Assets

Type	Time	Amount	Unit
ifrs-full:Assets	2025-09-30	7675000000	vDKK
ifrs-full:Assets	2024-09-30	7154000000	vDKK

Revenue

Type	Start date	End date	Amount	Unit
ifrs-full:Revenue	2024-10-01	2025-09-30	6037000000	vDKK
ifrs-full:Revenue	2023-10-01	2024-09-30	5391000000	vDKK

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   <mrv:CorporateGovernanceReport contextRef="ctx2" id="fact1796" xml:lang="en">CORPORATE  GOVERNANCE  Corporate governance concerns the way Ambu is managed and  controlled. We are continuously developing our corporate governance  in response to strategic development, goals, and activities. We seek  to establish close and trusted relations with relevant stakeholders,  including shareholders, employees, customers, suppliers, and society  as a whole. We also seek to ensure transparency, and we want to  openly share relevant information with our stakeholders.  Corporate governance reporting  Ambu’s Board of Directors complies with all  of Nasdaq Copenhagen’s recommendations  regarding corporate governance and reports.  More information on the mandatory annual  Corporate Governance Report is disclosed at  Ambu.com in accordance with section 107(b) of  the Danish Financial Statements Act.  Governance structure  The shareholders of Ambu A/S exercise their  rights at the general meeting, which is the  supreme governing body of the company. At  the annual general meeting, the shareholders  approve the Annual Report, dividends, elect the  Board members and the auditors of the com-  pany, and adopt Ambu's Articles of Association  and proposals submitted by shareholders and  the Board. Any shareholder has the right to raise  questions and suggestions for consideration at  the general meetings.  Ambu has two share classes, and our Articles of  Association do not impose any restrictions on  ownership or voting rights. Class A shares carry  ten votes per share, while class B shares carry  one vote per share. Class A and class B shares  carry equal economic rights. The class B shares  are traded publicly at NASDAQ Copenhagen. Any  shareholder is entitled to attend and vote at the  general meetings.  The Board of Directors regularly discusses the  existing ownership structure with the holders of  class A shares. The Board of Directors and the  holders of class A shares agree that the owner-  ship structure has been and remains expedient  for all of Ambu's stakeholders, as it lays a sound  framework for the implementation of our strategy  and plans, thereby safeguarding the interests of  all shareholders.  Board of Directors  Ambu has a two-tier management structure,  consisting of the Board of Directors and the  Executive Management. The two bodies are  independent of each other, and no person serves  as a member of both. The Board of Directors,  consisting of nine independent non-executive  members. They are responsible for, but not  limited to, the overall management of Ambu,  defining strategies and setting objectives, as well  as approving the overall budgets and plans. The  Board of Directors also undertakes overall super-  vision of the company’s activities and ensures  that Ambu is managed in a responsible manner  and in compliance with legislation and the Arti-  cles of Association.  The Board of Directors has established an annual  process, whereby self-evaluation of the Board of  Directors’ work and performance is assessed. At  least every three years, the evaluation is con-  ducted by an experienced external facilitator.  The self-evaluation in 2024/25 led to focus areas,  which will be included in the work of the Board of  Directors in 2025/26.*  Qualifications and composition  of the Board of Directors  The Board of Directors currently has six mem-  bers elected by the shareholders at the annual  general meeting, and three members elected  by the employees, pursuant to the Danish rules  concerning employee representation. The share-  holder-elected members are elected for one year  at a time, while the employee-elected members  are elected for a four-year period. For the Board  of Directors to undertake its responsibilities and  act as a good sounding board for the Executive  Management, experience within the following  areas is particular relevant: Global strategy &amp; exe-  cution, MedTech industry, organizational trans-  formation and restructuring, finance, audit &amp; risk  management, compliance, regulatory &amp; legal,  supply chain &amp; manufacturing, sustainability,  board governance &amp; ESG, HR &amp; compensation,  and digital/technology experience. The members  of Ambu’s Board of Directors are deemed to  possess these competences.*  Currently, the Board consists of nine members,  of whom three are employee-elected. Of these  nine members, three are women, and six are  men. The Board of Directors is composed of  33.3% women and 66.7% men, with the same  ratio among the members elected at the annual  general meeting. In accordance with section 139c  of the Danish Companies Act, this is considered  equal gender representation in the Board, and no  policy or further reporting is thus required.*  The members of the Board of Directors reside  in Denmark, the U.S., France, and Sweden. All  members elected by the shareholders are con-  sidered to be independent members, as defined  by the Committee on Corporate Governance. Of  Ambu’s nine-member Board of Directors, six are  independent and three are employee-elected,  resulting in an independence rate of 66.7%. In  addition, we have two executive directors – the  CEO and CFO – who are not part of the Board.  Overview of attendance  rate for 2024/25  The Board of Directors held nine meetings  during 2024/25.  To ensure dedicated and in-depth work in spe-  cific areas, the Board of Directors has established  several committees and one council that report  to the Board of Directors: Chair Council, Audit  Committee, Remuneration Committee,  Board of Directors  Chair  Audit  Remuneration  Innovation  Nomination  Council  Committee  Committee  Committee  Committee  Innovation Committee, and Nomination  Committee.  The Chair Council consists of the Chair and the  Vice Chair of the Board of Directors. The Chair  Council performs certain preparation and plan-  ning in relation to Board meetings and is a forum  for the Chair Council’s and Executive Manage-  ment’s reflections. The Chair Council held 10  meetings during 2024/25.  The Audit Committee consists of three mem-  bers of the Board of Directors. In addition, the  Chief Executive Officer, the Chief Financial  Officer, the VP Finance &amp; Accounting, and the  auditor appointed at the annual general meeting  attend the Audit Committee meetings. The Audit  Committee held five meetings during 2024/25.  The purpose of the Audit Committee is to assist  the Board of Directors in ensuring the quality and  integrity of the presentation of the company’s  financial statements, reporting, and auditing, as  well as reviewing the risk and control manage-  ment systems in connection with Ambu's finan-  cial reporting.  The charter of the Audit Committee can be found  at Ambu.com/auditcom.  The Remuneration Committee consists of three  members of the Board of Directors. In addition,  the Chief Executive Officer and the Chief People  Officer attend the meetings. The Remuneration  Committee held four meetings during 2024/25.  The duties of the Remuneration Committee are  set to ensure that the remuneration offered by  Ambu is competitive and sufficient to attract and  retain the best qualified directors and executives.  The charter of the Remuneration Committee can  be found at Ambu.com/remcom.  The Innovation Committee consists of three  members of the Board of Directors. In addition,  the Chief Executive Officer, the Chief Marketing  Officer, and the Chief Technology Officer attend  the Innovation Committee meetings. The Inno-  vation Committee held three meetings during  2024/25. The purpose of the Innovation Commit-  tee is to oversee and make recommendations for  the innovation strategy and its execution, and to  consider external innovation opportunities.  The charter of the Innovation Committee can be  found at Ambu.com/innovationcom.  The Nomination Committee consists of three  members of the Board of Directors. The Nom-  ination Committee held two meetings during  2024/25. Ambu’s Chief Executive Officer attends  the meetings of the Nomination Committee. The  Nomination Committee and the CPO is charged  with evaluating the composition of the Executive  Management, and with evaluating and possibly  renewing the Board of Directors to ensure that  the members of the Board meet the require-  ments and possess the skills required.  The charter of the Nomination Committee can be  found at Ambu.com/nomcom.  Overview of committee members and attendance rates for 2024/25  Board of  Chair  Audit  Remuneration  Innovation  Nomination  Directors  Council  Committee  Committee  Committee  Committee  Jørgen Jensen (Chair)  9/9  10/10  -4/4  3/3  2/2  Shacey Petrovic (Vice Chair)  8/9  10/10  -3/3  -2/2  Susanne Larsson  9/9  -5/5  4/4  --Michael Del Prado  9/9  ---3/3  2/2  Simon Hesse Hoffmann  9/9  -5/5  ---David Hale  8/8  -3/3  -3/3  -Charlotte Elkjær Bjørnhof  9/9  -----Thomas Bachgaard Jensen  9/9  -----Jesper Mads Bartroff Frederiksen  9/9  -----Board governance  2024/25 2023/24 2022/23 2021/22 2020/21  CEO pay ratio  (times)  18  24  20  11  12  Board meeting  attendance rate (%)  99  97  100  94  100  *Purpose and scope  Ambu expects all employees, business partners,  customers, and stakeholders across the value  chain to uphold the highest ethical standards in  their business conduct. The Speak Up – Integrity  Line is designed to encourage and enable stake-  holders to report serious concerns or suspected  misconduct, allowing Ambu to prevent, detect,  and address potential abuse or malpractice.  Ambu’s Speak Up – Integrity Line supports the  Group’s Code of Conduct by offering a secure  and confidential channel for reporting serious  concerns. Employees and business partners  are encouraged to report suspected criminal  offences, policy breaches, or legal violations,  including those involving third parties. Report-  able issues include fraud, corruption, bribery,  anti-trust violations, discrimination, harassment,  major quality non-compliance, conflicts of  interest, improper sales practices, health, safety  and environmental risks, human rights violations,  insider trading, data privacy breaches, IT security  issues, and trade sanctions.  General description  The Speak Up – Integrity Line is a secure, con-  fidential, and anonymous reporting channel,  available 24/7 and hosted by an independent  third party. To support thorough investigation,  reporters are encouraged to provide detailed  information, enabling the Hotline Committee to  assess the grievance and determine an appropri-  ate remedy if needed.  Case handling  Cases can be reported by submitting a written  report online. Links to the Speak Up – Integrity  Line are available on Ambu’s corporate intranet  and website. Reports can be submitted in  English or selected local languages, and may  be filed anonymously, except where restricted  by local law. Once a report is submitted, a case  file is created and assigned to a case-handler  appointed by the Hotline Committee. The  case-handler may delegate tasks to relevant  global or local investigators as needed.  The Hotline Committee consists of the Senior  Director, Sustainability and Risk &amp; Compliance;  Vice President, General Counsel, and the Chief  People Officer. Global Risk &amp; Compliance acts as  the secretariat and reports to the CFO and Audit  Committee.  Each case is assessed individually, and remedies  – if deemed necessary – are assigned based on  the nature of the grievance and the stakeholders  involved. Remedies may range from internal  corrective actions to contractual or legal mea-  sures, depending on the severity and scope of  the issue.  Investigation procedure  Ambu has a dedicated Standard Operating  Procedure (SOP) for internal investigations, which  applies uniformly to all reported grievances.  The purpose of investigation is to determine  whether operations or personal conduct deviate  from legal requirements and/or Ambu’s internal  policies.  Investigations are managed by the Hotline Com-  mittee, Lead Investigator, and Hotline Secretariat,  with support from internal experts and, when  necessary, both internal and external investiga-  tors. Each case is handled in three phases:  1. Pre-investigation – case intake and assignment  2. Investigation – planning and execution of  investigative activities  3. Post-investigation – conclusion report,  sanctions, and follow-up  In certain cases, it may be necessary to review  stakeholders’ files or activities. Such reviews are  conducted strictly in accordance with personal  data protection legislation, only when essential,  and when the information cannot be obtained  through other means. In line with legal require-  ments, the employee must be informed of the  review either beforehand or at a later stage.  Anti-retaliation  Ambu has a clear Anti-Retaliation Policy and  does not tolerate retaliation against any indivi-  dual who, in good faith, reports misconduct or  violations, or participates in an investigation.  Governance  The governance of Ambu’s Speak Up – Integrity  Line operates on two levels. All reports submit-  ted through the system are first received by the  Global Risk &amp; Compliance team, which acts as  the secretariat, responsible for case intake,  documentation, coordination, and internal  reporting. Once a case is logged and assessed,  the Hotline Committee is engaged as the primary  decision-making body to manage the investiga-  tion and determine appropriate actions. Follow-  ing resolution, Global Risk &amp; Compliance esca-  lates the case outcomes to the C-suite, CFO, and  Audit Committee, ensuring senior leadership  oversight and accountability.  The Board of Directors appoints the Executive Management and lays down  its terms of service. The Executive Management is responsible for Ambu’s  day-to-day management, including, but not limited to, the development  of Ambu’s activities and operations and our risk management, financial  reporting, and internal affairs.  The Executive Management prepares and presents  Ambu's strategy, long-term financial planning, and  budgets to the Board of Directors. The delegation of  powers and responsibilities by the Board of Directors  to the Executive Management is defined in the Rules of  Procedure for Ambu’s Board of Directors (Bestyrelsens  Forretningsorden) and the provisions of the Danish  Companies Act (Selskabsloven).  The Executive Management consists of Ambu's Chief  Executive Officer, Britt Meelby Jensen, and Chief Finan-  cial Officer, Henrik Skak Bender. The Executive Manage-  ment is also part of the Executive Leadership Team. To  ensure oversight of sustainability matters, Ambu has  anchored them in the Executive Management.  The Executive Leadership Team (ELT) is chaired by  Ambu’s CEO and CFO (Executive Management) and is  composed of senior executives responsible for central  functions, such as People &amp; Culture, Risk &amp; Compli-  ance, Legal, Operations, R&amp;D, IT, Sales, Marketing, and  Procurement. To ensure ownership and leadership  focus, each material topic related to the European Sus-  tainability Reporting Standards (ESRS) has a assigned  sponsor from the ELT. The sponsors are responsible  for driving the areas forward and are accountable for  delivering on associated targets. Responsibility for exe-  cuting action plans and targets lies with the associated  departments for the respective areas. Women repre-  sent 37.5% of the Executive Leadership Team, while  men account for 62.5%.  Recommendations for corporate governance  As a Danish listed company, Ambu A/S must comply  with, or explain deviations from, the “Recommenda-  tions for Corporate Governance”, implemented by Nas-  daq Copenhagen, in the Rules for issuers of shares and  Section 107b of the Danish Financial Statements Act.  The Board of Directors has considered the recommen-  dations from the Committee on Corporate Governance  and has reported on them in a corporate governance  document. Ambu complies with all of the recommenda-  tions of the Committee on Corporate Governance, and  the report on compliance with the corporate gover-  nance recommendations can be found at Ambu.com/  corpgov.  </mrv:CorporateGovernanceReport>
   <mrv:SustainabilityReport contextRef="ctx2" id="fact2265" xml:lang="en">SUSTAINABILITY  STATEMENT  →General disclosures  →Environment disclosures  →Social disclosures  →Governance disclosures  →ESRS disclosure index  Ambu is a growth company with a clear ambition to decouple financial  growth from environmental impact. Our aspiration is to scale our  operations while decreasing emissions and resource use.  Sustainability is embedded across everything we do, from product  development and sourcing to manufacturing and energy use. With a net-  zero commitment by 2045 under the Science Based Targets initiative,  we are accelerating the transition to sustainable healthcare through  responsible operations, circular product and packaging design, and our  pioneering Ambu® Recircle Program – the world’s first endoscope recycling  initiative.  As we grow, we remain equally committed to fostering a safe, inclusive, and  empowering workplace where our people thrive alongside our business.  43% 28% 37%  Decrease in market-  Decrease in total  of total energy  based scope 1 and  market-based GHG  consumption this year  2 GHG emissions  intensity from the  comes from renewable  from the baseline  baseline year 2020/21  energy sources  year 2020/21  ESRS 2 GENERAL DISCLOSURES  Basis for preparation  The sustainability statement forms an integral  part of the management’s review in this Annual  Report and provides transparent information on  Ambu A/S's environmental, social, and gover-  nance (ESG) performance for the financial year  2024/25. The structure of the statement differs  from prior years, as it has been prepared in  accordance with the EU Corporate Sustainability  Reporting Directive (CSRD) and the European  Sustainability Reporting Standards (ESRS),  fulfilling Ambu’s obligations under Article 99d  from Data Ethics Policy, p. 74, and 107d from  Board of Directors, pp. 45-46, pp. 50-51, of the  Danish Financial Statements Act. As part of our  review, no material errors were identified, how-  ever EU Taxonomy and scope 3 disclosures were  restated to reflect methodology improvements.  Read more under EU Taxonomy, pp. 91-95,  Scope 3 emissions - accounting policy, pp.  89-90. The statement reflects the outcome of a  comprehensive Double Materiality Assessment  (DMA), which identified the topics most rele-  vant to Ambu and our stakeholders. To support  and interpret the ESRS disclosures, additional  frameworks have been applied, including the  Greenhouse Gas Protocol (GHGP), UN Global  Compact principles (UNGC), EU Taxonomy, and  the Science-Based Targets Initiative (SBTi). The  reporting period covered is from 1 October 2024  to 30 September 2025. No exceptional events  occurred during this time. Disclosures related to  specific circumstances are presented alongside  the relevant topics and accounting policies. The  statement has been subject to limited assurance  by an independent auditor.  The sustainability statement is prepared on a  consolidated basis, consistent with the financial  statement, and it covers Ambu A/S, our subsid-  iaries and affiliates under financial control, and  leased or rented assets under Ambu’s opera-  tional control. For a complete overview of the  consolidated group, please refer to the financial  statements, p. 134. The statement covers the  Group’s entire value chain, as detailed in the  Value chain, p. 24, and Business model, p. 23,  sections, with a primary focus on Ambu’s own  operations. This approach aligns with the DMA  outcomes and reflects where Ambu has the  greatest ability to influence ESG impacts.  The time horizons used in this report align with  those recommended by the ESRS and are con-  sistent with our financial statements. 'Short term'  refers to the current financial reporting period of  one year, 'medium term' covers the period from  one up to five years, and 'long term' is defined as  more than five years. For climate matters, long-  term horizons are extended, considering climate  projections from the Intergovernmental Panel on  Climate Change (IPCC), as well as our scenario  modeling, based on Task Force on Climate-re-  lated Financial Disclosures (TCFD) and SBTi  climate targets.  Estimates and uncertainties  Estimates and informed assumptions were  used as a basis for some of the metrics where  direct measurable data is not available. This is  addressed in each accounting policy under the  relevant metrics, except for the metrics where  estimates were based on the third party data,  such as scope 3 categories, which are addressed  below.  For scope 3, we used the data provided by suppli-  ers for categories 4 and 6. For categories 5 and 12,  we relied on UN reports to estimate incineration,  recycling, and waste rates in different regions.  We ensure accuracy by using primary supplier  data whenever available, standardizing calcu-  lation methods according to the GHG Protocol  and documenting all assumptions. Where data  uncertainty still exists, we plan to improve accuracy  by engaging with suppliers for better data and  iteratively refining assumptions as more primary  data becomes available.  This financial year, we identified gender pay gap  and resource inflows and outflows as metrics  exposed to high level of measurement uncertain-  ties, which will be addressed by improvement  of calculation methodologies for the future  reporting years. Estimates and assumptions we  made can be found under accounting policies  for Resource inflows &amp; outflows, pp. 99-100,  Gender pay gap, p. 111, and Sustainability  reporting data controls, p. 61.  We report in accordance with the requirements  of the Danish Transparency Act outlined in Cor-  porate governance, p. 45. For details, see the  Transparency Act Report published on our web-  site, and the Statement on Equality and Anti-Dis-  crimination issued in accordance with the Danish  Equality and Anti-Discrimination Act, p. 46. We  are compliant with the Articles of Association and  the relevant legislation for Data Privacy Policy.  Several of Ambu’s manufacturing facilities, sales  offices, and processes are certified to ISO  standards. Ambu’s guidelines, which form part of  our management system, have also been revised  in accordance with our ISO certifications.  We apply all relevant phase-in provisions,  exclude voluntary disclosures that do not affect  the topic review, and follow the ESRS incorpo-  ration-by-reference approach, with some dis-  closures presented outside of this statement. Read  more in ESRS disclosure index, pp. 127-130, and  Datapoints that derive from other EU legislation, pp.  131-133.  ESG ratings and commitments  This year, Ambu added a new recognition to our  accreditations: Sustainalytics’ Low Risk rating. This  rating indicates that our enterprise value is assessed as  having a low risk of material financial impacts driven by  ESG factors, relative to industry peers and the global  universe. In addition, we sustained our EcoVadis rating,  specifically their 'Committed' badge, reflecting our  dedication to sustainable business practices. Current  ESG ratings reflect our performance in 2023/24, with  the exception of CDP, which reflects data from the  2022/2023 reporting year. While rating methodologies  were already CSRD‑aligned, our disclosures during this  period were not yet fully aligned. As we transition to  reporting on a CSRD‑aligned year, we anticipate that  ratings will better reflect our progress.  Toward the end of the financial year, we made a public  commitment to SBTi to submit and validate our net‑  zero targets within the next two years, confirming our  decarbonization and decoupling ambitions. Comple‑  menting this commitment, our largest production site  in Mexico is LEED Silver certified for its sustainable  design and construction, demonstrating significant  environmental, economic, and social benefits, such as  lower operating costs, due to higher energy efficiency,  advanced recycling, and lower water consumption.  Recognized for our sustainability efforts  Ambu is proud to be recognized for our sustainability leadership and performance by many leading rating  agencies and platforms, such as Sustainalytics, Ecovadis, MSCI, ISS, and UN Global Compact.  AUG 2024  Sustainalytics  Ecovadis  MSCI  ISS ESG  Low risk rating  'Committed' badge  AA leadership rating  C+ Prime rating  Five risk levels: negligible, low,  Fast mover to Platinum  From AAA to CCC  On a scale from  medium, high, and severe  A+ down to D‑  Science Based Targets  Nasdaq  S&amp;P Global  UN Global Compact  Committed  Certified  ESG score of 37  Committed to UNGC COP  To submit and validate our  Nasdaq ESG  Measured on a scale  Reporting on progress  net‑zero targets  Transparency Partner  from 1 to 100  LEED Silver Certification  Plasticbank  CPD  Read more about our  Granted to our Mexico factory site  Funded the removal of 9,875,900  D rating for FY2022/23  ratings and performance  for incorporating sustainable  plastic bottles from nature,  From A to D on  design and construction  preventing plastic pollution  Climate and Water  on our website  Sustainability governance  We operate a two-tier management structure  comprising the Board of Directors (BoD) and  Executive Management. The two bodies are  independent; no individual serves on both. Share-  holder-elected members are appointed annually,  while employee-elected members serve four-year  terms. Oversight of sustainability matters is  anchored in the Executive Leadership Team (ELT).  This sustainability statement has been prepared  with input from the CEO, CFO, CTO, CMO, COO,  CPO, and all other members of the ELT. The ELT  comprises our senior executives; “top manage-  ment” is defined as one level below. Further  details on the BoD structure, number of executive  members, gender diversity ratio, independence,  and governance framework are provided under  Corporate governance, pp. 44-46.  The DMA confirms that our key business areas  are closely linked to our long-term strategic  goals: decoupling growth from environmen-  tal footprint, creating an attractive workplace,  building long-term customer relationships, and  ensuring resilient operations.  Defining sustainability goals and indicators is  integral to the Group's strategy and annual busi-  ness planning at global and regional levels. Each  year, internal and external sustainability ambi-  tions are set by the ELT and the Group function  leaders, based on input from sales and produc-  tion regions, and other relevant stakeholders.  Progress is monitored quarterly. The ELT and  BoD approve targets related to material impacts,  risks, and opportunities (IROs), while climate  targets are presented by the Senior Director of  Sustainability and Risk &amp; Compliance.  A detailed description of Ambu’s strategy and  goals is available in the ZOOM AHEAD section,  pp. 18-21.  The BoD and ELT collectively possess sufficient  sustainability-related competencies to oversee  and guide our sustainability strategy across all  ESRS standards. We regularly assess and intend  to maintain this level of expertise in line with  capital market expectations and good corporate  governance principles. The BoD collectively holds  sufficient sustainability expertise to align overall  strategy with sustainability goals. Read more on  specific BoD and ELT members' experience  under Corporate governance, pp. 48-51.  Our updated DMA identifies key environmental  and social priorities, which are reflected in our  strategy and daily operations. Initiatives such as  our Ambu® Recircle Program and circular product  and packaging design demonstrate our commit-  ment to continuous improvement of our sustain-  ability performance.  For strategic sustainability priorities, see the  ZOOM AHEAD section, pp. 18-21.  For remuneration of the CEO and CFO, including  sustainability-linked components, please see  Remuneration, pp. 42-43.  Oversight of IROs rests with the ELT. Each mate-  rial IRO has a designated ELT Sponsor to ensure  ownership and accountability. During BoD  meetings, our ELT contributes its experience  and operational and administrative insights to  guide decision-making on sustainability matters.  Final decisions regarding IROs (including policy  approval, action planning, target setting, and  ongoing monitoring) are jointly made by the BoD  and ELT.  The Audit Committee (AC) oversees ESG per-  formance quarterly to enhance transparency  and ensure consistent evaluation of our material  IROs, and relevant metrics. The BoD, ELT, and  AC rely on established processes and internal  controls, and on the outcomes of the DMA, to set  targets tied to material IROs.  Reporting lines for material IROs are disclosed  under Ambu's policies, pp. 73-76, and IRO over-  view, pp. 67-72. See Corporate governance,  p. 44, for governance bodies’ roles and proce-  dures.  Our reporting platform focuses on material areas  relevant to performance monitoring and enables  managers to track developments within their  functions. Key climate and social metrics – includ-  ing safety – are collected and reported quarterly,  alongside relevant regional data. The platform  currently does not include employee and custo-  mer satisfaction, which are captured annually  in other tools. Read more under Our Voice  employee engagement survey, pp. 105-107.  We currently report in accordance with the follow-  ing standards: ESRS E1 and E5 (Environment), S1,  S2, and S4 (Social), and G1 (Governance), each  documented in its respective section.  Ambu embeds material IROs within strategy,  guiding decision-making across all organiza-  tional levels, including major transactions and  risk management. This serves as the foundation  for governance structures, internal controls, and  risk management described in the preceding  section.  Policies, actions, and targets linked to IROs are  referenced in the IRO overview, pp. 67-72. Read  Corporate governance, pp. 37-55, for gover-  nance and control frameworks.  Statement on Ambu’s due diligence  Ambu has mapped information provided in the sustainability process  about our due diligence process.  For illustration purposes, please see the table below:  Core elements  Paragraphs in the  of our due diligence  sustainability statement  Embedding due diligence  GOV-1 Management responsibilities  in governance, strategy,  GOV-1 Oversight of sustainability IROs  and business model  GOV-2 Sustainability matters addressed by Management  GOV-3 Incentive schemes  SBM-3 Double materiality assessment  Sustainability due diligence  Engaging with affected  Engaging with stakeholders  stakeholders  GOV-2 Sustainability matters addressed by Management  IRO-1 DMA process  Sustainability due diligence  Identifying and assessing  SBM-3 Double materiality assessment  negative impacts  SBM-3 Double materiality assessment result  on people and the  IRO-1 DMA process  environment  Sustainability due diligence  Taking action to address  E1-3 Climate transition plan  negative impacts  E5-4 Resource inflows  on people and the  E5-5 Resource outflows  environment  S1-4 Impacts on own workforce  S4-4 Impacts on customers and end users  Sustainability due diligence  Tracking the  Sustainability due diligence  effectiveness of  those efforts and  communicating  Sustainability reporting data controls  This year, we implemented systems to manage  sustainability reporting risks after the pre-imple-  mentation of CSRD in 2023/24. Internal controls  were strengthened and expanded in collabora-  tion with data owners and relevant stakeholders  to align sustainability reporting with financial  reporting standards and ensure data accuracy  and completeness.  The findings from our risk assessments and  evaluations of internal controls are reported to  relevant internal administrative, Management,  and supervisory bodies through a structured pro-  cess. This includes quarterly updates to the ELT  and the AC, annual summaries presented to the  BoD as a part of our Annual Report and internal  audit review, and ad-hoc reporting if significant  changes in risk exposures or control effective-  ness are identified.  Depending on the materiality, sustainability data  and reporting risks are addressed individually in  coordination with data owners, ELT, or the AC.  The risks we identified this year related to uncer-  tainties around ESRS E5-4 resource inflows and  resource outflows, and ESRS S1-16 on the gender  pay gap, due to calculation methods and limita-  tions in our internal datasets. We aim to address  these limitations in the future. For ESRS S1-16 on  the gender pay gap, our assumptions are based  on the representative data sample. Data controls  for both metrics are subject to improvement  measures for the next financial year.  To mitigate these risks, the ESG Reporting &amp;  Data Management team works with internal and  external subject matter experts to strengthen  governance of data collection and control sys-  tems, while improving the quality and scope of  datasets used for calculations.  Strategy, business model,  and value chain  Our sustainability strategy is an integral part  of our ZOOM AHEAD business strategy.  This alignment ensures that sustainability goals  are prioritized across all business activities. Read  more on our ZOOM AHEAD strategy, pp. 18-21.  We are committed to advancing sustainability  through our diverse range of medical devices  and solutions. Read more about our served mar-  kets and customer segment in Business high-  lights, pp. 7-8, Resilient global footprint,  p. 22, and Business model, p. 23.  Our solutions also enable better patient out-  comes and more sustainable healthcare practi-  ces. To understand how digitalization is embed-  ded in Ambu’s business strategy, see our ZOOM  AHEAD strategy, pp. 18-21.  Our long-term goals focus on strengthening  employee and customer satisfaction, building  lasting customer relationships, and growing our  customer base. We aim to support our customers  on their sustainability journey, aligning our efforts  with our vision of a more sustainable world. To  learn how we pursue our long-term objectives,  see our ZOOM AHEAD strategy, pp. 18-21, and  to understand how we set our long-term climate  targets and align them with our business model,  see our Climate transition plan, pp. 80-81.  Details about our business model, core business  activities, and value creation are presented in the  Business model, p. 23, and Value chain, p. 24,  sections.  