Globaltrans Investment : Sustainability Report 2023

Annual Report

• Accounts 2023

		Sustainability Report		Governance	62	63

Sustainability

We are delighted to share our 6th annual Sustainability Report, which showcases our ongoing commitment to ESG initiatives throughout the Group. The Report covers the progress we have made in those focus areas that are not only critical to our business but also of interest to our stakeholders. The reporting format aligns with GRI standards and TCFD recommendations, underlining our commitment to transparency and accountability.

In this		p. 74
section		Employees
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p. 86

Environment

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p. 92

Climate-Related Financial

Disclosure

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Overview

Strategic Report

Sustainability Report

Governance

Financial Statements

Additional Information

Sustainability

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Overview

Our approach

The Sustainability Report, which is integrated into the 2023 Annual Report, has been prepared in accordance with the sustainability reporting guidelines of the Global Reporting Initiative ("GRI") and Task Force on Climate-Related Financial Disclosures ("TCFD") recommendations.

The overall aim is to achieve high standards

in the areas of balance, comparability, accuracy, timeliness, clarity and reliability, as defined

by the GRI Standards. The structure and content of this Sustainability Report reflects the relevant GRI Standards Principles. The details within this Sustainability Report cover the key results and activities of Globaltrans Investment PLC and its subsidiaries in the field of sustainable development for the year ended 31 December 2023.

ESG Strategy

ESG Oversight

Sustainable development has always been one of our top priorities, and we take it very seriously. Since 2018, the Group has made significant strides in integrating ESG factors into our daily business operations

and developed a comprehensive ESG monitoring, management, and reporting programme. Leadership on ESG issues has always started with the Group's CEO.

Over the past few years, we have enhanced our ESG governance structure - from proactively implementing sustainability commitments, policies and practices to hiring additional expertise and creating a new Board Committee.

The ESG Committee has overall responsibility for the Group's sustainability strategy

and is the Company's top unit in charge

of sustainable development issues. The Committee was established in January 2021 to support and direct the Group towards improving its sustainability- related practices and policies, and its reporting

and transparency. Its creation reflects the Group's conviction that behaving responsibly underpins our ability to deliver sustainable value for all our

Materiality

Globaltrans identifies its material sustainability issues through a materiality analysis. Materiality plays a significant role in the management of our sustainable development, making it possible to identify the Group's key ESG issues.

In 2023, we conducted a double materiality assessment to identify and prioritise our sustainability topics, and applied the principles of double materiality from a business and social impact perspective. The most important sustainability topics were employee safety, economic performance, business ethics and compliance as well as the minimisation of environmental footprint. While these topics have helped us to determine our strategic priorities, they do not limit the scope of our ESG efforts. We intend to repeat this assessment periodically and collect feedback from our stakeholders on a regular basis.

How it works:

Step 1	We identify material topics relevant
Identification	to the Group's business operation
by carefully reviewing and analysing global
of material
sustainability trends, our sustainability
topics
performance, internal regulations and non-
	financial reports issued by peers.
Step 2	To develop a broader, deeper understanding
Prioritisation	of the materiality of the sustainability issues
the Group faces, we seek input from a range
of material
of stakeholders (employees, shareholders,
topics
investors, clients, regulators and other
	authorities) on what matters to them.
Step 3	We develop a materiality matrix
Preparation	to identify those topics that are deemed
most important to the Group's system
of materiality
of sustainability reporting.
matrix

Strategic Report

Sustainability Report

Governance

Globaltrans' sustainability strategy is based on a set of key environmental, social and governance ("ESG") priorities that serve as the guiding principles for all its operations and decisions. They are deeply embedded in the Group's culture and values, shaping its actions and driving its impact on society and the environment. These ESG priorities include:

• delivering business efficiency and best-in-class services;
• creating long-term value and serving the needs of a vast group of stakeholders;
• keeping our employees safe, engaged, motivated and empowered;
• minimising our environmental footprint and promoting sustainability;
• making positive contributions to the communities where we operate.

stakeholders. By assisting the Board with the oversight of ESG-related issues, the Committee supports

the development of a practical Group-wide approach to sustainability and disclosure. The Committee's efforts were bolstered by the adoption of a formal ESG policy in January 2021 that sets out formal ESG commitments and established lines of responsibility and accountability.

