Virdien

The Board of Directors determines the orientations of the Company and the Group's activities and ensures their implementation in accordance with its corporate interest, taking into consideration the social and environmental aspects of its activity.

Board Structure:

• 9 DIRECTORS
• 87.5% are independent (excluding Director representing the employees)
• 50% are women (excluding Director representing the employees)
• 8 MEETINGS with 100% attendance rate

Board Composition:

• Sophie ZURQUIYAH - CEO and Director (End of term: GM 2026)
• Philippe SALLE - Chairman of the Board (End of term: GM 2025)
• Michael DALY - Director (End of term: GM 2025)
• Patrick CHOUPIN - Director representing the employees (End of term: GM 2025)
• Anne-France LACLIDE-DROUIN - Director (End of term: GM 2025)
• Amélie OYARZABAL - Director (End of term: GM 2028)
• Colette LEWINER - Director (End of term: GM 2027)
• Mario RUSCEV - Director (End of term: GM 2027)
• Olivier JOUVE - Director (End of term: GM 2028)

Board Committees:

• Audit and Risk Management Committee: 6 meetings, 100% attendance rate, 100% independence, 3 members
• Appointment, Remuneration and Governance Committee: 8 meetings, 97% attendance rate, 100% independence, 4 members
• Sustainability Committee: 3 meetings, 100% attendance rate, 100% independence, 4 members
• New Businesses and M&A Committee: 4 meetings, 95% attendance rate, 80% independence, 5 members

Diversity of Skills and Expertise:

• Energy, Oil and Gas: 67%
• Digitalization, Technology, IT: 78%
• Human Resources & Governance: 89%
• Mandates on Listed Company Boards: 56%
• Strategy: 89%
• Finance, Risk Management: 56%
• International Experience: 89%
• Company Management and Executive Experience: 89%
• Corporate Social Responsibility: 67%

Board Diversity:

• Average age: 62 years
• Gender balance: 50% women, 50% men (excluding employee director)
• Nationalities: France (67%), USA (25%), UK (8%)
• Independence: 87.5% independent directors

The functioning of the Board is governed by Internal Regulations available on the Company's website www.viridiengroup.com

Integration of sustainability-related performance in incentive schemes

Roles Covered

The CEO and employees who receive grants under the LTI (Long Term Incentive) plan have a variable remuneration (including incentive scheme) that integrates sustainability performance.

Remuneration Structure

CEO

Total Compensation Structure:

• Total compensation at target is split equally into:
  • Base Salary: 1/3 of total compensation
  • Short Term Incentives (STI): 1/3 of total compensation
  • LTI: 1/3 of total compensation
• Both STI and LTI include sustainability-related targets

Short-Term Incentive (STI):

• 2/3 are financial objectives
• 1/3 are non-financial objectives
• ESG represents 30% of non-financial goals
• This weighting may change for 2025 based on Board approval and business priorities

Long-Term Incentive (LTI):

• The LTI plan, validated by the Appointment, Remuneration and Governance Committee of the Board, supports engagement and retention by aligning with the company's strategy and performance
• LTI grants are made annually at the discretion of management based on a global envelope validated by the Board, based on company performance, and focusing on key contributors and talents across the organization
• The current LTI plan, last reviewed in 2024, is valid for 2024/2025 and has been streamlined from four to three remuneration vehicles:
  • Performance Shares (100% performance-based)
  • Restricted Shares (100% presence-based)
  • Long-Term Cash (LTC) plan (50% performance/presence-based)
• An ESG target is included in both the Performance Shares and LTC plans

Eligible Employees

LTI Plan:

• ESG criteria account for 20% of Performance Shares in the 2024 LTI plan
• ESG criteria account for 10% of the LTC (due to half being presence-based)
• The weight of LTI in total compensation varies by job level, seniority, and performance

Sustainability KPIs

For Eligible Employees (LTI): The ESG criteria include 3 climate-related indicators:

• Decarbonization of electricity mix
• Power Usage Efficiency of Data Centers
• Carbon intensity

Weighting of Sustainability in Compensation

CEO

STI Component:

• 3% of total compensation from STI (30% of non-financial objectives × 33.33% STI weight × 33.33% total comp weight)

LTI Component:

• 7% of total compensation from LTI (20% of performance criteria for the CEO's performance shares × 33.33% total comp weight)

Total Sustainability-Related Compensation:

• 10% (3% STI + 7% LTI)

ESG Policy Framework

The ESG policy focuses on three main pillars:

Reduce our overall carbon footprint:

• E1: Reduce our carbon footprint at all levels of our value chain
• E2: Encourage internal initiatives supporting our ambitions for carbon neutrality for scopes 1 & 2 GHG emissions by 2030-2050
• E3: Work with our Supply Chain to improve their ESG performance
• E4: Develop an offer of products & services enabling environmentally sustainable activities

Be an exemplary company:

• S1: Promote and ensure the Health & Safety of our employees
• S2: Promote an environment and a culture of Diversity and Inclusion
• S3: Promote a work environment that ensures engagement and development of our employees and attraction of the best talents
• S4: Act as a positive influence towards our employees, suppliers and communities

Strive to the highest standard of governance:

• G1: Maintain a top tier company governance
• G2: Ensure the highest level of ethics in all our activities
• G3: Maintain and promote an effective compliance program
• G4: Manage company's risks holistically, including cyber risk

The latest ESG policy was signed by the CEO in September 2024 and will guide actions for the next two years period.

Risk Management System

The Group has put in place processes and working practices to manage risks across the organization at all levels, across all business lines and support functions. The management of risks is fully integrated in the Group decision-making process. The main financial and non-financial risks, with potential impact on the Group's operational and financial objectives, its reputation or its compliance with laws and regulations, have been duly identified and evaluated.

The Group has implemented a risk management system throughout the organization (business lines and functions) to identify, assess and control risks:

• Risk identification: The identification of events that could have an impact on the Group is supported by a combination of techniques and tools including event inventories, internal analyses, risk interviews, process flow analysis, leading event indicators and loss event data methodologies
• Risk assessment: All identified risks are assessed and prioritized as per their criticality according to their impact (critical/major/significant/low) and likelihood of occurrence (almost certain/possible/rare/unlikely). In assessing risks, managers consider the residual risks (after mitigation measures and controls in place) and their potential impact on people, health and safety, environment, finance, compliance with laws and regulations and on the Group's reputation. Additional mitigation measures and plans may be set up to better manage these risks. Their progress against those plans is monitored on a regular basis
• Risk control: Risks are controlled through robust processes allowing their avoidance, reduction, sharing or acceptance. The Group develops comprehensive processes to reduce risk probability, risk severity or both. Control activities are followed from policies and procedures established to manage risks

The principles of the comprehensive risk management policy and framework are consistent with the recommendations issued by the professional standards (COSO ERM, ISO 31000, AMF).

The Group Risk Management System is managed by the Director of Risks Management and Insurance, who reports to the Finance and Legal organization.

Risk Mapping

One of the standardized tools of the Group's risk management program is the Risk Map, which provides a shared view of the risks having a potential material impact on the Group. Risk registers are used to classify the risks by nature: Business, Governance & Strategy risks, Operational risks, Information Assets & Technologies risks, People risks, Finance Risks and Legal, Regulatory & Compliance risks. The risk registers and the risk map are reviewed by the Executive Leadership team on an annual basis as per the Group's strategy or more frequently as appropriate. The Risk Map is presented to the Audit and Risk Management Committee on an annual basis.

Internal Control System

Viridien is listed in France and is therefore subject to the French Loi de sécurité financière. The Company complies with the 2013 COSO internal control integrated framework, established by the Committee of Sponsoring Organizations of the Treadeway Commission ("COSO 2013").

The internal control and risk management frameworks are designed to provide reasonable assurance regarding the achievement of objectives in the following areas:

• Safeguard of the resources and assets through the design, update and optimization of relevant processes
• Reliability and accuracy of financial information
• Compliance with applicable laws and regulations

The principal objective of our internal control and risk management system is to identify and control risks related to the activities of the Group, as well as the risks related to errors and omissions in accounting and financial reporting.

Control Environment

Viridien commits to act with integrity and professionalism across all locations, business lines and support functions. The Group's standards and expectations as regards to Integrity and Ethics are stated in our Ethics Policy and in the Code of Business Conduct, which apply to all Group's employees.

Internal Control Function: The Group has an Internal Control Department whose role is to support the organization in implementing and maintaining effective processes, and to ensure that control procedures effectively mitigate the identified risks. It also maintains our internal control framework and coordinates the evaluation system of internal control over financial reporting.

Internal Audit: The Internal Audit Department is an independent body that has direct access to the Executive Leadership team and reports to the Chief Executive Officer and to the Audit and Risk Management Committee. It assists the Executive Leadership team and the Audit and Risk Management Committee in carrying out their oversight responsibilities for the effectiveness of the Group's risk management, internal control and governance.

The Internal Audit Department evaluates internal controls based on the COSO 2013 framework and tools and in compliance with the Code of Conduct of the Institute of Internal Auditors (IIA). Internal Audit priorities are defined based on current operations, the assumed level of risk and Group risk analysis performed by Risk Management. The annual Internal Audit plan is defined by the Internal Audit Department and is approved by the Executive Leadership team and the Audit and Risk Management Committee.

