Assets

Type	Time	Amount	Unit
ifrs-full:Assets	2026-03-31	9831000000	dkk
ifrs-full:Assets	2025-03-31	9574000000	dkk

Revenue

Type	Start date	End date	Amount	Unit
ifrs-full:Revenue	2025-04-01	2026-03-31	8776000000	dkk
ifrs-full:Revenue	2024-04-01	2025-03-31	8379000000	dkk

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   <mrv:SustainabilityReport contextRef="ctx-1" id="f0__s9__7__5-1" xml:lang="en">3,374Full-time employeesKICKS1,193Matas incl. Group HQ2,031Other1150ESRS 2, 40 a-iii Headcounts1	“Other” represents Firtal, Grænn and Web Sundhed.Our business modelMatas Group has a proven and scalable business model to deliver the best customer experience. We are connecting 6 million loyal club members to brands in a big and attractive Nordic market while being the top-of-mind brand with high customer satisfaction. Proven modelMatas Group has a proven and scal-able business model, with compet-itive advantage througout the value chain to deliver the best customer experience. Strongest supplier relationsDecade-long supplier relationships Good terms and access to brands, news, and exclusivesLoved “only in” brandsHigh-margin in-house brands in multiple categoriesSelective distribution/ authorised retailerAutomated supply chainNew centralised and highly automated warehouses Low fulfillment costPowerful omni-channel presenceLeading store network of 500 stores and leading online sites Cost advantages in customer acquisition and fulfillmentBeauty experts~3,400 full-time colleagues and beauty professionalsValue beyondthe productTop-of-mind brand and high customer satisfactionWhen customers are asked where to buy beauty they say "Matas"/"KICKS". Customer satisfaction is measured continously for stores and online. Loyal customers6 million loyal club membersOwn media suite with national reach Lower marketing cost ratioESRS 2, 42a-c Biusiness model and value chainESRS 2, 40 a-ii Significant markets and customer groupsValue-adding sourcing set-upThird-party – Supplier relationsBrand-building partnerOwn brands portfolioOne-stop beauty and wellbeing offeringHigh-end beautyEveryday beautyHealth and wellbeingOmni-channel specialty retailStoresAppE-commerceCustomer relations and loyaltyTrained advisorsClubOwn mediaESRS 2, 40 a-i Products and services offeredESRS G1, 5a - The role of administrative, management and supervisory bodies related to business conductDuties and responsibilities of the Board of Directors At Matas Group, management duties and respon-sibilities are divided between the Company's Board of Directors and the Executive Committee. No person is a member of both of these bodies, and no member of the Board of Directors has previously been a member of the Executive Committee. Matas Group has Rules of Procedure for the Board of Directors, which are reviewed and approved by the Board of Directors. The Board of Directors holds six ordinary board meetings plus a strategy seminar each year and will further convene as required. In the 2025/26 financial year, seven board meetings, seven extraodinary board meetings and one strategy seminar were held. The Executive Committee is in charge of the day-to-day management, while the Board of Directors supervises the work of the Executive Committee and is responsible for the overall management and strategic direction. In relation hereto, the Board of Directors every year considers the Company’s overall strategy and purpose to ensure continuous value creation. The requirements for the Executive Committee’s timely, accurate and adequate reporting to the Board of Directors and for the communication between these two corporate bodies are laid down in the Rules of Procedure of the Executive Committee, which are reviewed and approved by the Board of Directors. ESRS 2, 21 a - Number of executive membersESRS 2, 21 a - Number of non-executive membersESRS 2, 21 b - Information about representation of employees and other workersESRS 2, 21 d - Percentage of members of administrative, management and supervisory bodies by gender and other aspects of diversityESRS 2, 21 e - Percentage of independent board membersBoard of DirectorsUnit2025/2621aExecutive membersHeadcount021aNon-executive membersHeadcount621bEmployee representationHeadcount021dFemale board members%5021dMale board members%5021eIndependent board members%100ESRS 2.GOV-1, 20c; 2.GOV-1, 21c; ESRS G1.GOV-1, 5bThe board and committee meetingsBoardmeetings Strategyseminar AuditCommittee NominationCommittee RemunerationCommittee 2025/26total Malou Aamund (Chair)■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■100%■100%■■ ■ ■ ■100%■100%■ ■ 100%100%Mette Maix■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■100%■100% ■ ■100%■ ■ ■ ■100%100%Espen Eldal■■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■93%■0%■ ■ ■ ■100% 89%Barbara Plucnar Jensen ■ ■ ■ ■■ ■ ■ ■ ■ ■ ■ ■ ■ ■■86%■100%■■ ■ ■ ■ ■100%90%Henrik Taudorf Lorensen■■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■93%■100% ■ ■100%■ ■ ■ ■100%95%Kenneth Melchior■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■100%■100%■ ■ ■ ■ ■100%  100%Lars Vinge Frederiksen  (former Chair)1■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■■ ■ ■100%■■ ■ ■ ■ ■■■100% ■ ■■ ■ 100% 100%2025/26 meetings1494%183%5100%2100%4100%95%1	Resigned 16 June 2025■ Present■AbsentESRS 2.GOV-1, 20c The expertise and skills of its administrative, management and supervisory bodies on sustainability matters or access to such expertise and skills.ESRS 2 GOV-1, 21c Information about member's experience relevant to sectors, products and geographic locations of undertakingESRS G1.GOV-1, 5b The expertise of administrative, management and supervisory bodies on business conduct mattersBoard competenciesMalou AamundMette MaixEspenEldalBarbara Plucnar JensenHenrikTaudorf LorensenKennethMelchiorC-level management and board experience■■■■■■Strategy / business development and execution in international/multi-market companies■■■■■■FMCG, consumer and retail sector management experience■■■■Digital, e-commerce, omnichannel and loyalty experience■■■■Capital markets experience: Financial and investor communication for listed international companies ■■■Financial, accounting, audit, CFO area expertise■■ESG and corporate governance■■■■■Large scale M&amp;A: Transaction and value-creation at board or C-level. ■■■■Technology, data and AI insight■■■Sustainability at Matas GroupWith an ESG strategy supporting our overall business strategy, we focus on sustainability matters that are closely linked to the core of our business, particularly climate change mitigation, working conditions, and product transparency and safety. During the year, we continued to strengthen ESG integration across the Group and made significant progress across our key priorities. Matas Group’s ESG ambition is focused on three areas: Never compromise on safety, reducing retail impact, and pioneering mental health. Together, these pillars help ensure that growth is pursued responsibly by strengthening trust in our products and advice, reducing the environmental impact of our operations and value chain, and promoting wellbeing for colleagues across markets and brands. This way, our ESG strategy supports long-term busi-ness resilience by embedding sustainability considerations into decision-making, operations and stakeholder relationships. We form our ESG strategy objectives and targets based on our materiality assessment process, where we consider input from key external and internal stakeholder groups to identify and prioritise the sustaina-bility matters relevant to our business and value chain. Sustainability at Matas GroupWe have set 6 targets to drive the implementation of our ESG strategy. Below is our progress against these targets.Key milestones during the yearOur progress on our ESG strategy targets was made by a number of significant milestones and tangible results across all three pillars.Never compromise on safetyRealised a 10%p increase in share of In-house brands verified by the third-party consumer platform Kemi-Luppen. See page 106 →Updated our Supplier Code of Conduct to strengthen requirements for product transparency and safety, including compliance with documented environmental and health-related product claims. See page 106 →Strengthened our consumer guidance through point-of-sale communication to support vulnerable consumer groups in the safe and appropriate use of skincare prod-ucts. See page 106 →Continued to prioritise recognised third-party certi-fications for relevant in-house brand products to support independently verified product claims and clear consumer communication. See page 105 →Reducing retail impactAchieved a 157 tons of CO2emission reductions through the transition to electric company vehicles and gener-ated 1,197 MWh renewable electricity through Matas Group’s on-site solar panels. See page 71 →Increased the share of Scope 3 Category 1 emissions covered by suppliers with climate reduction targets to 31.7% up from 18.9% in the previous year. See page 71 →The taxonomy-aligned warehouse, Matas Logicstics Center (MLC), achieved DGNB Gold certification, while KICKS Logistics Center (KLC) finalised its BREEAM certi-fication. Together, these milestones demonstrate how sustainability criteria are integrated into our logistic and operation investments. See page 69 →Realised a 46% reduction in plastic in Matas' logistics operations following the shift from plastic to paper-based e-commerce packaging. See page 90 →Pioneering mental healthExceeded employee engagement survey target by 6 points. See page 96 →Increased mental health training satisfaction from 65 NPS score to 66 NPS score this year. This milestone demonstrates the Group’s ability to deliver meaningful and valuable mental health training. See page 96 →Launched and initiated roll-out of our new digital mental health learning and development programme, which will be offered to more than 6,000 employees during the coming financial year. See page 94 →Launched a certified listening-based leadership training programme for store managers across selected markets to strengthen early stress awareness, trust-based dialogue and responsive leadership. See page 95 →Basis for preparationBP-1 General basis for preparation of sustainability statementThe Sustainability Statement is prepared on a consolidated basis for Matas A/S and its subsid-iaries (Matas Group). The scope of consolidation is consistent with the financial statements and covers the financial year from 1 April 2025 to 31 March 2026.The Sustainability Statement covers relevant upstream and downstream value chain infor-mation in accordance with the applicable ESRS requirements. The Group has not made use of the options to omit information related to impending developments, matters during negotiation, or clas-sified or sensitive information, including intellec-tual property, know-how or results of innovation.BP-2 Disclosures in relation to specific circumstancesTime horizonsThe Group applies the time horizons defined by the ESRS. Short-term corresponds to the reporting period of one-year, medium-term covers two to five years, and long-term covers periods beyond five years.Value chain estimationsGHG emissions (Scope 1 - 3) are based on direct data where available. For Scopes 1 - 2, emissions are primarily based on measured consumption, with less than 5% estimated. Scope 3 repre-sents more than 90% of total emissions and is primarily estimated using spend-based methods and average emissions factores. We continue to improve accuracy by increasing the use of activ-ity-based methods and expanding access to supplier-specific data through ongoing supplier dialogue.Sources of estimation and outcome uncertaintyFor E1, Scope 3 Category 1 ‘Purchased goods and services’, 74% of emissions are estimated using a proxy emission factor due to the limited availability of product-specific data for beauty products, and as such, represents a source of uncertainty. The remaining 26% are based on emission factors from EXIOBASE v3. 59% of waste impact is estimated due to limited supplier-specific data, which is only available for warehouse locations and approximately 50% of Matas stores. The estimate is based on waste amounts and composition from Matas stores, calculated per square metre and extrapolated to remaining Matas and all KICKS stores. This approach is considered reasonably robust, as store size is a proxy for product volume and both banners share similar product portfolios. However, it introduces uncertainty in our waste impact.Changes in preparation or presentation of sustainability informationWe have applied a new activity-based approach to estimate electricity and heating consumption in KICKS stores in Sweden, Norway and Finland, using consumption data per square meter multiplied by total store area. This replaces the previous mixed methodology and improves consistency. Following our SBTi target approval process we are restating Scope 2 location-based and market-based emissions from 2024/25. In the same process we have reallocated emis-sions from hotel and restaurant services to be included in Scope 3, category 1 (purchased goods and services). This change in method has resulted in a restatement of Scope 3, category 6 (business travel) for 2024/25. Employee commuting data is now based on a 2025/26 employee survey and scaled to repre-sent the total workforce. This replaces the previous use of national standard assumptions and provides a more company-specific basis. As a result of this, we have restated Scope 3, cate-gory 7, Employee commuting for 2024/25.We have refined our method for estimating emissions from electronic equipment sold. We have improved data quality with a more gran-ular classification of products based on elec-tricity consumption (low, medium, high). This has resulted in a restatement of Scope 3, category 11, use of sold products, for 2024/25.We have changed the method to calculate the CEO pay ratio (reported in our remuneration report) and gender pay gap (reported under S1-16). Previously it has been calculated based on one month's data and extrapolated to a full year. This change has resulted in a restatement of both metrics in 2024/25.2024/25 taxonomy data has been restated due to change in the allocation between CCM 7.7 and CCM 7.2. Following the revised approach, renova-tion expenditures are allocated to CCM 7.2, while CCM 7.7 is limited to acquisition, ownership and new lease additions. The restatement improves classification and ensures comparability across reporting periods. Reporting errors in prior periodsWe have restated our 2024/25 energy-mix (E1-5), as we now accounts for our purchase of GOs.Waste data reported under E5-5and in Scope 3, category 5, waste generated in operations, has been recalculated for 2024/25 as the reported waste impact was lacking completeness. The updated data covers KICKS HQ, Matas HQ, and Matas stores, and also impacts KICKS stores, as their waste impacts are estimated on Matas' store waste impact.Following the change in methodology estimating emissions associated with electronic prod-ucts sold, we found an error, as we, in 2024/25, inputted the CO2-e as kilo tonnes instead of tonnes CO2-e. This has resulted in a restatement of Scope 3 category 11, use of sold products, in 2024/25.We have restated the 2024/25 data for CCM 7.3 under our taxonomy reporting, as this activity previously included renovation of stores, which has now been reallocated to CCM 7.2. The reported number of complaints through own channels (S1-17) in 2024/25 has been restated, as we now include all submissions received through our whistleblower channel, regardless of their categorisation as whistleblower compliants.Disclosures stemming from other legislation or generally accepted sustainability reporting pronouncementsIn this Sustainability Statement, Matas Group reports on section 99d (see S4.1 →,Data Ethics Policy) and 107f (see S1-9 →, Gender Distribution at top manage-ment level) of the Danish Financial Statements Act. The index below summarises whenever information is incorporated by reference. ESRS DRParagraphDisclosuresSection in Annual ReportPageGOV-1ESRS 2, 20 cThe expertise and skills of its administrative, management and supervisory bodies on sustainability matters or access to such expertise and skills.Corporate Governance 41ESRS 2, 21 aNumber of executive membersCorporate Governance39ESRS 2, 21 aNumber of non-executive membersCorporate Governance39ESRS 2, 21 bInformation about representation of employees and other workersCorporate Governance39ESRS 2, 21 cInformation about member's experience relevant to sectors, products and geographic locations of undertakingCorporate Governance41ESRS 2, 21 dPercentage of members of administrative, management and supervisory bodies by gender and other aspects of diversityCorporate Governance39ESRS 2, 21 ePercentage of independent board membersCorporate Governance39SBM-1ESRS 2, 40 a-iProducts and services offeredOur business model11ESRS 2, 40 a-iiSignificant markets and customer groupsOur business model10ESRS 2, 40 a-iiiHeadcountsThis is Matas Group8ESRS 2, 40 bRevenueThis is Matas Group8ESRS 2, 42a-c Business model and value chainOur business model10S1-16ESRS S1, 97bAnnual total remuneration ratioRemuneration Report23G1.GOV-1ESRS G1, 5aThe role of administrative, management and supervisory bodies related to business conductCorporate Governance39ESRS G1, 5bThe expertise of administrative, management and supervisory bodies on business conduct mattersCorporate Governance41E1.GOV-3ESRS E1.GOV-3, 13Share of total remuneration from ESG related targetsRemuneration Report13GovernanceDuring the financial year 2025/26, we have implemented our new ESG strategy and further strengthened our ESG governance structure to support execution and the management of material impacts, risks and opportunities (IROs). Our governance structure is designed to ensure clear accountability, cross-organisational coordination and effective oversight of sustainability matters.GOV-1The role of the administrative, management and supervisory bodiesThe Board of Directors and the Executive Committee; the Group CEO and Group CFO, have overall responsibility for the Group’s ESG strategy and progress. The Board of Directors provides strategic oversight, while the Executive Committee ensures executive-level ownership and integration of ESG priorities.The Executive Management Team is respon-sible for reviewing progress of the ESG strategy and for decisions related to strategic prioriti-sation and resource allocation. The People and ESG Steering Committee oversees ESG strategy implementation and regulatory compliance and serves as a forum for reviewing progress and agreeing on corrective actions, if required.12The Board Committees act as supervisory bodies for sustainability matters. The Audit Committee oversees ESG reporting and related controls, as described in the risk management section. The Nomination Committee supports the Board of Directors in ensuring that appropriate sustainability-related skills and expertise are avail-able within the governing bodies. The Remuneration Committee determines the Group’s remuneration framework, including ESG-linked targets, and evalu-ates performance against these targets.Operational oversight of the Group’s mate-rial impacts, risks and opportunities (IROs), and the implementation of the Group’s ESG strategy and realisation of targets, is exercised by the ESG Project Management Office (ESG PMO). The ESG PMO maintains an overview of the IRO portfolio and coordinates updates to the Double Materi-ality Assessment (DMA) where material changes are identified. This oversight is performed on an 34ongoing basis in collaboration with the ESG Centre of Excellence, which represents relevant business units and subject matter experts across the Group. Through this dialogue, changes in the relevance and materiality of IROs are assessed and validated at business unit level.The outcome of this work is communicated to the Executive Management Team and the Executive Committee as part of the annual ESG strategy implementation review. Material changes to the IRO portfolio are also communicated to the Audit Committee in connection with its oversight of ESG reporting. The Board of Directors has overall oversight of Matas Groups identified IRO’s in connection with their management responsibility as a board. The oversight of IROs happens in conjunction with the oversight of the Group’s ESG strategy progress.For further information on the composition, diver-sity and sustainability-related skills and expertise of the governing bodies, reference is made to the Corporate Governance section, on page 39→.GOV-2Information provided to and sustainability matters addressed by the undertaking’s administrative, management and supervisory bodiesThe administrative, management and supervisory bodies are informed ad hoc about the Group’s material sustainability matters and impacts, risks and opportunities (IROs) through structured ESG reporting from the ESG PMO team. Information provided includes updates on the status of mate-rial IROs, progress on ESG strategy implementa-tion and relevant regulatory developments related to sustainability reporting and compliance. The information supports the administrative, manage-ment and supervisory bodies in overseeing how material IROs are reflected in the Group’s ESG strategy, risk management processes and, where relevant, strategic decision-making.During the reporting period, the governing bodies were informed of the outcome of a focused update of the Double Materiality Assessment, including the IRO portfolio, described under ‘Our impacts, risks and opportunities’ section on page 59→.GOV-3Integration of sustainability-related performance in incentive schemesTo support accountability for our sustainability performance, we have an ESG target inte-grated into short-term incentive programme for members of the Executive Committee and rele-vant employees on the group bonus scheme. For these employees, 10% of variable remuneration is directly linked to performance against Matas Group’s SBTi-validated Scope 1 and Scope 2 emissions reduction targets.The ESG-related target forms part of the overall performance assessment under the short-term incentive programmes and is reflected in the Group’s Remuneration Policy. For more informa-tion on the Group’s remuneration and incentives scheme, see Matas Group Remuneration Report, page 23 →. The Remuneration Committee prepares and periodically reviews the Remuneration Policy and submits it to the Board of Directors for review, before it is approved by the general meeting. Information on remuneration paid to members of the Board of Directors and the Executive Committee is disclosed in the Group’s annual Remuneration Report.GOV-5Risk management and internal controls over sustainability reportingMatas Group has established risk management and internal control processes to support the reli-ability and quality of its sustainability reporting. These processes are integrated into our overall internal control framework and apply to the preparation of the sustainability statement.Risks related to sustainability reporting are identified and assessed as part of the reporting process, with particular focus on data availability, data quality and the use of estimates, including reliance on value chain data. We prioritise risks based on their potential impact on the accuracy and completeness of reported information.Key mitigation measures include defined data ownership within business units, central coordina-tion and review by the ESG PMO team, plausibility checks, and review of reported data. Identified risks and mitigation actions are documented and followed up as part of the reporting cycle.The findings from the risk assessment and internal controls are integrated into relevant internal func-tions involved in sustainability reporting, including finance, ESG and business units. Progress and material issues related to sustainability reporting are reported periodically to the Executive Committee and the Audit Committee as part of their oversight of sustainability reporting.Interests and views of stakeholdersSBM-2Interests and views of stakeholdersEngagement with relevant stakeholders is funda-mental to not only Matas Group’s strategy and business model, but also significant for the ensured ESG progress and provides insights into how we prioritise and manage our sustainability efforts. Stakeholder interests and perspectives are considered an integrated part of how we conduct business and carry out decision-making and ESG priorities across the Group. The ESG tartgets we have set for our ESG strategy has been based on the input below, however our target setting has been decided by internal stake-holders. Key stakeholders Engagement approach and purposeOutcome from engagementEmployees and leadershipOngoing engagement through job satisfaction and wellbeing surveys, performance and development dialogues, worker representation, and regular internal dialogue.Insights into employee wellbeing, engagement and organisational needs, informing initiatives related to mental health, wellbeing and workplace development.ConsumersEngagement through customer service channels, complaints handling, feedback mechanisms, and loyalty programmes. External stakeholder survey conducted to identify the relevance of ESG focus areas.Improved understanding of consumer expectations, trust and sentiment, informing product offering, customer experience and ESG priorities.Investors and ESG ratersRegular dialogue with investors and ESG rating agencies, supported by transparent ESG disclosures and meetings.Inputs used to strengthen ESG governance, reporting practices and strategic priorities, including focus areas of high investor relevance.Partners and suppliersContinuous engagement through daily collaboration, supplier dialogue and implementation of the Supplier Code of Conduct.Strengthened collaboration and alignment on ESG expectations, supporting progress on responsible business practices