Assets

Type	Time	Amount	Unit
ifrs-full:Assets	2025-12-31	22088000000	dkk
ifrs-full:Assets	2024-12-31	26935000000	dkk

Revenue

Type	Start date	End date	Amount	Unit
ifrs-full:Revenue	2025-01-01	2025-12-31	14612000000	dkk
ifrs-full:Revenue	2024-01-01	2024-12-31	15740000000	dkk

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   <mrv:SustainabilityReport contextRef="ctx-1" id="f1__s9__7__27-1" xml:lang="en">Sustainability statementUnderstanding sustainability  and CSRD-aligned reportingSustainability is about meeting today’s needs without compromising the future. It considers environmental, social and governance (ESG) factors to ensure businesses operate responsibly and create long-term value.FLSmidth is reporting under the Corporate Sustainability Reporting Directive (CSRD), the regulation from the European Green Deal, aimed at supporting the European market tran-sitions to a carbon neutral economy. Through this reporting, we address our actual and potential impacts on people and the planet, as well as how sustainability related factors could impact our business, both now, and in the future. To align with these requirements, we perform a robust double materiality assessment, to identify key areas essential for our focus and reporting. Our approach ensures that we consider all ESG topics and we build on previous materiality assessments and existing methodologies. We also focus on the quality of our ESG data, as we know this is the essential foundation to build our actions upon and monitor our progress. The following sustainability statement is designed to give clear and transparent insight into how we work with sustainability. We aim to provide direct linkages from our identified areas of materiality to the policies, actions, targets and key performance indicators we have in place to drive progress. 2025 marked our second year of reporting in accordance with the CSRD reporting requirements, which are underpinned by the European Sustainability Reporting Standards (ESRS). Following the adoption of the Omnibus package, we will continue to develop our reporting and align it with the updated standards once they come into force.Additionally, the Sustainability Statements contain forward-looking information on the basis of disclosed assumptions about events that may occur in the future and possible future actions by FLSmidth. Actual outcomes are likely to be different since anticipated events frequently do not occur as expected.This report also provides a comprehensive overview of our actions and performance in relation to the Ten Principles of the UN Global Compact and the Sustainable Development Goals (SDGs).How to read our impacts, risks and opportunitiesFor each sustainability topic, we use a chart and illustration to show how the identified Impacts, Risks and Opportunities (IROs) relate to our business. The chart indicates whether we are disclosing a negative impact, positive impact, opportunity or risk. It shows whether the IRO is actual or potential, where in the value chain it applies, and the applicable time horizon. For simplicity, the time horizon shown (short, medium, or long-term) reflects when the event is first expected to occur, but the event may continue into other time horizons as well.General disclosuresThis sustainability statement aims to provide transparent, relevant and reliable insights into how sustainability is embedded at FLSmidth. Guided by strong governance, we integrate sustainability principles into our strategic decisions, daily operations and culture. With clearly defined roles, responsibilities and accountability mechanisms, we ensure effective monitoring, management and continuous improvement of our sustainability performance.Sustainability at FLSmidthFLSmidth is a pure play supplier of technologies and services to the mining industry. In 2025, we completed the divestment of the cement busi-ness, marking a strategic shift that now positions mining as our core focus. This transition enables us to concentrate our sustainability initiatives and innovation efforts exclusively on advancing responsible mining practices and supporting the industry's transformation. We serve customers in approximately 125 coun-tries and with a local presence in approximately 40 countries and with 5,494 employees worldwide. See our key geographies breakdown on page 95. Global economic development and the energy transition are driving increased demand for minerals. This industry is integral to meet the needs of a growing middle class, which requires a substantial supply of minerals such as copper, lithium, nickel and cobalt. Mining operations impact the environment through COe emis-2sions, water usage, land use and waste gener-ation. Notably, 98% of the emissions across our value chain arise from the use of our products by customers throughout their operational life, presenting us a significant opportunity to drive change. Innovation is essential to achieving trans-formative goals while meeting these demands. Recognising this, our MissionZero programme is at the heart of our ongoing commitment to providing technologies and services that help customers significantly reduce their environmental footprint. There is growing recognition of the societal and environmental challenges associated with devel-oping new greenfield operations. Therefore, we enable customers to maximise the potential of their existing operations by offering services, spare parts, upgrades and retrofits. Our proven technologies empower mining operations to enhance productivity, lower costs, improve safety, and reduce environmental impact of mining oper-ations. We offer comprehensive service packages devoted to process optimisation, maximising uptime and maintaining or improving efficiency; such as lifecycle services, advanced process control solutions, spare parts and field services. See www.fls.com for more detail on our solutions.We have pledged not to pursue any new green-field projects connected to coal. Our approach is to assist our current customers as they transition to cleaner energy and gradually phase out coal, prioritising solutions that use resources most efficiently. In 2025, revenue from coal-related activities was 7% of total revenue. This amounted to approximately DKK 1 bn which is a reduction of DKK0.4bn from 2024. Other fossil fuel sectors 1generated about 1% of overall revenue. Sustainability is integrated into the core of the company’s business processes. This involves ensuring that environmental, social and govern-ance (ESG) considerations are a fundamental element of decision-making processes across all relevant business functions. Supported by clear responsibilities and standardised processes, we are establishing a structured approach allowing us to set realistic targets, take corresponding actions and continuously track our progress. To further advance our sustainability integration, we have developed and implemented our Sustain-ability Blueprint, a strategic tool that guides our sites toward greater sustainability by providing actionable insights, tailored guidance, success stories, and progress tracking, thereby supporting local teams in implementing best practices and achieving site-specific sustainability goals. Our range of digital tools, including performance dashboards, an ESG consolidation software integrated into our financial consolidation system, and live data platforms, help us maintain a struc-tured and data-driven approach to sustainability, enabling us to set ambitious targets, implement effective actions, and track our progress consist-ently across the organisation.This integration of ESG considerations into our operations not only aligns with global sustaina-bility expectations but also drives greater busi-ness value by enhancing operational efficiency, strengthening stakeholder relationships and ensuring long-term resilience. See a description of our business model on pages 17-19.  Double materiality assessmentMethodologyOur double materiality assessment has been developed considering potential and actual impacts, risks and opportunities (IROs) in our own operations and both upstream and downstream in our value chain.Our impact assessment considered both positive and negative impacts on society and the envi-ronment from our own operations and business relationships. Our financial assessment assessed sustainability-related risks and opportunities associated with our business model.Assessing impacts, risks and opportunitiesTo comprehensively identify and evaluate sustain-ability-related IROs, in our first approach in 2024, we engaged a broad range of stakeholders and leveraged diverse sources of information. Our process included workshops and interviews with internal subject matter experts and business leaders, supported by analyses of environmental impact assessments, whistleblower reports, industry networks, employee engagement surveys, and other internal and external docu-mentation. The assessment originated from our strategy and business model and included eval-uating specific activities, business relationships, geographies and dependencies that lead to a heightened risk of adverse impacts. Upstream impacts were assessed in collaboration with procurement colleagues, supply chain and human rights specialists, while environmental impacts related to FLSmidth's operations were evaluated at all sites.Downstream impacts were assessed through direct engagement with a major mining customer and through proxies, particularly where direct engage-ment with affected communities was not feasible. Proxies included input from internal specialists, industry standards and specialised tools.Financial risks and opportunities were identified through consultations with internal stakeholders from departments such as customer relations, finance, legal and HR. These risks are monitored and managed in line with our enterprise risk management (ERM) procedures.We have considered the connections between impacts and dependencies with our risks and opportunities. For example, we identified a connection between the energy transition stimu-lating demand for key commodities and the poten-tial increased negative environmental impact of the associated mining activities. Governance structures underpinning our IRO assessments ensure a thorough evaluation of busi-ness conduct across all locations, transactions and customer engagements in the mining industry.  In 2025 we reviewed and updated the DMA with a simplified approach. We have engaged additional internal stakeholders as part of the process and used additional available quantitative data that was collected during the 2024 reporting cycle. The divestment of the cement business was consid-ered but had no significant impact on our results, as no IROs were identified specifically for cement in the original DMA. We have also incorporated feed-back on the 2024 DMA from financial institutions and lessons learned from 2024 reporting, including peers. We have also used case studies for deter-mining value-chain IROs. Based on the assessment of our material IROs and the 2025 review, we have identified the material topical standards to be reported on. These are depicted in the figure to the left, in which we include main change from 2024 DMA.Key change at standard level has been the impact of Affected Communities, which has moved to be only financially material as a ‘license to operate’ risk. Negative impact downstream in the value chain has been reduced based on re-assessment of FLSmidth's business model and link to value-chain boundaries.Key changes to sub–standards have been pollution to air, which based on collected 2024 data falls out of scope in ‘own operations’ but remains material in our value chain, and substances of concern, which has been descoped from ‘own operations’ based of 2024 data showing low volumes. Instead we will continue to monitor it as a safety topic. See an IRO overview for comparison between 2024 to 2025 reporting on page 120-121.   Time horizonTime horizons for IROs are specified according to the earliest occurrence. Where we have identified a short-term or medium-term horizon, the IRO could potentially continue to a longer time horizon.ImpactsAs per the ESRS guidance, the average of the three parameters of ‘scale’, ‘scope’, and ‘irreme-diable character’ have been used in the scoring Irremediable character: Scale: Scope: How difficult would it be to  How grave is the impact?How widespread is the impact?(remedy or correct) the issue? 5 Absolute 5 Global/total 5 Non-remediable/irreversible4 High 4 Widespread 4 Very difficult to remedy or long-term3 Medium 3 Medium 3 Difficult to remedy or mid-term2 Low 2 Concentrated 2 Remediable with effort (time &amp; cost)1 Minimal 1 Limited 1 Relatively easy to remedy short-term0 None 0 None 0 Very easy to remedyLikelihood Materiality5 Actual (occuring) Severe4 Very likely High3 Likely Significant2 Possible Medium1 Unlikely Low0 Very unlikelyof the ‘severity’ of our impacts. The likelihood of the impact occurring is then evaluated to give the final impact score. In instances of a negative impact on human rights, a scoring of five in either scale, scope or irremediable character results in a material impact scoring.Risks and opportunitiesWhen scoring risks and opportunities, we utilised our ERM methodology (see pages 39-40) to ensure2consistency and relevance to the business. We evaluated the magnitude of the risk or oppor-tunity against seven drivers of value creation or costs: financial, legal/regulatory, reputation, human capital, customers, operational and stra-tegic. When quantification in monetary terms was not possible, largely due to the complexity of defining exact values for potential sustainability risk scenarios, we applied qualitative assess-ments.ThresholdsMateriality thresholds were set at ‘significant’. This means that IROs scored as ‘significant’, ‘high’ and ‘severe’, and their associated ESRS topics, are deemed material.Resilience of our strategyLast year, we conducted an organisation-wide resilience analysis, covering all aspects of the company's operations and strategic planning. We have evaluated the resilience of our strategy and the capacity of our business model to address our material impacts and risks and our ability to take advantage of our material opportunities. We see that our product and service portfolio empowers our customers to reduce their environmental and safety impacts and directly addresses material IROs. With the integration of sustainability into our business processes, we aim to ensure the long-term resilience of our business and its ability to address our actual and potential IROs now and in the future.We recognise that our IROs may change over time due to the dynamic nature of our operational landscape, but expect them to remain relatively consistent year over year.Several factors may influence our IROs, including entering new markets or other emerging sectors. We have not identified any current or future financial effects for which there is significant risk of material adjustment.We are committed to continuously improving our methodology and processes for identifying and evaluating IROs by enhancing data quality and insights from our value chain. This will allow us to quantify our IROs more accurately. Similarly, we will continue to integrate our materiality assess-ment with our overall risk management processes to ensure a holistic approach to identifying and mitigating risks.Stakeholder engagementAt FLSmidth we actively engage with key internal and external stakeholders, recognising their insights and perspectives as essential to advancing our MissionZero programme and sustainability objectives.Stakeholder dialogue is conducted through various channels, including surveys, employee workshops, investor meetings, customer collaborations, supplier assessments, industry partnerships, and community engagement initiatives. Stakeholder interests and views are integrated into our impact, risk and opportunity assessments, informing the strategic decisions of our management and Board of Directors.InvestorsWe engage regularly with current and potential investors to discuss the performance and expectations of our sustainability ambitions and strategies.Audit, Risk and ESG Reporting CommitteeWe report to the committee on progress in key sustainability metrics and activities, including the results of our double materiality assessment. The committee provides feedback and guidance about plans and activities. Current and future employeesIn addition to regular engagement with their direct manager, employees can provide anonymous feedback and input through quarterly surveys, and are expected to attend quarterly townhall meetings with the Execu-tive Leadership Team and business line managers. Peri-odic roundtable discussions between employees and management are also held to gather targeted feedback. We engage with potential future employees by offering summer internships and PhD programs designed to attract and cultivate the next generation of professionals in the mining industry. Through these programmes we gain valu-able insight into what is needed in the industry to ensure a diverse and sustainable talent pipeline for the future.  Local communities/media/NGOsWe listen to the needs and expectations of the local communities in which we operate. Our Social Action Programme supporting employee-led initiatives across health and safety, humanitarian aid, environment, and education, also serves as a channel to engage with and gain insights from local communities.CustomersWe partner with customers to support them in achieving their sustainability ambitions. Through these partnerships, we maintain continuous dialogue to understand their expectations, needs, and emerging concerns, gaining valuable insights that guide our shared progress to support the green transition. Policy makers and indirect decision-makersWe engage regularly with international organisations to provide expertise, share experiences, exchange ideas, gain insights into their expectations, helping to inform policy makers. We are members of, and engage with, industry associations and advocacy groups to promote policy frameworks and regulations that help accelerate the green transition and to gain knowledge about stakeholder groups that we might affect unknowingly or indirectly.Supply chain workers/SuppliersWe engage with suppliers through risk based onsite assessments of key suppliers, including employee dialogues. This enables us to identify and ensure mitigating actions in our supply chain.Industry and sustainability reporting standards and frameworks/ ESG rating agenciesWe work with a continuous improvement approach, identifying relevant reporting areas for our sector and assessing our progress against industry reporting standards and frameworks (TCFD, TNFD, ISSB, SDGs and UNGCP ) and ESG ratings (CDP, Ecovadis, Sustainalytics, MSCI and ISS-Corporate).Impacts, risks and opportunities across our value chainUpstream Own Operations DownstreamESRS E1  Climate change1 COe emissions— → Page 651 COe emissions— → Page 65 1 COe emissions—→ Page 652222   Energy optimisation→ Page 663   MissionZero portfolio &amp; environmental  +  → Page 66stewardshipESRS E2 Pollution4  Air pollution from production— → Page 745  Tailings solution offerings+ → Page 74ESRS E3 Water6  Water withdrawal —  → Page 763   MissionZero portfolio &amp; environmental   +  → Page 76stewardshipESRS E4 Biodiversity7   Depletion of natural resources  — → Page 79and land-use change !→ Page 798  License to operate+→ Page 799  Reducing mining footprintESRS E5 Circularity10  Virgin raw materials—→ Page 8212  Waste generated — → Page 8213  Product design &amp; refurbishment+ → Page 8211  Sourcing of materials !→ Page 8214  Sales of services (spareparts &amp; maintenance) → Page 82ESRS S1  Own workforce15  Working conditions—  +→ Page 9116  Equal treatment+  !→ Page 91!17  Talent attraction &amp; retention→ Page 91—  +18  Health and safety→ Page 91ESRS S2   Workers in the  19   Work-related  rights —   ! → Page 10120  Product safety→ Page 101value chainESRS S3   Affected   8  License to operate! → Page 106communitiesESRS G1  Business conduct21  Relationships with suppliers— → Page 10922  Corruption and bribery—  ! → Page 10923  Lobbying activities→ Page 109Impact, risk and opportunity:  —   Negative  +  Positive Opportunity  !  RiskGeneral disclosuresGovernance and oversight of sustainabilityThe Board of Directors is deeply engaged in our sustainability initiatives, overseeing crit-ical decisions, setting long-term targets and supporting our sustainability ambitions. Their activities include quarterly reviews of sustaina-bility matters, including progress against targets, conducting an annual sustainability review and approving relevant policies. All members of the board are independent and non-executive members.The Audit, Risk and ESG Reporting Committee oversees the effectiveness of the risk control and management systems and assesses the potential impact of material sustainability IROs.The Executive Leadership Team, acting as the Sustainability Board, holds overall accounta-bility for the direction, progress and focus of our sustainability efforts and targets and receives quarterly reports on specific sustainability KPIs. In 2025, the results of the review of the DMA were presented to the Executive Leadership Team and the Audit, Risk and ESG Committee. The Board of Directors received documentation, process descriptions and results of the DMA process for relevant decision-making.The Chief People Officer and Global Business Services, EVP is accountable for the implemen-tation of sustainability strategy, with the Head of ESG being responsible to develop and implement this strategy and report progress to the Executive Leadership Team. The Chief People Officer and Global Business Services, EVP is also responsible for Global Business Services, which supports policy adoption across the organisation. The Group CFO is accountable for the regulatory and data requirements under CSRD reporting. Management and the Board of Directors receive information and training on current and evolving regulatory matters and material sustainability IROs. We ensure relevant expertise by upskilling our own workforce or bringing in experts where needed. See our Corporate Governance section for more information on pages 41-45.Risk management and internal controls over sustainability reportingInternal control systems are in place to identify and manage risks in financial and sustainability reporting, guided by set policies, procedures, and controls. Key risks include reliance on manual processes and maintaining completeness of new data points. Actions being taken include standard-ising tools to reduce manual work and improving data validation through analytical data processes and through the ESG consolidation system. Risks are prioritised according to their level of severity.We have a dedicated ESG data team and separate ESG Finance team that are responsible for opti-mising the record to report process for ESG data and ensure effective risk controls.Integration of sustainability-related performance  in incentive schemes The long-term incentive programme connects the Executive Leadership Teams’ performance to sustainability objectives. For the 2025 programme, 15% of achievement is linked to four sustainability KPIs: scope 1 &amp; 2 emissions, economic intensity, total recordable injury rate (TRIR), and the proportion of women in the work-force. These KPIs are included in the remuneration policy, tying variable compensation to long-term sustainability targets. Each KPI is measured against a three-year average target improvement for 2025-2027 and assigned a 3,75% weighting. The Board of Directors conducts an annual review of the schemes to ensure consistency with the organisation’s sustainability strategy and current practices, aiming to balance sustainability and financial considerations.Statement on due diligencePageEmbedding due diligence in 56, 61, 91, 101, 106governance, strategy and business modelEngaging with affected 57, 59, 74, 76, 79, 82, 91, stakeholders in all key steps 92-93, 103, 109of the due diligenceIdentifying and assessing 57, 65-66, 73-74, 76, adverse impacts79-82, 91, 101, 106, 109 Taking actions to address 67-68, 75, 77, 80, 83-86, those adverse impacts93-100, 103-105,  107, 110-113Tracking the effectiveness 68-69, 75, 77-78, 80, 86, of these efforts and commu-100, 103-105, 107,  113nicatingGeneral basis for preparation of sustainability statement FLSmidth’s sustainability statement has been prepared on the same consolidated basis as the consolidated financial statements with the reporting period running from 1 January to 31 December 2025.During the preparation of the sustainability state-ment, we identified IROs encompassing both our upstream and downstream value chain. General disclosuresIn accordance with our revisited DMA, we have revised several policies this year to ensure align-ment with these findings while ensuring a simpli-fied approach.The report includes data and information related to our own operations and value chain. For key sustainability KPIs related to Scope 1 &amp; 2 (market based) emissions, Scope 3 Economic inten-sity (use of sold products), water withdrawal, percentage of women managers and safety (See sustainability highlights on page 9), 2025 targets disclosed reflect milestones related to our 2030 targets from our 2019 baseline.No information corresponding to intellectual property, know-how or the results of innovation has been omitted from the sustainability state-ment. Neither are we exempted from disclosing any impending developments or matters that are currently in the course of negotiation.The report is prepared in compliance with sections 99a of the Danish Financial Statements Act and EU taxonomy regulation disclosure requirements.The full sustainability statement have received limited assurance. See the auditor's limited assur-ance report on page 196-197.Incorporation by referencePage where the information Disclose requirementcan be foundESRS 2 GOV-1, GOV-2 Pages 41-45Disclosures in relation to specific circumstancesSources of estimation and outcome  uncertainty For climate related metrics, we use the interna-tionally recognised standard, GHG Protocol, as the basis for our emissions calculations methodology and align with the ESRS requirements when appli-cable. This year our emissions calculations has not been impacted by the ESRS requirements.In general terms, where we have not been able to collect actual data, we use assumptions and estimates for the reporting of the relevant data points. We reassess our methodology for using estimates and judgements on a regular basis as data access becomes better and with the ongoing development of ESG reporting. Please see our accounting policies including descriptions of assumptions, estimates and sources used for each metric.In the event of restating non-financial data, we  restate in accordance with our internal policy.  Changes in preparation or presentation of sustainability informationFollowing the 2025 review and amendments to the DMA, we have reviewed the descriptions and scope of our identified IROs. As part of this process, we have introduced changes to simplify them and to ensure a clearer, more strategic approach. As a result of the review, we have also removed pollution in our own operations from the scope, and therefore excluded the narrative and metrics related to substances of concern. See the overview of changes to the IROs on page 120-121 and an overview of KPI changes on page 119. In 2025, we have a restatement to our scope 2 market-based emissions for 2024 due to addi-tional renewable energy certificates purchased at our sites (See page 71).For information on where to find each disclosure on ESRS, see pages 115-119. Following the divestment of the cement business, certain KPIs are presented both as Continuing activities and combined Cement and Mining. Where not explicitly stated, KPIs are reported including both Cement and Mining figures. Certain social KPIs measured per 31. December cover only Continuing activities. Comparative numbers and baselines will be recalculated in 2026 to reflect the divestment of the cement business.EnvironmentAs a full flowsheet solutions provider to the mining industry, we focus on reducing the environmental impact of our own operations and value chain, working with our key partners to address impacts related to climate change, water, pollution, biodiversity and natural resources.EnvironmentAt FLSmidth, we recognise that true sustainability starts with robust and accountable practices. As part of this commitment, our environmental management system is ISO 14001 certified, demonstrating our dedication to ongoing improvements and responsible operations at all our locations and throughout our entire value chain.Our environmental commitments are detailed in our Environmental Policy, which applies to the entire company, our employees and subsidiaries. It also applies to any company acting on behalf of or in the name of FLSmidth, specifying that the company will advocate commitments consistent with the policy when engaging with suppliers and business partners.To address environmental challenges in our value chain we are committed to providing comprehen-sive, full flowsheet mineral processing equipment and services designed for sustainable mining operations and collaborating with our suppliers to minimise impacts.We align our practices with national and EU regulations related to water, pollution, chemicals, biodiversity and waste. We are committed to identifying, assessing and managing our impacts, risks and opportunities related to the environment through our environ-mental management system, certified according to ISO 14001. This system is implemented in our operational sites, where assessments on specific environmental aspects are performed and envi-ronmental monitoring is carried out through audits, assessments of legal compliance and envi-ronmental indicators and improvement actions.As defined in our Environmental policy, the Board of Directors and the CEO are responsible for overseeing critical decisions, setting targets, conducting periodic reviews and supporting FLSmidth’s environmental related ambitions. The Executive Leadership Team holds overall account-ability for the direction, progress and focus of our environmental efforts and targets and is responsible for evaluating the performance and effectiveness of the environmental management system, including the review of the identified environmental risks and opportunities and the effectiveness of actions taken. The Chief People Officer and Global Business Services, EVP is responsible for implementation of our commit-ments to minimise our environmental impacts. Local site managers are responsible for reviewing the site environmental performance and imple-mentation of the site environmental plan, site safety inspection records, and incident investiga-tion reports. To further strengthen our internal environmental competence, a digital e-learning course was developed in 2025 to provide more practical guidance to key employees related to environ-mental management and assessment of impacts, risks, and opportunities. Additionally, all FLSmidth employees have access to the UN Global Compact Academy, which provides online training on sustainability topics, including environmental matters. Targeted environmental training has been made mandatory for key employees.Climate changeAssessing impacts, risks and opportunitiesClimate-related IROs were assessed by screening our current and planned activities in alignment with the TCFD recommendations, in different scenarios, in the short, medium and long-term.Scenario analyses considered both physical and transition risks using pathways aligned with the Paris Agreement (1.5°C) and higher-tempera-ture scenarios informed by global models such as those from the Intergovernmental Panel on Climate Change (IPCC) and the International Energy Agency (IEA).  