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Årsredovisning 2024
===== SIDA 1 ===== FENIX OUTDOOR CSR REPORT 2024 www.fjallraven.se ● www.tierra.se ● www.devold.com ● www.hanwag.de ● royalrobbins.com ● www.naturkompaniet.se ● www.partioaitta.fi ● www.globetrotter.de ● www.friluftsland.dk 01_CSR_2024_OVERVIEW_01-07_FINAL.indd 101_CSR_2024_OVERVIEW_01-07_FINAL.indd 1 2025-03-31 13:522025-03-31 13:52 ===== SIDA 2 ===== Contents Foreword by the CEO .....................03 1. Introduction and Overview ...... 04 2. Nature ...........................................08 3. Economy .........................................18 4. Society ............................................24 5. Well-being ......................................32 6. Performance Metrics and KPIs ....38 7. About the report ..........................52 With the help of our management compass, this report takes us on a journey through the sustainable business update of FENIX Outdoor and gives insights into our visions, aims and further steps. N = Nature: As an outdoor company, we believe that business activities should contribute to resilient and well- functioning natural systems. E = Economy: Ethical and sustainable activities can only be under- taken if a business is healthy and its finances are sound. Thus, we rely on long-term partnerships and strive to create sustainable working conditions. S = Society: We are a responsible actor in society, enriching and inspiring each other and those beyond our company to move towards a sustainable future. W = Well-being: We look for excellence in staff members; in return, they expect a fair and responsible employer. 01_CSR_2024_OVERVIEW_01-07_FINAL.indd 201_CSR_2024_OVERVIEW_01-07_FINAL.indd 2 2025-03-31 12:502025-03-31 12:50 ===== SIDA 3 ===== Dear sustainability friends, 2024 was a challenging but insightful year. Supply chain disruptions, shifting weather patterns and inventory challenges, both internally and at our retailers, presented hurdles throughout the year. However, we are also seeing positive developments, par- ticularly in gaining better control of our in ventory situation. Some challenges, such as shifting sea- sons and unpredictable weather, are be yond our control, yet they have a sig- nificant commercial impact on us. While we cannot influence these forces directly, I am proud that we remain steadfast in our commitment to sustainability, continuing to push for meaningful change through responsible business practices. WE ARE CONSTANTLY striving to profes- sionalize our CSR/ESG efforts – reducing ou r environmental impact, ensuring fair labor practices, promoting animal welfare and integrating sustainability into every aspect of our business. Our guiding doc- ument, The Fenix Way, outlines our val- ues and commitments, helping us stay on cou rse by following our Fenix Manage- rial Compass, which is built on four car- dinal directions: Nature, Economy, Soci- ety and Well-being. In line with these pr inciples, we continue to uphold our commitment to the UN Global Compact and the UN Climate Action initiative. These frameworks shape our sustainabil- ity strategy and ensure we hold ourselves ac countable to the highest standards of responsible business. AS I HAVE stated before, we welcome the increasing regulatory focus on ESG transparency. Last year we proactively adapted our reporting framework to align with upcoming EU legislation. This dedication was recognized in 2024 when we won the ESG Transparency Award for our 2023 CSR Report, an achievement that makes me immensely proud. We remain committed to setting an even higher stan- dard in transparent reporting. Fu rthering this transparency agenda, Fjällräven launched a more accessible, condensed version of our CSR report to provide a clear and engaging overview of our progress and challenges. This 20-page report highlights key efforts in material innovation, responsible chemical manage- ment, animal welfare, social responsibility an d climate action. Beyond our own operations, we take responsibility for ensuring ethical prac- tices across our supply chain. We con- tinue working closely with the Fair Labor As sociation, aligning with its principles to uphold fair labor standards and improve working conditions for those involved in our production processes. BEFORE CLOSING, I want to highlight a few initiatives that truly stand out. Circu- larity remains a challenging but essential ar ea for us to address. Across the group, we have been testing various models to create real impact. Within Frilufts Retail, we have seen great success with circular business models, especially at Globetrotter and Naturkompaniet, where second hand sales and product care-and-repair pro- grams have gained significant traction. Wi thin our brands, I want to high- light two key achievements from Fjäll- räven. First, the brand has once again been na med the most sought-after on the Scan- dinavian secondhand marketplace, Tradera. No t only is Fjällräven the most searched-for brand across all categories (not just sports and outdoors), but it also retains one of the highest resale values – reinforcing the idea that investing in a Fjällräven product is both a sustainable and a financially wise choice. Additionally, Fjällräven launched Pre-Loved in North America, a peer-to-peer marketplace where our community can buy and sell used Fjällräven items. The early results are promising, and we are gaining valuable insights into how we can further promote circularity. LOOKING AHEAD, we recognize that sus- tainability and commercial success are de eply interconnected. The achievements of the past year reaffirm that, even in times of uncertainty, our dedication to respon- sible business practices strengthens our lo ng-term resilience. I want to extend my sincere gratitude to our employees, part- ners and customers for their continued su pport, and I look forward to another year of progress and shared success. Martin Nordin Chairman of the Board Our Commitment to Sustainability and Progress Continues 01_CSR_2024_OVERVIEW_01-07_FINAL.indd 301_CSR_2024_OVERVIEW_01-07_FINAL.indd 3 2025-03-31 12:502025-03-31 12:50 ===== SIDA 4 ===== 4 CSR 2024 FENIX OUTDOOR INTERNATIONAL AG 01_CSR_2024_OVERVIEW_01-07_FINAL.indd 401_CSR_2024_OVERVIEW_01-07_FINAL.indd 4 2025-03-31 12:502025-03-31 12:50 ===== SIDA 5 ===== CSR 2024 FENIX OUTDOOR INTERNATIONAL AG 5 1.1 PURPOSE OF THE REPORT This report has been prepared in accordance with the Corporate Sus- tainability Reporting Directive (CSRD) to provide a comprehen- sive overview of our organization's environmental, social and gover- nance (ESG) performance. The report aims to ensure transparency, accountability and compliance with the European Union's sustain- ability disclosure requirements. Through this document, we seek to offer stakeholders – investors, customers, employees, regulators, and the broader community – insights into our sustainability initiatives, impacts and strategic commitments. For more technical informa- tion, please refer to the section “ About the report. ” 1.2 SUMMARY OF GOVERNANCE AND STRUCTURE Fenix Outdoor International AG is a group of companies that devel- ops and markets high-quality outdoor gear through a selected retail network, with a high level of service and professionalism, to highly discerning and fastidious end-users. Fenix Outdoor International AG, Corporate Identity Number CHE-206.390.054, with its regis- tered offices in Zug, Switzerland, is stock-listed in Sweden (Stock- holm Stock Exchange – large cap) and originates from Örnsköldsvik, the town where Fjällräven was founded. The chairman and CEO of the group is Martin Nordin, eldest son of Åke Nordin, the founder of Fjällräven. The total number of shares in the company is 35,060,000, of which 24,000,000 are Class A shares, nominal value 0.1 CHF/ share, and 11,060,000 are Class B shares, nominal value 1.0 CHF/ share. As of December 31, 2024, the company held 132,337 B shares on its own books (the same as at the end of 2023). There were 22,000 person- nel options outstanding as of December 31, 2024 (the same as at the end of 2023). Fenix Outdoor International AG had 8,118 shareholders at the end of 2024. The ownership participation of the 10 largest share- holders constituted 84.1% of the total capital. A list of the major share- holders can be found in the annual report 2024. The business model is grouped in three segments: Brands, Global Sales and Frilufts Retail. 1.3 EVENTS AFTER THE REPORTING PERIOD Cancellation of shares Per February 11, 2025 an Extra General Meeting approved to the Board of Directors a cancellation of 112,898 B-shares, limiting the holding of own shares to 19,439 B-shares representing 0.15% of the capital of A-shares and B-shares. The Board of Directors revoke its resolution and the shares were used for the acquisition of Devold of Norway AS. Viomoda In 2024 Fenix Outdoor AB entered into a partnership with the Ger- man outdoor brand Maloja to operate apparel production at their subsidiary production facility, Viomoda, in Plovdiv, Bulgaria. In 2024, as part of this agreement, Fenix Outdoor AB provided con- vertible loans of MEUR 1.5 to Viomoda Austria maturing at the lat- est by December 31, 2025. The loan is convertible into up to 40% of Viomoda shares at the option of Fenix Outdoor AB and 49% at the option of Maloja. The loan was converted into 49% of Viomoda shares as of January 30, 2025. 1.4 STAKEHOLDER ENGAGEMENT AND MATERIALITY ASSESSMENT We recognize the importance of engaging with our stakeholders to understand their expectations and concerns regarding sustainabil- ity. This report incorporates feedback from key stakeholder groups, including employees, investors, customers, suppliers and regula- tory bodies. Fenix Outdoor engages in open dialogues with civil society groups and other societal actors on various subjects, partic- ularly those relating to environmental, social, societal and human rights topics. We collaborate in projects or explore best practices and benchmarks for the outdoor industry. By the end of 2024, around 95% of our business partners repre- senting suppliers had signed our Code of Conduct (CoC). There were no significant changes over 2023. As we have four brands and five retail chains, the subscription rate to our CoC has a considerable bandwidth. This will improve over time, but every new acquisition may blur the picture. Fenix Outdoor Brands Unit Each Fenix Outdoor brand has developed its own individual sus- tainability agenda with distinct sustainability goals and implemen- tation plans. The sustainability plans for 2025 are well underway. In 2024 we continued our work on the upcoming 2025 to 2030 sustain- ability strategy. We engaged with an external partner to identify gaps and refine and restructure the outcome paper from the workshop, held the year before. In 2025 we will hold several individual ses- sions with brands, retailers, significant operational units and the top management. On that basis, responsibilities have been assigned and implementation deadlines have been set. We have developed and internally published our Climate Strategy to coordinate the efforts effectively across the organization. To improve our supplier management, all brands worked much closer together, and under the roof of the central CSR Department we offered internal training and educational events that helped to build awareness and understanding for sustainability challenges. Frilufts Retail Unit In response to the German Supply Chain Due Diligence Act (LkSG), we continued to require our brand suppliers to sign a Code of Con- duct as a sign of goodwill and ethical commitment to decent supply chain and human rights management. A total of 910 reputable brands, representing 98% of the pur- chase value, have signed our Brands Code of Conduct for Frilufts Retail in 2024. We have put on hold several brands for sale in 2024, 1. Introduction and Overview 01_CSR_2024_OVERVIEW_01-07_FINAL.indd 501_CSR_2024_OVERVIEW_01-07_FINAL.indd 5 2025-03-31 12:502025-03-31 12:50 ===== SIDA 6 ===== 6 CSR 2024 FENIX OUTDOOR INTERNATIONAL AG in response to poor responsiveness and commitment. And we have started several inquiries on ad hoc matters arising from political changes and threats to fundamental rights. Materiality Assessment Our materiality assessment process has helped identify the most significant ESG issues that influence our business operations and long-term value creation. In 2024 we aligned our Materiality Matrix approach more with the legally prescribed process by the EU. The new approach is formalistic and does not add value to what we did in the past. However, there is a risk that resources need to be diverted away from “real impact” activities. Description of methodologies and assumptions applied in process to identify impacts, risks and opportunities and processes In our sustainability approach we started with the basic consid- eration by employees and management of the question of what it is that we are doing and what are the possible repercussions and side effects. To execute this throughout the Group, we apply the Fenix Management Compass ® with the four cardinal directions “N = Nature, ” “E = Economy, ” “S = Society” and “W = Well-being” . With this approach we cover all relevant focus areas of sustainability. As signatory to the UN Global Compact since 2012, we also focus on Compliance and Anti-Corruption. Therefore, Compliance and CSR/ Sustainability are managed under one roof. When assessing all steps of our production and services, we look at the following aspects: – What effect does our way of doing things have on any of the four cardinal directions? Is it positive, negative or even both? – What kind of unwanted side effects may exist? – How can we remediate the negative effects of our activities? Based on these basic questions we came to the Fenix Outdoor view of our business. Through several stakeholder surveys and roundtables, held between 2012 and 2023, we also engaged with customers/consumers, suppliers, service providers, regulators, sci- ence, non-governmental and not-for-profit organizations (civil society). Based on the outcome of these steps, we prioritized the material matters based on: • Number of mentions by various stakeholders • Severity of the impact • Urgency of the impact mitigation • Business relevance based on influence and available remedia- tion tools • Own internal know-how and scientific considerations • Economic impact. With the application of the Global Reporting Initiative Standard in 2012, we introduced a monitoring and reporting framework. We set goals/targets for the Group as laid out in “The Fenix Way” Annex as a five-year strategic plan, for 2015–2020 in the first version of the document and for 2020–2025 in the second version. Founded on the Sustainability Agenda, addressing the four cardi- nal directions, Fenix Outdoor’s CSR Team works with the relevant business units and upstream and downstream partners to address steps to achieve the goals set. The tactical steps are taking into con- sideration the role of Fenix Outdoor’s entities, our reach, the abil- ity of the partners to contribute and the dependencies in certain geographical regions as well as possible mitigative steps achievable though wider partnerships, such as membership in the Fair Labor Association, Cascale and Textile Exchange. The Fenix Management Compass® addresses prominently the car- dinal direction “E = Economy. ” Economic considerations and effects stemming from risks in the other three dimensions or from the view angle of compliance and business ethics are taken into consideration in the annual report and reservations or investments to hedge or mitigate are undertaken. There is alignment between the Financial Department and the Sustainability/Compliance Department. The CFO and CSO/CCO meet frequently. 1.5 SUSTAINABILITY FOCUS AND COMMITMENTS Sustainability is embedded in our corporate strategy, with a focus on responsible resource management, social responsibility, ethical gov- ernance and long-term resilience. Our sustainability commitments include: • Reducing carbon emissions and enhancing energy efficiency • Promoting diversity, equity and inclusion (DEI) in the workplace • Strengthening ethical supply chain practices • Ensuring compliance with human rights and labor standards. As in previous years, we consider climate change and the associ- ated extreme and unpredictable weather events as strategic risks and a priority for action. We also think that most of our environmen- tal endeavors are directly or indirectly linked to preventing or mit- igating the negative climate effects and helping to achieve the 1.5° Paris Agreement goal. In 2024 we continued projects in our own operation and in our supply chain to help foster a more sustain- able, independent and CO 2e-reduced energy supply. The year 2024 is characterized by continued political and economic instability, eco- nomic downturn and disruption. The war in Ukraine, inflation and the extraordinary budgetary spending of many governments with unknown side- and long-term effects led to a general notion of inse- curity, fear and enhanced polarization. In addition, more and more legal demands and restrictions concerning products, their packag- ing and disclosure requirements from more and more companies apply. This leads to increased bureaucracy and so far has not yet even remotely reaped the fruits of an economic “level playing field. ” In fact, increasingly these well-intended political programs lead to dis- advantages for European businesses and call for a change in the way they are executed. Through continuous innovation and collaboration, we aim to con- tribute positively to the global sustainability agenda while ensuring business growth and resilience. 1.6 STRATEGY AND APPROACH Over the past few years, we have built partnerships and reinforced existing relationships, and we did not change our network in 2024. Fenix Outdoor has been a reliable and constant signatory to and sup- porter of the UN Global Compact since 2012 and continues at the participant level for its further engagement. We actively take part in the UN Fashion Industry Charter for Climate Action (UNFCCC) and the Swedish Textile Initiative for Climate Action (STICA), and we are cooperating in the North American market with the Out- door Industry Association (OIA) in Climate Action Corps. We con- tinued our involvement in Cascale (formerly known as the Sustain- able Apparel Coalition [SAC]) and furthered the rollout of the Higg modules such as applying the FEM and FSLM. As a member of the Fair Labor Association (FLA) we continu- ously develop our social compliance governance. We are committed to fair labor conditions, and we support the concept of a living wage. A headquarters visit by FLA staff was done in early 2024 with a pos- itive result. Since 2015, Fenix Outdoor is also a member of the Textile Exchange. Through this network, several Fenix Outdoor brands work together with peers and scientists to support activities and research in recycling, the use of organic material, improved supply chain management and better choice of materials. As a signatory of 01_CSR_2024_OVERVIEW_01-07_FINAL.indd 601_CSR_2024_OVERVIEW_01-07_FINAL.indd 6 2025-03-31 12:502025-03-31 12:50 ===== SIDA 7 ===== CSR 2024 FENIX OUTDOOR INTERNATIONAL AG 7 The Microfiber Consortium (TMC), we support and contribute to research of microfiber impacts on the environment. One of our entities is a member of the Swedish Tourist Associa- tion (STF). When it comes to certification schemes, we do not aim for formal- ized certifications of any type of management systems. We believe that our responsibility is to do things right and to communicate only what we have evaluated ourselves and can stand behind with our own name. However, in many operations ISO 9000 and ISO 14000 principles are applied in an informal manner. Several of our suppli- ers carry certifications or deliver materials which often carry signif- icant and reputable signs of conformity to industry standards, such as GOTS, RCS, bluesign or others. We appreciate these certifications and labels. However, we only demand certifications of materials and the chain of custody for production purposes in order to make qual- ifying statements on our material use. The information is stored internally and not necessarily communicated to our constituency except in generic terms (such as “recycled” or “organic”). The Fenix Way Management Compass® has continuously guided all Fenix Outdoor sustainability activities as described in “The Fenix Way. ” It remains our universal management tool, mandatory for the whole group and all employees. Various significant impacts and negative side effects occur in dif- ferent stages of our services and products’ lives. From raw material sourcing, through spinning, dyeing and other processing steps, to the transport, sale, use and repair of our products until they truly reach the end of their life, all four cardinal directions of our com - pass are affected. We want to contribute to healthier, more resil- ient natural systems, top financial performance and more knowl- edgeable, happier and environmentally conscious people, so we have a wide array of projects, which are managed and organized by each entity individually. However, all activities address the com- pass directions and focus on moving us steadily along the path to sustainability. At the Group level, our brands and retail compa- nies developed a common and streamlined program of focus areas: we have addressed social compliance matters throughout the sup- ply chain and within our own organization, through addressing the recommendations we have received from our partners at the FLA. To meet the German Corporate Sustainability Due Diligence reg- ulation, we have made changes in how to organize duties when it comes to human rights responsibilities. The CSO is also taking the responsibility of being the group-wide Human Rights Officer. That position is complemented by the Global Sustainability Director for Fenix Outdoor brands, the Human Rights Coordinator working in that particular team and the Social Compliance Auditing staff cov - ering audits and remediation with suppliers and the Senior Sus - tainability Manager in Globetrotter Ausrüstung, who oversees the human rights tasks in the retail operations. As climate change is a global challenge, we address the impor- tance of climate mitigation and positive climate action. In 2024, we continued to dive deeper into our Scope 3 emissions of which we are capturing and calculating more and more. The transport-related activities are under constant scrutiny (including looking at the opti- mization of planning and shipping). All suppliers and value chain partners working with Fenix Out- door brands must adhere to our Restricted Substances List (RSL, which is also used as the MRSL, or Manufacturing Restricted Sub- stances List). We update our chemical guidelines on a yearly basis, reflecting the latest scientific research and following our own pre- cautionary and proactive approach going beyond the current and coming legal requirements. The Fenix Outdoor Chemical Guide- line promotes the phase-out of hazardous substances as materials and acts as a guide to less hazardous alternatives. The Fenix Outdoor RSL Guideline also includes additionally a testing matrix support- ing the supplier in what substances may pose risks in different types of materials. During 2024 we hosted a supplier webinar linked to the launch of the updated 2024 version of the Chemicals Guideline. Our pur - pose was sharing background information regarding added sub - stances and supporting the chemicals management carried out by our suppliers. During the past year we have been sharing chem- ical topics, such as substances of concern, potential new regula - tions and other chemical-related topics of interest, in the Fenix Outdoor sustainability newsletters for suppliers. These communi- cation instruments have helped to lift the transparency and made sure that both our business partner and our organization are able to proactively work toward safer and more sustainable products. A focus area of work in 2024 was the close monitoring of PFAS in products and often-unknown applications and the updated Cal. Prop. 65 regulations with respect to BPA and BPS. We have also consolidated and streamlined the testing process for all textile brands under the Fenix Outdoor umbrella, including microfiber shedding tests according to the standard developed by the TMC with a new third party partner. The CSR team has also held several internal training courses on chemical-related topics such as the newly implemented or updated test standards and potential future challenges. 