Strategy

Our strategy is to deliver the leading technology, data, equipment and services that help our industry to discover and responsibly manage the Earth's natural resources. We provide the best understanding of the subsurface – always increasing the precision and the value that we bring to the Exploration, Development and Production value chain.

We are a People, Data and Technology Company with strong and growing leadership positions in our three core businesses of Geoscience, Earth Data and Sensing & Monitoring. Viridien has set three clear objectives:

1. Ensuring the Group's Sustainability

First and foremost, we need to ensure that our Group generates positive net cash flow throughout industry cycles thanks to our asset-light business model.

2. Reinforcing and Taking Advantage of Our Know-How

Secondly, we must reinforce our businesses that are already performing well and capitalize on our capabilities and expertise so that Viridien can grow in an improving market. Viridien will continue to invest in human capital and R&D, specifically in development of algorithms, software, high-performance computing and digital platform, to further strengthen its Geoscience activities that continue to maintain leading market share as a result of their technology differentiation. Viridien will also continue to pursue its investment strategy in the Earth Data business, which has also always performed well. In Sensing and Monitoring, Viridien continues to lead the market as a result of its continuing investments in R&D.

3. Diversifying Our Expertise and Industry-Leading Capabilities

Thirdly, we want to diversify our core expertise and industry-leading capabilities outside the traditional oil and gas activities. We want to build on our expertise in new markets adjacent to the ones where we operate today, such as low carbon energy (Carbon Capture Utilization and Storage, minerals and mining), digital platform and the use of analytical technologies, artificial intelligence and machine learning, High Performance Computing (HPC), or Structural Health Monitoring (SHM).

Business Model

Company Overview: Viridien is a global technology and HPC leader that provides data, products, services and solutions in Earth science, data science, sensing and monitoring. Our unique portfolio supports our clients in efficiently and responsibly solving complex digital, energy transition, natural resource, environmental, and infrastructure challenges for a more sustainable future. Viridien employs around 3,400 people worldwide.

Capital Resources:

• Financial: EQUITY: $1.12bn, NET DEBT: $921m, LIQUIDITY: $392m, CAPITAL EMPLOYED: $2.044bn
• Industrial: MANUFACTURING SITES: 5, IMAGING CENTERS: 23, DATACENTERS: 3
• Human: PERMANENT EMPLOYEES: 3,378, NATIONALITIES: 86, GENDER DIVERSITY: 70%/30%
• Intellectual: R&D INVESTMENT: $57m, EMPLOYEES IN R&D: 509, PATENTS: 915

Value Creation:

• Financial: SEGMENT REVENUE GROWTH: -1%, SEGMENT ADJUSTED EBITDAS MARGIN: 41%, NET CASH FLOW: $56m
• Industrial: PRODUCTION/HEAD: $343K, K. CHANNELS DELIVERED: 233, STREAMER SECTIONS DELIVERED: 338
• Human: EMPLOYEES WITH >5 YEARS SENIORITY: 68%
• Environmental: Direct & Indirect GHG emissions - Scope 1: 2 kt eq. CO2, Scope 2: 14 kt eq. CO2, POWER EFFICIENCY (PUE): 1.33, % OF REVENUES ALIGNED TO TAXONOMY: 32.3%

Business Description

Viridien is organized into two segments:

1. Data, Digital & Energy Transition (DDE)

Includes Geoscience (GEO) and Earth Data (EDA)

• Revenue 2024: $787 million (70% of consolidated revenues)
• Geoscience: Advanced subsurface imaging with 23 data imaging centers globally providing region-specific expertise and technology. Computing power: 520 Pflops. Production/head: $343k.
• Earth Data: Portfolio of geographical opportunities building geoscience database with high prefunding. Investment in surveys: $252m. Data library regional split: Europe-Africa 38%, Latin America 29%, North America 24%, Others 9%.

2. Sensing & Monitoring (SMO)

Offers full spectrum of systems, sensors, sources for seismic acquisition and structural health monitoring through Sercel brand.

• Revenue 2024: $330 million (30% of consolidated revenues)
• Production breakdown: Land $157m, Marine $117m, BTC $56m

Geographic Revenue Distribution 2024:

• North America: $282m (23%)
• Latin America: $192m (16%)
• Europe, Africa, and Middle East: $547m (45%)
• Asia Pacific: $191m (16%)

Strategy Implementation

Growing Core Businesses: We continue to invest in key high-end geoscience technologies. In 2024, Geoscience segment revenue grew 20% year-on-year, outperforming E&P capex. Earth Data segment sales were up 14% year-on-year, with prefunding rate of 81%.

New Businesses Growth: New Businesses achieved over 30% growth in 2024, reaching close to $120 million revenue, with strongest contributors being Carbon Storage and Infrastructure Monitoring.

Technology Leadership: We continually develop technologies to improve high-quality images, with key developments in full waveform inversion (FWI) and FWI Imaging, especially when combined with high-end data acquisition such as OBN (ocean bottom node).

Market Environment: The industry has stabilized with improved visibility. E&P companies can achieve goals with oil prices of US$65-85 per barrel. Offshore exploration gaining traction as clients seek to replenish opportunity portfolios. Core basins in US Gulf, Norway, and Brazil benefit from this environment.

Financial Performance 2024: Generated organic positive net cash-flow of US$56 million, exceeding initial target of c.US$30 million. Net debt reduced to US$921 million through US$60 million bond repurchase.

Interests and views of stakeholders

Overview

Viridien is committed to constructive dialogue with our stakeholders. This engagement allows us to comprehend their perspectives, concerns, and expectations, which in turn guide our sustainability initiatives, projects, and operational processes. The insights derived from these periodic interactions contribute to shaping our due diligence efforts and the double materiality assessment.

Our sustainable development strategy is guided by the material issues that Viridien and its various stakeholders consider to be priorities.

Every three years, in the light of the update of our double materiality analysis, we analyze significant developments in the Sustainability Committee and align our strategy if necessary. There is no significant change in the material sustainability matters of Viridien compared to previous years, following the revision of the IROs in 2024, that would require modifications in our strategy or our business model.

As our portfolio grows to include new activities beyond oil and gas, the makeup and priorities of our key stakeholders are also shifting.

Stakeholder engagement approach

Viridien maintains periodic engagement with most of our stakeholder's category throughout the year to gain a clear understanding of their priorities and the impact of our business activities on them. However, we are aware that we still must increase our commitments to our suppliers, and we will strive to improve this point in 2025.

Recognition of the interests of key stakeholders by the organization is one of the fundamental principles of our ESG strategy, and the establishment of quality dialogue with key stakeholders is a key factor in the credibility of our sustainability approach.

Stakeholder identification methodology

Each stakeholder was evaluated based on the importance of mutual impacts between Viridien and the stakeholder concerned. Selected stakeholders were interviewed individually in 2022 by a third party independent of the organization.

Key stakeholder groups, matters and engagement channels

Integration into strategy and business model

The company states that insights from stakeholder engagement guide sustainability initiatives, projects, and operational processes. The company aligns its strategy every three years in light of the double materiality analysis updates.

Future commitments

In line with our internal procedure, we have already committed ourselves to carrying out a new Double Materiality Analysis in 2025, drawing on the lessons learned from the first year of implementation of the European Directive in 2024. This new analysis will form the basis of our sustainability report for the financial years 2025-2027.

Specific stakeholder engagement examples from risk management

The company references stakeholder engagement in its risk management processes, including:

• Delivery of general awareness and targeted training (including e-learning) to key stakeholders (employees and third parties including business partners such as commercial consultants), related to trade compliance, sanctions, anti-bribery and corruption risks, as well as data privacy
• Provision of a secure and confidential reporting process to assist stakeholders raising questions or concerns (such as EthicsPoint hotline administrated by an independent third party supporting anonymous reporting to enable employees to report any suspected behavior conflicting with the Code of Business Conduct)

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

Material IROs list and description

The tables below outline the key sustainability-related impacts and risks identified in 2024 through the update of our double materiality assessment using our 2022 analysis as a base line. The table categorize these material ESRS topics, whether the impacts and risks or opportunities occur within Viridien's own operations or its value chain and the timeline of occurrence. We have adopted the same time horizons as requested by ESRS1 paragraph 6.4: short-term corresponds to the reporting period, medium-term up to 5 years and long-term more than 5 years.

In 2024 we identified 46 sustainability matters relevant to Viridien based on the list established by the ESRS and the sustainability matters considered in 2022 for our materiality analysis.

We then specified 66 IROs associated with these sustainability matters for materiality scoring.

To assess the materiality of these IROs, we brought together a panel of 11 Viridien employees' representative of the company's organization. The scoring from 1 to 16 is based on the scales described above and is the product of severity by likelihood for the Risks & Opportunities and the product of the average of the severity, the irremediability and the scope of application by the likelihood for the Impacts.

We consolidated the individual ratings of the 11 panel participants and considered all IROs scoring above 8 as material for Viridien. Out of the 66 evaluated IROs, 23 scored above 8.

