===== SIDA 1 ===== FENIX OUTDOOR CSR REPORT 2025 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 ===== 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 ..........................56 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. ===== SIDA 3 ===== In Sweden there’s a concept called Allemansrätten – the Right of Public Access. It gives everyone the freedom to roam in nature, and it is the foundation on which our company was built. It shapes our deep respect for the natural world, and it frames how I view our responsibility as a business. Sustainability is not something we do on the side. It is a way of working and a way of being. We often describe our sustainability jour- ney as a special kind of trek. It has no finish line, only checkpoints. Some of them move, new ones appear, and sometimes the terrain becomes steeper than expected. But what matters is the determination to keep moving. Step by step, transparently and with purpose. This year, I am incredibly proud of the rec- ognition our teams have earned along the way. Fjällräven received the German Sustain- ability Award in the Sporting Goods cate- gory for 2026, a benchmark for sustainabil- ity leadership across industries. And our CSR team accepted the ESG Transparency Award on the Petersberg near Bonn, Germany being named a “leading company” for our long- standing commitment to honest, compliant and forward-looking CSR reporting. These awards matter because they acknowledge years of hard work and the mindset behind it. We have always focused on doing the work before speaking about it, sharing progress and gaps with equal openness. I am proud of our teams for staying true to that principle. That principle is also at the core of The Fenix Way. When it was first created in 2012, it became the compass that guides how we operate and what we stand for. Today, the new 2026 edition continues that role. It cap- tures our responsibility to nature, to society, to our partners and to our shareholders, not as separate pillars but as interconnected com- mitments that shape every decision we make. The updated edition reflects new insights, global collaboration and alignment with evolving international frameworks, including the UN Sustainable Development Goals, Science Based Targets initiative and our human rights and environmental expecta- tions. What I value most about The Fenix Way is that it is not a static document. It is alive. It is meant to spark conversation, challenge us and remind us that how we reach our goals matters just as much as reaching them. We also continue to uphold our commit- ment to the UN Global Compact and the UN Climate Action agenda. These frameworks play an important role in shaping our sus- tainability strategy and ensuring that we hold ourselves accountable to internationally rec- ognized standards for responsible business. They help translate our values into concrete expectations and reinforce the integrity of the work we report. One of the places where our values come to life most clearly is where we meet our users. Our Fjällräven Classics and Fjällräven Polar, along with our growing portfolio of local events hosted by local sales markets or retail stores, are not just celebrations of out- door culture – they are a powerful sustain- ability intervention. When we take thousands of people out into nature, sometimes for the first time in such an immersive way, some- thing important happens: appreciation turns into responsibility. People who experience nature up close develop a much deeper sense of what must be protected. That transforma- tion is one of the strongest forms of impact we can create. Our stores, both through Frilufts Retail across Europe and our Fjällräven locations in North America and Europe, play a similar role. In an increasingly digital world, these physical spaces allow us to connect directly with our consumers and support them in using our products more sustainably. Frilufts Retail has expanded secondhand, repair and rental services in recent years, and I am pleased to see the momentum continue. In North America, Fjällräven now offers a nation-wide repair service. In North America, our flagship Fjällräven stores employ repair specialists to provide on-site repairs and alter- ations. On top of that, we are expanding repair facilities at our central warehouses in Europe to accommodate fixes that cannot be done locally. These efforts extend product life cycles, but they also reinforce a mindset: buy better, repair more, use longer. Of course, transparency remains one of the most important commitments we carry. Last year, Fjällräven took a signifi- cant step by launching a more accessible ver- sion of our CSR summary report and follow- ing it with a candid campaign highlighting not just our wins, but also the goals we had not yet reached. Setting goals is easy. Reach- ing them is hard. And when we don’t reach them, being honest about what held us back is essential for credibility. We will continue to operate with that level of openness, even when the message is uncomfortable. It is the only way to maintain trust. Through all this, I am convinced that sus- tainable success and commercial success are not opposing forces – they reinforce each other. A business that takes responsibility, invests in resilience, strengthens transpar- ency and embraces circularity becomes stronger, more relevant and more competi- tive. Our long-term growth depends on our long-term integrity. As we look ahead, we do so with humility and determination. There is still much to be done and many checkpoints ahead of us. But I am proud of the people across our orga- nization who continue to move us forward. Their passion, their expertise and their will- ingness to challenge themselves are what make our progress possible. Our responsibility to nature and society is not optional. It is the foundation of who we are. And together, we will continue this trek. Step by step, guided by our values, commit- ted to doing better and determined to protect the nature, we all depend on. Martin Nordin Chairman of the Board Proud of our wins and focused on the path ahead ===== SIDA 4 ===== 4 CSR 2025 FENIX OUTDOOR INTERNATIONAL AG ===== SIDA 5 ===== CSR 2025 FENIX OUTDOOR INTERNATIONAL AG 5 1.1 PURPOSE OF THE REPORT This report has been prepared in accordance with the Corporate Sustainability 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 develop and market high-quality outdoor gear through a select retail network, with a high level of service and professionalism, to highly discerning and fastidious end-users. Fenix Outdoor Interna - tional AG, Corporate Identity Number CHE-206.390.054, with its registered offices in Zug, Switzerland, is stock-listed in Sweden (Stockholm Stock Exchange – large cap) and originates from Örnsköldsvik, the town where Fjällräven was founded. The chair - man 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, 2025, the company held 19,439 B shares on its own books. Fenix Outdoor International AG had 7,586 shareholders at the end of 2025. The ownership participation of the 10 largest share- holders constituted 85.6% of the total capital. A list of the major share- holders can be found in the annual report 2025. The business model is grouped into three segments: Brands, Global Sales and Frilufts Retail. In March 2025, Fenix Outdoor acquired 65% of the shares in Devold Norway A/S. 1.3 EVENTS AFTER THE REPORTING PERIOD In January 2026, Globetrotter Ausrüstung reorganized and restruc- tured several business units. The focus was cost reduction, leading to the discontinuation of the Nature-Bonus scheme and the creative part of the Frilufts Brand. Subsequently, a junior CSR position was canceled. 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 regulatory bodies. Fenix Outdoor engages in open dialogue with civil society groups and other societal actors on various subjects, particularly 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 2025, around 99% of our business partners repre- senting suppliers on Tier 1 level had signed our Code of Conduct (CoC); 73% on Tier 2 level, with a wide variation between the differ- ent brands. There were no significant changes over 2024. As we have five 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 sustain- ability agenda with distinct sustainability goals and implementation plans. The sustainability plans for 2026-2030 were approved by the Board in November 2025. In 2025, we continued our work on our sustainability strategy. We engaged an external partner to identify gaps, and we refined and restructured the outcome paper from the workshop held the year before. In 2025, we held several individual sessions with brands, retailers, significant operational units and top management. On that basis, responsibilities have been assigned, and implementation deadlines have been set. With that, we have devel- oped and internally published our Sustainability Strategy to coordi- nate 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 Mirroring the Brands' activities we also developed a Frilufts Retail Sustainability Strategy with specific goals and targets for each retail operation. In response to the German Supply Chain Due Diligence Act (LkSG), we have also required our brand suppliers to sign a Code of Conduct as a sign of goodwill and ethical commitment to decent supply chain and human rights management. A total of 757 brands, representing 99% of the purchase value, have signed our Brands Code of Conduct for Frilufts Retail in 2025, allowing us to fulfill our reporting obligations toward the German authorities in 2025. Considering risk exposure, we have started several inquiries on ad hoc matters arising from political changes and threats to fundamental human rights. Materiality Assessment Since 2012, our materiality assessment process has helped identify the most significant ESG issues that influence our business oper- ations and long-term value creation. In 2025, we further refined our Materiality Matrix approach and increased alignment with the legally prescribed process by the EU. The new “Omnibus I” process led to a reduction in reporting burden for many reporting entities. However, it also exempted about 80% of the obligated companies from reporting at all, making a level playing field a bit questionable. 1. In troduction and Overview ===== SIDA 6 ===== 6 CSR 2025 FENIX OUTDOOR INTERNATIONAL AG Nonetheless the postponement of certain requirements allows most companies to refine their Double Materiality Matrix even more, making it potentially more meaningful. Description of methodologies and assumptions applied in process to identify impacts, risks and opportunities and processes As detailed in 2024, in our sustainability approach we started with the basic consideration by employees and management of the ques- tion of what it is that we are doing and what are the possible reper- cussions 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: • W hat effect does our way of doing things have on any of the four cardinal directions? Is it positive, negative, or even both? • W hat kind of (unwanted) side effects may exist? • H ow can we remediate the negative effects of our activities? • A re those effects/repercussions short-, mid, and/or long-term as far as we are (and can be) aware? Based on these basic questions, we refined our risk approach and assessment. Through several stakeholder surveys and roundtables, held between 2012 and 2023, but nowadays mainly through direct engagement with employees, customers/consumers, suppliers, service providers, regulators, science, non-governmental and not- for-profit organizations (civil society), we were able to identify areas of concern and/or interest to our stakeholders. 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 • B usiness relevance based on influence and available remediation tools • Own internal know-how and scientific considerations • Economic impact. With the application of the Global Reporting Initiative Stan- dard 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 ver- sion of the document and for 2020–2025 in the second version. The third update has been published in January 2026 and runs from 2026 through 2030. 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 take into consider- ation the role of Fenix Outdoor’s entities, our reach, the ability 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 directions 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 STRATEGY 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: • R educing carbon emissions and enhancing energy efficiency • P romoting diversity, equity and inclusion (DEI) in the workplace • S trengthening ethical supply chain practices • E nsuring 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°C Paris Agreement goal. In 2025, we continued projects in our own operations and in our supply chain to help foster a more sustain- able, independent and CO2e-reduced energy supply. The year 2025 is characterized by continued political and economic instability, eco- nomic downturn and disruption. The wars in Ukraine and Gaza, tensions in the Middle East, the US import duties and the extraor- dinary budgetary spending of many governments with unknown side- and long-term effects led to a general notion of insecurity, fear and enhanced polarization. In addition, despite the easing regarding EU legal demands, increasing regulations in other parts of the world and restrictions concerning products, chemical treatments, product packaging and disclosure requirements led to increased bureaucracy. Also, our customers have very different and at times non- environmentally sound or “sustainable” demands. All this creates fields of tension where the most viable and economically acceptable solution does not necessarily lead to more sustainable business oper- ations. The current political trend in various legislations is a step back when it comes to creating a fair economic level playing field. Through continuous innovation and collaboration, we aim to contribute positively to the global sustainability agenda while ensur- ing business growth and resilience. We follow our own Fenix Way which often differs from mainstream views. 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 2025. Fenix Outdoor has been a reliable and constant signatory 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 (UNFICCA) and the Swedish Textile Initiative for Climate Action (STICA), and we are cooperating in the North American market with the Outdoor Industry Association's (OIA) Climate Action Corps. We continued our involvement in Cascale and furthered the rollout of the Worldly modules such as applying the Higg FEM and Higg FSLM. As a member of the Fair Labor Association (FLA), we continuously further develop our social compliance governance. We are committed to fair labor conditions, and we support the concept of living wages. Since 2015, Fenix Outdoor has also been a member of the Textile Exchange. Through this network, several Fenix Outdoor brands work together with peers and scientists to support activities and ===== SIDA 7 ===== CSR 2025 FENIX OUTDOOR INTERNATIONAL AG 7 research in recycling, the use of organic material, improved supply chain management, and better choice of materials. As a signatory of 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 as Fenix Outdoor our responsibility is to do things right and to com- municate only what we have evaluated ourselves and can stand behind with our own name. However, in many operations ISO 9001 and ISO 14001 principles are applied in a formal or informal manner. About 15% of our Tier 1 suppliers are certified to an environmental man- agement scheme. One entity of the Fenix Outdoor Group is certified according to ISO 14001, ISO 9001 and ISO 45001. We are also legally obliged to be certified in one entity according to ISO 50001. Several of our suppliers carry certifications or deliver materials which often carry significant and reputable signs of conformity to industry standards, such as GOTS, RCS, Bluesign or others. We appreciate these certifica- tions and labels. However, we only demand certifications of materials and the chain of custody for production purposes to make qualifying 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, and has been updated in 2025. The Board approved the updated Fenix Way and the Code of Conduct in November 2025. Various significant impacts and negative side effects occur in different stages of our services and products’ lives. From raw mate- rial 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. We engage and conduct a wide array of projects, which are managed and orga- nized by each entity individually. However, all activities address the compass 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 supply chain and within our own organization, through addressing the rec- ommendations we have received from our partners at the FLA. The CSO is also taking the responsibility of being the group-wide Human Rights Officer. That position is complemented by the Global Sustain- ability Director for Fenix Outdoor brands, the Human Rights Coordinator working in that team, the Social Compliance Auditing staff covering audits and remediation with suppliers and the Senior Sustainability Manager in Globetrotter Ausrüstung, who oversees the human rights tasks in the retail operations. As climate change is a global challenge, we address the importance of climate mitigation and positive climate action. In 2025, we contin- ued to dive deeper into our Scope 3 emissions of which we are cap- turing and calculating increasingly. The transport-related activities are under constant scrutiny (including looking at the optimization of planning and shipping). All suppliers and value chain partners working with Fenix Outdoor brands must adhere to our Restricted Substances List (RSL, which is also used as the MRSL, or Manufacturing Restricted Substances List). We update our Chemical Guideline (RSL) on a yearly basis, reflecting the latest scientific research and following our own precau- tionary and proactive approach going beyond the current and com- ing legal requirements. The Fenix Outdoor Chemical Guideline pro- motes the phase-out of hazardous substances as materials and acts as a guide to less hazardous alternatives. The Fenix Outdoor RSL also includes additionally a testing matrix supporting the supplier in what substances may pose risks in different types of materials. A focus area of work in 2025 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 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 We continued enhancing the alignment with the CSRD require- ments and followed 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 governance structure and business model, offering an overview of our corporate governance framework, risk management and ethical prac- tices including compliance and anti-corruption practices. Therefore, the CSRD topics ESRS, 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 perfor- mance regarding 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. 1.8 LOOKING BACK With this report we close our 2020-2025 Sustainability Agenda’s cycle. A lot has been achieved despite a very unstable and unpredict- able quinquennium. In the following chapters, we will give an over- view of the 2025 activities and achievements but also shortcomings and the status versus our 2025 goals. ===== SIDA 8 ===== ===== SIDA 9 ===== CSR 2025 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. Thus, at Fenix Outdoor, we feel it is our duty to protect our planet by minimizing our impact on the environment as much as possible, with the goal of working to restore nature, so jointly with our customers and other stakeholders 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 decision- 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, resource efficiency, land use and biodiver- sity. In this section, we provide a detailed overview of the actions we have taken to reduce our environmental impact in 2025, the risks and opportunities we see for the future and how our strategy and tar- gets will continue to guide us forward. Fenix Outdoor and its entities jointly base their actions on the following key aspects: • S ustainable material solutions: Increasing our share of “more sustainable” materials based on our Preferred Fiber List (PFL), inspired by using leading industry benchmarks (e.g., Worldly’s Material Sustainability Index and the Textile Exchange Preferred Fiber Matrix) • T ransparent supply chain: Partnering with Lloyd’s Register Quality Assurance (LRQA) to extend our reach and deepen our knowledge of the full array of supply chain matters with regard to the environment; strengthening the adoption of the Higg Index Facility Environmental Module (FEM) by our suppliers and supporting them with training and a Corrective Action Plan (CAP) process • E nvironmentally responsible production: CO 2 emissions accounting and reduction along our Fenix Outdoor Climate Strategy (see CSR Report 2021, p. 20 and first draft of our Transition Plan); integration of circular production practices (e.g., zero waste development) into standard processes; and circular business models (textile to textile recycling, secondhand, rent and repair services) • S ustainable store and facility management: Adoption of the Green Business Benchmark in our North American stores to measure and enforce sustainable practices; having ISO manage- ment systems in place to manage and use resources efficiently (ISO 50001 at Globetrotter, ISO 14001 and STEP in Devold’s own production in Lithuania); and applying the Re:Think store concept for the Globetrotter stores • C ontinuation of eliminating hazardous chemicals and updating the group-wide Chemicals Guideline considering new regulations • E nabling consumers to identify the best and most sustainable product for their needs by expanding our internal labelling/ scoring models and enforcing supply chain compliance with transparency and traceability demands. We at Fenix Outdoor make our products consciously, leveraging emotional longevity to ensure they last for generations. 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 inclusive concept with a long- term perspective. We believe one should be able to wear a gar - ment for generations. A product’s story should be lifelong, not short-lived or used only once in one’s life. But sometimes trade- offs are tough to solve: some materials might be better for the cli - mate but are not recyclable and do harm to animals and plants when they end up in nature. We have identified all environmen - tal-related reporting standards as material for Fenix Outdoor in either our own operations, our value chain or both. The gov - ernance of our positive and/or negative impact on any stage of our value chain is supported by several tools, internal and exter - nal policies, monitored by the different Sustainability Manag - ers within the Fenix Outdoor Group and the Chief Sustainability Officer, and supported by our Compliance staff in Asia as well as our third-party service partner LRQA. To strengthen our due dil - igence process and supplier engagement in China, we joined the International Institute of Public & Environmental Affairs (IPE) in 2023. Our work complies with international and national envi - ronmental laws and aligns with global frameworks and interna - tional 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 developments with regard to environmental developments (see Chapter Introduction and overview). While working toward a more sustainable business anchored in our Fenix Way, some adverse impacts on nature and environmen- tal resources remain. Through our double materiality assessment, we systematically reassess actual and potential positive and negative impacts, risk and opportunities on the environment from our own operations as well as from the supply chain. Our material impacts, risks and opportunities are assessed during different processes: • D uring integrated production country risk assessments in conjunction with an HREDD assessment, annually updated and on request from brands by CSR team. 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, etc.) • O n material/fiber level, especially with regard to natural fibers based on industry knowledge and company-specific supply chains for our main materials • O n brand level, during strategy development with support of CSR workshops and during the adoption of new markets and, if applicable, in new production countries • U pdated during CDP Reporting, in case any new impacts have been identified during the annual greenhouse gas accounting process or specific circumstances • O n retail level as part of the energy management system. The tools and processes listed above help us to mitigate potential risks. 2. Nature (ESRS E 1 – E5): Our Environmental Mission 2. TABLES, PAGE XX-XX ===== SIDA 10 ===== 10 CSR 2025 FENIX OUTDOOR INTERNATIONAL AG 2.2 CLIMATE CHANGE (E1) 2.2.1 Impacts, Risks 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, informed by our DMA and the identified impacts, risk and opportunities. For our long-term planning we developed 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. The transi- tion plan will be updated over the course of 2026. The biggest levers identified were renewable energy sourcing and electrification of pro- duction processes in the supply chain, transitioning to more sus- tainable raw materials, decarbonizing our logistics operations and expanding our circular business models, among others. 