Solutions 30 SE — Annual Report (ESEF) 2025

Mar 31, 2026

Solutions30 | Annual Report 2025

2026-03-30

Consolidated Statement of Financial Position

Item	2025-12-31	2024-12-31
ASSETS
Non-current assets
Property, plant and equipment
Goodwill
Intangible assets
Right-of-use assets
Investments in associates
Deferred tax assets
Other non-current financial assets
Other non-current assets
Total non-current assets
Current assets
Inventories
Trade and other receivables
Current tax assets
Other current financial assets
Cash and cash equivalents
Assets held for sale
Total current assets
TOTAL ASSETS
EQUITY AND LIABILITIES
Equity
Share capital
Share premium
Statutory reserve
Retained earnings
Reserve of exchange differences on translation
Other reserves
Equity attributable to owners of parent
Noncontrolling interests
Total equity
Non-current liabilities
Lease liabilities
Provisions
Deferred tax liabilities
Other non-current financial liabilities
Other non-current liabilities
Total non-current liabilities
Current liabilities
Trade and other payables
Current tax liabilities
Lease liabilities
Provisions
Other current financial liabilities
Other current liabilities
Total current liabilities
TOTAL LIABILITIES
TOTAL EQUITY AND LIABILITIES

Statement of Changes in Equity

ifrs-full:ClassesOfShareCapitalDomain	2023-12-31
Share capital
Share premium
Statutory reserve
Retained earnings
Reserve of exchange differences on translation
Equity attributable to owners of parent
Noncontrolling interests
Total equity

ifrs-full:StatutoryReserveMember	2024-01-01	2024-12-31
Statutory reserve

ifrs-full:RetainedEarningsMember	2024-01-01	2024-12-31
Retained earnings

ifrs-full:EquityAttributableToOwnersOfParentMember	2024-01-01	2024-12-31
Equity attributable to owners of parent

ifrs-full:NoncontrollingInterestsMember	2024-01-01	2024-12-31
Noncontrolling interests

ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember	2024-01-01	2024-12-31
Reserve of exchange differences on translation

ifrs-full:OtherReservesMember	2024-12-31
Other reserves

ifrs-full:ClassesOfShareCapitalDomain	2024-12-31
Share capital
Share premium
Statutory reserve
Retained earnings
Reserve of exchange differences on translation
Equity attributable to owners of parent
Noncontrolling interests

ifrs-full:RetainedEarningsMember	2025-01-01	2025-12-31
Retained earnings

ifrs-full:EquityAttributableToOwnersOfParentMember	2025-01-01	2025-12-31
Equity attributable to owners of parent

ifrs-full:NoncontrollingInterestsMember	2025-01-01	2025-12-31
Noncontrolling interests

ifrs-full:ReserveOfRemeasurementsOfDefinedBenefitPlansMember	2025-01-01	2025-12-31
Reserve of remeasurements of defined benefit plans

ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember	2025-01-01	2025-12-31
Reserve of exchange differences on translation

ifrs-full:OtherReservesMember	2025-01-01	2025-12-31
Other reserves

ifrs-full:ClassesOfShareCapitalDomain	2025-12-31
Share capital
Share premium
Statutory reserve
Retained earnings
Reserve of exchange differences on translation
Equity attributable to owners of parent
Noncontrolling interests

Solutions30 | Annual Report 2025 1

RAPPORT ANNUAL REPORT 2025

Energy Connectivity Technology

Solutions30 | Annual Report 2025 2

Message from the Supervisory Board

In 2025, Solutions30 further strengthened its governance framework to support the Group’s transformation in an increasingly demanding environment, especially in the connectivity sector. Close cooperation between the Supervisory Board and the Management Board has ensured and confirmed a strong alignment on the Group’s strategic priorities for the year ahead, including the refocusing of the portfolio of activities, the improvement of margins, the enhancement of cash generation and the creation of value for all stakeholders.

Changes within the Supervisory Board reflected this ambition, with the reappointment of Pascale Mourvillier, as member of the Supervisory Board and as Chair of the Audit, Risk and Compliance Committee, the arrival of Olivier Domergue — initially as a member of the Supervisory Board and then as Chief Performance Officer within the Management Board as of January 1, 2026 — as well as the appointment of Paola Bruno as the Vice-Chair of the Supervisory Board and appointment of Maria Zesch as member of the Supervisory Board. With a Board composed of five experienced and independent members, three of whom are women, the Supervisory Board is well prepared for its tasks lying in front of us.

I would like to warmly thank Alexander Sator, my predecessor as Chairman of the Supervisory Board, who has served on the Supervisory Board since 2015 and supported Solutions30 for more than a decade. He left the company as of December, 31, 2025. His commitment and contribution have been instrumental in the Group’s development.

On behalf of the Supervisory Board, I would like to reaffirm our confidence in the Group’s strategy and our determination to support it in the years to come.

Thomas Kremer
Chair of the Supervisory Board

Solutions30 | Annual Report 2025 3

Message from the Management Board

The year 2025 was marked by significant challenges, profound transformations, and advances that reinforce our long-term vision. In a mixed market environment, we have resolutely continued to implement our refocusing strategy. In France, within the telecommunications sector, we have embarked on a comprehensive transformation of our operating model to adapt to the new realities of this market, where we intend to remain selective in the future. We have also successfully completed our withdrawal from the UK market and the telecommunications market in Spain.

At the same time, the strong performance of the Group’s other businesses confirmed the relevance of our positioning. The energy sector continues to emerge as a powerful driver of growth, particularly in France. In Belgium, following a period of market adjustments, the gradual return to normal levels of activity in the fiber sector continues. In Germany, our structured growth, supported by a favorable investment environment, continues to demonstrate the long-term potential of this strategic market. In other countries, particularly Italy and Spain, the transformation initiatives underway have begun to yield results, with a notable improvement in operational performance.

The year 2025 was also marked by key milestones for Solutions30. We continued to strengthen our organization with the appointment of new executives to bolster management teams closest to the markets, as well as the addition of Olivier Domergue to the Management Board effective January 1, 2026. Olivier will closely oversee the Group’s operational performance, supporting margin improvement and cash flow generation. At the same time, the acquisition of Elektra Realizacje in Poland has strengthened our presence in the energy business, a segment central to our growth strategy. Obtaining major certifications has confirmed the recognition of our standards in quality, sustainability, and compliance. Finally, the launch of landmark projects, including Europe’s largest solar power plant, has demonstrated our ability to contribute to the major transformations currently taking place in energy and digital infrastructure.

True to our multi-technical and multi-local model, and backed by our solid growth drivers, we are approaching 2026 with determination. We remain fully committed to continuing the turnaround of the Group’s performance and returning to a path of sustainable value creation. We sincerely thank you for your continued trust, commitment, and loyalty. Together, we are building the future of Solutions30.

The Management Board

Solutions30 | Annual Report 2025 4

Our Mission

Making the technical and technological changes that are changing our everyday lives more accessible to everyone in their homes and businesses

The digital transformation and the energy transition are changing the world, disrupting society, and transforming the way we live. The digital transformation and the energy transition are changing the world, disrupting society, and transforming the way we live. The teams of Solutions30 SE and its subsidiaries (“Solutions30”) are at the heart of these changes, locally and across Europe, helping to make these major trends a reality. Deploying new technologies, equipping businesses and households, supporting users: this is our commitment to contributing to the development of a more interconnected and sustainable world.

Our Values

Entrepreneurship	Innovation	Commitment	Proximity	Professionalism	Agility
A state-of-the-art technological approach to exceed our clients’ expectations and find new, innovative ways to solve problems	Autonomy and responsibility are essential for our organization.	An ongoing commitment to a more sustainable and connected world, customer satisfaction and value creation.	Proximity to our customers and partners to build solid relationships of trust.	Our professionalism is based on training and development of expertise, as well as integrity and ethical behavior, as performance drivers.	An agile organization for greater efficiency and the ability to adapt quickly to customer demand in the constantly changing world of technology.

Solutions30 | Annual Report 2025 5

A diversified expertise

We offer rapid-response multi-technology services to help accelerate the digital transformation and the energy transition. A true stakeholder in the digital and green revolutions, Solutions30 connects businesses and individuals to networks, installs and maintains digital equipment, and supports end users. Solutions30 helps its customers, many of whom are major international groups, to speed up rollout and adoption times for new technologies, offering end users a more fluid and seamless experience.# Energy ✓Power Grid ✓ PV & BESS ✓ EVC ✓ Smart Meters Connectivity ✓ Fiber Network Constructions ✓ Customer Connections ✓ Legacy Fixed ✓ Mobile Technology ✓ IT & Retail ✓ Rail ✓ IoT ✓ Smart Cities ✓ Security

Our services

DEPLOYMENT Equipment installation and integration, network roll-outs and updates, end user call-outs

MANAGEMENT SERVICES User experience, quality control, process automation

MAINTENANCE Preventative and curative maintenance, user support

CONSULTING Design studies & auditing, planning, and follow-up

Solutions30 | Annual Report 2025 6

History

Year	Event
2003	First steps in the stock market
2005	PC30 created
2007	245 employees Revenue 30,1 M€
2008	Establishment in Italy
2009	PC30 becomes Establishment in the Benelux
2013
2014	Establishment in Germany 850 salariés Revenue 111,5 M€
2015	Establishment in Spain
2018	Establishment in Portugal
2019	Establishment in Poland
2020	Establishment in the United Kingdom Revenue 892.4 M€
2025	5907 employees

Solutions30 | Annual Report 2025 7

Presence

A significant European footprint

SOLUTIONS30 technicians work directly with users (individuals or companies) on behalf of the large groups they represent. They are the key to creating a positive user experience and managing the customer relationship. The density of Solutions30’s network ensures that the right technician is available in the right place, at the right time, and at the best price, while supporting the most demanding roll-out schedules.

A solid technical platform: the backbone of group efficiency

Since its creation in 2003, SOLUTIONS30 has proven itself a trusted partner for major technology and energy companies. The organization combines growth and operational efficiency by using an IT platform that ensures the right skills are available in the right place, at the right time and at the best price. Between 1 and 2% of revenue is invested in this platform every year and has been since the Group was founded.

Acquisitions

Acquisition of a majority stake in Elektra Realizacje sp. z o.o. The company offers a wide range of services, including the replacement of transformer stations, the dismantling and replacement of switchgear, as well as the maintenance of electrical equipment.

Solutions30 becomes the majority shareholder of SO-TEC, a French company specializing in the design and construction of structures for photovoltaic plants, strengthening its position in the solar market in France.

C3 Green is a consulting firm specialized in the development of wind, solar, and biogas projects. This acquisition reinforces our position in the renewable energy sector and significantly expands our service offering.

Solutions30 | Annual Report 2025 8

Financial performance 2025

Key Figures

Metric	Value	Details
Expert technicians	16 000
Revenue (2025)	892.4 M€	In millions of euros
Daily call-outs	+ 80 000	since 2003
Total call-outs	+ 65 millions
Average annual growth (since 2007)	23%
Adjusted EBITDA	65.2 M€	In millions of euros
Net Income, Group Share	(60.7) M€	In millions of euros
Free Cash Flow	(36.3) M€	In millions of euros
Cash Net	15.0 M€	In millions of euros

0987654321

Solutions30 | Annual Report 2025 9

Management Board

Governance

Supervisory Board

Our independent Supervisory Board supervises group management practices and advises the Management Board, while ensuring compliance with applicable rules and regulations. The Supervisory Board is composed of five members, all of whom are independent, and is supported by three specialized subcommittees: the Nominations and Remunerations Committee, the Audit, Risk and Compliance Committee, and the Strategy and ESG Committee.

Management Board

Our Management Board focuses on the proper execution of our profitable growth strategy. The Management Board is made up of five members and is supported by two types of executive committees: a Group Executive Committee (support and groupwide functions) and a Country Executive Committee (operational management).

Name	Role & Start Date	Nationality & Status	Subcommittees
Gianbeppi FORTIS	Co-Founder and Chairman of the Management Board since 2005	Italian
Thomas KREMER	Chair of the Supervisory Board since November 2024 and Member of the Supervisory Board since June 2022	German – Independent Member	Audit, Risk & Compliance Committee, Strategy & ESG Committee, Nominations & Remunerations Committee
Amaury BOILOT	Group Secretary General Member of the Management Board since May 2017	French
Paola BRUNO	Vice Chair of the Supervisory Board since January 2025 and member of the Supervisory Board since June 2023	Italian – Independent Member	Strategy & ESG Committee, Nominations & Remunerations Committee
Luc BRUSSELAERS	Chief Revenue Officer Member of the Management Board since July 2020	Belgian
Pascale MOURVILLIER	Member of the Supervisory Board since December 2021	French – Independent member	Chair of the Audit, Risk and Compliance Committee, Strategy and ESG Committee
Yves KERVEILLANT	Member of the Supervisory Board since May 2019	French – Independent member	Audit, Risk & Compliance Committee, Nominations & Remunerations Committee
Wojciech POMYKALA	Chief Operations Officer Member of the Management Board since February 2023	Polish
Olivier DOMERGUE	Chief Performance Officer Member of the Management Board since January 2026	French
Maria ZESCH	Member of the Supervisory Board since October 2025	Austrian – Independent Member

Solutions30 | Annual Report 2025 10

2025 Key highlights

• France: participation in the Energaia Trade Fair
• Spain: contract with Fastned
• Poland: extension of partnership with Orange
• Italy: S30 and SEEDS join forces for network security
• Italy: renewal of FiberCop contract
• Germany: FTTH project in Köngen
• Belgium: modernization of railway signaling
• France: S30 supports SNCF in social mediation
• Poland: EVC partnership
• France: Geugnon floating PV project
• Belgium: 100 km of low‑voltage cables installed
• S30 at Xurrent Connect 2025
• Italy and France: partnership with Spirii
• Launch of the new website
• Group: participation in the TPICAP conference
• Participation in Intersolar Europe 2025

Solutions 30 | Rapport annuel 2025 11

A unique business model positioned in attractive markets

A B2B2C and B2B model focused on operations

IMPACT AND VALUE CREATION

Area	Metric/Detail
Employees	163,965 hours of training in 2025
	72% of staff covered by ISO 45001 or VCA**
	92% of staff on permanent contracts
Environment	18% of revenue aligned to the green taxonomy.
	50% of revenue from ISO 14001- certified countries (France, Spain, Italy, Lux)
Customers	80,000 daily call-outs
Company /Local communities	88% of revenue related to the digital transformation and energy transition
	Use of local subcontractors
Finance/value distribution	Extra-financial commitment: • SBTi • UN Global Compact • RFAR Charter • Value distribution Economic value distributed mainly to employees (29.4%) and subcontractors (65.9%) of the Group

SUSTAINABLE DEVELOPMENT GOALS

RESOURCES AND STAKEHOLDERS

Human capital

• 5907 Employees¹ (992 women) trained in the code of conduct and group policies
• 28 training centers
• 86 nationalities

Industrial and relational capital

• Smartfix
• MySupplace

Financial Capital

• Multi-year and recurring contracts, with an average duration of 3 years
• 800 clients in various industries
• €892 million in revenue
• €-36 million in cash net of bank debt

Volumes	Automatization	Density
ENERGY	CONNECTIVITY	TECHNOLOGY

Deployment & Integration, Maintenance & Support, Consulting, Management services

The Group's efficient backbone

SMARTFIX A proprietary IT platform, the foundation of an effective organization

• Customer’s CRM
• User end
• Back-Office
• Partial outsourcing of back-office and call centers.

European Footprint (9 countries)

• Benelux ( 40% of revenue)
• France ( 34% of revenue)
• Germany (11% of revenue)
• Other countries (16% of revenue)

¹ Average headcount (excluding the United Kingdom and the Connectivity business in Spain).

Promising mega trends: Digital transformation, Energy transition

Solutions 30 | Rapport annuel 2025 12

A sustainable growth strategy based on promising structural trend

Digital transformation

Already the cornerstone of the digital revolution, networks are increasingly called upon to serve new purposes:

• ■ More screens and simultaneous connections, content that takes up more and more space, the general adoption of video conferencing, streaming, and remote working.
• ■ Tomorrow, we will have connected cities, Industry 4.0, self-driving vehicles, smart buildings, connected objects, and edge computing.

Fixed and mobile networks are adapting and growing: broadband and ultra-fast networks are transforming the way we live, move, work, and play. During the pandemic and then with the rise of remote work and virtual meetings, networks are under more pressure than ever. Today, countries across Europe are upgrading their telecommunications networks to increase their performance. Solutions30 is ready to support national service providers with roll-outs, connecting subscribers, facilitating the adoption of new technologies, and assisting their end users.

Energy transition

Energy efficiency, European energy sovereignty, and renewable energy have become critical issues, in light of the geopolitical context and the looming climate crisis. There are many implications for large energy companies:

• ■ Installing smart electricity and gas meters to better predict and reduce energy consumption.
• ■ Growing solar and wind power production capacity to accelerate the transition to renewable energy sources.
• ■ Installing charging stations to support the development of electric mobility.
• ■ Adapting networks that were originally designed to be supplied by a limited number of production sites, but that are now supplied by a growing number of producers scattered across a wide geographic area.

Other growth opportunities for Solutions30 include expanding charging infrastructure to accelerate the rise of electric mobility, tapping the solar potential of unused sites, such as roofs, open areas, and parking lots, installing connected objects to help manage energy consumption, and maintaining smart grids.Solutions 30 | Rapport annuel 2025 13

Extra‑Financial Performance

Consolidation of Commitments

For more than six years, Solutions30 has been strengthening its strategic approach to corporate social responsibility by deploying structured actions aligned with international best practices. In 2025, the Group intensified its efforts through several key initiatives that illustrate its ambition and commitment to sustainable development:

• Submission of our near‑term greenhouse gas (GHG) emissions reduction targets (Scopes 1, 2 and 3) to the SBTi.
• Renewal of our commitment to the United Nations Global Compact and the Sustainable Development Goals (SDGs).
• Annual review of the Double Materiality Assessment (DMA), ensuring its continuous update.
• Calculation of the carbon footprint in accordance with the GHG Protocol, verified by an external entity.
• Implementation of the emissions reduction plan, aligned with the targets validated by the SBTi.
• Continued deployment of the FemmesForce mentoring programme, promoting gender equality, skills development and women’s representation.
• Ongoing improvement of ESG data collection and processing to ensure accuracy and consistency.
• Rollout of an ESG risk‑management methodology, fully integrating sustainability considerations into the Group’s overall management.
• Maintenance of existing ISO certifications, supporting performance and continuous improvement of management systems.
• Progressive strengthening of procurement practices with the aim of obtaining RFAR certification in France.

Raising Awareness and Embedding an ESG Culture

Solutions30 continues to reinforce a corporate culture centred on sustainability, fully integrating ESG principles into governance, operations and internal practices. In 2025, several initiatives were consolidated:

• Strengthening the expertise and role of the Strategy & ESG Committee to ensure structured oversight of sustainability matters.
• Regular monitoring of ESG commitments and performance at every Executive Committee meeting.
• Deployment of new training modules on ESG, Cybersecurity, GDPR and Inclusion & Diversity through the e‑learning platform.
• Continuous employee awareness‑raising through internal communication initiatives and dedicated workshops.
• Systematic integration of ESG criteria into key decision‑making processes (M&A, tenders, procurement, operational management).
• Implementation and dissemination of policies, procedures and codes of conduct, reinforcing ethics, integrity and compliance.
• Internal communication of the Whistleblowing Policy and Platform, fostering a more transparent and responsible environment.

2025 Key Performance Indicators (KPIs)

Social	Environmental	Governance
• Reduce the work‑related accident severity rate to ≤ 0.65	• Increase the percentage of subcontractors registered on mySupplace. Achieve at least 95% of subcontractors registered on mySupplace.	• Maintain a high volume of training hours (≥ 25 hours per employee)
• Increase the proportion of women in managerial positions (≥ 25% women in management roles).	• Submission of near‑term GHG emissions reduction targets (Scopes 1, 2 and 3) to the SBTi.
	• 8.8% reduction in GHG emissions intensity compared with 2024 (tCO₂e per million euros of revenue).
	• Increase the share of Green Activities in Solutions30’s revenue by 19% compared with 2024.

NOTE: Section “3.1.5.2. ESG KPI Results for 2025” presents a detailed analysis of the results achieved for each of the ESG indicators defined for 2025.

Solutions 30 | Rapport annuel 2025 14

Contributing to a more sustainable world

COVERED EMPLOYEES 72% BY ISO 45001 AND BY VCA**	163 965 TRAINING HOURS
Solutions30 aims for excellence in the safety and health of its employees and has obtained ISO 45001:2018 certification (Occupational Health and Safety Management System). To support its growth and ensure the continuous integration of new skills, the Group has launched an extensive training program that enables the hiring of young people without diplomas or those undergoing career changes, thereby significantly improving professional inclusion.
39% OF NEW HIRES ARE UNDER 30 YEARS OLD
This strong growth dynamic allows Solutions30 to play an important role in job creation. The men and women who make up the Group are, through their daily work, the driving force behind its success.
67% OF THE GROUP’S REVENUE IS GENERATED BY CONNECTIVITY‑ RELATED OPERATIONS	197 375 COMPUTERS AND 49 558 PRINTERS REPAIRED
By making technological innovations that transform our daily lives more accessible to everyone at home and in the workplace, Solutions30 contributes to a more inclusive and sustainable economy.	The Group’s daily operations help significantly reduce the disposal of used equipment and position the company within a circular economy approach. Environmental issues are part of all group actions, whether in due diligence processes or operational activities.
	24% REDUCTION IN GHG EMISSIONS, SCOPES 1 & 2 (2025 VS 2023)

Solutions 30 | Rapport annuel 2025 15

CONTENTS

1 Group Presentation	17
1.1. A history of dynamic and profitable growth	17
1.2. The European leader in rapid-response multi-technology services	19
1.3. A proven growth strategy with four key pillars	28
1.4. Competitive position of the company	29
1.5. Structurally promising markets	31
2 Risk Factors and Internal Control System	39
2.1. Company-Specific Risk Factors	39
2.2. Insurance	47
2.3. internal Control System	47
2.4. Governance, Risk and Compliance	50
2.5. Transformation Takeaways	51
3 Sustainability Statement	55
3.1. General Information	58
3.2. Environment	74
3.3. Social	110
3.4. Governance	140
3.5. Our Commitments	152
3.6. Our Certifications and ESG Performance	156
3.7. ESRS Content Index	160
4 Corporate Governance	165
4.1. Governance Framework	165
4.2. Supervisory Board	169
4.3. Management Board	186
4.4. Remuneration	192
5 Comments on the Year	205
5.1. Review of the Group's financial position and earnings	205
5.2. Change of scope	210
5.3. Performance analysis for 2025	211
6 Consolidated Financial Statements	215
6.1. Consolidated Financial Statements	215
6.2. Notes to the Consolidated Financial Statements	221
6.3. Independent Authorized Auditor’s Report	259
7 Shareholder Structure and Additional Information	264
7.1. General Information Concerning the Company	264
7.2. Memorandums and Articles of Association	265
7.3. Share Capital	267
7.4. Shareholding	269
7.5. Stock Market Listing	270
7.6. Financial Communication	271
7.7. Person Responsible for the Document	271

Solutions 30 | Rapport annuel 2025 16

1 Group Presentation	17
1.1 A history of dynamic and profitable growth	19
1.2 The European leader in rapid- response multi-technology services	28
1.3 A proven growth strategy with four key pillars	29
1.4 Competitive position of the company	31
1.5 Structurally promising markets

Solutions30 | Annual Report 2025 17

1. GROUP PRESENTATION

Solutions30 is the European leader in rapid-response multi-technology services for telecommunications, energy, and all things digital. Solutions30 operates in structurally promising markets, where long-term growth is driven by two “megatrends”: the digital transformation and the energy transition. With its scalable business model and solid competitive advantages, the Group has experienced tremendous $^1$ growth since its creation in 2003. Despite consolidation starting in 2024, revenue has grown from €125.2 million in 2015 to €891.5 million in 2025, resulting in an average annual rate of growth of nearly 25% over this period.

1.1 A history of dynamic and profitable growth

Created in 2003, Solutions30’s revenue reached €891.5 million at the end of 2025.

2003-2007 : A national player primarily active in information technology and telecommunications

PC30, the company that eventually became the Solutions30 Group, was founded in France in 2003. Its goal was to provide services to internet service providers (ISPs) and other telecommunications players, such as installing modems, personal computers, and routers, as well as assistance with how to use them. To finance its growth, the company went public in 2005 on the Access compartment of Euronext Paris. Between 2005 and 2007, in a market that was undergoing restructuring, the company signed its first partnerships with major French internet service providers (Alice, Orange, 9 Telecom, Club-Internet, etc.), who wanted to outsource their user service activities. The company saw its revenue grow exponentially, and in 2007, just 4 years after its creation, it was generating €30.1 million in revenue.

2008-2014: Going international and developing services for new markets

While its competitors sought to move up the value chain by providing IT services, PC30 focused on its existing range of rapid-response multi-technology services and on expanding into new business sectors and geographic markets. In 2008, PC30 established its first international subsidiary in Italy. In 2009, PC30 ramped up its international expansion by establishing itself in the Benelux region and focusing on new business segments. The energy sector was the primary focus at a time when France was announcing a massive plan for installing next-generation electricity meters. In 2010, PC30, which had €54.7 million in revenue, became Solutions30, highlighting its ability to offer its customers integrated solutions. Solutions30 shares were transferred to Euronext Growth. The Group continued to develop, growing both organically and through acquisitions. It gradually positioned itself as the natural center of a highly fragmented market. The objective was to reach a critical size that would enable it to create a dense network of technicians, maximize economies of scale, and amplify the profitability of its model as quickly as possible.# 2015-2020: Accelerated growth, the birth of a rapid-response service champion

In 2015, Solutions30 entered a period of especially rapid growth, signing two major contracts in France: for the roll-out of smart electricity meters and of ultra-fast Internet (optical fiber). The Group grew at an average rate of more than 46% per year, with revenue rising from €125.2 million in 2015 to €819.3 million in 2020. This dynamic and profitable growth has allowed Solutions30 to accelerate its expansion abroad. During this time, the Group made some strategic acquisitions in France, Germany, and the Benelux region, and won a bid to take over the outsourced service business of Belgian cable service provider Telenet, a contract worth €70 million annually that enabled Solutions30 to reach a critical size in the Benelux region. At the same time, Solutions30 consolidated its growth drivers in Italy and Spain. In 2019, the Group expanded to Poland by acquiring two companies with a combined revenue of €21 million. At the end of 2020, the Group expanded to the United Kingdom, acquiring Comvergent, a company that had developed a range of multi-technical services for installing and maintaining mobile networks, with €17.5 million in revenue. In July 2020, the company’s shares were transferred to Compartment A of Euronext Paris. During the COVID-19 pandemic, Solutions30 was able to quickly adapt its call-out processes to deal with the crisis, ensuring the safety of its employees and its business continuity. The Group has seen solid performance and double-digit growth in its core businesses, driven by the rise of remote work and greater needs for internet connections.

Solutions30 | Annual Report 2025 18

2021-2025: Rebalancing the geographic mix and developing energy-related activities

After a peak in French telecoms sector activity during the pandemic lockdowns, the Group’s business underwent a geographic and segment rebalancing in the second half of 2021. While growth had historically been driven by fiber activities in France, the Benelux region and Germany began to see dynamic market growth. The French model was successfully reproduced in high-potential European markets, with the Benelux region growing by more than 70% in 2023. This strong growth made it the Group’s leading geographic area in terms of revenue and margins. In 2024, Solutions30 entered a phase of accelerated growth in Germany, a market whose size and attractiveness made it a powerful long-term growth driver for the Group. At the same time, Solutions30 limited its exposure in some of its most mature businesses, notably in the French and Spanish telecommunications sectors. Solutions30 is expanding its energy-related businesses, especially solar power, an area where the Group has gradually established itself as a leading player. In France, for example, it helped build Europe’s largest floating solar power station in Perthes, Haute-Marne and was part of the Gravières de l’Arroux project in Bourgogne-Franche-Comté. Between 2023 and 2025, the Group made several acquisitions in this sector, expanding its offerings and asserting its presence. In France, it acquired Elec-ENR in 2023 and became the majority shareholder of So-Tec between 2024 and 2025. The Group also diversified into services for low- and medium-voltage electrical grids, notably working with Fluvius in Belgium. The strong growth of energy-related businesses is expected to continue in the years to come. In 2025, the acquisition of a majority stake in the Elektra Realizacje company strengthened the Group’s presence in the Polish energy sector. This rebalancing of the Group’s activities, both geographically and by segment, has coincided with a phase of revenue consolidation, as emerging international and energy-related growth drivers have not yet fully offset declining revenue from mature businesses. Over the longer term, the Group is well positioned to benefit from favorable market dynamics driven by the accelerating digital transformation and energy transition.

Revenue trends since 2007

Over the last 20 years, Solutions30 has become a European leader in rapid-response multi-technology services. In 2025, 66% of revenue was generated outside of France. The Group’s total headcount at the end of December 2025 was 5,627, compared with 6,057 at the end of December 2024.

Solutions30 | Annual Report 2025 19

1.2 The European leader in rapid-response multi-technology services

Solutions30 helps its customers, including major international groups, to outsource non-strategic activities that are difficult to carry out in a streamlined and cost-effective manner: the roll-out, installation, and maintenance of digital equipment, as well as end-user assistance. Solutions30 offers a complete range of rapid-response multi-technology services, built around three kinds of solutions:

• Connectivity solutions (solutions for connectivity and telecoms networks)
• Energy solutions (solutions for the energy sector: solar power, smart meters, grids, and electric vehicle charging stations)
• Technology solutions (dedicated solutions for digital technologies, IT, security, payments, and connected health)

The Group’s more than 16,000 expert technicians work directly with users (individuals or companies) on behalf of the large corporations they represent. This makes them the key to creating a positive user experience and to managing the customer relationship. Since its inception, Solutions30 has proven itself to be a trustworthy partner, one whose growth is based on its ability to provide high quality services, faster and more efficiently than if its clients provided them internally. The Group operates in France, Benelux, Germany, Poland, Italy, and the Iberian Peninsula. In 2025, the Group successfully exited the UK market, in line with its strategy to focus on other markets.

A network of technicians present across nine countries

Country	Year Entered
Netherlands	2009
Poland	2019
Germany	2013
Belgium	2016
Luxembourg	2013
France	2003
Italy	2008
Portugal	2018
Spain	2015

20x : year the Group entered the market

Solutions30 | Annual Report 2025 20

1.2.1 An efficient business model as the foundation of the Group’s success

Solutions30’s business is based on pooling skills and technical resources, and on being able to quickly perform a call-out everywhere the Group operates. This self-reinforcing operational model is built around three fundamental drivers of efficiency:

VOLUME

High and recurring call-out volumes. High volumes enable standardized and streamlined call-outs, driving synergies and economies of scale while strengthening a collective knowledge base. Combining these elements increases call-outs’ economic and technical efficiency and guarantees their quality.

DENSITY

A dense network of technicians. Rapid-response service and geographical coverage are the keys to guaranteeing very short response times. Also, especially when combined with large volumes, denser geographical coverage makes more operations profitable, since distances between two call-outs will be shorter.

AUTOMATION

Powerful IT tools to automate scheduling and optimization tasks simultaneously and in real time.

This proven business model, combined with robust operational processes, has demonstrated its effectiveness and ability to adapt to new sectors and geographic markets.

1.2.2 A standardized service platform deployed across six complementary business sectors

The Group has ensured high call-out volumes by entering into several partnerships with leading industrial and service companies (e.g. Orange, Fluvius, and HP), beginning with the telecommunications and IT sectors. To maximize economies of scale, Solutions30 has extended its model and service platform to related business sectors: energy and digital TV since 2009, security and retail since 2011, and the Internet of Things since 2018. Technicians are now able to perform call-outs for several different industries. Solutions30 focuses its sales approach and value proposition on three market segments: Connectivity Solutions (solutions for connectivity), Energy Solutions (solutions for the energy sector), and Technology Solutions (solutions for digital technologies, including all other group activities including IT, security, payments, or connected health).

Breakdown of Revenue by Business Segment

Solutions30 | Annual Report 2025 21

CONNECTIVITY SOLUTIONS

Solutions30 started in the telecommunications sector, assisting individuals and helping them connect to the Internet just as ADSL technology was being rolled out. As networks have continued to evolve, the fact that Solutions30 is able to intervene quickly and across a wide geographic area has allowed it to expand its activities to include service providers, which it now helps with the roll-out of broadband and ultra-fast internet networks. While its core expertise remains in services related to the “digital last mile,” in particular, setting up the Internet within the home, Solutions30 has a structure in place to intervene upstream, right from the initial deployment phase. This position allows the Group to capture and secure strong competitive positions for winning recurring connection and maintenance contracts.

FIXED NETWORKS
Fiber, copper and coaxial networks	Underground, ducts, facade, poles
FTTH, FTTB, FTTA, FTTC	POP, DP, ILA
Carrier switching & routing	Legal clearance

CUSTOMER CONNECTIONS
SDU OHL/UG/PIA connections	MDU vertical cabling
Customer Enablement	Residential and business WAN/LAN (see Technology Solutions)

5G
Connections from RAN to BT

WIRELESS NETWORKS
Antenna	Radio network
Point-to-point	Base station
Small cells	Edge computing

Today, a large part of this business now involves the installation and maintenance of FTTH, cable, and DSL connections for end users in single-family homes, apartment buildings, and offices. The Group’s technicians also provide support for the use of these technologies.Depending on the needs of its key accounts and the market, Solutions30 may be asked to undertake more advanced call-outs on network infrastructure. In such cases, the Group does its best to outsource these services to infrastructure specialists. The telecoms business has enjoyed strong growth, driven by the roll-out of ultra-fast FTTH (fiber-optic) networks. Solutions30 has helped make France’s Ultra-Fast Broadband Plan a success, rapidly installing the fiber-optic network across the country. As this market reached maturity following peak activity during the pandemic, which accelerated FTTH deployments and new subscriber connections, this expertise gave the Group significant advantages as it expanded into other European markets such as Belgium and Germany. Solutions30 has shown its ability to meet demanding roll-out deadlines, to quickly mobilize effective field teams, and to honor demanding quality commitments. Since 2020, Solutions30 has expanded into mobile networks, leveraging strong relationships with leading telecom service providers as well as its in-house expertise. After the roll-out of 5G and the development of its industrial applications, the Group is increasingly focused on maintenance activities. At the end of 2025, the telecommunications segment accounted for approximately 68% of group revenue.

Solutions30 | Annual Report 2025 22

ENERGY SOLUTIONS 1 SMART BUILDINGS SMART CITIES

• Smart meters (electricity, gas, water)
• Smart street lighting
• Connected objects and smart thermostats
• Heat pumps

GREEN ENERGY

• Solar power (residential, corporate, industrial)
• Electric vehicle charging (AC, DC, HPC) for individuals, businesses, and the general public
• Battery-based energy storage

INFRASTRUCTURE & NETWORKS

• Engineering low- and medium-voltage electrical grids
• Network improvement and modernization
• Aerial and subterranean networks
• Solar farms (land-based and floating)

Solutions30 generates 21% of its consolidated revenue in the European energy sector. This revenue initially came from the installation and maintenance of smart meters. In France, the Group installed around 25% of all Linky electricity meters on behalf of Enedis as its leading partner. More recently in Belgium, the Group installed around 40% of all smart electricity meters on behalf of the Flemish service provider Fluvius. In recent years, this business has been increasingly driven by services related to the energy transition: renewable energy and sustainable mobility. Throughout Europe, the installation and maintenance of solar panels, electric vehicle charging stations, and to a lesser extent, home automation devices (smart thermostats and door locks, LEDs, etc.), are also significant growth drivers for the Group. These activities are supported by the shared understanding that we need to adopt eco-responsible behaviors to increase energy efficiency and reduce our carbon footprint. In particular, the solar panel installation market is a major growth driver, and will remain so for years to come. The Group has gradually come to be seen as a leading player in this field, especially in France, where the market is extremely dynamic, partly due to the adoption of the “ENR” law in 2023. In the still developing market for electric vehicle charging stations, the Group is providing its services to a broad range of market stakeholders: energy companies, car manufacturers, rental companies, charging station manufacturers, and oil companies. Finally, since 2024, Solutions30 has been active in the modernization of low- and medium-voltage electrical grids, made necessary by the increasing number of electric vehicles, heat pumps, and solar panels. In Belgium, the Group is assisting Fluvius with its planned modernization of the energy grid in Flanders. In France, it has become one of Enedis’ key partners in a similar program.

Solutions30 | Annual Report 2025 23

TECHNOLOGY SOLUTIONS 1

IT

• Desktops and laptops
• Servers
• Tablets
• Mobile phones
• Audio-visual & video- conferencing
• Printers and copiers

NETWORKS

• Routing and switching
• WiFi
• SDWAN, SDLAN
• Local networks
• Security devices
• IP telephony
• Smart homes and businesses

TECHNICAL FACILITIES

• IoT devices, including security devices
• General services
• Office lighting
• Meeting room management
• Electrical and network cabling

PAYMENT SOLUTIONS

• Sales outlets
• POS payment terminals
• Retail services

The Group’s solutions for the segment that covers IT, retail payments, security, and connected objects in general accounted for 12% of consolidated group revenue. As one of the Group’s historic businesses, IT services target:
* IT sector OEMs, with a range of on-site call-out services for supporting installations or curative and preventative maintenance on the equipment they manufacture (computers, printers, servers, etc.).
* Large companies from any industry, who use its service desk offering (end-user support and workspace engineering), which includes the implementation of an optimal workstation architecture, change management (migration, roll-out, training), and maintenance (Help Desk support, remote access, rapid-response support, service management, etc.). By extension, Solutions30 also offers Facility Management services.
* Individuals and small businesses, who can access installation, maintenance, and training services for all the products and services that make up their digital infrastructure (desktop and laptop computers, printers and other peripheral devices, software, smartphones, WiFi terminals, Internet box and triple-play installation, Internet services, media center, etc.).

With the rise of remote work, Solutions30’s ability to provide IT support services in both offices and in private homes has given it a unique advantage in this sector. With its Money30 brand, Solutions30 targets major corporations and retailers, offering them installation and maintenance services for payment terminals or any other equipment used for handling payments and sales, installation and maintenance for digital point-of-sale equipment (screens, tablets, terminals, infrared scanners, etc.). The activity’s growth is driven by the modernization of point-of-sale systems and retailers’ ongoing need to streamline the customer experience. In the security space, Solutions30 works on behalf of alarm and video surveillance system suppliers, installing and maintaining connected equipment (alarms, sensors, cameras, and access control boxes). Finally, in the railway sector, Solutions30 was awarded a contract with the Belgian national railway infrastructure operator in November 2025, to modernize the signaling system for a line in Flanders. Solutions30 is constantly searching for new avenues for diversification in sectors that could use its services. This is why Solutions30 continuously explores new opportunities and assesses the development potential of emerging activities driven by the widespread adoption of digital technologies across all sectors of the economy.

Solutions30 | Annual Report 2025 24

1.2.3 Revenue split between new installations and maintenance

Solutions30 is involved both in the roll-out and installation of new digital equipment and in its maintenance. Every year, approximately 8-15% of the customer installed base requires maintenance call-outs. Besides call-outs for hardware and software issues (under the Technology Solutions business), there are also call-outs initiated when someone changes operators, when a subscriber moves, when new buildings are constructed (Connectivity Solutions), or to maintain facilities and the network (Energy Solutions).

1.2.4 A large portfolio of loyal key account customers

Across its current geographical coverage, Solutions30 has won the loyalty of a large customer base that includes major European telecoms service providers, gas and electricity suppliers, and the main players in the world of digital technology. The Group’s relationships with its most important customers are divided into different contracts, business segments, and geographical regions, thus reducing its commercial dependence. When all contracts are taken together, Solutions30’s largest customer accounted for 19% of its consolidated revenue in 2025.

Customer portfolio concentration: 2025

	2025	2024	2023
Largest customer	19%	16%	24%
Top 5	48%	48%	63%
Top 10	64%	65%	77%

1 The Solutions30 teams are fully integrated into the client’s processes, with the customer and service provider sharing connected IT systems, dividing certain tasks, pooling their resources, sharing information, and carrying out additional sales. This operations model, combined with solid performance indicators and the signing of multi-year contracts (3 to 5 years), which are often eligible for tacit renewal, has enabled Solutions30 to build long-term relationships with its customers. This can be seen in how low its attrition rate has remained since its creation. Historically focused on France, the Group now conducts 15% of its business in in its Other Countries segment. By working with its main customers, Solutions30 was able to enter new geographical markets where it is duplicating the business model that made it so successful in France.

Geographic distribution of activity: IFRS
In millions of euros

Exercice clos Year ended December 31, 2025	As a %	Exercice clos Year ended December 31, 2024	As a %
Total Revenue	€892.4 M	100%	€943.0 M
from Benelux	€352.6 M	40%	€371.6 M
from France	€305.3 M	34%	€360.8 M
from Germany	€95.9 M	11%	€84.4 M
from Other Countries (*)	€138.7 M	16%	€126.2 M

(*) Spain, Italy, Portugal, Poland

1.2.5 A flexible and reactive organizational structure that uses a unique proprietary tool to continuously optimize structural efficiency in real time

The Group believes that physical proximity is fundamental to serving its markets and customers efficiently, enabling it to better understand and anticipate customer needs. Also, as explained above, the density of the technician network is an essential driver of productivity and performance.Today, Solutions30 has a team of more than 16,000 technicians who carry out 80,000 call-outs every day. The Group’s strength lies in its ability to integrate these new employees and to plan, coordinate, and optimize their call-out schedules. To manage these logistics, but also to make the process easily reproducible and with the goal of constantly enriching its knowledge base, the Group has developed a unique IT platform, the backbone of its organization. This platform ensures that the right skills are available in the right place at the right time, and maximizes the rate of call-outs that are successful on the first visit.

Solutions30 | Annual Report 2025 25

1.2.6 Smartfix, the backbone of group efficiency

Smartfix is Solutions30’s operational management tool, which can be connected to its customers’ IT systems. This central platform automates any task that can be automated, especially the receipt of call-out requests (tickets) generated by the customer, call-out scheduling, technician route optimization, logistics issues that are specific to each call-out (ordering and shipping hardware, providing tools) and billing for the services that are provided. Solutions30’s field teams are connected to this tool, which also facilitates remote support for technicians and hosts a knowledge base that is updated in real time to anticipate any problems and to make call-outs more efficient. By automating many repetitive tasks, Smartfix reduces human resource requirements, especially for all operations management and back-office functions. The Group focuses most of its investments on this tool, which is strategically important, given how essential it is for the company to operate smoothly. To ensure the best possible operating conditions, 24/7 availability and perfect control, this platform is managed and updated by a team of around 100 people, including 35 in-house employees. This team works to both maintain and further develop this platform, constantly adding new features and systems. Some of these features serve to continuously increase task automation, including first-level support. Others focus on enriching the end-user experience and are made available to the customer as white-label products. For example, the team developed a module that drew direct inspiration from collaborative platforms to track when technicians arrive and evaluate customer satisfaction rates. The Group has also developed an augmented reality solution that allows on-site teams to access optimal support on call-outs or when something unexpected happens. The goal is to improve call-out effectiveness and first-time success rates. Solutions30 is constantly striving to improve its tools, keeping an eye on market needs and working with start-ups if need be. This was the case, for example, when an operational process optimization solution was implemented that used a visual automation platform to analyze images taken by technicians using artificial intelligence algorithms. The goal is to help the technicians in their work and to indicate any anomalies to them in real time.

Solutions30 | Annual Report 2025 26

1.2.7 Mobile application for monitoring technician availability (itinerary, exchanges, customer reviews, etc.)

This proprietary software platform is designed to be highly scalable and to interface quickly and easily with all types of customer systems. Solutions30 regularly invests in technological innovations for its IT platform, with the goal of supporting the continuous optimization of its technicians’ activity and improving the Group’s profitability. The development teams are based both in regions where the Group provides services, as well as in more remote locations, based on the availability of developers who have the required technological skill sets. While Solutions30 has a commercial presence in most European countries, it has always turned to remote teams to handle any support tasks that can be done remotely. Thus, while technicians and key managers are naturally present in all European countries where the Group operates, support activities are based in regions where costs are lower.

Solutions30 | Annual Report 2025 27

1.2.8 Optimized cost structure

BACK-OFFICE	Planning/Optimization | Remote support
FRONT-OFFICE	Physical call-outs
OUTSOURCING	Software development
Internal	Logistics
External	India Philippines
	Design department

Solutions30’s IT system is based on a fully redundant and secure cloud architecture, which is regularly tested and subject to specific measures to guarantee business continuity in the event of a problem (disaster recovery plan, backup and redundancy). It operates in compliance with current cybersecurity standards and norms. Solutions30’s IT system is based on a fully redundant and secure cloud architecture, which is regularly tested and subject to specific measures to guarantee business continuity in the event of a problem (disaster recovery plan, backup and redundancy). It operates in compliance with current cybersecurity standards and norms. The internal organization and procedures comply with the General Data Protection Regulations (“GDPR”) that came into force on May 25, 2018, and are subject to regular audits from the Group’s customers. This structure makes Solutions30 more competitive. The Group has created a solid organizational base that can be used as a starting point for the development of new activities or new geographic markets. Smartfix is the heart of what makes this system successful, acting not only as a driver of operational efficiency that makes it easy to duplicate the Solutions30 model and that supports its growth, but also as a tool for increasing customer loyalty, guaranteeing a constantly expanding range of services.

Solutions30 | Annual Report 2025 28

1.3 A proven growth strategy with four key pillars

The density of Solutions30’s network of technicians is the key to its success, making the Group more competitive and protecting its position as the market leader. Solutions30 therefore focuses on high-volume markets, working to maximize volume effects while also minding its capacity for honoring its commitments. The Group has built its dynamic growth on four key pillars:

1.3.1 Sector diversification

In order to increase its volumes, the Group has pursued a strategy of sector diversification, capitalizing on its field teams’ strengths and on its multi-technology skill base. By expanding into new complementary growth markets, it has been able to diversify its risks, while also taking advantage of solid growth opportunities. The Group focuses on high-volume markets:
* That require rapid-response technological call-outs, and therefore, a dense network of technicians
* Whose growth is driven by underlying trends and in which the Group’s ability to handle rapid ramp-ups can set it apart

For example, the Group began generating revenue from energy activities in 2015, making this area an essential part of its diversification. Today, it has become a major player in the European energy transition (solar power/ renewable energy, smart meters, modernization of energy networks, charging stations for electric vehicles) and continues to successfully deploy its business model in this promising market, which now represents around €184 million or 21% of the Group’s consolidated revenue.

1.3.2 Geographic diversification

To confirm its position as a first entrant and to consolidate barriers to entry for competing companies, Solutions30 has earned the loyalty of its customers by offering them support across several European countries. In general, the Group will expand into a new country in partnership with a customer, after analyzing the market’s potential and the assessing the Group’s ability to deploy its model there. Solutions30 has often targeted countries that border regions where it is already active, which have proven growth potential, and whose accessibility and population density make it possible to expect profitability levels that are in line with Group standards. This is how Solutions30 expanded into Italy, the Iberian Peninsula, the Benelux region, Germany, and Poland. Now that it has such a strong European base, the Group plans on improving its coverage within each of these regions.

1.3.3 Targeted acquisitions

Densifying the territorial network and geographic diversification sometimes require targeted acquisitions to achieve optimal density more quickly. Generally speaking, Solutions30 operates in markets that are still highly fragmented, and where customers want to reduce the number of partners they work with. Thanks to its size, Solutions30 is the natural center for any such market, giving it plenty of opportunities and a strong initial negotiating position. The success of the Group’s acquisitions policy is based on its in-depth knowledge of new markets and proven procedures. Solutions30 has a long list of potential targets and is regularly presented with new opportunities. Most of the transactions are carried out directly, without intermediaries, and are financed by bank debt, or more rarely from equity, depending on the type of transaction. The Group’s acquisitions are also often supported by its customers, and in such cases, Solutions30 pursues negotiations to acquire the target and to improve the conditions of its agreements with customers at the same time, especially in terms of assigned volumes. Over the years, successive acquisitions have strengthened the Group’s presence in its core segments, allowing it to successfully capitalize on its historic markets and solidify its business model. In May 2025, Solutions30 announced that it had increased its stake in SO-TEC, a French company that specializes in designing and building infrastructure for photovoltaic power plants.Following the initial acquisition of a 10% stake announced in May 2024, Solutions30 now holds 60% of SO-TEC’s share capital and intends to increase its ownership to 100% in the coming years, in accordance with existing agreements with the company’s original shareholders. Based near Montpellier, SO-TEC has nearly 100 employees and generates over €20 million in annual revenue. With this investment, Solutions30 has strengthened its foothold in the French energy services market, which is driven by highly favorable underlying trends, particularly in the renewable energy sector. In September 2025, Solutions30 announced its acquisition of a majority stake in Elektra Realizacje in Poland. This company specializes in modernizing low- and medium-voltage electrical grids, a key activity as Poland ramps up its energy transition. This investment is an important step in implementing Solutions30’s strategy in Poland, where it aims to diversify into energy services after successful growth in telecommunications in recent years. It also paves the way for greater synergy between the two business segments.

1.3.4 Unique operational structure

While Solutions30’s business is not very capital-intensive, it does depend on the men and women in the field. Revenue growth has therefore been paralleled by a similar rise in the number of employees. Today, Solutions30 is an international group with a multicultural management team. The Group Management Board, for instance, comprises five members from four different nationalities. Their complementary management skills will bring new energy and a focus on customer service to the Group. Beyond the central role of Smartfix, which, as explained above, connects all the field teams, the Group’s structure is based on identical operational structures for all business sectors and countries. This creates synergies and Solutions30 | Annual Report 2025 29 economies of scale by promoting the adoption of best practices within the Group. Many tasks have been automated to reduce the costs of various centralized functions and maintain a flexible and responsive structure capable of adapting quickly. Above all, this automation enables a greater focus on field teams, whose work ultimately ensures customer satisfaction.

Both salaried technicians and subcontractors—who make up 30-50% of the field teams depending on the country and provide the flexibility the Group needs to operate smoothly—undergo a demanding and clearly defined selection, recruitment, and training process. Solutions30 has strict operational procedures that were reinforced starting in 2021 by the Governance, Risk and Compliance project (see Section 2.4), integrated training centers, and specific monitoring tools. The Group works hard to transfer its expertise, know-how, and skills, helping to maintain a high rate of customer satisfaction and guaranteeing that the services it offers are standardized and consistent.

To enhance the sourcing and integration of subcontractors, Solutions30 has developed an online sourcing and staffing platform called mySupplace. This platform is a dedicated Europe-wide compliance tool for the Group (settings & customization for 100% of the countries where the Group operates). Nearly 100% of partners are registered on mySupplace, which is used to oversee partner compliance checks (at the company and technician level, with document collection and review). This platform has helped to recruit 1,000 technicians in France, while the database now has 6,000 subcontractor companies approved at the European level, including 4,000 in France, for an average potential of 50,000 to 60,000 technicians. This is a major competitive advantage in booming markets where qualified personnel are in high demand. Since 2025, this platform has served as a gateway to the entire Solutions30 ecosystem. The QHSE component is currently being deployed.

Solutions30 will continue to capitalize on the many growth opportunities available across Europe, while prioritizing the recovery of its operating margins. To this end, the Group is pursuing (i) a selective approach and process optimization in countries where it has already reached a critical size, and (ii) rapid growth in other countries, with 1 the goal of reaching a size that will maximize potential margins. Solutions30 will continue to rely on a model where operations are given priority for financial resource allocation, with the constant goal of maximizing efficiency.

Solutions30 rolls out and maintains new technologies, often working in markets that are new to its customers. So, when entering a new market, sometimes even before winning a contract, the first step is to prepare the organization and discuss with the customer the processes that will be implemented. The second step is to find, recruit, and train the technicians who will carry out the field work, and to train and sometimes recruit the management teams. During this phase, Solutions30 bears the costs related to this recruitment without yet receiving the corresponding revenue in full. Profitability therefore mechanically takes a hit, and the cash flow generated by more mature activities is allocated to paying expenses. This is followed by a third phase, when contracts begin to ramp up, teams start to increase output, and profitability gradually improves. The Group entered this phase in Germany in 2024. However, this has an impact on working capital, since immediate expenses will need to be covered by customer payments that are only made after 60 or 90 days. This phase becomes easier to manage after reaching critical size, defined as €100 million in revenue. Phase 4 is when the contract reaches its cruising altitude. During this phase, profitability and cash generation reach normative levels. Then, when the deployment phase comes to an end, as is the case for the installation of fiber optics in France, Solutions30 begins an operational transition. This transition may lead to a recurring maintenance phase or towards new activities such as the roll-out of 5G or EV charging stations.

☑ 2,500 active subcontractors and 6,000 supplier companies listed in the database → a potential of nearly 60,000 technicians
☑ More than 7,500 applications received for external resources, representing more than 20,000 technicians
☑ More than 1,000 technicians staffed in 18 months → all businesses (Telecoms, Energy, IT, Field)
Solutions30 | Annual Report 2025 30

1.4 Competitive position of the company

As explained above, Solutions30 operates in a highly fragmented market, where one of the main growth factors is major technology groups’ desire to outsource their rapid-response service activities. The Group’s main competitors are therefore its customers’ internal departments. This is particularly true of telecoms service providers, major energy companies, and IT hardware manufacturers. However, these internal departments are not designed to attract new customers or to expand into new business sectors. Such services, which lie on the periphery of most groups’ core businesses, are difficult to make profitable, which has driven an underlying trend towards outsourcing.

As the first entrant into the rapid-response multi- technology services market, Solutions30 is one of only a few players in the sector that can undertake service visits to private homes and that is active across a wide range of business sectors and geographic regions. With strong integration between Group and customer operational processes, barriers to entry are high, especially given Solutions30’s 20 years of expertise.

In Europe, the other players present in Solutions30’s markets are therefore highly variable. They include:
1
* Subsidiaries or internal departments of major technology groups, energy suppliers, or equipment manufacturers
* Multi-technology groups involved in infrastructure projects, thus upstream of Solutions30, including SPIE, Equans, Vinci, and Eiffage
* Multi-technology service providers that specialize in each business sector, including Circet, Constructel, Homeserve, Eltel, and Sogetrel
* A few national-level companies that work in a limited number of business sectors, including Proxiserve or Renew IT
* A large number of small- and medium-sized local and regional companies, whose strategy is based on niche expertise or on their proximity to their customers
Solutions30 | Annual Report 2025 31

1.5 Structurally promising markets

As the European leader in rapid-response multi- technology services, Solutions30 operates in dynamic markets whose structure allows the Group to capitalize on its assets to solidify its position. As explained above, the Group is involved in both installation and maintenance activities, depending on the life cycle of its markets. Once they have been rolled out, new technologies need to be maintained, hence the Group’s recurring maintenance business. Our capacity for rolling out new technologies is the key to securing contracts for maintaining facilities and keeping them in proper working order.

In terms of installation activities, the maturity of the targeted markets differs from one country to another. Indeed, while the technologies in question are broadly the same across Europe, investment decisions are made at the national level, whether by public authorities or private 1 actors. This is an advantage for the Group, which can leverage its experience in more advanced regions to test and solidify its services locally, before duplicating them elsewhere more effectively. The Group’s goal is to offer the same services and to expand its network of technicians across all markets, in all the countries where it is established. Given this ambition, the Group is organized by country and around four geographic segments: France, Benelux, Germany, and Other Countries. Local managers are responsible for expanding the Group’s operations to include all relevant markets (Connectivity, Energy, and Technology).In millions of euros Exercice clos Year ended December 31, 2025 Exercice clos Year ended December 31, 2024

	2025	2024
Connectivity	268.7	282.2
Energy	60.8	64.8
Technology	23.1	24.5
Total revenue from the Benelux	352.6	371.6
% of Total Revenue	39.5%	39.4%
Connectivity	136.6	208.8
Energy	103.7	78.4
Technology	65.0	73.6
Total revenue from France	305.3	360.8
% of Total Revenue	34.2%	38.3%
Connectivity	90.9	80.0
Energy	4.9	4.4
Total Revenue from Germany	95.9	84.4
% of Total Revenue	10.7%	9.0%
Connectivity	113.4	108.8
Energy	10.6	5.4
Technology	14.7	12.0
Total revenue from Other Countries	138.7	126.2
% of Total Revenue	15.5%	13.4%
Total Revenue	892.4	943.0

Solutions30 | Annual Report 2025 32

1.5.1. Main business sectors

This section will introduce the markets in which the Group operates, as well as the geographical regions it targets, with a focus on the activities with the greatest potential for growth:

• Connectivity: Building on its successful roll-out of ultra-fast Internet in France, the Group has the solid experience and substantial competitive advantages it needs to significantly increase its market share in European countries where this technology’s penetration rate remains limited. This strategy is now proving its worth in Germany, where the Group has entered a period of dynamic growth.
• Energy: The transition to renewable energy and the growth of electric mobility create important revenue opportunities for Solutions30, which has developed services dedicated to installing and maintaining electric vehicle charging stations, especially for individuals and small businesses, as well as solutions for installing solar panels as a B2C or B2B2C service. Electrical grid services and smart meter roll-outs are also among the Group’s key expertise areas.
• Technology: Solutions30 provides direct IT support services to customers and works on behalf of major IT manufacturers to support their customers. Already somewhat mature, this market still has growth potential, and in a context where working remotely is on the rise, the density of the Solutions30 network of technicians is an important asset.

Solutions30 also has other avenues for growth in areas like payment solutions, smart houses, smart cities, logistics, transportation, and industry 4.0.

Connectivity Solutions

Solutions30’s original core market, the telecommunications sector, remains the primary driver of the Group’s revenue. Already the cornerstone of the digital revolution, networks are increasingly called upon to serve new purposes. The widespread use of Internet video streaming, the proliferation of content, the rise of remote work, the growth of online shopping, and the digital transformation at large that is affecting all areas of the economy have caused network data transmission volumes to skyrocket. These underlying trends are forcing service providers to constantly adapt their infrastructures to offer the most comprehensive network coverage and ever faster connections. This is the context that surrounds the roll-out of fiber-optic cables (FTTH) in Europe. While fiber-optic connections are being promoted at both the European and national levels, households have only adopted them gradually. In the twenty-seven member states of the European Union and the United Kingdom, approximately 40% of households have a fiber connection, which presents a significant opportunity for Solutions30. There are also very large disparities between the various countries in which Solutions30 operates. Spain has the highest rate of coverage. In Germany, on the other hand, the connection rate remains quite low. In order to strengthen its position as the leading player in the sector and to expand its territorial coverage, the Group made several strategic acquisitions since 2018:

In 2018, the Group signed an outsourcing partnership with the Belgian company Telenet that led to the creation of Unit-T, a joint venture owned 70% by Solutions30 and 30% by Telenet. Unit-T draws on a network of 1,500 technicians and is responsible for a services contract signed with Telenet. This subsidiary has since diversified into the energy sector by deploying Fluvius smart meters and participating in the low- and medium-voltage electrical network modernization that Fluvius has undertaken. The telecommunications sector remains a growth driver for the Group across Europe, where more projects are springing up to bridge the digital gap in several major countries, including Germany, Belgium, and Poland.

Ultimately, in the European ultra-fast internet market, there are several trends that stand out:

• Public incentives have been stepped up following the pandemic to support the roll-out of FTTH technology throughout Europe. Recovery plans worth €14 billion have already been put into place for the telecommunications sector (FTTH and 5G). Countries only have a limited time to invest these European subsidies, which has made a fast roll-out even more important.
• In countries where traditional service providers have been slow to roll out their FTTH networks, alternative providers have stepped in, launching the transition to FTTH networks.
• In some countries, such as France and Spain, the market for FTTH network deployment has reached maturity.
• Nevertheless, the regions where the Group operates are teeming with new opportunities. For example, the dismantling of the copper network could represent a major growth driver in France. Solutions30’s experience and strong competitive position in France will be invaluable assets in seizing these opportunities.

Building off of its strong fixed network position, the Group is also active in mobile networks, particularly in the deployment of fifth-generation (5G) networks. Solutions30 is already active in this field, leveraging its telecommunications industry expertise to offer competitive commercial services. Today, it works on behalf of telecoms equipment manufacturers, preparing existing installations and helping to upgrade them. Experts expect that many small additional antennas (microcells) will be rolled out and that edge computing will develop to support 5G technology. 5G networks will need to handle large data volumes. To reduce latency, computer systems will be installed in base stations, close to antennas. Solutions30 believes that it is ideally positioned to participate in the roll-out and maintenance of these systems. Due to its territorial coverage, it has a significant competitive advantage over traditional IT companies, which do not have field teams and are often based in densely populated areas.

Energy Solutions

While the Group still generates a significant portion of its revenue from “Energy Solutions,” i.e. installing smart electricity and gas meters primarily in Belgium, most of its revenue and especially its growth comes from energy transition activities. These mainly include solar power and the installation of solar panels, as well as the upgrades to electrical grids that these require. The boom in electric mobility and the need for electric vehicle charging stations are also presenting opportunities for growth. The Energy Solutions segment directly benefits from the substantial investments made across Europe to support the energy transition.

Renewable energy: solar panels, wind turbines, and smart grids

The energy transition and the rise of renewable energy sources are also opportunities for Solutions30, which has drawn on the expertise of its French subsidiary Sotranasa to provide solar panel installation services to businesses and to private individuals. Over the last few years, the Group has secured its competitive position and risen to become one of the three leading players in this market in France. By leveraging synergies from its skills and expertise in electrical grids, telecom networks, and residential call-outs, Solutions30 can take on solar panel projects of all kinds and sizes. The Group intends to continue its strong growth in France—one of the European countries with the greatest potential—while further solidifying its services in the other countries where it operates. Growth in this market should continue over the coming years, as it is an important factor in securing energy sovereignty.

With the goal of making the European Union more energy independent, the “RePowerEU” plan raised renewable energy integration targets from 40% to 45% by 2030. This ambitious goal will rely heavily on a new solar power strategy. For example, the European Commission has proposed to drastically shorten authorization procedures for renewable energy permits. It has also budgeted €300 billion for between now and 2030 and made solar panels mandatory for public buildings and shopping malls starting in 2025. This requirement will also be applied to new housing units built after 2029. Governments therefore need to implement incentive measures. In France, for example, outdoor parking lots over 1,500 m2 in size will have sun shades installed with built-in solar panels. That is just the beginning, as there is more than 1,100 GW of untapped solar potential across the country. According to Ademe (the French Environmental and Energy Efficiency Agency), unexploited rooftop solar potential alone represents 364 GW, i.e. three times more than all the currently active power plants can produce (nuclear, coal, gas, and renewables combined). Cerema estimates that there are a further 775 GW of unexploited potential in open areas and over parking lots. For reference, French installed solar capacity will reach 19.0 GW by the end of 2023. Solutions30 believes that it has the necessary strengths to eventually thrive in these markets in all the countries where it operates. With the acquisition of Elec-ENR, a company that specializes in electric hookups for wind farms in 2023, Solutions30 has expanded its capacity to work in the field of renewable energy.

Solutions30 | Annual Report 2025 33To enhance its service offerings in France, Solutions30 also acquired, between May 2024 and May 2025, a 60% majority stake in So-Tec. This company specializes in building photovoltaic power plants. Solutions30 plans to increase this stake to 100% within four years, in line with current agreements with the company’s existing shareholders.

Solutions30 | Annual Report 2025 34

As energy sources become more numerous and energy needs continue to increase—whether for recharging electric vehicles or running heat pumps—electrical grids are being forced to adapt. The irregularity of renewable energy sources’ contributions to electrical grids is a serious barrier to their development. The European Commission has estimated that the electrical grid will require €584 billion in investments between 2020 and 2030, with a special focus on the distribution network. Out of this total amount, €400 billion will be invested in the distribution network, including €170 billion earmarked for digitization. The Solutions30 business model is highly relevant in this area as well. Through its subsidiary Unit-T, the Group has been supporting Fluvius with its energy network modernization program in Flanders (Belgium) since 2023, under an initial five-year contract. Over these first five years, Solutions30 teams will transform more than 1,000 kilometers of the power grid and connect multiple homes to a new energy network developed with local towns and communities. By 2032, 40% of these low-voltage networks and a third of medium-voltage cabinets in Flanders will have been reinforced and modernized. In France, Solutions30 has been one of Enedis’ key partners for several years, contributing to the modernization of the national electricity distribution network. The investment budget for this modernization nearly doubled between 2019 and 2025. In Poland, Solutions30 acquired a majority stake in Elektra Realizacje in September 2025. This company specializes in upgrading low- and medium-voltage electrical grids. The company offers a comprehensive range of services, including transformer station replacement, switchgear dismantling and replacement, and electrical equipment maintenance.

In such a context, smart grids offer considerable advantages. When integrated into production sites, network infrastructure, and in consumers’ homes, smart grids combine digital and electric technologies to optimize the entire network. Using smart grids also optimizes electricity use, from its production through to its consumption. Smart grids collect data about energy production and consumption using smart meters, allowing for continuous network monitoring and operational optimization. The major players in smart grids are large energy companies, telecommunications companies, as well as electrotechnical and IT companies, all of whom are Solutions30 customers, giving us a role to play in this market segment.

Rolling out smart meters

The third “energy package” of European legislation requires EU member states to oversee the roll-out of smart meters in their respective countries. This roll-out may be subject to the condition of a positive long-term economic cost-benefit analysis. According to the European Commission, the member states’ commitment is equivalent to an investment of around €45 billion for installing nearly 200 million smart electricity meters (covering approximately 72% of European consumers) and 45 million gas meters (nearly 40% of consumers). Despite these directives, the actual roll-out of smart 1 meters across the European Union depends on criteria specific to each member state. These criteria include regulatory provisions, current standards, and recommended features to ensure technical and commercial interoperability and to guarantee data protection and security. Thus, each member state has begun to roll out smart electricity meters, but with widely varying time frames and targets.

In France, 95% of electricity meters are operated by Enedis, which counts Solutions30 as its primary partner for smart electric meter installation. As a result, Solutions30 was a major player in the roll-out of smart electricity meters in mainland France, up until this roll-out drew to a close in 2022. By the end of 2022, the meters in nearly all French households had been replaced. The structure put into place to organize these roll-outs, installation quality, and the trust-based relationship with Enedis are important assets for upcoming projects related to the energy transition, giving the Group a competitive edge.

In Germany, Solutions30 signed a contract in 2019 with Germany’s leading electricity and gas supplier to install new smart meters. This first bid was for 2.3 million meters, out of the 51 million total meters in Germany. Solutions30 won about 20% of this contract and will begin the roll-out in Brandenburg and Bavaria in January 2020. Due to bureaucratic and economic reasons, large-scale roll-outs of smart meters have not yet begun in Germany. In early 2023, the country passed a new law to speed up the roll- out of smart meters nationally, while also announcing that only households consuming more than 6,000 kWh per year would be required to install a smart meter. It is therefore only a small minority of German households that will be required to install smart meters, as the average annual electricity consumption for a German household is 3,500 kWh. The Group will continue to monitor changes in the German market, since while this new law is quite narrow, electricity providers may decide to launch their own smart meters roll-out plans.

In Belgium, the Flemish service provider Fluvius launched its smart meter roll-out in March 2021. Unit-T, a subsidiary of Solutions30, took charge of the roll-out of 40% of the 4.3 million meters that Fluvius has planned for an initial phase, contributing to strong revenue growth in the region. This initial phase is now nearly complete.

Electric vehicle charging stations

As part of the energy transition, the adoption of electric mobility is expected to accelerate in the coming years. The rules adopted by the European Council in 2023 set the following targets:
* 55% reduction of CO2 emissions for new cars and a 50% reduction for new light trucks compared to 2021 by between 2030 and 2034

Solutions30 | Annual Report 2025 35

• 100% reduction of CO2 emissions for new cars and new light trucks after 2035

While there are now more electric vehicles available than ever before, the lack of charging stations is hindering their wider adoption. It is likely that the pressure countries are putting on manufacturers will impact electricity distribution network operators, who will need to rapidly deploy charging station equipment across Europe. Solutions30 has the expertise and certifications needed to operate in this market, with several commercial successes around Europe in 2025. The Group has positioned itself to provide installation and maintenance services for electric vehicle charging stations. The Group believes that its model enables it to be particularly competitive in the market for installing charging stations in homes and workplaces, since installing public charging stations requires more intensive work. Today, Solutions30 has many active customers and has become a recognized leader in this still highly fragmented market.

In 2025, the Group expanded its strategic partnership with Spirii, a leading provider of platform solutions for electric vehicle charging. Launched in Italy, this partnership combines Solutions30’s operational expertise installing and maintaining charging stations with Spirii’s advanced technology, including its platform ecosystem for managing charging services for fleets, charging station operators, and mobility companies. Building on their initial success, both partners have expanded their cooperation across Europe, tailoring their approach to local markets, notably in France. In France, the Group is the preferred partner of Mobilize Power Solutions, which is in charge of deploying charging stations for Renault Group customers, and of EDF for the deployment of its “electric mobility plan” across Europe. Solutions30 also operates in Poland, where the Group installed 23 charging stations in 2025 for Ekoenergetyka, a European manufacturer that has already electrified more than 40 cities in Europe. The Group intends to pursue its commitment to innovation in this field and meet the growing needs of the market.

Technology Solutions

Solutions30 offers two types of services dedicated to IT support:
- Call-out services to install, configure, and deploy integrated IT solutions, with continuing support and maintenance services
- Deployment, maintenance (uptime assurance), and computer assistance on site or at a workshop for all types of devices, IT and network hardware, multimedia equipment
- Workstation management (IMAC - Install, Move, Add, Change).
- Service desks available at customer sites, providing rapid-response service:
* Local multi-device support: handling requests and incidents related to the working environment
* Preventive and curative maintenance for computer and multimedia equipment
* Personalized VIP/Staff services: telephone and physical assistance (even at home) 24 hours a day, 7 1 days a week.

This more mature market is also undergoing significant changes. As IT hardware has become more affordable, it has become a replacement market, where logistics skills are key, rather than a repair and support market, where technical skills are what makes the difference. Solutions30 relies on a dense territorial network of itinerant technicians and high-performance management tools that enable it to guarantee short response times and competitive rates.The Group primarily targets companies with many sites in a given region (banking networks, mass retailers, etc.) or those with strong needs in terms of customer proximity and in-home interventions (distributors of high-tech and multimedia products), working with hardware manufacturers to provide their maintenance services. To accomplish these goals, Solutions30 relies on the economies of scale created by its organizational structure, including:

• Logistics centers that facilitate the provision of various services, from receiving/sending equipment, to checking, repairing, configuring, or setting up equipment. These centers also house customers’ off-site inventory, helping to guarantee rapid response times.
• Call centers, in countries where the Group is present but also in the Maghreb and Eastern Europe that handle appointment scheduling, first-level technical support, and remote troubleshooting.
• Proprietary IT tools that automate and track many tasks, enriching the user experience.

Cloud computing, new types of equipment and mobility are changing users’ needs. Soon, with the rise of 5G, connected objects and edge computing—including new applications and new required peripheral devices—will generate new needs and new opportunities for Solutions30’s Technology Solutions business. New peripheral devices will not only need to be installed, but they will also require rapid-response maintenance, no matter where they are located. Luckily, Solutions30’s core business has already cultivated the skills needed to capture these new growth opportunities.

The rise of the Internet of Things has created significant growth potential for Solutions30 since any connected object requires physical installation and maintenance. Industry 4.0, smart cities, smart buildings, smart homes, self-driving vehicles and connected health are all concepts that are taking shape as the related technologies become more affordable and more widely available. These technological advances help businesses to increase productivity and they offer individuals major benefits in terms of savings, health, and security. The Internet of Things covers a wide array of applications, since almost everything is connected these days. Solutions 30 is already active in this market with several Solutions30 | Annual Report 2025 36 major corporations as customers, including a telecoms service provider that is rolling out a “connected home” offering, the world leader in online sales, a manufacturer of connected medical devices, and a manufacturer of home automation solutions. This sector represents a significant growth opportunity for the Group.

1.5.2 Geographic coverage

The Solutions30 Group is present in nine countries:

• France
• Belgium, the Netherlands, and Luxembourg (Benelux)
• Germany
• Spain and Portugal (Iberian Peninsula)
• Italy
• Poland

In 2025, in light of recent developments in the British market, the Group withdrew from the United Kingdom. The underlying economic factors in these markets are similar, with strong trends towards outsourcing rapid-response services and the presence of structural growth drivers, such as the digital transformation and the energy transition. The Group believes that it now has a significant positioning in all the countries where it operates, even though it has not yet reached its critical target size outside France and the Benelux region.

Over the last two years, the revenue breakdown by country was as follows:

	Exercice clos Year ended December 31, 2025	Exercice clos Year ended December 31, 2024
In millions of euros
Benelux	352.6	371.6
France	305.3	360.8
Germany	95.9	84.4
Iberian Peninsula	15.7	12.9
Italy	61.1	54.9
Poland	61.9	58.4
Total Other Countries	138.7	126.2
Total Revenue	892.4	943.0

France

Between 2015 and 2021, France was the main driver of Group growth, thanks to (i) the Plan Très Haut Débit (Ultra-Fast Broadband Plan), which supported the rapid roll-out of fiber connections in both European and overseas France, with a significant peak in activity in 2020 and 2021 as huge numbers of people began to work from home during the pandemic, and to (ii) the roll-out of connected smart electricity meters. Both markets have now reached maturity. Where before they were focused on roll-out, these markets are now shifting focus to maintenance, which is naturally a more recurring service. The fiber connection market thus saw a significant slowdown due to its maturity in 2024 and 2025, so the Group reduced its exposure to certain contracts whose profitability conditions had deteriorated. This resulted in significantly reduced revenue in the Connectivity business. At the same time, activities related to the energy transition, in particular solar power, saw significant growth starting in 2023 and have progressively established themselves as a solid growth driver in the French market. In 2025, they accounted for 45% of Solutions30’s revenue in France. In 2025, the total installed photovoltaic production capacity rose to more than 160 MWh.

Benelux

In Belgium, Solutions30 has been one of the main players in the market for rapid-response telecommunications services since it signed an outsourcing agreement with Telenet in the form of a vested partnership and the creation of Unit-T in 2018. Unit-T is a joint venture in which Solutions30 holds 70% of the shares and Telenet 30%. It has significant growth potential, not only working with Telenet but also with other customers, as evidenced by the contracts signed with Fluvius in 2020 for the deployment of its smart meters, and in 2024 for the modernization of the low- and medium-voltage electric grid in Flanders. Belgium has committed to ambitious plans for FTTH deployment. Solutions30, with its solid experience elsewhere in Europe and its dense territorial coverage, has signed framework agreements with leading players such as Fiberklaar and Unifiber, and has already become an important part of these markets. This can be seen in the high growth rates posted in the Benelux in 2023, over 70% over the full year, driven mostly by Belgium. This growth slowed temporarily in 2024, as Belgian telecom service providers adopted a wait-and-see approach to negotiations to streamline deployment operations across the country. To a lesser extent, the electoral context also contributed to this slowdown. By the end of 2025, Solutions30 | Annual Report 2025 37 operators had successfully concluded these negotiations and activity levels began to return to normal. In the Netherlands, a second wave of FTTH network deployment is underway, and Solutions30 is actively participating in deployment and connection projects on behalf of Open Dutch Fiber and KPN.

Germany

In Germany, Solutions30 is currently benefiting from strong market momentum in both the telecommunications and energy sectors. In recent years, however, the Group has been focusing on the telecoms market, particularly fiber optics, where it rapidly established itself as a leading partner for German telecom service providers, after signing major contracts in 2023. Compared with other European countries, Germany is behind in terms of telecommunications infrastructure. In this context, all the major telecom service providers have launched FTTH deployment investment programs. After a challenging start-up phase, the market entered a period of strong growth in 2024, which continued into 2025 despite a less consistent pacing of deployment operations in the second half of the year, and operators prioritizing the connection phase. With 41.5 million households, Germany is an extremely promising and strategic market for Solutions30. With its offer of end-to-end services and strong commercial relationships with the six main German operators, Solutions30 is well positioned in this promising market, which it sees as a powerful short-term growth driver.

The German energy services market also has considerable opportunities to offer. Germany is the biggest solar power market in Europe, with total production capacity set to rise from 83 GW in 2023 to almost 186 GW in 2028. The country is also planning a smart meter roll- out program, to be completed by 2032, and is investing massively in power grid modernization (€110 billion of investments are required by 2033). Finally, the development of electric vehicle charging infrastructure, for both light and heavy vehicles, is a priority. While Solutions30 currently generates only minor revenue in the energy sector in Germany, the Group has set ambitious goals, especially for solar power, signing its first B2B partnerships in 2025.

Other Countries

In Italy, Solutions30 is a key partner of TIM (Telecom Italia), on whose behalf the Group is deploying a fiber network in Piedmont and the Aosta Valley. After a brief pause in 2023 due to the challenges within TIM, Solutions30 operations returned to normal in 2024 under improved economic conditions. In 2025, the Group showed strong growth in its fiber activities. In May 2025, Solutions30 announced the renewal of its contract with FiberCop, a leader in the development of fiber-optic networks in Italy. The contract is valued at more than €125 million over three years. The agreement includes the continued deployment of the FTTH network in the Piedmont and Aosta Valley regions. It will cover approximately 300,000 property units, enhancing connectivity across Italy and reducing the digital divide. At the same time, Solutions30 is pursuing growth in electric mobility in Italy, notably by signing a partnership with Spirii (a subsidiary of Edenred) in June 2025 to install and maintain charging stations throughout the country. In line with Group strategy, Solutions30 has been working to improve its profitability in Italy since 2024, with positive results.

In Poland, the Group established itself in 2019 and has gradually increased its market share both organically and through external growth, becoming the preferred partner of the national telecom service provider, Orange.The market in Poland has very attractive fundamentals in terms of size, population density, and market conditions, as the country makes significant investments in its digital infrastructure. In recent years, the Group has deployed the same key elements that have driven its success in other countries. It has gradually established itself as a major player, increasing its market share in Connectivity Solutions and expanding its customer base. The Group is now replicating this success in its Energy Solutions business: it has strengthened its presence in the fast-growing Polish electric vehicle charging infrastructure market, signing two contracts with key national players: Ekoenergetyka and Enefit Polska. In 2025, it also entered the low- and medium-voltage electrical network services market by acquiring a majority stake in Elektra Realizacje.

In Spain, Solutions30 expanded its presence in 2018 and subsequently increased its market share by strengthening its collaboration not only with telecom service providers but also with equipment manufacturers, including Ericsson and Nokia. Because fiber has reached maturity in this market, however, the Group recently implemented a plan to refocus on its Energy and Technology businesses. In 2025, the Group began the process of selling off nearly all the Connectivity business’s operational assets. This strategic refocusing aims to maximize profits and to make the most of promising growth opportunities. In this context, in September 2025, Solutions30 began the roll-out of Fastned’s electric vehicle charging stations, installing two initial sites on the C-32 highway, each offering eight 400 kW charging stations.

Active in the United Kingdom since 2020, with the roll-out of services for mobile and later fixed telecommunications networks, followed by electric mobility, the Group completed its full exit from the UK market in 2025. The decision to withdraw was made in light of recent developments in the UK fiber market and aligns with the Group’s strategy to optimize its portfolio.

Solutions30 | Annual Report 2025 38
2 Risk Factors and Internal Control System 39
2.1 Company-Specific Risk Factors 47
2.2 Insurance 47
2.3 Internal Control System 50
2.4 Governance, Risk and Compliance 51
2.5 Transformation Takeaways

Solutions30 | Annual Report 2025 39

2. RISK FACTORS AND INTERNAL CONTROL SYSTEM

2.1 Company-Specific Risk Factors

2.1.1 Governance

In 2025, the Group reinforced its risk management framework by enhancing stakeholder engagement. It continued leveraging its dedicated risk management tool and introduced a comprehensive compliance program, Naltilia, to ensure full conformity with Sapin II requirements. All identified risks are incorporated into the 2026 audit plan, which is fully aligned with the COSO Framework. Risk mapping across the Group is informed by contributions from country CEOs, business unit directors, and internal audit findings. To support effective monitoring and mitigation, the Group leverages Zenya—a specialized platform that enables systematic tracking and resolution of risks.

1.2 Risk Management Framework

Risk management at Solutions30 is structured around the widely recognized three lines of defense model:
* Operational Level (First Line of Defense): Risks are identified and managed directly within business operations. Internal controls are implemented at this level to mitigate risks effectively.
* Support Functions (Second Line of Defense): Central support teams oversee and coordinate risk management activities across all entities, addressing cross-functional risks that impact processes throughout the Group.
* Internal Audit (Third Line of Defense): Independent auditors review the most critical processes and entities, providing assurance and recommendations to strengthen risk management. They report directly to the Group Head of Risk & Compliance, who in turn reports to the Audit, Risk & Compliance Committee and the Management Board.

Solutions30 | Annual Report 2025 40

1.3 Risk Assessment Methodology

The Group adopts an integrated approach to risk management, analyzing all potential risks and their interdependencies. Once identified, each risk is assessed based on:

Likelihood of occurrence, categorized as:

Likelihood	Frequency
Exceptional	Once every 15 years
Unlikely	Once every 10 years
Likely	Once every 3 years
Very likely	Once every 12 months
Almost certain	Once every 6 months

The impact is assessed as follows:

Impact Category	I = 1 (Very low)	I = 2 (Low)	I = 3 (Medium)	I = 4 (High)	I = 5 (Critical)
Financial (€)	Insignificant cost, easily absorbed into the budget.	Small budget overruns, low financial pressure, < €100k.	Significant impact on financial targets, €100 - 500k.	Large budget overruns, €500k - €5 M.	Serious financial loss, threat to the company > €5 M.
Customer- Investor Relations / Reputation	Minimal concerns raised by a limited number of customers.	A few complaints or concerns.	Significant level of dissatisfaction among a customer segment.	Negative publicity or negative market sentiment.	High level of dissatisfaction (strategic level), potential loss of key customers. Critical dissatisfaction (strategic level), high potential for significant impact on revenues, reputation, and share price.
Legal / Compliance	Minimal non- conformity problems, limited impact and easy to rectify.	Minor non- conformity.	Minor fines, minor breaches of regulations, which may require resources to resolve.	Moderate non- compliance with moderate penalties. Serious non- compliance leading to major legal consequences and/or fines.	Moderate operational impact. Critical breaches of regulations, reporting requirements, and stock exchange listing rules. Serious legal repercussions with substantial fines and downtime. System failures or management problems that can impact investor confidence.
Health & Safety	May cause minor health problems.	Minor non-chronic health effects, such as temporary discomfort.	Moderate injuries or health problems requiring medical treatment but with no long-term consequences.	Significant, potentially chronic health problems or injuries requiring prolonged medical treatment or recovery time.	Serious incidents resulting in permanent disability, major disruption, or death.
Operations	Minimal disruption to an operational process (10’ max downtime).	Minor disruption to operational processes (more than 10’ downtime).	Moderate disruption to operational processes (more than 3 hours downtime).	Significant disruption to operational processes (more than 12 hours downtime).	Major disruption to operational processes (more than 3 days downtime).
Projects	Minor project delay or slight change in scope.	Short-term delays. Manageable human and budgetary variances.	Project milestones were not met, and a major adjustment of resources is required.	Delays in major project phases. Budget overrun.	Critical project failures: possibility of project abandonment or major redesign.
Human resources	Minor human resources concerns.	Minor legal disputes.	Moderate human resources challenges.	Significant legal disputes or compliance problems.	Critical human resources crisis or major organizational conflict.
Supply chain	Minor delays or quality deviations.	Shipping delays or problems with the material/ service ordered. No impact on the budget.	Moderate disturbances, some production stoppages. Limited budget impact. Problems linked to the multiplicity of suppliers and regions.	Long delays. Significant impact on the budget.	Major failures. Significant impact on businesses. Very significant budget impact.
IT security	Very minor data breaches, minimal IT disruptions with no operational impact, or minor problems in software development.	Minor data breaches, minor disruptions to IT systems, including software development problems.	Significant data breaches, moderate disruption to IT systems or limited operational impact, with notable vulnerabilities in software development.	Significant data breaches, moderate disruption to IT systems or limited operational impact, with notable vulnerabilities in software development.	Major security breaches leading to potential legal repercussions, substantial data loss or complete shutdown of IT systems, often linked to serious vulnerabilities in software development.

The likelihood and impact of each risk are multiplied together to give the following classification:

	I = 1	I = 2	I = 3	I = 4	I = 5
P = 5	5	10	15	20	25
P = 4	4	8	12	16	20
P = 3	3	6	9	12	15
P = 2	2	4	6	8	10
P = 1	1	2	3	4	5
Probability / Impact
Risk Scale	Very Low	Low	Medium	High	Very High

Solutions30 | Annual Report 2025 41

1.4 Risk Treatment Approach

The Group applies tailored measures to address identified risks, which may include acceptance, avoidance, transfer, or mitigation. When mitigation is required, actions are determined following a cost-benefit analysis to ensure efficiency and effectiveness. Risks are prioritized based on their criticality:
* High-risk areas (red and orange zones): Require immediate attention and remediation.
* Moderate risks (yellow zone): Managed as a secondary priority.
* Low-risk areas (green and gray zones): Subject to ongoing monitoring to ensure they remain within acceptable thresholds.

This structured approach ensures resources are focused where they deliver the greatest impact on risk reduction. Most risks managed in 2024 remained present in 2025. However, in many instances, their probability declined as a result of the mitigation measures implemented, and the impact was reduced for certain risks. Several risks were eliminated from the risk map, reflecting the effectiveness and robustness of the controls in place. Concurrently, new risks emerged, directly or indirectly associated with the ongoing restructuring initiatives.

Solutions30 | Annual Report 2025 42

1.5 Risk categories

Most risks managed in 2024 remained present in 2025. However, in many instances, their probability declined as a result of the mitigation measures implemented, and the impact was reduced for certain risks.Several risks were eliminated from the risk map, reflecting the effectiveness and robustness of the controls in place. Concurrently, new risks emerged, directly or indirectly associated with the ongoing restructuring initiatives.

2 At Group level, the identified and managed risks can be categorized as follows:

SUBCONTRACTOR MANAGEMENT

Risk Mitigation

In 2025, Solutions30 Group partnered with approximately 7,500 subcontractors, operating either on behalf of the Group or independently. This model provides the flexibility required to adapt workforce capacity to evolving operational needs and market dynamics. While this approach is a key enabler of agility, it also introduces specific risks that the Group proactively manages:

• Reputation of subcontractors, which can reflect on the Group’s image;
• Oversight and coordination of subcontractor activities, ensuring quality and reliability;
• Skills and qualifications of subcontractor personnel, critical for service excellence;
• Compliance with labor and immigration regulations, safeguarding legal integrity;
• Adherence to the Group’s internal policies, reinforcing ethical and operational standards.

Unmanaged, these risks could impact the Group’s reputation, its ability to honor commitments, and its compliance obligations. All the risks linked to the subcontractors’ management are in the ‘Very-high’ risk area of the Group risk map.

To address these challenges, Solutions30 has implemented a robust third-party verification process designed to ensure the integrity and reliability of its subcontractor network. Every subcontractor wishing to work with the Group undergoes a comprehensive due diligence review, including:

• Identity verification, assessment of ultimate beneficial owners, and financial solidity checks;
• Evaluation of reputation and business connections, ensuring alignment with Group standards;

This verification complies with the Group Third Party Due Diligence (TPDD) policy which is conducted by a dedicated compliance team using advanced tools. Once the first verification is finalized and does not reveal any red flag, subcontractors are required to upload all necessary legal and regulatory documentation to mySupplace, the Group’s secure platform for third-party management. Only after successful completion of the preliminary TPDD review and submission of all required documents can a commercial relationship be initiated. This database is continuously updated and monitored by local Compliance Officers, ensuring ongoing adherence to regulatory and internal requirements. These measures reflect the Group’s commitment to transparency, compliance, and operational excellence across its entire value chain.

Solutions30 | Annual Report 2025 43

INFORMATION SECURITY

Risk Mitigation

Group activities and technicians’ call-outs are organized and optimized within the Group’s proprietary IT platform. This tool centralizes and assigns call-out requests while optimizing technician travel times, skills, and expertise. Moreover, Group is using multiple other IT systems to manage and optimize other organizational areas, such as finance, customer relations, or HR.

A computer attack or technical failure could have an impact on the Group’s operations - especially its ability to optimize technician call-outs - and on its customers: damage to their reputation, disclosure of confidential information, disclosure of operational information, total or partial non-accessibility of data and non-compliance with legislation or customer requirements. All the risks linked to the Information Security management are in the ‘Very-high’ risk area of the Group risk map.