Materiality matrix

stakeholder	important		3			4	12	1
2	5	6	8	10		9
Extremely
Materiality for			7	11
Important
	Important		Materiality for business			Extremely important

Economic impact	Environmental impact	Social impact
1. Economic performance	5. Risks and opportunities posed by climate	9. Employee education and development
2. Socioeconomic development of regions	change	10. Employee motivation
3. Business ethics, risk management and	6. Management of carbon footprint	11. Diversity and equal opportunity
7. Reduction of energy consumption	12. Occupational health and safety
anti-corruption
8. Compliance with environmental laws
4. Customer satisfaction
and regulations

Financial Statements

Additional Information

Sustainability

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Overview

Highlights of 2023

ESG Executive Summary

Strategic

Overall staff turnover improved to

16%

(2022: 19%)

2%

year-on-year

decrease in the Group's total emissions (Scope 1 and Scope 2)

First-time disclosure of waste management data

52,184

total training hours

recorded across the Group companies

Despite stringent safety regime Loss Time Injury

Frequency Rate1 (LTIFR) increased to

0.90

Gender pay gap at the non-managerial level stood at 1%, reflecting higher proportion of male employees

In 2023, despite the challenging global context, we remained committed to our purpose and values. We maintained our focus on operational efficiency while staying true to our principles of reliability, safety, ethics, and transparency. At Globaltrans, we recognise that sustainability is a journey that requires continual improvement. There is always more to do, and we constantly strive to improve our performance in order to drive positive change and foster long-term value creation.

We are delighted to share our 6th annual Sustainability Report, which showcases our ongoing commitment to ESG initiatives throughout the Group. The Report covers the progress we have made in those focus areas that are not only critical to our business but also of interest to our stakeholders. The reporting format aligns with GRI standards and TCFD recommendations, underlining our commitment

to transparency and accountability.

We have observed a growing shift towards more stringent ESG disclosure expectations in recent times. In response, we are concentrating on strengthening our governance practices, improving our risk management framework and providing effective oversight of sustainability matters. And we are pleased with the way we have managed to instill a culture

of accountability and responsibility across all levels of the Group, from the Board to the executive management and down to our operations.

We understand the importance of monitoring our carbon footprint, which is why we keep a close eye on our emissions. In 2023, we are pleased to report that the Group's total emissions (Scope 1 and Scope 2) decreased for the second consecutive year, with a 2% reduction year on year.

The people who work at the Group play a crucial role in our success and sustainable growth, and that is why taking care of them is our top priority. The Group

is committed to providing equal opportunities to its employees, supporting their professional development and ensuring a safe and positive working environment. We continue to invest in developing

an active learning culture across the Group, which resulted in over 50,000 training hours being logged across the Group's companies in 2023. We are also proud to report that our HR strategy has proved to be highly effective in reducing staff turnover

at the Group, which stood at 16% in 2023 (2022: 19%).

On a separate note, we should point out that even though our Group companies adhere to a stringent health and safety regime, we did see a rise in our LTIFR in 2023, which increased from 0 (zero)

to 0.90. The increase in our LTIFR was due to work- related injuries sustained by three of the Group's depot workers, but none of these involved fatalities or serious injury. It is worth noting that while disappointing, such occurrences are infrequent

at Globaltrans, a business with a strong track record in Health and Safety. However, they do serve

Report

Sustainability Report

Governance

Financial

Ongoing analysis of climate-related risks	Continued external recognition through
and opportunities	various ESG rankings

As a responsible business, we remain committed to our environmental initiatives and have continued our efforts to limit our impact on the environment. As you may know, the Group has always emphasised the importance of efficient resource use. In 2022, we introduced the Green Office Initiative enabling us to collect, analyse and report data on our waste management practices annually. It is important

to highlight that Globaltrans operates in a relatively "green" industry, and therefore, we do not generate significant amounts of waste. In fact, 99% of our waste is categorised as low-hazardous, and in circumstances where waste is unavoidable, we strive to reduce, recover, or reuse it.

as a reminder that we must be even more proactive in anticipating future risks.