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 four production sites, stores and distribution centres 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 and Devold of Norway gear, store operations (lighting, air conditioning and in some cases heating) and distri- bution centres, followed by gas consumption for heating and warm water generation. A more detailed breakdown is provided in table N-1. Since renewable electricity sourcing is becoming more avail- able and economically feasible under certain limitations, we see the decarbonization of our heating sources as the most challenging of our impacts coming from energy consumption. In general, energy sourcing is decentralized. Most of our locations 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 environ- mentally sustainable practices and energy-efficient measures to reduce the environmental impact of a building. Such leases outline responsibilities for both landlords and tenants in managing energy use, waste and resource consumption. They encourage collaboration to improve building performance, reduce costs and promote sus- tainability. To steer renewable energy procurement, we established a guideline on renewable energy sourcing that outlines targets and definitions. Energy Attribute Certificates are secured centrally for the whole group for those locations where we are not able to choose green tariffs. 2.2.1.2 Risks From the identified impacts, we can derive potential risks (physical and transitional), some of them we already saw materializing in the past: • H uge parts of our supply chain partners are in the global south. This region is in general more vulnerable to climate change effects 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 harvest, thereby threatening our raw material sourcing of cotton or hemp, the destruction of homes and the creation of unsafe circumstances for our supply chain partners. Reduced production capacity can also lead to disruptions in our product supply through delayed deliveries. Independent from production capacity but depending on changes in weather patterns, our warehouses might not be accessible due to floods or heavy storms. Unfortunately, we have already seen some of these risks materialize in the United States. Hurricane Helene, which experts say had higher rainfall due to cli- mate change, caused physical damage to our store and products and ultimately forced the closure of our brand store in Asheville, North Carolina, in 2024. • A study from the ILO shows that large swaths of apparel-producing areas in Asia will be underwater by 2030. This may also require adaptation and mitigation measures by our suppliers in the Ho Chi Minh area of Vietnam. In addition, heat-humidity will likely pose a risk to human health for a large part of our Southeast Asian supply chain, according to the AR6 Synthesis Report. • Th e conversion rate (percentage of store visitors who complete a purchase) plays a central role in our retail performance, and is even increasingly important when external factors such as weather conditions impact store traffic. • A lthough no legal requirements are in place for the time being for our industry, 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 operational costs. • W e see the risk of a regulated market especially for recycled syn - thetics in the textile industry. We are aware of possible restric- tions for PET bottles being recycled into fabrics. In the future, most likely only textile-to-textile recycled synthetics will be accepted as certified more sustainable. Since this is a technology that needs to be upscaled, we see the risk of a slow adaptation and thus existing fabrics will most likely come with a premium for a couple of years. • T o maintain competitiveness in the course toward a low-carbon economy it is important not only that we prepare and adapt but also that our direct and indirect partners of the value chain do the same. Partners without a climate strategy including science- aligned targets and actions 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 oppor- tunity to enter new markets by developing garments for hotter, more humid conditions. This will also help us to stay strong in the market when conditions for outdoor activities change in our main markets of Europe and North America due to climate change. This potentially gives us the chance to also expand our business to 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 and they are updated if necessary. • R enewable energy policy (renewable energy sourcing criteria and targets, including heating and cooling) • C ompany car policy (procurement/leasing of company cars including pollution-related limits) • A ir freight policy (internal process description of how to act if additional air freight is needed) Other policies, which do not target climate change primarily, but which play into our mitigation efforts, are: ===== SIDA 11 ===== CSR 2025 FENIX OUTDOOR INTERNATIONAL AG 11 • F enix Outdoor Chemical Guideline (RSL) • P referred fiber list (PFL) • D ue diligence process for new store locations and interior design guideline for Frilufts Retail entities • F rilufts Retail Brand Supplier Code of Conduct Implementation Policy (supports application of the Code of Conduct, which requires partners to also engage in climate actions in their operations 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 2025 include: • D evold changed all factory lighting to LEDs, resulting in elec - tricity saving of about 117 MWh. • F enix Outdoor Finland Oy worked on energy efficiency in the office space (improved window and door insulation as well as optimized room temperature) and the overall building (LED and charging stations for electric cars). • S ince adopting the framework of Green Lease Agreements, the number of agreements in place rose to 18% (8 Globetrotter stores and 14 Partioaitta stores). • N aturkompaniet’s electricity consumption in Sweden has decreased by 17% since 2019 (only including comparable stores with no change in store area due to relocation or renovation). The reason is mainly due to the installation of LED lighting in 2021 and energy awareness weeks in stores. • D ecarbonization of our energy consumption: we moved five more locations to our renewable electricity contracts both in Norway and Sweden, increasing the percentage of renewable electricity covered by a retail contract to 72%. For the residual electricity amount, we invested again in energy attribute certifi-cates for elec- tricity to continue sourcing 100% renewable electricity globally. The systematic purchase of green electricity is having a significant impact and our scope 2 emissions, which decreased by 82% compared with the baseline year 2019. We adhered to the RE 100 criteria for energy attribute certificates (electricity) wherever pos- sible but use IRECS ex domain for some countries (see table N11). Forecasting for certificate sourcing remains the main challenge to ensure 100% coverage for renewables. • T o get a better understanding of potential future reduction path - ways for Scope 1 we invested resources in Scope 1 biogas certifi- cates that align as much as possible with the EU ETS market. Though market-based accounting for Scope 1 is under discus- sion, it shows the reduction potential such a mechanism would have, especially for rented operations. By applying the require- ments for the mandatory market, the share of renewable gas is at 20% (2024: 54%, mainly biogas certificates and small-volume contracts). We follow the discussion on market-based account- ing for Scope 1 closely. • I n 2025, North American stores implemented a variety of sustainability-related initiatives. Several stores focused on improving their teams’ knowledge about Fjällräven’s sustainability initiatives, ensuring that new employees are trained on sustain- ability and that sustainability is always featured in product train- ing. Many stores also focused on improving waste management. For some, this included educating employees on waste sorting, while for others it meant finding ways to reuse plastic and card- board that would typically be thrown out. For example, our store in Niagara-on-the-Lake in Ontario reused silica packets and fabric from lightboxes to make weight packs, which can be used when customers try on backpacks to give them a better idea of how the item will feel when loaded with gear. • Th e Green Business Benchmark (GBB) tool underwent a major update in March 2025. To give our stores time to adjust to the new platform, we tracked sustainability progress outside the system in 2025 and will continue tracking progress via GBB in 2026. • I n 2024 Globetrotter became a member of the Outdoor Retail Climate Commitment (ORCC), a group of European outdoor retailers who commit to the 1.5° C target and to transparently report on their GHG emissions and actions. The group speaks with one voice toward brands in the outdoor industry to set science- based targets themselves and to start or continue the climate journey. The share of total sales volume covered by a climate commitment increased by 7.6 percentage points, reach- ing 66.58% (2024: 59%). This reflects a continued expansion of climate-related commitments across the value chain and repre- sents meaningful progress compared with prior periods. Ongoing and completed measures in our transport operations in 2025 include: • T o decarbonize our transport operations, Fjällräven invested again in marine biofuel certificates through the book and claim mechanism with our forwarder Flexport. In total, we reduced our emissions from sea freight by 287 metric tons of CO 2e, which marks a reduction of 25% for Fjällräven’s sea shipments. • I n 2025, we initiated electric drayage operations for inbound over- seas containers, transporting them from the Port of Hamburg to our distribution center in Ludwigslust using fully electric trucks (E-trucks) via Contargo and orchestrated by Flexport (check out the QR code below). This transition was implemented with mini- mal additional cost and without compromising operational flexi- bility or service levels. By shifting from conventional diesel trucks to electric drayage, we reduced transport-related emissions from an estimated 31 metric tons of CO 2e to just 2 metric tons of CO2e — a total reduction of 29 metric tons of CO2e. Over the course of the year, 127 containers were transported fully electric between Hamburg and Ludwigslust. This initiative demonstrates that targeted investments in low-emission transport solutions can deliver measurable climate benefits while maintaining operational efficiency and cost discipline. Compared with 2024, our total CO 2e emissions went up from 4,056 metric tons of CO2e (gross) to 5,388. Despite our efforts in various areas to reduce our CO2e emission footprint through transporta- tion such as better planning, consolidation of cargo and the use of low-carbon transportation solutions, the absolute CO 2e emissions increased. There are a couple of main drivers for this increase: • Th e increase in emissions for inbound transportation through container-shipment and airfreight is partially driven by an increase in inbound volume for our brands’ business. • D ue to fast and significant increases in import duty rates for imports into the United States, we imported substantial amounts via airfreight to ensure goods arrived before the higher import duty rates came into force. • S imilar to the rationale behind airfreight, we have also utilized Our Decarbonization Journey in Transportation ===== SIDA 12 ===== 12 CSR 2025 FENIX OUTDOOR INTERNATIONAL AG “express” ocean freight services from Asia to the US, which resulted in higher emissions intensity per nautical mile and ton- kilometer from Asia to the US. • A ll container lines have navigated around the Cape of Good Hope for their journeys from East Asia to Europe, significantly increas- ing the distance compared with sailing through the Suez Canal. This was already the case for 2024 but not in the years before. • F or palletized and parcel distribution, which are less global in our case and less exposed to geopolitical events or changes, we have seen a reduction compared with 2024. Ongoing and completed measures in our production countries in 2025 include: • T o strengthen environmental due diligence, we developed a complementing audit checklist for our initial social compliance audits focusing on high risk environmental aspects and strategic areas from our sustainability strategy. • S ince 2025 was the third warmest on record according to the World Meteorological Organization, we wanted to understand the impact of heat days on our supply chain partner factories: 12% of the factories taking part in our Sustainability Supply Chain Survey measure heat days systematically (e.g., in accor- dance with the Wet Bulb Globe Temperature method). So far, the impact has not resulted in less productivity, quality issues or worker discomfort on a large scale. Mitigation measures (pre- ventive or reactive) are in place as well, for example air ventila- tion, air-conditioning, adjusted work schedules and additional beverages. We will continue to monitor the situation over the coming years. • W e continued our collaborative project work with the EOG Carbon Reduction Project by participating the Carbon Target Monitoring Program (CTM) and started a joint Energy and Water audit with one of our biggest Tier 2 suppliers in South Korea with other STICA members. • W e conducted a renewable electricity sourcing training with our Vietnamese suppliers in late 2025. We can already see effects and an increased uptake of renewable electricity. The main mar- ket instrument used is on-site solar panels as well as IREC sourc- ing. As far as we are aware, the share of Tier 1 suppliers sourcing renewable electricity increased compared with last year, covering 34% (2024: 19%) of our share of electricity reported through our Sustainability Supply Chain Survey. • B y end of 2025, additional 8 (until 2024: 20) of our Tier 1 suppliers conducted renewable energy feasibility studies according to their declaration in our Sustainability Supply Chain Survey; at least 3 of them installed the panels in 2025 and 4 facilities plan to do so within the next two years. The triad of our climate strategy is to avoid, reduce and compen- sate for unavoidable emissions. Because we are not yet able to elim- inate our energy, transport and product-related emissions, we have decided to compensate for them through investments in carbon reduction and removal projects outside our value chain. The proj- ects we have invested in can be identified below. 2 The total amount we compensated for was 18,990 t CO2e (2024: 20,780 t CO2e), which equals our own directly controlled emissions (Scope 1 and 2) and selected Scope 3 emissions: consumables, transport of shipments (up- and downstream), business travel, commutes and homework- ing emissions, waste and water, some product-related emissions and internal as well as external events (Classics, Globetrotter Freiluft, Kick Offs). Again, we considered a couple of main suppliers. In addi- tion, marketing materials such as catalogs and flyers were partially offset as part of the purchase agreement, which amounted to an offset of about 521 t CO 2e (2023: 560 t). Leather for Hanwag was compen- sated too: 41 t CO2e were compensated. Due to the opaque carbon credit landscape and difficult overall economic situation, we decided to shift our sourcing strategy slightly. Instead of a ton-to-ton compensation, we strive for a steady increase in the amount of carbon removals (Oxford category 4 & 5 projects) from carbon credits in our portfolio. In 2025 we increased to 16% (2024: 3%) and entered into a two-year agreement with our supplier. See table N2 for details. In 2025 our climate work was rewarded with a B Grade for the third year by CDP . In addition, in 2024 we were rewarded as Supplier Engage- ment Leader, too (2025 grading not published by the time of writing). 2.2.4 Targets Our overall gross carbon dioxide equivalents amounted to 122,455 t CO2e (including Devold for some categories where available, see details in Table N3; 2024: 92,110 tCO2e). Our actions have a positive impact on our targets set in in our Climate Strategy 2019-2025 (base year 2019) and in the Fenix Way, cardinal direction “Nature”: (* inkl. Devold; all other KPIs exclud- ing Devold) Data collection was conducted in-house with the support of an IT- based tool. We strive to have more accurate and consistent data each year. We implemented an automated variance check to minimize manual data validation and to increase data consistency. Data com- pleteness is still hard to estimate but improves year over year. There is still some ambiguity, and some developments can only be explained by possible misstatements in the past. Whenever we have new infor- mation (e.g., through ancillary cost invoices), emission factors are updated, or when misstatements are obvious, we correct our figures in the upcoming report for the past years. 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 emissions in some categories 2 https://app.ceezer.earth/share/portfolio/kcsndsti6 Target KPI Status Conclusion for 2030 strategy Reduce Scope 1 and 2 by 40% Reduction in % –71%, Reached Focus needs to be on heating processes. Reduce our emis- sions per product produced by 50% (considering purchased goods and services and Upstream transportation) Reduction in % per product produced +3% Not achieved Although target has not been met, we reduced absolute emis- sions from these categories by 22%. Focus on renewable energy sourcing on production, less impactful natural fibers and decarbonization of transportation. 100% renewable sourcing for purchased electricity Renewable MWh /Total MWh 100%, Achieved Continue to expand contrac- tual RE sourcing. Optimize opera- tions, facilities, offices and stores in line with ener- gy consumption reduction targets – efficiency im- provement 25% versus baseline year 2019.* Overall energy consumption (in kWh) Use of energy/ capita and per turnover Overall: –2% decrease (inkl. Devold) Per capita: –16% Per net revenue (MEUR): –6% Failed Gain energy effi- ciency measures through systema- tic group-wide approach; know- ledge sharing from certified entities. ===== SIDA 13 ===== CSR 2025 FENIX OUTDOOR INTERNATIONAL AG 13 (e.g., raw materials, working from home, events) and understate them in others (e.g., business travel, energy consumption). Our data and methodology undergo spot analysis from the Swedish Tex- tile Initiative for Climate Action (STICA) and underwent a CSRD- readiness check in 2024 (focus on GHG data). More methodologi- cal details are published in Chapter 7 of this report as well as on the Fenix Outdoor website as an appendix to this report. 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 consumption 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 impacts and to stay up to date with latest developments: • T o measure pollutants from transportation we use industry-spe - cific tools, e.g., EcoTransit and data provided by forwarders for other emissions than CO 2e (NOx, SOx, NMHC, PM10). • T o 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. • T o understand and manage the amount of microfiber released from our products during consumer use, we are a member of The Microfibre Consortium and conduct shedding tests accord- ing to their standard. In addition, we do not intentionally add releasable microplastics to our products. We established a man- datory microfiber test for newly developed fleece fabrics and we submit our test results to the Microfibre Consortium database. • Th roughout 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. 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 a chance to gain from opportunities. We believe the biggest opportunity lies in applying the precautionary principle, avoiding pollution wherever possible to the greatest extent and being 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 and precautionary environ- mental strategies. Our approach includes: Air Pollution Mitigation: • R estricting the use of volatile organic compounds (VOCs), chlorinated solvents and other hazardous air pollutants (HAPs) in production processes. • R equiring compliance with the EU Industrial Emissions Directive (IED) and VOC Directive 1999/13/EC. • E ncouraging the adoption of water-based and less harmful alternatives in dyeing, printing and finishing processes. Water Pollution Mitigation: • E nsuring compliance with regulations such as REACH and the Stockholm Convention on Persistent Organic Pollutants (POPs). • P rohibiting the use of hazardous substances such as Per- and Polyfluoroalkyl Substances (PFAS), heavy metals and azo dyes that degrade into carcinogenic arylamines. • M andating suppliers to conduct routine water quality testing and report compliance with wastewater treatment standards. Soil Pollution Mitigation: • B anning persistent and bioaccumulative chemicals, including certain pesticides, biocides and heavy metals, to prevent contam- ination of soil. • E nforcing stringent chemical restrictions to ensure that sub - stances classified as persistent, mobile and toxic (PMT) or very persistent and very bioaccumulative (vPvB) are not used in our supply chain. • A dopting 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://fenixoutdoor.com/wp-content/uploads/2026/02/ Chemical-Guideline_EN_FIN-Rev-8.1-2025-10.pdf 2.3.3 Actions During 2025, the Fenix Outdoor sustainability team hosted our annual supplier webinar to coincide with the launch of the updated 2025 version of the Fenix Outdoor Chemicals Guideline, (M)RSL. The purpose of the webinar was to share background information on newly added substances and support our suppliers in effective chem- ical management. Throughout the year, we also communicated on chemical topics including substances of concern, emerging regula- tions and other relevant issues through the Fenix Outdoor sustain- ability newsletters for suppliers. These communication channels have enhanced transparency and ensured that both our business partners and our organization can proactively work toward safer and more sustainable products. The group of substances that drew particular attention in 2025 was Bisphenol S, which had been added to the California Proposi- tion 65 list in 2023 and had already been on our radar in previous years. Brands requested that suppliers provide chemical test reports to confirm adherence to our standards. In addition, more than 300 chemical tests were conducted on various materials to verify compli- ance. No findings with significant implications were identified, and any minor issues detected were addressed directly by the material teams at each brand with the relevant business partners. The CSR team also conducted several internal training courses on chemical-related topics, including newly implemented or updated test standards and potential future challenges. The Fenix Outdoor Chemical Working Group, composed of representatives from all brands, held quarterly meetings to facilitate internal knowledge shar- ing and strengthen collaboration across the organization in chemical management. ===== SIDA 14 ===== 14 CSR 2025 FENIX OUTDOOR INTERNATIONAL AG Furthermore, we deepened our collaboration with The Microfibre Consortium (TMC) and expanded our membership to cover all brands. Frilufts (private label) participated in a research sprint in autumn, studying the effects of water-repellent treatments on fiber fragmentation. This project provided valuable insights for both Fenix Outdoor and TMC on the effects of water repellent on the shedding rate. In this case the shedding rate was reduced. We have also consolidated and streamlined the testing process across all textile brands under the Fenix Outdoor umbrella, includ- ing microfiber shedding tests based on the standard developed by TMC. Microfiber shedding is a significant issue, and the choice of materials strongly influences the environmental impact of our prod- ucts. We are pleased to report that the average test results for Fenix materials remain below TMC’s average fiber-shedding results. Nota- bly, last year brands only tested high-risk materials such as brushed piles and fleeces yet still achieved lower-than-average results, dem- onstrating high awareness among our teams and suppliers. Target KPI Status Conclusion for 2030 strategy Significantly reduce the use of water includ- ing for chemical production of garment and finishing of fibers Total water used Due to missing resources to track water consumption in dyeing processes properly, failed Establish a better process for data collection and data availability to measure water consumption in fabric production 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 dyeing methods as well as fin- ishing 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 tanneries 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. Since more and more water-effi- cient or even waterless dyeing technologies arise, the risk could be 0.189 Full Database Average: 0.632 Average Filter Change (g/kg) Average Chart from Report Generated On: 20/11/2025 Report Generated For: Fenix Outdoor Target KPI Status Conclusion for 2030 strategy Reduce the amount of toxic substances during the production processes to the outmost possible extent by 2025 No. of risk chemicals used We have significantly reduced the number of risks and toxic chemicals and have the strictest require- ments in the industry. However, legislation shifts make it a moving target, and formulating a quantitative KPI may not be a helpful measurement. Constant moni- toring of legal and scientific developments 2.3.4 Targets 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 N5. mitigated in the future. Due to water stress, we see the risk of restricted/ regulated access to fresh water due to competitive water usage in the two regions. This can influence production and lead times. Interruptions in our supply chain can lead to more expensive transport modalities (e.g., air shipments) or penalties in case we cannot deliver end products in time. Lost revenue from products that did 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 104,882 m 3 (2024: 103,652 m3). The data coverage is comparable between 2024 and 2025, with most sites reporting usage data for both years. Overall, water consumption stayed about the same. Significant decreases due to store closures and the removal of large water features in some retail locations were mitigated by the addition of data from Devold sites. The main pur- pose of water in our own operations is for drinking, cooking and house- hold use, although some operations have a vast green space they take care of, and some of our mega stores carry pools and diving tubes for equip- ment testing. The water we withdraw is drawn mainly from the commu- nity supply (groundwater and surface water in, for example, northern Finland, South Korea, China and the Czech Republic). Since the datasets for our operations were still fragmented in 2025, we added a 10% security surcharge. Although we are only able to quantify our water footprint in the supply chain on an incomplete level, we monitor water management 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 (South Korea and Hong Kong), the effluents were collected in community sewers and treated at a public treatment plant. No toxic chemicals were released by our own opera- tions into sewers or surface water bodies. The water discharge amount was not safely determined. We estimate that about 102,427 m 3 (2024: 101,138 m3) were released by our operations (toilets, washing, kitchens). In our own operations, we do not discharge any wastewater that requires Chemical Oxygen Demand (COD) monitoring, nor do we handle or use halogenated absorbing organic compounds requiring AOX demand monitoring. Our wastewater is normal 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 2025 include: • A not systematic but encouraged reuse of water and rainwater capture. • Th e search for new technologies with lower water impacts, e.g., in dyeing or tanning processes. • I n a couple of North American stores water audits and data collection exercises have been conducted to outline options for water savings. 