Bouvet : ESG Report

SUSTAINABILITY STATEMENT

Excerpt from annual report

WE LEAD THE WAY AND ​BUILD TOMORROW'S SOCIETY

ESRS Sustainability Statement

1. General

ESRS-2 General disclosures

subsidiary Bouvet Norge AS as of 2 October 2023, but is not included in this year's sustainability statement.

BP-1 - General basis for preparation of Bouvet's sustainability statement

Bouvet's sustainability statement relates to the group as a whole. It gives an account of the areas in which the group has a material impact on its surroundings, as well as areas in which sustainability-related risks and opportunities have a material financial impact.

The purpose of the sustainability statement is to provide an accurate and transparent picture of the group's operations, as well as associated goals, guidelines, results achieved and measures in relevant areas. The statement is structured to be consistent with the Norwegian Accounting Act, and includes references to the chapter in Bouvet's Annual Report 2023 on Bouvet's Statement on Equality and Anti-Discrimination and Bouvet's separate report on the Norwegian Transparency Act. In preparing the statement, Bouvet has given the statement equal status to the group's financial report.

The statement covers Bouvet ASA's subsidiaries Bouvet Norge AS, Olavstoppen AS and Bouvet AB, which are all consultancy firms with a common strategic platform and business model.

The subsidiary Sesam.io AS is an SaaS provider which delivers specialised data integration and master data management products and has a strategy and business model adapted to this type of company. The decision has been made to exclude the company from this year's report, due both to the type of company and the fact that Sesam.io AS does not account for a significant proportion of Bouvet's revenues. However, Bouvet plans to include Sesam.io AS in next year's annual report.

The sustainability statement covers the group's entire value chain, but focuses primarily on own operations. This is in line with the findings of the group's double materiality analysis, which was revised in the autumn of 2023.

BP-2 - Disclosures in relation to specific circumstances

The sustainability statement covers the period 1 January 2023-31 December 2023. There were no unusual events in the group during this period, with the exception of the acquisition of Headit AS, a consultancy firm with 35 employees based in Hamar, Norway. Headit was merged into Bouvet's

Time horizons

The group applies the time horizons defined in the ESRS: short horizon = up to one year, medium horizon = one to five years and long horizon = five+ years.

Disclosure of metrics

Calculations which include value chain data related to climate change (ESRS E1) have been prepared using the Eco-Lighthouse framework. The calculations are based on company-specific data (such as supplier-linked greenhouse gas emissions), collected by the group itself, combined with standard data on greenhouse gas emissions included in the Eco-Lighthouse tool.

Data related to reporting areas falling under Own workforce (ESRS S1) comprise data from employee surveys, general market analyses in the area of employer branding, Bouvet's incident notification system and Bouvet's HR system.

Data related to working conditions in the supply chain are based on Bouvet's due diligence assessment pursuant to the Transparency Act.

Other relevant sources are also drawn on, including findings from Bouvet's customer surveys, accounting, timekeeping and project system and specific items of accounting data retrieved from the company's accounting system and reporting solution.

Data collection

Data stemming from environmental and climate reporting by each region's own suppliers and operations is collected by regional representatives. In addition, the finance function assists with the extraction of data from accounting, timekeeping and project systems. The data form the basis for reporting through the Eco-Lighthouse tool. The person responsible for the environmental network checks that the information is correct. The process incorporates data from the previously mentioned subsidiaries.

Employees from group functions retrieve other data from the group's systems for calculation, collation and quality control purposes.

Data quality

Data extracted for use in reporting on the group's own operations and upstream use are considered to be of acceptable quality pursuant to the Eco-Lighthouse framework.

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To the greatest extent possible, Scope 3 is based on estimates for the year 2023, although data collection needs to be expanded to include more of the group's suppliers. The group plans to evaluate new data collection solutions going forward.

Plans to improve accuracy of data and data quality

The group works continuously to improve data quality. A data quality manager has been appointed to lead these efforts and, in the longer term, to examine possibilities for automating data capture to replace manual processes.

In addition, the group is working to identify which data will be relevant and available for objective and correct reporting of Bouvet's impact in the area of ESRS - E1 relating to customers. Key measures in this regard are customer dialogue and long-term efforts to survey internal and external data sources.

