Cellularline

Environmental & Social Information • Aug 6, 2025

Translation from the Italian original which remains the definitive version

1

INDEX

INTRODUCTION 1.

CUSTOMER&USERS 5.

PEOPLE&COMMUNITY 6.

PRODUCT&PACKAGING 7.

ANNEXES 9.

⁴ 8.

GOVERNANCE ENVIRONMENT 65 211

5.1	Introduction

• 5.2 Customer Centricity
• 5.3 Future commitments

6

89

109

165

• 6.1 Introduction
• 6.2 Diversity, Equity & Inclusion
• 6.3 People development and enhancement
• 6.4 People Care
• 6.5 Occupational Health and Safety
• 6.6 Community support
• 6.7 Future commitments
• 6.8 GRI disclosure

3.1	Introduction
3.2	Purpose, Vision, Mission and Values
3.3	Our priorities and material topics
3.4	Stakeholder mapping and engagement
3.5	Business model

• 7.1 Introduction
• 7.2 Product quality and safety
• 7.3 Responsible and sustainable marketing
• 7.4
• 7.5 Supplier management
• 7.6 Future commitments
• 7.7 GRI disclosure

1.1 1.2	Letter to our stakeholders Methodologies and criteria for preparing the Report	6 9
2.	ABOUT US	13
2.1	Cellularline Group Highlights	13
2.2	Corporate data, Group composition, Administrative	17
2.3	Body, Shareholder disclosure Our history	25
3.	OUR STRATEGY	29

4.1	Sustainability Governance
4.2	Tax management
4.3	Future commitments
4.4	GRI disclosure

• 8.1 Introduction
• 8.2 Monitoring of environmental performance
• 8.3 Future commitments

• 8.4 GRI disclosure

• 9.1 External initiatives, memberships and associations

• 9.2 GRI reconciliation table
• 9.3 GRI Content Index

	211
	215
	227
	231
	235

Introduction	165
Product quality and safety	169
Responsible and sustainable marketing	177
Research, development and innovation as a strategy for sustainable development	185
Supplier management	195
Future commitments	203
GRI disclosure	207

89 93 105

109
113
119
127
137
143
151
155

235
241
245

11

Introduction

INTRO DUCTI ON

We are proud to present our fifth ESG Report, a concrete testimony to the sustainability journey that the Cellularline Group continues to pursue with determination, responsibility, and vision.

In 2024, too, we faced complex challenges, but we did so with the understanding that every step towards a more equitable, inclusive, and sustainable future represents an investment in the lasting value of our Group and the society in which we operate.

Our ESG commitment was further strengthened, driven by a strategy that integrates sustainability into every area of our business. We continued to work along the three fundamental lines of our transformation: Ecological Transition and Climate Neutrality, People Care, Diversity, Equity & Inclusion and Change System. These guidelines have translated into concrete actions in six key areas: Governance, People, Community, Suppliers, Environment and Customers.

In 2024, we made significant progress:

• Environment: we have expanded the use of recycled and recyclable materials in our products and packaging, further reducing our environmental impact. We have also launched new projects to measure and reduce emissions along the entire value chain.
• People: we have implemented the engagement plan that emerged from the 2023 listening project, with initiatives aimed at improving the wellbeing, training, and professional growth of our employees.
• Community: we have strengthened our partnerships with local authorities and non-profit organizations, actively contributing to social inclusion projects and supporting the most vulnerable segments of the population.
• Governance: we have consolidated transparency and accountability mechanisms, promoting a corporate culture increasingly oriented towards ethics and sustainability.

Letter to our stakeholders

Our purpose, "Youmanizing the devices' experience", continues to guide us: we want to make the technology experience more human, accessible and sustainable.

This means innovating responsibly, always putting people at the centre of our choices.

Looking to the future, we are determined to continue on this path, knowing that sustainability is not a finish line, but an ongoing journey. We will continue to actively engage all our stakeholders – employees, customers, partners, suppliers, and communities – because only together can we build a positive and lasting impact.

Christian Aleotti CEO

Methodologies and criteria for preparing the Report

Introduction

INTRO DUCTI ON

This document represents the fifth Sustainability Report (hereinafter also referred to simply as the "Report") of the Cellularline Group.

The reporting company is Cellularline S.p.A. with registered office at Via Grigoris Lambrakis 1/A, 42122 Reggio Emilia (RE), a privately-held joint-stock company listed on the Euronext STAR Milan market.

Cellularline's Sustainability Report is prepared in accordance with the GRI Standards published by the Global Reporting Initiative.

The annual reporting period refers to the calendar year from 1 January 2024 to 31 December 2024.

The reporting scope of the financial statements includes the parent company Cellularline S.p.A. and the following wholly-owned consolidated companies: Cellular Spain S.L.U, Systema S.r.l., Worldconnect AG, Coverlab S.r.l. and Peter Jäckel GmbH. It should be noted that the companies Cellular Inmobiliaria Italiana S.L.U., Cellular Immobiliaria Helvetica S.A., Cellularline USA Inc, Cellularline Middle East FZE, Cellular Swiss S.A. and Subliros S.L. are excluded as they are not significant for non-financial reporting purposes. Additional limitations with respect to this scope are appropriately noted later in the financial statements.

As recommended by GRI 1 of 2021, the 2024 Sustainability Report and the related KPIs present the data and information as of 31.12.2024 and the comparative data for 2023 and 2022. Any limitations with respect to comparative data and any restatements thereof are indicated in the individual paragraphs.

The GRI Standards require that the Sustainability Report contain information relating to aspects that are deemed material, meaning that they reflect the significant impacts for the organization from an economic, environmental, and social perspective and that are capable of substantially influencing the assessments and decisions of stakeholders.

Methodologies and criteria for preparing the Report

The data and information collection process for the preparation of this Report was managed in collaboration with the various company functions, with the aim of providing a clear and precise indication of the information considered significant for stakeholders according to the principles of "balance, comparability, accuracy, timeliness, clarity, and reliability" expressed by the GRI 1 Standards.

Unless otherwise indicated, the data and information in this Sustainability Report refer to the companies belonging to the Cellularline Group, as of 31 December 2024, wholly consolidated within the annual financial report.

Data relating to previous financial years are reported for comparative purposes only, in order to allow an assessment of the dynamic trend of the Group's activities over a medium-term time frame. Furthermore, with regard to the quantitative information reported in this document for which estimates were used, this detail is appropriately highlighted in the various chapters.

The 2024 Sustainability Report represents the tool for communicating the annual results of Cellularline's sustainability journey to its stakeholders.

This document is subject to external Limited Assurance by KPMG S.p.A. For the audit report, please refer to the final pages of this document.

ESG REPORT 2024 12

About us

ABOUT US

2.1

+30 years of history

+290 employees

+55 countries served

HQ Reggio Emilia

T
---	--

~31% of the annual turnover come from products launched in 2023

Net revenues 2024 164.3 mln

Revenues from Sales by product line

Revenues from Sales by geographical area

135.2 mln 8.4 mln 20.6 mln

Italy

International 87 mln

77.2 mln

2024 net financial debt

Adj. EBITDA Adj. net result 22.6 mln 8.6 mln 22 mln % of revenues 9,5%

% of revenues 5,2%

2023 35.4 mln

Change -13.4 mln

Highlights Cellularline Group

About us

2.1

ABOUT US

Founded in Reggio Emilia in 1990, our company has established itself as a European leader in the design and marketing of accessories for smartphones and tablets. We stand out as a point of reference in the technological and cre ative landscape, offering innovative solutions for multimedia devices.

Group composition

The Group consists of the following legal entities:

Cellularline S.p.A.: parent company un der Italian law with registered office at Via Lambrakis 1/A, Reggio Emilia, opera ting nationally and internationally in the design, distribution (including white-label) and marketing of accessories and devi ces for smartphones, tablets, wearables, audio products and solutions for mobile connectivity (automotive and micromobi lity). The company also has a permanent establishment in France, located at 91 Rue du Faubourg Saint-Honoré, Paris, which serves as the sales office for the French market, with a staff of five.

Cellular Spain S.L.U.: a wholly owned subsidiary incorporated under Spanish law with registered office in C/ Newton, 1 edificio 2 nave 1, 28914 Leganés (Madrid), which handles the distribution of Cellular line branded products in the Spanish and Portuguese markets.

Cellular Inmobiliaria Italiana S.L.U.: a wholly-owned subsidiary incorporated under Spanish law with registered office in Cl. Industrial N.50 Sur Edi 2 Nave 27, Leganés (Madrid), which owns a proper ty formerly used as Cellular Spain's ope rational headquarters, currently rented to third parties.

Cellular Immobiliare Helvetica S.A.: a wholly-owned subsidiary incorporated under Swiss law with registered office at Via Ferruccio Pelli 9, Lugano, owner of the property rented to the trading company Cellular Swiss S.A.

Corporate data

Group composition, Administrative Body, Shareholder disclosure

Cellularline S.p.A.

Registered Office Via Grigoris Lambrakis 1/A 42122 Reggio Emilia (RE) Italy

Legal information share capital Euro 21,343,189 fully paid-up

VAT reg. no. and Tax Code 09800730963

Economic and Administrative Register RE-315329

Certified e-mail address spa.cellularline@legalmail.it

ISIN IT0005244618

Corporate Website www.cellularlinegroup.com

Systema S.r.l.: a wholly-owned subsidiary incorporated under Italian law with registered office in Via della Previdenza Sociale 2, Reggio Emilia, operating in the European market for mobile phone accessories in the Telco channel.

On 18 December 2023, it resolved on the merger by incorporation of Pegaso S.r.l.

Worldconnect AG: a 90% owned company incorporated under Swiss law with registered office in Diepoldsau, global leader in the premium travel adapters segment. Founded in 2002, it operates internationally through the SKROSS and Q2 Power brands, as well as through OEM partnerships, offering a full range of universal and country-specific adapters and power accessories.

Coverlab S.r.l.: a 55% owned company incorporated under Italian law with registered office in Via Mantova 91/A, Parma, operating in the e-commerce sector through its proprietary site www.coverlab. com, specializing in the customization of Coverlab-branded smartphone accessories.

Subliros S.L.: a 80% owned company incorporated under Spanish law with registered office at C/ Jacquard 97, Sabadell (Barcelona), operating in the e-commerce sector through its proprietary site, focused on the customization of Allogio-branded smartphone accessories.

Cellularline USA Inc.: a wholly-owned subsidiary incorporated under the laws of the United States with registered office at 350 5th Avenue, Floor 41, New York, responsible for the distribution of Cellularline products in the U.S. and Canadian markets.

Peter Jäckel GmbH: a 60% owned company under German law with registered office in Alfeld (Lower Saxony), a historic player in the German smartphone accessories market, active for over 25 years with a consolidated distribution network in the consumer electronics sector. Acquired in January 2023.

Cellular Middle East FZE: a wholly-owned subsidiary incorporated in April 2023 and headquartered in Dubai, established to strategically position itself in the Middle Eastern market through the distribution of Cellularline branded products.

Cellular Swiss S.A.: a 50% owned company incorporated under Swiss law with registered office at Route de Marais 17, Box N.41, Aigle, active in the distribution of Cellularline products in the Swiss market.

Group structure

Cellularline S.p.A. - Subsidiaries

Board of Directors

Risk and Control Committee

Donatella Busso Alessandra Bianchi Paola Vezzani

Appointments and Remuneration Committee

Paola Vezzani Walter Alba Donatella Busso

Committee for Transactions with Related Parties

Antonio Luigi Tazartes	Chair
Christian Aleotti	Deputy Chair and CEO Executive Director
Marco Cagnetta
Donatella Busso	Independent Director
Paola Vezzani	Independent Director Independent Director
Alessandra Bianchi
Mauro Borgogno	Director
Marco Di Lorenzo	Director
Walter Alba	Independent Director
Laura Elena Cinquini	Independent Director

Donatella Busso Alessandra Bianchi Laura Elena Cinquini

Board of Statutory Auditors

Lorenzo Rutigliano Daniela Bainotti Paolo Chiussi Guido Prati Andrea Fornaciari

Supervisory Body

Anna Doro Alessandro Cencioni Ester Marino

Independent Auditors

KPMG S.p.a.

Chair and Director Director Director

Chair and Director Independent Director Director

Chair and Director Director Independent Director

Chair Statutory Auditor Statutory Auditor Alternate Auditor Alternate Auditor

Chair Member Member

Corporate and control bodies Administrative Body: BoD

Company listed on the Telematic Stock Market - STAR segment managed by Borsa Italiana S.p.A. Alphanumeric code: CELL. The share capital amounts to €21,343,189, divided into 21,868,189 ordinary shares (ISIN: IT0005244618).

Shareholder	% of voting capital
Christian Aleotti	12,37%
First Sicaf S.p.a.	7,77%
Quaero Capital S.A.	7,33%
Antonio Luigi Tazartes	7,19%

Table of significant shareholders *(situation as at 31.12.2024)

* Only entities with a shareholding of more than 5% taken into account

Our history About us

2.1

ABOUT US

Our history

"The Reggio Emilia-based company Cellular Italia S.p.a, founded in 1990 as a distribution company for the first mobile phones, launched the Cellularline brand in the 1990s"

1990 1995

2018

Cellular Italia S.p.a. is created.

A complete range of mobile telephone accessories is developed.

Business Combination with Growth and listing on the Italian stock exchange (AIM).

Historic move to the MTA market, STAR segment managed by Borsa Italiana S.p.a. and acquisition of SYSTEMA, a company specializing in the international telephone operator sector by supplying accessories for smartphones.

Three-year agreement with Altec Lansing for the co-design, production and distribution of audio products for the European market. Acquisition of WorldConnect AG, the global market leader in premium travel adapters under the Skross brand.

2005 2010

2015 2013

2021 2022 2023 2024

Cellular Italia becomes a group, also expanding its leadership into new distribution channels and new product segments.

Cellular Italia reaches distribution in more than 50 Countries worldwide.

The Interphone Business Unit is created, dedicated to the development and marketing of communication tools and accessories dedicated to the world of two-wheelers.

L Capital (Private Equity fund supported by LVMH) acquires the majority of the company, thereby launching an important growth

project.

The company reaches a European leadership position on the mobile device accessories market.

Acquisition of Coverlab, a brand with entirely online development and distribution, and the leading manufacturer of customized covers in Italy.

27

Acquisition of an 80% stake in Subliros SL, a Spanish e-commerce company specializing in custom smartphone accessories under the Allogio brand, and signing of the acquisition of a 60% stake in Peter Jackel, a major German smartphone accessories company.

The acquisition of Peter Jackel (with a 60% stake), a German company operating in the smartphone accessories sector, was finalised. Launch of the new brand Newrban, marking the entry into the e-mobility accessories market.

WorldConnect AG exercised its put option for a tranche of 10% of the company's share capital, with the exercise of the option Cellularline comes to hold a controlling stake of 90% in the company. The Shareholders' Meeting approved the amendment to Clauses 3, 15 and 21 of Cellularline's Articles of Association in order to acquire the legal status of a Benefit Corporation.

Cellularline S.p.A. Benefit corporation

Our Strategy

Cellularline S.p.A. Benefit corporation

In line with the sustainable development path undertaken by the company, we took a further significant step in 2024 by adopting the legal status of a Benefit Corporation. This choice reflects and reinforces, by formalizing it within the corporate purpose of the Articles of Association, our long-term commitment to creating social and environmental value for all stakeholders.

Benefit Corporations are companies that, in carrying out an economic activity, in addition to sharing profits, pursue one or more common-benefit goals and operate responsibly, sustainably, and transparently towards people, communities, territories, and the environment, cultural and social assets and activities, institutions, associations, and other stakeholders.

In 2016, Italy became the first country, after the United States, to introduce into its legislation the possibility for companies to adopt the status of Benefit Corporation, expressed in Law no. 208 of 28 December 2015.

What does Benefit Corporation mean? One or more purposes of Common

Benefit stated in the corporate purpose, which must be pursued as a legal obligation under the articles of association.

• The obligation, in management, to balance the interest of shareholders with the pursuit of the purposes of Common Benefit and the interests of stakeholders.
• The need to identify a person within the company responsible for the pursuit of the Common Benefit, as well as the Impact Manager.

The obligation to transparently communicate the pursuit of the Common Benefit with an annual report that also includes the measurement of the impact generated, according to external evaluation standards, on governance, employees, local stakeholders and the environment.

As a Benefit Corporation, we are committed to creating a structure that will enable us to pursue and manage benefits within Cellularline SpA in 2025. We are also committed to engaging other Group companies in this process, supporting them in incorporating appropriate clauses into their articles of association.

According to the law, Benefit Corporations present some new features

Being a Benefit Corporation is a legal tool to protect our mission well into the future and measure what matters, with clear objectives integrated into our Articles of Association. In particular:

The process of transforming into a Benefit Corporation began with a deep reflection on our vocation, answering the question "What is the reason, the fundamental purpose for which we exist?" As we asked ourselves, our thoughts naturally converged towards a single answer:

Protecting and aligning the mission

Through the addition to the Articles of Association, we have made explicit and formalized our focus on all stakeholders, balancing the interest of members and the interest of the community.

Measuring what matters

as early as 2021, we started measuring our results in terms of positive impact on society and the environment with the same thoroughness and rigour we have adopted for our economic and financial results. We are committed to continuing to report on our activities annually through an impact report, which describes both the actions taken and our plans and commitments for the future.

How did we decide to formalize our strategy at Cellularline S.p.A. as a Benefit Corporation?

Cellularline exists to amplify and simplify the user experience of technological devices. Through the talents of our people, ongoing research and innovation, and a shared vision with our partners, we create products and services that offer the best technology experience while respecting the environment.

We then defined our vocation in the areas of impact and Common Benefit purposes within which Cellularline S.p.A. has a direct impact and which have emerged as priorities. These direct actions and objectives consistent with the values expressed in our vocation and are defined as "Specific Purposes of Common Benefit".

Value for the environment and future generations

Progressively adapt the business and operational model towards achieving a climate-neutral economy, aligning with European climate neutrality goals and national targets for ecological transition

Value for the community through products and services

Prioritise the human dimension in innovation, aiming to design and develop the most effective products and services with minimal environmental impact, which fulfil people's needs and enhance the potential of technological experiences.

Human value

Foster the development of individuals' full potential by creating an environment that ensures their well-being, motivation, and engagement. Additionally, to maintain continuous cooperation with partners who share a common vision, ideas, and projects, to enhance the creation of social, environmental, and economic value across the entire ecosystem.

As a Benefit Corporation, Cellularline S.p.A. is re quired to annually measure the company's impact on people and the planet, using an international benchmark. Since 2021, we have been using the B Impact Assessment (BIA), a tool developed by the nonprofit B Lab and used by over 300,000 companies worldwide, to measure our profile and impact score.

Compared to previous years, in 2024 this tool al lowed us to pursue a dual purpose:

In particular, during 2024, thanks to the integra tion of some impact improvement actions, as Cel lularline S.p.A. we achieved 88.5 points (self-as sessment score).

How do we measure our impact ?

Report our impact on Cellularline S.p.A. as a Benefit Corporation.

Measure the Group's impacts, in or der to extend the evolution process to other Subsidiaries (a topic we will discuss within the report, reporting the scores achieved at Group level).

Score obtained with the measurement tool (score from the BIA self-

assessment)

Employers area score

Governance area score

Community area score

Customers area score

Environment area score

26,1

Purpose, Vision, Mission and Values

Our Strategy

Purpose YOUmanizing the devices' experience

This Purpose clearly embodies our firm belief that it is the human being who makes the difference and not just technological development. Intercepting the new needs and requirements of end-users through sustainable innovation and our know-how is at the core of the Group's activities. Indeed, it is the virtuous interaction between human and technological components that can make the difference for a healthy development.

In this sense, humanising the technological experience and making it accessible to everyone takes on a solid and pragmatic meaning of social and environmental responsibility that the Cellularline Group takes on.

Manifesto

We believe that without humanity, the power of Digital is nothing.

We believe in intuition, serious skills and continuous improvement in technology and people.

We believe that the real value of a product lies in the study and in the design of ingenious features, because they are based on real needs: yours.

We believe in partnership and in synergistic processes that allow to design better solutions, shared solutions. We believe that respect must be mutual and comprehensive and supported by concrete, measurable and transparent actions, like ours.

We believe that innovation, in order to be real, must be Youman: accessible to everyone, and provide solutions for everyone, including you.

We are ready to break new ground every day: our market intentions, in addition to being end-consumer oriented, aim at continuous improvement of processes shared with our intermediate customers (B2B/Trade). Driven by ambition and a strong passion for innovation, we have defined our Group goals (vision) and how we can achieve them (mission).

Vision and Mission

Consumer

Vision

To become the leading Brand Group in the digital device accessories market, recognised for its ability to create effective, simple and sustainable solutions.

Mission

To feed a synergistic offer of Brands that, starting from people's needs, design and realise functional and sustainable solutions in order to make people live the full potential of the digital experience.

Vision

Continuously improve processes shared with our partners to personalise offerings and services through a strategic data driven and omnichannel approach.

Mission

To be the Partner of choice for long-term sustainable value creation in the digital device accessories market.

Values

Pro-Active Planning

To effectively respond to the challenges of a world that changes so rapidly, we develop partnerships and synergetic processes that allow us to design better solutions, because they are based on continuous comparison and sharing.

Knowledge and Proactivity

Since 1990, we have continued to analyse and deeply understand our customers' needs and market trends to create true innovation.

Meaningful Value (For money)

The value of our products and services is the result of our commitment and responsible choices to ensure the highest quality and tangible benefits.

Ingegnous Semplification

We are committed to developing effective solutions that simplify people's lives through an approach that combines intuition, ingenuity and style.

360° Respect

Every action we take is guided by a concrete principle of all-round sustainability: having a positive impact on society, the environment and our stakeholders.

GUTS (Engagement and Commitment)

The foundation of everything we do is people, not resources. People who infuse their work not only with skills and abilities, but also with passion and emotion.

Our priorities and material topics

Our Strategy

In the context of non-financial reporting, the materiality assessment is a key strategic element aimed at identifying the economic, environmental, social and governance (ESG) topics most relevant to the organization and its stakeholders.

In line with the approach adopted in the previous year, the analysis was conducted according to the GRI Universal Standards 2021, with particular reference to GRI 3 - Material Topics, which defines the methodology based on the concept of "impact materiality".

Under this approach, the relevance of topics is determined according to the impacts positive or negative, actual or potential, short or long term - that the company's activities generate or may generate on the economy, the environment and people, including human rights, from an inside-out perspective.

During 2023, Cellularline Group management was involved in a structured process of identifying and evaluating material topics to ensure strategic alignment between corporate priorities and stakeholder expectations. For the 2024 financial year, the Group confirmed the assessment carried out during 2023 and therefore there have been no significant changes in terms of impacts and related material topics reported in this document.

The assessment was conducted using an external impact perspective, with the aim of identifying the issues of greatest relevance to Top Management, with a view to creating sustainable value and transparent accountability.

Following recent regulatory developments, the Cellularline Group has launched an initial the materiality assessment exercise according to the principle of Dual Relevance, as defined by the new CSRD (Corporate Sustainability Reporting Directive) and the ESRS (European Sustainability Reporting Standards), which will be completed by 2025. Through this activity, the Group intends to extend the current analysis carried out according to the GRI Standards, so as to also intercept risks and opportunities that could impact the Group from the external context.

However, for the purposes of reporting for FY 2024, it was deemed necessary and consistent to refer to the materiality assessment in place as of 31 December 2024.

Our priorities and material topics

Reference context analysis

ESG REPORT 2024 ^{48 49 + + =} A structured analysis was conducted on three levels—internal, sector benchmark, and contextual—with the aim of identi fying the topics relevant to the Cellularline Group, taking into account the nature of its activities, business relationships, the sustai nability context in which the organization operates, and the expectations expressed by key stakeholders. The activity involved a systematic comparison with the results of the materiality analysis of the previous year, in order to validate and update the material topics already identified, verifying the persistence of their relevance or the emergence of new priorities in relation to the evolution of the internal and external context..

Impact classification

For each of the relevant topics that emer ged from the materiality analysis, the po sitive and negative, current and potential, impacts generated by the Group's activities were identified and analysed. The impact mapping was subsequently subjected to a validation and integration process, through

the direct involvement of Cellularline ma nagement, to ensure the accuracy, consi stency, and relevance of the assessments carried out with respect to the organiza tion's operational and strategic context.

Impact assessment

As part of the materiality assessment pro cess, one-to-one interviews were con ducted with members of the Group's management, aimed at qualitatively and quantitatively assessing the impacts asso ciated with each relevant topic. Each im pact was scored based on two analytical dimensions: the magnitude of the impact (i.e., the intensity of the consequences ge nerated) and the probability of occurrence (i.e., the likelihood that the impact will oc cur). This approach allowed us to build a solid foundation for the subsequent priori tization of material topics.

Identification of material topics

In order to update the material topics, we used a methodological approach based on the innovations introduced by standard GRI 3 - Material Topics .

