Equinor

The role of the administrative, management and supervisory bodies

Reference: page 86. Composition and diversity datapoints (GOV-1 21 a-e, 22 a-c ii, 23 a-b, AR 3) are incorporated by reference to section 1.7 Governance and risk management and the separate "2025 Board statement on Corporate Governance" (pages 85-86).

Equinor has a corporate executive committee (CEC) and a board of directors (BoD). The CEO "is responsible for day-to-day operations and for the appointment of the CEC", which "consists of six business areas and five staff and support functions", and has appointed an executive vice president for Safety, Security, and Sustainability (SSU) (page 86).

The BoD has three subcommittees (page 86):

• Audit committee (BAC)
• Safety, sustainability, and ethics committee (SSEC)
• Compensation and executive development committee (BCC)

"The BoD has overarching responsibility for managing and supervising the group. Together with its subcommittees (BAC, SSEC and BCC), the BoD works to ensure that sustainability matters are managed in alignment with shareholder expectations", including "conducting dedicated strategy sessions with the CEC twice a year" (page 86).

Information provided to and sustainability matters addressed by the bodies

Reference: page 86.

"The corporate executive committee (CEC), the board of directors (BoD) and its subcommittees are annually informed about material sustainability-related impacts, risks, and opportunities (IROs) across Equinor's activities" (page 86).

Matters the BoD addressed during 2025 (page 86):

• Climate change and energy transition - the BoD "approved the 2025 Energy transition plan including updated transition ambitions" and reviewed ambitions, risks and performance against it.
• Safety and health - serious incident frequency (SIF) and total recordable injury frequency (TRIF) assessed; major incidents and learnings presented to the board or through the SSEC.
• Human rights - raised through regular sustainability risk updates to the SSEC, which "conducted a deep-dive on specific human rights topics" including industry collaborations to address forced labour in the supply chain.
• Cyber, personnel and physical security - the SSEC reviewed the security roadmap and conducted a deep-dive on measures against cyber and insider threats.
• Political engagement and corruption and bribery - policy alignment and monitoring of anti-corruption measures.

Integration of sustainability-related performance in incentive schemes

Reference: page 86. "Disclosure about the incentive schemes and remuneration policies linked to sustainability matters for members of our administrative, management and supervisory bodies are included in section 1.7 Governance and risk management - Remuneration" (page 86).

The incorporation-by-reference table maps ESRS 2 GOV-3 29 a-e) to "Section 1.7 Governance and risk management, and Remuneration report" (page 85), so the substance sits outside the sustainability statement itself.

One quantified link is disclosed inside the statement: upstream CO2 intensity is "the main group-level emissions performance indicator, it is monitored at board level and linked to executive remuneration" (E1-4, page 105). The 2025 result was 6.3 kg CO2/boe against a 2025 ambition of 7 kg CO2/boe (page 108). The statement gives no percentage weighting of sustainability criteria in variable pay within the sustainability statement itself.

Statement on due diligence

Reference: page 87.

Equinor presents a mapping table of the core due-diligence elements against the disclosures that carry them, split into People and Environment columns (page 87):

• Embedding due diligence in governance, strategy and business model - GOV-1;2;3;4, S1-1, S2-1, S3-1, EQN-H&S-1 (people); GOV-1;2;3;5, SBM-3, E2-1, E4-1;2, E5-1 (environment)
• Engaging with affected stakeholders - SBM-2, S1-2;3, S2-2;3, S3-2;3, EQN-H&S-2;3
• Identifying and assessing adverse impacts - IRO-1 plus the topical SBM-3 material IRO sections
• Taking action - S1-4, S2-4, S3-4, EQN-H&S-4; E1-1;3, E2-2, E4-3, E5-2
• Tracking effectiveness - S1-5//17, S2-5, S3-5, EQN-H&S-5; E1-4//9, E2-3;4, E4-4;5, E5-3//5

For the statutory Norwegian Transparency Act due diligence statement the report directs readers to section 2.3 Human Rights (page 87).

Risk management and internal controls over sustainability reporting

Reference: page 87.

"We are in the process of developing a more formalised group framework for internal control over sustainability reporting (ICOSR)", aligned with the COSO 2013 Internal Control Integrated Framework and supplemental COSO guidance for internal control over sustainability reporting. The framework "leverages Equinor's internal control over financial reporting (ICOFR), where relevant processes are being adapted and reused" (page 87).

Key identified inherent risks of misstatement (page 87):

• Accuracy and completeness of raw data and manually transferred data
• Calculation and estimation procedures
• Forward-looking and qualitative information

Improvements implemented in 2025 were "further strengthening and formalisation of controls on an entity level", "implementation of formalised process level controls for high-risk areas" and "design and implementation of controls relating to critical systems used for sustainability reporting, including IT general controls". The ICOFR function "reports on plans, status and improvement initiatives ... to the board audit committee" (page 87).

Strategy, business model and value chain

Reference: pages 92-93.

"Our commitment to sustainability is based on our purpose: Energy for people, progress for society, searching for better", reflected in the strategic pillars always safe, high value, and low carbon (page 92).

Scale and footprint (page 93): "we operate in over 20 countries with approximately 24,000 employees. Each day, we produce about two million barrels of oil equivalent ... and our renewables production is equivalent to powering over one million homes with renewable power."

The value chain diagram (page 93) sets out eleven nodes across upstream (raw material extraction, manufacturing, construction), our activities (oil and gas, renewables, low carbon solutions, investments) and downstream (marketing and trading, society, industry, decommissioning and waste management).

Several SBM-1 datapoints are incorporated by reference (page 85): 40 a-i) and 40 a-ii) to section 1.5 Our business; 40 d-i) to note 5 Segments and note 7 Total revenues and other income; and 40 e), f), g) to section 1.4 Our strategy and transition ambitions.

Interests and views of stakeholders

Reference: pages 94-95.

"Regular engagement with stakeholders by the Board chair, CEO, senior leaders, and core functions ensures that diverse perspectives are reflected in our priorities, due diligence, and materiality assessment" (page 94).

Nine stakeholder groups are tabulated with how engagement is organised, its purpose and its outcomes (pages 94-95): own workforce (annual Global People Survey, work councils, health and working environment committees), trade unions (Basic agreement and local agreements), workers in the value chain (risk-based on-site supplier assessments inclusive of worker interviews), affected communities (impact assessment processes, community liaison officers), suppliers, investors, national governments, regulators and intergovernmental agencies, industry associations and NGOs.

Recorded outcomes include "several newly negotiated collective agreements with relevant unions", "perspectives and insights from worker testimonies are used to inform risk assessments for ongoing and new projects", and "community voices are incorporated into project planning and execution" (page 94).

Material impacts, risks and opportunities

Reference: pages 92, 96-97.

"An overview of our 37 IROs is presented in the table '2025 Material impacts, risks and opportunities'" (page 92). The table (pages 96-97) gives, for each IRO, the ESRS topic, the category (negative or positive, actual or potential impact; financial risk; financial opportunity), placement across upstream, own operations and downstream, and the short, medium and long time horizons.

Distribution by topic: E1 nine IROs (including greenhouse gas emissions, methane emissions, development of renewable energy, higher carbon prices and value related to renewable and low carbon value chains), E2 two, E4 three, E5 two, S1 four, S2 two, S3 two, G1 five, plus the two entity-specific topics EQN Health and safety (five) and EQN Security (three).

Financial-effects datapoints are incorporated by reference: SBM-3 48 d) and 48 e) to note 3 Climate change and energy transition, and 48 f) resilience to section 1.7 and section 5.2 Risk factors (page 85). Equinor states: "Based on current information, the material risks are not expected to cause material adjustments to the carrying amounts of liabilities in the financial statements in the next annual reporting period" (page 92).

Processes to identify and assess material impacts, risks and opportunities

Reference: page 98.

"In 2025, we conducted our third iteration of a double materiality assessment (DMA)", run in four steps: understanding the context; identification and assessment of IROs; validation and anchoring; implementation into the annual report (page 98).

• Scope - the analysis "guided the identification of eight relevant ESRS topics and two Equinor-specific topics for the 2025 DMA".
• Value chain - "the 2025 assessment focused on tier 1 upstream (covering approximately 7,500 suppliers), with selected impacts further down the chain assessed where sufficient basis for assessment existed".
• Stakeholders - "internal subject matter experts (SMEs) were selected for their expertise and ongoing engagement with external stakeholders, acting as proxies to channel insights from affected stakeholders and primary users".
• Impact materiality - impacts "were assessed on a gross basis, with compliance with legal requirements treated as the baseline rather than a mitigation measure"; scoring used severity (scale, scope, remediability) and likelihood.
• Financial materiality - determined by "potential magnitude of financial effects for Equinor (absolute monetary thresholds) and the likelihood of occurrence over the relevant time horizon".
• Sign-off - "final results were reviewed and signed off by executive management committees, including sustainability, CFO, the CEC, and the BoD audit committee".

"All material topics remained unchanged from 2024", with an expanded bottom-up focus on the nature topics (pollution, biodiversity and ecosystems, resource use and circular economy) (page 98).

Disclosure requirements covered by the sustainability statement

Reference: pages 98, 171-174. "The disclosure requirements and phase-in provisions covered by Equinor's sustainability statement are mapped in section 3.5 ESRS index" (page 98).

The ESRS index (pages 171-173) lists each disclosure requirement with its page reference, grouped as general information (BP-1, BP-2, GOV-1 to GOV-5, SBM-1 to SBM-3, IRO-1, IRO-2), environmental (E1-1 to E1-9, E2-1 to E2-4, E4-1 to E4-5, E5-1 to E5-5), social (S1-1 to S1-10 and S1-12 to S1-17, S2-1 to S2-5, S3-1 to S3-5), governance (G1-1 to G1-5), and two entity-specific blocks, EQN Health and safety (EQN-H&S-1 to 5) and EQN Security (EQN-Security-1 to 3).

Not listed anywhere in the index: all of ESRS E3 and ESRS S4, plus E2-5, E2-6, E4-6, E5-6, S1-11 and G1-6.

A separate table, "Use of phase-in provisions" (page 174), lists the reliefs applied "in accordance with those included in the 'Quick Fix' Delegated Act", covering ESRS 2 SBM-3 48 e), the anticipated financial effects DRs E1-9, E2-6, E4-6 and E5-6, E4-3 28 b ii financing effects of biodiversity offsets, and named datapoints under S1-7, S1-8, S1-11, S1-13 and S1-14 88 e.

Transition plan for climate change mitigation

Reference: pages 101-102.

"Climate-related impacts, risks and opportunities are addressed in our Energy Transition Plan (ETP)", which "sets out ambitions and actions in the short and medium term, supporting our ambition to achieve net-zero by 2050". "The ETP is an integral part of the annual business planning process", and "responsibility for our strategy and approval of the ETP lies with the Board of Directors and the CEO" (page 101).

