Assets

Type	Time	Amount	Unit
ifrs-full:Assets	2025-12-31	17467000000	dkk
ifrs-full:Assets	2024-12-31	16115000000	dkk

Revenue

Type	Start date	End date	Amount	Unit
ifrs-full:Revenue	2025-01-01	2025-12-31	5521000000	dkk
ifrs-full:Revenue	2024-01-01	2024-12-31	5070000000	dkk

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   <mrv:StatementOfPolicyForDataEthics contextRef="ctx-1" id="f1__s9__7__22" xml:lang="en">Data ethicsCPH is committed to taking advantage of the possibilities offered by data and digital processes to evolve our services and offerings to our stakeholders.To ensure due ethical considerations when developing new initiatives, our Data Ethics Policy sets out our standards for accountability, transparency and equal treatment. The policy extends beyond legal compliance, setting a framework for safeguarding the development of digital and data-based services and procedures.As we evolve, we are increasingly leveraging machine learning, object detection and advanced algorithms to enhance the CPH experience for our stakeholders across operational, security and safety areas. Currently, these technologies are primarily utilised for capacity optimisation. We ensure that all AI/ML models and calculations are developed and deployed within our established ethical framework, prioritising accuracy and fairness in our automated insights.We gather and process data in connection with the security in the airport area, and in order to provide various services to passengers, employees and visitors. We follow established procedures for processing personal data as well as systematically monitoring for any issues regarding compliance with these procedures. As and when required, we report data protection issues to the Danish Data Protection Agency in accordance with GDPR and our internal data protection processes.CPH has appointed a Data Protection Officer (DPO) in line with the requirements of GDPR. The DPO monitors our compliance with data protection rules and reports to the Executive Management at least annually, in the event of data breaches and ad hoc if deemed necessary.</mrv:StatementOfPolicyForDataEthics>
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   <mrv:SustainabilityReport contextRef="ctx-1" id="f1__s9__7__24-1" xml:lang="en">this sustainability statement. In situations where actual data is not available from our value chain partners, CPH is working to set up measures enabling collec-tion of such data, and expects to incrementally increase the accuracy of the estimations in future reporting periods. None of the presented metrics in this statement have been subject to additional external validation. The largest uncertainties in CPH’s quantitative reporting relate to carbon footprint scope 3 calcu-lations. For purchased goods, services and capital goods, a substantial share of emissions is derived from spend-based factors, which are inherently less accurate and could be improved by shifting to activity-based data. Another significant source of estimation is catchment traffic. As CPH is a multimodal transport hub, data is collected from multiple sources covering passengers, employees CPH  Annual Report 2025 and daily commuters who use CPH's transport infrastructure. Estimates are therefore required to isolate and include only passenger and employee travel in the carbon accounting.Changes and errorsAs part of our sustainability data maturity process, we have updated, and will continue to update, comparative figures as more accurate and reliable data becomes available, including where errors have occurred or methodological improvements have been made. Energy consumption and mixRestatements have been made to comparative figures due to an classification error of self-gen-erated solar energy and a completeness error in reported fuel consumption where certain data was inadvertently omitted. In addition, a method-ological improvement relating to the classification and data availability of renewable energy sources has been implemented. These adjustments enhance the accuracy and comparability of the reported data and affect the associated GHG emission calculations. See table 1 on page 56.GHG emissionsRestatements have been made to comparative figures for scope 1 and scope 3 emissions. For scope 3, improved data and methodology for catchment traffic and validated energy data, combined with a correction for an incorrectly applied emission factor in scope 3.3 resulted in revised figures. For scope 1, restatements relate to completeness errors, where certain data was omitted inadvertently. Further details are provided in the footnotes of the E1-6 table on page 58.Pollution of airThe number of UFP has been corrected for an error in previous reporting, and comparative figures have been updated accordingly. See table 1 on page 67.Pollution of waterWe have corrected an error in previous reporting related to an incorrect averaging method and punctuation error, and have restated comparative figures accordingly to improve accuracy. See table 2 on page 67.Noise pollutionAn update has been made to the historical index number for noise, to correct for an error stem-ming from an incorrect calculation approach. See table 6 on page 69.Resource outflowsWe have revised the presentation of the waste data table to ensure ESRS alignment and to correct prior reporting errors resulting from incor-rect population of the table. Comparative figures have been restated accordingly. See table 1 on page 77. Social dataThe table relating to S1-14 and S2 has been further disaggregated to distinguish between absences of more and less than one day (number of recordable work-related accidents and LTIF). S1-14 Rate of absence due to illness has been further disaggregated to distinguish between operational and corporate roles. Compara-tive figures have been updated to correct for completeness error. In addition, the presentation of the table relating to S1-6 has been revised to disclose gender distribution, correcting an error in previous reporting. Comparative figures have been updated accordingly. Restatements are made to S1-16 comparative figures to correct for completeness error. See pages 91 and 93. Exercised phase-insWe have chosen to apply the “Quick Fix” Dele-gated Regulation extending ESRS phase-in reliefs found in ESRS 1 Appendix C where appropriate. This refers specifically to the phase-in option for value chain data for metrics, information on ESRS sectors and anticipated financial effects.Disclosure requirements incorporated by referenceThe full list of disclosure requirements covered can be found on page s 112-114, complemented by a list of disclosure requirements incorporated by reference outside the sustainability statement on pag e 114.Governance ESRS 2 GOV-1  The role of the administrative, management &amp; supervisory bodiesOur commitment to sustainability is anchored at the highest level of governance, with the Board of Directors and the Executive Management playing a central role. The Executive Management has overall responsibility for preparing and presenting the sustainability statement as part of the consol-idated annual report. In alignment with this, the Executive Management is also accountable for overseeing sustainability and climate-related impacts, risks and opportunities, including the approval of targets and the implementation of policies and actions to mitigate negative impacts.To further embed sustainability across the organ-isation, several functions are actively engaged in setting goals and targets, as well as developing action plans for social and governance matters. While sustainability is a shared responsibility across the organisation, the effort is anchored in the Sustainability department, which serves as the central coordinating body for sustainability-related matters. This integrated approach ensures that sustainability is not only a strategic priority but also a shared responsibility throughout CPH.Reporting and internal controls related to the identification, assessment and management of sustainability-related impacts, risks and oppor-tunities — as well as other sustainability matters — follow the same internal governance struc-ture as general reporting. The primary point of engagement is the Chief Sustainability Officer (CSO), followed by the Executive Management. When warranted by the subject matter, oversight is extended to the Audit and Risk Management Committee (ARMC) and the Board of Directors.The Sustainability department plays a central role in the structure around sustainability matters and provides subject matter expertise. It comprises four specialised teams: Energy Management, Environmental Management &amp; Compliance, Sustainability Development and Strategic Part-nerships &amp; Innovation. The department is led by the CSO, who reports directly to the Executive Management which is responsible for the devel-opment and implementation of the sustainability strategy, including the DMA. The preparation of the sustainability statement represents a strong collaboration between the Sustainability and Finance departments. The Board of Directors and the Executive Manage-ment are well positioned to evaluate sustainability matters related to the operation of an airport. Collectively, they bring extensive experience from other listed companies and possess deep knowl-edge of airport operations. This expertise provides valuable insight into assessing the effects of the identified IROs within the context of CPH, thereby strengthening the quality and relevance of our sustainability governance. The governance struc-ture established for the DMA process, cf. section ESRS 2-IRO-1, is described in more detail on page 45. For information on the Board of Directors and the Executive Management, including their roles, composition and experience, gender distribution and targets, please refer to the Corporate Govern-ance section on pages 32-36. Gender distribution and targets for both the Board of Directors and the Executive Management are described on page 92. ESRS 2 GOV-2  Information provided to and sustainability matters addressed by the undertaking’s administrative, management and supervisory bodiesThroughout the year, material sustainability matters and relevant developments are regularly reported to the Executive Management, and subsequently to the ARMC and the Board of Directors. This structured reporting ensures that governance bodies are kept informed of develop-ments in sustainability matters and can exercise effective oversight. Governance bodies are kept informed through structured reporting flows. Strategic sustainability updates are provided to the Corporate Leadership Team (CLT) every four months during a dedicated session, supplemented by quarterly reports on key performance indicators and initiatives. This ensures that sustainability considerations are firmly embedded in decision-making processes at the highest levels of the organisation, reinforcing CPH’s commitment to responsible governance and long-term value creation.In 2025, the Executive Management and the Board of Directors focused on strengthening the govern-ance and internal control environment for sustain-ability reporting. Key activities included overseeing the refinement of the DMA methodology and monitoring progress on key strategic sustainability programmes. Biodiversity and nature emerged as new priority topics following the publication of our first ESRS-aligned sustainability statement in 2024, and these topics received increased attention from management throughout 2025. As a part of the annual report process, all material IROs disclosed were approved by the Executive Management, the ARMC and the Board of Direc-tors. A full list of our IROs is provided on page 48. ESRS 2 GOV-3  Integration of sustainability-related performance in incentive schemes  E1 Disclosure requirement related to ESRS 2 GOV-3The Remuneration Policy for the Executive Management is strategically designed to align compensation with our organisational objectives, with a primary focus on ensuring long-term sustainable business development while remaining competitive and attractive to employees and investors. CPH’s compensation framework inte-grates sustainability performance metrics to drive strategic alignment. The Executive Management's incentive schemes encompass environmental objectives, including scope 1 and 2 emission reduction targets and waste management-related targets. Additionally, we emphasise fostering an equitable and inclusive organisational culture while maintaining a zero-fatality workplace safety record.The proportion of total expensed remuneration to the Executive Management linked to performance against climate-related performance targets for 2025 amounted to 2,6% for STI and LTI. The proportion of total expensed variable remunera-tion (STI and LTI) to the Executive Management linked to performance against all ESG-related targets for 2025 corresponded to 8,5%. The Remuneration Committee provides govern-ance by annually reviewing and approving these incentive schemes, ensuring their continued relevance and effectiveness. This systematic approach guarantees that our compensation stra- tegy remains aligned with our broader organisa-tional mission and sustainability objectives. For a comprehensive detailed description of manage-ment remuneration and incentive structures, please refer to the Remuneration Report: www.cph.dk/en/about-cph/investor/remuneration ESRS 2 GOV-4  Statement on due diligence  A table outlining our application of due diligence for people and environment, as well as the loca-tion in the sustainability statement, is included on pag es 119 -120. ESRS 2 GOV-5  Risk management and internal controls over sustainability reportingTo mitigate the risk of material misstatements arising from potential human error or data incom-pleteness, we have established internal control systems to manage sustainability reporting risks. These systems are built around defined targets, policies and controls, and are subject to contin-uous improvement through an annual risk assess-ment. This assessment is informed by our double materiality methodology and enterprise risk management framework, and evaluates poten-tial errors based on materiality, complexity and likelihood. Reporting on controls will be carried out periodically in accordance with our internal controls for financial reporting.CPH’s control framework includes key sustaina-bility reporting areas, reviewing existing controls, and implementing new ones as needed – as a minimum on an annual basis. Accounting manuals have been implemented, and are reviewed on an annual basis. Segregation of duties regarding metric disclosures has been improved during the reporting period through the implementation of formalised accounting manuals. The manuals define three levels of responsibility, with the highest accountable data sponsor being a member of the CLT. This sustain-ability governance process includes ARMC over-sight and accounting methodologies in line with ESRS requirements for sustainability information.To enhance the integrity of reported data, a four-eye principle has been implemented for the review of both accounting manuals and sustaina-bility data, ensuring critical disclosures are subject to dual verification. As part of this process, an ongoing evaluation of material aspects of sustain-ability reporting has been established. CPH remains strongly committed to ensuring the accuracy and reliability of both financial and sustainability reporting, and has therefore intro-duced a process for updating and verifying the contents of sustainability accounting.Strategy ESRS 2 SBM-1  Strategy, business model and value chainCPH's business spans both infrastructure and services relating to air traffic in our locations in the Greater Copenhagen area. This also includes rental and concession income from leasing properties, parking facilities, and cargo and passenger air transportation. Our business model is described in further detail on page 14 of our Management’s review. Our value chain is illustrated on page 48, based on information gathered across multiple functions within CPH, each of which provided expertise throughout the materiality assessment.It is a strategic priority for CPH to continuously work towards a reduction of our impact on the environment, as well as the related social impacts. Stakeholders, including passengers, local commu-nities and partners, have been involved in the development of the sustainability strategy by proxy through surveys and various forums hosted by CPH. CPH’s sustainability strategy is structured around four established environmental programmes, each designed to support our environmental and social targets and contribute to the development additional programmes within social sustainability in the coming years.Our established programmes comprise a number of focus areas:CircularityWe aim to operate and develop CPH with respect for the earth’s finite resources. We have set targets to drive the organisation towards a more circular opera-tion, and we strive to use less, better and for longer. DecarbonisationDecarbonising the aviation industry is a significant challenge, and the journey towards a net zero airport is complex with many unknowns. CPH is committed to achieving net zero emissions from its own operations by 2030 while developing a comprehensive strategy to reduce emissions across its broader value chain. This means we will reduce the emissions from our own operations by 90% compared to 2019. Our emission reduction plan is further elaborated on in E1-1 on pages 51-53.NatureCPH will address our impacts on nature, both directly and through our value chain, to understand our dependencies on nature. The programme encompasses considerations of the natural surroundings and an understanding of the importance of biodiversity and ecosystem func-tions. PollutionCPH is committed to addressing the environmental impact of daily airport operations. We are actively working to reduce air pollution, minimise noise disturbances in the surrounding areas, and protect soil and water resources.Value chain overview ESRS 2 SBM-2  Interests and views of stakeholdersStakeholder engagement occurs organically as an integrated part of fulfilling our role as critical infrastructure, when we work closely with part-ners to deliver the best possible airport experience for passengers and customers. Engaging with our stakeholders enables us to identify and under-stand material matters, providing the foundation for developing targeted solutions and initiatives that support improved and more sustainable operations. The perspectives and insights shared through ongoing dialogue help us continuously refine our strategic approach and ensure that our sustainability efforts remain relevant, responsive and aligned with stakeholder expectations. Embedding sustainability into our business model and across the value chain is a collaborative effort — and a cornerstone of advancing our sustaina-bility goals. For example, mitigating noise impacts from airport operations is a strategic priority that requires coordinated action across multiple stakeholders, including airlines, ground handlers and air traffic control. This shared responsibility reflects our integrated approach to sustainability, where progress depends on strong partnerships and collective commitment.Our overall strategy is determined by the Board of Directors with input from the entire organisation. With regard to sustainability impacts, the Board of Directors and the Executive Management are regularly informed of stakeholder views and inter-ests through survey findings and key insights from dialogues with stakeholder groups — including customers, passengers, employees, affected communities and regulatory bodies. These inputs, together with the presentation of the annual double materiality assessment, support informed decision-making and help ensure that CPH’s sustainability strategy remains aligned with stake-holder expectations and regulatory requirements.The following value chain visualisation depicts our material impacts, risks and opportunities in our value chain, and the stakeholder overview shows how we engage with our key stakeholders and the outcome of these engagements.Stakeholder engagementKey stakeholders Engagement Purpose of engagement Outcome from engagementPassengers, business We engage with our passengers and customers/business part-Aligning our business goals to drive mutual success.  · Long-term development of partnerships with tenants and airlines, partners and customersners through a variety of channels. In the case of passengers, we building trust and enabling investments in long-term solutions and interact through surveys and online information on flights, etc. investments.  · Establishing innovative solutions to enhance the passenger experi-We foster a strong partnership with our business partners/ence.customers. The collaboration with this group of stakeholders is  · Providing seamless travel through the airport for our passengers. implemented through regular strategic meetings and day-to-day management of the close relationships within the ecosystem of companies operating at the airport.Employees We engage with our employees through surveys, day-to-day We strive to foster a collaborative and meaningful workplace  · Health and safety performance. communication and training.through leadership communication, training and personal devel- · Employee satisfaction. opment, where employees feel safe to raise concerns and suggest  · Training and development. improvements to the current state of affairs. · Fostering a culture of business integrity. Suppliers Our communication with suppliers takes place through ongoing Ensuring a respectful working environment. · Streamlined supplier expectations and enabling efficient operations.negotiation of contracts, our Supplier Code of Conduct and Compliance with our Code of Conduct. · Informed selection of suppliers.continuous feedback and interaction on ongoing supplier relation-Continously working to improve access to the airport through both ships.private and public transportation partnerships.Government/regulators Continous dialogue with policymakers/government officials Balancing the future need for airport capacity in Copenhagen to  · Ensuring regulatory compliance, creating value and mitigating risks. relating to environmental requirements, future capacity levels, etc.meet public demands. · Promoting a responsible expansion of CPH and the route network Ensuring compliance with environmental requirements.from Denmark. · Aligning our business model and strategy.Industry bodies Participation in relevant boards under the trade organisations DI Providing and obtaining relevant input for airports and the aviation  · Providing input on proposed policies through public consultations, and DE, in strategic alliences and partnerships with international industry.and building relationships.key industry stakeholders, and participation in public consultations. · Development of joint solutions for lower-emission aviation.Owners We engage with owners through the Annual General Meeting. Enhancing transparency and alignment.  · Aligning sustainability strategy, targets and performance.Our major shareholders also seek engagement via appointed representatives through e.g. board meetings and the quarterly and annual reporting process.Local communities We engage with neighbours, municipalities and other local stake-Addressing community concerns, answering questions and  · Insight regarding expectations and concerns, along with construc-holders through public meetings, social media and consultations.providing feedback. tive dialogue on actions and possibilities. ESRS 2 IRO-1  Description of the process to identify and assess material impacts, risks and opportunitiesIn 2025, we conducted a review of our 2024 DMA, refining the methodology to strengthen strategic relevance and regulatory compliance. The DMA is reviewed annually to ensure it continues to support CPH’s strategic decisions and priorities.  Summary of 2024 DMA process methodologyIn 2024, we conducted an ESRS-aligned DMA to identify actual and potential IROs across the value chain. Internal stakeholders categorised as subject matter experts (SMEs) in relation to the DMA were engaged to provide insights, including proxy perspectives from key stakeholders. The assessment was informed by SASB standards and ESRS 1 AR 16 topics, and validated against EFRAG guidance to ensure relevance and completeness. Stakeholder input was gathered through surveys, SME interviews and proxy information from dialogue with affected stakeholders in our value chain. While no scenario analysis was performed for the purpose of the DMA, physical and tran-sition risks were evaluated using SME expertise and GHG Protocol principles. Special attention was given to activities with a heightened risk of adverse impact, including pollution and biodiver-sity risks, with ESRS-aligned time horizons. Materiality scoring followed a structured frame-work aligned — where applicable — with CPH’s enterprise risk management, including materiality scoring and thresholds. Impact materiality is based on severity and likelihood, while financial materi-ality is considered through magnitude and proba-bility. All IROs were scored and validated through cross-functional SME workshops. The process was supported by a new governance structure, with results reviewed by the Executive Management and the Board of Directors.  Summary of 2025 DMA review process methodologyIn 2025, we introduced a structured review process to enhance ESRS alignment, auditability and strategic relevance. This included reassess-ment of material topics, a revised scoring frame-work, updated value chain analysis and improved alignment with our enterprise risk management approach.The review began by evaluating the 2024 DMA results and methodology. Updates were made to reflect new developments in business activities, ownership structure and regulatory expectations. Desktop research was conducted to identify industry-specific topics and peer practices, and internal stakeholders were engaged to vali-date the relevance of existing IROs and identify emerging sustainability matters for CPH.  Stakeholder engagement and data collection  Interviews and workshops with SMEs were held to enhance our IRO long-list, and to provide a more detailed understanding of material sustain-ability matters and their origins. SMEs across business areas assessed IRO descriptions, scoring dimensions, time horizons and value chain place-ment. Their input was validated through iterative feedback loops, ensuring that each IRO was reviewed by multiple SMEs. External stakeholder perspectives were integrated through SME proxies and ongoing engagement activities, and peer benchmarking was used to enhance the assess-ment’s robustness.  Reassessment of IROsAll IROs were reassessed using updated scoring methodologies aligned with EFRAG IG 1 guid-ance and CPH’s ERM framework. Each IRO was evaluated across multiple dimensions. New IROs were defined based on increased granularity and existing IROs were refined or merged to improve clarity and traceability.  Results and approval To ensure consistency, each IRO’s rationale and scoring were verified with SMEs. Material IROs were grouped under ESRS and mapped to disclosure requirements. Immaterial disclosure requirements were descoped. The DMA results were compared to CPH’s ERM system and stra-tegic framework to ensure alignment. A detailed description of CPH’s overall risk landscape can be found in the Risk management section on page 28 of the Management’s review. The results of the DMA were reviewed and approved in accordance with our sustainability governance and internal controls, as described in the GOV-2 and GOV-5 sections, with final sign-off by the Executive Management, ARMC and the Board of Directors. Changes in materiality between 2024 and 2025 are described in section ESRS 2 SBM-3. The prioritisation of sustainability matters is supported by qualitative and quantitative data collected by CPH and appointed third parties. Regulation that CPH is in scope of also directs the prioritisation of sustainability matters.  Disclosure requirements related to ESRS 2 IRO-1The details of the processes to identify impacts, risks and opportunities for each topical standard are described below. These processes were first conducted as part of our 2024 DMA, and subse-quently revisited and refined during the 2025 review.  E1 - Climate changeIn 2024, we evaluated GHG emissions and their effects on climate change, with a particular focus on direct emissions from our own operations and our value chain. This assessment formed a key part of our process for assessing climate-related IROs. Climate-related physical risks were consid-ered by assessing CPH’s risk exposure on opera-tions and assets, both upstream and downstream. Additionally, we considered climate-related transi-tion risks and opportunities within our operations and value chain, identifying potential transition events and analysing their potential impact on CPH’s business model. In 2025, this process was revisited to reflect updated data and stakeholder input. We have not conducted a scenario-based resilience analysis for the IRO identification process. The materiality of these risks was determined with input from internal SMEs, who acted as proxies for external stakeholders. The results of the assessment were reviewed and validated by senior management.E2 - Pollution, E3 - Water and marine resources, E4 - Biodiversity and ecosystems and E5 - Resource use and circular economyTo identify and assess actual and potential IROs related to pollution, biodiversity and resource use stemming from CPH’s business activities, inter-views with SMEs were first conducted in 2024, then revisited with additional stakeholder input in 2025. The process included screening all assets and activities across the value chain. Site-spe-cific locations were assessed comprising Copen-hagen Airport and Roskilde Airport. We have not conducted a biodiversity-related resilience analysis.As a part of ongoing stakeholder engagement, we collect input from regulatory bodies and affected communities through several touchpoints, such as our Local Dialogue Forum, consultations and neighbour meetings. Perspectives collected through these channels informed the process, though affected communities were not directly consulted regarding the identified IROs specifically.The identification and assessment of biodiversity and ecosystem dependencies, as well as transition and physical risks, were not included in the scope of the DMA review, nor were considerations of systemic risks. As a result of the DMA process in 2024 and the review in 2025, E3 was not consid-ered material.G1 - Business conductThe identification of IROs related to business conduct matters involved mapping key activities and locations within CPH’s own operations and value chain, first performed in 2024 and revis-ited in 2025. This process focused on areas with elevated potential risks or impacts, including bribery, corruption and human rights violations.Impact, risk and opportunity management ESRS 2 IRO-2  Disclosure requirements covered by the sustainability statement and datapoints deriving from other EU legislation  A table outlining material disclosure requirements can be found on pa ges 112-114.A table outlining datapoints from cross-cutting and topical standards that derive from other EU legislation can be found on pages 115-121. ESRS 2 SBM-3  Material impacts, risks and opportunities and their interaction with strategy and business modelIn 2025, several changes in materiality were observed. Climate change (E1) is now double material, with climate change adaptation becoming financially material, noise pollution was added as a new entity-specific material subtopic of Pollution (E2), and local community impacts replaces the previous entity-specific topic of noise pollution in Affected communities (S3). The subtopic direct drivers of biodiversity loss is material, adding a new subtopic to Biodiversity and ecosystems (E4). The subtopic Personal safety of consumers (S4) is now double material, Political engagement and lobbying (G1) was reassessed as immaterial, and Corruption and bribery remains impact material only. The identified environmental impacts and risks are closely linked to the strategic efforts encompassed by our sustainability strategy, which is described further on page 51. Some of the environmental impacts are also reflected in the identified social and governance impacts. It is a continued priority for CPH to ensure that our identified IROs are a holistic representation of our responsibility as an organisation, and that this is continuously materi-alised through our sustainability strategy.We believe we have a robust process for identi-fying IROs and performing the DMA, and contin-uously review and renew our strategy to support our resilience and deliver responsible growth. Balancing growth with environmental and social responsibility is essential to our strategy. For more information on risks and resilience, please refer to the Risk management section on page 28. Based on our assessment of material IROs, we have not identified any current or future financial effects that present a significant risk of material adjust-ment to CPH’s financial position or the carrying amount of assets within the next reporting period. While our financial operation is impacted by efforts to mitigate negative impacts and enhance positive sustainability-related outcomes, these activities are fully integrated into our functional operations, and therefore it is not possible to specify costs and effects relating to IROs from our ordinary business activities in a meaningful way. In respect of financial resources relating to action plans described in the topic chapters, there are currently no action plans that require a material amount of either OPEX or CAPEX in excess of our normal operating budgets.   The material IROs identified during the materiality assessment are all covered by ESRS disclosure requirements and additional entity-specific disclo-sures, and are presented in the topic chapters, including both an explanation of where the IROs are located in our value chain (own operations, upstream, downstream) and the time horizon (short, medium and long term). CPH has not estimated the anticipated financial impacts of the listed IROs, but strategic implications are described where relevant. 