and ESG ambitions.Regulators, authorities, NGOs, peers, media and local communitiesOngoing monitoring of interests and views, with direct engagement initiated where relevant or required.External perspectives considered in risk assessment, compliance efforts and overall ESG governance.Subject matter experts (internal and external)Involvement of subject matter experts in daily operations and strategic processes, including the Double Materiality Assessment. External stakeholder interviews used to complement internal expertise.Expert input used to validate and refine assessments, priorities and approaches within the business model and ESG strategy.Our impacts, risks and opportunitiesSMB-1Strategy, business model and value chainAs a retailer, we serve our customers with a broad product assortment and rely on the collabora-tion with a large and diverse supplier base (See our business model and strategy on page 10). Our business model and strong independence of our value chain means that the identified impacts, risks and opportunities (IROs) arise in the upstream and downstream value chain, and our own operations. Upstream, our IROs are linked to the production and formulation of products, including the use of raw materials, chemicals, energy and labour at supplier level. While these activities are not under our direct operational control, we are connected to them through our sourcing decisions, supplier relationships and product requirements. Within our own operations, IROs mainly relate to retail and logistics activities, including energy consumption, packaging used for distribution and working conditions for our employees. Downstream, IROs arise in relation to product use, consumer health and safety, product information and transparency, data privacy in our customer loyalty programmes, and the end-of-life phase of products and packaging.SBM-3 Material impacts, risks and opportunities and their interaction with strategy and business modelMatas Group’s material impacts, risks and oppor-tunities (IROs) have been identified through our Double Materiality Assessment (DMA), which was updated during the reporting period. The update represents a focused refinement of the methodology, including improved applicability and the inclusion of external stakeholder input. The update did not result in changes to the overall set of material disclosure requirements compared to the prior year. As part of this update, selected IROs were reassessed and, in some cases, reclassified to better reflect their underlying nature and alignment with ESRS:Reclassified and reallocated IROsE2:Pollution-related IROs were reassessed and allocated to more specific sub-topics (e.g. water pollution and microplastics). In addition, impacts previously considered under E2 in rela-tion to the product use phase are now reflected under S4, as the identified impact is linked to product use and consumer information. E2:IROs related to substances of concern were reassessed and are now assessed under S2 (working conditions in the value chain). This reflects that the identified impact relates to health and safety in production processes.E5:Waste-related IROs were reclassified according to value chain and own operations impacts and assessed to better reflect and place the different types of waste stream asso-ciated with our business model. Scoped out IROsS1:The IRO related to equal treatment and oppor-tunities was scoped out following reassessment. The assessment indicated that the identified impact primarily reflects structural character-istics of the beauty retail sector, including a higher share of female employees, rather than company-specific policies or practices leading to unequal treatment or opportunities.S4:Previously reported positive impacts related to responsible marketing practices and product certifications were scoped out following reas-sessment. The reassessment indicated that these elements represent business practices and product characteristics, rather than distinct positive impacts on consumers or end-users as defined under ESRS. The table below shows the Group’s material IROs, their classification as impacts, risks or opportu-nities, value chain positions, time horizons and references to the relevant topical ESRS disclosures, where related policies, actions, targets and metrics are described.Not all material IROs are covered by specific ESRS disclosure requirements. Where relevant, enti-ty-specific disclosures have been included to reflect the Group’s ESG targets. In accordance with applicable phasing-in provisions, certain data points are currently not reported.The identified material IROs form the basis for the Group’s prioritisation of ESG efforts, governance processes and strategic focus areas. Detailed management of impacts, risks and opportunities is addressed in the respective topical ESRS disclosures.Financial effects and resilience of business model and strategyBased on our assessment, the Group’s material risks and opportunities do not have any current financial effect on the financial position, financial perfor-mance, cash flows, access to financing or cost of equity. Compared to the prior reporting period, no significant changes have been identified. We will continue to develop our understanding of poten-tial future financial effects and will further refine or analyse as data availability and methodologies evolve, including assessments of the resilience of the business and strategy over time.Material impacts, risks and opportunities and their interaction with our strategy and business modelESRS topicIRO nameIRO descriptionOO/VCTime horizonsIRO typeActual/ potentialE1GHG emissions from transportation of goods in upstream and downstream value chain.Transportation in the upstream and downstream value chain generates greenhouse gas emissions within Scope 3, as goods are transported globally by suppliers and distributed across Nordic markets to stores and online customers.VC■■■■■■(N)ActualGHG emissions from energy consumption in supplier production (Scope 3)Energy consumption in supplier production is a key driver of greenhouse gas emissions within Scope 3, Category 1 (purchased goods and services).VC■■■■■■(N)ActualGHG emissions from energy consumption in own operations (Scope 1 and Scope 2)Energy consumption in retail stores, warehouses, and offices is a key driver of greenhouse gas emissions within Scope 1 and Scope 2.OO■■■■■■(N)ActualE2Chemicals pollute water during production and in the use-phase.Chemicals from cosmetic product ingredients pollute water during production and the use phase, as water used for cleaning in manufacturing and for washing off products carries substances and particles into sewage systems.VC■■■■■■(N)ActualPollution of water and aquatic organisms from microplastics during useMicroplastics present in a limited number of products are likely to be released during use, enter sewage systems, and contribute to water pollution and potential harm to aquatic organisms.VC■■■■■■(N)ActualESRS topicIRO nameIRO descriptionOO/VCTime horizonsIRO typeActual/ potentialE3Water withdrawals as part of cosmetic product formulations (as an ingredient)Water withdrawals occur in the upstream value chain as water is a key ingredient in most cosmetic product formulations, contributing to water consumption during product manufacturing.VC■■■■■■(N)ActualWater withdrawals in production and manufacturing processesWater withdrawals take place in the upstream value chain due to water use in production and manufacturing processes, contributing to water consumption during the production of cosmetic products.VC■■■■■■(N)ActualWater use in the use phase of cosmetic productsCosmetic products require water during the use phase, as products such as shampoo, conditioner, body wash, and cleansers are used and rinsed off with water, resulting in indirect water withdrawals by consumers.VC■■■■■■(N)ActualE4Biodiversity and ecosystem degradation from cultivation of feedstock.The impact originates from the growing of feedstock used in cosmetic product formulations. Cultivation of bio-based ingredients, particularly palm oil, can contribute to monoculture, deforestation, and biodiversity loss.VC■■■■■■(N)ActualE5Material and resource use for product packaging Cosmetic product packaging relies on material inflows, primarily plastic, glass, paper, and cardboard, with virgin plastic being one of the most widely used materials in the industry.VC■■■■■■(N)ActualMaterial and resource use for product distributionMaterial inflows in the Group’s own operations primarily consist of cardboard, paper filling, and plastic used for transportation and distribution of products and goods to customers and stores.OO■■■■■■(N)ActualWaste generated from sold products.Despite the longer shelf life of cosmetic products compared to other fast-moving consumer goods, packaging remains largely single use due to limited refill options, resulting in waste generation.VC■■■■■■(N)ActualWaste generated in own operations.The biggest waste impact generated across Matas Group entities is identified at the HQ and warehouse locations, comprising a large share of waste from warehouse and logistic operations. OO■■■■■■(N)ActualESRS topicIRO nameIRO descriptionOO/VCTime horizonsIRO typeActual/ potentialS1Working conditions and occupational strain for store and warehouse employeesEmployees in stores and warehouses are exposed to more physically demanding working conditions than other employee groups. Warehouse work involves heavy lifting and physical strain, while store employees may experience challenging customer interactions, including abusive language, as well as incidents of theft and robbery, which negatively affect their working conditions and wellbeing.OO■■■■■■(N)ActualHigh employee churn rate and reputational damage.Poor working conditions may lead to increased employee turnover and higher levels of sickness absence, resulting in higher recruitment, onboarding, and operational costs. Challenges in attracting and retaining employees pose a reputational risk, leading to adverse financial effect on the Group’s operations and performance.OO■■■■■■(R)PotentialPositive impact on employee mental health and personal resilienceMatas Group has integrated mental health and life skills training as a mandatory element of its learning and development programmes, recognising employees as whole individuals beyond their professional roles. The training focuses on personal resilience, improving mental health, and the ability to navigate personal life and workplace engagement, rather than solely on job-related competencies.OO■■■■■■(P)ActualS2Poor working conditions in the upstream value chainPotential risks of poor working conditions at Tier 3 suppliers, particularly in the extraction of raw materials and the cultivation of feedstocks, occurring far upstream in the value chain.VC■■■■■■(N)PotentialWork-related rights in the raw materialsextraction phasePotential risks of child labour exist in the extraction of certain raw materials, such as mica, occurring far upstream in the value chain.VC■■■■■■(N)PotentialESRS topicIRO nameIRO descriptionOO/VCTime horizonsIRO typeActual/ potentialS4Incomplete, unclear or misleading product information and claims can potentially impact consumers’ ability to make informed choices.The increasing volume and complexity of ingredient information and product claims may challenge clear communication of product contents, usage, and attributes across sales channels and customer touchpoints, affecting consumers’ ability to make informed purchasing decisions.OO/VC■■■■■■(N)PotentialIncomplete, unclear or misleading product information and claims can lead to reputational damage.If product information is unclear, inconsistent, or misunderstood across sales channels and customer touchpoints, this may weaken consumer trust in the Group’s advisory role and product credibility. A loss of trust could negatively affect customer loyalty and purchasing behaviour, resulting in adverse financial effects.OO/VC■■■■■■(R)PotentialConsumer health and safety risk arising from complex product use and external influence on consumption behaviour.The increasing complexity of cosmetic routines, combined with the influence of social media trends promoting overconsumption and unverified product combinations, is likely to lead to incorrect use of products and adverse skin reactions. Without clear and responsible guidance, consumers may be exposed to unnecessary health risks, especially for vulnerable consumer groups, like kids or young adults.OO/VC■■■■■■(N)ActualReputational damage from insufficient consumer guidance amid social media influence.There is a financial and reputational risk if Matas Group lacks the expertise and ability to provide clear, reliable guidance on the safe use of products, as this may expose consumers to health and safety risks and allow unsubstantiated social media guidance to influence consumer behaviour.OO/VC■■■■■■(R)PotentialExposure of sensitive customer data from Matas Group's retail loyalty clubsA potential breach of data security or personal data protection could expose the personal information of many consumers enrolled in the Group’s loyalty programmes. Such an incident could result in serious negative impacts on affected individuals, including loss of privacy and increased risk of misuse of personal data.OO/VC■■■■■■(N)PotentialRegulatory fines and reputational damage arising from potential data security breaches.Potential breaches of data security or non-compliance with data protection regulation represent a financial risk for the Group. A data breach affecting personal information held in the Group’s loyalty programmes could result in regulatory fines, remediation costs, and reputational damage, potentially leading to material adverse financial effects.OO/VC■■■■■■(R)PotentialG1Poor and unhealthy corporate culture impacting employee behaviour and satisfaction negatively.If corporate culture is not actively managed, organisational change and integration - including the integration of aquired companies such as KICKS - may negatively affect employee behaviour, engagement, and wellbeing. Corporate culture influences everyday interactions across the Group, and misalignment between Group-level and local cultures may result in potential negative impacts on employees.OO■■■■■■(N)PotentialHigh employee churn rate and reputational damage because of unmanaged corporate cultureIf corporate culture is not actively managed during organisational change and integration, this may lead to reduced employee engagement, higher turnover, and increased sickness absence. These effects can result in higher recruitment and onboarding costs, reduced productivity, and challenges in retaining and attracting talent, potentially leading to adverse financial impacts for the Group.OO■■■■■■(R)PotentialImpact, risk and opportunity managementIRO-1 The process to identify and assess material impacts, risks and opportunitiesWe identify and assess our material impacts, risks and opportunities (IROs) through the Double Materiality Assessment (DMA), covering both impact materiality and financial materiality across our own operations and value chain. The DMA is coordinated by the ESG PMO Team in collabo-ration with relevant subject matter experts and draws on internal data, external sources and stakeholder input and engagement (as described in Interests and views of stakeholders). Where direct data is limited, the assessment may include reasonable assumptions, including in the evalu-ation of likelihood, based on available evidence, sector knowledge and the characteristics of the relevant activity, business relationship or sourcing context.The identification phase considers actual and potential IROs related to our own operations and upstream and downstream business rela-tionships. Attention is given to activities, busi-ness relationships and sourcing contexts where adverse impacts or financially material matters are more likely to arise, as visualised in our value chain model on page 60-63.Impacts Impacts on people and the environment are assessed based on severity and likelihood. Severity is assessed with reference to scale, scope and, for negative impacts, irremediability. For own operations, the assessment is primarily based on internal policies, processes and avail-able operational data. For impacts linked to business relationships, the assessment relies on supplier and product-related information, external risk indicators and, where relevant, stakeholder or expert input. The identification of IROs are assessed using the same overall methodology, however for human rights-related impacts, severity precedes likelihood, in line with ESRS and international due diligence principles, recognising that the most severe risks to people warrant prioritisation even where their likelihood is lower.Risk and opportunitiesRisks and opportunities are assessed based on the likelihood, nature and potential magnitude of financial effects over the short, medium and long-term perspectives, considering how impacts and dependencies may translate into financial effects. Quantitative and qualitative criteria are used in line with the Group’s overall risk management approach.Our DMA supports the determination of which sustainability matters are material for reporting purposes and these are monitored through peri-odic refreshes of the assessment and updates when relevant new information becomes avail-able.The DMA is integrated into our governance and risk management processes. The results are reviewed by the Executive Committee and the Audit Committee as part of the Group’s reporting oversight. Changes in the outcome of the assessment and resulting material matters are described in SBM-3.During the reporting period, the DMA was subject to a focused revision. While the underlying meth-odology remained unchanged, the evidence base was strengthened through improved data availa-bility, additional external input and refinement of the application of existing assessment criteria.E1Climate changeAt Matas Group, we recognise our responsibility to address both climate mitigation and climate resilience in our approach to climate change. Together, they form part of the broader context for how we work with climate-related topics across the Group.E1.IRO-1Processes to identify impacts, risks and opportunitiesOur climate-related impacts, risks and opportu-nities (IROs) are identified and assessed through distinct but complementary processes, covering emissions tracking, operational screening and forward-looking risk assessment across our own operations and value chain.Climate-related impactsTo identify climate-related impacts, we map and track the Group’s greenhouse gas emissions across our own operations and value chain. This work is based on our greenhouse gas inventory, covering Scope 1, Scope 2 and Scope 3 emissions, which helps us understand where emissions IROPolicy*ObjectiveGHG emissions from transportation of goods in upstream and downstream value chain. (N)Supplier Code of ConductReduce climate impact from transpor-tation through clear expectations for suppliers.GHG emissions from energy consumption in supplier production (Scope 3). (N)Supplier Code of Conduct Climate and Environmental PolicyEncourage emissions reductions in supplier production through requirements, dialogue and engagement.GHG emissions from energy consumption in own operations (Scope 1 and Scope 2). (N)Climate and Environmental PolicyReduce emissions from own operations through energy efficiency and use of renewable energy where feasible.Positive impact (P), Negative impact (N), Oppurtunity (O), Risk (R).*	The policies apply across the Group, are subject to the Group’s governance framework, with the Board responsible for oversight and implementation. The policies are available on www.matasgroup.com.occur and where our activities contribute to climate impact. Emissions and energy consump-tion are monitored across stores, offices and warehouses, and business activities are screened to identify actual and potential sources of green-house gas emissions across the value chain.The assessment of climate-related impacts, risks and opportunities identified material negative impacts related to climate change mitigation, while climate change adaptation was not iden-tified as a material topic in the DMA. To assess climate change adaptation in relation to Matas Group and our business model, we applied the findings from a climate resilience analysis performed in the financial year, where we identi-fied the potential effects of climate-related phys-ical and transitional risk on the Group. We found that the likelihood of material financial effects within the applicable assessment time horizons was assessed as low. Consequently, there are no material impacts, risks or opportunities related to climate change adaptation, but we are ongo-ingly observing this area and its materiality to the Group.Climate resilience analysisOur climate resilience analysis covers own oper-ations and relevant parts of the value chain and is based on the climate-related scenario analysis. It assesses Matas Group’s potential exposure and sensitivity to both physical climate hazards and transition-related developments under different climate pathways.Climate-related hazards and physical risksPhysical climate risks are identified by screening own operations and relevant parts of the value chain for exposure to climate-related hazards. The assessment forms part of a climate resil-ience analysis informed by two climate-related scenarios: A Abrupt Transition scenario (SSP2-4.5) and a No Transition scenario (SSP5-8.5). Together, the scenarios are used to assess potential expo-sure and sensitivity to physical climate hazards over reference years 2030 and 2050.Climate-related transition risksThe assessment of climate-related transition risks and opportunities draws on insights from existing analyses, including regulatory and market developments, as well as supplier maturity and upstream dependencies related to feedstocks and ingredients. It considers how changes in policy, market expectations, technology and stakeholder requirements may affect the busi-ness over the short, medium, and long-terms. Results of the climate resilience analysisOwn operations risksOur climate resilience analysis shows that parts of our own operations are exposed to physical climate risks, and that exposure varies across the markets and locations where we operate. The analysis points in particular to flooding-related risks (including riverine, coastal and precipitation flooding), rising groundwater and, in some areas, landslides. We have screened all locations and grouped them into low, medium and high-risk areas to support prioritisation over time. The assessment does not take municipal climate adaptation plans into account (e.g., planned flood protection measures), meaning that the assessed physical risk levels for some locations may change as such measures are implemented locally.Value chain risksThe analysis also indicates that parts of our value chain may be exposed to physical climate risks, particularly in bio-based feedstock supply chains. Here, potential risks include drought, water stress, extreme heat and wildfires. As exposure is highly dependent on geography, the assessment is sensitive to where feedstocks are sourced. Transition risksOur transition risk assessment indicates that the Group’s most relevant transition-related exposures are driven by tightening regulation and increased expectations for transparency and responsibility across the value chain. This includes potential cost and complexity impacts linked to carbon pricing and broader sustaina-bility regulation (e.g., packaging responsibilities and traceability requirements), as well as uncer-tainty in the availability and cost of certain raw materials and feedstock as markets and supply chains adjust. In parallel, shifting consumer expectations and increased scrutiny of product claims may affect both demand and reputational exposure over time. Overall, the assessment highlights that transition risk for Matas Group is mainly linked to cost drivers, compliance require-ments and value chain dependencies, rather than direct exposure to climate-intensive assets.Resilience considerationsThe analysis supports our view that Matas Group has flexibility to adapt over time. In our own oper-ations, most locations are leased rather than owned, which provides flexibility to adjust our store network if physical climate risks increase in specific areas. To strengthen preparedness, we have started to include ESG clauses in relevant new lease agreements and engage landlords on climate adaptation measures. In the value chain, resilience is supported by a diversified supplier base across a large number of suppliers and brands, reducing dependency on single sourcing geographies and supporting our ability to adjust sourcing and supplier collaboration over time if upstream stability is affected.Furthermore, our resilience to transition risks is supported by a proactive approach to regulation, suppliers and customers. We strengthen resilience through ongoing supplier dialogue and engage-ment, helping us understand and respond to changing requirements and cost drivers across the value chain. We also monitor current and emerging regulation, so we can adjust in a timely way as frameworks evolve. Our ESG strategy supports our transition resilience by helping us work proactively with evolving ESG requirements as we work on realising our science-based reduction targets and explore potential circularity levers. Finally, we stay close to shifting consumer preferences through continuous customer insight, including from our loyalty clubs, enabling us to adapt our assortment and communication as expectations change.E1-1 Climate transition plan Matas Group’s climate transition plan describes how we work systematically to reduce green-house gas emissions and transition to a low-carbon economy. The plan reflects our role as a Nordic