Hiab Oyj

Reference: pages 36-37, page 70 (diversity metrics).

The Board of Directors has eight non-executive members. Seven (88%) are independent of the company and of significant shareholders. Three members (38%) are women and five (63%) are men, a ratio of 0.6. Two members have business conduct expertise from legal, compliance and auditing roles, and three were chosen partly for sustainability-related experience (page 36).

The Board Charter makes the Board responsible for building sustainability into strategy and risk management, and it names one member to oversee sustainability matters. The Audit and Risk Management Committee (three Board members, five meetings in 2025) supervises sustainability reporting, risk management and internal audit (pages 36-37).

The Hiab Leadership Team (HLT) and CEO carry out the Board's plans. The EVP Business Excellence oversees target setting, and the CEO is responsible for assessing and managing climate-related risks and opportunities (page 37). Employees are not represented on the Board or the HLT (page 36). The HLT has six women and six men (page 70).

Reference: pages 36-37.

The Board reviewed material sustainability matters as a separate agenda item four times in 2025. Meetings follow an annual cycle with a theme (environment, social, governance or reporting) and cover action plans, targets, due diligence, and policy and action results. The 2025 reviews covered environmental performance, science-based climate targets, social sustainability including non-discrimination, and sustainability regulation (page 36).

The Audit and Risk Management Committee examined sustainability matters four times, mainly annual reporting status and the review of the double materiality assessment. It reviews sustainability risk evaluations every quarter and receives quarterly updates on anti-corruption activity and Code of Conduct matters (page 37).

The Board and the HLT receive monthly updates that include sustainability KPIs, such as the industrial injury frequency rate (IIFR) and eco portfolio order intake. Both bodies can call on the EVP Business Excellence, the EVP General Counsel and other experts for skills on material IROs (pages 36-37).

Reference: page 37.

Hiab's Remuneration Policy guides the use of non-financial measures, which can be environmental, social or governance measures, in short-term and long-term incentive schemes. Board members have no incentive schemes. A mandatory safety target is set for most employees in the short-term scheme (page 37).

In 2025 one long-term share-based program for the HLT and other senior leaders, the Performance Share Programme 2023-2025, included a climate criterion: eco portfolio order intake as a share of total order intake, measured for its last period (financial year 2025). That criterion can earn up to one-third of the program's total maximum reward. Eco portfolio products rely on life cycle assessments verified by a third party (page 37).

Reference: pages 37-38. The index lists the paragraph 30 datapoint against this disclosure (page 46).

Hiab states that it conducts due diligence to identify, address and track its impacts on people and the environment. In 2025 continuing operations started a due diligence project to identify salient human rights and environmental issues across the value chain and to build a process and action plan for the findings, including remedy. Hiab plans to use the results in its 2026 update of the double materiality assessment (pages 37-38).

A table on page 38 maps five core elements of due diligence to sections of the statement: embedding due diligence in governance, strategy and business model; engaging affected stakeholders; identifying and assessing adverse impacts; taking action; and tracking effectiveness and communication. Hiab also describes work on just transition during 2025 (page 38).

Reference: page 38.

The Sustainability function compiles the statement and collects data through several information systems. Experts from functions such as Human Resources, Health and Safety, and Ethics and Compliance review the content. In 2025 the function reviewed its KPI reporting processes and concluded that they work and have sufficient internal controls, for example built-in system controls, segregation of duties, access controls, reviews and approvals. The Internal Controls function evaluated the processes in 2024 and found no major issues.

Two risks were prioritized: data accuracy (human error in data entry, missing invoices) and dependence of parts of the reporting process on one person. Responses include system controls, estimates for sites with missing invoices, and named replacements for key roles. A CSRD Steering Group (CFO, EVP Business Excellence, VP Sustainability) supervises reporting, and the Audit and Risk Management Committee receives quarterly updates.

Reference: pages 35, 38-40. The index marks the paragraph 40(d) i-iv datapoints "not material" (page 46).