By using multiple scenarios, we can cover the most plausible risks and uncertainties. This helps assess physical and transitional risks. Key drivers taken into consideration include water scarcity, extreme weather events, macroeconomic trends, energy usage and mix, technology assumptions and evolving regulatory pressures to evaluate impacts of delayed climate action. Our assessment indicates no material climate-re-lated risks to our operations. See more details on this assessment on page 57-58. We consider an indirect climate-related risk in our upstream stage of the value chain, related to sourcing of materials, as scarcity of raw materials has the potential to increase procurement costs and purchasing dealys; this is described in Circu-larity section, as IRO 11 on page 82.  Identified opportunities are aligned with our ambition to be a trusted sustainability partner for our customers. Through customer-focused, tech-nology-driven solutions, we contribute to more sustainable mining operations.IRO 1: COe emissions 2UpstreamNegative impact: Procurement of raw materials to manufacture our products, mainly steel, which emits significant  CO e emissions in the produc-2tion process. Own operationsNegative impact: CO e emissions from energy 2consumption (electricity and fuel) related to our operations.DownstreamNegative impact: COe emissions generated from 2the use of our products, if not run on renewable energy sources (scope 3, category 11 Use of sold products GHG emissions).See how we work to reduce emissions across our value chain on page 66-69.Impacts, risks and opportunitiesIRO Actual Potential – + ! Time horizon1 COe emissionsShort-term22  Energy optimisation Short-term3   MissionZero portfolio &amp; Short-termenvironmental stewardshipLocation in the value chain:     Upstream   Own operations Downstream Impact, risk and opportunity:  —   Negative  +  Positive Opportunity  !  RiskClimate changeIRO 2: Energy optimisationOwn operationsOpportunity: We can reduce operating costs through onsite energy savings initiatives. Installing renewable energy on-site can reduce non-renewable energy consumption and reduce the cost of energy to mitigate dependency on unreliable energy supply. Energy efficiency measures, such as LED lighting, motion sensors, and thermostat controls, can also reduce energy consumption and costs. See how we optimise energy usage on page 67-68.IRO 3: MissionZero portfolio &amp;  environmental stewardshipDownstreamPositive impact: Decarbonisation of mining processes by providing technical expertise and specialist energy efficient technologies that are able to run from electricity or other renewable sources.Opportunity: Growing sales of specialist technol-ogies will improve financial performance. See how we support the energy transition with our technologies on page 68.Transition plan for climate change mitigationWe have ambitious climate change-related near-term targets validated by the Science Based Targets initiative aligning with the 1.5°C scenario 3in the 2015 Paris Agreement. These targets address our value chain impacts on climate change through our scope 1, 2 and 3 GHG emis-sions. In 2025, we have also set a long-term target for our total carbon footprint, with an emissions reduction ambition of 90% by 2050, in line with the 1.5ºC pathway. See more information about our targets on page 68-69.We have identified that the primary decarbonisa-tion drivers for our Scope 1 and Scope 2 emissions lie within electricity and transport. Key initiatives include the procurement of renewable elec-tricity through RECs and PPAs, the installation of on-site solar generation, broad energy-efficiency improvements, and the transition to electric vehi-cles and forklifts.By shifting to renewable energy sources across these areas, we are able to meet our emissions reduction targets while increasing energy resil-ience. By shifting to renewable energy sources and improving efficiency, we reduce exposure to grid electricity price volatility and establish greater long-term cost certainty.In our supply chain, we engage suppliers and encourage the adoptation of science-based targets (SBTi). For customers, through our product and service portfolio, we focus on developing technologies and services that use renewables and boost energy efficiency to help reduce emissions and consumption. See our progress on page 71. Our climate transition plan is aligned with our overall business strategy and financial planning. It is approved and monitored by the Executive Lead-ership Team.  The budget for transition activities is approved by management as part of our financial planning for each upcoming year. We are working on integrating EU taxonomy-aligned activities into our CAPEX planning process and have identified future activities that support increased alignment across our revenue and CAPEX, see more on page 87-88. Progress on our Climate Transition Plan is reported to the Audit, Risk and ESG Reporting Committee.We have assessed our product portfolio for locked-in GHG emissions, and all products have the ability to run from renewable energy sources. We are working closely with customers to enable them to make this transition through modifications of existing installed products or new technologies.We do not pursue new coal greenfield projects but support existing customers through current technologies in an efficient transition to cleaner energy. As a result we made no investments in coal, oil, or gas-related activities in 2025.In  2025, we have publicly taken part in the CDP process as a reporting organisation and achieved an A- score in climate change. PoliciesUpstream, Own operations, DownstreamIRO 1, 2 &amp; 3: Our Climate Action Policy outlines our commitments and ambition to reach our climate targets across all our own operations, reducing emissions through energy efficiency and deploy-ment of renewable energy, and throughout our value chain (collaborating with suppliers and enabling the green transition in the mining industry through our product and services portfolio). Renewable energy adoption is addressed through our commitments to a transition from fossil fuels to renewable fuels or electrification of internal transport; continued expansion of on-site gener-ation of renewable electricity; and where feasible the development of renewable energy production through power purchase agreements and renew-able energy certificates.The policy applies to the entire company, our employees and subsidiaries. It also applies to any company acting on behalf of or in the name of Climate changeFLSmidth, specifying that the company will have to advocate for commitments consistent with the policy when engaging with suppliers and business partners. The Chief People Officer and Global Business Services, EVP is accountable for implementation of our commitments to reduce our COe emissions 2across the value chain. How we are taking actionUpstreamIRO 1: Given the significant emissions associated with steel production, we are working to increase our share of procured scrap steel relative to virgin steel. See more about our ABON steel reuse programme on page 85.We are also exploring the use of lower-emission materials (e.g., recycled aluminium, composite materials) and designing our products to use less material overall. An example is our composite mill liners, which are on average 50% lighter.Additionally, we promote science-based target setting with all our suppliers. As part of new onboarding processes developed over 2025, we are assessing our suppliers on their climate action performance. In 2025, we had a  25.0% spend on suppliers with science-based targets.Own operationsIRO 1 &amp; 2: We measure our COe emissions 2through carbon footprint calculations based on international standards. To reduce our impact, we are committed to using energy responsibly at manufacturing and service centres to reduce our energy use and COe emissions.2In 2025, we had DKK 120 million in CAPEX related to climate mitigation activities as detailed in our EU taxonomy disclosures on page 87-88.Further, we have developed energy reduction guidelines and best practice recommendations through our environmental blueprints for all sites and implementing energy management proce-dures at our most energy-intensive sites. We prioritise energy efficiency when buying new assets and we have initiated more training and awareness campaigns to encourage employees to consider responsible use of energy resources. We continue transitioning to more energy-efficient equipment, such as compressor systems, welding and assembly machinery.In 2025, we quantified and verified the organ-isational carbon footprint of our Casablanca plant and Renca Supercenter in Chile, as well as the carbon footprint of low-carbon ARMOUR mill liners produced in Chile. This assessment, conducted in accordance with ISO 14064, covers the entire manufacturing process from the plant Climate changeto the final customer or destination (cradle-to-gate LCA). Our industrial energy efficiency project in the Casablanca plant, consisting of a new process to manufacture mill liners with a new elec-tric autoclave, has led to a 56% emission reduction 4in manufacturing process. These efforts have been recognised by HuellaChile, the national carbon emissions management program of Chile. This is a reference tool used in Chile by our major Quantification, Reduction, and Product Carbon Footprint seals, acknowledging conformity with the HuellaChile programme and NCh-ISO 14064/2:2019.customers to evaluate their strategic suppliers, with the quantification, reduction, and product carbon footprint seals, acknowledging conformity with the HuellaChile programme.We are continuing our transition from fossil fuels to renewable electricity and fuels by phasing out fossil fuels in internal transport and introducing elec-tric-powered transport equipment where feasible. Where possible, we seek to obtain renewable energy through onsite generation and certificates in regions. In 2025, we continued to generate more of our own renewable electricity from installed solar capacity completed during the second half support the transition to a more sustainable 6economy.We are continuing to improve emission data and performance studies of our products. We  conduct life cycle assessments (LCAs) to assess the environmental performance of prod-ucts across their entire life cycles. In 2025 we completed an LCA of the ARMOUR mill liners (covering the entire manufacturing process) at our sites in Chile and the HPGR Pro, encompassing full life cycle processes and benchmarking against the best available technologies in the market. The latter has led to an increase in our EU taxonomy alignment percentage. See more on page 87-88. In addition to our product LCAs and taxonomy reporting, we have developed an internal calcu-lator for product carbon footprints under ISO 14067 methodology which can help us rapidly deliver accurate emissions data for customers. In 2025, we have initiated our pathway toward an SBTi aligned Net Zero long-term target. As a first milestone, we established a long-term target for our total carbon footprint, covering scopes 1, 2 and 3, with a 90% emissions-reduction ambition by 2050 aligned with the 1.5ºC trajectory. In 2026 we will update our 2019 baseline to reflect the divestment of the cement business line and renew our scope 3 targets, with a 30% reduction target by 2030 aligned with WB2C pathways. TargetsUpstreamIRO 1: To address our upstream impact in scope 3 (category 1, purchased goods and services), we had committed to achieving 30% of our spend on goods and services by 2025 with suppliers who have science-based targets. Our spend in Continuing  Target Upstream decarbonisationactivities  2025 2025 20242025Spend with suppliers with science-based targets (%) 25.2% 25.0% 22.5% 30%§  Accounting policies Spend with suppliers with science-based targets (%)Measured as the percentage of total annual supplier spend attributed to suppliers who have either validated science based targets or have submitted targets for validation with the Science Based Targets initiative (SBTi).of 2024. Out of our total electricity consumption in 2025, 6% was self-generated. We continue to purchase renewable energy and in 2025, 19% of our energy usage derived from renewable sources. Of our Scope 2 energy usage, 36% was supplied through energy contracts supported by Renewable Energy Certificates (RECs), Power Purchase Agree-ments (PPAs), and supplier agreements, with 31% coming from RECs and the remaining 5% from PPAs. In the following years we will continue our efforts to secure renewable energy across our sites. Further CAPEX investments will be evaluated throughout the year.DownstreamIRO 1 &amp; 3: We continue to bring technologies to market that enable our customers to reduce emissions and their impact on the environment. In 2025, our R&amp;D spend on activities related to solutions for energy and emissions improvements 5accounted for 76% of our total R&amp;D budget.In Mining, we successfully brought the Reflux Flotation Technology to market, which operates with reduced power consumption up to 70% less energy demand compared to traditional flotation technologies. This technology also improves recovery rates of valuable minerals while achieving higher product grades, contributing to more efficient resource utilisation. We will continue our R&amp;D efforts and focus on providing low carbon technologies to our customers to Climate change2025 was 25.0%, which is a 2.5 percentage-point increase from 2024. Although we did not meet the target this year, we remain committed to making steady progress. We will continue monitoring this share of spend on suppliers with SBTs on an annual basis as a metric to track progress towards our new scope 3 emissions reduction target of 30% reduction by 2030. Scope 3, category 1 emissions increased and was in line with our expectations. As we are using a spend-based approach for category 1, the increase is in line with the increases to of our category 11 which we expect to be positively correlated. Own operationsIRO 1: We have set science-based targets to reduce our absolute scope 1 and scope 2 (market-based) GHG emissions by 100% by 2030  compared to 2019. In 2026, we will renew this near-term target as required by SBTi, maintaining our carbon neutrality ambition and considering our focus on the mining industry.  In 2025, our target was 32,871 tonnes COe.2Scope 1 &amp; 2 market based emission fell in 2025 by 8.8 % to 27,221 tonnes COe; a 44% reduction from 2our 2019 base year. This was driven by right-sizing of the organisation and increased generation of onsite energy from solar power installations. Market-based emissions were also supported by more sites covered by Renewable Energy Certificates (RECs), though the volume of RECs purchased was lower year-on-year due to a smaller company footprint. Whilst the sale of Cement business occurred in the last quarter of 2025, this had a nominal impact on the year-on-year develop-ment, due to the relevant small remaining footprint of the cement business. Scope 1 emission reduc-tion was less pronounced than scope 2 as a colder winter at the beginning and end of 2025 resulted in more district heating and fuel use.IRO 2: As the majority of our emissions are derived from energy consumption, our energy-related goals are embedded within our broader emission reduction objectives. This approach ensures that our efforts to reduce energy use and increase renewable energy generation are directly tied to and supportive of our goal of reducing emissions, thereby providing a comprehensive and integrated strategy for achieving our environmental targets.DownstreamIRO 1 &amp; 3: In addition to our 30% scope 3 emis-sions reduction target set in 2025 to be achieved by 2030, we have an economic intensity target. This aims to decouple the growth of our business from the growth in emissions. Economic intensity represents the emissions from the lifetime use of products sold (scope 3, category 11 use of sold products) in the reporting year divided by order intake for the same period. Our 2030 target is to reduce economic intensity of emissions by 56% against a 2019 baseline.This year, our economic intensity increased to 3,455 tCOe/DKKm by 22.8%. This was driven by 2an increase in our scope 3 cat. 11 emissions (use of sold products) and impacted by a low compar-ative year in.  Lifetime emissions from use of sold products is a volatile measure and highly corre-lated to order mix and the energy requirements of the products sold. During 2025, increased sales in our pumps business as well as a number of orders in the vertical and horizontal mills product lines drove the overall increase.  Whilst this represents an increase in scope 3 emisisons our economic intensity at the end of 2025 represents a reduction of 63% compared with our 2019 base year, which is 15% below our 2025 target.In 2026, we will renew our scope 3 near-term targets, according to SBTi requirements, shifting to absolute value. Internal carbon pricingWe apply an implicit internal price on carbon to support energy efficiency and the reduction of scope 2 emissions. The price is based on regional renewable energy procurement costs and calcu-lated as the marginal cost per tonne of CO equiv-2alent avoided. Technically, this approach, which reflects the avoided emissions cost associated with renewable energy certificates, provides a practical, geographically tailored incentive to prioritise low-carbon solutions and track progress toward full scope 2 decarbonisation by 2030. We are currently evolving this approach to establish a more comprehensive internal carbon pricing framework to inform long-term investment deci-sions across our operations.Climate changeEnergy consumption Continuing activities Total energy consumption in MWh related to own operations2025 2025 2024 Change (%)Total energy consumption from fossil sources 73,977 80,564 87,76 1* -8.2%Fuel consumption from coal and coal products 0 0 0Fuel consumption from crude oil and petroleum products 17, 93 7 19,085 21,060 -9.4%Fuel consumption from natural gas 26,147 28,513 29,605 -3.7%Consumption from other fossil sources 0 0 0Consumption of purchased or acquired electricity, heat, steam, and cooling from non-renewable sources 29,893 32,966 3 7,0 9 6 * -11.1%Share of fossil sources in total energy consumption (%) 83% 81% 83%* 1.6%Total energy consumption from renewable sources 15,657 18,303 17,825* 2.7%Fuel consumption from renewable sources 14 16 17 -6.8%Consumption of purchased or acquired electricity, heat, steam, and cooling from renewable sources 13,000 15,642 16,057* -2.6%Consumption of self-generated non-fuel renewable energy 2,643 2,645 1,751 51.1%Share of renewable sources in total energy consumption (%) 17% 19% 17%* 11.8%Total energy consumption from nuclear sources 0 0 0Total energy consumption in MWh related to own operations 89,634 98,866 105,586* -6.4%7Energy Intensity related to high energy sectors (mWh/mDKK revenue)6.1 5.5  5.2* 7   All energy consumption and revenue generated is from high climate impact sector with NACE code C28.9 - Manufacture of other special-purpose machinery*  2024 numbers has been restated due to additional renewable energy certificates purchased at our sites. This has increased the percentage of renewable sources and also has a material impact to our Scope 2, market based number for 2024.§  Accounting policies Energy consumption and mixEnergy consumption (MWh) for FLSmidth comprise all energy consumption, including energy consumption from fossil sources, renew-able sources and nuclear generation. All energy consumption is based on invoices, meter readings and supplier reports, and is collected monthly for all entities within our financial control. DEFRA emission factors released in 2025 were used for the current reporting period to calculate activity data for COe.2Offices with fewer than 10 people are not included since most of the employees work from home and emissions are insignificant. Customer sites during project-related activities are not included since we do not have financial control over those sites.Share of renewable sources in total energy consumption (%)The share of renewables (%) is calculated as energy consumption from renewable sources divided by total energy consumption in the reporting year.Energy intensity Total energy consumption (MWh) in high inten-sity sectors divided by revenue from high inten-sity sectors for the same period. We assess that all revenue is attributed to high intensity sectors.Climate changeScopes 1, 2  and 3 GHG emissionsContinuing activities TargetTarget Baseline  Annual % (tCOe)2025 2025 2024 Change (%)20252030(2019)target/ baseline2Scope 1 GHG emissions 10,358 11,244 11,464 -1.9%  Share of Scope 1 GHG emissions from regulated emissions trading schemes (%) 0% 0% 0% 0% Scope 2 GHG emissions  Location-based 18,989 20,463 22,431 -8.8%Market-based 15,217 15,978 18,383* -13.1%Total scope 1 &amp; 2 (location-based) 29,347 31,706 33,895 -6.5% Carbon 8Total scope 1 &amp; 2 (market-based) 25,575 27, 22 1 29,847* -8.8% 32,871neutral  49,042 9%Scope 3 Cat.1) Purchased goods and services 1,200,00 1,500,000 1,300,000 15.4% 1,600,000Cat.6) Business travel 13,158 1 7, 62 5 29,852 -41.0% 42,066Cat.11) Use of sold products 47,100,000 61,800,000 57,100,000 8.2% 225,200,000Total scope 3 48,313,158 63 ,317,6 25 58,429,852 8.4% 226,842,066Total GHG emission (location-based) 48,342,505 63,349,331 58,463,747 8.4% 226,895,266Total GHG emissions (market-based) 48,338,733 63,344,846 58,459,699* 8.4% 226,891,108(tCOe/mDKK revenue)2GHG Intensity - Scope 1 &amp; 2 (location-based) 2.0 1.8 1.7 6.0%GHG Intensity - Scope 1 &amp; 2 (market-based)  1.8 1.5 1.5 0.7%GHG Intensity - Scope 1, 2 and 3 (location-based)  3,308 3,556 2,896 22.8%GHG Intensity - Scope 1,2 and 3 (market based) 3,308 3,556 2,896 22.8%Economic Intensity (tCOe/mDKK order intake) 3,131 3,455 2,985 15.8%  4,069  9,248 5%2* The 2024 number has been restated due to additional renewable energy certificates purchased at our sites (previous value: 30,638 tCOe).28   Target of 100% emission reduction by 2030 approved by SBTi (near-term target in line with 1.5ºC pathways)This table outlines our scope 1, 2 and 3 emissions and inten-sity. Scope 1 includes direct emissions from our operations; scope 2 covers indirect emis-sions from purchased energy; and scope 3 accounts for other relevant indirect emissions across our value chain. This overview provides insight into our total carbon footprint and the progression made towards reducing emissions. For information on the move-ments of key figures, see page 68-69.§  Accounting policies Scope 1 GHG emissionsScope 1 emissions are direct emissions of greenhouse gases (GHG) and are measured as CO-equivalents. Scope 21 emissions for FLSmidth comprise fuel and gas use for various operational activities. Scope 1 involves three different categories: stationary combustion, mobile combustion and fugitive/process emissions. DEFRA emis-sion factors released in 2025 were used for the current reporting period to calculate activity data for CO-equiv-2alents. Offices with fewer than 10 people are not included since most of the employees work from home and emissions are insignificant. Customer sites during project-related activi-ties are not included since we do not have financial control over those sites.Scope 2 GHG emissionsScope 2 emissions include indirect emissions from electricity, heat, steam and cooling purchased and consumed by FLSmidth. We use location-based and market-based methods for calculations of scope 2 emissions. For location-based, emission factors are derived from the International Energy Agency (IEA), and for market-based, we use residual emission factors. If market-based residual emission factors for certain sites are not available, i.e. outside Europe and North America, we use location-based emission factors, cf. recommendations from the CDP web page. Emission factors released in 2025 were used for the current reporting period. Offices with fewer than 10 people are not included since most of the employees work from home and emissions are insignificant. Customer sites during project-related activities are not included since we do not have financial control over those sites.GHG intensity, scope 1 and 2 (location-based) Total of scope 1 and 2 emissions in tonnes of CO-equiv-2alents divided by revenue for the same period. Shown for both location-based and market-based. tCO/DKKm 2revenue.GHG intensity, scope 1 and 2 (market-based)Total of scope 1 and 2 emissions in tonnes of CO-equiv-2alents divided by revenue for the same period. Shown for both location-based and market-based. tCOe/DKKm 2revenue.Scope 3, Category 1 (Purchased goods and services)greenhouse gas emissions GHG emissions from purchased goods and services are estimated based on the quantities of goods purchased, using spend data, material specific spend weightings, and raw material cost information. The spend data and raw material cost data are extracted from our relevant internal systems. The material specific spend weightings estimations are provided directly by internal supply chain experts. The share of scrap steel procured represents approximately 60% of the total steel purchased during the reporting period. Indirect spend is included as an adjust-ment by increasing the final direct spend emissions value by 5%.Upstream cradle to gate GHG emissions associated with these purchased goods are determined using life cycle cradle to gate emission factors sourced from expert lifecycle databases. Figures are rounded to the nearest hundred thousand tonnes of CO equivalents (tCOe) to 22reflect the inherent uncertainty associated with Scope 3 calculations. Scope 3, Category 6 (Business travel) greenhouse gas emissions (tCOe) 2Business travel emissions are provided from our travel management system and cover air travel. In 2025, FLSmidth estimated approximately 97% of in-scope air travel travel GHG emissions are captured through our booking platform and therefore adjusted the figure captured in the booking system upwards by 3%.Scope 3, Category 11 (Use of sold products) green-house gas emissions This category includes the current and expected future direct use-phase GHG emissions from our products sold in the reporting year over their entire expected lifetime, following the GHG Protocol. As such, these emissions are not directly comparable to reported actual GHG emissions that have already occurred.Lifetime power consumption and fuel consumption from the use of our sold products are converted into GHG emis-sions using conversion factors for electricity and fuels. For electricity, global IEA factors for GHG emissions in CO-equivalents per kWh are used. IEA electricity trans-2mission and distribution losses are included to improve accuracy. For fuels, DEFRA CO-equivalent conversion 2factors are used, including well-to-wheel emissions. GHG emissions from fuel burning are allocated to the products consuming the fuel energy. FLSmidth collects where possible primary product data on the energy and fuel type consumption for large project orders. Due to the sale of the cement business line, the economic intensity factor has been calculated based on annual order intake. The calculation uses product-level data from 2021–2023 by taking the historical emissions of the sold products and dividing them by the order intake for those product lines.Numbers have been rounded to the nearest hundred thou-sand tonnes of CO-equivalents to reflect the inherent 2uncertainty of scope 3 calculations. (tCOe)2Economic Intensity (tCOe/mDKK order intake)2Scope 3, category 11 GHG emissions from lifetime use of products sold in the reporting year divided by order intake for the same period. Process emissions are excluded.Total scope 3 greenhouse gas emissions (tCOe)2The total scope 3 GHG emissions reported are the sum of the individually reported categories for scope 3. Scope 3 categories with emissions below 0.1% of total scope 3 GHG emissions are not included in the reporting, except for category 6 business travel. Combined, these categories make up less than 0.1% of the total scope 3 GHG emissions, according to our 2019 baseline mapping. Figures have been rounded to the nearest hundred thou-sand tonnes of CO-equivalents to reflect the inherent 2uncertainty of scope 3 calculations. Process emissions are excluded. Total Scope GHG emissions (location-based) &amp;Total GHG emissions (market-based) Total of scope 1, scope 2 (shown for both location-based and market-based), and scope 3 emissions in tonnes of CO-equivalents. 