As part of its commitment to making a positive impact on society, the Group continued to support vulnerable groups in 2023 through its long-standing partnerships with various charitable organisations.

In 2023, Globaltrans was again recognised by various external ESG agencies for its sustainability practices, as reflected in various rankings. This recognition indicates that we are heading in the right direction and motivates us to keep pushing ahead. Moving forward, we will keep striving to bring about positive change and contribute to a better future.

Statements

Additional Information

1 LTIFR is the number of lost time injuries multiplied by 1,000,000, divided by the employee total hours worked in the reporting period.

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Sustainability

69

Overview

Our ESG journey

The timeline shows some key highlights and the progress we have made to date.

Key ESG activities

Corporate governance

Employees

Strategic Report

2018

• Publication of our first Sustainability Report in accordance with GRI standards
• First time reporting Scope 1 emissions
• Privacy Policy introduced

2021

• ESG Committee formed
• ESG Policy adopted
• First time reporting Scope 2 emissions
• Publication of first climate-related report in accordance with TCFD recommendations
• Improvement in ESG ratings and ranking positions (Sustainalytics, Expert RA)

The objective of corporate governance is to support the Board in its efforts to provide effective, transparent and ethical oversight of the Group. Our governance framework is in line with the highest international standards supporting the Board to make decisions that are in the best long-term interests of the Group and its communities that will create value for all

its stakeholders.

Creating and sustaining a safe workplace is the key role

of a responsible employer. Our goal is to enable people

to work with dignity and respect, to provide opportunities

for growth and development and to create a just and rewarding work culture. We also ensure that we operate in full compliance with all applicable employment legislation.

Sustainability Report

2020

• Introduction of various social policies such

as Human Rights, Diversity and Inclusion,

and Freedom of Association Policies

• Environmental & Energy Policy adopted

• Suppliers' Code of Conduct introduced

• Introduction of Group-wide LTIFR measure

2022

• Health and Safety Policy adopted with LTIFR

maintained at 0.

• Strengthening of HR practices. Employee

engagement survey held

• Green Office Initiative introduced

• Further enhancement of climate-related

KEY

ESG

ACTIVITIES

Governance

Financial

of employee health & safety

• Website relaunched with a separate

sustainability section

disclosure: analysis of climate-related risks

and opportunities

2023

• First time reporting waste management data with 99% of waste categorised as low-hazardous
• Further external recognition through various ESG rankings

Environment

Employing more energy- efficient practices, reducing carbon emissions and promoting recycling are the means by which we work to minimise the adverse impact of Globaltrans' activities on the environment.

Communities

We are very conscious of the role

we play in supporting our communities. We do this through our employees' interactions, the opportunities our businesses create, and the economic value that our Company generates. We also actively contribute

to community initiatives and provide direct support to important community causes through charitable giving.

Statements

Additional Information

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• Globaltrans continuously strives to improve the way it controls, manages and mitigates the impact of non-financial risks, which include strategic, operational and compliance risks. This is not simply to satisfy regulatory obligations but also to meet the expectations of our stakeholders. For further information, please see the Risk Management section of this Annual Report.

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Sustainability

Contributing to the Sustainable Development Goals

This year's Sustainability Report also referenced the United Nations Sustainability Development Goals ("SDGs") framework, as Globaltrans directly or indirectly contributes to some of the UN's 17 SDGs. These goals provide a roadmap for societies and businesses around the world to end poverty, protect the planet and achieve a better future for everyone by 2030.