Hiab provides on-road load handling solutions for customers in construction, waste and recycling, wind power, and retail and final mile delivery. Continuing operations (Hiab without MacGregor) had sales of EUR 1,556 million in 2025 (EUR 1,647 million in 2024), 4,053 employees, and operations in 21 countries with 13 production sites and 70 non-production sites. EMEA was 50% of sales and the Americas 43% (page 39). MacGregor was sold on 31 July 2025 and is reported as discontinued operations (page 35). Cargotec became Hiab Corporation, with the name change registered on 31 March 2025 (page 38).

The 2024-2028 strategy includes science-based emission targets, a goal of 50% eco portfolio sales (37% in 2025, EUR 572 million) and EUR 700 million of service sales by 2028 (EUR 469 million in 2025). The business is asset-light and assembly-focused and depends on thousands of suppliers (page 39). Page 40 maps inputs, upstream, own operations, downstream and outputs.

Reference: page 40.

Hiab names four key stakeholder groups: employees, customers and their employees, investors, and suppliers and their employees. It identifies them by their potential influence on Hiab and Hiab's potential impact on them. Other groups it recognizes are partners and dealers, authorities, research and education institutions, industry associations, local communities, non-governmental organizations and the media.

The 2023 double materiality assessment confirmed this view with two specifications: customer employees (end-users as value chain workers) and supplier employees (value chain workers). Local communities were not identified as a key stakeholder group. The HLT and Board approved the assessment results, including stakeholder views, and are informed of affected stakeholders' interests as needed. A table lists how Hiab engages each key group (for example engagement surveys, customer feedback, investor communication, supplier self-assessments and audits) and how each group connects to strategy and business model.

Reference: pages 41-43; topic sections on pages 48, 55, 64, 72 and 76.

The material topics are ESRS E1 Climate change, E5 Resource use and circular economy, S1 Own workforce, S2 Workers in the value chain and G1 Business conduct. They come from the 2023 double materiality assessment, reviewed in 2024 and 2025 (page 41). The statement lists each topic's impacts, risks and opportunities with their place in the value chain. For climate, only transition risks are material (pages 41, 48). Each topical chapter has an "Interaction with strategy and business model" section.

The 2025 review changed the list. E4 Biodiversity and ecosystems was removed after rescoring pushed it below the materiality threshold. Forced labour and adequate wages were added under S2 because supplier audit findings changed their likelihood from potential to actual. S4 Consumers and end-users was removed because end-user health and safety is covered under S2 (page 43). Affected communities, pollution, and water and marine resources were assessed as not material (page 43).

Reference: pages 44-45.

Hiab (then Cargotec) ran its double materiality assessment (DMA) in 2023. It says the DMA stayed valid for 2025 reporting, with IRO changes made in the annual review, and plans a revision during 2026. The 2023 DMA was run for each business area and consolidated at group level, supported by an external expert organization, and approved by the leadership team and the Board. It covered the whole value chain over short, medium and long-term horizons (page 44).

For impacts, Hiab used earlier risk and impact assessments and interviews with 21 internal representatives and one external representative (a financial institution), and scored severity (scale, scope, irremediability) and likelihood. For financial materiality it held interviews and workshops with Finance, Strategy and Risk Management and scored magnitude and likelihood using the enterprise risk management (ERM) method. The financial threshold was set lower than the impact threshold because risks and opportunities scored lower overall (page 45). In 2025 Hiab widened its ERM process to cover social and regulatory aspects (page 45).

Reference: pages 46-47.

The company's ESRS content index is the "Table of disclosure requirements and data points derived from other EU legislation". For each requirement it shows the datapoints derived from other EU legislation and the location in the statement. It covers BP-1 and BP-2, GOV-1 to GOV-5, SBM-1 to SBM-3, IRO-1, IRO-2, E1-1 to E1-9, E2-1 to E2-4, E3-1 to E3-4, E4 (IRO-1 and E4-1 to E4-6), E5-1 to E5-5, S1-1 to S1-17, S2-1 to S2-5, S3-1 to S3-5, S4-1 to S4-5 and G1-1 to G1-6.

Marked "Not material": E1-7, E1-8, E2-1 to E2-4, E3-1 to E3-4, all E4 rows, S1-8, S1-10 to S1-12, S1-15, all S3 and S4 rows, and G1-5. E1-9 is marked "Phase-in requirement, not included". E2-5, E2-6, E3-5 and E5-6 do not appear in the table. The report does not print a separate list of omitted requirements.