omnichannel retailer, where most emissions arise in the upstream value chain, while emissions from own operations represent a smaller share of the Group’s total footprint. Rather than a standalone initiative, the transition plan provides a long-term framework for how climate mitigation is integrated into our busi-ness strategy, operational priorities and supplier relationships. It is designed to support steady progress over time and ensure that climate considerations remain part of everyday deci-sion-making across the Group.Alignment with climate scienceOur climate transition plan is anchored in Matas Group’s approved near-term climate targets and related decarbonisation actions. The Group’s absolute Scope 1 and Scope 2 emissions reduc-tion target is aligned with a 1.5°C pathway and therefore provides the primary basis for how climate science is reflected in the transition plan.For Scope 3, Matas Group has established a supplier engagement target. This target supports value chain decarbonisation by increasing the share of emissions covered by suppliers that have adopted science-based targets in line with the Science Based Targets initiative (SBTi) framework. Given that the majority of the Group’s emissions arise upstream in the value chain, supplier engagement is a key transition lever. SBTi recognises supplier engagement targets as an accepted approach to near-term Scope 3 target-setting, supporting the development of Paris-aligned decarbonisation pathways. For parts of the retail sector, detailed sector-specific decarbonisation pathways are not yet available. Consequently, we use science-based targets as our primary reference point for climate alignment. Our targets provide a clear and credible frame-work for prioritising actions and tracking progress across our operations and value chain.Reduction leversOur approach to climate mitigation focuses on where we can create the greatest impact, combining direct action in our own operations with long-term engagement across our value chain. The reduction levers are implemented through the actions described in E1-3and is intended to drive emission reductions across our operations and value chain.Own operationsIn our own operations, we focus on reducing emissions through energy efficiency and the transition to renewable energy. This includes optimising energy use in stores, warehouses and offices, increasing the share of renewable elec-tricity, and gradually transitioning our company car fleet to electric vehicles. These measures are prioritised because they deliver tangible emission reductions within our direct control.Value chainOur near-term engagement target is designed as a first step in a long-term transition of our value chain. As a retailer, most of our emissions are linked to the products we sell and hereby placed in Scope 3, outside of our direct operational Scope 1 and Scope 2 reduction leversOwn generated energyProcurement of GOsCompany carsStore energy reductionStationary combustioncontrol. As such, we depend on our suppliers to support the decarbonisation of our intercon-nected value chain. Reducing these emissions requires close collaboration with our suppliers. Through continuous dialogue, contractual instruments embedded in our Supplier Code of Conduct and long-term partnerships, we work with suppliers to support the development of credible emission reduction pathways over time.Investments and financial considerationsImplementation of the transition plan is supported through investments and operating expenditures embedded in the Group’s ordinary financial plan-ning and business operations, rather than through a standalone climate investment programme. The most relevant expenditures relate to electrifica-tion of the company car fleet, which is captured under note 3.3, "Leases", and energy efficiency measures, renewable electricity procurement, on-site renewable energy generation and selected supplier engagement activities, which are captured under "Other external costs", note 2.3. As the Group’s business model does not rely on greenhouse gas-intensive assets, the transition plan does not depend on large-scale capital investments or significant changes to the asset base. Locked-in emissionsOur locked-in emissions are limited and mainly related to existing assets such as leased vehicles and heating installations. These emissions repre-sent a small share of our total operational emis-sions and are expected to decline over time as assets are renewed or replaced.We do not consider locked-in emissions to pose a significant barrier to achieving our emission reduction targets. The transition plan therefore focuses on gradual improvements aligned with normal investment and replacement cycles.EU taxonomy and fossil fuel exposureOur activities have limited direct coverage under the EU taxonomy climate mitigation criteria, and the transition plan does not depend on a signifi-cant increase in taxonomy-aligned activities. We have no material investments related to coal, oil or gas, and Matas Group is not excluded from the EU Paris-aligned benchmarks.Integration into our business strategyThe climate transition plan is embedded in our overall business strategy, “Win the Nordics”, and forms one of the elements of our Group ESG strategy: Reducing retail impact. It provides a common direction for how we work with climate mitigation across markets, functions and brands.Progress on climate-related topics is supported by our governance structures and performance monitoring. Our remuneration framework links incentives to the decarbonisation of our own operations, reinforcing accountability for sustain-ability outcomes as part of broader business performance.Governance and progressThe climate transition plan has been approved by the Executive Committee and the Board of Direc-tors and is governed at Group level. Oversight and follow-up are embedded in existing governance structures.During the reporting period, the Group has focused on operationalising the transition plan by working with the identified decarbonisation levers within own operations and the value chain. This work supports the implementation of the tran-sition plan and ensures that climate mitigation is addressed as part of ongoing business activities rather than as a standalone initiative.E1-3Actions and resources related to climate changeIn 2025/26, Matas Group’s science-based targets were formally validated by the Science Based Targets initiative (SBTi), providing a clear basis for directing the climate actions needed to deliver our targets across our own operations and value chain. For allocation of ressources associated with our actions, please see section 'Investments and financial considerations'.Renewable electricity and contractual instrumentsDuring the reporting year, we continued to procure renewable electricity across our opera-tions through Guarantees of Origins, covering a substantial share of our electricity consumption in Sweden, Norway and Finland.In Denmark, we increased our purchase of renew-able energy certificates linked to verified renew-able energy production from a local Danish solar farm. The decision to increase certificate volumes reflects our continued prioritisation of renewable electricity procurement as a decarbonisation lever, as our investment will drive the demand for future renewable installations to respond to the demand of certificates.On-site renewable energy and certified buildingsDuring the reporting year, both the KICKS Logistic Center (KLC) in Sweden outside Stockholm and the Matas Logistics Center (MLC) in Denmark outside Copenhagen were fully operational with installed solar panels, and in total generated 1,197mWh of renewable electricity. On-site renew-able generation reduces purchased electricity consumption and supports the decarbonisation of our own operations.In addition, this year, KLC obtained BREEAM certification and MLC achieved DGNB Gold certi-fication. These certifications document that the buildings meet recognised standards for energy performance, environmental impact and opera-tional efficiency, and support reduced emissions from our logistics activities over time.Electrification of the company car fleetDuring the reporting year, we replaced a signif-icant share of our company car fleet with elec-tric vehicles. This has resulted in an emission reduction of 157 tCO2. This transition forms part of our ongoing electrification effort and reduces direct fuel-related emissions under Scope 1. Fleet replacement is implemented progressively in line with lease renewals and procurement cycles, ensuring a fully electrical company car fleet before FY 2029/30.Energy management and operational efficiencyDuring the reporting year, we initiated preparatory work for an energy management approach across selected pilot stores. This included store visits and assessments to identify potential opportu-nities to improve energy efficiency. The purpose of this initial phase was to map improvement areas and build a clearer understanding of reduc-tion potential before defining a more structured energy management plan. This preparatory phase is expected to be completed in the near future. Supplier engagement on climate targetsAs part of our Scope 3 approach, we have, in the reporting year, updated our Supplier Code of Conduct to reflect a shared ambition to decar-bonise our value chain. We expect suppliers to set science-aligned climate targets, develop time-bound emission reduction plans, and engage with relevant value chain partners to improve trans-parency on emissions, energy use and reduction opportunities. Through this engagement, we aim to better understand supplier progress and challenges and identify how we can support lower-emission outcomes across the value chain. These engagements are part of our supplier engagement target and aim to increase transpar-ency in supplier emissions data and the number of target-setting suppliers.E1-4Targets related to climate changeTo ensure that climate ambition translates into measurable progress, we have defined near-term emission reduction targets aligned with climate science. These targets establish the trajectory for our operational decarbonisation and value chain engagement. During the reporting year 2025/26, Matas Group’s science-based targets were vali-dated by the Science Based Targets initiative (SBTi).The key decarbonisation levers for our Scope 1 and Scope 2 reduction targets impacts the scopes differently. Scope 1 reductions are primarily driven by the ongoing transition of the company car fleet to electric vehicles, which is expected to gradually reduce fuel-related emis-sions over time. In 2025/26, Scope 1 emissions decreased by ~32% from 628 tCO2to 424 tCO2, including a reduction of 157 tCO2from car fleet update. Scope 2 reduction are primarily driven by increased procurement of renewable elec-tricity though Guarentees of Origin (GOs), which is expected to be main driver of Scope 2 emis-sions reductions going forward. This is reflected in the year-on-year development, where Scope 2 emissions decreased by ~38% from 4,096 tCO2in 2024/25 to 2,532 tCO2in 2025/26. Monitoring and governanceProgress toward our climate targets is monitored by the ESG PMO Team, with regular reporting provided to the Executive Committee and the Board of Directors. Performance is assessed based on the percentage reduction in Scope 1 and Scope 2 emissions relative to the baseline year, as well as the share of Scope 3 emissions covered by suppliers that have adopted science-based targets. Target performance is reviewed annually to ensure continued alignment with internal prior-ities, governance processes and relevant external climate frameworks.Scope 1 and Scope 2 reduction target42%emission reduction in Scope 1 and Scope 2 emissions by FY 2030/31.The target is based on the market-based method for Scope 2 emissions and is aligned with SBTi requirements for near-term targets. The baseline year 2024/25 emissions totalled 4,724 tCO2. The target year emissions corre-spond to 2,740 tCO2.Scope 3 engagement target90%of emission from purchased good and services will be covered by suppliers with science-based targets by FY 2029/30. In the baseline year 2024/25, 18.9% of Scope 3 emissions were covered by suppliers with science-based targets. E1-3 Actions and progress towards targets - illustration of reduction leversScope 1 &amp; Scope 2 Reduction leversOwn generated energyDuring the reporting year, we increased on-site renewable energy generation at our logistics centres through solar installations. This resulted in a reduction of ~224 tCO2, contributing around 7% of the total reduction achieved during the year.Procurement of GOsWe increased procurement of renewable electricity through Guarantees of Origin. This has resulted in a reduction of 2,435 tCO2e, representing the largest share of the total reduction achieved.Company carsWe continued the electrification of our company car fleet during the reporting year, replacing a significant share of fossil-fuelled vehicles. This resulted in a reduction of ~157 tCO2. corresponding to around 5% of the total reduc-tion achieved.Store electricity reductionDuring the reporting year, we observed a reduction in store electricity consumption of ~168 tCO2corresponding to around 6% of the total reduction achieved.Other reductionsOther reductions include emission reductions from operational improvements, including reductions from stationary combustion and refrigerants. This has resulted in a reduction of ~15 tCO2corresponding to around 1% of the total reduction achieved.Scope 1 &amp; Scope 2 reduction targetThe reduction target reflects our ambition to reduce Scope 1 and Scope 2 emissions by 42%, from 4,724 tCO2e to 2,740 tCO2e. The figure illustrates the contribution of key emission reduction levers and does not represent a full reconciliation of year-on-year emission changes.Scope 3Scope 3 supplier engagement targetDuring the reporting year, the share of Scope 3 cat. 1 emissions covered by suppliers with science based targets increased from 18.9% in the baseline year to 31.7%.The illustration and accompanying descriptions reflect the main drivers of emission reductions achieved during the reporting year and demonstrate progress towards the Group's emission reduction targets. E1 Ent. Spec. Scope 3 supplier engagementUnit2025/262024/25Scope 3 Cat. 1 emissions covered by suppliers with science-based reduction targets%31,718.9Accounting policy Entity specific Scope 3 supplier engagementThis metric reflects the share of the Group’s Scope 3 Category 1 emissions (purchased goods and services) that are attributable to suppliers with validated science-based emission reduction targets aligned with the Science Based Targets initiative (SBTi).The percentage is calculated by identifying Scope 3 Category 1 emissions from suppliers with science-based targets in place and comparing these emissions to the Group’s total reported Scope 3 cat. 1 emissions. E1-4Climate-related targetsTarget2025/26Type of targetBaseline yearUnitBaseline valueTarget yearTarget year valueScope 1 &amp; Scope 2- Reduce emissions by 42%37.5Near-term - absolute reductions2024/25tCO24,724*2030/312,740*Scope 3- 90% of the Groups total Scope 3 Cat. 1 emissions are covered by suppliers who have adopted science-based targets31.7Near-term - Engagement target2024/25%18,92029/3090Accounting policies GHG emissions reduction targetsThe table presents Matas Group’s validated science-based climate targets.The Scope 1 and Scope 2 target is disclosed as an absolute reduction target in tCO2e, based on the market-based method for Scope 2 emissions. The baseline year is 2024/25, and emissions are calculated in accord-ance with the GHG Protocol as described under E1-6.The Scope 3 supplier engagement target is measured as the percentage of total Scope 3 cat. 1 emissions covered by suppliers that have adopted science-based targets. *	These figures has been restated due to minor adjustments during our SBTi validation process. The baseline value has increased from 4,701 tCO2e to 4,724 tCO2e. The target value has increased from 2,727 tCO2e to 2,740 tCO2e.E1-5Energy consumption and mix Unit2025/262024/25Energy intensity per net revenueMWh per DKK million4.24.3Total energy consumptionMWh36,84735,824Accounting policy Energy intensity per net revenueEnergy intensity is calculated as total energy consumption (MWh) divided by net revenue (DKK million) for the reporting year.Total energy consumption includes electricity, district heating and fuel used in own operations, as disclosed under E1-5. Net revenue is derived from the consolidated financial statements for the reporting year, see note 2.1.Matas Group’s principal activities fall within NACE Section G (wholesale and retail trade), which is included in the definition of high climate impact sectors. Accordingly, the disclosed energy intensity is based on energy consumption and net revenue from activities within this sector.206E1-5Energy consumption and mix Unit2025/262024/25Fuel consumption from coal and coal productsMWh00Fuel consumption from crude oil and petroleum productsMWh7261,254Fuel consumption from natural gasMWh1,2551,318Fuel consumption from other fossil sourcesMWh00Consumption of purchased or acquired electricity, heat, steam, and cooling from fossil sourceMWh8,25610,385*Total fossil energy consumptionMWh10,23712,957*Share of fossil sources in total energy consumption%27.836.2*Consumption from nuclear sources MWh1,361898*Share of consumption from nuclear sources in total energy consumption%3.72.5*Fuel consumption for renewable sources, including biomass MWh00Consumption of purchased or acquired electricity, heat, steam, and cooling from renewable sourcesMWh24,53821,663*Consumption of self-generated non-fuel renewable energyMWh711306Total renewable energy consumptionMWh25,24921,969*Share of renewable sources in total energy consumption%68.561.3*Total energy consumptionMWh36,84735,824*Production of self-generated non-fuel renewable energyMWh1,197306Accounting policy Energy consumption and mixEnergy consumption includes fuel for company vehicles, natural gas for heating, purchased electricity and district heating.Total energy consumption is compiled based on metered data obtained from energy suppliers and internal records at operational level. Where direct metered data is not available (e.g., certain leased stores where utilities are included in rent), consumption is estimated based on representative samples and extrapolated to the full population. The energy mix (fossil, nuclear and renewable sources) is determined based on suppli-er-specific information where available and supplemented by national or regional energy mix data for the relevant countries of operation. Energy data is subject to internal controls and reconciled with operational and financial records before approval by Management.*	Restatement: These figures has been restated due to a prior-year error of the energy mix. The consumption of renewable energy now reflects our purchase of GOs. The reported total fossil energy consumpumption last year was 8,833 MWh and this has been changed to 12,957 MWh. The consumption from nuclear sources has changed from 2,062 MWh to 898 MWh. The total renewable energy consumption has changed from 24,931 MWh to 21,969 MWh. E1-6Gross Scopes 1, 2, 3 and Total GHG emissionsGHG emissionsUnit2025/262024/25Scope 1 GHG emissionsGross Scope 1 GHG emissionstCO2e424628Percentage of Scope 1 GHG emissions from regulated emisissions trading schemes (%)%00Scope 2 GHG emissionsGross location-based Scope 2 GHG emissionstCO2e1,3121,340*Gross market-based Scope 2 GHG emissionstCO2e2,5324,096*Significant Scope 3 GHG emissionsTotal Gross indirect (Scope 3) GHG emissions (tCO2eq)tCO2e209,693230,954*Category 1: Purchased goods and servicestCO2e180,340178,771*Category 2: Capital goodstCO2e14,04936,664Category 3: Fuel and energy-related activitiestCO2e488527*Category 4: Upstream transportation and distributiontCO2e1,6492,476Category 5: Waste generated in operationstCO2e4954*Category 6: Business traveltCO2e1,1691,479*Category 7: Employee commutingtCO2e5,1865,045*Category 11: Use of sold productstCO2e6,7095,695*Category 12: End-of-life treatment of sold productstCO2e54243Percentage of GHG Scope 3 calculated using primary data%00Total GHG emissionstCO2e212,649235,678*Total GHG emissions (location-based)tCO2e211,429232,922*Total GHG emissions (market-based)tCO2e212,649235,678*GHG intensity per net revenueTotal GHG emissions (location-based) per net revenue tCO2e per DKK million24.127.8*Total GHG emissions (market-based) per net revenue tCO2e per DKK million24.328.1*Net revenue (See note 2 →) Millions (DKK)8,7768,379GHG emissionsUnit2025/262024/25Contractual instrumentsPercentage of contractual instruments, Scope 2 GHG emissions %73.354.7Percentage of contractual instruments used for sale and purchase of energy bundled with attributes about energy generation in relation to Scope 2 GHG emissions %11.516.8Percentage of contractual instruments used for sale and purchase of unbundled energy attribute claims in relation to Scope 2 GHG emissions%61.737.9Accounting policies Gross Scope 1, Scope 2, Scope 3 and total GHG emissions Matas Group’s greenhouse gas accounting is prepared in accordance with the GHG Protocol Corporate Accounting and Reporting Standard and the GHG Protocol Corporate Value Chain (Scope 3) Accounting and Reporting Standard.Emissions are calculated for the greenhouse gases included in the GHG Protocol and expressed as CO2equivalents (CO2e) using global warming potentials from IPCC AR6: carbon dioxide (CO2), methane (CH4), nitrous oxide (N2O), hydrofluorocarbons (HFCs), perfluorocarbons (PFCs), sulfur hexafluoride (SF6) and nitrogen trifluoride (NF3).The emissions covers all entities and geographies within the organisational boundary for the reporting year. Reporting follows the Group’s financial year from 1 April to 31 March. Activity data is collected from internal systems and external suppliers and consolidated and calculated in the Position Green sustainability platform. The platform supports consistent application of emission factors and documentation of methodologies and assumptions. Reported data is subject to internal controls, including reconciliation against financial and operational records, and is reviewed and approved by Management.Scope 1 GHG emissionsScope 1 includes direct emissions, including fuel consumption, stationary combustion (e.g. natural gas for heating) and fugitive emissions from refrigerants. Emissions are calculated using activity data obtained from suppliers and internal systems. Emission factors for natural gas are based on national generic factors (Energistyrelsen, 2024). Emission factors for vehicle fuels and refrigerants are obtained from suppliers where available. Refrigerant global warming potentials are applied in accordance with IPCC AR6 and GHG Protocol guidance.Scope 2 GHG emissionsScope 2 includes indirect emissions from purchased electricity and heating consumed in our operations. Emissions are calculated in accordance with the GHG Protocol Scope 2 Guidance using both the loca-tion-based and market-based methods. Electricity and heating consumption data is obtained from suppliers and, where relevant, building lessors. Where metered data is unavailable, consumption is estimated based on representative store samples and extrapolated to the full population. Under the location-based method, emissions are calculated using national or regional grid emission factors for Denmark (East and West), Sweden, Norway and Finland. Under the market-based method, emissions reflect contractual instruments associated with electricity procurement, including Guarantees of Origin and renewable energy certificates. Supplier-specific emission factors are applied where available. Where supplier-specific data is not available, residual mix factors from European Residual Mix dataset are applied. Where the most recent data is not yet available, the latest available dataset is used. Self-generated renewable electricity from on-site solar installa-tions reduces purchased electricity consumption and is reflected in both location-based and market-based Scope 2 calculations.The location-based emissions factor in West Denmark is 73.2 g CO2e/kWh and in East Denmark it is 46.8 g CO2e/kWh (Norsk Elkraft 2025). In Sweden the emissions factor is 5.0 g CO2e/kWh, while being 311.6 g CO2e/kWh in Finland and 6.7 g CO2e/kWh in Norway (AIB 2025). The market-based emissions factor is 487.0 g CO2e/kWh in Denmark (Norsk Elkraft 2024). 85.5 g CO2e/kWh in Sweden, 534.8 g CO2e/kWh in Norway and 405.6 g CO2e/kWh in Finland (AIB 2025).Matas Group's purchase of unbundles contractual instruments to decarbonise the electricity consumption is accounted for seperately and the nature of the instruments disclosed (GOs). The percentage of Scope 2 market-based emissions covered by contractual instruments is calculated as the tCO2e assosiated with electricity consumption covered by GOs divided by total Scope 2 emissions before application of contractual instruments. Contractual instruments purchased together with electricity supply are clasified as bundled. Contractual instruments purchased seperately from electricity supply are classified as unbundled. *	This figure has been restated due to minor adjustments during our SBTi validation process. Scope 2 location-based emission increased from 1,338 tCO2e to 1,340 tCO2e and Scope 2 marked-based increased from 4,073 tCO2e to 4,096 tCO2e.Scope 3 GHG emissionsScope 3 emissions are calculated in accordance with the GHG Protocol Corporate Value Chain Standard. Relevant categories are identified through a screening process, and categories 8, 9, 10, 13, 14 and 15 where excluded as either no emission occur due to the nature of Matas Group's operations, or the source of emis-sions was not included in the GHG Protocol Corporate Value Chain (Scope 3) Accounting and Reporting Standard (Version 2011) guidance related to the minimum boundaries requirements. Where relevant, emis-sions are calculated using a combination of supplier-specific data, activity-based methods and spend-based approaches, selected based on data availability and relevance. Where there was risk of double counting, this has been avoided and described under each category. Scope 3 Category 1 – Purchased goods and servicesThis category includes upstream greenhouse gas (GHG) emissions from the production of goods and services purchased during the reporting year, including both goods used in Matas Group’s own operations and goods purchased for resale.Categories already accounted for under Scope 1, Scope 2 or other Scope 3 categories (e.g., Capital Goods, Transportation, Waste, Business Travel, Employee Commuting and End-of-Life Treatment of Sold Products) are excluded to avoid double counting.