Index Osculati, holding its course and sailing true under changing conditions 3 Methodological note 4 Key numbers 5 Our identity 6-7 About us 8 Osculati sales network 8 Osculati – The figures 9 Our story 10 Mission and ethical principles 11 Osculati brand 12 Osculati’s governance 13 The governance of sustainability 14 Development 15 Osculati’s stakeholders 16 Materiality analysis 17 Sustainability: a global project 18-21 Economic performance 22-23 The economic performance of the brand 23 The environment 24-25 Energy consumption 26 Osculati goes for clean energy 27 Impatto Zero® energy 28 Impatto Zero® projects for the offsetting of emissions 28 Direct emissions 29 Blue Valley 29 Indirect emissions 30-31

Waste and recovery 32-33 Respect for the environment at every printing stage 34-36 - FSC® paper - Recycled paper - Vegetable inks - Fully recycled metal plates The environment and digital transformation 37 Product quality and safety 38-39 Our people 40 Personnel trend 41-43 Training 44-45 Accidents at work 46 AED Project 47 Breast cancer prevention project 47 Safeguard of diversity and inclusiveness 48-49 Commitment for social work 50-51 Project for People 52 One Ocean Foundation 53 FAI – Let’s protect special places 54 SICS – Italian rescue dog school 55 RAID Mediterraneo in Rosa 55 Davide Besana – One hundred days in the Tyrrhenian Sea 56 Other supported organizations 56 GRI CONTENT INDEX 58-59


#BLUEPLANET 3 Osculati, holding its course and sailing true under changing conditions The last few years have been a heroic time for the marine industry. On the one hand, demand has fortunately held up very strongly, while on the other the supply chain has been under great pressure and disrupted at several points. We have lived through and are still living through an unprecedented historical moment in which the dramatic events of the war in Ukraine have completely upset the international balance and contributed to market crises and uncertainties. This is particularly true of the energy market, the effects of which impact with increasing intensity both on business and on family budgets. Against this global background, we at Osculati have had to work very hard to maintain our fundamental determination for an ‘Always in stock’ policy. We sought out new and alternative solutions to prevent many new problems arising for us and for our customers, while making sure we do not compromise our social and environmental commitments. In 2022, we have therefore continued to invest in technology, people and the protection of the environmental in such a way as to turn the challenges faced in these years into opportunities to improve ourselves and help the planet itself. We continue to power our warehouses with renewable energy, offsetting CO₂ emissions. We also offset our vehicle emissions and have this year started to measure those of the transport outsourced to partners, with the aim of once again offsetting all of these in the near future. None of these major projects would be possible without the essential contribution of our team of more than 130 people, who work with dedication and professionalism to the common purpose. In the new season, we shall continue to put this same great effort into our work, improving everything we do with a passion, providing unique support and ever better service to our customers, relying as always on the fundamentals of our strongly rooted history and values. Alberto, Giorgio and Claudia Osculati The Board of Directors Annalisa Magni E.S.G. Manager

4 Methodological note Osculati S.r.l. (hereafter also “Osculati” or “Company”) publishes its Sustainability Report (hereafter also “Report” or “Document”) as a tool for communicating and reporting to the Stakeholders on its activities and results in the environmental fields on a yearly basis.This document, now at its 2nd edition, is a further step in the strategic management of the ESG (environmental, social and governance) issues that are most relevant to Osculati’s own sustainability. The contents of the report begin with the results of an initial analysis of materials carried out in 2021as set forth in the “Materiality Analysis” section, developed internally by an appointed working group that aims at identifying the most important sustainability issues for Osculati and its Stakeholders. Osculati’s 2022 report integrates and enriches 2021 edition to let internal and external stakeholders know activities carried out and results achieved on ESG issues and associated impacts. In the preparation of its 2nd Sustainability Report, Osculati has chosen, once again, to take as its reference point the Global Reporting Initiative Sustainability Reporting Standards (GRI Standards) defined by the Global Reporting Initiative (GRI), which are the principal internationally recognised framework for sustainability reporting. It provides a transparent, balanced and comparable representation of results achieved. This Report has been prepared in accordance with GRI Standards 2021, according to the “Referenced” option. The “GRI Content Index” section in the appendix shows, for each topic materially important to Osculati, the GRI disclosures. With a view to continually improving and developing its sustainability management process, Osculati aims to proceed with its sustainability reporting approach by drafting its non-financial reporting process according to the 2021 GRI Standards “In Accordance” option. The Sustainability Report 2022 covers the period from 1st January to 31st December 2022 (annual frequency) in line with the financial reporting period. The reporting scope of the economic, social and environmental data and information refers to Osculati S.r.l. Where possible, data relative to 2021 and 2022 have been provided to give the reader a comprehensive and comparable understanding of the Brand’s performance in the last years in terms of ESG issues. To ensure maximum reliability of the data and information reported, preference has been afforded to inclusion of directly measurable quantities, avoiding estimates where possible. The Sustainability Report 2022 has been published in August 2023 and and made available on the company’s website under ‘sustainability’. Osculati’s management and ESG department have coordinated the drafting of this document, drawing on the input of the entire organisational structure. For further information, please contact the company at the following e-mail address: esg@osculati.it