Prioritising impacts and grouping material topics

The collected assessments were subse quently aggregated for each material to pic, in order to determine a synthetic signi ficance index. This index was calculated as the product of the magnitude and pro bability of occurrence of the impacts asso ciated with each theme. This quantitative approach allowed us to objectively measu re the overall relevance of each topic and support a structured prioritization process, functional to the definition of the Group's sustainability strategies.

Stakeholder identification

Each impact was scored on the basis of two analytical dimensions:

Guiding questions for the assessment

Participants were asked to make a structured jud gement in response to the following questions:

The assessment of the impacts associated with each material topic was conducted through individual interviews with the company's front-line ma nagers. Each manager analysed the impacts in relation to their area of expertise, while adopting the perspective of relevant external stakehol ders, consistent with the impact materiality approach (inside-out per spective). The aim was to assess the effects that each topic can generate on the economy, the environment and people, including human rights. ESG REPORT 2024 50 OUR STRATEGY | 3.3 OUR PRIORITIES AND MATERIAL TOPICS

Do you believe Cellularline's activities have a significant impact on the eco nomy, the environment, or people?

Probability of occurrence, estimated according to the time horizon within which the impact has already occurred or is likely to occur (e.g. within 3-5 years, over 10 years).

Scope: magnitude and spread of impact.

Significance: severity of the consequences generated.

Remediability: possibility of mitigating or compensa ting for the impact

-

Magnitude of the impact, assessed according to three main drivers:

How likely is it that such an impact will or could occur?

How severe would this impact be, in terms of consequences and scope?

ESG REPORT 2024 52 53

Our impacts Below is a description of the material topics and of the positive and negative impacts identified.		Environment People & Community Product & packaging Customer & Users Governance	Social initiatives	Support the territory with initiatives towards the community and local entities, as well as strengthen the relations with the various players in the territory throu gh partnerships, specific projects, etc.	Awareness-raising and support for local cultural initiatives and development of sustainability topics and employment ge neration in the local community.
Material topic	Description of topic	Main impacts generated	Sustainable Supply Chain	Responsible management of the supply chain	Assessment and management of nega tive environmental/social impacts along the supply chain and positive impacts in terms of transparency and traceability of their suppliers.
Climate change & Energy Efficiency	Ensure the efficient management of pro duction with the aim of limiting environ mental impact, with particular reference to greenhouse gas emissions.	Negative impacts on the environment from the generation of CO2 emissions in the course of its activities and along the value chain	Product quality and safety	Ensure a continuous supervision of the quality of the services offered by always guaranteeing safe and reliable products.	Negative impacts related to product non-compliance with quality and sa fety standards.
Environmental impact of products	Development of products using re newable and therefore environmental ly-efficient energy.	Positive impacts of implementing circular practices in order to reduce waste and the use of virgin raw materials.	Innovation and R&D	Ensure technological product innovation with the aim of responding to emerging trends	Satisfy continuously evolving needs, through ever new products and an ever more extensive and articulated offer.
Employee health and safety	Promote working conditions that ensure full respect for the right to health and pro tection of the physical and psychological integrity of employees and collaborators (e.g. contractors, suppliers, temporary wor kers).	Dissemination of a culture of safety and prevention among its employees and col laborators through appropriate protective measures to mitigate the negative impacts of occupational injuries and diseases.	Evolution of distribution channels	Ensure an ongoing commitment to the evolution of its distribution channels.	Increase the opportunities to meet con sumers by expanding sales and distribu tion channels.
Respect for Human Rights	Ensure the protection of human rights in ternally, consolidating a corporate culture against all forms of violence and discrimi nation.	Negative impacts from forced or child la bour practices.	Economic Performance and creation of added value	Value creation and satisfactory economic performance.	Creation of added value through the sale of proprietary products.
People care & employee development	Increase and enhance the professional value of employees through training and conscious management of human resour ces (e.g. welfare, benefits, supplementary health cover, flexible working hours and/or working from home).	Staff development and effective manage ment of professional enhancement with positive impacts on employee attraction and retention.	Privacy & Cyber Security	Respect the privacy of individuals with the aim of ensuring full trust in our activi ties and success in the digital world.	Loss of sensitive customer/supplier data.
Diversity, Equity & Inclusion	Guarantee equal opportunities for all workers, fostering an inclusive culture wi thin the workplace.	Dissemination of a DE&I culture and enhancement of equal opportunities, with positive impacts in terms of equal access to training	Ethical Marketing	Ensure communication towards the end user consistent with our purpose and va lues.	Adequate customer disclosure (e.g. mar keting activities, product labelling), in or der to enable informed decision-making.

Customer Centricity	Commit to meeting the needs of all cu stomers by offering quality products and services.	Ensure adequate complaint handling, with positive impacts in terms of impro ving the customer experience.
Anti - corruption and Business Ethics	Ensure that the necessary measures are in place to prevent the occurrence of corruption, including training and aware ness-raising initiatives on the topic.	Dissemination of the culture of ethics, in tegrity and transparency, mitigating any negative impacts arising from corruption and bribery offences and conflicts of in terest.

Below are the identified positive and negative, current and potential impacts that may influence the creation of corporate value.

Topics with negative impacts	Inside-out
Sustainable Supply Chain
Climate change & Energy Efficiency
Environmental impact of products
Product quality and safety
Employee health and safety
Privacy & Cyber Security
Anti - corruption and Business Ethics
Ethical Marketing
Respect for Human Rights
Topics with positive impacts	Inside-out
Innovation and R&D
Evolution of distribution channels
Diversity, Equity & Inclusion
Employee health and safety
People care & employee development
Environmental impact of products
Economic Performance and creation of added value
Social initiatives
Sustainable Supply Chain
Ethical Marketing
Customer Centricity

The topics were classified into five categories: environment, people & community, product & packaging, customer & users and governance.

The list below is the result of the analysis described above.

Data is presented by dividing the assessments of negative impacts from those of positive, prioritised impacts. However, for reasons of methodological compliance with GRI, both tables present the complete list of all material topics subject to assessment, net of the type of impact (positive and/or negative) associated with each of them at the identification phase.

In the light of these criteria, the most material topics with positive impacts thus appear to be:

• Innovation and R&D

• Evolution of distribution channels
• Diversity, Equity & Inclusion
• Employee Health and Safety

In the light of these criteria, the most material topics with negative impacts thus appear to be:

• Sustainable Supply Chain
• Climate change & Energy Efficiency
• Environmental impact of products
• Product quality and safety

Very significant and probable impact (overall assessment from greater than 10 to 16)

Significant and possible impact (overall assessment from greater than 6 to 10)

Moderate and unlikely impact (overall assessment of greater than 3 to 6)

Minor and rare impact (overall assessment from 1 to 3)

Stakeholder mapping and engagement

Our Strategy

Stakeholder mapping and engagement

The Group is committed to generating shared value for all strategic stakeholders with whom it interacts, including customers, business partners, suppliers, internal collaborators, and the broader community. We believe that building strong, ongoing, and transparent relationships with these stakeholders enables us to build trust and is a key factor building trust and a key factor in the effective implementation of our sustainability strategy.

In previous years, we launched a structured stakeholder mapping project, aimed at identifying and classifying the relevant players within our ecosystem. This activity has allowed us to gain greater awareness of the relational system in which we operate, to define a shared company-wide taxonomy, and to develop a stakeholder classification matrix, useful for highlighting the degree of relevance, involvement, and willingness to collaborate with respect to the Group's sustainability objectives.

Based on this analysis, a process was initiated to define a targeted engagement strategy, aimed at strengthening dialogue and cooperation with priority stakeholders, in order to maximize the effectiveness of the initiatives undertaken and promote a corporate culture based on sharing, transparency, and accountability.

The stakeholders identified were grouped into the following macro-categories:

External stakeholders

Internal stakeholders • Local communities • Customers • Suppliers • Competitors • Investors • Media • People

• Donations and initiatives in favor of Dynamo Camp, Gast Onlus, Fondazione Libellula, Grade Onlus and Croce Verde di Reggio Emilia. • Participation in events such as the Youth Festival and TEDx ReggioE-

• Internal surveys on sustainability engagement and climate topics.

• Creation of a cross-functional team dedicated to Diversity, Equity & Inclusion and release of corporate policy

• Involvement of the entire Group in training activities on the company's sustainability path, Code of Ethics and Diversity, Equity & Inclusion po-

• Inclusion of training in the onboarding of new hires.

• Projects to engage internal and external people through the maintenance of the Cellularline Oasis and the development of the Engagement Plan (sustainable mobility incentives such as carpooling incentives and public transport season tickets, increased paternity leave, SW

Stakeholder categories		Methods of engagement
	Community	milia
	People	licy.
		confirmation)
	Customers
	Suppliers	Supply Chain Evolution project.
	Media	initiatives and achievements.
	Competitor
	Investors	attentive to sustainability topics. website.

• Meetings with customers during events, with the aim of telling them about the sustainability strategy and establishing contact on possible projects to be developed together.

• Monitoring of sustainability practices implemented by Customers, with the aim of identifying possible areas of collaboration.

• Interviews with the press on ESG topics, with the aim of sharing the Group's strategy and the related action plan.

• Part of the LinkedIn editorial plan dedicated to communicating ESG initiatives and achievements.

• Monitoring of competitor sustainability practices, with the aim of identifying possible areas of improvement.

• Constant updating and application of principles/suggestions in the areas of corporate governance and sustainable success.

• Conference calls on financial results, participation in roadshows and industry conferences with bilateral and group meetings with institutional investors (both equity and debt), sharing feedback with investors attentive to sustainability topics.

• Renewal and enhancement of the Investor Relations section within our

• Construction of surveys dedicated to mapping good sustainability practices applied by suppliers and sharing of results.

• Engagement in building a new assessment framework as part of the Supply Chain Evolution project.

• Monitoring of sustainability practices carried out by suppliers, with the aim of identifying possible projects to be developed together.

• Collaborating with and supporting suppliers in difficulty.

We have identified specific engagement means for each stakeholder category, partly already implemented in 2022, which aim to ensure that stakeholders are listened to and develop collaborative projects to create value and promote sustainable development.

Business model Our Strategy

The value chain

The Group oversees the entire product life cycle, from concept to marketing, through an integrated operating model that combines core activities managed internally with outsourced, high-value-added processes. Internal strategic activities include product design and development, as well as the management of marketing and communication activities, entrusted to dedicated teams of Research & Development and Marketing Intelligence. These functions operate on the basis of a data-driven approach, oriented towards the analysis of market trends and technological developments, in order to anticipate consumer needs and ensure competitive time-to-market.

Production and logistics activities, on the other hand, are outsourced to selected external partners for operational flexibility and scalability. This model allows us to optimize production volumes and guarantee high quality standards, thanks to the selection of certified and technologically advanced suppliers.

• Analysis of user behaviour at local and international level
• Monitoring competitive dynamics and industry trends
• Development of marketing and trade marketing strategies
• In-house product design and development

• Speed and efficiency in go-tomarket processes

• Strategic management of the production supply chain

• Selection and certification of suppliers according to quality and innovation criteria
• Continuous renegotiation of contractual conditions
• Strategic partnerships and exclusive supply agreements • Quality controls during
• production and incoming deliveries

Marketing Intelligence and Research & Development

Production

• Strategic management of product categories
• Offer planning and segmentation
• Definition of pricing policies
• Assortment optimization by
• channel and customer • In-house production of digital content to support omnichannel communication

• Ongoing management of relations with logistics partners for storage and distribution
• Use of fully automated warehouses to ensure efficiency and traceability

Supply management and communication

Governance

2.1

Sustainability governance

"Effective change management is an essential prerequisite for the sustainable development of business activities, particularly in a rapidly evolving socioeconomic context. From this perspective, the Sustainable Innovation path undertaken by the Group is based on the definition and implementation of structured development strategies and plans at the Governance level, considered the driving forces for the evolution of the business model."

What we have done: our impact stories

Why do we exist? Our Purpose

Over the past financial year, we have consolidated the adoption and dissemination of our purpose, a cornerstone of our corporate identity and a strategic guide for our actions.

We believe that a clear definition of our raison d'être

allows us to strengthen our ties with the relevant ecosystem, promoting the recognition and distinctiveness of the Group's brands on the market.

This is not simply a value-driven exercise, but a concrete commitment to translating our guiding principles into operational objectives, consistent with our founding values. This approach is reflected in our continuous improvement programs for product sustainability, as well as in initiatives aimed at promoting the well-being of people working within the organization. Integrating purpose into corporate management is therefore a key element in creating shared and lasting value.

Value distributed by stakeholder category in 2024:

Strengthening the Group's strategy

Over the last financial year, we measured the Group's economic, social, and environmental performance to define a solid strategy, guided by the path of Cellularline S.p.A. and supported by the strong commitment of the Board of Directors and the direct involvement of the Board. This path is a continuation of the analysis and evolution of Cellularline S.p.A. The adoption of BIA at Group level has allowed us to systematically assess our impact areas and align the reporting process with the Global Reporting Initiative (GRI) standards, thanks to the collaboration protocol between B Lab and GRI.

With a view to promoting a sustainable and integrated development model, the Group is actively engaged with all stakeholders who contribute to the achievement of the company's objectives. We recognize the central role of these players in our ecosystem and, for this reason, we adopt an approach aimed at the equitable redistribution of the value generated, as a strategic lever to fuel a virtuous cycle of growth and innovation. The production and distribution of economic value – cal-

77,76% 15,25% 4,85% 2,08% 0,06%

Our sustainability report outlines the key impact areas analysed through the BIA, illustrating the results achieved and the most significant initiatives, along with the commitments made for the future.

culated as the difference between revenues and operating costs – is a key tool for measuring the wealth generated by a company, understanding how it is created, and analysing how it is allocated among various stakeholders.

In 2024, the Group generated an economic value of €172 million, an increase of 5% compared to 2023. This integrated approach allows for a balance between economic, environmental and social performance, reinforcing the coherence between corporate strategy and sustainability principles.

Suppliers Employees

Capital providers

Public Admin.

Communities

The B Impact Assessment (BIA) is an internationally recognized measurement tool for measuring the environmental, social and governance performance of organizations.

The model is divided into five main thematic areas, each of which analyses key aspects of the impact generated by the company:

Governance

People

Community

Environment

Customers & Users

It assesses the effectiveness and transparency of the corporate governance system, with a focus on the integration of social and environmental objectives into decision-making processes. Areas of analysis include: ethics and integrity, accountability, transparency in impact reporting, stakeholder engagement, and consistency between mission and operational practices.

It analyses the organization's contribution to the well-being of its employees through indicators related to remuneration policies, company benefits, training and professional development opportunities, occupational health and safety, and organizational

flexibility.

It examines the company's impact on the social and territorial fabric in which it operates. Evaluation criteria include diversity and inclusion, job creation, volunteering and philanthropy initiatives, local community relations, and responsible supply chain ma-

nagement.

It assesses the organization's overall environmental management, considering aspects such as energy efficiency, resource use, emissions, logistics, waste management, and environmental impacts along the supply chain. It also includes the design of products or services geared towards solving environmental problems, such as renewable energy production, reducing consumption or protecting biodiversity.

It analyses the positive impact generated by the products or services offered, in terms of social or environmental benefits for end users. The evaluation focuses on the effectiveness of the proposed solutions in addressing real needs and the company's ability to generate value for vulnerable or underserved groups.

⁶⁸ Governance area score

19

The Group's governance system is designed to generate sustainable value in the medium to long term, while ensuring transparency, accountability, and alignment with the expectations of key stakeholders. This system encompasses strategic guidance, management and control activities, and is inspired by the principles of the Corporate Governance Code for Listed Companies, to which the Group voluntarily adheres to ensure high standards of efficiency and accountability.

Our Administration and Control System

Shareholders' Meeting

The sovereign body of the company, it represents the collective interest of the shareholders. Pursuant to the provisions of the applicable laws, the ordinary Shareholders' Meeting approve the financial statements, appoint and revoke directors, auditors, the Chair of the Board of Auditors and establish the remuneration of the Directors and the Auditors. The Shareholders' Meeting resolves on all matters assigned to its competence by the law. The Extraordinary Shareholders' Meeting will resolve on amendments to the Articles of Association as well as any other issues which fall under its exclusive competence pursuant to the law.

Board of Directors ¹

Responsible for the strategic and operational management of the Company, the Board of Directors (hereinafter also referred to as the "BoD") consists of 10 members (6 men and 4 women), 2 of whom are executive and 8 non-executives.

The average age is 57.5 years. The Board of Directors has established three internal committees with advisory and investigative functions:

• Risk and Control Committee
• Appointments and Remuneration Committee
• Related Party Transactions Committee

Board of Statutory Auditors

A control and supervisory body, it monitors the work of the Board of Directors and its subsidiaries, paying particular attention to transactions that may have a significant impact on the results of operations, balance sheet or financial situation.It consists of five members (three full members and two alternates). One of the full members is a woman.

The average age of the members is 52.8 years.

Supervisory Body

Established pursuant to Legislative Decree 231/2001, the Supervisory Body (hereinafter also only "SB") is a collegial body reporting directly to the Board of Directors. It is responsible for overseeing the effective implementation and updating of the Organization, Management and Control Model. It consists of three members, two of whom are women, selected on the basis of requirements of autonomy, independence, professionalism and operational continuity.

We adopt an administration and control system based on the traditional model, including:

Members of the Board of Directors1 requirements

by gender and role and independence

Our committees

Appointments and Remuneration Committee

A body with advisory and proposing functions, the Committee supports the Board of Directors in assessing the appointment and definition of remuneration policies for directors and managers with strategic responsibilities. It consists of three independent non-executive directors, two of whom are female, aged between 52 and 66..

Related Party Transactions Committee

It is the body responsible for the analysis and evaluation of transactions with related parties. In the case of complex or particularly significant transactions, the Committee may call on the support of independent consultants to draw up expert opinions, fairness opinions or legal opinions. The Committee consists of three independent non-executive directors (all women) with an average age of 49.

Risk and Control Committee

It is responsible for defining the guidelines of the Internal Control and Risk Management System (hereinafter also referred to as "ICRMS"), verifying their adequacy with respect to the organizational structure, risk profile, and strategic objectives of the Company. It has consultation and proposal functions and is tasked with assisting the Board of Directors, having carried out adequate preliminary work, with the assessments and decisions of the Board of Directors relating to the internal control and risk management system, and those relating to the approval of the regular financial reports. The Committee consists of three independent

Common Benefit Management System and Impact Manager

As a Benefit Corporation, Cellularline S.p.A. has clearly assigned responsibilities for managing the Specific Common Benefit Purposes as required by law, defining a Common Benefit management system.

Impact Manager

The company's impact representative identified by the administrative body: the Impact Manager is responsible for coordinating all operational activities, involving all functions necessary to carry out planning, measurement/monitoring and reporting activities. For Cellularline S.p.A., Luisa Cataldo (Group HR Manager) was appointed as Impact Manager.

ESG Committee

A group that focuses on impact for more efficient management of the various impact areas: It supports the Impact Manager in the various activities; members have ownership of the individual actions related to their area of expertise. Further details on the ESG Committee are provided in the relevant section.

Board of Directors

It acts, like all directors, according to ordinary general principles, taking particular care, however, to balance the interests of shareholders, the pursuit of the Common Benefit Purposes stated in the

corporate purpose and the interests of stakeholders. ¹ The current members of the Board have been in office since 28/04/2023. Pursuant to the Articles of Association, directors hold office for a term, determined by the Shareholders' Meeting, not exceeding three financial years from the acceptance of the office; their term expires on the date of the Shareholders' Meeting called to approve the financial statements for the last financial year of their office and they may be re-elected

Our measures for responsible business mana - gement

Internal control and risk management system

The ICRMS consists of a set of rules, procedures, and organizational structures designed to ensure the effective identification, assessment, management, and monitoring of the main corporate risks. The system is designed for:

• ensure the efficiency and effectiveness of operational processes;
• ensure the reliability, completeness and timeliness of financial reporting;
• ensure regulatory compliance;
• protect company assets.

The ICRMS is consistent with international best practice and considers all major risk categories that could jeopardize the achievement of the Group's strategic objectives, thus contributing to the sustainable success of the organization.

Regulatory compliance and lntegrity

With the aim of strengthening corporate governance and preventing the risk of committing the offences provided for in the Legislative Decree 231/2001, the Board of Directors resolved, on 3 March 2018, to adopt the Organization, Management and Control Model. This tool is intended to ensure transparency, fairness, and integrity, protecting the company's reputation, shareholder interests, and the value of human capital. In 2022, the Model was substantially updated to improve its effectiveness and adherence to the current organizational structure. The new version is structured by business processes, replacing the previous approach based on offence categories, in order to facilitate greater operational identification by the functions involved. The control tools have been revised to ensure their practical applicability and added value for the organization. The adoption of an Organizational Model and the appointment of a Supervisory Board (SB) by a controlled company are currently being approved. In addition, each Group company has access to the online whistleblowing platform on Cellularline's

non-executive directors (all women) with an average age of 55. Each committee consists of at least 88% female independent directors.

ESG Committee

To strengthen the integration of sustainability into corporate governance, the ESG Committee was established, with oversight and strategic direction functions for active projects in the areas of Governance, People, Community, Suppliers, Environment, and Customers.

"We work with the whole team to build a new business model, in which business represents a positive force capable of generating virtuous impacts on people and the environment. "

The Committee consists of twelve members:

Christian Aleotti – CEO

Marco Cagnetta – General Manager Sales & Marketing

Luisa Cataldo – Group HR Manager

Michela Carpanoni – Sustainability Specialist

Mauro Borgogno – Group CFO

Giacomo Rizzi - Group Finance, Tax & Credit Director

Massimiliano Tarantino - Group Controlling & BI Director

Ester Marino – Group Legal Director

Alessio Lasagni – Marketing Director & Chief Digital Officer

Maurizio Bossi – Chief Operating Officer

Marco Barbiero – R&D Manager

Rocco Bonforte – Procurement Manager

corporate website to confidentially and securely report any non-compliant conduct. The aim is to ensure a consistent and integrated internal control system at Group level.

Training and Awareness

In 2024, the Group continued its training activities on the administrative liability of entities, with a focus on the prevention of corruption offences. The initiative is part of a broader program to disseminate the culture of compliance and ethical responsibility.

Powers and functions of the Supervisory Board

The Supervisory Board, endowed with autonomy, independence and continuity of action, exercises a supervisory role over the effective implementation of Model 231. It has wide-ranging powers, including:

• direct access to company documentation;
• cooperation with corporate functions and bodies;
• appointment of external consultants.

The Supervisory Board is also the recipient of reports of violations or suspected violations of the ethical and behavioural principles set forth in the Model. Reporting can be done in written or oral form, through the dedicated IT platform tool accessible via the following link https:// cellularline.integrity.complylog.com/or in paper form by sending a letter to the following address: Supervisory Board of Cellularline S.p.A.

c/o Cellularline S.p.a.

Via G. Lambrakis n. 1/A

42122 – Reggio Emilia

The portal, compliant with whistleblowing regulations, guarantees the whistleblower's protection from any form of retaliation.

Whistleblowing Procedure and Report Management

In 2023, the Supervisory Board adopted a new internal Whistleblowing procedure, in line with the provisions of the EU Directive, regulating the way whistleblowing reports are transmitted, received, analysed and managed.

All communications are treated with the utmost confidentiality. The Supervisory Board may rely on the support of the Internal Auditor and external consultants for preliminary activities. As a result of the reports received, the company can take corrective measures to remedy any legal or regulatory violations and prevent the recurrence of non-compliant conduct.

Information Flows and Monitoring

Over the years, periodic information flows have been structured and directed towards the Supervisory Board, aimed at:

supporting supervisory activities;

allowing retrospective analysis of the causes of any non-compliance;

continuously monitoring company operations.

Furthermore, semi-annual questionnaires were distributed for each risk area, completed by designated Key Officers, who participated in specific training sessions to ensure compliant management of sensitive data.

Code of Ethics

In parallel with Model 231, the Group has adopted a Code of Ethics, shared with all internal and external stakeholders. The document defines the values, ethical principles, and rules of conduct that guide the organization's operations, promoting transparency, accountability, and consistency with the company's value system.

The Code represents a fundamental reference for the development of a solid, inclusive, and sustainability-oriented corporate culture.

There were no incidents of corruption or other similar crimes in 2024.

Remuneration Policy

The Remuneration Policy adopted by the Group defines the principles, criteria, and guidelines governing the determination and application of remuneration practices for Directors, Managers with Strategic Responsibilities, and, in compliance with Article 2402 of the Italian Civil Code, members of the Board of Statutory Auditors. This policy also regulates the methods for monitoring its correct implementation.

The Policy was approved by the Shareholders' Meeting on 17 April 2025, upon proposal of the Nomination and Remuneration Committee and following a resolution of the Board of Directors on 10 March 2025.

The document was drafted consistently with the traditional governance model adopted by the Company, in accordance with the recommendations of the Corporate Governance Code and taking into account the provisions of Article 2.2.3 of the Regulations of the Markets organized and managed by Borsa Italiana S.p.A., as well as the related Instructions for STAR-qualified issuers.

For further details, please refer to the Remuneration Report available on the institutional website: www. cellularlinegroup.com.