*	Restatment: This has been restated due to the SBTi validation process where business related emissions from hotels and restau-rants have been moved from category 6: Business travel to category 1: Purchased good and services. This has resulted in a change from last years figures 175,178 tCO2e to 178,771 tCO2e. Calculation methodologyEmissions are calculated using a combination of:Spend-based method – applied to goods and services not intended for resale.Supplier-specific method – applied to goods purchased for resale.Spend-based methodPurchases excluding goods for resale are allocated to relevant spend categories and multiplied by emission factors (g CO2e/DKK), sourced from EXIOBASE v3 based on closest category alignment. The calculation is based on consolidated financial data for the reporting year.Industry gap and custom approach (supplier-specific method) For the goods for resale, there are currently no widely recognised emission factor for the manufacturing of cosmetics and beauty products. Availabe alternatives, such as factors for pharmaceuticals, soaps/deter-gents, or beauty retails either over or underestimate emissions and do not reflect the real impact of Matas Group's upstream value chain. Therefore, we have chosen to develop a custom method using supplier specific data where possible, to reflect supplier climate maturity. this approach aligns with our SBTi commit-ment and our long-term strategy to engage suppliers in reducing emissions. Suppliers are grouped based on data availability and target alignment:1.	Supplier dataMatas own brand suppliers: Emission factors are calculated using supplier-specific Scope 1, Scope 2 and upstream Scope 3 data obtained directly from the supplier (30.4 g CO2e/DKK)..SBTi-aligned suppliers: Emission intensity is calculated as reported Scope 1, Scope 2 and upstream Scope 3 emissions divided by annual turnover, based on the latest publicly available data (27.7 g CO2e/DKK). 2.	Average dataSBTi suppliers without available emissions data: Emission factors are estimated using the average emis-sion intensity of SBTi-aligned suppliers (27.9 g CO2e/DKK).Other suppliers: Emission factors are estimated using an average emissions intensity derived from publicy available GHG emissions data from comparable beauty industry manufactures, including both SBTi and non-SBTi suppliers. Emission intensity is calculated as total reported emissions divided by turnover based on 2024 data. The methodology and underlying emission factors have not been updated during the reporting year and are updated on a binnial basis (29.4 g CO2e/DKK). Inbound transportation emissions are excluded from this category to avoid double counting, as they are reported under Scope 3 Category 4.Scope 3 Category 2: Capital goodsCategory 2 includes emissions from purchased capital goods. We apply a spend-based method using consolidated financial data. All emissions from a capital good are taken in the year of procurement. Capital goods are identified in accordance with financial accounting definitions but excludes capitalised hours of Matas Groups staff, consultants and similar intangible assets. Emission factors are sourced from EXIOBASE v3 based on best category alignment. Double counting with Scope 1, Scope 2 and other Scope 3 categories is avoided through financial reconciliation.Scope 3 Category 3: Fuel- and energy-related activitiesCategory 3 includes upstream emissions related to fuel and energy not included in Scope 1 or Scope 2. Emis-sions are calculated based on Scope 1 and Scope 2 activity data. Emission factors represent upstream (well-to-tank) emissions associated with the production and supply of fuels and energy, in accordance with GHG Protocol guidance.*	This figure has been restated due to an update in carbon accounting platform. This has resulted in a change of last years figures from 489 tCO2e to 527 tCO2e.Scope 3 Category 4: Upstream transportation and distributionCategory 4 includes emissions from transport of purchased goods from suppliers to our operations, as well as transport to endpoints where customers receive purchased goods. For inbound transport, a distance-based (average) method is applied. Activity data includes supplier-level weight of purchased goods and transport distances. Distances are estimated using direct road distance for the top 18 suppliers, and the resulting ton-kilometres are used to extrapolate total inbound transport work. Inbound emission factors 132.1 g CO2e/km are based on DEFRA (2025) standard lorry/HGV factors. For outbound transport, we apply a supplier-specific method using logistics providers’ reported transport activity and emissions (including well-to-wheel and tank-to-wheel where available). Where suppliers cannot provide a full split, missing elements are estimated based on the information available from the supplier.Scope 3 Category 5: Waste generated in operationsCategory 5 includes emissions from treatment and disposal of waste generated in operations. We apply an activity-based method using waste volumes by type and treatment route, based on data from waste contractors. Where complete waste data is not available, estimates are developed based on available data and extrapolated to reflect total waste volumes. The applied emission factors 0.0213 tCO2e/t are sourced from EXIOBASE v3.*	This figure has been restated due to an omission in the prior reporting period. Following completeness of data, reported Scope 3 Category 5 emissions increased from 43 tCO2e to 52 tCO2e for 2024/25. Scope 3 Category 6: Business travelCategory 6 includes emissions from business travel. We apply a combined supplier-specific and spend-based approach using travel expense data from the consolidated financial accounts together with supplier information (e.g., air, rail, hotel and car travel), consolidated to avoid double counting. Emission factors are sourced from suppliers where available, supplemented by EXIOBASE v3 where relevant.*	This figure has been restated due to a reallocation of hotel and restaurant emissions from Category 6 to Category 1, following guidance from the Science Based Targets initiative, in the process of our SBT validation process. As a result, reported emissions for Category 6 decreased from 3,385 tCO2e to 1,479 tCO2e. Scope 3 Category 7: Employee commutingCategory 7 includes emissions from employee commuting between home and workplace. During the reporting year, we updated the methodology by conducting an internal employee survey across countries and functions to collect primary data on commuting distance, transport mode and frequency. Based on 762 responses, results were extrapolated to average headcounts during the year to estimate overall commuting activity. Emissions are calculated by multiplying estimated commuting distances by mode-specific emission factors sourced from DEFRA (2025). This approach increases the use of primary data and improves accuracy compared to prior methodology.* This figure has been restated due to a change in methodology decribed above. Last years figures were 3,022 tCO2e to 5,045 tCO2eScope 3 Category 11: Use of sold productsCategory 11 includes emissions from the use-phase of sold products requiring electricity. During the reporting year, we refined the methodology by screening sold products and labelling those requiring elec-tricity. Products were categorised into three consumption bands: low (&lt;50W), medium (51-300W) and high (&gt;300W). For each category, units sold were multiplied by estimated lifetime usage and electricity consump-tion. Assumptions on product lifetime and usage patterns are based on standard estimates for similar product categories. Total consumption was multiplied by the electricity emission factor 421.9 g CO2e/kWh (AIB 2025) to estimate emissions. This updated approach improves granularity and methodological robust-ness compared to prior reporting periods.*	This figure has been restated due to a prior-year error and a refined estimation methodology. The 2024/25 figure of 15 ktCO2e was corrected and updated to 5,695 tCO2e. The methodological update reflects a more granular classification of electrcity consump-tion for electronic products. Scope 3 Category 12: End-of-life treatment of sold productsCategory 12 includes emissions from end-of-life treatment of sold products. We apply an average method based on the estimated weight of products sold and assumptions related to packaging and disposal. For estimation purposes, 80% of product mass is assumed to be packaging and 20% is assumed to be consumed and therefore not generating waste. Packaging material composition is estimated by product type rather than at individual product level. Waste treatment routes are assumed as no analysis of actual end-of-life practices has been conducted. The applied emission factor 0.0213 tCO2e/t represents an average waste treatment mix, including recycling, incineration and landfill, based on DEFRA (2025) assumptions.E2PollutionPollution is a material topic in the cosmetics industry, given the industry’s use of chemicals in product formulation and the direct contact between products and consumers. At Matas Group, product transparency and safety are key to meeting regulatory requirements, consumer expectations and to maintain trust in our product offering.E2.IRO-1Processes to identify impacts, risks and opportunitiesTo identify pollution-related impacts, risks and opportunities (IROs), we screen our own opera-tions and upstream and downstream value chain. As we do not manufacture products and have no production activities at our sites, no material pollution-related emissions have been identified in our own operations. The identified pollution-re-lated impacts relate to emissions during the production of cosmetics in the upstream value chain and product use in the downstream value chain.IROPolicy*ObjectiveChemicals polluting water during production and in the use-phase (N)Internal Ingre-dients Policy for in-house brandsSupplier Code of ConductEstablish internal guidelines to reduce the risk of pollution from chemical substances and microplastics by applying stricter ingredient and product require-ments for in-house brands. Set contractual requirements for environmental protection and promote transparency and responsible practices among external suppliers in the upstream value chain.Pollution of water and aquatic organ-isms from microplastics during use (N)Positive impact (P), Negative impact (N), Opportunity (O), Risk (R).*	The policies apply across the Group, are subject to the Group’s governance framework with the EVP Group Commercial responsible for oversight and implementation. The supplier CoC is available on www.matasgroup.com. The Ingredients Policy is an internal policy.E2.MDR-A Actions related to pollutionDuring the reporting period, we updated our internal Ingredients Policy for in-house brands to further strengthen requirements for product development and ingredient selection. This policy framework is a key tool for mitigating potential pollution-related impacts linked to chemical substances and microplastics.Matas Group has not set specific actions or time-bound targets related to pollution. Our approach to managing pollution-related impacts is primarily policy-driven and embedded in our Supplier Code of Conduct and our Ingredients Policy for in-house brands, which set requirements that go beyond applicable EU legislation for selected substances and ingredients. The effectiveness of our approach is monitored qualitatively through the development of identified IROs and through ongoing dialogue with suppliers, rather than through quantitative targets at this stage.E3Water and marine resourcesWater is a material topic in the cosmetics industry due to its importance in product formulations and its role across the product life cycle, from production to use phase. Increasing pressure on water resources globally makes responsible water use an important consideration in the cosmetics sector.E3.IRO-1Processes to identify impacts, risks and opportunitiesTo identify water-related impacts, risks and opportunities (IROs), we screen our own oper-ations and upstream and downstream value chain. As Matas Group does not manufacture products and has no production activities at our sites, no material water withdrawals or waste-water discharges have been identified in our own operations. The identified water-related impacts primarily relate to water use and wastewater management in the production of cosmetic prod-ucts in the upstream value chain, as well as water use during the consumer use phase.IROPolicy*ObjectiveWater withdrawals as part of cosmetic product formulations (as an ingredient) (N)Supplier Code of ConductPromote responsible water use and appropriate wastewater treatment by setting clear expectations for suppliers and encouraging continuous improve-ment across their operations.Water withdrawals in production and manufacturing processes (N)Water use in the use phase of cosmetic products (N)Positive impact (P), Negative impact (N), Opportunity (O), Risk (R).*	The policy applies across the Group, is subject to the Group’s governance framework with the EVP Group Commercial responsible for oversight and implementation. The policy is available on www.matasgroup.com.E3.MDR-A Actions related to water and marine resourcesDuring the reporting period, we have updated our Supplier Code of Conduct to strengthen expecta-tions related to responsible water use and waste-water treatment in the value chain. The update reflects our approach to managing water-related impacts through supplier requirements, recog-nising that the identified impacts occur in the upstream value chain where operational control lies with suppliers.Matas Group has not set time-bound or outcome-oriented targets related to water use or water-related impacts. Given our role as a retailer and the upstream nature of the identified impacts, we currently focus on strengthening supplier expectations and engagement rather than defining quantitative targets. The effective-ness of our approach is monitored qualitatively through supplier dialogue and ongoing assess-ment of identified impacts and risks.E4Biodiversity and ecosystemsBiodiversity is closely linked to the cosmetics industry, as many products rely on bio-based ingredients. Cultivation of feedstock such as palm oil contributes to land-use change, monocultures and deforestation if not responsibly managed. As Matas Group is indirectly connected to these impacts through our upstream value chain, it is central for us to address these impacts through supplier engagement. E4.IRO-1Process to identify and assess biodiversity-related impacts, risks and dependenciesTo assess biodiversity-related impacts in our own operations, we have screened our stores, offices and warehouse facilities against publicly available biodiversity-sensitive area data. Based on this screening, none of our own or leased locations were identified as being in or near protected areas.IROPolicy*ObjectiveBiodiversity and ecosystem degrada-tion from cultivation of feedstock (N)Supplier Code of ConductEncourage suppliers to consider impacts on biodi-versity and ecosystems and to support responsible sourcing practices, including the use of recognised certification schemes where relevant.Positive impact (P), Negative impact (N), Opportunity (O), Risk (R).*	The policy applies across the Group, is subject to the Group’s governance framework with the EVP Group Commercial responsible for oversight and implementation. The policy is available on www.matasgroup.com.In the upstream value chain, we have assessed impacts related to agricultural feedstock used in cosmetic product formulations, with particular attention to palm oil. The assessment focused on potential links to land-use change and deforest-ation, as well as monitoring evolving regulatory requirements related to deforestation and supply chain transparency. As the impacts orig-inate from the upstream value chain rather than our own sites, we have not consulted affected communities. While the identified biodiversity impact is assessed as a long-term actual negative impact in the upstream value chain, it has not been assessed as giving rise to material financial risks or opportunities for the Group at this stage. We therefore focus our assessment on understanding how sourcing commonly used ingredients may be linked to land-use change and deforestation, and we monitor relevant regulatory developments that may affect sourcing practices across the value chain.E4-1Dependency and resilience considerationsMatas Group has not conducted a dedicated biodiversity resilience analysis. Given the indirect nature of the impact and the absence of biodi-versity-sensitive sites within own operations, biodiversity-related risks are monitored as part of broader ESG and regulatory risk oversight processes.E4-3Actions related to biodiversity and ecosystemsDuring the reporting year, Matas Group updated its Supplier Code of Conduct to further clarify our expectations regarding the protection of biodi-versity and ecosystems. The Code states that we expect our suppliers to consider the impact of their operations on biodiversity, deforesta-tion and surrounding ecosystems. Where natural raw materials are used, we expect suppliers to support responsible sourcing of materials and ingredients, including the encouragement of certified palm oil such as RSPO-certified materials. As in previous years, we continue our dialogue with suppliers of selected in-house brands regarding responsible palm oil sourcing and RSPO certifications where relevant.As the identified biodiversity impact arises in the upstream value chain, our actions are directed towards strengthening supplier expectations and ongoing collaboration rather than estab-lishing measures and targets related to our own operations. We monitor the effectiveness of our approach through continued supplier dialogue and assessment of identified impacts and regula-tory developments.E5Resource use and circular economyResource use and waste management are material considerations in the retail sector due to the materials and packaging required for distribution and store operations. At Matas Group, we work with responsible resource consumption in our own operations and expect our suppliers to support more resource-efficient and circular product design.E5.IRO-1Processes to identify impacts, risks and opportunitiesAs a retailer, Matas Group’s direct resource use relates to materials consumed in our own opera-tions. At the same time, we are connected to the packaging of the products we sell, and the asso-ciated waste generated across the value chain. While cosmetic product packaging represents a significant share of overall resource use in the cosmetic industry, the metrics reported under ESRS E5 cover resource inflows and waste gener-ated within our own operational boundaries and are representing the resource use and circular economy perspective of the omnichannel retail industry.IROPolicy*ObjectiveMaterial and resource use for product distribution (N)Climate and Environmental PolicyImprove resource efficiency in product distribution by applying right-sizing, material optimisation and continuous review of packaging solutions in logistics and e-commerce operations.Waste generated in own operations (N)Reduce waste generated in own operations through material efficiency, optimised packaging use and continuous improvement of warehouse and logistics practices.Material and resource use for product packaging (N)Supplier Code of ConductPromote thoughtful use of materials and recyclable packaging design by setting expectations for resource efficiency and reduced use of virgin materials.Waste generated from sold products (N)Limit waste from sold products by setting expec-tations for recyclable packaging design and clear disposal and recycling guidance for end-of-life treat-ment to consumers.Positive impact (P), Negative impact (N), Opportunity (O), Risk (R).*	The policies apply across the Group, are subject to the Group’s governance framework.The Board of Directors are responsible for oversight and implementation of the climate and environmental policy. The EVP Group Commercial is responsible for oversight and implementation of the Supplier CoC. The policies are available on www.matasgroup.com.The identification of material impacts, risks and opportunities is therefore based on an assess-ment of material inflows and waste streams within Matas Group’s operational boundaries, with particular attention to warehouse and logistics activities that support distribution to stores and online customers. At the same time, we recognise that resource use and waste also occur upstream and downstream in the value chain and consider these aspects in our materiality assessment and our supplier dialogue.E5-2Actions related to resource use and circular economyDuring the reporting year, Matas Group formalised and consolidated its long-standing approach to responsible resource use through the approval of a new Climate and Environmental Policy. The policy reflects established business practices, particularly within warehouse and logistics oper-ations, where we, in recent years, have embedded resource optimisation and efficient material use in our daily operations.In our warehouse and distribution activities, continuous efforts are made to optimise pack-aging volumes, right-size transport materials and reduce unnecessary material use, while ensuring product safety and transport integrity. These practices are part of our operational business model and have been progressively refined over time.The policy further clarifies principles for packaging and resource use in collaboration with suppliers of in-house brands, including mono-material design, separability and the priori-tisation of recycled materials where feasible.In parallel, we have updated our Supplier Code of Conduct to strengthen expectations related to responsible use of resources and circularity. We expect our suppliers to reduce virgin material use, reduce waste and design packaging with recycla-bility and clear disposal guidance in mind.Given that resource optimisation is integrated into our operational model and continuously managed as part of day-to-day activities, our actions focus on structured governance and supplier alignment. Therefore, no separate time-bound quantitative targets have been established. Progress in addressing the identified impacts is monitored through our reported resource inflow and waste metrics, which provide transparency on performance over time.E5-4Resource inflows related to own operationsMatas Group’s resource inflows reflect the mate-rials required to support our retail, warehouse and distribution activities. Our primary opera-tional material inputs consist of cardboard, paper and plastic used for packaging, transportation and delivery of products to stores and online customers. Paper and cardboard used in ware-house operations are procured with FSC certi-fication where relevant, and efforts are made to ensure that we procure resources that contain recycled material, to reduce the use of virgin resources. Currently we do not procure paper and cardboard, that both are recycled and have the FSC certification. As such, double counting has been avoided. The reported resource inflows relate to materials used within the Group’s own operational bound-aries and do not include materials embedded in the products sold, which are addressed as part of value chain considerations. In our value chain we recognise that water, plastic, machines and equip-ment are significant resources to produce the products we sell in our retailers, however, is has not been deemed material inflows for our own oper-ations. As Matas Group operates as a retailer and does not manufacture products, own operational water use is limited, and water has therefore not been identified as a material resource inflow under ESRS E5. Water-related impacts and value chain considerations are addressed under ESRS E3.Year-on-year developmentCompared to the previous year, our paper consumption has increased, primarily driven by a transition made in Matas' logistics operations, where we replaced plastic wrapping solutions to paper bags for selected e-commerce orders. E5-4Procured resourcesResource inflowsUnit2025/262024/25Overall weight of resources procuredTons2,2941,990Share of biological material%9895- of which is certified%8283- of which is recycled%7766Share of technological material%25- of which is certified%00- of which is recycled%948Overall weight of recycled resources procuredTons1,7351,300Overall share of recycled resources procured%7665Accounting policy Resource inflow data covers materials used within Matas Group’s own operations and aligns with the Group’s organisational boundary. Quantitative data is sourced from internal procurement and bookkeeping systems. Information on recycled content and FSC certification is obtained from suppliers of the procured materials.Resource inflows include cardboard, paper and plastics used in retail, warehouse and distribution activities. Materials embedded in products purchased for resale are excluded from this disclosure.The increase is also influenced by Matas' higher procurement volumes of filling paper in prepa-ration for peak season in our new Matas Logis-tics Center, as reporting is based on purchased volumes. As a result, we have reduced our use of plastic by approximately 46%, reflecting the shift towards paper-based alternatives for the selected e-commerce orders.E5-5Waste related to own operationsWaste generated by Matas Group arises primarily from warehouse logistics and retail operations. The most significant waste streams consist of cardboard, paper and plastic generated through goods handling and distribution activities, while waste from stores and administrative offices mainly reflects general operational waste. The reported waste metrics cover waste gener-ated within the Group’s own operational bound-aries and do not include waste generated from sold products at their end-of-life stage. As Matas Group operates as a retailer and does not manu-facture products, the disclosure requirements related to product design, durability, reparability and recyclable content of products placed on the market are not applicable.Year-on-year developmentChanges in waste impacts during the reporting year were primarily driven by expanded reporting scope and specific operational activities.For hazardous waste, increases relate mainly to waste handling at warehouses, inclusion of addi-tional facilities not operational in the prior year, and clean-up activities linked to site closures.For non-hazardous waste, reported volumes reflect both operational waste generation and improved data coverage, including the inclusion of previously unreported waste streams from office and shared facilities.E5-5Waste in own operations Unit2025/262024/25Total wasteTons2,4052,554*Non-recycled wasteTons695733*Share of non-recycled waste%29.028.7*Hazardous wasteTotal waste redirected from disposalPreparation for recycling (reuse)Tons00RecyclingTons1.81.4*Other recovery operationsTons00Total waste disposed offCombustion (incineration)Tons7.25.2*Deposition (Landfill)Tons00Other disposal operationsTons00Non-hazardous wasteTotal waste redirected from disposalPreparation for recycling (reuse)Tons0.50RecyclingTons1,7051,818*Other recovery operationsTons2.81.7*Total waste eliminatedCombustion (incineration)Tons688726*Deposition (Landfill)Tons0.10.3*Other disposal operationsTons01.6*Radioactive wasteTons00Accounting policy Waste data covers waste generated within Matas Group’s own operational boundaries. Data is sourced from contracted waste collectors, facility management systems and internal records. Where direct measurements are unavailable, estimates are applied based on documented waste intensity metrics and available activity data.For stores not registered with contracted waste collectors, waste volumes are estimated using a square-metre intensity approach derived from comparable stores. For entities without complete direct data, esti-mates are based on comparable operations or documented waste handling practices. Approximately 59% of waste impact has been estimated using this approach.All incinerated waste reported is handled as other recovery operations where the incinerated waste is used for energy generation. Hazardous and non-hazardous waste is classified in accordance with data provided by waste contractors.