The Group established Information Security Management System (ISMS) in accordance with ISO 27001 standard. Compliance with standard was confirmed by independent auditing firm for wide scope of activities related to providing services to customers. The ISMS is supervised by Chief Information Security Officer function and continuously maintained to ensure ongoing compliance and further improvements. Information Security general practices were disclosed in Information Security Commitment document published on Solutions 30 website. A set of policies, procedures, and instructions related to different aspects of Information Security are published, communicated to relevant stakeholders, and enforced. Specific controls are driven by output from Information Security Risk Assessment performed at least once per year. Those controls include, but are not limited to:

• User access management
• Secure software development practices
• Endpoint and network protection
• Supplier due diligence and monitoring
• Database backup processes and restoration testing
• Incident management processes
• Employee information security awareness
• Threat intelligence

Group maintains active cyber insurance.

2 FINANCE

Risk Mitigation Measures

The Group faces several financial risks that could impact its performance and resilience.

• Customer financial difficulties: Some clients may experience liquidity issues or insolvency, leading to delayed payments or defaults. This can affect the Group’s revenue streams and cash flow stability.
• Cash management challenges: Managing working capital efficiently is critical, especially in periods of Activities reorganization. Risks include delays in receivables collection, pressure on liquidity, and increased financing costs. These situations can result in reduced profitability, higher credit exposure, and potential constraints on the Group’s ability to fund operations and growth initiatives.

All the risks linked to Finance are in the ‘Very-high’ risk area of the Group risk map.

To address these risks, the Group has implemented a comprehensive financial risk management framework, including:

• Rigorous Credit Assessment Continuous monitoring of customers’ financial health and creditworthiness to anticipate potential payment issues.
• Diversification of Client Portfolio Reducing dependency on any single client or sector to limit exposure to financial distress.
• Active Cash Flow Management Daily tracking of cash positions, strict control of payment terms, optimization of working capital and use of working capital financing solutions.
• Forward‑looking analysis and market scenarios Discontinuation of non-profitable activities.

These measures reflect the Group’s commitment to financial stability, resilience, and proactive risk management, safeguarding its ability to meet obligations and support long-term growth.

Solutions30 | Annual Report 2025 44

REGULATORY COMPLIANCE

Risk Mitigation Measures

The Group operates in a complex and evolving regulatory environment, which includes requirements under NIS2 (Cybersecurity), Sapin II (Anti-corruption), CSRD (Corporate Sustainability Reporting Directive), AI act and GDPR (Data protection). Non-compliance with these regulations could result in:

• Financial penalties and legal sanctions;
• Reputational damage;
• Operational disruptions due to corrective measures;
• Loss of client trust and business opportunities.

Given the increasing scope and complexity of these regulations, all the risks linked to Regulation are in the ‘Very-high’ risk area of the Group risk map.

To address these challenges, the Group has implemented a comprehensive compliance framework, including:

• The GRC project, aimed at strengthening the Group’s governance, has resulted in policies, charters, and a series of structuring documents for the Group. It has resulted in robust internal controls covering anti-corruption, cybersecurity, artificial intelligence, sustainability reporting, and data protection.
• Dedicated Compliance Teams ensuring Third Party Due Diligence verification prior to any activity and continuous verification of compliance of third parties.
• Mandatory training on GRC for all the employees of the Group. Regular awareness sessions for employees and management to reinforce compliance and regulatory knowledge.
• Use of dedicated tools for regulatory compliance, TPDD verification and risk management.
• Deployment of a Compliance program aimed at reducing compliance risks internally and across their value chain.
• Periodic reviews by external auditors to validate compliance and identify areas for improvement.
• Management of reports via the whistleblowing platform;
• Immediate sanctions applied when non-compliance involves a governance element
• Implementation of NIS2 directive.
• Communication and training on Group IA policy.

These measures reflect the Group’s commitment to integrity, transparency, and regulatory excellence, ensuring compliance across all jurisdictions where it operates.

2 GROUP ACTIVITIES

Risk Mitigation measures

The Group operates across market segments with varying levels of maturity. Managing ramping-up, growth in expanding segments and reorganizing declining segments can create risks such as:

• Loss of quality ;
• Customer dissatisfaction ;
• Margin erosion ;
• Recruitment challenges ;
• Changes in volume ;
• Key staff leaving the Group and
• M&A integration.

All the risks linked to the Group activities are in the ‘High’ risk area of the Group risk map.

To address these challenges, the Group has implemented the following measures.

• Making sure its activity portfolio remains diversified in terms of geography, business type, and client profile.
• Fostering synergies between activities, enabling the transfer of skills and personnel across segments. This approach aims to make transition phases - whether growth or contraction - as short and efficient as possible.
• Use of subcontracting (representing approximately half of the Group’s workforce) is also a key lever, providing the flexibility needed to manage transitional phases effectively.
• Discontinuation of non-profitable activities.

Solutions30 | Annual Report 2025 45

REPUTATION

Risk Mitigation Measures

A smear campaign, adverse media coverage, or the publication of inappropriate messages could damage the Group’s image and reputation.This risk linked to Reputation is in the ‘High’ risk area of the Group risk map. To reduce the likelihood of such campaigns, the Group has implemented several measures:
* Strengthening governance to ensure transparency and accountability;
* Employee awareness programs to promote responsible communication;
* Crisis management plan to respond swiftly and effectively to reputational threats;
* Regular communication policy to maintain clarity and consistency in messaging;
* Media monitoring system to detect and address potential issues early;
* Participation in targeted external events to reinforce the Group’s positive image.

These actions reflect the Group’s commitment to protecting its reputation and maintaining stakeholder trust.

2 GEOPOLITICS

Risk Mitigation Measures

The Group operates in geographical regions that are close to conflict zones. This exposes the Group activities to heightened geopolitical and security risks, which may result in:
* Operational Disruption: Temporary or prolonged suspension of activities due to instability.
* Supply Chain Disruptions: Increased difficulty in sourcing materials and equipment due to regional instability and logistical constraints.
* Financial Impact: Increased insurance premiums, security costs, and potential loss of revenue.
* Labor Market Pressure: Reduced availability of skilled workers and potential migration flows affecting recruitment.
* Reputational Risk: Negative perception from stakeholders if operations are linked to conflict areas.
* Regulatory and Security Risks: Heightened compliance requirements and potential restrictions on cross-border activities.

These factors could lead to delays in project execution, increased operating costs, and reduced profitability in the region. This risk linked to Geopolitics is in the ‘High’ risk area of the Group risk map. To minimize these risks, the Group has implemented a proactive strategy:
* Diversification of Suppliers: Expanding sourcing channels beyond the affected region to ensure continuity of supply.
* Flexible Workforce Management: Leveraging subcontracting and mobility programs to address labor shortages and maintain service quality.
* Cost Control and Hedging: Monitoring energy and transportation costs closely and using financial instruments where appropriate to mitigate volatility.
* Enhanced Compliance and Security Protocols: Strengthening local governance and risk monitoring to ensure adherence to evolving regulations and safeguard operations.
* Scenario Planning and Contingency Measures: Regular assessment of geopolitical developments and readiness plans to adapt quickly to changing conditions.

These actions reflect the Group’s commitment to resilience and operational continuity, even in a challenging geopolitical environment.

Solutions30 | Annual Report 2025 46

ESG Risk Mitigation

ESG criteria are a cornerstone of the Group’s strategy and embedded in all its projects. The presence of an ESG Strategy Committee within the Supervisory Board clearly reflects this commitment. Our ESG initiatives are both numerous and ambitious:
* Rigorous monitoring of key performance indicators, including CO₂ emissions, accident severity rates, and subcontractor compliance.
* Submission of our CO₂ reduction targets to the Science Based Targets initiative (SBTi), currently awaiting validation.
* Publication of our sustainability statement for the second consecutive financial year, in full compliance with the Corporate Sustainability Reporting Directive (CSRD).
* Systematic inclusion of ESG responses in all tender submissions.
* Continuous maintenance and improvement of our ESG ratings by leading agencies.

Each of these actions entails risks that the Group actively manages daily. These risks linked to ESG are in the ‘Medium’ risk area of the Group risk map. To address ESG-related risks and ensure the achievement of our strategic objectives, the Group has implemented a series of concrete measures:
* Definition of an absolute CO₂ emissions reduction target, as part of our commitment to the Science Based Targets initiative (SBTi);
* E-learning programs available on the S30 Academy platform, accessible to all Group employees;
* Monthly monitoring of key ESG indicators, ensuring continuous progress tracking;
* Direct link between ESG performance and managers’ variable remuneration, fostering alignment with sustainability goals;
* Ongoing collaboration between local teams and the central ESG team, ensuring consistency and best practices across the Group;
* Weekly follow-up of ESG activities with Management board.

For further details, see Sustainability declaration in Chapter 3 of this report.

2 1.6 Risk review
Our risk register is dynamic: risks are continuously monitored and updated whenever a new event s that could impact the Group’s activities occurs. Once a year, risks are formally reviewed with the Management Board. As of today, the Group does not identify any additional governmental, economic, budgetary, monetary, or political risk factors that could have a significant direct or indirect impact on its activities.

Solutions30 | Annual Report 2025 47

2.2 Insurance

Solutions30 has set up a centrally managed international insurance program covering, among other, general and professional liability and cyber security. Moreover, each of the operating subsidiaries of Solutions30 maintains various local insurance policies that are mandatory at the local level and at the same time must adhere to insurance program, that is negotiated and put into place at the Group level, unless there are stricter local regulations or specific geographic exceptions required. The Group’s liability insurance policies were renewed on January 1, 2026, for a period of one year, based on market conditions. The Group has policies with several leading and internationally recognized insurers. In light of the expanding activities and markets in other countries, in Q1 2023 Solutions30 initiated a Group-wide audit of its insurance program, with an assistance of a top-tier insurance broker. The mentioned audit aimed to ensure adequate and consistent coverage in every country Solutions30 operates and to optimize and minimize related costs. The outcome of the audit revealed that the Group’s insurance program was in line with industry practice and sufficient to cover normal risks associated with its operations. To continue this trend, the Group insurance program is subject to periodic review to ensure that it meets the 2 evolving needs of our business, while also adhering to best practices in corporate governance, risk management, and compliance with market and regulatory standards. Group’s insurance policies, governance mechanisms, and continuous monitoring processes contribute to ensuring adequate protection of assets and operations, while supporting the long-term resilience and sustainable development of the Group.

2.3. Internal Control System

2.3.1 Definition of internal control

Internal control is an integral part of the Group’s processes. As part of the ongoing transformation described in section 2.4 of this Report, the internal control process has been reviewed and documented. It aims to ensure:
* Compliance with laws and regulations
* Application of Management Board directives and guidelines
* Proper functioning of internal group processes, especially those to safeguard
* Group assets and the proper provision of services
* Reliability of financial information

The goal of the internal control mechanism is to prevent and control risks that could compromise the Group’s ability to reach its goals.

2.3.2 Internal control organizational structure

The primary bodies that oversee internal control activities within Solutions30 are as follows:

Audit, Risk and Compliance Committee

The main goal of the Audit, Risk and Compliance Committee is to assist the Supervisory Board in its oversight of the Management Board by supervising, advising, and informing decisions regarding the Group’s compliance with applicable laws and regulations and its review of internal control and risk management systems, among other topics. In line with the Audit, Risk and Compliance Committee Charter, the Audit, Risk and Compliance Committee’s group wide internal control and risk management responsibilities are as follows:
A. Discuss and evaluate group risk management policies, internal control procedures, and professional ethics procedures (including procedures for preparing and processing accounting and financial data), as well as review the compliance and effectiveness of the mechanisms put into place to implement these procedures and policies.
B. Report to the Supervisory Board any major financial risks that the Group is exposed to, advise on matters related to financial information and the Management Board’s initiatives to monitor and manage these risks and issues.
C. Review and evaluate reports related to potential shortcomings, or any other similar matters that may arise and be relevant to the Group, as the case may be.

The Audit, Risk and Compliance Committee frequently invites key Group functions to its meetings, including the Secretary General who oversees Group finance, the Head of Consolidation, the Head of Risk, Compliance and ESG and the Head of Legal. The active involvement of these individuals is indispensable in the context of internal controls related topics and verification of compliance with the processes implemented within the Group.

Solutions30 | Annual Report 2025 48

Further details on the Audit, Risk and Compliance Committee, including its composition and responsibilities are mentioned in chapter 4.2. of this Report.

Management Board

The Management Board decides on general management principles that the Group will follow. It defines the powers that will be delegated to BU Directors, to the Group Executive Committee and the Country Executive Committees, and sets thresholds up to which these powers apply, if need be.These rules apply to the following areas: subsidiary management, mergers and acquisitions, legal affairs, financial management, operational management, commercial management, human resources management, and communications etc. The Group Executive Committee and Country Executive Committees (referred to together as the “Executive Committee”) The Executive Committee handles all issues concerning the operations or activities of Group subsidiaries in their various operational and financial aspects It also supports the Management Board in streamlining the decision- making process and prioritizing the issues the latter has to deal with. In March 2024 the Group Executive Committee was reorganized and the Management Board appointed new members with expertise in legal, compliance, risk management, finance, IT, HR, ESG, data protection, investors relations, and communication. Management Board is also assisted by the Country Executive Committees where each respective member is responsible for internal control within the BU, or country, they oversee and in line with pre-established rules of power delegation. Every month, the respective Country Executive Committee receives a report from each BU that includes raw data and analysis, as well as key performance indicators (KPIs). Besides monthly activity and financial performance monitoring data, the report also includes an update on staff, business opportunities, and major operating risks. All this makes the report a key internal control tool for the Group. At its monthly meetings, the Country Executive Committee looks at data from the previous month and decides what corrective actions should be taken if any are needed. Further details on the composition and responsibilities of the Executive Committee are available in chapter 4.3.3.

In addition to these corporate governance bodies, Solutions30 has put in place Three Lines of Defense (3LoD) model:

1. Operations
   Beyond its controls that protect internal group administrative and accounting processes, the Group also carries out operational controls of the services that it provides. These control activities are handled by quality managers who implement, manage, and monitor controls with the operational teams.

2. Support services
   Compliance Department TPDD and other controls

Internal control

One of the primary goals of internal control is to prevent and control risks arising from group activities, as well as error and fraud risks, especially in the areas of accounting and finance. During the first quarter of 2025, we initiated a collaboration 2 with a company specializing in compliance. The aim of this cooperation is to structure, streamline, and further strengthen our Group-wide anti-corruption compliance program. Controls will be more closely aligned with risks, and a “Compliance” dashboard will allow the Group to manage compliance in real time and on an ongoing basis.

Control of business partners

A dedicated team is responsible for carrying out due diligence on the Group’s business partners before entering into any business relationship with them. These upfront controls relate to the financial situation, the network, and the reputation of group partners. The results are recorded in a specific in-house compliance platform which is continuously updated. This dedicated team also performs numerous ad hoc controls of business units to ensure appropriate levels of compliance.

Finance Department

The Group Finance Department and the Finance Departments of each country are jointly responsible for the production and integrity of accounting data. Financial control is ensured within each subsidiary by financial controllers who are responsible for both financial control and internal control. This role reports to the chief financial officer of each country. Each month, group-wide financial control analyzes the financial performance for the past month and the year to date. These data are compared to the monthly budget provisions from the previous year. This control takes place within each business unit, as well as at a consolidated group level. The corporate and consolidated accounts undergo an external audit, which is carried out by group and subsidiary auditors. The auditors of the subsidiaries carry out limited reviews of the half-yearly financial statements, as well as an audit of the annual financial statements. Any recommendations the auditors may make are studied, implemented, and monitored by the Group under the supervision of the Audit, Risk and Compliance Committee.

Legal Department

The Legal Department establishes a general set of corporate governance rules that apply to all Group employees and partners and oversees the controls that ensure the Group’s operations are in legal compliance. As part of the GRC project (described in detail in section 2.4 below), several Group-wide policies and procedures were established and continue to be updated for Group Solutions30 | Annual Report 2025 49 employees and partners, namely the Code of Conduct, the Business Partner Code of Conduct, the Anti-corruption Policy, the Third Party Due Diligence Policy (TPDD), etc. The goal of these policies is to set rules for proper behavior within the scope of professional activities that apply to all employees and subcontractors, as well as to any representatives, administrators, consultants, or other service provider acting on behalf of the Group or of one of its various subsidiaries. All employees, no matter their seniority, must adhere to the principles of the Code of Conduct in fulfilling all duties and responsibilities. These principles are based on the fair and good faith performance of the employee’s contract and on ensuring that all rules are also followed within an employee’s team, or by those under their supervision.

Each code of conduct mentioned above is divided into three sections, which cover the following themes:

A. Responsibility of each person as a member of society
* Human Rights
* Equal opportunity and equal treatment
* Sustainability and environmental protection
* Donations, sponsorships, and charity

B. Individual responsibility as a business partner
* Conflicts of interest
* Gifts, hospitality, and invitations
* Prohibition of corruption
* Dealings with officials and holders of political office
* Prohibition of money laundering and terrorism financing;
* Free and fair competition
* Prohibition of insider trading.

C. Individual responsibility in the workplace
* Occupational safety and healthcare
* Data protection
* Security and protection of information, know-how, and intellectual property
* IT security
* Handling of company assets

Also, as part of the GRC project, Solutions30 introduced an Internal Control and Risk Management System that includes policies, guidelines, procedures, and measures to ensure operational efficiency and compliance with all applicable laws and regulations.

Accounting

Accounting practices aim to:
* Ensure the soundness of the processes used to collect and process data for the financial information database
* Guarantee that corporate and consolidated financial statements are produced consistently, in line with current laws and regulations, and that they provide a true and fair view of the company’s situation and activities
* Make financial information available in a form that makes it easy to understand and use
* Publish corporate and consolidated group financial statements within time frames that meet both legal requirements and the demands of financial markets
* Define and supervise the application of financial security procedures, including the separation of duties principle
* Integrate financial security procedures into accounting and management information systems and identify and implement other necessary modifications

2 A financial ERP (Oracle Netsuite) continues its implementation to push process harmonization even farther.

Cash and financing

The Solutions30 finance team provides centralized cash management. There are tools and procedures in place to limit risk exposure, notably through managing interest rates, automatic cash pooling, and the use of deconsolidation factoring.

Financial communication

The financial communication role is responsible for sharing information about the Group’s finances and strategy, both within and outside of the Group. Financial information must be shared in strict compliance with market operating rules and with respect for the equal treatment of investors (see section 7.6 of this Report).

1. Internal audit

In Q1 2024 the Management Board and the Supervisory Board approved the creation of an internal audit department dedicated to the additional verification of the internal controls and compliance within the Group. An internal audit charter has been developed. The internal risk driven audits are included in an audit plan validated by the Audit, Risk and Compliance Committee. The audits focus on the internal controls developed during the GRC project. In the course of 2025, the internal audit plan was executed and the internal audit team carried out a comprehensive series of audits and assessments, focusing on the review of the internal controls developed during the GRC project. Key activities included:
* GRC audits conducted across various business units as well as subsidiaries, focusing, among other, on processes related to the verification of third parties, finance, operations, IT and procurement.
* Given the increasing focus on data security and compliance with the General Data Protection Regulation (GDPR) and NIS2 Directive, one key process under review during the audits is dedicated the NIS2 directive implementation and the effectiveness of our cybersecurity controls and data privacy processes.
* A part of audits focused on the Group’s financial reporting processes, ensuring the accuracy and reliability of financial statements.• A number of operational audits were conducted to assess the efficiency of processes, particularly in the supply chain, procurement, fleet and stock review areas. Solutions30 | Annual Report 2025 50 The Internal Audit function reports directly to the Audit, Risk and Compliance Committee, providing regular updates on audit activities, key findings, and actions taken. The Internal Audit team also works closely with senior management to ensure that audit recommendations are implemented effectively and that any significant risks, if applicable, are mitigated in a timely manner. In 2025, Internal Audit submitted 10 reports to the Audit, Risk and Compliance Committee, covering areas such as financial controls, IT security, vehicle fleet management, operations, and business partner due diligence. In addition, 3 ad hoc audits were performed to meet specific needs. By remaining agile and forward-thinking, the Internal Audit team will continue to play a critical role in supporting Solutions30’s long-term success and ensuring that risks are effectively managed.

2.4 Governance, Risk and Compliance

In 2021 Solutions30 initiated a transformation plan with the aim of further improving its governance framework and applying the best-in-class practices. Solutions30’s Supervisory Board selected an external partner, a leading specialist firm, whose support allowed Solutions30 to launch a project to improve its governance as well as its risk management and compliance (“the GRC project”). Through this project, Solutions30 consolidated its foundations to build a better future for the company and its growth. Compliance standards were set within the whole organization to guide all business relations, between the Group and its stakeholders. The objective of the GRC project was to enhance all policies and procedures within Solutions30, align them with best practices, and apply harmonized processes across the entire Group. Solutions30 chose to use the French anti-corruption law Sapin II as a benchmark for the GRC Project and focused on the following areas (for more details, see chapter 2.4 of the 2022 Annual Report):

1. Standardizing third party due diligence (TPDD)
2. Uniform risk mitigation procedures and enhanced internal control
3. Revised codes of conduct
4. Improving the whistleblowing process and launching the dedicated whistleblower platform
5. Training
6. Definition of disciplinary actions
7. Monitoring

The following actions were taken as part of the GRC project: (i) review of all existing policies and procedures, (ii) analysis of group compliance with applicable anti-corruption regulations, (iii) in-depth interviews with Solutions30 and subsidiary management and (iv) consolidation and analysis of all information gathered in the above phases to better define areas for improvement.

In the course of 2025 Solutions30 continued the verification of the compliance levels across the Group with the GRC policies, procedures and internal controls as well as the overall functioning of the GRC processes. The key conclusions of the 2025 GRC focused verifications are as follows:

A. Numerous GRC sessions organized by Solutions30 throughout the Group continued during the year and 2 remained highly effective, improving general understanding and awareness among employees. They further demonstrated the strengthened commitment of employees to applying GRC practices and guidelines in their day-to-day work.
B. New employees within the Group continue to undergo mandatory GRC training which remains part of the onboarding package for all newcomers.
C. TPDD process continued to evolve and improve, and is applied Group-wide; all business partners go through the TPDD process with a dedicated TPDD team managing the verification of Solutions30’s business partners.
D. Compliance organization within Solutions30 was further reinforced over the year, with the compliance responsible identified in each country continuing to oversee, in addition to the TPDD team, all compliance verification of the respective subcontractors.
E. Whistleblowing platform remains fully operational, and the related whistleblower policy continues to be applied effectively. The platform is managed by a dedicated whistleblowing team and is made available through the Group’s website. The entire whistleblowing system at Solutions30 continues to meet the requirements of EU Whistleblower Directive.
F. Sanctions policy and the guidelines for disciplinary actions and sanctions catalog remain fully implemented Group-wide.
G. GRC Knowledge Center (internal GRC platform) continues to function effectively and is accessible to all employees in all operating languages of Solutions30.
H. The Group further developed its IT governance framework considering the requirements of the NIS2 Directive, with the purpose of reinforcing the security, reliability and resilience of its information systems. The objective is to ensure that the Group’s processes and structures remain adequate to prevent, detect, and respond to cybersecurity risks. This includes improving policies, strengthening internal controls, enhancing monitoring and reporting procedures, and ensuring that essential IT functions continue to operate in a secure and compliant manner across the Group. Solutions30 | Annual Report 2025 51
I. On-site compliance and internal controls’ verifications continued to be carried out within entities belonging to Solutions30 Group and such controls will be further expanded going forward.
J. Subsidiaries continue to apply the internal controls introduced by the GRC project and continue to improve the formalization of the mentioned controls.
K. Overall transparency and GRC commitment of the subsidiaries continued to increase during the year and proved to remain effective.

In addition, GRC targets continue to be included in the annual objectives of members of the Management Board and key managers to emphasize the importance of this topic to Solutions30. The implementation of the GRC set of policies and procedures continues to be monitored and evaluated under the supervision of the Group Head of Risk and Compliance through various compliance control exercises in the subsidiaries of Solutions30 Group. Moreover, in Q1 2024 Solutions30 created additional level of control namely internal audit function. At the same time the Group Internal Audit Charter was revised and updated. Group Internal Audit Charter includes core principles of internal auditing and sets out a binding framework for audit and operational planning, the preparation and performance of audits, controls, and the creation of reports. Besides the applicable procedures, the charter also describes the roles and responsibilities within the 2 departments and specifies how quality assurance is ensured within the auditing areas. In 2025, the internal audit plan was executed and the internal audit team carried out a comprehensive series of audits and assessments, focusing on the review of the internal controls developed during the GRC project and on the NIS2 directive. Further details on the key activities of the internal audit team are available in chapter 2.2.3.3.

2.5 Transformation Takeaways

Since its entry onto the regulated market, Solutions30 has carried out major transformations and deployed significant resources since in this respect. Drawing on the lessons learned from the smear campaign waged against the Company in 2020-2021, and by analyzing the weaknesses identified at that time when the Company was not operating on a regulated market, the Group has since implemented the most demanding practices in several areas:

– Applying IFRS, in particular with regards to the accounting methods used to define the scope of consolidation in the context of the M&A transactions
– Strengthening audit and planning processes
– Defining new compliance rules, in particular with regards to transactions with related parties, directors’ remuneration, and relations with group subcontractors
– Applying harmonized internal control framework to all levels and geographies of the organization
– Structuring the validation process for financial communications

Application of IFRS accounting standards

Following the adoption of IFRS, the Group changed its teams and working methods:

– Strengthening IFRS expertise by recruiting for the Solutions30 finance department and appointing Audit, Risk and Compliance Committee members with in-depth technical accounting expertise.
– Improvement of the documentation related to the accounting methods applied to the scope of consolidation
– Systematic review of the accounting methods by the Audit, Risk and Compliance Committee

Audit process and planning

To continuously improve its internal processes, the Group has implemented the following strategic actions to strengthen control and planning:

– The deployment of cross-functional accounting tools and implementation of common accounting policies to standardize and streamline accounting practices across all Group divisions
– The development of more detailed planning processes for more precise oversight
– The organization of monthly reviews with each business unit to ensure regular monitoring of operations
– The reinforcement of the audit committee, responsible for overseeing and guaranteeing the integrity of financial and internal control practices

Related parties’ transactions

A rigorous process for monitoring transactions with related parties continues to be applied throughout the Group:

– Implementation of a systematic process of due diligence of third parties (TPDD) with whom the Group has commercial relations. This due diligence is carried out by an internal team of around twenty people, equipped with specific IT tools and skills, under the Solutions30 | Annual Report 2025 52 supervision of the Group Head of Risk and Compliance. These processes are supplemented by additional investigations and analyses carried out by specialized partners when necessary.– The compliance team continues to be strengthened with the appointment of a compliance officer in each country, responsible for managing, in addition to the TPDD team, all compliance verifications of group subcontractors. A monthly meeting bringing together all compliance officers is organized to address any new compliance related topics.
– 1,282 entities were subject to verification by the Solutions30 TPDD team in 2025, The major checks were carried out on the SMEs (66%) and self- employed entrepreneurs (32%).
– Training and awareness-raising sessions were organized to make all staff aware of the concept of transactions with related parties and the importance of declaring such related parties.
– In 2025, all newly onboarded employees participated in the GRC training and 8 additional GRC training sessions were organized with the management and operational teams of all Group subsidiaries and continue to be held in 2026.
– Transactions with related parties are subject to an in-depth and exhaustive review twice a year, as part of a process involving the Group Head of Legal, Group Head of Compliance, the Management Board and the Audit, Risk and Compliance Committee.

Remuneration of directors
Executive remuneration is determined, validated, and communicated according to rigorous processes:
– All remuneration of the Management Board is reviewed by the Nominations and Remuneration Committee of the Supervisory Board of Solutions30 and must be formally approved by the Supervisory Board. This includes fixed salaries, bonuses, instruments giving access to the Company's capital, long term incentive plans, benefits in kind, insurance, pensions and generally any item involving a financial benefit for the Management Board member.
– In addition, the Group ensures that remuneration is disclosed in the Group’s annual report, in the interests of transparency and in accordance with the applicable laws.
– The annual objectives of members of the Management Board and the Group’s key executives systematically include risk management and compliance targets.

Strengthening internal control
Solutions30 has deployed significant internal control measures:
– Solutions30 Group has set up a whistleblowing platform enabling anyone with any doubts about the nature of certain transactions or inappropriate behavior to inform the Company's control bodies. The platform is operating effectively and is accessible to all employees and business partners. The table below shows the number of alerts received and processed since the whistleblowing platform was set up:

	2023	2024	2025
Analyzed	4	7	13
Non-receivable -Test	2	3	1
Total	6	10	14

2 Further details of the whistleblowing platform and procedure are given in chapters 2.4 and 3.4.1.1 of this Report.
– The Group has deployed and continues to monitor an internal control framework in all its subsidiaries, based on the most demanding European laws on financial transparency and anti-corruption treatment.
– An internal audit team, independent of Group Management Board and reporting directly to the Audit, Risk and Compliance Committee, has been set up and continues to monitor compliance with the applicable laws, management directives and the internal controls The table below shows the scope of internal audit, and the process in 2025:

Audited entities 2025	Scope of 2025 internal audit
Germany	• 91 internal controls verified • Audited processes: – HR – Procurement – Operations (subcontractors, fleet, planning) – Sales – IT (NIS2) – GDPR – Finance/Accounting
Netherlands
Luxembourg (Opco)
Italy
Belgium
Unit-T
Portugal
Poland
United Kingdom
France	– Solutions 30 ETC – Solutions 30 GSE – Caribbean (Guyane)

Further details of the internal audit and related process are given in chapter 2.3 of this Report.

Financial Communication
As part of its commitment to enhancing the transparency and quality of its financial communications, the Group has undertaken several strategic actions:
Solutions30 | Annual Report 2025 53
– Solutions30’s financial communications team has been restructured and new skills integrated to better meet the growing demands of the market and investors.
– In addition, financial press releases, particularly those concerning the Group’s results, are now drafted in collaboration with specialist external advisors, thus guaranteeing clear and accurate presentation of financial information. Before publishing, these press releases are systematically reviewed by the Audit, Risk and Compliance Committee, as well as by the Supervisory Board, to ensure rigorous validation and optimum compliance with current standards.
– Finally, audited financial information is systematically reviewed by the Group’s authorized auditor.

Building on the progress achieved to date, going forward the Group will further strengthen its organizational structures, improve operational efficiency, and refine its risk management and compliance frameworks. Continuous improvement initiatives will be pursued across all functional areas to ensure that the Group remains agile, resilient, and aligned with regulatory expectations and industry best practices. These efforts are designed to support sustainable growth, reinforce operational excellence, and ensure that the Group remains well 2 positioned to respond to evolving market conditions, technological developments, and stakeholder expectations.
Solutions30 | Annual Report 2025 54

SUMMARY OF GRC DELIVERABLES

Risk and Internal Controls
• Verification of internal controls group-wide
• Formalization of internal controls
• Risk and Control Matrix, as well as the manual sent out and applied group-wide
• Country compliance teams enhanced

2 Third Party Due Diligence
• Functioning third party due diligence (TPDD)e
• Third party due diligence is applied
• TPDD team operational group-wide

Whistleblower Mechanism
• Whistleblowing Platform accessible and effective
• Whistleblower Policy and process applied

Code of Conduct
• New Code of Conduct implemented
• New Business Partner Code of Conduct communicated

Training
• GRC training (Governance, Risk and Compliance) part of onboarding package
• GRC awareness sessions held and effective

Disciplinary Sanctions
• Sanction Management Policy and process applied

Internal Audit
• Internal audit charter applied
• Risk driven audits performed

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3 Sustainability Statement

3.1 General Information 74

3.2 Environment 110

3.3 Social 140

3.4 Governance 152

3.5 Our Commitments 157

3.6 Our Certifications and ESG Performance 160

3.7 ESRS Content Index

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Message from the Management Board
Dear Shareholders, Employees & Partners,

We are pleased to present Chapter 3 of our Annual Report, which highlights the Group’s ongoing progress in environmental, social, and governance (ESG) responsibility. This year has been marked by major milestones that reflect our ambition to integrate sustainability at every level of our organization. We are proud to report that the Group met all its ESG key performance indicators for the year. From reducing greenhouse gas emissions and improving energy efficiency, to strengthening diversity, investing in training, and enhancing governance practices, these achievements demonstrate our continued ability to convert our commitments into measurable results.

Our commitment to the Science Based Targets initiative (SBTi) is central to our climate ambitions. Throughout the year, we advanced the work required to define greenhouse gas (GHG) emission reduction targets aligned with scientifically validated pathways. By engaging with SBTi and preparing to adopt science-aligned targets, we reaffirm our intention to contribute to limiting global warming to 1.5°C, in line with the Paris Agreement. This approach provides a robust and credible foundation to guide our long term decarbonization strategy.

The Supervisory Board played a decisive role in overseeing these efforts. Its involvement in ESG matters continued to grow throughout the year, reflecting the strategic importance of sustainability for the Group. The Board closely monitored the execution of our ESG roadmap, reviewed progress against all key targets, and provided guidance on major initiatives, particularly our alignment with the Science Based Targets initiative (SBTi). Thanks to the extensive work carried out in 2025, our greenhouse gas emission reduction objectives were formally validated by the SBTi in early 2026, marking a significant milestone in our climate strategy.

A dedicated ESG session was held in Q4 2025 bringing together the Supervisory Board and the Group Management Board to review achievements for 2025, assess ongoing projects, and evaluate ESG performance indicators. This active oversight strengthens our governance framework and ensures that ESG considerations remain embedded in decision making at the highest level.

Although the Corporate Sustainability Reporting Directive (CSRD) has not yet been transposed in Luxembourg, where the Group is headquartered, we have chosen to publish for the second year this report in accordance with the directive. This proactive approach enhances transparency, comparability, and accountability in our ESG disclosures and reinforces our integration of sustainability considerations into corporate governance. It also supports stronger stakeholder confidence in our extra financial performance.

In conclusion, we extend our sincere appreciation to all employees and partners for their contribution to these achievements. Together, we are shaping for a more responsible, resilient, and forward-looking Group. Our commitment to sustainability continues to deepen, and we remain determined to build on this momentum in the years ahead.The Management Board Solutions30 | Annual Report 2025 57

Solutions30’s Local ESG Initiatives for 2025

Environment

France – Telecom Mobilization After the Wildfires in Aude

The Solutions30 teams in Occitanie were fully mobilized to rebuild network infrastructure and restore telecom services in the Aude department (11), which was hit by one of the most devastating wildfires in recent years. The teams intervened near Coustouges, where a temporary repair made it possible to restore services in the surrounding villages. On this occasion, 6,414 meters of cable were laid in a single day. Nearly 800 poles were affected.

Environment Poland – National “Healthy Cities” Initiative

S30 Poland took part in LUX MED’s national “Healthy Cities” initiative, which encouraged everyone to walk at least 6,000 steps per day for a month. This challenge combined personal well‑being with environmental engagement, while fostering friendly competition between companies and cities. Congratulations to all employees who showed strong commitment - every step made a difference!

Environment Portugal – Repsol Diesel Nexa 100% Renewable (HVO) Pilot Project

S30 Portugal partnered with Repsol to launch a pilot project using exclusively Repsol Diesel NEXA 100% renewable (HVO) across our entire diesel vehicle fleet in Portugal. This six‑month pilot made it possible to monitor fuel consumption, engine performance, and CO₂ emissions in order to assess the real impact of switching from traditional diesel to HVO.

Social

International Women’s Rights Day

Solutions30 celebrated International Women’s Rights Day with a dedicated video campaign that gave a voice to 10 women from different countries and cultures across the Group. The initiative aimed to highlight equality, diversity, and the essential role women play within the organization.

Social France – Pink October at Money30

The Money30 teams gathered at the Joué- lès-Tours site to support Pink October with great energy and solidarity. Dressed for the occasion, employees took part in a charity quiz organized in pairs. Thanks to this initiative, funds were raised and fully donated to the ARC Foundation, which is dedicated to cancer research.

Social Portugal – Solidarity Campaigns

Solutions30 Portugal once again partnered with SOPRO for a food donation drive to support families in need. The “Pirilampo Mágico” campaign also mobilized teams to promote the inclusion of people with disabilities. In addition, another blood donation drive was organized with the participation of employees, helping to save lives. These initiatives reflect the company’s ongoing commitment to supporting local solidarity efforts.

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3. SUSTAINABILITY STATEMENT

3.1 General Information

3.1.1. Corporate Sustainability Reporting Directive

The Solutions30 Group presents in this chapter its sustainability report, titled “Sustainability Statement”, prepared in accordance with the requirements of the European Sustainability Reporting Standards (ESRS). The adopted structure follows the sequence defined in Appendix D of ESRS 1 – General Requirements, organizing the content into six sections (subchapters):

• General Information
• Environmental Information (including the mandatory disclosures related to the EU Taxonomy)
• Social Information
• Governance Information
• Our Commitments
• Our Certifications and ESG Ratings

Each subchapter identifies the ESRS disclosure requirements addressed in this report (supplemented by the ESRS Correspondence Table in section 3.7). It is worth noting that, while some disclosures may not yet fully meet all referenced requirements/ data points, the intention is to demonstrate clear alignment with the ESRS and to reflect the Group’s continuous efforts to improve and enhance the completeness, consistency, and quality of its sustainability reporting.

In addition, this Sustainability Statement has been prepared in alignment with the Corporate Sustainability Reporting Directive (CSRD), incorporating the clarifications and adjustments introduced by the “CSRD quick fix”. These amendments provide transitional flexibilities to support a progressive implementation of the new reporting obligations. The Solutions30 Group closely follows these regulatory developments to ensure that the structure, scope, and presentation of its sustainability information reflect both current legal requirements and the temporary simplifications designed to facilitate an orderly and consistent adoption of the European sustainability reporting framework..

The disclosure of the material topics (subchapters: 3.2, 3.3, and 3.4) is structured as follows:

a. Our Approach: strategy, business model and Policies (including internal programs and external commitments)
b. Material Impacts, Risks and Opportunities (IRO)
c. Actions to mitigate impacts or risks and maximize opportunities.
d. Objectives, targets and Key Performance Indicators (KPIs)
e. Data information according to the ESRS disclosure requirements (data points)

The information provided in this report reflects the Group's key results and details aspects considered material, as determined by the double materiality analysis conducted in 2024 (see section 3.1.5). All the data points included in the Environmental, Social, and Governance sections (3.2, 3.3 and 3.4 respectively) have been assessed as material according to our double materiality assessment (DMA). The following pages also provide information on our DMA’s limitations to scope and 3 our methodology.

All greenhouse gas data points (GHG scope 1, 2 and 3) are reported based on the Greenhouse Gas Protocol.

Consolidation

All sustainability data is consolidated in accordance with the same principles applied to the Group’s financial statements. Consequently, the consolidated quantitative ESG information covers the parent company, Solutions30 SE, and all subsidiaries. Following the exit from the United Kingdom and the Telecom activity in Spain at the end of 2025, IFRS 5 was applied to the consolidated income statement and cash flow statement for 2025, as well as to the comparative figures for 2024.

For this reason, and in order to ensure full alignment between the financial reporting and the data presented in this Sustainability Statement, the necessary adjustments were made to all figures disclosed throughout Chapter 3. As a result, previously published figures for 2023 and 2024 were recalculated to remove the contributions from the UK operations and from the Telecom activity in Spain. In the case of Spain, the Non Telecom activity remains included in this report. Due to the inability to accurately segregate resources and other operational components between the Telecom and Non Telecom businesses, the allocation was performed using the revenue share of each activity as the basis for calculation for each year under review.

The consolidation of all quantitative ESG data follows these principles unless otherwise specified in the accounting methodologies presented alongside each reported metric in the tables included in the Environmental (3.2), Social (3.3), and Governance (3.4) sections.

Monitoring ESG Regulatory Developments

The Group continuously monitors new international and domestic ESG regulations to be implemented, ensuring that the company remains up-to-date with evolving requirements. This proactive approach supports timely Solutions30 | Annual Report 2025 59 compliance and integration of ESG best practices across all operations.

Main Estimates and Extrapolations

We use occasional estimates and extrapolations for certain data points (e.g. for some categories of Scope 3 emissions). These estimates are periodically reviewed and updated to reflect our evolving experience, advances in ESG reporting practices, improvements in data‑collection processes, and other relevant factors. To ensure full transparency and traceability, we clearly identify all instances where estimates or extrapolated values are applied. These indications are provided directly alongside the corresponding data tables throughout this report. Any revisions to previously applied estimates are recognised in the reporting period in which the change occurs.

Restatements of Previously Published Values

In line with the information presented in the previous section on consolidation, certain figures from prior years included in this report may differ from those published in earlier annual reports. In most cases, these differences result from ensuring full alignment between the financial reporting and the data presented in this Sustainability Statement. They may also arise from newly available data, updates to calculation methodologies to ensure alignment with ESRS requirements, revisions to estimates or extrapolations, or other necessary adjustments. For ESG data, each case is assessed individually to determine whether a restatement is required. Whenever 3 restatements are made, they are clearly identified to ensure transparency and comparability over time. These updates reflect our commitment to accuracy, reliability, and continuous improvement in our reporting practices. Any significant changes are explicitly explained to ensure clarity for our stakeholders and full alignment with best practice sustainability reporting expectations.

Our ESG Reporting Timeline:

3.1.2. S30 CSR Principles and CSR Group’s Policy

Solutions30 plays a pivotal role in advancing digital technology and facilitating the global energy transition. Our mission is to make the technical and technological innovations that are reshaping daily life accessible to everyone, whether in homes or businesses. Every day, our teams drive digital transformation by empowering users to fully embrace and leverage cutting-edge innovations, ensuring no one is left behind in this fast-evolving landscape. This transformative approach is rooted in the Solutions30 philosophy of service excellence, a commitment that resonates in the loyalty and trust of our customers.By building strong relationships and providing tailored solutions, we continue to be a trusted partner for individuals and businesses alike. At Solutions30, we are deeply committed to a comprehensive and integrated approach to environmental, social, and governance (ESG) issues. This means actively addressing our environmental footprint, promoting social responsibility, and ensuring robust governance practices while considering the needs and expectations of all stakeholders (customers, employees, partners, investors and communities).

The seven principles of CSR of Solutions30 strategy

As part of its sustainable development strategy, Solutions30 has based its vision of corporate social responsibility on seven fundamental principles:
* Developing innovative services that have less of an environmental impact (Global Compact) and that help to build a sustainable and circular economy
* Facilitating digital transformations by providing access to technology for companies and individuals alike
* Striving for excellence in terms of workplace health and safety
* Promoting youth employment and developing human potential with training and education
* Optimizing relationships with stakeholders through transparency and commitment
* Promoting a culture of integrity within the Group
* Involving suppliers and partners in all its CSR efforts through communication, interaction, and active listening

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As a responsible organization, Solutions30 is dedicated to integrating environmental, social, and governance (ESG) considerations into its daily operations. The company continuously strives to enhance its Corporate Social Responsibility (CSR) strategy and refine its ESG reporting practices, ensuring transparency, accountability, and sustainable growth.

CSR Policy

Our CSR Group Policy was approved in 2024 and reviewed again in 2025, confirming that it remains up to date and fully aligned with our strategy and principles. This policy applies to all companies within the Solutions30 Group and defines, among other elements, the roles and responsibilities related to Corporate Social Responsibility across the organization. The key objectives of our CSR Policy are to:
* Define and prioritise the focus areas for our Corporate Social Responsibility activities
* Set out the implementation strategy for CSR initiatives
* Establish the monitoring mechanisms for CSR programmes
* Measure the outcomes and impacts of CSR actions
* Promote the continuous improvement of our CSR performance

The Solutions30 Group CSR Policy is built on an assessment of the concerns and priorities of both internal and external stakeholders, as well as on our Double Materiality analysis. Financial objectives must be achieved while considering their social, societal, and environmental impacts. Solutions30 is committed to ensuring optimal value chain management by applying the principles of Corporate Social Responsibility, particularly with regard to customer satisfaction and the ethical management of its supply chain.

Regarding the monitoring and reporting of CSR issues, our approach aims to provide management with accurate and exhaustive information to support proper decision- making:
* Every month, at least one CSR meeting is conducted with all CSR Country SPOCs of the Solutions30 Group. These meetings focus on various CSR management topics, including ongoing projects, ESG KPI status, initiatives, improvement actions, best practices, and training needs.
* Monthly, the ESG KPI status is shared with the Country SPOC and the Country CEO or Business Unit Manager. This allows them to analyse interim results and annual projections, enabling them to define and implement improvement actions to ensure the achievement of the set targets by year-end.
* Additionally, on a monthly basis, the Group Head of CSR presents the status of CSR objectives and projects to the Management Board. This includes updates on each country’s CSR KPIs, a summary of improvement actions, and the overall group status.
* Quarterly, the CSR Manager holds individual meetings 3 with the Country CEOs or Business Unit Leaders to review the status of each ESG KPI and ensure progress toward the established goals. The Group Head of ESG also reports to the Strategy-ESG Committee on the status of ESG KPIs. In these meetings, the ESG strategy is presented alongside the results of already implemented projects, the ongoing projects, and the respective action plans for their implementation. This provides a comprehensive overview to ensure alignment and progress toward achieving the defined targets.

Limited Assurance Review

As Solutions30 Group is headquartered in Luxembourg, and Luxembourg has not yet transposed the CSRD Directive into national law, a limited assurance review is not currently required. Once the Directive is formally transposed and the corresponding national requirements take effect, Solutions30 will update its reporting and assurance processes to ensure full alignment.

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3.1.3. Sustainability governance at Solutions30 (CSR organization chart)

Solutions30 has a CSR/ESG department that is made up as follows: 3

Supervisory Board

During 2025, the Supervisory Board was composed of seven members (three women and four men). Two mandates reached their term during the year and were not renewed, and two new members joined the Board in the second semester. All members of the Supervisory Board are fully independent, they have complementary professional backgrounds, as detailed in section 4.2. They share a strong commitment to advancing the Group’s sustainable development strategy. In the fourth quarter of 2025, the Supervisory Board and the Group Management Board held a dedicated meeting to review ESG matters. Discussions focused on the Group’s ESG achievements for 2025, oversight of ongoing initiatives, including the definition of GHG emissions reduction targets aligned with the Science Based Targets initiative (SBTi), and a comprehensive review of ESG performance indicators.

Strategy and ESG Committee

The Strategy and ESG Committee oversees and evaluates the Group’s strategy, particularly in relation to ESG criteria, and proactively identifies and proposes measures to mitigate risks. This includes conducting an annual review of ESG objectives and strategic plans, analyzing investment plans, overseeing the Group Management Board, and contributing to strategic decision- making processes related to ESG. This committee plays a crucial role in embedding environmental, social, and governance considerations into the Group’s overarching strategy and to review and support the central team management of ESG projects. It met 4 times in 2025, with an attendance rate of 100%.

Management Board

The members of the Management Board possess strong technical and operational expertise, reflecting the Group’s preference for internal promotions to these positions. Historically, the industries in which we operate had lower female participation, which has resulted in a more limited representation of women in leadership roles with extensive technical experience. Consequently, there are currently no women serving on the management board. To address this, responsibility for setting targets to increase the number of female employees has been assigned to the Country Executive Committees. The Group Management Board closely monitors ESG performance indicators, receiving monthly reports from the CSR Department that prompt follow-up discussions and strategic actions. The Management Board is responsible for defining the general management principles that guide the Group. It establishes the powers delegated to the Executive Committee and Business Unit (BU) managers and determines the thresholds for these delegations as necessary.

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In particular, the Group Management Board is tasked with the following:
* Authorizing and ensuring the establishment of an effective CSR team;
* Reviewing, approving, and overseeing the implementation of the CSR Policy;
* Approving the annual CSR activity plan; and
* Reporting on progress and developments to the Supervisory Board.

Group Executive Committee

The Group Executive Committee is a standing committee of the Group Management Board. The main purpose of the Group Executive Committee is to provide to the Group Management Board all necessary assistance, support and advice in order to streamline the decision-making process and prioritize issues to be handled by the Group Management Board. In addition, the duties of the Group Executive Committee include the following matters:
* Participation in the implementation of internal policies on GRC (governance, risk and compliance), ESG, security, IT, communications, data protection, investors relations, finance related procedures, quality management, security, human resources etc.
* Submitting recommendations to improve these policies.
* Advising the Group Management Board on best practices implemented locally, as well as on investments, general organization of the Group.
* Promoting the convergence and centralization of certain activities at the group level in order to reduce related costs.

The Group Executive Committee consists of seven members, including four women and three men, illustrating the Group’s ongoing commitment to gender equality and diversity. This composition demonstrates our intention to embed balanced representation at the highest levels of governance and to set a clear example for the broader organization. A leadership team enriched with diverse perspectives strengthens the quality of strategic decisions and supports more inclusive, forward‑looking management practices. The Group continues to promote gender balance across all levels of the organization, including through initiatives aimed at increasing the presence of women in management roles.These efforts form part of our broader ambition to cultivate an equitable and inclusive working environment that fosters the professional development of all employees.

CSR Department

The Solutions30 CSR Department plays a central role in coordinating and overseeing the Group’s sustainability‑related activities. Since its creation in July 2022, the team has remained stable and focused on the Group’s material topics while providing guidance and support to all local CSR teams across the countries where Solutions30 operates. The department is led by a member of the Executive Committee and supported by a Group CSR Manager, with strong expertise in quality, environment, and health and safety, as well as a dedicated data analyst responsible for the collection, processing, and consolidation of all ESG‑related data, indicators, targets, and reporting requirements.

The CSR Department operates in close collaboration with local teams. Each country or entity depending on its size, has its own teams responsible for human resources, quality, environmental management, and health and safety. The CSR leads in each country, referred to as Country SPOCs (Single Points of Contact), are responsible for collecting data generated by their operational teams. They upload this information monthly to the central ESG SharePoint. The Group CSR team then reviews, validates, and analyses the data, consolidates KPIs at Group level, and reports the results to the Group Management Board.

In addition, Country SPOCs contribute to the implementation of CSR initiatives within their respective subsidiaries. Through regular interaction with the Group CSR team, these local leads help standardize processes and methodologies, such as data‑collection procedures, and promote the sharing of best practices, fostering continuous improvement of the Group’s CSR performance.

To ensure consistency and efficiency across all entities, the CSR Department has formalized the procedures for CSR data collection, validation, and reporting. These procedures have been shared with all relevant stakeholders, and internal training sessions were organized to raise awareness and ensure that all teams are fully familiar with the process. Each country, company, or Business Unit has its own dedicated ESG SharePoint site, used to update information and report ESG data on a monthly basis. This data is essential for monitoring and calculating ESG KPIs at Group level.

Using the information collected, the Group CSR team performs comprehensive analyses, including:
* Assessing the Group’s overall performance against ESG indicators;
* Tracking KPI trends over time;
* Conducting cross‑country and cross‑entity comparisons;
* Defining action plans; and
* Evaluating the effectiveness of those actions.

The Group CSR Department has also established a robust ESG risk‑analysis framework, linked to each defined target. The probability of achieving each target is assessed and updated monthly, enabling proactive management of the Group’s sustainability objectives. When preliminary results indicate that KPIs are not progressing in line with defined targets or thresholds, the Group CSR team works closely with local teams to oversee and support the implementation of improvement actions, ensuring alignment with the Group’s objectives. Additionally, the CSR Department provides continuous support and expert guidance to local teams on ESG‑related matters, including responses to CSR questionnaires from clients or prospective clients, and active participation in meetings and projects with customers, partners, and suppliers on sustainability topics.

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3.1.4. Double Materiality Assessment (DMA)

3.1.4.1. Introduction

In 2023, the Group completed an ESG assessment project overseen by the Group Head of CSR and supported by an external ESG specialist. This work comprised the identification of stakeholders and sustainability matters, followed by a structured interview process that informed the development of the Group’s first double materiality matrix. The assessment covered both impact materiality—evaluating actual and potential impacts of Solutions30’s activities on stakeholders—and financial materiality, analyzing how sustainability related risks and opportunities could affect the Group’s strategy, business model and financial performance.

As the 2023 double materiality matrix, published in the 2023 Annual Report, had been finalized prior to the release of the ESRS Standards, a revision became necessary to ensure consistency with the Corporate Sustainability Reporting Directive (CSRD) and the European Sustainability Reporting Standards. In 2024, the CSR team carried out a comprehensive update of the double materiality assessment (DMA) in line with the CSRD Directive (EU) 2022/2464, the ESRS Standards set out in the relevant Commission Delegated Regulation, and the accompanying guidance provided by EFRAG. Given the analytical complexity of quantifying sustainability related financial risks, the 2024 revision placed particular emphasis on strengthening the impact materiality assessment.

In 2025, the Group conducted an additional review of the DMA to ensure its continued relevance and alignment with regulatory expectations. This analysis confirmed that the existing materiality results remained fully reflective of Solutions30’s operational context, stakeholder expectations and sustainability priorities. Accordingly, no modifications were deemed necessary, and the 2025 Sustainability Statement continues to rely on the material topics identified in the revised 2024 assessment.

3.1.4.2. Double materiality assessment methodology

In the double materiality analysis, several internal and external stakeholders were consulted to quantify the impact of Solutions30’s activities on people, environment, and society (materiality of impact), as well as how ESG factors influence the company’s financial performance, identifying risks, and opportunities (financial materiality).

Our dual materiality analysis followed these general steps:

• Context Analysis: Collection and mapping of information, by an external company expert in the topic of sustainability, relating to:

  • Global sustainability trends, particularly in the sector of activity in which the Solutions30 Group operates
  • Sustainability topics, which reflect real and potential impacts
    This step was carried out in the 2023 materiality analysis and used as input in the review and adaptation of the double materiality analysis carried out in 2024.

• Stakeholder Identification and Engagement: Identification of the most important internal and external stakeholders, based on the level of relationship and the level of impact. Both internal and external stakeholders, including employees, customers, investors, regulators, were identified and engaged. Their input was critical for understanding the organization’s sustainability context. This step had already been carried out in the materiality analysis carried out in 2023 and was used as input in the review and adaptation of the double materiality analysis carried out in 2024.

• Identification of Relevant ESG Topics: to this end we carry out an internal analysis of the activities of Solutions30 Group, benchmark of CSR issues and CSR strategies of companies in our sector of activity, analysis of sector literature on CSR and ESG reporting standards. A broad range of ESG topics were identified based on the organization’s activities, industry standards, and emerging global issues. Sources such as ESRS 01 and EFRAG guidelines were used to frame these topics.

• Data Collection and Evaluation: Quantitative and qualitative data was collected through surveys, interviews, and internal CSR reporting systems. The data was analyzed to assess the significance of each ESG topic under both impact and financial materiality dimensions.

• Scoring Impacts, risks and Opportunities: To calculate impact materiality, we follow the recommendations of the EFRAG Guidance, assessing three parameters: “Scope (Perimeter),” “Scale (Magnitude),” and “Irremediability.”

• Scope: We assessed the perimeter of the impact using parameters such as the percentage of sites, employees, or financial spending that the impact relates to. Scope describes how widespread the impact is, considering factors like geographic or demographic reach and the number of individuals affected.
• Scale: Scale measures the significance or severity of an impact’s consequences. We evaluated the magnitude of the impact on the environment or people, after consideration of mitigation actions already in place.
• Irremediability: We assessed the difficulty of reversing the damage caused by the impact, considering both cost and the time horizon. Irremediability highlights the extent to which an impact cannot be undone or repaired.
  For potential impacts, an additional parameter of “likelihood” was scored.

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When scoring risks, we assessed the potential magnitude of financial effects, which accounted for half of the score, and the likelihood of occurrence, which made up the other half. These assessments included consideration of risk mitigation actions already in place. For the classification of “Potential Magnitude,” a 5-level scale was used, ranging from “Very Low” to “Very High.” For the classification of “Likelihood,” a 5-level scale was also used: “Rare,” “Unlikely,” “Possible,” “Likely,” and “Current.” Each level was defined with a specific meaning to ensure clarity and consistency. However, due to the complexity of defining exact monetary values for potential sustainability risk scenarios, qualitative assessments were heavily relied upon to complement the quantification in monetary terms.

• Development of the Materiality Matrix: Construction of the materiality matrix, enabling to identify the most critical issues to be addressed in its CSR strategy.The outcome can be visualized in a materiality matrix that categorizes ESG topics based on their relevance from both perspectives. The matrix highlights priority areas where Solutions30 should focus its sustainability efforts.

• Approval of the Double Materiality Matrix by the Management Board, the double materiality matrix carried out in 2024, which includes the identification and hierarchy of material topics, was revised and approved by the Management Board on 27/01/2025.

• Integration and Reporting: the material topics are integrated into the organization’s sustainability strategy and reported in alignment with CSRD and ESRS standards. This ensures that stakeholders have a clear view of both the company’s external impacts and its internal risks and opportunities.

As noted above, surveys and interviews conducted with internal and external stakeholders played a pivotal role in determining the most important issues from both a financial materiality perspective and an impact materiality perspective. The resulting materiality matrix reflects this “double relative importance,” accounting for both dimensions of materiality as required by the Corporate Sustainability Reporting Directive (CSRD). The directive mandates that both impact materiality and financial materiality be considered in sustainability reporting. The analysis revealed a strong convergence of opinions among internal and external stakeholders regarding the issues of greatest material importance.

3.1.4.3. Double materiality assessment outcome

We have identified our impacts on the environment and society (impact materiality assessment) as well as the sustainability-related risks to which we are exposed (financial materiality assessment). The results are categorized according to ESRS topics, highlighting that “E1 – Climate Change,” “S1 – Own Workforce,” “S2 – Workers in the Value Chain,” “S4 – Consumers and End- Users,” and “G1 – Business Conduct” are our most material sustainability matters.

Our environmental impacts, risks, and opportunities within “E1 – Climate Change” are closely tied to our strategic efforts to deliver renewable energy solutions. These include initiatives such as installing photovoltaic solar panel plants, developing networks of electric vehicle battery chargers, and deploying smart meters. While the development of new renewable capacity mitigates climate impacts, it also requires significant travel by technicians, which has adverse effects on the climate and environment due to greenhouse gas (GHG) emissions.

Our operations (primarily connectivity services and renewable energy solutions) also significantly impact people and societies. This is reflected in the material topics “S1 – Own Workforce,” “S2 – Workers in the Value Chain,” and “S4 – Consumers and End-Users.” We prioritize ensuring a safe working environment for both our technicians and subcontractors. Additionally, we invest in continuously enhancing our technicians’ skills through tailored training programs that align with their needs and support the development of our range of solutions. We believe that the provision and expansion of internet networks further contributes to improving the quality of life in communities, positively impacting the inclusion of vulnerable groups.

The topic “S4 - Consumers and End-Users” is also vital to the sustainability and growth of Solutions30’s business. Customer satisfaction is a cornerstone of our success, directly influencing client retention, loyalty, and our ability to expand in a competitive market. By prioritizing the needs and expectations of our clients, we strengthen relationships and create long-term value for all stakeholders. Equally important is our commitment to cybersecurity, which plays a critical role in building and maintaining trust. As a company entrusted with handling sensitive data, such as end-user customer databases, we understand the paramount importance of safeguarding this information. Robust cybersecurity measures not only protect against threats but also reassure our clients that their data is managed securely and responsibly.

The topic “G1 - Business Conduct” is of critical importance to Solutions30, particularly as a publicly listed company. Transparent governance and robust business practices are fundamental to maintaining trust and ensuring the long-term success of our operations. A key element of our approach is the implementation of a comprehensive third-party due diligence system. This ensures that our subcontractors and business partners comply with our standards of integrity and ethical conduct. Given that a significant portion of our services is delivered through subcontracting, verifying compliance is essential to safeguarding our reputation and operational reliability. These measures are not merely supportive but structural to the success of our business activities. By fostering transparency, ensuring accountability, and maintaining high ethical standards across our value chain, we create a strong foundation for sustainable growth and stakeholder confidence.

As outcome of the 2024 double materiality assessment, 14 material topics were identified from the total number of sustainability topics assessed during the consultation process. CRS topics were considered material if:

• It was considered material from an impact materiality perspective.
• It was considered material from a financial materiality perspective.
• It was considered material from both perspectives, which are considered the most critical material topics.

Double Materiality Matrix: Below we present the list of material topics/ sub-topics by scope:

Scope	Material Topics
Environment	• Climate change • Sustainable mobility • Contribution to the energy transition
Social	• Health and safety (own workforce and value chain) • Training and skills development (own workforce and value chain) • Attractiveness and retention (own workforce and value chain) • Cybersecurity, data protection and privacy • Customer satisfaction • Digital and technological inclusion
Governance	• Business ethics and regulatory compliance, Company governance • Due diligence and evaluation of suppliers and subcontractors

Among these 14 material topics, 9 were identified as critical by the double materiality analysis, these were:

• Cybersecurity, data protection and privacy
• Health and safety (own workforce)
• Health and safety (value chain)
• Training and skills development (own workforce)
• Training and skills development (value chain)
• Attractiveness and retention (own workforce)
• Attractiveness and retention (value chain)
• Climate change
• Sustainable mobility
• Contribution to the energy transition

List of material topics for each ESRS standard:

Scope	Standard	Material Topic
Environment	ESRS E1	• Climate change • Sustainable mobility • Contribution to the energy transition
Social	ESRS S1	• Health and safety for employees (own workforce) • Training and skills development (own workforce) • Attractiveness and retention (own workforce)
	ESRS S2	• Health and safety for subcontractors • Training and skills development (value chain) • Attractiveness and retention (value chain)
	ESRS S4	• Cybersecurity, data protection and privacy • Customer experience and satisfaction • Digital and technological inclusion
Governance	ESRS G1	• Business ethics and regulatory compliance, Company governance • Due diligence and evaluation of suppliers and subcontractors

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3.1.4.4. Material sustainability-related impacts and risks

As shown in the matrix on next page, we have identified 14 sub-topics as material to Solutions30. Each material ESRS topic is detailed in the following subchapters (3.2, 3.3 and 3.4), where we specify the subtopics related to our material impacts, risks, and opportunities, such as climate change mitigation, climate change adaptation, health and safety, and more. Brief descriptions of the material impacts, risks, and opportunities, along with further details on how we address their effects, are provided in the tables included in the subchapters “3.2. Environment,” “3.3. Social” and “3.4. Governance.”

Across the tables in subchapters 3.2, 3.3 and 3.4, we also indicate whether the impacts and risks are within our own operations or along the value chain. Additionally, we specify whether the impacts are positive or negative. Impacts are considered actual unless explicitly noted as potential.

In the 2024 materiality assessment, the scoring of impacts and risks incorporated mitigation actions that are already integrated into our daily operations to reduce or mitigate negative impacts or risks. As a result, the impacts and risks presented in the tables reflect the residual impact or risk after these mitigation efforts.

3.1.4.5. Stakeholders’ identification and mapping

In 2023, Solutions30 completed the “ESG Project,” a key initiative with several objectives, one of which was identifying the stakeholders most relevant to the Group’s activities. This project was overseen by the Group Head of CSR and led by an external consultant with expertise in ESG matters. Stakeholders were classified based on three criteria: the extent of Solutions30’s impact on each stakeholder, their involvement in major issues relevant to Solutions30, and the frequency of their interaction with the Group. The matrix below presents the list of stakeholders, highlighting their relevance to Solutions30:

Key Stakeholders

Solutions30 maintains an ongoing dialogue with its key stakeholders (customers, employees, subcontractors, suppliers, investors, and social partners), recognizing that their involvement is essential for the company’s sustainable development. Our engagement policy defines the channels, frequency, and objectives of this dialogue, ensuring a structured, transparent, and value-driven approach. Feedback from stakeholders informs our materiality assessment, ESG priorities, and the continuous improvement of our practices.

Solutions30 | Annual Report 2025 67Solutions30 key stakeholders are subcontractors, customers, and employees. The company maintains active engagement with each group to ensure alignment with its values, compliance requirements, and strategic objectives. The most important stakeholders are the following:

• Customers
  Ongoing dialogue with customers is a cornerstone of Solutions30’s approach. Regular customer audits evaluate Solutions30 | Annual Report 2025 67 how services are provided, assess the company’s ability to meet customer needs, and analyze Solutions30’s role in supporting customers’ operations. These audits not only strengthen relationships but also help identify areas for improvement, uncover new opportunities, and guide potential strategic adjustments.

• Subcontractors
  Solutions30 maintains constant communication with its business partners, ensuring they adhere to the company’s code of conduct specifically designed for subcontractors. These partners are also required to meet Solutions30’s rigorous compliance standards. This collaboration upholds the integrity of the services delivered.

• Employees
  Solutions30 actively engages with its employees to support their well-being and professional growth. Key initiatives include:

  • Anonymous Surveys: Employees participate in anonymous surveys to measure job satisfaction, workplace environment quality, and overall well-being.
  • Training Programs: The company provides targeted training sessions to enhance operational quality, boost employee motivation, and facilitate upskilling.
• Internal Communication: The Solutions30 newsletter serves as a key communication channel, sharing company updates, fostering discussions, and promoting corporate social responsibility (CSR) initiatives across the Group and its subsidiaries.

• Labor Relations: Solutions30 maintains positive labor relations by working closely with employee representative bodies. Several agreements have been signed to support and protect employees, reflecting the company’s commitment to a collaborative workplace environment.

• Investors and Banks
  Solutions30 is in regular contact with investors through in person and virtual meetings held when revenue and earnings figures are published, roadshows, general meetings, permanent dialog, and financial reporting. There is a dedicated team that ensures transparent communication with investors and shareholders. Along with the CSR team, the investor relations team answers questions and information requests from non-financial ratings agencies. They also discuss environmental, social, and governance issues with potential investors, analysts, and shareholders.

• Training Agencies and Employment Agencies
  The quality of new hires is a top priority for Solutions30. To ensure this, the company has established strategic partnerships with employment agencies and training institutions across multiple European countries. These collaborations help Solutions30 attract and develop highly qualified talent to meet its operational and strategic needs.

While suppliers and technical certifying bodies are not part of the core stakeholder group, they play an essential role in the company’s overall ecosystem. Their contributions ensure the reliability and quality of the solutions provided by Solutions30.

Stakeholder Communication Channels

A comprehensive overview of the communication channels utilized to engage with various stakeholder groups is provided below. Solutions30 emphasizes transparency and collaboration to strengthen these relationships and foster mutual success.

Stakeholder	Communication Channel	Frequency of Communication
Customers	• Customer audits	Continuous
	• Dedicated Account Managers
	• Management and business reviews
	• Customer satisfaction evaluation surveys
	• CSR questionnaire responses
	• ESG status meetings
	• Social media channels to communicate updates and corporate news
Employees	• Onboarding Programs/ Training / S30 Academy e-learning platform	Continuous
	• Monthly newsletter
	• Social dialog
	• Employee satisfaction monitoring
	• Mentorship Programs
	• Yearly performance reviews
	• Social and Team-Building Events
	• Social media channels to communicate updates and corporate news
Subcontractors	• External business partner code of conduct	Continuous
	• On-site training
	• Subcontractor Portal (mySupplace)
	• Third-party due diligence
	• Performance Feedback and Reviews
Investors/ Financiers	• Dedicated Investor Relations Team	Continuous/ at least once per quarter
	• Financial and non-financial reporting
	• Financial Performance Updates (Quarterly)
	• Webcasts and presentations
	• Investor Conferences
	• General meetings
	• Corporate news (S30 website)
	• Social media channels to communicate updates and corporate news
Employment agencies and training institutions	• Partnerships	Continuous
	• Training
Suppliers	• External business partner code of conduct	Continuous
	• Third-party due diligence
	• Assessment and qualification of key suppliers (ISO 9001)
Technical certifiers	• Audits	Continuous/ at least once per year
	• Consulting

3.1.4.6. ESG Strategy

Solutions30 has based its new ESG strategy on the double materiality matrix presented at the section 3.1.4.4. The ESG strategy is central to our mission of driving sustainable value for all stakeholders. We are committed to reducing our environmental footprint, fostering a safe and inclusive work environment, and ensuring the integrity and transparency of our governance practices. Our approach is guided by global standards and frameworks, including our commitment to the United Nations Global Compact, the Sustainable Development Goals (SDGs), the Science-Based Targets initiative (SBTi), and the promotion and protection of human rights. Below we present the pillars and commitments of our ESG strategy:

• E Reduce the environmental impact of our activities and contribute to the energy transition
  1. Reduce the energy intensity and the environmental impact of our own operations
• Reduce the environmental impacts of our customers with solutions contributing to the energy transition, shift from fossil-based systems of energy production and consumption to renewable energy sources
• S Promote a secure, fulfilling and inclusive work environment
  1. Train and develop our employees, their skills and their career
  2. Promote diversity and equal opportunities and foster youth employment
  3. Ensure a safe and secure work environment for our employees and our subcontractors
  4. Improve our employer brand
• G Make Solutions30 a preferred and trusted partner, ensuring quality, security and integrity of our services
  1. Ensure due diligence for all partners
  2. Ensure an independent and qualified governance
  3. Conduct our business in an ethical and transparent way
  4. Guarantee customer satisfaction and make Solutions30 a preferred partner
  5. Guarantee cybersecurity and data protection for our stakeholders

In 2025, Solutions30 reaffirmed its commitment to the United Nations Global Compact, pledging to uphold and implement its ten principles within its sphere of influence while actively contributing to the advancement of the Sustainable Development Goals (SDGs). Comprehensive details about our engagement with the UN Global Compact and our contributions to the SDGs can be found in subsection “3.5. Our Commitments.”

3.1.5. ESG Objectives, targets and performance indicators

3.1.5.1. ESG Strategy Pillars and Commitments

As previously mentioned, Solutions30’s ESG strategy is grounded in three core pillars “Environment, Social, and Governance” each supported by specific commitments and measurable objectives. These pillars are interconnected, and the 2025 targets reflect a coherent framework designed to operationalize the company’s sustainability ambitions.

Environment: Our environmental commitments center on reducing the impact of our operations while actively supporting energy transition. Through a wide range of energy sector solutions, including solar plants, electric vehicle charging infrastructure (EVCs), smart meter deployment, and the modernisation and expansion of electricity distribution networks, we help increase grid capacity and enable the development of eco efficient Solutions30 | Annual Report 2025 69 technologies that depend on these improved energy systems. For 2025, we established a target directly related to climate change mitigation: the reduction of greenhouse gas (GHG) emissions intensity (tCO₂ per million euros of revenue, Scope 1 and 2). This target reflects a measurable and quantitative effort to align our operational practices with climate-related objectives. A second environmental target was also approved for 2025, focused on the energy transition. This target relates to increasing the percentage of revenue generated by activities internally classified as “Green Activities”, defined as operations aligned with the EU Taxonomy and eligible under its technical screening criteria. This reinforces our strategic commitment to expanding services that support the low-carbon transition. Together, these objectives demonstrate our quantitative commitment to integrating climate considerations into our operations. Progress toward these targets is supported by initiatives to improve energy efficiency across our activities, as well as by the deployment of solutions that enable our customers to advance along their own energy transition pathways, generating measurable environmental benefits both internally and externally.

Social: The social pillar prioritizes the development of human capital and workplace safety. Targets such as increasing training volume per employee per year and enhancing gender diversity in management and the supervisory board are directly tied to measurable outcomes in employee skill development and inclusion.Additionally, the objective of reducing the work accident severity rate (ISR) is a concrete measure of workplace safety, reinforcing the technical focus on risk management and compliance with occupational health standards. These efforts also align with commitments to secure and improve employment conditions for subcontractors. Governance: Governance commitments are centered on ensuring robust oversight, ethical conduct, and operational transparency. The 2025 objective of increasing the percentage of subcontractors registered on “mySupplace” directly supports the implementation of third-party due diligence and compliance controls. This platform facilitates document management and ensures alignment with regulatory requirements. Other governance goals, such as strengthening cybersecurity and improving customer satisfaction, are quantitatively assessed and align with commitments to integrity and service quality. The alignment between the 20 targets and the ESG strategy pillars ensures a structured approach to implementing sustainability initiatives. Each target is designed with measurable outcomes, providing a technical framework for tracking progress and ensuring that the company’s commitments are systematically addressed and fulfilled.

3.1.5.2. ESG KPI Results for 2025

Our strategy is based on a structured objective-setting methodology, which clearly defines objectives and annual targets, as well as the corresponding performance indicators and metrics used for their monitoring and control. While ensuring that several key performance indicators remain consistent over time—such as average training hours per employee, injury severity rate, and subcontractor registration rate thus enabling trend analysis and performance tracking, Solutions30 also seeks to annually expand and diversify its KPI framework. This approach allows for a broader and more comprehensive assessment of ESG performance.

Accordingly, in January 2025, seven key ESG objectives and targets were established and approved for the year, representing an increase of two objectives compared to those defined for 2024. A new environmental objective was introduced, aligned with our ambition to increase the share of revenue generated by “green” activities and services related to the energy transition. In addition, a new social objective was added, aimed at enhancing ESG awareness and engagement across all employees of the Group.

For each of these objectives, specific targets and performance indicators were defined at both Group level and country level across all geographies in which the Solutions30 Group operates. These targets were adapted to local contexts while maintaining a strong commitment to high standards and the continuous improvement of our sustainability performance. A rigorous monthly monitoring process enabled the Group to assess the status of each objective, analyze performance trends, and evaluate the risk of non- achievement within the established timeframe. This methodology allowed for the early identification of interim KPI results that were not fully aligned with defined targets and, where necessary, the timely development and implementation of corrective action plans to ensure the achievement of all ESG objectives by year-end.

In summary, and thanks to the collective efforts of both local teams and the Group as a whole, Solutions30 successfully achieved, for the second consecutive year, all ESG objectives established and approved for 2025. In several cases, performance exceeded the targets in a clear and significant manner. This outcome reflects a strong sense of accomplishment and provides a solid foundation for future progress, while also reinforcing our awareness that further ambition is both possible and necessary. The Group therefore remains committed to continuously challenging itself to identify and implement solutions that respond to internal expectations, customer requirements, and existing and emerging regulatory obligations in the short and medium term.

The following table presents the seven main ESG objectives established for the Group for 2025, together with the results achieved and the corresponding positive or negative deviations from the defined targets.

Solutions30	Annual Report 2025
Objective/ Commitment	Target definition	Unit	2025 Target	2025 Results	Deviation from Target
E Reduce the environmental impact of our activities.	Reduce GHG emissions intensity (Scopes 1&2) by 8.8% compared to 2024	tCO2e/M€	26.42	26.33	(0.3)%
Contributing to a low- carbon economy by delivering solutions that drive and support the energy transition.	Increase the percentage of Green Activities* of Solutions30 revenue in 19% compared to 2024	%	15.2%	18.0%	18.4%
S Ensure a safe and secure work environment	Keep the injury severity rate (ISR) below than 0,65 . (**)		0.65	0.58	(10.8)%
Train our employees, developing their skills to advance their careers	Have at least 25 hours of training per employee during the year	hours	25	27.8	11.2%
Ensure that at least 80% of active employees participate in ESG awareness sessions		%	80%	81%	1.3%
G Promote diversity and equal opportunities	Ensure at least 25% of women in management positions.	%	25%	26.7%	6.8%
G Subcontractors registration in mySupplace	At least 95% of subcontractors registered in mySupplace	%	95%	99%	4.2%

() Green activities = eligible and aligned with the EU Taxonomy
(**) The injury severity rate is calculated using the following formula: ISR = (number of days lost due to work-related accidents) / (total number of worked hours) x 1000.

2025 Objective result analysis

■ GHG emissions intensity (Scopes 1&2)

The reduction target set for 2025 was an 8.8% decrease in Scope 1 and 2 GHG emissions intensity (tCO₂e/M€) compared with 2024. This target was disclosed in our 2024 Annual Report. In 2025, we achieved a 9.6% reduction relative to the 2024 baseline, thereby exceeding the established target. This performance primarily reflects the implementation of measures included in the Group’s decarbonisation plan, particularly:
* the gradual electrification of the vehicle fleet,
* the use of biofuels such as HVO (Hydrotreated Vegetable Oil),
* the optimization of technician travel routes, and
* the ongoing awareness efforts directed at all employees to reduce our environmental footprint, with a particular focus on lowering our carbon emissions.

A further contributing factor was the increased share of activity from the “Energy” business line within the Group’s overall revenue. On average, the GHG emissions intensity associated with “Energy” activities is lower than that of “Connectivity” activities. As a result, for an equivalent level of revenue, “Energy” operations tend to generate fewer GHG emissions than “Connectivity” operations, contributing to an overall reduction in carbon intensity.

In line with our SBTi validated near term targets, from 2026 onwards Solutions30 will transition from relative emissions reduction targets to absolute emissions reduction targets. Although we will continue to monitor our carbon intensity KPI (tCO₂e/M€), no relative intensity reduction targets will be set going forward, as our decarbonisation strategy will be driven by absolute emission reductions, in accordance with SBTi guidance.

■ Injury severity rate (ISR)

The injury severity rate is calculated using the following formula: ISR = (number of days lost due to work-related accidents) / (total number of hours worked) x 1000. When calculating the number of days lost, holidays and weekends are not taken into account. Only days lost due to accidents occurring in the calendar year 2025 are considered in the calculation.

Since 2021, the injury severity rate has been steadily decreasing (as shown in the graph below), indicating a year-over-year reduction in the severity of workplace accidents. This positive trend is the result of the health and safety strategy and policy, as well as a series of actions and initiatives implemented by all entities within the Group to improve health and safety conditions for all workers, particularly our technicians who perform fieldwork. The key factors contributing to the reduction in workplace accidents were as follows:

Solutions30 | Annual Report 2025 71

• Continuous improvement of our Health and Safety Management Systems, through ISO 45001 and VCA certifications, the last one applicable only to companies located in Belgium and the Netherlands.
• Focus on prevention through technical training and health and safety training. As shown in the table under section 3.1.5.2. In 2025, the S30 Group ensured an average of more than 27 hours of training per employee, with Technicians being the professional group that received the highest volume of training throughout the year, approximately 60% of the total training volume provided in 2025.
• Inspection, monitoring, and internal field audits, conducted by the Occupational Health and Safety teams.
• Improvement plans focused on the investigation and analysis of workplace accidents, incidents and near- misses.

The graph below shows the historical annual trend of the injury severity rate at Group level:

In summary, the 2025 target of achieving an Injury Severity Rate (ISR) below 0.65 was clearly exceeded. On average, both the number of lost days and the severity of incidents recorded in 2025 were lower than those observed in 2024.

■ Increase training

Training hours are calculated by considering all awareness-raising and training activities provided to employees. The following key aspects are included in the calculation:
* Types of Training: Both internal (delivered by S30 Group members) and external training (provided by external entities such as consultants, universities, customers, etc) are included.
* Formats: Training sessions can occur in-person, remotely (e.g., via Teams), or through e-learning platforms and are considered regardless of whether they take place during or after working hours.Content Areas: All training areas are accounted for, including technical skills, IT, languages, quality, environment, health and safety, eco-driving, GRC, ESG, cybersecurity and others. • Evidence Requirements: For training to be recorded, evidence such as certificates, attendance lists, or platform reports must be provided. The evidence should include details like the training name, date(s), participants, trainer, duration, and in some cases, signatures. This comprehensive approach ensures that all relevant training efforts are accurately reflected in the ESG data collection process. The graph below shows the historical data of training hours per employee per year, at Group level: 3 In summary, the 2025 target of delivering a minimum of 25 hours of training per employee per year was surpassed. For the fourth consecutive year, Solutions30 maintained an average annual training volume of more than 25 hours per employee.

■ Percentage of women in management positions

At Solutions30, we remain firmly committed to promoting diversity and inclusion across all levels of the organisation. A key objective within our diversity strategy is to ensure that at least 25% of management positions are held by women. While this goal is ambitious, we recognize the structural challenges associated with our sector. Historically, the technical fields in which Solutions30 operates have been predominantly male dominated, resulting in a significantly higher number of male technicians compared with female technicians. Given that many middle management roles are filled internally by promoting experienced technicians or supervisors, the pool of potential female candidates has traditionally been limited. This context continues to influence the pace at which gender balance can be achieved in management roles. To address these challenges and reinforce our commitment to equal opportunities, the Group established the FemmesForce initiative. This dedicated team develops and implements projects aimed at increasing the representation of women within Solutions30. Their efforts include promoting awareness among women about career opportunities in our industry, challenging stereotypes associated with technical professions, and encouraging greater participation in these fields. One of FemmesForce’s flagship initiatives is the Mentoring Programme, created to strengthen the skills, confidence and career development of women across the Group. The program supports female employees in expanding their capabilities, preparing for leadership roles, and progressing within the organisation. Through initiatives such as the Mentoring Program and other targeted actions led by FemmesForce, Solutions30 continues to take meaningful steps toward building a more Solutions30 | Annual Report 2025 72 diverse and equitable workplace. These efforts contribute to fostering an environment where women can envision and pursue long-term, rewarding careers in technical, supervisory and management positions. For 2025, the Group set a minimum threshold of 25% women in management positions. This target was achieved and surpassed, with women representing an average of 26.7% of management roles during the year.

■ Percentage of subcontractor’s registration in mySupplace

Solutions30 has developed an innovative online platform, mySupplace, designed to support sourcing, onboarding, and staffing activities across the Group. The platform plays a central role in ensuring consistent and standardized compliance management at the European level. Beyond its onboarding function, mySupplace serves as a continuous compliance‑management tool throughout the entire duration of each subcontractor’s contract. By centralizing documentation and workflows, the platform enables effective oversight of all critical compliance processes, including third‑party due diligence, validation of mandatory subcontractor documentation, and ongoing monitoring of contractual requirements. Our objective is to ensure that all subcontractors working with the Group are fully registered on mySupplace, thereby strengthening transparency, improving operational control, and ensuring full alignment with the Group’s compliance standards. Since 2023, the Group has set annual quantitative targets for the registration of active subcontractors on the platform. For 2025, a minimum target of 95% of active subcontractors registered on mySupplace was established. Although the finalization of the registration process depends on subcontractor engagement, Solutions30 actively supports them by providing ongoing assistance. The Compliance team maintains regular communication with subcontractors to facilitate timely and complete registration. By the end of 2025, the Group achieved a registration rate of 99.1%, and the annual average monthly registration rate reached 98.8%, thereby surpassing the target set at the beginning of the year. For the calculation of this indicator, “active subcontractors” are defined as subcontractors currently working with Solutions30 or those who have submitted invoices to the Group within the previous three months.

3.1.5.3. ESG Objectives, targets and KPIs for 2026

Building on our ESG strategy and principles, and taking into account the Group’s financial and operational outlook, Solutions30 has defined a comprehensive set of ESG objectives, targets and performance indicators for 2026. These objectives are aligned with our commitment to continuous improvement in sustainability performance.

From an environmental perspective, our primary focus remains on reducing our carbon footprint, strengthening our contribution to the renewable energy sector, and increasing the share of activities that are eligible or aligned with the EU Taxonomy for climate change mitigation. As noted earlier, from 2026 onwards Solutions30 will adopt absolute GHG emissions reduction targets only, in line with our SBTi‑validated near‑term targets. While no new relative carbon‑intensity reduction targets will be established, we will continue to monitor our carbon intensity indicator (tCO₂e/M€) as an internal management KPI. Monitoring both absolute emissions and carbon intensity provides complementary insights into our decarbonisation performance. Absolute emissions reflect the real environmental impact of our activities and constitute the metric required by SBTi. In parallel, tracking the relative indicator (tCO₂e/M€) allows us to understand how 3 efficiently we are decarbonizing as the business evolves. For example, periods of revenue growth or contraction may influence intensity figures differently from absolute emissions, enabling a more nuanced interpretation of trends and drivers of performance. The absolute GHG emissions reduction target defined for 2026 represents a further decrease relative to 2023, our base year. This target will be reassessed if any merger or acquisition activity requires a recalculation of the base year and corresponding emissions inventories. Further details on our near‑term GHG emissions targets and decarbonisation roadmap are provided in Subchapter 3.2.

In the social domain, our priorities include preventing work-related accidents by optimizing our health and safety management systems, supported by ISO 45001 and VCA certifications, and by strengthening internal controls and audit mechanisms. In parallel, we continue to invest in employee qualification, training and awareness initiatives, complemented by actions to promote equal opportunities and diversity across the Group. In this context, we have maintained all KPIs defined for 2025 while updating the corresponding targets for 2026. Additionally, and following the positive outcomes achieved in 2025, we have introduced two new KPIs related to our commitment to “Train our employees, developing their skills to advance their careers.” Specifically, we expanded the set of training related targets to cover three areas considered essential to the continuous improvement of our ESG performance: ESG Awareness, Eco Driving and Safe Driving, and Cybersecurity. More detailed information on our social performance is provided in Subchapter 3.3.

In the area of governance, the Group remains firmly committed to strengthening compliance among subcontractors and business partners. These efforts are essential to upholding transparency and maintaining the confidence of our clients, shareholders and investors. Further information on our governance related performance can be found in Subchapter 3.4.

The table below summarizes the ESG objectives and targets defined and approved for 2026 at Group level, ensuring consistency and alignment across all entities within Solutions30.

Solutions30 | Annual Report 2025 73

Strategy Pillar / Commitment	Objectives for 2026 - Group Level	2026 Target/ Threshold
E Reduce the environmental impact of our activities.	Reduce absolute GHG emissions (Scope 1) by 27% compared to 2023.	22 467 tCO2e
	Reduce absolute GHG emissions (Scope 2) by 21% compared with 2023 (Market‑based approach and calculation method)	630 tCO2e
Contribut to a low-carbon economy by delivering solutions that drive and support the energy transition.	Increase the percentage of Green Activities* of Solutions30 revenue in 5.5% compared to 2025 *Green activities = eligible and aligned with the EU Taxonomy	19%
S Ensure a safe and secure work environment	Keep the injury severity rate (ISR) below than 0.65	0.65
Train our employees and develop their skills to advance their careers	Have at least 25 hours of training per employee during the year	25h
	Increase the number of active employees with ESG training to at least 85%.	85%
	Ensure that at least 70% of active employees (with company car) attend the Eco-driving and Safe driving training.	70%
	Ensure that at least 70% of active employees (staff and managers) attend the cybersecurity training.

3.1.5.6. S30 Group’s commitment to ESG and GRC objectives in executive remuneration

Solutions30 Group places significant importance on ESG objectives, demonstrating its commitment by linking a substantial portion of top executives’ remuneration to the achievement of these goals. To better align management interests with the ESG strategy, the Supervisory Board has tied the variable remuneration of Management Board members to the attainment of the ESG targets. Specifically, 5% of this variable remuneration depends on meeting environmental and social goals, while another 5% is tied to governance, risk, and compliance (GRC) objectives, as detailed in item 4.4. These same principles apply to the variable remuneration of country managers. In summary, a minimum of 10% of the variable remuneration for both the Management Board and Country Managers is directly linked to the successful fulfillment of the Group’s established and approved ESG and GRC targets, underscoring the S30 Group’s unwavering commitment to sustainable and responsible governance.

Solutions30 | Annual Report 2025 74

ENVIRONMENT

METRIC	VALUE	CHANGE
ELECTRICITY CONSUMPTION	3,257,632 kWh	(+0.6%)
ENERGY INTENSITY PER M€ OF REVENUE	3,658 kWh/ M€ Revenue	(+6.6%)
ENERGY INTENSITY PER M€ OF REVENUE	106.31 MWh /M€ Revenue	(-9.3%)
GHG EMISSIONS (Scope 1+2+3)	126,614 tCO2e	(-11%)
GHG INTENSITY EMISSIONS (Scope 1+2+3)	138.38 tCO2 e/ M€ Revenue	(-3.2%)
% OF REVENUE ELIGIBLE AND ALIGNED WITH EU TAXONOMY	18%	(+34%)

(Percentage of change compared to 2024)

NOTE: The Group figures shown above exclude the UK data and the Spain Connectivity activity.

Solutions30 | Annual Report 2025 75

3.2 Environment

3.2.1 Environmental Taxonomy

The Group’s business model aims to create a more sustainable economy. As part of its activities, Solutions30 provides its customers with access to technologies that will reduce their environmental impact and increase their energy efficiency. Smart houses, connected objects, and smart cities all improve user experiences and make it significantly easier to use resources more efficiently. The widespread adoption of broadband internet would not have been possible without the field technicians who handle in-home installations. Broadband fiber to the home and next-generation networks provide better connectivity, leading to gains in efficiency and less resource consumption. Installing smart appliances and meters in homes helps to further reduce household energy consumption. Electric vehicles need charging stations and Solutions30 is providing the qualified technicians to install them. The Group also provides all the maintenance and management that these technologies require. Solutions30 is thus contributing to Goal #13 – Climate Action of the United Nations Sustainable Development Goals. According to figures from the environmental taxonomy below, 18 % of group revenue is aligned with the taxonomy’s climate mitigation target. Reuse and refurbishment activities contribute to Sustainable Development Goal #12 – Sustainable Consumption and Production.

