Asetek A/S

Environmental & Social Information • Mar 7, 2025

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Asetek is a developer and manufacturer of high-quality gaming hardware. Founded in 2000, Asetek established its innovative position as the leading OEM developer and producer of the allin-one liquid cooler for major PC & Enthusiast gaming brands. In 2021, Asetek introduced its line of products for next level immersive SimSports gaming experiences. Asetek is headquartered in Denmark and has operations in China and Malaysia with a total of 114 employees. In 2024 Asetek recorded revenue of \$52.5 million.

Asetek A/S Visiting address: Skjoldet 20 DK-9230 Svenstrup J Denmark

Phone: +45 9645 0047 Email: investor.relations@asetek.com www.asetek.com

CVR number: 34880522

This report provides a status on Asetek's work on Environment, Social and Governance (ESG) for the fiscal year of 2024, covering the period from January 1st 2024 to December 31st 2024. The report is part of the management commentary section in Asetek's 2024 annual report as stated in section 99a of the Danish Financial Statements Act, through which Denmark has implemented Directive 2014/95/EU on non-financial reporting. This report is published March 7, 2025.

XXXXX ASETEK ESG-REPORT 2024 / Page 2

CONTENT

Asetek in brief	4
CEO statement	6
2024 in brief	7
Our business model explained	8
Commitment and strategy	10
Goals	14
Governance	15
Products and operations	17

Society	20
People	21
Business partners	23
Data	24
Definitions and comments	29

XXXXX ASETEK ESG-REPORT 2024 / Page 3

FOUNDED ON INNOVATION. DRIVEN BY EXCELLENCE

Asetek has been an innovative force in the global liquid cooling manufacturing industry for more than 25 years. In 2021 we introduced products for SimSports gaming. Asetek is headquartered in Denmark and has operations in China and Taiwan with a total of 114 employees. The Asetek share is listed on Nasdaq Copenhagen. In 2024 the company recorded revenue of 52.5 million USD.

Who we are

We are a high-tech company with a long history in mechatronic innovation, focusing on gaming hardware. Since our foundation we have disrupted the PC cooling market, setting new standards for performance and efficiency. In 2021, we continued to leverage our extensive capabilities with software, hardware and mechanics and entered into the world of sim racing as Asetek SimSports®. We are a diverse and agile organization located close to some key electronic manufacturing hubs in South-East Asia.

What we do

Asetek is a developer and manufacturer of high-quality gaming hardware. Since 2000, we design, manufacture, and sell high-quality liquid cooling solutions to most major PC and Enthusiast gaming brands. In 2021, we introduced our line of products for next-level immersive SimSports gaming experiences, offering every sim racer in the world the possibility to push limits and redefine what's possible.

Why we do it

With our market-leading and high-quality product offering our goal is to meet our clients´ requirements for performance, design and longer product lifecycles. Our product development centers around our customers' needs and reflect an innovative engineering approach combined with superior performance. The Asetek brand name has become synonymous with high product quality in all categories, which is confirmed by great reviews and feedback from gamers and hardware enthusiasts around the world. We are in business to push limits and redefine what's possible.

Revenue per year, \$ million Owner type distribution

14.8

2.8

Q1 Q2 Q3 Q4

Adjusted EBITDA per quarter, \$ million

Q1 Q2 Q3 Q4

20.5

4.8

16.5

2.1

24.5

6.2

Revenue per quarter, \$ million

REVENUE 2024

Private Individuals 20.7% Fund company 15.5% Other 13.5%

Pension & Insurance 13.2% Investment & PE 1.6% Treasury Shares 1.3% Unknown owner type 34.3%

Foreign ownership 42.5% Danish ownership 54.5% Norwegian ownership 3.0%

Aquis 0.7%

Cboe Global Markets 11.6% Euronext 43.6% ITG 0.2% LSE Group 1.8% Nasdaq 42.1% Sigma-X 0.04%

\$52.5 million

Foreign ownership

Volume per market

GROSS PROFIT 2024

\$21.9 million

15.8%

of revenue invested in research and

KEY CONCEPTS FOR UNDERSTANDING ASETEK

CUSTOMERS – a global customer base

We design, manufacture, and sell high-performance gaming hardware that delivers next-level immersive gaming experiences. Our products power some of the world's leading PC and enthusiast gaming brands, including three of the five largest PC manufacturers. Since 2021, we have been pushing the boundaries of sim racing, offering every sim racer the opportunity to redefine what's possible with our cutting-edge SimSports product lines.

REACH – well-balanced and global

We have a longstanding local presence in some key electronic manufacturing hubs in South-East Asia and our headquarter is in Aalborg, north Jutland, Denmark. We have a global platform with a solid supply chain creating long-term value for all stakeholders.

PEOPLE – an international organization

We believe that a diverse workforce and an inclusive workplace is a prerequisite for staying competitive, now and in the future. Our highly skilled employees are all sharing the common purpose of challenging industry standards driven by innovation and operational excellence.

INNOVATION – we are a high-tech company

Asetek is a developer and manufacturer of high-quality gaming hardware. Our journey began almost 25 years ago when we disrupted the PC cooling market with our groundbreaking all-in-one liquid cooler, setting new standards for performance and efficiency. In 2021, we continued to leverage our extensive capabilities with software, hardware and mechanics and entered into the world of sim racing as Asetek SimSports®. Our goal is to transform the sim racing scene, pushing limits and redefine what's possible.

HISTORY – founded on innovation

Our history is rooted in innovation that solved a key challenge of performance limitations caused by computer processors running hot. This innovation is the foundation that took Asetek to a world-leading market position within liquid cooling. Since 2021 we are on a mission to become market-leader in the rapidly growing market for sim hardware.

Asetek is committed to sustainable development, guided by our Sustainability Framework. We continuously work to better understand our impacts with the aim of optimizing the sustainability of our products, processes, and business relationships. Our progress is documented in annual sustainability reports.

Just a few weeks into the new year, Asetek celebrated its 25-year anniversary. It is remarkable to think that an idea conceived in a university dorm room and a prototype built in a garage has led to where we are today. Summing it all up, it comes down to continuous innovation and a team of talented, dedicated individuals working together to deliver products that make a difference by enabling better gaming experiences.

While Asetek have delivered material growth and value creation since inception, the past 25 years have included both ups and downs. There is no denying that 2024 also was a mixed bag, with an unexpected and rapid contraction in our Liquid Cooling segment, but also strong growth for the SimSports business.

Against the challenging Liquid Cooling backdrop, management and the board took decisive actions to cut costs, strengthen commercial management and ultimately raise capital to maintain a strong foundation for delivering future value creation through our market leading liquid cooling and sim racing products. Following the turnaround measures, 2025 will likely be a transitional year before growth resumes in earnest in 2026.

Throughout 2024, we have remained committed to embedding sustainability into our operations, doing our best to ensure that it is not only a guiding principle but also a driver of long-term value crea-

"One of our focus areas has been strengthening our ESG data management and control frameworks to meet future reporting requirements and provide reliable insights to guide our decision-making"

tion. However, the regulatory landscape surrounding sustainability reporting is evolving rapidly, and we anticipate continued developments in the coming years. Asetek is well-prepared to meet these challenges and is closely monitoring new regulations to ensure compliance. We are actively working to align with the latest sustainability reporting requirements, including enhanced disclosure of our environmental and social impact.

Asetek has always prioritized creating a positive work environment and supporting our employees through a strong focus on diversity and inclusion. We continuously strive to foster a corporate culture that encourages innovation and personal development while ensuring a safe and fair workplace for all employees, regardless of background. In addition, our sustainability strategy reflects a firm commitment to delivering safe, reliable, and high-quality products for our customers.

One of our focus areas has been strengthening our ESG data management and control frameworks to meet future reporting requirements and provide reliable insights to guide our decision-making. We have laid the groundwork for compliance with the

Corporate Sustainability Reporting Directive (CSRD) by conducting a Double Materiality Assessment, performing regulatory baseline and gap analyses, and establishing action and control frameworks to enhance our ESG data management. We have also implemented system support to ensure streamlined ESG reporting.

Furthermore, we have advanced our ESG data management practices by developing accounting policies for approximately 50 ESG data points and expanding our reporting to include SimSports and broader value chain activities. In addition, we have built a solid foundation for EU Taxonomy reporting, assessing eligible activities and conducting gap

analyses to enhance alignment with regulatory requirements.

As we look ahead, Asetek is fully committed to integrating sustainability across all aspects of our business. We recognize the growing expectations from regulators, investors, and other stakeholders, and we are ready to meet these demands with transparency, accountability, and a continued focus on responsible business practices.

André S. Eriksen, Founder and CEO

SELECTED HIGHLIGHTS 2024

Despite strong growth in the SimSports segment, the relatively larger Liquid Cooling segment was negatively affected by significantly weaker-than-expected growth. During the year, Asetek also delisted its shares from the Oslo Stock Exchange and is now solely listed on Nasdaq Copenhagen. The year concluded with a decision of a capital increase, enabling continued expansion in the SimSports segment.

Increasing ESG capacity: Asetek continued implementing EU's CSRD and Taxonomy reporting frameworks in 2024.

Data Management: Asetek advanced its ESG data management processes and control frameworks.

CSRD Preparation: Asetek implemented compliance- and data collection systems to prepare for compliance with EU's CSRD.

CSRD Preparation: Asetek conducted its first Double matteriality assesment (DMA) in line with EU requirements.