*	Restatement: These figures has been restated as previous years figures were lacking completeness consequently the waste impact on KICKS stores has also been restated. For hazardous waste the amount of recycled waste has changed from 0.38 tonnes to 1.4 tonnes. For combustion there has been a change from 1.80 tonnes to 5.2 tonnes. For non-hazardous waste recycled the figures changed from 1,115 tonnes to 1,818 tonnes. For other disposal operations there has been a change from 0 tonnes to 1.7 tonnes. The total amount of waste eliminated from combustion has changed from 911 tonnes to 726 tonnes. Deposition has changed from 0.15 to 0.3, and other disposal operations from 0.20 tonnes to 1.6 tonnes.S1Own workforceAt Matas Group, our employees are fundamental to delivering our omnichannel retail model and creating value for our customers. As a retail business with direct customer interaction and warehouse logistics activities, ensuring good working conditions – including both physical safety and mental wellbeing – is central to our responsibility as an employer.S1.SBM-3Characteristics of own workforceMatas Group’s own workforce primarily consists of employees working in retail stores, warehouse and logistics operations, and administrative func-tions across the Nordic markets. As a retail and omnichannel business, our operations are charac-terised by seasonal fluctuations and peak trading periods, which require operational flexibility in both stores and warehouse functions.Most employees are employed on permanent contracts. To ensure continuity of operations during peak seasons and periods of increased IROPolicy*ObjectiveWorking conditions and occupational strain for store and warehouse employees (N)Internal employee handbooksEmployee Code of ConductInternal handbook guides to a healthy and safe physical and psychological working environment and Employee Code of Conduct guides to compliant employee behaviour, across all employee groups through clear behavioural expectations, structured health and safety organisation, preventive measures and accessible reporting channels. High employee churn rate and reputational damage (R)Both policies support the reduction of employee turnover and related reputational risks by addressing working conditions, supporting wellbeing and system-atically using employee feedback to inform contin-uous improvements.Positive impact on employee mental health and personal resilience (P)Internal employee handbooksInternal handbooks support employee mental health development through formalising mandatory learning and development processes, including regular devel-opment dialogues.Positive impact (P), Negative impact (N), Opportunity (O), Risk (R).*	The policies apply across the Group and are subject to the Group’s governance framework. The employee CoC is available on www.matasgroup.com. The internal employee handbooks are available on the Group’s intranet. Every employee with management responsi-bility is responsible for overseeing and implementing the internal guidelines, with the SVP People &amp; Culture who are overall responsible for implementation of the guidelines. Our Group Legal Council is responsible of oversight and implementation of our employee CoC. demand, we also employ temporary and non-guaranteed hours employees, particularly within store and warehouse operations. In addi-tion, temporary agency workers may be engaged in warehouse functions to support high-volume logistics activities.The material negative impacts identified in rela-tion to our own workforce primarily concern working conditions. In warehouse operations, this relates to physical health and safety risks asso-ciated with goods handling and logistics activ-ities. In customer-facing retail roles, employees may be exposed to psychosocial risks, including verbal aggression or inappropriate behaviour from customers, which can affect our employees’ wellbeing.We have not identified significant risks of forced labour, compulsory labour or child labour within our own operations or geographical areas of operation.S1-1Health and safety at Matas GroupMatas Group has a workplace accident preven-tion, and health and safety management system based on our work environment organisation. The system provides a structured framework to iden-tify, assess and manage risks related to physical, psychological and social working conditions, with the objective of preventing accidents, injuries and work-related illness.The Group’s human rights commitments rele-vant to its own workforce are described in the section Human Rights Commitment and Process for Remediationon page 108 →. This section also holds the description of the processes for providing or cooperating in remediation.S1-2Engagement with own workforceMatas Group engages directly with employees and through elected worker representatives to understand and manage actual and potential impacts on our workforce. Engagement takes place through formal structures such as work environment organisations, workplace assess-ments (APV), quarterly employee surveys and regular dialogue with trade union and safety representatives.Engagement occurs on an ongoing basis and at defined intervals, including bi-annual meet-ings with work environment representatives and quarterly employee surveys. The SVP for People &amp; Culture, and the People &amp; Culture function holds operational responsibility for ensuring that engagement processes are carried out and that employee perspectives inform relevant decisions and improvements.Employee feedback is systematically reviewed and used to identify workplace risks, prioritise actions and monitor improvements over time. The effectiveness of engagement is assessed through the development of survey results, workplace assessments and ongoing dialogue.Engagement processes apply to all employees, including store and warehouse personnel, ensuring that perspectives from groups poten-tially more exposed to workplace impacts are included.Matas Group does not have a Global Frame-work Agreement at European level, as employee representation is regulated nationally.S1-4 Actions related to own workforceAt Matas Group, our approach to manage the IROs related to our workforce is anchored in our ESG strategy ambition of Pioneering mental health. We aim to be a vocal champion of customer and colleague wellbeing by fostering a healthy vision of beauty and creating attractive workplaces where employees can develop and grow. Our actions therefore focus on proactively strength-ening mental wellbeing, safe working conditions and inclusive employment practices across the Group.Scaling mental health training across the GroupDuring the reporting year, Matas Group further strengthened its approach to employee wellbeing by developing and commencing the roll-out of a new digital mental health training programme across the Group, supported by physical learning materials and a buddy scheme. Building on the tools and principles of our existing in-person training, the digital format is designed to create a scalable and consistent positive impact across markets. The roll-out began during the financial year and will continue into the next, with the ambition to cover more than 6,000 employees across Matas Group markets.Mental health training and development remains a cornerstone of our approach to Matas Group’s own workforce. Since 2023, we have continued to strengthen this offering to support employee wellbeing, resilience and personal development. The programme constitutes a positive impact on our own workforce as it goes beyond traditional job-specific training and equips employees with tools that support mental health and wellbeing more broadly. These tools can be applied not only in the workplace, but also in employees’ private lives, thereby supporting the individual as a whole rather than solely in their professional role. As such, the programme is intended to contribute positively to long-term wellbeing both at work and beyond the workplace. Strengthening leadership through listening-based trainingDuring the reporting year, KICKS implemented a certified training programme in listening-based leadership for all store managers across Sweden, Norway and Finland. The programme strengthens leaders’ ability to recognise early signs of stress, facilitate trust-based dialogue and respond constructively to employee concerns. By focusing on attentive and responsive leadership practices, the initiative supports the creation of psycho-logically safe work environments. The training forms part of our broader ambition to strengthen mental wellbeing and resilient leadership across the Group.Continuing focus on health and safetyFurthermore, we have strengthened our efforts to support a resilient working environment, through ongoing health and safety activities across the organisation. This includes continued annual health and safety training, regular dialogue and collaboration within the working environment organisation, and ongoing efforts to identify and address relevant working environment and safety matters. As a result, we have seen an increase in the reported incidents, as our employees are strongly encouraged to report any incidents, also in the event that they themselves perceive the incidents minor and neligible. The activities performed during the financial year support our continuous focus on maintaining appropriate structures for managing workplace wellbeing, health and safety across the Group and focuse on the mitigation of the identified negative impact and the risk of employee churn and reputational damage.Resources allocated to management of material impactsActions addressing material impacts on our own workforce are embedded in Matas Group’s oper-ational and management practices. Mental health training has been integrated into our overall approach to employee development across the Group. No additional significant resources were allocated during the financial year, as these actions are managed within existing organisa-tional structures and processes.Tracking the effectiveness of our actionsThe effectiveness of our actions is monitored through quarterly third-party employee satis-faction surveys and Net Promoter Score (NPS) measurements linked to our mental health training programmes. The surveys are designed to assess outcomes related to the identified impacts and risks, and results are systematically reviewed to identify negative outliers and inform corrective actions where needed.S1-5Targets related to own workforceAs part of our ESG strategy ambition to Pioneer mental health, we have defined two targets related to employee wellbeing and mental resil-ience: A mental health training satisfaction target and an employee engagement target. These targets are intended to address identified nega-tive impacts and support positive impacts on working conditions. Both targets are designed as maintenance targets, with the objective to sustain performance at or above defined levels over time, and are used as management tools to track progress.Progress against targetsPerformance in the reporting year exceeded the defined minimum levels for both targets. As such, we received a score of 76 in the employee engagement survey and 66 on our NPS score. Employee satisfaction with mental health training is assessed using the NPS methodology, where employees rate each training module upon completion. Performance is measured annually as the average NPS across all completed modules during the financial year. Employee engagement is used to monitor how employees perceive their mental health and wellbeing. Sustained perfor-mance at these levels over time is used to assess whether the training and initiatives remain rele-vant to employees.Employee engagement survey target70in employee engagement survey score in annual mental health assessments by FY 2027/28.The scope of the target covers employees across Matas and KICKS. This target supports the mitigation of identified negative impacts and risks related to psychosocial working conditions.Mental health training satisfaction target50 NPSon average a yearly Net Promoter Score on mental health training programs by FY 2027/28.The target applies to employees who have completed mental health training. As the programme expands, the target population will grow year by year. It supports the iden-tified positive impact on working conditions and employee wellbeing.S1.MDR-TMental health targetsTarget2025/26Baseline yearBaseline scoreTarget yearTarget year scoreProgress against targetEmployee engagement - Achieve an annual Mental Health Score of 70762024/2502027/2870108%Mental health training - Receive an annual Net Promoter Score of 50662024/25652027/2850132%S1Ent. Spec. 1 mental health training NPS scoreUnit2025/262024/25Net Promoter Score on mental health trainingScore6665S1Ent. Spec. 2 employee engagement survey scoreUnit2025/262024/25Annual score on mental health engagement surveyScore760Accounting policyThe NPS score is measured as the average NPS score, based on all mental health training programmes for the reported year. The Engagement Survey score is measured based on Matas Group's annual engagement survey that includes mental health questions. S1-6Employee headcount by genderGenderUnit2025/262024/25MaleHeadcount428526FemaleHeadcount5,8065,717OtherHeadcount00Not reportedHeadcount00Total employeesHeadcount6,2346,243S1-6Employee headcount by countryCountryUnit2025/262024/25Denmark incl. Faroe Islands and GermanyHeadcount3,4363,533SwedenHeadcount1,6621,701NorwayHeadcount817762FinlandHeadcount319247Total employeesHeadcount6,2346,243S1-6Headcount by contract type and gender2025/262024/25Contract typeUnitFemaleMaleOtherNot disclosedTotalFemaleMaleOtherNot disclosedTotalNumber of permanent employeesHeadcount4,222370004,5924,097475004,572Number of temporary employeesHeadcount88547009329533000983Number of non-guaranteed hours employeesHeadcount69911007106672100688Total number of employeesHeadcount5,806428006,2345,717526006,243S1-6Employee turnoverUnit2025/262024/25Employee turnover ratio%38%35%Employee turnoverHeadcount2,3732,203Accounting policies Headcount The total number of employees, including all contract types, excluding interns and consultants. The data reflects Matas Group headcounts as per 31 March 2026. The most representative number found in the finan-cial statement is FTE disclosed. This can be found in the section '5-year key financials', page 14.Employee contract types Employees on permanent contracts include all employees without an end-date. Employees on temporary contracts include all employees on time-bound contracts. All our Matas' materialist students and employees under the age of 18 are by default registered as time-bound contracts, as per national law in Denmark. Non-guaranteed hours are employees employed on an hourly basis. The data reflects Matas Group head-count, per contract type as per 31 March 2026. Number of people who have left Employees who have voluntarily left, been dismissed, retired, or died, excluding interns and consultants. The data is aggregated for the full financial year 2025/26.Turnover Turnover is calculated by the number of people who have left, aggregated for the full financial year, divided by the total reported headcount.S1-8Collective bargaining and social dialogueCollective bargaining coverageSocial dialogueCoverage rateEmployees – EEA (for countries with &gt;50 empl. representing &gt;10% total empl.)Employees – Non-EEA (estimate for regions with &gt;50 empl. representing &gt;10% total empl)Workplace representation (EEA only)(for countries with &gt;50 empl. representing &gt;10% total empl)0-19%20-39%40-59%60-79%Denmark80-100%Sweden, Norway, FinlandDenmark, Sweden, Norway, FinlandAccounting policies Collective bargaining agreements Percentage of all types of employees covered by bargaining agreements. Number of headcounts covered by collective bargaining agreements, divided by total number of headcounts. Workers’ representatives Percentage of employees covered by workers representatives. Number of headcounts represented by workers representatives, divided by total number of headcounts. Workers’ representatives include trade union representatives and other work representatives that are elected by the workers of the Group, as part of their engagement in the work environment organisation.S1-9Employee by age group2025/262024/25UnitDenmark*SwedenNorwayFinlandTotalDenmarkSwedenNorwayFinlandTotalEmployees under 30 years oldHeadcount2,0708515432393,7032,2729134821813,848Employees between 30 and 50 years oldHeadcount917601212741,804858601211621,732Employees over 50 years oldHeadcount449210626727403187694663Accounting policiesEmployee by age group Employees by age group by 31 March 2026.* Matas Group employees from Faroe Islands and Germany are included in DenmarkS1-9Gender distribution at top management levelExecutive Management Team - §107fUnit2025/262024/25Total number#67Female#33Male#34Share of female%5043Accounting policies Gender distribution at top management level Share of women based on number of women at each level, divided with the total number of members at each level. Matas Group Executive Management Team is the Group's top management level and consists of the Group CEO, Group CFO and EVPs across Group business functions and Matas and KICKS banners. For more information on the Executive Management Team, see page 45-46 →in the section 'Corporate governance'. S1-10 Accounting policiesAdequate wages All Matas Group employees are paid an adequate wage, in line with applicable benchmarks. For applicable benchmarks, the national benchmarks are applied to our assessment using the WageIndicator Foundation.S1-14Health and safety management systems, fatalities, accidentsHealth and safetyUnit2025/262024/25Percentage of own workforce covered by the health and safety management system%100100Number of fatalities in own workforce #00Number of fatalities other workers#00Number of work-related accidents#10652Rate of recordable work-related accidentsIncidents per million hours16.37 8.03Accounting policies Health and safety management systems Percentage of employees covered by Matas Group’s health and safety management systems, as described under S1-1 (health and safety management system). Number of headcounts covered by health and safety management systems, divided by total number of headcounts. Fatalities include the number of Matas Group employees and contracted employees not considered a Matas Group employee, who have lost their lives because of a work-related incident at Matas Group. Accident number and rate of registered work-related accidentsNumber of recorded accidents recognised as work-related incidents occurring in connection with activities performed on behalf of the Group as an employer. Includes accidents reported that does not lead to working days lost, as well a lost time accidents, resticted work accidents, and injuries beyond first aid. Rate is calculated by dividing the number of accidents, by the total number of hours worked, based on the number of FTEs in Matas Group's workforce, and then multiplied by 1 million.S1-16Gender pay gap, Group CEO remuneration ratioPay gapUnit2025/262024/25Gender pay gap%32.137.7*Note: Annual total remuneration ratio is disclosed on our Remuneration Report.Accounting policies Gender pay gap Gender pay gap is calculated as the difference in average gross hourly pay between male and female across Matas Group. Gross hourly pay is calculated in local currency for each market and subsequently converted to DKK for consolidation. The gender pay gap is expressed as the difference between average female and male pay, divided by average male hourly pay.*	Restatement: We have restated the 2024/25 figures after improving our methodology. We have previously calculated the ratio based on a months pay and extrapolated to a full year. Now the ratio is based on a full year. S1-17Incidents, complaints and severe human rights impactsIncidents and complaintsUnit2025/262024/25Number of incidents of discrimination#00Number of complaints through own channels to raise concerns#145*Number of complaints through National Contact Points for OECD Multinational Enterprises#00Total number complaints#145*Total amounts of compensation, fines and penalties from registered complaints/casesDKK00Number of human rights issues and incidents connected to own work force#00Number of human rights incidents subject to breach of UNGP and OECD guidelines#00Total amounts of compensation, fines and penalties from registered human rights incidents.DKK00Accounting policies Incidents and complaints The total number of incidents of discrimination, including harassment, the number of complaints filed through channels for Matas Group employees to raise concerns (Whistleblower Scheme) aggregated in the financial year 2025/26 and the total amount of fines, penalties, and compensation for damages as a result of the incidents and complaints disclosed, and a reconciliation of such monetary amounts.*	Restatement: We have restated the 2024/25 figures as we are now including all complaints through our whistleblower scheme and not only whistleblower compliant complaints. Last years reported complaints was 0, and is now 5. S2Workers in the value chainAt Matas Group, we are connected to workers in our value chain through our commercial relationships with a broad supplier base. Respect for fundamental human and labour rights is a prerequisite for doing business with us. Through clear expectations and ongoing supplier dialogue, we seek to use our leverage to support responsible practices across our value chain.As a retailer, potential impacts on value chain workers primarily arise upstream in the supply chain. Our understanding of where value chain workers may be at greater risk of harm is based on the type of activity performed, the sourcing context and known upstream labour rights risks. It is developed through supplier dialogue as well as external media coverage and publicly avail-able NGO reports and is used to prioritise areas for enhanced attention. The impacts we have identified are linked to early stages of raw mate-IROPolicy*ObjectivePoor working conditions in the upstream value chain (N)Supplier Code of Conduct**Promote fair and safe working conditions and respect for human and labour rights in the upstream value chain by setting clear supplier expectations and encouraging enhanced due diligence in higher-risk sourcing areas.Work-related rights in the raw materials extraction phase (N)Positive impact (P), Negative impact (N), Opportunity (O), Risk (R).*	The policy applies across the Group, is subject to the Group’s governance framework with the EVP Group Commercial responsible for oversight and implementation. The policy is available on www.matasgroup.com.