2.4.4 Targets ===== SIDA 15 ===== CSR 2025 FENIX OUTDOOR INTERNATIONAL AG 15 also increase our resilience against water stress and 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: • F enix Outdoor Animal Welfare Policy (outlining our expecta - tions toward farm-level suppliers with regard to farming prac- tices and animal treatment). • P referred 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). • F or Globetrotter and Naturkompaniet, funding guidelines related to Nature Bonus are established which define funding objectives, requirements and processes. 2.5.3 Actions Ongoing and completed mitigation measures in 2025 include: • F jällräven increased the share of Preferred fibers for textile fibers to 81% for 2025, from 77% previous year (2024). • F rilufts (private label) underwent the surveillance audit according to the Responsible Down Standard (RDS). • R oyal Robbins brand underwent the surveillance audit according to the responsible wool standard (RWS) and Global Recycling Standard (GRS). • R oyal Robbins met its goal of 80% recycled polyester by 2025, sourcing 86% (2024: 83%) recycled polyester in 2025. • R oyal Robbins exceeded its goal of 50% certified, traceable wool, RWS certified wool accounted for 100% of wool used. • F jällräven participated in the publicly available Textile Exchange’s Corporate Fiber & Materials Benchmark. • N ature Bonus continued in 2025 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 climate, environmental and nature conservation projects. The goal is to support projects that protect, preserve, and restore local nature. In 2025 we gave about €820,000 to different organizations. • E xternal partnership with The Conservation Alliance (TCA), a grant making organization through which we support the protec- tion of lands and waters in North America, including a 2025 pri- ority campaign focused on Boundary Waters, Minnesota. Since its inception 35 years ago, TCA has provided over $34.5 million in grants to support protection of North America’s wild places. • C ontinue to support the Swedish Arctic Fox Project work by the University of Stockholm. 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- costumer 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- 2.5 BIODIVERSITY AND ECOSYSTEMS (E4) 2.5.1 Impacts, risks and opportunities We continued mapping our biodiversity risks with the WWF biodi- versity risk filter regarding our own operations and production sites and will continue to work on our biodiversity strategy. Our business model mainly depends on the input of raw materials (natural and synthetic fibers), freshwater for fabric manufacturing and energy for all production stages. Main impacts on biodiversity are pollution and freshwater usage/wastewater discharge, land use for natural fibers, as well as the impact of our hiking events. At the same time, our busi- ness purpose as an outdoor company depends heavily on the intact- ness 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 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 coming from agricultural sources that increase land use change or through carrying invasive species with freight or outside the carrier (e.g., the outside of con- tainer ships). With regard to biofuel, we adhere to the EU RED crite- ria, which should ensure that biofuels are only generated from agri- cultural and food waste. We started to develop a policy on alternative fuel sourcing to ensure compliance with these requirements also for biofuels produced and used outside the EU. We aim for stakeholder consultation and implementation in early 2026. Since our forward- ers operate in an international environment, we expect them to com- ply with national and legal 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 biodiversity and deforestation derives from our raw material purchases. Our fiber sourcing aims for the most sustainable fibers, meaning we source recycled, organic or regenerative fibers only. By this, we minimize the risk for land use change, freshwater ecosystem use and change, water use, soil and water pollution, which could impact local biodi- versity and threaten livelihoods of endangered species. The main animal-based materials are leather, wool and down, whereas cotton accounts for most plant-based fibers, followed by man- made cellulosic fibers. Metals and other inorganics make up most of our trim materials. As in past years, we deliberately use recycled, organic and recyclable materials to decrease our impact on land-use change and pesticide usage. The main guidance for animal derived fibers is our publicly available Animal Welfare Policy. Hanwag sources leather from well-known and traceable sources, and the hides come from inside Europe or known farms. The impact on deforestation is assessed as low risk. All brands have brand-specific material targets that are aligned with our PFL. Additional analysis needs to be con- ducted further down the supply chain for other tiers, especially fiber origin at the farm level. The risks and possible current mitigation mea- sures in place also need to be evaluated more closely and accounted for in the envisioned biodiversity strategy. Based on our initial work, we have prioritized key raw materials such as wool, and material produc- tion processes in our supply chain, such as dyeing and finishing, that will be the focus of deeper analysis and goal setting. We encourage our entities to source certified recycled or more sus- tainable 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 support biodiversity restoration by sourcing regenerative fibers, which will ===== SIDA 16 ===== 16 CSR 2025 FENIX OUTDOOR INTERNATIONAL AG tion from economic growth. However, circular business models can also come with tradeoffs 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 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 beyond compliance and closed loop waste management. Most of the waste in our own operations is generated by inbound shipments and comes to our warehouses and stores. In those loca- tions, we work with local waste removal companies to recover and dispose of the waste. 2.6.1.2 Risks After taking first steps toward a more circular economy, we identified a couple of risks that could affect successful and fast adaptation and upscaling: • I ncreased demand for recycled and renewable fibers can lead to shortages in availability or higher prices. • T raceability efforts need to increase to ensure recycled and renewable materials comply with legal and company require- ments, which will increase testing and internal costs. • I ncreased penalties in case of regulatory breach. • U nfavorable tax schemes. • R eputational 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 circular economy: • S trong market position as early adopter of fiber innovations and one-stop shop for innovative products. • O pen up to new customer base and increase revenue from circular business models. • S trengthen customer interaction and drive traffic to our stores and website with positive side effects to the regular assortment • R educe virgin material use, such as by refurbishing and reusing the old store interior. • C lose the loop within our own value chain and have full control over resource inflow. • D ecrease packaging volumes and global transportation flows through more localized operations. • U se circular economy principles (recyclability, durability, repair - ability) as design guidance for our product development. 2.6.2 Policies Our policies that target resource use and circular economy are: • I nterior Design Guideline for Frilufts Retail Stores • P referred Fiber List. 2.6.3 Actions Based on the current insights, we manage potential negative impacts and risks coming from our fibers. We have classified the main tex- tile fibers we use into our own PFL, divided into four categories: excellent fibers to use, good fibers to use, ok fibers to use and fibers we should not use. To be defined as preferred, the fibers need to be in the classes of excellent or good. A Preferred Fiber for Fenix Out- door is a fiber with an accountable improved environmental foot- print compared to the conventional version of the same fiber. It is a fiber from a renewable, organic or recycled raw material, responsibly managed and produced. According to 2025 fibre consumption for the Fenix Outdoor tex- tile brands (Fjällräven, Frilufts - private label, Royal Robbins, Tierra) we are at a level of 79% (considering Devold the level is 74%) of pre- ferred textile fibres from the fibre types we have classified (2024: 77%). The main driver behind the modest increase is the composi- tion of the assortment produced and the slower than expected adop- tion of recycled materials. The share of recycled materials is at 26% (2024: 30%) of all pro- duction materials (fibers, metals, plastics, …). Our inflow materials from product production and consumption of consumables, including office supplies and the like, are shown in Table N6 and N7. Ongoing and completed mitigation measures on resource use and circular economy in 2025 include: • A t Naturkompaniet, we switched from cardboard e-com boxes to paper bags and phased out plastics completely from those shipments. • T o drive compliance and become future-ready for upcoming legislation, we continued 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 an agreement with the system provider for 2025 until 2027. In 2025, 71 styles were under investigation. • I n the United States, 2.72 tons of soft plastics, mostly polybags and shrink wrap from our stores and warehouse, were diverted from the landfill to responsible recycling through EcoCycle. EcoCycle is a local recycler in Boulder County, Colorado, USA, specializing in hard-to-recycle items. They work with Trex to recycle soft plastics into composite decking. Target KPI Status Conclusion for 2030 strategy To support conservation pro- jects and develop a biodiversity impact assessment process No KPI at this stage Several conser- vation projects supported via Nature Bonus Scheme at Frilufts Retail as well as brand- specific partnerships. Reached Finalize assess- ments and come up with action points and impact-driven projects; finalize biodiversity stra- tegy and esta- blish respective policies Ensure that ani- mals used for products (leather, wool, down, etc.) are not maltreated and ensure this through control and management mechanisms; traceability for leather, wool, down 1. Policies and processes in place 2. No. of cases of animal maltreatment reported through auditing or whistle blowing: zero 1. Policy is in place 2. 1 case reported in 2025, and mitigation initiated. Partly reached - 2.5.4 Targets Targets of 2025 in our cardinal direction “Nature” (Fenix Way, page 42): ===== SIDA 17 ===== CSR 2025 FENIX OUTDOOR INTERNATIONAL AG 17 • W e relaunched the polybag-free project on a global level to gain more insights on the end-to-end perspective from all Fenix enti- ties. We encountered multiple operational challenges (very dif- ferent customer demand and penalty structures, warehouse handling and storage, unforeseeable costs for process adapta- tion), which forced us to end the project. However, the knowl- edge about potential opportunities is now spread throughout the organization, and we also continue to have established prod- ucts being shipped successfully and without negative impact on our operations or sales without individual polybags. We found that Frilufts (private label) already shipped about 433,527 items (socks and hard goods; 2024: 311,305 items) without individual polybags to our warehouse in Ludwigslust. Royal Robbins con- tinued to ship selected styles sold in Europe without individual polybags. In 2025 the program covered five styles representing the shipping of 17,146 items roll-packed. • B y the end of 2025, 85% of our Vietnamese Tier 1 suppliers received internal waste management training from our Social Compliance Auditor (since 2022, 23 in total). • W e engaged with the “To the Finish Line” team (TFL) in Vietnam to share key FEM issues and provide updates on recent changes; our internal effectiveness assessment of the TFL program showed that the benefits from the program are not significant after the third year. Thus, we engage especially with suppliers in TFL that start to adopt FEM as well as with advanced suppliers on specific impact programs (e.g., Waste No More). • W e are part of a quarterly peer group meeting in Vietnam, where we get expert input on strategic topics such as renewable electricity sourcing and resource use. • Th e use of more efficient production processes such as fully fashioned sweaters that are knitted directly to shape in order to reduce material waste. 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 in our flagship North American brand stores. In other regions we partner with external repair special- ists. Since 2021 Globetrotter started buying and selling used equip- ment in all stores, and since 2022 another important milestone has been reached: Globetrotter customers can buy and sell used outdoor equipment online at secondhand.globetrotter.de. In 2025 we were able to develop and grow our offering of secondhand in our stores and online, scale and 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 and waste generation in 2025 include: • A round 16,233 pairs of Hanwag shoes were resoled in 2025 (2024: 19,089) in our factory in Vierkirchen, Germany, and our partner factory in Croatia. • A t Frilufts Retail the total number of products cared or repaired was 48,474. That is an increase of 12.62% compared with the previous year. • A nother record year related to secondhand: In total 51,087 secondhand products were sold. After a strong increase of 94% in the year before, this is still a double-digit increase of 11.11% and indication of secondhand as a growth market. • F rilufts conducted a workshop with Globetrotter’s Life Cycle Manager to identify potential for workmanship improvements on Frilufts gear; in addition, Frilufts will offer spare parts for SS26 products, and 100% of the new FRILUFTS Mat Collection offers a repair kit. • I n 2025, Fjällräven further operationalized its Pre-Loved program in the United States. Pre-Loved is a branded resale site that allows customers to buy and sell used Fjällräven products online. The goal of the site is to extend the life of Fjällräven products, thereby reducing their impact. In April 2025, Pre-Loved operations were integrated into our warehouse operations at our distribution cen- ter in Aurora, Colorado. Intake of secondhand goods is run through our Repair Center, and Pre-Loved orders are now pro- cessed the same as orders from our mainline e-com site, increas- ing the efficiency of inventory processing and shipments. In 2025, 8,842 items (2024: 925) were sold through the Pre-Loved site. At Frilufts Retail our final product and end-of-life solution is Interzero. In 2025 the total take-back volume was 4.717 metric tons and entered the Interzero recycling stream. This volume was at a comparable level to the previous year. Interzero follows the waste hierarchy approach. The aim is to uphold a high level of reuse and increase textile-to-textile recycling. Target KPI Status Conclusion for 2030 strategy Develop and implement a recycling strategy; pilot pro- jects for “cradle to-cradle”; search for alternative or recycled materials No. of projects running No designated projects have been launched; however, textile- to-textile recy- cling will play an important role in our new strategy. Partially achieved Understand the current market developments and come up with an action plan for imple- mentation by 2030. Improve the eco-profile of Materials used: 90% shall be labeled as “preferred” (e.g., organic, ecological, biodegradable, nontoxic) % of preferred fibers according to PFL 79% Not achieved Include KPIs and sub-targets for regenerative and textile-to- textile recycled fibers. Develop an own eco-label to certify for products, sold in the Fenix retail stores Label applied A Greener Choice is adop- ted in all five retail entities Achieved Understand how AGC crite- ria can still be used to manage risks and steer sourcing deci- sions. Monitor, analyze and reduce the discharge of waste with particular attention to hazardous waste; packaging reduction project: reduction of 90% in single-use materials versus baseline year 2020 All remaining waste categories: minimum 90% in recycling systems (where possible) packaging reduc- tion of 50% Volumes per waste category. Develop waste reduction program Polybag project was not successfully implemented; still learnings adopted. Partially achieved See Table N8 2.6.4 Targets Targets of 2025 in our cardinal direction “Nature” (Fenix Way, page 42): ===== SIDA 18 ===== 18 CSR 2025 FENIX OUTDOOR INTERNATIONAL AG ===== SIDA 19 ===== CSR 2025 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 economic 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 the 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 Board of Directors responsible for oversight of sustainability policies and risk management. • A n 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 process at Fenix Outdoor and is executed by the Chairman of the Board and CEO of the company. Twice a year, during our internal seasonal brands kickoff meetings, the CSO and his team update all participating employees on the progress made toward our sustainability goals. In 2025 this was done both in person and digitally. The hybrid version of the kickoff 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. Since 2025, the CSO regularly attends and updates the Board during their regu- lar meetings; he also participated in the annual GM. The CSO/CCO is entrusted with the implementation and communication of the sustainability and compliance strategy and goals within Fenix Outdoor. He is also head of the central CSR Department and the decentralized CSR team in the Frilufts Retail Europe organization. Apart from annual briefings on the internal kickoffs, we also use other means of corporate communication such as general emails, an 3. TABLES, PAGE XX-XX ORGANIZATIONAL STRUCTURE FRILUFTS RETAIL EUROPE AB FRILUFTSLANDNATURKOMPANIET GLOBETROTTER PARTIOAITTA TREKITT *65%, aquired March 4, 2025 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 VICE PRESIDENT Per Wååg, Operations CFO Thomas Lindberg, Finance BOARD REPRESENTATIVE Susanne Nardin, Parent Company EXECUTIVE CHAIRMAN AND CEO Martin Nordin FINANCE HR FRILUFTSCORPORATE SERVICES (COMMON) GLOBAL SALES LEGAL BRANDS TREKITTITLOGISTICS AND SUPPLY CHAIN CSR DEVOLD* ===== SIDA 20 ===== 20 CSR 2025 FENIX OUTDOOR INTERNATIONAL AG internal Sustainability site as an information resource, and in-person as well as online training. Once a year we dedicate a whole month to Sustainability in our internal communication channels. The CSR reporting software, 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 further devel- oped in 2025. We 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 dealings. Furthermore, 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 compliance with all applicable laws and regulations. Our CoC 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 CoC is embedded in “The Fenix Way”; a more specific CoC for suppliers has been updated and is published on our website avail- able in various languages. All employees receive mandatory train- ing on ethical business practices, and we have established a whistle- blower mechanism to report any violations. In 2025, 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. Following the Compliance Guidelines, the Chief Compliance Officer (CCO) submitted his annual report to the board in April 2025. As part of the compliance system, all managers are obliged to sign and declare on an annual basis that they are following the com- pliance rules and that their staff members are aware of the system. For 2025, a total of 29 declarations were received (38 in 2024). Compliance in Fenix Outdoor is not only a result of the ethical STRUCTURE OF THE CSR TEAM CSO Global Sustainability Director Regional Sustainability Manager Senior Sustainability Manager Retail Sustainability Officer Sustainability Analytics Specialist Senior Social Auditor Human Rights Coordinator Sustainability Manager Materials Sustainable Materials & Chemical Specialist Senior Sustainability Environmental Manager Social Auditor Social Auditor ===== SIDA 21 ===== CSR 2025 FENIX OUTDOOR INTERNATIONAL AG 21 principles mapped out in the Fenix Way and other internal docu- ments; it reflects also the owners’ will to systematize the handling of ethical and legal matters. In 2025, the number of cases directly reported to the CSO increased over 2024. In particular, the Whistle- blowing Hotline was used more frequently. The number of reports received was 24 via the Hotline, 15 in writing to the HR Department and about 37 chemical tests failing in 2025. Relevant complaints mainly focused on HR administration matters and one harassment case was reported. Nonetheless, in 2025 we did not receive any com- plaints 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 the like. Also, no fines due to environmental, ethical or social misconduct were imposed on us in 2025. However, some allegations and complaints were received in the United States and through direct contact 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: • R egular audits and compliance reviews in the upstream value chain and our own operations • C lear policies for risk assessment and mitigation as part of the compliance system • C ybersecurity and data protection measures to safeguard stakeholder 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 monitoring through the different departments and work across sectors 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) 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: • S trict guidelines on gifts, donations and conflicts of interest • A whistleblower protection program ensuring anonymity and protection from retaliation • R egular 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 offers of entertainment, invitations, gifts and benefits need approval from the Compliance Officer. 