2Climate-related risks and opportunitiesType  Drivers  Description  Risk exposure  Opportunity level  Time horizon Current and planned actionsTransitional  Carbon taxes Regions introducing or planning to Medium  Low Medium-term Develop reporting and governance processes for and introduce carbon pricing and/or trading CBAM and EUDR to support future reciprocal legisla-regulationsschemes similar to CBAM and EUDR that tion from non-EU regions.may increase costs of operationsTransitional Demand Substitution of existing products and Low High  Short-term Develop and execute R&amp;D roadmaps for key sustain-for green services with lower-emission options.ability areas, including CO, NOx and water. Scout for 2productstechnology partnerships. R&amp;D spend on sustaina-bility technologies in 2024 was 58.4%. Discontinue investment in coal-related R&amp;D since 2022.Transitional Reputational Company is negatively perceived as Medium N/A  Medium-term Technical adviser to the World Bank IFC Net Zero impactpart of a polluting industry.Roadmap for Mining Technical Working Group (TWG). Regular dialogue with relevant financial organisations about FLSmidth’s transitional role. Transitional Access to (Sectoral) risk of reduced access to Medium Low  Medium-term Alignment with key sustainable finance standards. capitalcapital due to high environmental Discontinue investment in coal-related R&amp;D since impact.2022.Physical  Storms and Storms and cyclones can impact supply Medium Low  Medium-term Mining and cement operations are relatively resilient cycloneschain and production capacity, as well to extreme weather events due to the robustness of as labour conditions and construction equipment. Continuous improvement/monitoring of of new plants.safety procedures for own employees in risk areas. Physical  Drought Drought leading to water scarcity, Medium High Medium-term Execute on R&amp;D technology roadmaps in key sustain-operational disruptions and increased ability areas including water. Identify suppliers and operating costs.own locations with increased risk of flooding.Physical  Flooding Flooding can impact supply chain and Medium Low  Short-term Continuously improve supply chain resilience and production capacity, create operational monitor safety procedures for own employees in risk disruptions and increase operational areas. costs.Low (0%-2% impact on total revenue/costs); Medium (2%-6% impact on total revenue/costs); Significant (6%-20% impact on total revenue/costs); High (&gt;20% impact on total revenue/costs). This scale is aligned with Materiality scale of DMA methodology (See page 57-58).9   Temperature rise below 2oC by 2100To determine our climate-related financial impacts we have adopted scenario analysis to assess actual and potential risks and opportunities. To assess high physical risks we apply an RCP8.5, or business as usual, scenario where we use third-party tools to evaluate our operational exposure to a range of climate risks. To assess transition risk we have used the principles of a RCP2.6 degree 9scenario, using a delayed transition scenario.FLSmidth has assessed not to have any material financial risks related to climate related risks, though recognise climate risks are correlated to identified IROs in other sections of this report; such as IRO 8: Licence to Operate and IRO 11: Sourcing of materials.As a pure play Mining equipment supplier of products and services with lower emissions, FLSmidth has an opportunity to benefit under a green transition, both as a result of increased demand for commodities required for the green transition but also as Miners themselves need to decarbonise their operations. FLSmidth’s diverse portfolio of products and services would support the increase in demand for commodity produc-tion; whilst our EU taxonomy Eligible and Aligned products would be those more positively exposed to our customers decarbonisation goals (See page 87-88). For business related risk please see ERM section on page 39-40.PollutionAssessing impacts, risks and opportunitiesWe evaluate environmental impacts of our activ-ities through our Environmental Management system, which is ISO 14001 certified (See page 64), including pollution. At our own operations we prevent and control emissions of pollutants to air and substances of concern, in accordance with industry standards, ensuring compliance with all regulatory thresholds. In 2024, we reported on pollution and substances of concern in our own operations for the first time. The lower than expected volumes, meant that during our 2025 DMA review we re-assessed that pollu-tion from own operations was not material. As a result, pollution will no longer be treated as a material topic for our own operations at a group reporting level from 2025. Meanwhile pollution and substances of concern will still be managed and controlled at a facility level as this is still impor-tant area from a health and safety perspective for our own workforce.For upstream and downstream value chain assess-ments, we engaged internal specialists as subject matter proxies and applied recognised industry standards as reference points for potential impacts.IRO 4: Air pollution from production UpstreamNegative impact: Procurement of unfinished products containing raw materials, mainly steel, to manufacture our products involves the use of chemicals such as polychlorinated dioxins (PCDDs) and furans (PCDFs), leading to NOx and SOx emis-sions in the production process.IRO 5: Tailings solution offeringsDownstreamPositive impact: Specialist tailings equipment can eliminate the need for tailings dams and therefore eliminate the risk of tailings dam breaches and pollution of water or soil in the local environment. See our tailings solutions offerings on page 75.  PoliciesUpstreamIRO 4: In our supplier code of conduct we commu-nicate our expectations that our suppliers work with pollution prevention by minimising or elimi-nating emissions and discharges of pollutants at the source or by adding pollution control equip-ment; modifying production, maintenance, and facility processes; or by other means. Impacts, risks and opportunitiesIRO Actual Potential – + ! Time horizon4  Air pollution from productionShort-term5  Tailings solution offeringsShort-termLocation in the value chain:     Upstream   Own operations Downstream Impact, risk and opportunity:  —   Negative  +  Positive Opportunity  !  RiskPollutionDownstreamIRO 5: Pollution is addressed in our Environmental policy through the commitment of developing tailings management solutions to prevent water and soil pollution in the mining industry.See more details on our Environmental policy on page 64.  How we are taking actionUpstreamIRO 4: All suppliers are required to commit to our Supplier Code of Conduct, which describes our expectations for preventing and reducing pollu-tion and discharge of pollutants to wastewater in the supplier’s manufacturing processes. In addi-tion, we conduct onsite assessments of suppliers in which employees visiting suppliers observe and report on concerns or inconsistencies related to environmental, social or governance issues.Additionally, to reduce our negative impact from the procurement of steel, which is a key sourced raw material, we are working on increasing our share of procured scrap steel. See more about our ABON steel reuse programme in page 85.DownstreamIRO 5: We continue to invest in developing tech-nologies related to tailings and water manage-ment with the aim of reducing pollution of local water sources and surrounding environments that can potentially occur from tailings breaches and wastewater discharge. Through our dry stack tail-ings technology, we eliminate the use of tailings dams and thereby reduce the impacts associated with tailings dam breaches. TargetsUpstreamIRO 4: We are in the process of identifying rele-vant targets for our procurement of scrap steel.DownstreamIRO 5: We are in the process of identifying if relevant targets can be set for our tailings dam product portfolio. WaterAssessing impacts, risks and opportunitiesWater is a finite and essential resource for society and the environment, which is why water manage-10ment is considered a key issue in our value chain. We evaluate environmental impacts of our activ-ities through our Environmental Management system, which is ISO14001 certified (See page 64). Our water-related risk assessment was guided by the EU Water Framework Directive and included evaluation of dependencies, water stress, scar-city and quality using tools such as the World Resources Institute's Aqueduct Water Risk Atlas and the WWF Water Risk Filter to consider geographic risks and river basins for all our own locations and main suppliers. We also assessed the primary locations of our customers’ mines, where our products are used, in relation to water-scarce areas. During our 2025 DMA reassessment, scientific evidence showed that, although the steel industry is traditionally considered water-in-tensive, it achieves approximately 90% water reuse. As a result, water has been removed as a material topic in our upstream value chain.In 2025, we moved our CDP disclo-sure to a B score in the Water Security category.IRO 6: Water withdrawalOwn operationsNegative impact: While our manufacturing oper-ations are not considered water intensive, we acknowledge that water scarcity remains an important global concern. This issue is especially significant in regions experiencing water stress, where many of our facilities and offices are based, making sustainable water management a priority. See how we reduce our water use on page 77.IRO 3: MissionZero portfolio &amp; environmental stewardshipDownstreamPositive impact: We develop technologies and solutions that enable water recycling and lower water consumption in the mining process, reducing the impact on the local environment and community, particularly in water-scarce areas.Opportunity: Growing sales of our services regarding processing expertise and of our tech-nologies for improved water efficiency, (grinding, classification, flotation and dewatering product lines), will improve financial performance. See how we support our customers to reduce water use on p a g e  7 7.Impacts, risks and opportunitiesIRO Actual Potential – + ! Time horizon6  Water withdrawalShort-term3   MissionZero portfolio &amp; environ-Short-termmental stewardshipLocation in the value chain:     Upstream   Own operations Downstream Impact, risk and opportunity:  —   Negative  +  Positive Opportunity  !  RiskWaterPoliciesOwn operationsIRO 6: Water management is addressed in our Environmental Policy through specific commit-ments concerning water withdrawal, with a special focus on water-stressed areas. These commitments include implementing initiatives to reuse and recycle water at sites where it is feasible in order to reduce water consumption and withdrawal, as well as preventing and treating any possible water pollution that could result from our operations.DownstreamIRO 3: Our Environmental Policy outlines our commitment to developing technologies and services to help mining companies reduce water use and maximise water recovery thus improving water efficiency in the mining industry.See more details on our Environmental policy on page 64.  How we are taking actionOwn operationsIRO 6: We continue to focus on reducing water withdrawal at our own sites with a special focus on those located in areas of water-stress.We are increasing water reuse and recycling prac-tices. Some sites include water treatment facilities to handle wastewater generated from testing the equipment and water from sewage, which is then reused either in our processes or for gardening. At some other sites, water is sourced from secondary sources, such as storm water and rainwater. An example is our new water recycling system installed at our site in Tucson, USA which is located in a water stressed area. This marks a signifi-cant step in reducing the facility’s overall water consumption and environmental footprint. The innovative system features a 360-gallon retention wall and holding tank which captures and reuses both pump test water and rainwater, in a close loop system, thereby reducing reliance on municipal water. By lowering wastewater discharge, and supporting our commitment to efficient, sustain-able operations this example can serve as a model for other facilities.We have begun installing smart water meters at manufacturing sites, service centres and larger offices to enable us to detect leakages earlier. We have introduced new water metrics in our monthly reporting which give us more insight into water consumption, water discharge and water intensity. We conduct awareness campaigns to promote best practice on water conservation and provide training in matters relating to our policy to all relevant employees. DownstreamIRO 3: The mining process relies heavily on water. Tailings management in the mining industry is a key focus area due to its direct correlation with water usage in mining operations. It impacts both the amount of water consumed and the volume of water withdrawn from natural sources. We address downstream water use impacts through our product innovation programme, focusing on developing technologies and services to help mining companies reduce water use and maximise water recovery. Our product portfolio includes water efficient technologies in grinding, classification, flotation and dewatering product lines and services.A key area of our research and development is dry stacked tailings, which use filtration and dewa-tering technologies to extract water from tailings, enabling up to 95% of process water recovery. These solutions have a positive impact on the surrounding environment and local communities, and we remain committed to providing solutions that help customers address these critical envi-ronmental challenges. TMIn 2025, we have launched the coarseAIR flota-tion cell, an innovative approach to coarse particle flotation, enabling the recovery of larger ore particles than in conventional flotation. This has a wide range of benefits in certain applications, particularly around energy savings, due to the higher target grind size, and water savings due to the improved dewatering of tailings, meaning lower water consumption.TargetsOwn operationsIRO 6: To monitor our efforts to mitigate our impact on water withdrawal, we set 2030 targets with the aim of a 50% reduction of freshwater withdrawal in own operations and a 50% reduc-tion of freshwater withdrawal in water-stressed areas, against our 2019 baseline. In 2025 water 3 with 114,497mwithdrawal was 139,007m in water stressed areas. This represents a 37% and 11% reduction from baseline. Whilst our water withdrawal reduction has progressed ahead of schedule, withdrawal from water stressed areas has fallen at a slower pace. This is partly due to the make-up of our global footprint, as well as more regions experiencing water-stress.Due to material changes in our business from the divestment of the Cement business line, in 2025 we have revised our targets to better reflect our ongoing activities. We re-establish our baseline to reflect our 2025 figures for continuing business and set reduction goal of 25% in water withdrawal and withdrawal in water stressed areas by 2030.WaterWater useContinuing Water withdrawal activities TargetTarget and consumption2025 2025 2024202520303Total water withdrawal (m) 128,618 139,007 156,022 183,101 5% year on year3In water stressed area (m) 109,486 114,497 129,295In water stressed area (%) 85% 82% 83%3Water Intensity (m/mDKK) 8.8 7. 8 7.73Total water consumption (m) 57,8 31 60,611 15,292 5% year on year3In water stressed area (m) 57,478 59,874 14,541In water stressed area (%) 99% 99% 95%3Water Intensity (m/mDKK) 4.0 3.4 0.8Water recycled and in storage3Water recycled and re-used (m) 31,583 31,583 03Water in storage (m) 0 0 0§  Accounting policies 3Total water withdrawal (m)Water withdrawal includes all resources FLSmidth withdraws from groundwater or consumes from waterworks. The total volume of water withdrawal data is measured based on invoices from suppliers or meter readings and is collected monthly for all enti-ties within our financial control. We estimate water data for entities with shared office spaces and where data is not accessible, the water use is estimated as follows: office/warehouse –20 litres/per person/day; manufacturing facility –35 litres/per person/day, facility with boilers in use –50 litres/per person/day. Offices with fewer than 10 people are not included. Customer sites during project-related activities are not included since we do not have financial control over those sites.Water intensityTotal water withdrawal divided by revenue for the same period. 3Total water consumption (m)Our water consumption is calculated as the net difference between total water withdrawal and total water discharge. Water discharge includes the sum of effluents, used water, and unused water released to surface water, groundwater, seawater, or a third party, for which the organisation has no further use during the reporting period.Methodology has changed in 2025 from an estimate approach to collection including primary data such as invoices and meter readings. DownstreamIRO 3: Through innovative products and services, we strive to empower our customers to achieve their ambitious water related targets. We aim to opti-mise water recovery and drastically reduce water loss, setting a new standard for sustainability in the industry.Water withdrawal during 2025 fell by 11% from 2024 well below our 2025 target. This was driven both by site consolidations and water reduction initiatives support reuse of test water. However, the percentage of water use in water-stressed areas has increased as site closures in non-stressed regions, mostly in main land Europe, have shifted the overall distribution. The increases in water consumption and water recycled is primarily driven by greater availa-bility of primary data. In 2024, we reported on these KPIs for the first time using an estimates approach, however improvements in acutual data thorough our newly implemented environmental reporting system shows that we reuse facility water, through onsite waste water treatment that is then used for gardening purposes. 2024 numbers are therefore not comparable.Water intensityTotal water consumption divided by revenue for the same period. Water recycled or re-usedWastewater that is recycled or re-used before discharge or consumption. This is our first reporting year in which we are reporting data on wastewater.Water withdrawal and consumption in water-stressed areas Includes the percentage of total water withdrawal or consumption from sites located in areas scoring 4 or above for baseline water stress, as defined by the WWF Water Risk Filter. Beginning in the 2025 reporting year, FLSmidth adopted the WWF Water Risk Filter as the primary tool for identifying water stressed areas, replacing the previously used WRI Aqueduct Water Risk Atlas. No significant differ-ences were observed between the two systems regarding the classification of water stressed areas. BiodiversityAssessing impacts, risks and opportunitiesWe evaluate environmental impacts of our activ-ities on biodiversity through our Environmental Management system, ISO 14001 certified (See page 64). This includes assessing how factors such as GHG emissions, land-use change, pollution and water consumption affect ecosystems.We also utilised the WWF Water and Biodiver-sity Risk Filter tools and the LEAP approach, to evaluate IROs related to biodiversity, including proximity to Key Biodiversity Areas and systemic risks. According to the WWF Water and Biodiver-sity Risk Filter tool, none of our own operational facilities are located in Key Biodiversity Areas. In addition, the WWF tool indicated that the vast majority of FLSmidth facilities fall within Medium, Low, or Very Low biodiversity risk categories, with only a limited presence in the higher risk segments. Our assessments considered dependencies on biodiversity and ecosystems across our value chain, evaluated ecosystem services likely to be disrupted, and identified transition and physical risks and opportunities. For more details on the DMA review see page 57-58.IRO 7: Depletion of natural resources and land-use change DownstreamNegative impact: The construction of mining operations as well as the processes involved with mineral extraction, leads to negative impacts on biodiversity. See how we support our customers in reducing their impact on the land on page 80-81.IRO 8: License to operate DownstreamRisk: An increase in regulatory and reputational pressure on our customers in relation to biodiver-sity impacts, including climate and water drivers, can delay permits and slow the market for newer investments. See how we support our customers through our service offerings on page  81.IRO 9: Reducing mining footprintDownstreamPositive impact: Our products enable customers to improve yields from existing mines, which reduces the negative impacts on biodiversity per unit of output.   See how we support our customers to improve yields below.Impacts, risks and opportunitiesIRO Actual Potential – + ! Time horizon7   Depletion of natural  Medium-termresources and land use change8   License to operateMedium-term9   Reducing mining footprintMedium-term Location in the value chain:     Upstream   Own operations Downstream Impact, risk and opportunity:  —   Negative  +  Positive Opportunity  !  RiskBiodiversityTransition plan and actions taken In general, FLSmidth's sites are placed in devel-oped commercial and industrial areas, which tend to be in existing urban zones. None of our manu-facturing sites, service centers, or offices are located in or near Key Biodiversity Areas. Therefore, identified biodiversity IROs stem from our business relationships and our primary focus is on strategically supporting our customers to address these impacts. While the increasing demand for minerals to fuel the energy transition should drive faster and more efficient production, we are also seeing increased expectations that these minerals are produced in more sustainable and ethical ways. This is then supported by regulation and increased transpar-ency requirements. As biodiversity loss becomes more closely linked with climate change, we are addressing the challenge of biodiversity loss through our current business model and strategy, which focuses on enabling customers to reduce their environmental impacts, reduce their drivers of biodiversity loss (GHG emissions, land-use change, water consump-tion, pollution), and therefore reduce their impacts on biodiversity. Our product portfolio enables our customers to reduce energy consumption and GHG emissions, to prevent water and soil pollution, to reduce water use and maximise water recovery, to maximise yields within a smaller land footprint, thus reducing land use.Two examples are our Delta Stak clarifiers with a patented design that reduces space require-ments, and our Filters, which effectively squeeze moisture from the tailings, allowing for dry stacking, and reducing the tailing pond footprint.We are continuously evaluating the resilience of this strategy with a value chain perspective and adjusting our approach as we respond to market trends and gain knowledge and insight from our customers and affected stakeholders. We seek input from our customers and suppliers on an ad hoc basis to understand their needs. Our strategic direction is a stronger focus on our service offerings, ensuring more effective opera-tion and longer lifespan of our products. Similarly, this allows us to be less reliant on revenue from sales of new products thus reducing our exposure to the financial risks related to biodiversity while also increasing the positive impact that comes with improved yield from existing mines. These efforts can be tracked through our economic intensity KPI.PolicyOur Environmental Policy outlines our commit-ment to develop solutions enabling our customers to address impact drivers on biodiversity loss, including products to maximise yields within a smaller land footprint, thus reducing land use.Our Climate Action policy outlines our commit-ment to provide comprehensive, full-flowsheet mineral processing equipment and services designed for sustainable mining operations. Our extensive product portfolio emphasises energy efficiency and is engineered to operate on renew-able energy sources. Actions and targetsWe aim to help our customers to minimise their impacts on biodiversity through our product and services portfolio. Using the TNFD LEAP approach, we identify where our offerings can deliver the greatest environmental benefits and deepen our understanding of how the industry affects biodi-versity to support new innovations and product designs. Several of our products can help mini-mise the necessary land area for our customers’ mine areas and minimise water consumption and wastewater emissions of our customers’ mining operations. An example is the case study of a large copper mine in Kazakhstan, operating two plants, which increased their tailings thickener underflow densities by 11% following installation of our deep cone thickeners with patented spiral rake blade systems. The new thickeners, installed at their second plant, increased water recovery at the plant by 15% and reduced the flowrate to the tailings facility by 15%. This means, achieving a 15% reduction in tailings volume, thus reducing land use footprint.These reductions in environmental impacts are especially relevant in mines located in high-risk biodiversity areas.Biodiversity11With our solutions we help mining companies to mitigate their impacts on the drivers of nature changes1.  Pre-feasibility study•  Holistic analysis of water and energy requirements to minimise the footprint of the mineral processing plant. Reduction of water, energy, and land use requirements.2.  Primary Crushing &amp; Grinding•  Low-noise/vibration crushers, mills, and pumps.•  Enclosed slurry pumps to reduce dust.•  Predictive maintenance &amp; upgrades to prevent leaks and noise. Reduced dust and noise resulting in better air quality and less disturbance for local communities.3.   Classification   &amp; Separation•  REFLUX &amp; GradePro classifiers with higher efficiency, less water and energy per ton.•  Digital optimisation of flows and separation efficiency.More efficient resource use, reduced fine dust generation.4.   Flotation•  Coarse Particle Flotation reduces reagent consump-tion, improves recovery, produces safer tailings.•  Digital optimisation of reagent dosing and pH control. Less chemical discharge, improved recovery, and reduced harmful tailings.5.  Thickening &amp; Filtration•  High-efficiency thickeners and filter presses.•  Clarifiers for water recovery.•  Up to 95% water recycling from tailings.Cleaner discharge, significant freshwater savings, and reduced stress on local water bodies.6.  Tailings Management•  Dry stacking technologies.•  Safe, engineered tailings storage designs.•  Integrated water recycling systems.Smaller land footprint, reduced risks, safer and more sustain-able tailings storage.CircularityAssessing impacts, risks and opportunitiesWe have identified IROs related to resource inputs, outputs and waste based on the evaluations of environmental aspects of our operational activi-ties and value chain, performed in the framework of our Environmental Management system, which is ISO 14001 certified (See page 64). This includes the use of resources and waste management and considers the environmental aspects in the different life stages of our products (life cycle assessment). IRO 10: Virgin raw materials UpstreamNegative impact: Our suppliers' use of virgin raw materials to produce product components sold to FLSmidth can cause depletion of natural resources. IRO 11: Sourcing of materials  UpstreamRisk: Scarcity of raw materials has the potential to increase procurement costs in the medium-term to long-term.See how we are developing our circularity prac-tices in procurement on page 83.IRO 12: Waste generated Own operations Negative impact: Non-recyclable waste generated at our manufacturing facilities and service centres can cause emissions generated from waste handling, increased demand on land for landfills, and pollution to air, water and soil.See how we work to reduce waste on page 83-84.IRO 13: Product design &amp; refurbishmentDownstreamPositive impact: Product designs enable increased circularity opportunities for our customers. See how we are optimising product design on page 84-86.IRO 14:  Sales of services (spare parts &amp; maintenance)DownstreamOpportunity: Growing sales in circularity offer-ings, such as recycling, spare parts, maintenance services and digital solutions, provides financial opportunities. See our service-centric business strategy on page 17-19. Impacts, risks and opportunitiesIRO Actual Potential – + ! Time horizon10  Virgin raw materialsMedium-term11  Sourcing of materialsMedium-term12  Waste generated Short-term13  Product design &amp; refurbishment Short-term14   Sales of services  Medium-term(spare parts &amp; maintenance)Location in the value chain:     Upstream   Own operations Downstream Impact, risk and opportunity:  —   Negative  +  Positive Opportunity  !  