1.7 STRUCTURE OF THE REPORT This report has some deviating structural elements from previous reports. We enhanced the alignment with the CSRD requirements and follow the structural framework as follows: Chapter 2: Nature. It includes all environmental performance top- ics and gives insights into our environmental impact, climate action strategies and resource management. In all chapters we identify the impacts, risks and opportunities and describe the policies, actions and targets. The latter can also be found in our Fenix Way Sustain- ability Agenda 2020-2025. It covers the CSRD topics covered under ESRS E1, E2, E3, E4 and E5. Chapter 3: Economy. In contrast to previous reports, we capture our own information such as the activities under the “ A Greener Choice” program and our “Pre-Loved” projects as well as the EU Taxonomy information here. We also describe the corporate gover- nance structure and business model, offering an overview of our cor- porate governance framework, risk management and ethical prac- tices including compliance and anti-corruption practices. Therefore, the CSRD topics ESRS E4, G1 and partly S3, and S4 are presented. Chapter 4: Society. The chapter describes our social performance and focuses on details on our value chain activities including work- force, labor practices, community engagement and social responsi- bility initiatives. The ESRS S2 is covered. Chapter 5: Well-being. Here we describe the social performance with regard to our own workforce and cover the details on work- force diversity, labor practices, staff development and internal social responsibility initiatives. ESRS S1 is covered. Chapter 6: Performance Metrics and KPIs. For all topical areas, tables on quantitative data points are given and serve as references to the respective chapters before. Chapter 7: About the Report. It covers a description of perfor- mance metrics and the methodology used in the report. We invite our stakeholders to review this report and engage with us in shaping a more sustainable future. 01_CSR_2024_OVERVIEW_01-07_FINAL.indd 701_CSR_2024_OVERVIEW_01-07_FINAL.indd 7 2025-03-31 12:502025-03-31 12:50 ===== SIDA 8 ===== 02_CSR_2024_NATURE_08-17_FINAL.indd 802_CSR_2024_NATURE_08-17_FINAL.indd 8 2025-03-31 12:502025-03-31 12:50 ===== SIDA 9 ===== CSR 2024 FENIX OUTDOOR INTERNATIONAL AG 9 2.1 FENIX OUTDOOR’S APPROACH TO THE ENVIRONMENT Nature is where we at Fenix Outdoor feel most at home. Enabling people to get outdoors is why our founder made his first backpack in 1950, and it continues to be the main reason why we make and sell outdoor products today. At Fenix Outdoor, we feel it is our duty to protect our planet by minimizing our impact on the environment as much as possible, so that jointly with our customers and other stake- holders we can continue to enjoy the outdoors for generations to come. Represented by the “Nature” pillar of our management compass, ecological sustainability is a core part of our operations and deci- sion making at Fenix Outdoor. We aim to be transparent about our approach to sustainability, considering not only our emissions, but also our impact in other areas such as pollution and chemical use, water, circular economy and resource efficiency, and biodiversity. In this sec- tion, we will provide a detailed overview of the actions we have taken to reduce our environmental impact in 2024, the risks and opportu- nities we see for the future, and how our strategy and targets will con- tinue to guide us forward. Fenix Outdoor and its entities jointly base their actions on the fol- lowing key aspects: • Sustainable material solutions: Increasing our share of “more sustainable” materials based on our Preferred Fiber List (PFL), inspired by using leading industry benchmarks, such as Cascale’s Higg Materials Sustainability Index and the Textile Exchange Preferred Fiber Matrix. • Transparent supply chain: Partnering with Lloyds Register Qual- ity Assurance (LRQA) to extend our reach and deepen our knowledge of the full array of supply chain matters with envi- ronmental regard; strengthening the adoption of the Higg Facil- ity Environmental Module (FEM) by our suppliers and support- ing them with trainings and a Corrective Action Plan (CAP) process. • Environmentally responsible production: CO 2 emissions accounting and reduction in line with our Fenix Outdoor Cli- mate Strategy (see CSR Report 2021, p. 20 and first draft of our Transition Plan): striving for integration of circular production practices (e.g., zero waste development) into standard processes and implementing circular business models (textile to textile recycling, rent and repair services). • Sustainable store management: Adoption of the Green Business Benchmark (GBB) in our US stores to measure and enforce sus- tainable practices and preparation work to implement the ISO 50001 at Globetrotter in 2025. Re-think store concept for the Globetrotter stores including care and repair, second-hand and product rental and measurement of the store´s sustainability performance with the Circularity Passport Interiors. • Continuation of eliminating hazardous chemicals and updat- ing the groupwide Chemicals Guideline considering new regu- lations. • Enabling consumers to identify the best suitable and most sus- tainable product for their needs by expanding our internal label- ing/scoring models and enforcing supply chain compliance with transparency and traceability demands. We at Fenix Outdoor make our products consciously, to last for gen- erations while ensuring emotional longevity. We call it timelessness, durability and sustainability. Fun fact, as we stem from Swedish roots: Did you know that in Swedish, durability and sustainability are the same word? “Hållbarhet” means more than long-lasting. It is a holistic and all-encompassing concept that looks far into the future. We make our garments to last for generations: they should have a lifelong sto- ries, not short-lived ones. But sometimes trade-offs are tough to solve: some materials might be better for the climate but are not recyclable and do harm to animals and plants when they end up in nature. We have identified all environmental related reporting standards as material for Fenix Outdoor either in our own operations, our value chain or both. The governance of our positive and/or negative impact at any stage of our value chain is supported by several tools, internal and external policies, monitored by the different Sustain- ability Managers within the Fenix Outdoor Group, the Chief Sus- tainability Officer, and supported by our Compliance staff in Asia as well as our third-party service-partner, LRQA. To strengthen our due diligence process and supplier engagement in China, we joined the International Institute of Public and Environmental Affairs (IPE) in 2023. Our work complies with international and national envi- ronmental laws and aligns with global frameworks and international standards (e.g., the UN Framework Convention on Climate Change or the GHG Protocol). We are also members of a diverse range of industry initiatives that help us to stay on track with the latest devel- opments in regard to environmental developments (see Chapter Introduction and overview). While working toward a more sustainable business anchored in our Fenix Way, adverse impacts on nature and environmental resources remain. Through our double materiality assessment, we systematically reassess actual and potential positive and negative impacts, risks and opportunities regarding the environment from our own operations as well as from the supply chain. Our material impacts, risks, and opportunities are assessed during different processes: • Integrated production country assessments in conjunction with HREDD assessments, updated annually and on request from brands by CSR team. On national and sub-national level data is obtained on a regular and constant basis via our ESG tool EiQ, which also covers environmental parameters (carbon intensity, flood risk, water stress and so on). 2. Nature (ESRS E 1 – E5): Our Environmental Mission 2. TABLES, PAGE 38–43 02_CSR_2024_NATURE_08-17_FINAL.indd 902_CSR_2024_NATURE_08-17_FINAL.indd 9 2025-03-31 12:502025-03-31 12:50 ===== SIDA 10 ===== 10 CSR 2024 FENIX OUTDOOR INTERNATIONAL AG • On material/fiber level (especially with regard to natural fibers based on industry knowledge and company-specific supply chains for our main materials). • On brand level (during strategy development with support of CSR workshops and during the adoption of new markets and if applicable, in new production countries). • Updated during CDP Reporting, in case any new impacts have been identified during the annual greenhouse gas accounting process or specific circumstances. • On retail level as part of the energy management system. 2.2 CLIMATE CHANGE (E1) 2.2.1 Impacts, Risk, and Opportunities Climate change is one of the most pressing topics of our time. To mitigate climate change, we developed our first climate strategy in 2020, which will be updated in 2025, informed by our DMA and the identified impacts, risk and opportunities. For our long-term plan- ning we developed a first edition of our climate transition plan with the objective to limit global warming to 1.5°C, achieving net-zero and outlining the major decarbonization levers in our value chain and with respect to our business model. Renewable energy sourcing and electrification of production processes in the supply chain, tran- sitioning to more sustainable raw materials, decarbonizing our logis- tics operations and expanding our circular business models were identified as among the biggest levers. 2.2.1.1 Impacts Our main impacts derive from different value chain stages and need to be assessed as such. From our own operations, the main climate impact comes from the energy consumption of our own locations, of which our two production sites, stores and distribution centers are the most impactful. Our main upstream climate impact stems from the production of our products, including raw materials and trans- portation. The use phase and end-of-life treatment mark our biggest impacts from products sold. Our energy consumption is mainly driven by electricity used to produce Hanwag shoes, store operations (lighting, air conditioning and in some cases heating) and distribution centers, followed by gas consumption for heating and warm water generation. A more detailed breakdown is provided in table N-1. Since renewable elec - tricity sourcing is globally available to some extent and under cer - tain limitations, we see the decarbonization of our heating sources as the most challenging of our impacts coming from energy con - sumption. In general, energy sourcing is decentralized. Most of our loca - tions are rented and thus energy supply for heating is most often included in the rental agreement. Our influence on the energy sources is therefore limited. For stores located in shopping malls we most often depend on the shopping mall operator even for electricity. However, with green leases for an increasing number of locations we have progressed to having agreements in place to incorporate environmentally sustainable practices and energy-effi - cient measures to reduce the environmental impact of a building. The green lease outlines responsibilities for both landlords and ten - ants in managing energy use, waste, and resource consumption. It encourages collaboration to improve building performance, reduce costs and promote sustainability. To steer renewable energy pro- curement, we established a guideline on renewable energy sourc - ing that outlines targets and definitions. Energy Attribute Certifi- cates are secured centrally for the whole group for locations where we are unable to choose green tariffs. 2.2.1.2 Risks From the identified impacts, we can derive potential risks (physical and transitional), some of which we already saw materialize in the past: • Huge parts of our supply chain partners are in the global south. This region is in general more vulnerable to climate change than the global north. Changing weather conditions and increas- ing frequency and severity of extreme weather events (floods, storms, water scarcity and droughts) can lead to loss of har- vest, threatening our raw material sourcing of cotton or hemp, destroying homes, and creating unsafe circumstances for our supply chain partners. Reduced production capacity can also lead to disruptions in our product supply through delayed deliv- eries. Independent from production capacity but depending on changes in weather patterns, our warehouses (especially in Asia) might not be accessible due to floods or heavy storms. Unfortu- nately, we already saw some of those risks materialize in the US with physical damage to some of our storage and products. • As a result of unforeseeable weather conditions that affect traf- fic into our retail stores, our retail strategy has shifted toward emphasizing conversion as a key metric to increase sales. • A study from the ILO shows that large swaths of apparel-pro- ducing areas in Asia will be underwater by 2030. This may also affect our suppliers in the Ho Chi Minh area of Vietnam. • Although no legal requirements are in place for our industry for now, more regulations with respect to a company’s greenhouse gas emissions and carbon pricing are to come. Already today we are affected by increasing carbon pricing for fossil fuels due to our self-operated locations (mainly production and retail) and increasing operating costs. • We see the risk of a regulated market especially for recycled syn- thetics in the textile industry. We are aware of possible restric- tions on PET bottles being recycled into fabrics. In the future, only textile-to-textile recycled synthetics are likely to be accepted as certifiably sustainable. Since this is a technology that needs to be upscaled, we see the risk of a slow adaptation, so existing fab- rics will most likely come with a premium for a couple of years. • To maintain competitiveness in the journey toward a low-carbon economy, it is not only important that we prepare and adapt but also that our direct and indirect partners in the value chain do so. Partners without a climate strategy including science-based targets and action plans can be a risk to the resilience of our business in the future. 2.2.1.3 Opportunities By adapting our business to a changing environment, we see an opportunity to enter new markets by developing garments for hot- ter, more humid conditions. This will also help us to stay strong in the market when conditions for outdoor activities will change in our main markets (Europe and the US) due to climate change. This potentially gives us a chance to also expand our business in the global south, where conditions are already very suitable for our lighter products. 2.2.2 Policies To mitigate climate change, we have a set of policies in place that help us to implement our climate strategy and transition plan. The scope of the policies covers all Fenix Outdoor entities if applicable, and they are updated if necessary. • Renewable energy policy (renewable energy sourcing criteria and targets, including heating and cooling) • Company car policy (procurement/leasing of company cars 02_CSR_2024_NATURE_08-17_FINAL.indd 1002_CSR_2024_NATURE_08-17_FINAL.indd 10 2025-03-31 12:502025-03-31 12:50 ===== SIDA 11 ===== CSR 2024 FENIX OUTDOOR INTERNATIONAL AG 11 including pollution-related limits) • Air freight policy (internal process description of how to act if additional air freight is needed (former guidance for internal carbon pricing) Other policies that do not target climate change primarily but align with our mitigation efforts are: • Fenix Outdoor Chemical Guideline (RSL) • Preferred fiber list (PFL) • Due diligence process for new store locations and interior design guideline for Frilufts Retail entities • Frilufts Retail Brand Supplier Code of Conduct Implementa- tion Policy (supports application of the Code of Conduct, which requires partners to also engage in climate actions in their opera- tions and deeper supply chain). 2.2.3 Actions Our actions in 2025 focused on energy efficiency and renewable electricity sourcing for our own operations as well as renewable electricity sourcing in production countries, capacity building and implementation projects. Ongoing and completed mitigation measures in our own operations in 2024 include: • Decarbonization of our car fleet: Updating of our car fleet with hybrid/electric cars in South Korea and Switzerland; release of a streamlined and more rigid car policy, installation of wall boxes in the Netherlands. • Decarbonization of our energy consumption: we extended the investment into energy attribute certificates from electricity to biogas certificates for some of our European sites as a first trial. Though market-based accounting for Scope 1 is under discus- sion, it shows the potential to cater as one solution especially for rented operations. The share of our renewable electricity for own and operated locations is now at 100% (2023: 99.99%), the share of renewable gas is at 54% (mainly biogas certificates and small volume contracts). The systematic purchase of green elec- tricity is having a significant impact on our scope 2 emissions, which decreased by 72% compared with the baseline year 2019. We adhered to the RE 100 criteria for energy attribute certificates (electricity) wherever possible but use iRECs ex domain for some countries. Forecasting for certificate sourcing was difficult for 2024 due to inconsistent data reporting and sources. Datasets for biogas consumption are estimated for a proportion of the consumption and are therefore expected to be inaccurate. We follow the discus- sion on market-based accounting for Scope 1 closely. • For our distribution center in Germany, we implemented motion detectors and LED in our picking area as well as air curtains for the roll-up doors. • Stores’ GBB scores increased by an average of 56 points in 2024, an 11% increase from 2023. 