47EnvironmentAt CPH, we are aware of our impact on the climate and environment, and we want to live up to the responsibility this entails. Since the 1980s, we have worked towards reducing our impacts, and we continuously strive to be and do better. In the following chapters, we detail our efforts towards reducing our impacts and risks within areas such as emissions, noise, pollution and air quality.E1 Climate changeGHG emissions from aircraft operationsWhereAircraft operations generate significant GHG emissions. These emissions result from the combustion Downstreamof fossil jet fuel and contribute to global warming. Aircraft emissions constitute the majority of our total GHG footprint. To address this impact, we are working to strengthen our engagement with Timeairlines and the air traffic service provider to implement more fuel-efficient traffic management Short termprotocols. Moreover, we are contributing to research and development in low-carbon aviation and Medium termcollaborating with stakeholders to develop solutions for more sustainable aviation.Long termIROActual negative  impactGHG emissions from ground transportation at, to and from the airportsWhereOverground transportation of passengers and cargo by road and rail generates significant GHG Upstreamemissions. These transportation activities contribute to global warming and account for a significant Downstreamproportion of our total GHG footprint. We are addressing our ground transport emissions as part of our broader climate change mitigation strategy, focusing on investments that support low-carbon Timesurface access transportation to and from the airports while expanding our publicly available EV Short termcharging infrastructure.Medium termLong termIROActual negative  impactEnergy consumptionGHG emissions from energy use on siteWhereCPH and its partners consume significant amounts of electricity, district heating, natural gas, diesel Own operationsand gasoline to operate buildings as well as to perform maintenance and ground handling activities. This generates GHG emissions that contribute to global warming, as a large proportion of this energy Timeis of fossil origin. We are prioritising energy efficiency measures and the decarbonisation of our energy Short termsystems in our transition plan. In this regard, we are pursuing procurement and on-site generation of Medium termrenewable electricity, the phase-out of natural gas heating, and a broad portfolio of energy efficiency Long termretrofits in our built environment. IROActual negative  impactE Climate changeAddressing climate change is central to CPH's strategy, and the following impacts and risk have been assessed as material.Material impacts, risks and opportunitiesE1 Climate changeClimate change adaptationClimate change and extreme weather events impacting operational continuityWhereClimate change is expected to increase the frequency and severity of extreme weather events such Upstreamas storms, heavy rainfall and heatwaves. These events pose a physical risk to the continuity of our Own operationsoperations, construction activities and the integrity of airport infrastructure. For example, flooding Downstreamof runways, pressure on water and wastewater systems, and increased cooling demands during heatwaves can disrupt daily operations and lead to increased financial costs and affect CPH’s role as Timecritical infrastructure in the broader transportation system. If adaptation measures are insufficient, Short termthe financial consequences of climate-related disruptions could be severe. We are addressing this risk Medium termthrough climate adaptation planning in collaboration with strategic partners and stakeholders, and we Long termexpect to develop measures in the coming years. IROFinancial riskClimate change mitigationGHG emissions from construction activitiesWhereConstruction activities generate significant greenhouse gas (GHG) emissions, which arise primarily Upstreamfrom energy use during raw material extraction and transportation, energy use and chemical reactions during manufacturing, and energy use during transportation of materials to CPH. Building materials Timewith the highest levels of embodied GHG emissions include steel, concrete, asphalt, mineral wool, Short termglass and plastics. The impact is material due to its scale and direct link to our infrastructure projects. Medium termTo mitigate it, we are integrating lifecycle assessments, piloting circular design principles, improving Long termdemolition for reuse, and prioritising low-carbon solutions in project planning. IROActual negative  impactAt CPH, we recognise our role in mitigating climate impacts and advancing the transition towards a low-carbon future. As a critical hub for international travel, we are committed to reducing our own emissions while enabling a more sustainable aviation industry. We remain committed to achieving net zero emissions from our own operations by 2030, supported by energy efficiency measures and the ongoing transition to renewable energy.  Strategy E1-1  Transition plan for climate change mitigationWe are committed to aligning our strategy and business model with the transition to a sustain-able economy. Our aim is to play a crucial role in providing low-impact, climate-resilient airport infrastructure, contribute to research and devel-opment within sustainable aviation fuels, ensure access to low-carbon aviation fuel and optimise air traffic management for energy-efficient ground operations. Our near-term scope 1 and 2 emission reduction target is aligned with the goals of the Paris Agree-ment, following a more ambitious decarbonisa-tion trajectory than that required to limit global warming to 1.5°C. Targets were developed in accordance with the methodology of the Science Based Targets initiative’s Corporate Net-Zero Standard, but have not been submitted for valida-tion. Our transition plan addresses scope 1 and 2 emissions in full, while not yet fully compliant with ESRS requirements for scope 3, pending reassass-ment of our scope 3 target.Our scope 3 emissions are to a high degree driven by externalities over which CPH has very limited influence. The adoption of the ReFuelEU Aviation Sustainable Aviation Fuel mandate has provided greater certainty around the adoption of biogenic and synthetic aviation fuels towards 2050; however, the industry still faces great uncertainty around the extent to which hydrogen and electric aircrafts will be adopted in the future — both of which are needed to achieve a net zero aviation sector by 2050. Emissions from passenger and cargo surface access transportation are also largely driven by externalities outside of CPH’s control. These externalities include the rate of private EV uptake in Denmark and the rate at which public transportation companies decarbonise their opera-tions. Finally, terminal expansion and gate renova-tion to accommodate more passengers and larger aircrafts are expected to significantly impact our scope 3 emissions trajectory. We have identified several decarbonisation levers to address these emissions, including circular construction practices and low-carbon building materials. The extent to which these can be implemented will depend on financial and regulatory conditions. In 2025, we developed a detailed scope 3 decar-bonisation roadmap, which has provided a deeper understanding of our value chain emissions. Based on this analysis, we have concluded that achieving net zero emissions across the full value chain by 2050 is highly uncertain under current technolog-ical and regulatory conditions. We are therefore revisiting our long-term scope 3 target to ensure it reflects both our ambition and the realities of the aviation sector. This reassessment does not affect our commitment to reducing scope 3 emissions where possible, and we remain committed to mitigating our value chain emissions as effectively as possible. We continue to work actively with stakeholders to identify and implement impactful measures.Our transition plan is built around key actions: · Leveraging low-carbon technologies · Resource optimisation · Stakeholder engagementIn 2025, we further identified, developed and prioritised a series of decarbonisation levers to align with our GHG emission reduction targets (see E1-4) and the associated climate change miti-gation actions (see E1-3). These measures encom-pass our scope 1, scope 2 and scope 3 emissions across our operations and value chain.The first critical lever relates to reducing scope 1 and 2 emissions by leveraging lower-carbon technologies in our own operations. This entails accelerating the ongoing electrification of our vehicle and equipment fleet and the use of lower climate impact fuels. Moreover, we are ensuring the sustainability of our electricity consumption through on-site solar electricity generation, an offshore wind power purchase agreement and a portfolio of energy efficiency projects. More infor-mation on actions taken in 2025 can be found in E1-3. To manage our supply chain emissions, we will continue to strengthen our approach to supplier engagement and circular resource management, striving for materials and consumables used in operations and infrastructure projects to be utilised efficiently and with documented, lower lifecycle emissions. Circular construction practices, such as prefabrication and reuse of materials, will play a key role in reducing our emissions from facility maintenance and infrastructure projects.In 2026, we will continue to deepen our engage-ment with airlines and other key stakeholders in efforts to reduce emissions from air traffic operations through the implementation of more fuel-efficient air traffic management protocols. To address ground transportation emissions, we are encouraging sustainable modes of commuting for employees, incentivising low-emission taxis, expanding our EV charging infrastructure, and investigating low-emission transportation solu-tions across our operations and partnerships.In addition to the above GHG reduction levers, we are procuring high-quality, third-party-verified carbon removal credits from the voluntary carbon markets corresponding to our GHG emissions from scope 1, scope 2 and business travel (scope 3 – category 6). For further information about GHG removals and GHG mitigation projects, see E1-7.Our plan integrates these levers into our busi-ness model and strategy, ensuring feasibility and achievability. By leveraging these decarbonisation measures, we aim to meet our emission reduction targets while helping catalyse sustainable devel-opment across our value chain.The transition plan, approved by the Executive Management and the Board of Directors, is embedded into our overall business strategy and financial planning through our annual strategic and financial planning process. Our transition plan is part of our Responsible Growth strategy, with sustainability guiding us towards a net zero emission airport. Sustainability policies, actions and targets are approved on an iterative basis and reviewed at the end of each financial year. The Board of Directors has formalised risk tolerances in relation to both physical and transition risks. We acknowledge the importance of under-standing and managing potential locked-in GHG emissions from our assets. Our approach to asset management accounts for both economic and climate parameters, ensuring we balance finan-cial prudency with meeting our GHG reduction targets. Our GHG-intensive assets are considered limited in scale and stem mainly from our vehicle fleet, heating systems, refrigerants and de-icing substances. These potentially locked-in GHG emis-sions are considered locked-in due to economic end-of-life constraints, limited availability of viable low-carbon substitutes or operational safety requirements. The lock-in effects are assessed to be mainly short and medium term and collectively represent a minor share of our scope 1 and 2 emissions. Based on current analysis, these emis-sions do not materially affect our ability to achieve and maintain a net zero balance in scope 1 and 2. Our asset management approach ensures phased replacement at end-of life and continued evalua-tion of emerging low-carbon alternatives.Our approach to allocating OPEX and CAPEX to our transition plan is dynamic and responsive. We conduct an annual review and adjustment process during our budget planning cycle, which allows us to maintain flexibility and optimise our cost strategy. By avoiding long-term fixed financial commitments, we remain agile in our investment approach and can continuously refine our allo-cation strategy, ensuring we pursue the most cost-effective pathway towards achieving our decarbonisation objectives. Accordingly, we have not yet fully quantified the total OPEX and CAPEX required to execute the entire transition plan. Instead, we apply a structured allocation method-ology that allows us to direct financial resources towards the most impactful and cost-effective decarbonisation levers based on evolving insights and priorities.In 2025, we analysed investment needs and marginal abatement costs for a wide range of decarbonisation levers across scope 1, 2 and 3. This work strengthens our ability to make increas-ingly targeted and measurable investments, and enhances transparency and accountability in how we align our financial planning with our long-term sustainability goals. We have, however, not made a detailed cost allocation plan.Due to the nature of our business, alignment with the EU Taxonomy criteria remains difficult, but with the continued implementation of the transi-tion plan we expect to see higher alignment levels in the years to come. Currently we do not have a firm goal for alignment; however we will in the coming years work to establish thresholds for our desired alignment ambitions. For more detail on how we classify our OPEX and CAPEX in accord-ance with the EU Taxonomy, see page 78. CPH made significant progress in implementing the transition plan in 2025. Since 2019, we have reduced our combined scope 1 and 2 (market-based) emissions by 89.9%, due primarily to our procurement of renewable electricity via a power purchase agreement, a range of energy efficiency measures, vehicle electrification and biofuel use. In 2025, our scope 1 and 2 (market-based) emis-sions fell by 89.2% relative to 2024. This reduc-tion was achieved primarily through our new power purchase agreement, the implementation of hydrotreated vegetable oil biodiesel (HVO100) for all compatible vehicles and equipment in Q2, and a reduction in the GHG intensity of our district heating supply. For more information on actions taken, refer to E1-3. CPH is not excluded from the Paris-aligned benchmarks.Impact, risk and opportunity management E1-2  Policies related to climate change mitigation and adaptationCPH has implemented policies to ensure timely and effective identification, assessment and management of material environmental impacts, risks and opportunities. Our Environmental Policy ensures that we operate our airports in an envi-ronmentally responsible manner, starting with full compliance with all relevant environmental, climate and energy regulations. The policy further reflects our commitment to proactively imple-ment concrete actions to continuously improve our environmental performance, with a focus on preventing and reducing our negative envi-ronmental impacts, including, but not limited to, greenhouse gas emissions and the discharge of air, water and soil pollutants.Our environmental performance is continuously monitored. Environmental conditions are assessed based on the double materiality assessment framework, which is updated annually.Our Environmental Policy covers resource management, climate change mitigation and adaptation, biodiversity and pollution, addressing both our own operations and the broader upstream and downstream value chain.CPH's Energy Policy specifically focuses on the management of electricity, district heating and natural gas across our facilities. The policy commits us to compliance with applicable energy regulations, continuous optimisation of energy consumption, and a gradual increase in the share of renewable energy, in alignment with the requirements of our ISO 50001 energy manage-ment certification.We are currently in the process of developing new sustainability-related policies, which will be implemented in 2026. These policies are overseen by our Chief Sustainability Officer and are acces-sible to all CPH employees and lessees of CPH real estate assets. The responsibility for updating the policies lies with our Sustainability department, and the policies are approved by our Board of Directors. E1-3  Actions and resources in relation to climate change policiesCPH is committed to achieving the objectives outlined in our Environmental Policy and in our Energy Policy. In the following, we outline the actions taken and planned as part of our strategy to achieve these objectives.Our plan for meeting our climate-related Environ-mental Policy objectives and our 2030 net zero target for emissions from own operations entails leveraging low-carbon technologies and, resource optimisation and stakeholder engagement. These levers are integral to reducing emissions, improving efficiency and fostering collaboration with our partners across the value chain.Executing these actions successfully depends in large part on the availability and allocation of financial resources. Resource availability is assessed and funds allocated in connection with CPH's annual strategic and financial planning cycle.Leveraging low-carbon technologies in our operationsA central element of our transition plan is the electrification of our operations and the replace-ment of fossil fuels with renewable energy solu-tions to reduce our scope 1, 2 and 3 emissions. Our emission reduction roadmap for scope 1 and 2 can be found on page 55. We are continuing to work on our strategy for decreasing the use of natural gas and we continue to increase the share of electric vehicles and equipment used in our operations. CPH’s buildings are heated using a mix of district heating, natural gas and electricity, of which natural gas has the highest GHG intensity. In 2025, we saw a marked reduction in the GHG intensity of our purchased district heating, which has made it possible for CPH to reach andmain-taina net zero balance in scope 1 and 2 without a completenaturalgasphase-out. In light of this development, we are reassessing the scope and timing of the planned natural gas phase-out to determine whether the associated capital invest-ments would deliver greater impact if redirected towards scope 3 decarbonisation initiatives. As this process is still ongoing, no gas boilers were replaced in 2025.In Q2 2025, HVO100 was introduced for use in all compatible diesel-powered vehicles and motorised equipment operated by CPH. HVO100 is a type of renewable biodiesel produced primarily from used cooking oil and waste animal fats, offering a significantly lower climate impact compared to conventional diesel fuels. We consider HVO100 to be a transitional solution and expect to reduce our consumption of it considerably towards 2030 as we continue to electrify our fleet of vehicles and other motorised equipment. To improve the sustainability of our electricity use, we are implementing a range of energy efficiency building retrofits while pursuing both on-site renewable energy generation and market-based renewable energy procurement.In 2024, we signed a power purchase agreement (PPA) with Vattenfall to source 100% of our electricity from two wind farms off the coast of Jutland. Since 1 January 2025, this agreement has ensured that the electricity consumed in CPH’s own operations and downstream leased assets is matched with renewable energy generation from Vattenfall’s offshore wind farms. In 2025, CPH and its tenants procured 101 GWh of renewable electricity via the PPA.Resource optimisationTo address our consumption-based scope 3 emissions, we are focusing on supplier engage-ment and circular resource management. We are working to procure consumables and capital goods with documented, lower lifecycle emissions and to utilise them more efficiently in our oper-ations. We are also investigating practices such as prefabrication and material reuse in infrastruc-ture projects with the objective of reducing our emissions from construction activities. In 2025, we identified key material hotspots with high embodied GHG emissions from a wider portfolio of material categories, namely steel, concrete, asphalt, glass and brick. To support more sustainable construction, life-cycle assessments and sustainability screenings are now integrated into project planning. Our ambi-tion is for selected pilot projects to build practical experience of circular design and low-carbon materials. We are also improving demolition processes to maximise reuse and recycling, and exploring design-for-disassembly approaches to extend material lifespans. As we expand and renovate terminal buildings to meet future capacity needs, we aim to apply circular principles and low-carbon solutions wher-ever possible. Implementation will be guided by technical, financial and regulatory considerations, with climate impact remaining a key factor in decision-making.Stakeholder engagementOur commitment to mitigate transport-related emissions both on the ground and in the air extends to our collaboration with employees, passengers, tenants, airlines and ground handling companies. We are therefore partnering with key industry stakeholders to develop joint solutions. As a component of our ISO 50001 energy management certification, we engage with our tenants to identify economically feasible energy efficiency measures. In 2025, structured engage-ments with our tenants led to energy efficiency gains in our downstream leased assets.Collaboration with airlines, the air traffic service provider and ground handling companies is of critical importance for reducing emissions from aircraft and ground support operations. CPH is working with these partners to facilitate the adoption of fuel-efficient air traffic management protocols and to accelerate the adoption of battery-electric equipment in ground handling operations. As these actions are ongoing and dialogue-based, we cannot report on specific outcomes in 2025. Moreover, we are working actively to reduce emissions from ground transportation to and from Copenhagen Airport by expanding our EV charging infrastructure. In 2025, the total number of charging points reached 561 in total, increasing by 99 new installations since 2024, accompanied by a 136% rise in electricity delivered thorugh the charging infrastructure.Climate change adaptation  CPH has participated in a working group led by the Ministry of Transport focused on current and future storm surge adaptation needs for the Greater Copenhagen area. This collaboration has resulted in four co-financed reports. The final report, published in April 2025, addresses the financing and governance of storm surge protec-tion and concludes that CPH, as well as other major infrastructure owners, faces risks from future extreme storm surges, including physical damage and operational disruptions.Permanent adaptation measures are expected to be developed in the coming years led by Sund &amp; Bælt under the Ministry of Transport. Sund &amp; Bælt is to conduct an environmental impact assessment for a flood protection system extending around Copenhagen Airport to the east and contin-uing south from the airport towards the Ullerup and West Amager dikes in the southwest. The protection system is intended to safeguard critical infrastructure, including Copenhagen Airport and the Øresund Motorway and Railway. In parallel, throughout 2025 CPH was developing an adaptation plan for increased precipitation and cloudbursts. The plan aims to assess hazard levels and explore shared socioeconomic pathways to support near- and short-term climate resilience planning.Metrics &amp; targets E1-4  Targets related to climate change mitigation and adaptationWe have established specific targets to mitigate our negative climate impacts in line with our Environmental Policy objectives. These targets reflect our commitment to mitigate our nega-tive impacts on the environment and contribute to efforts to limit global warming to 1.5°C. We review and update our environmental targets annually, assessing their feasibility and ambition. Likewise, our environmental management plans are updated at least once a year to ensure they are scientifically grounded and achievable.Achieve net zero emissions from own operations by 2030We are committed to achieving net zero GHG emissions from our own operations by 2030. To achieve net zero, we will reduce our scope 1 and scope 2 (market-based) emissions by 90% by 2030 against the 2019 baseline. To compensate for our residual scope 1 and 2 emissions, we will procure high-quality carbon removal credits that are verified against credible third-party standards. Refer to the Scope 1 and 2 roadmap figure below, which shows a business-as-usual scenario and the reduction potential of each decarbonisation lever over time (in light blue and yellow shades), keeping our residual emissions (dark blue) under our net zero target. The roadmap assumes a 24% increase in electricity consumption in 2030 rela-tive to 2024 resulting from building expansion, increased electric vehicle use and the electrification of heating systems. All electricity consumed by CPH will be procured from renewable sources via a PPA to ensure that our increased electricity consumption does not result in an increase in GHG emissions. To achieve the targeted 90% emission reduc-tion, we are electrifying our fleet of vehicles and equipment, using renewable fuels where possible, decreasing our use of natural gas, procuring renew-able electricity and implementing a broad range of energy efficiency measures. Moreover, efforts on the part of our district heating supplier to reduce the GHG intensity of its operations are contributing meaningfully to reductions in our scope 2 emissions.The net zero target has been established using the cross-sectoral, absolute contraction target-set-ting methodology described in SBTi’s Corporate Net-Zero Standard. This target has not been vali-dated by SBTi and was set without external stake-holder involvement. We are currently revisiting our long-term scope 3 emission reduction target based on insights from our 2025 decarbonisation roadmap. For more information, see E1-1.Monitoring progressMonitoring is integral to the success of our transi-tion plan and actions. Progress towards meeting our net zero 2030 targets is tracked by the Sustainability team, with regular updates provided to the Chief Sustainability Officer, the Corporate Leadership Team and the Board of Directors. We are committed to reporting on progress against these targets annually through GHG emission reporting.We conduct reviews to ensure that our targets remain on track and aligned with our strategic ambition and external developments. In 2025, this included an ongoing review of our long-term scope 3 emission reduction target.  E1- 5   Energy consumption and mix CPH’s energy consumption and mix are disclosed in the following table.Table 1: Energy consumption and mix2025 2024    1. Fuel consumption from coal and coal products (MWh)    0 01  2. Fuel consumption from crude oil and petroleum products (MWh)   3,603 7,7862  3. Fuel consumption from natural gas (MWh)    5,767 5,802  4. Fuel consumption from other fossil sources (MWh)    0 0  5.  Consumption of purchased or acquired electricity, heat, steam and cooling from fossil sources (MWh)    1,175 4 4,154  6. Total fossil energy consumption (MWh) (calculated as the sum of lines 1 to 5)    10,545 57,742  6. Share of fossil sources in total energy consumption (%)    11% 60%  7. Consumption from nuclear sources (MWh)    161 4,360  6. Share of consumption from nuclear sources in total energy consumption (%)    0% 5%  8.  Fuel consumption for renewable sources, including biomass (also comprising industrial 3and municipal waste of biologic origin, biogas, renewable hydrogen, etc.) (MWh)   3,627 259  9.  Consumption of purchased or acquired electricity, heat steam and cooling from renew-4able sources (MWh)   75,314 31,266510. The consumption of self-generated non-fuel renewable energy (MWh)   2,912 2,41011.  Total renewable energy consumption (MWh) (calculated as the sum of lines 8 to 10)   81,852 33,935  6. Share of renewable sources in total energy consumption (%)   88% 35%Total energy consumption (MWh) (calculated as the sum of lines 6, 7 and 11)    92,558 96,037123 Adjusted from 7,049 due to completeness error. Adjusted from 3,333 due to improved methodology. Adjusted from 1,828 due to improved method-4 5 ology. Adjusted from 33,195 due to classification error. Adjusted from 2,191 due to better data quality. Table 2: Energy intensity per net revenue  % change 2025 2024  2024/2025  Total energy consumption from activities in high climate impact sectors per net revenue from activities in high climate impact sectors (MWh/Monetary unit)    16.8 18.9 (9.3%)CPH’s entire energy consumption is from activities in a high climate impact sector, specifically the transportation and storage sector – section H in Commission Delegated Regulation (EU) 2022/1288. Energy intensity per net revenue has been calculated based on the net revenue elements presented in note 2.2 to the financial statements on page 137.  E1-6  Gross scope 1, 2, 3 and total GHG emissions  Scope 1 and 2 emissionsTotal scope 1 and 2 (market-based) emissions fell by 89% in 2025, driven by renewable electricity procurement, the mid-year roll-out of HVO100 biodiesel, and a substantial reduction in the GHG intensity of district heating supplied by Tårnby Forsyning. With these combined effects, scope 1 and 2 (market-based) emissions reached a level 89.9% below 2019. In 2026, a full year of HVO100 use is expected to reduce scope 1 emis-sions from mobile combustion by approximately 600 tCOe, and provided the GHG intensity of our 2district heating supply holds or decreases, CPH remains on track to achieve its scope 1 and 2 net zero target in 2026.Scope 3 emissionsScope 3 emissions increased by 3% in 2025, driven by passenger growth and increased invest-ments in physical infrastructure. The net increase in scope 3 emissions was minimised by CPH’s renewable electricity procurement, which deliv-ered meaningful reductions in emissions from fuel- and energy-related activities and down-stream leased assets.Total emissions and GHG intensityTotal market-based GHG emissions fell by 2% in 2025, with renewable energy procurement exerting the strongest downward pressure. This trend is likely to reverse in 2026 as passenger numbers rise and investments in physical infra-structure continue to grow.Market-based GHG intensity per net revenue decreased by 10%, reflecting both the aforemen-tioned fall in absolute emissions and a 3% reduc-tion in the per passenger GHG intensity of our aircraft operations. This improvement in the per passenger GHG intensity of our aircraft opera-tions is attributable primarily to fleet renewal and secondarily to the 2% SAF blending requirement introduced under the ReFuelEU Aviation mandate for 2025.  E1-6   Gross Scope 1, 2, 3 and Total GHG emissionsTable 3: Gross Scope 1, 2, 3 and Total GHG emissions Retrospective Target yearAnnual % target vs 2019 2024 2025 % change 2024/2025   2030baseline year Scope 1 GHG emissions43,463Gross scope 1 GHG emissions (tCO5eq)   3,4312,406 (31%) 1,754 (4%)26Biogenic CO emissions from Scope 1 emission sources (tCO) 127 179  973 445%22Percentage of scope 1 GHG emissions from regulated emission trading schemes (%) 0 0 0Scope 2 GHG emissionsGross scope 2 GHG emissions (tCOeq) – location-based  11,814   6,581  2,756 (58%)2Gross scope 2 GHG emissions (tCOeq) – market-based   23,748  21,868  335 (98%) 459 (9%)27Known biogenic CO emissions from scope 2 emission sources (tCO)  15,088 18,59017,718 (5%)22Significant scope 3 GHG emissionsGross scope 3 GHG emissions (tCOeq) – market-based 444,439 458,154 3%28Known biogenic emissions from Scope 3 emission sources (tCO) 17, 0 6222,732 33%2Percentage of scope 3 emissions calculated using primary data (%)  77% 71% (8%)  1. Purchased goods and services (tCOeq)  32,958  33,471 2%2  2. Capital goods (tCOeq) 72,050  97, 8 26 36%29  3. Fuel and energy related activities (tCOeq) – market-based  4,621887 (81%)214,785  4.  Upstream transportation and distribution (tCO10eq)3,544 (26%)2  5. Waste generated in operations (tCOeq) 14  10 (31%)2  6. Business travel (tCOeq) 343  169 (51%)211  7. Employee commuting (tCOeq)  2,999  3,213 7%22  9. Downstream transportation and distribution (tCOeq)37,611 37,79 8 0%2311. Use of sold products (tCOeq)265,035 266,300  279,905 5%213. Downstream leased assets (tCOeq) - market-based 25,890 22,758 1,331 (94%)2Total GHG emissions (location-based) (tCOeq)  N/A 454,483 463,316 2%2Total GHG emissions (market-based) (tCOeq)  N/A 469,770 460,895 (2%)21 Goods delivery and scope 1 mobile combustion emissions of ground handling companies.2 Surface access transportation to and from CPH (passenger and freight cargo). 3 Aircraft operations in the landing and take-off cycle.4 5 6 7 Adjusted from 2,870 due to completeness error. Adjusted from 2,761 due to completeness error. Adjusted from 167 due to completeness error. Adjusted from 8,805 due to new and corrected calculation approach. Adjusted from 9,309 due to improved method-9 10Adjusted from 9,892 due to error in calculation approach and use of emission factor. Adjusted from 4,241 due to error in calculation approach. ology. Adjusted from 1,271 due to methodological improvement. Table 4: GHG intensity based on net revenue% change tCOeq / 000' DKK   2025 2024  2024/20252*Total GHG emissions (location-based) per net revenue  83.9 89.6(6%)*Total GHG emissions (market-based) per net revenue   83.5 92.7(10%)* Adjusted from 91.7 (location-based) and 97.9 (market-based) due to changes made to E1-6 comparative 2024 figures.GHG intensity per net revenue has been calculated based on the net revenue elements presented in note 2.2 to the financial statements on page 137.   E1-7   GHG removals and GHG mitigation projects financed through carbon credits To support our net zero target for own operations and ensure alignment with the Airport Carbon Accreditation programme, CPH invests in high-quality carbon removal projects to compensate for the residual emissions from scope 1, scope 2 (market-based), and business travel (scope 3 category 6). These projects are implemented outside our value chain and verified by credible third-party standards to ensure environmental integrity. To compensate for our 2024 emissions from scope 1 (3,463 tCOe), scope 2 (21,868 tCOe) and business travel (343 22tCOe), we have retired a total of 25,675 carbon removal credits. 