We focus on prioritising the wellbeing of our people

and cultivating a zero-harm culture

Stakeholder engagement

Effective stakeholder engagement is crucial for sustainable success and long-term value creation. Globaltrans recognises the significance of collaboration and actively promotes regular and transparent stakeholder engagement. Open and effective dialogue with our stakeholders allows us to be kept informed of their needs, expectations and concerns and enables us to receive valuable insights and create better outcomes for the business. It also helps us to identify and manage material issues as well as potential risks and opportunities.

We actively engage with our stakeholders throughout

Stakeholder engagement mechanisms

Stakeholder group	Mechanisms of stakeholder engagement	Outcomes in 2023
	•	Intranet	• Improvement in overall staff turnover
	•	Labour-management consultations	• Over 50,000 training hours provided
Employees	•	Staff surveys	to support the employee development
•	Corporate booklets, information boards	• Provision of social benefits and guarantees,
	• Regular, direct communication between	including medical insurance
		managers, teams and individuals	• Improvement in employee benefit packages
	•	Career development, training	• Improved colleague awareness of health
		and performance reviews	and safety along with other ESG issues

• Diversity and equality issues in focus - number of employees with disabilities increased to 30

• Enhancement of corporate culture by hosting various events

Overview

Strategic Report

Sustainability Report

We aspire to increase female representation at all levels within the Group

We focus on providing our employees with equal employment opportunities

the year using various channels and processes

to ensure accountability for our activities and deepen their understanding of our strategy, performance and initiatives.

In terms of our day-to-day operations, Globaltrans' stakeholders include employees, customers, investors, government and regulators, and local communities.

At the Group level, we regularly engage with investors, shareholders, credit rating agencies, financial institutions and the media. The type of engagement

Shareholders and investors

• Open, effective and transparent	• Information disclosure on a semi-annual basis
	communication	• Analyst and investor events and webcasts
•	Investor Relations website	• Non-deal roadshows with institutional
• Dedicated Investor Relations team	investors
•	Annual/Extraordinary General Meetings	• Series of investor meetings with retail
•	Corporate reporting, webcasts	investors
• Conference calls, investor events	• Publication of Annual Report
	and roadshows	and Sustainability Report along
•	Social media channels	with the climate-related disclosure

• Completion of numerous ESG questionnaires received from investors, financial institutions and rating agencies

• Interaction with credit rating agencies

Governance

We invest in learning and skill development of our staff

to provide a safe and inclusive work environment

We constantly search

for opportunities to optimise the use of resources and minimise waste

We are committed to minimising our carbon footprint

varies depending on the stakeholder group.

In 2023, despite the challenging macro environment, the Group's stakeholder interactions have been maintained at the same level as previous years.

We devoted considerable time and effort to address the concerns of our stakeholders and respond quickly to information requests. During the year, we maintained our use of digital communication for a large number of client engagements, investor meetings and events.

The corporate website is the main source

of information on the Company: news releases, results presentations, webcasts, current and historical financial information, market statistics, and other important data can be found there. We have a separate section on sustainability, in light of our increased commitment and reporting on this important issue.

	• Regular meetings, presentations, and formal	• Maintenance of robust portfolio of Service
		consultations	Contracts contributing 61% of Net Revenue
	• Customer analytics, customer evaluation	from Operation of Rolling Stock in 2023
Customers		system
• Industry conferences and forums
and business
•	Customer satisfaction surveys
partners
•	Transparent supply chain
	• Regular communication with regulators/	• Participation in industry associations
		policy makers on industry issues	including the Council of Railway Operators
Government,	• Industry and regulatory forums	and the Union of Transport Workers
regulators
and professional
authorities
	• Corporate philanthropy and charitable	• Assistance to socioeconomic development
		contributions	of our communities
Local communities	•	Community investment	• Regular contributions to aid charitable
		projects (In 2023 the Group supported
			the Life Line Charity Fund, Road of Mercy
			Charity foundation and other organisations)
	• Communication with media representatives	• Distribution of news and information
	• Transparent disclosure through various	announcements
Media		channels	• Access to results webcasts
• Dedicated media section on corporate	with the management
		website	• Responding to media queries
	• Dedicated media relations contacts	• Interviews with senior management,
	• Press conferences and exhibitions	ad hoc commentary on industry issues,
			and responding to journalists' questions