RiskCircularityPolicies UpstreamIRO 10 &amp; 11: Our Environmental policy outlines the commitment to increase the sourcing of recycled materials to transition from virgin resources. In our supplier code of conduct we state our expectation for our suppliers to identify their environmental impacts and minimise adverse effects on the community, environment, and natural resources, while safeguarding the health and safety of the public.Own operationsIRO 12: Our Environmental policy outlines the commitment to reduce waste in our operations, prioritising reductions of hazardous waste, and applying the waste hierarchy principles (with waste prevention being top-priority and sending waste to landfill as the last resort). DownstreamIRO 13 &amp; 14: Our Environmental policy outlines the commitment to develop solutions to improve circularity in the mining processes. This included better separation technologies to optimise recovery of metals and technologies reducing the amount of water required for mineral processing as well as increasing recycling of the water that is used. We are also committed to improve tech-nologies to reprocess and extract minerals from old waste, where economically viable, and to apply the principles of circularity to our products. This includes designing products to be durable, repairable, modular, lightweight, and recyclable, including considerations on design for disas-sembly and material selection. Additionally, the policy includes our commitment to keep our prod-ucts in use for as long as possible and extending the lifetime through digital monitoring, predictive maintenance, reconditioning, repairing, refurbish-ment, and remanufacturing.See more details on our Environmental policy on page 64.  How we are taking action Upstream: IRO 10 &amp; 11: To reduce our negative impact from the procurement of virgin raw materials, we are working on increasing our share of purchased recycled raw materials such as scrap steel. We consider extended product life in product design, leading to reduce materials needed throughout the entire lifecycle of our products (material efficiency), including those used in repairs and upgrades.Additionally, we optimise the shape and size of components and lightweighting products. See examples on page 85. Resource inflows2025 2024Total weight (tonnes) 1,299,168 1,074,3 0 5% of biological materials 0% 0%which are sustainably sourcedRecycled content (abso-713,949 286,072lute, tonnes)Recycled content (%) 55% 27%Own operations:IRO 12: Our Environmental Management System, which is ISO 14001 certified (See page 64) includes waste generation among environmental consid-erations. We manage waste in accordance with the waste hierarchy. Waste management at all facilities prioritises, where feasible, reuse or recovery, aligning with the commitments outlined in our Environmental Policy. Waste management is handled outside our sites by authorised third parties. We have implemented various actions and annual initiatives as part of our waste reduction roadmaps. These include developing guidelines for waste segregation and analysing global waste data based on various disposal types. An example of an initiative to avoid waste generation, sand used during certain processes at our Indian facility is reused several times before being sent to landfill. §  Accounting policiesTotal weight Purchased goods and services are estimated annually using amounts of procurement costs in relevant spend categories. Spend categories are assigned estimates of the composition of raw materials which enables spend to be allo-cated to raw materials. These material specific spend weightings estimations are provided by internal supply chain experts. Weightages are then calculated using traded commodity prices and spend data to determine the weights of raw materials. Packaging was estimated separately using sample data from a packaging supplier.The percentage of biological materials which are sustainably sourced  Conservative as FLSmidth does not have information on certification schemes used by suppliers.Recycled content Recycled content is estimated based on moni-toring of scrap steel and assuming no recycled content in any other material types. Percentage of recycled content is a percentage of total weight. A sample of packaging material data was obtained from a supplier and scaled up to repre-sent all FLSmidth packaging.Continuing Waste by activities material2025 2025 2024Metal 48% 48% 42%Mix waste 18% 18% 20%Water waste 0% 0% 13%Dusty and powdery waste 15% 15% 9%Wood 11% 11% 7%Other 9% 9% 8%§  Accounting policies The total amount of waste generatedMeasuring the total amount of waste generated, as well as waste broken down by recovery and treatment type, is based on invoices, supplier reports or local logbook registrations, and is collected monthly for all entities within our financial control. When information is unavailable, entities estimate values based on calculations of waste density and volume.Share of waste recycled (%)Percentage of all waste that has been either reused or recycled. Incinerated waste is not included in this figure.Waste by material Percentage of waste by main material groups.Another example at our facilities in Welshpool and Henderson, Australia is an initiative to reduce general mixed waste sent to landfill and instead send the waste to a nearby waste-to-energy plant. Reduction in waste generated is driven by a reduc-tion in our global footprint, with the percentage of materials being recycled increasing to 65% in 2025. This is in line with our objectives to reduce waste being sent to landfill. Downstream:IRO 13 &amp; 14: By increasing the volume of resources undergoing circular flows in mining sites, we can make significant contributions to the transition to a circular economy in the places where we have presence.Our products are designed for long-term use with a focus on durability, retrofitting, life extension, upgrades, and replacement of parts that are designed to wear down rather than the whole product wearing down. Our company strategy has a strong focus on our Service business which is aligned with keeping our products in use for as long as possible. This positive development may nonetheless have an unintended effect on our Scope 3, Category 11 emissions, since longer product lifetimes increase the total calculated use-phase emissions. CircularityResource outflows Continuing activities Waste generated2025 2025 2024The total amount of waste generated 14,203 14,540 15,189Hazardous 516 532 573Non-hazardous 13,687 14,008 14,616Total recovered 9,241 9,443 9,596Total non- recovered 4,973 5,097 5,593Share of waste recovered (%) 65% 65% 63%Share of waste non- recovered (%) 35% 35% 37%Recovery operation type 9,241 9443 9,596Reuse 322 336 879 Hazardous 36 36 7 Non-hazardous 286 300 872Recycle 8,919 9,107 8,717 Hazardous 175 175 376 Non-hazardous 8,744 8,932 8,342Other recovery operations 0 0 0Waste treatment type 4,973 5,097 5,593Total incineration 108 149 377 Hazardous 38 50 26    Incineration (with energy recovery) 17 19 24 Non-hazardous 70 98 351    Incineration (with energy recovery) 33 62 272Landfill 4,865 4,948 5,216 Hazardous 267 271 165 Non-hazardous 4,598 4,678 5,052Other disposal operations 0 0 0CircularityWe work to integrate circular economy principles in the different phases of our product's life cycle.Working with circularity includes many stake-holders. We aim to engage and train employees on circularity principles and practices. Further-more, we partner with suppliers and customers on projects related to the circular economy to develop circularity practices across the value chain.Durability of products in 2025 has remained unchanged, in line with expectations given our product portfolio has not changed materially.We design products to be durable, repairable, modular, lightweight, and recyclable, also consid-ering design for disassembly and material selec-tion. Our roll crushers are examples of material efficiency as they are 30% lighter than conven-tional hard rock primary crushers. Two other examples include our vertical fine grinding mills, which are designed with fewer wear parts and our column flotation cells, manufactured from a composition of highly wear-resistant materials.To keep our products in use for as long as possible, we offer services to extend their lifetime such as digital monitoring, predictive maintenance, recon-ditioning, repairing, refurbishment, and remanufac-turing. As an example, we can extend the service life of our High-Pressure Grinding rolls up to 30%.   When our products can no longer be used, we aim for the materials to be recycled. Beyond the design principles, this may include technology to separate different materials or the provision of logistics where products are not usually recycled through the local market.We consider our Service Centers as catalysts of the circular economy, as they are strategic facili-ties designed to provide comprehensive support in the maintenance, repair, and improvement of industrial equipment and components. Within the framework of the circular economy, these centers play a fundamental role by implementing practices aligned with the key "R" principles: repair, reuse, refurbish, recycle, and reduce.In 2025, we launched the new FLSmidth mill liner recycling service offering in Antofagasta, Chile. The comprehensive recycling solution for composite and rubber grinding mill liners will serve customers across South America, avoiding mill liner waste being sent to landfill. This results in carbon emissions savings of up to 61% compared to producing the mill liners from virgin materials. We have a Rebuild and Exchange programme for pumps, cyclones and valves, which enables the reuse of metal parts that would otherwise go to waste. In addition, we have also run a successful steel reuse and recycling programme  for several years in Melbourne Australia related to our ABON mining products , a result of a collaborative rela-tionship with our customers, steel suppliers and foundries.The programme includes recovering and recycling steel offcuts and machine turnings from the manufacturing process and recycling unservice-able, worn teeth and shafts from refurbishments. A refurbishment usually produces unserviceable parts that need to be disposed of. Instead of these parts ending up as waste, they are reused by one of our steel suppliers.We also support our customers with machine and shaft refurbishments, enabling them to prolong asset lifetime. Providing this service ensures we stay in touch with our customers’ needs. In addi-tion to the circularity aspects, the programme helps us gain deeper understanding of how our customers use our products. This means we can maximise performance or redesign to suit customers’ specific needs in the refurbishing process.CircularityResource outflowsDurability of Products Repairability of ProductsBy product groups 2025 2024 2025 2024Comminution 100% 100% B BSeparation and classification 100% 100% B BPumps, cyclones, and valves (PCV) 120% 120% A ADewatering and filtration 100% 100% B BOther products 100% 100% B BRecylabilityRecyclable content in products and packaging 97% 93%§  Accounting policies Durability of products: Durability is measured as an estimate by comparing FLSmidth products to industry averages represented as 100%. Conserv-ative estimates have been applied which puts most FLSmidth products as equal compared to the industry average. Due to our public case studies on the pumps, which show the longer life of the wear parts, we have put the PCV category as being 20% more durable than the industry average as an indica-tive value of increased durability.Repairability of products:  A rating scheme was adapted from the EU Joint Research Committee (JRC), originally for smartphones and tablets (https://susproc.jrc.ec.europa.eu/product-bureau/product-groups/447/home). This scheme takes the scores from six product parameters and aggregates them into a final rating of A–E, with ‘A’ being the highest score. FLSmidth’s adaptation of the model relates to the ‘software update (duration)’ parameter which is not relevant for FLSmidth products. Recyclability content in products and pack-aging: Recycled rates are estimated based on the possibility of recycling, not on the actual amount recycled. Procured raw material data is sourced from the Inflows ‘Total Weight’ KPI. Estimates of the recyclability of raw materials are applied to each raw material category to determine the estimated recy-clability of outflows. A sample of packaging material data was obtained from a supplier and scaled up to represent all FLSmidth packaging. The current estimates for both raw materials and packaging are derived using methodologies developed and applied by internal supply chain experts, who assess mate-rial composition, recyclability potential, and supplier information to produce the final estimates.TargetsUpstreamIRO 10 &amp; 11: Additionally to our target of 30% spend on suppliers with science-based targets (See page 68-69), we aim to integrate circularity principles into our purchasing decisions for both product materials and packaging, including using suppliers who match our goals.  Own operationsIRO 12: We have set voluntary targets for reducing landfill waste related to reducing our use 12of resources. We aim to reduce landfill waste by 50% by 2030 from a baseline year of 2022 through more waste segregation as well as material efficiency, reuse, recovery and recycling of waste generated.DownstreamIRO 13 &amp; 14: In addition to our 2030 target to reduce the economic intensity of emissions by 56% against a 2019 baseline (See page 69), which is partly supported through circular economy practices, we have set targets for our products and services to be further utilised in the following key areas to improve the circularity of the mining industry.Optimised recovery: better separation technol-ogies allow for a higher percentage recovery of metals, meaning that less mining needs to occur to produce the materials we need. Making the most out of the mined rock by extracting more of the minerals and metals which would otherwise be rejected as waste is also possible. These can be encouraged through improved technology and collaboration with other stakeholders.  Lowering water consumption: this broadly relies on reducing the amount of water required for mineral processing as well as increasing recycling of the water that is used. Our product and service portfolio includes technologies that covers both dry grinding, coarse floatation, and dewatering processes which allow for the reuse of water, instead of it ending up in tailings storage facil-ities. This already occurs in some sites, and we are collaborating with the industry on developing more mineral processing flowsheets with similar reductions in water consumption.  Reprocessing of tailings (waste rock): with ore grades in decline, some tailings storage facilities contain higher concentrations of minerals than what is being extracted from new mines. With improving technologies, this provides an oppor-tunity to reprocess, and extract required minerals from old waste, where economically viable.SocialAs a global business we want to address global social issues through initiatives that promote diversity, equity and inclusion and ensure fair labour practices across our own operations and our supply chain. Own workforceOur people are essential to supporting our busi-ness ambitions and remaining competitive in the global marketplace.The interests, views and rights of people in our own workforce inform our strategy and business model through worker representation in our Board of Directors. As our business needs evolve, some areas of our own workforce might be significantly impacted, while new opportunities and growth emerge in other areas.Our workforce includes both direct and indi-rect employees, and non-employees including sub-contractors and contingent workers supporting us on specific projects.IRO 15: Working conditions Negative impact : Mining is an evolving industry and to meet the needs of our customers there is oftern a need of mergers, acquisition and divest-ments. This is often leading to company-wide organisational changes. These transitions can create short-term job insecurity. As we right-size our business, some employees may also experi-ence an increased workload. Positive impact: We want to ensure that our employees receive an adequate living wage. This would have a particularly positive impact in regions with fewer safeguards for employee rights. Flexible working arrangements and inclu-sive family leave opportunities also support a healthier work-life balance for our employees. IRO 16: Equal treatmentPositive impact: We have the potential to improve the social standing and quality of life of our female employees by consistently working to close the gender pay gap and ensuring fair, comparable wages across our workforce. At the same time, we can enhance employment opportunities for underrepresented groups. Our large global foot-print and diverse workforce foster cultural aware-ness and inclusivity, resulting in more satisfied and engaged employees. IRO 17: Talent attraction &amp; retentionRisk: Negative impacts related to working condi-tions and a lack of proper employee training and development may increase the risk of attrition and safety hazards. This can lead to a loss of business knowledge and reduced operational efficiency, ultimately affecting the ability to execute on strategy.IRO 18: Health &amp; SafetyNegative impact: Our own workers and contrac-tors are exposed to safety risks, which can cause incidents affecting health and wellbeing.Read about how we handle our impacts and risk on page 93-100.Impacts, risks and opportunitiesIRO Actual Potential – + ! Time horizon15  Working conditionsShort-term16   Equal  treatmentShort-term17  Talent attraction &amp; retentionMedium-term18  Health and safetyShort-termLocation in the value chain:     Upstream   Own operations Downstream Impact, risk and opportunity:  —   Negative  +  Positive Opportunity  !  RiskOwn workforcePoliciesWe have various policies covering the entire workforce which, together, establish a global framework for managing our material IROs related to our own workforce. As part of this, we have recently updated our Human Rights Policy to further strengthen our commitment to fair, safe, and respectful working conditions.We respect all rights enshrined in the following frameworks: the UN Universal Declaration of Human Rights; the International Covenant on Civil and Political Rights; the International Covenant on Economic, Social and Cultural Rights; and the International Labour Organisation’s Declaration on Fundamental Principles and Rights at Work. These address the rights to freedom of association and the effective recognition of the right to collective bargaining; the elimination of all forms of forced labour; the effective abolition of child labour and trafficking of humans; the elimination of discrimi-nation in respect to employment and occupation; and a safe and healthy working environment.We commit to align our policies and due diligence processes with the United Nations Guiding Princi-ples on Business and Human Rights (UNGPs) and OECD Guidelines for Multinational Enterprises.IRO 15 &amp; 17: Our People Policy guides our approach to supporting our people agenda. Our Human Rights Policy outlines our commitment to respecting our own workforce and value chain workers’ rights. Our Working Hours Policy guides us in creating fair and safe employment conditions by defining maximum limits on the maximum dura-tion of the normal workday in accordance with international standards.15IRO 16: Our Diversity, Equity and Inclusion Policyestablishes our commitment to promoting people’s agenda and our Remuneration policy includes, among its principles, a strong focus on pay equity regardless of gender or other employee diversity criteria focusing on an inclusive agenda. Our Harassment and Discrimination Prevention Policy sets out our approach to creating a safe, healthy and productive working environment. As members of the UN Global Compact, we have committed to the Diversity Pledge with the Confederation of Danish Industry. In 2025, our bereavement policy was also strengthened with the introduction of a global minimum standard.IRO 18: Our Health, Safety and Environment Policy outlines our commitment to zero harm by empowering employees and contractors to safeguard their own health and safety, as well as that of others, building a strong safety culture and embedding safe behaviours through visible lead-ership, employee engagement and open dialogue. As outlined in our Environmental policy, we are committed to identify and implement actions to prevent and control adverse health and envi-ronmental impacts of hazardous substances or materials (i.e. resulting from uncontrolled spillage), including emergency situations, and corrective actions in the event of accidents.The Chief People Officer and Global Business Services, EVP is responsible for implementation of these policies, except the Harassment and Discrimination Prevention policy where the Legal and compliance department is responsible for implementation. We provide information or training in matters relating to these policies to employees.Processes for engagementEmployee perspectives on potential impacts are continuously gathered through a range of engagement activities, including quarterly engagement surveys, quarterly townhalls with question-and-answer sessions and roundtable discussions with senior management. Leaders within the organisation are also expected to engage regularly one-on-one with their direct reports to foster strong, supportive collabora-tions, cascade communications and be a first point of contact should issues arise. Our employee representatives also serve as liaisons effectively addressing and elevating concerns within the broader workforce. We main-tain collective bargaining agreements, ensuring that a portion of our workforce is covered by negotiated terms and conditions of employment.  These agreements reinforce our commitment to respecting freedom of association and the right to collective bargaining as outlined in our policies. See coverage of collective bargaining agreements on page 94.The Health &amp; Safety governance bodies, such as Work Environment Organisation, are also employee representative bodies where they can exercise their participation and consultation rights regarding health and safety.In 2025, we changed from monthly to quarterly employee engagement surveys as a direct result of employee feedback. The employee engage-ment surveys gather employees’ views on key engagement drivers such as growth, freedom of opinion, reward, and workload, as well as health and wellbeing, including mental, social, and physical wellbeing, organisational support, and diversity and inclusion. The objective of these surveys is to inform and shape the development and implementation of policies and initiatives through specific action plans. The survey includes a focus on gaining insights into the perspectives of vulnerable and marginalised groups within our workforce, specifically addresses diversity, equity and inclusion (DE&amp;I) by measuring employees' Own workforceperceptions of inclusiveness, diversity and non-discrimination. The results of the surveys are monitored and discussed by senior leaders and the Board of Directors to ensure that employee feedback is effectively addressed. In 2025, the average employee engagement score from our quarterly surveys was 7.8 out of 10. We will take targeted actions informed by survey feedback to continue enhancing this score. Responsibility for employee engagement resides with the individual managers, with oversight from the Chief People Officer and Global Business Services, EVP.Our policies include guidance and specific proce-dures to prevent discrimination. We also encourage employees to speak up about any concerns they may have, including through our grievance mecha-nisms. Employees can contact workers’ represent-atives or trade unions to resolve any incidents, as well as to manage other needs.We have a procedure for notification, investiga-tion, reporting and review of all incidents, also applicable to contractors. This includes corrective actions, sharing lessons learned, conducting effectiveness reviews and documentation of the results. By systematically addressing and learning from incidents, we commit to proactive risk management and continuous improvement in operational excellence. Employees and third parties can raise concerns directly related to our business through our griev-ance mechanism. To ensure effectiveness , we communicate about them through our company website and internal communications and regu-larly assess and promote awareness of the chan-nels. All workers can access these channels, via our website, email and mail which are managed by a third-party provider which tracks and registers all admissible cases. From this information, we are able to continuously assess and update appro-priate procedures in order to ensure effective mitigation actions. See more on our remediation processes and grievance mechanisms on page 110-111. How we are taking actionThe actions taken to mitigate negative impacts and risks and pursue opportunities within our own workforce is embedded in the responsibility of management at every level and across all func-tions. We dedicate resources from legal, people and sustainability, communication and other functions to support these efforts, ensuring  the wellbeing of our people, which is at the core of everything we do. IRO 15: Working conditionsWe are carrying out the pure-play business trans-formation (see page 17) to address changes in our business sectors and improve how we respond to customers’ needs. As part of this process, we have continued with workforce adjustments to ensure alignment. We value employee wellbeing and have taken steps to support those affected. We have maintained transparent communication and regular engagement with our employees through various channels. To ensure the effec-tiveness of our communication, we hold dedicated roundtable discussions with employees and we track engagement and satisfaction through quarterly surveys and feedback following the townhalls. We are focused on retaining talent and maintaining operational efficiency.Own workforceSecure employmentWe strive to be an employer that fosters secure employment. We have a structured governance framework for dismissal processes to ensure fairness; we have time tracking systems to ensure working time is captured accurately; and we offer opportunities for internal mobility where available.During 2025, headcount has fallen by 29% due to right-sizing of the business and large company divestments. Company divestments account for 21% points of the 29% reduction (See page 95-96). Right-sizing activities continued into 2025, which resulted in a high turnover rate, but lower than 2024 when our right-sizing activities was initiated. We continue to invest in our people through competitive pay and benefits as well as growth and development opportunities. Non-compen-sation flexible benefits vary within countries and include contributions to pension schemes, employee assistance programs or health care coverage (medical insurance) among others.Work life balanceFamily-related leave is available to 100% of employees and in alignment with local standards.See more on page 95. We offer flexible work options, including remote work arrangements and adjusted hours when possible. Managers engage with their teams and individuals to inform them of our various offerings. Effectiveness of our initiatives is monitored through our engagement surveys.Adequate wages We analyse living wages across all geographies on an annual basis, ensuring all our workers are paid an adequate and fair wage. As of 2025, the majority of our employees, above 95% of headcount, earn a living wage as defined by the Living Wage Insti-tute, while those who do not still receive compen-sation that exceeds the state-defined minimum wage. Our standardised job catalogue supports an objective, market-based approach to setting salary ranges, ensuring adequate and competitive wages. Terms negotiated in collective bargaining agreements are respected and integrated into our compensation framework. A specialist team is focused on implementing benefits and employment packages to help ensure equity.  In 2025, 10% of our workforce was covered by collective bargaining agreements. We ensure that all employees, regardless of union representation, benefit from equivalent protec-tions through our global policies and practices all of which apply consistently across the organ-isation. Base salary is reviewed in the hiring and annual salary review processes, all of them based on position, person, performance and other objec-tive factors. In 2025, we continue to focus on processes related to pay equity, ensuring different roles that provide equal value to the company are compensated at same levels. Focus areas include, gender equity and employees in lower quartile salary segments.IRO 16: Equal treatmentTalent acquisition includes various dimensions of diversity, such as gender, age, nationality, location and personality profile, to achieve a balanced work-force. Our global standard processes for talent acquisition promote equal opportunities, treating all candidates fairly and minimising unconscious individual biases in hiring decisions. As an example, to support this process we recommend the removal of non-relevant personal data from CVs, such as pictures, date of birth or gender.  