100% of the retired credits are verified by Plan 2Vivo and from projects utilising biogenic sinks (reforestation). None of the credits are issued from projects in the EU, and the credits do not qualify as corresponding adjustments under Article 6 of the Paris Agreement. To compensate for our 2025 emissions from scope 1 (2,406 tCOe), scope 2 (335 tCOe) and business travel (169 22tCOe), we have retired a total of 2,911 carbon removal credits. 87% of the retired credits are verified by Plan Vivo 2and 13% are verified by Puro.earth. 100% of the credits are from biogenic sinks, with 87% from reforestation projects and 13% from industrial biochar projects. None of the credits are issued from projects in the EU, and the credits do not qualify as corresponding adjustments under Article 6 of the Paris Agreement. In the coming years, we will continue to compensate for our residual emissions from scope 1, scope 2 (market-based), and business travel (scope 3 category 6) in line with the Airport Carbon Accreditation programme, and plan to retire approx. 8,400 tCOe for the period 2026-2030. 2In line with our transition plan, carbon removal credits will be used to establish and maintain a net zero balance in scope 1 and 2 (market-based) after having reduced scope 1 and 2 (market-based) emissions by 90% relative to 2019. This approach ensures that carbon removals complement, rather than substitute, our direct decarbonisation efforts. CPH does not attach any claims of carbon neutrality to our carbon offsetting practice.  § Accounting policiesAll metricsAll metrics cover the reporting period 1 January 2025 – 31 December 2025.E1-5 - Energy consumption and mix (§37)Total energy consumption related to own operations is calculated by aggregating and converting all forms of energy consumption to MWh using standard conversion factors. Consumption data is stored in our internal system and originates from various sources, including supplier invoices and meter readings. The data is consid-ered reliable and sufficiently robust for reporting purposes; however, certain limitations apply. For a limited number of building units, consumption data is estimated using an area-based allocation key rather than unit-specific metering. This may introduce minor uncertainty in the allocation between energy consumed in own operations and energy attributable to downstream leased assets. In addition, ongoing construction and development activities at the airport can intermittently disrupt meter data transmission, leading to temporary data gaps or delays in reporting. These limitations are monitored and managed through established internal controls. Total energy consumption from renewable sources is calculated by multiplying consumed energy from each energy source by the percentage share from renewable sources indicated in the corresponding environmental declarations. CPH's self-generated non-fuel renewable energy comes from 13 photovoltaic (PV) systems, with five owned by CPH. We are able to monitor the power directed from our solar panels into CPH's internal power grid. CPH has internal controls and tracking programmes to ensure the quality of the reported data. For RKE, vali-dated data could not be obtained before the 2024 reporting deadline. However, the data has now been vali-dated and included for 2025. In addition, propane used at the fire training ground at Copenhagen Airport is included this year and has been corrected retroactively.§ Accounting policiesE1-6 - Gross scope 1 and 2 GHG emissions  (§44a, 44b)Gross scope 1 and 2 GHG emissions have been prepared in accordance with the GHG Protocol. CPH's organ-isational boundaries were defined using the operational control approach. Scope 1 includes direct emissions from stationary and mobile combustion in assets operated by CPH together with refrigerants and chemicals used for de-icing of both airplanes and runways. Scope 2 includes indirect emissions from electricity and district heating consumed in assets operated by CPH.Scope 1 and 2 GHG emissions are calculated using activity-based energy consumption data, which is collected from CPH's meter management system and supplier invoices. Consumption data is matched with the most representative location-based and market-based emission factors from DEFRA and relevant environmental declarations. Previously, a five-year rolling average was applied to the emission factors for electricity, natural gas and district heating. After entering into a power purchase agreement (PPA) in 2025, we will no longer apply a rolling average to these emission factors and will instead use emission factors from the latest available year. For RKE, validated data could not be obtained before the 2024 reporting deadline. However, the data has now been validated and included for 2025. CPH has internal controls and tracking programmes to ensure the quality of the reported data.E1-6 - Gross scope 3 GHG emissions Gross scope 3 emissions have been calculated in accordance with the GHG Protocol, defining organisational boundaries based on the operational control approach. Scope 3 GHG calculations are performed in accord-ance with the following data hierarchy: supplier-based method, activity-based method and finally spend-based method. Each datapoint that goes into a scope 3 category is labelled “primary” or “secondary”. When matched with correlating emission factors, the calculation is performed based on CO from the following 2formula: Percentage of scope 3 emissions based on primary data =   tCOe calculated using primary data  2                           tCOe calculated using all data            *(100) 2E1-6 - Gross scope 3 GHG emissions  (§44c)Some of our spend-based calculations are based on emission factors from prior years and currencies other than DKK. In these cases, we have converted the spend-based emission factors into DKK and adjusted for inflation. Accounting data that is not relevant for the climate account is excluded. This includes taxes, fees and internal salaries. The methodologies and assumptions applied to prepare each scope 3 category are detailed below: Category 1 (Purchased goods and services): This category includes the upstream emissions from goods and services consumed in CPH's operations. These emissions are calculated using both the spend-based and activi-ty-based methods. Category 2 (Capital goods): This category includes emissions related to CPH’s construction projects, procure-ment of vehicles and equipment, and other investments in physical infrastructure. These emissions are calcu-lated using the spend-based method. Category 3 (Fuel- and energy-related activities): This category includes upstream emissions from fuel and energy consumed in CPH's operations. These emissions are calculated using activity-based and supplier-based data from CPH’s meter management system and fuel suppliers, which is subsequently matched with the rele-vant emission factors for upstream fuel- and energy-related emissions. Category 4 (Upstream transportation and distribution): This category includes emissions from the oper-ation of vehicles and equipment at Copenhagen Airport by ground handling companies. These emissions are calculated using activity-based data provided by the handling companies, which is matched with relevant emission factors. Emissions from the delivery of goods to CPH are accounted for by collecting data from the security clearance system on the number and weight of cargo pallets delivered to CPH as well as questionnaires answered by delivery truck drivers entering CPH's goods delivery area. It was not possible to separate the trans-portation-related and manufacturing-related emissions from purchased goods and services and capital goods based on financial accounting data. As a result, a portion of CPH’s emissions from upstream transportation and distribution is also accounted for in categories 1 and 2. The category also includes the de-icing chemicals used by handlers at Copenhagen Airport.Category 5 (Waste generated in operations): This category includes emissions from the handling of waste generated in CPH’s operations and in connection with the Terminal 3 Airside expansion construction project. These emissions are calculated using activity-based data provided by contractors, waste transporters and treat-ment facilities. Category 6 (Business travel): This category accounts for emissions from CPH’s own business travel activities, including air and car travel as well as hotel stays. These emissions are calculated using both activity-based and supplier-based data provided by CPH’s business travel agency and our payroll systems. From 1 January 2025, all flights for business travel have been compensated with SAF carbon credits via a book-and-claim system. Emis-sions from flights are not therefore included.Category 7 (Employee commuting): This category accounts for the emissions from employee commuting to and from CPH and RKE. These emissions are calculated using activity-based data. An employee commuting survey was conducted to obtain information about the distance travelled and transportation modes used by employees. As only 10% of CPH’s employees responded to the survey, the dataset was extrapolated to reflect the entire workforce. Category 9 (Downstream transportation and distribution): This category accounts for the emissions from passenger surface access transportation to and from CPH as well as road transport of freight cargo to and from CPH and distribution centres. These emissions are calculated using activity-based data collected from passenger surveys; CPH's parking and taxi management systems; and transport data provided by public trans-port companies, car rental companies and charter bus companies operating routes to and from CPH. This data is matched with relevant passenger-kilometre and cargo-tonne-kilometre emission factors for each transpor-tation modality. The emissions from passenger surface access transportation to and from RKE are not included due to lack of data.Category 11 (Use of sold products): This category accounts for the tank-to-wake emissions from aircraft operations in the landing and take-off (LTO) cycle. These emissions are calculated using activity-based data from CPH's air traffic management system, which is matched with relevant fuel burn and emission factors from ICAO and version 3g of AEDT. Activity-based data could not be obtained from RKE. Emissions from RKE were estimated through revenue-based extrapolation. Category 13 (Downstream leased assets): This category accounts for the emissions from fuel and energy used to operate buildings leased by CPH to other parties. These emissions are calculated using activity-based data from CPH's meter management system. Categories not in scope Category 8 (Upstream leased assets): CPH had no leased assets in 2024 and 2025 over which we do not have operational control. Categories 10, 12 and 14 (Processing of sold products, End-of-life treatment of sold prod-ucts and Franchises): CPH is not a manufacturer of goods and does not have franchising as part of our business model. Category 15 (Investments): CPH has not identified significant emissions from the operation of invest-ments as defined in section 5.5 of the GHG Protocol Reporting Standard.E1-6 - GHG intensity (§53) GHG emissions intensity (for market-based and location-based separately) is calculated as market-based and location-based GHG emissions divided by CPH’s net revenue in DKK million. E2 PollutionPollution of waterPollution of water caused by air- and landside maintenanceWhereAir- and landside maintenance entails cleaning activities involving chemicals and other activities that Own operationscan cause water pollution. Downstream value chain activities include plane washing and de-icing operations. Anti-icing fluids Timefurther compound this issue due to the inclusion of polymeric thickeners.Short termPrecipitation run-off from large asphalt surfaces increases the risk of these chemicals infiltrating the Medium termground and potentially contaminating groundwater as well as nearby marine environments if not Long termtreated properly. Despite the fact that we phased out all use of PFAS compounds in firefighting foam in 2008, the long-term presence in the environment entails an additional ongoing impact on water IROquality. This actual negative impact is concentrated within our own operations, as we run the facilities, Actual negative  and particularly in maintenance activities involving large-scale water use and chemical handling.impactThe large-scale use of chemicals and their potential infiltration into nearby marine environments require stringent management practices. This short-term impact highlights the need for effective water and chemical handling systems to mitigate environmental impacts while meeting operational demands.Pollution of soilSoil pollution from maintenance activities and operationsWhereThe maintenance of air- and landside facilities and operations contribute to systemic and widespread Own operationssoil pollution. Pollution sources include oil contamination that originates from e.g. fuel lines, leakingoil tanks and oil spills from diesel and petrol vehicles. Degreasing aircraft parts with chlorinated Timecompounds and using propylene glycol for de-icing activities also generate soil contamination.Short termDespite the fact that we phased out all use of PFAS compounds in firefighting foam in 2008, the long-Medium termterm presence in the environment entails an additional ongoing impact on soil quality.Long termThis actual negative impact is concentrated within our own operations, including maintenance activities, but has the potential to affect surrounding soil and areas further away through run-off IROand leaching. CPH controls all surplus soil in connection with all the airports' building and construc-Actual negative  tion works. According to the Danish Soil Pollution Act, CPH has an obligation to report detected soil impactcontamination to the authorities. As a general rule, we always voluntarily carry out the clean-up of detected soil contamination.E PollutionManaging pollution is essential to safeguarding environmental quality and regulatory compliance. CPH has identified the following material impacts and risks related to air, water, soil and noise pollution. Material impacts, risks and opportunitiesE2 PollutionPollution of airPollution from aircraft operationsWhereThe transportation of both passengers and cargo by plane, a key downstream value chain activity, Downstreamgenerates air pollutants that may negatively impact both people and the environment, affecting airquality at a local level while also adding to global pollution challenges.TimeAir pollution levels are monitored to address local air quality at and around the airports, particularly as Short termthe majority of the air pollution is generated from aircraft emissions. While these efforts monitor local Medium termimpacts, the global nature of air travel means that pollutants are dispersed across countries, making Long termmitigation efforts particularly challenging. Addressing these pollutants requires long-term investment and extensive international collaboration with airlines and regulators to further develop solutions such IROas sustainable aviation fuels. The actual negative impact is considered widespread and is concentrated Actual negative  in the downstream value chain. To address this impact, we will continue working with downstream impactpartners and implement our air quality programme, which includes monitoring and identifying areas for improvement regarding the sources and impacts of emissions on air pollution.E2 PollutionNoise pollution (entity-specific)Noise pollution from airport operationsWhereWe acknowledge that air transportation causes noise-related impacts for the local communities and Upstreamthe environments around the airports. Consequently, we are aware of our responsibility to adequately Own operationsmanage noise and do our part to minimise our impacts to maintain a good relationship with our Downstreamneighbours and continue to uphold our licence to operate. We work closely with the Danish Environ-mental Protection Agency to ensure we meet regulatory requirements. TimeShort termMedium termLong termIROActual negative  impactPollution of air, water, soil and noise (entity-specific)Increased regulation of polluting activities                                      WhereThere is a risk of increased regulation of polluting activities due to a heightened focus on environ-Upstreammental impacts, as well as in connection with the expansion of the airport operations. Such increased Own operationsregulation could include new or altered limits for pollution.DownstreamChanges in the regulatory landscape can lead to a risk of an increase in additional and/or unknown investments to reduce local environmental impact from the airport. Furthermore, such risk could Timeimpact the current and future level of operations at the airport if the said investments are not allo-Short termcated in due course to enable compliance with future potential regulation.IROFinancial riskAt CPH, we recognise the environmental impacts stemming from pollution across air, water, soil and noise. Our operations and infrastructure have a negative influence on local ecosystems. We are committed to mitigating these impacts through dedicated actions and continued mitigation, as we view reducing our polluting activities as a fundamental part of our responsibility to protect the environment.Impact, risk and opportunity management E2-1  Policies related to pollution of air, water, soil and noiseWe are governed by comprehensive external regula-tions, including those from local municipalities and the Danish Environmental Protection Agency, which steer our mitigating measures to ensure continued compliance. These regulatory frameworks provide clear and detailed guidance, reducing the need for internal policies. This enables us to focus our resources on mitigating material impacts, while ensuring compli-ance with applicable standards.Our Environmental Policy does not therefore specifically address the area of pollution; rather, our efforts are guided by regulation, operational controls and procedures. We are currently in the process of developing new sustainability-related policies, which are expected to be implemented in 2026. E2-2  Actions and resources in relation to pollutionIn 2025, we complied with regulations in order to mitigate our impacts on pollution. Due to the differing nature of each type of pollution, the actions described are structured according to the type of pollution. For information on allocation of resources, refer to ESRS2 SBM-3 on page 47. Pollution of airIn accordance with our environmental permit, we continuously measure air quality at and around the boundaries of our airports. Each year, we report this data to the relevant authorities and publish it on cph.dk. 2025 results confirm that we have again operated within the permitted limit values.In 2025, we continued to operate the local air quality programme, with the work conducted as a collaborative effort between CPH, airlines and handlers, all involved in scoping initiatives through working groups. The programme for air quality covers actions to reduce impact on site as well as actions that will contribute to reducing value chain pollution. We have developed an action plan to establish a sensor network to enhance the monitoring of ultrafine particles at the airport. The objective is to document the effect of our activities to improve local air quality.  We also took actionable steps to mitigate our on-site impact. As of 2025, our own vehicles, which previously ran on diesel, thus contributing to local air pollution, now use HVO100 biodiesel. This action is described in further detail in section E1-3. Further, the expansion of our charging infrastruc-ture for electric ground support equipment and vehicles for ground transportation in and around the airports is a continued focus. We believe collaboration is a key element in solving the challenge of air pollution at an operating airport. We have therefore entered into a collabora-tive partnership with Schiphol Airport that involves engaging with specialists in working meetings and workshops to exchange valuable knowledge and experiences, as well as researching and developing new efforts and solutions together. Building on the milestone achieved in 2024 with the signing of the agreement to initiate sustainable aviation fuel (SAF) production in Denmark, we have continued to work closely with our partners – SAS, Copenhagen Infrastructure Partners and Aalborg Airport – to advance the project. During 2025, our partners focused on securing the funding necessary to ensure that the project can deliver on its ambi-tion to provide airlines with access to alternative fuel options and support the transition to more sustainable aviation practices. While the funding process is ongoing, the collaboration remains strong, and the project continues to be a strategic priority for CPH in 2026.In 2025, we concluded the EU Horizon project ALIGHT, led by CPH, with numerous studies and findings resulting from the five-year project period. One of those findings came from a study on the fuel composition of arriving aircraft to gain a better understanding of how natural variance in jet fuel compositions impacts local air quality. The study showed generally that fuel quality is of major significance for local emissions, and specifically that fuel with a lower aromatic content correlates with lower emissions of ultrafine particles, thus providing valuable insights for future work.Furthermore, we maintained our focus on reducing the use of auxiliary power units (APUs) at CPH. APUs power the aircraft when the engines are switched off and the aircraft is not connected to the airport power grid. As the APUs operate on jet fuel, they contribute to both noise and air pollution in the local environment, so reducing their use is important for improving air quality. In 2025, we procured 40 AI-enabled thermal cameras with the purpose of installing these at the busiest aircraft stands. 39 of the 40 cameras have been deployed and are successfully collecting data. The remaining camera will be deployed when construction of the planned placement is completed. Cameras are mounted on light poles at the busiest stands, allowing us to monitor up to 70% of total aircraft traffic. The project is enabling us to better under-stand when an APU is turned on and off, and from there to gain an understanding of why timestamps may differ from the guidelines provided by CPH. Analysis of the preliminary results of the project is under way, with expected outcomes to be opera-tionalised in 2026.Our work with local air quality addresses emis-sions generated by airlines, ground operations and other airport activities, and it requires innovative solutions. Our actions during 2025 strengthened our knowledge on air quality and will enable us to continue to work towards reducing our local air pollution. The ambition is to continuously reduce our local emissions, enabled by the establishment of a sensor network and collaborative partnerships. Pollution of waterWater pollution remains a key focus area for CPH, particularly in managing the impacts caused by maintenance activities, such as plane washing, tarmac cleaning and de-icing operations. In 2025, we continued to build on our ongoing water moni-toring and treatment efforts by taking significant steps to further mitigate polluting impacts.We continue to comply with local and regional regulations in relation to the pollution of water and soil. We annually report relevant data to Tårnby Municipality, and this data is also provided in section E2-4. 2025 data confirms that all pollutant levels are within the relevant regulatory thresholds.During the year, we worked to expand our treat-ment facilities and mitigation measures with the construction of a new facility at our fire training area for the treatment of surface water. Further-more, a new project is being developed to provide an additional water retention tank that will func-tion as a buffer during heavy rainfall, preventing untreated water from entering our outlets. Our in-house treatment plant continued to clean surface water using advanced filtration and separation technologies, ensuring that harmful chemicals were removed before discharge into wastewater systems. In 2026, the construction of a new sludge treatment facility addressing PFAS and various other pollutants will begin. Currently, we do not have established ways to assess the effectiveness of our PFAS-related actions, but the coming PFAS strategy is expected to aid us in this regard. The actions described above also summarise our efforts with regard to pollution of soil. CPH’s approach to the remediation of historic PFAS pollution at both Kastrup and Roskilde has been, and remains, to contain and treat contam-inated water. During 2025, we worked on devel-oping an additional PFAS treatment plant, and construction is expected to begin in 2026. The new plant will increase our capacity to address this persistent contaminant and add to our four already established plants now operating in Kastrup and Roskilde. Furthermore, in 2025 we made the monitoring data of those treatment plants publicly available on our website for any interested parties to view.We continued to address PFAS contamination by measuring levels in surface water and pumping water from affected areas, preventing further spread, remediating contaminated areas and protecting local ecosystems, working closely with local, regional and national authorities. These efforts will be consolidated in a collective PFAS miti-gation strategy, which was under development in 2025 and is expected to be implemented in 2026.Pollution of soilPollution of soil is a focus area for CPH in relation to maintenance activities, operations and historical PFAS usage at the airport. Actions relating to PFAS are described in the previous section on water pollution. CPH continues to focus on mitigating pollution of soil impacts through a combination of treatment and prevention strategies.CPH has a stringent operational requirement to conduct soil sampling that measures any surplus soil created as a result of construction or mainte-nance activities. The soil is assessed and managed for contamination risks. Soil contaminated by fuel oil is treated at our on-site treatment plant. Heavily contaminated soil is dispatched to external facilities for specialised remediation. Uncontaminated surplus soil is utilised in CPH’s noise barriers.  Noise pollutionCPH performs ongoing noise monitoring and implements targeted initiatives to address noise-re-lated impacts and the related risks of environ-mental non-compliance. Our monitoring verifies that noise levels in residential areas do not exceed levels stipulated in the environmental permit and that flight tracks are within limits. Alongside the permanent monitoring stations, CPH operates two voluntary mobile noise monitoring units. All noise and track data is available online on cph.dk for any interested parties. Every year, we encourage people living around the airport to get in touch if they are interested in having a mobile noise monitoring unit placed in their garden. Both local residents and CPH gain knowledge of the noise exposure from the airport in residential areas as a supplement to our existing fixed noise monitoring stations.Along with operating airlines, partners and Naviair (the Danish air traffic controller), we continue to investigate new measures to reduce noise exposure in surrounding residential areas in order to remedy impacts related to noise and air pollution.Metrics &amp; targets E2-3  Targets related to pollution  We adhere to relevant legislation in order to mitigate impacts related to pollution of air, water and soil, as well as noise levels. Since 2019, CPH has had two targets for noise levels relating to its Day Evening Night Level (LDEN) performance. The targets reflect CPH’s ambition to ensure reductions in noise expo-sure for neighbours, irrespective of airport develop-ment and growth in air traffic: By 2030, the absolute number of households exposed to noise above the Environmental Protection Agency’s guideline limit value (LDEN: 55 dB) should not exceed 2018 levels, irrespective of growth in air traffic to and from the airport. By 2050, the relative number of households around CPH exposed to noise above the Environmental Protection Agency’s guideline limit value (LDEN: 55 dB) should be reduced by 50% compared to 2018. These targets apply to the affected neighbours in Kastrup, while the target in Roskilde is to comply with regulatory limits. The regulatory noise targets are defined using LDEN as this metric identifies how many households are exposed above the Environmental Protection Agency’s 55 dB limit and established using 2018 as the baseline year. LDEN is calculated using a spatial grid around the airport and presented as iso-lines that show noise levels in specific areas. As this is an extensive modelling exercise, LDEN is recalculated every three years in line with CPH’s environmental permit. In the years between LDEN calculation, we monitor and report the Total Day-Evening-Night Level (TDENL) annually as an operational indicator of overall noise exposure. Although TDENL cannot show thresholds or indicate how many households fall above the 55 dB boundary, it is derived from the same underlying noise model as LDEN and reflects the total noise load that influences the shape of the LDEN 55 dB contour. Changes in TDENL there-fore track the same operational developments that determine whether the LDEN-based objectives are being met, making TDENL a reliable annual proxy between full LDEN assessments. To ensure transparency over time, our annual TDENL reporting uses the 2018 level of 145.3 dB as the reference point. TDENL quantifies the total noise exposure but does not show which areas are most affected, which explains why TDENL values are numerically higher than LDEN values. For noise pollution metrics, 2018 is used consistently as the baseline year as no accurate measurements are available for 2019; 2018 is therefore the closest applicable and most robust baseline for the period. With regard to PFAS, CPH has formalised an ambition towards 2030 and beyond: to limit the dispersal of PFAS through continuous containment and mapping of PFAS pollution. The ambition will support the work being done within the strategy for PFAS pollution. CPH has not set quantitative targets for mitigation of PFAS due to imprecise data for mass measurements. The aforementioned environmental permit provides guidelines for PFAS levels within groundwater and surface water, which are monitored by CPH, but specific guidance on target levels has yet to be provided by the relevant authorities. In order to track the effectiveness of our actions to prevent and mitigate air pollution, in 2026 we will establish a baseline for ultrafine particle levels based on data collection from 2025. Furthermore, with the use of HVO100 for our own diesel-driven vehicles and equipment, the previously reported target for low-carbon emission from all local equipment and vehicles has been phased out. As described in section E1-3, our work to further implement HVO100 and to transition to electrical alternatives is ongoing. Internal targets are not formalised for other areas of pollution. However, we ensure that air pollut-ants, emissions to water (both freshwater and the ocean) and soil pollutants, including substances of concern and very high concern, are prevented and controlled in line with regulations. As we adhere to relevant legislation, additional targets are not currently planned to be developed.  E2-4  Pollution of air, water, soil and noisePollution of airIn accordance with our environmental permit, we monitor the local air quality and calculate aircraft emissions. Air quality parameters (NO, NO, PM, 22,5ultrafine particles) are monitored by an accredited provider (FORCE Technology). Emission inventories from aircraft operations are prepared annually by the Environmental Compliance Management department using the Aviation Environmental Design Tool (AEDT) model developed by the US Federal Aviation Administration. For more informa-tion on how pollution metrics are calculated, see the E2 Accounting policies section.The presented metrics include all aircraft activities below 1,000 feet. Thus, the majority of emissions from our value chain related to air traffic are included in the figures. The air pollution metrics are indexed in 2019 figures for contextual purposes. Compared to 2019, there has been a major change in the aircraft mix. For example, so-called new engine option (NEO) aircraft types make up a much larger proportion of the aircraft fleet today than in 2019, as mentioned above. This means that the amount of the various substances emitted has changed. Most notably, total emissions of ultrafine particles have reached an index of 61 even though the total number of operations is index 97 compared to 2019. Ultrafine particles are the parameter where the airport has the greatest impact on local air quality.The level of carbon monoxide (CO) has increased to an index of 134. However, this should be seen in Table 1: Pollution of airUnit 2025 2024  CO  Tonnes 815 749ndex 2019 134 123NOTonnes 1,310 1,243xndex 2019 101 96SOTonnes 116 109xndex 2019 108 101THC Tonnes 92 89ndex 2019 103 100PMTonnes 11 112,5ndex 2019 90 851UFP Number (in 1022) 9.002 8.298ndex 2019 61 56Operations* Number 256,701 239,760ndex 2019 97 911 Number of UFP changed from 8,298 to correct for numerical punctuation error in previous reporting.  * CPH defines an operation as either a take-off or a landing on our territory. When an aircraft arrives and departs again, it completes two operations.Table 2: Pollution of surface waterUnit 2025 2024*Surface water discharged to Øresund1Total-N mg/l 1.146 1.2832Total-P mg/l 0.112 0.0503Mineral oils  µg/l 14.741 156.9814Lead µg/l 0.224 0.4605Cadmium  µg/l 0.019 0.2006Chromium  µg/l 0.707 1.6907Copper  µg/l 2.610 4.5528Nickel  µg/l 1.287 4.3009Zinc  µg/l 16.142 28.100PFOS kg/year 0.156 0.084∑ 4 PFAS kg/year 0.208 0.141∑ 22 PFAS kg/year 0.264 0.267*2024 numbers are adjusted due to incorrect calculation approach. 1 Adjusted from 64.90. 2 Adjusted from 0.40. 3 Adjusted from 5,270.00. 4 Adjusted from 4.60. 5 Adjusted from 2.00. 6 Adjusted from 16.90. 7 Adjusted from 48.80. 8 Adjusted from 48.80. 