Engaging with stakeholders  We have identified our external and internal  stakeholders that contribute to and benefit from  the value we create. Stakeholder engagement is  also a core component of our sustainability due  diligence process, and we disclose key actions  under each material topic in this report.  Over the past two years, we have engaged in  structured stakeholder dialogues to understand  what our stakeholders consider the most impor-  tant in relation to our sustainability efforts. These  dialogues have been integral to the development  of our DMA, helping us identify opportunities  and risks across our value chain and informing  strategic decisions and daily operations. Material  topics, such as environmental and social sustain-  ability, were highlighted by healthcare profes-  sionals and organizations as central to meeting  evolving market demands. The interests and  expectations of our stakeholders vary depending  on the nature of the relationship, but generally,  they expect us to operate ethically and uphold  high standards of business conduct, including  environmental sustainability.  As a result of these engagements, we have begun  enhancing key elements of our business model,  especially in our approach to environmental  sustainability, responsible sourcing, and  employee engagement. We consult internal  experts for operational insights and work with  external advisors on environmental issues rele-  vant to our business. Building on this momen-  tum, we are planning to expand our stakeholder  engagement framework globally and integrate  stakeholder feedback more systematically into  product development and supply chain decisions.  These initiatives, set to roll out over the next  12–24 months, are expected to strengthen our  responsiveness and reinforce our commitment to  accountability and continuous improvement.  Stakeholder views and interests are regularly  discussed across relevant departments, business  units, ELT, and BoD meetings. The ELT is formally  updated at least once a year during the DMA  review process, ensuring that stakeholder per-  spectives are actively considered in the ongoing  development of our strategy and business model.  Our DMA and the information presented in  this sustainability statement reflects the most  important topics for our stakeholders, based on  identified interdependencies and IROs across  our value chain and operations.  Stakeholder groupWhy we engage  Engagement  Value created  Customers  Through ongoing customer engagement and feedback, we identify  • Innovation days  Ambu provides benefits for healthcare professionals and patients  and adopt customer needs in the development process, contribut-  • Development activities and feedback  through our endoscopy solutions, which provide enhanced effi-  ing to us delivering world-class solutions that make a difference in  • Performance trials and data assessment  ciency, strong clinical performance, and better economics, as well as  healthcare, while also contributing to reducing the environmental  • Hospital visits  an improved environmental impact.  footprint of the healthcare sector.  • Conferences  • Management interactions  Employees  We are focused on building a purposeful and diverse, engaged, and  • Global employee engagement surveys  Ambu creates value for employees by continuously advancing our  inclusive culture where our employees can harness their compe-  • Global town halls  shared culture and sustainability awareness, driven by our strong  tences and ideas, thrive in close collaborations with colleagues and  • Ambu purpose and values team sessions  purpose, embedded values, and strategic direction.  customers, apply high levels of trust, and take ownership of driving  • CEO letters and strategy newsletters  shared success.  • Intranet communication  • Performance and development dialogues  • Workers’ councils  • Sustainability trainings  Suppliers  We rely on our many suppliers to reach our emission reduction goals  • Responsible supplier program  Ambu focuses on supporting and collaborating with our supply  and approach net-zero emissions. Therefore, we aim to work with  • Supplier engagement on climate transition  chain to ensure that our suppliers live up to the increasing standards  and support suppliers that share our commitment to sustainability  within sustainability.  and responsible business practices.  Investors and  To ensure efficient financial allocation, we regularly engage with ana-  • Investor roadshows and conferences  Ambu provides long-term shareholder return by investing capital  shareholders  lysts and institutional investors to support a fair company valuation  • Investor calls  in projects and utilizing our strong commercial and innovation  and ensure liquidity of the Ambu share.  • Briefings with equity research analysts  infrastructure to achieve high growth, as well as a return on invested  • Capital market days  capital (ROIC) that exceeds the cost of capital (WACC).  • Annual general meetings  Regulators  Compliance with existing regulations on responsible business prac-  • Industry associations  Ambu supports and complies with legislation developed to maintain  and authorities  tices is a requirement for Ambu to retain our license to operate.  • Roundtables with key stakeholders  stable and efficient institutions, as well as resilient societies in which  people and businesses can thrive.  Society  Community engagement is pivotal to building trust between Ambu  • Engagement with NGOs  Ambu engages with and supports the communities in which we  and the communities in which we operate, to reduce the risk of  • Collective action alliances and partnerships  operate to ensure that we understand and respond to the impact we  conflicts that may affect our success.  have on people and the planet.  Double materiality assessment  The identification of material topics to be  reported on has followed the guidelines of the  ESRS standard and EFRAG's IG1 – the implemen-  tation guidance for materiality assessment.  Through the DMA process, we have identified  material IROs across the entire value chain,  each closely integrated with our core business  activities and further described under each topic  reported on in this statement.  Most of the material IROs are concentrated within  our operations, while the remainder are distri-  buted across upstream (suppliers and produc-  tion partners) and downstream (distribution and  end users) value chain, underscoring that we do  not operate in isolation, and that our value chain  plays a critical role in shaping our sustainability  performance. IRO distribution is illustrated in the  IRO overview, pp. 67-72.  The prevalence of material IROs within areas  under our operational control enables systema-  tic and ongoing management. For IROs further  along the value chain, we are enhancing govern-  ance frameworks and deepening collaboration  with partners to support effective risk mitigation  and value creation. We are also working to inte-  grate IRO identification and analysis into relevant  systems and processes. Many of the IROs we  manage directly relate to business conduct, our  own workforce, and selected environmental  topics, such as climate change, resource use,  and circular economy. While these are often  addressed within our operations, several envi-  ronmental IROs have been identified in both the  upstream and downstream parts of our value  chain. In these cases, our influence is exercised  through strengthened policies and procedures in  procurement, waste management, and material  and resource use. The environmental impacts  associated with plastics and other raw materials  extend beyond the countries in which we ope-  rate – climate change and resource depletion are  global challenges, and our approach reflects this  broader responsibility.  As a leading international medical device com-  pany, we generate positive impacts across  multiple dimensions. We help customers reduce  their environmental footprint through initia-  tives like the Ambu® Recircle Program, invest in  employee development through training, and  improve patient outcomes by enabling early  diagnosis and treatment. We do not assess posi-  tive impacts based on remediability, nor do we  evaluate actual impacts based on likelihood.  The identified social impacts include both posi-  tive and negative effects. To mitigate the nega-  tive impacts primarily linked to the global nature  of our business, we have implemented policies,  actions, and targets aimed at protecting employ-  ees, value chain workers, and end users. Discon-  tinuing these initiatives could increase exposure  to social risks.  As a global medical device manufacturer, we  identify opportunities across our value chain to  generate positive social value. By supporting  our stakeholders – our employees, value chain  workers, consumers, and end users – we uphold  human rights throughout the value chain and  provide life-saving solutions.  For financial materiality, we evaluated the likeli-  hood and magnitude of financial effects. The  assessment covered topics prescribed in ESRS 1  (Article 16) and other relevant matters.  Based on last year’s DMA, our resilience is con-  sidered high within the applied time horizons.  The resilience analysis was informed by qualita-  tive and quantitative input from internal experts,  including an assessment of mitigating measures  across all IROs.  Following our CSRD pre-implementation last  year, the updated DMA assessment methodo-  logy included a revised scoring template this  year. The updated approach has improved  granularity in identifying material topics and  subtopics. Financial materiality was assessed  together with the impact materiality, using the  same scoring methodology. On top of value  chain considerations, Ambu considered resource  dependencies for each IRO and consulted with  impacted stakeholders across different geogra-  phies. Consulted stakeholders include internal  subject-matter experts, stakeholders directly  subjected to impacts (or their legitimate proxies),  DMA process  1.  2.  DMA review  Core elements of DMA  Building on previous years’ DMA, we revis-  The ESG Reporting &amp; Data Management  ited last year’s assessment to strengthen  team led data collection, interviews, and  our approach. We introduced a structured  materiality assessment using a unified  scoring system and clear thresholds to  scoring system and thresholds, supported  enhance the methodology and ensure con-  by internal subject-matter experts.  sistency in evaluating sustainability matters  in line with ESRS.  3.  ESRS topics  We reassessed our core DMA topics, including Ambu’s business model, strategy,  value chain, stakeholder landscape, geographic footprint, and resource dependencies.  This review ensured alignment with ESRS requirements, applying consistent scoring  to evaluate financial and impact materiality across all environmental, social, and  governance topics, sub-topics, and sub-subtopics relevant to Ambu.  4.  5.  Internal reviews  Scoring system  The ESG Reporting &amp; Data Management  and thresholds  team conducted comprehensive inter-  Materiality thresholds were set based on  nal reviews in close collaboration with  regulatory guidance, with financial materi-  the Legal, Risk &amp; Compliance, Global  ality tied to quantitative metrics and impact  Finance, Operations, and R&amp;D teams,  materiality to the significance of stakeholder  prior to the AC’s review and subsequent  and environmental effects.  approval.  and external advisors – helping Ambu assess  the impacts correctly, and helping Ambu gain a  deeper understanding of the groups affected.  Based on our scoring and thresholds, the follow-  ing ESRS standards were deemed material and  are covered in this sustainability statement:  1. ESRS E1 – Climate change  2. ESRS E5 – Resource use &amp; circular economy  3. ESRS S1 – Own workforce  4. ESRS S2 – Workers in the value chain  5. ESRS S4 – Consumers &amp; end users  6. ESRS G1 – Governance  Standards related to E2 (pollution), E3 (biodi-  versity), E4 (water), and S3 (affected communi-  ties) were assessed as immaterial and are not  included in this year’s statement. Read more  about our IRO identification in the IRO overview,  pp. 67-72.  We assessed both positive and negative impacts,  distinguishing between actual and potential. For  impact materiality, we scored each sustainability  matter based on scale, scope, remediability, and  likelihood. In line with CSRD, for potential nega-  tive human rights impacts, severity is prioritized  over likelihood.  With regard to our material risks and negative  impacts, we provide remedies when deemed  necessary and proportionate.  Thresholds were applied to both financial and  impact assessments. Financial thresholds align  with standard risk evaluation practices, while  impact thresholds – developed with input from  internal subject-matter experts – helped identify  material IROs and address stakeholder expecta-  tions. The new scoring template was used con-  sistently across all IROs, including financial and  environmental impacts.  Ambu’s ERM and DMA scoring systems are  closely aligned, sharing a core methodology –  particularly in assessing financial impacts. The  financial effects of material risks and opportuni-  ties vary depending on the nature of each case,  with some being harder to quantify than others.  Decision-making process  In line with our sustainability governance, the  ESG Reporting &amp; Data Management team led the  DMA process. The DMA is reviewed annually and  updated as data, insights, and regulatory require-  ments evolve.  For our first ESRS disclosures, we assessed each  requirement in detail, aligning them with identi-  fied IROs and preparing all material disclosures  for the sustainability statement in the Annual  Report.  Double materiality overview  DOUBLE  MATERIALITY  GHG emissions  FINANCIAL  IMPACT  Energy consumption  MATERIALITY  MATERIALITY  Resource inflows &amp; material consumption  Natural disasters  Manufacturing  Environmental impact of circular  waste and hazardous  product &amp; packaging  waste disposal  Environmental impact of  Human rights,  disposal of products  including belonging  Working conditions  Responsible marketing  Product quality &amp; safety  Product access &amp; affordability  Data privacy  &amp; cybersecurity  Impacts, risks, and opportunities (IRO) overview  Time  Value  horizon  chain  Policies,  Description  SMLstep  actions, targets  Metrics  Progress in 2024/25  ENVIRONMENT - E1 - CLIMATE CHANGE  Negative impact: As a producer of medical devices, we have a negative impact on the environment, due to greenhouse gas  • • •  ↑↓Environmental Policy  E1-5 Energy  Pemissions from our operations and across our value chain.  consumption  We have made  &amp; mix  progress on near-term  SBTi scope 1 and 2  Material risk: We are exposed to both physical and transitional climate-related risks, including extreme weather events, evolv-  •Climate transition plan,  E1-6 Gross  ↑↓Atargets, reflecting our  ing market dynamics, reputational risks from shifting public sentiment on climate, and increasing transparency and reporting  p. 80-81  scopes 1, 2, 3,  commitment to climate  requirements.  and total GHG  action. Our total GHG  emissions  emissions decreased  Material opportunity: We have the opportunity to reduce our emissions across the value chain through circular product  •↑↓Scope 1, 2, and 3 emissions  Scope 3  during this financial  Tdesign, responsible material choices, end-of-life treatment, and transparent reporting practices. Upstream, this includes  - Science Based Targets -  emissions  year. Read more about  reducing reliance on critical and single-sourced raw materials and integrating bioplastics into our endoscopes. Down-  near-term and long-term  category 5  our progress in Our  stream, our Ambu® Recircle Program enables customers to recycle used endoscopes, extending environmental benefits  from waste,  carbon footprint, pp.  beyond our operations. These initiatives support emission reductions and strengthen supply chain resilience by engaging  and category  86-87.  stakeholders and enhancing robustness against climate-related disruptions.  12 end-of-life  ENVIRONMENT - E1 - ENERGY  Negative impact: We consume significant amounts of energy in our production and partially rely on non-renewable energy  •↑↓Environmental Policy  Psources supplied from the grid at our production sites and sales offices.  Compared to last  Positive impact: By implementing various energy efficiency measures and obtaining LEED Silver certificate for our facility  •Climate transition plan,  year, our overall  ↑↓Ain Mexico and solar panels in Malaysia, Germany and Denmark, we have reduced our energy demand and dependence on  pp. 80-81  energy consumption  non-renewable sources, while also decreasing our environmental footprint.  E1-5 Energy  decreased 4%, while  consumption  share of renewable  •Material risk: Energy price volatility – driven by geopolitical and climate-related factors – poses a risk of increased operational  ↑↓TNo targets were set for energy  &amp; mix  energy increased to  costs. We mitigate this by investing in expanding our on-site renewable energy production capacities, reducing grid depen-  this financial year  37%, compared to 25%  dency, and enhancing long-term cost stability.  last year. Read more  Material opportunity: We can further lower our emissions by purchasing Renewable Energy Certificates (RECs) ensuring that  •under Energy, p. 85.  ↑↓our facilities and offices are powered from renewable energy sources.  Impacts, risks, and opportunities (IRO) overview  Time  Value  horizon  chain  Policies,  Description  SMLstep  actions, targets  Metrics  Progress in 2024/25  ENVIRONMENT - E5 - RESOURCE INFLOWS  Negative impact: We are dependent on virgin, oil-based non-renewable raw materials to produce our life-saving medical devices.  •↑↓Environmental Policy  PPositive impact: By transitioning to bio-attributed plastics, derived from second-generation feedstock, we reduce our  •Our resource use, circular econ-  ↑↓Aenvironmental footprint by turning waste into valuable product materials. This shift supports a more sustainable and circular  omy and waste actions, p. 98  By implementing  approach to resource inflows, lowers our reliance on fossil-based inputs, and contributes to climate mitigation across the  bioplastics into  upstream value chain.  E5-4  the handles of our  Material risk: If we were to rely solely on virgin oil-based plastics for our products, we would risk losing business opportuni-  • • •  ↑↓No targets were set for  Resource  endoscopes, we helped  Tties, as customers increasingly demand sustainable endoscopy solutions. This represents a material transitional risk, driven  resource inflows this financial  inflows  our customers reduce  by shifting market expectations and the growing preference for low-carbon, environmentally responsible medical technolo-  year  emissions by 550 metric  gies.  tonnes of CO2e.  Material opportunity: By switching to bio-attributed plastics derived from second-generation feedstock, we lower our  • • •  ↑↓dependence on conventional plastics and positively impact our financial performance, as customers increasingly prefer  sustainable medical devices.  ENVIRONMENT - E5 - RESOURCE OUTFLOWS &amp; WASTE  Negative impact: Our production depends on technical, non-biodegradable materials, and results in both non-hazardous  •↑↓Environmental Policy  Pand hazardous waste, all of which require effective waste management in compliance with local laws. These impacts stem  from resource outflows, as the materials cannot naturally reintegrate into the environment.  Positive impact: We have a positive impact through compliant handling of hazardous and non-biodegradable waste. We also  • • •  Our resource use, circular econ-  ↑↓AE5-4  design products for recyclability, supporting circularity. These efforts are embedded in our development strategy to pro-  omy and waste actions, p. 98  Resource  The rate of recyclable  mote sustainable resource use and minimize waste.  outflows  content in our packag-  Material risk: The use of non-biodegradable materials and hazardous substances exposes us to environmental and regula-  • • •  No targets were set for  ↑↓Ting is 68%.  tory risks. Improper disposal could lead to pollution, legal penalties, and reputational damage. Despite strict waste proto-  resource outflows and waste  E5-5 Waste  cols and recyclable design, waste management remains a critical operational and compliance risk.  this financial year  Material opportunity: Our Ambu® Recircle Program enables the recycling of our single-use endoscopes, offering a circular  • • •  ↑↓solution for high-volume medical devices. This supports waste reduction, strengthens customer partnerships, and aligns  with regulatory and market expectations for sustainable healthcare.  Impacts, risks, and opportunities (IRO) overview  Time  Value  horizon  chain  Policies,  Description  SMLstep  actions, targets  Metrics  Progress in 2024/25  SOCIAL - S1&amp; S2 - WORKING CONDITIONS  Potential negative impact: We may negatively impact our own workforce and value chain workers if we fail to ensure a safe  • • •  ↑↓Code of Conduct (for employ-  Pworking environment. Exposure to unsafe conditions or workplace accidents can lead to harm, especially in production  ees), Code of Conduct for  settings.  Business Partners, Responsible  Supplier Program  Positive impact: We prioritize workplace safety and comply with relevant legislation, actively working to minimize injuries.  • • •  ↑↓Our actions related to own  AThis commitment extends across our value chain, promoting safe practices among partners. Within our own operations, we  workforce, p. 107, Responsible  S1-16 -  This year, our LTIF is  support global employees through training and diverse career opportunities.  Supplier Program, p. 115  Workplace  0.796, which is well  Material risk: Failing to ensure safe working conditions and adequate training can lead to lower productivity, difficulties  • • •  2.0 for LTIF (lost time injury  accidents  below target.  ↑↓Tin attracting and retaining talent, legal consequences, reputational harm, and weakened relationships with suppliers and  frequency) in production sites,  partners.  innovation offices, respectively,  at all times  Material opportunity: By fostering a zero-accident culture and investing in safety training across our operations and supply  • • •  ↑↓chain, we enhance workforce engagement, attract and retain talent, improve operational efficiency, and enhance supplier  resilience.  SOCIAL - S1&amp; S2 - HUMAN RIGHTS  Potential negative impact: We may negatively impact our own workforce and value chain workers if we fail to uphold  • • •  ↑↓Labor &amp; Human Rights Policy,  Pemployee rights, including fair wages and safe working conditions, particularly in regions such as Asia. A lack of inclusive  Code of Conduct (for employ-  practices can also undermine employees’ sense of belonging, affecting morale and long-term engagement.  ees), Cofe of Conduct for Busi-  98% of our suppliers  ness Partners, Global Diversity,  have signed our Code  Equity, and Inclusion Policy,  of Conduct for Business  Responsible Supplier Program  S1-17 HumanPartners.  Positive impact: We have a positive impact on human rights by ensuring fair wages, supporting collective bargaining, and  • • •  Our actions related to own  rights  ↑↓Aimplementing initiatives to address regional risks and improve worker welfare, including workplace belonging and expres-  workforce, p. 107, Responsible  incidents  We did not receive any  sion. No grievances have been reported that challenge these efforts.  Supplier Program, p. 115  reports of human rights  violations through our  Material risk: Given our dependence on our own workforce and value chain workers in Asia, breaches of human rights could  • • •  ↑↓No targets were set for human  TSpeak Up - Integrity  lead to legal liabilities, operational and supply chain disruptions, and reputational damage.  rights this financial year  Line.  Material opportunity: We have a strong opportunity to advance human rights across our operations and supply chain by  • • •  ↑↓driving employee-led initiatives, fostering a culture of belonging, and ensuring fair and equitable wage practices.  Impacts, risks, and opportunities (IRO) overview  Time  Value  horizon  chain  Policies,  Description  SMLstep  actions, targets  Metrics  Progress in 2024/25  SOCIAL - S1 &amp; S4 - CYBERSECURITY AND DATA PRIVACY  Material risk: AAs a medical device company, we are exposed to cybersecurity threats. While we do not directly process  • • •  ↑↓Information Security Policy,  Ppatient or healthcare organization (HCO) data, any mishandling of internal or customer-related information could lead to  Marketing Policy  legal risks, reputational damage, and regulatory penalties. To mitigate these risks, we strictly adhere to GDPR and similar  Our actions  Our actions related to Consum-  Read more under Data  regulations, and we continuously work to safeguard data privacy across all operations – including the protection of our  Arelated to  ers &amp; end users, p. 121  employees' data.  Consumers &amp;privacy, data safety and  end users,  cybersecurity, p. 121.  TNo targets were set for cyber-  p. 121  security and data privacy this  financial year  SOCIAL - S4 - ACCESS TO INFORMATION AND RESPONSIBLE MARKETING  Positive impact: We have a positive impact for consumers and end users by providing clear, accessible product information  • • •  ↓Information Security Policy,  Pand upholding responsible marketing practices. Every product comes with detailed manuals to support safe and effective use.  Marketing Policy  Through our Marketing Policy, we ensure transparency and prioritize safety in all our communications.  Our actions  Read more about our  Material risk: Given the critical role our devices play in clinical settings, we recognize that product failures or safety issues  • • •  ↓AOur actions related to Consum-related to  QMS under Quality  can lead to recalls, regulatory scrutiny, and reputational damage. To mitigate this risk, we provide clear, comprehensive  ers &amp; end users, p. 121  Consumers &amp;standards for our prod-  manuals for every product and uphold rigorous quality and safety standards, in line with our quality management system  end users,  ucts, p. 121. Responsi-  No targets were set for access  (QMS), throughout the entire product lifecycle.  Tp. 121  ble marketing, p. 121.  to information or responsible  marketing and data privacy this  financial year  SOCIAL - S4 - PRODUCT ACCESS AND AFFORDABILITY  Negative impact: Our operations span multiple countries, and due to the pricing of our products, access for end users can  • • •  ↓Quality Policy,  Pvary, depending on local market conditions. We recognize this negative impact, and remain committed to addressing  Healthcare Professionals  disparities wherever possible.  Engagement Policy  Our actions  Positive impact: We have a positive impact on end users by empowering healthcare professionals to diagnose patients early  • • •  ↓Our actions related to Consum-related to  Read more under  Aand by ensuring the quality and affordability of our solutions, helping millions of patients around the world.  ers &amp; end users, p. 121  Consumers &amp;Providing innovative  end users,  solutions, p. 121.  Material opportunity: We have an opportunity to strengthen our partnerships with healthcare professionals to boost  • • •  No targets were set for access  ↓Tp. 121  efficiency and help deliver better care to more patients.  to information or product  access and affordability this  financial year  Time Horizons:S Short termM Medium term  LLong term  Value chain: ↑ Upstream  Own operations↓ Downstream  PPolicies  AActions  TTargets  Impacts, risks, and opportunities (IRO) overview  Time  Value  horizon  chain  Policies,  Description  SMLstep  actions, targets  Metrics  Progress in 2024/25  SOCIAL - S4 - PERSONAL SAFETY OF CONSUMERS AND END USERS  Potential negative impact: We acknowledge that any failure to meet safety or performance standards can negatively impact  • • •  ↓Quality Policy,  Pour consumers and end users. As a medical device company, we understand that product malfunctions or unclear usage  Healthcare Professionals  Our actions  instructions could compromise patient safety. While product recalls are rare, they have the potential to disrupt clinical work-  Engagement Policy  Read more about our  related to  flows and affect trust in our brand.  QMS under Quality  Consumers &amp;  standards for our prod-  Material risk: Product failures or safety issues can lead to recalls, regulatory scrutiny, and reputational damage. This risk  • • •  Our actions related to  end users,  ↓Aucts, p. 121.  is heightened by the critical role our devices play in clinical settings. To mitigate it, we ensure that all our products include  Consumers &amp; end users p. 121  p. 121  clear, comprehensive manuals, and that we adhere to strict quality and safety standards, in line with our QMS, throughout  the entire product lifecycle.  GOVERNANCE - G1 - CORPORATE REPORTING AND BUSINESS CONDUCT  Positive impact: We enhance stakeholder trust and support informed decision-making by ensuring our reporting is accessi-  • • •  ↑↓Code of Conduct (for  Pble, transparent, and grounded in strong governance principles. By prioritizing ownership, transparency, and data credibility,  employees)  we set a high standard for corporate reporting and contribute to raising expectations across the industry.  99% Code of Conduct  Potential negative impact: Inaccurate or misleading reporting can potentially undermine stakeholder confidence, damage  • • •  G1 - Business conduct, p. 124  ↑↓ACode of  completion.  our reputation, and compromise the integrity of our governance practices, potentially leading to long-term reputational and  Conduct  financial consequences.  training  98% of suppliers have  Material risk: Failure to ensure accurate, transparent, and credible reporting exposes us to risks, such as greenwashing alle-  • • •  100% of all white-collar  completion  signed our Code of  ↑↓Trates, p. 124  Conduct for Business  gations, regulatory fines, legal liabilities, and erosion of trust from investors and other stakeholders.  employees to have completed  training on Ambu's Code of  Partners.  Material opportunity: Robust and transparent reporting can unlock access to green-linked financing, improve eligibility for  • • •  ↑↓Conduct  sustainability-focused tenders, strengthen stakeholder trust, and enhance our employer brand by demonstrating account-  ability and leadership in responsible business conduct.  Impacts, risks, and opportunities (IRO) overview  Time  Value  horizon  chain  Policies,  Description  SMLstep  actions, targets  Metrics  Progress in 2024/25  GOVERNANCE - G1 - CORRUPTION AND BRIBERY, INCLUDING PROTECTION OF WHISTLEBLOWERS  Negative impact: Any instances of corruption or conflict of interest undermine our ethical standards and can erode stake-  • • •  ↑↓Speak Up - Integrity Line Policy,  Pholder trust, damaging the our reputation and credibility. Failing to protect whistleblowers may discourage reporting and  Anti-Corruption &amp; Bribery  expose us to regulatory penalties and reputational harm.  Policy,  99% of Code of Conduct  Code of Conduct  Code of  completion.  Conduct  Material risk: Corruption represents a material risk that, if not proactively mitigated through strong controls, training, and  • • •  ↑↓AG1- Actions and trainings  training  98% of suppliers have  whistleblower protection, can result in legal consequences, financial penalties, and exclusion from tenders or partnerships –  related to corruption and  completion  signed our Code of  particularly in high-risk markets.  bribery  rates, p. 124  Conduct for Business  100% of all white-collar employ-  Partners.  Tees to have completed training  on Ambu's Code of Conduct  GOVERNANCE - G1 - CORPORATE REPORTING AND BUSINESS CONDUCT  Potential negative impact: Failure to follow our Procurement Policy and payment terms can potentially strain supplier rela-  • • •  ↑↓Global Procurement Policy  Ptionships, disrupt sourcing, and negatively affect workers’ livelihoods – particularly in regions where suppliers rely on timely  payments to ensure fair wages and operational stability.  Positive impact: Our purchasing practices influence environmental and social outcomes across our supply chain. By  • • •  G1 - Actions related to  ↑↓Aenforcing ethical sourcing, human rights, and carbon reduction through our Responsible Supplier Program and audits, we  Responsible Supplier Program,  Payment  98% of payments were  drive positive change and raise standards among suppliers and local communities.  p. 125  practices to  made within the agreed  Material risk: Maintaining a strong supply chain oversight is critical for us. Weak supply chain oversight can lead to quality  • • •  No targets were set for supplier  suppliers,  payment term.  ↑↓Tp. 126  issues, traceability gaps, and exposure to scarce materials, resulting in regulatory fines, reputational damage, and revenue  relationship management this  loss, especially in the medical device sector where compliance is critical.  financial year  Material opportunity: Our supplier Code of Conduct, Responsible Supplier Program, and regular audits provide leverage to  influence supplier practices, particularly in evolving markets, strengthening resilience, ensuring compliance, and enhancing  sustainability performance across the value chain.  Ambu’s policies  We continuously monitor effectiveness, with actions reported alongside relevant disclosures. Policies are disclosed under each topic on the following pages.  Governance  ESRS standards  Impacted  (most senior person  Systems, procedures,  Policy  Area of application  Availability  stakeholders  overseeing policy)  Value chain  Description  guidelines  Scope of policy  Code of Conduct  ESRS S1, ESRS S2,  Corporate  Employees,  Senior Director,  The Ambu Code of Conduct sets minimum  Local employee  Group  ↑↓ESRS G1  intranet  regulators &amp;  Sustainability and  standards for integrity, based on international  handbooks  Approved in  autorities  Risk &amp; Compliance  principles. Violations are reported through  Compliance management  May 2024  various channels, including our Speak Up -  systems  Integrity Line. It promotes anti-discrimination,  anti-harassment, and a safe and healthy workingEnterprise Risk  environment by complying with health and safetyManagement (ERM)  regulations.  