86% of stores achieved Gold status or above, while 19 stores achieved Platinum-level certification (53%). The increase was mainly driven by stores adopting energy efficiency measures, such as reducing air conditioner usage and turning off lights and technical equipment. • In 2024 Globetrotter became a member of the Outdoor Retail Climate Commitment (ORCC), a group of European out- door retailers who commit to the 1.5 degrees Celsius target and to transparently report on their GHG emissions and actions. The group speaks with one voice toward brands in the out- door industry to set science-based targets themselves and to start or continue the climate journey. Currently, 59% of brands based on sales volume demonstrate commitment toward cli- mate action. • We continue to reduce technical equipment (e.g., air condition- ing units in Austria) whenever possible. Ongoing and completed measures in our transport operations in 2024 include: • We optimized the order process to decrease the absolute amount of transport in Finland. • We optimized carton size to increase container load efficiency at Fjällräven. • To decarbonize our transport operations, Fjällräven invested in marine biofuel certificates for the first time in cooperation with our forwarder Flexport. The cooperation helped us to under- stand the sourcing process and the economic and operational implications. In total, we reduced our emissions from sea freight by 332 tons of CO 2e, a 95% reduction for Fjällräven sea ship- ments. Ongoing and completed measures in our production countries in 2024 include: • Finalizing of coal phase-out project in Vietnam with a Tier 1 supplier, which is shared amongst our Fenix Outdoor apparel brands (page 9: https://www.giz.de/de/downloads/giz2024-en- sustainability-forward-7-news-from-the-initiative-for-global- solidarity.pdf). • Collaborative renewable electricity sourcing study in Taiwan, conducted with EOG and a selected range of Tier 2 suppliers. The outcome shows that renewable electricity sourcing will remain an economic challenge for the time being. 0 4,500 9,000 13,500 18,000 0 4,500 9,000 13,500 18,000 REGO (MWh) RECs (MWh) Polish GO (MWh) I-REC ex. Domain (MWh) I-REC (MWh) GOs (MWh) Contract (MWh) 2019 2020 2021 2022 2023 2024 RENEWABLE ELECTRICITY – MARKET INSTRUMENT MIX 02_CSR_2024_NATURE_08-17_FINAL.indd 1102_CSR_2024_NATURE_08-17_FINAL.indd 11 2025-03-31 12:502025-03-31 12:50 ===== SIDA 12 ===== 12 CSR 2024 FENIX OUTDOOR INTERNATIONAL AG • By end of 2024, 20 of our Tier 1 suppliers conducted renewable energy feasibility studies according to their declaration in our GRI survey; at least 11 of them installed the panels. As far as we are aware, the share of suppliers sourcing renewable electricity increased compared with last year, covering 19% (2023: 13%) of our share of electricity reported through our GRI survey. The triad of our climate strategy is to avoid, reduce and compensate for unavoidable emissions. Because we are not yet able to eliminate our energy, transport and product-related emissions, we decided to compensate for them through investments in carbon-reduction proj- ects outside our value chain. The projects we have invested in can be identified below. 1 The total amount we compensated for was 20,780 t CO2e (2023: 20,472 t CO2e), which equals our own directly con- trolled emissions (Scope 1 and 2) and selected Scope 3 emissions: consumables, transport of shipments (up- and downstream), busi- ness travel, commutes and work-from-home emissions, waste and water, some product-related emissions and internal as well as exter- nal events (Classics, Globetrotter Frilufts, Kick Offs). Again, we con- sidered a couple of main suppliers. In addition, marketing materials such as catalogues and flyers were partially offset as part of the pur- chase agreement, which amounted to an offset of about 560 t CO 2e (2023: 485 t). Leather for Hanwag was compensated too, amounting to 46 t CO 2e. We increased the amount of carbon removals (Oxford category 4 & 5 projects) from carbon credits in our portfolio to 3% in 2024 from 0.8% in 2023. Our future sourcing strategy will focus on the steady increase of the share of removals instead of ton-to-ton compensa- tion. See table N-2 for details. Data collection was conducted in-house with the support of a newly implemented IT-based tool, the Novisto/Minimum suite. The goal is to have more accurate and consistent data in the future. However, since data providers needed to get used to the new tool, it led to some insecurities, since some datasets need to be evalu- ated manually, and data consistency and completeness cannot be fully assessed. There is still some ambiguity, and some developments can only be explained by possible misstatements in the past. When- ever we have new information (e.g., through ancillary cost invoices), when emission factors are updated or when misstatements are obvi- ous, we correct our figures for the past years in the upcoming report. In any event, again, we took a precautionary conservative approach and believe that – based on the data and emission factors we have or methodologies that are applied – we slightly overstate our emis- sions in some categories (e.g., raw materials, working from home, events) and understate them in others (e.g., transportation, energy consumption). Our data and methodology undergo spot analysis from the Swedish Textile Initiative for Climate Action (STICA) and underwent a CSRD-readiness check in 2024. More methodological details are published in Chapter 7 of this report. 2.2.4 Targets Our overall market-based gross carbon dioxide equivalents amounted to 80,534 t CO 2e (2023: 96,950 tCO2e, N-3). Our actions have a positive impact on our targets set in in our Cli- mate Strategy 2019-2025 (base year 2019) and in the Fenix Way, car- dinal direction “Nature” (page 42). 2.3 POLLUTION (E2) 2.3.1 Impacts, risks, and opportunities 2.3.1.1 Impacts During the reporting period, we were able to quantify our positive or negative potential impacts coming from pollution of air, water and soil to a certain extent. Our potential negative impacts come from our production processes and use of our products: chemical use in production, wastewater contamination, microfiber release during fabric manufacturing and washing at home, and fossil fuel consump- tion for transportation. There is no formal process to identify and assess pollution-related impacts except for chemical management. However, we work together with our system partners and use standardized industry tools to track pollution-related impact and to stay up to date with latest developments: • To measure pollutants from transportation we use industry- specific tools, e.g., EcoTransit and data provided by forward - ers for other emissions than CO 2e (NOx, SO2, NMHC, PM10). • To track environmental performance of our supply chain we included certain environmental parameters into our HREDD scheme; in addition, we use Higg FEM from Worldly and in- house designed surveys. • To understand and manage the number of microfibers released from our products, we are a member of The Microfiber Consor- tium and conduct shedding tests according to their standard. In addition, we do not intentionally add releasable microplastics to our products. We established a mandatory microfiber test for newly developed fleece fabrics and submit our test results to the Microfiber Consortium database. • Throughout the year we are in close contact with the Chemi- cals Group, run by RISE, working closely with European experts and global third-party laboratories to identify current and future chemical-related risks. Target KPI Status Future action Reduce Scope 1 and 2 by 40% Reduction in % 72%, reached Increase energy efficiency and improve fore- casting for EACs sourcing Reduce 50% in our net emissions per product produced (consi- dering purchased goods and servi- ces and upstream transportation) Reduction in % per product produced -15% Not on track; target will most likely not be reached; absolute net emissions decreased by 37%. Emphasize decoupling growth from emission stra- tegies for upco- ming climate strategy 100% renewable sourcing for purchased electricity Renewable MWh / Total MWh 100%, reached Embed renewable elec- tricity sourcing via contractual instruments to be less dependent on forecasts Optimize opera- tions, facilities, offices and stores in line with ener- gy consumption reduction targets – efficiency improvement 25% versus base- line year 2019 Overall energy consumption (in kWh) Use of energy/ capita and per turnover Overall: 1% increase Per capita: -17,5% Per net revenue (MEUR): -16% On track Focus on energy efficiency 1 https://app.ceezer.earth/share/portfolio/xwf9cmjn17 02_CSR_2024_NATURE_08-17_FINAL.indd 1202_CSR_2024_NATURE_08-17_FINAL.indd 12 2025-03-31 12:502025-03-31 12:50 ===== SIDA 13 ===== CSR 2024 FENIX OUTDOOR INTERNATIONAL AG 13 2.3.1.2 Risks Though we are not yet able to quantify pollution-related risks, we see the biggest risk coming from potential regulations on microfiber shedding and information disclosure as well as chemical spills in our production countries. 2.3.1.3 Opportunities We are not able to identify any possible positive effect stemming from pollution that gives us the impression to gain from opportuni- ties. We believe the biggest opportunity lies in applying the precau- tionary principle, avoiding pollution wherever possible to the great- est extent and staying ahead in terms of own safeguards. 2.3.2 Policies Our main policy is the Fenix Outdoor Chemical Guideline, which is updated on a yearly basis. Through the Fenix Outdoor Chemical Guideline, we mitigate neg- ative impacts related to pollution of air, water and soil through strict chemical management and proactive environmental strategies. Our approach includes: Air Pollution Mitigation: • Restricting the use of volatile organic compounds (VOCs), chlo- rinated solvents and other hazardous air pollutants (HAPs) in production processes. • Requiring compliance with the EU Industrial Emissions Direc- tive (IED) and VOC Directive 1999/13/EC. • Encouraging the adoption of water-based and less harmful alter- natives in dyeing, printing and finishing processes. Water Pollution Mitigation: • Ensuring compliance with regulations such as REACH and the Stockholm Convention on Persistent Organic Pollutants (POPs). • Prohibiting the use of hazardous substances such as Per- and Polyfluorinated Alkyl Substances (PFAS), heavy metals and azo dyes that degrade into carcinogenic arylamines. • Mandating suppliers to conduct routine water quality testing and report compliance with wastewater treatment standards. Soil Pollution Mitigation: • Banning persistent and bio-accumulative chemicals, including certain pesticides, biocides and heavy metals, to prevent contam- ination of soil. • Enforcing stringent chemical restrictions to ensure that sub- stances classified as persistent, mobile and toxic (PMT) or very persistent and very bio-accumulative (vPvB) are not used in our supply chain. • Adopting a precautionary principle, actively phasing out hazard- ous substances before legal mandates require it. The latest version of the RSL can be accessed here: https://www.fenix- outdoor.com/wp-content/uploads/2023/05/Chemical-Guideline_EN_ Rev-7.0-Fenix-Outdoor.pdf 2.3.3 Actions During 2024 we hosted the yearly supplier webinar linked to the launch of the updated 2024 version of the Chemicals Guideline. Our purpose was sharing background information regarding the added substances and support the chemicals management carried out by our suppliers. During the past year we have been sharing chemical topics, such as substances of concern, potential new regulations and other chemical-related topics of interest, in the Fenix Outdoor sus- 0.197 Database Average: 0.638 Average Filter Change (g/kg) Average tainability newsletters for suppliers. These communication instru- ments have helped to increase transparency and make sure that both our business partners and our organization are able to proactively work toward safer and more sustainable products. Even as PFAS remained a key focus area for the group in 2024, our attention shifted toward detecting and tracing BPS, which was added to California's Proposition 65 list in 2023. This intensified our efforts to monitor its presence in products and ensure compli- ance with regulatory requirements. The brands have requested sup- pliers to provide us with chemical test reports confirming com- pliance with our requirements and in addition to that, the brands have ordered more than 50 chemical tests on various materials to ensure compliance. When findings were detected the material team in each Fenix brand has followed up with the concerned business partner. We have also further consolidated and streamlined the testing process for all textile brands under the Fenix Outdoor umbrella, including microfiber shedding tests according to the standard developed by The Microfibre Consortium (TMC) and deepened our collaboration with our third-party partner. The CSR team has also held several internal trainings on chemical-related topics such as newly implemented or updated test standards and future potential challenges. Due to the reorganization that took place in the beginning of 2024, the CSR team has formed a new work - ing group, the Fenix Outdoor Chemical working group, with rep - resentatives from all Fenix brands. The purpose of this working group is to foster internal knowledge sharing and strengthen col - laboration across all Fenix Outdoor brands in regard to chemical management. Since microfiber shedding is a big and important topic and the choice of material highly affects the product’s impact, we are happy to see that the average test results for Fenix materials are below the average of TMC fiber-shedding results. The fact that Fjällräven only tested high-risk materials such as brushed piles and fleeces during the last year and still had a lower average proves the high awareness in the team and among our suppliers. Target KPI Status Future action Reduce the amount of toxic substances during the production processes to the greatest possible extent by 2025 No. of risk chemicals used On track Constant moni- toring of legal and scientific developments 2.3.4 Targets Pollution-related targets of 2025 in our cardinal direction “nature” (Fenix Way, page 42): An overview of our pollutants coming from transportation can be found in the annexed Table N-5. 02_CSR_2024_NATURE_08-17_FINAL.indd 1302_CSR_2024_NATURE_08-17_FINAL.indd 13 2025-03-31 12:502025-03-31 12:50 ===== SIDA 14 ===== 14 CSR 2024 FENIX OUTDOOR INTERNATIONAL AG • The search for new technologies with lower water impacts, e.g., in dyeing or tanning processes. • In a couple of North American stores water audits and data col- lection exercises have been conducted to outline options for water savings. • First draft of a guiding document for preferred dyeing technol- ogies based on the Best Available Techniques Reference Docu- ment for the Textile industry. 2.4 WATER AND MARINE RESOURCES (E3) 2.4.1 Impacts, risks, and opportunities We are aware that the garment industry has a major impact on the planet’s water basins, water quality and water scarcity, and we assume that our biggest negative impact comes from cultivation of natural fibers and fabric production (area of production and dye- ing methods as well as finishing processes). We do not operate in water-risk areas, but an analysis we conducted in 2022 showed that part of our Asian fabric supply will most likely be affected by water stress in 2030 if climate change proceeds unmitigated. Our fabrics are mainly produced in China, Taiwan and Italy. According to the WRI Aqueduct Water Risk Filter, our Chinese mills and Italian tan- neries could be affected by water stress by 2030. We see the risk of water stress, since our mills might compete with other water needs, e.g., for agriculture or food production. As more water-efficient or even waterless dyeing technologies arise, the risk could be mitigated in the future. Due to water stress, we see the risk of restricted or reg- ulated access to fresh water due to competitive water use in the two regions. This can influence production and lead times. Interruptions in our supply chain can lead to more expensive transport modali- ties (e.g., air shipments) or penalties in case we cannot deliver end products in time. Lost revenue from products that do not make it to the market in time can have significant impact on revenue and thus cash flow along the value chain. Knowing that our own operations account for only a very small share of our overall water footprint, we estimated the amount of water withdrawn from our own and operated locations was 155,963 m 3 (2023: 62,256 m3). We received much more water data from our own operations in 2024 than we have in previous years, which is the main reason for the reported increase in usage between 2023 and 2024. The main purpose is for drinking, cooking and household use, although some operations have vast green spaces that require care, and some of our mega stores have pools and diving tubes for equipment testing. The water we withdraw is mainly drawn from the community supply (ground- water and surface water, e.g., in northern Finland, South Korea, China and the Czech Republic). Since the datasets for our opera- tions were still fragmented in 2024, we added a 10% security sur- charge. Although we are only able to quantify our water footprint in the supply chain on an incomplete level, we monitor water manage- ment practices of our supply chain partners via the Higg FEM and certain risk criteria. We strive for water-reducing technologies and use technologies such as solution dye and CO 2 dyeing. Except for two Asian locations (Korea and Hong Kong), the efflu- ents were collected in community sewers and treated at a public treatment plant. No toxic chemicals were released by our own oper- ations into sewers or surface water bodies. The amount of water dis- charge was not precisely determined. We estimate that about 153,449 m 3 (2023: 51,319 m3)) were released by our operations (toilets, wash- ing, kitchens). In our own operations, we do not discharge any wastewater that requires chemical oxygen demand (COD) monitor- ing, nor do we handle or use halogenated absorbing organic com- pounds requiring AOX demand monitoring. Our wastewater is nor- mal household wastewater. 2.4.2 Policies There are no policies in place yet, since this was not a prioritized area of work so far. 2.4.3 Actions Ongoing and completed mitigation measures in 2024 include: • Encouraged reuse of water and rainwater capture. Target KPI Status Future action Significantly reduce the use of water includ- ing for chemical production of garment and finishing of fibers Total water used Not on track due to missing resources to track water consumption in dyeing processes properly Establish a better process and data availability to measure water consumption in fabric production 2.4.4 Targets Water-related targets in our cardinal direction “nature” (Fenix Way, page 42): 2.5 BIODIVERSITY AND ECOSYSTEMS (E4) 2.5.1 Impacts, risks, and opportunities We started to map our biodiversity imapcts and risks with the WWF biodiversity risk filter regarding our own operations and produc- tion sites and will continue to work on our biodiversity strategy. Our business model mainly depends on the input of raw materials (nat- ural and synthetic fibers), freshwater for fabric manufacturing and energy for all production stages. At the same time, our business pur- pose as an outdoor company depends heavily on the intactness of (wild) nature and the great outdoors, so we might be affected more than other companies by biodiversity loss. Our own operations (offices, production) do not have a mate - rial impact on endangered species. Except for one location, all of them are in urban areas. Our warehouses are located near or adjacent to natural parks and national wildlife refuges. We started looking into the impacts this implies. Our transportation could have an impact on endangered species using biofuels com - ing from agricultural sources that increase land use change or through carrying invasive species with freight or outside the car - rier (e.g., outside of container ships). With regard to biofuel, we adhere to the RED II criteria, which should ensure that biofuels are only generated from agricultural and food waste. In 2025 we will develop a policy on biofuel sourcing to ensure compliance for biofuels produced outside the EU. Since our forwarders operate in an international environment, we expect them to comply with national and local legislation and to implement measures needed to prevent illegal trade of endangered species, and to provide pest and invasive species control. The first analysis assumes that our severest impact on biodiver - sity and deforestation derives from our raw material purchases. Our fiber sourcing aims for the most sustainable fibers, meaning we source organic or regenerative fibers. By this, we reduce the risk for land use change, freshwater ecosystem use and change, soil and water pollution, which could threaten livelihoods of species and ecosystems. Main animal-based materials are leather, wool and down, whereas cotton accounts for most plant-based fibers. Metals and other inor- ganics make up most of our trim materials. As in the years before, we deliberately use recycled, organic and recyclable materials to decrease 02_CSR_2024_NATURE_08-17_FINAL.indd 1402_CSR_2024_NATURE_08-17_FINAL.indd 14 2025-03-31 12:502025-03-31 12:50 ===== SIDA 15 ===== CSR 2024 FENIX OUTDOOR INTERNATIONAL AG 15 Target KPI Status Future action To support conservation pro- jects and develop a biodiversity impact assessment process No KPI at this stage On track; several conservation projects sup- ported via Nature Bonus scheme at Frilufts Retail; first biodiver- sity assessment started Finalize assess- ments and come up with action points; finalize biodiversity stra- tegy and esta- blish respective policies Ensure that animals used for products (leather, wool, down, etc.) are not maltreated and ensure this through a control and management mechanism; traceability for leather, wool, down 1. Policies and processes inplace 2. No. of cases of animal maltreatment reported through auditing or whistle- blowing: zero On track. 1. Policy is in place. 