Electricity consumption purchased with Guarantee of Origin contracts (MWh) 617.136 603.122 Electricity produced by photovoltaic system (MWh) 41 45 Natural gas consumption (m³) 153.594 116.504 GHG Emissions (t CO₂eq) Scope 1 emissions 422 378 Market-based Scope 2 emissions 0 0 Location-based Scope 2 emissions 158 154 Offset emissions 361 320,4 Waste produced (t) • non-hazardous: 104,1 119,67 • hazardous: 0,1 1,6 Dimensione economica L’ambiente Le persone Fatturato (M€) 95 102 2022 2022 5 Employees as of 31/12 119 136 New recruits 18 27 Training hours 192 948 Accidents at work 2 1 Key numbers Economics The Environment Personnel Turnover (M€) 2021


Our identity 7

We are not yet here Our best selling countries 8 About us Osculati S.r.l. is the leading company in Italy and one of the most important in Europe for nautical accessories. With over 22,000 articles we are able to assure an availability rate of over 96%, with the largest nautical equipment warehouse in Europe, and one of the best stocked in the whole world. A distributor of major international brands, it has its own production of over 7,000 items, through the work of its in-house Design & Engineering department The company has always been the principal reference point for professionals and yachtsmen with 70% of orders from within the European Union shipped the day after the order is received, and with 30% shipped on the same day as the order. Ongoing research aimed at innovation and quality, investments in raw materials control instruments (such as the salt spray chamber and UV chamber) have always typified Osculati’s operations, leading to its being well trusted by the world’s major shipyards as well as chosen by the top brands of the sector such as Lewmar, Whale, Dometic / Oceanair, Polyform, Marlow, etc. Osculati S.r.l., founded in 1958 as the first nautical accessories shop in Milan, is now well established in the global market together with Osculati & C. S.p.A, with a turnover of € 118 million in 2022. It is with pride that the third generation of Alberto, Giorgio and Claudia Osculati joins the chairman Mario Osculati in the running of the company, with the help of partners Francesco and Alessandro Gambogi. Osculati sales network

9 New items introduced each year 1.000 Availability of goods 96% Tons of goods shipped each day 17,5 Dealers around the world 6.000 Warehouse sizes 21.000 m2 Products in the general catalogue 22.000 Osculati branded items 7.000 Orders processed daily 6.500 Countries that regularly receive our goods 100 Value of goods in our warehouses 42 M€ Osculati – The figures With over 6,000 dealers worldwide and 25 area sales managers around the country, Osculati has a presence in all 5 continents. In addition, around 50 “Corners” in Italy have been distributing to the north, centre, south and the islands, making Osculati a point of reference both for trade customers and end users.

1958 ‘63 ‘75 ‘80 2016 2022 ‘95 2020 2008 2021 Emilio Osculati, helped by his son Mario, set up the first nautical shop in Milan: Osculati Forniture Nautiche. First sales outside Europe. Opening of new warehouse and doubling of area for preparation of orders. Over 100 countries are regularly supplied with our products. 1st article designed and produced by Osculati. The sales value of goods in stock first rose above €1M. Opening of new production warehouse. With the opening of Osculati &C. in Versilia (Tuscany), the OSCULATI Group came into being. 500 orders a day shipped throughout the world. For the first time, turnover exceeds €100M. Our story 10

11 Mission and ethical principles Osculati’s mission is to provide its customers with everything they need to build or maintain their boats, in the time frame they want and at the best possible value for money. In short, to make it easy for clients to design, build or maintain a boat. The business model is based on core values that guide the company in ensuring a buying experience that meets all customer needs. To this end, the management is constantly researching and developing new solutions, while diversifying its range of services and products. A culture of innovation has enabled the company to achieve excellent results and show great resilience as it adapts to market changes. At the same time Osculati is always striving to offer affordable prices without compromising product quality and reliability. Another strength of Osculati is its choice of strategic partners with whom the company has been working for many years now to ensure ever better and faster service to customers worldwide. All the business conducted and managed by Osculati is based on integrity and transparency and is conducted with honesty, loyalty and a sense of responsibility. The values Osculati has taken as its own are traceable to the “Charter of Corporate Values*” as the company commits itself to recognising and respecting its content in respect of its stakeholders. In particular, the values Osculati holds dear in and is inspired by on a daily basis are the following: • Ethical conduct in relation to employees, suppliers, customers and all stakeholders. • Cooperation and team spirit: no matter how capable and determined each of us is, we achieve more by working together. • Safety: a priority aspect in all of its ramifications, including safety in the workplace for all employees and product safety for end users. • Ethical and balanced development: we work to ensure balanced economic growth and steady longterm development by truly valuing our human resources and respecting the environment with a highly conscious use of resources. * The Charter of Corporate Values was proposed by the European Institute for Social Reporting and is taken from the Nova Spes Foundation Charter of Human Values, in turn taken up in 1989 by the UN to give timely and socially unambiguous guidance for companies in their decision-making.