framework  Code of Conduct forESRS S2, ESRS G1  Corporate  Customers,  Senior Director,  ↑ ↓  The Ambu Code of Conduct for Business Part-  Code of Conduct  Group, suppliers,  Business Partners  intranet  employees, suppliersSustainability and  ners defines the basic requirements set for  declaration form  business  Risk &amp; Compliance  any person or entity doing business with, or on  relationships  Responsible Supplier  Approved in  behalf of Ambu, with respect to its responsibi-  Program  August 2024  lities toward our stakeholders, employees, and  business partners to conduct business in an ethi-Business partners integrity  cal, legal, and socially responsible manner.  due diligence program  Labor &amp; Human  ESRS S1, ESRS S2  Corporate  Employees,  Senior Director,  The policy defines the labor and human rights  Human &amp; labor rights  Group, suppliers,  ↑Rights Policy  intranet  suppliers, regulatorsSustainability and  standards, to which all employees are entitled,  guidelines  business  &amp; autorities  Risk &amp; Compliance  irrespective of the country in which they work,  relationships  UK Modern Slavery Act  Approved in  and represents our expectations toward our busi-  Statement  November 2023  ness partners and value chain workers.  Anti-Bribery &amp;  ESRS G1  Corporate  Customers,  Senior Director,  This policy addresses various types of corrup-  Enterprise Risk  Group, suppliers,  ↑↓Corruption Policy  intranet  employees,  Sustainability and  tion and bribery to obtain an unfair advantage. ItManagement (ERM)  business  suppliers, regulatorsRisk &amp; Compliance  describes various types of corruption and briberyframework  relationships  Approved in  &amp; autorities  applicable to the business of Ambu, as well as  Internal guidelines  June 2022  guidelines on how to act appropriately. The poli-  for interactions with  cy is consistent with the UN Convention against  Healthcare Professionals  Corruption and all relevant regional legislation.  (HCPs)  Business Partners Integrity  Due Diligence Program  Value chain: ↑ Upstream  Own operations↓ Downstream  Ambu’s policies  Governance  ESRS standards  Impacted  (most senior person  Systems, procedures,  Policy  Area of application  Availability  stakeholders  overseeing policy)  Value chain  Description  guidelines  Scope of policy  Speak Up – IntegrityESRS S1, ESRS S2,  Ambu  Customers,  Senior Director,  This policy describes Ambu’s commitment to  Ambu Speak Up – IntegrityGroup, suppliers,  ↑↓Line Policy  ESRS S4, ESRS G1  website &amp;  employees,  Sustainability and  maintaining the highest ethical standard of busi-Line  business relation-  corporate  suppliers, investors,Risk &amp; Compliance  ness and offering guidance for Ambu employees  ships  Ambu Integrity Line  Approved in  intranet  society  and business partners in terms of how to act  Committee  April 2024  when faced with suspicions or concerns about  criminal offences, violations of Ambu’s Code  of Conduct and policies, as well as other seri-  ous violations of law or regulations that govern  Ambu’s operations.  Anti-Retaliation  ESRS S1, ESRS S2,  Ambu  Customers,  Senior Director,  This policy describes Ambu’s commitment to  Group, suppliers,  ↑↓Policy  ESRS S4, ESRS G1  website &amp;  employees,  Sustainability and  ensuring that any individual who, in good faith,  business relation-  corporate  suppliers, investors,Risk &amp; Compliance  reports a misconduct or violation, who partici-  ships  Approved in  intranet  regulators &amp;  pates in an investigation, does not experience or  November 2020  autorities  suspect retaliation against themselves or others.  Quality Policy  ESRS S4  Ambu  Customers,  Vice President, Global  This policy sets the framework for our commit-  Global Quality  Group  ↓website &amp;  employees,  Quality Management  ment to maintaining high quality in all Ambu  Management System  Approved in  corporate  regulators &amp;  products and processes, and to complying with  (QMS)  November 2021  intranet  autorities  all applicable regulatory requirements across all  Ambu sites.  Information SecurityESRS S4  Corporate  Customers,  Chief Information  This policy describes information security  Information Security Risk  Group, suppliers,  ↑↓Policy  intranet  employees,  Security Officer  objectives and Ambu’s risk-based approach to  Management system  business relation-  suppliers, investors,  information security. It defines the responsibility  ships  Approved in  regulators &amp;  for implementation and compliance with legal,  April 2023  autorities, society  regulatory, and contractual requirements that our  organization is subject to.  Data Ethics Policy  ESRS S4  Ambu  Customers,  Senior Director,  This policy describes how information about  Privacy Statement  Group  ↑↓website  employees,  Sustainability and  individual persons may be collected, used,  Approved in  suppliers, investors,Risk &amp; Compliance  disclosed, transferred, and stored by Ambu.  November 2021  regulators &amp;  autorities, society  Ambu’s policies  Governance  ESRS standards  Impacted  (most senior person  Systems, procedures,  Policy  Area of application  Availability  stakeholders  overseeing policy)  Value chain  Description  guidelines  Scope of policy  Global ProcurementESRS G1  Corporate  Customers,  Vice President, Global  This policy sets the direction for Ambu’s global  Responsible Supplier  Group, suppliers  ↑ ↓  Policy  intranet  employees, suppliersProcurement  procurement activities, with the purpose of  Program  ensuring compliance with principles and  Global Quality  Approved in August  applicable rules and regulations, as well as  Management System  2020  incorporation of environmental and social  (QMS)  aspects in purchasing decisions, while allowing  Ambu to meet its business objectives.  Ambu  ESRS E1, ESRS E5  Corporate  Customers,  Senior Director, Sus-  This policy describes our commitments to  Climate transition plan,  Group  ↑↓Environmental  intranet  employees,  tainability and Risk &amp;  minimizing our climate impact and promoting  EU Taxonomy screening  Policy  suppliers, regulatorsCompliance  circular use of resources across our value  of eligible and aligned  &amp; autorities, society  chain. It embeds our commitment to reducing  activities  Approved in August  greenhouse gas emissions in line with the Paris  2025  Agreement, while optimizing energy efficiency  and transitioning to renewable sources. Through  responsible product design, sustainable  sourcing, and waste reduction initiatives, we  support a circular economy and ensure efficient  use of materials and resources.  Global Diversity,  ESRS S1  Corporate  Employees  Chief People Officer  This policy describes our commitment to  Local employee handbooksGroup  Equity, and Inclusion  intranet  ensuring diversity, equity, and inclusion, which  Policy  rests on our company values, our commitment  to the United Nations Global Compact, and  our Code of Conduct. It includes Ambu’s  commitment to diversity in management,  inclusion, and gender pay equality, as well as our  approach to attracting talent.  Ambu  ESRS S4  Corporate  Customers,  Director, Corporate  ↓This policy ensures we prioritize respectful,  Communication guidelinesGroup, business  Communication  intranet  employees,  Communications  credible, and consistent communication that is  partners  Policy  suppliers, investors,  globally accessible. We aim to strengthen rela-  regulators &amp;  tionships with customers, employees, sharehold-  Approved in July 2022  autorities, society  ers, partners, and other stakeholders through  open and transparent dialogue. It applies to all  consumers and end users worldwide.  Ambu’s policies  Governance  ESRS standards  Impacted  (most senior person  Systems, procedures,  Policy  Area of application  Availability  stakeholders  overseeing policy)  Value chain  Description  guidelines  Scope of policy  Ambu’s Policy on  ESRS S4  Corporate  Customers,  Vice President,  This policy ensures we provide products at no  General principles for  Group  ↓Demonstration  intranet  employees  General Counsel  charge to HCPs and HCOs solely for evalua-  demonstration of products,  Products and  tion purposes, enabling informed future use.  samples, and evaluation  Samples  All offerings must comply with national laws,  of products; Products:  regulations, and industry codes. We must not  specific principles for  Approved in  improperly influence HCPs or HCOs to pur-  demonstration; Products:  July 2022  chase, recommend, or use our products. Demo  specific principles for  products – whether single use or reusable – are  samples,  intended only to support familiarization and  Specific principles for  proper assessment. This approach safeguards  evaluation of products  ethical and compliant marketing practices.  Global EngagementESRS S4  Corporate  Customers,  Senior Director,  This policy ensures we maintain procedures  Interactions with  Group, suppliers,  ↓of Health Care  intranet  employees  Sustainability and  to comply with applicable laws, regulations,  Healthcare Professionals  business partners  Professionals Policy  Risk &amp; Compliance  and industry standards when engaging HCPs.  It governs all global interactions between our  Approved in  employees and HCPs. To uphold product quality  September 2023  and expertise, we may engage specialists for  services such as product development, scientific  exchange, awareness-building, and training.  This policy does not override national laws. We  adhere to transparency and disclosure require-  ments in markets such as the U.S., Denmark,  France, and Belgium.  Marketing Policy  ESRS S4  Corporate  Customers,  Vice President,  This policy ensures we align our marketing prac-Local marketing guidelinesGroup  ↓intranet  employees  General Counsel  tices with local laws in key markets – Denmark,  as per relevant national  Modified in  France, Germany, Italy, Spain, the UK, and the  legislation  February 2024  U.S. It sets standards for post-launch marketing,  targeting HCPs, HCOs, and end users, requiring  all communications to be accurate, factual, and  aligned with product use.  We also follow electronic marketing laws and  protect personal data in outreach activities.  ENVIRONMENT  We are accelerating the shift to sustainable healthcare. With our SBTi  commitment targeting net-zero by 2045, we are embedding circularity  and climate action across our operations. This year, we launched the  world's first endoscope recycling program and advanced our circular  design efforts to help customers reduce their environmental footprint.  2024/25 highlights  1st  550  49%  tonnes  Launch of the world’s first  Total CO2e carbon saving  of total electicity  endoscope take-back  for all customers from using  used comes from  and recycling program:  Ambu endoscope with  renewable electicity  Ambu® Recircle Program  bioplastics in the handle  E1 CLIMATE CHANGE  ADAPTATION AND  MITIGATION  At Ambu, building a net-zero future is central to our strategy. We are  committed to decoupling business growth from carbon emissions  by embedding sustainability into our product design, sourcing,  and manufacturing. Guided by our Environmental Policy, we focus  on climate change mitigation, adaptation, energy efficiency, and  renewable energy as part of our decarbonization pathway.  Our approach  Impacts, risks, and opportunities  As a global leader in medical device manufactur-  ing, we recognize our responsibility to address  negative climate and environmental impacts  associated with our sourcing, manufacturing, and  distribution activities. Our operations, serving  customers worldwide, inevitably contribute to  climate change and environmental challenges. In  alignment with our ZOOM AHEAD strategy, we  are taking decisive actions to decarbonize our  own operations and collaborate with suppliers  to reduce GHG emissions throughout our value  chain.  Within our strategic framework, we have identi-  fied manufacturing and logistics activities that  currently rely on fossil-based energy sources,  high-emission logistics, and the use of virgin  raw materials. These dependencies – detailed in  references E1-5, E1-6, E5-3, and E5-4 – are not yet  fully compatible with a climate-neutral economy.  By directly targeting these areas, we are imple-  menting initiatives that facilitate our transition to  more sustainable solutions, thereby maintaining  the resilience and forward-looking nature of our  business.  This year, a significant proportion of our GHG  emissions – 91% – originate from upstream and  downstream value chain activities (scope 3),  encompassing sourcing, services, and distribu-  tion of our solutions. Emissions from our direct  operations (scope 1 and scope 2) constitute a  smaller portion, accounting for around 9% due  to ongoing progress on our SBTi targets. While  our emissions contribute to global warming, we  recognize that our climate mitigation efforts may  expose us to transition risks, including reputa-  tional impacts from a potential increase of emis-  sions. We remain committed to proactively  addressing these challenges as part of our  ongoing sustainability strategy of decoupling our  growth from our environmental footprint.  Our commitment to climate change mitigation  drives our continuous assessment of weather-  related hazards and their potential impact on  operations, employee safety, workers in the  value chain, as well as on our patients’ health and  well-being if access to our products is disrupted.  Our current resilience analysis indicates that the  most severe climate-induced weather events  are primarily local and unlikely to pose a mate-  rial financial risk at present, and we maintain a  vigilant approach.  We conducted our resilience analysis this finan-  cial year. We regularly assess how negative phy-  sical climate impacts may affect our global oper-  ations and value chain, ensuring our business  strategy strengthens resilience and long-term  value for stakeholders through climate adapta-  tion and mitigation. Our strategy and ongoing  assessments help us remain adaptive, trans-  parent, and responsive in addressing the impacts  of climate change. We screen our activities  quarterly to assess actual and potential climate  impacts, in line with our Climate transition plan  and EU Taxonomy reporting framework. We track  our GHG emissions by monitoring our direct  emissions and energy consumption across our  facilities, as well as emissions in our upstream  and downstream value chain, through supplier  data, activity data, and financial spend data.  Climate change mitigation and adaptation are  significant considerations in our resilience  analysis, risk management process and systems,  and DMA. We considered likelihood, magnitude,  duration, and overall hazards. Short-term and  medium-term risks are assessed across business  areas, while long-term risks are assessed as part  of our company-wide risk identification process  in line with TCFD. Our resilience analysis com-  bines internal and external risk tools, geospatial  production site data (considering geospatial  coordinates specific to Ambu’s locations, as well  as related planetary boundaries), and findings  from the latest IPCC report, which serves as a  baseline for evaluating potential hazards. Mate-  rial climate risks were assessed using timeframes  and methodologies from the TCFD and NGFS, in  line with DMA. Climate-related risks are expected  to materialize in the long term (five years or  more), as disclosed in the Basis for Preparation,  p. 58. Based on these scenarios, Ambu has iden-  tified both transitional and physical risks linked to  climate change.  After evaluating the physical risks relevant to  Ambu, it has been determined that the likeli-  hood of significant climate change impacts is  intermediate-to-high for our company. Although  we believe that the local mitigation activities  and monitoring of these risks make Ambu well  positioned to manage these risks in the Orderly  (1.5°C), Disorderly (2°C), and Hot House World  scenarios (3+/4°C), we must remain attentive to  changes in severity and frequency caused by  climate change to ensure that we continue to  manage these risks adequately. The latest IPCC  report serves as a reference point for this analy-  sis, highlighting immediate high or very high risk  of damage to infrastructure and key economic  sectors and production sites in North America,  as well as immediate high or very high risk of  flood or storm-related damage in coastal areas  of Asia (impacting production facilities in Malay-  sia and China). While local mitigation efforts  strengthen our preparedness, we remain vigilant  as risk profiles evolve.  Most transition risks relate to market and reputa-  tion-based factors that are financially material to  Ambu. These risks were analyzed using geospa-  tial coordinates specific to Ambu’s locations, as  well as local regulatory developments concern-  ing carbon trading, carbon pricing, the transition  to a low-carbon economy, energy supply security,  raw material costs, labor expenses, and reve-  nue fluctuations under different scenarios and  global warming models. We reviewed Ambu’s  strategy and financial planning, as well as the  management of climate-related risks and oppor-  tunities, to identify key areas for transitioning to  low-carbon operations. As part of our DMA, we  conducted interviews regarding the business  resilience of our operations and offices under  various scenarios. Our risks include:  • Hightemperatures affecting our operations  and employees.  • Extremeweather conditions, such as heavy  rains, floods, cyclones, and other natural disas-  ters, leading to supply chain disruption.  • Increasedcompliance requirements and  demand for more sustainable products and  packaging.  To enhance the resilience of our business and  operations, insights on IROs derived from the  DMA are integrated into our risk management  calibration process. This enables a comprehen-  sive estimation of effects on revenue, costs,  reputation, and compliance. Risks are reported  quarterly and addressed at various levels of the  organization, including by the BoD and the ELT, to  ensure that our DMA accurately reflects their true  impact. This approach captures the financial risks  and opportunities associated with sustainability  considerations.  Our approach to risk mitigation falls into two  categories:  1. Reducing short-term operational risks  These risks mainly relate to possible disruption  from extreme weather events. We mitigate  them by developing contingency plans or  back-up solutions for production and logistics.  2. Reducing long-term operational risks  These risks largely relate to the impact of cli-  mate change on local societies, such as politi-  cal instability, increased poverty, and social  unrest or conflict. This could impact the ability  to maintain stable production in our sourcing  countries. We closely monitor developments in  our sourcing countries and have contingency  plans in place.  We used the same scenario analysis to identify  opportunities as we did for risks. We identified  the following opportunities:  1. Building a more sustainable, customer-  centered circular business model  Growing awareness of climate change is  expected to impact customer preferences, with  an increased preference for products with low  climate change impact from trusted compa-  nies that are seen as leaders in sustainability.  This could reduce our environmental impact  and open new revenue streams that comple-  ment the traditional business model.  2. Decarbonization of single-use endoscope  production to reduce the impact of carbon  taxes and higher energy prices  Our emission reduction targets could create a  competitive advantage, largely by reducing the  impact of future climate legislation or emission  taxes.  The analysis is subject to uncertainties related  to the pace of regulatory change, technological  advancement, and socio-economic develop-  ments. Simplified modeling tools may overstate  or understate risks, especially in regions with  limited data granularity.  Read more about our DMA on pp. 64-67.  Read more about our risk management process  on pp. 37-41.  Climate transition plan  We are dedicated to responsible operations and  have publicly committed to achieving our SBTi-  aligned net-zero target by 2045, see pp. 82-84.  With the record-breaking global temperatures  underscoring the urgent need for climate action,  we aim to lead by cutting emissions through  innovative, circular products, recycling initiatives,  renewable energy use, and setting sustainability  standards in the MedTech industry and beyond  by fostering sustainability across the entire  healthcare sector.  To achieve this, we have developed a Climate  transition plan that outlines our strategic  approach to mitigating GHG emissions across  our value chain. This plan is aligned with a 1.5°C  scenario under the Paris Agreement and the  SBTi, and it forms an integral part of our ZOOM  AHEAD strategy. It is designed to support long-  term value creation, manage transition risks, and  ensure regulatory alignment, including the ESRS  reporting standards. The Climate transition plan  is guided by the TCFD, the GHG Protocol, and the  SBTi framework. It was approved in August 2025  by Ambu’s ELT and BoD and is reviewed annually  to ensure continued alignment with evolving sci-  ence, regulation, and stakeholder expectations.  We have considered a diverse range of climate  scenarios to identify relevant environmental,  societal, technological, market, and regulatory  developments. This analysis has informed our  understanding of potential transition and phy-  sical risks, and guided the identification of key  decarbonization levers across our operations  and value chain. The scenarios support strategic  planning and help ensure resilience in the face of  evolving climate-related challenges.  As we accelerate our efforts toward reaching net  zero, we are focusing on three primary levers  to reduce emissions across our operations and  product lifecycle:  1. Circular products &amp; packaging:  Designing products and packaging with sus-  tainability, recyclability, and reuse in mind. Read  more on Our actions related to resource use &amp;  circular economy, p. 98.  2. Take-back &amp; recycling:  Establishing systems to recover and recycle used  products, reducing landfill waste, and resource  use. Read more on Our actions related to  resource use &amp; circular economy, p. 98.  3. Responsible operations:  Read more about how we operate in line with  environmental sustainability in Responsible  operations, p. 83.  In our operations, we are implementing energy  efficiency upgrades, conducting site-specific  energy audits, and transitioning to renewable  energy sources. This financial year, 49% of our  total electricity consumption was sourced from  renewables, supported by ongoing solar genera-  tion and RECs. Our goal is to reach 100% renew-  able electricity across all operations, including  manufacturing and all sites. We are also explor-  ing low-carbon energy sources and decarboniza-  tion technologies to further reduce scope 1 and 2  emissions beyond 2030.  In our value chain, we are engaging suppliers  through procurement strategies and climate  dialogues to encourage emission reductions  and renewable energy adoption. We are also  transitioning to low-impact raw materials, opti-  mizing transportation, and scaling our circular  product and packaging ecosystem. Our pioneer-  ing Ambu® Recircle Program is being expanded  to recover and process used medical devices,  reducing waste and supporting circular economy  in the hospitals and the healthcare sector. Read  about our actions, allocated resources, and their  linkage to material IROs in Our climate change  mitigation actions, p. 83. A visual overview of our  Climate transition plan can be found on p. 82.  Our GHG emissions accounting is based on a  robust calculation model aligned with the GHG Pro-  tocol and SBTi methodologies. In 2024/25, we con-  solidated our GHG emissions accounting practices  to ensure consistency and transparency across all  scopes. We have updated our climate-related  scenario analysis to assess both transition and  physical risks.  Our potential locked-in GHG emissions are limi-  ted, but relevant in relation to our partially fossil  fuel-powered equipment at our production sites,  which we are working to convert to electricity  whenever possible. No significant CAPEX has  been identified for activities that are coal-related,  oil-related, or gas-related.  Climate-related investments are integrated into  our regular financial planning. Over the next  five years, a share of our capital will be invested  into sustainability projects, including renewable  energy infrastructure, advanced recycling sys-  tems, and circular product and packaging deve-  lopment. These investments are critical to achiev-  ing our climate targets and ensuring long-term  business resilience. Ambu’s Climate transition  plan is a living document. As we progress toward  our 2030 and 2045 targets, we will continue to  strengthen our governance, data systems, and  internal capabilities. We remain committed to  transparency, accountability, and continuous  improvement as we work to decarbonize our  business and contribute to a sustainable health-  care system.  Environmental Policy  Ambu’s Environmental Policy reflects our com-  mitment to delivering safe, high-quality medi-  cal solutions, while minimizing environmental  impact through climate mitigation aligned with  SBTi, circular economy principles across the  value chain, and decarbonization levers detailed  in the section Levers to reduce global emis-  sions, p. 82. Read more on our Environmental  Policy in Ambu's policies, p. 75.  Key levers to reduce total GHG emissions  As we accelerate our efforts toward reaching net zero, we are  focusing on three key levers to reduce emissions across our  operations and product lifecycle. These levers serve as the key  pillars of our decarbonization strategy and can be further broken  down into more granular decarbonization levers, projects, and  investments that will enable implementation of our Climate  transition plan and targets. Our sections about actions provide  details about specific projects under our key levers.  Lever 1  CIRCULAR PRODUCTS  &amp; PACKAGING  Designing products and packaging with  sustainability, reuse, and recyclability  in mind. Read more on this in Our  resource use &amp; circular economy  actions, p. 98.  Lever 2  TAKE-BACK  &amp; RECYCLING  Establishing systems to recover and  recycle used products, reducing waste  and resource use. Read more on this in  Our resource use &amp; circular economy  actions section, p. 98.  Lever 3  RESPONSIBLE  OPERATIONS  Improving energy efficiency and increasing  our use of renewable energy across all  sites. Read more about our Responsible  operations, p. 83.  Transition to renewable energy (scope 2)  In 2024/25, we continued to advance our climate mitigation  efforts by investing in renewable energy and energy efficiency  across our global operations.  As part of our ZOOM AHEAD strategy, we allocated capital to  install solar panels at our headquarters in Denmark and at our  production site in Mexico, building on previous deployments  in Germany, Malaysia, UK and Denmark. In addition to  infrastructure investments, we dedicated operational  resources to maintaining these systems, conducting energy  audits, and implementing energy-saving initiatives across  our sites. We also invested in employee training and digital  tools to monitor and reduce energy consumption. These  efforts directly contribute to our scope 2 emission reductions,  achieving a reduction of 43% this year compared to the  baseline year, with expected reductions of 100% by 2045.  This initiative remains ongoing.  Progress on our energy efficiency is measured  quarterly and reported under Energy, p. 85.  Renewable electricity certificates (scope 2)  We are committed to reducing scope 2 emissions and sup-  porting the global transition to renewable energy.  During 2024/25, we invested in Renewable Energy Certifi-  cates (RECs) covering a portion of the electricity consumed  at our facilities in the USA, Malaysia, and China. We use RECs  as a contractual instrument to source renewable electricity  and reduce our market-based emissions. Combined with our  existing solar installations, this strategy helps us maximize  renewable electricity share across our global operations. We  worked closely with our Global Operations teams to ensure our  approach aligns with international standards, such as I-REC  and Green-e, reinforcing the credibility and traceability of our  renewable energy sourcing. This initiative remains ongoing.  Progress on our energy efficiency is measured quarterly and  reported under Energy, p. 85.  Decreased emissions from high-impact  sourcing categories (scope 3, category 1)  Our scope 3, category 1 emissions have decreased, in part due  to refinements in our calculation methods and the incorpora-  tion of supplier-specific emission factors.  This improvement has resulted in a decreased in scope 3 emis-  sions specified under our designated Accounting policy, pp.  89-90. These decrease is reflected in our reported figures and  is expected to continue in the upcoming financial years, as we  remain committed to transitioning toward an increase of use  of primary data. We have implemented this initiative across our  upstream value chain, supported by two dedicated FTEs who  oversee its execution.  Read more on how we incorporated this methodology under  Our carbon footprint, pp. 86-87.  Carbon reduction targets  To mitigate our environmental impact, we are  committed to reducing carbon emissions across  our entire value chain.  In December 2023, the Science Based Targets  initiative (SBTi) validated and published Ambu’s  near-term carbon reduction targets for scope 1,  2, and 3 emissions. These targets are aligned  with the Paris Agreement’s goal of limiting the  global temperature rise to 1.5°C and apply to the  entire company and our value chain.  Ambu has committed to reducing absolute  scope 1 and 2 GHG emissions (market-based) by  75% by the 2029/30 financial year, using 2020/21  as the base year. For scope 3, we aim for 82% of  our suppliers to set SBTi-validated targets by the  2026/27 financial year. These targets have been  approved by our ELT and BoD, are governed  through our Environmental Policy, and are over-  seen as a strategic priority by the ELT.  In 2025, Ambu officially committed to a net-zero  target, setting out to achieve net-zero green-  house gas emissions across our value chain by  2045. Our 2045 net-zero target will be covering  all emissions under scopes 1, 2, and 3, aiming to  reduce absolute scope 1 and 2 emissions 100%  and scope 3 emissions by at least 90% by FY  2045/2046, against our 2020/21 baseline. When  designing the targets, the scope 3 projections  were based on growth forecasts aligned with  anticipated production volumes and expansion  plans between 2024/25 and 2045. Selected  suppliers and business units contributed to  identifying and assessing decarbonization levers.  Progress toward these goals depends on the  availability of low-carbon technologies and mate-  rials that meet quality standards.  Ambu’s decarbonization strategy is detailed in  our climate transition plan, which is then embed-  ded in our ZOOM AHEAD strategy. This inte-  gration ensures that our climate ambitions are  aligned with our long-term growth objectives and  operational priorities. As we expand our reach  in the healthcare sector, we remain focused on  decoupling business growth from emissions –  particularly through circular products and pack-  aging design, underscoring our commitment  to serving more healthcare professionals, while  lowering the environmental impact of hospitals.  We currently anticipate total scope 3 reductions  of approximately 160,000 tonnes CO₂e by 2045  to reach net zero. This figure includes both  projected emissions growth and planned initia-  tives, with around 100,000 tonnes CO₂e already  attributed to circular products and packaging  efforts, including Ambu® Recircle Program. This  leaves an estimated gap of 60,000 tonnes CO₂e,  which we aim to close by scaling existing mea-  sures and exploring new opportunities, such  as advancements in production technology. In  addition, we project reductions of 25,000 tonnes  CO₂e in scope 1 and 2 emissions by 2030, driven  by our Responsible Operations lever. A visual  overview of our decarbonization trajectory is  presented on p. 82.  Despite continued business growth, our emis-  sions decreased by 3% this year – reflecting the  tangible impact of our decarbonization efforts.  As a growth-oriented company, we anticipate a  mild increase in total greenhouse gas emissions  through 2030, relative to the unadjusted 2020/21  baseline. This anticipated rise would be driven by  expansion activities and the timing of our decar-  bonization efforts.  Post-2030, emissions are expected to decline  as the targeted mitigation measures – already  being implemented – begin to take full effect.  We expect this downward trajectory to continue  as we progress toward achieving our net-zero  commitment.  We currently do not use carbon offsetting as a  way of reducing our emissions. Our long-term  target is to achieve net-zero by 2045 and balance  out any remaining emissions with permanent  carbon removals/offsets/credits.  Ambition  Decouple our environmental  footprint from business  growth by ensuring that  scaling operations do  not result in proportional  increases in emissions or  resource use.  Target  75% 82%  absolute reductionof suppliers  of scope 1 and  engaged to set  scope 2 emissions  SBTi targets  by 2029/30  by 2026/27  Governance  Governed through our Environmental  Policy and overseen as a strategic priority  by the ELT.  Energy  Aligned with our Climate transition plan, Ambu  continued to advance energy-saving and optimi-  zation initiatives throughout 2024/25, as outlined  in the table of key actions at Our climate change  mitigation actions, p. 83. These have led to  a decrease in overall energy consumption by  4.13%, from 61,005 MWh to 58,505 MWh, prima-  rily attributed to energy efficiency improvements  in Malaysia. During this period, renewable energy  – primarily in the form of electricity sourced  through contractual instruments – represented  21,910 MWh or 37% of total energy consump-  tion, which is a significant increase from 25%  last year, with the remaining 63% supplied by  fossil and alternative sources. Since 2020, we  have progressively transitioned our production  sites to renewable electricity through an array of  solutions, including RECs and proprietary renew-  ables. Currently, three production facilities, along  with some of our offices and R&amp;D locations, are  powered by renewable electricity, whose share  this year rose to 49% from 34%, attributed to  purchased 20,367 MWh of RECs.  