Brief descriptions are provided for each impact and risk, more details can be found in the respective "Environment," "Social," and "Governance" sections of this chapter.

IROs identified in the table below address our entire workforce.

CLIMATE CHANGE

WATER RESOURCES

BIODIVERSITY AND ECO-SYSTEMS

WASTE

BUSINESS CONDUCT

SECTOR SPECIFIC

OWN WORKFORCE

WORKERS IN THE VALUE CHAIN

Interaction with strategy and business model

Viridien is an advanced technology, digital and Earth data company that pushes the boundaries of science for a more prosperous and sustainable future. With our ingenuity, drive and deep curiosity we discover new insights, innovations, and solutions that efficiently and responsibly resolve complex natural resource, digital, energy transition and infrastructure challenges. We must pursue these goals sustainably, and Viridien has a clear roadmap to achieve carbon neutrality for scopes 1 & 2 GHG emissions by 2050.

Oil and gas, the cornerstone of our core business, will remain essential to long-term energy security, requiring active exploration and the development of new fields to counter declining production. This encourages advances in digital technologies and increases the volume of data to be processed, thus benefiting our industrial sector.

However, as fossil fuel productions are expected to plateau and possibly decrease, it is crucial to develop new businesses for long-term growth. E&P companies and service companies adopt various strategies to achieve this. We have chosen to leverage our core capabilities, focusing on three areas of diversification, climate change mitigation initiatives (such as Carbon Storage, Energy Transition Minerals & Mining), Digital solutions (including Data Hub, HPC & Cloud services), and Infrastructure Monitoring.

Digital technologies will enhance our efficiency and effectiveness, providing a more precise understanding of the subsurface.

Impacts on people and environment

All the people in our own workforce potentially impacted by our operations are included in the scope of the materiality analysis and none are subject to material impacts induced by our activities worldwide including child labor or forced labor. We do not foresee any negative material impact on our own workforce from our short-medium-long term actions and plans to mitigate our impact on climate and develop greener and climate-neutral operations.

To the best of our knowledge workers from our value chain are not exposed to material impacts resulting from our current activities including child labor or forced labor.

Taking account of our material impacts is part of our day-to-day business and do not necessitate specific resources other than the one already embedded in our organization and our operations.

Financial effects and resources

Current and anticipated financial effects:

Resilience

Viridien voluntarily reports its impact on climate change annually through the Carbon Disclosure Project (CDP), a global non-profit.

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

Overview

Viridien conducted a double materiality analysis (DMA) in 2024 to identify material Impacts, Risks and Opportunities (IROs). All data points included in the Environmental (E), Social (S), and Governance (G) sections correspond to the IROs identified as material through this Double Materiality Analysis.

The company is in its first year of CSRD application, characterized by uncertainties regarding the interpretation of texts, the absence of established practices and frameworks in particular for the double materiality assessment, and an evolving internal control system.

Double Materiality Approach

The double materiality approach provides a holistic evaluation of how sustainability factors influence the company's operations (financial materiality) and the company's impact on environmental, social, and governance (ESG) matters (impact materiality). This dual perspective ensures a comprehensive understanding of sustainability risks and opportunities while fostering informed decision-making.

Financial Materiality

Financial materiality reflects how external sustainability risks and opportunities could impact Viridien's financial performance and position. The assessment prioritizes risks with significant potential to influence financial outcomes like EBITDA, CapEx, or OpEx. Viridien's financial materiality evaluation focuses primarily on identifying and addressing critical sustainability risks and opportunities in 2024.

Financial Materiality Scoring Criteria:

Impact Materiality

Impact materiality assesses Viridien's influence on environmental and social factors. This approach identifies and evaluates how the company's operations and value chain affect broader sustainability issues. Key considerations include the scale, scope, and irreversibility of impacts. The assessment emphasizes both actual and potential outcomes, helping to identify material topics that require attention.

Viridien used the same severity scales as those defined by the ERM framework, enriching them with third-party input, and introduced two additional criteria: scope and irremediability.

Methodology and Inputs

Value Chain Mapping

Viridien assessed the perimeter used to identify the IROs, particularly in relation to the perimeter of the consolidated financial statements. The company conducted mapping of the identified IROs, including the description of their distribution in the company's own activities and the value chain, as well as their time horizon (short, medium or long term).

Stakeholder Consultation

Viridien is committed to constructive dialogue with stakeholders. This engagement allows the company to comprehend their perspectives, concerns, and expectations, which in turn guide sustainability initiatives, projects, and operational processes. The insights derived from these periodic interactions contribute to shaping due diligence efforts and the double materiality assessment.

Viridien maintains periodic engagement with most stakeholder categories throughout the year to gain a clear understanding of their priorities and the impact of business activities on them. Key stakeholders consulted include:

• Customers: Customer satisfaction surveys, CRM, Key Account Managers organization, periodic reviews at senior management levels
• Shareholders & investors: Shareholders General Assembly, Capital Market Day, road shows, quarterly results conference calls
• Employees: Employee representative Board member, elected employees Group work council, annual people review, performance reviews, engagement survey (Great Place to Work)
• Main suppliers: Supplier Due Diligence, Supplier Code of Conduct, ESG performance evaluation (Altares D&B)
• Local communities: Partnership with Universities, career/employment fairs, local social responsibility initiatives
• Nature: Marine mammals through operational practices, QuietSea™, TPS broad band acoustic source

The company acknowledges it must increase commitments to suppliers and will strive to improve this point in 2025.

Frequency and Review

Every three years, in light of the update of the double materiality analysis, Viridien analyzes significant developments in the Sustainability Committee and aligns strategy if necessary.

There is no significant change in the material sustainability matters of Viridien compared to previous years, following the revision of the IROs in 2024, that would require modifications in strategy or business model.

As the portfolio grows to include new activities beyond oil and gas, the makeup and priorities of key stakeholders are also shifting.

Governance and Oversight

The DMA exercise results (material sustainability matters, views and interests of stakeholders, IRO assessment) and the ESRS gap analysis are shared with the Sustainability Committee of the Board.

The mapping carried out by the Entity of the identified IROs was examined for consistency with elements presented to the Board of Directors.

Materiality Threshold

The process defined and implemented by Viridien has enabled, in accordance with the ESRS, to identify and assess its impacts, risks and opportunities related to sustainability matters, and to identify the material impacts, risks and opportunities, that lead to the publication of information disclosed in chapter 3 of the management report.

Sector Benchmarks and ESRS Guidance

The sustainability statements are prepared in accordance with the requirements set out by the ESRS on the one hand, and Article 8 of Regulation (EU) 2020/852 for taxonomy information on the other, which are applicable on the date of preparation of this first Sustainability Statement.

Sustainability matters mentioned in paragraph AR 16 of the "Application Requirements" of ESRS 1 and, where applicable, those that are specific to the Entity, were considered in the IRO identification process.

Transition plan for climate change mitigation

Disclosure status

Viridien explicitly states in section 3.1.1.2 (page 60):

"The transition plan, as per E1-1, is currently being defined. Viridien has been conducting in-depth work to identify and calculate its scope 3 carbon emissions since 2023, while carrying out studies on the quantification of levers for action. The transition plan will thus be strengthened and extended in 2025 to integrate the entire carbon footprint to meet the requirements of E1-1."

This statement is repeated in section 3.2.2.2 (page 85).

Current commitments and targets

Target year for net zero / carbon neutrality:

• Carbon neutrality by 2050 for scopes 1 & 2 GHG emissions (commitment established since 2020)

Baseline and reduction milestones:

• Baseline year: 2019 (excluding seismic acquisition activities divested in 2020)
• 2019 baseline: 58 ktCO2eq (scope 1 & 2, excluding acquisition business)
• Intermediary milestone: Reduce by half (50%) 2019 levels of scope 1 & 2 GHG emissions by 2030
• Projected 2030 emissions: 28.6 ktCO2eq (representing an approximately 80% reduction from 2019 baseline, overachieving the 50% target)

Achieved reductions:

• 2019-2023 reductions: 35.4 ktCO2eq
• 2024 efficiency & decarbonization: 7.5 ktCO2eq reduction
• Expected GHG emission reductions until 2030: 3.4 ktCO2eq (additional)
• Total GHG emission reduction target until 2030: 44.3 ktCO2eq
  • Scope 1 reduction target: 0.8 ktCO2eq
  • Location-based scope 2 reduction target: 43.5 ktCO2eq
  • Market-based scope 2 reduction target: 0 ktCO2eq
  • Scope 3 reduction target: 0 ktCO2eq

2024 actual emissions:

• Scope 1: 2,165 t CO2eq (2.2 kt)
• Scope 2 (location-based): 14,181 t CO2eq (14.2 kt)
• Scope 2 (market-based): 0 t CO2eq
• Scope 3: 1,078,088 t CO2eq (1,078.1 kt)
• Total GHG emissions (location-based): 1,094,434 t CO2eq
• Total GHG emissions (market-based): 1,080,253 t CO2eq

Alignment with Paris Agreement and SBTi

Viridien confirms (section 3.2.2.2, page 85):

"We confirm that our activities are not excluded from the 'Paris Agreement' benchmarks."