Osculati S.r.l. SEGRATE (MI) - ITALY DESIGN PRODUCTION DISTRIBUTION Osculati & C. S.p.A. LUCCA - ITALY DISTRIBUTION TECHNOLOGICAL INNOVATION 12 Osculati brand Osculati is today made up of several companies: Osculati S.r.l. headquartered in Segrate, Via Pacinotti 12 is the hub of the brand, playing central role at the strategic level and setting the general guidelines. Its area of competence is both national and international, and it deals with large shipyards and dealers worldwide. From the parent company, new products are also selected, designed and developed while there is also a production area where a part of the products of in-house design are manufactured. The company has been a member of Confindustria Nautica since 1982, i.e. more than 40 years. Osculati & C. S.p.A. based in Lucca, via Sottopoggio snc, it was established in 1975 with the opening of the Versilia branch, under the leadership of partners Stefano and Francesco Gambogi. The company focusses particularly on marketing the Osculati catalogue products particularly in this region. The reporting scope of this report refers only to Osculati S.r.l. However, the affiliated company based in Lucca has long supported sustainability measures in every aspect.

13 Osculati’s governance The solidity of the family governance at Osculati effectively supports an industrial approach aimed at the creation of value in both the short and long terms. The policy of implementing forward-looking development strategies has enabled Osculati to grow steadily over the last 10 years, a growth that has not been halted at any time even during recent periods characterised by global market uncertainties. The Corporate Governance model adopted by Osculati is traditional, with a Board of Directors chaired by Mario Alberto Osculati. Working with the chairman are the board members Alberto, Giorgio and Claudia Osculati. The governing body of the company is its board of directors, which holds the broadest powers for the strategic and efficient management of Osculati. The Osculati family – Mario, Giulia, Alberto, Giorgio and Claudia Osculati

14 The governance of sustainability Effective management and careful monitoring of sustainability are of primary importance to Osculati. Its ESG function was established for this purpose in 2020 under the direction of Alberto Osculati, with the aim of laying down robust sustainability governance and implementing effective process management. In 2022 this office was entrusted to an ESG Manager who, reporting directly to the Managing Director, now manages, plans, monitors, directs and schedules the prioritised sustainability activities and initiatives. The ESG function promotes, both within Osculati itself and in relation to its stakeholders, the adoption and integration of the principles enshrined in the United Nations 2030 Agenda into the company’s strategies and processes. The Osculati family and management team, representing all company departments, and united in the name of sustainability.

15 Development In 2022, the three-year investment plan of around €2M, that began in 2019, was completed, affecting several areas of the company, notably logistics, production and the administrative offices. About €200,000 were invested in the Segrate headquarters this year: • Improving the working environment by creating new modern functional spaces; • Creating new workstations to provide the necessary operational space for future new recruits; • Improving the general well-being of all the people working in Osculati’s offices. The new offices were opened in September 2022. Point of pride: the team that has managed the work is entirely female, from Osculati’s Project Manager to the designer and the safety coordinator, real evidence of Osculati’s commitment to being an inclusive company, where gender equality and the empowerment of all women is a priority issue. Finally, the company continued to invest in more advanced IT systems and generally in the constant improvement of the company as a whole.

Stakeholder EMPLOYEES AND CO-WORKERS THE PUBLIC ADMINISTRATION THE COMMUNITY AND LOCAL AREA MARINE PROFESSIONALS DISTRIBUTED BRANDS END USERS FUTURE GENERATIONS SUPPLIERS Our Stakeholders are those who have an interest in Osculati’s business and who can at the same time exert particular influence on the Company’s operations. When preparing the Sustainability Report in 2021, an internal assessment was carried out to identify the Stakeholders most important to Osculati. Communication with stakeholders 16 Osculati’s stakeholders Stakeholders Manner of communication Governing bodies Management and key personnel for sustainability issues Osculati Human Resources Marine professionals and end users Suppliers and distributed brands Community, the local area and the public administration Periodic meetings Specific meetings on sustainability, budget data collection, work and strategies coordination Internal communication initiatives on sustainability issues, organisation of sustainability events, the opening up of listening channels Customer service, social networks, sales network as channel for listening, intermediation and communication Regular meetings with suppliers and site visits, sharing of Balance content Partnership projects with governmental and non-governmental organisations

Diversity and inclusion Impact on the community and the area Health and safety at work Development and training of human resources Social issues Circular economy Emissions Energy Sustainability of materials Responsible waste management Environmental issues Business integrity and ethics Product quality and safety Research and development Customer satisfaction ESG screening of suppliers Governance issues 17 Materiality analysis Osculati, in consideration of the company’s development and the context in which it operates, in 2022 updated its materiality analysis to identify the ESG issues that are deemed most relevant to the company and whose reporting is essential to the Sustainability Report. These reflect the economic, social and environmental impact of the organisation and/or influence stakeholder decisions. In particular a special in-house working group has been set up to assess the importance of sustainability issues that are potentially relevant to the company’s business, both from an internal perspective and from an external perspective, in such a way as to also properly demonstrate their relevance to the stakeholders.The process that led to the identification of the principal issues took place over the following stages: • preliminary identification of material issues through a documentary analysis; • identification of the principal associated impacts; • verification of the relevance of the matrix topics with the company’s Mission • evaluation of the impacts of the material themes thus identified; • reviewing and updating the SDGs related to material issues to which Osculati can contribute through its own initiatives and business activities. The results of the materiality analysis are displayed in alphabetical order in the tables below. The Sustainability Report deals with the principals ESG issues that have emerged from the analysis. While honing the structure of the document with respect to the GRI Standards, Osculati is committed, as from its next publication, to completing and adding depth to the information on all relevant sustainability issues represented in the materiality matrix.


