ESG Leadership

• Maximise recycled content in manufactured products
• Ethically source raw materials and products
• Progressively reduce carbon footprint on a path to Net Zero by 2045
• Be a responsible neighbour, wherever we operate
• Minimise waste and usage of plastic packaging.

• Employee safety and welfare is always front of mind
• We will live and breathe our values without compromise
• A diverse business, where people can be their true authentic selves
• Excel at developing people, by nurturing talent and always seeking to promote from within
• Fair in the way that we reward and manage our people.

• Integrity is the cornerstone of our business
• Fully transparent in the way that we operate and report
• Receptive and responsive to challenge and scrutiny by key stakeholders
• Constantly evaluating and mitigating risks to protect the business
• Always have one eye to the future, in order to comply with new legislation and deploy best practice.

• Submitted targets to the Science Based Targets initiative (‘SBTi’). We submitted both near-term and long-term targets to SBTi covering Scopes 1, 2 and 3 emissions
• Published our Net Zero Transition Plan aligned to the Transition Plan Taskforce (‘TPT’) standards. We set out the underpinning initiatives that will drive carbon reduction across our business and plans to achieve these
• Maintained the percentage of recycled PVC in our products. In 2024 we achieved 32%, level with 2023. We have updated our medium-term target to 36%, to reflect higher forecast revenue growth in line with our five-year strategic plan, plus the expected availability of feedstock for our recycling plants
• Continued to invest in carbon reduction initiatives to minimise our environmental impact. Solar panels are now operational at our main extrusion site, plus installation of panels at our distribution centre begins shortly
• Enhanced our reporting against the recommendations of the Task Force on Climate-related Financial Disclosures (‘TCFD’). This includes refining analysis and supporting it with financial quantification where possible
• Submitted our first Climate Change questionnaire to the CDP. We are pleased to share we were awarded a B grade for Climate • Received an ‘AA’ rating from the MSCI. In 2024 Eurocell received a rating of AA (on a scale of AAA–CCC) in the MSCI ESG Ratings assessment
• Substantially enhanced employee engagement. We launched our internal communications framework (including the Eurocell and You monthly newsletter and CEO listening groups) and completed a much more comprehensive employee engagement survey with an external provider
• Pushed forward on Equity, Diversity, Inclusion and Belonging. We joined the Construction Inclusion Coalition and committed to the Built on Better Pledge.

Looking forward, our priorities are to:

• Obtain validation of our submitted science-based targets from the SBTi. In the meantime, we will commence implementation of the planned actions that support achieving our targets
• Focus on sustainability as part of our new product development programmes, looking to increase the development of low-carbon products to meet consumer demands
• Review and enhance our wellbeing framework to ensure that we better support the wellbeing of employees in line with their expectations
• Continue to engage with Maggie’s, our charity partner, that provides emotional support and care for cancer patients and their families.

There are no changes to our business that would require an updated materiality assessment. The five most important issues identified by our assessment are:

• Health and safety: ensuring workforce wellness and safety
• Labour and human rights: ensuring fair working practices for our employees including human rights
• Climate change and emissions: minimising our carbon emissions and our contribution to climate change
• Waste management: waste generated by our operations needs to be dealt with responsibly, including hazardous waste
• Product quality: selling products that are safe to use and of high quality.

We used these material topics to refine our ESG strategy in 2024 and monitor progress with appropriate KPIs and targets.

KPIs and targets

Since our base year of FY22, we have achieved reductions across all three scopes. Scope 2 market-based has seen the most significant reduction, due to sourcing renewable electricity across 95% of our electricity consumption (up from 72% in FY22). The Scope 1 reduction of 6.8% from FY22 was through reduction in our natural gas consumption. Reduced spending was the main driver of our Scope 3 reduction; however, we have also taken actions aligned with our transition plan to acquire supplier emissions data and purchase lower embodied carbon products which is reflected in our FY24 Scope 3 emissions.

Environmental – Circular economy and waste management

Environmental – Emissions, energy management and pollution

Social

^{Note: KPI performance data for 2023 and 2024 included in the table above is based on management estimates.}