3.2.1.1 Solutions30 Environmental Taxonomy

The European Union taxonomy is a system for scoring sustainable economic activities on their environmental impact. The creation of an environmental taxonomy was one of the ten items on the March 2018 European Union Action Plan on Financing Sustainable Growth. The June 2020 Taxonomy Regulation aims to classify sustainable activities based on the following six environmental goals:

• Climate change mitigation
• Climate change adaptation
• Conservation of resources and the transition to a circular economy
• Protection of biodiversity and ecosystems
• Conservation and protection of water and marine resources
• Pollution prevention and control

In June 2021, the European Commission published the European Climate Law, including a list of activities that are eligible for the taxonomy for mitigating and adapting to climate change. In June 2023, the European Commission published the delegated act on the environment, establishing the list of activities eligible for the taxonomy under the four environmental objectives: water, circular economy, pollution, and biodiversity.

For 2022, the Group published its key performance indicators (KPIs) for the activities eligible under and aligned with the goals of mitigating and adapting to climate change. These KPIs included the proportions to total group revenue of the revenue from these activities, any related qualified investments and operational expenses, and any other investments (for example, to bring an eligible activity more in line with the taxonomy), and other operating expenses related to equipment listed in the 3 taxonomy. Since 2023, they were asked to publish indicators for eligible and aligned activities under the 6 goals.

a) Activities eligible for the taxonomy

Most Solutions30 activities have been analyzed and mapped. For each activity, the descriptive documents needed for the final evaluation were collected and archived. To identify eligible activities, Solutions30 selected the following categories set forth in the delegated regulation on climate change mitigation and adaptation as Solutions30 activities that are eligible under the taxonomy and for which Solutions30 has an offer. Solutions30 has not identified any eligible activities in the environmental delegated act:

• 7.4 Installation, maintenance, and repair of electric vehicle charging stations in buildings (and in parking areas attached to buildings) (Solutions30 charging station services)
• 7.5 Installation, maintenance and repair of instruments and devices for measuring, regulating, and controlling building energy efficiency (Solutions30 smart meter services)
• 7.6 Installation, maintenance, and repair of renewable energy technologies (Solutions30 solar panel services)
• 4.9. Electricity transmission and distribution

Investments and operating expenses incurred by these activities, which were eligible according to the European Commission’s instructions, were themselves considered taxonomy-eligible. As for 2024, the Group has identified a number of investments in activities not operated by Solutions30, which may themselves be eligible for the environmental taxonomy, in particular rights of use for leasing (Activity “6.5. Transport by motorcycle, passenger car and light commercial vehicle” over several years of hybrid and electric vehicles. Judgments: After analyzing the energy business, it was decided not to consider electrical network installation and renovation services as part of the electrical charging station and solar panel installation activities. In fact, although indirectly linked to the installation of electric charging stations and solar panels, the installation and renovation of the electrical network does not meet the definition set out in the delegated acts.

Solutions30 | Annual Report 2025 76

Ineligible activities:

As indicated in note 3 “Revenue” to the 2025 consolidated financial statements, the Group generates its revenue through the provision of digital equipment installation and maintenance services in its three lines of business: Connectivity, Energy, and Technology Solutions. The clearly defined and uncomplicated segmentation of the Connectivity (telecom-type services) and Technology (which groups together money and IT-type services) businesses means that they do not need to be qualified at the source. The activities mentioned in the delegated acts for climate change mitigation, adaptation to climate change, biodiversity, circular economy, pollution, and water have been excluded from eligible activities. For the energy business, which mainly involves the installation and maintenance of smart electricity meters, charging stations, and solar panels, only eligible activities 7.4, 7.5 and 7.6 were selected.

b) Revenue for 2025

Revenue for taxonomy-aligned activities

Eligible revenue within the meaning of the European Taxonomy are determined on the basis of group revenue as described in the delegated acts. In 2024 and 2025, after an eligibility analysis of its activities in 2021, Solutions30 studied the conditions to determine for each activity whether it could be qualified as an “activity aligned with the environmental taxonomy” under the goal of mitigating and adapting to climate change. The three necessary conditions were:

Condition 1: Contributes substantially to the goal of mitigating climate change by meeting a list of technical criteria pre-established for each activity or corresponding to specific products and services.
Condition 2: Does not cause significant harm to other environmental goals of the taxonomy.
Condition 3: Respects provisions for minimum human rights protections, both in terms of labor rights and of business ethics.

This analysis showed that all three conditions are met for the three eligible activities, and therefore these three activities are aligned with the taxonomy and can be qualified as truly sustainable.

Analysis of conditions:

Condition 1: With regard to condition 1, the Group has verified that its offering in eligible activities meets the criteria of substantial contribution. This is the case for its electric vehicle charging station installation, maintenance, and repair business in activity 7.4, for its smart metering business in activity 7.5, for solar power systems in activity 7.6 to mitigate climate change as well as its activity 4.9. Electricity transmission and distribution. As these four activities are enabling activities, the only technical examination criterion is compliance with the activity definition.Solutions30 verified compliance with the definition for all four activities, and thus validated the substantial contribution criterion. For the criteria of substantial contribution to climate change adaptation, the only technical review criterion is that the implementation of physical and non-physical solutions (“adaptation solutions”) substantially reduce the most significant physical climate risks that are important for this activity. Based on a rigorous assessment of climate-related risks and vulnerability, no physical climate risks that are important for the activity were identified, therefore Solutions30 complied with the definition and thus validated the substantial contribution criterion.

Condition 2: Concerning the technical review criteria for climate change mitigation to determine whether the economic activity causes significant harm to other environmental objectives. Through a local risk and vulnerability analysis, the Group has ensured that the other five objectives of the taxonomy are not adversely affected. In particular, a rigorous assessment of climate-related risks and vulnerability, which is the only technical criterion to be met. On this basis, no significant physical climatic risks for the business have been identified.

Concerning the technical review criteria for climate change adaptation to determine whether the economic activity causes significant harm to other environmental objectives. The Group was unable to validate the technical review criteria, as there is no procedure in place to identify the proportion of activities that do or do not meet the technical criterion “The building is not intended for the extraction, storage, transport, or manufacture of fossil fuels.”

Condition 3: For the third condition, the Group met the requirements and minimum guarantees of the Taxonomy Regulation and the Sustainable Finance Platform report on human rights, corruption, competition, and taxation. Solutions30 is firmly committed to protecting the rights of all those involved in its operations, whether directly or indirectly affected, and to promoting sustainability through responsible business practices. The Group has adopted a Human Rights Policy, integrating its principles into its activities, policies, and systems to ensure their alignment with the following international and European legal frameworks:
* The International Bill of Human Rights, including:
* The Universal Declaration of Human Rights
* The International Covenant on Civil and Political Rights
* The International Covenant on Economic, Social, and Cultural Rights
* The fundamental conventions of the International Labor Organization (ILO), in particular Conventions Nos. 29, 87, 98, 100, 105, 111, 138 and 182, as well as the Declaration on Fundamental Principles and Rights at Work
* The United Nations Convention on the Rights of the Child
* The European Convention on Human Rights

Solutions30 also applies the principles of leading voluntary corporate responsibility standards, including the United Nations Global Compact, the OECD Guidelines for Multinational Enterprises, the ILO Tripartite Declaration, and the UN Guiding Principles on Business and Human Rights. As a signatory of the United Nations Global Compact, Solutions30 is committed to respecting its ten fundamental principles, which cover:
* Human rights
* Labor standards
* Environmental responsibility
* The fight against corruption

This commitment also extends to aligning its activities with the United Nations’ Sustainable Development Goals (SDGs), including:
* SDG 3: Good Health and Well-Being
* SDG 4: Quality Education
* SDG 8: Decent Work and Economic Growth
* SDG 9: Industry, Innovation, and Infrastructure
* SDG 12: Responsible Consumption and Production
* SDG 13: Climate Action

Solutions30 confirms its compliance with Article 18 of EU Regulation 2020/852, relating to the European Taxonomy, guaranteeing that its activities not only contribute to environmental objectives, but also respect essential social and ethical standards. Internally, Solutions30 is guided by its Human Rights Policy, Group Code of Conduct and Business Partner Code of Conduct, which define expectations in terms of human rights, non-discrimination, workplace safety, working hours, and fair wages. Suppliers and partners must adhere to these principles, or they may face corrective measures or termination of the business relationship.

Implementing ESG principles at Solutions30

To ensure effective compliance with these principles, Solutions30 has defined three main actions:
* Internal audits: The aim of these audits is to verify that the Group’s main entities comply with all internal rules, processes, and procedures. They are based on a detailed evaluation grid covering various topics, including those related to Minimum Guarantees (Article 18 of EU Regulation 2020/852). These audits are carried out by a compliance team, under the coordination of the Group Head of Risk and Compliance.
* Third-party due diligence: Solutions30 has a team dedicated to monitoring the compliance of all current and potential subcontractors and business partners. All subcontractors are screened for compliance (checking for any infringements or negative alerts). If the subcontractor is approved, they are registered on the “mySupplace” platform, where the required legal documents and the execution of the subcontracting agreement incorporating the Business Partner Code of Conduct are verified.
* Governance, Risk and Compliance (GRC) training: Solutions30 requires all its employees to complete GRC training as soon as they join the company. Refresher training sessions are organized periodically to reinforce the importance of these topics.

Through these initiatives, Solutions30 is committed to building a sustainable, ethical, and inclusive future, with a positive impact on society and the environment.

Related documents

For more information, please consult our policies and codes of conduct available on the website:
* Human Rights Policy
* Code of Conduct
* Business Partner Code of Conduct

Revenue from the activity of installing, maintaining, and repairing electric charging stations for vehicles (Activity 7.4), revenue from the energy efficiency regulation and control instrument activity (Activity 7.5), revenue from the “Installation, maintenance, and repair of renewable energy technologies” activity (Activity 7.6) and activity 4.9. Electricity transmission and distribution made up the total taxonomy aligned revenue. This taxonomy aligned revenue amounted to €160.5 million and accounted for 18 % of total revenue, which was €892.4 million in 2025, compared to 13.2% of revenue in 2024. The increase is due to strong growth in Electricity transmission and distribution.

c) Taxonomy-aligned operating expenses for 2025

The Group used the exemption for reporting eligible operating expenses because they were not significant at the Group level, with the denominator of eligible operating expenses being €21.7 million, or 2.6% (2.0% in 2024) of total 2025 consolidated group operating expenses of €846.4 million. As a service company, the majority of operating expenses are purchases and subcontractor costs, and personnel expenses (including taxes and related payments) on customers. As a result, the Group considers that eligible opex, consisting mainly of short-term leases and maintenance and repair contracts, are insignificant in relation to its business model. Eligible operating expenses are determined on the basis of the following direct non-capitalized costs: research and development, building renovation, short-term leases, maintenance and repairs, and any other direct expenditure relating to the ongoing upkeep of tangible assets by the company or a third party.

d) Taxonomy-aligned investments in 2025

• Investments (“Capex” in the table below) are also aligned with the taxonomy, and represent €1.7 million.
• The Group examined the investments related to non- aligned activities, but that could be included in the investments aligned with the taxonomy. In this regard, the Group recognizes as taxonomy-aligned investments those related to hybrid and electric vehicles (Activity “6.5. Transport by motorcycles, passenger cars, and light commercial vehicles”) that meet the criteria for substantial contribution, particularly concerning CO2/km emissions. These investments primarily correspond to rights of use for electric and hybrid vehicles under lease agreements (Activity “6.5. Transport by motorcycles, passenger cars and light commercial vehicles”), amounting to €1.7 million in 2025.
• For the year 2025, the Group’s total investments aligned with the climate change mitigation objective amounted to €1.7 million, representing 5.3% of total Group investments of €33.1 million (compared to 14.49% in 2024).

Eligible Capex within the meaning of the European Taxonomy is determined on the basis of total investments in tangible and intangible assets during the year under review, before depreciation, amortization, and revaluations associated with taxonomy-eligible activities. The percentage of Solutions30’s Capex relating to eligible activities is determined by dividing the sum of the capex of eligible activities within the meaning of the European Taxonomy by the sum of the consolidated Capex presented in notes “11.1 Rights of use” amounting to €21.3 million, “14.2 Other intangible assets” amounting to €7.7 million and “14.3 Property, plant and equipment” amounting to €4.1 million.

Methodology:

for each activity, the descriptive documents needed for the final evaluation were collected and archived. The Group did not calculate alternative performance indicators. In line with regulations, the process was carried out for the 6 goals, based on the alignment criteria. The Group determined that its activities and investments contribute to climate change mitigation, but not to climate change adaptation.The other 4 goals are not applicable to eligible group activities. Solutions30 | Annual Report 2025 79

Key performance indicators are listed in the tables below.

3 KPI 1 – Revenue

| Fiscal | 2025 | 2025 | Substantial contribution criteria | Absence of significant harm criteria (“DNSH criteria”) | Economic activity | Code(s) | Revenue | Share of revenue, year N | Climate change mitigation | Climate change adaptation | Water | Pollution | Circular economy | Biodiversity | Climate change mitigation | Climate change adaptation | Water | Pollution | Circular economy | Biodiversity | Minimum guarantee | Share of aligned (A.1.) or eligible for (A.2.) the taxonomy, year N-1 | Category (enabling activity) | Category (transition al activity) |
| :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- |
| | | | | | | | M€ | % | YES, NO, N/EL | YES, NO, N/EL | YES, NO, N/EL | YES, NO, N/EL | YES, NO, N/EL | YES, NO, N/EL | YES/NO | YES/NO | YES/NO | YES/ NO | YES/ NO | YES/ NO | YES/ NO | % | | |
| A. TAXONOMY-ELIGIBLE ACTIVITIES | | | | | | | | | | | | | | | | | | | | | | | |
| A.1 Activities that are environmentally sustainable (aligned with the taxonomy) | | | | | | | | | | | | | | | | | | | | | | | |
| 4.9. Electricity transmission and distribution | CCM | 4.9 | €50.9 M | 7.0% | YES | YES | N/EL | N/EL | N/EL | N/EL | YES | YES | YES | YES | YES | YES | YES | 1.8% | E | |
| 7.4 Installation, maintenance and repair of electric vehicle charging stations inside of buildings (and in parking garages attached to buildings) | CCM | 7.4 | €12.8 M | 1.4% | YES | YES | N/EL | N/EL | N/EL | N/EL | YES | YES | YES | YES | YES | YES | YES | 1.4% | E | |
| 7.5 Installation, maintenance and repair of instruments and devices for measuring, regulating, and controlling building energy efficiency | CCM | 7.5 | €38.2 M | 4.3% | YES | YES | N/EL | N/EL | N/EL | N/EL | YES | YES | YES | YES | YES | YES | YES | 5.4% | E | |
| 7.6 Installation, maintenance and repair of technologies related to renewable energy | CCM | 7.6 | €58.6 M | 6.6% | YES | YES | N/EL | N/EL | N/EL | N/EL | YES | YES | YES | YES | YES | YES | YES | 4.6% | E | |
| Revenue from environmentally sustainable activities (aligned with the taxonomy) (A.1) | | | €160.5 M | 18.0% | 18.0% | 0% | 0% | 0% | 0% | 0% | YES | YES | YES | YES | YES | YES | YES | 13.2% | | |
| Of which enabling | | | €160.5 M | 18.0% | 18.0% | 0% | 0% | 0% | 0% | —% | YES | YES | YES | YES | YES | YES | YES | 13.2% | E | |
| Of which transitional | | | 0M€ | 0% | | | | | | | YES | YES | YES | YES | YES | YES | YES | 0% | | |
| A.2 Activities eligible for the taxonomy but not environmentally sustainable (not aligned with the taxonomy) | | | | | | | | | | | | | | | | | | | | | | | |
| EL;N/EL | EL;N/EL | EL;N/EL | EL;N/ EL | EL;N/ EL | EL;N/ EL | | | | | | | | | | | | | | | | | |
| Revenue from activities eligible for the taxonomy but not environmentally sustainable (not aligned with the taxonomy) (A.2) | | | €0 M | —% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | | | | | | | | | | |
| A. Revenue from taxonomy-eligible activities (A.1+A.2) | | | €160.5 M | 18.0% | 18.0% | 0% | 0% | 0% | 0% | 0% | | | | | | | | 13.2% | | |
| B. TAXONOMY NON-ELIGIBLE ACTIVITIES | | | | | | | | | | | | | | | | | | | | | | | |
| Revenue from activities not eligible for the taxonomy | | | €731.9 M | 82.0% | | | | | | | | | | | | | | | | | | | |
| TOTAL | | | €892.4 M | 100.0% | | | | | | | | | | | | | | | | | | | |

$^3$ The portion of Solutions30 revenue from eligible activities is calculated by dividing the total revenue from eligible activities as described in section “3.2.6 Environmental taxonomy” and using the definition of the European Taxonomy by consolidated revenue (established using IFRS 15) as presented in “Note 3 - Revenue.”

Solutions30 | Annual Report 2025 80

3 KPI 2 – Capex

| Fiscal | 2025 | 2025 | Substantial contribution criteria | Absence of significant harm criteria (“DNSH criteria”) | Economic activity | Code | CAPEX | Percent age of capex, year N | Climate change mitigation | Climate change adaptation | Water | Pollution | Circular economy | Biodiversity | Climate change mitigation | Climate change adaptation | Water | Pollution | Circular economy | Biodiversity | Minimum guarantee | Percentage of capex aligned with (A.1.) or eligible for (A.2.) the taxonomy, year N-1 | Category (enabling activity) | Category (transitiona l activity) |
| :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- |
| | | | | | | | M€ | % | YES, NO, N/EL | YES, NO, N/EL | YES, NO, N/EL | YES, NO, N/EL | YES, NO, N/EL | YES, NO, N/EL | YES/NO | YES/NO | YES/NO | YES/ NO | YES/ NO | YES/ NO | YES/ NO | % | | |
| A. TAXONOMY-ELIGIBLE ACTIVITIES | | | | | | | | | | | | | | | | | | | | | | | |
| A.1 Activities that are environmentally sustainable (aligned with the taxonomy) | | | | | | | | | | | | | | | | | | | | | | | |
| 4.9. Electricity transmission and distribution | CCM | 4.9 | €— M | —% | YES | YES | N/EL | N/EL | N/EL | N/EL | YES | YES | YES | YES | YES | YES | YES | 2.10% | E | |
| 7.4 Installation, maintenance and repair of electric vehicle charging stations inside of buildings (and in parking garages attached to buildings) | CCM | 7.4 | €— M | —% | YES | YES | N/EL | N/EL | N/EL | N/EL | YES | YES | YES | YES | YES | YES | YES | 0.39% | E | |
| 7.5 Installation, maintenance and repair of instruments and devices for measuring, regulating, and controlling building energy efficiency | CCM | 7.5 | €— M | —% | YES | YES | N/EL | N/EL | N/EL | N/EL | YES | YES | YES | YES | YES | YES | YES | 1.21% | E | |
| 7.6 Installation, maintenance and repair of technologies related to renewable energy | CCM | 7.6 | €— M | —% | YES | YES | N/EL | N/EL | N/EL | N/EL | YES | YES | YES | YES | YES | YES | YES | 1.44% | E | |
| 6.5 Transportation using motorcycles, personal vehicles, and light commercial vehicles | CCM | 6.5 | €1.738 M | 5.25% | YES | NO | N/EL | N/EL | N/EL | N/EL | YES | YES | YES | YES | YES | YES | YES | 9.35% | E | |
| Capex for environmentally sustainable activities (aligned with the taxonomy) (A.1) | | | €1.738 M | 5.25% | 5.25% | 0% | 0% | 0% | 0% | 0% | YES | YES | YES | YES | YES | YES | YES | 14.49% | | |
| Of which enabling | | | €1.738 M | 5.25% | 5.25% | 0% | 0% | 0% | 0% | —% | YES | YES | YES | YES | YES | YES | YES | 14.49% | E | |
| Of which transitional | | | 0% | —% | | | | | | | YES | YES | YES | YES | YES | YES | YES | —% | | |
| A.2 Activities eligible for the taxonomy but not environmentally sustainable (not aligned with the taxonomy) | | | | | | | | | | | | | | | | | | | | | | | |
| Capex for activities eligible for the taxonomy but not environmentally sustainable (not aligned with the taxonomy) (A.2) | | | €0.000 M | 0.00% | 0% | 0% | 0% | 0% | 0% | 0% | 0.00% | | | | | | | | | | |
| A. Capex from activities eligible for the taxonomy (A.1+A.2) | | | €1.738 M | 5.25% | 5% | 0% | 0% | 0% | 0% | 0% | | | | | | | | 14.49% | | |
| B. TAXONOMY NON-ELIGIBLE ACTIVITIES | | | | | | | | | | | | | | | | | | | | | | | |
| Capex from activities not eligible for the taxonomy (B) | | | €31.4 M | €94.9% | | | | | | | | | | | | | | | | | | | |
| TOTAL | | | €33.1 M | €100.0% | | | | | | | | | | | | | | | | | | | |

$^3$ The percentage of Solutions30 capex on eligible activities is calculated by dividing total capex from eligible activities as described in section “3.2.6 Group activities and environmental taxonomy” and using the definition of the European Taxonomy by consolidated capex as presented in notes “11.1 Usage Rights” (€21.3 million), “14.2 Other Intangible Assets” (€7.7 million), and “14.3 Property, Plant and Equipment” (€4.1 million).

$^3$ Solutions30 | Annual Report 2025 81

ICP 3 – Opex

Economic activity	Code	Opex	Percent age of opex, year N	Substantial contribution criteria	Absence of significant harm criteria (“DNSH criteria”)													Minimum guarantee	Percentage of opex aligned with (A.1.) or eligible for (A.2.) the taxonomy, year N-1	Category (enabling activity)	Category (transitional activity)
		€M	%	Climate change mitigation	Climate change adaptation	Water	Pollution	Circular economy	Biodiversity	Climate change mitigation	Climate change adaptation	Water	Pollution	Circular economy	Biodiversity			%	E	T
A. TAXONOMY-ELIGIBLE ACTIVITIES
A.1 Activities that are environmentally sustainable (aligned with the taxonomy)
4.9. Electricity transmission and distribution	CCM	4.9	€0.0 M	0%	YES	YES	N/EL	N/EL	N/EL	N/EL	YES	YES	YES	YES	YES	YES	YES	0%	E
7.4 Installation, maintenance and repair of electric vehicle charging stations inside of buildings (and in parking garages attached to buildings)	CCM	7.4	€0.0 M	0%	YES	YES	N/EL	N/EL	N/EL	N/EL	YES	YES	YES	YES	YES	YES	YES	0%	E
7.5 Installation, maintenance and repair of instruments and devices for measuring, regulating, and controlling building energy efficiency	CCM	7.5	€0.0 M	0%	YES	YES	N/EL	N/EL	N/EL	N/EL	YES	YES	YES	YES	YES	YES	YES	0%	E
7.6 Installation, maintenance and repair of technologies related to renewable energy	CCM	7.6	€0.0 M	0%	YES	YES	N/EL	N/EL	N/EL	N/EL	YES	YES	YES	YES	YES	YES	YES	0%	E
6.5 Transportation using motorcycles, personal vehicles, and light commercial vehicles	CCM	6.5	€0.0 M	0%	YES	NO	N/EL	N/EL	N/EL	N/EL	YES	YES	YES	YES	YES	YES	YES	0%	E
Opex for environmentally sustainable activities (aligned with the taxonomy) (A.1)			€0.0 M	0%	0%	0%	0%	0%	0%	0%	YES	YES	YES	YES	YES	YES	YES	0%	E
Of which enabling			€0.0 M	0%	0%	0%	0%	0%	0%	—%	YES	YES	YES	YES	YES	YES	YES	0%	E
Of which transitional			0%	0%							YES	YES	YES	YES	YES	YES	YES	0%
A.2 Activities eligible for the taxonomy but not environmentally sustainable (not aligned with the taxonomy)
EL;N/EL	EL;N/EL	EL;N/EL	EL;N/ EL	EL;N/ EL	EL;N/ EL
Opex for activities eligible for the taxonomy but not environmentally sustainable (not aligned with the taxonomy) (A.2)			0.0M€	0%	0%	0%	0%	0%	0%	0%	0%
A. Opex from activities eligible for the taxonomy (A.1+A.2)			0.0M€	0%	0%	0%	0%	0%	0%	0%								0%
B. TAXONOMY NON-ELIGIBLE ACTIVITIES
Opex from activities not eligible for the taxonomy			€21.7 M	100%
TOTAL			€21.7 M	100%

$^3$ Solutions30 | Annual Report 2025 82

3 Eligibility and alignment by environmental goal:

	Percentage of revenue / Total revenue	Aligned with taxonomy by objective	Eligible for taxonomy by objective
CCM	18.0%	18.0%
CCA	0.0%	0.0%
WTR	0.0%	0.0%
CE	0.0%	0.0%
PPC	0.0%	0.0%
BIO	0.0%	0.0%

	Percentage of capex / Total capex	Aligned with taxonomy by objective	Eligible for taxonomy by objective
CCM	5.3%	5.3%
CCA	0.0%	0.0%
WTR	0.0%	0.0%
CE	0.0%	0.0%
PPC	0.0%	0.0%
BIO	0.0%	0.0%

$^3$ Solutions30 | Annual Report 2025 83

3.2.2. ESRS E1 – Climate Change

3.2.2.1. Our approach and policies

At Solutions30, our mission is to operate in a way that minimises negative impacts and enhances positive impacts on the environment. This commitment underpins our efforts to deliver advanced solutions in connectivity, technology and the energy sector. Year after year, Solutions30 has increased the share of revenue generated from activities that are eligible or aligned with the EU Taxonomy, particularly in the installation of electric vehicle charging stations (EVC), the deployment of solar panel farms and the upgrading and modernisation of electrical networks, initiatives that, in turn, enable the broader adoption of renewable energy and electric mobility. These activities not only support the use of cleaner energy sources but also help reduce emissions across the entire value chain. Through this work, we play an active role in accelerating the transition toward a low‑carbon economy.Our commitment to sustainability is led by the Group Head of ESG, Compliance and Risk, and is overseen by the Supervisory Board through the Strategy and ESG Committee, which ensures transparency, rigour and the consistent implementation of best practices across the Group. As a long‑standing industry player in connectivity, renewable energy and technology, Solutions30 recognises its responsibility to advance both technological progress and environmental sustainability. While our activities contribute to the deployment of cleaner and more efficient solutions, such as telecommunications infrastructure and renewable energy systems, we remain fully aware of the environmental impacts associated with our operations, including the GHG emissions generated by our own vehicles fleet and the fleets operated by our subcontractors. We are therefore committed not only to measuring and monitoring our carbon footprint but also to actively reducing it across all areas of our operations. As part of these efforts, we continue to implement the “GHG Emission Reduction” project, aligned with the SBTi framework, alongside the ongoing deployment of renewable energy solutions within our service offering. These initiatives form a central pillar of our long‑term decarbonisation strategy.

Science-aligned climate action

To align our core business activities with our sustainability ambition, in October of 2025, a significant milestone was achieved with the formal submission of our near term greenhouse gas (GHG) emissions reduction targets to the Science Based Targets initiative (SBTi). This step represents a major achievement in our sustainability journey. On 22 January 2026, the SBTi officially approved our near term science based targets. Having our targets validated confirms that our decarbonisation strategy is not only ambitious but also credible and grounded in climate science. The Solutions30 Group committed to:

• Reduce absolute Scope 1 and 2 GHG emissions by 42% by 2030, from a 2023 base year.
• Reduce absolute Scope 3 GHG emissions by 25% by 2030, from the same base year.

These ambitions focus on the areas where the Group can have the greatest influence, both in the way we operate and in the way we collaborate with suppliers, partners, and clients. The approval of these targets represents strong external validation of the work undertaken across the Group. It demonstrates that we are taking meaningful, measurable actions to reduce our environmental footprint and contribute to global climate action efforts. This recognition marks an important step forward in the implementation of our sustainability strategy. For more detailed information about our near term science based targets, please refer to Chapter 3.5 – “Our Commitments”.

Renewable energy deployment

We continue to invest in the development, installation and maintenance of renewable energy assets, including solar farms and electric vehicle charging infrastructure (EVC). Our investments in solar energy directly increase renewable generation capacity, while the deployment of EV chargers plays a critical role in supporting the transition to electric mobility and reducing transport related emissions. A key area of our contribution to the energy transition also includes the upgrading, modernisation and expansion of electrical distribution networks. These activities enhance grid stability and capacity, enabling the installation of additional EV charging points and increasing the share of electricity sourced from 100% renewable systems, such as solar power.

In 2025, the share of Group revenue generated from “green activities”, that is, activities eligible or aligned with the EU Taxonomy, grew by 34% compared with 2024. For 2026, one of our primary objectives is to ensure this trend continues, with a target of at least a further 5.5% increase in revenue from Taxonomy eligible and aligned activities by year end.

To address any potential negative impacts across our value chain, we work closely with key customers to promote and develop low emission solutions. In 2026, we will continue strengthening collaboration with our subcontractors, encouraging the adoption of sustainable practices consistent with our own environmental standards. Our goal is to keep expanding these environmental initiatives while ensuring that every phase of our work, from planning to operation, contributes to a cleaner, more sustainable and resilient energy future.

Solutions30 | Annual Report 2025 84

3.2.2.2. Material Impacts, Risks and Opportunities (IRO)

In the image on the right, we present the materiality level of each sub-topic related to the topic “Climate Change.” This aims to highlight the relative importance of each sub-topic, within the Solutions30 environmental strategy. The table below outlines the sustainability-related impacts, risks, and opportunities (IRO) identified and assessed as material through our double materiality assessment process. Specifically, it refers to the IROs associated with “Climate Change (ESRS E1)”. Additionally, we specify whether these impacts are positive or negative. All impacts are considered actual unless explicitly stated as potential impacts.

ESRS E1 – Climate Change

IRO Identification	Material impact, risk or Opportunity	Description	Positive impact
Climate change mitigation	Renewable energy solutions	Renewable energy is one of the key technologies needed to decarbonize society and limit global heating to 1.5 °C. Our activities, which are aligned with and eligible under the EU Taxonomy, directly contribute to climate change mitigation. By engaging in the installation of photovoltaic solar panels and electric vehicle charging infrastructure, we support the transition to renewable energy and sustainable mobility, reducing greenhouse gas emissions and promoting a low-carbon economy.	Yes
	GHG emissions	A significant portion of this impact arises from the vehicles used by our technicians (Scope 1) and those operated by our subcontractors (Scope 3), which are still predominantly fuel powered. Given the high frequency of daily interventions and continuous travel required for our operations, these vehicle emissions contribute notably to our carbon footprint. We respond to this impact through our strategic targets and our actions to reduce our carbon footprint.	No
Climate change adaptation	Risk Fleet electrification and the potential impact on service performance reaction and efficiency	Fleet electrification poses a potential risk due to its impact on service performance, reaction times, and overall efficiency. Transitioning from fuel- powered vehicles to electric ones may introduce challenges such as limited vehicle range, longer charging times, and the availability of charging infrastructure. These factors could affect the ability of our technicians to respond promptly to service requests and maintain the high frequency of daily interventions required. Ensuring a smooth transition while maintaining operational efficiency will require careful planning and investment.	No
	Risk Sustainable mobility	Reputational risks can quickly become financial risks. Especially as customers are less willing to work with partners that do not consider sustainable mobility seriously.	No
Energy	Opportunity Increase the share of revenue aligned with the EU Taxonomy	This represents a significant opportunity for us, as the growing demand for photovoltaic solar panel installations, electric vehicle charging stations and the upgrading and modernisation of electrical distribution networks aligns directly with our expertise. These network improvements increase grid capacity and stability, enabling the deployment of more EV charging points and allowing a greater share of electricity to come from 100% renewable sources such as solar power. The expansion of these activities not only supports the transition to cleaner energy but also positions Solutions30 to capture value in a rapidly growing market. By leveraging our capabilities in renewable energy deployment, EV infrastructure and electrical network modernisation, we continue to drive business growth while reinforcing our long‑term commitment to sustainability.	Yes

Solutions30 | Annual Report 2025 85

3.2.2.3. Transition Plan for Climate Change Mitigation

Path to Sustainability and Emission Reduction

The “GHG Reduction” project reflects our commitment to pursuing absolute, science based, short term emission reduction targets, aligned with the global objective of limiting temperature rise to 1.5°C. The first major milestone of this project was reached in January 2024, when the Executive Board made the strategic decision to formally commit the Group to the Science Based Targets initiative (SBTi). The second milestone involved engaging an external specialised consultancy in carbon footprint reduction to support us in defining realistic near term targets and developing a detailed roadmap to ensure their achievement. As part of this process, the external third party conducted a thorough review of our GHG inventory methodology and calculations, with particular focus on 2023, which was established as our base year for target setting. This independent verification was essential, as it enabled us to define objectives and targets based on a solid, validated and externally reviewed baseline. The third major milestone, achieved very recently, was the submission and subsequent validation of our near term GHG emission targets by the SBTi, confirming that the project is progressing as expected and meeting all interim milestones originally defined.

Reducing our carbon footprint remains our primary ESG priority. To steer this work, we have established a dedicated internal team composed of both permanent and occasional members:

• Permanent members: the entire Group ESG team and two members of the Management Board. This team meets weekly to review the status of ESG topics, including the decarbonisation plan.• Occasional members: fleet managers from several countries/companies and CSR representatives from each country, company or Business Unit. Meetings with these members occur less frequently, with no fixed periodicity; however, they have convened at least once per month.

Structure and Review of the Transition Plan

Our transition plan strategy was defined at the beginning of 2024 and is reviewed periodically to ensure that it remains up to date and aligned with the Group’s strategic, operational and financial developments. The plan is structured into two distinct phases:

• Phase 1 – “Containment and Minimisation of GHG Emissions”: Implemented during 2024 and 2025, this phase focused on stabilising and reducing emissions as much as possible ahead of defining SBTi aligned emission reduction pathways.
• Phase 2 – “GHG Emissions Reduction”: Covering 2026 and beyond, this phase focuses on achieving our science based targets through the implementation of the mitigation actions defined in our roadmap.

3 NOTE: The annual $\text{CO}_2\text{e}$ emissions reduction graph above is for illustration purposes only.

1st Phase: Limitation and Minimization of GHG Emissions (2024-2025)

The primary objective of this phase was to prepare the Group for the second stage of the transition plan. This phase allowed us to study different scenarios and solutions, analyse risks, impacts and opportunities, implement pilot projects, test potential mitigation measures, raise awareness among all employees (e.g., ESG awareness sessions), and define measurable objectives as well as short and medium term action plans. All these steps were based on a pragmatic, realistic and sustainable approach, aligned with the characteristics of our business sectors. This phase culminated in the approval of our near term GHG emission reduction targets by the SBTi, along with the finalisation of our carbon reduction roadmap to ensure the achievement of these targets. Below, we present the main activities and actions planned for implementation during Phase 1, alongside the status of their completion.

Main Activities	Status
• Create the project team and define tasks and responsibilities.	Completed
• Commit to the SBTi	Completed
• Define Intensity Target ($\text{tCO}_2\text{e}/\text{M}€$)	Completed
• Analyze IRO’s (list of all obstacles and constraints).	Completed
• Define the transition plan.	Completed
• Define a detailed action plan to limit the increase of $\text{CO}_2$ emissions (by country)	Completed
• Submit Near-term target to SBTi – Scope 1, 2 and 3 and action plan.	Completed

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Main Actions

• Gradually electrifying the vehicle fleet and Pilot projects.
• Optimizing technicians’ routes.
• Eco-driving and ESG trainings.
• Vehicle Telematics – implementing vehicle telematics systems to monitor and improve driver behavior (fuel efficiency).
• Training more versatile technicians, linked to an area and not to an activity anymore.
• Analyzing the possibility of using “eco” fuels such as hydrotreated vegetable oil (HVO).

Status

Overall, the actions planned for the first phase have largely been implemented. The gradual electrification of the vehicle fleet is ongoing, and technicians’ route optimization is also being progressively implemented. Around 81% of Group employees have participated in ESG training, and many have received Eco-driving training over the past three years, with a reinforcement/refresher program planned for 2026 (see Group ESG objectives). HVO is already being used in France and Portugal. Continuous efforts have been made to strengthen and broaden technicians’ technical skills. The only area slightly behind schedule is the implementation of vehicle telematics systems, mainly due to GDPR law restrictions, which limit the use of GPS tracking on company vehicles used by employees.

2nd Phase: GHG Emission Reduction (2026 and Beyond)

This phase consists of two areas of action: internal action (within the S30 Group) and external action (within our value chain). The primary objective is the implementation of the roadmap and action plan defined under our commitment to the SBTi, ensuring we achieve the targets submitted and validated by this initiative. At this stage, targets will be set in absolute terms, aligned with the global objective of limiting warming to $1.5^\circ\text{C}$. We anticipate that GHG emission reductions will follow an exponential rather than linear trend, meaning that the annual reduction percentage will increase year after year.

This strategy will be supported by technological advancements in vehicles and batteries, the development of electric and alternative non-polluting solutions, and the expansion of electric vehicle charging networks in the countries and regions where we operate. A significant part of our operations relies on the daily mobility and interventions of thousands of technicians, making vehicle autonomy and the availability of fast-charging infrastructure critical factors in maintaining operational efficiency and productivity. Any limitations in these areas could directly impact our ability to deliver services effectively. Therefore, the successful implementation of our fleet electrification strategy and, consequently, a significant reduction in our carbon footprint depends on the continuous advancement of technology, infrastructure, and available solutions. Ensuring that these developments keep pace with our needs is essential to achieving our sustainability goals while maintaining service quality and operational performance.

Main Activities

• Define a vehicle fleet electrification plan for each country
• Define annual absolute GHG emissions reduction targets according to SBTi alignment
• Adjust SBTi targets and base year according to merge and acquisitions
• Define a detailed action plan to reduce the GHG emissions taking into account the revenue increase by type of activity (by country/company)
• Monitor external factors (e.g. possible changes to the SBTi agreement or COP strategy)
• Monitor the evolution of each country in terms of EVC network, taxes and costs for electric cars or other less polluting technologies
• Reassess the risks associated with the $\text{CO}_2$ reduction pathway

Main Actions

• Fleet Electrification – Sustainable and progressive replacement of fuel vehicles with vehicles using non-polluting technologies (electric vehicles, hydrogen vehicles, etc.)
• Actions to ensure and advise our subcontractors so that they can align their carbon footprint reduction strategies with our targets
• Continue to implement the remaining reduction measures defined for the 1st phase

Carbon Footprint Reduction and Energy Transition

Over the past four years, Solutions30 has focused its efforts on reducing its carbon footprint and planning the transition to renewable energy. This journey has been marked by the following advancements:

a. Growth of “green” activities: Our activities aligned with the EU taxonomy have significantly increased. In 2025, they accounted for 18% of our total revenue, reflecting a 34% growth compared to 2024. The goal for 2025 is to increase this percentage by an additional 5.5% compared to 2025, requiring strong commitment from the entire organization to capture and execute a higher volume of activities in the renewable energy sector.

b. Use of 100% renewable energy: Some of Solutions30 Group companies already operate buildings powered exclusively by electricity from renewable sources. This initiative reflects our commitment to reducing indirect emissions and will be progressively expanded across the Group. For 2026, we have decided to separate our emissions reduction target into two distinct components: one dedicated to Scope 1 emissions and another dedicated to Scope 2 emissions. Regarding Scope 2, the primary action will be to increase the percentage of Solutions30 offices and warehouses supplied exclusively with electricity from 100% renewable sources. This strategic focus is particularly important in the context of the ongoing electrification of our fleet. As the proportion of fully electric and plug-in hybrid vehicles continues to grow, a significant increase in electricity consumption ($\text{kWh}$)

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is expected. Ensuring that this additional electricity demand is met with renewable energy is therefore essential to effectively reducing our overall carbon footprint.

c. Alignment with the UN Sustainable Development Goals (SDGs): In 2025, Solutions30 strengthened its commitment to the principles of the UN Global Compact, further embedding sustainable best practices throughout its operations and governance framework. Our sustainability strategy is aligned with the United Nations Sustainable Development Goals (SDGs), which serve as a guiding framework for our environmental, social, and governance priorities. Detailed information on how the Group contributes to each of the SDGs considered material and applicable to our activities is provided in Subchapter 3.5, “Our Commitments.”.

d. Reduction of GHG emissions: Between 2023 and 2025, we achieved a significant absolute reduction of 24% in our Scope 1 and Scope 2 greenhouse gas (GHG) emissions. Over the same period, our Scope 3 emissions decreased by 23%. These reductions across all emission scopes demonstrate the effectiveness of our decarbonisation strategy and position us strongly in relation to our near-term targets validated by the Science Based Targets initiative (SBTi). Our progress is not limited to absolute reductions. We have also delivered substantial improvements in emissions intensity, reinforcing the structural nature of our decarbonisation efforts. Our primary relative performance indicator is carbon intensity, measured in tonnes of $\text{CO}_2$ equivalent per million euros of revenue ($\text{tCO}_2\text{e}/\text{M}€$). From 2023 to 2025, we reduced our Scope 1 and 2 carbon intensity by 11.8%, while Scope 3 carbon intensity decreased by 11.0% over the same period.These results reflect our ability to decouple emissions growth from business expansion and confirm that sustainability is increasingly embedded in our operational and value chain decisions.

e. Collaboration with our Customers: We actively collaborate with our key clients to develop innovative and more effective solutions aimed at reducing environmental impact across the value chain. By working closely with customers, we identify opportunities to extend product life cycles, optimise resource use, and promote circular economy principles. A notable example is our initiative focused on repairing computers and printers to enable their reuse, thereby reducing electronic waste and lowering the demand for new equipment. Through such partnerships, we contribute to measurable environmental benefits while supporting our clients in achieving their own sustainability objectives.

f. Definition of annual environmental targets, designed to continuously improve our sustainability performance. These include specific objectives related to greenhouse gas (GHG) emissions management, energy efficiency, and the expansion of green initiatives across our operations. To reinforce accountability and alignment with our sustainability strategy, a percentage of the variable remuneration of managers is directly linked to the achievement of defined ESG objectives and targets. This approach strengthens governance, embeds sustainability into decision-making processes, and promotes a culture of responsibility throughout the organisation. The ESG objectives defined for 2026 are presented in detail in Subchapter 3.1.

g. Monitoring and measurement: Solutions30 has implemented a robust and comprehensive system for the collection, validation, and monitoring of environmental data, enabling the accurate calculation of monthly greenhouse gas (GHG) emissions. This structured approach ensures consistency, traceability, and reliability of reported information across the Group. We produce detailed monthly performance reports at multiple levels, including the consolidated 3 Group level, as well as by country, company, Business Unit, and key projects, allowing for granular analysis of emissions sources and trends. This continuous monitoring framework strengthens our capacity to identify risks and improvement opportunities in a timely manner. Based on the insights generated, we regularly review and adjust our operational and strategic action plans to ensure the progressive reduction of GHG emissions and the continuous mitigation of our environmental impact.

h. Adjustment of action plans: Through continuous monitoring and performance assessment, we systematically refine our emissions reduction strategies and environmental action plans. This dynamic approach enables us to respond proactively to operational changes, regulatory developments, and evolving sustainability priorities. By regularly evaluating the effectiveness of implemented measures, reallocating resources where necessary, and prioritising high-impact initiatives, we maximize the efficiency of our decarbonisation efforts and reinforce our commitment to continuous environmental improvement.

As part of our strategy and with a view to reducing our Scope 3 emissions, we also plan to decarbonize our Value Chain. Since our primary source of emissions is the activity carried out by our subcontracting network, we aim to continually increase awareness and engagement among our subcontractors on climate change issues in 2026. During 2026, we plan to introduce concrete measures and actions to increase the number of subcontractors aligned with our GHG emission reduction targets, encouraging them to join our decarbonization journey while sharing our experience and knowledge. This initiative will follow the validation of our targets with the SBTi and will always be aligned with the goal of limiting global warming to 1.5°C.

Supervision of the Transition Plan

Our transition plan was formally approved by the Group’s Management Board and subsequently presented to the Supervisory Board during the Strategy and ESG Committee meeting held in November 2024. The plan was also presented to and discussed with the Executive Committee in January 2025, ensuring alignment at the highest levels of governance and reinforcing accountability for its implementation across the Organisation.

At the end of 2025, the transition plan was subject to a comprehensive review. Following this assessment, it was concluded that the plan remains robust, fit for purpose, and fully adequate to address the Group’s decarbonisation

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challenges. The review confirmed that the strategic priorities, implementation roadmap, and underlying assumptions continue to be aligned with our climate commitments, regulatory developments, and evolving market conditions. All initiatives and progress are summarized in our internal monthly ESG report. At least once a year, all relevant activities, projects, and initiatives, along with their results and defined targets, are reported in detail and transparently in the Group’s annual report. This report is made available to all stakeholders and includes the evolution of our plan and climate goals.

■ Climate Resilience

Scope of Climate Resilience Analysis

As a leading company in the connectivity, renewable energy, and IT sectors, we adopt a comprehensive approach to assessing and managing risks and opportunities related to climate change and the transition to a low-carbon economy. This strategy aims to ensure alignment with evolving regulatory requirements while maintaining the resilience of our business model and long- term strategy. Our resilience analysis is based on two fundamental pillars:

1. Assessment and management of risks and opportunities related to the transition to a low-carbon economy, including macroeconomic, political, technological, and market factors.
2. Assessment of physical climate risks, considering the long-term impacts of climate change and extreme weather events on our operations and infrastructure.

Transition Risks and Opportunities

Transition risks arise from the changes required for a low- carbon economy and include factors such as new regulations, technological innovation, market shifts, and evolving consumer preferences. In recent years, we have mitigated these risks by expanding our sustainable activities and increasingly integrating solutions aligned with global climate goals. This progress positions us favorably to capitalize on the growing demand for sustainable services and technologies.

As previously mentioned, revenue from "green activities" (activities eligible and aligned with the EU Taxonomy) accounted for 18% of our total revenue in 2025, representing a 34% growth compared to 2024. Our goal is to systematically increase this percentage, with the Group targeting at least 19% of green activities by 2026, an additional 5.5% increase compared to 2025.

One of the challenges identified in our analysis is uncertainty regarding political and regulatory support for the energy transition. Changes in legislation, reductions in tax incentives, and new reporting obligations can influence the growth rate of renewable energy and sustainable digitalization. Therefore, we closely monitor political and economic trends to ensure that our business strategies adapt to market conditions.

Physical Climate Risks

Physical climate risks include extreme weather events (storms, floods, heatwaves, and cold spells) and chronic climate changes (temperature variations, precipitation patterns, and availability of natural resources). These risks can impact the operational efficiency of telecommunications and connectivity infrastructure, as well as the performance of renewable energy assets.

To ensure the resilience of our assets and services, we conduct detailed assessments of the potential impacts of climate change on our network and operational structure. Our analysis process aligns with the EU Taxonomy criteria for climate adaptation, ensuring that our facilities and 3 equipment are prepared to withstand adverse weather conditions and that contingency plans are in place to ensure business continuity in the event of an environmental anomaly.

Resilience Analysis Methodology

1. Management of transition risks: This analysis was conducted through the Group’s strategic risk assessment process, which monitors geopolitical, economic/financial, business, and corporate risks. It was complemented by our double materiality analysis. This structured and proactive approach allows us to not only identify and mitigate the risks and opportunities associated with transitioning to a more sustainable business model but also assess the impact of our activities on the environment and society. This ensures a more effective strategic adaptation aligned with the Group’s long-term resilience.
2. Analysis of physical climate risks: In 2024, we conducted an assessment of the real or potential impact that physical climate risks may have on our operations. Climate risk was determined by analyzing two factors:
3. Exposure: Current and future exposure of the system to physical climate risks (e.g., flooding, cyclones, forest fires, heat or cold waves, etc.). Current exposure was calculated based on historical data of adverse weather events in the locations/regions where Solutions30 operates. Future exposure was calculated through climate projections and scenarios (e.g., IPCC climate projections) in the locations/regions where Solutions30 operates, with medium and long-term scenario analysis extending to 2100.
4. Vulnerability: Current and future sensitivity of company sites to external factors (e.g., work stoppages due to weather events). Vulnerability was measured by analyzing the impact of real events over the last five years, counting the number of days of work stoppage caused by these events.

Note: This analysis was conducted by country/region.This analysis allowed us to assess future risks and prioritize adaptation strategies to ensure the security and efficiency of our assets, enabling a more robust and preventive response to climate challenges. Solutions30 | Annual Report 2025 89

Below, we present the physical climate risks analyzed in alignment with the EU Taxonomy Climate Delegated Act.

Hazard Group	Type	Physical Climate Risk	Hazard included in the assessment
Water-related hazards	Acute	Drought	Yes
	Acute	Heavy precipitation (rain, hail, snow/ice)	Yes
	Acute	Flooding (coastal, river, rain, groundwater rising)	Yes
	Acute	Rupture of glacial lakes	No
	Chronic	Hydrological or precipitation variability	Yes
	Chronic	Ocean acidification	Yes
	Chronic	Seawater infiltration	Yes
	Chronic	Sea level rise	Yes
	Chronic	Water stress	Yes
Temperature-related hazards	Acute	Heat wave	Yes
	Acute	Cold wave/frost	Yes
	Acute	Forest fire	Yes
	Chronic	Temperature changes (air, freshwater, seawater)	Yes
	Chronic	Thermal stress	Yes
	Chronic	Temperature variability	Yes
	Chronic	Thawing of permafrost	No
Wind-related hazards	Acute	Cyclone, hurricane or tornado	Yes
	Acute	Storm (including snow, dust and sand storms)	Yes
	Chronic	Changes in wind patterns	Yes
Hazards related to solid masses	Acute	Avalanche	No
	Acute	Landslide	Yes
	Acute	Subsidence (sudden collapse of the ground surface)	Yes
	Chronic	Coastal erosion	Yes
	Chronic	Soil degradation	Yes
	Chronic	Soil erosion	Yes
	Chronic	Solifluction	Yes

3 NOTE: The risks identified above as not considered in the executed assessment were excluded from the evaluation because they were deemed inapplicable due to the geographical location of the Group’s entities.

Resilience Analysis Results

Our analysis confirms that transition risks and opportunities are an integral part of investment and business development decisions. Our strategy focuses on:

• Increasing portfolio diversification to mitigate regulatory and political risks.
• Monitoring political and regulatory stability in the markets where we operate.
• Strengthening strategic partnerships with clients and suppliers to drive the transition to sustainable solutions.

Our proactive approach allows us not only to minimize risks but also to leverage opportunities in the transition to a more sustainable economic model, ensuring the long-term resilience and competitiveness of our Group.

Physical Climate Risk Analysis Results

In summary, the assessment of physical climate risks indicates that all our operations are protected against the impacts of climate change, thanks to the geographical location, the type of construction, and the structural integrity of our buildings, as well as the mitigation measures in place. From an operational standpoint, based on historical occurrences over the past five years, we have identified that the primary threats to our activities are floods and storms, which may cause temporary disruptions to our operations as well as ongoing projects. In 2026, we will conduct a full reassessment of climate risk analysis, ensuring that our risk management remains up to date and aligned with the evolution of Solutions30’s activities and the latest climate projections and scenarios.

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3.2.2.4. Actions to mitigate impacts or risks and maximize opportunities

Solutions30 has conducted a thorough assessment to identify the Impacts, Risks, and Opportunities (IRO) relevant to its operations. Based on this analysis, the company has strategically planned, defined, and implemented a comprehensive set of actions aimed at minimizing negative impacts and risks while maximizing potential opportunities. These actions are designed to enhance operational efficiency, strengthen employee well-being, and support sustainable growth. To ensure continuous improvement, Solutions30 actively monitors the outcomes of these initiatives and regularly evaluates their effectiveness. This approach allows for necessary adjustments and optimizations, ensuring that the actions remain aligned with the company’s strategic objectives and evolving challenges. The table below provides a summary of the actions and projects that have been implemented or are planned, in alignment with our workforce strategy and policies.

Topic	Main action description
Climate Change Reducing emissions from operations	• Submission of Near-Term GHG Emissions Targets to the Science Based Targets initiative (SBTi): In October 2025, Solutions30 submitted its near-term absolute greenhouse gas (GHG) emissions reduction targets (Scopes 1, 2 and 3) for 2030 to the Science Based Targets initiative (SBTi). These targets were formally validated and approved by the SBTi on 22 January 2026, confirming their alignment with the latest climate science and global decarbonisation pathways.This milestone reinforces the Group’s commitment to a structured and science-based approach to climate action, providing a clear roadmap for emissions reduction across operations, energy consumption and the value chain. The validation also strengthens transparency and accountability towards stakeholders, ensuring that our decarbonisation strategy is measurable, credible and aligned with international best practices.
	• Fleet Electrification: Solutions30 is progressively transforming its vehicle fleet through the systematic replacement of internal combustion vehicles with fully electric (BEV) and plug-in hybrid (PHEV) alternatives. This transition represents one of the Group’s most significant levers for reducing direct emissions (Scope 1) and supporting the broader decarbonisation of its operations. In 2025, the Group continued to increase the share of fully electric and plug-in hybrid vehicles, which represented 10% of the total fleet by year-end (excluding heavy goods vehicles – HGVs). Compared with 2024, the proportion of BEV and PHEV vehicles rose from 8.2% to 10%, corresponding to a relative increase of 20% and a parallel reduction in the share of of diesel-powered vehicles. Beyond emissions reduction, fleet electrification contributes to lower fuel costs, reduced noise pollution and improved alignment with regulatory developments and low-emission mobility trends across the countries in which the Group operates.
	• Selection of Vehicles with Lower CO₂ Emission Factors: For combustion vehicles that remain necessary for operational or technical reasons, vehicle procurement decisions prioritise emissions performance, measured in grams of CO₂ per kilometre (gCO₂/km). Country-specific car policies incorporate emissions thresholds and efficiency criteria to guide purchasing decisions and ensure consistency with the Group’s environmental objectives. This approach enables the progressive reduction of the average emissions intensity of the fleet, even where full electrification is not yet operationally feasible, while also supporting compliance with evolving regulatory requirements and corporate sustainability commitments.
	• Use of HVO as an alternative to conventional Diesel Hydrotreated Vegetable Oil (HVO) is a renewable fuel that can be used as a direct substitute for conventional diesel in compatible internal combustion engines. It offers a significantly lower lifecycle carbon footprint compared with fossil diesel, while maintaining similar performance characteristics and operational flexibility. The main advantages of HVO include a substantial reduction in lifecycle GHG emissions, improved local air quality due to lower particulate and NOx emissions, and compatibility with most existing diesel engines without requiring vehicle modifications. HVO can therefore be deployed rapidly, allowing operational continuity, particularly for activities that require long ranges, high utilisation rates or specific technical vehicle configurations. However, the use of HVO also presents some limitations. Availability remains uneven across geographies, with distribution infrastructure still developing in several markets. The cost of HVO is generally higher than that of conventional diesel, which may limit large-scale deployment depending on local market conditions. Furthermore, as with all biofuels, sustainability depends on the responsible sourcing of raw materials and certification schemes that ensure traceability and environmental integrity. In 2025, Solutions30 launched a pilot project in Portugal to assess the real-world performance of HVO, including fuel consumption, vehicle performance and operational suitability. From June onwards, all diesel vehicles equipped with engines compatible with this type of fuel transitioned to the exclusive use of HVO. The results observed to date have been very positive, confirming the operational reliability of the fuel and its potential to contribute to emissions reduction without disrupting field activities. 3
	Solutions30
Climate Change Reducing emissions from operations	• Following this initial experience, the Group has already begun extending the use of HVO to part of its operations in France and continues to assess opportunities to expand its adoption in other countries where it operates. This expansion will depend on financial feasibility, market conditions and the availability of adequate fuel distribution networks. Solutions30 views HVO as a practical and complementary solution within its broader fleet decarbonisation strategy. While electrification remains a priority and the long-term direction for reducing transport-related emissions, HVO provides a viable transitional alternative for vehicle categories where electric solutions are not yet available or where they remain financially or operationally unsuitable for the nature of the Group’s activities.
	• Optimisation of Technician Routes A significant share of Solutions30’s operational activities, particularly within the Telecom business unit, relies on advanced route-optimisation software.

• Multi-skilled Technicians
  The continuous training and upskilling of technicians to perform a wide range of services enables the Group to assign personnel to specific geographical areas, thereby reducing travel distances and associated emissions. A multi-skilled workforce also increases operational flexibility, improves responsiveness to customer needs and reduces the need for additional trips or specialised interventions. In 2025, technicians received a total of 101,175 hours of training, corresponding to an average of 25 hours per technician. This investment in skills development supports both operational excellence and environmental performance, while reinforcing employee engagement and long-term employability.

• Eco-driving Training
  Solutions30 delivers eco-driving training programmes to employees who use company vehicles, with the aim of reducing fuel consumption, limiting vehicle wear and lowering associated GHG emissions. These sessions focus on practical driving techniques, responsible behaviour on the road and the environmental and safety impacts of driving practices. Over the past three years, more than 3,100 hours of eco-driving and road safety training have been delivered across the Group. For 2026, our objective is that at least 70% of all Group employees who are assigned or regularly use company vehicles attend the “Eco-driving & Safe Driving” training during the year. This initiative aims to reinforce awareness of responsible driving practices that contribute to emissions reduction and improved road safety during work-related travel.

• GPS Tracking System in Company Vehicles
  Where feasible, and taking into account applicable local legislation and data protection requirements, Solutions30 is implementing GPS tracking systems in company vehicles. These systems enable the monitoring of fuel consumption, driving speeds and overall driving behaviour. The data collected will support the identification of inefficiencies, encourage responsible driving habits and discourage excessive speeding. In addition, it will provide valuable insights to improve fleet management and to design more targeted and effective eco-driving and safe driving training programmes.

• Reducing Vehicle Weight to Lower Fuel Consumption
  Operational guidelines encourage technicians to avoid carrying unnecessary tools, equipment or materials in company vehicles. Lower vehicle weight contributes directly to improved fuel efficiency and reduced emissions. Awareness sessions and internal communication campaigns will reinforce best practices, helping employees understand the environmental and operational benefits of optimised vehicle loading. This initiative complements broader efforts to improve fleet efficiency and reduce the carbon footprint of day-to-day activities.

• ESG Awareness Sessions
  All employees are required to participate in ESG awareness sessions designed to strengthen understanding of the Group’s sustainability strategy, commitments and targets. Particular emphasis is placed on climate-related objectives and the reduction of the Group’s carbon footprint. The ESG awareness campaign was launched in the second half of 2025, with the objective of reaching at least 80% of active Group employees. Participation reached 81% in 2025, demonstrating strong engagement across the organisation. For 2026, the Group aims to further increase participation, targeting a minimum participation rate of 85% of employees. These sessions play a key role in embedding ESG principles into daily operations, fostering a culture of responsibility and ensuring that sustainability objectives are shared across all levels of the organisation.

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Topic	Main action description
Climate Change	Reducing emissions from operations

• Increase in Renewable (“Green”) Electricity Procurement
  This initiative aims to reduce GHG emissions associated with Scope 2 by increasing the share of electricity purchased from renewable sources. Several Group companies already operate using 100% renewable electricity, demonstrating the feasibility and benefits of this transition. In line with SBTi requirements, Scope 2 emissions must be calculated using the market- based method. Considering the expected increase in electricity consumption driven by the expansion of the electric vehicle fleet, transitioning from “grey” electricity to renewable (“green”) electricity procurement is a strategic priority. This shift will support further reductions in indirect emissions, strengthen alignment with climate targets and contribute to a more resilient and sustainable energy strategy across the Group.

	Between 2024 and 2025, S30 achieved an absolute reduction of 16.9% in our Scope 1 and 2 emissions (market- based).
	In terms of intensity (tCO2e/M€ of revenue), we achieved a reduction of 9.6%, in our Scope 1 and 2 emissions.
	Regarding S30 Scope 3 GHG emissions, we achieved an 9.6% reduction between 2024 and 2025.
	In terms of intensity (tCO2e/M€ of revenue), we achieved a reduction of 1.6%, in our Scope 3 emissions.

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Topic	Main action description
Descarbonization and Energy Transition	Advancing Decarbonization Through Renewable Energy Solutions

Our decarbonization strategy is closely aligned with key climate-related opportunities and is designed to deliver measurable positive environmental impact. Central to this approach is the expansion of renewable energy products and services, including the installation of solar photovoltaic systems, the deployment of electric vehicle (EV) charging infrastructure, the rollout of smart metering solutions, and the upgrading and modernisation of electrical grids.

In the previous reporting years, the activities carried out by Solutions30 in the upgrading and modernisation of the electrical grid had not been classified as eligible or aligned with the EU Taxonomy. In 2025, following a more detailed technical assessment, we concluded that these activities are both eligible and aligned with the criteria established under the EU Taxonomy framework. As a result, the 2025 Taxonomy disclosures now include the contribution of these grid‑related activities. To ensure full transparency and comparability, the 2024 Taxonomy values were also restated to incorporate the same electrical‑grid activities.

This sector represents not only a significant growth opportunity for our business but also a critical lever for accelerating the energy transition. Solar energy projects increase the availability and accessibility of renewable electricity, while EV charging networks support the shift towards low- carbon mobility. At the same time, the upgrading and modernisation of power grids enable the integration of distributed renewable generation and facilitate the broader adoption of electric mobility. Smart meters further contribute by empowering customers to optimise energy consumption, improve efficiency, and manage resources more sustainably.

Across the Group’s activities, “green activities”, defined as those eligible and aligned with the EU Taxonomy, represented 18% of total revenue in 2025. This marks a significant increase compared to the previous year, when such activities accounted for 13.5% of the Group’s revenue. In absolute terms, this progress corresponds to an increase of more than €33 million between 2024 and 2025, reflecting both the scaling of our solutions and growing market demand for low-carbon technologies.

NOTE: The figures reported above were calculated excluding the United Kingdom and the Connectivity activity in Spain for both years under review (2024 and 2025), to ensure direct comparability of results.

Looking ahead, the Group has established a new target for 2026, aiming for green activities to account for at least 19% of total revenue, representing a further increase of approximately 5.5% compared to 2025. This ambition reinforces our commitment to decarbonisation, innovation, and the delivery of solutions that support customers and communities in the transition to a more sustainable energy system.

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3.2.2.5. Objectives, Targets and Key Performance Indicators (KPIs)

Our Environmental Targets

At Solutions30, we are committed to reducing our carbon footprint and strengthening our contribution to the energy transition by expanding and diversifying our renewable energy solutions. Setting clear objectives, measurable targets, and key performance indicators (KPIs) enables us to monitor progress, drive continuous improvement, and ensure alignment with our CSR strategy and policy commitments. These metrics form the foundation for assessing our performance while ensuring transparency and accountability.

To align our core business activities with our sustainability ambitions, a significant milestone was reached in January 2026 with the official approval of our near-term greenhouse gas (GHG) emissions reduction targets by the Science Based Targets initiative (SBTi). This marked an important step forward in our sustainability journey.

The Solutions30 Group has committed to:
* Reducing absolute Scope 1 and 2 GHG emissions by 42% by 2030, using 2023 as the base year.
* Reducing absolute Scope 3 GHG emissions by 25% by 2030, using the same base year.

These ambitions focus on the areas where the Group can exert the greatest influence, both through our own operations and through collaboration with suppliers, partners, and clients.The approval of these targets provides strong external validation of the efforts undertaken across the Group and demonstrates our commitment to taking meaningful, measurable action to reduce our environmental footprint and contribute to global climate action. This recognition represents an important step in the implementation of our sustainability strategy and reinforces our long-term commitment to responsible and climate-aligned growth.

3 Environmental Targets for 2026

The Solutions30 Group defines a comprehensive set of ESG objectives, targets and KPIs each year, as outlined in Subchapter 3.1.5. These indicators guide our sustainability strategy and ensure that our commitments remain measurable, transparent and aligned with both regulatory requirements and our long‑term vision. For 2026, the Group has established a focused set of environmental targets aligned with our science‑based decarbonization pathway and the ongoing expansion of our environmentally sustainable activities:

• GHG emissions (Scope 1): 27% reduction compared with 2023, our SBTi validated base year. This target reflects our continued efforts to decarbonise our operations by improving fleet efficiency, increasing electrification and promoting responsible driving behaviours.
• GHG emissions (Scope 2): 21% reduction compared with 2023. Achieving this will depend on increasing the share of electricity sourced from 100% renewable origins across all Group entities, in line with the SBTi requirement to report using the market based method.
• Green Activities: ≥ 19% of total Group revenue. “Green activities” correspond to activities eligible and aligned with the EU Taxonomy, including renewable energy deployment (e.g., solar installations), electric vehicle charging infrastructure, smart metering, and electrical grid upgrading and modernisation. This target represents continued growth compared with 2025 and reinforces our ambition to expand our contribution to the climate transition.

Environmental Targets Set for 2026

Solutions30 | Annual Report 2025 95

Blow is a summary of the objectives, targets, and KPIs for 2026 related to the “Climate Change”:

Strategy Pillar / Commitment	Objectives for 2026 - Group Level	Target/ Threshold for 2026	KPI
Reduce the environmental impact of our activities	Achieve a cumulative 27% reduction in absolute GHG emissions (Scope 1) by 2026 compared to the 2023 baseline.	$22,467 \text{ tCO}_2\text{e}$	Total GHG emissions (Scope 1).
	Achieve a cumulative 21% reduction in absolute GHG emissions (Scope 2) by 2026 compared to the 2023 baseline.	$630 \text{ tCO}_2\text{e}$	Total GHG emissions (Scope 2) - Market-based calculation
Contributing to a low- carbon economy by delivering solutions that drive and support the energy transition	Increase the percentage of Green Activities* of Solutions30 revenue in	5.5% compared to 2025	19% Total green activities divided by the Group’s total revenue

*Green activities = eligible and aligned with the EU Taxonomy

At the same time, annual objectives are established for all countries in which the Group operates, tailored to the specific activities, operational contexts and local realities of each one. These country‑level objectives are fully aligned with the Group’s overarching commitments, ensuring that their achievement contributes directly to the delivery of our global ESG targets. All these KPIs are monitored on a monthly basis, allowing us to closely track progress, identify deviations early and implement corrective actions when necessary.

■ Other important performance indicators defined and monitored

In addition to KPIs with associated targets, the Group monitors a set of KPIs related to the "Climate Change" topic, which, although not having quantified targets, are regularly tracked, with actions taken if any trends deviate from the Group’s guidelines and expectations. Every month, the ESG team collects a wide range of relevant data to analyze the company’s performance in this area and reports internally on progress.

Strategy Pillar / Commitment	Topic	KPI	Monitoring frequency
Reduce the environmental impact of our activities	Energy	• Energy consumption • Percentage of renewable energy • Natural gas consumption	Monthly
	Sustainable mobility	• Fuel consumption by type of fuel • Gas consumption • Evolution of fleet electrification	Monthly

Energy Consumption % Renewable energy Fuel Consumption Fleet Electrification

Solutions30 | Annual Report 2025 96

3.2.2.6. Carbon Footprint

In 2024, we initiated a comprehensive project to define absolute GHG emission reduction targets based on the Science Based Targets initiative (SBTi) framework. As part of this initiative, Solutions30 engaged a specialised carbon footprint consultancy to support the definition of our targets and the development of the corresponding action plan to achieve them. A key early step in this project was the verification and validation of the data collected, the methodology applied, and the calculations performed by the ESG team, as well as the carbon footprint results for 2023. This independent verification enhanced the accuracy, credibility and transparency of the information disclosed by Solutions30, strengthening the confidence of all our stakeholders. It also ensured full alignment between our methodology and the requirements of the SBTi framework.

For the calculation of our carbon footprint, we apply the GHG Protocol, an internationally recognised standard for measuring, reporting and managing greenhouse gas emissions across both private and public sector activities. The same GHG Protocol methodology was consistently applied for the 2025 carbon inventory, ensuring comparability of results over time and reinforcing the robustness of our year on year analysis. Below, we present Solutions30’s carbon footprint for the 3 year 2025, reported in accordance with the GHG Protocol framework:

The GHG Protocol categorizes emissions into three scopes:

• Scope 1: Direct emissions from company-owned or controlled sources.
• Scope 2: Indirect emissions from purchased electricity and energy consumption (market-based).
• Scope 3: Indirect emissions from the value chain, including suppliers/ subcontractors and product usage.

These emissions are measured in tons of carbon dioxide equivalent ($\text{tCO}_2\text{e}$), which accounts for the varying global warming potentials of different greenhouse gases. As illustrated in the image above, 18.4% of our total carbon footprint comes from Scope 1, primarily driven by $\text{CO}_2$ emissions from our vehicle fleet. Scope 2 accounts for our electricity consumption, while Scope 3 is largely dominated by emissions from Purchased Goods & Services. Within Scope 3, the procurement of services from our subcontractors represents the largest share of our indirect emissions.

The 2025 Carbon Footprint Inventory was prepared in accordance with the GHG Protocol, which Solutions30 has adopted as its reference framework for greenhouse gas accounting since the 2023 reporting cycle. As part of our project to submit our near term targets to the Science Based Targets initiative (SBTi), we engaged an external expert company to review and assess our carbon accounting methodology. This assessment enabled us to identify previously unaccounted emission sources and to select the most appropriate emission factors for calculating our carbon footprint.

In the 2025 inventory, we expanded the scope of our reporting to include emissions from Scope 3 Category 11 (“Use of sold products”), insofar as they apply to our activities. These emissions relate to the installation processes carried out at our clients’ premises or at end customer locations. Although these emissions represent a relatively small share of our overall footprint (approximately 0.2% in 2025), the 2023 and 2024 inventories were also restated to incorporate this category. As a result, the emissions associated with our base year (2023), which were communicated to the SBTi and underpin our near term targets, now fully reflect this additional emission source. To ensure the robustness and reliability of the updated inventory, the revised 2023 and 2024 carbon footprint figures were reviewed and validated by an independent third party. This external verification confirms our alignment with the GHG Protocol and, consequently, our compliance with the methodological requirements set by the SBTi.

Solutions30 | Annual Report 2025 97

The table below provides a review of GHG emissions by scope for three last years:

Greenhouse Gas emissions (GHG)	2023 ($\text{tCO}_2\text{e}$)	2024 ($\text{tCO}_2\text{e}$)	2025 ($\text{tCO}_2\text{e}$)	Difference 2025 vs 2023
Scope 1
Total GHG direct emissions	30,777	28,204	23,306	(24.3)%
Direct emissions (mobile and stationary combustion)	30,145	27,873	23,218	(23.0)%
Fugitive Emissions	632	330	88	(86.1)%
Scope 2
Indirect GHG emissions: location-based	585	645	647	10.6%
Indirect GHG emissions: market-based	797	660	675	(15.3)%
Scope 3
Total GHG emissions (indirect emissions)	132,894	113,508	102,633	(22.8)%
01: Purchased Goods & Services	92,456	91,565	87,253	(5.6)%
02: Capital Goods	10,889	4,218	1,626	(85.1)%
03: Fuel & Energy-related Activities	7,487	6,923	5,791	(22.7)%
04: Upstream Transportation & Distribution	8,173	1,659	1,552	(81.0)%
05: Waste Generated in Operations	2,132	2,182	3,022	41.7%
06: Business Travel	6,010	2,793	801	(86.7)%
07: Employee Commuting	5,152	3,852	2,350	(54.4)%
08: Upstream leased assets*	0	0	0	—%
09: Downstream transportation and distribution*	0	0	0	—%
10: Processing of sold products*	0	0	0	—%
11: Use of sold products	596	317	239	(59.9)%
12: End-of-life treatment of sold products*	0	0	0	—%
13: Downstream leased assets*	0	0	0	—%
14: Franchises*	0	0	0	—%
15: Investments*	0	0	0	—%
Scope 1+2
Total GHG emissions (location-based)	31,362	28,849	23,953	(8.3)%
Total GHG emissions (market-based)	31,574	28,863	23,981	(9.0)%
Scope 1+2+3
Total GHG emissions (location-based)	164,256	142,357	126,586	(14.8)%
Total GHG emissions (market-based)	164,468	142,372	126,614	(15.0)%

*Not applicable to Solutions30 activities Important notes onthe results obtained and on the variations compared with previous inventories The following section outlines a number of important considerations regarding the results obtained and the main variations observed when compared with previous carbon footprint inventories.

Group wide results:

The figures presented above represent the total Carbon Footprint Inventory of the Solutions30 Group and also include all emissions from both the United Kingdom and the Connectivity activity in Spain. As our 2023 base year encompasses these two countries entire activities, we considered it appropriate, particularly for assessing genuine year on year reductions, not to exclude the UK and Spanish Connectivity emissions from the 2025 inventory. It is important to highlight that, in 2025, the combined contribution of the UK and the Spanish Connectivity activity accounted for only 2.3% of the Group’s total GHG emissions. Emissions from our UK operations represented just 1.4% of the Group total, while emissions from the Connectivity activity in Spain represented 0.9%. Given these proportions, the 5% threshold that would trigger a mandatory recalculation of our 2023 base year, and consequently an update to our near term targets submitted to and approved by the SBTi, was not approached.

Below, we present the overall GHG emissions excluding the UK and the Connectivity activity in Spain:

Greenhouse Gas emissions (GHG)	Without UK and Spain (connectivity) 2025 (tCO₂e)
Scope 1 Total GHG direct emissions	23,021
Scope 2 Indirect GHG emissions (LB)	635
Indirect GHG emissions (MB)	673
Scope 3 Total GHG emissions (indirect emissions)	99,993
Scope 1+2+3 Total GHG emissions (LB)	123,649
Total GHG emissions (MB)	123,687
LB: Location-based; MB: Market-based

Solutions30 | Annual Report 2025 98

Electricity consumption: electricity consumption increased in 2025, largely due to the growing number of full electric and plug in hybrid vehicles in the Group’s fleet. This resulted in higher GHG emissions under the location based calculation method. However, when assessed under the market based approach, emissions decreased, this means, a positive outcome that reflects the Group’s increasing procurement of renewable electricity, which is progressively offsetting the rise in consumption.

Capital goods: emissions from Capital Goods fluctuate from year to year because they relate to long lived assets, which are not renewed or replaced annually. Variations therefore depend on the timing and scale of specific investment cycles.

Upstream Transportation & Distribution: a significant reduction in emissions was observed for Upstream Transportation & Distribution, primarily driven by a marked decrease in land transport services used across the Group.

Business travel: a substantial decrease in emissions from Business Travel was recorded in 2025, reflecting a notable reduction in travel activity, particularly regarding accommodation and catering services. Since 2024, Group guidelines have prioritised remote meetings whenever possible, limiting physical travel and contributing directly to this downward trend.

Waste: Although the Group’s overall operational activity decreased in 2025 compared with 2024, emissions associated with waste increased. This rise is explained by the implementation of a more rigorous and comprehensive data collection process, which improved accuracy and captured emissions that were previously underestimated.

Employee commuting: To calculate Employee Commuting emissions for 2025, the Group conducted a survey across nearly all countries, enabling a more accurate determination of employees’ average daily commuting distance, the modes of transport used, and the number of teleworking days. This enhanced data collection significantly improved the accuracy of the calculation method and reduced the uncertainty compared with the estimates used in 2023 and 2024.

■ Estimates and Extrapolations Applied

In Scope 2 for France and in some Scope 3 categories, it was necessary to apply estimates and extrapolations to calculate the GHG emissions of certain countries where data were unavailable or incomplete. Whenever estimation was required, the methodology relied on actual data from countries with similar operational profiles, ensuring that the resulting calculations remained as robust and representative as possible. All estimates and extrapolations were performed using annual revenue and/or total workforce as the primary scaling criteria, depending on the nature of the activity and data category. These parameters were selected because they provide a reliable and consistent basis for proportional allocation when real consumption data or other physical data are not fully accessible.

A practical example of this approach concerns electricity consumption in France. In many French facilities, electricity charges are included within rental agreements, and landlords do not systematically provide monthly consumption figures. As a result, it was not possible to collect complete and verifiable electricity‑use data for 2025. To address this gap, we applied the kWh‑per‑employee ratio from Belgium,a country with comparable operational characteristics, to estimate France’s electricity consumption for the year. Should it be possible to obtain the actual data for any of 3 the values currently estimated or extrapolated, these figures will be reviewed, updated and transparently disclosed in the 2026 Sustainability Statement.

■ Out‑of‑Scope GHG Emissions

In 2025, Solutions30 began partially replacing conventional diesel with HVO (Hydrotreated Vegetable Oil) in its fleet. HVO is a renewable fuel that, when burned, emits biogenic CO₂ emissions that fall under the category of Out‑of‑Scope emissions according to the GHG Protocol. Out‑of‑Scope emissions refer to biogenic CO₂ emissions released from the combustion of biofuels. These emissions are not included in an organisation’s total carbon footprint because the CO₂ released originates from biological sources that are part of the short carbon cycle, meaning the carbon was recently absorbed from the atmosphere during biomass growth. For this reason, these emissions are reported separately, ensuring transparency while avoiding double counting in the inventory.

In 2025, the Out‑of‑Scope emissions associated with our annual HVO consumption amounted to:
* HVO (Out‑of‑Scope emissions): 74.54 tCO₂e.

Methodological note: For the calculation of these Out‑of‑Scope emissions, we used the UK Government GHG Conversion Factors published by the Department for Energy Security & Net Zero (DESNZ).

■ Emissions Intensity (tCO2e/M€)

Since 2023, we have monitored an GHG emissions intensity indicator, recognising that our GHG emissions are closely linked to fluctuations in Group revenue. Tracking emissions intensity allows us to better understand the relationship between our operational activity and the emissions generated, while ensuring comparability across years and business units. The table on the next page provides a detailed overview of GHG‑emission intensities for 2023, 2024 and 2025, presented by scope. The figures use the market‑based method for Scope 2, in full alignment with the GHG Protocol requirements, ensuring comparability and methodological consistency across reporting years.

Solutions30 | Annual Report 2025 99

Greenhouse Gas emissions (GHG) in tCO₂e/M€ or tCO2e/employee	2023 (tCO2e)	2024 (tCO2e)	2025 (tCO2e)	Diference 2025 vs 2023
Scope 1
GHG emissions intensity by revenue	29.12	28.32	25.47	(12.5)%
GHG emissions intensity by employee	4.26	4.1	3.84	(9.9)%
Scope 2
GHG emissions intensity by revenue	0.75	0.66	0.74	(1.3)%
GHG emissions intensity by employee	0.11	0.10	0.11	—%
Scope 1+2
GHG emissions intensity by revenue	29.87	28.98	26.21	(12.3)%
GHG emissions intensity by employee	4.37	4.19	3.95	(9.6)%
Scope 3
GHG emissions intensity by revenue	125.73	113.96	112.17	(10.8)%
GHG emissions intensity by employee	18.39	16.5	16.9	(8.1)%
Scope 1+2+3
GHG emissions intensity by revenue	155.6	142.94	138.38	(11.1)%
GHG emissions intensity by employee	22.76	20.69	20.85	(8.4)%

3 The chart below provides a year‑over‑year comparison of GHG‑emission intensity per million euros of revenue, illustrating the evolution of Scope 1, Scope 2 (market‑based), Scope 3, and total Scope 1+2+3 intensities across 2023, 2024 and 2025. The 2025 results confirm a continued downward trend in GHG emissions also in relative terms, measured in tonnes of CO₂e per million euros of revenue. This improvement has been consistently observed since 2023 and demonstrates the effectiveness of the measures implemented under our decarbonisation programme.

Summary of 2025 Results:
* Scopes 1 and 2: In 2025, we achieved a 9.6% reduction compared with 2024, corresponding to a cumulative reduction of 12.3% relative to the 2023 base year.
* Scopes 1, 2 and 3 (total carbon footprint): In 2025, we recorded a 3.2% reduction compared with 2024, resulting in a cumulative reduction of 11.1% relative to the 2023 base year.

These results demonstrate that Solutions30 is not only reducing emissions in absolute terms, but also improving carbon efficiency, meaning that the Group is generating less CO₂e per unit of economic value created. This reinforces the robustness of our decarbonisation strategy

Solutions30 | Annual Report 2025 100

Carbon Footprint Evolution

Absolute Emissions Analysis

In 2025, the Group’s absolute GHG emissions (all scopes) decreased by 11% compared with 2024 and by 23% compared with 2023, our SBTi validated base year. For Scopes 1 and 2, absolute emissions decreased by 17% compared with 2024, a reduction more than twice as significant (in percentage terms) as the decline in revenue over the same period. Compared with the base year (2023), the absolute reduction achieved in 2025 reached 23%, a meaningful decrease despite a 13.4% reduction in revenue between 2023 and 2025.This demonstrates that the Group was able to achieve real decoupling between emissions and economic activity, reducing emissions at a faster rate than the decline in revenue.

Absolute GHG Emissions Graphs & Trend

Relative Emissions Analysis

In relative terms, expressed as carbon intensity (tCO₂e per €M of revenue), we also achieved significant improvements in 2025. Compared with 2023:
* For Scopes 1, 2 and 3 combined, carbon intensity decreased by 11.1%.
* For Scopes 1 and 2, the reduction was even more substantial, reaching 12.3%.

These results confirm that the Group is generating less GHG emissions per unit of economic value, demonstrating continued efficiency gains and improved carbon management across operations.

GHG Intensity Emissions Graphs & Trend

Conclusion

In theory, a reduction in business activity should naturally result in lower GHG emissions, a trend that is clearly reflected when examining total emissions across all three scopes. However, when focusing specifically on Scopes 1 and 2, the relationship is less direct. The decrease in overall activity increased the relative share of work carried out by our in house technicians (whose emissions fall under Scope 1), while significantly reducing activities performed by subcontractors (whose emissions fall under Scope 3).

Against this backdrop, it is particularly positive that the percentage reduction in Scopes 1 & 2 emissions significantly exceeded the percentage decrease in revenue. This outcome highlights improved operational efficiency and a tangible absolute reduction in direct GHG emissions, rather than reductions driven solely by decreased activity.

We attribute these reductions in GHG emissions to three main factors:
1. Implementation of decarbonisation measures outlined in Section 3.2.2.4, particularly:
* The planned electrification of our vehicle fleet, especially in countries with more developed EV charging infrastructure,
* The optimisation of technicians’ routes,
* The use of HVO biofuel.
2. A reduction in Group activity levels between 2023 and 2025, supporting the decrease in overall emissions.
3. Strengthened sustainable mobility initiatives, including:
* A structured and effective sustainable mobility policy
* Enhanced Eco driving training programmes,
* Ongoing ESG awareness initiatives among employees.

Collectively, these measures demonstrate that Solutions30 is not only reducing emissions in response to lower activity, but is also achieving structural, efficiency based and technology driven emission reductions aligned with its long term decarbonisation commitments.

Solutions30 | Annual Report 2025 101

Fleet of Vehicles

In 2025, we continued to reduce the overall number of vehicles in our fleet compared with the previous year, with a notable decrease in internal combustion vehicles. This reduction was driven primarily by a decline in diesel vehicles, which accounted for the majority of the decrease; the remainder related to gasoline and conventional hybrid (HEV) vehicles. At the same time, we significantly increased the number of battery electric (BEV) and plug in hybrid (PHEV) vehicles, continuing the gradual and prudent electrification of our light vehicle fleet.

Compared with last year, the share of BEVs and PHEVs rose by 14.3%. By December 2025, BEV and PHEV vehicles represented 9.4% of the Group’s total fleet, up from 8.2% in 2024. When including conventional hybrids, the share reached 13.6% in 2025, versus 11.0% in 2024.

The evolution of our fleet composition demonstrates our ongoing commitment to electrification, the modernisation of our mobility strategy, and the reduction of operational GHG emissions. In addition to lowering tailpipe emissions, the increased deployment of electric vehicles supports progress towards our science based targets.

Methodological note: the fleet figures refer exclusively to light vehicles and exclude heavy goods vehicles, which account for 2.9% of the Group’s total fleet. In addition, for the sake of transparent year‑on‑year comparability, the figures exclude vehicles from the UK and from Spain (Connectivity activity) for both 2025 and 2024.

Below is a summary of the key developments in our vehicle fleet:

FLEET OF VEHICLES	2023	2024	2025	Diference 2025 vs 2024
Percentage of full electric vehicles and plug-in hybrids	3.4%	8.2%	9.4%	14.6%
Percentage of combustion vehicles (including regular hybrids)	96.6%	91.8%	90.6%	(1.3)%

Other air pollutants

In 2025, the Solutions30 fleet continued to demonstrate meaningful progress in reducing overall air emissions, supported by improvements in fleet composition, increased electrification, and ongoing optimisation of operational routes. Compared with both 2024 and the SBTi base year (2023), the 2025 results show clear positive trends, particularly in the reduction of NOx emissions and in overall air-emissions intensity. Although certain pollutants increased in specific segments, notably CO and PM2.5, these changes are explainable and linked to the evolving composition of the fleet. Importantly, total air emissions per kilometre travelled continued to decline, confirming tangible improvements in efficiency and environmental performance.

Main indicators
* In 2025, total kilometres driven decreased by 16.2%, compared with 2024.
* Absolute NOx emissions decreased significantly by 22% compared with 2024, and by 30% compared with 2023. Given that NOx represented, on average, 80% of Solutions30’s total air emissions (CO, NOx and PM2.5), this constitutes a strong environmental achievement, particularly considering the harmful impact of NOx on air quality.
* Overall fleet air-emissions intensity improved again, decreasing by 1.2% versus 2024 and continuing the downward trend observed since 2023.
* NOx intensity decreased by 6.5%, compared with 2024, reinforcing both operational and environmental efficiency gains.
* CO emissions increased by 28%.
* PM2.5 emissions increased by 13%.

Solutions30 | Annual Report 2025 102

Explaining the increases
The increases in CO and PM2.5 are primarily linked to the growing share of gasoline-based hybrid vehicles in the fleet. Gasoline engines emit more CO and PM2.5 per litre than diesel engines, and hybrid vehicles rely on gasoline for part of their operation. As a result, even as fleet electrification progresses, a temporary rise in CO and PM2.5 emissions can be expected when diesel units are replaced with gasoline hybrids in certain geographies where full electrification is not yet operationally feasible.

Overall conclusion
The 2025 fleet emissions analysis demonstrates clear progress in several critical pollutants, particularly NOx, as well as continued improvement in overall air-emissions intensity, confirming that the Group is moving towards a more efficient and cleaner fleet. The temporary increases in CO and PM2.5 are fully explainable and primarily linked to the evolving fleet mix, notably the expansion of gasoline hybrid vehicles in markets where full electrification is not yet operationally viable. This transition phase is expected and remains aligned with the Group’s long-term decarbonisation pathway.

These results, combined with ongoing fleet electrification, route optimisation, the adoption of HVO in multiple countries, and enhanced eco-driving practices, reinforce that Solutions30 is progressing in the right direction and strengthening its trajectory towards its SBTi-aligned emission-reduction targets.

The tables and charts below present the absolute values and intensity of CO, NOx and PM2.5 emissions over the past three years.
3
To ensure alignment with the Group’s financial reporting scope, all figures presented exclude the UK and also Spain Telecom business unit. For this reason alone, the values shown in the tables below for 2023 and 2024 differ from those previously disclosed in the 2024 Annual Report.

Emissions of Nitrogen Oxides (NOx), Carbon Monoxide (CO) and Particulate Matter 2.5 (PM 2.5) in absolute value.

PASSENGERS CARS EMISSIONS (1)

	2023	2024	2025	2025 vs 2024
CO (kg)	3,067	2,847	2,695	(5.4)%
NOx (kg)	8,700	7,196	4,675	(35.0)%
PM 2.5 (kg)	7.1	7.9	7.1	(9.6)%

EMISSIONS FROM VANS AND TRUCKS (1)

	2023	2024	2025	2025 vs 2024
CO (kg)	7,361	6,344	7,155	12.8%
NOx (kg)	48,197	43,342	34,901	(19.5)%
PM 2.5 (kg)	34.5	28.3	27.1	(4.2)%

TOTAL NOx, CO, AND PM 2.5 EMISSIONS FOR THE ENTIRE FLEET (1)

	2023	2024	2025	2025 vs 2024
CO (kg)	10,428	9,191	9,850	7.2%
NOx (kg)	56,897	50,538	39,576	(21.7)%
PM 2.5 (kg)	41.6	36.2	34.2	(5.4)%

Solutions30 | Annual Report 2025 103

Emissions of nitrogen oxides (NOx), carbon monoxide (CO) and particulate matter 2.5 (PM 2.5) per 1000 km:

ENTIRE FLEET: EMISSIONS PER 1000 KM OF NOx, CO AND PM 2.5 ICP (kg/1000 km) (1)

	2023	2024	2025	2025 vs 2024
CO (kg/Mkm)	0.080	0.078	0.095	21.8%
NOx (kg/Mkm)	0.436	0.428	0.403	(5.8)%
PM 2.5 (kg/Mkm)	0.0003	0.0003	0.0003	—%
Total atmospheric emissions (kg/Mkm)	0.517	0.506	0.499	(1.4)%

(1)Source : To calculate the emissions of CO, NOx, and PM2.5, the emission factors from the European Environment Agency - Air Pollutant Emission Inventory Guide 2023 (updated in 2024) were used. The values presented for the years 2023, 2024 and 2025 were calculated using the "Tier 2" methodology.
3
Solutions30 | Annual Report 2025 104

Energy management and energy efficiency

Energy efficiency and conservation offer both economic and environmental benefits. As a key enabler of the energy transition, Solutions30 is deeply committed to reducing energy consumption within the Group and contributing to the preservation of natural resources. To enhance its energy efficiency efforts and mitigate environmental impact, Solutions30 has implemented an environmental management system aligned with ISO 14001, ensuring a structured approach to continuous improvement in energy efficiency and pollution prevention.The Group’s commitment to energy efficiency and conservation extends beyond fleet management and encompasses various aspects of daily operations, including reducing energy consumption for lighting, air conditioning, office equipment (laptops, desktop computers, photocopiers), and other electrical appliances. Key initiatives include:
* Employee Awareness – Regular reminders encourage employees to turn off electrical devices and lights when not in use, particularly at the end of the workday.
* Energy-Efficient Equipment – Kitchens are equipped with energy-efficient appliances, including refrigerators, dishwashers, and microwaves.
* Responsible Air Conditioning Usage – Air conditioning is used efficiently to minimize energy waste.
* Efficient Lighting – Energy-efficient light bulbs are used across facilities to reduce overall electricity consumption.