SBTi validation status: Not disclosed

Scope of the plan

Entities and geographies: The plan covers Viridien's own operations globally, with particular focus on:

• Three major data center hubs: Texas (United States), United Kingdom, and France
• SMO operational sites including Nantes, St-Gaudens (France), Rotterdam (Netherlands), Houston (USA), Singapore
• Office locations globally

Value chain segments:

• Currently focused on scope 1 & 2 (own operations)
• Scope 3 analysis ongoing since 2023; transition plan to be extended in 2025 to integrate entire carbon footprint

Key decarbonization levers

1. Energy efficiency

Data Centers:

• Power Usage Effectiveness (PUE) improvement:
  • 2024 weighted average PUE: 1.33 (improved from 2023: 1.35)
  • 2030 target PUE: 1.30
  • 2050 ambition PUE: 1.0
• Life Cycle Analysis completed in December 2024 for major sites based on ISO 14040 & 14044 standards
• EU Code of Conduct on Data Centers: Filed November 14, 2024
  • 83% of best practices to be implemented within 3 years
  • 94% for mandatory best practices

SMO sites:

• ISO 50001 certification strategy by 2025 for highest energy consumption sites
  • Sercel Junfeng site certified October 29, 2024
  • Nantes, Saint Gaudens, Rotterdam, Houston sites planned for 2025 certification
• Deployment of connected sensors to identify consumption patterns
• ACT (Accelerate Climate Transition) approach initiated September 2024

Additional efficiency measures:

• Optimization of vibrator truck transmission modes
• Trajectory optimization in field operations to limit fuel consumption
• Electrical consumption optimization of sensors and wired nodes

2. Decarbonization of energy supply

Renewable electricity contracts (as of 2024):

• Texas data center: Wind energy contract since May 2023 with Renewable Energy Certificates (REC)
• UK: All activities powered by green energy contract
• France: All sites including data center backed by renewable origin guarantees
• USA: 100% electricity supply guaranteed by REC from April 2025 onwards (Houston SMO site switching)
• Solar projects: Self-consumption projects planned for SMO sites in Nantes and St-Gaudens from 2026 (covering 16% and 15% of electricity consumption respectively)

Energy mix statistics (2024):

• Total energy consumption: 135,766 MWh
• Renewable energy consumption: 97,222 MWh (72%)
• Fossil energy consumption: 38,544 MWh
• Nuclear sources: 1,211 MWh
• 72% contractual instruments bundled with attributes
• 28% unbundled energy attribute claims

3. Process and product initiatives

Manufacturing and inputs:

• Recycling of plastic raw materials at St Gaudens site
• Aluminum recycling initiative at Sercel Junfeng site
• Reuse of supplier packaging
• Waste management optimization through ISO 14001 certification by 2025

Transport and logistics:

• Maritime transport favored over air when supply lead times allow
• Electric trucks encouraged for short-haul routes
• Systematic customer notification of carbon impact for chosen transport mode
• Soft mobility and car-sharing promotion for employees
• Train travel prioritized for business trips

4. Fleet electrification

• Company car fleet to be 100% electric by 2050
• France: All end-of-lease vehicles replaced by electric or hybrid cars
• USA and UK: Financial assistance to employees for purchasing "greener" vehicles

CapEx / Investment commitments

No specific CapEx commitments disclosed for the transition plan.

Taxonomy-aligned CapEx (2024):

• Total: €31 million (30.0% of total CapEx)
• Activity: Data processing, hosting and related activities (CCA 8.1)
• Classification: Enabling activity for climate change adaptation

Locked-in emissions and stranded asset analysis

Not disclosed.

Use of carbon credits / removals

No use of carbon credits or removals disclosed for scope 1 & 2 targets. The company states (section 3.2.2.4.5, page 95): "Viridien does not currently have any carbon removal projects."

Climate scenario analysis

Viridien partnered with a global reinsurance and insurance leader in 2024 to analyze physical climate impacts on ten strategic assets including three main data centers. Analysis used IPCC scenarios aligned with Shared Socio-economic Pathways (SSPs):

• SSP1 (1.5°–2°C by 2100)
• SSP2 (2.5°–3°C)
• SSP5 (4°–5°C)

Key findings:

• Current physical risk profile primarily associated with severe weather events in Houston, Texas and rising sea levels in Rotterdam
• Climate risks projected to remain stable through 2030 and 2050
• No immediate climate change adaptation measures necessary for assessed locations

Governance and monitoring

Viridien has integrated climate considerations into strategic planning. ESG governance bodies regularly review points of attention and make case-by-case decisions.

Three-year ESG objectives (2025-2027):

• Communicate internally and externally about energy efficiency and GHG reduction initiatives
• Improve energy efficiency and decarbonize energy supply
• Monitor water consumption
• Assess and improve supply chain sustainability
• Develop products and services enabling environmentally sustainable operations

External reporting and ratings

• CDP Climate Change: "C" rating (February 2024, based on 2022 data) - average for industrial support services
• EcoVadis: Bronze Medal - top 84th percentile of market, top 35% of evaluated companies
• MSCI ESG Ratings: AA rating (January 2025) - top tier in industry
• UN Global Compact: Joined in 2024

Policies related to climate change mitigation and adaptation

Viridien's environmental policy is integrated in its ESG policy described in section 1.2.1.

Environmental Policy (integrated in ESG Policy)

Core commitment:

As one of Viridien's values, responsibility is at the core of everything the company does. Viridien is committed to managing the potentially negative impacts of its operations, making every possible effort to mitigate and minimize them, while acting as a positive influence on stakeholders.

Key principles:

• Act responsibly and ethically and abide by all applicable laws and regulations, providing employees and contractors with guidance and support to enable compliance
• Have a precautionary approach towards challenges, taking the time to assess risks and manage the potential impacts of operations
• Use prevailing influence with service providers and suppliers to support the continuous improvement of their environmental performance
• Minimize environmental impact and promote sustainable practices across activities

Climate-specific commitments:

1. Set measurable targets and regularly assess progress against these goals; report environmental data across operations, measuring and monitoring the Carbon Footprint
2. Reduce overall carbon footprint by tackling direct and indirect emissions (scopes 1, 2 and 3) across the entire value chain; aim at carbon neutrality by 2050 in scopes 1 & 2 of the Greenhouse Gas Protocol
3. Foster the development of low-carbon products and sustainable services to cater for customer needs and collaborate on carbon footprint reduction projects and initiatives
4. Aim at the complete decarbonization of energy supply supporting activities and strive to reduce energy consumption encouraging smart technologies and constantly improving energy efficiency
5. Focus on reducing waste, improving water management, and promoting circular economy principles to reduce consumption and promote recycling and reuse

Implementation and monitoring:

• Three-year group objectives are defined to foster the right behaviors and culture, align operations with sustainable practices, address environmental and social risks and ensure ethical governance
• The latest objectives were validated by the CEO in October 2024 and cover the period 2025-2027
• Each business segment must define and monitor its own specific objectives, in line with the framework defined by the three-year objectives
• The company communicates internally and externally about energy efficiency and greenhouse gas (GHG) emissions reduction initiatives
• Viridien voluntarily reports its impact on climate change annually through the Carbon Disclosure Project (CDP)

International alignment:

• The company confirms that its activities are not excluded from the "Paris Agreement" benchmarks

Key targets:

• Carbon neutrality by 2050 for scopes 1 & 2 of the Greenhouse Gas Protocol
• Intermediary milestone to reduce by half its 2019 levels of scope 1 & 2 GHG emissions by 2030 (baseline set at 58ktCO2eq using 2019 scope 1&2 emissions excluding acquisition business)

Specific measures:

• For High-Performance Computing (HPC) operations: Life Cycle Analysis completed in December 2024 based on ISO 14040 & 14044 standards; participation in the EU Code of Conduct for Data Centre Energy Efficiency, which includes commitments to energy monitoring, implementation of best practices, and continuous improvement
• Wind energy contract in place since May 2023 for Texas Data Center, backed by renewable Energy Certificates (REC)
• Target PUE (Power Usage Efficiency) of 1.30 by 2030 and aiming for 1 by 2050 (weighted average PUE achieved in 2024: 1.33)

Note on transition plan:

The transition plan, as per E1-1, is currently being defined. Viridien has been conducting in-depth work to identify and calculate its scope 3 carbon emissions since 2023, while carrying out studies on the quantification of levers for action. The transition plan will be strengthened and extended in 2025 to integrate the entire carbon footprint to meet the requirements of E1-1.

Actions and resources in relation to climate change policies

Climate change mitigation actions

Achieved and expected GHG emission reductions:

• Achieved GHG emission reductions during 2024: 7.5 kt CO2eq
• Expected GHG emission reductions until 2030: 3.4 kt CO2eq

Total GHG emission reduction target until 2030: 44.3 kt CO2eq, broken down as:

• Scope 1 reduction target: 0.8 kt CO2eq
• Location-based Scope 2 reduction target: 43.5 kt CO2eq
• Market-based Scope 2 reduction target: 0 kt CO2eq
• Scope 3 reduction target: 0 kt CO2eq

Operational improvement actions

The company's approach focuses on:

• Direct emission reductions through operational improvements
• Energy efficiency measures
• Renewable energy transitions
• Supply chain engagement

Note: The company confirms it does not purchase or utilize carbon credits and does not have an internal carbon pricing mechanism implemented.

