Afarak Group — Audit Report / Information 2024

Mar 28, 2025

ASSURANCE REPORT ON THE SUSTAINABILITY REPORT

To the Annual General Meeting of Afarak Group SE

We have performed a limited assurance engagement on the group sustainability report of Afarak Group SE Corporation (business identity code 0618181-8) that is referred to in Chapter 7 of the Accounting Act and that is included in the report of the Board of Directors for the financial year 1.1.-31.12.2024.

Opinion

Based on the procedures we have performed and the evidence we have obtained, nothing has come to our attention that causes us to believe that the group sustainability report does not comply, in all material respects, with

• 1) the requirements laid down in Chapter 7 of the Accounting Act and the sustainability reporting standards (ESRS);
• 2) the requirements laid down in Article 8 of the Regulation (EU) 20201852 of the European Parliament and of the Council on the establishment of a framework to facilitate sustainable investment, and amending Regulation (EU) 2019/2088 (EU Taxonomy).

Point '1 above also contains the process in which Afarak Group SE has identified the information for reporting in accordance with the sustainability reporting standards (double materiality assessment) and the tagging of information as referred to in Chapter 7, Section 22 of theAccounting Act.

Our opinion does not cover the tagging of the group sustainability report with digital XBRL sustainability tags in accordance with Chapter 7, Section 22, Subsection 1(2), of the Accounting Act, because sustainability reporting companies have not had the possibility to comply with that provision in the absence of the ESEF regulation or other European Union legislation.

Basis for Opinion

We performed the assurance of the group sustainability report as a limited assurance engagement in compliance with good assurance practice in Finland and with the lnternational Standard on Assurance Engagements (ISAE) 3000 (Revised) Assurance Engagements Other than Audits or Reviews of Historical F i n ancial I nform atio n.

Our responsibilities under this standard are further described in the Responsibilities of the Authorized Group Sustainability Auditor section of our report.

We believe that the evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Other Matter

We draw attention to the fact that the group sustainability report of Afarak Group SE that is referred to in Chapter 7 of the Accounting Act has been prepared and assurance has been provided for it for the first time for the financial year 1.1 .-31.12.2024. Our opinion does not cover the comparative information that has been presented in the group sustainability report. Our opinion is not modified in respect of this matter.

Authorized group sustainability auditor's lndependence and Quality Management

We are independent of the parent company and of the group companies in accordance with the ethical requirements that are applicable in Finland and are relevant to our engagement, and we have fulfilled our other ethical responsibilities in accordance with these requirements.

The authorized group sustainability auditor applies lnternational Standard on Quality Management ISQM i, which requires the authorized sustainability audit firm to design, implement and operate a system of quality

www.t ietot i li.f ⁱ

Vanha Kaarelantie 33A, 0161O Vantaa, Finland TEL: +358 (O)9 7253 OSOO Y-TUNNUS/BUS|NESS lD: O98O2O9-3 EMAIL: asiakaspalvelu@tietotili.fi Tietotili Audit Oy (HLB Tietotili) - Tilintarkastusyhteisö - Authorised Public Accountants HLB Tietotili (Tietotili Audit Oy) is a member of HLB international, the global advisory and accounting network

management including policies or procedures regarding compliance with ethical requirements, professional standards and applicable legal and regulatory requirements.

Responsibilities of tlre Board of Directors and the Managing Director

The Board of Directors and the Managing Director of Afarak Group SE are responsible for:

• . the group sustainability report and for its preparation and presentation in accordance with the provisions of Chapter 7 of the Accounting Act, including the process that has been defined in the sustainability reporting standards and in which the information for reporting in accordance with the sustainability reporting standards has been identified as well as the tagging of information as referred to in Chapter 7, Section 22 of Ihe Accounting Act and
• o the compliance of the group sustainability report with the requirements laid down in Article B of the Regulation (EU) 20201552 of the European Parliament and of the Council on the establishment of a framework to facilitate sustainable investment, and amending Regulation (EU) 2O1912O8B',
• . such internal control as the Board of Directors and the Managing Director determine is necessary to enable the preparation of a group sustainability report that is free from material misstatement, whether due to fraud or error.