Own operations. "Our ambition is to reduce our net operated emissions (scope 1+2, 100% basis) by 50% from 2015 to 2030. We intend to achieve at least 90% of our 2030 ambition through absolute reductions, using high-quality credits to cover residual emissions. The ambition equals a 45% absolute emissions reduction on a gross basis." A 2030 upstream intensity ambition of 6 kg CO2 per boe applies to operated scope 1. Equinor states plainly: "We have not yet set group-wide ambitions for scope 1+2 emissions reductions after 2030" (page 101).

Net carbon intensity (NCI). The 2030 and 2035 ranges were weakened during the year "to reflect current market conditions and political volatility": 2030 now 5-15% versus a 2019 baseline (previously 15-20%) and 2035 now 15-30% (previously 30-40%); "These revisions do not affect our ambition to achieve net zero emissions in 2050" (page 101).

Paris alignment. "Our 2030 ambition for group-wide scope 1+2 operated emissions is compatible with current science-based trajectories for limiting global warming to 1.5˚C", charted against IPCC AR6 C1 pathways. However, "The NCI metric and milestones are not designed to be aligned with or assessed relative to science-based emissions pathways", and "Equinor is excluded from EU Paris-aligned benchmarks, as we derive 10% or more of our revenues from the exploration, extraction, distribution or refining of oil fuels" (page 102).

Locked-in emissions are defined as future scope 1+2 emissions from "operated active and firmly planned assets over their lifetime, and the cumulative GHG emissions (scope 3) from the use of the products that we produce", covered by forecasts, the ETP ambitions and an action plan (page 102).

Identification of climate-related risks and scenario analysis

Back-filled from E1 IRO-1 "Climate-related risks and scenario analysis" (page 102) and section 5.3 Physical climate risk (page 293), where this content is disclosed in the FY2025 report. This disclosure requirement did not exist under the 2023 ESRS the report was prepared against.

Risk classification. The E1 IRO table separates transition-type financial risks (higher carbon prices; changing stakeholder expectations or climate-related litigation; market effects on the value of the oil and gas business) from physical risk, which is addressed separately (pages 100, 102-103).

Transition risk method. "We use our own energy scenarios (published as Energy Perspectives) as well as scenarios from IEA's World Energy Outlook (WEO) to inform our internal strategy and planning processes ... Robustness to long-term energy and CO2 cost uncertainties and the assessment of political, regulatory and reputational risks are integrated into investment decisions and corporate business planning" (page 102).

Scenarios named (page 103). IEA WEO Current Policies Scenario (CPS), temperature rise to 2100 of 2.9°C; Stated Policies (STEPS), 2.5°C; and Net-zero Emissions by 2050 (NZE), 1.5°C. Testing horizon 2025 to 2100; exploration activities excluded; "The resilience analysis was performed in January, 2026."

Physical risk method (page 293). Acute and chronic hazards are analysed for all assets under financial control and equity accounted assets. "In line with the most recent Status Report on Climate for Norway ... we have this year chosen to use SSP3-7.0 as our high emissions scenario rather than the SSP5-8.5 pathway used in our previous annual reports", corresponding to "a median global temperature increase of approximately 3.6 °C by 2100 ... with a very likely range of 3.1-4.2 °C"; SSP5-8.5 is retained for wave conditions. "In 2025 we assessed the exposure of almost 100% of our assets by book value across 130 locations."

Conclusion. "We have not identified physical climate risk as material based on our current assessment of the portfolio. However, as our methodology and portfolio evolves, this may change in the future" (page 103).

Resilience in relation to climate change

Back-filled from the E1 section "Resilience in relation to climate change" (page 103) and ESRS 2 SBM-3 48 f), which is incorporated by reference to section 1.7 Governance and risk management and section 5.2 Risk factors (page 85). This disclosure requirement did not exist under the 2023 ESRS the report was prepared against.

What was tested. "To assess transition risk and compatibility with Paris-aligned global emission reduction pathways, we conduct annual resilience tests on our portfolio, using the IEA WEO scenarios. For 2025, we continue to include IEA's STEPS and NZE scenarios in the analysis, and we are now also adding the reintroduced Current Policies Scenario (CPS)." The test measures "the net present value after tax (NPV) under price assumptions for oil and natural gas, and CO2 tax based on each of the WEO scenarios" against internal management price assumptions (page 103).

Results (page 103). NPV scenario impact: CPS +10%, STEPS (1)%, NZE (28)%.

Capacity to adjust. "Our portfolio and capex flexibility can reduce the negative impact seen in the low-price scenarios by mitigating actions such as re-optimising the non-sanctioned portfolio" and "Our capital allocation is designed to provide flexibility to optimise our portfolio". Within the oil and gas development portfolio, "projects coming on stream in the next 10 years have a payback time of around 2.5 years and an average break-even price of around 40 USD/bbl. Accordingly, our oil and gas portfolio is expected to remain robust even to a sharp decline in prices" (page 103).

Stated uncertainty. "Importantly, in the scenarios only oil, natural gas and CO2 prices are varied, not reflecting the potential impact on our renewable and low carbon solution portfolio in a scenario of accelerated transition", and exploration activities are excluded "due to the uncertainties related to potential discoveries and development solutions" (page 103).

Policies related to climate change mitigation and adaptation

Reference: page 104. Key contents of each governing document are set out in General disclosures - Sustainability policies (pages 88-91).

The policies Equinor lists against E1 (page 104):

• Equinor Book - the core document of the management system
• Code of Conduct (corporate policy)
• Environmental Policy (corporate policy)
• Sustainability (function requirement)
• Business Development (function requirement)
• ESG Data for Performance Management and Reporting (work requirement)

The Environmental Policy "applies across Equinor-operated assets and Equinor-controlled companies for all activities and phases of the capital value process", sets out how Equinor "seek[s] to avoid, minimise, and mitigate potential direct negative impacts", and references "the Paris Agreement and the Kunming-Montreal Global Biodiversity Framework". "For climate-related matters, the policy includes identifying actual and potential impacts, risks and opportunities related to greenhouse gases and other emissions to air as part of our due diligence approach." It is owned by the EVP of safety, security and sustainability (page 89).

Actions and resources in relation to climate change policies

Reference: pages 108-111.

Resources (page 108). A capex table splits spending by ambition: decarbonisation supporting the operated scope 1+2 ambition, USD 0.2 billion in 2025 and around USD 0.5 billion for sanctioned projects over 2026-2030; renewables and low carbon solutions supporting the NCI ambition, USD 2.9 billion in 2025 (USD 2.2 billion in 2024) and around USD 4.0 billion for 2026-2030. Named projects include electrification of Troll B and C, Oseberg South, Oseberg Field Centre, Njord and Hammerfest LNG, the Statfjord power system retrofit, Empire Wind, Dogger Bank, Bałtyk 2 and 3, Northern Lights phase 2, Northern Endurance Partnership and Net Zero Teesside.

Levers. "Our actions to reduce our operated GHG emissions involve a combination of measures, including electrification of long-lifespan installations, energy efficiency measures and portfolio management", with "around one hundred actions under implementation or planning" on energy efficiency (page 108).

2025 outcomes (page 108). "Since 2015, we have reduced our operated GHG emissions by 34%. In 2025 our emissions were 10.1 million tonnes CO2e, i.e at the same level as in 2024". Counter-evidence is disclosed: "In October, Equinor decided to stop two early-phase electrification projects in Norway (Tampen and Halten) due to high abatement cost and lack of political support." Upstream CO2 intensity was 6.3 kg CO2/boe, up from 6.2 but below the 2025 ambition of 7.

Methane (page 109). Source-level quantification at all operated assets, 39 site-level measurements in 2025, leak detection and repair at all operated assets, and abatement projects "with potential for approximately 700 tonnes methane emissions reductions" in process or under evaluation. Reporting is "consistent with OGMP 2.0 level 4 and we are advancing towards level 5".

Low carbon (pages 109-110). Renewable electricity production rose from 2.9 TWh to 3.7 TWh; "In 2025 we started injecting CO2 at the Northern Lights facility, with 0.013 million tonnes CO2 stored on equity basis", and construction started on Northern Lights phase 2, expanding storage capacity "from 1.5 to over 5 million tonnes per annum".

Targets related to climate change mitigation and adaptation

Reference: pages 105-107.

The ambitions table (page 105) gives baseline year, baseline value, 2025 result and milestones:

Milestones are -45% gross and -50% net operated scope 1+2 by 2030 and net zero by 2050; upstream CO2 intensity of 6 kg CO2/boe by 2030; methane near zero, defined as "<0.02% of marketed gas" (page 107); NCI -5-15% by 2030 and -15-30% by 2035; maritime -20% and -70% milestones on the way to net zero.

Coverage and validation. Scope 1 is "approximately 3% of our total GHG emissions", scope 2 "0.03%-0.4%", and "Indirect value chain emissions (scope 3) constitute 97% of our total GHG emissions". "The ambitions cover 92% of our value chain emissions". Equinor states: "Our ambitions have not been assessed by the Science-Based Targets initiative (SBTi), which does not have a sector-specific standard for the oil and gas industry" (page 105).

Stated limitations. "Our NCI ambition is not fully aligned with the ESRS definition and boundaries", and "We acknowledge that it may be possible to see reductions in an intensity based scope 3-related metric while seeing higher absolute scope 3 emissions depending on demand and product mix". Absolute scope 3-related emissions under the NCI metric are estimated at "around 255 and 230 million tonnes" in 2030 and 2035; a 2050 figure "is not available as it falls outside the time horizon of current business planning" (page 107).

Energy consumption and mix

Reference: page 112. Reporting boundary is financial control.

"In 2025 the total energy consumption from own operations was 34 TWh, a change of -3% compared to 2024. Energy consumption from fossil, nuclear and renewable sources accounted for 98%, 1% and 1% of the total energy consumption, respectively" (page 112).

Consumption detail (GWh, 2025 versus 2024):

• Fuel from crude oil and petroleum products 7,445 (-5%)
• Fuel from natural gas 21,814 (unchanged)
• Fuel from other fossil sources 2,128 (-19%)
• Purchased electricity, heat, steam and cooling from fossil sources 1,951 (-22%)
• Total fossil 33,338 (-4%); nuclear 389 (+45%); renewable 425 (+23%)
• Total energy consumption 34,152 GWh (-3%)

"Energy intensity from activities in high climate impact sectors" was 325 MWh per USD million of net revenue, down 7%. A footnote records that 2024 total energy consumption "has been revised from 37,518 GWh due to a correction of reported natural gas consumption" (page 112).

Production is reported separately on an equity share basis: oil and gas production 1,235,021 GWh (+3%), renewable energy production 3,504 GWh (+25%), renewable energy delivered to grid 8,652 GWh (+79%).

Gross Scopes 1, 2, 3 and Total GHG emissions

Reference: pages 113-115.