Additionally, we encourage internal candidates to pursue job oppor-tunities as part of their growth within the company. We also ensure panel interviews are conducted with multiple stakeholders to minimise bias. Another key focus area is development and reten-tion, with initiatives including a mentoring program by senior leaders, internal rotation opportunities; industry networking; implementing long-term development plans for critical  talent, and; coaching leaders on applying engagement insights. Our global DE&amp;I Council facilitates initiatives and conversations across the organisation to accelerate change. We continue to participate in industry initiatives such as “Women in Mining” and “Women in Tech”. We have a network focusing on promoting the wellbeing of women in our manufac-turing facilities, which invites participants to learn from each other and provide inspiration to enable the professional growth.Our rewards team continues to bridge the gender pay gap and evaluate progress through a yearly analysis. We recognise that unconscious bias can create structural challenges in achieving pay equity. Therefore, we place strong emphasise on the importance of accurate data to identify effective actions. We are working on refining our methodologies and actions to strengthen our performance in this critical area. We track the effectiveness of our DE&amp;I initiatives through quarterly reporting of quantitative metrics and qualitive responses in our engagement surveys. Due to significant reduction in our shared func-tions, where we have historically had a higher weight of woman than in the business lines, the reduction in workforce has meant a higher reduction of women than men related to diver-sity in top management. When looking at female employees in general we did not meet our 2025 targets, however we ensured better performance for women in white collar and blue collar positions as well as managers compared to 2024. We will continue to have high focus on these KPIs.Own workforceCharacteristics of our workforce2025 2024Non- Worker type by head count Female Male Other Non-disclosed total Female Male Otherdisclosed totalTotal number of employees 1,146 4,341 0 7 5,494 1,630 6,107 0 2 7, 7 3 9   of which permanent  1,076 4,213 0 7 5,296 1,539 5,927 0 1 7, 46 7   of which temporary 67 107 0 0 174 88 121 0 1 210   of which non-guaranteed 3 21 0 0 24 3 59 0 0 62Non-employees 178 192Total workforce 5,672 7,931leave includes maternity leave including adop-tion; paternity leave for fathers or equivalent second parents, on the occasion of the birth or adoption of a child; carer’s leave to provide personal care or support to a relative, or a person who lives in the same household, in need of significant care or support for a serious medical reason. Total number and %.Percentage of employees who took family-related leave Measured as the percentage of total employees who took family-related leave during the reporting period, based on HR leave records. This KPI also includes a gender-specific break-down, showing the percentage of women (out of total women) and men (out of total men) who took family-related leave.Number of employees by headcountCountries with over 10% of workforce 2025 2024USA 978 1,443India 987 1,520Chile 700 751Total number of own employee terminations 2025 2024Total terminated employees 1,724 2,575Turnover rate 26% 30%Work-life balance  2025Employees entitled to take family-related leave 100%Percentage of employees who took family-re-lated leave 6%   of which women 10%   of which men 5%§  Accounting policies Total number of employees Total employees are all employees who are hired by FLSmidth, are paid through the company’s payroll and are active as of the date of the report including those on gardening leave.  Employees include both permanent employees and temporary employees. Total number of employees is collected through FLSmidth’s People management system. Perma-nent employees are employees on long-term contracts. Temporary employees on temporary contracts include interns and apprentices and those on fixed term contracts. Non-guaranteed hour employees include casual workers. Total employees are calculated using a headcount, rather than FTE, method. Total workforce include both employees and non-employees.Non-employeesNon-employees include all contingent workers who are not part of the FLSmidth payroll.Total terminated employees Measured as the total number of employees who have left the organisation during the reporting period, either voluntary or non-vol-untary. Excludes employees currently on gardening leave and non-employees. Turnover rate Measured as a percentage, calculated as the total number of terminations divided by the average employee headcount at the beginning and end of the reporting period. People leaving due to a divestment is not considered a termi-nation.Employees entitled to take family-related leavePercentage of employees eligible for fami-ly-related leave in accordance with applicable legislation and company policy, as recorded at year-end in HR data systems. Family-related Own workforceDiversityAge distribution 2025 2024Under 30 years old 746 (14%) 861 (11%)30-50 years 3,291 (60%) 4,642 (60%)Over 50 years old 1,347 (25%) 2,092 (27%)Not disclosed 110 (2%) 144 (2%)Pay equity 2025 2024Gender pay gap ratio  18% 12%Pay equality ratio 40 39Management breakdown  2025 2024Total top management 9 11   of which women 2 (22%) 2 (18%)   of which male 7(78%) 9 (82%  of which not disclosed 0 0Total top management including  extended management 46 65   of which  women 4 (9%) 14 (22%)   of which male 41 (89%) 51 (78%)   of which not disclosed 1 (2%) 0Head count by job category  2025 2024White-collar 3,985 6,023Blue-collar 1,509 1,716Employees 5,494 7, 73 9Female employees* 2025 2024* Target 2025 Target 2030White collar (%) 30.0 30.4 30.4 30Blue collar (%) 7.6 6.2 8.7Managers (%) 16.0 15.7 19.5 25Women total (%) 20.7 20.9 22.9 25Management breakdown FLSmidth defines Top Management as the first two level in the organisational hierarchy with manager responsibilities, with the first level being the Group CEO.  Extended Management include the third level in the organisational hier-archy with manager responsibilities. Excludes non-employees and is presented in headcount.The share of management levels broken down by each gender as number and percentage.  White-collar (%)Measured as the percentage share of women in white collar positions (excluding employees with management responsibilities), based on a 12 month rolling average within the reporting period. White collar roles are defined as positions primarily performing professional, managerial, or administrative work. Non employees are excluded.Blue-collar (%)Measured as the percentage share of women in blue collar positions (excluding employees with management responsibilities), based on a 12 month rolling average within the reporting period. Blue collar roles are defined as positions primarily involving manual labour, including manufacturing and warehouse operations. Non employees are excluded.Managers (%)Measured as the percentage share of women among all managers, based on a 12 month rolling average within the reporting period. Employees must have at least one direct report to be classi-fied as managers. Non employees are excluded.Women total (%)Measured as the percentage share of women among all employees, based on a 12 month rolling average within the reporting period. Non employees are excluded.§  Accounting policies Age distribution Measured based on information voluntarily provided during the onboarding process and determined using employees’ dates of birth. Total number and %.Gender pay gap ratioThe difference of gross average hourly pay levels between female and male employees, expressed as percentage of the gross average hourly pay level of male employees. Excludes non-employees.Pay equality ratioThe difference between the annual total remu-neration ratio of the highest paid employee and the median annual total remuneration for all employees (excluding the highest-paid employee). Excludes non-employees.Own workforceViolence and harassmentWe enforce zero-tolerance towards any form of violence, harassment or discrimination, ensuring that any such incidents are dealt with seriously through our internal investigation procedures. We conduct regular training on compliance and human rights topics, such as violence and harassment, to ensure employees are informed and guided to identify and act when potential violence or harassment is experienced either for oneself or a colleague. We closely monitor and assess the effectiveness of our policies and actions through periodic harassment surveys.No severe human rights issues and incidents have 16been reported during the year.110 investigations were opened in 2025, 77 of these were substantiated and 42 were harass-ment cases. To increase awareness of matters related to harassment, we will continue offering harassment prevention workshops for both existing and new employees.  IRO 17: Talent attraction &amp; retentionWe apply a structured approach to performance and development reviews to ensure clarity of objectives, alignment with our strategy and a proactive stance on development planning. This process applies to all employees and contin-gent workers. Development dialogues include identifying individual skill gaps and creating Incidents 2025 2024Total number of incidents of discrimination, including harassment 42 40§  Accounting policies Total number of incidents of discrimination, including harassment Includes total number of reports on discrimina-tion and harassment submitted to FLSmidth’s Compliance department through the formal whistleblower hotline or by other means, such as email, letter or in person.tailored plans to address gaps through various development and training opportunities. These are supported by a global learning management system, enabling us to build a learning organi-sation where every individual dedicates time to training, with progress actively tracked. In 2025, we conducted more “Leading in FLSmidth” leadership development programmes focusing on operational managers.DE&amp;I topics are included in leadership training programmes. We are developing a pipeline of women leaders and promoting opportuni-ties through our ongoing sponsor and mentor 17Employee reviews2025 2024Employees participating in performance/career development reviews  6,678 7, 5 5 4   of which other gender employees 0 0   of which female employees 1,343 1,492   of which male employees 5,333 6,062   of which not disclosed 2 0Employees participating in performance/career development reviews  (%) 87% 86%   of which other gender employees (%) 0% 0%   of which female employees (%) 85% 84%   of which male employees (%) 88% 87%   of which not disclosed 29% 0%FLSmidth adjusted participation 98% 96%Training 2025 2024Training hours per employee and gender 7,9 74 21,641   of which female employees 2,283 5,289   of which male employees 5,691 15,862Training hours per employee and gender (rate) 1.2  2.5   of which female employees 1.6  3.0   of which male employees 1.1  2.317  The number of employees participating in performance/career development reviews is higher than the total number of employees reported, due to the fact that the headcount used for the employee performance KPI is taken as of the end of March 2025.Own workforceprogrammes, as well as encouraging women talents to join leadership training programmes.More generally, we offer training courses both via e-learning and through live and in-person sessions. These cover a wide array of topics to upskill and empower our workforce in their career development. We monitor the effectiveness of our policies and actions through engagement surveys and periodic reviews in committees. Partnering with universities is vital to attract top talent and foster innovation. This also helps us to understand the expectations and perspectives of potential future employees. This year, FLSmidth sponsored BRIMM - University of British Columbia to teach a Micro Certificate in Economic Leader-ship in Mining. The training provided education for leaders in the mining space in Pakistan and empowered them with a common global under-standing of how challenges and opportunities within the industry are being addressed.Our FLSmidth adjusted participation increase in 2025 as we continue to focus on robust annual processes, managed in our People management system. This ensures employees in scope for personal development reviews complete the review with their manager.Training hours per employee has dropped in 2025 and has been impacted by the reduction in work-force over the year.§  Accounting policies Employees participated in performance/career development reviews Percentage of employees who participated in an end-of-year review divided by total employee headcount. Headcount is taken at the end of March in the current reporting year and reflects employee performance of the previous year.FLSmidth adjusted participationThe percentage of eligible employees who participated in an end-of-year review divided by total employee headcount. FLSmidth provides an adjusted measure of employee performance development as only permanent employees and temporary employees categorised as “apprentice/ trainee” are eligible for end-of-year reviews. Headcount is adjusted to reflect these sub-groups and is further adjusted to exclude those on gardening leave; those soon to retire, and employees with less than three months of employment before assessment. Headcount is taken at the end of March in the reporting period.Training hours per employee and gender The number of hours spent on learning programmes as an average across employees. This includes both digital and blended (face-to-face) courses. The figure includes hours accumulated throughout the year. Hours from terminated employees are included in the total number. Total hours is divided by the average employee headcount during the period, which is the average between the start and end of the reporting period.Own workforceIRO 18: Health and safetyWe have a Health and Safety Management System certified according to ISO 45001. This system is implemented in all our operational sites. It includes regular health and safety risk assessments and actions to prevent and mitigate risks, emergency procedures for employees in case of accident or injury, training, mechanisms for all employees and contractors to report on occupational health and safety incidents, risks, and concerns. Incident Review Board reviews major injuries monthly to monitor effectiveness of corrective actions implemented.We have defined our Safety Cardinal Rules as an expected set of behaviors, leaders of our business must ensure they are checking our operational tasks not only for compliance but to see that our people understand and are putting in place controls to prevent fatal and serious injury (FSI) type incidents and injuries.During 2025, our rate of work related accidents remained unchanged at 2.3 incidents per million working hours; whereas our rate of days lost to work related accidents fell to 0.7 per million working hours. Despite being behind our 2025 targets, this represents a positive long-term trend in both measures. Health and safety remains a core focus area within the organisation as we strive towards our aspirational target of zero-harm.§  Accounting policies Rate of recordable work-related accidents, including contractors Rate of recordable work-related accidents is calculated as the number of recordable work-related accidents per one million hours worked. Includes non-employees and sub-contractors.*Number of recordable work-related accidents, including contractors Number of recordable work-related acci-dents include fatalities, lost time injuries (LTI), medically treated injuries (MTI) and restricted work cases (RWC). Number of recordable work-related accidents is calculated as the number of accidents per one million hours worked. Includes non-employees and sub-contractors.*Rate of days lost to work-related accidents, including contractorsRate of days lost to work-related acci-dents as the number of lost-time injuries (LTI) and fatalities per one million hours worked. An LTI accident results in absence for more than one scheduled workday following the day of the accident. Includes non-employees and subcontractors*. Number of fatalitiesA fatality is defined as the death resulting from a work-related incident or exposure. This includes fatalities occurring in the workplace or fatalities resulting from injuries or illnesses contracted at the workplace. Percentage of people in own workforce covered by health and safety management systemFLSmidth’s Health and Safety reporting management system covers all people in its own workforce. The number is shown in %.ContinuingactivitiesTargetTarget Safety 2025 2025 202420252030Rate of recordable work-related accidents, including 2.3 2.3 2.3 1.0  Zero harm contractorsNumber of recordable work-related accidents, including 38 43 50  Zero harm contractorsRate of days lost to work-related accidents, including 0.8 0.7 1.0 0.5  Zero harm contractorsNumber of fatalities 0 0 0 Zero harmPercentage of people in own workforce covered by health and safety management system 100% 100% 100% Zero harm*   Subcontractors’ working hours are calculated based on actual hours reported by suppliers, hours written in tenders or actual/estimated hours for suppliers. Working hours for FLSmidth employees are calculated based on headcount and normal working week hours.Own workforceIn 2025, we have continued to encourage a culture of open dialogue about safety practices with our Manager's Safety Walk Programme and we have launched the second annual, 2025 FLSmidth “Ergo Cup” competition, a platform where employees are invited to share best practices and employ-ee-driven innovations in ergonomics. Based on the analysis of previous injury trends, we launched the global hand safety campaign ‘Protect Your Hand, Protect Your Future.’ The campaign not only engaged employees through workplace activities but also extended to their families, reinforcing safety awareness beyond the workplace.We have a safety observation programme, Go Look See, aimed at increasing awareness of day-to-day safety issues and reducing safety incidents at our warehouses and manufacturing sites.We perform mental health and ergonomic risk assessments through employee surveys and actions including informative resources and communication campaigns. Annual medical health checkups are provided to all direct employees and to some indirect employees or any colleague requiring a fit for duty examination before reporting for work.In 2025, we also participated in social activities in some of our operational regions supporting the health and wellbeing of men and women.Building on the new HSE Compliance Audit initia-tive, we aim to further harmonise safety practices and create a greater impact in several key areas. Our efforts include boosting leadership engage-ment through our Safety Walk Programme, with the deployment of leader toolkits designed for effective Safety Conversations and Recognition. We are committed to learning from audits and embedding our Safety Cardinal Rules, as well as launching learning reviews from sites with lower incident rates to identify best practices. Addi-tionally, we will monitor and enhance the response rate to the Go Look See programme to ensure that safety concerns are addressed more sustainably. Targeted action plans will also be implemented, focusing on corrective actions and site-specific campaigns to drive continuous improvement in safety performance.We also extend our safety approach to our prod-ucts. Our employees install and comission where this can play a major impact. See more information about designing our products for safety on page 104-105. TargetsTargets on diversity and gender equality and health and safety have been set to track the effectiveness of our actions. We have set an aspirational target of zero harm in 2030 and we aim to reach 25% women in our total workforce, 30% white collar female employees and 25% female managers by 2030. To ensure that we are in progress to meet our 2030 targets we have set annual targets to measure our performance and to identify the effectiveness of our actions.These objectives are based on our own perfor-mance as well as that of industry peers and reflect management's ambitions to mitigate negative impacts and risks and foster positive impacts and opportunities.Workforce representatives are involved in tracking performance against our targets through quarterly presentation of results to all our employees and through publicly available quar-terly reports. Workers in the value chain FLSmidth is a signatory to the United Nations Global Compact and is guided by the United Nations Guiding Principles for Business and Human Rights and the OECD Guidelines for Multi-national Enterprises.As a global company operating in the mining industry, we acknowledge that respecting human rights is a central tenet of responsible business. We are committed to upholding all internationally recognised human rights of our all employees, customers, suppliers, other business partners and the communities in which we operate. We pay special attention to respecting the rights of vulnerable groups, including indigenous people, women and children. By strategically integrating sustainability into our business operations through improved supplier assessments and robust product safety meas-ures, we aim to protect workers’ rights and ensure their safety throughout our upstream and down-stream value chain, while mitigating potential risks and leveraging existing opportunities.Workers in the value chain are defined by employees working at our suppliers sites or customers' employees working with our products. See our definition on own workforce on page 91.IRO 19: Work-related rights Upstream Negative impact: Pricing demands in certain regions can lead to a higher risk of lower safety standards, adequate wages and governance around forced labour and child labour in our value chain leading to ongoing social disadvantages for the worker.Risk: Among the regions we source from, we have identified high risk countries for work-related rights (forced and child labour, adequate wages) where we could have a negative impact. The occurrence of these can damage reputation and impact financial performance.IRO 20: Product safetyDownstream Opportunity: Demonstrating leadership in product safety can enhance brand reputation and create market differentiation, leading to competitive advantage and long-term value creation.See our human rights salience assessment on page 105-106 Impacts, risks and opportunitiesIRO Actual Potential – + ! Time horizon19  Work-related rights Short-term20  Product safetyShort-termLocation in the value chain:     Upstream   Own operations Downstream Impact, risk and opportunity:  —   Negative  +  Positive Opportunity  !  RiskWorkers in the value chain Policies UpstreamIRO 19: Our Supplier Code of Conduct and poli-cies for due diligence, human rights and conflict minerals provide a framework for managing our impacts on value chain workers and the related reputational risks.Supplier Code of ConductWhile our policies cover all value chain workers, there are special provisions in our Supplier Code of Conduct regarding child labour, young workers and forced labour, wages and benefits, as well as health and safety.Our Supplier Code of Conduct requires that suppliers respect the human rights of all people, including workers and the communities in which they operate. This applies to all workers including temporary, migrant, student, contract, direct employees and any other type of worker or person affected by the suppliers' operations. We expect all suppliers to adhere to the minimum standards outlined in the code of conduct, which aligns with the principles outlined in the Responsible Business Alliance (RBA) Code of Conduct.In alignment with the UN Guiding Principles on Business and Human Rights, the provisions in our Supplier Code of Conduct are derived from and respect internationally recognised standards including the ILO Declaration on Fundamental Principles and Rights at Work and the UN Universal Declaration of Human Rights. Due diligence policyOur Due Diligence Policy describes our commit-ment to avoiding, causing or contributing to adverse impacts on workers in the value chain and to preventing adverse impacts directly linked to operations, products or services through business 18relationships. Human rightsOur Human Rights Policy outlines our commit-ment and practical approach to respecting human rights through our business operations and value chain. This includes adhering to all universal human rights, the core conventions of the ILO and customary international law. We prohibit the use of any form of forced labour, child labour and trafficking of people. We neither tolerate nor contribute to threats or attacks against human rights defenders in relation to our operations and value chain. We pay special attention to respecting the rights of vulnerable groups, including indigenous people, women and children. Workers under the age of 18 shall not perform work that is likely to jeopardise their health or safety. We are committed to upholding and promoting human rights across all areas of our operations. As part of this commitment, we have updated our Human Rights Policy to further strengthen our dedication to providing fair, safe, and respectful working conditions. Conflict mineralsFLSmidth’s Conflict Minerals Sub-Policy concerns the supply chain and suppliers’ possible use of conflict minerals. The policy outlines the basics of the global standards regarding conflict minerals, including mapping conflict minerals in our supply chain and addressing identified issues.DownstreamIRO 20: FLSmidth’s policy is to deliver products that, at a minimum, comply with the essential health and safety requirements laid down in relevant regulations, regardless of the place of delivery. As part of our commitment to providing quality products that meet industry standards and applicable statutory requirements, our equip-ment undergoes safety assessments covering design, construction, servicing, and disposal. Safe work procedures are captured in our Installation and operational Manual for customers to follow during Erection and commissioning. Workers in the value chain Moreover, as digital solutions continue to expand, we take a comprehensive and proactive approach to cybersecurity, as outlined in our Information Security Policy and supporting IT sub-policies. This approach integrates secure design and development principles, responsible operational practices, robust data protection and integrity controls, strict adherence to applicable regulatory requirements, and continuous security monitoring and management. Processes for engaging with value chain workersWe perform annual on-site audits to suppliers, to identify potential impacts on human rights, were feedback feeds into audit findings. Workers in the value chain can reach out through our whis-tleblower hotline and a human rights grievance mechanism, as they are open to third parties.Through our dedicated customer portals, we inform and share information related to quality and safety information that enable our customers to safely operate our equipment throughout its lifetime. We also collect customer feedback on product safety through our customer case story questionnaires.Our engagement with workers in the value chain is also indirect, via tendering, contract negotiations and periodic evaluations.Additionally, we use proxies to take workers’ perspectives across the value chain into account. We apply industry guidelines, including those developed by the RBA, as references for iden-tifying sector-specific human rights risks and impacts. We use risks assessment platforms and country- and sector-level risk profiling to iden-tify suppliers and geographies where vulnerable workers are more likely to be present or affected. These risk criteria inform the selection of suppliers in scope for onsite audits, through which we gain insight into worker perspectives.We also engage with NGOs and media on possible human rights issues.The Chief People Officer and Global Business Services, EVP as responsible for implementation of our human rights commitments and deci-sion-making, and the Presidents of our Business lines as responsible for Procurement and Sales departments within each business line, share operational responsibility for ensuring engage-ment with value chain workers, downstream and upstream respectively, takes place, and that feed-back informs our due diligence and strategy.We are guided by international standards in our commitment to working towards ensuring appro-priate and adequate remedy for stakeholders adversely affected by our business operations and relationships.Our whistleblower hotline and human rights griev-ance mechanism are channels for workers to raise concerns, either directly related to our business or indirectly within our value chain . The whistle- blower process is intended