Inherent Limitations in the Preparation of a Sustainability Report

The preparation of the group sustainability report requires a materiality assessment from the company in order to identify relevant disclosures. This significantly involves management judgment and choices. Group sustainability reporting is also characterised by estimates and assumptions, as well as measurement and estimation u ncertainty.

ln addition, when reporting forward-looking information, the company must make assumption about possible future events and disclose the company's possible future actions in relation to these events. The actual outcome may be different because predicted events do not always occur as expected.

Responsibilities of the Authorized Group Sustainability Auditor

Our responsibility is to perform an assurance engagement to obtain limited assurance about whether the group sustainability report is free from material misstatement, whether due to fraud or error, and to issue a limited assurance report that includes our opinion. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the decisions of users taken on the basis of the group sustainability report.

Compliance with the lnternational Standard on Assurance Engagements (ISAE) 3000 (Revised) requires that we exercise professionaljudgment and maintain professional skepticism throughout the engagement. We also:

• . ldentify and assess the risks of material misstatement of the group sustainability report, whether due to fraud or error, and obtain an understanding of internal control relevant to the engagement in order to design assurance procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the parent company's orthe group's internalcontrol.
• . Design and perform assurance procedures responsive to those risks to obtain evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

www.tietotili.f ⁱ

Vanha Kaarelantie 33A, 01610 Vantaa, Finland rEL: +358 (O)9 7253 OSOO Y-ruNNUs/BUslNEss lD: O98O2O9-3 EMAIL: asiakaspalvelu@tietotili.fi Tietotili Audit Oy (HLB Tietotili) - Tilintarkastusyhteisö - Authorised Public Accountants HLB Tietotili (Tietotili Audit Oy) is a member of HLB international, the global advisory and accounting network

Description of the Procedures That Have Been Performed

The procedures performed in a limited assurance engagement vary in nature and timing from, and are less in extent than for, a reasonable assurance engagement. The nature, timing and extent of assurance procedures selected depend on professional judgment, including the assessment of risks of material misstatement, whether due to fraud or error. Consequently, the level of assurance obtained in a limited assurance engagement is substantially lower than the assurance that would have been obtained had a reasonable assurance engagement been performed.

Our procedures included for ex. the following:

• r We have interviewed the management of Afarak Group SE and persons responsible for collecting and reporting the information included in the group sustainability report.
• r We gained understanding of the processes related to collecting and consolidating sustainability information.
• r We acquainted ourselves to the background documentation and other records prepared by Afarak Group SE, as appropriate and assessed how they support the information included in the sustainability report.
• o We assessed whether the group sustainability report in material respect meets the requirements of ESRS standards for material sustainability topics.
• r We evaluated the implementation of the company's double materiality assessment process against the requirements of ESRS standards and the compliance of the information provided for the double materiality assessment with ESRS standards.
• . We gained an understanding of the process by which Afarak Group SE has defined taxonomy-eligible and taxonomy-aligned economic activities and evaluated the regulatory compliance of the information provided.

Vantaa 28.3.2025

TietotiliAudit Oy

Authorized Sustainability Audit Firm

Urpo Salo, KRT

www.tietotili.f ⁱ

Vanha Kaarelantie 33A, 01610 Vantaa, Finland TEL: +358 (O)9 7253 OSOO Y-TUNNUS/BUS|NESS lD: O98O2O9-3 EMAIL: asiakaspalvelu@tietotili.fi Tietotili Audit Oy (HLB Tietotili) - Tilintarkastusyhteisö - Authorised Public Accountants HLB Tietotili (Tietotili Audit Oy) is a member of HLB international, the global advisory and accounting network