S.L. 386.31 Art. 16Information referred to in regulation 15.

(1) The information referred to in regulation 15 shall contain:

(a) a brief description of the group’s business model and strategy, including:

(i) the resilience of the group’s business model and strategy in relation to risks related to sustainability matters;

(ii) the opportunities for the group related to sustainability matters;

(iii) the plans of the group, including implementing actions and related financial and investment plans, to ensure that its business model and strategy are compatible with the transition to a sustainable economy and with the limiting of global warming to one point five degrees Celsius (1,5°C) in line with the Paris Agreement and the objective of achieving climate neutrality by 2050 as established in Regulation

(EU) 2021/1119 of the European Parliament and of the Council of 30 June 2021 establishing the framework for achieving climate neutrality and amending Regulations

(EC) No 401/2009 and (EU) 2018/1999 (‘European Climate Law’) and, where relevant, the exposure of the group to coal-, oil- and gas-related activities;

(iv) how the group’s business model and strategy take account of the interests of the group’s stakeholders and of the impacts of the group on sustainability matters;

(v) how the group’s strategy has been implemented with regard to sustainability matters;

(b) a description of the time-bound targets related to sustainability matters set by the group, including where appropriate, absolute greenhouse gas emission reduction targets at least for 2030 and 2050, a description of the progress the group has made towards achieving those targets, and a statement of whether the group’s targets related to environmental factors are based on conclusive scientific evidence;

(c) a description of the role of the directors with regard to sustainability matters, and of their expertise and skills in relation to fulfilling that role or the access these directors have to such expertise and skills;

(d) a description of the group’s policies in relation to sustainability matters;

(e) information about the existence of incentive schemes linked to sustainability matters which are offered to the directors;

(f) a description of:

(i) the due diligence process implemented by the group with regard to sustainability matters, and where applicable, in line with Union requirements on undertakings to conduct a due diligence process;

(ii) the principal actual or potential adverse impacts connected with the group’s own operations and with its value chain, including its products and services, its business relationships and its supply chain, actions taken to identify and monitor those impacts, and other adverse impacts which the parent undertaking is required to identify pursuant to other Union requirements to conduct a due diligence process;

(iii) any actions taken by the group to prevent, mitigate, remediate or bring an end to actual or potential adverse impacts, and the result of such actions;

(g) a description of the principal risks to the group related to sustainability matters, including the group’s principal dependencies on those matters, and how the group manages those risks; and

(h) indicators relevant to the disclosures referred to in paragraphs (a) to (g).

(2) Parent undertakings shall report the process carried out to identify the information that they have included in the consolidated directors’ report in accordance with regulation 15. The information listed in regulation 16(1) shall include information related to short-, medium- and long-term time horizons, as applicable.

(3) Undertakings shall also include the disclosures required in terms of Article 8 of Regulation (EU) 2020/852 as regards information on how and to what extent the undertaking’s activities are associated with economic activities that qualify as environmentally sustainable.