This is a significant milestone for Ambu and a  strong testament to our progress toward 100%  renewable powered operations. Over the next  years, we will strenghten the resilience of our  offices and operations by installing solar panels  at our HQ office in Denmark and our produc-  tion site in Mexico, together with those already  deployed at our UK, German, and Danish offices,  as well as at our production site in Malaysia.  Our methodology distinguishes between renew-  able and non-renewable sources for electricity,  steam, and heat by classifying only those ener-  gies explicitly identified within supplier contracts  as renewable energy.  To prevent double counting of energy consump-  tion data, we use a centralized platform to export  data and generate tables, ensuring consistency  and accuracy in reporting. These tables cate-  gorize data by location types: production sites,  headquarters, innovation, and sales offices,  enabling a comprehensive and precise analysis  of energy consumption across the organization.  § Accounting policy  Total energy consumption is reported in MWh,  with unit conversions based on the MWh Protocol  cross-sector tool, UK DEFRA conversion factors, and  other recognized sources.  Energy and fuel data from production sites and large  offices are collected quarterly through standardized  reporting. For other entities – such as sales offices,  innovation hubs, and warehouses – data is esti-  mated using energy intensity per m². For company  cars (fuel-based and hybrids), energy consumption  is estimated based on annual driving distance  and DEFRA distance-to-energy conversion factors.  Renewable energy share reflects the proportion of  renewable energy in total energy consumption and is  calculated based on performance data, invoices or  other documentation. RECs quantities are specified  on redemption certificates.  We operate in high climate impact sector, NACE C  32.5.  Energy intensity in high climate impact sectors  Unit  Data  Total energy consumption from activities in high climate impact  sectors (NACE 32.5)  MWh  58,505  Net revenue from activities in high climate impact sectors  DKKm  6,037  Renewable energy production  MWh  1,553  MWh/  Energy intensity in high climate impact sectors  DKKm  0.01  Energy consumption &amp; mix  Unit 2024/25 2023/24  Fuel consumption from coal and products  MWh  00Fuel consumption from crude oil and petroleum products  MWh  5,308  6,013  Fuel consumption from natural gas  MWh  8,020  8,127  Fuel consumption from other fossil sources  MWh  241  207  Consumption of purchased or acquired electricity, heat, steam,  and cooling from fossil sources  MWh  23,026  31,148  Total fossil energy consumption  MWh  36,595  45,496  Share of fossil sources in total energy consumption  %63  75  Consumption from nuclear sources  MWh  00Consumption from nuclear sources  MWh  00Share of consumption from nuclear sources in total energy  consumption  MWh  00Fuel consumption for renewable sources, including biomass  (also comprising industrial and municipal waste of biologic origin,  biogas, renewable hydrogen, etc.)  MWh  00Consumption of purchased or acquired electricity, heat, steam, and  cooling from renewable sources (RECs)  MWh  20,367  13,982  The consumption of self-generated non-fuel energy renewable  energy (solar)  MWh  1,553  1,528  Total renewable energy consumption  MWh  21,910  15,510  Share of renewable energy sources in total energy  consumption  %37  25  Total energy consumption  MWh  58,505  61,005  Our carbon footprint  Ambu is a company focused on decoupling eco-  nomic growth from emissions growth.  This year, despite increased business activities  and high market demand for our live-saving  products, our total GHG emissions decreased  by 3%, compared to last year, with the decrease  observed across all 3 scopes. The decrease is  a result of our decarbonization efforts, such  as optimization of material use in operations,  greener company car fleet, energy efficiency  improvements, and increase of renewable energy  share in our energy consumption. By continued  expansion of our own solar power generation  capacities, supplemented with RECs in our  operations, we expect our scope 1 and scope 2  emissions to further decrease in the upcoming  years. Compared to last year, our scope 3 emis-  sions had a minor decrease of 0.2% this year,  attributed to optimization of material use as well  as refinement in calculation methods and activi-  ty-based data, which contributed to the emission  decrease across a number of categories. The  updated methodology has been systematically  reviewed and refined across the most material  scope 3 categories, representing nearly 82%  of total scope 3 emissions. Updates consist of  transferring key manufacturing categories from  spend-based to activity-based accounting, as  well as adjustments to emission factors and vol-  ume conversions. We also increased the share of  primary data, where approximately 5% of scope  3 emissions for all years were calculated using  primary data sources.  We report market-based scope 2 emissions  based on electricity sourced through contractual  instruments, such as RECs.  In 2024/25, we procured renewable electricity  for three production sites using these instru-  ments. We substantiate all claims with traceable  contracts to ensure accuracy and avoid double  counting.  We report biogenic emissions across all scopes  in line with the GHG Protocol for the first time this  year, amounting to 5,372 tonnes CO₂e.  In scope 1, we include direct emissions from  biofuel or biomass combustion in our vehicles  and facilities. In scope 2, we account for indi-  rect emissions from purchased energy, such  as electricity, heat, steam, or cooling. Scope 3  reflects upstream emissions from the processing  of plant-based feedstock used in bioplastics by  suppliers.  Compared to last year, Ambu achieved a reduc-  tion of 43% in scope 1 and 2 market-based emis-  sions, compared to last year's 23%, attributable  to increased procurement of renewable electric-  ity. This marks significant progress toward our  near-term SBTi target to reduce absolute mar-  ket-based scope 1 and 2 emissions by 75% by  2030, positioning us to achieve a 100% reduction  ahead of the projected trajectory.  Over the past four financial years, we have  successfully reduced our market-based GHG  emission intensity per DKKm revenue by 28%  – a strong testament to our ability to decouple  emissions from business growth. Compared  to the previous financial year, total emissions  decreased 3%, while our business expanded,  and revenue increased in 2024/25, reflecting  improved resource efficiency and a more sustain-  able production footprint. This progress high-  lights our commitment to reducing the environ-  mental intensity of our products, while scaling  operations to serve a growing global customer  and patient base.  Read about our calculation methods and  reported emissions under Our carbon footprint,  p. 86, and relevant accounting policies pp.  89-90.  Baseline  % Change to  Our carbon footprint  Unit  2024/25  2023/24  2022/23  2021/22  2020/21  % Change  baseline SBTiTarget  Scope 1  Gross scope 1 GHG emissions  tCO2e  3,165  3,369  3,945  5,047  4,346  -6  -27  Gross scope 1 GHG emissions from regulated emission trading schemes  %0000000Biogenic emissions (out-of-scope emissions) scope 1  tCO2e  53  00000Scope 2  Gross location-based scope 2 GHG emissions  tCO2e  21,692  23,173  21,202  21,912  19,628  -6  11  Gross market-based scope 2 GHG emissions  tCO2e  10,884  15,400  16,168  16,904  20,106  -29  -46  Biogenic emissions (out-of-scope emissions) scope 2  tCO2e  4,995  5,198  4,729  4,696  4,106  -4  Total scope 1 &amp; 2  Total scope 1 and 2 location-based GHG emissions  tCO2e  24,857  26,541  25,147  26,959  23,974  -6  4Total scope 1 and 2 market-based GHG emissions  tCO2e  14,049  18,769  20,113  21,950  24,452  -25  -43  -75%  Scope 3  Total gross scope 3 emissions*  tCO2e  150,230  150,565  124,687  139,393  125,691  -0.2  20  Significant scope 3 categories  Category 1: Purchased goods and services  tCO2e  106,002  107,150  89,096  102,851  95,665  -1  11  Category 2: Capital goods  tCO2e  6,313  8,269  5,498  5,037  5,130  -24  23  Category 3: Fuel and energy related activities  tCO2e  7,579  8,031  7,443  8,090  5,128  -6  48  Category 4: Upstream transportation and distribution  tCO2e  12,839  10,759  9,478  10,787  9,358  19  37  Category 5: Waste generated in operations  tCO2e  853  801  658  756  753  713  Category 6: Business travel  tCO2e  10,332  8,917  6,330  5,613  2,896  16  257  Category 7: Employee commuting  tCO2e  4,455  4,580  4,235  4,133  4,682  -3  -5  Category 11: Use of sold products  tCO2e  183  92  143  176  277  99  -34  Category 12: End-of-life treatment of sold products  tCO2e  1,673  1,966  1,807  1,951  1,802  -15  -7  Biogenic emissions (out-of-scope emissions) scope 3  tCO2e  324  275  00018  Total GHG emissions  Total location-based GHG emissions  tCO2e  175,087  177,107  149,833  166,351  149,665  -1  17  Total market-based GHG emissions  tCO2e  164,248  169,333  144,799  161,343  150,143  -3  9GHG intensity  Total location-based GHG intensity (total location-based GHG emissions per net revenue)  tCO2e /  DKKm  29  33  31  37  38  -12  -23  Total market-based GHG intensity (total market-based GHG emissions per net revenue)  tCO2e /  DKKm  27  31  30  36  38  -13  -28  § Accounting policy  Scope 1 and 2 emissions  We report GHG emissions in accordance with the  GHGP, covering carbon dioxide - CO₂ and the six  gases from the Kyoto Protocol, expressed as CO₂  equivalents (CO₂e) using their Global Warming  Potential (GWP) for a common basis of measure-  ment. Actual consumption data is used for fuel and  electricity at our four production sites, one R&amp;D  office, and headquarters, while estimated data is  applied to warehouses, additional R&amp;D and sales  offices, and company cars where direct data is  unavailable.  Scope 1 emissions include direct GHG emissions  from sources controlled by Ambu, such as the com-  bustion of natural gas, LPG, and diesel for heating  and stationary engines, as well as fuel consumption  in company cars. Due to incomplete data from our  salesforce vehicles, emissions are estimated using  standardized annual driving distances and fuel-  based conversion factors. Refrigerant refills from  air conditioning and ventilation systems are also  included.  Scope 2 emissions cover indirect emissions from  purchased electricity and heat, reported using  both market-based and location-based methods.  To reduce scope 2 emissions, we use our own  solar power generation capacity, RECs, which are  accounted as zero emissions. Electricity consump-  tion at sales offices and warehouses is estimated  using a standardized kWh per square meter.  Biogenic emissions  Biogenic emissions from scope 1 and 2 are reported  separately, as they are considered carbon neutral  under the GHG Protocol. These include direct emis-  sions from burning biofuels or biomass in our vehi-  cles or facilities, calculated using DEFRA emission  factors for biogenic CO₂. Indirect biogenic emissions  from purchased electricity, heating, or cooling are  estimated using regional emission factors where  available. In the absence of comprehensive data,  Ambu applies a conservative average based on UK  and Danish sources. This tailored methodology,  developed with external advisors, ensures con-  sistency in reporting despite global variability in  biogenic emission factors. Our CO₂ accounting  platform supports this approach until standardized  factors are published by recognized bodies such as  the IEA, at which point they will be incorporated into  future calculations. Scope 3 biogenic emissions are  reported separately and primarily reflect emissions  from the production of bioplastics by our suppliers,  specifically from the processing of plant-based  feedstock. As bioplastics are believed to be the main  source of our scope 3 biogenic emissions, the emis-  sions from other parts of the value chain are consid-  ered immaterial for disclosure. These emissions are  calculated by multiplying the volume of bioplastics  purchased by supplier-provided emission factors.  Scope 3 emissions:  Scope 3 covers the indirect GHG emissions that  occur both upstream and downstream our value  chain.  For certain categories, emissions for the final month  of the reporting period were extrapolated using data  from the preceding eleven months to ensure consis-  tency and completeness.  Prior to disclosure, the scope 3 emissions inventory  underwent a thorough review to ensure complete-  ness and accuracy. This included validation of the  underlying methodology, as well as updates to emis-  sion factors and conversion factors in line with the  latest available data and standards.  Category 1: Purchased goods and services  Emissions are calculated using both quantity and  monetary data across three purchase types:  • DirectPurchases: Raw materials, components,  hardware and services essential to our core busi-  ness operations.  • IndirectPurchases: Goods and services not  directly involved in manufacturing or core business  processes.  • FinishedGoods Purchases: our products pro-  duced by external suppliers through outsourced  manufacturing.  Category 2: Capital goods  Emissions are calculated based on monetary data  from purchases of manufacturing machines, IT  equipment and other larger purchases that deviate  from the purchases made in every financial year.  Category 3: Fuel- and energy-related activities  Emissions are calculated based on energy consump-  tion data, according to the location-based approach  reported in scope 1 and 2, including electricity, dis-  trict heating and various fuels used at our production  sites, headquarters, sales offices, warehouses and  company cars owned by us.  Category 4: Upstream transportation and distribu-  tion  Emissions are calculated based on actual well-to-  wheel CO2e data from supplier-specific reports and  monetary data for other third-party transportation  and distribution services purchased by Ambu. This  includes inbound logistics, outbound logistics and  transfers between own facilities. Transportation of  goods from tier one suppliers to Ambu is implicitly  included in Category 1 and 2, when the transporta-  tion is ensured by the suppliers.  Category 5: Waste generated in operations  Emissions from the treatment of waste and wastewa-  ter generated in operations are calculated based on  the actual waste and water data from our production  sites and headquarters, together with an estimation  of waste and water generated per employee using  HQ data as basis of estimation, multiplied with the  total number of employees in Ambu sales offices.  For waste that is recycled or incinerated with energy  recovery, only transportation-related emissions are  included, as emissions from the recovery process are  considered out of scope.  Category 6: Business travel  Emissions from flights, trains, car rentals, and mile-  age paid by Ambu are calculated using emission  data or distance and monetary data provided by our  supplier. Other business travel emissions are based  on monetary data recorded in Ambu’s procurement  system. Emissions from hotel stays are excluded, in  line with SBTi guidelines.  Category 7: Employee commuting  Emissions from employees commuting to Ambu’s  entities are calculated based on information pro-  vided via a global survey, filled out by employees,  depicting the information on employee's travel dis-  tance and modes of transpotation. This information  is applied to extrapolate the emissions for the entire  Group for different locations, based on the total  number of employees as per Q3.  Category 11: Use of sold products:  Emissions from the use of products that directly con-  sume electricity are calculated based on sales quan-  tity data. Energy consumption has been estimated  by considering inputs on the product usage time for  different medical interventions, number of products  used per unit, and maximum usage hours. Products  that indirectly consume energy are excluded, in  accordance with SBTi requirements.  Category 12: Emissions are calculated based on  the weight of sold Ambu products, categorized by  the material composition of both the product and its  packaging. Waste treatment methods are estimated  using input from customers and publicly available  reports. For waste incinerated with energy recovery,  § Accounting policy – continued  only transportation-related emissions are included,  as emissions from the recovery process fall outside  the reporting scope. Electronics, paper, and card-  board are assumed to be recycled. All other materi-  als are assumed to be incinerated, with 7% inciner-  ated without energy recovery and 93% with energy  recovery, based on data from a UNDP report  Categories 8, 9, 10, 13, 14, and 15  Categories 8, 10, 13, 14, and 15 are considered not  relevant to Ambu due to the nature of the company’s  operations. An estimate was performed for Category  9, and the resulting emissions were assessed to be  immaterial.  Overview of Global Warming Potentials sets and  emission factor sets used in this year's calculation:  (subject to change)  Global Warming Potentials Sets:  IPCC Fifth Assessment Report (AR5)  IPCC Fifth Assessment Report (AR4)  Emission Factor Sets:  Exiobase - Monetary 3.8.2  UK DEFRA - Conversion Factors 2024  UK DEFRA - Conversion Factors 2024  US EPA - Emission Factor Hub 2024  US EPA - eGRID 2022 Sub Region (Publication Year  2024)  AIB 2024  IEA International Electricity Factors (2024)  Primary Data:  Emission data is considered primary when the emis-  sion values - or both the activity data and emission  factors - are obtained directly from original sources  (e.g., supplier declarations), reflecting actual values  specific to Ambu’s operations.  Secondary Data:  Emission data is considered secondary when the  activity data and/or emission factors are derived  from estimates, industry averages, or third-party  databases, rather, than original sources.  Updated scope 3 calculation  method and data accuracy  This year, we updated scope 3 calculathion  method to improve the accuracy of our scope 3  reporting. Updates consist of transferring key  manufacturing categories from spend-based to  activity-based accounting, as well as adjustments  to emission factors and volume conversions.  These adjustment led to a restatement of our  emissions from the baseline year to date.  For scope 3, Purchased goods and services (  category 1), Capital goods (category 2), Upstream  transportation and distribution (category 4), and  Business travel (category 6), we have restated our  emissions for FY2020/21, FY2021/22, FY2022/23,  and FY2023/24 figures. This results in the  following changes to total scope 3 emissions:  Previous  2024  reporting  Delta  Delta %reporting  2023/24 190,388  43,982  21 150,565  2022/23 140,810  20,239  11  124,686  2021/22 157,899  21,536  12  139,392  2020/21 142,266  18,266  12  125,691  The EU Taxonomy Regulation (2020/825), which  came into force in July 2020, establishes a  classification system for environmentally sus-  tainable economic activities. Since then, the  framework has been expanded through several  Delegated Acts, including the Climate Delegated  Act (2021/2139), the Disclosures Delegated  Act (2021/2178), the Complementary Climate  Delegated Act (2022/1214), and most recently,  the Environmental Delegated Act (2023/2486),  and amendments to the Climate Delegated Act  (2023/2485), both effective from 1 January 2024.  Large public-interest entities are now required  to report under the regulation. Ambu supports  the introduction of standardized sustainability  definitions and is working to integrate relevant  EU Taxonomy criteria into our operations. At the  same time, Ambu identifies business activities  that are incompatible with the transition to a cli-  mate-neutral economy, including the single-use  nature of our products. In the previous reporting  year, we did not identify any eligible activities  under the EU Taxonomy Regulation. Following  a reassessment of our operations and eligibility  criteria, we have determined that certain activities  do meet the eligibility requirements.  The Taxonomy-related disclosure process at  1. Screening of potentially eligible economic  activities is conducted in accordance with the  technical annexes of the Climate Delegated Act  (Annex I on climate change mitigation and Annex  II on climate change adaptation) and the Environ-  mental Delegated Act (Annex I on sustainable use  and protection of water and marine resources,  Annex II on transition to a circular economy, Annex  III on pollution prevention and control, and Annex  IV on protection and restoration of biodiversity  and ecosystems). This screening results in a  refined list of relevant activities.  2. Assessment of identified economic activities  is carried out based on how Ambu performs  each activity, taking into account both financial  and strategic materiality. This is followed by a  detailed evaluation of alignment with the EU  Taxonomy criteria, including substantial contribu-  tion, Do No Significant Harm (DNSH), and mini-  mum safeguards.  3. Extraction and reporting of KPIs required  for Taxonomy disclosure completes the pro-  cess. To support this, the ESG Reporting &amp; Data  Management team compiles a list of ongoing  and planned projects and activities from depart-  ments such as R&amp;D, Facility management, and  Sustainability, using internal IT systems and data-  bases. Each project is screened against EU Tax-  onomy criteria, including internal projects related  to manufacturing, energy efficiency, renewable  energy, and environmental impact. The screen-  ing process is conducted collaboratively by ESG  Reporting &amp; Data Management team members,  external advisors, and internal stakeholders.  Taxonomy eligibility  The activities listed below have been identified as  eligible for Ambu under the EU Taxonomy.  CCM/CCA 6.5. Transport by motorbikes, passen-  ger cars and light commercial vehicles;  • CCM/CCA7.2 Renovation of existing buildings;  • CCM/CCA7.3 Installation, maintenance and  repair of energy efficienty equipment;  • CCM/CCA7.4 Installation, maintenance and  repair of charging stations for electric vehicles  in buildings (and parking spaces attached to  buildings);  • CCM/CCA7.7 Acquisition and ownership of  buildings.  Ambu’s core economic activities are not covered  by the EU Taxonomy Regulation. No eligible rev-  enue or OpEx KPIs were identified, and none of  the reported activities meet the DNSH technical  screening criteria.  Alignment of Ambu’s economic activities  As a single-use medical device company, Ambu  has not identified any EU Taxonomy aligned activ-  ities for the Taxonomy screening of 2024/25. We  do not fullfill Does Not Significantly Harm criteria,  and cannot claim alignment.  Turnover  Substantial contributions criteria  DNSH criteria ("Does Not Significantly Harm")  Economic Activities (1)  Currency  Y; N;  Y; N;  Y; N;  Y; N;  Y; N;  Y; N;  DKKm  %N/EL  N/EL  N/EL  N/EL  N/EL  N/EL  Y/N  Y/N  Y/N  Y/N  Y/N  Y/N  Y/N  %ETA.ELIGIBLE ACTIVITIES (A.1. + A.2.)  A.1. Environmentally sustainable activities (aligned)  Turnover of environmentally sustainable activities  (aligned) (A.1)  Of which enabling  ----------------EOf which transitional  ----------------TA.2. Taxonomy-eligible but not environmentally sustainable activities  (not Taxonomy-aligned activities)  -.----Turnover of eligible but not environmentally sustainable  activities (not aligned activities) (A.2)  --------Total turnover of eligible activities (A.1 + A.2)  --------B. NON-ELIGIBLE ACTIVITIES  Turnover of non-eligible activities  6,037  100%  Total (A + B)  6,037  100%  § Accounting policy  Total turnover is aligned with the revenue disclosed in Note 2.1 Segment and Revenue  Information of the financial statements. The EU Taxonomy revenue KPI is calculated as the  proportion of Taxonomy-eligible revenue (numerator) to total turnover (denominator), in  accordance with Article 8 of the EU Taxonomy Regulation.  CapEx  Substantial contributions criteria  DNSH criteria ("Does Not Significantly Harm")  Economic Activities (1)  Currency  Y; N;  Y; N;  Y; N;  Y; N;  Y; N;  Y; N;  DKKm  %N/EL  N/EL  N/EL  N/EL  N/EL  N/EL  Y/N  Y/N  Y/N  Y/N  Y/N  Y/N  Y/N  %ETA.ELIGIBLE ACTIVITIES (A.1. + A.2.)  A.1. Environmentally sustainable activities (aligned)  CapEx of environmentally sustainable activities  (aligned) (A.1)  ---------------Of which enabling  --------------EOf which transitional  --------------TA.2.Eligible but not environmentally sustainable activities  (not aligned activities)  Transport by motorbikes, passenger cars and light commercial vehicles  CCM/CCA 6.5  41%  EL  EL  N/EL  N/EL  N/EL  N/EL  0%  Renovation of existing buildings  CCM/CCA 7.2  61%  EL  EL  N/EL  N/EL  N/EL  N/EL  3%  Installation, maintenance and repair of energy efficienty equipment  CCM/CCA 7.3  92%  EL  EL  N/EL  N/EL  N/EL  N/EL  4%  Installation, maintenance, and repair of charging stations  CCM/CCA 7.4  00%  EL  EL  N/EL  N/EL  N/EL  N/EL  0%  Acquisition and ownership of buildings  CCM/CCA 7.7  34  8%  EL  EL  N/EL  N/EL  N/EL  N/EL  20%  CapEx of eligible but not environmentally sustainable  activities (not aligned activities) (A.2)  53  12%  12%  0%  0%  0%  0%  0%  28%  Total CapEx of eligible activities (A.1 + A.2)  53  12%  12%  0%  0%  0%  0%  0%  28%  B. NON-ELIGIBLE ACTIVITIES  CapEx of non-eligible activities  397  88%  Total (A + B)  450  100%  § Accounting policy  Total CAPEX is aligned with additions during the year reported in Note 3.2 Other Intangible Assets (IAS 38), Note 3.3 Property, Plant and Equip-  ment (IAS 16), and Note 3.4 Leases. Goodwill is excluded from CAPEX, as it is not defined as an intangible asset under the EU Taxonomy Regula-  tion. The CAPEX KPI is calculated as Taxonomy-eligible CAPEX (numerator) divided by total CAPEX (denominator), in accordance with Article 8 of  the EU Taxonomy Regulation. To avoid double counting in the Capex KPI, we only include Capex related to purchased outputs and individual mea-  sures once, when they are already accounted for under category a – namely assets or processes linked to Taxonomy-eligible economic activities.  We are restating numbers from last financial year. Figures have been extracted directly from ERP system to avoid double counting.  OpEx  Substantial contributions criteria  DNSH criteria ("Does Not Significantly Harm")  Economic Activity  (1)  Currency  Y; N;  Y; N;  Y; N;  Y; N;  Y; N;  Y; N;  DKKm  %N/EL  N/EL  N/EL  N/EL  N/EL  N/EL  Y/N  Y/N  Y/N  Y/N  Y/N  Y/N  Y/N  %ETA. ELIGIBLE ACTIVITIES (A.1. + A.2.)  A.1. Environmentally sustainable activities (aligned)  OpEx of environmentally sustainable activities  (aligned) (A.1)  ---------------Of which enabling  ---------------EOf which transitional  ---------TA.2. Eligible but not environmentally sustainable activities  (not aligned activities)  OpEx of eligible but not environmentally sustainable  activities (not aligned activities) (A.2)  ---------Total OpEx of eligible activities (A.1 + A.2)  --------B. NON-ELIGIBLE ACTIVITIES  OpEx of non-eligible activities  153  100%  Total (A + B)  153  100%  § Accounting policy  OPEX consists of only direct non-capitalized costs that relate to sustainability activities  (maintenance, resource efficiency, R&amp;D, training, renovation of buildings, short-term  leases, and other direct costs relating to day-to-day servicing of property, plant and equip-  ment ). For calculation of the denominator of OPEX, figures were extracted directly from  Ambu's enterprise resource planning (ERP) system, to ensure that registrations were only  counted once. The KPI is defined as Taxonomy-eligible OPEX (numerator) divided by total  OPEX (denominator).All operational expenditures related to our eligible activities are  immaterial, and thus the OpEx numerator is 0.  Proportion of turnover / Total turnover  Taxonomy-aligned  Taxonomy-eligible  per objective  per objective  CCM  0%  0%  CCA  0%  0%  WTR  0%  0%  CE  0%  0%  PPC  0%  0%  BIIO  0%  0%  Proportion of CapEX / Total CapEX  Taxonomy-aligned  Taxonomy-eligible  per objective  per objective  CCM  0%  12%  CCA  0%  0%  WTR  0%  0%  CE  0%  0%  PPC  0%  0%  BIIO  0%  0%  Proportion of OpEX / OpEX  Taxonomy-aligned  Taxonomy-eligible  per objective  per objective  CCM  0%  0%  CCA  0%  0%  WTR  0%  0%  CE  0%  0%  PPC  0%  0%  BIIO  0%  0%  Nuclear-energy related activities  1The undertaking carries out, funds, or has exposure to research, development, demon-  No  stration and innovative electricity generation facilities that produce energy from nuclear  processes with minimal waste from the fuel cycle.  2The undertaking carries out, funds, or has exposure to construction and safe operations  No  of new nuclear installation to produce electricity or process heat, including for the pur-  poses of district heating or industrial process heat, such as hydrogen production and  their safety updates, using best available technologies.  3The undertaking carries out, funds, or has exposure to safe operations of existing nuclear  No  installations that produce electricity or process heat, including forr the purposes of dis-  trict heating or industrial processes, such as hydrogen production from nuclear energy  and their safety upgrades.  Fossil-gas related activities  1The undertaking carries out, funds or has exposure to construction or operation of elec-  No  tricity generation facilities that produce electricity using fossil gaseous fuels.  2The undertaking carries out, funds or has exposure to construction, refurbishment, and  No  operation of combined heat and cool power generation facilities, using fossil gaseous  fuels.  3The undertaking carries out, funds or has exposure to construction, refurbishment, and  No  operation of heat generation facilities, that produce heat / cool using fossil gaseous fuels.  E5 RESOURCE USE &amp;  CIRCULAR ECONOMY  At Ambu, we design with circularity in mind, to help reduce  environmental impact across the value chain. Through our  Ambu® Recircle Program and our dedicated use of bio-attributed  materials, we support customers in meeting sustainability goals  while promoting responsible resource use.  Our approach  Impacts, risks, and opportunities  The majority of our products are single-use medi-  cal devices. Their development relies on innova-  tive material choices and responsible resource  management to support safe and effective  healthcare delivery. We have established a  structured process to identify and assess mate-  rial impacts, risks, and opportunities related to  resource inflows, outflows, and waste across our  production sites and throughout our global value  chain. The business units associated with these  impacts include Operations and Procurement,  which oversees material sourcing, supplier rela-  tionship production, and waste handling; R&amp;D,  which drives material innovation, product design  and material selection; and Sustainability &amp; ESG,  which coordinates reporting, while also inte-  grating circular economy principles into product  development and end-of-life treatment. We con-  ducted a systematic screening of our operations,  products, and supply chain to evaluate:  • Resourceinflows, such as raw materials includ-  ing plastics and bioplastics;  • Resourceoutflows, including packaging and  end-of-life product waste;  • Wastegeneration and handling across our  production and distribution systems.  This assessment was informed by internal  stakeholder engagement, particularly with our  operations and R&amp;D teams. Our materiality  process aligns with ESRS 2 IRO-1 and IRO-2, and  we applied methodologies, such as material  flow analysis, life cycle assessments (LCAs), and  spend-based data reviews, to identify and prior-  itize material impacts, dependencies, risks, and  opportunities. As this is our first year of reporting  on this KPI, we have not yet conducted consul-  tations with affected local communities. We  recognize the importance of such engagement  and plan to incorporate it in future assessments.  Given the global nature of our supply chain and  product use, our impacts are global in scope  rather than location-specific.  Our impacts across the value chain include:  • Upstream:Environmental impacts from the  extraction and use of non-renewable raw  materials;  • Operational:Impacts related to material use,  resource efficiency, and waste generation;  • Downstream:Impacts from the disposal of  single-use products, requiring responsible  recyling.  We identified several emerging risks, including:  • Reputationalrisk if Ambu does not transition to  more sustainable materials;  • Resourcedepletion risks associated with con-  tinued reliance on fossil-based plastics.  These risks and impacts also present opportuni-  ties to:  • Reducedependency on fossil-based plastics;  • Enhanceresource efficiency and operational  resilience;  • Alignwith evolving regulatory and customer  expectations;  • Strengthenour reputation as a sustainable  alternative in the medical device industry;  • Accessgreen financing and support long-term  value creation.  We identified key interfaces with nature across  our value chain, including:  • Rawmaterial extraction;  • Manufacturingemissions and waste;  • End-of-lifedisposal of single-use devices and  packaging.  By following circular economy principles and  optimizing resource use, we have identified  a material opportunity to improve efficiency,  reduce environmental impact, and enhance  financial and reputational resilience. Transition-  ing to bioplastics positions Ambu as a sus-  tainable alternative to traditional plastic-based  medical device manufacturers.  The outcome of the double materiality assess-  ment (DMA), including the identified material  risks, has been established on the assumption  that Ambu continues operating under normal  conditions (‘business as usual’).  Environmental Policy  Our Environmental Policy guides our efforts  to reduce climate impact and promote circular  resource use across the value chain.  Read more about our Environmental Policy  under Ambu's policies, pp. 73-76.  We have not adopted any targets for resource  use &amp; circular economy this financial year. We will  continue to focus on circular economy principles  in our products and packaging together with  circular waste management, and are expected  to implement and report on targets in the next  financial year, 2025/26. We take continuous  action to reduce resource use, increase circulari-  ty, and minimize waste across product design  and development, manufacturing, and product  end-of-life. This financial year, we set internal  ambitions that stem from our Environmental  Policy commitments.  