Governance

2.1

What we have done: our impact stories

AEO certification

In 2022, the Group achieved AEO - Authorised Economic Operator - certification in the two components with the highest level of reliability (AA rating):

• AEOC (Customs Simplifications), relating to the simplification of customs procedures;
• AEOS (Security and Safety), referring to supply chain security.

The joint achievement of the AEOC and AEOS certifications, which constitute the AEOF (Authorized Economic Operator Full) status, represents formal recognition of the high level of regulatory and management compliance achieved throughout the entire supply chain. This result confirms the Group's ongoing commitment to strengthening its operational governance, ensuring that business processes are aligned with the standards required by customs and tax authorities, both nationally and internationally. The AEOF certifications were regularly maintained also in 2024, demonstrating the solidity and continuity of our internal control system and our ability to manage the risks associated with cross-border operations.

The Group's tax strategy reflects the principles, objectives, and commitments defined in internal procedures, which set out the expected standards of behaviour in tax matters. The Organization is strongly committed to operating with integrity, transparency, and regulatory compliance, pursuing long-term sustainable tax management. The Group ensures full compliance with tax regulations in all jurisdictions in which it operates, actively collaborating with tax advisors, auditors, and competent authorities to ensure the correct determination, declaration, and payment of taxes. Tax risk management is based on a low risk appetite, with the aim of avoiding any violation of current tax provisions.

Responsibility for tax management is entrusted to the Group Accounting, Tax and Credit Director, in coordination with the Group CFO, with the aim of ensuring operational efficiency and full compliance with applicable regulations. The Group's approach to tax planning is prudent: the Group does not adopt aggressive strategies or resort to structures lacking economic substance aimed at obtaining undue tax advantages.

However, where required by national regulations, the Group considers access to legitimate tax incentives to promote investment, employment and economic development. Tax choices are based on reasonable and well-founded interpretations, even in the presence of complex regulations. Tax risks are constantly monitored, analysed internally, and, where necessary, managed with the support of qualified consultants.tuazioni contingenti.

This allows corporate tax practices to be promptly adapted to regulatory developments and the guidelines of the relevant authorities.

The Group's tax contribution is divided into several tax categories, including:

Income taxes

(e.g. corporate income tax);

Property taxes

(e.g. property and real estate taxes);

Employment taxes

(e.g. contributions and withholdings paid on behalf of employees);

Indirect taxes

(e.g. VAT, excise duties, customs duties);

Taxes on real estate transactions

(e.g. sale or rental of real estate).

The Group's effective tax rate is influenced by the geographical distribution of pre-tax results and local tax regulations, as well as by any contingent factors that may affect the determination of the overall tax burden.

Governance

2.1

Future commitments

Our sustainable path is not characterized by having a specific goal, but rather by the continuous search for improvement. This is why we are committed to working in the coming years to progressively improve our performance with respect to people and the environment. In the coming year, we are committed to pursuing the

goals set out in the 2024 Impact Report, translating them into concrete objectives to be monitored through specific KPIs. This will allow us to transparently measure the results achieved and strengthen our positive social and environmental contribution.

With regard to professionalism, the Board of Directors recommends that an effective balance be ensured between the value of continuity and the need for constant renewal of the Board itself, achieving adequate diversification and complementarity of professional profiles.

• Integration of subsidiaries into the management and controls already adopted by the parent company (disclosure of the objective in the text)

• Pursuit of the actions envisaged in the impact report to achieve the Common Benefit goals

We intend to do this by following recognised patterns and monitoring advancements over time. We are committed to reporting information on our sustainability performance through the BIA and using the latest reporting standards for an effective sustainability action plan. We will continue to be characterized by our transparency and accessibility, thanks to which our stakeholders can always be updated about our path on the topic.

We will continue with our journey of enhancing what we do. We started with the definition of our purpose and we want to continue with the development and internal dissemination of a culture linked to shared values and sustainability.

For internal stakeholders, we are committed to structuring formal engagement actions and procedures, defining objectives and KPIs that can be used to monitor results over time.

Following the 2024 engagement survey, which guided the choice of the 2025 path, a new climate survey is planned for 2025, designed to assess the level of engagement and awareness of our people.

For external stakeholders, engagement will take place through dual materiality analysis, with the aim of identifying in a structured manner shared priorities and issues relevant to the company and the context in which it operates.

We want to continue with the inclusion of ESG goals in our incentive plan for managers and/or professionals.

Performance improvement

Benefit Corporation

General skills and professional features of Directors

Confirmed future commitments 2025

-

Monitoring and commitment

Corporate culture

Stakeholder engagement

Integration of ESG goals

4 4

Governance

2.1

Direct economic value directly generated and distributed	U.M.	2024	2023	2022
Direct economic value directly generated		172.016	163.432	143.977
Economic value distributed		(155.579)	(160.606)	(130.686)
Operating costs		(120.982)	(133.206)	(108.413)
Employee wages and benefits	€/000	(23.718)	(22.033)	(19.349)
Payments to providers of capital		(7.543)	(3.942)	(3.299)
Payments to the Public Administration		(3.240)	(1.310)	464
Community investments		(96)	(114)	(88)
Economic value retained		16.436	2.826	13.291

GRI Standard 201-1 - Economic value generated and distributed

GRI Standard 405-1 - Diversity of governance bodies

Members of the BoD by age group	u.m.	2024	2023	2022
< 30		0	0	0
30-50	N.	3	4	4
> 50		7	6	7
Total members of the BoD		10	10	11

Members of the BoD by gender	u.m.	2024	2023	2022
Men		6	6	8
Women		4	4	3
Total members of the BoD		10	10	11

CUSTO MER & END-USERS

2.1

Customer & End-Users

ESG REPORT 2024

Our corporate identity, both in our history and our vision for the future, is based on an unwavering commitment to listening to and understanding our customers' needs, with the creation of value through targeted solutions geared towards satisfying their needs at the centre of our strategies..

Customer & End-User BIA score as at 31/12/2024

Customer area score

3,8

In recent years, the competitive context has undergone a profound transformation, characterized by an acceleration in technological and commercial innovation processes, as well as by a growing attention from stakeholders towards environmental and social sustainability issues. In this scenario, our commitment is to maintain an active and distinctive role, contributing to the sustainable development of the industry and proactively responding to evolving customer needs.

Our strategy is based on the synergetic integration of two fundamental directions: the adoption of advanced technologies and the reduction of the environmental and social impact of our activities.

The aim is to develop innovative solutions that combine performance, responsibility and value for all stakeholders. In the following paragraphs, we present the main initiatives undertaken to strengthen the relationship with our business partners and end-users, illustrating how we have addressed the challenges posed by the market context. We also outline our future commitments, geared towards continuous improvement and sustainable value creation..

We bring our solutions to users in over 55 countries

ESG REPORT 2024 ^{92 93 5 2} CUSTO MER & END-USERS

Customer & End-Users

2.1

What we have done: our impact stories

Service and constant trade support

The current competitive context has pushed our retail partners to structurally rethink the customer experience in stores, with an increasing focus on products and brands that demonstrate a concrete commitment to environmental and social sustainability. In order to respond effectively to this evolution and intercept new market expectations, we have strengthened our strategic collaboration with our partners, confirming an approach increasingly based on analysis and research applied to sales channels. This allows us to offer customized solutions with high added value in terms of assortment, display materials and quality of the shopping experience.

At the same time, we have strengthened the training and refresher activities of our sales force, located throughout the territory, which also plays an active role in training the store staff.

To this end, a structured training plan was implemented, aimed at developing:

We believe that the ability to meet end-user expectations requires a mix of expertise, agility and flexibility, which we constantly cultivate by monitoring market trends and analysing emerging consumer needs through market research.

technical skills on products and technologies

sales skills, to translate technical features into effective sales arguments

interpersonal and communication skills, to improve the ability to interact and propose

Our contact channels

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Omnichannel strategy

Considering the current phenomenon of increasing digitisation of purchasing behaviour, the adoption of an omnichannel strategy is a prerequisite to ensure a consistent, smooth and personalised experience for our customers. In a market where consumers can access products through multiple touchpoints, it is essential to monitor all contact and sales channels in an integrated manner.

With this in mind, the Group has continued to enhance and strengthen strategic partnerships with retailers, intensifying sales-oriented collaborations on our partners' e-commerce channels in 2024. Such synergies are a key element in effectively entering the omnichannel customer journey, generating shared value and improving the quality of the shopping experience.

To support this vision, we have continued to invest in the digital evolution and e-commerce development project, adopting an integrated operating model that simultaneously exploits different tools and platforms, with the aim of optimizing the management of hybrid purchasing paths.

The initiatives undertaken are part of a broader strategy of enhancing the product portfolio and seeking new growth opportunities, through continuous improvement of communication, training and end-user satisfaction.

New B2C Consumer Care process

The process of managing pre- and post-sales assistance requests addressed to end consumers (B2C) has been further optimized, following a path of continuous improvement already started in previous years. The goal is to ensure an increasingly efficient, responsive and customer satisfaction-oriented service, through the adoption of advanced tools for the analysis and management of interactions.

In 2024, the focus was on streamlining the management software, with interventions aimed at cleaning and structuring data, differentiating activities by brand and product department, and improving operational traceability. This increased the speed of ticket handling and, in parallel, enhanced the channel as a strategic source of qualitative and quantitative insights.

The introduction of a structured and continuous reporting system was a further step forward. The quality of the data managed allowed the development of always accessible quantitative dashboards, useful for constantly monitoring service performance. Furthermore, an internal process for sharing the results has been established:

• Quarterly operational reports shared with the Marketing team;
• Strategic half-yearly reports (H1 and FY) presented at executive meetings, with the aim of integrating customer care data into corporate decision-making processes.

The communication system with end customers was enhanced through the adoption of a dedicated Web Form, a system for channelling requests and the integration of mailing lists, with the aim of centralizing interactions towards a Single Point of Contact (SPOC).

To support user autonomy, the contents of the FAQ section were updated and the features of the Chatbot, based on advanced generative artificial intelligence models, were enhanced.

The development of a tag dedicated to the qualitative assessment of customer satisfaction is planned for 2025, which will serve as a baseline for the implementation of a structured feedback monitoring system to support an increasingly data-driven and continuous improvement-oriented management.

Technological innovation and growing sensitivity towards environmental and social issues represent the main strategic drivers guiding Cellularline's corporate decisions in recent years. In an ever-changing competitive context, the role of the consumer has transformed: from a simple user to a conscious subject, actively involved in purchasing decision-making processes. To respond to this transformation, the Group has adopted a dynamic and listening-oriented approach, based on a continuous updating of the offer and a solid consumer research framework.

In 2024, a comprehensive market research program was carried out, with a focus on the case category, in order to identify areas of improvement, opportunities for innovation and new directions of development. The activity included qualitative methodologies such as focus groups and in-store interviews, with the aim of analysing in depth the purchasing behaviours and decision-making dynamics of shoppers. The insights that emerged guided the development of new packaging and display solutions, in line with emerging market needs and with the aim of strengthening the brand's competitive positioning.

To complement these activities, Cellularline promoted the direct involvement of customers and partners through the organization of meetings at industry events. These moments of discussion represented an opportunity to share the company's ESG strategy and to develop common projects, strengthening the dialogue with stakeholders and promoting a shared culture of sustainability.

Integrated process to maximize the customer experience

Management of the absorption process based on sell-out data

Management of the exhibition space (for the physical channel) and identification / visibility (for the online channel)

Development of exhibition materials / communication tools (for the physical channel) and digital contents (for the online channel)

Strategy for sales channel

"Our strategy is based on an integrated management model aiming to maximize our customer shopping experience"

ESG REPORT

In 2024, we again promoted the institutional event "Live the Excellence", an important platform for strategic discussions with our key partners.

The initiative represented a privileged opportunity to illustrate the evolutionary guidelines and development prospects of the main product categories - accessories for smartphones, tablets, audio devices - through a structured display of our product ranges and the use of POP materials aimed at supporting sell-out.

"Live the Excellence" is a crucial moment for sharing market trends and opportunities with our partners, intercepting new needs of distribution channels, enhancing commercial synergies and strengthening established relationships with stakeholders.

LTE also represents a crucial moment in which to share, through workshops, the company's point of view on issues of high strategic value for business development, such as, for example, product, service and commercial policies relating to the attachment (sale of the accessory at the same time as the sale of the device).

The event is part of our ongoing positioning as an innovative player, oriented towards leadership in go-to-market strategies and the development of solutions with high added value.

Geographical presence

Our brand is one of the main operators in the smartphone and tablet accessories sector in the EMEA area, as well as a market leader in Italy; moreo ver, we rank, in terms of volu me, among the top operators in Spain, Switzerland, Belgium, the Netherlands and Austria and we boast a strong compe titive position in the other Euro pean Countries.

Our brands

"Being a market leader is not li mited to excellence in terms of construction quality and design, but also implies the ability to put the heterogeneous needs of end users at the centre of the com pany's strategy.

Through a structured mul ti-brand portfolio, we are able to cover different market segments to meet all consumer needs."

Cellularline

It is the European reference brand in the accessories market for smartphones and tablets. Thanks to a careful product strategy based on excellent quality, design and innovation, we guarantee solutions in line with technological trends, constantly striving to combine excellent performance with ease of use.

Ploos

Launched in 2020, Ploos stands out for its essential designs and functionalities and is characterized by excellent value for money, allowing Cellularline Group to bolster its coverage of some EMEA markets and channels in which its positioning offers ample growth margins.

Music Sound

Newrban

Launched by Cellularline in 2023, Newrban marks our debut in the world of sustainable mobility. The product range is designed to improve the safety and efficiency of urban mobility with innovative and sustainable products, including visibility and transport solutions, reflecting our commitment to safer mobility with a low impact on the urban environment

Cosmo Nova

These are the brands that the group has created exclusively for the Specialist Telecom channel

at European level.

The wide range of products offered is able to meet all the needs of a Telco store and maximize loyalty. The brands are known in the market both for their excellent value for money and for the sustainability of the supply chain.

Interphone

Brand that identifies an accessory line of innovative solutions dedicated to communication in motion between motorcyclists. Thanks to the extreme functionality and reliability of its devices, Interphone products have become the ideal companion on the road or in the city.

Skross

Leading brand in the premium travel adapter segment. Its country-specific peripheral power adapters and devices can be found in more than 600 stores in the Travel Retail channel.

Q2 power

Brand for travel adapters and other charging solutions which is complementary and has a different market position compared to the Skross brand, offering good value for money.

Coverlab

A benchmark brand in Italy and abroad for the online sale of customized smartphone cases and accessories that aims to meet the sophisticated and growing needs of fashion and those who love a customized look.

Allogio

Acquired in November 2022, Subliros SL. is a Spanish social-commerce company that owns the Allogio brand, a reference brand in the custom segment of smartphone accessories.

Sales network

Multichannel and customer proximity are our strengths for strengthening the relationship with users.

Our products are marketed mainly through the following sales channels:

• • consumer electronics;
• • large-scale retail food distribution;
• • travel retail;
• • telco;
• • e-commerce;
• • other off-line channels.

*

Our brands

Red product line

It comprises accessories for multimedia devices (such as cases, covers, car supports, protective glasses, power supply units, portable chargers, data and charging cables, headphones, earphones, speakers and wearable technology products);

• Cellularline
• Ploos
• Newrban
• Music Sound

Black product line

It includes all products and accessories related to the world of motorcycles and bicycles (such as, for example, intercoms and supports for smartphones).

• Interphone
• Newrban

Blue product line

It groups together products marketed in Italy that are not Cellularline branded (e.g. distribution of Samsung original products).

Our product lines

Customer & End-Users

2.1

CUSTO MER & END-USERS

Future commitments

We want to continue to raise awareness and engage our stakeholders on ESG strategies, projects and activities by conveying this content in our specially created event. An event focused on Cellularline's excellence, which always includes ample space for ESG storytelling and raising awareness of sustainability issues.

Further research studies are also planned for 2025 to better understand the needs of owners of digital devices and accessories. These analyses allow us to stay at the forefront and respond effectively to market developments.

2025 will represent the reference baseline for the evaluation and monitoring of end-consumer reviews, foreseeing the implementation of new activities to measure customer satisfaction; in particular, we will conduct a subjective analysis based on customer interaction and request an evaluation from the end-consumer via email on a voluntary basis.

We will continue with our journey of enhancing what we do. We started with the definition of our purpose and we want to continue with the development and internal dissemination of a culture linked to shared values and sustainability.

Live the Excellence

Market research

Customer satisfaction monitoring

Materiality assessment

Future commitments

People&Community

2.1

PEOPLE & COM MUNI TY

Employers area score

The Cellularline Group adopts a human-centric approach as a pillar of its business strategy.

Over the past few years, even in conjunction with significant organizational transformation processes, we have maintained a constant focus on human capital, promoting initiatives aimed at enhancing and developing both professional and personal skills.

With this in mind, we continue to increase investments in training programs and projects with high social impact, with the aim of generating shared value for the corporate community and the stakeholder ecosystem. 2024 was a strategic year for the Group, characterized by a strong commitment to actively involving people in organizational and cultural evolution processes.

We firmly believe that human capital is the main enabler of corporate competitiveness. For this reason, we are committed to ensuring an inclusive work environment, geared towards professional growth and integral personal development.

In the following paragraphs, we will outline the main initiatives implemented, the People Management & Development processes that guide our daily actions and the commitments made for continuous improvement.

People&Community

2.1

PEOPLE & COM MUNI TY

Diversity, Equity & Inclusion

What we have done: our impact stories

Diversity, Equity & Inclusion: an ongoing commitment

The Cellularline Group recognizes diversity as a strategic asset for innovation, com petitiveness, and sustainable growth of the organization and the socioeconomic context in which it operates.

With this in mind, we actively promote a cultural shift geared towards inclusion, through the creation of a fair, respectful work environment free from discrimination based on gender, age, ability, health conditions, ethnicity, sexual orientation, gen der identity, or personal beliefs.

To support this vision, the Group has implemented structured initiatives aimed at consolidating a corporate culture based on the principles of fairness, respect, and the enhancement of individual potential.

Since 2022, a cross-functional team, composed of company figures from different functions and selected on a voluntary basis, has been leading DE&I-related initia tives with the aim of actively monitoring and promoting issues related to diversity and inclusion.

In 2024, Cellularline Group's cross-functional Diversity, Equity & Inclusion team worked to develop an action plan aimed at promoting an increasingly equitable, inclusive, and people-focused work environment. The basis of this process was the sharing of surveys with the people of Cellularline S.p.A., which allowed us to collect perceptions, needs and insights to define the principles of the project.

As a result of this active listening, four key principles were identified as priority areas for action: gender, generations, work environment, and organizational wellbeing.

Based on these areas, the DE&I team has defined a plan of targeted actions and initiatives that will guide the Group's work in the near future, with the aim of making the commitment to a people-focused organization increasingly concrete and sha red.

Among the commitments made in the plan, the focus continues on gender diver sity, an area in which the Group has been pursuing a structured path toward equal pay for several years. Through a systematic analysis of the gender pay gap, we are able to identify areas for improvement and implement targeted corrective actions.

We actively promote a culture of inclusion, recognizing and valuing the uniqueness of each individual as a strategic lever for organizational growth. This commitment translates into concrete initiatives that take shape within the company and extend to the outside world, generating a positive impact on the entire ecosystem

The Cellularline Group is committed to ensuring fair conditions and equal opportunities in the workplace, promoting professional development regardless of any form of discrimination, including ethnicity, religion, gender, age, disability, nationality, sexual orientation, political opinions, trade union membership, or marital status.

In 2024, to confirm this commitment, a corporate Diversity, Equity and Inclusion (DE&I) policy was formally implemented, with the aim of systemically integrating these principles within organizational processes, HR practices and corporate culture.

This initiative, which applies to all Group companies, represents the formalization of a concrete commitment to help make the workplace more equitable, respectful, and welcoming, where each person feels valued for their uniqueness.

The policy was born as a natural evolution of the ESG path launched by the Group in 2020 and is rooted in the corporate Purpose "Youmanizing the Devices' Experience", which places people and the human experience at the centre of the relationship with technology. In this context, DE&I is recognised not only as a concrete commitment but also as a strategic lever for innovation, sustainable growth and organizational well-being.

For Cellularline, Diversity means valuing everything that makes each person unique. Inclusion is understood as the ability to listen, respect, and embrace differences. Equity, on the other hand, is embodied in the desire to ensure equal opportunities, taking into account individual characteristics and needs.

In 2024, the Cellularline Group renewed its membership in the Libellula Foundation network, an organization committed to promoting cultural change aimed at preventing gender-based violence and combating all forms of discrimination against women. The Foundation operates within its member companies through initiatives aimed at spreading a culture of respect, building inclusive working environments and overcoming gender stereotypes, with a particular focus on female empowerment.

Based on these principles and on the findings of a survey shared with the parent company's staff, four priority areas for intervention were identified: gender, generations, the workplace, and wellbeing. For each of these areas, actions and programs have been identified. The document clearly defines the scope of application of DE&I principles in multiple business processes: personnel selection, compensation policies, welfare, work-life balance, performance, training and development.

The Policy is part of a solid and transparent governance system, approved by the DE&I Committee and the HR Function. The document provides for and makes available confidential reporting procedures for any violations of the principles, managed in compliance with current legislation and corporate codes.

The policy is made available on the group's institutional website and in the corporate repository, and shared with people through a training session.

Areas of intervention

Preventing and combating violence against women and gender discrimination

Next generation: actions for sons and daughters of employees

Organizational empowerment and development of inclusive cultures

Advisory actions

Team members:

Franco Capetta Enterprise Application Manager

Cecilia Facini Sales & Operations Planning Manager

Claudia Di Modica HR Business Partner & Employer Branding Manager

Luisa Cataldo Group HR Manager Lara Zaccarelli International Customer care Manager

Marco Barbiero R&D Manager

Eleonora Pinca Executive Assitant & Product scouting Coordinator

People&Community

2.1

PEOPLE & COM MUNI TY

People development and enhancement

We believe in an organization that evolves through people.

That is why we cultivate an environment where learning, growth and talent development are an integral part of our culture. We invest strongly in training, not only as a tool for professional development, but as a strategic lever for strengthening skills and generating shared value. Each training initiative is designed to fuel curiosity, stimulate critical thinking, and contribute to an inclusive, dynamic, and forward-looking environment.

What we have done: our impact stories

Performance management

For the Group, skill development –both managerial and technical-specialist– represents a strategic lever for continuously improving operational effectiveness, evolving processes, and empowering people. Starting in 2020, we have transformed our approach to performance management, integrating business objectives with targets related to the growth of soft skills and leadership, to support solid and informed growth.

To foster high and sustained performance, we have promoted a culture of cross-functional collaboration, encouraging the definition of shared and interdependent goals capable of generating cross-functional value and systemic impact.

In line with our path towards integrated sustainability, we have strengthened the alignment between economic-financial and ESG (Environmental, Social & Governance) objectives, extending this vision to all organizational levels.

of the Group's employees are engaged in formalised performance assessment and professional development processes

of the Cellularline Group's people is already part of the short-term performance incentive programme

People deve- lopment and enhancement

This integrated model allows us to combine business growth with a culture of responsibility, strengthening the link between corporate strategy and environmental and social impact.

Also for 2024, the Cellularline Group has confirmed its commitment to managing the strategic training programme called "People Care & Development (Skill & Will)", aimed at strengthening leadership skills and disseminating a managerial culture oriented towards people empowerment. The initiative aims to structure a systemic approach to people management, promoting greater integration between function managers and the Human Resources area, with the aim of consolidating effective and sustainable people management practices.

The program is based on three methodological pillars: delegation, coaching, and motivation, and aims to create spaces for structured discussion, encouraging the shared definition of management strategies and the development of professional and motivational growth paths within teams. Continued in 2024, in this first phase, the project involved approximately 25 collaborators from the Marketing, Digital & e-Commerce, and Research & Development (R&D) functions.

A central element of the process is the adoption of the "Skill/Will" analytical model, which allows managers to periodically map and segment their employees based on their level of competence and motivation. This analysis allows us to identify so-called "priority work areas," i.e. specific areas in which to implement targeted interventions to improve individual performance and strengthen engagement.

The program also includes moments of vertical discussion, during which managers receive horizontal feedback and share best practices and operational strategies to apply to the identified construction sites. The medium-term goal is to extend the project to all company functions, in order to consolidate a common language and an organizational culture geared towards advanced and informed people management.

People and Culture Program

Training ESG

Internal training and awareness on ESG issues

Job Posting

In 2024, the Cellularline Group resolutely pursued its path of integrating sustainabi lity into its corporate culture by enhancing its internal training and communication activities on ESG issues.

During the company's Town Halls, the staff was given continuous updates on the ESG strategy and the evolution of the 2023- 2025 Master Plan, built according to the BIA (Benefit Impact Assessment) metho dology, with a focus on the main areas of intervention and objectives to improve the company's impact.

Over the course of the year, all Group em ployees were involved in training sessions dedicated to three key areas: ESG Project, Diversity, Equity and Inclusion (DE&I) and Code of Ethics. The training sessions, re corded and made available on the com pany platform, have been integrated into the new onboarding process and now con stitute a stable reference for the training of new hires.