Financial Statements

Additional Information

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Sustainability

Overview

Ethics and behaviour

Compliance and integrity are critical assets

for any business, as they shape how a company

is perceived by stakeholders and can have a significant impact on its long-term success. Globaltrans recognises the importance of upholding our values and ethics and is committed to doing the right

thing and operating our business responsibly and with the highest levels of integrity. By acting with integrity, we gain the confidence and trust of our clients, investors and other stakeholders

and create a positive societal impact. Our commitment is demonstrated through the Group's adherence

to legal and regulatory requirements, continuous improvement of the governance framework and constant focus on risk management. Our values and principles are clearly communicated through a wide range of Group policies, which serve as the foundation of all our business activities. Each policy has been endorsed by the Board.

Our Code of Ethics and Conduct defines the corporate values, the basic principles of business conduct, and the ethical commitments that the Group

and its employees must put into practice on a daily basis. It describes the Group's principles with respect to confidential information, anti-bribery, conflicts

of interest and reporting concerns. The Code

is intended to help our employees become aware

of the responsibilities that each one of them has and to understand what is expected of them to ensure compliance with our policies and all relevant laws and regulations.

We do not tolerate any violations of the Code. All employees are required to read and fully understand the Code and sign an acknowledgement to this effect.

We strongly believe that sustainability is about cooperation. Our partners are an integral part

of our business, and how they behave also reflects

on us. Therefore, they must understand and commit to upholding the same ethical standards as we set for ourselves. Accordingly, in 2020 the Group formally adopted a Supplier Code of Conduct, based on the principles set out in the UN Global Compact, which describes what Globaltrans expects from its suppliers with regards to business ethics, human and labour rights, employee relations, health and safety and other related topics. By building

on our shared values, Globaltrans and its suppliers can create stronger and more successful businesses. We are glad that nearly all our business partners adhere to the highest ESG standards, comply with all the environmental and social regulations and provide voluntary disclosures on sustainability matters.

Globaltrans has adopted formal Group-wide policies that address human rights, freedom of association, data protection, diversity and inclusion, and supplier conduct. These policies are subject to ongoing review and monitoring to ensure their relevance and compliance with legal requirements. The Group requires all employees to acknowledge that they understand and accept the relevant policies. All policy documents are publicly available and can be viewed on the Company's website.

The fundamental rights and freedoms of individuals are an important concern for Globaltrans in its relations with employees and partners. We are committed

to maintaining strong human rights and labour practices not just in our own operations and business network, but within the broader community as well. We act

to create a fair, equal, healthy, safe, and engaging work environment for all employees. That also means a commitment to respecting human rights.

Our Human Rights Policy, introduced in 2020, sets out the minimum human rights standards that everyone who works for, and with, Globaltrans must meet. To ensure that we are continually progressing on this front, we regularly review our conduct, policies and training and incorporate any required changes or learnings into our operations. Our approach is consistent with international human rights standards such as the UN Guiding Principles on Business and Human Rights. Our commitment to human rights is also clearly stated in our Code

of Ethics and Conduct, Supplier Code of Conduct, and in our Diversity and Inclusion Policy.

A diverse and inclusive work environment is rewarding for our people and ultimately for our business.

By treating everyone with dignity and respect, by providing equal opportunities regardless

of ethnicity, gender, religious beliefs, nationality, age or any physical disability, we can create

an environment where people can be themselves

and excel in what they do. Our Diversity and Inclusion Policy details our commitment to creating an inclusive and welcoming environment. That commitment

is supported at the highest levels within the Group and is reflected in our approach to new appointments and Board membership.

Alongside our commitment to inclusivity is our respect for all applicable labour laws and regulations and our recognition that it is a fundamental right

of Globaltrans employees to form and join workers' organisations and to engage in collective bargaining1 This is enshrined in our Freedom of Association Policy, adopted in 2020, which reflects the Group's commitment to respecting employees' choices and maintaining a regular and constructive dialogue with them and their designated representatives.

