Climate Change Data

Environmental Metrics

Social Achievements

• Average number of employees in the Group for the period January to December has been 201 (171), of which 35 percent (39) are women.

Governance Achievements

• Jetpak Top Holding AB has been listed on Nasdaq First North Premier since December 5, 2018.

Environmental Challenges

• potential slowdown in some markets. Main concern is related to Sweden, where construction and export indicators provided some future uncertainty which potentially leads to decreasing growth.
• downtrading among Express Systemized customers

Mitigation Strategies

• This is expected to be absorbed by established commercial initiatives.
• Production Excellence initiatives provided further network and cost optimization, which strongly supported our margin development and neutralized other cost increases and price competition.
• Revised price methodology was agreed with suppliers in our distribution network thus providing mutual benefits and lower costs.

Supply Chain Management

Responsible Procurement

• Revised price methodology was agreed with suppliers in our distribution network thus providing mutual benefits and lower costs.

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: IFRS

Environmental Metrics

ESG Focus Areas

• CO2 neutral business model
• Whistleblower program

Environmental Achievements

• Launched first zero emission electric vehicles within its vehicle fleet

Social Achievements

• Introduced a whistleblower program

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Covid-19 pandemic significantly impacted revenues and profitability due to global restrictions and decreasing demand.
• Commercial airline capacity decreased by more than 80% during the second quarter due to travel restrictions.
• Major reductions of air network continued to add additional costs during the last quarter due to backup solutions.

Mitigation Strategies

• Launched several measures such as temporary lay-offs, alternative transport solutions and commercial initiatives.
• Continued focus on cost control activities, including revisiting supplier contracts and improving internal processes.
• Continued use of temporary grants and relief measures made available by governments.

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: IFRS

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Environment
• Social
• Governance
• Human Rights
• Anti-Corruption

Environmental Achievements

• Decreased average carbon dioxide emissions (TTW) to 4.23 kg/shipment (a 0.24% decrease from the previous year)
• Total CO2 emissions from transportation decreased by 1.7% compared to 2020
• 17% of vehicles in Sweden used HVO fuel as of December 2021
• Increased number of electric vehicles in Sweden, Norway, and Denmark

Social Achievements

• Established a whistleblower process
• Offered employment to three people in collaboration with the Swedish Public Employment Service
• One person completed an internship in logistics as part of their university studies
• Annual employee survey (PULS) conducted with a 95% response rate

Governance Achievements

• Joined the UN Global Compact in May 2021
• Implemented a new sustainability policy in 2021, including guidelines for suppliers
• No deviations from anti-corruption policies in 2021

Climate Goals & Targets

Environmental Challenges

• Risk of not meeting customer, employee, partner, and societal demands
• CO2 emissions from vehicle fleet
• Changes in customer requirements related to environmental effects
• Changes in legal requirements
• Discrimination, lack of leadership and motivation, and work environment risks
• Risk of salary and gender inequality
• Risk of contributing to or being associated with human rights violations
• Risks related to corruption and irregularities

Mitigation Strategies

• Following defined sustainability actions and environmental strategy
• Plan for implementation of HVO and electric vehicles
• Reporting of CO2 emissions according to EN 16258
• Monitoring working conditions, leadership, and motivation through annual staff survey
• Conducting annual salary surveys
• Requiring all significant suppliers and franchisees to sign the Supplier sustainability policy
• Regularly following up on laws with an external program
• Anti-corruption policy, Information policy, and Insider policy
• Implemented Whistleblower system and Insiderlog tool

Supply Chain Management

Responsible Procurement

• Supplier sustainability policy

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: UN Global Compact

Certifications: ISO 14001

UN Sustainable Development Goals

• SDG 8
• SDG 10
• SDG 13
• SDG 17

Environmental Metrics

ESG Focus Areas

• CO₂ reduction
• Supply chain optimization
• Use of HVO fuel
• Increased use of electric vehicles
• Eco-driving training for drivers
• Monitoring drone technology

Environmental Achievements

• Optimized supply chain based on increased capacity utilization and CO₂-reducing activities
• Use of HVO fuel
• Projects to increase the use of electric vehicles in densely populated areas
• Eco-driving training for drivers

Social Achievements

• Ongoing gender equality work
• Employee survey measuring leadership, human capital, and organization

Governance Achievements

• Followed Nasdaq First North Growth Market Rulebook and applied the Swedish Code of Corporate Governance
• No deviations from the Code

Climate Goals & Targets

Environmental Challenges

• Available flight capacity remained a challenge due to the continued economic crisis for many airlines and the SAS reconstruction process
• Increased inflationary pressures driven by post-pandemic effects and the war in Ukraine
• Growth challenges in Denmark Road due to lost contracts
• More volatile airline capacity and poorer flight schedules

