GreenMobility

Environmental & Social Information • Mar 16, 2023

GreenMobility I To index

ESG & SUSTAINABILITY REPORT 2022

GreenMobility A/S I Landgreven 3, 4.sal I 1301 Copenhagen I Denmark I CVR-nr. 35 52 15 85

FACTS ABOUT THIS REPORT

GreenMobility's ESG and Sustainability report concerns the financial year 2022 and constitutes the second reporting on progress since the baseline was established in 2020.

This Sustainability Report forms part of the Management Review of GreenMobility's Annual Report 2022 and covers statutory reporting on corporate social responsibility as defined by section 99a, 99b and 99d of the Danish Financial Statements Act.

ESG PERFORMANCE HIGHLIGHTS

• Avoided emissions in 2022 2,036 tonnes CO2 (2020: 745 tonnes). •
• Launching business in Düsseldorf and Cologne in Germany with 300 new electric vehicles provide growth in avoided emissions in the European market. . •
• Significant optimisation of resources as we re-use 96% of a Zoe that cannot re-enter the fleet. •

SIGNATORY TO THE UN GLOBAL COMPACT

In 2020, GreenMobility A/S became a signatory to The United Nations Global Compact. We are pleased to show our continued support and renew our commitment to the UN Global Compact, its principles, and the Communication of Progress 2022.

TABLE OF CONTENTS

Contents

ABOUT THE REPORT	2
GREENMOBILITY AT A GLANCE	4
LETTER FROM THE EXECUTIVE MANAGEMENT	6
CORPORATE PURPOSE, MISSION, AND VISION	7
HIGHLIGHTS OF THE YEAR	8
BUSINESS MODEL	9
GREENMOBILITY -SUSTAINABLE COMPANY	11
The Benefits of Shared Mobility	12
Avoided emissions	12
Our car fleet	13
Why we have chosen Renault as
our current supplier of cars	13
Life cycle analysis of the cars	14
ESG GOVERNANCE	15

ESG STRATEGY	17
The ties between our business strategy and sustainability	17
Environmental Aspects	18
Social Aspects	18
Governance Aspects	18
Supplier's Code of Conduct	19
Stakeholder engagement	19
Materiality Assessment	20
Material issues and how they relate to UN's 17 Sustainable Development Goals	21
Our sustainability Agenda	22
Track 1. Adapting to the green transition	23
Track 2. Responsible business conduct	26
Our sustainable business goals	28
ESG initiatives and plans for 2022	29

ESG STATEMENT- PERFORMANCE AND PROGRESS 31 Notes on the ESG statement 32

UN Global Compact Principles 36

WHO WE ARE

GreenMobility aspires to create cities with fewer cars, less noise, and zero emissions. We seek to change urban mobility for the benefit of current and future generations. We do this by expanding our electric carsharing service to European cities, with the aim of reducing the use of privately owned vehicles, contribute to cleaner urban air, and reduce carbon emissions from the transportation sector.

GreenMobility was established in 2016. We are headquartered in Copenhagen and listed on NASDAQ Main Market Copenhagen

OUR CAR FLEET

.

Our car fleet currently consists of 1600 fully electric vehicles (passenger cars and cargo vans). All cars are owned or leased by us. Renault is our sole supplier due to their solid position with respect to electric vehicles and their strong commitments to sustainability.

KEY FIGURES	2022	2021
Revenue (DKK'000)	97,310	62,414
Operating result (DKK'000)	(70,032)	(48,922)
Customers	224,611	158,604
Trips	1,090,755	893,053
EV Fleet	1,600	1,037
Cities	11	11
Avoided CO2 emissions (tonnes)	2,036.00	1,352.64

Gent

BUSINESS HIGHLIGHTS 2022

• Finalized the acquisition of Fetch Mobility B.V. in the Netherlands and migrated it into its own platform in Q2 •
• Renewing the fleet in the Netherlands •
• Launch in Düsseldorf and Cologne, Germany, with 300 new electric vehicles. •
• The existing fleet in Helsinki, Finland, was replaced and increased to 150 new electric vehicles •
• The existing fleet in Sweden was replaced and increased to 200 new electric vehicles •
• Avoided CO2 emissions 2,036 tonnes

.

LETTER FROM THE EXECUTIVE MANAGEMENT

Sustainability is at the heart of what we do. Our greatest sustainability impact, and core to our purpose as a com pany, is the decarbonisation of global mobility. By offering an on-demand free-float carsharing service of entirely electric vehicles, we impact the environ ment favorably on a variety of pressing challenges that cities are facing today. Namely, our three pillars Urbanization, Sustainability and the Sharing Economy as we were founded upon and remains to this day as important as ever. Utilizing our electrical fleet of cars, we strive to improve mobility in cities through shared use of our resources.

During 2022, GreenMobility increased the fleet to approximately 1,600 electric vehicles for an even greater impact to our customers and the cities we oper ate in. All the trips in 2022 ensured avoided emissions of 2,036 tonnes of CO 2 emission (based on substituting ICE transportation by EV transporta tion) and our goal is saving more than 20,000 tonnes of CO 2 emissions by the year 2030.

We stay committed to our long-term aspirations of being an industry leader in European carsharing. This will include the continued growth in our existing markets as well as expansion to new markets in both existing and new coun tries when the opportunities and market are right. Our aspirations remain the same, being a responsible organisation with values that reflect accountability, transparency and above all, a strong determination and dedication to pull our weight in the green transition of transportation and deliver a substantial footprint we can be proud of. We want to make a lasting change, while creat ing value to our shareholders. This also mean we respect the trust of our inves tors and scale the company according to external factors and financial market developments.

In 2022, we have extended the meas urement and reporting efforts, among other things, by incorporating Scope 3 emissions. In 2023, we will further expand the Scope 3 calculations from production of the cars through to their end-of-life treatment. We will as well continue the work on the calculations to be reliably enough to estimate the effect of car-sharing and substitution of pri vately owned cars of avoided emissions.

We continue our commitment to UN Global Compact's principles supporting UN's Sustainable Development Goals (SDGs) and being a truly sustainable company in everything we do. For us, sustainability is about taking responsi bility for the world we live in and about being a front runner among carsharing companies in our sustainability commit ment. Our Sustainability Report covers statutory reporting on cor- porate social responsibility as defined by section 99a, 99b and 99d of the Danish Financial Statement Act. We will continue to develop our strategy and to be fully transparent about our sustainability.

With green regards, Anders Wall Group CFO & Head of ESG

CORPORATE PURPOSE, MISSION, AND VISION

Our purpose is to provide an on-demand mobility platform of the highest quality in terms of our value proposition and the service we provide, while generating value for our stakeholders.

MISSION

Our mission is to make urban car transportation cleaner, more accessible, affordable, and flexible, while providing significant benefits to cities and their inhabitants by way of reduced private car ownership and reduced air pollution. We aim to offer a mobility solution for both individuals and companies that is in accordance with their climate awareness and conscientious environmental choices. Also, our mobility solution serves as an equalizer in urban society, as cars and vans are made more attainable for those less resourceful in an array of ways.

VISION

Our vision is to create more liveable and less congested urban areas and to become the leading provider of green shared mobility in this endeavour.