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. 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 eligible to EU Taxonomy: • Operation of charging infrastructure for electric vehicles • Secondhand offerings • Care and repair services • Rental services. We did not invest in additional charging stations in 2025. The maintenance costs remained. Our turnover with rental services amounted to €115,180 (2024: €106,538), Care and Repair €1,360,629 (2024: €1,440,180) and Secondhand offerings €2,397,605 (2024: €2,124,205). In the United States we achieved a turnover in secondhand of €328,935 (2024: €37,800), with an OPEX of €55,110 (2024: €2,670) in 2025. Our Care and Repair activities in North America did not yet offer paid services in 2025, with most care and repair items coming from warranty cases. We took in about 6,068 pieces for repair (2024: 14,000) 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 € 2.1 million in 2025 (€1.7 million in 2024). 3.7.2 Aligned Activities No activities were Taxonomy aligned. 3.8 DONATIONS AND SPONSORSHIP In 2025, we gave back to society in form of donations and sponsor- ships of about €1,305,050 (2024: €1,171,000). Handed-out goods were valued at about €14,476. 3.9 A GREENER CHOICE A Greener Choice continued in 2025 to be our standard to evalu- ate the sustainability performance of products and to communi- cate qualifying products to customers. We sold 1,905,402 “ A Greener Choice” products (2024: 1,725,262; 2023: 1,938,176). Total net sales with A Greener Choice amounted to €137,855,304 and therefore A Greener Choice continued to represent a substantial part of total net sales. We engage in the initiative Sustainability Data Exchange Project (SDEX) to support efficiency in the data exchange between brands and retailers, and in 2025 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 communication. However, with a heavy heart we decided to discon- tinue “ A Greener Choice” as a consumer-facing tool, making the Spring-Summer 2026 season the last one showing this guidance in stores and online. ===== SIDA 22 ===== 22 CSR 2025 FENIX OUTDOOR INTERNATIONAL AG 3.10.1 Fjällräven: Designing for Generations – Kajka X-Lätt At Fjällräven, designing products with longevity at their core is fundamental to our product development philosophy. Every material choice and construction detail is guided by durability, function- ality and the ambition to extend product life for as long as possible. Kajka X-Lätt embodies this approach. Built for long- term use, and designed to be passed down through generations, the back- pack combines robust materials with thoughtful engineering. The main compartment is con- structed from our excep- tionally hard-wearing Vinylon F fabric. The back panel, hip belt and side pockets are made from recycled poly- amide. The frame is crafted from birch- wood, offering a renewable alternative to conventional aluminum frames while maintaining strength and stability. Longevity is reinforced through mod- ular design: all key components are replaceable and repairable, enabling maintenance rather than replace- ment. The adjustable back length ensures adaptability across different body types, allowing the backpack to serve multiple users overtime, extending both its functio- nal life and its value. Kajka X-Lätt is a clear example of how durability, repairability, material respon- sibility and timeless design come together to support our long-term sustainability commitments. 3.10.5 Frilufts: Frilufts Elphin The Frilufts Elphin sleeping mat has been one of the best-selling hardware products in Globetrotter assortment. The mat is labeled according to A Greener Choice because of the following criteria: circularity, improved ecological footprint, responsible chemi- cal management, and recycled materials. It is packed in a waterproof pack sack which also serves as a pump sack. The mat comes with a self-adhesive patch that allows for easy repair of potential holes. 3.10 THE FENIX OUTDOOR PRODUCT EXAMPLES 2025 WITH A SUSTAINABILITY FOCUS 3.10.4 Royal Robbins: Amp Lite II L/S For most outdoor adventurers, mosquitoes make the outdoors annoying. Most mos- quito-protective clothing incorporates syn- thetic insecticides, which can be harmful to human and animal health. Royal Robbins offers an alternative solution: Mosquito Protection Technology (MPT™). Launched in Spring 2025, MPT™ is incorporated into eight styles in the Royal Robbins 2025 line, including the Men's Amp Lite II L/S. The technology prevents mosquito bites at a 92% effectiveness rate due to its complex weave, which prevents the mosquito's proboscis from getting through. Because the techno- logy that stops bites is built into the shirt itself, its effectiveness doesn’t wear or wash away, and it doesn’t expose consumers to potentially harmful synthetic insecticides. In line with Royal Robbins's commitment to using lower-impact materials, the shirt is also made from 100% recycled polyester. MPT™ was recognized as one of TIME's 2025 Best Inventions and received the CNN Underscored 2026 Innovation Award. ===== SIDA 23 ===== CSR 2025 FENIX OUTDOOR INTERNATIONAL AG 23 3.10.3 HANWAG: Kaduro Light GTX – Engineered for Durable Performance Long-distance hiking isn't the same any- more. Most hikers on the major continental trails now opt for lightweight trail running shoes – on the Pacific Crest Trail, around 92% wear low-top shoes, predominantly trail runners. On trails like this, hikers typically go through an average of five pairs during a single thru-hike, leaving behind visible “shoe graveyards” that underscore the impact of short product lifespans. With the Kaduro Light GTX, HANW AG set out to address this challenge by combin- ing two worlds: the durability and robust- ness traditionally associated with hiking boots and the soft, responsive characteristics of trail running footwear. At the core of the shoe is the HANW AG BEAD Technology: permanently elastic E-TPU beads combined with PU foam cre- ate a midsole engineered for lasting cush- ioning and energy return. Independent laboratory testing shows up to six times lon- ger-lasting cushioning performance com- pared with established EV A-based midsoles commonly used in trail running shoes. Durability in the Kaduro Light GTX extends beyond the midsole. The abrasion-resistant polyester/poly- urethane upper and HANW AG rubber outsole are engineered for long-term performance. Like all HANW AG models, the Kaduro Light GTX is manu- factured in Europe and is fully resoleable. With this innovative model, HANW AG sheds new light on durability: cost per kilome- ter. This figure shows how far a user can go before the shoe needs replacing, making lon- gevity tangible and compara- ble. With that, HANW AG turns long-lasting performance into a metric that is both measurable and meaningful for the user. €0.66/km Benchmark 1 GO FURTHER. SPEND LESS. UP TO 82% LOWER COST PER KILOMETER .* €0.23/km Kaduro Light GTX €1.28/km Benchmark 2 *Based on independent third-party lab testing compared to 2 established EVA-based trail running shoes. 3.10.2 Devold: The Original Islender Sweater The story of Devold begins with the iconic Devold sweaters. Since 1853, they have been shaped by workers along the Norwegian coast – by fishermen and farmers working through harsh conditions, and by explorers push- ing beyond what was thought possible. The sweaters were never designed to impress. They were built to protect. Made from 100% pure new wool from Norwegian sheep and knitted in a heavy three-gauge construction – either solid or in two-colored jacquard – they are dense, insu- lating and protective by nature. The pattern adds warmth. The weight adds shelter. Since 2025, they are also certified with the Nordic Swan Ecolabel, one of the world's most demanding environmental standards. Among them stands the Original Islender. Introduced in the 1850s as workwear for fishermen, it became known for one simple reason: it worked where everything else failed. Over time, it became more than a sweater. It became associated with quality. With protection. With freedom. With people who work hard and stand their ground. With explorers. With coastal culture. With a certain Norwegian free spirit. That is why it keeps being rediscovered, generation after generation. If treated with care, it will last for decades. It can be repaired, patched and passed on – gathering character along the way. And when its work is done, it returns to nature. Proven for 173 years. ===== SIDA 24 ===== 24 CSR 2025 FENIX OUTDOOR INTERNATIONAL AG ===== SIDA 25 ===== CSR 2025 FENIX OUTDOOR INTERNATIONAL AG 25 4. Society (ESRS S2): Workers in the value chain Respecting people across our value chain 4.1 THE IDENTIFICATION AND ASSESSMENT OF MATE- RIAL IMPACTS, RISKS AND OPPORTUNITIES INCLUDING PROCESSES At Fenix Outdoor, our relationship with society is closely linked to how we conduct business across our value chain. As a group oper- ating globally through retail, brands and sourcing partners, we rec- ognize that our activities influence working conditions beyond our own organization. Respect for human rights and fair working condi- tions are therefore core elements of our responsibility as a business. Our approach to societal responsibility is guided by interna- tional frameworks such as the UN Guiding Principles on Business and Human Rights and the ILO Core Conventions. These principles inform how we engage with suppliers, business partners and other stakeholders, and how we identify, prevent and address potential negative impacts related to labor rights and working conditions. The majority of Fenix Outdoor’s societal impacts are connected to our upstream supply chain. Our products are mainly manufactured by external suppliers, though we also own production sites, often operating in regions where labor standards and enforcement levels vary. While we do not directly employ these workers, we acknowl- edge our responsibility to influence working conditions through responsible sourcing practices. All suppliers are required to adhere to our Supplier Code of Conduct (CoC), which sets minimum expectations related to working conditions, health and safety, wages, working hours, non-discrimination, freedom of association and the prohibition of child and forced labor. During 2025, approximately 99% of our Tier 1 suppliers formally signed the CoC, reflecting broad acceptance of these expectations. Where suppliers do not respond or fail to meet our requirements, we engage with them to clarify expectations and encourage improve- ment. In cases where suppliers remain non-responsive or unwilling to comply, we may reconsider or terminate the business relationship. We continuously assess risks related to workers in our value chain by considering factors such as geographic location, type of activity and known sector risks. This helps us identify areas where workers may be more exposed to challenges such as excessive working hours, insufficient health and safety measures, or limited access to effective grievance mechanisms. Our risk assessments are informed by supplier engagement, internal reviews and dialogue with external stakeholders and multi-stake- holder organizations such as the Fair Labor Association. These insights help us to understand their concerns and co-create solu- tions, prioritize actions and focus on our engagement where poten- tial impacts are most significant. 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 coordinator and the Human Rights Officer of the Fenix Outdoor Group and actively embedded and driven by internal sourcing and material, purchasing and product development teams of each brand (no changes to previous years). The social compliance audits are con- ducted by our own team of three social auditors which is comple- mented outside of China and Vietnam and supported by a third- party service-partner, LRQA. As mentioned in earlier 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. Therefore, it covers the key human right risks as outlined in the OECD Guidance. The governance of positive and negative impacts within Frilufts Retail’s value chain follows the same fundamental principles and is as well aligned with key international frameworks, including the United Nations Universal Declaration of Human Rights and the Interna- tional Labour Organization’s Declaration on Fundamental Principles and Rights at Work. The tools, policies, processes and actions implemented are specif- ically tailored to the characteristics and risk profile of the retail busi- ness. The oversight of human rights due diligence across the retail group is provided by the Human Rights Officer at Globetrotter. We at Fenix Outdoor strongly agree that safe and fair work- ing conditions shall be the standard, not the exception. That is why we became a member in 2013 and are an accredited member of the multi-stakeholder 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 manage- ment approach constantly to (new and upcoming) requirements such as the German Supply Chain Due Diligence Act (“Lieferketten- sorgfaltspflichtengesetz / 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 entities are therefore commit- ted to identifying, assessing and managing material impacts, risks and opportunities related to workers in our value chains. This pro- cess 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 assessed actual and potential positive and negative impacts on value chain workers, considering ESRS sub-topics from working conditions, equal treatment and opportunities for all and other work-related rights and those have not changed from the previous year: 4. TABLES, PAGE XX-XX 1 The FLA promotes human rights at work. It is an international network of companies, universities and civil society organizations collaborating to ensure that millions of people working 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 evalu- ates a company’s systems to improve labor conditions in its Tier One 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. ===== SIDA 26 ===== 26 CSR 2025 FENIX OUTDOOR INTERNATIONAL AG • L abor rights and working conditions like wages, working hours, occupational health and safety • L iving wage and fair compensation by ensuring suppliers and partners provide adequate compensation • S ocial protection and benefits, for example, having access to healthcare, paid leave and insurance • H uman rights and responsible sourcing with topics such as forced and/or child labor, discrimination and freedom of asso- ciation • G rievance mechanisms and worker representation: Availability of secure channels for reporting concerns • E nvironmental and health risks which might occur due to climate change • V ulnerable groups such as female workers through gender discrimination, lower wages, thus economic vulnerability and financial dependencies, harassment, abuse as gender-based violence (table S9) • Y oung workers: Lack of experience, higher impact on their physical and mental health of hardworking conditions, long working hours can negatively impact and disrupt the education as personal development of young people (table S9). We assess these possible impacts through our due diligence pro- cesses, which include: • S upply chain mapping and ESG risk profiling include data from our third-party system partner LRQA with EiQ2: Currently eval- uating Tier 1 and Tier 2 suppliers, if data is available. But also screening human rights reports or NGO findings. • C onducting and/or monitoring second- or third-party audits or verified assessments such as SLCP to prevent or mitigate possi- ble ESG risks. • G rievance data analysis and worker feedback through third parties, such as the WE team: Monitoring worker complaints, and anonymous reports. Identifying patterns from possible worker complaints and concerns. Incoming grievances are handled confidentially and with high priority and are aligned with the UN Guiding Principles on Business and Human Rights and the requirements of the Corporate Sustainability Reporting Directive (CSRD). Find here the process description. • S takeholder 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 current dialogue program we partnered with and/or NGOs. We have identified the following impact for workers in our value chain through our materiality analysis: • E xcessive overtime due to short notice changes or order place - ments • Lack of work due to cancellations • Unfair payment practices due to price pressure • S ubcontracting due to capacity shortages in a supplier (planning). We are also aware of several risks and human rights violations due to sub-developed countries’ standards in workplace safety, healthy workplace and recruiting practices. We are aware of certain prac- tices in one country that may constitute or be perceived as forced or bonded labor, particularly in relation to the recruitment, treatment and remuneration of migrant workers, who often belong to vulnera- ble groups. Once identified, we evaluate the impact using the follow- ing criteria: • S everity: How serious is the harm to workers? (e.g., forced labor vs. minor wage delays) • Scale: How many workers are affected? • R emediability: Can the harm be reversed or mitigated? Can we develop the supplier? • L everage: How high is our purchase volume compared with other customers that the supplier might have? Our response depends on the nature and severity of the issue and by implementing corrective and preventive actions. To ensure sustain- able impact, we track progress through: • R egular audits and supplier assessments: Evaluating compliance improvements • F eedback from strategic suppliers and grievance mechanisms: Listening to the workers’ perspective and checking whether workers experience positive changes • P ublic reporting and transparency: Disclosing remediation progress in sustainability reports. Example of how perspectives of value chain workers are integrated into our human rights due diligence: We integrate the perspectives of value chain workers through a combination of direct engage- ment, representative dialogue and the use of credible proxies. Direct engagement with contracted facilities takes place through annual surveys, webinars and a sustainability newsletter addressed to facility management. In addition, value chain workers have access to a griev- ance channel that can be used directly. Information on this channel is made available through publicly displayed CoC at factory sites and via audit teams during on-site assessments. We regularly assess whether contracted facilities have their own grievance mechanisms in place and evaluate their accessibility, con- fidentiality and effectiveness in addressing workers’ needs. As part of our human rights impact assessment process, we conduct annual on- site visits and worker interviews. These assessments include engage- ment with legitimate worker representatives, such as trade unions and works committees, to better understand concerns raised by employees in our value chain. Where implemented, the WE program enables deeper and more continuous insights into worker perspectives and ongoing issues at facility level. In situations where direct engagement is not feasible, we rely on credible proxies, including independent NGOs and third- party auditors specialized in labor rights. These partners conduct in- depth assessments of working conditions and provide independent findings that inform our decision-making. By combining direct worker engagement, representative dialogue and proxy-based assessments, we ensure an inclusive and reliable understanding of worker perspectives across our value chain. Conclusion: Our process ensures a structured, data-driven, and worker-centered approach to addressing actual or potential negative impacts. By combining risk assessment, supplier engagement, cor- rective actions and ongoing monitoring, we aim to proactively pro- tect and improve conditions for value chain 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 adverse impact. For that, we use a variety of tools to cease, prevent or mitigate possible ESG risks: • C ountry risk screening: We run a regular internal screening of risks in the production countries where we as well as our partners are 2 EiQ is a so-called end-to-end supply chain ESG due diligence platform, which allows us to map HREDD issues on a country level, and even zoom in on provinces and specific product categories. This system allows us to screen the severity of risks on country level and therefore the most negative impacts for the workers. The database is updated annually. ===== SIDA 27 ===== CSR 2025 FENIX OUTDOOR INTERNATIONAL AG 27 manufacturing by analyzing different criteria (ESG risks, corruption, etc.). • R esults of HREDD-audits and verified assessments which we cluster in different grades (A and B is preferred, C acceptable but needs remediation, D not acceptable and urgent need to remediate or stop partnership). • I nternal risk assessments per brand by using factors such as the purchased volume (FOB), order quantities, EiQ country risk score, and HREDD audit results. • R isk assessment according to LkSG risk categories: type and scope of business activity, ability to influence the direct cause, and our contribution to the potential cause, severity and proba- bility of human rights violation. • S ustainability scorecard results of Tier 1 supplier track annual development on defined sustainability criteria on factory level. • A ggregated wage data received and filled out by our Tier 1 supplier. • S takeholder consultations with FLA or the WE program. We use the following tools to measure those risks: • R isk scores include environmental impacts from EiQ and other international recognized parties. • H REDD audit or verified assessment results, the remediation efforts, feedback from the local WE team facilitator. • I nternal ESG risk assessments and sustainability scorecards on Tier 1 factory level build into our PLM system. • U sing the traceability tool insights to broaden HREDD scope. • FLA Fair Compensation Dashboard. • Retail ESG Assessment for brands in the assortment. • I nternal systems and external resources like industry reports and statements, news, benchmarks, etc. The identified high risks for workers in the value chain of Fenix Brands in 2025 are presented in tables S3 and S4. Table S9 shows the workforce composition of assessed factories Tier 1-3 and enables a clear focus on vulnerable groups. 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 ensure that 100% of all vendors are explic- itly committed to our human rights requirements, as well as broader ESG expectations. By making ESG parameters a contractual obliga- tion and actively engaging with partners on these provisions, we cre- ate a strong basis to align efforts toward promoting worker welfare and enabling sustainable value creation across our supply chain and the wider industry. An analysis of our retail portfolio shows that not all partners are currently members of preferred multi-stakeholder initiatives such as the Fair Labor Association (FLA) or the Fair Wear Foundation (FWF). This represents a significant opportunity. Participation in such initiatives can strengthen social compliance management and human rights due diligence by providing structured frameworks, tools and guidance to identify, prevent and mitigate human rights risks in supply chains. It also supports alignment with international labor standards, strengthens internal policies and enables more pro- active management of social risks. In addition, our internal ESG brand performance check serves not only as a risk assessment tool but also as a development instrument for our partners. We share the results with brands and provide guidance on how identified gaps and opportunities can be addressed, supporting continuous improvement and stronger ESG performance over time. Looking at the Fenix brands, one opportunity is driving capacity training and enhancing worker engagement in the value chain of Fenix brands. That is why we started in 2024 proactively to engage with the WE program 3 by selecting two strategic Tier 1 suppliers in Vietnam. In 2025, we added another strategic supply chain partner to this approach. In our annual survey, we ask our suppliers what training they are currently taking part in and ask if we can provide support develop- ing certain topics. With that, we can start the conversation and pro- vide the support needed. In addition to that, we continued analyzing worker wages to mea- 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 S5. 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 different collaborative programs to support our supply chain part- ners to transform into 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 that we have con- ducted (view tables S1 and S2); the number of reported labor rights violations (table S4); their remediation status (table S7); and the feedback we receive from programs 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 Universal Declaration of Human Rights (UDHR), the UNGC, the UNGPs, the International Labour Organization (ILO), the OECD Guidelines for Multinational Enter- prises, as well as the UN SDGs which embeds our human rights understanding, extends to all individuals who are impacted by Fenix Outdoor including colleagues, 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. Responsibilities for the environment in the supply chain are determined in the inter- nal 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 2025, we updated our CoC once again and sent it to our direct and nominated indirect supplier who signed it and therefore stay com- mitted to our values. 