Acerinox, S.A.

Since 2021, the Group has also had a responsible purchasing policy aimed at consolidating suppliers, maintaining stable and lasting relationships, sharing ethical criteria, and promoting sustainable value creation.

Favorable audit report for the Group’s nine companies in Spain to obtain UNE 19601 certification for criminal compliance management systems.

Complete the implementation process for the Crime Prevention Program at all group companies.

Specific training on money laundering, terrorism, criminal groups, fraud, and punishable insolvency.

Implement the Crime Prevention Program at VDM companies.

Modified the Group’s whistleblowing channel per Law 2/2003, which transposes the Whistleblowing Directive into Spanish law.

Complete the corporate regulation integration process at all the Group’s subsidiaries.

Created a repository of all Group regulations, called ACERINORM, available to all Group employees.

Provide training in the prevention of harassment and crimes related to the use of digital services and resources.

Reviewed and re-evaluated risks related to the following crimes: harassment, hate speech, discovery and disclosure of secrets, digital sabotage and damage, intellectual and industrial property right infringements, and tax offenses.

Progress in the implementation of the Human Rights due diligence model.

Implement smuggling prevention measures, social security, foreign citizens’ rights, investment fraud, and land and urban planning at non-Spanish companies.

Verification of product carbon footprint per ISO 14067, including scope 1, 2 and 3 for each steel family.

Launch of the ECO ACERINOX range of sustainable products.

Economic quantification of physical and transition climate change risks, in line with the TCFD recommendations.

Review of decarbonization targets, taking SBTI into account.

Increase in the use of renewable energy and contracting of new renewable PPAs.

2023 Integrated Annual Report

In 2023, the Group analyzes its facilities’ areas of influence; it identifies the level of water stress of these areas based on the World Resources Institute (WRI) and updates the future projections of the hydrographic basins where it operates.

A climate risk analysis was also conducted in 2023, which included the risk of water stress.

In 2023, it offered a total of 35 courses at various Spanish universities - including two at high schools - in order to make stainless steel more familiar to almost 1,500 engineering and architecture students, 95 high school students, 74 university professors and 8 high-school teachers. Courses have also been held at 4 companies, with a total of 42 attendees.

Completion of the management by objectives (MBO) policy roll-out for the entire workforce and its inclusion in the target-based variable remuneration.

Consolidation of the Group’s positioning in a culture of recognition and pay for performance.

Inclusion of women executives or women with high potential in the Progress-Promotion programs rolled out by CEOE-ESADE.

Raising awareness of female leadership in different socio- cultural environments to support female talent attraction in the industry.

Carrying-out of various publicity initiatives, such as “Get to Know Stainless Steel.”

Strengthen internal and overall communication through digital transformation.

Implementation of measures to continue strengthening leadership and professional development with Acerinox’s development plans, continuing with the “Ignite Next Generation” and the “Leadership Academy” programs.

Extend the “Leadership Academy” program to the entire Acerinox Group and strengthen our know-how, best practices, and synergies across factories within the Group through technology, training, and knowledge sharing.

Appraising all the organization’s job positions under the certified system.

Improve effectiveness, efficiency, and decision-making through digital systems and tools for people management.

Establishment of initiatives and roadmap to comply with parity regulations of the board of directors and the Management Committee.

Continue to enhance our leadership in diversity, equality, and inclusion and comply with the principle of parity.

A significant reduction in the Group’s accident rates: 24% LTIFR and 18.5% TRIR

ISO 9001, 14001 and 45001 certification of our main production centers

Consolidation of HSE management system integration

Monitoring of a leading indicator panel on HSE performance

Proactive HSE and process safety indicators dashboard

Variable compensation linked to reduction of the LTIFR (group) / IRR (business unit) ratio

Variable compensation linked to reduction of TIR (group / business units)

Launch of the cardinal safety and environmental rules Deployment of safety culture and leadership model

In 2023 the code of conduct for business partners was approved, which defines Acerinox’s principles and requirements with respect to its suppliers of goods and services, and vis‑a‑vis intermediaries, advisors and other business partners.

VDM Metals supports the Balthasar Children’s and Youth Hospice. For the first time since the pandemic, the traditional charity run around the Altena plant was held. The participants covered a total distance of about 400 km. The proceeds were donated to the hospice to strengthen its services.

Acerinox Europa employees and their families participated in a reforestation day in the Los Alcornocales National Park, Europe’s only subtropical forest, which is threatened by serious problems such as drought. The “Sowing the Future” solidarity initiative promotes environmental awareness among our employees and children.

Such initiatives notably include Funda Market, a solidarity market where products made by members from the Foundation combine with more than 50 brands to produce a weekend agenda for the whole family. In addition, we also held Family Day, where employees and their families participated in various activities at the foundation.

For the first time, Acerinox participated in the CAMPVS program, which aims to facilitate access to the workforce for students with intellectual disabilities. Company volunteers mentored the students in one-on- one meetings to help bring the working world closer.

As of December 31, 2023, Acerinox had a global staff of 8,229 professionals, 33% (2,660 people) of whom work in Spain.

TIR reduction target -26% compared to 2023

For 2024, we are being even more ambitious, setting an accident rate reduction target of 26% for the TIR vs. 2023 for employees and contractors.