Through these measures, Solutions30 reinforces its commitment to sustainability, operational efficiency, and responsible resource management, aligning with global best practices in energy conservation.

TOTAL ANNUAL CONSUMPTION

Type of energy	Unit	2023	2024	2025	2025 vs 2024
Diesel	L	10,187,313	9,354,404	7,788,990	(17)%
Petrol	L	1,222,786	1,482,835	1,460,207	(2)%
Electricity	kWh	3,084,937	3,238,247	3,257,632	1%
Natural Gas	m3	97,232	134,116	118,779	(11)%

ENERGY CONSUMPTION AND MIX

Unit	2023	2024	2025	2025 vs 2024
Fossil Energy
Fuel consumption from coal and coal products	MWh	_	_	_
Fuel consumption from crude oil and petroleum products	MWh	111,982	105,922	90,136
Fuel consumption from natural gas	MWh	1,046	1,443	1,278
Fuel consumption from other fossil sources	MWh	_	_	_
Consumption of purchased or acquired electricity, heat, steam, and cooling from fossil sources	MWh	2,067	1,855	1,866
Total fossil energy consumption	MWh	115,095	109,220	93,280
Share of fossil sources in total energy consumption	%	99.1%	98.7%	98.5%
Renewable Energy
Fuel consumption for renewable sources, including biomass (also comprising industrial and municipal waste of biologic origin, biogas, renewable hydrogen, etc.)	MWh	_	_	_
Consumption of purchased or acquired electricity, heat, steam, and cooling from renewable sources	MWh	1,018	1,383	1,392
The consumption of self-generated non-fuel renewable energy	MWh	_	_	_
Total renewable energy consumption	MWh	1,018	1,383	1,392
Share of renewable sources in total energy consumption	%	0.9%	1.3%	1.5%
TOTAL ENERGY CONSUMPTION	MWh	116,113	110,604	94,672
Energy Intensity (MWh/M€ Revenue) (Total energy consumption/Total revenue in millions of euros)	MWh/M€	118.94	117.26	106.31

• Please read the additional information in the next page.

Solutions30 | Annual Report 2025 105

Additional Information:
– “The data refers to the energy consumption of the Solutions30 Group and is aligned with the entities included in the financial report, which means that the values relating to the UK and to the connectivity activity in Spain were not considered in the annual figures presented for 2023, 2024 and 2025.
– Regarding the total electricity consumption of the entities in France, obtaining actual values was not possible in many cases, as electricity costs are often included in building rental agreements. Given this limitation, and considering that operations in France account for more than 33% of the Group’s revenue,we estimated the electricity consumption based on the average consumption per employee. To achieve this, we used the annual average electricity consumption per employee in Belgium (the second country in the Group in terms of revenue) and calculated the total electricity consumption for France by multiplying this average by the total number of employees in France.
– The 2024 electricity total consumption figure has been corrected compared with the value previously reported in the 2024 Annual Report. Last year, due to an oversight, the total electricity consumption disclosed did not include the electricity used to charge electric vehicles at public charging stations. As a result, the updated figure presented in this Annual Report, although still excluding consumption from the UK and the Connectivity activity in Spain, is significantly higher than the value published in last year’s report.
3 – For the conversion of diesel and gasoline (liters), electricity (kWh), and natural gas (m³) into Megawatt-hour (MWh), we applied the conversion factors provided by the International Energy Agency (https://www.iea.org).

Summary of energy consumption and energy efficiency results (2023 - 2025):

In 2025, total energy consumption decreased by 14.4% compared with 2024, falling from 110,604 MWh to 94,672 MWh, representing a reduction of 15,932 MWh. In absolute terms, the decrease in energy consumption was greater than the reduction in annual revenue (approximately 5.6%), highlighting a continued improvement in the Group’s overall energy efficiency. Compared with 2023, total energy consumption in 2025 declined by 18.5%. The Group achieved a significant reduction in diesel consumption and recorded a slight decrease in gasoline consumption. Electricity consumption increased marginally, reflecting the continued growth in the number of electric vehicles within our fleet. In relative terms (energy intensity), Solutions30 continued to improve its energy performance, achieving a 9.3% reduction in energy intensity compared with 2024 and 10.6% compared with 2023.

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■ Green Electricity versus Grey Electricity
* Green Electricity: Green electricity refers to electricity generated from renewable energy sources that have minimal environmental impact and produce little to no greenhouse gas emissions. These sources include wind, solar, hydro, geothermal, and biomass energy.
* Grey Electricity: Grey electricity is electricity produced from non-renewable energy sources, primarily fossil fuels such as coal, oil, and natural gas. The generation of grey electricity typically results in significant carbon dioxide ($\text{CO}_2$) and other greenhouse gas emissions, contributing to climate change and environmental pollution.

In line with the methodology applied in the previous year, in 2025 we carried out a new assessment of the energy mix associated with the electricity purchased and consumed by the Solutions30 Group, broken down by country and by company (in Belgium and Portugal). We successfully collected this information for all countries in which the Group operates, with the exception of France. In France, due to the large number of sites, particularly warehouses, and the difficulty in obtaining reliable information from landlords, we opted to use the percentage of renewable electricity published by Eurostat. Accordingly, we considered that 30% of all electricity purchased by Solutions30 in France originates from 100% renewable energy sources. The countries for which we obtained detailed data on the share of green electricity represent approximately 63% of the Group’s total electricity consumption. Given this level of coverage, we consider the dataset sufficiently representative for the analysis presented below. In 2025, two Group countries, The Netherlands and Spain, procured only green electricity for their offices and warehouses. However, the exclusion of the Connectivity activity in Spain from the reported data, to align with the financial reporting perimeter, had a negative impact on the Group’s overall percentage of green electricity consumption. Based on the collected information, and excluding the Connectivity activity in Spain, we conclude that 43% of all electricity purchased and consumed in 2025 was green electricity, meaning it was sourced entirely from renewable energy sources. The remaining 57% corresponded to electricity purchased from non renewable sources (“grey energy”).

3 As previously mentioned, several of our entities have already transitioned to sourcing 100% green electricity, and we remain committed to significantly increasing this share in the coming years. This objective is fully aligned with our commitment to the Science Based Targets initiative (SBTi), particularly our Scope 2 emission reduction target, which was formally submitted in October 2025 and approved in January 2026. Given the expected and progressive increase in electricity consumption between 2025 and 2030, driven primarily by the electrification of our vehicle fleet, it will be essential to increase the proportion of electricity purchased from renewable energy sources. This is a critical enabler that will allow the Group to accommodate higher electricity demand while simultaneously reducing its Scope 2 GHG emissions. In line with this strategic direction, a specific Scope 2 reduction target has been set for 2026, intentionally defined as a stand alone objective and not combined with Scope 1 reductions. In practical terms, for 2026 we aim to achieve a minimum reduction of 7% in Scope 2 GHG emissions compared with 2024, which corresponds to a cumulative reduction of 21% relative to our base year (2023). Increasing the consumption of green electricity will therefore remain a key pillar in achieving this target and reinforcing the Group’s long term commitment to sustainability and carbon footprint reduction.

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3.2.3. Other Environmental Topics

3.2.3.1. Resource use and Circular economy

According to the double materiality assessment conducted in 2024, the topics “Circular economy, use of resources and waste management,” “Air, soil and water pollution,” “Water consumption,” and “Biodiversity and ecosystems” were not considered material due to the nature of our business sector and the activities we undertake. Although “Resource use and circular economy” was not identified as a material topic in this assessment, we acknowledge its broader significance in the sustainability landscape.The assessment determined that this topic has low impact materiality for the Group, as well as low financial materiality. However, we recognize the importance of maintaining transparency on key aspects such as energy consumption and efficiency, waste management, and circular economy initiatives. Our continued efforts in these areas reflect our commitment to responsible resource management, operational efficiency, and the promotion of sustainable practices that support long-term environmental and economic resilience. ■

Waste management

As part of our commitment to sustainability, we implement a structured and compliant waste management system that aligns with European regulations and industry best practices. Our approach is designed to minimize environmental impact by ensuring the proper handling, segregation, and disposal of waste while promoting recycling and circular economy principles.

Regulatory Compliance and Best Practices

We strictly adhere to the Waste Framework Directive (2008/98/EC) and classify all waste according to the European Waste List (EWL). This classification allows us to properly identify, segregate, and handle waste in compliance with legal requirements, ensuring a clear distinction between hazardous and non-hazardous materials. To maintain compliance, we collaborate with licensed waste management companies, ensuring that waste is processed through recycling, energy recovery, or safe disposal methods, depending on its nature and environmental impact.

A Group-wide waste management procedure is in place to ensure a standardized approach across all sites. This procedure defines responsibilities, best practices, and reporting obligations, ensuring compliance with environmental laws and corporate sustainability goals. Key aspects of the procedure include:
* Training and Awareness – Employees are trained on proper waste segregation and handling.
* Internal and External Audits & Compliance Checks – Annual ISO 14001 audits and regular internal audits verify our compliance with regulations and adherence to the group-wide waste management procedure.
* Continuous Improvement – We regularly review processes to enhance efficiency and environmental performance, in line with ISO 14001.

Waste Collection and Segregation

We have established a structured waste collection and segregation process across all our operational sites. Waste is separated at the source, and each type is labeled according to its EWL code, ensuring proper storage, handling, and transportation in line with environmental legislation and regulations.

Record-Keeping and Traceability

To ensure full transparency and regulatory compliance, all waste records are documented and maintained for regulatory inspections, corporate reporting, and sustainability assessments.

Responsible Waste Treatment and Disposal

Once collected and classified, waste is sent to authorized facilities that guarantee responsible treatment. Whenever possible, we prioritize recycling and material recovery, reducing our environmental footprint while promoting circular economy practices. When recycling is not feasible, we ensure that waste is safely disposed of in accordance with regulatory guidelines.

Commitment to Continuous Improvement

We continuously assess and improve our waste management processes through internal and external audits (e.g., ISO 14001), compliance checks, and employee training programs. By reinforcing best practices and raising awareness, we ensure that our teams actively contribute to waste reduction and sustainability enhancement.

Below is a table summarizing the waste generated by Solutions30 Group companies in 2025, presented in tons and as a percentage of the total waste produced:

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Type of Waste split by destination	Quantity (tons)	%
Waste Management Overview: In 2025, the vast majority of waste generated by the Group consisted of non-hazardous waste, accounting for over 90% of the total . Only than 9.6%, of the waste generated by our activities was classified as hazardous, in accordance with the European List of Waste. The hazardous waste primarily includes electrical and electronic equipment containing hazardous substances (16 02 13/ 16 02 14), as well as batteries (16 06 01*). Non-hazardous waste, on the other hand, is highly diverse. The largest share originates from civil works activities, with the most significant categories being: • Soil and stones (17 05 04) • Mixed inert waste (17 09 04) • Mineral waste (17 01 01) • Cables (17 04 11) • Non-hazardous bituminous mixtures (17 03 02) These five waste categories alone represented 83% of the total waste generated in 2025.
Hazard waste	664	9.6%
Preparation for reuse	279	4.1%
Recycling	134	1.9%
Other recovery operations
Incineration	251	3.6%
Landfill
Other disposal operations
Non-hazard waste	6,231	90.4%
Preparation for reuse	0	—%
Recycling	1,873	27.2%
Other recovery operations
Incineration
Landfill	4,356	63.2%
Other disposal operations	—%
Total*	6,895	3

Waste Disposal and Diversion Summary	Quantity (tons)	%
In 2025, 33% of the waste generated by the Group was recycled, while 67% was disposed of in landfills. This distribution reflects the specific characteristics of the waste produced across our operations. A significant share (61%) consists of non‑hazardous materials originating from civil works, such as soil, stones, inert residues, and mixtures of concrete, bricks, tiles, and ceramics. Although these materials are not hazardous, their physical composition and heterogeneity significantly limit their recycling potential. As a result, landfill disposal remains the predominant treatment route for this waste stream. The Group continues to work with certified waste management partners and seeks opportunities to increase recovery rates whenever technically and economically feasible.
Diverted from disposal	2,286	33.2%
Directed to disposal	4,609	66.8%

Recycled and non-recycled waste	Quantity (tons)	%
Total amount of recycled waste	2,286	33.2%
Total amount of non-recycled waste	4,609	66.8%

*NOTE: The total reported waste corresponds to the quantities disclosed by six countries within the Group, representing approximately 66% of the Group’s total revenue. It was not possible to obtain a complete overview of the total waste generated across the entire Group, particularly in France. For this reason, in 2026 we will restructure the waste‑data collection methodology within the Solutions30 France entities. This improvement will allow us to strengthen the consistency, completeness, and reliability of our environmental reporting. Consequently, in the 2026 Sustainability Statement, we aim to provide an even more comprehensive and rigorous waste overview, covering all countries and entities across the Group.

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■ Equipment Repair and Refurbishment (circular economy)

In partnership with its customers, Solutions30 is actively involved in a broad range of sustainability initiatives designed to extend the lifespan of electronic equipment and reduce waste generation. Over the past three years, the Group has repaired approximately 732,094 devices, including 544,333 computers and 187,761 printers, across France, Benelux, Italy, and Spain. Without the technical intervention of our teams, the vast majority of these devices would likely have been discarded, resulting in additional waste and increased demand for the production and logistics of new equipment.

In 2025, we repaired 246,933 devices (197,375 computers and 49,558 printers), maintaining a consistently high annual repair volume. Although total repairs decreased by 6% compared with 2024, performance in 2025 remained 2% above the average repair volume recorded in 2023– 2024 and 4% above the average of the three preceding years (2022–2024). This demonstrates both the resilience of our operations and the continued relevance of repair‑based solutions within our customers’ sustainability strategies.

These results highlight the significant contribution of our technical teams to circular‑economy practices, helping customers extend equipment lifecycles, avoid premature disposal, and reduce the environmental impact associated with manufacturing, transportation, and end‑of‑life treatment of electronic devices. Through these initiatives, Solutions30 not only supports environmental sustainability but also generates tangible operational benefits for its customers. Repairing and reusing equipment helps reduce costs related to spare parts and logistics while mitigating risks associated with supply chain disruptions. Furthermore, this approach aligns with the ESG commitments of both the Group and its customers, reinforcing responsible resource use and promoting more sustainable consumption patterns.

As part of our sustainability initiatives, we have also implemented a printer refurbishment programme in collaboration with one of our major customers in the IT sector. This initiative focuses on repairing, resetting, and restoring end‑of‑life printers to an “as‑new” condition, enabling their reuse in new business contracts. Since the programme was launched in 2024, we have successfully refurbished 1,181 printers, of which 793 were completed in 2025. Our Customer HP, has awarded Solutions30 with the Platinum Badge, the highest honor accorded by the HP CS Impact recognition program for HP suppliers.

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SOCIAL OWN WORKFORCE HEADCOUNT	AVERAGE 5,907
HIRING UNDER 30 YEARS OF AGE	39%
PERCENTAGE OF WOMEN IN MANAGEMENT POSITIONS	26.7% (100 women out of a total of 378 managers)
TRAINING HOURS	163,965 hours
	27.8 hours per employee

NOTE : The Group figures shown above exclude the UK data and the Spain Connectivity activity data.

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3.3 Social

3.3.1.# ESRS S1 – Own Workforce

3.3.1.1 Our approach and policies

The objective of our human resources framework is to:
* Establish and communicate a management model that enables Solutions30 to attract, develop, and retain talented employees.
* Foster the personal and professional growth of all employees by engaging them in the company’s success and ensuring their work is both secure and fulfilling.

This policy provides guidelines for labor relations across all countries where the Group operates. It serves as a reference for setting group-wide objectives, including professional selection, stable and quality employment, employee relations, workplace health and safety, training and development, and social dialogue. We regard human rights as fundamental to preserving dignity, freedom, and respect in our operations, the companies we collaborate with, and the communities we serve. Our commitment to human rights, including labor rights and the rights of local communities, is outlined in our human rights policy, in our code of conduct and in the code of conduct for business partners. Our approach to human resources management is rooted in respect for diversity, equal opportunities, and non-discrimination, while aligning employee interests with the Group’s strategic goals. At Solutions30, we consider our employees our most valuable asset, and we are committed to creating a productive, respectful, and creative workplace that promotes well-being and growth. This includes providing training opportunities and ensuring equal access to career advancement.

Key strategic priorities for Group Human Resources include:
* Recruiting young talent
* Focusing on training and skill development
* Ensuring employee health and safety, with an emphasis on reducing injuries
* Increasing the representation of women in management roles

These key strategic priorities for Group Human Resources are essential for ensuring the long-term success and sustainability of the organization. Recruiting young talent is crucial as it brings fresh perspectives and innovative ideas, helping to drive growth and adapt to changing market demands. Focusing on training and skill development ensures that employees continue to grow professionally, keeping the company competitive and fostering a culture of continuous improvement. Ensuring employee health and safety, with an emphasis on reducing injuries, not only protects the well-being of our workforce but also contributes to higher productivity and morale. Finally, increasing the representation of women in management roles is important for promoting gender equality, creating diverse leadership teams, and driving better decision-making across the organization. These priorities reflect our commitment to both employee development and a more inclusive, responsible, and high- performing work environment.

The Group has defined and implemented the following policies and codes of conduct related to ethics, human resources, and human rights:

■ Human Rights Policy: The Solutions30 Group Human 3 Rights Policy commits to upholding fundamental rights at work, aligning with international standards such as the UN Guiding Principles on Business and Human Rights, International Labor Organization’s (ILO), and OECD Guidelines for Multinational Enterprises. The company prohibits discrimination, child and forced labor, ensures freedom of association, promotes workplace safety, fair working conditions, equal pay, and prevents any form of harassment. Compliance is required from employees, suppliers, and partners, with corrective measures or contract termination in cases of non-compliance.

■ Human Resources Policy: The Solutions30 Group Human Resources Policy outlines the company’s commitment to fostering a productive, inclusive, and safe work environment. It emphasizes talent attraction, fair recruitment, diversity, equal opportunities, and employee development through training and career growth initiatives. The policy ensures compliance with labor laws, promotes health and safety, prohibits harassment, and upholds fair wages and ethical labor practices. Employees are encouraged to engage in open communication, and mechanisms for feedback and reporting violations are in place to maintain a respectful and transparent workplace culture.

■ Health and Safety Policy: Solutions30 Group integrates health and safety into its corporate culture, emphasizing a proactive and preventive approach for its employees and subcontractors. Committed to reducing and eliminating professional risks, the Group ensures compliance with regulations, continuous improvement, and implementation of safety guidelines. Employees and subcontractors are expected to actively engage in safety measures, report concerns, and adhere to updated procedures. A dedicated steering committee oversees health and safety strategies, focusing on people and road safety, best practices, well-being, training, and communication. The Group also follows ISO 45001/VCA** standards in key countries.

■ Whistleblower Policy: This policy ensures a transparent and ethical work environment by encouraging employees, partners, and stakeholders to report misconduct, including fraud, corruption, and legal violations, without fear of retaliation. It provides secure and confidential reporting channels, outlines the process for handling reports, and protects whistleblowers from discrimination. Investigations are conducted fairly, maintaining confidentiality while ensuring compliance with laws and company policies.

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■ Code of Conduct: This document outlines the company’s commitment to ethical behavior, compliance, and responsible business practices. It covers three main areas: societal responsibility, including respect for human rights, equal treatment, and environmental sustainability; business ethics, prohibiting corruption, conflicts of interest, and insider trading while promoting fair competition; and workplace responsibility, ensuring occupational safety, data protection, IT security, and proper asset management. The document is binding for employees and partners, with guidelines, examples, and a whistleblowing system to uphold integrity and corporate values.

All of our policies have been approved by the Management Board and are overseen by our Supervisory Board. These policies apply to all Group employees, subcontractors and other business partners. All our policies listed above can be consulted in our website at: www.solutions30.com. As part of this, we prioritize specific actions (e.g., training initiatives) to prevent, mitigate, and address any adverse human rights impacts related to our workforce and supply chain. At the same time, we have also defined and implemented a whistleblower policy and platform, which is available to anyone on the Solutions30 Group website. The whistleblower policy outlines the procedures by which individuals, who have reasonable grounds to believe that an incident of workplace malpractice is occurring or is likely to occur within the Solutions30 Group, can raise their concerns in a completely anonymous and confidential manner.

Eco-driving and road safety

On the other hand, Solutions30 has implemented a road safety and eco-driving policy. This policy aims to reduce work-related road accidents and promote a culture of safe and ecological driving within the organization through the following actions:
* Raising awareness among drivers about the main risks they face or create when commuting to work
* Ensuring that employees who drive vehicles for work always demonstrate safe and sustainable driving skills and habits
* Keeping all company vehicles clean, safe, and in good working condition to maximize the safety of drivers, passengers, and other road users while reducing the environmental impact of the company’s fleet
* Adopting eco-friendly driving behavior, as demonstrated in dedicated training sessions, to reduce greenhouse gas emissions and air pollution by lowering fuel consumption

3.3.1.2. Material Impacts, Risks and Opportunities (IRO)

In the image below, we present the materiality level of each sub-topic related to the topic “Own Workforce.” This aims to highlight the relative importance of each sub-topic, within the Solutions30 workforce strategy. The table below outlines the sustainability-related impacts, risks, and opportunities (IRO) identified and assessed as material through our double materiality assessment process. Specifically, it refers to the IROs associated with “Own Workforce (ESRS S1).” Within the table, we indicate the impacts and risks for our own operations. Additionally, we specify whether these impacts are positive or negative. Unless explicitly stated as potential impacts, all impacts are considered actual.

ESRS S1 – Own Workforce

Material Impact, Risk or Opportunity	Description	Positive Impact
Health and safety for employees	Secure employment and workplace for our employees. We prioritize providing employees with a secure and equitable work environment, by prioritizing compliance with the highest standards, including ISO 45001 and VCA certifications. With over 72% of our employees covered by a certified health and safety management system, we continuously strive to create a workplace where well-being is paramount. Our workplace promotes flexibility, enabling employees to maintain a healthy balance between their professional and personal lives in collaboration with their managers.	Yes
Training and skills development
Attractiveness and retention	Equal treatment and opportunities for all We are dedicated to ensuring equal opportunities for all, regardless of ethnicity, gender, religion, race, age, disability, sexual orientation or social standing.	Yes

ESRS S1 – Own Workforce

• Health and safety for employees
• Training and skills development
• Attractiveness and retention

IRO Identification	Material impact, risk or Opportunity	Description
Positive impact	Career progression through training and development	We provide abundant opportunities for skill enhancement and career progression through targeted training programs. Over the past three years, the average annual training volume per employee has exceeded 25 hours, with technical staff being the primary beneficiaries of these initiatives. Our commitment to hiring young individuals with limited qualifications and offering them career opportunities through our training and development programs is a significant contribution to fostering their growth and potential.
Positive impact	Attracting and promoting women to achieve greater representation in management roles, thereby enhancing gender equality	We aim to recruit and keep female employees to promote gender equality. We set clear goals and implement projects aimed at increasing the representation of women in management positions and to support the improvement of women’s qualifications and skills (“FemmesForce” and “Mentoring Program”).
Positive impact	An inclusive culture that enables people with disabilities to develop and advance their careers	We are firmly committed to fostering an inclusive working environment in which employees with disabilities feel valued, respected, and empowered to reach their full potential. As of December 2025, individuals with disabilities represented 2.3% of our total workforce, reflecting our ongoing efforts to remove barriers, challenge stigma, and promote equal opportunities across the Group.
Negative impact (potencial)	Possible work-related injuries and fatalities	This possible negative impact is associated with work-related physical injuries and fatalities. Given the nature of sector, we acknowledge the risks our employees face. This concern extends to both our direct workforce and subcontractors operating at our sites. Work-related injuries can lead to extended absences, ranging from days to months. Extended absences have both operational and financial impacts on the Group. For this reason, it is crucial for us to maintain a continuous downward trend in the Injury Severity Rate (ISR) year after year, as has been consistently observed. These risks are relevant in the short, medium, and long term. To mitigate them, we have implemented health and safety management systems (ISO 45001/ VCA), which currently covers 72% of our employees. Safety is deeply embedded in our company culture. We closely track safety performance on a monthly basis and incorporate safety-related targets into our manager’s bonus to reinforce our commitment to a secure work environment.
Risk	Neglecting or inadequately addressing training needs can directly affect our capacity to maintain satisfactory levels of both operational quality and output	Initial and continuous training ensures that skill levels align with our objectives. It also plays a key role in shaping a positive image of quality, both within the organization and externally.
Risk	Attracting and retaining our managers	Attracting and retaining talented managers is essential for our continued success. The loss of skilled staff due to the absence of a clear development program can significantly impact our business. To address this, we conduct annual assessments to evaluate performance and potential. Additionally, we facilitate internal mobility through monthly intra-group job fairs, where we identify high-potential individuals for growth opportunities. To further enhance our efforts, we have a Group HR function that focus on talent management and employee development across the organization.

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3.3.1.3. Actions to mitigate impacts or risks and maximize opportunities

Solutions30 has conducted a thorough assessment to identify the Impacts, Risks, and Opportunities (IRO) relevant to its operations. Based on this analysis, the company has strategically planned, defined, and implemented a comprehensive set of actions aimed at minimizing negative impacts and risks while maximizing potential opportunities. These actions are designed to enhance operational efficiency, strengthen employee well- being, and support sustainable growth. To ensure continuous improvement, Solutions30 actively monitors the outcomes of these initiatives and regularly evaluates their effectiveness. This approach allows for necessary adjustments and optimizations, ensuring that the actions remain aligned with the company’s strategic objectives and evolving challenges.

The table below provides a summary of the actions and projects that have been implemented or are planned, in alignment with our workforce strategy and policies.

Topic	Main action description
Human rights	• Definition and implementation of the human rights policy, along with internal communication to Solutions30 Group employees and other business partners through the Code of Conduct for Business Partners.
	• We continuously monitor compliance with internationally recognized human rights standards by regularly collecting data and collaborating with our business partners to ensure the timely identification and resolution of potential violations.
	• Implementation of a whistleblower policy and platform, accessible to all individuals via the Solutions30 Group website. The policy outlines the procedures for reporting workplace malpractice, enabling individuals with reasonable grounds to believe an incident may occur or has occurred within the Solutions30 Group to raise their concerns anonymously and confidentially.
	• Mandatory Governance, Risk, and Compliance training for all Group employees.
Human resources/ engaging with our workforce	• Definition and implementation of the human resources policy, along with internal communication to Solutions30 Group employees.
	• We are committed to fostering an open and inclusive workplace where all employees feel encouraged to express their opinions freely. To support this, we recently conducted a survey to assess employee satisfaction and motivation levels.
	• In 2024, we refined our methodology and standardized the survey across all Group companies, ensuring a consistent approach to measuring employee satisfaction. This enhancement allows us to collect more comprehensive feedback, identify key areas for improvement, and conduct meaningful comparisons across different entities within the Group. By considering factors such as geographic location and operational scope, we can better understand the specific needs and trends of each company, enabling us to tailor our strategies and initiatives to support our employees more effectively. The survey provides valuable insights into employees’ perceptions of Solutions30 as a workplace, their daily work experiences, and other aspects that influence their professional lives. The results serve as a critical foundation for meaningful discussions and the implementation of targeted actions to continuously enhance our work environment.
	• Individual performance assessment interviews and sharing of career development goals, are carried out regularly.
	• Additionally, we have implemented a whistleblowing platform, easily accessible through our website, where employees and other stakeholders can report concerns, submit complaints, or highlight non-compliant situations. All reports are carefully reviewed by the Group Head of Risk, Compliance, and ESG and corrective measures taken if necessary.
Health and Safety	• Ongoing commitment to the implementation and improvement of Health and Safety Management Systems in accordance with international standards (ISO 45001 and VCA). Currently, 72% of the Group’s total employees are covered by these management systems.
	• We are committed to continuously enhancing and safeguarding our robust health and safety policies, strategies, and management systems as we expand our business activities. This includes ongoing preventive and corrective measures such as safety training, internal audits, inspections, on-site health and safety meetings, emergency drills, qualified health and safety management teams, and regular inspections of personal protective equipment to ensure a safe and compliant working environment for all.
	• Over the past three years, Solutions30 has provided more than 105,000 hours of health and safety training to its employees, with a primary focus on technicians. During this 3 years period, across all training areas, our technicians have received almost 370,000 training hours, which represents an average of 29 hours per technician per year.
Skills Development	• Our Human Resources teams are constantly working to enhance the career pathways at Solutions30, based on our HR policy and the Group’s central strategy. We aim to provide employees with the essential tools they need to continuously improve their skills, ensuring equal access to professional growth opportunities within the Group.
	• The need for skill development is identified at the level of each legal entity, business unit, or country, and a training plan is developed to ensure these needs are met.
	• Over the past three years, we have provided more than 538,000 hours of training (both internal and external) across a variety of areas and topics. Notably, we have focused on technical training, which accounted for more than 68% of the total training provided, as well as health and safety training, which represented 20% of the total training during this period.

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Topic	Main action description
Skills Development (continuation)	• Knowledge Center: Designed to provide all employees with easy access to the Group’s policies and procedures related to Governance, Risk, and Compliance (GRC).

Equal Opportunities, Diversity and Inclusion

• The definition and implementation of the human resources policy, along with internal communication to Solutions30 Group employees, are key priorities. Our HR policy focuses on attracting talent, ensuring fair recruitment, promoting diversity, providing equal opportunities, and fostering employee development through training and career growth initiatives. It ensures compliance with labor laws, promotes health and safety, prohibits harassment, and upholds fair wages and ethical labor practices.

We have continued working towards increasing the percentage of women in management positions, setting quantitative targets (please see point 3.1.5) and support by our’s “FemmesForce” initiative and by programs for women skills and talent improvement such as “Mentoring Programs”. Throughout the year, the initiative held 12 meetings, some of them with external guests, engaging participants in workshops on communication, leadership presence, and career pathways.

• Mentoring Program: Designed to promote the visibility and integration of women within the Group, with the aim of significantly contributing to their career development. This program is available to all women within the Group who are eager to develop their skills and advance in their careers. The main goals of the program are to support women during their onboarding process, contribute to their career growth, and enhance the retention rate of women within the organization. Another key objective is to increase the number of women in management positions. Anyone within the Group, regardless of gender, can participate as a mentor by sharing their knowledge and experience. In 2025, the program brought together 16 mentees from five European countries, confirming its growing relevance and attractiveness across the Group.

• We are continuously improving the accessibility of our workplace for everyone (e.g., technological accessibility), fostering an inclusive environment for employees with disabilities. Currently, 2.3% of our own workforce consists of individuals with disabilities.

• In 2025, we developed a Group-wide e-learning training programme on inclusion and diversity, reaffirming our commitment to fostering an inclusive workplace culture. The programme is designed to equip our teams with the knowledge, awareness and practical tools needed to embrace diversity and promote equity at all levels of the organisation.

• The training was internally launched in the middle of the last quarter of 2025. Despite this limited rollout period, 42% of the Group’s total workforce had already completed the programme by year-end, demonstrating strong engagement and commitment from our employees. Building on this positive momentum, our objective is to reach an 80% participation rate among active employees by the end of 2026, further embedding inclusion and diversity principles across the Group.

• We are committed to ensuring fair wages and gender equality in pay for equal positions and competencies, both during hiring and promotions.

Discrimination and harassment

• At Solutions30, we ensure that all employees have access to reporting mechanisms as a means of resolution, promoting justice, fairness, and protection for individuals and communities. This allows anyone to freely and anonymously seek justice when they believe their rights have been violated, contributing to a more just and balanced work environment. If an employee experiences harassment, discrimination, or bullying, they are encouraged to report it through our whistleblowing platform, available on our website. Alternatively, employees also have the option to file a formal complaint with their Human Resources manager.

• The promotion of this reporting tool is carried out through the following means:
◦ Code of Conduct Training: Our onboarding training program includes specific modules on complaint.
◦ Internal Communication Campaigns: We regularly communicate with employees through emails, newsletters, and meetings to raise awareness and encourage the use of this tool whenever necessary.

• Solutions30 is committed to handling all reports with seriousness and impartiality, ensuring fair resolutions that take into account the needs of all parties involved. Additionally, we maintain secure and confidential records of all reports and their outcomes.

• For more information on this reporting channel and the measures in place to protect whistleblowers from retaliation, please refer to Chapter “3.4 – Governance” and the Group’s whistleblowing policy, also available on our website.

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Topic	Main action description Engaging our workforce with ESG
	• All members of the management board, country CEOs, and other key managers within the organization have a percentage of their variable remuneration tied to the achievement of ESG objectives. This approach is designed to actively engage these leaders in driving progress toward our ESG targets, fostering a shared commitment to sustainability and responsible business practices.
	• Delivery of specialized training for the Group’s managers to explain the principles, pillars, commitments, objectives, and ESG targets, as well as how each of them can contribute to improving these areas.
	• Awareness session for all Solutions30 Group employees to familiarize them with our ESG principles, objectives, and targets.
	• Monthly meetings of the Group’s ESG team with the ESG representatives from all countries where the Group operates.
	• Monthly publication of articles and news on ESG-related topics in our Group’s newsletter.

3.3.1.4. Objectives, Targets and Key Performance Indicators (KPIs)

■ Our Targets for 2025
At Solutions30, we are committed to fostering a fair, inclusive, and high-performing work environment. Setting clear objectives, measurable targets, and key performance indicators (KPIs) allows us to monitor progress, drive continuous improvement, and ensure alignment with our CSR strategy and policy goals. This point outlines the key metrics we use to assess our performance, ensuring transparency and accountability. Our main targets related with “own workforce”: The Solutions30 Group defines a set of ESG objectives, targets, and KPIs annually, as mentioned in subchapter 3.1.5. Below is a summary of the objectives, targets, and KPIs for 2026 related to the "own workforce":

Strategy Pillar / Commitment	Objectives for 2026 - Group Level	Target/ Threshold for 2026	KPI
Ensure a safe and secure work environment	Keep the injury severity rate (ISR) below than 0.65	$\le$ 0.65	Injury Severity Rate (ISR) ISR = (Total of lost days due to work- related accidents/ total worked hours) x 1000
Train our employees, developing their skills to advance their careers	Have at least 25 hours of training per employee during the year	$\ge$ 25 hours	Number of training hours per employee per year
	Ensure that, by the end of 2026, at least 85% of the Group’s active employees have completed the ESG training programme launched at the end of the third quarter of 2025.	$\ge$ 85%	% of active employees who have participated in ESG training

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Strategy Pillar / Commitment	Objectives for 2026 - Group Level	Target or Limit for 2026	KPI
Train our employees, developing their skills to advance their careers	Ensure that at least 70% of active employees (with company car) attend the Eco-driving and Safe driving training.	$\ge$ 70%	% of active employees who have participated in Eco-driving and safe driving training
	Ensure that at least 70% of active employees (staff and managers) attend the cybersecurity internal training.	$\ge$ 70%	% of active employees who have participated in Cybersecurity training
Promote diversity and equal opportunities	Ensure at least 27% of women in management positions	$\ge$ 27%	% of women in management positions

3 The objectives set for 2026 in relation to the “ESG”, “Cybersecurity” and “Eco and Safe Driving” training programmes will be assessed at year-end 2026, i.e. as of 31 December 2026. The evaluation will measure the percentage of active employees who have attended and, where applicable, successfully completed the relevant training programmes. For a training course to be considered valid for this purpose, it must have been delivered within the previous two years, using 31 December 2026 as the reference date. In parallel, annual objectives are established for each country in which the Group operates, taking into account the specific characteristics, operational scope and local context of each entity. These country-level targets are fully aligned with the Group’s overarching strategic objectives, ensuring that local performance directly contributes to the achievement of global goals. Training-related targets are transversal and uniformly applied across all countries of the Group, ensuring a consistent approach to capability building and awareness on key topics. In contrast, targets relating to the Injury Severity Rate and the proportion of women in management positions are calibrated to reflect the specific operational context, risk exposure and workforce composition of each country. All related KPIs are monitored on a monthly basis, enabling regular performance tracking, timely corrective actions where necessary, and continued alignment with the Group’s strategic priorities..■ Other important performance indicators defined and monitored

In addition to KPIs with associated targets, the Group monitors a set of KPIs related to the “own workforce” topic, which, although not having quantified targets, are regularly tracked, with actions taken if any trends deviate from the Group’s guidelines and expectations. Every month, the ESG team collects a wide range of relevant data to analyze the company’s performance in this area and reports internally on progress.

Strategy Pillar / Commitment Topic	KPI	Monitoring frequency
Ensure a safe and secure work environment	Work accidents Injury Frequency Rate (IFR) IFR = (Total of work-related accidents/ total worked hours) x 1000000	Monthly
	Absenteeism Absenteeism Rate (%) (total amount of absences divided by possible working hours)	Monthly
Promote youth employment	Percentage of people under 30 years old hired, by country and at the group level % of hires of young people (<30 years old)	Monthly
Promote an inclusive work environment	Inclusion % of employees with disabilities in our workforce	Monthly
Promote diversity and equal opportunities	Gender distribution % of women in our workforce	Monthly
	Gender pay equality Gender pay gap (%)	Quarterly
Ensure a safe and secure work environment and advance our employees career	Employee turnover % employee turnover (by age, by gender and by position)	Monthly
	Employee seniority Average seniority of employees	Quarterly
Ensure a safe and secure work environment and promote our employer brand	Employee satisfaction level Employee satisfaction rate (%)	Annually

Solutions30 | Annual Report 2025 118

3 3.3.1.5. Own Workforce Data

To align the Sustainability Statement with the Financial Report, the Group figures presented in this chapter have been adjusted to exclude the UK data and the Spain Connectivity business for all three years (2023, 2024 and 2025).

■ Group Human Resources

In 2025, the average number of Solutions30 employees (head count) was 5,907, broken down as follows:

AVERAGE WORKFORCE BY COUNTRY

	2023			2024			2025
	MEN	WOMEN	TOTAL	MEN	WOMEN	TOTAL	MEN	WOMEN	TOTAL
France	2,145	586	2,731	1,929	294	2,223	1,804	275	2,079
BeneLux	1,265	171	1,436	1,264	174	1,438	1,082	155	1,237
Germany	451	58	509	471	61	532	464	66	530
Italy	543	54	597	401	51	452	357	48	405
Poland	963	156	1,119	1,035	167	1,202	934	154	1,088
Portugal*	_	_	_	147	282	429	133	257	390
Spain**	132	26	158	149	34	183	141	37	178
TOTAL	5,499	1,051	6,550	5,396	1,063	6,459	4,915	992	5,907

*In 2023, Portugal’s employee data was reported together with France, as most services were provided to that market. From 2024 onwards, with the expansion of services within the Group, Portugal’s data has been reported separately.
**The figures for Spain relate to non-connectivity activities only.

The geographical distribution of the workforce is in line with the evolution of revenue. The share of employees in France has been decreasing since 2021 and accounted for 35.2% of the total in 2025. This reflects the maturity of the French market and the ongoing growth in other countries, with the Benelux and Poland leading the way.

COUNTRY

	Average workforce in 2023 as % of total	Average workforce in 2024 as % of total	Average workforce in 2025 as % of total
France*	41.7%	34.4%	35.2%
BeneLux	21.9%	22.3%	20.9%
Poland	17.1%	18.6%	18.4%
Germany	7.8%	8.2%	9.0%
Italy	9.1%	7.0%	6.9%
Portugal	—%	6.6%	6.6%
Spain	2.4%	2.8%	3.0%
Total	100%	100%	100%

*Our reported data above shows that in 2023, the workforce in France included employees from the shared services center based in Portugal.

Solutions30 | Annual Report 2025 119

As in 2024, the vast majority of employees in 2025 hold permanent contracts. This indicator has consistently remained at a high level for several years, increasing notably since 2021 and stabilizing from 2023 onwards, reflecting the Group’s strong commitment to job stability.

WORKFORCE BY CONTRACT TYPE

	2023			2024			2025
	MEN	WOMEN	TOTAL	MEN	WOMEN	TOTAL	MEN	WOMEN	TOTAL
Average number of employees on long-term contracts	5,067	965	6,033	5,003	888	5,891	4,608	844	5,452
	(92% of total)			(91% of total)			(92% of total)
Average number of employees on short-term contracts	431	86	517	395	173	568	308	147	455
TOTAL	5,498	1,051	6,550	5,398	1,061	6,459	4,916	991	5,907

3 In 2025, 4.4% of employees held part-time contracts, including 9.2% of women and 3.4% of men. Compared to 2024, there was a slight increase in the number of part-time employees. However, when compared with the average of 2023 and 2024, the 2025 figures remain within the expected range, with the Group continuing to maintain a low reliance on part-time employment, at under 5%.

PART-TIME EMPLOYEES

	2023			2024			2025
	MEN	WOMEN	TOTAL	MEN	WOMEN	TOTAL	MEN	WOMEN	TOTAL
Part-time work	204	91	294	145	91	236	183	98	281
Total employees	5499	1051	6550	5396	1063	6459	5380	1059	6439
Average number of employees
% of all employees	3.7%	8.7%	4.5%	2.7%	8.6%	3.7%	3.4%	9.2%	4.4%

In the table below, we present the age and gender distribution of the average annual workforce of the Solutions30 Group:

WORKFORCE BY AGE

	2023			2024			2025
	MEN	WOMEN	TOTAL	MEN	WOMEN	TOTAL	MEN	WOMEN	TOTAL
< 30 years old	1,109	304	1,413	983	251	1,235	738	188	926
30-50 years old	3,490	674	4,164	3,424	730	4,153	2,637	640	3,277
≥ 50 years old	901	71	972	991	81	1,071	1,541	163	1,704
TOTAL	5,500	1,050	6,550	5,398	1,062	6,459	4,916	991	5,907

In 2025, women represented 16.8% of the workforce, an increase of 2% compared to 2024 and 4.6% compared to 2023. On average, women hold 26.7% of management positions and 45% of roles in administrative and managerial functions, while representing only 4.2% of technicians and operators, a 17% relative increase compared to 2023.

WORKFORCE BY CATEGORY

	2023			2024			2025
	MEN	WOMEN	TOTAL	MEN	WOMEN	TOTAL	MEN	WOMEN	TOTAL
Managers	381	133	514	300	109	409	277	101	377
Administrative employees	853	758	1,611	855	772	1,626	870	725	1,595
Technicians & Operators	4,265	159	4,424	4,241	182	4,423	3,769	166	3,935
TOTAL	5,499	1,050	6,549	5,396	1,063	6,458	4,916	991	5,907

Solutions30 | Annual Report 2025 120

GROUP MANAGEMENT TEAM

	2024			2025
	MEN	WOMEN	TOTAL	MEN	WOMEN	TOTAL
Management Board
Number	4	0	4	4	0	4
Executive members	Number	4	0	4	4	0
Non-executive members	Number	0	0	0	0	0
Average age	Years	54			55
Average seniority	Years	8			9
Supervisory Board
Number	4	3	7	4	3	7
Percentage %	57%	43%	_	57%	43%	_
Independent members of the Supervisory Board	%	100%	100%	100%	100%	100%
Executive Committee of the Group
Number	4	4	8	3	4	7
Percentage %	50%	50%	_	43%	57%	_
Managers
Top managers	Number	40	8	48	40	8
Percentage %	83%	17%		83%	17%
Middle managers	Number	260	101	361	238	93
Percentage %	72%	28%		72%	28%
All managers	Number	300	109	409	277	100
Percentage %	73%	27%		73%	27%

3 *Type of manager definition: Top Manager - management roles with responsibilities and activities at the strategic level of the Group, companies, or Business Units. Responsible for vision and strategy. Middle Manager - management and coordination functions responsible for planning, implementing, and controlling activities carried out by teams focused on specific business segments. Management functions of a specific area of the Company or Business Unit. Responsible for achieving operational objectives. Manager who reports directly to Top Manager.

■ Employee Hiring

In the table below, we present the hiring data of employees, broken down by age and gender.

WORKFORCE HIRES BY AGE

	HIRES 2023			HIRES 2024			HIRES 2025
	MEN	WOMEN	TOTAL	MEN	WOMEN	TOTAL	MEN	WOMEN	TOTAL
< 30 years old	687	239	926	433	144	576	201	74	275
Rate*	61.9%	78.6%	65.5%	44.0%	57.2%	46.7%	27.3%	39.2%	29.7%
30-50 years old	1,018	349	1,368	589	168	758	277	63	341
Rate*	29.2%	51.8%	32.9%	17.2%	23.1%	18.2%	10.5%	9.9%	10.4%
≥ 50 years old	126	18	144	92	19	111	81	8	89
Rate*	14.0%	25.2%	14.8%	9.3%	23.6%	10.4%	5.3%	4.7%	5.2%
TOTAL	1,831	607	2,438	1,114	331	1,446	560	145	705
Rate*	33.3%	57.8%	37.2%	20.6%	31.2%	22.4%	11.4%	14.6%	11.9%

* Rates are calculated as the ratio between the number of people hired and the average number present during the year.

Solutions30 | Annual Report 2025 121

Employment of young people

In 2025, employees under the age of 30 represented 16% of the total workforce. Young people under 30 accounted for 39% of total hires in 2025, reflecting the Group’s strong commitment to youth recruitment. Since 2022, the Group has consistently achieved youth hiring rates above 38%, and aims to maintain a high rate of young hires in 2026. Additionally, in 2026, we will analyse how many of these young and initially low skilled employees progressed internally within the Group’s hierarchy, enabling us to more accurately monitor the real impact of this programme.

HIRES < 30 YEARS

	HIRES 2023			HIRES 2024			HIRES 2025
	MEN	WOMEN	TOTAL	MEN	WOMEN	TOTAL	MEN	WOMEN	TOTAL
< 30 years old	687	239	926	433	144	576	201	74	275
Total hires	1,831	607	2,438	1,114	331	1,446	560	145	705
Percentage	37.5%	39.4%	38.0%	38.8%	43.4%	39.9%	36.0%	51.0%	39.1%

3 In an environment marked by constant technological evolution and rising skill requirements, developing strong technical capabilities has become more critical than ever. Within this landscape, young professionals remain essential contributors to Solutions30’s long term growth and innovation capacity. One of the company’s key commitments under the social pillar continues to be the training and development of its workforce, supporting employees in advancing their careers while fostering diversity, equal opportunities, and youth employment. To attract new talent and ensure effective skills development, Solutions30 has implemented robust recruitment processes. To accompany its expansion and continuously integrate new competencies, the company has developed a comprehensive training framework.This approach enables the recruitment of young individuals without formal qualifications, those who may have experienced academic challenges, or professionals seeking to change careers, significantly enhancing their employability. The core principles guiding our selection and recruitment processes include:
* Supporting young people in accessing their first job
* Matching candidates with opportunities that reflect their potential, ensuring the selection of the most qualified professionals
* Ensuring objective and impartial recruitment practices
* Promoting the inclusion of diverse skill profiles.

Workforce Turnover

In the following table, we present a summary of the data related to workforce turnover.

WORKFORCE TURNOVER	Unit	2023	2024	2025
Number of employees who left the company	Number	1,995	1,844	1,526
Turnover rate	%	30.5%	28.6%	25.8%
Turnover rate (men)	%	30.5%	27.4%	25%
Turnover rate (women)	%	30.1%	34.5%	30.1%
Number of employees who voluntarily left the company	Number	_	831	667
Voluntary turnover rate	%	_	12.9%	11.3%

Solutions30 | Annual Report 2025 122

WORKFORCE TURNOVER BY AGE

	TURNOVER 2023			TURNOVER 2024			TURNOVER 2025
	MEN	WOMEN	TOTAL	MEN	WOMEN	TOTAL	MEN	WOMEN	TOTAL
< 30 years old	536	137	674	480	144	624	274	92	365
Rate*	48.0%	45.0%	48.0%	49.0%	57.0%	51.0%	37.0%	49.0%	39.0%
30-55 years old	940	165	1,105	799	204	1,003	661	170	831
Rate*	27.0%	24.0%	27.0%	23.0%	28.0%	24.0%	25.0%	27.0%	25.0%
≥ 55 years old	203	14	217	199	18	217	293	37	330
Rate*	23.0%	20.0%	22.0%	20.0%	23.0%	20.0%	19.0%	23.0%	19.0%
TOTAL	1,679	316	1,995	1,478	366	1,844	1,228	298	1,526
Rate*	31.0%	30.0%	30.0%	27.0%	34.0%	29.0%	25.0%	30.0%	26.0%

*The turnover rate is the ratio between the number of people who have left the company and the average workforce for the year for each age category.

Overall, a consistent downward trend in employee turnover has been observed across the Group. Turnover remains higher among employees under the age of 30, largely reflecting the nature of the Group’s activities, as many of these roles represent a first professional experience. The Group is structured to absorb and manage this dynamic. The skills acquired by our technicians through internal training programs significantly enhance their employability in the job market. While this supports their professional development, it can also present retention challenges. The technical qualifications provided by the Group open up new career opportunities, making these employees increasingly attractive to other organizations. This phenomenon is particularly evident among younger employees, who often begin their careers at Solutions30 and may later pursue external opportunities as their skills develop. Nevertheless, the Group maintains a flexible organizational structure to manage this level of turnover and remains committed to fostering internal talent by offering career development and progression opportunities. As shown in the table above, 2025 recorded the lowest turnover rate among young employees over the past three years, with a particularly significant decrease compared to 2024.

Training, talent management, and performance monitoring

Training is a fundamental pillar of professional qualification and opens up opportunities for career advancement within the Group. The training program includes elements aimed at promoting a culture of ethical behavior, which is essential within the framework of the Group’s values. At Solutions30, professional development primarily targets administrative employees in fields requiring specialized skills, such as project management and management control, but also technicians. Technical training, in particular, serves as an entry point into the workforce for technicians and offers continuous development opportunities.

In 2025, the Group provided 163,965 hours of training, which corresponds to 27.8 hours per employee, demonstrating the Group’s strong commitment to developing its employees’ skills. Among these training sessions, 61% were dedicated to technicians, confirming the priority given to improving their qualifications. Whenever the local context allows, the Group hires young individuals with sometimes low educational levels and significantly enhances their employability by offering professional training and providing them with new career prospects and opportunities. In terms of total training hours, technicians are the main beneficiaries of these programs, receiving more than three-quarters of the total training hours delivered by the Group.

The Group has implemented an interactive online platform called “Solutions30 Academy,” accessible to all its employees. This platform allows for:
* The provision of specific training programs, regularly updated to ensure tailored learning;
* The monitoring of employees’ progress and the identification of areas for improvement.

A comprehensive training program is delivered through specialized centers, in the form of e-learning modules or in-person sessions. Regarding ESG, GRC (Governance, Risk, and Compliance), Cybersecurity, Inclusion & Deversity, and GDPR (General Data Protection Regulation) topics, the Group provides all its employees with a set of mandatory e-learning courses. These training sessions aim to disseminate our policies, strategy, and objectives in these areas while strengthening employees’ knowledge and engagement in topics we consider of critical importance.

The Group collaborates with various local institutions, including:
* Employment agencies, such as France Travail in France, VDAB in Flanders, the Gdańsk and Siedlce employment offices, as well as UWV in the Netherlands;
* Several universities, including Vigo, Granada, Malaga, and La Rioja in Spain;
* Specialized institutes, such as Dibkom German Institute for Broadband Communication;
* The TAKpełnosprawni Foundation, committed to the recruitment and integration of people with disabilities in the job market;
* The Luigi Clerici Foundation and “Immaginazione & Lavoro” Institute in Milan, as part of professional internship programs;
* The Polytechnic University of Milan, the School of Communication and the Foundation for the Development of the School of Communication Complex in Gdańsk.

In Poland, additional collaborations have been established with:
* The Secondary School Complex No. 1 in Siedlce;
* The Youth Education and Work Center in Siedlce (Centrum Edukacji i Pracy Młodzieży w Siedlcach);
* The Energy School Complex and Technical High School No. 13 in Gdańsk.

Talent Management within the Group is Centered on Training, through:
* The implementation of a structured framework covering all training initiatives, to enhance employees’ qualifications, facilitate their adaptation to an evolving multicultural environment, and promote the company’s sustainable growth;
* The development of training plans aimed at strengthening professional skills, supporting organizational changes, and facilitating the integration of new employees.

Solutions30 | Annual Report 2025 123

NUMBER OF TRAINING HOURS BY GENDER AND BY CATEGORY

	2023			2024			2025
	MEN	WOMEN	TOTAL	MEN	WOMEN	TOTAL	MEN	WOMEN	TOTAL
Managers	5,493	1,211	6,704	10,935	3,272	14,207	13,048	2,378	15,426
Administrative employees	14,102	15,632	29,734	21,305	26,404	47,709	29,697	19,408	49,105
Technicians & Operators	139,281	4,724	144,005	123,955	7,899	131,855	96,077	3,357	99,434
TOTAL	158,876	21,567	180,443	156,195	37,576	193,771	138,822	25,143	163,965

Solutions30 | Annual Report 2025 124

TRAINING HOURS BY GENDER AND BY CATEGORY (average per person per year)

	2023			2024			2025
	MEN	WOMEN	TOTAL	MEN	WOMEN	TOTAL	MEN	WOMEN	TOTAL
Managers	14.4	9.1	13.1	36.5	30.0	34.8	47.2	23.6	40.9
Administrative employees	16.5	20.6	18.5	24.9	34.2	29.3	34.1	26.8	30.8
Technicians & Operators	32.7	29.7	32.5	29.2	43.5	29.8	25.5	20.3	25.3
TOTAL	28.9	20.5	27.6	28.9	35.4	30.0	28.2	25.4	27.8

Solutions30 continues to strengthen its commitment to training, reflected in its ongoing focus on the diversity and quality of the programs delivered. As illustrated in the chart above, the average annual training hours per employee in 2025 decreased compared to 2023. This reduction was mainly driven by a smaller workforce and a lower need to recruit technicians in 2025 compared to the previous two years. As the majority of training is directed toward technical roles, a reduction in technician recruitment has a direct impact on the overall training volume at Group level. Despite this, the average annual number of training hours per employee exceeded the Group’s target of 25 hours, reaching 27.8 hours in 2025. This marks the third consecutive year in which this target has been achieved, which we consider a very positive outcome for the continuous development and upskilling of our workforce.

In 2025, the average number of training hours provided to the Group’s managers increased significantly, rising from 34 to 41 hours. This progress underscores Solutions30’s strong commitment to strengthening managerial capabilities and ensuring that its leadership community is well prepared to respond to the challenges of an increasingly dynamic and evolving business environment. During the year, two new internal training programmes were launched exclusively for the Group’s middle and top managers: Manager Basic Training and Manager Option+. These initiatives were designed to enhance core managerial competencies, reinforce leadership effectiveness, and support managers in driving operational excellence across all countries of operation. These trainings were specifically designed to:
* Equip managers with the tools and best practices required to lead their teams effectively and responsibly;
* Facilitate the implementation of the Group’s strategic directives;
* Promote a collaborative, inclusive, and motivating work environment.In parallel, a substantial proportion of managerial training hours focused on key ESG-related topics, including environmental, social and governance (ESG) principles, cybersecurity, Governance, Risk and Compliance (GRC), diversity and inclusion, and data protection requirements under the General Data Protection Regulation (GDPR). These critical areas require in-depth knowledge to ensure sound governance, regulatory compliance, robust risk management, and enhanced data and systems security. The broadening and diversification of training content further demonstrate the Group’s dedication to the continuous development of its leadership community. Well-trained managers are better equipped to guide and support their teams, foster employee engagement and professional growth, and ultimately contribute to the Group’s sustainable performance and long-term value creation.

■ Performance evaluation

At Solutions30, we regularly conduct individual performance evaluation interviews and share professional development objectives, with a minimum frequency of once per year. In addition, we periodically organize special management initiatives for highly skilled employees. Our goal is to gradually increase the number of employees involved in this performance evaluation process, as we believe it significantly enhances individual performance and development, strengthens focus on achieving the Group’s goals and targets, and contributes to the overall improvement of service quality for our clients. The table below provides a summary of the total number of individual performance evaluation interviews conducted over the past three years, categorized by professional category. As of the preparation of this report, many performance evaluations were still being conducted or planned. For this reason, the figure reported for 2025 is expected to be significantly higher, particularly among managers.

EMPLOYEES HAVING UNDERGONE AN ANNUAL PERFORMANCE REVIEW (%)	2023	2024	2025
Managers	90%	67%	48%
Administrative employees	71%	50%	63%
Technicians & Operators	41%	52%	46%

Solutions30 | Annual Report 2025 125

■ Occupational health and safety

a) Occupational health and safety policy

The group places great emphasis on the well-being of its employees, not only by adhering to occupational health and safety regulations and implementing procedures to prevent accidents and workplace illnesses but also by promoting physical and mental wellness through policies that encourage healthier habits. Given that the strength of Solutions30 is in its workforce, ensuring their health and safety is a top priority, both for ethical reasons and to ensure the continuity of operations. Enhancing health and safety within the Group is also seen as an opportunity to improve overall well-being, safeguard human resources, and boost productivity. The group is dedicated to establishing, enforcing, and reviewing measures to minimize workplace risks for employees, subcontractors, suppliers, and customers. As a responsible organization, Solutions30 strives to mitigate workplace hazards to the greatest extent possible. Additionally, the Group is committed to continually improving its health and safety practices. It has earned ISO 45001 certification in various countries, reflecting its commitment to the highest standards of occupational health and safety. Solutions30 fosters a health and safety culture across the entire organization, offering appropriate training, guidance, and supervision for all employees. Currently, 72% of the Group’s workforce is covered by the ISO 45001 standard or VCA** standard (this last one only used in Belgium and the Netherlands). The Occupational Health and Safety Policy is designed to ensure a safe and healthy working environment and includes the following key elements:
* Integrating health into the workplace.
* Group-wide safety standards to ensure that all levels of employees, from directors to workers, understand their responsibilities.
* Methods for efficiently identifying, evaluating, and managing workplace risks.
* Health monitoring and training to ensure employees are fit for work.
* A system for assessing occupational health and safety based on group-wide standards to identify potential gaps, share best practices, and foster a culture of excellence in risk prevention.

Health and safety training is mandatory not only for employees but also for subcontractor technicians working at all job sites, prior to commencing any tasks. In 2025, solutions30 provided more than 26 500 hours of health and safety training to our own workforce. In addition to the third-party audits required for maintaining ISO 45001 and VCA** certifications, Solutions30 is regularly audited by clients and conducts annual internal audits across all entities within the Group. The group tracks occupational health and safety performance using two key indicators such as the Injury Frequency Rate (IFR) and the Injury Severity Rate (ISR).

Injury Severity Rate (ISR)	2023	2024	2025	2025 vs 2024
Solutions30 Group	0.67	0.65	0.58	(11)%

As shown in the table and graphs above, since 2021, the injury severity rate has steadily decrease, reflecting a continuous reduction in workplace accident severity. This positive trend results from the Group’s health and safety strategy, supported by various initiatives to enhance working conditions, particularly for field technicians. Key contributing factors include the ongoing improvement of Health and Safety Management Systems (ISO 45001 and VCA certifications), a strong focus on prevention through technical and safety training, regular inspections, internal audits, and targeted improvement plans based on accident investigations and analysis. As previously presented, Solutions30 has set a target for the injury severity rate (ISR) as one of its key ESG objectives. While we acknowledge the importance of the injury frequency rate (IFR) for health and safety performance analysis, we believe that focusing solely on IFR is too limited. For instance, in an extreme case, we could have only one accident in a year, which might seem like a good result. However, if that single accident were a fatality, it would be a highly negative outcome. Conversely, we could have a higher frequency rate but with less severe accidents, resulting in fewer lost days. For this reason, we place greater emphasis on ISR and have chosen to set specific targets only for this metric.

For 2025, the S30 group reports the following figures related to our own workforce:

Safety Data	Unit	2024	2025
Number of injuries	Number	328	350
Lost-time injuries	Number	311	203
Worked hours	Hours	10,183,581	9,577,857
Injury Frequency Rate (IFR) (*)		30.53	21.18
Injury Severity Rate (ISR) (*)		0.65	0.58
Fatalities	Number	0	0

In 2025, the total number of work-related accidents (including commuting accidents) increased by 7% compared with 2024. However, despite this rise, the number of accidents resulting in lost working days decreased by approximately 35% over the same period. This positive trend reflects a significant reduction in the injury severity rate, which improved from 0.65 in 2024 to Solutions30 | Annual Report 2025 126 0.58 in 2025. In summary, although the Group recorded a higher number of incidents, many of these accidents were reported and documented in accordance with our internal procedures, but did not result in any lost time/ absenteeism. It is also important to note that, prior to 2024, the Group did not differentiate between types of accidents, such as workplace accidents and commuting accidents. All incidents were consolidated into a single reporting category, which prevents us from conducting a reliable comparison between 2025 and 2023. Therefore, the only valid year on year assessment is between 2025 and 2024. Additionally, the total number of hours worked in 2025 was 6% lower than in 2024, reflecting the decrease in operational activity during the year. This reduction in exposure hours reinforces the relevance of using standardized H&S indicators, such as frequency and severity rates, to ensure a consistent and comparable analysis of performance.

Accounting Notes
(*) – The scoping and consolidation of safety data require that we include 100% of work-related accidents, hours worked, and days lost for our own workforce. Therefore, data related to our subcontractors (value chain workers) are not included.
– The Injury Frequency Rate (IFR) is calculated as the number of work-related accidents that occurred during the year 2024, divided by the total number of hours worked, multiplied by 1000000. This includes lost-time injuries, defined as injuries that result in an incapacity to work for one or more calendar days in addition to the day of the incident.
– The Injury Severity Rate (ISR) is calculated as the total number of days lost due to work-related accidents that occurred during the year 2024, divided by the total number of hours worked, multiplied by 1000. When calculating the number of days lost, holidays and weekends are not included. Only days lost due to accidents that occurred in the calendar year 2024 are considered.
– The total number of work accidents includes all accidents that occurred, whether they are work-related or travel-related.
– Fatalities refer to the number of employees who lost their lives as a result of a work-related incident. If they occur, they will be included in the IFR and ISR calculations.

■ Equal Opportunities and Gender Pay Gap

Equal Opportunities

The company promotes diversity among its employees (ethnicity, religion, gender). Its goals and principles may be summarized as follows:
* Respect diversity and eliminate discrimination based on race, skin color, age, gender, marital status, political views, nationality, religion, sexual orientation, or any other minority status or personal, physical, or social condition among its workforce.• Promote the equal opportunity principle, an essential pillar of professional development that requires commitments to equal practices and treatment to drive personal and professional growth among the team. We are continuously improving the accessibility of our workplace for everyone (e.g., technological accessibility), fostering an inclusive environment for employees with disabilities. Currently, around 2% of our own workforce consists of individuals with disabilities.
• Promote gender equality in terms of access to employment, to training, to promotions, and to good working conditions by encouraging gender diversity as a reflection of social and cultural realities.
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• Take steps to promote work-life balance by:
– Respecting employees’ personal and family lives
– Facilitating a good balance between their personal lives and professional responsibilities for both men and women.

Gender Pay Gap

Assessing the overall gender pay gap at Group level remains challenging, as direct comparisons are often not feasible. In many of our countries, there is limited or no overlap between men and women performing the same role, within the same function, country, and with comparable skills and qualifications. This lack of comparable positions restricts the production of a precise and meaningful global pay gap indicator. Nevertheless, to gain a clearer understanding of potential disparities, in 2025 we conducted a gender pay gap analysis, referent to the year 2024, for specific roles where the Group employs a high number of individuals performing the same tasks with similar skill sets, such as call center positions. This assessment was carried out across four countries. The highest gender pay gap identified was 4.3%, meaning that, on average, women earned 4.3% less than men while performing the same function. In the other three countries analysed, the gaps were 2.2%, 2.3%, and 3.6%, respectively, with women consistently earning less than their male counterparts. Although these variations are relatively small, they highlight the importance of continuous monitoring and targeted actions to mitigate potential inequalities. In 2026, we aim to extend the Gender Pay Gap analysis to all countries in which the Group operates, applying the calculation methodology defined under ESRS S1, Disclosure Requirement S1 16 – Remuneration Metrics. The results of this Group wide analysis will be presented in the 2026 Sustainability Statement. The Group continues to monitor pay equity closely. In line with EU Directive 970/2023, we are also exploring approaches to enhance pay equality and transparency, ensuring clear visibility of pay structures and identifying potential disparities across our workforce.

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■ Teleworking (remote work)

Solutions30 is a flexible employer that supports remote work and strives to accommodate the needs of its employees as much as possible. Teleworking offers numerous benefits for employees, enhancing work-life balance, reducing commuting time and GHG emissions, costs, and increasing overall job satisfaction. Additionally, remote work can contribute to improved well-being by reducing stress associated with daily travel. Thanks to our ongoing digital transformation, advanced IT tools and platforms, and strong commitment to digital inclusion, many employees across the Group can take advantage of teleworking. Below, we present the average number of employees (headcount) who have worked remotely over the past three years.

REMOTE WORK	2023	2024 (*)	2025
Number of employees working remotely	655	505	641
% of employees working remotely	10%	8%	11%
Total days of remote work	86,552	59,376	50,914

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In summary, throughout 2025, an average of 641 employees per month worked remotely, representing approximately 11% of the Group’s total workforce.
(*) For 2024, it was not possible to determine the precise number of remote workers in France. As France represented 34% of the Group’s total workforce in 2024, we are confident that the real number and percentage of employees working remotely during 2024 were higher than the figures presented in the table above.

■ Employee Satisfaction

The Group periodically conducts employee satisfaction surveys to better understand employees’ perceptions, concerns, and expectations. These assessments allow us to identify areas for improvement, strengthen best practices, and develop initiatives aimed at fostering a positive, motivating work environment aligned with our organizational values. At the end of 2024 and beginning of 2025, a satisfaction survey was carried out across eight countries within the Group, covering more than 79% of the total workforce. The results showed an overall satisfaction score of 3.3 on a scale from 1 to 5, where 1 represents “very dissatisfied” and 5 represents “fully satisfied.” This outcome provides us with a valuable baseline for strengthening our employee experience strategy and enhancing engagement across the organization. In 2026, a new employee satisfaction survey will be conducted in all countries where the Group operates. This survey will use a fully harmonized methodology across all geographies, enabling us to more accurately assess global employee satisfaction and compare results between countries. This standardized approach will help us identify improvement opportunities and highlight strengths in specific countries that can be replicated elsewhere within the Group. In addition to these surveys, the Group provides an online whistleblowing platform accessible to all employees. This secure and confidential channel allows employees to report misconduct, dissatisfaction, or any other concerns anonymously. We consider this mechanism essential for promoting a culture of transparency, integrity, and trust, ensuring that everyone can raise issues without fear of retaliation. All reports submitted through the platform are reviewed directly by the Group Head of Compliance, who assesses each case and ensures the implementation of appropriate follow up actions when necessary. Employees may also contact their local Human Resources teams directly to express concerns or dissatisfaction. HR managers are responsible for addressing these matters, ensuring timely follow up, and fostering open, constructive dialogue throughout the Organization.

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■ Collective Bargaining and Social Dialogue

Solutions30 is firmly committed to upholding human rights and promoting an open, constructive, and respectful social dialogue across all the countries where it operates. Our human rights and human resources policies reflect our dedication to ensuring fair working conditions, supporting collective bargaining processes, and safeguarding the principles of freedom of association. We fully recognize and respect our employees’ rights to join, or to refrain from joining, labor unions or other representative bodies, without fear of discrimination, harassment, intimidation, retaliation, or violence, and always in compliance with national legislation. Employees are free to participate in organizations of their choice that legitimately represent their interests. We ensure that individuals who serve as employee representatives are treated fairly and are neither advantaged nor disadvantaged as a result of their role. In locations where employees choose not to appoint formal representatives, Solutions30 encourages direct, transparent, and open communication between employees and management. Maintaining regular dialogue at all levels allows us to identify concerns early, collaborate on practical solutions, and reinforce a workplace culture built on trust and mutual respect. The Group strictly complies with all applicable labor laws in the countries where it operates and aligns its practices with internationally recognized standards, including the conventions of the International Labour Organization (ILO) concerning freedom of association, collective bargaining, consultation mechanisms, and the right to strike. These principles form the foundation of our approach to social relations and are embedded in our day to day management practices. Through ongoing and meaningful engagement, Solutions30 strives to ensure that employees, and their representatives, where applicable, are actively involved in discussions on key topics affecting their working lives. This continuous dialogue contributes to building a fair, inclusive, and responsible work environment where every individual feels heard, respected, and valued.

■ Fair Remuneration

Solutions30 is committed to ensuring fair, equitable, and transparent remuneration practices across all its operations. We recognize the fundamental right of every employee to good working conditions and to remuneration that reflects the value of their work. At Solutions30, remuneration practices are guided by the following principles:
• Fair and equitable compensation, ensuring that pay levels reflect the responsibilities, competencies, and contributions associated with each role.
• Strict respect for the principle of equal pay for men and women performing work of equal value, supported by objective job evaluations and consistent assessment criteria.
• Full compliance with national legal frameworks and collective labour agreements, as well as alignment with International Labour Organization (ILO) Conventions on fair wages and decent working conditions.
• Guarantee that the minimum remuneration received by any Solutions30 employee is never below the requirements established by national legislation or collective agreements in each country where the Group operates.

The Group believes that a well structured remuneration system is essential to strengthening its human capital and enhancing its competitiveness. Fair remuneration not only supports employee well being, but also contributes to operational excellence by fostering motivation, engagement, and long term retention.3 To ensure consistency and alignment with our strategic priorities, Solutions30’s remuneration system is built on four key pillars:
1. Attracting, recruiting, and retaining top talent by offering competitive and market aligned compensation.
2. Aligning remuneration practices with the Group’s strategic positioning, long term development goals, and pursuit of operational excellence.
3. Recognizing and rewarding employees’ dedication, responsibilities, performance, and contribution to value creation.
4. Adapting remuneration structures to the diverse operational and regulatory realities of the different countries where the Group operates, ensuring fairness and compliance everywhere.

These principles are embedded in the Group’s Human Resources Policy, which is publicly available on our website and serves as a reference framework for all countries and business units.

■ Incidents, complaints and human rights violations

Solutions30 operates an online whistleblowing platform accessible to all employees and stakeholders through the corporate website. This channel allows confidential and anonymous reporting of any type of concern or complaint, including but not limited to incidents, workplace issues, ethical or compliance-related matters, potential human rights violations, and health and safety concerns. All employee data is anonymized to ensure GDPR compliance, and the system fully aligns with the EU Whistleblower Protection Directive. All submissions made through the platform are reviewed directly by the Group Head of Risk, Compliance & ESG, who reports to both the Management Board and the Audit, Risk, and Compliance Committee. This governance structure ensures independence, oversight, and impartiality in the assessment and follow up of each case. When necessary, corrective actions are implemented in collaboration with the appropriate internal departments. In 2025, fourteen incidents of discrimination, including harassment, were reported. No severe human rights violations involving employees were recorded in 2025. More detailed information, together with a comprehensive summary of the number of cases reported through our whistleblowing platform in 2025, is provided in section 3.4.1.5 – Governance Data.

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3.3.2. ESRS S2 – Workers in the Value Chain

3.3.2.1 Our approach and policies

Solutions30’s service activities require significant collaboration with external service providers. The most critical among them are subcontractors/ technical personnel providers, call center service providers, logistics service suppliers and long-term vehicle rental companies. The risk of economic dependence is low, as Solutions30 has viable alternatives in each procurement category. Contracts with suppliers directly involved in group operations, such as call centers and local subcontractors, include service-level indicators to ensure specific quality standards.

Solutions30 categorizes its suppliers into two main groups:
* General Suppliers
* Subcontractors

■ General Suppliers

Certain purchases, such as vehicle leases and IT equipment, are managed by the Group’s fleet manager and IT manager, respectively. They negotiate framework agreements for such purchases. Local procurement teams are responsible for selecting and securing the necessary products and services to ensure operational continuity from external general suppliers.

Solutions30 expects its suppliers to protect and promote worker health and safety in all their operations and facilities. Additionally, suppliers must comply with all applicable environmental regulations and demonstrate a commitment to continuous improvement in their environmental and health and safety performance. They are also encouraged to develop innovative processes and solutions that minimize environmental impact throughout their life cycle.

Suppliers are required to:
* Continuously monitor their energy and natural resource consumption, carbon footprint, waste management, and overall environmental impact, striving to mitigate risks and negative effects.
* Ensure that their employees possess the necessary skills to perform their assigned tasks, providing training in both technical competencies and environmental, health, and safety best practices.

■ Subcontractors

Solutions30 delivers digital services and technical solutions to end customers, both individuals and businesses (B2C and B2B), often acting on behalf of leading telecommunications, technology, security, and energy companies. This is made possible through a network of approximately 15,000 internal and external technicians who specialize in installation, maintenance, and technical support across multiple sectors. The Group operates in nine European countries: Belgium, France, Germany, Italy, Luxembourg, the Netherlands, Portugal, Poland, and Spain. Although adjustments within our supply chain may occur as we respond to evolving customer needs and shifts in market demand, these changes do not alter the fundamental structure or geographic footprint of Solutions30’s value chain. Because the vast majority, almost 100%, of our value chain workforce consists of external technicians, either self employed or employed by subcontracted companies, our approach to supply chain responsibility places a strong focus on these workers. Ensuring ethical, safe, and legally compliant practices among our subcontractors is therefore central to our sustainability strategy.

Our responsible supply chain management approach is built on a rigorous third party due diligence process, carried out before any commercial relationship is initiated. This includes verifying all mandatory legal, administrative, and operational documentation required in the relevant country. To ensure ongoing compliance, periodic reviews and monitoring activities are performed throughout the duration of the partnership. In addition, all business partners must comply with the requirements set out in our Business Partners Code of Conduct, which outlines expectations regarding environmental protection, labor rights, health and safety, ethics, business integrity, and human rights. Further detail on our due diligence procedures is available in Chapter “3.4 – Governance” of this Sustainability Statement.

To formalize these commitments, Solutions30 establishes subcontracting agreements with all external partners. These agreements include clear contractual obligations related to:
* Environmental requirements, including waste management, resource efficiency, and compliance with local environmental legislation
* Health & Safety standards, ensuring adequate training, safe working methods, and compliance with national regulations
* Adherence to the Business Partners Code of Conduct, including labor rights, human rights, and ethical business conduct
* Transparency, ethics, and governance, with specific clauses addressing anti-corruption, fraud prevention, and responsible subcontracting

These measures collectively help ensure that all business partners operate in line with Solutions30’s values and sustainability commitments, while reinforcing the integrity and resilience of our value chain across all geographies. The following sections provide a summary of our key governance frameworks regarding these topics.

• Business Partner Code of Conduct: this document establishes ethical and compliance standards for suppliers, subcontractors, and partners. It emphasizes responsibility in society, including human rights, stakeholder relationships, and sustainability; business ethics, covering anti-corruption, fair competition, money laundering prevention; and workplace integrity, focusing on safety, data protection, and intellectual property security. Partners must adhere to these principles, communicate them within their networks, and report violations through designated channels. Non-compliance may result in business termination or corrective actions. It applies to all subcontractors and other business partners who establish commercial relationships with us.
• Third-Party Due Diligence Policy: Solutions30 has implemented a Third-Party Due Diligence (TPDD) Policy to ensure compliance, integrity, and ethical business practices in its operations. This policy, aligned with regulatory frameworks such as the Sapin II Law, aims to mitigate financial and reputational risks related to third-party relationships. The TPDD process includes risk classification, compliance checks, and in-depth reviews when necessary. Business partners must meet specific requirements, and contracts are only formalized once due diligence is successfully completed. Continuous monitoring, audits, and verification mechanisms are in place to ensure compliance, with clear roles assigned to internal governance, risk management, and compliance teams. Non-compliance may result in disciplinary actions. For more detailed information, please see section 3.4 – Governance.

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3.3.2.2. Material Impacts, Risks and Opportunities (IRO)

In the image below, we present the materiality level of each sub-topic related to the topic “Workers in the value chain.” This aims to highlight the relative importance of each sub-topic, within the Solutions30 Group. The table below outlines the sustainability-related impacts, risks, and opportunities (IRO) identified and assessed as material through S30 double materiality assessment process. Specifically, it refers to the IROs associated with “Workers in the Value Chain (ESRS S2).” Within the table, we indicate the impacts and risks for our value chain. Additionally, we specify whether these impacts are positive or negative. Unless explicitly stated as potential impacts, all impacts are considered actual.# ESRS S2 – Workers in the Value Chain

• Health and safety for employees
• Training and skills development
• Attractiveness and retention

IRO	Identification	Material impact, risk or Opportunity	Description
Negative impact (potential)	Possible work-related injuries and fatalities for subcontractors’ workers	Non-compliance with established safety regulations or poor practices by subcontractors can lead to workplace accidents, which may have significant consequences for Solutions30. Such incidents could result in legal liabilities, financial penalties, and reputational damage, especially if the company is deemed responsible for insufficient oversight. Additionally, workplace accidents may disrupt operations and delay projects.	Risk
High dependence on Subcontractors	Operationally, it can lead to a loss of control over service quality, project delays, and potential labor shortages that may disrupt performance. Strategically, overdependence may result in the loss of internal expertise.	Risk
Possible subcontractor misconduct	If subcontractors violate labor laws, human rights, safety regulations, or sustainability requirements, may expose Solutions30 to legal liabilities and reputational damage.
Opportunity	Local Job Creation and Improved Labor Standards	Leveraging subcontractors to boost regional employment and strengthen community relations, we lead the industry by enforcing fair wages, worker rights, and safe working conditions among our subcontractors.

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3.3.2.3. Actions to mitigate impacts or risks and maximize opportunities

Solutions30 has conducted a thorough assessment to identify the Impacts, Risks, and Opportunities (IRO) relevant to its operations. Based on this analysis, the company has strategically planned, defined, and implemented a comprehensive set of actions aimed at minimizing negative impacts and risks while maximizing potential opportunities. These actions are designed to enhance operational efficiency, strengthen employee well-being, and support sustainable growth. To ensure continuous improvement, Solutions30 actively monitors the outcomes of these initiatives and regularly evaluates their effectiveness. This approach allows for necessary adjustments and optimizations, ensuring that the actions remain aligned with the company’s strategic objectives and evolving challenges. The table below provides a summary of the actions and projects that have been implemented or are planned, in alignment with our strategy and policies related with subcontractor’s.

Topic	Main action description
Health and Safety (Possible work- related injuries and fatalities for subcontractors’ workers)	At Solutions30, ensuring the health and safety of subcontractors’ workers is a fundamental priority. We have implemented a structured process that includes pre-engagement risk assessments, mandatory training, continuous monitoring, and strict compliance with safety regulations to mitigate health and safety risks within our value chain. The type and extent of control depend on the nature of the activity the subcontractor will perform (risk level), as well as the maturity of their practices and the health and safety management system they have demonstrated.
Pre-Engagement Requirements and Risk Assessment	Before a subcontractor begins working with us, a risk assessment is conducted as part of our Third-Party Due Diligence (TPDD) Policy. This process is standardized through a group-wide template. If the assessment identifies a medium or high risk, the case is escalated for further validation by the Central TPDD Responsible. Additionally, depending on the type of activity they will perform, subcontractors are required to attend an initial meeting, during which they receive an overview of our Prevention Plan. This plan outlines all identified risks and corresponding preventive measures that must be adhered to.
Mandatory Health and Safety Training	To ensure compliance with safety regulations and mitigate workplace risks, we require subcontractors to provide evidence of their employees’ training based on the type of activity they will be performing. Below are key training courses that are mandatory for all subcontractor workers, regardless of their specific roles:
	• Work at heights training (including rescue)
	• Electrical training
	• Authorization to work near a network (e.g., electricity, gas, water, etc.)
	• Training for the use of specific heavy equipment (e.g., cherry picker, forklifts)
	Each of these training sessions must be accompanied by an employer’s authorization to work, confirming the employee’s competency.
Onboarding and Initial Safety Check	Upon starting work, subcontractors undergo a safety equipment check to ensure they have the necessary protective gear and comply with safety regulations. Additionally, all relevant safety procedures are provided, ensuring they are well-informed about workplace hazards and best practices.
Continuous Monitoring and On-Site Audits	To maintain a high level of health and safety compliance, we conduct regular on-site inspections and audits. These assessments include:
	• Work quality and safety checks
	• Frequent safety analysis
	• Awareness campaigns
	• Incident reporting and corrective actions
	• QHSE (Quality, Health, Safety, and Environment) audits
	• On-site safety compliance verification
Written agreements	Our Service Contracts with subcontractors outline their health and safety responsibilities, including compliance with environmental and occupational safety standards and business partners code of conduct. Through our rigorous selection process, mandatory training, continuous monitoring, and contractually enforced safety requirements, we ensure that subcontractor workers operate in a safe environment, aligning with our commitment to workplace safety and regulatory compliance. By continuously improving our processes and maintaining close oversight, we proactively mitigate health and safety risks across our value chain.

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Topic	Main action description
High dependence on Subcontractors	• Strategic Partnerships: We develop strategic, long-term relationships with key subcontractors. We strengthen our relationships with subcontractors while maintaining the ability to adapt to changing needs.
	• Diversification of Suppliers: We work with a large number of small and medium-sized subcontractors, rather than relying on a few large ones. This approach reduces the risk in case any subcontractor breaks the contract or fails to meet their obligations, ensuring that ongoing projects are not significantly impacted.
	• Recruit and Train Internal Talent: We focus on building a strong internal workforce by investing in recruitment (e.g. hiring young people under 30 years old), training programs, and career development to ensure that we retain key skills.
	• Regularly Assess the Proportion of Work Outsourced: We regularly assess the proportion of work outsourced and adjust the balance based on business needs and risks.
	• mySupplace (internal platform): We use S30 platform, “mySupplace”, to register subcontractors interested in working with us. This extensive database, organized by business area, specific tasks, geographic location, team size, and more, allows to act swiftly in case of the need to replace subcontractors. By efficiently selecting and managing subcontractors, mySupplace minimizes the risk of disruptions due to absence or contractual issues. By implementing these actions, we can manage our dependence on subcontractors, ensuring operational flexibility and better control over costs and quality.
Possible subcontractor misconduct	Our written agreements (subcontractor contracts), the Business Partners Code of Conduct, and our Whistleblower Policy all play crucial roles in mitigating the risk of subcontractor misconduct. Together, these documents and policies establish a strong framework to ensure that all subcontractors adhere to our legal, ethical, and operational standards.
	• Subcontractor Contracts
	Our subcontractor contracts clearly outline the specific terms, expectations, and obligations of both parties. These agreements define the legal requirements subcontractors must follow, including compliance with labor laws, human rights, safety regulations, and sustainability standards. By specifying these terms in writing, we establish a clear understanding of the standards subcontractors are expected to meet. This reduces the likelihood of non- compliance and provides us with legal recourse if misconduct occurs, ensuring that we can take necessary action when needed.
	• Business Partners Code of Conduct
	Our Business Partners Code of Conduct sets out the ethical principles and values that subcontractors must adhere to, covering areas such as labor practices, environmental sustainability, and health and safety. This document acts as a guideline for all our business partners, ensuring they align with our commitment to responsible business practices. By requiring subcontractors to acknowledge and commit to the Code of Conduct, we reinforce the importance of maintaining high standards of integrity and social responsibility. It also provides a reference point for monitoring subcontractor behavior and addressing any violations if they arise.
	• Whistleblower Policy
	Our Whistleblower Policy provides a confidential and anonymous channel for employees, subcontractors, and other stakeholders to report any suspected misconduct or violations of our policies and regulations. By offering this secure reporting system, we encourage a transparent and proactive approach to addressing issues before they escalate. The Whistleblower Policy not only helps us identify potential misconduct early but also protects individuals who report concerns from retaliation, fostering a culture of accountability and integrity within our operations.

Local Job Creation and Improved Labor Standards

We actively promote local job creation and improved labor standards by implementing concrete measures with our subcontractors. Our mySupplace platform allows our subcontractors to see our needs and enables them to apply for local, regional, or even international jobs, maximizing the range of opportunities, which will certainly have a positive impact on promoting and increasing local employability. Fair wages and worker rights are enforced through contractual agreements, regular audits, and compliance checks. To guarantee safe working conditions, we implement strict health and safety requirements and conduct on-site inspections.

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3.3.2.4. Objectives, Targets and Key Performance Indicators (KPIs)

Our Targets for 2025

Currently, the Group has not yet defined specific quantitative objectives or targets directly related to the impacts, risks, and opportunities associated with value chain workers (subcontractors), such as incident rates, training hours, or other performance indicators. However, we have established an objective related to subcontractor oversight: “Ensure that at least 97% of active subcontractors are registered on the mySupplace platform,” as detailed in sub chapter 3.4. Governance.

Given the large number of subcontractors operating across multiple geographies and the current limitations in the availability and consistency of data, the definition of robust, quantifiable targets requires a strengthened data foundation. Throughout 2025, the Group focused on assessing existing practices, mapping available information, and identifying the requirements necessary to enable a more systematic and comprehensive approach to data collection and ESG engagement within our supply chain.

Building on this preparatory work, Solutions30 has set, for 2026, the objective of implementing a structured and harmonized data collection process and enhancing engagement with subcontractors on ESG related matters. This initiative will allow us to consolidate the information needed to develop future measurable objectives and targets fully aligned with our internal policies, our ESG strategy, and the ESRS disclosure requirements for value chain workers. This strengthened data governance framework will also support improved monitoring, risk prevention, and continuous improvement across the subcontractor ecosystem, reinforcing our commitment to responsible business practices throughout the value chain.

3.3.2.5. Due Diligence Data

Third-party Due Diligence - Supply Chain

In 2025, the Group’s Compliance team conducted a total of 1,282 Third Party Due Diligence (TPDD) assessments on subcontractors and other business partners, averaging more than 105 compliance checks per month. These assessments form a key component of our governance framework, helping ensure that all third parties operating within the Group’s value chain meet our standards on integrity, regulatory compliance, ethics, and contractual obligations. The TPDD process covers a range of risk domains— including legal, financial, ethical, and operational criteria— and is essential not only for onboarding new subcontractors but also for continuously monitoring compliance throughout the duration of each partnership. This systematic approach strengthens transparency, mitigates potential risks, and reinforces the Group’s commitment to responsible business conduct. Detailed TPDD process data, together with a comprehensive summary of the results obtained in 2025, are provided in section “3.4.1.5 Governance Data”.

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3.3.3. ESRS S4 – Consumers and End-Users

3.3.3.1 Our approach and policies

The Group operates with a strong sense of responsibility towards its customers, employees, partners, communities, and the environment, aiming to foster sustainable growth through technologies that drive inclusion and create new opportunities. While pursuing its business objectives, Solutions30 remains committed to acting with openness, integrity, and transparency. It also expects all stakeholders to uphold the highest standards of respect for people and the environment. As a long-term partner in the economic and social development of the regions where it operates, Solutions30 focuses on three key areas:
* Hiring and training local talent
* Sourcing goods and services from local suppliers
* Supporting the development of local infrastructure

The Group’s sustained growth contributes to local communities by generating employment opportunities, enhancing technical skills, and improving workforce employability. To further support local economies, Solutions30 collaborates with businesses, educational institutions, and employment agencies to provide training programs and create new job opportunities. Through these initiatives, the Group actively promotes the long-term, sustainable development of the communities in which it operates. Solutions30 also contributes to developing local infrastructure through its everyday activities.

Digital transformation

As connectivity continues to expand, Solutions30’s growth is driven by strong and sustainable market trends. Across Europe, countries are modernizing their telecommunications networks to enhance performance. Solutions30 is well-positioned to support national service providers in deploying subscriber connections and adopting new technologies. With a diverse customer base - from individuals to large corporations - the Group delivers services and applications for fixed-line, mobile, data, and cloud infrastructures, operating within highly complex technological ecosystems. The group has developed a centralized IT platform that serves as the nervous system of its organizational structure. Leveraging the full potential of this IT platform and its underlying technology in real time is a leading priority for Solutions30, which invests to continuously improve its IT platforms.