9 Adjusted from 297.40.light of the fact that the concentration of CO in the air around the airport is already at a non-critical level. CPH will routinely monitor CO emission levels to ensure that they remain at a non-critical level.Finally, it is also important to note that the emis-sions of an aircraft engine after take-off cannot necessarily be measured at ground level, making it difficult to distinguish between emissions that are directly associated with CPH's activities and the pollution stemming from value chain activities on our own sites.Pollution of waterCPH uses three metrics to measure water pollution: water discharged into Øresund; pollution of waste-water discharged to the city of Dragør; and pollu-tion of wastewater discharged to the city of Tårnby.In Kastrup, we are regulated by Tårnby Municipality, which sets discharge limits for various parameters. As previously mentioned, safeguarding water quality in marine environments is necessary to keep water resources in a condition that supports healthy ecosystems. These regulations aid in maintaining acceptable pollution levels, thus ensuring a respon-sible management of discharges into Øresund and to the municipalities of Dragør and Tårnby. Roskilde Airport operates a treatment facility that captures all surface water on site, ensuring that all discharged run-off is treated before being released into the environment.Our comprehensive monthly monitoring plan continuously assesses the parameters of our discharges into the environment. As shown in the tables, CPH has not identified any pollution discharges exceeding the parameters specified in Annex 2 of EU Regulation 166/2006.Table 3: Pollution of wastewater Unit 2025 2024  Wastewater discharged to DragørTotal-N kg/year 192.00   219.00Total-P kg/year 22.00 36.50Mineral oils  kg/year 0 0Lead kg/year 0.005 0Cadmium  kg/year 0.005 0Chromium kg/year 0.012 0Copper  kg/year 0.11 0.15Mercury kg/year 0 0Nickel  kg/year 0.02 0.04Zinc kg/year 0.56 0.91Table 4: Pollution of wastewater Unit 2025 2024  Wastewater discharged to TårnbyTotal-N kg/year 44,252.00   39,018.50Total-P kg/year 3,399.00 3,285.001Mineral oils kg/year 300 219Lead kg/year 0.14 0.44Cadmium  kg/year 0.04 0.07Chromium  kg/year 0.31 0.44Copper  kg/year 4.35 7.63Mercury kg/year 0.10 0.00Nickel  kg/year 0.85 0.91Zinc kg/year 23.24 40.301 Adjusted from 0.22 to correct for numerical punctuation error in previous reporting.Pollution of soil We annually carry out multiple analyses of the surplus soil that leaves our sites and the surplus soil that is used for noise barriers built on our side of the fences surrounding our territory.According to our environmental approvals for excess soil for noise barriers, we must take 1 sample per 30 tonnes of surplus soil. If the amount of excess soil is more than 300 tonnes, the sample frequency is reduced to 1 sample per 300 tonnes of surplus soil.Table 5: Pollution of soil Unit 2025 2024  Lead  kg/year 13.70 9.88Cadmium  kg/year 0.15 0.02Copper  kg/year 43.50 8.69Nickel  kg/year 5.16 3.40Zinc  kg/year 39.38 23.79BTEX  kg/year 0 0.01PAH  kg/year 8.86 1.7368For the reporting year 2025, CPH has not iden-tified any pollution of soil that exceeds the parameters specified in Annex 2 of EU Regulation 166/2006. The applied methodology for testing is presented in the corresponding accounting policy.Noise pollutionIn 2025, CPH successfully achieved its two targets related to noise pollution, maintaining TDENL levels below the 2018 baseline with regard to the number of households around CPH exposed to noise above the Environmental Protection Agency’s guideline limit value (LDEN: 55 dB). CPH conducts an impact assessment every 3 years, latest, performed in 2024, showing a 34% reduc-tion in the number of households.  The share of new types of aircraft operating at CPH has increased from 5% in 2019 to 39% in 2025. This is having a positive effect on CPH’s noise impact in the surroundings.In accordance with the Danish Environmental Protection Agency, we measure the noise at night (23:00-06:00) using monitors at six locations throughout the local area (Kastrup). TDENL is a calculated control value in decibels (dB) used for continuous monitoring of aircraft noise expo-sure. The limit value is based on the three most traffic-intensive months within a calendar year and represents the total sound energy from all aircraft operations, averaged per day, taking the time (day, evening or night) into account. Table 6: Noise pollutionUnit 2025 2024  TDENL  Decibel 144.4 144.7 1Index 2018 81.28 87.9 01 Index number adjusted from 99.4 due to incorrect calculation approach. § Accounting policiesAll metricsAll metrics cover the reporting period 1 January 2025 – 31 December 2025.E2-4 - Pollution of airThe term emissions from air traffic refers to emissions from aircraft main and auxiliary engines during operations below 3,000 feet, referred to as the landing and take-off (LTO) cycle. Emissions are measured as the concentra-3tion of air pollutants in the atmosphere as micrograms per cubic metre of air (µg/m). We calculate the emissions using the AEDT model, which was developed by the US aviation authorities. The result is tonnes per year, except for ultrafine particles, where it is the total number of particles per year. We report in indexed form and not the actual quantities.The emissions (the concentration of the individual, measured parameters) include all local sources and not just CPH's emission contribution (which we do not know). We are therefore not held responsible in relation to the individual limit values; the measured values are simply compared to this.FORCE Technology is assigned to oversee, maintain and collect data from CPH’s two monitoring stations, which are located on the periphery of Copenhagen Airport in Kastrup (East Station and West Station). Sampling and analysis are carried out in accordance with FORCE Technology's accreditation no. 51 from DANAK. Data is stored internally in our environmental database.E2-4 - Pollution of soilWe take soil samples from construction works that generate surplus soil and if contamination is observed. We report to Tårnby Municipality how many soil samples are taken. In 2024, we took 277 samples distributed over 25 construction works. In 2025 we took 267 samples distributed over 28 construction works. According to our envi-ronmental approvals for excess soil—used for noise barriers—we must take 1 sample per 30 tonnes of surplus soil. If the amount of excess soil exceeds 300 tonnes, the sample frequency is reduced to 1 sample per 300 tonnes of surplus soil. An external provider is used to perform the analysis at both locations. Data is stored internally in our environmental database.Emissions to soil are calculated only for samples where pollutant levels exceed the required limits. These polluted soil batches are sent to external companies, which report to CPH how many kilograms they received. For each polluted sample, the pollutant concentration (per kg) is multiplied by the quantity delivered. Samples without detected pollution are excluded from the calculation. E2-4 - Pollution of waterCPH applies the following definitions for water pollution: Surface water: Rainwater and outlet discharged to Øresund. Wastewater: Discharged to the cities of Dragør and Tårnby. Once a month, the external company WSP takes a sample (flow sample taken over 24 hours). The sample is analysed by an external company, which tests for pollution, including heavy metals and PFAS (PFAS is only a guideline).For surface water, the samples are averaged to calculate the annual concentration that is discharged from CPH to Øresund. For wastewater, the samples are correlated with flow data to calculate the total quantities directed to Dragør and Tårnby. Data is stored internally in our environmental database.E2-4 - Noise pollutionCPH has an environmental approval from the Danish Environmental Protection Agency obligating it to measure the noise at night (23:00-06:00) using noise meters at six locations throughout the local neighbourhood. The figures for noise levels are stored in our own database. LDEN is a calculated control value in decibels (dB) used for monitoring aircraft noise exposure. The calculated value is based on the three most traffic-intensive months within a calendar year and represents the daily average noise level from all individual aircraft operations. LDEN gives information on where the noise exposure occurred (or is planned to occur).The TDENL is a noise indicator based on the same principles as LDEN, but the noise exposure is given as a single value (dB) with no information on where the noise occurred. TDENL is calculated monthly to give an indi-cation of whether there has been a significant increase in noise levels.  LDEN is calculated using a fine, location-specific grid that shows the actual noise levels experienced in each neighbourhood, whereas TDENL aggregates all noise over the entire airport area into a single average value. Because TDENL compresses the full noise load into one number without reflecting local variations, it is natu-rally much higher and does not represent local exposure in the same way as LDEN. Possible non-compliances with the noise limit are reported to the Danish Environmental Protection Agency. Data on all complaints related to noise level is stored in our own system.As TDENL is measured in decibel which is a logarithmic value the index is calculated as:TDENLbaseline - TDENLcurrent yearindex = 1010The share of new aircrafts are calculated as:operations by new aircraftsshare of new aircraft =total operationsCPH defines the following models as a new aircrafts:  221, 223, 290, 295, 31N, 32N, 338, 339, 351, 359, 388, 781, 788, 789, 7M8, 7M9, CS1, CS3, 32Q.E Biodiversity and ecosystemsAirport operations interact with and affect local ecosystems and biodiversity, and CPH has identified the following material impacts.Material impacts, risks and opportunitiesE4  Biodiversity and ecosystemsImpacts on the state and condition of ecosystemsPotential effects on ecosystemsWhereActivities conducted by CPH and our business partners, both at the Copenhagen and Roskilde sites Upstreamand across scope 3 value chain operations, contribute to pollution of soil, water and the climate,Own operationswhich negatively affects the extent and condition of ecosystems. Key activities causing this potential Downstreamwidespread impact include construction projects, raw material sourcing, fuel supply, and the mainte-nance of air- and landside infrastructure. These activities disrupt natural habitats, degrade ecosystem Timeservices and contribute to biodiversity loss. This potential negative impact spans the value chain, Short termencompassing our own operations as well as the upstream and downstream value chain. Medium termLong termIROPotential negative impactE4  Biodiversity and ecosystemsImpacts on the state of speciesImpact on species due to wildlife hazard managementWhereFlight safety remains our highest priority, and consequently wildlife hazard management is a critical Own operationscomponent of our operational safety measures aimed at minimising the risk of wildlife strikes. Efforts to reduce the risks posed by wildlife at the airport have an actual negative impact on the number Timeof individuals and species as we disperse them. The need for wildlife hazard management presents Short terma conflict between operational safety requirements and environmental impacts. While critical for Medium termensuring passenger and aircraft safety, these activities negatively affect the state of local species, Long termpotentially leading to biodiversity loss. The efforts to regulate wildlife are extensive, and non-lethal measures are prioritised to reduce our impact on the local wildlife. We conduct extensive monitoring IROof local and migratory birds both through bird radars and research, as well as aiming to make crit-Actual  ical areas uninhabitable for wildlife to reduce the need for dispersal or, where unavoidable, lethal negative impactresponses.Land-use change, freshwater-use change and sea-use changeEcological disruptions due to land use and land-use changeWhereEcological disruptions due to land use and land-use change may arise from CPH’s continuous modi-Own operationsfication and redevelopment of existing land areas. These changes can alter local habitat structure, Downstreamecological connectivity and landscape configuration over time. Additionally, airport operations cause local pollution of air, soil and water, as well as pollution from light and noise. The airports operate Timeover large areas, affecting biodiversity within and adjacent to the airport sites. Currently, the airports' Short termbiodiversity is assumed to be comparable to that of the surrounding agricultural areas. The potential Medium termecological impacts relate specifically to changes made within the already established airport bounda-Long termries, where changes to land use and infrastructure layout may influence habitat connectivity and the spatial arrangement of ecosystems. IROPotential negative impactStrategyMaterial sites related to biodiversity impacts  Based on the materiality assessment, we identified two sites in our own operations (and under our operational control) that were material: Copen-hagen Airport and Roskilde Airport. These sites are material, as Natura 2000 areas (an EU network of protected areas that cover Europe's valuable and threatened species and habitats) are found near both. Around Copenhagen Airport, the European Environment Agency has identified Vestamager and Saltholm as Natura 2000 areas. Furthermore, through the EU’s Water Framework Directive, established to ensure improved ecological condi-tions, one of the target areas is Øresund, located in direct connection to Copenhagen Airport. In close vicinity to Roskilde Airport, Snoldelev Mose and Gammel Havdrup Mose, Ramsø Mose and Roskilde Fjord are included in the Natura 2000 network.Ensuring flight safety remains our highest priority when operating our airports. This requires specific safety measures that, at times, require us to manage nature and biodiversity within the airports’ secure areas. We take comprehensive measures to deter wildlife from entering our sites with the aim of minimising wildlife-related incidents. Continued mitigation of the impacts of our polluting activities together with our decarbonisation efforts help in reducing our impact on ecosystems. Furthermore, CPH’s sustainability strategy includes a dedicated Nature Programme to take account of impacts within our own operations and beyond. Flight safety and biodiversity impactsBy reducing the number of serious wildlife inci-dents and by utilising methods that give the greatest possible consideration to wildlife, CPH promotes flight safety.The prerequisite for success in this work is to make our airside areas as unattractive as possible for wildlife that poses a safety risk for aviation. This is done through an established Wildlife Hazard Management Programme.  The aim of our management programme is to make the airside areas as homogeneous as possible. This reduces the number of bird species that visit the airport, making it easier to manage the species that do come. Furthermore, by contin-uously using scare tactics, birds are repeatedly disturbed, and thus the risk of them returning to our areas is reduced, as they learn there is less time available to meet their energy needs within our site boundaries. As a result, the birds instead seek refuge in the two large nearby protected natural areas: Saltholm and Kalvebod Fælled, where they can avoid disturbances and have access to food.In cases where wildlife poses a direct threat to departing and landing aircraft, as determined through our risk matrix, lethal shots are used if scare tactics are deemed insufficient.  E4 -1  Transition plan for biodiversity The continued development of the Nature Programme was a focus throughout 2025 to ensure we account for our impacts on nature both on site and throughout our value chain. Scoping our own areas and the possibilities within them was the main focus during the year, as we acknowledge that we take up a large amount of physical space and the way we utilise that space is not compatible with diverse nature. Further-more, we will initiate an assessment of the impact of our activities beyond our own areas. This will provide a deeper understanding of CPH's impacts on nature as well as our nature-related risks (also understood in this context as biodiversity and ecosystems).Impact, risk and opportunity management E4-2  Policies related to biodiversity and ecosystemsOur Environmental Policy, described in E1-2 on page 53, addresses biodiversity as a whole, supported by our pollution-mitigating actions (see E2-2 on pages 64-66). Our activities related to wildlife dispersal are managed by our Wildlife Control team, and our Wildlife Hazard Management Programme is run by our Safety Services Office. Both are guided by our Wildlife Risk Assessment Matrix and various procedures for mapping wildlife activity and patterns at CPH sites.The Nature Programme is still under development, and we expect to revisit our policy framework for biodiversity in parallel.The policy is overseen by our Chief Sustainability Officer and is accessible to all CPH employees. E4-3  Actions and resources related to biodiversity and ecosystemsSome of the drivers of our material impacts related to biodiversity stem from impacts related to E1 Climate change and E2 Pollution. To address the interconnected nature of environmental impacts, reference is made to the actions outlined in E1-3 and E2-2, which help in reducing our impact on local ecosystems. Specifically, initiatives and compliance measures that manage the pollu-tion of air, water and soil play a dual role, as they simultaneously address pollution and ecosystem degradation. Reference is also made to the Strategy section in E4, which describes CPH's efforts to mitigate the identified impacts on the state of species. Local knowledge and nature-based solutions have not been included in our biodiversity actions, nor do we use biodiversity offsets as part of our current action plans.Metrics &amp; targets E4-4  Targets related to biodiversityOur main goal is to minimise CPH’s impact through the mitigating actions mentioned in the Strategy section. Some aspects of CPH’s impact are dependent on wildlife behaviour and the successful execution of our Wildlife Hazard Management Programme. Sonsequently, CPH has not set targets related to this impact. A description of how we work with targets in relation to air, water and soil pollution and noise levels can be found in E2-3 on page 66. The actions within those areas provide a greater understanding of CPH’s potential effects on ecosystems, as well as reducing the aforemen-tioned impacts. We do not yet track the effectiveness of our poli-cies and actions, nor do we have defined targets relating to nature-related impacts. Furthermore, we do not currently have defined levels of ambi-tion in relation to evaluating progress on E4 IROs.  E4-5  Impact metrics related to biodiversity and ecosystems change  Metrics related to air, water and soil pollution and noise levels can be found in E2-4 on pages 66-69. These metrics are used to evaluate the effective-ness of our actions to manage material pollution IROs. As pollution impacts are the key drivers of our potential impacts on ecosystems, reference is made to the metrics included in E2-4 for these material impacts. In relation to the material impact on wildlife management, under EU Commission Regulation no. 139/2014 we have obligations pursuant to article 10 Wildlife hazard management. In accordance with this regulation, we identify and describe each individual species that has been regulated and subsequently produce an annual report that describes the number of species per month as well as the total number of individuals regulated during the year. This report is submitted to the Danish Civil Aviation and Railway Authority and the Danish Environmental Protection Agency, and if a species is deemed of special interest to research, it will be delivered to the University of Copenhagen. Given the established mechanisms for reporting to relevant Danish authorities, CPH has not iden-tified additional metrics for the purposes of this sustainability statement. Material impacts, risks and opportunitiesE5  Resource use and circular economyResource inflows, including resource useResource use for construction and operation of infrastructure WhereCPH’s construction and renovation projects, including the development of terminals, air- and land-Upstreamside areas, tarmac, parking facilities, shopping centre and hangars, result in an actual negative and Own operationssystemic impact due to the significant consumption of natural resources. These projects require large quantities of materials, which contributes to the depletion of finite resources and results in notable Timeenvironmental impacts during the production and sourcing phases. Ongoing operation and main-Short termtenance of buildings and infrastructure require resources to sustain functionality. While operational Medium termimpacts are smaller in scale compared to the initial construction phase, they represent an important Long termfocus area for improving resource efficiency and reducing environmental impacts. Operationally, maintaining resource efficiency during the lifecycle of these projects is critical to reducing long-term IROenvironmental impacts. These impacts occur in our upstream value chain, including the sourcing and Actual negative  manufacturing of construction materials as well as transportation to the site, and in our own opera-impacttions, including the use of materials for maintenance and refurbishment activities.WasteWaste managementWhereWaste management is a critical component of our operations and value chain, playing a pivotal role Upstreamin advancing the circular economy through the separation and recovery of recyclable materials such Own operationsas paper, plastic, glass, metal and organic waste. Waste generation presents an actual negative and Downstreamsystemic environmental impact if proper sorting and recycling practices throughout our value chain are not ensured. A significant proportion of waste originates from the commercial airport shopping Timecentre (CASC), where the diverse international customer base makes it difficult to ensure consistent Short termwaste sorting. New waste sorting and recycling practices were introduced in 2025, yet we still face Medium termchallenges in meeting recycling targets — creating both operational inefficiencies and reputational Long termrisks. Inefficient waste handling not only increases the environmental footprint of airport operations but also represents missed opportunities to recover valuable materials. Importantly, there is untapped IROpotential to improve efficiency further, particularly through behavioural interventions that drive Actual negative  correct sorting and return practices.impactE Resource use and circular economyCPH aims to advance circular economy principles and optimise resource flows, and we have identified the following material impacts related to these objectives.We want to operate and develop CPH with respect for the earth's finite resources by working to drive the organisation towards more circular operations and strive to use less, better and for longer. Impact, risk and opportunity management  E5-1  Policies related to resource use and circular economyWe have established a policy to support the systematic identification, assessment and manage-ment of material impacts, risks and opportuni-ties associated with our use of resources. Our Environmental Policy is the foundation of our commitment to minimising environmental impact, including reducing waste and increasing the recy-cling and reuse of materials. The policy outlines a clear commitment to setting quantified, time-bound targets supported by robust implementa-tion plans.However, the policy does not explicitly encom-pass the transition away from the use of virgin resources, nor does it directly address the sustainable sourcing and utilisation of renewable resources. The policy is overseen by the Chief Sustainability Officer and is accessible to all CPH employees. E5-2  Actions and resources related to resource use and circular economy  We have identified two key material impacts associated with resource use: resource inflows and waste generation. In response, our strategies and resource allocation are structured to address each material impact separately, ensuring that all initiatives and action plans are directly aligned with either the efficient management of resource inflows or the handling of waste.In 2025, the focus within waste management was on executing key projects aimed at improving the overall quality of our waste handling processes and facilities across priority areas of the airport. This includes a full roll-out of optimised waste sorting in passenger-facing areas with an addi-tional 171 smart bins, waste sorting solutions for all employees, improved recycling stations and outdoor sorting stations. 54 waste sorting stations were established in order to give all tenants easy access to sorting facilities. The imple-mentation of a more efficient waste management system involves a substantial investment in smart bin technology as part of a broader strategic initiative. It is expected that all the above will have been fully implemented by early 2026. In addition, an ongoing analysis is assessing how an enhanced set-up for in-flight waste could help improve the quality of waste management at CPH.To ensure optimal and correct use of equipment, ongoing awareness initiatives have been imple-mented, backed up by regular status reviews and optimisation meetings with operational personnel.In 2025, a partnership was established with an external waste handler to manage all landside waste operations. As part of this transition, the contractor also assumed primary responsibility for data collection related to waste volumes and treatment methods, resulting in improved data quality and more comprehensive waste reporting. These initiatives have a wide scope, targeting waste generated by passengers, employees and tenants, and include downstream collab-oration with recycling partners. The resulting impact extends beyond the boundaries of CPH, contributing to reduced resource depletion and a decreased reliance on landfill. Furthermore, our collaborations with leading industry stakeholders are expected to support the advancement of best practices in waste management both nationally and internationally.Regarding circularity in construction, extensive work has been initiated to define the framework for implementing a construction process that integrates circular economy principles. However, no compre-hensive actions or resource allocations have yet been implemented, and consequently systematic tracking of progress and effectiveness are not in place. In parallel, we have begun exploring practices such as prefabrication and material reuse in infrastruc-ture projects. This works builds on the identifica-tion in 2025 of key material hotspots with high embodied GHG emissions. In this regard, pilot projects have been initiated in order to gain opera-tional knowledge. As part of these initiatives, work also continued in preparing the next steps for testing low-carbon concrete solutions and further assessing their suitability for future use. While progress remained largely preparatory during the year, underlying activities are ongoing, and further developments are expected as pilots advance in 2026, subject to external timelines. During 2025, several smaller-scale circular actions were also completed. This included the reuse of ceiling panels from previous construction works in the building of Terminal 3, with a focus on reducing the need for new materials and avoiding waste. Likewise, old façade elements were repur-posed for Terminal 3, and crushed concrete from old runway areas was recycled for use in infra-structure projects at Roskilde Airport. Metrics &amp; targets  E5-3  Targets related to resource use and circular economyCPH has set a voluntary 2030 recycling target of 60%, which forms part of the ongoing waste management programme. This target is supported by a waste management action plan, which will be further developed during 2026. This target entails that 60% of our total oper-ational waste must be diverted from residual waste, ensuring it is sorted and sent to the appro-priate treatment facilities for proper recycling. The remaining amount of waste that is sorted as residual waste is sent for energy recovery, contributing to local district heating production. This means that energy recovery is not considered part of the recycling rate. Instead, energy recovery volumes are monitored and reported in parallel as their own treatment category. The target does not include construction and demolition waste or in-flight waste.With an increased focus on strengthening the accuracy and quality of underlying data, CPH has implemented a new system providing detailed insight into waste volumes, treatment methods and recycling rates. In 2025, the recycling rate reached 32.9%, which should be seen in the context of overall passenger growth.In 2025, a target was also set to increase the recy-cling rate by 5%. This target was not achieved, as projects required more time for implementation and additional processes are needed to ensure correct material handling by all stakeholders. Continuous efforts are ongoing to optimise these processes and further strengthen recycling prac-tices across the organisation, and early results from the end of the year show an upwards trajec-tory. This target is directly linked to the objective in our Environmental Policy to reduce our overall environmental impact. The target covers all waste generated across our operations throughout the value chain, including activities at Copenhagen Airport and Roskilde Airport.No specific targets have been established for the other levels of the waste hierarchy; however, initiatives have been launched to promote reuse and thereby contribute to minimising waste generation.While the circularity strategy is being imple-mented, time-bound and outcome-oriented targets to monitor progress have not yet been established. Consequently, the effectiveness of actions addressing material impacts related to the construction and operation of infrastructure, as well as the performance of related policies and initiatives, is not yet systematically tracked.The construction workstream, as part of the circularity strategy, aims to avoid unnecessary new construction and components, reduce the use of virgin materials and enable reuse. The overall objective is to enhance resource efficiency and design constructions for longevity, adaptability and disassembly.CPH has exercised the provision to omit metric information for E5-4, as our material impact related to the subtopic Resource inflows, including resource use, is exclusively located in our upstream value chain for construction of new buildings. E5-5  Resource outflows - wasteDue to the complex nature of our organisation, managing the substantial volume of waste repre-sents a significant challenge, including the adap-tation of waste solutions to the various waste fractions and operational areas across the airport. The recycled waste typically contains fractions and materials such as electronic waste, glass, plastics, biowaste, paper, cardboard, metal, street sweep-ings and beverage packaging. A significant share of the remaining waste is residual mixed material waste unsuitable for further separation, which is sent for energy recovery. A smaller proportion of waste is treated through other specific waste management solutions, including hazardous waste handling.In 2025, we continued our work on improving sorting conditions across the organisation. This included a wide range of stakeholders, encom-passing employees, passengers, operations personnel and external waste management contractors.This ensures that a significant share of the waste generated at the airport is subject to effective recycling processes, thereby contributing to the company’s alignment with its sustainability objec-tives and the principles of the circular economy. As CPH does not carry out any production activities and does not manufacture products or materials, the disclosure requirements related to product durability, reparability and proportion of recyclable content are not applicable to our operations.Methodologies and significant assumptions related to our metrics can be found in the E5 accounting policies on the next page.Table 1: Resource outflows – wasteWaste (kg) 2025   2024*  Total amount of waste generated 5,078,885 4,982,967 Recovery operations breakdown 5,042,825 4,828,301  Preparation for reuse 0 0 Recycling 1,678,365 1,661,911  Other recovery 3,364,460 3,166,3901Total amount of waste diverted from disposal 5,042,825 4,828,3012  Hazardous waste 48,602 81,9513  Non-hazardous waste 4,994,223 4,746,3504Waste directed to disposal  36,060 154,6665 Incineration 0 0 Landfill 3,710 13,980  Other disposal 32,350 140,68667Hazardous and non-hazardous waste in disposal 36,060 154,6668  Hazardous waste 0 09  Non-hazardous waste 36,060 154,66610Total amount of non-recycled waste  36,060 154,66611  % of non-recycled waste 1% 3%Hazardous and radioactive waste 12  Total hazardous waste 48,602 81,951  Radioactive waste 0 0*2024 numbers are adjusted due to incorrect population of table. 1, 2, 3 Adjusted from N/A. 4, 7 Adjusted from 3,283,466. 5 Adjusted from 3,154,450. 6 Adjusted from 115,036. 8 Adjusted from 65,688. 9 Adjusted from 3,217,778. 10 Adjusted from 3,321,056. 11 Adjusted from 67%. 12 Adjusted from 72,331.  § Accounting policiesAll metricsAll metrics cover the reporting period 1 January 2025 – 31December 2025.E5-5 - WasteCPH categorises waste in accordance with the waste hierarchy of the EU Waste Framework Directive (2008/98/EC), using 18 different waste groups summarising different waste types referred to as "fractions" in CPH terminology. Total waste includes the waste that enters CPH's waste containers - regardless of the source - in connection with the general operation of the airport. Waste is reported on the basis of invoices or data received from waste collectors. Waste disposal methods are reported based on the different end-of-life treatments defined by the local waste collector. CPH combines all the data and ensures alignment and categorisation according to the ESRS from the collectors to ensure all frac-tions and quantities are accounted for and reported.CPH’s waste collectors send small combustibles for energy-recovery incineration as part of the Copenhagen district heating system.The significant reduction in non-hazardous waste in disposal is due to last year’s shutdown of the PFAS facility, which required a large quantity of waste from the filters and system to be sent to disposal. The shutdown also meant that sand-drain waste streams were classified as hazardous. This year, it was possible to keep the streams separate, reducing the total hazardous waste diverted from disposal.The waste generated by construction (typically construction and facility waste) that is handled by external contractors is not included. For this type of waste, the contractor is required to at least handle the waste in accordance with the current regulations in the waste area. Hence, the total amount of waste generated can be tracked, but the distribution of waste collected from different areas within the airport is not documented.S1 Own workforceEqual treatment and opportunities for allGender underrepresentation across own workforce and within management WhereUnderrepresentation of women in leadership roles could lead to a perception that the workplace Own operationsenvironment is not gender-inclusive, offers fewer opportunities for women to progress and perpet-uates gender inequity. These factors can negatively affect the wellbeing and job satisfaction of Timewomen in the workforce and thus this impact also has systemic elements. It is our view that a diverse Short termand inclusive workforce fosters innovation and productivity, and we therefore consider diversity and Medium terminclusion to be central to achieving our strategic goals, making diversity, equity and inclusion (DEI) a key strategic focus for CPH.IROActual negative  impactTraining and skills development initiatives support professionalWheredevelopment of our own workforceOwn operationsMaintaining a highly skilled workforce is central to delivering safe, efficient and effective services, especially given the complexity of the airport environment. We have several academies dedicated Timeto creating training material to support skills and knowledge growth across the organisation. This Short termincludes an academy focused solely on upskilling and training of security staff. Through targeted Medium termtraining and development initiatives, as well as through continuous learning opportunities and Long termupskilling, we consider our contribution to these impacts to be positive in our own operations. It is important for us to empower our employees through continued skills and professional development, IROimproved job satisfaction and enabling career advancement opportunities at CPH.Actual positive  impactEmployees with particular characteristics may face invisible barriers at workWhereSome members of our workforce may experience barriers linked to their personal characteristics Own operationsor circumstances, leading to unequal access to opportunities and a reduced sense of inclusion. This impact stems from the broader structural nature of bias in workplaces, where individuals may Timeencounter unconscious or conscious discrimination if inclusion is not actively nurtured. To address Short termthis, CPH works to ensure equal opportunities and foster an inclusive environment where everyone Medium termcan bring their full selves to work. Actively countering these systemic impacts is a core element of our people strategy, supporting a workplace where all colleagues can access the same opportunities and IROrealise their full potential.Actual negative  impactS Own workforce Our ability to deliver operational excellence depends on our people, and CPH has identified the following impacts related to our own workforce.Material impacts, risks and opportunitiesS1 Own workforceWorking conditions – health and safetyRisk of accidents, injuries and managing occupational healthWhereWorking in an airport environment inherently exposes workers to health and safety impacts due to Own operationsthe scale, pace and complexity of operations, where large volumes of passengers, aircraft movements, heavy equipment and time-critical tasks create conditions that can increase the risk of work-related Timeinjuries. These impacts are particularly relevant for colleagues in high-risk functions such as security, Short termconstruction, maintenance and cleaning, where daily tasks carried out air- and landside involve phys-Medium termical work, machinery, vehicle traffic and close interaction with operational processes. To manage these Long termsystemic impacts, CPH has a workplace safety strategy developed by our health and safety organisa-tion, ensuring that preventive measures are tailored to the specific risk levels of different job functions, IROwith particular attention given to roles with higher exposure. Actual negative  impactThe nature of our operations requires a diverse workforce, including operational staff, administrative personnel and contractors, all of whom contribute to delivering seamless and safe travel experiences for millions of passengers annually.We therefore place a high priority on safe-guarding the physical, social and psychological safety of everyone in our workplace. Ensuring the health, safety and wellbeing of our workforce is a fundamental element of our people strategy and part of our DNA. We believe that personal phys-ical and psychological health and wellbeing are essential foundations for leading a balanced life and unlocking individual potential.We are committed to creating an environment where everyone, regardless of their individual characteristics, feels safe and has the optimal conditions to do their work and thrive.  Impact, risk and opportunity management S1-1  Policies related to own workforceThe following policies are implemented through our learning management system and apply to all employees at CPH. The policies are accessible to employees through our intranet.Employee Code of ConductThe Employee Code of Conduct (the “Code") outlines the behavioural standards we expect of all members of our workforce. The Code is approved by the Corporate Leadership Team, and our People department is responsible for imple-menting day-to-day actions based on the Code. The Code details CPH’s commitments to respect, protect and promote international fundamental principles, conventions and laws concerning human and labour rights. The Code sets forth the expectation that employees treat others with respect and dignity, and do not violate or participate in the violation of the rights of others. The Code is aligned with the UN Guidelines on Business and Human Rights, the OECD Guidelines for Multinational Enterprises, the ILO conventions on workers’ rights, the UN Global Compact and the Universal Declaration of Human Rights. As such, it is affirmed in the Code that CPH will not tolerate any form of human trafficking, forced labour or child labour in the workplace or in our supply chains.Working Environment PolicyOur Working Environment Policy and its supporting procedures govern our approach to ensuring a healthy and safe working environment, both physically and mentally, in accordance with our UN Global Compact commitments. The policy details our ambition to foster a strong prevention culture, support strong physical, mental and social wellbeing, and achieve a workplace that is free of accidents, injuries and work-related illnesses. The Working Environment Policy applies to all employees and temporary workers, but excludes non-employees within CPH’s workforce. Manage-ment is ultimately responsible for its implemen-tation, and our People Health and Safety (PHS) department monitors and reviews the policy as required based on input from annual surveys and feedback from employees and the authorities.Diversity and Inclusion PolicyWe aim to cultivate a diverse and inclusive work-force, and our Diversity and Inclusion Policy sets out CPH’s position on diversity, equity and inclu-sion. The policy defines behavioural principles in rela-tion to several diversity markers, such as gender balance and equality, age and educational back-ground.The Diversity and Inclusion Policy is approved by the Board of Directors, and the Chief People Officer is the most senior person accountable for its implementation. The People department reviews the Diversity and Inclusion Policy, and suggests any updates or changes to the Executive Board for approval. S1-2  Processes for engaging with own workers and workers’ representatives about impactsOccupational workplace assessmentsEmployee perspectives are incorporated into workplace decision-making through health and safety representatives, who sit on the General Occupational Health and Safety Committee ("Hovedarbejdsmiljøudvalg" or HAMU).Another tool for engaging with our workforce is our occupational workplace assessment (APV), which provides comprehensive insights into workplace health and wellbeing that guide our ongoing efforts to create a more secure and supportive workplace culture. The APV gives us an understanding of which groups of employees are most vulnerable to health and safety impacts that are more driven by work function than demo-graphics.Historically, the APV has consisted of two separate surveys, each sent to all CPH employees. One survey focuses on the physical working environ-tional shift, much of the focus naturally turned towards shaping a renewed strategic direction and recalibrating priorities. In this process, some of the actions initially planned for 2025 were not carried out and will not be taken forward. This shift in focus is reflected in the progress disclosed for 2025, which will appear more limited when compared with the 2024 disclosure, as the organisational transition has influenced the year’s outcomes. However, as part of the strategic shift, new actions have been initiated, and these will be disclosed under the section “Actions taken during the  year”.Operationally, resources are allocated on an ongoing basis to ensure continuity in core activ-ities and to redirect capacity where needed to ensure we are well positioned to execute on the renewed strategic direction.Based on findings from the APV and, going forward, the engagement survey, the People department identifies areas for improvement at an organisational level, while local managers are responsible for planning, leading and coordinating the daily work related to the working environ-ment. Actions to mitigate or address health and safety impacts may be identified, implemented and resourced directly by the PHS department or by All health and safety incidents are documented in the management system through the PHS depart-ment. For non-emergency concerns, employees are advised to first discuss issues with their direct manager or the Director of Health and Safety. CPH ensures employees are aware of these reporting channels by publishing them on the employee intranet, and of their effectiveness through regular reporting and trend analysis. The PHS department provides regular reports to the Executive Management and the Audit and Risk Management Committee (ARMC). This includes voluntary additional reporting on safety data from CPH construction sites.As a final measure, members of our workforce may anonymously report violations of the Code of Conduct or other behavioural issues through our whistleblower mechanism. The whistleblower mechanism is described in more detail in section G1-1 Business conduct on page 107. S1-4  Taking action on material impacts on own workforce, and approaches to managing risks and pursuing opportunities related to own workforce, and effectiveness of those actionsThe level of progress reported for 2025 should be understood in the context of a year marked by transition within the People organisation. As the department moved through an organisa-ensure an open environment where employees can express their concerns at all times without fear of retaliation.CPH encourages all employees in the first instance to raise concerns directly with their immediate manager or with the People department. This includes employee-related complaints, for example dissatisfaction with salary conditions or interpersonal issues. Employees can also raise concerns with their trade union or health and safety representative. In compliance with Danish regulations, each department has an elected health and safety representative. These representatives receive specialised training in occupational health and safety and wellbeing to effectively support employees. Workers can report workplace concerns anonymously to these representatives, who will escalate issues to the Health and Safety Organisation or the PHS department as necessary.In the event of severe health and safety incidents at our airport sites, CPH will take measures to provide immediate support to the individuals involved and seek to learn the lessons. This means reporting severe incidents to the Execu-tive Management and conducting a root cause analysis to identify mitigating and preventative actions. ment, covering topics such as ergonomics, work-place accidents, sickness and general wellbeing. The other survey addresses mental wellbeing, with questions related to psychological safety, diversity and inclusivity.The results of the APV are published on our intranet, and managers are instructed to discuss the APV findings with their teams, ensuring employee feedback drives meaningful improve-ments and translates into specific action plans. CPH assesses employees’ trust in raising concerns through the APV, which includes a dedicated question on whether employees feel comfortable talking to their manager.The PHS department works in tandem with the Safety Organisation and HAMU to prepare and undertake the APV. The Director of Health and Safety is the most senior person with operational responsibility for the APV. S1-3  Processes to remediate negative impacts and channels for own workers to raise concernsImpacts can take different forms of varying severity. CPH has therefore established several channels for members of our workforce to report concerns and incidents and have them addressed. The Employee Code of Conduct stipulates that managers and above have a responsibility to and safety training to ensure that both oper-ational and office-based employees maintain the competences required to support safe and compliant airport operations. For some roles, the type of training is required by law. All training programmes include mandatory security and disa-bility awareness training, which must be repeated by all workers every other year. Training of security employees is described in more detail in section S4-4 on page 104.Addressing bias in recruitment To address barriers that impede access to fair and equitable opportunities, we have identified and launched a number of initiatives with the purpose of enhancing an inclusive culture.Diversity among our employees and job appli-cants is important to us at CPH. We aim to reflect society and believe that everyone brings to the table something of value. To ensure equality in CPH’s recruitment practices, we enforce guidelines on how we introduce inclusivity when posting job advertisements. For example, we ensure that our communication is free of biased language to ensure it speaks to everyone regardless of diver-sity characteristics.Actions taken during the yearHealth and safety in practiceBased on a series of dedicated workshops held to address health and safety impacts relating to recommendation from the Health and Safety Organisation.Ongoing actionsTraining and networksAll health and safety representatives and health and safety leaders receive training as part of an annual health and safety conference. This training covers key health, safety and wellbeing topics, including how to report incidents and illness, near-misses, psychological safety, ergonomics and pain. This ongoing action ensures individuals in key positions of responsibility are well equipped to prevent, mitigate and respond to health and safety impacts in their areas.Incident monitoringManagers of teams in air- and landside roles with higher risk of accidents and incidents monitor health and safety accident data on a weekly basis. This ensures managers conduct due follow-up on all incidents and enables early identification of any systemic patterns or issues.Mandatory training  All people who work at CPH, including employees, non-employees and other value chain workers, are assigned a specific training programme. We run dedicated internal training academies with a strong focus on safety and security, complemented by tailored learning programmes for corporate functions' health to targets for leaders enrolled in the employee incentive programme, reinforcing the importance of creating a healthy and inclusive work environ-ment.CPH monitors performance against several metrics, including psychological and occupational safety. These targets are tied to the employee bonus programme with a 15% weighting. CPH also measures the effectiveness of the APV through the participation rate. All the actions described above are designed to mitigate potential and actual risks and negative impacts, and to ensure that CPH's own practices do not impose further risks or negative impacts on our own workforce.Metrics &amp; targets S1-5  Targets related to managing material negative impacts, advancing positive impacts, and managing material risks and opportunitiesWorking conditionsTo support efforts to mitigate negative health and safety impacts on our own workforce, CPH has set targets for two safety-related metrics, as described below.To support early-career development, CPH will launch a more structured career development programme in 2026, ensuring clearer pathways for growth and progression within the organisa-tion. CPH also plans to increase the number of office apprentices and trainees.Identifying actions and tracking performance  Actions to address impacts related to gender, diversity and inclusion are identified by the People department. This department also identifies and initiates actions relating to training and skills development. CPH tracks the effectiveness of actions and initi-atives to improve gender representation through our diversity targets and by monitoring the gender split of the workforce, and tracks the effective-ness of our health and safety policies, procedures and actions by assessing performance against key targets and monitoring key metrics. We also request qualitative feedback from employees through the APV. In support of the engagement survey format, new leadership assessments will be introduced to eval-uate how leaders deliver on CPH’s new Leadership Commitments, which were rolled out in Q3 2025. These assessments will be launched in Q3 2026, and all leaders will be evaluated based on these commitments. Furthermore, leader performance on employee wellbeing will be directly linked New governance modelDespite our strategic focus on diversity, the gender distribution across leadership roles remains skewed. In 2025, we therefore introduced a new governance model to accelerate progress towards a more even gender distribution.  Through increased transparency and documenta-tion, this model aims to: · Increase the promotion rate for internal female talent · Ensure qualified women are considered for all leadership roles · Support a healthily performing airport through inclusive leadershipEmpowering every stage of the employee journeyIn 2025, CPH strengthened its commitment to supporting employees at different stages of their careers. The senior scheme, originally introduced in 2019, was updated and approved in Q3 to improve conditions for all employees aged 60 and above. This includes enhanced flexibility and support tailored to the needs of senior staff.Additionally, a Senior Corps initiative has been introduced to further engage and retain experi-enced employees by offering meaningful roles and opportunities for continued contribution.particular areas of CPH’s operations, action plans were developed and made available to all relevant employees.As part of Safety Week, our annual thematic week focused on ensuring safe practices and employee responsibility, the PHS department ran a workshop that addressed ergonomics and preventative exercises employees can perform to ensure good physical health in more static func-tions. CPH also rolled out a new app for reporting near-misses, which will make reporting incidents simpler and more easily accessible.In 2025, the PHS department purchased four mobile instruments for measuring ultrafine parti-cles. The purpose is to ensure a robust data foun-dation for planning to address potential negative health and safety impacts of compromised air quality. These mobile instruments are posi-tioned in areas where employees have reported nuisances. The PHS department and EMC work together closely to interpret the results and plan for remediation. CPH has also worked towards introducing a comprehensive engagement survey incorporating new questions aimed at measuring employee engagement. This will be rolled out in 2026.  S1 -1 4   Health and safety metricsHealth and safety metrics 2025  2024Percentage of workforce covered by H&amp;S management system  100% 100%Number of fatalities 0 0Own employees 0 0Value chain workers working on own sites 0 0Rate of absence due to illness 5.4% 5.8%  Operational roles 6.7% 6.6%*  Corporate roles 2.1% 2.2%*Number of recordable work-related accidents 158 1331  Less than 1 day absence 111 79*  More than 1 day absence 47 54Occupational injuries per one million working hours (LTIF) 34.5 32.42  Less than 1 day absence 24.2 18.8*  More than 1 day absence 10.3 12.6*Restated as previously not reported. 1 Adjusted from 54 due do completeness error. 2 Adjusted from 12.6 due do completeness error.    S1-17   Incidents, complaints and severe human rights impactsIncidents of discrimination, harassment and human rights violation 2025   2024Incidents of discrimination &amp; harassment 2 2Complaints filed through grievance/complaints mechanisms 1 0Number of complaints filed to National Contact Points for OECD multinational enterprises 0 0Severe human rights incidents connected to workforce 0 0Of which cases of non-respect of UNGPs and OECD guidelines 0 0Total amount paid in fines, penalties and compensation for damages 0 0CPH has exercised the phase-in provision to omit reporting on cases of work-related ill-health (88d) and days lost to work-related injuries, ill-health, accidents and fatalities (88e).In 2025, we worked on a concept to improve processes, data management and the dialogue between managers and employees regarding absenteeism. This concept will be rolled out in 2026. Rate of recordable work-related accidentsTo align with industry benchmarks, in 2025 CPH adjusted its relative annual target for work-re-lated accidents, aiming to record no more than 10 occupational injuries with more than 1 days of absence per one million working hours (LTIF) among CPH employees. In 2025, CPH achieved a decrease from 2024, recording 10.3 injuries, which brings us very close to our target. To foster learning from these incidents, root cause analyses are conducted, and the AMO is trained in systematic learning practices. Furthermore, senior management follows up on accidents in the high-est-risk areas on a weekly basis to ensure contin-uous improvement. This relative target applies to all employees at CPH and as this is an ongoing target we have not set a baseline year or baseline value.Additional health and safety metrics relating to value chain workers are disclosed in S2 Workers in the value chain on page 98.Both targets help CPH to identify trends and measure the effectiveness of our initiatives to mitigate workplace safety risks and improve employee health and wellbeing. Performance against health and safety targets is monitored by the PHS department and reviewed by the Corpo-rate Leadership Team on a monthly basis.Stakeholders, including members of CPH’s work-force, were not directly involved in target setting, and the General Occupational Health and Safety Committee (HAMU) was engaged directly in monitoring performance against these targets. The performance is also presented to our Working Environment Committee (AMO) on a semi-annual basis. However, our leadership team is responsible for engaging all employees in identifying lessons for improvement through the APV process. This typically occurs through departmental meetings.Rate of absence due to illnessIn 2025, CPH set targets for rate of absence due to illness of 6.2% for operational roles and 3.5% for corporate roles, benchmarked against industry averages. In 2024, there had been an overall target of 4.5%. The ARMC continually monitors performance against targets. This relative target applies to all employees at CPH, and as this is an ongoing target we have not set a baseline year or baseline value. In 2025, the absence rate was 5.4%.This means CPH aims to have a workforce with at least 40% representation of the underrepresented gender (currently women) by 2030. This relative target applies to all CPH employees and applies separately to the Executive Management level of CPH and all management levels below that.Our target for gender diversity is an absolute value. We therefore assess progress based on our diversity goal rather than comparing it to a base-line year.In 2025, women represented 36% of our total workforce, in line with the gender distribution reported in 2024. During the year, we onboarded several hundred new employees, and maintaining the gender split amid growth is considered satis-factory. We remain committed to advancing our diversity efforts and continue to work towards achieving our 2030 targets.Board diversity targetsCPH’s Board of Directors has established goals for the underrepresented gender. CPH aims to achieve at least 40% representation of the under-represented gender by 30 June 2026. This goal was achieved in 2025 when the new Board was established, with three of seven non-employee members (43%) being women. For more informa-tion on the composition of the Board of Directors, please refer to page 34 of the Management's review.Stakeholders, including members of CPH’s work-force, were not directly involved in target setting. CPH has not set targets relating to other diversi-ty-related metrics. The metrics presented on the next page include all employees directly employed at CPH. All employees are located in Denmark at our locations in Copenhagen and Roskilde. Due to the nature of our data, we distinguish between female and male when accounting for gender diversity.Gender diversity targetsCPH is committed to promoting a diverse work-force across all levels of the organisation, and in 2025 we reframed our gender diversity targets:Further description of the methodologies and significant assumptions related to the metrics is provided in the S1 Accounting policies section.  S1-6  Characteristics of own employeesNumber of employees (headcount) 2025   2024Female 1,090 1,019Male 1,964 1,816Total 3,054 2,835Employee turnover 2025   2024  Employee turnover rate (%) 12.1% 11.8%Number of employees who left in the period 363 325Number of FTEs 2025   2024  Number of employees (FTE) 2,898 2,671 Male 1,899 1,750* Female 999 921*Number of permanent employees (FTE) 1,074 946 Male 677 600* Female 397 346*Number of temporary employees (FTE) 14 14 Male 8 9* Female 6 5*Number of non-guaranteed hours employees (FTE) 1,810 1,710 Male 1,214 1,140* Female 596 570**Restated as previously not reported.   S1-9   Diversity metrics2025   2024  Gender diversityWomen in top management (Board) 3 (43%) 1 (16.7%)Women in top management (senior leadership positions) 10 (31.3%) 16 (34.8%)Distribution of employees by age groupUnder 30 years old 10.2% 8.6%30-50 years old 46.2% 44.6%Over 50 years old 43.5% 46.8%  S1 -1 6   Remuneration metrics 2025   2024  1Gender pay gap 10.9% 11. 8%Remuneration ratio of the highest paid individual  17.7 17.421 Adjusted from 9.7% due to completeness error. 2 Adjusted from 20.2 due to completeness error. § Accounting policiesAll metricsAll metrics cover the reporting period 1 January 2025 – 31 December 2025.S1-6 - Total number of employees and gender distribution  (§50a)CPH defines gender based on social security numbers, hence the data exclusively distinguishes between female and male. The categories "Other" and "Not disclosed" are not reported on due to GDPR restrictions on data collection. The reported headcount is calculated at year-end. Calculations include all employees (both full-time and part-time). The data is extracted from our HR register and payroll system. General payroll processes ensure a high level of quality in the data. S1-6 - Permanent, temporary and non-guaranteed hours employees  (§50b)CPH reports the distribution of FTEs from year end in accordance with the financial statements. Temporary employees are defined as apprentices, substitutes and office students. Non-guaranteed hours employees are defined as employees employed on a contract without specified working hours. Permanent employees are defined as officials and employees employed on a full-time contract. Calculations include all employees. The data is extracted from our HR register and payroll system. General payroll processes ensure a high level of quality in the data. The categories "Other" and "Not disclosed" are not reported on due to GDPR restrictions on data collection. S1-6 - Total number of employees who left  (§50c)CPH accounts for all employees who have left CPH, regardless of the cause, during the accounting year. CPH uses the termination month (the last month an employee is on CPH’s payroll). Calculations include all employees (full-time and part-time). The data is extracted from our HR register and payroll system. General payroll processes ensure a high level of quality in the data.S1-6 - Employee turnover rate  (§50c)The employee turnover rate is calculated as:  Number of employees who have left CPH during the financial year   Employee turnover =     Headcount of all employees at the end of the financial yearCalculations include all employees (full-time and part-time). The data is extracted from our HR register and payroll system. General payroll processes ensure a high level of quality in the data.S1-9 - Distribution of employees by age  (§66b)The age of all employees is determined as the age at year-end. Calculations include all employees (full-time and part-time). The data is extracted from our HR register and payroll system. General payroll processes ensure a high level of quality in the data.S1-14 - Fatalities  (§88b)CPH defines fatalities as the number of deaths resulting from a work-related incident or exposure occurring in the course of their employment. Calculations include all employees (full-time and part-time). CPH stores data on work-related accidents in SafetyNet, which is an external system used for reporting and monitoring. More-over, CPH is obligated to report all work-related injuries, including fatalities, to the Danish Working Environ-ment Authority (WEA), which may inspect companies based on the reports received.  CPH defines fatalities amongst contractors as the number of deaths resulting from a work-related incident or exposure occurring in the course of their work at or related to projects at CPH airport. Calculations include all contractors (full-time and part-time). CPH stores data on work-related accidents in SafetyNet. Moreover, CPH is obligated to report all fatalities to the Danish Working Environment Authority (WEA).S1-14 - Absence due to illness Rate of absence due to illness is calculated for all CPH employees, in total and split into corporate and oper-ational roles. Operational staff operate under shifts and register timesheets in a specific system used for managing shifts, while corporate roles have fixed weekly working hours and register in SAP. The calculation is done by adding the total number of hours due to sickness-related absence divided by total normal working hours per employee. S1-14 - Work-related accidents  (§88c)CPH defines work-related accidents as incidents in connection with work that lead to a person being phys-ically or psychologically injured, cf. the Danish Working Environment Authority (WEA). Calculations include all employees (full-time and part-time). CPH stores data on work-related accidents in SafetyNet, which is an external system used for reporting and monitoring. Moreover, CPH is obligated to report all work-related inju-ries, including fatalities, to the Danish Working Environment Authority (WEA), which may inspect companies based on the reports received. CPH reports separately on accidents with less than one day of absence and one or more days of absence. This is to show the difference versus the WEA report, where it is only required to report on accidents with one or more days of absence.S1-14 - Rate of recordable work-related accidents  (§88c)The lost-time injury frequency (LTIF), which represents all incidents reported per million working hours, is calcu-lated as:  Number of cases with absence x 1,000,000  LTIF =                     Total hours workedCalculations include all employees (full-time and part-time). CPH stores data on work-related accidents in Safety  Net, which is an external system used for reporting and monitoring. Moreover, CPH is obligated to report all work-related injuries, including fatalities, to the Danish Working Environment Authority (WEA), which may inspect companies based on the reports received. CPH reports separately on accidents less than one day of absence and one or more days of absence. This is to show the difference versus the WEA report, where it is only required to report on accidents with one or more days of absence.S1-16 - Gender pay gap  (§97a)Calculations include all employees (full-time and part-time) employed on 31 December. Due to the nature of the data, CPH distinguishes between male and female exclusively.   