As regards supply chain improvements, work is ongoing to identify better, richer data from internal and external sources.

GOV-1 - The role of the administrative, management and supervisory bodies

At the end of 2023, the group's board of directors consisted of five shareholder-elected board members. Bouvet ASA has no employees. Consequently, the board members were not employees and the board had no employee representatives.

The five shareholder-elected board members are indepen- dent. Collectively, they have long and varied experience from the construction and civil engineering, IT, industry, energy, banking/finance and public administration sectors, as well as organisational, management and finance expertise.

The board of directors of Bouvet ASA consists of two women and three men, and thus has a female share of 40%.

Bouvet.noprovides an overview of the company's board members and management.

Uncertainty attaching to financial risks and opportunities

A high degree of uncertainty attaches to the basis for calculating financial risks and opportunities in all areas defined as material to the group. The group plans to examine this topic more closely in 2024.

Changes in preparation or presentation of sustainability information

Bouvet's sustainability statement for the financial year 2023 has been restructured in accordance with the ESRS (European Sustainability Reporting Standard). This includes a major revision of the double materiality analysis, a step which has affected the weighting determining which data points the group deems material.

Since the group's double materiality analysis has undergone a major revision, the presentation and structure of the sustainability statement are not directly comparable to previous years. However, no major deviations or errors have been identified in earlier reports.

Bouvet reports in accordance with the requirements of the Norwegian Transparency Act. For further details, see the Transparency Act Report published on bouvet.noand the Statement on Equality and Anti-Discrimination issued in accordance with the Norwegian Equality and Anti-Discrimination Act. See also chapter page 34 of the Annual Report 2023.

Standards and certifications

Bouvet is certified according to

• NS-ISO/IEC9001:2015 Quality management systems
• NS-ISO/IEC14001:2015Environmental management systems
• NS-ISO/IEC27001:2017 Information security
• Eco-Lighthouse

The group's guidelines, which form part of Bouvet's management system, have been revised in accordance with the group's ISO certifications.

Information about roles and responsibilities of administrative, management and supervisory bodies

Responsibility for sustainability rests with management and the board of directors as described below:

• Board of directors: overall strategic responsibility for sustainability.
• CEO: ultimate responsibility for Bouvet's compliance with laws and regulations in the area of ESG, as well as for Bouvet's strategic platform.
• Regional managers: responsible for regional customer, expertise and service development.
• CFO: responsible for compilation and reporting.
• Quality manager/CISO: responsible for delivery quality, including safety, administration, implementation of ISO certifications, recertifications and the Transparency Act.
• Head of HR: responsible for organising and implementing management development focused on ESG topics, for Bouvet's Code of Conduct and for compliance with activity and reporting obligations.
• Communications director: responsible for internal and external communication with company stakeholders.

Information about reporting lines to administrative, management and supervisory bodies

The regional model is fundamental to Bouvet's governance structure. It gives the individual regions and management teams a high degree of autonomy within the framework of the group's strategic platform, management principles, management systems and control systems.

The areas which are material to the group in terms of sustainability largely correspond to existing focus areas within the organisation. The reporting structure is therefore integrated into existing forums and networks, quality control systems and reports to managers on key figures.

New and updated requirements are incorporated into Bouvet's management systems and system support on an ongoing basis.

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Disclosure of how administrative, management and supervisory bodies and senior executive management oversee setting of targets and monitor

The double materiality analysis shows that the main areas identified as material to the group have logical links with the company's long-term goals: best workplace, long-term customer relationships and successful operations. (See the detailed description of Bouvet's strategy and goals in the section on SBM - 1, on page 13.) The process of defining sustainability goals and indicators is therefore a natural element in the annual business plans of the group and the regions.

Climate change goals are set annually by regional managers and the managers of group functions. The goals are based on dialogue with the regional management groups and stakeholder engagement. Monitoring takes place quarterly.

Goals related to corporate governance and the supply chain are set by the group's quality network, which consists of representatives from all regions, regional management and managers within group functions. Responsibility for goals and monitoring lies with the head of information security and the CEO, among others. Status is monitored continuously, while due diligence assessments are conducted quarterly.