Sustainability: a global project Sustainability is not just an environmental issue but also has social and economic repercussions. Sustainable Development means having to think about the needs of the present without jeopardising the future. Aware of its own role, Osculati has chosen to link its goals with those of the 2030 Agenda. 19 On 25 September 2015, at a United Nations Summit, 193 countries around the world signed up to the 2030 Agenda for Sustainable Development. The goals relate to interconnected topics across the board, from gender equality, to the combatting of climate change, and to the accessibility of resources for all. The aims regard everyone and each one of us is called upon to make his or her own contribution towards achieving them, each according to their abilities and possibilities, whether as a country, as a company or as an individual.

20 Goal 1: Putting an end to poverty in all its forms. 2: Ending hunger, achieving food security, improving nutrition and promoting sustainable agriculture. 4: Providing quality, equitable and inclusive education and learning opportunities for all. 3: Ensuring health and well-being for all, and for all ages. 5: Achieving gender equality and strengthening the social status of all women and girls. 10: Reducing inequalities within and between nations. Support for associations engaged in the fight against poverty and hunger in the world. Promotion of training and refresher courses for employees and collaborating workers. Specific information and activities to raise health awareness among our employees. Support to organizations dedicated to providing health assistance to the most vulnerable populations. Commitment to overcoming gender differences and reducing inequalities particularly among its employees and others working with the company. Osculati’s commitment 6: Ensuring the availability of water and sanitation facilities for all. 7: Ensuring access to affordable, sustainable and modern energy systems for all. Inclusion of water purifiers on sites and a commitment to reducing consumption. Production of energy from renewable sources through the use of photovoltaic panels and geothermal heating systems. Promotion of more sustainable mobility among employees and contractors. 8: Promoting lasting, inclusive and sustainable economic growth, employment and decent work for all. 9: Building a resilient infrastructure, promoting innovation and fair, responsible and sustainable industrialisation. Modernisation of the work space in offices, logistics and production. In particular, the production site has been entirely redesigned, with the inclusion also of lean workstations. Investment in machinery that facilitates automation and reduces the working effort of human resources. Promotion of products with an eco-sustainable footprint.

11: Sustainable cities and communities — 21 Goal 12: Ensuring sustainable patterns of production and consumption. 13: Taking urgent measures to combat climate change and its consequences. 14: Conservation and sustainable use of oceans, seas and marine resources for sustainable development. 15: Promoting the earth’s ecosystem and biodiversity, managing forests and combating land degradation. 16: Promoting peaceful and inclusive societies. Providing universal access to justice, and building accountable and effective institutions at all levels 17: Strengthening the implementation and renewal of global partnerships for development. Use of packaging from recycled materials. Separate collection of waste. Offsetting the CO2 emissions of the means of transport through a Carbon Capture Storage project involving two types of seaweed that are plentiful in Venice’s lagoon. Emission offsetting for energy consumed. Emission offsetting due to product deliveries to Italian and (partly) European customers. Support for initiatives aimed at protecting the marine environment. Supporting Amazonian reforestation. Using paper made from correctly and responsibly managed forests according to the strictest environmental, social and economic standards. Reducing the use of paper in some of the business processes through greater reliance on dematerialisation and digitisation Ethical and correct business management. Collaboration with bodies and associations directly involved in achieving these goals. Osculati’s commitment


Brand turnover in M € 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 0 20 40 60 43 45 48 54 61 63 68 74 76 110 80 100 120 118 23 Economic performance The economic performance of the brand In 2022, despite the world picture still affected by the problems associated with the pandemic, Osculati achieved a turnover of €118 M, performing particularly well in the European market, up 8% compared to 2021 turnover. Once again, performance was positive both in established markets like Italy, France and Germany, and in expanding markets, such as South Africa and the Middle East, as well as in those more affected by the geopolitical turmoil of the year just ended, such as Poland and Estonia. The combination of the company’s ‘Always in Stock’ philosophy and the management’s long-term vision have enabled Osculati to meet the constant growth in demand while containing and overcoming supply shortages and global transport constraints.

24 The environment

25 Osculati has been manufacturing marine accessories for many years, basing its business development and consolidation model on assuring a high level of customer satisfaction while reducing its own environmental impact and that related to the use of its products Osculati has always regarded the questions of Quality and the Environment as paramount, placing this latter at the heart of its corporate policy, developing increasingly eco-friendly processes and products, complying with all the standards and regulations in the sector, and providing objective evidence of the quality levels already achieved. The company actively pursues a policy of continuous improvement, based on new organisational and technological models for the business processes and for the needs customers have established for their products. To ensure such goals are achieved, the company maintains an in-house Integrated Quality and Environmental Management System that follows the UNI EN ISO 9001 and UNI EN ISO 14001 standards. In full alignment with the requirements set by the standards and its own corporate principles, Osculati pursues the following goals in the areas of Quality and the Environment: • continuous company personnel training in order to ensure constant improvements in performance in terms of the Quality of the products manufactured, reduction of the environmental impact of its processes and products, and reductions in Health and Safety risks in the workplace; • precise and prompt handling of customer needs and feedback, ensuring that the products delivered fully meet requirements as requested; • formulation of products that are increasingly environmentally friendly and less aggressive for the skin, with particular regard to the reduction of skin-sensitising preservatives; ensuring the absence of any substances that could be dangerous to persons or to the environment, and the use of surfactants with lower petroleum derivatives content; • commitment to the dissemination of the Quality and Environment Policy to all personnel working for or on behalf of the organisation.