Mitigation Strategies

• Introduced a "Fuel & Sustainability surcharge" to neutralize cost increases
• Rolled out an improvement plan to increase revenue and margins for the Danish Road business
• Prepared plans and taken measures to minimize the negative impact of operational disruptions and macroeconomic challenges
• Continuously discussing with main airline suppliers to address capacity issues

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: UN Global Compact

Certifications: ISO 9001:2015, ISO 14001:2015

Environmental Metrics

ESG Focus Areas

• Sustainability
• Fuel efficiency
• Use of electrical vehicles

Environmental Achievements

• Increased use of HVO (hydrogenated vegetable oil) fuel
• Projects related to increased use of electrical vehicles within densely populated areas

Social Achievements

• Not disclosed

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Increased costs due to increased fuel prices (indirect impact of Russia's war in Ukraine)
• Continued supply chain disruptions impacting logistics and production processes of large industrial accounts
• Reduced air capacity due to continued effects of Covid-19 and airline profit improvement programs and staff shortages

Mitigation Strategies

• Introduced an index-based fuel surcharge effective from April 1st, 2022, including a sustainability component covering increased HVO fuel use
• Exploring various means of providing more CO2 friendly supply chain solutions
• Carefully monitoring the development of drone technology for future delivery model adjustments
• Securing complimentary air capacity from other suppliers to mitigate the impact of potential capacity reductions by main airline partners

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

• Not disclosed

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Supply chain optimization
• CO2 reduction
• Use of HVO fuel
• Increased use of electric vehicles
• Eco-driving training
• Drone technology
• Human rights
• Labor rights
• Environment
• Anti-corruption

Environmental Achievements

• Converted ~70% of company car fleet to electric in Sweden.
• Total CO2 emissions from transport in 2023 were 5.4% lower compared to 2022 (7,580,660 kg vs 8,017,895 kg).

Social Achievements

• Employee satisfaction survey (PULS) showed an engagement index of 83 and leadership index of 82.
• No unfair pay gaps between men and women in 2023.
• Offered work experience to vulnerable people.
• Employee turnover was 12% in 2023.

Governance Achievements

• Implemented a whistleblower service.
• No deviations from anti-corruption policies noted in 2023.
• All significant suppliers and franchisees signed the sustainability policy.

Climate Goals & Targets

Environmental Challenges

• Meeting customer, employee, partner, and societal expectations.
• CO2 emissions from vehicle fleet.
• New customer requirements related to environmental impact and reporting.
• Changes in legal requirements.
• Discrimination, lack of leadership and motivation, and workplace risks.
• Risk of unequal pay between genders.
• Risk of contributing to or being associated with human rights violations.
• Risks related to corruption and irregularities.

Mitigation Strategies

• Following defined measures in sustainability and environmental strategy.
• Plan to have a fossil-free (TTW) vehicle fleet by 2028 and a carbon-neutral fleet by 2030.
• Reporting CO2 emissions according to EN 16258.
• Monitoring work conditions, leadership, and motivation through annual employee surveys.
• Monthly monitoring of absenteeism and compliance with workplace safety regulations.
• Annual salary surveys to avoid unfair pay gaps.
• Requiring all significant suppliers and franchisees to sign the sustainability policy.
• Anti-corruption policy, information policy, and insider policy.
• Implementation of a whistleblower service and a logbook tool.

Supply Chain Management

Responsible Procurement

• Sustainability policy for suppliers, requiring them to sign it.

Climate-Related Risks & Opportunities

Opportunities

• Increased attractiveness to stakeholders and customers.

Reporting Standards

Frameworks Used: UN Global Compact

Certifications: ISO 14001, ISO 9001

Third-party Assurance: Grant Thornton Sweden AB

UN Sustainable Development Goals

• SDG 8
• SDG 10
• SDG 13
• SDG 17

Environmental Metrics

ESG Focus Areas

• Environment responsibility
• Commitment to customers, employees and other stakeholders
• Sustainability

Environmental Achievements

• Continued supply chain optimization based on enhanced capacity utilization
• CO2 reducing activities with consumption of HVO fuel
• Projects to increase the use of electric vehicles in densely populated areas
• Environmentally friendly driving training for drivers

Social Achievements

• Not disclosed

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Continued financial distress for many airlines (affecting air capacity)
• Increased competition and customer loss in Denmark (Express Road segment)
• Volatile capacity development impacting ad-hoc business (Express Air segment)
• Increasing month-to-month revenue volatility
• Periodic downtrading on larger accounts
• Modest Nordic and European GDP growth leading to price pressure and demand for deferred logistic solutions