Reporting is included in the board of directors' annual activity plan.

Information about sustainability-relatedexpertise that bodies either directly possess or can leverage Bouvet's board of directors comprises persons with a broad

background in the fields of technology, communications, finance and management. Two board members have sustainability expertise, acquired through training and other appointments.

Bouvet's management team consists of persons with extensive experience from the consultancy industry. Managers receive training through the group's management programme.

The double materiality analysis shows that the social dimension is the group's most important sustainability-related area. Since being founded, Bouvet has followed the principle that employees come first. "Employees first" is part of the group's DNA, and fundamental to its strategy, structure and day-to-daydecision-making.

The company has also developed expertise in climate-related areas, including through ISO certification and the implementation of the Eco-Lighthouse framework in 2015. The group's environmental agents, who form part of the organisation's environmental network, work continuously on climate-related issues. This includes ongoing skills development concentrating on tasks linked to Eco-Lighthouse and ISO 14001 requirements.

At group level, Bouvet is working to build expertise related to ESRS - E. The aim is refine the reporting basis for downstream and upstream activities in the value chain.

Safety is a key priority for the group with respect to ESRS - G. This area is undergoing major development, and the group is working continuously to provide training in and update structural expertise.

All Bouvet employees receive relevant training to enable them to perform their roles, through both the group's onboarding programme and the Grunnsteiner i Bouvet training programme.

G1-GOV-1 - Description of management's role in governance processes, controls and procedures used to monitor, manage and oversee impacts, risks and opportunities

Bouvet's board of directors monitors group management's compliance with good business practices, as well as applicable rules and regulations and the group's Code of Conduct.

Group management is required to identify all relevant risk factors, including financial risk, market risk and operational risk. Other relevant factors include reputational risk, risk related to access to expertise and IT security risk. Moreover, management has to ensure that the group has the risk management systems and tools it needs to reduce the occurrence of undesirable strategic, operational or financial events.

The Code of Conduct states that the group is committed to conducting its business responsibly, ethically and in accordance with laws and regulations. Managers must be good role models, and have a particular responsibility to act in accordance with the intentions of the Code of Conduct. Managers must regularly communicate the importance of compliance with the Code of Conduct, and provide employees with necessary training.

Effective management is a key driver of safety, job satisfaction and good performance. The group has adopted five principles which are closely aligned with Bouvet's values and provide a clear framework for good leadership:

• Maintain close contact
• Build a strong community
• Cultivate diversity
• Adopt a long-term perspective
• Seize opportunities

At Bouvet, safety representatives also function as local employee representatives, i.e. as a link between employees and management on matters which are not natural for individual employees to raise directly with their line manager.

The working environment committee is a decision-making and advisory body. It includes equal numbers of employer and employee representatives.

The quality manager plays a central role in risk management and quality assurance of assignments. The quality manager is also responsible for management systems and ISO certificati- ons. Regional quality managers are responsible for local

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operationalisation of quality work, as well as ensuring compliance with, advising on and assisting with the quality system at regional level. Regional quality managers and the quality manager collaborate on the administration and refinement of the group's management systems.

GOV-2 - Information provided to and sustainability matters addressed by Bouvet's administrative, management and supervisory bodies

Each year, regional managers, managers of group functions and other stakeholders collaborate to refine the group's double materiality analysis. The material impacts, risks and opportunities which Bouvet has identified relate to areas which are already part of the organisation. In other words, ownership, line management support, information and implementation are already covered by existing information structures and decision-making bodies.

The group's reporting platform primarily covers areas which are material with respect to the monitoring of results. Bouvet's managers therefore have continuous insight and can monitor developments in their own areas, and can set targets based on local conditions. In the area of climate, quarterly reports are prepared for the individual regions.

The reporting platform does not include reports on employee and customer satisfaction. In this area, the practice of conducting annual surveys will continue.

Safety-related areas are monitored continuously and are put on the agenda as necessary or in response to specific incidents.

Further, sustainability is firmly on the board of directors' agenda, including through its inclusion in the board's annual activity plan.