At the same time, the ESG onboarding pro gram for new hires was confirmed, with the aim of immediately conveying the com pany's sustainable vision and future com -

mitments in the environmental, social, and governance fields.

To complete this journey, the sustainable welcome kit was confirmed, a tangible symbol of the Group's commitment to re sponsible and inclusive practices.

During 2024, we continued to use the in ternal job posting system, a strategic tool to foster internal mobility and professional growth. This initiative allows each employee to apply for new opportunities within the or ganization, promoting a development mo del based on self-empowerment and the enhancement of individual potential.

At the same time, the Performance Mana gement process has been consolidated, supported by the JOIN UP digital platform, which facilitates ongoing dialogue between managers and employees.

The process consists of three main steps:

Goal Setting:

joint definition of individual goals, core com petencies and performance KPIs.

Mid-Year Review:

an intermediate moment for comparison and feedback on the progress of objectives and skills.

Final Evaluation & Feedback Meeting:

final evaluation and structured sharing of achievements and areas for improvement.

At the end of the process, an Individual Development Plan (IDP) is drawn up, which defines customized development actions for each employee.

In 2024, the company's training plan focused on strengthening three ma cro-areas of expertise:

Cross-functional skills

courses on IT, compliance and Model 231, IT security, remote working policy.

Personal development skills

training in foreign languages, horizontal in tegration, leadership, emotional intelligen ce and performance management.

Technical-professional skills

specialized training courses for the conti nuous updating of functional skills, in line with the specific needs of different com pany areas

Soft skills by way of example, we have organised courses in IT, compliance and model 231, information security, remote working policy.

Personal development skills

i.e. languages, communication, leadership, emotional intelligence, performance management.

Technical and professional skills

We focused on developing the following skills... 125PEOPLE&COMMUNITY | 6.3 PEOPLE DEVELOPMENT AND ENHANCEMENT

all the specific courses related to the function to which it belongs in order to continuously update the know-how of the various business functions.

People&Community

2.1

PEOPLE & COM MUNI TY

People Care

The well-being of our people is a strategic priority for the Group. We are actively engaged in listening to and understanding individual needs, promoting initiatives aimed at improving the overall well-being – economic, social and psychophysical – of our employees. This approach translates into an integrated corporate welfare system, aimed at supporting the quality of work and personal life, while strengthening the sense of belonging and organizational engagement.

Listening to our people

As part of our active listening and orga nizational engagement policies, we have established a structured channel of inter nal dialogue aimed at systematically col lecting the opinions, needs and sugge stions of our people.

Role of the HR Business Partner

In 2024, the Group further evolved the role of the HR Business Partner, with the aim of strengthening the alignment between pe ople management strategies and the ope rational needs of business lines.

This figure plays a key function in suppor ting line managers in the day-to-day ma nagement of teams, facilitating the practi cal application of the skills acquired in specially designed management training courses. The HR Business Partner is now responsible for strategic processes such as recruiting, skills development, and or ganizational design, working closely with company functions to ensure effective ma nagement of HR dynamics. Its intervention is increasingly integrated into business projects, with the aim of providing con textualized support aimed at enhancing human capital, according to the principles of care, growth, and inclusion. In this con text, the HR Business Partner acts as a facilitator of the dialogue between organi zational needs and individual well-being, promoting a work environment based on psychological safety, active listening, and authentic engagement.

Appical, the onboarding app

Throughout 2024, we continued the op timization process of our digital onbo arding platform, Appical, with the aim of improving the onboarding experience for new employees and ensuring effective integration consistent with the Group's corporate culture. The application has been continuously updated, both in ter ms of content and functionality, based on feedback collected and needs that have emerged. Appical provides a structured overview of the organization, facilitating access to key information, operational to ols and useful references for orientation in the early days. A distinctive element of the project was the strengthening of Line Ma nagers' involvement in the various phases of the onboarding process, from content design to implementation. This approach has ensured a personalized welcome and concrete support from day one, helping to strengthen the sense of belonging and engagement of new hires.

In the context of increasing digitization, the Cellu larline Group considers personal data protection and cybersecurity as key strategic elements to build and maintain a relationship of trust with all stakeholders. This commitment translates into constant monitoring of privacy compliance, par ticularly the General Data Protection Regulation (GDPR), and the promotion of a corporate culture geared towards digital responsibility. The perso nal data processed includes information relating to legal entities, such as business partners and di stributors, personal data of consumers collected through e-commerce and social media channels, as well as data of employees, collaborators, and consultants, managed in the context of employ ment and professional relationships.

To ensure effective oversight, a Privacy Office has been established, consisting of the Group Legal Director and supported, as far as they are concer ned, by the IT function and external consultants for specialised needs. Since 2023, the Office has been strengthened with the appointment of an ex ternal Data Protection Officer and the introduction of Privacy Owners for each company function in volved in data processing. These figures actively collaborate through structured communication flows and periodic meetings, with the aim of mo nitoring compliance levels and ensuring ongoing compliance with current regulations. An Organi zational Model for Data Management has also been defined, kept updated through the Register of Processing Activities, and a dedicated channel has been activated for managing requests and re ports from interested parties.

In 2024, the Privacy Office extended compliance monitoring to subsidiaries, such as Systema Srl and Coverlab, and managed security issues with Subliros. At the corporate level, work has been done to adopt IT policies and a data breach mana -

In 2024, the Cellularline Group continued to promote remote working as an organi zational model capable of combining flexi bility, efficiency, and individual well-being. The internal remote working policy is ba sed on principles of trust, accountability, and cross-functional collaboration, with the aim of improving productivity, increa sing the agility of organizational proces ses, and helping reduce environmental impact.

Among established practices, the use of remote working during company closures – such as the Christmas period – ensures service continuity, keeps business opera tions running, and reduces energy consu mption by closing the office.

The model provides employees with the possibility of accessing flexible working arrangements, in compliance with current legislation, by signing an individual agre ement. This approach enhances opera tional autonomy and promotes a balance between business and personal needs.

The Cellularline Group recognizes its peo ple as the driving force of the organization and places their well-being, motivation, and development at the heart of its stra tegies. With this in mind, a broad and de tailed engagement plan was developed in 2024, based on an employee-centric approach and aimed at strengthening a sense of belonging, active participation, and involvement throughout the entire professional career.

Remote working Policy

People engagement and enhancement

The plan is based on five key pillars:

Parenting: concrete measures to support parents, including extending part-time work for mothers, paid sick leave for children, additional leave for fathers, and measures to support adop tion.

Work-life balance: flexible hours, adju stable lunch breaks, remote working during company closures, and free ac cess to physical and mental well-being services (Buddyfit).

Social-relational: corporate events, periodic town halls, and days dedicated to the environment or volunteering to strengthen the community dimension.

Training: soft skills and leadership courses, internal academy, continuous learning platforms, and training pro grams for parents and caregivers.

Economic-financial: corporate wel fare, subsidized tax assistance, public transport discounts and carpooling in centives.

The project also promotes ongoing dialogue with people through periodic surveys, active listening initiatives, and direct engagement, including through internal ambassadors. The goal is to create a stimulating, inclusive, and con tinuously improving work environment, where every employee feels an active part of a strong, forward-looking com munity.

Safeguarding of privacy and cybersecurity

Excluded are professionals who have direct relationships with customers and the sales force, professionals who, for organizational, technical and site management reasons, cannot work remotely, and holders of a curricu lar internship or post-curricular internship relationship.

gement procedure, with the aim of stren gthening the accountability of each Group company. Cybersecurity has been structu rally integrated into the company's strate gic agenda, with a risk-based approach aimed at preventing and mitigating cyber threats. The IT infrastructure is constant ly monitored and protected by advanced technical and organizational measures, in cluding physical and logical infrastructure protection, the adoption of policies for the safe use of digital tools, and the definition of profiled and controlled access.

During 2024, a Vulnerability Assessment and Penetration Testing was conducted with the support of specialised external consultants, which detected two vulne rabilities that were promptly addressed. Furthermore, an analysis of cybersecurity risks was initiated, both internally, such as employee misconduct, and external ly, such as critical IT vendors. With this in mind, key company documents and pro cedures are being drawn up, including an Incident Response Plan, an Internal Secu rity Manual, and a Bring Your Own Device (BYOD) Policy. A URL filtering technique was also implemented to limit access to potentially harmful websites.

Cybersecurity is now considered a pillar of corporate social responsibility. Cellular line promotes a culture of security throu gh training programs for all staff, with par ticular attention to human-related risks, such as phishing and social engineering techniques. The Group has taken out an insurance policy to cover cyber risk and has ruled out the applicability of the NIS 2 Directive, following an analysis of the services performed. From the earliest sta ges of organising the data management system, the company, by setting up a pri vacy organization chart and actively in -

volving the Privacy Owners, identified the corporate functions to oversee strategic processes, also with a view to ensuring staff awareness.

Finally, a Data Protection Impact Asses sment (DPIA) was conducted during the year on the Cellularline ION smartwatch product line and their associated appli cation. Attention to data protection and confidentiality is regularly managed and strengthened, including through the focus on cybersecurity issues, which saw fur ther consolidation in 2024.

- plaints received con

The Cellularline Group recognizes the strategic importance of a work-life balance as a lever for organizational well-being and sustainable perfor mance. With this in mind, we promote an integra ted corporate welfare system aimed at supporting the overall well-being of our employees through concrete services and tools. The welfare plan in cludes initiatives aimed at improving the quality of working life and facilitating the reconciliation between professional and personal needs. At the Reggio Emilia headquarters, employees can access the Edenred Welfare platform, while the Corporate Benefit platform is active in all Italian 1 , allowing the use of agreements, discount vouchers and other value-added services.

offices measures.

Furthermore, the option of taking advantage of one or two days of remote working per week has been introduced, in line with our organizational flexibility policy. Confirming the effectiveness of our work-life balance policies, 85% of employees returning from parental leave are still employed after 12 months, a significant indicator of the posi tive impact of our parenting and retention support

As part of its cyber risk prevention and mitigation strategy, the Cellularline Group has implemented the "Cyber Security Culture" training program, ai med at strengthening organizational awareness of safe digital behaviours. The initiative is aimed at both new hires, through dedicated onboarding programs, and the entire company population through targeted communication campaigns, acti vated when specific cyber threats emerge.

At the same time, an integrated sy stem of cyber defence measures has been consolidated, which includes:

• the protection of systems and applications exposed on the Internet;
• the strengthening of technology and se curity governance mechanisms;
• the implementation of specific controls to manage cyber risk from third parties;
• interventions to ensure the business con tinuity of corporate IT services;
• the strengthening of monitoring and ma nagement activities of central systems.

With a view to continuous improvement, the set of countermeasures is constantly upda ted to ensure an adequate level of resilien ce against evolving cyber threats.

This proactive and dynamic approach al lows for effective digital security mana gement, contributing to the protection of information assets and the organization's business continuity.

People&Community

2.1

PEOPLE & COM MUNI TY

Health and safety in the workplace

Health and safety in the workplace

The Cellularline Group resolutely pursues the goal of ensuring the highest standards of health and safety in the workplace, considering them essential elements for protecting the well-being of its people. Creating a safe, secure, and welcoming work environment is a strategic priority and a fundamental prerequisite for promoting a positive and sustainable organizational climate

Occupational medicine

The Cellularline Group adopts a proactive approach to workplace health and safety, going beyond mere regulatory compliance to promote a process of continuous improvement of working conditions.

In this context, we have entered into a strategic partnership with Check-Up Service, a company specializing in occupational medicine based in Reggio Emilia. This collaboration gives us access to a multidisciplinary team of competent doctors and technical specialists, who support the organization in planning, managing and monitoring health surveillance, in accordance with the specific tasks and health conditions of the workers. The goal is to ensure constant and qualified supervision, capable of protecting the physical well-being of employees and contributing to the creation of a safe, sustainable work environment that complies with the highest prevention standards.

In compliance with Legislative Decree 81/08, the Cellularline Group has adopted a structured and proactive approach to managing health and safety at work, aimed not only at complying with regulatory obligations but also at continuously improving working conditions. The Risk Assessment Document (hereinafter also referred to as the "DVR"), including specific risk asses sments, has been drawn up. This document allows for a systematic analysis of potential threats to workers' health and safety, taking into account the activities performed, the equipment used, and the operating contexts.

A functional safety organization chart has been established, which includes: • the appointment of a Prevention and Protection Service Manager, entrusted to an external

• professional;
• the appointment of the Competent Doctor, in compliance with current legislation;
• the identification of Supervisors, Emergency Officers and Workers' Safety Representatives.

What we have done: our impact stories

2This information applies to Cellularline S.p.A.; the other subsidiaries operate in full compliance with the regulations in force in their own countries

In 2023, the Cellularline Group launched the "Pathways to Wellness" programme, an initiative, confirmed for 2024, to raise awareness and promote psychological and physical well-being, aimed at en couraging the adoption of healthy and sustainable lifestyles by employees. The programme is based on a holistic appro ach to well-being, divided into five key di mensions: Physical, Occupational, Emo tional, Spiritual and Intellectual.

Pathways to Wellness

The Prevention and Protection Service (he reinafter also referred to as "SPP"), in colla boration with external consultants, regularly conducts internal audits and compliance analyses, developing short- and long-term improvement plans shared with the Em ployer.

Health surveillance is managed in collabora tion with Check-Up Service, an occupational medicine company based in Reggio Emilia. The Competent Doctor, in synergy with the SPP, carries out periodic assessments of workstations, with particular attention to er gonomic risks and the prolonged use of vi deo terminals.

During the periodic meeting pursuant to art. 35 of Legislative Decree. 81/08, the tasks that require the use of Personal Protective Equipment (hereinafter also referred to as "PPE"), regularly provided to workers, are also analysed.

The SPP constantly monitors risk conditions through periodic meetings with safety repre sentatives, analysing accidents, near misses, and reports from Workers' Safety Represen tatives (hereinafter also referred to as "RLS"), workers, or management. A structured pro cedure for handling reports of hazardous situations is in place, supported by specific training activities aimed at promoting a cultu re of prevention. Active worker participation is ensured through training and direct con sultation channels with RLSs and HSE con tact persons.

With a view to the integrated protection of psychological and physical well-being, wor k-related stress monitoring activities are car ried out regularly. The results, together with those of health surveillance, have not reve aled any significant critical issues. These re sults confirm the effectiveness of the measu res adopted and the appropriateness of the working environment.

Partnership with Buddyfit

An agreement was signed with Buddyfit, a digital platform dedicated to fitness and mental wellbeing, which gave all Group employees free access to three weekly sessions led by certified trainers.

People&Community

2.1

PEOPLE & COM MUNI TY

The Cellularline Group is committed to having a positive impact on the local community, with particular attention to the Reggio Emilia area, home to our headquarters. We support social, cultural, and educational initiatives, aiming to promote inclusion, cohesion, and empowerment of new generations, in line with the principles of corporate citizenship.

Community support

What we have done: our impact stories

UNORA programme

In 2024, Cellularline has renewed its commitment to corporate social responsibility by firmly adhering to the Foundation's programme Unora ETS - Donate an hour of your work, a payroll giving initiative that allows employees to donate a small part of their salary to charitable projects with a high social impact.

Thanks to the active participation of 29 employees, the company raised a total of €3,920, ranking third among the most generous companies participating in the program this year. This result was made possible by the generosity of employees, who donated an average of €130 each, contributing to a monthly collection of around €320. The funds were evenly distributed among several projects promoted by nonprofit organizations, each of which generated a concrete and measurable impact on the lives of people and communities in need. Among the supported projects, "Mobilità solidale AIL" stands out, which allowed two haemato-oncology patients and their caregivers to undertake ten trips to specialized treatment centres, overcoming economic and geographical barriers. Helpcode Italia's "Il piatto che conta" project provided a year of canteen meals to a child in Maputo, improving his nutrition and school attendance. Thanks to the contribution to the Soleterre Foundation, 20 psychological support sessions were funded for paediatric patients in the haemato-oncology departments of the hospitals in Pavia and Taranto.

In 2024, Cellularline renewed its partnership with NOISIAMOFUTURO®, an organization committed to promoting initiatives dedicated to young people, with the aim of encouraging interaction, orientation, and active participation of the new generations. This partnership is part of the Group's broader commitment to social responsibility, with a particular focus on supporting young people's educational and training programs. By supporting projects

The programme also supported the Umberto Veronesi Foundation, providing 20 patients with access to genetic testing for early breast cancer diagnosis. With the ABIO Foundation, 2 new volunteers have been trained to improve children's hospital experience. ENPA's "Ho cura di te" project provided six months of care and food for puppies at a shelter, while the contribution to AISLA covered one month of running the ALS patient listening centre. Finally, support for the La Tenda Centre in Naples allowed 10 children to receive daily academic support for the entire year, and Mission Bambini's Scintilla project distributed 450 snacks to children staying at the "Stella" educational facilities. For Cellularline, the Unora programme represents not just a solidarity initiative, but a true tool for collective participation, in which individual commitment translates into a shared social impact. Every hour donated helped build a more equitable, inclusive, and sustainable future, strengthening the connection between the company, its employees, and the community.

and activities promoted by NOISIAMO-FUTURO®, Cellularline has contributed to the creation of spaces for discussion and growth, where students, teachers, and professionals can discuss topics related to innovation, sustainability, and the future of work. The goal is to foster in young people a greater awareness of their role in society and to encourage them to become active agents of change.

In 2024, Cellularline chose to strongly support the GAST Summer Camp, a project promoted by G.A.S.T. Onlus that aims to make physical and recreational activities accessible to children and teenagers with intellectual and/or physical disabilities. The camp takes place in the summer months of June, July and early August, offering an ongoing experience in natural environments, with the aim of improving the quality of life for participants and their families. The program runs five days a week, for a total of 40 days and 308 hours of activities spread over eight weeks. Activities take place in the pool, in the hills, in the mountains, at the seaside, and in the city, with a rich calendar that includes excursions, sports, hands-on and educational workshops, sensory experiences, and moments of socialization. Special initiatives include days on the Riviera with SUP (Stand Up Paddle) practice, trekking in the Apennines with the aid of Joelette for assisted mobility, activities with animals, cooking workshops and cultural visits to museums and libraries. The project is based on values of welcome, accompaniment, interaction and support,

Youth Festival - Noisiamofuturo

2024 GAST Summer Camp

⁵⁽Fondazione Soleterre, Fondazione Umberto Veronesi ETS, Associazione Italiana Sclerosi Laterale Amiotrofica ONLUS, ENPA ODV, Fondazione Mission Bambini ETS, Fondazione ABIO Italia ONLUS per il Bambino in Ospedale, Help Code Italia ETS, Smile House Fondazione ETS, Associazione Centro La Tenda ONLUS)

ensuring a customized educational ratio ranging from 1:1 to 1:3, depending on the specific needs of the participants. The educational approach aims to foster auto nomy, self-confidence and social inclusion through gradual adaptation to the natural environment and group dynamics. Throu gh a donation, Cellularline has made a concrete contribution to the project's im plementation and expansion, with finan cial support in 2024 and a commitment already planned for each of 2025 and 2026. This contribution made it possible to extend the duration of the camp and to offer an even more structured and conti nuous service, representing an important point of reference for families during the summer period. The GAST Summer Camp fully embodies the values of inclusion, well-being, and social responsibility that guide Cellularline's actions, confirming the company's commitment to promoting initiatives that generate a positive and lasting impact on the local area and the most vulnerable communities.

Also in 2024, Cellularline has proudly con firmed its support for TEDxReggioEmilia, an independent event affiliated with the global TED (Technology, Entertainment, Design) network, now in its thirteenth edi tion. The initiative stands out for its ability to generate inspiration, stimulate critical thinking, and foster discussion of innova tive experiences and visions, fully aligned with the values of openness, inclusive ness, and innovation that characterize the Group's identity. This year's edition, ho sted at the Teatro Ariosto, represented a true inspirational journey, centred on the theme of courage: the courage to face

TEDxReggio Emilia

"Facciamo battere il #cuore verde" initiative promoted by the Reggio Emilia Croce Verde

GRADE Onlus Foundation

challenges, share personal visions, and transform opportunities into change. Cel lularline is proud to have taken part in this extraordinary event, which promotes pro gress and fuels the culture of innovation. A special thanks also goes to our team members who participated in the event, embodying the company values and acti vely contributing to a shared experience of growth and transformation. For Cellu larline, supporting TEDxReggioEmilia re presents an investment in spreading ide as that inspire the future and strengthen the connection between business, cultu re, and community.

Over the course of the year, the Group renewed its commitment to the Croce Verde of Reggio Emilia, supporting the Charity Temporary Shop aimed at raising funds for the purchase of goods for public assistance. In particular, Cellularline con tributed a donation to purchase a new van equipped to transport people with disabi lities, an essential tool for ensuring mo bility, inclusion, and access to health and social services. The new vehicle will allow Croce Verde to strengthen its assistance activities, improving the quality of life of many vulnerable citizens.

In 2024, Cellularline renewed its com mitment to the community and public health by supporting the GRADE Onlus Foundation with a donation. This gestu re represents a concrete contribution to the promotion of scientific research and the improvement of the quality of life of haemato-oncology patients. For over 35 years, the GRADE Foundation has been actively involved in supporting the AUSL IRCCS of Reggio Emilia, promoting resear ch projects, expanding treatment options, and contributing to the development of cutting-edge healthcare facilities. Cellu larline has chosen to support the Founda tion at a particularly significant moment: the early conclusion of the "Ricerca o non ricerca?" project, which reached the am bitious goal of raising €1.2 million in less than three years. Cellularline's donation will contribute to the new project promo ted by GRADE, aimed at expanding the Haematology department at CORE, inau gurated in March 2024. The goal is to rai se €1.3 million to finance structural work, the activation of six new beds, the purcha se of advanced technologies, and support for eleven new professionals already wor king in the department. The project, laun ched with the slogan "Facciamo crescere la nostra squadra del CORE" (Let's grow our CORE team), celebrates 25 years of Haematology at Santa Maria Nuova Ho spital and looks to the future with the in troduction of innovative therapies for pa tients with non-Hodgkin's lymphoma.

In 2024, Cellularline promoted a major environmental initiative in collaboration with Treedom, organizing a PlasticFree event open to the community and aimed at collecting abandoned plastic and waste. The initiative saw the active involvement of the company's employees, who participated with enthusiasm and a sense of responsibility, directly contributing to the protection of the territory. During the event, 855 kg of waste was collected, a significant result that testifies to the effectiveness of collective action and the positive impact that can result from a shared commitment. The activity took place in an atmosphere of cooperation and awareness, with the aim of promoting more environmentally aware and responsible behaviour. The initiative is part of the broader sustainability path undertaken by Cellularline, which aims to integrate environmental protection into its corporate practices and actively involve its stakeholders in valuable projects. The collaboration with Treedom strengthened the link between local action and global

PlasticFree – event in collaboration with Treedom

We support the Dynamo City Camps

In 2024, Cellularline renewed its support for Dynamo City Camps, recreational therapy programs for children and young people suffering from serious or chronic illnesses. The aim is to offer inclusive and valuable experiences that stimulate the development of individual skills and personal potential. Specifically, the initiative is part of a multi-year program that has already reached over 88,000 beneficiaries, thanks to collaboration with specialized associations and organizations.

vision, combining the fight against plastic pollution with the promotion of a widespread ecological culture.

The growth of our business is not limited to the internal dimension of the organization, but extends to the active consideration of the socioeconomic context in which we operate. We recognise the strategic value of the positive externalities that our activities can generate and we are committed to ensuring that these impacts make a tangible contribution to collective well-being. For the Cellularline Group, being a company means not only efficiently managing business processes but also taking a proactive role in the sustainable development of the territory. Creating skilled jobs, investing in human capital, and supporting social initiatives are key levers through which we contribute to local growth.

With this in mind, we approach our role in the community with a sense of responsibility, aware that shared progress is based on collaborative relationships and a strong sense of belonging to the territory.

The initiatives we promote demonstrate our concrete commitment to a business model focused on social value and cohesion.

People&Community

PEOPLE & COM MUNI TY

Future commitments

Future commitments

In 2025, we are committed to integrating the training on the Diversity, Equity & Inclusion Policy, released and shared in 2024, into the onboarding process for new hires, ensuring that the principles of inclusion are conveyed from the moment they join the Group.

We again confirm our support for the UNORA project in the following years, which allows our employees to donate their time during working hours to projects promoted by the organisations that make up the Unora Onlus Committee.

In 2025, we will continue our commitment to the local community by confirming our three-year support to the GAST Summer Camp, an initiative that promotes social inclusion through educational and sporting experien-

ces.

Furthermore, we will identify and select a new local organization to support, expanding the path already undertaken. This action is also included in the Impact Report, supporting the Common Benefit goals aimed at the growth and well-being of the community.

The Group's internal Academy will be launched in 2025, one of the actions envisaged in the Impact Report to support the Common Benefit goals. The project was created with the aim of enhancing skills, fostering knowledge sharing and promoting the professional growth of our people. In preparation for the launch in 2024, a Train the Trainer programme was launched to provide colleagues with the necessary tools to design and deliver internal courses in an effective and engaging manner.

