Sustainability at OX2

Materiality analysis

During 202, we carried out a materiality analysis. The materiality analysis is a tool for understanding which sustainability topics are most relevant to us and our stakeholders. Sustainability topics are also monitored in part through participation in European and national industry organisations. Our first materiality analysis was carried out in 2018 and most of the topics deemed material at the time are still relevant. New material topics identified in this year’s materiality analysis were biodiversity and circular economy.

1 Reduced climate footprint and reduced emissions and discharges to land and sea Our core business of developing and selling largescale renewable energy projects contributes to reducing emissions. However, the establishment of a wind or solar farm is an intrusion into the environment. Emissions of carbon dioxide occur in the production phase and during the establishment of the farm.

5 Positive social engagement OX2 and our suppliers come as guests to the local communities where wind and solar farms are established. Creating dialogue and showing respect for those who live and work in the local community is of paramount importance.

9 Health and safety Establishing a wind or solar farm is a comprehensive process involving many people. There are risks for employees and suppliers’ employees linked to working at height, for example. Consequently, we provide information and takes preventive measures to reduce accidents.

2 Biodiversity Our expansion of renewable energy should not come at the expense of nature. We aim to minimise our negative impact on nature and to develop renewable electricity generation that creates significant climate benefits while also benefiting biodiversity.

6 Sustainable procurement In all supply chains there are risks related to factors such as human rights, corruption and the environment. It is important for us to identify these risks and work with suppliers to reduce or avoid them in the future.

10 Renewable energy generation Renewable energy generation is the basis of the product that twe offer our customers. OX2’ strategy is to grow on both existing and new markets. In addition, rapid expansion is also taking place in offshore wind power and solar power, alongside development in hydrogen and energy storage.

3 4 8 Sustainable leadership We has chosen to include the topics of employee conditions, (4) gender equality and diversity and (8) equal opportunities under the concept of sustainable leadership. OX2 is primarily a knowledge organisation that depends on its ability to attract and retain knowledgeable, skilled staff and therefore works actively to strengthen the organisation to create sustainable leadership.

7 Business ethics OX2 has zero tolerance of corrupt and unethical behaviour and conducts all activities in accordance with applicable laws and regulations.

11 Circular economy With the industry as a whole, we want to take responsibility for driving developments towards a circular economy. The company wants to take responsibility even where it has an indirect impact