**	The policy is aligned with relevant international frameworks. See section ‘Matas Group’s Human Rights Commitment and process for remediation’ for further details.rial extraction and processing, where working conditions and labour rights risks are generally higher and where our direct operational control is limited. Our exposure to these impacts is driven by our sourcing structure and reliance on multi-tier supplier networks rather than individual business relationships. While we acknowledge that there are inherent risks of severe labour rights violations, including child labour, particu-larly in early stages of raw material extraction and processing in higher-risk sourcing regions, including parts of the Global South where labour rights risks are more prevalent, we have not identified any specific instances or substantiated cases directly linked to our products or suppliers during the reporting period. These risks are considered systemic to the industry and primarily relate to upstream tiers of the value chain where visibility is limited. We address these risks through supplier requirements, ongoing dialogue and internal capacity-building supported by our due diligence platform.S2-2Engagement with value chain workersWe engage with value chain workers primarily through structured supplier dialogue and estab-lished due diligence frameworks, reflecting our position as a retailer with limited direct access to workers in upstream tiers of the value chain. Engagement therefore takes place through cred-ible proxies with insight into workers’ conditions and perspectives, through our membership of amfori BSCI and dialogue with our suppliers.These engagement channels provide insight into actual and potential impacts related to working conditions and labour rights in the value chain and are used to inform our expectations towards suppliers and our prioritisation of risks. We periodically assess whether our engagement approach remains appropriate, considering risk levels and developments in the supply chain.Processes for raising concerns and for providing or cooperating in remediation related to material human rights impacts are described in the Group’s Human Rights and Remediation section of this Sustainability Statement, where we also report on severe human rights issues and incidents we have reported in the reporting year, on page 108 →.S2-4Actions related to workers in the value chainDuring the reporting period, we have further inte-grated relevant in-house brand suppliers into our existing human rights due diligence setup, where this is assessed to be relevant based on supplier characteristics and risk considerations. The action is ongoing and forms part of our long-term approach to responsible supply chain manage-ment.Matas Group has not set time-bound or outcome-oriented targets specifically addressing negative impacts on workers in the value chain. Given the complexity of multi-tier supply chains and limited direct visibility in upstream working conditions, we continue to focus on strengthening our due diligence and engagement processes before establishing quantitative targets.The effectiveness of our approach to mitigate the impacts identified is assessed qualitatively through ongoing supplier dialogue and insights available through our due diligence framework. S4Consumers and end-usersMatas Group serves a broad and diverse consumer base across Denmark, Sweden, Norway and Finland. Through our product assortment, customer guidance and digital communication, we influence how consumers understand and use the products we sell. We therefore recognise our responsibility to ensure that our product information, communication and data practices are transparent, compliant and safeguard consumer trust and wellbeing.As a retailer, potential impacts on consumers and end-users primarily arise in our own oper-ations and downstream value chain. These impacts relate to the clarity and substantiation of product information and claims, the quality of guidance provided in our stores and online, and the processing of personal data in our loyalty programmes. Our exposure is driven by the breadth of our product portfolio, the scale of our consumer touchpoints across phys-ical and digital platforms, and the volume of personal data processed through Club Matas and IROPolicy*ObjectiveIncomplete, unclear or misleading product information and claims can potentially impact consumers ability to make informed choices. (N)Supplier Code of Conduct**Ingredient Policy for in-house brandsThe Supplier Code of Conduct promotes accurate and compliant product information by requiring suppliers to comply with applicable product safety and labelling legislation and to provide transparent documentation for product ingredients, usage and claims.Incomplete, unclear or misleading product information and claims can lead to reputational damage. (R)The Supplier Code of Conduct promotes consumer trust by setting clear expectations for substantiated product, nutrition, health and environmental claims, and by requiring suppliers to provide documenta-tion upon request. Our Ingredients Policy promotes consumer trust by prioritising third party certifica-tions to enable better product guidance. Consumer health and safety risk arising from complex product use and external influence on consumption behaviour. (N)Both policies set requirements for product safety compliance, age-appropriate product use and trans-parent ingredient communication, and by evaluating controversial or debated ingredients beyond minimum legal requirements where relevant. The Ingredients Policy addresses the Group's in-house brands and the Supplier Code of Conduct adressess all other external brands for sale. Reputational damage from insufficient consumer guidance amid social media influence. (R)Both policies mitigate reputational risks related to consumer guidance by setting requirements for supplier transparency and documentation on product safety, ingredients and claims.Exposure of sensitive customer data from Matas Group's retail loyalty clubs. (N)Data Privacy Policies**Data Ethics Policy**Both policies safeguard customers’ personal data by ensuring lawful, transparent and ethical processing of customer information in the Group’s loyalty programmes, in line with data protection regulation.Regulatory fines and reputational damage arising from potential data security breaches. (R)Both policies reduce the risk of regulatory non-com-pliance and reputational harm by applying clear data governance principles, defined responsibilities for data protection, and ethical standards for the use of personal data across the Group.Positive impact (P), Negative impact (N), Opportunity (O), Risk (R).*	The policies applies across the Group, and are subject to the Group’s governance framework. The Supplier CoC is available on www.matasgroup.com. The Ingredients Policy is an internal policy. The EVP Group Commercial is responsible for oversight and implemen-tation of both policies.Data Privacy Policy and Data Ethics Policy are available on Matas Group’s e-commerce sites with Matas Group’s Legal Council responsible for oversight and implementation. **	The policies are aligned with relevant international frameworks. See section ‘Matas Group’s Human Rights Commitment and process for remediation’ for further details. KICKS Club rather than by isolated incidents. In assessing these impacts, we consider different groups of consumers and end-users, including those relying on clear product information to make informed choices, members of our loyalty programme whose personal data is processed, and consumers influenced by digital trends and social media. Certain groups, such as younger consumers or individuals with specific skin types or sensitivities, may be more exposed to risks related to product use or misleading informa-tion. This understanding is informed through ongoing customer interactions across stores and customer service channels, as well as moni-toring of consumer behaviour and emerging trends, including those driven by social media. We address these matters through structured product governance, supplier requirements, employee training and defined data governance frameworks.S4-2Engagement with consumers and end-users Our customers are one of the Group’s most important stakeholders, and engagement with them is crucial for the Group’s continued success. Our EVPs are overall responsible that every business function that serves a consumer touch point carries out a respectful engagement with customers. Our primary engagement with consumers and end-users takes place through direct interaction in stores, customer service functions and digital platforms. Through these channels, we maintain continuous dialogue with consumers regarding product use, ingredient-related concerns, membership services and data processing prac-tices.This engagement provides insight into how product information is perceived in practice, where clarification may be required and how expectations regarding safety, transparency and privacy evolve over time. Feedback from these interactions is systematically communicated internally and contributes to adjustments in product communication, training priorities and digital interfaces.Our human rights commitments relevant to consumers and end-users are described in the section Human Rights Commitment and Process for Remediationon page 108 →. This section also holds the description of the processes for providing or cooperating in remediation. During the reporting period, no cases requiring reme-diation in relation to material consumer impacts were identified.S4-4Actions related to consumers and end-usersManaging impacts related to consumers and end-users is embedded in our strategy and oper-ational governance and represents the first pillar and defined focus area within our ESG strategy: Never compromise on safety. Our approach is preventive and centred on ensuring that the products we offer are supported by accurate and substantiated product information, and reliable and safe product guidance.Product transparency and safetyWe want to ensure that the customers we serve perceive us as the preferred shopping destination with trusted products, safe advice and ingredi-ents transparency, by giving them high-quality information and expertise about the products we sell. This is supported through structured product governance, training of our employees in product knowledge and guidance, prioritisation of rele-vant certifications for in-house brands and clear supplier requirements to ensure accurate and substantiated product information.TrainingA central element of our approach is the continuous development of consumer-facing employees. Store advisors and other custom-er-facing staff receive ongoing training in ingredient knowledge, allergen awareness and responsible product use. This training enables employees not only to explain product benefits and ingredients but also to listen to individual customer needs and guide them towards prod-ucts suited to their specific hair type, skin type, sensitivities and personal preferences.Responsible guidance for younger consumersDuring the reporting year, KICKS launched a “Skin care for young people” campaign aimed at promoting age-appropriate skincare routines and counteracting trends driven by social media. The campaign highlighted that certain skincare products promoted online may not be suitable for young skin and encouraged dialogue with store advisors before purchase. This activity aims to mitigate the negative impact of social media-driven skincare trends by guiding our customers toward age-appropriate routines and advisor-led product choices to reduce misuse and adverse reactions. It is part of an ongoing series of measures introduced in recent years to counter misinformation and protect vulnerable consumer groups, including children and young adults.Third party platformsWe have further strengthened our focus on ingredient transparency through recognised third-party platforms. In Denmark, our in-house brand products are registered in KemiLuppen, enabling consumers to access verified ingredient information in a user-friendly and comparable format. This supports informed decision-making in a consumer goods category characterised by complex ingredient lists and varying levels of consumer understanding. Ingredients Policy for in-house brands For our in-house brands, the Ingredients Policy was updated during the reporting year to further strengthen the criteria for which ingredients we allow in the in-house brand portfolio, but also which certifications the products priori-tise. Where relevant, these criteria may exceed minimum legal requirements, thereby reinforcing product safety and transparency at formulation stage and supporting clear communication of ingredient-related considerations.We prioritise recognised third-party certifications for relevant in-house brand products, including the Nordic Ecolabel, Asthma-Allergy Nordic and Allergy Certified. These certifications provide independent verification of product character-istics and support clear, substantiated commu-nication towards consumers, reducing the risk of misunderstanding or unsubstantiated claims.By combining structured ingredient transpar-ency with recognised certification schemes, we enhance product clarity, strengthen consumer trust and support our ambition of ensuring comprehensive ingredient transparency for in-house brand products by 2027/28.Supplier expectations and Code of ConductIn addition, we have strengthened our supplier requirements to product information and claims. Through our updated Supplier Code of Conduct, suppliers are required to ensure that health and sustainability claims comply with applicable legislation and are supported by appropriate documentation. Increasing supplier adherence to the principles of the updated Code remains a strategic priority and supports consistent docu-mentation standards across the assortment, with full alignment targeted by 2027/28.Data privacy and securityData privacy and security are governed through our Privacy and Data Ethics Policies, with over-sight by Group Legal and IT. In the reporting year, we have continued to ensure quarterly employee training in data protection and cyber security, supported by internal testing to strengthen preparedness against cyber threats. These meas-ures aim to safeguard customer data and mitigate regulatory and reputational risk.Resources allocated to management of material impactsActions related to product transparency, consumer guidance and data protection are inte-grated into our operational management struc-tures, including supplier management processes, training programmes and IT governance. Resource allocation therefore forms part of ongoing busi-ness operations rather than stand-alone sustain-ability initiatives.S4-5 Targets related to consumers and end-users As part of our ESG strategy, Never compromise on safety, we have established targets aimed at advancing product transparency and ensuring that consumers have access to reliable and substantiated product information.In-house brand ingredient transparencyThe target reflects our ambition to provide clear and accessible ingredient information across the full range of in-house brand products. The target focuses on the third-party app, KemiLuppen. The app helps consumers to avoid unwanted chemicals, such as endocrine disruptors and ingredients that can cause allergenes. In 2025/26 in-house brands represented 12% of the Group's total revenue. Supplier Code of ConductThe target aims to ensure that our suppliers adheres to the principles of the Code and by this, ensures that all other products we have for sale have compliant, consistent and reliable product information, while maintaining high standards for product safety.Progress against targetsDuring the reporting year, we continued to make progress across both of our product transpar-ency and supplier code of conduct targets. Coverage of in-house brand products with updated ingredient information available through Kemiluppen increased from 60% in the baseline year to 70% in 2025/26, supporting our ambition to make product information more transparent and accessible to customers. At the same time, the share of suppliers committed to our Supplier Code of Conduct increased from 51% to 65%, reflecting continued supplier onboarding activ-ities. Together, the targets are used to monitor progress in strengthening product transparency across the Group’s available products.Product transparency target100%in-house brands (in scope) have high quality product information available to consumers by FY 2027/28.In the baseline year, 60% of in-house brand products were covered by ingredient trans-parency solutions. During 2025/26, coverage increased to 70%, reflecting our continued progress towards better transparency.Supplier code of conduct target100%of suppliers (in scope) committed to Supplier Code of Conduct by FY 2027/28.In the baseline year, 51% of suppliers were committed to the Code of Conduct. During 2025/26, this increased to 65%, reflecting ongoing supplier onboarding and alignment.S4Ent. Spec. 1 In-house brands quality informationUnit2025/262024/25Share of in-house brands with third-party ingredients platforms%7060S4Ent. Spec. 2 Supplier Code of ConductUnit2025/262024/25Share of suppliers that has committed to the Group's updated CoC%6551S4.MDR-T Consumers and end-users targetTarget2025/26Baseline yearUnitBaseline scoreTarget yearTarget year score100% of our in-house brand products, in scope, have high-quality ingredient information to consumers through third-party ingredient platforms702024/25%602027/28100100% of our suppliers, in scope, have committed to the Group's Supplier Code of Conduct652024/25%512027/28100Accounting policies Entity specific target 1 – In-house brands quality informationThe share of in-house brand products covered by third-party ingredient platforms is calculated as the number of in-house brand products registered on recognised ingre-dient transparency platforms (KemiLuppen) divided by the total number of in-house brand products requiring ingredient disclosure.Products that do not require ingredient lists (e.g., certain accessories or equipment) are excluded from the calculation. The metric is based on internal product master data and registration status as of year-end.Entity specific target 2 – Supplier Code of ConductThe share of suppliers that has formally accepted the Group's Code of Conduct is calcu-lated based on the suppliers who have committed to the principles of the Code, and therefore has it as part of their contractual agreement with Matas Group. Suppliers are considered committed once formal acceptance has been documented. The population excludes suppliers that are no longer active during the reporting year.Matas Group’s Human Rights Commitment and process for remediationWe respect internationally recognised human rights and are committed to preventing, miti-gating and, where necessary, remediating adverse impacts on people connected to our business. Our commitment covers the following areas and applies to our own employees, workers in our value chain and consumers and end-users:Freedom of association and collective bargainingProhibition of forced labour, child labour and human traffickingNon-discrimination and equal opportunitiesProtection against harassment and bullyingSafe and healthy working conditionsAnti-corruption and business integrityThese human rights commitments are anchored in our Human Rights Policy and implemented through relevant policies, including our Supplier Code of Conduct →, Diversity Policy→,Data Privacy Policy →and Data Ethics Policy →, which are described in the relevant topical sections and publicly available online at matasgroup.com/governance/policies →. Non-discrimination, equal opportunities and protection against harassment are supported by Matas Group’s Diversity Policy→, which outlines the principles and protected char-acteristics covered in accordance with applicable legislation. Our Human Rights Policy is aligned with internationally recognised standards, including the UN Guiding Principles on Business and Human Rights and the ILO core conventions. The relevant supporting policies are designed to reflect these principles where relevant to their scope.Common approach to remediationAcross the Group, we apply a consistent approach to identifying, assessing and addressing adverse impacts related to human rights. Where we cause or contribute to a negative impact, or where we are directly linked to such impacts through our business relationships, we seek to provide or cooperate in remediation in line with the UN Guiding Principles on Business and Human Rights and the ILO core conventions. Our remediation process is coordinated by the Group Legal function in close collaboration with relevant internal functions and follows three key steps:1.	Assess the impact and identify affected stake-holders2.	Understand the incident by mapping causes and contributing factors3.	Initiate corrective actions to address the impact and reduce the risk of recurrenceThe effectiveness of our remediation mechanisms is monitored through ongoing review of reported cases and the use of available reporting channels.Reporting channels and protection against retaliationWe operate a third-party Whistleblower Scheme that allows employees, value chain workers, consumers and other stakeholders to raise concerns anonymously or non-anonymously. The Whistleblower Scheme is publicly available on our website and internally communicated as part of onboarding and ongoing awareness efforts.All reports made in good faith are protected against retaliation. Where the identity of the reporting person is disclosed, confidentiality is ensured to the highest extent possible. Protec-tion against retaliation is further ensured and described in our Whistleblower Policy.Application across stakeholder groupsOwn workforceEmployees can raise concerns through multiple channels, including their manager, HR, health and safety representatives and the Whistleblower Scheme. Issues are tracked and followed up by People &amp; Culture and Group Legal to ensure appropriate handling and remediation.Workers in the value chainWe expect suppliers to have grievance mech-anisms in place and to escalate serious human rights concerns. Value chain workers and other external parties may also use our Whistleblower Scheme. Identified issues are addressed through supplier dialogue, corrective action plans and, where necessary, further due diligence measures.Consumers and end-usersConsumers may raise concerns related to data protection, product safety or other matters through our Whistleblower Scheme or relevant customer channels. Reported incidents are assessed and addressed following the same structured remediation process, with oversight by Group Legal.Oversight and continuous improvementGroup Legal is responsible for overseeing the implementation and effectiveness of remediation processes across stakeholder groups. We peri-odically assess whether reporting channels are known, accessible and trusted, and use insights from reported cases to improve our processes and controls over time.As reported in S1-17, no human rights breaches in relation to own workforce, workers in the value chain and consumers and end-users have been reported during the financial year 2025/26.G1Business conductAs a we operate across markets, brands and functions, consistent business conduct is essential to ensuring that we act as one organisation. Strong governance structures and shared standards support cultural alignment across stores, logistics and Group functions, and underpin the trust of employees, suppliers and customers.ESRS 2 GOV-1The role of the administrative, management and supervisory bodiesMatas Group’s administrative, management and supervisory bodies play a central role in ensuring responsible business conduct across the Group. Accountability, reporting lines and governance structures are defined within our corporate governance framework. A detailed description of the roles, responsibilities and competencies of the Board of Directors, the Executive Committee (CEO/CFO) and relevant committees is provided in the Corporate Governance section on page 39 →. IROPolicy*ObjectivePoor and unhealthy corporate culture impacting employee behaviour and satisfaction negatively (N)Employee Code of ConductWhistleblower PolicyThe Employee Code of Conduct promotes a consistent and responsible corporate culture by defining clear behavioural standards and ethical prin-ciples that support integrity, transparency and cultural alignment across the Group. The Whistleblower Policy provides trusted channels to report concerns, enabling the Group to adress potential misconduct affecting corporate culture. High employee churn rate and reputa-tional damage because of unmanaged corporate culture (R)The Employee Code of Conduct strengthens employee trust and accountability by ensuring clear governance of business conduct, and the Whistle-blower Policy provides protection against retaliation and a structured oversight of reported concerns.Positive impact (P), Negative impact (N), Opportunity (O), Risk (R).