Reference: pages 48-51.

Hiab created a climate mitigation transition plan (CMTP) for continuing operations in 2025; it does not cover discontinued operations. The HLT approved it (page 48). Science-based targets, submitted to SBTi for validation in 2025 and described as compatible with a 1.5°C pathway, use a 2022 base year: scopes 1 and 2 down 50% by 2030 and 90% by 2040, scope 3 down 25% by 2030 and 90% by 2050. Hiab aims for net zero in own operations by 2040 and across the value chain by 2050 and will choose methods for the remaining emissions later (page 48).

Levers are rated by relative financial effect (page 49). Rated highest: low-emission steel and recycled materials, 100% fossil-free electricity by 2030, zero-emission vehicles, use-phase energy sources and low-carbon fuels. Hiab says the ratings are not funding plans, and that CapEx and OpEx plans do not exist yet because the CMTP was approved in late 2025. Page 51 lists assumptions and locked-in emissions (assets, diesel equipment and fleet, steel) and states that Hiab is not excluded from the EU Paris benchmarks.

Identification of climate-related risks and scenario analysis

Back-filled from ESRS 2 IRO-1 (page 44), the E1 chapter (pages 41, 48) and the physical risk table (page 45). This disclosure requirement did not exist under the 2023 ESRS the report was prepared against.

Hiab (then Cargotec) ran a climate scenario analysis in 2021. Hiab considers the results largely valid, used them in the 2023 DMA and the 2025 transition plan, and has started an update (page 44). Two scenarios were used: a favorable 1.5°C scenario following RCP 2.6 (SSP1-2.6) and the IEA Sustainable Development Scenario, and an unfavorable 4°C scenario following RCP 8.5. Time horizons are under 1 year, 1-3 years and 3-30 years (to 2050), which do not match the ESRS horizons because the analysis predates the ESRS. It covers policy, legal, technological and societal aspects (page 44).

Transition risks are the only climate risks treated as material (pages 41, 48). Physical risks (heat waves, extreme weather, heat stress, rising sea levels) were identified, all long term and not currently material (pages 44-45). The report does not describe how assets and activities were screened for exposure and sensitivity, does not state the scope of operations covered, and gives no temperature projections beyond the 1.5°C and 4°C scenario labels.

Resilience in relation to climate change

Back-filled from ESRS 2 IRO-1 and SBM-3 (pages 44-46) and the E1 chapter (pages 48, 52-53). This disclosure requirement did not exist under the 2023 ESRS the report was prepared against.

Hiab says the development paths shared by both scenarios (digitalization, electrification, renewable energy) are already part of its strategy, which it says supports confidence in the strategy's resilience whichever warming pathway occurs (page 44). The analysis also points to uncertainty: low-emission products rely on new technology and continuing innovation, and demand varies by region, for example with charging networks and fossil-free electricity (page 44). Market-share risk arises if competitors move faster (page 48).

On physical risk, Hiab names business continuity plans as its mitigation for supply chain disruption (page 45), and says asset-level risk assessments in its management systems consider short-term climate effects at each site (page 46). One adaptation example is battery storage at the Zaragoza site, which lets production continue if the grid fails in extreme weather (page 52). Hiab ties its planned product actions to market conditions and customer willingness to buy low-emission products (page 53). The report does not call this an ESRS resilience analysis.

Reference: page 51.

Three documents carry Hiab's climate policy commitments. The Code of Conduct commits Hiab to act on climate change mitigation and to cut greenhouse gas emissions to limit warming to 1.5°C; the Legal and Compliance function holds ultimate responsibility for it. The Sustainability Policy sets objectives for reducing environmental harm and improving energy efficiency across the value chain, says Hiab will seek ways to adapt to climate challenges, promotes renewable energy and supports partners in setting emission targets.

The Business Partner Code of Conduct expects partners to monitor, report, set targets for and cut emissions, and to measure the carbon footprint of their products and services. Hiab updated it in 2025 to tighten the carbon footprint data requirements, and it forms part of supplier contracts and general purchase conditions. Hiab monitors implementation by tracking progress toward its climate targets.