Here are some of the initiatives we want to highlight from 2022 which underpins our commitment to society and the environment:

In the beginning of the year we finalized the acquisition of Fetch Mobility B.V. in the Netherlands

Electric car sharing

April:

Fetch Mobility B.V was migrated into its own platform and the fleet was renewed.

May:

Launch in Düsseldorf and Cologne in Germany with 300 new electric vehicles which marked the company's 10th and 11th operational city.

June:

The existing fleet in Helsinki, Finland, was replaced and increased to 150 new electric vehicles.

The fleet in the Netherlands increased with 150 new electric vehicles.

July:

The existing fleet in Sweden was replaced and increased to 200 new electric vehicles.

The total fleet is now 1600.

December:

All the trips in 2022 ensured avoided emissions of 2,036 tonnes of CO2 emission (based on substituting ICE transportation by EV transportation)

Supplier of cars Production of cars and transportation to destination

Supplier of parts

Extraction of raw materials

Provider of electric car-sharing

Assets and operational activities

• Owned & leased car fleet 100% electrical •
• GreenMobility App (cloud-based solution) •
• Crew of local technicians and mechanics to maintain and repair car fleet •
• Crew of local staff to clean and recharge cars •
• 24/7 Customer Services •
• Corporate Staff functions •

Recharging of the cars / electricity consumption

Supplier of Electricity

GreenMobility is a great al ternative to car ownership

GreenMobility I To index

10

GreenMobility user, 2022

the noble mission to make urban car transportation cleaner, more accessible, affordable, and flexible, while providing significant benefits to cities and their inhabitants by way of reduced private car ownership, reduced air pollution and positive climate impact amongst other benefits. The green profile of GreenMobility was recognised by the Danish Green Investment Fund who provided a loan of DKK 100 million in 2021 to fund the company's European growth plans. The Danish Green Investment Fund is an independent state loan fund with the purpose of co-financing economically viable projects that facilitate and support the sustainable development of society.

According to the European Environment Agency (EEA), transportation generates 27% of EU's total CO2 emissions, with cars and vans representing more than two thirds of these. Passenger cars alone account for 41% of transport related emissions, or 11% of the total. This makes transport Europe's biggest source of carbon emissions.

As populations and people's mobility needs continue to grow, the automotive industry's role in greenhouse gas reduction has become very important throughout the entire life cycle of the car.

Positive Impact f rom our business model	Negative Impact f rom our business model
Reducing air pollution	Electrical vehicle production
Reducing noise pollution	Lithium extraction
Reducing the need for	Cobalt extraction
private car ownership and parking lots	Other metals extracted to produce the batteries
Reducing the need for	Aluminium
fossil fuels	Plastic
Increasing awareness about electric vehicles	Water usage
Sourcing from sustainable suppliers	Mobility service and car usage
Promoting extension of the charging infrastructure	Energy usage for Cloud services and App use
Innovating urban mobility patterns	Air pollution from car tyres
Affordable driving	Use of electricity (only partly renewable depending on location)

GREENMOBILITY - A SUSTAINABLE COMPANY

THE BENEFITS OF SHARED MOBILITY

Economy based on sharing and trust has become a widespread and mainstream trend. When people find ways to put societal resources to use that would otherwise stand idle or be disposed of, it makes not only good socio-economic sense, but also provide more people with access to enjoy such resources, like mobility among other things.

First, shared mobility upgrades quality of life in cities influenced by congestion and pollution. With cities growing more and more, curbing the negative effects of urbanization by making cities more liveable through shared mobility and fewer privately owned cars has a real social impact. Cleaner air, less noise, more spaces for green areas and hassle-free parking are markers of improved city life and social benefits. Second, easy, accessible, and affordable shared mobility saves time and money for the individual. Households can gain or maintain access to vehicles without bearing the full costs of car ownership.

For low-income households, students, etc., shared mobility enhances equality

in society by facilitating a mid-range distance connection and a last-mile option for the public transportation segment. As a result, those who opt for sharing rather than owning increase their purchasing power elsewhere in society.

As a relatively new mode of urban transportation, shared mobility provid- ers challenge the established players and thereby amplify the competition and efficiency in the entire trans- portation industry for the benefit of consumer satisfaction.

In order to promote the green mobility agenda, we are in regular contact with policymakers, regulators and other relevant stakeholders. We generally experience considerable support, which has materialised in reduced costs relating to shared mobility in European city centres, such as reduced parking fees, subsidies, and favourable infrastructure conditions for carsharing and EVs. It requires considerable efforts to secure support from local authorities and to getting approval to operating a car fleet locally.

AVOIDED EMISSIONS

It is estimated that GreenMobility contributed to Avoided Emissions in 2022 of 2,036 tonnes CO2 stemming from the substitution of ICE vehicles by electrical vehicles (2020: 775 tonnes).

The caveat to the increased use of electrical cars is that the production of the cars, and especially production of the batteries, are very energy intensive processes, due to the use of electricity from fossil fuels throughout the value chain, and the complicated process of extracting strategic raw materials such as cobalt and lithium. Nevertheless, life cycle analyses provided by our car supplier, Renault Group shows a significant net positive impact from electric cars compared to conventional cars (ICE). This is the most significant negative climate impact related to GreenMobility's business model. Thus, selecting sub suppliers with high environmental standards and ambitious climate targets is very important for us. We describe the climate impact related to our car fleet on the following two pages.

GREENMOBILITY - A SUSTAINABLE COMPANY

OUR CAR FLEET

Why we have chosen Renault as our current supplier of cars

At GreenMobility, we only have 100% electrical vehicles (EVs) and we have chosen the Renault Group as our sole car supplier.

Our current (2022) fleet contains 1,600 EVs in total encompassing the models Renault Zoe, Megane and Polestar (reg ular cars) and Renault Kangoo (van).

Our main model ZOE has been designed as an electric car from day one. It means that it doesn't have the design compromises that come with adapting conventional models. ZOE is designed and manufactured in France and has a lot of environmen tally friendly features. As an example, it is made of 90% recyclable material and the interior fabrics are made of 100% recyclable materials.

Renault is a reputable supplier with a strong ESG track record and the Group has set ambitious and Science Based Targets for contributions to carbon emission reductions, with the aim to achieve carbon neutrality in Europe by 2040 and worldwide by 2050. Renault

Group was the first full-line carmaker to embrace the all-electric car and the first carmaker to integrate circu lar economy into its entire value chain. Off the road, they have developed a pathway to decarbonizing operations - both: upstream, by reducing the carbon footprint of production facilities and suppliers, and downstream, by the remanufacturing, disassembling and recycling of end-of-life vehicles and their batteries. End-of-life vehicle parts, materials and batteries can become new resources through recycling, re-use, and waste recovery. The circular economy is an essential tool in the fight against climate change.

The Renault Group also targets reduction of emissions from the transportation of parts and vehicles by 30% in 2030. Initiatives include deploying biogas, biofuel, electric and hydrogen powered trucks, scaling up multimodal transportation, reducing the number of kilometres travelled per cubic meter of freight, by using versatile new trucks and optimizing loads, and optimised packaging.