*	The policies apply across the Group, are subject to the Group’s governance framework. Our Group Legal Council is responsible of over-sight and implementation of the policies. The policies are available on www.matasgroup.com.G1.IRO-1Processes to identify impacts, risks and opportunitiesWe have identified and assessed impacts, risks and opportunities related to business conduct as part of our Group-wide risk and compliance framework. The assessment reflects our position as a Nordic omnichannel retailer operating across multiple markets, store formats, logistics centres and Group functions. In addition to traditional compliance risks, our analysis places particular emphasis on organisational integration and, as a result, our shared corporate culture. As a Group consisting of multiple entities, align-ment of governance structures and behavioural standards across markets is essential to ensure operational consistency and shared values. The assessment therefore considers how integra-tion processes and organisational change may influence employee behaviour, engagement and workplace culture across the Group.Business conduct risks are assessed considering our integrated Group structure and evaluated in terms of potential operational disruption, reputational exposure and financial implications, reflecting the importance of stable supplier relationships and consistent standards across markets. IROs related to corporate culture, including potential impacts from the integration of two organisations, are addressed through ongoing collaboration in cross-market teams and embedded in daily operations. Based on this, we have not established separate actions or targets for these IROs.G1-1Framework for business conduct and ethical standardsAs a Nordic Group, we rely on a shared govern-ance framework to ensure consistent standards of conduct throughout the organisation. Following the acquisition of KICKS and the continued inte-gration of business functions at Group level, our Employee Code of Business Conduct serves as a formalised foundation for aligning behaviours, expectations and compliance practices across our entities and markets.The Code defines clear expectations regarding conflicts of interest, anti-corruption, competi-tion law compliance and respectful workplace conduct, ensuring that our employees operate under the same standards irrespective of geog-raphy. The Code is embedded in our onboarding processes and forms part of our broader compli-ance structure, reinforcing a consistent approach to business conduct across the Group. Oversight of business conduct matters is anchored in the Compliance Steering Group chaired by the General Counsel, providing struc-tured monitoring and governance oversight at Group level. Corruption and bribery risks are assessed as low across our retail operations, and no specific functions are identified as being exposed to elevated risk. As such, all employees are considered to be exposed equally.Whistleblower Scheme as part of our governance frameworkWe operate a Group-wide Whistleblower Scheme as part of our overall governance and compliance framework. The scheme supports an open and responsible corporate culture and serves as a structured mechanism for promptly, independently and objectively identifying and addressing serious misconduct or breaches of our Employee Code of Business Conduct.The scheme is available to employees and relevant external stakeholders and allows concerns to be raised confidentially and, where preferred, anon-ymously. All reports are assessed and handled by the General Counsel, ensuring an independent review and appropriate follow-up.The General Counsel reports quarterly to the Audit Committee and Board of Directors on the number and nature of cases received, supporting transpar-ency and oversight at the highest governance level across the Group. Protection against retaliation is embedded in our framework, and individuals who raise concerns in good faith are safeguarded in accordance with our Whistleblower Policy.G1-2Management of relationships with suppliersAs a retailer, we depend on long-term and reli-able supplier partnerships. Supplier relation-ships are managed based on clear contractual expectations and ongoing dialogue. All new suppliers are required to adhere to Matas Group’s Supplier Code of Conduct, which forms part of the contractual framework and sets minimum requirements for ethical business conduct, social responsibility and environmental protection. Where deviations are identified, we prioritise dialogue and corrective action. In cases of serious or repeated non-compliance, termination of the relationship may be considered.This approach reflects our dual responsibility as a retailer: To set clear expectations while main-taining constructive and professional supplier relationships that support stable product supply across our markets.GOV-4Statement on due diligenceBelow table provides an overview of Matas Group's due diligence process as reflected in our Sustainability Statement.Core elements of due diligenceParagraphs in the Sustainability StatementPagea)	Embedding due dili-gence in governance, strategy and business modelGOV-2Information provided to and sustainability matters addressed by the undertaking's administrative, manage-ment and supervisory bodies57GOV-3Integration of sustainability-related performance in incentive schemes57SBM-3Material impacts, risks and opportunities and their inter-action with strategy and business model59b)	Engaging with affected stakeholders in all key steps of the due diligenceSBM-2Interests and views of stakeholders58IRO-1Description of the process to identify and assess mate-rial impacts, risks and opportunities64S1-2Engagement with own workforce94S2-2Processes for engaging with value chain workers102S4-2Processes for engaging with consumers and end-users104c)	Identifying and assessing adverse impactsIRO-1Description of the process to identify and assess mate-rial impacts, risks and opportunities (E1 IRO-1, E2 IRO-1, E3 IRO-1, E4 IRO-1, E5 IRO-1, SI IRO-1, S2 IRO-1, S4 IRO-1, G1 IRO-1)64d)	Taking actions to address those adverse impactsE1-3Actions and resources related to climate change69S1-4Actions and resources related to own workforce94S2-3Processes to remediate negative impacts for value chain workers108S2.MDR-aActions in relation to workers in the value chain102S4-4Actions in relation to consumers and end-users105e)	Tracking the effective-ness of these efforts and communicatingS2-3Processes to remediate negative impacts for value chain workers108S4-3Process for remediation of negative impacts on consumers and end-users108IRO-2Disclosure requirements in ESRS covered by the undertaking’s Sustainability StatementDisclosure requirements in ESRS covered by the Sustainability StatementDisclosure requirementPage■ESRS 2General disclosuresBP-1 General basis for preparation of sustainability statements54BP-2 Disclosures in relation to specific circumstances54GOV-1 The role of the administrative, management and supervisory bodies56GOV-1, 21 aNumber of executive and non-executive members39GOV-1, 21 bInformation about representation of employees and other workers39GOV-1, 21 cInformation about members' experience relevant to sectors, products and geographic locations of undertaking41GOV-1, 21 dPercentages of members of administrative, management and supervisory bodies by gender and other aspects of diversity39GOV-1, 21 ePercentage of independent board members39GOV-1, 5aThe role of the administrative, management and supervisory bodies related to business conduct39GOV-1, 5bThe expertise of administrative, management and supervisory bodies on busi-ness conduct matters41GOV-2Information provided to and sustainability matters addressed by the undertak-ing’s administrative, management and supervisory bodies57GOV-3Integration of sustainability-related performance in incentive schemes57GOV-4Statement on due diligence115GOV-5 Risk management and internal controls over sustainability reporting57SBM-1 Strategy, business model and value chain10SBM-2 Interests and views of stakeholders58SBM-3 Material impacts, risks and opportunities and their interaction with strategy and business model60IRO-1 Description of the processes to identify and assess material impacts, risks and opportunities64IRO-2Disclosure requirements in ESRS covered by the undertaking’s sustainability statement116sdfsdfdsfDisclosure requirementPage■E1 Climate changeESRS 2 GOV-3Integration of sustainability-related performance in incentive schemes69E1-1 Transition plan for climate change mitigation68ESRS 2 SBM-3Material impacts, risks and opportunities and their interaction with strategy and business model60ESRS 2 IRO-1Description of the processes to identify and assess material climate-related impacts, risks and opportunities66E1-2Policies related to climate change mitigation and adaptation67E1-3Actions and resources in relation to climate change policies69E1-4Targets related to climate change mitigation and adaptation70E1-5Energy consumption and mix73E1-6Gross Scopes 1, 2, 3 and Total GHG emissions74■E2 PollutionESRS 2 IRO-1Description of the processes to identify and assess material pollution-related impacts, risks and opportunities82E2-1Policies related to pollution83E2-2Actions and resources related to pollution83E2-3Targets related to pollution83Disclosure requirementPage■E3 Water and marine resourcesESRS 2 IRO-1Description of the processes to identify and assess material water and marine resources-related impacts, risks and opportunities84E3-1Policies related to water and marine resources85E3-2Actions and resources related to water and marine resources85E3-3Targets related to water and marine resources85E3-4Water consumption85■E4 Biodiversity and ecosystemsE4-1Transition plan and consideration of biodiversity and ecosystems in strategy and business model87ESRS 2 IRO-1Description of processes to identify and assess material biodiversity and ecosystem-related impacts, risks and opportunities86E4-2Policies related to biodiversity and ecosystems87E4-3Actions and resources related to biodiversity and ecosystems87E4-4Targets related to biodiversity and ecosystems87■E5 Resource use and circular economyESRS 2 IRO-1Description of the processes to identify and assess material resource use and circular economy-related impacts, risks and opportunities88E5-1Policies related to resource use and circular economy89E5-2Actions and resources related to resource use and circular economy89E5-3Targets related to resource use and circular economy89E5-4Resource inflows89E5-5Resource outflows90Disclosure requirementPage■S1 Own workforceESRS 2 SBM-2Interests and views of stakeholders58ESRS 2 SBM-3Material impacts, risks and opportunities and their interaction with strategy and business model62S1-1 Policies related to own workforce94S1-2Processes for engaging with own workers and workers’ representatives about impacts94S1-3Processes to remediate negative impacts and channels for own workers to raise concerns108S1-4Taking action on material impacts on own workforce, and approaches to miti-gating material risks and pursuing material opportunities related to own work-force, and effectiveness of those actions94S1-5Targets related to managing material negative impacts, advancing positive impacts, and managing material risks and opportunities96S1-6Characteristics of the undertaking’s employees93S1-8Collective bargaining coverage and social dialogue98S1-9Diversity metrics97S1-10Adequate wages99S1-14Health and safety metrics99S1-16Compensation metrics (pay gap and total compensation)100S1-17Incidents, complaints and severe human rights impacts100Disclosure requirementPage■S2 Workers in the value chainESRS 2 SBM-2Interests and views of stakeholders58ESRS 2 SBM-3Material impacts, risks and opportunities and their interaction with strategy and business model62S2-1Policies related to value chain workers102S2-2Processes for engaging with value chain workers about impacts102S2-3Processes to remediate negative impacts and channels for value chain workers to raise concerns108S2-4Taking 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 action102S2-5Targets related to managing material negative impacts, advancing positive impacts, and managing material risks and opportunities102■S4 Consumers and end-usersESRS 2 SBM-2Interests and views of stakeholders58ESRS 2 SBM-3Material impacts, risks and opportunities and their interaction with strategy and business model63S4-1Policies related to consumers and end-users104S4-2Processes for engaging with consumers and end-users about impacts104S4-3Processes to remediate negative impacts and channels for consumers and end-users to raise concerns108S4-4Taking 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 actions105S4-5Targets related to managing material negative impacts, advancing positive impacts, and managing material risks and opportunities106Disclosure requirementPage■G1 Business conductESRS 2 GOV-1The role of the administrative, supervisory and management bodies111ESRS 2 IRO-1Description of the processes to identify and assess material impacts, risks and opportunities112G1-1Corporate culture and business conduct policies and corporate culture112G1-2Management of relationships with suppliers113IRO-2Data points that derive from other EU legislationDisclosure requirement and related datapointSFDreferencePillar 3 referenceBenchmark regulation referenceEU Climate Law referenceSection/pageESRS 2 GOV-1 Board's gender diversity paragraph 21 (d)■■39ESRS 2 GOV-1 Percentage of board members who are independent paragraph 21 (e)■39ESRS 2 GOV-4 Statement on due diligence paragraph 30■115ESRS 2 SBM-1 Involvement in activities related to fossil fuel activities paragraph 40 (d) i■■■Not materialESRS 2 SBM-1 Involvement in activities related to chemical production paragraph 40 (d) ii■■Not materialESRS 2 SBM-1 Involvement in activities related to controversial weapons paragraph 40 (d) iii■■Not materialESRS 2 SBM-1 Involvement in activities related to cultivation and production of tobacco paragraph 40 (d) iv■Not materialESRS E1-1 Transition plan to reach climate neutrality by 2050 paragraph 14■Not materialESRS E1-1 Undertakings excluded from Paris-aligned Benchmarks paragraph 16 (g)■■69ESRS E1-4 GHG emission reduction targets paragraph 34■■■70ESRS E1-5 Energy consumption from fossil sources disaggregated by sources (only high climate impact sectors) paragraph 38■73ESRS E1-5 Energy consumption and mix paragraph 37■73Disclosure requirement and related datapointSFDreferencePillar 3 referenceBenchmark regulation referenceEU Climate Law referenceSection/pageESRS E1-5Energy intensity associated with activities in high climate impact sectors paragraphs 40 to 43■73ESRS E1-6 Gross Scope 1, 2, 3 and Total GHG emissions paragraph 44■■■74ESRS E1-6 Gross GHG emissions intensity paragraphs 53 to 55■■■74ESRS E1-7 GHG removals and carbon credits paragraph 56■Not materialESRS E1-9Exposure of the benchmark portfolio to climate-related physical risks paragraph 66■Not materialESRS E1-9Disaggregation of monetary amounts by acute and chronic physical risk paragraph 66 (a).Location of significant assets at material physical risk paragraph 66 (c).■Not materialESRS E1-9 Breakdown of the carrying value of its real estate assets by energy-efficiency classes paragraph 67 (c).■Not materialESRS E1-9 Degree of exposure of the portfolio to climate- related opportunities paragraph 69■Not materialESRS E2-4 Amount of each pollutant listed in Annex II of the E-PRTR Regulation (European Pollutant Release and Transfer Register) emitted to air, water and soil, paragraph 28■Not materialESRS E3-1 Water and marine resources paragraph 9■85ESRS E3-1 Dedicated policy paragraph 13■Not materialDisclosure requirement and related datapointSFDreferencePillar 3 referenceBenchmark regulation referenceEU Climate Law referenceSection/pageESRS E3-1 Sustainable oceans and seas paragraph 14■Not materialESRS E3-4 Total water recycled and reused paragraph 28 (c)■Not materialESRS E3-4 Total water consumption in m3per net revenue on own operations paragraph 29■Not materialESRS 2- SBM 3- E4 paragraph 16 (a) i■Not materialESRS 2- SBM 3- E4 paragraph 16 (b)■Not materialESRS 2- SBM 3- E4 paragraph 16 (c)■Not materialESRS E4-2 Sustainable land / agriculture practices or policies paragraph 24 (b)■Not materialESRS E4-2 Sustainable oceans / seas practices or policies paragraph 24 (c)■Not materialESRS E4-2 Policies to address deforestation paragraph 24 (d)■87ESRS E5-5Non-recycled waste paragraph 37 (d)■91ESRS E5-5 Hazardous waste and radioactive waste paragraph 39■91ESRS 2- SBM3 - S1 Risk of incidents of forced labour paragraph 14 (f)■94ESRS 2- SBM3 - S1 Risk of incidents of child labour paragraph 14 (g)■94ESRS S1-1 Human rights policy commitments paragraph 20■108ESRS S1-1 Due diligence policies on issues addressed by the fundamental International Labor Organisation Conventions 1 to 8, paragraph 21■108ESRS S1-1 Processes and measures for preventing trafficking in human beings paragraph 22■Not materialESRS S1-1 Workplace accident prevention policy or management system paragraph 23■94Disclosure requirement and related datapointSFDreferencePillar 3 referenceBenchmark regulation referenceEU Climate Law referenceSection/pageESRS S1-3Grievance/complaints handling mechanisms paragraph 32 (c)■108ESRS S1-14 Number of fatalities and number and rate of work-related accidents paragraph 88 (b) and (c)■■99ESRS S1-14 Number of days lost to injuries, accidents, fatalities or illness paragraph 88 (e)■Phase-inESRS S1-16 Unadjusted gender pay gap paragraph 97 (a)■■100ESRS S1-16 CEO pay ratio paragraph 97 (b)■Remuneration ReportESRS S1-17 Incidents of discrimination paragraph 103 (a)■100ESRS S1-17 Non-respect of UNGPs on Business and Human Rights and OECD Guidelines paragraph 104 (a)■■108ESRS 2- SBM3 – S2 Significant risk of child labour or forced labour in the value chain paragraph 11 (b)■102ESRS S2-1 Human rights policy commitments paragraph 17■108ESRS S2-1 Policies related to value chain workers paragraph 18■102ESRS S2-1 Non-respect of UNGPs on Business and Human Rights principles and OECD guidelines paragraph 19■■108ESRS S2-1 Due diligence policies on issues addressed by the fundamental International Labor Organisation Conventions 1 to 8, paragraph 19■108ESRS S2-4 Human rights issues and incidents connected to its upstream and downstream value chain paragraph 36■102ESRS S3-1 Human rights policy commitments paragraph 16■Not materialDisclosure requirement and related datapointSFDreferencePillar 3 referenceBenchmark regulation referenceEU Climate Law referenceSection/pageESRS S3-1 Non-respect of UNGPs on Business and Human Rights, ILO principles or OECD guidelines paragraph 17■■Not materialESRS S3-4 Human rights issues and incidents paragraph 36■Not materialESRS S4-1 Policies related to consumers and end-users paragraph 16■104ESRS S4-1 Non-respect of UNGPs on Business and Human Rights and OECD guidelines paragraph 17■■108ESRS S4-4 Human rights issues and incidents paragraph 35■104ESRS G1-1 United Nations Convention against Corruption paragraph 10 (b)■112ESRS G1-1 Protection of whistle- blowers paragraph 10 (d)■112ESRS G1-4 Fines for violation of anti- corruption and anti-bribery laws paragraph 24 (a)■■Not materialESRS G1-4 Standards of anti- corruption and anti- bribery paragraph 24 (b)■Not materialThrough our Double Materiality Assessment process, we have determined what information is material for our Sustainability Statements, and which are not. It is through this process that ESRS S3 Affected Communities is not deemed material. This is because the Group's identified IROs for consumers and end-users indirectly also targets the affected communities. As such, we consider our customers to be part of the communities surrounding Matas Group operations making S3 Affected Communities imma-terial for our reporting obligations. </mrv:SustainabilityReport>
   <mrv:LinkToCorporateGovernanceReport contextRef="ctx-1" id="f0__s9__7__14">matasgroup.com/governance/ </mrv:LinkToCorporateGovernanceReport>
   <mrv:DescriptionofTheTaxonomyRegulation contextRef="ctx-1" id="f0__s9__7__11" xml:lang="en">EU taxonomyWe use the taxonomy framework to support transparency and guide operational improvements. Documentation remains a challenge when assessing alignment, particularly where information depends on external parties and assets that we do not fully control. Eligible activitiesWe have continued to assess EU taxonomy eligibility for Turnover, CAPEX and OPEX in accordance with Article 8. For the current reporting year, we has not incorporated amendments to the Delegated Act into the eligibility assessment and have retained the prior-year methodology for purposes of comparability and reporting consistency. Based on our business model as a Nordic retail group, turnover from our sale of products is not linked to taxonomy-eligible economic activities and therefore reported as non-eligible. Eligible CAPEX and OPEX primarily relate to activities supporting our store, warehouse and office footprint, as well as selected transport and IT-related activities.Eligible activities for Matas Group in 2025/26 are:In 2025/26, the following activities are deemed eligible.CCM 6.5 Transport by motorbikes, passenger cars and light commercial vehicles.CCM 7.2* Renovation of existing buildings.CCM 7.3* Installation, maintenance and repair of energy efficiency equipment.CCM 7.4 Installation, maintenance and repair of charging stations for electric vehicles in buildings (and parking spaces attached to buildings).CCM 7.7* Acquisition and ownership of buildings.CCM 8.1 Data processing, hosting and related activities.These activities relate to company cars, renovation and refurbishment of stores and other facilities, energy efficiency improvements, charging infrastruc-ture, long-term leases and ownership of buildings, and IT infrastructure. Eligible OPEX is mainly linked to service, maintenance and other direct running costs supporting these same activities, in particular company cars, energy effi-ciency equipment, buildings, and selected IT infra-structure. Assessing alignmentWe assess whether taxonomy-eligible activities meet the relevant substantial contribution criteria, the Do No Significant Harm (DNSH) criteria and the minimum safeguards. Where activities are eligible under more than one environmental objective, this is considered in the assessment of the relevant technical screening criteria.As a retail group with a large leased footprint and dependencies on external documentation, obtaining sufficient evidence to demonstrate alignment remains challenging. We therefore prioritise our documenta-tion and assessment efforts for the activities most relevant to our business model and most significant for CAPEX and OPEX, namely CCM 6.5, CCM 7.2 and CCM 7.7.For most eligible activities, we are not yet in a position to demonstrate full compliance with the technical screening criteria, as the supporting documentation remains insufficient. For other eligible activities, the required underlying data is not yet available at the level of detail necessary to complete an alignment assess-ment. As a result, no alignment has been concluded for these activities in the current reporting year. An initial assessment was performed this year for company cars under CCM 6.5; however, documentation gaps remain and no alignment has therefore been reported. A change in methodology has been applied in 2025/26 for CCM 7.2, CCM 7.3 and CCM 7.7, and the compar-ative figures have been restated. The purpose of the methodological refinement was to better reflect the underlying nature of the Group’s building-related expenditure and its business model. Further details are provided in the accounting policies.The CAPEX profile reflects a somewhat different investment mix across the eligible activities than 2024/25. Activity 6.5 increased, mainly due to addi-tions relating to new electric cars, while activities 7.3 and 7.4 also increased, including investments in energy efficiency equipment and new charging stations. Activity 7.7 was lower than in the prior year, as the previous reporting period included our capital invest-ment related to the development of MLC. No aligned CAPEX has been reported for the current year.The OPEX profile reflects a shift in cost composition during the year with a larger share atrributable to activi-ties CCM 7.2 and CCM 7.7 and a smaller share to activity CCM 7.3. The increase is driven by a higher renovation activity and building related running costs. No aligned OPEX has been reported for the current year.Minimum safeguardsWe assess compliance with the minimum safeguards at Group level, covering human rights, taxation, fair competition, and anti-corruption and bribery. For human rights due dilligence, we have continued our membership with amfori BSCI to support assess-ments of suppliers operating in high-risk areas. For fair competition, we have continued relevant employee training. Policies related to anti-corruption and bribery (Supplier Code of Conduct, Employee Code of Conduct and our Gift Policy) remain integrated into onboarding and employee governance processes, supported by our whistleblower scheme, as explained under G1 disclosures, see page 112. Our policies are aligned with OECD Guidelines, UNGPs and ILO conven-tions, as described in our Human Rights section on page 108. We operate a reporting- and control proce-dure regarding gifts and entertainment to ensure that no employees can be suspected of violating our anti-bribery and anti-corruption obligations. We aim to pay tax in the markets where we operate and do not operate in tax havens to exploit lack of transparency. Our Group tax policy, approved by the Board of Direc-tors, outlines our approach to tax compliance and is available at matasgroup.com/governance/policies. For 2025/26 there where no convictions against Matas. Group related to human rights, corruption and bribery, taxation, or fair competition laws. Focus for the coming yearWe will continue to improve data quality and internal controls for EU taxonomy reporting, prioritising areas where improved documentation can most effectively support eligibility and alignment assessments. At present, Matas Group do not report taxonomy CAPEX plans.