to provide protection against retaliation as stated in our policy.We communicate about our whistleblower hotline both internally and externally through our Supplier Code of Conduct, company website and internal communications and through dialogue with suppliers and customers and its available in our main operations language. We encourage our suppliers to actively inform their employees about the whistleblower hotline. The whistleblower system allows us to track the status of cases. Currently, we have not received any cases related to the identified potential nega-tive impacts on value chain workers. In case of a whistleblower report, we follow a specific process to manage and investigate cases. See more on our remediation processes and grievance mechanisms on page 110-111. To date, we have not been subject to a remedia-tion case.Actions and targetsHuman rightsTo ensure that own practices do not cause or contribute to material negative impacts on value chain workers, we conduct human rights impact assessment with a continuous improvement approach, analysing mitigation measures in place. In 2025, we have updated our human rights sali-ence assessment, and it has been used as input for identifying and confirming material IROs for workers in our value chain. Salience human rights identified affecting our value chain have been: right to just and favorable conditions of work, right to freedom of asso-ciation, right to collective bargaining, right to non-discrimination, right to safe and healthy working conditions, right to protection from forced and/or child labor, right to a healthy envi-ronment, right of freedom of expression, protec-tion from retaliation and right to good governance. Based on the findings of this analysis, we have actions in place to address salient issues, that reduce negative impacts on value chain workers, both upstream and downstream. Actions related to our material IROs are describes on the next page.Training in human rights increased in 2025 as we rolled out a new e-learning course Workers in the value chain Target Target Training related to governance and human rights 2025 202420252030White-collar employees who have completed training in human rights 3,127 4,338White-collar employees who have completed training in human rights (%) 78% 60% 85% 98%this area will help us mitigate any potential impacts or risks related to workers in the value chain. To evaluate the effectiveness, we have set targets for workforce training. In 2025, 22 out of 66  relevant procurement employees were trained in responsible conduct in the supply chain. The specialised course focused on how procurement decisions can promote decent work within supply chains.DownstreamIRO 20: Ensuring the safety and quality of our products is not just a regulatory requirement, but a core value that drives our business strategy. By embedding safety into every phase of the product lifecycle, from design and manufacturing to deployment and disposal, we inherently enhance the quality and reliability of our offerings. This dual focus on quality and safety not only protects workers in our value chain, preventing or miti-gating negative impacts on them, but also solidi-fies our reputation as a dependable and innovative leader in the industry. Our product portfolio offers clear safety advan-tages to value chain workers across customer operations, including employees who use, operate, or maintain our products. The Giratory crushers allow safe, convenient maintenance from above, reducing downtime and risks compared to bottom service designs. Supply chain 2025 2024The completion rate of onsite supplier assessments (%) 100% 92%Supplier spend categorised by high risk of forced labour based on country (%) 36% 32%In 2026, we will track assessed suppliers and their scores to measure progress against our targets. Suppliers are expected to have procedures in place to respect employee rights and to provide grievance mechanisms that are appropriate to their size, complexity, and business-related risks. We conduct training on human rights as we believe developing knowledge and skills within §  Accounting policies The completion rate of onsite supplier assessments (%)Suppliers are selected to be in scope for supplier onsite assessments annually based on specific criteria, including spend, preferred status, ESG score and country. The percentage reflects the number of suppliers assessed as a share of the annual 2025 target.Percentage of supplier spend categorised by high risk of forced labour based on country Supplier spend categorised by high risk of forced labour based on country (%)§  Accounting policies White-collar employees who have completedtraining in human rightsTotal number and percentage of active employees who have received training in human rights. Training in human rights includes courses focusing on human rights as a global topic.With the aim of continuing to improve our supplier management system, we are undertaking meas-ures to enhance its efficiency, compliance, and alignment with our corporate standards and applicable regulation. New suppliers must meet technical, quality, and sustainability standards, including certifications and criteria for climate change, product stewardship, and safety. During 2025, we have been improving our supply chain assessments by launching a scorecard, which includes among others, the Suppliers Code of Conduct signature, management system certifica-tions (ISO 14001, 45001 &amp; others), payment terms, in order to identify potential impacts in our value chain. Additionally, onsite assessments are performed on selected suppliers, based on specific criteria, including spend, preferred status, ESG score and country, prioritising countries with high risk of child and forced labour. Most of the onsite assess-ments were conducted in the last quarter of the year. 37.5% of suppliers with identified red-flags had implemented corrective actions by the end of the reporting year. complementing the existing available training. Despite the increase in training we did not meet our 2025 target but will continue to focus on progress in this area.UpstreamIRO 19: In 2025, we have been working on rein-forcing supply chain due diligence on sustaina-bility to prevent and mitigate negative impacts on our supply chain workers by reviewing the processes of selection, evaluation, onboarding and performance management of suppliers to update ESG criteria aligned with impacts, risks and opportunities identified.Workers in the value chain The HPGR Pro features a mechanical skew limi-tation to prevent damage from excessive skew, enhancing operational safety. Additionally, our composite mill liners are about 50% lighter, further improving worker safety. We have a quality management system in place, certified under ISO 9001. Moreover, we perform product risk assess-ments aligned with harmonised standards, such as EN ISO 12100 General principles for design including risk assessment and risk reduction, used to ensure compliance with CE marking in EU coun-tries. Operating instructions are based on inter-national standards (Machine safety, instruction manual, general design principles) and equipment documentation is provided to customers.   FLSmidth is committed to being a trusted, professional and secure partner to our customers throughout the entire supported product life-cycle, and to act within our power to prevent or mitigate impacts from cyber incidents.In order to ensure that our Operational Technology products have an appropriate level of cyber secu-rity, FLSmidth has developed a Secure Develop-ment Lifecycle (SDLC) which has been certified according to IEC 62443-4-1. As a provider of managed digital services, FLSmidth complies with the requirements of the EU NIS2 directive. Resources allocated to management of material impacts on workers in the value chain include budget for the development of IT platform, training and audits, and internal FTEs from procurement, sales, quality and sustainability functions. The Audit, Risk and ESG Reporting Committee reviews the effectiveness of these actions and our human rights risk management, including grievance mechanisms and impact assessments.No severe human rights issues or incidents connected to upstream and downstream value chain were reported in 2025. Our aim is to ensure the ongoing safety and reliability of our products by maintaining zero product-related incidents annually.From 2026 we will annually review the human rights impact assessment to ensure the company has measures in place to prevent the materialisa-tion of new salient impacts.Affected communitiesWe recognise that the perspectives, interests, and rights of affected communities, including a strong commitment to respecting their human rights, are central to understanding our poten-tial impacts on these groups and to shape our strategy and business model. Our commitment to zero emissions by 2030 and respect for human rights is essential as well for maintaining trust with stakeholders and complying with regulations. This approach also helps us avoid legal risks and supports strategic partnerships, which are crucial for long-term viability.IRO 8: License to operate Downstream Risk: Mining projects can affect communities including indigenous peoples through land impacts, creating potential reputational and finan-cial risks. This can include restrictions or delays in obtaining customer permits, which in turn may slow order intake.  PoliciesOur Human Rights Policy applies to our own operations and the entire value chain (See page 102), and addresses the rights of vulnerable groups, including indigenous peoples. In the event of a human rights breach, anyone can access the whistleblower hotline and human rights grievance mechanism. See more about our whistleblower hotline on page 110-111.Our Environmental Policy and Climate Action policy outlines our commitments to develop solu-tions enabling our customers to maximise yields within a smaller land footprint, thus reducing land use and provide services designed for more sustainable mining operations by emphasising energy efficiency and operating on renewable energy sources. See more on page 68.   Process for engaging with affected communitiesWe actively engaging with our customers, and incorporate the indirect feedback from affected communities gathered through these engage-ments, ensuring that our operations and product offerings address their needs and priorities and thereby mitigating the potential impacts.We also engage with affected communities through social action initiatives recurrently throughout the year, which may also include stra-tegic partnerships with our customers.  Process to remediate negative impactsWe are guided by international standards in our commitment to working towards ensuring appro-priate and adequate remedy for stakeholders adversely affected by our business operations and relationships. Our whistleblower hotline is opened to all our stakeholders including affected communities. See more information on page 110-111. Impacts, risks and opportunitiesIRO Actual Potential – + ! Time horizon8   License to operateShort-termLocation in the value chain:     Upstream   Own operations Downstream Impact, risk and opportunity:  —   Negative  +  Positive Opportunity  !  RiskAffected communitiesHow we are taking actionIt is increasingly important for mining companies to address land-related impacts and securing free, prior and informed consent in the process of developing new mining projects. Failure to do so could lead to the loss of a license to operate, presenting a reputational and financial risk for our operations, as our customers may not be able to pursue projects in which we are engaged. To mitigate the potential risks related to such loss of permits or delays, we continue to develop envi-ronmentally responsible and socially conscious solutions to our customers guided by our commit-ments and innovative efforts. Our dedication to upholding human rights and fostering transparent relationships with stakeholders not only helps us meet regulatory and customer expectations, but also strengthens our reputation and underpins the long-term sustainability efforts of our business and product portfolio. It also helps manage finan-cial risks from potential delays or permit issues due to legal disputes with affected communi-19ties in the surrounding areas of mining plants, providing more stability in revenue streams. We have had no reported cases of non-respect of the UN Guiding Principles on Business and Human Rights, ILO Declaration on Fundamental Principles and Rights at Work or OECD Guidelines for Multinational Enterprises that involve affected communities. See more on whistleblower cases on page 111.In 2025, we established a comprehensive Social Action Strategy designed to fund social initiatives within our operational areas, with the objective of generating positive impact in the following key domains:Health &amp; Safety – enhancing healthcare access, promoting preventative measures, and supporting mental healthHumanitarian – providing relief aid, food, shelter, and assistance to vulnerable groupsEnvironment – advancing conservation efforts, renewable energy adoption, and waste manage-ment practicesEducation – facilitating vocational training, literacy programs, and STEM skill developmentThe implementation process for this strategy involves the formation of Social Committees at each of our locations. These volunteer-led teams are dedicated to developing meaningful local activities that strengthen engagement and drive social impact, thereby enabling employees to influence initiatives aligned with the needs of their teams and communities.To ensure effectiveness, a robust monitoring and evaluation framework has been defined, incor-porating KPI tracking and comprehensive impact assessments upon completion of initiatives.The Chief People Officer and Global Business Services, EVP has oversight over the Social Action Strategy. TargetsOur target is to fully implement the Social Action Strategy process by 2026.GovernanceAs a responsible business, our operations and strategic decisions are guided by the key principles of integrity and accountability. We adhere to all applicable laws and regulations and maintain transparency with stakeholders across the value chain.Business conductAssessing impacts, risks and opportunitiesOur governance is focused on honesty, respon-sibility and transparency. We are committed to meeting high ethical standards and building trust with our stakeholders.We operate in geographies and industries where bribery and corruption can be more prevalent and therefore mechanisms such as the whistle-blower hotline are essential. Effective engage-ment with suppliers and other business partners and ensuring a safe and constructive working environment in the value chain through our Code of Conduct are a foundation of our approach to responsible business conduct.IRO 21: Relationships with suppliers Own operations Negative impact: Supplier payment practices leading to delayed payments may negatively impact some suppliers.IRO 22: Corruption and bribery Own operations Negative impact: Inadequate prevention and detection processes can lead to employees unin-tentionally or intentionally performing unlawful activities. Operating in regions with higher expo-sure to corruption increases the risk of incidents that can negatively affect people and society. Risk: Incidents of bribery and corruption can nega-tively impact the company’s reputation. Operating in regions more exposed to corruption and bribery can lead to more incidents resulting in fines or litigation.IRO 23: Lobbying activities DownstreamOpportunity: Partnerships with industry groups to support the future of mining. Impacts, risks and opportunitiesIRO Actual Potential – + ! Time horizon21  Relationships with suppliersShort-term22  Corruption and briberyShort-term23  Lobbying activitiesMedium-termLocation in the value chain:     Upstream   Own operations Downstream Impact, risk and opportunity:  —   Negative  +  Positive Opportunity  !  RiskBusiness conductRole of administrative, management and  supervisory bodiesOur Board of Directors and Executive Leader-ship Team are deeply involved in our compliance programme. Compliance provides regular updates to the Audit, Risk and ESG Reporting Committee, Board of Directors and the CEO.Members of the Board of Directors and the Execu-tive Leadership Team are profiled on pages 46-49. Business conduct policies and corporate cultureOur company culture is shaped by our core values: trust, empowerment, accountability, collaboration, and honesty (TEACH). These principles drive our organisation and strategic goals. Culture-related topics are discussed in the Executive Leadership Team meetings led by the Chief People Officer and Global Business Services, EVP. We aim to reflect these values in internal communications, especially around strategy and organisational matters, and managers are encouraged to embed them in team interactions.Our Code of Conduct and relevant policies serves as the cornerstone of our business activities. Employees undergo comprehensive compliance training encompassing topics such as sanctions, bribery and anti-corruption measures, human rights, and the whistleblower hotline. Remediation processes and grievance mechanismsWe are committed to ensuring that our business activities respect human rights, safeguard the environment, and uphold responsible business conduct. Our remediation processes are guided by the UN Guiding Principles on Business and Human Rights (UNGPs), the European Whistleblower Direc-tive, and other relevant international standards.Where our activities have caused or contributed to adverse impacts on people, we provide or participate in appropriate remedies, including restitution, rehabilitation, compensation, guar-antees of non-repetition, or other context-spe-cific measures. We assess the effectiveness of remedies by engaging directly with affected rights-holders, conducting follow-up monitoring, and gathering feedback to ensure that corrective measures address the harm adequately.Channels for Raising ConcernsThe confidential whistleblower hotline enhances our internal investigative capacity by providing a secure channel for employees and external stake-holders to report concerns. We have established procedures to ensure adherence to the European Whistleblower Directive.Own WorkforceOur confidential whistleblower hotline provides a secure platform for employees to voice their concerns.Employees are encouraged to report cases of suspected harassment or discrimination, either to the Compliance or People and Sustainability departments directly, through the whistleblower hotline or through our human rights grievance mechanism, and we do not tolerate retaliation 20based on such reporting.These mechanisms apply the UNGP effectiveness criteria by ensuring accessibility, independence, protection against retaliation, and appropriate follow-up actions.We also maintain a grievance mechanism for employee-related matters, including human rights, labour rights, workplace conduct including discrimination, and compliance breaches. Concerns may additionally be raised via trade unions or workers’ representatives.We seek to remediate or participate in remedia-tion of any direct or indirect adverse impacts on employees, including collaborating with judicial or non-judicial mechanisms for remedy access.Value Chain WorkersWorkers in our value chain also have access to the whistleblower hotline and the human rights grievance mechanism. We encourage suppliers to inform their employees of these channels and to support their availability in the workplace. Through supplier dialogue and our Supplier Code of Conduct, we reinforce the accessibility of these channels and our expectation that value chain workers are informed and protected when using them.Investigation and Remedy ProcedureWe commit to handling investigation procedures in a transparent, confidential, professional and unbiased manner where reports of alleged harass-ment are submitted. We investigate all reported cases promptly, objectively and in compliance with local legislation. Where necessary, external counsel are used to investigate independently from the chain of management.All admissible cases are registered by the third-party system and reviewed by Group Legal and Compliance.Investigations are conducted according to struc-tured procedures, which may include document reviews, internal and external interviews, and engagement with rights-holders:Filing – Complaints are submitted through the hotline or grievance mechanism.Screening – Cases are assessed to determine if they relate to potential violations of internation-ally recognised human or labour rights or other business conduct issues.Business conductInvestigation – Investigations are carried out promptly, independently, and objectively, including for cases of corruption and bribery.Resolution – Remedies are determined on a case-by-case basis, ensuring that outcomes address the harm and prevent recurrence.Staff responsible for receiving and handling reports are designated and trained to ensure competence, confidentiality, and fairness in the process.Awareness, Trust, and ProtectionWe actively promote awareness of grievance mechanisms through internal campaigns, intranet communications, workplace posters, supplier engagement, and customer dialogue. Information is available in our main operational languages.We assess awareness and trust in these channels through regular employee surveys and stake-holder dialogue. Our last survey conducted in 2024, reflected that 87% of respondents would feel comfortable reporting through our whistle-blower hotline.We have a zero-tolerance policy against retalia-tion, ensuring that employees, workers’ represent-atives, and value chain workers can raise concerns without fear of adverse consequences.Monitoring and Continuous ImprovementThe system allows us to track the type, volume, and status of reports, as well as the outcomes and remedies applied. We review these data to iden-tify trends, update procedures, and strengthen effectiveness. Lessons learned are documented and integrated into our compliance and risk management systems.Current StatusNo cases have been reported concerning poten-tial negative impacts on value chain workers, corruption, or bribery, but we continue to monitor the effectiveness of our processes and remain committed to continuous improvement in line with international standards and legal requirements. Managing our supply chainWe actively collaborate with suppliers, ensuring adherence to international standards that promote ethical and sustainable practices. Supplier assessments are a critical part of our due diligence, allowing us to evaluate their sustaina-bility performance and identify areas for capacity building, including environmental and human rights risks and impacts. We also monitor our spend in high risk forced labour countries. These assessments support our efforts to prevent and mitigate adverse impacts in the supply chain. See more on our supply chain due diligence on sustain-ability on page 104. §  Accounting policiesWhistleblower reports submittedIncludes total number of reports submitted through FLSmidth’s formal whistleblower hotline or by other means, such as e-mail, letter or in person. The figures include total number of reports received across different sub-categories, including incidents related to discrimination and harassment, as well as the number of admissible cases, i.e. cases that fall within the scope of topics allowed by whistleblower hotline reporting in accordance with the data privacy laws of the country in question.The total number of reported incidents of severe human rights Number of cases on human rights issues submitted to FLSmidth’s Compliance department through the formal whistleblower hotline or by other means, such as email, letter or in person that have been substantiateCompliance 2025 2024Whistleblower reports submitted 110 146   of which: compliance 10 31   of which: finance 17 25   of which: Human Resources 71 82   of which: other 12 8   of which: admissable 77 94The total number of reported incidents of discrimination, including harassment 42 40The total number of reported incidents of severe human rights 0 0Business conductSales and procurement employees are more likely to encounter trade compliance or human rights issues, so they receive specialised training to spot and address these risks.  Payment practicesIRO 21: FLSmidth’s standard contract payment terms are a minimum of 90 days for all supplier categories. However, alternative payment terms dependent on the nature of the service and region   can occur. As part of our strategic transforma-tion, we improved and simplified the processes of financial transactions, including accounts payable. Outsourced to a specialist third- party and overseen by our global business centre, this aims to improve the efficiency of our payment processes and ensure suppliers are paid on time and thus preventing late payments. In addition, we offer a supplier financing programme that supports suppliers to receive faster payment. Prevention and detection of corruption and bribery IRO 22: Our Bribery and Facilitation Payments Sub-Policy outlines the specific rules prohibiting bribery and facilitation payments. Employees must adhere to our Code of Conduct and all relevant laws and applicable international and local regulations. Offering, receiving or demanding bribes or payments is strictly prohibited, and any potential or actual incidents must be reported to the Compliance department or through the whis-tleblower hotline.Facilitation payments are only permitted in excep-tional circumstances, such as to mitigate unsafe situations, and must follow a clear process as described in the sub-policy.Anti-corruption training     All white-collar employees, including top management, are required to complete training on anti-corruption as we define these roles as at-risk functions. The e-learning courses are short courses focusing on specific topics such as gifts, §  Accounting policiesAverage days payment Days payment is defined as difference between Invoice Payment date and Invoice issue date. To calcu-late the average, we take the difference between the upper and lower quartile of supplier invoicing data. This is to remove any outliers that related to disputes that would not be related to payment practices. Total number of outstanding disputesTotal number of legal proceedings related to payment delays. Incidents may relate to incidents that occur in previous periods. §  Accounting policiesTotal number of convictions for violations related to corruption and briberyReported as an annual total number of convictions related to anti-corruption or corruption laws. Convic-tions may relate to incidents that occur in previous years.Total fines related to convictions for violations related to corruption and briberyTotal amount of fines related to convictions on viola-tions of anti-corruption and anti-bribery law.  Reported as fines that occur within the year but may relate to incident that occurred in previous years.Operations assessed for risksrelated to corruption Number of assessments conducted by Compliance, which involves reviewing internal controls, interviewing relevant stakeholders and examining documentation to ensure adherence to anti-corruption policies and regulations and assess operations for risks related to corruption.Payment practices 2025 2024Average days payment 61 59Total number of outstanding disputes 7 0Corruption and bribery 2025 2024Total number of convictions for violations related to corruption and bribery 0 0Total fines related to convictions for violations related to corruption and bribery 0 0Operations assessed for corruption 0 1Business conductbribery, trade compliance and human rights. Our in-person training concept puts the emphasis on engaging participants, while increasing the breadth of content. The aim of the training and e-learning concepts is to increase awareness of emerging topics such as fraud and harassment.By the end of 2025, 72% of our white-collar workers completed e-learning courses and 62% had received inperson training on anti-corruption. We will maintain a strong focus on training our employees and providing awareness campaigns related to corruption and bribery to mitigate any potential negative impacts or risks in this area.Findings are reported to the Executive Leadership Team and human resources representatives and the Board of Directors. Members of the Board of Directors and the Executive Leadership Team also receive training in preventing corruption and bribery. No incidents of corruption or bribery and related fines have occurred throughout the year.All our policies are available to all employees on the company intranet.  