In 2025, we will implement customized development plans, one of the actions envisaged in the Impact Report to support the Common Benefit goals. These pathways aim to enhance individual skills, promote professional growth and strengthen engagement, through continuous training initiatives, mentoring and sustainable career development.

A team-building initiative designed to strengthen cohesion among the Group's people and promote an inclusive work environment, where diversity is a shared value and asset, will be launched in 2025. Through engaging and participatory activities, the goal is to foster authentic relationships, encourage mutual listening, and value every contribution, laying the foundation for effective collaboration that respects everyone's uniqueness.

DE&I Policy

Volunteering

Commitment to the local community

Cellularline Group Academy

Talent Management Process

Team building

People&Community

PEOPLE & COM MUNI TY

		2024			2023			2022
	u.m.		Man Woman Total			Man Woman Total			Man Woman Total
Permanent	N°	150	136	286	133	122	255	125	117	242
Temporary		7	4	11	3	8	11	1	8	9
Total employees		157	140	297	136	130	266	126	125	251

		2024			2023			2022
	u.m.		Man Woman Total			Man Woman Total			Man Woman Total
Managers	N°	16	2	18	19	2	21	18	2	20
Junior managers		32	18	50	31	20	51	31	20	51
Employees		87	114	201	85	108	193	76	103	179
Blue collar workers		1	-	1	1	-	1	1	-	1
Total employees		136	134	270	136	130	266	126	125	251

		2024			2023			2022
	u.m.	18-35	36-50	>50	18-35	36-50	>50	18-35	36-50	>50
Managers	N°	-	7	11	2	7	12	-	8	12
Junior managers		5	31	12	4	35	12	3	34	14
Employees		72	88	43	72	83	38	71	80	28
Blue collar workers		-	1	-	-	1	-	-	1	-
Total employees		77	127	66	78	126	62	74	123	54

		2024		2023			2022
	u.m.		Man Woman Total			Man Woman Total			Man Woman Total
Full-time	N°	154	123	277	133	116	249	123	109	232
Part-time		3	17	20	3	14	17	3	16	19
Total employees		157	140	297	136	130	266	126	125	251

GRI Standard 2-7 - Employees by contract type and gender

GRI Standard 405-1 - Employee diversity by job category

GRI Standard 405-1 – Diversity in protected occupational categories

GRI Standard 2-7 - Employees by type of employment and gender

GRI Standard 2-21 - Annual total compensation ratio

GRI Standard 2-8 - Workers who are not employees

In 2024, the number of employees with non-guaranteed hours is 0

In 2023, the information is not available for Cellularline Swiss S.a

In 2023, the information is not available for WorldConnect AG, Cellular Spain S.L.u, Subliros, Coverlab S.r.l and Cellularline Swiss S.a. With regard to the 2024 financial year, as set out in the methodological note, the reporting scope is composed of: Cellularline S.p.A., Peter Jäckel, Coverlab S.r.l., Systema S.r.l., Worldconnect AG, Cellular Spain S.l.u. Therefore, any deviations from previous financial years can be traced back to the aforementioned change. Any scope limitations are appropriately indicated at the bottom of the relevant tables.

In 2022, the information is not available for Cellularline Swiss S.a. In 2024, the information is not available with this detail for Peter Jackel Gmbh.

In 2022, the information is not available for Cellularline Swiss S.a.

In 2024, the information is not available with this detail for Peter Jackel Gmbh.

In 2022, the information is not available for Cellularline Swiss S.a.

In 2024, the information is not available for Peter Jackel Gmbh.

In 2023 and 2024, the number of employees belonging to vulnerable categories is 8, of which 7 are women and 1 is a man.

In 2022, the information is not available for Peter Jackel Gmbh, Cellular Spain S.I.U. and Cellularline Swiss S.a. In 2024 the information is not available for Subliros SL as it is no longer within the reporting scope

Data on workers who are not employees refers to the Italian Group Companies.

	u.m.	2024	2023	2022
Advisers		9	4	3
Temporary workers	N°	4	1	2
Interns		0	-	1
Total Italy		13	5	6

	u.m.	2024	2023	2022
Employees belonging to vulnerable categories	N°	8	8	7

	2024	2023	2022
Worldconnect AG	2,44	2,41	1,86
Systema S.r.l	4,20	3,85	4,00
Cellularline Spain	3,58	2,44	-
Subliros S.L.	-	2,00	-
Cellularline S.p.A.	11,59	11,25	10,89
Coverlab S.r.l	2,65	3,79	2,94
Peter Jackel Gmbh	5,03	4,92	-

GRI Standard 405-1 – Employee diversity by age group

Cellularline S.p.A.

Worldconnect AG

Cellular Spain S.l.u.

GRI Standard 405-2 - Ratio of basic salary (gross annual salary) and total remuneration (including variable remuneration) of women to men, by job category

Basic salary	u.m.	2024	2023	2022
Managers		52%	49%	58%
Junior managers		90%	85%	87%
Employees	%	83%	78%	97%
Blue collar workers		-	-	-
Average total remuneration	u.m.	2024	2023	2022
Managers		49%	46%	57%
Junior managers		82%	79%	79%
Employees	%	80%	75%	95%
Blue collar workers		-	-	-

GRI Standard 401-1 – New employee hires and employee turnover

			2024			2023			2022
Number of hires by gender	u.m.		Man Woman Total			Man Woman Total			Man Woman Total
New hires	N°	21	17	38	19	30	49	16	23	39
			2024			2023			2022
Number of hires by age group	u.m.	18-35	36-50	>50	18-35	36-50	>50	18-35	36-50	>50
New hires	N°	25	6	7	29	16	4	31	7	1
			2024			2023			2022
Number of hires by country	u.m.		Man Woman Total			Man Woman Total			Man Woman Total
Italy		13	14	27	14	26	40	14	21	35
Spain		2	-	2	1	-	1	-	-	-
Switzerland		1	3	4	2	4	6	2	2	4
France		-	-	-	2	-	2	-	-	-
Germany		4	-	4	-	-	-	-	-	-
Other		1	-	1	-	-	-	-	-	-

Germany	ব
Other	1
Total hires	21	17

Nel 2022 l'informazione non è disponibile per Cellularline Swiss S.a.

In 2023, a comparison of data for Subliros s.r.l. and Coverlab s.r.l. is not possible due to the small number of employees. With reference to Coverlab S.r.l., the ratio of basic salary and total remuneration of women to men is not comparable. For 2024, the data is not available for Coverlab S.r.l. and Peter Jackel.

In 2022, the information is not available for Cellularline Swiss S.a.

Basic salary	u.m.	2024	2023	2022
Managers		-	-	-
Junior managers		88%	91%	88%
Employees	%	61%	78%	61%
Blue collar workers		-	-	-
Average total remuneration	u.m.	2024	2023	2022
Managers		-	-	-
Junior managers		86%	85%	92%
Employees	%	58%	74%	58%

Basic salary	u.m.	2024	2023	2022
Managers		66%	67%	58%
Junior managers		89%	90%	101%
Employees	%	87%	95%	96%
Blue collar workers		-	-	-
Average total remuneration	u.m.	2024	2023	2022
Managers		57%	58%	55%
Junior managers		88%	90%	96%
Employees	%	86%	95%	94%
Blue collar workers		-	-	-

Basic salary	u.m.	2024	2023	2022
Managers		-	-	-
Junior managers		69%	70%	67%
Employees	%	-	49%	58%
Blue collar workers		-	-	-
Average total remuneration	u.m.	2024	2023	2022
Managers		-	-	-
Junior managers		75%	72%	67%
Employees	%	-	38%	49%
Blue collar workers		-	-	-

			2024			2023			2022
Number of terminations by age group	u.m.	18-35	36-50	>50	18-35	36-50	>50	18-35	36-50	>50
Terminations	N°	14	10	7	20	11	6	13	16	4

			2024			2023			2022
Number of terminations by gender	u.m.		Man Woman Total			Man Woman Total			Man Woman Total
Terminations	N°	19	12	31	12	25	37	12	21	33

In 2022, the information is not available for Cellularline Swiss S.a.

In 2022, the information is not available for Cellularline Swiss S.a.

		2024				2023		2022
Number of terminations by country	u.m.		Man Woman Total			Man Woman Total			Man Woman Total
Italy		12	10	22	10	21	31	11	19	30
Spain		1	-	1	1	1	2	-	-	-
Switzerland	N°	-	2	2	1	2	3	1	2	3
France		-	-	-	-	1	1	-	-	-
Germany		6	-	6	-	-	-	-	-	-
Total terminations		19	12	31	12	25	37	12	21	33

		2024			2023			2022
Incoming and outgoing turnover	u.m.		Man Woman Total			Man Woman Total			Man Woman Total
Turnover (+)		13,37%	12,14%	12,79%	8,82%	19,23%	13,91%	9,50%	16,80%	13,10%
Turnover (-)	N°	12,10%	8,57%	10,43%	13,97%	23,10%	18,40%	12,70%	18,40%	15,50%

In 2022, the information is not available for Cellularline Swiss S.a.

In 2022, the information is not available for Cellularline Swiss S.a.

The negative turnover rate is calculated as the ratio of the number of terminations to the total gender of employees The positive turnover rate is calculated as the ratio of the number of new hires to the total gender of employees

		2024				2023		2022
	u.m.	Man	Woman	Total	Man	Woman	Total	Man	Woman	Total
Managers		229,5	5,2	234,7	48,0	16,0	64,0	478,0	118,5	596,5
Junior managers		340,0	288,7	628,7	156,3	87,5	243,8	1.061,0	938,0	1.999,0
Employees	h	564,9	929,0	1.493,9	233,3	279,3	512,5	1.621,5		3.302,5 4.924,0
Blue collar workers		-	-	-	-	-	-	9,0	-	9,0
Total		1.134,54		1.222,90 2.357,30	437,6	382,8	820,3		3.169,50 4.359,00 7.528,50

		2024				2023		2022
	u.m.	Man	Woman	Total	Man	Woman	Total	Man	Woman	Total
Managers		14,3	2,6	13,0	4,4	8,0	4,9	26,6	59,3	29,8
Junior managers		10,6	16,0	12,6	7,8	8,8	8,1	34,2	46,9	39,2
Employees	n	6,5	8,5	7,6	6,7	8,0	7,3	21,3	32,1	27,5
Blue collar workers		-	-	-	-	-	-	9,0	-	9,0
Total		8,3	9,5	8,9	6,6	8,1	7,3	22,8	46,1	26,4

GRI Standard 404-1 - Annual training hours by professional category and gender

GRI Standard 404-1 - Average annual training hours

GRI Standard 404-1 - Training hours by training areas

In 2022, the information is not available for Cellular Spain S.l.u., Coverlab S.r.l, WorldConnect AG and Cellularline Swiss S.a. In 2023, the information is not available for Systema S.r.l.

In 2024, the information is not available for Cover Lab S.r.l. and Peter Jackel Gmbh. The training data for 2022 differ significantly from those of subsequent financial years due to a funded training package to which the Group had access (New Skills Fund), which was not provided in subsequent years.

In 2022, the information is not available for Cellular Spain S.l.u., Coverlab S.r.l, WorldConnect AG and Cellularline Swiss S.a.

In 2023, the information is not available for Systema S.r.l.

In 2024 information is not available for Cellularline Spain, Cover Lab S.r.l. and Peter Jackel Gmbh.

For 2023, the breakdown by area refers exclusively to Cellularline S.p.A. In 2024 information is not available for Cellularline Spain, Cover Lab S.r.l. and Peter Jackel Gmbh.

	u.m.	2024	2023	2022
Soft skills (IT, compliance, information security, policy, OMM, etc.)		196	51	1.515
Personal development skills (languages, communication, leadership, emotional intelligence, performance management, etc.)	h	1.326	291	3.086
Technical-professional skills (specific courses related to the department)		688	284	2.927
Total		2.210	626	7.528

		2024				2023		2022
	u.m.	Man	Woman	Total	Man	Woman	Total	Man	Woman	Total
Managers		16	2	18	13	1	14	13	1	14
Junior managers	31		17	48	26	16	42	27	18	45
Employees	n	81	106	187	69	100	169	50	93	143
Blue collar workers		1	-	1	1	-	1	1	-	1
Total		129	125	254	109	117	226	91	112	203

			2024			2023			2022
	u.m.	Man	Woman	Total	Man	Woman	Total	Man	Woman	Total
Managers		100%	100%	100%	68%	50%	67%	72%	50%	70%
Junior managers		97%	94%	96%	84%	80%	82%	87%	90%	88%
Employees	%	93%	97%	95%	81%	93%	88%	66%	90%	80%
Blue collar workers		100%	-	100%	100%	-	100%	100%	-	100%
Total		97%	72%	97%	80%	90%	85%	72%	90%	81%

GRI Standard 404-3 - Percentage of employees receiving regular performance and career development assessments

In 2023, the information is not available for WorldConnect AG, Cellular Spain S.L.u, Subliros, Coverlab S.r.l and Cellularline Swiss S.a. In 2024, the information is not available for Cover Lab S.r.l. and Peter Jackel Gmbh.

In 2023, the information is not available for WorldConnect AG, Cellular Spain S.L.u, Subliros, Coverlab S.r.l and Cellularline Swiss S.a.

		2024			2023			2022
u.m.	Man	Woman	Total	Man	Woman	Total	Man	Woman	Total
h.	224.408	203.917	428.325	228.644	206.847	435.492	149.386	154.183	303.569
n	5	1	6	-	2	2	-	-	-
n	-	-	-	-	-	-	-	-	-
g	161	25	186	-	43	43	-	-	-
n	-	-	-	-	-	-	-	-	-
n	143	133	276	123	126	249	97	105	202
	3,50	0,75	2,17	-	1,59	0,80	-	-	-
	0,72	0,12	0,43	-	0,22	0,11	-	-	-
	22,28	4,90	14,01	-	9,67	4,59	-	-	-
	-	-	-	-	-	-	-	-	-

			2024			2023			2022
	u.m.	Man	Woman	Total	Man	Woman	Total	Man	Woman	Total
Total hours worked by employees	h.	224.408	203.917	428.325	228.644	206.847	435.492	149.386	154.183	303.569
Number of injuries at work	n	5	1	6	-	2	2	-	-	-
Number of injuries at work with serious consequences (excluding deaths) 1	n	-	-	-	-	-	-	-	-	-
Number of days of absence due to injuries	g	161	25	186	-	43	43	-	-	-
Deaths	n	-	-	-	-	-	-	-	-	-
Number of employees	n	143	133	276	123	126	249	97	105	202
Incidence rate2		3,50	0,75	2,17	-	1,59	0,80	-	-	-
Severity rate3		0,72	0,12	0,43	-	0,22	0,11	-	-	-
Rate of accidents at work that can be recorded4		22,28	4,90	14,01	-	9,67	4,59	-	-	-
Rate of accidents at work with serious consequences (excluding deaths)5		-	-	-	-	-	-	-	-	-
Rate of deaths resulting from injuries at work6		-	-	-	-	-	-	-	-	-

GRI Standard 403-9 - Employee occupational injuries and injury rates

1 number of days of absence/number of hours worked *1,000

2 number of injuries/number of employees *100

3 number of days of absence/number of hours worked *1,000

4 number of recordable occupational injuries/total number of hours worked *1,000,000

5 number of occupational injuries with serious consequences/total number of hours worked *1,000,000

6 work-related injuries

For 2023, a restatement was made following an improved data collection process. In 2024, the information is not available to Worldconnect AG.

GRI Standard 401– 3 Parental leave

					2023			2022
			2024
	u.m.		Man Woman Total			Man Woman Total			Man Woman Total
Employees who were entitled to parental leave		106	108	214	-	5	5	6	13	19
Employees who have taken parental leave		1	13	14	-	5	5	3	11	14
Employees who returned to work during the reference period after taking parental leave	h	1	13	14	-	5	5	3	11	14
Employees who returned to work after taking parental leave and who are still employed by the organization in the 12 months after returning		1	11	12	-	5	5	3	11	14

In 2022, the information is not available for WorldConnect AG, Systema S.r.l, Coverlab S.r.l and Cellularline Swiss S.a.

In 2023, the information is only available for Cellularline S.p.A.

In 2024, the information is not available for Cellularline Spain, Cover Lab S.r.l., Systema S.r.l. and Worldconnect AG.

Product&Packaging

PRO DUCT &PACKA GING

The following paragraphs explain the processes implemented to ensure high standards of quality and safety of our pro ducts. The strategic initiatives and com pany policies that guide the development of new products and packaging solutions are also described, with the aim of im proving their environmental sustainability and efficiency throughout the entire life cycle.

Product & Packaging

The principles of innovation, quality and sustainability guide the development of our products and their packaging solutions. Our design approach is geared towards creating value for the end user, with the aim of meeting their needs more effectively, while ensuring the minimization of environmental and social impact throughout the product's entire life cycle.

Suppliers BIA score as at 31/12/2024

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Product quality and safety

Quality and safety are fundamental and nonnegotiable requirements within our corporate strategy. They are intrinsic to our organizational identity and are the hallmark of each accessory, giving it reliability, consistent performance and differentiating value in the marketplace.

Quality DNA

The quality of our products is a cornerstone that guides every strategic and operational decision of the company, directly influencing the design and production of each item. In 2018, we established the Quality DNA program, a value framework that gives our products uniqueness and recognition in their target markets, allowing us to highlight concrete competitive advantages through a broad, reliable portfolio that complies with the highest safety standards.

To ensure that the expected quality levels are maintained, we implement a structured system of controls at our production sites, aimed at continuously verifying performance and operational excellence.

All products are subjected to rigorous testing in accordance with current regulations, supplemented by additional tests at internationally accredited laboratories. Before being released onto the market, each item undergoes thorough quality checks, both visual and functional, to ensure its conformity and reliability.

This project provides an in-depth analysis of the distinctive features of our approach to product design and development. The passion, dedication, and unwavering commitment that drive our business are an integral part of our corporate identity and represent differentiating factors that uniquely position us in the competitive landscape.

What we have done: our impact stories

Quality is our best form of expression.

full traceability and verifiability of compliance with European directives on the marketing and distribution of electronic components, with validity extended to major international markets;

careful selection of materials, attention to design, and attention to construction details, aimed at ensuring durability, functionality, and an optimal user experience. To support these standards, we boast third-party certifications, including TÜV Rheinland certification for the safety of our powerbanks;

membership of the Bluetooth SIG Consortium1 , which ensures full compatibility and functional reliability of our wireless audio devices;

active participation in the Wireless Power Consortium, an international organization that promotes the development of open standards for wireless charging. This membership allows us to contribute to the creation of interoperable and universal solutions, reducing technological fragmentation and promoting a simplified and sustainable user experience for the end user.

Regulatory compliance

Design and quality excellence

Interoperability and standardization

Sustainable innovation

Among the qualifying elements of our work are:

1 A global community of more than 36,000 companies working together to unify, harmonise and drive innovation in the broad range of Bluetoothconnected devices. We join the Bluetooth Consortium to ensure the highest levels of performance and safety standards for our devices.

WIRELESS PRODUCTS

NEL 2024 SONO STATI LANCIATI:

ISO 9001:2015 Certification

As a testament to our commitment to operational excellence and proactive quality management, we have achieved ISO 9001:2015 certification, which sets the international standard for quality management systems.

This recognition attests to the adoption of a systemic approach oriented towards continuous improvement, aimed at guaranteeing high quality levels along the entire value chain and minimising potential risks for the end user.

Each product developed by our company is the result of an in-depth market analysis, aimed at the precise identification of the needs and expectations of end users. From the preliminary design stages, we adopt an integrated approach based on criteria of functional reliability, environmental sustainability, and certified quality. In particular, supplier selection is based on rigorous qualification criteria, favoring partners capable of guaranteeing high quality standards and regulatory compliance.

The production process is subject to a continuous quality control system, which includes the implementation of corrective and preventive actions to ensure compliance with technical and regulatory requirements.

Before starting mass production, each product is validated through a pre-production sample, subjected to thorough functional testing and compliance checks with the certifications required for release in the target markets. At the end of the process, each unit undergoes final testing which includes visual and functional checks and, if necessary, further specific tests. The results are shared with suppliers to foster continuous improvement. Our R&D team also carries out spot checks on each incoming batch to ensure consistent quality standards over time.

our accessories are designed to optimize the user experience of digital devices, responding specifically to users' habits and needs. The design and technical features are geared towards maximum practicality, ergonomics and intuitiveness of use.

For this reason, we require our suppliers to fully comply with European regulations on hazardous materials and substances, both for the protection of the end user and for the safety of the operators involved in production.

For more technically complex products, we provide specific guidance on accredited international laboratories where compliance testing to European safety regulations can be performed.

During 2022, only one complaint was registered, concerning a product no longer in production, certified according to an outdated standard. The incident resulted in a negligible sanction and did not generate any RAPEX reports or recall requests.

In 2023, three cases of formal non-compliance were detected in Germany and France, involving information deficiencies on packaging and manuals. Even in these cases, no sanctions were imposed nor were alert or recall procedures activated, as in no case did these formal non-conformities impact consumer safety.

In 2024, of all the communications received from the authorities in relation to any non-conformities having an impact on health and safety, none resulted in a sanction. All communications were responded to with appropriate clarifications/arguments, resulting in positive feedback from the authorities.

each product is designed to ensure the health and safety of the user. Risk assessments are conducted during the development phase to identify and mitigate potential hazards. Safety information is communicated in a transparent and timely manner through technical documentation and user manuals.

the use of selected materials, precision manufacturing, and attention to finishes ensure durability and consistent performance. Our technical expertise allows us to develop solutions that are perfectly compatible with the specifications of the reference digital devices.

we provide clear, complete and verifiable information across all communication channels, including packaging, manuals, and digital content. We avoid statements that are not supported by technical evidence, maintaining a communication approach based on rigor and responsibility.

Functionality

Safety

Reliability

Transparency

To ensure the recognisability and distinctive positioning of our products, we are committed to ensuring:

We place the highest priority on impacts on consumer health and safety.

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Responsible and sustainable marketing

Responsible and sustainable

Just as we place great emphasis on the quality of our products, we place equal importance on providing transparent information to our customers and end users. In particular, we are committed to drafting clear, complete and compliant user manuals, including all the necessary instructions for the correct and safe use of the product. These documents also contain mandatory information on the responsible disposal of end-of-life equipment in line with the applicable environmental directives. In addition, we provide additional information on a voluntary basis, aimed at facilitating the user experience and promoting conscious and sustainable user behaviour.

We promote transparent and structured communication, both internally and externally, about the initiatives undertaken in the field of environmental sustainability. In particular, we promote and disseminate best practices in recycling and responsible resource management, with the aim of raising awareness among all stakeholders and encouraging virtuous behaviour along the entire value chain.

Labelling

In recent years, the Group has focused its efforts on consolidating its ethical marketing initiatives, with particular emphasis on the accuracy, transparency, and compliance of the information provided to the consumer. All actions taken were fully aligned with the guidelines formalized in 2022, ensuring their consistent and systematic application at every point of contact with the public.

One area of particular emphasis was communication concerning the disposal of products and packaging. In this area, further improvements were implemented, particularly for the French market, where specific regulatory requirements for environmental labelling were met. To reinforce this commitment, the systematic inclusion of disposal instructions directly on product packaging has been introduced, accompanied by a QR code that links to a dedicated web page, thus offering consumers clear, up-to-date and easily accessible information.

The ethical marketing manifesto

We have formalized our approach to responsible communication by drafting an Ethical Marketing Manifesto, structured around three strategic axes: people, environment, and product. The document defines the guiding principles that guide our communications activities, promoting values such as inclusiveness, equity, transparency, environmental sustainability, and social responsibility. Particular attention is paid to providing correct information on the disposal of products and their packaging, in line with the company's sustainability objectives. During 2024, the CMO formalized its review of compliance with the Ethical Marketing Manifesto before launching new communication campaigns.

All-round communication

The initiative was created with the aim of extending the company's commitment to sustainability also to environmental communication, with particular reference to endof-life management of products and recycling. The circular economy principle is the foundation of our sustainability strategy, and with this in mind, the project aims to provide the end consumer with clear, accessible and compliant information on the correct way to dispose of packaging and products.

Information on the composition of the materials and how to dispose of them can be found directly on the packaging and also made available via a dedicated web page, accessible via QR code.

This digital platform provides information available in 20 languages to facilitate the proper recycling of materials, promoting sustainable behaviour and inviting users to check the environmental regulations in force in their respective markets.

Section of the website dedicated

to sustainability

To strengthen the transparency and traceability of our environmental and social commitments, we have developed a dedicated sustainability section on our corporate website. This digital space documents our journey of continuous improvement, illustrating projects, initiatives, results, and objectives related to sustainable innovation. Furthermore, the section hosts the periodic publication of our sustainability reports, supporting clear, verifiable, and stakeholder-oriented communication.

Hurry up and visit our website - https://www.cellularlinegroup.com/sostenibilita/

Marketing plays a cross-cutting strategic role, not only in product development, packaging design, and communication strategy, but also in environmental and social sustainability. In this context, our commitment is expressed through the dissemination of accurate, transparent, and functional information, with the aim of consciously supporting consumers in the selection, use, and disposal of our products. Through an integrated multichannel approach, we deliver informative content through packaging, labels, user manuals, and a dedicated section of the company website. We provide technical details on product characteristics and promote proper recycling and disposal practices, in compliance with current regulations. This communication strategy is aimed at generating a positive and measurable impact on the environment and society, contributing to the construction of a more responsible consumption model and promoting transparency as a lever for trust among all stakeholders.