Average gross hourly pay level of male employees Gender pay gap =  - Average gross hourly pay level of female employees   Average gross hourly pay level of male employees  *100The data is extracted from our HR register and payroll system. General payroll processes ensure a high level of quality in the data.S1-16 - Annual total renumeration ratio  (§97b)Calculations include all employees (full-time and part-time). Annual total remuneration includes all fixed salary elements, including base salary, pension and other benefits, and bonus. Annual total remuneration ratio =  Annual total remuneration for the undertaking's highest paid individual   Median employee annual total remuneration (excl. highest paid individual)The data is extracted from our HR register and payroll system. For further information on remuneration, please see our annual Remuneration Report.S1-17 - Incidents of discrimination &amp; harassment  (§103a)The number of incidents of discrimination reported comprises substantiated incidents within CPH's own work-force related to discrimination and harassment, which CPH defines as threats, physical violence and unintended sexual attention as well as discrimination related to sex, gender, religion, disability, etc. Cases are reported to the HR department through leaders, union or employee representatives, or through the whistleblower mechanism. At present, the Group’s formal processes are not designed to fully capture ESRS-required metrics pertaining to S1-17. The reported figures include all employees (full-time and part-time). CPH uses an external provider for its whistleblower mechanism.S1-17 - Complaints filed through grievance/complaints mechanisms  (§103b)CPH reports the number of complaints filed through grievance/complaints mechanisms as the number of cases filed through our whistleblower mechanism relating to our own employees. The reported figures include all employees (full-time and part-time). CPH uses an external provider for its whistleblower mechanism.S1-17 - Number of complaints filed to National Contact Points for OECD multinational enterprises  (§103b)The number of cases reported to the Danish Business Authority and communicated to CPH. The reported figures include all employees (full-time and part-time).S1-17 - Total amount paid in fines, penalties and compensation for damages  (§103c-104b)CPH reports on the total amount of fines, penalties and compensation directed at remediating any victim(s) of an incident of discrimination or harassment based on mutual agreements between the employee(s) and our HR department. The reported figures include all employees (full-time and part-time).S1-17 - Severe human rights incidents connected to workforce  (§104a)CPH reports the number of severe human rights incidents by compiling the number of cases classified as severe human rights incidents, cf. section 99a of the Danish Financial Statements Act, filed through our whistleblower mechanism, annual APVs and HR department. The reported figures include all employees (full-time and part-time).S1-17 - Cases of non-respect of UNGPs and OECD guidelines  (§104a)CPH reports the number of cases of non-respect of UNGPs and OECD guidelines by compiling the number of cases, classified as per section 99a of the Danish Financial Statements Act, filed through our whistleblower mechanism, annual APVs and HR department. The reported figures include all employees (full-time and part-time). S Workers in the value chainCPH is committed to contributing to a safe working environment, and we have identified the following impact for our value chain workers. Material impacts, risks and opportunitiesS2  Workers in the value chainWorking conditionsRisk of accidents, injuries and managing occupational health  Wherefor value chain workers at CPH sitesUpstreamWorking in an airport environment, value chain workers (workers materially impacted by CPH Own operationsare workers who work at the airport sites but are not part of our own workforce) are exposed to Downstreamoccupational health and safety risks carrying out their work. Workers are always encouraged to adhere to safety practices, and those working at CPH sites cooperate closely with our Health and TimeSafety Organisation. Impacts could include injury from the use of heavy equipment, accidents due Short termto mechanical failure or human error for cargo workers, or chronic health conditions resulting from Medium termair pollution and silica dust inhalation for workers involved in construction. The effects of health and Long termsafety impacts on individuals and on CPH are considered systemic. The impacts are described in S1 Working conditions on page 86.IROAll workers who could be materially impacted are included in the scope of this disclosure. CPH's Actual negative value chain includes activities and services vital for operating the airport, such as those related impactto cargo handling and operation of flights, and shops in the shopping centre. In these situations, workers in the value chain must adhere to safety practices, but are still exposed to occupational health and safety risks carrying out their work due to the nature of their roles. The value chain workers may therefore also be affected by our own operations. Where CPH is engaged in construc-tion activities relating to new buildings and maintenance work, where the inherent risk of accidents is higher, we have a responsibility to promote and ensure health and safety on the construction sites.This actual negative impact is considered individual in nature and therefore systemic.CPH is committed to contributing to a safe working environment where risks are proactively identified, mitigated and addressed.This means complying with Danish legal require-ments relating to health, safety and wellbeing, and working proactively with contractors and third parties to ensure a common approach to health and safety at the airports. Exposed workers in the value chain include those performing airside or landside roles, including cargo workers, airline handlers and construction workers.Impact, risk and opportunity management S2-1  Policies related to value chain workers  Ultimately, responsibility for the health and safety of contractors’ workers rests with their employers, in accordance with Danish law. Contractors are required to adhere to Danish working environ-ment requirements in respect of their employees, and value chain workers at CPH’s sites are covered by their employers’ health and safety policies and procedures. However, as a construction client, CPH has a legal responsibility to coordinate health and safety at construction sites when more than one employer is present.As a member of the UN Global Compact, CPH is committed to supporting and respecting inter-nationally recognised human and labour rights. CPH encourages suppliers to participate in the UN Global Compact, and to annually communicate their progress to stakeholders in general and to CPH in particular.CPH has implemented a Supplier Code of Conduct, engages with contractors on safety (see S2-2) and has established a whistleblower mechanism through which stakeholders can raise concerns (S2-3).The objectives set out in our applicable policies directly inform the targets disclosed under S2-5, as the targets are defined to operationalise our commit-ments to safe working conditions, responsible contractor oversight and respect for labour rights.Supplier Code of ConductCPH’s Supplier Code of Conduct (the "Supplier Code") sets out ethical standards expected of suppliers. The Supplier Code is aligned with the principles of the UN Global Compact and the ILO’s Fundamental Principles, and includes provisions relating to the environment, health and safety for workers, human rights, and bribery and corrup-tion. The Supplier Code explicitly prohibits any form of forced labour and states that suppliers must also not engage in, or benefit from, the use of child labour.CPH expects our principles to apply to a suppli-er’s parent entities, subsidiary or affiliate entities, and their employees, subcontractors and other third parties. The Supplier Code therefore seeks to cover all value chain workers. Every supplier on a standard contract is provided with a link to the Supplier Code, which is available on CPH’s website.Consideration was given to the interests of key internal stakeholders when developing the Supplier Code, including input from CPH’s Procurement and Legal departments and taking into account a human rights perspective. The CFO is the most senior person responsible for the implementation of the Supplier Code.During the year, there were no recorded cases of non-respect of the UN Guiding Principles on Business and Human Rights, the ILO Fundamental Principles and Rights at Work or the OECD Guide-lines for Multinational Enterprises involving value chain workers reported in Copenhagen Airports’ upstream or downstream value chain. S2-2  Processes for engaging with value chain workers about impactsCPH supports a comprehensive approach to worker safety in compliance with Danish regu-lations by providing safety instructions for all workers on site and implementing initiatives to support workers with diverse characteristics. We ensure effective health and safety coor-dination for value chain workers through regular engagement with contractors and their employees. The People Health and Safety (PHS) department manages this process, with the Senior Director of our Projects department holding ulti-mate accountability.Construction workersCPH conducts safety meetings every 14 days for major projects, meeting Danish legal require-ments. These meetings include representatives from all involved companies, including CPH's working environment coordinator and contractor project managers. An employee health and safety representative from each company attends to provide worker perspectives.The meetings facilitate project progress discus-sions and address safety concerns. CPH’s project director is responsible for ensuring these meetings occur. CPH evaluates the effectiveness of this engagement by monitoring safety data, which is reported to the Corporate Leadership Team.Other value chain workersThe PHS department coordinates monthly meet-ings with value chain operators in areas such as baggage handling and flight-related activities. These meetings include employee health and safety representatives from the majority of third parties to ensure alignment on safety procedures. S2-3  Processes to remediate negative impacts and channels for value chain workers to raise concernsShould a value chain worker wish to raise a concern regarding their own health and safety, they must do so through their employer’s reporting routes and by informing their own health and safety representatives. In the event of a safety incident at a CPH site, CPH would support the contracted party in performing its own internal investigations and root cause analyses.The PHS department is responsible for following up on and monitoring any concerns raised, as well as ensuring the effectiveness of the remediation.Value chain workers may also choose to submit a report via CPH's third-party Whistleblower Platform for any incidents relating to health and safety allegations. S2-4  Taking action on material impacts on workers in the value chain, and approaches to managing risks and pursuing opportunities related to value chain workers, and effectiveness of those actionsTo facilitate a common approach to health and safety across our operations, the PHS department has implemented several actions and initiatives involving contractors' employees. Actions are identified through contractor engagement (see S2-2) and are resourced through the department’s operating budget. The actions described reflect measures that are planned and executed within CPH’s existing operational planning cycles and are therefore not structured around distinct multi-year time horizons. Instead, they are integrated into ongoing processes that are reviewed and adjusted on a continuous basis.The Supplier Code (see S2-1) ensures CPH’s procurement practices do not inadvertently contribute to negative impacts on value chain workers. No actions required significant OPEX/CAPEX expenditure during the year.The following sections outline the ongoing actions and controls that we consider essential for maintaining compliance with applicable regula-tion.Safety procedures at construction sitesAll construction workers must participate in a mandatory safety induction before entering sites. The induction provides workers with training and course material relating to workplace safety and supports a shared understanding of the specific safety risks at these sites. When necessary, CPH hires additional resources to support and oversee safety at construction sites, which was also the case in 2025. We have initiated a more strategic and systematic approach to our collaboration with turnkey construction contractors. CPH holds quarterly meetings with contractors, beyond our statutory duties as a client, to proactively predict risks and implement preventive measures to avoid incidents. CPH ensures the effectiveness of our actions to miti-gate health and safety risks and prevent impacts on both CPH employees and contractor construc-tion workers by monitoring key safety data from our construction sites. This is described in more detail in S1-14 Health and safety on page 91.Facilitating safety discussions among smaller contractorsActions taken during the yearDuring the year, CPH held a series of targeted health and safety workshops attended by both our own employees and the employees of our airline handling companies. This action is described in detail in S1-4 Health and safety (see page 91).CPH did not take specific action during the year to remedy impacts on value chain workers because responsibility for their working conditions lies with their employers. CPH therefore cannot assess the effectiveness of such actions.During the year, no cases of severe human rights issues and incidents were reported involving workers in CPH's upstream and downstream value chain.Metrics &amp; targets S2-5 Targets related to managing material negative impacts, advancing positive impacts, and managing material risks and opportunitiesRate of recordable work-related accidents among contractorsTo align with industry benchmarks, in 2025 we adjusted our relative annual LTIF target for contractors at CPH, aiming to record no more than 17 occupational injuries per one million working hours with more than 1 days of absence. Performance against health and safety targets is monitored by the PHS department and overseen by the Corporate Leadership Team's Performance Board.The target applies to all construction contrac-tors working at CPH sites subject to regulatory working environment coordination. Stakeholders, including value chain workers, were not involved in target setting, and value chain workers are not engaged directly in monitoring performance against these targets. However, representatives of the value chain are indirectly involved in identi-fying lessons for improvement through the quar-terly construction health and safety meetings and the annual ERFA meetings.In 2025, CPH achieved an LTIF (with more than 1 days of absence) of 13.9, which is well within our target.Entity-specific metrics 2025   2024  1Number of recordable work-related accidents (contractors) 17 29  Less than 1 day absence 10 19  More than 1 day absence 7 102Occupational injuries per one million working hours (contractors) (LTIF) 33.8 60.4  Less than 1 day absence 19.9 39.6  More than 1 day absence 13.9 20.81 Adjusted from 10 due to completeness error.2 Adjusted from 21.0 due to completeness error.§ Accounting policiesAll metricsAll metrics cover the reporting period 1 January 2025 – 31 December 2025S2-5 - Work-related accidents among contractorsCPH collects data on work-related accidents involving contractors and value-chain workers operating at Copen-hagen Airport. In the event of an accident, the responsible contractor is required to notify CPH. Upon receiving such notification, an email is sent to PHS, after which the Head of PHS records the accident in the internal tracking file used for monitoring work-related injuries and fatalities. CPH subsequently reports all notifiable contractor accidents to the Danish Working Environment Authority (WEA) in accordance with standard proce-dures. For workers employed by contractors, the accuracy of reporting relies on the contractors’ own internal processes and their ability to inform CPH if one of their employees is involved in a work-related accident at Copenhagen Airport. CPH recognises that a small number of individual or smaller contractors may fail to report accidents. However, all major construction projects operate under structured governance and contractual requirements that ensure timely reporting of any work-related accident to CPH. CPH reports separately on acci-dents with less than one day of absence and one or more days of absence. This is to show the difference versus the WEA report, where it is only required to report on accidents with one or more days of absence.S2-5 - Rate of recordable work-related accidents among contractorsThe rate of lost hours due to recordable lost-time injury frequency (LTIF) represents all incidents reported per million working hours. LTIF =   Number of cases with absence x 1,000,000                      Total hours workedCalculations include value chain workers working on construction at CPH’s sites. CPH stores data on work-re-lated accidents in an internal system used for reporting and monitoring. Moreover, CPH is obligated to report all work-related injuries, including fatalities, to the Danish Working Environment Authority (WEA), which may inspect companies based on the reports received. CPH reports separately on accidents less than one day of absence and one or more days of absence. This is to show the difference versus the WEA report, where it is only required to report on accidents with one or more days of absence.Indisputably, CPH's operations have an impact on our immediate surroundings, and we have a responsibility to address the impacts. Our overall goal is to maintain and strengthen the good relationships we have with our neighbours.S Affected communities Material impacts, risks and opportunitiesS3  Affected communitiesCommunities' economic, social and cultural rightsContamination of groundwater from historic discharge of PFAS (perfluorinated alkyl acid Wherecompounds)UpstreamCPH’s historic use of PFAS in foam used in fire drills has contaminated the soil in the areas where the drills were held. Voluntary efforts to contain this pollution have shaped CPH’s environmental initia-Timetives. The environmental impacts and corresponding efforts to address PFAS are described in E2.Short termThis actual negative impact is considered an individual incident, which occurred in our own oper-Medium termations and affects communities around our airports, and therefore considered systemic. We have Long termimplemented a PFAS action plan in collaboration with Tårnby and Dragør Municipalities to prevent the spread of the contamination. We have also established a treatment plant for contaminated surface IROwater at Roskilde.Actual negative  impactEntity-specificImpacts on local communities due to airport operations WhereWe recognise that air transportation causes impacts for the local communities around the airports Upstream(neighbours). Subsequently, we are aware of our responsibility to adequately manage negative impacts and do our part to minimise our negative presence to maintain a good relationship with the Timecommunities that live and work around our airports.Short termWe work closely with local stakeholders, including municipalities, to ensure expectations and miti-Medium termgating actions are aligned. This actual negative impact and its associated risk, which are located Long termdownstream in our value chain, could materialise in the long term and are considered systemic. IROActual negative  impactWe acknowledge that our operations have particular impacts related to pollution that may affect residents living in the vicinity of our airports in Copenhagen and Roskilde. In E2 Pollution, we outline the pollution-related impacts of our operations and the technical measures implemented to manage them. This scientific approach provides a robust foundation for mitigating environmental risks; however, pollution can also affect people in ways that are not fully reflected in data-driven assessments. These human and community impacts often carry nuances that require direct engagement to under-stand. For this reason, we complement our scien-tific monitoring with ongoing dialogue to ensure that concerns raised by affected communities are recognised and appropriately addressed. We are committed to being a proactive partner to the local communities around us and to engaging openly on the issues that affect them.Impact, risk and opportunity management S3-1  Policies related to affected communitiesPolicies related to PFASThe Danish Environmental Protection Agency has issued guidelines governing PFAS levels. CPH has adopted mitigating measures and continues to ensure compliance with Danish legal requirements and the requirements stipulated by Tårnby Munic-ipality. These measures are described in greater detail in E2 Pollution on pages 62-70.The policy is overseen by our Chief Sustainability Officer and is accessible to all CPH employees.Policies related to impacts due to airport operationsCPH’s environmental permits define the regula-tory requirements for managing pollution from our airport operations. Our work in this area is therefore grounded in technical assessments and compliance with these standards. We have not adopted additional policies beyond these regula-tory frameworks, and our approach to air pollu-tion and related environmental topics is described in E2-1 on page 64.We also recognise that community impacts extend beyond what technical or scientific assessments capture. While we do not currently have a dedi-cated policy addressing the social dimension of these impacts, this aspect is managed through an ongoing and adaptive process. We continuously review concerns raised by neighbours, incorporate new insights from community engagement, and adjust our approach as issues evolve. As a member of the UN Global Compact, CPH is committed to respecting human rights, as set out in our Code of Conduct and described further in S1-1. These commitments guide how we engage with affected communities and respond to the nuances of their experiences. S3-2  Processes for engaging with affected communities about impacts As part of this commitment, CPH stays in regular contact with communities in Roskilde and Copenhagen through several engagement channels. One of the core platforms for this dialogue is the Local Dialogue Forum, which meets three times a year and includes local ambassadors, spokespersons and representatives. The Forum focuses on the issues its members consider most important: Members bring to the discussions questions and concerns from the part of the local community they represent. Minutes and presentations from the meetings are publicly available on CPH’s website together with written answers to questions raised by the members.  CPH also engages directly through social media, welcomes local school classes for educational events and tours, and attends local homeowner association meetings when invited.The Chief Sustainability Officer and the Public Affairs department have joint operational responsibility for all engagements with communities.CPH tracks and monitors the effectiveness of our engagement by regularly reviewing recorded issues to improve engagement and through a local population survey, which we aim to conduct annually; the next survey will be conducted in 2026. The survey is sent out to local residents to gauge insights on community concerns and opinions. As part of our engagement approach, we recognise that different groups within the community may experience our operations in different ways. However, we have not identified materially distinct impact profiles across specific vulnerable groups that would require differentiated engagement processes. Our current engagement model therefore applies uniformly to all community members. We continuously review insights from these engagements to assess whether tailored approaches for particular groups may become necessary over time. S3-3  Processes to remediate negative impacts and channels for affected communities to raise concernsThere are several channels for addressing and remediating negative impacts on our neighbours. We facilitate multiple channels for affected communities to raise concerns directly, including via a designated neighbour email, participation in discussions in the Facebook group “Dear Neigh-bour of Copenhagen Airport” and requested meetings with CPH. We welcome requests to meet and discuss local challenges to the extent that our capacity allows, and regularly host tours and presentations for local stakeholder groups.Affected individuals may also raise concerns directly with the Danish environmental authorities. The Environmental Management and Compliance department – which spearheads CPH’s pollution monitoring and mitigation initiatives – engages in ongoing dialogue with the authorities to address input received through these channels.During the year, there were no reported cases of human rights violations involving affected communities.CPH ensures communities’ awareness of complaint channels by advertising these on our website and by providing relevant contact information in all our external communications, including social media posts, external emails and local advertisements for participation in the Forum, and at engagement meetings. Neigh-bours’ trust in CPH to address their concerns is assessed through dedicated questions in the population survey referred to in S3-2.We aim to engage constructively with communi-ties about impacts and prevalent concerns, and any retaliation or similar behaviour would be in violation of our Employee Code of Conduct. S3-4  Taking action on material impacts on affected communities, and approaches to managing material risks and pursuing material opportunities related to affected communities, and effectiveness of those actionsBuilding on our engagement processes, CPH takes action to address the impacts experienced by affected communities through a combination of technical measures and community dialogue. The Sustainability department coordinates this work, identifying actions in line with regulatory requirements and insights gathered from internal and external stakeholders. These initiatives are financed through the Sustainability department’s operating budget, while larger measures are progressed through our CAPEX process.Addressing impacts on communitiesOur pollution-related action plans are described in E2-2 on page 64. In addition to these technical efforts, we maintain ongoing monitoring and implement targeted initiatives to manage pollution-related impacts and reduce the risk of environmental non-compliance.For impacts that are more people-centred in nature, those that relate to how our operations are felt in daily life, we rely on continuous dialogue to understand and address community experiences. These issues are discussed openly in the Local Dialogue Forum, at neighbour meetings and in direct engagement with local municipalities, where we collaborate to identify appropriate responses. Feedback received through our complaint channels also plays an important role in shaping our actions, ensuring that individual concerns feed into our ongoing improvement efforts.Together with the Danish Environmental Protection Agency, we have established procedures for handling complaints from affected communities. We also share relevant data and specialist knowledge in meetings with community members to support a shared understanding of impacts and potential solutions.Targets related to managing material negative impacts, advancing positive impacts, and managing material risks and opportunitiesAt present, CPH has not established communi-ty-specific targets beyond those set for pollu-tion management, as described in E2 Pollution on page 66, and we are continuing to review whether additional indicators are appropriate as our understanding of community impacts evolves.The safety and security of our passengers, employees and partners is our highest priority and a cornerstone of our operations. We are committed to maintaining a secure environment through strict regulatory compliance, continuous risk assessments and close collaboration with the authorities. This section focuses on the health and safety of our end-users – namely, our passengers.S Consumers and end-usersMaterial impacts, risks and opportunitiesS4  Consumers and end-usersPersonal safety of consumers and/or end-usersPassengers are exposed to health, safety and security risks while using the airportsWhereAirports are busy and complex environments, which can expose passengers to risks such as accidents, Upstreaminjuries or security threats. Protecting the health and safety of every passenger is essential to ensure a Own operationssafe and comfortable journey.DownstreamWe address these risks through an in-house Security team, robust safety procedures and continuous improvements in training and technology. Our goal is to create an environment where passengers feel Timesafe and cared for throughout their travel experience. Short termThis negative potential impact is considered systemic and is located throughout our value chain.Medium termLong termIROPotentiel negative  impactCompromised safety and security standards or inability to prevent incidents can reduce WhereCPH’s ability to maintain its operationsOwn operationsSafe and secure operations are CPH’s highest priority, and compliance with national and international standards is a fundamental principle. If incidents cannot be prevented or standards are not upheld, the Timeconsequences can include operational disruptions and major financial losses. Short termTo mitigate these risks, we deploy comprehensive safety and security initiatives across the airports. Medium termThis includes strict adherence to international aviation standards, emergency preparedness plans and continuous staff training. We also collaborate with authorities and industry partners to strengthen IROresilience and ensure a safe environment for passengers and operations. Financial riskImpact, risk and opportunity management S4-1  Policies related to consumers and end-usersCPH has a formalised overarching policy relating to the safety and security of passengers. In addi-tion, we have daily meetings with both employees and partners to ensure a safe and secure opera-tion. The policy is overseen by our Security Services &amp; Crisis Response department and approved by our Vice President, SEC. The policy is accessible to all CPH employees.As a highly regulated operation, CPH must comply with EU and Danish regulations on the conduct of security at an airport. CPH has established proce-dures ensuring we fulfil our obligations and take a holistic approach to addressing risks to staff and passengers. CPH has an in-house Security depart-ment, allowing us to respond quickly to customer feedback when refining our safety and security policies and procedures.As a member of the UN Global Compact, we are committed to upholding fundamental human rights both within our operations and across our value chain. As critical infrastructure and as an airport, human rights are embedded in the international and national legislation we adhere to with regard to ensuring safe and secure oper-ations. CPH has not received any reports relating to breaches of the UN Guiding Principles on Busi-ness and Human Rights, the ILO's Declaration on Fundamental Principles and Rights at Work or the OECD Guidelines for Multinational Enterprises involving passengers downstream in CPH’s value chain. S4-2  Processes for engaging with consumers and end-users about impactsCPH closely monitors complaints data received directly from customers, airlines and handlingcompanies to identify actions and adjust practices. Insights from complaints are distributed to the relevant CPH departments, which identify and implement appropriate actions. All gender-related complaints are escalated immediately to director level, given the sensitivity of the topic and the potential vulnerability of passengers involved.  