Driving the Development of a Digital Society

Solutions30 plays a central role in shaping the digital society of the future. Every day, the Group manages several tens of thousands of service call-outs, leveraging its expertise, integrated solutions, and technological capabilities to support customers, end users, and society at large. By combining strong corporate values, business insight, technological know how, and a well established local presence, Solutions30 helps people fully adopt and benefit from new technologies. This commitment is made possible by its 5,907 employees (2025 annual average headcount, excluding the UK and the telecommunications activity in Spain), whose technical competencies span nine European countries.

As a trusted partner in Europe’s digital transformation, Solutions30 is dedicated to creating long term value and accelerating the digital transition. The Group delivers essential technical services throughout the value chain, working closely with clients, subcontractors, and other partners to ensure reliable, high quality support for critical digital and energy related infrastructures.

Digital Rights and Data Protection

Safeguarding privacy and personal data is not only a legal obligation but also a key factor in building trust among customers and all stakeholders. Solutions30 places a strong emphasis on data security and has updated its Privacy Policy to ensure full compliance with applicable privacy laws and regulations. This policy outlines the circumstances under which personal data is processed and the measures in place to protect individuals’ privacy. We have implemented a Data Privacy Policy to ensure compliance with applicable privacy laws, particularly the General Data Protection Regulation (GDPR) and also those established by local data privacy laws, which establish narrower criteria for the protection of personal data. Implementing confidentiality and security measures to prevent unauthorized access to computers, databases, and websites, thus protecting the personal information and data of all its stakeholders is one of the Group’s major priorities. This policy outlines how personal data is collected, used, and protected, with additional safeguards in place when stricter local laws apply. The Group is committed to processing personal data lawfully, transparently, and securely, ensuring accuracy, data minimization, and confidentiality. It collects personal data from various sources, including website interactions, job applications, and service usage. The policy also details how personal data is used for providing services, managing communications, and fulfilling legal obligations. All countries where the Group operates follow strict security standards. The policy also covers data retention, ensuring that personal data is kept only as long as necessary for its intended purpose. For further details, visit www.solutions30.com. In 2024, our Personal Data Protection Management System (“privacy information”) was certified by the BBB National Programs Vendor Privacy Program. This certification applies to our entities in France, Belgium, Solutions30 | Annual Report 2025 135 Italy, Germany, Luxembourg, Spain, the Netherlands, and the United Kingdom. In October 2025, the Group decided not to renew the “BBB National Programs Vendor Privacy Program” certification for 2026. This decision followed a detailed assessment of the certification’s relevance, added value, and alignment with our strategic priorities in the area of data protection.Initially, obtaining this certification, despite its limited visibility and recognition in Europe, was motivated by the expectations of one of our Top80 client, for whom this accreditation represented a valued assurance criterion. Since this client has recently removed the certification from its requirements, we reassessed whether maintaining it would continue to offer any tangible benefits for the management and continuous improvement of our personal data protection management system. This review concluded that the certification no longer provides added value to our processes or compliance framework. Moreover, the BBB program remains primarily recognized in the United States and offers limited applicability within the European regulatory environment. In Europe, personal data protection is governed by the General Data Protection Regulation (GDPR), which provides a more comprehensive and stringent set of requirements than those covered by the BBB certification. As such, maintaining the BBB certification does not significantly strengthen our compliance posture nor meet the expectations of our European stakeholders. For these reasons, we will maintain our focus on upholding and continuously enhancing our internal policies and procedures aligned with the GDPR and relevant national regulations. This approach ensures a robust, coherent, and future oriented data protection framework across all our European operations, while reinforcing our commitment to high standards of privacy, security, and responsible data management. ■

Cybersecurity

In an increasingly digital world, cybersecurity is critical for industries that rely on connectivity, such as telecommunications, IT and even energy. As these sectors continue to evolve, ensuring the security of data, infrastructure, and communications is essential to maintaining trust, reliability, and compliance with regulatory requirements.

At Solutions30, we recognize the importance of robust information security management and have been steadily expanding the number of Group entities and countries with ISO 27001-certified Information Security Management Systems (ISMS). In 2025, 45% of our employees operate within entities covered by this internationally recognized certification. Our operations in France, Italy, Luxembourg, and the United Kingdom are already ISO 27001 certified, demonstrating our commitment to safeguarding information and mitigating cyber risks. Meanwhile, our teams in Belgium, Germany, the Netherlands, Poland, Portugal, and Spain are also follow the best practices aligned with this standard, but not yet certified.

In 2025, more than 3,000 Group employees completed the mandatory “Cybersecurity” training, representing 55% of all active employees as of 31 December 2025. Strengthening cybersecurity awareness across the Organisation remains a key component of our broader commitment to data protection, operational resilience, and responsible digital practices. As mentioned previously, our ambition for 2026 is to significantly increase participation rates. A dedicated target has been established: at least 70% participation among all 3 employees performing managerial, administrative, or staff functions. These roles typically involve continuous use of digital tools and access to information systems, which naturally exposes them to higher levels of cybersecurity risk. Ensuring that these employees receive regular, high‑quality training is therefore essential to maintaining a robust cybersecurity posture across the Group. By prioritising training for the roles most exposed to digital threats, we aim not only to strengthen individual awareness and competencies, but also to reinforce our collective capacity to prevent, detect, and respond to cybersecurity incidents. This approach contributes directly to the protection of client data, internal systems, and the long‑term integrity of our operational environment.

In 2025, the Group’s information security management performance was formally recognised with the award of the CyberVadis Silver Medal, one of the most reputable international distinctions in the field of cybersecurity and information security assessment. Solutions30 achieved an overall score of 870 out of 1,000 points, reflecting the maturity of our controls, the robustness of our processes, and our continued commitment to protecting data and digital assets across the Organisation. This recognition reinforces the effectiveness of our information security governance model and demonstrates the progress achieved in strengthening our internal policies, risk management framework, and operational practices related to cybersecurity resilience. Additional information on this distinction, as well as other achievements related to our ESG performance, can be found in sub‑chapter 3.6 of this Sustainability Statement. By continuously strengthening our cybersecurity framework, we enhance the resilience of our services, protect sensitive data, and support our clients in their digital transformation with the highest security standards.

3.3.3.2. Material Impacts, Risks and Opportunities (IRO)

In the next image, we present the materiality level of each sub-topic related to the topic “Consumers and end-users.” This aims to highlight the relative importance of each sub- topic, within the Solutions30 Group.

Solutions30 | Annual Report 2025 136

Our DMA indicates that “Cybersecurity and Data protection” related events could have a high financial and material impact. “Customer experience and satisfaction” related events can have a high financial impact and low material impact while “Digital and technological inclusion” events can have low financial and a high material impact.

The next table outlines the sustainability-related impacts, risks, and opportunities (IRO) identified and assessed as material through our double materiality assessment process. Specifically, it refers to the IROs associated with “Consumers and end-users (ESRS S4).” Within the table, we indicate the impacts and risks for Consumers and end- users. Additionally, we specify whether these impacts are positive or negative. Unless explicitly stated as potential impacts, all impacts are considered actual:

3 ESRS S4 – Consumers and end-users
* Cybersecurity and Data protection
* Customer experience and satisfaction
* Digital and technological inclusion

IRO Identification	Material impact, risk or Opportunity	Description
Positive impact	Promoting Digital Inclusion	The telecommunications and connectivity sector plays a pivotal role in promoting digital inclusion by enabling access to remote work opportunities. Reliable internet connectivity allows individuals from remote or underserved regions to participate in the global job market, overcoming geographical and socio-economic barriers. This connectivity facilitates access to job listings, online interviews, and remote collaboration tools, opening doors for people who might otherwise face challenges finding employment. By supporting remote work, telecommunications also help bridge the gap in skill development. Individuals can access online training, workshops, and courses that enhance their employability, allowing them to acquire new skills or improve existing ones. This access to continuous learning empowers people to adapt to the evolving digital job market, ensuring they remain competitive. Moreover, the ability to work remotely creates economic opportunities for people in rural or economically disadvantaged areas, while also benefiting those with disabilities, especially individuals with mobility challenges. Remote work eliminates the need for commuting and physical presence in a workplace, making employment more accessible and inclusive. By fostering a more inclusive workforce, the telecommunications sector helps promote equality, economic growth, and opportunities for all, including those who face physical barriers to traditional work environments.
Negative impact (potential)	Cybersecurity and data protection measures on customer trust and societal privacy concerns	Customer trust is the cornerstone of any successful business relationship. In an era where data breaches and cyberattacks are becoming more common, consumers are increasingly concerned about the safety of their personal information. Customers want assurance that their data is being handled securely. If we fail to implement proper cybersecurity protocols and experience a breach, it can have a significant impact on our customers and their clients, resulting in a loss of trust and, ultimately, the potential loss of contracts.
Risk	Leakage or inappropriate treatment of confidential data	The risk of leakage or inappropriate treatment of confidential data represent a risk of non-compliance with the GDPR as well as a financial risk as non-compliance with GDPR is highly sanctioned. Main risks: – Accidental deletion or corruption of critical information – Data transmitted or stored without sufficient security measures – Unauthorized access due to poor identity management practices – Misconfigurations or weak controls in cloud environments

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ESRS S4 – Consumers and end-users
* Cybersecurity and Data protection
* Customer experience and satisfaction
* Digital and technological inclusion

IRO Identification	Material impact, risk or Opportunity	Description
Risk	Cyber-attacks	Cyber-attacks and other IT threats pose a significant risk to our operations, potentially causing long-term disruptions. These events not only create operational challenges but also harm our reputation by preventing service delivery, leading to customer dissatisfaction and hindering technicians from providing or maintaining services.

– Regulatory Non-Compliance
– Unauthorized Access to User Accounts
– Vulnerable Assets
– Slow or Inadequate IT Security Incident Response
– Social Engineering Threats

Risk Customer or contract loss due to dissatisfaction

The risks associated with customer satisfaction can severely impact our results and reputation. Poor quality or inconsistency in services, experiences that do not meet customer needs, and long waiting times to resolve complaints can lead to dissatisfaction and a loss of trust. Our customer satisfaction is also compromised if we fail to deliver on promises or advertised standards, provide defective services, or communicate inadequately. Delays or ineffectiveness in resolving issues, along with data breaches or misuse of customer information, can cause irreparable damage to trust, potentially leading to the loss of contracts and even customers.

Opportunity Cybersecurity as a Competitive Advantage and Trust Builder

By implementing and showcasing strong cybersecurity measures, we can enhance customer confidence and position ourselves as a reliable and secure partner. In a market where digital security is a growing concern, offering solutions with high protection standards can be a key differentiator. This not only helps us stand out from the competition but also attracts customers who prioritize security. Additionally, integrating cybersecurity into our services opens new business opportunities, particularly in critical sectors that require robust protection, such as digital infrastructure, communication networks, and smart energy solutions.

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3.3.3.3. Actions to mitigate impacts or risks and maximize opportunities

Solutions

Solutions30 has conducted a thorough assessment to identify the Impacts, Risks, and Opportunities (IRO) relevant to its operations. Based on this analysis, the company has strategically planned, defined, and implemented a comprehensive set of actions aimed at minimizing negative impacts and risks while maximizing potential opportunities. These actions are designed to enhance operational efficiency, strengthen employee well- being, and support sustainable growth. To ensure continuous improvement, Solutions30 actively monitors the outcomes of these initiatives and regularly evaluates their effectiveness. This approach allows for necessary adjustments and optimizations, ensuring that the actions remain aligned with the company’s strategic objectives and evolving challenges. The next table provides a summary of the actions and projects that have been implemented or are planned, in alignment with our strategy and policies related with “cybersecurity and data protection,” “customer experience and satisfaction,” and “digital and technological inclusion”.

Topic	Main action description
Leakage or inappropriate treatment of confidential data	• Personal Data Protection Management System (“privacy information”) certified by the BBB National Programs Vendor Privacy Program, for the Solutions30 Group entities in France, Belgium, Italy, Germany, Luxembourg, Spain, the Netherlands, and the United Kingdom. This certification covers 93% of the Group’s revenue and 81% of Group employees.
	• Data Protection Policy and procedures in place.
	• Each country has an appointed Data Protection Officer (DPO) reporting to the Group Head of Legal. They oversee GDPR compliance at their respective entities. All DPOs meet periodically to share practices, address concerns and potential non‑conformities, and strengthen compliance across the entire Group.
	• GDPR training to all S30 Group employees: Since 2022, it is mandatory for all new employees to complete GDPR training at onboarding. As of 31 December 2025, 5,151 active employees had completed the Group’s GDPR training, representing a participation rate of approximately 94%. This exceptionally high level of coverage reflects the strong commitment across the organisation to fostering a culture of data protection and regulatory compliance.This result demonstrates not only the effectiveness of our internal awareness programmes, but also the engagement of our teams in upholding the principles and requirements of the General Data Protection Regulation. Ensuring that employees understand their responsibilities when handling personal data remains a foundational element of our broader approach to information governance and risk management.
Cybersecurity / Cyber-attacks	• ISO 27001 Certification (Information Security Management System) - A significant portion of our entities are ISO 27001 certified 45% of our employees operate within entities covered by this internationally recognized certification. Non-certified entities adhere to the same security principles.
	• The Group IT Security function monitors regulatory requirements, supported by a control framework aligned with the NIS2 Directive and ISO 27001 standard, a centralized risk management system, and newly established Group IT Security policies.
	• Regarding the risk of unauthorized Access to user accounts, initiatives have been launched to centralize user management, review access, restrict and secure administrative accounts, and implement physical security keys for access to critical systems.
	• Regular penetration testing and vulnerability assessments are conducted across Group IT assets, with a centralized process for tracking remediation progress.
	• Regarding “Slow or Inadequate IT Security Incident Response” risk, policies and procedures for IT security incident management have been established, reporting channels have been centralized, awareness campaigns have been conducted, and incident response exercises have been held.
	• Cybersecurity training: applicable to all S30 Group employees. Since 2023, it’s mandatory to all new employees to complete cybersecurity training at onboarding; In 2025, 3000 employees attended the cybersecurity training. Over the past three years (2023 to 2025), 80% of all active employees as of 31 December 2025 have completed the Group’s internal Cybersecurity training.
	• Regarding “Social Engineering Threats” risk, employees receive phishing awareness training, and phishing simulation exercises are organized.
Customer or contract loss due to dissatisfaction	• Strong, multi-faceted relationships with key clients : Solutions30’s success is closely tied to service quality and customer satisfaction. A significant portion of the Group’s revenue comes from key accounts with major clients, making customer retention essential. Losing a major customer could have a direct impact on revenue, cash flow, and future growth prospects. To mitigate this risk, Solutions30 fosters strong, multi-faceted relationships with key clients. Instead of relying on a single contract, engagements are structured through multiple agreements organized by geographic region, activity, or end-user category.
	• Quality service: to prevent customer or contract loss due to dissatisfaction, we must ensure service quality, reliability, and clear communication. This includes consistently delivering on promises, resolving issues promptly, and gathering customer feedback to drive improvements. Strengthening customer support, reducing response times and improving our sustainability performance also key to maintaining trust and satisfaction.
	• ISO 9001 Certification (Quality Management System): Our dedication to quality management is reinforced through ISO 9001:2015 certification in 7 countries (Belgium, France, Italy, Luxembourg, Netherlands, Poland, and Spain). Other countries follow the same quality standards to maintain consistency. Solutions30 also integrates corporate social responsibility principles into its operations, ensuring customer satisfaction downstream and ethical supply chain management upstream.
	• Meet Customer Needs: To ensure that the services we provide consistently meet customer needs and all applicable requirements, the Group has defined a structured approach built around four key pillars:
	– Customer Relations Management : this includes the acquisition of new contracts through public tenders and private proposals, as well as the ongoing management of relationships with existing clients. Our aim is to understand expectations, anticipate needs, and ensure that the solutions we deliver provide measurable value.
	– Supplier Management : we manage and check our suppliers, including subcontractors, to ensure the reliable sourcing of materials, labour, and services. This approach supports operational continuity, reinforces quality standards across the value chain, and helps maintain responsible procurement practices.
	– Resource Management: this involves ensuring that all necessary resources, facilities, equipment, workplaces, vehicles, and technical infrastructure, are properly allocated, maintained, and adapted to operational requirements. Effective resource management is essential to guaranteeing service quality, employee safety, and operational efficiency.
	– Operations Management: we implement clear rules, defined processes, and structured controls to oversee critical aspects of service delivery, including work delegation, planning, execution, and quality inspections. This framework ensures that call outs and field interventions are carried out efficiently, safely, and in line with contractual commitments. Through these four steps, the Group aims to maintain a robust and customer centric operational model, ensuring reliability, efficiency, and continuous improvement across all activities.
	• Customer Loyalty Program: at the heart of our Customer Loyalty Program is a commitment to fostering mutually beneficial relationships with our Customers. We recognize that each Customer has unique needs and challenges, and our approach is designed to ensure that we deliver exceptional value and consistent improvement.

3 Solutions30 | Annual Report 2025 139The goal was not only to identify the needs of target customers, but also to anticipate them with available data analytics. – Our process begins with gathering comprehensive feedback through an in-depth survey. This survey is carefully crafted to gather input from all levels within our Customers, from legal and finance teams to operations staff and executive leadership. By capturing a wide range of perspectives, we gain a holistic understanding of the Customer’s experience, pain points, and expectations. This data serves as the foundation for understanding how we can best support our Customers and enhance their overall experience with our services. – Once we have collected and analyzed the survey responses, we work collaboratively with our Customers to develop an actionable improvement plan tailored to their specific needs. This plan is not just a set of recommendations; it’s a partnership between our team and the Customer to implement meaningful changes. Whether it’s refining processes, improving service delivery, or addressing specific operational challenges, we prioritize solutions that align with the Customer’s goals. – The ultimate goal of our Customer Loyalty Program is to build long-term relationships based on trust, transparency, and mutual success. By involving Customers directly in the process and making improvements that directly benefit their operations, we not only enhance customer satisfaction but also increase loyalty and retention. This program aims to put us as a true partner, committed to the ongoing success and growth of our Group and our Customers.

3.3.3.4. Objectives, Targets and Key Performance Indicators (KPIs)

■ Our Targets for 2026

Currently, we have not established quantified objectives and targets directly linked to the impacts, risks, and opportunities associated with customers, consumers, and end-users. In 2025, we continued progress with our Customer Loyalty Program, with its implementation in place for three key countries (Belgium, France, and Poland) which together account for nearly 75% of the Group’s total revenue. Our primary goal for 2026 is to continue this program for selected countries within the Group. By doing so, 2024 and 2025 will serve as a reference period for tracking customer satisfaction results based on the methodology of this program. This data will enable us to define measurable objectives and targets in the near future.

3.3.3.5. Main data

■ Customer Loyalty

The table below presents the number of TOP 80% Customers over the past three years.

Customer loyalty	2023	2024	2025
Number of TOP 80% Customers	20	24	26

NOTE: TOP 80% refers to the number of customers with the highest business volume who, together, account for 80% of the Group’s total revenue. The increase in the number of TOP 80% Customers from 20 in 2023 to 26 in 2025 is a positive point for the Group. By distributing 80% of our total revenue across a larger number of key customers, we effectively reduce our dependency on a few major clients, thereby mitigating financial and operational risks.

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GOVERNANCE SUPERVISORY BOARD AND COMMITTEES

100% Independent Members	Members with Complementary Skills and Responsibilities
Expanded to ESG

9 years Average Seniority	100% Attendance Rate (Average)

See Chapter 4 on Corporate Governance for detailed data.

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3.4 Governance

3.4.1. ESRS G1 – Business Conduct

3.4.1.1 Our approach and policies

Since 2021, Solutions30 has been implementing a comprehensive transformation plan to enhance governance, risk management, and compliance (GRC) across the Group. This initiative aimed to standardize policies, strengthen internal controls, and establish best practices throughout the organization. All policies and procedures were reviewed and improved within Solutions30 and implemented best practices and harmonized processes across the Group. Key focus areas included third-party due diligence (TPDD), risk management, whistleblowing mechanisms, compliance training, and disciplinary procedures. Through this project, Solutions30 has consolidated its foundations to better build its future and growth. Compliance standards have been established across the organization to guide all business relationships between the Group and its partners. As a benchmark for the GRC Project, Solutions30 chose to use the French anti-corruption law Sapin II and focused on the following areas of work (for more details, see chapter 2.4):

• Standardization of the Third-Party Due Diligence (TPDD) process;
• Standardization of risk management procedures and strengthening of internal control;
• Review of codes of conduct;
• Improving the whistleblowing process and whistleblowing platform;
• Definition of disciplinary measures;
• Control and monitoring.

The main policies developed are available on the GRC platform (internal GRC platform) accessible to all employees in all our operating languages. This new governance allowed the company to prioritize verifying compliance, ensuring effective implementation. Key achievements included mandatory GRC training for all employees, improved TPDD processes, strengthened compliance oversight at the country level, and the successful deployment of a whistleblowing platform aligned with the EU Whistleblower Directive. Additionally, on-site compliance audits and internal controls were introduced, leading to increased transparency and commitment across subsidiaries. To reinforce GRC accountability, compliance objectives were integrated into management performance evaluations, and in Q1 2024, Solutions30 established an internal audit department. The revised Group Internal Audit Charter now provides a structured framework for governance, risk assessment, and operational auditing. These ongoing efforts underscore Solutions30’s long-term commitment to ethical business practices and regulatory compliance.

The Group has defined and implemented the following policies related to governance and compliance:

• Anti-Corruption Policy: Solutions30 has implemented a global Anti-Corruption Policy to ensure compliance with national and international laws while maintaining ethical business conduct. The policy prohibits bribery, conflicts of interest, facilitation payments, and any form of corruption, requiring employees and third parties to adhere strictly to legal and ethical standards. It defines key terms, outlines behavioral requirements, and establishes strict rules regarding gifts, hospitality, 3 donations, sponsorships, and interactions with public officials. Employees must report any solicitation or extortion attempts, and all financial transactions must be accurately recorded. Violations may result in disciplinary actions, including termination and legal consequences. To prevent corruption, Solutions30 has established mandatory anti-corruption training, a whistleblowing mechanism, third-party due diligence, and background checks for key managers. Regular monitoring and evaluation ensure policy compliance across all subsidiaries. The Group’s commitment to transparency and integrity is reinforced through its internal controls, ensuring a responsible approach to business operations worldwide.
• Third Party Due Diligence (TPDD) Policy: Solutions30 has implemented a TPDD Policy to ensure compliance, integrity, and ethical business practices across its operations. This policy aligns with regulatory frameworks such as the Sapin II Law and the UK Bribery Act, aiming to manage financial and reputational risks associated with third-party relationships. The TPDD policy evaluates the integrity and reliability of business partners before engaging in formal agreements. This process helps Solutions30 minimize legal, financial, and reputational risks by ensuring compliance with ethical and regulatory standards. Continuous monitoring is also established to address evolving risks. The due diligence process involves an initial risk classification, a compliance quick check, and, if necessary, a deep dive compliance review to investigate potential red flags. If risks are identified, business partners may be required to follow a mitigation plan before being approved. Contracts can only be established once due diligence is successfully completed. To ensure compliance, Solutions30 enforces continuous monitoring, documentation, audits, and verification. The policy assigns clear roles to internal teams responsible for governance, risk management, and compliance oversight. Non- compliance may result in disciplinary actions, reinforcing the company’s commitment to transparency and ethical business conduct.
• Sanction Management Policy : The document outlines the Sanction Management Policy of Solutions30, ensuring compliance with national and international laws, the company’s Code of Conduct, and internal regulations. The policy applies to all employees, emphasizing integrity, fairness, and legal compliance. Any violations of external laws or internal rules are subject to sanctions. The process ensures fairness through an investigation led by the Group Solutions30 | Annual Report 2025 142 Head of Risk & Compliance, involving supervisors and HR representatives. The goal is to apply sanctions proportionally, based on the severity of misconduct. All cases are documented for transparency, and whistleblowers are protected against retaliation. The company ensures confidentiality and non-retaliation for whistleblowers. Any obstruction, intimidation, or retaliation against them is treated as a serious violation. This policy reinforces ethical behavior and accountability within Solutions30.
• Whistleblower Policy: This policy ensures a transparent and ethical work environment by encouraging employees, partners, and stakeholders to report misconduct, including fraud, corruption, and legal violations, without fear of retaliation.It provides secure and confidential reporting channels, outlines the process for handling reports, and protects whistleblowers from discrimination. Investigations are conducted fairly, maintaining confidentiality while ensuring compliance with laws and company policies.

• Risk & Internal Control:

The Risk & Internal Control Manual of Solutions30 outlines guidelines for governance, risk management, and compliance, ensuring operational efficiency, the reliability of financial reporting, and adherence to regulations such as the Sapin II Act. It defines key concepts like the Internal Control System (ICS), Risk & Control Matrix (RCM), and testing methodologies (Test of Design and Test of Effectiveness). The manual details the roles and responsibilities of the Supervisory Board, Group Management Board, Risk & Compliance Head, local management, and control owners. The ICS process follows a structured cycle of risk assessment, control activities, monitoring, and communication, with annual evaluations to verify effectiveness. S30 have implemented Enterprise Risk Management (ERM) framework based on COSO and envolving all the entities of the Group, please check Chapter 2 for more detail informations.

• Code of Conduct:

This document outlines the company’s commitment to ethical behavior, compliance, and responsible business practices. It covers three main areas: societal responsibility, including respect for human rights, equal treatment, and environmental sustainability; business ethics, prohibiting corruption, conflicts of interest, and insider trading while promoting fair competition; and workplace responsibility, ensuring occupational safety, data protection, IT security, and proper asset management. The document is binding for employees and partners, with guidelines, examples, and a whistleblowing system to uphold integrity and corporate values.

• Business Partner Code of Conduct:

Solutions30’s Business Partner Code of Conduct sets ethical, legal, and operational standards for suppliers, subcontractors, and partners, aligning with international frameworks like the ILO and UN guidelines. Business partners must maintain ethical stakeholder relationships, uphold human rights by prohibiting discrimination and forced labor, and commit to sustainability by minimizing environmental impact. They are also required to prevent conflicts of interest, comply with anti-bribery and anti-money laundering laws, and support fair competition. Additionally, business partners must ensure workplace safety, protect data privacy, and safeguard intellectual property. Compliance with the Code is mandatory, with violations potentially leading to corrective actions or termination of the business relationship. Solutions30 encourages transparency and accountability, offering a Whistleblowing System for confidential reporting of any misconduct. Solutions30 requires all business partners to operate responsibly, act with integrity, and contribute to sustainable and ethical business practices. This code of conduct help us to ensure that all our business partners, including suppliers and subcontractors, sales partners and clients, meet our minimal requirements of doing business. The defined requirements are considered the basis of a successful and trustful execution of business relations between Solutions30 and its partners. Solutions30 has communicated this Business Partner Code of Conduct to all its business partners. Solutions30 expects its business partners to immediately report actual or suspected violations of law, this Business Partner Code of Conduct, or contractual obligations. Various reporting channels are available for our business partners to report such violations. Reports can be delivered to the business partner’s commercial contact at Solutions30 or confidentially through the Whistleblowing System.

In 2025, all previously established policies were reviewed to ensure continued alignment with evolving regulatory requirements and best practices. In addition, the Group introduced a new policy governing the use of Artificial Intelligence (AI).

• Artificial Intelligence Policy :

The Solutions 30 Group AI Policy establishes a comprehensive framework for the ethical, secure, and compliant use of AI across the organization. The policy applies to all employees and relevant third parties involved in the development, deployment, or use of AI systems and is aligned with applicable regulations, including the EU AI Act and the General Data Protection Regulation (GDPR). The policy requires that AI be used lawfully, transparently, and responsibly, with clear accountability and mandatory human oversight. It reinforces the Group’s commitment to fairness, non- discrimination, data protection, and cybersecurity. The misuse of AI, including the creation or dissemination of misinformation, deepfakes, manipulative practices, or the unauthorized processing of personal or confidential data, is strictly prohibited. An AI Committee has been established to oversee governance, review and approve AI use cases and tools, and monitor high-risk systems. Microsoft Copilot has been designated as the default approved generative AI tool, the use of any alternative solutions requires prior authorization. All AI systems are subject to risk assessments, ongoing monitoring, periodic audits, and mandatory AI literacy training. Any breach of the policy may result in disciplinary measures and, where applicable, legal action.

All of our policies have been approved by the Management Board and are overseen by our Supervisory Board. These policies apply to all Group employees, subcontractors and business partners. All our policies Solutions30 | Annual Report 2025 143 listed above can be consulted in our website at: www.solutions30.com.

3.4.1.2. Material Impacts, Risks and Opportunities (IRO)

In the image below, we present the materiality level of each sub-topic related to the topic “Business Conduct” This aims to highlight the relative importance of each sub- topic, within the Solutions30 governance and compliance strategy. In terms of governance, our DMA indicates that the due diligence verification of suppliers and subcontractors, as well as Business ethics related events could have a high financial impact and low material impact. It also shows that Responsible procurement related topics could have low financial and material impacts on our activities. Additionally, we specify whether these impacts are positive or negative. Unless explicitly stated as potential impacts, all impacts are considered actual. The table below outlines the governance-related impacts, risks, and opportunities (IRO) identified and assessed as material through our double materiality assessment process. Specifically, it refers to the IROs associated with 3 “Business Conduct (ESRS G1).”

ESRS G1 – Business Conduct

• Business ethics and regulatory compliance
• Company Governance
• Due diligence and evaluation of suppliers and subcontractors

IRO Identification	Material impact, risk or Opportunity	Description
Risk	High subcontracting rate	Half of our technicians are outsourced, primarily from small companies. Their non-compliance with external and internal regulations poses legal, operational, and reputational risks to our operations. In addition, given the proportion of external subcontractors and the nature of our activities, such risks, if realized, could have a significant financial impact on our business.
Risk	Business ethics (corruption, bribery, or conflicts of interest damaging reputation)	Actions by employees that conflict with organizational values. Failing to foster an inclusive and respectful workplace. Misleading claims about sustainability or corporate responsibility. Association with suppliers engaging in exploitative practices.
Risk	Regulatory Compliance	Fines or legal actions due to failure to meet regulatory requirements. Violations of GDPR. Mismanagement of tax compliance leading to reputational and legal risks. Failure to meet ESG (Environmental, Social, and Governance) regulations. Lack of up-to-date internal policies to address evolving regulations.
Risk	Company Governance	Lack of clear reporting leading to mistrust among stakeholders. Inadequate oversight or governance by leadership. Conflicts arising from misaligned interests or lack of communication. Financial misstatements or fraudulent transactions.
Risk	Dialogue & partnerships with stakeholders	Ambiguity or misinterpretation of information leading to conflicts. Eroding trust due to perceived or actual lack of transparency. Conflicting priorities or expectations. Key stakeholders feeling ignored or undervalued. Challenges in communication or collaboration across diverse stakeholders. One partner dominating the relationship or decision-making. Vulnerability if the partner fails to deliver or exits. Breach of terms or responsibilities. Association with stakeholders whose actions harm the brand. Overcommitting time or finances to partnerships with low ROI.

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ESRS G1 – Business Conduct

• Business ethics and regulatory compliance
• Company Governance
• Due diligence and evaluation of suppliers and subcontractors

IRO Identification	Material impact, risk or Opportunity	Description
Risk	Responsible procurement	Suppliers not complying with environmental regulations or causing pollution. Use of child labor forced labor, or unsafe working conditions. Public backlash due to unethical practices in the supply chain. Increased costs due to unsustainable sourcing or supplier penalties. Non-compliance with local or international laws and standards. Disruptions in the supply chain due to unethical or unsustainable practices.
Opportunity	mySupplace (our platform for managing subcontractors) and our TPDD Policy	Develop and enhance our internal platform for managing subcontractors and analyzing their compliance. A solid TPDD policy and process increases customer trust and reduces the risk of fraud from third parties.

Opportunity Strengthening Trust and Competitiveness Through Ethical Governance

A strong commitment to business ethics, regulatory compliance, and company governance presents significant opportunities for Solutions30. Ethical behavior not only reinforces customer and employee loyalty but also enhances the company’s reputation, attracting ESG-focused investors and fostering a positive public perception of integrity and responsibility. By proactively ensuring regulatory compliance, Solutions30 minimizes exposure to penalties, gains access to new markets by meeting international standards, and builds stakeholder confidence through transparent adherence to legal requirements. Moreover, a robust governance framework enables better strategic decision-making, fosters trust through transparency, and ensures adaptability to evolving market and regulatory conditions. Strong governance mechanisms also help mitigate financial misconduct, enhancing operational resilience. Companies with well-structured governance attract valuable partnerships and collaborations, positioning themselves as reliable and forward-thinking industry leaders.

Opportunity Unlocking Growth Through Stakeholder Dialogue and Partnerships

Engaging in meaningful dialogue and fostering strong partnerships with stakeholders present valuable opportunities for Solutions30. Open and consistent communication allows the company to gain insights into stakeholder needs, expectations, and concerns, helping to proactively identify and address potential issues before they escalate. By co-creating solutions with stakeholders inputs, Solutions30 strengthens relationships, demonstrates a commitment to inclusivity and transparency, and builds trust that supports long-term success. Strategic partnerships further enhance growth by enabling the pooling of expertise, funding, and infrastructure for mutual benefit. Collaborations with trusted partners provide access to new markets and customer bases while reinforcing the company’s credibility through association with reputable stakeholders. Additionally, well- managed partnerships create resilient relationships that drive sustainable value, ensuring adaptability and long-term competitiveness in an evolving business landscape.

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ESRS G1 – Business Conduct
* Business ethics and regulatory compliance
* Company Governance
* Due diligence and evaluation of suppliers and subcontractors

IRO Identification

Material impact, risk or Opportunity	Description
Opportunity	The Strategic Advantage of Responsible Procurement
	Responsible procurement is not just about mitigating risks; it is a powerful driver of business growth and resilience. By ensuring that our sourcing practices align with ethical, environmental, and social standards, we can unlock a range of opportunities that contribute to long-term success. One of the key advantages of responsible procurement is the ability to build a strong and positive reputation. By demonstrating our commitment to sustainability and ethics, we gain the trust of consumers, investors, and stakeholders, leading to stronger brand loyalty and market positioning. Additionally, adopting responsible sourcing practices can result in significant long-term cost savings. Energy efficiency, waste reduction, and sustainable resource management help us minimize expenses while improving operational efficiency. Furthermore, prioritizing ethical supply chains allows us to attract customers who value sustainability and responsible business practices. With growing consumer awareness and demand for transparency, embracing responsible procurement helps us stand out in competitive markets. By shifting our focus from short-term cost reduction to long-term value creation, we transform supply chain management into a strategic advantage. Investing in ethical and sustainable sourcing is not just a compliance requirement, it is an opportunity to drive innovation, resilience, and business success.

3

3.4.1.3. Actions to mitigate impacts or risks and maximize opportunities

According to S30 Group Risk management policy, a thorough analysis has been performed to identify the Impacts, Risks, and Opportunities (IRO) relevant to its operations. Based on this analysis, the company has strategically planned, defined, and implemented a comprehensive set of actions aimed at minimizing negative impacts and risks while maximizing potential opportunities. These actions are designed to enhance business ethics and regulatory compliance, strengthen company governance, and improve due diligence and evaluation of suppliers and subcontractors. To ensure continuous improvement, Solutions30 actively monitors the outcomes of these initiatives and regularly evaluates their effectiveness. This approach allows for necessary adjustments and optimizations, ensuring that the actions remain aligned with the company’s strategic objectives and evolving challenges. The table below provides a summary of the actions and projects that have been implemented or are planned, in alignment with our governance strategy and policies.

Topic	Main action description
Due diligence of suppliers and subcontractors	As mentioned, during the GRC project, we have developed a TPDD policy. This policy evaluates and monitors the integrity of third-party partners to mitigate risks related to corruption, money laundering, and reputational harm. This policy is implemented across the entire Group. As part of the TPDD policy, all business partners undergo a rigorous screening and risk assessment process before onboarding. This process is managed by a dedicated TPDD team at the Group level. All the documents that the subcontractor has to provide us with (ID, Insurance, social & fiscal debts, etc.) are stored and updated in our dedicated database, mySupplace. To ensure localized oversight, a compliance officer is appointed in each country to manage third- party partner compliance within their jurisdiction, complementing the centralized TPDD team. In 2026 our suppliers will follow the same onboarding process than the one implemented for subcontractors.
	Mitigation :
	• The implementation of the policies and procedures continues to be monitored and evaluated under the supervision of the Group Risk and Compliance Director through various compliance controls in the subsidiaries of the Solutions30 Group. The directives relating to disciplinary measures and the catalog of sanctions are implemented throughout the Group.
	• GRC objectives have been included in the annual objectives of members of the Executive Board and key managers.
	• The local compliance teams make sure all the documents are updated on time.
	• The internal audit team performs regular checks related to the compliance of our subcontractors with the TPDD policy.

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Topic	Main action description
Business ethics, regulatory compliance and company governance	We have developed and implemented a comprehensive code of conduct for employees and leadership. In order to achieve the Group’s intended goals, it is of crucial importance that all employees, from board members and managers to each individual member, conduct themselves honestly, fairly and ethically in accordance with the principles outlined in the Code of Conduct. This is the only way to ensure that the entire Solutions30 Group acts with integrity and thereby fulfills its economic and social responsibilities. This Code of Conduct is binding for all of us and translates our core values into practical guidelines, advising you on making responsible decisions, even in difficult situations. Solutions30 has also developed a Business Partner Code of Conduct, as part of our Company’s values system to ensure that all our business partners, including suppliers and subcontractors, sales partners and clients, meet our minimal requirements of doing business. The defined requirements are considered the basis of a successful and trustful execution of business relations between Solutions30 and its partners. Solutions30 has communicated this Business Partner Code of Conduct to all its business partners. Solutions30 expects its business partners to immediately report actual or suspected violations of law, this Business Partner Code of Conduct, or contractual obligations. Various reporting channels are available for our business partners to report such violations. Reports can be delivered to the business partner’s commercial contact at Solutions30 or confidentially through the Whistleblowing System. Our whistleblowing policy ensures that employees and stakeholders can report unethical behavior or breaches safely, anonymously and confidentially. It allows us to foster a culture of accountability and transparency.
Mandatory Training in GRC, ESG, GDPR and Cybersecurity	Mandatory training in Governance, Risk and Compliance (GRC), ESG, GDPR (data protection compliance) and Cybersecurity is embedded in the Group’s onboarding process and forms part of its ongoing compliance framework. By the end of 2024, a substantial proportion of the workforce had already completed the Group’s internal training programmes:
	• GRC Training: 87% of the total workforce
	• GDPR Training: 62% of the total workforce
	• ESG Training: 80% of the total workforce
	In 2025, the Group further strengthened its training framework. The internal ESG, GDPR and Cybersecurity programmes were reviewed, updated and redeployed across all countries to ensure continued alignment with regulatory developments and best practices. Particular attention was also given to ensuring that employees hired in 2025, as well as active employees who had not yet completed the mandatory programmes, fulfilled the required training.
* ESG Training: During the year, 81% of the total active workforce completed the updated ESG training programme, representing a record participation rate in this topic.
* GRC Training: 91% of the total active workforce
* GDPR Training: 94% of the total active workforce
* Cybersecurity Training: 55% of the total active workforce

These initiatives demonstrate the Group’s continued commitment to strengthening its governance framework, fostering a culture of compliance, and enhancing risk awareness throughout the organization.

Our policy highlights all the steps to be followed, from acknowledgment to resolution as well as the timeline for investigations and feedback. It protects whistleblowers from retaliation. It has been properly communicated to our internal and external stakeholders and it is available on our internal and external websites. The entire whistleblowing system at Solutions30 meets the requirements of the European Whistleblowing Directive. The whistleblowing platform is managed by a dedicated team and is available on the Group’s website. The platform is functioning properly and the associated Whistleblowing Policy is being applied. In 2025, 14 cases were reported and treated accordingly.

Our Anti-Corruption Policy details the anti-corruption principles set out in our Code of Conduct and defines our anti-corruption standards. It outlines the different types of corrupt practices such as conflicts of interest, facilitation payments and gifts, hospitality and invitations. It contains specific behavioral requirements relevant to the prevention of corruption and serves to ensure that all applicable anti-corruption laws are complied with in the course of the Solutions30’s business activities. The principles set out in this policy apply to all our employees, at all levels of Solutions30 Group. Compliance and Legal departments stay updated on changes in laws and regulations affecting the business. Regular evaluations of board performance are performed by an external body. Third party due diligence policy and process (see above). In 2026, we will continue conducting awareness sessions for all managers across the Group.

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Internal Audits

The Group’s Internal Audit Charter was revised and updated. The Group’s internal audit charter sets out the key internal audit principles and defines a binding framework for the operational planning, scheduling, preparation and execution of audits, controls and reporting. In addition to the applicable procedures, the charter also describes the responsibilities and roles assigned within the departments and indicates how quality assurance is ensured in the audit areas.

In 2025, a total of 12 internal audits were conducted as part of the Group’s annual audit plan. These audits included the review of documented local policies, processes, and procedures; the verification of compliance with established internal controls; and the testing of selected transaction samples. The audit work also identified opportunities to further strengthen existing processes, with particular focus on key risk areas and the effectiveness of related mitigation measures. By the end of 2025, the implementation rate of the internal control framework had reached 93% , reflecting the Group’s continued commitment to enhancing its control environment. In addition to the planned audit activities, the Internal Audit function performed ad hoc reviews at the request of Country CEOs or Directors, providing independent assurance and targeted support where needed.

Dialogue & partnerships with stakeholders

The Group is committed to fostering transparent, constructive, and long-term relationships with its stakeholders through structured dialogue and responsible partnership management. To this end, clear and consistent communication channels and guidelines are established to ensure timely, accurate and relevant information sharing. These channels are tailored to different stakeholder groups, including employees, clients, suppliers, investors, regulators and local communities, to promote effective engagement and mutual understanding.

Key stakeholders are systematically identified and prioritized based on their level of influence, dependency, and interest in the Group’s activities. This stakeholder mapping process enables the Group to focus its engagement efforts where they are most impactful and to proactively address material topics and emerging risks. Formal agreements and contracts clearly define roles, responsibilities, performance expectations and compliance requirements, ensuring alignment with the Group’s ethical standards and sustainability commitments. Regular meetings, progress updates and performance reviews are scheduled to maintain open dialogue, monitor partnership outcomes and address potential concerns in a timely manner. Feedback mechanisms are also encouraged to support continuous improvement. Where disagreements or disputes arise, structured resolution procedures are in place to ensure fair, transparent and efficient handling, minimizing operational and reputational risks while preserving long-term relationships. Through these measures, the Group reinforces its commitment to responsible governance, trust-based partnerships and sustainable value creation.

Responsible procurement

Responsible procurement is a key pillar of the Group’s sustainable business strategy, ensuring that the sourcing of goods and services is conducted in alignment with high ethical, environmental and social standards. The Group is committed to promoting responsible practices throughout its supply chain and mitigating risks related to compliance, continuity and reputation. To support this objective, the following measures have been implemented:

• Code of Conduct for Business Partners: The Group’s Code of Conduct for Business Partners clearly defines environmental, social and governance (ESG) expectations. It establishes standards relating to business ethics, human rights, labour practices, environmental protection, data protection and regulatory compliance. Suppliers are expected to adhere to these principles as a condition of collaboration.
• Supplier Diversification: To reduce operational and supply chain risks, the Group maintains a diversified supplier base and avoids excessive dependence on any single provider. This approach enhances business continuity, strengthens resilience and supports competitive and responsible sourcing practices.
• Commitment to Responsible Purchasing Standards: In France, the Group has signed the “Relations Fournisseurs & Achats Responsables” charter, marking a first step towards formal recognition and standardization of responsible procurement practices. This initiative paves the way for obtaining ISO 20400 certification, which the Group aims to achieve in 2026 for its French operations. Following certification in France, the Group intends to progressively extend equivalent responsible procurement standards to the other countries in which it operates, adapting procedures to local legal frameworks and market realities.

Through these actions, the Group reinforces its commitment to sustainable supply chain management, ethical partnerships and long-term value creation.

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3.4.1.4. Objectives, Targets and Key Performance Indicators (KPIs)

Our Targets for 2026

At Solutions30, we are committed to strengthening our corporate governance and ensuring rigorous due diligence of our subcontractors to uphold the highest standards of integrity, compliance, and accountability. Setting clear objectives, measurable targets, and key performance indicators (KPIs) allows us to monitor progress, drive continuous improvement, and ensure alignment with our governance strategy and ethical business practices. Our main objective focus on governance are:

3 The Solutions30 Group defines a set of ESG objectives, targets, and KPIs annually, as mentioned in subchapter 3.1.5. Below is a summary of the objectives, targets, and KPIs for 2026 related to "Business Conduct/ Company Governance”:

Strategy Pillar / Commitment	Objectives for 2026 - Group Level	Target/ Threshold for 2026	KPI
Make Solutions30 a reliable partner by ensuring that our partners are thoroughly verified.	Ensure that we have at least 97% of active subcontractors registered in mySupplace platform.	$\ge$ 97%	Total number of active subcontractors registed in mySupplace (%) (Total number of active subcontractors registed in mySupplace/ Total number of active subcontractors.)
Conduct business transparently and ethically Strengthen risk mitigation & Internal control.	The implementation rate of the Risk Management framework must be at least 90% by the end of 2026.	$\ge$ 90%	Risk Management Implementation Rate (%) (Implementation Rate = Number of implemented mitigation measures $\div$ Total number of planned mitigation measures $\times$ 100)

Additional Information :

• mySupplace : mySupplace is an internal platform of the Solutions30 Group, created and developed by us to manage suppliers and subcontractors. It centralizes and automates processes such as registration, qualification, compliance, and monitoring, ensuring that they meet the company’s governance, compliance, and due diligence requirements. Its goal is to enhance transparency, efficiency, and control over the supply chain, reducing risks and ensuring compliance with internal and regulatory standards.
• Active Subcontractor: We classify as an “Active Subcontractor” any subcontractor currently working with one or more companies within the Group, as well as those who have invoiced the Group within the last three months, based on the month under analysis.

For 2026, Solutions30 has decided to introduce a new governance related objective.In summary, the Risk Management Implementation Rate (%) measures the extent to which the Group has implemented the mitigation actions and internal controls defined in its annual risk management plan. This KPI reflects how effectively Solutions30 is addressing the key risks identified across its operations and strengthening its overall internal control environment. For a multinational Organisation such as Solutions30, the indicator plays a crucial role in ensuring consistent governance practices across all countries. It supports audit readiness, enhances transparency, and enables management to monitor progress, identify delays, and allocate resources where they are most needed. In addition, it contributes to ESRS/CSRD governance disclosures by providing an objective and measurable demonstration that risks are not only identified but also actively managed. Overall, this KPI reinforces the Group’s commitment to strong governance, operational resilience, and continuous improvement.

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■ Other important performance indicators defined and monitored

In addition to KPIs with associated targets, the Group monitors a set of KPIs related to the “Business Conduct and Company Governance” topic, which, although not having quantified targets, are regularly tracked, with actions taken if any trends deviate from the Group’s guidelines and expectations. Every month, the ESG team collects a wide range of relevant data to analyze the company’s performance in this area and reports internally on progress.

Strategy Pillar / Commitment	Topic	KPI	Monitoring frequency
Conduct business transparently and ethically	Business ethics	• Employee attendance rate in ethics training (%)	Quarterly
		Our expectation: achieve 100% participation in ethics training for all active employees.
		• Number of reported ethical violations via whistleblowing platform	Quarterly
		• Whistleblower Report Resolution Rate (%) (Number of whistleblower reports resolved within the defined deadline / total whistleblower reports)
		Our expectation: Investigate and resolve 95% of whistleblower reports within defined deadline.
		• Policies review rate (%)	Annually
		This frequency may be shortened in the event of legal or regulatory changes, or if any significant exceptional situations occur.
Regulatory Compliance	• Number of compliance violations reported	Our expectation: zero breaches.	Monthly
	• Risk Management Implementation Rate (%)	Our expectation: ≥ 90%	Monthly
Ensure independent and qualified governance	Governance	• Percentage of Independent members in the Supervisory Board	Annually
		• Gender diversity (Supervisory Board)
		Our expectation: Maintain 100% independent members and maintain a minimum of 40% gender diversity in supervisory board composition.

3 3.4.1.5. Governance Data

■ Employee Business Ethics and Compliance Training Coverage

In 2025, the Group continued to deliver internal training on Business Ethics, Regulatory Compliance, and Corporate Governance. As part of this commitment, the ESG and GDPR training programmes were reviewed, updated, and enhanced, while the GRC training remained in place. All three modules are mandatory for Group employees and form an integral part of the onboarding process for new hires. Below is an overview of the training programmes delivered in 2025 and their respective participation rates:

• GRC Training: this programme covers governance, risk, and compliance policies, as well as key Group guidelines, including the Codes of Conduct, Anti- Corruption Policy, Risk Management Policy, TPDD, and Whistleblowing procedures. In 2025, 36% of our active workforce completed the GRC training. Most participants attended for the first time as part of their onboarding, while others completed it as a refresher to reinforce their understanding of these topics. As of 31 December 2025, 91% of all active employees across the Group had completed the GRC training at least once in the past three years.
• GDPR Training: this training ensures that employees understand and comply with data protection requirements, prevent data breaches, and safeguard personal information. In 2025, nearly 60% of our active workforce completed the updated GDPR training launched during the year. As of 31 December 2025, 94% of all Group employees had completed the GDPR training at least once in the past three years.
• ESG Training: this programme aims to raise awareness and strengthen employee engagement on environmental, social, and governance topics. During 2025, 81% of our active workforce completed the new ESG training launched that year.

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Employee Attendance Rate (below, we present the charts of the employee attendance rate for each training action) 3

■ Third-Party Due Diligence (TPDD)

As stated previously, Solutions30 has implemented a TPDD Policy to ensure compliance, integrity, and ethical business practices in line with regulations such as the Sapin II Law and the UK Bribery Act. This policy mitigates financial and reputational risks by assessing the integrity of business partners before formal agreements. The due diligence process includes risk classification, compliance checks, and in-depth reviews if needed, with mitigation plans required for identified risks. Contracts are only established after successful due diligence, and continuous monitoring, audits, and documentation ensure ongoing compliance. During the TPDD analysis process, the Findings (internally referred to as “Red Flags”) are all forwarded for detailed analysis and decision-making by the Group Head of Risk and Compliance.

In 2025, the Group’s Compliance team conducted a total of 1,282 TPDD assessments on subcontractors and other business partners, averaging over 106 checks per month. This total relates to new subcontractors who began their business relationship with Solutions30 in 2025 as well as the annual periodic re-evaluations we conduct to ensure that the time between TPDD assessments does not exceed one year. The majority of the TPDD assessments were carried out on small and medium-sized enterprises (SMEs) and self- employed individuals, which together represented 95% of the assessments conducted. The focus on SMEs and self- employed individuals is justified based on our risk assessment methodology and what we consider to be the most significant risks in this process. Of all the “red flags” identified, 52% were related to Politically Exposed Persons (PEPs), 36% to Negative News, and only 12% were linked to Sanctions. All negative findings (“red flags”) were forwarded for analysis to the Group Head of Risk & Compliance. Of the total red flags detected in the TPDD process, less than 1% was confirmed as relevant, meaning they could pose a significant risk to Solutions30. Proportional actions were taken based on each specific situation. In most cases, the action taken was not to establish any business relationship or partnership with the subcontractor or business partner in question.

Most Relevant TPDD Data

Additional information :
Big companies/ Les grandes entreprises:	enterprises which employ more than 250 persons or which have an annual turnover exceeding EUR 50 million (according to the Commission Recommendation 2003/361/EC - Official Journal of the European Union)
SME or PME:	Small and Mid-sized Enterprises)
Self-employed / Sole proprietor.

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■ Whistleblower Process

Over the past years, Solutions30 has continued to strengthen its commitment to transparency, ethics, and responsible business conduct. As part of this commitment, the Group maintains an accessible and comprehensive whistleblowing framework for employees and external stakeholders. Our Whistleblowing Policy is publicly available on our corporate website (www.solutions30.com), and it is complemented by a dedicated digital reporting platform. This platform enables any stakeholder, internal or external, to confidentially report concerns or potential misconduct, including fraud, corruption, financial irregularities, ethical breaches, workplace harassment, safety hazards, data protection violations, environmental incidents, or any form of legal non-compliance. All reports are handled with strict confidentiality, and whistleblowers are fully protected against retaliation in accordance with our policy. On the right, we present the number of cases reported through our whistleblowing platform in the last 3 years. All reported cases were carefully reviewed and thoroughly investigated by the Group Head of Risk and Compliance. In 2025, a total of 14 cases were reported. All of them were considered substantiated cases following the assessment conducted by the Group Head of Risk, Compliance and ESG. In the context of whistleblowing, substantiated cases refer to those in which the facts or allegations presented by the whistleblower were confirmed to be accurate after investigation. In such situations, the information provided is validated, and appropriate corrective or remedial actions are implemented to address the issue and prevent recurrence. Next table provides a three year overview of the number of cases reported through our whistleblowing platform. While the increase in reported cases from 2023 to 2025 is not a positive indicator per se, we believe that part of this trend reflects the growing maturity of our whistleblowing system, greater awareness of the platform, and increased confidence among employees and other stakeholders that all reports are handled with independence, full confidentiality, and without any form of retaliation towards the whistleblower.

Whistleblowing Platform

	2023	2024	2025
Reported Cases	6	10	14
Substantiated cases	4	7	14
Cases transferred to the police authorities	0	0	0

3 NOTES:

• Reported Cases: The total number of whistleblower reports received.
• Substantiated Cases: The reports where the allegations were confirmed to be true, and appropriate action was taken.• Cases transferred to the police authorities: The cases where, after investigation, it was decided to involve law enforcement due to the severity of the issue.

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3.5 Our Commitments

3.5.1. United Nations Global Compact

In 2025, Solutions30 reaffirmed its commitment to the principles of the United Nations Global Compact, demonstrating a steadfast dedication to integrating its ten principles into the company’s operations and strategies. Through this pledge, Solutions30 continues to actively support the advancement of the Sustainable Development Goals (SDGs), furthering its contribution to a more sustainable and equitable future. The United Nations Global Compact, launched in 2000 by then-Secretary-General Kofi Annan, is a global initiative calling on businesses to align their practices with ten universally recognized principles derived from key United Nations texts. These principles address critical areas such as human rights, labor standards, environmental stewardship, and anti-corruption. The initiative’s overarching aim is to enhance the positive impact of businesses worldwide by promoting responsible practices and fostering transparency through regular reporting.

Human Rights
* Principle 1: Support and respect the protection of internationally proclaimed human rights
* Principle 2 : Ensure that the company is not complicit in human rights abuses

International Labor Standards
* Principle 3 : Uphold the freedom of association and the effective recognition of the right to collective bargaining
* Principle 4: Contribute to the elimination of all forms of forced and compulsory labor
* Principle 5 : Support the effective abolition of child labor
* Principle 6: Eliminate discrimination in respect of employment and occupation

Environment
* Principle 7: Adopt a precautionary approach to environmental challenges
* Principle 8 : Undertake initiatives to promote greater environmental responsibility
* Principle 9: Encourage the development and diffusion of environmentally friendly technologies

Anti-Corruption
* Principle 10: Work against corruption in all its forms, including extortion and bribery

Solutions30 is proud to be a signatory of the United Nations Global Compact. By renewing this commitment, the company reinforces its resolve to uphold all ten principles within its sphere of influence. Solutions30 remains dedicated to driving positive change through responsible business practices, fostering sustainability, and contributing meaningfully to the realization of the Sustainable Development Goals.

3.5.1.1. Contributing to the United Nations Sustainable Development Goals (SDG)

In 2015, the United Nations established the Sustainable Development Goals (SDGs) as a universal call to action, aiming for their achievement by 2030. Comprising 17 overarching goals, these are further broken down into sub- goals and measured through specific indicators. As highlighted previously, companies that are signatories to the United Nations Global Compact are expected to contribute to the realization of the SDGs. Solutions30 embraces this responsibility by actively advancing several SDGs, with a particular focus on those most aligned with its business sector and offerings. Given its expertise and the nature of its products and services, Solutions30 is particularly well positioned to contribute to several United Nations Sustainable Development Goals (SDGs). The Group’s activities directly support the deployment of digital infrastructure, the promotion of safe and decent working conditions, the development of technical skills, and the transition to a low carbon economy.

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Below, we outline the company’s main contributions for each relevant SDG:

SDG	How we contribute
SDG 3: Good Health and Well-being	Solutions30 contributes by fostering a safe and healthy working environment for its employees and subcontractors. The Group continuously invests in health and safety training, risk prevention, and operational procedures that minimise accidents in the field. Through strict compliance with safety regulations, the provision of appropriate personal protective equipment, and the implementation of monitoring tools, Solutions30 helps reduce occupational risks and protect the well-being of its workforce. The Group’s commitment to health and safety is further reinforced through recognised certifications such as ISO 45001 and VCA, which provide a structured framework for managing occupational risks and continuously improving H&S performance. Regular internal and external audits ensure full compliance with these standards, strengthen operational discipline, and help identify improvement opportunities across all business units. Additionally, the rapid maintenance of digital infrastructures ensures the availability of essential communication services, which can be critical in emergency situations.
SDG 4: Quality Education	The Group plays an active role in developing the technical skills needed for Europe’s digital and energy transition. Solutions30 provides thousands of hours of technical and safety training each year, including upskilling in fibre‑optic installation, smart meter technologies, digital troubleshooting, and emerging IoT solutions. These training programmes help create long‑term employability, support continuous learning, and contribute to building a qualified workforce capable of supporting modern digital infrastructure. In addition, the Group invests in specialised training related to renewable energy activities, including the installation of photovoltaic solar panels and electric vehicle chargers (EVC). These programmes equip technicians with the competencies required to support the rapid expansion of Europe’s renewable energy ecosystem and the broader decarbonisation of the economy. By offering pathways for new technicians to enter the job market and by strengthening the skills of existing employees, the company fosters inclusive access to education and professional development.
SDG 8: Decent Work and Economic Growth	Solutions30 supports economic growth by creating stable employment opportunities across Europe and ensuring fair labour practices. The Group promotes decent working conditions, invests in professional development, and ensures compliance with labour regulations and ethical standards. Its activities also support local economies: by maintaining and upgrading digital networks, Solutions30 helps businesses operate efficiently, enabling productivity gains and fostering economic resilience. Furthermore, by monitoring and improving key social indicators such as accident rates, training hours, and employee engagement, the company actively works toward safer, more inclusive, and more sustainable work environments
SDG 9: Industry, Innovation and Infrastructure	As a provider of essential digital and technological services, Solutions30 plays a central role in developing and maintaining resilient infrastructure. The Group supports the rollout of high speed connectivity, fibre optic networks, IoT solutions, smart meters, and other technologies vital for Europe’s digital transformation. Its maintenance services help ensure network reliability, reduce downtime, and improve the long term performance of critical infrastructure. Through continuous improvement of operational processes and the adoption of innovative tools and digital workflows, Solutions30 also drives industrial innovation and enhances the efficiency and sustainability of field operations.
SDG 12: Responsible Consumption and Production	Although Solutions30’s core business is not centred on repair, recycling, or reuse, the company still makes meaningful contributions to SDG 12. Through digitalisation, the Group reduces paper consumption and improves operational efficiency, while technologies such as smart meters and IoT systems help clients manage energy and resources more responsibly. Solutions30 also supports the transition to cleaner energy systems by installing photovoltaic solar panels and electric vehicle chargers (EVC), encouraging more sustainable consumption patterns across households and businesses. In addition, the company works to minimise waste in its operations, promote proper waste sorting, and ensure compliance with environmental requirements for equipment handling and end‑of‑life management. Together, these efforts allow Solutions30 to play a constructive role in advancing responsible consumption and production.
SDG 13: Climate Action	Solutions30 contributes to climate action both by reducing the environmental footprint of its own operations and by enabling the deployment of low‑carbon technologies for its clients. The Group implements concrete measures to lower its Scope 1 and 2 GHG emissions, including the electrification of its vehicle fleet, the optimisation of routing and logistics, and the adoption of energy‑efficient facilities. At the same time, many of the technologies installed or maintained by Solutions30,such as smart meters, electric vehicle chargers (EVC), photovoltaic solar panel farms, and advanced connectivity solutions, support more efficient resource use, drive energy savings, and contribute to reducing greenhouse gas emissions across society. Together, these initiatives strengthen the Group’s overall contribution to climate mitigation and reinforce its role as an enabler of Europe’s broader decarbonisation efforts.

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Solutions30 main contributions to United Nations Sustainable Development Goals (SDG)

To provide a clear and transparent view of Solutions30’s contributions to the realization of the SDGs, the following table summarizes some relevant indicators and several examples that illustrate how our activities contribute to each of the relevant UN Sustainable Development Goals. These indicators are also aligned with the Group’s internal targets, further demonstrating the company’s commitment to sustainability and accountability. Solutions30 strives for excellence in the health and safety of its employees and has obtained and improved ISO 45001 / VCA certifications (Occupational Health and Safety Management System).72% Employees covered by ISO 45001 or by VCA
The Injury Severity Rate decrease by 11% compared to 2024
3 To support growth and integrate new skills, the Group launched a training program that hires young people without qualifications or those undergoing career changes, promoting professional integration.
163,965 hours of training
28 hours of training per employee on average
Strong growth enables Solutions30 to significantly contribute to job creation, with the men and women of the Group driving its success through their daily work.
39% of the new hires in 2025 were under the age of 30
2.3% of people with disabilities in our own workforce as of 31/12/2025
By making technological innovations more accessible at home and work, Solutions30 contributes to a more inclusive and sustainable economy.
67% of Group revenue generated by Connectivity-related activities
+80,000 call-outs per day (in average)
The Group’s daily operations significantly reduce the disposal of used equipment, aligning the company with a circular economy approach.
197,375 computers repaired (Circular Economy - PC Repair project)
49,558 printers repaired (Circular Economy - Printer Repair project)
Environmental issues are integral to all of the Group’s actions, whether at the due diligence level or in operational activities.
24% absolute reduction in Scope 1 and 2 GHG emissions compared to 2023 (base year)
Over 168 MW of solar capacity installed in 2025
More than 370,000 solar panels deployed

NOTE: The figures presented above exclude the United Kingdom and the ‘Connectivity’ business activity in Spain, in order to ensure consistency and comparability with the financial perimeter of this Annual Report.

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3.5.2. SBTi commitment

Science Based Targets initiative (SBTi) is a global partnership between organizations such as the CDP (Carbon Disclosure Project), the United Nations Global Compact, the World Resources Institute (WRI), and the World Wide Fund for Nature (WWF). The initiative helps companies to set science-based targets to reduce greenhouse gas emissions (GHG), in line with the latest climate science and the goals of the Paris Agreement.

SBTi Commitment Timeline

On 9 January 2024 the Group Management Board took the first major step in Solutions30’s climate journey by formally committing the company to the Science Based Targets initiative (SBTi). This decision demonstrated our determination to adopt short term emission reduction targets grounded in climate science and aligned with the SBTi framework. It marked the starting point of a structured and science aligned decarbonisation pathway for the Group.

On 24 October 2025, Solutions30 officially submitted its near term SBTi targets. These targets were designed in line with the Paris Agreement and the 1.5°C trajectory, which aims to limit global warming to manageable and scientifically validated levels. This submission represented a significant milestone, confirming the Group’s intention to align its reduction strategy with internationally recognised climate expectations.

On 22 January 2026, the SBTi formally approved Solutions30’s near term science based targets. This validation confirms that our decarbonisation pathway is not only ambitious, but also credible, measurable, and firmly grounded in climate science. It represents strong external recognition of the work carried out across the Group and reinforces our long term environmental commitments.

Our Approved Near Term Targets

Solutions30 is committed to achieving the following science based targets by 2030, using 2023 as the base year:
* Reduce absolute Scope 1 and 2 GHG emissions by 42%
* Reduce absolute Scope 3 GHG emissions by 25%

These ambitions focus on the areas where the Group can have the strongest influence, both in the way we operate and in the way we collaborate with suppliers, partners, and clients.

Strategic Significance

The approval of these targets strengthens the credibility of our environmental commitments and confirms that Solutions30 is taking meaningful, measurable and science aligned actions to reduce its carbon footprint. This milestone also reinforces our contribution to global climate mitigation efforts and marks a major step forward in the implementation of our wider sustainability strategy. Our approach remains pragmatic and risk aware, ensuring that every initiative is assessed for its potential impacts, risks, and opportunities. This thorough evaluation enables the Group to implement actions that are both effective and sustainable.

Next Steps / Actions Plans

The action plans and activities already defined and implemented under the Solutions30 Group’s carbon reduction framework are detailed in sub chapter “3.2.2 Environment.” These initiatives form the operational backbone of our SBTi aligned decarbonisation roadmap. You can see more about our commitment to the SBTi here: https://sciencebasedtargets.org/target-dashboard.

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3.5.3. RFAR Label (Relations Fournisseurs et Achats Responsables)

The RFAR Label (Relations Fournisseurs et Achats Responsables) is an official French certification that recognises organisations demonstrating responsible purchasing practices and fair, balanced, and sustainable relationships with their suppliers. It is awarded by the French Government through the Médiateur des entreprises and the Conseil National des Achats (CNA), and is considered one of the leading national benchmarks for responsible procurement.

The RFAR Label is fully aligned with the international ISO 20400 standard on sustainable procurement. Its assessment framework is built directly upon the ISO 20400 guidelines, providing a practical and operational mechanism to demonstrate effective implementation of this global reference. The objective of the RFAR Label is to help Organisations structure, improve, and demonstrate their commitment to responsible purchasing, ensuring that environmental, social, ethical, and economic considerations are fully integrated into procurement processes and supplier relationships. It promotes transparency, fair contractual practices, and long‑term value creation across the supply chain.

Key Advantages

Earning the RFAR Label provides several strategic benefits:
* Stronger credibility and competitive advantage: As an official state‑endorsed label aligned with ISO 20400, it enhances trust among clients, suppliers, and public bodies.
* Improved internal performance: It helps professionalise procurement functions, strengthen risk management, and integrate purchasing into the organisation’s broader ESG strategy.
* More robust and sustainable supplier relationships: The label fosters dialogue, reduces supply‑chain risks, and supports long‑term, balanced partnerships.
* Continuous improvement: Certification requires external evaluation and periodic review, supporting 3 ongoing progress in responsible purchasing practices.

Since formalising our commitment in 2023 through the signing of the “Relations Fournisseurs & Achats Responsables” Charter, the Group has been implementing a structured and progressive approach to responsible purchasing, embedded within a continuous improvement framework and aimed at achieving RFAR certification in France by 2026. This trajectory is grounded in the systematic reinforcement of our internal processes, ensuring the consistent integration of social, inclusive, and broader sustainability criteria into needs assessment, supplier selection, and contract management. Our ambition is to build a supply chain firmly aligned with principles of ethics, transparency, and sustainability, in line with recognised industry standards.

As part of our RFAR certification journey in France, Solutions30 is engaging all internal and external stakeholders to consolidate a procurement model focused on responsible value creation, effective risk management, and supporting our partners in advancing their own CSR practices. This approach represents a key strategic lever for the Group, enabling us to combine economic performance with social inclusion and environmental responsibility, while positioning the company on a credible and ambitious pathway toward certification in 2026.

Looking ahead, our strategy is to progressively and systematically replicate the same principles, guidelines, and methodologies across all countries where the Group operates, ensuring a harmonised and resilient approach to sustainable procurement throughout our international footprint.

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3.6 Our Certifications and ESG Performance

3.6.1. Management System

Quality, Health and Safety, and Environment (QHSE) Management System

Solutions30 has developed a QHSE system for quality, health and safety and environment management, fully aligned with ISO standards (ISO 9001, ISO 14001, and ISO 45001). Our QHSE system follows the PDCA (Plan- Do-Check-Act) principle, ensuring a continuous improvement process. We regularly review and enhance our management system based on various inputs, including feedback from clients, employee suggestions, audit results, performance indicators, legal and regulatory changes, and risk assessments. This approach guarantees that we consistently improve the effectiveness and efficiency of our quality, environmental, and safety management systems.# QHSE certifications within the Group:

Standard	Country
ISO 9001:2015 Quality Management System	• France • Belgium • Italy • Luxembourg • Netherlands • Poland • Spain
ISO 45001:2018 Health and Safety Management System	• France • Italy • Luxembourg • Poland • Spain
VCA ** VCA (2 stars) Health and Safety Management System	• Belgium • Netherlands
ISO 14001:2015 Environmental Management System	• France • Italy • Luxembourg • Spain

Overview of the Group’s QHSE Certification Coverage by Employee Average and Annual Revenue (*2)

In the next table, we present the percentage of employees covered by each standard, as well as the percentage of the Group’s global activities covered (for this purpose, we used revenue as the metric):

Standard	Coverage by employees	Coverage by Revenue
ISO 9001	67%	72%
ISO 14001	50%	45%
ISO 45001 or VCA	72%	83%

■ Information Security Management System

At Solutions30, we give a high importance on Information Security and the protection of personal data. Our Information Security Management System (ISMS) is designed to safeguard the confidentiality, integrity, and availability of critical information. We are committed to maintaining robust cybersecurity practices to defend against evolving threats and ensure the secure handling of sensitive data. Our dedication to cybersecurity and data protection 3 underpins our commitment to providing secure and trusted services to our customers. In line with the General Data Protection Regulation (GDPR), we take all necessary steps to protect personal data, ensuring compliance with the highest standards of privacy and information security.

In 2024, Solutions30 obtained the BBB National Programs Vendor Privacy Program certification. In October 2025, the Group decided not to renew this certification for 2026. This decision followed a detailed assessment of its relevance, added value, and alignment with our strategic priorities in the area of data protection. The main reason for this decision is that the BBB program is primarily recognised in the United States and has limited applicability within the European regulatory environment.

Information security certifications within the Group:

Standard	Country
ISO 27001:2013 Information Security Management System	• France • Italy, • Luxembourg (*1)
BBB National Programs Vendor Privacy Program certification	• France • Belgium • Italy • Germany • Luxembourg • Netherlands • Spain

Overview of the Group’s ISMS Certification Coverage by Employee Average and Annual Revenue (*2)

In the next table, we present the percentage of employees covered by each standard, as well as the percentage of the Group’s global activities covered (for this purpose, we used revenue as the metric):

Standard	Coverage by employees	Coverage by Revenue
ISO 27001	45%	42%
BBB_VPP	81%	93%

NOTES:
(1) Countries not yet certified but whose practices comply with this standard: Germany, Belgium, Spain, Netherlands, Poland.
(2) For the calculation of the certification coverage, the annual average of the Group’s total employees was considered. Data from Portugal was excluded from the calculation, as both Solutions30 Portugal and Byon Portugal have no operational activity and focus primarily on providing services, mostly within the Group. Employees in Portugal represent approximately 6.5% of the Group’s total workforce, while their contribution to annual revenue is negligible.

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3.6.2. ESG Performance

At Solutions30, we are deeply committed to sustainability and transparency in our Environmental, Social, and Governance (ESG) practices. Every year, we voluntarily subject ourselves to rigorous performance evaluations conducted by internationally recognized rating agencies and other organizations, including CDP (Carbon Disclosure Project) and EcoVadis. These assessments help us benchmark our progress, identify areas for improvement, and reaffirm our dedication to driving positive change. Below, we proudly share a summary of the scores we have achieved in 2025, reflecting our ongoing efforts to align with the highest ESG standards.

ESG Performance Scores Summary

In 2025, the S30 Group continued to strengthen its ESG performance across all major external ratings, reflecting the progress made in environmental management, responsible governance, data protection, and social practices. The results obtained from leading international assessment bodies confirm both the robustness of our sustainability strategy and our commitment to continuous improvement. Below, we proudly share a summary of the scores we 3 have achieved in 2025, reflecting our ongoing efforts to align with the highest ESG standards.

NOTE : All ESG scores are also available for consultation on the Solutions30 Group website under the ESG section, where they are continuously updated. In the next page we present a summary of each score achieved, together with a comparative analysis and year-over- year performance evolution relative to the previous reporting period.

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Entity Performance Details

EcoVadis – Gold Medal (80/100 | 97th percentile)

In 2025, the S30 Group achieved its highest-ever EcoVadis score, rising from 64 to 80 points (out of 100). This significant improvement places the Group in the 97th percentile worldwide, ranking us among the top 3% of companies globally assessed by EcoVadis . As a result, we were awarded the Gold Medal, a recognition of our strong performance across all four pillars: Environment, Ethics, Labor & Human Rights, and Sustainable Procurement. This milestone demonstrates tangible progress in our ESG management systems, policies, and reporting practices.

CyberVadis – Silver Medal (870/1000)

In 2025, CyberVadis, a globally recognized assessor of cybersecurity and data protection practices, awarded the S30 Group a Silver Medal. The Group achieved an outstanding score of 870 out of 1000, classified as “Mature”. This rating reflects the robustness of our cybersecurity governance framework, the strength of our data privacy controls, the effectiveness of our risk management processes, and our alignment with internationally recognized security standards. It further demonstrates the consistency and reliability of the measures implemented to safeguard our clients, partners, and internal operations against evolving cyber threats.

EthiFinance ESG Ratings – Platinum Medal (87/100)

In 2025, the S30 Group achieved a score of 87 out of 100, improving on our previous assessment, which grants us access to the Platinum Medal , the highest distinction attributed by EthiFinance. This result highlights the maturity, consistency, and effectiveness of our ESG strategy, particularly in the areas of social responsibility, business ethics, corporate governance, and environmental management. The Platinum level recognition reflects the Group’s leadership position in sustainability performance and further strengthens the credibility and transparency of our long-term sustainability commitments.

CDP – Stable Rating (C)

In the 2025 CDP assessment, the S30 Group maintained the same rating as the previous year (C). This reflects the stability of our climate related governance and disclosures, while also highlighting the need for continued investment in climate risk management, emissions reduction pathways, and transparency. Maintaining the rating confirms consistent alignment with CDP’s increasingly demanding expectations.

ISS ESG – Improved Overall Rating (C+)

In 2025, the S30 Group’s overall rating from ISS ESG increased to C+ , reflecting measurable progress across the Governance, Environmental, and Social dimensions. Category scores improved consistently, demonstrating the effectiveness of the enhancements implemented in our reporting practices, internal controls, governance structures, and stakeholder-related policies. This upward trajectory underscores our continued alignment with internationally recognized ESG standards and expectations. With regard to the quality and robustness of the data reported, our assessment remained at very high levels: Governance = 1; Environment = 2; and Social = 1, reaffirming the reliability, transparency, and consistency of our disclosed information.

3 Solutions30 | Annual Report 2025 160

3.7 ESRS Content Index - Disclosure Requirements

The tables below present all the disclosure requirements of the European Sustainability Reporting Standards (ESRS). The listed requirements pertain to “ESRS 2 – General disclosures” and the five topical standards covering the material topics for Solutions30, as identified in the double materiality assessment (see section 3.1.4). This Sustainability Statement does not include disclosures related to the ESRS E2, E3, E4, and S3 topical standards, as these topics were not considered material for Solutions30. Although the “ESRS E5 – Resource Use and Circular Economy” topics were also assessed as non-material for Solutions30, we have voluntarily chosen to disclose relevant information regarding waste management and existing circular economy programs. This information can be found in section “3.2.3. Other Environmental Topics,” pages 107 to 109.

3 In cases where no information is currently available for a specific disclosure requirement, no reference is provided. These tables help readers quickly identify where each specific disclosure requirement is addressed in the Sustainability Statement, ensuring easier access to relevant information.# DISCLOSURE REQUIREMENTS ESRS 2 - GENERAL DISCLOSURES

Page(s)	Additional Information
BP-1 General basis for preparation of the sustainability statement	58-59
BP-2 Disclosures in relation to specific circumstances	58-59
GOV-1 The role of the administrative, management and supervisory bodies	61-62 Management Board detailed information on Chapter 4
GOV-2 Information provided to and sustainability matters addressed by the undertaking’s administrative, management and supervisory bodies	61-62; 165-191
GOV-3 Integration of sustainability-related performance in incentive schemes	73; 193-196 S30 Group’s commitment to ESG and GRC objectives in executive compensation
GOV-4 Statement on due diligence	163
GOV-5 Risk management and internal controls over sustainability reporting strategy	39-53; 63-66
SBM-1 Strategy, business model and value chain	11-14; 19-29; 68
SBM-2 Interests and views of stakeholders	66-68
SBM-3 Material impacts, risks and opportunities and their interaction with strategy and business model	65-66; 85; 107; 112-113; 130; 135-137; 143-145
IRO-1 Description of the process to identify and assess material impacts, risks and opportunities	63-66
IRO-2 Disclosure requirements in ESRS covered by the undertaking’s sustainability statement	160-162

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DISCLOSURE REQUIREMENTS ESRS E1 - CLIMATE CHANGE

Page(s)	Additional Information
ESRS 2, GOV-3 Integration of sustainability-related performance in incentive schemes	73; 193-196 S30 Group’s commitment to ESG and GRC objectives in executive compensation
E1-1 Transition plan for climate change mitigation	86-89
ESRS 2, SBM-3 Material impacts, risks and opportunities and their interaction with strategy and business model	85; 65-66
ESRS 2, IRO-1 Description of the processes to identify and assess material impacts, risks and opportunities	63-66
E1-2 Policies related to climate change mitigation and adaptation	84
E1-3 Actions and resources in relation to climate change policies	86-94
E1-4 Targets related to climate change mitigation and adaptation	95
E1-5 Energy consumption and mix	105-107
E1-6 Gross Scopes 1, 2, 3 and total GHG emissions	97-102
E1-7 GHG removals and GHG mitigation projects financed through carbon credits	-
E1-8 Internal carbon pricing	-
E1-9 Anticipated financial effects from material physical and transition risks and potential climate-related opportunities	3

ESRS S1 · OWN WORKFORCE

Page(s)	Additional Information
ESRS 2, SBM-2 Interests and views of stakeholders	66-68
ESRS 2, SBM-3 Material impacts, risks and opportunities and their interaction with strategy and business model	63-66; 112-113
S1-1 Policies related to own workforce	111-112
S1-2 Processes for engaging with own workers and workers’ representatives about impacts	124; 126-128
S1-3 Processes to remediate negative impacts and channels for own workers to raise concerns	126-128; 151
S1-4 Taking action on material impacts on own workforce, and approaches to mitigating material risks and pursuing material opportunities related to own workforce, and effectiveness of those actions	114-116
S1-5 Targets related to managing material negative impacts, advancing positive impacts, and managing material risks and opportunities	116-117
S1-6 Characteristics of Solutions30 Group employees	118-122
S1-7 Characteristics of non-employee workers in the Solutions30 Group own workforcee	-
S1-8 Collective bargaining coverage and social dialogue	111-112; 128
S1-9 Diversity metrics	118-122
S1-10 Adequate wages	126-128
S1-11 Social protection	111-112
S1-12 Persons with disabilities	115; 126 Equal Opportunities, Diversity and Inclusion
S1-13 Training and skills development metrics	122-124; 149-150
S1-14 Health and safety metrics	125-126
S1-15 Work-life balance metrics	127
S1-16 Compensation metrics (pay gap and total compensation)	126; 128
S1-17 Incidents, complaints and severe human rights impacts	128

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2 DISCLOSURE REQUIREMENTS ESRS S2 · WORKERS IN THE VALUE CHAIN

Page(s)	Additional Information
ESRS 2, SBM-2 Interests and views of stakeholders	66-68
ESRS 2, SBM-3 Material impacts, risks and opportunities and their interaction with strategy and business model	63-66; 130
S2-1 Policies related to value chain workers	129-130
S2-2 Processes for engaging with value chain workers about impacts	-
S2-3 Processes to remediate negative impacts and channels for value chain workers to raise concerns	-
S2-4 Taking action on material impacts on value chain workers, and approaches to managing material risks and pursuing material opportunities related to value chain workers, and effectiveness of those actions	131-132
S2-5 Targets related to managing material negative impacts, advancing positive impacts, and managing material risks and opportunities	133

3 ESRS S4 · CONSUMERS AND END-USERS

Page(s)	Additional Information
ESRS 2, SBM-2 Interests and views of stakeholders	66-68
ESRS 2, SBM-3 Material impacts, risks and opportunities and their interaction with strategy and business model	63-66; 135-137
S4-1 Policies related to consumers and end-users	134-135
S4-2 Processes for engaging with consumers and end-users about impacts	137-139
S4-3 Processes to remediate negative impacts and channels for consumers and end-users to raise concerns	137-139
S4-4 Taking action on material impacts on consumers and end- users, and approaches to managing material risks and pursuing material opportunities related to consumers and end- users, and effectiveness of those actions	137-139
S4-5 Targets related to managing material negative impacts, advancing positive impacts, and managing material risks and opportunities	139

ESRS G1 · BUSINESS CONDUCT

Page(s)	Additional Information
ESRS 2, GOV-1 The role of the administrative, management and supervisory bodies	61-62 Management Board detailed information on Chapter 4
ESRS 2, IRO-1 Description of the processes to identify and assess material impacts, risks and opportunities	63-66; 143-145
G1-1 Business conduct policies and corporate culture	141-142
G1-2 Management of relationships with suppliers and subcontractors	145-147; 150
G1-3 Prevention and detection of corruption and bribery	141; 150-151 Anti corruption policy and training.
G1-4 Incidents of corruption or bribery	150-151
G1-5 Political influence and lobbying activites	-
G1-6 Payment practices	-

BP Basis content
GOV Governance content
SBM Strategy content
IRO Impact, risk and opportunity management

Solutions30 | Annual Report 2025 163

■ Statement on Due Diligence

The table below indicates where, in our sustainability statement, information about our due diligence process can be found, including its methodology, how it is implemented, as well as its main steps and objectives. The mapping below establishes the correspondence between the core elements of the due diligence process, regarding impacts on people and the environment, and the respective disclosures in the organization’s sustainability statement.

CORE ELEMENTS OF DUE DILIGENCE	PARAGRAPHS IN THE SUSTAINABILITY STATEMENT	PAGE(S)
a) Embedding due diligence in governance,strategy and business model	3.4.1.1. Business Conduct: our approach and policies	141-142
b) Engaging with affected stakeholders in all key steps of the due diligence	3.1.4.5. Stakeholders’ identification, mapping and communication channels	66-68
	3.3.1.1. Human and labor rights: own workforce	111-112
	3.3.2.1. Human and labor rights: workers in the value chain	129-130
	3.3.3.1. Consumers and end-users	134-135
	3.4.1.1. Business conduct	141-142
c) Identifying and assessing adverse impacts	3.1.4.4. Key impacts and risks related to sustainable development	65-66
	3.3.1.2. and 3.3.2.2. Material impacts, risks and opportunities (IRO) related to social	112-113
		130
		135-137
	3.4.1.2. Material impacts, risks and opportunities (IRO) related to governance	143-145
d) Taking actions to address those adverse impacts	3.3.1.3. and 3.3.2.3. Actions to mitigate impacts or risks and maximize opportunities related to social	114-116
		131-132
		137-139
	3.4.1.3. Actions to mitigate impacts or risks and maximize opportunities related to governance	145-147
e) Tracking the effectiveness of these efforts and communicating	3.3.1.4. and 3.3.2.4. Objectives, Targets and Key Performance Indicators (KPIs) related to social	116-117
	3.4.1.4. Objectives, Targets and Key Performance Indicators (KPIs) related to governance	133; 139
		148-149

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4 CORPORATE GOVERNANCE

4.1 Governance Framework

4.1.1 Introduction

Solutions30 SE is a European company headquartered in Luxembourg, whose shares are listed on the Paris exchange (Euronext Paris, Compartment C). It is registered in the Luxembourg Register of Commerce and Companies under registration number B.179097 (the Company). The Company has a dual organizational structure, with both a supervisory board and a management board. Corporate governance focuses on profitable growth and on operations, with short and efficient decision-making cycles and close contact with those working in the field. This model has allowed the Company to stay agile and to quickly seize market opportunities when they arise. The goal is to attain a critical size across all geographic regions where the Company operates, while also maintaining rigorous operational standards. The Supervisory Board is able to do quality work because its members are independent, committed, represent a variety of competences and are supported by three committees: the Nominations and Remunerations Committee, the Audit, Risk and Compliance Committee, and a Strategy and ESG Committee. The Management Board is assisted in its work by two committees: a Group Executive Committee and a Country Executive Committee. The Company was created in accordance with Council Regulation (EC) No.

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4.2 Supervisory Board 169

4.3 Management Board 186

4.4 Remuneration 1922157/2001 of October 8, 2001, on the statute for a European company (SE) (the SE Regulation). It is therefore governed by the provisions of the Luxembourg law on commercial companies of August 10, 1915, as amended (the Law of 1915), applicable to public limited companies, and by the provisions specifically applicable to European companies in the SE Regulation. The Company’s corporate governance rules are also based on (i) the Company’s articles of association (the Articles of Association), (ii) the Management Board’s corporate governance charter (the Management Board Charter), (iii) the Supervisory Board’s corporate governance charter (the Supervisory Board Charter), (iv) this report on corporate governance (the Corporate Governance Report) and the Company’s internal policies. As of the publication of this Corporate Governance Report, the Company is in compliance with the corporate governance recommendations set out in the corporate governance code for listed companies drawn up by AFEP and MEDEF in December 2008, updated in December 2022 (AFEP-MEDEF Code). Section 4.1.2 of this Corporate Governance Report specifies the provisions of the AFEP-MEDEF Code that have been set aside, along with the reasons why. The AFEP-MEDEF Code can be consulted on the AFEP website (www.afep.com) and MEDEF websites (www.medef.com). The Articles of Association are available on the Company’s website: https://www.solutions30.com/articles-of-association/ The Supervisory Board Charter is available on the Company’s website: https://solutions30.com/SupervisoryBoard-Governance-Charter The Management Board Charter is available on the Company’s website: https://www.solutions30.com/GMB-Governance-Charter The Company’s Codes of Conduct, Anti-corruption Policy, Whistleblower Platform and Policy are all available on the Company’s website: https://www.solutions30.com/policies

4.1.2. Corporate Governance Code

The Company uses the AFEP-MEDEF Code as a reference. This Corporate Governance Report specifies the provisions of the AFEP-MEDEF Code that have been set aside, along with the reasons why. The table below lists the recommendations of the AFEP-MEDEF Code that Solutions30 SE does not follow, as well as descriptions of its actual practices and justifications for this choice. Given the dual governance model employed by Solutions30, with both a management board and a supervisory board, it is the role of the supervisory board to note any recommendations in the AFEP-MEDEF Code, as soon as they are endorsed by that body.

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Recommendations of the AFEP-MEDEF Code that are not applied or not implemented	Explanations for the non-application of certain recommendations
Article 9
9.1 Within a group, the directors representing employees elected or appointed in accordance with the legal requirements sit on the Board of the company that declares that it refers to the provisions of this code in its report on corporate governance. When several group companies apply these provisions, the Boards shall determine the corporation(s) eligible for this recommendation.	Solutions30 SE is a Luxembourg registered company and is therefore subject to Law 1915 (as defined above) as well as other applicable laws in Luxembourg. As such, Solutions30 SE does not have employee representation on the Supervisory Board.
9.2 Directors representing employee shareholders and directors representing employees are entitled to vote at meetings of the Board of Directors, which is a collegial body that has the obligation of acting under all circumstances in the corporate interest. Like all other directors, they may be selected by the Board to participate in committees.
9.3 Without prejudice to the legal provisions specific to them, directors representing employee shareholders and directors representing employees have the same rights, are subject to the same obligations, in particular in relation to confidentiality, and take on the same responsibilities as the other members of the Board.
Article 14.3
14.3 Directors representing employees or representing employee shareholders should be provided with suitable training enabling them to perform their duties

Article 24 REQUIREMENT FOR COMPANY OFFICERS TO HOLD SHARES

The Board of Directors defines a minimum number of registered shares that the company officers must retain through to the end of their term of office. This decision is reviewed at least on each extension of their term of office. The Board may base its decisions on various references, for example:
– the annual compensation
– a defined number of shares
– a percentage of the capital gain net of taxes and social security contributions and of expenses related to the transaction, in the case of exercised options or performance shares
– a combination of these references.

Until this objective regarding the holding of shares has been achieved, the company officers will devote a proportion of exercised options or awarded performance shares to this end as determined by the Board. This information must be presented in the corporation’s report on corporate governance.