2. Zero cases reported in 2024 1 - 2.5.4 Targetsour impact on land-use change and pesticide usage. The main guid- ance for animal derived fibers is our publicly available Animal Wel- fare Policy. Hanwag sources leather from well-known and traceable sources, and the hides come from inside Europe or from known farms. The impact on deforestation is assessed as low risk. All brands have brand-specific material targets that are aligned with our PFL. Addi- tional analysis needs to be conducted further down the supply chain for other tiers, especially fiber origin at the farm level. The risks also need to be evaluated more closely and accounted for in the envisioned biodiversity strategy. We encourage our entities to source certified recycled or more sustainable packaging options. In general, we see an opportunity to reach more people through our business model and bring them out in nature. This will inspire them to value and protect nature. On the other hand, we can sup- port biodiversity restoration by sourcing regenerative fibers, which will as well increase our resilience against pests compared with common agricultural practices (conventional or organic). 2.5.2 Policies The scope of the policies covers all Fenix Outdoor entities, and they are updated if necessary. Policies that guide and support our biodi- versity work are the following: • Fenix Outdoor Animal Welfare Policy (outlining our expecta- tions toward farm-level suppliers with regard to farming prac- tices and animal treatment). • Preferred fiber list for apparel brands (outlines more sustainable material solutions and helps us to measure sourcing progress of “more sustainable” materials, inspired by using leading industry benchmarks (e.g., Cascale’s Higg Index Material Sustainability Index and Textile Exchange Preferred Fiber Matrix). • For Globetrotter in 2024 a funding guideline related to Nature Bonus was established which defines funding objectives, require- ments and processes. 2.5.3 Actions Ongoing and completed mitigation measures in 2024 include: • Fjällräven increased its share of certified and traceable wool to 100% and increased share of recycled polyamide by 28% to 78% compared with 2023. • Frilufts (private label) successfully recertified according to the Responsible Down Standard (RDS). • Royal Robbins brand recertification according to the responsible wool standard (RWS) and Global Recycling Standard (GRS). • Royal Robbins met their goal of 80% recycled polyester by 2025, sourcing 83% recycled polyester in 2024. • Royal Robbins exceeded their goal of 50% certified, traceable wool by 19%, RWS certified wool accounted for 100% of wool used. • Fjällräven, Royal Robbins and Frilufts (private label) partici- pated in the public available Textile Exchange’s Corporate Fiber & Materials Benchmark survey. • Nature Bonus continued in 2024 and was applied by three of our five Frilufts Retailers. Nature Bonus is a funding model where 1% of members’ revenues are used to support civil-society-based cli- mate, environmental and nature conservation projects. The goal is to support projects that protect, preserve and restore local nature. • For our own operations and a set of suppliers we conducted a risk assessment with the help of the WWF Biodiversity Risk fil- ter, and we started with a first pre-assessment of our German warehouse. The first assessment showed that the actual ecosys- tem sensitivity of the adjacent area is of middle value (5 out of 10, mainly Greenland). 2.6 RESOURCE USE AND CIRCULAR ECONOMY (E5) 2.6.1 Impacts, risks and opportunities 2.6.1.1 Impacts Our main impacts on resource use and the circular economy come from our operations and current business model. While producing and selling products, we deplete resources through our raw mate- rial consumption for fabrics and packaging, and we generate waste during production, transport and warehousing, and for the end- customer once a product has reached its end of life. This not only affects natural resources but at the same time can impact biodiver - sity and climate change negatively. These overarching impacts can only be mitigated if we transition away from today’s more linear business model and if we manage to decouple resource consump- tion from economic growth. However, circular business models can also come with trade-offs on transportation or chemical treat - ments of the garments. With regard to waste generation, cutting spill is generated dur- ing the assembly of our products and is the main source of waste in our upstream supply chain. Depending on the country the tex - tile waste goes to downcycling or landfill. Improper landfilling can cause textile waste spill into the surrounding nature or leakage of landfill gas. Paper and plastics from packaging are most often recy - cled in our production countries as well, while hazardous waste handling falls under legal national requirements. Impacts cre- ated by third-party waste handling companies have not yet been investigated. To prevent textile scrap ending up in landfill or being burned, we conduct waste management trainings with our sup- pliers and involve them in training and implementation projects whenever possible, to achieve more than minimal compliance and closed loop waste management. Most of the waste in our own operations is generated by inbound shipments and ends up in our warehouses and stores. In those loca- tions, we work with local waste removal companies to recover and dispose of the waste. Biodiversity-related targets of 2025 in our cardinal direction “Nature” (Fenix Way, page 42): 1 After the cut-off date for the reporting period allegations by PETA regarding Fjällräven's wool sourcing surfaced. The case is still under investigation. 02_CSR_2024_NATURE_08-17_FINAL.indd 1502_CSR_2024_NATURE_08-17_FINAL.indd 15 2025-03-31 12:502025-03-31 12:50 ===== SIDA 16 ===== 16 CSR 2024 FENIX OUTDOOR INTERNATIONAL AG 2.6.1.2 Risks After taking first steps toward a more circular economy, we identi- fied a couple of risks that could affect a successful and fast adaptation and upscaling: • Increased demand for recycled and renewable fibers can lead to shortages in availability or higher prices. • Traceability efforts need to increase to ensure that recycled and renewable materials comply with legal and company require- ments, which will increase testing and internal costs. • Increased penalties in case of regulatory breach. • Unfavorable tax schemes. • Reputational damage if circular services and products do not hold up to our high-quality standards. 2.6.1.3 Opportunities In contrast, we also see opportunities to promote the circular econ- omy: • Strong market position as early adopter of fiber innovations and one-stop shop for innovative products. • Open up to new customer base and increase revenue from circu- lar business models. • Strengthen customer interaction and drive traffic to our stores and website with positive side offerings beyond the regular assortment • Reduce virgin material use, e.g., by refurbishing and reusing the old store interior. • Close the loop within our own value chain and have full control over resource inflow. • Decrease packaging volumes and global transportation flows by more localized operations. • Use circular economy principles (recyclability, durability, repair- ability) as design guidance for our product development. 2.6.2 Policies The scope of the policies covers all Fenix Outdoor entities if appli- cable, and they are updated if necessary. Our policies that target resource use and circular economy are: • Interior Design Guideline for Frilufts Retail Stores • Preferred Fiber List 2.6.3 Actions To manage potential negative impacts and risks coming from our fibers, we have classified the main textile fibers we use into our own PFL consisting of four categories: excellent, good, OK if crucial and “do not use. ” Using a preferred fiber, such as certified organic cotton, regenerative wool or certified man-made cellulosic fiber, is classified as excellent or good. Based on the 2024 fiber consumption for the Fenix Outdoor textile brands (Fjällräven, Frilufts-private label, Royal Robbins, Tierra) we are at a level of more than 77% of preferred tex- tile fibers from the fiber types we have classified (2023: 70%). The main driver behind the increase is the ongoing shift to recycled nylon by Fjällräven as well as the increased adoption of recycled polyester and Lyocell by Royal Robbins. The share of more recycled materials is at 36% (2023: 27%). Our inflow materials from the production of goods and consump- tion of stationary and sanitary articles (which includes office supplies and the like) are shown in Table N-6 and N-7. Ongoing and completed mitigation measures on resource use and waste management in 2024 include: • Running a pilot with a new traceability system to gain insights into supply chain of sustainable materials such as organic cotton and recycled polyester which led to signing of an agreement with the system provider for 2025 until 2027. • Increasing the recyclability of our receipts in North America, we introduced EcoChit Receipt Paper. EcoChit is BPA and BPS-free and is 100% recyclable. This means that we enable our customers to send less paper to the landfill as a company and also do not unnecessarily use potentially harmful chemicals. • In the United States, diverting 2.72 tons of soft plastics, mostly polybags and shrink wrap from our stores and warehouse, from the landfill to responsible recycling through EcoCycle. EcoCycle is a local recycler in Boulder County, Colorado, USA, specializ- ing in hard-to-recycle items. They work with Trex to recycle soft plastics into composite decking. • Due to the operational challenges we encountered during our small-scale test, we decided to restart our polybag-free project with a global, end-to-end process perspective. This project will kick off in 2025 and will entail work streams from each busi- ness unit within Fenix Outdoor. However, we already have some established products being shipped successfully and without negative impact on our operations or sales without individual polybags. We found that Frilufts (private label) already shipped about 311,305 items (socks and hard goods; 2023: 118,000 items) without individual polybags to our warehouse in Ludwigslust. Royal Robbins continued to ship selected styles sold in Europe without individual polybags. In 2024 the program covered seven styles, shipping 47,239 items roll-packed (2023: 15,700 items). • Two additional factories in Vietnam were trained on good waste management practices by our Social Compliance Auditor (23 in total since 2022), representing 75% of our Vietnamese Tier 1 fac- tories. To deepen the understanding of the local context and fos- ter implementation, 10 facilities joined the GIZ “Waste No More II Program” in Vietnam in 2024. The focus was on best prac- tice sharing, connecting with waste contractors and recyclers. We will also broaden the conversation with our suppliers out- side Vietnam. To help customers to take care of unwanted or dysfunctional clothes or to prolong a product’s lifetime whenever possible, we established a couple of circular business models. We offer repair and care services through all major Frilufts Retail companies in our own repair cen- ters in Sweden, Germany and our North American brand stores. In other regions we partner with external repair specialists. Since 2021 Globetrotter started buying and selling used equipment in all stores, and since 2022 another important milestone has been reached: Glo- betrotter customers can buy and sell used outdoor equipment online at secondhand.globetrotter.de. In 2024 we were able to develop and grow our offering of secondhand items in our stores and online, improve our care and repair services, improve the handling of claims and thus reduce the volume of product waste. In addition, the Frilufts Retailers (except Trekitt) offered custom- ers the rental of outdoor products through their store network. How- ever, Globetrotter still is the only one so far to allow customers to also rent products directly online. Ongoing and completed mitigation measures on circular economy in 2024 include: • Around 19,089 pairs of Hanwag shoes were resoled in 2024 (2023: 17,818) at our factory in Vierkirchen, Germany, and our partner factory in Croatia. • At Frilufts Retail the total amount of products cared or repaired was 43,041. After a strong increase in the year before, we saw 02_CSR_2024_NATURE_08-17_FINAL.indd 1602_CSR_2024_NATURE_08-17_FINAL.indd 16 2025-03-31 12:502025-03-31 12:50 ===== SIDA 17 ===== CSR 2024 FENIX OUTDOOR INTERNATIONAL AG 17 a decrease of 11% compared with last year. Looking at Globe- trotter the number of products serviced, either maintained or repaired, to prolong the lifetime of products increased by 16%. • Another record year related to secondhand: In total 45,977 secondhand products were sold, up 94% from the previous year. With this, the secondhand model within Frilufts Retail contin- ues to expand. • In September 2024, Fjällräven launched Pre-Loved in the United States, a branded resale site that allows customers to buy and sell used Fjällräven products. The goal of the site is to extend the life of Fjällräven products, thereby reducing their impact. Already in 2024, 925 items were sold through the Pre-Loved site. • At Frilufts Retail our final product and end of life solution is I:Collect. In 2024 the total take-back volume was 4.8 tons (up 14% from the previous year) and entered the I:Collect recycling stream. I:Collect follows the waste hierarchy approach. The aim is to uphold a high level of reuse and increase textile-to-textile recycling. Target KPI Status Future action Develop and implement a recycling strategy; pilot projects for “cradle to-cradle”; search for alternative or recycled materials No. of projects running Two projects completed, one in prepa- ration – needs attention To identify the right partners in our value chain, monitoring legal developments Improve the eco-profile of materials used: 90% shall be labeled as “pre- ferred” (e.g., organic, ecological, biodegrada- ble, nontoxic) % of prefer- red fibers according to PFL 77%, on track Develop an own eco-label to certify for products, sold in Fenix retail stores Label applied Achieved; A Greener Choice is adopted in all 5 retail entities Make AGC standard future fit with regard to upcoming EU legislation Monitor, analyze and reduce the discharge of waste with particular attention to hazardous waste; packaging reduction project - Reduction of 90% of single-use materials versus baseline year 2020. All remaining waste categories: minimum 90% in recy- cling systems (where possible); packaging reduction of 50% Volumes per waste category. develop waste reduction program Not on track; See Table N-8 2.6.4 Targets Resource and circular economy-related targets of 2025 in our cardi- nal direction “Nature” (Fenix Way, page 42): 02_CSR_2024_NATURE_08-17_FINAL.indd 1702_CSR_2024_NATURE_08-17_FINAL.indd 17 2025-03-31 12:502025-03-31 12:50 ===== SIDA 18 ===== 18 CSR 2024 FENIX OUTDOOR INTERNATIONAL AG 03_CSR_2024_ECONOMY_18-23_FINAL.indd 1803_CSR_2024_ECONOMY_18-23_FINAL.indd 18 2025-03-31 12:502025-03-31 12:50 ===== SIDA 19 ===== CSR 2024 FENIX OUTDOOR INTERNATIONAL AG 19 3. Economy and Governance (ESRS G1, S4) In order not to duplicate efforts, we refer to the annual report for eco- nomic figures, in particular to the tables in the management report. 3.1 GOVERNANCE FRAMEWORK (ESRS 2) Our corporate governance framework is designed to ensure trans- parency, accountability and ethical decision-making. It aligns with th e principles of the Corporate Sustainability Reporting Directive (CSRD) and integrates best practices from the European Sustainabil- ity Reporting Standards (ESRS). Our governance structure includes: • A B oard of Directors responsible for oversight of sustainability policies and risk management. • An Executive Leadership Team ensuring the implementation of sustainability initiatives. The oversight of the implementation and the progress made toward the goals of the sustainability strategy is an ongoing pro- cess at Fenix Outdoor and is executed by the Chairman of the Board an d CEO of the company. Twice a year, during our internal seasonal brands kick-off meetings, the CSO and his team update all partic- ipating employees on the progress made toward our sustainability go als. In 2024 this was done both in person and digitally. The hybrid version of the kick-off enables us to reach virtually the whole Fenix Outdoor organization, allowing for a wider spread of the messages and enhanced information flows. On emerging issues, we deliver information on an ad hoc basis directly to the affected departments and employees. The CSO delivers a Sustainability Summary Report and the CCO delivers a Compliance Report once a year to the Board. The CSO/CCO is entrusted with the implementation and com- munication of the sustainability and compliance strategy and goals wi thin Fenix Outdoor. He is also head of the central CSR Depart- ment and the decentralized CSR team in the Frilufts Retail Europe or ganization. 3. TABLES, PAGE 44–45 ORGANIZATIONAL STRUCTURE HANWAG TIERRAFJÄLLRÄVEN NATURKOMPANIET PARTIOAITTA FRILUFTSLAND GLOBETROTTER ROYAL ROBBINS PRESIDENT Alex Koska, COO and Global Sales EXEC. VICE PRESIDENT Martin Axelhed, Brands VICE PRESIDENT Henrik Hoffman, Frilufts VICE PRESIDENT Nathan Dopp, Fenix Outdoor, American Operations CFO Thomas Lindberg, Finance EXECUTIVE CHAIRMAN AND CEO Martin Nordin FINANCE HR FRILUFTSCORPORATE SERVICES (COMMON) GLOBAL SALES LEGAL BRANDS TREKITTITLOGISTICS AND SUPPLY CHAIN CSR DEVOLD* FRILUFTS RETAIL EUROPE AB FRILUFTSLANDNATURKOMPANIET GLOBETROTTER PARTIOAITTA TREKITT *65%, aquired March 4, 2025 03_CSR_2024_ECONOMY_18-23_FINAL.indd 1903_CSR_2024_ECONOMY_18-23_FINAL.indd 19 2025-03-31 13:332025-03-31 13:33 ===== SIDA 20 ===== 20 CSR 2024 FENIX OUTDOOR INTERNATIONAL AG Apart from annual briefings at the internal kick-offs, we also use other means of corporate communication such as general e-mails, an internal Sustainability site as an information resource, in-person as well as online training. Once a year we dedicate a whole month to Sustainability in our internal communication channels. We have also introduced a little monthly interview nugget, called “ A Cup of CSR, ” which featured 10-minute sustainability interviews with various rep- resentatives from the whole organization. The CSR reporting soft- ware, through which we collect information and data for the annual CSR Report in accordance with the Swiss Ordinance Art. 963ff and the EU CSRD/ESRS requirements, was changed in 2024. We now use the Novisto/Minimum suite which allows for more analytics and audit trails. 3.2 ETHICAL BUSINESS CONDUCT Adhering to laws and regulations is central to how we conduct our business. We require compliance with our Code of Conduct (CoC), and we try to ensure that our employees and business partners share the same understanding of compliant behavior and business deal- ings. We introduced a compliance management system in 2012, and we are continuously improving and developing this system. The Fenix Outdoor CMS concept complies with the main prevailing standards, namely IDW PS 980 and ISO 19600. We are committed to conducting business with integrity and in compliance with all appli- cable laws and regulations. Our Code of Conduct and Ethics outlines key principles, including: • Anti-bribery and anti-corruption measures. • Fair competition and market practices. • Confidentiality and data protection policies. • Responsible supply chain management. Our Code of Conduct is embedded in “The Fenix Way”; a more spe- cific Code of Conduct for suppliers has been updated and is pub- lished on our website available in various languages. All employees receive mandatory training on ethical business practices, and we have established a whistleblower mechanism to report any violations. In 2024, we continued to operate the whistleblowing hotline in accordance with EU Directive 2019/1937. Through the “Ethicspoint hotline” anyone can raise concerns about and to Fenix Outdoor with- out disclosing their name or contact information. However, a dia- logue function allows for interaction between the investigation team and the whistleblower. The hotline can be used in different languages such as Vietnamese, English and German and was communicated to internal staff and external stakeholders. We are also compliant with the national provisions in Sweden and Germany, for example, and encour- age our employees to also use the governmental whistleblowing provi- sions if they feel they are not getting the appropriate attention through internal channels when it comes to breaches of laws. STRUCTURE OF THE CSR TEAM CSO Global Sustainability Director Regional Sustainability Manager Senior Sustainability Manager Retail Junior Sustainability Associate Sustainability Analytics Specialist Senior Social Auditor Human Rights Coordinator Sustainability Manager Materials Sustainable Materials & Chemical Specialist Sustainability Environmental Manager Social Auditor Social Auditor 03_CSR_2024_ECONOMY_18-23_FINAL.indd 2003_CSR_2024_ECONOMY_18-23_FINAL.indd 20 2025-03-31 12:502025-03-31 12:50 ===== SIDA 21 ===== CSR 2024 FENIX OUTDOOR INTERNATIONAL AG 21 Following the Compliance Guidelines, the Chief Compliance Offi- cer (CCO) submitted his annual report to the board of Fenix Out- door International AG in April 2024. As part of the compliance sys- tem, all managers of the Fenix Outdoor group are obliged to sign and declare on an annual basis that they are following the compli- ance rules and that their staff members are aware of the system. For 2024 a total of 38 (47) declarations were received (27 in 2023). Compliance in Fenix Outdoor is not only a result of the ethi- cal principles mapped out in the Fenix Way and other internal doc- uments, it reflects also the owners’ will to systematize the handling of ethical and legal matters. In 2024, the number of cases directly reported to the CSO significantly declined over 2023. In particular, the Whistleblowing Hotline was used less frequently. The number of reports received were 21, including chemical tests failing in 2024. Relevant complaints mainly focused on HR administration matters and two harassment cases were reported. Nonetheless, in 2024 we did not receive any complaints or hints through our Whistleblowing tool from our supply chain and business partners or other members of the public that identified any breach of EU laws or alike. How- ever, some allegations and complaints were received in the US and through direct contacts with the Compliance and CSR Team. The cases we received are listed in Table E-1. 