Diversity: Asetek refined its diversity metrics to align with the requirements of EU's CSRD.

21 New SimSports products launched during 2024

Responsible business relations: Asetek maintained a strong collaboration with crucial suppliers to enhance the validity of supplier data.

2024 Selected Financial Key Figures

Fiscal Year	2024	2023	2022	2021	2020
Comprehensive Income (\$000's)
Revenue	52,502	76,332	50,650	79,803	72,750
Income before tax	–18,217	8,498	–5,878	1,397	9,426
Ratios & Metrics
Organic growth	–31,2%	50,7%	-36,5%	9,7%	33,9%
Share price (DKK)	0.48	3.9	8.46	30.58	76.74
Market capitalization (\$000's)	6,509	56,122	31,413	119,825	323,054
Business Drivers
Sealed loop units shipped (000's)	768	1,165	797	1,386	1,201
Revenue per employee (\$000's)	407	570	362	528	661
Avarage number of employees	129	134	140	151	110
Balance Sheet (\$000's)
Total assets	79,363	102,739	78,615	75,354	71,393
Total equity	41,135	66,126	42,748	48,388	47,525
Investment in property, plant and equipment, net	7,823	24,902	22,215	8,322	2,597
Investment in intangible assets, net	2,320	2,561	3,405	10,196	2,876

OUR BUSINESS EXPLAINED

Asetek's leading position is based mainly on the competitive strength that originates from the company's operational excellence in offering high-quality gaming hardware products. During 25 years, Asetek has built up a wealth of experience that is unique among companies in our industry and is recognized for premium quality.

A Global Leader in Mechatronic Innovation

With the capacity to work in the intersection of mechanics, electronics, and computing, Asetek is able to drive innovation at the highest level. Today, Asetek is a global leader in premium liquid cooling solutions for computer hardware enthusiasts and gamers, and a pioneer within high-end SimSports Gaming products for next-level immersive gaming experiences.

Asetek's Gaming and Enthusiast products are all-inone coolers that provide reliable, maintenance-free liquid cooling to gaming and high-performance PC customers. With more than 12 million cooling units deployed, Asetek's patented technology is being adopted by a growing portfolio of OEMs and channel partners.

Revolutionizing the SimRacing Market

In 2021, Asetek expanded its business into the rapidly growing SimSports™ Gaming market for racing simulator gear with the introduction of a line of products for next-level immersive racing experiences. During 2024, additional SimSports products have been introduced, which are sold directly to end-users from Asetek's own webshop. We believe our racing pedals, wheelbases, steering wheels, and accessories will excite and immerse sim racers like nothing else on the market.

Asetek is headquartered in Denmark and has operations in China and Taiwan. Asetek's business model begins with its R&D team and technology labs based in Aalborg, Denmark, which manage collaboration with Asetek's global customer base to define requirements and develop cutting edge technology. The Aalborg team works closely with the R&D team in Xiamen, China, to identify the optimal sources for the necessary components to fulfill specific customer requirements.

Global operations

The sales, marketing, and product management teams, based principally in Denmark and Taiwan, oversee customer relationships to facilitate communication and development, ensuring that the developed product meets or exceeds customer demands.

The flow of physical products generally commences throughout Asia. Asetek's manufacturing and logistics team in Xiamen, China, evaluates and sources components and suppliers for all of the finished product to be assembled. Our cooling solutions are assembled by the Company's principal contract manufacturer based in Xiamen and Malaysia and since 2023, a likewise contract manufacturer has been producing many of our SimSports products in Xiamen and Malaysia.

Asetek's business model concentrates primarily on having contractual relationships with tier-1 contract manufacturers but we thoroughly map and carry out qualitative evaluations and oversight of the suppliers further up the value stream. Finished products are delivered directly to customer hubs in China, with smaller quantities shipped to Europe and USA.

A sizeable quality team is divided in two groups: one in Denmark and one in Xiamen. Their main focus is to ensure cradle-to-grave control over all aspects of quality and compliance with a growing number of regulated parameters.

Asetek's ESG-management orginates from the headquarter in Denmark from where it is distributed to Asetek's other operations in China and Taiwan. Asetek has included their two tier-1 contract manufacturers, which operate in China and Malaysia, as these play a key role in regard to the Company's overall environmental and social impact.

Asetek offices Asetek representation OEM HQ SimSports resellers

OUR COMMITMENT AND STRATEGY

Our Sustainability Framework

Asetek's Sustainability Framework outlines our general commitment to sustainable development and how it is supported by a number of strategic focus areas and overall ambitions for addressing our material sustainability matters. The framework was formulated in 2020 and continued to manifest our strategic guidance in 2024.

Our material topics and stakeholders

It is central to our goals and efforts that we continuously address the topics that are most relevant to Asetek, our surrounding business environment, and society.

Our current materiallity assessment identified 25 topics that cover all our business areas. The most relevant among these are climate impact, product design, suppliers, human rights and lobbying.

Our stakeholder analysis is primarily aimed at creating a good foundation for ensuring that our goals and actions cover the requirements and desires of our internal and external stakeholders in the best possible way. Our most significant stakeholders are owners, b2b and b2c customers, the board of directors, employees, the EU and politicians.

OUR COMMITMENT TO SUSTAINABLE DEVELOPMENT		As the global leader in high performance liquid cooling and SimSports solutions, Asetek is committed to providing cutting edge technology that responds to the challenges of the world and promotes sustainable development
OUR CORE STRATEGIC FOCUS AREAS		PRODUCTS AND OPERATIONS	ROLE IN SOCIETY	PEOPLE	BUSINESS PARTNERS
OUR AMBITIONS		Responsible Products Minimize the environmental and climate impact of our products by developing responsible liquid cooling and SimSports solutions Responsible operations Walking the talk by mitigat ing adverse environmental impacts of our operations and working towards climate neutrality	Protecting Business Integrity Promote transparency and prevent corruption	Promoting Human Potential and diversity Ensure healthy, fair, and safe working conditions for all people in Asetek Promote inclusive and ef fective learning and working environments to inspire skills and potentials of all employees Promote diversity among all employees and management	Fostering Responsible Business Relationships Ensure that Asetek's busi ness relationships, including suppliers and partners, demonstrate responsible business conduct Act against the use of con flict minerals
OUR FOUNDATION	ASETEK'S SUSTAINABILITY POLICY FRAMEWORK
				OUR VALUES

OVERVIEW OF OUR MATERIAL TOPICS

CATEGORY Society	TOPIC
	Responsible purchasing	Conflict metals	Local engagement	Anti-corruption	Human Rights
Finance	Responsible sales	ESG data and reporting	ESG communication	ESG compliance	Lobbying	Tax matters	ESG organisation
Environment	CO2 emissions	Energy consumption	Waste	Packaging
Products	Product design	Hazardous substances	Safe end-of-use disposal	Product information
Employees	Employee satisfaction	Diversity	Discrimination	Training	Stress

Based on our matteriality assessment, we have prioritized six material topics for Asetek to continue addressing in 2024. However, starting from 2025, our double materiality assessment will replace our current materiality

assessment.

OVERVIEW OF OUR MOST MATERIAL TOPICS 2024

MATERIAL TOPIC	ABOUT	PAGE
Responsible purchasing	Ensuring that our work on responsible purchasing is at least equal to standard practice in the area, globally recognized principles, and advisory industry standards	23
ESG data and reporting	Ensuring effective and systematic ESG data management and continuous reporting on our development and actual results to our primary stakeholders	15
ESG communication (internal and external)	Increasing our ESG communications efforts internally and externally to improve transparency, awareness, knowledge, and initiative	20
ESG compliance	Ensuring a solid and appropriate foundation of policy commitments and obligations that drive our future work and help us avoid adverse impacts on internationally recognized principles for responsible business conduct (UNGPs/OECD/RBA)	12
CO2 emissions	Taking our own medicine by measuring CO2e emissions to enable emission reductions according to our climate mitigation product solutions	19
Product design	implementing a holistic approach to sustainability in our product design and use phases, fx life cycle considerations, circular economy etc., besides being the market leader in energy-efficient cooling systems	17

Preparing for a new era of sustainability practices

The introduction of EU's CSRD and Taxonomy requirements in 2023 represents the beginning of a whole new era of sustainability practices and reporting in the business community. Complying with the requirements demands an unprecedented amount of resources and a concerted effort by all covered companies including Asetek. But the requirements are also a steppingstone to further understand our sustainability-related impacts, risks and opportunities across our business activities and value chains and thereby take targeted actions.

In 2024, we continued implementing the overall frameworks for EU's CSRD and Taxonomy requirements which was the primary focus of our ESG activities during the year.

Understanding our context and impacts

A highlight of the year was the development of our first double materiality assessment (DMA) in line with EU requirements. This included the identification of material impacts, risks and opportunities across Asetek's value chain.

New perspectives on impacts, risks and opportunities

As a fast-moving technology company that sources, develops, manufactures and distributes our solutions globally, we are inevitably associated with the risk of causing or contributing to adverse impacts on human rights and the environment.

The results of our DMA have increased our understanding of impacts, risks and opportunities that Asetek may be exposed to. These concern, among other things, issues related to climate impacts,

diversity, labour rights, and health and safety conditions in our upstream activities and own workforce. Further, Asetek may be exposed to adverse impacts on issues related to end-of-life of our products, and consumers and end-users in the gaming industry. From a financial risk perspective, Asetek may be exposed to risks of increased prices on core materials in our products such as metals.

