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Årsredovisning 2025

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Cost per acquisition (CPA) and Customer Acquisition capital expenditures
€, unless otherwise stated 2025 2024
Customer Acquisition revenue 362.2 367.4
Customer Acquisition expenses (1,089.2) (998.3)
Customer Acquisition other revenue 4.0 3.5
Customer acquisition adjusted EBITDA (723.0) (627.4)
Customer Acquisition capital expenditure, material 335.2 326.7
Customer Acquisition capital expenditure, direct cost 262.8 253.6
Customer acquisition capital expenditure (598.0) (580.3)
Customer acquisition cost (net) (1,321.0) (1,207.7)
New subscribers added (gross), 000s 872.6 839.8
CPA, €1 1,513.8 1,438.4
Customer Acquisition cost (gross)2 (1,687.2) (1,578.6)
Gross capitalisation (%) 35.4 % 36.8 %
1) 2025 CPA includes investment in media related to our rebranding, from Securitas Direct to Verisure. This programme began in October 2025 and increased Q4 2025 CPA by
approximately €30 and full year 2025 CPA by €7.
2) Customer Acquisition cost (gross) consists of Customer Acquisition expenses and Customer Acquisition capital expenditures.
Monthly adjusted EBITDA per customer (EPC), Portfolio Services adjusted EBITDA and Portfolio Services adjusted EBITDA
margin
€, unless otherwise stated 2025 2024
Portfolio Services revenue 3,267.8 2,947.8
Portfolio Services expenses (860.4) (807.3)
Portfolio Services other revenue 1.7 1.4
Portfolio services segment adjusted EBITDA 2,409.1 2,141.9
Portfolio Services adjusted EBITDA margin 73.7 % 72.7 %
Monthly average Portfolio Services segment adjusted EBITDA 200.8 178.5
Monthly average number of subscribers during the period, 000s 5,849.5 5,391.7
EPC, € 34.3 33.1
Monthly average revenue per user (ARPU)
€m, unless otherwise stated 2025 2024
Portfolio Services segment revenue 3,267.8 2,947.8
Monthly average Portfolio Services segment revenue 272.3 245.7
Monthly average number of subscribers during the period, 000s 5,849.5 5,391.7
ARPU, € 46.6 45.6
Recurring monthly cost (RMC)
€m, unless otherwise stated 2025 2024
ARPU 46.6 45.6
EPC 34.3 33.1
Recurring monthly cost (RMC), € (12.2) (12.5)
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Verisure plc | Annual Report 2025 155

===== SIDA 158 =====

Separately disclosed items (SDIs)
€m 2025 2024
ERP (15.7) (11.2)
Organisational (11.1) (4.7)
IPO and M&A (99.5) (0.2)
Rebranding (26.3) -
Other (18.0) (16.0)
Total impacting EBITDA (170.6) (32.1)
Share-based compensation1 (21.2) -
Amortisation of acquisition related items2 (462.4) (475.5)
Asset retirements - (4.0)
Total impacting EBIT (654.2) (511.7)
Revaluation effects and other financial items (94.5) (33.8)
Total impacting Profit or loss before tax (748.7) (545.5)
Tax impact2 131.5 126.0
Total impacting Net profit or loss (617.2) (419.5)
1) Refer to note 9 Share-based compensation for more details.
2) The total amount reported as amortisation includes a reclassification of €70.4m in 2025 (€93.2m in 2024) between result excl. SDIs and SDIs. The corresponding tax impact is
€13.4m in 2025 (€18.7m in 2024). The purpose of the reclassification is to reflect the operating result absent the 2020 Business Combination.
Total Net debt, LTM net leverage, L2QA net leverage and L2QA secured net leverage
€m Dec 2025 Dec 2024
Long-term borrowings 4,985.5 7,580.0
Short-term borrowings 329.8 357.5
Less adjustments to amortised cost 37.1 53.8
Less qualified receivables financing (241.3) (289.5)
Less accrued interest (58.6) (84.2)
Total indebtedness 5,052.5 7,617.6
Less cash and cash equivalents (30.0) (30.1)
Total net debt 5,022.5 7,587.5
Less unsecured debt (1,471.2) (1,567.6)
Non-obligor cash and cash equivalents¹ 1.0 0.8
Secured net debt² 3,552.3 6,020.7
Adjusted EBITDA (L2QA)³ 1,726.4 1,556.6
Adjustment for FOG savings⁴ 20.0 19.9
Adjusted EBITDA (L2QA incl. FOG savings) 1,746.4 1,576.5
L2QA net leverage, ratio 2.9x 4.8x
L2QA secured net leverage, ratio 2.0x 3.8x
Adjusted EBITDA (LTM)⁵ 1,708.0 1,534.0
LTM net leverage, ratio 2.9x 4.9x
1) Non-obligor cash and cash equivalents relates to impact from entities that should not be considered according to our financing agreements.
2) Secured net debt is the principal amount of our secured debt as presented in note 25 Borrowings.
3) Adjusted EBITDA - L2QA represents the last two quarters of Adjusted EBITDA times two (annualised).
4) FOG savings refer to adjustments according to the Senior facilities agreement (SFA) from anticipated incremental cost savings under the FOG program.
5) Adjusted EBITDA (LTM) represents the sum of the last 12 months Adjusted EBITDA.
Financial Statements
Alternative performance measures reconciliation (unaudited) continued
156 Verisure plc | Annual Report 2025

===== SIDA 159 =====

Sustainability
Statement
SUSTAINABILITY STATEMENT
Our Sustainability Strategy 159
Environmental Disclosures 174
Social Disclosures 199
Governance Disclosures 245
Annexes 254
Strategic Report Corporate Governance Financial Statements Sustainability Statement Additional Information

===== SIDA 160 =====

158 Verisure plc | Annual Report 2025

===== SIDA 161 =====

ESRS 2 Our Sustainability Strategy
About this Sustainability BP-1 BP-2
Statement
This section of the Annual Report, the Verisure plc consolidated
2025 Sustainability Statement (corporate identity number
16440137), is aligned with the Financial Statements and refers to
the Environmental, Social, and Governance (ESG) management
of Verisure plc and all its subsidiaries, with the exception of
Mexico. It also covers sustainability topics for our upstream
and downstream value chains.
This Sustainability Statement has been prepared on a
consolidated basis, encompassing Verisure as a whole. The
scope of consolidation is consistent with that of the financial
statements, with the exception of Mexico. Due to its recent
integration into Verisure, Mexico is excluded from the 2025
reporting cycle, except where explicitly indicated (e.g. EU
Taxonomy and carbon footprint data). For 2025, emissions
relating to Mexico’s operations were estimated through
extrapolation, applying the emissions intensity per million
euros of revenue observed across our Latin American operations
to Mexico’s financial data. A structured data collection and
validation process is underway, and Mexico will be incorporated
into future reporting cycles. The GHG baseline will be recalculated
once complete data is available. No subsidiaries have been
exempted from individual or consolidated sustainability reporting
under Articles 19a(9) or 29a(8) of the Accounting Directive.
This document corresponds to fiscal year 2025 and is prepared
on an annual basis, with the Sustainability Statement subject
to a limited assurance engagement by PwC Sweden; no external
entity other than the designated assurance provider undertakes
validation of our metrics. This statement is part of our
commitment to transparency with our stakeholders.
The document has been compiled in accordance with the
European Sustainability Reporting Standards (ESRS), with the
exception for the requirement to be included in the Directors
report. As a quoted company under UK legislation, Verisure
reports in accordance with the UK Companies Act 2006 and the
UK Streamlined Energy and Carbon Reporting (SECR)
regulations. Relevant UK energy consumption and associated
greenhouse gas emissions disclosures are included in this
Sustainability Statement.
We outline our ongoing efforts to provide complete and high-
quality information across the Verisure value chain. For data
points that require value chain information, metrics are
disclosed when data is available and material.
Verisure has not exercised the option to omit any specific
information related to intellectual property, know-how, or the
results of innovation. All relevant information within the scope
of this report has been disclosed in line with ESRS qualitative
characteristics. Verisure has applied the ESRS phase-in
provisions for ESRS 2 SBM-3 (48 e), E1-9, S1-7, and S1-12, as well
as for certain data points under other Disclosure Requirements
requiring information on non-employees1. The Sustainability
Statement includes cross-references to other sections of this
Integrated Report and, where applicable, to relevant external
information.
Basis for Preparing the Sustainability Statement
Our carbon footprint metrics are prepared in accordance with
ESRS definitions, using data and assumptions consistent with
our consolidated financial statements. Where metrics cannot
be directly measured, we estimate them using both internal
and external data sources, with key assumptions and sources
of uncertainty disclosed. Scope 1 emissions are calculated
using Defra emission factors and direct fuel and natural gas
consumption data from our buildings and fleet, resulting in low
uncertainty. Scope 2 location-based emissions are calculated
using International Energy Agency (IEA) emission factors, while
market-based emissions use Association of Issuing Bodies (AIB)
residual mix factors. Where AIB factors are unavailable, IEA
location-based factors are applied, which may introduce limited
uncertainty. Scope 3 emissions are subject to some uncertainty,
particularly where estimates are required. These estimates
include spend-based calculations using EPA factors, supplier
data with incomplete Scope 1 and 2 coverage, and extrapolations
from biennial employee commuting surveys. We also estimate
product lifetime energy use, call-out travel, well-to-tank
electricity emissions, and waste generation. Data quality
continues to improve as supplier engagement increases and
a greater share of emissions is calculated using primary data.
In preparing the waste indicators presented in this report,
we relied primarily on inventory movements recorded in
our Enterprise Resource Planning (ERP) system. Using these
records, we assigned average weights to the corresponding
number of units to calculate overall waste volumes. All
calculations were carried out using conservative assumptions
to avoid overstating performance.
In relation to wage indicators, we use market salary benchmarks
from internationally reputed third-party providers with a
long-standing track record and expertise in global compensation
and rewards to determine the minimum adequate wage in each
country where we operate. These benchmarks, while based on
statistically robust data, may not fully capture the entire labour
market and can therefore introduce limited uncertainty. To
prevent any colleague from being paid below an adequate wage,
we apply a prudent safeguard approach: if benchmark results fall
below either the statutory minimum wage or the applicable CBA2
(when it exceeds the legal minimum), we use the threshold most
favourable to the colleague. For any inquiries, please contact
us at sustainability@verisure.com.
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Verisure plc | Annual Report 2025 159
1) For quantitative workforce-related data, only employees have been reported for S1-14 (88 a,b,c) and S1-17 (103 a,b,c,d; 104 a,b).
2) Collective Bargaining Agreements.

===== SIDA 162 =====

Leadership Oversight and GOV-1 GOV-2
Governance of Sustainability
Board of Directors
The Board is responsible for the Company’s organisation
and administration, regularly assessing Verisure’s financial
situation and maintaining an organisational structure that
enables effective oversight of accounting records, financial
management, and other financial aspects. In addition, the
Board holds ultimate responsibility for overseeing
sustainability matters, including the approval and
supervision of the Sustainability Statement, and promotes
the appropriate integration of sustainability considerations,
including material impacts, risks and opportunities, into the
Company’s governance.
As of 31 December 2025, the Board was comprised of twelve
members3, including one Executive Director and eleven
Non-Executive Directors. Of these twelve members, ten
(83%) were independent in relation to the Company and its
executive management, while seven (58%) were
independent in relation to the major shareholders. Five of
the twelve Board members (42%) were independent in
relation to both the Company and its executive
management, as well as in relation to the major
shareholders. In terms of gender representation, the Board
consisted of nine men and three women, representing 75%
and 25% respectively, with a gender diversity ratio of 37.5%4.
Taking into account the appointment of Cecilia Beck-Friis,
the resignation of Patrick Healy on 3 February 2026, and the
proposed election of Sam Kini at the Annual General
Meeting 2026, five of the directors will be women (38%).
Eleven directors will at that time considered independent in
relation to the Company and the executive management
(85%), while nine directors will be considered independent
in relation to the major shareholders (69%).
The Board has established Rules of Procedure, which are
reviewed as necessary. These include the set rules for
holding Board meetings, their frequency, and the agenda
items to be covered. The Board has also adopted a policy on
Matters Reserved for the Board and maintains an indicative
annual calendar. In addition, the Articles of Association
specify rules on the proceedings of the Board. The Board
does not include representatives of colleagues or other
workers.
In 2025, the Board held ten meetings, including one
conducted by written resolution.
The Board establishes and appoints the members of the
Audit and Risk Committee. The primary roles of this
Committee is preparatory and advisory, with its
responsibilities defined in its Terms of Reference.
The Board may, on occasion, delegate authority to the
committees to make decisions on specific matters.
Members of the Board of Directors at 31 December 2025
Name
Year of
appointment Nationality Gender
Executive
Director
Non-Executive
Director
Independent of
the Company and
management
Independent of
major
shareholders
Stefan Goetz (Chairman) 2011 German Man ☑ ☑
Casilda Aresti 2023 Spanish/
American Woman ☑ ☑
Andrew Barron 2020 British Man ☑ ☑ ☑
Patrick Healy 2011 American Man ☑ ☑
Adrien Motte 2017 French Man ☑ ☑
Henry Ormond 2017 British Man ☑ ☑
Carlos Ortega Arias-Paz 2019 Spanish Man ☑ ☑ ☑
Austin Lally 2014 British Man ☑ ☑
Luis Gil 2011 Spanish Man ☑ ☑
Dominique Reiniche 2024 French Woman ☑ ☑ ☑
Graeme Pitkethly 2025 British Man ☑ ☑ ☑
Sara Öhrvall 2025 Swedish Woman ☑ ☑ ☑
Sustainability Statement
Our Sustainability Strategy continued
160 Verisure plc | Annual Report 2025
3) Changes to the Board of Directors in 2026: Cecilia Beck-Friis was appointed on 3 February 2026, made in accordance with the Board’s powers under the Verisure Articles of
Association. The Nomination Committee has also proposed that Sam Kini be elected at the Annual General Meeting 2026, with effect from 1 May 2026. Both Cecilia and Sam
are independent of Verisure and its executive management, as well as of Verisure’s major shareholders, and have been endorsed by Verisure’s Nomination Committee. As
part of this planned Board transition, Patrick Healy, CEO of Hellman & Friedman, has stepped down as a member of the Board, effective 3 February 2026.
4) The gender diversity ratio is calculated by dividing the number of women on the Board of Directors by the number of men on the Board of Directors (excluding the Board
Chair).

===== SIDA 163 =====

Audit and Risk Committee
The Audit and Risk Committee supports the Board in overseeing
financial reporting, internal controls, the Compliance
Programme, and the Company’s risk management framework.
The Committee also oversees sustainability-related matters
insofar as they relate to the Enterprise Risk Management (ERM)
process, internal controls and reporting.
The Audit and Risk Committee met four times in 2025. Further
details on its composition, mandate, and responsibilities are
provided in the Corporate Governance
section.
ESG Committee
Verisure has established an ESG Committee as a non-Board
committee. The ESG Committee assists the Board in aligning the
execution of the ESG strategy and the management of ESG
topics, and in coordinating priorities and action plans with the
level of ambition set by the Board. The Committee also reviews
the performance of the ESG strategy and priorities, as well as
the progress of the action plan. The ESG Committee met twice
in 2025. Minutes of the ESG Committee are reported to the
Board, with two such updates provided in 2025.
The roles and responsibilities of our administrative,
management, and supervisory bodies regarding Impact, Risk,
and Opportunities (IROs) are clearly defined in our governance
framework, as further detailed in the Corporate Governance
Report. Our ESG Committee, which oversees our ESG strategy
and progress, including climate change issues, has reviewed
and addressed the list of ESG-related material IROs identified
during the reporting period through our Double Materiality
Assessment (DMA), as disclosed in ESRS 2 IRO-1: Our Double
Materiality Assessment Process. The Management Team
provides support to this Committee and frequently reviews the
advancement of integrating material ESG-related IROs into our
overall strategy. Further information on the Management Team
and its composition can be found in the Corporate Governance
Report section of the Corporate Governance Report.
Additionally, all our policies are submitted to the Board for
review and approval, providing comprehensive oversight and
alignment with our governance principles.
The members of the ESG Committee are: Andrew Barron as
independent Board member and chair of the ESG Committee,
Zomo Fisher as head of ESG & Sustainability at Hellman &
Friedman (H&F), our CEO, Austin Lally, CFO Colin Smith, CLO
Nina Cronstedt, Chief Human Resources, Communications, and
ESG Officer Marta Panzano, and our ESG Senior Director,
Enrique Bofill.
The Board sets the overarching sustainability ambition, while
the ESG Committee translates this ambition into concrete
targets and monitors progress.
ESG Management at Verisure
Our ambition is to become a cross-industry benchmark for
consistent, measurable ESG progress over time.
We continued our sustainability journey in 2025 under the
leadership of Marta Panzano, our Chief Human Resources,
Communications, and ESG Officer.
As part of our ESG management, in addition to the ESG
Committee, there is an ESG Operative Committee which
contributes to defining the ESG strategy at the Company level
and manages execution across our geographies and functions.
This Committee meets at least twice a year and when necessary.
The ESG Senior Director coordinates the ESG Operative
Committee. He draws on the participation of representatives
from our functional teams and geographies, as well as other ad
hoc participants, depending on the agenda. The ESG Operative
Committee also receives input from the Verisure Diversity,
Equity, Inclusion, & Belonging Committee (VDEIBC), which
met twice in 2025. This body, which forms part of the ESG
governance cycle, reviews the DEIB roadmap, monitors
progress, and validates key strategic actions. These meetings
also address country-specific needs and support action plans.
Our CEO sponsors the VDEIBC.
The ESG Operative Committee reports to the Management Team
and is responsible for validating and monitoring the progress of
the overall ESG strategy, roadmap, and targets. This progress is
reported and discussed at the ESG Committee, chaired by an
independent Board member.
The Board is aware of the ESG dynamics affecting both our
Company and its stakeholders, including the DMA process and
related IROs. It integrates these factors into its strategic
decision-making processes to support their alignment with our
Company’s long-term vision. The identification and assessment
of IROs are formally overseen by the ESG Committee, with
outcomes subsequently reviewed and approved. Once
endorsed, these outcomes are presented to the Board for
review and validation, and the Board receives the minutes of
ESG Committee meetings as part of this formal governance and
oversight process. For more information on our dedicated
controls and procedures, please refer to ESRS 2 GOV-5:

