Assets

Type	Time	Amount	Unit
ifrs-full:Assets	2025-03-31	9574000000	dkk
ifrs-full:Assets	2024-03-31	8668000000	dkk

Revenue

Type	Start date	End date	Amount	Unit
ifrs-full:Revenue	2024-04-01	2025-03-31	8379000000	dkk
ifrs-full:Revenue	2023-04-01	2024-03-31	6701000000	dkk

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   <mrv:SustainabilityReport contextRef="ctx-1" id="f1__s9__7__21-1" xml:lang="en">ESRS G1.GOV-1, 5aDuties and responsibilities of the Board of Directors At Matas Group, management duties and respon-sibilities are divided between the Company's Board of Directors and Executive Committee. No person is a member of both of these bodies, and no member of the Board of Directors has previously been a member of the Executive Committee. Matas Group has Rules of Procedure for the Board of Directors, which is reviewed and approved by the Board of Directors. The Board of Directors holds seven ordinary board meetings plus a strategy seminar each year and will further convene as required. In the 2024/25 financial year, seven board meetings and one strategy seminar were held. The Executive Committee is in charge of the day-to-day manage-ment, while the Board of Directors supervises the work of the Executive Committee and is respon-sible for the overall management and strategic direction. In relation hereto, the Board of Directors every year considers the Company’s overall strategy and purpose to ensure continuous value creation. The requirements for the Executive Committee’s timely, accurate and adequate reporting to the Board of Directors and for the communication between these two corporate bodies are laid down in the Rules of Procedure of the Executive Committee, which are reviewed and approved by the Board of Directors. ESRS 2.GOV-1Board of DirectorsUnit 2024/2521a Executive members Headcount 021a Non-executive members Headcount 721b Employee representation Headcount 021d Female board members % 4321d Male board members % 5721e Independent board members % 100ESRS 2.GOV-1, 20c; 2.GOV-1, 21c; ESRS G1.GOV-1, 5bThe board and committee meetings Board meetings  Strategy seminar  Audit Committee  Nomination Committee  Remuneration Committee  2024/25 total Lars Vinge Frederiksen (Chair)■ ■ ■ ■ ■ ■ ■ 100% ■ 100%  ■ ■ 100% ■ ■ ■ 100% 100%Mette Maix■ ■ ■ ■ ■ ■ ■ 100% ■ 100%  ■ ■ 100% ■ ■ ■ 100% 100%Espen Eldal■ ■ ■ ■ ■ ■ ■ 83% ■ 100%  86%Barbara Plucnar Jensen  ■ ■ ■ ■ ■ ■ ■ 83% ■ 100% ■ ■ ■ ■ ■ ■ ■ 100% 92%Henrik Taudorf Lorensen■ ■ ■ ■ ■ ■ ■ 100% ■ 100%  ■ ■ 100% ■ ■ ■ 100% 100%Kenneth Melchior■ ■ ■ ■ ■ ■ ■ 100% ■ 100% ■ ■ ■ ■ ■ ■ ■ 100%  100%2Birgitte Nielsen■ ■ ■ ■ ■ ■ ■ 100% ■ ■ ■ ■ ■ ■ ■ ■ 100%   100%Malou Aamund■ ■ ■ ■ ■ ■ ■ 100% ■ 100% ■ ■ ■ ■ ■ ■ ■ 100%  100%2024/25 meetings 7 96% 1 100% 7 100% 2 100% 3 100% 98%1  Joined the Board of Directors 19 June 20242 Resigned 19 June 2024■ Present■ AbsentBasis for preparationBP-1General basis for preparation of sustainability statementThis sustainability statement is prepared in accordance with the EU Corporate Sustainability Reporting Directive (CSRD) and the associated European Sustainability Reporting Standards (ESRS). The sustainability statement has been prepared on a consolidated basis for Matas A/S and its subsidiaries (Matas Group). The scope of consoli-dation is the same as for the financial statements and follows the financial year of 1 April 2024 – 31 March 2025.Matas Group’s sustainability statement covers the full upstream and downstream value chains, as described, and visualised in section SBM-1. No information in this sustainability statement has been omitted due to impending developments or matters in course of negotiation, classified or sensitive information, or information on intellec-tual property, know-how or results of innovation. BP-2Disclosures in relation to specific circumstancesTime horizonsMatas Group follows the time horizons as guided by the ESRS to best reflect our business model and context. The short term is defined as 1 year and follows the reporting period. The medium term is defined as 2 to 5 years. The long term is defined as more than 5 years. Value chain estimationTo report on all required metrics, some upstream and downstream value chain data has been estimated using indirect sources. We carefully identify and estimate greenhouse gas (GHG) emissions across all scopes, using direct sources whenever possible. For Scopes 1 and 2, we mostly use direct measurements of consumption to esti-mate emissions, except for a small portion (less than 5%) where we rely on indirect data. Over 90% of our emissions come from Scope 3, mainly through purchased goods and services. These emissions are estimated using indirect methods based on our total spending and average emissions factors. While our spending data is accurate, the use of average factors introduces some uncertainty in these estimates. However, we have not been able to locate any general emission factors suitable to represent the emissions tied to the products and goods we procure from the Group's suppliers. Following this implication, our approach to validate our suppliers emissions are detailed in the section 'Sources of estimation and outcome uncertainty'. We are continuously working to improve the accuracy of our data by focusing on the most significant spending categories and obtaining better direct data from suppliers. This is an ongoing dialogue we have with our suppliers which we expect will continue in the coming financial year.  Sources of estimation and outcome uncertaintyGreenhouse Gas accountingAround 93% of Matas Group’s total GHG emis-sions are estimated based on spend, which are coupled with general emissions factors, suited for each respective reported scope and underlying categories. When we calculate the emissions stemming from Category 1: Purchased goods and services, we use both general emissions factors to reflect specific purchased goods and services categories, however, as there are no general publicly available emission factor for assessing emissions for beauty products, we have instead compiled an emission factor based on our largest suppliers’ carbon accounts. As we collect this data from their public reports, the estimate comes with a degree of uncertainty, regarding a total of 44% of Matas Group’s total GHG emis-sions for purchases of goods for sale.   Waste impactFor our waste impact, we use estimates to assess the full waste impact of Matas Group, as supplier specific data is solely available for the Group’s warehouse locations and approx. 50% of the Matas stores. The estimate is based on the waste amounts and composition of Matas stores only, calculating a waste impacts per square metre of Matas stores, based on the assumption that locations’ size is a good indication of how many products a store can hold and, consequently, how much waste is generated. As we do not have access to direct waste data on the rest of Matas stores and all of KICKS stores, we have used the waste impact estimate to complete the Group’s consolidated waste impact. The validity of the estimation is perceived to be high as Matas and KICKS stores share most of the same suppliers and therefore somewhat similar in their product portfolio. However, this results in some degree of uncertainty of the full waste impact for the Group.Disclosures stemming from other legislation or generally accepted sustainability reporting pronouncementsIn this sustainability statement, Matas Group reports on section 99d of the Danish Financial Statements Act. See S4-1, Data Ethics Policy. Incorporation by referenceThe index below summarises whenever information is incorporated by reference.ESRS DR Paragraph Disclosures Section in Annual PageReportGOV-1 ESRS 2, 20 c The expertise and skills of its administra-Corporate Governance 40tive, management and supervisory bodies section, Board on sustainability matters or access to such competencies table.expertise and skills.GOV-1 ESRS 2, 21 a Number of executive members Corporate 38Governance, Board of Director's tableGOV-1 ESRS 2, 21 a Number of non-executive members Corporate 38Governance, Board of Director's tableGOV-1 ESRS 2, 21 b Information about representation of Corporate 38employees and other workersGovernance, Board of Director's tableGOV-1 ESRS 2, 21 c Information about member's experience Corporate Governance 40relevant to sectors, products and geographic section, Board locations of undertakingcompetencies table.GOV-1 ESRS 2, 21 d Percentage of members of administrative, Corporate 38management and supervisory bodies by Governance, Board of gender and other aspects of diversityDirector's tableGOV-1 ESRS 2, 21 e Percentage of independent board members Corporate 38Governance, Board of Director's tableS1-16 ESRS S1, 97b Annual total remuneration ratio Remuneration Report 22G1.GOV-1 ESRS G1, 5a The of role of administrative, management Corporate 38and supervisory bodies related to business Governance, Duties conductand responsibilities of the Board of DirectorsG1.GOV-1 ESRS G1, 5b The expertise of administrative, management Corporate Governance 40and supervisory bodies on business conduct section, Board matterscompetencies table.Our sustainability statement is covered by limited assurance performed by our auditor (PwC).GovernanceIn the financial year 2024/25 we developed a new ESG strategy, based on our Double Materiality Assessment process, and introduced a new ESG governance structure to embed both strategy implementation and Impact, Risk and Opportunities (IRO) management in our organisation. It is our ambition that this new structure will ensure cross-organisational accountability and responsible business practices. We believe that this change to how we operationalise ESG will create a solid foundation for long-term value creation and business resilience.GOV-1The role of the administrative, management and supervisory bodiesMatas Group’s Board of Directors and Executive Committee, constituted by the Group CEO and Group CFO, endorse the ESG strategy and are the overall responsible bodies for our ESG progress. The Executive Management Team reviews ESG strategy progress and decides on strategic prior-itisation and resource allocation, and our People and ESG Steering Committee monitors ESG strategy implementation and regulatory compli-ance as well as discuss roadblocks and solutions.    Matas Group's Board Committees function as the supervisory bodies. For ESG matters, Matas Group's Audit Committee oversees the Group’s ESG reporting, the Nomination Committee supports the Board of Directors in assuring that appropriate skills and expertise are avail-able to oversee the sustainability matters in the governing bodies, and the Remuneration Committee determines the Group's remuneration structure and linked ESG targets as well as evalu-ates the target achievement. Following our new Group ESG strategy, we have updated our ESG governance structure to reflect our new strategic ESG ambition and to ensure continuous progress on ESG strategy implemen-tation. We have, in this financial year, adopted a new ESG operating model which now consists of a centralised ESG PMO Team (ESG Project Management Office Team) collaborating with a cross-functional ESG Centre of Excellence, with business unit capabilities to drive execution and spread ESG knowledge internally. This way, we ensure a balanced control of our ESG efforts while leveraging knowledge and capacity in the entire organisation and anchoring our efforts throughout all business units. The implementation of the ESG strategy and the monitoring of the Group's impacts, risks and opportunities (IROs) are managed by the ESG PMO Team. The surrounding ESG Centre of Excel-lence is responsible for implementing the ESG strategy on business function level to execute on the Group’s ESG strategy targets. Progress on ESG strategy implementation and targets is reported by the ESG PMO Team to the People and ESG Steering Committee, which is overseeing the progress. They will bring any challenges and roadblocks to the attention of the Executive Management Team, ensuring both top-down and bottom-up priority. The oversight of Matas Group’s material IROs happens at all administrative, management and supervisory levels of the organisation with different levels of engagement. The Board of Directors and the Executive Committee annu-ally review any changes to our IROs and DMA. The Executive Committee’s timely, accurate and adequate reporting of material sustainability matters and our ESG progress to the Board of Directors follow the requirements laid down in the Rules of Procedure of the Executive Committee, which are reviewed and approved by the Board of Directors. The Executive Management Team has oversight of the Group’s IROs as part of their annual review of ESG strategy priorities and targets. The Audit Committee will be informed of any changes to our IROs as part of their role in the Group’s ESG reporting. Similarly, the People &amp; ESG Steering Committee will be informed of any changes through the reporting provided by the ESG PMO Team, relating to ESG strategy and regulatory compliance.  For general information on the composition, diversity, sustainability-related skills, and exper-tise of the governing bodies, see Corporate Governance section, page 64-65 .GOV-2Information provided to and sustainability matters addressed by the undertaking’s administrative, management and supervisory bodiesDuring the financial year 2024/25, the focus of our Executive Management Team, Executive Committee and Board of Directors has primarily been centred around becoming ready for CSRD compliance and the development and implemen-tation of the new ESG strategy to ensure material IROs and possible associated trade-offs will be sufficiently considered in the decision-making processes and overall strategy. As part of our DMA process, we identified all our material IROs disclosed in this year's reporting which has been reviewed and approved by our Board of Directors, Audit Committee and Executive Committee. For the full list of our IROs, see SBM-3, page 63-64 .Subject matter experts (SMEs) in the organisa-tion qualify the identification of IROs and have responsibility of these should they change during the year. The ESG PMO Team has overall oversight of the IROs, uncovers fluctuations to these, and will inform the governing bodies of any changes and potential trade-offs associated with the IROs and sustainability matters on an ongoing basis. In our DMA process, we have assessed our mate-rial IROs and we have kickstarted the work on addressing these with our updated Group ESG strategy. As the identification of our IROs has formed the basis of our new ESG strategy focus, the implementation of the strategy and targets will provide insights into the effectiveness of existing policies, actions and targets set to miti-gate these. As such, all levels of the administra-tive, management and supervisory bodies who have oversight of our IROs, as described in the previous section, are continuously involved in the process of managing our material sustainability matters and IROs when they are informed of or oversee the progress of our new ESG strategy implementation. In addition to this, they are annu-ally informed about any changes to the materiality of our DMA. The Board of Directors annually reviews existing policies to identify their effectiveness and completeness.    GOV-3Integration of sustainability-related performance in incentive schemesTo strengthen ESG responsibility and ensure accountability, the Executive Committee and all employees with bonus agreements have ESG performance targets integrated in their short-term incentive programmes. 10% of their bonus targets are linked to ESG performance targets such as Matas Group’s ESG ratings, relating to carbon emission reductions, employee turnover and anti-corruption, etc. This is described in our Remu-neration Policy.Our Remuneration Committee prepares the Remu-neration Policy, reviews it every forth year, and presents it to the Board of Directors. The Remuner-ation Policy describes our remuneration guidelines, and the remuneration paid to the Board of Direc-tors and the Executive Committee is disclosed in Matas Group’s annual Remuneration Report. The Policy is approved at Matas A/S's Annual General Meeting. GOV-4Statement on due diligenceBelow table provides an overview of Matas Group’s due diligence process as reflected in our sustainability statement.Core elements of due diligence Paragraphs in the sustainability statement Pagea)  Embedding due diligence GOV-2 Information provided to and sustainability matters addressed by the undertaking’s administrative, management and supervisory bodies 54in governance, strategy and GOV-3 Integration of sustainability-related performance in incentive schemes 54business modelSBM-3 Material impacts, risks and opportunities and their interaction with strategy and business model 62b)  Engaging with affected SBM-2 Interests and views of stakeholders 6stakeholders in all key steps IRO-1 Description of the process to identify and assess material impacts, risks and opportunities 66of the due diligenceS1-2 Engagement with own workforce 108S2-2 Processes for engaging with value chain workers 118S4-2 Processes for engaging with consumers and end-users 123c)  Identifying and assessing IRO-1 Description of the process to identify and assess material impacts, risks and opportunities (E1 IRO-1, E2 IRO-1, E3 IRO-1, E4 IRO-1, E5 IRO-1, 66adverse impactsS1 IRO-1, S2 IRO-1, S4 IRO-1, G1 IRO-1)d)  Taking actions to address E1-3 Actions and reources related to climate change 80those adverse impactsS1-3 Actions and resources related to own workforce 109S2-3 Processes to remediate negative impacts for value chain workers 118S2.MDR-a Actions in relation to workers in the value chain 119S4-4 Actions in relation to consumers and end-users 123e)  Tracking the effectiveness S2-3 Processes to remediate negative impacts for value chain workers 118of these efforts and S4-3 Process for remediation of negative impacts on consumers and end-users 122communicatingGOV-5Risk management and internal controls over sustainability reportingThe Board of Directors sets the general frame-work for internal controls and risk management in Matas Group which also covers the sustainability statement. For further information on our general risk management and internal controls processes, not required by the disclosures of this Sustain-ability Statement, see the Risk management section page 34 .As part of the ongoing work to ensure that Matas Group’s ESG strategy and targets are imple-mented and realised, all levels of the ESG Centre of Excellence are informed about sustainability matters in relation to the Group. This means that sustainability matters are addressed and considered in the business functions that either effect or are affected by identified sustainability matters. Sustainability matters with negative impacts and/or financial risks are furthermore reported bi-annually in our risk management system, where the risks and impacts are identified and described, as well as the proposed mitigation actions to manage said risks and impacts. As per our accounting manuals, we identify, report, address and oversee risks associated with data collection as a basis for future improve-ments to our reporting. Main risks identified for the financial year 2024/25 are related to new data requirements, as well as new reporting structures and data management and methodologies, and lacking value chain data.  The prioritisation of the risks is to first ensure the highest possible data quality from own operations, and subsequently the upstream and downstream value chain tiers. A plan for year-on-year improvements on data sets and quality has been initiated according to which we will engage in close dialogue with our suppliers to ensure a common understanding of data needs and quality. The ESG PMO Team leads the development of the Group’s sustainability reporting, through consistent request for information to all internal data owners and suppliers. The data owners within the business units collect the required sustainability data and secure the data flow to the ESG PMO Team, who controls and enters the data.  as part of the control, we check the data quality to ensure year-on-year improvements of our sustainability reporting. Sustainability reporting falls under the oversight of the Group CFO who is briefed regularly on actions and advancements concerning our sustainability reporting processes, metrics and targets. Furthermore, CSRD reporting is on the agenda at several Audit Committee meetings throughout the year to ensure oversight of progress and changes. StrategySBM-1Strategy, business model and value chainAs the leading beauty and wellbeing retailer in the Nordics, with a turnover of DKK 8,379 million we employ 6,243 skilled colleagues and have sales channels including physical stores and online channels across Denmark, Norway, Sweden, and Finland. We hold several beauty and health retailers in our company portfolio, which includes well-known Nordic names like KICKS and Matas, as well as popular in-house products such as Matas Striber, Matas Natur, BeautyAct, Atelier Rouge, and Matas Group value chain Our value chain covers the processes all the way from growing raw materials used as ingredients in the products we sell, the manufacturing and distribution of the products to our operations, down to consumer usage and the disposal and waste management of sold goods. Our own oper-ations cover the retail of beauty and wellbeing products in our stores and e-commerce channels as well as our daily operations in our offices and warehouses. At Matas Group, we do not produce or manufacture any products ourselves, but we engage in a close collaboration with our key suppliers and partners for our in-house brands as well as our portfolio brands in our assortment. For more details on our value chain and our identified sustainability IRO, as well as where in the value chain they arise, please see section SBM-3: Material impacts, risks and opportunities and their interaction with strategy and business model.  Our business modelAcross the Group, we provide our customers with a wide assortment of beauty, personal care, and health and wellbeing products on the Nordic market. This broad product range creates a unique one-stop retail value proposition for our customers in the shape of four categories: High-end Beauty, Mass Beauty, Health and Wellbeing, and Other. Through our loyalty membership clubs, we are connecting more than 6 million customers to the brands and products we sell, while being the top-of-mind retail brand with high customer satisfaction.Strongest supplier relations•  Decade long supplier relationships•  Best terms and access to brands, news and exclusivesLoved in-house brands•  High-margin in-house brands in mutiple categories•  Selected distribution/authorised retailer Beauty and wellbeing experts•  +6000 colleagues and beauty professionalsLoyal customers•   +6 million loyalty members Activities in own operationsInBest-in-class  supply chainNew centralised and highly automated warehousesLow fulfillment costDigital community and awarenessOwn media suite with national presenceLower marketing cost ratioPowerfull omni-channel presenceLeading store network of +500 stores and e-commerce sitesCost advantages in customer  aquisition and fulfillmentOur people•  Inclusive and engaging work environment with career opportunities for allOur customers•  Proximity, personal guidance, and expertise, creating value beyond productOur shareholders•  Increased shareholder value Matas Group ESG strategy In the financial year 2023/24, following the acqui-sition and integration of KICKS, we introduced a new strategy “Win the Nordics” which reflected the ambitions of a consolidated Matas Group. The strategy commitment is to become #1 in all markets, all channels, and all categories by deliv-ering a proven “one-stop” offering and concept across a fuelled omni-channel customer experi-ence, supported by upgraded stores and endless digital aisles. The commitment also spans into creating a shared corporate culture across the Group and realising the operational efficiencies a truly integrated Group can deliver. For more information about Matas Group and our general strategy, please see the Strategy execution section.The financial year 2024/25 has been the year where we consolidated the Group’s ESG ambition as well. Being responsible and contributing to a more sustainable future lies deep within Matas Group. This is embedded in our purpose, and with our new ESG strategy, we have created a founda-tion for how to execute on and achieve our ambi-tions. The ESG strategy has been based on the results of our DMA and sets out key milestones and action plans for how we manage to reduce our emissions, care for our colleagues, and cater to our customers.Company-wide ESG commitmentNever compromise on safetyAt our trusted destinations, we want to offer expert guidance and complete ingredient transparency, empowering customers with high-quality information about every product we sell. Read more about our identified IROs and targets related to consumers and end-users Reducing retail impactGuided by science, we want to reduce the impact from our own operations and collaborate across our value chain to reduce the impact of the beauty and wellbeing retail. Read more about our identified IROs and targets related to climate change Pioneering mental healthWe want to be the vocal champion of customer and colleague wellbeing, by creating a healthy vision of beauty and an attractive workplace for people to develop and grow. Read more about our identified IROs and targets related to our own workforce The ESG strategy is foundational for our business strategy and responsibility is undertaken by the whole organisation. Our ESG strategy works to mitigate the material impacts, risks and opportu-nities (IROs) related to the sustainability matters of Climate change, Working conditions in own operations, and Product transparency and safety through three strategic lighthouses: 1   Never compromise on safety. 2   Reducing retail impact. 