Product&Packaging

PRO DUCT &PACKA GING Research,

development and innovation as a strategy

Research, develop- ment and in- novation as a strategy

Research and innovation represent central strategic levers in our corporate vision. Through constant monitoring of technological evolution and market dynamics, we develop product lines that respond promptly to user needs, while ensuring high competitiveness and customization capabilities. Our accessories stand out for their breadth of offering, functional versatility, and attention to design, making them unique solutions in the industry

BECOME line, range of eco-friendly accessories

The BECOME line was developed to meet the growing demand for products with a reduced environmental impact, expressed by an increasingly aware segment of sustainability-oriented consumers.

In keeping with the evocative meaning of its name, the line aims to offer concrete and measurable solutions for reducing the ecological footprint of our accessories. In recent years, a new range of protective cases and tempered glass for displays has been introduced, made respectively with 100% pre-consumer and 60% post-consumer recycled materials from supply chains certified according to the GRS (Global Recycled Standard). Continuing this approach, new accessories for charging smartphones and tablets were launched in 2024 – including cables and chargers – also made from 100% recycled materials from the GRS supply chain.

The line's packaging has also been designed with eco-friendly criteria in mind: each package is made from 100% recycled and recyclable paper, FSC® (Forest Stewardship Council®) certified, guaranteeing its origin from responsibly and sustainably managed forests. In the context of our sustainability strategy, the BECOME line of eco-friendly products represents a concrete initiative to promote environmental protection and the protection of marine biodiversity. By purchasing products from this line, consumers actively participate in the international "1% for the Planet" program, which encourages companies and individuals to donate 1% of their turnover to non-profit organizations committed to environmental protection. Thanks to this membership, we have donated 1% of the revenue generated by the BECOME line to Sea Shepherd, a non-profit organization recognized globally for its commitment to ocean conservation and the defence of marine wildlife. Additionally, part of the funds were donated to the OPERATION CLEAN WAVES campaign, a project dedicated to the recovery of marine litter such as persistent solid materials, discarded, disposed of or abandoned manufactured products in the marine and coastal environment.

This initiative reinforces the value of the BECOME line not only as a range of sustainable smartphone accessories, but also as a symbol of our tangible commitment to a more responsible future. By collaborating with organizations active in marine protection, we contribute to reducing the environmental impact of our sector and raising consumer awareness of the importance of making informed choices.

What we have done: our impact stories

² GRS, the Global Recycle Standard is an international non-profit organization that guarantees the content of recycled materials by issuing a verified environmental statement.

Improving the su - stainability profile of products

In 2023, we completed the development of a new line of smartphone cases made en tirely from post-consumer recycled plastic sourced from marine and coastal environ ments. These products, marketed starting from March 2023, maintain the expected quality standards and functional perfor mance unchanged, thanks to the careful selection of materials. In previous years we had already started integrating recycled materials into almost all of our case range, with percentages varying from 20% for tran sparent models up to 50% for coloured and book-style ones. In 2024, we delivered on our commitments from previous years to improve the sustainability profile of our pro ducts. We have worked on consolidating compounds with recycled components, in creasing the percentage of recycled mate rial where possible.

The sustainability profiles already present in BECOME have been implemented in some product categories, such as the increase in the percentage of recycled materials within some compounds for the production of bo ok-style cases.

Improved packaging on all products

The integration of sustainability into our cor porate strategy is also reflected in the de sign of our packaging, which is considered not only as a protective element, but as a component with its own environmental life cycle. The approach adopted involves redu cing environmental impact through design solutions geared towards recycling, mate rial reduction, and logistics optimization.

Since 2020, we have started a process of progressively eliminating single-use virgin plastic.

In 2022, the use of this material was redu ced by 60%, with the same volumes sold. In some categories, plastic has been replaced with compostable materials or FSC® certi fied paper.

In 2023, we further reduced the use of sin gle-use plastics and downsized our packa ging, aiming to reduce overall paper con sumption and greenhouse gas emissions associated with logistics.

The proportion of FSC®-certified paper used in our packaging in 2024 stands at 92%, in line with the previous year.

Among the most significant initiatives, we note the reduction in the size of packaging in the "Energy" category, which allowed a saving of 9 tons of paper, while keeping sa les volumes unchanged.

In addition, the Recharge line recorded an average reduction of 20% in packaging vo lume, with benefits also in terms of logistical efficiency and reduction of the overall envi ronmental impact.

Overall, these actions saved 19 tons of pa per in 2023.

Over the course of the year, we launched technical tests to remove the polypropyle ne lamination from the papers used in our packaging, with the aim of improving the efficiency of the recycling process and increasing cellulose recovery. Preliminary results have been positive and gradual implemen tation is planned across some product lines in 2024. At the same time, we have started a process of structural redesign of the packa ging, aimed at facilitating the separation of materials by the consumer and promoting correct and simplified recycling.

In recent years, Cellularline has embarked on a structured and ambitious path towards environ mental sustainability, with the aim of significantly reducing the ecological impact of its activities. This commitment resulted in a thorough and systematic review of materials and production processes, with a focus on displays, hooks, packaging and POP (Point of Purchase) materials.

All-round environmental sustai - nability*: even the exhibition materials

Our display materials contain

recycled raw materials

over 80% 3 which equates to a recycled content level in the polymer base of

In the case of cardboard displays, Cellular line chose to completely eliminate surface lamination, a practice that compromised the material's recyclability and increased its en vironmental impact. At the same time, the use of solvent-based inks was abandoned, replaced by vegetable oil-based inks, whi ch are more sustainable and less harmful to the environment. Another key step was the exclusive use of FSC-certified cardboard, sourced from responsibly managed forests, which guarantees the traceability and su stainability of the raw material. This transfor mation affected all the main display types, including floor-standing displays, counter displays, palboxes and structures with shel ves. In particular, the introduction of DISPA FSC cardboard has made it possible to re place materials with a high environmental impact such as forex and aluminum, while maintaining high standards of resistance and aesthetic quality.

The permanent displays also underwent a substantial overhaul. Cellularline has cho sen to move towards a circular economy model, favoring the use of recycled and recyclable materials and progressively re ducing the use of virgin materials. Non-cer tified cardboard has also been completely eliminated in this area, in favour of trace able and sustainable materials. The design of the displays has been rethought to faci litate disassembly and proper disposal of components, thus contributing to more effi cient end-of-life management. Environmen tal communication was enhanced through the application of labels clearly indicating the composition of materials and disposal methods, as well as the inclusion of the recycling symbol directly on the displays. Particular attention was paid to the hooks used to display the products. Cellularline has replaced traditional plastic materials with PPGF30R, a polypropylene-based polymer reinforced with 30% recycled glass fibres. This choice made it possible to main tain high mechanical performance while reducing the environmental impact. In addi tion, logistics were optimized through more efficient packaging, which helped reduce waste and improve warehouse manage ment. The packaging of POP materials was also revised in line with the sustainability goals. Cellularline has stopped purchasing non-certified cardboard, adopting only ma terials compliant with FSC standards. This choice has strengthened the consistency of the environmental message throughout the value chain, ensuring greater transparency and reliability towards customers and busi ness partners.

A distinctive element of Cellularline's gre en journey is its desire to communicate its environmental choices clearly and transpa rently. To this end, the company introduced an environmental labelling system on all di splay materials, with precise information on composition and proper disposal. Certifica tions, such as FSC and the recycling symbol, were made visible directly on the products, helping to raise consumer awareness and strengthen the company's reputation.

³ The information provided is derived from the supplier's declaration and applies to the material as it leaves the manufacturing facilities and does not cover any additions or modifications made by processors.

Development and innovation are central strategic elements in our corporate vision, complemented by an approach geared towards environmental sustainability and the circular economy. Decisions regarding the launch of new projects are based on two methodological pillars: market analysis and sustainable life cycle assessments.

Sustainability-driven product development requires an integrated approach that con siders not only environmental impacts but also social ones throughout the entire life cycle. SLCA analysis is a fundamental tool for assessing the social impacts associated with each stage of the production chain, from raw materials to disposal. Through this methodology, risks and opportunities re lated to human rights, working conditions, community involvement and corporate go vernance can be identified.

SLCA findings enable the design of pro ducts that minimize negative impacts on pe ople and maximize social benefits. This can result in more ethical sourcing choices, gre ater transparency in production processes and improved working conditions in develo ping countries. Furthermore, the integration of the SLCA promotes the adoption of more credible and effective corporate social re sponsibility strategies.

During the design phase, the collected data can guide decisions on materials, suppliers, and processes, promoting innovative solu tions geared towards collective well-being. In this way, sustainable product develop ment is not only an environmental goal, but also becomes a lever for social justice and the continuous improvement of corporate performance.

The internal Marketing and Research & De velopment functions have played a key role in integrating sustainability criteria into the design processes, helping to define innova tive and responsible solutions.

One of the distinctive elements of our ap proach is the constant investment in rese arch and development of alternative mate rials, capable of guaranteeing high technical performance and, at the same time, a lower environmental footprint. We have experi mented with blends of virgin and recycled plastic, as well as bio-based polymers, while maintaining unchanged quality standards. Furthermore, in collaboration with our sup pliers, we have launched initiatives to reu se production waste, such as the reuse of 100% of microfiber (PU) residues within the textile supply chain.

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Supplier management

Sharing production processes with our supplier network makes their involvement in the product development phases a strategic factor of paramount importance.

Continuous improvement of our environmental and social impact is closely linked to responsible management and careful selection of supply partners, in line with our ethical and sustainability standards.

Active collaboration with qualified suppliers is a key element in ensuring consistency between the company's objectives and the practices adopted along the entire value chain

Business Social Compliance Initiative (BSCI)

Starting in 2022, we joined the qualification process of the Business Social Compliance Initiative (BSCI), promoted by Amfori, as an international benchmark for monitoring and improving social responsibility performance in the supply chain. In the first phase, the focus was on consolidating relations with existing suppliers, for whom inspection visits had been carried out and pre-pandemic information collected. The analysis of the BSCI reports allowed us to evaluate the level of compliance with the ethical and social requirements set by the standard. In 2023, the qualification process was further standardized and integrated into procurement protocols, strengthening the control over strategic suppliers. In 2024, we took an active role in monitoring and supporting the improvement of their social responsibility ratings, extending participation in the program to suppliers in the Far East who were already BSCI certified. Process standardization has led us to have 84% of our suppliers BSCI certified. (the percentage refers only to suppliers from the Far East)

ESG Survey

During 2024, we expanded an ESG survey aimed at our suppliers, with the aim of assessing their level of maturity regarding environmental, social and governance sustainability.

The results show that over 69% of suppliers have certifications attesting to the quality of their processes, compliant environmental management, and respect for human rights in the workplace.

Supply Chain Evolution

In 2024, we continued the Supply Chain Evolution program, building on the activities undertaken in 2023, with the aim of transforming our supply chain into an enabling factor in the company's sustainability strategy. The project promotes a new relationship model with suppliers, based on the principles of co-evolution, transparency and shared responsibility, through the implementation of sustainability-oriented initiatives in line with the company's strategic plan.

What we have done: our impact storie

Supplier qualification

We have enhanced our procurement process by introducing a supplier qualification dashboard, applicable to both product and service suppliers. This tool allows for the mapping and evaluation of sustainability performance, assigning a score based on ESG criteria, such as: compliance with a code of ethics, publication of a code of ethics, compliance with ISO standards on workplace safety, emissions management, water management, etc. Although the score does not directly impact the supplier's formal qualification, it represents a strategic indicator for identifying opportunities for improvement and guiding supply chain development actions.

During 2024, the qualification tool was digitized using internal tools. We have launched a supplier onboarding and qualification project through which we will equip ourselves with a platform that will make the process even more structured

Supplier assessment

We also developed a dynamic evaluation dashboard, integrated into the Vendor Rating process, to monitor the evolution of supplier performance over time. Suppliers are required to periodically complete a structured questionnaire, which includes indicators relating to innovation, risk management and sustainability. The data collected allows us to evaluate performance trends and define personalized co-evolution plans.

Supplier code of conduct

We have formalized a Supplier Code of Conduct, signed by approximately 83% of our supplier base, which includes a section dedicated to ESG principles. The document defines operational guidelines for aligning with corporate values throughout the entire supply chain, promoting collaborative, transparent relationships based on mutual trust, while respecting the environment, human rights, and the law.

Cellularline's Supplier Code of Conduct promotes environmental sustainability, human rights protection and safe working conditions. Values diversity, inclusion, and professional growth. It requires ethical, transparent, and legally compliant behaviour. It supports the involvement of local communities and socially responsible practices. Adherence to the Code is mandatory and subject to ongoing review and improvement.

Sustainable procurement policy

We have adopted a Sustainable Procurement Policy, which extends ESG criteria to the procurement of goods and services not directly related to production. The policy promotes the adoption of materials and solutions with low environmental and social impact, raising awareness among the corporate functions involved on corporate social responsibility aspects. The goal is to reduce supply chain risks and implement proactive management tools to mitigate them, contributing to the creation of shared value.

Supporting suppliers in difficulty

In keeping with our collaborative approach to supply chain management, we are committed to actively supporting suppliers facing temporary economic challenges or rapidly evolving business environments. Over the last three years, this commitment has been further strengthened to respond to the difficulties arising from the global macroeconomic context. In the event of production or raw material procurement issues, we ensured our partners had upfront and transparent visibility into future commitments to facilitate business continuity.

The dashboard allows us to

How we do it

The main procurement categories include

Finished ready-to-market products;

Semi-finished products to be packaged in Italy;

Communication materials to support business initiatives;

Consumables for order preparation;

Consumables and packaging.

Strategic supplier management is key to ensuring operational continuity, product quality, and alignment with corporate sustai nability principles. The qualification process involves preliminary visits to production fa cilities, conducted by the technical and pro curement teams, to assess financial stability, production capacity, quality standards, and compatibility with company needs. To sup port this phase, an assessment questionnai re (Vendor Assessment Form) is used to col lect information on organizational structure, certifications, sustainability practices and ethical compliance. Suppliers who succes sfully pass this stage gain access to techni cal sampling and the start of economic ne gotiations.

We recognise that our company's perfor mance is closely linked to that of our sup pliers and therefore promote collaborative dialogue with them, believing in the impor tance of mutual learning and co-evolution. As mentioned, we have established a Sup plier Code of Conduct, committing to ensu -

ring high standards of working conditions, fair treatment of employees, and ethical practices throughout our supply chain. We ask all our suppliers to return the "Commit ment Form" signed by a legal representati ve, thus demonstrating their commitment to adhering to these principles.

We send all our suppliers a complete set of supply specifications, which includes all ge neral information, operating instructions for order management, shipping and labelling, as well as for collecting weight and volume tric data. The specifications also include the Code of Ethics and the rules for dealing with the Group. We ask all suppliers to comply with Italian Legislative Decree 231/01 and to adhere to the ethical and behavioral prin ciples of the Code of Ethics and the Orga nization, Management and Control Model, available at www.cellularlinegroup.com or upon request. By accepting the specifica tions, the supplier declares having read these documents. Any conduct in breach of these provisions entitles us to terminate the contract.

We constantly monitor our suppliers through a series of assessment indicators. Updated every six months, they reflect the supplier's degree of adherence to our requirements in the supply specifications. In addition, we update a monthly indicator to monitor production lead time, which is critical for our business. This monitoring takes place through specific meetings in which supplier performance is assessed and necessary actions to improve lead time management are identified.

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Future commitments

ESG REPORT 2024 204 205

Our commitment to invest human and economic resources has continued, in order to develop new products based on recyclable materials to reduce environmental impacts.

Among the most significant sustainability initiatives, we highlight the introduction of new packaging for the case category, made entirely of paper. Thanks to an innovative opening and closing system, it was possible to completely eliminate the use of magnets, currently present in traditional packs, which will be gradually replaced over the course of 2025.

We are investigating new solutions to reduce the size of the packaging used for our products, thereby saving material and transport-related climate gas emissions. We fully confirm the objectives communicated for reducing the size of the packaging produced.

These targets are in line with new EU regulations, which include the "right-sizing" principle and strict limits on empty space inside packaging, with a maximum of 50% by 2030. Reducing weight and volume not only meets legislative commitments, but also improves logistical efficiency, containing emissions and costs. Our plan includes a review of packaging layouts and the introduction of optimised materials, ensuring product integrity and functionality at all times. We are therefore fully consistent and determined in pursuing more sustainable, efficient and compliant packaging.

In 2023, we launched some innovation projects related to the implementation of recycled material for the production of more complex products (products equipped with printed circuit boards and/or with different combinations of materials used for their production). We set ourselves the challenging goal of having, within the next two years, at least one range of our three product macro-categories (protection and style, charging and utility, and audio) completely made from recycled material. Regarding the implementation of recycled compound in other product categories, we are currently working to extend the application of this solution by 2025. The goal is to ensure consistency with previously declared commitments, while ensuring adequate technical and environmental quality of new products. The process involves a phase of testing and optimization of materials for each category involved. We therefore remain aligned with the sustainability roadmap already sha-

red.

We want to continue with our supply chain analysis, assessment and engagement programme to promote its improvement according to drivers and standards that take into account environmental and social impacts. In 2025 we started a project that will provide us with a platform through which we will qualify suppliers.

We intend to further engage suppliers in 2025 by asking them to sign the "Commitment Form," thus ensuring that they have read and accepted the principles included in the Code of Conduct.

After the assessment of a pilot group of suppliers, we plan to extend the project to all our suppliers with an annual turnover of Euro 5,000 or more in the future.

Investments

Packaging renewal

Packaging size optimisation

Extending the range of products made from recycled material

Supply chain improvement

Supplier code of conduct

Business Social Compliance Initiative (BSCI)

Future commitments

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208

GRI Standard 416-2 – Incidents of non-compliance concerning the health and safety impacts of products and services

GRI Standard 301-1 – Materials used by weight or volume

GRI Standard 301-2 – Recycled input materials used

GRI 204-1 – Proportion of spending on local suppliers

Plastic4	U.M.	2024	2023	2022
Energy range		18	21	22
Protection range	Tons	17	20	0
Audio range		13	18	16
Total		48	59	38

Plastic5	U.M.	2024	2023
Energy range		1,3	5,0
Protection range	Tons	7,5	1,5
Audio range		-	30,0
Total		8,8	36,5

Certified suppliers	U.M.	2024	2023	2022
ISO 9001 certification	%	48%	42%	10%
ISO 14001 certification		29%	18%	43%
SA8000 Certification		2%	4%	4%

Paper	U.M.	2024	2023	2022
Energy range	Tons	282	395	241
Protection range		223	228	287
Audio range		98	142	225
Total		603	765	753

236,3	272,6

Paper	U.M.	2024	2023
Energy range		236,3	272,6
Protection range	Tonnellate	175,8	171,5
Audio range		91,8	90,8
Total		503,9	534,9

Incidents of non-compliance concerning health and safety impacts of products and services	U.M.	2024	2023	2022
Incidents of non-compliance with regulations resulting in a fine or penalty	N.	0	0	1
Incidents of non-compliance with regulations resulting in a warning		0	3	0
Incidents of non-compliance with voluntary codes		0	0	0

The 2024 data relating to the materials used refers to Cellularline S.p.A., Coverlab, Peter Jackel and WorldConnect.

4 It should be noted that for the 2023 values for materials used, a restatement was made from 20 to 21 (Energy range), from 19 to 20 (Protection range) and from 35 to 18 (Audio range), due to an improvement in the data collection process. 5 It should be noted that for the 2023 values for materials used, a restatement was made from 6.5 to 5 (Energy range), due to an improvement in the data collection process.

The figures refer to Cellularline S.p.A., as they are more significant in terms of volume.

The certification data for the Group's Italian companies was calculated for 2024.

The data refer exclusively to the company Cellularline S.p.A.

Total value of supplies of goods, servi- ces and working services by geographi- cal area	U.M.	2024	2023	2022
Italy	%	25%	27%	20%
Europe (excluding Italy)		14%	7%	6%
Asia		61%	66%	74%
America		0%	0%	0%
Total		100%	100%	100%

ENVI RON MENT

For us, environmental protection represents a founding principle and an ethical duty towards present and future generations. The awareness that every corporate action generates an impact on the ecosystem guides our strategic and operational choices on a daily basis. We believe that respect for the environment is an expression of responsibility, culture and civil progress.

as a lever of shared value and sustainable growth. We operate with the aim of minimising environmental impacts throughout the life cycle of our products and processes, adopting a systemic and proactive approach.

In the following paragraphs, we will detail the initiatives, projects and concrete actions that we have implemented – and are committed to developing in the coming years – to actively contribute to the ecological transition and the protection of the planet.

Our mission, vision and corporate purpose are oriented towards environmental sustainability

Environment area score

Monitoring environmental performance

ENVI RON MENT

The installation of the photovoltaic plant at the Reggio Emilia headquarters was completed in 2022. In order to maximize the production of electricity from renewable sources and increase the level of energy self-sufficiency, a technical decision was made to install part of the photovoltaic modules on the north-facing slopes as well. This design choice was motivated by the objective of achieving a self-consumption rate of 70%, thereby optimizing the overall efficiency of the system in relation to the building's energy needs.

The main central information systems, including management and application systems, are hosted at the Data Centre of WIIT Group located in Milan (MI). The energy efficiency of such infrastructures is a critical aspect, as the power consumption associated with IT equipment constantly running, power systems and cooling devices is particularly high. In this context, the optimization of energy consumption not only responds to the logic of containing operating costs, but is also part of a broader decarbonization strategy, in line with the objectives of climate neutrality. The electricity used to power our information systems is fully certified by the Guarantee of Origin (hereinafter also referred to as "GO"), a certificate issued by Gestore dei Servizi Energetici S.p.A. (hereinafter also referred to as "GSE") which guarantees the sourcing of energy from renewable sources, in accordance with Directive 2009/28/EC. The GO certification is issued exclusively for energy produced by plants with IRGO technical identification, as provided for by the GSE Technical Procedure approved by Decree of the Ministry of Economic Development of 21 December 2007, following the opinion of the Ministry of the Environment and Protection of Land and Sea.

Combating climate change requires a coordinated set of interventions, some of which can be implemented in the short term to generate immediate and measurable environmental impacts.

With this in mind, we chose to join the initiative promoted by Ecologi, an international organization whose core business focuses on mitigating climate-changing emissions and restoring natural ecosystems.

Through a funding model based on voluntary contributions from all over the world, Ecologi develops and supports projects with high environmental and social value, aimed at reducing greenhouse gas emissions, reforestation and environmental regeneration.

self-generated electricity consumed

self-generated electricity returned to the grid

125.8MWh electricity consumed

What we have done: our impact stories

Our photovoltaic plant

Data centres and sustainability

Ecologi

Monitoring environmental performance

Decarbonization is one of the most relevant and paramount challenges of our time, in line with the European Union's strategic goal of achieving climate neutrality by 2050.

This is an ambitious goal, the achievement of which requires a shared and systemic commitment along the entire value chain. Each actor involved is called to assume full responsibility for their environmental impacts and adopt concrete measures for their progressive elimination.

"Another step towards achieving the sustainability goals we have set ourselves"

As part of this collaboration, we decided to use the platform to donate 1,500 trees to our suppliers as a symbol of shared commitment, and to finance the planting of a further 1,500 trees in selected areas, actively contributing to offsetting emissions and promoting biodiversity.

During 2024, Cellularline strengthened its commitment to environmental sustainability through a series of initiatives aimed at protecting biodiversity, in collaboration with 3Bee. The "Oasi della Biodiversità" project represents a strategic pillar of our path of environmental responsibility, integrating concrete actions of ecosystem regeneration with the adoption of advanced technologies for environmental monitoring. Among the main activities implemented is the adoption of the "Colmena CLG" hive, located in the region of León, Spain. This area, characterized by wild blooms of heather and calluna, is renowned for the production of honeys with high organoleptic qualities, appreciated internationally. The initiative is part of a regenerative beekeeping framework that enhances local biodiversity and contributes to the protection of pollinators, key elements in healthy ecosystems. At the same time, through the "Pollinate the Planet" project, we supported the planting and care of 150 trees with high nectariferous potential, including hawthorn, acacia, blackthorn and cherry. These species, selected for their

ability to offer scalar and continuous flowering, represent a fundamental resource for feeding pollinators and maintaining local ecological balances. The intervention also contributed to offsetting CO2 emissions due to the direct absorption capacity of the trees and improved soil quality.

A concrete example of this commitment is the company forest in Calderino, Emilia-Romagna, where 100 trees belonging to seven different species

3Bee: OASI Cellularline were planted. The nectariferous potential of the forest was calculated on the basis of scientific data, estimating an annual production capable of supporting thousands of bees. CO2 absorption was estimated based on the growth of individual tree species, projected over a twenty-year life cycle. In support of these activities, Cellularline is participating in the construction of one of the largest technological networks for environmental monitoring in Europe. In particular, we use "Flora", a tool developed in collaboration with the European Space Agency for satellite analysis of the capacity of territories to host pollinators, and "Spectrum", an IoT device based on bioacoustics for detecting and identifying pollinators in an area. These tools enable advanced scientific monitoring and provide valuable data for biodiversity research and conservation.