Own operations, financial control basis (million tonnes CO2e, 2025 versus 2024):

• Scope 1: 7.8 (-5%), of which 64% falls within regulated emission trading schemes
• Scope 2: 0.08 location-based, 1.2 market-based (-19%)
• Significant scope 3: 287.6 (+3%) - purchased goods and services 2.6, capital goods 0.5, upstream transportation and distribution 3.8, processing of sold products 13.7, use of sold products 257.8, end-of-life treatment 6.4, financial investments 2.8
• Total: 295.6 location-based / 296.7 market-based (+3%)
• GHG intensity per net revenue: 2,808 (location-based) and 2,819 (market-based) tCO2e per USD million

On an operational control basis scope 1 was 10.0 Mt CO2e and scope 2 market-based 2.4 Mt CO2e (page 113).

Boundary change. "There is a change in the assets included in operational control boundaries from 2025 related to Technical Service Provider arrangements ... If the 2025 boundary was applied to the 2024 figures the total scope 1 GHG emissions would have been 10.1 million tonnes CO2e" (page 113).

Exclusions (page 114). Scope 3 categories 3, 5, 6 and 7 "are not included in the reporting based on a materiality assessment (<0,2% of total scope 3 emissions)"; categories 13 and 14 "are excluded, as they are not relevant to Equinor's operations"; category 8 is covered within category 1; and "category 9 (Downstream transportation and distribution) is not currently reported". Only about 2% of scope 3 rests on primary data.

Equinor notes that "The greenhouse gas emissions table does not follow the exact structure of the example provided in the ESRS E1" and that emissions are not disaggregated by business area (page 113).

GHG removals and GHG mitigation projects financed through carbon credits

Reference: page 114.

Removals. "CO2 handling for three of the five confirmed customers for Northern Lights will result in GHG removals. In its first phase, Northern Lights will transport and store biogenic CO2 removals from the Celsio waste-to-energy plant in Oslo and the Ørsted biomass power stations Asnæs and Avedøre in Denmark. Starting from 2028, as part of the announced phase 2 expansion, Northern Lights will transport and store up to 900,000 tonnes of biogenic CO2 removals annually from the Stockholm Exergi bio-energy carbon capture and storage (BECCS) facility."

Carbon credits. "In the reporting period 2025, Equinor retired 41,385 metric tonnes of CO2e carbon credits that were verified against a recognised quality standard", purchased to cover employee business flights outside Europe (upstream scope 3 category 6). "In 2025, Equinor used only Verra's Verified Carbon Standard (VCS) and 100% reduction credits. The reduction credits were not purchased from European projects and did not qualify as a corresponding adjustment under Article 6 of the Paris Agreement."

Neutrality claims. "Equinor has not made public claims of greenhouse gas neutrality involving the use of carbon credits" (page 114).

Internal carbon pricing

Reference: page 104.

"We are subject to CO2 costs related to our oil and gas production and processing. In addition to CO2 taxes in Norway, we are exposed to the EU ETS in Norway and Germany and emission trading systems in the UK and Canada. The actual CO₂ costs for Equinor-operated assets were USD 1,062 million on an operational control basis in 2025" (page 104).

Scheme design. "The cost of carbon is part of our base assumptions for portfolio and decision analysis. It is included in investment decisions and is part of break-even calculations when testing for profitability robustness." Equinor forecasts the EU ETS price, the UK ETS price and the Norwegian carbon tax, and applies "an internal carbon price ... in countries not covered by carbon price schemes", based on current carbon cost policy trajectories in major markets.

Coverage. "We apply internal carbon pricing for 100% of our scope 1 emissions, equal to 9.7 million tonnes CO2 for emissions under operational control in 2025. Our scope 2 and 3 emissions are not covered by internal carbon pricing."

Carbon cost relative to Equinor's base assumptions is charted per IEA scenario: NZE 103%, Equinor 100%, STEPS 92%, CPS 91% (page 104).

Policies related to pollution

Reference: page 119. Key contents of each governing document are set out in General disclosures - Sustainability policies (pages 88-91).

The policies Equinor lists against E2 (page 119):

• Code of Conduct (corporate policy)
• Environmental Policy (corporate policy)
• Sustainability (function requirement)
• Business Development (function requirement)
• Supply Chain Management (function requirement)
• ESG Data for Performance Management and Reporting (work requirement)
• Framework for Major Accident Prevention (work requirement)
• Biodiversity Position (position statement)

The Framework for Major Accident Prevention "defines a structure based on recognised industry practice for high-risk industries and applies to all parts of our business that affect major accident risk", built on three pillars supporting "Always safe" and owned by the VP of safety (page 91). The Environmental Policy sets out how Equinor "seek[s] to avoid, minimise, and mitigate potential direct negative impacts from our business activities" (page 89).

Actions and resources related to pollution

Reference: page 120.

Pollution control. "Pollution control is an integrated part of our maintenance programs, management of technical integrity and process optimisation across all our operations. To reduce the risk of leakage and spills, equipment is evaluated and tagged based on its health, safety & environment criticality." Equinor "qualified the use of underwater drones to collect subsea leak detection data" during the year. "In 2025, measurements indicated a 3% reduction in NOx emissions and a 6% reduction in SOx emissions compared to the levels recorded in 2024 for our offshore assets" (page 120).

Chemicals. "Continuous improvement regarding chemical optimisation and substitution of hazardous chemicals have been strategic priorities over several years", supported by yearly meetings with chemical suppliers "to discuss key topics such as substituting hazardous chemicals, testing and qualifying new alternatives, and upgrading equipment and processes to reduce chemical usage and discharges".

Certification. "In 2025, our onshore facilities in Norway continued the efforts to certify their energy and environmental management system to ISO 14001 and ISO 50001 ... the formal certification audits are aimed to be scheduled for 2026".

Oil spill preparedness. Equinor supported SINTEF studies on subsea dispersant injection at shallower depths, now available as a module in the Oil Spill Contingency and Response (OSCAR) model, and is in a consortium developing subsea mechanical dispersion technology, where "The construction of a full-scale prototype has started, and is expected to be completed in 2026" (page 120).

Targets related to pollution

Reference: page 121.

Equinor discloses one pollution target: frequency of oil spills and gas leakages, "maintained ... across all Equinor operated assets, established through engagement with internal stakeholders and with reference to industry standards".

"The target is 0.5 incidents per month. In 2025, the annual average was 0.58 incidents per month, exceeding the target and remaining unchanged from 2024. This performance highlights the need for continuous focus on strengthening barrier management and general awareness" (page 121). The 2023 figure was 0.83.

Methodology: "The target includes incidents classified as red or yellow following Equinor's risk matrix (e.g. >0.1 kg/sec or brief leakages >1kg). The target is an ongoing objective, without a specified baseline year or value. Performance against the target is evaluated in the management information system (MIS) across relevant management levels" (page 121).

Effectiveness of the wider policies and actions is tracked "through close follow up of performance related to permit limits" (page 121).

Pollution of air, water and soil

Reference: pages 121-122.

"For our operated assets, emissions to air and discharges to sea that exceed the Annex II thresholds of the European Pollutant Release and Transfer Register (E-PRTR) are presented in the tables below" (page 121). Reporting covers both operational control and financial control boundaries.

Selected 2025 amounts on an operational control basis (kg per year, page 122): nitrogen oxides 27,094,096; non-methane volatile organic compounds 24,328,589; sulphur oxides 1,524,984; carbon monoxide 1,879,275; particulate matter (PM10) 71,746; HFCs 1,031. Discharges to water: benzene (as BTEX) 1,246,077; phenols 244,477; PAHs 68,520; naphthalene 28,652.

Movements explained. The NOx reduction "reflects the absence of mobile drilling activity on Johan Sverdrup, continued electrification efforts at Troll C and turnaround activities at the Hammerfest LNG plant and Mongstad facility"; the SOx increase "is attributed to 2.5 months of turnaround activities at the Mongstad facility"; and the rise in benzene, phenols and PAH discharges "is primarily attributable to changes in calculation methodology and improved data quality and collection ... the change does not reflect an actual decline in environmental performance" (page 121).

Enforcement and incidents. "In November 2025, Equinor Refining Norway AS ('Equinor Mongstad') was charged with violations of the Pollution Control Act ... The proposed penalty from Økokrim is a fine of NOK 220 million and a confiscation claim of NOK 500 million. Equinor has contested the penalty notice from Økokrim and intends to litigate this matter." Separately, "On December 31, 2024 approximately 77 m3 crude oil was unintentionally discharged from the Njord A platform due to failure in the produced water treatment system", with the internal investigation completed and "no documented oil-damaged wildlife or other environmental damage" (page 121).

Transition plan on biodiversity and ecosystems

Reference: page 123. The report titles this disclosure "Transition plan and consideration of biodiversity and ecosystems in strategy and business model".

"We recognize the importance of a well-functioning natural environment and that actions are needed to meet the challenges of biodiversity loss. We integrate biodiversity considerations into planning, development and operations (E4-2) in recognition of the need to halt and reverse nature loss as set out in relevant international frameworks such as the Kunming Montreal Global Biodiversity Framework and the EU Biodiversity Strategy for 2030" (page 123).

"Our business decisions therefore rest on thorough risk based due-diligence, impact assessments and application of the mitigation hierarchy, to focus on avoidance and minimisation of harm ... This is evaluated at planning and monitored through operation and across the life of the project. We work closely with external stakeholders, such as local authorities and local communities, and consult with external experts" (page 123).

The supporting Biodiversity Position "aims for a net positive impact in areas of high biodiversity value, in support of global ambitions to reverse nature loss. It includes a net-positive approach, voluntary exclusion zones, research participation, industry partnerships, and investments in nature-based solutions" (page 90). No dated transition-plan milestones or quantified biodiversity targets are given; targets "are yet to be set" (E4-4, page 126).

Policies related to biodiversity and ecosystems

Reference: page 124. Key contents of each governing document are set out in General disclosures - Sustainability policies (pages 88-91).

The policies Equinor lists against E4 (page 124):

• Code of Conduct (corporate policy)
• Environmental Policy (corporate policy)
• Sustainability (function requirement)
• Business Development (function requirement)
• Supply Chain Management (function requirement)
• ESG Data for Performance Management and Reporting (work requirement)
• Biodiversity Position (position statement)

The Biodiversity Position "aims for a net positive impact in areas of high biodiversity value ... It includes a net-positive approach, voluntary exclusion zones, research participation, industry partnerships, and investments in nature-based solutions", owned by the EVP safety, security and sustainability (page 90). The Environmental Policy commits to supporting "coordinated efforts that benefit nature in line with relevant international conventions and agreements, including the Paris Agreement and the Kunming-Montreal Global Biodiversity Framework" (page 89).

Three ESRS E4-2 datapoints derived from other EU legislation (paragraphs 24 b, c and d) are mapped to page 124 in the Other EU legislation table (page 294).

Actions and resources related to biodiversity and ecosystems

Reference: pages 124-125.