Integrated Management of Sustainability-Related Risks and
Reporting section. In 2025, the outcomes of the DMA were used
as an input to our ERM process, informing the prioritisation of
sustainability-related topics and their consideration in strategic
discussions and key business decisions. Where relevant,
potential trade-offs between sustainability considerations,
operational priorities, and financial objectives were assessed as
part of this process.
The Board’s skills and experience are directly connected to our
Company’s material IROs through its deep understanding of our
business and the sustainability topics most relevant to Verisure,
including best-in-class protection services, the treatment and
well-being of colleagues, customer and data protection, and the
specific characteristics of our value chain. Further information
on the background, expertise, and composition of the Board is
provided in the Board of Directors
section of the Corporate
Governance Report. This approach allows us to implement
appropriate mitigation strategies and capture opportunities
as they arise.
Every year, as part of our annual Talent Review and Succession
Planning process, we access current and potential future
leadership gaps. Our analysis evaluates the roles required to
strengthen our talent pipeline – in terms of quantity,
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Verisure plc | Annual Report 2025 161

===== SIDA 164 =====

performance, and diversity – and identifies the areas of
capabilities and knowledge where further investment is
needed, including ESG and Sustainability.
Linking Incentives to Sustainability
GOV-3
Performance
Our Company operates under a pay-for-performance
compensation philosophy designed to reward individual
contribution and collective business results. As part of this
framework, our ambition is to set for all colleagues a portion of
their total compensation linked to variable pay either to
business performance or individual contribution.
Our variable compensation structure is calibrated according to
the level of responsibility within our organisation. For sales and
operations roles with less responsibility, variable compensation
is typically linked to business KPIs performance. For the rest,
variable schemes consist of two main components: individual
performance and business performance, with the weighting of
each component varying by role. For colleagues at the lower
levels of the organisation, individual performance accounts for
approximately 75% of the total variable opportunity. In
contrast, for the CEO, the CFO, and Management Team members
with cluster responsibility, the individual component
represents a 25% of variable opportunity, with the remaining
portion tied to broader business performance indicators; For
the rest of the Management Team, each component (individual
and business performance) could vary between 25% and 50%.
Our business performance component is determined annually
by our Finance function. We assess business results against a
predefined set of KPIs, which we establish before the start of
the fiscal year. These KPIs reflect our most critical operational,
financial, and strategic objectives.
For the individual performance component, colleagues who
participate in our internal performance model, known as STAR,
define their objectives at the beginning of each year. We
evaluate achievement against these goals at year-end, which
determines each colleague’s performance assessment. While
not all colleagues participate in the STAR model, those outside
it typically have variable pay elements linked to sales metrics
or other operational KPIs that can be measured on a monthly
basis.
In addition, our Management Team shares a common annual
objective focused on advancing the Company’s ESG agenda,
including our 2030 ambition. This objective is measured
through two key performance indicators representing 10% of
the individual component of annual objectives:
i) increasing women’s representation at both the overall
workforce and leadership levels, accounting for 5%; and
ii) reducing consolidated GHG emission intensity (Scopes 1, 2,
and 3) per unit of revenue, accounting for 5%.
To support this objective, we have established a structured
framework to assess our performance against defined GHG
emission reduction targets. These targets, disclosed in the E1-4:

Targets Related to Climate Change Mitigation and Adaptation
section in the E1 Climate Change chapter, serve as measurable
benchmarks for evaluating the effectiveness of our climate
strategy and its integration into executive remuneration.
Our current target is to achieve a 40% reduction in GHG
emission intensity per million euro of revenue (€m) for Scopes
1, 2, and 3 by 2030, compared to 2021 levels. We monitor our
progress annually against this baseline, and performance
directly informs the ESG-linked component of variable
remuneration.
The ESG-linked incentive terms, including the selection of KPIs
and their respective weightings, are approved and periodically
reviewed by our Remuneration Committee. We evaluate these
KPIs annually against a clearly defined 2021 baseline, which
serves as the reference point for measuring progress.
Sustainability Statement
Our Sustainability Strategy continued
162 Verisure plc | Annual Report 2025

===== SIDA 165 =====

Statement on Due DiligenceGOV-4
The following section provides a comprehensive overview of
our Due Diligence process for sustainability matters. The table
cross-references the core elements and steps of due diligence,
covering impacts on people and the environment, with the
relevant disclosures in our Sustainability Statement. This
mapping aims to offer clarity and transparency about how we
identify, assess, address, and monitor adverse impacts across
our operations and value chain.
Core Elements
Of Due Diligence Sections In The Sustainability Statement Pages
Embedding due diligence
in governance, strategy,
and business model
1. ESRS 2 GOV-1 & GOV-2: Leadership Oversight and Governance of Sustainability Page 160
2. ESRS 2 GOV-3: Linking Incentives to Sustainability Performance Page 162
3. ESRS 2 SBM-3: Our Material Impacts, Risks, and Opportunities Page 167
Engaging affected
stakeholders in all key
steps of due diligence
1. ESRS 2 GOV-1 & GOV-2: Leadership Oversight and Governance of Sustainability Page 160
2. ESRS 2 SBM-2: Stakeholder Engagement and Priorities Page 165
3. ESRS 2 IRO-1: Our Double Materiality Assessment Process Page 171
4. ESRS 2 MDR-P (Minimum Disclosure Requirements Regarding Policies) E1-2: Page 181
E5-1: Page 190
S1-1: Page 203
S1-2: Page 204
S1-3: Page 205
S2-1: Page 221
S2-2: Page 222
S2-3: Page 223
S3-1: Page 228
S3-2: Page 228
S3-3: na
S4-1: Page 234
S4-2: Page 235
S4-3: Page 236
G1-1: Page 246
G1-2: Page 250
G1-3: Page 251
5. Topical ESRS: Reflecting the Different Stages and Purposes of Stakeholder
Engagement Throughout the Due Diligence Process
Identifying and assessing
adverse impacts
1. ESRS 2 IRO-1: Our Double Materiality Assessment Process Page 171
2. ESRS 2 SBM-3: Our Material Impacts, Risks, and Opportunities Page 167
Taking action to address
adverse impacts
1. ESRS 2 MDR-A (Minimum Disclosure Requirements Regarding Actions) E1-1: Page 174
E1-3: Page 182
E5-2: Page 190
S1-4: Pages 206, 210, 213, 216
S2-4: Page 223
S3-4: Page 229
S4-4: Pages 238, 241, 243, 244
2. Topical ESRS: Reflecting the Range of Actions, Including Transition Plans, Through
Which Impacts Are Addressed
Tracking effectiveness
and communicating
outcomes
i. ESRS 2 MDR-M (Minimum Disclosure Requirements Regarding Metrics) E1-4: Page 183
E5-3: Page 191
S1-5: Pages 207, 211, 213, 216
S2-5: Page 226
S3-5: Page 231
S4-5: Pages 240, 242, 243, 244
ii. ESRS 2 MDR-T (Minimum Disclosure Requirements Regarding Targets)
iii. Topical ESRS: Regarding Metrics and Targets
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===== SIDA 166 =====

Integrated Management of GOV-5
Sustainability-Related Risks and
Reporting
We manage sustainability-related risks, uncertainties, and
reporting through an integrated framework aligned with our
ERM process and supported by sustainability reporting Entity
Level Controls. Our sustainability reporting is governed by
defined processes embedded within our ESG Framework,
developed in line with the COSO methodology and covering the
identification, assessment, management, and reporting of
sustainability-related impacts, risks, and opportunities. These
risks have been analysed with key control owners, and a
governance project is underway to map ESG information owners
by country and at a global level, strengthening accountability
and data reliability.
We identify and manage key sustainability reporting risks,
including data availability, deficiencies in ESG information
disclosure, and alignment with ESG standards, through our
ESG Framework, which defines corresponding mitigating
strategies and oversight mechanisms. This framework provides
a consolidated view of sustainability-related risks and the
associated mitigation strategies.
Our ESG Framework is integrated across relevant internal
functions, including Finance, Procurement, Compliance, Internal
Control, and ESG. While our ERM process and the DMA are
closely linked and mutually informative, we apply distinct
methodologies and scoring approaches to reflect their different
objectives, particularly in relation to financial materiality under
the ESRS.
We regularly report risks, controls, and key findings as part of
our risk management framework to the Audit and Risk
Committee and the Board, with updates provided at each Audit
and Risk Committee meeting. The Board retains overall
responsibility for determining risk appetite and for maintaining
robust, continuously monitored risk processes. The outcomes
of the DMA provide relevant input to our ERM exercise. For
further details on associated mitigation strategies, please refer
to the Risks
section in the Strategic Report.

Our Strategy, Business Model, SBM-1
and Value Chain
Key Products, Services, and Markets Overview
BUSINESS VALUE CHAIN
Our core business is to provide a premium and differentiated
monitored security service to our customers. Our business
model integrates product development, design, and sales with
installation, service, and a 24/7 professional monitoring
solution. Our vertical integration allows us to maintain
complete control over the value chain while mitigating the risk
of disruption. By leveraging this structure, we gain an end-to-
end view of the potential environmental impacts of our
activities and identify opportunities for improvement from a
sustainability perspective.
Alongside a suite of digital services designed to protect what
matters most for our customers—both inside and outside their
homes—we offer personal protection services. These services
include remote app-enabled assistance, allowing our
monitoring response operators to provide help whenever
and wherever it is needed.
Sustainability Statement
Our Sustainability Strategy continued
164 Verisure plc | Annual Report 2025
Support Value Chain
• IT
• Finance
• Human Resources
• Communications
• Legal
• ESG
• Procurement and
Supplier Engagement
Material topics present in each category
Own operations: E1 Climate Change, E5 Circular
Economy, S1 Own Workforce, S4 Customers and
End-Users, G1 Business Conduct
Upstream: S2 Workers in the Value Chain, G1
Business Conduct
Downstream: E1 Climate Change, E5 Circular
Economy, S3 Affected Communities, S4
Customers and End-Users, G1 Business Conduct

===== SIDA 167 =====

Further information on our significant markets and
geographies, key customer groups, and material changes during
the period is provided in the About Verisure
and Our Business
Model and Strategy Overview sections of the Strategic Report.
Headcount of employees by geographical area at period end is
disclosed in the following table:
Geographical distribution of headcount by employee
location
31 December 2025
Iberia and Nordics 12,542
Other Europe 8,578
Latin America 7,144
Central and other 1,579
Total1 29,843
1 30,547 including Mexico
The determination of significant products, services, markets
and customer groups is grounded in the assessment that our
core business activities represent our most material impacts
from both an environmental and a social perspective under the
double materiality approach. As a provider of monitored
security solutions, the design, delivery, and performance of our
products and services to households and small businesses
constitute the primary interface through which we generate
sustainability-related impacts, risks and opportunities.
Consequently, these activities form the basis for defining,
prioritising and assessing our sustainability-related objectives
and actions.
From an environmental standpoint, matters relating to product
design, durability, circularity, use of renewable energy sources,
recycled and recyclable materials, and packaging minimisation
are addressed in the E5 Product Lifecycle Management &
Circularity chapter, specifically under E5-2:
Actions Related to
Resource Use and Circular Economy, including the sections on
Product Design, Product Packaging, and Reverse Logistics.
From a social perspective, the same core activities are
intrinsically linked to customer safety, responsible service
provision, accessibility, data protection, and overall customer
outcomes. These aspects are addressed under S4 Best-in-Class

Protection & Peace of Mind within the S4 Customers and End-
Users chapter, where we describe how product and service
quality, reliability, and ethical conduct underpin our
commitment to safeguarding customers and delivering positive
social impact.
Upstream Value Chain and Key Inputs:
The upstream segment includes activities prior to our own
operations, such as supplier selection, procurement, inbound
logistics, and third-party manufacturing. Key inputs are secured
through strategic relationships with Electronic Manufacturing
Services (EMS) and Original Design Manufacturers (ODM), which
support the production of hardware and technological
components, as well as third-party logistics providers (3PLs).
Decisions taken at this stage, including material sourcing and
supplier choice, directly influence the sustainability, quality,
and reliability of our products. Key upstream stakeholders
include suppliers, manufacturing partners, and logistics
providers.
Own Operations:
Verisure’s own operations comprise activities directly managed
and executed by the Company. These include product and
service innovation, marketing, sales and professional
installation, customer service and support, and product end-of-
life management. Innovation is driven internally to anticipate
and meet evolving customer needs and is materialised in
collaboration with our strategic suppliers. Product end-of-life
management supports circularity through reuse, recycling, and
responsible disposal. Support functions such as IT, Finance,
Procurement, Human Resources, Communications, Legal, and
ESG are embedded across these operations, reinforcing
accountability and operational resilience.
Downstream Value Chain:
Downstream activities include customer use of products and
services, the environmental and social impacts associated with
their use, and coordination with guard, police, and fire services
to support an effective emergency response. End-of-life
treatment of products is also managed as part of the
downstream value chain to minimise environmental impacts
and support a circular economy. Key downstream stakeholders
include customers, end-users, and public security services.
Where installation and maintenance activities are performed by
franchise or outsourced partners, these are considered part of
our downstream value chain for sustainability reporting
purposes, and the associated vehicle fuel combustion
emissions are reported under Scope 3 Category 14 (Franchises),
in accordance with the GHG Protocol.
For further information on the communication channels and
engagement mechanisms with customers and end-users, please
refer to section S4-2:
Processes for Engaging with Customers
and End-Users about Impacts and section S4-3: Processes to
Address Customers Impacts and Channels for Raising Concerns,
included under section S4 Customers and End-Users.
Strategic Report Corporate Governance Financial Statements Sustainability Statement Additional Information
Verisure plc | Annual Report 2025 165

===== SIDA 168 =====

Stakeholder Engagement and SBM-2
Priorities
Engaging with stakeholders and understanding their interests
and views is a core element of our strategy and business model.
Our ability to deliver on our commitments to stakeholders has
guided us over the years and reinforced our belief that active
listening is essential to adapting our strategy to changing
contexts and accelerating action on sustainability matters.
We engage with stakeholders at both global and country levels,
in accordance with our Code of Conduct and policies, through
structured and ongoing dialogue. These engagement processes
enable us to identify, assess, and manage actual and potential
impacts, risks, and opportunities related to environmental,
social, and governance matters, and to make informed
decisions with transparency, honesty, and responsibility.
We identified 10 key stakeholder groups whose interests and
views are considered critical to our long-term success and
sustainability performance: 1) customers, 2) investors, 3) the
Management Team, 4) employees, 5) suppliers & business
partners, 6) public stakeholders, 7) the environment (as a silent
stakeholder), 8) our communities, 9) rating agencies, and 10)
competitors. These stakeholders include individuals or groups
affected by our operations and value chain, as well as users of
this Sustainability Statement, such as investors and other
capital market participants.
As noted in our Section 172(1) Statement
of our Strategic Report,
we actively consider the interests and views of our stakeholders
in our strategic decision-making, recognising that long-term
success depends on understanding the needs of those affected
by, or involved in, our operations. Furthermore, we engage with
stakeholders to identify and manage our material impacts,
risks, and opportunities across environmental, social, and
governance matters. Engagement processes and outcomes for
each stakeholder group are regularly reviewed with the
Management Team and Board to inform strategic priorities and
decision-making.
We tailor our engagement approach to each stakeholder.
Engagement channels include, among others, employee surveys
and dialogue mechanisms, customer service interactions and
satisfaction surveys, supplier assessments and audits, investor
communications, regulatory engagement, community
initiatives, and structured internal governance processes
involving management. These channels allow us to gather both
qualitative and quantitative input on sustainability-related
matters across our value chain.
Stakeholder feedback is systematically analysed and plays a
key role in shaping our strategic priorities. Since 2015, ESG
considerations have been embedded in our strategic plan to
achieve consistent, measurable progress on environmental,
social, and governance topics to contribute positively to society
in the countries where we operate or have influence through
our value chain. Outcomes from stakeholder engagement
directly inform action plans, product and service
improvements, and risk management processes.
We continuously engage with our colleagues through several
key mechanisms that provide both qualitative and quantitative
feedback. These include the annual Sustainable Engagement
Survey, eNPS measurement along the Employee Lifecycle,
consultation via Trade Union Representatives and Work
Councils, the STAR Performance Management Process, and the
globally available Speak Up channel. For further details, please
refer to the Speak Up
Framework and Policy subsection in the
section G1-1: Business Conduct Policies and Corporate Culture
of the G1 Ethics & Integrity chapter.
The interests and views of stakeholders are a fundamental
input into our DMA, as described in the section, ESRS 2 IRO-1:
Our Double Materiality Assessment Process. The results of this
analysis, including identified material impacts, risks, and
opportunities, are regularly communicated to the Board and
integrated into strategic decision-making and governance
processes, as further described in ESRS 2 GOV-1 & GOV-2:

Leadership Oversight and Governance of Sustainability section.
By fostering continuous dialogue and integrating stakeholder
perspectives into our decision-making, we strengthen our
understanding of societal expectations in relation to our
business objectives and enhance our ability to manage
sustainability-related matters in a structured and responsible
manner. Stakeholder engagement outcomes, including insights
derived from the DMA process, continuously inform and refine
the Company’s strategy, particularly in the identification and
prioritisation of IROs, supporting alignment between strategic
decision-making and stakeholder expectations.
Sustainability Statement
Our Sustainability Strategy continued
166 Verisure plc | Annual Report 2025

===== SIDA 169 =====

Our Material Impacts, Risks, SBM-3
and Opportunities
As part of our materiality assessment, we have identified and
evaluated the ESG-related material IROs across our operations
and within our upstream and downstream value chains. These
factors are analysed to understand their relevance to our
business model and overall sustainability strategy. Below,
we provide a list of identified IROs. Their scoring determines
the order of the material topics based on the axes of impact
materiality (positive and negative impacts on stakeholders) and
financial materiality (opportunities and risks for the business
and investors). The tables below also link the IROs with our
business model by explaining their location in our value chain:
Impact Materiality
Environment
Positive
Upstream
Short term (real)
Social
Negative
Own operations
Medium term (potential)
Governance
Downstream
Long term (potential)
E1
Climate
Change
Potential limitations to our ability to serve customers and fulfil our
protective role caused by climate-related hazards causing business
interruptions.