Reference: pages 51-53.

Actions are grouped by value chain stage and all take effect in the long term. Hiab says no CapEx or OpEx plans for the transition plan exist yet (page 49).

Upstream: a partnership with steel maker SSAB toward fossil-free steel; recycled steel was 26% of purchased steel (21% in 2024); a Design for Sustainability step was added to product development in 2025 (page 52).

Own operations: fleets in Norway, Finland and Sweden moved from hybrid to fully electric (about 12 tCO2e a year); Italy replaced 38% of its fleet (about 39 tCO2e a year); the Zaragoza site did LED, pump and dock insulation work (about 93 MWh a year saved) and added battery storage; 180 solar panels at Raisio cover about 22% of site electricity; EUR 19 million was announced for the Raisio MULTILIFT facility (page 52).

Downstream: new eco portfolio launches, including hydraulic upgrades cutting use-phase emissions 35%, MULTILIFT Ultima ZERO with 40% low-emission steel (life cycle emissions 25% lower) and Engine Control (26% lower) (page 52). Eco portfolio sales were 37% of total sales (29% in 2024) (page 51).

Reference: pages 39, 48, 53.

Hiab's science-based targets, submitted to SBTi in 2025, use a 2022 base year. Scopes 1 and 2 (market-based): down 50% by 2030 and 90% by 2040. Scope 3: down 25% by 2030 and 90% by 2050 (page 48). The scope 3 boundary covers 100% of scope 3 emissions and includes biogenic emissions and removals from bioenergy feedstocks. Hiab used SBTi Near-Term Criteria v5.3 and Net-Zero Standard Criteria v1.3, and no external stakeholders took part in setting the targets (page 53).

Other climate targets: 90% fossil-free electricity by 2028 (73% at the end of 2025) (page 53) and eco portfolio sales at 50% of total sales over 2024-2028 (page 39).

Progress in 2025: scope 1 and 2 emissions rose 22% against 2024, with scope 1 up 30% (more service fleet activity and paint shops added at three production sites) and scope 2 market-based down 11%. Scope 3 fell 16% against 2024 and 35% against 2022, mainly from lower sales and manufacturing. Hiab says its emissions still rise and fall with economic activity (page 53).

Reference: page 53.

Continuing operations used 84,846 MWh in 2025 (70,223 MWh in 2024). Fossil sources were 61,774 MWh (49,705), including 29,678 MWh of petroleum products and 23,429 MWh of natural gas. Renewable sources were 23,072 MWh (18,430), or 27% of the total (26%): acquired renewable electricity 18,002, acquired renewable heat 4,124, self-generated solar 862 and biofuels 84 MWh. Nuclear sources were 2,087 MWh in 2024 and none in 2025. Fossil-free electricity (renewable and nuclear) was 73% of electricity use (69%).

Energy intensity was 54.5 MWh per EUR million of net revenue (42.6), calculated for the manufacturing sector as a high climate-impact sector. Discontinued operations (MacGregor, 1 January-31 July 2025) used 4,457 MWh and are shown as if no renewable or nuclear sources were used, because certificates were unavailable (pages 35, 53). Fourth-quarter 2025 figures are estimates based on fourth-quarter 2024 data, and estimates were added for US non-production sites (page 53).

Reference: pages 54-55.

Continuing operations, tCO2e, 2025 (2024): scope 1 12,600 (9,700); scope 2 location-based 5,800 (5,400); scope 2 market-based 2,500 (2,800); scopes 1 and 2 market-based 15,100 (12,400); scope 3 882,800 (1,054,300); total market-based 897,900 (1,066,800); total location-based 901,200 (1,069,400). Intensity was 577 tCO2e per EUR million of revenue market-based (648) and 579 location-based (649). Biogenic emissions, all from scope 1 biodiesel, were 20 tCO2e (page 54).