DID YOU KNOW THAT

international studies show that f ree float car sharing reduces the number of cars in the city by about 6%

Round, notat (2022)

GREENMOBILITY - A SUSTAINABLE COMPANY

Life cycle analysis of the cars

LCA is a science-based tool used to quantify a vehicle's environmen- tal impacts throughout its life cycle, encompassing raw material extraction, the manufacturing and assembly of components, and the vehicle's transportation, use, maintenance, and recycling. Carmakers use this tool to calculate the potential contribution to global warming due to greenhouse gas emissions and to validate the environmental benefits of their technological innovations.

Renault estimates that over their entire life cycle, electric vehicles have an average carbon footprint that is 28% smaller than equivalent ICE vehicles in Europe, but the advantage will hugely vary across geographies depending on the share of renewable electricity in the grid.

For both internal combustion engine (ICE) vehicles and electrical vehicles the emissions generated during vehicle use and fuel production, the so-called "well-to-wheel" emissions are the biggest contributors to CO2 emissions. For electric vehicles, well-to-wheel emissions are generated in connection with the generation of electricity.

Raw material extraction and parts manufacturing account for the second largest carbon footprint. Renault is actively engaging with its 15,000 suppliers to reduce their own environmental footprint. Producing the battery of an electric car accounts for a third of its carbon footprint due to the use of electricity from fossil fuels and the extraction of strategic raw materials such as cobalt and lithium. Starting in 2024, the European Union will require battery manufacturers to measure this footprint over a battery's life cycle, from production to recycling.

For both the Kangoo Z.E. model and the ZOE model the largest contributor to CO2 emissions over the life cycle is well-to-tank (emissions from the production, processing, and delivery of electricity). Although both are zero-emission vehicles during their use phase, construction of the drivetrain battery and electricity production are quite sensible and make its environmental benefit decrease. Production represents about 42% of total emissions, of which the drivetrain battery production account for 18%-points alone.

Based on life cycle data provided by Renault, it is estimated that production of a ZOE passenger car has a negative CO2e impact of approximately 9,000 kg CO2, while production of a Kangoo Z.E. van has a negative impact of approximately 6,500 kg CO2e emissions.

14

Source: Renault Life Cycle Analysis

ESG GOVERNANCE

The responsibility for ESG and Sustainability lies with Executive Management, and the day-to-day activities are coordinated by the ESG and Investor Relations department. Sustainability activities are governed by corporate policies. All our policies are available on our website www.greenmobility.com/governance.

As part of Executive Management, the Head of ESG ensures alignment across the organisation and is also responsible for implementing the strategy and achieving the goals across the organisation. However, all managers and departments play an important role in reaching and supporting these targets.

GreenMobility has prepared the statutory report on corporate governance, cf. section 107b of the Danish Financial Statements Act, which is available at www.greenmobility.com/governance. The report contains a review of the company's work with the recommendations for good corporate governance. The Board of Directors is of the opinion that GreenMobility follows the recommendations to the extent that they are relevant to the company.

DID YOU KNOW THAT

To reduce the negative impact on the environment, the old cars that are replaced are sold and recycled elsewhere in the world so that more people can benef it of driving sustainably.

16

ESG STRATEGY THE TIES BETWEEN OUR

BUSINESS STRATEGY AND SUSTAINABILITY

Our short-term strategy is to corner the carsharing market through a massive rollout in cities across Europe. By scaling our business of purely electric vehicles in rapid pace, we intend to outmatch competitors operating petrol- and diesel-powered carsharing fleets. Our expansion strategy will have an increasingly positive impact on the environment, as it leads to fewer privately owned cars and less pressure on traffic and parking when consumers opt for carsharing instead. Further, our strategy is to enhance availability of shared mobility for more people in society – thus having a positive social impact.

Over time, our market dominance will grant us bargaining power in the car and battery manufacturing industries, which we intend to leverage to secure the best possible sustainable solutions in the market. Meanwhile, we clearly expect to see a progressive use of carsharing in the years to come – towards it becoming a mainstream mode of transport.

Cities overburdened by traffic and pollution shall experience improved quality of life, as our electric carsharing option leads to a considerable reduction in congested cities, as well as cleaner air and more green urban areas 1 .

GreenMobility operates an efficient free float carsharing platform in multiple European cities. With thousands of trips per day, we help reduce traffic congestion and have a positive climate impact. GreenMobility is supported by important mega-trends including urbanization, sustainability, and sharing economy.

Today (2022), we are about 137 employees and have 1,600 cars at our disposal. The cars can be accessed through our GreenMobility App in Copenhagen, Aarhus, Malmö, Gothenburg, Antwerp, Ghent, Brussels, Helsinki, Amsterdam, Dusseldorf and Cologne. With our con cept, we offer an attractive mobility service that makes transportation easy, convenient, and cheap for our users.

1 https://www.mckinsey.com/business-functions/sustainability/ our-insights/the-futures-of-mobility-how-cities-can-benefit

ENVIRONMENTAL ASPECTS

By offering an on-demand free-float carsharing service of entirely electric vehicles, we impact the environment favourably on a variety of pressing challenges that cities are facing today. This goes for reducing private car ownership as a result of the extra expense typically applied to personal car ownership in urban areas (registration fees, tolls, insurance, and parking). For urbanities, who utilise their car 3-5% of the day on average2, accessible and affordable carsharing constitutes a desirable alternative to a relative costly option.

The essential side effect of such optimisation of society's mobility resources falls in two;

The essential side effect of such optimisation of society's mobility resources falls in two;

1. Decreased CO2 emissions in the cities, as sharing mobility become prevalent, to enormous benefits for human health, biodiversity, and the climate in general, and

2. Less traffic congestion and therefore more space for parking and urban green areas.

Apart from operating only EV cars, our predilection for sustainable solutions seeps into all aspects of our operations

2 Fortune (Morriz), 2016, Today's Care Are Parked 95% of the Time, and RAC Foundation (Bates & Leibling), 2012, Spaced Out Perspectives on parking policy

and strategy as we pursue market dominance of environmentally friendly mobility. In 2020 we introduced an environmental policy, that ensures the alignment across our business regarding procurement, energy, waste, water, etc. which continuously have our focus.

SOCIAL ASPECTS

As a highly conscientious company, our social concern targets an impact on diversity and inclusion in our organisation. Among our current staff, we have 14 nationalities. When we launch operations in a new country or city, we prefer to hire locals, which naturally adds to the cultural and geographic diverseness of our total staff. Our company language is English, and our external communication is primarily in English. However, our marketing channels that interact with our customers locally have adopted the local language of the city. We continue to introduce initiatives at the workplace that offer inclusion and appreciation of a multicultural workforce, as well as mobilise an even bigger attention to employee health and safety.

Regarding our Human and Labour Rights Policy, we did not experience any breaches concerning this issue area in 2022 (Breaches in 2021: 0). In the future, we will continue to focus on human rights and labour standards to ensure that any individual related to GreenMobility is treated fair, with dignity, and respect. We realise there are risks related to human and labour rights that result from our business, e.g., suppliers not complying to our standards of not employing illegal forms of labour or working under uncivilised conditions.

To mitigate the risk in the supply chain, we ensure that new suppliers sign up to our code of conduct, which also covers human and labour rights

GOVERNANCE ASPECTS

We are committed to ensuring a transparent management of GreenMobility with an open approach to sharing the structures, responsibilities, and policies, that we govern by, with the Board of Directors, investors, customers, and other stakeholders. Governance documents remain available on our website, along with a thorough Prospectus (December 2020) prepared in connection with our admission to Nasdaq Main Market.