"Actions support our Environmental Policy and Biodiversity Position ... These short- to medium-term actions focus on our own operations, principally to understand, avoid and minimise potential impacts while identifying relevant opportunities for further nature enhancing measures. No biodiversity offset projects or credits were used in our actions in 2025" (page 124).

Avoidance. "To support our actions to avoid harm, we are committed to not undertake any industrial activity in i) UNESCO world heritage sites, or ii) areas classified under the 2021 International Union for Conservation of Nature (IUCN) categories 1a 'Strict nature reserve' or 1b 'Wilderness area'" (page 124).

Net positive impact plans. "From 2023, Equinor operated projects that geographically overlap with a protected area or area of high biodiversity value, are required to develop a net positive impact plan (NPI) ... In 2025 our first NPI plan was completed by Empire Wind in New York, USA", which "will contribute to ocean health through oyster bed restoration and additional long-term marine mammal monitoring programmes" (page 125).

Site specific inventories. "In 2025 we can report that all of our operational sites have identified their SSI's", with key biodiversity features "primarily seabirds, including Black-legged kitiwakes (Rissa tridactyla), and Atlantic puffins (Fratercula arctica)" (page 125).

Monitoring technology and research (page 124). Environmental DNA for early detection of invasive sea-vomit (Didemnum vexillum) in Norway; AI for automated detection of seabed biology and of birds to monitor turbine collision risk; underwater acoustics at floating wind parks. A pilot completed in 2025 supported "kelp restoration in Northern Norway through the development of artificial kelp reefs in Melkøysund with the Institute of Marine Research and the local municipality".

Collaboration. "In 2025, we co-chaired the Ipieca task force behind the report 'Marine net positive impact concepts and approaches'" (page 125). Financing effects of biodiversity offsets (E4-3 28 b ii) are covered by a phase-in provision (page 174).

Targets related to biodiversity and ecosystems

Reference: page 126.

Equinor discloses that it has none. "We track the effectiveness of the actions to address material impacts and measure the progress of our policies' objectives as part of our risk-based management approach ... Corporate targets in relation to biodiversity and ecosystems are yet to be set. Our medium to long term ambition is to set targets that build on the mitigation hierarchy. This year's review and ongoing research will inform future target-setting approaches" (page 126).

The review referred to is of the Net Positive Approach methodology: "In 2024, we reported on the prior development of our Net Positive Approach methodology. This year we have started to review its achievements, and efficacy. This includes reviewing our governance, methodologies and ambitions relating to biodiversity, and testing the resilience of the current approach to anticipated regulatory, economic and environmental pressures in different areas of the business." Equinor adds that "Measuring net positive outcomes, particularly in marine environments, remains challenging as industry standards evolve" (pages 124-125).

Project-level target setting does exist within the NPI methodology, whose step 3 is "Set project specific targets" (page 127), and an expected timeline for delivery of site specific inventory measures "has not yet been established" (page 127).

Impact metrics related to biodiversity and ecosystems change

Reference: pages 126-127.

Material sites. "Material sites are defined as sites where the avoidance and minimisation measures, as defined by the mitigation hierarchy, have not been deemed sufficient to fully mitigate the environmental impacts such that restoration and/or compensation/offset efforts are necessary. Five assets were identified this year as material due to project specific impacts" (page 126). They are named: Sheringham Shoal and Dudgeon (seabird collision risk adjacent to Emerald Network and OSPAR Marine Protected Areas), Serra da Babilonia (solar complex affecting endangered species habitat, adjacent to Parque Estadual Do Morro Do Chapéu), Raia (pipeline landfall bordering Parque Nacional Restinga De Jurubatiba) and Empire Wind (underwater noise intersecting the migration route of the endangered North Atlantic Right Whale, Eubalaena glacialis). "We have material sites that affect threatened species."

Assets in or near biodiversity-sensitive areas, 2025 (page 126). Operational control: 9 assets in protected areas covering 11,604 ha; 11 assets in KBA/SVO covering 103,643 ha; 9 assets near protected areas (4,661 ha); 7 near KBA/SVO (11,670 ha). Partner-operated: 2 assets in protected areas covering 179,614 ha.

Methodology (page 127). Material sites were identified "through GIS analysis mapping all Equinor assets within 20 km of biodiversity sensitive areas". Screening uses the World Database on Protected Areas, IUCN Key Biodiversity Areas and Norwegian SVO areas, with the MAREM dataset added for Brazil; "A buffer of 1 km is used for all activities, with the exception of pipelines and cables which used a 5 m buffer." Equinor flags that "A consequence of increased data quality is a change in the reported assets and activities in 2025", so year-on-year comparison is limited.

Policies related to resource use and circular economy

Reference: page 128. Key contents of each governing document are set out in General disclosures - Sustainability policies (pages 88-91).

The policies Equinor lists against E5 (page 128):

• Code of Conduct (corporate policy)
• Environmental Policy (corporate policy)
• Sustainability (function requirement)
• Business Development (function requirement)
• Supply Chain Management (function requirement)
• ESG Data for Performance Management and Reporting (work requirement)

The Function Requirement on Supply Chain Management "sets out requirements related to procurement and logistics of materials, goods and services", including that "key suppliers shall be managed using risk-based models" (page 90). The Environmental Policy "applies across Equinor-operated assets and Equinor-controlled companies for all activities and phases of the capital value process" (page 89).

Equinor also records a scoping decision within E5: "Despite the importance of acknowledging the overarching environmental impact of our end products, our products were not deemed relevant for consideration in the circular economy section, given their exhaustible nature" (page 128).

Actions and resources related to resource use and circular economy

Reference: pages 128-129.

"In 2025, we built on our existing initiatives and launched new ones to advance our environmental ambitions and reduce our impacts through a stronger circular economy approach. Our actions are aimed to be completed over the short to long term" (page 128).

Reducing value loss. "In 2025, we have upscaled the application of 3D printing technology together with our suppliers, and approximately 3,000 3D printed metal parts were produced and installed." A strategic initiative within projects and drilling emphasises "standardisation and simplification in our requirements", and "In 2025, we incorporated ambitions to use recycled steel in a future offshore wind project" (pages 128-129).

Named 2025 cases (page 129). Circular mindset in projects - the Åsgard Subsea Compression 2 project "applied a circular approach by using spare parts from existing inventories for parts of one module, and refurbished equipment for another", leading to "the reduction of virgin steel by approx. 100 tonnes". Reducing value loss of steel - "In 2025, 1,500 tonnes were successfully recycled, while close to 20,000 tonnes were repurposed mainly for piling foundation." Repurposing drilling chemicals - base oil reuse with drill cuttings upcycled "into ingredients for our cement chemicals", though "still in its early stages and limited in scale".

Waste. "In 2024, we initiated the Integrated Waste Management Project ... In 2025, the project progressed towards launch and implementation through three strategic workstreams: developing innovative solutions to address treatment and storage capacity challenges, fostering stronger industry collaboration, and reducing waste at source" (page 129).

Critical raw materials. "Critical raw materials (CRMs), although not material, are of growing strategic importance ... in 2025, we initiated a task on CRMs to enhance our understanding of their role and presence in our operations" (page 129).

Targets related to resource use and circular economy

Reference: page 130.

Equinor discloses that it has none. "We have not yet set formal corporate targets in relation to resource inflows and outflows, including waste, products and materials. In 2025, we focused on improving our reporting of resource inflow in order to provide a foundation on which we can set appropriate time bound and measurable targets in the medium term. We aim to set corporate targets that address material impacts related to resource use and circular economy, aimed at reducing the use of virgin materials, increasing reuse and recycling efforts, and minimising waste generation" (page 130).

In place of targets, effectiveness is tracked against historical data: "We are tracking the effectiveness of our implemented actions by assessing historical data in order to monitor trends and improvements. For new data in 2025, we have gathered data for the financial year, providing a foundation for tracking improvements in upcoming years" (page 130).

The absence of a target base year matters for interpreting the metrics: steel data for 2024 and 2025 "are not directly comparable" because of a methodology change, and chemicals "were deemed material in 2025, consequently, data are not reported for 2024" (page 130).

Resource inflows

Reference: page 130.

"In 2025, we focused our reporting on steel products and chemicals. The double materiality assessment identified these resource inflows as material based on their considerable volumes and the associated value loss associated with their use" (page 130).

Material use, 2025:

• Steel 177,826 tonnes (financial control) and 364,822 tonnes (operational control; 308,306 tonnes in 2024)
• Chemicals 210,002 tonnes
• Reused or recycled materials: steel 55,028 tonnes; chemicals 50,239 tonnes
• Secondary share: steel 31%, chemicals 24%

"Our reported steel includes both low- and high alloyed steel. In 2025, most of it was used either in drilling operations, such as in casing and tubing, or large projects that commenced operation, such as Johan Castberg and Bacalhau." Chemicals cover "chemicals used for production and drilling activities offshore, and all chemicals used at our onshore facilities" (page 130).

Basis of the secondary-content estimates. The 31% steel figure "is based primarily on World Steel Association data on average scrap input rates across major product categories", refined with Environmental Product Declarations where relevant. The 24% chemicals figure is "mainly due to the high circularity of drilling fluids under our supplier loan agreements. Since we only have data on volumes sent for reuse, we assume that the recycled content entering our system is equal to the recycling rate of the outgoing flow ... For chemicals for which we lack reliable data, we have assumed 0% recycled content" (page 130). BP-2 flags E5 resource inflows as an area where "certain data ... are derived from estimates" (page 84).

Resource outflows

Reference: page 131.

"While we produce a variety of outflows, our products are generally designed for consumption, and therefore linear by definition. Our products are therefore not addressed in our consideration of resource outflows" (page 131). The disclosure is consequently confined to waste.

"Our 2025 reporting highlights the most significant resource outflows as determined by our double materiality assessment, which are waste from our operations. We have identified drilling waste and contaminated water as the two largest waste streams. Drilling waste consists of both solid and liquid fractions, including drill cuttings and oil or water emulsions, while produced water is oil-contaminated water from the production process" (page 131).

2025 totals (tonnes, operational control / financial control):

• Total waste generated 314,448 / 1,004,399
• Waste diverted from disposal 23,048 / 313,511
• Waste directed to disposal 291,400 / 690,888
• Non-recycled waste 156,037 (87%) / 87,733 (22%)

Equinor does not disclose recycled or reused content of products, expected durability, or repairability rates, consistent with its position that products are outside the scope of this disclosure. Waste detail and the classification change applied in 2025 are set out in the Waste entry.

Waste

Reference: page 131.

The waste table sits inside E5-5 Resource outflows and is reported on both an operational control and a financial control basis (tonnes, 2025):

Disposal is broken down by incineration, landfill and other disposal operations for both hazardous and non-hazardous streams; on an operational control basis, "other disposal operations" accounted for 134,505 tonnes of hazardous waste directed to disposal (page 131).