Climate
Change
Contribution to climate change through GHG emissions, mainly from our
vehicle fleet and supply chain.

Climate
Change
The depletion of natural resources caused by the energy consumption
from non-renewable sources.

E5
Product
Lifecycle
Management
& Circularity
Depletion of natural resources through the consumption of non-
renewable raw materials in the production chain.

S1
Diversity,
Equity,
Inclusion
& Belonging
(DEIB)
Encouraging gender equity and fair compensation through inclusive
development and merit-based progression, while monitoring talent
development and evaluation processes to support fair treatment
throughout the employee lifecycle.

Employee
Health, Safety,
& Well-being
Embedding a safety-first culture through continuous training and
awareness programmes empowers colleagues to take ownership of risk
prevention, reinforcing a shared sense of accountability and care.

Talent
Management
and
Sustainable
Engagement
By regularly analysing employee feedback to understand how they feel
and think, the Company fosters a culture of trust and continuous
improvement, enhancing overall well-being and engagement.

Employee
Relations
A potential disregard for colleagues’ non-working time and prolonged
high-stress conditions could lead to fatigue, burnout, and reduced
attentiveness – undermining performance, increasing turnover, and
compromising service quality.

Employee
Relations
Providing wages that are sufficient to meet basic living costs enables
colleagues to live with dignity, financial stability, and personal autonomy
– fostering well-being, motivation, and long-term engagement.

S3
Community
Impact
Direct and indirect job creation contributes to the social and economic
development of local communities.

Community
Impact
By harnessing our colleagues’ volunteering time, skills, expertise, and
other resources, Verisure’s community impact initiatives promote social
and labour inclusion for vulnerable groups.

ESRS Verisure
Material Topic Impacts Type of
Impact
Value Chain
Location
Time
Horizon
Strategic Report Corporate Governance Financial Statements Sustainability Statement Additional Information
Verisure plc | Annual Report 2025 167

===== SIDA 170 =====

S4
Best-in-Class
Protection &
Peace of Mind
Integrated safety technologies, such as smoke detectors, gas and water
leak sensors, panic buttons, fall detectors, and emergency call features,
along with 24/7 monitoring, contribute to user protection and physical
safety, enabling rapid emergency response and intervention.

Best-in-Class
Protection &
Peace of Mind
Through our services, Verisure provides peace of mind, protecting what
matters most to residential and business customers by deterring
intrusions, detecting and verifying real incidents, and by intervening
promptly.

Best-in-Class
Protection &
Peace of Mind
A potential failure in business continuity planning could lead to service
interruptions or degraded performance during crises, disproportionately
affecting vulnerable users who depend on alarm systems for safety and
peace of mind.

Data Privacy &
Cybersecurity
The violation or leakage of stakeholders’ personal data would undermine
individual privacy, weaken user confidence, and may result in significant
harm to affected individuals as well as reputational and legal
consequences for the Company.

Data Privacy &
Cybersecurity
Potential security breaches could expose stakeholders to identity
theft, financial loss, and psychological harm.

G1
Ethics &
Integrity
Fostering a culture of integrity, accountability, and customer focus across
all levels of the Company strengthens employee engagement, enhances
service quality, and builds long-term trust with customers.

Ethics &
Integrity
By aligning our Speak Up practices – including the Verisure Speak Up
Policy and platform – with the EU Whistleblower Directive (Directive EU
2019/1937) and its national transpositions, we promote safe and
confidential channels for reporting misconduct.

Ethics &
Integrity
Potential delays in payments or lack of visibility into supplier practices
could strain partnerships, impact service quality, and contribute to poor
labour conditions within the value chain.

Ethics &
Integrity
Potential incidents of corruption or bribery could erode colleague morale
and trust, and may normalise unethical behaviour, undermining Verisure’s
integrity, leadership credibility, and its role as a responsible employer.

ESRS Verisure
Material Topic Impacts Type of
Impact
Value Chain
Location
Time
Horizon
Financial Materiality
Environment
Risk
Upstream
Short term (real)
Social
Opportunity
Own operations
Medium term (potential)
Governance
Downstream
Long term (potential)
E1
Climate
Change
Potential stricter regulations on emissions, energy efficiency, or product
sustainability, combined with potential taxes on carbon emissions could
force the Company to make costly operational and product adjustments,
increasing production, energy, and transportation costs.

Climate
Change
Increased frequency of extreme weather events (e.g. floods, storms,
heatwaves) could damage third-party infrastructure or disrupt Verisure’s
operations and service delivery in affected regions, leading to unplanned
repair costs, service interruptions, and customer dissatisfaction.

E5
Product
Lifecycle
Management
& Circularity
Investing in advanced refurbishment techniques allows Verisure to repair
products previously considered waste, enabling the recycling of individual
components and reducing material costs while supporting circular
economy goals.

ESRS Verisure
Material Topic Risks and Opportunities Risk or
Opportunity
Value Chain
Location
Time
Horizon
Sustainability Statement
Our Sustainability Strategy continued
168 Verisure plc | Annual Report 2025

===== SIDA 171 =====

S1
Diversity,
Equity,
Inclusion
& Belonging
(DEIB)
Promoting a diverse and inclusive workplace fosters innovation, enhances
problem-solving, and improves brand reputation – opening new market
opportunities and increasing access to diversity-linked funding. By
implementing DEIB initiatives, we foster an inclusive culture where
colleagues feel respected and valued, leading to higher engagement,
reduced turnover, and stronger team performance. Diverse teams
broaden perspectives, fuelling innovation and driving sustainable
competitive advantage.

Employee
Health, Safety,
& Well-being
Implementing a well-established company-wide Health & Safety
Management System – supported by measures such as regular training,
ergonomic equipment, and smart incident monitoring – enables data-
driven decision-making, reduces workplace accidents and injuries, lowers
insurance and legal exposure, and strengthens the Company’s value
proposition.

Talent
Management
and
Sustainable
Engagement
The ongoing global shortage of tech talent, combined with rapid
innovation in digital security and automation, may hinder Verisure’s
ability to reskill or upskill its workforce quickly enough. This could lead to
project delays, increased outsourcing costs, and reduced competitiveness,
ultimately impacting revenue growth and operational efficiency.

Employee
Relations
Potential insufficient communication with colleagues or ineffective social
dialogue mechanisms could lead to labour strikes or collective disputes.
These disruptions can result in service gaps, customer dissatisfaction and
ultimately, in revenue losses and operational inefficiencies.

S2
Sustainable
Sourcing
Our Supplier Standards and Ethical Code promote fair labour practices
and safe conditions across the value chain, strengthening workforce
stability, supporting service quality, and reducing legal or reputational
risks while creating long-term value.

Sustainable
Sourcing
Potential sub-par sustainability performance among our suppliers and
across the broader value chain could lead to reputational harm and
potential ESG regulatory enforcement.

S4
Best-in-Class
Protection &
Peace of Mind
Attracting and retaining customers through a superior value proposition
when compared to competitors, offering innovative products with a high
degree of safety.

Best-in-Class
Protection &
Peace of Mind
Designing simplified and affordable alarm and security service packages
tailored to the needs of specific customer segments – such as elderly
people, persons with disabilities, or single-parent households – enhances
accessibility, promotes social inclusion, and broadens Verisure’s market
reach while strengthening customer satisfaction and brand loyalty.

Best-in-Class
Protection &
Peace of Mind
Sudden decommissioning of third-party networks (e.g. 2G/3G shutdowns)
may require premature replacement of customer equipment, leading to
unforeseen capital expenditure and operational disruption, with potential
impact on customer satisfaction and retention.

Best-in-Class
Protection &
Peace of Mind
Scaling digital channels can increase market reach, boost sales,
and enhance brand visibility across geographies.

Data Privacy &
Cybersecurity
Potential violations of personal data protection could trigger severe
financial consequences and damage the Company's public image.

Data Privacy &
Cybersecurity
Lack of cybersecurity controls could lead to infringement of regulations
and other compliance requirements.

ESRS Verisure
Material Topic Risks and Opportunities Risk or
Opportunity
Value Chain
Location
Time
Horizon
Strategic Report Corporate Governance Financial Statements Sustainability Statement Additional Information
Verisure plc | Annual Report 2025 169

===== SIDA 172 =====

S4
Data Privacy &
Cybersecurity
Cybersecurity vulnerabilities in connected devices could result in
unauthorised access or personal harm, leading to serious reputational
and financial consequences.

Digitalisation
& AI
Leveraging AI and digital tools can optimise operations, reduce costs, and
enable hyper-personalised customer experiences, which can
significantly enhance brand differentiation and profitability.

Digitalisation
& AI
Misuse or lack of transparency in AI systems can lead to ethical
concerns, regulatory scrutiny, and public backlash, potentially resulting
in financial penalties and reputational damage.

G1
Ethics &
Integrity
Failure to maintain trust in whistleblowing mechanisms or to protect
whistle-blowers from retaliation can discourage reporting, allowing
unethical practices to persist and exposing the Company to legal and
reputational consequences.

Ethics &
Integrity
Any perceived lack of transparency or undue influence through industry
associations may raise stakeholder concerns about lobbying practices,
potentially affecting Verisure’s reputation and trust.

Ethics &
Integrity
Certifications such as ISO 37001 (Anti-bribery Management Systems) can
strengthen Verisure’s credibility with institutional clients, investors, and
public bodies, enhancing its ability to compete for more public tenders
and obtain better financial results.

Ethics &
Integrity
A potential tax non-compliance with applicable fiscal legislation could
result in significant unplanned liabilities, including penalties, interest, and
reputational damage, posing a direct risk to the Company’s profitability
and cash flow.5

ESRS Verisure
Material Topic Risks and Opportunities Risk or
Opportunity
Value Chain
Location
Time
Horizon
From the perspective of ESG-related material impacts, we are
proud that our core business generates several significant
positive impacts on our customers, colleagues, suppliers, and
society at large. We provide services that enhance the safety
and security of our customers within the communities we serve,
creating tangible social benefits. We also have a positive impact
on our people by offering professional opportunities that foster
a sense of personal accomplishment, providing opportunities
for personal growth and development, and cultivating a
supportive, engaging, and inclusive working environment that
promotes health and well-being. We promote environmental
and human rights protection in our suppliers, which also
impacts their communities. We do all this while following high
ethical standards and respecting our stakeholders’ trust.
However, we are aware of the potential negative impact that
improper management of data privacy or cybersecurity could
have on our customers, business, and colleagues. We are also
aware of the environmental impact of our operations, including
GHG emissions, the use of natural resources in our supply
chain, and the waste we generate.
The timelines for the impacts are short-term, medium-term,
and long-term. Our involvement in these impacts is twofold.
Some are directly from our operational activities, such as
protection provided, energy consumption, and waste
generation, while others stem from our business relationships,
particularly within our supply chain. Through the development
of our ESG strategy, we holistically address our impact, defining
our commitments for each of our ESG-related material topics.
Our identification of IROs has followed the associations
outlined in the ESRS Regulation, as set out in ESRS 2 AR 16. We
closely monitor the effects of our ESG-related material impacts,
risks, and opportunities on our business model, value chain,
and strategy to inform adjustments when necessary.
Our business model and strategy are inherently linked to our
most material social impact – the provision of monitored
security solutions. The topics and IROs identified under S4
(Customers and End-Users) are directly reflected in our 2025
financial statements, as they relate to our core business
activities, revenue generation, operating performance, and
associated assets and liabilities. Sustainability-related risks
and opportunities under S4 are therefore embedded in current
revenues, margins, investments, and cash flows.
At the reporting date, except for S4, no material adjustments
to the carrying amounts of assets and liabilities have been
identified as arising specifically from sustainability-related
risks and opportunities, nor has a significant risk of material
adjustment within the next annual reporting period been
identified.
In contrast, the IROs identified under S1 (Own Workforce) and
S2 (Workers in the Value Chain) are primarily ongoing and
integrated into our operational management and long-term
strategy. These opportunities and risks relate to human capital
development, responsible supply chain management, employee
engagement, and community trust. Their financial effects are
reflected over time through productivity, cost structure,
resilience, risk mitigation, and sustainable growth, rather than
Sustainability Statement
Our Sustainability Strategy continued
170 Verisure plc | Annual Report 2025
5) This risk is considered entity-specific, since it is not directly included in AR 16 of the ESRS as a topic or subtopic. Additional information on tax-related risks, governance and
controls is provided in G1 Ethics & Integrity – A Responsible Approach to Tax.

===== SIDA 173 =====

as discrete or separately identifiable financial line items.
Monitoring is embedded in our business planning, ERM and ESG
governance processes, with regular oversight by Management
and the Board.
In particular, regarding Climate Change, we have updated our
scenario analysis, which enables us to foresee potential
measures to mitigate the identified risks. For further details,
refer to the E1-ESRS 2 IRO-1:
Scenario Analysis section in the E1
Climate Change chapter. At this stage, we have not conducted
a separate resilience analysis beyond the climate-related
resilience assessment already performed, and do not plan to
undertake additional ones in the short term, as our current
focus remains on strengthening scenario-based assessments
and integrating climate considerations within our broader risk
management processes. Our assessment has not identified
specific activities, business relationships, or geographic areas
requiring differentiated disclosure. Greater emphasis is placed
on risks captured within the ERM Framework, reflecting their
higher level of financial materiality.
XXX
Our Double Materiality Assessment
IRO-1
Process
Overview
In accordance with the ESRS, we identify and assess
sustainability matters that have, or could have, material
impacts on people and the environment, as well as those that
may give rise to material risks and opportunities for our
business. These IROs may arise from our own operations or
across our upstream and downstream value chain, regardless
of proximity or contractual relationship. The DMA covers all
markets and geographies in which Verisure operates, reflecting
our global operational footprint.
Our DMA has been designed to identify our material IROs
and, consequently, determine the sustainability matters and
disclosure requirements applicable to this Sustainability
Statement. The DMA is reviewed on an ongoing basis and
formally reviewed and validated by senior management and
relevant governance bodies as part of our annual reporting
cycle.
We followed a structured, multi-step process aligned with ESRS
1, ESRS 2, and the related EFRAG’s implementation guidance,
building on the expertise and insights gained from previous
reporting cycles.
STEP 1:
IDENTIFICATION OF POTENTIALLY RELEVANT IROS
We identified a comprehensive list of potentially relevant IROs
using a combination of regulatory and standard-setting
references (including ESRS and AR 16), previous sustainability
reports, internal risk documentation, peer benchmarking,
sector-specific standards, rating agency methodologies, and
documentary analysis. Internal experts from relevant business
areas were involved to support the accurate reflection of entity
and sector-specific characteristics.
As part of this step, we defined and documented our value
chain. Our assessment includes a systematic screening of our
activities and assets across the full value chain, covering
upstream, own operations, downstream, and cross-value-chain
activities, focusing on the most relevant phases and sub-phases
where material impacts, risks and opportunities may occur.
Potential IROs were mapped to the value chain and assessed
across short-, medium-, and long-term time horizons6.
ESRS Material Topic Verisure Material Topic
Environmental E1 - Climate change Climate Change
Environmental E5 - Circular
economy
Product Lifecycle
Management &
Circularity
Social S1 - Own workforce
Diversity, Equity,
Inclusion & Belonging
(DEIB)
Social S1 - Own workforce Employee Relations
Social S1 - Own workforce Employee Health, Safety
& Well-being
Social S1 - Own workforce Talent Management and
Sustainable Engagement
Social S2 - Workers in the
value chain Sustainable Sourcing
Social S3 - Affected
communities Community Impact
Social
S4 - Customers and
end-users
Best-in-Class Protection
& Peace of Mind
Social
S4 - Customers and
end-users
Data Privacy &
Cybersecurity
Social
S4 - Customers and
end-users Digitalisation & AI
Governance G1 - Business
conduct Ethics & Integrity
STEP 2:
IMPACT MATERIALITY ASSESSMENT
We assessed each potentially relevant impact to determine
whether it was material. Impacts were considered both positive
and negative, and both actual and potential, across the
environment and society.
The assessment considered the scale, scope, and remediability
of impacts (severity), as well as likelihood, where applicable. In
the case of potential adverse human rights impacts, severity
was given priority over likelihood. Impacts were assessed on a
gross basis, without netting positive impacts against negative
ones, and across the value chain. Information for this step was
collected from both direct sources (surveys, interviews, and
consultations) with relevant stakeholders and indirect sources
(industry benchmarks, documentary analyses, and research).
Strategic Report Corporate Governance Financial Statements Sustainability Statement Additional Information
Verisure plc | Annual Report 2025 171
6) Time horizons applied in the assessment are aligned with those used in the Financial Statements: short term refers to less than one year, medium term to one to five years,
and long term to more than five years.