The DMA has shed light on a range of potential impacts that Asetek may be exposed to, and the results listed above are not exhaustive. Hence, our DMA should neither be taken as a final assessment of Asetek's materiality assessment nor as a representation of our actual impacts but as the first step in an updated due diligence process according to the CSRD and our own policy statements on the matter. We have conducted the DMA on potential impacts based on both the information we have about our

value chains and general research. Determining whether Asetek is exposed to actual adverse impacts is an assessment that will be regularly updated by our due diligence work and activity-based data from our suppliers and business relations. As a consequence of the new perspectives on risk that we obtain through our analysis work, we have defined the preliminary scope of reporting according to CSRD requirements. However, In light of the recent announcements from the EU Commission, the implementation of the CSRD is being evaluated.

EU Taxonomy

The EU Taxonomy functions as complex framework, designed to categorize economic activities based on their sustainability credentials. Its primary aim is to forge a unified understanding and precise criteria for what constitutes sustainable practices, thereby

VALUE CHAINS FOR ASETEK

fostering transparency.

This framework plays a pivotal role in shielding investors from misleading claims of environmental virtue (greenwashing), while encouraging corporations to integrate eco-friendly operations. It addresses the issue of market inconsistency and is instrumental in channeling investments towards sectors that are in urgent need of sustainable development.

It's important to note that activities deemed eligible under the Taxonomy may not inherently be sustainable but are recognized for their potential to contribute to achieving one or more of the EU's six delineated environmental goals, as stipulated in Article 9 of the Taxonomy Regulation:

• 1. Mitigating climate change
• 2. Adapting to climate change
• 3. Promoting the sustainable utilization and conservation of water and marine resources
• 4. Facilitating the shift towards a circular economy
• 5. Preventing and controlling pollution
• 6. Safeguarding and rejuvenating biodiversity and ecosystems

Asetek is committed to adopting sustainable practices, especially in the development of liquid cooling and SimSports solutions. Hence, we acknowledge the significance of frameworks like the EU Taxonomy. We therefore began preparing for the taxonomy reporting practices in 2023. We aimed to conclude the project in 2024 but have postponed the reporting due to other business priorities and potential changes in the EU requirements.

OUR GOALS

Annually, we assess the progress towards our objectives to ensure they align closely with our commitments and the realities of our business. This evaluation prompted several adjustments in 2024, particularly in response to the introduction of the EU's CSRD and Taxonomy regulations, which have significantly affected all aspects of our ESG processes and data management.

We view the EU's new standards as a positive development for the business community, promising to enhance and better align ESG practices. These standards resonate with much of the work Asetek has undertaken in previous years. Therefore, we plan to shape our future goals and strategies in harmony with these new benchmarks, building on our past efforts to continuously build an ever more sustainable and responsible business model. With this being our main focus in 2024 and with the prospect of reviewing our goals in relation to the EU's new requirements, we maintained our previous goals in year 2024.

MAIN GOALS FROM 2020-2023 (CONTINUED IN 2024)	STATUS
Asetek's operations are climate-compensated (Scope 1 + 2) by 2024	Completed
We have reduced our absolute CO2 emissions by a minimum of 50% (index year 2019)	To be revised in 2025
We have conducted an LCA assessment on 100% of our products	In progress. First preliminary LCA was developed in 2023. No further actions were taken in 2024.
100% of our crucial suppliers have signed Asetek's Responsible Business Relationships Code of Conduct	Responsible Business Relationships Code of Conduct to be updated and signed in 2025.
100% of our employees have a high understanding of Asetek's goals within sustainability	No actions in 2024. To be revised in 2025
We systematically collect quantitative data for all our ESG policy areas to ensure a high-quality standard of our sustainability data and the ability to monitor progress of our efforts	In progress. +50 data points were defined in 2024 and software support was implemented to streamline data processes.
We have defined and implemented a process for continuously identifying, preventing, or mitigating potential and/or actual adverse impacts according to the principles reflected in our ESG policy commitments and the UNGPs/OECD:	In progress according to new CSRD and Taxono my standards

The goals are further described in later sections of this report and more goals will be presented in each chapter.

ESG GOVERNANCE IN ASETEK

ESG Management

Our ESG committee was established in 2020, and in 2024 the board of directors continued to assess the impacts, risks, opportunities, and progress of Asetek's ESG efforts and decide which initiatives are relevant to launch, adjust or discard.

The committee consists of VP's and managers that cover all areas of Asetek's operations. Asetek's CFO continued as head of the committee, providing regular reporting to the board of directors.

Our ESG Project Manager reports to the CFO and coordinates our ESG and sustainability projects.

The sustainability steering committee meets with the project manager quarterly and additionally as needed to discuss and coordinate progress or issues.

Asetek's ESG Policy Framework

Asetek's ESG Policy Framework provides a solid and appropriate foundation including demands that drive our future work.

We expand the Policy Framework with more relevant policy commitments when appropriate for our business conduct.

Asetek's Commitment to Sustainable Development (our general ESG policy) and Asetek's Business Relationships Code of Conduct (our expectations to all business relations including suppliers) are fundamental to all other policies.

Our general and associated policies support our business decision-making at all levels and provide a frame of reference for how we want to deal with business opportunities and risks. Our general commitment as well as the other policies are applicable to all Asetek's products, services, and organizational units as well as our business relations.

General policy: ASETEK'S COMMITMENT TO SUSTAINABLE DEVELOPMENT
CORE POLICIES	THEME POLICIES	RESPONSIBLE BUSINESS RELATIONS	COMPLIANCE MANAGEMENT
Environment	Staff handbook	Business Relationsships Code of Conduct	Whistleblower
Human Rights	Diversity		Grievance mechanism (Tell us mechanism)
Anti-corruption	Lobbying
	Data Ethics
	Tax Policy

KEY MESSAGES IN OUR POLICY COMMITMENTS

We respect the rule of law and comply with national regulations in all countries in which we operate.
We respect human rights by embedding this policy commitment in all our policies and processes in line with the UN Guiding Principles on Business and Human Rights (UNGPs).
We commit to promoting and supporting environmentally sustainable practices. We will continuously work to reduce our own adverse environmental impacts by applying and developing climate and environmentally friendly services, solutions, and tech nologies in our operations and product range.
We commit to being open and transparent about our business activities. We will not accept any form of bribery, corruption, or fraud.
We expect all our business relationships to meet the same global minimum standard for responsible business conduct (UNGPs/OECD) to which we hold ourselves accountable.
We commit to comply with all applicable data and privacy laws and regulations. We expect employees to prevent and mitigate all data and privacy risks and to inform, through our management system or grievance mechanisms, any breach of this expectation or doubts that our expectations are being met.

Read more about Asetek's Commitment to Sustainability here: https://ir.asetek.com/Commitment-to-Sustainable-Development Read more about Asetek's Data Ethics Policy here: https://ir.asetek.com/Ethics-Policy Read more about Asetek's Business Relationships Code of Conduct here: https://ir.asetek.com/Code-of-Conduct

How we measure progress

We want to ensure a high-quality standard of our sustainability data and thereby a robust basis for monitoring and reporting on our policy commit ments, our efforts, and results. In 2024, we contin ued developing a sustainability KPI structure and data collection process based on data calculation and reporting standards set out by the CSRD. We improved our data management by developing +50 data manuals for all current data points. This work continues in 2025.

Having an adverse impact assessment process in place means that we can identify and address actual and potential adverse impacts in our business practices and value chain according to the principles reflected in the UNGPs/OECD. Further, in 2024 we developed a method to measure financial risks as as part of our double materiality assessment under CSRD.

OUR PRODUCTS AND OPERATIONS

2024 HIGHLIGHTS

• // Maintained high product performance in terms of energy efficiency
• // 0 non-compliance cases, related to hazardous substances, in 2024 with reference to EU Regulation

Responsible products

Our approach

For 2024, our approach to climate and environment issues remained unchanged. It is Asetek's ambition to minimize the environmental and climate impact of our products by developing liquid cooling and SimSports solutions that are responsible in

all relevant aspects of the product's lifecycle and performance. Energy efficiency is a trademark of our cooling products but we are also on a mission to better understand our products' lifecycles, our material use and how we can integrate circular product design practices into our innovation processes.

OUR GOALS FOR 2024 WERE	STATUS
We have conducted LCA assessments on our 4 liquid cooling platforms that comprise all products in the category	First preliminary LCA completed
We have completed a substitution assessment of 100% of our product materials with respect to use of alternative, sustaina ble materials	Completed for our cooling segment. Work in progress for our SimSports devision
We continue to lead energy efficiency within the liquid cooling category	Completed

Our actions and results in 2024

The below figure shows the relationship between Asetek's pump generations used in our cooling products for gamers and enthusiasts and the power needed to achieve the same thermal performance in °C/W, which is a performance parameter widely used in the industry.

As seen in the figure, Asetek has reduced the amount of power needed to achieve the same thermal performance in new products, to 16 % of the power needed compared with a product from 2009.

Relative power draw (constant cooling performance), %

Product design

Since the launch of our sustainability strategy in 2020, we have been conducting comprehensive analysis of our material and resource use year-by-year to assess opportunities for optimizing product designs and production processes in terms of sustainability impacts.

We did not meet our goal of including the Sim-Sports product line in our LCA project.

In 2025, we will continue to investigate opportunities for substitution materials with more sustainable alternatives and reduce material use through optimized designs.