Classification change. "For 2025, our waste reporting reflects a correction of the classification of wastewater treated by third parties, following updated interpretation of the EU Waste Framework Directive. The 'remediated waste' fraction has been reclassified from waste diverted from disposal through recovery operation to waste directed to disposal. For comparability, 2024 figures have been updated using the same classification and calculation approach" (page 131).

Data basis. "We have direct measurements for operated assets, for which our waste contractors provide monthly reports ... For partner-operated assets, the figures are derived from a combination of supplier-provided data and internal estimates", and the operational control boundary changed in 2025 because of Technical Service Provider arrangements (pages 84, 131).

Policies related to own workforce

Reference: page 134. Key contents of each governing document are set out in General disclosures - Sustainability policies (pages 88-91).

The policies Equinor lists against S1 (page 134):

• Code of Conduct (corporate policy)
• Human Rights Policy (corporate policy)
• People and Organisation (function requirement)
• Sustainability (function requirement)
• ESG Data for Performance Management and Reporting (work requirement)
• Human Rights Due Diligence (work requirement)

The Human Rights Policy "confirms our commitment to strive to conduct our business consistently with the UN Guiding Principles on Business and Human Rights (UNGPs)", sets out four priority (salient) human rights issues, and includes commitments "such as working to ensure safe, healthy and secure working conditions, fair treatment, non-discrimination, and respect for the right of freedom of association and collective bargaining", with "explicit provisions regarding human trafficking, forced labour and child labour" (page 89).

Additional measures (page 134). "Our global paid parental leave policy ensures all our employees to a minimum of 16 weeks fully paid leave after birth", supplemented by country-specific arrangements and flexible remote work.

Forced and child labour. "None of our own operations are considered to be at risk of significant incidents of forced, compulsory or child labour" (page 134).

Processes for engaging with own workforce and workers' representatives

Reference: pages 134-135.

Global People Survey (GPS). "The GPS is the annual people survey sent to all permanent employees globally", delivered by an external provider, with responses confidential. "Results reported with five or more respondents are provided for all units across the various business lines, countries and locations. All leaders receiving a GPS results report are responsible for following up with the results and actions together with their team." Workload experience "is monitored annually through our GPS survey", followed up by leaders with support from People and Organisation and Health and Working Environment (page 134). The 2025 response rate was 88% (page 141).

Unions. "We engage with employee representatives on labour matters through a variety of channels, including meetings with labour unions on all levels of the organisation, works councils, and health and working environment committees ... In 2025, several collective agreements were negotiated with relevant unions. The majority of these were interim settlements that mainly covered the annual wage increase." Topics covered through the year included "changes to the legislative framework, change processes, working time, rotations and shift work, career development, and retirement age". "Employee Relations oversees union negotiations, and the Vice president for employee relations is accountable for this engagement" (page 134).

Agreements on equality, equity and diversity in Equinor ASA are held with Styrke, Lederne, NITO, Tekna and YS (page 135).

Employee resource groups. Six voluntary, employee-led groups focus on "gender, ethnicity. LGBTQ, mental health, disabilities and neurodiversity" (page 135).

Processes to remediate negative impacts and channels to raise concerns

Reference: page 135.

"As outlined in our Code of Conduct, we do not tolerate any discrimination or harassment of colleagues, or others affected by our operations, and require everyone to be treated with fairness, respect, and dignity." Leaders are expected to hold regular one-to-one conversations and "create a safe and open space where employees can share their needs ... If employees are uncomfortable speaking to their direct leader, they may use other channels for raising concerns" (page 135). Channel detail sits in G1-1 (page 165).

Remedy. "Although we do not tolerate discrimination and harassment, incidents do occur. In these instances, remediation is essential ... We do not tolerate any forms of retaliation to those who raise a concern with us in good faith" (page 135).

Harassment handling. "We have clear guidelines for handling harassment and bullying. This outlines processes and expectations for the correct management of harassment-related cases, ensuring that individuals are respected and heard, conflicts of interest are avoided and proper documentation is secured ... The guidelines also require that appropriate remedial measures are taken and implemented." In 2025 the Code of Conduct was updated with "strengthened emphasis on the expectation of leaders and employees to contribute to a working environment free from harassment and discrimination" (page 135).

Sexual harassment. Actions across 2024-2025 included safety moments, learning sessions and embedding the topic in leadership development. "We have established a task force led by People and Organisation, to review implemented preventative measures globally, identify learnings and provide recommendations for way forward", with focused work on graduates and apprentices as the most vulnerable groups. Effectiveness is tracked through "GPS data from the questions regarding employees feeling safe to speak up without fear of retaliation" (page 135).

Taking action on material impacts on own workforce

Reference: pages 135-137.

Working hours. "To enable our leaders to prevent excessive working hours for employees, we have implemented a reporting tool, the Line Manager Dashboard, to ensure that working hours remain within the applicable legal frameworks. The tool covers all employees who are required to track their hours" (page 135).

Diversity and inclusion. The D&I strategy rests on "three key enablers: global ambition with a local approach, transparency in data and processes, and focus on leadership and culture", driven by the corporate People and Organisation function. "The Global People Survey (GPS), our ethics helpline, leadership and employee engagement were used to identify risks of discrimination in the workplace" (page 135). Local roadmaps were run in Brazil and, from 2025, in the Drilling & Well area, the latter "grounded in data that showed significantly less women in operational leadership roles in certain locations"; "An evaluation of initiatives and progress is planned for 2026" (page 136).

Disability inclusion. "In 2025, senior leadership set an ambition and direction to strengthen the inclusion of people with disabilities", with a roadmap, an accessibility portal, a mapping collaboration with the Norwegian Handicap Association in Norway, and work on universal design "aim[ed] for this to be implemented in 2026-2027" (page 136).

Pay. "We are continuously improving our job architecture to be gender neutral in pay", supported by the new Workday HR system, and "We are closely monitoring global pay transparency legislation" (page 137).

Training. The Equinor Corporate University "is mandated to deliver all formal training worldwide"; "Our overall investment in formal training and skills development remains stable during 2025" (page 137).

Targets related to own workforce

Reference: page 138.

Equinor sets out an effectiveness-tracking approach rather than a set of workforce targets: "We aim to continuously track the effectiveness of our policies as part of many of the specified actions outlined throughout this section. We emphasise continued learning and awareness in conjunction with our core values to prevent actual instances of negative impacts. If such impacts occur, we have measures in place to handle the cases within relevant legal frameworks. Additionally, we track and openly communicate numerous metrics on our own workforce, which may be utilised for future decision making. Certain targets pertaining to our diversity and inclusion metrics can be found in S1-9" (page 138).

The D&I targets cross-referenced are quantified (page 140): the Diversity Index target is "a gender balance of 40%, and nationality balance of 80% Norwegian" across the corporate executive committee and the leaders reporting to it; the Inclusion Index carries "the short-term target of 80 and long term-target of 85", with "The ambition ... to increase by one point per year". Against those, 2025 delivered 36% female in the CEC, 46% in the L2 leadership team, 91% and 83% Norwegian respectively, and an inclusion index of 78, unchanged from 2024.

An apprentice gender target of 33% female is also disclosed and was exceeded at 40% (page 141). No targets are set for work-life balance, harassment incidence or training hours.

Characteristics of the undertaking's employees

Reference: pages 138-139.

"Equinor's workforce comprises over 24 000 employees in 20 countries across five continents. Place of work differs from offshore and onshore facilities and offices" (page 138).

By gender, headcount 2025 (2024): male 16,552 (17,085); female 7,996 (8,070); not disclosed 72 (0); total 24,620 (25,155).

By employment type, 2025: permanent including part time 24,140; temporary 480; non-guaranteed hours 0; permanent full-time 23,545; permanent part-time 595.

By country, permanent employees 2025 (2024): Norway 21,161 (21,426); Brazil 734 (1,034); UK 629 (934); USA 576 (660); other countries 1,040 (1,101). Norway is the only country with at least 10% of total permanent employees. Other countries listed are Algeria, Angola, Argentina, Australia, Belgium, Canada, Denmark, Germany, India, Japan, Libya, Netherlands, Poland, Russian Federation, Singapore, South Korea and Tanzania (page 139).

Turnover: 1,575 employees left in 2025, a rate of 6.4%, against 827 and 3.3% in 2024; the 2024 figures are restated to include the same categories. Data is sourced from SAP HR, and the 2024 country table "includes both permanent employees and temporary employees", limiting comparability (page 139).

Characteristics of non-employee workers

Reference: page 139.

"Number of non-employees for Equinor Group" was 44,848 headcount in 2025, down from 47,220 in 2024 (page 139).

Methodology: "Non-employees in Equinor's workforce primarily comprise of individuals employed by third parties/self-employed individuals who perform work in various capacities for Equinor or our subsidiaries. Number represents contractors and consultants" (page 139).

The scale matters elsewhere in the statement: "About two thirds of our activities are undertaken by contractors, and we are fully committed to strong collaboration with them to safeguard people, the environment, assets and the societies in which we operate" (page 155).

Phase-in. Equinor applies the ESRS 1 transitional reliefs to several S1-7 datapoints, listed in the "Use of phase-in provisions" table (page 174): 55 a) number of self-employed people and number of people provided by undertakings primarily engaged in employment activities; 55 b) description of methodologies and assumptions used to compile the data, including whether numbers are reported in head count or full time equivalent and at end of period, average or another basis; 55 c) contextual information; and 57 basis of preparation of the estimated number. The single group total above is therefore the extent of the quantitative disclosure.

Collective bargaining coverage and social dialogue

Reference: page 139.

"In Norway, our employees have collective bargaining coverage. We encourage all of our employees to engage in social dialogue with Equinor via GPS and ERGs" (page 139).

The table reports, for EEA countries with more than 50 employees representing more than 10% of total employees - which in Equinor's case means Norway only:

• Collective bargaining coverage rate: 60-79%
• Social dialogue, workplace representation: 80-100%

Methodology: "Percentage of the workforce for EEA only" (page 139). No coverage rate is given for employees outside the EEA, which is the majority of the non-Norwegian workforce.

Phase-in. Three S1-8 datapoints are covered by the transitional reliefs listed at page 174: 60 c) percentage of own employees covered by collective bargaining agreements outside the EEA by region; 63 b) existence of any agreement with employees for representation by a European Works Council, SE Works Council or SCE Works Council; and AR 70, non-EEA own workforce covered by collective bargaining and social dialogue agreements by coverage rate and region.

Union engagement itself is described under S1-2, including the equality, equity and diversity agreements held with Styrke, Lederne, NITO, Tekna and YS (pages 134-135).

Diversity metrics

Reference: pages 140-141.

Gender distribution in leadership, 2025 (2024): corporate executive committee 7 male / 4 female, 64% / 36% (unchanged); leaders reporting to the CEC 56 / 47, 54% / 46% (2024: 51% / 49%); business unit 59% / 41%; business sector 63% / 37%; business department 67% / 33%. Female leaders overall were 37%, up from 36% (page 141).