As of the publication of this report, the chairman of the Management Board held 17,323,240 shares in the Company, representing 16.2% of share capital. As of the publication of this report, the other members of the Management Board together held 31,160 shares, representing 0.03% of the Company’s share capital. Together, the members of the Management Board hold 17,354,400 shares, representing 16.2% of the Company’s share capital. The members of the Management Board are thus invested in the Company’s long-term development. To this end, the Group’s remuneration policy encourages all members of the Management Board to acquire and hold a number of shares (i) equal to their respective fixed annual remuneration in the fourth year following their appointment and (ii) for the chairman of the Management Board - equal to twice his fixed remuneration in the fourth year. This provision aims to ensure that members of the Management Board become shareholders of the Company, that they feel vested, and that their interests are aligned with those of the shareholders.

Article 25.4

The Board must also make provision for no non-competition benefit to be paid once the officer claims his or her pension rights. In any event, no benefit can be paid over the age of 65.

Solutions30 SE is a Luxembourg registered company and is therefore subject to Law 1915 (as defined above) as well as other applicable laws in Luxembourg. The agreements of members of the Management Board are also subject to Luxembourg law and such law does not provide for any similar limitations with reference to the non-competition rule which, under Luxembourg law, is purely contractual. Therefore, the mentioned agreements do not foresee such limitations related to age.

4 Solutions30 | Annual Report 2025 167

4.1.3. Assessing the work and operations of the Supervisory Board and Management Board

In line with the recommendations of the AFEP-MEDEF Code and its own corporate governance charter, in Q4 2025 the Supervisory Board performed an annual self-evaluation of the functioning of the Supervisory Board and its respective committees and resolved that the Management Board should be subject to self-evaluation as well. This evaluation process was performed under the overall supervision of the independent member of the Supervisory Board, Thomas Kremer, Chair of the Supervisory Board, member of the Audit, Risk & Compliance Committee, the Nominations and Remunerations Committee and the Strategy & ESG Committee.

The purpose of this self-evaluation was to assess the ability of the Supervisory Board members and the Management Board members to ensure the effective oversight of the Company’s governance, strategy, and performance while meeting regulatory, shareholder and marketplace expectations. This evaluation process involved (i) completion of a detailed questionnaire by each of the members of the respective boards in order to gather their opinions, comments and suggestions concerning their composition, organization and functioning and the overall governance of the Group and (ii) debating the results of the self- evaluation by all members of the Management Board and the Supervisory Board respectively.

The self-evaluation was carried out with three main objectives:
– Assess the way the Management Board, the Supervisory Board and its committees operate
– Check that the important issues are suitably prepared and discussed
– Measure the contribution of each member to the respective Boards’ work

The self-evaluation focused on the following areas:
* Performance of their mission
* Risk and opportunity monitoring
* Operation of the Supervisory Board and the Management Board
* composition of the Supervisory Board and the Management Board: diversity of profiles and skills, remuneration
* Conduct of their respective meetings: agenda, organization, access to information, attendance rate, content and quality of discussions, etc.
* Relationship and interactions between the Supervisory Board and the Management Board
* Performance of the committees of the Supervisory Board

In a nutshell, this evaluation process covered the overall governance of Solutions30 and its implementation as well as the quality and quantity of information provided to the Supervisory Board members. The conclusions of this evaluation exercise were presented and discussed at the Supervisory Board meeting held on 5 November 2025 and the Management Board meeting held on 25 March 2026.

Conclusions of the evaluation are the following:
* Both governing bodies continue to operate effectively and in accordance with applicable legal, regulatory, and internal governance requirements.
* Continued strong commitment to responsible oversight of the Supervisory Board, and transparent decision‑making.• Confirmed shared ambition of both bodies to continue strengthening the quality, frequency, and depth of their interactions aimed at ensuring resilient performance and sustained value creation.
• Changes in the composition and expertise of the Supervisory Board, since the previous assessment carried out in 2024, are considered very positive given that additional competences have been added such as strategy, operations, and overall governance.
• The number of members and the current composition of the Supervisory Board and the Management Board in terms of profile and experience are considered appropriate.
• Members of the Supervisory Board have the appropriate range of skills, knowledge and experience necessary to enable it to effectively perform its duties.
• Both governing bodies are functioning well as a team, with members effectively collaborating and leveraging each other’s expertise during their respective meetings. Members of the Management Board and the Supervisory Board commend the accelerated major improvements of its governance and key processes including, but not limited to, the internal controls, risk management, compliance, ESG framework as reflected in chapter 2.4.1 and the sustainability report of this annual report.

The following recommendations were made with regards to the overall governance:
i. Continue developing a more structured annual cycle for in‑depth strategic discussions and deep dives into risk management, enabling earlier and more comprehensive engagement on long‑term priorities, investments, and emerging risks.
ii. Continue the joint focus on monitoring critical risk areas such as regulatory compliance, digital transformation, cybersecurity, and sustainability.
iii. Continue, alongside formal meetings, periodic informal exchanges between the Supervisory Board members and between Management Board members and Supervisory Board members; thematic workshops to further strengthen mutual understanding and collaboration, particularly on the business segments and market dynamics.
iv. Continue to focus on the forward‑looking succession planning for key leadership roles and to deepen its oversight in this area, with the Management Board providing more structured updates on talent development, leadership pipeline strength, and critical‑skills mapping. This enhanced focus will support continuity, resilience, and sustainable organizational development.

In line with the above-mentioned conclusions and recommendations and in continuous efforts to strengthen Solutions30 | Annual Report 2025 168 its organizational structure, numerous actions were taken by Solutions30 in the course of 2025 and beginning of 2026, including but not limited to:
i. Continuance of comprehensive series of audits and assessments performed across the Group by the internal audit team focusing on the review of the compliance levels of internal controls developed during the GRC project.
ii. Re-appointment of Pascale Mourvillier, as member of the Supervisory Board of the Company, for a mandate of four years and further appointment as Chair of the Audit, Risk and Compliance Committee.
iii. Appointment of Olivier Domergue as member of the Supervisory Board and as Chair of the Strategy and ESG Committee, an independent member of the Supervisory Board bringing extensive expertise in business strategy, operational transformation, the construction and energy industry.
iv. Appointment of Maria Zesch as member of the Supervisory Board bringing deep expertise across the service industry, spanning telecommunications, technology, media, and strategy.
v. Subsequent appointment of Olivier Domergue as member of the Management Board and Chief Performance Officer, effective as of 1 January 2026, with his primary mission focusing on steering the improvement of the Group’s operating and financial performance, in close cooperation with the entire leadership team.
vi. With the current composition of the Supervisory Board having 5 members, all of whom are independent, including 3 women, representing 60% of members of the Supervisory Board, the Group continues to comply with the European “Women on Boards" Directive which stipulates that the proportion of non-executive director seats held by women must be (i) at least 40% or (ii) at least 33% of non-executive and executive director seats held by women.
vii. Continuous strong commitment of the Group to the ESG matters as explained in detail in the sustainability report in chapter 3.
viii. Continuous integration into the annual objectives of Solutions30’s Management Board and local countries’ managers of (i) GRC targets focusing, among other, on compliance topics, internal controls and risk management as well as (ii) ESG targets focusing, among other, on the CO2 reduction and feminization and gender parity of the management bodies within the Group as explained in detail in chapter 4.4.4.2.
ix. In line with Solutions30’s commitment to strong corporate governance and long‑term business continuity, the Supervisory Board had a strong focus on the short-term, mid-term, and long-term succession planning for the Management Board members. A succession plan for the chairman of the Management Board has been developed and approved. This structured plan ensures clarity and readiness for future leadership transition, reinforces organizational stability, and strengthens our governance framework.

Further to the above process, following the recommendations of the AFEP-MEDEF Code, the members of the Supervisory Board and the Management Board will continue to be evaluated at least once per year, based on the three objectives set forth in the AFEP- MEDEF Code and mentioned above. In addition, a formal assessment of the respective boards’ work will be carried out using one of the following two methods and under the supervision of the Nominations and Remunerations Committee:
* As a self-evaluation
* As an evaluation conducted by a specialist firm (external consultant)

Moreover, it has been decided that continuous assessments shall be performed by management as routine operations, built into business processes, and performed on a real-time basis, reacting to changing conditions. Solutions30 | Annual Report 2025 169

4.2 Supervisory Board

4.2.1 Supervisory Board Charter

The Supervisory Board has adopted an internal charter, which went into effect on 23 April 2019 and was revised and amended on 3 April 2024. This Supervisory Board Charter establishes rules and operating principles for the Supervisory Board that go beyond applicable legal and regulatory provisions and the Company’s Articles of Association. The information below is a summary of this Supervisory Board Charter and is not, therefore, intended to be exhaustive in nature.

4.2. Members of the Supervisory Board

The Supervisory Board is a collegial body composed of at least three members appointed and dismissed by the Company’s general meeting of shareholders (the General Meeting), on the non-binding proposal of the Supervisory Board. Supervisory Board members are appointed on the basis of objective criteria, such as their expertise, skills, experience, diversity, and independence. The members of the Supervisory Board serve for a term of four years, as described in the Articles of Association, and may be reappointed. In this case, the manner in which the candidate has performed their duties is evaluated and taken into account. The composition of the Supervisory Board will be such that the combined experience, skills, abilities, diversity, and independence of its members will enable it to best discharge its duties and responsibilities with respect to the Company and all stakeholders, in accordance with applicable laws and regulations (including the rules of the Euronext market on which the Company’s shares are listed and traded). The Supervisory Board currently has five members, including a chair and a vice-chair.

4.2.3 Supervisory Board Committees

The Supervisory Board is assisted by three specialized committees, each acting in a specific area of expertise. The permanent committees of the Supervisory Board are the Nominations and Remunerations Committee; the Audit, Risk and Compliance Committee; and the Strategy and ESG Committee (the Committees). Their operating procedures are set out in the appendices to the Supervisory Board Charter. The purpose of these Committees is to assist the Supervisory Board in supervising the Company’s Management Board by advising and preparing decisions related to matters within their respective scope. The main objectives of the Supervisory Board Committees include the following:
* Strategy and ESG Committee: Monitor, discuss and evaluate the Company’s strategy and any changes within it, including with regards to ESG criteria, and anticipating risks, including the annual review of ESG objectives and strategic plans, investment plan analysis, Group Management Board oversight, and input on decision-making related to strategy and ESG.
* Audit, Risk and Compliance Committee: Assist the Supervisory Board with verification of the financial reporting, internal control procedures, compliance processes and risk management. Best practices entail that the Audit, Risk and Compliance Committee meet with the auditors, both with and without Solutions30 management present. Depending on the topics discussed at the Audit, Risk and Compliance Committee meetings, the key Group functions are invited on regular basis to attend these meetings such as for instance Group Secretary General who oversees a Group finance, Group Head of Consolidation, Group Head of Risk, Compliance and ESG and Group Head of Legal, (Chief Information Security Officer). The participation of these individuals is crucial when discussing ESG, governance and internal controls related topics and answering specific questions related to the Group’s financial performance.The Group Secretary General, plays a key role in meetings of the Audit, Risk and Compliance Committee meetings because of his direct responsibility for the Group’s financial matters.
* Nominations and Remunerations Committee: to assist the Supervisory Board and make proposals with regards to governance body membership, succession plans for Company directors, and remuneration for Supervisory Board and Management Board members.

Solutions30 | Annual Report 2025 170

4.2.4 About the members of the Supervisory Board

The Supervisory Board is currently made up of five members:

Appointed as member of the Supervisory Board by resolution of the ordinary general meeting on June 16, 2022. His term of office will expire at the general meeting called to approve the financial statements for the year ending on December 31, 2025.

Thomas Kremer graduated from the University of Bonn in 1994 with a doctorate in law. At the beginning of his career, Thomas Kremer joined the legal department of ThyssenKrupp AG before becoming its general counsel in 2003 and being put in charge of implementing their compliance program. He was named Chief Compliance Officer in 2007. In 2009, he took over the management of the company’s legal & compliance expertise center. In 2012, he joined Deutsche Telekom AG as a member of the executive board and was responsible for data privacy, legal affairs, compliance, internal auditing, and risk management. Between January 2014 and March 2015, he served as interim human resources director in parallel with his other duties. From May 2015 until his retirement in March 2020, he was also a member of the supervisory board of T-Systems International GmbH, and sat on the safety and human resources subcommittees. In addition to his operational duties, Thomas Kremer was a member of the German government’s commission on corporate governance (Deutscher Corporate Governance Kodex, or DCGK). He was also president of the association for network security called “Deutschland sicher im Netz”. Thomas Kremer is currently a lecturer at the University of Bonn in business law and corporate governance.

THOMAS KREMER
Chair of the Supervisory Board
Independent member
Member of the Audit, Risk and Compliance Committee
Member of the Strategy and ESG Committee
Member of the Nominations and Remunerations Committee

Attribute	Value
Age:	68 years old
Nationality:	German
1st appointed:	June 16, 2022
Term expires:	2026
Number of shares held:	-
Attendance rate:	100%

Other positions held outside the Company, within the Solutions30 Group

Current positions	Positions that were held during the last 5 years and have ended
• None	• None

Other positions held outside the Company, outside the Solutions30 Group

Current positions	Positions that were held during the last 5 years and have ended
• None	• Deutsche Telekom AG – Member of the Management Board
	• T-Systems International GMBH – Member of the Supervisory Board

4 Solutions30 | Annual Report 2025 171

Paola Bruno was appointed as a member of the Supervisory Board by resolution of the ordinary general meeting on June 16, 2023. Her term of office will expire at the general meeting called to approve the financial statements for the year ending on December 31, 2026.

Paola Bruno began her career in 1993 at UBS in London and Zurich as an associate in corporate finance, where she worked on projects in the telecommunications and finance sectors. In 1996, she joined Merrill Lynch in London where she served as a director, leading the Italian FIG group, before becoming CEO at ABM in Milan. She then joined the board of directors of Banca Italease in 2004, where she was responsible for business development, including mergers and acquisitions, investor relations, strategic planning, and compliance in times of crisis. In 2010, she became CFO and board member of PMS, a communication company listed on the AIM market in Milan, and also founded Geneva Equities Europe, a private investment fund. Since 2013, she has been the CEO and founder of Augmented Finance, a consulting company working with financial institutions, investment funds, and European and American technology companies. Paola Bruno holds a degree in political science and international economics from La Sapienza University in Rome. She also holds a master’s degree in finance from the Chartered Institute for Securities & Investment (CISI) in London and SDA Bocconi University in Italy, as well as several professional certifications in the insurance, finance, and real estate sectors.

PAOLA BRUNO
Vice-Chair of the Supervisory Board
Independent member
Chair of the Strategy and ESG Committee
Member of the Nominations and Remunerations Committee

Attribute	Value
Age:	59 years old
Nationality:	Italian
1st appointed:	June 16, 2023
Term expires:	2027
Number of shares held:	-
Attendance rate:	100%

Other positions held outside the Company, within the Solutions30 Group

Current positions	Positions that were held during the last 5 years and have ended
• None	• None

Other positions held outside the Company, outside the Solutions30 Group

Current positions	Positions that were held during the last 5 years and have ended
• BANCO DESIO – Board member	• SECNEWGATE GLOBAL STRATEGY SPA – Board member
• MESSAGGERIE ITALIANE SPA – Board member	• RETELIT – Board member
• CLESSIDRA PRIVATE EQUITY SGR – Board member	• COIMA RES SIIQ – Board member
	• BANCA CREVAL – Board member
	• ALERION CLEAN POWER – Board member
	• INWIT – Board member
	• DOBANK – Board member

4 Solutions30 | Annual Report 2025 172

PASCALE MOURVILLIER
Member of the Supervisory Board
Independent member
Chair of the Audit, Risk and Compliance Committee
Member of the Strategy and ESG Committee

Attribute	Value
Age:	66 years old
Nationality:	French, Swiss
1st appointed:	December 10, 2021
Term expires:	2029
Number of shares held:	-
Attendance rate:	100%

Pascale Mourvillier was appointed as a member of the Supervisory Board at the Supervisory Board meeting of December 10, 2021. Her appointment was ratified by the ordinary general meeting called to approve the financial statements for the year ending on December 31, 2021. Pascale’s mandate was renewed at the general meeting of June 17, 2025.

Pascale Mourvillier is a graduate of HEC (Écoles des hautes études commerciales), Paris. Pascale began her career in auditing at Arthur Andersen. She then specialized in IFRS at the Compagnie Nationale des Commissaires aux Comptes (CNCC) and worked as a technical advisor at Acteo. In 2005, she joined Suez as head of the IFRS expertise division and for 10 years she helped the group carry out numerous strategic transactions. Since 2014, she has been working as an independent financial reporting consultant for numerous mid-caps and large corporations. She was a member of the accounting commission at SFAF from 2005 to 2024.

Other positions held outside the Company, within the Solutions30 Group

Current positions	Positions that were held during the last 5 years and have ended
• None	• None

Other positions held outside the Company, outside the Solutions30 Group

Current positions	Positions that were held during the last 5 years and have ended
• Gamabilis – Member of the Advisory Board	• PAM Expertise – President

4 Solutions30 | Annual Report 2025 173

YVES KERVEILLANT
Member of the Supervisory Board
Independent member
Member of the Audit, Risk and Compliance Committee
Member of the Nominations and Remunerations Committee

Attribute	Value
Age:	73 years old
Nationality:	French
1st appointed:	May 27, 2019
Term expires:	2027
Number of shares held:	-
Attendance rate:	100%

Appointed as member of the Supervisory Board by resolution of the ordinary general meeting on May 27, 2019 and then on June 16, 2023. His term of office will expire at the general meeting called to approve the financial statements for the year ending on December 31, 2026.

Yves Kerveillant is a graduate of HEC (Écoles des hautes études commerciales), Paris, and holds degrees in law and accounting. Before joining the consulting firm Equideals and later becoming its president in 2009, Yves ran a group of expert accounting firms for over twenty years. At the same time, he served as statutory auditor for eighty companies, several of which are listed on the stock exchange. His areas of expertise include business development assistance, advice on acquisitions or sales of SMEs, and developing plans for the takeover and restructuring of companies in difficulty.

Other positions held outside the Company, within the Solutions30 Group

Current positions	Positions that were held during the last 5 years and have ended
• None	• None

Other positions held outside the Company, outside the Solutions30 Group

Current positions	Positions that were held during the last 5 years and have ended
• SAS YK Conseil – Chairman; SAS YK Conseil is the Chair of SAS Ker Invest which is itself Chair of SAS Equideals	• SCI l’Erable – President
• SCI Bison buté – General Manager	• SAS Immortelles de Calenzana – President
• SCI 30 rue de la Bourboule – General Manager	• SAS Immortelles Corses – President
• SCI Expertise Nouvelle France – General Manager	• SNC Ker West - General Manager
• SCI Edison Communication – President	• SCI Vemag – General Manager
• SNC Unu Testardu – President
• SNC Vecchioso - President

4 Solutions30 | Annual Report 2025 174

MARIA ZESCH
Member of the Supervisory Board
Independent member

Attribute	Value
Age:	52 years old
Nationality:	Austrian
1st appointed:	June 17, 2025, as a member of the Supervisory Board (effective October 1, 2025)
Term expires:	2029
Number of shares held:	-
Attendance rate:	100%

Appointed as member of the Supervisory Board by resolution of the general meeting on June 17, 2025. Her term of office will expire at the general meeting called to approve the financial statements for the year ending on December 31, 2028.

Maria ZESCH graduated from the Vienna University of Economics and Business Administration in Commercial Sciences. She began her professional journey in 1997 at the Austrian Broadcasting Corporation in business development.She later joined the international consulting firm A.T. Kearney. From 2003 to 2018, Maria held various senior leadership roles within Deutsche Telekom, including Vice-President Strategy and Executive Vice President Consumer Marketing at T-Mobile Austria, CMO and Member of the Board at T-Mobile Croatia and Chief Commercial Officer at T-Mobile Austria, contributing to strategic growth, digital innovation, and commercial excellence across multiple markets. In 2017, Maria was named “Business Woman of the Year” in Austria for her work in digital innovation and customer engagement. Between 2018 and 2021, Maria served as the Chief Commercial Officer of Magenta Telecom (former T-Mobile Austria) and from 2021 to 2024 Maria served as CEO of TAKKT AG. As of 2025, Maria is a member of the board of directors of Bosch Home Comfort.

Other positions held outside the Company, within the Solutions30 Group
Current positions
* None
Positions that were held during the last 5 years and have ended
* None

Other positions held outside the Company, outside the Solutions30 Group
Current positions
* Bosch Home Comfort, Member of the Board of Directors
* POST AG, Supervisory Board member
* Bosch Siemens Haushaltsgeräte/BSH, Supervisory Board member

Positions that were held during the last 5 years and have ended
* TAKKT AG, CEO
* Ottakringer AG, Supervisory Board member
* Oekostrom AG, Supervisory Board member
* T-Mobile Cz, Member of the Board of Directors

4 Solutions30 | Annual Report 2025 175

OLIVIER DOMERGUE

Former Member of the Supervisory Board
Independent member
Chair of the Strategy & ESG Committee
Age: 57 years old
Nationality: French
1st appointed: June 17, 2025 (as a member of the Supervisory Board)
Term ended: December 31, 2025
Number of shares held: -
Attendance rate: 100%

Appointed as member of the Supervisory Board by resolution of the general meeting on June 17, 2025 and chairman of the Strategy & ESG Committee of the Supervisory Board by resolution of the Supervisory Board on 23 July 2025. His mandate was terminated as of December 31, 2025, and Mr. Domergue joined the Management Board effective as of 1 January 2026.

Olivier DOMERGUE graduated from the French “École Nationale des Ponts & Chaussées” as a civil engineer. Olivier’s career spans roles at Bouygues and SPIE, where he progressed from project management at Bouygues to becoming a prominent figure in SPIE, focusing on operational transformation, safety, and team management. From 2013 to 2017 Olivier served as the Managing Director of SPIE Nucléaire and then between 2017 and 2022 as the Managing Director of SPIE France. During these 9 years as Managing Director and member of the Executive Committee at SPIE, Olivier first steered the SPIE Group’s nuclear subsidiary, then for five years as Managing Director of SPIE France, he implemented a deep transformation of all SPIE Group’s activities in France. In 2023, Olivier transitioned to a consultancy role at ODO – Solutions et Performance, continuing his focus on strategic business improvement. In 2025 Olivier served as the deputy managing director at FIVES Group, acting in charge of Human Resources and Performance at Group level, while supervising its nuclear activities.

Other positions held outside the Company, within the Solutions30 Group
Current positions
* None
Positions that were held during the last 5 years and have ended
* None

Other positions held outside the Company, outside the Solutions30 Group
Current positions
* ODO-Solutions & Performance EURL - Director

Positions that were held during the last 5 years and have ended
* SPIE France - Managing Director and President of its five subsidiaries
* FIVES Group, Deputy Managing Director

4 4 4 4 4 Solutions30 | Annual Report 2025 176

ALEXANDER SATOR

Former Member of the Supervisory Board (Former Chair)
Independent member
Chair of the Nominations and Remunerations Committee
Age: 54 years old
Nationality: German
1st appointed: May 15, 2015, as a member of the Supervisory Board
Term ended: December 31, 2025
Number of shares held: -
Attendance rate: 100%

Appointed as member of the Supervisory Board by resolution of the combined general meeting on May 15, 2015, and chairman of the Supervisory Board by resolution of the Supervisory Board on July 20, 2018. His terms of office, renewed at the ordinary general meetings on May 27, 2019 and then on June 16, 2023 and in Q4 2025 Mr. Sator rendered his resignation effective as of 31 December 2025.

Alexander Sator has a degree in physics and is the inventor of several innovative laser technologies. In 1996, he founded Sator Laser, a company that specialized in industrial laser systems, and became technical director of the group when it was acquired by Domino Printing Science PLC in 2001. In 2005, he became CEO of 4G Systems before selling the company to Deutsche Telekom in 2006. He later founded SapfiKapital Management, a family office that invested in the telecommunications sector. At the same time, he worked as a strategic advisor to Deutsche Telekom and was president of Cinterion Wireless Modules, a Siemens spin-off company. In 2018, Alexander Sator founded 1nce, a joint venture with Deutsche Telekom and the first major service provider for the Internet of Things. He is currently the company’s CEO.

Other positions held outside the Company, within the Solutions30 Group
Current positions
* None
Positions that were held during the last 5 years and have ended
* None

Other positions held outside the Company, outside the Solutions30 Group
Current positions
* 1nce GMBH – Chief Executive Officer
* 1nce SIA – Chief Executive Officer
* Norbit GMBH – Chief Executive Officer
* Sapfi Kapital Man. GMBH – Chief Executive Officer
* Voltavest GMBH – Managing Director
* DC42 GMBH – Managing Director
* Joma-Pacsa GMBH – Managing Director
* Sigma51 GMBH – Managing Director
* RHO1 GMBH – Managing Director
* SIA 1NCE Latvia Valdes priekšsēdētājs – Chairman of the Board of Directors
* 1NCE INC – Member of the Board of Directors (Vice President)
* InoAlfa GMBH – Chief Executive Officer

Positions that were held during the last 5 years and have ended
* DGT Future Fund – Member of the Supervisory Board
* SendR SE – Chairman of the Board of Directors
* Satkirit LTD – Member of the Board of Directors
* Reverse Retail GMBH – Member of the Board of Directors

4 Solutions30 | Annual Report 2025 177

CAROLINE TISSOT

Former Member of the Supervisory Board
Independent member
Member of the Strategy and ESG Committee
Age: 55 years old
Nationality: French
1st appointed: May 19, 2017
Term ended: 2025
Number of shares held: -
Attendance rate: 100%

Appointed as member of the Supervisory Board by resolution of the ordinary general meeting on May 19, 2017. His term of office, renewed at the ordinary general meeting on June 30, 2021 and expired at the general meeting held in 2025.

Caroline Tissot is a graduate of the Institut d’études politiques in Paris and holds a master’s degree from the University of Paris Dauphine. She began her career in 1995 as a consultant at Deloitte France, before joining General Electric’s European headquarters in Brussels in 2003, where she spent nearly ten years working in procurement. She gained particular expertise in this field, as well as extensive international experience. In 2012, she was named purchasing director for Bouygues Telecom. In September 2016, she joined AccorHotels to handle the group’s purchasing. In January 2023 she joined Accor‘s Management Board as Chief Procurement Officer.

Other positions held outside the Company, within the Solutions30 Group
Current positions
* None
Positions that were held during the last 5 years and have ended
* None

Other positions held outside the Company, outside the Solutions30 Group
Current positions
* None
Positions that were held during the last 5 years and have ended
* None

4 Solutions30 | Annual Report 2025 178

JEAN-PAUL COTTET

Former Member of the Supervisory Board
Independent member
Chair of the Strategy and ESG Committee
Age: 71 years old
Nationality: French
1st appointed: May 18, 2018
Term ended: 2025
Number of shares held: -
Attendance rate: 100%

Co-opted as member of the Supervisory Board at the Supervisory Board meeting on April 18, 2018, and confirmed by a resolution of the ordinary general meeting on May 18, 2018.His term of office, renewed at the ordinary general meeting on June 30, 2021 and expired at the general meeting held in 2025.

A graduate of the École Polytechnique, Mines ParisTech and Télécom ParisTech, Jean-Paul Cottet began his career in the nuclear sector, then worked for France Télécom/Orange as director of network operations in Marseilles. He has held various management positions, including head of the Paris division after serving as director of sales for France and oversaw the company going public. He was also director of networks for France. He then held various positions within the group’s executive committee, serving as secretary general, chief information officer, chief international officer, and director of innovation and content marketing. He is currently a consultant in new technology management.Other positions held outside the Company, within the Solutions30 Group
Current positions
* None
Positions that were held during the last 5 years and have ended
* None

Other positions held outside the Company, outside the Solutions30 Group
Current positions
* Pentekaitech – CEO
* Fondation de l’Ecole Polytechnique – Delegate General
* Fondation du Patrimoine (France) – Project Director
Positions that were held during the last 5 years and have ended
* Chairman and/or Director of several Orange companies (Audiovisual [OSC], Orange subsidiaries in Africa, Viacess- Orca)
* Orange – Advisor

4 Solutions30 | Annual Report 2025 179

Summary table: Supervisory Board Committees

Member of the Supervisory Board	Nationality	Gender	Year first appointed	End date of mandate	Seniority	Independent member	Audit, Risk and Compliance	Nominations and Remunerations	Strategy and ESG	Experience
Thomas Kremer	German	M	2022	2026	4 years	Yes	Member	Member	Member	Member of the Board of Directors - Deutsche Telekom AG, Member of the Supervisory Board of T-Systems International GmbH, Member of the German Government Commission on Corporate Governance
Paola Bruno	Italian	F	2023	2027	3 years	Yes	Member	Chair*	Associate in corporate finance at UBS London and Zurich, Member of the board of directors in Banco Dessio Business development responsible and former board member - Banca Italease CFO & board member at PMS
Alexander Sator	German	M	2015	2027	10 years	Yes	Chair*			Entrepreneur, CEO of 1nce (JV with Deutsche Telekom)
Pascale Mourvillier	French	F	2021	2029	5 years	Yes	Chair	Member	Auditor at Arthur Andersen, head of IFRS expertise center at Suez.
Yves Kerveillant	French	M	2019	2027	7 years	Yes	Member	Member	Chartered Accountant, President of Equideals
Caroline Tissot	French	F	2017	2025	8 years	Yes	Member*			Chief Group Procurement Officer, AccorHotels group, Bouygues Telecom
Jean Paul Cottet	French	M	2018	2025	7 years	Yes	Chair*	Member	Member of the Orange Executive Committee, Personal Advisor to the CEO of Orange
Olivier Domergue	French	M	2025	2025	6 months	Yes		Chair*	Managing Director of SPIE Nucléaire; Managing Director of SPIE France
Maria Zesch	Austrian	F	2025	2029	<6 months	Yes				Vice-President Strategy and Executive Vice President Consumer Marketing T-Mobile Austria, CMO and Member of the Board at T-Mobile Croatia and Chief Commercial Officer at T-Mobile Austria, member of the board of directors of Bosch Home Comfort.

$^4$ *For the time they were members of the Supervisory Board during the period under consideration.

Solutions30 | Annual Report 2025 180

Experience and expertise matrix for the members of the Supervisory Board

Experience	Expertise	Member of the Supervisory Board	Business Sectors	International	Customers	General Management	Audit & Finance	Organization & HR	ESG	Legal & Compliance	Marketing & Sales
Thomas Kremer	✔	✔	✔	✔	✔	✔	✔
Paola Bruno	✔	✔	✔	✔	✔	✔	✔
Alexander Sator	✔	✔	✔	✔	✔
Pascale Mourvillier	✔	✔	✔	✔	✔
Yves Kerveillant	✔	✔	✔	✔
Caroline Tissot	✔	✔	✔	✔	✔	✔
Jean Paul Cottet	✔	✔	✔	✔	✔	✔	✔
Olivier Domergue	✔	✔	✔	✔	✔	✔
Maria Zesch	✔	✔	✔	✔	✔

$^4$ Definitions : Business Sectors: experience with the business sectors the Group operates in, i.e. energy, telecoms, IT, retail, and security. International: experience with international groups or outside their country of origin. Customers: experience working for or with the Group’s major customers. General Management: experience with executive management in an international or high-growth setting, or in relation to starting and growing companies. Audit & Finance: expertise or experience in corporate finance, audit and oversight procedures, risk management and insurance, accounting, mergers and acquisitions, or the banking sector. Organization and HR: expertise in the human resources sector, in structuring high-growth companies, or in transforming high-growth companies. ESG: expertise or experience in the social, environmental, and corporate governance sectors. Legal & Compliance: experience or expertise in law and compliance. Marketing & Sales: expertise or experience in marketing and sales.

4.2.5 Changes in the composition of the Supervisory Board and its committees during the fiscal year

The composition of the Supervisory Board changed in 2025, and the Supervisory Board is now composed of 5 independent members including 3 women. The General Meeting on June 17, 2025 took several decisions related to the composition of the Supervisory Board namely:
* reappointed Pascale Mourvillier, as member of the Supervisory Board of the Company for a mandate of 4 years ending at the date of the annual general meeting called to approve the annual accounts for the financial year ending on December 31, 2028;
* acknowledged the expiration and non-renewal of the mandates of Caroline Tissot and Jean-Paul Cottet.
* appointed Olivier Domergue as member of the Supervisory Board for a mandate of 4 years ending at the date of the annual general meeting called to approve the annual accounts for the financial year ending on December 31, 2028, and
* appointed Maria Zesch as member of the Supervisory Board, effective as of October 1, 2025, for a mandate of 4 years ending at the date of the annual general meeting called to approve the annual accounts for the financial year ending on December 31, 2028.

Consequently, in 2025 the Supervisory Board, following the recommendations of the Nominations and Remunerations Committee, took the following decisions regarding its composition of the committees of the Supervisory Board:
* appointment of Paola Bruno as the Vice-Chair of the Supervisory Board.
* appointment of Olivier Domergue as Chair of the Strategy & ESG Committee;
* appointment of Pascale Mourvillier as Chair of the Audit, Risk and Compliance Committee;

Subsequently, at the end of 2025, the Supervisory Board, following the recommendations of the Nominations and Remunerations Committee, took the following decisions:
* acknowledgement of a resignation of Alexander Sator from his mandate within the Supervisory Board and chairmanship of the Nominations and Remunerations Committee effective as of December 31, 2025;
* acknowledgement of a resignation of Olivier Domergue from his mandate within the Supervisory Board and chairmanship of the Strategy and EG Committee effective as of December 31, 2025;
* appointment of Paola Bruno as the Chair of the Strategy & ESG Committee;
* approval of the appointment of Olivier Domergue as a member of the Management Board and the Chief Performance Officer, effective as of January 1, 2026, for a period of four years.

Accordingly, the Supervisory Board and its committees are now composed as follows:

Thomas Kremer, Chair of the Supervisory Board
Paola Bruno, Vice-Chair of the Supervisory Board

Audit, Risk and Compliance Committee:
Pascale Mourvillier, Chair
Yves Kerveillant, Member
Thomas Kremer, Member

Nominations and Remunerations Committee:
Thomas Kremer, Member
Yves Kerveillant, Member
Paola Bruno, Member

Strategy and ESG Committee:
Paola Bruno, Chair
Pascale Mourvillier, Member
Thomas Kremer, Member

The above decisions aim to demonstrate (i) the stability of the Company’s governance and maintaining strong governance practices, aligning with its strategic objectives, and (ii) the Company’s commitment to preserving the independence of its Supervisory Board members and increasing its diversity by promoting female members. The resignation of Alexander Sator came as he approached his eleventh year in office, the length of which could undermine his independence. The resignation of Olivier Domergue was linked to intra-Group restructuring and his appointment to the Management Board of the Company aimed at reinforcing its competencies and expanding the diversity of expertise.

Solutions30 | Annual Report 2025 181

4.2.6 Upcoming changes in the membership of the Supervisory Board

The Supervisory Board is engaged to cultivate a wide range of expertise among its members, with international representation, diverse backgrounds, gender diversity, and a predominant number of independent members. The Supervisory Board will continue to reinforce the skills present within the Supervisory Board, especially in terms of corporate responsibility, governance, risk management, compliance, and business segments of the Group with the focus on energy.

4.2.7 Independence of members of the Supervisory Board

Every year, based on recommendations from the Nominations and Remunerations Committee, the Supervisory Board reviews the independence of its members based on the independence criteria given in the AFEP-MEDEF Code and listed below. In particular, the Nominations and Remunerations Committee looks at whether the companies other than Solutions30 with which the Supervisory Board members are involved might have business relationships with the Company, and if so, whether these relationships might compromise the independence of the member in question.

The AFEP-MEDEF Code independence criteria used by the Company:

Criterion 1: Employee or executive officer within the previous 5 years
Not to be or not to have been within the previous 5 years:
* An employee or executive officer of the company
* An employee, executive officer, or director of a company consolidated by the company
* An employee, executive officer, or director of the 4 company’s parent company or a company consolidated within this parent company

Criterion 2: Cross-directorships
Not to be an executive officer of a company in which the company holds a directorship, directly or indirectly, or in which an employee appointed as such or an executive officer of the company (currently in office or having held such office within the last five years) holds a directorship.Criterion 3: Significant business relationships Not to be a customer, supplier, commercial banker, investment banker, or consultant:
* Who is significant to the company or its group
* For whom the company or its group represents a significant portion of his or her business activity

The evaluation of whether or not the relationship with the company or its group is significant must be debated by the board, and the quantitative and qualitative criteria that led to this evaluation (continuity, economic dependence, exclusivity, etc.) must be explicitly stated in the annual report.

Criterion 4: Family ties Not to be related by close family ties to an executive officer.

Criterion 5: Auditor Not to have been an auditor of the company within the previous 5 years.

Criterion 6: Term of office exceeding 12 years Not to have been a director of the company for more than twelve years. Directors are no longer considered independent after having served for more than twelve years.

Criterion 7: Status of non-executive officer A non-executive officer cannot be considered independent if he or she receives variable remuneration in cash or in the form of securities or any remuneration linked to the performance of the company or group. Solutions30 | Annual Report 2025 182

Criterion 8: Status of major shareholder Directors representing major shareholders of the company or its parent company may be considered independent, provided these shareholders do not take part in the control of the company. Nevertheless, beyond a 10% threshold in capital or voting rights, the board, upon a report from the nominations committee, should systematically review the qualification as independent in the light of the makeup of the company’s capital and the existence of a potential conflict of interest.

Assessment of the independence of members of the Supervisory Board

During its meeting on November 5, 2025, the Supervisory Board, having analyzed the assessment made by the Nominations and Remunerations Committee, confirmed that the seven members of the Supervisory Board (100%) are independent with regard to the criteria listed above. Moreover, at this meeting, the Supervisory Board acknowledged that there are no material direct or indirect business relationships between Solutions 30 and the members of its Supervisory Board and no significant business relationships between Solutions 30 and the companies with which these members may be involved in. In the context of this review, Supervisory Board acknowledged that Olivier Domergue has been appointed as member of the Management Board as of 1 January 2026 and as of that date will no longer be a member of the Supervisory Board. .

In process of establishing its recommendation to the Supervisory Board, the Nominations and Remunerations Committee, considers that all the mandates held by the members of the Supervisory Board in other companies having potentially business relationships with Solutions30, are not automatically considered as to compromise the independence and/or the performance of the duties of the concerned members and the Nominations and Remunerations Committee analyses as well the transactions entered into by the Group with those companies, if any. The Nominations and Remunerations Committee reviews other aspects of the identified business relationships, if any, such as economic importance and/or dependency, duration, level of 4 involvement of the member in the respective decision making, etc. As of the date of this Report, considering the changes in the composition of the Supervisory Board effective as of January 1, 2026, and as mentioned in chapter 4.2.5 of this Report, all members of the Supervisory Board are independent in line with the 2025 independence assessment.

Review for 2024

	Thomas Kremer	Paola Bruno	Alexander Sator	Pascale Mourvillier	Yves Kerveillant	Caroline Tissot	Jean Paul Cottet	Olivier Domergue	Maria Zesch
Criterion 1: Employee or executive officer within the previous 5 years	✔	✔	✔	✔	✔	✔	✔	✔	✔
Criterion 2: Cross- directorships	✔	✔	✔	✔	✔	✔	✔	✔	✔
Criterion 3: Significant business relationships	✔	✔	✔	✔	✔	✔	✔	✔	✔
Criterion 4: Family ties	✔	✔	✔	✔	✔	✔	✔	✔	✔
Criterion 5: Auditor	✔	✔	✔	✔	✔	✔	✔	✔	✔
Criterion 6: Term of office exceeding 12 years	✔	✔	✔	✔	✔	✔	✔	✔	✔
Criterion 7: Status of non-executive officer	✔	✔	✔	✔	✔	✔	✔	✔	✔
Criterion 8: Status of major shareholder	✔	✔	✔	✔	✔	✔	✔	✔	✔

Solutions30 | Annual Report 2025 183

4.2.8 Gender representation

Solutions30 has always been committed to adhering to the provisions of Directive (EU) 2022/2381 (“Women on Boards” Directive) on improving the gender balance among directors of listed companies. This directive calls for publicly traded companies to take the necessary steps to ensure that at least 40% of their non-executive director positions or 33% of non-executive and executive seats are held by women by 2026. The directive makes it clear that the selection and nomination procedures for Director positions should be based on clear and neutral criteria, with a person’s qualifications and merit serving as fundamental criteria. Over the last years Solutions30 has continued to strengthen its governance by placing ESG at the center of the Group’s concerns by integrating it into its strategy and, among other, by emphasizing the importance of diversity and parity on the governance bodies of Solutions30. With this in mind, since 2021, shareholders appointed three additional women to the Supervisory Board, Pascale Mourvillier in 2021, Paola Bruno in 2023 and Maria Zesch in 2025. With the appointment of Maria Zesch in 2025, at the end of December 2025 the Supervisory Board had 7 members, including 3 women, representing 43% of the members and as of the date of this report the Supervisory Board has 5 members including 3 women, representing 60% of the members.

With the current composition of the Supervisory Board, Solutions30 continues to comply today with the Women on Boards Directive.

4.2.9 Preparation and organization of work

The Supervisory Board is a collegial body whose main role is to provide ongoing management oversight of the Company’s Management Board. It also oversees the application of policies implemented by the Management Board, advises the Management Board on overall corporate strategy, and ensures that all applicable rules and regulations are being followed.

Mission of the Supervisory Board

The Supervisory Board’s internal rules stipulate that the Supervisory Board exercises the functions and powers conferred on it by the Law 1915, the Articles of Association, and the Supervisory Board Charter. The Supervisory Board permanently supervises the Company’s management by the Management Board but does not interfere with said management. The Supervisory Board oversees the policies pursued by the Management Board as well as the general progress of the Company’s affairs and business activities and provides the Management Board with advice. In the performance of its duties, the Supervisory Board must seek to act in the best interest of the Company and its business by taking into account the best interest of all stakeholders, including the Company’s shareholders. The Supervisory Board is responsible for the quality of its work. The Supervisory Board also carries out inspections and verifications that it deems appropriate and can obtain any documents that it considers useful to accomplishing its mission. The Supervisory Board ensures proper corporate governance of the Group and oversees the practices of the Group and its managers and employees.

Functioning of the Supervisory Board

Supervisory Board meetings are convened by the chair of the Supervisory Board with the understanding that the latter can also convene a meeting at the request of a member of the Management Board or one third of the members of the Supervisory Board. The Supervisory Board shall meet as often as the interests of the Company require. In any event, it must meet at least four times a year. The frequency and length of meetings must be such as to allow in-depth examination and discussion of matters falling within the competence of the Supervisory Board. Supervisory Board meetings are presided over by the chairperson. The Supervisory Board may validly deliberate if the majority of its members in office are present or represented. Members of the Supervisory Board are considered present in order to constitute a quorum or a majority during meetings via videoconference, conference call, or any other means of communication, provided that all participants can be identified and simultaneously hear each other. Each meeting of the Supervisory Board and its committees must be long enough to allow useful, meaningful discussion of the items on the agenda. Decisions are made by a majority of the votes cast, each Supervisory Board member having one vote. If there are 4 an equal number of votes in favor and against a decision, the chair shall have the casting vote. The obligations of its members are set out in the Supervisory Board Charter. They can hear from the Company’s senior executives if it is in the Company’s interest. Unless the chair of the Supervisory Board decides otherwise, the Management Board and other members of senior management - as agreed by the chair or vice-chair of the Supervisory Board and the Management Board - attend Supervisory Board meetings, notwithstanding the Supervisory Board’s right to invite people to its meetings.

4.2.10 Activity of the Supervisory Board and its Committees in 2025

The Supervisory Board met six times in 2025, with an attendance rate of 97,5%. The Nominations and Remunerations Committee met four times in 2025, with an attendance rate of 100%. The Audit, Risk and Compliance Committee met five times in 2024, with an attendance rate of 100%. The Strategy and ESG Committee met three times in 2025, with an attendance rate of 100%.In the course of 2025, the Supervisory Board held one meeting and several follow up meetings without the presence of the Management Board, and Audit, Risk and Compliance Committee held one meeting with the auditors without the Management Board. These meetings enable the Supervisory Board and the Audit, Risk and Compliance Committee to make an independent assessment of management’s performance, discuss strategic issues and make recommendations, it is an ongoing practice now and in the future. Solutions30 | Annual Report 2025 184

Supervisory Board

	Nominations & Rémunérations Committee	Audit, Risk & Compliance Committee	Strategy & ESG Committee
	Number of attendees / number of meetings	Attendance rate	Number of attendees / number of meetings
Thomas Kremer	6/6	100%	4/4
Paola Bruno	6/6	100%	4/4
Alexander Sator	6/6	100%	4/4
Pascale Mourvillier	6/6	100%	N/A
Yves Kerveillant	6/6	100%	4/4
Caroline Tissot*	2/3	67%	N/A
Jean-Paul Cottet*	3/3	100%	N/A
Olivier Domergue*	3/3	100%	N/A
Maria Zesch*	1/1	100%	N/A

*For the time they were members of the Supervisory Board during the period under consideration.

To carry out its duties, the Supervisory Board relies on specialized committees and may, if necessary, call on external firms. Solutions30 | Annual Report 2025 185

The main points discussed and the decisions made by the Supervisory Board and its committees during their 2025 meetings were as follows:

Supervisory Board
* Assessment of the independence of members of the Supervisory Board
* Review of Solutions30 statutory accounts and consolidated financial statements
* Review of quarterly financial statements
* Evaluation of the Supervisory Board members
* Discussion on the 4-year business plan
* Review and approval of the new long term incentive plan (LTIP)
* Discussion on the succession planning
* Follow-up on the Governance, Risk, and Compliance project and ESG topics
* Approval of the remuneration of the Management Board
* Updates from the Audit, Risk and Compliance Committee, Nominations and Remunerations Committee and Strategy and ESG Committee
* Appointment of vice-chair, chair of the Audit, Risk & Compliance Committee and the review of the candidates for new members of the Supervisory Board
* Renewal of mandate of the chairman of the Management Board
* Confirmation of the composition of Supervisory Board committees

Nominations and Remunerations Committee
* Appointment of vice-chair, chair of the Audit, Risk & Compliance Committee and the review of the candidates for new members of the Supervisory Board
* Renewal of mandate of the chairman of the Management Board
* Review of remuneration of members of the Management Board: review of performance criteria, performance analysis process, and remuneration determinations for 2024
* Review of the LTIP
* Skill reinforcement of the Supervisory Board and Management Board to continue implementing the improvement plan launched by Solutions30 in 2019
* Review of the independence of Supervisory Board members
* Review of the annual self-evaluation process for Supervisory Board members
* Review of the succession plan

Audit, Risk and Compliance Committee
* Review of annual and interim revenue and financial results before presentation to the Supervisory Board
* Audit process and financial communication closing process
* Review of the overall financial standing of the Company and related processes
* Review of exposure to social and environmental risks, review of the impact of ESG on the financial reporting
* Follow-up on the Governance, Risk, and Compliance project – Compliance and Group risk management processes review and assessment
* Internal audit department creation and follow up updates
* Review and monitoring of transactions with related parties
* Review of 2025 audit strategy
* Review of 2025 audit budget
* Discussions on various Group projects related to risk, governance, compliance and finance with the key Group functions (Group CFO, Group Head of Risk, Compliance and ESG, Group Head of legal etc.)

Strategy and ESG Committee
* Discussion on the business activities and markets including the energy segment development.
* Analysis of potential new activities and new markets
* Analysis of potential M&A targets
* Review and monitoring of the intra-Group restructuring processes and cost saving campaigns
* Analysis and discussion on 2025 strategy and business plan
* Analysis of Group ESG initiatives (including the reduction of CO2 emissions) and their progress
* Discussion on ESG KPIs

4.2.11 Information on service contracts

To the Company’s knowledge, during the year ended December 31, 2025, no agreement was entered into, directly or indirectly, between a member of the Supervisory Board or a shareholder holding more than 10% of the Company’s voting rights and the Company itself or one of its subsidiaries except for limited consulting services provided by Mr. Olivier Domergue to the Company, which were not material to the Company’s financial position and were entered into under ordinary market conditions. The service contracts between members of the Management Board and the Company are indicated in section 4.4.4.9. Solutions30 | Annual Report 2025 186

4.3 Management Board

4.3.1 Management Board Composition and Charter

The Management Board is responsible for the day-to-day operations and strategic direction of Solutions30. It is composed of highly experienced executives who bring a diverse set of skills and expertise to the organization. The members of the Management Board work closely together to ensure the implementation of Solutions30’s vision, strategies, and goals. In the course of 2025, the composition of the Management Board remained unchanged. However, as mentioned above, at the end of Q4 2025 Mr. Olivier Domergue resigned from his mandate at the Supervisory Board, and subsequently he was appointed as a member of the Management Board and the Chief Performance Officer, effective as of January 1, 2026, for a period of four years. As of the date of this Report, the Management Board consists of the following individuals:

– Gianbeppi Fortis Chief Executive Officer, Chairman
– Amaury Boilot, Group Secretary General
– Wojciech Pomykała, Chief Operations Officer
– Luc Brusselaers, Chief Revenue Officer
– Olivier Domergue, Chief Performance Officer

Each member of the Management Board has extensive experience in their respective fields, ensuring that the Company is led by a team with a strong track record of success and commitment to the Company’s long-term growth and sustainability. The composition of the Management Board reflects the Company’s dedication to leadership excellence and its focus on driving value for stakeholders.

4.3.2 Management Board Charter

The Management Board adopted an internal charter, which came into force on April 23, 2019, as amended on March 1, 2024. This Management Board Charter specifies the rules and operating principles of the Management Board in addition to the applicable legal and regulatory provisions and the Company’s Articles of Association. The information below is a summary of this Management Board Charter and, therefore, is not intended to be exhaustive.

The Management Board is the main decision-making body responsible for the Company’s management and general affairs. It may be assisted by one or more ad hoc committees that may be created by a resolution of the Management Board. In the present case and for the time being, the Management Board is assisted by two executive committees. Members of the Management Board act as a collegial body and are jointly and severally responsible for the overall management of the Company’s business activities. Regardless of how its members are appointed or how it is organized, the Management Board is and shall remain a collegial body of the Company that is appointed by the Supervisory Board. Consequently, no member of the Management Board has the authority to act on behalf of the Management Board. Each member of the Management Board is a member of a team made up of the members of the Management Board who together form a collegial body.

The Management Board has the power to take any action that is necessary or useful to achieving the Company’s corporate purpose, with the exception of the powers reserved by law or the Articles of Association for the Supervisory Board and the general meeting of shareholders. The Management Board performs its duties under the supervision of the Supervisory Board. Members of the Management Board are appointed and dismissed by the Supervisory Board—which determines their number—for a period of four years, unless otherwise specified in the Articles of Association or unless other exceptional circumstances apply from time to time. They are re-eligible and may be dismissed at any time, with cause, by a resolution of the Supervisory Board.

4.3.3 Management Board committees

The Management Board established two types of executive committees - each of which acts within its area of expertise. The permanent executive committees of the Management Board are the Group Executive Committee and the Country Executive Committees (the Executive Committees).

(i) Group Executive Committee
In order to ensure the right level of support to the Management Board, the countries and business units within the Group, in the first quarter of 2024 the Group Executive Committee was reorganized and the Management Board appointed new members selected for their expertise and experience in their respective fields including legal, compliance, finance, IT, HR ESG, data protection, investors relations and communication.Today, the Committee has 7 members, 57% of whom are women, and a woman is serving as the chair of the Group Executive Committee. The Group Executive Committee plays a key role in implementing the strategy defined by the Management Board and in the day-to-day management of the Group’s activities. This Group Executive Committee provides the Management Board any necessary assistance, support, and advice in order to streamline the decision-making process and monitors important projects and initiatives within the Group. Moreover, the Group Executive Committee’s roles include the following matters:
* Participating in the implementation of internal policies on governance, risk and compliance (GRC), ESG, security, IT, communications, data protection, investors relations, overall finance related procedures, quality management, human resources
* Submitting recommendations to improve these policies
* Advising the Management Board on locally implemented best practices as well as investments and the general organization of the Group

Solutions30 | Annual Report 2025 187

• Promoting synergies and the centralization of certain activities at the Group level to reduce associated costs
• Overseeing the effective risk management
• Implementing decisions taken by or with the Group Management Board of the Company
• Ensuring the free flow of information within the Group

(ii) Country Executive Committee
Under the supervision of the Management Board, the Country Executive Committees regularly report on the Group’s results and activities, providing detailed information on operational performance as well as financial and strategic issues. In doing so, each respective Country Executive Committee ensures the Group moves in the desired direction while meeting the objectives set by the Management Board with a particular focus on local matters in the countries within Solutions30 Group. Moreover, the Country Executive Committee’s duties include the following matters:
* Participating in monthly business review meetings (MBRs) in order to present and discuss highlights of the month per country, revenue and EBITDA, cash flows, balance sheet, items, sales funnels, KPIs, comparison between countries, segments, and subsegments for different cost positions etc.
* Participating in the preparation of the annual budget by country
* Assisting the Group Management Board in establishing the annual budget and monitoring major investments, acquisitions, cash flows, and financial activities at the local level.
* Verifying compliance with local regulations, notably with regard to safety, security, and social responsibility
* Strengthening synergies, seizing opportunities for pooling resources and for further integration within the Group

Solutions30 | Annual Report 2025 188

4.3.4 Members of the Management Board

Gianbeppi Fortis is a graduate of Politecnico di Milano and holds an MBA from INSEAD. Before co-founding Solutions30 in 2003, he was a project manager and consultant for companies such as SITA Equant, Motorola, and IBM. He went on to become chief executive of Kast Telecom, SIRTI France, and RSL Com Italy.

Other positions held outside the Company, within the Solutions30 Group

GIANBEPPI FORTIS	Chairman of the Management Board and Cofounder
Age: 63 years old	Nationality: Italian
1st appointed: 2005, renewed in 2025	Term expires: 2029
Number of shares held: 17,323,240

Current positions
* Solutions30 Iberia 2017 SL – Director
* Solutions30 Italia – Director
* Unit-T BV – Director and Chairman of the Board of Directors
* Unit-T Field Services BV – Director and Chairman of the Board of Directors
* Solutions30 Belgium BV – Representative of Solutions30 SE which is itself General Manager
* Solutions30 Holding SPZOO – Member of the Supervisory Board

Positions that were held during the last 5 years and have ended
* Telekom Usługi SA – Chairman of the Supervisory Board
* Solutions30 Holding GMBH – General Manager
* Solutions30 GMBH – General Manager
* Solutions30 Field Service GMBH – General Manager
* Immconcept Management SA – Managing Director
* Brand 30 SARL – General Manager
* WW Brand SARL – General Manager
* Soft Solutions SARL – General Manager
* Tech Solutions SARL – General Manager
* Smartfix30 SA – Managing Director

Other positions held outside the Company, outside the Solutions30 Group

Current positions
* None

Positions that were held during the last 5 years and have ended
* RETELIT – Director
* Next Gate Tech SA – Director
* GIAS International SA (liquidated) – Director
* Pugal International LTD (liquidated) – Director

4 Solutions30 | Annual Report 2025 189

Amaury Boilot is a graduate of NEOMA Business School and holds an MBA in corporate finance from Kent Business School. Before joining Solutions30 in 2014, he started his career at EY as an auditor and went on to work as a strategy consultant. After managing several business units in France, he joined the Management Board and became the Group’s Chief Financial Officer in May 2017. Since 2023, Amaury Boilot has served as the Group Secretary General of Solutions30.

Other positions held outside the Company, within the Solutions30 Group

AMAURY BOILOT	Group Secretary General
Age: 43 years old	Nationality: French
1st appointed: 2017, renewed in 2023	Term expires: 2027
Number of shares held: 30,060

Current positions
* Unit-T BV – Director
* Unit-T Field Services BV – Director
* Solutions30 Holding SPZOO – Member of the Supervisory Board
* I-Holding BV – Director
* Solutions 30 UK Holding – Director
* Comvergent Holdings Limited – Director
* Solutions30 Luxembourg SA – Member and Chairman of the Board of Directors
* SMARTFIX30 SA – Member and Chairman of the Board of Directors
* Solutions 30 Holding GmbH – Member of the Supervisory Board
* Byon Solutions SA – Member of the Board of Directors
* Solutions 30 Connect – Member of the Board of Directors
* Solutions 30 Portugal SA – Member of the Board of Directors
* Solutions 30 Prazo Elevators SA – Member of the Board of Directors

Positions that were held during the last 5 years and have ended
* Solutions30 UK Limited – Director
* Telekom Usługi SA – Member of the Supervisory Board
* Immconcept Management – Director
* Solutions 30 Rail SA – Member and Chairman of the Board of Directors

Other positions held outside the Company, outside the Solutions30 Group

Current positions
* ABO Conseil SARL – General Manager
* Astrolabe 85 – General Manager
* Le Clos Augustine – Director

Positions that were held during the last 5 years and have ended
* None

4 Solutions30 | Annual Report 2025 190

Luc Brusselaers joined Solutions30 in 2017 and has been a key player in opening the Belgian subsidiary Unit-T and in the partnership with Telenet. He has nearly 30 years of experience in business development and general management positions in the IT and telecommunications sector. Before joining Solutions30, Luc was vice president for Europe and the Middle East of NCR’s telecom and technology division, after having worked as managing director for NCR’s Belgian subsidiary, vice president of customer service for Europe and the Middle East, and sales manager for the same region.

Other positions held outside the Company, within the Solutions30 Group

LUC BRUSSELAERS	Chief Revenue Officer
Age: 63 years old	Nationality: Belgian
1st appointed: 2020	Term expires: 2028
Number of shares held: 1,100

Current positions
* Unit-T BV – Director of As A Service BV, which is itself Director
* ICT Field Services BV – Director of As A Service BV, which is itself Director
* Solutions30 Field Services BV – Director of As A Service BV, which is itself Director
* Unit-T Field Services BV – Director of As A Service BV, which is itself Director
* Solutions30 Holding GMBH – General Manager
* Solutions 30 GMBH – General Manager
* Worldlink GMBH – General Manager
* Solutions 30 Field Services Süd GMBH – General Manager
* Solutions 30 Field Services GMBH – General Manager
* Solutions 30 Operations GMBH – General Manager
* Solutions 30 UK Holding – Director
* Comvergent Holdings Limited – Director
* Solutions30 Netherlands BV – Director of As A Service BV, which is itself Director
* Business Solutions30 Holland BV – Director of As A Service BV, which is itself Director

Positions that were held during the last 5 years and have ended
* Byon Solutions SA – Member of the Board of Directors
* Solutions 30 Rail SA – Member of the Board of Directors
* Solutions30 UK Limited – Director
* LOUWERS BEHEER BV – Director of As A Service BV, which is itself Director

Other positions held outside the Company, outside the Solutions30 Group

Current positions
* As A Service BV – Director

Positions that were held during the last 5 years and have ended
* None

4 Solutions30 | Annual Report 2025 191

Wojciech Pomykała is a graduate of Wrocław University of Science and Technology in Poland (Master of Science, Electronics and Telecommunications, Postgraduate, Digital Telecommunications), also holding an executive MBA from Kozminski University (Poland, 2008) and from the Harvard Business School General Management Program (USA, 2011). Wojciech has more than 22 years of experience in operations and sales for companies in the telecommunications and energy industries. Since 2019, he has been working on the successful deployment of group activities in Poland, and has participated in many cross-functional projects to strengthen the Group’s operational efficiency.

Other positions held outside the Company, within the Solutions30 Group

WOJCIECH POMYKALA	Chief Operations Officer
Age: 50 years old	Nationality: Polish
1st appointed: 2023	Term expires: 2027
Number of shares held: -

Current positions
* Telima Poland SPZOO – Chairman of the Management Board
* Solutions30 Holding SPZOO – Chairman of the Management Board
* Solutions 30 Holding GMBH – Member of the Supervisory Board
* Solutions 30 Portugal SA – Member of the Board of Directors
* Solutions30 Iberia 2017 SL – Director
* Solutions 30 Telecom SPZOO – Power of Attorney
* Byon Solutions S.A.– Member of the Board of Directors • SMARTFIX30 S.A. – Member of the Board of Directors Positions that were held during the last 5 years and have ended • Solutions30 Mobile SPZOO – Chairman of the Management Board • Solutions30 Wschód SPZOO – Chairman of the Management Board • Telekom Uslugi SPZOO – Power of Attorney Other positions held outside the Company, outside the Solutions30 Group Current positions • Mastery of Management SPZOO – Chairman of the Board of Directors • BZWP Family Foundation – Member of the Management Board Positions that were held during the last 5 years and have ended • None

4 Solutions30 | Annual Report 2025 192

4.4 Remuneration

4.4.1 General principles

The Nominations and Remunerations Committee assists the Supervisory Board in its mission to determine and regularly assess all remuneration and benefits for members of the Company’s Management Board and Supervisory Board. In order to determine all the components of remuneration for members of the Management Board, as proposed by the Nominations and Remunerations Committee, the Supervisory Board takes into account numerous principles such as comprehensiveness, balance, comparability, consistency, understandability, and proportionality as recommended by the AFEP-MEDEF code with which the Company complies. The Company does not subscribe to any insurance or pension plans for members of the Supervisory Board or Management Board. The policy on remuneration for members of the Supervisory Board and the Management Board was adopted by the Supervisory Board on May 10, 2022, as proposed by the Nominations and Remunerations Committee. This policy was put to an advisory shareholders’ vote, and approved, at the General Meeting on June 16, 2022. This policy includes a new method of calculation of the remuneration for members of the Supervisory Board namely the annual remuneration is composed of:
– Fixed fee
– Fixed fee for the Supervisory Board committees’ membership
– Variable fee based on attendance to the Supervisory Board and its committees’ physical (or virtual) meetings

The remuneration policy is available on the Solutions30 website, under Investors, General Meeting 2022 section. According to the Company’s remuneration policy, the total annual remuneration for the Supervisory Board may not exceed €407,000. This amount was calculated based on a six-member board and will be adjusted should an additional member be added or should other committees be created. Members of the Supervisory Board are not eligible for variable remuneration plans (annual bonus) or long-term share incentive plans. All these amounts are net of any applicable withholding tax. The total net amount of remuneration to be paid to members of the Supervisory Board for 2025 is set at €384,000. In 2025, the Supervisory Board resolved to decrease the remuneration payable per session to €1,500, thereby demonstrating its commitment to supporting the 4 Company’s financial discipline and long‑term objectives and ensuring continuity with the practices applied to 2024 remuneration. Moreover, the Chair of the Supervisory Board has voluntarily elected to waive all variable fees relating to his participation in the Supervisory Board committees for the year 2025, as an expression of his support for the Group’s ongoing financial optimization efforts.

4.4.2 Remuneration for members of the Supervisory Board

The general meeting approves the remuneration for members of the Supervisory Board in respect of their duties on the Supervisory Board and its committees. The remuneration policy of the Supervisory Board and the compensation framework for the Chair and members of the Supervisory Board and its committees were defined at the General Meeting held on June 16, 2022. This remuneration takes into account the attendance rate of members at meetings of the Supervisory Board and its committees. The amounts of members’ remuneration were defined on the basis of benchmarking done by a third party, with a summary presented to the shareholders before the vote at the General Meeting of June 16, 2022.

	Supervisory Board	Audit, Risk and Compliance Committee	Strategy and ESG Committee	Nominations and Remunerations Committee
	Chair	Member	Chair	Member
Annual fixed remuneration	50,000	30,000	10,000	5,000
Remuneration per session	1,500 - 2,000	1,500 - 2,000	1,500 - 2,000	1,500 - 2,000

Remuneration for Supervisory Board members: During the General Meeting on June 17, 2025, 96.26% of Solutions30 shareholders voted to approve the remuneration for Supervisory Board members for 2024. In 2025 the Supervisory Board held 6 meetings, the Nominations and Remunerations Committee held 4 meetings, the Audit, Risk and Compliance Committee held 5 meetings and the Strategy and ESG Committee held 3

4 Solutions30 | Annual Report 2025 193

meetings for a total of 18 meetings in 2025, compared to 26 meetings in 2024.

	Amounts allocated for 2024 and paid in 2025	Amounts allocated for 2025 and paid or payable in 2026
Thomas KREMER Chair of the Supervisory Board	€68,747	€70,000
Paola BRUNO Vice - Chair of the Supervisory Board	€58,500	€59,500
Pascale MOURVILLIER Member of the Supervisory Board	€67,062	€64,000
Yves KERVEILLANT Member of the Supervisory Board	€72,438	€60,500
Maria ZESCH * Member of the Supervisory Board	€—	€9,000
Caroline TISSOT* Former Member of the Supervisory Board	€51,000	€22,500
Jean Paul COTTET* Former Member of the Supervisory Board	€55,000	€26,000
Alexander SATOR Former Member of the Supervisory Board	€74,253	€48,000
Olivier DOMERGUE * Former Member of the Supervisory Board	€—	€24,500
Total	€447,000	€384,000

*The remuneration to be paid in 2026 is prorated for the duration of the respective term of office in 2025.

4.4.3 Shares held by members of the Supervisory Board

At December 31, 2025, members of the Supervisory Board and persons closely related to them according to the definition provided by Regulation (EU) No 596/2014 of the European Parliament and of the Council of April 16, 2014, on market abuse (MAR) did not hold any shares.

4.4.4. Remuneration for members of the Management Board

4.4.4.1 General framework for remuneration policy

The policy on remuneration for members of the Management Board is proposed by the Nominations and Remunerations Committee and set by the Supervisory Board. The remuneration policy includes incentives that reflect the Group’s strategy for long-term growth, while acting responsibly towards all stakeholders. The goal of the Solutions30 Management Board remuneration policy is to align the interests of Group Directors with those of the Company and its shareholders by tying remuneration closely to performance. Its overall objective is to encourage Directors to meet ambitious targets and to create value over the long term by setting demanding performance criteria. The Nominations and Remunerations Committee cooperates closely with the Chairman of the Management Board to align the remuneration targets of the Management Board members with long-term management objectives. In his advisory capacity, the Chairman of the Management Board provides information on the Group’s performance, the challenges faced and the opportunities ahead, enabling the Nominations and Remunerations Committee to make informed decisions on remuneration (Chairman of the Management Board is excluded from the process leading to the decisions of the Nominations and Remunerations Committee with respect to his remuneration). In addition, Chairman of the Management Board contributes to the Nominations and Remunerations Committee’s work with respect to the Management Board candidate evaluation namely by drawing from his experience and knowledge of the industry and offering perspectives on the suitability of potential candidates 4 including assessing their qualifications, experience, reputation, and potential contribution to the Management Board. The components taken into account to determine remuneration are as follows:
• An annual base (fixed) remuneration that may vary according to each member’s role and responsibilities and that may be reviewed by the Nominations and Remunerations Committee from time to time and compared to practices adopted by companies with comparable challenges, characteristics, and history.
• A variable remuneration that is based on challenging official annual goals that the Supervisory Board reviews and approves every year in accordance with the Nominations and Remunerations Committee’s recommendations.
• A long-term incentive plan, if applicable. including the allocation of shares or stock options granted on the basis of performance criteria with the aim of fostering long-term commitment among members of the Management Board, in accordance with shareholder interests.
• Furthermore, all members of the Management Board are provided with a company car.

4.4.4.2 Fixed and variable remuneration

The fixed remuneration of Management Board members was increased in line with an automatic legal indexation. The tables below reflect these items, as well the status of members of the Management Board.

Variable remuneration

Variable remuneration is tied to the achievement of formal and demanding objectives defined by the Supervisory Board in accordance with the recommendations of the Nominations and Remunerations Committee.

Variable remuneration for 2025

The principles for calculating variable remuneration for 2025 have been revised compared to 2024 by incorporating the new net income target. The variable portion remains unchanged and continues to be capped at 50% of the fixed remuneration. The applicable criteria listed in the table below were approved by the Supervisory Board on the proposal of the Nominations and Remunerations Committee.# Solutions30 | Annual Report 2025 194

Weighting for annual variable remuneration criteria in 2025

Criteria for annual variable remuneration for 2025	Explanation of indicator relevance and implementation modalities	Minimum as a % of theoretical variable remuneration	Target as a % of theoretical variable remuneration	Maximum as a % of theoretical variable remuneration
Quantitative criteria
Revenue	These three indicators reflect the quality of group economic and financial management from different complementary points of view. The target objectives correspond to the group budget for 2025, as approved by the Supervisory Board. Determining whether a target has been reached is based on a comparison between the budget and year-end results. The amount of each bonus is based on the degree to which these targets have been reached. Each objective weights 25% or 20% of total. There is a linear correlation between low bound and target objective and the possibility of obtaining up to 140% target bonus if related objective is overreached by up to 120%.	0%	25%	35%
EBITDA (post IFRS)		0%	25%	35%
Free Cash Flow		0%	20%	28%
Net income		0%	20%	28%
Qualitative criteria
GRC related indicators:	Reduce the environmental impact to Group’s activities: reduce GHG emissions intensity (Scope 1 & 2) by 8.8% compared to 2024 – Contributing to a low-carbon economy by delivering solutions that drive and support the energy transition: increase the % of green activities of Solutions30 revenue by 20% comparing to 2024 – Ensure a safe and secure work environment: keep the injury severity rate below 0.65 – Train the employees developing their skills to advance their careers: have at least 25 hours of training per employee per year; ensure that at least 80% of active employees participate in ESG awareness sessions – Promote diversity and equal opportunities: ensure at least 25% of women in management positions – Make Solutions30 a reliable partner by ensuring that our partners are thoroughly verified: at least 95% of active subcontractors registered in mySupplace	0%	5%	5%
CSR indicators are designed to measure the effectiveness of measures taken to achieve the social and environmental objectives defined by the Supervisory Board for the Group. Risk control indicators are designed to measure the effective implementation of the internal control framework defined for the Group. The amount of each bonus depends on reaching the target set for each indicator.
GRC related indicators:	The implementation rate of the internal control framework must be 92% by the end of 2025. (linear correlation between the low bound (78.2%) and the target (92%). if the result is below 78.2% the target is considered not reached)	0%	5%	5%
Total variable remuneration as a % of theoretical variable remuneration (the variable portion is capped at 50% of the fixed remuneration of each member of the Management Board)		0%	100%	136%

Solutions30 | Annual Report 2025 195

Objectives reached in 2025 and explanation

Criteria for annual variable remuneration for 2025	Objective reached	Evaluation	Percentage of remuneration under this criterion
Quantitative criteria
Revenue	6.7%	Revenue in 2025 amounted to €892.4 million, or 26.8% of the target. The objective has been partially met and the percentage of remuneration under this criterion is 6.7% of the theoretical variable remuneration.
EBITDA (post IFRS)	0%	EBITDA (post IFRS) in 2025 amounted to €65.2 million, or 0% of the target. The objective is therefore not met the percentage of remuneration under this criterion is 0 of the theoretical variable remuneration.
Free cash flow	16.3%	Free cash flow amounted to €15.4 million, or 81% of the target. The objective has been partially met and the percentage of remuneration under this criterion is 16.3% of the theoretical variable remuneration.
Net income	0%	Net income was -€58.3 million. The objective is therefore not met; the percentage of remuneration under this criterion is 0 of the theoretical variable remuneration.
Qualitative criteria
– Reduce the environmental impact to Group’s activities: reduce GHG emissions intensity (Scope 1 & 2) by 8.8% compared to 2024 – Contributing to a low-carbon economy by delivering solutions that drive and support the energy transition: increase the % of green activities of Solutions30 revenue by 20% comparing to 2024 – Ensure a safe and secure work environment: keep the injury severity rate below 0.65 – Train the employees developing their skills to advance their careers: have at least 25 hours of training per employee per year; ensure that at least 80% of active employees participate in ESG awareness sessions – Promote diversity and equal opportunities: ensure at least 25% of women in management positions – Make Solutions30 a reliable partner by ensuring that our partners are thoroughly verified: at least 95% of active subcontractors registered in mySupplace	5%	95% of CSR performance targets were met so the objective is met at 100%. The percentage of remuneration under this criterion is 5% of the theoretical variable remuneration.
		– GHG emissions at 26,42 tCO2 – result: 26,05 tCO2 – Contributing to a low-carbon economy – 17% – Reduce Injury Severity rate at 0.65 – result: 0,58 – Training per employee at 2h– result: 27,6h – ESG awareness session participation at 80% - result: 81% – Feminization in management at at least 25% - result: 26,1% – Subcontractors mySupplace registration at 95% - result: 99,1%
GRC related indicators:	5%	93% of GRC performance targets were met so the objective is met at 100%. The percentage of remuneration under this criterion is 5% of the theoretical variable remuneration.
The implementation rate of the internal control framework must be 92% by the end of 2025. (linear correlation between the low bound (78,2%) and the target (92%), if the result is below 78,2% the target is considered not reached)
Total variable remuneration as a % of theoretical variable remuneration (the variable portion is capped at 50% of the fixed remuneration of each member of the Management Board)	33%

The Supervisory Board which met on March 30, 2026, upon the recommendation of the Nominations and Remunerations Committee analyzed the level of achievement of the quantitative and qualitative performance goals mentioned above and set the amount of annual variable remunerations for members of the Management Board for 2025. These amounts are detailed in section 4.4.4.9 of this report. The Supervisory Board noted that the qualitative targets related to CSR indicators were met, but that quantitative targets—namely revenue and free‑cash-flow targets were partially achieved, while the EBITDA and net income targets were not met.

4

The principles for calculating variable remuneration for 2026 have been revised in comparison with year 2025 by incorporating an objective related to the finalization of agreements supporting the achievement of the Group’s strategic goals. The criteria in the table below were approved by the Supervisory Board in a meeting on March 30, 2026, at the recommendation of the Nominations and Remunerations Committee. The variable part may be up to a maximum of 50% of the annual fixed remuneration.

Solutions30 | Annual Report 2025 196

Variable remuneration for 2026

Weighting for annual variable remuneration criteria in 2026

Criteria for annual variable remuneration for 2026	Explanation of indicator relevance and implementation modalities	Minimum as a % of theoretical variable remuneration	Target as a % of theoretical variable remuneration	Maximum as a % of theoretical variable remuneration
Quantitative criteria
Revenue	These four indicators reflect the quality of group economic and financial management from different complementary points of view. The target objectives correspond to the group budget for 2026, as approved by the Supervisory Board. Determining whether a target has been reached is based on a comparison between the budget and year-end results. The amount of each bonus is based on the degree to which these targets have been reached. Each objective weights either 15% or 45% of total. There is a linear correlation between low bound and target objective and the possibility of obtaining up to 120% target bonus if related objective is overreached by up to 110%.	0%	15%	18%
EBITDA (post IFRS)		0%	15%	18%
Net income		0%	15%	18%
Ensure sustainable results in discussions with key stakeholders		0%	45%	54%
Qualitative criteria
CSR and related indicators:	– Reduce the environmental impact to Group’s activities: (i) reduce GHG emissions intensity (Scope 1) by 4% compared to 2025, and (ii) reduce GHG emissions intensity (Scope 2) by 7% compared to 2025 – Contributing to a low-carbon economy by delivering solutions that drive and support the energy transition: increase the % of green activities of Solutions30 revenue by 5,5% comparing to 2025 – Ensure a safe and secure work environment: keep the injury severity rate below 0.65 – Train the employees developing their skills to advance their careers: (i) have at least 25 hours of training per employee per year; (ii) ensure that at least 85% of active employees participate in ESG awareness sessions, (iii) ensure that at least 70% of active employees attend the Ec0-driving and Safe-driving training, and (iv) ensure that at least 70% of active employees attend cyber security training – Promote diversity and equal opportunities: ensure at least 27% of women in management positions:(i) For countries with % of women in management positions<27%, at least 33% of new manager hires need to be women(ii) For countries with % of women in management positions≥27% to 50%, at least 25% of new manager hires need to be women – Make Solutions30 a reliable partner by ensuring that our partners are thoroughly verified: at least 97% of active subcontractors registered in mySupplace
CCSR indicators are designed to measure the effectiveness of measures taken to achieve the social and environmental objectives defined by the Supervisory Board for the Group. GRC indicators are designed to measure the effective implementation of the internal control framework defined for the Group. The amount of each bonus depends on reaching the target set for each indicator.

Solutions30 | Annual Report 2025 197

4.4.4.3 Severance pay

In case their contract is terminated without cause, all members of the Management Board are entitled to compensation equal to (i) the total fee agreed until the termination of the contract (fee being a monthly fee agreed as per the contract), (ii) a pro-rata bonus payment equal to the bonus paid for the previous fiscal year pro rata the duration of the provision of the services during the current fiscal year, (iii) a bonus for the previous fiscal year approved but not yet paid, if applicable and (iv) a termination indemnity corresponding: (a) to the last agreed monthly fee multiplied by eighteen (18) and (b) the amount equal to the last approved bonus multiplied by 1.5. This compensation is paid in cash.

When a member of the Management Board leaves the Company, and, if he is entitled to a severance payment, such indemnity is calculated based on the achievement of annual targets for the previous year and pro rata for the year in which his contract was terminated. The severance payment is therefore subject to performance conditions assessed over two financial years.

A member of the Management Board who resigns has no right to any compensation, except for his regular remuneration until the termination of his contract and a compensation related to a non-competition clause, if applicable. Management Board members’ contracts contain a non- competition clause lasting between 3 and 18 months. The Company reserves the right to activate or not the non- competition clause. Activation of the non-competition clause is subject to the terms and conditions defined in the contract and is governed by the applicable legislation governing such clauses. The decision regarding the non- competition clause will be carried out in accordance with established contractual stipulations and will be communicated to the Management Board member in a transparent manner. For the sake of completeness, the aggregate of the two indemnities (termination indemnity and non-competition indemnity) shall not exceed a maximum of two years’ remuneration (fixed and variable). It is agreed in the respective contracts that the termination indemnity, where applicable, includes a non-competition indemnity. Payment of the non-competition indemnity will be paid in installments staggered over its term, if applicable.

4.4.4.4 Special remuneration

No special remuneration is due or paid to members of the Management Board.

4.4.4.5 Benefits in kind and other

Determined according to local specificities and individual situations, benefits in kind essentially consist of the provision of a company car. There are no additional or supplemental pension plans for members of the Management Board.

4.4.4.6 Long-term variable remuneration in shares

The long-term variable remuneration policy is designed to attract talent, to encourage Solutions30 SE management- including members of the Management Board - to take a long-term view of their work, to build loyalty, and to facilitate the alignment of their interests with those of the shareholders by giving them a stake in the value of company shares. The principles of a current long-term incentive plan (LTIP) were discussed extensively in the course of 2024 by the Nominations and Remunerations Committee and the Supervisory Board and eventually they were approved by the shareholders at the annual general meeting of shareholders of June 17, 2024. Following the shareholders’ approval of the LTIP in 2024 and the subsequent discussions between the Company and the Supervisory Board, in 2025 the Supervisory Board 4 agreed to revise the instrument used in the context of the LTIP for the Management Board and the Group Executive Committee and decided to replace the initially foreseen share certificates instrument with a standard stock options’ instrument. Moreover, the Supervisory Board decided to modify the performance period applicable to the LTIP and set it at the years 2025-2027 instead of 2024-2026 not to implement the plan with a retroactive effect. Other key managers shall be eligible to receive a payment in cash, correlated to the fulfillment of quantitative targets, under the terms of the LTIP made at the sole discretion of the Supervisory Board or, as the case may be, by the Group Management Board. Apart from the above, the main principles of the LTIP such as its 3 years performance period, the performance targets or dilution remain unchanged and as approved by the shareholders in 2024.

Consistent with best market practices, this LTIP contains the following general provisions:

Purpose: The purpose of the LTIP is to (1) offer competitive compensation packages in the global marketplace and incentivize long-term participation by participants in the Company’s success and (2) to align the long-term interests of the Company’s executive officers with those of its shareholders by providing them with the opportunity to participate in the Company’s long-term growth, while enduring a financial commitment and respective underlying associated risks. The LTIP shall reward key employees for their commitment to the Company and their past performances, and thereof, incentivize them (i) in contributing to the growth and value creation of Solutions30 and subsequently, (ii) allowing them to benefit from the sustainable and growing financial health of the Company, hence promoting a greater alignment of interests between such key employees and the shareholders of Solutions30.

Implementation: This LTIP is designed as a stock options plan starting from a date decided by the Company’s Supervisory Board as proposed by the Nomination and Remuneration Committee thereof. The Company aims at granting its key employees stock options of which the underlying is Solutions30 ordinary shares (the Stock Options). Granted Stock Options provide the Beneficiary with the right (but not the obligation) to acquire underlying Solutions30 shares against the corresponding strike price at the end of the performance vesting period. The granting of Stock Options is determined at the sole discretion of the Company’s Supervisory Board upon the recommendation of the Nominations and Remunerations Committee or, when applicable, the Management Board. Members of the Supervisory Board are not eligible for this plan.

Size: The number of shares available with respect to all Stock Options granted under the LTIP shall not exceed four million nine hundred and five thousand three hundred thirty-four (4,905,334) in the aggregate. This is equivalent to a gross maximum dilution of circa. 5% of the outstanding share capital of the Company. The effective net dilution is expected to be significantly less under today’s assumptions. No individual shall be entitled to a right to be granted for more than 25% of the Stock Options pool.

Term and vesting period of the instruments: For members of the Management Board and the Group Executive Committee, instruments shall be definitively allocated after the defined performance criteria have been achieved for a period of three consecutive years and may only be exercised one year after their definitive allocation.

Price: The Strike Price at which each vested Stock Option can be exercised shall be set to correspond to the average fair market value of Solutions30 shares over the last three months preceding the grant date.

Performance criteria for members of the Management Board and Group Executive Committee:

Performance conditions - KPI factors	Weight	Definition
Revenue	25%	Revenue target is defined for the end of the performance period (end of 2027). The criterion is assessed by calculating the sum of the performances over the three (3) fiscal years in relation to the target performance. Possibility to overshoot up to 120%.
EBITDA	30%	EBITDA target is defined for the end of the performance period (end of 2027). The criterion is assessed by calculating the sum of the performances over the three fiscal (3) years in relation to the target performance. Possibility to overshoot up to 120%.
Free cash flow	25%	Free Cash Flow target is defined for the end of the performance period (end of 2027). The criterion is assessed by calculating the sum of the performances over the three (3) fiscal years in relation to the target performance. Possibility to overshoot up to 120%.
Relative Total Shareholder Return (TSR”)	20%	Relative TSR performance is assessed at each end of cycle (end of 2027). The criterion is assessed by calculating Solutions30 share price performance to the average performance of a peer group composed of comparable companies.
Trigger: Environmental, Social and Governance ( ESG ) metric (from 0.9 to 1.0):		ESG target will be defined and assessed on a yearly basis and at the end of the performance period (end of 2027). The criterion is assessed by calculating the sum of the performances over the three (3) fiscal years in relation to the target performance. 0,9 if the ESG targets are met at less than 70% (low bound), 1 if the ESG targets are met at 100% (high bound) or more. Linear correlation between the 2 bounds.

Solutions30 | Annual Report 2025 198# 4 Solutions30 | Annual Report 2025 199

The Stock Options were granted in the course of 2025 as reflected in the table below:

Number of beneficiaries	Year granted	Type	Unit valuation of options according to the method used for the consolidated financial statements	Number of options granted during the year	Strike price	Exercise period
Management Board
Gianbeppi FORTIS	2025 Stock options	0.81	970,847	1.29
Amaury BOILOT	2025 Stock options	0.81	889,092	1.29
Luc BRUSSELAERS	2025 Stock options	0.81	705,142	1.29
Wojciech POMYKALA	2025 Stock options	0.81	643,825	1.29
Other members of management	2025 Stock options	0.81	268,304	1.29

The Stock options are subject to a one-year lock-up period (Blocking Period) running from the Vesting Date corresponding to the date of publication of the 2027 audited annual accounts (i.e., around April 2028). The totality of Vested Options will be automatically exercised during the Exercise Window which shall open as from the end of the Blocking Period and shall remain open for 20 business days unless otherwise stated by the Supervisory Board. The Blocking Period starts at the Vesting Date and ends at the opening of the Exercise Window (i.e., 31 December 2028).

4.4.4.7 Shares held by members of the Management Board

As of the date of this report, the members of the Management Board held a total of 17,354,400 shares, representing 16.2% of the Company’s shares and voting rights (on a fully diluted basis). Transactions carried out by members of the Management Board are published on the Company’s website, in the Regulated Information section. Members of the Management Board are required to comply with the rules governing trading in Company securities.

4.4.4.8 Trading in Company securities

The members of the Management Board and the Supervisory Board are aware of the rules to be applied in terms of preventing insider trading, in particular those arising from European Market Abuse Regulation No. 596/2014, which came into force on July 3, 2016, and the recommendations of the French Financial Markets Authority, in particular concerning the periods during which share trading is prohibited. Insider information is specific, non-public information which, if made public, could have a significant influence on the share price. This insider information may be of three types: strategic, related to the definition and implementation of the Company’s growth policy; recurring, related to the annual timetable for drafting and disclosing annual and interim financial statements, regular communications, or periodic meetings devoted to financial information; and one-off, related to a given program, project, or financial transaction. All members of the Management Board and the Supervisory Board, as well as any person considered to be an insider, must refrain from directly or indirectly carrying out (or recommending to carry out) any transaction in the financial instruments of the Company and its subsidiaries for which they have insider information or from communicating insider information, as well as from recommending to another person, on the basis of insider information, that they carry out insider trading in the Company’s financial instruments. Transactions involving the purchase or sale of Company securities or financial instruments are prohibited during periods between the date on which insiders are privy to specific information regarding business developments or the Company’s outlook - which, if made public, could noticeably influence the share price - and the date on which this information is made public. Moreover, all transactions are strictly forbidden for a period of:
* Thirty calendar days before the scheduled publication date of the annual consolidated financial statements and half-year consolidated financial statements
* Fifteen calendar days before the scheduled publication date of quarterly financial information

At the beginning of each calendar year, the Company draws up and releases a timetable for determining the periods during which trading in Company securities is prohibited.

Solutions30 | Annual Report 2025 200

4.4.4.9 Remuneration for members of the Management Board for 2024:

Gianbeppi FORTIS, Chairman of the Management Board

Summary of Gianbeppi Fortis’ remunerations

	2024	2025
	Amounts due	Amounts paid
Fixed remuneration	389,753	389,753
Variable remuneration	108,764	—
Special remuneration	—	—
Directors’ fees	—	—
Benefits in kind and other	19,530	19,530
Total	518,047	409,283

The current contract between Gianbeppi Fortis and the Company is dated December 13, 2022. The contract was entered into for an indefinite period and concerns managing and leading Solutions30 SE teams in a process of internal and external development with the objective of improving its management and productivity just as the previous services contracts linking the Company and Gianbeppi Fortis did The contract has been amended over the last years and currently the fixed monthly remuneration of Mr. Fortis is set at €31,867 (excluding tax). To this fixed remuneration may be added a variable remuneration, at the discretion of the Supervisory Board and based on reaching quantitative and qualitative goals as described in the preceding section, up to 50 % of the annual fixed fee. Gianbeppi Fortis is not entitled to any pension obligations or other life annuity benefits, other than those granted under the compulsory basic pension plan and supplemental pension plans.

Long-term remuneration in securities

Following the approval by the Supervisory Board and on the recommendation of the Nominations and Remunerations Committee, 3,903,828 options were granted to members of the Management Board and certain members of management, in accordance with the long-term incentive plan described in section 4.4.4.6 of this report, Gianbeppi Fortis was granted 970 847 options. The stock options are subject to a one-year lock-up period (Blocking Period) running from the Vesting Date corresponding to the date of the publication of the 2027 audited annual accounts (i.e., around April 2028).

Summary of remuneration paid to Gianbeppi Fortis :

	2024	2025
Total remuneration for the period ¹	518,047	484,715
Valuation of options allocated during the year	—	786,386 ²
Valuation of performance shares allocated during the period	—	—
Valuation of other long-term remuneration plans	—	—
Total	518,047	1,271,101

¹ Remuneration as detailed in the previous table.
² Unit valuation of options at € 0,81 in accordance with the method used for the consolidated accounts. The long-term incentive plan covers the period 2025-2027 and its allocation was made on March 31, 2025.

Other elements of Gianbeppi Fortis’ status

Employ ment contrac t	Supplement ary pension plan	Severance pay or benefits owed or potentially owed due to termination or change in office	Non- competition fees	Deferred remunerations
YES	NO	NO	YES	YES

Severance pay and non-competition fee
Please refer for details to chapter 4.4.4.3 of this Report.

Solutions30 | Annual Report 2025 201

Amaury BOILOT, Member of the Management Board

Summary of Amaury Boilot’s remunerations

	2024	2025
	Amounts due	Amounts paid
Fixed remuneration	375,540	375,540
Variable remuneration	104,797	—
Special remuneration	—	—
Directors’ fees	—	—
Benefits in kind and other	45,866	45,866
Total	526,203	421,406

The current service contract is entered into with Amaury Boilot’s wholly owned Luxembourg company, ABO Conseil S.à r.l. and Solutions30 SE, for an indefinite period and concerns managing and leading the Company’s teams in a process of internal and external development with the objective of improving and perfecting its management and productivity. It has been effective as of August 1, 2022. The contract has been amended since and as of November 20, 2023, ABO Conseil’s fixed monthly remuneration was increased from €28,868 (excluding tax) to €31,090 (excluding tax) per month. To this fixed remuneration may be added a variable remuneration, at the discretion of the Supervisory Board and based on reaching quantitative and qualitative goals as described in the preceding section, up to 50 % of the annual fixed fee. Amaury Boilot is not entitled to any pension obligations or other life annuity benefits, other than those granted under the compulsory basic pension plan and supplemental pension plans.