Disclosure of how administrative, management and supervisory bodies consider impacts, risks and opportunities when overseeing strategy, decisions on major transactions and risk management process

The group considers that the areas which are most material in terms of sustainability-related impact, risks and opportunities are covered by Bouvet's vision, ambition, business concept, long-term goals and values, which also constitute the foundation for the group's governance structures, internal controls and risk management.

GOV-3 - Integration of sustainability-related performance in incentive schemes

Remuneration paid to the CEO and other group executives consists of a fixed basic salary and a variable component in

the form of a share of profits. The size of the variable component depends on the extent to which financial targets are achieved. Based on the double materiality analysis, financial targets will also cover areas which are material in terms of sustainability.

A more detailed discussion of Bouvet's executive remuneration guidelines can be found at: https://www.bouvet.no/investor

Description of specific sustainability-related targets and (or) impacts used to assess performance of members of administrative, management and supervisory bodies

The group's double materiality analysis shows that Bouvet's greatest impacts, financial risks and opportunities are primarily related to its own workforce (ESRS - S1).

This underlines the importance of employee satisfaction and desire to participate in the company's development. Employees need to have the right expertise to be able to produce the results clients want. This is why Bouvet invests heavily in skills development and knowledge-sharing.

The company's managers prepare status assessments based on indicators such as key figures for growth in the number of employees, sickness absence and invoicing rate. These are linked with the results of the annual employee survey and customer surveys.

External market analyses which reveal Bouvet's attractiveness as an employer are important for identifying what the company needs to work on to attract qualified employees.

Disclosure of how sustainability-related performance metrics are considered as performance benchmarks or included in remuneration policies

The group's profit sharing is not broken down into individual incentive-scheme KPIs. Operating a collective scheme is key to ensuring flexibility and knowledge-sharing within the company, including with regard to sustainability.

The group's incentive scheme is approved annually by Bouvet's board of directors.

GOV-3/E1-GOV-3 - Integration of sustainability-related performance in incentive schemes

Bouvet operates a performance-based, collective bonus programme where any profits are shared with the employees. The purpose of such profit-sharing is to reward and motivate the employees to collectively pursue the group vision of 'leading the way and building the society of the future'. This vision reflects our joint strategic platform as described under SBM-1 on page 13.

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GOV-4 - Statement on due diligence

FACTOR IN DUE DILIGENCE ASSESSMENTS	REFERENCE IN THE SUSTAINABILITY STATEMENT
a) Embedding due diligence in governance, strategy and	See page 13 ESRS2 - SBM1: Strategy, business model and value chain
business model
b) Engaging with affected stakeholders	See page 15 ESRS2 - SBM2: Interests and views of stakeholders
c) Identifying and assessing negative im-pacts on people	See page 16 ESRS2 - SBM3: Material impacts, risks and opportunities and
and the environment	their interaction with strategy and business model
d) Taking action to address negative impacts on people	See page 24 ESRS E1, page 27 ESRS - S1 and page 32 G1
and the environment
e) Tracking the effectiveness of these efforts	See page 24 ESRS E1, page 27 ESRS - S1 and page 32 G1

GOV-5 - Risk management and internal controls over sustainability statementing

Bouvet's managers give high priority to having robust risk management and internal control procedures in place. These apply in areas identified by the company's double materiality analysis. Management has a particular focus on:

• employee training and motivation
• work procedures, rules and regulations, instructions and authorisations
• organisational matters
• financial reporting
• information security
• decision support and availability of information
• customer satisfaction
• assignments and delivery

The annual employee survey, which measures job satisfaction and loyalty, is used as the basis for action plans for individual managers and regions. The working environment committee is involved in internal control measures.

As regards work procedures, rules and regulations, instructions and authorisations, the company implements annual audits and recertification under ISO 27001, ISO 9001 and ISO 14001. These ISO frameworks incorporate work and control procedures.

The quality network assesses the group's suppliers with regard to possible human rights violations, and quarterly internal controls are carried out by an administrative body which includes representatives from group functions.

Disclosure of risk management and internal controls over sustainability statementing

The ESRS structure lays down guidelines for managing risk. The framework provides a detailed description of the steps involved in the sustainability reporting process.