Furthermore, we will look into the upcoming Ecodesign Directive from EU which establishes a framework to set mandatory ecological requirements for energy-using and energy-related products sold in all 27 member states.

Product safety

Asetek is subject to numerous EU regulations, including REACH and RoHS, which govern product safety, and we are also met with customer demands regarding the use of hazardous substances.

We aim to remain proactive in adapting to evolving environmental standards. This approach entails not only adhering to the latest revisions of 3TG (conflict minerals), California Proposition 65, REACH, and RoHS directives but also meeting more rigorous standards that exceed legal requirements.

These additional measures stem from our commitment to environmental stewardship, which prioritizes climate and health, as well as ensuring that our products maintain a competitive edge. This proactive stance helps us mitigate the risk of future complications as more substances are progressively eliminated from industrial use. We also incorporate these initiatives in the development of our Sim-Sports products.

Noteworthy initiatives include the reduction or elimination of halogenated flame retardants in wires and plastics, the adoption of low-halogen PPS, the avoidance of PVC, and the use of lead-free aluminum and steel alloys.

Our dedication to product safety was evidenced by zero non-compliance incidents in 2024, in relation to EU Regulation 1907/2006; Annex XVII of REACH, the Candidate List of SVHC under the

REACH Regulation, the RoHS Directive 2011/65/EU, 3TG Conflict Minerals, and Proposition 65 of OEHHA under CalEPA.

Furthermore, all our products feature standard certifications such as the CE and UL markings, underscoring our commitment to safety and quality standards.

To prevent risks of any legal changes falling through the cracks unnoticed, we continue to assess our products in partnership with Mediator A/S. Mediator is specialized in legal and practical consultancy within chemical, environmental, safety and transportation requirements for international businesses.

We have a list of substances where use is either prohibited or proactively reduced by Asetek (going above and beyond legal requirements under RoHS, REACH etc.). The list includes but is not limited to:

// PVC

• // All brominated flame retardants
• // All chlorinated flame retardants
• // PPS with >1000 ppm residual chloride

In 2025, we expect to

• // Develop a strategy for including circular design principles into the product design process
• // Further develop our sustainability KPI's

Responsible operations

Our approach

On equal terms with our ambitions for responsible products, we are committed to reducing our own environmental and climate impacts by promoting and supporting environmentally sustainable technologies and practices in our operations.

OUR GOALS FOR 2024 WERE	STATUS
Asetek's operations are at least climate-compensated	Continued in 2024 for Scope 1 and 2
We have implemented all appropriate reporting areas from	Work in progress
the GHG Protocol in our calculation method

We currently measure progress with these KPI's. For data breakdown see data section pages.

Key Figures GHG Emissions (summed for Asetek and Tier 1 supplier)

Category	Unit	2024	2023	2022	2021	2020
Total Scope 1 emission	tCO2e	13.7	34.9	44.7	42.9	43.0
Total Scope 2 (location-based method)	tCO2e	138.7	86.8	96.8	99.7	143.5
Total Scope 2 (market-based method)	tCO2e	142.1	87.0	92.3	100.0	283.5
Total Scope 3 emission	tCO2e	5,239.0	6,647.7	4,271.3	7,396.9	5,495.8
Total (location-based method)	tCO2e	5,391.3	6,769.4	4,412.8	7,539.6	5,682.4
Total (market-based method)	tCO2e	5,394.8	6,769.6	4,408.3	7,539.8	5,822.3
Percentage change (Location-based)	tCO2e	-20.4%	53.4%	-41.5%	32.7%	15.6%

Our actions and results in 2024

Our total tCO2e for year 2024 has decreased compared to year 2023. This development is primarily due to the higher product turnover in year 2023 compaired to year 2024. However, we are aware that there must be significant emissions associated with the construction of our new building, in Svenstrup J. These emissions are not included in this year's report due to insufficient data. However, emissions from the operation of the building are included in this report.

Our ambition is to obtain the most accurate calculation of emissions from the construction and include them as historical data in the 2025 report.

We have compensated our Scope 1 and 2 CO2 emissions in year 2021, 2022, 2023 and 2024 with certified carbon credits from a leading provider of such.

We did not meet our goal of conducting a comprehensive Scope 3 analysis in 2024 as we were still working to establish the supplier base for our SimSports products and focusing on implementing CSRD requirements.

We continued our efforts to reduce waste production by means of our waste sorting system (mainly Danish operations) and use of paper and water in our daily operations.

In 2025, we expect to // Research product carbon footprint analysis

OUR ROLE IN SOCIETY

Protecting Business Integrity

Our approach

We believe that fostering sustainability in every aspect of our business is a natural prerequisite for promoting innovation, building stronger relationships with customers and employees, and contributing to positive development in society. Asetek wants to be a good corporate citizen. Hence,

we will not accept any form of bribery, corruption, or fraud. We support high-quality standards for data protection and integrity.

We are committed to being open and transparent about our business activities and we will provide timely, regular, and reliable information on our business practices, our impact assessments and how we

manage adverse impacts to all relevant shareholders, employees, customers etc. We believe regular assessments and transparent communication will help anchor our commitment and spur sustainable development and a strong image throughout our company and context.

Our actions and results in 2024

Throughout 2024, Asetek's ESG steering committee continued to hold quarterly meetings to discuss ESG agendas, issues and status on our sustainability-related projects.

We continue to pay attention to risks of corruption in our daily activities. We include anti-corruption in our offers, contracts and other relevant business documents. Our internal controls documentation also includes guidelines on this topic.

We conduct an annual internal impact assessment according to OECD's guidelines on anti-corruption. We found no severe impacts in 2024. As part of implementing the new CSRD requirements, we began updating our impact assessment in 2023 and 2024 as part of our double materiality assessment. We will report on, impacts, risks and opportunities as part of our 2025 ESG report.

We identified no incidents of corruption in our operations in 2024.

In 2024, we met our goal of engaging with relevant internal and external stakeholders in order to measure awareness and attitude towards the

sustainability work that Asetek carries out. However, we did not meet our goal of compiling sufficient data to inform whether or not we reached our awareness goals for the period.

All relevant employees participated in GDPR and cyber security training as planned. This will help us prevent cyber security breaches and inappropriate handling of data.

In 2025, we expect to

// Continue our focus on internal and external sustainability awareness

// Continue our focus on anti-corruption

OUR RESULTS GOALS FOR 2024 WERE	STATUS
100% of our employees have a high understanding of Asetek's goals within ESG	Work in progress
75% of our employees see Asetek's ESG goals as relevant to a high degree	Work in progress
75% of selected customers regard Asetek's ESG goals as relevant	Work in progress
50% of selected customers regard Asetek as a sustainable company	Work in progress
We have conducted stakeholder dialogues regarding ESG goals and expectations toward Asetek with 20% of our combined customer base	Work in progress

OUR PEOPLE

Promoting human potential and diversity

Our approach

It continues to be our ambition to always offer a healthy, safe, and developmental working environment for all employees, customers, and external partners in Asetek.

We will also promote equality and diversity, including increasing the proportion of the underrepresented gender at all levels of management.

As part of our commitment to sustainable development (Asetek's general ESG policy), we are committed to continuously work to identify, prevent, or mitigate potential and actual adverse impacts on human rights that we may cause or contribute to.

Please read our entire commitment to respect human rights on URL https://ir.asetek.com/Human-Rights-Policy

Units	2024	2023	2022	2021	2020
Days/FTEs	3.6	4.2	5.6	3.7	3.1
Number	2	–	1	–	1
%	29%	33%	27%	34%	35%
Number	113.9	134.4	140	151	110
Number	10	14	11	11	13
Number	20	20	14	31	19
Number	36	5	28	32	13
%	8%	10%	10%	6%	12%
%	100%	100%	100%	100%	100%
%	0%	100%	100%	100%	100%
%	29%	3%	21%	18%	10%
%	38%	39%	25%	27%	43%
%	14%	21%	26%	28%	20%
%	61%	56%	63%	45%	68%
%	25%	23%	24%	28%	12%
Hours	3,088	3,272	2,321	3,840	4,522
USD	31,005	60,736	82,621	126,328	62,476
Hours	27.1	24.3	16.6	25.4	41.1
%	48%	36%	49%	43%	59%
					2020
					–
					20%
	Number %	2024 4 25%	2023 – 40%	2022 –	2021 – 40% 20%

OUR RESULTS GOALS FOR 2024 WERE	SATUS
We have implemented the first human rights due diligence process	Completed in 2021. Udated in 2024
We have conducted our first human rights assessment	Completed in 2022. To be updated in 2025
We are systematically collecting data about alle relevant em ployee conditions	Continued in 2024

Our actions and results in 2024

In order to apply with the UN Guiding Principles on Business and Human Rights (UNGPs), we conducted our first impact assessment in 2021 to identify actual and/or potential adverse impacts on human rights that we may cause or contribute to among our employees.

In 2024, we identified no severe impacts.

Asetek continues to assess that we have potential adverse impacts on the human rights listed in the table included on this page. Asetek takes precautionary actions to prevent and mitigate all potential adverse impacts.

Please go to https://ir.asetek.com/governance/ governance-documents-and-policies for full disclosure of our impact assessments and indicators to measure progress on our actions to prevent adverse impacts.

Other results and actions in 2024

All managers conducted employee development dialogues on a regular basis throughout the year. Ongoing dialogue is an important tool that helps us to nurture personal and professional development as well as prevent or mitigate incidents of stress or illness.