Long-term remuneration in securities

Following the approval by the Supervisory Board and on the recommendation of the Nominations and Remunerations Committee, 3,903,828 options were granted to members of the Management Board and certain members of management, in accordance with the long-term incentive plan described in section 4.4.4.6 of this report, Amaury Boilot was granted 889,092 options. The stock options are subject to a one-year lock-up period (Blocking Period) running from the Vesting Date corresponding to the date of the publication of the 2027 audited annual accounts (i.e., around April 2028).

Other elements of Amaury Boilot’s status

	2024	2025
Total remuneration for the period ¹	526,203	482,957
Valuation of options allocated during the year	—	720,165 ²
Valuation of performance shares allocated during the period	—	—
Valuation of other long-term remuneration plans	—	—
Total	526,203	1,203,122

¹ Remuneration as detailed in the previous table.
² Unit valuation of options at € 0,81 in accordance with the method used for the consolidated accounts. The long-term incentive plan covers the period 2025-2027 and its allocation was made on March 31, 2025.Other elements of Amaury Boilot’s status
| | Employment contract | Supplementary pension plan | Severance pay or benefits owed or potentially owed due to termination or change in office | Non-competition fees |
| :--- | :---: | :---: | :---: | :---: |
| Amaury BOILOT | NO | NO | YES | YES |

Deferred remunerations
Severance pay and non-competition fee
Please refer for details to chapter 4.4.4.3 of this Report.

Luc BRUSSELAERS, Member of the Management Board

Summary of Luc Brusselaers’ remuneration

	2024	2025
	In €
	Amounts due	Amounts paid
Fixed remuneration	300,264	300,264
Variable remuneration	83,791	—
Special remuneration	—	—
Directors’ fees	—	—
Benefits in kind and other	9,000	9,000
Total	393,055	309,264

A contract for services was entered into on January 1, 2020, between As A Service, a Belgian company wholly owned by Luc Brusselaers, and Solutions30 SE, for an indefinite period and concerns managing and leading the Solutions30 | Annual Report 2025 202 Company’s teams in a process of internal and external development with the objective of improving and perfecting its management and productivity. The contract has been amended over the last years and the current monthly fixed remuneration for As A Service amounts to €25,022 (excluding tax). To this fixed remuneration may be added a variable remuneration, at the discretion of the Supervisory Board and based on reaching quantitative and qualitative goals as described in the preceding section, up to 50 % of the annual fixed fee. Luc Brusselaers is not entitled to any pension obligations or other life annuity benefits, other than those granted under the compulsory basic pension plan and supplemental pension plans.

Long-term remuneration in securities
Following the approval by the Supervisory Board and on the recommendation of the Nominations and Remunerations Committee, 3,903,828 options were granted to members of the Management Board and certain members of management, in accordance with the long-term incentive plan described in section 4.4.4.6 of this report, Luc Brusselaers was granted 705,142 options. The stock options are subject to a one-year lock-up period (Blocking Period) running from the Vesting Date corresponding to the date of the publication of the 2027 audited annual accounts (i.e., around April 2028).

Summary of remuneration paid to Luc Brusselaers:

	2024	2025
Total remuneration for the period 1	393,055	358,795
Valuation of options allocated during the year	—	571,165
Valuation of performance shares allocated during the period	—	—
Valuation of other long-term remuneration plans	—	—
Total	393,055	929,960

1 Remuneration as detailed in the previous table
2 Unit valuation of options at €0.81 in accordance with the method used for the consolidated accounts. The long-term incentive plan covers the period 2025-2027 and its allocation was made on March 31, 2025.

Other information about Luc Brusselaers’ status
| | Employment contract | Supplementary pension plan | Severance pay or benefits owed or potentially owed due to termination or change in office | Non-competition fees |
| :--- | :---: | :---: | :---: | :---: |
| Luc BRUSSELAERS | NO | NO | YES | YES |

Deferred remunerations
Severance pay and non-competition fee
Please refer for details to chapter 4.4.4.3 of this Report.

Wojciech POMYKALA, Member of the Management Board

Summary of remuneration for Wojciech Pomykala

	2024	2025
	In €
	Amounts due	Amounts paid
Fixed remuneration	300,264	300,264
Variable remuneration	83,791	—
Special remuneration	—	—
Directors’ fees	—	—
Benefits in kind and other	19,200	19,200
Total	403,255	319,464

4 Since the signature of a contract for services, dated February 1, 2023, the remuneration and benefits described in the table below are received by Mastery of Management Sp. z o.o., a Polish entity wholly owned by Wojciech Pomykala. The contract has been amended over the last years, and Wojciech Pomykala’s monthly fixed remuneration amounts to €25,022 (excluding tax). To this fixed remuneration may be added variable remuneration, at the discretion of the Supervisory Board and based on reaching quantitative and qualitative goals as described in the preceding section, up to 50% of the annual fixed fee. Wojciech Pomykala is not entitled to any pension obligations or other life annuity benefits, other than those granted under the compulsory basic pension plan and supplemental pension plans.

Long-term remuneration in securities
Following the approval by the Supervisory Board and on the recommendation of the Nominations and Remunerations Committee, 3,903,828 options were granted to members of the Management Board and certain members of management, in accordance with the long-term incentive plan described in section 4.4.4.6 of this report, Wojciech Pomykala was granted 643,825 options. The stock options are subject to a one-year lock- up period (Blocking Period) running from the Vesting Date corresponding to the date of the publication of the 2027 audited annual accounts (i.e., around April 2028).

Summary of remuneration paid to Wojciech Pomykala
Solutions30 | Annual Report 2025 203

	2024	2025
Total remuneration for the period 1	403,255	368,995
Valuation of options allocated during the year	—	521,498
Valuation of performance shares allocated during the period	—	—
Valuation of other long-term remuneration plans	—	—
Total	403,255	890,493

1 Remuneration as detailed in the previous table
2 Unit valuation of options at €0.81 in accordance with the method used for the consolidated accounts. The long-term incentive plan covers the period 2025-2027 and its allocation was made on March 31, 2025.

Other elements of Wojciech Pomykala’s status
| | Employment contract | Supplementary pension plan | Severance pay or benefits owed or potentially owed due to termination or change in office | Non-competition fees |
| :--- | :---: | :---: | :---: | :---: |
| Wojciech POMYKALA | NO | NO | YES | YES |

Deferred remunerations
Severance pay and non-competition fee
Please refer for details to chapter 4.4.4.3 of this Report.

Olivier DOMERGUE, Member of the Management Board

Summary of remuneration for Olivier Domergue

	2024	2025
	In €
	Amounts due	Amounts paid
Fixed remuneration	—	—
Variable remuneration	—	—
Special remuneration	—	—
Directors’ fees	—	—
Benefits in kind and other	—	—
Total	—	—

Olivier Domergue, previously a member of the Supervisory Board, as mentioned further above, after stepping down from the Supervisory Board, he accepted a mandate as Management Board member and signed a services contract between his wholly owned French company, Oddo- Solutions & Performance and Solutions30 SE effective as of January 1, 2026. This services contract is for an indefinite period and concerns managing and leading the Company’s teams in a process of internal and external development with the objective of improving and perfecting its management and productivity. According to this contract, a fixed monthly remuneration is set at €31,500 (excluding tax) per month. In addition, Olivier Domergue has an employment contract with an annual salary equal to €35,000 To this fixed remuneration may be added variable remuneration, at the discretion of the Supervisory Board and based on reaching quantitative and qualitative goals as described in the preceding section, up to 50% of the annual fixed fee. Olivier Domergue is not entitled to any pension obligations or other life annuity benefits, other than those granted under the compulsory basic pension plan and supplemental pension plans.

4 Long-term remuneration in securities
Following the approval by the Supervisory Board and on the recommendation of the Nominations and Remunerations Committee, 3,903,828 options were granted to members of the Management Board and certain members of management, in accordance with the long-term incentive plan described in section 4.4.4.6 of this report. As Olivier Domergue joined the Management Board effective January 1, 2026, no options have been granted to him as of the date of this Report. The stock options are subject to a one-year lock-up period (Blocking Period) running from the Vesting Date corresponding to the date of the publication of the 2027 audited annual accounts (i.e., around April 2028).

Summary of remuneration paid to Olivier Domergue
Solutions30 | Annual Report 2025 204

	2024	2025
Total remuneration for the period 1	—	—
Valuation of options allocated during the year	—	—
Valuation of performance shares allocated during the period	—	—
Valuation of other long-term remuneration plans	—	—
Total	—	—

Other elements of Olivier Domergue’s status
| | Employment contract | Supplementary pension plan | Severance pay or benefits owed or potentially owed due to termination or change in office | Non-competition fees |
| :--- | :---: | :---: | :---: | :---: |
| Olivier DOMERGUE | YES | NO | YES | YES |

Deferred remunerations
Severance pay and non-competition fee
Please refer for details to chapter 4.4.4.3 of this Report.

Solutions30 | Annual Report 2025 205

5 Comments on the year

5.1 Review of the Group’s financial position and earnings

The consolidated financial statements for Solutions30 were prepared in accordance with IFRS (International Financial Reporting Standards) as adopted by the European Union and applicable at the end of the reporting period, i.e. December 31, 2025.

5.1.1 Key financial highlights and performance indicators

The Group’s accounting principles for preparing its accounts are described in note 2 of section 6.2. “Notes to the consolidated financial statements.”

In millions of euros	31.12.2025	2024 restated*	Change
Revenue	892.4	943.0	(5.4)%
Adjusted EBITDA	65.2	74.6	(12.7)%
As a % of revenue	7.3%	7.9%
Adjusted EBIT	7.3	29.5	(75.3)%
As a % of revenue	0.8%	3.1%
Net income, group share	(60.7)	(15.8)	n.a.
Adjusted net income, group share **	(35.7)	1.9	n.a.
Free cash flow	15.0	40.2	n.a.

5.2 Trends and outlook

5.3 Financial indicators not defined by IFRS

Solutions30 | Annual Report 2025 205Free cash flow net (21.4) 5.9 n.a.

Financial structure figures (€ millions)
| | 31.12.2025 | 31.12.2024 | Change |
| :--- | :--- | :--- | :--- |
| Equity | 46.9 | 108.1 | (61.2) |
| Net debt | 99.6 | 73.8 | +25.8 |
| Net bank debt | 36.3 | 0.8 | 35.6 |

5 * In accordance with IFRS 5, the 2024 comparative data in the income statement have been restated to reflect the classification of the United Kingdom and the telecom business sold off in Spain as discontinued operations.
** Adjusted for “net income from discontinued operations” as reported in the group financial statements, as well as amortization of customer relations (group share) net of the associated tax impact, a purely accounting charge related to past acquisitions, with no cash impact and not related to tangible assets.

Solutions30 | Annual Report 2025 206

5.1.2 Change of scope

Solutions30 is the natural center of a highly fragmented market. Since 2021, given the general context, the Group slowed down its external growth strategy but made the following acquisitions in 2024 and 2025:

Country	Company	Consolidation date	Revenue at acquisition	Comment
France	Solutions 30 Solaire	April 18, 2024	€20 million	Operating in the energy segment in France. Solutions 30 Solaire, which is 10%-owned by the Group, acquired a 100% stake in the French company So- Tec. Solutions 30 Solaire has been accounted for by the equity method since that date.
Poland	Elektra Realizacje Sp. Zo.o.	July 23, 2025	€1 million	Operations focus on modernizing low- and medium-voltage electrical grids, a key business as Poland ramps up its green energy transition.

5.1.3 Performance analysis for 2025

5.1.3.1 Consolidated revenue

	12 months 2024	12 months 2025
Total	943.0	892.4
Organic growth of existing subsidiaries	(64.9)	—
Organic growth from acquired companies	—	14.2
Acquisitions	—	—
Total	943.0	892.4
Benelux	371.6	352.6
France	360.8	305.3
Germany	84.4	95.9
Other countries	126.2	138.7

Solutions30’s consolidated revenue for 2025 amounted to €892.4 million, down -5.4% compared to 2024 revenue restated to exclude the contribution from the United Kingdom and the divested telecom business in Spain, to reflect their classification as discontinued operations in accordance with IFRS 5. The Group exited these activities in 2025 in line with its strategy of selectivity and refocusing on its most promising markets. Organic growth stood at -6.9%, while acquisitions contributed +1.5%. The impact of foreign exchange was negligible. The change in revenue mainly reflects the contraction of the Connectivity business in France (15.3% of group revenue), impacted by a faster-than-expected slowdown in fiber deployments and by the selectivity measures implemented since 2024. Excluding the Connectivity business in France, Group revenue is up by 2.9% in 2025, reflecting the good performance across all its other businesses. In the fourth quarter, revenue amounted to €230.8 million, down ‑4.6% compared with 2024 (on a restated basis).

Adjusted EBITDA stood at €65.2 million in 2025, down ‑12.7% compared with 2024 (on a restated basis). The adjusted EBITDA margin was 7.3%, down 60 basis points compared to 2024. Improved margins in Benelux and the upturn in the Other Countries segment helped to mitigate the declines recorded in France and Germany.

The Group’s share of net income was ‑€60.7 million, after taking into account a loss of ‑€17.1 million from discontinued operations in the United Kingdom and in telecommunications in Spain. This amount includes both the current net income of these businesses and the exceptional impacts related to their exit. In accordance with IFRS 5, it is presented under “Net income from discontinued operations” in the consolidated income statement.

The Group had gross cash of €73.2 million at the end of December 2025. Net bank debt remained limited at €36.3 million at the same date, compared with €0.8 million a year earlier. This change includes a reduction in factoring of -€7.3 million.

Solutions30 | Annual Report 2025 207

1.3.2 Analysis by geographical segment

	2025	2024 restated*	Changes
Benelux
Revenue	352.6	371.6	(5.1)%
Adjusted EBITDA	44.4	37.1	+19.7%
Adjusted EBITDA margin %	12.6%	10.0%
France
Revenue	305.3	360.8	(15.4)%
Adjusted EBITDA	14.5	34.1	(57.5)%
Adjusted EBITDA margin %	4.8%	9.5%
Allemagne
Revenue	95.9	84.4	+13.6%
Adjusted EBITDA	6.1	9.4	(35.1)%
Adjusted EBITDA margin %	6.3%	11.2%
Autres pays
Revenue	138.7	126.2	+9.9%
Adjusted EBITDA	9.6	5.8	+65.5%
Adjusted EBITDA margin %	6.9%	4.6%
HQ**	(9.5)	(11.8)	(19.5)%
Revenue	892.4	943.0	(5.4)%
Adjusted EBITDA	65.2	74.6	(12.6)%
Adjusted EBITDA margin %	7.3%	7.9%

• In accordance with IFRS 5, comparative data for 2024 have been restated to reflect the classification of the United Kingdom and the telecom business sold off in Spain (“Other Countries” segment) as discontinued operations.
  ** Costs related to the Group’s centralized functions.

In the Benelux, revenue amounted to €352.6 million, with an organic decrease of ‐5.1%. The Connectivity business (76% of revenue), operated in an environment shaped by negotiations among Belgian telecom service providers aimed at mutualizing investments in fiber networks. Connectivity revenue nevertheless returned to growth in the fourth quarter, increasing by +5.0%, which limited the full-year decline to -4.8%, and is expected to continue performing well in 2026. The Energy business (17.2% of revenue) is down ‑6.2% as the ramp-up of electrical grid services under the Fluvius contract partially offset the maturing smart meter deployments activity. Lastly, revenue from Technology Solutions (6.5% of revenue) is down by ‐5.9%. Adjusted EBITDA for Benelux stood at €44.4 million, up significantly by 19.7%. This represents 12.6% of revenue, compared to 10.0% in 2024. This performance reflects the strength of the Group’s operational execution in the region, where market fundamentals remain robust. Margins, firmly anchored in double-digit territory, are expected to remain in line with the Group’s high standards in the Benelux region.

In France, revenue amounted to €305.3 million in 2025, down ‐15.4% (-19.1% organic). Amid a telecoms market deteriorating more sharply than expected, the Group continues to rationalize its Connectivity business (44.7% of revenue), down ‑34.6% over the year. Major initiatives have been launched in 2025 and will be reinforced in 2026, aimed at further reducing exposure to less profitable activities and completing the transformation of the Group’s operating model. By contrast, the Group continued to expand its Energy business (34.0% of revenue), which grew by 32.3%. This change includes the impact of the consolidation of So-Tec (+16.8%), in which Solutions30 now holds a 60% stake (see press release dated May 12, 2025). Momentum continues in renewable energy, where the Group, leveraging its leading position, is increasingly supporting its customers through turnkey projects. In addition, services to low- and medium-voltage electrical grids on behalf of Enedis delivered robust growth, supported in particular by scope expansions, notably in southern France. Lastly, the Technology business (21.3% of revenue) was 5 down ‑11.8%, mainly due to a high basis of comparison linked to projects for the Paris Olympics in 2024. Against this backdrop, adjusted EBITDA for France amounted to €14.5 million, representing a margin of 4.8%, compared with €34.1 million and 9.5% in 2024. The downturn in the telecoms market put significant pressure on the profitability of the Connectivity business. Structural actions undertaken in certain areas should produce their first effects in the second half of 2026. In addition, the Energy business posted higher margins; the ramp-up of this business should contribute to the gradual improvement in Solutions30’s profitability profile in France.

In Germany, revenue amounted to €95.9 million, a purely organic increase of 13.5%. The Group continued to ramp up its operations in this high-potential market. Nevertheless, the year was marked by a more uneven pace of fiber deployment than anticipated, in a market still undergoing structuring. This trend notably reflects longer administrative and operational lead times, as well as a more selective approach by service providers and investors to launching new projects. Coaxial network operations remain well-oriented, reflecting the quality of the Group’s execution in this segment. Against this backdrop, Germany’s adjusted EBITDA stood at €6.1 million, or 6.3% of revenue, compared with €9.4 million or 11.2% in 2024. The Group remains confident in the potential of the German market and continues to strengthen its positions with a disciplined approach.

In the Other Countries segment, the Group successfully completed its rationalization and refocusing actions undertaken in line with its roadmap. In 2025, this notably led to the Group’s withdrawal from the United Kingdom and the sale of the Connectivity business in Spain. At the same time, the Group redeployed its resources towards more promising businesses, particularly through the acquisition a majority stake in the Polish company Elektra Realizacje, which specializes in the modernization low- and medium-voltage electrical grids. Finally, in Italy, the turnaround has resulted in solid momentum in the fiber

Solutions30 | Annual Report 2025 208

activities and the gradual ramp-up of energy services, particularly in photovoltaics and in electric vehicle charging infrastructure. Overall, these actions have significantly improved the segment’s growth and margin profile. Excluding discontinued operations, revenue grew by 9.9% in 2025, to €138.7 million. The effects were even more pronounced at adjusted EBITDA level, which rose by 65.5% to €9.6 million, compared with €5.8 million in 2024. The adjusted EBITDA margin therefore reached 6.9%, an increase of 230 basis points compared to the previous year.## 5.1.3.3 Consolidated earnings

On the basis of adjusted EBITDA of €65.2 million in 2025, after accounting for operational depreciations and provisions of €25.3 million (compared to €13.4 million in 2024), and after amortization of the right-of-use assets (IFRS 16) for €32.6 million (compared to €31.8 million in 2024), the Group’s adjusted EBIT amounted to €7.3 million compared with €29.5 million in 2024. Operating income amounted to -€17.4 million, compared with €10.7 million in 2024. It includes:
* €15.2 million in non-current operating expenses (compared to €8.8 million in 2024), which mainly include costs associated with restructuring and headcount reductions undertaken by the Group, for €13.1 million, notably in the Connectivity business in France and in Spain.
* €11.6 million in amortization of customer relationships (€12.1 million in 2024). This charge, relating to past acquisitions, is purely accounting in nature, with no impact on cash flow and no relation to tangible assets.

The net financial expense amounted to -€13.9 million, a slight improvement on 2024 (-€15.2 million) due to a more favorable change in the value of earnouts, call and put options (€0.4 million in 2025 compared to €1.1 million in 2024). After recognizing a net tax expense of -€9.8 million, net income from continuing operations came to -€41.1 million (-€5.7 million in 2024). Discontinued operations in the United Kingdom and in telecommunications in Spain generated a net loss of €17.1 million in 2025. This amount includes both the current net income of these businesses and the exceptional impacts related to their exit. In accordance with IFRS 5, it is presented under “Net income from discontinued operations” in the consolidated income statement. After deducting minority interests of €2.5 million, the Group’s share of net income amounted to -€60.7 million, compared with -€15.8 million in 2024. Adjusted for the amortization of customer relationships net of tax and for the net result from discontinued operations, adjusted net income (Group’s share) amounted to -€35.7 million, compared with €1.9 million in 2024.

5.1.3.4 Cash flow

Note: the cash flow and balance sheet items presented below include the contribution of discontinued operations, which are isolated in the consolidated financial statements in accordance with IFRS 5.

The Group’s operating cash flow was €45.0 million in 2025, compared with €56.6 million in 2024, in line with changes to adjusted EBITDA. The change in working capital, restated for non-cash items, represents a negative flow of -€18.1 million. In particular, it reflects the evolution of the energy business mix towards a greater share of projects, with higher added value but longer billing cycles compared to call-out activities. In addition, the change in working capital includes a reduction in factoring of -€7.3 million. As a result, cash flow from operations in 2025 was €27.3 million, compared with €58.2 million in 2024. Net investments amounted to €11.9 million, or 1.3% of revenue, in line with their normative levels, and were mainly related to information systems and technical equipment. Overall, free cash flow amounted to €15.0 million in 2025, compared to €40.2 million in 2024. After taking into account changes in lease liabilities and related interest (IFRS 16), amounting to -€36.4 million, net free cash flow amounted to -€21.4 million, compared with €5.9 million in 2024. Taking into account earnout payments related to past acquisitions for -€3.1 million, acquisitions and disposals of the period for a amount net of cash acquired or disposed of -€1.2 million, interest payments of -€7.0 million, distributions to minority shareholders for -€2.4 million, the net change in bank borrowings of €12.3 million, and a -€0.2 million impact from exchange rates, the Group’s change in cash position amounted to -€23.0 million.

5.1.3.5 Financial structure

The Group’s gross cash position stood at €73.2 million at December 31, 2025. The Group also has available undrawn credit lines of €12 million. Gross bank debt amounted to €109.6 million, compared to €97.0 million at December 31, 2024, due to drawdowns on the Group’s bank credit facilities during the year. Thus, the Group had €36.3 million of net bank debt at the end of December 2025, compared to €0.8 million at the end of December 2024. After taking into account €57.3 million in lease liabilities (IFRS 16) and €6.0 million in potential financial debt related to earnouts and put options, the Group’s total net debt amounted to €99.6 million at the end of December 2025 (or 1.5 times 2025 adjusted EBITDA), compared to €73.8 million at the end of December 2024. It includes €61.4 million in receivables sold as part of the Group’s non-recourse factoring program, down €7.3 million year-on-year.

Given the uncertainties that continue to affect the Connectivity market in France, the Group has conducted an in-depth analysis of several potential trajectories for the future development of this activity. These analyses, prepared on the basis of prudent assumptions, cover different scenarios of future activity and allow an assessment of their potential implications for the Group’s operational performance and financial position. The work performed indicates that, across the various scenarios considered, the Group’s financial structure remains balanced, supported by positive operating profitability, a leverage ratio consistent with contractual commitments, and an ability to generate operational cash flows. As with any forward-looking exercise, these projections involve uncertainties that could affect the level of expected cash in 2026 and the Group’s ability to maintain its operations, particularly under the most unfavorable scenarios for the Connectivity activity. The operational adjustment measures that could be considered in such cases may have a significant impact on cash flows. To mitigate these risks, the Group has identified several levers that can be mobilized if necessary. In addition, starting in 2025, it initiated a series of actions aimed at strengthening operational efficiency, including cost-optimization measures, organizational transformation initiatives, and a targeted reallocation of resources. These initiatives contribute to mitigating the potential effects of the most adverse scenarios and to reinforcing the resilience of the Group’s operational model.

Solutions30 | Annual Report 2025 210

5.2 Outlook

In 2026, Solutions30 intends to pursue with determination the execution of its strategic roadmap, based on selectivity, operational discipline, and the gradual refocusing of its activities towards the most attractive segments. In a market environment that remains contrasted and more challenging than anticipated, the Group will focus its efforts on restoring profitability and cash generation, while continuing to develop its key growth drivers, particularly in energy and in Germany. In this context, the targets set for 2026 at the Capital Markets Day in September 2024 will be achieved over a more gradual timeline than originally envisaged. The rationalization and adaptation measures launched in 2025 will continue, with the objective of completing the Group’s repositioning, further advancing its diversification and, over time, sustainably improving its growth and margin profile. Building on its leading market positions and the successful transformations already underway in certain countries, Solutions30 enters 2026 with a clear roadmap and focused operational priorities.

Solutions30 | Annual Report 2025 211

5.3 Performance analysis for 2025

The Group uses financial indicators not defined by IFRS:
* Profitability indicators and their components are key operational performance indicators used by the Group to monitor and evaluate its overall operating earnings and earnings by country.
* Cash flow indicators are used by the Group to implement its investment and resource allocation strategy.

The non-IFRS financial indicators used are calculated as follows:

Organic growth includes the organic growth of acquired companies after they are acquired, which Solutions30 assumes they would not have experienced had they remained independent. In 2025, the Group’s organic growth included only the internal growth of its long-standing subsidiaries.

Adjusted EBITDA is the “operating margin” as reported in the Group’s financial statements.

Free cash flow corresponds to the net cash flow from operating activities less acquisitions of intangible assets; property, plant and equipment; and non-current financial assets.

Calculation of free cash flow:

In millions of euros	31.12.2025	31.12.2024 Restated
Net cash flow from operating activities	26.9	58.2
Acquisition and disposal of non- current financial assets	(12.1)	(18.6)
Acquisition of fixed assets related to discontinued operations	—	(0.3)
Disposal of non-current assets after tax	0.2	0.7
Free cash flow	15.0	40.2

Net free cash flow corresponds to free cash flow less “Repayment of lease liabilities,” “Repayment of lease liabilities for discontinued operations,” “Interest paid on lease liabilities,” and “Interest paid on lease liabilities for discontinued operations” as shown in the Group’s consolidated statement of cash flows.

Calculation of net free cash flow:

In millions of euros	31.12.2025	31.12.2024
Free cash flow	15.0	40.2
Repayment of lease liabilities	(32.9)	(30.0)
Repayment of lease liabilities related to discontinued operations	(0.4)	(1.1)
Interest paid on lease liabilities	(3.1)	(3.2)
Interest paid on lease liabilities related to discontinued operations	(0.1)	—
Free cash flow net	(21.4)	5.9

Adjusted EBIT corresponds to operating income as shown in the Group’s financial statements, to which “Customer relationship amortization” and “Other non-recurring operating expenses” are added and from which “Other non-recurring operating income” is deducted.

Solutions30 | Annual Report 2025 211Reconciliation between operating income and adjusted EBIT: In millions of euros

	2025	2024 Restated
Operating income	(17.4)	10.7
Customer relationship amortization	11.6	12.1
Other non-recurring operating income	(2.1)	(2.2)
Other non-recurring operating expenses	15.2	8.8
Adjusted EBIT	7.3	29.5
As a % of revenue	0.8%	3.1%

Non-recurring transactions include other income and expenses that are significant in their amount, unusual, and infrequent. Net debt corresponds to “Debt, long-term,” “Debt, short- term,” and long- and short-term “Lease liabilities” as they appear in the Group’s financial statements from which “Cash and cash equivalents” as they appear in the Group’s financial statements are deducted. Net debt-to-equity ratio corresponds to “Net debt/Equity.” Solutions30 | Annual Report 2025 212

Net debt: In millions of euros

	31.12.2025	31.12.2024
Bank debt	109.6	97.0
Lease liabilities	57.3	68.8
Future liabilities from earnouts and put options	6.0	4.1
Cash and cash equivalents	(73.2)	(96.3)
Net debt	99.6	73.8
Operating margin (Adjusted EBITDA)	65.2	74.6
Net debt ratio	1.53	0.99
Equity	46.9	108.1
% of net debt	212.3%	68.2%

Net bank debt corresponds to “Long-term loans from credit institutions” and “Short-term loans from credit institutions, lines of credit, and bank overdrafts” as they appear in note 10.2 of the Group’s annual financial statements from which are deducted “Cash and cash equivalents” as they appear in the Group’s financial statements. Cash net of bank debt corresponds to “Cash and cash equivalents” as it appears in the Group’s financial statements from which is deducted “Loans from credit institutions, long-term” and “Short-term loans from credit institutions, lines of credit, and bank overdrafts” as they appear in note 10.2 of the Group’s annual financial statements.

Net bank debt: In millions of euros

	31.12.2025	31.12.2024
Loans from credit institutions, long-term	76.9	74.3
Short-term loans from credit institutions, lines of credit, and bank overdrafts	32.6	22.7
Gross bank debt	109.5	97.0
Cash and cash equivalents	(73.2)	(96.3)
Net bank debt	36.3	0.8
Cash net of bank debt	(36.3)	(0.8)

Gross bank debt corresponds to “Loans from credit institutions, long-term” and “Short-term loans from credit institutions, lines of credit, and bank overdrafts” as they appear in note 10.2 of the Group’s annual financial statements. Working capital corresponds to “current assets” as reported in the Group’s financial statements (excluding “Cash and cash equivalents” and “Derivative financial instruments”) less “current liabilities” (excluding “Debt, short-term,” “Current provisions,” and “Lease liabilities”).

Working capital: In millions of euros

	31.12.2025	31.12.2024
Inventory and work in progress	22.9	24.7
Trade receivables and related accounts	240.9	219.5
Current contract assets	1.0	0.9
Other receivables	95.9	79.1
Prepaid expenses	3.4	6.1
Trade payables	(172.2)	(171.7)
Tax and social security liabilities	(166.4)	(143.4)
Other current liabilities	(20.7)	(21.0)
Other current liabilities	(53.9)	(56.8)
Working capital	(49.1)	(62.6)
Change in working capital	13.4	(15.6)
Non-monetary items	4.7	14.0
Change in working capital adjusted for non-monetary items	18.1	(1.6)

5 5 Net investments correspond to the sum of the lines “Acquisition of current assets,” “Acquisition of non-current assets related to discontinued operations,” “Acquisition of non-current financial assets,” and “Disposal of non-current assets after tax” as they appear in the consolidated statement of cash flows.

Net investments: In millions of euros

	31.12.2025	31.12.2024
Acquisition of non-current assets	(12.0)	(17.9)
Acquisition of fixed assets related to discontinued operations	—	(0.3)
Acquisition of non-current financial assets	(0.1)	(0.4)
Disposal of non-current assets after tax	0.2	0.7
Net investments	(11.9)	(17.9)

Operating costs correspond to costs incurred for the Group’s operations, included in the “operating margin” (excluding structural costs). Structural costs correspond to costs incurred by the Group’s head office functions in various countries, included in the “operating margin” (excluding operating costs). Expenses related to the Group’s centralized functions refer to costs incurred by the parent company’s headquarters functions and are included in the “operating margin.” Solutions30 | Annual Report 2025 213

6.1 CONSOLIDATED FINANCIAL STATEMENTS

Solutions30 | Annual Report 2025 214

CONTENTS

6.1 Consolidated Financial Statements 215
6.1.1 Consolidated statement of comprehensive income 215
6.1.2 Consolidated statement of financial position 217
6.1.3 Consolidated statement of equity 218
6.1.4 Consolidated statement of cash flows 219
6.2 Notes to the consolidated financial statements 221
1 Information on the company and the Group 221
2 Basis of preparation, judgments, and estimates 221
PERFORMANCE
3 Revenue 223
4 Employee costs and benefits 225
5 Operating income 226
WORKING CAPITAL
6 Trade and other receivables 228
7 Inventories 229
8 Other liabilities and reverse factoring 229
FINANCIAL STRUCTURE AND FINANCIAL RISK MANAGEMENT
9 Cash 230
10 Loans and related debts 230
11 Leases 232
12 Equity 233
13 Financial risk management 235
LONG-TERM ASSETS
14 Intangible assets and property, plant and equipment 238
15 Other non-current assets and investments in associates 241
OTHER
16 Contingent liabilities, provisions, and commitments 242
17 Income tax 244
18 Related parties 247
19 Auditors’ fees 248
20 Important events after the end of the reporting period 248
21 Scope of consolidation 248
6.3. Independent authorized auditor’s report 259

Solutions30 | Annual Report 2025 215

6.1 CONSOLIDATED FINANCIAL STATEMENTS

6.1.1 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

Net income (In millions of euros)	Notes	2025	2024 restated (1)
Revenue	3	892.4	943.0
Other current operating income	5.1	19.1	21.3
Raw materials, goods and consumables	5.1	(87.5)	(91.4)
Employee costs	4.2	(212.3)	(224.1)
Payroll taxes, taxes, duties, and similar payments		(60.6)	(61.1)
Other current operating expenses	5.1	(485.9)	(513.1)
Operating margin (Adjusted EBITDA)	5.1	65.2	74.6
Depreciation, amortization and impairment of fixed assets	11.1/14	(62.9)	(60.9)
Charges to and reversals of provisions	16	(6.6)	3.6
Other non-recurring operating income	5.2	2.1	2.2
Other non-recurring operating expenses	5.2	(15.2)	(8.8)
Operating income	5.2	(17.4)	10.7
Financial income	10.4	1.8	1.8
Financial expenses	10.4	(15.7)	(17.0)
Net financial income	10.4	(13.9)	(15.2)
Income taxes	17	(9.8)	(1.7)
Income from associates	15.2	—	0.4
Net income from continuing operations		(41.1)	(5.7)
Net income from discontinued operations	21.3	(17.1)	(9.4)
Consolidated net income		(58.3)	(15.1)
Group share		(60.7)	(15.8)
Minority interests	12.3	2.5	0.7
Basic earnings per share, group share (in euros)	12.2	(0.567)	(0.147)
Diluted earnings per share, group share (in euros)	12.2	(0.567)	(0.147)

1) In accordance with IFRS 5 provisions, the 2024 comparative data in the income statement have been restated to reflect the classification of the United Kingdom and the sale of the telecom business in Spain as discontinued operations (see note 21.3).

Solutions30 | Annual Report 2025 216

(In millions of euros)	2025	2024 restated (1)
CONSOLIDATED NET INCOME	(58.3)	(15.1)
Items recyclable or recycled to profit or loss:
Translation differences recognized in equity	0.3	(0.4)
Items not recyclable to profit or loss:
Change in actuarial gains and losses	0.7	0.3
Deferred taxed on changes in actuarial gains and losses	(0.2)	(0.1)
COMPREHENSIVE INCOME RECOGNIZED IN EQUITY	0.9	(0.1)
COMPREHENSIVE INCOME	(57.4)	(15.2)
Group share	(59.8)	(15.9)
Minority interests	2.5	0.7
1) In accordance with IFRS 5 provisions, the 2024 comparative data in the income statement have been restated to reflect the classification of the United Kingdom and the sale of the telecom business in Spain as discontinued operations (see note 21.3).

6 Solutions30 | Annual Report 2025 217

6.1.2 CONSOLIDATED STATEMENT OF FINANCIAL POSITION

Assets (In millions of euros)	Notes	31.12.2025	31.12.2024
Goodwill	14.1	58.9	56.7
Other intangible assets	14.2	71.5	100.7
Property, plant and equipment	14.3	18.9	23.8
Right-of-use assets	11.1	57.3	68.6
Non-current lease receivables	6.3	1.0	1.0
Investments in associates	15.2	—	0.6
Non-current financial assets	15.1	3.2	3.1
Deferred tax assets	17.2	23.1	28.5
NON-CURRENT ASSETS		234.0	283.0
Inventories	7.1	22.9	24.7
Trade receivables and related accounts	6.1	240.9	219.5
Current lease receivables	6.3	1.0	0.9
Other receivables	6.2	95.9	79.1
Prepaid expenses		3.4	6.1
Derivative financial assets	13.1	0.1	—
Cash and cash equivalents	9	73.2	96.3
CURRENT ASSETS		437.4	426.6
TOTAL ASSETS		671.4	709.6

Equity & Liabilities (In millions of euros)	31.12.2025	31.12.2024
Subscribed capital	13.7	13.7
Share premiums	17.4	17.4
Legal reserve	1.4	1.4
Consolidated reserves	57.4	76.1
Net income for the period	(60.7)	(15.8)
EQUITY, GROUP SHARE	12	29.1
Minority interests	12.3	17.8
EQUITY		46.9
Debt, long-term	10.2	79.8
Lease liabilities	11.2	31.8
Non-current provisions	16.1	25.4
Deferred tax liabilities	17.2	12.6
NON-CURRENT LIABILITIES		149.6
Debt, short-term	10.2	35.8
Derivative financial liabilities	13.1	0.1
Current provisions	16.2	0.3
Lease liabilities	11.2	25.4
Trade payables		172.2
Tax and social security liabilities	8.1	166.4
Other current liabilities		20.7
Deferred income		53.9
CURRENT LIABILITIES		474.9
TOTAL EQUITY & LIABILITIES		671.4

6 Solutions30 | Annual Report 2025 218

6.1.3 CONSOLIDATED STATEMENT OF EQUITY

(In millions of euros)	Capital	Share premium	Legal reserve	Group reserves	Cumulative translation adjustments	Equity, group share	Minority interests	Total equity
POSITION AT 01.01.2024	13.7	17.4	1.4	78.1	(0.4)	110.2	14.5	124.6
Net income for 2024	—	—	—	(15.8)	—	(15.8)	0.7	(15.1)
Income recognized in equity	—	—	—	0.2	(0.4)	(0.1)	—	(0.1)
Comprehensive income for 2024	—	—	—	(15.6)	(0.4)			(15.9) 0.7 (15.2) Distributions — — — — — — (1.3) (1.3) Other changes (1) — — (1.5) — (1.5) 1.5 — POSITION AT 31.12.2024 13.7 17.4 1.4 61.1 (0.8) 92.8 15.3 108.1 2025 Results — — — (60.7) — (60.7) 2.5 (58.3) Income recognized in equity — — — 0.6 0.3 0.9 — 0.9 Comprehensive income for 2025 — — — (60.1) 0.3 (59.8) 2.4 (57.4) Distributions — — — — — — — — Changes in scope of consolidation (2) — — — (1.2) — (1.2) 2.7 1.5 Other changes (2) — — — (2.9) — (2.9) (2.7) (5.6) POSITION AT 31.12.2025 13.7 17.4 1.4 (2.9) (0.4) 29.1 17.8 46.9

(1) The decrease in Group reserves of €1.5 million in 2024, offset by an increase in minority interests of the same amount, is linked to the decision not to exercise the put option on 20% of the capital of the Italian company Algor.
(2) Change in scope: The ‑€1.2 million decrease in Group reserves corresponds to the acquisition of the remaining 24% of the Dutch company Solutions30 Projects (see note 21.1) of which €0.4 million was paid on the date of the transaction and €0.8 million is payable within 12 months. The €2.7 million increase in minority interests in 2025 reflects the recognition of their share in equity upon gaining control of Solutions 30 Solaire (€2.6 million) and Elektra Realizacje (€0.1 million) (see Note 21.2). The recognition of put options granted to non-controlling shareholders of Solutions 30 Solaire and Elektra Realizacje results in a decrease in minority interests of €2.7 million and a decrease in Group retained earnings of €2.9 million (see Note 10.3).

Solutions30 | Annual Report 2025 219

6.1.4 CONSOLIDATED STATEMENT OF CASH FLOWS

(In millions of euros)

Notes	2025	2024 restated (1)
CONSOLIDATED NET INCOME	(58.3)	(15.1)
Net income, group share	(60.7)	(15.8)
Net income, minority interests	12.3	2.5
0.7 Non-monetary from continuing operations:
Depreciation, amortization and impairment	11.1/14	62.9
Allocations to provisions	6.6	(3.6)
Elimination of deferred taxes	17.2	2.2
Elimination of current taxes	17.1	7.6
Elimination of income from associates		—
Share-based payment	4.3/5.2	0.2
Change in non-current lease receivables	6.3	(0.1)
Change in fair value of derivatives	10.3	(0.3)
Change in fair value of options and earnouts	10.3	(0.4)
Elimination of interest expenses	10.4	10.6
Net loss on change in scope	21.4	0.1
Revaluation of pre-existing interest in associates	21.2	(0.7)
Non-monetary items from discontinued operations:
Depreciation, amortization and impairment from discontinued operations	12.8	3.8
Allocations to provisions for discontinued operations		(0.1)
Change in deferred taxes for discontinued operations		(2.6)
Elimination of interest expenses for discontinued operations		—
Net loss on changes in scope for discontinued operations	21.3	4.3
Operating cash flow from consolidated companies		45.0
Change in working capital requirements for operations		(18.1)
Components of continuing operations:
Decrease (increase) in inventory		0.8
Increase in trade receivables and related accounts and other receivables		(22.8)
Decrease (increase) in trade & other payables		4.6
Changes in other receivables and debts		10.1
Corporate tax paid		(9.3)
Components of discontinued operations:
Change in working capital requirements related to discontinued operations		(1.4)
Net cash flows from operating activities		26.9
Of which, cash flows related to continuing operations		32.3
Of which, cash flows related to discontinued operations		(5.5)
CASH FLOW FROM INVESTING ACTIVITIES
Components of continuing operations:
Acquisition of non-current assets	14.2/14.3	(12.0)
Acquisition of associate companies	15.2	—
Acquisitions of subsidiaries, net of cash received	21.2	(1.7)
Acquisitions of minority interests and earnouts paid	10.3 / 6.1.3	(3.1)
Disposals of subsidiaries, net of cash transferred	21.4	—
Disposal of associates		—
Acquisition and disposal of non-current financial assets		(0.1)
Disposal of non-current assets after tax	14.2/14.3	0.2
Components of discontinued operations:
Acquisition of fixed assets related to discontinued operations		—
Disposals of subsidiaries, net of cash transferred due to discontinued operations	21.3	0.5
Net cash flow from investing activities		(16.2)
Of which, cash flows related to continuing operations		(16.6)
Of which, cash flows related to discontinued operations		0.5

6 Solutions30 | Annual Report 2025 220
(In millions of euros)

Notes	2025	2024 (1)
CASH FLOW FROM FINANCING ACTIVITIES
Components of continuing operations:
Distributions paid to minority shareholders		(2.4)
Loan issuance	10.2	24.5
Loan repayment	10.2	(12.2)
Interest paid on borrowings		(7.0)
Debt issuance costs		—
Repayment of lease liabilities	11.2	(32.9)
Interest paid on lease liabilities	11.2	(3.1)
Components of discontinued operations:
Loan repayment related to discontinued operations		—
Interest paid on borrowings related to discontinued operations		—
Repayment of lease liabilities related to discontinued operations		(0.4)
Interest paid on lease liabilities related to discontinued operations		(0.1)
Net cash flow from financing activities		(33.5)
Of which, cash flows related to continuing operations		(33.0)
Of which, cash flows related to discontinued operations		(0.5)
Impact of currency exchange rate fluctuations on continuing operations		0.5
Impact of currency exchange rate fluctuations on discontinued operations		(0.7)
NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS		(23.0)
Opening cash balance		96.3
Closing cash balance		73.2

6 Solutions30 | Annual Report 2025 221

6.2 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS NOTES

Note 1: Information on the company and the Group

1.1 Information

The consolidated financial statements of Solutions30 SE and its subsidiaries (collectively, the “Group”) for the year ended December 31, 2025, were closed by the Management Board and approved by the Supervisory Board on March 30, 2026. Solutions30 (the “Company” or the “parent company”) is a European company incorporated and domiciled in the Grand-Duchy of Luxembourg with shares listed in Compartment C on the Euronext Paris exchange. Its registered office is located at: 21, rue du Puits Romain L-8070 Bertrange, Grand Duchy of Luxembourg The Group is mainly involved in providing support services for new digital technologies, and assists its customers with the implementation of these new technologies throughout Europe: telecom service providers, energy suppliers, IT and digital equipment manufacturers and distributors, managed service companies, and digital equipment integrators. Solutions30 currently covers the whole of France, Italy, Germany, the Netherlands, Belgium, Luxembourg, the Iberian Peninsula, and Poland. Information on the Group’s structure is provided in Note 21.

Note 2: Basis of preparation, judgments, and estimates

2.1 Standards applied

2.1.1 Compliance statement

Pursuant to EU regulation No. 1606/2002, the consolidated financial statements for the Solutions30 Group were prepared in accordance with International Financial Reporting Standards (IFRS) as adopted by the European Union$^{1}$ and applicable at the end of the reporting period, i.e. December 31, 2025.

2.1.2 2024 Comparative Data

In accordance with IFRS 5, the 2024 comparative data have been restated to reflect the classification of the United Kingdom and the sale of the telecom business in Spain as discontinued operations (see note 21.3).

$^{1}$ More information available on the European Commission’s website: http://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02002R1606-20080410

2.2 New IFRS, amendments, and interpretations

The accounting principles used to prepare the financial statements as of December 31, 2025, are consistent with those used for the financial statements as of December 31, 2024, except for the adoption of new standards effective January 1, 2025. As of December 31, 2025, the Group has not proactively adopted any standard, interpretation, or amendment that has been published by the IASB and adopted by the European Union but has not yet come into effect. An amendment applies for the first time from January 1, 2025, but has no material impact on the Group’s consolidated financial statements at December 31, 2025:
■ Amendments to IAS 21 “The Effects of Changes in Foreign Exchange Rates” (published on August 15, 2023).

Standards, amendments, and interpretations of standards published by the IASB, adopted by the European Union $^6$ and applicable after December 31, 2025:
■ Amendments related to the classification and measurement of financial instruments (amendments to IFRS 9 and IFRS 7, published on May 30, 2024), applicable for accounting periods beginning on or after January 1, 2026. The Group does not expect these amendments to have any material impact on the consolidated financial statements.
■ Volume 11 amendments related to “Annual Improvements to IFRS Accounting Standards” (published on July 18, 2024). This volume contains amendments to five standards as part of the IASB’s annual improvements project. These changes will take effect for fiscal years beginning on or after January 1, 2026. The Group does not expect this to have any material impact on the consolidated financial statements.
■ “Renewable Electricity Contracts” amendments (amendments to IFRS 9 and IFRS 7 published on December 18, 2024), applicable for accounting periods beginning on or after January 1, 2026. This standard relating to physical delivery contracts for renewable energy purchases has had no impact, as no Group operations were concerned.# ■ IFRS 18 “Presentation and Disclosure in Financial Statements” was published on April 9, 2024. This standard replaces IAS 1 and is designed to facilitate financial performance comparability. IFRS 18 provides an overview of the financial statements (balance sheet, income statement, statement of changes in shareholders’ equity) and the information to be provided in the notes. It will apply to fiscal years beginning on or after January 1, 2027. IFRS 18 will have an impact on the presentation of financial statements, particularly the income statement. An in- depth analysis of the impact of applying this standard is currently underway. Solutions30 | Annual Report 2025 222

Standards, amendments to standards, and interpretations of standards published by the IASB but not adopted by the European Union. The impacts on the financial statements of texts published by the IASB at December 31, 2025, and not in force in the European Union are discussed below:

• ■ IFRS 19 applicable to “Subsidiaries without Public Accountability: “Disclosure of Information” was published by the IASB on May 9, 2024, along with an amendment on August 21, 2025. This standard is not applicable to the Group insofar as none of its consolidated subsidiaries publishes separate IFRS financial statements or falls within the scope defined by the IASB.
• ■ The amendments to IAS 21 “The Effects of Changes in Foreign Exchange Rates” were published by the IASB on November 13, 2025. They specify the procedures for converting financial statements when an entity uses a reporting currency belonging to a hyperinflationary economy, as defined by IAS 29. This standard is not applicable to the Group as none of its consolidated subsidiaries operate in a hyperinflationary economy.

2.3 Basis of preparation

Management assessed the Group’s ability to continue as a going concern for at least the next 12 months, in accordance with IAS 1 requirements related to the going concern principle, taking into account the losses recognized in 2025 as well as the decrease in cash. Although the Group is not directly affected by current economic uncertainties (namely the war in Ukraine, U.S. tariff measures, or tensions in energy prices), the market environment for the Connectivity business in France and Germany remains uncertain. In France, a tender process has been initiated by one of the Group’s main customers, and in Germany, the rollout of fiber is progressing more slowly than expected.

In this context, Management has analyzed several business development scenarios, based on prudent assumptions. These scenarios notably consider various possible trajectories for the Connectivity business in France and confirm that the Group’s financial structure remains compatible with the application of the going concern principle. These projected trajectories and their financial implications, both in terms of earnings and cash flow generation, indicates positive operating profitability, a level of leverage in line with contractual commitments, and an ability to generate operating cash flows. However, as with any projection, these forecasts incorporate uncertainties. In the event they were all to materialise simultaneously, there would be a significant risk that the going concern assumption could be compromised.

To mitigate these risks, Management has also identified several available levers and has already initiated, as from 2025, a number of turnaround measures, including the implementation of cost optimization initiatives and operational transformation actions. Considering these factors, management believes that the assumptions used in preparing the consolidated financial statements are appropriate. At December 31, 2025, the financial statements were prepared on a of going concern basis. The consolidated financial statements are presented in millions of euros, which is the parent company’s reporting currency and functional currency, and rounded to the nearest thousands.

2.4 Accounting principles, accounting judgments and estimates

Accounting principles:

The accounting principles are presented within each note.

Accounting judgments and estimates:

The preparation of consolidated financial statements in accordance with IFRS requires the use of certain critical accounting estimates and assumptions. Management is also required to exercise its judgment in applying the Group’s accounting policies. Actual earnings may prove significantly different from these estimates based on different assumptions or conditions and, if necessary, a sensitivity analysis can be performed if it is material.

Accounting judgments:

• Derecognition of assigned receivables (See note 6.1).
• Reverse factoring (See Note 8.2).
• Recognition of corporate value-added levy (CVAE) (See Note 17).
• Discontinued operations (See note 21.3)

Estimates:

• Evaluation of contract assets (See note 6.1).
• Commitments to purchase minority interests (See Note 10.3).
• Determining maturities of leases with extension or termination options (See Note 11).
• Evaluations used for impairment tests (See note 14.1).
• Evaluation of pension liabilities (See note 16.3).
• Deferred tax assets on tax loss carryforwards (See note 17).

Solutions30 | Annual Report 2025 223

PERFORMANCE

Basis of preparation for segment reporting

Changes in segment reporting:

Following the liquidation of the United Kingdom and the sale of the telecom business in Spain (see note 21.3), and their presentation as discontinued operations in accordance with IFRS 5, the presentation of the “Other Countries” segment for Spain and the United Kingdom has been adjusted in the segment information as follows:

• In the income statement, the contribution from the United Kingdom to the Group’s income, from January 1 to November 11, 2025, as well as that of the telecom business in Spain, from January 1 to December 19, 2025, are presented separately and in aggregate on the line “Net income from discontinued operations.”
• In accordance with IFRS 5, the income statement data for 2024 have been restated to allow for comparability of the periods presented.

Definition of operating segments and performance indicators

In line with the principles of IFRS 8, Solutions30’s segment reporting is presented by geographical segment, in accordance with the internal management data used by the Group Management Board. The breakdown by geographic segment reflects the Group’s organizational and operating model. Decisions on Solutions30 resource allocation and performance evaluation are made by the Management Board and the Executive Committee at the operating segment level, which corresponds to the Group’s various geographic areas. Belgium, the Netherlands, and Luxembourg have been grouped into a single operating segment, as this reflects the organizational and operating model of this geographic area.

The indicators monitored are as follows:

• Revenue (note 3).
• Operating margin (Adjusted EBITDA) (note 5.1): The 6 main indicator of group operating profitability is the operating margin (Adjusted EBITDA). It corresponds to operating income before depreciation, amortization, and provisions, income from the sale of holdings, and other non-recurring operating income and expenses.

(In millions of euros)	2025	Benelux	France	Germany	Other Countries	HQ*
Revenue	892.4	352.6	305.3	95.9	138.7	—
Operating margin (Adjusted EBITDA)	65.2	44.4	14.5	6.1	9.6	(9.5)
Operating margin (Adjusted EBITDA) as a %	7.3%	12.6%	4.8%	6.3%	6.9%	—

(In millions of euros)	2024 restated	Benelux	France	Germany	Other Countries	HQ*
Revenue	943.0	371.6	360.8	84.4	126.2	—
Operating margin (Adjusted EBITDA)	74.6	37.1	34.1	9.4	5.8	(11.8)
Operating margin (Adjusted EBITDA) as a %	7.9%	10.0%	9.5%	11.2%	4.6%	—

• Costs related to the Group’s centralized functions

Note 3: Revenue

The Group generates revenue by providing digital equipment installation and maintenance services. The Group recognizes revenue when it transfers control of a product or service to the customer. The revenue amount represents the consideration the Group expects to receive under a contract with a customer.

The Group is active in three business sectors:

1. Connectivity: which includes telecoms services: (i) Connection to ADSL or fiber networks, as well as associated maintenance activities. (ii) Roll-out of fiber and mobile networks, which involves performing studies for telecom service providers to define, prepare, and plan for the work needed to deploy the fiber.
2. Energy: which primarily corresponds to modernization work on energy networks, as well as the installation and maintenance of technologies related to the energy transition, such as smart electric meters, charging stations for electric vehicles, or photovoltaic panels.
3. Technology: which includes electronic payment solutions and IT services: (i) Repair services, support and maintenance for digital hardware and equipment (the Internet of Things and security equipment). (ii) Electronic payment terminal (EPT) rentals for small businesses, which involves an EPT rental agreement and the provision of associated services (EPT installation, hotline, and maintenance).

The Group enters into two types of contracts:

1. On-site services: On-site services and call-outs are the main source of group revenue. Solutions30 technicians provide on- site installation and maintenance services based on standardized work orders submitted by customers. Revenue is recognized when work orders are successfully placed, based on a contractual rate set for each type of call-out. When contracts include a bonus/malus mechanism, the impact on revenue is determined based on reaching certain thresholds and on service provision times. The underlying performance indicators are measurable and can be reliably estimated at the end of each reporting period.
2. Projects: Customers may commission the Group to design and build communication networks or electrical installations.

Solutions30 | Annual Report 2025 224For these contracts, revenue is recognized as the work is completed, based on project progress. This work in progress is evaluated using the ratio between contract costs incurred at the end of the reporting period and estimated total contract costs. When it is probable that total contract costs will exceed total contract income, the expected loss is immediately recognized as a provision for loss on completion. Contract assets, invoices to be issued, or deferred income are recognized when invoicing does not reflect project progress.

1. Leasing of digital equipment: As part of its electronic payment business, the Group signs lease contracts with merchants for periods of 1 to 4 years, including: (i) the provision of payment solutions and (ii) support services (helpdesk support, on-site intervention, hardware exchange). For this activity, the Group distinguishes between two distinct performance obligations: (i) Providing payment solutions: revenue recognition occurs when control of such equipment is transferred, on the date the equipment is delivered. The estimate of the recognized price for the delivery of the equipment is based on the purchase price of the equipment to which a margin is added.

6 (ii) Support services: revenue is recognized over the term of the contract. The estimated price for this service is based on the total value of the contract less the price for supplying the equipment. The breakdown of the Group’s revenue from contracts with customers by activity type is as follows:

(In millions of euros) | Benelux | France | Germany | Other | Total
| :--- | ---: | ---: | ---: | ---: | ---:
2025 | | | | |
On-site services | 352.6 | 301.5 | 95.9 | 138.7 | 888.6
Connectivity | 268.7 | 136.6 | 90.9 | 113.4 | 609.6
Energy | 60.8 | 103.7 | 4.9 | 10.6 | 180.1
Technology | 23.1 | 61.2 | — | 14.7 | 98.9
Leasing of payment terminals | — | 3.8 | — | — | 3.8
Technology | — | 3.8 | — | — | 3.8
Total revenue from contracts with customers | 352.6 | 305.3 | 95.9 | 138.7 | 892.4

(In millions of euros) | Benelux | France | Germany | Other | Total
| :--- | ---: | ---: | ---: | ---: | ---:
2024 restated | | | | |
On-site services | 371.6 | 356.9 | 84.4 | 126.2 | 939.2
Connectivity | 282.2 | 208.8 | 80.0 | 108.8 | 679.9
Energy | 64.8 | 78.4 | 4.4 | 5.4 | 153.0
Technology | 24.5 | 69.8 | — | 12.0 | 106.3
Leasing of payment terminals | — | 3.9 | — | — | 3.9
Technology | — | 3.9 | — | — | 3.9
Total revenue from contracts with customers | 371.6 | 360.8 | 84.4 | 126.2 | 943.0

Over the last few years, Solutions30 has entered into large contracts to roll out fiber-optic connections in Europe and to install high-tech equipment for the Energy sector. A significant portion of the Group’s revenue is therefore generated by working with major “key account” type customers. The Group’s commercial relationships with these customers are structured as several contracts organized by geographic zone, by business, or by end-user category.

Solutions30 | Annual Report 2025 225

The Group’s main customers are telecom service providers (Orange, Telenet, Wyre, Proximus, Fiberklaar, Unifiber, Free, Vodafone, Open Dutch Fiber, etc.) and energy companies (Fluvius, Q Energy, Enedis, GRDF, etc.). In 2025, two customers generated more than 10% of the Group’s revenue individually; they represent total revenue of €262 million, i.e. 29.4% of revenue. In 2024, only one customer individually contributed more than 10% of group revenue. This customer represented total revenue of €178 million, or 18.9% of revenue. A tender has been issued by one of the Group’s major clients for the renewal of an expiring contract. As of the closing date for the financial statements, the selection process was still in progress.

(In millions of euros) | 2025 | | | | |
Customers by revenue | Benelux | France | Germany | Other | Total | %
Customer A | 1.8 | 117.6 | — | 49.7 | 169.2 | 19.0%
Customer B | 93.1 | — | — | — | 93.1 | 10.4%
Other customers representing less than 10% of revenue | 257.6 | 187.6 | 95.9 | 88.9 | 630.1 | 70.6%
Total revenue | 352.6 | 305.3 | 95.9 | 138.7 | 892.4 | 100%

(In millions of euros) | 2024 restated | | | | |
Customers by revenue | Benelux | France | Germany | Other | Total | %
Customer A | 1.8 | 133.4 | — | 43.1 | 178.3 | 18.9%
Other customers representing less than 10% of revenue | 369.8 | 227.4 | 84.4 | 83.1 | 764.8 | 81.1%
Total revenue | 371.6 | 360.8 | 84.4 | 126.2 | 943.0 | 100%

6 Note 4 : Employee benefits and costs

4.1 Workforce

The workforce at the end of the year was:

Workforce	31.12.2025	2024 restated
Managers	447	505
Employees, technicians, supervisors	5,180	5,552
TOTAL	5,627	6,057

4.2 Employee costs

The “Employee costs” item consists of:

(In millions of euros)	2025	2024 restated
Wages and salaries	(212.3)	(224.1)
TOTAL	(212.3)	(224.1)

Payroll taxes on salaries are included in the “Payroll taxes, taxes, and similar payments” item in the statement of comprehensive income.

4.3 Share-based payment

■ General principles of IFRS 2

Grants of equity instruments (warrants, free shares, stock options, etc.) as compensation for services rendered or to be rendered are covered by IFRS 2. The fair value determined at the grant date for equity- settled share-based payments is recognized on a straight- line basis over the vesting period. At each reporting date, the Group revises its estimate of the number of equity instruments that are expected to vest as a result of the effect of non-market vesting conditions. The impact of initial estimate revisions, if applicable, is recognized under net income such that cumulative expenses reflect the revised estimates, with a corresponding adjustment to reserves.

■ Instruments issued by Solutions30 covered by IFRS 2

Share-based instruments were issued in 2025.

Stock option plan: A long-term incentive plan was defined by the Nominations and Remunerations Committee and approved by the Solutions30 | Annual Report 2025 226 Supervisory Board. On March 31, 2025, plan beneficiaries received stock options, granting them the right to purchase group shares at an exercise price of €1.29 per share, contingent upon meeting multi-year performance goals. The final allocation of stock options under the incentive plan is based on the achievement of the following quantified objectives for 2025, 2026, and 2027: Revenue / Adjusted EBITDA / Free cash flow / Relative share price performance. These financial indicators are further adjusted by a coefficient tied to the Group’s non-financial performance, evaluated against ESG (Environmental, Social, and Governance) criteria. To date, the maximum number of shares available for all stock options granted under the incentive plan amounts to 3,903,828. The options will be settled in shares of the company, i.e. an equivalent number of shares corresponding in value to the difference between the share price on the exercise date and the exercise price. These instruments may not be exercised until at least one year after they have been allocated.

The following table presents the details of the stock options outstanding during the year:

Number of stock options	Exercise price
Unexercised stock options outstanding at January 1, 2025	0
Stock options granted	4,087,778
Canceled stock options	-183,950
Expired stock options	—
Exercised stock options	—
Outstanding stock options at December 31, 2025	3,903,828
Stock options that can be exercised at December 31, 2025	—

6 The following table presents the input data for the Black Scholes and Monte Carlo models used to determine the fair value of options:

	2025
Share price at grant date	1.53
Exercise price	1.29
Expected volatility	63.8%
Expected duration (in years)	3.75
Risk-free rate	2.5%
Average comparable performance over the period	6.76%
Number of simulated trajectories	10,000

The fair value of the stock option plan at the grant date was €1.1 million. The fair value of stock options is recognized as an expense over the vesting period (2025, 2026, 2027) and the lock-up period (2028). The Group considers the lock- up period to reflect the actual period of service expected, since performance or presence is implicitly required until the stock options are exercised. The Group reported an expense of €0.2 million in 2025 (€0 million in 2024) in respect of share-based payment transactions, which is presented under “Other non-recurring operating expenses” (see note 5.2).

Note 5: Operating income

5.1 Operating margin (Adjusted EBITDA)

The item “Raw materials, goods and consumables” mostly accounts for the purchase of fuel, goods, small equipment, and other supplies necessary for call-outs. This item amounted to -€87.5 million in 2025 (-€91.4 million in 2024). Details of the item “Other current operating income and expenses” are given below:

(In millions of euros)	2025	2024 restated
Production subsidies	0.8	2.2
Other current operating income	18.4	19.0
Other current operating income	19.1	21.3
Outsourcing	(369.5)	(384.9)
Travel and vehicle maintenance expenses and rental costs	(38.3)	(44.1)
Intermediaries and fees	(39.8)	(44.4)
Other purchases and current operating expenses	(38.2)	(39.8)
Other current operating expenses	(485.9)	(513.1)
TOTAL	(466.7)	(491.9)

Other current operating income consists of operating subsidies that cover the costs resulting from new business offerings brought on by Telenet in Belgium, income from related activities, and various income related to making hardware available and to rebilling of operating expenses. Other purchases and current operating expenses include insurance costs, telecommunication costs, and office overheads.

5.2 Operating income

Operating income is calculated by adding or subtracting the operating margin (adjusted EBITDA), charges to and reversals of provisions, depreciation, amortization and impairment, and other non-recurring operating income and expenses.

■ Other non-recurring operating income and expenses.

Other non-recurring operating income and expenses include items that the Group considers as having a significant, one-time impact on operational performance during the accounting period. The Group believes that classifying these as non-recurring income and expenses improves the readability of its operations’ intrinsic economic performance.

Solutions30 | Annual Report 2025 227Details of other non-recurring operating income and expenses are provided below: (In millions of euros)

	2025	2024 restated
Other non-recurring operating income	2.1	2.2
Other non-recurring operating expenses	(15.2)	(8.8)
TOTAL	(13.1)	(6.6)

6 Non-recurring operating income for 2025 results from the conclusion of the sale initiated in Spain. This agreement eliminated risk and had a favorable financial impact (€2.1 million). Non-recurring operating income for 2024 reflects the end of the negotiations in Italy to reach a new agreement with Solutions30 Italia SRL’s main customer and suppliers. The agreement reached resulted in the extinction of the risk and a favorable financial impact (€2.2 million).

Non-recurring operating expenses for 2025 amounted to €15.2 million. These mainly include restructuring costs related to proceedings initiated in Spain and Italy (€1.4 million) and workforce reduction plans implemented by the Group (€11.7 million), a write-down of trade receivables following a partner’s cessation of operations (€1.2 million), and expenses associated with the closure of Xperal’s operations (€0.8 million). In 2024, non-recurring operating expenses primarily consisted of restructuring costs related to the Group’s portfolio optimization strategy in segments where certain contracts no longer met profitability requirements (€7.8 million). They also include expenses linked to a project to restructure the Group’s IT infrastructure in 2024, entailing a one-off additional cost (€1 million).

Solutions30 | Annual Report 2025 228

WORKING CAPITAL

Note 6: Trade and other receivables

6.1 Trade receivables and related accounts

• Trade receivables and related accounts Trade receivables and related accounts are current financial assets. Invoices to be issued correspond to a situation where a service has been performed, work has been completed, but the invoice has not yet been issued at the balance sheet date.
• Contract assets Amounts related to contract assets represent amounts due from customers under performance contracts that are settled depending on the stage of production. A contract asset is thus recognized over the period in which the services are provided to represent the Group’s right to receive consideration in exchange for the services it has provided up to that date. When it is probable that total contract costs will exceed total contract income, the expected loss is immediately recognized as a provision for loss on completion. Any amount initially recognized as a contract asset is subsequently reclassified to trade receivables when billed to the customer.
• Factoring trade receivables A financial asset must be derecognized i.e. removed from the consolidated statement of financial position if the Group transfers to a third party, through a contract, its right to receive future cash flows derived from this asset and the risks and rewards of owning this asset. To reduce its working capital requirements, the Group has put in place a non-recourse factoring program. In the context of such an agreement, receivables for which risks and benefits have been transferred are not maintained under the “Trade receivables and related accounts” item of financial position. The total amount of assigned, and therefore deconsolidated, receivables amounted to €61.4 million at December 31, 2025 (€68.7 million at December 31, 2024).
• Depreciation of trade receivables and related accounts 6 Given the nature of the Group’s customers, mainly composed of major corporations, as well as the factoring system put in place, the impairment model defined by IFRS 9 has no material impact on the amount of impairment of the Group’s trade receivables and related accounts.

(In millions of euros)	31.12.2025	31.12.2024
Trade receivables	80.1	74.3
Invoices to be issued	100.1	105.0
Contract assets	50.9	28.9
Trade payables - advances and down payments	9.9	11.4
TOTAL	240.9	219.5

In 2025, the Group posted a €0.6 million (€0.81 million in 2024) write-down of its trade receivables. All trade receivables and related accounts are due in less than one year.

6.2 Other receivables

Details of Other receivables are presented below:

(In millions of euros)	31.12.2025	31.12.2024
Tax claims	57.3	47.0
Tax receivables	11.5	9.0
Social security receivables	11.4	10.9
Other receivables	16.7	12.5
GROSS TOTAL	96.9	79.4
Impairments	(1.0)	(0.3)
NET TOTAL	95.9	79.1

Tax claims mainly include VAT receivables related to group transactions.

Solutions30 | Annual Report 2025 229

Other receivables consist mainly of guarantees granted under the factoring programs at December 31, 2024 and 2025.

6.3 Lease receivables

Lease receivables relate to the lease contracts for payment terminals (Note 11) marketed by the Group. The Group recognizes the lease service as a sale when the lease begins in exchange for an asset. This asset is represented under the item “Current lease receivables” if the cash flow associated with this asset is expected to occur within 12 months of the end of the financial year or under “Non-current lease receivables” if the corresponding cash flow is expected to occur beyond a 12-month period. At December 31, 2025, lease receivables stood at €2.0 million (2024: €1.9 million).

6

Note 7: Inventories

Inventories are recorded at their acquisition cost. If the net realizable value of inventories at the balance sheet date is lower than their acquisition cost, the inventory valuation is adjusted on the basis of the latter. Inventory details are presented below:

(In millions of euros)	Gross values	Amortization and impairments	31.12.2025 Net values	31.12.2024 Net values
Raw materials and goods	23.8	(0.9)	22.9	24.7
TOTAL	23.8	(0.9)	22.9	24.7

Inventory of raw materials and goods primarily corresponds to spare parts used for maintenance operations, or consumables used for installation operations. Cost is determined using the weighted average unit cost method.

Note 8: Other liabilities and reverse factoring

8.1 Tax and social security liabilities

Details of tax and social security liabilities are presented below:

(In millions of euros)	31.12.2025	31.12.2024
Tax liabilities	87.3	71.3
Social security liabilities	68.2	62.1
Corporate income tax	10.9	10.1
TOTAL	166.4	143.4

Social debts include all debts owed to employees (salaries, holidays, etc.) and to social organizations (payroll charges). Tax liabilities mainly include VAT payables related to group transactions.

8.2 Reverse factoring

The Group has set up two types of reverse factoring agreements:

• A supplier invoice financing solution without modifying the initial payment term was used in the amount of €8.6 million as of December 31, 2025 (€8.6 million paid to suppliers).
• A supplier invoice financing solution with a possible extension of payment terms to 120 days was used in the amount of €7.6 million as of December 31, 2025 (€7.6 million paid to suppliers).

Only this second type of agreement has an impact on the maturity of supplier debt. The Group classifies liabilities arising from these supplier financing agreements under “Trade payables” as these liabilities are similar in nature and function to trade payables. These supplier financing agreements form part of the working capital used in the Group’s normal operating cycle, and the level of collateral provided is similar to trade payables. Cash flows relating to liabilities arising from these supplier financing agreements are included in operating activities in the consolidated statement of cash flows under “Increase (decrease) in trade & other payables.”

Solutions30 | Annual Report 2025 230

FINANCIAL STRUCTURE AND FINANCIAL RISK MANAGEMENT

Note 9: Cash and cash equivalents

Cash and cash equivalents recognized in the balance sheet include cash in the bank and on hand, along with short-term monetary investments with maturities of less than three months and a negligible risk of value fluctuation. The Group’s net cash position is as follows:

(In millions of euros)	31.12.2025	31.12.2024
Money market	0.5	0.5
Cash and cash equivalents	72.7	95.7
TOTAL	73.2	96.3

Note 10: Loans and related debts

10.1 Important facts

On November 19, 2024, the Group finalized a credit financing agreement with a syndicate of eight banks. This €120 million, seven-year financing arrangement, with a variable rate indexed to the three-month Euribor, consists of an €83 million loan effectively drawn to refinance the Group’s debt, along with a loan commitment of up to €37 million to support its growth strategy, of which €13,6 million remained unused as of December 31, 2025.

10.2 Debt

Bank borrowings are financial liabilities valued at amortized cost using the effective interest rate method. The effective interest rate method calculates the amortized cost of a financial liability and allocates an interest expense during the reporting period. The effective interest rate is the rate that exactly discounts the estimated future cash payments (including all commissions and proportional fees paid or received that are an integral part of the effective interest rate, transaction costs and other premiums and discounts) over the expected life of the financial liability or, if appropriate, over a shorter period, at the amortized cost of a financial liability. Accounting principles relating to financial liabilities tied to contingent considerations on acquisitions (“earnouts”) or call and put options granted to minority interests are presented in Note 10.3.

6

The Group’s financial debt consists mainly of:
* Bank loans
* Debts related to earnouts from acquisitions or put options granted to minority interests for shares in group subsidiaries that are not wholly owned, presented below under other loans and related debts.# Debt, long-term (In millions of euros)

	31.12.2025	31.12.2024
Loans from credit institutions, long-term	76.9	74.3
Earnouts, call and put options	2.9	0.8
TOTAL	79.8	75.1

Debt, short-term (In millions of euros)

	31.12.2025	31.12.2024
Short-term loans from credit institutions, lines of credit, and bank overdrafts	32.6	22.7
Earnouts, call and put options	3.1	3.3
TOTAL	35.8	26.1

Change in debt owed to credit institutions

The change in the Group’s debt was as follows:

Other changes with no impact on cash flow	31.12.2025	(In millions of euros)	01.01.2025
Loan issuance	16.0		74.3
Repayment of borrowings	(0.69)		22.7
Changes in scope	(0.2)		97.0
Other (1)	0.4
Reclassification schedule	(12.9)
Long-term debt	76.9
Short-term debt	32.6
Total liabilities from financing activities	109.6

(1) Mainly includes fees for debt issuance costs

Solutions30 | Annual Report 2025 231

Debt maturities

Loans from credit institutions have maturities in excess of 5 years:

(In millions of euros)	31.12.2025	2026	2027	2028	2029	2030 and beyond
Loans and bank overdrafts	109.6	32.6	10.9	12.5	12.0	41.5
Interest expense	11.4	4.3	2.4	2.0	1.6	1.2
Lease liabilities	57.3	25.4	16.6	8.5	3.8	2.9
Earnouts, call and put options	6.0	3.1	0.5	—	2.3	—

Off-balance sheet commitments related to group financing

As a guarantee for the €83 million loan and the €37 million credit facility signed in November 2024, the Group signed an agreement to pledge shares in Telima Frepart and Solutions30 Belgium. 10.3

Earnouts, call and put options granted to minority shareholders

Earnouts, call options, and put options are recognized at fair value and recorded under “Debt, short-term” in the statement of financial position if they are due within 12 months of the end of the fiscal year, or under “Debt, long- term” if they are due beyond a 12-month period. All earnouts are estimated at their fair value on the acquisition date. They are marked to market at the end of each reporting period and changes in their fair value are recognized through profit or loss. As there are no specific provisions in IFRS, the Group considers put options granted to minority interests and call options granted to minority shareholders to be financial liabilities. These commitments may be optional (“put options”) or mandatory (“call options”). The Group accounts for these commitments as follows:

When first entered into the books:
(i) The value of the commitment is recognized under the item “Debt, short-term” and/or “Debt, long-term” at its fair value, for the estimated exercise price of the put option.
(ii) All minority interests are eliminated, except for the portion representing a dividend distribution obligation, which remains contingent on the exercise of the call or put option.
(iii) The difference between the amount of canceled minority interests and the estimated exercise price of the call or put option is accounted for as part of group 6 equity.

At the end of the reporting period:
(i) Financial debt is revalued at fair value at the end of each reporting period in accordance with the relevant contractual clauses, with a corresponding entry as financial income.
(ii) The share of annual income attributable to minority interests is recognized.

The change in the fair value of debts related to earnouts, put options, and call options is presented in the table below:

(In millions of euros)	01.01.2025	Increase	Decrease	Earnout payment	Change in fair value	31.12.2025
Earnouts	0.8	0.3	(1.0)	—	0.1	0.2
Put and call options	3.3	5.6	—	(2.7)	(0.5)	5.7
TOTAL	4.1	5.9	(1.0)	(2.7)	(0.4)	5.9

The €0.3 million increase corresponds to the value of the earnouts to be paid in connection with the 2025 acquisition of 50% of Solutions 30 Solaire’s share capital. The increase of €5.6 million corresponds to:
– The value of call options granted to minority shareholders in respect of the remaining 40% of the capital of Solutions 30 Solaire amounting to €5.0 million. This amount was recognized as a liability, split between “Long-term debt” and “Short-term debt,” for a total of €5.0 million. On the date control became effective, €2.6 million of the consideration was allocated to minority interests (reduction in their share) (see Note 21.2 - “Subsidiary Acquisitions”) and the rest, i.e. €2.4 million, to the group share of shareholders’ equity (see Note 6.1.3 - Consolidated statement of equity).
– The value of call options granted to minority shareholders in respect of the remaining 49% of the capital of Elektra Realizacje amounting to €0.6 million. This amount was recognized as a liability, split between “Long-term debt” and “Short-term debt,” for a total of €0.6 million. The consideration was allocated, on the date control became effective, €0.1 million to minority interests (reduction in their share) (see Note 21.2 - “Subsidiary Acquisitions”) and the rest, i.e. €0.5 million, to the group share of shareholders’ equity (see Note 6.1.3 - Consolidated statement of equity).

The €1.0 million decrease corresponds to the reversal of Xperal earnouts following the liquidation of the company (see Note 21.4 “Other changes in scope of consolidation 2025”). The payment of €2.7 million corresponds to the rest of the price paid for the acquisition of Byon Fiber and Byon SAS in 2024. The fair value of earnouts, put options, and call options is based on the present value of probable future cash flows taking into account the Group’s contractual commitments (level 3). Changes in fair value have been recognized in the consolidated statement of comprehensive income under “Financial income”.

Solutions30 | Annual Report 2025 232

10.4 Financial income and expenses

The Group’s financial income and expenses were as follows:

(In millions of euros)	2025	2024 restated
Interest expense	(10.6)	(10.4)
Foreign exchange gains	—	—
Foreign exchange losses	(0.1)	(0.1)
Change in fair value of derivatives	0.3	(0.1)
Other financial income	1.5	1.6
Other financial expenses	(4.9)	(6.2)
TOTAL	(13.9)	(15.2)

6 Interest expenses are mainly related to interest on bank loans and lease liabilities. Interest on lease liabilities amounted to €3.1 million in 2025 (2024: €3.2 million). Other financial expenses include changes in earnout values and call and put options, amounting to €0.4 million in 2025, compared to €1.1 million in 2024 (see note 10.3). Other financial expenses mostly consisted of the costs of factoring programs.

Note 11: Leases

The Group as a tenant

At the inception of contracts, the Group determines whether they are service contracts or whether they contain a lease commitment, i.e. whether the contract gives the right to control the use of an identified asset for a period of time in exchange for consideration. The Group recognizes a right-of-use asset and a corresponding lease obligation for all leases in which it is involved as lessee (See Notes 11.1 and 11.2). The Group applies both exemptions proposed in IFRS 16 to short-term leases (12 months or less) and to leases for assets whose underlying value is less than €5k (€10.5 million in 2025, €13.7 million in 2024). For these types of contracts, the Group recognizes lease payments as linear operating expenses for the duration of the lease. Nearly all operating expenses related to leases are from short-term leases.

The Group uses three types of leases to pursue its operating activities:
* Lease agreements for vehicles used by technicians, which make up the bulk of the Group’s lease agreements (which generally have a term of between three and four years). These contracts have standard terms and conditions: (i) the rental amount defined in the contract is fixed, (ii) repair and vehicle costs are not tied to the contract and are expensed, (iii) the term of the contracts is also fixed. In the rare cases, where the option to extend or terminate the contract term is activated, an amendment is prepared and integrated into the contract database. For certain contracts, the Group has the option to purchase the vehicles, which it exercises only in extremely rare cases.
* Real estate leases: These contracts cover the offices the Group occupies in the various countries in which it operates, as well as storage warehouses. Real estate leases are mostly long-term (commercial leases with an early termination option, mostly between 6 and 9 years). Based on the region where the lease is drawn up, the lease period may vary, so the Group has determined specific term lengths in light of local legal and economic factors. Contract indexing is taken into account in the calculation of the lease debt at the beginning of the contract.
* Equipment leases: These contracts concern: (i) certain equipment used by technicians, (ii) leases for payment solutions, (iii) the leasing of IT hardware. These are mainly leases for equipment with fixed payments. Their term is aligned with the depreciation period of the equipment. For certain contracts, the Group has the option to purchase the equipment, which it exercises only in extremely rare cases.

The Group took into consideration the extension or termination options incorporated into the leases. The Group does not generally take these options into account when it is reasonably certain that it will not need them. The end dates for leases thus correspond to periods that align with the strategic horizon for making strategic group decisions, such as choosing investments. If necessary, the duration of these contracts may be reconsidered to better account for group-level strategic decisions.

Solutions30 | Annual Report 2025 233

11.1 Right of use

A right of use is recognized as an asset against the lease liability. Such rights of use correspond to the amount of lease liabilities plus any possible direct costs generated by certain contracts, including fees. The Group applies IAS 36 to determine whether an asset for which the right of use has been granted is impaired and recognizes any impairment loss as described in the property, plant and equipment method.The rights of use are presented in the following table: (In millions of euros)

	Vehicles	Property	Equipment	Total
At December 31, 2024	45.5	22.5	0.6	68.6
Increase	16.7	4.6	—	21.3
Amortization	(23.1)	(9.2)	(0.3)	(32.6)
At December 31, 2025	39.0	17.9	0.3	57.3

6 11.2 Lease liabilities

The Group records a liability (a lease liability) on the date the underlying asset is put at its disposal. This lease liability corresponds to the updated value of substantially fixed rents that remain to be paid, plus the amount the Group is reasonably certain it will pay at the end of the contract, such as the exercise price of purchase options (when it is reasonably certain that it will exercise them) or penalties owed to the lessor in case of termination (when termination is reasonably certain). The Group only accounts for the lease aspect of the contract when evaluating lease liabilities. The Group systematically determines the length of lease agreements to be the period during when the contract may not be terminated, plus any time included in any extension options that the lessee is reasonably certain they will exercise, and any termination options that the lessee is reasonably certain they will not exercise. In the specific instance of real estate leases, contract durations are determined on a case-by-case basis. When a lease agreement includes a purchase option, the Group uses the useful life of the underlying asset as its contract duration when it is reasonably certain it will exercise this purchase option. For each contract, the discount rate used is based on incremental borrowing rates. It is determined using the group borrowing rate at the start date of the adjusted lease and the spread specific to each country. After the contract start date, the amount of the lease liability may be reevaluated to better reflect changes created by the following events:
* Modification of the duration of the lease (amendment, reasonable certainty of exercising an option to renew, or of not exercising an option to terminate).
* Modification of the rent amount.
* Modification of the terms for exercising a purchase option.
* Other modifications to the contract (modification of the scope or of the underlying asset).

Lease liabilities are presented in the table below: (In millions of euros)

	31.12.2025	31.12.2024
At January 1	68.8	76.4
Increase	24.8	26.7
Payments	(36.4)	(34.3)
At December 31	57.2	68.8
Current	25.4	26.4
Non-current	31.8	42.4

The maturity analysis of lease debts is presented in table 10.2 Debt.

Note 12: Equity

12.1 Changes in share capital

At December 31, 2025, the capital consists of 107,127,984 shares at a par value of €0.1275.

	31.12.2025	31.12.2024
Number of ordinary shares	107,127,984	107,127,984
Total number of shares	107,127,984	107,127,984

Solutions30 | Annual Report 2025 234

12.2 Earnings per share

12.2 .1 Earnings per share

Earnings per share, based on the weighted average number of shares outstanding during the year:

Earnings per share attributable to owners of the parent company (In euros)	31.12.2025	31.12.2024 restated
Net income from continuing operations - basic	(0.384)	(0.054)
- diluted	(0.384)	(0.054)
Net income from discontinued operations - basic	(0.160)	(0.087)
- diluted	(0.160)	(0.087)
Consolidated net income - basic	(0.567)	(0.147)
- diluted	(0.567)	(0.147)

12.2.2 Weighted average number of shares

To calculate diluted earnings per share, the weighted average number of shares outstanding is adjusted to account for the potentially dilutive effect of all equity instruments issued by the Group. Dilution resulting from the exercise of stock options is determined in accordance with the method defined by IAS 33. In accordance with this standard, the options granted during the year (see Note 4.3) are excluded from the calculation of diluted earnings per share as at December 31, 2025, as their exercise price is higher than the average share price since the grant date. As at December 31, 2024, there were no options outstanding.

(In numbers of shares)	31.12.2025	31.12.2024 restated
Weighted average number of ordinary shares and potential ordinary shares used as a denominator in the calculation of basic earnings per share	107,127,984	107,127,984
Adjustments for the calculation of diluted earnings per share:	—	—
Weighted average number of ordinary shares and potential ordinary shares used as a denominator in the calculation of diluted earnings per share	107,127,984	107,127,984

12.3 Minority interests

The following table presents details of the Group’s non-wholly owned subsidiaries in which minority interests are material:

	Attributable to minority interests	Net income attributable to minority interests	Minority interests
	31.12.2025	31.12.2024 restated	31.12.2025
Unit-T*	30.0%	30.0%	4.6
Unit-T Certified Service*	30.0%	30.0%	(0.7)
Unit-T Field Services*	30.0%	30.0%	(0.4)
ICT Field Services*	30.0%	30.0%	(0.5)
Brabamij Infra BV*	30.0%	30.0%	(0.7)
Brabamij Technics BV*	30.0%	30.0%	(0.2)
Other	—%	—%	0.3
Total			2.5

*Companies related to Unit-T.

Solutions30 | Rapport annuel 2025 235

Note 13: Financial risk management

The Group’s main financial liabilities consist of bank loans and overdrafts, lease debt, and trade payables. The main purpose of these financial liabilities is to finance the Group’s operating activities. The Group holds financial assets such as trade receivables, cash and short-term deposits that are directly generated by its activities.

13.1 Information regarding the evaluation, classification, and fair value of financial assets and liabilities

The Group divides its financial assets into the following categories: assets measured at fair value through profit or loss (“FVTPL”) and assets measured at amortized cost (“AC”). The Group divides its financial liabilities into the following categories: liabilities measured at fair value through profit or loss (“FVTPL”) and liabilities measured at amortized cost (“AC”). Financial assets and liabilities measured at their fair value are ranked in 3 levels. Levels 1 to 3 in the fair value hierarchy each represent a level of fair value observability:
* Level 1 fair value evaluations are based on quoted prices in active markets for identical assets or liabilities.
* Level 2 fair value evaluations are those based on inputs other than the quoted prices included in Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices).
* Level 3 fair value evaluations are those determined using valuation techniques that include inputs for the asset or liability that are not based on observable market data.

The following table provides information on:
* Financial instrument carrying amounts
* Financial instrument fair values.

6 (In millions of euros)

		IFRS 9*	Category	Carrying amount	Estimated fair value	Carrying amount	Estimated fair value
				31.12.2025	31.12.2025	31.12.2024	31.12.2024
Non-current financial assets
Trade receivables and related accounts	6.1	AC	3.2	3.2	3.1	3.1
Lease receivables	6.3	AC	240.9	240.9	219.5	219.5
Other receivables**	6.2	AC	2.0	2.0	1.9	1.9
Derivative financial assets	13.1	FVTPL***	0.1	0.1	—	—
Cash and cash equivalents	9	FVTPL	73.2	73.2	96.3	96.3
Financial assets				336.2	336.2	333.9	333.9
Financial liabilities
Debt (borrowing, lines of credit, bank overdrafts)	10.2	AC	109.6	109.6	97.0	97.0
Indebtedness (earnouts, call and put options)	10.2; 10.3	FVTPL****	6.0	6.0	4.1	4.1
Lease liabilities	11	AC	57.3	57.3	68.8	68.8
Derivative financial liabilities	13.1	FVTPL***	0.1	0.1	0.3	0.3
Trade payables		AC	172.2	172.2	171.7	171.7
Other current liabilities		AC	20.7	20.7	21.0	21.0
Financial liabilities				365.8	365.8	363.0	363.0

* “AC” stands for “amortized cost”; “FVTPL” stands for “fair value through profit or loss.”
** Excludes tax claims, tax receivables, and social security receivables
*** Level 2 of the fair value hierarchy
**** Level 3 of the fair value hierarchy

13.2 Financial risk management policy and objectives

The main risks associated with the Group’s financial instruments are as follows: interest rate risk on cash flows and liquidity risk. The systems for managing these risks are described in Notes 13.1 and 13.2. The policies for managing other risks are summarized as follows:

• Credit risk
  The Group’s exposure to the credit risk related to its financial assets, mainly customers, cash and cash equivalents, is related to the possible default of involved third parties, with a maximum exposure equal to the carrying amount of these instruments. Customer balances are subject to permanent monitoring. The deconsolidating non-recourse factoring solutions that the Group uses with its major customers strongly limit the risk of unrecoverable receivables. Changes in customer account depreciation throughout the year and the limited risk of customer account depreciation are presented in Note 6.

• Currency risk
  The Group and its subsidiaries do most of their business in the eurozone, with services billed in euros and suppliers mostly paid in euros. Only the Polish subsidiary uses a currency other than the euro, the Polish zloty. At December 31, 2025, 6.9% of the Group’s revenue (6.2% in 2024) was generated in currencies other than the euro, and this exclusively in Polish zloties. The Group issues its consolidated financial statements in euros. Accordingly, when preparing its consolidated financial statements, it must convert assets, liabilities, income and expenses recorded in foreign currencies into euros, using the applicable exchange rates. Exchange rate fluctuations may therefore affect the value of these items in the consolidated financial statements, even if their intrinsic value remains unchanged.

Solutions30 | Rapport annuel 2025 236Expenses relating to the operation of call centers based in Morocco, Tunisia and Poland are paid in cash in dirhams, dinars, or zloties. Nevertheless, given the amounts at play, the currency risk is insignificant. The following table details the Group’s sensitivity to a 5% increase or decrease in the Polish zloty.