Water efficiency initiatives (SMO division)

Water pipe renewal at Chinese facility (2024):

• Scope: Own operations (SMO manufacturing site in China)
• Action: Renewal of water pipes to mitigate leakage
• Outcome achieved: Significant reduction of water consumption around 40%
• Resources allocated: No significant Capex linked to water management engaged in 2024; only preventive maintenance forecast for the future

Water sub-metering installation:

• Scope: Own operations (SMO sites in China and Holland)
• Action: Installation of water sub-meters at strategic locations to monitor industrial process water consumption
• Process coverage: Surface treatments for geophone manufacturing (China), extrusion processes (US and Holland)

Business diversification for transition resilience

Viridien is diversifying activities outside core Oil & Gas business into:

• Low Carbon markets: Minerals & Mining and CCS (Carbon Capture and Storage)
• Markets beyond energy: High-Performance Computing (HPC) and Infrastructure Monitoring

This diversification contributes to business model resilience and supports the company's position that it does not anticipate material financial effects from physical or transition climate risks.

Resources allocated

No specific financial resources (CapEx or OpEx) for the climate transition plan are disclosed in relation to Taxonomy-aligned activities. The company states these are "N/A" in the reporting tables.

Targets related to climate change mitigation and adaptation

Carbon Neutrality Target (Scopes 1 & 2)

Target metric: Carbon neutrality for Scopes 1 & 2 GHG emissions

Target year: 2050

Baseline year: 2019

Baseline value: 58 kt CO₂eq (excluding acquisition business)

Scope: Own operations (Scopes 1 & 2)

Type: Absolute target

Validation: Not specified as science-based or externally validated

Description: Major quantitative objective of achieving carbon neutrality by 2050 in scopes 1 & 2 of the greenhouse gas (GHG) protocol. The baseline was set at 58 kt CO₂eq using 2019 scope 1&2 emissions excluding the acquisition business (the acquisition business emissions were 337 kt CO₂eq in 2019, reduced to 3 kt CO₂eq after divestment).

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Interim 2030 Reduction Target (Scopes 1 & 2)

Target metric: GHG emissions reduction (Scopes 1 & 2)

Target value: 50% reduction (in absolute terms)

Target year: 2030

Baseline year: 2019

Baseline value: 58 kt CO₂eq (excluding acquisition business)

Scope: Own operations (Scopes 1 & 2)

Type: Absolute target

Validation: Not specified as science-based or externally validated

Breakdown by scope:

• Total GHG emission reduction target until 2030: 44.3 kt CO₂eq
• Scope 1 reduction target until 2030: 0.8 kt CO₂eq
• Location-based Scope 2 reduction target until 2030: 43.5 kt CO₂eq
• Market-based Scope 2 reduction target until 2030: 0 kt CO₂eq
• Scope 3 reduction target until 2030: 0 kt CO₂eq

Progress to date (2024):

• Achieved GHG emission reductions during 2024: 7.5 kt CO₂eq
• Expected GHG emission reductions until 2030: 3.4 kt CO₂eq
• Total GHG emissions 2024 (location-based): 1,094,434 t CO₂eq
• Total GHG emissions 2024 (market-based): 1,080,253 t CO₂eq
• Gross Scope 1 GHG emissions 2024: 2,165 t CO₂eq
• Gross location-based Scope 2 GHG emissions 2024: 14,181 t CO₂eq
• Gross market-based Scope 2 GHG emissions 2024: 0 t CO₂eq

Strategy: Company-wide efforts focus on improving power usage efficiency of data centers, offices and factories, and increasing the share of sustainable energy in the energy supply mix, mainly through energy purchased from utility providers.

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Strategic Alignment

Viridien's carbon reduction targets were made public in 2020, and energy transition strategy and targets were made public in 2022. The company confirms its activities are not excluded from the "Paris Agreement" benchmarks. The pledge to become net zero by 2050 aligns with the commercial strategy of advancing technologies to support clients in achieving business and transition goals.

Energy consumption and mix

Total energy consumption (2024)

Viridien's total energy consumption in 2024 was 135,766 MWh, representing the equivalent consumption of 27,000 to 35,000 European households (based on Eurostat average of 3.5-4.5 MWh per household per year).

Disaggregated energy mix

Energy intensity

• Energy intensity per revenue: Data not directly disclosed in E1-7 format. Revenue data available in section 6.1.5 Note 19.

Scope and methodology

Reporting boundaries: The energy consumption data covers Viridien's consolidated scope, aligned with financial reporting boundaries.

Energy mix breakdown:

• Electricity accounts for close to 90% of total energy consumption
• 80% of purchased electricity comes from renewable sources (market-based)
• Data centers represent 67% of total electricity consumption
• Natural gas and purchased heat each account for just under 5% of the energy mix

Geographic coverage:

• USA electricity: Market-based renewable in Texas data center (backed by RECs since May 2023) and partially at SMO sites (Houston to switch to renewable by April 2025)
• Europe (including UK): 100% market-based renewable electricity
• Rest of world: Location-based accounting

Purchased heat: Includes heating purchased from Xu Shui municipality in China for SMO manufacturing subsidiary (scope 2).

Self-generation: 52 MWh self-generated renewable energy reported for 2024.

Nuclear estimation: The 1% nuclear share is estimated based on available information on nuclear generation in national electricity grids where Viridien operates.

Planned improvements: Photovoltaic shading systems planned for SMO sites in Nantes and St-Gaudens from 2026, expected to cover 16% and 15% of respective electricity consumption needs.

Gross Scopes 1, 2, 3 and Total GHG emissions

Scope 1 GHG emissions

Scope 1 sub-breakdown by emission source (2024):

• Stationary combustion: 62%
• Mobile combustion / Transport: 12%
• Refrigerant gas (fugitive emissions): 26%
• Process emissions: Not separately disclosed

Scope 1 emissions primarily come from natural gas consumption for heating and industrial processes at SMO sites, fuel for company vehicles and employee business travel reimbursements, and refrigerant gas leakages added since 2023.

Scope 2 GHG emissions

Scope 2 emission sources (2024 energy mix by kWh):

• Market-based (renewable electricity): 76%
• Location-based (grid electricity): 19%
• Purchased heat: 5%

Scope 2 includes purchased electricity for data centers (67% of total electricity consumption), offices, and manufacturing sites, plus purchased heating at the SMO Xu Shui site in China. All European and most US electricity is market-based (renewable); remaining is location-based. By April 2025, 100% of US electricity will be market-based (renewable), raising renewable share to ~90%.

No purchased cooling or steam is reported.

Scope 3 GHG emissions

Scope 3 emissions by category (% of total Scope 3, 2024):

• Category 11 (Use of sold products): 59%
• Category 1 (Purchased goods and services): 31%
• Category 4 (Upstream transportation and distribution): 8%
• Others: 2%

Methodology notes:

• Category 1 (Purchased goods and services): 80% calculated using monetary emission factors applied to macro-categories of services from SAP/General Ledger. Physical data used where available (e.g., Microsoft 365/Azure emissions provided directly, representing 0.004% of Scope 3).
• Category 2 (Capital goods): Covers tools, machinery, buildings, IT equipment for SMO and HPC divisions (majority of fixed assets). Uses physical data where available or monetary inputs based on purchase value, allocated over depreciation period.
• Category 3 (Fuel- and energy-related activities): Mainly electricity transmission and distribution losses, using Carbon Footprint country-specific T&D factors.
• Category 4 (Upstream transportation and distribution): Includes marine diesel from offshore seismic data suppliers and aviation fuel from magnetic data suppliers for EDA activity, plus inbound/internal freight (ton.km) for SMO.
• Category 5 (Waste generated in operations): Precise inventory for SMO sites (~75% of waste generation) by type and treatment. Bulk hazardous/non-hazardous data for rest of Group with generic emission factors.
• Category 6 (Business travel): Travel agency data consolidated in travel tracker tool (air/train distances, hotel nights). Road km from HSE system and SMO expense tracking. Visitor travel not yet monitored except for SMO.
• Category 7 (Employee commuting): SMO and HPC conducted commuting surveys covering >50% of headcount. Rest of Group uses headcount-based estimation.
• Category 8 (Upstream leased assets): Not applicable.
• Category 9 (Downstream transportation and distribution): SMO only, tracking road/air/maritime/rail transport (ton.km) of sold products and repaired equipment. Digital products (rest of Group) require no physical distribution.
• Category 10 (Processing of sold products): Not applicable.
• Category 11 (Use of sold products): Covers SMO's main products (vibrator trucks, 508XT telemetry, land/marine nodes, streamer sections, downhole tools). Unit carbon footprint calculated based on assumptions on lifespan and customer usage patterns (diesel/electricity consumption). Quantities sold in year used for consolidation. Excludes repair/maintenance emissions (assumed customers source original spare parts). DDE digital services have insignificant downstream impact (data stored/deleted by clients) and are excluded from Scope 3 reporting.
• Category 12 (End-of-life treatment of sold products): Weight of materials (main materials, batteries, packaging: plastic, cardboard, wood) in unit products multiplied by quantities sold.
• Categories 13–15: Not applicable or no historical data.