3.3 RISK MANAGEMENT AND INTERNAL CONTROLS Risk management is an integral part of our governance strategy. We have a structured risk assessment framework that identifies, evaluates and mitigates potential risks related to financial, operational and sus- tainability concerns. Key elements of our internal controls include: • Regular audits and compliance reviews in the upstream value chain and our own operations. • Clear policies for risk assessment and mitigation as part of the compliance system. • Cybersecurity and data protection measures to safeguard stake- holder information. 3.4 COMPLIANCE WITH REGULATORY REQUIREMENTS Our organization ensures compliance with relevant national and international laws, including EU directives, environmental regula- tions and labor standards. We have internal compliance monitor- ing through the different departments and work cross-sectorally to ensure that we are aware of regulatory changes and ensure alignment with all applicable laws, in particular: • The Corporate Sustainability Reporting Directive (CSRD). • The General Data Protection Regulation (GDPR). • German Supply Chain Due Diligence Law (LkSG). • Occupational health and safety regulations. • Financial and tax compliance requirements. • Labeling and product safety regulations. • Antitrust and unfair competition regulations. • Carbon Border Adjustment Mechanism (CBAM). • The EU Deforestation Regulation (EUDR). • The Extended Producers Responsibility regulations (EPR). • Packaging Directive • Waste Regulations 3.5 ANTI-CORRUPTION Since 2012 Fenix Outdoor has an elaborate Compliance program. The embedded Anti-Corruption Guideline describes the processes and behavioral requirements to prevent corruption in/with Fenix Outdoor. We enforce a zero-tolerance policy for corruption and unethical behavior. Our anti-corruption framework includes: • Strict guidelines on gifts, donations and conflicts of interest. 1 not included: Trekitt and Friluftsland data as this information could not be extracted from the systems. A new ERP platform will help change that in the future. The amounts, however, may not alter the picture given in any significant way. • A whistleblower protection program ensuring anonymity and protection from retaliation. • Regular internal training and external advice to uphold trans- parency and compliance. Among other things we have a strict prohibition on offering gifts or benefits to government officials and a gifts and benefits policy for business dealings. All offerings of entertainment invitations, gifts and benefits need approval from the Compliance Office. 3.6 BOARD OVERSIGHT AND ESG INTEGRATION The Chairman of the Board of Directors plays a key role in oversee- ing our ESG strategies and integrating them across all business func- tions. ESG considerations are embedded in our decision-making processes, with regular assessments of sustainability performance and goal alignment with international standards. 3.7 TAXONOMY 3.7.1 Eligible Activities Some of Fenix Outdoor’s business activities are EU Taxonomy eligible: • Operation of charging infrastructure for electric vehicles. • Secondhand offerings. • Care and repair services. • Rental services. In 2024 we invested 17,500 € in charging stations (CAPEX) and had 850 € (OPEX) maintenance costs. Our turnover with rental services amounted to 106,538 €, Care and Repair 1,440,180 € and Secondhand offerings 2,124,205 €. In the U.S. we achieved a turnover in secondhand of 37,800 €, with an OPEX of 2,670 € in a three-month period. Our Care and Repair activities in North America just began to offer pay-for services in 2024. We took in about 14,000 pieces but a financial figure cannot be established. OPEX and CAPEX could not be established as the accounting system so far has not been able to distinguish them from other cost elements. Operational costs for the CSR team and projects, which can be distinctly attributed to sustainability efforts, amounted to 1.7 million € in 2024. 3.7.2 Aligned Activities No activities were Taxonomy aligned. 3.8 DONATIONS AND SPONSORSHIP In 2024 we gave back to society in donations of about 970,000 € and gave out goods and financial support in sponsorship agreements of about 201,000 €. 3.9 A GREENER CHOICE A Greener Choice continued in 2024 to be our standard to evalu- ate the sustainability performance of products and to communi- cate qualifying products to customers. We sold 1,725,262 “ A Greener Choice” products (2023: 1,938,176; 2022: 1,797,998). Total 1 net sales with A Greener Choice amounted to 108,140,699 € and therefore A Greener Choice continues to represent a substantial part of total net sales. We engage in the industry initiative Sustainabil- ity Data Exchange Project to support efficiency in the data exchange between brands and retailers and in 2024 we have been able to utilize some SDEX data for A Greener Choice. To be able to meet the EU’s Empowering Consumers Directive and the Green Claim Directive we created a manual for A Greener Choice evaluation and communica- tion, and we will take further preparatory steps in 2025. 03_CSR_2024_ECONOMY_18-23_FINAL.indd 2103_CSR_2024_ECONOMY_18-23_FINAL.indd 21 2025-03-31 12:502025-03-31 12:50 ===== SIDA 22 ===== 22 CSR 2024 FENIX OUTDOOR INTERNATIONAL AG 3.10.1 Hanwag : Bever Gritstone II GTX, made with leftover materials In 2024, Hanwag collaborated on a special project with Bever, a major outdoor retailer in the Netherlands and one of Hanwag’s most important retail partners. Bever places great emphasis on sustainability and circu- larity – not only in the products they sell but also throughout the entire company. For example, they are currently building a new headquarters in Pijnacker, designed to be as environmentally friendly as possible. In November 2024, they reopened one of their stores in Utrecht, which, according to Bev- er’s CEO Albert Scholte, is the most circu- lar store in the world. All newly sold prod- ucts in this store are sustainably produced. Additionally, they offer a wide selection of "tweede kansjes" (secondhand products). To celebrate the reopening of this unique store, the Hanwag Benelux team came up with the idea of creating a special edition of the popular Hanwag Gritstone II GTX, made entirely from leftover materials – specifically, a beautiful mix of surplus colored leather. This exclusive version of the Gritstone II GTX is available only in Utrecht. Accord- ing to the store’s sales staff, customers from all over the country are traveling to purchase this special and sustainable edition. A great and successful example of upcycling and reusing leftover materials! 3.10.2 Fjällräven: Samlaren continued: The Samlaren Field repair kit Fjällräven is working hard to create durable and easily repairable products as part of the com- pany’s commitment to sustainability. The Samlaren field repair kit is part of this mission. It is a first aid kit for everyone’s gear – made to inspire and encourage people to repair rather than replace their outdoor equipment. Samlaren field repair is made from leftover fabric and has several essential items and space to add more so one will have what one needs to repair gear mid adventure. It contains essential items for easy repairs out in the field, such as static cord for multi- functional repairs, tension strap with hook, tension locks, replaceable buckles G1000 fabric swatches and a gear aid to patch up the down jacket or sleeping bag. With this item Fjällräven continues its circularity journey – not only by offering a nice piece from leftover materials but also to enable customers to repair their gear themselves. It is another step toward longevity and repairability. 3.10 THE FENIX OUTDOOR PRODUCT EXAMPLES 2024 WITH A SUSTAINABILITY FOCUS 03_CSR_2024_ECONOMY_18-23_FINAL.indd 2203_CSR_2024_ECONOMY_18-23_FINAL.indd 22 2025-03-31 12:502025-03-31 12:50 ===== SIDA 23 ===== CSR 2024 FENIX OUTDOOR INTERNATIONAL AG 23 3.10.4 Frilufts: Villarrica socks The Frilufts Villarrica socks are one of the bestsellers in the Frilufts assortment. The socks are made from 58% merino wool. The wool is certified by the NATIV A™ pro- tocol. The certification covers the areas of animal welfare, land and environmen- tal management as well as corporate social responsibility. The socks also qualify as A Greener Choice product in the Frilufts Retail busi- ness by using over 30% more preferred natural materials, responsible chemical management, improved ecological foot- print through use of over 50% lower- impact materials, production in a factory with a high social audit rating and produc- tion and knitting made in Europe. 3.10.3 Tierra: Tolpa Jacket Tolpa is a high-performance, sustainable shell jacket designed for year-round adven- tures. Made with Gore-Tex ePE, it offers durability, weather protection and breath- ability while remaining light and comfort- able with its C-Knit lining. Sustainability is at its core: 100% recy- cled polyester, made with material that underwent GRS and bluesign scrutiny, and is made without per- and polyfluorinated alkylic subastances (PFAS). The solution- dyed lining reduces environmental impact during production, and thoughtful design ensures versatility across activities like skiing, climbing and paddling. With an adjustable hood, ventilation zippers and smart pockets, Tolpa is built for both performance and the planet. 03_CSR_2024_ECONOMY_18-23_FINAL.indd 2303_CSR_2024_ECONOMY_18-23_FINAL.indd 23 2025-03-31 12:502025-03-31 12:50 ===== SIDA 24 ===== 24 CSR 2024 FENIX OUTDOOR INTERNATIONAL AG 04_CSR_2024_SOCIETY_24-31_FINAL.indd 2404_CSR_2024_SOCIETY_24-31_FINAL.indd 24 2025-03-31 12:502025-03-31 12:50 ===== SIDA 25 ===== CSR 2024 FENIX OUTDOOR INTERNATIONAL AG 25 4. Society (ESRS S2): Workers in the value chain 4.1 MATERIAL IMPACTS, RISKS AND OPPORTUNITIES INCLUDING PROCESS As an outdoor company that takes responsibility very seriously, we are committed to ethical purchasing, sourcing and production; to respect- ing human rights and the environment we operate in and promoting the dignity of all those who contribute to our business; and most impor- tantly to reducing the negative impact we create through our business. We have assessed our global supply chain and found that workers in the value chain are in focus to drive change and reduce negative impact by promoting fair labor, decent work (supporting our defined SDGs No. 5, 8, and 10) and to enhance workers’ rights (SDG No. 4). The governance of our positive and/or negative impact on our value chain is supported by several tools, internal and external policies, monitored by the social compliance staff, the human rights coordi- nator and the Human Rights Officer of the Fenix Outdoor Group, and actively embedded and driven by internal sourcing and mate- rial, purchasing and product development teams of each brand. The social compliance audits are conducted by our own team of three social auditors which is complemented outside of China and Viet- nam and supported by a third-party service-partner, Lloyds Register Quality Assurance (LRQA). As mentioned in previous reports, we support the approach of SLCP (self-assessments powered by Social Labor Convergence Project) to share social audits by using a com- mon framework for the industry and by reducing audit fatigue and costs working in collaboration with other brands. The SLCP was established within the context of the Global Framework Agreement of the United Nations Guiding Principles on Business and Human Rights (UNGPs) and the OECD Guideline for Multinational Enter- prises to respect human rights. It covers therefore the key human right risks as outlined in the OECD Guidance. The governance of our positive and/or negative impact on our value chain related to Frilufts Retail takes a similar stance and is in line with the most important Global Framework Agreements such as the United Nations Universal Declaration of Human Rights and the International Labor Organization´s Declaration on Fundamen- tal Principles and Rights to Work. The tools, policies, processes and actions are specifically tailored to the characteristics of retail busi- ness, while the Human Rights Officer for Globetrotter oversees human rights due diligence. We at Fenix Outdoor strongly agree that safe and fair working conditions shall be the standard, not the exception. That is why we became a member in 2013 and have been an accredited member of the multistakeholder organization Fair Labor Association (FLA) since 2018 1. Our affiliation at the FLA supports us advancing our Human Rights and Environmental Due Diligence (HREDD) risk management approach constantly to (new and upcoming) require- ments such as the German Supply Chain Due Diligence Act (“Liefer- kettensorgfaltspflichtengesetz / LkSG”), the Ordinance on the due diligence and transparency duties of Swiss companies with respect to minerals and metals from conflict zones and child labor (DDTrO) and/or the EU Corporate Sustainability Due Diligence Directive (CSDDD). To be compliant and go beyond, we constantly adapt our HREDD risk management according to new requirements. Fenix Outdoor, its brands and retail are therefore committed to iden- tifying, assessing and managing material impacts, risks and opportuni- ties related to workers in our value chains. This process is aligned with ESRS S2 requirements and follows a structured approach based on due diligence, stakeholder engagement and risk analysis frameworks. 4.1.1 Impacts Through our double materiality analysis, we systematically reassess actual and potential positive and negative impacts on value chain work- ers, considering ESRS sub-topics on working conditions, equal treat- ment and opportunities for all and other work-related rights such as: • Labor rights and working conditions such as wages, working hours, occupational health and safety. • Living wages and fair compensation by ensuring suppliers and partners provide adequate compensation. • Social protections and benefits, for example having access to healthcare, paid leave and insurance. • Human rights and responsible sourcing with topics such as forced and/or child labor, discrimination and freedom of association. • Grievance mechanisms and worker representation: Availability of secure channels for reporting concerns. • Environmental risks that might occur due to climate change. We assess these possible impacts through our due diligence pro- cesses which include: • Supply Chain Mapping and ESG-risk profiling including data from our third-party system partner LRQA with EiQ 2: Evaluat- ing currently Tier 1 and Tier 2 suppliers, if data is available. • Conducting and/or monitoring second- or third-party audits or verified assessments such as SLCP to prevent or mitigate possi- ble ESG risks. • Grievance data analysis: Identifying patterns from possible worker complaints and concerns. Incoming grievances are han- dled confidentially and with high priority. Find the process description here. 1 The FLA promotes human rights at work. It is an international network of companies, uni- versities and civil society organizations collaborating to ensure that millions of people work- ing at the world’s factories and farms are paid fairly and protected from risks to their health, safety and well-being. The FLA Accreditation is a rigorous, multi-year process, based on five milestones, that eval- uates a company’s systems to improve labor conditions in its Tier 1 and owned manufactur- ers. Each milestone represents key building blocks of an effective social compliance program that improves working conditions and worker well-being. Member companies are expected to maintain and update social compliance programs as FLA standards are updated. 2 EiQ is a so-called end-to-end supply chain ESG due diligence platform, which allows us to map HREDD issues on country level – even zoom in on provinces and specific product cate- gories. This system gives us the possibility to screen the severity of risks on country level and therefore the most negative impacts for the workers. The database is updated annually. 4. TABLES, PAGE 46–47 04_CSR_2024_SOCIETY_24-31_FINAL.indd 2504_CSR_2024_SOCIETY_24-31_FINAL.indd 25 2025-03-31 12:502025-03-31 12:50 ===== SIDA 26 ===== 26 CSR 2024 FENIX OUTDOOR INTERNATIONAL AG • Stakeholder engagement: Direct feedback from our suppliers, or value chain workers reaching us through our grievance channel or through our own local staff, or the WE program – our cur- rent dialogue program we partnered up with – and other possi- ble channels through NGOs or the like. Not part of the enumer- ation. We have identified the following impact for workers in our value chain through our materiality analysis: • Excessive overtime due to short-notice changes or order place- ments • Lack of work due to cancellations • Unfair payment practices due to price pressure • Subcontracting due to capacity shortages in a supplier (planning). We are also aware of several risks and human rights violations due to sub-developed standards in some countries regarding work- place safety, a healthy workplace and recruiting practices. We know about certain practices in one country that may be seen as “forced” or “bonded labor” practices such as the recruitment, treatment and pay- ment of migrant workers. 4.1.2 Risks To measure the impact, Fenix Brands and Frilufts Retail conduct reg- ular ESG due diligence including risk assessments to identify and evaluate the adverse impact. For that, we use a variety of tools to cease, prevent or mitigate possible ESG risks: • Country risk screening: We run regular internal screenings of risks in the production countries where we as well as our part- ners are manufacturing by analyzing different criteria (e.g., ESG risks, corruption, etc.). • Results of HREDD-audits and verified assessments which we cluster in different grades (A and B are preferred, C is acceptable but needs remediation, D is not acceptable and signals an urgent need to remediate or stop the partnership). • Internal risk assessments per brand by using factors such as the purchased volume (FOB), order quantities, EiQ country risk score and HREDD audit results. • Event-related risk assessment for retail brands according to LkSG risk categories: type and scope of business activity, ability to influence the direct cause and our contribution to the poten- tial cause, severity and probability of human rights violation. • Sustainability scorecard results on facilities of Tier 1 supplier. • Wage documentation received and filled out by our Tier 1 supplier. We use the following tools to measure those risks: • Risk scores including environmental impacts from EiQ and other internationally recognized parties. • HREDD audit or verified assessment results, remediation efforts, feedback from the local WE team facilitator. • Internal ESG risk assessments and sustainability scorecard on Tier 1 factory level build into our PLM-system. • FLA wage dashboard. • Internal systems and external resources such as industry reports and statements, news, benchmarks, etc. Here is one example of a case from 2024: We conducted a verified SLCP at one of our supplier factories in Southeast Asia which exposed internal harassment and unfair work- ing practices. This high risk for workers was handled with great care by including our partner, the WE program, who set up dialogues with affected workers and the factory management. The risks could therefore be lowered and the working conditions stabilized again. The identified extreme risks for workers in the value chain of Fenix Brands in 2024 are presented in table S-3 and S-4. Overview of the results the workers satisfaction study. 