153.594 116.504 0 50.000 100.000 150.000 200.000 2021 2022 GAS CONSUMPTION (Smc) 617.177 603.168 595.000 600.000 605.000 610.000 615.000 620.000 2021 2022 ELECTRICITY CONSUMPTION (KWh) 26 Energy consumption For Osculati it is essential to operate in an environmentally friendly manner, seeking at all times to reduce as far as is possible the energy consumed in the performance of its activities. Breakdown of energy consumption over the last two years: Energy consumed 2021 2022 Total electricity consumed (kWh) 617.177 603.168 Total (Smc) 153.594 116.504 Total (litres) 49.420 62.455 Electricity kWh kWh Automotive Fuel litres litres Natural gas for heating and other uses Smc Smc Of which from renewable sources 617.177 603.122 Electricity purchased with Guarantee of Origin 617.136 603.122 Electricity produced by photovoltaic system 41 45 Energy produced by photovoltaics and fed into the grid - 1 Diesel 25.639 30.726 Petrol 23.781 31.729 Methane 153.594 116.504

5.441,11 2.221,69 921,48 775,13 4.110,38 2.171,23 1.103,89 1.030,64 Methane Electricity Diesel Petrol Energy consumption (GJ) 2021 2022 27 Osculati goes for clean energy Today much of the energy used in the world comes from coal, oil, and pet coke. Due to CO₂ emissions in the energy production process, fossil fuels are the main culprit driving climate change. As the demand for energy is set to increase, the energy transition from fossil fuels to renewables is necessary and is the most important environmental challenge that faces our time. The decarbonisation process can only however take place if everyone is willing to do their part. To turn these principles into real action, the most recent warehouse, designed and built to Osculati’s direct commission in 2015, is one of the first warehouses in Italy to be classified in energy class A. Powered by a photovoltaic system and heated by a geothermal system, it is the flagship for Osculati’s green revolution. Osculati has moreover chosen to be itself an active part of this change, using only electricity from renewable sources and natural gas with 100% of CO₂ emissions offset. For more than ten years now Osculati has had Lifegate as its partner for the provision of electricity and gas. LifeGate Energy supplies electricity entirely from renewable Zero Impact® sources through its stations located in Italy. The national provenance of renewable sources is managed by the GSE, Gestore dei Servizi Energetici, in accordance with EU Directive 2009/28/EC through its Guarantees of Origin (GO)system. In particular, by 2022, LifeGate Energy has been able to assure with its GO certifications that its energy is 100% of Italian origin, being 15% solar and 85% wind generated.

28 Impatto Zero® energy Impatto Zero® is the first Italian project that calculates, reduces and compensates CO₂ emissions of products and activities. This system, in full accordance with the Kyoto Protocol, offsets the impact of production and distribution, contributing to the protection of growing forests and energy efficiency projects. All renewables involve environmentally friendly power generation processes with very low CO₂ emissions. Osculati has chosen to use a partner whose renewable energy and gas production and distribution have been fully offset with carbon credits from an energy efficiency project in India and with carbon credits from projects that plant and protect growing forests in Madagascar. The installations that supply renewable electricity to Osculati are located in Italy. By joining this environmentally friendly project there is thus also an increase in the share of renewables produced within our own national borders, giving real support to the economy and innovation in our country and increasing Italy’s energy independence. Domestic and renewable sourcing is certified by the Electricity and Gas Authority through GOs (Guarantees of Origin) acquired with the energy. Impatto Zero® projects for the offsetting of emissions Osculati contributes to a number of energy offset projects in different countries around the world through the purchase of green energy. Among the principal areas concerned are Madagascar, India and Brazil.

CO2 emissions- Scope 12 Unit 2021 2022 Total - Scope 1 emissions t CO₂e 422 378 Automotive fuel Gas for heating systems Diesel t CO₂e 64 79 Petrol t CO₂e 52 69 Methane t CO₂e 299 227 29 Direct emissions In 2022 direct emissions (Scope 1) amounted to 378 ton CO₂eq are made up of emissions from the use of heating systems (natural gas) and company vehicles (diesel and petrol). As in 2021, Osculati has decided to fully offset its direct emissions, both those related to the natural gas it uses (Zero Impact® Project), and those related to transport, through its adherence to the BLUE VALLEY project. An Italian project to offset emissions BLUE VALLEY is an Italian agricultural company that produces its carbon credits by means of an innovative Carbon Capture Storage process in Valle Dogà, in the Northern Lagoon of Venice and close to the Sile riverbank, covering an area of 1680 hectares. Carbon Capture Storage (CCS) is a process by which large quantities of carbon are captured and stored in two types of seaweed that are plentiful in Venice’s lagoon, macroalgae, visible to the naked eye, and phytoplankton. These underwater organisms capture CO₂ through photosynthesis. When winter arrives, they die and settle in the muddy seabed, thus acting as a carbon dioxide storage system. As a result of this project, Osculati fully offset its transport-related emissions in 2022. ² The following conversion factors were used in the calculation of emissions: - Diesel and petrol: DEFRA coefficients (UK Department on Environment) - Methane: Point-in-time data in the certificate for zero-impact natural gas purchase provided by Lifegate Energy