Globaltrans has a zero-tolerance approach to bribery and corruption in all its forms. While this is detailed in our Anti-fraudPolicy, we have always endeavoured

to act ethically, professionally, fairly and with integrity in all our business activities and relationships.

We are very clear on the standards of conduct that all employees must adhere to, and we provide guidance on how to avoid and recognise unacceptable behaviour. Our approach is consistent with all applicable regulations and we have established rules and procedures to deal with any alleged violations. We ensure that each employee understands

the types of violations that can occur within their area of responsibility and closely monitor for any signs

of potential non-compliance.

To support this, the Group maintains a Whistleblowing Policy which encourages the investigation

and reporting of improper activities, including non- compliance with our Code of Ethics and Conduct, and helps fosters a culture based on honesty and good behaviour. We encourage employees

to speak up and report any concerns that they may have. We provide confidential, safe and secure mechanisms for anonymous reporting of suspected violations, as well as safeguards and support for those who report such breaches.

Senior management meets regularly to discuss, inter alia, anti-fraud and anti-corruption measures. During 2023, no instances of alleged fraud, bribery or corruption were reported within the Group.

We are committed to protecting the personal data and respecting the privacy of our stakeholders. We comply with the EU General Data Protection regulation ("GDPR") which was adopted in April 2016. Data privacy and security are of the utmost importance to the Group and we have a dedicated Privacy Policy that can be accessed on the Group's website.

Strategic Report

Sustainability Report

Governance

Financial Statements

Additional

Tolerance	Impartiality	Respect	Equality for all	Safety
Understanding	Acting objectively	Acknowledging people's	Creating opportunities	Complying
and respecting diverse	and professionally	abilities, qualities	and a working	with required rules
cultures and people		and achievements	environment that	to create a safe
with different views		and complying with all	excludes any form	and healthy
		applicable labour laws	of discrimination	workplace

1 In 2023, there were no employees covered by collective bargaining agreements.

Information

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Sustainability

Overview

Employees

1,802

Total headcount

29%

Share of women in the workforce

52,184

Total training hours

16%

Employee turnover rate

1%

Gender pay gap (GPG) at non-managerial level

It is our people that play the greatest role in moving us forward. Our progress primarily relies on the contribution of our people. Their skills, knowledge and dedication are fundamental to our long-term success and sustainable growth. As a responsible employer, we are committed

to prioritising the interests of our employees

and taking good care of them through solid human resources practices. This people-centred approach is in line with our culture and the fundamental values of the commitments, policies, and initiatives of the Group. To retain the best professionals

in our industry, Globaltrans must be a workplace where people choose to join and stay. Hence,

we are dedicated to establishing the right conditions in which employees can work effectively and advance their careers. We also strive to maintain a positive, inclusive, and inspiring work environment in which everyone feels valued, respected, and supported.

Globaltrans has always valued its employees

as individuals. We embrace diversity and inclusivity, recognising that each person brings unique perspectives and strengths to our team. We strive to ensure that all our employees have equal opportunities in their daily work. At Globaltrans, we offer fair remuneration that recognises individual performance. In doing so, we strive to encourage our people to realise their full potential by providing them with expertise, education and training opportunities.

We apply a zero-tolerance approach to all forms of discrimination, hostility, harassment or unprofessional behaviour.

We continue to prioritise our employees' wellbeing and safety and we are fully committed to fostering a culture of health and safety at both the individual and group levels. In recent years, we have made a stronger commitment to addressing health and safety issues and have developed robust policies and strategies to achieve this.

To maintain a positive and healthy work environment, clear communication, regular performance reviews, employee engagement surveys, and recognition programmes are essential. These initiatives help foster strong relationships between employees and employers, contributing to a positive work culture.

Our Company is committed to managing people issues effectively through a robust HR strategy and policies that define our philosophy and values. These policies cover areas such as human rights, health and safety, workplace relations, performance and development processes and non-discrimination.