Our resource use, circular economy, and waste actions  Circular products and packaging  We are committed to advancing circular economy principles across  product design, packaging, and material innovation. A dedicated  team of 3 FTEs in R&amp;D sustainability, supported by ~1 FTE from tech-  nical teams, drives the development and implementation of circular  solutions. These efforts are ongoing, with no defined end point,  reflecting our long-term strategic commitment. We have successfully  integrated bioplastics into all marketed endoscope handles, receiving  FDA clearance for the world’s first endoscope with a bioplastic handle  – an innovation that reduces lifecycle carbon emissions by 6–13%. Bio-  plastics have also been introduced into packaging components, such  as the cuff protector for the Ambu® Aura laryngeal mask portfolio,  and we continue to scout bio-based alternatives for primary packag-  ing in high-volume products. Circular design is now embedded in our  R&amp;D and governance processes. All innovation projects follow our  sustainability procedure, applying our circular design guide, setting  project-specific sustainability ambitions, and reviewing outcomes  to ensure environmental performance. To support credible green  claims, we have strengthened our data-driven approach through  life-cycle assessments (LCAs), which evaluate up to 16 environmental  parameters, in line with ISO 14040/14044 standards. This year, we  expanded our LCA evidence base to cover seven additional products  and completed a comparative LCA of single use vs. reusable endos-  copy, including third-party review.  Ambu® Recircle Program  The Ambu® Recircle Program is our global recycling pro-  gram, designed to support a more circular business model  by enabling the safe collection, transport, and recycling of  used single-use Ambu endoscopes into new raw materials.  Over the reporting period, the program progressed from  concept to execution, launching in four key markets: the  USA, the UK, France, and Germany. Strategic partnerships  with recycling and circularity experts were established to  ensure long-term scalability. We invested in key infrastruc-  ture and allocated dedicated full-time resources both at  headquarters and in local markets to drive execution and  maintain strategic alignment across regions. A governance  model anchored by our CFO ensures oversight, while  annual targets and KPIs – focused on customer engage-  ment and environmental impact – are reported to the Exe-  cutive Leadership Team. The Ambu® Recircle Program  is now fully embedded in our sustainability strategy and  contributes to both environmental performance and com-  mercial value. Beyond endoscopes, the program will be  expanded to include blades from our video laryngoscopy  in 2025/26, and as we continue to sell single-use endo-  scopes and video laryngoscopes, the program remains an  ongoing initiative with no defined end point.  Waste in our operations  We have implemented structured waste management  practices across our production sites, supported by inter-  nal operational resources, such as production data sys-  tems and standard operating procedures (SOPs). These  practices are revisited annually to track progress and  ensure continuous improvement. At our production facili-  ties in China and the U.S., we apply circular waste handling  by recycling runners from the injection moulding process.  These runners are re-ground and reintegrated into the  production cycle through an internal system, reducing  material waste and supporting resource efficiency. This  initiative is operationally embedded and ongoing, with no  defined end point.  Resource inflows  Ambu’s approach to resource inflows focuses  on reducing overall material use and minimizing  reliance on virgin and fossil-based inputs. We  apply circular sourcing principles in product and  packaging design, defining circular inflows as  materials that are sustainably sourced (e.g., bio-  plastics), recycled (chemically or mechanically),  or recyclable.  In 2024/25, bioplastics accounted for 0.53% of  materials used in our products, while recycled  content was 0%. These figures represent our  current baseline and inform future improvements  in sustainable sourcing.  Key material inflows include plastics, electronics,  metals, paper, cardboard, adhesives, chemi-  cals, and water. Plastics dominate our material  use, which is why our transition efforts prioritize  substituting virgin plastics with bio-attributed  alternatives and reducing material weight – par-  ticularly in strategic components like endoscope  handles and packaging. These targeted changes  support our circularity goals and demonstrate  that even small shifts in material design can  drive meaningful environmental and commercial  impact.  Resource inflows  Unit  2024/25  Weight of products and technical and biological materials  Mass (tonnes)  12,788  Percentage of biological materials (and biofuels) used for  non-energy purposes  %0Rates of sustainably sourced content  %0.53  Absolute weight of recycled materials used to manufacture  products and services, including packaging  Mass (tonnes)  67  Percentage of recycled materials (secondary reused, or  recycled components, secondary intermediary)  %0§ Accounting policy  Ambu reports on material inflows by weight and percentage, categorized by technical and  biological materials, as well as secondary (recycled), sustainably sourced (renewable), and  virgin/fossil-based materials. This classification aligns with ISO 59004:2024 definitions and  circular economy principles. We distinguish our material inflows by aligning with circular eco-  nomic principles, which inherently address both technical and biological material cycles.  Key definitions:  Technical materials: Durable, non-biodegradable materials designed for reuse or recycling.  Biological materials: Renewable, biodegradable materials intended to return safely to the  biosphere.  Secondary materials: Recycled content reprocessed through manufacturing.  Sustainably sourced materials: Bio-based, bio-attributed, or renewable inputs (e.g. FSC-  certified cardboard, second-generation bioplastics). Bioplastics fall under technical  materials, as they are not biodegradable or renewable.  Data is calculated using product-level material composition and sales information. Primary  data is derived from internal product documentation, covering the majority of sold units.  For the remaining portion, estimates are based on average product weights and material  profiles, applying conservative assumptions informed by available product insights. Double  counting has been avoided by grouping resources distinctly to help avoid counting the same  resource inflows across multiple entities or departments.  Some data was excluded due to missing weight information, accounting for 5% of total  volume. This is Ambu’s first year of reporting on this KPI.  Resource outflows  Ambu primarily manufactures single-use endo-  scopes, designed to ensure patient safety and  procedural efficiency. In accordance with clinical  waste regulations, these devices are typically  incinerated after use. We are committed to  changing this by diverting waste from incinera-  tion to recycling with our pioneering Ambu®  Recircle Program. The program is successfully  launched in key markets, specifically the U.S.,  the UK, Germany, and France, where used endo-  scopes are collected for material recovery, and  turned into secondary raw materials for new  applications.  Our recycling program is enabled by the compo-  sition of our resource outflows, which consist of  materials suitable for recovery, including plastics,  metals, electronics, cardboard, paper, and other  substances, such as gels and adhesives. Material  recovery is our preferred end-of-life processing  for our products and serves as a cornerstone of  our circular design approach, embedded from  the earliest stages of product development –  through material selection, component design,  and packaging choices.  This approach extends to packaging, where rate  of recyclable content in the product packaging is  68%, a figure we aim to increase as we introduce  more circular products and packaging to the  market. This figure reflects our ongoing efforts to  improve material circularity and reduce environ-  mental impact across our product portfolio posi-  tioning Ambu for sustainable long-term growth.  For durable devices, we prioritize repairability,  reusability, and recyclability. In our Endo-Intelli-  gence™ endoscopy systems, designs emphasize  repair and reuse to extend product life of our  durable devices.  This year, we have been developing our metho-  dology for assessing product repairability and  recyclability in preparation for next year’s CSRD  reporting. For this reporting year, we apply a  conservative approach and report zero for the  design-for-recycling indicator, pending full  methodology implementation. The calculation  of the design for recycling indicator is based on  available product and packaging data. Only sim-  ple packaging components – such as cardboard  boxes and mono-material plastic items – are cur-  rently considered to be designed for recycling.  Resource outflows  Unit  2024/25  The expected durability of the products placed on the market (shelf-life)  Years  1. Single-use products  -32. Reusable products  -5The repairability of products  Points  N/A  Recyclability rates  %1. The rate of recyclable content in products  %2.7  2. The rate of recyclable content in product packaging  %68  § Accounting policy  Products and materials – durability: Durability is the expected lifetime of the product. As our products are  primarily single-use, we have used the definition of shelf-life which refers to the period during which a product  remains safe and effective for use while in storage. We measure it in years.  Products and materials repairability: We have taken a conservative approach, assuming that we have zero  repairable products. We have been developing an approach to enable reporting and monitoring on product  repairability for specific product categories next year. *  Rates of recyclable content in products: We used the total weight of products designed for recycling and the  weight of products not designed for recycling. The Product Recyclability rate is calculated as the proportion of  total product weight that is designed for recycling, based on internal design principles.  Rates of recyclable content in packaging: We used the total weight of packaging designed for recycling and the  weight of packaging not designed for recycling. The Packaging Recyclability rate is calculated as the proportion  of total packaging weight that is designed for recycling, based on internal design principles.  We have used product-level data on material composition, design attributes, and sales quantities. The core  data source provides detailed component-level information on finished goods (products, packaging, and IFUs).  This includes weights, materials, circular content, and design for recycling. Necessary estimates are derived  from FG data + estimations sheet, which include total weight data for shipped items. Where data is unavailable,  conservative assumptions are applied based on average profiles from an internal product database.  The reported figures represent products or packaging designed to be recyclable, meaning they are manufac-  tured in a way that enables recycling where appropriate infrastructure exists.  Waste  This financial year, we generated 3,418 tonnes  of waste, 98% non-hazardous and 2% hazard-  ous. Our total waste generation increased only  1%, from 3,379 to 3,418, remaining at the levels  similar to last year. Due to operational changes  that resulted in a change of the waste composi-  tion, we observed a decline of 12% in the volume  in waste successfully diverted for recycling 46%  this year, compared to 52% the previous year.  This trend highlights the need for continued  investment in scalable recycling infrastructure  and partnerships with local recycling facilities to  ensure sustainable waste handling in line with  our environmental commitments.  Hazardous waste  Unit  2024/25  Total hazardous waste diverted from disposal  Mass (tonnes)  51  Due to recycling  Mass (tonnes)  25  Due to preparation for reuse  Mass (tonnes)  0Due to recovery operations  Mass (tonnes)  26  Total hazardous waste directed to disposal  Mass (tonnes)  3Directed to disposal by incineration  Mass (tonnes)  3Directed to disposal by landfilling  Mass (tonnes)  0Directed to disposal by other disposal operations  Mass (tonnes)  0Total amount of hazardous waste generated  Mass (tonnes)  54  Non-hazardous waste  Mass (tonnes)  Total non-hazardous waste diverted from disposal  Mass (tonnes)  1,769  Due to recycling  Mass (tonnes)  1,557  Due to preparation for reuse  Mass (tonnes)  0Due to other recovery operations  Mass (tonnes)  212  Total non-hazardous waste directed to disposal  Mass (tonnes)  1,595  Directed to disposal by incineration  Mass (tonnes)  25  Directed to disposal by landfilling  Mass (tonnes)  1570  Directed to disposal by other disposal operations  Mass (tonnes)  0Total amount of non-hazardous waste generated  Mass (tonnes)  3,364  Total amount of waste generated  Unit  2024/25  Total amount of waste generated  Mass (tonnes)  3,418  Total amount of recycled waste  Mass (tonnes)  1,582  Total amount of non-recycled waste  Mass (tonnes)  1,836  Percentage of non-recycled waste  %54  Percentage of recycled waste  %46  § Accounting policy  Total amounts of waste generated: Ambu has collected data on actual  amount of waste generated at our HQ and production sites from our  local EHS / ESG teams. We calculated an estimation value for our sales  offices, innovation, and warehouses based on HQ consumption, which  we then multiplied by headcount number in each office, with disposal  methods estimate based on data from the UNDP. This has been done as  we have not obtained actual data for our offices. We include waste that  goes to recycling, recovery, incineration, and landfill in total waste.  Total hazardous waste: Ambu counts hazardous waste as waste mate-  rial that poses substantial or potential threats to public health or the  environment due to its chemical, physical, or biological properties,  based on local regulation at each of our production sites and HQ. For  our sales offices we have estimated waste generation based on HQ’s  waste consumption and headcount at each office.  Total non-hazardous waste: Ambu counts non-hazardous waste as  waste materials that do not pose an immediate threat to human health  or the environment. We have collected actual data for each of our pro-  duction sites and HQ, and calculated an estimation for our sales offices  based on HQ waste consumption and headcount number in each office.  Percentage of non-recycled waste: This refers to waste that is recovered,  incinerated, or sent to landfill at our production sites, headquarters,  and offices (estimated values). It is calculated by dividing the amount of  non-recycled waste by the total amount of waste generated.  Percentage of recycled waste: This is waste that has been sent for recy-  cling at our production sites, HQ and offices (estimated value). This is  calculated by dividing the waste that is recycled by the total amount of  waste generated.  Ambu has historically excluded materials diverted through reuse from its  waste reporting, as such materials are not classified as waste. Plastics  reused internally do not meet the CSRD definition of 'waste' and are  therefore reported as zero.  SOCIAL  We foster a culture of empowerment and growth and uphold human  rights across our operations and through our value chain. We also  prioritize the well-being of end users, ensuring our solutions reflect  care, safety, and responsibility.  2024/25 highlights  92% 12% 100%  Up 8% pts from 2023/24  Down 8% pts from 2023/24  Launched in  December 2024  Ambu’s engagement  Voluntary turnover  Ambu Leadership  survey reached a  decreased significantly  Compass workshops  highest-ever global  this financial year,  reached 100% of our  participation rate  compared to 2023/24  senior leaders  S1 OWN WORKFORCE  At Ambu, our people are at the heart of our organization. We  are committed to fostering a safe, inclusive, and empowering  work environment that supports well-being, development, and  engagement.  Our approach  Impacts, risks, and opportunities  As a medical device manufacturer, our success  is driven by the talent of our people. Our global  workforce – comprising around 5,200 individ-  uals across 20 countries and four continents  – includes full-time and part-time employees,  external consultants, advisors, contractors, and  individuals engaged through employment agen-  cies. Together, they contribute to our operations  across production sites, innovation centers, sales  offices, and headquarters.  To understand how views, interests, and rights of  people in our own workforce influence our busi-  ness model and strategy, please refer to  Engaging with stakeholders, pp. 63 - 64.  We recognize that all individuals within our  workforce – regardless of employment type –  may be impacted by our business activities. The  nature and extent of these impacts vary based on  factors such as job function, geographic location,  and individual characteristics, including contract  type. We maintain a clear and up-to-date under-  standing of where specific groups may face any  potential negative impacts or risks through quar-  terly engagement with relevant People &amp; Culture  representatives. These insights help us tailor and  reinforce our commitment to a safe and equitable  working environment.  As part of our DMA, we have identified workforce  groups that may be at heightened risk of adverse  impacts. These include migrant workers at our  production sites, as well as contractors, tempo-  rary staff, individuals in physically demanding  roles, and members of our sales force who rely on  car transportation. On a quarterly basis, there is  engagement with local teams to gather insights  into regional risks and workforce conditions. Peo-  ple &amp; Culture is further supported by internal data  on incidents, absenteeism, and workforce demo-  graphics. Read more under Workforce character-  istics, p. 109, and Workplace accidents, p. 111.  Our global presence and industry-specific chal-  lenges can introduce potential negative impacts.  Based on our DMA (aligned with ESRS 2, IRO-1),  we have identified the following:  • Employee well-being, health, and safety:  These impacts are not widespread or systemic,  but occur as individual incidents. While work-  related accidents and illness-related absences  with time lost (LTIF) are infrequent, they pose  potential risks, such as legal liability, fines, and  increased absenteeism.  • Employees' human rights: We have identified  a potential risk at our production sites in Asia  related to the presence of migrant workers.  While Ambu strictly prohibits forced and child  labor, as outlined in our Code of Conduct (see  Ambu's policies, p. 73), we recognize that  without our rigorous and protective human  rights safeguards, there could be reputational  or legal consequences. These safeguards  include clear expectations, continuous mon-  itoring, and strict consequences in the event  of non-compliance (read more on Actions  related to own workforce, p. 107).  Ambu has identified material risks and opportu-  nities related to its dependency on skilled talent,  particularly in regions such as Asia, where labor  shortages and a competitive hiring environment  pose challenges. These dependencies primarily  affect specialized roles in production, making  workforce availability and retention critical to  business continuity and execution. We address  risks on an ongoing basis by checking proper  compensation of our workforce, through ongoing  attrition across locations and the time taken to  fill vacant positions. We monitor for labor short-  ages in some regions. We rely on the workforce  in countries where we have our production sites,  but by spreading our manufacturing activities  globally, we reduce the risk of facing labor short-  ages at a given location.  To date, we have not identified any material risks  or workforce impacts arising from our environ-  mental transition plans. We remain vigilant and  continue to monitor potential implications – such  as evolving skill requirements – to ensure our  workforce is equipped and supported through  any future changes.  We promote good working conditions across our  global operations, ensuring fair treatment, safe  workplaces, and access to career opportunities  for all employees hired under an employment  contract. We are committed to the well-being  of our entire workforce – including full-time and  part-time employees, contractors, freelancers,  and consultants – by fostering a healthy work-  life balance and a supportive work environment  across all locations and employment types.  We uphold human rights and respect every indi-  vidual’s right to organize and engage in collective  bargaining, regardless of employment status or  geographic location. We ensure equal access to  skill development and professional growth, and  we actively promote continuous learning and  inclusion. Our three employee representatives  on the Board hold the same mandate as share-  holder-elected members, contributing directly  to our business strategy and workplace improve-  ments.  By investing in our people and promoting fair,  respectful treatment, we strengthen employee  engagement, attract and retain talent, and sup-  port the well-being of our end users, ultimately,  contributing to stronger organizational perfor-  mance.  Own workforce policies  Ambu’s commitment to human and labor rights  is embedded in our global policies, including  the Code of Conduct, Global Diversity, Equity,  and Inclusion Policy, Speak Up – Integrity Line  Policy, and Labor &amp; Human Rights Policy, which  collectively guide our workforce practices and  ensure alignment with ILO standards. Our Code  of Conduct and Business Partner Code address  discrimination, safety, human trafficking, and  forced and child labor. Currently, Ambu  only recognizes the grounds for discrimina-  tion listed in ESRS S1-24(b) and any additional  grounds specified under national legislation.  Respect for workers' rights is further supported  through Global Framework Agreements embed-  ded in our Code of Conduct.  Our policies are aligned with internationally  recognized human rights instruments and the  core conventions of the International Labor Orga-  nization (ILO). The Labor &amp; Human Rights Policy  clearly articulates Ambu’s zero-tolerance stance  on child labor and forced labor. For further infor-  mation on the governance, scope, and implica-  tions of these policies, refer to Ambu's policies,  pp. 73-76.  While we do not currently have a standalone  policy dedicated to workplace accident preven-  tion, all employees are covered under our com-  prehensive workplace accident management  system. This ensures consistent and effective  handling of incidents across our global work-  force.  We are committed to cultivating a purposeful,  and inclusive culture – one where our employees  are empowered to apply their competencies,  collaborate closely with colleagues and custom-  ers, and take ownership of results and shared  success. To foster engagement and alignment,  we maintain open and ongoing dialogue with our  employees through global engagement surveys,  town halls, purpose and values sessions, CEO  communications, strategy newsletters, intranet  updates, performance development dialogues,  workers’ councils, and sustainability training.  Concerns may also be reported directly to our  Global Risk &amp; Compliance team, members of  management, line managers, or representatives  from global or local People &amp; Culture, or our legal  teams.  To date, we have not identified any cases of  human rights violations requiring remedial  action. At present, we do not have a dedicated  policy specifically addressing groups at height-  ened risk of vulnerability. Instead, we fully re-  cognize the importance of strengthening our  approach in this area. As part of our ongoing  responsible business conduct, we are actively  exploring ways to enhance our policies and prac-  tices to better support and protect vulnerable  groups across our operations and value chain.  Engagement with own workforce  At Ambu, we actively encourage our employees  to share their perspectives and insights – both  with one another and with leadership. We foster  open dialogue through structured engagement  channels, such as surveys, events, local town hall  meetings, and other feedback mechanisms. This  input plays a vital role in shaping our decisions  and actions, helping us identify and address both  actual and potential impacts on our workforce.  We integrate workforce-related risks into our  broader ERM framework. These are identified  through audits, engagement surveys, and HR  data, and assessed alongside financial risks.  Read more under Impacts, risks and opportu-  nities, pp. 103-104, and our IRO overview, pp.  69-70. Governance and mitigation are embedded  in our ZOOM AHEAD strategy, and workforce  considerations are part of our strategic deci-  sion-making.  We use multiple engagement channels to gather  insights from employees across all roles and  regions. Our annual "Our Voice" global employee  engagement survey – led by the Chief People  Officer and managed by Group People &amp; Culture  – achieving a record 92% participation rate and an  engagement score of 4.1, sustaining last year’s  strong performance and remaining above indu-  stry benchmarks. Our results reflect that people  at Ambu, across functions and sites, are eager to  share their thoughts and ideas about what makes  Ambu a great workplace now and in the years to  come. The survey supports improvement efforts  by collecting feedback on working conditions  from employees across all countries, including  insights from potentially vulnerable groups.  Ambu fosters open dialogue and a strong  sense of community through regular engage-  ment opportunities. Each quarter, we host  live-streamed global town hall meetings, where  employees can interact directly with members of  the ELT. These are followed by functional-specific  town halls, led by individual ELT members, such  as the CFO, COO, or CTO, enabling focused  discussions. We also organize frequent social  events throughout the year to strengthen con-  nections across teams. These initiatives are  employee-driven. Their impact is assessed  through social surveys, with feedback actively  informing future planning.  Grievance mechanisms and  providing remedies  Ambu provides multiple protected channels –  including the Speak Up - Integrity Line and direct  reporting options – to empower employees,  customers, and all other stakeholders across  the value chain to safely raise serious concerns  about misconduct, human rights, environmental  violations, and other critical issues. Employees  who experience discrimination or harassment are  encouraged to seek support, while leadership  has a duty to report any such cases they witness  or are notified of. Reports can be submitted  directly to People &amp; Culture, or through our  Speak Up - Integrity Line if the employee wishes  to remain anonymous. Bullying can be reported  directly to the Speak Up - Integrity Line, although  the first resort for reporting would be approach-  ing People &amp; Culture. Reporting is anonymous  and does not require personal details. We run  annual campaigns and awareness initiatives for  employees and external stakeholders and are  strengthening collaboration across the business  to streamline concern-raising. Ongoing feedback  and internal communication help ensure that  employees trust the Speak Up - Integrity Line.  For more information on the Speak up - Integrity  Line, our grievance investigations, and relevant  governance of handling grievances, please refer  to Speak Up - Integrity Line, p. 47.  Through our monitoring and auditing process,  we assess the effectiveness of the remedy  provided. This is anchored in our Human &amp; Labor  Rights Policy, Code of Conduct, and Code of  Conduct for Business Partners, and complies  with the relevant legislation.  To learn more about our approach to reporting  grievances, investigation process and oversight,  and our Anti-Retaliation Policy, please read about  our Speak Up - Integrity Line, p. 47, and Ambu's  policies, p. 74.  Creating a safe and engaging workplace  Our unwavering commitment to respecting  and protecting human and labor rights is firmly  rooted in our company values, Take Charge,  Team Up, and Be True. We take a proactive and  transparent approach to managing workforce-re-  lated matters through a comprehensive set of  policies, including our Code of Conduct, Global  Diversity, Equity, and Inclusion Policy, Speak Up  - Integrity Line Policy, and Labor &amp; Human Rights  Policy. These policies serve as guiding princi-  ples that ensure ethical conduct, inclusivity, and  accountability across our global operations. For  information on the governance, scope, and impli-  cations of these policies, please see Ambu's  policies, pp. 73-77.  Tracking the progress and effects of our actions  is crucial. Our employee engagement survey,  “Our Voice,” collects employee feedback to  ensure increased engagement. The approach to  track our DEI results is data-driven and unbiased.  We continue to be committed to bias-free recruit-  ment and promotion processes, and last year,  we made significant strides in reducing bias. Our  global employee engagement survey helps us  identify our DEI score, currently at 4.2 out of 5.  To mitigate material risks arising from our impact  and dependencies on our own workforce, we  take proactive actions. Read more under Own  workforce actions, p. 107.  Due to Ambu’s global character, environmental  risks and consequently their impacts are mate-  rial to our own workforce. Following the severe  floods in Valencia, Spain, we donated DKK 89,548  to the Aldis Association to support recovery  efforts, helping rebuild and furnish a new space  for community activities.  To effectively manage material impacts on our  workforce, Ambu has established dedicated Peo-  ple &amp; Culture teams within each material legal  entity. These local teams collaborate closely with  the global People &amp; Culture functions, enabling  responsive and context-specific actions.  To pursue material opportunities in relation to  our own workforce, Ambu has several actions  planned or underway. We aim to invest in training  and development programs, according to the  results of our engagement survey.  While we are firmly committed to ensuring good  working conditions and upholding work-related  rights, we do not report on specific actions in  this area. Such reporting would primarily reflect  our adherence to existing regulations and inter-  nationally recognized human rights standards,  rather than addressing any identified adverse  impacts. Our focus remains on maintaining con-  sistently high workforce practice standards that  align with legal requirements and ethical expec-  tations, ensuring that all employees are treated  fairly, respectfully, and with integrity.  Read more about Own workforce actions on p.  107.  Targets related to own workforce  We have set targets regarding our  own workforce as follows:  • 2.0for LTIF (Lost Time Injury Frequency) in  production sites, innovation centers, and sales  offices at all times.  We aim to revisit these targets annually and  report on progress in our sustainability state-  ment. This year, our LTIF is 0.796, well below our  target, which we observe as a great result and a tes-  tament to our focus and ongoing efforts to improve  health and safety across all of our production sites  and offices globally. Read more on Health &amp;  safety, p. 111, to understand methodologies,  progress, and metrics used to calculate this num-  ber. Progress is measured quarterly. The baseline  value remains unchanged, and the base year  dates back to last year, when we officially began  reporting on this target. Workplace representa-  tives on the BoD engage in setting and monitor-  ing this target.  Own workforce actions  Belonging initiatives across Ambu  As part of our material topic on human  rights, including belonging, Ambu’s  approach to diversity focuses on cognitive  diversity rather than external characteris-  tics, such as gender, race, or age.  In 2024/25, Ambu carried out several local  initiatives aimed at boosting employee  belonging across all legal entities. These  actions were global in scope and guided  by the results of the "Our Voice"employee  engagement survey, which we use to  monitor employee belonging across the  organization. Based on the survey results,  appropriate local actions were taken. The  progress of these initiatives is monitored  annually, with local People &amp; Culture  representatives determining the specific  actions relevant to their entities. Dedi-  cated local People &amp; Culture FTEs oversee  the process, while our Chief People Offi-  cer is the most senior person accountable  for the implementation.  Ambu Leadership Compass  As part of our material topic on working  conditions – including talent retention – we  launched the Ambu Leadership Compass  in December 2024. It aims to set a shared  direction for how to lead at Ambu, in line  with our strategic goals and our culture.  The Ambu Leadership Compass is founded  on our core values – Take Charge, Team Up,  and Be True. For each value, it provides our  leaders with four concrete and actionable  behaviors for how to lead our people. The  leadership initiative is global in scope and  forms the foundation for all our leadership  development activities. One dedicated FTE  oversees the process, with governance and  implementation led by our Chief People  Officer. 100% of our senior leaders par-  ticipated in Ambu Leadership Compass  workshops this year. Further monitoring  has not yet begun, however, annual pro-  gress will be tracked and disclosed under  “Engagement with own workforce” in the  Annual Report.  Adequate wage audit  As part of our commitment to the material  topic of working conditions and human  rights, Ambu conducted a global audit  in 2024/25 to ensure that all employees  across our Group are paid above the  minimum wage. This initiative stems from  the implementation of Ambu’s Labor &amp;  Human Rights Policy and is applied con-  sistently across all business units, includ-  ing production, sales, and innovation. This  is an ongoing action, and Ambu aims to  continue to report on this action each year.  In countries where no statutory minimum  wage exists, Ambu monitors market  trends to ensure fair compensation. A de-  dicated FTE oversees the process, ensur-  ing that all employees receive an adequate  wage. The most senior person account-  able for implementation and monitoring  is our Chief People Officer. Progress is  tracked annually through the “Adequate  Wage” KPI, which is reported as part of our  ongoing CSRD implementation efforts.  