The results achieved as at 30 June 2023, the latest available data, highlight the effectiveness of the project: 108 privately created and managed oases, over 40,000 trees planted and managed, and an estimated production of 26,000 kg of nectar per year. The project is fully aligned with the Sustainable Development Goals of the 2030 Agenda, in particular SDG 13 (Climate Action) and SDG 15 (Life on Earth), and meets the requirements of the new European CSRD regulation on sustainability reporting. Through transparent and targeted communication to stakeholders, these initiatives contribute to raising public awareness of the importance of pollinator and biodiversity protection, while strengthening the company's reputation and promoting a sustainable and responsible development model.

Bees protected by Cellularline group

2 3Bee Technological Hive Adoptions

2

Farmers supported by 3Bee technology

2 Beekeepers supported by 3Bee technology

139 Kg

Nectar produced by trees during the project over an average of 20 years

331 Million

Million The flowers pollinated by bees monitored

Nectar-producing trees protected by Cellularline group

RicicliAmo project for a correct internal waste management

We continue our commitment to responsible and conscious management of corporate waste, despite the limited direct environmental impact of our activities. We have implemented an internal waste management regulation, which clearly defines the operational practices to be adopted to ensure the proper separation, collection and disposal of materials. This document has been formally distributed to all staff, ensuring that each employee is adequately informed and actively involved in the implementation of our environmental policy. To support this approach, we provide all new employees with concrete tools to reduce their individual environmental impact, including reusable water bottles, bamboo cups and cutlery, thus promoting the daily use of recyclable and low-impact materials.

These initiatives are part of a broader internal awareness program aimed at consolidating a corporate culture oriented towards environmental sustainability.

Corporate travel policy

The Group recognizes business travel as a strategic element for operational management and business development, but is at the same time aware of the environmental implications associated with professional mobility. With this in mind, a Corporate Travel Policy aimed at promoting responsible and environmentally friendly travel practices has been implemented. The policy encourages the use of public transport and sustainable mobility solutions, contributing to the reduction of emissions related to business travel. In line with this approach, the Car Policy has also recently been updated, introducing the obligation – where technically and economically feasible – to opt for the rental of hybrid or electric vehicles. In support of this initiative, operational guidelines were provided to employees, with the aim of promoting informed choices consistent with the principles of environmental sustainability. Complementing the planned measures, Cellularline has introduced a sustainable mobility incentive scheme, which provides 30% discounts for the use of Local Public Transport and fuel vouchers for employees participating in carpooling initiatives. These tools aim to promote virtuous behaviours and strengthen the culture of sustainability even in everyday working life

Home-work travel plan

During 2024, the internal survey to update the Home-Work Travel Plan (HWTP) was regularly conducted.

By administering a questionnaire to all staff, the Company collected specific data on employees' mobility habits and their willingness to adopt more sustainable modes of travel. The initiative allowed us to monitor the effectiveness of the measures already implemented and to identify further opportunities for improvement.

Thanks to the use of a dedicated mobile application, employees were able to easily and immediately record the kilometres travelled, specifying the type of vehicle used. This allowed us to accurately distinguish between private transport and solutions with a lower environmental impact, such as public transport, cycling and carpooling, thus facilitating the development of an accurate estimate of the impacts generated.

The program included the provision of targeted incentives, including contributions for local public transport subscriptions and rewards for the adoption of shared mobility practices, with the aim of encouraging virtuous behaviour and strengthening the culture of sustainable mobility within the organization.

Scope 3 emissions

Greenhouse gas (GHG) emissions classified as Scope 3 include all indirect emissions generated along the Group's value chain, originating from sources not directly controlled by the organization and over which it has limited influence. This category represents the largest and most complex component of indirect emissions, requiring significant efforts in terms of data collection, tracking and reporting. Despite its methodological complexity, Scope 3 emissions analysis is essential for a holistic assessment of a company's environmental impact, as it allows for a comprehensive mapping of environmental externalities associated with the Group's activities. In 2022, for the first time, an assessment of Scope 3 emissions related to transport activities was carried out, with a focus on logistics.

The results were expressed in tons of CO2 equivalent and were integrated into the Group's environmental reporting system. For further methodological and quantitative details, please refer to the chapter on GRI disclosure

The analysis included

Inbound logistics:

emissions from the transport of materials and supplies to our operating sites

Outbound logistics

emissions associated with the distribution of products and goods to end customers

How we do it

Our strategy for promoting sustainable development, protecting biodiversity and mitigating environmental impacts is based on an essential guiding principle: collective action. We believe that achieving concrete and lasting results requires the synergetic involvement of all stakeholders – public bodies, academic institutions, industrial partners and citizens – in a perspective of intersectoral cooperation. In this context, we adopt a participatory approach that involves the active involvement of stakeholders at all stages of the design, implementation and monitoring of our environmental initiatives. Our long-term vision, oriented towards a low-carbon future, is translated into operational actions in the short term through a careful assessment of the environmental impacts generated in terms of climate-changing emissions, waste generation, energy consumption and use of natural resources. Our organizational structure, without production plants, allows us to maintain a low-impact environmental profile, with negligible effects on waste management, water consumption and electricity use. This is the result of both strategic choices and the Group's transversal commitment to sustainability. Since 2020, we started a systematic process of mapping energy consumption and greenhouse gas emissions, which has led to the adoption of measures aimed at reducing them, raising awareness among staff and offsetting residual emissions. Actions implemented include the rationalization of operating hours of air conditioning and heating systems, as well as training and awareness campaigns aimed at employees.

In previous years, we also formalised an agreement with some strategic suppliers for the annual acquisition of Scope 3 emissions data, reinforcing our commitment to increasingly accurate and transparent environmental reporting. We are aware that the path to climate neutrality is complex and long-term, but we remain determined to continue with consistency and responsibility. The Group's commitment to these issues is reflected in the "Net Zero" path undertaken in 2024, whose first step was the creation of a Carbon Footprint (CFO) for the 2023 emissions of the Parent Company Cellularline S.p.A. The first CFO was crucial in order to identify potential areas for improvement and intervention on which to focus. In addition, Cellularline S.p.A. stared during 2025 a first LCA analysis for two product categories, which should be concluded in December 2025 with the achievement of ISO certification. Cellularline's Road to Zero has as its ultimate goal the definition of a medium-long term Decarbonization Plan

Benefits of LED Lighting

Completed in 2023, the project to upgrade the lighting system at the Reggio Emilia headquarters included the installation of the latest generation of dimmable LED systems. In 2024, the intervention began to generate the first concrete benefits, with energy savings estimated at approximately 63,800 kWh per year, contributing to the reduction of environmental impact and the improvement of visual comfort in work environments.

At the same time, the optimization of heating and air-conditioning time slots continued, in order to adapt the use of plants to actual operational needs, further improving the energy efficiency of company buildings.

International Initiatives

As part of our commitment to global sustainability, the Group has strengthened its participation in major international initiatives, promoting an integrated vision of environmental responsibility along the entire value chain. In particular, through its companies, the Group is a member of Amfori, a leading organization in supporting companies in improving their sustainability performance, with a specific focus on transparency, human rights and responsible practices in procurement processes. During the year, SKROSS®, the Group's brand specialising in travel connectivity solutions, entered into a strategic partnership with the Lufthansa Group, marking a significant step towards reducing the carbon emissions from air transport. By virtue of this agreement, SKROSS® has taken on the role of "Corporate Programme SAF Ambassador" for Lufthansa Group, pledging to support the use of 2,000 kg of Sustainable Aviation Fuel (SAF) in the six months following the start of the collaboration, through a dedicated financial contribution. The stated aim is to maintain this role in the long term, consolidating an ongoing commitment to more sustainable forms of mobility. This initiative is in line with the sustainability strategy of SKROSS®, which has been working with the Swiss climate foundation "myclimate" for years and promotes innovative solutions to reduce the environmental impact of the travel industry. As emphasized by Christian Ernst, Co-CEO of SKROSS® and member of the sustainability team, the partnership with Lufthansa represents a natural extension of the corporate identity, which is strongly linked to the world of international travel. The adoption of SAF, in particular, allows to directly address the environmental challenges of the aviation sector, contributing to a concrete transition towards a more responsible transport model. Meinrad Berchtel, Head of Product Management and member of the sustainability team at SKROSS®, also highlighted the importance of innovation as a strategic lever for sustainability. The investment in SAF is interpreted not only as an environmental mitigation action, but also as an opportunity to drive change in the travel industry by promoting solutions that can ensure lasting environmental benefits. The approach adopted reflects a systemic vision of sustainability, in which innovation, responsibility and international cooperation become key tools for generating shared and lasting value.

Offset emissions

In 2024, Cellularline took a significant step in its path of environmental respon sibility by actively contributing to offset ting CO2 emissions through the financing of certified carbon credits. In cooperation with Treedom Società Benefit, the Group financed the purchase of 500 carbon cre dits, equivalent to 500 tons of CO2, to support the international "Improved Co oking Stoves" project, certified according to the Gold Standard.

The project, active in the province of Cabo Delgado, Mozambique, promotes the di stribution of energy-efficient cooking sto ves, replacing the traditional three-stone burners, still widely used in rural commu nities. These traditional systems require large amounts of wood or charcoal, con tributing significantly to deforestation, land degradation and greenhouse gas emissions. The new efficient cooking sto ves allow the same amount of food to be cooked using less fuel, thus reducing the environmental impact and improving the living conditions of local families.

The project has already distributed over 9,000 cooking stoves and saves an ave rage of 6,000 to 9,000 tons of CO2 equi valent per year. In addition to the environ mental benefits, the initiative has a strong social impact, contributing to local deve lopment and women's empowerment, as women are often the ones responsible for collecting firewood and preparing meals.

ENVI RON MENT

Future commitments

The gas price crisis has highlighted what the fight against climate change has been suggesting for years: savings, efficiency and attention to waste are key to embarking on a sustainable path. With this in mind, we will continue to strive in the future to reduce gas consumption through more conscious management (e.g., reduction of switch-on times) and the increasing use of renewable energy sources.

Further in-depth analyses aimed at monitoring and reducing consumption are also being evaluated.

In the coming years we will strive to increase the use of renewable energy in order to achieve 100% coverage of our energy needs. To fulfil this commitment, we are considering switching to a new energy supplier.

We are committed to offsetting 500 tons of CO2 of the emissions generated in 2025.

We will conduct LCA analysis of the environmental impacts of the production process of at least one product category.

We will continue the path undertaken in 2024 with the aim of defining a medium- to long-term Decarbonization Plan.

Reducing gas and electricity consumption

Renewable energy

Offsetting Scope 3 emissions

LCA analysis

Net Zero Programme

ENVI RON MENT

GRI Standard 302-1– Energy consumption within the organisation1 GRI Standard 305-1, 305-2, 305-3– Emissions2

Direct energy consu mption	U.M.	2024	2023	2022
Fuels from non-renewable sources
Natural gas	GJ	6.759	1.250	2.211
Petrol		552	579	677
Diesel		5.086	6.108	6.732
Total		12.397	7.937	9.620

	U.M.	2024	2023	2022
Natural gas	tCO2e	344	70	112
Petrol		33	41	42
Diesel		336	455	449
Scope 1 direct emis sions		713	566	603

	U.M.	2024	2023	2022
Scope 2 indirect emis sions (location based)	tCO2e	80	49	82
Scope 2 indirect emis sions (market based)		64	49	137

	U.M.	2024	2023	2022
Scope 1 + Scope 2 indi rect emissions (location based)	tCO2e	792	615	685
Scope 1 + Scope 2 indi rect emissions (market based)		776	615	740

	U.M.	2024	2023	2022
Upstream transportation and distribution (SCOPE 3)	tCO2e	2.680	2.147	2.263
Downstream transportation and distribution (SCOPE 3)		307	452	339
Scope 3 indirect emissions		2.987	2.599	2.602

Direct energy consumption	U.M.	2024	2023	2022
Fuel from renewable sources (photovoltaics, self-generated electricity)
Of which consumed	GJ	457	405	193
Of which returned to the grid		252	205	82
Total		709	610	275
Indirect energy consumption	U.M.	2024	2023	2022
From non-renewable sources		504	389	1.076
Certified from renewable sources (e.g. Certificates of Origin)	GJ	441	265	0
Total electricity purchased		945	654	1.076

Total energy consumption (direct and indirect)	U.M.	2024	2023	2022
Total energy consumed	GJ	13.799	8.996	10.889

The deviation from previous years regarding the natural gas item is due to the new reporting scope which includes the Peter Jackel Company.

The deviation from previous years regarding the natural gas item is due to the new reporting scope which includes the Peter Jackel Company.

It should be noted that for the 2023 values of Scope 2 location based emissions, a restatement was carried out, going from 29 to 49, due to an improvement in the data collection process.

The deviation from the year 2023 is mainly due to the update of the reporting scope for 2024, which includes the Peter Jackel Company.

1 In order to understand the figure, initiatives to reduce consumption and the increased use of renewable energy through self-generation from photovoltaic panels should be considered. In 2023, the information is not available for Cellular Swiss S.A and Subliros S.L. Coverlab S.r.l; DEFRA 2024, 2023 and 2022 (Department for Environment Food & Rural Affairs) conversion factors were used to calculate consumption expressed in GJ.

2 For the calculation of Scope 1 emissions, the DEFRA 2024, 2023 and 2022 conversion factors were used. Scope 2 - Market Based emissions were calculated according to the conversion factors of the European Residual Mixes 2023, and Scope 2 - Location Based emissions according to the factors provided by the ISPRA Report 2024; Scope 3 data are derived from direct measurements, i.e. from the reports of the main inbound and outbound logistics providers; therefore, no estimates were used for the calculation of this category.

Annexes

External initiatives, memberships and associations

The activities of the institute are primarily aimed at:

• Retailer & Brand Companies
• Manufacturers of store materials
• Advertising and promotion agencies
• Research institutions
• Service companies
• Companies engaged in the sector in various capacities

Retail Institute Italy is a member of the international board of NRF - National Retail Federation, the largest Retail association in the world; it is a partner of EHI - Retail Institute Germany, with which it works in synergy in order to strengthen its presence in Europe and to offer its members benefits in terms of vision, sharing of know-how, strategic contacts, scenarios and market trends.

Retail Institute Italy is the benchmark association for Retail in Italy. Its mission is to promote the culture and the growth of the sector as a whole, by offering indispensable content and strategic activities in order to stay up-to-date and competitive in an increasingly complex market scenario. Retail institute NOISIAMOFUTURO® S.R.L. Noisiamofuturo® s.r.l. was created as a company of communication and organization of major events. Over the years, it has developed a unique know-how in the national scene, in the design and development of formats aimed in particular at young people, for projects and events with a high content of participation and interactivity. Proprietary projects have been developed, with the support and adhesion of high level Partners (Institutions, Entities, Companies). Festivaldeigiovani®, FabbricheAperte®, Latuaideadimpresa®, Noisiamofuturo® and the Social Journal are just a few of the major projects that have put more than 60,000 young people throughout Italy into a network. The Orientation and Job Placement Organizational Unit of the University of Parma aims to promote initiatives in favour of undergraduates and graduates, in order to favour the development of active job search skills, as well as to increase collaboration activities with companies, associations and entities, with a view to directly linking the world of university education and the world of work. We have been collaborating with the Orientation and Job Placement service since 2014, which in synergy with the courses of study and the 9 Departments, organises a series of orientation interventions aimed at guiding those who are about to finish or who have already completed a university course of study towards the world of work, encouraging the improvement of soft skills and the knowledge of professional profiles and of the related opportunities; it also promotes events of direct contact with recruiters, with the aim of increasing the knowledge of job opportunities in the area.

Unindustria Reggio Emilia is the Association that represents almost 1,000 companies in the province and over 48,000 employees. Adhering to the Confindustria System, it was first created on 1 January 2013, from the merger of the Industrial Association of the Province of Reggio Emilia and PMI Reggio Emilia. Unindustria Reggio Emilia is the point of reference for companies and a driving element stimulating the development of the Reggio Emilia territorial system. It is committed to representing its member companies in dealings with institutions and economic, political, trade union, social

Unindustria Reggio Emilia

and cultural administrations and with the public. It avails itself of professionals and collaborators who offer an integrated network of services (trade union and labour advices, assistance to internationalisation, to the tax-financial sector and to everything concerning the productive, technological and economic sphere).

External initiatives, member- ships and associations

The largest HR Community that brings together the most important and prestigious national and multinational companies, which through benchmarking, problem solving, networking, exchange of knowledge and skills on HR topics, thanks to effective and flexible working tools, is able to meet the needs of our HR team, both on- and off-line, local and global, providing the organization with innovative training content, oriented to continuous improvement.

The Internship & Placement Office of the Marco Biagi Department of Economics, with which we have been collaborating since 2014 by participating in meetings with Companies, promotes and manages the offer of training and orientation internships and scholarships in Italy and abroad.

One Percent for the Planet is an international organization whose members contribute at least 1% of their annual sales to environmental causes. Their mission is to "build and activate an alliance of companies financially committed to creating a healthy planet".

HRC – HR Community

UNIMORE University of Modena and Reggio Emilia

1% for the Planet

TEDx is created in the spirit of the TED mission. The programme is organised to give local communities, organisations and individuals the opportunity to stimulate dialogue through TED-like experiences, but at a local level and independently. All TEDx events operate under a license granted by TED itself. TEDx is a space for discussion and connection, personal and professional growth.

Cellularline introduced WebApp – Mobility connect, dedicated to employee travel monitoring, active from 2024. This tool allows the collection of useful data for the calculation of Scope 3 emissions related to corporate mobility and enables the provision of incentives for virtuous behaviour, such as the use of environmentally friendly means of transport. The platform represents a concrete innovation in internal mobility management, encouraging conscious choices and contributing to the reduction of the company's carbon footprint.

ANDEC represents, protects and promotes all the activities related to the relevant market and it actively contributes to improving relations between companies and the market. The Association plays an important representative role vis-à-vis national authorities, entities and institutions and it is a valuable interlocutor for those working in this field.

Sustainability Makers is the Italian association of sustainability professionals, serving as a national benchmark for promoting ESG culture and expertise. It partners with the global network of the World Business Council for Sustainable Development (WBCSD), contributing to the dissemination of sustainable practices in line with international standards.

TEDx Reggio Emilia

WebApp – Mobility connect

ANDEC

(National

Association of

Civil Electronics

Dealers)

Sustainability Makers

Annexes

GRI reconciliation table

Material topics	GRI indicators	Paragraph reference or related document
Anti-corruption and business ethics	205-3 Confirmed incidents of corruption and actions taken	4.1 Sustainability Governance
Economic performance and creation of added value	201-1 Direct economic value directly generated and distributed	4.1 Sustainability Governance 4.2 Tax management 4.4 GRI disclosure
Economic performance and creation of added value	207-1 Approach to tax	4.1 Sustainability Governance 4.2 Tax management 4.4 GRI disclosure
Economic performance and creation of added value	207-2 Tax governance, control and risk management	4.1 Sustainability Governance 4.2 Tax management 4.4 GRI disclosure
Economic performance and creation of added value	207-3 Stakeholder engagement and management of concerns related to tax	4.1 Sustainability Governance 4.2 Tax management 4.4 GRI disclosure
Customer centricity	-	5.2 Customer centricity
Evolution of distribution channels	-	5.2 Customer centricity
Innovation and R&D	-	7.4 Research and development and innovation as a strategy for a sustainable development
Product quality and safety	416-1 Assessment of the health and safety impacts of product and service categories	7.2 Product quality and safety 7.7 GRI disclosure
Product quality and safety	416-2 Incidents of non-compliance concerning the health and safety impacts of products and services	7.2 Product quality and safety 7.7 GRI disclosure
Ethical Marketing	417-2 Incidents of non-compliance concerning product and service information and labelling	7.3 Responsible and sustainable marketing
Ethical Marketing	417-3 Incidents of non-compliance concerning marketing communications	7.3 Responsible and sustainable marketing
Climate change & Energy efficience	302-1 Energy consumption within the organization	8.2 Monitoring of environmental performance 8.4 GRI disclosure
Climate change & Energy efficience	302-2 Energy consumption outside of the organization	8.2 Monitoring of environmental performance 8.4 GRI disclosure
Climate change & Energy efficience	305-1 Direct (Scope 1) GHG emissions	8.2 Monitoring of environmental performance 8.4 GRI disclosure
Climate change & Energy efficience	305-2 Energy indirect (Scope 2) GHG emissions	8.2 Monitoring of environmental performance 8.4 GRI disclosure
Climate change & Energy efficience	305-3 Other indirect (Scope 3) GHG emissions	8.2 Monitoring of environmental performance 8.4 GRI disclosure

GRI reconciliation tableI		Material topics	GRI indicators	Paragraph reference or related document
			Environmental impact of products	301-1 Materials used by weight or volume	7.4 Research and development and innovation as a strategy for a sustainable development 7.7 GRI disclosure
	The following table shows the correlation between the indicators envisaged by the GRI Standards Sustainability Reporting Guidelines and the topics identified as most relevant, which are reported in this document.		Environmental impact of products	301-2 Recycled input materials used	7.4 Research and development and innovation as a strategy for a sustainable development 7.7 GRI disclosure
			Diversity, Equity & Inclusion	405-1 Diversity of governance bodies and employees	6.2 Diversity, Equity & Inclusion 6.8 GRI disclosure
Material topics	GRI indicators	Paragraph reference or related document	Diversity, Equity & Inclusion	405-2 Ratio of basic salary and remuneration of women to men	6.2 Diversity, Equity & Inclusion 6.8 GRI disclosure
Anti-corruption and business ethics	205-3 Confirmed incidents of corruption and actions taken	4.1 Sustainability Governance	People care & employee development	401-1 New employee hires and employee turnover	6.3 People development and enhancement 6.4 People Care 6.8 GRI disclosure
Economic performance and creation of added value	201-1 Direct economic value directly generated and distributed	4.1 Sustainability Governance 4.2 Tax management 4.4 GRI disclosure	People care & employee development	401-2 Benefits provided to full-time employees that are not provided to temporary or part-time employees	6.3 People development and enhancement 6.4 People Care 6.8 GRI disclosure
Economic performance and creation of added value	207-1 Approach to tax	4.1 Sustainability Governance 4.2 Tax management 4.4 GRI disclosure	People care & employee development	401-3 Parental leave	6.3 People development and enhancement 6.4 People Care 6.8 GRI disclosure
Economic performance and creation of added value	207-2 Tax governance, control and risk management	4.1 Sustainability Governance 4.2 Tax management 4.4 GRI disclosure	People care & employee development	404 -1 Average hours of training per year per employee	6.3 People development and enhancement 6.4 People Care 6.8 GRI disclosure
Economic performance and creation of added value	207-3 Stakeholder engagement and management of concerns related to tax	4.1 Sustainability Governance 4.2 Tax management 4.4 GRI disclosure	People care & employee development	404-3 Percentage of employees receiving regular performance and career development reviews	6.3 People development and enhancement 6.4 People Care 6.8 GRI disclosure
Customer centricity	-	5.2 Customer centricity	Employee Health & Safety	403-1 Occupational health and safety management system	6.5 Occupational health and safety 6.8 GRI disclosure
Evolution of distribution channels	-	5.2 Customer centricity
Innovation and R&D	-	7.4 Research and development and innovation as a strategy for a sustainable development	Employee Health & Safety	403-2 Hazard identification, risk assessment, and accident investigation	6.5 Occupational health and safety 6.8 GRI disclosure
Product quality and safety	416-1 Assessment of the health and safety impacts of product and service categories	7.2 Product quality and safety 7.7 GRI disclosure	Employee Health & Safety	403-3 Occupational health services	6.5 Occupational health and safety 6.8 GRI disclosure
Product quality and safety	416-2 Incidents of non-compliance concerning the health and safety impacts of products and services	7.2 Product quality and safety 7.7 GRI disclosure	Employee Health & Safety	403-4 Worker participation, consultation, and communication on occupational health and safety	6.5 Occupational health and safety 6.8 GRI disclosure
Ethical Marketing	417-2 Incidents of non-compliance concerning product and service information and labelling	7.3 Responsible and sustainable marketing	Employee Health & Safety	403-5 Worker training on occupational health and safety	6.5 Occupational health and safety 6.8 GRI disclosure
Ethical Marketing	417-3 Incidents of non-compliance concerning marketing communications	7.3 Responsible and sustainable marketing	Employee Health & Safety	403-6 Promotion of worker health	6.5 Occupational health and safety 6.8 GRI disclosure
Climate change & Energy efficience	302-1 Energy consumption within the organization	8.2 Monitoring of environmental performance 8.4 GRI disclosure	Employee Health & Safety	403-7 Prevention and mitigation of occupational health and safety impacts directly linked by business relationships	6.5 Occupational health and safety 6.8 GRI disclosure
Climate change & Energy efficience	302-2 Energy consumption outside of the organization	8.2 Monitoring of environmental performance 8.4 GRI disclosure	Employee Health & Safety	403-9 Work-related injuries	6.5 Occupational health and safety 6.8 GRI disclosure
Climate change & Energy efficience	305-1 Direct (Scope 1) GHG emissions	8.2 Monitoring of environmental performance 8.4 GRI disclosure	Privacy and cyber security	418-1 Substantiated complaints concerning breaches of customer privacy and losses of customer data	6.4 People Care
		8.2 Monitoring of environmental performance	Respect for human rights	-	7.5 Supplier management
Climate change & Energy efficience	305-2 Energy indirect (Scope 2) GHG emissions	8.4 GRI disclosure	Sustainable supply chain	204-1 Proportion of spending on local suppliers	7.5 Supplier management 7 .7 GRI disclosure
Climate change & Energy efficience	305-3 Other indirect (Scope 3) GHG emissions	8.2 Monitoring of environmental performance 8.4 GRI disclosure	Social initiatives	201-1 Direct economic value directly generated and distributed	6.6 Community support 4.4 GRI disclosure