===== SIDA 174 =====

STEP 3:
FINANCIAL MATERIALITY ASSESSMENT
In parallel, we assessed the financial materiality of risks and
opportunities, including those connected to identified impacts
and dependencies, to determine whether they could reasonably
be expected to affect our financial position, performance, cash
flows, or future prospects.
This assessment was informed by our existing ERM processes
and internal financial expertise. The DMA was conducted using
a dedicated methodology, criteria and thresholds distinct from
those applied within the ERM Framework. While ERM primarily
assesses risks from a financial perspective, the DMA applies a
double materiality approach, considering both financial effects
and Verisure’s impacts on society and the environment. The
DMA process also incorporates structured stakeholder
engagement and a broader range of internal and external
inputs, resulting in a different scope, perspective, and time
horizon compared to ERM.
Within this framework, risks and opportunities were evaluated
based on their potential magnitude and likelihood across
short-, medium-, and long-term horizons, using assumptions
aligned with sustainability reporting requirements rather than
ERM risk scoring scales. The DMA materiality thresholds are
lower than ERM thresholds, and its outcomes provide
complementary input that may inform the identification and
prioritisation of ESG-related risks and opportunities within the
ERM Framework over time, while ERM insights also contribute to
the financial materiality assessment under the DMA.
STEP 4:
VALIDATION, THRESHOLDS, AND MAPPING TO DISCLOSURE
REQUIREMENTS
The outcomes of the impact and financial materiality
assessments were consolidated and reviewed internally.
Quantitative and qualitative thresholds were applied to
determine which IROs were material for reporting purposes,
taking into account their relative significance and strategic
relevance. Thresholds were defined by IRO typology, and, where
a purely quantitative selection was not conclusive, qualitative
thresholds were applied, taking into account strategic
considerations.
The results of the DMA were validated with relevant internal
experts, including heads of key internal functions involved in
the identification, assessment and validation of IROs, and
reviewed by the Management Team and the ESG governance
bodies. The final set of material IROs was then mapped against
the disclosure requirements of the ESRS to determine the
applicable topical standards, disclosure requirements, and data
points. An information materiality assessment (IMA) was
subsequently performed to identify material disclosures at the
disclosure requirement and data point level.
Governance and Integration
The DMA process and its outcomes, including the interests and
views of affected stakeholders and users of the Sustainability
Statement, are communicated through the ESG governance
structure, including the ESG Committee, the Management Team,
and the Board. Relevant internal and external stakeholders are
involved in both the identification and assessment of IROs.
The results of the DMA inform our sustainability reporting,
risk management processes, and strategic decision-making.
Internal Control
Internal control procedures around the DMA are embedded
within Verisure’s ESG Framework and associated Reporting
Process. As part of the DMA, ESG-related IROs are identified and
assessed using defined criteria, enabling a structured and
consistent approach to ESG risk management. These
procedures are supported by documentation of the DMA
methodology and the reporting process, providing evidence
and oversight for the identification, validation, and monitoring
of material IROs across the organisation.
Topic-specific materiality descriptions
• E1 – Climate change
Climate-related impacts, risks, and opportunities were
identified through Verisure’s DMA described in ESRS 2 IRO-1.
The assessment screened activities, assets, and business plans
across own operations and the value chain to identify sources
of GHG emissions and other climate drivers, including the
vehicle fleet, energy use in buildings, purchased goods and
services, logistics activities, and reliance on third-party
infrastructure.
Both current impacts (Scopes 1, 2 and 3 emissions) and
potential future impacts linked to business growth, technology
choices, energy-mix evolution and supply-chain configuration
were analysed.
Climate risks and opportunities were assessed through scenario
analysis across short-, medium-, and long-term horizons using
a range of pathways: a 1.5°C scenario, an intermediate policy-
ambition scenario and a high-emission pathway aligned with
approximately 4°C warming (IPCC-consistent). Physical hazards
such as heat, flooding, storms, and water stress were assessed
considering geographic exposure and reliance on critical
infrastructure. Transition events including regulatory changes,
carbon pricing, supply-chain decarbonisation, and
technological developments were analysed to evaluate
potential operational and financial implications.
• E2, E3 and E4 – Pollution, water and biodiversity
Topics E2 (Pollution), E3 (Water and Marine Resources) and E4
(Biodiversity and Ecosystems) were assessed within Verisure’s
DMA using the ESRS methodology to identify potential IROs
across own operations and the value chain.
The assessment included a screening of Verisure’s operational
footprint, activities and supply-chain characteristics to identify
potential interactions with pollution sources, water resources
and biodiversity. This analysis considered the service-based
nature of Verisure’s business model, the absence of
manufacturing activities in own operations and the limited
environmental footprint of its sites.
Sustainability Statement
Our Sustainability Strategy continued
172 Verisure plc | Annual Report 2025

===== SIDA 175 =====

Potential IROs identified through internal analysis and sector-
based risk mapping were assessed using available internal
information and input from relevant internal stakeholders.
Factors considered included operational exposure, potential
scale of environmental impact, geographic context, and
upstream supply-chain characteristics.
Based on this assessment, IROs related to these topics were
considered limited and therefore deprioritised for the current
reporting cycle.
• E5 – Resource use and circular economy
IROs related to resource use and circular economy were
assessed through Verisure’s DMA, focusing on resource inputs,
product lifecycle management and waste across the value
chain.
The analysis reviewed activities such as product design,
procurement, logistics and end-of-life management of security
devices used in Verisure’s services. Particular attention was
given to opportunities to extend product life and improve
recyclability through refurbishment and reverse-logistics
processes.
Internal functions including Technology, Procurement and
Supply Chain, Sales and Operations, Finance, Legal, HR, and
ESG contributed to the identification and evaluation of circular-
economy initiatives and potential risks linked to resource
availability, waste management, and regulatory developments.
• G1 – Business conduct
Business conduct-related IROs were identified through
Verisure’s DMA and ongoing compliance risk management
processes.
The assessment considered criteria such as the geographic
footprint of operations, the nature of activities in the security
services sector, organisational structure and key relationships
with customers, suppliers and partners across the value chain.
Input from internal stakeholders including Legal, Compliance,
HR, Finance, Procurement and ESG teams supported the
identification of governance-related impacts and risks,
particularly in areas such as ethical conduct, corruption and
bribery, transparency, whistleblowing mechanisms, and
supplier relationships.
These IROs were evaluated in relation to Verisure’s governance
framework, including the Compliance Programme, the Code of
Conduct and related policies, allowing the Company to identify
both positive impacts associated with a strong culture of
integrity and risks arising from potential misconduct or
governance failures.
Continuity and Emerging Digital Focus
The DMA results at the topic level remain broadly consistent
with the previous assessment. However, a new topic under
S4 – Digitalisation & Artificial Intelligence has been included,
reflecting its increasing importance for our sector and our
business.
Scope and Coverage of ESRS
IRO-2
Disclosures Based on Materiality
Verisure has applied qualitative and quantitative thresholds in
line with the criteria established in Section 3.2 of ESRS 1 on
Material Matters and Materiality of Information to determine
the material information to be disclosed regarding impacts,
risks, and opportunities assessed as significant. Once ESG-
related material IROs and topics were identified, we followed
the structured process outlined in Appendix E of ESRS 1 to
determine the necessary disclosures.
Verisure then assessed whether relevant policies, actions,
or targets were in place for each material topic. An IMA was
subsequently performed in line with ESRS guidance and AR 16
to evaluate the materiality of specific Disclosure Requirements
(DRs) and individual Data Points (DPs), based on the nature and
characteristics of each IRO. Where DRs or DPs were deemed
material, the required information has been included in this
report in alignment with paragraph 34(a) of ESRS 1, while non-
material DPs were omitted in accordance with paragraph 34(b).
11
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===== SIDA 176 =====

E1
Environmental Disclosures
Climate Change
Transition Plan For Climate E1-1 E1-8
Change Mitigation & Internal Carbon
Pricing
We remain committed to reaching Net Zero GHG emissions
by 2050 and achieving a reduction of 40% in GHG emission
intensity per million euro of revenue across our three scopes
by 2030 compared to our 2021 baseline. We still plan to source
more than 80% of the electricity consumed in our buildings
from renewable sources by 2030. Achieving Net Zero by 2050
requires the progressive reduction of absolute GHG emissions
across Scope 1, 2 and 3, with carbon offsetting used only for
residual and unavoidable emissions.
In line with prevailing Net Zero frameworks and the objectives
of the Paris Agreement, our long-term ambition implies
substantial absolute emission reductions across all scopes
prior to 2050, with offsetting applied only to a limited share of
residual emissions. While our current 2030 target is formulated
on an emission-intensity basis and therefore does not meet the
1.5°C absolute reduction methodology defined by the Science
Based Targets initiative (SBTi), the 2050 Net Zero ambition is
intended to be consistent with economy-wide decarbonisation
pathways that aim to limit global warming to 1.5°C.
We consider 2021 to be a representative baseline year, with no
significant anomalies in our business affecting target ambition.
As described in prior disclosures and confirmed for the 2025
reporting cycle, the absence of a dedicated pathway within
the SBTi for our business model would require us to apply the
absolute reduction method proposed by SBTi for our near-term
targets. This method requires companies to reduce Scope 1
and 2 emissions by 42% in absolute terms from 2021 to 2030.
However, this reduction level does not align with our current
business growth trend, preventing alignment with the Paris
Agreement. To strengthen delivery, in 2025, we introduced
quarterly monitoring of Scope 1 and 2 emissions, enabling the
identification of deviations from our transition trajectory and
supporting corrective actions.
Implementing the Company’s transition plan does not require
material incremental CapEx or OpEx. Climate-related actions
are delivered primarily through the reallocation of existing
operating and leasing expenditure rather than new investment.
Scope 1 decarbonisation is embedded in the regular three- to
four-year fleet-leasing cycle, while Scope 2 actions relate
mainly to renewable-electricity procurement and building-
energy-efficiency improvements funded through existing
operating and investment budgets. Scope 3 actions focus on
supplier engagement, product energy-efficiency improvements,
and logistics optimisation and rely predominantly on
operational measures rather than capital investment. The
transition is managed prudently to mitigate operational risks,
including those related to vehicle autonomy and charging
infrastructure availability. Operational expenditures supporting
the transition plan mainly relate to fleet-related operating
costs, renewable-electricity procurement, routing-efficiency
measures and supplier-engagement activities. Electricity
procurement, including renewable electricity, is treated as
part of standard operating activities and is not considered
taxonomy-eligible OpEx. Capital expenditures associated with
the transition plan primarily relate to building energy-efficiency
upgrades and the progressive transition of the vehicle fleet
within normal renewal cycles, and are managed within existing
CapEx planning processes without material incremental
investment.
We have already incorporated carbon pricing as a criterion in
the selection of our vehicle fleet during an RFQ7 with vehicle
leasing companies. The Company applies an internal shadow
price in pilot form to support selected procurement decisions,
beginning with fleet-related RFQs at the global level within the
consolidated reporting perimeter. The internal carbon price
(ICP) has been set at €65 per tCO2eq, informed by prevailing
EU ETS8 price ranges and forward-looking climate-policy
expectations under IEA scenario pathways. Our plan is to
extend carbon pricing to other relevant RFQs and to keep
using the carbon price set by the EU ETS as a reference. The
ICP is a managerial decision-support tool and is not used in
determining measurement bases, provisions or valuation
assumptions in the financial statements. During the pilot phase,
less than 5% of gross Scope 1 emissions are covered, while
0% of gross Scope 2 and 3 emissions are currently covered.
Sustainability Statement
174 V e r i s u r e p l c | A n n u a l R e p o r t 2 0 2 5
7) Request for Quotation.
8) Emission Trading System.

===== SIDA 177 =====

Coverage and related emission volumes will be disclosed as
the scheme expands to additional procurement categories
and planning cycles.
The transition plan is embedded in the Company’s overall
business strategy and financial planning. Climate-related
considerations are integrated into operational and investment
decisions, including fleet renewal, energy procurement,
supplier engagement, and product and service design.
The transition plan is implemented primarily through the
reallocation of existing operating and capital expenditures
and is therefore aligned with the Company’s growth strategy
and financial planning horizon.
The transition plan is overseen by the ESG Operative
Committee, which reports to the Management Team.
Progress is reported to and discussed by the ESG
Committee, chaired by an independent Board member.
During the reporting period, the Company continued to
implement its transition plan, with progress achieved mainly
through the gradual transition of the vehicle fleet to lower-
emission vehicles, an increased share of renewable electricity
in corporate buildings and ongoing supplier engagement to
address Scope 3 emissions. These actions contributed to a
continued reduction in greenhouse gas emission intensity
compared to the base year.
The Company is not excluded from the EU Paris-aligned
Benchmarks in accordance with the exclusion criteria.
As mentioned in the EU Taxonomy Reporting
section, Verisure
has assessed the eligibility of its economic activities and
identified Taxonomy-eligible activities. We have identified no
Taxonomy-eligible activities related to turnover, as security
services are not currently included within the EU Taxonomy
activity list. However, certain CapEx and OpEx expenditures are
associated with Taxonomy-eligible activities under the Climate
Change Mitigation objective, including 1.2 Manufacture of
electrical and electronic equipment, 6.5 Transport by
motorbikes, passenger cars and commercial vehicles, and
7.7 Acquisition and ownership of buildings. Consequently, 0%
of our turnover is currently classified as Taxonomy-eligible,
while 65% of CapEx and 99% of OpEx relate to Taxonomy-
eligible activities.
In line with ESRS requirements, we have not identified material
adverse impacts on our workforce arising from our transition to
lower-emission and climate-neutral operations. The transition
does not require significant new skills or workforce
restructuring. For further details, please refer to the
Our Business Model
section.
Our Transition Plan in the Three Scopes
Main goals: Main sources of emissions for each scope:
2030
Emission
intensity
reduction
40% reduction in GHG
emission intensity per
million euro of revenue in
our 3 Scopes vs. 2021
2050
Net Zero
By 2050, we pledge to
attain Net Zero emissions,
addressing any residual
emissions at that time by
implementing offsetting
initiatives
Scope 1
Vehicle Fleet
Scope 2
Electricity
Consumption
Scope 3
Purchased Goods
and Services
Reduction Levers
• Transition to a lower
emission vehicle fleet
• Optimise distance travelled
Reduction Levers
• Increase use of renewable
energy
• Energy efficiency
• Greener electricity grids
Reduction Levers
• Strategic supplier engagement
• Alternative greener nonstrategic
supplier discovery
• Energy efficiency projects and
decarbonisation of electricity grids
• More percentage of sea and rail
transportation
• Sustainable ways of commuting
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===== SIDA 178 =====

We have maintained our efforts in leveraging the
decarbonisation strategies identified for each of our scopes:
Scope 1: GHG Emissions
Our primary source of Scope 1 emissions is the fossil fuel
consumed by our vehicle fleet, mainly used by our sales teams
and technicians.
Our challenge is twofold: to reduce emissions per kilometre
travelled and to limit the total distance driven, all while
continuing to deliver high-quality customer service.
To achieve our 2030 targets, we need to transition to a lower-
emission vehicle fleet, optimise routing efficiency, and reduce
unnecessary on-site visits, while maintaining or improving the
customer experience.
Fleet electrification requires not only technological readiness
but also operational feasibility, particularly in terms of vehicle
range, charging time, and the availability of public charging
points. The adequacy and reliability of charging infrastructure
remain critical factors in enabling large-scale electrification of
our fleet. As noted in the Global Electric Vehicle Outlook 2025
report9 published by the IEA: Electric vehicle affordability has
improved significantly over the past decade, mainly due to
declining battery costs, increased competition and economies
of scale. In 2024, global average battery pack prices fell by more
than 25% compared with 2023, despite a slight increase in
average battery size. However, price trends vary across markets
depending on competition, pricing strategies and market
maturity.
While leasing electric cars may become more affordable in the
coming years, caution remains necessary when transitioning to
an electric fleet, given the current state of public charging
infrastructure and the time needed to charge vehicles.
According to the IEA10, the number of public charging points in
Europe grew by more than 35% in 2024, reaching just over 1
million. However, deployment remains uneven across countries.
The IEA also reports that, on average, there is one public
charging point for every 13 electric cars in the European Union.
Despite recent growth, the uneven distribution of charging
points and long charging times continue to pose a risk of
service disruption to our customers, potentially affecting our
ability to serve them effectively.
The European Commission has set a goal of 3.5 million public
charging points by 2030, while industry projections by ACEA11
(European Automobile Manufacturers' Association) suggest that
up to 8.8 million chargers may be required to support large-
scale vehicle electrification. Achieving these targets would
require installation rates significantly above current trends.
We usually renew our entire fleet every three to four years
through car leasing companies. This renewal cycle gives us the
flexibility to transition to electric vehicles once infrastructure
constraints have been sufficiently addressed. While short-term
deployment will remain cautious and tailored to each country,
we anticipate a significant acceleration in fleet decarbonisation
from 2035 to 2040 onwards.
To reduce the number of kilometres required for our
operations, we continually assess the optimal balance between
DIY (Do-It-Yourself) services and dispatching technicians to
customers' homes and businesses. We aim to expand the range
of services that customers can do themselves, thereby reducing
maintenance needs, lowering emissions, and enhancing both
customer satisfaction and operational efficiency. We are also
exploring alternative sales and service channels that lessen the
need for physical visits.
Transitioning to a lower-emission fleet does not require
significant extra capital or operating expenditure. It involves
a gradual reallocation of existing leasing expenditure. We
manage this transition with caution to avoid operational risks
related to vehicle range and charging availability.
Scope 2: GHG Emissions
We aim to reduce emissions from electricity consumption at our
facilities by implementing three complementary measures.
First, we progressively increase the proportion of renewable
electricity we use, primarily by purchasing Guarantees of Origin,
with a target of 80% renewable electricity across our corporate
buildings by 2030.
Second, we plan to improve our energy efficiency. By reducing
the energy required for our business activities, we will minimise
electricity consumption, thereby lowering our Scope 2
emissions.
Third, we will benefit from the ongoing decarbonisation of
national electricity grids, which will further reduce our residual
Scope 2 emissions over time.
80%
OF ELECTRICITY FROM RENEWABLE SOURCES IN OUR
CORPORATE BUILDINGS (2030 TARGET)
Scope 3: GHG Emissions
We employ a variety of strategies to address our indirect
emissions, particularly focusing on different categories of
Scope 3 emissions:
• Purchased goods and services: As the main contributors to
our Scope 3 emissions, we aim to reduce these by improving
our supplier engagement. We differentiate between key
manufacturing suppliers and other non-strategic suppliers.
Our level of influence determines how much we can involve
a supplier in setting targets. Consequently, we will explore
alternative options with lower emissions for non-strategic
suppliers. Additionally, as outlined in the Verisure
Environmental Policy, we will increasingly incorporate carbon
Sustainability Statement
Environmental Disclosures continued
176 Verisure plc | Annual Report 2025
9) ‘Global EV Outlook 2025’.
10) ‘Global EV Outlook 2025 - Electric vehicle charging’.
11) ‘Charging ahead: accelerating the roll-out of EU electric vehicle charging infrastructure’.