3   Pioneer mental health. We have chosen to focus on these sustainability matters, as they are most closely linked to the core of our business and as such, we believe this is where we can create the biggest contribution. Never compromise on safetyAmbitionWe want consumers to recognise us as a preferred destination with safe products, trusted advice and ingredient transparency.Product transparency100% In-house brands (in scope) have quality information on third party ingredients platforms by 2027/28.Supplier code of conduct100% of suppliers committed to Supplier Code of Conduct by 2027/28.Reducing retail impactAmbitionGuided by our science-based targets we will act to limit our climate impact and support the achievement of emission reductions in our value chain.Scope 1 and Scope 2absolute target42%  emission reduction in Scope 1 and Scope 2 emissions by 2030/31.Scope 3 supplier target67% of Scope 3 emissions will be covered by suppliers having SBTi aligned reduction plans by 2029/30.Pioneering mental healthAmbitionWe want to be the vocal champion of customer and colleague wellbeing, with a healthy vision of beautiful lives.Employee engagement70 Employee engagement survey score in mental health assess-ment by 2027/28.Mental health training satisfaction50 NPS on average a yearly Net Promoter Score on mental health training programmes by 2027/28.Responsible outlookOur size and leader position in the beauty and wellbeing space call for us to work tirelessly to address our main challenges with solutions and projects that align our business objectives with our purpose and ESG ambitions. As we employ many people across different Nordic countries, we are very aware of our responsibility to ensure a sense of belonging and the best working envi-ronment as possible for every single colleague. As we continue to expand our assortment, we expect to see increases in some of our impacts on people and planet. However, we are carefully monitoring how we can use our position as a Nordic leader to reduce the negative and increase the positive impacts through close engagement with our suppliers and employees. In the coming year, we will continue to spearhead our initiatives to act responsibly for beautiful lives by ensuring our consumers can trust that our products and advice do no harm, by supporting the physical and mental wellbeing of our employees and customers, and by making choices that lift our share in the green transition. We have clear mile-stone plans that define the journey step-by-step over the next year with clear accountability in the business.Interests and views of stakeholdersSBM-2Interests and views of stakeholdersEngagement with relevant stakeholders is funda-mental for our ESG progress as this is a strong tool to gain direct insights and perspectives on how we best manage our efforts. We believe considering the needs and desires of our stake-holders as an integrated part of the way we conduct business will optimise the overall perfor-mance of the Group.For all engagements with stakeholders, we listen to their interests and perspectives and strive to act upon the most significant and urgent outcomes. Each engagement is organised to cater for the specific stakeholder with the outcome being assessed internally and considered when improving our business model and strategy. This has, for example, led to our ESG strategy constituting of key ambitions for our top three stakeholders: The trust of our consumers, the confidence of our investors, and the care of our colleagues. Engagement with key stakeholdersWe continuously engage with our colleagues through job satisfaction and wellbeing surveys, worker representatives, performance and development dialogues, and social events. The outcome of the engagements informs us of the current mental health and wellbeing of our employees with the results leading to relevant actions and initiatives. Subject matter experts (SMEs) are invited to share their knowledge and perspectives in our daily work, for example when updating our DMA, to identify whether business units in Matas Group should continue or refine their approaches. SMEs are also crucial in reflecting the views and interest of external stakeholders, where their experience with external stakeholder engagement has been aplied as proxies for our first year of CSRD reporting. An example of this is the Group Customer Success Teams that has daily engage-ment with the Group's customers, and as such, can reflect their interest and views.  We are committed to a constructive dialogue with investors/ESG raters and provide a high level of transparency when communicating with share-holders to enable them to exercise the highest possible level of active ownership.Consumers are engaged via our customer service channels where they can communicate inquires, feedback and complaints. Club Matas and KICKS Club further provide a platform for us to gain insights to the sentiment and perspectives of our consumers. We have strong and longstanding supplier rela-tionships and engage with partners/suppliers in our daily work. Engagement with our suppliers helps us form stronger and more efficient collab-orations which makes us advance the realisa-tion of our ESG ambitions. Our Supplier Code of Conduct establishes the foundation for how we do business with suppliers and partners. For regulators/authorities, peers, local communi-ties, media, press, and NGOs, we actively monitor their interests and views and initiate direct engagements when needed.The outcome of our stakeholder engagement is presented to the Executive Management Team, the Executive Committee, the Audit Committee and the Board of Directors as part of the general ESG governance process. Our impacts, risks and opportunitiesSBM-3Material impacts, risks and opportunities and their interaction with strategy and business modelMatas Group’s material impacts, risks and oppor-tunities (IROs), as identified through our Double Materiality Assessment (DMA) process, are closely connected to our core business activities of being a Nordic leader in the beauty and well-ness retail. Not all of our IROs are covered by ESRS disclo-sure requirements, as we specifically for pollution and water disclosures have identified impacts in our value chain, and, as per guidance of the ESRS’s only require reported metrics for our own operations, not value chain data, for these reporting requirements. However, for our disclo-sures on E1, we have used value chain data. In addition, we are following the phasing-in provi-sions, meaning that we are descoping data points that are subject to these requirements. For additional entity-specific data points, we have included data points in E1, S1 and S4 to reflect the yearly reporting on the Group's ESG targets.  The IROs that fall within the sustainability matters of Climate change, Working conditions in own operations, and Product transparency and safety, are addressed by our new Group ESG strategy, as we assessed these to be the IROs where Matas Group has the biggest impact and financial materiality. Our additional IROs are nevertheless still material for the Group, and equally important for the resilience of the business, but these are more concentrated on specific parts of the value chain.  See page 63-64 for further identification of our IROs. EnvironmentWe have identified impacts that relate to GHG emissions from energy consumption in our own operations and our value chain, the production of consumer goods and the transportation of products in the upstream and downstream value chains. The other material environmental IROs relate to the upstream value chain in terms of growing and extracting raw ingredients which can affect biodiversity and material scarcity, chemicals and water used in product formulations, and the resources used in product packaging. In our own operations, we have IROs connected to resources used for packaging and distribution, and the waste this is generating. In the consumption and disposal phase of our downstream value chain, product chemicals are discharged, and it is inevitable that our products sold currently create waste when product packaging is disposed after usage. The process to identify our material environ-mental IROs and further detailed descriptions of these can be found at E1 page 78 , E2 page 95 , E3page97, E4 page 99  and E5 page 101 SocialIn our upstream value chain, we have IROs linked to the working conditions of the workers who take part in producing and manufacturing the prod-ucts made by our suppliers. The impact identified in Tier 3 of our value chain is assessed with a degree of uncertainty, as we do not hold detailed information about our suppliers' sub-suppliers and sun-sub-suppliers. In our own operations, and as an employer, we have a great level of responsibility for impacts on our employees’ health and wellbeing, and we have identified related risks and opportunities arising from how well we succeed in upholding our promise of providing the best possible working environment. We have also identified material IROs downstream in relation to product information as it is essential that consumers can trust the available information that describes the products we sell as well as the advice that we give. Furthermore we have identi-fied impacts in relations to non-discrimination of our consumers and impacts and risks associated with the data privacy and security of consumer data in our customer loyalty clubs. GovernanceOur material governance IROs relate to our management of relationship with suppliers and the corporate culture in our own operations. These are both topics where we have an impact on people through the way we operate and act as a business. The identified IROs are further described under each topic in the Environment, Social and Govern-ance sections. Financial effects and resilience of business model and strategyWe proactively use the methodologies and structures provided by the CSRD to assess the resilience of our business and strategy. The CSRD prescribes a way for us to identify, approach and mitigate negative effects which we use as a value creator across all our activities. Our ESG strategy, as presented in SBM-1, is based on a qualitative analysis of the resilience of our business and is designed to address and act upon our identified material IROs. Our material risks and opportunities are not currently impacting our business finan-cially, but we acknowledge that if left unmanaged, this could change. We recognise that it requires further analysis to understand the full scope of these potential financial effects, and in the coming years, we will work towards becoming more knowl-edgeable of these to ensure a continuous future-proofing of our business. Material impacts, risks and opportunities and their interaction with our strategy and business modelUpstream Own operations DownstreamE4 E2 E3 E1 E1 E1 E5 E2 E5TIER 3TIER 2TIER 1OWN OPERATIONTRANSPORTATIONCONSUMERS &amp; DISPOSALRAW MATERIALSMANUFACTURINGSUPPLIERSOmnichannel retail, with Downstream transportation, END-USERSThe disposal and management Raw materials, palm oil, Manufacturing of products Direct suppliers, external and e-commerce sites and webshop logistics Consumers and users of the of the sold product and goods.conflicting mineralsand goods, water usage, in-house brands, upstream physical stores and Group's sold products and workers in the value chain distribution of productswarehouse locations.goodsESRS Topic Category Description Where in the VC Potential/actual Time horisons PageE1 Climate change Negative impact 1 GHG emissions from transportation of goods in upstream and downstream value chains. VC, OO Actual■■■■■■80Negative impact 2 Energy consumption of suppliers, stores, warehouses, and offices.  VC, OO Actual■■■■■■80E2 Pollution Negative impact 3 Product chemicals polluting water during manufacturing and in the use phase .  VC Potential■■■■■■96Negative impact 4 Potentially harmful chemicals and ingredients absorbed by human bodies during use phase .  VC Potential■■■■■■96Negative impact 5 Products may contain microplastics that can pollute water during production and in the use phase.   VC Potential■■■■■■96E3 Water and marine Negative impact 6 Significant amounts of water used for product manufacturing in the value chain VC Actual■■■■■■97ressourcesFinancial risk 7 Water scarcity in the value chain VC Potential■■■■■■97E4 Biodiversity and Negative impact 8 Biodiversity impacts from extraction of raw materials VC Actual■■■■■■100ecosystemsE5  Ressource use and  Negative impact 9 Resource use for products and product packaging  VC, OO Actual■■■■■■101circular economyNegative impact 10 Product packaging waste  VC Actual■■■■■■101Negative impact 11 Waste from own operations OO Actual■■■■■■101Short term  ■■■■■■ Medium term  ■■■■■■ Long term  ■■■■■■VC: Value chain  OO: Own operationOwn operations DownstreamUpstreamS2 S2 S2 G1 S1 S4TIER 3TIER 2TIER 1OWN OPERATIONTRANSPORTATIONCONSUMERS &amp; DISPOSALRAW MATERIALSMANUFACTURINGSUPPLIERSOmnichannel retail, with Downstream transportation, END-USERSThe disposal and management Raw materials, palm oil, Manufacturing of products Direct suppliers, external and e-commerce sites and webshop logistics Consumers and users of the of the sold product and goods.conflicting mineralsand goods, water usage, in-house brands, upstream physical stores and Group's sold products and workers in the value chain distribution of productswarehouse locations.goodsESRS Topic Category Description Where in the VC Potential/actual Time horisons PageS1  Own workforce Negative impact 12 Negative effect of poor working conditions OO Potential■■■■■■107Financial risk 13 High employee turnover and reputational  OO Potential■■■■■■107Positive impact 14 Positive effect of good working conditions OO Potential■■■■■■107Opportunity 15 Maintaining and attracting employees and strengthening corporate brand image OO, VC Potential■■■■■■107Negative impact 16 Unsuccessful policies for diversity and equal treatment and opportunities for all employees  OO Potential■■■■■■107S2 Workers in the value chain Negative impact 17 Poor working conditions in the upstream value chain VC Actual■■■■■■117Negative impact 18 Work-related rights in the raw materials extraction phase VC Actual■■■■■■117S4 Consumers and end-users Positive impact 19 Providing quality product information and guidance for customers through Matas Group  OO, VC Potential■■■■■■120communications channelsNegative impact 20 Misinformation of products impacting the health and safety of customers OO, VC Potential■■■■■■120Financial risk 21 Misinformation of products affecting Matas Group's reputation as a trusted destination OO Potential■■■■■■120Negative impact 22 Excluding selected customers due to limited assortment  OO, VC Actual■■■■■■120Positive impact 23 Including and empowering diverse customer groups in overall marketing efforts OO, VC Actual■■■■■■120Negative impact 24 Exposure of sensitive customer data from Matas Group loyalty clubs OO, VC Potential■■■■■■120Financial risk 25 Regulatory fines and reputational damage from mismanaging personal customer data OO Potential■■■■■■120G1 Business Conduct Negative impact 26 Mismanaged corporate culture leading to negative impact on corporate behaviour and employee satisfaction OO Potential■■■■■■127Financial risk 27 High employee turnover and reputational damage from mismanaged corporate culture  OO Potential■■■■■■127Financial risk 28 Loss of business relationship and reputational damage OO Potential■■■■■■127VC: Value chain  OO: Own operationShort term  ■■■■■■ Medium term  ■■■■■■ Long term  ■■■■■■Impact, risk and opportunity managementIRO-1Description of the process to identify and assess material impacts, risks and opportunitiesMatas Group’s DMA is updated annually and provides an overview of the sustainability matters that are material to the Group. Our DMA has identified where our business affects people and planet, and where we need to act to mitigate any negative impacts or address risks and opportu-nities. These findings have led to the direction of Matas Group’s ESG strategy and guided our milestone plans. This year’s DMA builds upon the results from the financial year 2023/24 with no changes to the material sustainability matters.MethodologyThe identification of Matas Group’s IRO and the assessment of their materiality follow the prescriptions of double materiality as stipulated in ESRS 1. The assessment is performed both from the inside-out and outside-in perspective, representing impact and financial materiality, respectively. Our DMA provides the foundation for strategic ESG planning, budget allocation, risk manage-ment and ESG reporting. A key to driving Matas Group’s ESG strategy and performance is knowing which sustainability matters are more material than others, and therefore the identified IROs from the DMA form the basis of our sustainability reporting, our long-term ESG priorities, which targets and key performance indicators (KPIs) to track, as well as which important due diligence areas to prioritise to mitigate risks. ProcessMatas Group’s DMA process covers three phases, with the fourth phase being a recurring annual review for each iteration of the assessment. •  Phase 1: Understanding the value chain and stakeholders relevant for the DMA.•  Phase 2: Identifying and assessing materiality of sustainability matters through stakeholder engagement.•  Phase 3: Validating and approving results and integrating to ESG strategy.•  Phase 4: Annual review.The assessment is built on a solid foundation of research and consultations with a wide group of stakeholders from Matas Groups business units and relevant external stakeholders. The input for the DMA covers our scope of operations and value chain as described in section SBM-1 page 57  When identifying impacts, we have assessed our full value chain, and specific attention has been paid to the parts of the value chain where impacts are deemed likely to arise, based on the nature of the activities, business relationships, geographies and other risk factors concerned. For all identified impacts, we have carefully consid-ered the possible connections to financial risks and opportunities that may arise from these impacts. We have applied some assumptions to our DMA approach, however, these and the identi-fication of IROs are firmly anchored in qualita-tive interviews with subject matter experts and further validated by credible reports.Assessment of impacts, financial risks and opportunitiesImpacts have been assessed based on their rela-tive severity and likelihood, and risks and oppor-tunities based on their relative financial effect and likelihood. To determine the financial effect, our methodology is based on the Group’s risk management framework to determine financial thresholds, however, setting longer time frames. Assessing our financial materiality, we consider potential and actual financial effects by focusing on two main triggers:1.   Risks to Matas Group’s continued access to essential resources for our business processes.2.  Risks to maintaining key business relationships on acceptable terms.In evaluating resource access, we considered factors such as quality, pricing, supply, resource lifespan, and maintenance costs. For business relationships, we examined the impacts on finan-cial partners, suppliers, customers, brand repu-tation, external stakeholders, and community acceptance of our activities. The assessment is based on a quantitative score for all parameters with a clearly set materiality threshold for both impacts as well as financial risks and opportuni-ties. We have applied five levels (1-5) of materi-ality to assess our IROs, where any scoring over 2 would deem the identified impact, risk or oppor-tunity material. Following the identification of impacts, risks and opportunities, we have allocated our IROs to correspond with the ESRS disclosure require-ments and, as a result, descoped the immaterial disclosure requirements.Decision-making, internal control procedures and risk managementIn accordance with our sustainability governance, as described in the GOV-2 section, Matas Group’s ESG PMO Team is responsible for the yearly assessment of the sustainability matters and related IROs in close collaboration with relevant internal subject matter experts. This includes a risk assessment, focusing on the thoroughness of past DMA analyses, with specific attention to understanding business practices in our value chain where visibility has previously been limited. The DMA is reviewed annually by the Matas Group Executive Committee, the Audit Committee, and approved by the Board of Directors. The identified negative impacts and financial risks are reported into our risk management system and follow our processes to the same extent as all other corpo-rate risks. IRO-2Disclosure requirements in ESRS covered by the undertaking’s sustainability statementDisclosure requirements in ESRS covered by the sustainability statementDisclosure requirement Section Page■  ESRS 2 General disclosuresBP-1  General basis for preparation of sustainability statements 51BP-2  Disclosures in relation to specific circumstances 51GOV-1  The role of the administrative, management and supervisory bodies 53GOV-1, 21 a Number of executive and non-executive members MRGOV-1, 21 b Information about representation of employees and other workers MRGOV-1, 21 c Information about members' experience relevant to sectors, products and MRgeographic locations of undertakingGOV-1, 21 d Percentages of members of administrative, management and supervisory MRbodies by gender and other aspects of diversityGOV-1, 21 e Percentage of independent board members MRGOV-1, 5a The role of the administrative, management and supervisory bodies MRrelated to business conductGOV-1, 5b The expertise of administrative, management and supervisory bodies on MRbusiness conduct mattersGOV-2 Information provided to and sustainability matters addressed by the 54undertaking’s administrative, management and supervisory bodiesGOV-3 Integration of sustainability-related performance in incentive schemes 54GOV-4 Statement on due diligence 55GOV-5  Risk management and internal controls over sustainability reporting 56SBM-1  Strategy, business model and value chain 57SBM-2  Interests and views of stakeholders 61SBM-3  Material impacts, risks and opportunities and their interaction with 62strategy and business modelRO-1  Description of the processes to identify and assess material impacts, risks 66and opportunitiesRO-2 Disclosure requirements in ESRS covered by the undertaking’s sustaina-68bility statementDisclosure requirement Section Page■  E1 Climate changeESRS 2 GOV-3 Integration of sustainability-related performance in incentive schemes 79E1-1  Transition plan for climate change mitigation 78ESRS 2 SBM-3 Material impacts, risks and opportunities and their interaction 80with strategy and business modelESRS 2 IRO-1 Description of the processes to identify and assess material climate-79related impacts, risks and opportunitiesE1-2 Policies related to climate change mitigation and adaptation 80E1-3 Actions and resources in relation to climate change policies 80E1-4 Targets related to climate change mitigation and adaptation 81E1-5 Energy consumption and mix 83E1-6 Gross Scopes 1, 2, 3 and Total GHG emissions 84■  E2 PollutionESRS 2 IRO-1 Description of the processes to identify and assess material 95pollution-related impacts, risks and opportunitiesE2-1 Policies related to pollution 96E2-2 Actions and resources related to pollution 96E2-3 Targets related to pollution 96Disclosure requirement Section Page■  E3 Water and marine resourcesESRS 2 IRO-1 Description of the processes to identify and assess material water and 97marine resources-related impacts, risks and opportunitiesE3-1 Policies related to water and marine resources 98E3-2 Actions and resources related to water and marine resources 98E3-3 Targets related to water and marine resources 98E3-4 Water consumption N/A■  E4 Biodiversity and ecosystemsE4-1 Transition plan and consideration of biodiversity and ecosystems in 100strategy and business modelESRS 2 IRO-1 Description of processes to identify and assess material biodiversity and 99ecosystem-related impacts, risks and opportunitiesE4-2 Policies related to biodiversity and ecosystems 100E4-3 Actions and resources related to biodiversity and ecosystems 100E4-4 Targets related to biodiversity and ecosystems 100■  E5 Resource use and circular economyESRS 2 IRO-1 Description of the processes to identify and assess material resource use 101and circular economy-related impacts, risks and opportunitiesE5-1 Policies related to resource use and circular economy 102E5-2 Actions and resources related to resource use and circular economy 102E5-3 Targets related to resource use and circular economy 102E5-4 Resource inflows 102E5-5 Resource outflows 103Disclosure requirement Section Page■  S1 Own workforceESRS 2 SBM-2 Interests and views of stakeholders 61ESRS 2 SBM-3 Material impacts, risks and opportunities and their interaction with 103strategy and business modelS1-1  Policies related to own workforce 107S1-2 Processes for engaging with own workers and workers’ representatives 108about impactsS1-3 Processes to remediate negative impacts and channels for own workers 109to raise concernsS1-4 Taking action on material impacts on own workforce, and approaches to 109mitigating material risks and pursuing material opportunities related to own workforce, and effectiveness of those actionsS1-5 Targets related to managing material negative impacts, advancing posi-111tive impacts, and managing material risks and opportunitiesS1-6 Characteristics of the undertaking’s employees 106, 113S1-8 Collective bargaining coverage and social dialogue 114S1-9 Diversity metrics 115S1-10 Adequate wages 115S1-14 Health and safety metrics 115S1-16 Compensation metrics (pay gap and total compensation) 116S1-17 Incidents, complaints and severe human rights impacts 116Disclosure requirement Section Page■  S2 Workers in the value chainESRS 2 SBM-2 Interests and views of stakeholders 61Material impacts, risks and opportunities and their interaction ESRS 2 SBM-3with strategy and business model 117S2-1 Policies related to value chain workers 118S2-2 Processes for engaging with value chain workers about impacts 118Processes to remediate negative impacts and channels for value chain S2-3workers to raise concerns 118Taking action on material impacts on value chain workers, and approaches to managing material risks and pursuing material opportunities related to value chain workers, and effectiveness  S2-4of those action 119Targets related to managing material negative impacts, advancing positive S2-5impacts, and managing material risks and opportunities 119■  S4 Consumers and end-usersESRS 2 SBM-2 Interests and views of stakeholders 61Material impacts, risks and opportunities and their interaction ESRS 2 SBM-3with strategy and business model 120S4-1 Policies related to consumers and end-users 121S4-2 Processes for engaging with consumers and end-users about impacts 122Processes to remediate negative impacts and channels for consumers and S4-3end-users to raise concerns 122Taking action on material impacts on consumers and end-users, and approaches to managing material risks and pursuing material oppor-tunities related to consumers and end- users, and  S4-4effectiveness of those actions 123Targets related to managing material negative impacts, advancing positive S4-5impacts, and managing material risks and opportunities 125Disclosure requirement Section Page■  G1 Business conductESRS 2 GOV-1 The role of the administrative, supervisory and management bodies 38Description of the processes to identify and assess material impacts, risks ESRS 2 IRO-1and opportunities 66G1-1 Corporate culture and business conduct policies and corporate culture 128G1-2 Management of relationships with suppliers 128IRO-2Data points that derive from other EU legislationBenchmark EU Climate Disclosure requirement  SFDPillar 3 regulation Law Section/and related datapointreferencereferencereferencereferencepageESRS 2 GOV-1 Board's gender diversity ■ ■38paragraph 21 (d)ESRS 2 GOV-1 Percentage of board members ■38who are independent paragraph 21 (e)ESRS 2 GOV-4 Statement on due diligence ■55paragraph 30ESRS 2 SBM-1 Involvement in activities ■ ■ ■Not materialrelated to fossil fuel activities paragraph 40 (d) iESRS 2 SBM-1 Involvement in activities ■ ■Not materialrelated to chemical production paragraph 40 (d) iiESRS 2 SBM-1 Involvement in activities ■ ■Not materialrelated to controversial weapons paragraph 40 (d) iiiESRS 2 SBM-1 Involvement in activities ■Not materialrelated to cultivation and production of tobacco paragraph 40 (d) ivESRS E1-1 Transition plan to reach climate ■Not applicableneutrality by 2050 paragraph 14ESRS E1-1 Undertakings excluded from Paris-■ ■79aligned Benchmarks paragraph 16 (g)ESRS E1-4 GHG emission reduction targets ■ ■ ■82paragraph 34ESRS E1-5 Energy consumption from fossil ■83sources disaggregated by sources (only high climate impact sectors) paragraph 38ESRS E1-5 Energy consumption and mix ■83paragraph 37Benchmark EU Climate Disclosure requirement  SFDPillar 3 regulation Law Section/and related datapointreferencereferencereferencereferencepageESRS E1-5 Energy intensity associated with ■83activities in high climate impact sectors paragraphs 40 to 43ESRS E1-6 Gross Scope 1, 2, 3 and Total GHG ■ ■ ■84emissions paragraph 44ESRS E1-6 Gross GHG emissions intensity ■ ■ ■84paragraphs 53 to 55ESRS E1-7 GHG removals and carbon credits ■Not materialparagraph 56ESRS E1-9 Exposure of the benchmark ■Not materialportfolio to climate-related physical risks paragraph 66ESRS E1-9 Disaggregation of monetary ■Not materialamounts by acute and chronic physical risk paragraph 66 (a). Location of significant assets at material physical risk paragraph 66 (c).ESRS E1-9 Breakdown of the carrying value ■Not materialof its real estate assets by energy-efficiency classes paragraph 67 (c).ESRS E1-9 Degree of exposure of the portfolio ■Not materialto climate- related opportunities paragraph 69ESRS E2-4 Amount of each pollutant listed in ■Not materialAnnex II of the E-PRTR Regulation (European Pollutant Release and Transfer Register) emitted to air, water and soil, paragraph 28ESRS E3-1 Water and marine resources ■97paragraph 9ESRS E3-1 Dedicated policy paragraph 13■Not materialBenchmark EU Climate Disclosure requirement  SFDPillar 3 regulation Law Section/and related datapointreferencereferencereferencereferencepageESRS E3-1 Sustainable oceans and seas ■Not materialparagraph 14ESRS E3-4 Total water recycled and reused ■Not materialparagraph 28 (c)3■ESRS E3-4 Total water consumption in m per Not material net revenue on own operations paragraph 29ESRS 2- SBM 3 - E4 paragraph 16 (a) i■Not materialESRS 2- SBM 3 - E4 paragraph 16 (b)■Not materialESRS 2- SBM 3 - E4 paragraph 16 (c)■Not materialESRS E4-2 Sustainable land / agriculture ■100practices or policies paragraph 24 (b)ESRS E4-2 Sustainable oceans / seas ■100practices or policies paragraph 24 (c)ESRS E4-2 Policies to address deforestation ■100paragraph 24 (d)ESRS E5-5 Non-recycled waste paragraph ■10337 (d)ESRS E5-5 Hazardous waste and radioactive ■103waste paragraph 39ESRS 2- SBM3 - S1 Risk of incidents of forced ■107labour paragraph 14 (f)ESRS 2- SBM3 - S1 Risk of incidents of child ■107labour paragraph 14 (g)ESRS S1-1 Human rights policy commitments ■107paragraph 20ESRS S1-1 Due diligence policies on issues ■107addressed by the fundamental International Labor Organisation Conventions 1 to 8, paragraph 21ESRS S1-1 Processes and measures for ■Not materialpreventing trafficking in human beings paragraph 22ESRS S1-1 Workplace accident prevention ■108policy or management system paragraph 23Benchmark EU Climate Disclosure requirement  SFDPillar 3 regulation Law Section/and related datapointreferencereferencereferencereferencepageESRS S1-3 Grievance/complaints handling ■109mechanisms paragraph 32 (c)ESRS S1-14 Number of fatalities and number ■ ■115and rate of work-related accidents paragraph 88 (b) and (c)ESRS S1-14 Number of days lost to injuries, ■Phase-inaccidents, fatalities or illness paragraph 88 (e)ESRS S1-16 Unadjusted gender pay gap ■ ■116paragraph 97 (a)ESRS S1-16 CEO pay ratio paragraph 97 (b)■RemunerationReport, 22ESRS S1-17 Incidents of discrimination ■116paragraph 103 (a)ESRS S1-17 Non-respect of UNGPs on ■ ■107Business and Human Rights and OECD Guidelines paragraph 104 (a)ESRS 2- SBM3 – S2 Significant risk of child ■118labour or forced labour in the value chain paragraph 11 (b)ESRS S2-1 Human rights policy commitments ■118paragraph 17ESRS S2-1 Policies related to value chain ■118workers paragraph 18ESRS S2-1 Non-respect of UNGPs on Business ■ ■118and Human Rights principles and OECD guidelines paragraph 19ESRS S2-1 Due diligence policies on issues ■118addressed by the fundamental International Labor Organisation Conventions 1 to 8, paragraph 19ESRS S2-4 Human rights issues and incidents ■118connected to its upstream and downstream value chain paragraph 36ESRS S3-1 Human rights policy commitments ■Not materialparagraph 16Benchmark EU Climate Disclosure requirement  SFDPillar 3 regulation Law Section/and related datapointreferencereferencereferencereferencepageESRS S3-1 Non-respect of UNGPs on Business ■ ■Not materialand Human Rights, ILO principles or OECD guidelines paragraph 17ESRS S3-4 Human rights issues and incidents ■Not materialparagraph 36ESRS S4-1 Policies related to consumers and ■121end-users paragraph 16ESRS S4-1 Non-respect of UNGPs on Business ■ ■123and Human Rights and OECD guidelines paragraph 17ESRS S4-4 Human rights issues and incidents ■123paragraph 35ESRS G1-1 United Nations Convention against ■128Corruption paragraph 10 (b)ESRS G1-1 Protection of whistle- blowers ■128paragraph 10 (d)ESRS G1-4 Fines for violation of anti- ■ ■Not materialcorruption and anti-bribery laws paragraph 24 (a)ESRS G1-4 Standards of anti- corruption and ■Not materialanti- bribery paragraph 24 (b)Through our DMA process, we have determined what information is material for our Sustainability State-ments, and which are not. It is through this process that ESRS S3 Affected Communities is not deemed material. This is because the Group's identified IROs for consumers and end-users indirectly also targets the affected communities. As such, we consider our customers to be part of the communities surrounding Matas Group operations making S3 Affected Communities immaterial for our reporting obligations.  