Age distribution of permanent employees, 2025: under 30 years 2,270 (9%); 30-50 years 11,615 (48%); over 50 years 10,193 (42%); not disclosed 62 (page 140).

Nationality balance: 91% Norwegian in the CEC (unchanged) and 83% in the L2 leadership team (2024: 84%) (page 140).

Against targets (page 140). "The target is a gender balance of 40%, and nationality balance of 80% Norwegian. In 2025, the gender balance in the CEC was 36% female, and 46% female in the L2 leadership team. The nationality balance was 91% Norwegian in the CEC and 83% Norwegian in the L2 leadership team." The Inclusion Index "remained at a score of 78, against the short-term target of 80 and long term-target of 85". The CEO "is measured on the Corporate D&I KPI".

Early talent (page 141). "In 2025, we welcomed 162 graduates, representing 37 nationalities, where 49% were female. In Norway, we welcomed 154 apprentices. This year 40% of our apprentices are female, exceeding our gender target of 33% female."

A caveat is repeated across the tables: "US employees and citizens are excluded from this data in line with regulatory compliance" (pages 140-141).

Adequate wages

Reference: page 141. The report titles this disclosure "Living wages".

"We are committed to providing reasonable and competitive compensation and benefits to our employees in all locations. In 2025, our living wage analysis ... additionally included our temporary apprentices and interns for the first time. This methodological update resulted in some individuals in Norway, the UK and Brazil falling below or within 10% of our defined living wage threshold. These cases relate exclusively to temporary apprentices or interns whose pay reflects their roles that include a significant element of training and skills development. Our analysis did not discover any other employees globally below the applicable minimum wage or within 10% of the living wages threshold" (page 141).

Percentage of employees below living wage, 2025 (2024):

• Globally 0.79% (0%)
• Norway 0.68% (0%)
• UK 0.32% (0%)
• Brazil 5.29% (0%)

Methodology: "Our annual analysis is carried out using the Anker Methodology. This shows the number of employees globally below any applicable minimum wage or within 10% of the living wages threshold ... The analysis was carried out on base salaries alone and did not include compensation items such as variable pay, allowances, or other benefits" (page 141). The base-salary-only basis and the change in population both limit comparison with the 0% reported for 2024.

Persons with disabilities

Reference: page 141.

Equinor reports a nil return with a stated reason: "Equinor does not currently collect any data on persons with disabilities. Data collection on employee's experience related to disability is planned for 2026, with a longer-term plan to collect further data points with a new human resources system implementation in 2026 in line with relevant legal restrictions on data collection" (page 141).

The absence of a metric sits alongside substantive action described under S1-4. "In 2025, senior leadership set an ambition and direction to strengthen the inclusion of people with disabilities. A roadmap outlines initiatives that focus on our own employees, as well as how we can engage externally ... Phase one is focused on internal structures and processes. This includes development of guidelines and an accessibility portal for leaders and employees." In Norway, Equinor "collaborated with the Norwegian Handicap Association to map improvement opportunities for accessibility in our office locations", and "In 2026, we will look into data collection opportunities that ensure targeted actions support and remove barriers for employees with disabilities" (page 136).

Disability is one of the six employee resource group topics (page 135) and one of the five International Awareness Days marked globally (page 136).

Training and skills development metrics

Reference: page 142.

Performance and career development reviews, participation 2025 (2024): male 89% (86%); female 96% (96%).

Average training hours per employee, 2025 (2024): male 28.7 (27.2); female 22.6 (21.1).

Formal learning (page 142):

• Average completion of formal learning per employee: 26.7 hours (27.0 in 2024)
• Total formal learning by Equinor employees and non-employees via the course catalogue: 760,000 hours (800,000 in 2024)
• Share of formal learning hours provided to Equinor employees 86.7%, to non-employees 13%

Data "is sourced directly from Equinor's internal corporate university". Equinor flags an estimation limitation on the review participation figures: "Data representing 'Participation in % regular performance and carrier reviews' is estimation due to the change in the HR system. % of participation is based on change in employee number" (page 142).

Phase-in. Both quantitative datapoints - "S1-13 83 a) Percentage of employees that participated in regular performance and career development reviews" and "S1-13 83 b) Average number of training hours per person for employees" - are listed in the "Use of phase-in provisions" table (page 174), so the figures above are given despite the relief being available.

Health and safety metrics

Reference: pages 161-162. "Equinor's health and safety metrics (S1-14 and entity-specific), can be found in EQN-Health and safety-5" (page 142), where the topic is reported as a stand-alone entity-specific section.

Own employees, ESRS S1-14 table (page 162), 2025 (2024):

• Percentage of workforce covered by a health and safety management system: 100% (100%)
• Number of recordable work-related accidents: 89 (79)
• Rate of recordable work-related accidents: 2.0 (1.8) per million hours worked
• Cases of recordable work-related ill health: 233 (235)

Fatalities (page 162). One fatality as a result of work-related injury among non-employees in 2025 (own employees: one in 2024). The statement is explicit about the incident: "On September 17, a tragic work-related accident occurred during a crane and lifting operation at Equinor's refinery Mongstad, resulting in a fatality. The individual who lost his life was employed by a supplier providing crane and lifting services at the site as part of a turnaround at the plant" (page 155).

Group indicators against targets (page 161). Serious incident frequency 0.21 against a target of ≤0.30, "the lowest frequency on record"; total recordable injury frequency 2.3 against a target of ≤2.2, "the 2025 target of 2.2 was not achieved"; serious oil, gas or other flammable liquid leakages 6 against a target of ≤6; Tier 1 process safety incidents 4, down from 10; work-related illness cases 254 (233 own employees), with no corporate target set.

Phase-in. "S1-14 88 e) Number of days lost to work-related injuries and fatalities" is covered by a transitional relief (page 174) and is not reported.

Work-life balance metrics

Reference: page 142.

Family-related leave. "Percentage of employees entitled to take family-related leave" is 100% for men, women and total. Take-up is disclosed by gender across the two years shown, at 27% and 22% of employees overall. "Family-related leave includes maternity leave, paternity leave, parental leave, and carers' leave from work. Family related leave metrics are available in the SAP HR system based on specific leave codes." A footnote records that the disclosure "Covers employees in Norway, which constitutes more than 85% of total employees", so the metric is not global (page 142).

Sickness absence. Reported "in accordance with the requirement in the Norwegian Accounting Act § 2-2,-10" rather than under ESRS: 4.7% of planned work hours in 2025, against 4.8% in 2024, for Equinor ASA permanent and temporary employees (page 142).

Work-life balance and working hours is one of Equinor's four material S1 impacts. The related action is the Line Manager Dashboard, "a reporting tool ... to ensure that working hours remain within the applicable legal frameworks", covering "all employees who are required to track their hours" (page 135), with workload experience monitored annually through the Global People Survey (page 134).

Compensation metrics (pay gap and total compensation)

Reference: page 143. The report titles this disclosure "Remuneration metrics (pay gap and total remuneration)".

Total annual remuneration ratio. "Total annual remuneration ratio for Norway is 1620%", calculated "by taking the highest paid individual divided by the median permanent employee annual total remuneration (excluding the highest-paid individual)" (page 143).

Gender pay gap, 2025 (2024), expressed as women versus men on total compensation:

• Total 18% (21%), covering 100% of employees
• Brazil 28% (26%), 3% of employees
• Norway 13% (13%), 88% of employees
• UK 13% (19%), 3% of employees

Methodology: "Gender pay gap is calculated by taking the average male total remuneration minus the average female total remuneration divided by the average male total remuneration times 100 ... Base and variable salary components were included when calculating the remuneration ratio." Two limitations are stated: "Gender pay gap for 6% of the organisation is based on an estimate", and "Gender pay gap for USA is excluded in line with regulatory compliance" (page 143).

Related action: "We are committed to ensure gender neutrality in pay across our global operations, for similar performance and deliveries", supported by the Workday HR system and continuing work on job architecture (page 137). Equinor also notes that Norwegian authorities require a full breakdown of earnings ratios every other year, and "We report this data annually to strengthen transparency on our gender pay gap" (page 133).

Incidents, complaints and severe human rights impacts

Reference: page 143.

Discrimination and harassment. "Incidents of discrimination, including harassment" totalled 14 in 2025, up from 11 in 2024. "Discrimination and harassment data is gathered in a confidential internal site within Corporate Audit and Investigation Misconduct. Listing of cases is presented quarterly to the Board Audit Committee" (page 143).

Severe human rights metrics, own workforce (page 143). All four are nil returns for both years:

• Workforce-related complaints raised to the National Contact Point for OECD Multinational Enterprises: 0
• Fines, penalties and compensation for damages related to such complaints: NOK 0
• Severe human rights incidents (forced labour, child labour, human trafficking) in own workforce: 0
• Fines, penalties and compensation related to such incidents: NOK 0

Scope: "According to our risk framework, own workforce-related severe human rights incidents is scoped to include instances of forced labour, child labour or human trafficking within Equinor's own workforce. Any possible cases would be logged within the Enterprise Risk Management system" (page 143).

For context on channel volume, the ethics helpline received 310 cases in 2025, of which 110 reports of concern related to "harassment discrimination and other conduct affecting the working environment"; 75% of reports of concern were closed by year end and 16% were substantiated (G1-3, page 167).

Policies related to value chain workers

Reference: page 145. Key contents of each governing document are set out in General disclosures - Sustainability policies (pages 88-91).

The policies Equinor lists against S2 (page 145):

• Code of Conduct (corporate policy)
• Human Rights Policy (corporate policy)
• Sustainability (function requirement)
• Business Development (function requirement)
• Supply Chain Management (function requirement)
• ESG Data for Performance Management and Reporting (work requirement)
• Human Rights Due Diligence (work requirement)
• Human Rights Expectations of Suppliers

The Human Rights Expectations of Suppliers "sets out our expectations towards our suppliers to respect human rights. This includes expectations that our suppliers develop and implement an approach consistent with the goals of the UNGPs, share the spirit and intent of Equinor's own human rights commitment, be transparent about incidents, challenges and efforts, engage their own supply chain and be determined to continuously improve", owned by the chief procurement officer (page 90).

The Work Requirement on Human Rights Due Diligence "outlines specific expectations related to the processes of identifying, assessing, addressing, tracking and communicating human rights risks and impacts. It is modelled after the established steps of human rights due diligence outlined in the UNGPs" (page 90). Four S2-1 datapoints (paragraphs 17, 18 and 19) are mapped to page 145 in the Other EU legislation table (page 295).

Processes for engaging with value chain workers about impacts

Reference: page 145.

"We engage in various forms of ongoing supply chain due diligence throughout a project's lifecycle. This includes engaging directly with supply chain workers where appropriate. Based on the assessed supplier risk, we may use third-party experts to visit sites such as construction yards to conduct stakeholder engagement via on-site interviews with workers in local languages. This provides us first-hand insights and establishes a feedback loop for continued engagement. Insights testimonies are used to inform further risk assessments for ongoing and new projects. Operational responsibility for engagement remains with the business lines" (page 145).