===== SIDA 179 =====

pricing into all relevant RFQs whenever possible, so that
emissions become a key factor in our decision-making
processes.
• Use of sold products: We benefit from energy efficiency
advancements within our pipeline and from the gradual
decarbonisation of the electricity grid that powers our
devices. Regarding emissions resulting from emergency
service call-outs – such as police, fire brigade, or ambulance
services – we rely on the decarbonisation plans of public
bodies.
• Fuel and energy-related activities: We will reduce our
emissions by transitioning to a lower-emission vehicle fleet.
• Upstream transportation and distribution: By promoting sea
and rail transport over air and road, we are significantly
reducing our transport and distribution emissions from our
2021 base year.
• Employee commuting: Our strategy begins by raising
awareness among our colleagues of the carbon footprint
associated with their commuting. We also encourage
sustainable commuting options, such as car-sharing and
public transport. Our investment in flexible working
arrangements enables many of our colleagues to work from
home on various days, positively impacting our GHG footprint.
• Franchises: We work closely with our partners to coordinate
their emissions reduction progress alongside our own,
helping us remain on track to meet our targets.
In addition to these reduction strategies, we also consider
locked-in emissions: future carbon dioxide emissions arising
from decisions made today.
We recognise that many of our customers stay with us for many
years, so we factor locked-in emissions into our climate
strategy. This includes the GHG emissions from powering our
alarm devices connected to the electricity grid. In addition to
ongoing improvements in energy efficiency, we expect the
energy mix in each country's grid to improve as fossil fuel use
declines, in line with the National Determined Contributions
(NDCs) of all signatory countries to the Paris Agreement. In
summary, we do not believe that these locked-in emissions will
jeopardise our transition plan or our Net Zero commitment, as
they are linked to the collective responsibility of each country
to reduce emissions from its power generation assets.
Material Climate Change IROs
E1-ERS 2 SBM-3
As outlined in the ESRS 2 IRO-1: Our Double Materiality Assessment Process section of Our Sustainability Strategy chapter, we have
identified Climate Change as one of our ESG-related material topics.
Our identified IROs related to Climate Change are presented below. The legend explaining the type of IRO, value chain location and
time horizon is provided in section ESRS 2 SBM-3: Our Material Impacts, Risks and Opportunities.
ESRS Verisure
Material Topic Impacts, Risks, and Opportunities Type of
IRO
Value Chain
Location
Time
Horizon
E1
Climate
Change
Potential limitations to our ability to serve customers and fulfil our
protective role caused by climate-related hazards causing business
interruptions.

Climate
Change
Contribution to climate change through GHG emissions, mainly from our
vehicle fleet and supply chain.

Climate
Change
The depletion of natural resources caused by the energy consumption
from non-renewable sources.

Climate
Change
Potential stricter regulations on emissions, energy efficiency, or product
sustainability, combined with potential taxes on carbon emissions could
force the Company to make costly operational and product adjustments,
increasing production, energy, and transportation costs.

The risks presented above include both physical and transition
climate-related risks. Physical risks arise from acute or chronic
climate hazards, such as extreme weather events and long-term
climate change impacts, while transition risks arise from
regulatory, market, technological, or reputational
developments associated with the transition to a low-carbon
economy. In this context, risks related to extreme weather
events and infrastructure disruption are classified as physical
risks, whereas risks related to stricter regulation, carbon
pricing, and decarbonisation requirements are classified as
transition risks.
Our environmental commitment is founded on a structured
assessment of climate-related IROs that affect our business and
value chain. In line with the Corporate Sustainability Reporting
Directive (CSRD) and Task Force on Climate-related Financial
Disclosures (TCFD) frameworks, we identify climate-related risks
that could affect our operations, strategy and long-term
financial performance. Climate-related physical and transition
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===== SIDA 180 =====

risks are identified and assessed using scenario-analysis
outputs. For transition risks, the assessment primarily applies
IEA Net Zero Emissions (1.5°C) and IEA Stated Policies (2.6°C)
scenarios to evaluate carbon-price trajectories and regulatory
developments. For physical risks, the assessment applies a
high-emission scenario aligned with an approximately 4°C
global warming pathway (IPCC SSP5-8.5) to assess increased
frequency and intensity of climate hazards. Additionally, we
have used other scenarios to analyse climate-related hazards.
Scenario-analysis outputs are considered across short-,
medium-, and long-term time horizons and form the basis for
the Company’s climate-related resilience analysis, supporting a
consistent and comparable evaluation of climate-related risks
and opportunities.
Climate-related Impacts,
Risks, and Opportunities
Climate Change Mitigation, Energy Efficiency, and Energy
Use
The main impacts identified in these areas are as follows:
• Our vehicle fleet and supply chain contribute to climate
change through GHG emissions.
• Relying on non-renewable energy sources depletes natural
resources.
Recognising the need to minimise these negative impacts, we
are actively pursuing the reduction strategies outlined in the
subsection titled Our Transition Pla
n in the Three Scopes. We
also aim to decrease our overall energy consumption through
energy efficiency measures, especially in our buildings. By using
renewable energy, we will not only lower emissions but also
help prevent the depletion of natural resources.
The main risks we have identified relating to climate change
mitigation, energy efficiency, and energy use include:
• Higher costs resulting from rising electricity and fuel prices
driven by global decarbonisation requirements.
• Economic losses and slower progress due to challenges in
managing and implementing new energy initiatives.
Climate Change Adaptation
a) Climate-related Physical Risks
The potential negative impacts of climate change – both
chronic and acute – include temperature fluctuations, water-
and wind-related events, and solid mass incidents resulting
from sudden changes in climate balance.
These threats could significantly impact the quality of life of our
customers and colleagues. As a result, we must exercise caution
in selecting locations and managing our corporate buildings,
branches, and vehicle fleets. Verisure depends on third-party
infrastructure to maintain constant connectivity to our alarm
monitoring operations, and this infrastructure could be
compromised by climate change hazards.
Currently, we do not consider climate-related physical risks to
pose a material threat to our business overall. Although
physical hazards were identified under high-emission
scenarios, none were currently assessed as financially material
at the consolidated global level.
In 2024, Verisure conducted an initial climate-related resilience
assessment as part of its Climate Change Risk Assessment and
Transition Plan. The assessment covered 100% of the entire
consolidated Company’s operations and included all material
business units or geographies. The scope of the analysis
encompassed the Company’s key assets and activities,
including vehicle fleet operations (Scope 1), electricity
consumption in corporate buildings (Scope 2), relevant Scope 3
categories such as purchased goods and services, corporate
branches, proprietary technology systems, and reliance on
critical third-party infrastructure such as telecommunications
networks. No material segments of the business model or value
chain were excluded from the assessment. The resilience
assessment was based on a structured qualitative analysis
aligned with ESRS and TCFD climate-risk categories and
informed by scenario-analysis outputs under the IEA Net Zero
Emissions, Announced Pledges and Stated Policies scenarios,
assessed across short-, medium- and long-term time horizons
including consideration of a high-emission climate scenario
aligned with an approximately 4°C global warming pathway
consistent with the Intergovernmental Panel on Climate Change
(IPCC) high-emissions scenarios (SSP5-8.5), reflecting an
increased frequency and intensity of physical climate hazards
over the medium-, and long-term. The assessment followed a
defined process comprising: identification of relevant physical
and transition climate hazards under each scenario; screening
of assets, operations, and value-chain activities for exposure;
qualitative assessment of sensitivity and potential operational
and financial implications; and evaluation of existing mitigation
measures and strategic response capacity.
The initial assessment was performed during 2024 and forms
part of the Company’s ongoing climate risk management
process. In 2025, we completed an initial climate risk analysis
using AXA Climate’s Altitude platform. This first analysis
provides preliminary scenario outputs and baseline risk
metrics; we will expand the analysis in 2026 with additional
data inputs, further scenario runs, and internal validation.
Altitude was used to support scenario-based screening of
physical and transition climate risks and to generate portfolio-
level metrics under selected climate scenarios12.
Additionally, in relation to water stress, we recognise that
scenario-analysis tools, such as the Aqueduct Water Risk Atlas
from the World Resources Institute, indicate that important
regions in Spain, Italy, and Portugal are expected to experience
extremely high water stress by 2050, regardless of whether the
scenario is optimistic, business-as-usual, or pessimistic. While
we acknowledge this risk as credible, we believe it is premature
to ascertain any anticipated material financial impacts on our
business, particularly given that our assets do not have a direct
Sustainability Statement
Environmental Disclosures continued
178 Verisure plc | Annual Report 2025
12) The outputs are model-based scenario results and should not be interpreted as predictions; results are subject to model limitations, data availability and proprietary
methodological assumptions.

===== SIDA 181 =====

connection to water, unlike those in other industries that might
be more vulnerable.
Based on the results of the resilience analysis, climate-related
physical risks do not currently pose a material threat to the
Company’s business model on an aggregated basis. The
resilience assessment considers the Company’s key assets
and business activities, including its vehicle fleet, buildings,
technology systems and reliance on critical third-party
infrastructure. However, the potential increase in the frequency
and intensity of extreme weather events and their direct or
indirect impacts on critical third-party infrastructure has been
identified as a key area of uncertainty and is monitored through
the Company’s risk watch list.
b) Climate Transition Risks
Based on our analysis of climate transition risks, we have
identified several potential risks. These include increased long-
term costs associated with the transition to a low-carbon
economy, which encompass material resources costs,
compliance with regulatory reporting obligations, technological
costs, and reputational costs.
• Increased cost of material resources: Climate change is likely
to disrupt global supply chains, leading to production
interruptions and escalating costs and prices of raw materials
and energy. Additionally, geopolitical tensions may further
complicate the situation by negatively impacting the prices of
raw materials and energy, thereby creating more challenges
to our shift towards a low-carbon economy. To mitigate this
risk, we will continue optimising our supplier base and
enhancing our inventory management practices.
• Increased regulatory compliance and reporting costs: As the
global community strives to reduce greenhouse-gas
emissions, a wide range of policy instruments will emerge,
including carbon pricing. Most analysts predict that carbon
prices will rise in the coming decades and become
increasingly integrated across a wider range of economic
sectors, particularly in Europe, through the expansion of the
EU Emissions Trading System and the introduction of the
Carbon Border Adjustment Mechanism. We aim to mitigate
this risk by reducing our carbon footprint across our
value chain.
• Sector-specific transition misalignment: A generalised
approach to decarbonisation requirements that overlooks the
particularities of different industries and companies may lead
to disproportionately high transition costs. Verisure will
mitigate this risk by continually seeking additional
decarbonisation strategies.
• Cost of transitioning to lower-emission technology: Although
our products do not need a large amount of energy to
operate, we aim to design products with even lower lifecycle
emissions. This innovation process will require investment,
the success of which cannot be guaranteed.
• Increased reputational costs due to stakeholder concern: We
do not anticipate any significant negative impact on our
reputation with customers due to the nature of our products.
The resilience assessment indicates that transition risks related
to rising carbon prices, regulatory developments, and
technology shifts may increase operating costs over the
medium- to long-term, particularly under a Net Zero Emissions
scenario, but are considered manageable within the Company’s
current strategy.
Climate-related Resilience and Strategic Adaptation
Scenario-analysis outputs informed the Company’s qualitative
resilience assessment by supporting the identification and
prioritisation of climate-related physical and transition risks
across short-, medium-, and long-term time horizons; the
assessment focuses on material risk drivers and will be refined
as additional data becomes available.
Verisure’s asset-light operating model and flexibility to
reallocate existing OpEx and CapEx over short-, medium-, and
long-term horizons support the Company’s ability to adapt its
strategy and business model to evolving climate-related risks.
In addition, the Company’s limited exposure to heavy fixed
industrial assets and its short vehicle leasing cycles (typically
three to four years) enhance its ability to deploy, upgrade or
replace assets in response to technological, regulatory, or
market developments. Potential transition-related cost
increases, including expanded carbon pricing mechanisms, are
considered manageable within current financial planning
assumptions and do not impair the Company’s ongoing access
to financing or cost of capital. Furthermore, the Company’s
product and service portfolio is not carbon-intensive and does
not require fundamental redesign under low-carbon scenarios.
Workforce implications are expected to remain limited, as
decarbonisation measures primarily involve procurement
choices, fleet transition and energy sourcing decisions rather
than large-scale reskilling or restructuring.
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===== SIDA 182 =====

Scenario AnalysisE1-ESRS 2 IRO-1
As outlined in the ESRS 2 IRO-1: Our Double Materiality
Assessment Process section of the Our Sustainability Strategy
chapter, we have carried out a DMA that enabled us to identify
a set of IROs associated with Climate Change. As part of this
process, we systematically screened our activities, assets and
business plans across our own operations and along the value
chain to identify actual and potential future sources of GHG
emissions and other climate-related impact drivers. This
screening covered our vehicle fleet, energy consumption
in buildings, purchased goods and services, logistics, and
transportation activities, and reliance on third-party
infrastructure, and considered both current operations
and planned activities.
This screening enabled us to identify both actual climate-
related impacts (current GHG emissions across Scopes 1, 2 and
3) and potential future impacts that may arise from business
growth, technology choices, energy-mix evolution and supply-
chain configuration. Our vehicle fleet (Scope 1) and purchased
goods and services (Scope 3.1) were identified as the most
material sources of GHG emissions.
Both the ESRS and the TCFD recommend disclosing ‘the actual
and potential impacts of climate-related risks and
opportunities on the organisation’s businesses, strategy, and
financial planning where such information is material’,
including ‘the resilience of the organisation’s strategy, taking
into consideration different climate-related scenarios’.
For the purposes of this assessment, Verisure applies time
horizons aligned with its Financial Statements: short-term (less
than one year), medium-term (one to five years), and long-term
(beyond five years). Climate-related hazards, transition events,
and related risks and opportunities are identified and assessed
separately for each of these time horizons. Scenario reference
years such as 2030 (medium-term), 2040 and 2050 (long-term)
are used as analytical reference points within these horizons.
These time horizons and reference years are used as analytical
endpoints to assess how different climate pathways may affect
our business model under a range of plausible risks.
We recognise that the level of detail required in this scenario
analysis varies by industry. As a provider of professionally
monitored security solutions for homes and small businesses,
our main assets are our customers, our people, our proprietary
technology, and our systems and processes. The assessment,
therefore, focuses on the resilience of these assets and
activities, rather than on climate-exposed physical production
assets.
Scenario analysis is used as a core analytical tool to inform the
identification and assessment of both physical and transition
climate-related risks and opportunities across short-, medium-
and long-term horizons. The analysis is informed by a range of
climate pathways, including (i) a scenario aligned with limiting
global warming to 1.5°C with no or limited overshoot, (ii) an
intermediate policy-ambition scenario, and (iii) a high-emission
scenario reflecting limited mitigation action and higher physical
risk. These scenarios were selected to cover a plausible range
of risks and uncertainties relevant to our business model and
capture key drivers such as policy ambition, carbon-price
trajectories, macroeconomic conditions, energy-mix evolution
and technology deployment.
The high-emission scenario is aligned with an approximately
4°C global warming pathway, consistent with high physical risk
scenarios assessed by the Intergovernmental Panel on Climate
Change (IPCC), such as SSP5-8.5. This scenario assumes limited
mitigation action and materially increased physical hazard
intensity over the medium and long term.
The analysis is based on publicly available scenario data
and macroeconomic projections, which represent inherent
limitations when translating long-term global pathways into
company-level forecasts.
We consider that the combination of a 1.5°C pathway, an
intermediate policy-ambition scenario and a high-emission
IPCC-aligned pathway provides a sufficiently broad range of
plausible climate futures to capture the principal transition
and physical risks relevant to our business model, covering
both accelerated decarbonisation and delayed-mitigation
trajectories.
Physical climate-related hazards, including extreme heat, water
stress, storms, flooding and wind-related events, were
identified for the short, medium and long term and assessed
under a high-emission climate scenario, aligned with an
approximately 4°C global warming pathway, consistent with
scenarios assessed by the IPCC, reflecting increased frequency
and intensity of hazards over the medium- and long-term. The
assessment followed a structured process comprising hazard
identification using high-emission climate scenarios, screening
of assets and business activities for exposure, and qualitative
assessment of sensitivity, considering geographic distribution
across countries and regions, operational dependencies and
reliance on third-party infrastructure, including
telecommunications networks critical to service continuity. For
each category of hazard, the likelihood, magnitude, and
duration of potential impacts were qualitatively assessed
across time horizons, forming the basis for identifying gross
physical risks to the undertaking.
Exposure and sensitivity were assessed by considering the
geographic distribution of our headquarters, branches, and
operational footprint across countries and regions, as well as
the characteristics of identified hazards in each time horizon.
While our business model is asset-light, certain regions may
face higher projected heat stress or water stress under high-
emission pathways.
This assessment considered both actual impacts currently
observed and potential future impacts that may arise under
intensified hazard conditions in medium- and long-term high-
emission scenarios.
According to the Sixth Assessment Report from the IPCC, global
GDP is projected to at least double between 2020 and 2050,
although the degree of climate mitigation action will
significantly influence this trend depending on the temperature
pathway. While it is challenging to translate these long-term
Sustainability Statement
Environmental Disclosures continued
180 Verisure plc | Annual Report 2025

