17 The Process The materiality assessment was conducted in compliance with the requirements of the European Sustainability Reporting Standards (ESRS) issued by the European Financial Reporting Advisory Group (EFRAG). The methodological approach adopted to meet these requirements followed four main phases (as shown in the figure below) and is aligned with the principles outlined in the EFRAG Implementation Guidance3: Phase 1: Understanding the Context Osculati carried out an in-depth analysis of the context in which it operates, supported by a benchmark study, with the aim of identifying the sustainability topics most relevant to its sector and business model. This initial step allowed the Company to build a solid understanding of its reference landscape and to gather key elements for developing an informed and targeted approach. Based on this work—conducted with reference to topics, sub-topics, and sub-sub-topics as outlined by the applicable standards—the sustainability matters to be further analysed were identified according to their potential relevance to Osculati. In addition to the topics proposed by the standards, the Company identified one entity-specific topic, considered particularly significant for its operational context. 3 «EFRAG IG 1 – Materiality Assessment» published by EFRAG in May 2024. Phase 1 Understanding the Context •Analysis of the Organization’s activities, business model, business relationships, and value chain •Definition of the stakeholder engagement strategy Phase 2 Identification of IROs •Identification of potentially material ESRS topics based on the list of aspects included in Appendix A of ESRS 1 •Detailed mapping of impacts, risks, and opportunities (IROs) associated with the potentially material ESG topics Phase 3 Evaluation of IROs •Assessment of impact materiality Assessment of financial materiality Processing of results and identification of material ESG topics for FY 2024 Phase 4 Reporting •Description of the methodological approach adopted for conducting the DMA •Identification of the information to be disclosed
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