S4-3  Processes to remediate negative impacts and channels for consumers and end-users to raise concernsPassengers who wish to raise concerns directly with CPH are encouraged to do so by submitting a complaint form in person or via CPH’s website. Passengers who wish to submit a complaint concerning their experience at the Central Secu-rity Checkpoint can inform a member of Secu-rity, who will provide a contact card to support the complaint. A Duty Manager may engage in dialogue with the passenger if the passenger so wishes or if the situation requires it. Customer Service tracks and monitors all complaints, and senior management from CPH’s Security, Customer Service and Passenger Journey Experience departments meet regularly (monthly and quarterly) to discuss trends and develop-ments.Passengers receive an initial response to complaints within 24 hours. Most complaints are resolved through Customer Service and may involve remediation appropriate to the nature of the complaint. For a small number of unresolved, sensitive complaints, CPH may invite passengers to a telephone or face-to-face meeting to better understand the nature of their complaint and resolve it interpersonally. Our customer complaints procedure includes protection against retaliation.CPH ensures complaint procedures are effective by monitoring the number of complaints received, and through qualitative feedback from a quarterly customer satisfaction survey. CPH does not assess whether passengers are aware of and trust these mechanisms for raising complaints.For allegations relating specifically to business conduct, all stakeholders can also raise concerns via the whistleblower mechanism, which is described in G1 Business conduct on page 107. S4-4  Taking action on material impacts on consumers and end-users, and approaches to managing material risks and pursuing material opportunities related to consumers and end-users, and effectiveness of those actionsCPH carries out safety and security actions in line with Danish, EU and international aviation regu-lations. These actions are therefore shaped by sector-specific requirements rather than the ESRS approach to consumer and end-user impacts. In the interest of transparency, we briefly outline the main actions we take within this regulatory framework, even though they are not structured according to ESRS. Information on resource alloca-tion is found in ESRS2 SBM-3 on page 47. CPH implements extensive security training and procedures to ensure passengers are safe, in accordance with our regulatory obligations and CPH’s desired level of service. Actions to improve security procedures and mitigate safety-related impacts on passengers are identified by CPH’s Security department, based among other things on complaints and concerns raised by customers, airlines and handling compa-nies. The department works closely with the Customer Service and Passenger Journey Expe-rience teams to integrate any actions and proce-dural improvements into regular staff training. No actions required significant OPEX/CAPEX expendi-ture during the year.Ensuring airport safetyActions taken in the yearSecurity training for all workers: All indi-viduals working at CPH (all ID-badge holders) must participate in a security awareness course (e-learning), which must be repeated every third year. This contributes to a safe and secure airport by ensuring all staff understand and remain vigi-lant to security risks. To ensure airport practices do not contribute to negative impacts on disabled passengers, all staff must take a disability aware-ness course every two years.Enhanced training for Security employees: Security staff must undertake additional training in accordance with EU and Danish regulations. This formal training is also integrated into CPH’s security operations; dedicated security instructors conduct a variety of training activities during daily business to ensure staff have sufficient compe-tences to identify, prevent and address security risks. Assessments of the needed level of compe-tences are accessed by Duty Managers.Targeted security campaigns: The Security department runs targeted campaigns in accord-ance with EU legislation to raise awareness of different areas run by the department. These are targeted towards employees and partners at the airport and take place when required.Emergency response procedures: Security Services &amp; Crisis Response is responsible for the strategic direction and management of CPH's Corporate Crisis Management and Emergency Response plans. This involves planning and prepa-ration for potential emergencies and disruptive events, as well as response and recovery efforts in the event of an incident. The goal of crisis management is to minimise the impact of a crisis on the airport and our stake-104holders, including passengers and employees, and the surrounding community. E-learning is avail-able to all CPH ID-badge holders to train them in common emergency procedures, e.g. evacuation procedures.Effective crisis management requires collaboration and coordination among various departments and agencies, including security, emergency services, law enforcement and public health at the appropriate and corresponding level of the organ-isation, according to the severity of the incident. It also involves regular training and exercises to ensure that everyone is prepared and able to respond quickly and effectively in the event of a crisis, as well as post-incident evaluation to anchor lessons learned.Patrolling security units: Security patrolling ensures the safety and security of passengers, staff and infrastructure at the airport. This involves monitoring for any suspicious activity or potential threat. Having security personnel visibly patrolling the airport acts as a deterrent against unlawful activities, such as theft, vandalism and terrorist acts. Security patrols enable a quick response to any incidents or emergencies that may arise. Security personnel often serve as a point of contact for passengers who may have questions or require assistance, contributing to a positive customer experience.Performance tracking and ensuring effectivenessCPH ensures the effectiveness of these actions, including specific actions taken in response to customer complaints, by carrying out a quarterly customer satisfaction survey reviewing complaints data and by tracking security waiting times for passengers as required by Danish legislation. All security processes are also subject to periodic audit to ensure they function according to regula-tions. Assessments of the needed level of compe-tences are accessed by Duty Managers.Metrics &amp; targets S4-5  Targets related to managing material negative impacts, advancing positive impacts, and managing material risks and opportunitiesAs critical national infrastructure, CPH is required to comply with Danish, EU and international avia-tion safety and security regulations. The metrics and targets we use in this area are therefore defined by these regulatory and sector-specific standards rather than by the ESRS framework. In line with the ESRS, we note that our existing targets are not designed to measure impacts on consumers and end-users as set out in the standard. Nevertheless, recognising the impor-tance of transparency, we disclose these targets in this report to provide stakeholders with insight into our performance. Through a structured quality management programme, CPH ensures compliance with the full spectrum of security tasks:  · Passenger screening efficiency: Passengers screened within EU regulatory time limits.  · Security personnel certification: Staff in security-critical roles certified under Danish and EU standards. · Cargo security compliance: Consignments processed under EU-approved security protocols.  · Background checks: Employees in sensitive roles undergo full clearance checks, with zero non-compliance cases reported.For 2026, we have established the following targets: · Advanced screening technology: Deploy C3-standard CT scanners across all checkpoints by May 2026, enabling liquids and electronics to remain in carry-on bags. · Training and competence development: Achieve compliance with enhanced EU training requirements by January 2026.These measures and targets support our strategic pillar “Safe &amp; Secure” by ensuring proactive risk management and continuous improvement in safeguarding passengers, employees and the surrounding community. As per relevant legislation, CPH is subject to regular audits of airport operations by the Danish Civil Aviation Authority. CPH maintains docu-mented procedures and evidence of compliance in line with national aviation security programmes.It is CPH’s position that efficiency, safety and security go hand in hand with a good passenger experience. Subsequently, we also monitor the effectiveness of our efforts through a quarterly passenger experience survey. GovernanceWe are committed to sustainable growth, firmly anchored in the principles of honesty, accountability and transparency. Both as an organisation and as individuals, we are dedicated to acting with integrity and ensuring full compliance with applicable legislation and internal policies in order to conduct our business ethically. G – Business conductA strong compliance culture begins with clear values and shared responsibility, and we have identified corruption and bribery as a material potential impact. Material impacts, risks and opportunitiesG1 Business conductCorruption and briberyIf we fail to prevent corruption and bribery, there is an inherent potential negative impact on people Whereand the environment. As a large company with a broad value chain, CPH faces an inherent risk of Upstreamunethical behaviour, corruption and bribery leading to reputational damage and a negative impact on Own operationsgovernance and corporate culture. As a highly regulated public company providing vital infrastructure Downstreamservices, it is paramount that we maintain a good reputation and good relationships with key stake-holders through anti-bribery training and prevention.TimeThe potential negative impact can materialise in the short term and across our value chain. Short termIROPotential negativeimpact Impact, risk and opportunity management G1-1  Business conduct policies and corporate cultureCPH’s DNA is defined by an ambition to always strive for a better tomorrow by being an airport for the future. We aim to prioritise sustainable transition while ensuring that everything we do is rooted in integrity and the strong set of values on which CPH was founded 100 years ago — a set of values shared by our employees and business partners alike.As an organisation, we are therefore committed to acting with integrity and ensuring that all our activities are conducted in full compliance with applicable legislation and internal policies. Ethical business conduct is a shared responsibility for all employees, regardless of role or seniority, and is firmly embedded in our corporate culture as well as our Employee Code of Conduct, approved by the Executive Management.Employee Code of ConductThe Employee Code of Conduct provides the foundation for our compliance culture and acts as our compass for good business conduct. It imparts our standards and principles, reflecting our expectations and commitments within areas such as anti-bribery, anti-money laundering, anti-fraud, fair competition, protection of personal data and respect for human rights.Whistleblower mechanismCPH has an established whistleblower mecha-nism that is accessible to our employees, business partners and other stakeholders. We consider it essential that everyone feels safe and empowered to speak up knowing that their concerns will be taken seriously and addressed responsibly. Conse-quently, we do not tolerate retaliation of any kind against whistleblowers, including discrimination, dismissal, disciplinary action and harassment. All reports are investigated independently and objec-tively by our Legal department, with the option for anonymous reporting. Reports are encrypted and hosted by an independent third party to ensure confidentiality. The whistleblower website provides comprehensive information on reporting procedures, including guidance for reporting concerns about senior executives such as the CEO, CFO or General Counsel. As a part of the onboarding process, employees are introduced to the whistleblower procedures, which they are required to read and acknowledge. Remedial actions depend on the nature of the case. Whistleblowers receive feedback on their report's conclusion within three months, including information about actions taken.  G1-3  Prevention and detection of corruption and bribery CPH has very limited direct business outside Denmark. We consider the risks related to corrup-tion and human rights issues as limited and have not identified any internal functions within CPH as more at risk than others, therefore all functions are considered inherently at risk. CPH maintains a strict zero-tolerance policy on corruption and bribery, including facilitation payments, in accord-ance with national and international standards such as the UN Global Compact and OECD Guide-lines. All employees are required to act ethically and avoid any conduct that could be perceived as corrupt. In cases of uncertainty, employees must consult their manager, who may involve the Legal department. As part of their training, all new hires are required to read and acknowl-edge our Employee Code of Conduct in our learning management system, CPH Quality, and 97% of current employees have completed the training. While no hightened-risk functions have been identified, CPH maintains a zero-tolerance policy towards all forms of human rights viola-tions, corruption or bribery, including facilitation payments, and expects every employee to adhere strictly to the Employee Code of Conduct.To safeguard decision-making integrity, CPH prohibits the acceptance of gifts, travel or hospi-tality from external parties, except for items of minimal value on special occasions, subject to prior approval. Internal procedures include over-sight of company expenses, which always require managerial approval.Suspected violations are investigated by the Corporate Affairs &amp; Legal department through internal reporting channels or the whistleblower mechanism. Confirmed breaches result in correc-tive actions and are reported to relevant manage-ment and handled independently from the chain of management involved in the matter. CPH does not tolerate financial crimes such as fraud, theft, embezzlement, money laundering or misuse of company resources. Employees are encouraged to report concerns through the whistleblower mech-anism or directly to Corporate Affairs &amp; Legal.Metrics G1-4  Incidents of corruption or briberyCorruption and bribery incidents 2025 Number of convictions for violation of anti-corruption and anti-bribery laws  0Fines for violation of anti-corruption and anti-bribery laws (DKK) 0CPH was not convicted for violation of anti-cor-ruption or anti-bribery laws during 2025, and therefore no fines were paid. Furthermore, no legal proceedings relating to these topics were brought against CPH, and no actual impacts or incidents were identified. § Accounting policiesG1-3 Prevention and detection of corruption and bribery  (§ 21)Percentage of employees trained is calculated as the number of employees who have completed the Code of Conduct training divided by the total number of employees.  G1-4 Incidents of corruption and bribery  (§ 24a)Numbers of convictions for violation of anti-cor-ruption or anti-bribery laws refers to the number of convictions and related fines by a court of law determined during the financial year. Appendices to the sustainability statement ESRS 2 GOV-4   Statement on due diligenceThe following table provides a mapping of how CPH applies the core elements of due diligence for people and the environment and where they are presented in the sustainability statement:Core elements of  Pages in the  Does the disclosure relate to people due diligencesustainability statementand/or environment?a) ESRS 2 GOV-2, page 41 People and environmentEmbedding due diligence ESRS 2 GOV-3, page 42 People and environmentin governance, strategy ESRS 2 SBM-3, page 47 People and environmentand business modelESRS 2 SBM-3-E1, page 47EnvironmentESRS 2 SBM-3-E2, page 47ESRS 2 SBM-3-E4, page 47ESRS 2 SBM-3-E5, page 47ESRS 2 SBM-3-S1, page 47ESRS 2 SBM-3-S2, page 47ESRS 2 SBM-3-S3, page 47ESRS 2 SBM-3-S4, page 47ESRS 2 SBM-3-G1, page 47 People and environmentb) ESRS 2 GOV-2, page 41 People and environmentEngaging with affected ESRS 2 SBM-2, page 43 People and environmentstakeholders in all key ESRS 2 IRO-1, page 45 People and environmentsteps of the due diligenceE1-2, page 53EnvironmentE2-1, page 64E4-2, page 72E5-1, page 75S1-1, page 87PeopleS2-1, page 96S3-1, page 100S4-1, page 103G1-1, page 107 People and environmentS1-2, page 87PeopleS2-2, page 97S3-2, page 101 S4-2, page 103Core elements of  Pages in the  Does the disclosure relate to people due diligencesustainability statementand/or environment?c) ESRS 2 IRO-1, page 45 People and environmentIdentifying and assessing ESRS 2 SBM-3, page 47 People and environmentadverse impacts ESRS 2 SBM-3-E1, page 47EnvironmentESRS 2 SBM-3-E2, page 47ESRS 2 SBM-3-E4, page 47ESRS 2 SBM-3-E5, page 47ESRS 2 SBM-3-S1, page 47PeopleESRS 2 SBM-3-S2, page 47ESRS 2 SBM-3-S3, page 47ESRS 2 SBM-3-S4, page 47ESRS 2 SBM-3-G1, page 47 People and environmentd) E1-3, page 53EnvironmentTaking actions to address E2-2, page 64those adverse impactsE4-3, page 72E5-2, page 75S1-4, page 88PeopleS2-4, page 97S3-4, page 102S4-4, page 104E1-1, page 51EnvironmentE4-1, page 72G1-1, page 107 People and environmentCore elements of  Pages in the  Does the disclosure relate to people due diligencesustainability statementand/or environment?e) E1-5, page 56EnvironmentTracking effectiveness E1-6, page 57of these efforts and E4-5, page 73communicatingE5-5, page  76S1-6, page 93PeopleS1-9, page 93S1-14, page 91S1-16, page 93 G1-4, page 108E1-4, page 55EnvironmentE2-4, page 66E4-4, page 73S1-5, page 90PeopleS2-5, page 98S3-4, page 102S4-5, page 105  IRO-2    ESRS disclosure requirements covered by CPH's sustainability statements List of material DRs PageESRS 2 General disclosuresBP-1 General basis for preparation of the sustainability statement 39BP-2 Disclosures in relation to specific circumstances 40GOV-1 The role of the administrative, management and supervisory bodies 34, 41GOV-2 Information provided to and sustainability matters addressed by the undertaking’s administrative, management and supervisory bodies 41GOV-3 Integration of sustainability-related performance in incentive schemes 42GOV-4 Statement on due diligence 42, 110GOV-5 Risk management and internal controls over sustainability reporting 42SBM-1 Strategy, business model and value chain 14, 43SBM-2 Interests and views of stakeholders 43SBM-3 Material impacts, risks and opportunities and their interaction with strategy and business model 47RO-1 Description of the processes to identify and assess material impacts, risks and opportunities 45IRO-2 Disclosure requirements in ESRS covered by the undertaking’s sustainability statement 47, 112E1 Climate changeESRS 2 Integration of sustainability-related performance in incentive schemesGOV-3-E1 42E1-1  Transition plan for climate change mitigation 51ESRS 2 Material impacts, risks and opportunities and their interaction with strategy and business SBM-3-E1model 47ESRS 2 Description of the processes to identify and assess material climate-related impacts, risks and IRO-1-E1opportunities 46E1-2 Policies related to climate change mitigation and adaptation  53E1-3 Actions and resources in relation to climate change policies  53E1- 4 Targets related to climate change mitigation and adaptation 55E1-5 Energy consumption and mix  56List of material DRs PageE1 Climate changeE1- 6 Gross scope 1, 2, 3 and Total GHG emissions  57E1-7 GHG removals and GHG mitigation projects financed through carbon credits  59E2 PollutionESRS 2 Material impacts, risks and opportunities and their interaction with strategy and business SBM-3-E2model 47ESRS 2 Description of the processes to identify and assess material pollution-related impacts, risks IRO-1-E2and opportunities 46E2-1 Policies related to pollution 64E2-2 Actions and resources related to pollution 64E2-3 Targets related to pollution  66E2-4 Pollution of air, water and soil 66E2-6 Anticipated financial effects from material pollution-related impacts, risks and opportunities (phased in requirement) N/AE4 Biodiversity and ecosystemsESRS 2 Material impacts, risks and opportunities and their interaction with strategy and business SBM-3-E4model 47ESRS 2 Description of processes to identify and assess material biodiversity and ecosystem-related IRO-1-E4impacts, risks and opportunities 46E4-1 Transition plan for biodiversity 72E4-2 Policies related to biodiversity and ecosystems 72E4-3 Actions and resources related to biodiversity and ecosystems  72E4-4 Targets related to biodiversity and ecosystems  73E4-5 Impact metrics related to biodiversity and ecosystems change 73  IRO-2    ESRS disclosure requirements covered by CPH's sustainability statementsList of material DRs PageE5 Resource use and circular economy ESRS 2 Material impacts, risks and opportunities and their interaction with strategy and business SBM-3-E5model 47ESRS 2 Description of the processes to identify and assess material resource use and circular IRO-1-E5economy-related impacts, risks and opportunities 46E5-1 Policies related to resource use and circular economy  75E5-2 Actions and resources related to resource use and circular economy 75E5-3 Targets related to resource use and circular economy  76E5-5 Resource outflows  76S1 Own workforceESRS 2 Interests and views of stakeholdersSBM-2-S143ESRS 2 Material impacts, risks and opportunities and their interaction with strategy and business SBM-3-S1model 47S1-1 Policies related to own workforce 87S1-2 Processes for engaging with own workforce and workers' representatives about impacts 87S1-3 Processes to remediate negative impacts and channels for own workforce to raise concerns 88S1- 4 Taking action on material impacts on own workforce, and approaches to mitigating material risks and pursuing material opportunities related to own workforce, and effectiveness of those actions 88S1-5 Targets related to managing material negative impacts, advancing positive impacts, and managing material risks and opportunities 90S1- 6 Characteristics of the undertaking’s employees 93S1-9 Diversity metrics  93S1-14 Health and safety metrics  91S1-16 Remuneration metrics (pay gap and total remuneration) 93S1-17 Incidents, complaints and severe human rights impacts  91List of material DRs PageS2 Workers in the value chain ESRS 2 Material impacts, risks and opportunities and their interaction with strategy and business SBM-3-S2model 47S2-1 Policies related to value chain workers  96S2-2 Processes for engaging with value chain workers about impacts  97S2-3 Processes to remediate negative impacts and channels for value chain workers to raise concerns  97S2-4 Taking action on material impacts on value chain workers, and approaches to managing material risks and pursuing material opportunities related to value chain workers, and effectiveness of those actions  97S2-5 Targets related to managing material negative impacts, advancing positive impacts, and managing material risks and opportunities 98S3 Affected communities ESRS 2 Material impacts, risks and opportunities and their interaction with strategy and business SBM-3-S3model 47S3-1 Policies related to affected communities  100S3-2 Processes for engaging with affected communities about impacts  101S3-3 Processes to remediate negative impacts and channels for affected communities to raise concerns 102S3-4 Taking action on material impacts on affected communities, and approaches to managing material risks and pursuing material opportunities related to affected communities, and effectiveness of those actions 102  IRO-2    ESRS disclosure requirements covered by CPH's sustainability statementsList of material DRs PageS4 Consumers and end-usersESRS 2 Interests and views of stakeholdersSBM-2-S443ESRS 2 Material impacts, risks and opportunities and their interaction with strategy and business SBM-3-S4model 47S4-1 Policies related to consumers and end-users 103S4-2 Processes for engaging with consumers and end-users about impacts 103S4-3 Processes to remediate negative impacts and channels for consumers and end-users to raise concerns 104S4-4 Taking action on material impacts on consumers and end-users, and approaches to managing  material risks and pursuing material opportunities related to consumers and end-users, and effectiveness of those actions 104S4-5 Targets related to managing material negative impacts, advancing positive impacts, and managing material risks and opportunities 105G1 Business conductESRS 2 Material impacts, risks and opportunities and their interaction with strategy and business SBM -3-G1 model 47ESRS 2 The role of the administrative, management and supervisory bodiesGOV-1-G141ESRS 2 Description of the processes to identify and assess material impacts, risks and opportunitiesIRO -1-G146G1-1 Business conduct policies and corporate culture 107G1-3 Prevention and detection of corruption and bribery 108G1-4 Incidents of corruption and bribery 108List of disclosure requirements incorporated by referenceDisclosure requirement General disclosure Incorporation by referenceESRS 2 GOV-1 Roles and responsibilities of   See Corporate governance page 34, subheaders “Board the Board of Directors and  of Directors”, “Chairmanship” and “Executive Manage-the Executive Managementment”.  ESRS 2 SBM-1 Specification of net revenue  See page 137 note 2.2 Revenue for a detailed split of for 2025revenue types and composition.ESRS 2 SBM-1 Strategy and business model For a description of our business model, see page 14 and for a detailed description of our strategy  see page 15. List of datapoints in cross-cutting and topical standards that derive from other EU legislation  ESRS 2 - IRO-2   Disclosure requirements in ESRS covered by CPH’s sustainability statementDisclosure requirement EU Climate Material/  and related datapoint  SFDR reference  Pillar 3 reference  Benchmark Regulation reference Law reference Not material PageESRS 2 GOV-1 Board’s gender diversity Indicator number 13 of Table #1 of Annex 1 Commission Delegated Regulation (EU) Material  41paragraph 21 (d)  2020/1816, Annex II  ESRS GOV-1 Percentage of board Delegated Regulation (EU) 2020/1816,  Material  41members who are independent para-Annex II  graph 21 (e) ESRS 2 GOV-4 Statement on due Indicator number 10 Table #3 of  Material  110diligence paragraph 30  Annex 1ESRS 2 SBM-1 Involvement in activities Indicator number 4 Table #1 of  Article 449a, Regulation (EU) No 575/2013: Delegated Regulation (EU) 2020/1816,  Not materialrelated to fossil fuel activities paragraph Annex 1  Commission Implementing Regulation (EU) Annex II 40 (d) i 2022/2453 Table 1: Qualitative information on Environmental risk and Table 2: Qualitative information on Social risk ESRS 2 SBM-1 Involvement in activities Indicator number 9 Table #2 of Annex 1   Delegated Regulation (EU) 2020/1816,  Not materialrelated to chemical production Annex II paragraph 40 (d) ii  ESRS 2 SBM-1 Involvement in activities Indicator number 14 Table #1 of  Delegated Regulation (EU) 2020/1818, Article Not materialrelated to controversial weapons Annex 1  12(1) Delegated Regulation (EU) 2020/1816, paragraph 40 (d) iii Annex II ESRS 2 SBM-1 Involvement in activities Delegated Regulation (EU) 2020/1818, Article Not materialrelated to cultivation and production of 12(1) Delegated Regulation (EU) 2020/1816, tobacco paragraph 40 (d) iv Annex II ESRS E1-1 Transition plan to reach Regulation (EU) Material  51climate neutrality by 2050 paragraph 14 2021/1119, Article 2(1) List of datapoints in cross-cutting and topical standards that derive from other EU legislation  ESRS 2 - IRO-2   Disclosure requirements in ESRS covered by CPH’s sustainability statementDisclosure requirement EU Climate Material/  and related datapoint  SFDR reference  Pillar 3 reference  Benchmark Regulation reference Law reference Not material PageESRS E1-1 Undertakings excluded from Article 449a, Regulation (EU) No 575/2013; Delegated Regulation (EU) 2020/1818,  Not materialParis-aligned Benchmarks paragraph Commission Implementing Regulation (EU) Article 12.1 (d) to (g), and Article 12.2 16 (g) 2022/2453 Template 1: Banking book - Climate Change transition risk: Credit quality of exposures by sector, emissions and residual maturity ESRS E1-4 GHG emission reduction Indicator number 4 Table #2 of Annex 1  Article 449a, Regulation (EU) No 575/2013; Delegated Regulation (EU) 2020/1818,  Material 55targets paragraph 34 Commission Implementing Regulation (EU) Article 6 2022/2453 Template 3: Banking book – Climate change transition risk: alignment metrics ESRS E1-5 Energy consumption from Indicator number 5 Table #1 and Indicator Material 56fossil sources disaggregated by sources number 5 Table #2 of Annex 1 (only high climate impact sectors) paragraph 38 ESRS E1-5 Energy consumption and Indicator number 5 Table #1 of Annex 1  Material 56mix paragraph 37 ESRS E1-5 Energy intensity associated Indicator number 6 Table #1 of Annex 1  Material 56with activities in high climate impact sectors paragraphs 40 to 43 ESRS E1-6 Gross Scope 1, 2, 3 and Indicator numbers 1 and 2 Table #1 of Annex Article 449a, Regulation (EU) No 575/2013; Delegated Regulation (EU) 2020/1818,  Material 58Total GHG emissions paragraph 44 1 Commission Implementing Regulation (EU) Article 5(1), 6 and 8(1) 2022/2453 Template 1: Banking book – Climate change transition risk: Credit quality of exposures by sector, emissions and residual maturity List of datapoints in cross-cutting and topical standards that derive from other EU legislation  ESRS 2 - IRO-2   Disclosure requirements in ESRS covered by CPH’s sustainability statementDisclosure requirement EU Climate Material/  and related datapoint  SFDR reference  Pillar 3 reference  Benchmark Regulation reference Law reference Not material PageESRS E1-6 Gross GHG emissions Indicator number 3 Table #1 of  Article 449a, Regulation (EU) No 575/2013; Delegated Regulation (EU) 2020/1818,  Material 59intensity paragraphs 53 to 55 Annex 1 Commission Implementing Regulation (EU) Article 8(1) 2022/2453 Template 3: Banking book – Climate change transition risk: alignment metrics ESRS E1-7 GHG removals and carbon Regulation (EU) Material 59credits paragraph 56 2021/1119, Article 2(1) ESRS E1-9 Exposure of the benchmark Delegated Regulation (EU) 2020/1818,  Not materialportfolio to climate-related physical Annex II Delegated Regulation (EU) risks paragraph 66 2020/1816, Annex II ESRS E1-9 Disaggregation of monetary Article 449a, Regulation (EU) No 575/2013; Not materialamounts by acute and chronic physical Commission Implementing Regulation (EU) risk paragraph 66 (a) ESRS E1-9 2022/2453 paragraphs 46 and 47; Template Location of significant assets at material 5: Banking book - Climate change physical physical risk paragraph 66 (c). risk: Exposures subject to physical risk. ESRS E1-9 Breakdown of the carrying Article 449a, Regulation (EU) No 575/2013; Not materialvalue of its real estate assets by energy-Commission Implementing Regulation (EU) efficiency classes paragraph 67 (c). 2022/2453 paragraph 34; Template 2: Banking book - Climate change transition risk: Loans collateralised by immovable property - Energy efficiency of the collateral ESRS E1-9 Degree of exposure of Delegated Regulation (EU) 2020/1818, Not materialthe portfolio to climate-related Annex II opportunities paragraph 69 List of datapoints in cross-cutting and topical standards that derive from other EU legislation  ESRS 2 - IRO-2   Disclosure requirements in ESRS covered by CPH’s sustainability statementDisclosure requirement EU Climate Material/  and related datapoint  SFDR reference  Pillar 3 reference  Benchmark Regulation reference Law reference Not material PageESRS E2-4 Amount of each pollutant Indicator number 8 Table #1 of Annex 1 Indi-Material 66listed in Annex II of the E-PRTR cator number 2 Table #2 of Annex 1 Indicator Regulation (European Pollutant Release number 1 Table #2 of Annex 1 Indicator and Transfer Register) emitted to air, number 3 Table #2 of Annex 1 water and soil paragraph 28 ESRS E3-1 Water and marine resources Indicator number 7 Table #2 of Annex 1  Not materialparagraph 9 ESRS E3-1 Dedicated policy paragraph Indicator number 8 Table 2 of Annex 1  Not material13 ESRS E3-1 Sustainable oceans and seas Indicator number 12 Table #2 of  Not materialparagraph 14 Annex 1 ESRS E3-4 Total water recycled and Indicator number 6.2 Table #2 of  Not materialreused paragraph 28 (c) Annex 1 ESRS E3-4 Total water consumption in Indicator number 6.1 Table #2 of  Not material3m per net revenue on own operations Annex 1 paragraph 29 ESRS 2- SBM-3 - E4 paragraph 16 (a) i  Indicator number 7 Table #1 of Annex 1  Material  47ESRS 2- SBM-3 - E4 paragraph 16 (b)  Indicator number 10 Table #2 of  Material 47Annex 1 ESRS 2- SBM-3 - E4 paragraph 16 (c)  Indicator number 14 Table #2 of  Material 47Annex 1 ESRS E4-2 Sustainable land/Indicator number 11 Table #2 of  Material  72agriculture practices or policies Annex 1 paragraph 24 (b) ESRS E4-2 Sustainable oceans/seas Indicator number 12 Table #2 of  Not materialpractices or policies paragraph 24 (c) Annex 1 ESRS E4-2 Policies to address Indicator number 15 Table #2 of  Not materialdeforestation paragraph 24 (d) Annex 1 List of datapoints in cross-cutting and topical standards that derive from other EU legislation  ESRS 2 - IRO-2   Disclosure requirements in ESRS covered by CPH’s sustainability statement Disclosure requirement EU Climate Material/  and related datapoint  SFDR reference  Pillar 3 reference  Benchmark Regulation reference Law reference Not material PageESRS E5-5 Non-recycled waste Indicator number 13 Table #2 of  Material 77paragraph 37 (d) Annex 1 ESRS E5-5 Hazardous waste and Indicator number 9 Table #1 of  Material 77radioactive waste paragraph 39 Annex 1 ESRS 2- SBM3 - S1 Risk of incidents of Indicator number 13 Table #3 of  Not materialforced labour paragraph 14 (f) Annex I ESRS 2- SBM3 - S1 Risk of incidents of Indicator number 12 Table #3 of  Not materialchild labour paragraph 14 (g) Annex I ESRS S1-1 Human rights policy Indicator number 9 Table #3 and Indicator Material 87commitments paragraph 20 number 11 Table #1 of Annex I ESRS S1-1 Due diligence policies on Delegated Regulation (EU) 2020/1816,  Material 87issues addressed by the fundamental Annex II International Labour Organization Conventions 1 to 8 paragraph 21 ESRS S1-1 Processes and measures for Indicator number 11 Table #3 of Annex I  Material 87preventing trafficking in human beings paragraph 22 ESRS S1-1 Workplace accident Indicator number 1 Table #3 of Annex I  Material 87prevention policy or management system paragraph 23 ESRS S1-3 Grievance/complaints Indicator number 5 Table #3 of Annex I  Material 88handling mechanisms paragraph 32 (c) ESRS S1-14 Number of fatalities and Indicator number 2 Table #3 of Annex I  Delegated Regulation (EU) 2020/1816,  Material 91number and rate of work-related Annex II accidents paragraph 88 (b) and (c) ESRS S1-14 Number of days lost to Indicator number 3 Table #3 of Annex I  Material  91injuries, accidents, fatalities or illness paragraph 88 (e) List of datapoints in cross-cutting and topical standards that derive from other EU legislation  ESRS 2 - IRO-2   Disclosure requirements in ESRS covered by CPH’s sustainability statementDisclosure requirement EU Climate Material/  and related datapoint  SFDR reference  Pillar 3 reference  Benchmark Regulation reference Law reference Not material PageESRS S1-16 Unadjusted gender pay gap Indicator number 12 Table #1 of Annex I  Delegated Regulation (EU) 2020/1816, Material 93paragraph 97 (a) Annex II ESRS S1-16 Excessive CEO pay ratio Indicator number 8 Table #3 of Annex I  Material 93paragraph 97 (b) ESRS S1-17 Incidents of discrimination Indicator number 7 Table #3 of Annex I  Material 91paragraph 103 (a)ESRS S1-17 Non-respect of UNGPs on Indicator number 10 Table #1 and Indicator n. Delegated Regulation (EU) 2020/1816, Material 91Business and Human Rights and OECD 14 Table #3 of Annex I Annex II Delegated Regulation (EU) Guidelines paragraph 104 (a) 2020/1818 Art 12 (1) ESRS 2- SBM-3 – S2 Significant risk Indicator numbers 12 and 13 Table #3 of Not materialof child labour or forced labour in the Annex I value chain paragraph 11 (b) ESRS S2-1 Human rights policy Indicator number 9 Table #3 and Indicator n. Material 96commitments paragraph 17 11 Table #1 of Annex 1 ESRS S2-1 Policies related to value Indicator numbers 11 and 4 Table #3 of Material 96chain workers paragraph 18 Annex 1 ESRS S2-1 Non-respect of UNGPs on Indicator number 10 Table #1 of  Delegated Regulation (EU) 2020/1816, Material 96Business and Human Rights principles Annex 1 Annex II Delegated Regulation (EU) and OECD guidelines paragraph 19 2020/1818, Art 12 (1) ESRS S2-1 Due diligence policies on Delegated Regulation (EU) 2020/1816, Material 96issues addressed by the fundamental Annex II International Labour Organization Conventions 1 to 8, paragraph 19 ESRS S2-4 Human rights issues and Indicator number 14 Table #3 of  Not materialincidents connected to its upstream and Annex 1 downstream value chain paragraph 36 ESRS S3-1 Human rights policy Indicator number 9 Table #3 of Annex 1 and Material 100commitments paragraph 16 Indicator number 11 Table #1 of Annex 1 List of datapoints in cross-cutting and topical standards that derive from other EU legislation  ESRS 2 - IRO-2   Disclosure requirements in ESRS covered by CPH’s sustainability statementDisclosure requirement EU Climate Material/  and related datapoint  SFDR reference  Pillar 3 reference  Benchmark Regulation reference Law reference Not material PageESRS S3-1 Non-respect of UNGPs Indicator number 10 Table #1 Annex 1  Delegated Regulation (EU) 2020/1816, Material 100on Business and Human Rights, Annex II Delegated Regulation (EU) ILO principles and OECD guidelines 2020/1818, Art 12 (1) paragraph 17 ESRS S3-4 Human rights issues and Indicator number 14 Table #3 of Annex 1  Material 102incidents paragraph 36 ESRS S4 -1 Policies related to consumers Indicator number 9 Table #3 and Indicator Material 103and end-users paragraph 16 number 11 Table #1 of Annex 1 ESRS S4 -1 Non-respect of UNGPs on Indicator number 10 Table #1 of Annex 1  Delegated Regulation (EU) 2020/1816, Material 103Business and Human Rights and OECD Annex II Delegated Regulation (EU) guidelines paragraph 17 2020/1818, Art 12 (1) ESRS S4-4 Human rights issues and Indicator number 14 Table #3 of Annex 1  Not materialincidents paragraph 35 ESRS G1-1 United Nations Convention Indicator number 15 Table #3 of Annex 1  Material 107against Corruption paragraph 10 (b) ESRS G1-1 Protection of whistle-Indicator number 6 Table #3 of Annex 1  Material 107blowers paragraph 10 (d) ESRS G1-4 Fines for violation of Indicator number 17 Table #3 of Annex 1  Delegated Regulation (EU) 2020/1816, Material 108anti-corruption and anti-bribery laws Annex II) paragraph 24 (a) ESRS G1-4 Standards of anti-corruption Indicator number 16 Table #3 of Annex 1  Material 108and anti- bribery paragraph 24 (b)</mrv:SustainabilityReport>