Our core policies and guidance include:

• Anti-fraudPolicy
• Code of Ethics and Conduct
• Compensation and Benefits Policy
• Diversity and Inclusion Policy
• Freedom of Association Policy
• Health and Safety Policy
• Human Rights Policy
• Internal Code of Labour Conduct
• Regulations on Contractual Work
• Regulations on Business Trips
• Regulations on Protection of Personal Data of Employees

All these policies are intended to ensure compliance with the appropriate labour and social standards as well as all local laws and regulations relating

to compensation and benefits, recruitment, working practices, equal opportunities, diversity and discrimination. Should we become aware of any suspected violations or issues, we take immediate action to investigate and address them.

In 2023, we continued to improve our HR management procedures and activities at both the Group and subsidiary levels.

Workforce size and mix

In 2023, our average employee headcount decreased 1% year on year to 1,771 employees (2022: 1,781). Overall headcount, as at the year end, increased 2% compared to 2022 to 1,802 employees1 (2022: 1,768). BaltTransServis ("BTS") continued to be the largest employer within the Group as a result

of the continuing shift to employing in-house locomotive crews. Our workforce is predominantly male, with 71% male employees and 29% female employees. We have a young talent pool, with 64% of our employees aged between 30 and 50 years. Almost all our employees (99%) hold regular, full- time positions.

Strategic Report

Sustainability Report

Governance

Financial Statements

Additional Information

1 The difference between the headcount and the average headcount is due to different calculation techniques. The headcount is presented as at the end of 2023, while the average headcount is calculated by summing up the number of employees on the list in each month

of the reporting period and dividing this sum by the number of months.

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77

Sustainability

Headcount by Group subsidiaries in 2023 and 2022, at year-end

BaltTransServis (incl. its subsidiaries)

2023 869

2022 826

New Forwarding Company

2023 530

2022 533

Ural Wagonrepair Company

2023 346

2022 326

GTI Management

2023 46

2022 47

Other subsidiaries

2023 11

2022 36

Permanent contract in 2023,

at year-end, %

4060

Part time

29

71

Full time

Headcount by gender in 2023, at year-end

29%		71%
Women	Men

Headcount by age in 2023,

at year-end

25%		11%
>50 years	<30 years

64%

30-50

Temporary contract in 2023,

at year-end

27%		73%
Women	Men

Diversity

We strongly believe that embracing diversity

and inclusion within a company contributes to better business performance, decision-making processes and outcomes. At Globaltrans, we have always considered diversity as our strength and a competitive advantage and we strive to integrate it into our corporate culture and business strategy. Furthermore, prioritising diverse and unique perspectives, backgrounds

and experiences translates into higher levels

of employee satisfaction, retention, and performance. As a result, we can create a better work environment. Therefore, diversity and inclusion issues

are an important focus area for the Group's HR function.

At Globaltrans, we are committed to creating

an inclusive work culture where everyone is treated fairly and with respect, regardless of their gender, nationality, religion, sexual orientation, or physical ability. We value and celebrate our employees' individuality recognising their unique talents, contributions, and performance. Our commitment to equal opportunities and rights for all is at the core of our Company's philosophy.

We strive to eliminate all forms of discrimination

by offering equitable employment to all our employees. The Group's approach to diversity issues is set

out in the Diversity and Inclusion Policy adopted

in 2020 and exists at all levels of the Group, including the Board of Directors and all subcommittees

of the Board. The Diversity and Inclusion Policy covers all forms of diversity and inclusion, including without limitation aspects such as age, gender, education, professional background, ethnicity, sexual orientation, disability and socio-economic background. In line with the best practice and the Group's commitment to diversity, the Board does take into account DE&I aspects when making new Board appointments

and considering the composition of the Board.

During the reporting period no incidence of discrimination was reported.

Globaltrans is committed to upholding the principles of diversity, equal opportunities and anti-discrimination in all of our activities. This commitment applies

to recruitment, employee retention, promotions, compensation and benefits, career development and training, working conditions, and Board appointments.