30 Indirect emissions Indirect emissions3 resulting from energy consumption (Scope 2) amounted to a total of 154ton CO2eq in 2022 according to the location based calculation method (158ton CO2eq in 2021), while following the market based calculation the Scope 2 CO2eq emissions are 0. This is because the market-based method, unlike the locationbased method, takes into account the choice of purchasing or of not purchasing electricity provision of renewable origin certified by Guarantees of Origin. In the case of Osculati, Scope 2 emissions are zero when calculated using the market-based method due to the company’s commitment to purchase 100 per cent of its electricity from guaranteed renewable energy sources. As part of the ongoing refinement of the sustainability reporting process, a first part of Scope 3 emissions has also been monitored and calculated this year, in particular in relation to those produced by Osculati’s transport for the delivery of goods to customers. No. of CO₂ TTW(t) CO2 TTW offset % shipments emissions emissions (t) offsetting Domestic shipments 35,574 33.62 33.62 100% Freight shipments abroad 12,243 143.01 25 20% Parcel shipments abroad 13,743 113.20 0 0% Total 61,560 289.83 58.62 22% ³ The following conversion factors were used in the calculation of emissions: Electricity (location-based): ISPRA (Ministry of the Environment)

GOGREEN CERTIFICATE 2022 offset a total of 25 tons CO2e WtW for 2022 with GoGreen Products and Services. Deutsche Post DHL Group has offset the greenhouse gas emissions generated by transportation and logistics through worldwide, registered climate protection projects. OSCULATI S.R.L. More details about the DPDHL GoGreen Projects Portfolio and selection criteria can be found at: dpdhl.com/gogreen-projects This certificate is issued by Deutsche Post DHL Group. The greenhouse gas emissions stated on this certificate (reported as CO₂e*) include emissions from transport and logistics as well as upstream emissions from fuel and energy production. The emissions have been calculated and offset via expenditures on climate protection projects as mentioned above. SGS (Société Générale de Surveillance) has verified the tracked greenhouse gas emissions and the related offsets against the Carbon Management System and according to the „Greenhouse Gas Protocol – Product Life Cycle Accounting and Reporting Standard“ for the period of 01.01.2022 to 31.12.2022. * CO₂e: The CO₂ equivalents for emission compensation include carbon dioxide (CO₂) and other greenhouse gases such as methane (CH₄). Andreas Mündel Senior Vice President Innovation & Strategy 31 A preliminary result has been achieved for 2022 taking account of the offsetting all shipments to domestic customers. Because of the company’s commitment and its cooperation with its long-standing partner BRT, all shipments are CO₂ neutral, due to the implementation of the projects that offset greenhouse gas emissions by producing clean energy from renewable sources. To reduce the impact of shipping to customers primarily in Northern Europe, such as in Norway, the Netherlands, Denmark, Belgium, Finland, Ireland, Sweden, as well as to the UK and Germany, Osculati has collaborated with its partner DHL, joining the GoGreen Climate Neutral project to offset their carriage emissions. Offsetting is carried out on all transport routes with high-quality emission credits, including VER (Verified Emission Reductions) from recognised climate protection projects worldwide, in accordance with the ‘Gold standard’. This year this project has seen 28.40 t of CO₂ generated by transport and logistics for Osculati offset by means of climate protection projects and local community support. All of Osculati’s transport management partners are committed to changing their ways of working such as to achieve emissions neutrality by the year 2040. Osculati supports this commitment by selecting companies with similar sustainability goals for the transportation of goods to customers.

32 Paper and cardboard packaging (150101) 37.10 51.64 Iron and Steel (170405) Imballaggi in materiali misti (150106) 12.08 22.83 Spent Print Toner Cartridges (080318) 0.04 0.04 Wood Packaging (150103) 39.44 24.24 Packaging containing residues of or contaminated by hazardous substances (150110) 0.03 Gases in pressure containers (including halons) containing dangerous substances (160504) 0.212 Waste paints and varnishes containing organic solvents or other hazardous substances (080111) 0.239 Waste adhesives and sealants containing solvents (080409) 0.164 Batteries and accumulators (200133) 0.835 Other explosive waste (160403) 0.10 Fluorescent tubes and other mercury-containing waste (200121)) 0.08 Waste and recovery Osculati is aware that its manufacturing and distribution activities have an impact on the environment and so pays very close attention to its waste management programme. Its commitment is to focus on the characteristics of the products themselves in such a way as to favour their reuse wherever possible by end of life recycling or composting. The main waste produced comes from business carried out: • In manufacture, assembly and packaging: which is non-hazardous waste, mainly ferrous scrap and packaging. • •In logistics: non-hazardous waste, mainly packaging, cardboard and wood. • In the offices: non-hazardous waste, mainly paper, plastic and wet waste. A separate waste collection system is in place throughout the company. This ensures that almost all of the waste produced is recyclable. Osculati strives constantly to reduce the amount of waste created by improving its processes and instilling good staff awareness. Waste by category (t) Hazardous Non-hazardous Hazardous Non-hazardous waste waste waste waste 2022 2021 Total (t) 0.10 104.10 1.56 119.67 The following table shows the quantities of waste produced, whether or not going to recycling, and broken down by category:

37.17 39.44 15.37 0.10 12.08 51.64 24.24 20.92 1.56 22.83 0 10 20 30 40 50 60 Cardboard recycled Wood recycled Iron and steel recycled Hazardous waste Unsorted waste non-recycled WASTE GENERATED 2021 2022 Cardboard recycled 43% Wood recycled 20% Iron and steel recycled 17% Hazardous waste 1% Unsorted waste non-recycled 19% WASTE COMPOSITION 2022 33 81% of the waste generated by Osculati in 2022, totalling 98.4 tonnes of material, was recycled.

68,913 59,730 69,009 52,448 0 10,000 20,000 30,000 40,000 50,000 60,000 70,000 80,000 Kg of FSC® paper used by OSCULATI for commercial printing 2019 2020 2021 2022 34 Respect for the environment at every printing stage Even today it is essential for Osculati to have an up-to-date printed catalogue of its products to reach out to its customers in over 100 countries, to enhance its brand identity, to consolidate customer loyalty and to increase its sales online and in shops. The catalogue also gives potential customers the feeling that they are dealing with an important, reliable, well-structured and motivated company. Osculati printed 13,682 catalogues with 1,112 pages of copy in the year 2022 alone, plus several smaller print project, totalling 52,572 kg of paper. We are however very conscious of the importance of limiting the environmental impact of these activities, so since 2019 OSCULATI has been using for all of its printed products: FSC® paper Paper of the FSC® standard are not physically different from traditional papers. Although identical in appearance they have a very different story to tell, with quite distinct origins of the cellulose from which they are made. This is paper from forests that are properly and responsibly managed according to strict environmental, social and economic standards. Those who adhere to this standard are obliged to respect policies enshrining ethical values of biodiversity, workers’ rights, avoidance of child labour and discrimination, ensuring the payment of wages in line with national labour contracts, and the protection of company and environmental safety Products using recycled papers are recognisable from the logo on the product itself (as shown in the picture). Kg of recycled paper used by Osculati for the sustainability report and similar printing. 2021 124.83 kg While for other printed matter, such as this document, Osculati uses: Recycled paper Recycled paper is that made from waste paper and cardboard, so it does not involve the felling of trees, just the re-use of various kinds of paper. Products using FSC-certified papers are recognisable from the logo on the product itself (as shown in the picture).

405.5 351.5 406 309 0 50 100 150 200 250 300 350 400 450 Kg of VEGETABLE INK used by OSCULATI for commercial printing 2019 2020 2021 2022 35 Osculati, in its care to safeguard the environment, also combines, with ecological printing, the use of: Vegetable inks made from vegetable oils such as rapeseed, palm, and flax. Fully recycled metal plates and developing and fixing materials disposed of in special tanks in addition to plates without developing processes. The plates transfer the ink onto paper, first passing through a rubberized support called a blanket. At one time the printing from plates was carried out by hand, which was time-consuming and produced a great deal of waste material. Much more wetting water was used in the making of the plates, which were initially made of zinc and not aluminium, than is the case now, or high temperature ovens were needed to fix the glyphs onto the plate itself. However, Osculati routinely uses two types of plates: - Waterless, which, through the employment of photopolymers, silicone products and water-free processes, allow the same or often better results to be achieved. - Processless, also called developing-free, impressed in the CtP and activated directly in the printing press. These plates offer great advantages as no developer or water is needed, and no chemical processing is involved. In short, to great environmental advantage. 1,405 1,211 1,142 1,072.60 0 200 400 600 800 1,000 1,200 1,400 1,600 Kg of ALUMINIUM PLATES 100% RECYCLED used by OSCULATI for commercial printing 2019 2020 2021 2022


37 The environment and digital transformation 2022 saw some fruits of the new process towards digitisation, which has not yet been completed and will be continued over the next few years. Osculati has undertaken both dematerialisation and digitalisation processes, especially in the passive cycle in which area these were still largely absent. Osculati has put into effect a number of tools to dematerialise and digitise documents. It has for example implemented a document matching process using ‘Data Matrix’ technology and some document ‘Drag and Drop’ functions that make data searchable and extractable, followed by the digital storage and sharing of documents, with real savings in time and resources. The main benefits of the steps towards becoming a paperless company have however been the clear savings in time and resources, and the environmentally friendly savings on purchases of paper, printers, toner and physical archives. In the year 2022 alone, as compared with 2021, and despite the increase in goods handled both inbound and outbound, the impact was a direct reduction in paper purchases of around 19%.