4.1.3 Opportunities Fenix Outdoor actively pursues opportunities to enhance worker well-being and drive sustainable value creation in our supply chain. Frilufts Retail strives to have 100% of all vendors, which in this case are known reputable brands, explicitly committed to our human rights requirements, as well as other ESG requirements. By making ESG parameters a contractual obligation and by engaging with part- ners on these provisions, there is great opportunity to align forces toward promoting worker welfare and to facilitate sustainable value creation across our supply chain and industry. Upon analyzing our retail portfolio, we observed that not all partners are yet involved in preferred multi-stakeholder initiatives such as the FLA or FWF . This presents a significant opportunity: Joining such initiatives can enhance social management and HREDD by offering structured frameworks, tools and guidance to identify and mitigate human rights risks in supply chains. Participation can also enable these part- ners to align with international labor standards, strengthen internal policies and proactively manage social risks for improved compli- ance and impact. Additionally, our internal ESG brand performance check serves not only as an internal risk assessment tool but also pro- vides brands with valuable insights into potential areas for improve- ment. We therefore share these results and offer guidance on how to address these opportunities for growth. Looking at the Fenix brands, one opportunity is driving capac- ity training and enhancing worker engagement in the value chain of Fenix brands. That is why we started proactively to engage with the WE program by selecting two strategic Tier-1 suppliers in Vietnam. In addition to that, we continued analyzing worker wages to mea- In 2024 Fenix Outdoor kicked off with the WE program to improve working conditions in our supply chains. WE believe the key to improvement lies in dialogue between all the parties involved to change relationships and ways of working in a way that protects human rights. The WE program is a dialogue-based program that runs in fac- tories all over the world. During their factory visits the WE facilita- tors design sessions on human rights enhancement, creating a safe space to generate dialogue with management and workers. They come together to hold courageous conversations on human rights in their factories, and together they come up with solutions to improve working conditions. The WE program works with self-sustaining local teams, who understand the complex realities on the ground deeply. Huan Nguyen Doan and Khuyen Nguyen are facilitators for the WE pro- gram in Vietnam. In the factories they work with a factory WE team consisting of workers and managers. We talked with them about their first year with Fenix Outdoor: Where was your main focus when the WE program started in the factories? Khuyen: “Our main focus was to build up a trustful relationship with the management and to ensure that we had workers in the room during our WE sessions. Both these goals caused some ten - sion initially. During our first management meeting, we noticed there was this feeling that we came on behalf of the brand to check on them. People were not open to share. We were told everything was fine and there were no topics to have dialogue on. Fostering Meaningful Dialogue: The WE Program's First Year 04_CSR_2024_SOCIETY_24-31_FINAL.indd 2604_CSR_2024_SOCIETY_24-31_FINAL.indd 26 2025-03-31 12:502025-03-31 12:50 ===== SIDA 27 ===== CSR 2024 FENIX OUTDOOR INTERNATIONAL AG 27 sure the living wage gaps by using available benchmarks such as the Global Living Wage Coalition (GLWC). These results are embraced by our internal purchasing teams which use the data to negotiate and calculate order prices with the respected supplier to ensure fair wages to value chain workers. Find the results in table S-5. Next to that, we engage in multi-stakeholder organizations by staying an accredited member of the Fair Labor Association since 2018 and engage with NGOs regarding ethical labor practices. Climate change is always on our mind. Therefore, we invest in dif- ferent collaborative programs to support our supply chain partners to transform to a more environmentally friendly future. More details are explained in the previous chapter Nature. We constantly monitor and improve our due diligence approach by tracking the number of HREDD assessments we have conducted (view tables S-1 and S-2); the number of reported labor rights viola- tions and their resolved cases; and the feedback we receive from pro- grams such as the WE program. 4.2 POLICIES The commitment through our internal management instruments – the Fenix Way Management Compass® – and our alignment with international principles such as the UNGC, the UNGPs, the OECD Guidelines for Multinational Enterprises, as well as the UN SDGs, which ensures that our human rights understanding extends to all individuals who are impacted by Fenix Outdoor including col- leagues, customers, suppliers, workers within our supply chains, and the communities in which we operate. Fenix Outdoor brands are obliged to use one aligned due diligence process when it comes to protecting human rights, and responsibil- ities for the environment in the supply chain are determined in the internal Corporate Fenix Outdoor Due Diligence Policy. This also applies to the Frilufts Retail operations. As part of the due diligence, our suppliers must sign our publicly shared Supplier Code of Conduct (CoC), which is well aligned with the benchmark of the FLA and is available in different languages. In 2024, our updated CoC was sent to and signed by almost all our direct and nominated indirect suppliers. Fenix Outdoor has a strict internal policy about its production countries. Before entering a new country, we investigate different parameters around corruption, human rights (including forced and/ or child labor, minimum wages, etc.), political and environmental risks as well as business opportunities. Annually, we re-evaluate the production countries we are in by doing ESG-driven risk analysis. This internal guidance is available to dedicated persons and is shared on a yearly basis as a part of the sustainable supply chain activities. Additionally, we have internal social compliance and human rights guidelines next to our internal responsible purchasing and production policy which are mandatory for our brands operations to follow. Both policies were updated in 2024 to embrace new require- ments of due diligence and strengthen responsible purchasing. Fur- thermore, the brands in 2024 developed internal documents regard- ing a responsible onboarding and exiting process for direct contract partners. All requirements were summarized in an updated version of the vendor manual and shared with the value chain partner. The topic of fair compensation is defined in our publicly available policy. When we found out that only team leaders had been selected for the factory WE team, we said we could not go along with that and wanted to hear from workers themselves during our meetings. The sessions we had during our kick-off meeting with workers and man - agers proved to be a turning point in terms of trust and benefits of the program. ” Why is it so important to have everyone in the room during WE sessions? Huan: “During our kick-off meeting, attended by managers and work- ers, we asked them if they had dialogue in their factory. Manage- ment said yes, but upon further questioning we found out the only topic being discussed once a year was production. When we asked people to interview each other in small groups about their major con- cerns, one topic emerged: the recently introduced piece rate sys- tem. In follow-up sessions we found out it put a lot of stress on work- ers, because they were afraid about not meeting targets and having their pay reduced. They came to work very early, went home very late and some of them kept working during their lunch break. In ensu- ing conversations, we found out the team leaders in the factory had not shared that workers would get at least the minimum payment. They kept that information to themselves, thinking it would moti- vate workers to work harder. The management of the factory wasn’t aware of this. We had at least three rounds of dialogue about pay- ment and working hours to solve these issues, discussing the risk of worker exhaustion in this system, but also the fact that it resulted in competition between workers and an increase in mistakes. After the dialogue, the factory figured out a new way to set up communication with the workers and they adapted the piece rate system in such a way that it increased workers’ income. ” What difference have the factories noticed since they started with the WE program? Huan: “Management shared with us that they can listen more to workers and understand more from their perspective. They feel very proud about the dialogue that’s taking place now. People can talk, share ideas and co-create meaningful change. I think we came at the right moment. One of the factories has a 10% worker turnover and they really wanted to know why people left. The other factory, which had recently opened, had a serious problem with harassment and we have worked with them on establishing a grievance channel through which people can report these things. ” How does the WE program bring hidden issue to light? Khuyen: “One of the factories was reluctant to work with us. Their audit grades had been good the past years and they delivered qual- ity and compliance and everything. It was only through dialogue that severe issues surfaced, that Fenix and even the management itself were not aware of. In many Vietnamese factories dialogue hap- pens only once or twice a year, very often in the form of a Q&A ses- sion that is conducted by the management. What you can establish in one or two hours per year is very limited. The factory visits by WE program take place three or four times a year. Dialogue takes at least three hours and we deep dive into one or two topics. Meanwhile, in between visits, the factory WE team works on these topics, because we want to create ownership of the program. ” Fostering Meaningful Dialogue: The WE Program's First Year 04_CSR_2024_SOCIETY_24-31_FINAL.indd 2704_CSR_2024_SOCIETY_24-31_FINAL.indd 27 2025-03-31 12:502025-03-31 12:50 ===== SIDA 28 ===== 28 CSR 2024 FENIX OUTDOOR INTERNATIONAL AG Our annually updated statements on Modern Slavery and Human Trafficking and of Compliance with California Transparency in Sup- ply Chain Acts support our collective approach to protect the rights of workers throughout our global value chain. To ensure further transparency we provide all external stakehold- ers with our online reporting grievance channel for complaints and reports of human rights violations and share the description of the process. We publish our Tier 1 manufacturers on our own website as well as update the data annually on the Open Supply Hub website. A key element of the due diligence process for the retail brand part- ners related to protecting human rights and responsibilities for the environment is the Frilufts Retail Brand Supplier Code of Con- duct (CoC) and a corresponding internal implementation policy. All brand partners need to explicitly agree to the requirements as part of their contractual obligation. Annually, we update our Statement on the German Supply Chain Due Diligence Act (LkSG) as well as the statement on the Norwegian Transparency Act. For the sake of full transparency toward stakeholders, in addition to the statements as well as CoC, we provide access to Fenix’s Ethics Points and a report on our human rights due diligence on our retail websites. 4.3 ACTIONS The brands of Fenix Outdoor take proactive and measurable actions to address material impacts, risks and opportunities related to work- ers in our value chain. These actions focus on preventing adverse impacts, ensuring compliance with international labor standards and creating positive social outcomes. Therefore, we continuously strive for strengthening our HREDD and risk management approach by: • Assessing risks for workers on supplier level o Conducting regular HREDD audits and monitor verified SLCP-assessments (table S-1). o Mitigating and remediating findings of assessments through our own social compliance staff. o Running Brand-specific risk assessment taking different cri- teria as purchasing volumes and FOB, country risk criteria as audit results into account to identify high-risk suppliers. o Driving the use of internal supplier scorecards which embraces social and environmental criteria (table S-6). o Using feedback from NGOs and shared public information to identify systematic labor and environmental risks. • Enhancing responsible purchasing practices by o Integrating fair practices into supplier agreements. o Improving internal policies, e.g., onboarding documents, responsible purchasing policy, etc., describing the HRDD pro- cess and environmental engagement. o Using the evaluation results of FLA ’s assessment. Other actions we took in 2024 to keep on improving working condi- tions in our supply chain are: • Integrating the WE program at two strategic Tier 1 suppliers as a capacity-building program going beyond audit results as men- tioned in chapter 4.1.3 Opportunities. • Promoting trainings especially in Vietnam in 2024 to enhance the knowledge of fair labor practices in 2024: Two suppliers par- ticipated in a workshop led by the GIZ about grievance manage- ment and strengthening of a respectful and fair working culture. Another supplier took part in an advisory project on HREDD led by the local Responsible Business Helpdesk together with the GIZ. During the project they could not only enhance their internal risk identification through active involvement of work- ers during the risk assessment but also develop and implement a comprehensive self-assessment tool kit allowing the supplier to evaluate compliance with labor standards systematically. Engag- ing workers in the process increased awareness and ownership of compliance practices at all levels. Two other suppliers attended the WE workshop on two-way communication and effective grievance mechanisms. • Improving internal knowledge: Joined a HREDD training offered by the GIZ in Vietnam; trained internal staff about RPP and Fair Compensation, tested online trainings on forced labor and GHG with our partner LRQA. • Collaborating with the FLA and our supply chain partner to implement fair wages by collecting data, analyzing it regarding international living wage benchmarks (e.g., GLWC) and inte- grating it into purchasing practices. See table S-5. • Working within industry collaborations as the FLA and AAFA (Apparel & Footwear Industry Commitment) to drive systemic change by signing the “Commitment to Responsible Recruit- ment” – a proactive industry effort to address potential forced labor risks for migrant workers in the global supply chain. • Interacting with a U.S.-based NGO by remediating with industry partner severe migrant worker labor conditions. • Kicking off the living wage journey of owned factories by start- ing data collection through the FLA Fair Compensation Toolkit. • Understanding the knowledge regarding grievance mechanism in our supplier chain by sending a yearly survey to our Tier 1 and 2 suppliers: o Occurrence of Grievances (T1 & 2 supplier): 75% reported that they have not had any grievances; 19% indicated that they have experienced grievances, 6% did not provide an answer o Provided trainings on grievance mechanism: 78% reported that they did conduct internal training on the grievance mechanism, 16% indicated that they did not have such train- ing, 6% did not provide an answer). o Measuring training effectiveness: A large portion of respon- dents (31%) reported conducting tests or quizzes after their training to measure the effectiveness. Other forms are employee surveys as well as direct feedback through questions or interviews of the training participants. o Information channels: Nearly half of the respondents (46%) reported that they inform new workers in introduction and orientation trainings about the grievance mechanism. Other channels are annual trainings (9%), handbooks (2%), verbal instructions and management instructions (6%), posters (3%), notice boards (2%) and other forms of information. All impacts of our actions are reported on a yearly basis in the CSR Report of Fenix Outdoor as well as with internal stakehold- ers such as the management teams during ongoing internal reports. Already in 2023, we started to write an excerpt of the holistic CSR report for the brand Fjällräven and continued it in 2024. Other Fenix brands as Hanwag will most likely follow Fjällrävens’ actions. On a monthly basis, current social compliance audit results, CAP statuses, upcoming audit dates, sentinels and such are being shared with dedicated colleagues and decision makers. We use internal sys- tems like the PLM to share assessed data like the sustainability score- card on factory level within the company. These also have access to the EiQ system. When it comes to further preparing our partners (indirect and direct) for upcoming HREDD legislation, we use annual question- naires, webinars, meetings and our own sustainability newsletter to 04_CSR_2024_SOCIETY_24-31_FINAL.indd 2804_CSR_2024_SOCIETY_24-31_FINAL.indd 28 2025-03-31 12:502025-03-31 12:50 ===== SIDA 29 ===== CSR 2024 FENIX OUTDOOR INTERNATIONAL AG 29 share knowledge. In doing so, we want to support our partners to reflect on their own actions and support them to become compliant. However, if we do face any high-risk violations of HREDD obliga- tions, we will not stop discussing the topics until we find acceptable solutions with our suppliers or, in the worst case, we will have to end our relationship. When this step needs to be taken, we follow a fair retrenchment process aligned with the FLA principles. Another way to be transparent about our actions is being part of the first cohort of FLA members to share publicly results of our annual evaluation. In 2024, we were assessed on FLA ’s principle one: Top Management Commitment (result: 98%), principle two: Responsible Purchasing and Production Practices (result: 87%) and principle three: Head Office Training (result: 95%). The results will be added to the FLA website sometime in 2025. Within our retail operations we have taken proactive, measur- able steps to address key impacts, risks and opportunities concern- ing human rights in the supply chain related to our brand partners. These efforts are aimed at preventing negative outcomes, ensuring adherence to international labor standards and fostering positive social results. Actions in 2024 included: To enhance due diligence and specifically meet the requirements outlined in LkSG §9 Abs. 3, we conducted an event-related risk anal- ysis for products “Made in” in Myanmar. The analysis identified 14 brands, accounting for 1.6% of total sales volume. In the evaluation we applied four risk categories, each assessed on a scale from 1 to 3, where 1 represented the lowest and 3 the highest risk. Hence, a maximum score is 12, with a threshold of 7 points set as the level requiring further investigation. The analysis was conducted using the following risk categories: • Type and scope of business activity. • Depending on the overall sales volume, we categorized them into low (annual turnover is less than an average daily store turn- over), medium (annual turnover up to the daily turnover of all stores) and high (above the thresholds). • Ability to influence the direct cause and our contribution to the potential cause. • Severity and probability of human rights violations. Following the internal evaluation process, the results indicated that four brands achieved a total of 5 points, six brands scored 6 points, and three brands attained 7 points. The three brands with the highest scores were selected for further follow-up. Online meetings were conducted with each of these brands, during which they out- lined their activities and were requested to provide detailed informa- tion about their efforts to mitigate the risks of human rights viola- tions in the production of their products in Myanmar. As a result of these discussions, it was confirmed that for one of the brands there will be no future orders involving products manufactured in Myan- mar. The other two brands provided sufficient information to dem- onstrate that measures are in place to address human rights concerns specific to the production environment in Myanmar. Another action was the support of a call to action for responsible business conduct in Bangladesh. Political instability in Bangladesh, marked by violent demonstrations and nationwide protests starting in July 2024 and culminating in the resignation of the prime min- ister, has significantly impacted the local garment industry. These events have led to adverse effects on workers, including reduced wages and overtime. To mitigate these challenges and safeguard the rights and well- being of garment workers during this turbulent period, lead- ing industry initiatives have released a joint statement emphasiz- ing the importance of responsible business conduct in Bangladesh. The statement outlines key recommendations to address potential adverse impacts on workers and uphold ethical practices within the industry. It serves as a guiding framework for businesses to navigate the current challenges while ensuring the welfare of their workforce. In alignment with these principles, we have identified all 32 brands within our assortment that source products from Bangladesh. Each has been provided with the joint statement and urged to prior- itize vigilance and a firm commitment to implementing its recom- mendations. By fostering adherence to these ethical guidelines, we aim to support sustainable and responsible practices across our sup- ply chain during this critical time. To assess the risk exposure associated with noncommercial goods, the Finance Department provided transaction data from the past several years, encompassing a total of 12,000 entries. These transac- tions were filtered based on the Group’s Country Risk List, leaving only 21 relevant positions. Among these, only three positions originated from 2023 and 2024. Two of these were expense entries unrelated to noncommer- cial goods, while the third was identified as a service, likely associ- ated with a social audit. Based on this analysis, there is no evidence of direct human rights risks arising from noncommercial goods. This finding supports the Group’s overall human rights strategy, which prioritizes addressing risks related to the Group’s own brands and, subsequently, external brands within the retail assortment. As one of the first companies, we reported our HRDD activities to the Federal Office of Economics and Export Control (BAFA). On glo- betrotter.de we made this report available to the public as well as a gen- eral statement on human rights in the supply chain, the Frilufts Retail Brand Supplier CoC and a link to the Group’s Ethics Point. 4.4 TARGETS Targets of 2025 in our cardinal direction “Society” (Fenix Way, page 43): Taking on societal responsibility includes not only being a good cor- porate citizen but also assisting in improving and developing com- munities as well as adhering to a high level of business ethics. 