The scale of that engagement is quantified under S2-5 (page 150): in 2025 Equinor conducted 9 human rights assessments of suppliers across 5 countries, interviewing 483 workers, more than double the 212 workers interviewed in 2024.

Where Equinor sets up site-level grievance channels, "workers will typically be informed how to use the channel and its purpose by the operator, and are free to contact the operator via, for example, SMS or phone calls where they can use their native language" (page 145).

The SBM-2 stakeholder table records the outcome of this engagement as "Perspectives and insights from worker testimonies are used to inform risk assessments for ongoing and new projects" (page 94).

Processes to remediate negative impacts and channels for value chain workers

Reference: page 145.

Remedy. "Although we seek to avoid adverse human rights impacts, there are occasions where, despite our best efforts, such impacts do occur ... Our policies make clear that we do not tolerate any form of recrimination or retaliation to those, including human rights defenders, who in good faith raise a concern with us. Remedial actions inherently vary from case to case ... Due to the nature of adverse impacts within our supply chain being primarily 'directly linked-to' Equinor, remedial actions often focus on the use of leverage towards our direct suppliers and/or their sub-suppliers" (page 145).

Supplier grievance mechanisms. "As set out in our Human Rights Expectations of Suppliers, we expect our suppliers to provide appropriate mechanisms for raising complaints, and where necessary, provide remedy. This expectation is supported by specific compliance requirements related to remedy and grievance mechanisms within our standard supplier contracts. Often in response to site visits, we have seen there is a need to raise awareness with workers regarding their rights and the mechanisms available to raise concerns. In certain cases, we may establish a site-level grievance channel managed by a specialist third party" (page 145).

Case handling is described end to end: worker testimony "shall be considered confidential and anonymous unless the worker wishes for their identity to be disclosed to the supplier's management"; workers are informed of actions taken and, "where the action taken by the supplier is considered not to be satisfactory to the workers, further actions could be suggested by the operator" (page 145).

Ethics Helpline. "Any external stakeholder, including workers in the value chain, have access to Equinor's own ethics helpline" (page 145), described in G1-1 (page 165).

Taking action on material impacts on value chain workers

Reference: pages 145-149.

Supplier qualification and assessment. "We expect our suppliers to maintain high standards of safety, security and sustainability throughout their value chain ... This includes qualifications of suppliers' management systems, risk-based audits, and required adherence to relevant ISO standards." Where suppliers are higher risk, "we often engage with third-party human rights experts to conduct on-site supplier assessments ... Emphasis is paid to identifying possible forced labour indicators" (page 145). Equinor discloses a gap: "We do not currently have reporting procedures in place to systematically capture and track the findings and outcomes of these independent supplier-performed assessments" (page 146).

Named 2025 cases (pages 147-149). Follow-up at an offshore wind fabrication yard in Asia and at "an overseas recruitment centre in a country where a large part of the migrant workforce is recruited from"; at a European yard, a supplier "revised contracts to enhance benefits for workers, implemented responsible recruitment requirements towards sub-suppliers, engaged an external firm for ongoing compliance monitoring ... and is making efforts towards the reimbursement of recruitment fees in 2026"; at an Asian oil and gas construction yard, "A follow up on site assessment was conducted which confirmed appropriate remediation including repayment of fees and return of identification documents". Counter-evidence is also given: at a second Asian yard, "certain minor and moderate issues have been closed. The more systemic issues have, however, proved difficult to progress."

Systemic risks. Solar PV and battery supply chains are addressed through traceability requirements, audits and contract clauses, with the residual risk stated plainly: "We recognise that a residual risk remains despite mitigation measures implemented" (page 149).

Collaboration. "In 2025, we continued to work with BP, Ørsted, Shell, TenneT and Petrobras to further develop the Worker Welfare Group" for the marine construction sector (page 148). An external maturity review by Shift raised "competence building beyond training, systemisation of due diligence, and anchoring of roles and responsibilities" as improvement areas (page 146).

Targets related to value chain workers

Reference: pages 149-150.

Equinor states that it has none: "We aim to continuously track the effectiveness of our policies and actions as part of our overarching risk-based human rights due diligence efforts ... We have not yet specified time-bound targets related to the metrics outlined in this section" (page 149).

Two internal monitoring indicators stand in their place, covering "tracking remediation of identified priority forced labour indicators" and "tracking the performance of human rights due diligence within procurement processes". Their status is disclosed candidly: "In the second half of 2025, we undertook a review of the effectiveness of the remediation indicator, resulting in a set of improvements to be tested moving forward. The procurement pilot indicator is temporarily paused as internal systems undergo changes. Establishing relevant, quantitative human rights related targets is often challenging" (page 149).

Metrics, 2025 (2024) (page 150). On-site supplier assessments: 9 (9) assessments, 483 (212) workers interviewed, 5 (5) countries. SSU qualification audits: 292 (291) suppliers audited, 205 (94) with significant social gaps, 39% (83%) qualified following closing of gaps, 61% (17%) yet to complete improvement plans, 0 (0) terminated due to failure to improve. Adverse findings by category: providing fair wages and reasonable working hours 104 (63), preventing modern slavery 43 (20), management system 40 (47), safe and healthy workplace or accommodation 39 (23), fair treatment and non-discrimination 21 (5), access to remedy 19 (21), freedom of association 15 (7), subcontracting 9 (11), child labour 2 (0).

Management engagement is also tracked: 5 Human Rights Steering Committee meetings and 1 human rights case at board or SSEC level, down from 5 in 2024 (page 150).

Policies related to affected communities

Reference: page 151. Key contents of each governing document are set out in General disclosures - Sustainability policies (pages 88-91).

The policies Equinor lists against S3 (page 151):

• Code of Conduct (corporate policy)
• Human Rights Policy (corporate policy)
• Sustainability (function requirement)
• Business Development (function requirement)
• ESG Data for Performance Management and Reporting (work requirement)
• Human Rights Due Diligence (work requirement)
• Community Grievance Mechanisms (work requirement)

The Work Requirement on Community Grievance Mechanisms "sets out the requirements for establishing and running effective operational level CGMs where applicable. It outlines the basic principles, scope, processes, and features necessary ... outlines the procedures for handling complaints lodged in such mechanisms, and establishes effectiveness criteria", owned by the SVP climate and sustainability (page 91).

A further work requirement, on the Rights of Indigenous and Tribal People, "sets out requirements and principles aimed at ensuring respect for the rights of indigenous peoples affected by our operations where applicable, outlining basic principles including self-identification, recognition of the particular rights, safeguarding of indigenous lands, and a commitment to engagement", owned by the VP human rights and social responsibility (page 91).

The Human Rights Policy "includes our expectations towards suppliers and partners and our commitments towards the communities we operate in" (page 89). Two S3-1 datapoints (paragraphs 16 and 17) are mapped to page 151 in the Other EU legislation table (page 295).

Processes for engaging with affected communities about impacts

Reference: pages 151-152.

Engagement is anchored in the impact assessment (IA) process: "Given our various business activities, engagements with potentially affected stakeholders may take place before we have finalised agreements with host authorities. Practising stakeholder engagement in these situations can be challenging, and we often use trusted third parties with knowledge of local conditions and international standards to support us. Disclosure of information and an open dialogue with communities and other stakeholders are key elements in the IA process" (page 152).

"Engagements may include public consultations, surveys, interviews, one-to-one meetings, town halls, industry events, and community panels to better understand concerns. IAs performed for Equinor-operated assets are routinely published and available at Equinor.com. Procedures to document, track and evaluate progress of follow-up actions are commonly established following the conclusion of IAs ... often done through establishment of an environmental and social management and monitoring plan, which is commonly a consenting condition" (page 152).

"Once our projects are in operation, stakeholder engagement typically continues via our asset management teams. Operational responsibility for such engagement remains with the business lines. This may include community liaison officers working in community locations and office-located points of contact assigned to community groups or municipalities" (page 152).

"Where projects interface with potentially affected indigenous and tribal groups, the Work Requirement on the Rights of Indigenous and Tribal Peoples specifies further expectations for engagement" (page 152). SBM-2 records the outcome as "Community voices are incorporated into project planning and execution" (page 94).

Processes to remediate negative impacts and channels for affected communities

Reference: page 152.

Remedy. "Although we seek to avoid adverse human rights impacts, there are occasions where, despite our best efforts, such impacts do occur ... Where relevant, we seek to cooperate with other judicial and non-judicial remedy processes. Our policies make clear that we do not tolerate any form of recrimination or retaliation to those, including human rights defenders, who in good faith raise a concern with us." Equinor draws a distinction from its value chain position: "Due to the nature of community issues often being more directly connected to our own operations, we expect to routinely play a more direct role in seeking to provide for remedy" (page 152).

Community grievance mechanisms. "When applicable, community grievance mechanisms (CGMs) are set up for certain projects to accommodate specific needs. Requirements for CGMs, including effectiveness criteria, are specified in our Work Requirement on Community-Based Grievance Mechanisms." The stated design criteria are that CGMs be (page 152):

• Prompt, consistent and respectful
• Simple, local and culturally appropriate
• Free, well publicised and without retribution
• Designed and operated to the highest applicable standards and laws
• Not impeding access to judicial or administrative remedies
• Accessible and predictable to those who use it

Ethics Helpline. "Any external stakeholder, including local community members, may access Equinor's ethics helpline" (page 152), described in G1-1 (page 165). No count of community grievances received or resolved is disclosed.

Taking action on material impacts on affected communities

Reference: pages 152-153.

Human rights due diligence within business development and enterprise risk management, and the salient issues action plans, are cross-referenced from S2-4 and "applicable to our work related to affected communities" (page 152). Three 2025 actions are specific to S3: a community engagement review, "initiated in 2025 as an opportunity to strengthen the understanding of community engagement work linked to requirements for human rights due diligence"; a conflict affected areas due diligence mapping, "a targeted assessment and mapping across the business to review our due diligence processes related to conflict affected areas", which "led to greater awareness regarding where we intersect with such areas as well as the development of additional guidance"; and the scaled-up implementation of a stakeholder management software to track engagement, grievances and social investments (page 152).

Named 2025 cases (page 153).

• US offshore wind - continued engagement with fishing communities through liaison officers, "initiated compensation programs" and participation in fisheries working groups; for Tribal Nations, "we have provided funding for ethnographical studies and capacity building, conducted engagement workshops, and agreed on mitigation measures for culturally significant submerged landforms during installation and operations".
• Bay du Nord, Canada - Equinor Canada Ltd. is a respondent in a Federal Court of Appeal case brought by Ecojustice on behalf of Sierra Club Canada Foundation and Mi'gmawe'l Tplu'taqnn Incorporated, in which "the NGOs argued that the approvals process failed because proper consultation had not been carried out with certain indigenous groups. A decision of the Court of Appeal is expected imminently."
• Tanzania - the post-compensation livelihood programme "was closed out in 2025. No new grievances were reported in 2025", having "delivered agricultural livelihoods support to 99% of affected households", with a Land Access Titling programme covering 316 displaced households.
• Brazil - pipeline noise and vibration affecting a local community prompted "mapping of vulnerable households, individual meetings with caregivers, provision of noise reduction kits", and the partner operator "agreed to prioritise most impacted households".
• Libya - partner-operated assets where "No actual findings related to our activities have been reported", with human rights prioritised in operator discussions.