Use of sold products (503,200 tCO2e) and purchased goods and services (318,300 tCO2e) are the largest scope 3 categories. Hiab puts them at 93% of scope 3 and 92% of total emissions (pages 54-55). Primary data was 4.8% of scope 3 emissions in 2025 (page 55). Scope 1 and 2 figures for 2022-2024 and scope 3 figures for 2023-2024 were restated (page 54). Discontinued operations (1 January-31 July 2025) had total market-based emissions of 295,572 tCO2e (page 54).

Reference: page 56.

Hiab's Sustainability Policy covers the move to a circular economy: resource efficiency, rethinking material flows and preferring better materials, plus a commitment to reduce waste and pollution in the value chain and to promote resource efficiency in the supply chain. The policy does not mention moving away from virgin materials or using renewable materials. Hiab commits to more recycled steel in assembly and says renewable materials are not currently relevant.

The Code of Conduct commits Hiab to reduce environmental harm and improve the environmental performance of its offering, operations and raw material sourcing. The Business Partner Code of Conduct requires suppliers to control and treat solid waste and to cut waste and natural resource use. Hiab tracks this through supplier self-assessments and, from 2025, on-site environmental audits of high-risk suppliers (four in 2025).

Reference: page 56.

In 2025 Hiab continued its circularity work: it built an action plan, benchmarked, ran current-state and gap analyses, and began defining a vision, mission statement, ambition level and roadmap. It mainly assigns human resources to this work and has allocated no separate financial resources.

Actions: recycled steel was 26% of purchased steel (21% in 2024). Four on-site supplier audits with environmental scope found non-compliance in all four, and 62% of findings concerned resource use and waste management. At the Eksjö site, excess cast iron is briquetted and reused (more than 22 tonnes in 2025), which brings internally recycled cast iron to 30% of iron used. Eksjö also received about 48 tonnes of scrap metal from the Bispgården site (23% of purchased scrap) and aims for at least half from internal sources. The Exchange Parts Programme gives customers a discount for returned used components, and Hiab began extending it beyond cylinders.

Reference: pages 56-57.

Hiab links its circular economy targets to its service business and to recycled steel. Service sales target: EUR 700 million by 2028 (EUR 469 million in 2025). Maintenance contract target: 50,000 contracts by 2028 (over 25,000 in 2025). Hiab says it plans to clarify its approach to circular business models during 2026 (pages 56-57).

Hiab also monitors and aims to raise the share of recycled steel in manufacturing as part of its climate transition plan; the share was 26% in 2025 against 21% in 2024 (page 57). The report states no numeric target for recycled steel share or for waste.

Reference: page 57.

Steel is Hiab's most important raw material. Other significant inflows are aluminum, hydraulics and electric components, many tied to critical minerals such as cobalt, tin and gold. Biological raw materials are not relevant.

Continuing operations bought 62,677 tonnes of steel in 2025 (64,947 in 2024), of which 16,544 tonnes (26%) was recycled (13,438 tonnes, 21% in 2024). For continuing operations the total covers steel only. Where sites lack primary purchase data, Hiab estimates steel from products made and third-party-verified life cycle assessments, assuming 30% of sourced steel becomes scrap at tier 1 suppliers. 2024 figures were restated for the new method. Discontinued operations (MacGregor, 1 January-31 July 2025) bought 26,940 tonnes of steel, 9% recycled.

Reference: page 57.

Hiab's key outputs are lifting equipment: hooklifts, tail lifts, forklifts and loader cranes. It designs them to stay in use for years or decades through durable materials and repairs. A typical machine is about 80% steel, and the global recycling rate of available steel is about 90%.

Hiab offers inspections, repairs, upgrades, take-back programs, rental and second-hand sales to extend equipment life. It uses average product life assumptions in its life cycle assessments: 5-7 years for forestry and recycling cranes and 10-15 years for other equipment. Hiab says it lacks a view of the industry average for durability and of the recyclable content of its products and packaging, and is reviewing repairability standards. Wood pallets are one of the main packaging materials.

Reference: pages 57-58.

Waste data come from contractor records, and fourth-quarter 2025 figures are estimates based on fourth-quarter 2024 (page 57). Continuing operations generated 6,249 tonnes in 2025 (6,841 in 2024): 560 tonnes hazardous (641) and 5,689 tonnes non-hazardous (6,200). Of the hazardous waste, 174 tonnes was recycled and 386 tonnes went to disposal. Of the non-hazardous waste, 3,952 tonnes was recycled and 1,738 tonnes went to disposal, including 784 tonnes landfilled and 656 incinerated (page 58).