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 reevaluate the production countries we are in by doing ESG-driven risk analysis. 3 The WE program is a dialogue-based program that runs in factories all over the world. During their factory visits, the WE facilitators 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. ===== SIDA 28 ===== 28 CSR 2025 FENIX OUTDOOR INTERNATIONAL AG This internal guidance is available to dedicated people and is shared on a yearly basis as part of the sustainable supply chain activities. Additionally, we have an internal social compliance and human rights guideline next to our internal responsible purchasing and production policy, which is mandatory for our brands’ operations to follow. Our understanding of fair compensation is defined in our publicly available policy. Our annually updated statements on Modern Slavery and Human Trafficking and of Compliance with California Transparency in Supply 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 on related human rights violations and share the description of the process. We publish our Tier 1 manufacturer list on our own website as well as update the data annually on the OpenSupplyHub website. A central element of the due diligence process for retail related to the protection of human rights and environmental responsibil- ity is the Frilufts Retail Brand Supplier Code of Conduct (CoC), sup- ported by a corresponding internal implementation policy. All brand partners are required to explicitly agree to these requirements as part of their contractual obligations. Before onboarding a new supplier, we apply a standard verification process to ensure that production does not take place in high-risk countries (currently Myanmar, Bangladesh, India and Cambodia), unless the partner is a member of a recognized multi-stakeholder initiative (currently the Fair Wear Foundation or the Fair Labor Association) or can demonstrate a credible human rights manage- ment system and established practices. This step helps ensure that severe human rights risks are identified at an early stage, and that business relationships are not entered into where responsible prac- tices cannot realistically be ensured. These requirements are defined in the HRDD Retail Onboarding Policy. In addition, we update our Statement on the German Supply Chain Due Diligence Act (LkSG) and our statement under the Norwegian Transparency Act on an annual basis. https://www.fenixoutdoor.com/wp-content/uploads/2024/06/ LkSG_Statement_2024_EN.pdf To ensure transparency toward stakeholders, we also provide public access to the Code of Conduct, the Fenix EthicsPoint whistle- blowing system and information on our human rights due diligence on our website. 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 to strengthen our HREDD and risk management approach by: • Assessing risks for workers on supplier level o C onducting regular HREDD audits and monitoring verified SLCP-assessments (table S1; in total 92 assessments). In 2025, we expanded the overall Tier 2 audit coverage by increasing the number of audited Tier 2 factories (18 more audits) and by auditing Tier 3 (3 audits) and Tier 4 (1 audit) factories for the first time. Focus on high-risk sectors and geographies where violations of labor standards are more likely. Scope includes assessment of wages, working hours, contracts and adherence to child and forced labor prohibitions. o M itigating and remediating findings from assessments through our own social compliance staff. o R unning brand-specific risk assessments taking different cri - teria such as purchasing volumes and FOB, country risk crite- ria as audit results into account to identify high-risk suppliers. o D riving the use of internal supplier scorecards (table S6), which integrate social and environmental criteria and share scorecard results during meetings with suppliers o U sing feedback from NGOs and shared public information to identify systematic labor and environmental risks. • Strengthening responsible purchasing practices by o I ntegrating fair practices into supplier agreements. o I mproving internal policies, e.g., vendor manuals, responsi - ble purchasing policy, etc., describing the HRDD process and environmental engagement. o E nsuring value chain workers receive fair compensation and work under dignified conditions by collecting further wage data from suppliers to analyze if workers are paid a living wage or to see how high the gap to a living wage (according to the GLWC) is (table S5). Engage with purchasing and sourc- ing teams to share insights into analyzed results and discuss how the gaps can be closed. Remaining with the FLA mem- bership and using the evaluation results of FLA ’s assessment to improve internal processes and documentation. Other actions we took in 2025 to keep on improving the working conditions in our supply chain are: • I mplemented a more granular monitoring for remediated find - ings from Corrective Action Plans (table S7). • E nsuring all grievances are reviewed, addressed and resolved in a timely manner. • A ssessed suppliers’ knowledge of local grievance mechanisms and their implementation by conducting an annual survey among our Tier 1 and 2 suppliers (results in table S8). • I ncreased the WE program in Vietnam by one more supplier (three in total now) to improve working conditions. • F inalized the sustainability strategy with focused goals for value chain worker 2026-2030. • S tarted the reimbursement process for workers in mills in Tai - wan, part of a labor condition investigation. • O ffered three workshops in Vietnam (hosted by the WE pro - gram) to our suppliers: “Listening – Supporting – Partnering: The Role of Middle Management for Transparency and Compli- ance” in which seven of our vendors participated. • T raced 40 POs, meaning 224,400 finished products from 43 sup - pliers. • K ept working within industry collaborations as the FLA and AAFA (Apparel & Footwear Industry Commitment) to drive systemic change – a proactive industry effort to address potential forced labor risks for migrant workers in Taiwan. • C onduct regular reviews of our policies (also with the support of the FLA) and practices to ensure continuous improvement. As a result, the supplier CoC was updated. • P ublic disclosure of the annual sustainability report with key audit finding areas and of our Tier 1 factories through Open Supply Hub, our own website, and to the FLA. The key actions for improving labor conditions in the value chain are structured into three phases: short-term (0–2 years) for foun- dational initiatives like supplier audits and grievance mechanism improvements, medium-term (3–5 years) for broader policy imple- ===== SIDA 29 ===== CSR 2025 FENIX OUTDOOR INTERNATIONAL AG 29 mentation such as living wage and supplier training, and long-term (5+ years) for full compliance, continuous monitoring and integra- tion of international labor standards across all value chain operation. Example from the WE program – Positive Outcomes: As part of the WE Program, several improvements were imple- mented at factory level, leading to measurable positive outcomes for workers and management practices. A revised overtime policy was introduced, ensuring closer alignment with legal requirements and improved compliance. Transparency and understanding of monthly wage calculations were strengthened through improved communica- tion with workers. Worker well-being was further supported by the installation of additional drinking water dispensers and the introduction of regular cleaning routines. To better understand employee needs and percep- tions, a worker survey was conducted, providing valuable insights to inform further actions. These initiatives contributed to a significant improvement in the factory’s audit performance, with the audit grade increasing from D to B. In parallel, the communication style of supervisors improved, supporting a more respectful and constructive workplace culture. The canteen setup and facilities were also upgraded to enhance over- all working conditions. Finally, accessibility of the grievance mechanism was strengthened through the introduction of a QR code enabling direct contact with the General Manager, which resulted in increased use of the griev- ance channel and improved worker engagement. Our scope of key actions is designed to comprehensively address labor conditions throughout our value chain, prioritizing high-risk areas (table S3) and groups (table S9). By setting clear objectives, leveraging monitoring systems and aligning with global standards, we aim to drive meaningful improvements for all workers connected to our operations. These actions reflect our commitment to respon- sible business practices and contribute to the long-term sustainabil- ity of our operations. All actions of our impact are being reported on a yearly basis in the CSR Report of Fenix Outdoor as well as with internal stakeholders such as the management teams during ongoing internal reports. Already in 2023, we have started to write an excerpt of the holistic CSR report for the brand Fjällräven and continued it in 2025. Other Fenix brands such as Hanwag will follow Fjällräven’s actions in 2026. On a monthly basis, current social compliance audit results, CAP statuses, upcoming audit dates, sentinels, etc. are being shared with dedicated colleagues and decision makers. We use internal systems like the PLM to share assessed data like the sustainability scorecard on factory level within the company. These colleagues have as well access to the mentioned EiQ system. When it comes to preparing our partners (indirect and direct) for upcoming HREDD legislation, we use annual questionnaires, webi- nars, meetings and our own sustainability newsletter to share knowl- edge. In doing so, we want to support our partners to reflect upon 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 supplier 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 FLA members sharing publicly results of our annual evaluation. In 2025, we were assessed on FLA ’s principle 7: Collection & Man- agement of Compliance Information (preliminary result: 97%), prin- ciple 8: Timely and Preventative Remediation (preliminary result: 83%), principle 9: Consultation with Civil Society (preliminary result: 64%) and principle 10: Verification Requirements (prelimi- nary 72%). The results will be added to the FLA website sometime in 2026. Our approach to tracking and assessing effectiveness is data- driven and continuously evolving. Through KPIs, independent audits, feedback from industry organizations such as AAFA or FLA and public transparency, we ensure that our actions create meaning- ful, positive changes for value chain workers. Within our retail operations we have taken proactive, measur- able steps to address key impacts, risks and opportunities concerning human rights in the supply chain related to our brand partner. These efforts are aimed at preventing negative outcomes, ensuring adherence to international labor standards and fostering positive social results. Actions in 2025 included: We annually report on our human rights due diligence (HRDD) activities to the Federal Office for Economic Affairs and Export Control (BAFA) and update our general statement on human rights in the supply chain; this was also completed in 2025 even though the recent government changed the requirements. To ensure transparency toward stakeholders, we published the latest report and statement on globetrotter.de, together with the Frilufts Retail Brand Supplier Code of Conduct and a link to the Group’s EthicsPoint whistleblowing system. At the beginning of 2025 we established the HRDD Retail Onboarding Policy, strengthening our due diligence requirements for new business partners. Following its introduction, targeted train- ing was provided to vendor management and the purchasing depart- ment to ensure consistent implementation of the policy in day-to- day sourcing decisions. In addition, we conducted a dedicated HRDD workshop for the Globetrotter purchasing team. The workshop covered our HRDD instruments and processes, the Fair Wear Foundation’s perspec- tive on human rights due diligence, the Group’s and Fenix brands’ HRDD approaches, and relevant legal developments. The objective was to strengthen internal understanding and practical application of HRDD across the purchasing function. We also carried out a human rights risk assessment, which we plan to conduct at least bi-annually. This assessment supports the identification of suppliers with elevated risk profiles and informs decisions on where closer follow-up is required. It considers the scope of business activity, country-specific and structural risks, and the likelihood of potential adverse impacts. In practice, this enables a risk-based prioritization of actions, focusing on efforts where the risk of harm is highest. As a result of the 2025 risk assessment, 10 brands were identified for follow-up engagement. In 2026, these brands will be reviewed in more detail using our Brand ESG Assessment, supporting targeted dialogue, risk mitigation and continuous improvement. 4.4 Targets In 2025 we finalized our new sustainability agenda 2026-2030, which has been released and published in January 2026 in the updated Fenix Way. For this reporting phase, though, we will remain at the targets we have set until 2025. Targets of 2025 in our cardinal direction “Society”: Taking on societal responsibility not only includes being a good corporate citizen but also assisting in improving and developing communities as well as adhering to a high level of business ethics. 1. Stakeholder engagements – hold stakeholder dialogues on a regular basis. KPI: At least one meeting every other year; at least one survey every third year. ===== SIDA 30 ===== 30 CSR 2025 FENIX OUTDOOR INTERNATIONAL AG Results in 2025: • W e hold several internal meetings regarding sustainability topics with various attendees. • W e engaged in different public forums (e.g. FLA conference, sustainability peer meetings, etc.). • W e shared sustainability news through newsletter with our value chain partners and engaged through meetings, audits, supply chain programs and an annual survey. • W e were involved in various conversations with non- governmental organizations and end-customers. Future focus: • I dentify and prioritize stakeholders based on influence, interest and impacts. • S trengthen communication and transparency, e.g., two-way dialogue with interactive discussions. • L ocalize the engagement and conduct business unit-specific forums. • Improve feedback loops. • Widen the collaboration with external partners. 2. Human Rights – to conduct regular human rights related activities. KPI: Ongoing human rights (and environmental) assessments and training; zero incidents each year. Results in 2025: The total number of verified HREDD assessments declined com- pared with last year. This decrease is due to a reduced number of Tier 1 facilities and improved audit performance, which results in extended audit cycles. It can be stated that the share of preferred A and B Grade results advanced again compared to the previous year. (2023 = 57%, 2024 = 63%, 2025 = 70%). Next to that, we achieved the following in 2025: • W e conducted three Tier 3 and one Tier 4 HREDD assessments in 2025. • W e conducted 18 Tier 2 HREDD assessments in 2025 (including vSLCPs). • W e conducted 70 Tier 1 HREDD assessments in 2025 (including vSLCPs). • O verall, the assessments were 49% conducted by our second- party audit firm, 18% by our partner LRQA and the other 33% were accepted vSLCP . • 7 0% of our assessed suppliers achieved “good” results (A & B Grade audits). • W e found one non-compliance related to child labor and young workers. The finding was related to missing records of worker IDs and age documentation (table S3). • W e detected forced labor in Taiwanese factories and started the remediation process immediately. • M ost audit findings occurred in the field of health and safety. • W e run an ESG assessment for Fjällräven, Tierra, Royal Robbins and Frilufts defined high risk suppliers also based on purchase volume. • W e rolled the WE program out to an additional Tier 1 supplier and continued with the program in two factories in Vietnam. • W e managed to conduct further wages of workers and engaged with our internal teams to strengthen the dialogue with their supplier in relation to a living wage. • B y updating the production country risk map, the environmental risks were also updated and considered. 0 20 40 60 80 100 120 0 20 40 60 80 100 120 A & B grade are preferred; C is acceptable 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 2025 0 20 40 60 80 100 120 0 20 40 60 80 100 120 a) Number of verified HREDD assessments NUMBER OF HREDD ASSESSMENTS 61 74 54 76 93 108 2019 2020 2021 2022 2023 2024 2025 92 0 20 40 60 80 100 120 0 20 40 60 80 100 120 27% 73% 0.73% 15 WORKFORCE COMPOSITION AND VULNERABLE GROUPS (TABLE 59) Male Female Migrant Youngest worker found ===== SIDA 31 ===== CSR 2025 FENIX OUTDOOR INTERNATIONAL AG 31 Future focus: • B roaden the assessment scope and enlarge the total audit cover - age further by including Tier 2 and Tier 3 suppliers by gaining more transparency through traceability. • F urther involve risk focus by analysis by country, purchasing volume and ESG-identified risks to focus on high-risk suppliers and by considering environmental risks as well. • S tart a living wage development program with one or two strate - gic Tier 1 suppliers. • E nsure positive social impact for workers, for example by offer - ing support through the WE program and therefore keep on rolling out the WE program and other value chain improvement programs to strategic suppliers to enhance worker engagement. • C ontinue to 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. • F urther expand the monitoring of reoccurring findings in social audits and engage with suppliers to minimize these. 3. Product responsibility – monitor incidents related to the use of safe handling of Fenix Outdoor products. KPI: Reported incidents as ratio no. of cases / new products per relevant category, target: zero incidents Results in 2025: 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. 4. Business Ethics – Train all staff and suppliers on the CoC. KPI: > % of staff / supplier trained target: 100% trained staff; 80% trained sup- pliers (Tier 1 & 2). Results in 2025: The Supplier CoC was updated in 2025. Therefore, 100% of staff and contracted value chain actors had to be trained. Percentage of retail brand suppliers that have signed the CoC: 99% Percentage of Fenix brand suppliers that signed the CoC: • 100% of traders • 99% of T1 suppliers • 73% of nominated T2 suppliers. Future focus: • D o regular refresher training on the Supplier CoC. • K eep pushing Tier 2 suppliers to sign the latest version of the Supplier CoC. • C onstantly update the content of the Supplier CoC in alignment with updated requirements. 5. Business Ethics – Zero incidents of corrupt behavior, bribes and embezzlement. KPI: Zero reported incidents. Results in 2025: One reported incident on Tier 1 level through the WE program. Future focus: • D o regular refresher training on our Fenix Way values including corrupt behavior, bribes and embezzlement. 6. T ransparency – Transparency of products and materials. KPI: Full transparency for own products and materials representing 80% of brand value. Results in 2025: Not achieved. Target will be moved to the strategy 2030. However, we scaled the pilot which we started in 2024 up and have traced 40 POs, which are 224,000 finished products from 43 suppliers in 2025. The focus with this project lies on tracing sustainable materials all the way up to Tier N level. Future focus: For 2026–2027, we plan to include more Fenix brands such as Hanwag and increase the numbers of POs and Tier 1 suppliers into the identified system partner focusing especially on textile products and materials which are more sustainable (e.g., recycled polyester, organic cotton, etc.). We plan to gain 100% traceability in the defined textile scope by the end of 2027. ===== SIDA 32 ===== 32 CSR 2025 FENIX OUTDOOR INTERNATIONAL AG ===== SIDA 33 ===== CSR 2025 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: • J ob creation and providing an income that is above minimum wages and allows for a discretionary income • A dherence to legal provisions in legislation where we operate (mainly the EU, Europe, North America and China) • H ealth and safety at the workplace • Commute • F air treatment of employees (non-discrimination, non- harassing environment) • S ocial protection (e.g., social security like health insurance, sick leave, parental leave etc.) • W ork-family-life balance • P ersonal and professional development • R ight to collective bargaining. 5.2.2 Risks The main risks we have identified are: • L ow productivity due to high number of sick days/absences • I nsecurity/fear among employees due to layoffs and through changes/reorganizations/economic downturn • H igh employee fluctuation • C onflicts 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 impact positively on our own workforce and result in opportunities we may benefit from: • E mployee satisfaction/engagement • I ndividual development plans • I nternal staffing of management positions • S upport for employees with children and relatives in need of care (retention) • P ositive effects of good working conditions (e.g., adequate pay) • D iversity through inclusion (e.g., corporate integration management). 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., manufacturing, warehouse staff, sales, back-office, etc.). Certain impacts (e.g., f amily- related leave) affect specific groups (e.g., women) in particular. There are no operations at significant risk of incidents of child labor or forced and bonded labor in our own operations. Our policies apply company-wide and globally (unless otherwise noted). 5.2.4 Workforce Composition and Structure In 2025, Fenix Outdoor employed 3,021 FTEs in our various entities and countries (2024: 2,790; see Table W-1). This is an increase of about 8.3 %, predominately due to the integration and acquisition of Devold. Most of our employees are permanently employed, but we employ sea- sonal workers in retail and warehouse operations during peak seasons. We employed eight female and 13 male apprentices in the year 2025. 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 after- ward for the global job markets. About 70 non-workforce employees were reported (consultants and temporary employees). The staff turnover rate in 2025 (defined as all employees who left versus total number of employees) over all operations including the retail business is 20.07% (2024: 35.24%). The ratio between females and males leaving Fenix Outdoor was not established this year but is similar to 2024 (2024: ratio F/M 1.2:1), meaning that roughly half of staff members leaving were females (55% in 2024). We define signif- icant fluctuation as 25% or more employees leaving. The reason for the development is mainly due to downward economic trends and some operational reorganizations. When it comes to temporary 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 opera- tional 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 limita- tions in validity. Using the NOVISTO system’s consolidation, 99% of our employees are eligible to take family leave (2024: 82.5%). In 2025, 2.0% of those took family-related leave (2024: 2.1%). After 12 months, all (2024: all) were still employed. Since parental leave is regulated differently in various countries, the figures are not com- parable to any specific time frame as prolongations or shifts in time off in Europe in particular 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 statistics 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 • R epresentation of minority groups: no data available. Our company respects and protects the rights of our employees. That personal information is not to be shared publicly 5. WELL-BEING (ESRS S1) 5. TABLES, PAGE XX-XX ===== SIDA 34 ===== 34 CSR 2025 FENIX OUTDOOR INTERNATIONAL AG • W - 4: Key workplace safety statistics (e.g., accident rate, lost time injury frequency rate) • W – 5: Total hours of training provided per employee • I nvestment in upskilling and reskilling programs: no data available – see personnel costs in annual report • W – 6: Various KPIs: Local Entry Wages, Workforce covered by collective bargaining agreements; Signed CoCs • W – 7: Working hours and flexibility at the workplace • W – 8: Payment Ratios and Gender Pay Gap • W – 9: Compensation Summary Report 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 commitment to respecting human rights, including labor rights, safe and healthy workplaces and a discretionary income for our employees. We take responsibility for the company’s business activities throughout our value chain. The Fenix Way is built on our commitment to • Th e International Declaration of Human Rights • Th e UN Guiding Principles on Business and Human Rights • Th e Principles of the UN Global Compact • Th e UN Sustainable Development Goals • Th e ILO Core Labor Conventions • R espect for and protection of nature • Th e UN FCCC Fashion Charter for Climate Action • Th e societies in which we operate and for which we produce, practice good corporate citizenship and uphold the highest standards of ethical integrity. • H uman well-being, in particular the well-being of our employees all over the world who deserve a safe and healthy working environ- ment, and our customers and other stakeholders who should not suffer any harm from our products • Th e economic development of our company as well as the societies 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 international obliga- tions 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 California Transpar- ency in the Supply Chain Act (SB 567). See also Chapter 4, Society. In our Code of Conduct, which builds on our aforementioned com- mitments, we express zero tolerance regarding child labor, forced and bonded labor as well as zero tolerance regarding corrupt and unethical business practices. The values and principles of our Code of Conduct must always be observed and adhered to by all employees and manag- ers of the company. Every Fenix Outdoor employee needs to sign the Code of Conduct and our ethical principles upon recruitment. The signatures are filed by our Human Resources Department and are the basis for the contractual relationship. 