1. Stakeholder engagement – Hold stakeholder dialogues on a regular basis. KPI: At least one meeting every other year; at least one sur- vey every third year. Results in 2024: • We held several internal meetings regarding sustainability topics with various attendees. • We engaged in different public forums (e.g., ISPO, Scope 3 forum by Innovation forum, Outdoor Magazin, GLWC webi- nar, etc.). • We shared sustainability news through a newsletter with our value chain partner and engaged through meetings, audits, sup- ply chain programs and an annual survey. • We were involved in various conversations with non-govern- mental organizations and end-customers. Future focus: • Identify and prioritize stakeholders based on influence, interest and impacts. • Strengthen the communication and transparency, e.g., two-way dialogues with interactive discussions. • Localize the engagement and conduct business-unit-specific forums. • Improve feedback loops. • Widen the collaboration with external partners. 04_CSR_2024_SOCIETY_24-31_FINAL.indd 2904_CSR_2024_SOCIETY_24-31_FINAL.indd 29 2025-03-31 12:502025-03-31 12:50 ===== SIDA 30 ===== 30 CSR 2024 FENIX OUTDOOR INTERNATIONAL AG 2. Human rights – Conduct regular human-rights-related activities. KPI: Ongoing human rights (and environmental) assessments and trainings; zero incidents in each year. Results in 2024: The total number of verified HREDD assessments increased over time. However, there was a decrease in 2021 due to Covid-19 restric- tions. Due to the increase, the audit findings also went up. The share of preferred A and B Grade results also advanced (2023 = 57%, 2024 = 63%). Future focus: • Broaden the assessment scope to Tier 2 and Tier 3 by gaining more transparency through traceability. • Further involve risk focus through analysis by country, purchas- ing volume and ESG-identified risks to focus on high-risk sup- pliers. • Continuously roll out the WE program and other value chain improvement programs to strategic suppliers to enhance worker engagement. • Implement country risk assessment for onboarding retail brand partners and further use of ESG Brand performance check to identify brand partners with higher risk profiles and to prevent and/or mitigate negative impacts and risks. 3. Product responsibility – Monitor incidents related to use of safe handling of Fenix Outdoor products. KPI: Reported incidents as ratio number of cases/new products per relevant category, target: zero incidents Results in 2024: No reported incidents. Future focus: Due to the change from GRI to CSRD reporting, this question has not been added since it is not a requirement of the ESRS. We plan to add this criterion to the next report. 4. Business ethics – Train all staff and supplier on the CoC. KPI: > % of staff / supplier trained target: 100% trained staff; 80% trained suppliers (Tier 1 & 2). Results in 2024: The Supplier CoC was updated in 2024. Therefore 100% staff and contracted value chain actors had to be trained. Percentage of retail brand suppliers that have signed the CoC: 97.5% Percentage of Fenix brand suppliers that signed the CoC: • 100% of traders • 85% of T1 suppliers • 57% of T2 suppliers Percentage of Fenix brand suppliers that signed the latest CoC update in 2024: • 75% of Tier 1 suppliers • 36% of Tier 2 suppliers Future focus: • Do regular refresher trainings on the Supplier CoC. • Keep pushing suppliers to sign the latest version of the Supplier CoC. • Constantly update the content of the Supplier CoC in alignment with updated requirements. 5. Business Ethics – Zero incidents of corrupt behavior, bribes or embezzlements. KPI: Zero reported incidents. Result in 2024: 1 reported incident on Tier 1 level. Future focus: Do regular refresher trainings on our Fenix Way values including corrupt behavior, bribes and embezzlements. 6. Transparency – Transparency of products and materials. KPI: Full transparency for own products and materials representing 80% of brand value. Result in 2024: Not achieved. Target will be moved to the strategy 2030. However, we ran a successful pilot with a new system provider in 2024 tracing six defined styles down to Tier-n level (in most cases 3 or 4). Future focus: In 2025, we plan to start scaling up our traceability endeavor together with identified system partners focusing especially on textile prod- ucts and materials which are more sustainable (e.g., recycled poly- ester, organic cotton, etc.). We plan to gain 100% traceability in the defined textile scope by the end of 2027. 0 30 60 90 120 0 28 55 83 110 b) Verified assessments per audit grade (A & B grade are preferred; C is accept- able but needs improvement; D is not acceptable and needs immediate action) 2019 2020 2021 2022 2023 2024 A B C DVERIFIED ASSESSMENTS PER AUDIT GRADE 0 30 60 90 120 0 28 55 83 110 a) Number of verified HREDD assessments 2019 2020 2021 2022 2023 2024 NUMBER OF HREDD ASSESSMENTS 61 74 54 76 93 108 04_CSR_2024_SOCIETY_24-31_FINAL.indd 3004_CSR_2024_SOCIETY_24-31_FINAL.indd 30 2025-03-31 12:502025-03-31 12:50 ===== SIDA 31 ===== CSR 2024 FENIX OUTDOOR INTERNATIONAL AG 31 Hanwag, production site, Vierkirchen. Hanwag production site, Hungary. Hanwag production site, Hungary. 04_CSR_2024_SOCIETY_24-31_FINAL.indd 3104_CSR_2024_SOCIETY_24-31_FINAL.indd 31 2025-03-31 12:502025-03-31 12:50 ===== SIDA 32 ===== 32 CSR 2024 FENIX OUTDOOR INTERNATIONAL AG 05_CSR_2024_WELL-BEING_32-37_FINAL.indd 3205_CSR_2024_WELL-BEING_32-37_FINAL.indd 32 2025-03-31 12:502025-03-31 12:50 ===== SIDA 33 ===== CSR 2024 FENIX OUTDOOR INTERNATIONAL AG 33 5.1 OVERVIEW This section provides an overview of our organization’s commitment to social responsibility concerning our own workforce, in compli- ance with the European Sustainability Reporting Standards (ESRS S1) under the Corporate Sustainability Reporting Directive (CSRD). Our approach ensures transparency in workforce-related matters, including working conditions, diversity and inclusion, health and safety, and employee engagement. 5.2 MATERIAL IMPACTS, RISKS AND OPPORTUNITIES 5.2.1 Impacts We have identified the following impacts through our materiality analysis: • Job creation and providing an income that is above minimum wages and allows for a discretionary income • Adherence to legal provisions in legislation where we operate (mainly Europe, North America and China) • Health and safety at the workplace • Commute • Fair treatment of employees (non-discrimination, non-harass- ing environment) • Social protection (e.g., social security like health insurance, sick leave, parental leave etc.) • Work-family-life balance • Personal and professional development • Right to collective bargaining 5.2.2 Risks The main risks we have identified are: • Low productivity due to high number of sick days/absences • Insecurity/fear among employees due to layoffs and through changes/reorganizations/economic downturn • High employee fluctuation • Conflicts in the workplace 5.2.3 Opportunities Actions and internal proceedings but also the establishment of a trusted and long-term corporate culture like our Fenix Way posi- tively impact our own workforce and result in opportunities we may benefit from: • Employee satisfaction/engagement • Individual development plans • Internal staffing of management positions • Support for employees with children and relatives in need of care (retention) • Positive effects of good working conditions (e.g., adequate pay) • Diversity through inclusion (e.g., corporate integration manage- ment) The above-mentioned impacts, risks and opportunities are gener- ally valid and widespread. However, the individual scale and scope are dependent on the specific country or geographical area as well as the type of operation the employee is working in (e.g., manu- facturing, warehouse staff, sales, back-office, etc.). Certain impacts (e.g. family-related leave) affect specific groups (e.g., women) in par- ticular. There are no operations at significant risk of incidents of child labor or forced and bonded labor in our own operations. Our poli- cies apply company-wide and globally (unless otherwise noted). 5.2.4 Workforce Composition and Structure In 2024, Fenix Outdoor employed 2,790 FTEs in our various enti- ties and countries (2023: 2,972; see Table W-1). This is a decrease of about 6.1%. Most of our employees are permanently employed but we employ seasonal workers in retail and warehouse operations dur- ing peak seasons. We employed 29 female and 34 male apprentices in the year 2024. By doing so we provide the opportunity for young people to learn a profession. Since all apprentices were hired in Germany, one has to acknowledge the German dual educational system. Apprentices will get a school education tailored toward their profession and on- the-job-training with us. This way, young people and beginners in a job receive a thorough two to three years of education and are well equipped afterward for the global job markets. For 2024, the picture is a bit mixed. The staff turnover rate in 2024 (defined as all employees who left versus total number of employ- ees) over all operations including the retail business is 35.24% (2023: 17.5%). The ratio between females and males leaving Fenix Out- door remained to be virtually equal at F/M 1.2:1 (2023: ratio F/M 0.99:1), meaning that roughly 55% of staff members leaving were females (50% in 2023). We define significant fluctuation as 25% or more employees leaving. The reason for the increase is mainly due to downward economic trends and some operational reorganizations in North America and disinvestments. When it comes to tempo- rary and seasonal workers, significant fluctuations can be detected. We see peak and low seasons in warehouses and stores and therefore have more or less temporary non-employees in our operations. A concrete figure is difficult to establish. A possible alarming signal or operational risk does not stem from this fact. All eligible staff members are entitled to parental leave (i.e., par- ents with children under a certain age); the definition differs from country to country, so an overall percentage value has limitations in validity. Using the Novisto system’s consolidation, 82.5% of our employees are eligible to take family leave (2023: 909 individuals based on reported data). In 2024, 2.1% of those took family-related leave, including 1.65% of females and 0.35 % of males. After 12 months, all (2023: 192 individuals returned after 12 months based on reported data) were still employed. Since parental leave is regulated differently in various countries, the figures are not comparable to any specific time frame as in particular in Europe prolongations or shifts in time-off are commonly agreed upon between the individual and the employer. Therefore, we are unable to assess how many of those who did not return after 12 months or do not show up in the statis- tics prolonged their leave or left Fenix Outdoor. Other metrics and KPIs referring to our own workforce (ESRS S1) can be found in the following tables: • W – 2: Breakdown by employment type (permanent, temporary, full-time, part-time, etc.) • W – 3: Workforce segmentation by job category and seniority levels • Representation of minority groups: no data available. Our company 5. WELL-BEING (ESRS S1) 5. TABLES, PAGE 48–51 05_CSR_2024_WELL-BEING_32-37_FINAL.indd 3305_CSR_2024_WELL-BEING_32-37_FINAL.indd 33 2025-03-31 12:502025-03-31 12:50 ===== SIDA 34 ===== 34 CSR 2024 FENIX OUTDOOR INTERNATIONAL AG respects and protects the rights of our employees. That personal information is not to be shared publicly. • W- 4: Key workplace safety statistics (e.g., accident rate, lost time injury frequency rate) • W – 5: Total hours of training provided per employee • Investment in upskilling and reskilling programs: no data avail- able – see personnel costs in annual report • W – 6: Various KPIs: Workforce covered by collective bargaining agreements; Payment Ratios; Pay Gap • W – 7: Working hours and flexibility at the workplace. 5.3 POLICIES Fenix Outdoor has developed into one of the leading outdoor com- panies in Europe with global representation. We have grown organi- cally and inorganically over the past decade. This led to several orga- nizational adjustments and changes, and we are continuing this journey in the years to come. Our north star, however, remains our Fenix Way with its Fenix Management Compass®. The Fenix Way is a guidance tool that also describes and defines our corporate culture and serves as the reference point in times when insecurity and lack of orientation seem to govern. Within the Fenix Way we have clearly expressed our commit- ment to respecting human rights, including labor rights, safe and healthy workplaces and a discretionary income for our employees. We are taking responsibility for the company’s business activities throughout our value chain. The Fenix Way is built on our commit- ment to • The International Declaration of Human Rights. • The UN Guiding Principles on Business and Human Rights. • The Principles of the UN Global Compact. • The UN Sustainable Development Goals. • The ILO Core Labor Conventions. • The respect for and protection of nature. • The UN FCCC Fashion Charter for Climate Action. • The societies in which we operate and for which we produce, practicing good corporate citizenship and upholding the highest standards of ethical integrity. • Human well-being, in particular for the well-being of our employees all over the world who deserve a safe and healthy working environment, and our customers and other stakehold- ers who should not suffer any harm from our products. • The economic development of our company as well as the societ- ies we are operating in. The globe whistleblowing hotline and ombudsman’s office are open to all employees and business partners. Fenix Outdoor is also committed to observe the international obligations, resulting from our global business presence, such as our regular update of the Statement on Modern Slavery and Human Trafficking as well as the Statement of Compliance with the Califor- nia Transparency in the Supply Chain Act (SB 567). See also Chap- ter 4, Society. In our Code of Conduct, which builds on our aforementioned commitments, we express zero tolerance regarding child labor, forced and bonded labor as well as zero tolerance regarding cor - rupt and unethical business practices. The values and principles of our Code of Conduct must always be observed and adhered to by all employees and managers of the company. Every Fenix Outdoor employee needs to sign the Code of Conduct and our ethical prin - ciples upon recruitment. The signatures are filed by our Human Resources Department and are the basis for the contractual rela- tionship. Depending on the jurisdiction, we have a number of complemen- tary and more in-depth rules that are applicable during the employ- ment period and form part of our Compliance Program. Certain HR-related policies are either based on legal requirements, or form part of an employee handbook. The documents outline the regula- tions that employees, managers and the HR department must adhere to in order to ensure legal and ethical practices within our organi- zation. The policies cover a range of topics including equal employ- ment opportunity, working hours, freedom of association, minimum wages, etc. We adhere to legal requirements in all jurisdictions we are operat- ing in to foster a fair, respectful and secure working environment. We view diversity within our teams as a unique strength, bring- ing together individuals with varied experiences, beliefs, back - grounds and perspectives. Diversity and respect are also integral aspects of our Fenix Way and comprise multiple dimensions, such as gender, age, ethnicity, religion and personal beliefs, regional origin, sexual identity, disability and social background. Our group-wide Anti-Discrimination Policy is binding to ensure that no employee is subject to any kind of discrimination. Our equal opportunity and recruiting principles underline our commitment to treating all employees fairly and equally and making qualifi - cations, skills and experience the basis for the recruitment. Our globally accessible career platform provides up-to-date records on recruitment. Our policy is to promote equal opportunities for men and women, and our board expressly demands equal opportunity recruitment into managerial positions. The proportion of female middle manag- ers that Fenix Outdoor currently employs is proportional to the pre- vious year (2023: 44%). The Executive Management is 25% female (0% in 2023). Our board is 17% female. Fenix Outdoor has committed to Freedom of Association and rec- ognizes the right to collective bargaining as a universal right. While we know that the main risks regarding our own workforce are related to possible health and safety risks, stemming from the day-to-day operations (such as back pain, vision impairment, risk of stumbling over ill-secured cables and the like), Fenix Outdoor adheres to a mix of international, national and industry health and safety regulations. We conduct risk assessments, implement pre- ventive measures and train employees, using especially designated safety representatives. State labor safety bodies enforce compliance through the imposing of fines that we were not subject to in 2024. Continuous monitoring, procedure updates and employee involve- ment are vital for successful risk awareness and management. In particular in the EU, we have established the legally required work- place environment and health and safety committees. In the United States we follow the recommendations and inspection reports issued by OSHA. In other locations, local managers and by delega- tion employees are entrusted with the adherence to high health and safety standards. In several locations we offer voluntary health and fitness oppor- tunities, such as individual fitness plans and healthy nutrition rec- ommendations, and we enable employees to practice and improve skills and widen their view when taking part in our events such as the Fjällräven Classic, which enables our employees to truly experi- ence the outdoors while using our own products and gear. This way we encourage a healthy lifestyle and collect user experiences, which in turn will influence the construction and functionality of the next generation of products. All our policies and offerings have been communicated to our employees and frequent training and refreshers, mandatory as well as voluntary, are offered and provided on a regular basis through in- person meetings but also via our eLearning tools. 05_CSR_2024_WELL-BEING_32-37_FINAL.indd 3405_CSR_2024_WELL-BEING_32-37_FINAL.indd 34 2025-03-31 12:502025-03-31 12:50 ===== SIDA 35 ===== CSR 2024 FENIX OUTDOOR INTERNATIONAL AG 35 05_CSR_2024_WELL-BEING_32-37_FINAL.indd 3505_CSR_2024_WELL-BEING_32-37_FINAL.indd 35 2025-03-31 12:502025-03-31 12:50 ===== SIDA 36 ===== 36 CSR 2024 FENIX OUTDOOR INTERNATIONAL AG 5.4 PROCESSES We actively promote continuous, open and transparent commu- nication at all levels. Engagement takes various forms, both infor- mal and formal, including annual performance reviews, employee surveys, workshops and interactions with workers’ representa- tives, such as the Work Councils. The internal engagement surveys (employee net promoter score, eNPS) allow the management teams and heads of departments to assess the effectiveness of our initia - tives and their respective outcomes and shed some light on the level of commitment of our workforce to the company and its val- ues and goals. 