Non-recycled waste was 2,123 tonnes, or 34% of the total (35% in 2024). Coverage grew in 2025 to include 32 non-production sites, and 2024 figures were restated (page 58). Waste streams include hazardous liquids and solids, aluminum, bio waste, cardboard, construction waste, electronic waste, glass, paper, plastics, rubber, wood, scrap metal and mixed waste (page 57). Discontinued operations reported 19 tonnes (production sites only).

Reference: page 65.

Several documents cover Hiab's own workforce. The Code of Conduct "People and society" section addresses human trafficking, child and forced labor, health and safety, diversity and anti-discrimination, and rules out discrimination on grounds such as gender, sexual orientation, race, religion, nationality, age and physical ability. The Hiab Health and Safety Code, the Take 5 procedure, the HSE Handbook and the Services Safe System of Work set safety requirements. The Employment Policy covers anti-harassment, non-discrimination and equal opportunity, and other HR policies cover recruitment, learning, performance and remuneration.

The Sustainability Policy commits Hiab to the UN Global Compact, OECD Guidelines, UN Guiding Principles, International Bill of Human Rights and ILO Declaration. Hiab has no policy commitment on inclusion of vulnerable groups, because it has not identified such groups. All employees fall within these policies, and Hiab monitors implementation through surveys and personal development processes.

Reference: pages 67-68.

Hiab assigns mainly human resources to own workforce actions and has allocated no separate financial resources (page 67).

Health and safety: ISO 45001 certification covered 76% of production site headcount; more than 27,000 safety concerns and 4,000 inspections were logged in the reporting tool; the global safety risk assessment process was renewed; the Line Management Safety Self-Assessment program expanded, with a new global procedure and training on safety responsibilities (pages 67-68).

Equal treatment: leadership development continued, interview training on inclusion and unconscious bias launched, and a company-wide mentorship program began. Hiab ran no separate non-discrimination initiative in 2025. Five substantiated harassment and discrimination cases led to remedy that ranged from discussions to termination of employment (page 68). Training: 18 virtual sessions, a mandatory sustainability course, and training for 97 employees on high-voltage batteries, with 12 technicians certified for high-voltage vehicles (page 68).

Reference: pages 68, 70.

Health and safety targets apply to all employees and to external contractors in the personnel register. The 2025 IIFR target was below 2.8, and the result was 1.7 (2.8 in 2024). Mid-term targets for 2028 are an IIFR below 2.0 and a total recordable injury frequency rate (TRIF) below 6.0. The IIFR target has no baseline, since Hiab tracks yearly improvement; progress is monitored monthly and reported in quarterly interim reports. Health and safety committees were consulted when setting the targets (page 70).

For training, the mandatory sustainability course had a 90% completion target for 2025, and 86% was reached (page 68). Hiab has not set targets for equal treatment and opportunities and plans measurable targets in the next People Strategy review (page 68).

Reference: page 69. The index covers S1-6 and S1-7 together as "Characteristics of employees and non-employee workers" (page 47).

Continuing operations had 4,053 employees at the end of 2025 (4,137 in 2024): 878 women and 3,175 men. Permanent employees numbered 3,873 (3,941), temporary 180 (196) and non-guaranteed hours 550 (583). There were 3,916 full-time and 137 part-time employees. By region, EMEA had 2,999, the Americas 906 and Asia Pacific 148. Countries with at least 10% of the workforce were the United States (782), Poland (515), Finland (458) and Sweden (433) (pages 69-70). Employee turnover was 15%, with 588 permanent employees leaving, the same rate as in 2024 (page 69).

Reference: page 69. The index covers S1-6 and S1-7 together (page 47).

Hiab's external workforce was 185 people at the end of 2025 (121 in 2024): 47 women and 138 men. It consists of temporary employees, consultants and agency temporary workers, typically on temporary full-time contracts. It excludes subcontractors where Hiab buys defined deliverables or a service managed solely by the supplier. Total workforce was 4,238 (4,258). The statement gives the external workforce as a headcount with a gender split and no other breakdown.