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's handbook. The documents outline the reg- ulations to which employees, managers and the HR department must adhere in order to ensure legal and ethical practices within our organization. The policies cover a range of topics including equal employment opportunities, working hours, freedom of association, minimum wages, etc. We adhere to legal requirements in all jurisdictions where we operate to foster a fair, respectful and secure working environment. We view diversity within our teams as a unique strength, bringing together individuals with varied experiences, beliefs, backgrounds 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-Dis- crimination 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 treat all employees fairly and equally and making qualifications, skills and experience the basis for recruitment. Our globally accessible career platform pro- vides 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 man- agers that Fenix Outdoor currently employs is proportional to the previous year (2024: 44%). The Executive Management was 18.75% female (25% in 2024). 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 specially designated safety representatives. State labor safety bodies enforce compliance by imposing fines, though we were not subject to these in 2025. Continuous monitoring, procedure updates and employee involve- ment are vital for successful risk awareness and management. In the EU in particular, 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. ===== SIDA 35 ===== CSR 2025 FENIX OUTDOOR INTERNATIONAL AG 35 ===== SIDA 36 ===== 36 CSR 2025 FENIX OUTDOOR INTERNATIONAL AG 5.4 PROCESSES We actively promote continuous, open and transparent communi- cation at all levels. Engagement takes various forms, both informal and formal, including annual performance reviews, employee sur- veys, workshops and interactions with workers’ representatives, 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 initiatives and their respective outcomes. It sheds some light on the level of commitment of our workforce to the company and its values 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 opportunities. 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 figures given cannot be compared. However, by an unweighted and very rough estimate (number of hours given on average per person per reported entity) we can establish that about 29.59 hours in training were given to female and male employees in 2025 (2024: 40.29 hours for female and male). The figures vary dramatically 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 pro- grams, such as our Graduate Program to enable and equip employees with the skills and experience to further their professional careers. But not only that: in many locations we offer schooling and indi- vidual personal development opportunities, depending on the legal framework and business needs. Performance reviews are part of our development assessment pro- cess but vary widely from country to country. No group-wide data processing protocol exists. However, as a general recommenda- tion, all managers and employees should meet once a year to discuss the goals, tasks, and achievement levels of the past year, develop- ment needs for the year ahead as well as the overall way of working together. It should include a review of the manager’s performance in leadership, communication, inter-team, and interpersonal relation- ships. These files are logged and will serve as the basis for the review of the coming year. In addition, 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 assump- tions 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 Management, Fenix 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 mini- mum we adhere to the International Labour Organization conventions regarding rights at work and apply them to both internal and exter- nal service providers. In 2025, 4,499,128 hours (n = 3,021) were worked (2024: 3,380,224 hours, n= 2,790) by own employees. The number of non-employees and the number of hours they worked for our com- pany could not be established. Collection of information on these types of employees (often employed through agencies and support staff in stores and warehouses during peak seasons) is a manual process and not recorded in systems. Therefore, the completeness and validity of data is poor, and we therefore decided not to present it this year. 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 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 2025 and one flex/home-office day per week in accordance with the team’s needs and local provisions. 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. ” 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 ===== SIDA 37 ===== CSR 2025 FENIX OUTDOOR INTERNATIONAL AG 37 Fenix Outdoor strives to take a non-discriminatory approach by paying equal wages to men and women, 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 2025, we were on track and kept the set boundar- ies as targeted. However, a deeper look reveals that we are weak in the areas of employee engagement when it comes to corporate deci- sions and personal development options, lacking discipline in some learning and development areas. There are manifold reasons for this – among others, an overwhelming number of new rules, regulations, and internal as well as external frameworks which require attention all at the same time. In fact, mandatory e-learnings on anti-corrup- tion 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 estab- lish that about 411 employees underwent an e-learning on com- pliance and anti-corruption during 2025, and since some employ- ees 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 and the actual figure is higher than that of the recorded participants. This year marks the end of our five-year sustainability journey. We have developed and published our agenda for 2026-2030 and we will take honest account of what we initiated or achieved 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 commit- ment to creating a life-worthy, sustainable and adventurous natural world that we will all love to live in and enjoy. Looking at the achievement levels of our targets mentioned above, we are proud of having been quite successful: T arget: No incident of child labor: In conducting hundreds of audits in our own operations and supply chain partners, we did not detect incidences of child labor. We detected the risk of compulsory labor in one country and have mitigated this to the best of our ability (See Chapter 4 Society). T arget: Health and Safety monitoring: Our health and safety targets were difficult to monitor. The monitoring procedure is man- datory in some legislation and hence has been a matter of compliant business operations. However, with the strengthening of our systems and systematics, we will improve the oversight and monitoring over the years to come. T arget: Safe workplaces: In conjunction with the above monitoring and internal auditing we also identified workplace risks. In offices it is related to ergonomics, lighting and eyesight tests when computer screens are the main work tool; in production we focused on safe handing of goods and safety measures in machinery operations. A quantitative figure was difficult to establish over the full period of the sustainability plan. T arget: Audits from supply chain -> are reported in Chapter 4. T arget: Training and staff satisfaction: In the latter half of the 2020 – 2025 plan we conducted regular staff satisfaction evaluations. Those results were regularly reviewed, and corrective measures were initiated and dialogues and discussions held on critical issues. We believe we have established a robust routine in most locations. However, there is still room for improvement, and we have not yet received any awards regarding “a great place to work. ” Training is given regularly and annual data sets vary. T arget: e-Learning: We have established a global e-Learning plat- form and utilize the learnings locally as well as group-wide. However, we are still unable to develop a reliable ratio of “e-learners” versus the total number of FTEs. An informed guess would be that around one-third of all employees regularly undergo an annual e-learning program, not including mandatory refresher on IT security and product trainings for retail employees. ===== SIDA 38 ===== 38 CSR 2025 FENIX OUTDOOR INTERNATIONAL AG 2. NATURE, PAGE 08–17 Energy consumption and mix 2023 2024 2025 %YoY Explanation (1) Fuel consumption from coal and coal products (MWh) 0 0 0 0 (2) Fuel consumption from crude oil and petroleum products (MWh) 54 42 75 78 1 location with heating based on heating oil (3) Fuel consumption from natural gas (MWh) 6,898 3,613 4,901 36 Decrease from base year in 2024 due to begin of purchase of biogas (4) Fuel consumption from other non-renewable sources (MWh) 0 0 0 (5) Consumption from nuclear products (MWh) 0 0 0 (6) Consumption of purchased or acquired electricity, heat, steam, and cooling from non-renewable sources (MWh) 7,620 5,673 4,979 –12 District heating consumption. (7) T otal non-renewable energy consumption (MWh) (calculated as the sum of lines 1 to 6) 14,571 9,328 9,954 7 Share of non-renewable sources in total energy consumption (%) 46 29 33 14 (8) F uel consumption for renewable sources (including biomass, biogas, non-fossil fuel waste, renewable hydrogen, etc.) (MWh) 318 2,524 1,217 –52 Two sites source biogas directly and remaining is French biogas certificates for selected German sites. (9) Consumption of purchased or acquired electricity, heat, steam, and cooling from renewable sources (MWh) 17,007 20,570 18,840 –8 (10) The consumption of self-generated non-fuel renewable energy (MWh) 0 0 256 (11) T otal renewable energy consumption (MWh) (calculated as the sum of lines 8 to 10) 17,325 23,094 20,313 –12 Share of renewable sources in total energy consumption (%) 54 71 67 –6 Total energy consumption (MWh) (calculated as the sum of lines 7 and 11) 31,896 32,422 30,267 –7 We do not operate in high climate impact sectors and gain not net revenue from these activities. N1 ENERGY CONSUMPTION AND MIX 2023 2024 2025 Total volume of carbon credits cancelled in reporting year (t) 20,822 20,780 18,990 Share of removal projects (%) 0.8 3 16.92 Share of reduction projects (%) 99.2 97 83.08 Share of credits from Verra (%) 84.9 77 83.08 Share of credits from Gold Standard (%) 14.9 19 0 Share of credits from Climate Action Reserve (%) 0 3 16.32 Share of credits from American Carbon Registry (%) 0 0 Share of credits from Puro (%) 0 0 Share of credits from Riverse (%) 0 1 Share of credits from Plan Vivo (%) 0 0 Share of credits from Carbon Standards International (%) 0.3 0 0.6 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) 4,000 3,220 15,000 N2 GHG REMOVALS AND STORAGE 6. Performance Metrics and KPIs ===== SIDA 39 ===== CSR 2025 FENIX OUTDOOR INTERNATIONAL AG 39 N3 GHG BREAKDOWN ABSOLUTE 2. NATURE, PAGE 08–17Gross Emissions Development Milestones and target years Base year (2019) Absolut 2024 (tCO₂eq) Absolut 2025 (tCO₂eq) Absolute re- duction vs base year (t CO₂e) 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) 1,725 1,364 1,428 –296 –17 Mainly through decrease in gas consumption from our warehouse in Almere, the US and better data availability in Germany; after Biogas certificates (1,000 MWh) have been deducted, 1,244 t CO2e Scope 1 emissions are left (–29% reduction vs BY). 40% reduction absolute for Scope 1 & 2 combined 9%Percentage of Scope 1 GHG emissions from regulated emission trading schemes (%) 0 0 0 0 0 Scope 2 emissions Gross location-based Scope 2 GHG emissions (tCO2eq) 14,654 11,708 10,402 –4,252 –29 Includes CO2e emissions from CH₄ and N2O Gross market-based Scope 2 GHG emissions (tCO2eq) 4,661 939 832 –3,829 –82 Includes CO2e emissions from CH₄ and N2O Scope 3 emissions 0 Purchased Goods and Services** 63,707 46,252 72,267 8,569 13 Without Devold the reduction in PG&S is 21%. Main reason is the successful and large scale adoption of recycled fibers in our synthetic fiber categories and a reduced amount of products produced. 50% reduc- tion per product produced 13% Capital Goods** - 128 685 - - Fuel- and Energy-Related Activities Not Included in Scope 1 or Scope 2 1,234 783 906 –328 –27 Upstream Transportation and Distribution 5,311 3,603 4,294 –1,017 –19 After adoption of marine biofuel certificates (287 t CO 2e removals): 4,007 t CO2e; w/o RFI 2.7 Waste Generation in Operations** 20 75 101 81 405 Increase due to higher data transparency and completeness and addition of Devold sites in 2025. Business Travel 3,952 2,068 3,626 –326 –8 Increase in electric and hybrid cars, incl. RFI 2.7 Employee Commuting** 1,353 1,533 1,786 433 32 Survey participants in 2025: 428 (2024: 577); Slightly different sample since more people from production and less people from retail replied; extrapolation to more employees. Upstream leased assessts NA NA NA NA Not applicable Downstream Transportation and Distribution (paid by customer)** NA 222 193 NA NA Before, emissions from downstream T&D have been included in upstream due to lack of transparency. Processing of sold products NA NA NA NA Not applicable Use of Sold Products** - - Not yet calculated due to lack of data availability from use phase of our product assortement End-of-Life Treatment of Sold Products** 30,216 24,374 26,600 –3,556 –12 Calculatory mistake in baseline calculation leads to an overstated reduction Downstream Leased Assets - - - - NA Franchises - - - - - Due to very few Franchises (<5) included in Scope 1 and 2 Investments 0 0 97 97 NA Emissions from Scope 1 & 2 from partially owned companies (Tova and Viomoda) baseline year data not available. Total gross locations based emissions (tCO2eq)** 122,172 92,110 122,455 283 0 Total gross market based emissions (tCO2eq) 112,197 81,341 112,884 705 1 Total Scope 3 emissions (tCO2eq) 105,793 79,038 110,624 4,831 Biogenic emissions outside of scopes (t CO2eq) from biogas consumption 0 0 48 48 With biogas certificates, biogenic carbon emissions account for 502 t CO2e (2024) and 242 t CO2e (2025). Emissions that have been calculated but not included in the inventory because base line data was not available: 2024 2025 Emissions from Frilufts Retail Assortment (excl. Fenix brands, t CO 2e) 42,251 45,178 Emissions stemming from Website sessions (t CO2e) 134 60 High-level assessment of share of FLAG emissions in 2025 inventory % < 10% *Including growth rateEmissions that have been calculated with the Greenhouse Gas Protocol and reporting requirements from STICA whenever possible in accordance with the operational control approach. Please find detailed information on emission factors, data impairements and caveats in chapter 7 of this report. 50% absolute reduction compare to baseyear 2025 in material scopes1, 2 and 3 categories 90% absolute reduction compare to baseyear 2025 in material scopes1, 2 and 3 categories ** Devold data not available for baseline year 2019 but included in 2025 ===== SIDA 40 ===== 40 CSR 2025 FENIX OUTDOOR INTERNATIONAL AG 2. NATURE, PAGE 08–17 Other emissions in kg 2023 2024 2025* NOx 14,728 15,385 7,230 SO2 10,564 3,843 4,456 NMHC 1,292 3,188 11,861 PM10 1,044 849 666 N5 POLLUTANTS N-4 GHG intensity per net revenue 2023 2024 2025* YoY comparison (%) Total GHG emissions (location-based) tCO2e 106,074 92,110 122,455 33 Total GHG emissions (market-based) tCO 2e 96,950 81,341 112,884 39 Total GHG emissions (location-based) per net revenue (tCO 2eq/Monetary unit) 143 134 176 31 Total GHG emissions (market-based) per net revenue (tCO 2eq/Monetary unit) 131 119 162 37 Net revenue used to calculate GHG intensity (MEUR) 740 686 695 1 Net revenue (other) - - Total net revenue (in financial statements) 740 686 695 N4 GHG BREAKDOWN INTENSITY * including Devold ===== SIDA 41 ===== CSR 2025 FENIX OUTDOOR INTERNATIONAL AG 41 2. NATURE, PAGE 08–17 Amount conventional (kg) Amount more sustainable (kg) Amount recycled (kg) MARKETING 353,072 603,081 43,119 Cardboard 4,304 336 1,271 Glue 1,561 Ink 8,045 4,753 Paper 324,654 595,744 41,517 Plastic 10,386 2,110 6 PVC 443 26 Wood 725 60 Other Materials 2,811 52 325 Other Metals 143 OFFICE SUPPLY 6,799 13,088 745 Cardboard 1,918 2 15 Glue (glue stick, tape) 156 4 1 Metals 254 5 2 Paper 2,595 12,990 555 Plastic 1,145 35 133 Toner/Ink 92 14 4 Other Materials 639 38 35 PACKAGING 642,374 147,872 399,472 Cardboard 415,752 138,312 261,752 Glue (glue stick, tape) 18 Metals 1,942 Paper 138,999 8,848 68,354 Plastic 6,373 443 3,098 Polyethylene 43,349 62,918 Polypropylene (e.g. straps, tapes) 8,881 152 3,286 PVC 715 117 Wood 25,975 Other Materials 389 47 SHOPPING BAGS 18,297 22,603 7,917 Multi use plastics 5,298 1,073 Single use plastics 3,524 Paper 16,267 13,781 6,844 Other Materials 2,030 Total all consumables 1,020,542 786,644 451,254 N6 CONSUMABLES (INCL. DEVOLD) ===== SIDA 42 ===== 42 CSR 2025 FENIX OUTDOOR INTERNATIONAL AG 2. NATURE, PAGE 08–17 Materials Amount conventional (kg) Amount more Sustainable (kg) Amount recycled (kg) Total t CO2e* PLANT-BASED FIBERS AND MATERIALS Coconut 91 0 Corozo 381 0 Cotton 51,666 413,548 3,241 3,642 Hemp 21,592 0 286 Paper 0 Wood 0 Other plant-based fibers and materials ANIMAL DERIVED Alpaka Bees wax 1,190 1 Down 24,103 39 Leather 1,393 166,649 2,360 Silk 1,250 113 Wool 109,904 562,209 2,050 30,177 MAN-MADE CELLULOSIC FIBERS Lyocell 19,599 171 Modal 2,145 21,394 246 Viscose 38,069 625 Other man-made cellulosic fibers 1,429 19 SYNTHETICS FIBERS AND MATERIALS ABS plastics 185 1 Acrylic 10,578 161 Elastane 18,850 167 ePE/PU 10,962 42 Fiber glass reinforced plastic (FRP) 3,705 16 PLA 389 2 Polyamide (Nylon, etc.) 148,327 376,660 5,812 Polyester 316,594 750,693 9,084 Polyethylene 5,074 20 Polypropylene 180,754 1,122 Polyurethane 11,277 132 POM 28,147 156 Thermoplastic Elastomere 48 0 Thermoplastic Polyurethane 12,155 87 Tritan 956 7 Other synthetic fibers 194 2 N7 RAW MATERIAL INFLOW (INCL. DEVOLD) ===== SIDA 43 ===== CSR 2025 FENIX OUTDOOR INTERNATIONAL AG 43 2. NATURE, PAGE 08–17 METALS AND INORGANIC Amount conventional (kg) Amount more Sustainable (kg) Amount recycled (kg) Total t CO2e* Aluminium 7,644 70 Brass 57,568 55 Copper 1 0 Stainl. Steel 3,711 9 Steel 8,041 19 Emaille 1,500 4 Alloy 30,669 79 FOAMS & RUBBER Ethylene-vinyl acetat foam 258 1 Polyurethane foam 34,399 192 Thermoplastic rubber (TRP) 0 Other rubber 172,828 966 OTHER MATERIALS AND SUBSTANCES Acetat 327 6 Glue 114,445 572 Paraffine 9,6256 6 Silicone 16 0 Vinylon F 106,121 2,167 Other materials and substances 128 0 Total 1,524,586 1,207,502 1,132,644 58,637 N7 RAW MATERIAL INFLOW (CONTINUED) * <1t shown as 0 Waste composition Waste generated (t) Waste diverted from disposal Waste directed to disposal Percentage of non-recycled waste Batteries 1 1 0 1 % Biodegradable waste 48 48 0 1 % Chemicals (hazardous) 1 0 1 96 % Chemicals (non-hazardous) 0 0 0 100 % Electronic Waste 1 1 0 11 % Empty chemicals and containers 0 0 0 100 % Fluorescent lightbulbs 0 0 0 100 % Glass 1 0 0 36 % Metal 10 6 4 38 % Mixed commercial waste 179 109 71 39 % Other 51 15 36 71 % Paper and Cardboard 406 397 9 2 % Plastic 40 37 3 8 % Residual waste 181 2 179 99 % Wood 25 15 10 39 % Total 944 632 314 33 % N8 WASTE BY COMPOSITION, IN METRIC TONNE (INCL. DEVOLD) 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 table but considered for GHG accounting. Displayed diversion and disposal values may not add up to total waste generated due to rounding. ===== SIDA 44 ===== 44 CSR 2025 FENIX OUTDOOR INTERNATIONAL AG 2. NATURE, PAGE 08–17 KPI 2023 2024 2025 CO2e (t)* 2 2.24 2.72 kWh 9,340 10,200 9,789 Travel (km)*** 1,840 1,041 428 Paper (kg)** 11 5 5 H2O (m3) 21 60 34 Number of employees 2,972 2,790 3,021 N10 FOOTPRINT PER FTE * includes emisisons from Scope 1 and 2, commuting and business travel ** as repor ted "consumded" for office purposes *** excl. Commutes Modality Inbound transport 2023 t CO2e 2024 t CO2e 2025 t CO2e Truck 1,559 1,371 707 Sea (after deduction of SMFB certificates) 619 46 537 Air (w/o RFI 2.7) 509 1,132 1,723 Air (with RFI 2.7) 1,374 3,056 4,652 Rail 232 30 23 Barge 0 0 3 N9 BREAKDOWN TRANSPORT EMISSIONS N11 RENEWABLE ELECTRICITY – MARKET INSTRUMENT MIX 2020 2021 2022 2023 2024 20252019 REGO (MWh) RECs (MWh) Polish GO (MWh) I-REC ex. Domain (MWh) I-REC (MWh) GOs (MWh) Contract (MWh) GOLIK (MWh) GECs (MWh) 0 5,000 10,000 15,000 20,000 25,000 ===== SIDA 45 ===== CSR 2025 FENIX OUTDOOR INTERNATIONAL AG 45 3. ECONOMY, PAGE 18–23Case Description Action Closed/ Pending Administrative Offence Violation of German NSG-VO Payment of fine (500 EUR) Closed Chemicals Chemical Test fails (in conjunction with Cal. Prop65) 4x; 37x violation of Fenix Outdoor guideline (beyond legal) Suppliers contacted, corrective action demanded; Cal Pro65 labelling triggered Closed CoC violation Request for CoC exemptions Risk Analysis conducted: Exemptions approved Closed Conflict of Interest Conflict of interest/nepotism Analysis conducted; CoI risk identified; change of reporting line, change in responsibilities Closed Conflict of Interest Question regarding possible conflict of interest Analysis conducted; CoI risk identified; follow-up on-going Pending Discrimination Website accessibility (ADA)/state laws Two casse of website accesibility (USA); settlement Closed Discrimiantion California Privacy Act One case in US eCom ; settlement Closed Discrimination 17 Employee complaints Employees complaint about not following the Fenix Way and lack of communication; Mitigation by responsible manager  initiated Closed Fraud & Theft Company theft and fraud in the Nordics Police investigation, dismisal of employees after theft detection Closed GDPR Phishing attacks Mitigation; e-mail addresses leaked -> mitigation aproved by Legal and DPO; reported to authorities as appropritate Closed Harrassment Harrasssment in-stores HR involved; case resolved Closed HinSchG Complaint about not following HinSchG in Fenix Outdoor Legal check: unjustified claim - responded to complaining party Closed IP Rights Complaint: possible trademark infringement of brands, sold in our retail stores Removal of possible trademark infringements from websites and marketing materials; fine paid when reaction was not fast enough Closed IP Rights Counterfeit/ copy of Fenix Outdoor product Settlement pending (products removed from market) Pending Copyright violation Unauthorized use of music clips Rectified; fee paid Closed Labelling Product labellings Recitified; settlement Closed E1 COMPLIANCE CASES 2025 In 2025, 411 individuals received an anti-corruption e-learning course; 125 individuals participated in an in-person training and a number of individuals took part on-line (the figure for this could not be established). ===== SIDA 46 ===== 46 CSR 2025 FENIX OUTDOOR INTERNATIONAL AG 3. ECONOMY, PAGE 18–23 Total tax Norway Sweden Germany Netherlands USA Finland Denmark Switzerland Other EUR −16,686,477 −1,041,425 −6,260,651 −3,237,536 −321,743 −3,041,975 −438,694 −1,133,522 −273,313 −937,618 3000 Net sales, external * 698,645,469 27,730,112 9,108,035 284,282 29,726,493 7,044,697 29,356,136 6,568,438 14,265,202 3010 Net sales, internal * 5,312,783 4,939,778 1,448,551 774,278 3,993,322 18,434,718 4,633,085 3011 Marketing discount, Internal (negative) * –1 –80 830 3500 Invoiced expenses * 1,282,106 18,452 2 1,056 64,467 17,300 37,443 3550 Samples, internal * –1 36,552 79,581 31,575 9305 Total Net sales * 705,240,356 32,724,894 1,448,553 9,882,313 4,358,241 48,225,678 11,645,827 29,356,136 6,605,881 14,265,202 8910 Current tax on profits for the year –15,335,732 –40,087 –316,253 –92,676 –429,265 –46,459 50,872 8940 Deferred tax –22,450 -1 594 518 8941 Deferred tax (IFRS16) 59,612 652 –5,179 47 –43,333 –2,000 8920 Adjustment for current tax