Supplementary methodology and processes are documented and evaluated annually to capture any changes in access to data, data quality or external and internal factors, including legislation. Each step in the methodology is evaluated and refined to ensure that the group reports on material areas.

The core group working on the sustainability statement is an interdisciplinary team representing different functions within Bouvet. Staff from group operations and external advisers may also be brought in to ensure that sustainability expertise is correct and up to date.

Description of how findings of risk assessment and internal controls as regards sustainability statementing process have been integrated

Risks identified in the double materiality analysis have been evaluated by reference to internal controls and been deemed to be adequately addressed by these. In other words, the risks are managed through the group's existing procedures and principles.

Description of periodic reporting of findings of risk assessment and internal controls

Annual risk assessment and internal controls are reported to the board of directors. This also applies to customer and employee surveys, which are important resources for the board and individual managers in their efforts to further develop the organisation, employees and customers.

In the event of incidents relevant to information security and supply chains, a risk check is carried out immediately to facilitate further reporting.

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SBM-1 - Strategy, business model and value chain

Bouvet is a leading consultancy firm in the IT and digital communication sectors. The group's employees understand their clients' businesses and work with them to find effective long-term solutions.

The group operates in the ESRS sector K.62.20 Computer consultancy activities and computer facilities management activities.

Bouvet has branches in Norway and Sweden, and had 2,311 employees as at 31 December 2023.

In 2023, the group generated total revenues of NOK 3,525.8 million.

The overview below shows the sectors which account for the largest proportions of Bouvet's sales:

Table 1: Sector overview

SEKTOR	JAN-DEC 2023
Power supply	17.0%
Health	1.6%
Industry	4.2%
Information and communication	4.0%
Public administration and defence	17.3%
Oil, gas and renewables	41.0%
Service industry	5.1%
Transport	4.8%
Retail	3.1%

Description of sustainability-related goals in terms of significant groups of products and services, customer categories, geographical areas and relationships with stakeholders

Changes in society and associated customer needs in the areas of digitalisation and sustainability are large, complex and interdependent. This is reflected in several of Bouvet's assignments for clients which are important stakeholders in the energy, industry, transport, health and public sectors.

Customers are showing increasing commitment to sustainabi- lity. Many are embarking on environmental and climate transformation projects to fulfil regulatory requirements and refine their ESG goals. There is increased awareness and knowledge of the impact of digitalisation. Bouvet is an important partner in digitalisation projects with an effect on technology, users, organisations and businesses. By adopting an interdisciplinary approach and emphasising development and change, we are facilitating long-term gains.

Bouvet's objectives are high employee and customer satisfaction and long-term customer relationships, as well as the addition of new customers which the group can support in line with its vision.

Bouvet's regional operations assess clients and assignments based on the group's strategic platform and the framework staked out by the management and quality system. Services are developed continuously in close collaboration with clients to ensure that they are relevant and meet client needs. Corresponding efforts are made on an ongoing basis in the area of sustainability.

Disclosure of elements of strategy that relate to or impact sustainability matters

The group does not have a separate sustainability strategy, as sustainability is integrated into the group's strategic platform. Bouvet is founded on the knowledge of its employees and the group's knowledge-sharing culture, which ensures the dissemination of employee expertise and advances in knowledge and technology, as well as alignment with customer needs.

This is reflected in the group's overarching vision of 'building the society of the future'. The vision is incorporated into Bouvet's strategic platform, which includes our ambition of 'being the most trusted consultancy firm with the most satisfied employees and customers'. The fact that the ambition statement mentions employees first illustrates the core of the group's DNA, namely that all staff contribute to the group's development. Values such as credibility, knowledge-sharing, freedom, a down-to-earth approach and enthusiasm support and empower individual employees in this regard.

While the strategic platform provides the foundation and framework, it is Bouvet's culture and decision-making over time which create the strategy. The group's three long-term goals - best workplace, long-term customer relationships and successful operations - provide direction.

Bouvet's regional model supports its strategy. Proximity to customers, short decision-making paths and little bureaucracy give the group forward momentum, and give individual employees opportunities and they skills they need to overcome complex challenges in a rapidly changing society.