GreenMobility's business and other activities are subject to significant regulation, including stock exchange, competition, privacy, data use and security law, and regulations. We work vigilantly to stay in compliance with our regulatory obligations. Privacy of users is a priority, and data is stored, encrypted, and safeguarded internally through clearance levels.

The company has a two-tier governance structure consisting of the Board of Directors and the Executive Management as separate bodies without overlapping members. The board is comprised of six members elected by the general meeting, comprising the Chairman and board members. The annual general meeting in April 2022 approved the Renumeration Policy applicable for the board and management, and the compensation has been determined in accordance with the principles set out in this policy. The Renumeration Policy is available on our website.

Regarding the Anti-corruption Policy, we did not experience any breaches concerning this issue area during 2022 (Breaches in 2021: 0). A significant risk we have identified relates to our growth plans, as the level of corruption is most often associated with the institutional context of a country and the country-specific perception of corruption. As we grow our business to new countries, the risk obviously increases. To mitigate the risk, we are always very attentive when new suppliers are achieved. Thus, we expect this to reduce the risk and avoid any potential vulnerabilities or discrepancies.

SUPPLIER'S CODE OF CONDUCT

Our Code of Conduct stipulates the terms that all our suppliers must declare to adhere to in a signed Supplier Declaration.

In the Code of Conduct, we emphasize our intention to be as sustainable as possible throughout the business. This means working with suppliers who comply with national, and where applicable, international laws on human and labour rights, environmental laws and regulations, and anti-corruption. We encourage all our suppliers to adopt the UN Global Compact principles and to support and actively work with the UN's sustainable development goals. It is underlined that the inability to meet the requirements set out in our Code of Conduct does not necessarily mean that we will terminate the contract, but we reserve the right to do so if the supplier refuses to implement the changes needed to meet our requirements. It is the supplier's responsibility to ensure that subcontractors and other relevant subjects comply with all applicable laws and our Code of Conduct. Finally, we reserve the right to request documentation of compliance, if necessary.

Our choice of suppliers is evaluated through our internal supplier toolbox we have made before engaging in a supplier-buyer relationship. The supplier-buyer relationship is evaluated based on the following:

• 1. The nature of the contractual relationship
• 1. The scope of the agreement
• 1. The dependency
• 1. The exclusivity
• 1. The term of the agreement

When the relationship is evaluated, the decision is hereafter made whether a Signature for the Code of Conduct is required. The relationship with the supplier is evaluated on an annual basis.

STAKEHOLDER ENGAGEMENT

Whether as entities or individuals, our stakeholders are expected to be significantly affected by our actions, activities, and services. Conversely, our stakeholders' actions are expected to exert a degree of influence that may affect our ability to achieve our objectives and implement our strategies. To further improve our stakeholder engagement in the future, we strive to continuously incorporate and prioritise our main stakeholders' views systematically. This is done to ensure that our materiality assessment goes beyond the company's own operation and needs.

Through a materiality assessment (see page 20) we have identified the ESG issues that predominantly affect our business, and more specifically, the key material issues salient to both our stakeholders and business strategy. Among the issues relating to the green transition are car ownership, deduction of company transportation, urban mobility patterns, and reducing the use of non-renewable energy. The issues related to responsible and ethical business conduct and practices are employee retention and satisfaction, responsible suppliers, and board governance.

As a publicly listed company it is of utmost importance for us and our stakeholders that investors are able to access and assess our ESG goals and collected data to better understand – and appreciate – how we incorporate ESG in our activities and how we constitute a reliable impact investment case.

Our sustainability agenda is coupled with the selected material issues and the designated SDGs, as we move on in our report to systematically describe how we work with, and positively impact, each agenda topic. We also specify how the material issue is governed through our policies and who holds responsibility for them at GreenMobility.

MATERIALITY ASSESSMENT

The aim of our materiality assessment has been to identify, assess, and prioritise issues that are material and salient to our stakeholders, and how our business strategy can help solving these issues. The materiality assessment also facilitates the process of informing and keeping our stakeholders updated, specifically investors and regulators about our environmental, social, and governance impacts, risks, and opportunities. The assessment has resulted in the identification of a short list of key material issues.

The material issues are based on a mix of research, societal demands,

internal inputs and identified trends in the shared mobility sector specifically, and the transportation sector in general. A long list was followed by a priori- tisation based on the importance to our stakeholders and our business strategy. The material issues mainly touch upon already identified areas of opportunity and impact on our current business model, both across the company and along our full value chain.

We have systematically prioritised the material issues according to their importance to both our stakeholders and our business strategy.

Importance to Business Strategy

21

ESG STRATEGY

MATERIAL ISSUES AND HOW THEY RELATE TO UN'S 17 SUSTAINABLE DEVELOPMENT GOALS

Based on our materiality assessment and an analysis of the United Nations Sustainable Development Goals, we have identified SDG 11 (Sustainable cities and communities), SDG 12 (Responsible consumption and production), and SDG 13 (climate action) as the goals providing us with the best opportunities to impact the green transition and society the most.

This graph places all the SDGs on a ladder reflecting the level of our impact and opportunity. SDG 11, 12 and 13 are ranked highest due to our direct impact on these goals, followed by six SDGs below the dotted line where our ability to impact is deemed indirect, and then, a step further down the ladder, four SDGs that hold potential opportunities for us to explore impact in the future. The four SDGs placed below the graph are deemed outside our operations and influence entirely.

We have coupled the material issues with our sustainability agenda under two headlines: 'Track 1. Adapting to the green transition' and 'Track 2. Responsible and ethical business conduct and practice'. On the following pages, we elaborate how we work with these two tracks.

OUR SUSTAINABILITY AGENDA

Material issue	Sustainability Agenda	Business strategy	Goal and Indicators/ Impact on the SDGs	Governance, policies and references	Progress in 2022 / visualised goal
Reduction of company transportation	Promote green and flexible company transportation	With our GreenMobility Business App, we facili tate sustainable company transportation and the opportunity to reduce the number of company cars and increase the utility rate of cars at the company's disposal.	SDG 17 Goal 17.16 - Indicator 17.16.1 Goal 17.17 - Indicator 17.17.1 SDG 11 Goal 11.3 - Indicator 11.3.2 Goal 11.6 - Indicator 11.6.2 We contribute to SDG 11 and SDG 17 by enabling the possibility of alternative sustainable transportation.	Responsibility lies with Executive Management.
Urban mobility patterns (change readiness)	Permanently change mobility patterns in urban areas	Shared mobility is one of the key solutions to making urban transportation viable in the future. Traffic density and the derived health threatening air pollution require appeal ing shared mobility options, leading to a reduction in private car ownership and a higher usage of each car in urban areas, resulting in a better traffic flow and reduced parking load. We provide affordable, accessible, and flexible on-demand carsharing, supported by a 24-hour ser vice at hand and designated hotspots to optimize park ing for our customers.	SDG 7 Goal 7.2 - Indicator 7.2.1 SDG 8 Goal 8.4 - Indicator 8.4.1 SDG 11 Goal 11.3 - Indicator 11.3.2 Goal 11.6 - Indicator 11.6.2 Goal 11.a - Indicator 11.a.1 We contribute to SDG 7, SDG 8, and SDG 11 by taking part in changing the current urban mobility patterns.	Responsibility lies with Executive Management. Reference is made to descrip tion in Annual report 2022 page 6.