of prior periods –394,418 –7,618 –208,856 15,735 60,505 8980 Other taxes –993,489 -161 782 9460 Total tax –16,686,477 652 –40,087 –321,432 –92,676 –1,756,300 –436,836 –252,189 –30,724 109,377 Deferred tax 37,162 –379,533 2,641,478 –41,874 848,762 –2,485,835 –1,811 –43,516 1,686 –502,195 EUR –16,723,639 –661,892 –8,902,129 –3,195,662 –1,170,505 –556,140 –436,883 –1,090,006 –274,999 –435,423 Of Total tax 100 % 4 % 53.2 % 19.1 % 7 % 3.3 % 2.6 % 6.5 % 1.6 % 2.6 % E2 TAXES PER COUNTRY ===== SIDA 47 ===== CSR 2025 FENIX OUTDOOR INTERNATIONAL AG 47 S1 NUMBER OF HUMAN RIGHTS AND ENVIRONMENTAL BRAND AUDITS (HREDD) Audit Grade Tier 1 suppliers Tier 2 suppliers Tier 3 & 4-suppliers Summary in percentage A 14 5 0 21% B 37 6 2 49% C 19 6 1 28% D 0 1 1 2% In total 70 18 4 92 Year Audit coverage 2023 45% 2024 53% 2025 46% S2 AUDIT COVERAGE BRAND TIER 1-SUPPLIERS PER YEAR Tier 1 & 2 level Only Tier 1 level Production countries (not displaying all production countries, only audit-related) Country risk score according to LRQA's EiQ (Risk key: extreme, high, medium, low) Disclosure of geographies for which there is significant risk of child labour, or of forced or compul- sory labour (accord- ing to LRQA EiQ), among workers in undertaking’s value chain. Number of received HREDD assessments (vSLCP & audits) in production countries Number of detected forced labor Number of received HREDD assessments (vSLCP & audits) in production countries Number of Tier 1 factories Main Tier 1 production countries with highest purchase volume marked with “x” No. of Tier 1 facilities classified as high-risk according to internal ESG risk analysis China High Child labor; Forced labor 28 0 1 47 x 3 Czech Republic Medium - 1 0 0 1 0 Germany Low - 1 0 0 5 0 Indonesia High Child labor 3 0 0 4 x 0 Lithuania Medium - 3 0 0 5 x 0 Mexico High Forced labor 3 0 0 2 0 Philippines High Child labor, Forced labor 1 0 0 2 0 Portugal Medium - 1 0 0 8 0 Serbia Medium Forced labor 1 0 0 3 x 0 South Korea (only Tier 2  audited) Medium Forced labor 4 0 0 0 0 Sweden Low - 1 0 0 4 0 Taiwan Medium Child labor, Forced labor 5 2 0 2 0 USA Medium - 1 0 0 0 0 Vietnam High Child labor, Forced labor 39 0 0 41 x 5 S3 HREDD RISK ANALYSIS OF FENIX OUTDOOR BRANDS PRODUCTION COUNTRIES (MAIN FOCUS: TIER 1 SUPPLIERS) 4. SOCIETY, PAGE 24–31 ===== SIDA 48 ===== 48 CSR 2025 FENIX OUTDOOR INTERNATIONAL AG Asessment Topic Zero Tolerence Critcal Major Moderate Minor Total Share 1. Transparency & Business Integrity 1 <1% 2. Management System 92 28 17% 3. Hiring, Disciplinary & Termination 7 9 2 2% 4. Young Worker & Child Labor 1 <1% 5. Forced Labor 2 <1% 6. Harassment & Abuse 0% 7. Discrimination 2 <1% 8. Freedom of Association & Grievance 13 6 7 4% 9. Wages & Benefits 32 21 1 7% 10. Hours of Work 22 28 33 11% 11. Health & Safety 2 150 198 37 53% 12. Environment 26 2 4% 13. Subcontracting 3 1 <1% Total share 0% 1% 35% 49% 15% S4 OVERVIEW OF NUMBER OF FINDINGS PER ASSESSMENT TOPIC AND SEVERANCE LEVEL Production country Number of wage data sets collected Average minimum wage of factories (local currency) Average net living wage estimate GLWC or Wage Indicator (local currency) Average net wage of evaluated data sets (local currency) Average living wage gap Number of factories above the living wage estimate Vietnam 7 4,194,286 7,041,478 5,953,387 –15.45% 1 European countries 3 N/A N/A N/A 13.65% 3 Other Asian countries 6 N/A N/A N/A –8.82% 3 Tier Number of Audits Number of Findings Share of Fully Remediated* Findings Number of Major Findings Share of Fully Remediated* Major Findings 1 70 473 41.9% 181 38.7% 2-4 22 209 59.3% 70 52.9% Total all Tiers 92 682 47.2% 251 42.6% Year 2023 2024 2025 Average score of sustainabilty criteria 34.86% 40.47% 44.47% Total number of created scorecards factory 127 132 113 S5 WAGE DATA COLLECTION AND EVALUATION S-7 REMEDIATION STATUS OF 2025 AUDIT FINDINGS S6 STATUS OF TIER 1 SUPPLIER FACTORY SCORECARDS REGARDING SUSTAINABILITY CRITERIA 4. SOCIETY, PAGE 24–31 *A finding is considered “fully remediated” once all corrective actions have been implemented and verified through our internal staff. ===== SIDA 49 ===== CSR 2025 FENIX OUTDOOR INTERNATIONAL AG 49 Survey Response* Percentage of Suppliers Reported Grievances in  Facilities Yes 20.8% No 70.8% N/A 8.3% Supplier Offers Internal Trainings on  Grievance  Mechanisms Yes 81.7% No 8.3% N/A 10.0% Methods Used to Me asure Training  Effectiveness Surveys 16.4% Quizzes 24.0% Interviews 19.9% Other methods 26.0% Not measured 13.7% Methods for Informing New Workers about  Grievance Mechanisms Trainings 73.0% Notice Boards 11.0% Other methods 16.0% Country Total Employees Male Employees Female Employees Foreign Migrant Workers Domestic Migrant Workers Juvenile Workers China 7,541 33% 67% 0% 12% 0% Czech Republic 22 41% 59% 0% 0% 0% Germany 63 60% 40% 17% 0% 0% Indonesia 4,604 17% 83% 0% 0% 0% Lithuania 188 10% 90% 4% 0% 0% Mexico 2,121 46% 54% 0% 0% 0% Philippines 373 76% 24% 0% 0% 0% Serbia 124 13% 87% 0% 0% 0% South Korea 154 68% 32% 4% 0% 0% Sweden 76 55% 45% 0% 0% 0% Taiwan 390 67% 33% 55% 0% 0% Vietnam 24,742 23% 77% 0% 23% <1% S9 WORKFORCE COMPOSITION AND VULNERABLE GROUPS TIER 1 SUPPLIERS S8 MONITORING AND IMPLEMENTATION OF GRIEVANCE MECHANISMS IN SUPPLY CHAIN FACTORIES ( RESULTS OF THE ANNUAL SUPPLIER SURVEY) 4. SOCIETY, PAGE 24–31 * Multiple responses were possible. ===== SIDA 50 ===== 50 CSR 2025 FENIX OUTDOOR INTERNATIONAL AG 2025 2024 Number of employees (FTE) Of whom men Of whom women Number of employees (FTE) Of whom men Of whom women Sweden 500 192 308 496 206 290 Norway 125 46 79 66 30 36 Denmark 111 63 48 110 61 49 Finland 156 57 99 153 60 93 Germany 1,042 593 449 1,099 619 480 Austria 5 3 2 5 3 2 Holland 66 39 27 91 53 38 England 43 27 16 43 29 14 Switzerland 14 5 9 15 6 9 Hungary 65 11 54 70 12 58 Americas 395 196 199 430 221 209 China 25 10 15 25 10 15 Other countries 474 109 365 187 84 103 Total, Group 3,021 1,351 1,670 2,790 1,394 1,396 2025 (based on headcount) Country Gender Permanent employees Temporary employees Hourly paid employees number % number % number % Germany Female 501 37.0% 115 9.0% 0 0% Male 613 45.0% 121 9.0% 0 0% Sweden Female 350 49.0% n/a n/a 67 9% Male 238 34.0% n/a n/a 53 7% Finland Female 125 54.8% 20 8.8% n/a n/a Male 78 34.2% 5 2.2% n/a n/a Denmark Female 114 44.7% 7 2.8% n/a n/a Male 125 49.0% 9 3.5% n/a n/a Norway Female 138 51.1% n/a n/a 48 17.8% Male 48 17.8% n/a n/a 36 13.3% Netherlands Female 32 37.7% n/a n/a n/a n/a Male 53 62.4% n/a n/a n/a n/a Switzerland Female 3 42.9% 0 0.0% 0 0% Male 4 57.1% 0 0.0% 0 0% Hungary Female 69 82.1% 0 0.0% 0 0% Male 15 17.9% 0 0.0% 0 0% China (JV) Female 243 86.8% 0 0.0% 0 0% Male 37 13.2% 0 0.0% 0 0% Asia (other) Female 102 56.0% 6 3.3% 0 0% Male 68 37.4% 6 3.3% 0 0% USA/Canada* Female 126 31.9% 4 1.0% 65 16.5% Male 140 35.4% 0 3.0% 60 15.2% W-1 TOTAL NUMBER OF EMPLOYEES IN FTE W-2 WORKFORCE BY EMPLOYMENT TYPE 5. WELL-BEING, PAGE 32–37 * = one non-binary employee included ===== SIDA 51 ===== CSR 2025 FENIX OUTDOOR INTERNATIONAL AG 51 W-2 WORKFORCE FENIX OUTDOOR GROUP Europe Asia North America Female Male Female Male Female Male Nonbinary Executive Team Under 30 years 0 0 0 0 0 0 0 30 to 50 years 1 3 0 0 0 0 0 Over 50 years 0 2 0 0 0 1 0 Top Management Under 30 years 0 0 0 0 0 0 0 30 to 50 years 6 15 6 3 7 2 0 Over 50 years 4 19 0 5 5 3 0 Backoffice Employees (stores and offices) Under 30 years 487 391 55 9 82 70 4 30 to 50 years 723 622 278 90 60 88 1 Over 50 years 294 305 10 6 13 18 0 Production and Warehouse Workers Under 30 years 37 15 n/a n/a 2 1 0 30 to 50 years 162 24 n/a n/a 9 16 0 Over 50 years 228 16 n/a n/a 7 8 0 W-3 WORKFORCE SEGMENTATION (BASED ON HEADCOUNT) 5. WELL-BEING, PAGE 32–37 2024 Country Gender Permanent employees Temporary employees Hourly paid employees number % number % number % Germany Female 457 36.0% 105 8.3% 0 0% Male 569 44.8% 139 10.9% 0 0% Sweden Female 374 49.2% 51 6.7% 179 24% Male 292 38.4% 43 5.7% 142 19% Finland Female 128 57.4% 15 6.7% 116 52.0% Male 77 34.5% 3 1.3% 54 24.2% Denmark Female 106 35.7% 12 4.0% 90 30.3% Male 160 53.9% 19 6.4% 126 42.4% Norway Female 51 52.0% 8 8.2% 41 42% Male 33 33.7% 6 6.1% 24 24% Netherlands Female 21 37.5% 1 1.8% 0 0% Male 34 60.7% 0 0.0% 0 0% Switzerland Female 9 90.0% 0 0.0% 0 0% Male 3 30.0% 0 0.0% 0 0% Hungary Female 57 100.0% 0 0.0% 0 0% Male 11 100.0% 0 0.0% 0 0% China (JV) Female 0 0.0% 186 100.0% 0 0% Male 0 0.0% 27 100.0% 0 0% Asia (other) Female 59 51.8% 55 48.2% 0 0% Male 53 60.0% 36 40.0% 0 0% USA/Canada Female 194 90.7% 10 4.7% 10 4.7% Male 217 93.9% 7 3.0% 7 3% ===== SIDA 52 ===== 52 CSR 2025 FENIX OUTDOOR INTERNATIONAL AG Total result Categories Number of work-related injuries Injuries during work / office hours 238 Injury Rate 3.54 High consequence work-related injuries (excluding fatalities) 0 Work-related fatalities 0 Lost days because of injuries and occupational diseases 309 Category Male hrs/year/person Female hrs/year/person Nonbinary hrs/year/person Warehouse and Production Workers 16 16 0 Back Office (stores and offices) 42.5 42.5 41.5 Senior Management 21 21 0 Executive Management 5 0 0 W-4 KEY WORKPLACE SAFETY STATISTICS W-5 TOTAL HOURS OF TRAINING PER EMPLOYEE The nature of work, executed in our own  operations are: • office work • warehouse work • store sales and restocking • own production of shoes The majority of incidents happen: • on the way to/from work • warehouse • office Global average: 36.79 hours Total hours invested: 113,750 **** = at least minimum wage level where applicable; generally above minimum = > 1 Local entry wage levels compared to minimum wages by gender**** (internal/external) Gender Male Female Other Level 1 1 0 W-6 VARIOUS KPIS RELATED TO ESRS S1 * = reported, based on headcount; data set incomplete Category Number of employees Flexible working hours 1,372* Job-share 0 Sabbatical 0 Telecommuting 800 Trust-based working hours 450 One day home office 1,372 W-7 WORKING HOURS AND FLEXIBILITY 5. WELL-BEING, PAGE 32–37 Workforce covered by Collective Bargaining Agreements Region Europe Asia Americas Percent 95.60% 2.4% 0% *** = includes Devold employees but they were not asked to sign in 2025, thus, signature rate is 99.5% without Devold. Signed Code of Conduct by Employees Goal 100% 2025 88.7%*** ===== SIDA 53 ===== CSR 2025 FENIX OUTDOOR INTERNATIONAL AG 53 * The Gender Pay Gap represents a blurred picture because we did not calculate/extrapolate part-time employees (mainly female) to a full- time position. If we did so, the pay gap would be significantly lower in all countries but still measurable for the age groups 30 to 50; for age groups < 30 and > 50 no significant difference can be measured. ** not calcualted in 2025 Country Gender Pay Gap* Annual Total Rem. Ratio 2024** Ratio highest vs lowest income Percentage of employees that earn below the applicable adequate wage benchmark (%) EUROPE Germany 17.0% 7.9 11.1 0 Sweden 24.0% 8.7 26.7 0 Denmark –1.5% 3.9 5.2 0 Norway 23.5% 2.3 5.1 0 Netherlands 8.8% 4.3 5.4 0 Switzerland n/a 1.2 1.3 0 ASIA all countries 23.4% n/a 1.3 0 AMERICAS all countries 28.9% 30.44 8.4 0 W-8 PAYMENT RATIOS: GENDER PAY GAP AND HIGHEST PAID INDIVIDUAL / LOWEST PAID INDIVIDUAL 5. WELL-BEING, PAGE 32–37 2025 Gross salary Benefits and other remunerations Pension contributions Total Executive chairman, Martin Nordin 747 37 18 803 President, Alexander Koska 448 53 0 501 Other Senior Executives and Susanne Nordin 1,974 130 798 2,902 Total 3,169 233 816 4,219 NOTE 5 ANNUAL REPORT 2025 ===== SIDA 54 ===== 54 CSR 2025 FENIX OUTDOOR INTERNATIONAL AG W-9 COMPENSATION REPORT SUMMARY COMPENSATION BOARD OF DIRECTORS 2025 TEUR (audited) Base salary Benefits and other remu- neration Consultant fee Pension contributions Social costs Variable compensation related to and accrued in 2024, incl. soc. cost Total Total in TCHF EUR/CHF 0,9366 Martin Nordin, Executive Chairman 747 37 - 18 65 - 868 813 Susanne Nordin 218 13 - - 28 - 258 242 Ulf Gustafsson - 27 56 - - - 83 78 Mats Olsson - 27 - - - - 27 25 Sebastian Von Wallwitz - 27 - - - - 27 25 Rolf Schmid 27 64 - - - 90 85 Total 965 158 120 18 93 - 1,353 1,267 Total fixed compensation 965 158 120 18 93 - 1,353 1,267 COMPENSATION BOARD OF DIRECTORS 2024 TEUR (audited) Benefits and other remu- neration Consultant fee Pension contributions Social costs Variable compensation related to and accrued in 2023, incl. soc. cost Total Total in TCHF EUR/CHF 0,9531729 Martin Nordin, Executive Chairman 734 37 - 18 66 - 855 815 Susanne Nordin 204 13 - - 27 - 244 232 Ulf Gustafsson - 28 54 - - - 82 78 Mats Olsson - 28 - - - - 28 27 Sebastian Von Wallwitz - 28 - - - - 28 27 Rolf Schmid - 28 63 - - - 91 87 Total 938 162 117 18 93 - 1,328 1,266 Total fixed compensation 938 162 117 18 93 - 1,328 1,266 COMPENSATION BOARD SENIOR EXECUTIVES 2025 TEUR (audited) Base salary Benefits and other remuneration Pension contributions Social costs Variable compensation related to and accrued in 2024, incl. soc. cost Total Total in TCHF EUR/CHF 0,9711551 Total in TCHF EUR/CHF 0,9711551 President 448 66 - - 21 535 501 570 Senior Executives 1,756 117 395 491 721 3,479 3,259 2,583 Total 2,204 183 395 491 742 4,015 3,760 3,153 Total fixed compensation 2,204 183 395 491 742 3,273 3,065 2,863 COMPENSATION BOARD SENIOR EXECUTIVES 2024 TEUR (audited) Base salary Benefits and other remuneration Pension contributions Social costs Variable compensation related to and accrued in 2024, incl. soc. cost Total Total in TCHF EUR/CHF 0,9711551 Total in TCHF EUR/CHF 0,9711551 President 441 65 - - 92 598 570 817 Senior Executives 1,654 65 378 401 212 2,710 2,583 2,978 Total 2,095 130 378 401 304 3,308 3,153 3,795 Total fixed compensation 2,095 130 378 401 - 3,004 2,863 2,452 ===== SIDA 55 ===== ===== SIDA 56 ===== 56 CSR 2025 FENIX OUTDOOR INTERNATIONAL AG 7. About the Report (ESRS 2) 7.1 GENERAL Fenix Outdoor is pleased to present its 2025 Sustainability Report. We always strive to engage our stakeholders and want to uphold our commitment to transparency and corporate responsibility. Our sustainability reporting takes place on an annual basis. This report has been prepared in accordance with the Corporate Sustainability Reporting Directive (CSRD) to provide a comprehensive overview of our organization’s environmental, social and governance (ESG) per- formance. The report aims to ensure transparency, accountability and compliance with the European Union's sustainability disclosure requirements. Through this document, we seek to offer stakeholders – investors, customers, employees, regulators and the broader com- munity – insights into our sustainability initiatives, impacts and strategic commitments. This report has not been yet verified but will be spot-checked during 2026. 7.2 SCOPE AND BOUNDARIES The scope of this report covers the financial year 2025 and includes all relevant business units, subsidiaries and operational sites where we have significant control or influence. The report provides both qualitative and quantitative data on key ESG factors, assessed against applicable regulatory frameworks, international standards and our internal sustainability goals. In part, we also include the information from our joint venture in China. 7.3 REGULATORY AND REPORTING FRAMEWORKS This report aligns with the CSRD, incorporating the European Sus- tainability Reporting Standards (ESRS) as prescribed by the Euro- pean Financial Reporting Advisory Group (EFRAG). Additionally, we have referenced other globally recognized frameworks, including: Global Reporting Initiative (GRI) United Nations Sustainable Development Goals (UN SDGs) OECD Guidelines for Multinational Enterprises. Our disclosures are designed to ensure compliance with double materiality principles, addressing both financial and impact materiality. This report aims to fulfill the Global Reporting Initiative (GRI) standards and the principles of the UN Global Compact. We also aligned our reporting according to Swiss Ordinance 964a through 964c. The Content Index lists the indicators as defined by the ESRS that have been applied. Material topics addressed were raised in Fenix Outdoor’s Materiality Matrix 2024 and reassessed in 2025. In light of the ESRS requirements, we streamlined it to be compliant with respect to the double materiality requirements. The respective indices are easy to find with page references, and there are further comments for those who need any clarifications. The previous Sustainability Report was published in April 2025, and we will continue to publish on an annual basis for the foreseeable future. 7.4 METHODOLOGICAL INFORMATION The reporting period is the business year 2025. The report also discloses information on key events and data from previous years for comparison. If at the time of publication the final figures of 2025 were not yet available, comparable annual figures for 2024 or a com- parable time range of 12 months (e.g., October 2024 to October 2025) have been used as the basis for calculation. Certain datasets are constantly used with a year’s delay (e.g., water and heating figures for stores in Germany). These are marked accordingly in the report or further described in the section about the methodologies used for environmental data. As some data are location- and market-specific but have been summed up, the indication of data not correspond- ing with the actual business year is not possible. Some data only refer to a portion of the business year since the location was not in oper- ation for a full 12-month period. Where no specification for elec- tricity consumption data was available, a company-specific average was used for estimates or the data from the year before. However, the most recent conversion factors are used. In contrast to the annual report, the CSR Report also includes data from Chinese locations (JV). Data from suppliers are integrated, as far as available. Subsequently, personnel datasets are also to some degree on a different basis than in the annual report. Relevant CO 2e emissions from some exclusive suppliers have been included in the offsetting data. Gas consumption data for 2025 for Hanwag (Germany) are based on the period from May 2024 to April 2025. Some emission factors were calculated internally. Some data have been extrapolated, and estimates are based on a conser- vative behavioral assumption (e.g., per-capita data from statistical handbooks for the respective region or country). Hence, some data are likely to be over-statements. The reporting entities cover more than 99% of the corporate value generation and 99% of the Group’s employees. However, where needed, calculation and extrapolation of data was done, in order to give a fair and realistic picture and to rep- resent the aforementioned coverage. In most instances we used the overall FTE average given in the annual report; for some data (e.g., water consumption and emission from travel or staff training hours) FTE data is not suitable; there- fore, we used headcounts or internal survey results. Where other bases for calculations are used, this is stated separately (e.g., n = x, where x is the reference group size). We define full-time equiva- lents (FTE) on the basis of a working week of 40 hours. To establish the number of working hours we calculate an eight-hour day on 220 days per year as working days. Around 75% of the non-financial data is checked internally, and all financial data is checked externally, giving a reasonable yet still not fully satisfactory level of confidence for all information provided in this report. Transportation figures and CO 2e emission data were supplied by travel agencies, shipping companies and external service providers, ===== SIDA 57 ===== CSR 2025 FENIX OUTDOOR INTERNATIONAL AG 57 as well as suppliers. They therefore constitute a reasonable overview of Scope 1, 2, and 3 emission data. We have adjusted the data using the RFI factor of 2.7 for certain datasets as stated. In this report we have fully relied on the accuracy of the sources’ data collection and checked only for the data’s plausibility. In the United States, Sweden, the Netherlands and Germany we relied increasingly on our own datasets, which are available through our IT system. The calculation of emission data was based on the Greenhouse Gas Protocol wher- ever possible. The fleet information was provided by shipping com- panies and internal sources. In some cases, assumptions were made based on the fuel consumption of certain locations. Data on busi- ness travel and commutes were calculated on available information within the Group and provided by individual staff members and carriers. Other bases of calculation are stated separately. Data for economic factors and personnel information cover all the Group’s consolidated companies. Where appropriate the figures for the Joint Venture are also reflected as much as data is available. If not listed in full-time equivalent (FTE) numbers, details concerning employee structure are based on numbers of employees. Both refer to the cutoff of data (December 31, 2025) unless otherwise indicated. Capture efficiency is more than 90%. However, data on seasonal staff and interns is only available on an over- view list, so no analysis of this staff group was possible. 7.4.1 Methodology on Environmental KPIs CSR Report 2025 The following is a description and a more in-depth explanation of the methodologies we applied for the 2025 CSR Report of Fenix Outdoor International AG. We will focus on specific environmental- and emissions-related information but also explain other aspects as we deem necessary. It describes the methodology we used for 2025 as a target year for our expiring sustainability strategy 2019-2025. Scope and Boundaries The Joint Venture in China is part of our global groupwide sustain- ability and GHG data. The acquistion of Devold triggered a re-base- lining. We did so for those Scopes and categories, where data was available (indicated in inventory). However, 2025 data fully includes Devold's operations. Viomoda and Tova are accounted for as invest- ments in relation to the ownership share. Data Collection and extrapolation Data is collected via our newly implemented web-based sustainabil- ity reporting tools Novisto and Minimum. For 2025, we used our previous methodology to show progress on attainments as well as the new methodology that comes with Minimum and with 2025 as a new baseline for the upcoming sustainability cadence 2026-2030. Data gaps are filled by the following hierarchy: • D ata owners/providers fill data gaps with average data based on the specific data set they are responsible for (e.g., stores and average kWh/m2) • M issing data sets from locations/entities are filled by the person responsible for environmental accounting based on comparable locations/entities for which the first-year data is missing • M issing data for consecutive years is taken from prior years. Emission factors used • M ain emission factor sources are: o A IB and CaDI databases for electricity o D EFRA for biogenic carbon, gas and district heating if local emission factors are not available o D EFRA for Scope 3 emissions except transportation and raw materials o E coTransit for transportation routes that are not covered by the shipping companies o M SI database for raw materials if fabric specific informa - tion is not available o F rilufts Retail assortment-related emission factors as well as emission factors for end-of-life treatment are derived from an internal study conducted by MyClimate. Scope 1 and 2 emissions Primary energy for Globetrotter in 2025 is based on 2024 invoices. Missing data sets were filled with prior data for Friluftsland in Den- mark, and Globetrotter in Germany. Prior numbers have also been used as estimates for gas consumption for our German sales offices. District heating data from Globetrotter is always based on the year before except for one location. For Naturkompaniet, Partioaitta and brand stores, data is partially estimated based on m 2. Emission fac- tors have not been updated over the years. Missing emission factors have been filled up with DEFRA emission factors for heat. Renewable energy accounting methodology changed for renew- able energy purchase. Before 2022, life-cycle emissions from renew- able energy consumption were accounted for in Scope 2. From 2022 onward, LC emissions are accounted for in Scope 3, category Fuel- and Energy-Related Activities Not Included in Scope 1 or Scope 2. For target tracking this was adjusted for all years back to 2019 but is not corrected in the past CSR Reports. Franchise stores (currently one store) are included in Scope 1 and 2 emissions due to our internal accounting system. Partner stores in Asia, South America and Europe are run by local distributors and therefore out of our control and out of scope. Other GHGs (CH 4 and N2O) from electricity consumption are cal- culated explicitly for the first time in 2023 for past years up to 2019 based on DEFRA emission factors for the respective years. Emission factors used to calculate emissions from gas and district heating have been based on CO 2e. For electricity, we assume that provided emission factors are only based on CO2, so we added the CO2e from CH4 and N2O to get CO2e from electricity. Renewable electricity is accounted for as zero for all three GHGs (CO2, CH4 and N2O). CO2 emissions Outside of Scopes from bioenergy are calculated for biogas usage and based on DEFRA emission factors. CO2e emis- sions from biogas stem from CH4 and N2O, which are not absorbed during growth (unlike CO2). Scope 3 emissions Category 1: Purchased goods and services Supply chain emissions resulting from energy consumption while manufacturing our products are collected through an annual supply chain survey at the beginning of the year from all known suppliers (all tiers) as well as from completed FEM/vFEM for the past year. For calculations, only data from Tier 1 and vertical suppliers is used. Actual data is extrapolated to the total of all Tier 1 suppliers. How- ever, emissions vary depending on the subset of suppliers taking part in the survey. Number of suppliers is based on data received for the calendar year 2025 (cutoff December 31, 2025). Emissions from raw materials are calculated with the Higg MSI and with specific LCA data. In case a material is from recycled or more sustainable resources but not certified by a third-party stan- dard, (GRS, OCS), conventional emission factors have been used. Material consumption from Hanwag excludes material usage for direct-on products. Trims data from Devold is are missing. Emission factors for silica gel and paraffin changed and were adopted for past years to ensure comparability. Marketing materials have been collected by each entity. For ===== SIDA 58 ===== 58 CSR 2025 FENIX OUTDOOR INTERNATIONAL AG Globetrotter, marketing materials that have been produced by the big stores (seven in total) have been calculated based on one store. For Friluftsland, where the methodology and emission factors are similar to our own, we have used reported emissions from material suppliers. Latest packaging data from Almere is from 2021 and has been adjusted for 2025 to reflect the decrease in operations based on out- going parcels. However, the figures must be taken with caution. Data does not include transport carton packaging from any of the brands but is reflected in the waste emissions. Activity data for toner/ink as part of office supply is available, but due to missing emission factors we did not calculate them in our reporting scope (<1% of weight of all reported office supply). To calculate our events’ emissions, we used the MyClimate Online Event Calculator. However, many of the requested parameters (e.g., heated or cooled space, amount of mineral water, etc.) do not apply for an outdoor event entirely. 