IVS S A : Sustainability Report

LETTER TO THE STAKEHOLDERS	4
METHODOLOGICAL NOTE	9
THE IVS GROUP	13
We are citizens of the world of taste	15
The Group structure	16
Governance and risk management	18
Internal control system and business risk management	19
Whistleblowing procedure	20
Pillars of corporate governance	20
Stakeholder mapping	22
IVS Group materiality matrix	23

SUSTAINABILITY GOVERNANCE	25
2020 HIGHLIGHTS	28
Voluntary certifications	30
Sustainability for the IVS Group	31
The Group's efficiency initiatives	34
Upgrading of the neon lighting system with LED lighting	35
Investments in the adaptation of buildings to seismic risk	36
Plan for the installation of solar panels on logistics facility roofs	36
Computers and Monitors: energy efficiency environmental awareness	37
Environmental responsibility	38
Energy consumption	39
Group electricity consumption	40
Group energy consumption by fuel type	41
Greenhouse gas emissions	43
Waste production and recovery	45
Production of clean energy from coffee	50
Reforestation support	51
Cleaning of the Llobregat river in Barcelona	52
Hardware and Accessories	53
Responsible marketing	54
Responsibility towards people	58
The IVS Group and responsibility towards people	59
Employee health and safety	60
Our people	63
Turnover	68
Diversity and equal opportunities	70
Quality of company life and the Health Promoting Workplace project	71
Staff training	74
Customer Service	77
Customer Care	77
Call Center	78
Service and product customization	79
Technical assistance and restocking of vending machines	81
TEC Control Room and ARD Control Room	82
Responsible Solidarity	83
Commitment to the local area	88
Analysis of the perimeter and table of GRI indicators	90
Report of the external auditors	102

Letter to the Stakeholders

4 Letter to the stakeholders · Sustainability Report 2020

Dear Shareholders and

Stakeholders,

2020 was an unforgettable year, both at a global level and for our company. Following the first two months of a broadly stable trend consistent with forecasts, Italy, and therefore the rest of Europe and the world, was affected by the outbreak of the Covid-19 pandemic.

Hope and a desire not to be overly pessimistic may have led people to initially underestimate the severity of the impact and the duration of this objectively serious situation. Social and economic activities were all affected to varying degrees. The pandemic made it necessary to limit personal freedoms that are normally taken for granted and it altered both individual and collective lifestyles and behaviours on a very large scale. This obviously also affected IVS Group and all its employees and partners.

Our first concern, as required by each nation's authorities and governments, was to safeguard people's health and we made considerable efforts to adapt the procedures and organization of the entire group to the specific regulations put in place to tackle the health emergency.

At the same time, the company had to adapt its operations to the challenging new scenario, which spread, albeit with slightly different timelines, across all markets.

The pandemic caused the closure of many different sectors and total or very severe restrictions on the movement of people and their access to public places. This in turn led to a sharp drop in the number of hours worked or spent in the workplace and a consequent drop in "out-of-home" consumption, which is the main form of consumption linked to the vending sector.

The first months of spring 2020, during which a strict

and almost blanket lockdown was imposed, witnessed a particularly sharp drop in vending consumption both in Italy and in all European countries. A gradual and slight recovery began towards the middle of the second quarter and continued throughout the summer. However, a second wave of the pandemic, spread throughout Europe, caused a further business slowdown in the final part of the year. The announcement that vaccines were available in late 2020 raises hope for a gradual easing of health emergency conditions in 2021, but the effects on businesses will take longer to return to relatively normal conditions.

In this context, IVS Group has adapted its organizational structure to the lower levels of consumption and turnover, resorting to various forms of support for temporarily unemployed workers in accordance with the various national regulations, redefining all the main categories of operating costs and significantly reducing fixed investments, especially with regard to the acquisition of new vending machines.

This also required a considerable effort in terms of commercial logistics reorganization, always maintaining the essential goal of continuity and high- quality customer service; this goal was achieved and at the same time the group managed to preserve the conditions for economic stability thanks to the positive contribution of the operating results, even in this highly complex scenario, and by strengthening its financial and liquidity reserves. Thanks to substantial investments made in past years, the slowdown in 2020 has not had any significant effect on the group's technical assets and operating capacity.

The ability demonstrated during 2020 to be flexible and resilient, even in extremely difficult conditions, is the best and most objective premise for maintaining a strategy that remains focused on growth and development. The IVS Group's consolidated turnover, ,

Sustainability Report 2020 · Letter to the stakeholders 5