Summarised Minimum Disclosure Requirement table in relation to Matas Group impacts, risks and opportunitiesThis table provides an overview of Matas Group’s IROs with references to where in this Sustaina-bility Statement their associated minimum disclo-sure requirements can be found. For IROs where we do not have policies and actions, the reason is described and the explanation can also be found in the topical standards. For IROs where we do not have targets set, but have either policies or actions, we disclose how effectiveness is tracked. This is also described in the topical standards.ESRS topical standard  IRO description Policy Action TargetsE1 GHG emissions from transportation of goods E1-2 (page 80) E1-3  (page 80) E1-4 (page 81)in upstream and downstream value chainsE1 Energy consumption of suppliers, stores, E1-2 (page 80) E1-3  (page 80) E1-4 (page 81)warehouses, and officesE2 Product chemicals polluting water during E2-1 (page 96) No actions, as our policies are fundamental in the No targets set. Effectiveness of policy is tracked whenmanufacturing and in the use phaseway we collaborate with our suppliers, and as such, monitoring IRO development. by default, mitigate the potential negative impacts.E2 Potentially harmful chemicals and ingredients E2-1 (page 96) No actions, as our policies are fundamental in the No targets set. Effectiveness of policy is tracked whenabsorbed by human bodies during use phaseway we collaborate with our suppliers, and as such, monitoring IRO development. by default, mitigate the potential negative impacts.E2 Products may contain microplastics that can E2-1 (page 96) No actions, as our policies are fundamental in the No targets set. Effectiveness of policy is tracked whenpollute water during production and in the way we collaborate with our suppliers, and as such, monitoring IRO development. use phaseby default, mitigate the potential negative impacts.E3 Significant amounts of water used for product No policy, as Matas Group has no production No actions, as Matas Group has no production No targets set. As no policies or actions are present, manufacturing in the value chainfacilities, the identified impact occurs upstream facilities, the identified impact occurs upstream we do not track effectiveness of these, however, we and should be addressed by our suppliers during and should be addressed by our suppliers during monitor IRO development. manufacturing.manufacturing.E3 Water scarcity in the value chain No policy, as Matas Group has no production No actions, as Matas Group has no production No targets set. As no policies or actions are present, facilities, the identified impact occurs upstream facilities, the identified impact occurs upstream we do not track effectiveness of these, however, we and should be addressed by our suppliers during and should be addressed by our suppliers during monitor IRO development. manufacturing.manufacturing.ESRS topical standard  IRO description Policy Action TargetsE4 Biodiversity impacts from extraction of raw No policy, as the identified negative impact arise in No actions, as the identified negative impact No targets set. As no policies or actions are present, materialsthe upstream value chain and should be addressed arise in the upstream value chain and should be we do not track effectiveness of these, however, we by our suppliers and sub-suppliers during ingre-addressed by our suppliers and sub-suppliers monitor IRO development. dient sourcing.during ingredient sourcing.E5 Resource use for products and product No policy, as the identified impact primarily occurs No actions, as the identified impact primarily No targets set. As no policies or actions are present, packagingin the upstream value chain, mitigation measures occurs in the upstream value chain, mitigation we do not track effectiveness of these, however, we must be adressed by the Group's suppliers.measures must be adressed by the Group's monitor IRO development. suppliers.E5 Product packaging waste No policy, as the identified impact primarily No actions, as the identified impact primarily No targets set. As no policies or actions are present, happens in the downstream value chain and deci-happens in the downstream value chain and deci-we do not track effectiveness of these, however, we sions to mitigate are beyond the Group's opera-sions to mitigate are beyond the Group's opera-monitor IRO development. tional control. tional control. E5 Waste from own operations No policy, as the majority of waste generated in our No actions, as the majority of waste generated in No targets set. As no policies or actions are present, own operations is recycled, additional mitigation our own operations is recycled, additional mitiga-we do not track effectiveness of these, however, we measures are not assessed to be necessary.tion measures are not assessed to be necessary.monitor IRO development. S1 Negative effect of poor working conditions No policy, as Matas Group has internal guidelines ES1-3 (page 109) S1-MDR-T (page 111)and structures to manage working conditions, developing external policies has not been assessed as necessary.S1 High employee turnover and reputational No policy, as Matas Group has internal guidelines ES1-3 (page 109) S1-MDR-T (page 111)damageand structures to manage working conditions, developing external policies has not been assessed as necessary.S1 Positive effect of good working conditions No policy, as Matas Group has internal guidelines ES1-3 (page 109) S1-MDR-T (page 111)and structures to manage working conditions, developing external policies has not been assessed as necessary.S1 Maintaining and attracting employees and No policy, as Matas Group has internal guidelines ES1-3 (page 109) S1-MDR-T (page 111)strengthening corporate brand imageand structures to manage working conditions, developing external policies has not been assessed as necessary.S1 Unsuccessful policies for diversity and S1-1 (page 107) ES1-3 (page 109) No targets set. Tracking effectiveness is described on equal treatment and opportunities for all page 110.employeesS2 Poor working conditions in the upstream S2-1 (page 118) S2-4 (page 119) No targets set. Tracking effectiveness is described on value chainpage 119.S2 Work-related rights in the raw materials S2-1 (page 118) S2-4 (page 119) No targets set. Tracking effectiveness is described on extraction phasepage 119.ESRS topical standard  IRO description Policy Action TargetsS4 Providing quality product information and S4-1 (page 121) S4-4 (page 123) S4.MDR-T (page 124)guidance for customers through Matas Group communications channelsS4 Misinformation of products impacting the S4-1 (page 121) S4-4 (page 123) S4.MDR-T (page 124)health and safety of customersS4 Misinformation of products affecting Matas S4-1 (page 121) S4-4 (page 123) S4.MDR-T (page 124)Group's reputation as a trusted destinationS4 Excluding selected customers due to limited No policy, as the indentified impacts is potential, No actions, as the indentified impacts is potential, No targets set. As no policies or actions are present, assortmentand Matas Group's assortment scoping continously and Matas Group's assortment scoping continously we do not track effectiveness of these, however, we assess customer needs and demands. assess customer needs and demands. monitor IRO development. S4 Including and empowering diverse customer No policy, as Matas Group has internal guidelines in No actions, as Matas Group has internal guidelines No targets set. As no policies or actions are present, groups in overall marketing effortsplace to ensure inclusive marketing practices. in place to ensure inclusive marketing practices. we do not track effectiveness of these, however, we monitor IRO development. S4 Exposure of sensitive customer data from S4-1 (page 122) S4-4 (page 123) No targets set. Tracking effectiveness is described on Matas Group loyalty clubspage 124.S4 Regulatory fines and reputational damage S4-1 (page 122) S4-4 (page 123) No targets set. Tracking effectiveness is described on from mismanaging personal customer datapage 124.G1 Mismanaged corporate culture leading to G1-1 (page 128) Not material N/Anegative impact on corporate behaviour and employee satisfactionG1 High employee turnover and reputational G1-1 (page 128) Not material N/Adamage from mismanaged corporate cultureG1 Loss of business relationship and reputational G1-2 (page 128) Not material N/AdamageAt Matas Group, we recognise the urgency of mitigating climate change and the importance of aligning with global objectives, including the Paris Agreement’s goal of limiting temperature rise. With a new climate transition plan, we are striving to lower emissions within our operations and along our value chain.E1-1Matas Group’s climate transition plan In March 2024, the Group committed to setting and submitting science-based targets (SBTs) before March 2026. Since then, we have updated our carbon accounting and aligned our Green-house Gas (GHG) inventory with the Science Based Targets initiative (SBTi) standards. As a result, we have developed clear mitigation targets covering Scope 1, Scope 2, and Scope 3 emis-sions.Scope 1 and Scope 2 emissions reduction ambitions Matas Group is targeting a 42% reduction in direct GHG emissions (Scope 1 and Scope 2) by 2030. This reduction will be secured by investing in renewable energy through power purchase agreements (PPAs) for all Danish offices, ware-houses, and stores, aiming for up to 86% of our electricity needs to be met by renewable sources. In other Nordic markets, our electricity consump-tion is already largely covered by renewable energy investments, the grid has more renewable sources and, as such, represents a smaller share of our total emissions. We are also transitioning our Nordic company car fleet to electric vehicles, with the goal of achieving a fully electric fleet by 2030. This will further support our emissions reduction goals, particularly targeting our Scope 1 emissions. Scope 3 emissions reduction ambitions  For Scope 3 emissions, our ambition is for suppliers to have science-based reduction path-ways in place by 2029 (Financial year 2029/30). We will aim to target suppliers covering 67% of Matas Group’s Scope 3 emissions. For further detailing of our emission reduc-tion targets, including key reduction levers and investments, please see section E1-3: Actions and resources related to climate change and E1-4: Targets related to climate change.Locked-In emissions and transition risksOur locked-in GHG emissions currently consist of 2% of our total Scope 1 and Scope 2 emissions and are primarily associated with our company car fleet, heating of our stores and warehouses. They are locked in due to long-term leasing agreements and are reflected in our Scope 1 and Scope 2 disclosures (see E1-6 for a full disclosure of Scope 1 and Scope 2 emissions).  Through the initiatives described above, Matas Group is committed to mitigating material climate-related risks and impacts with our climate transition plan. Our approach enhances opera-tional efficiency and resilience across our busi-ness, while also strengthening collaboration with suppliers throughout our value chain.Matas Group is not excluded from the EU Paris-aligned benchmarks.  Transition plan alignments with business strategy Our climate transition plan has been approved by the Matas Group Executive Committee and the Board of Directors in the financial year 2024/25. It is embedded in our business strategy to “Win the Nordics”. The transition plan is part of the new Group ESG strategy and realised by the cross-functional ESG Centre Of Excellence. As such, the ESG strategy outlines the steps we are taking to achieve our goals, reinforcing our commitment to mitigating material impacts and risks stemming from the emissions generated in our own operations and value chain. Our Remu-neration Policy links incentives to the Group’s overall ESG performance, as measured by external ESG ratings. This ensures that progress on our climate transition plan is integrated into business performance evaluations. However, because these ratings reflect overall ESG outcomes, we cannot specify the exact portion of bonuses tied solely to climate change.As we recently adopted the transition plan, its implementation will begin as of the financial year 2025/26.   E1.IRO-1Processes to identify impacts, risks and opportunitiesAt Matas Group, the identification of climate-re-lated IROs begins with tracking GHG emissions from Scopes 1, 2, and 3, enabling us to pinpoint direct and indirect climate impacts across our value chain. We closely monitor emissions and energy consumption in stores, offices, and ware-houses, screening activities to evaluate actual and potential climate impacts. Our assessment of climate-related IROs aligns with the methodology of our DMA, considering climate-related hazards and transition risks as outlined in the ESRS. Although our upstream value chain faces physical risks from climate change challenges, these are not deemed material to Matas Group due to our diverse supplier base, however further analysis is required to understand how climate change will affect the Group’s business performance. Transi-tion risks are furthermore qualitatively assessed within our DMA process, evaluating the expo-sure of our assets and business activities. While we have not yet conducted a climate scenario anaysis, we plan to do so in the next financial year to enhance our understanding of climate-related IROs.  Climate-related hazards and physical risksWith the nature of Matas Group’s own operations, climate-related hazards are relevant for assessing our retail locations, such as our store and ware-house locations. We have not conducted a site-by-site screening of climate-related hazards, but performed a general understanding of which climate-related hazards are relevant for our locations and, as such, pose a financial risk for our businesses in the short, medium, and long-terms.When assessing the potential financial risk of physical climate-related hazards, we identified physical climate-related risks from both acute and chronic risks, where such risks have the potential to disrupt Matas Group's operations, relevant for our further assessment and our future climate resilience analysis. Acute risks such as extreme weather events may result in cases of periodic flooding, where heavy rain in locations that are missing critical climate adap-tation infrastructure can lead to flooding of city centres and potentially our stores. For our ware-house location, such a risk is potential and should be assessed for all Group locations, however, for our new warehouse, Matas Logistics Center (MLC), climate adaptation measures have been implemented as part of the alignment to the EU taxonomy do-no-significant-harm criteria. Given the history and low frequency of previous such events affecting Matas Group's operations, this risk is considered a medium-term risk. Chronic risks such as rising sea levels can pose a long-term risk where again city centres and Matas Group locations could potentially be flooded. For our value chain, we have preliminary identified drought as a chronic risk, alongside occasional flooding of regions as acute risks, potentially impacting the operations of our suppliers. Based on our diverse supplier base supplying us prod-ucts from a wide range of geographical locations, we have not assessed this to have a short-term risk disrupting Matas Group’s operations, however, these assumptions will be further evaluated in our climate resilience analysis. Climate-related transition risksFor Matas Group's own operations and value chain, we have done a preliminary indication of climate-related transition risks relating to policy-making, market, reputation, and technologies. As a retailer we can potentially face several transition risks as we plan to, and our stakeholders expect us to, adapt to a low-carbon economy. Regulatory risks may arise from increased compliance costs and carbon pricing mechanisms increasing emis-sion fees. Market risks involve shifts in consumer preferences requiring that we adapt our offering and product portfolio to meet low-impact prod-ucts and services. Furthermore, we can be poten-tially exposed to reputational risks if we fail to address, manage, and take responsibility of our carbon footprint, consequently damaging brand value and customer loyalty. Technological risks involve the challenges and costs of adopting new emissions-reducing technologies. All the identi-fied risks are assessed to be short, medium and long-terms and our climate resilience analysis will qualify these time horizons. The planned development of a climate resilience analysis and further assessment of climate-related hazards relevant for Matas Group operations and value chain will be based on high emissions climate scenarios and will build upon our initial assessment of acute, chronic, and transitional risks and events affecting the Group. As we have not yet assessed our business resilience in relation to climate scenarios, no critical climate-related assumptions are made in the financial statements.  E1.SBM-3Material impacts, risks and opportunities Matas Group has identified two material negative impacts within its value chain:  1   GHG emissions from transportation of goods in upstream and downstream value chains. 2   Energy consumption of suppliers, stores, warehouses, and offices.Transportation of products and its related emis-sions are a part of our upstream and downstream value chain, where our suppliers ship products to our warehouses and where the products reach the consumers, either through our e-commerce sites or via our stores. Transportation by suppliers takes place worldwide while the transportation from our operations to the consumers happens across Denmark, Norway, Sweden, and Finland. 97.9% of Matas Group’s GHG emissions come from Scope 3, wherein emissions from transpor-tation lie. Currently, we have a strong focus on lowering GHG emissions, but it is inevitable that our business activities have an impact on the environment. The ambition of growing our e-com-merce business also leads to increased transpor-tation demands and logistics costs adding to the size of the impact. GHG emissions from the products we sell come partially from the energy used for manufacturing and other cradle-to-gate related emissions. These emissions make up 80% of our total Scope 3 emissions. In addition, the energy consumption from our own operations in our stores, offices, and warehouses also has a current negative impact on the environment. We have not currently conducted a climate scenario analysis or a formal resilience assess-ment in relation to climate change. However, we believe this assessment is fundamental in under-standing the long-term plan to grow as a business whilst managing our negative impacts. Therefore, we have plans to conduct a climate resilience analysis of our business model and strategy within the next financial year.  E1-2Policies related to climate change In our CSR Policy, we have set out our ambition to address and reduce our GHG emissions, both those from our own operations and our value chain. It covers the consolidated emissions from Matas Group’s Scope 1, Scope 2 and Scope 3. As we have submitted our science-based targets, we are pending approval from SBTi before we can update our Policy to reflect our updated targets for the Group. Our Board of Directors approves our Policy, while the Executive Management Team is responsible for ensuring adequate resources for the implementation of the updated Policy objectives. E1-3Actions and resources related to climate change    Our actions to mitigate climate change address both our own operations and our upstream and downstream value chains. In the financial year 2024/25, we have taken several actions to miti-gate our impact on climate change.Developing science-based targetsFollowing Matas Group’s commitment to setting science-based targets in the previous financial year and included these in the development of a new Group ESG strategy, we have developed and submitted science-based targets for the Group. As a result, we have taken actions this year to address our emissions.Decision to procure renewable energy for warehouses, stores, and offices in Denmark   In the financial year 2024/25, we sourced renewable energy certificates covering 60% of our electricity needs in Denmark and 67% for Sweden. However, we are looking to strengthen our commitment to procure renewable energy further, by Power Purchase Agreements (PPA) and replacing the use of renewable energy certifi-cates. As such, it was agreed that Matas Group will procure 86% of our electricity consumption in Denmark through a PPA. This is one of the reductions levers that will be fundamnetal in achieving our science-based targets. We expect to secure our PPA investment during the coming financial year 2025/26. We do not expect that this investment will exceed current investment into electricity consumption, and as such require additional significant CAPEX investments.  Updated Company Car Policy  During the financial year, we have updated our internal Company Car Policy, with the requirement to transition away from having fossil-fuelled cars in our company fleet. This initiative applies to company car fleets operating across the Nordic countries. It is anticipated to further contribute to the overall Scope 1 and Scope 2 emissions reduc-tion target by 2%.  Sourcing products and services from suppliers with science-based reduction pathways  For the coming financial year, we will engage with suppliers to understand their intentions for setting emission reductions plans that align with the Paris Agreement. This engagement, which will be ongoing until 2029/30, will enable us to indi-rectly reduce our Scope 3 emissions, through the responsibility we ask of suppliers, and to reach our Scope 3 supplier engagement target. As we intend to source products and services from suppliers that adhere to the standards of target setting from SBTi, we can extend the responsi-bility of decarbonisation to our value chain. This effort will focus on suppliers across all Matas Group locations in the Nordics. E1-4Targets related to climate change We have developed near-term emission reduction targets for our Scope 1 and Scope 2 emissions through the Science Based Targets initiative (SBTi) by using a cross-sector emission pathway compatible with limiting global warming to 1.5°C. We will also address our Scope 3 emissions with a separate Engagement Target following SBTi requirements which aim at influencing our suppliers to set reduction targets aligned with the science-based method. Scope 1 and Scope 2 emissions reduction target By 2030, Matas Group aims to reduce its Scope 1 and Scope 2 emissions by 42% from our baseline year 2024/25. This target covers the total Scope 1 and Scope 2 emissions (based on the market-based method) as required by the SBTi guidance. Our target covers 2% of our Scope 1 emissions, and at least 40% of our Scope 2 emissions. We aim to reduce our Scope 1 and Scope 2 emis-sions to 2,727 tCOe compared to our baseline of 24,701 tCOe covering emissions generated across 2offices, stores, and warehouses under Matas Group’s operational control. The decarbonisation levers to achieve this will be to procure renew-able energy covering 86% of Matas’ electricity consumption through PPAs which is expected to achieve at least ~40% emission reductions in Scope 1 and Scope 2: Near-term absolute reduction targetsMatas Group expected GHG emissions reduction on Scope 1 and Scope 2 (tCOe)2Scope 2, and to transition our Group company car fleet to electric vehicles, which is expected to realise 2% emission reductions in Scope 1. Scope 3 supplier engagement target  Matas Group has set a supplier engagement target in order to influence our Scope 3 GHG emissions. As most of our emissions lie within our upstream value chain, it is a priority for us to engage with our suppliers and drive the emis-sion reduction efforts. Consequently, Matas Group seeks to have its suppliers, covering 67% of the Group’s total Scope 3 GHG emissions, set science-based targets by 2029/30, aligning with the overall ambition of SBTi, to limit global warming to 1.5°C. The supplier engagement target is a relative target, as it is measured on share of suppliers, who have set targets, and hereby indirectly seeks to encourage emission reductions in our suppliers’ value chain. In our baseline year 2024/25, 15.1% of Matas Group’s Scope 3 emis-sions were covered by suppliers that have already adopted science-based targets.  