Mitigation Strategies

• Contingency plan for potential SAS network dilution
• Improvement plan for Danish Road business
• Realizing M&A opportunities
• Introducing new services
• Optimizing cost efficiency through technology and capacity utilization

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: UN's Global Compact Program

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Environment
• Social
• Governance

Environmental Achievements

• Not disclosed

Social Achievements

• Not disclosed

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Weaker Express Road business in Denmark
• Increased weighted average cost of capital (WACC)
• Reduced revenue from the spare parts logistics market due to customer cost-cutting programs
• Loss of customer contracts and increased price competition in Denmark's Express Road segment
• Market and revenue volatility
• Expected weak macroeconomic development
• Potential increased price pressure and lower demand for logistics solutions
• Ongoing discussions with SAS due to network instability

Mitigation Strategies

• Company-wide cost-efficiency program focusing on personnel reductions and revised incentive programs
• Improvement plan launched in Denmark and Europe
• Exploring drone technology for future delivery chains (pilot project in Sweden)
• Introducing AI solutions to identify process and cost improvements
• M&A strategy to strengthen market position and obtain operational and commercial economies of scale
• Introducing new services to ensure organic growth and strengthen offerings and margins
• Optimizing cost efficiency through improved and automated technology-driven solutions and improved capacity utilization
• Reached an agreement with SAS to ensure a more balanced cooperation with improved quality and cost level

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

• Development of future delivery possibilities using drones and AI solutions

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• environmental responsibility
• human rights
• labor
• environment
• anti-corruption
• CSR

Environmental Achievements

• Exploring new, more environmentally friendly technologies such as AI, drone transports and CO2 neutral road transport solutions.
• Analyzing various means of further improving capacity utilization on the road transport segment as well as enhancing traffic planning and customer support by automated solutions.

Social Achievements

• Not disclosed

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Challenging market conditions with negative revenue trend.
• Lower volume and revenues from the spare parts logistics market in Europe and Finland.
• Business slowdown in Nordic countries.
• Increased competition within the Road Segment.
• Decreased volumes and demand volatility.
• Early Easter vacation in March resulting in reduced first quarter revenues.
• Downtrading and lost contracts in the Danish Road business in 2023.
• Business drops in large accounts in Europe in 2023.

Mitigation Strategies

• Cost efficiency measures and focus on product improvement.
• Profitability review and mitigating actions related to accounts with unsatisfactory margins.
• Improvement program in Danish Road business with cost efficiency program, commercial initiatives and contract signings.
• Aggressive overhead cost reduction program and onboarding of new customers in European business.
• Integration of acquired companies BudAB and Kvalitetstransport.
• Activities focusing on organic growth: broader geographic coverage of services, ramped up sales channels, and digitalized marketing campaigns.
• Cost optimization opportunities from new technologies.

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: UN Global Compact, CSRD (from 2025)

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Human rights
• Labor rights
• Environment
• Anti-corruption
• CSRD framework (reporting from 2026)

Environmental Achievements

• Exploring new environmentally friendly technologies such as AI, drone transport, and CO2-neutral road transport solutions.

Social Achievements

• Member of the UN Global Compact program since 2021.
• 24% of FTEs were women in Q2 2024 (28% in Q2 2023).

Governance Achievements

• Implementing stricter IT policies and conducting cyber risk training for employees.
• Strengthening IT systems and firewalls to reduce risk exposure.
• Harmonizing ERP systems within group companies for improved efficiency and transparency.

Climate Goals & Targets

Environmental Challenges

• Continued weak demand in home markets with only moderate improvement in freight volumes.
• Pressured price levels.
• Some industry segments seeking reduced transport costs by accepting a larger share of non-time-critical logistics services.
• Decreasing revenues in the European operations due to loss of some major contracts.
• Tough market conditions affecting recently acquired companies BudAB and Kvalitetstransport.

Mitigation Strategies

• Improved profitability through completed unprofitable contracts, improved traffic management, and increased air freight in Norway.
• Improved cost efficiency through resource utilization and acquisition synergies.
• Improvement program implemented in Danish Road business focusing on sales activities and cost control.
• Aggressive cost reduction program in European operations.
• Plans in place to fully realize expected synergies from acquisitions, particularly in Norway.
• Focus on organic growth and improved cost efficiency.
• Prioritizing temperature-controlled logistics and specialized services.
• Expanding sales channels through partner concepts and digital marketing campaigns.
• Continuous improvement of cost efficiency, focusing on supplier concepts and increased capacity utilization.
• Ongoing efforts to mitigate cyberattacks through stricter IT policies, training programs, and system enhancements.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: UN Global Compact, CSRD (from 2026)

Sustainable Products & Innovation

• Exploring new environmentally friendly technologies such as AI, drone transport, and CO2-neutral road transport solutions.