We have IT systems for registering sick leave, so we are always able to monitor the overall level of sick leave in Asetek.

In 2024 the sick leave was 3,6 days per 100 FTE's.

We continue to update and train our employees in safety procedures regarding the use of machinery, electronic equipment and chemistry used in our products and production.

Our employee handbook informs about all relevant aspects of working at Asetek, i.e. work environment, IT, health and safety procedures, legal issues, communication, and Asetek's values and culture. The handbook was updated in 2023 and is planned to be updated in the beginning of 2025. At that time, we will also re-implement it in our global offices.

Promoting diversity

As of December 31, 2024, the board of directors consists of 4 individuals, three men and one woman.

The total share of women in the workforce was 29% in 2024.

In 2025, we expect to

• // Continue monitoring the physical and mental health of our employees
• // Increase internal communication about sustainability
• // Improve (or maintain good) human rights scores

Human rights according to UNGPs	Identified potential adverse impacts that Asetek may cause
2	Right to non-discrimination
3	Right to work (training, contract, termination)
4. a.	Right to equal pay for equal work
4. b.	Right to a living wage (minimum wage)
4.c.	Right to safe and healthy working conditions
4.d.	Right to equal opportunities for everyone to be promoted
4.e.	Right to rest, leisure, and paid holidays
6	Right to social security, including social insurance
7.a.	Right to protection of mothers before and after childbirth
8.b.	Right to adequate clothing
9.	Right to health
11.b.	Right to benefit from scientific progress
11.c.	Right to material gains from inventions
11.d.	Moral rights of authors (protection of copyrights)
	Right not to be subjected to torture, cruel, inhuman and/or degrading treat
13.a.	ment or punishment
20.	Right to fair trial
23.	Right to privacy
25.b.	Right to freedom of expression
25.c.	Right to freedom of opinion

Human rights Impact assessment for Asetek

OUR BUSINESS PARTNERS

2024 HIGHLIGHTS

• // We conveyed our Responsible Business Relationships Code of Conduct to all our primary suppliers in the SimSports business
• // We initiated dialogues with crucial suppliers on how to implement our code of conduct
• // We collected ESG data from crucial suppliers

Foster responsible business relationships Our approach

Asetek purchases a wide range of goods and services required in the operation of our business and we also rely heavily on several key suppliers for the delivery of our products.

Responsible business relationships with our suppliers and business relations in general are therefore central to the success of our business.

Our expectations for our business relationships are based on the same global minimum standard for responsible business conduct to which we hold ourselves accountable.

We expect all our business relationships to meet the global minimum standard as outlined in the UN Guiding Principles for Business and Human Rights and the OECD Guidelines for Multinational Enterprises. They should avoid causing or contributing to adverse impacts on human rights, the environment, and anti-corruption, and should address any actual adverse impacts that arise. Our expectations are detailed further in our Code of Conduct for Responsible Business Relations.

We encourage responsible business conduct and sustainable development at all levels of our value chain. We commit to using or building our leverage as a company to support and encourage others to address their severe impacts and move towards

OUR RESULTS GOALS FOR 2024 WERE	STATUS
We have formulated and implemented CSR policies in all relevant CSR areas at Asetek	Completed. To be revisited in 2024 due to CSRD requirements
100% of our primary suppliers have signed a Supplier Code of Conduct	Work in progress
We have received a risk assessment from our crucial suppliers	Completed for both our cooling and SimSports business

meeting the globally accepted standard (UNGPs/ OECD).

Our actions and results in 2024

Up until year 2024, all strategic business relationships of Asetek have received our Responsible Business Relationships Code of Conduct (RBRCoC) as part of the contract. Among other things, the code of conduct defines procedures on how to ensure compliance with the supplier standard on labour rights and our expectations of due diligence on that matter.

Our ambition is to review our RBRCoC to resend and discuss the updated RBRCoC with relevant business relationships, in year 2025.

We have established a grievance mechanism in line with our policy commitment to sustainable development. This mechanism is accessible on our website under the governance section at https:// ir.asetek.com/governance/governance-documents-and-policies. In 2024, we did not receive any inquiries in regard to breaches on our RBRCoC. In 2025, we plan to communicate the grievance process to all employees and crucial suppliers to raise awareness.

Conflict Minerals

The use of potential conflict metals and raw materials from controversial sources is a risk in the technology industry. Among known 3TG conflict metals, Asetek uses only one, which is on the watch list, namely tin. To the best of our knowledge, Asetek's suppliers of this metal are known to source it from responsible mines.

We identified no incidents of known 3TG conflict metals in our products or operations in 2024.

In 2025, we expect to

• // Reiterate grievance mechanism internally and to crucial suppliers
• // Update existing policies and formulate new where relevant

DATA AND COMMENTS

Key Figures GHG Emissions (Asetek) Category Unit 2024 2023 2022 2021 2020 Scope 1 Transportation Diesel (B5) tCO² e 13.1 16.4 15.4 12.5 16.6 Petrol (E5 tCO² e 0.6 9.2 18.6 20.3 16.3 Biodiesel, HVO tCO² e – – – – – Transportation Total tCO² e 13.7 25.7 34.0 32.8 32.9 Stationary combustion Natural gas (US avg.) tCO² e – 9.2 10.1 10.1 10.1 Stationary combustion Total tCO² e – 9.2 10.1 10.1 10.1 Total Scope 1 emissions tCO² e 13.7 34.9 44.7 42.9 43.0 Scope 2 Electricity location-based Electricity Denmark 125 tCO² e 1.4 – 2.2 – 68.6 Electricity China tCO² e 19.8 31.6 27.9 34.6 31.4 Electricity Taiwan tCO² e 5.3 3.5 7.8 6.2 3.7 Electricity US/CAMX tCO² e – 17.0 22.0 19.3 21.2 Electricity Total location-based tCO² e 26.5 52.1 59.8 60.0 124.9 Electricity Green Electricity Wind tCO² e – – – – – Electricity Green Total tCO² e – – – – – DH Nordic Locations District heating DK/Aalborg tCO² e 112.1 34.7 37.0 39.7 18.6

DH Nordic locations Total	tCO2 e	112.1	34.7	37.0	39.7	18.6
Total Scope 2 emissions	tCO2 e	138.7	86.8	96.8	99.7	143.5
Electricity market-based	tCO2 e	30.0	52.3	55.3	60.3	264.8
Scope 2 Total market-based	tCO2 e	142.1	87.0	92.3	100.0	283.5
Scope 1 renewable energy	MWh	3.8	5.1	7.2	6.9	–
Scope 1 renewable energy share	%	7%	3.3%	3.5%	3.5%	0%
Scope 2 renewable energy (Location-based)	MWh	986.0	629.4	718.6	643.0	–
Scope 2 renewable energy share (Location-based)	%	61.2%	69.7%	74.2 %	71.1%	0%
Scope 2 renewable energy (Market-based)	MWh	966.31	585.95	669.43	587.95	–
Scope 2 renewable energy share (Market-based)	%	60%	64.9%	69.1%	65%	0%
Total renewable energy share (Location-based)	%	59.5%	60.1%	62.0%	59.0%	0%
Total renewable energy share (Marked-based)	%	58.3%	56.0%	57.8%	54.0%	0%
Percentage change		57.7%	-9.8%	6.2%	2.5%	–2.0%

DATA AND COMMENTS ASETEK ESG-REPORT 2024 / Page 24

Key Figures GHG Emissions (Asetek)

Unit	2024	2023	2022	2021	2020
e	259.8	393.7	278.2	267.6	149.0
e	259.8	393.7	278.2	267.6	149.0
					77.4
					1.6
					0.2
e	64.3	47.8	19.5	10.2	8.3
e	387.8	518.5	159.0	227.2	87.4
e	18.5	25.5	17.3	23.4	51.5
e	0.1	0.3	0.2	0.1	0.1
e	0.1	0.4	0.3	0.3	–
e	0.4	0.3	0.4	0.5	0.8
e	19.1	26.5	18.2	24.3	52.4
e	21.2	11.9	6.7	1.3	1.1
e	0.4	0.3	0.2	0.3	0.2
e	0.1	0.1	0.1	0.1	0.2
e	21.7	12.3	7.0	1.7	1.5
e	16.6	31.3	4.1	–	–
e	11.2	21.2	–	–	–
e	8.1	4.6	–	–	–
e	77.4	137.1	11.8	–	–
e	118.6	256	131.8	–	–
e	20.6	30.6	5.9	–	–
e	17.9	33.8	–	–	–
e	0.6	1.8	0.3	–	–
e	270.9	516.4	153.9	–	–
tCO2 e			616.3	520.8	290.3
tCO2 e	-30%	109.7%	14.2%	39.1%	-20.1%
	tCO2 tCO2 tCO2 e tCO2 e tCO2 e tCO2 tCO2 tCO2 tCO2 tCO2 tCO2 tCO2 tCO2 tCO2 tCO2 tCO2 tCO2 tCO2 tCO2 tCO2 tCO2 tCO2 tCO2 tCO2 tCO2	317.4 6.1 0.0	463.9 6.7 0.1 959.4 1,467.4	132.7 6.7 –	207.4 3.5 –

Key Figures GHG Emissions (Tier 1 suppliers)