Both targets are based on the annual assessment of Matas Group’s GHG emissions. The emissions calculated across all relevant Scopes are based on the accounting of the greenhouse gases presented under E1-6 accounting policies. As such, we have ensured the consistency of these targets with our GHG inventory boundaries.Monitoring progressMonitoring and accountability are integral to the success of our actions. Progress to meet the targets will be tracked by the ESG PMO Team with regular updates provided to the Executive Management Team and the Board of Directors. The Scope 1 and Scope 2 percentage of emis-sion reduction compared to base year and the percentage of emissions from suppliers covered by SBTi are the metrics tracked to monitor progress of both targets. However, we will also conduct annual reviews to assess performance, ensuring the targets remain on track and aligned with both internal ambitions and external devel-opments. As this financial year 2024/25 is our baseline year, we are not reporting on our progress to meet our targets, however, this will be reported annually.  Upon release of our annual report, we have submitted our scienced-based targets, pending the validation process. E1 Ent. Spec. Scope 3 supplier engagement Unit 2024/25Scope 3 emissions covered by suppliers with reduction plans % 15.1E1-4GHG emissions reduction targetsTarget year Current progress FY Target Unit Type of target Baseline year Baseline Target yearemissions2024/25Scopes 1 &amp; 2 - Reduce emissions by 42%Near term - tCOeabsolute reductions 2024/25 4,701 2030/31 2,727 02Scope 3 - 67% of the Group’s total Scope 3 GHG emissions are Near term - covered by suppliers who have adopted science-based targets  %Engagement target 2024/25 15.1 2029/30 67 0Accounting policies Entity specific Scope 3 supplier engagementThis data point shows how many of Matas Group suppliers have emission reduction pathways and targets in place, through either The Scienced Based Targets initiative or that aligns with the Science Based Targets framework. It is measured by identifying Scope 3 emissions from suppliers that have reduction pathways and targets, and then compared to the overall Scope 3 emissions.     E1-5Energy intensity per net revenue Unit 2024/25Energy intensity per net revenue MWh per DKK million 4.3Total energy consumption MWh 35,827Accounting policies Matas Group's operations, as a specialised retailer with sales of cosmetics and toilet articles, as defined by EU NACE codes, is percieved as a high climate impact sector.   Energy intensity is calculated by dividing the total energy consumption by the total revenue. The revenue, which serves as the denominator in this calculation, can be found in the Management's Review (see note 2).E1-5Energy consumption and mix   Unit 2024/25Fuel consumption from coal and coal products MWh -Fuel consumption from crude oil and petroleum products MWh 1,254Fuel consumption from natural gas MWh 1,318Fuel consumption from other fossil sources MWh -Consumption of purchased or acquired electricity, heat, steam, and cooling from fossil source MWh 6,262Total fossil energy consumption MWh 8,833Share of fossil sources in total energy consumption % 24.6Consumption from nuclear sources  MWh 2,062Share of consumption from nuclear sources in total energy consumption % 5.8Fuel consumption for renewable sources, including biomass -Consumption of purchased or acquired electricity, heat, steam, and cooling from renewable sources 24,625Consumption of self-generated non-fuel renewable energy 306Total renewable energy consumption MWh 24,931Share of renewable sources in total energy consumption % 69.6Total energy consumption MWh 35,827Accounting policies Energy consumption and mixMatas Group’s energy consumption consists of fuel for cars and natural gas for boilers, electricity and district heating.The total energy consumption across Matas Group is compiled based on own and direct supplier informa-tion of the total consumption of energy. The energy consumption is based on metered data resulting in a high degree of certainty. In some cases where data has been unavailable, specific consumption elements have been estimated based on samples notably for district heating consumption in shops where the utility consumption is included in the lease and the lease payments.The assessment of mix of the energy consumption is based partly on direct supplier information and partly on generic information on the energy mix for electricity and district heating in Denmark and SwedenThe assessment of the energy consumption and the energy mix accounting are controlled internally by Matas Group and approved by Management.E1-6Gross Scopes 1, 2, 3 and total GHG emissions Unit 2024/25Scope 1 GHG emissionsGross Scope 1 GHG emissions tCOe 6282Scope 2 GHG emissionsGross location-based Scope 2 GHG emissions tCOe  1,3382Gross market-based Scope 2 GHG emissions tCOe  4,0732Significant Scope 3 GHG emissionsTotal gross indirect (Scope 3) GHG emissions tCOe  221,515 2Category 1: Purchased goods and services tCOe  175,178 2Category 2: Capital goods tCOe 36,6642Category 3: Fuel and energy-related activities tCOe  4892Category 4: Upstream transportation and distribution tCOe  2,4762Category 5: Waste generated in operations tCOe 432Category 6: Business travel tCOe 3,3852Category 7: Employee commuting tCOe 3,0222Category 11: Use of sold products tCOe 152Category 12: End-of-life treatment of sold products tCOe 2432Percentage of GHG Scope 3 calculated using primary data % 0Total GHG emissions tCOe  226,216 2Total GHG emissions (location-based) tCOe  223,481 2Total GHG emissions (market-based) tCOe  226,216 2GHG intensity per net revenueTotal GHG emissions (location-based) per net revenue tCOe per 2DKK million 26.7Total GHG emissions (market-based) per net revenue tCOe per 2DKK million 27Net revenue (See note 2)   Millions (DKK) 8,379Contractual instrumentsPercentage of contractual instruments, Scope 2 GHG emissions % 54.7Percentage of contractual instruments used for sale and purchase of energy bundled with attributes about energy generation in relation to Scope 2 GHG emissions % 16.8Percentage of contractual instruments used for sale and purchase of unbundled energy attribute claims in relation to Scope 2 GHG emissions % 37.9Accounting policies Gross Scopes 1, 2, 3 and total GHG emissions The carbon emissions accounting is compiled in conformance with the GHG Protocol Corporate Standard as well as the – GHG protocol Corporate Value Chain (Scope 3) Accounting and Reporting Standard. The emissions calculated across all Scopes are based on the accounting of the following greenhouse gases generated across Matas Group’s value chain, as required by the GHG Protocol: •  Carbon Dioxide (CO) 2•  Methane (CH) 4•  Nitrous Oxide (NO) 2•  Hydrofluorocarbons (HFCs) •  Perfluorocarbons (PFCs) •  Sulfur Hexafluoride (SF) 6•  Nitrogen Trifluoride (NF). 3All Scope 1, Scope 2 and Scope 3 emissions are compiled based on an organisational and operational boundary for the reporting year deploying the operational control standard of the GHG Protocol, covering all business units and geographies. The accounting and reporting follow the Matas Group financial year from 1 April through 31 March.The information prepared for Scope 1, Scope 2 and Scope 3 reporting has been controlled internally and vali-dated against financial records. The Scope 1, Scope 2 and Scope 3 reporting is controlled and approved by Management. Scope 1 GHG emissionsScope 1 covers direct GHG emissions from Matas Group’s operational activities (eg. fuels and gas consump-tion and fugitive emissions from use of refrigerants).Matas Group has applied the GHG Protocol Corporate Standard (version 2004) including supporting GHG supporting guidance and documents to prepare the information for reporting on the Group’s Scope 1 GHG emissions, which includes fuel consumption for vehicles, gas consumption for heating and fugitive emissions from refrigerants. Matas Group acquires information on fuel, gas and refrigerant consumption from the suppliers with data generally on an activity level. The emission factor for gas is sourced from the generic market emission factors (Energistyrrelsen). The emis-sion factors for fuels for vehicles and refrigerants are sourced from the suppliers. The emission factor for refrigerant is verified applying the GHG Protocol (IPCC GWP AR6). Scope 2 GHG emissionsScope 2 covers Matas Group’s indirect GHG emissions from operational activities requiring electricity and heating consumption.  Matas Group has applied the GHG Protocol Corporate Standard (version 2004) including supporting GHG supporting guidance and documents to prepare the information for reporting on the Group’s Scope 2 GHG emissions, which includes indirect energy consumption (heat and electricity). Matas Group acquires information on electricity and heating consumption from the suppliers and in some cases from building lessors. The heating consumption in shops has been estimated based on detailed accounts for a sample of shops and the full population consumption estimated. The data is mainly sourced on an activity level except for business unit level for the Matas Group’ subsidiary data points. The emission factors for energy and heat are sourced from the supplier. In cases where the supplier is unable to provide emission factors, relevant national or regional statutory emission factors have been applied e.g. Environmental declaration for East Denmark respectively West Denmark, Sweden, Norway and Finland.The carbon emissions from Matas Group’s electricity consumption are estimated using both the loca-tion-based method and the market-based method. The location-based method is a measure of the carbon footprint of the actual electricity consumption measured using the actual energy mix at the time of consumption. The market-based method is a measure of Matas Group's carbon emissions net of traded renewable energy certificates including both Matas Group certificates purchases as well as other market participants purchases of certificates showcasing Matas Group’s commitment to an energy system tran-sition to renewables. Matas Group has acquired both bundled renewables certificates (packaged with the energy purchase) and unbundled renewables certificates (purchases of stand-alone certificates). The location-based emissions factor in West Denmark is 92.8 g COe/KWh and in East Denmark it is 42.3 g 2COe/KWh. In Sweden the emissions factor is 6.5 g COe/Kwh, while being 45.17 g COe/Kwh in Finland and 0 g 222COe/Kwh in Norway.2The market-based emissions factor is 487 g COe/KWh in Denmark, 68.2 g COe/KWh in Sweden, 598.6 g 22COe/Kwh in Norway and 565.3 g COe/Kwh in Finland.22Matas Group´s purchase of unbundled contractual instruments to decarbonise the electricity consumption is accounted for separately and the nature of the instruments disclosed (REC).Scope 2 emissions include the own production of renewable electricity from solar panels (totalling 308 Mwh).Scope 3 GHG emissionsA screening of all relevant Scope 3 categories for Matas Group has been undertaken for the 2024/25 baseline year by applying the GHG protocol guidance on boundaries requirement in order to identify the emission categories that are significant for the Group. This screening excluded from further accounting the following categories: 8, 9, 10, 13, 14 and 15 as either no emissions occur due to the nature of Matas Group operations, or the source of emissions was not included in the GHG Protocol Corporate Value Chain (Scope 3) Accounting and Reporting Standard (Version 2011) guidance related to the minimum boundaries requirements.Matas Group has applied the GHG Protocol Corporate Standard (version 2004) including supporting GHG supporting guidance specifically the GHG Corporate Value Chain and related GHG documents to prepare the information for reporting on all the Group’s Scope 3 GHG emissions. Scope 3 Category 1 Purchased goods and servicesThis category includes greenhouse gas (GHG) emissions from Matas Group’s purchases of goods and services related to its operational activities, including goods for resale. The spend-based method is applied using corporate-level data sourced from the Group’s consolidated financial accounts.Purchases of goods and services except goods for resale are allocated to relevant spend categories, each associated with a specific emission factor (g COe/DKK). Emission factors are primarily sourced from 2EXIOBASE v3 and DEFRA 2023, based on best category alignment. Categories related to electricity, district heating, natural gas, and vehicle fuels are excluded to avoid double counting, as these are already included under Scopes 1 and 2. Other exclusions apply to categories already accounted for in other Scope 3 areas (e.g., Capital Goods, Transport, Waste, Business Travel, Commuting, End-of-Life Treatment of Products).Industry gap and custom approachFor the goods for resale, there is currently no widely recognised emission factor for the manufacturing of cosmetics and beauty products. Available alternatives, such as factors for pharmaceuticals, soaps/deter-gents, or beauty retail, either over or underestimate emissions and do not reflect the real impact of Matas Group’s upstream supply chain.Therefore, to ensure a more accurate and representative estimate, especially given that Category 1 accounts for 79% of total emissions, Matas Group has chosen to develop a custom method using supplier-specific data where possible. This approach also aligns with our SBTi commitment and our long-term strategy to engage suppliers and reduce emissions by 2030.Methodology and categorisation of purchased goodsMatas Group’s purchases of goods for resale are divided into three subcategories, based on supplier climate maturity and data availability:1. Matas-branded goods (~5% of total goods spend) Emission factor: 26.53 g CO₂2e/DKKa.Based on the supplier-specific 2023 data (energy use + fugitive emissions).b. Reflects direct data from the main manufacturer of Matas-branded products.2. Climate-aligned suppliers (~39%)Emission factor for direct estimates: 19.62 g COe/DKK (weighted average)2a. Includes 14 out of a total of 46 suppliers all aligned with the SBTi and reporting in line with the GHG Protocol – the 14 suppliers account for approximately 98% of all SBTi supplier’s sales.b. Emission intensity is calculated using each supplier’s reported Scope 1–3 emissions divided by their annual turnover.c. Latest public data used (mostly 2024).d. The 32 remaining suppliers’ footprint is estimated based on the average of the 14 SBTi aligned supplier’s footprint: 24.09 g COe/DKK (unweighted average)23. Other Suppliers (~55%)Emission factor: 29.4 g COe/DKK (unweighted average)2a. Based on 17 beauty product manufacturers with public carbon accounts and material Scope 3 data reporting.b. This group includes suppliers without climate targets or limited transparency on carbon accounting.This categorisation ensures that the emissions factors used better reflect the reality of our product mix and supply chain. Product composition across categories is comparable, with cosmetics and beauty products dominating (over 85% of goods); other categories such as electronics, clothing, and food supplements each represent less than 7%.For all categories, inbound transportation emissions are excluded to avoid double counting, as these are captured in Scope 3 – Category 4. Emissions are also adjusted for net inventory changes, based on capital-ised goods purchases.Scope 3 Category 2 Capital goodsThe Scope 3 Category 2 covers Matas Group's GHG emissions from the purchased capital goods. The spend-based method is applied for the category with data on corporate level.Matas Group acquires information on purchases of capital goods services from the Matas Group’ consoli-dated financial account and aligns with the definition of capital goods, however, excluding activation of spend on Matas Group staff and consultants and similar intangible assets.Capital goods purchases are consolidated in the financial statement to avoid double counting of Scope 1, Scope 2 and other Scope 3 category emissions reporting. The emission factors for purchases of capital goods are sourced from EXIOBASE ver. 3 based on best available category for the spend types. Scope 3 Category 3 Fuel and energy related activitiesThe scope 3 Category 3 covers Matas Group GHG emissions from Matas Group purchases of energy and follows from the reporting of the Scope 1 and Scope 2 emissions. Details on the description and methodology can be found in sections for Scope 1 and Scope 2 emissions on energy. Scope 3 Category 4 Upstream transportation and distributionThe Scope 3 Category 4 covers GHG emissions from transport of purchased goods for sale from suppliers to Matas and to end-points where customers receive purchased goods. The distance-based (average) method is applied for the category with data on a business unit level for inbound transport (from suppliers to Matas Group).Matas Group leverages information on the total weight of purchased goods for sale on a supplier basis. The transported distance is based on the direct road distance from each of the top 20 suppliers to Matas Group. The ton per km transport work for the top suppliers forms the basis of the estimation of the total Matas Group transport work covering all the goods for sale suppliers.The emission factor for the inbound transport work is based on a standard Lorry HGV emissions sourced from DEFRA (2023). The carbon emissions for the outbound transport work are compiled based on logistics suppliers’ information on the total transport work and the associated carbon emissions applying the suppli-er-based method for the category for outbound transport with data on an activity level.Matas Group's logistics suppliers submit information on transport work for the period on a business unit level. Some suppliers are not able to submit details on transport work. The emission factors are applied by the suppliers by submitting the Well-To-Wheel (WTW) and Tank-To-Wheel (TTW) total emissions for the period covering all Kyoto Protocol GHG emissions. Not all suppliers are able to submit both WTW and TTW total emissions. In those case the missing information is estimated based on the submitted supplier informa-tion.Scope 3 Category 5 Waste generated in operationsThe Scope 3 Category 5 covers Matas Group's GHG emissions from handling of waste generated during the operations. An average and waste treatment specific method is applied for the category with data on a busi-ness unit level based on waste treatment and waste type.Matas Group leverages information from suppliers on the total weight of waste by category and waste treat-ment method.The emission factor for the transport work related to waste handling is based on DEFRA (2023) waste handling emission factors. Scope 3 Category 6 Business travelThe Scope 3 Category 6 covers Matas Group GHG emissions from business travel. A supplier and a spend-based method are applied for the category with data on a corporate and business unit level.Matas Group's consolidated financial account regarding travel related expenses is applied in conjunction with supplier information on travel by air, car, rail and hotel, which is consolidated to avoid double counting. The category is compiled with a mix of the supplier based and the spend based methods on a business unit level.The emission factors are sourced from suppliers respectively from EXIOBASE ver.3. Scope 3 Category 7 Employee commuting This KPI accounts for emissions from employee commuting to and from work. The average data method is applied with data on a corporate level.This KPI has been calculated based on the commuting habits identified by EUROSTAT for Danish commutes. The statistics split the total number of employees of the Group between different mode of transports based on the commuting habits of Danish workers generally. An average distance of 28.1 km between workplace and the home of employees has been used to calculate the emissions generated by all employees across different transport modes as identified by  EUROSTAT . The average number of FTE in Matas Group is used as a measure for number of people commuting per workday and number of workdays per year is set at 222. The emission factors have been sourced from DEFRA for each of the following transport mode: car, taxi, van, motorcycle, bus, urban rail, train, cycle, walk. Scope 3 Category 11 – Use of Sold productsThis KPI accounts for the direct emissions from the use-phase of products sold by Matas Group. The average data method is applied with data on a corporate level.The metric is estimated based on the Matas Group records of total sales of goods by type. Each type of goods has been assessed and a category of goods with direct emissions – electronics – is identified. For the main category of units, a set of scenarios of usage and lifespan is estimated to assess the total expected electricity consumption during the use phase.  The emissions factor is the generic market-based emissions factors (Energistyrelsen).Scope 3 Category 12 End-of-life treatment of sold productsThe Scope 3 Category 12 covers Matas Group GHG emissions from end-of-life handling of sold products. An average method is applied for the category with data on a business unit level. This KPI accounts for emissions from the handling of products sold once they become waste. It is based on the weight of products sold and the total number of products sold to which assumptions have been made on: 80% of the mass is from packaging. 20% of the mass is assumed to be consumed, hence not generating any waste The type of material for the product’s packaging is based on “type” of products but not on an individual base. The waste treatment method has been assumed as no analysis on real-life practices has been conducted. The emission factors are sourced from DEFRA (2023) covering waste transport emissions to the treatment facility.The emission factors are sourced from DEFRA (2023) covering waste transport emissions to the treatment facility.Pollution is a material topic in the cosmetics industry due to the proximity of products to consumers. At Matas Group, we recognise the importance of product transparency to meet high safety standards. Consumers increasingly demand transparency and product qualities that exceed legal requirements, making it important for us to assess both consumer sentiments and regulatory demands to continue to be a trusted shopping destination.E2.IRO-1Processes to identify impacts, risks and opportunitiesTo identify pollution-related impacts, risks and opportunities, we have screened our site locations and business activities for actual or potential impacts as well as associated risks and opportunities across our value chain. This screening assesses whether our stores, offices, or warehouses emit material levels of water, soil, or air pollutants. Since Matas Group is not a production company, and we do not produce or manufacture products at our sites, no material emissions have been identified. We further examine our business activities to pinpoint potential pollution impacts within the upstream and downstream value chains and assess our dependencies on these activities. We have engaged with relevant stakeholders, following the process outlined in section SBM-2. In the beauty and cosmetics industry, pollution is significantly concerning the substances used in products and their emissions during consumer use, as reflected in our screening results.Our identified IROs are not covered by pollu-tion-related metrics required by ESRS E2 disclo-sures, as the IIROs are occurring in our upstream and downstream value chain, and , as per ESRS guidance, the metrics disclosed should reflect own operations and not include value chain data.   