We have procedures to perform assessments at operations, which involve reviewing internal controls, interviewing relevant stakeholders and examining documentation to ensure adherence to anti-corruption policies and regulations and assess operations for risks related to corruption. Lobbying activitiesIRO 23: Stimulating demand for green minerals, metals and cement requires a supportive policy environment. We engage with international organ-isations to provide expertise, share experience, exchange ideas and inform policymakers. We are members of, or engage with, various industry associations and advocacy groups to promote policy frameworks and regulations that help accelerate the green transition. We are a founding member of the Compliance in Mining Network and part of the Women in Mining initiative. We do not provide support, financial or otherwise, to political or lobbying organisations.Target Target Anti-corruption training 2025 202420252030White-collar employees who have completed e-learning courses on anti-corruption  2,960 4,74 9White-collar employees who have completed e-learning courses on anti-corruption  (%) 72% 79% 85% 95%White-collar employees who have received in-person training on anti-corruption 2,549 4,584White-collar employees who have received in-person training on anti-corruption (%) 62% 76%§  Accounting policies White-collar employees who have  completed e-learning courses on anti-corruption Number and percentage of active white-collar employees who have completed the mandatory compliance e-learning courses; completion may have occurred in previous years. Terminated employees and non-employees are excluded from the calculation.White-collar employees who have received in-person training on anti-corruptionThe number and percentage of active white-collar employees completing the mandatory compliance courses; completion may have occurred in previous years. Terminated employees and non-employees are excluded from the calculation. AppendixDisclosure requirement reference table and other information Changes to the IRO overviewDisclosure requirement reference table and other informationSection/ESRS 2 General disclosuresreport Page Additional informationBP-1  General basis for preparation of the sustaina-SS 61- 62bility statementBP-2  Disclosures in relation to specific circumstances SS 62GOV-1 Governance and oversight of sustainability CG/SS 41-4 5/61 Data point 21 (d) - Board's gender diversity is GOV-2derived from SFDR and Benchmark Regulation Data point 21 (e) - Percentage of board members who are independent is derived from Benchmark RegulationGOV-3  Integration of sustainability-related perfor-SS 61mance in incentive schemesGOV-4  Statement on sustainability due diligence SS 61 Data point 30 - Statement on due diligence is derived from SFDRGOV-5 Risk management and internal controls over SS 61sustainability reportingSBM-1 Sustainability at FLSmidth (products, markets, SS 56 Data point 40 (d) i - Involvement in activities customers)related to fossil fuel activities is derived from SFDR, Pillar 3 and Benchmark Regulation Countries with over 10% of workforce (head-SS 95Data point 40 (d) ii - Involvement in activities count by country)related to chemical production is derived from Sustainability at FLSmidth (breakdown of SS 56SFDR and Benchmark Regulation revenue)Data point 40 (d) iii - Involvement in activities related to controversial weapons is derived from SFDR and Benchmark Regulation Data point 40 (d) iv - Involvement in activities related to cultivation and production of tobacco is derived from Benchmark RegulationSBM-2 Stakeholder engagement SS 59SBM-3 Impacts, risks and opportunities across our SS 60value chainIRO-1 Assessing impacts, risks and opportunities SS 57IRO-2 Disclosure requirement reference table and SS 115-119other informationSection/ESRS E1 Climate changereport Page Additional information E1-GOV-3  Integration of sustainability-related perfor-SS 61mance in incentive schemesE1-IRO-1 Assessing impacts, risks and opportunities SS 65E1-SBM-3  Resilience of our strategy SS 58E1-1  Transition plan for climate change mitigation SS 66 Data point 14 - Transition plan to reach climate neutrality by 2050 is derived from EU Climate Law  Data point 16 (g) - Undertakings excluded from Paris-aligned Benchmarks is derived from Pillar 3 and Benchmark Regulation E1-2 Policies SS 66-67 E1-3 How we are taking action SS 67-68 E1-4 Targets SS 68-69 Data point 34 - GHG emission reduction targets is derived from SFDR, Pillar 3 and Benchmark RegulationE1-5 Energy consumption and mix SS 70 Data point 38 - Energy consumption from fossil sources disaggregated by sources (only high climate impact sectors) is derived from SFDR Data Point 37 Energy consumption and mix Is derived from SFDR Data point 40 to 43 -Energy intensity associated with activities in high climate impact sectors is derived from SFDRE1- 6 Scopes 1, 2 and 3 GHG emissions SS 71 Data point 44 Gross Scope 1, 2, 3 and Total GHG emissions is derived from SFDR, Pillar 3 and Benchmark Regulation Data point 53-55 Gross GHG emissions intensity is derived from SFDR, Pillar 3 and Benchmark Regulation E1-7  GHG removals and GHG mitigation projects Not  - Data point 56 GHG removals and carbon credits is financed through carbon creditsapplicablederived from EU Climate Law reference E1-8  Internal carbon pricing SS 69Section/ESRS E1 Climate changereport Page Additional information E1-9  Anticipated financial effects from material Not appli-- Data point 66 Exposure of the benchmark port-physical and transition risks and potential cablefolio to climate-related physical risks is derived climate-related opportunitiesfrom Benchmark Regulation  Data point 66 (a) Disaggregation of monetary amounts by acute and chronic physical risk Is derived from Pillar 3  Data point 66 (c) Location of significant assets at material physical risk is derived from Pillar 3 Data point 67 (c) Breakdown of the carrying value of its real estate assets by energy-efficiency classes is derived from pillar 3   Data point 69 Degree of exposure of the portfolio to climate-related opportunities is derived from Benchmark RegulationSection/ESRS E2 Pollutionreport Page Additional informationE2-IRO-1 Assessing impacts, risks and opportunities SS 74 E2-1  Policies SS 74-75 E2-2  How we are taking action SS 75E2-3 Targets Not appli--cableE2-4 Pollution of air Not appli-- Data point 28 Amount of each pollutant listed cablein Annex II of the E-PRTR Regulation (European Pollutant Release and Transfer Register) emitted to air, water and soil is derived from SFDR  E2-5  Substances of concern and substances of very Not appli--high concerncable E2-6  Anticipated financial effects from material Not appli--pollution-related risks and opportunitiescableSection/ESRS E3 Water and marine resourcesreport Page Additional informationE3-IRO-1 Assessing impacts, risks and opportunities SS 76E3-1 Policies SS 77 Data point 9 Water and marine resources is derived from SFDR Data point 13 Dedicated policy is derived from SFDR  Data point 14 Sustainable oceans and seas is derived from SFDRE3-2 How we are taking action SS 77E3-3 Targets SS 7 7-78E3-4 Water use SS 78 Data point 28 (c) Total water recycled and reused is derived from SFDR  3 per Data point 29 Total water consumption in mnet revenue on own operations is derived from SFDRE3-5 Anticipated financial effects from material Not appli--water and marine resources-related risks and cableopportunitiesSection/ESRS E4 Biodiversity and ecosystemsreport Page Additional informationE4.SBM-3 Material impacts, risks and opportunities and Not appli-- Data point 16 (a) i - specifying the activities their interaction with strategy and business cablenegatively affecting biodiversity sensitive areas modelis derived from SFDR Data point 16 (b) - whether it has identified material negative impacts with regards to land degradation, desertification or soil sealing is derived from SFDR Data point 16 (c) - whether it has operations that affect threatened species is derived from SFDRE4-IRO-1 Assessing impacts, risks and opportunities SS 79E4-1 Transition plan SS 80Disclosure requirement reference table and other informationSection/ESRS E4 Biodiversity and ecosystemsreport Page Additional informationE4-2 Policy SS 80 Data point 24 (b) Sustainable land / agriculture practices or policies is derived from SFDR Data point 24 (c) Sustainable oceans / seas prac-tices or policies is derived from SFDR  Data point 24 (d) Policies to address deforestation is derived from SFDR E4-3 Actions and resources related to biodiversity Not  -and ecosystemsapplicableE4-4 Targets related to biodiversity and ecosystems Not  -applicableE4-5 Impact metrics related to biodiversity and Not  - Data point 37 (d) Non-recycled waste is derived ecosystems changeapplicablefrom SFDR Data point 39 Hazardous waste and radioactive waste is derived from SFDR E4-6 Anticipated financial effects from biodiversity Not appli--and ecosystems-related risks and opportunitiescableSection/ESRS E5 Resource use and circular economyreport Page Additional informationE5-IRO-1 Assessing impacts, risks and opportunities SS 82E5-1 Policies SS 83E5-2 How we are taking action SS 83-86E5-3 Targets SS 86E5-4 Resource inflows SS 83E5-5 Resource outflows SS 86E5-6 Waste SS 84Section/ESRS S1 Own workforcereport Page Additional informationS1-SB M -2Own workforce SS 91 Data point 14 (f) - Risk of incidents of forced S1-SBM-3labour is derived from SFDR  Data point 14 (g) - Risk of incidents of child labour is derived from SFDRS1-1 Policies SS 92 Data point 20 Human rights policy commitments is derived from SFDR Data point 21 Due diligence policies on issues addressed by the fundamental International Labor Organisation Conventions 1 to 8 is derived from Benchmark Regulation  Data point 22 processes and measures for preventing trafficking in human beings is derived from SFDR Data point 23 workplace accident prevention policy or management system is derived from SFDRS1-2Processes for engagement SS 92-93 Including information on process for remediationS1-3Data point 32 (c) grievance/complaints handling mechanisms is derived from SFDRS1-4 How we are taking action SS 93-100S1-5 Targ ets SS 100S1-6 Characteristics of our workforce SS 95S1-7 Characteristics of non-employees in the under-SS 95taking’s own workforceS1-8 Collective bargaining coverage and social SS 94dialogueS1-9 Diversity SS 94, 96S1-10 Adequate wages SS 94S1-1 1 Social protection Not material - S1-1 2 Persons with disabilities Not material -S1-13 Training and skills development SS 98S1-14 Health and safety SS 99 Data point 88 (b) (c) Number of fatalities and number and rate of work-related accidents is derived from SFDR and Benchmark Regulation  Data point 88 (e) Number of fatalities and number and rate of work-related accidents is derived from SFDRDisclosure requirement reference table and other informationSection/ESRS S1 Own workforcereport Page Additional informationS1-15 Work-life balance metrics SS 95S1-16 Pay equity SS 96 Data point 97 (a) Unadjusted gender pay gap is derived from SFDR and Benchmark Regulation Data point 97 (b) Excessive CEO pay ratio is derived from SFDRS1-17 Violence and harassment SS 97 Data point 103 (a) Incidents of discrimination is derived from SFDR Data point 104 (a) Non-respect of UNGPs on Business and Human Rights and OECD is derived from SFDR and Benchmark Regulation Section/ESRS S2 Workers in the value chainreport Page Additional informationS2-SBM-2Workers in the value chain SS 101 Data point 11 (b) Significant risk of child labour or S2-SBM-3forced labour in the value chain is derived from SFDRS2-1 Policies  SS 102-103 Data point 17 Human rights policy commitments is derived from SFDR  Data point 18 Policies related to value chain workers is derived from SFDR  Data point 19 Non-respect of UNGPs on Business and Human Rights principles and OECD guidelines is derived from SFDR and Benchmark Regulation  Data point 19 Due diligence policies on issues addressed by the fundamental International Labor Organisation Conventions 1 to 8, is derived from Benchmark RegulationS2-2Processes for engaging with value chain workers SS 103 Including requirements for process to remediate S2-3negative impactsS2-4Actions and targets SS 103-105 Data point 36 Human rights issues and incidents S2-5connected to its upstream and downstream value chain is derived from SFDR Section/ESRS S3 Affected communitiesreport Page Additional informationS3-SBM-2Affected communities SS 106S3-SBM-3S3-1 Policy SS 106 Data point 16 - Human rights policy commitments is derived from SFDR  Data point 17 non-respect of UNGPs on Business and Human Rights, ILO principles or and OECD guidelines is derived from SFDR and Benchmark RegulationS3-2 Processes for engaging with affected commu-SS 106nitiesS3-3 Processes to remediate negative impacts SS 106S3-4 How we are taking action SS 107 Data point 36 - Human rights issues and incidents is derived from SFDRS3-5 Targ ets SS 107Section/ESRS S4 Consumers and end-usersreport Page Additional informationNot material - ESRS S4 is not material.  Data point 16 - Policies related to consumers and end-users is derived from SFDR Data point 17 - Non-respect of UNGPs on Busi-ness and Human Rights and OECD guidelines is derived from SFDR and Pillar 3 Data point 35 - Human rights issues and incidents is derived from SFDRDisclosure requirement reference table and other informationSection/ESRS G1 Business conductreport Page Additional informationG1-IRO-1 Assessing impacts, risks and opportunities SS 109G1- GOV-1 The role of the administrative, management and CG/SS 41-45/61/ supervisory bodies110G1-1 Business conduct policies and corporate culture SS 110 Data point 10 (b) United Nations Convention against corruption is derived from SFDR Data point 10 (d) Protection of whistle-blowers is derived from SFDRG1-2 Managing our supply chain SS 111-112G1-3Prevention and detection of corruption and SS 112-113 Data point 24 (a) Fines for violation of anti-cor-G1-4bribery ruption and anti-bribery laws is derived from SFDR Data point 24 (b) Standards of anti-corruption and anti-bribery is derived from SFDRG1-5 Lobbying activities SS 113G1-6 Payment practices SS 112Overview of KPI Changes from 2024 ReportingDiscontinued KPIs CommentsSubstances of concern and substances of very high concern Removed during the 2025 double materiality assessmentScope 3 cat. 11 Use of sold products, including process emissions Removed as a result of the divestment of cement. No longer a relevant measure.Sites assessed for corruption Entity specific KPI that is no longer relevantNew KPIs CommentsPercentage of employees covered by collective bargaining Phase-in KPIagreementsEmployees entitled for family-related leave Phase-in KPIEntitled employees that took family-related leave Phase-in KPIChanges to KPIs CommentsWhite-collar employees who have completed training in humanThe KPIs on human rights training has been merged so they include rightsboth e-learning and in-person training going forward. Disclosure requirement reference table and other informationChanges to the IRO overviewThe table below outlines the changes to our IRO landscape following the revisit of the DMA. These changes reflect several factors, including insights gained from data collection, regulatory landscape, benchmarking against industry and market peers, and adjustments related to the divestment of our Cement business, which has impacted the materiality threshold. Significant updates to the IRO overview are described in more detail below. For more information about the process for the updates see page 57.REPORTING 2024 REPORTING 2025IRO  Impact, risk and IRO  Impact, risk and Topicnumber IRO nameopportunity Topicnumber IRO nameopportunity Material changesE1 1 CO e emissions  - E1 1 CO e emissions  - No material changes22E1 2 Energy optimisation E1 2 Energy optimisation E1 3 MissionZero portfolio  +    E1 3 MissionZero portfolio &amp; environmental stewardship  +   E2 4 Air pollution from production  - E2 4 Air pollution from production  - E2 Use of substances of concern and Air pollution as E2 5 Tailings solution offerings  + E2 5 Tailings solution offerings  +an actual negative impact in own operation has been removed after 2024 data confirmed that our impact E2 6 Use of substances of concern  -falls below materiality threshold.E3 7 Water withdrawal  - E3 6 Water withdrawal   - E3 Water withdrawal has been removed as an actual E3 3 MissionZero portfolio  +   E3 3 MissionZero portfolio &amp; environmental stewardship  +   upstream impact as we reassess impact of the steel industry’s water consumption to lower.E4 1 CO e emissions  - E4 COe emissions has been removed as an IRO as 22E4 8 Depletion of natural resources and land use change  - E4 7 Depletion of natural resources and land use change   -it is an indirect impact on biodiversity over the long term, mainly through downstream energy use. COe E4 9 Regulatory/ reputational pressure  ! E4 8 License to operate  !2remains central to our climate strategy but is not a E4 10 Reducing mining footprint  + E4 9 Reducing mining footprint  +primary biodiversity driver.  Regulatory/reputational pressure has been renamed to License to operate to better reflect the risk described and for strategic purpose.E5 11 Virgin raw materials  - E5 10 Virgin raw materials  - No material changesE5 12 Sourcing of materials  ! E5 11 Sourcing of materials  !E5 13 Generation of waste  - E5 12 Waste generated  -E5 14 Product design  + E5 13 Product design &amp; reburbishment  +E5 15 Sales of services (spare parts &amp; maintenance) E5 14 Sales of services (spare parts &amp; maintenance) REPORTING 2024 REPORTING 2025IRO  Impact, risk and IRO  Impact, risk and Topicnumber IRO nameopportunity Topicnumber IRO nameopportunity Material changesS1 16 Working conditions  +   -   ! S1 15 Working conditions  +   - S1 Workforce-related risks have been combined into S1 17 Equal treatment and opportunities  +      ! S1 16 Equal opportunities  +   !a new IRO, Talent Attraction and Retention, for clarity. Health and safety, which was previously part of S1 17 Talent attraction &amp; retention  !Working conditions, has been added as a standalone S1 18 Health &amp; safety  +   -IRO due to the importance of this topic.S2 18 Adequate wages  - S2 19 Work-related rights  -   ! S2 The three previous IROs have been combined (Child &amp; forced labour, adequate wages) into one Work-related rights (Child &amp; forced labour, S2 19 Health and safety  - S2 20 Product safety adequate wages) for clarity. Product safety has been added as an opportunity S2 20 Child labour &amp; forced labour  -   !to provide workers in our value chain with safer products.S3 21 Communities’ economic, social and cultural rights  ! S3 8 License to operate  ! S3 IROs have been combined under License S3 22 Rights of indigenous peoples  -   !to operate for clarity and strategic focus.G1 23 Corporate culture    G1 Corporate Culture has been merged G1 24 Protection of whistleblowers  -   !into Talent Attraction IRO (S1). Whistleblower protection risk has been incor-G1 25 Political engagement and lobbying activities G1 21 Lobbying activities porated under the Corruption and Bribery IRO. G1 26 Public policy     !Public policy opportunity is removed G1 27 Relationships with suppliers  -   + G1 22 Relationships with suppliers  -and instead included under E1 due to its G1 28 Corruption and bribery  -   ! G1 23 Corruption and bribery  -   !link with climate change initiatives.</mrv:SustainabilityReport>
   <mrv:DescriptionofTheTaxonomyRegulation contextRef="ctx-1" id="f1__s9__7__28" xml:lang="en">EU TaxonomyPart of the European Green Deal, the EU taxonomy is a core enabler to deliver on the EU’s ambitious environmental goals for 2030.The EU taxonomy framework demonstrates how we support customers in reducing their GHG foot-prints. Of the six environmental objectives defined by the EU taxonomy, only “climate change mitiga-tion” is relevant to our 2025 reporting.Progress in 2025 Alignment across revenue increased during 2025. This was driven by more core product technol-ogies fulfilling technical screenings as well as increase in sales in existing aligned products. We continue to implement improvements at our manufacturing facilities to ensure compliance with the Do No Significant Harm (DNSH) criteria as well as invest in more sustainable infrastructure. As a result, our aligned CAPEX has also increased in 2025.However,  under the current framework, we approach the alignment potential of our current portfolio of technologies. We therefore expect slower growth in our revenue alignment numbers, until the time the EU taxonomy activities are expanded. This will be relevant should new activi-ties cover our water related technologies. Looking ahead, we will strengthen our implementation of Minimum Safeguards.Revenue Total aligned revenue in 2025 increased to 19.6% of total revenue, up from 9.9% in 2024. All aligned revenue was under economic activity 3.6 ‘Manufacture of other low carbon technologies’. Improvement was driven by increased portion of revenue coming from existing aligned products, as well as more products passing the technical screenings. The divestment of the Cement busi-ness also supported performance as a greater portion of aligned products belong to the Mining segment, now continued business. Total Eligible revenue, which includes aligned revenue, totalled 33.2% an increase of 3.3% from 2024. This was a result increased revenue recog-nition within our eligible and aligned product portfolio.CAPEXAligned CAPEX reflects annual additions related to our investments in our aligned product porfolio, including R&amp;D and production equipment, and addi-tions to tangible assets such as land and buildings.Aligned CAPEX in 2025 increased to 16.1% up from 3.1% in 2024. This represents DKK 120m of CAPEX additions, of which DKK 28 million is related to economic activities driving aligned revenue., and DKK 92m allocated to the CAPEX plan under 7.7 Acquisition and ownership of buildings.Eligible CAPEX increased to 78.0% in 2025. This was mostly driven by ‘assets under the course of construction’ being classified under 7.7 Acquisition and ownership of buildings for the current period. In 2025, 91mDKK of R&amp;D spend was on Eligible activi-ties which amounted to 76% of total R&amp;D spend.Proportion of Revenue, CAPEX, OPEX from products or services associated with taxonomy-eligible or taxonomy-aligned economic activities Financial year (N) 2025 Breakdown by environmental objectives of taxonomy aligned activitiesKPI  Total PropotionTaxonomyProportionClimate Climate Water Circular Pollution   Biodiversity  ProportionProportionNot assessedTaxonomy Proportion ofof taxonomyalignedof taxonomyChange Change Economy  of enabelingof transitionalactivitiesaligned taxonomy eligible activitiesalignedMitigation Adaptation activities activities consideredactivities in aligned activitiesactivitiesnon-material 2024 activities in 2024 Text DKK m % DKK m % % % % % % % % % % DKK m %Revenue 14,612 33.2 2,866  19.6  19.6 0 0 0  0 0 100  0  0 1,996 9.9CAPEX 744 78.0 120 16.1 16.1 0 0 0 0 0 33.1 76.9 0 25 3.1OPEX 99EU Taxonomy13Proportion of Revenue and CAPEX from products or services associated with taxonomy-eligible or taxonomy-aligned economic activities14eRe2025 Environmental objective of taxonomy aligned activitiesEconomicCode  Taxonomy TaxonomyTaxonomy Climate Change Climate Change Water   Circular Pollution   Biodiversity  EnabelingTransitionalProportion ofeligible  KPI  aligned KPI aligned  KPI  Mitigation Adaptation Economy  activities (A activities (A taxonomy Activities proportion proportion aligned in of aligned of aligned taxonomyactivities) activities) eligible % DKK m % % % % % % % % % %Manufacture of other low carbon technologies CCM 3.6 33.0 2,866 19.6 19.6 0 0 0 0 0 100 0 59.5Sum of alignment per objective 19.6 0 0 0 0 0Total KPI (Revenue) 33.2 2,866 19.6 19.6 0 0 0 0 0 100 0 59.1CAPEX2025 Environmental objective of taxonomy aligned activitiesEconomicCode  Taxonomy TaxonomyTaxonomy Climate Change Climate Change Water  Circular Pollution   Biodiversity EnabelingTransitionalProportion ofeligible  KPI  aligned KPI aligned KPI Mitigation Adaptation Economy  activities (A activities  (A taxonomy Activities porportion of porportion of aligned in aligned activites)aligned activites)taxonomyeligible % DKK m % % % % % % % % % %Manufacture of other low carbon technologies CCM 3.6 1 7.8 28 3.7 3.7 0 0 0 0 0 100 0 21.0Acquisition and ownership of buildings C C M 7. 7 60.2 92 12.4 12.4 0 0 0 0 0 0 100 20.5Sum of alignment per objective 16.1 0 0 0 0 0Total KPI (CAPEX ) 78.0 120 16.1 16.1 0 0 0 0 0 23 77 20.613 In 2025, FLSmidth has assessed the OPEX KPI to be immaterial for reporting. 14 Excluded from revenue is activitity, 8.2 'Data-driven solutions for GHG emissions reductions' due to immateriality. Total eligible revenue related to the activity was 0.2% in 2025. EU Taxonomy§  Accounting policies Taxonomy-eligible revenueEligible revenue includes external revenue generated from equipment and technologies that substantially reduce GHG emissions in the relevant process by improving or enabling energy efficiency or enabling the use of alternative fuels. Eligible revenue includes the sale of products, solutions, and spare and wear parts. These technologies and products must meet the Article 16 requirements, namely not lead to a lock-in of assets that undermines long-term environmental goals. They must also have a substantial positive environmental impact based on life cycle considerations.Eligible products and activities are categorised either as “3.6 Manufacture of other low carbon technologies” or “8.2 Data-driven solutions for GHG emissions reduc-tions”, contributing substantially to climate change mitigation. The categorisation of each product removes the risk of double-counting revenue across economic activities. The denominator of the revenue KPI is “total revenue”. See on page 10. No allocation keys were used in revenue.Taxonomy-eligible CAPEXEligible CAPEX reflects a portion of our additions to intangible assets and property, plant and equipment (including capitalised leases), including those from busi-ness combinations. Eligible CAPEX includes any of the following types of spend:a.  Related to assets that are associated with taxono-my-eligible economic activitiesb.  Part of a plan to expand taxonomy-aligned economic activities or to allow taxonomy-eligible economic activities to become taxonomy-aligned (“CAPEX plan”)c.  Related to the purchase of output from taxonomy-el-igible economic activities“3.6 Manufacture of other low carbon technologies” and “8.2 Data-driven solutions for GHG emissions reduc-tions”, which reflect our revenue-generating activities. This includes capitalised R&amp;D related to eligible prod-ucts and assets related to the production of eligible equipment. An allocation key was applied to CAPEX items Plant and machinery, and Operating equipment, fixtures and fittings to reflect CAPEX related to assets used in the production of eligible equipment. The allo-cation key was applied using the eligible revenue KPI. Capitalised R&amp;D is identified at project level.We assess our CAPEX related to land and buildings, including capitalised leases under the economic activity “7.7 Acquisition and ownership of buildings”.Information related to property, plant and equip-ment, including capitalised leases and acquisitions, is disclosed in note 2.4. Information related to capitalised R&amp;D activities is disclosed in note 2.2 to the consoli-dated financial statements.We assess CAPEX eligibility under the output of economic activities related mainly to the following categories: “7.3 Installation, maintenance and repair of energy efficiency equipment”; “7.4 Installation, main-tenance and repair of charging stations for electric vehicles in buildings (and parking spaces attached to buildings)”; “7.5 Installation, maintenance and repair of instruments and devices for measuring, regulation and controlling energy performance of buildings”; and “7.6 Installation, maintenance and repair of renewable energy technologies”. Activities must be specifically outlined as an individual measure listed under the substantial contribution criteria to be considered as eligible CAPEX.To avoid double-counting of CAPEX additions, we ensure that identified spend or initiatives are cate-gorised under only one economic activity, rather than apportioning them across multiple activities.Taxonomy-aligned revenueThis refers to aligned, revenue-generating eligible equipment and technologies with substantial GHG emissions reductions. This is a subset of eligible revenue, where a product or technology meets the required screenings outlined in Annex I for Climate Change Mitigation, Regulation (EU) 2020/852. They include substantial contribution, DNSH and minimum safeguards screenings.No allocation keys were used in revenue.Taxonomy-aligned CAPEXAligned CAPEX reflects the portion of eligible CAPEX that fulfils the criteria for substantial contribution, DNSH and minimum safeguards screenings and includes any of the following:a.  Related to assets that are associated with taxono-my-aligned economic activitiesb.  Part of a plan to expand taxonomy-aligned economic activities or to allow taxonomy-eligible economic activities to become taxonomy-aligned (“CAPEX plan”)c.  Related to the purchase of output from taxono-my-aligned economic activitiesAligned CAPEX from “3.6 Manufacture of other low Aligned CAPEX from “3.6 Manufacture of other low carbon technologies” and “8.2 Data-driven solutions for GHG emissions reductions” is driven by capitalised R&amp;D related to taxonomy-aligned products and tech-nologies, as well as assets related to the production of aligned products and technologies.An allocation key was applied to CAPEX items Plant and machinery, and Operating equipment, fixtures and fittings to reflect CAPEX related to assets used in the production of EU taxonomy-aligned products and technologies. The allocation key was applied using the aligned revenue KPI.CAPEX related to the output of economic activities related to 7.1 to 7.6, as outlined under eligible CAPEX, is considered aligned if the activity meets the relevant substantial contribution and DNSH screening criteria outlined under Annex I for Climate Change Mitigation or Annex II for Climate Change Adaptation.Taxonomy Eligible OPEXIn 2025 FLSmidth has assessed the OPEX KPI to be immaterial. OPEX assessed under the EU taxonomy requirements, relates to expensed R&amp;D activities, and non-direct costs related to production.</mrv:DescriptionofTheTaxonomyRegulation>
   <fsa:AverageNumberOfEmployees contextRef="ctx-1"