Category	Unit	2024	2023	2022	2021	2020
Scope 3
Business travel
Ground transportation travel (Taxi)	tCO e 2	–	–	–	0.2	–
Ground transportation travel (Others)	tCO e 2	1.4	0.8	0.2	–	–
Sea travel	tCO e 2	–	–	–	–	–
Air travel	tCO e 2	–	8.8	–	0.6	–
Hotel nights, world	tCO e 2	1.1	3.0	–	0.3	–
Business travel Total	tCO e 2	2.5	12.6	0.2	1.1	–
Waste
Residual waste, incinerated	tCO e 2	4.2	40.1	38.7	26.5	24.6
Mixed waste, recycled	tCO e 2	0.1	0.2	0.1	–	–
Waste Total	tCO e 2	4.3	40.3	38.8	26.5	24.6
Electricity
Electricity China	tCO e	837.6	700.5	441.6	921.9	704.6
Electricity renewable	2 tCO e 2	–	–	–	–	–
Electricity Malaysia (upstream)	tCO e 2	171.0	13.2	–	–	–
Electricity Total	tCO e 2	1,008.6	713.7	441.6	921.9	704.6
Packaging materials
Cardboard, virgin	tCO e 2	215.3	167.3	181.7	731.7	599.9
Plastic avg. (virgin)	tCO e 2	18.5	10.9	2.4	1.5	1.4
Cardboard, recycled (CL)	tCO e 2	243.3	328.1	201.9	55.1	53.6
Packaging materials Total	tCO e 2	477.0	506.3	386.0	788.3	654.9
Product materials
Aluminium	tCO e		2,360.0 3,529.7 2,545.4 4,617.3 3,441.1
Polyurethane fabric (T1-4)	2 tCO e 2	20.3	–	–	–	–
Plastic avg.	tCO e 2	102.7	115.6	743.7	155.9	108.4
Steel, stainless	tCO e 2	97.4	0.7	–	–	–
Electrical items - small	tCO e 2	19.0	1 .1	–	–	–
Cable, unspecified	tCO e 2	8.9	–	–	–	–
Copper cathode	tCO e 2	164.9	250.9	164	353	261
Rubber, EPDM	tCO e 2	6.7	9.1	5.8	12.1	8.7
Product materials Total	tCO e 2		2,779.9 3,906.0 3,458.9 5,138.3 3,819.2
Total Scope 3 emissions	tCO e 2		4,279.5 5,180.3 3,655.0 6,876.1 5,205.5
Percentage change		-17.4%	41.7%	–46.8%	32.1%	20.5%

Key Figures Consumption (Asetek)

Category	Unit	2024	2023	2022	2021	2020
Scope 1
Transportation
Diesel (B5)	liters	5,145	6,480	5,978	4,857	6,497
Biodiesel, HVO	liters	122	–	–	–	–
Petrol (E5)	liters	286	4,145	8,363	9,121	7,400
Stationary combustion
Natural gas (US avg.)	m3	–	4,039	5,385	5,385	5,385
Scope 2
Electricity
Electricity Denmark 125	kWh	11,233	868.3	13,926		– 448,459
Electricity China	kWh	33,461	51,590	45,183	55,110	50,830
Electricity Taiwan	kWh	9,605	6,127	14,145	11,064	6,044
Electricity US/CAMX	kWh	–	70,391	93,855	93,855	93,900
DH Nordic locations
District heating DK/Aalborg	kWh		922,110 315,100 303,120 325,480 277,742
Electricity Green
Electricity Wind	kWh		633,242 459,598 497,880 418,698			–
Scope 3
Goods transportation (up-/down
stream)
Transport of goods	tCO2 e	259.8	393.7	228.2	267.6	149.0
Business travel
Ground transportation travel (Taxi)	km	18,077	25,053	19,510	11,242	7,400
Ground transportation travel (Others)	km	63,336	74,121	66,724	68,074	1,010
Sea travel	pkm	–	636	–	80	1,200
Air travel	flight trips	734	960	268	432	163
Hotel nights, world	nights	1,623	1,206	494	226	178
Waste
Residual waste, incinerated	kg	38,000	46,253	34,423		46,663 102,649
Paper waste, recycled	kg	11,879	14,178	11,228	5,362	3,420

Category	Unit	2024	2023	2022	2021	2020
Metal waste, recycled	kg	23,188	17,004	14,448	15,842	–
Waste water treatment	m3	2,273	1,426	1,315	1,972	1,140
Packaging materials (Location DK)
Cardboard, virgin	kg	17,779	14,889	8,035	1,537	1,453
Plastic avg. (virgin)	kg	134	88	66	85	54
Pallet wooden EUR, reused	Qty	118	–	–	–	–
Pallet wooden EUR, reused	kg	–	3,408	2,993	1,901	4,765
Product materials (Location DK)
Electrical items - small	kg	2,930	5,540	728	–	–
Cable, unspecified	kg	1,844	3,332	–	–	–
Polyurethane fabric (T1-4)	kg	544	313	–	–	–
Steel, stainless	kg	20,925	41,796	2,819	–	–
Aluminium	kg	13,018	28,102	14,453	–	–
Plastic avg.	kg	6,514	9,867	1,884	–	–
Copper cathode	kg	2,552	4,825	–	–	–
Rubber, EPDM	kg	498	1,449	201	–	–

Key Figures Consumption (Tier 1 supplier)

Category	Unit	2024	2023	2022	2021	2020
Scope 3
Business travel
Ground transportation travel (Taxi)	km	-	-	-	754	226
Ground transportation travel (Others)	km	8,102	7,750	1,069	-	-
Sea travel	pkm	-	-	-	-	-
Air travel	flight trips	21	30	-	4	-
Hotel nights, world	nights	27	75	-	6	-
Waste
Residual waste, incinerated	kg	8,572	72,837	77,148	52,794	49,077
Mixed waste, recycled	kg	9,529	9,593	3,087	24	-
Electricity
Electricity China	kWh		1,414,424 1,143,078			714,638 1,470,394 1,143,903
Electricity renewable	kWh	77,000	17,384	16,749	-	-
Electricity Malaysia (upstream)	kWh	1,030,128	80,384	-	-	-
Packaging materials
Cardboard, virgin	kg	180,280	208,706	219,160	891,204	799,585
Plastic avg. (virgin)	kg	3,843	3,520	760	488	435
Cardboard, recycled (CL)	kg	222,690	468,770	280,770	76,611	69,568
Product materials
Aluminum	kg	259,147	387,514	279,020	506,140	377,420
Polyurethane fabric (T1-4)	kg	1.369	-	-	-	-
Plastic avg.	kg	32,437	37,248	23,660	50,030	34,790
Steel, stainless	kg	26,317	216	-	-	-
Electrical items - small	kg	3,362	194	-	-	-
Cable, unspecified	kg	1,468	1	-	-	-
Copper cathode	kg	23,573	35,862	24,780	53,500	39,580
Rubber, EPDM	kg	5,286	7,110	4,590	9,500	6,810

DATA AND COMMENTS ASETEK ESG-REPORT 2024 / Page 27

Key Figures GHG Emissions (summed for Asetek and Tier 1 supplier)

Category	Unit	2024	2023	2022	2021	2020
Total Scope 1 emission	tCO2 e	13.7	34.9	44.1	42.9	43.0
Total Scope 2 (location-based method)	tCO2 e	138.7	86.8	96.8	99.7	143.5
Total Scope 2 (market-based method)	tCO2 e	142.1	87.0	92.3	100	283.5
Total Scope 3 emission	tCO2 e	5,239.0	6,647.7	4,271.3	7,396.9	5,495.8
Total (location-based method)	tCO2 e	5,391.3	6,769.4	4,412.8	7,539.6	5,682.4
Total (market-based method)	tCO2 e	5,394.8	6,769.6	4,408.3	7,539.8	5,822.3
Percentage change (Location-based)	tCO2 e	-20.4%	53.4%	-41.5%	32.7%	15.6%

Governance Data

Category	Unit	2024	2023	2022	2021	2020
Reports via whistleblower website	Number	4	-	-	-	-
Share of women in board level positions	%	25%	40%	40%	20%	20%

Relative product power draw

Category	2024	2023	2022	2021	2020
Relative product power draw	16%	16%	16%	16%	26%