E2.SBM-3Material impacts, risks and opportunities  Matas Group has identified three negative impacts within its value chain:3   Product chemicals potentially polluting water during manufacturing and in the use phase.4   Potentially harmful chemicals and ingredi-ents absorbed by human bodies during use phase.5   Products may contain microplastics that can pollute water during production and in the use phase.The identified impacts focus on the poten-tially harmful effect of specific ingredients in cosmetics and beauty products. The EU Cosmetics Regulation governs how cosmetics and personal care products are made and placed on the market. The detailed regulatory framework requires cosmetics to be safe for human health by establishing rules for all cosmetic products made available on the market. The EU Chemical Agency (ECHA) and the EU Cosmetics Regulation frequently update the list of allowed chemicals and ingredients in beauty products, specifying permissible substances and dosages. However, some chemicals and ingre-dients are further monitored by for its potential impact on human health. Any changes to this list can result in prohibiting the use of specific ingredients or chemicals. The EU has furthermore banned the use of intentionally added microplas-tics, aiming to phase out microplastics altogether. Combining several ingredients or repeating expo-sure beyond normal or reasonably foreseeable conditions of use also has the potential to impact human health. As cosmetics and beauty products are manufactured using water and often washed off during the use phase, water going into the sewage systems will contain chemicals, ingredi-ents and potentially microplastics. E2-1Policies related to pollution At Matas Group, we have two policies which address the negative impacts in relation to pollu-tion. As the root cause of the impact happens in the upstream value chain when our suppliers manufacture the products, the impact must be tackled here with considerations to product safety. Our policies clearly state our requirements to our suppliers to protect the environment and human health when placing products on the markets, thus mitigating the potential negative impacts identified.Supplier Code of ConductTo promote these responsibility considerations of product safety, we expect that our suppliers comply to all product safety laws and regulations as well as minimise their impact on the environ-ment, as stated in our Supplier Code of Conduct. Furthermore, EU regulation governs our suppliers by the EU Cosmetics Regulation, requiring any producer of cosmetics products to perform a safety assessment and the required documen-tation of that assessment. Our Supplier Code of Conduct applies to all Matas Group’s suppliers with products for sale. Ingredients PolicyFor Matas Group’s in-house brands, we go beyond regulatory compliance when placing products on the market. In collaboration with our in-house brand suppliers, we have an Ingredients Policy that sets ambitious requirements for product formulation. In this, we have banned the use of PFAS, microplastics, triclosan, and parabens, among others. We prioritise relevant certifications whenever possible to assist customers when they navigate between products that align with envi-ronmental and chemical safety criteria. Matas Group monitors any changes concerning the safety of ingredients through our Regulatory Team. Any updates to our Ingredients Policy and our Supplier Code of Conduct take into account these changes, and we experience that our suppliers perform similar monitoring and product safety quality assurance. Our Executive Manage-ment Team is responsible for the implementation of both policies. As both our Supplier Code of Conduct and our Ingredients Policy are fundamental in the way to engage and collaborate with our suppliers and as such, by default mitigate the potentially negative impact, we have not defined a need to address these impacts by defined actions or targets. However, we will closely monitor the impact in dialogue with our suppliers. Water is a material topic for the cosmetic industry due to its essential role in product manufacturing as well as product formulations. At Matas Group, we do not manufacture products ourselves, but have suppliers with production facilities. As such, water is likewise a material topic for our biggest suppliers with whom we observe actions that actively mitigate water depletion. E3.IRO-1 Processes to identify impacts, risks and opportunities  The identification of water-related impacts in our own operations is based on as assessment of our actual water consumption across our own locations. Our screening of water risks in the upstream value chain focuses on water stress in the manufacturing areas of our largest suppliers, using third-party geospatial data to assess risk levels. Water scarcity poses a long-term risk, as manufacturing many products sold in our stores depends on the access to water. We have not yet conducted direct consultations with affected communities. E3.SBM-3Material impacts, risks and opportunities  Matas Group has identified one risk and one negative impact within its value chain: 6   Significant amounts of water used for product manufacturing in the value chain (negative impact).7   Water scarcity in the value chain  (financial risk).Water is an essential component in the beauty industry. It is featured as an ingredient in nearly all product formulations, and it requires significant water resources in the manufacturing process. The identified impact highlights the negative impact from water use occurring in the upstream value chain, where our suppliers withdraw signif-icant water resources when manufacturing their products. Our identified risk aligns with this impact, as water scarcity would risk the availa-bility of products for sale, which would impact the Group financially. Matas Group does not currently have policies, actions, or targets addressing impacts in relation to water and marine resources, as we are not a production company and we do not manufacture any products. Consequently, the identified impact occurs in the upstream value chain and should be addressed during our suppliers manufacturing process. However, we see that our suppliers invest in water loop production facilities and innovate with new product formulations to reduce water consumption in the use phase; initiatives that altogether address and have a potential to mitigate the identified impact and associated financial risk for Matas Group. We will continue to observe the identified impact and risk in close dialogue with our suppliers. Biodiversity is a material topic in the cosmetics industry due to its direct impact on the natural ecosystems from which many ingredients are sourced. Efforts to promote ecological balance and sustainable sourcing of ingredients will mitigate biodiversity impacts and ensure stability in ingredients sourcing. While we, at Matas Group, do not source ingredients directly, we recognise the need to oversee this impact and raise our knowledge on preservation in dialogue with our key supplies. E4.IRO-1 Processes to identify impacts, risks and opportunitiesTo identify our impact related to our operational sites, we have screened our stores, offices, and warehouses to assess whether they are placed in biodiversity-sensitive areas. On that basis we have not found any of our own or leased locations to be in or near biodiversity-sensitive areas.In assessing our dependencies on ecosystem services within the upstream value chain, we have focused on deforestation and associated systemic, transition and physical risks related to commonly used ingredients in products sold, such as palm oil. Although the cultivation and extraction of raw materials for beauty and cosmetics products have negative impacts and dependencies on biodiversity and ecosystems, they do not currently present material financial risks or opportunities for Matas Group. Since our negative impacts originate from the upstream value chain rather than our own sites, we have not consulted affected communities. E4.SBM-3Material impacts, risks and opportunities  Matas Group has identified one negative impact within its value chain: 8   Biodiversity impacts from extraction of raw materials.The impact originates from the extraction of raw materials for beauty product formulations. Cultivating bio-based ingredients can result in monocultures, adversely affecting biodiversity. However, within Matas Group's value chain, the main impact on biodiversity is deforestation due to sourcing specific ingredients, especially palm oil. Nearly all beauty products contain palm oil or its derivatives, which is also recognised from our suppliers as an issue with an actual negative impact on biodiversity if not sourced responsibly.E4-1Matas Group's resilience in relation to biodiversity and ecosystems Matas Group has not yet evaluated our busi-ness model and strategy concerning biodiver-sity and ecosystem-related physical, transition, and systemic risks. This decision is a result of our DMA assessment, which did not predict an immediate ecosystem collapse related to palm oil production nor the possibility that it will affect all our suppliers in the short-term. Additionally, we have assessed our warehouse and headquarters locations and confirmed that none are situated in biodiversity-sensitive areas. However, we continue to monitor biodiversity as a significant sustainability topic and track developments in deforestation regulations impacting the Group.As a result, Matas Group does not have poli-cies, actions, or targets addressing biodiversity and ecosystem impacts, as these arise in the upstream value chain and should be addressed during ingredient sourcing. However, in collabo-ration with suppliers of Matas Group's in-house brands, we have focused on RSPO certifications and mass balance for certain in-house brands. Addressing resource consumption and waste management is material when operating in the retail industry. At Matas Group, we recognise the environmental impact of our operations, when we procure materials for the distribution of products to customers and our stores. We aim to reduce resource use and waste streams within our operations and expect on our suppliers to innovate and reduce the ecological footprint of the products we sell.E5.IRO-1Processes to identify impacts, risks and opportunitiesThe identification of IROs related to resource use and circular economy begins with a screening of the resource inputs and waste generated at Matas Group sites. In considering IROs related to resource use and the circular economy, we concentrate on resource flows for products, product packaging, and the resources needed for our retail operations, albeit the resources used for shipping our products and goods to our stores, warehouses and our customers. Relevant stake-holders were engaged following our stakeholder engagement process, with internal subject matter experts serving as proxies for affected commu-nities. E5.SBM-3Material impacts, risks and opportunities  Matas Group has identified three significant negative impacts within its value chain:9   Resource use for products and products packaging.10   Product packaging waste.11   Waste from own operations.We acknowledge that the products we sell, sourced from our suppliers and value chain, contribute to resource consumption and waste streams. Many of these products impact both biological and technical resources, with most packaging being made of plastic. The use of virgin plastic and other virgin materials for packaging production has a substantial negative impact. However, some suppliers are exploring refillable options to reduce their products' impact. As a retailer operating in four Nordic markets, our business activities require resources to ship products to customers and generate waste when receiving products from suppliers and distrib-uting them to our stores. Currently, Matas Group does not have specific policies, actions, or targets to manage the identi-fied impacts on resource use and product pack-aging waste, as these impacts are primarily in the upstream value chain, beyond our control. Similarly, for the identified impacts tied to our own operations, we do not have policies, actions or targets in place. This is due to previous succesful initiatives, where we, at our warehouse locations, have increased the use of recycled and FSC-certified materials, and invested in smarter packaging systems that identify the smallest possible packaging solution, reducing both the shipping resources required and the waste gener-ated once the packaging is being disposed of.We will continue to monitor our resource procure-ment and waste impact to identify any emerging negative impacts. E5-4Resource inflows related to own operationsAt Matas Group, the resources used for our own operations are defined by the business in which we operate, and as the leading Nordic chain of beauty and wellbeing retailers, we likewise procure resources needed to deliver products to our customers, either through our e-com-merce platforms or to our stores. Consequently, the main resources procured are the cardboard, paper and plastic we use, when shipping prod-ucts and goods. The certification applied to our resource inflows are FSC and relevant for our procurement of paper and cardboard for our warehouse operations. E5-4Procured resources Ressource inflows Unit 2024/25Overall weight of resources procured Tons 1,990Share of biological material % 95- of which is certified % 83- of which is recycled % 66Share of technological material % 5- of which is certified % 0- of which is recycled % 48Overall weight of recycled resources procured Tons 1,300Overall share of recycled resources procured % 65Accounting policies The data scope aligns with Matas Group’s organisational structure and includes resource inflows—both descriptions and amounts. The data representing amounts comes from internal bookkeeping and procure-ment registers and the data for recycled and certified amounts comes directly from suppliers of the procured materials.  Matas Groups’ resource inflows describe resources needed to distribute products to our stores, or directly to our customers, through our e-commerce sites. The resources that flow into Matas Group’s own operations primarily comprise the following material types: •  Cardboard (biological material) •  Paper (biological material) •  Plastics (technical material) Other procured products: In the IROs identified in Matas Group's DMA are also the resource inflows used to produce the products the Group sell to its customers. However, as Matas Group is not a production company, with no production facilities, and only purchases products for re-selling to customers, underlining its retail role in the value chain, the current E5 standards only ask for data in relation to Matas Group's own operations. Thereby descoping the materials that Matas Group's suppliers are procuring and using in the making of their products.E5-5Waste related to own operationsAs with our resource inflows, our waste impact is also influenced by our business model. The waste streams relevant for our operations are that of the retail sector, where most of the waste we gener-ated is tied to our warehouse logistics and the waste generated from our employees. Warehouse logistic waste contains paper, card-board, plastic and is generated when we receive goods and products from suppliers to our warehouses. The waste streams at our stores and administrative offices are generated by our employees and constitute more as household waste. E5-5Waste   Unit 2024/25Total waste Tons 2,029Non-recycled waste Tons 913Share of non-recycled waste % 45Hazardous wasteTotal waste redirected from disposal Tons 0.38Preparation for recycling (reuse) Tons 0Recycling Tons 0.38Other recovery operations Tons 0Total waste disposed offCombustion (incineration) Tons 1.80Deposition (Landfill) Tons 0Other disposal operations Tons 0Total hazardous waste Tons 2.18Non-hazardous wasteTotal waste redirected from disposalPreparation for recycling (reuse) Tons 0Recycling Tons 1,115Other recovery operations Tons 0Total waste eliminatedCombustion (incineration) Tons 911Deposition (Landfill) Tons 0.15Other disposal operations Tons 0.20Radioactive waste Tons 0Accounting policies The data scope aligns with Matas Group's organisational structure. Data has both been modelled and sourced from direct measurements. Where data has been insufficient in coverage for all location, estimates have been modelled, however, based on available data from contracted waste collectors.   For Matas and Firtal, waste data has been extracted from the waste collector's customer platform. Data on waste fraction, treatment method, and quantity originate from the waste collector's order and invoicing system, which continuously collects activity data. All incinerated waste is used for heat or electricity, typi-cally comprising composite packaging types that cannot be recycled. Not all Matas stores are registered with the waste collector, as some use city center or municipal waste systems. For these stores, waste impact is estimated by calculating the waste per square meter from stores registered with the waste collector (total waste divided by total square meters) and applying this intensity to the square meters of unregistered stores. This estimate is then consolidated with the overall figures from the waste collector to ensure compre-hensive coverage.KICKS, waste data for HQ locations is sourced directly from the building’s facility management and allocated to KICKS HQ using an attribution key. No direct waste data is available for KICKS stores. Due to the similarity of goods sold in Matas and KICKS stores, waste impact for KICKS stores is estimated by applying Matas’ waste per square metre to the total square metres of KICKS stores. Waste data for the KICKS warehouse is provided by its contracted waste collector.Grænn’s waste data is estimated based on the manual waste handling process managed by the office facility manager, who transports waste to the recycling station. Calculations are based on the frequency of recycling center visits, with each visit involving approximately five pallets of 30 kg each.Assumptions It is assumed that this method to calculate the remaining stores is sufficient, as the square metre of the store describes the amount of products available for sale but also how many are working at the stores. Given that the primary waste impact from the stores is driving by the amounts of products shipped to the stores (cardboard and plastics) and the people in the stores generating everyday waste, this justifies the estimation methods applied.Due to the similarity in products for sale for Matas and KICKS stores, same waste intensity measure per square meter is applied to estimate the waste impact from the KICKS stores. At Matas Group, people are at the heart of everything we do. Our employees are critical for the success of the Group, and they support our businesses with a wide range of different functionalities and expertise. As an omni-channel retail company, most of our employees in the Group are employed in retail functions, either as store or warehouse personnel. They are critical for servicing direct customer needs. However, our Group functions also play a key role in realising our business strategy. S1.SBM-3Characteristics of own workforceOur full-time employees represent the majority of our workforce, however, we also employ for temporary positions across all markets, func-tions, and locations. Temporary employees cover employment due to parental leave, other leave, the need for specialised skills and rapid staffing. Temporary employees allow us to adjust our workforce according to fluctuations, such as during retail peak seasons. We see an increasing interest in temporary positions among the younger individuals, who value the adaptability these roles offer to align with their educational schedules or gap year plans. Our non-guaranteed hours employees are mainly employed in our warehouse and stores. This type of employment helps us to address urgent staffing needs for functionalities critical for preventing disruptions in business operations.  Regardless of functionality and expertise, we acknowledge that our employees are essential to our success, and we strive to offer everyone a safe and healthy workplace by addressing both actual and potential impacts within our operations. We do not have any operations or geographical areas where there is identified significant risk of incidents of forced labour, compulsory labour or child labor. S1.SBM-3Material impacts, risks and opportunities  Matas Group has identified 5 IROs divided by 2 negative impacts, 1 positive impact, 1 risk and 1 opportunity in our own operations:Working conditions12    Negative effect of poor working conditions (negative impact).13    High employee turnover and reputational damage (risk).14    Positive effect of good working conditions (positive impact).15    Maintaining and attracting employees and strengthening corporate brand image  (opportunity).Equal treatment and opportunity for all16    Unsuccessful policies for diversity and equal treatment and opportunities for all employees (negative impact).At Matas Group, we aspire to be a healthy and safe workplace where everyone can realise their personal and professional potential. As we create synergies and efficacy across our Nordic teams and cultures, we remain committed to create a working environment that remains the best place to be and grow. Our ambition plays out in a retail industry, where working conditions for our store employees are affected by increasing consumer conflicts, which creates an unpleasant work environment. Our warehouse staff endures greater physical demands due to the nature of their roles. As such, our store and warehouse employees are most affected by these systemic negative impacts. However, it also presents a financial risk for Matas Group if unmanaged poor working conditions lead to increased employee turnover and damages our reputation. The success of the Group relies on a strong employer advocacy, which helps us to attract the right talent. We also acknowledge the important role diversity plays in creating an inclusive and attractive work-place, enhancing our competitiveness and perfor-mance. However, failing to implement diversity policies can pose a potential negative impact on the very workforce for whom these policies aim to protect and ensure equal rights.Since 2023, we have led a training and develop-ment programme focused on nurturing personal and professional growth. By prioritising mental resilience and mental health, the programme positively impacts our employees beyond their careers. It equips them with skills and expertise that address professional challenges, while at the same time, nurture their personal development, supporting their overall well-being. All employees are subject to this training; however, we have initiated the effort targeted our employees that are customer-facing and hereby exposed to the identified negative impacts.   As a result of our industry leading development programme, improving working conditions also present an opportunity for Matas Group. Excellent working conditions have the potential to reduce employee turnover, consequently resulting in cost savings associated with losing, recruiting, and training new talent.S1-1Policies related to own workforce We have policies in place and internal guidelines that define how we ensure proper working condi-tions and equal treatment and opportunities for all our employees. As we have structures in place that actively mitigate the potential nega-tive impact and enhance the positive impact of working conditions, it has not been deemed necessary to develop external policies to address these. These are managed internally by the way we require our employee to behave, guided by internal employee handbooks and the health and safety organisation and system we have in place. We do, however, have external policies that address the impacts identified in relation to ensuring equal treatment and opportunity for all. Diversity PolicyOur Diversity Policy applies to all entities with the Group and outlines the Company's approach to enhancing diversity, particularly focusing on increasing the representation of the underrep-resented gender. The objective is to enhance the Group’s diversity in age, gender, nationality, ethnicity, experience, and education. It promotes an inclusive workplace that values diverse perspectives, boosts customer understanding, and builds a high-performing workforce. It guides our leadership teams in ensuring equal career opportunities and diverse application and recruit-ment processes. Human Rights PolicyHuman Rights Policy outlines our commitment to upholding human rights across our business, ensuring that our employees in their employ-ment are treated with respect for human rights. The Policy applies to all entities within the Group and outlines our commitment to human rights, including actively opposing corruption, supporting employee rights, eliminating forced and child labour, prohibiting discrimination, and prioritising a safe and healthy work environment. We adhere to the UN Guiding Principles on Busi-ness and Human Rights, the ILO Declaration on Fundamental Principles and Rights at Work, and the OECD Guidelines for Multinational Enterprises. The Policy details our stakeholder engagement and the process for remediation. Our Board of Directors approves our policies and annually reviews any potential updates. Our Executive Management Team is responsible for ensuring effective implementation of the policies.   Health and safety management systemsMatas Group’s health and safety system is based on its work environment organisation and repre-sents a structured framework of procedures, and practices designed to manage and minimise risks to the health, safety, and wellbeing of Matas Group’s employees. At the centre of the work environment organisation is a team of elected employees that focus on ensuring and improving the working environment. Through timely feed-back from alle employees, they identify, evaluate, and decide on improvements to procedures and structures to manage risks associated with the physical, psychological, and social conditions of the workplace. Their primary goal is to prevent accidents, injuries, and illnesses in the workplace.To prevent workplace accidents, we ensure proper onboarding and train our employees in tasks associated with potential risks. We assess areas that needs improved instructions through our workplace assessment and use aids and machinery wherever possible to minimise physical strain. We also record near-miss inci-dents and hold regular meetings with our health and safety groups to discuss and address any emerging issues, ensuring continuous improve-ment of our working environment.S1-2Engagement with own workforce At Matas Group, we have several effective processes for engaging with our employees about actual and potential impacts in our workforce. We maintain a range of systems to promote employee engagement, which is key to managing our workplace and environment. By leveraging this engagement and feedback, we can prevent poor working conditions and establish a workplace that promotes well-being among our employees. The Group's People and Culture Team leads our efforts and has operational responsibility for ensuring that engagement happens.At Matas Group, we do not have any agreements with our employees for representation with formal European work councils, as this is regulated by national law and agreed at national level.  Workers’ representativesMatas Group has structured its health and safety measures around the work environment organi-sations. These organisations play a crucial role in maintaining a healthy and positive working envi-ronment across various roles and departments. While Sweden, Norway, and Finland do not require the same organisational structure, they have robust legal frameworks and regulatory bodies, like the Danish regulations, to ensure employers maintain safe and healthy workplaces. Work envi-ronment representatives are elected for terms of two to four years, during which they complete the mandatory work environment course and partic-ipate in annual meetings and training sessions. At Matas Group, we engage bi-annually with elected representatives as part of a formal process to identify and manage workplace risks. In addi-tion, the names of our elected representatives are communicated to the entire organisation, ensuring our employees have visibility and knowl-edge of this means to engage on work environ-ment matters.Trade unionsAt Matas Group, some employees in Denmark are represented by trade unions, and all employees in Sweden, Norway, and Finland are covered by them. These unions advocate for employees' interests, working conditions, employment terms and fair treatment. In all our markets, we have trade union representatives with whom we engage monthly, depending on their role and function.Engagement with worker representatives, including trade union and safety representa-tives, extends beyond formal processes and annual schedules. At Matas Group, it is part of our daily operations to address potential and actual impacts proactively or reactively, should the need for engagement arise. We recognise the engagement from our workers’ representatives and ensures that their input will influence Matas Group’s work to create a responsible workplace. All workers’ representatives are protected by special statutory regulations that safeguard their employment. This includes protection against dismissal, ensuring they cannot be terminated due to their role as an employee representative.Workplace assessmentAs part of the national legal requirements, Matas Group has workplace assessments (APV) in place to ensure a systematic review of the work environment to identify and evaluate risks to employees’ health and safety. The purpose is to ensure safe working conditions by identifying risks, assessing their severity, developing an action plan, implementing improvements, and continuously evaluating effectiveness. Through our APV, our employees are required to evaluate their workplace and their feedback if captured for further improvements. The APV functions as a formal and recognised way to engage with our employees about maintaining a safe and healthy work environment. Populum – employee satisfaction surveysAt Matas Group, we have quarterly employee satisfaction surveys to capture the employee satisfaction and any other relevant feedback affecting the overall satisfaction with the Group. The survey ensures engagement with our employees and seeks to identify our employees’ satisfaction with our working conditions.   The engagement processes we have in place encompass all our employees, ensuring that we capture perspectives from those more vulnerable to negative impacts, such as our warehouse and store personnel. We continuously assess and evaluate the effectiveness of these engagement processes by analysing the development of feed-back received from our employees.S1-3Process for providing remediation for own workforce  To effectively provide or cooperate in remediation for our workforce, we have established a compre-hensive process which follows the process set out in our Human Rights Policy. The process begins with assessing employee grievances through regular monitoring and feedback mecha-nisms, such as our Whistleblower Scheme, digital workplace assessments, employee satisfaction surveys, open-door culture, feedback sessions and confidential engagement with our HR depart-ments. Any issues raised and addressed through these channels are tracked and monitored by our People and Culture departments and our Group Legal department. They also ensure that the effectiveness of the channels is continuously evaluated based on the nature of the registered issues. Through the structures and processes which invites employees into dialogue our People and Culture departments and Group Legal department assess if employees are aware of, and trust, the possibilities to raise their concerns. In case we identify severe incidents where the Group needs to provide or cooperate in remedia-tion for our employees, we follow a formal process lead by our Group Legal department:1.   