter, where targets fall under the MDR-T/GDR-T disclosures rather than a numbered DR. G1-3 became a standalone DR only in the 2025/2026 ESRS, so this FY2025 report, prepared under the 2023 ESRS, has no section with that number.

Reference: pages 90, 93, 97-98, with the due diligence mapping on page 63.

No numbered target is set in the G1 chapter. The ESRS index lists G1-1 to G1-4 with page references and marks G1-5 and G1-6 "Not material"; no business conduct target row appears (page 100). The due diligence table maps "Track the effectiveness of these efforts and communicating this" to E1-4, E5-3, S1-5 and S1-17, with no G1 disclosure in that row (page 63).

One stated target touches business conduct but sits in the S2 chapter (page 93): "Bravida set a target in 2023 of 80 percent of our contract suppliers passing our supplier assessment and accepting our Supplier Code of Conduct", the Code covering "social conditions, environment, climate and anti-corruption" (page 98). The 2025 outcome was 63 (62) percent.

Consistent with MDR-T's second limb, effectiveness is tracked instead

• "Currently, 93 percent of all salaried employees have completed the mandatory training" on corruption and bribery risks (page 98).
• The Chief Legal Officer "is responsible for and monitors the handling of all cases raised through the whistleblowing function" (page 98).

Incidents of corruption or bribery

Reference: page 98. Appendix B gives page 98 for "ESRS G1-4 Fines for violation of anti-corruption and anti-bribery laws paragraph 24 (a)" and for "ESRS G1-4 Standards for anti-corruption and anti-bribery paragraph 24 (b)" (page 103).

The disclosure is a nil return, in full: "No incidents of corruption, bribery or breaches of competition law were reported in 2025. The company has not paid any penalties and none of its employees have been convicted of any offences relating to corruption, bribery or corruption-related offences."

So Bravida reports zero convictions, zero fines and zero confirmed incidents for the year, and extends the statement beyond the disclosure requirement to cover competition law breaches as well.

What sits behind the nil return

• The whistleblowing function received 30 (32) cases in 2025, of which 1 (1) related to cases covered by the Swedish Act (2021:890) on the protection of persons reporting misconduct (page 90). The cases are not broken down by subject, so their relationship to the nil corruption return is not shown.
• "All reported cases of potential corruption or bribery are investigated under the supervision of Bravida's Chief Legal Officer, to ensure that the matter is handled promptly, independently and objectively" (page 97).