5.5 ACTIONS Our aim is to enable all our employees to stay up to date with recent developments in technical developments and legal changes. There- fore, we offer a wide array of training and development opportu- nities. Training hours for all employees are not logged in centrally, nor do we have a system according to which reliable data can be obtained. This has been a problem in the past, and as a result the fig- ures given cannot be compared. However, in an unweighted and very rough estimation (number of hours given on average per person per reported entity) we can establish that about 40.29 hours in training were given to female and male employees in 2024 (2023: 21.9 hours for female employees and 23.9 hours for male). The figures vary dra- matically in detail, not so much by gender but more because the overall number of employees in each job category or region is very different and not all categories are present in all markets. Therefore, a high variability in training data is pertinent. These courses include professional training, e.g., product and skills training for sales staff but also training on sustainability, compliance and the like. We also offer employee development programs, such as our Graduate Pro- gram to enable and equip employees with the needed skills and experience to further their professional careers. But not only that: in many locations we offer schooling and individual personal devel- opment opportunities, depending on the legal framework and busi- ness needs. Performance reviews are part of our development assessment process but vary widely from country to country. No group- wide data processing protocol exists. However, as a general rec - ommendation, all managers and employees should meet once a year to discuss the goals and tasks and achievement levels of the past year, the development needs for the year ahead, the over - all way of working together including the review also of the man - ager’s performance in leadership and communication and inter- team and interpersonal relationships. These files are logged and will serve as the basis for the review of the coming year. In addi - tion, new tools like Perdoo for Objective Key Results (OKRs) and KPI tracking are introduced to facilitate the review and become less driven by individual assessments or assumptions rather than measurable facts. Due to the lack of systematic support, there is no reliable data on the percentage of performance reviews that took place. An educated guess for the main operations would be 75% to 85% coverage. Through deliberate actions and steering by the Board and Man- agement, Fenix Outdoor is steadily increasing the number of female leaders on various levels. Working hours, wages and benefits We adhere to the laws when it comes to working hours. At a min- imum we adhere to the International Labor Organization conven- tions regarding rights at work and apply them to both internal and external service providers. In 2024, 3,380,224 hours (n = 2,790) were worked (2023: 3,372,943 hours, n= 2,972) by own employees. The number of non-employees and the number of hours they worked for our company could not be established this year. Collection of infor- mation on these types of employees (often employed through agen- cies and support staff in stores and warehouses during peak seasons) is a manual process and not recorded in systems. Therefore, the com- pleteness and validity of data is poor, and we therefore decided not to present it this year. In 2023 we were able to identify 119 persons not employed by us but working for us. Our wage levels are competitive, and we offer several benefits to our staff. In various locations we offer different benefits for employ- ees such as health club memberships, subsidized tickets for public transportation, pension and retirement insurance schemes (covering various entities in all regions to different degrees), external advice on psychological and physical health, life insurance, health care or health insurance (where not legally required), invalidity coverage, child daycare or financial support to parents with children, free or subsidized meals, staff discounts, employee clothing and the like. These differ from entity to entity and depend on legal or negotiated frameworks. Data for Board compensation and its composition can 05_CSR_2024_WELL-BEING_32-37_FINAL.indd 3605_CSR_2024_WELL-BEING_32-37_FINAL.indd 36 2025-03-31 12:502025-03-31 12:50 ===== SIDA 37 ===== CSR 2024 FENIX OUTDOOR INTERNATIONAL AG 37 be found in the annual report under the related heading of the man- agement report chapter. A good outdoor spirit and understanding of what and what not to do in the wilderness are important to Fenix Outdoor, and on a case- by-case basis we encourage our employees to participate in outdoor activities such as educational outdoor trainings or the Fjällräven Classic event. In most locations, business operations permitting, we offer flexible working hours. However, we see ourselves as an “in office company, ” with four mandatory days in the office per week in 2024 and one flex/home office day per week in accordance with the team’s needs. In addition, and working conditions permitting, every employee is entitled to two times five days (five per half year) per year to “work from anywhere. ” Fenix Outdoor strives to take a non-discriminatory approach by paying equal wages to men and women, and by exceeding the mini- mum wage levels where possible. This also applies to employees not employed by Fenix Outdoor but working for us on our premises. We hire local managers for the operations in the respective countries. At the end of 2024, we see that we are on track and keep the set bound- aries as targeted for 2025. However, a deeper look reveals that we are weak in the areas of employee engagement when it comes to corporate decisions and personal development options, and we lack discipline in some learning and development areas. There are manifold reasons for this – among others, an overwhelming number of new rules and regu- lations and internal as well as external frameworks which require atten- tion all at the same time. In fact, mandatory e-learnings on anti-cor- ruption or data protection are provided but they are down-prioritized by individuals and teams if similarly mandatory learnings for the day- to-day job are offered at the same time. However, we can establish that about 600 employees underwent an e-learning on sustainability or com- pliance during 2024, and since some employees tend to learn and work in groups (partly also due to the lack of individual computer access rights), we are confident that the target groups have been reached. The year ahead will mark the end of our five-year sustainability journey, and we will take honest account of what we were able to ini- tiate or achieve when it comes to our responsibility toward our own employees. In a politically volatile environment with insecurity and several unknowns, as well as changes in direction on virtually a daily basis, we do not know yet what this year will hold for us. But one thing is very clear to all of us at Fenix Outdoor: we stand strong in our values and our commitment to creating a life-worthy, sustainable and adven- turous natural world that we will all love to live in and enjoy. 5.6 TARGETS In our Fenix Way, the targets 2020 – 2025 according to ESRS S1 (see page 43) are defined as follows: Compass Area Issue Description of 2025 Target KPI KPI Target With respect to our staff members our aim is to ensure that they enjoy a high level of safety and health at the workplace and that they are inspired and passionate Child Labor Forced and compulsory labor Zero incidents in our production lines and processes No. of incidents Zero incidents Health and Safety Regular monitoring No. of audits; no. of incidents incidents / audit: < 1,5 Health and Safety Safe workplace No. of incidents No. of ioncidents / employee Health and Safety/ Supply Chain Monitoring and audit results from supply chain visits No. of “major non-compliance finding”/no. of audits below 0,5 Training and staff satisfaction Conduct staff surveys, provide education/training opportunities Surveys and results reflected in cor- porate policies and strategies; target: great place to work awards as of 2025 E-learning Global E.-learnings on sustainability Ratio: participants to Group FTE Target ratio 1:1 per e-learning unit 05_CSR_2024_WELL-BEING_32-37_FINAL.indd 3705_CSR_2024_WELL-BEING_32-37_FINAL.indd 37 2025-03-31 12:502025-03-31 12:50 ===== SIDA 38 ===== 38 CSR 2024 FENIX OUTDOOR INTERNATIONAL AG Energy consumption and mix 2024 2023 (1) Fuel consumption from coal and coal products (MWh) 0 0 (2) Fuel consumption from crude oil and petroleum products (MWh) 42 54 (3) Fuel consumption from natural gas (MWh) 2,135 5,431 (4) Fuel consumption from other non-renewable sources (MWh) 0 0 (5) Consumption from nuclear products (MWh) 0 0 (6) Consumption of purchased or acquired electricity, heat, steam, and cooling from non-renewable sources (MWh) 5,528 5,210 (7) Total non-renewable energy consumption (MWh) (calculated as the sum of lines 1 to 6) 7,705 10,695 Share of non-renewable sources in total energy consumption (%) 31 39 (8) Fuel consumption for renewable sources (including biomass, biogas, non-fossil fuel waste, renewable hydrogen, etc.) (MWh) 2,524 318 (9) Consumption of purchased or acquired electricity, heat, steam, and cooling from renewable sources (MWh) 17,897 16,735 (10) The consumption of self-generated non-fuel renewable energy (MWh) 0 0 (11) Total renewable energy consumption (MWh) (calculated as the sum of lines 8 to 10) 20,421 17,053 Share of renewable sources in total energy consumption (%) 69 61 Total energy consumption (MWh) (calculated as the sum of lines 7 and 11) 28,126 27,748 N-1 ENERGY CONSUMPTION AND MIX 2024 2023 Total volume of carbon credits cancelled in reporting year (t) 20,780 20,822 Share of removal projects (%) 3 0.8 Share of reduction projects (%) 97 99.2 Share of credits from Verra (%) 77 84.9 Share of credits from Gold Standard (%) 19 14.9 Share of credits from Climate Action Reserve (%) 3 0 Share of credits from American Carbon Registry (%) 0 0 Share of credits from Puro (%) 0 0 Share of credits from Riverse (%) 1 0 Share of credits from Plan Vivo (%) 0 0 Share of credits from Carbon Standards International (%) 0 0.3 Share of credits from OxCarbon (%) 0 0 Share of credits from ISO 14064 (%) 0 0 Share of credits that are not registered (%) 0 0 Share from projects in EU (%) 0 0 Share of credits with corresponding adjustment (%) 0 0 Total volume of carbon credits purchased for future retirements (t) 3,220 4,000 N-2 GHG REMOVALS AND STORAGE 2. NATURE, PAGE 08–17 6. Performance Metrics and KPIs 06_CSR_2024_PERFORMANCE METRICS and KPIs_38-49_FINAL.indd 3806_CSR_2024_PERFORMANCE METRICS and KPIs_38-49_FINAL.indd 38 2025-03-31 12:502025-03-31 12:50 ===== SIDA 39 ===== CSR 2024 FENIX OUTDOOR INTERNATIONAL AG 39 2. NATURE, PAGE 08–17N-3 GHG BREAKDOWN ABSOLUTE *Including growth rate Base year (2019) Absolut 2023 (tCO2eq) Absolut 2024 (tCO2eq) Absolute re- duction vs base year (tCO2e) Relative reductions vs base year (%) Explanation of progress 2025 2030 2050 Annual % target vs. Base year* Scope 1 emissions Gross Scope 1 GHG emissions (tCO2eq) 1,353 1,139 1,083 -270 -20 Mainly through decrease in gas consumption from our warehouse in Almere, the US and better data availability in Germany; after Biogas certificates have been deducted, 556t CO2e Scope 1 emissions are left (-51% reduction). 40% reduction absolute for Scope 1 & 2 combined (market- based) Approval expected in 2025 Approval expected in 2025 9% Percentage of Scope 1 GHG emissions from regulated emission trading schemes (%) 0 0 0 0 0 Not applicable Scope 2 emissions Gross location-based Scope 2 GHG emissions (tCO2eq) 14,645 9,845 11,706 -2,939 -20 Includes CO2e emissions from CH4 and N2O Gross market-based Scope 2 GHG emissions (tCO2eq) 3,758 721 828 2,930 -72 Includes CO2e emissions from CH4 and N2O Scope 3 emissions Purchased Goods and Services 63,707 52,522 46,087 -17,620 -28 Higher percentage of renewable electricty sourcing by suppliers and higher proportion of actual data; less raw material usage due to less product produced. Increase of recycled Nylon within Fjällräven. 50% reduc- tion per product produced 13% Capital Goods - - - - - Relevant, first calculations will be done in 2025 Fuel- and Energy-Related Activities Not Included in Scope 1 or Scope 2 925 880 580 -112 -37 Upstream Transportation and Distribution 5,013 4,116 3,637 -1,376 -27 After adoption of marine biofuel certificates (331 t CO 2e removals): 3,527 t CO2e; w/o RFI 2.7 Waste Generation in Operations 20 53 92 72 360 Increase due to higher data transparency and completeness. Business Travel 3,898 2,597 2,014 -1,884 -48 Increase in electric and hybrid cars, incl. RFI 2.7 Employee Commuting 1,353 1,476 1,533 180 13 Survey participants in 2024: 577 (2023: 674); fewer employees Upstream leased assessts NA NA NA NA NA Not applicable Downstream Transportation and Distribution (paid by customer) NA 129 222 - - Before, emissions from downstream T&D have been included in upstream due to lack of transparency. Processing of sold products NA NA NA NA NA Not applicable Use of Sold Products - - - - - No baseline calculation yet due to lack of data availability from use phase End-of-Life Treatment of Sold Products 30,216 33,499 24,374 -5,842 -19 Calculatory mistake in baseline calculation leads to an overstated reduction Downstream Leased Assets NA NA NA NA NA Not applicable Franchises - - - - - Due to very few Franchises <5 included in Scope 1 and 2 Investments NA NA NA NA NA Not applicable Total gross locations based emissions (tCO2eq) 121,110 106,074 91,247 29,968 -25 Total gross market based emissions (tCO2eq) 110,223 96,950 81,169 29,689 -27 Biogenic emissions outside of scopes (t CO2eq) from biogas consumption 0 63 502 Emissions that have been calculated but not included in the inventory because base line data was not available: Emissions from Frilufts Retail Assortment (excl. Fenix brands, t CO 2e) 42,251 Emissions stemming from Website sessions (t CO2e) 134 Emissions have been calculated in line with the Greenhouse Gas Protocol and reporting requirements from STICA whenever possible. Please find detailed information on emission factors, data impairments and caveats in Chapter 7 in this report. 06_CSR_2024_PERFORMANCE METRICS and KPIs_38-49_FINAL.indd 3906_CSR_2024_PERFORMANCE METRICS and KPIs_38-49_FINAL.indd 39 2025-03-31 12:502025-03-31 12:50 ===== SIDA 40 ===== 40 CSR 2023 FENIX OUTDOOR INTERNATIONAL AG 2. NATURE, PAGE 08–17 MATERIALS Amount conventional (kg) Amount more sustainable (kg) Amount recycled (kg) Amount CO2e compensated (kg) MARKETING 395,324 637,724 51,564 559,318 Cardboard 2,648 4,010 Glue 2 Glue (glue stick, tape) 2,494 8,856 Ink 9,189 3,732 32,218 Iron 5 Paper 37, 473 629,302 50,544 517,318 Plastic 599 3 Polyester 7 Polyethylen (XPE) 350 PVC 649 32 138 (Stainless) Steel 92 Textile 1,897 12 Wood 887 55 428 Other Materials 2,012 581 1,020 339 Other Metals 19 19 OFFICE SUPPLY 9,003 9,344 1,092 Cardboard 731 493 14 Cleaning Products 463 Glue (glue stick, tape) 350 2 0 Metals 111 8 Paper 4,133 8,777 875 Paper Towels 1,249 Plastic 1,357 19 107 Toner/Ink 49 27 61 Other Materials 560 19 35 N-6 CONSUMABLES Other emissions in kg 2024 2023 NOx 15,385 14,728 SO2 3,843 10,564 NMHC 3,188 1,292 PM10 849 1,044 N-5 POLLUTANTS N-4 GHG intensity per net revenue 2024 2023 YoY comparison (%) Total GHG emissions (location-based) tCO2e 91 412 106 074 −14 Total GHG emissions (market-based) tCO2e 81 334 96 950 −16 Total GHG emissions (location-based) per net revenue (tCO2eq/Monetary unit) 133 143 −7 Total GHG emissions (market-based) per net revenue (tCO2eq/Monetary unit) 119 131 −10 Net revenue used to calculate GHG intensity (MEUR) 686 740 −7 Net revenue (other) - - Total net revenue (in financial statements) 686 740 N-4 GHG BREAKDOWN INTENSITY 06_CSR_2024_PERFORMANCE METRICS and KPIs_38-49_FINAL.indd 4006_CSR_2024_PERFORMANCE METRICS and KPIs_38-49_FINAL.indd 40 2025-03-31 12:502025-03-31 12:50 ===== SIDA 41 ===== CSR 2024 FENIX OUTDOOR INTERNATIONAL AG 41 2. NATURE, PAGE 08–17 MATERIALS Amount conventional (kg) Amount more sustainable (kg) Amount recycled (kg) Amount CO2e compensated (kg) MARKETING 395,324 637,724 51,564 559,318 Cardboard 2,648 4,010 Glue 2 Glue (glue stick, tape) 2,494 8,856 Ink 9,189 3,732 32,218 Iron 5 Paper 37, 473 629,302 50,544 517,318 Plastic 599 3 Polyester 7 Polyethylen (XPE) 350 PVC 649 32 138 (Stainless) Steel 92 Textile 1,897 12 Wood 887 55 428 Other Materials 2,012 581 1,020 339 Other Metals 19 19 OFFICE SUPPLY 9,003 9,344 1,092 Cardboard 731 493 14 Cleaning Products 463 Glue (glue stick, tape) 350 2 0 Metals 111 8 Paper 4,133 8,777 875 Paper Towels 1,249 Plastic 1,357 19 107 Toner/Ink 49 27 61 Other Materials 560 19 35 PACKAGING 624,214 15,053 622,048 Cardboard 278,171 436,846 Glue (glue stick, tape) 693 Kraft paper 13,381 Paper 34,989 13,468 22,400 Plastic 286,677 5,753 Polycarbonate 8 Polyethylene 11,939 22,229 Polypropylene (e.g. straps, tapes) 7,441 198 30 PVC 46 4 Recycled polyethylene (GRS) 112,678 Uncoated paper 1,756 Wood free paper sticker 43 6,276 Other Materials 4,898 1,384 6 SHOPPING BAGS 9,605 13,151 10,632 Multi use plastics 1,415 Single use plastics 813 Paper 9,442 13,151 8,404 Other Materials 163 Total all consumables 1,038,146 675,272 685,336 559,318 N-6 CONSUMABLES (CONTINUED) N-7 RAW MATERIAL INFLOW Materials Amount conventional (kg) Amount more Sustainable (kg) Amount recycled (kg) Total CO2e (t) PLANT-BASED FIBERS AND MATERIALS Coconut 84 <1 Corozo 360 <1 Cotton 14,721 324,708 2,653 Hemp 23,135 308 Paper 20 <1 Wood 3,418 4 Other plant-based fibers and materials ANIMAL DERIVED Alpaka Bees wax 1,450 1 Down 23,174 37 Leather 79,925 116,000 1,537 Silk 233 21 Wool 2,861 100,695 1,132 3,728 MAN-MADE CELLULOSIC FIBERS Lyocell 92 16,156 184 Modal 8,500 123 Viscose 1,729 26 Other man-made cellulosic fibers 347 6 06_CSR_2024_PERFORMANCE METRICS and KPIs_38-49_FINAL.indd 4106_CSR_2024_PERFORMANCE METRICS and KPIs_38-49_FINAL.indd 41 2025-03-31 12:502025-03-31 12:50 ===== SIDA 42 ===== 42 CSR 2024 FENIX OUTDOOR INTERNATIONAL AG 2. NATURE, PAGE 08–17 Materials Amount conventional (kg) Amount more Sustainable (kg) Amount recycled (kg) Total CO2e (t) SYNTHETICS FIBERS AND MATERIALS ABS plastics 162 1 Acrylic 18,648 272 Elastane 17,703 154 ePE/PU 2,876 11 ePTFE 1 <1 Fiber glass reinforced plastic (FRP) 3,274 63 LDPE 6,276 34 PLA 250 1 Polyamide (Nylon, etc.) 112,323 267,655 3,872 Polyester 278,775 747,658 8,410 Polyethylene 2,921 11 Polypropylene 95,937 366 Polyurethane 16,331 186 Polyvinyl chloride 4 <1 POM 26,482 145 Thermoplastic Elastomere 15 <1 Thermoplastic Polyurethane 9,161 70 Tritan 801 6 Other synthetic fibers METALS AND INORGANIC Alloy 20,146 52 Aluminium 4,656 43 Brass 55,526 51 Stainl. Steel 3,445 13 Steel 18,388 44 FOAMS Polyurethane foam 41,119 220 RUBBER Butyl rubber <1 Other rubber 147,986 1,040 OTHER MATERIALS AND SUBSTANCES Glue 59,847 299 Paraffine 11,687 8 Silica Gel 14,964 23 Silicone 12 <1 Vinylon F 123,141 2,492 Other materials and substances 179 <1 T otal 1,214,401 580,733 1,013,485 26,357 N-7 RAW MATERIAL INFLOW (CONTINUED) 06_CSR_2024_PERFORMANCE METRICS and KPIs_38-49_FINAL.indd 4206_CSR_2024_PERFORMANCE METRICS and KPIs_38-49_FINAL.indd 42 2025-03-31 12:502025-03-31 12:50 ===== SIDA 43 ===== CSR 2024 FENIX OUTDOOR INTERNATIONAL AG 43 Waste composition Waste generated (t) Waste diverted from disposal Waste directed to disposal Percentage of non-recycled waste Biodegradable waste 142 149 0 0.00% Chemicals (hazardous) 0 0 0 0.00% Chemicals (non-hazardous) 0 0 0 0.00% Glass 0 0 0 0.00% Metal 4 4 0 0.00% Mixed commercial waste 124 17 108 87.10% Other 3 0 2 66.67% Other Hazardous (Batteries, WEEE, …) 0 0 0 0.00% Paper and Cardboard 1,652 1,645 7 0.42% Plastic 105 48 57 54.29% Residual waste 78 4 73 93.59% Wood 13 13 0.00% Total waste 2,121 1,880 247 11.65% N-8 WASTE BY COMPOSITION, IN METRIC TONNE Local standards are used for metric conversion. Although data quality is improving, the data seta are most likely not showing the full picture. Amounts smaller 1 t are not shown in the tabel but considered for GHG accounting. Modality Inbound transport 2024 t CO2e 2023 t CO2e Truck 1,371 1,559 Sea (after deduction of SMFB certificates) 46 619 Air (w/o RFI 2.7) 1,132 509 Air (with RFI 2.7) 3,056 1,374 Rail 30 232 KPI 2024 2023 CO2e (t)* 2.24 2 kWh 10,080 9,340 Travel (km) 1,041 1,840 Paper (kg)** 5 11 H2O (m3) 60 21 BREAKDOWN TRANSPORT EMISSIONS FOOTPRINT PER FTE 2. NATURE, PAGE 08–17 06_CSR_2024_PERFORMANCE METRICS and KPIs_38-49_FINAL.indd 4306_CSR_2024_PERFORMANCE METRICS and KPIs_38-49_FINAL.indd 43 2025-03-31 12:502025-03-31 12:50 ===== SIDA 44 ===== 44 CSR 2024 FENIX OUTDOOR INTERNATIONAL AG Case Description Action Closed/ Pending Administrative Offence Violation of German NSG-VO Matter is still pending Pending Car Policy Request for revision of Policy Suspension of car policy until 12/2024 Closed CBAM clarification if CBAM applies CBAM applies to tentpoles and keyrings in FJR Closed Chemicals Chemical Test fail Supplier contacted, correctiv action demanded Closed Chemicals Chemical Test fail Supplier contacted, correctiv action demanded Closed Chemicals Reach Request came in via Compliance > Chemical team Closed Chemicals Question regarding exemptions from RSL/ Chemical Guideline Risk Analysis conducted: Exemptions approved Closed Chemicals var. Chemical test fails Supplier contacted, correctiv action demanded - Prop65 labe- ling in the US initiated Closed CoC violation Request for CoC exemptions Risk Analysis conducted: Exemptions approved Closed CoC violation Unauthorized production for GT Corrective action required: Sale of products stopped; after provision of required documentation, released Closed Conflict of Interest question regarding possible conflict of interest analysed and approved. No CoI detected Closed Discrimination Website accessibility (ADA) three cases of website accesibility - legal settlement (70,000 USD) Closed Discrimination Employee complaint Employee complaint racial discrimination. IL Dept. Of Human Rights assessment. Case found not being justified Pending Discrimination Employee complaint Employee complaint sexual discrimination. NY Dept. Of Human Rights assessment but employee has withdrawn complaint. Closed EPR non-compliance with NL EPR legislation Legal/compliance check - corrective action: external consul- tations Closed Fraud & Theft company theft and fraud in the Nordics Police investigation, dismisal of employees after theft detec- tion Closed GDPR German Federal Police Order Approved by Legal and DPO Closed GDPR various discussions and requests regard- ing data access Legal Dept and DPO assessed each case and decided on a case-by-case basis Closed Gifts & Benefits Invitation to Taiwan not approved because too many beneifts granted Closed Gifts & Benefits Invitation to Norway CoC guard rails: approved, only under conditions Closed Gifts&Benefits Invitation (football match) Compliance Check, Guardrails set: not approved Closed Harrassment Resignation/Conflict at the workplace HR & Trade Unions SE involved; case resolved Closed Harrassment Unappropriate behavior of HR Manager during X-mas party SWE hearing and dismissal - sexual harrasment Closed Harrassment grievance directly to CSR Team: supplier employee in VN investigation of case, involvement of trade union, manager and local legal service; WE program offered Closed HinSchG Complaint about not following HinSchG in Fenix Outdoor Legal check: unjustified claim - responded to complaining party Closed IP Rights Complaint: possible trademark infringe- ment removal of possible trademark infringements from websites and marketing materials Closed IP Rights Counterfeit/ copy of Fenix Outdoor product settlement (products removed from market) Closed IP Rights Trademark infringement settlement removal of trademarked item Closed Labelling Check regarding product labelling: mosquito proof checked and legal check performed: permissable in the US Closed E-1 COMPLIANCE CASES 2024 3. ECONOMY, PAGE 18–23 06_CSR_2024_PERFORMANCE METRICS and KPIs_38-49_FINAL.indd 4406_CSR_2024_PERFORMANCE METRICS and KPIs_38-49_FINAL.indd 44 2025-03-31 12:502025-03-31 12:50 ===== SIDA 45 =====