===== SIDA 183 =====

macroeconomic projections into precise forecasts for our
business activities, scenario analysis indicates that material
impacts on our business are more likely to arise over the
medium- to long-term rather than in the short term. Global
mitigation efforts are expected to influence carbon prices and
broader economic conditions.
After conducting our scenario analysis, we acknowledge that
a potential rise in carbon prices and increasing regulatory
requirements, including mechanisms such as the EU CBAM13,
could impact our activities over the medium and long term,
particularly under a Net Zero Emissions scenario. These
transition risks were identified using scenario analysis by
assessing how different climate pathways influence regulatory
exposure, operating costs, supply-chain pressures and
technology requirements across short-, medium-, and long-
term horizons.
To understand the implications of carbon pricing on our
business, we have analysed the following scenarios from the
IEA, shown in the next table14. These scenarios are used to
inform the identification and assessment of transition risks and
opportunities by evaluating different carbon-price trajectories,
policy developments and macroeconomic assumptions over
time. Transition events, including regulatory developments,
carbon-pricing increases, supply-chain pressures, technological
changes and reporting obligations, were identified for each
time horizon, and assets and business activities were screened
to assess their exposure and sensitivity to these events.
In assessing transition risks, we considered the extent to which
our vehicle fleet, energy procurement strategy, product design
and purchased goods and services may be exposed and
sensitive to identified transition events under each scenario.
For each material transition risk, the likelihood, magnitude and
duration of potential impacts were qualitatively assessed
across short-, medium-, and long-term horizons, forming the
basis for identifying gross transition risks and opportunities.
The assessment of exposure and sensitivity considered how the
likelihood, magnitude and duration of transition events vary
across the 1.5°C, intermediate and high-emission scenarios,
recognising that earlier and more stringent policy intervention
under the 1.5°C pathway would result in higher short- to
medium-term regulatory and carbon-pricing impacts, while
delayed mitigation under higher-emission scenarios may shift
risk profiles towards longer-term physical risk exposure.
Scenarios Analysis for Carbon Pricing
IEA Scenario
Estimated temperature
increase
Carbon Price (USD 2024, MER per ton of CO2)
2035 2040 2050
Net Zero Emissions by 2050 Scenario* 1.5° 180 205 250
Current Policies Scenario** 1.8° 87 87 87
Stated Policies Scenario (STEPS)*** 2.6° 89 92 174
* Advanced economies with net zero emissions pledges. This scenario outlines the necessary steps to stabilise the global temperature increase at 1.5°C.
** European Union – This scenario assumes a temperature increase of 1.8°C, assuming that all government targets, including long-term goals for zero emissions and energy
access, are fully met and adhered to on schedule.
*** European Union. This scenario projects the outcomes of current policies into the future and anticipates a 2.6°C temperature increase.
Note: MER = market exchange rate. Values are rounded.
Our main sources of emissions are our vehicle fleet (Scope 1)
and the products and services we purchase (Scope 3.1). We are
currently exploring the feasibility of transitioning to a lower-
emission vehicle fleet and implementing various strategies to
reduce emissions from our suppliers. These actions are
designed to mitigate the most material transition risks
identified through scenario analysis and to reduce our long-
term exposure to regulatory and carbon-pricing risks across all
scenarios. Our 2025 Financial Statements do not include any
critical assumptions regarding our scenario analysis, as we
believe the effects of climate change will manifest in the
medium- to long-term.
Policies Related to Climate Change
E1-2
The effects of climate change are real and expected to continue
both in the short and long term. While it is essential to work
towards reducing our impact through climate change
mitigation, we must also develop new strategies to adapt to an
evolving environmental context.
The Verisure Environmental Policy, approved by the Board,
outlines the principles and rules for managing climate change-
related IROs, seeking to guide our business to operate in a
way that:
• Clearly communicates our environmental goals and objectives
for a sustainable future to colleagues and Verisure
stakeholders.
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Verisure plc | Annual Report 2025 181
13) CBAM: Carbon Border Adjustment Mechanism.
14) ‘World Energy Outlook 2025’ report, page 459 (https://www.iea.org/reports/world-energy-outlook-2025)

===== SIDA 184 =====

• Supports colleagues in making environmentally-friendly
choices, integrating sustainability into their daily routines and
decision-making.
• Encourages colleagues to apply our environmental goals in
their work, reflecting our commitment to the planet in every
project and initiative.
• Aims to comply with all relevant environmental regulations
and standards, reinforcing our responsibility to the planet
and society.
• Fosters a culture of accountability and transparency, guiding
our actions and decisions in line with our environmental
principles.
To address climate change mitigation, the policy sets out our
commitment to achieving Net Zero, the establishment of near-
term targets, and the actions needed to minimise our GHG
emissions across all three Scopes.
With regard to climate change adaptation and energy efficiency,
the policy emphasises the need to improve energy efficiency in
our buildings, which will also support climate change
mitigation. By reducing our emissions intensity, we place
ourselves in a stronger position to adapt more effectively to
climate change. The policy also outlines the importance of
increasing our use of renewable energy as a key strategy to
reduce our Scope 2 emissions.
Finally, the policy addresses the importance of regulatory trust.
Our Legal and ESG teams are encouraged to prioritise
regulatory monitoring to anticipate potential new
requirements. The Verisure Environmental Policy is publicly
available on our corporate website. The policy applies across
our operations and supports meaningful engagement across
the value chain. The Environmental Policy is reviewed
periodically by the ESG team to promote its continued
relevance and effectiveness. Where updates are required,
proposed changes are submitted for review and approval by
the Board of Directors.
In addition, key internal stakeholders are involved in the
development and review of the policy. Prior to publication, the
Environmental Policy is reviewed by the Management Team,
Procurement Team, ESG Team, ESG Operative Committee, and
ESG Committee, with final approval granted by the Board of
Directors.
Our Progress So Far
E1-3
We are making steady progress towards our goal of reducing
total emission intensity by 40% relative to our revenue by 2030.
In 2025, our market-based GHG emissions intensity per million
euros of revenue was 42.3 tCO2eq/€m, representing a decrease
of 32.6% compared with the 2021 base year value of 62.8
tCO2eq/€m. Our total emissions for the year were 15,849,813
tCO2eq. Our 2030 target corresponds to an emissions intensity
of 37.7 tCO2eq/€m.
During the reporting year, energy efficiency initiatives in the UK
focused on reducing fuel consumption in our vehicle fleet,
increasing the use of renewable electricity in buildings, and
improving energy efficiency in offices. These actions supported
a reduction in overall energy use and associated emissions.
Our ability to implement the actions that contribute to these
results depends primarily on how we allocate existing operating
and capital expenditures, rather than on the availability of
additional material resources. A description of the relevant
resource dependencies across Scope 1, 2, and 3 actions is
provided in E1-1:
Transition Plan for Climate Change Mitigation
& E1-8: Internal Carbon Pricing section and GHG emissions are
shown in E1-6: Gross Scopes 1, 2, 3 and Total GHG Emissions,
along with year-on-year progress and actions that aided in our
emission reductions. We focus on fleet electrification and route
optimisation, increasing renewable electricity and energy
efficiency, and strengthening supplier engagement and low-
carbon sourcing. These levers support the delivery of our 2030
intensity reduction target and long-term Net Zero ambition.
Overall, we are making tangible progress across all three
Scopes, driven by fleet transition, increased renewable
electricity procurement, and supplier engagement.
At the same time, growth-related activities and higher travel
emissions highlight the need to further accelerate structural
decarbonisation efforts to remain on track towards our 2030
intensity reduction target and long-term Net Zero ambition.
Where actions implemented or planned require capital or
operating expenditure (CapEx or OpEx), the relationship to
relevant line items and notes in the Financial Statements is
described in E1-1:
Transition Plan for Climate Change Mitigation
& E1-8: Internal Carbon Pricing section. As set out therein, the
transition plan does not require significant additional CapEx, as
related expenditures are incorporated within existing
operating, leasing, and investment cycles.
The relationship between climate-related CapEx and OpEx, key
performance indicators, and the CapEx plan required under
Commission Delegated Regulation (EU) 2021/2178 is explained
in E1-1:
Transition Plan for Climate Change Mitigation & E1-8:
Internal Carbon Pricing section. Given the limited Taxonomy
eligibility of the Company’s activities and the absence of
significant additional CapEx, the impact on Taxonomy-aligned
CapEx and OpEx KPIs remains limited, and no structural
changes to CapEx are required to implement the transition
plan.
Sustainability Statement
Environmental Disclosures continued
182 Verisure plc | Annual Report 2025

===== SIDA 185 =====

Targets Related to Climate Change E1-4
Mitigation and Adaptation
We have set climate-related targets focused on mitigating
climate change, in line with our long-term ambition to achieve
Net Zero GHG emissions by 2050. In setting these targets, we
have considered the structure of our operations, how emissions
are distributed across our value chain, and our expected
business growth.
We use 2021 as our base year for these targets, as it best
represents our operational footprint and emissions profile.
This year reflects typical activity levels without structural
changes that could distort our assessment of decarbonisation
progress. This assessment is further described in BP-1 & BP-2:

About this Sustainability Statement section, which defines the
organisational and operational boundaries we apply.
Our targets apply at a global level and are based on the same
boundaries used for our GHG inventory, supporting full
consistency across Scopes 1, 2, and 3 (see E1-6: Gross Scopes 1,
2, 3 and Total GHG Emissions). They are used to guide strategic
planning, operational decision-making, and performance
monitoring. These targets (E1-4: Targets Related to Climate
Change Mitigation and Adaptation) operationalise the
principles set out in the Environmental Policy (E1-2: Policies
related to Climate Change).
Climate change mitigation goals
We have set the following mitigation goals:
• A reduction target of 40% in market-based GHG emission
intensity per million euro of revenue across Scopes 1, 2, and 3
by 2030, compared with the 2021 base year15.
• A Net Zero GHG emission commitment across Scopes 1, 2, and
3 by 2050.
The target covers the material emission sources identified
through our DMA, including Scope 1 emissions from our vehicle
fleet, Scope 2 emissions from electricity consumption in our
corporate buildings, and Scope 3 emissions, primarily from
purchased goods and services, and the use of sold products.
The target covers 100% of Scope 1, 2, and 3 emissions included
in our GHG inventory. In the 2021 base year, Scope 1
represented approximately 24% of total GHG emissions covered
by the target, Scope 2 represented approximately 1%, and
Scope 3 represented approximately 75%, based on total
(market-based) emissions of 157,427 tCO₂e or 62.8 tCO2eq/€m.
The target includes all greenhouse gases reported in our GHG
inventory and is expressed in CO₂ equivalents. The relative
contribution of each Scope to the overall emissions profile is
disclosed in E1-6
: Gross Scopes 1, 2, 3 and Total GHG emissions.
We address Scope 3 reductions through our intensity-based
target and through the decarbonisation measures set out in
our transition plan (see E1-1:
Transition Plan for Climate Change
Mitigation & E1-8: Internal Carbon Pricing). We have not set
absolute Scope 3 emission reduction targets.
Our target is a gross target and does not include the use of GHG
removals, carbon credits, or avoided emissions to meet our
target levels. The greenhouse gases covered are those included
in our GHG inventory and reported in CO₂ equivalents (see E1-6:

Gross Scopes 1, 2, 3 and Total GHG Emissions).
We disclose baseline absolute emission values for Scopes 1, 2,
and 3, as well as baseline intensity values and the revenue
denominator used, in E1-6: Gross Scopes 1, 2, 3 and Total GHG
emissions.
Estimated quantitative contribution of decarbonisation
levers
We have assessed the estimated quantitative contribution of
our main decarbonisation levers to the achievement of our GHG
emission reduction target, at a high level, by Scope. All key
actions are framed within Verisure’s overarching transition
plan, which is structured around a 2030 target and a Net Zero
2050 ambition. Actions are therefore implemented
progressively through to 2030.
• Scope 1: Emission intensity reductions are primarily driven by
the progressive transition to lower-emission vehicles,
optimisation of kilometres travelled, and fleet renewal cycles.
These measures are expected to deliver the largest
contribution to Scope 1 intensity reduction by 2030.
Within the 40% total emission intensity reduction, we expect
our Scope 1 emissions to contribute to a 24% of our total
emissions in 2030.
• Scope 2: Emission intensity reductions are mainly achieved
through increased sourcing of renewable electricity (market-
based) and energy-efficiency improvements in corporate
buildings, which together account for the majority of Scope 2
emission reductions. Within the 40% total emission intensity
reduction, we expect our Scope 2 emissions to contribute to a
2% of our total emissions in 2030.
• Scope 3: Emission intensity reductions are supported by
supplier engagement for purchased goods and services,
improvements in product energy efficiency, and
decarbonisation of electricity grids affecting the use of sold
products. Within the 40% total emission intensity reduction,
we expect our Scope 3 emissions to contribute to a 74% of our
total emissions in 2030.
The precise contribution of each lever is subject to external
factors, including technology maturity, supplier data availability
and grid decarbonisation pathways, and is therefore monitored
and refined over time.
Use of climate scenarios in target setting
When setting our target and identifying decarbonisation levers,
we assessed a diverse range of climate scenarios to understand
the long-term evolution of environmental, societal,
technological, market and policy drivers relevant for
decarbonisation.
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Verisure plc | Annual Report 2025 183
15) We calculate Scope 2 emissions included in our targets using the market-based method, consistent with the methodology applied in our GHG inventory (see E1-6: Gross Scopes
1, 2, 3 and Total GHG emissions).

===== SIDA 186 =====

This assessment includes analysis of IEA Net Zero Emissions,
Announced Pledges, and Stated Policies pathways, supported
by long-term carbon-price trajectories and physical-risk
datasets such as WRI Aqueduct for water stress. These
scenarios informed the prioritisation of decarbonisation levers
across fleet transition, renewable electricity sourcing, supplier
engagement, and product innovation.
Climate change adaptation
We have not established quantitative climate change
adaptation targets. This reflects our limited exposure to
climate-sensitive natural resources and the absence of material
climate-related physical risks to our owned or controlled assets
at an aggregated level, based on current risk assessments.
Climate change adaptation considerations are addressed
through existing risk management and operational resilience
processes, including business continuity planning, management
of corporate buildings and branches, and assessment of
dependencies on third-party infrastructure, such as
telecommunications networks.
Alignment with external frameworks and scientific
pathways
We have assessed available external methodologies for target
setting, including those developed by the Science Based Targets
initiative. The SBTi does not currently provide a sector-specific
pathway that is fully applicable to our business model. While
the SBTi absolute contraction approach would require a 42%
absolute reduction in Scope 1 and Scope 2 emissions by 2030
compared to the 2021 base year, our current targets are defined
on an intensity basis. As a result, our targets are not designed
to meet the methodological criteria required to claim alignment
with a 1.5°C or Paris-aligned pathway, and we therefore do
not make such a claim. Nonetheless, our targets support
progressive decarbonisation across all scopes and are
underpinned by defined and measurable reduction levers.
When setting our targets, we considered several critical
assumptions, including expected activity growth, fleet renewal
cycles, electricity grid decarbonisation, technology maturity,
supplier data availability, and regulatory developments. We
base our targets on our GHG inventory, using the
methodologies and assumptions disclosed in E1-6:
Gross
Scopes 1, 2, 3 and Total GHG Emissions and the BP-1 & BP-2:
About this Sustainability Statement section.
Decarbonisation levers
We describe the main decarbonisation levers that support our
targets in E1-1. These include fleet transition and demand
optimisation (Scope 1), renewable electricity procurement and
energy efficiency (Scope 2), and supplier engagement and
improvements in product energy efficiency (Scope 3).
Use of carbon credits
We do not use carbon credits, removals, or other offsetting
mechanisms to achieve our near-term climate targets. Our
climate strategy prioritises direct greenhouse gas emission
reductions within our operations and across our value chain.
We may consider carbon offsetting only in the long term, and
solely for residual and unavoidable emissions, once all
technically and economically feasible abatement measures
have implemented, to support our Net Zero ambition by 2050.
As such, we do not expect to rely on GHG removal, storage, or
mitigation projects through carbon credits in the near future.
Governance, review and stakeholder involvement
We set our climate-related targets through our internal
governance processes, with the aim of aligning them with our
climate change mitigation policy objectives (see E1-2:
Policies
Related to Climate Change). Stakeholders were not directly
involved in setting these targets.
We regularly review our targets to help maintain their
relevance, methodological consistency, and alignment with
regulatory developments and stakeholder expectations. We
disclose any material changes to targets, metrics, or underlying
methodologies, along with the rationale and the impact on
comparability, including restatements where applicable, in
accordance with BP-1 & BP-2:
About this Sustainability
Statement. We report our performance against these targets
and progress trends in E1-6: Gross Scopes 1, 2, 3 and Total GHG
Emissions.
Sustainability Statement
Environmental Disclosures continued
184 Verisure plc | Annual Report 2025

===== SIDA 187 =====

Energy Consumption and MixE1-5
In 2025, our total energy consumption (Scope 1 and 2) was
243,946 MWh or 243,946,204 kWh, which is equivalent to the
usage of 18,294 average households in Europe16. Of this total,
25,090 MWh came from electricity consumption in our corporate
buildings. Notably, 73% of the electricity we used in our
buildings came from renewable sources with a certificate of
origin. The Company does not generate non-fuel renewable
electricity; therefore, consumption from self-generated sources
is zero.
As required under SECR, we disclose the proportion of global
energy consumption attributable to our UK operations,
including both electricity and transport fuel. For the reporting
year, UK operations accounted for approximately 3% of total
global energy consumption, of which around 26% relates to
energy use in buildings and 74% to transport fuel. UK energy
use is included within the consolidated global figures
presented in this report.
Energy consumption data is collected at country level from
utility invoices and internal systems on a quarterly basis. The
electricity energy mix is determined based on information
available in certificates of origin where applicable, and the
composition of the local grid mix in each country.
Total Energy Consumption (Scope 1 and 2), in MWh
2022 2023 2024 2025
193,224 218,491 234,407 243,946
25,090 73%
MWH OF ELECTRICITY CONSUMPTION IN OUR
CORPORATE BUILDINGS
OF OUR CORPORATE BUILDINGS' ELECTRICITY
CONSUMPTION IS COVERED BY RENEWABLE ENERGY,
BACKED BY GUARANTEES OF ORIGIN (GO)
Total fossil energy consumption (MWh) 219,015
Share of fossil sources in total energy consumption (%) 89.78%
Consumption from nuclear sources (MWh) 1,688
Share of consumption from nuclear sources in total energy consumption (%) 0.69%
Fuel consumption for renewable sources, including biomass (also comprising industrial and municipal waste of biologic origin,
biogas, renewable hydrogen, etc.) (MWh) 3,155
Consumption of purchased or acquired electricity, heat, steam, and cooling from renewable energy (MWh) 20,088
Total renewable energy consumption (MWh) 23,243
Share of renewable sources in total energy consumption (%) 9.53%
Total energy consumption (MWh) 243,946
Non-renewable energy production (MWh) -
Renewable energy production (MWh) -
Energy Consumption and Mix17 2025
Strategic Report Corporate Governance Financial Statements Sustainability Statement Additional Information
Verisure plc | Annual Report 2025 185
16) In 2023, the average household energy consumption in the EU was 13,335 kWh per year (Eurostat).
17) Energy mix was calculated using location-based electricity generation mix: https://ourworldindata.org/electricity-mix.