The Group is actively working to promote greater fairness and equality within the organisation

by ensuring equal compensation opportunities for both men and women. By conducting a comprehensive analysis and publishing our gender pay gap data1,

we aim to increase transparency and understanding

of the challenges and opportunities for achieving gender equality in our workforce.

The gender pay gap relates to differences in average pay between men and women within an organisation; it does not compare the wages paid to men and women for doing identical or similar jobs (known as equal pay). In 2023, the average gender pay gap in our non-managerial workforce was 1%, indicating that the average hourly wage of male employees is higher than that of female employees. This gap reflects the fact that there are proportionally more men at the non- managerial level. Prior to that, for the previous three years, the Group has had a gender pay gap in favour

of women.

We will continue to work on closing our gender pay gap and increasing the female representation in the Company.

Overview

Strategic Report

Sustainability Report

Governance

Financial Statements

Additional

Women Men

Source: Globaltrans.

1 The gender pay gap at non-managerial level is the difference between the average hourly earnings of a company's male and female employees who are below management level. Calculating the mean gender pay gap involves adding the hourly rates for all male employees and then for all female employees in two groups and then dividing these totals by the number of male or female employees in each list. Then one needs to subtract the female hourly rate from the male hourly rate, divide the total by the male hourly rate, and multiply the figure by 100. This will give a percentage difference in pay.

Information

Source: Globaltrans.

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Sustainability

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Overview

We are committed to building a more diverse workforce and a more inclusive workplace where everyone feels accepted, respected and empowered. Historically, the freight rail transportation has been an industry where women are under- represented. By concentrating on attracting more women into the workforce, we are progressively and successfully addressing the gender imbalance within our Group. As at year-end 2023, women comprised 29% of our workforce. At the Board level, women comprised 14% of the Board of Directors (two Board members).

Our second priority for managing diversity is to ensure the inclusion of employees with disabilities.

We believe it is important not only to hire people with disabilities but also create an environment where they can easily work and build successful careers, regardless of any disabilities they may have.

There are currently 30 employees with disabilities (1.7% of the total workforce) whose daily contributions are helping the Group meet its business goals and achieve success.

Mean (average) gender pay gap, % at non-managerial level

2023			1
2022	-1

2021-3

2020 -5

Source: Globaltrans.

Diversity matrix in 2023 (at year-end) - Ethnicity

	Number	Percentage	Number of senior	Number	Percentage
	of Board	of Board	positions on the Board	in Executive	of Executive
	members	members	(Senior Independent	management	management
			Directors and Chair)
White British or other White	14	100	2	9	100
(including minority-white
groups)
Mixed / Multiple Ethnic	-	-	-	-	-
Groups
Asian / Asian British	-	-	-	-	-
Black / African / Caribbean /	-	-	-	-	-
Black British
Other ethnic group,	-	-	-	-	-
including Arab
Not specified / prefer not	-	-	-	-	-
to say

Strategic Report

Sustainability Report

Diversity matrix in 2023 (at year-end) - Gender

Number of Board members				Number in Executive management
2 (14%)		12 (86%)		1 (11%)	8 (89%)
Women	Men		Women	Men

Number of senior positions on the Board (Senior Independent Directors and Chair)

0	2
Women	Men

All the data in the tables was gathered voluntarily via self-reporting through questionnaires given to the relevant participants based on the criteria set out in the above tables. Although diversity, equality, and inclusion are important principles held throughout the Group, in 2023 we did not manage to meet the Board diversity targets in having at least 40% of the Board comprised of women, a director from a minority ethnic background or a woman

in the role of chair, chief executive, senior independent director or chief financial officer.

In this regard, Globaltrans recognises that freight rail transportation industry historically has been male dominated and that in the regions where we operate and work, there are more limited opportunities for inclusion of numerous ethnic groups. Nevertheless, we consider that positive progress has been made to date in achieving greater diversity at all levels of the Group (including the Board) and we will continue to address these issues in the future and seek further opportunities to improve our diversity and achieve these targets.

Governance

Financial Statements

Additional Information