Assess the extent of the impact and identify affected stakeholders, 2.  Map the course of the negative impact to understand the incident, and3.    Initiate actions to correct the impact to mini-mise the risk that Matas Group is, either directly or indirectly, implicated in similar cases. Whistleblower SchemeUnder our Whistleblower Scheme, our employees may submit anonymous or non-anonymous reports – made in good faith – of concerns they may have about serious matters affecting our workplaces. The Scheme covers all employees employed by the Group and is internally commu-nicated on an ongoing basis and as part of the onboarding process. All concerns raised in good faith are safeguarded against harassment and victimisation because of the report. If a person chooses to disclose their identity when reporting a concern, we will treat the report with confidentiality to the highest extent possible.Our Whistleblower Scheme and Whistleblower Policy are described in detail under our Business Conduct section, in relation to our disclosures on corporate culture.  S1-4Actions and resources related to own workforce   At Matas Group, we have had several actions through the financial year to manage our impacts and continue to deliver attractive workplaces.  Digital workplace assessments providing timely feedbackDuring the financial year, we have updated our workplace assessment (APV) at Matas stores in Denmark, enabling timely evaluation of our working conditions. The APV has previously been an analogue assessment, which meant that the time from reporting to the correction of the reported matter could risks prolonging any improvements needed. Through a fully digitalised and systematic process, we can now receive assessments of the workplace, evaluate, and improve the work environment at our stores even faster. This helps us to identify and assess actual negative impacts and implement solutions that can enhance our employees’ safety and well-being. For the coming financial year, we will assess if similar is needed to improve the working condi-tions of our KICKS stores. Inclusive business practicesSince 2015, we have in Denmark, supported Project KLAP, an external initiative dedicated to integrating individuals with cognitive disabilities into the workforce. KLAPjob is an employment initiative run by the association Lev, offering subsidised and flexible job opportunities for people with developmental disabilities and other cognitive challenges. The programme supports individuals with conditions such as autism, ADHD, cerebral palsy, epilepsy, muscular dystrophy, or acquired brain injuries, helping them access and participate in the mainstream labour market with the necessary support.Through our partnership with KLAPjob, we employ KLAP participants who may require additional support due to their disabilities, enabling them to make meaningful contributions without the constraints of a standard 9-to-5 schedule. This collaboration not only enhances the well-being of our valued employees with special needs but also reinforces our commitment to equal rights and opportunities for all. In the current financial year, we have employed 26 individuals through the KLAP project. This partnership is ongoing, meaning that this action is without end date.  Pioneering professional developmentSince 2023, we have collaborated with True North to target our training and development programmes to mitigate the societal challenges our employees face in terms of mental health perseverance. The purpose of the partnership is to fundamentally change how we perceive professional development and personal growth at Matas Group. What started as a tailored mental health resilience programme for all new Matas trainees has now become the overall approach for how we provide our employees with the best tools and capabilities to grow and excel as part of their employment. During the financial year, we increased the numbers of employees who have had specific mental health training to 586, and we have had 10 training sessions in total. Further-more, the programme's proven success was further rolled out to our other Nordic markets, with KICKS headquarter being the first location with similar training. For the coming financial year, we will focus on mental health training for the employees in our stores, where we can see this training has the potential to mitigate the systemic negative impacts affecting our employees. This is an ongoing partnership, and as such this action is without an end date. Tracking the effectiveness of our actionsWe assess the effectiveness of our actions quar-terly through a third-party employee satisfaction survey that anonymously measures the overall job satisfaction. We track the effectiveness of our policies and actions as we define the contents of the questionnaires and ensure that it is set up to gain insights of the actions we have initiated to improve on our identified IROs. Upon receiving input from our employees, we meticulously analyse all negative outliers to identify potential challenges and determine appropriate mitigating actions.For the financial year, we have not taken any action needed to provide or enable remedy in relation to actual material impact, as no such cases have been reported.Resources allocated to management of material impactsAt Matas Group, we address our key material impacts through our operational practices. This means that the actions we define to manage and mitigate our material impacts are integral to our management framework. As we have worked with True North since 2023, this way to approach professional development is now considered into the training and development of our employees. Although, we have not allocated additional signifi-cant resources this financial year to manage these impacts, our deep understanding and awareness allow us to continually enhance our practices to effectively manage and mitigate them.S1 .MDR-TTargets in relation to own workforceWith our new ESG strategy, we have during the financial year set two targets focusing on our employees’ development. As we aspire to pioneer mental health, we want to set an example for how companies can support employee wellbeing. Our approach integrates training and development that goes beyond job-related skills to also foster personal growth and mental resilience, making these just as important as professional expertise.Mental health training targetOur target is to maintain on average a yearly Net Promoter Score of 50 on our mental health training programs by 2027/28. The Net Promoter Score (NPS) is a commonly used indicator used to record satisfaction. For all our mental health training sessions we ask our employees to score the training against the NPS score methodology, as we believe this gives a qualified assessment of our employees’ satisfaction with the training courses, but also its relevance in relation to supporting their mental health resilience and the applicability of the outcome of the sessions. This absolute target addresses the identified positive impact in relation to working conditions. The scope of the target is all employees that have taken any mental health training, and as we continue to target even more employees with this training, we expect the population to increase year-on-year. The NPS baseline on our mental health training is 70.    Employee engagement targetIn the coming financial year, we will introduce mental health questions into our employee engagement and satisfaction survey to measure the effect of our strategic initiatives that is focused on employee wellbeing and mental health training. Our target is to achieve an annual mental health survey score of 70 by 2027/28. We believe that this target reflects our strong focus on our employees’ wellbeing and guides our work to ensure good working conditions consequently mitigating the identified negative impact and risk in relation hereto. The scope of the target is Matas and KICKS employees. Currently, as we have not introduced the mental health questions into our existing engagement survey, the baseline scoring is 0. We believe that the NPS and employee satis-faction score are helpful indicators and useful management tools to gauge how our actions planned and taken can improve the Group’s overall working conditions and development possibilities. Monitoring progressThe targets are reviewed and any progress against these assessed whenever NPS score training results and the employee satisfaction score are received, by our People and Culture departments. As this financial year 2024/25 is our baseline year, we are not reporting on our progress to meet our targets, however, this will be reported annually.   Accounting policyEntity Specific Mental Health NPS scoreThe NPS score is measured as the average NPS score, based on all mental health training programmes for the reported year. Entity Specific Engagement Survey scoreThe score is measured based on Matas Group's annual engagement survey, that includes mental health questions. As this survey is conducted annually, the score is only based on this survey.   S1 Ent. Spec. 1 Mental Health NPS score Unit 2024/25Net Promoter Score on mental health training Score 65S1 Ent. Spec. 2 Engagement Survey scoreAnnual score on mental health engagement survey Score 0S1 .MDR-TMental health targetsProgress Target Unit Type of target Baseline year Baseline Target year Target scoreagainst targetEmployee engagement - Achieve an annual Mental Health Score of 70 Score Absolute 2024/25 0 2027/28 70 0Mental health training - Maintain an annual Net Promoter Score of 50 Score Absolute 2024/25 65 2027/28 50 0S1-6Employee headcount by gender Gender Unit 2024/25Male Headcount 526Female Headcount 5,717Other Headcount 0Not reported Headcount 0Total employees 6,243S1-6Employee headcount by countryCountry Unit 2024/25Denmark incl. Faroe Island Headcount 3,533Sweden Headcount 1,701Norway Headcount 762Finland Headcount 247Accounting policies HeadcountThe total number of employees, including all contract types, excluding interns and consultants. The data reflect Matas Group headcounts as per 31 March 2025. The most representative number found in the finan-cial statement is FTE disclosed. This can be found in the section '5-year key financials', page 14.  S1-6Headcount by contract type and gender2024/25Not Contract type Unit Female Male Otherdisclosed TotalNumber of permanent employees Headcount 4,097 475 0 0 4,572Number of temporary employees Headcount 953 30 0 0 983Number of non-guaranteed hours employees Headcount 667 21 0 0 688Total number of employees Headcount 5,717 526 0 0 6,243Accounting policies Employee contract typesEmployees on permanent contracts include all employees without an end-date. Employees on temporary contracts include all employees on time-bound contracts. All our Matas' materialist students and employees under the age of 18 are by default registered as time-bound contracts, as per national law in Denmark. Non-guaranteed hours are employees employed on an hourly basis. The data reflects Matas Group head-count, per contract type as per 31 March 2025. Number of people who have leftEmployees who have voluntarily left, been dismissed, retired, or died, excluding interns and consultants. The data is aggregated for the full financial year 2024/25.   S1-6Employee turnoverUnit 2024/25Employee turnover ratio % 35Employee turnover Headcount 2,203Accounting policies Turnover Turnover is calculated by the number of people who have left, aggregated for the full financial year, divided by the total reported headcount.S1-8Collective bargaining and social dialogueCollective bargaining coverage Social dialogueWorkplace Employees – Non-EEA representation (EEA Employees – EEA (for (estimate for regions only)countries with &gt;50 with &gt;50 empl. (for countries with &gt;50 empl. representing representing &gt;10% empl. representing Coverage rate&gt;10% total empl.)total empl)&gt;10% total empl)0-19%20-39%40-59%60-79% Denmark80-100% Sweden, Norway, Denmark, Sweden, FinlandNorway, FinlandAccounting policies Collective bargaining agreementsPercentage of all types of employees covered by bargaining agreements. Number of headcounts covered by collective bargaining agreements, divided by total number of headcounts.Workers representativesPercentage of employees covered by workers representatives. Number of headcounts represented by workers representatives, divided by total number of headcounts.Workers representatives include trade union representatives and other work representatives that are elected by the workers of the Group, as part of their engagement in the work environment organisation.. S1-9Gender distribution at top management levelUnit 2024/25Executive Management TeamTotal number # 7Female # 3Male # 4Share of female % 43Accounting policies Percentage of women in Matas Group top management level. Share of women based on number of women at each level, divided with the total number of members at each level. Matas Group Executive Management Team is the Group's top management level and consist of the Group CEO, Group CFO and EVPs across Group business functions and Matas and KICKS banners. For more infor-mation on the Executive Management Team, see page 44-46  in the section 'Corporate governance'.  S1-9Employee by age groupUnit Denmark Sweden Norway Finland TotalEmployees under 30 years old Headcount 2,272 913 482 181 3,848Employees between 30 and 50 years old Headcount 858 601 211 62 1,732Employees over 50 years old Headcount 403 187 69 4 663Accounting policies Employees by age group by 31 March 2025.S1-10 Adequate wages All Matas Group employees are paid an adequate wage, in line with applicable benchmarks. For applicable benchmarks the national benchmarks are applied to our assessment. S1-14Health and safety management systems, fatalities, accidentsHealth and safety Unit 2024/25Percentage of own workforce covered by the health and safety management system % 100Number of fatalities in own workforce  # 0Number of fatalities other workers # 0Number of work-related accidents # 52Incidents per  Rate of recordable work-related accidentsmillion hours 8.03Accounting policies Health and safety management systemsPercentage of employees covered by Matas Group’s health and safety management systems, as described under S1-1 (health and safety management system). Number of headcounts covered by health and safety management systems, divided by total number of headcounts. FatalitiesThe number of Matas Group employees, and contracted employees not considered a Matas Group employee, who have lost their lives because of a work-related incident at Matas Group. AccidentsNumber and rate of registered work-related accidents. Rate is calculated by dividing the number of acci-dents, by the total number of hours worked, based on the number of FTEs in Matas Group's workforce, and then multiplied by 1 million. S1-16Gender pay gap, CEO remuneration ratioPay gap Unit 2024/25Gender pay gap % 43%Note: Annual total remuneration ratio is disclosed on our Remuneration Report.Accounting policies Gender pay gapGender pay gap is calculated by difference in average pay between employed men and women. It is calcu-lated by compiling the gross hourly pay level for men and women, respectively, in local currency, across all Matas Group markets. All pay levels are then calculated to local currency (DKK) to consolidate to an average men and women pay levels, before dividing the difference with the men hourly pay level.For the coming financial year, we will identify relevant entitiy specific gender pay gap data points to provide the most representative data set for the Group.   S1-17Incidents of discrimination, human rights issues and incidentsIncidents and complaints Unit 2024/25Number of incidents of discrimination # 0Number of complaints through own channels to raise concerns # 0Number of compliants through National Contact Points for OECD Multinational Enterprises # 0Total number complaints # 0Total amounts of compensation, fines and penalties from registered compliants/cases DKK 0Number of human rights issues and incidents connected to own work force # 0Number of human rights incidents subject to breach of UNGP and OECD guidelines # 0Total amounts of compensation, fines and penalties from registered human rights incidents. # 0Accounting policies The total number of incidents of discrimination, including harassment, the number of complaints filed through channels for Matas Group employees to raise concerns (Whistleblower Scheme, Open-door culture, confidentital engagement with People departments, workplace assessments) aggregated in the financial year 2024/25  and the total amount of fines, penalties, and compensation for damages as a result of the incidents and complaints disclosed, and a reconciliation of such monetary amounts.In Matas Group, we are connected to workers in our value chain by the agreement with our many suppliers. Ensuring their basic human and labour rights, fair treatment, and safe working conditions remains a condition for doing business with the Group. We leverage our influence through these requirements to support positive social impacts across global communities.    S2.SBM-3Material impacts, risks and opportunities Matas Group has identified two material potential negative impacts related to workers in the value chain:17    Poor working conditions in the upstream  value chain. 18    Work-related rights in the raw materials  extraction phase. In general, Matas Group’s Tier 1 manufacturers of cosmetics, beauty and health products offer good working conditions. Their ways of working are technology and innovation driven with most work being conducted in labs and production sites. However, for Tier 3 suppliers, and espe-cially suppliers of mining or agricultural raw materials such as palm oil, there has historically been reports about poor working conditions with different risks identified. We consider working conditions a human rights issue as defined in the UN’s Universal Declaration of Human Rights. The fact that we rely on multiple Tier 1 suppliers, which subsequently have many Tier 2 and Tier 3 suppliers, makes the severity assessment of potential impacts in the value chain increasingly complex. Matas Group has a relatively small demand of products in several supply chains, i.e. we can potentially have many smaller impacts through our purchase orders. When assessing the impact severity, we try to account for the fact that we can choose to discontinue purchasing products of a supplier known to have violated human rights by replacing the product with a substitute from another supplier. In the assessment of Matas Group’s IROs related to value chain workers, we have included all workers throughout the value chain, especially focusing on the upstream and our suppliers and sub-suppliers. The value chain workers who are potentially negatively impacted in the Group’s value chain are not operating at our sites but work for entities in our upstream value chain involved in the extraction of raw materials or manufac-turing of the products sold in our stores and on our e-commerce sites. For workers in our Tier 3, we currently do not hold detailed informa-tion about the exact working conditions as this is an extremely wide net of our many suppliers’ sub-suppliers and sub-sub-suppliers across many geographic areas. We acknowledge that there is a risk of child labour and forced labour amongst the workers in the raw materials extraction phase of the product ingre-dients in the Global South, but no cases directly linked to our products sold have been reported to us at this time. The potential negative impacts represent a systemic issue for the industry.     Through dialogue with our suppliers and through our Amfori BSCI membership, we will make efforts to improve our knowledge of the workers in our upstream value chain to make sure our actions align with the actual circumstances. S2-1Policies related to value chain workers Matas Group has an established Human Rights Policy and Supplier Code of Conduct to manage our impacts related to workers in the value chain. Supplier Code of ConductOur Supplier Code of Conduct directly targets our Tier 1 suppliers, in our upstream value chain, and clearly sets the standards, we expect our suppliers to adhere to. This covers the obligation to ensure the health and safety of our suppliers’ employees, to ensure diversity, inclusion, and the protection from harassment for all employees. In addition, they must prohibit child and forced labour, adhere to laws on working conditions, and respect employees' rights to unionise. Suppliers should also ban all forms of modern slavery and human trafficking. Human Rights PolicyOur Human Rights Policy extends throughout the supply chain and is an obligation in our Supplier Code of Conduct. As such, the identified negative impacts present with Tier 2 and Tier 3 suppliers are targeted by our Human Rights Policy, indirectly forwarding the responsibility for our suppliers to address this impact in their extended value chain. Matas Group's Human Rights Policy is applicable to all entities within the Group, and outlines our human rights commitment, actively opposing corruption, supporting employees' rights, elim-inating forced and child labour, prohibiting discrimination, and prioritises a safe and healthy work environment. We follow the UN Guiding Principles on Business and Human Rights, ILO Declaration on Fundamental Principles and Rights at Work and OECD Guidelines for Multinational Enterprises. Our Human Rights Policy addresses the elimination of all forms of forced or compul-sory labour and exploitation of child labour, and it describes our stakeholder engagement and the remediation processes in place. As reported in S1-17, no human rights breaches have been reported during the financial year 2024/25. The responsibility for the implementation of both policies is placed on our Executive Management Team. S2-2Processes for engaging with value chain workers Currently, we do not engage directly with value chain workers but are closely communicating and engaging through supplier dialogues and through our membership with Amfori BSCI. Perspec-tives of value chain workers are reflected by our suppliers and Amfori BSCI as credible proxies. Additionally, in Matas Group, we have estab-lished a Whistleblower Scheme that provides a safe mechanism for any stakeholder to address concerns, including suppliers and workers in the value chain. Any reports may be filed anony-mously, and we closely monitor any inquiries and use these for continuous improvements.S2-3Processes to remediate negative impacts for value chain workers An important component in our strategy to prevent and manage negative impacts in the supply chain is to establish long-term relation-ships with our suppliers. Matas Group sets clearly defined requirements for all suppliers as spec-ified in our Supplier Code of Conduct, and the Whistleblower Scheme supports the process for providing remedy. Furthermore, we have remedi-ation mechanisms and improvement measures in place as described in our Human Rights Policy. We adhere to the following process as far as possible to ensure appropriate remediation: 1.   Assess the extent of the impact and identify affected stakeholders, 2.   Map the course of the negative impact to understand the incident, and 3. I nitiate actions to correct the impact to mini-mise the risk that Matas Group is, either directly or indirectly, implicated in similar cases. Matas Group assesses the effectiveness of the remediation mechanisms by monitoring the use of our channels and the type of inquiries we receive. Our Whistleblower Scheme is open for anyone to use with protection against retaliation. In addition to this, both our Whistleblower Policy and Human Rights Policy state the respect and protection against retaliation for anyone that uses Matas Group channels to raise concerns. For more detail on our Whistleblower Policy, see the Business Conduct section of this Sustainability Statement. For the coming financial year, we plan to initiate an assessment of the awareness and trust of the channel among value chain workers. S2.MDR-AActions in relation to workers in the value chain   In 2024/25, we have signed to become members of Amfori BSCI, a human rights due diligence plat-form that provides a recognised methodology for identifying and remediating risks in value chains. For the coming year, we will apply this member-ship to increase our knowledge of the negative impacts potentially occurring and affecting workers in our value chain. This action will have no end date, as we believe this to be the way we can strengthen the require-ments for responsible business conduct in our supply chain, and our membership will help us to engage with our suppliers and partners regarding impacts on workers in the value chain. We acknowledge our responsibility and cooperate with business partners who also acknowledge theirs, and in the long-term perspective, we aim to have detailed information about our supply chain, from raw material to finished product. S2. MDR-T Targets in relation to workers in the value chainMatas Group does not currently have specific targets in place that address negative impacts on workers in the value chain. Our current knowl-edge does not provide sufficient information about negative impacts on working conditions or work-related rights in the value chain and there-fore, we will need to establish a stronger foun-dation of knowledge before potentially setting targets. As part of our membership with Amfori BSCI we will closely monitor our IROs and through BSCI reports track the effectiveness of our policies and future planned actions.  As the leading Nordic retailer of beauty and wellbeing products, Matas Group caters to most consumers in Denmark, Sweden, Norway, and Finland. Our product portfolio attracts all consumers, as it offers a wide range of products, relevant for all life stages. As such, we recognise that our biggest responsibility is to ensure that our business conduct and practices do not do harm on our most important stakeholders; the customers we serve with our products and advice. S4.SBM-3Material impacts, risks and opportunities  Matas Group has identified 7 IROs, divided by 2 positive impacts, 3 negative impacts and 2 risks in its own operations and downstream value chain:Product transparency and safety:19    Providing quality product information and guidance for customers through Matas Group communications channels (positive impact). 