===== SIDA 188 =====

Gross Scopes 1, 2, 3 and Total GHG E1-6
Emissions
Total GHG Emissions
We calculate and report our Scope 1, 2, and 3 GHG emissions for
the entire Company on a consolidated global basis in
accordance with the GHG Protocol. In 2025, our total emissions
decreased by 1.60% compared to 2024.
In accordance with the UK SECR requirements, Verisure reports
the proportion of global energy consumption and associated
Scope 1 and Scope 2 greenhouse gas emissions attributable to
its UK operations. For the reporting year, UK operations
accounted for approximately 0.79% of total global Scope 1
emissions, mainly from transport fuel consumption, and 0.04%
of total global Scope 2 emissions (market-based), primarily
from electricity consumption in buildings, while UK Scope 3
emissions represented approximately 1.49% of total global
Scope 3 emissions. These figures are calculated using
recognised emission factors and methodologies applied
consistently at a global level.
The most notable increase occurred in Scope 1, as the size of
our vehicle fleet has continued to expand. Scope 2 emissions
decreased significantly in 2025, reflecting a higher share of
renewable electricity.
Within Scope 3, category 3.1 (Purchased goods and services),
there was a slight increase due to higher spending volumes in
certain categories. Category 3.3 (Fuel and energy-related
activities) evolved in line with the changes observed in Scope 1
and Scope 2 emissions. Category 3.4 (Upstream transportation
and distribution) reflects a continued prioritisation of sea and
land transport over air freight. The increase in emissions in
category 3.5 (Waste generated in operations) was influenced by
higher-quality and more complete waste data reported by
countries. Category 3.6 (Business travel) decreased due to lower
travel volumes and the promotion of more sustainable modes
of transport. Category 3.7 (Employee commuting) reflects
improved commuting choices from our employees. Emissions in
category 3.11 (Use of sold products) were positively impacted
mainly by greener grid emission factors. Category 3.12 (End-of-
life treatment of sold products) improved due to data collection
quality and emission factors. Category 3.14 (Franchises) reduced
due to operational activity levels from franchises. Overall, total
GHG emissions decreased compared to the previous year.
Notably, 17.52% of our Scope 3 emissions were calculated using
primary data sourced from our suppliers and other value chain
partners.
The Company does not generate biogenic CO₂ emissions from
the combustion or bio-degradation of biomass in its
operations. As a result, no biogenic CO₂ emissions are reported
under Scope 1 or 2. Similarly, no biogenic CO₂ emissions from
biomass combustion or bio-degradation occur within the
Company’s value chain, and therefore no biogenic emissions
are reported under Scope 3.
Certain Scope 3 categories are excluded from the Company’s
GHG inventory where they are not applicable or are
immaterial18, reflecting the Company’s asset-light, service-
based business model. The relevance of these categories is
reviewed periodically and reassessed if they become applicable
or material in future reporting periods.
Our targets remain defined and managed on an intensity basis.
For alignment with ESRS disclosure requirements, we have
derived corresponding absolute emission levels for Scope 1 and
Scope 2 (and total Scope 1, 2 and 3) for presentation in the E1-6
table shown below.
The 2030 absolute values are calculated by applying the
approved intensity target of 37.7 tCO₂e/€m to the 2030
compiled consensus revenue, solely to illustrate the emission
levels required to meet the intensity pathway under this
revenue assumption. Scope-level absolute targets are allocated
proportionally based on estimated 2030 emission shares to
maintain consistency with the overall target. Milestone-year
values follow a linear trajectory from the 2021 base year to
2030. The 2050 target reflects a gross reduction of at least 90%
compared with the 2021 base year, with residual emissions to
be neutralised in line with our Net Zero commitment.
As detailed in the BP-1 & BP-2:
About this Sustainability
Statement chapter, we disclose the methodologies, key
assumptions, and emission factors used to calculate and
measure our GHG emissions.
Sustainability Statement
Environmental Disclosures continued
186 Verisure plc | Annual Report 2025
18) Scope 3 categories excluded from the Company’s GHG inventory include: Scope 3.2 (Capital goods), Scope 3.8 (Upstream leased assets), Scope 3.9 (Downstream transportation
and distribution), Scope 3.10 (Processing of sold products), Scope 3.13 (Downstream leased assets), and Scope 3.15 (Investments).

===== SIDA 189 =====

Total GHG Emissions
Indicator 2021 2024 2025
%
2025/2024 2025 2030* 2050**
Annual %
target/
Base
year***
Scope 1 GHG emissions
Gross Scope 1 GHG emissions (tCO2eq) 38,050 48,140 51,464 7 % 46,399 52,469 3,805 -3 %
Percentage of Scope 1 GHG emissions from
regulated emission trading schemes (%) - - - - %
Scope 2 GHG emissions
Gross location-based Scope 2 GHG emissions
(tCO2eq) 2,238 4,233 3,464 -18 % n/a n/a 224 -3 %
Gross market-based Scope 2 GHG emissions
(tCO2eq) 1,040 3,215 1,659 -48 % 3,867 4,372 104 -3 %
Significant Scope 3 GHG emissions
Total Gross indirect (Scope 3) GHG emissions
(tCO2eq)**** 118,337 109,728 105,375 -4 % 143,062 161,781 11,834 -3 %
1 Purchased goods and services 54,729 44,250 46,918 6 %
3 Fuel and energy-related activities (not
included in Scope 1 or Scope 2) 9,862 14,006 14,550 4 %
4 Upstream transportation and distribution 7,400 4,454 3,320 -25 %
5 Waste generated in operations 204 286 311 8 %
6 Business travelling 1,724 5,794 5,572 -4 %
7 Employee commuting 13,943 14,842 10,687 -28 %
11 Use of sold products 23,836 19,388 17,150 -12 %
12 End-of-life treatment of sold products 55 10 6 -37 %
14 Franchises 6,585 6,698 6,249 -7 %
Total GHG emissions
Total GHG emissions (location-based) (tCO2eq) 158,625 162,101 160,303 -1 % n/a n/a 15,863 -3 %
Total GHG emissions (market-based) (tCO2eq) 157,427 161,083 158,498 -2 % 193,327 218,622 15,743 -3 %
Emission intensity reduction vs. 2021**** - -24.7 % -32.6 % -20.3 % -40.0 %
Note: Location-based emissions marked as ‘na’ since our target is market-based.
* 2025 and 2030 values are estimated on the linear pathway to reach 2030 market-based targets (37.7 tCO₂e/€m), based on the expected share for 2030. 2030 values are
projected from the 2030 emission intensity target (37.7 tCO₂e/€m) applied to 2030E compiled consensus revenue of €5,799m (based on analyst estimates). Consensus
estimates as of 17 March 2026.
** 2050 values reflect a ≥90% gross reduction vs. 2021 baseline, in line with Verisure’s net-zero commitment.
*** Yearly % reduction is based on the long-term target (Net Zero)
**** Scope 3 category breakdown excludes Mexico; however, Mexico is included in total Scope 3 emissions.
Retrospective Milestones and target years

2025
Percentage of contractual instruments, Scope 2 GHG emissions 68.8%
Percentage of contractual instruments used for sale and purchase of energy bundled with attributes about energy generation
in relation to Scope 2 GHG emissions 68.8%
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Verisure plc | Annual Report 2025 187

===== SIDA 190 =====

GHG Intensity based on Net Revenue
The following graphs displays our GHG intensity based on net revenue, measured in metric tonnes of GHG per monetary unit. For
2025, we reported revenues of €3,745m.
Net Revenue Unit 2025
Net revenue used to calculate GHG intensity €m 3,745
Net revenue (other) €m 3,745
Total net revenue (in financial statements) €m 3,745
GHG Intensity Based on Net Revenue

Total Scope 1, 2 and 3 GHG emissions per revenue (market-based) by metric tonnes of GHG/€m
62.8
53.2
47.3
42.3
37.7
2021 (base year) 2023 2024 2025 2030 (target)
GHG emissions intensity
UNIT 2021 (base year) 2023 2024 2025
2025 VS 2024
(%)
GHG emissions intensity (location-based) tonnes of GHG/€m 63.2 53.4 47.6 42.8 -10.08 %
GHG emissions intensity (market-based) tonnes of GHG/€m 62.8 53.2 47.3 42.3 -10.53 %
Sustainability Statement
Environmental Disclosures continued
188 Verisure plc | Annual Report 2025
-32.6%
-40.0%

===== SIDA 191 =====

E5
Environmental Disclosures
Product Lifecycle
Management &
Circularity
Circularity at Verisure
As outlined in the ESRS 2 IRO-1: Our Double Materiality Assessment Process section of the Our Sustainability Strategy chapter, we
have carried out a DMA that enabled us to identify a set of IROs associated with Product Lifecycle Management & Circularity.
Our identified IROs related to the Circular Economy are presented below. The legend explaining the type of IRO, value chain
location and time horizon is provided in section ESRS 2 SBM-3: Our Material Impacts, Risks and Opportunities.
ESRS Verisure
Material Topic Impacts, Risks, and Opportunities Type of
IRO
Value Chain
Location
Time
Horizon
E5
Product
Lifecycle
Management
& Circularity
Depletion of natural resources through the consumption of non-
renewable raw materials in the production chain.

Product
Lifecycle
Management
& Circularity
A potential mismanagement of our waste, including improper handling of
batteries, packaging waste, waste from electrical and electronic
equipment (WEEE), and waste from offices, could cause a negative
environmental impact.
Product
Lifecycle
Management
& Circularity
Investing in advanced refurbishment techniques allows Verisure to repair
products previously considered waste, enabling the recycling of individual
components and reducing material costs while supporting circular
economy goals.
Regarding these IROs, we have identified several business units
within Verisure that could potentially influence their outcomes:
• Our Technology team (R&D and Quality Assurance) designs
innovative products and technologies, prioritising
sustainability, durability, and repairability.
• Our Sales and Operations teams drive sustainable practices
and initiatives to support efficient waste management and
maximise the recyclability of our products.
• Our Procurement and Supply Chain teams recover value from
returned products and extend their useful life by leveraging
r e v e r s e - l o g i s t i c s p r o c e s s e s , w h i l e a l s o w o r k i n g t o m i n i m i s e
s i n g l e - u s e p l a s t i c s a n d s t r e n g t h e n c i r c u l a r p r a c t i c e s .
• Our Finance team evaluates and estimates how
s u s t a i n a b i l i t y - r e l a t e d r i s k s c o u l d a f f e c t f i n a n c i a l p e r f o r m a n c e ,
such as higher costs from lifecycle enhancements or fines
linked to inadequate waste management, with our ERM
Framework.
• Our Legal team promotes compliance with environmental
standards to mitigate the risk of financial sanctions and
reputational harm resulting from ineffective waste
management.
• Our HR team fosters a culture of environmental responsibility
by integrating sustainability into training and employee
engagement, strengthening compliance from our employees
and empowering them to contribute actively to
w a s t e - r e d u c t i o n a n d c i r c u l a r - e c o n o m y i n i t i a t i v e s .
• Our ESG team aligns all business units on waste management
e f f o r t s , p r o m o t e s c i r c u l a r - e c o n o m y i n i t i a t i v e s , a n d d r i v e s
sustainability across the organisation as we work towards our
ambition of reaching zero landfill by 2035.
Continuing with a ‘Business As Usual’ approach and overlooking
circularity exposes us to several risks. These increased
expenses are due to the eventual shortage of non-renewable
resources and greater vulnerability to regulatory and financial
sanctions resulting from waste mismanagement and negative
environmental impacts. We can mitigate these risks by
proactively adopting sustainable practices and operating in
compliance with regulations. Transitioning to circular models,
such as refurbishment, reduces material use and supports
c i r c u l a r - e c o n o m y g o a l s . B y e m b r a c i n g c i r c u l a r p r a c t i c e s , w e n o t
only manage risks but also capture valuable benefits.
Strategic Report Corporate Governance Financial Statements Sustainability Statement Additional Information
V e r i s u r e p l c | A n n u a l R e p o r t 2 0 2 5 189

===== SIDA 192 =====

For details on the phases of the value chain where resource
use, risks, and negative impacts are concentrated, please refer
to the ESRS 2 SBM-3
: Our Material Impacts, Risks and
Opportunities section.
Policies Related to Resource Use E5-1
and the Circular Economy
Addressing Circular Economy in our Environmental Policy
In December 2024, our Board approved the Verisure
Environmental Policy, and it was published on our website,
reinforcing our commitment to circularity and sustainability.
The policy was reviewed by several internal stakeholders at
local and global levels and addresses climate change, product
lifecycle management, and circularity. It emphasises the
importance of minimising our environmental impact across our
value chain by prioritising sustainable, long-term solutions at
every stage of product lifecycle management19.
The policy covers several circularity topics, such as waste
reduction and separation, recycling, enhancing recyclable and
recycled materials, and reducing energy consumption through
improved energy efficiency.
As outlined in the policy, our objective is to manage the
lifecycle of our products and services to promote longevity and
sustainability. By expanding Product Lifecycle Analysis (LCA),
selecting durable, repairable, and recyclable materials, and
reducing single-use plastics, we aim to minimise the
environmental impact from the design phase onwards.
The policy addresses sustainable sourcing and the use of
renewable resources by integrating environmental criteria into
procurement. We prioritise suppliers and materials that reduce
our reliance on finite resources and promote recyclable and
recycled components throughout the product lifecycle.
Additionally, the policy reinforces sustainable logistics and
circularity to minimise environmental impact throughout the
value chain.
Verisure Waste Management Standard
In July 2025, our CEO and the Management Team approved the
Verisure Waste Management Standard. This standard
establishes a unified framework for managing the waste we
generate across our operations and facilities. Rooted in
Verisure’s Environmental Policy, it demonstrates our
commitment to minimising environmental impact, complying
with European regulatory requirements, and supporting our
transition towards a more circular and sustainable business
model.
The standard follows the EU Waste Hierarchy, prioritising waste
prevention, reuse, recycling, recovery, and finally disposal. It
emphasises that preventing waste is the most effective way to
reduce environmental impact, promoting responsible
consumption and reducing the use of single-use items. We only
consider recycling after prevention and reuse, underscoring our
focus on minimising material use throughout our activities.
We aim to establish consistent waste management practices
across all the countries where we operate. The standard covers
the classification, appropriate handling, and compliant
treatment of different waste streams, including business waste
(WEEE20, batteries, and packaging) and office waste generated
by our colleagues’ activities. It also encourages cooperation
with authorised recycling partners and sets expectations for all
colleagues and subcontractors to support our environmental
objectives.
By promoting reuse and incorporating refurbishment practices
throughout the lifecycle of our alarm devices, the standard
supports our sustainability strategy by extending product
lifespans and fostering more sustainable business practices.
Actions Related to Resource Use and
E5-2
Circular Economy
Product Design
In 2025, we shifted our focus decisively from laying the
foundations to accelerating transformation across our product
sustainability roadmap. Building on insights gained in 2024, we
have moved towards scaling proven approaches, strengthening
circular design practices, and further integrating environmental
performance into our innovation processes.
Scaling Lifecycle Assessment (LCA) Capabilities
Our exploratory LCA pilot in 2024 enabled us to uncover key
complexities and develop the expertise needed to embed
lifecycle thinking across our organisation. These insights
provided a strong foundation for further expansion. In 2025, we
moved towards a more scalable and structured LCA practice,
supported by a strategic partnership with Sphera, positioning
us to deliver our first full-scale LCA pilot by year-end. This
evolution allows us not only to understand environmental
impacts with greater precision but also to use LCA as a genuine
decision-support tool, guiding product improvements in both
the short and medium term.
Embedding Circular Design in Innovation
As we build momentum, integrating circular design principles
into early-stage innovation is the natural next step. By using
LCA insights as continuous feedback, we aim to make sure that
durability, material efficiency, and end-of-life considerations
are incorporated from the moment we define a product
concept. This approach strengthens our ability to design for
lower impact while creating long-term value and resilience in
our product portfolio.
Advancing Repairability as a Design Standard
We continue to progress towards integrating repairability
requirements within our development processes. This includes
embedding modular architecture, ease of disassembly, spare
parts accessibility, and robust documentation directly into our
Sustainability Statement
Environmental Disclosures continued
190 Verisure plc | Annual Report 2025
19) Our product lifecycle management follows the principles of Waste Hierarchy. According to the CSRD’s definition of Waste Hierarchy in Annex II, the priority order in waste
prevention and management is i. prevention; ii. preparing for re-use; iii. recycling; iv. other recovery (e.g. energy recovery); and v. disposal.
20) Waste from Electrical and Electronic Equipment.