Social Data

Category	Unit	2024	2023	2022	2021	2020	Category	Unit	2024	2023	2022	2021	2020
Health and safety
Sick leave (Days/FTEs)	Days/FTEs	3.6	4.2	5.6	3.7	2.3
Work Accidents	Number	2	-	1	-	1
Diversity							People
Denmark							Full-Time Equivalents (FTEs) (year-end)	Number	113.9	134.4	140	151	110
Headcount Year-end	Number	86	105	86	107	80	Non-permanent workforce at the end of the	Number	10	14	11	11	13
Share of Women	Number	16	21	17	19	16	financial year
Share of men	Number	70	84	69	82	87	Number of permanent employees hired	Number	20	20	14	31	19
Share of Women percentage	%	19%	20%	20%	18%	20%	Number of permanent employees departures Number		36	5	28	32	13
Share of men percentage	%	81%	80%	80%	82%	80%	Share of non-permanent staff	%	8%	10%	10%	6%	12%
China							Share of employees who benefited from an	%	100%	100%	100%	100%	100%
Headcount Year-end	Number	30	40	39	50	39	annual individual interview
Share of Women	Number	16	25	19	25	13	Share of employees who benefited from an	%	0%	100%	100%	100%	100%
Share of men	Number	14	15	20	25	26	awareness program on the code of ethics
Share of Women percentage	%	53%	63%	49%	50%	33%	Employee turnover rate	%	29%	3%	21%	18%	10%
Share of men percentage	%	47%	38%	51%	50%	67%	Share of employees with 5 years or more	%	38%	39%	25%	27%	43%
Taiwan							service Share of employees at age <30	%	14%	21%	26%	28%	20%
Headcount Year-end	Number	7	6	5	5	4	Share of employees at age 30-50	%	61%	56%	63%	45%	68%
Share of Women	Number	3	3	2	3	3	Share of employees at age 50<	%	25%	23%	24%	28%	12%
Share of men	Number	4	3	3	2	1
Share of Women percentage	%	43%	50%	40%	60%	75%	Education
Share of men percentage	%	57%	50%	60%	40%	25%	Education hours	Hours	3,088	3,272	2,321	3,840	4,522
USA							Education expenses	USD	31,005	60,736		82,621 126,328 62,476
Headcount Year-end	Number	3	5	6	11	10	Average number of training hours per
Share of Women	Number	-	-	-	1	1	employee	Hours	27,1	24.3	16.6	25.4	41.1
Share of men	Number	3	5	6	10	9	Share of employees who benefited from a
Share of Women percentage	%	0%	0%	0%	9%	10%	training during the financial year	%	48%	36%	49%	43%	59%
Share of men percentage	%	100%	100%	100%	91%	90%
Total
Headcount Year-end	Number	126	156	136	173	133
Share of women in the workforce	%	29%	33%	27%	34%	35%

Share of men in the workforce % 71% 67% 73% 66% 65%

DEFINITIONS AND COMMENTS

KPI/CATEGORY	COMMENTS
FINANCIAL PERFORMANCE	FINANCIAL PERFORMANCE
Financial key figures is taken from the audited 2024 Annual Report of Asetek
RELATIVE POWER DRAW	RELATIVE POWER DRAW
Relative power draw is a measure for performance of new products launched, measured as thermal perfor	The relative power draw is unchanged from 2021 to 2024 as it is based on the same pump generation,
mance in °C/W compared to the products power draw needed to achieve the same thermal performance.	which is the newest pump generation launched.
ENVIRONMENTAL DATA	ENVIRONMENTAL DATA
SCOPE 1	SCOPE 1
Transportation	Transportation
Diesel (B5) is measured as litres of diesel purchased for company-owned cars based on invoices registered in Asetek's ERP system.	The concumption of Diesel (B5) is at the same level as for privous reporting periods. The consumption originates from the operations of the company van and covers goods transportation (upstream).
Petrol (E5) is measured as litres of petrol purchased for company-owned cars based on invoices registered in Asetek's ERP system.	The decrease in Petrol (E5) is due to the transition from petrol to electric vehicles, applicable to compa ny-owned vehicles.
Biodiesel, HVO is measured at litres of biodiesel purchased for company-owned cars based on invoices or receipt registered in Asetek's ERP system.
Stationary combustion	Stationary combustion
Natural gas (US avg.) is measured as average use per m3 in an US office.	Natural gas is used at Asetek's office in California. The physical location in California was closed down in september 2023.
SCOPE 2	SCOPE 2
Electricity location-based	Electricity location-based
Electricity Denmark 125 is based on consumption measured by electricity meter data.	Since year 2021 wind energy has been used for Asetek's location in Denmark. For the years 2022, 2023
Electricity China is estimated as average of electricity consumption per capita multiplied by number of FTEs.	and 2024 respectively, the reported amount of electricity of the type Electricity Denmark 125 covers
Electricity Taiwan is estimated as average electricity consumption based on electricity invoices.	electricity used for company-owned electric cars.
Electricity US/CAMX is estimated as average electricity consumption per capita multiplied by number of FTEs.
Electricity Green	Electricity Green
Electricity Wind is measured as total use of electricity at Asetek's location in Aalborg.	Wind energy has been used for Asetek's location in Aalborg East since the beginning of 2021 and on Asetek's new headquarters in Aalborg since june 2022 .
DH Nordic locations	DH Nordic locations
District Heating DK / Aalborg is based on reports from Asetek's district heating distributor in Aalborg.	District heating is only used at Asetek's headquarters location. Since Asetek moved to the new headquar ters in September 2024, but in an overlapping period has been renting the prevoius headquarters loca tion in Aalborg East, the consumption of district heating has increased signififanctly from 2023 to 2024.

KPI/CATEGORY	COMMENTS
SCOPE 3 (ASETEK)	SCOPE 3 (ASETEK)
Goods transportation (up-/ downstream)	Goods transportation (up-/downstream)
Transport of goods is measured as tCO2e and was for the years 2023 and 2024 primarily derived from activity	The level of transport of goods is considered unchanged from year 2023 to year 2024. The Decrease was
based supplier data.For the years 2020, 2021, 2022 and partly 2023 and 2024 data was calculated using a spend-based method.	mainly due to less transportation by air in 2024 compaired to 2023.
Business Travels	Business Travels
Ground transportation travel (Taxi) is measured in kilometres from taxi receipts registered in the system. For receipts where kilometres are not stated the expense from the receipt is converted into kilometres by following calculation; expense minus drop charge after which the remaining of the expense is divided by average price per kilometres for the respectively geographical area.	The level of ground transportation (taxi) has decreased from 2023 to 2024, but is considered a high level. The high level of ground transportation (taxi) was mainly due to supplier visits in regard to new collabo rations and outsourcing of more of the SimSports production, in 2024, including ground transportation in regard to training, tesing and quality checking.
Ground transportation travel (others) is measured as kilometers travelled by Train, Car, Bus, etc. Kilometers is measured through receipt and invoicing, extracted from Asetek's ERP system.	The level of Ground transportation (others) has decreased from 2023 to 2024 but is considered to be on a high level compaired to prevoius years. The high level of ground transportation (others) is mainly driven by the increase in supplier visits in regard to new collaborations and outsourcing of more of the SimSports production, in 2024, including ground transportation in regard to training, tesing and quality checking.
Sea travel is accounted for through receipt and invoing for sea travels in Asetek's ERP system.
Flights is accounted as the total number of flights; domestic, continental, intercontinental, travelled by Asetek's employees. The numbers are based on expenses and invoicing for flights, extracted from Asetek's ERP system.	The level of flight travels in 2024 is considered to be at same high level as for 2023. The high level of flight travels is primarily caused by supplier visits in regard to new collaborations and outsourcing of more of the SimSports production, in 2024, this includes domestic, continental and international flights in regard to training, tesing and quality checking.
Hotel nights is accounted as the total number of nights spend by Asetek's employees at hotels. The numbers are based on expenses and invoicing for hotels extracted from Asetek's ERP system.	The increase in hotel nights is primarily caused by an increase in supplier visits in regard to new collab orations and outsourcing of part of the SimSports production, this includes hotel nights related to visits due to training, tesing and quality checking.

KPI/CATEGORY	COMMENTS
Waste and water	Waste and water
Residual waste is based on residual waste, reported as collected by the waste collection agency for the location	The decrese in residual waste, incinerated, from 2023 to 2024, was mainly driven by the amount of
in Aalborg. For Asetek's locations in California, Xiamen and Taipei residual waste is calculated as average of	products produced at Asetek's own location in year 2024. The decrease is partly caused by a higher level
residual waste per capita multiplied by numbers of employees respectively at each location.	of outsourcing of the production during the year and partly by enhancement of data quality.
Paper waste, recycled is based on numbers reported by the waste collection agencies.	The decrease in paper waste, recycled, from 2023 to 2024 was mainly driven by a higher level of out sourcing of Asetek's production during year 2024 and partly by enhancement of data quality.
Metal waste, recycled is a total of cobber and metal waste. Amounts is conducted from Aseteks waste collec	The increase in metal waste, recycled from 2023 to 2024 was mainly driven by enhancement of data
tion agencies.	quality.
Waste water treatment is calculated as average water use per capita respectively in Asetek's locations in Aal borg, California and Taipei multiplied by number of FTEs. For Asetek's location in Xiamen the actual water use is measured.	The level of waste water treament has increased from 2023 to 2024. This increase was primarily due to our relocation to Asetek's new and larger headquarters in September 2024.
Packaging waste generated from production (Location DK)	Packaging waste generated from production (Location DK)
Cardboard virgin is measured as total kilos of cardboard used for product packaging. It is calculated as weight of	The increase in cardboard virgin, from 2023 to 2024, was due to a change of the product mix of sold
cardboard used for each type of product, multiplied by number of sold products of each of these types.	products.
Plastic avg. (virgin) is measured as total kilos of plastic used for product packaging. It is calculated as weight of	The increase in plastic avg. (virgin), from 2023 to 2024, was due to a change of the product mix of sold
plastic used for each type of product, multiplied by number of sold products of each of these types.	product.
Pallet wooden EUR, reused is counted as number of pallets purchased, for 2024, for prevoius years the number of purchased pallets was multiplied by weight of pallets. All pallets are collected for reuse.	The level of pallet wooden EUR, reused was unchanged from 2023 to 2024.
Product materials (Location DK)	Product materials (Location DK)
Electrical items - small is measured as total weight of electronic components used in products produced by	The decrease in Electrical items - small was mainly caused by the higher level of outsourcing of Asetek's
Asetek's production in Denmark.	production of SimSports products during year 2024.
Cable, unspecified is measured as total weight of cables used in products produced by Asetek's	The decrease in Cable, unspecified was mainly caused by the higher level of outsourcing of Asetek's
production in Denmark.	production of SimSports products during year 2024.
Polyurethane fabric (T1-4) is measured as total weight of polurethane fabric used in products produced by	The increase in polyurethane fabric (T1-4) was due to a broader selection of Rims launched in 2024,
Asetek's production in Denmark.	these Rims were produced at Asetek's production in Denmark.
Steel, stainless is measured as total weight of stainless steel used in products produced by Asetek's	The decrease in steel, stainless was mainly caused by the higher level of outsourcing of Asetek's produc
production in Denmark.	tion of SimSports products during year 2024.
Aluminum is measured as total weight of aluminum used in products produced by Asetek's	The decrease in Aluminium was mainly caused by the higher level of outsourcing of Asetek's production
production in Denmark.	of SimSports products during year 2024.
Plastic avg. is measured as total weight of plastic used in products produced by Asetek's	The decrease in plastic avg. was mainly caused by the higher level of outsourcing of Asetek's production
production in Denmark.	of SimSports products during year 2024.
Copper cathode is measured as total weight of copper used in products produced by Asetek's production in	The decrease in copper cathode was mainly caused by the higher level of outsourcing of Asetek's pro
Denmark.	duction of SimSports products during year 2024.
Rubber, EPDM is measured as total weight of rubber used in products produced by Asetek's production in	The decrease in rubber, EPDM was mainly caused by the higher level of outsourcing of Asetek's produc
Denmark.	tion of SimSports products during year 2024.