Credibility is key in sustainability work. The starting point for Bouvet's approach in this area is "show, don't tell". In other words, the group's strategy, measures and ability to exert influence are primarily expressed through knowledge-sharing and cooperation in the context of customer relationships.

Further, it has been decided that the group will apply the following four priorities in its sustainability work:

• Bouvet will emphasise sustainability in all relationships with clients and partners.
• Bouvet will develop and share sustainability expertise.
• Bouvet will embrace an inclusive and diverse culture.
• Bouvet will seek to be an example by keeping its own house in order.

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We will emphasise sustainability in all relationships with clients and partners

We will embrace an

LONG-TERMinclusive

and diverse

PERSPECTIVE culture

We will develop	RESPONSIBILITY
and share
sustainability
expertise

We will seek to be an

example by keeping our

own house in order

Description of business model and value chain

Bouvet's business concept is that 'employees' culture, expertise, community and proximity to clients make Bouvet a driving force for innovation and improvement'.

Its broad range of services in the information technology, design, communication and business management fields makes Bouvet a full-service supplier and long-term strategic partner for many clients, and thus an important facilitator of and contributor to their sustainability efforts.

Description of main features of upstream and downstream value chain and Bouvet's position in value chain

Bouvet's sub-contractors are mainly sub-consultants from countries in which Bouvet operates. Together with the group's

own employees, these consultants facilitate value creation for customers. Sub-consultants are engaged in compliance with applicable rules and regulations.

Work on the Norwegian Transparency Act has revealed a need for monitoring of hardware suppliers and manufacturers, for example of PCs/Macs and mobile phones - as Bouvet has little influence on these. These two groups are monitored in accordance with the company's procedures. See the group's separate report on the Transparency Act on bouvet.no.

Bouvet can maximise its influence in the area of sustainability through its collaboration with clients and partners. The group's employees can leverage their expertise to influence energy consumption and CO2 emissions, and to develop solutions which safeguard digital social responsibility.

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SBM-2 - Interests and views of stakeholders

Through stakeholder dialogues over the past four years, Bouvet has identified what stakeholders consider important for Bouvet with regard to sustainability efforts.

Table 2: Stakeholder engagement and stakeholder focus areas and needs

STAKEHOLDERS	ENGAGEMENT	FOCUS AREA	INTEREST/PRIORITY LEVEL/NEEDS
Employees	• Performance reviews	• Interest and engagement	• Focus on what the group can achieve with
	•	Employee surveys	•	Job satisfaction and loyalty		regard to sustainability, how this can be
	•	Involvement of employee	•	Attractive employer		done and how individuals can innovate and
		representatives related to	•	Expertise development		contribute.
		the DMA			•	Job satisfaction and a desire to participate in
						the company's development.
Potential new	•	Market analyses	•	Expectations	•	Individuals give weight to our opera-
employees	•	Recruitment processes	•	Attractive employer		tions' strategies, social responsibility and
	•	Presence in relevant				sustainability-related contributions, as well
		arenas				as their own experience of our values, when
						considering Bouvet as a potential employer.
Customers	•	Customer satisfaction	•	Expectations and	•	Many Bouvet clients have high sustainability
		surveys		requirements		ambitions.
	•	Quotation requests			•	Increasing expectations of Bouvet in its
	•	Customer assignments				capacity as a supplier and a link in customer
	•	Customer dialogue				supply chains.
	• Customer dialogue
		regarding the DMA
Suppliers	•	Quarterly assessments	•	Requirements and	•	Increased focus on sustainability throughout
				expectations		the value chain.
			•	Identify risks and measures	•	The adoption of the Transparency Act is brin-
						ging about changes and developments which
						will impact Bouvet.
Partners	•	Dialogue and sharing of	•	Sharing of expertise,	•	Our cloud partners are constantly working on
		expertise		cooperation and opportu-		new services and tools to reduce the climate
	•	Quarterly assessments		nities		and environmental footprint of data storage.
			•	Requirements and	•	Dialogue and the sharing of expertise in this
				expectations		area with partners is important in Bouvet's
						assignments.
					•	Our efforts related to the Transparency Act
						will also impact these relationships.
Interest	•	Active participation in	•	Dialogue and understanding	•	The ICT industry has a particularly important
organisations		industry networks	•	Academia and industry		role to play in helping individual businesses
	•	Active sponsor of GoForIt,		collaboration		and Norway as a whole to achieve the SDGs.
		a project under ICT	•	Technology and sustainability	•	Interest organisations allow businesses to
		Norway				cooperate, share expertise and experience,
						and participate in joint initiatives which, for
						example, impact the value chain in accor-
						dance with the Transparency Act.
Owners	•	Dialogue with board	•	Sustainability-related risks	•	Owners are focused on, for example, a long-
		representatives and		and opportunities		term perspective and that Bouvet should be
		selected owners				involved in socially beneficial assignments, as
	•	Board/owner meetings				well as the company's internal culture and its
		concerning the DMA				strategy for sustainability work.
Other stakehol-	•	Meetings with the	•	Requirements and	•	Other stakeholders impose requirements and
ders (authorities,		financial sector regarding		expectations		have expectations regarding Bouvet and the
society and the		the DMA				group's development.
financial sector)