Reference: page 70.

Hiab Leadership Team (top management) at the end of 2025: 6 women (50%) and 6 men (50%), against 2 women (25%) and 6 men (75%) in the 2024 Cargotec team. By age, 5 members were 30-50 (42%) and 7 were over 50 (58%). Employees: 878 women (22%) and 3,175 men (78%). By age, 518 were under 30 (13%), 2,122 were 30-50 (52%) and 1,413 were over 50 (35%). Board gender data sit under GOV-1 (page 36).

Reference: page 70.

In 2025, 99% of employees in continuing operations received regular performance and career development reviews (93% in 2024): 98% of women and 99% of men. The average was 11.2 training hours per employee (7.2): 10.7 for women and 11.4 for men. Employees without access to the HR information system, mainly workers at production and service sites, follow a local performance and development process.

Hiab counts only courses on its learning platform, using the estimated completion time of each course, and says it cannot see training done elsewhere. The figure includes only employees who completed training during the year. Training actions are on page 68.

Reference: pages 70-71.

For continuing operations in 2025 (2024): the IIFR was 1.7 (2.8); the TRIF was 4.7 (7.6); there were 37 recordable work-related accidents (57) and no fatalities; recordable ill-health cases numbered 5 (10); and 184 days were lost to injuries and ill health (652). All own workers were covered by a health and safety management system based on legal requirements or recognized standards (71% in 2024, when only ISO 45001 coverage was counted). Production sites had an IIFR of 2.7 and non-production sites 0.5 (page 70).

There were 13 lost-time injuries, 7 to the hands (page 71). From 2025 Hiab uses theoretical working hours for certain safety KPIs such as the IIFR, assuming an 8% deduction for leave and holidays (pages 68-69). Safety figures include certain external contractors and discontinued operations for 1 January-31 July 2025 (IIFR 2.4, TRIF 4.3) (pages 70-71). The most common root cause of recordable ill health was fatigue of the back or shoulders from manual handling (page 71).

Reference: page 71.

The gender pay gap, based on average gross hourly pay, was 8.0% in 2025 (8.3% in 2024). The ratio of the CEO's annual base salary to the median annual base salary of all other employees was 14.48 (16.76). Hiab calculates the ratio from base salary rather than total remuneration because of current data availability, and says the gender pay gap gives a high-level overview. It is building the ability to report to the level the relevant EU directive requires and expects much stronger reporting capability from 2026.

Reference: pages 71-72.

Hiab reported no severe human rights incidents connected to its own workforce in 2025. Discrimination incidents, including harassment, are collected through the central SpeakUp channel, and reports to local HR are also passed to SpeakUp. Continuing operations had 7 reported discrimination complaints in 2025 (5 in 2024), of which 5 were partly or fully substantiated (4). Discontinued operations (1 January-31 July 2025) reported none; the table covers SpeakUp reports only. Hiab paid no fines, penalties or compensation for discrimination incidents or complaints in 2025 (page 72).

Reference: page 73.

The Business Partner Code of Conduct (BPCoC) covers partners across the value chain, with a focus on the supply chain. It sets requirements on human rights, including health and safety and minimum wages, bans all forms of modern slavery including forced and child labor and human trafficking, and expects fair treatment of employees and a channel to raise concerns. It rests on the UN Universal Declaration of Human Rights, the ILO Declaration and the UN Convention against Corruption. In 2025 Hiab added requirements on ethical recruitment, land rights and the use of security forces.

The Sustainability Policy commits Hiab to respect human rights across the value chain and to engage with affected people on remedy. On-site audits in 2025 documented 91 incidents of non-respect of international principles (22 in discontinued operations), mostly outside Europe. Hiab has no specific policy on pandemics.

Reference: pages 74-75.

Hiab assigns mainly human resources to value chain worker actions and has allocated no separate financial resources (page 74).