Track 1. Adapting to the green transition (continued)

Material issue	Sustainability Agenda	Business strategy	Goal and Indicators/ Impact on the SDGs	Governance, policies and references	Progress in 2022 / visualised goal
Infrastructure for urban transportation	Promoting green charging	For GreenMobility, it is essen tial for our social license to operate that we charge our electric vehicles with renew able energy sources, to the extent possible. By actively pursuing and engaging with our charging providers about extending the charging grid, we take part in pushing the electric vehicle agenda and proving the con venience of electric vehicles to all our customers.	SDG 7 Goal 7.2 - Indicator 7.2.1 SDG 11 Goal 11.6 - Indicator 11.6.2 We contribute to SDG 11 by partaking in extending the demand for a better charging grid and the convenience of electric vehicles.	Responsibility lies with Executive Management. Reference is made to our Environmental policy.
Reducing non-renewa ble energy	Avoiding carbon emissions	With our fleet of electric vehicles, we strive to reduce emissions by substituting ICE vehicles, as well as charging based on renewable energy.	SDG 11 Goal 11.6 - Indicator 11.6.2 We work with SDG 7 and SDG 11 to reduce the impact of urban transportation.	Responsibility lies with Executive Management. Reference is made to our Environ mental policy and the description of Avoided emissions on page 33 in this report.

Track 1. Adapting to the green transition (continued)

Material issue	Sustainability Agenda	Business strategy	Goal and Indicators/ Impact on the SDGs	Governance, policies and references	Progress in 2022 / visualised goal
Car ownership	Private car reduction	By offering an easy, accessi ble, and affordable carsharing solution, we seek to encour age urbanities to give up their own car. With the introduction of vans, our fleet facilitates even more practical choices for urbanites, reducing the need for owning a car. Introducing hourly and daily packages have enabled users to visit more destina tions and solve even more mobility issues.	SDG 12 Goal 12.2 - Indicator 12.2.1 Goal 12.5 - Indicator 12.5.1 SDG 9 Goal: 9.4 - Indicator 9.4.1 We work with SDG 9 and SDG 11 by reducing the incentives to buy your own car.	Responsibility lies with Executive Management. Reference is made to "The benefits of shared mobility* on page 12 in this report.
Safe-keeping cars	Safer driving	In general, car vandalism inci dences have surged in recent years in e.g., Denmark. With our effort to increase aware ness on responsible driving, we strive to prevent our cars from being used in reckless manners. Actions include introduc tion of a customer clearing rating system and follow up on incidents stemming from damages made on the car. In the event of reckless driving, or even repeated incidents, by a registered user, we may decide to terminate the user account.	SDG 3 Goal 3.6 - Indicator 3.6.1 By increasing awareness and information, we strive to reduce car vandalism incidences and avoid reckless driving in our cars.	Responsibility lies with Executive Management. Reference is made to Green Mobility's customer Terms and Conditions available on our Website.

Track 2. Responsible business conduct

Material issue	Sustainability Agenda	Business strategy	Goals and Indicators / Impact on the SDGs	Governance and policies	Progress in 2022 / visualised goal
Employee retention and satisfaction	Employee retention rate	We aspire for satisfied and healthy employees with a high level of integrity and work ethics, as well as being open and considerate to both colleagues and society, ensuring equity among all genders.	SDG 5 Goal 5.5 - Indicator 5.5.2 SDG 8 Goal 8.8 - Indicator 8.8.2 We work with SDG 5 and SDG 8 on an on-going basis to continuously improve our equality in the workforce, as well as the best conditions fordecent work and economic growth.	Responsibility lies with our Executive Management Reference is made to our: • Diversity Policy • Human & Labour Rights Policy • Employee Handbook	GreenMobility has con ducted an employee satis faction survey with the result of 86% satisfaction.
Responsible suppliers	Supplier Due Diligence	We have a Supplier's Code of Conduct emphasizing UN Global Compact's 10 princi ples, which must be signed by our main suppliers.	SDG 12 Goal 12.2 - Indicator 12.2.1 Goal 12.5 - Indicator 12.5.1 Goal 12.6 - Indicator 12.6.1 SDG 13 Goal 13.3 - Indicator 13.2.2 By ensuring that our suppliers have an ethical business con duct reflecting our value chain, we actively work with SDG 12 and SDG 13 and increasing our requirements to responsible production and any related neg ative impact.	Responsibility lies with Executive Management Reference is made to our: • Supplier's Code of Conduct • Anti-corruption Policy	We encourage all our sup pliers to adopt the UN Global Compact principles and to support and actively work with the UN's sustain able development goals. To mitigate the risk, we are always very attentive when new suppliers are achieved.

Track 2. Responsible business conduct (continued)

Material issue	Sustainability Agenda	Business strategy	Goals and Indicators / Impact on the SDGs	Governance and poli cies	Progress in 2022 / visualised goal
Board governance	Board composition	The board is composed of competent individuals with various business back grounds. They oversee the governance of the company's compliance with its policies and continuously improve our internal processes across the company. With the introduction of one new board member in 2022, we have strengthened the Board with international competences in relation to GreenMobility´s growth out side Denmark.	SDG 17 Goal 17.14 - Indicator 17.14.1	Responsibility lies with the Board. Reference is made to our: • Remuneration Policy • Articles of Associations • Audit Committee Charter • Corporate Governance Statement
Board governance	Compensation (Board & Management)	It is important to us that the board and management are compensated on fair and equal grounds. The compensation is deter mined with a view to supporting both short and long-term strategic goals. We have implemented a war rant programme as a grant to employees to support the strategic goals and promote value creation to the benefit of shareholders.	SDG 17 Goal 11.6 - Indicator 11.6.2 The principles set out in our Renumeration Policy are intended to be fair, transparent and goal oriented.	Responsibility lies with the Board. The annual general meet ing in 2020 approved the renumeration policy appli cable for the board which satisfies the requirements for such a policy set out in the Danish Companies Act. Reference is made to our: • Remuneration Policy • Articles of Associations • Audit Committee Charter • Corporate Governance Statement

28

ESG STRATEGY

OUR SUSTAINABLE BUSINESS GOALS

Sustainability is an inherent part of GreenMobility's DNA. Since the inception of our business, it was obvious that we needed to change the city environment, and our main contribution is through our electrified mobility service. Every city needs reliable and sufficient mobility solutions – our focus is to ensure this while having as little impact on the environment as possible.

Setting goals for the future comes natural to a growth company, and our impact is proportional with our business growth. We have proved that we save CO2 emissions as we grow our fleet and trips. Consequently, we have a goal of saving more than 20,000 tonnes of CO2 emissions by the year 2030. The essence of our aspirations for 2030 is to enter 35 cities across Europe with a total fleet of +10,000 electric vehicles. It is vital that we reduce the number of private vehicles in the cities. By reducing private vehicles, we reduce parking strains and queuing in the city. In the coming 7 years, our goal is to reduce more than 40,000 private vehicles from

the streets in our cities. With our aspirations for the coming years, we strive to increase our social impact in society and contribute to improved mobility for all areas of the city.