Total GHG emissions

2024 emissions breakdown by scope (% of total, location-based):

• Scope 1: 0.2%
• Scope 2: 1.3%
• Scope 3 upstream: 36.7%
• Scope 3 downstream: 61.8%

Scope 3 represents ~99% of total emissions in 2024.

GHG intensity

Net segment revenue used as denominator (see Note 19, 2024 Consolidated Financial Statements).

Biogenic CO2 emissions

Not separately disclosed.

Regulated emissions

0% of Scope 1 emissions are from regulated emission trading schemes.

Baseline and targets

Baseline year: 2019 (pro-forma, excluding divested seismic acquisition business). Scope 1 & 2 baseline: 58 kt CO2eq (2,224 t Scope 1 + 54,444 t Scope 2 location-based, excluding acquisition activity).

2030 target: Reduce Scope 1 & 2 emissions by 50% in absolute terms vs. 2019 baseline (to ~29 kt CO2eq).

2050 target: Achieve net zero (carbon neutrality) for Scope 1 & 2 emissions.

Scope 1 & 2 emissions decreased by ~30% in 2024 vs. 2023 (from 24 kt CO2eq to 16.3 kt CO2eq). The company states it is on track to reduce Scope 1 & 2 by ~80% by 2030 vs. 2019, overachieving the 50% target.

No baseline, targets, or quantitative commitments for Scope 3 have been set as of 2024. The company states it will validate Scope 3 strategy with the Board Sustainability Committee and set 2030/2050 ambitions in 2025.

Methodology and scope

Reporting framework: GHG Protocol.

Consolidation boundary: Aligned with financial consolidation scope. Covers Viridien SA (parent) and all subsidiaries under control.

Emission factors: Detailed in Appendix 4 of the URD (not reproduced here). Key sources include:

• Scope 1: Country-specific fuel emission factors.
• Scope 2 location-based: Country-specific grid emission factors from Carbon Footprint (Sept 2024 release).
• Scope 2 market-based: Renewable electricity = zero emissions (backed by RECs and green contracts).
• Scope 3: Mix of physical data, supplier-provided data (rare), and monetary emission factors.

Exclusions and limitations:

• Scope 3 Category 11 (Use of sold products): Digital services from DDE segment excluded due to insignificant impact (data storage/deletion by clients with no further processing). Only SMO physical products included.
• Scope 3 Categories 8, 13, 14, 15: Not applicable to business model.
• Scope 3 Category 6 (Business travel): Visitor travel not yet monitored except for SMO.
• Scope 3 data quality: Heavy reliance on monetary emission factors (80% for Category 1). Estimates and assumptions used for product use (Category 11) based on assumed lifespan and usage patterns.

Changes from prior year:

• Refrigerant gas leakages added to Scope 1 from 2023 onwards.
• Purchased heat added to Scope 2 from 2023 onwards (SMO Xu Shui site, China).
• Scope 3 expanded from 2022 to include downstream emissions (Categories 9, 11, 12) for SMO products.

Comparability: 2023 total emissions: 1,016 kt CO2eq. 2024 total emissions: 1,094 kt CO2eq (+8% year-on-year), driven by Scope 3 increase (Scope 1 & 2 decreased by >30%).

Note on transition plan: The company states it is currently defining its transition plan per ESRS E1-1. In-depth work on Scope 3 identification and quantification began in 2023. The plan will be strengthened and extended in 2025 to integrate the entire carbon footprint.

Carbon neutrality approach: No GHG removals or carbon credits used. Strategy focuses on direct emission reductions through operational improvements, energy efficiency, renewable energy transitions, and supply chain engagement.

Internal carbon pricing: Not implemented as of 2024.

Policies related to own workforce

Viridien discloses several policies and frameworks relevant to its own workforce under ESRS S1-1, though no single comprehensive "own workforce policy" is explicitly named.

Code of Business Conduct (CBC)

• Scope: All employees and subcontractors working for the Group
• Governance: The Code explicitly mentions that each subcontractor working for the Group must comply with the CBC
• Key content: Covers three main areas:
  • Protecting employees and the environment
  • Protecting business and its reputation
  • Protecting assets and information
• International standards linkage: The CBC clearly inscribes the company's commitment to respecting and promoting human rights on a global basis. Viridien recognizes and adheres to the ten principles of the United Nations Global Compact
• Public availability: Not explicitly stated in the excerpts

Ethics Policy

• Key content: Important statement of commitments that all employees must make regarding business ethics. Complements the Business Conduct Code, outlining ethical expectations in terms of protecting employees and the environment, safeguarding business and its reputation, and securing assets and information
• Governance: Managed through the dedicated Ethics Committee (five members from HR, Earth Data, Geoscience, Sensing & Monitoring business lines, and the Group compliance officer) and the Compliance Department. The Ethics Committee meets every six weeks and reports regularly to the Executive Leadership Team, CEO, and Audit Committee at least annually
• Monitoring: Workshops and presentations on the Code of Business Conduct and Ethics Policy organized throughout 2024 for business lines, support functions, and country managers. Six mandatory e-learning modules for all employees (repeated annually) covering topics including trade compliance, harassment, anti-corruption, and information security

Health and Safety Management System

• Scope: 100% of own workforce and contractors under direct prevailing influence are covered when working in any capacity including office, home, or business travel
• Key content: Addresses physical and mental health concerns from working conditions, potential accidents, and security challenges. The system meets legal and recognized standards and guidelines within each location, complying with OSHA standards and EnerGeo Alliance guidelines
• Monitoring: HSE statistics monitored and published. Individual HSE objectives rolled out to all employees
• Mitigation measures include:
  • Implementation of workspace/task specific ergonomics program
  • Regular reviews of conditions and risks at various sites with action plans
  • Health and wellness training on fatigue and stress management
  • General HSE training for all employees and specific advanced training for HSE specialists

Risk Management System

• Key content: Processes and working practices to manage risks across the organization at all levels, across all business lines and support functions. Risk management fully integrated in decision-making processes
• Governance: Managed by the Director of Risks Management and Insurance, who reports to the Finance and Legal organization. Principles consistent with professional standards (COSO ERM, ISO 31000, AMF)
• Process: Identifies, assesses, and controls risks including impacts on people, health and safety, environment, finance, compliance with laws and regulations, and reputation

ISO Certifications (SMO division)

• Scope: All SMO operational sites are ISO 9001 certified, with objective to move all sites to integrated management system by 2025
• Key content: Quality (ISO 9001), environment (ISO 14001), and energy (ISO 50001)
• Implementation status: St-Gaudens (France) and Junfeng (China) ISO 14001 certified in 2023; DeRegt (Netherlands) in January 2024; Nantes (France), Sercel Inc., and Concept (United States) certification in progress for 2025. ISO 50001 in progress for Nantes, St-Gaudens, Sercel Inc., and Junfeng

Training and Development

• Monitoring: 96% of employees completed mandatory anti-corruption and ethics e-learning modules as of December 31, 2024
• Exposed personnel: 283 employees identified in high-risk activities (Supply Chain Management, Sales, Marketing & Customer Support, Procurement, Logistics, Business Development); 271 completed anti-corruption training (96%)
• Additional training: 24 training sessions/workshops on topics such as conflict of interest prevention; 2 dedicated workshops for Country Managers on compliance program, facilitation payments, gifts and entertainment

Characteristics of the undertaking's employees

Total Headcount and FTE

As of December 31, 2024:

• Total headcount: 3,378 employees
• Prior year (December 31, 2023): 3,515 employees

Note: FTE (Full-Time Equivalent) data is not separately disclosed. Headcount figures are based on regular and fixed-term employees as of December 31, 2024, including employees not on Leave of Absence. Apprentices, paid interns, and contingent workers are generally excluded. Only active employees are included.

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Headcount by Gender

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Headcount by Region

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Headcount by Country (countries with >50 employees representing >10% total)

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Headcount by Employment Contract Type

Note: Full-time vs part-time breakdown is mentioned but data rows are not provided in the excerpt.

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Headcount by Age Group

Average age of employees: 43 years (consistent in 2023 and 2024)

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Headcount by Business Activity

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Employee Turnover

Note: Turnover rate is calculated by dividing the number of employees who left by the average headcount at the start (December 31, 2023) and end (December 31, 2024) of the period. Voluntary turnover excludes retirements and lay-offs.

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New Hires

Specific data on number or rate of new hires is not disclosed in the provided excerpts.

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Additional Metrics

Note: Seniority calculated as total years of service at Viridien as of December 31, 2024 divided by headcount.

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

Methodology

The disclosure covers characteristics of non-employee workers in Viridien's own workforce. The methodology for counting includes:

• Active employees only: Regular employees working a regular schedule year-round, excluding employees on Leave of Absence as tracked in the absence system based on status on the last day of the month
• Exclusions: Apprentices, paid interns, and contingent workers are generally excluded
• Inactive employees: Not expected to return but cannot be removed from records due to local legal requirements are excluded
• Key characteristics: Non-employees are defined as self-employed contractors and contingent workers

Non-employee workforce metrics

The document references contractors in health and safety reporting but does not provide comprehensive headcount or breakdown metrics for non-employees.