20    Misinformation of products impacting the health and safety of customers  (negative impact).21    Misinformation of products affecting Matas Group's reputation as a trusted retailer (risk).Non-discrimination of customers:22    Excluding selected customers due to limited assortment (negative impact).23    Including and empowering diverse customer groups in overall marketing efforts (positive impact).Data privacy and security:24    Exposure of sensitive customer data from Matas Group's loyalty clubs (negative impact).25    Regulatory fines and reputational damage (risk).Matas Group serves a broad range of consumers, due to our national coverage in the markets, we operate in and our product portfolio. The prod-ucts sold and distributed throughout the Group are relevant for all consumer groups, as they correspond to needs and wants throughout the consumers’ lifetime: From beauty products, vita-mins, and supplements to exercise equipment, bandages, and hygiene products. This makes the product and transparency impacts in scope for all our consumers and the impact widespread. Product transparency and safetyAs a retailer of products with complex ingredi-ents, we ensure consumers have access to quality information both in our stores and on our e-com-merce sites. Certifications and product labelling guide consumer choices based on allergies, skin conditions and other preferences. Our in-house brands prioritise certifications, as these third-party recognitions provide consumers with clear and accessible product information, enabling them to make informed decisions. Recent focus on the possibility of PFAS in cosmetic products has raised consumer awareness. While many suppliers already have eliminated PFAS from their products, certifications like the Nordic Ecolabel provide a clear assurance that a product is free from PFAS.There is a continuous need to monitor the changes in product regulations and requirements on product information. Products need to include the right labelling for the consumer to be able to make an informed choice. However, not providing correct and quality information for consumers can impact their health and safety. The risks of lacking quality information and misinforming about the products we sell can pose as a reputa-tional risk where Matas Group no longer provides trusted shopping destinations.Data privacy and securityMaintaining GDPR compliance and safeguarding our customers’ privacy is essential for us as we hold personal data on our many loyalty members in Club Matas and KICKS Club. As such, we are exposed to cyber security threats, making cyber-crime an ongoing high risk for the Group. Addi-tionally, non-compliance with GDPR can result in fines of up to 4% of revenue, posing a significant financial risk. Likewise, a breach in data secu-rity would damage our reputation, but it would also compromise data privacy and security and severely impact customers through potential exposure to profiling and discrimination. The consumer groups that are most affected by the data privacy and security impacts, are our primary consumer groups aged 16 and up, as this is the age requirement to become loyalty club members. Non-discrimination of consumersPromoting a beauty and wellbeing ideal that represents individuals of various ages, ethnic backgrounds, body types, skin-colour, and skin conditions positively impacts people. With a strong presence in the Nordics, Matas Group has a possibility to significantly influence consumers with its responsible marketing practices. However, failing to offer a product range that meets the needs of Matas Group's diverse consumer base could negatively affect consumer inclusion, as they may find limited availability of products suited to their needs. The impacts in relation to non-discrimination of customers are mostly affecting customer minority groups, where their product needs are less represented in the assort-ment we carry, making the impact less wide-spread. S4-1Policies-related product transparency and safety At Matas Group, we believe that our consumers should be able to have trust in the products we sell at every consumer touch point we have. Our Supplier Code of Conduct and our in-house brand Ingredients Policy are both targeted to ensure a high level of product transparency and safety, and as such, aiming to mitigate the iden-tified negative impact and financial risk and to leverage the positive impact on the consumers and end-users. Supplier Code of ConductMatas Group’s Supplier Code of Conduct requires our suppliers to ensure that every beauty and health claims and sustainability claims used in the marketing of their brands and products comply with EU law. The objective is to ensure the quality and credibility of the product information on Matas Group's shopping destinations. The Code apply to all Matas Group suppliers. Ingredients Policy for in-house brandsMatas Group’s Ingredients Policy sets out guid-ance for which ingredients are accepted and forbidden in the development of the Group’s brands. It applies to our in-house brand suppliers, who are responsible for manufacturing our brands. The objective with this requirement is to go above and beyond what is regulated by law, giving consumers the necessary information to base their purchase decisions on more informa-tion that can be relevant for their decision making. The Policy applies to all Matas Group in-house brand suppliers. Our Supplier Code of Conduct and our Ingredi-ents Policy address the impact in the upstream value chain enabling us to make a positive impact in our own operations targeted at the consumers in our downstream value chain. Our Executive Management Team is overall accountable for the implementation of both Policies.  S4-1, S4-4Policies and actions related to non-discrimination of consumers Matas Group does not have any policies related to non-discrimination of consumers, nor have we had any actions in this financial year related to this impact. We regularly update our product portfolio and strive to have products and brands in our assortment that are relevant and cater to the needs of our customers. We prohibit the use of retouching on Matas and KICKS marketing material to practice social inclusion of consumers in our marketing practices and hereby support the creation of a beauty and wellbeing universe where our consumers feel represented.   S4-1Policies related to data privacy and security At Matas Group, we ensure data protection and integrity by our Data Privacy Policy and Data Ethics Policy. These Policies comply with regula-tions but also ensure ethical consideration when using personal data. The Policies seek to mitigate both the potential negative impact on consumers in the downstream value chain and the finan-cial risk in Matas Group’s own operations. The scope of both policies applies to all Matas Group employees. Our Group Legal and IT departments monitor the effectiveness of the Policies, with oversight by our Executive Committee which is overall accountable for the implementation of the Policies. Data Privacy PolicyMatas Group's Data Privacy Policy specifies how customer data is collected, stored, accessed, and used, including legal grounds and third-party sharing. It also covers customer rights, complaint processes, and data deletion guidelines. The objective of the guidelines is to safeguard personal data. Data Ethics PolicyMatas Group’s Data Ethics Policy holds our commitment to ensure the ethical use of data and new technologies. The Policy objective is to ensure that personal data is processed with ethical integrity. Access our policy here: matasgroup.com/governance/policies/  We believe that the right to privacy is a funda-mental human right. Our Data Privacy Policy and Data Ethics Policy directly exercise consumers rights by ensuring the right to privacy and align with the United Nations (UN) Guiding Principles  on Business and Human Rights. S4-2Processes for engaging with consumers and end-users Our customer service teams are designed to cater to every request and question that comes from customers. This engagement plays a crucial role in understanding and detecting consumers’ views, sentiments, and interests. It is through this engagement that we understand how our actions serve our customers, but also when our prac-tices have adverse effects we need to reverse. Our customer service teams are daily in dialogue with customers, providing information about the products we sell, our membership services and our sales offering, among others. They are also in dialogue with potentially marginalised consumers, who experience that the product offering does not cater to their needs and wants. We are atten-tive to this feedback, as this also shapes our future product offering and marketing practices. In addition, Matas Group also considers the views and interest of country specific independent organisations that are dedicated to protecting consumer rights.As such, our customer service teams represent the voice of the consumers and relay this infor-mation to the relevant parts of the organisation, so that we, as a Group can improve our busi-ness practices and still be relevant for our most important stakeholders. Matas Group’s Executive Management Team has the overall responsibility that our customer service teams have the means to engage with consumers in a respectful and dedicated manner.  S4-3Process for remediation of negative impactsMatas Group has a third-party Whistleblower Scheme for anyone wishing to report suspected misconduct, violations of the Group's policies or applicable laws, and fraud. Our Whistleblower Scheme presents the opportunity for consumers to raise their concerns anonymously, protecting them from retaliation. In addition, we have a Whistleblower Policy in place to protect individ-uals from retaliation when they make use of our processes to raise concerns. We believe such scheme is part of a strong corporate governance and even though we do not require the availability of such channels by our business relationships, we strongly encourage this. Our Whistleblower Scheme is made available on Matas Group’s website. Our Whistleblower Policy is described in the Business Conduct section of this Sustaina-bility Statement. In the event of a reported incident which has caused and contributed to a material nega-tive impact on our customers, consumers or end-users, the process for remediation begins and follows the same stringent approach as observed with breaches of human rights. We eval-uate the impact, identify affected stakeholders, trace the incident, engage in remediation if necessary and take corrective actions to prevent future events.   Our Group Legal department ensures that processes for providing or facilitating reme-dies are available and effectively implemented. They evaluate past events to assess both the outcomes and management processes, iden-tifying any necessary changes to our current procedures. Their evaluation also assesses whether our customers, consumers and end-users are aware of and trust structures or processes as way to raise their concerns. They do this by evaluating if our Whistleblower Scheme is used in general, and for such purposes. S4-1Matas Group’s human rights commitments in relation to consumers and end-usersAt Matas Group, we are committed to operating with respect to human rights in our own oper-ations and across our value chain. Our Human Rights Policy holds our commitment to uphold and respect human rights and ensures compli-ance with the UN Guiding Principles on Business and Human Rights, ILO Declaration on Funda-mental Principles and Rights at Work or OECD Guidelines for Multinational Enterprises.  Consumer rights are human rights and must be treated as such. Through our formal Whistle-blower Scheme and dedicated customer service teams, we provide the necessary processes and mechanism for engagement with consumers and monitoring compliance with consumer and human rights. As previsouly reported in S1-17, no cases of non-respect of the UN Guiding Principles on Business and Human Rights, ILO Declaration on Fundamental Principles and Rights at Work or OECD Guidelines for Multinational Enterprises that involve consumers and/or end users have been reported in the downstream value chain for the financial year 2024/25. S4-4Actions and resources related to product transparency and safety   At Matas Group, we want to ensure that the customers we serve have access to high quality information and expertise about the products we sell. This is achieved by training our employees in product knowledge, our prioritisation to certify our in-house brands and setting requirements for our suppliers to ensure correct and accurate product information.   Training in ingredientsConsumer facing employees undergo specific training targeted at providing high quality guid-ance and product information. The training covers understanding the role and benefits or different ingredients, including how they contribute to product efficacy and consumer safety. It also helps our employees identify common aller-gens and understand their potential impact on consumers, enabling them to provide better guidance for sensitive skin types. The training empowers our employees to promote trans-parency and effectively communicate product benefits to our customers. During the financial year, 104 brand and product training sessions have been carried out on our Academy platforms. As this action defines the way we work to ensure that our store employees have the necessary skills and capabilities to advice our customers about the products we sell, it is ongoing in nature, with no end date.    Prioritising certificationsFor our Matas in-house brands, our Ingredients Policy defines that when certifications can be achieved by a product, it must. In the financial year, we have relaunched our in-house brand range Matas Natur, where all products under this line have received the Nordic Ecolabel certifi-cation. This action is without end date and we will continue to prioritise certifications wherever possible, as it is our understanding that certi-fications provide assurance to consumers that products meet specific standards for quality and safety. The most applied certifications for in-house brands are The Nordic Ecolabel, catering to environmental protection, and the Asthma-Al-lergy Nordic certification that minimises the risk of developing allergies. Matas and KICKS also support the use of sustainable palm oil in our in-house brands, where selected products are certified with the RSPO certification.Supplier requirements in our Code of ConductRequiring suppliers to sign and adhere to our Code of Conduct happens when we sign new suppliers. This action is ongoing and part of the requirement to be a supplier of products to Matas Group and ensures that our suppliers always know the requirements to offer accurate and documented product information and claims. During the financial year, we have increased the share of suppliers that have signed our updated supplier Code of Conduct, from 36% in previous financial year, to 51% in this financial year. We expect to reach 100% by 2027/28, as stipulated in our targets. Tracking the effectiveness of our actionsWe track the effectiveness of our actions by evaluating the ongoing engagement our Customer Success Team has with our customers. This dialogue offers direct input from the consumers and end-users of our products and services, as to the relevance of our actions and the effective-ness of these. During the financial year 2024/25, we have not provided or enabled remedy in relation to an actual material impact, as no such case has been identified. S4-4Actions and resources related to data privacy and protection   We govern data privacy and security through yearly actions we believe will mitigate the poten-tial negative outcome of cyber security breaches and the financial risk tied to such events.Training in data privacy and securityWe require our employees to complete quarterly training on the proper protection and processing of personal data, as well as on preventing cyber security breaches. The training is carried out four times a year and covers personal data protection, IT security and mitigation of risks in relation to cyber attacks. This action has no end date as this is embedded in our way of working and there-fore a prerequisite for being employed by Matas Group.  Tracking the effectiveness of our actionsOur Group Legal and IT departments track the effectiveness of the training, by internal testing of our employees’ preparedness for withstanding attacks and fishing attempts. We secure personal data privacy and safety through these actions and processes, and we will continue our commit-ment for as long as we manage consumer data.During the financial year 2024/25, we have not provided or enabled remedy in relation to an actual material impact, as no such case has been identified. Resources allocated to management of material impactsAt Matas Group, we manage, and prioritise resource allocation to, our identified mate-rial impacts in our ways of working. As such, training in ingredients and data privacy and security, prioritising certifications, regulatory quality assurance and supplier requirements in our Code of Conduct are all significant actions embedded in the management structures and operations of Matas Group. During 2024/25, we have not invested additional significant resources to manage our material impacts, but our knowl-edge and understanding of our material impacts enables us to continuously improve our ways of working to seek to manage and mitigate these.  S4.MD R-TTargets in relation to consumers and end-users   With our updated ESG strategy, we have set two clear targets to enhance product transparency and ensure consumers have the information they need to make informed choices. By prioritising transparency, we also strengthen product safety and aim to be recognised as a shopping desti-nation known for trusted advice and high quality product information.As we depend on both in-house and external suppliers for accurate product data, our targets address both categories:In-house brand targetOur target is for 100% of Matas Group’s in-house brand products to provide high-quality, compre-hensive ingredient information to consumers—either through third-party ingredient platforms or in-house solutions—by 2027/28. Currently, most of our in-house brands are registered with the third-party app KemiLuppen, which offers consumers detailed analyses of product ingredi-ents and their health impacts, such as potential allergens. As KICKS products enter the Danish market, we will prioritise their registration in Kemi-Luppen to ensure full and up-to-date coverage. While similar platforms are not yet available in our other markets, we continue to seek new third-party partnerships as our transparency efforts evolve. Our target will support us in leveraging the identified positive impact identified in relation to product transparency and safety. The scope of this target covers all Matas in-house beauty and personal care products, excluding equipment, styling tools and others in-house brand products, that do not require an ingredients list. Currently, 60% of the Group’s inhouse brands are registered in KemiLuppen.  Supplier Code of Conduct targetWe aim to have 100% of our suppliers, in scope, committed to the Group’s Supplier Code of Conduct by 2027/28. As previously described, Matas Group’s Supplier Code of Conduct requires all suppliers to ensure that any beauty, health, or sustainability claims made in the marketing of their brands and products fully comply with EU regulations. This is to guarantee the accuracy and credibility of product information across all Matas Group e-commerce platforms. Consequently, the Code of Conduct helps us to address the poten-tial negative impact and risk identified in relation to product transparency and safety. The scope of this target covers all Matas Group suppliers of products for sale. However, in the case that our suppliers have their own Code of Conduct with similar requirements, we review this to make sure it aligns with ours and if so, accept their Code of Conduct to adhere with the requirements set out in Matas Group Code of Conduct.  Currently, 51% of our suppliers have signed the Code of Conduct. Our targets reflect our commitment to providing high-quality information and influencing our suppliers to minimise potential negative impacts in our value chain. Monitoring progressBoth our targets are reviewed, and progress against these assessed, as part of their quarterly reporting of the ESG strategy implementation. As this financial year 2024/25 is our baseline year, we are not reporting on our progress to meet our targets, however, this will be reported annually.   Accounting policy:Entity specific in-house brands quality infor-mationThe share of in-house brands with third-party ingredients platforms or in-house solutions is calculated based on the number of Matas Group in-house brands that are present in KemiLuppen compared against the total number of in-house brand products.  Entity specific Supplier Code of ConductThe share of suppliers that has signed the Group's Code of Conduct is calculated based on the suppliers who have committed compared against those who are on the old supplier Code of Conduct and have not yet been transitioned to the updated Code of Conduct.S4 Ent. Spec. 1 In-house brands quality information Unit FY2024/25Share of In-house brands with third-party ingredients platforms or in-house solutions  % 60S4 Ent. Spec. 2 Supplier Code of ConductShare of suppliers that has committed to the Group's updated CoC % 51S4.MD R-T Consumers and end-users targetsProgress Target Unit Type of target Baseline year Baseline Target year Target scoreagainst target100% of our in-house brand products have high-quality ingredient information to consumers either through third-party ingredient platforms or in-house solutions % Relative 2024/25 60 2027/28 100 0100% of our suppliers have committed to the Group’s Supplier Code of Conduct % Relative 2024/25 51 2027/28 100 0In the dynamics of the retail industry, business conduct remains important for Matas Group as this guides our shared corporate values and defines the business behaviour that leads to an open and collaborative culture. This is also important to ensure robust supplier relationships and helps us to maintain the confidence of our stakeholders. Our administrative, management and supervisory bodies play a key role in ensuring proper busi-ness conduct. Their roles and responsibilities are defined by how we ensure corporate governance and described in our ‘Corporate Governance’ section page 38  which also describes their capabilities to ensure the quality and consistency of our governance approach.  G1.IRO-1Processes to identify impacts, risks and opportunitiesTo identify Matas Group’s IROs related to busi-ness conduct, we have assessed both impacts and financial risks across our retail operations in Denmark, Sweden, Norway, and Finland. Our analysis encompasses supplier relationships and transactions, as well as internal business conduct, with particular attention to the recent acquisition of KICKS, and the integration of business func-tions at the Group level to drive synergies that are essential to the performance of the Group.G1.SBM-3Material impacts, risks and opportunities  Matas Group has identified 1 potential negative impact and 2 risks in its upstream value chain and own operations:Corporate culture26    Mismanaged corporate culture leading to negative impact on corporate behaviour and employee satisfaction (negative impact).27    High employee turnover and reputational damage from mismanaged corporate culture (risk).Relationship with suppliers28    Loss of business relationship and reputa-tional damage (risk).At Matas Group, we believe that corporate culture is a powerful strength that shapes employee behaviour and unites our diverse Group portfolio. As we continue to grow, fostering a collabora-tive and cohesive corporate culture is key, when potential new acquisitions require different corporate cultures to merge under one Group, like with the KICKS acquisition. This corporate culture, while locally adapted across nationalities in stores and logistics centres, must align with our overar-ching values and Group policies. This is essential, as left unassessed and mismanaged, corporate culture can negatively impact our employees and potentially increase employee dissatisfaction and cause reputational damage. Both consequences can substitute a financial risk associated with high employee turnover. Strong supplier relationships are essential for our business operations and our continued growth, and any mismanagement could threaten our ability to stock our stores and e-commerce plat-forms. Ensuring favourable interactions and timely payments is important to avoid being blacklisted by suppliers. This could not only threaten our financial stability but also put us at risk of reputa-tional harm among our stakeholders.G1-1Policies related to corporate culture At Matas Group, we have policies that explicitly guide the behaviour we believe drive a strong corporate culture. These guidelines are defined in our Employee Code of Business Conduct and our Whistleblower Policy. The sufficiency of both policies is evaluated regularly in Matas Group Compliance Steering Group, which is chaired by the General Counsel. Employee Code of Business ConductMatas Group’s Employee Code of Business Conduct is instrumental in shaping the Group’s corporate culture by clearly defining the values and ethical principles that guide us as an organ-isation. It serves as a foundational document that aligns employee behaviour with the Group’s purpose, ensuring that everyone understands the expectations and standards for expected busi-ness conduct. By articulating these core values, the Code of Conduct promotes consistency in actions and decisions across the organisation, fostering a unified approach to achieving business goals. The Code guides to specific behaviours, miti-gating the risk of corruption and bribery, discrimina-tion and harassment, and conflicts of interest. At Matas Group, we do not assess any functions as being more at risk in respect to corruption and bribery. As such, all employees are considered to be exposed equally, however the risk is perceived to be very low. The Code is a part of our mandatory onboarding process, ensuring that all employees read and understand expected behaviour upon begin-ning their employment at Matas Group. With its contents and its early introduction to the Group’s employees, it mitigates the identified risk asso-ciated with a potential mismanaged corporate culture.  Whistleblower PolicyOur Whistleblower Policy complements our Whistleblower Scheme. All entities under Matas Group are in scope of this Policy and it supports the creation of an open corporate culture, where everyone is free to raise concerns. The objective of our Whistleblower Policy is to foster a respon-sible and transparent corporate culture where employees and other stakeholders can freely report serious concerns, such as illegal activities or significant misconduct, without the fear of retaliation. With this Policy, we ensure that such reports are handled confidentially and effectively, thereby preventing potential financial losses and reputational damage.To protect whistleblowers, the Policy clearly guides on how anonymity and confidentiality is guaranteed for those who choose to report concerns, anonymously or not. The system we use for reporting is secure and encrypted, ensuring that personal data is protected. Whistleblowers are shielded from harassment and victimisation, with sanctions in place for anyone attempting to retaliate against them. Additionally, the identity of the whistleblower is kept confidential throughout the investigation process, and they are only disclosed if legal proceedings require their testi-mony as a witness.Our Whistleblower Scheme is internally commu-nicated to our employees on an ongoing basis. During the anti-trust trainings of our management teams, we also provide training in our Scheme and Policy objectives. The Matas Group General Counsel has access to and evaluates all reports made through our Whistleblower Scheme. Every quarter, the Audit Committee and the Board of Directors receive information about the number of reports and the gravity hereof.G1-2Management of relationships with suppliersAt Matas Group, we are dedicated to upholding the highest standards of integrity, respect, and ethical conduct in our interactions with suppliers. We expect our suppliers to align with business principles that reflect our own. When identifying new and relevant suppliers for Matas Group, we ensure that ethical considerations covering social and environmental attention, guide our process. Furthermore, upon signing with a new supplier, our Supplier Code of Conduct presents a legal agreement to suppliers to adhere to our require-ments within social and environmental protection.  If any supplier fails to meet these standards, we will initiate an open and transparent dialogue, implement corrective measures, or, if required, terminate the partnership. In return, we honour the reasonable standards set by our partners.</mrv:SustainabilityReport>