A smart, sustainable city is a city making use of information and communication technologies with the aim of improving both quality of life for urbanites, and urban transportation efficiency, as well as increasing the overall competitiveness at local level of a particular country3.

We contribute to a smart sustainable city by:

• increasing access to less accessible areas of the city
• freeing up space designated to parking into green areas or accommodation
• enabling increased car accessibility, and
• invigorating the living conditions in the cities.

3 https://unece.org/housing/sustainable-smart-cities

As we work across countries, languages, and cultures, diversity comes as a natural prerequisite to our company. Today, we employ roughly three times the number of nationalities than the countries we operate in. Equality on gender and pay will continue to be a focus point, however it will remain a top criterion to have the best suited for a given job, regardless of background. Ultimately, we believe strongly that we cannot run a business for multi-cultural customers, unless we mirror that as a company.

Communicating with our multiple stakeholders is a vital part of our business. Therefore, we will continue to provide transparency in our business and provide clear measures in our ongoing operation. This will be guided by our governance polices (accessible here) and by our Board of Directors.

ESG INITIATIVES AND PLANS FOR 2023

Measuring our business development and success beyond our financial figures has always been an inherent part of GreenMobility. With the work done to measure our performance more consistently during the past years, we have extended the measurement and reporting efforts during 2022, among other things, by starting to incorporate Scope 3 emissions. By 2023, we will further expand the Scope 3 calculations.

As we aim at having a 100% sustainable fleet across Europe our focus is on powering the fleet with electricity from renewable sources. In 2022 we planned to include estimates of the effect of car-sharing and substitution of privately owned cars in the calculation of avoided emissions. But as we have not yet been able to calculate it reliably enough, we will in 2023 work further on the calculations as it remains a goal and as there is undoubtedly a greater impact. Furthermore, safe driving has our full attention where further tracking in 2023 of our cars or speed limitation hopefully results in safe driving.

Measuring employee satisfaction helps us evaluate and improve our work environment and cultural environment, encourage active engagement, and attract and retain talent. To compare, measure progress and initiate new initiatives, we will continue to conduct an employee satisfaction survey across all offices.

ESG initiatives embedded in our daily operations

Recycling our car spare parts

-We store all spare parts from old and used cars, and all spare parts can easily be moved across our cities and be re-used as it is the same car we use in all markets. This leads to significant optimisation of resources. In this way, we limit scrap and new purchases.

-Cars that are damaged to an extent that they cannot re-enter the fleet are disassembled. Parts from the car that need to be rematerialized into scrap metal, are recycled.

-Our teams of technicians and mechanics always stand by to repair cars with minor or major damages. Depending on the size of the damage, the different parts are either changed or disassembled for recycling and reuse.

-In sum, all parts of the car are either reused, recycled, or rematerialized and almost nothing is left for landfill. The EV batteries from cars that need to be completely disassembled are reused in other cars in the fleet or resold.

A safe and healthy labour force

-We are vigilant in keeping our employees safe. In relation to our street crew, we keep track on even minor injuries they may suffer and react appropriately. Regarding Labour Management, our Employee Handbook covers a variety of relevant employment issues and is currently being updated with input from both management and employees.

Ensuring privacy and data security.

-We leverage cloud providers to give us high security and every access to data is logged. Data is stored encrypted at rest Privacy of users is a priority and access is restricted so that only required people have access to customer data.

Cloud sustainability.

-Due to the nature of our business, we produce and process a lot of data. Therefore, we identified a need to select a cloud service which had actively taken an environmental stance on the energy consumption related to data centres, as datacentres consume a lot of energy. On that basis, we have chosen Google Cloud, as they disclose transparently, and they continuously seek to decrease their Power Usage Effectiveness (PUE)4. Google Cloud's PUE is currently 1.105.

Waste initiatives.

-At our offices across Denmark, Sweden, Finland and Belgium, waste sorting practices have been implemented to increase our recycling efforts and mitigate as much negative impact from our waste-generation as possible.

-Besides sorting our general waste, food, paper, and plastic waste, we have also entered into an agreement with our electronics supplier. The agreement entails that all our waste stemming from electronic equipment like computer screens, keyboards, etc., are picked up by our supplier who then makes sure the items are recycled correctly.

4 The data centre industry uses PUE to measure the efficiency of power consumption. A PUE of 2.0 means that for every watt used for the IT part itself, an additional 1 watt is used to cool and distribute power to the IT equipment. A PUE closer to 1.0 means that almost all the energy is used for the computing itself.

⁵ The average PUE rating for data centers is 1.8, according to a survey of more than 500 data centers conducted by The Uptime Institute.

DID YOU KNOW THAT

35% of GreenMobility's users have sold or omitted to buy a car because they use GreenMobility (7% increase from 2021)

GreenMobility I To index

30

Customer Survey 2022

GreenMobility I To index

ESG STATEMENT-PERFORMANCE AND PROGRESS

	NOTE	METRIC	2022	2021	2020
ENVIRONMENTAL
GHG Emissions	1.1
Indirect on premises (scope 2) Indirect on fleet (scope 2) Other Indirect (Scope 3)		tonnes CO2e tonnes CO2e tonnes CO2e	12.46 436.6 1 6,092.82	11.1 5 213.50 n/a	1.86 61.85 n/a
Avoided emissions	1.2
From electric vehicle fleet Accumulated		tonnes CO2 tonnes CO2	2,036.0 5,645. 1	1,353.0 3,609.1	774.7 2,256.1
Energy consumption	1.3
Indirect power consumed		MWh	3,337.0	2,875.0	904.2
SOCIAL
Employees	2.1
Total number of full-time employees Total number of part-time employees Nationalities		Qty Qty Qty	53 84 14	39 58 14	47 54 12
Employee well-being	2.1
Satisfaction (index 1-100) Employee injuries Employee turnover - total Employee turnover - voluntary		Index Qty Percentage Percentage	81 0 26% 18%	n/a 1 44% 23%	82.1 0 20% 10%
Gender diversity	2.2
Overall female/male Management female/male BoD female/male		Ratio Ratio Ratio	24:76 0:100 33.67	23:77 0:100 20:80	28:72 0:100 40:60
Salary	2.3
Gender pay gap CEO pay ratio Reports on CEO pay ratio in regulatory filings		Percentage Ratio	-7 4.8:1 Yes	17 2.4: 1 Yes	10 4.2: 1 Yes
Customer satisfaction Customer satisfaction rating	2.4	Percentage	86	84.7	83.9
GOVERNANCE
Board composition	3.1
Total board members Independent/non-independent board members Average age		Qty Ratio	6 100:0 51	5 100:0 49	5 80:20 49
Nationality Danish/non-Danish	3.2	Ratio	83:17	100:0	100:0
Board meetings	3.1
Board meetings Board attendance		Percentage	8 93	8 95	7 97
Data security Total data security breaches	3.3	Percentage	0%	0%	0%

About the statement

The report is compiled to ensure a high degree of transparency between GreenMobility and our stakeholders on the issues related to the Environment, Social impact, and corporate Governance. The year 2020 was our first year of disclosing an ESG Performance Review and our focus is to systematically evaluate and measure our impact and provide a clear picture of the company and the journey we are on. The goal is to increase the understanding of GreenMobility's positive and negative impact, as well as our current and potential impact. The report is based on internal data retrieved from our own databases, as well as data retrieved from our vehicle software provider. The Scope 2 emissions are aligned with the methodology recommended by GHG Protocol Scope 2 Guidance6 and electricity grid data is retrieved from the European Environment Agency's database7. The Scope 3 emissions are aligned with the methodology recommended by GHG Protocol Scope 3 Guidance.