KPI/CATEGORY	COMMENTS
SCOPE 3 (TIER 1 SUPPLIER)	SCOPE 3 (TIER 1 SUPPLIER)
Business Travel	Business Travel
Ground transportation travel (Taxi) is meaured as kilometers travelled reported by tier 1 suppliers
Ground transportation travel (Others) is meaured as kilometers travelled with train, bus or rental car, reported	The increase in other type of ground transportation travel is mainly caused by more activity at Asetek's
by tier 1 suppliers.	tier 1 suppliers in relation to more of the SimSports production being outsourced in 2023 and 2024 respectively.
Sea travel is meaured as kilometers of travelled, reported by tier 1 suppliers.
Air travel is measured as number of flights reported by tier 1 suppliers.	The level of air travel has slightly descreased from year 2023 to year 2024.
Hotel nights, world is meaured as number of nights reported by tier 1 suppliers.	The level of Hotel nigths has slightly descreased from year 2023 to year 2024.
Waste	Waste
Residual waste, incinerated is measured as total residual waste from suppliers, divided by their share of reve nue obtained through Asetek.	The decrease in residual waste, from 2023 to 2024, was partly due to a lower product turnover in 2023 compared to previous year and partly due to suppliers calculation method, where suppliers total consumption is divided by revenue per their customers.
Mixed waste, recycled is based the total of paper waste, recycled from suppliers productions, divided by their
share of revenue obtained through Asetek.
Electricity	Electricity
Electricity China is measured from electricity meter, located at the Asetek related productions.	In 2024, the increase in both Electricity China and Electricity Malaysia (upstream) was attributed to the
Electricity Malaysia (upstream) is measured from electricity meter, located at the Asetek related productions.	increased outsourcing of SimSport production to tier 1 suppliers.
Electricity renewable is measured as supplier's total use of electricity, divided by the percentage of electricity	From 2023 to 2024, tier 1 suppliers consumption of electricity derived from renewable energy sources
use that can be covered by suppliers own solar power.	has increased significantly
Packaging waste generated from production	Packaging waste generated from production
Cardboard virgin was measured as total kilos of cardboard used for product packaging of Asetek products. It	The decrease in cardboard virgin, from 2023 to 2024, was mainly due to a lower product turnover in
was calculated as weight of cardboard used for each type of product, multiplied by number of sold products of	2024 compaired to 2023.
each of these types.
Plastic avg. (virgin) was measured as total kilos of plastic used for product packaging of Asetek products. It was	The decrease in plastic avg. (virgin), from 2023 to 2024, was mainly due to a lower product turnover in
calculated as weight of plastic used for each type of product, multiplied by number of sold products of each of these types.	2024 compaired to 2023.
Cardboard, recycled (CL) was measured as total kilos of reused cardboard used by suppliers in product packag	The decrease in cardboard, recycled (CL), from 2023 to 2024, was mainly due to a lower product turno
ing of Asetek products, for one of the tier one suppliers for the other supplier, it was measured as total use of reused cardboard divided by revenue obtained throught Asetek.	ver in 2024 compaired to 2023.

KPI/CATEGORY	COMMENTS
Product materials	Product materials
Electrical items - small is measured as total weight of electronic components used in products produced by tier 1 suppliers, for Asetek.	The increase in electrical items-small, from 2023 to 2024, was due to the higher level of outsourcing of the SimSports production to tier 1 suppliers.
Polyurethane fabric (T1-4) is measured as total weight of polurethane fabric used in products produced by tier 1 suppliers, for Asetek.	The increase in polyurethane fabric (T1-4), from 2023 to 2024, was due to the higher level of outsourc ing of the SimSports production to tier 1 suppliers.
Cable, unspecified is measured as total weight of cables used in products produced by tier 1 suppliers, for Asetek.	The increase in cable, unspecified, from 2023 to 2024, was due to the higher level of outsourcing of the SimSports production to tier 1 suppliers.
Copper cathode is measured as total use of copper in kilos for products produced by tier 1 suppliers, for Asetek.	The decrease in copper cathode, from 2023 to 2024, was mainly due to a lower product turnover in 2024 compaired to 2023.
Rubber, EPDM is measured as total use of rubber in kilos for products produced by tier 1 suppliers, for Asetek	The decrease in rubber, EPDM, from 2023 to 2024, was mainly due to a lower product turnover in 2024 compaired to 2023.
Steel, stainless is measured as total use of stainless steel in kilos for products produced by tier 1 suppliers, for Asetek	The increase in steel, stainless, from 2023 to 2024, was due to the higher level of outsourcing of the SimSports production to tier 1 suppliers.
Aluminum is measured as total use of aluminum in kilos for products produced by tier 1 suppliers, for Asetek	The decrease in aluminum, from 2023 to 2024, was mainly due to a lower product turnover in 2024 compaired to 2023.
Plastic avg. is measured as total use of plastic in kilos for products produced by tier 1 suppliers, for Asetek	The decrease in plastic avg., from 2023 to 2024, was mainly due to a lower product turnover in 2024 compaired to 2023.

SOCIAL DATA
Health and safety	Health and safety
Sick leave (Days/FTEs) is accounted as hours of employee absence converted into days divided by FTEs. The numbers are extracted from Asetek's time registration system and includes all short- and long-term illness and child sickness. Maternity or paternity leave is not included.	The figures for Sick leave (Days/FTEs) were recalculated for previous years due to errors found in the calculations and due to change in the calculation method following the requirements from EU's new requirements. The level of Sick leave (Days/FTEs) has decreased.
Work accidents is defined as injuries occurred during working hours at Asetek's locations. The injury is accounted for when it has been reported as an occupational injury by the employee and can be classified as loss time injury.	In 2024, two work related injuries was reported. In the event of injuries, our safety committee always assess how to prevent similar future injuries.
Diversity
Headcount is measured as number of employees at the end of the fiscal year. Headcount is reported per location and as a total.
Share of women in the workforce is measured as women in the workforce at the end of the financial year divided by headcount. The data point is reported per location and as a total.

KPI/CATEGORY	COMMENTS
People
Share of employees having benefited from an awareness program on the code of ethics is accounted as percent of employees that, during the reporting period have received Asetek's code- of-etichs.
FTEs is measured as the active workforce counted in full-time positions.
Non-permanent workforce at the end of the financial year is accounted as employees who have a pre-deter mined end date on their work contract or has agreed to work only for a limited period of time (limited tenure).
Number of permanent employees hired for the period is accounted as hires of employees, who doesn't have a pre-determined end date on their work contract or is employeed for a indefinite period (unlimited tenure).
Number of permanent employees departures is accounted as departures of employees, who doesn't have a pre-determined end date on their work contract or is employeed for a indefinite period (unlimited tenure).
Share of non-permanent staff is defined as the employees who have a pre-determined end date on their work contract or has agreed to work only for a limited period of time (limited tenure), divided by headcount.
Share of employees who benefited from an annual individual interview is accounted as percent of emloyees having benefited from an annual individual interview during the reporting period.
Employee turnover rate is measured as as employees who has left the company during the reporting period, divided by headcount.
Share of employees with 5 years or more service, is calculated from the employee's date of joining Asetek (irre spective of whether the employee has taken maternity or long-term sickness leave). The calculation is made at the end of the financial year.
The number of employees at each of the three age intervals reported is collected in absolute numbers and are divided by headcount. The age intervals used are:
Share of employees at age <30
Share of employees at age 30-50
Share of employees at age 50<
Education
Education hours is measured as registered number of hours used on education/training. The number of hours is extracted from Asetek's time registration system. The number of hours is divided by FTE's.
Education expenses is measurd as cost used for education/training. The number is extracted from Asetek's ERP system.
Average number of training hours per employee.
Share of employees who benefited from a training during the financial year is measured through Asetek's time registration system.
GOVERNANCE DATA	GOVERNANCE DATA
Inquiries reported via whistle-blower website is collected through Asetek's whistleblower system. Share of women in board level positions is reported in both number and percentage of women in board level positions.