Own workforce performance  In 2024/25, our total headcount increased slight-  ly, reflecting our focus on sustainable growth and  operational resilience. At the same time, we saw  a notable improvement in employee retention,  with turnover decreasing from 23% in 2023/24  to just 16% in 2024/25, and voluntary turnover  improving from 20% to 12%. This highly positive  development is a testament to our ongoing focus  on fostering an engaged culture and consistent  global communication. By consistently spotlight-  ing our strong financial results, strong execu-  tive leadership, high ambitions, breakthrough  innovations, and local milestones, we have  strengthened employee connection and align-  ment. These developments fuel internal pride  and reinforce a shared sense of purpose, helping  employees see the direct link between their con-  tributions and the company’s success.  The total number of FTEs is also disclosed in the  Financial Statement under Staff Cost. Read about  staff cost and remuneration (note 2.3) in Section  2: Operating profit and tax, p. 145. This number  is different to Headcount.  This year marks our first time reporting on col-  lective bargaining agreements (CBAs) and social  dialogue. We have six CBAs within the European  Economic Area (EEA). We do not have represen-  tation agreements through European Works  Council (EWC), Societas Europaea (SE) Works  Council, or Societas Cooperativa Europaea (SCE)  Works Council.  Employment characteristics  Unit  2024/25  2023/24  Permanent employees (headcount)  No  4,267  3,951  Male permanent employees  1,978  1,804  Female permanent employees  2,287  2,146  Temporary employees  No  740  794  Male temporary employees  79  88  Female temporary employees  661  706  Non-guaranteed hours employees  No  00Male non-guaranteed hours employees  00Female non-guaranteed hours employees  00Total  5,007  4,745  FTEs engaged through employment agencies  No  377  451  Average FTEs (aligned with financial statements)  5,384  5,196  Employee turnover  Employee turnover rate  %16  23  Number of employees  No  1,101  1,049  Voluntary employee turnover rate  %12  20  § Accounting policy  Ambu categorizes employees into three groups: white-collar, indirect blue-collar, and  blue-collar. White-collar employees include those in administrative functions such as Sales,  Marketing, Innovation, Finance, and IT, as well as production planners, Heads of Production,  student workers, and trainees; indirect blue-collar employees support Production without  direct product contact, including roles in QC, warehousing, and transport, but are externally  reported as white-collar from FY 2023/24; blue-collar employees work directly with products  at production sites, including apprentices. Headcount data is collected quarterly and report-  ed at the end of the financial year. Gender is reported across two categories, althoug 2  employees are reported as other. Permanent employees are defined as those on open-  ended contracts with no predetermined end date, while temporary employees are on fixed-  term contracts with a defined start and end date, such as maternity cover or traineeships.  Employees with no Ambu contract are excluded from headcount, but included under Staff  Cost in Section 2: Operating profit and tax, p. 145.Employee turnover rate is categorized as  voluntary, involuntary, retirement and death, respectively.Employee turnover is calculated  by dividing the total number of leavers, – voluntary, involuntary, and retirement – by the total  headcount and multiplying by 100. Voluntary turnover rate is calculated as sum of voluntary  leavers, including retirement divided by the average employee headcount.  Workforce characteristics  Number of employees (headcount)  Unit  2024/25  2023/24  Male employees  No  2,057  1,892  Female employees  2,948  2,852  Not reported  00Total employees  5,007  4,745  Geographic distribution  Unit  2024/25  2023/24  No  Australia  53  50  France  65  59  Denmark  557  483  Germany (innovation + sales)  183  166  Malaysia (all legal entities)  1,628  1,611  Mexico  672  649  United Kingdom  70  64  USA (production + sales)  737  786  China (production + sales)  817  691  Spain  50  44  Others  175  186  Total  5,007  4,745  § Accounting policy  The geographic distribution of employees is calculated by aggregating the total headcount within the specific  geographic locations where our legal entities are established. The calculation is based on total headcount at  year-end. Employees with no Ambu contract are excluded from headcount, but included under Staff Cost in Sec-  tion 2: Operating profit and tax, p. 145. Two employees identified as other and are included in the number of  total employees. A detailed breakdown is provided for locations with 50 or more employees. All other locations  are grouped under the “Others” category.  Headcount data is captured quarterly and represents consolidated data.  Collective bargaining and social dialogue  Collective bargaining  2024/25  Total percentage of employees covered by CBAs  18%  Coverage rate for countries  with less than 50 employees,  representing more than 10% of  total employees  0-19%  20-39%  40-59%  60-79%  80-100%  Collective bargaining coverage  Employees - EEA coverage  Denmark  France,  Belgium,  Netherlands,  Spain,  Italy  Social dialogue  Workplace representatives  France,  (EEA only)  Denmark  § Accounting policy  The coverage of collective bargaining is calculated by dividing the total number of employees covered by  CBAs during the reporting period by the total number of employees at Ambu, across all legal entities globally.  For entities with significant employment—defined as having more than 50 employees and representing at least  10% of Ambu’s total workforce – coverage is calculated at the entity level by dividing the number of employees  covered by CBAs by the total number of employees in that entity. Although we do not report the number of  employees covered by CBAs outside the EEA separately, this data is included in the calculation of the total  percentage of employees covered by CBAs. Only those in entities with more than 50 employees and represent-  ing at least 10% of the total workforce are reflected in our disclosures.  Workers’ representatives are employee-elected individuals who represent staff on matters such as working  conditions and the work environment.  For entities with significant employment, representation coverage is calculated by dividing the number of  employees represented by workers’ representatives by the total number of employees in that entity.Data for  both CBAs and workers’ representative coverage is collected annually through a structured survey distributed  to local People &amp; Culture representatives across all legal entities. This ensures consistency and comparability  across the organization and reflects the reporting period accurately.  Gender distribution, senior management  We define top management as the Executive Leadership Team and one level below that.  Headcount  Rate  Employees in top management by gender  2024/25  2024/25  Male  39  67%  Female  19  33%  Total employees  58  100%  Age distribution  Age distribution of employees in headcount  Unit  2024/25  &lt;30  %30  &gt;30; &lt;50  %56  &gt;50  %14  Adequate wage  All employees receive appropriate and adequate pay in accordance with legal and industry standards,  which are compiled in our Labor &amp; Human Rights Policy. Read more about our Labor &amp; Human Rights  Policy in Ambu's policies, p. 73, and more about Adequate wage audit, p. 107.  § Accounting policy  Gender distribution at Ambu is calculated by aggregating the total headcount for women and men in top  management. Top management is defined as one level below the Executive Leadership Team (ELT), consisting  of employees with direct reporting lines to an ELT member globally.  The distribution is measured quarterly. At the end of each reporting period, the number of women and men  in top management is summed and each gender’s share is calculated as a percentage of the total combined  headcount.  The age distribution of employees is calculated by aggregating the total headcount across three age groups:  under 30 (29 or below), 30 to 49, and 50 or above. The figures are based on an average taken over the report-  ing period, and percentages are calculated using the total workforce as the denominator to provide a propor-  tional view across the organization.  The adequate wage analysis covers Ambu’s three largest manufacturing locations: China, Malaysia, and  Mexico. These sites were selected based on their total headcount of direct and indirect blue-collar employ-  ees, which represents a significant portion of Ambu’s global workforce (~50%). Each employee’s base salary  is benchmarked against the applicable statutory minimum wage in accordance with the principles of ESRS.  All employees in these sites are paid at least an adequate wage in accordance with the applicable minimum  wage The analysis is based on compensation data extracted from our HR system, SuccessFactors. It includes  all employees at three selected manufacturing locations, blue-collar, indirect blue collar and white collar,  with the exception of interns. Each employee has their salary benchmarked against the applicable statuary  minimum wage. For China and Mexico, where minimum wage levels vary by region, the analysis applies to a  location-specific minimum wage corresponding to each employee’s work location to ensure accurate bench-  marking. For Mexico, where the minimum wage is reported daily, it is converted to an annual equivalent.  Health and safety metrics  Health and safety management system  Unit  2024/25  Percentage of employees in its own workforce who are covered by a health and safety  management system based on legal requirements and (or) recognized standards or  guidelines  %100  Fatalities  Unit  2024/25  Fatalities reported as a result of work-related injuries and work-related ill health  No  0Fatalities reported because of work-related injuries and ill health concerning other  workers at Ambu’s sites  No  0Workplace accidents  Unit  2024/25  Number of recordable work-related accidents for own workforce  No  84  Rate of recordable work-related accidents for own workforce (%)  %7Number of cases of recordable work-related ill health of employees  (sickness-absence rate)  No  2.04  Loss Time Injury Frequency (LTIF) per million hours worked  %0.796  § Accounting policy  Recordable work-related accidents: The number of recordable work-related accidents for our own workforce  includes two incidents with and without time lost.  All workplace accidents are reported locally through a centralized system. Reporting procedures and work-  place instructions are in place at all production sites, offices, and legal entities, including those without phys-  ical office locations. The rate of recordable work-related accidents is calculated by dividing the total work-re-  lated accidents by the total hours worked at year-end and multiplying it by 1,000,000. The total work-related  accidents include lost time accidents and accidents without loss time.  Lost Time Injury Frequency: LTIF is calculated by dividing the number of registered loss time injuries/accidents  by the total hours worked for the period and multiplying it by 1,000,000 hours worked. We have followed the  formula created by the Global General HSE Policy for calculating LTIF.  We collect this data on health and safety quarterly, and report on yearly numbers.  Compensation metrics  Gender pay gap  The gender pay gap reflects historical sector factors in the Science, Technology, Engineering, and  Mathematics (STEM) industry, where men typically occupy senior roles. Ambu is actively preparing for  the EU Pay Transparency Directive, and although the current gender pay gap is below the 5% thresh-  olds, we are committed to ensuring that all pay differences are based on objective, gender-neutral  criteria.  Remuneration ratios  The annual total remuneration ratio of the highest-paid individual to the median annual total remunera-  tion for all employees (excluding the highest-paid individual) is disclosed in the table below. This ratio  reflects the significant disparity in compensation within Ambu. Furthermore, we consider benefits in  cash, which is the sum of the base salary and cash allowance, bonuses, commissions, cash profit-shar-  ing and other forms of viable cash payment.  Gender pay gap and remuneration  Unit  2024/25  Gender pay gap (Denmark)  %5Annual total remuneration  Ratio  59  § Accounting policy  Gender pay gap: The analysis covers all salaried employees on Ambu A/S’s Danish payroll only, due to lim-  ited access to structured data at Group level. The gender pay gap is calculated as the percentage difference  between average male and female total remuneration, which includes base salary, allowances, pension  contributions, and target-value incentives. Ambu is actively preparing for the upcoming EU Pay Transparency  Directive, with reporting obligations already initiated under ESRS S1-16, while also improving the data struc-  tures at Group level. These early requirements are being addressed through enhanced data systems and  internal alignment.  Annual total remuneration ratio: Our Code of Conduct prescribes the principle of fair remuneration, ensuring  all employees receive at least the applicable national minimum wage. Salary levels for Operators across our  operations reflect this principle, as they are aligned with or exceed relevant minimum wage thresholds.  The CEO pay ratio is calculated by dividing the total annual remuneration of the CEO by the average total  remuneration of all employees, based on full-time equivalent figures across all geographies. This includes  fixed salary, bonuses, and other benefits.  The resulting ratio reflects the composition of our workforce across regions, differences in local purchasing  power, and our headquarters being located in Denmark.  Human rights impacts  We received no reports of human rights violations through our Speak Up – Integrity Line. We recorded six  people-related cases concerning discrimination and harassment. Of these, five related to discrimination:  four were investigated and closed without substantiation, and one investigation remains ongoing. One  case concerned harassment and led to the termination of the employee following a completed investiga-  tion. Throughout the year, we continued to promote awareness of our grievance mechanisms to ensure  completeness of data and encourage reporting. We recognize that some cases may go unreported, and  we remain committed to strengthening our internal governance and fostering a culture of transparency  and accountability.  Human rights incidents  Unit  2024/25  Number of  reported  Type of incident  incidents  Discrimination  No  5Harassment  No  1Total  No  6Amount of fines, penalties, and compensation  Unit  2024/25  Amount of material fines, penalties, and compensation for damages  as a result of violations regarding social and human rights factors  DKK  0Compensation for damages  DKK  0§ Accounting policy  The numbers of incidents of discrimination and harassment were sourced directly from our Speak Up – Integrity  Line. The disclosed amount has been reconciled with the financial statements. In 2024/25, the total amount  of fines, penalties, and compensation for damages resulting from such incidents amounted to DKKm 0. This  includes DKKm 0 in fines, DKKm 0 in penalties, and DKKm 0 in compensation for damages.  This figure aligns with the DKKm 0 presented in the financial statements, ensuring transparency and account-  ability in addressing these serious matters.  S2 WORKERS IN  THE VALUE CHAIN  At Ambu, we uphold high ethical standards and prioritize the rights  and well-being of workers across our value chain. Through our  Responsible Supplier Program, we integrate environmental, social,  and governance criteria into supplier selection and engagement.  Supported by our Code of Conduct for Business Partners and regular  assessments, we work to ensure fair labor practices, safe working  conditions, and a resilient, sustainable supply chain.  Our approach  Impacts, risks, and opportunities  As a global company, we rely on a broad value  chain of thousands of suppliers who provide  goods and services essential to our business. This  means we directly and indirectly impact workers  across our value chain – whether through sourc-  ing raw materials for our medical devices, hiring  external contractors for expansion projects, or  partnering with logistics providers to distribute  our products.  Our suppliers are primarily located in parts of  Northern Europe, South and Southeast Asia,  and North America. Across these regions, our  operations can influence value chain workers’  interests, views, and rights in several ways. Our  procurement decisions may affect labor condi-  tions, including wage levels, working hours, and  the ability to exercise freedom of association, to  varying extents. In manufacturing and construc-  tion environments, our requirements may have  implications for occupational health and safety,  potentially exposing workers to physical risks. We  aim to mitigate these risks through our Code of  Conduct for Business Partners and our Responsi-  ble Supplier Program. We carry out supplier audits  and screen suppliers for safe working conditions,  child labor, and climate-related criteria. The pro-  duction and transportation of goods can involve  environmental hazards that may impact workers’  well-being.  Our business relationships can impact access to  social protection, job security, and opportunities  for skill development, all of which are important  for workers’ rights and long-term welfare. We  aim to ensure that all partners across our global  value chain meet and uphold minimum require-  ments for human rights, social standards, health  and safety, and environmental responsibility. All  value chain workers who are likely to be materially  impacted by our operations, whether through  our products, services, or business relationships,  are included in the scope of this disclosure. Value  chain workers who could be materially impacted  by our activities are primarily those employed by  entities in our upstream supply chain, including  manufacturing and processing partners. While  we do not operate in raw material extraction, we  engage suppliers whose operations may involve  risks related to working conditions, child labor,  and climate-related impacts. These considera-  tions are part of our supplier screening and audit  procedures.  Ambu does not operate through joint ventures  or special purpose vehicles. Therefore, no value  chain workers materially impacted by our activities  are employed in such structures.  Asia has been identified as a region where there  is an elevated risk of child or forced labor, partly  due to the presence of migrant workers. This has  been recognized as a potential negative impact  and may pose risks of labor rights violations. We  acknowledge this as a systemic issue and are  actively addressing it through rigorous due dili-  gence when engaging with both existing and new  suppliers. When assessing this potential negative  impact, we have prioritized its likelihood. We  recognize the risk of reputational damage if these  impacts are not addressed appropriately and in a  timely manner.  We have assessed potential impacts across our  value chain and identified that material impacts  are primarily present in the upstream segment,  particularly in sourcing and manufacturing  activities. As a result, workers in the downstream  value chain – such as those employed by logistics  providers, distributors, franchisees, or retailers  – are not currently included in the scope of this  disclosure, as no significant impacts have been  identified in those areas.  Policies related to value chain workers  We are firmly committed to upholding human  rights across our operations and value chain.  This commitment is embedded in both the  Ambu Code of Conduct and the Ambu Code of  Conduct for Business Partners, which guide our  ethical standards and expectations. Together  with our Human &amp; Labor Rights Policy, this com-  mitment reflects our alignment with key interna-  tional standards, including the Universal Decla-  ration of Human Rights, the International Labor  Organization’s Declaration (ILO) on Fundamental  Principles and Rights at Work, and the UN Guid-  ing Principles on Business and Human Rights.  These principles are integrated into our overall  approach to responsible business conduct.  We are committed to establishing processes  to identify, prevent, and mitigate potential and  actual adverse human rights impacts that we may  cause or contribute to through our direct opera-  tions, or that we may be contributing to or linked  to via our business activities with partners. We  are dedicated to remediating any adverse human  rights impacts that we either cause directly or to  which we contribute.  As part of our Labor &amp; Human Rights Policy, we  engage external experts to review our policies  and procedures and involve relevant stakehold-  ers in our due diligence processes and discus-  sions on remediation. We maintain appropriate  grievance mechanisms to enable stakeholders  to raise concerns. Additionally, where we have  the potential to influence other parties directly  linked to our operations, we use our leverage  to encourage them to cease activities that may  lead to adverse human rights impacts, should we  become aware of such issues.  In addition to endorsing the Ten Principles of the  UN Global Compact, our Code of Conduct for  business partners and our Labor &amp; Human Rights  Policy are grounded in internationally recognized  standards. These include the UN Guiding Princi-  ples on Business and Human Rights, the OECD  Guidelines for Multinational Enterprises, and the  OECD Due Diligence Guidance for Responsible  Supply Chains of Minerals from Conflict-Affected  and High-Risk Areas. We also align with the Con-  ventions of the ILO, particularly its fundamental  principles and rights at work.  Our Code of Conduct reflects both national and  international standards, including the Universal  Declaration of Human Rights, as codified in the  International Covenant on Civil and Political  Rights (ICCPR) and the International Covenant  on Economic, Social and Cultural Rights. It also  incorporates the Guiding Principles of the Drive  Sustainability initiative.  No breach of the UN Guiding Principles on  Business and Human Rights, the ILO Declaration  on Fundamental Principles and Rights at Work,  or the OECD Guidelines for Multinational Enter-  prises involving value chain workers, has been  identified this financial year.  Please read more about our policies related to  value chain workers at Ambu's policies, pp.  73-76.  Engagement with value chain workers  We have established a process to respond when  potential adverse impacts on value chain workers  are identified. In such cases, we act to ensure  that the issue is addressed with transparency  and accountability, in line with our commitment  to international human rights principles. Engage-  ment is overseen by the Senior Director, Sustain-  ability and Risk &amp; Compliance.  We explicitly address human trafficking, forced  labor, and child labor in our Code of Conduct for  Business Partners. To promote ethical and envi-  ronmentally responsible practices, we are com-  mitted to assessing, monitoring, and addressing  human rights risks across our operations and  value chain. Through our Responsible Supplier  Program and Code of Conduct for Business Part-  ners, we set clear expectations for suppliers – not  only in terms of quality and cost – but also across  a broad spectrum of sustainability and integrity  criteria, including business ethics, human rights,  labor standards, environmental impact, and  awareness.  We are actively preparing to meet emerging  regulatory requirements, such as the Corporate  Sustainability Due Diligence Directive (CSDDD).  These efforts are aimed at reducing or eliminat-  ing human rights-related risks, strengthening  value chain resilience, and ensuring the con-  tinued delivery of high-quality products to our  customers.  We engage with workers in our value chain  through audits conducted as part of our Respon-  sible Supplier Program. Our Procurement team  initiates contact with suppliers classified as  medium or high risk. When a supplier falls into  one of these categories, we carry out supplier  audits, which include direct interviews with  employees to gain insight into working con-  ditions and practices. Supplier questionaires  are given to all new high-spend suppliers, and  based on scoring, we determine whether a direct  audit is necessary. We also offer access to our  Speak Up - Integrity Line, a channel for reporting  potential violations or sharing feedback. It is  available to anyone who wishes to raise concerns  or contribute to continuous improvement across  our value chain. Read more about its governance  under Speak Up - Integrity Line, p. 47.  Our mitigation efforts are action-oriented and  tailored to the nature of the risk or negative  impact we contribute to. These may include  follow-up questionnaires, on-site visits, and  audits, and always involve the implementation  of a targeted improvement plan. We do not have  a specific mechanism which would assess value  chain workers' access to our Speak Up - Integrity  Line.  Our Code of Conduct for Business Partners,  which forms part of our supplier agreements,  includes provisions on the protection of human  rights. At present, we do not apply additional or  separate contractual clauses beyond this frame-  work. Read more about our Code of Conduct for  Business Partners under Ambu's policies, p. 73.  We have updated our Code of Conduct for  Business Partners to reflect relevant interna-  tional standards, reporting requirements, and  grievance mechanisms – including access to the  Speak Up - Integrity Line. The Code of Conduct  outlines expectations around remedies and  continuous improvement. Further details of our  approach to remediation can be found under  Code of Conduct for Business Partners, p. 73.  As part of the Code of Conduct for Business Part-  ners, we have Global Framework Unions in place.  The perspectives of value chain workers do not  directly inform our decisions or activities aimed  at managing actual or potential impacts. How-  ever, all suppliers are required to sign our Code  of Conduct for Business Partners, which outlines  expectations related to safe working conditions,  child labor, and ethical practices. This framework  supports our efforts to mitigate negative impacts  across the supply chain.  We have taken initial steps to address and reme-  diate human rights impacts affecting workers  in our value chain. We recognize the need for a  more structured and comprehensive approach  to fully meet the requirements of ESRS S2. To  conclude, we are committed to developing and  implementing a due diligence policy that will out-  line specific actions aligned with identified IROs  related to value chain workers. The policy will  also provide justifications for any actions not yet  adopted. Implementation is planned for 2026/27.  We engage with medium- and high-risk suppliers  through audits, on-site visits, and close moni-  toring – typically following the completion of our  due diligence questionnaire. In preparation for  the upcoming CSDDD, Ambu is developing a  more robust procedure that will put greater focus  on the human rights of value chain workers and  strengthen our engagement measures. Imple-  mentation is planned for 2026/27. We have not  taken any specific actions this financial year, and  impementation of action is planned for 2026/27.  We have not yet established specific targets for  value chain workers, as we are currently develop-  ing a formal due diligence policy.  S4 CONSUMERS  AND END USERS  At Ambu, we are committed to delivering safe, effective, and  sustainable medical solutions that meet the needs of healthcare  professionals and patients. We prioritize product safety, trans-  parency, and innovation, incorporating user feedback into develop-  ment to support high-quality care and reduce environmental impact.  Through responsible marketing and post-market surveillance, we  aim to build trust and enhance the user experience.  Our approach  Impacts, risks, and opportunities  We identify our consumers and end users who  are materially impacted by our operations as  follows:  1. Consumers primarily include private, public,  and regional hospitals – healthcare organiza-  tions (HCOs).  2. End users primarily include physicians and  nurses who operate our devices – healthcare  professionals (HCPs).  These stakeholder groups are defined based on  their financial and functional roles: the organi-  zations purchasing our products are considered  consumers, while the healthcare professionals  who use our devices are classified as end users.  We do not classify patients as end users, as they  do not directly handle or perform procedures  using our products.  Building on this definition, our stakeholder  engagement process for assessing material  impacts across affected groups focuses on  maintaining an ongoing understanding of the  needs and concerns of both consumers and end  users. These insights are essential for identifying  material IROs and for informing decision-making  related to IRO management and oversight,  as well as product development, safety, and  affordability in priority markets. All consumers  and end users may be materially affected by our  operations and activities across the value chain,  although the nature and extent of these impacts  can vary between stakeholder groups. No spe-  cific stakeholder groups have been found to be  particularly vulnerable to our sales and marketing  practices.  We have a positive impact on HCPs and health  systems by equipping them with the tools they  need to deliver timely diagnoses and effective,  high-performance treatment. Our solutions  directly support health systems by enabling  broader access to high-quality, affordable care.  In addition, our medical solutions support front-  line clinicians, relieving staff shortages, and help  reduce operational costs.  We have identified material negative impacts  related to product quality and safety, as our  products may affect end users if they do not  meet established quality and safety standards.  To address these impacts, we act swiftly and  responsibly by initiating product recalls to  safeguard end user well-being and uphold our  commitment to quality.  Product quality and safety are also identified  as material risks in our DMA, along with cyber-  security and data protection. In parallel, our  risk assessment identifies the importance of  maintaining rigorous quality and safety assur-  ance processes within our Quality Management  System (QMS). To manage these risks, our QMS  complies with ISO 13485, MDSAP, EU MDR, and  UKCA standards, helping to reduce product  safety issues, recalls, and financial risk. Address-  ing equipment failures, defects, or inadequate  risk disclosures also helps limit liability and  protect shareholder value. If we do not uphold  our commitment to delivering high-quality, safe  products, we may face reputational damage,  business disruption, and financial consequences,  including product recalls or regulatory actions,  such as FDA warnings.  We also identify opportunities to strengthen  product quality and safety. All Ambu products are  accompanied by manuals and labels designed  to support correct handling, cleaning, and main-  tenance, helping to prevent damage and ensure  safe use. In addition, the information on product  safety and quality is publicly available on our  corporate website, reflecting our commitment to  transparency and accountability. These measures  complement our QMS and reinforce our com-  mitment to delivering reliable, high-performance  solutions for HCPs that meet applicable regulatory  standards and are designed for both safety and  effectiveness. Based on the current assessment,  we have not identified any increased risk of harm  to consumers or end users, defined as HCPs who  operate our products. However, we recognize that  delays in diagnosis or treatment may indirectly  affect patient outcomes, underscoring the impor-  tance of timely access to safe and effective medi-  cal devices.  We have identified fair product cost and afford-  ability as impact areas for certain consumer  groups. Fair pricing not only helps contain health-  care costs but also supports revenue growth by  enabling broader access to our solutions. While  we have not identified specific consumers or end  users – primarily HCPs – as disproportionately  affected, we have strategically withdrawn from  selected emerging markets to focus on fewer,  prioritized geographies.  We consider the United Nations Guiding Princi-  ples on Business and Human Rights to reference  the International Bill of Human Rights, which  includes the Universal Declaration of Human  Rights and the two Covenants that implement it.  This understanding informs the alignment of our  human rights policies and practices in relation to  consumers and end-users.  Read more about our IROs related to consumers  and end users under IRO overview pp. 67-72.  Policies related to our  consumers and end users  Our policies related to consumers and end users  are found in Ambu's policies, pp. 73-76.  All our policies are currently being updated  to fully align with the UN Guiding Principles,  ILO Conventions, and OECD Guidelines. Our  Healthcare Professionals Engagement Policy  directly addresses respect for human rights,  engagement with consumers and end users,  and measures to remedy any adverse impacts.  Our policies are also aligned with the MedTech  Europe Code of Ethical Business Practice and  the AdvaMed Code of Ethics. Entities operating  outside this scope are also expected to comply  with the same standards.  We have not identified any human rights viola-  tions involving consumers and end users in our  downstream value chain.  Customer-centric engagement  Consumers and end users remain the main  strategic priority for us, and we place signifi-  cant value on their perspectives. Read more  about customer engagement at Engaging with  stakeholders, p. 63. Across all key markets, we  deliver innovative solutions that address real  clinical needs. Our actions are guided by market  indicators, performance data, and direct input  from consumers and end users. In response  to encouraging feedback from our controlled  market release, we launched our Ambu® Sure-  Sight™ Connect solution in North America and  the UK. We also engaged in a global launch of  our new ureteroscopy solution, Ambu® aScope™  5 Uretero, marking our expansion in Urology into  kidney stone management and more complex  clinical procedures.  