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SBM-3 - Material impacts, risks and opportunities and their interaction with strategy and business model

Bouvet's double materiality analysis (DMA):

Table 3: Climate change (ESRS E1)

TOPIC		VALUE CHAIN	IMPACT, OPPORTUNITY, RISK
Scope 1 - emissions from own operations	Own operations	Impact
Scope 2 - emissions from purchased energy	Own operations	Impact
Scope 3	- supply chain emissions	Upstream value chain	Impact
Scope 3	- emissions from customer projects linked to how projects are run	Downstream value chain	Impact
and the direct contribution of the projects to energy consumption
New services or new markets for delivering on our vision	Downstream value chain	Opportunity

Table 4: Social - Own workforce (ESRS S)

TOPIC	VALUE CHAIN	IMPACT, OPPORTUNITY, RISK
Own workforce S1
Safe and secure work	Own operations	Impact
Fair pay	Own operations	Impact
Work-life balance	Own operations	Impact
Diversity and equality	Own operations	Impact
Expertise development	Own operations	Impact
Equal treatment and equal opportunities	Own operations	Impact
Perceived focus on employees in accordance with the ambition (reputation)	Own operations	Risk
Attractive workplaces (culture and reputation)	Own operations	Opportunity
The right expertise	Own operations	Opportunity
Local representation	Own operations	Opportunity
Local communities (S3)
Jobs in rural areas	Local communities	Impact

Table 5: Business conduct (ESRS G1)

TOPIC	VALUE CHAIN	IMPACT, OPPORTUNITY, RISK
Business conduct and culture	Own operations	Impact
Assignments and deliverables	Downstream value chain	Impact
Compliance with the Transparency Act and maintaining efforts	Own operations	Risk

Bouvet's double materiality analysis shows that the group has the greatest negative impact in the following areas:

• ESRS - E1: In terms of Scope 1, 2 and 3 CO2 emissions, the group has a negative impact as defined in ESRS - E1. ESRS - E1. Bouvet - which leases its premises and only owns a few motor vehicles - has no significant emissions in Scope 1. The company's Scope 2 emissions are linked to energy purchased for its premises. The group has the greatest negative impact in Scope 3. The largest identified Scope 3 emissions relate to employee travel. As regards downstream activities, the negative impact in this area is determined by which assignments Bouvet accepts, choices made and how assignments are executed, as well as the extent to which Bouvet contributes to clients' sustainability initiatives.

• ESRS - S1: Bouvet's greatest impact linked to its own operations is within ESRS - S1, i.e. its own workforce. This includes the employees' opportunities to engage in safe and secure employment, conditions, the scope for combining work and private life, equal treatment rules, forms of working and development opportunities. Through our regional model, we maintain a local presence and create local jobs, and have expertise available in our various locations.
• ESRS - G1: The group's corporate governance and business conduct affect the group in general, and its culture and working conditions in particular. Governance and conduct are also of great importance with respect to, for example, which assignments the group accepts and how they are executed.

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