Materiality analysis

Anora updated its materiality analysis in 2025 as part of preparing for reporting under the EU’s Corporate Sustainability Reporting Directive (CSRD). The CSRD, which has applied to Anora from 2025 onwards, requires companies to disclose their environmental, social, and governance (ESG) impacts in line with the European Sustainability Reporting Standards (ESRS), starting from the 2024 financial year.

As part of this work, Anora conducted an updated double materiality assessment (DMA), which determines the topics to be disclosed. The assessment considers both the company’s impacts on society and the environment (inside-out perspective) and the financial risks and opportunities affecting the company (outside-in perspective). The 2025 assessment builds on the findings from the sustainability roadmap process completed in 2022 and the DMA completed in 2024. It also utilises internal expertise and data, desktop study, stakeholder interviews, external trend analysis and group assessment workshops. While the core set of material topics remained largely unchanged, the update refines how certain impacts, risks and opportunities (IROs) are defined and assessed.

Based on our double materiality assessment, eight material topics for Anora are identified:

• Climate change

• Water and marine resources

• Biodiversity and ecosystems

• Circular economy and resource use

• Own workforce

• Workers in the value chain

• Consumers and end-users

• Business conduct

For further information on the DMA and the impacts, risks, and opportunities related to the material topics, please see our Sustainability Statement 2025 published as part of Anora’s 2025 Annual Report.