                                 decimals="0"
                                 id="f1__s9__7__46"
                                 unitRef="pure">5716</fsa:AverageNumberOfEmployees>
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                                 decimals="0"
                                 id="f1__s9__8__46"
                                 unitRef="pure">6030</fsa:AverageNumberOfEmployees>
   <sob:StatementByExecutiveAndSupervisoryBoards contextRef="ctx-1" id="f1__s9__7__163" xml:lang="en">The Board of Directors and the Executive Leadership have today considered and approved the Annual Report for the financial year 1 January – 31 December 2025.The consolidated financial statements are prepared in accordance with IFRS Accounting Standards as adopted by the EU. The Parent company financial statements are prepared in accordance with the Danish Financial State-ments Act.Further, the Annual Report is prepared in accordance with additional requirements of the Danish Financial Statements Act.In our opinion, the consolidated financial statements and the Parent company financial statements give a true and fair view of the Group’s and the Parent company’s finan-cial position at 31 December 2025 as well as of the results of their operations and the consolidated cash flows for the financial year 1 January – 31 December 2025.The sustainability statement is prepared in accordance with the European Sustainability Reporting Standards ESRS as required by the Danish Financial Statements Act paragraph 99a as well as article 8 in the EU Taxonomy regulation.In our opinion, the management’s review gives a fair review of the development in the Group’s and the Parent company’s activities and financial matters, results of operations, consolidated cash flows and financial posi-tion as well as a description of material risks and uncer-tainties that the Group and the Parent company face.In our opinion, the annual report for the financial year 1 January – 31 December 2025 with the file name 213800MXXDGQ3ITPXI41-2025-12-31-en.zip is prepared, in all material respects, in compliance with the ESEF Regulation.We recommend the Annual report for adoption at the Annual General Meeting.</sob:StatementByExecutiveAndSupervisoryBoards>
   <sob:PlaceOfSignatureOfStatement contextRef="ctx-1" id="f1__s9__7__164" xml:lang="en">Copenhagen</sob:PlaceOfSignatureOfStatement>
   <sob:DateOfApprovalOfAnnualReport contextRef="ctx-1" id="f1__s9__7__165">2026-02-18</sob:DateOfApprovalOfAnnualReport>
   <cmn:NameAndSurnameOfMemberOfExecutiveBoard contextRef="ctx-38" id="f1__s9__7__166" xml:lang="en">Toni Laaksonen</cmn:NameAndSurnameOfMemberOfExecutiveBoard>
   <cmn:TitleOfMemberOfExecutiveBoard contextRef="ctx-38" id="f1__s9__7__167" xml:lang="en">CEO</cmn:TitleOfMemberOfExecutiveBoard>
   <cmn:NameAndSurnameOfMemberOfExecutiveBoard contextRef="ctx-39" id="f1__s9__7__168" xml:lang="en">Roland M. Andersen</cmn:NameAndSurnameOfMemberOfExecutiveBoard>
   <cmn:TitleOfMemberOfExecutiveBoard contextRef="ctx-39" id="f1__s9__7__169" xml:lang="en">CFO</cmn:TitleOfMemberOfExecutiveBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-40" id="f1__s9__7__170" xml:lang="en">Mads Nipper</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <cmn:TitleOfMemberOfSupervisoryBoard contextRef="ctx-40" id="f1__s9__7__171" xml:lang="en">Chair</cmn:TitleOfMemberOfSupervisoryBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-41" id="f1__s9__7__172" xml:lang="en">Christian Bruch</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <cmn:TitleOfMemberOfSupervisoryBoard contextRef="ctx-41" id="f1__s9__7__173" xml:lang="en">Vice chair</cmn:TitleOfMemberOfSupervisoryBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-42" id="f1__s9__7__174" xml:lang="en">Anne Louise Eberhard</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-43" id="f1__s9__7__175" xml:lang="en">Thrasyvoulos Moraitis</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-44" id="f1__s9__7__176" xml:lang="en">Anna Kristiina Hyvönen</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-45" id="f1__s9__7__177" xml:lang="en">Lars Engström</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-46" id="f1__s9__7__178" xml:lang="en">Rune Wichmann</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-48" id="f1__s9__7__180" xml:lang="en">Nour Amrani</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-47" id="f1__s9__7__179" xml:lang="en">Saleh Kamal</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-49" id="f1__s9__7__181" xml:lang="en">Henrik Jørgensen</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <arr:AddresseeOfAuditorsReportOnAuditedFinancialStatements contextRef="ctx-1" id="f1__s9__7__184" xml:lang="en">To the shareholders of  FLSmidth &amp; Co. A/S</arr:AddresseeOfAuditorsReportOnAuditedFinancialStatements>
   <arr:OpinionOnAuditedFinancialStatements contextRef="ctx-1" id="f1__s9__7__185" xml:lang="en">OpinionWe have audited the consolidated financial state-ments and the parent company financial statements of FLSmidth &amp; Co. A/S for the financial year 1 January – 31 December 2025, which comprise income statement, balance sheet, statement of changes in equity and notes, including material accounting policy information, for the Group and the Parent Company, and a consolidated statement of comprehensive income and a consolidated cash flow statement. The consolidated financial state-ments are prepared in accordance with IFRS Accounting Standards as adopted by the EU and additional require-ments of the Danish Financial Statements Act, and the parent company financial statements are prepared in accordance with the Danish Financial Statements Act.In our opinion, the consolidated financial statements give a true and fair view of the financial position of the Group at 31 December 2025 and of the results of the Group's operations and cash flows for the financial year 1 January – 31 December 2025 in accordance with IFRS Accounting Standards as adopted by the EU and addi-tional requirements of the Danish Financial Statements Act.Further, in our opinion the parent company financial statements give a true and fair view of the financial posi-tion of the Parent Company at 31 December 2025 and of the results of the Parent Company's operations for the financial year 1 January – 31 December 2025 in accord-ance with 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:DescriptionOfQualificationsOfAuditedFinancialStatements contextRef="ctx-1" id="f1__s9__7__186" xml:lang="en">Basis for opinionWe 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 statements" (hereinafter collectively referred to as "the financial statements") section of our report. We believe that the audit evidence we have obtained is suffi-cient and appropriate to provide a basis for our opinion.IndependenceWe are independent of the Group in accordance with the International Ethics Standards Board for Accountants' International Code of Ethics for Professional Account-ants (IESBA Code), as applicable to audits of financial statements of public interest entities, and the additional ethical requirements applicable in Denmark to audits of financial statements of public interest entities. We have also fulfilled our other ethical responsibilities in accord-ance 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 auditorWe were initially appointed as auditor of FLSmidth &amp; Co. A/S on 30 March 2017 for the financial year 2017. We have been reappointed annually by resolution of the general meeting for a total consecutive period of 9 years up until the financial year 2025.</arr:DescriptionOfQualificationsOfAuditedFinancialStatements>
   <arr:KeyAuditMattersAudit contextRef="ctx-1" id="f1__s9__7__187" xml:lang="en">Key audit mattersKey audit matters are those matters that, in our profes-sional judgement, were of most significance in our audit of the financial statements for the financial year 2025. 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 matter is provided in that context.We have fulfilled our responsibilities described in the "Auditor's responsibilities 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 assessment of the risks of material misstatement of the financial statements. The results of our audit procedures, including the procedures performed to address the matters below, provide the basis for our audit opinion on the financial statements.Revenue from contracts with customers recognised over timeThe material accounting policy information and disclo-sures about revenue recognition, trade receivables, work in progress and provisions related to revenue from contracts with customers recognised over time are included in notes 1.4, 2.7, 3.3 and 3.4 to the consolidated financial statements. FLSmidth deliver products and services (projects in the form of more complex product bundles with engineering), which usually have a significant contract price and typi-cally extends over more than one financial year. Due to the nature of these projects and in accordance with the accounting policy, FLSmidth recognises and measures revenue from such long-term projects over time based on the cost-to-cost method.Accounting for revenue with customers recognised over time involve significant management judgments in respect of estimating the cost to complete the projects, including risk contingencies, warranties, liquidated damages, claims and the expected time to comple-tion as well as the risk of credit losses related to such recognised projects and related customer receivables. Together with the impact from executing projects in parts of the world where macro-economic and geopo-litical factors as well as various on-going conflicts may have an adverse effect, changes in these estimates during the execution of projects can significantly impact the revenue, cost and contribution recognised. Accord-ingly, we considered the accounting for revenue with customers recognised over time to be a key audit matter for the consolidated financial statements.How our audit addressed the key audit matterAs part of our procedures, we assessed the judgments made by management regarding the estimated costs to complete the projects and the assumptions made in assessment of warranty provisions by comparing these on a sample basis to underlying accounting records and supporting documentation. We assessed the changes in estimated project cost and risk contingencies by comparing these to budgets, latest estimates and under-lying documentation on a sample basis, and discussed these with project accounting, project management and group management. We further assessed management’s judgements regarding exposures related to claims and liquidated damages for projects and provisions to miti-gate contract-specific financial risks as well as the risk of credit losses on such recognised projects and related customer receivables. For those balances subject to claims, we made inquiries of legal counsel. Valuation of inventoriesThe material accounting policy information and disclo-sures about inventories are included in note 3.2 to the consolidated financial statements. FLSmidth carries inventories in the balance sheet at the lower of cost and net realisable value. The inventories include strategic items, which are held in inventory, even if slow moving, because they are considered key equip-ment for the customers that FLSmidth needs to be able to deliver with short notice. The valuation of inventories involves management judgements to determine whether inventories are still technically relevant when demand for the inventory items is expected. The current market conditions are also considered. Accordingly, we consid-ered this to be a key audit matter for the consolidated financial statements.How our audit addressed the key audit matter As part of our procedures, we analysed the ageing of inventories recorded and obtained on a sample basis supporting documentation regarding valuation of slow-moving items. Further, we assessed manage-ment’s judgements in respect of the expected market demand and expected sales price for significant aged items by comparing these on a sample basis to available supporting documentation.</arr:KeyAuditMattersAudit>
   <arr:StatementOnManagementsReviewAuditorsReportOnAuditedFinancialStatements contextRef="ctx-1" id="f1__s9__7__188" xml:lang="en">Statement on the Management's reviewManagement is responsible for the Management's review.Our opinion on the financial statements does not cover the Management's review, and we do not as part of our audit express any assurance conclusion thereon.In connection with our audit of the financial statements, our responsibility is to read the Management's review and, in doing so, consider whether the Management's review is materially inconsistent with the financial state-ments, 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 regulations. This does not include the requirements in paragraph 99a related to the sustain-ability statement covered by the separate auditor’s limited assurance report hereon.Based on our procedures, we conclude that the Manage-ment's review is in accordance with the financial state-ments 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:StatementOfExecutiveAndSupervisoryBoardsResponsibilityForFinancialStatements contextRef="ctx-1" id="f1__s9__7__189" xml:lang="en">Management's responsibilities for the financial statementsManagement is responsible for the preparation of consolidated 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 Statements Act and for the preparation of parent company financial statements that give a true and fair view in accordance with the Danish Financial Statements Act. Moreover, Management is responsible 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 concern and using the going concern basis of accounting in preparing the financial statements unless Manage-ment either intends to liquidate the Group or the Parent Company or to cease operations, or has no realistic alter-native but to do so.</arr:StatementOfExecutiveAndSupervisoryBoardsResponsibilityForFinancialStatements>
   <arr:StatementOfAuditorsResponsibilityForAuditAndAuditPerformed contextRef="ctx-1" id="f1__s9__7__190" xml:lang="en">Auditor's responsibilities for the audit of the financial statementsOur 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 assur-ance, but is not a guarantee that an audit conducted in accordance with ISAs and additional requirements appli-cable in Denmark will always detect a material misstate-ment when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, 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 judgement and maintain profes-sional 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 respon-sive 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 misstate-ment 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 circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Group's and the Parent Company's internal control.•  Evaluate the appropriateness of accounting policies used and the reasonableness 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 uncer-tainty 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 disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence 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 financial statements, including the note disclosures, and whether the financial state-ments 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 business units 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 independence, and to commu-nicate 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 regulation precludes public disclosure about the matter.</arr:StatementOfAuditorsResponsibilityForAuditAndAuditPerformed>
   <arr:AuditorsReportOnXbrlTagging contextRef="ctx-1" id="f1__s9__7__191" xml:lang="en">Report on compliance with the ESEF Regulation As part of our audit of the Consolidated Financial State-ments and Parent Company Financial Statements of FLSmidth &amp; Co. A/S, we performed procedures to express an opinion on whether the annual report of FLSmidth &amp; Co. A/S for the financial year 1 January – 31 December 2025 with the file name 213800MXXDGQ3ITPXI41-2025-12-31-en.zip is prepared, in all material respects, in compliance 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 complies 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 elements in the taxonomy, for all financial information required to be tagged using judgement where necessary; •  Ensuring consistency between iXBRL tagged data and the Consolidated 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 judge-ment, 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 elements selected from the ESEF taxonomy and the creation of extension elements where no suitable element in the ESEF taxonomy has been iden-tified; •  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 FLSmidth &amp; Co. A/S for the financial year 1 January – 31 December 2025 with the file name 213800MXXDGQ3ITPXI41-2025-12-31-en.zip is prepared, in all material respects, in compliance with the ESEF Regulation.</arr:AuditorsReportOnXbrlTagging>
   <arr:SignatureOfAuditorsPlace contextRef="ctx-1" id="f1__s9__7__192" xml:lang="en">Copenhagen</arr:SignatureOfAuditorsPlace>
   <arr:SignatureOfAuditorsDate contextRef="ctx-1" id="f1__s9__7__193">2026-02-18</arr:SignatureOfAuditorsDate>
   <cmn:NameOfAuditFirm contextRef="ctx-51" id="f1__s9__7__195" xml:lang="en">EY Godkendt Revisionspartnerselskab</cmn:NameOfAuditFirm>
   <cmn:NameOfAuditFirm contextRef="ctx-50" id="f1__s9__7__194" xml:lang="en">EY Godkendt Revisionspartnerselskab</cmn:NameOfAuditFirm>
   <cmn:IdentificationNumberCvrOfAuditFirm contextRef="ctx-50" id="f1__s9__7__196">30700228</cmn:IdentificationNumberCvrOfAuditFirm>
   <cmn:IdentificationNumberCvrOfAuditFirm contextRef="ctx-51" id="f1__s9__7__197">30700228</cmn:IdentificationNumberCvrOfAuditFirm>
   <cmn:NameAndSurnameOfAuditor contextRef="ctx-50" id="f1__s9__7__198" xml:lang="en">Jan C. Olsen</cmn:NameAndSurnameOfAuditor>
   <cmn:NameAndSurnameOfAuditor contextRef="ctx-51" id="f1__s9__7__201" xml:lang="en">Claus Kronbak</cmn:NameAndSurnameOfAuditor>
   <cmn:DescriptionOfAuditor contextRef="ctx-50" id="f1__s9__7__199" xml:lang="en">State Authorised  Public Accountant</cmn:DescriptionOfAuditor>
   <cmn:IdentificationNumberOfAuditor contextRef="ctx-50" id="f1__s9__7__200">mne33717</cmn:IdentificationNumberOfAuditor>
   <cmn:DescriptionOfAuditor contextRef="ctx-51" id="f1__s9__7__202" xml:lang="en">State Authorised  Public Accountant</cmn:DescriptionOfAuditor>
   <cmn:IdentificationNumberOfAuditor contextRef="ctx-51" id="f1__s9__7__203">mne28675</cmn:IdentificationNumberOfAuditor>
   <arr:AuditorsReportOnSubstainabilityReport contextRef="ctx-1" id="f1__s9__7__205" xml:lang="en">Independent auditor's limited assurance report on sustainability statement To the shareholders of FLSmidth &amp; Co. A/SLimited assurance conclusionWe have conducted a limited assurance engagement on the sustainability statement of FLSmidth &amp; Co. A/S (the group ) included in the Annual Report 2025, pages 53-121 (the sustainability statement) for the financial year 1 January – 31 December 2025 including disclosures incor-porated by reference listed on page 62.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 sustaina-bility statement is not prepared, in all material respects, in accordance with the Danish Financial Statements Act paragraph 99 a, 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 state-ment (the process) is in accordance with the descrip-tion set out in the section Double materiality assess-ment on pages 57-58 and•  compliance of the disclosures in the section EU Taxonomy within the environmental section on pages 87-89 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 engage-ments other than audits or reviews of historical 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 assur-ance engagement been performed.We believe that the evidence we have obtained is suffi-cient and appropriate to provide a basis for our conclu-sion. Our responsibilities under this standard are further described in the Auditor's responsibilities for the assur-ance engagement section of our report. Our independence and quality managementWe are independent of the group in accordance with the International Ethics Standards Board for Accountants' International Code of Ethics for Professional Account-ants (IESBA Code) and the additional ethical require-ments applicable in Denmark. We have also fulfilled our other ethical responsibilities in accordance with these requirements and the IESBA Code.EY Godkendt Revisionspartnerselskab applies Interna-tional Standard on Quality Management 1, which requires the firm to design, implement and operate a system of quality management including policies or procedures regarding compliance with ethical requirements, profes-sional standards and applicable legal and regulatory requirements.Inherent limitations in preparing the sustainability statementIn 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 statementManagement is responsible for designing and imple-menting a process to identify the information reported in the sustainability statement in accordance with the ESRS and for disclosing this Process in the sections Double materiality assessment on pages 57-58 of the sustainability statement. This responsibility includes:•  understanding the context in which the group's activ-ities and business relationships take place and devel-oping 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 sustaina-bility matters by selecting and applying appropriate thresholds; and•  making assumptions that are reasonable in the circum-stances.Management is further responsible for the preparation of the sustainability statement, in accordance with the Danish Financial Statements Act paragraph 99a, including: •  compliance with the ESRS; •  preparing the disclosures in in the section EU Taxonomy within the environmental section on pages 87-89 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 sustaina-bility reporting methods and making assumptions and estimates that are reasonable in the circumstances.Auditor's responsibilities for the assurance engagementOur 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. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence deci-sions 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 judge-ment and maintain professional 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 effec-tiveness of the process, including the outcome of the process;•  Considering whether the information identified addresses the applicable 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 sections Double materiality assessment on pages 57-58.  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 omis-sions, misrepresentations, or the override of internal control.Summary of the work performedA limited assurance engagement involves performing procedures to obtain evidence about the sustainability statement. The nature, timing and extent of procedures selected depend on professional judgement, including the iden-tification 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's was consistent with the description of the Process set out in the sections Double materiality assessment on pages 57-58.In conducting our limited assurance engagement, with respect to the sustainability statement, we:•  Obtained an understanding of the group's reporting processes relevant to the preparation of its sustain-ability 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 activities, 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 sustainability statement are in accordance with the ESRS;•  Performed inquiries of relevant personnel and analyt-ical procedures on selected information in the sustain-ability statement;•  Performed substantive assurance procedures on selected information in the sustainability statement;•  Evaluated methods, assumptions and data for devel-oping material estimates and forward-looking infor-mation and how these methods were applied;•  Obtained an understanding of the process to identify EU taxonomy eligible and aligned economic activities for turnover, CAPEX and OPEX and the corresponding disclosures in the sustainability statements;•  Evaluated compliance processes, methods, and data for covered activities, assessed minimum safe-guards compliance through personnel inquiries, and conducted analytical procedures on EU taxonomy aligned disclosures•  Evaluated the presentation and use of EU taxonomy templates in accordance with relevant requirements;•  Reconciled and ensured consistency between the reported EU taxonomy economic activities and the items reported in the primary financial statements including the disclosures provided in related notes.</arr:AuditorsReportOnSubstainabilityReport>
   <arr:AddresseeOfAuditorsReportOnSubstainabilityReports contextRef="ctx-1" id="f1__s9__7__206" xml:lang="en">To the shareholders of FLSmidth &amp; Co. A/S</arr:AddresseeOfAuditorsReportOnSubstainabilityReports>
   <arr:IdentificationOfMattersOnWhichAssuranceReportIsProvidedAndDescriptionOfAssuranceEngagementSubstainabilityReport contextRef="ctx-1" id="f1__s9__7__207" xml:lang="en">We have conducted a limited assurance engagement on the sustainability statement of FLSmidth &amp; Co. A/S (the group ) included in the Annual Report 2025, pages 53-121 (the sustainability statement) for the financial year 1 January – 31 December 2025 including disclosures incor-porated by reference listed on page 62.</arr:IdentificationOfMattersOnWhichAssuranceReportIsProvidedAndDescriptionOfAssuranceEngagementSubstainabilityReport>
   <arr:OpinionOnSubjectMatterOfAssuranceReportSubstainabilityReport contextRef="ctx-1" id="f1__s9__7__208" xml:lang="en">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 sustaina-bility statement is not prepared, in all material respects, in accordance with the Danish Financial Statements Act paragraph 99 a, 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 state-ment (the process) is in accordance with the descrip-tion set out in the section Double materiality assess-ment on pages 57-58 and•  compliance of the disclosures in the section EU Taxonomy within the environmental section on pages 87-89 of the sustainability statement with Article 8 of EU Regulation 2020/852 (the Taxonomy Regulation).</arr:OpinionOnSubjectMatterOfAssuranceReportSubstainabilityReport>
   <arr:StatementOfAuditorsResponsibilitySubstainabilityReport contextRef="ctx-1" id="f1__s9__7__209" xml:lang="en">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. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence deci-sions 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 judge-ment and maintain professional 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 effec-tiveness of the process, including the outcome of the process;•  Considering whether the information identified addresses the applicable 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 sections Double materiality assessment on pages 57-58.  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 omis-sions, misrepresentations, or the override of internal control.</arr:StatementOfAuditorsResponsibilitySubstainabilityReport>
   <arr:SignatureOfSubstainabilityAuditorsPlace contextRef="ctx-1" id="f1__s9__7__210" xml:lang="en">Copenhagen</arr:SignatureOfSubstainabilityAuditorsPlace>
   <arr:SignatureOfSubstainabilityAuditorsDate contextRef="ctx-1" id="f1__s9__7__211">2026-02-18</arr:SignatureOfSubstainabilityAuditorsDate>
   <cmn:NameOfAuditFirmSubstainability contextRef="ctx-53" id="f1__s9__7__213" xml:lang="en">EY Godkendt Revisionspartnerselskab</cmn:NameOfAuditFirmSubstainability>
   <cmn:NameOfAuditFirmSubstainability contextRef="ctx-52" id="f1__s9__7__212" xml:lang="en">EY Godkendt Revisionspartnerselskab</cmn:NameOfAuditFirmSubstainability>
   <cmn:IdentificationNumberCvrOfAuditFirmSubstainability contextRef="ctx-52" id="f1__s9__7__214">30700228</cmn:IdentificationNumberCvrOfAuditFirmSubstainability>
   <cmn:IdentificationNumberCvrOfAuditFirmSubstainability contextRef="ctx-53" id="f1__s9__7__215">30700228</cmn:IdentificationNumberCvrOfAuditFirmSubstainability>
   <cmn:NameAndSurnameOfSubstainabilityAuditor contextRef="ctx-52" id="f1__s9__7__216" xml:lang="en">Jan C. Olsen</cmn:NameAndSurnameOfSubstainabilityAuditor>
   <cmn:NameAndSurnameOfSubstainabilityAuditor contextRef="ctx-53" id="f1__s9__7__219" xml:lang="en">Margrethe B. Bergkvist</cmn:NameAndSurnameOfSubstainabilityAuditor>
   <cmn:DescriptionOfSubstainabilityAuditor contextRef="ctx-52" id="f1__s9__7__217" xml:lang="en">State AuthorisedPublic Accountant</cmn:DescriptionOfSubstainabilityAuditor>
   <cmn:fIdentificationNumberOfSubstainabilityAuditor contextRef="ctx-52" id="f1__s9__7__218">mne33717</cmn:fIdentificationNumberOfSubstainabilityAuditor>
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   <cmn:fIdentificationNumberOfSubstainabilityAuditor contextRef="ctx-53" id="f1__s9__7__221">mne34312</cmn:fIdentificationNumberOfSubstainabilityAuditor>
   <gsd:TelephoneNumberOfReportingEntity contextRef="ctx-1" id="f1__s9__7__224" xml:lang="en">+45 36 18 18 00</gsd:TelephoneNumberOfReportingEntity>
   <gsd:EmailOfReportingEntity contextRef="ctx-1" id="f1__s9__7__225" xml:lang="en">corppr@flsmidth.com</gsd:EmailOfReportingEntity>
   <gsd:HomepageOfReportingEntity contextRef="ctx-1" id="f1__s9__7__226">www.flsmidth.com</gsd:HomepageOfReportingEntity>
   <gsd:InformationOnTypeOfSubmittedReport contextRef="ctx-1" id="f1__s1__72__15">Annual report</gsd:InformationOnTypeOfSubmittedReport>
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   <gsd:ReportingPeriodStartDate contextRef="ctx-1" id="f1__s1__72__20">2025-01-01</gsd:ReportingPeriodStartDate>
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