Targets related to affected communities

Reference: page 154.

Equinor states that it has none: "We aim to continuously track the effectiveness of our policies and actions as part of our overarching risk-based human rights due diligence efforts as outlined throughout this section. We have not yet specified time-bound targets related to the impacts outlined in this section. In 2025, we continued exploring what types of metrics and targets are best suited for managing our potential human rights impacts. This is outlined in S2-5" (page 154).

For metrics, the disclosure points across to the workers-in-the-value-chain section: "Metrics related to management engagement on human rights topics are found in S2-5, and are considered applicable to this section" (page 154). Those are 5 Human Rights Steering Committee meetings and 1 human rights case reaching the board or its safety, sustainability and ethics committee in 2025, against 5 and 5 in 2024 (page 150).

The corresponding S2-5 statement explains the difficulty: the two internal human rights monitoring indicators cover remediation of priority forced labour indicators and due diligence performance in procurement, and "Establishing relevant, quantitative human rights related targets is often challenging. Nevertheless, we remain committed to working towards action-based indicators related to our most salient human rights issues" (page 149).

No community-specific metrics - grievances received, resolved, or resettlement outcomes - are given as ESRS metrics, though outcomes for individual cases are described qualitatively under S3-4 (page 153).

Business conduct policies and corporate culture

Reference: page 165. The report titles this disclosure "Corporate culture and business conduct policies".

Corporate culture. "Our corporate culture is firmly rooted in our values. Our Code of Conduct reflects these values and sets out our expectations, commitments and requirements for ethical conduct." "The corporate executive committee constitutes Equinor's ethics committee." Regular ethics committee meetings are held in the CEC as well as in business areas and corporate functions, covering "interpretation and refinement of the Code of Conduct, training/decisions on ethical dilemmas, monitoring activities, information about developments in relevant anti-corruption legislation, and significant issues reported by the business areas or internal audit". "Business integrity risks are assessed twice each year as part of our enterprise risk management process" (page 165).

Policies (page 165): Code of Conduct (corporate policy), Human Rights Policy (corporate policy), Supply Chain Management (function requirement), Legal and Compliance (function requirement).

Whistleblower protection. "All employees have a duty to report suspected violations of the Code of Conduct or other illegal or unethical conduct ... Concerns can also be reported through our Ethics Helpline which is open for employees, business partners and the general public", administered using EQS Group's case management application and accessible from the external website. "The Ethics Helpline ensures confidentiality and protects the rights of both the reporter and the potential subject of a report ... the reporter has the option to remain anonymous." The non-retaliation policy "is aligned with EU Directive 2019/1937 (the 'Whistleblower Protection Directive')" and "applies even if the reported issue is not found to be an actual violation" (page 165).

Training. "All personnel are required to complete the Code of Conduct competence requirement e-learning and sign-off annually", with business integrity e-learning assigned as mandatory to certain personnel "based on a continuous mapping process that considers their position and role" (page 165).

Management of relationships with suppliers

Reference: page 166.

"Our supplier management is governed by a structured management system that includes directives, guidelines, and governing documents applicable to all suppliers. Payment processes are designed to ensure that suppliers, regardless of their size, are paid accurately and on time, adhering to Equinor's standard 30-day payment terms" (page 166).

Social and environmental selection criteria. "We integrate social and environmental criteria into supplier selection and contract management processes. These criteria are used as part of the overall risk assessment and are reflected in contractual templates, ensuring that suppliers meet our sustainability expectations. A global category management approach facilitates structured portfolio management, with regular meetings at all contract and management levels to engage with key suppliers and address sustainability-related risks and opportunities" (page 166).

Payment terms procedure. "The purpose of this procedure is to ensure that payments from Equinor to all suppliers are made on the due date, based on our stringent compliance and finance requirements. Through regular monitoring of our payment performance, we secure that our financial guidelines are followed in the supply chain and in the business line" (page 166).

The associated material IRO is "Responsible supplier management", a negative potential impact: "imposing our rigorous quality and compliance requirements may potentially be financially and operationally burdensome for suppliers to meet" and enforcement action "may include termination of contracts. This can potentially cause negative impacts for our suppliers, such as operational disruptions" (pages 164-165). Supplier assurance volumes are reported under S2-5, where 292 suppliers were audited for safety, security and sustainability qualification in 2025 (page 150).

Prevention and detection of corruption and bribery

Reference: pages 166-167.

"Equinor and our personnel worldwide are subject to various anti-corruption and anti-bribery laws, including the Norwegian Penal Code, the U.K. Bribery Act, the U.S. Foreign Corrupt Practices Act and other anti-corruption laws in effect in the countries where we do business. Our Code of Conduct explicitly prohibits engaging in bribery and corruption in any form" (page 166).

Risk assessment. "The business integrity risk assessments conducted in the first and third quarter each year assess the risk of bribery and corruption as well as money laundering, competition, trade controls and employee fraud at different levels of the organisation." Equinor names the exposed units: "Exploration & Production International, Renewables and Projects, Drilling & Procurement were identified as the business areas most at risk of bribery, corruption and money laundering", because of "partner-operated assets and interaction with public officials and third parties". "In 2025 particular focus was given to review governance related to follow up of compliance risk in partner-operated assets" (page 166).

Independence of investigators. "Corporate audit & investigation (CAI) is the Equinor group's third line of defence and independent control body ... The head of CAI has a formal mandate approved by the board of director's audit committee (BAC) and reports administratively to the president and CEO and functionally to the chair of the BAC." The chief ethics and compliance officer "is also able to report matters directly to the CEO, the Board of directors, BAC and the Board of director's safety, sustainability and ethics committee (SSEC)" (pages 166-167).

Training completion, 2025 (2024) (page 167). Code of Conduct, all personnel: 98% (96%) against a 95% target. Anti-Corruption & Anti-Money Laundering Fundamental, mapped personnel: 98% (98%). Advanced: 95% (92%).

Ethics helpline, 2025 (2024) (page 167). 310 (323) total cases; 237 (256) reports of concern; 51 (38) concerning partners and supply chain; 31 (42) on asset and business integrity; 75% (71%) of reports of concern closed by year end and 16% (14%) substantiated.

Targets related to business conduct

Back-filled from the G1 business conduct chapter, where targets are addressed as part of the MDR-T/GDR-T disclosures rather than as a numbered disclosure requirement. G1-3 became a standalone DR only in the 2025/2026 ESRS.

Equinor sets one quantified business conduct target and otherwise tracks effectiveness in place of targets. The G1 Metrics and Targets section states: "We aim to continuously monitor and evaluate the effectiveness of our compliance program as part of our overarching risk-based approach described in this section. Metrics are applied to provide insight into compliance performance and support ongoing improvements" (page 167).

The stated target is Code of Conduct training completion: 95% of all personnel, against which 98% was achieved in 2025 and 96% in 2024. The two business integrity courses carry no target - the anti-corruption and anti-money laundering fundamental course (98% completion, mapped personnel) and the advanced course (95% completion) both show "n/a" in the target column (page 167).

Effectiveness tracking in the absence of further targets (pages 165-167):

• Business integrity risks "are assessed twice each year as part of our enterprise risk management process, where risks and risk mitigating actions are registered in our enterprise risk management system".
• "The annual people survey includes topics that also enable us to evaluate business conduct and corporate culture."
• Ethics helpline outcomes are monitored, with 75% of reports of concern closed by year end and 16% substantiated in 2025.
• "All audits and investigations performed by CAI are reported on a quarterly basis to the Corporate executive committee and BAC", and the SSEC "reviews the results of significant audits and investigations within the areas of safety, security, sustainability and ethics on a regular basis".
• Completion of mandatory training "is recorded internally, monitored by both the compliance function and business areas, and discussed where relevant as part of ethics committees".

No targets are set for corruption incidents, supplier assurance coverage or payment practices.

Incidents of corruption or bribery

Reference: page 168.

Equinor reports a nil return: "In 2025 Equinor received no fines or convictions for violation of anti-corruption and anti-bribery laws and it was not involved in any public legal proceedings related to corruption or bribery."

The scope of the disclosure is defined: "Incidents of corruption or bribery includes fines, and convictions for violation of anti-corruption or anti-bribery laws and ongoing legal proceedings related to corruption or bribery in 2025" (page 168).

The two G1-4 datapoints derived from other EU legislation - paragraphs 24 (a) and 24 (b) - are listed in the section 5.3 Other EU legislation table with the Section column marked "N/A" and no page reference (page 295), consistent with there being no convictions or fines to report.

Context on the detection system that produced this result sits in G1-1 and G1-3: the ethics helpline received 310 cases in 2025, of which 237 were reports of concern; 16% of reports of concern were substantiated; and Corporate audit & investigation performs "investigations of undesirable incidents and ethical misconduct, including corruption and bribery", reporting quarterly to the corporate executive committee and the board audit committee (pages 165-167). A separate enforcement matter, unrelated to corruption, is disclosed under E2-4: charges against Equinor Refining Norway AS for violations of the Pollution Control Act, which Equinor has contested (page 121).

Political influence and lobbying activities

Reference: page 168.

Governance. "Political engagement and lobbying activities are overseen by the executive vice president for communication, through the public and political affairs function. This governance structure ensures that political activities are aligned with Equinor's broader strategy and sustainability agenda and that they uphold the strict standards of transparency and integrity" (page 168).

Contributions. "In 2025, adhering to the company's policy prohibiting direct financial donations to political entities, we made no such contributions to political parties, their elected representatives, or individuals seeking political office. There are instances where we extend support to political processes indirectly by contributing to intermediary entities, such as industry associations and trade groups, which may engage in political activities" (page 168). No monetary amount is given for those indirect contributions.

Main topics and positions (page 168). Three areas are set out with their alignment to material IROs: energy transition policies, "advocating for stable regulatory environments that support emissions reduction efforts, low-carbon technologies and development of offshore wind", aligned to the E1 IROs; energy security and critical infrastructure protection, aligned to the EQN Security IROs; and projects implementation, "promoting the availability of new acreage and projects".

Transparency register. "Equinor is registered in the EU Transparency Register under registration number 4447605981-76. This registration has been in place since 19 January 2009."

Revolving door. "In 2025, Equinor has not appointed in its administrative, management and supervisory bodies, the Corporate executive committee and Board of directors, any members who held a comparable position in public administration (including regulators) in the two years preceding such appointment" (page 168).