ESG data collection and quality

Since we reported first time in 2020, we now have at least 3 years performance for all KPIs.

7 https://www.eea.europa.eu

In addition, the figures for 2022 also includes two new cities in Germany and an expansion of the fleet in Finland and the Netherlands, and more data on office use.

1. Environmental Performance

It is important to measure and manage our environmental performance to reduce current risks and mitigate future risks stemming from our business. The following section describe what KPI's we have chosen to measure this year, as we believe that by increasing the awareness of our own footprint, we can effectively plan and set a strategy for reduction action. Some of the risks we have identified to potentially have a negative impact is related to our energy consumption. Our main source of energy consumption is charging our fleet of electric vehicles. To reduce the impact, we have implemented an environmental policy stating this fact, and we are in close contact with our charging suppliers about the importance of shifting towards renewable energy sources.

GHG emissions

(Scope 2, location-based emissions)

The numbers submitted in 2020 are sub	Tonnes C02e	2022	2021	2020
ject to correction compared to last year's report due to incorrect data.	Office	12.46	11.15	1.86
	Cars	436.61	213.50	61.85
6 https://ghgprotocol.org/scope_2_guidance	Total	449.07	224.65	63.71

1.1 Greenhouse gas emissions

The purpose of the KPI is to measure our direct and indirect greenhouse gas (GHG) emissions. 2020 serves as our baseline year and onwards progress will be measured in accordance with the GHG Protocols Scope 2 Guidance8. GHG emissions, whether indirectly or directly consumed by the company, are significant determinants of climate change and is therefore a critical KPI for us to measure. Furthermore, by measuring our carbon emissions, we may understand where we can make a significant change and decrease any potential negative impacts identified in the process.

Accounting policy

Scope 1

As a service company, it is evaluated that the CO2e emitted from primary sources of production remains below our minimum threshold. The source of production considered is the fugitive emissions from air condition systems and domestic refrigerators.

Scope 2

Our indirect consumption of CO2e emissions stem from the consumption of electricity in our offices and from the electricity that our electric vehicle fleet consume.

8 https://ghgprotocol.org/scope_2_guidance

Location-based emissions reflect the average emissions intensity of a country's grid on which the energy consumption occurs. The grid-average emissions factor data is the most recent published by EEA for each country that we operate in9.

Four of our sites Sweden, Finland, Germany and the Netherlands are not included in the calculation for heating in the offices as this is part of the rent. The reasons for the high increase in 2022 for the cars are the increase in the fleet in total and the addition of two new countries.

Scope 3

In addition to our Scope 2 we committed us to start reporting on Scope 3 emis sions in 2022. Over the coming years we will continue to add relevant Scope 3 categories to our reporting and con tinuously strengthen our measurement data collection and development of methodology. Scope 3 emissions are a consequence of the activities of the company but occur from sources not owned or controlled by the company.

The categories of our Scope 3 are the upstream manufacturing of the number of new Zoe's we bought in 2022. The production includes the extraction of raw materials and their processing, the manufacturing of parts and the assembly of

32

9 https://www.eea.europa.eu

the vehicle. Production also includes logis tics from the supplier to the end customer. The downstream Scope 3 are the transpor tation of the fleet from one of our locations to another and business travels followed the distance-based method described in the GHG Protocol and outsourced distribution.

GHG emissions (Scope 3)

Tonnes C0 2 e	2022	2021	2020
Upstream	6,026.40	n/a	n/a
Downstream	66.42	n/a	n/a
Total	6,092.82	0	0

Avoided carbon emissions

Tonnes	2022	2021	2020	2019
From electric vehicles	2,036	1,353	774.71	702.15

1.2 Avoided emissions

Measuring avoided emissions illustrates the benefits of an electric vehicle fleet compared to an ICE vehicle fleet. The progress is measured in tonnes of CO 2

emissions saved from the combus tion of ICE vehicles, as electric vehicles' combus- tion is estimated to not emit any carbon emissions. The calculations of avoided emissions are based on how many kilo- metres our fleet has driven during the year and the emission factor applied. The emission factor is based on the average CO 2 emissions emitted from new passenger (diesel and gas) car exhaustion in 201810. It is important to address what impact we have on the urban areas directly. As a methodology behind a total quantification of the posi tive impact of a shared mobility concept on society and especially urban areas is absent, this is the most accurate meas urement we have access to.

Accounting policy

The measuring of carbon emissions avoided by having only electric vehi cles in the fleet, is based on comparing the combustion of an ICE vehicle with that of an electric vehicle. This is in line with the reporting method used in the previous years. Only the combustion is compared, meaning that the total amount of avoided emissions is not fully displayed. Including these would have a positive impact on the numbers, as shared mobility is estimated to have a significant impact on private car own ership and urban air pollution11.

Energy consumption

MHw	2022	2021	2020
Total indirect power	3,337	2,875	904

1.3 Energy Consumption

Measuring the energy consumption of the company allows us to identify and manage where we can optimise and reduce our energy consumption. This is an important KPI for us, as energy avail ability and resilience directly will impact the company's ability to operate in the future.

Accounting policy

The energy consumption is the total power indirectly consumed by the com pany, as the energy consumed is bought from our external energy suppliers. Our main energy source is electricity and since our energy suppliers have not been able to provide us with accurate data, the amount of renewable energy compared to non-renewable energy, we did not want to disclose an inaccurate number. However, we are internally in dialogue with our energy suppliers on an ongoing basis regarding this topic, as it is important for us to support the renewable energy transition.

10 https://www.eea.europa.eu/publications/co2-emis sions-from-cars-and-vans-2018

11 https://www.mckinsey.com/business-functions/sus tainability/our-insights/the-futures-of-mobility-how-cit ies-can-benefit

2. Social Performance

It is key for us to remain vigilant regarding significant risks related to our work environment and the well-being of our employees. Risks concerning employees could be illness, work-related stress, or lack of motivation. Preventive measures are performed in the respective departments in the close relation between manager and employees. On a general level, risks posed to our workplace and environment are put into words in our Employee Handbook, ensuring awareness and support on topics of basic importance to employees. Further, our policies on Human and Labour Rights, and Diversity address risks and prescribed action. In this section, we describe the KPIs we employ to measure our social performance.

2.1 Employee overview and well-being

The GreenMobility team form the basis of the company's operations and success. An accurate overview of staff numbers and distribution is essential to measure our performance. Measuring employee satisfaction helps us evaluate and improve our work environment and cultural environment, encourage active engagement, and attract and retain talent. To compare, measure progress and initiate new initiatives, we conduct an employee satisfaction survey across all offices.

Accounting policy

A full-time equivalent (FTE), or part-time equivalent (PTE), are units to measure employed personnel in a way that makes them comparable across time within their respective category. The number of employees accounted for is the total number of employees registered at the end of December 2022.