38 Product quality and safety

39 For Osculati it is essential to be able to offer its customers a safe and quality product, while it continually strives to improve the effectiveness and efficiency of its business processes. Given the nature of the processes and products marketed, the Company decided to adopt a Quality Management System in accordance with the ISO 9001 standard. The Quality Management System is supported by various procedures indicated in the reference documents that contain the methods used in all the company processes and activities, whether managerial or operational, designed to ensure the safety of products and services. The procedures set forth: • the process for achieving quality objectives for new products (determining product specifications, with the functional characteristics that have to be assured, and together with the associated monitoring and testing procedures); • the system to ensure improved supplier quality; • the system in place to adapt the human resources to quality programmes through education and training. The objectives, defined by function and process, must be at once ambitious, realistic, measurable and visible, and it is for exactly this purpose that the internal Integrated Quality Management Team was established. The IQMT is a team that integrates different technical skills, ensuring intrinsic quality in every product and in every circumstance, while able to identify errors and actively intervene to remedy them and to minimise future risks. The team acts in the various stages of both production and the other areas of performance, including in the monitoring of Quality, After-sales and Return Customer Service, and is able to identify, correct and track any material non-conformities. The team thus ensures that each product reaches and meets the determined quality standards, while maintaining constant quality levels over time. The General Management of Osculati monitors and evaluates the evolution and development of the Quality Management System through: • analysis of the company’s performance vis a vis the quality and safety targets set by the management • The results of any inspections • The identification of critical issues and opportunities for improvements to and the updating and improving of the Quality System and its documentation. At least once a year, the Team Leader draws up and submits to the Management a statistical analysis and classification of data on product quality and safety indicators in relation to: • Supplier Quality • Product non-compliance - Customer complaints and any production processes non-compliance Here are some data and figures: • 65,000 - annual checks • 50 - Product certifications every year and collaborations with reputable laboratories • 15,000 hours - Salt spray test every year • 10,000 hours - UV tests every year • Breaking load test • Electrical tests • IPXX test

40 Our people

KEY NUMBERS 80 37 86 42 2 2 6 0 10 20 30 40 50 60 70 80 90 100 Men Women Men Women 2021 2022 Fixed-term Permanent Full-time men 67% Full-time women 30% Part-time women Full-time men Full-time women Part-time women 3% 2021 65% 33% 2022 2% 41 Personnel trend The people working at Osculati have always been our most valuable resource. Listening skills, integration and communication are the milestones personnel relationships in our workplace are based on. At the end of 2022, 136 people contributed to the success of Osculati. More than 94% of our staff have permanent contracts. Compared with 2021, there has been an 40% increase in the number of employees and more than 75% of the new employees are under 30 years of age. Women represent around 35% of our workforce. In addition to the employees, Osculati employs external staff, particularly in the logistics and manufacturing areas. Graph 1: employees by gender, by employment contract Graph 2: employees by gender, by working time

8 26 46 10 25 53 3 29 7 4 37 7 Manager White Collar Blue Collar Manager White Collar Blue Collar 2021 2022 Women Men 0 9 2 0 12 2 14 32 9 20 33 9 10 31 12 11 33 16 Aged < 30 Aged 30 - 50 Aged > 50 Aged < 30 Aged 30 - 50 Aged > 50 2021 2022 Manager White Collar Blue Collar 42 Graph 3: No. of employees by gender, by professional category Graph 4: No. of employees by age group, by professional category

Negative turnover – terminations Positive turnover – recruits Aged <30 30% Aged 30-50 60% Aged >50 10% 44% 52% 4% Aged >50 Aged <30 Aged 30-50 43 Turnover * 80% of the employees who left Osculati in 2022 resigned, while 10% left due to retirement and the remaining 10% due to end of contract. No. of new recruits < 30 30-50 > 50 Total 2021 2022 Men 7 7 1 15 Men 10 5 0 15 Donne 5 7 0 12 Women 2 1 0 3 Total 12 14 1 27 Total 12 6 0 18 No. of employees who left the company* < 30 30-50 > 50 Total 2021 2022 Men 2 5 0 7 Men 5 2 3 10 Women 1 1 1 3 Women 1 0 1 2 Total 3 6 1 10 Total 6 2 4 12

44 Training People are at the heart of Osculati, which is why the company continues to invest and promote initiatives aimed at developing, improving and incentivising performance. Osculati strongly believes in the continuous updating of skills and professional growth of its personnel as a strategic investment. On the one hand they it means development and updating of skills in diverse areas and on the other hand it means the company is always ready to respond to market trends. Every year the Human Resources department maps training needs by means of a questionnaire addressed to all personnel, with the managers of each of the offices involved in the assignment of priorities. Once the training subject areas have been identified the following are carried out: • a training calendar is drawn up; • financial coverage is identified, including through industry funds or training vouchers offered at national or regional level; • service suppliers are contacted and evaluated in terms of the quality of service offered, the scheduling of delivery and the costs; • training classes are organised by subject area and all staff involved are notified of the start of the training plan. During the training courses, progress is constantly monitored using requests for feedback. At the end of each course, each employee receives a satisfaction questionnaire in which he or she gives and overall evaluation grade for the course, the topics covered and the lecturer, while adding any comments on possible areas that can be improved. For some training courses, more specifically those of a specific technical nature, there are initial tests to gauge the knowledge of employees, assign them to the correct class and give them a target to achieve at the end of the training. In implementing training plans, the company has the dual objective of updating job-specific technical skills and fulfilling training obligations under national and local industry regulations. Some of the figures relating to training schemes: Manager White Collars Blue Collars Total 2021 2022 Men 7 18 17 42 Men 0 7 1 8 Women 1 22 0 23 Women 1 2 1 4 Total 8 40 17 65 Total 1 9 2 12 No. of employees by employment category involved in training activities