   <mrv:DescriptionofTheTaxonomyRegulation contextRef="ctx-1" id="f1__s9__7__23" xml:lang="en">EU Taxonomy reporting We recognise that the EU Taxonomy is pivotal in advancing the green transition for European businesses. At Matas Group, we are reporting our fourth year by the taxonomy regulation, and during our financial year, we have made advancements to meet the criteria across our eligible activities.  Eligibility results in 2024/25 In 2024/25, we have continued to use a system-atic approach of allocating eligible revenue (turn-over), capital expenditure (CAPEX), and opera-tional expenditure (OPEX) to each of the identified economic activities. We have considered both the first two climate objectives, as well as the addi-tional four environment objectives. Our findings indicate that two of these objectives remain the most relevant for Matas Group: Climate change mitigation and Circular economy. We have identi-fied the following taxonomy eligible activities: Turnover For Matas Group, our primary business activity is within retail, which includes the sale of our products and goods. This business activity is not included as an eligible economic activity in the EU Taxonomy, which means our turnover KPI, covering sales of health and beauty products, will remain non-eligible for this reporting year. CAPEX Our eligible CAPEX is mostly tied to the locations that are important to the Group being a retail company, such as our leases and renovation of our facilities. We have, however, also CAPEX related to transportation and data related activ-ities. CCM 6.5 Transport by motorbikes, passenger cars and light commercial vehicles. This economic activity covers leasing and purchasing of company cars and leasing of light transport vehicles. CCM 7.2 / CE 3.2 Renovation of existing buildings. This economic activity covers major renovation and refurbishment work of our stores, warehouse, and offices.CCM 7.3: Installation, maintenance and repair of energy efficiency equipment. This economic activity covers the Group’s work with energy refurbishment in all our locations.CCM 7.4 Installation, maintenance and repair of charging stations for electric vehicles in buildings (and parking spaces attached to buildings). This economic activity covers installation of chargers for electric vehicles.CCM 7.7: Acquisition and ownership of build-ings. This economic activity covers the Group’s long-term rental of buildings, offices and ware-housing, as well as Matas Logistics Center (MLC) in Denmark.CCM 8.1: Data processing, hosting and related activities. This economic activity covers purchases of new data centers, IT servers and networking equipment.OPEXOur eligible OPEX stems from the service and maintenance of our CAPEX investment and as such, follows the economic activities of transpor-tation, facility management and data processing and hosting activities. CCM 6.5 Transport by motorbikes, passenger cars and light commercial vehicles. This economic activity covers repair, maintenance, and cleaning of company cars.CCM 7.3: Installation, maintenance, and repair of energy efficiency equipment. This economic activity covers maintenance and repair of ventila-tion, lighting, heating, etc.CCM 7.7: Acquisition and ownership of buildings. This economic activity covers general repair, maintenance, cleaning, and other running costs related to stores, offices, and warehouses.CCM 8.1: Data processing, hosting, and related activities. This economic activity covers the repair and maintenance of data centres, IT servers and networking equipment.Assessing alignment in 2024/25To assess alignment of our eligible activities we have chosen to focus on the Climate change miti-gation objective as it is highly synergised with our ambitions to drive more sustainable retail. In 2024/25, we have considered three main economic activities as important to support our ambition, which includes CCM 7.2 Renovation of existing buildings, and CCM 7.3 Installation, main-tenance, and repair of energy efficiency equip-ment and CCM 7.7 Acquisition and ownership of buildings. When assessing alignment to the technical screening criteria, we consider these economic activities as a priority, given their individual contributions to our CAPEX and OPEX KPIs. As a retail company, we lease many properties across the Nordics, which means that these economic activities are directly relevant for our business model. For economic activities CCM 7.2, 7.3, and 7.7, the DNSH criteria related to climate change adapta-tion are relevant, for which we have performed an alignment assessment. For all other eligible activities we have not been able to obtain the required data to assess alignment, and therefore concluded that no further assessment would result in meaningfull alignment scores. .CCM 7.7 Acquisition and ownership of buildings In the previously reported financial year 2023/24, we assessed alignment for substantially contrib-uting to climate change mitigation for our long-term rent of stores across all markets. Our find-ings indicated that 7 Matas stores in Denmark have the highest possible energy class of A. As we still rent these locations, this is still the case.  Going forward, we will ensure that in our dialogue with future lessors we will ask about potential rental locations’ energy performance and planned energy renovations. For the 7 stores with the highest energy efficiency class, we have successfully fulfilled all of the tech-nical screening criteria. To fulfil the requirements under the Climate Change Adaptation, we have not been able to evaluate the degree to which our stores and other properties are screened through a physical climate risk assessment to identify any relevant climate-related hazards, including whether climate and vulnerability assessments are done for affected assets. We are currently planning for a full Climate Resilience analysis, in which we plan to include the screening of climate-related hazards potentially affecting our locations. Hence, as we do not adhere to the criteria for DNSH Climate change adaptation for these locations, we do not fully align with the requirements for this economic activity.In 2024/25, we finalised the constructing of the new Matas Logistics Centre (MLC) in Lynge, outside of Copenhagen. As a change from last year, we have due to observed practice, since we are constructing MLC for our own use, moved the alignment criteria from CCM 7.1 to now CCM 7.7. As a result, we have assessed it to be necessary to restate the economic activities related to MLC for previous year's reported CAPEX. This means that 7.1 has been removed from our CAPEX KPI for 2023/24, and the reported economic activity that what included in 7.1 (10.8%) is now included in 7.7. As a result 7.7 has, in the reported year 2023/24 increased from 52.9% to 63.8%. As previously disclosed, we have worked on successfully closing the alignment gaps, conse-quently ensuring the documentation to prove that MLC adheres to the criteria under substantial contribution and do no significant harm. As such, we now report the CAPEX in relation to MLC as aligned as per taxonomy guidance.  For KICKS' warehouse, Roserberg, we have not been able to close the alignment gaps in 2024/25, which means we are not able to claim alignment on the Rosersberg warehouse. CCM 7.2 Renovation of existing buildings Throughout 2024/25, we have undertaken reno-vation and refurbishment initiatives in our stores and offices. At this stage, we do not have suffi-cient data to confirm whether these projects have enhanced energy performance or reduced the primary energy demand of the buildings. As a result, we are currently unable to evaluate compli-ance with the technical screening criteria for this economic activity.CCM 7.3 Installation, maintenance and repair of energy efficiency equipment As part of our business strategy, we are refur-bishing our stores to provide our customers with updated store experiences, and as part of this, we ensure that out-dated light fixtures are renewed with efficient LED sources. We are still applying LED sources rated under class D which is in alignment with the requirement of being within the highest two populated classes of energy efficiency. To continue our alignment efforts, we will continue to understand the energy efficiency information for the type of equipment that we install in our properties. However, as we were not able to fulfil the requirement of a climate change adaptation plan for our stores, the do no signifi-cant harm criterion was not met and the activity is not aligned with the technical screening criteria. Minimum safeguards We have assessed compliance to the minimum safeguards on a Group level, determining the extent to which adequate processes and docu-mentation are in place to safeguard against violations in terms of human rights, tax govern-ance and compliance, fair competition laws, and corruption, ethics and bribery. In 2023/24, it was determined that Matas Group did not fully comply with these criteria. For 2024/25, we have worked to close the compliance gap to be able to fully comply with the crite-rion. As such, we have signed with Amfori BSCI, accessing their Human Rights Due Dilligence plat-form, to assess any breaches from our in-house brands suppliers operating in high-risk areas. Our Group membership to Amfori builds on several years of membership by KICKS, who has used the platform to comply with the requirements under The Norwegian Transparency Act in our Norwe-gian market.For areas related to taxation and fair compe-tition, adequate policies and processes are in place to ensure tax governance and compliance, as well as promoting employee awareness of competition laws and regulations. Furthermore, we have updated our Matas Group Competition Law Policy, internally communicated awareness of this, and trained relevant employees and senior management with a standardised training on fair competition regulations. This means that our policies and operational practices for taxa-tion and competition comply with the minimum safeguards in 2024/25. In terms of our anti-cor-ruption and bribery processes, clear policies and guidelines are outlined in our Supplier Code of Conduct, Human Rights Policy, internal Gift Policy, and our Code of Business Conduct for Employees, which are all part of our onboarding programme, meaning that compliance to the guidelines is a legal requirement for continued employment. Furthermore, we have a “Speak Up”, culture where employees are continuously encouraged to address issues or suspected issues by raising them with 1) Their Line Manager, 2) Group Legal and/or HR or 3) utilising the anonymous Whistle-blowing Scheme. Finally, for each of the four topic areas there have been no final convictions of Matas, nor any of our subsidiaries. EU Taxonomy effort in the coming year For the coming financial year, we will work to improve elements of our reporting where we determine the most positive effects of achieving alignment, however, we do not have any CAPEX plans developed. We will aim at implementing standardised data collection processes and internal controls with key stakeholders across the Group. Our ambition is to employ a systematic process of collecting both financial and non-fi-nancial data for our EU Taxonomy reporting.Nuclear and fossil gas related activitiesRow Nuclear and energy related activities1. The undertaking carries out, funds or has exposures to research, development, demonstration NOand deployment of innovative electricity generation facilities that produce energy from nuclear processes with minimal waste from the fuel cycle.2. The undertaking carries out, funds or has exposures to construction and safe operation of new NOnuclear installations to produce electricity or process heat, including for the purposes of district heating or industrial processes such as hydrogen production, as well as their safety upgrades, using best available technologies.3. The undertaking carries out, funds or has exposures to safe operation of existing nuclear installations NOthat produce electricity or process heat, including for the purposes of district heating or industrial processes such as hydrogen production from nuclear energy, as well as their safety upgrades.Fossil gas related activities4. The undertaking carries out, funds or has exposures to construction or operation of electricity genera-NOtion facilities that produce electricity using fossil gaseous fuels.5. The undertaking carries out, funds or has exposures to construction, refurbishment, and operation of NOcombined heat/cool and power generation facilities using fossil gaseous fuels.6. The undertaking carries out, funds or has exposures to construction, refurbishment and operation of NOheat generation facilities that produce heat/cool using fossil gaseous fuels.TurnoverSubstantial Contribution Criteria DNSH criteria ('Does Not Significantly Harm')Taxonomy aligned  propor-tion  Category of total Category  (transi-turnover,  (enabling  tional  year N activity)  activity) Economic Activities (1)(18)2(20)(21)Millions, DKK % % % % % % % Y/N Y/N Y/N Y/N Y/N Y/N Y/N % E TA. TAXONOMY-ELIGIBLE ACTIVITIES 0.0%A.1. Environmentally sustainable activities (Taxonomy-aligned)0.0% 0% 0% 0% 0% 0% 0% 0.00.0% 0% 0% 0% 0% 0% 0% 0.00.0% 0% 0% 0% 0% 0% 0% 0.0Turnover of environmentally sustainable activities  (Taxonomy-aligned) (A.1)  0.00 0.0% 0.0 0.0 0.0 0.0 0.0 0.0 Y Y Y Y Y Y Y 0.0 0% 0%Of which Enabling 0.00 0.0% 0.0 0.0 0.0 0.0 0.0 0.0 Y Y Y Y Y Y Y 0.0 0% 0%Of which Transitional 0.00 0.0% 0.0 0.0 0.0 0.0 0.0 0.0 Y Y Y Y Y Y Y 0.0 0% 0%A.2 Taxonomy-eligible but not environmentally sustainable activities  (not Taxonomy-aligned activities)Turnover of Taxonomy-eligible but not environmentally sustainable  activities (not Taxonomy-aligned activities) (A.2) 0.0 0.0%Total (A.1+A.2) 0.0 0.0%B. TAXONOMY-NON-ELIGIBLE ACTIVITIESTurnover of Taxonomy-non-eligible activities 8,379 100%Total (A+B) 8,379 100%1  For the purposes of this illustrative template, this figure shows the: Taxonomy-aligned turnover of the activity / Total Taxonomy eligible turnover of the activity.2  Taxonomy-aligned turnover of the activity/ Total turnover of undertaking.CAPEXSubstantial Contribution Criteria DNSH criteria ('Does Not Significantly Harm')Taxonomy aligned  Category proportion  Category  (transi-of total (enabling  tional  CapEx,  activity)  activity) Economic Activities (1)year N (18)2(20)(21)Text Millions, DKK % % % % % % % Y/N Y/N Y/N Y/N Y/N Y/N Y/N % E TA. TAXONOMY-ELIGIBLE ACTIVITIES 63.9%A.1. CapEx of environmentally sustainable activities (Taxonomy-aligned)Acquisition and ownership of buildings CCM 7.7 311 37.7% 37.7% 0.0% 0.0% 0.0% 0.0% 0.0% N Y N N N N Y 0%  E  TCapEx of environmentally sustainable activities  (Taxonomy-aligned) (A.1) 311 37.7% 37.7% 0.0% 0.0% 0.0% 0.0% 0.0% N Y N N N N Y 0%Of which Enabling 0 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% N Y N N N N Y 0% EOf which Transitional 0 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% N Y N N N N Y 0% TA.2 Taxonomy-eligible but not environmentally sustainable activities (not Taxonomy-aligned)Transport by motorbikes, passenger cars and light commercial vehicles   CCM 6.5 2 0.2% EL N/EL N/EL N/EL N/EL N/EL 0.2%Renovation of existing buildings   CCM 7.2 32 3.9% EL N/EL N/EL N/EL N/EL N/EL 2.0%Installation, maintenance and repair of energy efficiency equipment   CCM 7.3 30 3.6% EL N/EL N/EL N/EL N/EL N/EL 1.6%Installation, maintenance and repair of charging stations for electric vehicles in buildings CCM 7.4 0 0.0% EL N/EL N/EL N/EL N/EL N/EL 0.0%Acquisition and ownership of buildings   CCM 7.7 146 17.7% EL N/EL N/EL N/EL N/EL N/EL 63.8%Data processing, hosting and related activities   CCM 8.1 6 0.7% EL N/EL N/EL N/EL N/EL N/EL 0.2%CAPEX of Taxonomy-eligible but not environmentally  sustainable activities (not Taxonomy-aligned activities) (A.2) 216 26.2% 26.2% 0% 0% 0% 0% 0% 67.8%Total (A.1+A.2) 528 63.9% 63.9% 0% 0% 0% 0% 0% 67.8%B. TAXONOMY-NON-ELIGIBLE ACTIVITIESCAPEX of Taxonomy-non-eligible activities 298 36.1%Total (A+B) 826 100%1  For the purposes of this illustrative template, this figure shows the: Taxonomy-aligned turnover of the activity / Total Taxonomy eligible turnover of the activity.2  Taxonomy-aligned CAPEX of the activity/ Total CAPEX of undertaking.OPEXSubstantial Contribution Criteria DNSH criteria ('Does Not Significantly Harm')Taxonomy aligned  Category proportion  Category  (transi-of total (enabling  tional  CapEx,  activity)  activity) Economic Activities (1)year N (18)2(20)(21)Text Millions, DKK % % % % % % % Y/N Y/N Y/N Y/N Y/N Y/N Y/N % E TA. TAXONOMY-ELIGIBLE ACTIVITIESA.1. Environmentally sustainable activities (Taxonomy-aligned)0 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% N N N N N N N 0%  E Of which Enabling 0 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% N N N N N N N 0% EOf which Transitional 0 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% N N N N N N N 0% TA.2 Taxonomy-eligible but not environmentally sustainable activities (not Taxonomy-aligned)Transport by motorbikes, passenger cars and light commercial vehicles CCM 6.5 0 0.3% EL N/EL N/EL N/EL N/EL N/EL 0.3%Installation, maintenance and repair of energy efficiency equipment  CCM 7.3 6 7.7% EL N/EL N/EL N/EL N/EL N/EL 8.0%Acquisition and ownership of buildings  CCM 7.7 66 85.3% EL N/EL N/EL N/EL N/EL N/EL 68.7%Data processing, hosting and related activities  CCM 8.1 0 0.3% EL N/EL N/EL N/EL N/EL N/EL 4.3%OPEX of Taxonomy-eligible but not environmentally  sustainable activities (not Taxonomy-aligned activities) (A.2) 72 93.6% 93.6% 0% 0% 0% 0% 0% 81.3%A. Total (A.1+A.2) 72 93.6% 93.6% 0% 0% 0% 0% 0% 81.3%B. TAXONOMY-NON-ELIGIBLE ACTIVITIESOPEX of Taxonomy-non-eligible activities 5 6.4%Total (A+B) 77 100%1  For the purposes of this illustrative template, this figure shows the: Taxonomy-aligned turnover of the activity / Total Taxonomy eligible turnover of the activity.2  Taxonomy-aligned OPEX of the activity/ Total OPEX of undertaking.Accounting policy The share of taxonomy-eligible economic activities is expressed as the proportion of turnover, total addi-tions (CAPEX) and direct non-capitalised expenditures (OPEX) related to a product, service, assets or processes of an economic activity described in the EU Taxonomy. As we only assess one environmental objective, double counting is avoided when allocating turnover, CAPEX and OPEX. The taxonomy reporting is carried out at a Group level. Turnover  The reported total turnover follows the revenue line reported in the Matas’ Annual Report 2024/25 (see note 2).  The reported taxonomy turnover KPIs are:  1.   Eligible turnover. This KPI is defined as taxonomy- eligible turnover / total turnover. 2.  Aligned turnover. This KPI is defined as taxonomy-aligned turnover / total turnover. CAPEX  The EU Taxonomy defines CAPEX as additions to property, plant and equipment, including right of-use assets, and intangible assets during the financial year (See note 3.1, note 3.2 and note 3.3). The total CAPEX measure is aligned with reported additions in Matas’ Annual Report 2024/25 on the following points in the Taxonomy CAPEX definition:  1.  IAS 16 Property, plant and equipment 2. IAS 38 Intangible assets3. IFRS 16 LeasesAs for note 3.3, the IFRS 16 Leases additions from right-of-use assets that make up the CAPEX denominator, do not include re-evaluations, which is consistent with the EU Taxonomy reporting methodology applied in financial year 2023/2024.The EU Taxonomy defines three categories of allocating eligible and aligned CAPEX: a)  CAPEX related to assets or processes that are associated with a taxonomy-aligned economic activity;  b)  CAPEX that is part of a plan to expand an aligned or upgrade an eligible activity to become aligned;  c)  CAPEX related to the purchase of output from taxonomy-aligned economic activities and individual meas-ures enabling target activities to become low-carbon or lead to greenhouse gas reductions. For 2024/2025, the CAPEX measure does not consider the historic KICKS acquisition which was the case in the 2023/2024 financial year reporting. Therefore, the total eligible CAPEX has decreased by approx. 25%. On the other hand, and like previous financial year, the majority of eligible CAPEX is allocated under CCM 7.7. Another major change is that CCM 7.1 is not considered and those CAPEX have been allocated under CCM 7.7 due to observed practices in the industry. Please see previous note on this under “alignment” chapter. Non-eligible CAPEX includes additions to property, plant and equipment and intangible assets related to retail and sales operations, IT software, and administrative activities.The reported taxonomy CAPEX KPIs are:  1.   Eligible CAPEX. This KPI is defined as taxonomy-eligible CAPEX / total CAPEX.  2.  Aligned CAPEX. This KPI is defined as taxonomy-aligned CAPEX / total CAPEX. The primary sources of CAPEX contributing to the numerator of the CAPEX KPI in this financial year are addi-tions related to machinery used for the construction of the MLC (DKK 128 million) and the additions related to the general construction itself of the MLC (DKK 184 million).OPEX  The EU taxonomy defines OPEX as direct non-capitalised costs that relate to research and development, building renovation measures, short-term leases, maintenance and repair, and any other direct expenditures relating to the day-to-day servicing of assets of property, plant and equipment that are necessary to ensure the continued and effective functioning of such assets. In our reporting, OPEX covers direct non-capitalised expenditures related to taxonomy-eligible and non-el-igible economic activities that align with the definition above. For our eligible proportion, we have allocated repair and maintenance, building renovation, and other direct running costs associated with eligible assets identified under our CAPEX KPI. For our non-eligible OPEX, we have assigned repair and maintenance costs related to our retail, sales and administrative activities, as well as employee training.The reported taxonomy OPEX KPIs are: 1.   Eligible OPEX: This KPI is defined as taxonomy-eligible OPEX / total OPEX.  2.  Aligned OPEX: This KPI is defined as taxonomy-aligned OPEX / total OPEX.Taxonomy alignment process  The process for determining Matas Group’s degree of sustainable economic activities has been conducted in three steps: 1.   Screening and identifying eligible economic activities across Matas Group carried out in the reporting period. 2.  Assessing the identified economic activities’ alignment degree by compliance checking up against the technical screening criteria for Substantial contribution and Do No Significant Harm  3.  Comparing defined requirements to comply with Minimum safeguards against Matas Group’s existing procedure and policies. </mrv:DescriptionofTheTaxonomyRegulation>
   <mrv:StatementOfTheDiversityPolicies contextRef="ctx-1" id="f1__s9__7__28" xml:lang="en">Diversity PolicyOur Diversity Policy applies to all entities with the Group and outlines the Company's approach to enhancing diversity, particularly focusing on increasing the representation of the underrep-resented gender. The objective is to enhance the Group’s diversity in age, gender, nationality, ethnicity, experience, and education. It promotes an inclusive workplace that values diverse perspectives, boosts customer understanding, and builds a high-performing workforce. It guides our leadership teams in ensuring equal career opportunities and diverse application and recruit-ment processes. </mrv:StatementOfTheDiversityPolicies>
   <mrv:StatementOfPolicyForDataEthics contextRef="ctx-1" id="f1__s9__7__25" xml:lang="en">Data Ethics PolicyMatas Group’s Data Ethics Policy holds our commitment to ensure the ethical use of data and new technologies. The Policy objective is to ensure that personal data is processed with ethical integrity. Access our policy here: matasgroup.com/governance/policies/  We believe that the right to privacy is a funda-mental human right. Our Data Privacy Policy and Data Ethics Policy directly exercise consumers rights by ensuring the right to privacy and align with the United Nations (UN) Guiding Principles  on Business and Human Rights.</mrv:StatementOfPolicyForDataEthics>
   <mrv:LinkToCorporateGovernanceReport contextRef="ctx-1" id="f1__s9__7__26">matasgroup.com/governance/</mrv:LinkToCorporateGovernanceReport>
   <sob:StatementByExecutiveAndSupervisoryBoards contextRef="ctx-1" id="f1__s9__7__30" xml:lang="en">Statement by the Board of Directors  and the Executive CommitteeThe Board of Directors and Executive Committee have today considered and adopted the Annual Report of Matas A/S for the financial year 1 April 2024 – 31 March 2025.The Consolidated Financial Statements and the Parent Company Financial Statements have been prepared in accordance with IFRS Accounting Standards as adopted by the EU and further require-ments in the Danish Financial Statements Act. Management’s Review has been prepared in accordance with the Danish Financial State-ments Act.In our opinion, the Consolidated Financial Statements and the Parent Company Financial Statements give a true and fair view of the financial position at 31 March 2025 of the Group and the Parent Company and of the results of the Group and Parent Company operations and cash flows for 2024/25.In our opinion, Management’s Review includes a fair review of the development in the operations and financial circumstances of the Group and the Parent Company, of the results for the year and of the financial position of the Group and the Parent Company as well as a description of the most significant risks and elements of uncer-tainty, which the Group and the Parent Company are facing.Additionally, the sustainability statement, which is part of Manage-ment’s Review, has been prepared, in all material respects, in accordance with paragraph 99 a of the Danish Financial Statements Act. This includes compliance with the European Sustainability Reporting Standards (ESRS) including that the process undertaken by Management to identify the reported information (the “Process”) is in accordance with the description set out in the section titled “Impact, risk and opportunity management”. Furthermore, disclo-sures within the subsection titled “EU Taxonomy reporting” in the environmental section of the sustainability statement are, in all material respects, in accordance with Article 8 of EU Regulation 2020/852 (the “Taxonomy Regulation”).The financial year 2024/25 marks the initial implementation of paragraph 99 a of the Danish Financial Statements Act concerning compliance with ESRS. As such, more clear guidance and practice are anticipated in various areas, which are expected to be issued in the coming years. Furthermore, the sustainability statement includes forward-looking statements based on disclosed assump-tions about events that may occur in the future and possible future actions by the Group. Actual outcomes are likely to be different since anticipated events frequently do not occur as expected.In our opinion, the Annual Report of Matas A/S for the financial year 1 April 2024 - 31 March 2025 with the file name Matas-2025-03-31-en.zip is prepared, in all material respects, in compliance with the European Single Electronic Format (ESEF Regulation).We recommend that the Annual Report be adopted at the Annual General Meeting.</sob:StatementByExecutiveAndSupervisoryBoards>
   <sob:PlaceOfSignatureOfStatement contextRef="ctx-1" id="f1__s9__7__31" xml:lang="en">Allerød</sob:PlaceOfSignatureOfStatement>
   <sob:DateOfApprovalOfAnnualReport contextRef="ctx-1" id="f1__s9__7__32">2025-05-23</sob:DateOfApprovalOfAnnualReport>
   <cmn:NameAndSurnameOfMemberOfExecutiveBoard contextRef="ctx-45" id="f1__s9__7__33" xml:lang="en">Gregers Wedell-Wedellsborg</cmn:NameAndSurnameOfMemberOfExecutiveBoard>
   <cmn:TitleOfMemberOfExecutiveBoard contextRef="ctx-45" id="f1__s9__7__34" xml:lang="en">Group CEO</cmn:TitleOfMemberOfExecutiveBoard>
   <cmn:NameAndSurnameOfMemberOfExecutiveBoard contextRef="ctx-46" id="f1__s9__7__35" xml:lang="en">Per Johannesen Madsen</cmn:NameAndSurnameOfMemberOfExecutiveBoard>
   <cmn:TitleOfMemberOfExecutiveBoard contextRef="ctx-46" id="f1__s9__7__36" xml:lang="en">Group CFO</cmn:TitleOfMemberOfExecutiveBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-47" id="f1__s9__7__37" xml:lang="en">Lars Vinge Frederiksen</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <cmn:TitleOfMemberOfSupervisoryBoard contextRef="ctx-47" id="f1__s9__7__38" xml:lang="en">Chair</cmn:TitleOfMemberOfSupervisoryBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-48" id="f1__s9__7__39" xml:lang="en">Mette Maix</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <cmn:TitleOfMemberOfSupervisoryBoard contextRef="ctx-48" id="f1__s9__7__40" xml:lang="en">Deputy Chair</cmn:TitleOfMemberOfSupervisoryBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-49" id="f1__s9__7__41" xml:lang="en">Espen Eldal</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef=