Videndum : 2022 TCFD Report

Task Force on Climate-Related Financial Disclosures Report 2022

Contents

Overview

Introduction

About TCFD

About us

Statement from Stephen Bird, Group Chief Executive

Videndum's transition plan

2

Governance

9

3 Climate governance 10

4 The Board of Directors 11

5 How we govern 12

6 Executive responsibility 14

7 Managing climate change 15

Strategy

Climate resilient business strategy

Climate scenario analysis

Analysis outcome

Climate-related risks

Climate-related opportunities

16

Risk Management

17 18 19 20 25

Climate risk management

27

Metrics and Targets

28

Metrics and Targets

Reducing our greenhouse gas emissions

Scope 1 and 2 carbon emissions

Scope 3 carbon emissions

Carbon balance sheet

Carbon reduction targets

Additional environmental metrics and targets

Our progress Appendix

30

31 32 33 35 36 37 38 39 41

We recognise that climate change is a complex issue. The negative impact it is having - and will continue to have on all of society - is something that Videndum and our employees must work harder at addressing. We all have a part to play and the Videndum Board are firmly committed to ensuring that Videndum enhances its sustainability efforts.

Introduction

To represent our commitment to addressing climate change and improving our position as a sustainable business, we are proud to publish our second Task Force on Climate-related Financial Disclosures ("TCFD") Report. This report builds on our existing responsible business programme and first year of TCFD progress. In 2021, we determined climate change as a principal risk and uncertainty, of which more details can be found in our Annual Report on pages 44 to 49. Throughout 2022, we have enhanced many sustainable processes across the Group. We have conducted robust data collection processes throughout the business and improved our ESG disclosures to communicate our ambitions and progress in managing climate-related risks and opportunities accurately for our stakeholders.

We have worked closely with an independent, specialist consultancy to rigorously assess the impact of climate change on the business.

In 2022 we have:

• • Worked to align our Scope 3 reporting to our financial reporting period, calculating both our full 2021 and 2022 carbon balance sheets.

• • Developed our long-term and near-term carbon reduction targets, in line with the Science-Based Targets Initiative ("SBTi") best guidance. Our transition plan can be found on page 7.

• • Widened our climate scenarios analysis to consider the vulnerability of our supply chain and key supplier routes to climate change in our risk assessment process.

• • Established dedicated ESG coordinators and an ESG working group, which are responsible for the management of climate-related risks and opportunities.

About TCFD

We understand that climate change presents potential risks, which may impact the longevity and success of our business. Also, we are aware there are potential opportunities associated with climate change, which we may be able to capitalise on, to enhance our business model and position in the market. In 2022, Videndum reported in line with the FCA Listing Rule 9.8.6R by including climate-related financial disclosures consistent with the TCFD recommendations and recommended disclosures.

TCFD is a framework for assessing and managing the climate-related risks and opportunities to an organisations' operations, strategy and financial planning. The framework has four interconnected themes: Governance, Strategy, Risk Management, Metrics and Targets (as shown on the right) and 11 disclosure recommendations.

TCFD groups climate-related risks and opportunities into two significant categories: transition risks and opportunities, and physical risks and opportunities. Transition risks are associated with the decarbonisation of the global economy with four areas of consideration: policy and legal, technology, markets and reputation. Physical risks are associated with the physical impacts of climate change.

This TCFD Report provides transparency to our stakeholders about the development of our understanding of climate change and our approach to managing its impact on our business. We have followed the TCFD framework and structure to share our progress. In 2022, we continued to develop our TCFD reporting, as we further embedded the recommendations and latest guidance into our existing processes. We aim to continuously improve our TCFD reporting over time, as guidance evolves and our responsible business programme progresses.

We have an internal climate risk framework, details of which can be found in the Risk Management section on page 28. We identified ten risks and four opportunities, and have detailed their associated impacts in the Strategy section of this report on page 16. In addition, the Directors have assessed the financial and strategic impacts of climate change as a principal risk to ensure we are in the best position to deliver long-term growth and sustainable value. They determined it does not materially impact the Group's longer term viability assessment.

We have outlined the roles and responsibilities of the Board, its committees and executives throughout the Group for managing and mitigating climate-related risks and opportunities in the Governance section on page 11. We have also detailed our targets and the steps we will take to achieve these in the Metrics and Targets section on page 30.

About us

Videndum is a leading global provider of premium branded hardware products and soſtware solutions to the growing content creation market. Our customers include broadcasters, film studios, production and rental companies, photographers, independent content creators ("ICCs"), vloggers, influencers, gamers, professional sound crews and enterprises. We employ around 1,900 people in 11 different countries and are organised in three Divisions: Media Solutions, Production Solutions and Creative Solutions.

Videndum's purpose is to enable our customers to capture and share exceptional content. Our portfolio of market-leading brands encompasses a variety of technologies, designed and engineered to ensure that, whatever the conditions, the content creator has the best equipment to capture the moment. These technologies range from traditional mechanically engineered products, such as manual camera supports, to electronics and soſtware. We sell our products globally via multiple distribution channels, our own sales teams, and e-commerce via our own and third-party websites.

Our Divisions

Media Solutions

The Media Solutions Division designs, manufactures and distributes premium branded equipment for photographic/ video cameras and smartphones, and provides dedicated solutions to professional and amateur photographers, videographers, ICCs, vloggers/influencers, gamers, enterprises and professional sound crews. This includes camera supports and heads, smartphone accessories, lighting supports, LED lighting, lighting controls, motion control, audio capture and noise reduction equipment, camera bags and backgrounds.

Production Solutions

The Production Solutions Division designs, manufactures and distributes premium branded and technically advanced products and solutions for broadcasters, film and video production companies, ICCs and enterprises. Products include video heads, tripods, LED lighting, prompters, robotic camera systems and mobile power solutions. It also supplies premium services including equipment rental and technical solutions.

Creative Solutions

The Creative Solutions Division develops, manufactures and distributes premium branded products and solutions for film and video production companies, ICCs, gamers, enterprises and broadcasters. Products include wireless video transmission and lens control systems, monitors, camera accessories, live streaming and IP video devices, and soſtware applications.