Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environmental Impact
• Resource Saving

Environmental Achievements

• CO2 emissions reductions of 144,107 tons

Social Achievements

• Nuuka Solutions signed large customers (City of Helsinki, ICA Real Estate), ResQ Club crossed 1.4M portions sold, Sofi Filtration revenues grew by 132%, new CEO appointed at Swap.com focusing on profitability

Governance Achievements

• Appointed Erik Penser Bank as new Certified Advisor, refined strategy to acquire more external equity funding for core portfolio firms

Climate Goals & Targets

Environmental Challenges

• Bankruptcy of portfolio company Nocart, Eagle Filters revenue remained flat, Swap.com revenue decreased by 26%, Enersize share price decreased
• Need for securing additional funding for most portfolio companies

Mitigation Strategies

• Increased oversight of minority-owned portfolio companies, improved processes in information gathering and communications, reduced operational burn rate, started charging portfolio companies for services, actively helping companies facing challenges (Nocart)

Supply Chain Management

Climate-Related Risks & Opportunities

Sustainable Products & Innovation

• Eagle Filters (air filtration solutions)
• Nuuka Solutions (cloud-based software for building analytics)
• Sofi Filtration (water filtration technology)
• ResQ Club (app for rescuing surplus food)

Environmental Metrics

ESG Focus Areas

• Climate Change
• Environmental Sustainability
• Resource Saving

Environmental Achievements

• Estimated CO2 reduction impact of approximately 83,000 tons in 2021 (due to Eagle Filters' technology), equating to the annual carbon footprint of 8,000 Finns. Note: This is a reduction from 125,000 tons in 2020.

Social Achievements

• Not disclosed

Governance Achievements

• New Board of Directors appointed, bringing additional value and expertise to Eagle Filters governance.

Climate Goals & Targets

Environmental Challenges

• Challenging operating environment, including Russia's war in Ukraine causing major turbulence in the global energy sector.
• Cost inflation and challenges in supply chain & material sourcing.
• Material availability and logistics delayed deliveries.

Mitigation Strategies

• Price increases implemented.
• Significant investment of working capital in inventories to facilitate deliveries and material availability.
• Investments in factory automation and development of new product versions to improve margins and increase production capacity.
• Increasing in-house material production to decrease dependence on material suppliers.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Vast opportunity for global CO2 emission reduction due to Eagle Filters' technology increasing gas turbine fuel efficiency.

Reporting Standards

Frameworks Used: Null

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• SDG 7 (Affordable and Clean Energy)
• SDG 13 (Climate Action)

Eagle Filters' technology contributes to reducing CO2 emissions from gas turbines, aligning with SDG 7 and SDG 13.

Sustainable Products & Innovation

• Eagle Filters' high performance air filters for the energy industry and personal protective equipment (PPE), specifically the new Saana 300 product line.

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Climate Change
• Environmental Sustainability

Environmental Achievements

• Reduces CO2 emissions effectively where they are born (technology reduces CO2 emission)
• New synthetic materials significantly reduce pressure loss and are manufactured at competitive cost

Social Achievements

• Not disclosed

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Uncertainties with inbound and outbound logistics with materials and products
• Large customer complaints from previous years negatively impacting profitability
• Inconsistent achievement of high enough production volumes to support profitability
• Limited respirator sales despite winning a public tender
• High material, labor, and logistics costs
• Low historical pricing of order backlog in an inflationary environment
• Russia's war against Ukraine and subsequent global geopolitical instability combined with high inflation, supply chain challenges, and European energy market problems

Mitigation Strategies

• Further reduced costs and increased efficiency of manufacturing process
• Actively strives to ensure the availability of materials/components required for product deliveries
• Regained momentum in production in January-February 2024 (approx. EUR 750,000 per month)

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• New synthetic materials

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Not disclosed

Environmental Achievements

• Not disclosed

Social Achievements

• Not disclosed

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Russia's war against Ukraine and increasing tension in the Middle East causing geopolitical instability, high inflation, supply chain challenges, and European energy market problems.
• Global disruption in the availability of raw materials/components and their price development.
• Production capacity as a main bottleneck for growth.

Mitigation Strategies

• Company monitors the development of the situation and actively strives to ensure the availability of materials/components required for product deliveries.
• Several cost reduction measures, including reductions in labor cost and other cost optimization. These measures included change negotiations regarding personnel reductions.
• Ramp-up plan to significantly further increase the production output through new machinery and automation.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• High performance filtration solutions that cut CO2 emissions and increase profitability of the energy industry.

Awards & Recognition

• Not disclosed