   <mrv:DescriptionofTheTaxonomyRegulation contextRef="ctx-1" id="f1__s9__7__25" xml:lang="en">EU Taxonomy ReportThe EU Taxonomy Regulation (EU 2020/852) establishes the EU’s classification system for sustainable economic activities. In July 2025, the Commission adopted Delegated Regulation (EU 2024/2481), introducing simplified Do No Signif-icant Harm (DNSH) requirements, a 10% mate-riality threshold for non-material activities and updated reporting templates. These changes were taken into consideration in our 2025 EU Taxonomy Report. This Sustainability Statement primarily targets investors, lenders, and rating agencies which use the Taxonomy Key Performance Indi-cators (KPIs) in their financial and sustainability analyses. Customers, suppliers, business partners, regulators and other stakeholders interested in CPH's environmental performance are secondary users.Companies must disclose the share of revenue, capital expenditure (CAPEX) and operational expenditure (OPEX) that is both Taxonomy-eli-gible and Taxonomy-aligned. Eligible activities can contribute to one of the six environmental objectives; aligned activities must also meet the 1, DNSHSubstantial Contribution and Minimum 3Safeguards criteria.Changes compared to our 2024 EU Taxonomy ReportIn 2025, CPH updated our EU Taxonomy assess-ment to reflect the amendments introduced by Delegated Regulation (EU) 2024/2481, applying to reporting for the 2025 financial year. In 2024, CPH reported two eligible activities and a limited share of aligned building-related activ-ities. Following the updated 2025 assessment and the identification of a climate change-related financial risk (see E1 Climate change on page 50), Appendix A for climate change adaptation considerations under Acquisitions and ownership of buildings became relevant for the buildings previously reported as aligned. As we are currently not able to demonstrate compliance with these criteria, the activities are not classified as aligned for 2025.During our 2025 assessment, the overall screening scope was expanded to reflect current operational and CAPEX-investment activities, and broadened the scope of Taxonomy-eligible economic activi-ties under CAPEX.CPH continues to disclose the share of revenue, CAPEX and OPEX considered Taxonomy-eligible and Taxonomy-aligned in accordance with appli-cable regulatory requirements.Taxonomy eligibilityAll business activities were screened against the economic activities defined in the EU Taxonomy’s delegated acts, covering all six environmental objectives. Eligibility was assessed where the nature of the activity allowed for a clear and consistent interpretation against the EU Taxonomy criteria.Based on the 2025 screening, the activities listed in the following tables were classified as Taxon-omy-eligible. Activities for which data was not available, or which fell below materiality thresh-olds, were not included.Taxonomy alignmentFor the 2025 reporting year, CPH carried out an assessment of all Taxonomy-eligible revenue, CAPEX and OPEX in accordance with the Substan-tial Contribution, Do No Significant Harm (DNSH) and Minimum Safeguards criteria set out in the EU Taxonomy Regulation and its delegated acts.Based on the available documentation and the current maturity of underlying data foundations, including considerations linked to the climate change-related financial risk identified in 2025, CPH was not able to confirm that any eligible activities fully meet all alignment criteria for this reporting year.CPH will continue to develop internal documenta-tion processes, supplier engagement and climate-risk assessments with the objective of improving the basis for determining potential alignment in future reporting years.1 Articles 10-15 of Regulation (EU) 2020/852, Commission Delegated Regulation (EU) 2021/2139 and Delegated Regulation (EU) 2024/2481.2 Article 17 of Regulation (EU) 2020/852, Delegated Regulation (EU) 2024/2481.3 Article 18 of Regulation (EU) 2020/852, Commission Notice 2023/C 211/01.Accounting policiesRevenue KPI is defined as Taxonomy-eligible revenue divided by total revenue as reported under IFRS. Revenue eligibility was assessed using an end-product approach, in line with the EU Taxonomy guidance. Each material revenue stream was assessed to determine whether it could be linked to one of the economic activities defined in the EU Taxonomy and whether the activity directly or indirectly contributes to the environmental objec-tives under Regulation (EU 2020/852) and Dele-gated Regulation (EU 2024/2481).For 2025, CPH identified limited revenue catego-ries falling within the scope of Taxonomy-eligible activities, primarily related to income generated from CPH-owned buildings and associated infrastructure (concession revenue, parking rent and hotel operations). Revenue generated from CPH’s airport operations—including passenger, security, handling, take-off and aircraft-parking charges—is non-eligible, as airport operation is not a defined activity under the EU Taxonomy. Other services not linked to eligible activities are correspondingly classified as non-eligible.CAPEX KPI is defined as Taxonomy-eligible and/or -aligned CAPEX divided by total CAPEX. Total CAPEX comprises additions to tangible and intangible fixed assets before depreciation, amor-tisation or any remeasurement, including acquisi-tions of property, plant and equipment, intangible assets, leases with usage rights and investment properties.During 2025, CPH reviewed material CAPEX projects to determine whether they fall within the scope of the EU Taxonomy’s eligible economic activities. The assessment reflected the nature of CPH’s ongoing development and infrastructure projects, including selected construction, reno-vation and infrastructure-related activities that correspond to economic activities listed in the EU Taxonomy.Based on this review, CPH identified a broader set of CAPEX activities that meet the criteria for Taxonomy eligibility. However, no projects were classified as aligned, as the documentation required to demonstrate compliance with the DNSH alignment criterion is currently not avail-able.OPEX KPI is defined as Taxonomy-eligible OPEX divided by total OPEX as reported under IFRS. It includes expenditure related to research and development, building renovation, short-term lease arrangements, maintenance, upkeep and repairs, and other direct costs necessary to ensure the continued and effective operation of tangible assets, whether conducted internally or outsourced.During 2025, CPH carried out a qualitative assess-ment of potential OPEX activities in collaboration with relevant operational departments. The review focused on identifying whether any activ-ities within maintenance, optimisation, leasing or other relevant areas could fall within the Taxono-my’s OPEX scope.Based on this assessment, no OPEX activities or expenditure items were identified as material or Taxonomy-eligible. Potentially relevant activities, including activities within the Energy area, were confirmed to represent a negligible share of total OPEX and therefore fall well below the 10% materiality threshold introduced by the amend-ments to the EU Taxonomy Disclosure Delegated Act adopted by the European Commission in July 2025 (the "Omnibus Delegated Act").As a result, no OPEX is reported as Taxonomy-eli-gible or aligned for the 2025 reporting year.OverviewBreakdown by environmental objectives of  Financial year 2025Taxonomy-aligned activitiesKPIRevenue 5,521 32% - - - - - - - - - - - 0 0%CAPEX 2,004 46% - - - - - - - - - - - 1 0%OPEX 807 14% - - - - - - - - - - - 0 0%CAPEX KPIEnvironmental objective of  Financial year 2025Taxonomy-aligned acitivitiesEconomic ActivitiesConstruction of new buildings CEY 3.1 680 0 0% - - - - - - - - -Renovation of existing buildings CEY 3.2 94 0 0% - - - - - - - - -Maintenance of roads and motorways CEY 3.4 68 0 0% - - - - - - - - -Construction, extension and operation of wastewater collection and treatment CCM 5.3 6 0 0% - - - - - - - - -Construction of new buildings CCM 7.1 9 0 0% - - - - - - - - -Renovation of existing buildings CCA 7.2 34 0 0% - - - - - - - - -Installation, maintenance and repair of charging stations for electric vehicles in buildings (and parking spaces attached to buildings) CCA 7.4 16 0 0% - - - - - - - - -Installation, maintenance and repair of charging stations for electric vehicles in buildings (and parking spaces attached to buildings) CCM 7.4 9 0 0% - - - - - - - - -Sum of alignment per objective - - - - - -TOTAL 916 0 0% - - - - - - - - -OPEX KPIEnvironmental objective of  Financial year 2025Taxonomy-aligned acitivitiesEconomic Activities7.2 Renovation of existing buildings CCM 7. 2 115 0 0% - - - - - - - - -Sum of alignment per objective - - - - - -TOTAL 115 0 0% - - - - - - - - -Taxonomy table for nuclear and gas as referred to in the Complementary Climate Delegated ActNuclear energy-related activities1. The undertaking carries out, funds or has exposures to research, develop-Noment, demonstration and deployment of innovative electricity generation facilities that produce energy from nuclear processes with minimal waste from the fuel cycle.2. The undertaking carries out, funds or has exposures to construction and safe Nooperation of new nuclear installations to produce electricity or process heat, including for the purposes of district heating or industrial processes such as hydrogen production, as well as their safety upgrades, using best available technologies.3. The undertaking carries out, funds or has exposures to safe operation Noof existing nuclear installations that produce electricity or process heat, including for the purposes of district heating or industrial processes such as hydrogen production from nuclear energy, as well as their safety upgrades.Fossil gas-related activities4. The undertaking carries out, funds or has exposures to construction or oper-Noation of electricity generation facilities that produce electricity using fossil gaseous fuels.5. The undertaking carries out, funds or has exposures to construction, refur-Nobishment and operation of combined heat/cool and power generation facilities using fossil gaseous fuels.6. The undertaking carries out, funds or has exposures to construction, refur-Nobishment and operation of heat generation facilities that produce heat/cool using fossil gaseous fuels.SocialAs an organisation with a big presence in local communities and as critical Danish infrastructure, our operations are centred around people. In line with our strategic people focus, our materiality assessment affirmed our responsibility by triggering all four social ESRS topical standards.In this section, we will disclose our efforts to address the identified material impacts, including our own workforce, workers in our value chain, affected communities, and end-users.</mrv:DescriptionofTheTaxonomyRegulation>
   <mrv:StatementOfTheDiversityPolicies contextRef="ctx-1" id="f1__s9__7__27" xml:lang="en">Gender diversity targetsCPH is committed to promoting a diverse work-force across all levels of the organisation, and in 2025 we reframed our gender diversity targets:Further description of the methodologies and significant assumptions related to the metrics is provided in the S1 Accounting policies section.  S1-6  Characteristics of own employeesNumber of employees (headcount) 2025   2024Female 1,090 1,019Male 1,964 1,816Total 3,054 2,835Employee turnover 2025   2024  Employee turnover rate (%) 12.1% 11.8%Number of employees who left in the period 363 325Number of FTEs 2025   2024  Number of employees (FTE) 2,898 2,671 Male 1,899 1,750* Female 999 921*Number of permanent employees (FTE) 1,074 946 Male 677 600* Female 397 346*Number of temporary employees (FTE) 14 14 Male 8 9* Female 6 5*Number of non-guaranteed hours employees (FTE) 1,810 1,710 Male 1,214 1,140* Female 596 570**Restated as previously not reported.   S1-9   Diversity metrics2025   2024  Gender diversityWomen in top management (Board) 3 (43%) 1 (16.7%)Women in top management (senior leadership positions) 10 (31.3%) 16 (34.8%)Distribution of employees by age groupUnder 30 years old 10.2% 8.6%30-50 years old 46.2% 44.6%Over 50 years old 43.5% 46.8%  S1 -1 6   Remuneration metrics 2025   2024  1Gender pay gap 10.9% 11. 8%Remuneration ratio of the highest paid individual  17.7 17.421 Adjusted from 9.7% due to completeness error. 2 Adjusted from 20.2 due to completeness error. § Accounting policiesAll metricsAll metrics cover the reporting period 1 January 2025 – 31 December 2025.S1-6 - Total number of employees and gender distribution  (§50a)CPH defines gender based on social security numbers, hence the data exclusively distinguishes between female and male. The categories "Other" and "Not disclosed" are not reported on due to GDPR restrictions on data collection. The reported headcount is calculated at year-end. Calculations include all employees (both full-time and part-time). The data is extracted from our HR register and payroll system. General payroll processes ensure a high level of quality in the data.</mrv:StatementOfTheDiversityPolicies>
   <fsa:AverageNumberOfEmployees contextRef="ctx-1"
                                 decimals="0"
                                 id="f1__s9__7__60"
                                 unitRef="pure">2822</fsa:AverageNumberOfEmployees>
   <fsa:AverageNumberOfEmployees contextRef="ctx-48"
                                 decimals="0"
                                 id="f1__s9__8__60"
                                 unitRef="pure">2577</fsa:AverageNumberOfEmployees>
   <sob:StatementByExecutiveAndSupervisoryBoards contextRef="ctx-1" id="f1__s9__7__148" xml:lang="en">Management’s statementThe Board of Directors and the Executive Manage-ment have today considered and approved the Annual Report of Københavns Lufthavne A/S for the financial year 1 January – 31 December 2025.The consolidated financial statements have been prepared in accordance with IFRS Accounting Stand-ards as adopted by the European Union and further requirements for listed companies in the Danish Finan-cial Statements Act, and the Parent Company financial statements have been prepared in accordance with the Danish Financial Statements Act.Management’s review has been prepared in accord-ance with the Danish Financial Statements Act.In our opinion, the management review is prepared in accordance with relevant laws and regulations and contains a fair review of the development of the Group's and the Parent’s business and financial matters, the results for the year and of the Parent’s financial position and the financial position as a whole of the entities included in the consolidated financial statements, together with a description of the principal risks and uncertainties that the Group and the Parent face. In our opinion, the consolidated financial statements and the Parent Company financial statements give a true and fair view of the financial position at 31 December 2025 of the Group and the Company, and of the results of the Group's and the Parent Company's operations and consolidated cash flows for the finan-cial year 1 January – 31 December 2025.The sustainability statement has been prepared in accordance with the European Sustainability Reporting Standards (ESRS) as required by the Danish Financial Statements Act as well as Article 8 in the EU Taxonomy Regulation.In our opinion, the Annual Report of Københavns Lufthavne A/S for the financial year 1 January to 31 December 2025 with the file name CPH-2025-12-31-en.zip has been prepared, in all material respects, in compliance with the ESEF Regulation.We recommend that the Annual Report be adopted at the Annual General Meeting in Copenhagen on 15 April 2026.</sob:StatementByExecutiveAndSupervisoryBoards>
   <sob:PlaceOfSignatureOfStatement contextRef="ctx-1" id="f1__s9__7__149" xml:lang="en">Kastrup</sob:PlaceOfSignatureOfStatement>
   <sob:DateOfApprovalOfAnnualReport contextRef="ctx-1" id="f1__s9__7__150">2026-03-13</sob:DateOfApprovalOfAnnualReport>
   <cmn:NameAndSurnameOfMemberOfExecutiveBoard contextRef="ctx-32" id="f1__s9__7__151" xml:lang="en">Christian Poulsen</cmn:NameAndSurnameOfMemberOfExecutiveBoard>
   <cmn:NameAndSurnameOfMemberOfExecutiveBoard contextRef="ctx-33" id="f1__s9__7__153" xml:lang="en">Rasmus Lund</cmn:NameAndSurnameOfMemberOfExecutiveBoard>
   <cmn:TitleOfMemberOfExecutiveBoard contextRef="ctx-32" id="f1__s9__7__152" xml:lang="en">CEO</cmn:TitleOfMemberOfExecutiveBoard>
   <cmn:TitleOfMemberOfExecutiveBoard contextRef="ctx-33" id="f1__s9__7__154" xml:lang="en">CFO</cmn:TitleOfMemberOfExecutiveBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-34" id="f1__s9__7__155" xml:lang="en">Lars Nørby Johansen</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-35" id="f1__s9__7__157" xml:lang="en">Lars Sandahl Sørensen</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-36" id="f1__s9__7__159" xml:lang="en">Anne Louise Eberhard</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <cmn:TitleOfMemberOfSupervisoryBoard contextRef="ctx-34" id="f1__s9__7__156" xml:lang="en">Chair</cmn:TitleOfMemberOfSupervisoryBoard>
   <cmn:TitleOfMemberOfSupervisoryBoard contextRef="ctx-35" id="f1__s9__7__158" xml:lang="en">Deputy Chair</cmn:TitleOfMemberOfSupervisoryBoard>
   <cmn:TitleOfMemberOfSupervisoryBoard contextRef="ctx-36" id="f1__s9__7__160" xml:lang="en">Deputy Chair</cmn:TitleOfMemberOfSupervisoryBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-37" id="f1__s9__7__161" xml:lang="en">Birgit Otto</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-38" id="f1__s9__7__162" xml:lang="en">Anne Skovbro Andersen</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-39" id="f1__s9__7__163" xml:lang="en">Henrik Dam Kristensen</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-40" id="f1__s9__7__164" xml:lang="en">Michael Holm</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-41" id="f1__s9__7__165" xml:lang="en">Michael Marott Bock</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-42" id="f1__s9__7__166" xml:lang="en">Michael Eriksen</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-43" id="f1__s9__7__167" xml:lang="en">Brian Bjørnø</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <arr:AddresseeOfAuditorsReportOnAuditedFinancialStatements contextRef="ctx-1" id="f1__s9__7__169" xml:lang="en">To the shareholders of Københavns Lufthavne A/S</arr:AddresseeOfAuditorsReportOnAuditedFinancialStatements>
   <arr:OpinionOnAuditedFinancialStatements contextRef="ctx-1" id="f1__s9__7__170" xml:lang="en">our opinion, the consolidated financial statements give a true and fair view of the Group’s financial position at 31 December 2025, and of the results of its 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 additional disclosure requirements for listed entities in Denmark.Furthermore, in our opinion, the parent financial state-ments give a true and fair view of the Parent’s financial position at 31 December 2025, and of the results of its operations for the financial year 1 January - 31 December 2025 in accordance with the Danish Finan-cial Statements Act.Our opinion is consistent with our audit book comments issued to the Audit Committee and the Board of Directors.</arr:OpinionOnAuditedFinancialStatements>
   <arr:DescriptionOfQualificationsOfAuditedFinancialStatements contextRef="ctx-1" id="f1__s9__7__171" xml:lang="en">Basis for opinionWe conducted our audit in accordance with Interna-tional Standards on Auditing (ISAs) and the additional requirements applicable in Denmark. Our responsi-bilities under those standards and requirements are further described in the "Auditor’s responsibilities for the audit of the consolidated financial statements and the parent financial statements" section of this auditor’s report. We are independent of the Group in accordance with the International Ethics Standards Board for Accountants’ International Code of Ethics for Professional Accountants (IESBA Code) and the additional ethical requirements applicable in Denmark, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the IESBA Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.To the best of our knowledge and belief, we have not provided any prohibited non-audit services as referred to in Article 5(1) of Regulation (EU) No 537/2014.We were appointed auditors of Københavns Lufthavne A/S for the first time on 16 April 2024 for the financial year 2024. We have been reappointed annually by decision of the general meeting for a total contiguous engagement period of two years up to and including the financial year 2025.</arr:DescriptionOfQualificationsOfAuditedFinancialStatements>
   <arr:KeyAuditMattersAudit contextRef="ctx-1" id="f1__s9__7__172" xml:lang="en">Key audit mattersKey audit matters are those matters that, in our professional judgement, were of most significance in our audit of the consolidated financial statements and the parent financial statements for the financial year 1 January - 31 December 2025. These matters were addressed in the context of our audit of the consol-idated financial statements and the parent financial statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters.Completeness and occurrence of Traffic Revenue  Traffic revenue amounts to DKK 3,361 million and constitutes 61% of total group revenue in the period 1 January – 31 December 2025. Traffic revenue comprises of income from airlines covering passengers, security, handling and take-off charges. The traffic revenue stream is recorded within several operating systems, and in addition, there are a signifi-cant number of transactions. The audit of traffic revenue has been considered a key audit matter due to the complexity of the revenue stream and the significant number of transactions. Reference is made to note 2.2 to the financial state-ments and the accounting policies.How the matter was addressed in our auditWe have tested the completeness and occurrence of traffic revenue. In this context, we: · performed walkthroughs of the traffic revenue process and internal control environment  · tested the effectiveness of internal controls relating to traffic revenue, including controls over revenue per passenger and system reconciliations  · obtained external confirmations from selected airline partners  · tested revenue transactions recorded during the year to supporting documentation on a sample basis · substantive analytical procedures on the correlation between revenue and passengersClassification and valuation of tangible assets under constructionTangible assets under construction amounts to DKK 4,170 million as at 31 December 2025. The balance consists of a significant number of projects, which predominately relates to the expansion of Terminal 3 and security facilities. The audit of the classification and valuation of tangible assets under construction has been considered a key audit matter due to the assessment of classification of cost incurred, magnitude of the capitalised balance and the large number of transactions. Reference is made to note 3.3 to the financial state-ments and the accounting policies.How the matter was addressed in our auditWe have assessed the appropriateness of the classifi-cation and valuation of tangible assets under construc-tion. In this context, we: · performed walkthrough of the processes and internal control environment regarding tangible assets under construction including the process related to capitali-zation of costs · tested the effectiveness of internal controls related to classification and valuation of tangible assets under construction, which includes approval of business cases, specific controls related to the Terminal 3 construction and approval of costs · tested capitalised costs for tangible assets under constructions projects to supporting documentation on a sample basis · evaluated the appropriateness of impairment indi-cators considered by Management by comparing to internal and external factors</arr:KeyAuditMattersAudit>
   <arr:StatementOnManagementsReviewAuditorsReportOnAuditedFinancialStatements contextRef="ctx-1" id="f1__s9__7__173" xml:lang="en">Statement on the Management ReviewManagement is responsible for the Managements Review.Our opinion on the consolidated financial statements and the parent financial statements does not cover the Management Review, and we do not express any form of assurance conclusion thereon.In connection with our audit of the consolidated finan-cial statements and the parent financial statements, our responsibility is to read the Management’s Review and, in doing so, consider whether the Management Review is materially inconsistent with the consoli-dated financial statements and the parent financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated.Moreover, we considered whether management’s review includes the disclosures required by the Danish Financial Statements Act. This does not include the requirements in section 99a related to the sustain-ability statement covered by the separate auditor’s limited assurance report hereon.Based on the work we have performed, we conclude that the management review is in accordance with the consolidated financial statements and the parent financial statements and has been prepared in accord-ance with the requirements of the Danish Financial Statements Act except for the requirements in section 99a related to the sustainability statement, cf. above. We did not identify any material misstatement of the management review.</arr:StatementOnManagementsReviewAuditorsReportOnAuditedFinancialStatements>
   <arr:StatementOfExecutiveAndSupervisoryBoardsResponsibilityForFinancialStatements contextRef="ctx-1" id="f1__s9__7__174" xml:lang="en">Management's responsibilities for the consoli-dated financial statements and parent financial statements Management is responsible for the preparation of consolidated financial statements that give a true and fair view in accordance with IFRS Accounting Stand-ards as adopted by the EU and additional disclosure requirements for listed entities in Denmark as well as the preparation of parent financial statements that give a true and fair view in accordance with the Danish Financial Statements Act, and for such internal control as Management determines is necessary to enable the preparation of consolidated financial statements and parent financial statements that are free from material misstatement, whether due to fraud or error.In preparing the consolidated financial statements and the parent financial statements, Management is responsible for assessing the Group’s and the Parent’s ability to continue as a going concern, for disclosing, as applicable, matters related to going concern, and for using the going concern basis of accounting in preparing the consolidated financial statements and the parent financial statements unless Management either intends to liquidate the Group or the Entity or to cease operations, or has no realistic alternative but to do so.</arr:StatementOfExecutiveAndSupervisoryBoardsResponsibilityForFinancialStatements>
   <arr:StatementOfAuditorsResponsibilityForAuditAndAuditPerformed contextRef="ctx-1" id="f1__s9__7__175" xml:lang="en">Auditor's responsibilities for the audit of the consolidated financial statements and parent financial statementsOur objectives are to obtain reasonable assurance about whether the consolidated financial statements and the parent 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 the additional requirements applicable in Denmark will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated financial statements and these parent financial statements.As part of an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark, we exercise professional judgement and maintain professional scepticism throughout the audit. We also: · Identify and assess the risks of material misstatement of the consolidated financial statements and the parent 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 effective-ness of the Group’s and the Parent’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 consolidated financial statements and the parent financial statements, and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Group's and the Parent’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 consolidated financial statements and the parent 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 Entity to cease to continue as a going concern. · Evaluate the overall presentation, structure and content of the consolidated financial statements and the parent financial statements, including the disclosures in the notes, and whether the consoli-dated financial statements and the parent financial statements represent the underlying transactions and events in a manner that gives a true and fair view. · Plan and perform the group audit to obtain sufficient appropriate audit evidence regarding the financial information of the entities or business units within the group as a basis for forming an opinion on the consolidated financial statements and the parent 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 inde-pendence, and, where applicable, safeguards put in place and measures taken to eliminate threats.From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the consol-idated financial statements and the parent 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__176" xml:lang="en">Report on compliance with the ESEF RegulationAs part of our audit of the consolidated financial state-ments and the parent financial statements of Køben-havns Lufthavne A/S we performed procedures to express an opinion on whether the annual report for the financial year 1 January - 31 December 2025, with the file name CPH-2025-12-31-en.zip, is prepared, in all material respects, in compliance with the Commis-sion Delegated Regulation (EU) 2019/815 on the Euro-pean 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 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 mate-rial 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 audi-tor’s judgement, including the assessment of the risks of material departures from the requirements set out in the ESEF Regulation, whether due to fraud or error. The procedures include: · Testing whether the annual report is prepared in XHTML format; · Obtaining an understanding of the company’s iXBRL tagging process and of internal control over the tagging process; · Evaluating the completeness of the iXBRL tagging of the consolidated financial statements including notes; · Evaluating the appropriateness of the company’s use of iXBRL elements selected from the ESEF taxonomy and the creation of extension elements where no suitable element in the ESEF taxonomy has been identified; · Evaluating the use of anchoring of extension elements to elements in the ESEF taxonomy; and · Reconciling the iXBRL tagged data with the audited consolidated financial statements.In our opinion, the annual report of Københavns Lufthavne A/S for the financial year 1 January - 31 December 2025, with the file name CPH-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__177" xml:lang="en">Copenhagen</arr:SignatureOfAuditorsPlace>
   <arr:SignatureOfAuditorsDate contextRef="ctx-1" id="f1__s9__7__178">2026-03-13</arr:SignatureOfAuditorsDate>
   <cmn:NameOfAuditFirm contextRef="ctx-45" id="f1__s9__7__180" xml:lang="en">DeloitteStatsautoriseret Revisionspartnerselskab</cmn:NameOfAuditFirm>
   <cmn:NameOfAuditFirm contextRef="ctx-44" id="f1__s9__7__179" xml:lang="en">DeloitteStatsautoriseret Revisionspartnerselskab</cmn:NameOfAuditFirm>
   <cmn:IdentificationNumberCvrOfAuditFirm contextRef="ctx-44" id="f1__s9__7__181">33963556</cmn:IdentificationNumberCvrOfAuditFirm>
   <cmn:IdentificationNumberCvrOfAuditFirm contextRef="ctx-45" id="f1__s9__7__182">33963556</cmn:IdentificationNumberCvrOfAuditFirm>
   <cmn:NameAndSurnameOfAuditor contextRef="ctx-44" id="f1__s9__7__183" xml:lang="en">Kirsten Aaskov Mikkelsen</cmn:NameAndSurnameOfAuditor>
   <cmn:NameAndSurnameOfAuditor contextRef="ctx-45" id="f1__s9__7__186" xml:lang="en">Nikolaj Thomsen</cmn:NameAndSurnameOfAuditor>
   <cmn:DescriptionOfAuditor contextRef="ctx-44" id="f1__s9__7__184" xml:lang="en">State Authorised Public Accountant</cmn:DescriptionOfAuditor>
   <cmn:DescriptionOfAuditor contextRef="ctx-45" id="f1__s9__7__187" xml:lang="en">State Authorised Public Accountant</cmn:DescriptionOfAuditor>
   <cmn:IdentificationNumberOfAuditor contextRef="ctx-44" id="f1__s9__7__185">mne21358</cmn:IdentificationNumberOfAuditor>
   <cmn:IdentificationNumberOfAuditor contextRef="ctx-45" id="f1__s9__7__188">mne33276</cmn:IdentificationNumberOfAuditor>
   <arr:AddresseeOfAuditorsReportOnSubstainabilityReports contextRef="ctx-1" id="f1__s9__7__191" xml:lang="en">To the shareholders of  Københavns Lufthavne A/S</arr:AddresseeOfAuditorsReportOnSubstainabilityReports>
   <arr:IdentificationOfMattersOnWhichAssuranceReportIsProvidedAndDescriptionOfAssuranceEngagementSubstainabilityReport contextRef="ctx-1" id="f1__s9__7__192" xml:lang="en">Limited assurance conclusionWe have conducted a limited assurance engage-ment on the Sustainability statement of Københavns Lufthavne A/S (the “Group”) included in the Manage-ment Review (the “Sustainability statement”), for the financial year 1 January – 31 December 2025.</arr:IdentificationOfMattersOnWhichAssuranceReportIsProvidedAndDescriptionOfAssuranceEngagementSubstainabilityReport>
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