Health and safety coverage

100% of own workforce and contractors under direct prevailing influence are covered by the health and safety management system.

Contractor safety metrics (2024)

Note on frequency rates: Calculated per one million hours worked according to OSHA standard and EnerGeo Alliance guidelines.

Value chain workers

The document notes that Viridien uses subcontractors for seismic data acquisition:

• Earth Data (EDA) business utilizes resources of sub-contractors to acquire seismic data
• Geoscience processes seismic data acquired through 3rd party contractors
• All offshore seismic campaigns sponsored by Viridien are carried out by subcontractors in compliance with environmental regulations

No quantitative breakdown by type (contractor vs agency vs self-employed) or headcount/FTE totals for non-employees is provided.

Collective bargaining coverage and social dialogue

Collective Agreements

Viridien signed several Collective Agreements in some of the countries where we operate whenever it was feasible or required by law.

• Singapore: Collective Agreement with the union valid until 31 December 2024 that covers most of the element of the employee handbook (Grievance and termination Procedures, General terms and conditions of employment, salary negotiation, flexiwork and benefits)

• North Wales (UK): Recognition Agreement with the union UNITE which covers all employees at our North Wales establishments that includes Consultation, negotiation and agreement on all changes to terms and conditions – pay and benefits, policies, etc. for all employees in the bargaining unit

• Brazil: Union Agreement established yearly between Viridien and Sindaut. The agreement covers Salary negotiation and local benefits

• Netherlands: Employee handbook agreed with union that covers most of the employer to employee contractual relationship

• France (for Viridien SA, CGG Services SAS and Sercel SAS): Collective agreement signed with the union, it includes all rules applicable to the employment contract, remuneration and the termination of the employment contract. In 2024, agreements were also negotiated for remote working, the protection and management of intellectual property, salary increase for 2024, healthcare scheme evolution and in the case of Sercel SAS workforce planning and adjustments. For all French entities, there are specific agreements with regards to working hours and flexi-work, benefits, company savings plan and retirement savings plan, rules for the organization of election governing the work council, gender equity, jobs and career path management, and profit sharing.

As of 31 December 2024, 45% of our employees worldwide are covered by a Collective Agreement or equivalent.

We do not require any agreement with our employees for representation by a European Works Council (EWC), a Societas Europaea (SE) Works Council, or a Societas Cooperativa Europaea (SCE) Works Council.

Coverage Rates by Geography

Metrics Summary

Diversity metrics

Gender split at top management level

As of 31st December 2024:

Methodology note: Top management level includes all male and female employees in managerial roles and above, such as: Managers at varying levels, Directors, Vice Presidents, Senior Vice Presidents, and the ELT. It excludes individual contributors.

Board and Executive Leadership Team composition

Board of Directors: As of 31st December 2024, out of the eight members of the Board of Directors (the Director representing employees not being included in this calculation), four Directors are women.

Executive Leadership Team (ELT): The gender distribution in the Executive Leadership Team stands at 27% female as of 31st December 2024.

Gender diversity in top 10% of positions with highest responsibilities

• 2024: 25% women (representing 14.5% of total headcount)
• Target for 2025: 25.5% women (set by the Board of Directors in November 2021)

Age band distribution of total workforce

As of 31st December 2024:

Total employees: 3,378 (compared to 3,515 in 2023)

Overall gender split

Gender split (M/F): 70% / 30%

Adequate wages

Viridien affirms its commitment to ensuring that all employees are paid an adequate wage that meets or exceeds local minimum living wage standards and complies with applicable laws and regulations.

The company's remuneration policies are designed to support a fair standard of living, recognizing the diverse geographic and economic contexts in which it operates. Regular reviews of wage structures are conducted to ensure alignment with living wage benchmarks and to address evolving economic conditions.

Viridien confirms that all its own employees, defined as regular and fixed-term employees, receive a fair minimum wage in accordance with local applicable legislations.

Coverage

No specific percentage or proportion of workforce assessed against living wage benchmarks is disclosed.

Geographic scope

Global operations, recognizing "diverse geographic and economic contexts."

Benchmark used

The disclosure references "living wage benchmarks" and "local minimum living wage standards" but does not specify which external benchmark, methodology, or standard is used (e.g., Fair Wage Network, Anker Methodology, WageIndicator, etc.).

Targets and commitments

No forward-looking targets or commitments disclosed.

Methodology

No methodology details disclosed regarding how living wage is calculated, frequency of reassessment, or whether contractors are included.

Persons with disabilities

Global disclosure

Viridien is currently not tracking disability as a global metric. During the implementation of Workday, the decision was made to track only gender indicators at Group level, allowing each country to determine which additional metrics—such as disability—should be tracked based on local regulations.

Historically, absenteeism was the primary indicator used to monitor disability related absences and overall sick time off to define whether the employee should be put under paid/unpaid leave.

France-specific metrics

Employees with RQTH status (Recognition of the Status of Disabled Worker):

Methodology: Calculated using headcount at 31st December 2024 of the corresponding entities. Based on employees granted official RQTH (Recognition of the Status of Disabled Worker) status.

Disability policy and initiatives

Viridien mobilizes and raises awareness of disability among all employees through mandatory IDEA training to create a climate of trust conducive to the integration and development of employees with disabilities.

France-specific initiatives:

• Regular follow-up with each person with a disability to assess work situation and adjustments (organizational or material aspects)
• Questionnaire at Sercel supplemented by interviews
• Workstation adaptations with support from dedicated organizations (CapEmploi/Sameth)
• Accessibility adaptations during premises moves in Massy
• Subcontracting with protected and adapted environment companies (ESAT/EA)
• Fundraising events for LADAPT, a French association promoting social integration for people with disabilities

Training and skills development metrics

Average training hours per employee

By gender:

• Female employees: 7 hours annually
• Male employees: 9 hours annually

By employee category:

• Individual Contributors: 8.5 hours
• Team Leads: 5 hours
• Supervisors: 10 hours
• Managers and Directors: 6 hours
• Vice Presidents/Senior Vice Presidents: 11 hours

Note: These training hours are inclusive of conference attendance.

Performance and career development reviews

In 2024, a large majority of Viridien's own employees, including new hires regardless of their start date, had a minimum of one performance review. The company notes that it is currently unable to formally confirm an accurate completion rate based on the available data. With the full benefit of the new HR management system deployed globally in 2025, the company expects to generate more consistent performance metrics moving forward.

Performance Management focus areas:

• Work Life Balance
• Highlights (recent achievements and progress)
• Lessons Learned (strengths and opportunities for improvement)
• Future Focus (short and long-term development)

Employees and managers may initiate a performance discussion at any time, with the organizational expectation of a minimum of one each year for the annual performance review.

Health and safety metrics

Consolidated Group Metrics (2024)

Own Employees Metrics (2024)

Contractors Metrics (2024)

Notes:

• (a) Number of recordable cases (FAT: fatality, LTI: lost time injury, RWC: restricted work case, MTC: medical treatment case) per million exposure hours.
• (b) The number of lost time injuries (including FAT) per million exposure hours.
• (c) Number of lost workdays per thousand exposures hours.
• (d) Total number of hours of employment but excluding leave, sickness and other absences. (160 hours per person per month).
• (e) Does not include an incident in France with 38 days off, outside working hours during a non-compulsory recreational event on the sidelines of a management seminar, classified as not work-related.

Coverage

100% of own workforce and contractors under direct prevailing influence are covered by the health and safety management system when working in any capacity including the office, home, or on business travel. This coverage extends to meeting legal and recognized standards and guidelines within each location. The HSE statistics monitored and published comply with industry standard according to Occupational Safety and Health Administration (OSHA) standard and the EnerGeo Alliance guidelines.

Methodology

The calculations used in frequency rate KPI's (Total Recordable Case Frequency rate and Lost Time Injury Frequency rate) define applicable cases and incidents per one million hours worked. This rate is calculated globally and at business line and site level.

Work-related ill health incidents cover acute, recurring, and chronic health problems caused or aggravated by work conditions or practices. These include musculoskeletal disorders, skin and respiratory diseases, malignant cancers, diseases caused by physical agents (for example, noise-induced hearing loss, vibration-caused diseases). Where local legislation requires mental illnesses will also be recorded (for example, anxiety, post-traumatic stress disorder). Disclosures include case examples outlined in the ILO List of Occupational Diseases.

Work-life balance metrics

Not disclosed.

Viridien's sustainability statement indicates that ESRS S1-15 (Work-life balance metrics) reporting may be delayed until the 2025 reporting year, as noted in the ESRS disclosure index. No quantitative data on family-related leave entitlements, uptake rates by gender, or return-to-work rates after parental leave are provided in the 2024 Universal Registration Document.

The company references work-life balance as a focus area in its Performance Management framework and mentions an Employee Assistance Program (EAP) that provides support on topics including child or elder care, but no metrics related to family-related leave are disclosed.

