TCFD Recommended Disclosures FY2024 Status Summary and Next Steps Strategy Describe the climaterelated risks and opportunities the organisation has identified over the short-, medium- and long-term Met • The Group engaged an independent ESG consultant to facilitate the assessment of climate-related risks and opportunities. We define: Time horizons: Short-term (less than five years), Medium-term (five to 10 years), and Long-term (more than 10 years). • Likelihood levels: Rare, Unlikely, Moderate, Likely, Almost Certain • Severity of financial impact: Insignificant, Minor, Significant, Major, or Severe. To evaluate these risks and opportunities, we leverage the Network for Greening the Financial System (“NGFS”) scenarios, tailoring them to align with our business context. A summary of the selected scenarios, including their assumptions and justifications, is provided in the table below. Scenario Assumptions Justification NGFS Orderly Net- Zero by 2050: Limit temperature rise to 1.5°C. • Earlier adoption of climate policies, with gradual tightening. • Reach Net-Zero emissions by 2050. • Low physical risk but high transition risk. Aligned with the latest international climate agreement and national commitments. NGFS Hothouse world Current Policies: Temperature rise exceeding 3°C. • Preserve currently implemented policies without additional climate policies. • Variations in climate policies across different jurisdictions. • Emissions increasing until 2080. • High physical risk but low transition risk. Unfavourable outcome and conservative approach. Through surveys and workshops with internal stakeholders, we identified risks and opportunities that could materially affect our financial performance. This process was complemented by an in-depth analysis of external factors, such as regulatory developments and market trends, alongside qualitative evaluations. Please refer to the Climate Risks and Opportunities section for more information. Describe the impact of climate-related risks and opportunities on the organisation’s business, strategy, and financial planning Met To evaluate the financial impact of identified risks and opportunities, the Group takes into account several key considerations: • Effects on operations, products, and services. • Vulnerabilities within the supply and value chains. • Costs associated with adaptation and mitigation efforts. • Investments in research and development. • Potential acquisitions, divestments, and access to capital. Please refer to the Climate Risks and Opportunities section for more information. Describe the resilience of the organisation’s strategy, taking into consideration different climate-related scenarios, including a 2OC or lower scenario Met The Group has incorporated International Energy Agency (“IEA”) scenarios into our evaluation of applicable climate-related risks. We have assessed our resilience against climate change and acknowledge that our mitigation responses against climate-related risks continue to be influenced by the following potential scenarios: IEA Stated Policies Scenario (“STEPS”), IEA Announced Pledges Scenario (“APS”) and a recent addition of IEA Net-Zero Emissions by 2050 Scenario (“NZE”). Please refer to the Climate Risks and Opportunities Section for more information. Annual Report 2024 7 6
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