Annexes

GRI standard / other source	Disclosure	Location		Omission		GRI sector standard ref. no
			Requirement(s)	Omitted reason	Explanation
GRI 2: General Disclosures 2021	2-1 Organizational details	2.2 Corporate data, Group composition, Administrative Body, Shareholder disclosure (pp. 17-24)	-	-	-	-
GRI 2: General Disclosures 2021	2-2 Entities included in the organization's sustainability reporting	1. 2 Methodologies and criteria for preparing the Report (pp. 9-12)	-	-	-	-
GRI 2: General Disclosures 2021	2-3 Reporting period, frequency and contact point	1. 2 Methodologies and criteria for preparing the Report (pp. 9-12)	-	-	-	-
GRI 2: General Disclosures 2021	2-4 Restatements of information	1. 2 Methodologies and criteria for preparing the Report (pp. 9-12)	-	-	-	-
GRI 2: General Disclosures 2021	2-5 External assurance	KPMG Report	-	-	-	-
GRI 2: General Disclosures 2021	2-6 Activities, value chain and other business relationships	3.5 Business model (pp. 61-64)	-	-	-	-
GRI 2: General Disclosures 2021	2-7 Employees	6.8 People & Community - GRI disclosure (pp. 155-164) -		-	-	-
GRI 2: General Disclosures 2021	2-8 Workers who are not employees	6.8 People & Community - GRI disclosure (pp. 155-164) -		-	-	-
GRI 2: General Disclosures 2021	2-9 Governance structure and composition	4.1 Sustainability Governance (pp. 65-76) 4.4 Governance - GRI disclosure (pp. 155-164)	-	-	-	-
GRI 2: General Disclosures 2021	2-10 Appointment and selection of the highest governance body	4.1 Sustainability Governance (pp. 65-76) The members of the Board of Directors are appointed on the basis of their professional skills and knowledge	-	-	-	-
GRI 2: General Disclosures 2021	2-11 Chairman of the highest governance body	The Chairman of the Board of Directors is not a top manager in the Company	-	-	-	-
GRI 2: General Disclosures 2021	2-12 Role of the highest governance body in overseeing impact management	Sharing with the BoD the main points and goals regarding sustainability, in order to guide the group's commitments.	-	-	-	-
GRI 2: General Disclosures 2021	2-13 Delegation of responsibility for managing impacts	No formal delegation of responsibility for impact management.	-	-	-	-
GRI 2: General Disclosures 2021	2-14 Role of the highest governance body in sustainability reporting	The Board of Directors is not responsible for reviewing and approving the information reported in the Sustainability Reporting; it is approved and reviewed by the Chief Executive Officer.	-	-	-	-

GRI 2: General Disclosures 2021	2-15 Conflicts of interest	4.1 Sustainability Governance (pp. 65-76) - Before opening of board meetings, information is given on relevant situations concerning conflicts of interest in relation to items on the agenda. The Group, also in accordance with the applicable regulations, has established the Related Party Transactions Committee and a function for legal and corporate business. In case of conflict of interest, disclosure was made to the relevant stakeholders. For further details, please refer to the Group Code of Ethics.	-	-	-
GRI 2: General Disclosures 2021	2-16 Communication of critical concerns	No reports or communications of critical concerns - were received during the financial year.	-	-	-

GRI Content Index

Declaration of use

Cellularline Group reported in accordance with the GRI Standards for the period 1.01.2024 - 31.12.2024 Standard

GRI 1: Foundation 2021

GRI standard / other source	Disclosure	Location		Omission		GRI sector standard ref. no
			Requirement(s)	Omitted reason	Explanation
GRI 2: General Disclosures 2021	2-17 Collective knowledge of the highest governance body	The Group presented the ESG Report to the BoD and conducted an induction activity addressed to the BoD on sustainable development. 4.3 Governance - Future commitments (pp. 81-84)	-	-	-	-
GRI 2: General Disclosures 2021	2-18 Evaluation of the performance of the highest governance body	The Rules of the Board of Directors provide for the Board of Directors to carry out, every three years, in view of the renewal of the administrative body, an assessment of the size, composition and actual functioning of the Board itself and its Committees, also considering the role it has played in defining strategies and monitoring the progress of management and adequacy of the internal control and risk management system, and expressing guidance on the composition of the Board deemed optimal. For further details, please refer to the report on corporate governance and ownership structure.	Requirement a), b) and c)	Information not available	Currently, there is no process in place for assessing the BoD performance on ESG aspects
GRI 2: General Disclosures 2021	2-19 Remuneration policies	4.1 Sustainability Governance (pp. 65-76)	-	-	-	-
GRI 2: General Disclosures 2021	2-20 Process to determine remuneration	4.1 Sustainability Governance (pp. 65-76)	-	-	-	-
GRI 2: General Disclosures 2021	2-21 Annual total compensation ratio	6.8 People & Community - GRI disclosure (pp. 155-164) -		-	-	-
GRI 2: General Disclosures 2021	2-22 Statement on sustainable development strategy	1.1 Letter to our stakeholders (pp. 6-8)	-	-	-	-
GRI 2: General Disclosures 2021	2-23 Policy commitments	7.5 Supplier management (pp. 195-202) 7.6 Product & Packaging - Future Commitments (pp. 203-206)	-	-	-	-
GRI 2: General Disclosures 2021	2-24 Embedding commitments	4.1 Sustainability Governance (pp. 65-76) 4.3 Governance - Future commitments (pp. 81-84) 6.2 Diversity, Equity & Inclusion (pp. 113-118) 6.7 People & Community - Future commitments (pp. 151-154) 7.5 Supplier management (pp. 195-202) 7.6 Product & Packaging Future Commitments (pp. 203-206)	-	-	-	-
GRI 2: General Disclosures 2021	2-25 Processes to remediate negative impacts	6.2 Diversity, Equity & Inclusion (pp. 113-118) 6.4 People Care (pp. 127-136) 6.5 Occupational health and safety (pp. 137-142) 6.6 Community support (pp. 143-150) 7.5 Supplier management (pp. 195-202) 8.2 Monitoring of environmental performance (pp. 215-226)	-	-	-	-
GRI 2: General Disclosures 2021	2-26 Mechanisms for seeking advice and raising concerns	4.1 Sustainability Governance (pp. 65-76)	-	-	-	-
GRI 2: General Disclosures 2021	2-27 Compliance with laws and regulations	No non-compliance with laws and regulations reported for FY 2024	-	-	-	-
GRI 2: General Disclosures 2021	2-28 Membership associations	9.1 External initiatives, memberships and associations (pp. 235-240)	-	-	-	-
GRI 2: General Disclosures 2021	2-29 Approach to stakeholder engagement	3.4 Stakeholder mapping and engagement (p. 57-60) -		-	-	-
GRI 2: General Disclosures 2021	2-30 Collective bargaining agreements	100% of employees covered by collective bargaining agreements for the Italian companies of the Group	-	-	-	-
GRI 3: Material Topics 2021	3-1 Process to determine material topics	3.3 Our priorities and material topics (pp. 45-56)	-	-	-	-
GRI 3: Material Topics 2021	3-2 List of material topics	3.3 Our priorities and material topics (pp. 45-56)	-	-	-	-

GENERAL DISCLOSURES

GRI standard / other source	Disclosure	Location	Omission			GRI sector standard ref. no
			Requirement(s)	Omitted reason	Explanation
GRI 3 – Material Topics 2021	3-3 Management of material topics	4.1 Sustainability Governance (pp. 65-76) 4.2 Tax management (pp. 77-80) 4.3 Governance - Future commitments (pp. 81-84) 4.4 Governance - GRI disclosure (pp. 155-164)
	201-1 Direct economic value directly generated and distributed	4.1 Sustainability Governance (pp. 65-76) 4.2 Tax management (pp. 77-80) 4.4 Governance - GRI disclosure (pp. 155-164)
	207-1 Approach to tax	4.2 Tax management (pp. 77-80) 4.4 Governance - GRI disclosure (pp. 155-164)
	207-2 Tax governance, control and risk management	4.2 Tax management (pp. 77-80) 4.4 Governance - GRI disclosure (pp. 155-164)
	207-3 Stakeholder engagement and management of concerns related to tax	4.2 Tax management (pp. 77-80)

			GRI sector standard ref. no
Requirement(s)	Omitted reason	Explanation

GRI standard / other source	Disclosure	Location		Omission
			Requirement(s)	Omitted
GRI 3 – Material Topics 2021	3-3 Management of material topics	7.2 Product quality and safety (pp. 169-176)
	416-1 Assessment of the health and safety impacts of product and service categories	7.2 Product quality and safety (pp. 169-176)
	416-2 Incidents of non compliance concerning the health and safety impacts of products and services	7.2 Product quality and safety (pp. 169-176) 7.7 Product & Packaging - GRI disclosure (p. 207-210)

GRI standard / other source	Disclosure	Location	Omission		GRI sector standard ref. no
			Requirement(s)	Omitted reason	Explanation
GRI 3 – Material Topics 2021	3-3 Management of material topics	7.5 Supplier management (pp. 195-202)
	204-1 Proportion of spending on local suppliers	7.5 Supplier management (pp. 195-202) 7.7 Product & Packaging - GRI disclosure (p. 207-210)

GRI standard / other source	Disclosure	Location	Omission			GRI sector standard ref. no
			Requirement(s)	Omitted reason	Explanation
GRI 3 – Material Topics 2021	3-3 Management of material topics	6.4 People Care (pp. 127-136)
	418-1 Substantiated complaints concerning breaches of customer privacy and losses of customer data	6.4 People Care (pp. 127-136)

GRI standard / other source	Disclosure	Location	Omission		GRI sector standard ref. no
			Requirement(s)	Omitted reason	Explanation
GENERAL DISCLOSURES
GRI 3 – Material Topics 2021	3-3 Management of material topics	4.1 Sustainability Governance (pp. 65-76)
	205-3 Confirmed incidents of corruption and actions taken	4.1 Sustainability Governance (pp. 65-76) No corruption incidents occurred during 2024.

MATERIAL TOPIC – ANTI CORRUPTION AND BUSINESS ETHICS

MATERIAL TOPIC – ECONOMIC PERFORMANCE AND CREATION OF ADDED VALUE

MATERIAL TOPIC – PRODUCT QUALITY AND SAFETY

MATERIAL TOPIC – SUSTAINABLE SUPPLY CHAIN

MATERIAL TOPIC – PRIVACY E CYBERSECURITY

GRI standard / other source	Disclosure	Location	Omission		GRI sector standard ref. no
			Requirement(s)	Omitted reason	Explanation
GRI 3 – Material Topics 2021	3-3 Management of material topics	5.2 Customer centricity (pp. 93-104) 5.3 Customer & Users - Future Commitments (pp. 105-108)

GRI standard / other source	Disclosure	Location	Omission		GRI sector standard ref. no
			Requirement(s)	Omitted reason	Explanation
GRI 3 – Material Topics 2021	3-3 Management of material topics	5.2 Customer centricity (pp. 93-104) 5.3 Customer & Users - Future Commitments (pp. 105-108)

MATERIAL TOPIC – INNOVATION E R&D MATERIAL TOPIC – EMPLOYEE HEALTH AND SAFETY

MATERIAL TOPIC – ETHICAL MARKETING

MATERIAL TOPIC – CUSTOMER CENTRICITY

MATERIAL TOPIC – EVOLUTION OF DISTRIBUTION CHANNELS

			GRI sector standard ref. no
Requirement(s)	Omitted reason	Explanation

GRI standard / other source	Disclosure	Location		Omission
			Requirement(s)	Omitted
GRI 3 – Material Topics 2021	3-3 Management of material topics	6.5 Occupational health and safety (p. 137-142) 6.8 People & Community - GRI disclosure (pp. 155-164)
	403-1 Occupational health and safety management system	6.5 Occupational health and safety (p. 137-142) 6.8 People & Community - GRI disclosure (pp. 155-164)
	403-2 Hazard identification, risk assessment, and incident investigation	6.5 Occupational health and safety (p. 137-142) 6.8 People & Community - GRI disclosure (pp. 155-164)
	403-3 Occupational health services	6.5 Occupational health and safety (p. 137-142) 6.8 People & Community - GRI disclosure (pp. 155-164)
	403-4 Worker participation, consultation, and communication on occupational health and safety	6.5 Occupational health and safety (p. 137-142) 6.8 People & Community - GRI disclosure (pp. 155-164)
	403-5 Worker training on occupational health and safety	6.5 Occupational health and safety (p. 137-142) 6.8 People & Community - GRI disclosure (pp. 155-164)
	403-6 Promotion of worker health	6.5 Occupational health and safety (p. 137-142) 6.8 People & Community - GRI disclosure (pp. 155-164)
	403-7 Prevention and mitigation of occupational health and safety impacts directly linked by business relationships	6.5 Occupational health and safety (p. 137-142) 6.8 People & Community - GRI disclosure (pp. 155-164)
	403-9 Work-related injuries	6.5 Occupational health and safety (p. 137-142) 6.8 People & Community - GRI disclosure (pp. 155-164)
	403-10 Work-related ill health	6.5 Occupational health and safety (p. 137-142) 6.8 People & Community - GRI disclosure (pp. 155-164)

GRI standard / other source	Disclosure	Location	Omission		GRI sector standard ref. no
			Requirement(s)	Omitted reason	Explanation
GRI 3 – Material Topics 2021	3-3 Management of material topics	7.3 Responsible and sustainable marketing (pp. 177-184)
	417-2 Incidents of non compliance concerning product and service information and labelling	Five cases were recorded of non-compliance with regulations on information and labelling of products; these have resulted in warnings.
	417-3 Cases of non-compliance concerning marketing communications	There were no incidents of non-compliance concerning marketing communications

MATERIAL TOPIC – PEOPLE CARE & EMPLOYEE DEVELOPMENT

GRI standard / other source	Disclosure	Location	Omission		GRI sector standard ref. no
			Requirement(s)	Omitted reason	Explanation
GRI 3 – Material Topics 2021	3-3 Management of material topics	6.3 People development and enhancement (p. 119-126) 6.4 People Care (pp. 127-136) 6.8 People & Community - GRI disclosure (pp. 155-164)
	401-1 New employee hires and employee turnover	6.3 People development and enhancement (p. 119-126) 6.4 People Care (pp. 127-136) 6.8 People & Community - GRI disclosure (pp. 155-164)
	401-2 Benefits provided to full-time employees that are not provided to temporary or part-time employees	6.3 People development and enhancement (p. 119-126) 6.4 People Care (pp. 127-136) 6.8 People & Community - GRI disclosure (pp. 155-164)

GRI standard / other source	Disclosure	Location	Omission			GRI sector standard ref. no
			Requirement(s)	Omitted reason	Explanation
GRI 3 – Material Topics 2021	3-3 Management of material topics	4.1 Sustainability Governance (pp. 65-76) 4.4 Governance - GRI disclosure (pp. 155-164) 6.2 Diversity, Equity & Inclusion (pp. 113-118) 6.8 People & Community - GRI disclosure (pp. 155-164)
	405-1 Diversity of governance bodies and employees	4.1 Sustainability Governance (pp. 65-76) 4.4 Governance - GRI disclosure (pp. 155-164) 6.2 Diversity, Equity & Inclusion (pp. 113-118) 6.8 People & Community - GRI disclosure (pp. 155-164)
	405-2 Ratio of basic salary and remuneration of women to men	6.2 Diversity, Equity & Inclusion (pp. 113-118) 6.8 People & Community - GRI disclosure (pp. 155-164)

	GRI standard / other source	Disclosure	Location	Omission		GRI sector standard ref. no
				Requirement(s)	Omitted reason	Explanation
	GRI 3 – Material Topics 2021	3-3 Management of material topics	6.6 Community support (pp. 143-150) 6.8 People & Community - GRI disclosure (pp. 155-164) 9.1 External initiatives, memberships and associations (pp. 235-240)
	201-1 Direct economic value directly generated and distributed	6.6 Community support (pp. 143-150) 6.8 People & Community - GRI disclosure (pp. 155-164)

GRI standard / other source	Disclosure	Location	Omission			GRI sector standard ref. no
			Requirement(s)	Omitted reason	Explanation
GRI 3 – Material Topics 2021	3-3 Management of material topics	6.2 Diversity, Equity & Inclusion (pp. 113-118) 7.5 Supplier management (pp. 203-206)

MATERIAL TOPIC – DIVERSITY, EQUITY & INCLUSION

MATERIAL TOPIC – RESPECT FOR HUMAN RIGHTS

MATERIAL TOPIC – SOCIAL INITIATIVES

MATERIAL TOPIC – CLIMATE CHANGE & ENERGY EFFICIENCY

MATERIAL TOPIC – ENVIRONMENTAL IMPACT OF PRODUCTS

GRI standard / other source	Disclosure	Location	Omission		GRI sector standard ref. no
			Requirement(s)	Omitted reason	Explanation
GRI 3 – Material Topics 2021	3-3 Management of material topics	8.2 Monitoring of environmental performance (pp. 215-226) 8.3 Future Commitments (pp. 227 - 230) 8.4 Environment - GRI disclosure (pp. 231-234)
	302-1 Energy consumption within the organization	8.2 Monitoring of environmental performance (pp. 215-226) 8.4 Environment - GRI disclosure (pp. 231-234)
	305-1 Direct (Scope 1) GHG emissions	8.2 Monitoring of environmental performance (pp. 215-226) 8.4 Environment - GRI disclosure (pp. 231-234)
	305-2 Energy indirect (Scope 2) GHG emissions	8.2 Monitoring of environmental performance (pp. 215-226) 8.4 Environment - GRI disclosure (pp. 231-234)
	305-3 Other indirect (Scope 3) GHG emissions	8.2 Monitoring of environmental performance (pp. 215-226) 8.4 Environment - GRI disclosure (pp. 231-234)

GRI standard / other source	Disclosure	Location	Omission		GRI sector standard ref. no
			Requirement(s)	Omitted reason	Explanation
GRI 3 – Material Topics 2021	3-3 Management of material topics	7.4 Research and development and innovation as a strategy for a sustainable development (pp. 185-194) 7.7 Product & Packaging - GRI disclosure (p. 207-210)
	301-1 Materials used by weight or volume	7.4 Research and development and innovation as a strategy for a sustainable development (pp. 185-194) 7.7 Product & Packaging - GRI disclosure (p. 207-210)
	301-2 Recycled input materials used	7.4 Research and development and innovation as a strategy for a sustainable development (pp. 185-194) 7.7 Product & Packaging - GRI disclosure (p. 207-210)

GRI standard / other source	Disclosure	Location	Omission			GRI sector standard ref. no
			Requirement(s)	Omitted reason	Explanation
	401-3 Parental leave	6.3 People development and enhancement (p. 119-126) 6.4 People Care (pp. 127-136) 6.8 People & Community - GRI disclosure (pp. 155-164)
	404-1 Average hours of training per year per employee	6.3 People development and enhancement (p. 119-126) 6.4 People Care (pp. 127-136) 6.8 People & Community - GRI disclosure (pp. 155-164)
	404-3 Percentage of employees receiving regular performance and career development reviews	6.3 People development and enhancement (p. 119-126) 6.4 People Care (pp. 127-136) 6.8 People & Community - GRI disclosure (pp. 155-164)

KPMG S.p.A. Revisione e organizzazione contabile Viale Giovanni Falcone, 30/A 43121 PARMA PR Telefono +39 0521 236211 Email it-fmauditaly@kpmg.it PEC kpmgspa@pec.kpmg.it

(This independent auditors' report has been translated into English solely for the convenience of international readers. Accordingly, only the original Italian version is authoritative.)

Independent auditors' report on the ESG report

To the board of directors of Cellularline S.p.A.

We have been engaged to perform a limited assurance engagement on the 2024 ESG report (the "ESG report") of the Cellularline Group (the "group").

Directors' responsibilities for the ESG report

The directors of Cellularline S.p.A. (the "parent") are responsible for the preparation of an ESG report in accordance with the "Global Reporting Initiative Sustainability Reporting Standards" issued by GRI - Global Reporting Initiative (the "GRI Standards").

The directors are also responsible for such internal control as they determine is necessary to enable the preparation of an ESG report that is free from material misstatement, whether due to fraud or error.

They are also responsible for defining the group's objectives regarding its sustainability performance and the identification of the stakeholders and the significant aspects to report.

Auditors' independence and quality management

We are independent in compliance with the independence and all other ethical requirements of the International Code of Ethics for Professional Accountants (including International Independence Standards) issued by the International Ethics Standards Board for Accountants (the IESBA Code), which is founded on fundamental principles of integrity, objectivity, professional competence and due care, confidentiality and professional behaviour.

Our company applies International Standard on Quality Management 1 (ISQM Italia 1) and, accordingly, is required to design, implement and operate a system of quality management including policies or procedures regarding compliance with ethical requirements, professional standards and applicable legal and regulatory requirements.

KPMG S.p.A. è una società per azioni di diritto italiano e fa parte del network KPMG di entità indipendenti affiliate a KPMG International Limited, società di diritto inglese.

Ancona Bari Bergamo Bologna Bolzano Brescia Catania Como Firenze Genova Lecce Milano Napoli Novara Padova Palermo Parma Perugia Pescara Roma Torino Treviso Trieste Varese Verona

Società per azioni Capitale sociale Euro 10.415.500,00 i.v. Registro Imprese Milano Monza Brianza Lodi e Codice Fiscale N. 00709600159 R.E.A. Milano N. 512867 Partita IVA 00709600159 VAT number IT00709600159 Sede legale: Via Vittor Pisani, 25 20124 Milano MI ITALIA

Auditors' responsibility

Our responsibility is to express a conclusion, based on the procedures performed, about the compliance of the ESG report with the requirements of the GRI Standards. We carried out our work in accordance with the criteria established by "International Standard on Assurance Engagements 3000 (revised) - Assurance Engagements other than Audits or Reviews of Historical Financial Information" ("ISAE 3000 revised"), issued by the International Auditing and Assurance Standards Board (IAASB) applicable to limited assurance engagements. This standard requires that we plan and perform the engagement to obtain limited assurance about whether the ESG report is free from material misstatement.

A limited assurance engagement is less in scope than a reasonable assurance engagement carried out in accordance with ISAE 3000 revised, and consequently does not enable us to obtain assurance that we would become aware of all significant matters and events that might be identified in a reasonable assurance engagement.

The procedures we performed on the ESG report are based on our professional judgement and include inquiries, primarily of the parent's personnel responsible for the preparation of the information presented in the ESG report, documental analyses, recalculations and other evidence gathering procedures, as appropriate.

Specifically, we performed the following procedures:

• 1 analysing the reporting of material aspects process, specifically how the reference environment is analysed and understood, how the actual and potential impacts are identified, assessed and prioritised and how the process outcome is validated internally;
• 2 comparing the financial disclosures presented in the "Governance" section of the ESG report with those included in the group's consolidated financial statements;
• 3 understanding the processes underlying the generation, recording and management of the significant qualitative and quantitative information disclosed in the ESG report.

Specifically, we held interviews and discussions with the parent's management personnel. We also performed limited procedures on documentation to gather information on the processes and procedures used to gather, combine, process and transmit non-financial data and information to the office that prepares the ESG report.

Furthermore, with respect to significant information, considering the group's business and characteristics, at parent and the subsidiaries Cellular Spain S.L.U, Systema S.r.l., Worldconnect AG, Coverlab S.r.l. and Peter Jäckel GmbH level:

• a) we held interviews and obtained supporting documentation to check the qualitative information for consistency with available evidence;
• b) we carried out analytical and limited procedures to check, on a sample basis, the correct aggregation of data in the quantitative information.

Conclusion

Based on the procedures performed, nothing has come to our attention that causes us to believe that the 2024 ESG report of the Cellularline Group has not been prepared, in all material respects, in accordance with the requirements of the GRI Standards.

Parma, 30 July 2025

KPMG S.p.A.

(signed on the original)

Federico Superchi Director of Audit

Cellularline S.p.A. Via Grigoris Lambrakis 1/A 42122 Reggio Emilia (RE) – Italia

ESG REPORT 2024