Compensation metrics

Pay gap

Gender pay gap: 12.33% (2024)

The gross hourly pay was calculated by dividing each employee's annual salary by the total hours worked. The data was then normalized to a common currency using the applicable exchange rates, taking into account the entire workforce across the organization based on headcount as of December 31, 2024, not excluding leave of absence. The average gross hourly pay for all employees, excluding the CEO, is USD 34.99.

The CEO has been excluded from the key performance indicator, as the company considers it could bias the percentage.

Remuneration ratio

Annual total remuneration ratio (highest paid individual to median): 32:1 (2024)

The compensation components used to calculate the total annual remuneration ratio for all employees (based on headcount as of December 31, 2024, not excluding leave of absence) are defined as follows:

• Annual salary: total base salary paid to employees
• Annual bonus: bonus and incentives paid to employees in 2024
• Benefits Markup: the additional cost to the employer for benefits in kind, health insurance, etc., estimated country by country
• LTI: long-term incentive issued as Performance Shares (PSUs), Restricted Shares (RSUs) and Long-Term Cash
• Fair Market Value: valuation of shares based on external accounting calculation

Total remuneration calculation formula:

(Annual salary in USD + Annual bonus paid in 2024) × (1 + Benefits Markup) + LTI (PSUs+RSUs) × Fair stock value) + Long-Term Cash

Using the above total remuneration elements and calculation methodology, the resulting total annual remuneration ratio for all employees (excluding the highest paid individual) is 32 in 2024.

Methodology

The gender pay gap is calculated using the gross hourly pay method, with data normalized to USD. The CEO is excluded from the calculation to avoid bias.

The remuneration ratio calculation includes fixed and variable pay, benefits markup, and long-term incentives valued at fair market value. The highest paid individual (CEO) is excluded from the denominator (all employees).

Incidents, complaints and severe human rights impacts

Reporting mechanisms

Viridien has established reporting channels and mechanisms for addressing misconduct. Employees are encouraged to report incidents of discrimination, harassment, or any other inappropriate behavior through confidential Ethics Hotlines and emails to the ethics committee. These channels are supported by clear ethics committee protocols for investigating and resolving issues promptly, ensuring that individuals feel safe and empowered to speak up.

Viridien encourages the use of EthicsPoint Hotline, hosted by NAVEX Global, an independent specialized third-party service provider. Via EthicsPoint Hotline, employees may file a confidential concern at any time – 24 hours per day, 7 days per week, 365 days per year. Exchanges remain confidential and anonymous. All alerts are managed on a confidential basis and in conformity with applicable laws.

In the event an employee has a violation or concern to report, they have multiple avenues available: their Line Management, Human Resources Representative, internal Legal Counsel, Country Manager, VP Group Compliance Officer and/or any member of the Ethics Committee.

Metrics (2024)

Value chain workers

Prevention and detection of corruption and bribery

Viridien is committed to complying with all applicable national and international laws and regulations regarding the conduct of business in the countries in which it operates. The company encourages a culture of trust and honest communication where inappropriate behavior is not tolerated and where doing the right thing also means reporting violations and/or concerns.

Code of Business Conduct

Scope:

• All employees across the organization
• Upstream operations, operations, and downstream activities

Key content / principles:

• Employees can report violations of the Code of Business Conduct confidentially or anonymously through the EthicsPoint hotline (whistleblowing platform)
• The platform provides web intake and telephone line available 24/7, 365 days a year in 10 countries and 10 languages
• Guidelines cover compliance topics including anti-bribery, preventing conflicts of interest, business partner due diligence, facilitation payments, gifts and entertainment, political donations and charities

Public availability:

• A dedicated Compliance page is available to all employees on the Group's internal website (InTheLoop) with access to all compliance resources, policies and procedures

Governance and oversight:

• Ethics Committee oversees alignment of compliance modules across departments
• Compliance Department supports all functions and employees in daily activities

Monitoring implementation:

• Mandatory anti-corruption e-learning: 96% completion rate as of December 31, 2024
• Mandatory ethics e-learning: 96% completion rate as of December 31, 2024
• 283 employees identified as exposed to corruption risks based on high-risk job families (Supply Chain Management, Sales, Marketing & Customer Support Management, Procurement and Purchasing, Logistics, Business Development, and Sales)
• 271 of 283 exposed employees (96%) completed anti-corruption training in 2024
• 24 training sessions/workshops on dedicated topics such as preventing conflicts of interest
• 2 workshops for Country Managers focused on compliance program, facilitation payments, gifts and entertainments
• Nine communications sent to all employees in 2024 on ethics and compliance topics (data privacy, anti-corruption, third party screening, Ethics Committee composition, EthicsPoint hotline)
• Key Risk Indicators (KRIs) defined and monitored through digitalized tool for continuous measurement of effectiveness

Anti-corruption risk map

Key content / principles:

• Identifies, assesses, and prioritizes potential corruption and influence-peddling risks across operations and activities
• Developed and maintained in compliance with Sapin II law (France)
• Anti-corruption risk matrices developed for each Business Line and consolidated at Group level
• Matrices in digitalized format (software application) to facilitate reporting to Management and follow-up of action plans
• Scenarios reviewed and updated in 2024 with contribution from Business Lines and support functions stakeholders

Governance and oversight:

• Compliance Department leads development with Business Lines, Finance teams, internal control, Group internal audit and enterprise risk management (ERM)

Links to international standards:

• Compliance with French Sapin II law requirements

Monitoring implementation:

• Key Risk Indicators (KRIs) keyed into digitalized tool for continuous monitoring and measuring effectiveness of actions, policies and procedures
• Zero convictions for violation of anti-corruption and anti-bribery laws (2024)
• Zero fines for violation of anti-corruption and anti-bribery laws (2024)

Incidents of corruption or bribery

Confirmed incidents

Viridien confirms that during the reporting period (2024), there were no reported incidents of corruption or bribery within the organization's operations.

Convictions and fines

No sanctions or convictions have been handed down against Viridien during the reporting period.

According to the sustainability metrics disclosure:

Disciplinary actions

Not disclosed.

Contracts terminated

Not disclosed.

Investigation and speak-up procedures

Viridien maintains robust mechanisms for reporting and investigating potential violations:

Reporting channels:

• Employees may report violations or concerns through multiple avenues: Line Management, Human Resources Representatives, internal Legal Counsel, Country Manager, VP Group Compliance Officer, and/or any member of the Ethics Committee
• EthicsPoint Hotline: An independent third-party platform (hosted by NAVEX Global) available 24/7, 365 days per year, allowing confidential and anonymous reporting in 10 countries and 10 languages
• Both web intake and telephone line are available

2024 reporting activity: In 2024, three work-related claims were reported to the Ethics Committee. The primary concerns involved conflicts of interest and human resources issues, including allegations of unfair treatment and harassment. All allegations were thoroughly investigated in accordance with internal procedures. After comprehensive review, the Ethics Committee concluded there were no findings of misconduct as no supporting evidence was found. Cases were subsequently closed with official reports and recommendations issued to involved employees, managers, and when appropriate, to the Executive Leadership team, CEO, or Audit & Risk Management Committee.

No fines, penalties or compensation for damages resulting from incidents and complaints were paid by the Company in 2024.

No violations or incidents with regards to Human Rights were reported to the Ethics Committee in 2024.

Anti-retaliation policy: Viridien's Code of Business Conduct explicitly prohibits retaliation in its "Speak Up" section, emphasizing that any form of retaliation against individuals who report concerns in good faith will not be tolerated and will itself constitute a violation of the Code. In 2024, the Chairman of the Ethics Committee delivered two presentations to workers' representatives on the committee's role and operations.

Political influence and lobbying activities

Political engagement approach

Viridien observes strict political and religious neutrality.

Viridien is committed to respecting the right of employees to express themselves and voice their opinions and their right to participate in public and political activities as citizens. However, employees shall state that they do not represent Viridien in their public or political activities, shall not commit Viridien's resources in support of political candidates or parties and shall refrain from taking part in any decision by a public agency or other government body regarding Viridien.

Political contributions and lobbying activities

The company confirms that Viridien does not engage in political influence or lobbying activities.

EU Transparency Register

Viridien is not concerned by the EU Transparency Register or any equivalent register.

Ethical standards and guidelines

The Supplier Code of Conduct includes guidelines on political donations and charities. This is part of the broader compliance framework that includes:

• Code of Business Conduct
• Preventing conflicts of interests guidelines
• Political donations and charities guidelines
• Gifts and entertainment policies

These resources are available to all employees on the Group's internal website (InTheLoop).

Payment practices

Viridien is committed to maintaining fair and transparent payment practices across operations and value chain. The company prioritizes timely payments to suppliers and business partners, adhering to agreed terms and local regulations. Regular monitoring of payment processes ensures compliance and fosters trust with stakeholders.

Average payment time

For the year 2024, the average payment term for suppliers was 35 days. Average payment term is based on the average delay in days between payment date and invoice date weighted by the total quantity of invoices, based on information entered in accounting information systems.

Standard contractual payment terms

Viridien does not have a standard payment term at Group level. However, 75% of payments are made as per the due date of the invoice.

Legal proceedings for late payment

Viridien has no outstanding legal proceedings for late payment in 2024.

Prompt payment code

No information disclosed regarding participation in a prompt payment code.

Metrics summary