2024 data was not available for the Globetrotter Testival events, so 2023 numbers were used. For 2025, actual data has been obtained again. For the second year we included website sessions and purchased goods in the Frilufts Retail assortment (excluding Fenix Outdoor Brands) in the inventory as well as emissions from using IT ser- vices. Due to lack of data, there is no baseline calculation, but all val- ues are listed in addition to our GHG inventory for the available years. Website emissions have been calculated based on our site vis- its and emissions per site figure taken from the online tool website- carbon.com. Assortment emissions have been calculated based on an average emission factor per product category derived from a proj- ect with MyClimate. During the project, a methodology was devel- oped to calculate Globetrotter’s Scope 3 emissions from the assort- ment. Emissions from cloud services have been received from the service provider. Category 2: Capital Goods Capital goods have been calculated for the first time for 2024 for Globetrotter. For 2025 we also included Hanwag and Fenix Outdoor IT purchases for Europe. Category 3: Fuel- and Energy-Related Activities Not Included in Scope 1 or Scope 2 This category covers LCA emissions from renewables and gas consumption. In the future LCA emissions from renewables will move to Category 1 but will be kept in this category for 2025 to ensure comparability. Categories 4 and 9: Upstream and downstream transport and distribution Inbound and outbound transportation CO 2e emissions have been calculated and determined as per the latest GLEC-framework (v3.1). Standard emission factors have been used for all modalities for inbound and outbound freight unless specified by the transport part- ner and according to our chosen framework. 100% of our transpor- tation partners delivered data. The GLEC framework itself lists numerous shortcomings for the emission factors per modality type. Please refer to the actual frame- work at: https://www.smartfreightcentre.org/en/our-programs/ global-logistics-emissions-council/calculate-report-glec-framework/ The GLEC framework currently does not provide CO2 or other emissions for parcel transport/deliveries. Therefore, emission fac- tors as they have been provided by the parcel carriers themselves have been used, also when these were not calculated according to the GLEC methodology for parcel distribution. Emission factors other than CO2 for road palletized distribution have been derived based on the top three distances by total CO2 per mode of transport with the help of EcoTransit if these emissions were not provided by the transport partner. In 2022 we calculated other emissions than CO 2e for the first time on our own in case they were not reported by service providers. This explains the deviation from prior reporting years. Well-to-wheel emission factors have been used for all modalities. Shortest Feasible Distance (SFD) distances have been assumed for all movements in case distance wasn't provided by the transport part- ner. In case there are a multitude of destinations within one delivery country but all for the same brand, the distance has been determined based on the average distance to destinations that, together, repre- sent at least 80% of the total moved weight. Only the emissions have been reported for transportation where Fenix Outdoor was responsible according to the INCOTERM 2020 applicable for each transport (Inbound: EXW , FCA and FOB, Out- bound: DAP , DPU and DDP). For containers and airfreight transport, year 2025 has been defined based on the arrival date (so it could have departed in, for example, November 2024). For outbound transport data, if known, the loading or “ship” date has been used to determine the year. If a shipment departed a Fenix entity in 2025, it has been considered as in scope for 2025 reporting, also when the goods arrived at the final destination in 2026. In terms of the allocation of emissions to the different brands in the Fenix Outdoor group, in case it could not be derived from the data itself, transportation emissions have been allocated to each brand, relative to the number of shipments. Primus transport data was considered for all shipments during the months of January to April 2023. In 2024, the divestment from Primus was complete and no transport was recorded. For the first time we included outbound transportation movements from our Swiss company Bus Sport as well as for care products from Hanwag. In terms of completeness, transport between sites for Hanwag and warranty/resoling cases that were conducted in Vierkirchen and get sent out via parcel had not been captured, these emissions are now included. For 2023 we only reported from production site to DC and from DC to customer. These emissions make up approximately 86 metric tons of CO 2e for just under 26,000 parcels (based on 2024 data). In 2024 we trialed the purchase and use of biofuels in our inbound transportation movements for the first time. All biofuels supplied are compliant with the sustainability criteria listed in article 29 of RED II and its amendments from RED III and certified under an EU RED approved voluntary scheme such as ISCC, RSB or REDCert. Biofuel suppliers are also certified under one of these schemes. For electric drayage, we replaced the default data (assuming die- sel) from Flexport with primary data from the forwarder to deter- mine the savings. Downstream emissions have been allocated for e-com shipments to the respective business units based on share of shipments that were paid by the end-customer since primary shipping data could not be allocated accordingly Category 5: Waste generation and water withdrawal Waste generation from Partioaitta was based on reported waste for one store location and extrapolated based on units sold in 2025. Data was missing from Naturkompaniet and Globetrotter locations, so it was extrapolated from Frilufts and Partioaitta data using a waste per product sold average. Data for brand stores is based on waste audits ===== SIDA 59 ===== CSR 2025 FENIX OUTDOOR INTERNATIONAL AG 59 performed in-store in 2025 and supplemented where necessary with data from 2024. Data is missing from our Solna office and a handful of smaller brand stores. Waste fractions smaller than one metric ton are not shown in the waste tables but are considered for GHG calcu- lations. Water withdrawal and discharge data is partially available. Missing data has not been estimated until 2022. For 2024, we estimated the water consumption for Naturkompaniet and Partioaitta based on an average value per employee derived from data from Friluftsland. In 2025, Par- tioaitta data was obtained from landlords but is still an estimate. A simi- lar method was employed for our Alpen International locations in South Korea, using average water use per person per day to estimate the total annual figures based on employee count. For some smaller locations that reported water consumption in past reports but are missing data in the current reporting period, the past year’s data was used. Some 2024 data has been revised due to corrections that were made after the report was published. Category 6: Business travel Since 2023 we streamlined the usage of our emissions factors. Air travel includes RFI as per the data set from DEFRA. Category 7: Employee commuting We designed our own survey to collect commuting data from our employees. Since we are working in a hybrid model, emissions are calculated based on the survey and extrapolated to all employees. The total number of employees is not reduced by a certain share of employees working from home anymore, since most working days have been spent in the office and working-from-home emissions have been calculated separately. CH 4 and N2O greenhouse gases have been calculated based on DEFRA emission factors and are available upon request. Emission factor used for commuting represents CO 2e. Category 12: End-of-life treatment of products sold Until 2024 emissions from end-of-life treatment of our products have been calculated based on an average emission factor derived from a project with MyClimate. Although the emission factor is global and not specific to a certain disposal method but rather worst- case scenario (incineration), we deem it appropriate to get a first understanding of the impact of our products after use. The number presented in the report is based on sold products from Fenix Outdoor Brands and Frilufts Retail (including external brands). Due to a calculation mistake, the prior years, including the baseline 2019, were miscalculated and are a bit overstated. However, improvements with regard to textile or shoe recycling technologies cannot be shown as of today. Different emission factors were applied for Primus and Brunton (metals and plastics). Category 15: Investments Our partial ownership in Viomoda and Tova is accounted for under investments for the share of ownership Fenix Outdoor has and con- siders Scope 1 and 2 from those operations. Unaccounted and excluded Scope 3 categories The following Scope 3 emissions are assumed to be relevant. How- ever, emissions cannot be calculated as of today, for various reasons (lack of resources, missing data, lack of industry-specific methodology and emission factors). - 3.11 Use of sold products The following Scope 3 categories have been excluded from our inventory because they are not relevant, not material or not applicable for our business operations: - 3.8. Upstream leased assets - 3.10 Processing of products sold - 3.13 Downstream leased assets ===== SIDA 60 ===== 60 CSR 2025 FENIX OUTDOOR INTERNATIONAL AG Indicators Topics Reference page or Comment Status* GRI/ESRS  The Organization and Its Reporting Practices  ESRS 2 Organizational details  5,56 GOV 2-2; ESRS 2 BP-1  Entities included in the organization’s sustainability reporting  5,19,56 ESRS 2 SBM-1 Reporting period, frequency and contact point  56, 60 ESRS 2 BP-2   Restatements of information  see text ESRS 1 External assurance  None, spot -check 2025 2026 Activities and Workers  2-6; ESRS 2 SBM-1  Activities, value chain and other business relationships  5, 25–31 2-7; ESRS S1-5  Employees  33–37 2-8; ESRS S1-6 Workers who are not employees  33, 36 Governance   2-9; ESRS 2 GOV-1 Governance structure and composition  5, 19 2-10  Nomination and selection of the highest governance body  according to Swiss law – see AR** 2-11  Chair of the highest governance body  3, 5, 19 2-12: ESRS 2 GOV-1  Role of the highest governance body in overseeing the management of impacts  19 2-13 Delegation of responsibility for managing impacts  19, 21 2-14; ESRS 2 GOV-4 Role of the highest governance body in sustainabiLity reporting  19 2-15  Conflicts of interest  45 2-16 Communication of critical concerns  19 2-17; ESRS 2 GOV-1  Collective knowledge of the highest  19 2-18  Evaluation of the performance of the highest governance body  AR, page 27 (26 partially) 2-19; ESRS 2  GOV-2  Remuneration policies  AR page 57 2-20; ESRS 2 GOV-2 Process to determine remuneration  AR page 57 2-21; ESRS S1-15 Annual total compensation ratio  54 Strategy, Policies and Practices  2-22; ESRS 2 SBM-3 Statement on sustainable development strategy  6f 2-23; ESRS 2 GDR-P Policy commitments => Precautionary Principle or approach  3, 5–7; Fenix Way 2019, page 14 2-24; ESRS 2 GDR-P Embedding policy commitments  see Fenix Way, each chapter and page 6f 2-25; ESRS 1; ESRS S1-3, ESRS S2-3, ESRS S4-3 Processes to remediate negative impacts  see each page of this report 2-26; ESRS S1-2, ESRS S2-2, ESRS S3-3 Mechanisms for seeking advice and raising concerns   5, 19 2-27; ESRS 2 BP-1, ESRS 2 GDR-T Compliance with laws and regulations  21 2-28; ESRS G1-5  Membership associations  6–7 Stakeholder Engagement  2-29; ESRS 2 SBM-2, ESRS 2 IRO-1, ESRS GDR-P  Approach to stakeholder engagement  5, 25 2-30; ESRS S1-7  Collective bargaining agreements 35f, 52 3-1; ESRS 2 IRO-1  Process to determine material topics  6, according to law, internal DMA 3-2; ESRS 2 IRO-2 List of material topics   see introduction to each chapter 3-3; ESRS 2  GOV- 1, ESRS 2 SBM-3, ESRS 2 IRO-1, ESRS 2 GDR-M, ESRS 2 GDR-T Management of material topics1  presented in each chapter of the report Economic Performance   201-1; ESRS 2 SBM- 1, ESRS E1-6  Direct economic value generated and distributed  AR pages 27, 32–43 201-2; ESRS 2 SBM- 3, ESRS E1-11 Financial implications and other risks and opportunities due to climate change  AR 24–27, CSR 10 201-3  Defined benefit plan obligations and other retirement plans  AR 33 201-4  Financial assistance received from government  AR 33 Market Presence  202-1; ESRS S1-9 Ratios of standard entry level wage by gender compared to local minimum wage  refer to CSR RTeport 2023, varies from 1:1 up to 1:4 202-2  Proportion of senior management hired from the local community   100% ESRS CONTENT INDEX 2025 *No data point was verified at the point of publication. We therefore do not present a color coding for this reporting year. ** AR = Annual Report 2025 ===== SIDA 61 ===== CSR 2025 FENIX OUTDOOR INTERNATIONAL AG 61   Indirect Economic Impacts   203-1 Infrastructure investments and services supported  None 203-2  Significant indirect economic impacts  None, 6f   Procurement Practices  204-1  Proportion of spending on local suppliers  not determined in 2025 Anti-Corruption  205-1; ESRS G1-4 Operation assessed for risks related for corruption  100% 205-2 Communication and training about anti-corruption policies and procedures  37, 45 205-3; ESRS G1-4  Confirmed incidents of corruption and actions taken  n/a   Anti-competitive behavior  206-1   Legal actions for anti-competitive behavior, antitrust and monopoly practices  n/a Tax-related Impacts  207-1  Approach to tax  AR 32, 34; CSR 46 207-2  Tax governance, control and risk management  AR 32, 34 207-3  Stakeholder engagement and management of concerns related to tax  n/a; whistleblowing hotline 207-4  Country-by-country reporting  46 305-1; ESRS E1-8  Direct (Scope 1) GHG emissions  39f 305-2; ESRS E1-8  Energy indirect (Scope 2) GHG emissions  39 305-3; ESRS E1-8  Other indirect (Scope 3) GHG emissions  39 305-4; ESRS E1-8 NMIG GHG emissions intensity  40 305-5; ESRS  E1-5, ESRS E1-6, ESRS E1-8 Reduction of GHG emissions  38 305-6  Emissions of ozone-depleting substances (ODS)  none 305-7; ESRS E2-4  Nitrogen oxides (NOx), sulfur oxides (SOx) and other significant air emissions  40 Waste  306-1; ESRS 2 IRO- 2, ESRS E5-5 Waste generation and significant waste-related impacts  12f, 43 306-2; ESRS E5-2, ESRS E5-3  Management of significant waste-related impacts  12f, 43 306-3; ESRS E5-5  Waste generated  43 306-4; ESRS E5-5  Waste diverted from disposal  43 306-5; ESRS E5-5  Waste directed to disposal  43 Environmental Compliance  307-1  Non-compliance with environmental laws and compliance;  n/a Supplier Environmental Assessment 308-1  New suppliers that were screened using environmental criteria 100% 308-2; ESRS E1-5 Negative environmental impacts in the supply chain and actions taken 12 Employment 401-1; ESRS S1-5 New employee hires and employee turnover 33 401-2; ESRS S1-10 Benefits provided to full-time employees that are not provided to temporary or part time  employees 34 401-3; ESRS S1-14 Parental leave 33 Labor/Management Relations 402-1  Minimum notice periods regarding operational changes Minimum 1 month; local and individual longer periods possible Occupational Health and Safety 403-1 Worker representation in formal joint management-worker health and safety committees 33–37 403-2; ESRS S1-14 Types of injury and rates of injury, occupational diseases, lost days, absenteeism and num- ber of work-related fatalities 34 403-3; ESRS 2 IRO-2 Workers with high incidence or high risk of diseases related to their occupation None (33–37) 403-4  Health and safety topics covered in formal agreements with trade unions 34 Training and education 404-1; ESRS S1-12 Average hours of training per year per employee 52 404-2; ESRS 2 GDR- A, ESRS S1-3 Programs of upgrading employee skills and transition assistance programs 34–36 404-3; ESRS S1-12 Percentage of employees receiving regular performance and career development reviews 36 Diversity and Equal Opportunity 405-1; ESRS S1-8 Diversity of governance bodies and employees 33 405-2; ESRS S1-15 Ratio of basic salary and remuneration of women to men 53 Non-discrimination  406-1; ESRS S1-16 Incidents of discrimination and corrective actions taken  45 ===== SIDA 62 ===== 62 CSR 2025 FENIX OUTDOOR INTERNATIONAL AG © 2026, Fenix Outdoor International AG. Tryck: Åtta45 Freedom of Association and Collective Bargaining  407-1   Operations and suppliers in which the right to freedom of association and collective  bargaining may be at risk 25–28 Child Labor 408-1; ESRS 2 IRO- 2, ESRS S1-1, ESRS S2-1 Operations and suppliers at significant risk for incidents of child labor  25–28 409-1; ESRS 2 IRO- 2, ESRS S1-1, ESRS S2-1 Operations and suppliers at significant risk for incidents of forced or compulsory labor 25–28 Security Practices 410-1  Security personnel trained in human rights policies or procedures n/a Rights of Indigenous Peoples 411-1 ; ESRS S3-1, ESRS S3-3  Incidents of violations involving rights of indigenous peoples None Human Rights Assessment 412-1  Operations that have been subject to human rights reviews or impact assessment 100% 412-2  Employee training on human rights policies and procedures see e-Learning participants: 411 412-3  Significant investment agreements and contracts that include human rights clauses or that underwent human rights screening n/a Local Communities 413-1  Operations with local community engagement, impact assessments and development  programs 28–31 413-2; ESRS 2 IRO-2 Operations with significant actual and potential negative impacts on local communities None (25–28, 29) Supplier Social Assessment 414-1  New suppliers that were screened using social criteria 100% 414-2; ESRS 2 IRO- 2, ESRS S3-3 Negative social impacts in the supply chain and actions taken 28–31 Public Policy 415-1; ESRS G1-5  Political contributions None Customer Health and Safety 416-1  Assessment of the health and safety impacts of product and service categories  n/a (100%) 416-2; ESRS S4-4  Incidents of non-compliance concerning the health and safety impacts of products and  services None Marketing and Labeling 417-1  Requirements for products and services information and labeling  As legally requir 417-2; ESRS S4-3 Incidents of non-compliance concerning product and service information and labeling None 417-3; ESRS S4-3 Incidents of non-compliance concerning marketing communications None Customer Privacy 418-1 ; ESRS S4-3, ESRS S4-3 Substantiated complaints concerning breaches of customer privacy and losses of  customer data None   Socioeconomic Compliance 419-1  Non-compliance with laws and regulations in the social and economic area None General Disclosure Requirements ESRS 2 GOV-3 Disclosure of mapping of information provided in sustainability statement about due dili- gence process  see each chapter of the report ESRS 2 IRO-2   Disclosure requirements in ESRS covered by the undertaking’s sustainability statement  5, 56 Climate Change  ESRS E1-1  Transition plan for climate change mitigation  refer to www.fenixoutdoor.com ESRS 2 IRO-1, ESRS E1-2 Description of the processes to identify and assess material climate-related im- pacts, risks and opportunities  10 Pollution  ESRS E2-3  Targets related to pollution  13 ESRS E2-5  Substances of concern and substances of very high concern  13, 14 ESRS 2 SBM-3 Anticipated financial effects from material pollution-related risks and opportunities  13 Water and marine resources ESRS 2 IRO-1  Description of the processes to identify and assess material water and marine resources- related impacts, risks and opportunities 14 ESRS E3-1  Policies related to water and marine resources 14 ESRS E3-2  Actions and resources related to water and marine resources 14 ESRS E3-3  Targets related to water and marine resources 14 ESRS E3-4  Water consumption 13–15 ESRS 2 SBM-3 Anticipated financial effects from material water and marine resources-related risks and  opportunities n/a ===== SIDA 63 ===== CSR 2025 FENIX OUTDOOR INTERNATIONAL AG 63 CONTACT INFORMATION: Aiko Bode Chief Sustainability Officer Fenix Outdoor International AG Weidstrasse 1a 6300 Zug Switzerland Mailing address: Fuhlsbüttler Straße 29, 22335 Hamburg, Germany aiko.bode@fenixoutdoor.com PHOTOS Cover: Fjällräven Photo Page 2-3: Fredrik Lewander Page 4: Tierra Page 8: Christop Nolte, Unsplash Page 18: Niklas Jonasson, Unsplash Page 24: Lars Schneider Page 31: Lars Schneider Page 32: BARTSCH Page 35: Lisa Löwenborg Page 37: Fjällräven Photo Page 55: Fjällräven Photo © 2026, Fenix Outdoor International AG. Tryck: Åtta45 Biodiversity and Ecosystems ESRS 2 IRO-2, ESRS SBM-3 Material impacts, risks and opportunities and their interaction with strategy and busi- ness model 15 ESRS 2 IRO-1 Description of processes to identify and assess material biodiversity and ecosystem-relat- ed impacts, risks, dependencies and opportunities 15 ESRS E4-1  Transition plan and consideration of biodiversity and ecosystems in strategy and busi- ness model  15 ESRS E4-2  Policies related to biodiversity and ecosystems  15 ESRS E4-3  Actions and resources related to biodiversity and ecosystems  15 ESRS E4-4  Targets related to biodiversity and ecosystems  15 ESRS E4-5  Impact metrics related to biodiversity and ecosystems change  15 ESRS 2 SBM-3 Anticipated financial effects from biodiversity and ecosystem-related risks and opportunities  n/a Resource Use and Circular Economy  ESRS E5-1  Policies related to resource use and circular economy  15f ESRS E5-3  Targets related to resource use and circular economy  16 ESRS 5-4  Resource inflows  42, 43 ESRS 2 SBM-3 Anticipated financial effects from material resource use and circular economy-relat- ed risks and opportunities  n/a Business Conduct  ESRS G1-6  Payment practices  according to law or contract; 30–90 days ACKNOWLEDGMENT Without the tireless support of many colleagues around the globe who added the task of sustainability data collection to their normal routine work, this report would not have been possible. The Sustainability Team is most grateful to all those colleagues and valued business partners who eagerly collected information and provided us with valuable feedback and support. A special thanks goes to Saskia Bloch, Sina Hauser, Christofer Jerndorf, Dawn Mancini Moyer, Fabian Nendza, Georgina del Vecho and Maria Venus for compiling this report and to all our colleagues around the globe who contributed. ===== SIDA 64 ===== OUTDOOR International AG Fenix Outdoor International AG, Weidstrasse 1a, 6300 Zug, Switzerland Phone: +46-(0)-660-26 62 00, www.fenixoutdoor.se, E-mail info@fenixoutdoor.se 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