We engage with consumers and end users either  directly, as outlined in our Engagement Policy,  or through credible proxies – primarily our own  workforce – following the Global Engagement  of Healthcare Professionals Policy. To ensure  transparency and compliance, the engagement  registration form must be completed for every  interaction we have with healthcare profession-  als. The most senior role responsible for ensuring  stakeholder engagement and integrating its out-  comes into Ambu’s strategic approach is the Senior  Director, Sustainability and Risk &amp; Compliance. Our  engagement with HCPs is illustrated below.  We recognize the significant overlap in regu-  latory requirements across jurisdictions and  have established a unified process to ensure we  meet all obligations effectively and consistently.  Requirements related to supplier control are  addressed in a dedicated quality procedure,  while interactions with HCPs are covered in a  separate procedure tailored to those specific  needs. These requirements are fully integrated  into this policy to ensure alignment and compli-  ance across our operations.  Ambu has not yet taken targeted steps to under-  stand the perspectives of particularly vulnerable  or marginalized consumer and end-user groups.  We recognize this as an important area for future  development and are committed to strengthen-  ing our stakeholder engagement to ensure a  more inclusive and representative approach.  Our engagement with healthcare professionals  Selection of  Remuneration  Use of Ambu  Signing of  Engagement  Payment for  HCP from list  of HPC set  standard  agreement  registration  service  of approved  →according to  →agreement  →&amp; employer  →incl. attach-  →HCPs  fair-market-  notification  ment of  value  agreement  Three-step  investigation process  1. Pre-investigation  Case intake and assignment  2. Investigation  Planning and execution of  investigative activities  3. Post-investigation  Conclusion, reporting,  sanctions, and follow-up  Grievance mechanisms  Ambu addresses material impacts on consumers  and end users at the local level, with each case  managed individually to ensure context-specific  and timely resolution. This process is currently  decentralized, allowing for tailored responses  that reflect the unique circumstances of each  situation.  Ambu encourages consumers and end users  to report any concerns through our Speak Up -  Integrity Line or other available channels, such as  audits or external complaints. A dedicated SOP  ensures all investigations are handled consis-  tently and thoroughly.  Issues raised typically follow a three-step investi-  gation process.  Read more about our case management process,  reporting grievances, investigation procedure  under Speak Up - Integrity Line, p. 47. Read  more about our Anti-Retaliation Policy under  Ambu's policies, p. 74.  Addressing consumer needs  Ambu actively pursues initiatives aimed at con-  tributing to improved social outcomes, trust, and  well-being among our consumers and end users.  These initiatives include community engagement  programs, educational campaigns on safe pro-  duct use, and partnerships with health organiza-  tions to enhance public health standards.  To prevent, mitigate, or remediate material  negative impacts on consumers and end users,  we have selected actions that stem from our poli-  cies. We have implemented measures to provide  or enable remedies for actual material impacts.  When such incidents occur, we promptly address  them via corrective actions and support affected  stakeholders. This reflects our commitment  to upholding high standards of accountability  and transparency in our business activities. By  implementing these actions, we ensure that  we avoid contributing to any material negative  impacts on consumers and end users – including  in areas such as sales and marketing data use.  Various teams across the organization have been  involved in executing these actions and manag-  ing related impacts. These efforts represent a  strategic priority and are embedded in our val-  ues, Corporate Strategy, and Code of Conduct.  Please see our actions for consumers and end  users on the next page. We have not yet set spe-  cific targets for these groups, however, we recog-  nize the importance of this area and are commit-  ted to revisiting and evaluating our approach in  the coming year.  Our actions  Quality standards for our products  Upholding quality standards in our solu-  tions and processes is Ambu’s license to  operate and a core requirement for deliver-  ing high-quality solutions to the market. The  Ambu Quality Management System (QMS)  covers all aspects of our operations, includ-  ing management responsibilities, design  control, risk management, process and pro-  duction controls, and product surveillance.  It ensures compliance with all applicable  regulatory requirements. This is an ongo-  ing action embedded in our operational  framework, supported by dedicated internal  resources and systems. We continuously  allocate operational capacity to maintain  and improve our QMS, ensuring it evolves  in line with regulatory changes and product  innovation.  Responsible marketing  Ambu’s marketing activities are governed  by our Marketing Policy, which ensures that  all communications – regardless of audience  – are truthful, accurate, and aligned with  the intended purpose and scope of use.  All claims must be factual, verifiable, and  supported by appropriate documentation.  Our marketing materials do not include  spot prices, promotional gifts, competi-  tions, or premature results from ongoing  clinical trials, nor do they contain personal  interpretations of clinical data. These princi-  ples apply consistently across comparative  advertising, electronic marketing, and B2B  communications. Ethical marketing is an  ongoing commitment embedded in our  operations, supported by internal resources  and oversight mechanisms to ensure com-  pliance and integrity across all markets. This  action is ongoing.  Data privacy, data safety, and  cybersecurity  Ambu ensures responsible handling of  personal data through the use of Complyon,  a documentation system that supports  compliance with applicable data privacy  legislation. Complyon enables structured  documentation of how personal data is  processed across the organization. To  strengthen local ownership and compliance,  privacy champions have been appointed  within individual departments and busi-  ness areas. These individuals consolidate  operational and legal knowledge relevant to  their specific functions, ensuring that data  privacy practices are tailored, accurate, and  effectively implemented. This is an ongoing  initiative embedded in Ambu’s governance  framework, supported by internal resources  and continuously maintained to reflect  evolving regulatory requirements and  operational needs.  Providing innovative solutions (access  to quality and affordable care IRO)  Ambu is committed to delivering innovative solu-  tions that address real clinical needs and improve  access to high-quality care. Over the reporting  period, we achieved several milestones that reflect  this commitment: Regulatory clearance was  obtained in the North America and the UK for Ambu®  SureSight™ Connect, our new video laryngoscopy  solution. Following positive feedback from a con-  trolled market release, commercial activities have  been initiated here. Also, we obtained FDA clearence  for our Ambu® aScope™ 5 Cysto HD solution and  furthermore obtained an extended clearance for the  solution to be used as a cysto-nephroscope for PCNL  procedures. Lastly, we engaged in a global launch of  our Ambu® aScope™ 5 Uretero solution, expanding  our offering in Urology. These actions are all part of  our ongoing innovation strategy, supported by inter-  nal resources and embedded in our product  development processes to ensure continuous  improvement and responsiveness to healthcare  needs. Actions are ongoing.  GOVERNANCE  We drive ethical business practices through strong governance.  This includes Code of Conduct training for employees and  business partners, and adherence to supplier payment  terms. These measures promote transparency, fairness, and  accountability across our operations and value chain.  2024/25 highlights  99% 98%  of employees completed  of suppliers have signed  Code of Conduct training  our Code of Conduct  for Business Partners  G1 GOVERNANCE  At Ambu, ethical conduct is foundational to medical device safety and  patient care. We uphold transparent, responsible practices aligned  with stakeholder expectations, guided by our Code of Conduct. Our  governance ensures compliance, supports sustainability, and fosters  long-term value – via anti-corruption measures and a speak-up culture  via Our Speak Up - Integrity Line. We have seen positive impacts  in ethics, principles, and supplier relations, strengthened by our  Responsible Supplier Program. To safeguard market access and trust,  we maintain rigorous standards across the organization.  Our approach  Impacts, risks, and opportunities  At Ambu, the administrative, management, and  supervisory bodies play a crucial role in oversee-  ing business conduct. They are responsible for  setting ethical standards, ensuring regulatory  compliance, and guiding our strategic direc-  tion. These bodies regularly review policies and  practices to ensure alignment with our company  values and our commitment to ethical business  operations.  These governing bodies possess extensive  expertise in business conduct, including a deep  understanding of regulatory requirements, ethical  standards, and best practices in corporate gover-  nance. Their collective experience ensures that  Ambu operates with integrity, accountability, and  a strong commitment to ethical practices.  Our approach to corporate business conduct is  outlined in Ambu’s Code of Conduct, which is  accessible to all employees.  As a MedTech company, we have the potential  to positively impact society through our medical  devices and solutions, benefiting patients, custo-  mers, stakeholders, and society at large. Our  environmental and climate impact is amplified  through collaborative projects with healthcare  providers. Continuous skill development is essen-  tial to ensuring employee satisfaction and profes-  sional growth.  We have identified positive impacts in business  ethics, general principles, and supplier relation-  ships – strengthened by Ambu’s Responsible  Supplier Program. We uphold high standards at all  times, as ethical breahces risk market access and  stakeholder trust.  We have also identified risks related to corporate  reporting, business ethics, particularly the risk of  non-compliance with business conduct rules and  regulations. Additionally, there is a risk associated  with not effectively streamlining our operations, as  well as the potential for revenue loss and reputa-  tional damage if our supply chain lacks resilience  – for example, due to poor working conditions or  inadequate environmental performance among  suppliers.  We recognize the opportunity for Ambu to grow  by creating a simplified and more agile operating  model, which would enhance the execution of our  strategic objectives.  Business conduct and ethics  We address our policies regarding business con-  duct and corporate culture in detail in the section  on Ambu's policies, pp. 73-76.  Ambu enforces strict supplier compliance with our  Code of Conduct for Business Partners, mitigating  ESG and operational risks. Currently, 98% of sup-  pliers have signed, reflecting strong governance  and progress toward full adherence.  As of now, 99% of all our employees – including  white-collar, blue-collar, and indirect blue-col-  lar staff globally – have completed the Code of  Conduct training. All white-collar employees are  required to complete an annual e-learning module  on the Code of Conduct, which includes training  on anti-corruption and bribery. Blue-collar  employees participate in in-person training  sessions covering the same topics.  These training initiatives ensure that all employ-  ees and partners are aligned with our ethical  standards and business conduct expectations.  Employees are informed about the expected  ethical standards, the potential consequences  of non-compliance with relevant guidelines and  policies, and the available channels for reporting  concerns.  The ELT is considered an at-risk function, and  Global Risk &amp; Compliance conducts annual  in-person training with its members in connection  with the BoD meeting, where detailed risks are  discussed.  Following a recorded conflict of interest incident  in China, Ambu conducted a targeted screening  to identify specific functions at risk. This included  employees from Finance, Operations, Supply  Chain, Quality &amp; Assurance, and Procurement.  All identified employees received specialized  training on conflict of interest during the current  financial year, with 100% of all functions at risk of  corruption and bribery receiving related training.  Outside of the procedures described in this chap-  ter, we do not report any new actions undertaken  during this financial year, as existing measures  to mitigate risks of corruption, bribery, and mis-  conduct were already in place prior to CSRD and  continue to be maintained based on business  necessity.  Managing supplier risk  and due diligence  In Ambu, we have implemented our Global  Procurement Policy, which sets the direction for  our global procurement activities. The policy  provides clear guidelines aimed at minimizing  the impacts of disruptions to our supply chains  through:  1. Outlining purchasing principles applicable for  all own employees and external consultants  making a purchase on behalf of Ambu, or in  relation to work at Ambu.  2. Assessing supplier risk and quality class –  Ambu suppliers are classified through a risk-  based approach where risk of the product/  service bought is considered in relation to  patient safety. The quality class is assigned  from high risk (A), medium risk (B), low risk (C)  to no risk (D). For detailed definition, see the  above-mentioned policy at Ambu's policies,  pp. 73-76.  3. Sustainable Procurement – Purchases from  suppliers in Ambu should account for the  environmental and social impacts through-  out the entire life cycle of their purchase, not  just at factors like price and quality. We have  developed a Responsible Supplier Program  to ensure a careful selection of suppliers that  adheres to relevant legislation for current and  future suppliers, and that adheres to the UN  Global Compact.  4. Dealing with vulnerable suppliers – we deal  with vulnerable suppliers via the above-men-  tioned risk assessment. If the risk profiling is  low risk, the supplier is sustainability approved.  If the outcome is medium risk or high risk, a  supplier improvement plan must be initiated.  5. Sustainability due diligence process – The pur-  pose of the due diligence process is to assess  potential needs for improvements and to verify  that potential improvement actions have been  completed.  Social and environmental criteria are considered  in our Responsible Supplier Program. This is  done through a risk profiling assessment for  each supplier in scope. The risk profiling is based  on 7 parameters:  1. Ambu spend with supplier  2. Quality class  3. Country risk  4. Certificates  5. Supplier revenue  6. Supplier number of employees  7. Local, national, or global supplier  After risk profiling, the suppliers are divided into  high-risk suppliers, medium-risk suppliers, and  low-risk suppliers. If the outcome of risk profiling  is medium risk or high risk, a supplier improve-  ment plan must be initiated. Our suppliers must  go through the sustainability due diligence pro-  cess to assess potential sustainability risks asso-  ciated with the suppliers, to identify potential  needs for improvements, and to verify potential  improvement actions that have been completed.  The process could consist of a supplier sustain-  ability questionnaire, supplier improvement plan,  and supplier visits. If the supplier is identified as  a low risk profile; if they can be approved based  on the supplier due diligence questionnaire;  if the supplier implementation of the supplier  improvement plan can be verified; and if the sup-  plier can be approved based on supplier visit, the  supplier will be approved as sustainable.  All suppliers in scope are monitored on an  ongoing basis. Periodical audits will be carried  out of a selected group of suppliers. Depending  on the result of risk profiling, the supplier must  be reassessed every 2 or 3 years, depending on  their risk levels.  Ambu does not specifically address SMEs in our  policies. This is something we aim to revisit in the  next financial year.  Read more under Speak Up - Integrity Line, p.  47, and learn more about our Anti-Retaliation  Policy and Anti-Corruption &amp; Bribery Policy under  Ambu's policies, pp. 73-76.  Anti-corruption and bribery  The Hotline Committee Secretariat consists of a  Global Risk &amp; Compliance team, that reports to  the CFO and AC. The investigators are separate  from the chain of management involved in the  matter. The reporting process for investigation  outcomes or accusations aligns with the govern-  ance structure outlined in our management  responsibilities. Read more about our investiga-  tion procedure, reporting grievances, protection  of whistleblowers, governance and proceses for  reporting corruption and bribery under Speak Up  - Integrity Line, p. 47. Also, read more about our  Anti-Retaliation Policy, Ambu's policies, p. 74.  Policies are communicated to all internal stake-  holders (employees), and external stakeholders  (business partners, suppliers, etc.) either via  corporate intranet, Global Risk &amp; Compliance  campaigns, or via on-site trainings conducted by  the Global Risk &amp; Compliance.  As a member of the UN Global Compact, we have  access to training in ethical trade practices and  provide internal training during meetings. While  no mandatory programs were in place last finan-  cial year, we ensure that members of our admini-  strative, management, and supervisory bodies  receive regular training on ethics, compliance,  and governance.  Locally, in our South sales territory (including Italy  and Spain), we have conducted anti-corruption  and bribery training for both business partners  and our internal salesforce. In China, Ambu  addressed a conflict of interest case by deliver-  ing targeted training to all relevant teams, with a  specific focus on organizations operating within  the region. The employee in question was ter-  minated. We conduct training on corruption and  bribery regularly with our own employees and  business partners. These actions occur based on  location, with primary focus on those locations  with higher risk of corruption and bribery (such  as Italy, Spain, and China).We do not support  political parties, lobbying, or any political activity,  reflecting our commitment to ethical business  practices and neutrality, as outlined in our Codes  of Conduct.  Corruption and bribery  Unit  2024/25  Fines for violation of anti-cor-  ruption and anti-bribery laws  DKKm  0Confirmed incidents of corrup-  tion or bribery  No  1Confirmed incidents in which  own workers were dismissed  or disciplined for corruption or  bribery-related incidents  No  1Confirmed incidents relating to  contracts with business part-  ners that were terminated or  not renewed, due to violations  related to corruption or briberyNo  0Information about details of  public legal cases regarding  corruption or bribery brought  against Ambu and own workers  about the outcomes of such  cases  No  N/A  Payment practices  We apply standard payment terms of month-  end plus 95 days consistently across all supplier  categories - Direct, Indirect, and Finished Goods  - to ensure fair and uniform treatment globally,  stemming from our Procurement Policy.  In 2024/25, 98% of payments were made on time,  with ~2% paid after the defined contractual term.  Timing variations may occur due to supplier-  specific arrangements or administrative factors,  but no legal proceedings or fines were incurred.  Payment practices  Unit  2024/25  Number of fines for late  payments  No  0Average days for payment  to suppliers  No  36  Percentage of payments  with agreed terms  %98  § Accounting policy  The average payment period within contractual  terms is calculated by comparing actual payment  dates against Ambu’s standard payment terms. This  metric is based on invoice data from all Ambu legal  entities, with the exception of China and Malaysia,  which operate under distinct supplier agreements  and payment terms; neither reported fines for late  payments during the reporting period. A negative  value indicates payments made after the defined  contractual term. In addition, Ambu reports the per-  centage of invoices aligned with its standard pay-  ment terms, calculated as the proportion of global  invoices that follow the company’s defined payment  practices.  ESRS DISCLOSURE INDEX  Forward-looking statements  This sustainability statement includes forward-looking statements based on disclosed assumptions  about events that may occur in the future, and possible future actions by Ambu. Actual outcomes are  likely to be different since anticipated events frequently do not occur as expected.  Reader's guide for sustainability statement  This sustainability statement has been prepared in accordance with the EU Corporate Sustainability  Reporting Directive (CSRD) and the European Sustainability Reporting Standards (ESRS). It outlines the  foundation of our approach, including Ambu’s DMA, our six most material sustainability topics (ESRS  E1, ESRS E5, ESRS S1, ESRS S2, ESRS S4, ESRS G1), and their associated impacts, risks, and opportu-  nities. Subsequent sections detail our performance and initiatives across Environmental, Social, and  Governance areas, including our approach, actions, targets, and key metrics for each material topic.  Under each metric, we listed an accounting policy to showcase our calculation methodology, and our  data sources, including where we used estimates. The sustainability statement was subjected to limited  assurance by idenpendent auditors.  ESRS DISCLOSURE INDEX  ESRS 2  General disclosures  Section/report  Page Comment  BP-1  General basis for preparation of sustain-  Sustainability statement58  Basis for prepara-  ability statement  tion  BP-2  Disclosures in relation to specific circum-  Sustainability statement58  Basis for prepara-  stances  tion, Estimates and  uncretainties  GOV-1  The role of the administrative, manage-  Management review  44-46; Corporate  ment, and supervisory bodies  48-51 governance,  Management  responsibilities  GOV-2  Information provided to and sustainability  Sustainability statement44-46; Corporate gover-  matters addressed by Ambu’s administra-  48-51 nance, Sustainabi-  tive, management, and supervisory bodiesManagement review  60  lity governance  GOV-3  Integration of sustainability-related perfor-Management review  42-43 Remuneration  mance in incentive schemes  GOV-4  Statement of sustainability due diligence  Sustainability statement61  Statement on  Ambu's due  diligence  GOV-5  Risk management and internal controls  Sustainability statement61  Sustainability  over sustainability reporting  reporting data  controls  SBM-1  Strategy, business model, and value chain  Management review  7-8  Business highlights,  23-24 Business model,  Sustainability statement25  Value chain,  62  Leading in  sustainability  SBM-2  Interests and views of stakeholders  Sustainability statement62-63 Engaging with  stakeholders  SBM-3  Material impacts, risks, and opportunities,  Sustainability statement64-72 Double materiality  and their interaction with strategy and  assessment, IRO  business model  overview  IRO-1  Processes to identify and assess material  Sustainability statement65  DMA process  IROs  IRO-2  Requirements in ESRS covered by Ambu’s  Sustainability statement67-72 IRO overview  sustainability statement  Annual Report 2024/25  ESRS E1  Climate change  Section/report  Page Comment  E1-GOV-3 Sustainability-related performance  Management review  42-43 Remuneration  in incentive schemes  E1-1  Climate transition plan  Sustainability statement80  Climate transition  plan  ESRS 2,  Material IROs and their interaction with  Sustainability statement78-80 Our approach -  SBM-3  strategy and business model  Impacts, risks,  and opportunities  ESRS 2,  Description of the processes  Sustainability statement78-80 Our approach -  IRO-1  to identify and assess material climate-  Impacts, risks,  related impacts, risks, and opportunities  and opportunities  E1-2  Policies related to climate change  Sustainability statement73-76 Environmental  mitigation and adaptation  81  Policy, Ambu's  policies  E1-3  Actions and resources in relation to climateSustainability statement81-83 Levers to reduce  change policies  global emissions,  Our climate  change actions  E1-4  Targets related to climate change mitiga-  Sustainability statement84  Carbon reduction  tion and adaptation  targets  E1-5  Energy consumption and mix  Sustainability statement85  Energy  E1-6  Gross scope 1, 2, 3, and total  Sustainability statement86-88 Our carbon  GHG emissions  footprint  E1-7  GHG removals, carbon credits  Non-material  -E1-8  Internal carbon pricing  Non-material  -E1-9  Anticipated financial effects from material  Phase-in  -physical and transition risks and potential  climate-related opportunities  ESRS DISCLOSURE INDEX  ESRS E5  Resource use and circular economy  Section/report  Page Comment  ESRS 2  Descriptions of the processes to identify  Sustainability  67-72 IRO overview,  IRO-1  and assess material resource use and cir-  statement  96-97 Our approach  cular economy-related impacts, risks, and  Impacts, risks,  opportunities  and opportunities  E5-1  Policies related to resource use and circularSustainability  97  Environmental  economy  statement  73-76 policies, Ambu's  policies  E5-2  Actions and resources related to resource  Sustainability  98  Our resource use,  use and circular economy  statement  circular economy,  and waste actions  E5-3  Targets related to resource use and circularSustainability  97  Environmetnal  economy  statement  policy  E5-4  Resource inflows  Sustainability  99  Resource inflows  statement  E5-5  Resource outflows and waste  Sustainability  100-  Resource  statement  101  outflows,  Waste  E5-6  Anticipated financial effects from resourcePhase-in  -use and circular economy related IROs  ESRS S1  Own workforce  Section/report  Page Comment  ESRS 2  Interests and views of stakeholders  Sustainability  62-63 Engaging with  SBM-2  statement  stakeholders  ESRS 2  Material IROs and their interaction with  Sustainability  103-  Our approach  SBM-3  strategy and business model  statement  104  Impacts, risks, and  opportunities  S1-1  Policies related to own workforce  Sustainability  73-76 Policies related  statement  104-  to own workforce,  105  Ambu's policies  S1-2  Processes with engaging with own workersSustainability  105  Engagement with  and worker’s representatives about impacts  statement  own workforce  S1-3  Processes to remediate negative impacts  Sustainability  106  Grievance mecha-  and channels for own workforce to raise  statement  nisms and providing  concerns  remedies  S1-4  Actions on material impacts, approach to  Sustainability  107  Own workforce  material risks, pursuing opportunities  statement  actions  S1-5  Targets related to own workforce  Sustainability  107  Targets related to  statement  own workforce  S1-6  Characteristics of own workforce  Sustainability  108-  Own workforce  statement  109  performance  S1-7  Non-employees in Ambu’s workforce  Phase-in  -S1-8  Collective bargaining agreements and  Sustainability  109  Collective  social dialogue  statement  bargaining and  social dialogue  S1-9  Diversity metrics  Sustainability  110  Gender distribution,  statement  Age distribution  S1-10  Adequate wages  Adequate wage  110  Adequate wage  S1-11  Social protection  Phase-in  -S1-12  Persons with disabilities  Phase-in  -S1-13  Training and skills development  Phase-in  -S1-14  Health and safety metrics  Sustainability  111  Health &amp; safety  statement  metrics  S1-15  Work-life balance metrics  Phase-in  -S1-16  Compensation metrics (gender pay gap  Sustainability  111  Gender pay gap,  and CEO remuneration ratio)  statement  Remuneration ratio  S1-17  Incidents, complaints, severe human rightsSustainability  112  Human rights  impacts  statement  impacts  ESRS DISCLOSURE INDEX  ESRS S2  Workers in the value chain  Section/report  Page Comment  ESRS 2,  Interests and views of stakeholders  Sustainability  62-63 Engaging with  SBM-2  statement  stakeholders  ESRS 2,  Material IROs and their interaction with  Sustainability  113-  Our approach  SBM-3  strategy and business model  statement  114  Impacts, risks,  and opportunities  S2-1  Policies related to value chain workers  Sustainability  114-  Policies related  statement  115  to value chain  73-76 workers,  Ambu's policies  S2-2  Processes for engaging with value chain  Sustainability  115  Engagement  workers  statement  with value chain  workers  S2-3  Processes to remediate negative impacts,  Sustainability  115  Engagement  and channels for value chain workers to  statement  with value chain  raise concerns  workers  S2-4  Actions related to value chain workers  Sustainability  115  Engagement  statement  with value chain  workers  S2-5  Targets related to value chain workers  Sustainability  115  Engagement  statement  with value chain  workers  ESRS S4  Consumers and end users  Section/report  Page Comment  ESRS 2,  Interests and views of stakeholders  Sustainability  62-63 Engaging with  SBM-2  statement  stakeholders  ESRS 2,  Material IROs and their interaction with  Sustainability  117-  Our approach,  SBM-3  strategy and business model  statement  118  Impacts, risks,  and opportunities  S4-1  Policies related to consumers and end  Sustainability  73-76 Ambu's policies  users  statement  S4-2  Engagement with consumers and end  Sustainability  119  Customer-centric  users  statement  engagement  S4-3  Channels for raising concerns and engage-Sustainability  120  Grievance mech-  ment for consumers and end users  statement  anisms  S4-4  Actions related to consumers and end  Sustainability  121  Our actions  users  statement  S4-5  Targets related to consumers and end  Sustainability  120  Addressing con-  users  statement  sumer needs  ESRS G1  Business Conduct  Section/report  Page Comment  ESRS 2,  The role of administrative, supervisory, andManagement review  44-46; Corporate  GOV-1  management bodies  48-51 governance  ESRS 2  Processes to identify and assess material  Sustainability  123  Our approach  IRO-1  IROs  statement  Impacts, risks,  and opportunities  G1-1  Corporate culture and business conduct  Sustainability  124  Business conduct  policies  statement  73-76 and ethics  G1-2  Management of relationships with suppli-  Sustainability  125  Managing  ers  statement  supplier risk  and due diligence  G1-3  Prevention and detection of corruption andSustainability  126  Anti-corruption  bribery  statement  and bribery  G1-4  Confirmed incidents of corruption and  Sustainability  126  Anti-corruption  bribery  statement  and bribery  G1-5  Political influence and lobbying activities  NA  -G1-6  Payment practices  Sustainability  126  Payment  statement  practices  Datapoints that derive from other EU legislation  The table below includes all of the datapoints that derive from other EU legislation as listed in ESRS 2 appendix B,  indicating where the standard-specific and Ambu material information can be found.  Benchmark  SFDR  Pillar 3  regulation EUClimate Law  Datapoints that derive from other EU legislation  reference  reference  reference  reference  Page number  ESRS 2  General disclosures  21 (d)  Board's gender diversity  ••45  21 (e)  Percentage of board members who are independent  •45  30  Statement on due diligence  •61  40 (d) i  Involvement in activities related to fossil fuel activities  •••Not relevant  40 (d) ii  Involvement in activities related to chemical production  ••Not relevant  40 (d) iii  Involvement in activities related to controversial weapons  ••Not relevant  40 (d) iv  Involvement in activities related to cultivation and production of tobacco  •Not relevant  ESRS E1  Climate change  14  Transition plan to reach climate neutrality by 2050  •80  16 (g)  Undertakings excluded from Paris-aligned benchmarks  ••Not relevant  34  GHG emission reduction targets  •••84  38  Energy consumption from fossil sources disaggregated by sources  •85  (only high climate impact sectors)  37  Energy consumption and mix  •85  40-43  Energy intensity associated with activities in high climate impact sectors  •88  44  Gross Scope 1, 2, 3 and total GHG emissions  •••88  53-55  Gross GHG emissions intensity  •••N/A  56  GHG removals and carbon credits  •79  66  Exposure of the benchmark portfolio to climate-related physical risks  •Phase-in  66 (a); 66 (c)  Disaggregation of monetary amounts by acute and chronic physical risk;  •Phase-in  Location of significant assets at material physical risk  67 (c)  Breakdown of the carrying value of its real estate assets by energy-efficiency classes  •Phase-in  69  Degree of exposure of the portfolio to climate-related opportunities  •Phase-in  Datapoints that derive from other EU legislation  Benchmark  SFDR  Pillar 3  regulation EUClimate Law  Datapoints that derive from other EU legislation  reference  reference  reference  reference  Page number  ESRS E5  Resource use and circular economy  37 (d)  Non-recycled waste  •101  39  Hazardous waste and radioactive waste  •101  ESRS S1  Own workforce  14 (f)  Risk of incidents of forced labor  •Not material  14 (g)  Risk of incidents of child labor  •Not material  20  Human rights policy commitment  •104  21  Due diligence policies on issues addressed by the fundamental  •104  International Labor Organisation Conventions 1 to 8  22  Processes and measures for preventing trafficking in human beings  •104, 115  23  Workplace accident prevention policy or management system  •111  32 (c)  Grievance/complaints handling mechanisms  •47  88 (b) and (c)  Number of fatalities, and number and rate of work-related accidents  ••111  88 (e)  Number of days lost to injuries, accidents, fatalities, or illness  •111  97 (a)  Unadjusted gender pay gap  ••111  97 (b)  Excessive CEO pay ratio  •111  103 (a)  Incidents of discrimination  •112  104 (a)  Non-respect of UNGPs on Business and Human Rights and OECD guidelines  ••114, 118  36  Human rights issues and incidents connected to its upstream and downstream value chain  •103, 113  Datapoints that derive from other EU legislation  Benchmark  SFDR  Pillar 3  regulation EUClimate Law  Datapoints that derive from other EU legislation  reference  reference  reference  reference  Page number  ESRS S2  Workers in the value chain  11 (b)  Significant risk of child labor or forced labor in the value chain  ••114  17  Human rights policy commitments  •114  18  Policies related to value chain workers  •114  19  Non-respect of UNGPs on Business and Human Rights and OECD guidelines  •114  19  Due diligence policies on issues addressed by the fundamental  ••114  International Labor Organisation Conventions 1 to 8  36  Human rights issues and incidents connected to its upstream and downstream value chain  •113  ESRS S4  Consumers and end users  16  Policies related to consumers and end users paragraph 16  •73-76  17  Non-respect of UNGPs on Business and Human Rights and OECD guidelines paragraph  ••118  35  Human rights issues and incidents paragraph  •118  ESRS G1  Governance  10 (b)  United Nations Convention against Corruption  •73  10 (d)  Protection of whistleblowers  •74  24 (a)  Fines for violation of anti-corruption and anti-bribery laws  ••126  24 (b)  Anti-corruption and anti-bribery standard  •126  </mrv:SustainabilityReport>