Supply chain: Hiab commissioned 13 third-party on-site supplier audits in 2025 on human rights, health and safety, forced labor and adequate wages (4 by discontinued operations). Non-compliance was found in 12. About 75% of findings for continuing operations concerned health and safety, labor conditions or wages, and suppliers received corrective action plans, whose closure Hiab validates (page 74).

Equipment operators: new safety features included a tail lift platform unfolding on one side, a better anti-slip coating, buttons that stop drivers climbing onto truck-mounted forklifts, an Engine Control feature that cuts noise exposure and a crane load display (page 75). For pandemics Hiab took no action in 2025 because it rates the risk low (page 75).

Reference: pages 75, 79.

Upstream, the target is to improve supplier scores in sustainability self-assessments, which cover human rights, health and safety and working conditions. The 2025 external target was met: at least 90% of key suppliers completing the assessment with a combined average score of 61% or above. The 2026 target is 90% and 62% (page 79). Hiab did not include supply chain workers in setting the target (page 79). Hiab also has a target to validate closure of all supplier non-compliance cases (page 74).

Downstream, Hiab says it lacks enough visibility into customer employee safety to set a target and uses customer feedback instead (page 75). No severe human rights issues connected to its upstream or downstream value chain were reported in 2025 (page 75).

Reference: page 76.

The Code of Conduct is Hiab's main instrument for ethical corporate culture. It has a section on anti-corruption and anti-bribery that follows the UN Convention against Corruption, and expects leaders to make sure their teams are trained for ethical dilemmas. The EVP General Counsel is the most senior role responsible; the Ethics and Compliance team leads training and communication.

The SpeakUp and Non-Retaliation Instruction, updated in 2025, covers reporting of suspected non-compliance, anonymous reporting, investigations by people unconnected to the case and protection against retaliation, including for people who refuse to act unethically. The Anti-Corruption Policy, Business Partner Code of Conduct, Export Controls Policy, Trade Sanctions Policy and instructions on third-party sales, gifts and hospitality and conflicts of interest support it. The CEO, HLT or Board approves them, and Hiab updated its Gifts and Hospitality instruction in 2025.

Targets related to business conduct

Back-filled from the business conduct chapter (pages 77-79). G1-3 became a standalone disclosure requirement only in the 2025/2026 ESRS; the report was prepared under the 2023 ESRS, where business conduct targets fall under MDR-T.

Hiab states one external business conduct target: for responsible sourcing, at least 90% of key suppliers complete the sustainability self-assessment with a combined average score of 61% or above in 2025. Hiab reports that it met the target, and the 2026 target is 90% and 62% (page 79). Internal targets for the Sustainability and Sourcing functions are tied to their incentives and tracked by the Responsible Sourcing steering committee (page 79). Hiab also set a strategic objective in 2022 to keep improving its payment-on-time ratio (page 79).

The chapter states no numeric target for corruption prevention. It tracks effectiveness through Code of Conduct training completion (97%), coverage of functions at risk (99%), and reported cases and investigations (pages 77-78).

Reference: page 78.

Hiab reports that it received no convictions or fines for violating anti-corruption and anti-bribery laws in 2025, and that there were no breaches of anti-corruption or anti-bribery procedures and standards that it needed to address. A table covers reports filed through its channels: continuing operations had 40 reports in 2025 (38 in 2024) and 9 investigations initiated by Ethics and Compliance (7). The table splits cases by type, including conflicts of interest, workplace environment, export controls or sanctions, and unethical business conduct. HR also runs investigations. Discontinued operations are shown separately for 1 January-31 July 2025.

Reference: page 79.

Hiab has no single set of payment terms. Terms with suppliers range from 0 to 150 days, so it says it cannot describe a standard term. The target payment term for direct procurement is 90 days, the default in standard purchasing agreements; for indirect procurement it is 60 days net for continuing operations (45 for discontinued operations). Hiab negotiates terms with each supplier.

Continuing operations took an average of 52 days to pay an invoice in 2025 (54 in 2024), and 83% of payments were on time (76%). Legal proceedings outstanding for late payments are shown as nil. Hiab says it has no specific policy to prevent late payments, including to small and medium-sized suppliers, but aims to keep improving the on-time ratio, a strategic objective since 2022. It treats the standard KPIs as not material because it has no standard terms.