The employee turnover rate is based on FTEs that left the company during 2022 relative to the total number of FTE in the same period.

Employee overview

FTEs	2022	2021	2020
Denmark	33	23	32
Sweden	1	6	5
Belgium	11	7	7
Finland	3	2	3
Germany	1	1	0
Netherlands	4	0	0
Total	53	39	47

PTEs	2021	2020	2020
Denmark	60	47	38
Sweden	12	5	7
Belgium	2	4	7
Finland	4	2	2
Germany	6	0	0
Netherlands	0	0	0
Total	84	58	54

2.2. Gender Diversity

Gender diversity is important for us to create and maintain an equal and equitable workplace. With both genders in our teams, we benefit from multiple viewpoints, approaches, and experiences, which contribute to making our company more innovative and productive, as well as enhance employee satisfaction. We firmly believe that diversity is good for business. As our business continues to expand, we expect that the number of female employees in the organization will grow, as it is a focus point for us and one of the implementation measures is ensuring that female candidates are always considered in the final stage of the hiring process for senior management positions. Our Diversity Policy is available here.

Accounting policy

The total number of employees are separated by their position and personal specification of their gender. Mid/entry level positions include positions below manager positions. Senior management positions include employees in manager positions or in executive management. The numbers in 2021 and 2022 represent totals at the end of December each year. One of the reasons for the evident gender difference is the nature of the company and the work that our street crew performs. The street crew is predominantly made up by men. We believe this is inevitable, as men traditionally are interested in working with cars than women. Within our office teams, the gender diversity is more balanced.

2.3. Salary

It is our goal to have gender pay equality. Thus, a gender pay gap is an important KPI for us, especially since Denmark is known to have a higher gender pay gap compared to its neighbouring countries.12

Accounting policy

To account for our gender pay gap, we first calculate the median monthly salary for all FTEs hired before December 2020. These figures can be derived from our internal CRM system. The figures do not include pension contributions. The gender pay gap median percentage difference is calculated based on the median male salary and median female salary. The CEO pay ratio is based on the CEO's monthly salary excluding bonus and the median paid fixed-monthly-salary employee. The company report on CEO pay ratio metric can be found on our website.

2.4 Customer Satisfaction Rating

Every year, we conduct a Customer Satisfaction Survey. The percentage disclosed are the customers who are either "Satisfied" or "Very Satisfied" with GreenMobility. The rating is an important KPI for us to measure, as it is a clear indicator of our customers' experiences and opinions about our product and the service we provide. We are constantly

12 https://www.nordicstatistics.org/the-gender-pay-gap-existing-but-decreasing/

on the lookout for ways to improve our customers' satisfaction and have included daily/hourly packages extending the usability of the car, as well as introducing an incentive to report the state of the car through a cleaning rating system.

Accounting policy

The customer satisfaction rating is based on 2149 respondents from our customer survey carried out in all countries. In 2021 the survey was carried out in Denmark only.

3. Governance Performance

3.1 Board composition and attendance

The Board has adopted a target of 40-60% female representation in the Board. The target was achieved in 2020, but requirements for new competencies led to a temporary drop in 2021. The target is expected to be met again within the next two years.

The KPI exists to ensure that the board is composed of competent and diverse individuals who can ensure that the business is overseen properly, move forward on a continuous basis, and comply with internal policies. Furthermore, the KPI also illustrates our ability to attract the right candidates and deliver the high degree of variation of competencies that a young company require. The board is used actively as sparring partners, both at board meetings and outside the meetings. Individual board members sit on different committees where their skills are especially needed.

The board meets on a regular and pre-arranged schedule, according to the yearly process in GreenMobility. Additional ad hoc meetings can be called for as a natural consequence of our growth plans and close cooperation with the board.

During 2022, the board held a total of 8 meetings, with a total attendance of 95%.

Accounting policy

The numbers in this table are accounted for by the same minutes-taker at every board meeting in 2022. This individual oversees collecting data and ensures that the data is consistent.

3.2. Nationality

The Board currently consists of 5 Danish nationals and one Swedish. In 2022, the Board sought international board members in line with the international expansion.

3.3. Cyber security and data systems

We take data ethics very seriously and this is how we comply with the Danish Company Act, section 99d. Our Data Ethics Policy is available here.

GreenMobility is driven by technology as a key driver in the sharing economy. Thus, it is an essential KPI for us to measure on, as the company's platform has multiple interfaces, including an app, which the customers use for all interaction with our fleet of electric shared vehicles. On the backend side, all systems are cloud-based, which means we do not store data locally and which significantly reduce risk of security breaches. All payment data between GreenMobility and the customer is handled in an encrypted form, unavailable for our employees, thereby protecting our customers' credit card information.

Across all systems, a two-factor sign-in security has been implemented on all intern systems. The fleet of electric vehicles are continuously tracked for security purposes and cannot be activated without our app and a verified customer profile, as activation of the vehicle requires authentication from GreenMobility's system. In 2021 we strengthened our tech department with additional data experts to allow for more progress, knowledge, and due diligence in all tech and data aspects of our business.

36

UN GLOBAL COMPACT PRINCIPLES

We support the UN Global Compact and this report is our Communication on Progress in implementing its ten principles. Here is where to find information on our approach and actions in relation to each principle.

Human Rights

Anti Curruption
Principle 9: Encourage the development and diffusion of environmentally friend ly technologies	Business Model and Strategy, Adapting to the Green transition, cf. page 23, 29. Link to our web: www.greenmobility.com/investors/governance
Principle 8: Undertake initiatives to promote greater environmental responsibility	Business Model and Strategy, Adapting to the Green transition, cf. page 16, 22, 23. Link to our web: www.greenmobility.com/investors/gov ernance
Principle 7: Businesses should support a precautionary approach to environmen tal challenges	Business Model and Strategy, Adapting to the Green transition, cf. page 11, 18, 24, 28. Link to our web: www.greenmobility.com/investors/ governance
Environment
Principle 6: The elimination of discrimination in respect of employment and occupation	Human and Labour Rights Policy, cf. page 18, 26. .Link to our web: www. greenmobility.com/investors/governance
Principle 5: The effective abolition of child labour	Human and Labour Rights Policy, cf. page 18, 26. .Link to our web: www. greenmobility.com/investors/governance
Principle 4: The elimination of all forms of forced and compulsory labour	Human and Labour Rights Policy, cf. page 18, 26. Link to our web: www. greenmobility.com/investors/governance
Principle 3: Businesses should uphold the freedom of association and the effec tive recognition of the right to collective bargaining	Human and Labour Rights Policy, cf. page 18, 26 Link to our web: www. greenmobility.com/investors/governance
Labour
Principle 2: Make sure that they are not complicit in human rights abuses	Human and Labour Rights Policy, cf. page 18, 26. .Link to our web: www. greenmobility.com/investors/governance
Principle 1: Businesses should support and respect the protection of internation ally proclaimed human rights	Human and Labour Rights Policy, cf. page 18, 26. Link to our web: www. greenmobility.com/investors/governance

Principle 10: Businesses should work against corruption in all its forms, including extortion and bribery

Anti-corruption policy and initiatives, cf. page 18, 26. Link to our web: www.greenmobility.com/investors/governance

Copenhagen, March 16, 2023