   <sob:StatementByExecutiveAndSupervisoryBoards contextRef="ctx1" id="fact1004" xml:lang="en">MANAGEMENT STATEMENT   The Board of Directors and the Executive Management have today considered and approved the annual   report of Ambu A/S for the financial year from 1 October 2024 to 30 September 2025.   The annual report has been prepared in accordance with the IFRS Accounting Standards as adopted by   the EU and additional requirements of the Danish Financial Statements Act. In our opinion, the consol-   idated financial statements and the parent financial statements give a true and fair view of the Group’s   and the company’s assets, equity and liabilities and financial position at 30 September 2025, and of the   results of the Group’s and the company’s operations and cash flows for the financial year from 1 October   2024 to 30 September 2025.   The sustainability statement is prepared in accordance with the European Sustainability Reporting Stan-   dards ESRS as required by the Danish Financial Statement Act section 99a as well as article 8 in the EU   Taxonomy regulation.   In our opinion, the Management’s review gives a fair account of the development and performance of the   Group and the company, the results for the year and the Group’s and the company’s financial position,   together with a description of the principal risks and uncertainties faced by the Group and the company.   The Consolidated ESG data have been prepared in accordance with the stated accounting policies. In   our opinion, it gives a fair view of the Group’s environmental, social, and governance performance. In   our opinion, the annual report of Ambu A/S, for the financial year 1 October 2024 to 30 September 2025   identified as AMBU-2025-09-30-en.zip, has been prepared, in all material respects, in compliance with   the ESEF Regulation.   The annual report is submitted for adoption by the annual general meeting.  </sob:StatementByExecutiveAndSupervisoryBoards>
   <arr:SignatureOfAuditorsPlace contextRef="ctx1" id="fact1025" xml:lang="en">Copenhagen</arr:SignatureOfAuditorsPlace>
   <arr:SignatureOfAuditorsDate contextRef="ctx1" id="fact1026">2025-11-05</arr:SignatureOfAuditorsDate>
   <arr:IndependentAuditorsReportsAudit contextRef="ctx1" id="fact1028" xml:lang="en">INDEPENDENT AUDITOR'S REPORT  </arr:IndependentAuditorsReportsAudit>
   <arr:AddresseeOfAuditorsReportOnAuditedFinancialStatements contextRef="ctx1" id="fact1029" xml:lang="en">To the shareholders of Ambu A/S  </arr:AddresseeOfAuditorsReportOnAuditedFinancialStatements>
   <arr:AuditorsReportOnFinancialStatements contextRef="ctx1" id="fact1030" xml:lang="en">Report on the audit of the Consolidated Financial   Statements and Parent Company Financial Statements  </arr:AuditorsReportOnFinancialStatements>
   <arr:OpinionOnAuditedFinancialStatements contextRef="ctx1" id="fact1032" xml:lang="en">Opinion   We have audited the consolidated financial statements and the parent   company financial statements of Ambu A/S for the financial year 1 Octo-   ber 2024 – 30 September 2025, pages 134-187, which comprise income  statement, statement of comprehensive income, cash flow statement,   balance sheet, equity statement and notes, including material account-   ing policy information, for the Group and the Parent Company. The   consolidated financial statements and the parent company financial   statements are prepared in accordance with IFRS Accounting Standards   as adopted by the EU and additional requirements of the Danish Finan-   cial Statements Act.   In our opinion, the consolidated financial statements and the parent   company financial statements give a true and fair view of the financial   position of the Group and the Parent Company at 30 September 2025   and of the results of the Group's and the Parent Company's operations   and cash flows for the financial year 1 October 2024 – 30 September   2025 in accordance with IFRS Accounting Standards as adopted by the   EU and additional requirements of the Danish Financial Statements Act.   Our opinion is consistent with our long-form audit report to the Audit   Committee and the Board of Directors.  </arr:OpinionOnAuditedFinancialStatements>
   <arr:KeyAuditMattersAudit contextRef="ctx1" id="fact1078" xml:lang="en">Key audit matters   Key audit matters are those matters that, in our professional judgment,   were of most significance in our audit of the financial statements for   the financial year 2024/25. These matters were addressed during our   audit of the financial statements as a whole and in forming our opinion   thereon. We do not provide a separate opinion on these matters. For   each matter below, our description of how our audit addressed the mat-   ter is provided in that context.   We have fulfilled our responsibilities described in the "Auditor's respon-   sibilities for the audit of the financial statements" section, including in   relation to the key audit matters below. Accordingly, our audit included   the design and performance of procedures to respond to our assess-   ment of the risks of material misstatement of the financial statements.   The results of our audit procedures, including the procedures per-   formed to address the matters below, provide the basis for our audit   opinion on the financial statements.   Recognition of revenue in the U.S. due to price adjustment structure   In the U.S. market, a significant portion of Ambu’s sales flow through   dealers (third-party warehouses) who sell the products to public and   private hospitals and clinics (the end-customers). Ambu’s sales price to   the dealer depends on the pricing arrangement Ambu has agreed with   the end-customer.   As Ambu’s sales to end-customers deviate in amounts and timing from   the amounts invoiced to the dealer, Ambu subsequently adjusts the   price stated in the preliminary invoice. Price adjustments are recog-   nized on an ongoing basis, and price adjustments which have not been   settled at the balance sheet date are recognized as a reduction in trade   receivables in the balance sheet.   We focus on this area, as the assessment of non-settled price adjust-   ments to dealers is complex and includes management estimates and   judgments.   Reference is made to note 2.2 in the consolidated financial statements.   How our audit addressed the key audit matter   We have identified, tested and assessed key internal controls and   related systems which are used to process and calculate price adjust-   ments for dealers.   We assessed and reviewed management’s calculation of price adjust-   ments by comparing the assumptions applied with the group’s trading   policies, the terms of existing contracts, third-party reported data and   historical price adjustment levels.   Further, we assessed the most significant parameters included in the   calculation of the non-settled price adjustments as per 30 September   2025 based on historical data, accounting records, external inventory   statements and the terms of existing contracts.   Valuation of acquired GI technologies   The carrying value of acquired GI technologies and subsequently capi-   talized development costs amount to DKK 538 million on 30 September   2025.   The value of acquired GI technologies was initially determined in   connection with the purchase price allocation from the acquisition of   Invendo Medical GmbH in October 2017. Subsequently, additional inter-  nally generated development costs associated to the acquired GI tech-   nologies have been capitalized. In case of indications of impairment,   an impairment test is prepared, based on Management’s estimates of   the recoverable amount based on an assessment of net present value   of future cash flows on the basis of strategic revenue plans, long-term   growth, royalty rate and discount rate, etc.   Due to the inherent uncertainty involved in determining the recoverable   amount, we considered these impairment tests to be a key audit matter.   Reference is made to note 3.2 in the consolidated financial statements.   How our audit addressed the key audit matter   Our audit procedures included testing the mathematical accuracy of the   impairment models applied by Management to calculate the recover-   able amount of investments in acquired GI technologies and comparing   forecasted profitability to internally approved budgets and long-term   strategy.   We evaluated the assumptions and methodologies used in the impair-   ment models, particularly the assumptions relating to the forecasted   revenue growth, including comparing with historical growth rates and   the royalty rate and discount rate.   Further, we evaluated the sensitivity analysis on the assumptions   applied in the impairment models prepared by Management.  </arr:KeyAuditMattersAudit>
   <arr:DescriptionOfQualificationsOfAuditedFinancialStatements contextRef="ctx1" id="fact1054" xml:lang="en">Basis for opinion   We conducted our audit in accordance with International Standards on   Auditing (ISAs) and additional requirements applicable in Denmark. Our   responsibilities under those standards and requirements are further   described in the "Auditor's responsibilities for the audit of the consol-   idated financial statements and the parent company financial state-   ments" (hereinafter collectively referred to as "the financial statements")   section of our report. We believe that the audit evidence we have   obtained is sufficient and appropriate to provide a basis for our opinion.   Independence   We are independent of the Group in accordance with the International   Ethics Standards Board for Accountants' International Code of Ethics   for Professional Accountants (IESBA Code) and the additional ethical   requirements applicable in Denmark, and we have fulfilled our other   ethical responsibilities in accordance with these requirements and the   IESBA Code.   To the best of our knowledge, we have not provided any prohibited   non-audit services as described in article 5(1) of Regulation (EU) no.   537/2014.   Appointment of auditor   We were initially appointed as auditor of Ambu A/S on 13 December   2017 for the financial year 2017/18. We have been reappointed annually   by resolution of the general meeting for a total consecutive period of   eight years up until the financial year 2024/25.  </arr:DescriptionOfQualificationsOfAuditedFinancialStatements>
   <arr:StatementOnManagementsReviewAuditorsReportOnAuditedFinancialStatements contextRef="ctx1" id="fact1154" xml:lang="en">Statement on the Management’s review   Management is responsible for the Management's review.   Our opinion on the financial statements does not cover the Man-   agement's review, and we do not express any assurance conclusion   thereon.   In connection with our audit of the financial statements, our respon-   sibility is to read the Management's review and, in doing so, consider   whether the Management's review is materially inconsistent with the   financial statements, or our knowledge obtained during the audit, or   otherwise appears to be materially misstated.   Moreover, it is our responsibility to consider whether the Management's   review provides the information required by relevant law and regula-   tions. This does not include the requirements in paragraph 99a related   to the sustainability statement covered by the separate auditor’s limited   assurance report hereon.   Based on our procedures, we conclude that the Management's review   is in accordance with the financial statements and has been prepared in   accordance with the requirements of relevant law and regulations. We   did not identify any material misstatement of the Management's review.  </arr:StatementOnManagementsReviewAuditorsReportOnAuditedFinancialStatements>
   <arr:StatementOfAuditorsResponsibilityForAuditAndAuditPerformed contextRef="ctx1" id="fact1188" xml:lang="en">Auditor’s responsibilities for the audit of the financial statements   Our objectives are to obtain reasonable assurance as to whether the   financial statements as a whole are free from material misstatement,   whether due to fraud or error, and to issue an auditor's report that   includes our opinion. Reasonable assurance is a high level of assurance,   but is not a guarantee that an audit conducted in accordance with ISAs   and additional requirements applicable in Denmark will always detect   a material misstatement when it exists. Misstatements can arise from   fraud or error and are considered material if, individually or in the aggre-   gate, they could reasonably be expected to influence the economic   decisions of users taken on the basis of the financial statements.   As part of an audit conducted in accordance with ISAs and additional   requirements applicable in Denmark, we exercise professional judge-   ment and maintain professional scepticism throughout the audit.   We also:   − Identify and assess the risks of material misstatement of the financial   statements, whether due to fraud or error, design and perform audit   procedures responsive to those risks and obtain audit evidence that is   sufficient and appropriate to provide a basis for our opinion. The risk   of not detecting a material misstatement resulting from fraud is higher   than for one resulting from error, as fraud may involve collusion,   forgery, intentional omissions, misrepresentations or the override of   internal control.   − Obtain an understanding of internal control relevant to the audit in   order to design audit procedures that are appropriate in the circum-   stances, but not for the purpose of expressing an opinion on the   effectiveness of the Group's and the Parent Company's internal con-   trol.   − Evaluate the appropriateness of accounting policies used and the rea-   sonableness of accounting estimates and related disclosures made   by Management.   − Conclude on the appropriateness of Management's use of the going   concern basis of accounting in preparing the financial statements and,   based on the audit evidence obtained, whether a material uncertainty   exists related to events or conditions that may cast significant doubt   on the Group's and the Parent Company's ability to continue as a   going concern. If we conclude that a material uncertainty exists, we are   required to draw attention in our auditor's report to the related disclo-   sures in the financial statements or, if such disclosures are inadequate,   to modify our opinion. Our conclusions are based on the audit evi-   dence obtained up to the date of our auditor's report. However, future   events or conditions may cause the Group and the Parent Company to   cease to continue as a going concern.   − Evaluate the overall presentation, structure and contents of the finan-   cial statements, including the note disclosures, and whether the finan-   cial statements represent the underlying transactions and events in a   manner that gives a true and fair view.   − Plan and perform the group audit to obtain sufficient appropriate audit   evidence regarding the financial information of the entities or busi-   ness activities within the Group as a basis for forming an opinion on   the group financial statements. We are responsible for the direction,   supervision and review of the audit work performed for purposes of the   group audit. We remain solely responsible for our audit opinion.   We communicate with those charged with governance regarding, among   other matters, the planned scope and timing of the audit and significant   audit findings, including any significant deficiencies in internal control   that we identify during our audit.   We also provide those charged with governance with a statement that   we have complied with relevant ethical requirements regarding inde-   pendence, and to communicate with them all relationships and other   matters that may reasonably be thought to bear on our independence,   and where applicable, actions taken to eliminate threats or safeguards   applied.   From the matters communicated with those charged with governance,   we determine those matters that were of most significance in the audit of   the consolidated financial statements and the parent company financial   statements of the current period and are therefore the key audit matters.   We describe these matters in our auditor's report unless law or regula-   tion precludes public disclosure about the matter.  </arr:StatementOfAuditorsResponsibilityForAuditAndAuditPerformed>
   <arr:StatementOfExecutiveAndSupervisoryBoardsResponsibilityForFinancialStatements contextRef="ctx1" id="fact1173" xml:lang="en">Management’s responsibilities for the financial statements   Management is responsible for the preparation of consolidated financial   statements and parent company financial statements that give a true   and fair view in accordance with IFRS Accounting Standards as adopted   by the EU and additional requirements of the Danish Financial State-   ments Act, and for such internal control as Management determines is   necessary to enable the preparation of financial statements that are free   from material misstatement, whether due to fraud or error.   In preparing the financial statements, Management is responsible for   assessing the Group's and the Parent Company's ability to continue as a   going concern, disclosing, as applicable, matters related to going con-   cern and using the going concern basis of accounting in preparing the   financial statements unless Management either intends to liquidate the   Group or the Parent Company or to cease operations, or has no realistic   alternative but to do so.  </arr:StatementOfExecutiveAndSupervisoryBoardsResponsibilityForFinancialStatements>
   <arr:AuditorsReportOnXbrlTagging contextRef="ctx1" id="fact1257" xml:lang="en">Report on compliance with the ESEF regulation   As part of our audit of the Consolidated Financial Statements and Parent   Company Financial Statements of Ambu A/S, we performed procedures   to express an opinion on whether the annual report of Ambu A/S for the   financial year 1 October 2024 – 30 September 2025 with the file name   AMBU-2025-09-30-en.zip is prepared, in all material respects, in compli-   ance with the Commission Delegated Regulation (EU) 2019/815 on the   European Single Electronic Format (ESEF Regulation) which includes   requirements related to the preparation of the annual report in XHTML   format and iXBRL tagging of the Consolidated Financial Statements   including notes.   Management is responsible for preparing an annual report that com-   plies with the ESEF Regulation. This responsibility includes:   − The preparing of the annual report in XHTML format;   − The selection and application of appropriate iXBRL tags, including   extensions to the ESEF taxonomy and the anchoring thereof to ele-   ments in the taxonomy, for all financial information required to be   tagged using judgment where necessary;   − Ensuring consistency between iXBRL tagged data and the Consoli-   dated Financial Statements presented in human readable format; and   − For such internal control as Management determines necessary to   enable the preparation of an annual report that is compliant with the   ESEF Regulation.   Our responsibility is to obtain reasonable assurance on whether the   annual report is prepared, in all material respects, in compliance with   the ESEF Regulation based on the evidence we have obtained, and to   issue a report that includes our opinion. The nature, timing and extent of   procedures selected depend on the auditor’s judgement, including the   assessment of the risks of material departures from the requirements   set out in the ESEF Regulation, whether due to fraud or error.   The procedures include:   − Testing whether the annual report is prepared in XHTML format;   − Obtaining an understanding of the company’s iXBRL tagging process   and of internal control over the tagging process;   − Evaluating the completeness of the iXBRL tagging of the Consolidated   Financial Statements including notes;   − Evaluating the appropriateness of the company’s use of iXBRL ele-   ments selected from the ESEF taxonomy and the creation of extension   elements where no suitable element in the ESEF taxonomy has been   identified;   − Evaluating the use of anchoring of extension elements to elements in   the ESEF taxonomy; and   − Reconciling the iXBRL tagged data with the audited Consolidated   Financial Statements.   In our opinion, the annual report of Ambu A/S for the financial year 1   October 2024 – 30 September 2025 with the file name AMBU-2025-09-   30-en.zip is prepared, in all material respects, in compliance with the   ESEF Regulation.  </arr:AuditorsReportOnXbrlTagging>
   <arr:SignatureOfAuditorsDate contextRef="ctx1" id="fact1027">2025-11-05</arr:SignatureOfAuditorsDate>
   <cmn:NameOfAuditFirm contextRef="ctx30" id="fact1559" xml:lang="en">EY Godkendt Revisionspartnerselskab</cmn:NameOfAuditFirm>
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   <cmn:IdentificationNumberCvrOfAuditFirm contextRef="ctx30" id="fact1558">30700228</cmn:IdentificationNumberCvrOfAuditFirm>
   <cmn:IdentificationNumberCvrOfAuditFirm contextRef="ctx29" id="fact1549">30700228</cmn:IdentificationNumberCvrOfAuditFirm>
   <cmn:NameAndSurnameOfAuditor contextRef="ctx29" id="fact1550" xml:lang="en">Mikkel Sthyr</cmn:NameAndSurnameOfAuditor>
   <cmn:NameAndSurnameOfAuditor contextRef="ctx30" id="fact1554" xml:lang="en">Morten Weinreich Larsen</cmn:NameAndSurnameOfAuditor>
   <cmn:DescriptionOfAuditor contextRef="ctx29" id="fact1551" xml:lang="en">State Authorised Public Accountant</cmn:DescriptionOfAuditor>
   <cmn:DescriptionOfAuditor contextRef="ctx30" id="fact1555" xml:lang="en">State Authorised Public Accountant</cmn:DescriptionOfAuditor>
   <cmn:IdentificationNumberOfAuditor contextRef="ctx29" id="fact1553" xml:lang="en">mne26693</cmn:IdentificationNumberOfAuditor>
   <cmn:IdentificationNumberOfAuditor contextRef="ctx30" id="fact1557" xml:lang="en">mne42791</cmn:IdentificationNumberOfAuditor>
   <arr:AuditorsReportOnSubstainabilityReport contextRef="ctx1" id="fact1306" xml:lang="en">INDEPENDENT AUDITOR'S LIMITED ASSURANCE   REPORT ON SUSTAINABILITY STATEMENT   To the shareholders of Ambu A/S   Limited assurance conclusion   We have conducted a limited assurance engagement on the sustain-   ability statement of Ambu A/S (the group) included in the Annual Report   2024/25, pages 57-133 (the sustainability statement), for the financial  year 1 October 2024 – 30 September 2025 including disclosures incor-   porated by reference listed on pages 128-130.  Based on the procedures we have performed and the evidence we have   obtained, nothing has come to our attention that causes us to believe   that the sustainability statement is not prepared, in all material respects,   in accordance with the Danish Financial Statements Act section 99a,   including:   • compliance with the European Sustainability Reporting Standards   (ESRS), including that the process carried out by the management to   identify the information reported in the sustainability statement (the   process) is in accordance with the description set out in “The double   materiality assessment” on pages 64-66; and  • compliance of the disclosures in the section EU Taxonomy within the   environmental section on pages 91-95 of the sustainability statement  with Article 8 of EU Regulation 2020/852 (the Taxonomy Regulation).   Basis for conclusion   We conducted our limited assurance engagement in accordance   with International Standard on Assurance Engagements (ISAE) 3000   (Revised), Assurance engagements other than audits or reviews of his-  torical financial information (ISAE 3000 (Revised)) and the additional  requirements applicable in Denmark.   The procedures in a limited assurance engagement vary in nature and   timing from, and are less in extent than for, a reasonable assurance   engagement. Consequently, the level of assurance obtained in a limited   assurance engagement is substantially lower than the assurance that   would have been obtained had a reasonable assurance engagement   been performed.   We believe that the evidence we have obtained is sufficient and appro-   priate to provide a basis for our conclusion. Our responsibilities under   this standard are further described in the Auditor's responsibilities for  the assurance engagement section of our report.  Our independence and quality management   We are independent of the group in accordance with the International   Ethics Standards Board for Accountants' International Code of Ethics   for Professional Accountants (IESBA Code) and the additional ethical   requirements applicable in Denmark. We have also fulfilled our other   ethical responsibilities in accordance with these requirements and the   IESBA Code.   EY Godkendt Revisionspartnerselskab applies International Standard   on Quality Management 1, which requires the firm to design, implement   and operate a system of quality management including policies or pro-   cedures regarding compliance with ethical requirements, professional   standards and applicable legal and regulatory requirements.   Inherent limitations in preparing the sustainability statement   In reporting forward-looking information in accordance with ESRS,   management is required to prepare the forward-looking information on   the basis of disclosed assumptions 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.   Management's responsibilities for the sustainability statement   Management is responsible for designing and implementing a process   to identify the information reported in the sustainability statement in   accordance with the ESRS and for disclosing this process in the section   The double materiality assessment on pages 64-66 of the sustainability  statement. This responsibility includes:   • understanding the context in which the group's activities and busi-   ness relationships take place and developing an understanding of its   affected stakeholders;   • the identification of the actual and potential impacts (both negative   and positive) related to sustainability matters, as well as risks and   opportunities that affect, or could reasonably be expected to affect,   the group's financial position, financial performance, cash flows,   access to finance or cost of capital over the short-, medium-, or long-   term;   • the assessment of the materiality of the identified impacts, risks and   opportunities related to sustainability matters by selecting and apply-   ing appropriate thresholds; and   • making assumptions that are reasonable in the circumstances.   Management is further responsible for the preparation of the sustain-   ability statement, in accordance with the Danish Financial Statements   Act section 99a, including:   • compliance with the ESRS;   the disclosures in the section EU Taxonomy within the envi-   ronmental section om pages 91-95 of the sustainability statement, in  compliance with Article 8 of the Taxonomy Regulation;   • designing, implementing and maintaining such internal control that   management determines is necessary to enable the preparation of   the sustainability statement that is free from material misstatement,   whether due to fraud or error; and   • the selection and application of appropriate sustainability reporting   methods and making assumptions and estimates that are reasonable   in the circumstances.   Auditor's responsibilities for the assurance engagement   Our objectives are to plan and perform the assurance engagement to   obtain limited assurance about whether the sustainability statement   is free from material misstatement, whether due to fraud or error, and   to issue a limited assurance report that includes our conclusion. Mis-   statements can arise from fraud or error and are considered material   if, individually or in the aggregate, they could reasonably be expected   to influence decisions of users taken on the basis of the sustainability   statement as a whole.   As part of a limited assurance engagement in accordance with ISAE   3000 (Revised) we exercise professional judgement and maintain pro-   fessional scepticism throughout the engagement.   Our responsibilities in respect of the process include:   • Obtaining an understanding of the process but not for the purpose of   providing a conclusion on the effectiveness of the process, including   the outcome of the process;   • Considering whether the information identified addresses the appli-   cable disclosure requirements of the ESRS, and   • Designing and performing procedures to evaluate whether the   process is consistent with the group's description of its process, as   disclosed in the section The double materiality assessment on pages  64-66.  Our other responsibilities in respect of the sustainability statement   include:   • Identifying disclosures where material misstatements are likely to   arise, whether due to fraud or error; and   • Designing and performing procedures responsive to disclosures in   the sustainability statement where material misstatements are likely   to arise. The risk of not detecting a material misstatement resulting   from fraud is higher than for one resulting from error, as fraud may   involve collusion, forgery, intentional omissions, misrepresentations,   or the override of internal control.   Summary of the work performed   A limited assurance engagement involves performing procedures to   obtain evidence about the sustainability statement.   The nature, timing and extent of procedures selected depend on pro-   fessional judgement, including the identification of disclosures where   material misstatements are likely to arise, whether due to fraud or error,   in the sustainability statement.   In conducting our limited assurance engagement, with respect to the   process, we:   • Obtained an understanding of the process by performing inquiries to   understand the sources of the information used by management; and   reviewing the group's internal documentation of its process; and   • Evaluated whether the evidence obtained from our procedures about   the Process implemented by the group was consistent with the   description of the process set out in the section “The double material-   ity assessment” on pages 64-66.  In conducting our limited assurance engagement, with respect to the   sustainability statement, we:   • Obtained an understanding of the group's reporting processes rel-   evant to the preparation of its sustainability statement by obtaining   an understanding of the group's control environment, processes and   information systems relevant to the preparation of the Sustainability   Statement but not evaluating the design of particular control activi-   ties, obtaining evidence about their implementation or testing their   operating effectiveness;   • Evaluated whether material information identified by the process is   included in the sustainability statement;   • Evaluated whether the structure and the presentation of the sustain-   ability statement are in accordance with the ESRS;   • Performed inquiries of relevant personnel and analytical procedures   on selected information in the sustainability statement;   • Performed substantive assurance procedures on selected informa-   tion in the sustainability statement;   • Evaluated methods, assumptions and data for developing material   estimates and forward-looking information and how these methods   were applied;   • Obtained an understanding of the process to identify the EU taxon-   omy economic activities for turnover, CAPEX and OPEX and the cor-   responding disclosures in the sustainability statement;   • Evaluated the presentation and use of EU taxonomy templates in   accordance with relevant requirements;   • Reconciled and ensured consistency between the reported EU taxon-   omy economic activities and the items reported in the primary finan-   cial statements including the disclosures provided in related notes.  </arr:AuditorsReportOnSubstainabilityReport>
   <arr:SignatureOfSubstainabilityAuditorsPlace contextRef="ctx1" id="fact1517" xml:lang="en">Copenhagen</arr:SignatureOfSubstainabilityAuditorsPlace>
   <arr:SignatureOfSubstainabilityAuditorsDate contextRef="ctx1" id="fact1518">2025-11-05</arr:SignatureOfSubstainabilityAuditorsDate>
   <cmn:NameOfAuditFirmSubstainability contextRef="ctx26" id="fact1538" xml:lang="en">EY Godkendt Revisionspartnerselskab</cmn:NameOfAuditFirmSubstainability>
   <cmn:IdentificationNumberCvrOfAuditFirmSubstainability contextRef="ctx26" id="fact1539">30700228</cmn:IdentificationNumberCvrOfAuditFirmSubstainability>
   <cmn:NameAndSurnameOfSubstainabilityAuditor contextRef="ctx26" id="fact1540" xml:lang="en">Mikkel Styhr</cmn:NameAndSurnameOfSubstainabilityAuditor>
   <cmn:NameAndSurnameOfSubstainabilityAuditor contextRef="ctx27" id="fact1544" xml:lang="en">Lars Fermann</cmn:NameAndSurnameOfSubstainabilityAuditor>
   <cmn:DescriptionOfSubstainabilityAuditor contextRef="ctx26" id="fact1541" xml:lang="en">State Authorised Public Accountant</cmn:DescriptionOfSubstainabilityAuditor>
   <cmn:DescriptionOfSubstainabilityAuditor contextRef="ctx27" id="fact1545" xml:lang="en">State Authorised Public Accountant</cmn:DescriptionOfSubstainabilityAuditor>
   <cmn:fIdentificationNumberOfSubstainabilityAuditor contextRef="ctx26" id="fact1543" xml:lang="en">mne26693</cmn:fIdentificationNumberOfSubstainabilityAuditor>
   <cmn:fIdentificationNumberOfSubstainabilityAuditor contextRef="ctx27" id="fact1547" xml:lang="en">mne45879</cmn:fIdentificationNumberOfSubstainabilityAuditor>
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