===== SIDA 193 =====

design criteria. Our repairability scoring framework will help
standardise assessments across products, promoting that
repairability becomes a validated attribute rather than merely
an aspirational guideline. The Technology Management Team
has approved the integration proposal, and teams across R&D,
Quality, and Operations are being onboarded as we prepare for
the first New Product Introduction (NPI) pilot applying these
principles in 2026.
Product Packaging
We are transforming our packaging requirements by partnering
with our strategic product suppliers, particularly those
providing alarm equipment and R&D-related items. Our
objective is to integrate alternative materials and minimise
the use of single-use plastics, aiming to make our packaging
process largely plastic-free.
In January 2023, we introduced our unified Sustainable
Packaging Strategy. This strategy outlines specific criteria for
launching new products, with a primary focus on substantially
reducing plastic use in packaging. The specific actions
implemented are determined by the nature and ambition of
the defined targets. This initiative is designed to contribute
coherently to the achievement of the targets within the same
defined time horizons.
We focus on completely removing or significantly reducing the
use of plastic bags around our products, while maintaining
items undamaged throughout the process. Where it is not
feasible to eliminate plastic packaging entirely, we opt for
alternatives such as cardboard sheets, tissue paper, or
biodegradable bags.
We are further developing our Sustainable Packaging Strategy
for our strategic product suppliers, including Electronic
Manufacturing Services (EMS), Original Design Manufacturers
(ODM), and third-party logistics providers (3PLs).
In recent years, we reduced or removed plastic from the
packaging of several products. In the second half of 2025, we
successfully transitioned the Video Detector packaging from
plastic to paper-based materials, achieving a 50% reduction in
plastic compared to our 2021 baseline. Our ambition is to
remove the plastic or replace it with cardboard or paper
wherever possible in order to reach a 100% reduction in single-
use plastic product packaging by 2050 (compared to plastic
weight per unit in 2021).
Additionally, we have installed cardboard shredders at our
logistics centres to process used cardboard boxes for recycling.
The shredded cardboard is then utilised as cushioning material,
efficiently safeguarding package contents and serving as a
sustainable alternative to previously used Polyurethane (PU)
foam padding.
Reverse Logistics
To minimise waste, we prioritise recapturing value and
extending the lifespan of products that are returned due to
maintenance work or cancellations.
We direct waste from our business activities into our Reverse
Logistics process, where local warehouses sort it. If items are
deemed suitable for reuse or refurbishment, we send them to a
central distribution hub. There, we organise materials according
to our Repair Catalogue before incorporating them into the
Reverse Logistics stream at our repair facilities.
Our technicians first check returned products to determine
whether they remain within the warranty period. If so, we
generate a Return Material Agreement, allowing the item to be
sent back to the supplier. For items outside of warranty, we
assess their potential for repair. Those we can repair proceed
through the repair process and return to the field. Items
beyond repair are sent to our recycling partners for proper
treatment.
Implementing this closed-loop approach is key to reducing
waste, extending product lifespans, and demonstrating our
ongoing focus on sustainable practices and optimal resource
management.
In 2025, we recovered 83% of the value from end-of-life (EOL)
and damaged alarm devices, equivalent to 84% of the weight of
the alarm devices processed at our repair facilities21. This
recovery initiative enabled us to minimise spending on new
equipment, reduce costs, and greatly cut plastic consumption
associated with producing new devices, thereby advancing our
sustainability and circularity objectives. Devices beyond
recovery were sent for recycling.
Targets Related To Resource Use
E5-3
And Circular Economy
We have established the following voluntary targets22 related to
Product Lifecycle Management & Circularity:
• Our aim is to reduce the use of single-use plastic packaging
by adopting more sustainable alternatives, such as
cardboard. Our target is as follows:
• A 50% reduction in single-use plastic product packaging by
2025, compared to plastic weight per unit in 202123
• A 75% reduction in single-use plastic product packaging by
2030, compared to plastic weight per unit in 2021
• A 100% reduction in single-use plastic product packaging by
2050, compared to plastic weight per unit in 2021
• 100% of total waste recycled, reused, or diverted from landfill
in the distribution and repair centres by 202524.
• We are working towards fulfilling our zero-landfill ambition by
2035 by optimising our waste management and enhancing
recycling opportunities.
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Verisure plc | Annual Report 2025 191
21) We estimate that approximately 790 tn of alarm devices arrived at out repair centres during 2025.
22) Product Lifecycle Management & Circularity targets are not science-based.
23) Baseline year: 2021. Baseline value: 0.7g unitary weight of plastic packaging in 2021.
24) Baseline year: 2022. Baseline value: around 87% of the waste generated in our distribution and repair centres was sent to recycling.

===== SIDA 194 =====

Approval for all targets has been granted by the ESG Operative
Committee, Management Team, ESG Committee, and Board.
Set initially in 2021, these company-wide voluntary targets
reflect our commitment to reducing the environmental impact
of our operations throughout our value chain, as outlined in our
Environmental Policy. Plastic-related targets were set based on
our ambition to reduce plastic packaging as much as possible
from our products. They are monitored on a quarterly basis,
and monthly internal reviews are conducted by our Verisure
Procurement & Supply Chain team. With regard to the
waste-related target, it was set in alignment with the Company’s
zero-landfill strategy.
For monitoring purposes, suppliers are required to report the
corresponding data to our Verisure Procurement & Supply
Chain team twice per year. Monitoring occurs to assess how
actions are progressing toward their set targets. The actions
themselves (detailed in E5-2:
Actions Related to Resource Use
and Circular Economy) are determined based on the specific
targets set, and both the actions and targets share the same
time horizons.
They directly support resource use and circular-economy
objectives by reducing single-use plastic in product packaging
and promoting that all waste from distribution and repair
centres is recycled, reused, or diverted from landfill, thereby
lowering overall material consumption, minimising primary raw
materials and aligning closely with the ‘prevention’ and
‘recycling’ layers of the waste hierarchy.
At the same time, the targets drive circular design by requiring
products and packaging to be developed with lower plastic
content and greater potential for reuse and recyclability,
thereby increasing the circular material use rate. By replacing
single-use plastics with more sustainable solutions, we
minimise the consumption of primary raw materials,
contributing to the reversal of renewable-resource depletion
across the product lifecycle and reducing potential drivers of
biodiversity loss.
Our performance:
In 2025, we reduced our use of plastic product packaging by
50% compared to the baseline year of 2021, reaching our target
for 2025.
Furthermore, around 80% of the waste generated in our
distribution and repair centres was sent to recycling. The
remaining 20% was incinerated and used for energy production.
We continue working towards fulfilling our zero-landfill
strategy, aiming to reuse, recycle or divert from landfill 100% of
our waste in our distribution and repair centres.
Resource Inflows
E5-4
Verisure’s resource inflows are mainly composed of our alarm
device products, composed of plastic, metals, electronic
circuits, sensors, batteries (e.g. alkaline, lithium, nickel-metal
hydride, and lead), cables, and connectors, along with their
respective packaging. These products are sourced through two
channels: products that we design internally and manufacture
externally through EMS, and products that we purchase directly
as finished devices from ODMs.
During 2025, we estimate that our total resource inflows
reached approximately 6,150 tonnes. This estimation is based
on countries estimation on what they actually placed on the
market in terms of alarm devices, batteries, and packaging
materials.
At this stage, the information available from suppliers allows us
to identify plastics and metals as the primary material
categories used, but not the component-level breakdown
required for complete reporting under E5-4. In line with the
ESRS phase-in provisions, the indicators required under E5-4
will be implemented progressively until FY28, with metrics such
as the total weight of secondary (reused or recycled) materials
used, subject to this transition period. Verisure remains
committed to strengthening transparency across its upstream
value chain and improving the quality of material-composition
data in collaboration with EMS and ODM partners, thereby
allowing the phased implementation of E5-4 to support
compliance with ESRS requirements while embedding
circularity and responsible resource management into our
long-term approach.
Resource Outflows
E5-5
Our Products
Our key products encompass electronic security devices
engineered for durability and long-term performance in
residential and small business environments. They comprise
components such as control panels, sensors, cameras, smart
locks, batteries, electronic circuits, and related accessories. The
primary materials present in these products include plastics,
metals, electronic components, batteries, and associated
packaging materials.
In accordance with our phased implementation plan outlined in
E5-4:
Resource Inflows, Verisure is progressively introducing the
measurement and disclosure of the rates of recyclable content
in both our products and their packaging. As we continue to
enhance data collection and supplier engagement, we expect to
achieve full reporting coverage of these indicators by FY28,
aligning with ESRS requirements and supporting our broader
circularity objectives.
Durability is a key requirement in our design process, and we
develop our products to achieve a lifetime of 10+ ye
ars. To
benchmark this standard, we conducted a comparative review
of 13 technological security and monitoring devices with similar
characteristics (weight and primary function), using durability
information from their PEP Ecopassport declarations. All
comparable products analysed – including devices from Eaton,
Schneider Electric, Honeywell, BFT Automation, ABB, Legrand,
Delta Dore, and Daitem – report an average durability of 10
years. This confirms that our products’ durability is aligned with
the industry average for this product group.
Beyond durability, we are progressively embedding repairability
into our product development and lifecycle management, using
LCA insights from our strategic partner as a decision-support
Sustainability Statement
Environmental Disclosures continued
192 Verisure plc | Annual Report 2025

===== SIDA 195 =====

tool to prioritise design choices that enable repair and reduce
material use. We are integrating criteria such as modular
architecture, ease of disassembly, accessible spare parts,
robust technical documentation, and responsible material
selection (including durable, recycled, or biosourced materials),
so that repair and refurbishment become validated outcomes
rather than aspirations. In alignment with forthcoming ESPR
(Ecodesign for Sustainable Products Regulation) requirements,
we are implementing a standardised repairability scoring
framework to classify devices, and our first NPI pilot applying
this approach is planned for 2026.
Types of Waste
Verisure recognises several waste streams that arise from its
business operations:
• Waste generated from sales & operations activities: This
includes waste from our operations, such as alarm devices
and their batteries, along with any packaging that our
technicians collect during installations, maintenance tasks, or
service cancellations.
• Waste generated from daily office activities: This consists of
plastics, paper, glass, aluminium, and cardboard, along with
outdated IT devices such as computers, monitors, and
phones.
We further classify waste into the following types:
• WEEE: This waste requires proper sorting to maximise reuse
and recycling, thereby mitigating potential soil and water
pollution. The WEEE Verisure includes:
• Alarm devices composed of plastic, metals, electronic
circuits, sensors, cables, and connectors.
• IT equipment such as desktop computers, monitors, laptops,
docking stations, printers and toners, phones, and tablets.
We take steps to securely wipe or destroy information on
these devices to reduce the risk of data breaches.
• Batteries, which can be composed of alkaline, lithium, nickel-
metal hydride, or lead.
• Packaging waste: This consists of cardboard and plastic
generated through our operations and office activities.
• Other office waste: This mainly includes daily waste generated
from our facilities, including organic materials, glass, paper,
aluminium, and plastics.
Additionally, we differentiate between hazardous and non-
hazardous waste:
• Non-hazardous waste: This waste does not pose a threat to
human health or the environment. Examples include organic
waste, cardboard, or paper.
• Hazardous waste: This waste possesses properties that make
it dangerous or harmful to human health or the environment.
It includes waste that is ignitable, corrosive, reactive, or toxic.
Examples include batteries, WEEE, and the pyrotechnical
content of our ZeroVisionTM devices.
Our Waste Figures
As a technology-enabled human services company, we install
electronic equipment at our customers’ premises, and we use IT
equipment at our facilities to support them. Most of the alarm
devices we install are either battery-powered or have a battery
backup.
As mentioned in the previous section, Types of Waste, we
manage waste resulting from our operations at customer
premises. This includes batteries, alarm devices, and packaging
– as well as waste generated by our workforce in our offices and
branches, such as IT waste, packaging materials, office supplies,
and general waste from routine operations.
Waste data for batteries and alarm devices is calculated using
inventory movement records from our ERP system and
translated to weight figures using the unitary weight of each
product. Packaging waste figures are based on estimates using
average packaging weights per product. Waste generated from
daily office activities in our buildings is estimated by drawing
on information reported by local recycling partners or using
FTEs or m2.
In 2025, we generated a total of approximately 3,482 tonnes of
waste, divided into the following categories:
• Batteries & WEEE: We generated about 1,160 tonnes of battery
waste (divided into alkaline, lithium, lead, and nickel-metal
hydride batteries) and WEEE (including used alarm devices
from customers arising from maintenance services and
cancellations, and IT devices from Verisure employees).
• Packaging: We produced 805 tonnes of packaging waste,
consisting of cardboard and plastic. Our technicians are
responsible for correctly depositing all packaging waste so
that it can be recycled.
• Other waste: We generated almost 1,096 tonnes of waste from
our daily office activities, including plastic, paper, aluminium,
glass, and other non-classified waste. Additionally, we
generated 421 tonnes of non-hazardous waste from our
distribution and repair centres.
Our waste can be further classified into hazardous and non-
hazardous:
• Non-hazardous waste: We generated almost 2,322 tonnes of
non-hazardous waste, including packaging materials, office
waste, and other non-hazardous categories.
• Hazardous waste: Almost 1,160 tonnes of our waste is
classified as hazardous. This includes WEEE waste, including
alarm devices and IT equipment, as well as batteries.
Additionally, we did not generate any radioactive waste from
our operations.
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===== SIDA 196 =====

To manage our WEEE, we partner with recycling companies
across the countries in which we operate. These partnerships
allow us to leverage synergies and economies of scale, enabling
the establishment of a detailed waste collection network.
Beyond paying our fees, we participate in the collection of
WEEE generated, primarily through our maintenance activities.
Throughout 2025, 1,665 tonnes of non-hazardous waste and
almost 499 tonnes of hazardous waste were collected by our
various recycling partners across the Company.
Additionally, our logistics centres were able to successfully
reuse 663 tonnes of waste, including packaging reuse solutions
and the refurbishment of alarm devices. For further details,
please refer to Reverse Logistics in section E5-2:
Actions
Related to Resource Use and Circular Economy within this
chapter.
Refer to the following table for a detailed overview of how
waste is categorised and the corresponding methods used for
its treatment:
Waste (tn) Hazardous waste
Non-hazardous
waste Radioactive waste
Total waste
generated
Diverted from disposal 1,160 1,667 - 2,827
Preparation for reuse 662 1 - 663
Recycling 499 1,665 - 2,164
Other recovery - - - -
Directed to disposal - 656 - 656
Incineration - 82 - 82
Landfill - 575 - 575
Other disposal operations - - - -
Total waste 1,160 2,322 - 3,482
Amount of non-recycled waste - 655 - 655
% non-recycled waste 0% 28.2% 0% 18.8%
Sustainability Statement
Environmental Disclosures continued
194 Verisure plc | Annual Report 2025

===== SIDA 197 =====

Environmental Disclosures
EU Taxonomy
Reporting
T h e T a x o n o m y R e g u l a t i o n e n t e r e d i n t o f o r c e o n 1 2 J u l y 2 0 2 0 a n d
is an important classification system within the European
Union's framework for sustainable finance. It defines criteria for
classifying economic activities as environmentally sustainable
and aims to contribute to the EU’s goal of achieving climate
neutrality by 2050.
The Taxonomy determines whether an economic activity is
sustainable based on technical screening criteria. To qualify,
the activity must make a substantial contribution to at least
one of the six environmental objectives, without causing
significant harm to any of the other five.
The EU Taxonomy defines six environmental objectives:
• Climate change mitigation (CCM)
• Climate change adaptation (CCA)
• The sustainable use and protection of water and marine
resources (WTR)
• The transition to a circular economy (CE)
• Pollution prevention and control (PPC)
• The protection and restoration of biodiversity and ecosystems
(BIO)
The Taxonomy Regulation is still under development and
currently covers only a limited number of economic activities;
security activities are not currently included as an activity
under the Taxonomy.
For 2025, we chose to apply the Commission Delegated
Regulation (EU) 2026/73 of 4 July 2025 for our financial year 2025
taxonomy reporting. This decision mainly changes how we
present information compared to last year.
Taxonomy-eligible and non-eligible activities
We have reviewed our economic activities and identified which
are eligible and non-eligible under the Taxonomy. Security
activities are not considered eligible activities, and therefore,
all our turnover has been reported as non-eligible. We have
identified eligible activities related to our CapEx, such as alarm
equipment, IT and telecom hardware, leased vehicles, and
buildings. Furthermore, we have identified eligible activities
related to our OpEx, such as maintenance to serve our
customers and leasing of vehicles for short-term or low-value
use. At the end of this section, you will find the reporting tables.
Assessment of Taxonomy-eligibility
Our assessment of taxonomy-eligibility is based on a review of
all our economic activities covered by the six environmental
objectives, considering turnover, capital expenditure, and
operating expenditure. We have concluded that there are no
taxonomy-eligible activities related to turnover. The following
taxonomy-eligible activities related to CapEx and OpEx have
been identified:
• CE. 1.2 Manufacture of electrical and electronic equipment -
This covers this year’s investment in the alarm equipment
that is installed at our customers’ premises, as well as the
purchase of computers, other IT equipment and telecom
hardware that our colleagues use for their daily work.
• 6.5 Transport by motorbikes, passenger cars, and commercial
vehicles – This relates to our leased company cars, which are
mainly used by our installers and salespeople across the
organisation.
• 7.7 Acquisition and ownership of buildings – This covers our
leased office spaces and branches across our markets.
Assessment of Taxonomy-alignment
In 2025, we assessed the alignment of each eligible economic
activity mentioned above.
• CE. 1.2 Manufacture of electrical and electronic equipment –
Verisure has assessed that investments in alarm equipment,
which is regarded as CapEx under economic activity CE 1.2, are
partially assessed as Verisure’s own investment and partially
as purchases from suppliers. For alarm equipment assessed
as own investments, Verisure itself assesses the alignment
criteria; for the others, the supplier assesses them. Products
seen as own investments (which refers to the main part of our
alarm equipment) are those where Verisure has control over
the manufacturing process and design of the product. For
those products, Verisure has insight and information to be
able to assess the technical screening criteria. And for those
products that Verisure does not have control over the
manufacturing process and design, they are assessed for
purchase from a supplier, and it is the supplier that should
assess the alignment criteria. We have internally reviewed our
alarm equipment against the substantial contribution criteria,
the do no significant harm criteria, and the minimum
safeguards. Our products do not currently meet, or lack
sufficient evidence to meet, all the CE 1.2 technical screening
Strategic Report Corporate Governance Financial Statements Sustainability Statement Additional Information
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