Sensitivity to zloty exchange rates (In millions of euros)

	+ 5 %	- 5 %
Net income	0.01	(0.01)
Total Assets	1.5	(1.5)

■ Equity risk

At December 31, 2025, the Group had no trading activities.

13.3 Cash flow interest rate risk

Loans from credit institutions are mainly subject to variable rates.

■ Exposure level

The Group’s exposure to the risk of changing market interest rates is linked to financial debt levels. Interest rate management is an integral part of debt management through the use of hedging instruments. At December 31, 2025, the fair value of derivative assets was €0.1 million (2024: €0.0 million) and is recorded under “Derivative assets.” The fair value of derivative liabilities was €0.1 million (2024: €0.3 million), and is shown under “Derivative liabilities.” The change in fair value of these hedging instruments is recorded under “Financial income” and “Financial expenses” in the consolidated statement of comprehensive income (see note 10.4). Its characteristics are as follows:

Type of instrument	Interest rate swap A
Initial nominal amount	€20 million, amortized on a straight-line basis until maturity
Notional amount December 31, 2025	€20 million
Start date	May 28 2025
Maturity date	May 19 2031
Cash flow	Receives Euribor 6-month rate, pays 2.295%
Settlement dates	May 19 and November 19

Type of instrument	Interest rate swap B
Initial nominal amount	€39.1 million, amortized on a straight-line basis until maturity
Notional amount December 31, 2025	€14.3 million
Start date	May 29 2025
Maturity date	November 29 2028
Cash flow	Receives Euribor 3-month rate, pays 2.550%
Settlement dates	August 29, November 29, February 29, and May 29

■ Sensitivity analysis of interest rate changes

The sensitivity analysis of borrowings from credit institutions was carried out on the Group’s primary variable-rate loans (indexed to the Euribor 3-month rate), which made up roughly 93% of group loans at the end of the reporting period. The calculations were based on the nominal value not covered by the derivatives above, or a nominal value of €67.3 million on December 31, 2025. A 1% rise in interest rates would increase the annual cost of gross financial debt by €0.7 million. A 1% fall in interest rates would reduce the annual cost of gross financial debt by €0.7 million.

13.4 Liquidity risk

The Solutions30 Group has short-, medium- and long-term bank loans, with €109.6 million in remaining principle at December 31, 2025, compared with €97.0 million at the end of 2024. The undrawn amount was €13.6 million at December 31, 2025.

Solutions30 | Rapport annuel 2025 237

The Group’s credit agreement contains early repayment clauses if agreed covenants are not complied with, in particular maintaining the “net bank debt/EBITDA” ratio below a threshold of 2.5. At December 31, 2025, the Group is in compliance with this financial ratio.

13.5 Sensitivity analysis for earnouts and call and put options

The Group undertook an analysis of whether the fair value of earnouts, put options, and call options was reasonable given the modifications made to the primary assumptions used to determine this fair value. The calculations determined that they were reasonable and that a variation of 5% in assumptions about future cash flows would have had the following impact on the resulting fair values, and therefore the Group’s consolidated financial statements at December 31, 2025:

Sensitivity to future cash flow (In millions of euros)

	- 5 %	+ 5 %
Earnouts	—	—
Put and call options	(0.29)	0.29
TOTAL	(0.29)	0.29

13.6 Changes in capital

The Group manages its capital in such a way as to ensure that its entities will be able to continue operations while maximizing shareholder return through the optimization of the debt-to-equity ratio. The Group’s overall strategy remained the same as in 2024. The Group’s capital structure consists of net debt (borrowings, detailed in Note 10.2, net of cash and bank balances) and group equity (which includes issued capital, reserves, retained earnings, and minority interests). The Group is not subject to any external capital requirements. To manage its capital, the Group uses a leverage ratio equal to net bank debt divided by group equity. The Group’s target is to keep its capital structure ratio under 40%. At December 31, 2025, the financial structure ratio was 108% (1% in 2024) above the internal target. This situation primarily reflects losses incurred from transformation initiatives undertaken in 2025, aimed at facilitating the divestment of less profitable businesses, particularly in the United Kingdom and Spain. The Group has undertaken actions to strengthen its financial structure, including enhancing cash flow generation and controlling investments.

Solutions30 | Rapport annuel 2025 238

LONG-TERM ASSETS
Note 14: Intangible assets and property, plant and equipment

14.1 Goodwill

Goodwill is the difference between the acquisition price of shares in acquired companies, adjusted for earnouts and the Group share of the fair value of their net assets that are identifiable at the date control is handed over. Subsequently, this goodwill is valued at cost, less any impairment losses, in accordance with the method described in the paragraph “Subsequent monitoring of fixed assets.”

Movements during the period

Goodwill amounts are presented in the table below:

(In millions of euros)

	Gross values	Net values
31.12.2024	56.7	56.7
Increase during the period	3.6	3.6
Deconsolidation	(1.4)	(1.4)
Translation adjustments and other changes	—	—
31.12.2025	58.9	58.9

Sector breakdown (In millions of euros)

	31.12.2025
Goodwill	58.9	28.3	29.4	0.4
Benelux		France	Germany	Other

	31.12.2024
Goodwill	56.7	29.0	26.0	0.4
Benelux		France	Germany	Other

Subsequent monitoring of fixed assets

Cash-generating units (CGUs) are identified on the basis of geographical segments. At December 31, 2025, the Group had six CGUs. All cash-generating units—including goodwill and assets with definite useful lives—are subject to review by management and an impairment test at the end of each year or in the event there is an indication of impairment. An impairment loss is recognized as soon as the carrying amount of a cash-generating unit exceeds its recoverable amount. The recoverable amount is the highest value between the asset’s net selling price and its value in use. The value-in-use is determined by discounting future cash flows. An impairment loss recognized for a cash-generating unit is allocated first to goodwill in the cash-generating unit, then to the reduction of the carrying amount of the other assets in the unit in proportion to the carrying amount of each asset in the unit. Except for goodwill, impairment losses recorded in previous years are reversed when the estimates used to determine them change.

Valuation methods applied to continuing operations

The assumptions and estimates made to determine the recoverable amount of goodwill, intangible assets and property, plant and equipment relate in particular to the market outlook required to evaluate cash flows and the discount rates used. Any change in these assumptions could have a significant impact on the amount of the recoverable value. The recoverable amount of cash-generating units is determined using the value-in-use calculation, which is based on discounted cash flow projections (DCF method). The parameters used to determine the recoverable amount of from the consolidated main CGUs are as follows:

Solutions30 | Rapport annuel 2025 239

	Rate of growth (terminal value)	Discount rate before taxes
	31.12.2025	31.12.2024
Benelux	2.00%	2.00%
France	2.00%	2.00%

Business forecasts are based on the operating budgets set by management for the next 5 years (2026 to 2030). Management’s estimate of growth rates per cash- generating unit is based on past performance and the business outlook of the underlying markets. On the basis of these estimates, these impairment tests did not lead to the recognition of any impairment at the level of all CGUs at December 31, 2025, as at December 31, 2024.

Sensitivity analysis of the value-in-use of CGUs to the key assumptions used

The Group performed an analysis of the sensitivity of the impairment test to changes in the key assumptions used to determine the recoverable amount of each group of CGUs to which the assets are allocated : – 100 basis point change in discount rate assumptions. – 50 basis point change in long-term growth rates. – 100 basis point change in the normative EBITDA margin rate. These sensitivity analyses show that reasonably possible changes in these assumptions for France and the Benelux would not have a material impact on the impairment test results and, accordingly, no impairment needs to be recognized as at December 31, 2025. For robustness purposes, the Group also analyzed several sensitivity scenarios applied to its Connectivity business in France, including a scenario where the terminal value is reduced to zero. Under this highly conservative scenario, the recoverable amount of the France CGU remains above the carrying amount of goodwill, confirming that no impairment indicator has been identified.

14.2 Other intangible assets

■ Customer relationships and contracts

The value of customer relationships and contracts is based on discounted cash flows generated by fulfilling the main contracts acquired. The amortization period is the estimated time for the consumption of the majority of the economic benefits flowing to the company and varies from 5 to 15 years.The discontinuation of operations in the UK led to the full impairment of related customer relationships in 2025. The analyses performed on various scenarios of market evolution in the Connectivity segment in France did not indicate any significant impairment risk affecting these customer relationships.

■ Other intangible assets

Other intangible assets are accounted for at cost, less cumulative amortization and any impairment loss. These intangible assets primarily consist of patents, software, and brands. Amortization is recognized as an expense on a straight-line basis over the useful life of the asset. Amortization methods and terms used for all intangible assets are as follows:

Intangible assets	Duration
Concessions, patents, and licenses	5 to 10 years
Software	3 years
Websites	1 to 3 years
Customer relationships	5 to 15 years

Changes in intangible assets can be broken down as follows:

Solutions30 | Rapport annuel 2025 240
(In millions of euros)

	Customer relationships and contracts	Other intangible assets	Total
Net value at 01.01.2025	73.3	27.5	100.7
Gross value at 01.01.2025	167.9	90.3	258.2
Fixed assets acquired from continuing operations	0.9	6.8	7.7
Fixed assets sold or scrappe	—	(0.1)	(0.1)
Changes in scope	(30.0)	(0.1)	(30.1)
Cumulative translation adjustments	(0.8)	0.9	0.1
Gross value at 31.12.2025	138.0	97.9	235.9
Value of amortization at 01.01.2025	(94.6)	(62.9)	(157.5)
Amortization and impairments for the period from continuing operations	(11.6)	(10.8)	(22.4)
Amortization and impairments for the period from discontinued operations	(12.0)	(0.3)	(12.3)
Fixed assets sold or scrapped	—	0.1	0.1
Changes in scope	27.1	0.6	27.8
Cumulative translation adjustments	0.2	(0.3)	(0.1)
Value of amortization at 31.12.2025	(90.9)	(73.5)	(164.4)
Net value at 31.12.2025	47.1	24.3	71.5

14.3 Property, plant and equipment

Property, plant and equipment are valued at their acquisition cost (purchase price plus related costs). The asset’s acquisition cost is the purchase price including costs that are directly attributable and necessary for the use of the asset as expected by management as well as financing costs before operational launch. They are depreciated on a straight-line basis depending on the probable useful life of the assets in question. The main useful lives used are as follows:

Property, plant and equipment	Duration
Buildings	5 to 10 years
Technical facilities and machinery	3 to 5 years
Other facilities, tools, and equipment	3 to 5 years

Solutions30 | Rapport annuel 2025 241

Changes in property, plant and equipment excluding right-of-use assets (IFRS 16) are analyzed as follows:
(In millions of euros)

	Buildings and land	Technical facilities and machinery	Other property, plant and equipment	Construction in progress	Total property, plant and equipment
Net value at 01.01.2025	1.5	10.6	11.5	0.2	23.8
Gross value at 01.01.2025	2.6	31.8	35.3	0.2	70.0
Fixed assets acquired from continuing operations	—	1.3	2.5	0.3	4.1
Fixed assets acquired from discontinued operations	—	—	—	—	—
Fixed assets sold or scrapped	—	(1.6)	(2.5)	—	(4.1)
Changes in scope	—	0.1	0.3	—	0.4
Cumulative translation adjustments	—	0.1	0.1	—	0.1
Gross value at 31.12.2025	2.6	31.7	35.6	0.5	70.4
Value of amortization at 01.01.2025	(1.1)	(21.2)	(23.8)	—	(46.1)
Amortization and impairments for the period from continuing operations	(0.1)	(4.0)	(3.7)	—	(7.9)
Amortization and impairments for the period from discontinued operations	—	—	(0.1)	—	(0.1)
Changes in amortization on assets that were sold or scrapped	—	1.0	1.9	—	2.9
Changes in scope	—	(0.1)	(0.1)	—	(0.2)
Cumulative translation adjustments	—	(0.03)	(0.02)	—	(0.1)
Value of amortization at 31.12.2025	(1.2)	(24.4)	(25.8)	—	(51.5)
Net value at 31.12.2025	1.4	7.3	9.8	0.5	18.9

Note 15: Other non-current assets and investments in associates

15.1 Non-current financial assets

Details of non-current financial assets are presented below:

(In millions of euros)

	Gross values 31.12.2025	Amortization and impairments 31.12.2025	Net values 31.12.2025
Loans, deposits, guarantees and other	3.1	—	3.1
Equity investments	0.1	—	0.1
TOTAL	3.2	—	3.2

(In millions of euros)

	Gross values 31.12.2024	Amortization and impairments 31.12.2024	Net values 31.12.2024
Loans, deposits, guarantees and other	3.1	—	3.1
Equity investments	0.1	—	0.1
TOTAL	3.1	—	3.1

15.2 Associates

The Group’s share of associates is accounted for using the equity method. At December 31, 2024, the Group held a 10% stake in the French company Solutions 30 Solaire (which acquired 100% of So-Tec). Effective April 1, 2025, the Group assumed control of Solutions30 Solaire through the acquisition of an additional 50% of its capital, thus increasing its stake to 60%, including the 10% already held. Solutions 30 Solaire is fully consolidated from this date (see note 21.2.1).

Solutions30 | Annual Report 2025 242

OTHER

Note 16: Contingent liabilities, provisions and commitments

A provision is recognized if the Group has a present obligation (legal or constructive) as a result of a past event, if it is probable that the Group will be required to settle the obligation and if the amount of the obligation can be reliably estimated. The amount recognized as a provision is the best estimate of the consideration required to settle the present obligation at the closing date, taking into account the risks and uncertainties relating to the obligation. If a provision is evaluated based on the estimated cash flow required to settle the present obligation, its carrying amount is the present value of those cash flows (where the effect of the time value of money is material).

16.1 Non-current provisions

Non-current provisions can be broken down as follows:
(In millions of euros)

	01.01.2025	Changes in scope	Increase	Decrease*	Change in actuarial gains and losses	31.12.2025
Retirement indemnities	7.4	—	0.9	—	(0.7)	7.5
Provisions for legal disputes	6.5	—	4.3	(4.5)	—	6.3
Other non-current provisions	6.3	0.2	5.2	(0.1)	—	11.6
TOTAL	20.3	0.2	10.3	(4.7)	(0.7)	25.4

*Including €3.9 million of unused provisions.

Retirement indemnities in France and Italy are presented in note 16.3 “Retirement commitments.” Provisions for litigation correspond to ongoing commercial, employment, or administrative disputes and litigation. Other non-current provisions primarily include social provisions related to personnel transferred to the Group under outsourcing contracts concluded by the Group with certain clients, particularly Telenet in Belgium, which reimbursing this €6.4 million cost in full (2024: €5.8 million) and restructuring provisions of €2.9 million.

16.2 Current provisions

Current provisions can be broken down as follows:
(In millions of euros)

	01.01.2025	Increase	Decrease	31.12.2025
Provisions for reconditioning	0.9	0.2	(0.7)	0.3
Retirement indemnities	—	—	—	—
TOTAL	0.9	0.2	(0.7)	0.3

16.3 Retirement commitments

16.3.1 Principles of IAS 19

For post-employment benefits that are part of defined benefit plans in France and Italy, benefit costs are estimated using the projected unit credit method. With this method, benefit entitlements are allocated to periods of service based on the plan’s vesting formula, taking into account a linearization effect when the rate of vesting is not uniform over subsequent periods of service. Future payment amounts corresponding to benefits granted to employees are valued on the basis of assumptions about salary increases, retirement age and mortality, and then discounted to their present value on the basis of interest rates for long-term bonds issued by highly rated issuers. If defined benefit plans are amended, curtailed, or settled, the entity must recognize and measure the past service cost or the gain or loss resulting from the settlement without taking into account the effect of the asset ceiling. It then determines the effect of the asset ceiling after the plan amendment, curtailment, or settlement and record any change to that effect. When these calculations are revised, actuarial gains and losses are recognized in the period in which they arise, outside income, directly in equity under “Other changes.”

Solutions30 | Annual Report 2025 243

Apart from retirement commitments, there are no other defined benefit plans for post-employment benefits in group companies. Legal and contractual indemnities are calculated for each of the Group’s current employees on the basis of their theoretical length of service and retirement date, in accordance with IAS 19.

16.3.2 Assumptions made in the valuation of employee benefits at Solutions30

Provisions for the Solutions30 Group are calculated on an actuarial basis, taking into account the seniority and remuneration of the persons concerned before retirement age (expected at age 67). These commitments are determined on the assumption that the employee will leave on their own initiative in 100% of cases. Accounting for seniority, the actuarial assumptions for the valuation of the system were as follows. Commitment calculations take into account:
* An average 2025 payroll tax rate between 9% and 65%, depending on the entity (compared to 9% and 57% in 2024)
* Employee turnover rates by age group ranging from 12.6% (at age 18) to 0.92% (at age 55) (the same table was used in 2024)
* A 2% salary increase rate in 2025 and 2024
* INSEE 2018-2020 mortality tables by sex.

The discount rate used is 3.96% at December 31, 2025 (compared to 3.38% at the end of 2024).(In millions of euros)
Provisions for retirement indemnities at January 1, 2024 7.0
Cost of services rendered during the year 0.8
Amount paid in connection to departures during the year (0.04)
Changes in actuarial gains and losses (0.3)
Provisions for retirement indemnities at December 31, 2024 7.4
Cost of services rendered during the year 0.7
Amount paid in connection to departures during the year (0.04)
Changes in actuarial gains and losses (0.7)
Provisions for retirement indemnities at December 31, 2025 7.5

6 Solutions30 | Annual Report 2025 244

16.4 Off-balance sheet commitments related to operating activities

The list of guarantees granted (pledges, mortgages, guarantees, etc.) is presented below.

Country	Principal	Type of guarantee	Guaranteed obligations	Term	Amount in millions of euros
Germany	Solutions30 Field Services Sud Gmbh	Customer guarantee	Obligations arising from the performance of services under contract, in particular those relating to the telecoms business	Applicable during the entire contractual relationship	19.0
Belgium	Group’s Belgian companies	Demand guarantee	Obligations arising from bank guarantees	Applicable during the entire contractual relationship	15.0
Belgium	Group’s Belgian companies	Customer guarantee	Obligations arising from the performance of services under contract, in particular those relating to the telecoms and energy businesses	Applicable during the entire contractual relationship	7.9
France	Solutions30 Energies S.à r.l.	Guarantee	Obligations arising from the performance of services under contract, in particular those relating to the photovoltaic business	Applicable during the entire contractual relationship	7.9
Germany	Solutions30 Field Services Sud Gmbh	Guarantee	Obligations arising from the performance of services under contract, in particular those relating to the telecoms business in Germany	Applicable during the entire contractual relationship	4.5
Spain	Group’s Spanish companies	Customer guarantee	Obligations arising from the performance of services under contract, in particular those relating to the telecoms business	Applicable during the entire contractual relationship	1.6
France	Solutions 30 ETC	Indemnity bond	Obligations arising from the performance of services under contract, including the provision of payment terminals	Applicable during the entire contractual relationship	0.8
Belgium	Group’s Belgian companies	Customer guarantee	Obligations arising from the performance of services under contract, in particular those relating to the telecoms and energy businesses	Applicable during the entire contractual relationship	0.2
France	Group’s French companies	Demand guarantee	Payment of any amount charged by the beneficiary as part of their business and of any product or service provided via its fuel cards	Applicable during the entire contractual relationship	0.2
Poland	S30 Group’s Polish companies	Customer guarantee	Obligations arising from the performance of services under contract, in particular those relating to the telecoms business	Applicable during the entire contractual relationship	0.2
Spain	S30 Group’s Spanish companies	Bank guarantee	Payment of any amount charged by the beneficiary in connection with its business	Applicable during the entire contractual relationship	0.1
Spain	S30 Group’s Spanish companies	Demand guarantee	Payment of any amount charged by the beneficiary as part of their business and of any product or service provided via its fuel cards	Applicable during the entire contractual relationship	0.1

6 Note 17: Income taxes

Tax payable

Current tax payable is based on taxable profit for the year. Taxable profit differs from the net earnings reported in net income because it excludes income and expense items that were taxable or deductible in other years, as well as items that are never taxable or deductible. The Group’s payable tax liability is calculated using currently adopted, or nearly adopted tax rates at the end of the reporting period. A liability is recognized for positions for which the tax calculation is uncertain, but for which it is considered probable that there will be an outflow of a future liability to a tax authority. Liabilities are valued at the best estimate of the amount the Group expects to pay. The assessment is based on the judgment of the Group’s tax specialists in light of their experience with these activities and, in some cases, on the tax opinions of independent specialists.

Deferred taxes

Deferred tax is the tax that the Group expects to pay or recover on differences between the carrying amounts of assets and liabilities reported in the financial statements and the corresponding tax bases used in the computation of taxable profit, and is accounted for using the tax liability method. Deferred tax liabilities are generally recognized for all taxable temporary differences and deferred tax assets are recognized to the extent that it is probable that taxable profit will be available against which deductible temporary differences can be used. The carrying amount of deferred tax assets is reviewed at each balance sheet date and reduced if it is no longer probable that sufficient taxable profit will be available to allow all or part of the asset to be recovered. Deferred tax is calculated using the tax rates that are expected to apply to the period when the liability will be settled or the asset realized, based on tax rates and tax laws that have been enacted or substantively enacted at the balance sheet date. The evaluation of deferred tax liabilities and assets reflects the tax consequences that would result from the way in which the Group expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities. Deferred tax assets are the result of tax loss carryforwards and temporary differences between the tax value and carrying amounts of recognized assets and liabilities. The recoverability of these assets is assessed on the basis of forecasts from strategic plans drawn up for each of the tax groups under consideration. Additional information on deferred tax assets is provided in Notes 17.2 and 17.3. The Group calculates its income taxes in accordance with the tax regulations applicable in the jurisdictions where its profits are taxable. In line with IFRIC 23, a tax liability is recognised when the related tax treatment is uncertain. From time to time, disagreements may arise between the Group and local tax authorities. In particular, the Group is required to address certain positions taken by the tax administrations notably in France which, based on assessments performed by external tax experts, are considered unfounded. In such cases, the Group has initiated the appropriate appeals and, considering the conclusions of these expert analyses, no liability has been recognised.

Recognition of corporate value-added levy (CVAE)

In the absence of specifics in IAS 12 “Income Taxes,” the Group has determined that the CVAE should be accounted for as an income tax. In 2025, this represented (€0.6) million, compared to (€1.2) million in 2024.

Tax consolidation

Three tax consolidation regimes are in effect within the Group. In France, the permanent establishment 6 Solutions30 heads the group that consolidates nearly all associated French companies. In Germany, Solutions30 Holding is the parent company of the Group’s German subsidiaries. In Italy, the tax consolidation regime includes Solutions30 Italia and one subsidiary.

Pillar 2

Amendments to IAS 12 “Income Taxes”: The Group applies the exception for accounting for deferred tax assets and liabilities from income tax arising from the rules of Pillar 2, as well as for communicating on this topic. There are no Pillar 2-related tax expenses recognized in the 2025 consolidated financial statements, due to the transitional exemption applicable to the Group’s jurisdictions.

17.1 Reconciliation between theoretical tax and effective tax

The reconciliation between the corporate income tax shown in the income statement and the theoretical tax that would be due based on rates in Luxembourg was as follows for 2025 and 2024:

(In millions of euros)	2025	2024 restated
Income before tax	(31.3)	(13.7)
Parent company tax rate	26.1%	26.1%
Theoretical tax	8.2	3.6
Impact from associates	—	0.1
Creation, use, and reversal of tax loss carryforwards	(4.4)	0.9
Effect of non-capitalized loss carryforwards	(19.7)	(3.8)
Effect of permanent tax differences	7.6	2.5
Net tax impact of the CVAE levy	(0.6)	(1.2)
Impact of differences in tax rates	—	(0.2)
Other	(0.7)	(3.4)
Corporate income tax	(9.8)	(1.4)
Of which: Current taxes	(7.6)	(9.6)
Deferred taxes	(2.2)	7.9

The permanent differences mostly correspond to the effect of the intellectual property tax regime.

17.2 Deferred taxes

At December 31, 2025, the sources of deferred tax are as follows:

(In millions of euros)	01.01.2025	Change in scope	Other and currency translation adjustments	Impact on earnings from discontinued operations*	Impact on earnings from continuing operations	31.12.2025
Temporary differences from tax returns
Employee profit-sharing and paid holidays	0.5	—	—	—	—	0.6
Other temporary tax differences	0.3	—	—	—	—	0.3
Temporary differences related to consolidation adjustments
Capitalized loss carryforwards	26.9	(1.9)	—	—	(5.6)	19.4
Provision for retirement indemnities	1.0	(0.2)	—	0.1	—	0.9
Other differences	1.6	—	—	1.0	—	2.6
Right of use	17.8	—	—	—	(2.8)	15.0
Offsetting deferred tax assets and liabilities	(19.6)	—	—	—	3.9	(15.7)
Deferred tax assets	28.5	(1.9)	(0.2)	—	(3.3)	23.1
Customer relationships	(18.3)	0.8	—	2.6	3.0	(11.9)
Other differences	(1.1)	(0.1)	0.1	—	—	(0.8)
Lease liabilities	(17.3)	—	—	—	2.8	(14.5)
Offsetting deferred tax assets and liabilities	19.6	—	—	—	(3.9)	15.7
Deferred tax liabilities	(17.0)	0.7	0.1	2.6	1.1	(12.6)
Total net deferred taxes	11.4	(1.2)	(0.1)	2.6	(2.2)	10.5

*See note 21.3 Solutions30 |# Annual Report 2025 247

17.3 Loss carryforwards

Deferred tax assets and justifications for their treatment

At December 31, 2025, deferred tax assets were entered into the accounts as it is probable that tax entities will have enough taxable income to cover these assets for a maximum of 5 years. The recoverable nature of these deferred tax assets is assessed on the basis of business plans used for depreciation tests, adjusted for the specificities of each tax jurisdiction. The following companies have incurred a loss in the current or prior period and have future taxable earnings in excess of the earnings generated by the reversal of existing taxable temporary differences:

In France, €2.8 million in deferred tax assets were recognized at December 31, 2025. Unless the future outlook changes, the use of loss carryforwards for which a deferred tax asset has been recognized should continue until 2030, given the predicted performance of contracts in this region, which has reached a critical size.

Deferred tax assets recognized for a Spanish company amounted to €0.6 million at December 31, 2025. Unless the future outlook changes, the use of loss carryforwards for which a deferred tax asset has been recognized should continue until 2030.

Deferred tax assets for two Italian companies amounted to €1.7 million at December 31, 2025. Unless the future outlook changes, the use of loss carryforwards for which a deferred tax asset has been recognized should continue until 2030.

In Luxembourg, €7.1 million in deferred tax assets were recognized at December 31, 2025. Unless the future outlook changes, the use of loss carryforwards for which a deferred tax asset has been recognized should continue until 2030, given predictable business performance.

Deferred tax assets for one Belgian company amounted to €3.7 million at December 31, 2025. Unless the future outlook changes, the use of loss carryforwards for which a deferred tax asset has been recognized should continue until 2030, given the predicted performance of contracts in this region, which has reached a critical size.

Deferred tax assets for a Dutch company amounted to €0.9 million at December 31, 2025. Unless the future outlook changes, the use of loss carryforwards for which a deferred tax asset has been recognized should continue until 2030.

Capitalized loss carryforwards

At December 31, 2025, deferred tax assets for loss carryforwards amounted to €23.8 million, arising mostly from France, Germany, Luxembourg, and Belgium.

6 Non-capitalized loss carryforwards

At December 31, 2025, loss carryforwards for which no deferred tax asset has been recognized amounted to €206 million. They concern entities in Luxembourg, France, Spain, and Italy. There are no expiration dates, except for in Luxembourg, where the valid period is 17 years.

Note 18: Related parties

18.1 Related party disclosures

Note 21 presents the structure of the Group and all its subsidiaries. The following table shows transaction amounts with related parties.

	Telenet co- shareholder	Associates and joint ventures	Other related parties	Group Total
(In millions of euros)	2025	2024 restated	2025	2024 restated
Income
Services provided by the Group	159.7	128.6	—	—
Expenses
Services received by the Group	1.1	3.3	—	—
Loan
Amount loaned by the Group	15.4	8.2	—	—
Debt
Amounts due from the Group	2.1	2.5	—	—

All transactions with related parties are carried out under normal market conditions.

Nature of transactions and relationships with related parties:
Activities involving the Group and co-shareholder Telenet mostly concern revenue from the installation and maintenance of telecom networks operated by the Group.

“Other related parties” include:
* Transactions with minority shareholders
* Transactions with key members of management
* Transactions with non-consolidated companies.

Solutions30 | Annual Report 2025 248

18.2: Remuneration for members of corporate governance boards

Remuneration paid to members of the management and supervisory boards for their roles as directors and officers in accordance with their employment contracts amounted to €2.3 million (2024: €2.3 million). There are no retirement commitments other than those put forth in law for management and supervisory boards.

(In millions of euros)	2025	2024 restated
Fixed remuneration	1.4	1.4
Directors’ fees	0.4	0.4
Variable remuneration	0.2	0.4
Benefits in kind	0.1	0.1
6

Note 19: Auditors’ fees

	PKF Lux.	PKF Network	Other auditors	TOTAL
(In millions of euros)	2025	2024 restated	2025	2024 restated
Statutory auditor, certification, examination of individual and consolidated accounts	0.48	0.48	0.41	0.64
Services other than account certification	—	—	—	—
TOTAL	0.48	0.48	0.41	0.64

Note 20: Important events after the end of the reporting period

■ There were no significant events after the closing.

Note 21: Scope of consolidation

21.1 Reorganization of legal structures

The following operations were carried out in 2025:
■ On January 2, 2025, the Polish company TELEKOM USLUGI was merged into SOLUTIONS 30 TELECOM SPZOO.
■ On December 23, 2025, Solutions30 SE acquired 24% of the Dutch company Solutions30 Projects, increasing its stake to 100%.
■ As of December 1, 2025, the Group had acquired 49% of the French company Solutions30 Connect, increasing its stake to 100%.
■ The following company has changed its name:
■ SOLUTIONS 30 WSCHOD SPZOO was renamed SOLUTIONS 30 TELECOM SPZOO.

21.2 Subsidiary acquisitions

The Group records business combinations using the acquisition method when all the acquired activities and assets meet the definition of a business, whose control is transferred to the Group. To determine whether a given set of activities and assets constitutes a business, the Group evaluates whether the set includes, at a minimum, an input and an essential process, and if the acquired set of activities and assets has the capacity to produce goods or services. The consideration given is measured at its fair value, for example the net value of identifiable acquired assets. The Group evaluates minority interests based on their share of net assets and records goodwill based on the “Partial Goodwill” method. Any profit from acquisitions made under advantageous circumstances are immediately recorded as income. Acquisition costs are recorded as expenses. Any considerations are evaluated at their fair value on the date of acquisition. If the obligation to pay contingent consideration that meets the definition of a financial instrument has been categorized as equity, it is not reevaluated and its payment is accounted for as equity. If not, any other contingent considerations are reevaluated at fair value at the end of each reporting period and any changes in the fair values of the contingent considerations are recorded as income.

2 1.2.1 Acquisitions in 2025

In 2025, the Group carried out the acquisition transactions presented below. The purchase prices on these transactions have not been allocated as of December 31, 2025:

Solutions30 | Annual Report 2025 249
■ Solutions 30 Solaire
On April 1, 2025, the Group assumed control of Solutions 30 Solaire by acquiring an additional 50% of its share capital, thus increasing its stake to 60%, including the 10% already held. Solutions 30 Solaire is fully consolidated from this date. Solutions 30 Solaire specializes in the construction of photovoltaic power plants. Ultimately, based on the agreement between the acquiring shareholders, the Group will control 100% of the share capital within 5 years. The acquisition of 50% of the company’s shares totals €6.2 million, consisting of an upfront payment of €5.9 million and a deferred earnout of €0.3 million payable at a later date. Solutions 30 Solaire contributed €13 million to group revenue, while its impact on group income from the acquisition date to the end of the reporting period was €1.3 million. If this company had been acquired on the first day of the year, the subsidiary would have contributed €17 million to group revenue and its contribution to group income would have been €1.7 million.

■ Elektra Realizacje SPZOO
On July 23, 2025, the Group gained control of Elektra Realizacje SPZOO by acquiring 51% of its share capital. Elektra Realizacje SPZOO is fully consolidated starting from this date. This company specializes in modernizing low- and medium-voltage electrical grids, a key business as Poland ramps up its green energy transition. The company offers a comprehensive range of services, including transformer station replacement, switchgear dismantling and replacement, and electrical equipment maintenance. Ultimately, based on the agreement between the acquiring shareholders, the Group will control 100% of the share capital within 2 years. The purchase price for 51% of the company’s shares amounted to €0.2 million. Elektra Realizacje SPZOO Contributed €0.8 million to group revenue and €0.2 million to group income between the acquisition date and the end of the year. If this company had been acquired on the first day of the year, 6 the subsidiary would have contributed €1.6 million to group revenue and its contribution to group income would have been €0.7 million.# Solutions30 | Annual Report 2025 250

■ Acquired assets and liabilities: (In millions of euros)

	Solutions 30	Solaire (SoTec)	Elektra Realizacje SPZOO	TOTAL
Intangible assets	0.92	—	0.92
Property, plant and equipment	0.16	—	0.16
Right-of-use assets	1.45	0.03	1.48
Cash and cash equivalents	4.32	0.18	4.50
Trade receivables	6.47	0.13	6.60
Other current assets	0.24	0.02	0.27
Other non-current assets	0.06	—	0.06
Inventories	0.08	0.01	0.09
Total Assets	13.71	0.37	14.07
Trade debts	1.34	0.12	1.46
Other current liabilities	3.94	0.03	3.97
Other non-current liabilities	0.16	—	0.16
Lease liabilities	1.45	0.03	1.48
Deferred tax liabilities	0.23	—	0.23
Total equity and liabilities	7.12	0.17	7.29
Total net assets at fair value	6.59	0.20	6.78
Share of minority interests in identifiable net assets	(2.63)	(0.10)	(2.73)
Goodwill	3.48	0.11	3.59
Earnouts	(0.25)	—	(0.25)
Fair value of previous investments	(1.24)	—	(1.24)
Purchase price	5.94	0.21	6.15
Acquisitions of subsidiaries, net of cash received	1.62	0.03	1.65

6 21.3 Discontinued Operations

■ Deconsolidation of the United Kingdom:

In November 2025, the Group approved the voluntary receivership of its subsidiary « Solutions30 UK » owned and based in the United Kingdom. This decision was taken in view of the definitive discontinuation of the sub-group’s operations, which had become unprofitable, as well as the absence of short or medium term development prospects. The court’s appointment of administrators became effective on November 11, 2025, resulting in the loss of control and the deconsolidation of Solutions 30 UK Holding, Comvergent Holding, Solutions 30 UK, and Solutions 30 UK Services. The deconsolidation of these UK companies meets the IFRS 5 criteria for discontinued operations. A discontinued operation refers to a component that the Group has divested, representing a major and distinct business segment or geographic area. Consequently, the loss from the deconsolidation of UK operations, as well as the current income totaling €10.8 million, has been presented under « Net income from discontinued operations ».

■ Divestiture of the telecom business in Spain

As of December 19, 2025, the Group has divested the telecom operations of Solutions 30 Iberia, also known as « S30 Spain ». The sale of the telecom business’ assets and liabilities meets IFRS 5 criteria for discontinued operations. A divested operation refers to a component that the Group has sold off, representing a major and distinct business segment or geographic area. Consequently, the loss from the deconsolidation of the telecom business in Spain, along with the current income totaling €6.3 million, has been presented under « Net income from discontinued operations ». The net income from discontinued operations, the deconsolidated assets and liabilities, and the cash flows related to discontinued operations are presented in the tables below.

Solutions30 | Annual Report 2025 251

■ Net income from discontinued operations:
(In millions of euros)

	S30 Spain	Solutions30 UK	2025 TOTAL
Revenue	9.7	14.8	24.5
Operating expenses	(11.0)	(27.4)	(38.4)
Financial expenses	(0.1)	(1.4)	(1.5)
Pre-tax income from discontinued operations	(1.4)	(14.0)	(15.4)
Taxes	—	2.6	2.6
Total current net income from discontinued operations	(1.4)	(11.4)	(12.8)
Profit on deconsolidation from the United Kingdom	—	0.6	0.6
Loss on deconsolidation of the telecom business in Spain	(4.9)	—	(4.9)
Losses on deconsolidation	(4.9)	0.6	(4.3)
Net income from discontinued operations	(6.3)	(10.8)	(17.1)

(In millions of euros)

	S30 Spain	Solutions30 UK	2024 TOTAL
Revenue	23.8	29.1	52.9
Operating expenses	(30.0)	(33.1)	(63.1)
Financial expenses	(0.3)	0.8	0.5
Pre-tax income from discontinued operations	(6.5)	(3.2)	(9.7)
Taxes	—	0.3	0.3
Total current net income from discontinued operations	(6.5)	(2.9)	(9.4)
Net income from discontinued operations	(6.5)	(2.9)	(9.4)

Solutions30 | Annual Report 2025 252

■ Loss on deconsolidation
(In millions of euros)

	S30 Spain	Solutions30 UK	2025 TOTAL
Intangible assets	3.3	—	3.3
Property, plant and equipment	0.1	0.5	0.6
Right-of-use assets	—	0.3	0.3
Cash and cash equivalents	—	0.1	0.1
Trade receivables	2.5	1.6	4.1
Other current assets	—	1.1	1.1
Inventories	0.4	—	0.4
Deferred tax assets	—	1.4	1.4
Total Assets	6.3	5.0	11.3
Trade debts	—	2.1	2.1
Other current liabilities	—	3.2	3.2
Other non-current liabilities	—	—	—
Lease liabilities	—	0.3	0.3
Deferred tax liabilities	0.8	—	0.8
Debts owed to the Group	—	23.5	23.5
Total equity and liabilities	0.8	29.0	29.9
Book value of deconsolidated net assets	(5.5)	24.0	18.6
Sale price / Fair value of anticipated proceeds from liquidation	0.6	—	0.6
Loss on receivables from deconsolidated companies $^{(1)}$	—	(23.5)	(23.5)
Loss on deconsolidation	(4.9)	0.6	(4.3)
Change in cash flow related to deconsoliation	0.6	(0.1)	0.5

6 $^{(1)}$ Impact of intragroup financing S30 UK: Prior to the voluntary liquidation of the S30 UK subgroup, the parent company Solutions30 SE had provided the subsidiary Solutions30 UK with intra-group financing in the form of a loan. On a consolidated level, this receivable was offset against the corresponding intragroup liability recorded in the subsidiary’s liabilities. Following the loss of control on November 11, 2025, the Group recognized a bad debt expense of €23.47 million. As part of determining the disposal result of the S30 UK sub-group, the Group presented the impact of this receivable loss together with the other effects arising from the loss of control. This presentation is intended to appropriately reflect the overall economic impact of the sub-group’s disposal, given that the corresponding intragroup liability was included in the liabilities of the subsidiary derecognized from the scope of consolidation.

Solutions30 | Annual Report 2025 253

■ Restated 2024 consolidated earnings:
In accordance with IFRS 5 provisions, the 2024 income statement has been restated to reflect the classification of the United Kingdom and telecoms business in Spain as discontinued operations. The income from discontinued and divested operations is now presented under the dedicated line “Net income from discontinued operations.”

Restated 2024 net income
(In millions of euros)

	2024 reported	IFRS 5 reclassifications -United Kingdom-	IFRS 5 reclassifications -Spain-	2024 restated
Revenue	996.0	(29.1)	(23.8)	943.0
Other current operating income	21.3	—	—	21.3
Raw materials, goods and consumables	(97.9)	0.2	6.4	(91.4)
Employee costs	(237.5)	5.3	8.1	(224.1)
Payroll taxes, taxes, duties, and similar payments	(64.2)	0.1	3.0	(61.1)
Other current operating expenses	(542.5)	22.2	7.2	(513.1)
Operating margin (Adjusted EBITDA)	75.1	(1.3)	0.8	74.6
Depreciation, amortization and impairment of fixed assets	(64.7)	2.3	1.5	(60.9)
Charges to and reversals of provisions	3.6	—	—	3.6
Other non-recurring operating income	2.2	—	—	2.2
Other non-recurring operating expenses	(15.5)	2.9	3.8	(8.8)
Operating income	0.6	4.0	6.1	10.7
Financial income	3.0	(1.1)	(0.1)	1.8
Financial expenses	(17.7)	0.3	0.4	(17.0)
Net financial income	(14.7)	(0.8)	0.3	(15.2)
Income taxes	(1.4)	(0.3)	—	(1.7)
Income from associates	0.4	—	—	0.4
Net income from continuing operations	(15.1)	2.9	6.4	(5.7)
Net income from discontinued operations	—	(2.9)	(6.4)	(9.4)
Consolidated net income	(15.1)	—	—	(15.1)

6

Solutions30 | Annual Report 2025 254

■ Restated 2024 consolidated statement of cash flows:
In accordance with IFRS 5, the 2024 consolidated statement of cash flows has been restated to reflect the classification of the United Kingdom and the telecom business in Spain as discontinued and divested operations. Cash flows related to discontinued operations are now presented as dedicated line items.

(In millions of euros)

	2024 reported	IFRS 5 reclassifications -United Kingdom-	IFRS 5 reclassifications -Spain-	2024 restated
CONSOLIDATED NET INCOME	(15.1)	—	—	(15.1)
Net income, group share	(15.8)	—	—	(15.8)
Net income, minority interests	0.7	—	—	0.7
Non-monetary items from continuing operations:
Depreciation, amortization and impairment	64.7	(2.3)	(1.5)	60.9
Allocations to provisions	(3.6)	—	—	(3.6)
Elimination of deferred taxes	(8.2)	0.3	—	(7.9)
Elimination of current taxes	9.6	—	—	9.6
Elimination of income from associates	(0.4)	—	—	(0.4)
Change in fair value of derivatives	0.1	—	—	0.1
Change in fair value of options and earnouts	(1.1)	—	—	(1.1)
Elimination of interest expenses	10.5	—	(0.1)	10.3
Non-monetary items from discontinued operations:
Depreciation, amortization and impairment from discontinued operations	—	2.3	1.5	3.8
Allocations to provisions for discontinued operations	—	—	—	0.1
Change in deferred taxes for discontinued operations	—	(0.3)	—	(0.3)
Elimination of interest expenses for discontinued operations	—	—	0.1	0.2
Operating cash flow from consolidated companies	56.6	—	—	56.6
Change in working capital requirements for operations	1.6	—	—	1.6
Components of continuing operations:
Decrease (increase) in inventory	1.8	—	(1.2)	0.6
Increase in trade receivables and related accounts and other receivables	(8.1)	(3.9)	(1.7)	(13.7)
Increase (Decrease) in trade & other payables	(29.4)	1.6	—	(27.8)
Changes in other receivables and debts	48.8	0.4	(0.5)	48.7
Corporate tax paid	(11.4)	—	—	(11.4)
Components of discontinued operations:
Change in working capital requirements related to discontinued operations	—	1.9	3.4	5.3
Net cash flows from operating activities	58.2	—	—	58.2
Of which, cash flows related to continuing operations	58.2	(0.9)	(0.7)	56.5
Of which, cash flows related to discontinued operations	—	0.9	0.7	1.6
CASH FLOW FROM INVESTING ACTIVITIES
Components of continuing operations:
Acquisition of non-current assets	(18.2)	0.3	—	(17.9)
Acquisition of associate companies	(0.1)	—	—	(0.1)
Acquisitions of minority interests and earnouts paid	(3.5)	—	—	(3.5)
Acquisition and disposal of non-current financial assets	(0.4)	—	—	(0.4)
Disposal of non-current assets after tax	0.7	—	—	0.7
Components of discontinued operations:
Acquisition of fixed assets related to
Net cash flow from investing activities (21.6) — — (21.6)
Of which, cash flows related to continuing operations (21.6) 0.3 — (21.3)
Of which, cash flows related to discontinued operations — (0.3) — (0.3)

6 Solutions30 | Annual Report 2025 255

(In millions of euros)	2024 reported	IFRS 5 reclassifications -United Kingdom-	IFRS 5 reclassifications -Spain-	2024 restated
CASH FLOW FROM FINANCING ACTIVITIES
Components of continuing operations:
Loan issuance	7.9	—	—	7.8
Loan repayment	(22.2)	—	2.2	(20.0)
Interest paid on borrowings	(6.9)	—	0.1	(6.8)
Debt issuance costs	(1.9)	—	—	(1.9)
Repayment of lease liabilities	(31.1)	0.4	0.8	(30.0)
Interest paid on lease liabilities	(3.2)	—	—	(3.2)
Components of discontinued operations:
Loan issuance related to discontinued operations	—	—	—	—
Loan repayment related to discontinued operations	(2.2)	—	—	(2.2)
Interest paid on borrowings related to discontinued operations	(0.1)	—	—	(0.1)
Repayment of lease liabilities related to discontinued operations	—	(0.4)	(0.8)	(1.1)
Interest paid on lease liabilities related to discontinued operations	—	—	—	—
Net cash flow from financing activities	(57.4)	—	—	(57.4)
Of which, cash flows related to continuing operations	(57.4)	0.4	3.1	(54.0)
Of which, cash flows related to discontinued operations	—	(0.4)	(3.1)	(3.4)
Impact of currency exchange rate fluctuations on continuing operations	(1.1)	1.0	—	(0.1)
Impact of currency exchange rate fluctuations on discontinued operations	—	(1.0)	—	(1.0)
NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS	(22.0)	—	—	(22.0)
Opening cash balance	118.2			118.2
Closing cash balance	96.3			96.2

6 Solutions30 | Annual Report 2025 256

21.4 Other changes in scope of consolidation 2025

In May 2025, the Group approved the voluntary liquidation of the “Xperal” sub-group, owned and based in the Netherlands. This decision was taken in view of the definitive discontinuation of the sub-group’s operations, which had become unprofitable, and the absence of short- or medium-term development prospects. The effective date of the liquidation was May 28, 2025, resulting in the loss of control of the Louwers Beheer BV company and consequently, the deconsolidation of this company and its subsidiaries XPERAL BV, Astra Solar BV, Louwers Installatie BV and Louwers Onroerend Goed BV. The liquidation loss amounted to €0.1 million and is presented under “Other non-recurring operating expenses.” The assets and liabilities of Xperal and its subsidiaries as of the date of loss of control are presented in the table below:

6 (In millions of euros)	Xperal
Assets
Intangible assets	0.45
Property, plant and equipment	0.20
Cash and cash equivalents	0.03
Trade receivables	0.19
Other current assets	0.76
Inventories	0.53
Deferred tax assets	0.45
Total Assets	2.60
Liabilities
Trade debts	0.74
Other current liabilities	1.31
Other non-current liabilities	0.18
Total Liabilities	2.23
Book value of liquidated subsidiaries’ net assets	0.38
Goodwill	0.64
earnout	(0.95)
Net loss on the loss of control of Xperal recognized in net income	0.07
Change in cash and cash equivalents due to deconsolidation	(0.03)

Solutions30 | Annual Report 2025 257

21.5 List of consolidated entities

The table below presents the list of consolidated companies, including percentages of indirect control, ownership stakes, and consolidation methods:

Country	Company and legal form	Integration method	% indirect control December 31, 2025	% stake at December 31, 2025
Luxembourg	Solutions30 SE	Parent company	Parent company	Parent company
Germany	Solutions30 Holding GmbH	Fully consolidated	100%	100%
Germany	Solutions30 Field Services Gmbh	Fully consolidated	100%	100%
Germany	Solutions30 Gmbh	Fully consolidated	100%	100%
Germany	Solutions30 Operations GmbH	Fully consolidated	100%	100%
Germany	Solutions30 Field Services Sud Gmbh	Fully consolidated	100%	100%
Germany	Worldlink Gmbh	Fully consolidated	100%	100%
Belgium	Unit-T	Fully consolidated	70%	70%
Belgium	Brabamij Technics BV	Fully consolidated	70%	70%
Belgium	Brabamij Infra BV	Fully consolidated	70%	70%
Belgium	Unit-T Certified Service	Fully consolidated	70%	70%
Belgium	Business Solutions30 Belgium B.V.	Fully consolidated	100%	100%
Belgium	Solutions30 Belgium Networks	Fully consolidated	100%	100%
Belgium	Solutions30 Belgium	Fully consolidated	100%	100%
Belgium	UNIT-T Field Services BVBA	Fully consolidated	70%	70%
Belgium	ICT Field Services BVBA	Fully consolidated	70%	70%
Belgium	TM BRABAMIJ - UNIT-T	Fully consolidated	70%	70%
Spain	Solutions30 Iberia	Fully consolidated	100%	100%
Spain	Provisiona Ingenieria	Fully consolidated	100%	100%
Spain	Solutions30 Iberia Seguridad SL	Fully consolidated	100%	100%
France	SOLUTIONS 30 ETC	Fully consolidated	100%	100%
France	Telima Infoservices	Fully consolidated	100%	100%
France	FORM@HOME	Fully consolidated	100%	100%
France	Frepart	Fully consolidated	100%	100%
France	Telima Nord	Fully consolidated	100%	100%
France	Telima Onsite	Fully consolidated	100%	100%
France	SFM30	Fully consolidated	100%	100%
France	Solutions30 IT France	Fully consolidated	100%	100%
France	Solutions30 Sud-Est	Fully consolidated	100%	100%
France	Telima Professional Services	Fully consolidated	100%	100%
France	Solutions30 Martinique	Fully consolidated	100%	100%
France	Solutions30 Guyane	Fully consolidated	100%	100%
France	Solutions30 Energies	Fully consolidated	100%	100%
France	Byon	Fully consolidated	100%	100%
France	Byon Connect	Fully consolidated	100%	100%
France	MySupplace France	Fully consolidated	100%	100%
France	Solutions30 Guadeloupe	Fully consolidated	100%	100%
France	Alphane Dépannage Distribution (ADEDIS)	Fully consolidated	100%	100%
France	Digitilab	Fully consolidated	100%	100%
France	Solutions30 Academy	Fully consolidated	100%	100%
France	Solutions30 GSE	Fully consolidated	100%	100%
France	Solutions30 LiftTech	Fully consolidated	100%	100%
France	Solutions30 TP	Fully consolidated	100%	100%
France	Solutions30 Grand Sud-Ouest	Fully consolidated	100%	100%
France	Solutions30 Connect	Fully consolidated	51%	51%
France	Solutions30 Solaire	Fully consolidated	60%	60%
France	SO-TEC	Fully consolidated	60%	60%
Italy	Solutions30 Italia	Fully consolidated	100%	100%
Italy	Imatel Service	Fully consolidated	100%	100%
Italy	Piemonte	Fully consolidated	100%	100%
Italy	Solutions30 Consortile	Fully consolidated	73%	73%
Italy	CONTACT 30	Fully consolidated	100%	100%
Italy	Algor	Fully consolidated	80%	80%
Italy	CFC Italia	Fully consolidated	100%	100%
Italy	Telima. C	Fully consolidated	100%	100%
Luxembourg	Smartfix 30	Fully consolidated	100%	100%
Luxembourg	Solutions30 Luxembourg	Fully consolidated	100%	100%
6 Solutions30	Annual Report 2025 258
Country	Company and legal form	Integration method	% indirect control December 31, 2025	% stake at December 31, 2025
Morocco	SOL30MAROC	Fully consolidated	100%	100%
Netherlands	Business Solutions30 Holland	Fully consolidated	100%	100%
Netherlands	Solutions30 Netherlands	Fully consolidated	100%	100%
Netherlands	I-Holding	Fully consolidated	100%	100%
Netherlands	Solutions30 Projects	Fully consolidated	100%	100%
Poland	Solutions30 Holding	Fully consolidated	100%	100%
Poland	Solutions30 Wschod	Fully consolidated	100%	100%
Poland	Solutions30 Mobile	Fully consolidated	100%	100%
Poland	Elektra Realizacje Sp. Zo.o.	Fully consolidated	51%	51%
Portugal	Solutions30 Portugal	Fully consolidated	100%	100%
Portugal	Byon Solutions	Fully consolidated	100%	100%
Portugal	Solutions30 Prazo Elevators	Fully consolidated	51%	51%
Tunisia	Telima Tunisie	Fully consolidated	100%	100%
6 Solutions30	Annual Report 2025 259

6.3 Independent Authorized Auditor’s Report

INDEPENDENT AUDITOR’S REPORT

To the shareholders of Solutions 30 SE
21, rue du Puits Romain
L-8070 Bertrange

Audit Report on the Consolidated Financial Statements

Opinion

We have audited the consolidated financial statements of Solutions 30 SE and its subsidiaries (the “Group”) which comprise the consolidated statement of financial position as at 31 December 2025 and the consolidated statement of comprehensive income, consolidated statement of equity and consolidated statement of cash flows for the year then ended, and notes to the consolidated financial statements, including a summary of significant accounting policies.

In our opinion, the accompanying consolidated financial statements present fairly, in all material respects, the consolidated financial position of the Group as at 31 December 2025, and its consolidated financial performance and its consolidated cash flows for the year then ended in accordance with IFRS Accounting Standards as adopted by the European Union.

Basis for opinion

We conducted our audit in accordance with the EU Regulation N° 537/2014, the Law of 23 July 2016 on the audit profession (“Law of 23 July 2016”) and with International Standards on Auditing (“ISA”) as adopted for Luxembourg by the “Commission de Surveillance du Secteur Financier” (“CSSF”). Our responsibilities under the EU regulation No 537/2014, the Law of 23 July 2016 and ISA as adopted for Luxembourg by the CSSF are further described in the « Responsibilities of the “réviseur d’entreprises agréé” for the audit of the consolidated financial statements » section of our report. We are also independent of the Group in accordance with the International Code of Ethics for Professional Accountants, including International Independence Standards, issued by the International Ethics Standards Board for Accountants (IESBA Code) as adopted for Luxembourg by the CSSF together with the ethical requirements that are relevant to our audit of the consolidated financial statements, and have fulfilled our other ethical responsibilities under those ethical requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Material Uncertainty Related to Going Concern

We draw attention to Note 2.3 Basis of preparation of the consolidated financial statements.The note states that, following the losses recognized in 2025, the Group performed an analysis of several scenarios regarding the future development of its operations. These events and conditions, taken together, indicate that a material uncertainty exists that may cast significant doubt on the Group’s ability to continue as a going concern. Our opinion is not modified in respect of this matter.

Key audit matters

Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the consolidated financial statements of the current period. These matters were addressed in the context of the audit of the consolidated financial statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters. In addition to the matter described in the Material Uncertainty Related to Going Concern section, we have determined the matters described below to be the key audit matters to be communicated in our report.

Valuation of goodwill and other intangible assets

On 31 December 2025, goodwill and other intangible assets amount to EUR 58.9 million and EUR 71.4 million respectively (representing 9% and 11% of total assets). These fixed assets are detailed in notes 14.1 and 14.2. These fixed assets are tested as soon as there is an indication of a possible impairment and on the first consolidation of a newly acquired subsidiary. In addition, the impairment test of goodwill is performed at the end of each financial period. For the purposes of these impairment tests, the assets are gathered into Cash Generating Units ("CGUs"). CGUs are based on geographical areas and as at 31 December 2025 the Group recognized six CGUs. Solutions30 | Annual Report 2025 260 The Group values assets and liabilities acquired during a business combination at their acquisition-date fair value, which includes the valuation of customer relationships. We considered the determination of the value-in-use of these assets to be a key audit matter given their importance in the Group's accounts and as the determination of their value-in-use, based on discounted cash flow forecasts, requires the use of assumptions and estimates that depend on management’s judgment.

How our audit addressed the key audit matter

Our work included the following procedures:
* Assess the appropriateness of management's approach to determine CGUs for which goodwill and other intangible assets are tested by the Group;
* Obtain the value-in-use model, verify its mathematical accuracy, compare the value-in-use with the carrying amount and review the computation of the impairment tests performed by an external expert;
* Assess the consistency of the business planning process for each CGU and analyze the consistency of projections and assumptions made by management for these plans by comparing them with previous plans and comparing the latter with actual results for the years concerned;
* Assess the reasonableness of the discount rates applied to the estimated cash flows by reviewing, in particular, whether the weighted average cost of capital elements for each CGU are consistent with market rates;
* Evaluate the results of the sensitivity analyses on discount rates and long-term growth rates and review the accuracy of the information given in notes 14.1 and 14.2.

Recognition of deferred taxes relating to tax losses carried forward

As of 31 December 2025, an amount of EUR 19.4 million was recognized in the consolidated financial statements as deferred tax assets relating to tax losses carried forward. As indicated in note 17.3 "Loss carryforwards" to the consolidated financial statements, deferred tax assets relating to loss carryforwards are recognized to the extent that it is probable that a future taxable profit will make it possible to recover them, the recoverability being assessed in particular with regard to a business plan used for the impairment tests. We considered the recognition of deferred tax assets relating to tax loss carryforwards to be a key audit matter given the significant degree of judgment regarding the ability of the Group's entities to achieve the results set out in the business plan.

How our audit responded to this key point

We assessed the probability to recover deferred tax assets relating to tax losses carried forward. Our work mainly consisted of:
* Assess the appropriateness of the methodology used by management to identify the tax loss carryforwards that the Group intends to utilize;
* Assess the process for developing and approving the business plan justifying the ability of each entity to generate future taxable profits to utilize tax loss carryforwards;
* Analyze the length of the forecast periods retained by management to utilize tax loss carryforwards;
* Assess the reasonableness of the assumptions made by management in the business plan prepared for each tax entity, by comparing with the business plans prepared for the valuation of goodwill and other intangible assets described in the key audit matter above;
* Assess the appropriateness of the information presented in note 17 "Income tax”.

Other information

The Management Board is responsible for the other information which is approved by the Supervisory Board. The other information comprises the information stated in the management report and the corporate governance statement but does not include the consolidated financial statements and our report of the “réviseur d’entreprises agréé” thereon. Our opinion on the consolidated financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. In connection with our audit of the consolidated financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the consolidated financial statements, or our knowledge obtained in the audit or otherwise appears to be materially misstated. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report this fact. We have nothing to report in this regard.

Responsibilities of the Management Board and those charged with governance for the consolidated financial statements

The Management Board is responsible for the preparation and fair presentation of the consolidated financial statements in accordance with IFRS Accounting Standards as adopted by the European Union, and for such internal control as the Management Board determines is necessary to enable the preparation of consolidated financial statements that are free from material misstatement, whether due to fraud or error. Solutions30 | Annual Report 2025 261 In preparing the consolidated financial statements, the Management Board is responsible for assessing the Group’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Management Board either intends to liquidate the Group or to cease operations or has no realistic alternative but to do so. Those charged with governance are responsible for overseeing the Group’s financial reporting process. The Management Board is responsible for presenting and marking up the consolidated financial statements in compliance with the requirements set out in the Delegated Regulation 2019/815 on European Single Electronic Format (“ESEF Regulation”).

Responsibilities of the “réviseur d’entreprises agréé” for the audit of the consolidated financial statements

The objectives of our audit are to obtain reasonable assurance about whether the consolidated financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a report of the “réviseur d’entreprises agréé” that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with the EU Regulation N° 537/2014, the Law of 23 July 2016 and with ISA as adopted for Luxembourg by the CSSF will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated financial statements. As part of an audit in accordance with the EU Regulation N° 537/2014, the Law of 23 July 2016 and with ISAs as adopted for Luxembourg by the CSSF, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:
* Identify and assess the risks of material misstatement of the consolidated financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control;
* Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Group’s internal control;
* Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Management Board;
* Conclude on the appropriateness of the Management Board’s use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Group’s ability to continue as a going concern.If we conclude that a material uncertainty exists, we are required to draw the attention of the readers of our report to the information provided in the consolidated financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our report of the “réviseur d’entreprises agréé”. However, future events or conditions may cause the Group to cease to continue as a going concern;
* Evaluate the overall presentation, structure and content of the consolidated financial statements, including the disclosures, and whether the consolidated financial statements represent the underlying transactions and events in a manner that achieves fair presentation;
* Obtain sufficient appropriate audit evidence regarding the financial information of the entities and activities within the Group to express an opinion on the consolidated financial statements.

We are responsible for the direction, supervision and performance of the Group audit. We remain solely responsible for our audit opinion. Our responsibility is to obtain sufficient appropriate evidence to conclude that the format and mark-up of the digital consolidated financial statements comply, in all material respects, with the requirements set out in the ESEF Regulation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence and communicate to them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards or actions taken to eliminate threats or safeguards applied. From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the consolidated financial statements of the current period and are therefore the key audit matters. We describe these matters in our report unless law or regulation precludes public disclosure about the matter.

Report on other legal and regulatory requirements

We have been appointed as “réviseur d’entreprises agréé” by the General Meeting of Shareholders on Solutions30 | Annual Report 2025 262 17 June 2025 and the duration of our uninterrupted engagement, including previous renewals and reappointments, is five years.

The management report is consistent with the consolidated financial statements and has been prepared in accordance with applicable legal requirements. The corporate governance statement is included in the management report.

The information required by Article 68ter paragraph (1) letters c) and d) of the law of 19 December 2002 on the commercial and companies register and on the accounting records and annual accounts of undertakings, as amended is consistent with the consolidated financial statements and has been prepared in accordance with applicable legal requirements.

We have checked the compliance of the consolidated financial statement of the Group as at 31 December 2025 with relevant requirements set out in the ESEF Regulation that are applicable to the consolidated financial statements. For the Group it relates to:
* The consolidated financial statements are prepared in a valid XHTML format;
* The XBRL markup of the consolidated financial statements uses the core taxonomy and the common rules on markups specified in the ESEF Regulation.

In our opinion, the consolidated financial statements of the Group as at 31 December 2025, identified as «solutions30-2025-12-31-EN.zip» have been prepared, in all material respects, in compliance with the requirements laid down in the ESEF Regulation.

We confirm that the audit opinion is consistent with the additional report to those charged with governance. We confirm that the prohibited non-audit services referred to in the EU Regulation No 537/2014 were not provided and that we remained independent of the Group in conducting the audit.

Luxembourg, 30 March 2026

PKF Audit & Conseil Sàrl
Cabinet de révision agréé

Jean Medernach

This is a translation into English of the independent auditor’s report on consolidated financial statements issued in French.

Solutions30 | Annual Report 2025 263

7 SHAREHOLDER STRUCTURE AND ADDITIONAL INFORMATION

264 7.1 General Information Concerning the Company 265
7.2 Memorandums and Articles of Association 267
7.3 Share Capital 269
7.4 Shareholding 270
7.5 Stock Market Listing 271
7.6 Financial Communication 271
7.7 Person Responsible for the Document

Solutions30 | Annual Report 2025 264

7. SHAREHOLDER STRUCTURE AND ADDITIONAL INFORMATION

7.1 General Information Concerning the Company

7.1.1 Corporate name and trade name

Solutions 30 SE

7.1.2 Location, registration number, and legal entity identifier

The company is a European company (SE) established in Luxembourg on August 1, 2013, and incorporated with the Luxembourg Register of Commerce and Companies under the number B 179.097. Its LEI number is 2221003G8BRH3CPABK72.

7.1.3 Date of incorporation and duration (Article 3 of the Articles of Association)

The company was incorporated on October 22, 2003, for an unlimited period of time in accordance with Article 3 of the company’s articles of association, which states, in its English version, that:

« 3.1 The Company is established for an unlimited period of time.
3.2 The Company may be dissolved, at any time with or without cause, by a resolution of the general meeting of shareholder(s) of the Company adopted in the manner required for the amendment of the Articles, in accordance with article 18 of these Articles. »

7.1.4 Other information

• Registered office, legal form, country of origin, address and telephone number of its registered office, and website

The company was incorporated in France in the form of a limited liability company by private agreement at La Garenne Colombes on October 22, 2003, and was registered with the Paris Trade and Companies Register (RCS) under identification number 450 689 625. It was transformed into a société anonyme (French public limited company) with a management board and a supervisory board following the decision of the partners during the extraordinary general meeting on May 26, 2005. The company was subsequently transferred as a European company (SE) to Luxembourg on August 1, 2013, and incorporated with the Trade and Companies Register in Luxembourg under the number B 179.097.

The registered office is located at 21, rue du Puits Romain, L-8070 Bertrange, Grand Duchy of Luxembourg.

• Legislation governing the company’s activities

Solutions30 is a European company under Luxembourg law, governed under the SE Regulation, the Law of 1915, and its own Articles of Association

• Fiscal year

The fiscal year begins on January 1st and ends on December 31st.

• Publicly available documents and website.

Legal documents regarding the company can be consulted at the registered office (21, rue du Puits Romain, L-8070 Bertrange, Grand Duchy of Luxembourg). Regulated information, whether permanent, periodic or occasional, may be consulted on the company’s website: www.solutions30.com, “Investors” section.

Solutions30 | Annual Report 2025 265

7.2 Memorandums and Articles of Association

7.2.1 Corporate purpose of Solutions30

Article 4 of Solutions30’s Articles of Association:

« 4.1 The corporate object of the Company is:
4.1.1 the trading of electronic products used by private individuals and professionals, under all its forms as well as all ancillary or related activities, delivery, installation, troubleshooting, training;
4.1.2 the creation, design and marketing of websites;
4.1.3 all services related to micro-communicating office automation and multimedia;
4.1.4 the creation, acquisition, exchange, purchase, sale, operation of any goodwill related to the above activity or to similar or complementary activities, and that any participation or acquisition of interests in activities of the same nature through contributions, share subscriptions, acquisitions of business assets, mergers, purchases of securities or otherwise;
4.1.5 and more generally all operations of any nature whatsoever, legal, economic and financial, civil and commercial, relating to the above-mentioned object or to any other similar or related object, likely to directly or indirectly promote the aim pursued by the Company, its extension or its development.

4.2 In addition to the above, the company, in order to legitimately achieve its corporate purpose, may:
4.2.1 create, acquire, sell, exchange, take or lease, with or without a commitment to sale, manage and operate, directly or indirectly, all establishments and premises, all movable and material objects;
4.2.2 obtain or acquire all patents, licenses, processes and trademarks, exploit them, transfer or contribute, grant all operating licenses in any country concerning these activities;
4.2.3 participate, by any means, directly or indirectly, in any transactions that may relate to its corporate purpose by way of the creation of new companies, contributions, subscriptions or purchases of securities or corporate rights, mergers or otherwise, the creation, acquisition, leasing or management of any business;
4.2.4 act, directly or indirectly, on its own behalf or on behalf of third parties, either alone or in association, participation or company, with any other company or natural or legal person and carry out, directly or indirectly, in the Grand-Duchy of Luxembourg or abroad in any form whatsoever the transactions falling within its corporate object. »# 4.3 The Company may borrow money in any form or obtain credit facility and raise funds through, including but not limited to, the issue of bonds, notes, promissory notes, certificates and other debts or equity instruments, convertible or not, or the use of financial derivatives or otherwise; and enter into any guarantee, pledge or any other form of security, whether by personal covenant or by mortgage or charge upon all or part of the undertaking, property assets (present or future) or by all or any of such methods, for the performance of any contracts or obligations of the Company.

4.4 In addition to the foregoing, the Company may realize its corporate object either directly or through the creation of companies, the acquisition, holding or acquisition of interests in any other companies, partnerships, memberships in associations, consortia and joint ventures.

4.5 In general, the Company’s corporate object comprises the participation, in any form whatsoever, in companies and partnerships, and the acquisition by purchase, subscription or in any other manner as well as transfer by sale, exchange or in any other manners of shares, bonds, debt securities, warrants and other securities and instruments of any kind.

4.6 It may grant assistance to any affiliated company and take any measure for the control and supervision of such companies.

4.7 It may carry out all legal, commercial, technical and financial transactions and, in general, all transactions which are necessary or useful to fulfil its corporate object as well as transactions directly or indirectly connected with the areas described above in order to facilitate the accomplishment of its corporate object in all areas described above.”

7.2.2 Classes of shares

The shares will be registered or bearer shares. However, shares must remain registered until they are fully paid up.

7.2.3 Conditions that may defer, delay, or prevent a change of control

The company’s articles of association do not contain any provisions enabling a change of control to be delayed, deferred or prevented.

7.2.4 General meetings

• Notice and place of meeting

General meetings shall be convened under the conditions, in the form and within the time limits provided for by Law 1915 and the Law of May 24, 2011, on the exercise of certain rights of shareholders in general meetings of listed companies and transposing Directive 2007/36/EC of the European Parliament and of the Council of July 11, 2007, on the exercise of certain rights of shareholders of listed companies (the Law 2011). They are held at the company’s registered office in the Grand-Duchy of Solutions30 | Annual Report 2025 266 Luxembourg or at any other location in the Grand-Duchy of Luxembourg as specified in the notice of meeting.

Notices of general meetings shall be made by means of announcements inserted in the Luxembourg Trade and Companies Register and published at least thirty (30) days before the general meeting in the Recueil électronique des sociétés et associations (RESA) and in a Luxembourg newspaper, as well as in a medium which can reasonably be expected to disseminate information effectively to the public throughout the European Economic Area and which is accessible rapidly and in a non-discriminatory manner.

Notices of all general meetings of shareholders shall contain the information required by Law 2011.

Notices of meeting shall be sent, in accordance with the above-mentioned notice periods, to the shareholders in name. Such communication shall be made by registered letter unless the addressees have individually, expressly and in writing, agreed to receive the notice of meeting by another means of communication, without it being necessary to prove that this formality has been complied with.

A press release containing the date, time, and place of the general meeting - as well as the procedures for the provision of preparatory documents for the general meeting - is effectively and fully distributed and published on the company’s website. The notice of meeting detailing the agenda is also made available on the company’s website.

• Agenda

The agenda for all general meetings is included in the notices of meeting; it is set by the author of the notice. One or more shareholders, together holding at least five (5) percent of the company’s share capital, may request the inclusion of items or draft resolutions on the agenda. The request referred to above shall be accompanied by a justification or a draft resolution to be adopted at the general meeting and must reach the company in writing, by post or electronically, no later than the twenty-second (22nd) day before the date of the general meeting.

The general meeting may not deliberate on a question that is not on the agenda, except in exceptional circumstances in the event of an emergency that could jeopardize the company and that would therefore necessitate that a decision be made immediately. If the general meeting is reconvened for lack of a quorum at the first meeting, notice of the reconvened meeting must be published at least seventeen (17) days before the date of the meeting, provided that the first meeting satisfied the requirements set out in the Law of 2011 and no new business was added to the agenda.

• Access to general meetings

In accordance with legal and statutory provisions, all shareholders have the right to participate in general meetings and deliberations in person or by proxy, regardless of the number of shares they hold, upon simply presenting proof of identity, provided that their shares are paid up and have been registered in their name or in the name of the intermediary registered on their behalf on the record date (as defined below).

In accordance with the company’s articles of association, the record date for the general meeting is the fourteenth (14th) day at midnight (12:00 am Luxembourg time) preceding the date of the general meeting (the record date). Shareholders must inform the company of their intention to participate in the general meeting in writing, by mail or electronically, at the postal or electronic address indicated in the notice of meeting, no later than the date set by the management board, which cannot be earlier than the record date indicated in the notice of meeting.

The documents to be presented to the shareholders in the context of a general meeting are made available on the company’s website from the date of the first publication of the notice of the general meeting in accordance with Luxembourg law. Any shareholder entitled to attend the general meeting may be represented by another shareholder, his or her spouse, or any other person of his or her choosing. The power of attorney must contain the instructions and information set out in Law 1915. In the event that the principal fails to appoint a proxy, the power of attorney in 7 question shall not be taken into account. The written power of attorney may be sent by fax, e-mail or any other means of communication. Any shareholder may vote by mail via a form that he or she can have sent upon written request containing proof of his or her status as a shareholder on the record date and the number of shares held addressed to the company. Shareholders may only use the voting forms provided by the company.

• Quorum and deliberations

Unless otherwise stipulated in SE regulations, the Law 1915, or the articles of association, decisions made at a duly convened annual general meeting of shareholders shall not require a quorum and shall be made by a simple majority of the votes cast regardless of the portion of share capital represented. Abstentions and invalid votes will not be counted. On the contrary, any extraordinary general meeting may validly deliberate only if at least half of the share capital is represented. At a second meeting in the event that the quorum requirement is not met at the first meeting, no quorum is required. In both cases, decisions are made by a two-thirds majority of the votes cast, with the understanding that the votes cast do not include those attached to shares for which the shareholder did not take part in the vote, abstained, or cast a blank or invalid vote.

• Conduct of general meetings and minutes

At least one general meeting must be held each year. The company’s annual general meeting of shareholders is held within six (6) months of the end of the fiscal year. A board is formed at every general meeting, consisting of a chairperson, who is chairperson of the management Solutions30 | Annual Report 2025 267 board, as well as a secretary and a scrutineer, neither of whom need to be shareholders or members of the management board. In particular, the general meeting board shall ensure that the meeting is held in compliance with applicable laws and, specifically, in accordance with the rules on convening meetings, majority, tallying votes, and shareholder representation.

An attendance list will be drawn up at every general meeting of shareholders. The board of the general meeting of shareholders takes the minutes of the general meeting, which are signed by the members of the general meeting board and by any shareholder who requests to do so. Any copy or extract of the original minutes to be produced in the context of legal proceedings or for the benefit of any third party shall be certified as a true copy of the original by the notary holding the notarial deed in trust, if the general meeting was recorded in notarial form; by the chairperson of the Company’s management board, if necessary; by two members of the management board; or, lastly, by the person to whom day-to-day management has been delegated.

7.2.5 Crossing thresholds and identifying shareholders

As of the writing of this report, the company is subject to the provisions of the Euronext Market Rules and the January 11, 2008 Law on Transparency Requirements for Issuers of Securities, as amended (The Transparency Law).In addition to disclosing when thresholds expressly set out in the applicable rules are crossed, in accordance with the articles of association, any natural person or legal entity coming to hold, directly or indirectly, alone or in concert, five (5) percent, ten (10) percent, fifteen (15) percent, twenty (20) percent, twenty-five (25) percent, thirty-three and one-third (33 1/3) percent, fifty (50) percent, sixty-six and two-thirds (66 2/3) percent of the voting rights must notify the company of the total number of voting rights that are held, directly or indirectly, alone or in concert. Voting rights must be calculated on the basis of all shares, including depository receipts, to which voting rights are attached, even if the exercise of such rights is suspended. Moreover, this information is also provided for all shares, including depository receipts. The notification to the company must be made promptly and at the latest within four (4) trading days following the date on which the shareholder, or the natural person or legal entity, (i) becomes aware of the acquisition or disposal, or of the possibility of exercising the voting rights, or on which he/she should have become aware of such acquisition or disposal, taking into account the 7 circumstances, regardless of the date on which the acquisition (ii) is informed of the crossing of one of the above-mentioned thresholds, following events that modify the distribution of voting rights, and on the basis of the information disclosed pursuant to article 14 of the Transparency Law.

7.3 Share Capital

7.3.1 Amount of subscribed capital

The share capital of Solutions30 is set at 13,658,817.96 euros and is divided into 107,127,984 shares with a par value of €0.1275 each - all in the same class and fully paid up. No unpaid shares have been issued.

7.3.2 Shares not representing share capital

There are no shares that do not represent share capital.

7.3.3 Liquidity contract

At December 31, 2025, the company had a liquidity contract covering 58,426 shares, or 0.05% of the company’s share capital.

7.3.4 Share buyback programs

• Description of the buyback program

The general meeting held on June 17, 2024, granted the company’s management board authorization to buy back shares for a maximum period of five (5) years. The maximum number of shares that can be acquired by the company shall not exceed a maximum total of one million three hundred thirty-nine thousand one hundred (1,339,100) shares. In any event, the maximum number of own shares that the company may hold at any time, directly or indirectly, shall not cause its net assets to fall below the amount indicated in paragraphs (1) and (2) of Article 461-2 of Luxembourg Law 1915. The purchase may be allocated to the year’s earnings and/or to unrestricted reserves or share premium. The company’s shares may be sold or, by a decision of the company’s extraordinary general meeting, canceled at a later date, subject to applicable legal or regulatory provisions. The maximum purchase price per share of the company, payable in cash, shall not exceed twenty-eight (28.00) euros or be less than one (1.00) euro. These purchases and sales may be carried out so as to deliver company shares as exchange or as payment in connection with external growth transactions in general and to restore the company’s portfolio of own shares.

Solutions30 | Annual Report 2025 268

• Liquidity contract

Solutions30 signed a liquidity contract with Exane BNP Paribas (now BNP Paribas) on March 25, 2019, in accordance with the Amafi charter with effect from April 1, 2019. At December 31, 2025, the following resources were included in the liquidity account: 58,426 shares and € 142,048. The information corresponding to the semiannual review of the liquidity contract is available on the company’s website in the “Regulated information” section.

7.3.5 Conditions governing all rights to purchase, all obligations attached to authorized (but unissued) capital, and all undertakings aiming to increase the capital

Article 5 of Solutions30’s Articles of Association:

« 5.1 The subscribed share capital is set up at thirteen million six hundred fifty-eight thousand eight hundred seventeen euro and ninety-six cents (EUR 13,658,817.96) divided into one hundred and seven million one hundred twenty-seven thousand nine hundred eighty-four (107,127,984) shares with a nominal value of zero point one thousand two hundred seventy-five cents euro (EUR 0.1275) each (the Shares).

5.2 The authorised share capital of the company, excluding the subscribed share capital, is set at two million forty-eight thousand eight hundred and twenty-two euro and sixty-eight cents (EUR 2,048,822.68) divided into sixteen million sixty-nine thousand one hundred and ninety-seven (16,069,197) shares with a nominal value of zero point one thousand two hundred seventy-five cents euro (EUR 0.1275) each.

5.3 The subscribed share capital and the authorised share capital of the Company may be increased or reduced by a resolution of the general meeting of shareholder(s) of the Company adopted in the manner required for the amendment of the Articles, in accordance with article 18 of these Articles.

5.4 Subject to the Law, each shareholder have a preferential subscription right in the event of the issue of new shares in return for contributions in cash; such preferential subscription right shall be proportional to the fraction of the share capital represented by the shares held by each individual shareholder. The right to subscribe the shares may be exercised within a period determined by the management board (directoire) which, unless applicable law provides otherwise, may not be less than fourteen (14) days from the publication of the offer in accordance with applicable law. The management board (directoire) may decide (i) that shares corresponding to the preferential subscription rights which remain unexercised at the end of the subscription period may be subscribed to by or placed with such person or persons as determined by the management board (directoire), or (ii) that such unexercised preferential subscription rights may be exercised in priority in proportion to the share capital represented by their shares, by the existing shareholders who already exercised their rights in full during the preferential subscription period. In each case, the terms of the subscription by or placement with such person or the subscription terms of the existing shareholders shall be determined by the management board (directoire).

5.5 The preferential subscription right may be limited or cancelled by a resolution of the general meeting of shareholder(s) of the Company adopted in the manner required for the amendment of the Articles, in accordance with article 18 of these Articles.

5.6 The preferential subscription right may also be limited or cancelled by the management board (directoire) (i) in the event that the general meeting of shareholders delegates, under the conditions required for the amendment of the Articles, in accordance with article 18 of these Articles, to the management board (directoire) the power to issue shares and to limit or cancel the preferential subscription right for a period of no more than five (5) years set by the general meeting of shareholders, as well as (ii) pursuant to the authorisation conferred by article 5.7 of the present Articles.

5.7 The management board is authorised, during a period starting on the day of the general meeting of shareholders held on July 27, 2021 and ending on the fifth anniversary of the date of publication in the Luxembourg legal gazette (Recueil Electronique des Sociétés et Association) (RESA) 7 of the minutes of such general meeting, without prejudice to any renewals, to increase the issued share capital on one or more occasions within the limits of the authorised share capital as per article 5.2 of these Articles.

5.8 The management board (directoire) is authorised to determine the conditions of any authorised share capital increase including through contributions in cash or in kind, by the incorporation of reserves, issue premiums or retained earnings, with or without the issue of new shares, or following the issue and the exercise of subordinated or non-subordinated bonds, convertible into or repayable by or exchangeable for shares (whether provided in the terms at issue or subsequently provided), or following, the issue of bonds with warrants or other rights to subscribe for shares attached, or through the issue of stand-alone warrants or any other instrument carrying an entitlement to, or the right to subscribe for, shares.

5.9 The management board (directoire) is authorised to set the subscription price, with or without issue premium, the date from which the shares or other financial instruments will carry beneficial rights and, if applicable, the duration, amortisation, other rights (including early repayment), interest rates, conversion rates and exchanges rates of the aforesaid financial instruments as well as all the other terms and conditions of such financial instruments, including as to their subscription, issue and payment, for which the management board (directoire) may make use of article 420-23 paragraph 3 of the Law.

5.10 The management board (directoire) is allowed to limit or cancel the preferential subscription rights of existing shareholders.

5.11 The management board (directoire) is authorised, subject to performance criteria, to allocate existing shares or new shares issued under the authorised share capital free of charge, to employees and corporate officers (including management board members) of the Company Solutions30 | Annual Report 2025 269 and of companies of which at least ten (10) percent of the share capital or voting rights is directly or indirectly held by the Company.

5.12 The terms and conditions of such allocations are to be determined by the management board (directoire). »5.13 Upon implementation of a complete or partial authorised share capital increase as per the foregoing provisions, article 5 of the present Articles shall be amended accordingly to reflect such increase.

5.14 The management board (directoire) is expressly authorised to delegate to any natural or legal person to organise the market in subscription rights, accept subscriptions, conversions or exchanges, receive payment for the price of shares, bonds, subscription rights or other financial instruments, to have registered increases of share capital carried out as well as the corresponding amendments to article 5 of the present Articles, the amount of which the authorisation to increase the share capital has actually been used and, where appropriate, the amounts of any such increase that are reserved for financial instruments which may carry an entitlement to shares.”

7.3.6 Capital subject to an option or a conditional or unconditional agreement to place it under option

The share capital of Solutions30 is not subject to any option or any conditional or unconditional agreement to place it under option.

7.3.7 Share capital history

In 2025, the number of shares comprising the share capital of Solutions30 did not change.

7.4 Shareholding

7.4.1 Ownership of capital and voting rights at December 31, 2025

	Capital		Voting rights
	As a %	Number	%
Gianbeppi Fortis	16.2%	17,323,240	16.2%
Other shareholders	83.7%	89,746,318	83.7%
Treasury shares		58,426	-
Total	99.9%	107,127,984	100%

7.4.2 Changes in shareholder structure over the last three years

The changes in Solutions30 Group’s shareholder structure are summarized below:

Breakdown of share capital and voting rights (no multiple voting rights) – As a %:

	12/31/2023	12/31/2024	12/31/2025
Gianbeppi Fortis (formerly owned by his holding company - GIAS International)	16.2%	16.2%	16.2%
Other shareholders	83.8%	83.8%	83.8%
Total	100.0%	100.0%	100.0%

These positions correspond to the information that is to the best of the company’s knowledge, notably in connection with the organization of each of the annual general meetings of shareholders and in the context of notifications of significant shareholdings. To the best of the company’s knowledge, no other shareholder besides Gianbeppi Fortis holds, alone or in concert, more than 5% of the company’s share capital or voting rights. Likewise, no other person has significant holdings as defined by Article 8 or Article 9 of the Luxembourg Law of January 11, 2008, on transparency requirements for issuers of securities. All the shares comprising the company’s share capital are free from any pledge.

7.4.3 Different voting rights

There is only one class of shares all common shares that, as such, has the same rights and obligations. There are no multiple voting rights applicable to the shares issued.

7.4.4 Ownership or control of Solutions30

Solutions30 is not controlled by any major shareholder.

7.4.5 Agreement that may lead to a change of control

As of the date of this document and to the best of the company’s knowledge, no agreement exists which, if implemented, could lead to a change of its control at a future date.

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7.5 Stock Market Listing

As of the date of this annual report, the Solutions30 share (ISIN: FR0013379484, Ticker: S30, Reuters: S30.PA, Bloomberg: S30:FP) is listed on Euronext Paris and has been since July 23, 2020. The Company was previously listed on Euronext Growth since June 10, 2010. It is eligible for deferred settlement service (SRD) and French stock savings plans (PEA). Solutions30 shares are also listed on the CAC Mid & Small, CAC Small, CAC Technology, Euro Stoxx Total Market Technology et Euronext Tech Croissance. The Company is no longer part of the SBF 120 Index since june 2024. It is part of ICB sector 9533, “Computer Services.”

7.5.1 Monthly change in market share price 2025

	Price + high (in euros)	Price + low (in euros)	Closing price (in euros)	Transactions in number of shares	Transactions in capital	Number of sessions
January	€1.10	€0.84	€1.07	12,053,543	€11,355,259	22
February	€1.54	€1.02	€1.37	16,223,495	€20,976,168	20
March	€1.93	€1.27	€1.53	21,824,020	€35,981,574	21
April	€1.73	€1.25	€1.48	13,984,820	€22,251,247	20
May	€1.63	€1.41	€1.57	6,666,197	€10,140,238	21
June	€1.83	€1.50	€1.65	8,558,126	€14,084,230	21
July	€2.13	€1.61	€1.76	12,631,698	€23,115,458	23
August	€2.08	€1.65	€1.71	10,293,635	€18,420,705	21
September	€1.75	€1.00	€1.06	27,740,911	€37,387,182	22
October	€1.08	€0.96	€1.00	10,957,019	€11,150,672	23
November	€1.00	€0.87	€0.96	6,030,894	€5,621,095	20
December	€1.02	€0.85	€1.02	7,326,334	€6,811,921	21

7.5.2 Change in the stock price from 02/17/2022 to 02/15/2024

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7.6 Financial Communication

7.6.1 Financial communication policy

Listed since 2005, initially on Euronext Access, then on Euronext Growth, and today on Euronext Paris, Compartment C, the Solutions30 SE Group has a financial communication policy that complies with applicable laws and regulations, as well as market practices commensurate with its size. The production of financial information for external communication is rigorously controlled by the departments responsible for preparing it. In addition to these controls, there are two bodies whose mission is to verify the quality of the financial statements:
* The Audit, Risk and Compliance Committee of the Supervisory Board
* The Statutory Auditor

The Group is committed to maintaining a long-term relationship of trust with all its shareholders, as well as with all other members of the financial community. Throughout the year, Solutions30’s executives and investor relations department act as an interface between the Group and the financial community (institutional investors, including socially responsible investors, financial analysts, and individual shareholders). Members of the Management Board are available to meet with interested investors, and every effort is made to answer the latter’s questions and process their requests as quickly as possible and in compliance with market practices and applicable rules. Through its communication, Solutions30 intends to provide clear, precise, and transparent information, aiming to keep the market informed of the Group’s strategy, its positioning, its results, and its objectives. The Investor Relations section of the Group’s website is the cornerstone of its communication strategy and a database of the Group’s financial and regulated communications. It includes all public disclosures, all the Group’s press releases, including annual, half-yearly, and quarterly revenue and earnings reports, all meeting presentation materials and transmissions, regulated information, annual and half-yearly financial reports, and preparatory documents for general meetings. During the year, Solutions30 also set up a dedicated unit for its individual shareholders, with a dedicated telephone line and e-mail address, as well as a newsletter. Finally, the Group communicates its financial and strategic news on the main social networks throughout the year. Earnings announcements are accompanied by webcasts during which members of the executive management team present the Group’s performance for the period, outline its outlook, and answer questions from investors and analysts. The Group also takes part in conferences, roadshows, and investor meetings throughout the year.

7.6.2 Timetable for financial communication in 2026

March 30, 2026	2025 Annual Results
April 29, 2026	2026 Q1 Revenue Report
September 17, 2026	2026 HY Earnings Report
November 5, 2026	2026 Q3 Revenue Report

7.6.3 Investor contact

21, rue du Puits Romain, L-8070 Bertrange, Grand Duchy of Luxembourg
E-mail for institutional investor: investor.relations@solutions30.com
E-mail for individual shareholders: actionnaires@solutions30.com

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7.7 Person Responsible for the Document

7.7.1 Name of the person responsible

Gianbeppi Fortis, CEO and Chairman of the Management Board, is the person responsible for the information contained in this annual report.

Gianbeppi Fortis, Chief Executive Officer
21, rue du Puits Romain, L-8070 Bertrange, Grand Duchy of Luxembourg

7.7.2 Statement by the person responsible

This is a free translation into English of the certification by the person responsible for the annual financial report and is provided solely for the convenience of English speaking users.

“I confirm that, to the best of my knowledge, the financial statements have been prepared in accordance with applicable accounting standards and provide a faithful and honest representation of the assets and liabilities, the financial situation, and the earnings of the company and of all companies within its scope of consolidation, and that the management report presents a faithful representation of the business trends, earnings, and financial position of the company and of all companies within its scope of consolidation, as well as a description of the principal risks and uncertainties that they face.”

Luxembourg, March 30, 2026
Gianbeppi Fortis, Chief Executive Officer

7 Solutions30 | Annual Report 2025 273
www.solutions30.com
21, rue du Puits Romain, L-8070 Bertrange, Grand Duchy of Luxembourg