*	Comparative figures for the prior year have been restated. Explanation for the restatements is described under the CAPEX and OPEX tables on p. 79 and 80. TurnoverSubstantial Contribution CriteriaDNSH criteria ('Does Not Significantly Harm')Economic Activities (1)Code (2)Absolute Turnover (3)Propor-tion of Turnover (4)Climate Change Mitiga-tion (5)1Climate Change Adapta-tion (6)Water (7)Pollution(8)Circular Economy(9)Biodiver-sity and ecosys-tems (10)Climate Change Mitiga-tion (11)Climate Change Adapta-tion (12)Water(13)Pollution(14)Circular Economy(15)Biodiver-sity(16)Minimum Safe-guards(17)Proportion of Taxonomy aligned (A.1) or -eligible (A.2) Turnover year 2025 (18)*Category (enabling activity) (20)Category(transi-tional activity)(21)Millions, DKK%%%%%%%Y/NY/NY/NY/NY/NY/NY/N%ETA. TAXONOMY-ELIGIBLE ACTIVITIESA.1. Environmentally sustainable activities (Taxonomy-aligned)Turnover of environmentally sustainable activities (Taxonomy-aligned) (A.1) 0.000.0%0.00.00.00.00.00.0NNNNNNY0.0Of which Enabling0.000.0%0.00.00.00.00.00.0NNNNNNY0.0EOf which Transitional0.000.0%0.00.00.00.00.00.0NNNNNNY0.0TA.2 Taxonomy-eligible but not environmentally sustainable activities (not Taxonomy-aligned activities)Turnover of Taxonomy-eligible but not environmentally sustainable activities (not Taxonomy-aligned activities) (A.2)0.00.0%Total (A.1+A.2)0.00.0%B. TAXONOMY-NON-ELIGIBLE ACTIVITIESTurnover of Taxonomy-non-eligible activities8,776100%Total (A+B)8,776100%CAPEXSubstantial Contribution CriteriaDNSH criteria ('Does Not Significantly Harm')Economic Activities (1)Code (2)Absolute CAPEX (3)Proportion of CAPEX (4)Climate Change Mitigation (5)1Climate Change Adapta-tion (6)Water (7)Pollution(8)Circular Economy(9)Biodiver-sity and ecosys-tems (10)Climate Change Mitigation (11)Climate Change Adapta-tion (12)Water(13)Pollution(14)Circular Economy(15)Biodiver-sity(16)Minimum Safe-guards(17)Proportion of Taxonomy aligned (A.1) or -eligible (A.2) Turnover CAPEX, year 2025, (18)*Category (enabling activity) (20)Category(transi-tional activity)(21)TextMillions, DKK%%%%%%%Y/NY/NY/NY/NY/NY/NY/N%ETA. TAXONOMY-ELIGIBLE ACTIVITIESA.1. CAPEX of environmentally sustainable activities (Taxonomy-aligned)Acquisition and ownership of buildingsCCM 7.70.000.0%0.00%0.00%0.00%0.00%0.00%0.00%NYNNNNY38%CAPEX of environmentally sustainable activities (Taxonomy-aligned) (A.1)0.000.0%0.0%0.00%0.00%0.00%0.00%0.00%NYNNNNY38%Of which Enabling0.000.00%0.00%0.00%0.00%0.00%0.00%0.00%NYNNNNY0%EOf which Transitional0.000.00%0.00%0.00%0.00%0.00%0.00%0.00%NYNNNNY0%TA.2 Taxonomy-Eligible but not environmentally sustainable activities (not Taxonomy-aligned)Transport by motorbikes, passenger cars and light commercial vehicles CCM 6.515.103.3%ELN/ELN/ELN/ELN/ELN/EL0.2%Construction of new buildingsCCM 7.10.000.0%ELN/ELN/ELN/ELN/ELN/EL0.0%Renovation of existing buildings CCM 7.258.1112.6%ELN/ELN/ELN/ELN/ELN/EL10.2%*Installation, maintenance and repair of energy efficiency equipment CCM 7.33.600.8%ELN/ELN/ELN/ELN/ELN/EL0.4%*Installation, maintenance and repair of charging stations for electric vehicles in buildingsCCM 7.40.830.2%ELN/ELN/ELN/ELN/ELN/EL0.0%Acquisition and ownership of buildings CCM 7.741.819.1%ELN/ELN/ELN/ELN/ELN/EL14.7%*Data processing, hosting and related activities CCM 8.10.000.0%ELN/ELN/ELN/ELN/ELN/EL0.7%CAPEX of Taxonomy-eligible but not environmentally sustainable activities (not Taxonomy-aligned activities) (A.2)119.4626.0%25%0%0%0%0%0%26.2%Total (A.1+A.2)119.4626.0%25%0%0%0%0%0%63.9%B. TAXONOMY-NON-ELIGIBLE ACTIVITIESCAPEX of Taxonomy-non-eligible activities340.5474.0%Total (A+B)460.00100%*	Restatement: 2024/25 taxonomy data has been restated due to change in the allocation between CCM 7.7 and CCM 7.2. Following the revised approach, renovation expenditures are allocated to CCM 7.2, while CCM 7.7 is limited to acquisition, ownership and new lease additions. CMM 7.7 constituted 17.7% of taxonomy eligible activities, this has now been restated to 14.7% of eligible CAPEX. This has also reflected a change in CCM 7.2 from 3.9% to 10.2%. Additionally we have restated the 2024/25 data for CCM 7.3 under our taxonomy reporting, as this activity previously included renovation of stores, which has now been reallocated to CCM 7.2. The reported CAPEX for CCM 7.3 was 3.6% and this has changed to 0.4%OPEXSubstantial Contribution CriteriaSubstantial Contribution CriteriaEconomic Activities (1)Code (2)Absolute OPEX (3)Proportion of OPEX (4)Climate Change Mitigation (5)1Climate Change Adapta-tion (6)Water (7)Pollution(8)Circular Economy(9)Biodiver-sity and ecosys-tems (10)Climate Change Mitigation (11)Climate Change Adapta-tion (12)Water(13)Pollution(14)Circular Economy(15)Biodiver-sity(16)Minimum Safe-guards(17)Proportion of Taxonomy aligned (A.1) or -eligible (A.2) Turnover CAPEX, year, year 2025 (18)*Category (enabling activity) (20)Category(transi-tional activity)(21)TextMillions, DKK%%%%%%%Y/NY/NY/NY/NY/NY/NY/N%ETA. TAXONOMY-ELIGIBLE ACTIVITIESA.1. Environmentally sustainable activities (Taxonomy-aligned)0.000.00%0.00%0.00%0.00%0.00%0.00%0.00%NNNNNNY0%Of which Enabling0.000.00%0.00%0.00%0.00%0.00%0.00%0.00%NNNNNNY0%EOf which Transitional0.000.00%0.00%0.00%0.00%0.00%0.00%0.00%NNNNNNY0%TA.2 Taxonomy-Eligible but not environmentally sustainable activities (not Taxonomy-aligned)Transport by motorbikes, passenger cars and light commercial vehiclesCCM 6.50.360.5%ELN/ELN/ELN/ELN/ELN/EL0.3%Renovation of existing buildingsCCM 7.2 42.9655.2%ELN/ELN/ELN/ELN/ELN/EL51.7%*Installation, maintenance and repair of energy efficiency equipment CCM 7.31.001.3%ELN/ELN/ELN/ELN/ELN/EL6.6%*Installation, maintenance and repair of charging stations for electric vehicles in buildingsCCM 7.40.040.0%ELN/ELN/ELN/ELN/ELN/EL0.0%Acquisition and ownership of buildings CCM 7.731.4840.5%ELN/ELN/ELN/ELN/ELN/EL34.7%*Data processing, hosting and related activities CCM 8.10.50.6%ELN/ELN/ELN/ELN/ELN/EL0.3%OPEX of Taxonomy-eligible but not environmentally sustainable activities (not Taxonomy-aligned activities) (A.2)76.3098.1%98%0%0%0%0%0%93.6%A. Total (A.1+A.2)76.3098.1%98%0%0%0%0%0%93.6%B. TAXONOMY-NON-ELIGIBLE ACTIVITIESOPEX of Taxonomy-non-eligible activities1.501.9%Total (A+B)77.80100%*	Restatement: 2024/25 taxonomy data has been restated due to change in the allocation between CCM 7.7 and CCM 7.2. Following the revised approach, renovation expenditures are allocated to CCM 7.2, while CCM 7.7 is limited to acquisition, ownership and new lease additions. CMM 7.7 constituted 85.3% of taxonomy eligible activities, this has now been restated to 34.7% of eligible OPEX. This has also reflected a change in CCM 7.2 from 0% to 51.7%. Additionally we have restated the 2024/25 data for CCM 7.3 under our taxonomy reporting, as this activity previously included renovation of stores, which has now been reallocated to CCM 7.2. The reported CAPEX for CCM 7.3 was 7.7% and this has changed to 6.6%. Accounting policies The share of taxonomy-eligible economic activities is expressed as the proportion of turnover, total additions (CAPEX) and direct non-capitalised expenditures (OPEX) related to a product, service, assets or processes associated with an economic activity described in the EU taxonomy. The taxonomy reporting is carried out at Group level.Matas Group has not applied disaggregation of KPIs of the type used for integrated production facilities. Amounts are assessed and allocated from the underlying additions, asset ledgers or operating expense accounts to the relevant economic activity, as applicable.Double counting across environmental objectives is avoided since CAPEX and OPEX are allocated to economic activities based on the underlying additions or expenditures assessed line by line, and the results are recon-ciled to the relevant financial statement line items and supporting records. This means the allocation process goes from the underlying addition or expenditure to the economic activity, not the other way around.*Restatements: A change in methodology has been applied in the current reporting year where Matas Group refined the allocation principles for CCM 7.2 Renovation of existing buildings and CCM 7.7 Acquisition and ownership of buildings to better reflect the Group’s business model as a retail company with a large, leased property footprint and distinct categories of expenditure related to both building use and building upgrades. Under the revised approach, major renovation and refurbishment expenditure is allocated to CCM 7.2, while CCM 7.7 is limited to acquisition, ownership and new long-term lease additions. This change was made to ensure a more faithful classification of expenditures based on their underlying nature and to improve consist-ency in the application of the methodology. Additionally we have restated CCM 7.3 as this activity previously included renovation of stores, which has now been reallocated to CCM 7.2.As a result, prior-year comparative figures have been restated to reflect the updated allocation approach and maintain comparability. For the other eligible economic activities, no changes were made to the allocation approach; only a more detailed level of granularity was applied in the assessment.Turnover The reported total turnover follows the revenue line reported in Matas Group’s Annual Report 2025/26 (see note 2 →). The reported taxonomy turnover KPIs are: 1.	Eligible turnover. This KPI is defined as taxonomy-eligible turnover / total turnover. 2.	Aligned turnover. This KPI is defined as taxonomy-aligned turnover / total turnover. CAPEXFor the calculation of total CAPEX, the EU Taxonomy defines CAPEX as additions to property, plant and equipment, including right-of-use assets, and intangible assets during the financial year (See note 3.1 →, note 3.2 →and note 3.3 →). The total CAPEX denominator is aligned with reported additions in Matas’ Annual Report 2025/26 on the following points in the Taxonomy CAPEX definition: 1.	IAS 16 Property, plant and equipment 2.	IAS 38 Intangible assets 3.	IFRS 16 Leases As for note 3.3, the IFRS 16 lease additions included in the CAPEX denominator do not include re-evaluations. This is consistent with the EU Taxonomy reporting methodology applied in previous financial years.The EU Taxonomy defines three categories of allocating eligible and aligned CAPEX: a)	CAPEX related to assets or processes that are associated with a taxonomy-aligned economic activity, b)	CAPEX that is part of a plan to expand an aligned or upgrade an eligible activity to become aligned,c)	CAPEX related to the purchase of output from taxonomy-aligned economic activities and individual meas-ures enabling target activities to become low-carbon or lead to greenhouse gas reductions. Non-eligible CAPEX includes additions to property, plant and equipment and intangible assets related to retail and sales operations, IT software, and administrative activities.The reported taxonomy CAPEX KPIs are: 1. Eligible CAPEX. This KPI is defined as taxonomy-eligible CAPEX / total CAPEX. 2.	Aligned CAPEX. This KPI is defined as taxonomy-aligned CAPEX / total CAPEX. OPEX For the calculations of total OPEX, the EU taxonomy defines OPEX as direct non-capitalised costs that relate to research and development, building renovation measures, short-term leases, maintenance and repair, and any other direct expenditure relating to the day-to-day servicing of assets of property, plant and equipment that are necessary to ensure the continued and effective functioning of such assets. In our reporting, OPEX covers direct non-capitalised expenditures related to taxonomy-eligible and non-eligible economic activities that align with the definition above. For our eligible numerator, we have allocated repair and maintenance, building renovation, and other direct running costs associated with eligible assets identified under our CAPEX KPI. For our non-eligible OPEX, we have assigned repair and maintenance costs related to our retail, sales and administrative activities, as well as employee training. The largest share of the eligible numerator relates to buildings and associated running costs.The reported taxonomy OPEX KPIs are: 1. Eligible OPEX: This KPI is defined as taxonomy-eligible OPEX / total OPEX. 2.	Aligned OPEX: This KPI is defined as taxonomy-aligned OPEX / total OPEX. Taxonomy alignment process The process for determining Matas Group’s degree of sustainable economic activities is conducted in three steps: 1.	Screening and identifying eligible economic activities across Matas Group carried out in the reporting period. 2.	Assessing the identified economic activities’ alignment degree by compliance checking up against the technical screening criteria for Substantial contribution and Do No Significant Harm. 3.	Comparing defined requirements to comply with Minimum safeguards against Matas Group’s existing procedure and policies.</mrv:DescriptionofTheTaxonomyRegulation>
   <mrv:LinkToStatementOfPolicyForDataEthics contextRef="ctx-47" id="f0__s9__7__13">matasgroup.com/governance/policies </mrv:LinkToStatementOfPolicyForDataEthics>
   <mrv:LinkToStatementOfDiversityPolicies contextRef="ctx-1" id="f0__s9__7__16">matasgroup.com/governance/policies </mrv:LinkToStatementOfDiversityPolicies>
   <sob:StatementByExecutiveAndSupervisoryBoards contextRef="ctx-1" id="f0__s9__7__18" xml:lang="en">Statement by the Board of Directors and the Executive CommitteeThe Board of Directors and Executive Committee have today considered and adopted the Annual Report of Matas A/S for the financial year 1 April 2025 – 31 March 2026.The Consolidated Financial Statements and the Parent Company Financial Statements have been prepared in accordance with IFRS Accounting Standards as adopted by the EU and further require-ments in the Danish Financial Statements Act. Management’s Review has been prepared in accordance with the Danish Financial State-ments Act. In our opinion, the Consolidated Financial Statements and the Parent Company Financial Statements give a true and fair view of the financial position at 31 March 2026 of the Group and the Parent Company and of the results of the Group and Parent Company operations and cash flows for 2025/26.In our opinion, Management’s Review includes a fair review of the development in the operations and financial circumstances of the Group and the Parent Company, of the results for the year and of the financial position of the Group and the Parent Company as well as a description of the most significant risks and elements of uncer-tainty, which the Group and the Parent Company are facing.Additionally, the sustainability statement, which is part of Manage-ment’s Review, has been prepared, in all material respects, in accordance with paragraph 99 a of the Danish Financial Statements Act. This includes compliance with the European Sustainability Reporting Standards (ESRS) including that the process undertaken by Management to identify the reported information (the “Process”) is in accordance with the description set out in the section “Impact, risk and opportunity management”. Furthermore, disclosures within the subsection titled “EU taxonomy” of the sustainability statement are, in all material respects, in accordance with Article 8 of EU Regu-lation 2020/852 (the “Taxonomy Regulation”).The sustainability statement includes forward-looking statements based on disclosed assumptions about events that may occur in the future and possible future actions by the Group. Actual outcomes are likely to be different since anticipated events frequently do not occur as expected.In our opinion, the Annual Report of Matas A/S for the financial year 1 April 2025 - 31 March 2026 with the file name Matas-2026-03-31-en.zip is prepared, in all material respects, in compliance with the ESEF Regulation.We recommend that the Annual Report be adopted at the Annual General Meeting.</sob:StatementByExecutiveAndSupervisoryBoards>
   <sob:PlaceOfSignatureOfStatement contextRef="ctx-1" id="f0__s9__7__19" xml:lang="en">Allerød</sob:PlaceOfSignatureOfStatement>
   <sob:DateOfApprovalOfAnnualReport contextRef="ctx-1" id="f0__s9__7__20">2026-05-19</sob:DateOfApprovalOfAnnualReport>
   <cmn:NameAndSurnameOfMemberOfExecutiveBoard contextRef="ctx-48" id="f0__s9__7__21" xml:lang="en">Mette Uglebjerg</cmn:NameAndSurnameOfMemberOfExecutiveBoard>
   <cmn:TitleOfMemberOfExecutiveBoard contextRef="ctx-48" id="f0__s9__7__22" xml:lang="en">Group CEO</cmn:TitleOfMemberOfExecutiveBoard>
   <cmn:NameAndSurnameOfMemberOfExecutiveBoard contextRef="ctx-49" id="f0__s9__7__23" xml:lang="en">Per Johannesen Madsen</cmn:NameAndSurnameOfMemberOfExecutiveBoard>
   <cmn:TitleOfMemberOfExecutiveBoard contextRef="ctx-49" id="f0__s9__7__24" xml:lang="en">Group CFO</cmn:TitleOfMemberOfExecutiveBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-50" id="f0__s9__7__25" xml:lang="en">Malou Aamund</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <cmn:TitleOfMemberOfSupervisoryBoard contextRef="ctx-50" id="f0__s9__7__26" xml:lang="en">Chair</cmn:TitleOfMemberOfSupervisoryBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-51" id="f0__s9__7__27" xml:lang="en">Mette Maix</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <cmn:TitleOfMemberOfSupervisoryBoard contextRef="ctx-51" id="f0__s9__7__28" xml:lang="en">Deputy Chair</cmn:TitleOfMemberOfSupervisoryBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-52" id="f0__s9__7__29" xml:lang="en">Espen Eldal</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-53" id="f0__s9__7__30" xml:lang="en">Barbara Plucnar Jensen</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-54" id="f0__s9__7__31" xml:lang="en">Henrik Taudorf Lorensen</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-55" id="f0__s9__7__32" xml:lang="en">Kenneth Melchior</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <arr:AddresseeOfAuditorsReportOnAuditedFinancialStatements contextRef="ctx-1" id="f0__s9__7__34" xml:lang="en">To the shareholders of Matas A/S</arr:AddresseeOfAuditorsReportOnAuditedFinancialStatements>
   <arr:OpinionOnAuditedFinancialStatements contextRef="ctx-1" id="f0__s9__7__35" xml:lang="en">Our opinionIn our opinion, the Consolidated Financial State-ments and the Parent Company Financial State-ments give a true and fair view of the Group’s and the Parent Company’s financial position at 31 March 2026 and of the results of the Group’s and the Parent Company’s operations and cash flows for the financial year 1 April 2025 - 31 March 2026 in accordance with IFRS Accounting Standards as adopted by the EU and further requirements in the Danish Financial Statements Act.Our opinion is consistent with our Auditor’s Long-form Report to the Audit Committee and the Board of Directors.What we have auditedThe Consolidated Financial Statements and Parent Company Financial Statements of Matas A/S for the financial year 1 April 2025 - 31 March 2026 comprise statement of comprehensive income, statement of cash flows, statement of financial position, statement of changes in equity and notes, including material accounting policy information for the Group as well as for the Parent Company. Collectively referred to as the “Finan-cial Statements”.</arr:OpinionOnAuditedFinancialStatements>
   <arr:DescriptionOfQualificationsOfAuditedFinancialStatements contextRef="ctx-1" id="f0__s9__7__36" xml:lang="en">Basis for opinionWe conducted our audit in accordance with International Standards on Auditing (ISAs) and the additional requirements applicable in Denmark. Our responsibilities under those standards and requirements are further described in the Audi-tor’s responsibilities for the audit of the Financial Statements section of our report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.IndependenceWe are independent of the Group in accordance with the International Ethics Standards Board for Accountants’ International Code of Ethics for Professional Accountants (IESBA Code) as applicable to audits of financial statements of public interest entities, and the additional ethical requirements applicable in Denmark. We have also fulfilled our other ethical responsibilities in accordance with these requirements and the IESBA Code.To the best of our knowledge and belief, prohib-ited non-audit services referred to in Article 5(1) of Regulation (EU) No 537/2014 were not provided. AppointmentWe were first appointed auditors of Matas A/S on 29 June 2023 for the financial year 2023/24. We have been reappointed annually by shareholder resolution for a total period of uninterrupted engagement of 3 years including the financial year 2025/26. </arr:DescriptionOfQualificationsOfAuditedFinancialStatements>
   <arr:KeyAuditMattersAudit contextRef="ctx-1" id="f0__s9__7__37" xml:lang="en">Key audit mattersKey audit matters are those matters that, in our professional judgement, were of most signifi-cance in our audit of the Financial Statements for 2025/26. These matters were addressed in the context of our audit of the Financial Statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters.Key audit matterHow our audit addressed the key audit matterValuation of goodwillThe carrying amount of goodwill at 31 March 2026 amounts to DKK 4,101 million, corresponding to 42% of total assets.Goodwill must be tested for impairment at least annually, which is done by Management based on a discounted cash flow model.The significant assumptions relate to prices, volumes, growth rates, costs, investments and discount rates.We focused on this, as there is a high level of subjectivity in determining the significant assumptions and the models used are complex.The accounting treatment is described in note 3.1 of the Consolidated Financial Statements.Our audit procedures included performing risk assessment procedures to obtain an understanding of the methodology used by Management to assess the carrying amount of goodwill.We obtained impairment tests prepared by Management and evaluated the reasonableness of esti-mates and judgements made by Management when preparing the impairment tests.We assessed the significant assumptions and challenged whether these are reasonable and supported by the most recently approved Management budgets, including expected future perfor-mance of the cash generating units (CGUs), and challenged whether these are appropriate in light of macroeconomic expectations in the markets.We made use of our internal valuation specialists to independently challenge the key inputs used in calculating the discount rates and to assess the methodologies applied. Further, we tested the mathematical accuracy of the models prepared by Management and assessed the appropriateness of disclosures in the Consolidated Financial Statements.</arr:KeyAuditMattersAudit>
   <arr:StatementOnManagementsReviewAuditorsReportOnAuditedFinancialStatements contextRef="ctx-1" id="f0__s9__7__38" xml:lang="en">Statement on Management’s ReviewManagement is responsible for Management’s Review.Our opinion on the Financial Statements does not cover Management’s Review, and we do not as part of the audit express any form of assurance conclusion thereon.In connection with our audit of the Financial Statements, our responsibility is to read Manage-ment’s Review and, in doing so, consider whether Management’s Review is materially inconsistent with the 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 paragraph 99 a related to the sustainability statement covered by the separate auditor’s limited assurance report hereon.Based on the work we have performed, in our view, Management’s Review is in accordance with the Consolidated Financial Statements and the Parent Company Financial Statements and has been prepared in accordance with the require-ments of the Danish Financial Statements Act, except for the requirements in paragraph 99 a related to the sustainability statement, cf. above. We did not identify any material misstatement in Management’s Review.</arr:StatementOnManagementsReviewAuditorsReportOnAuditedFinancialStatements>
   <arr:StatementOfExecutiveAndSupervisoryBoardsResponsibilityForFinancialStatements contextRef="ctx-1" id="f0__s9__7__39" xml:lang="en">Management’s responsibilities for the Financial StatementsManagement is responsible for the preparation of consolidated financial statements and parent company financial statements that give a true and fair view in accordance with IFRS Accounting Standards as adopted by the EU and further requirements in the Danish Financial Statements Act, and for such internal control as Management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.In preparing the Financial Statements, Manage-ment is responsible for assessing the Group’s and the Parent Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless Management either intends to liquidate the Group or the Parent Company or to cease operations, or has no real-istic alternative but to do so.</arr:StatementOfExecutiveAndSupervisoryBoardsResponsibilityForFinancialStatements>
   <arr:StatementOfAuditorsResponsibilityForAuditAndAuditPerformed contextRef="ctx-1" id="f0__s9__7__40" xml:lang="en">Auditor’s responsibilities for the audit of the Financial StatementsOur objectives are to obtain reasonable assur-ance about whether the Financial Statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs and 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 Financial Statements.As part of an audit 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 Financial Statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is suffi-cient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrep-resentations, or the override of internal control.Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circum-stances, but not for the purpose of expressing an opinion on the effectiveness of the Group’s and the Parent Company’s internal 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 Manage-ment’s use of the going concern basis of accounting and based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Group’s and the Parent Company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the Financial Statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Group or the Parent Company to cease to continue as a going concern.Evaluate the overall presentation, structure and content of the Financial Statements, including the disclosures, and whether the Financial Statements represent the underlying transac-tions 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 Finan-cial 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 rele-vant ethical requirements regarding independ-ence, and to communicate with them all relation-ships and other matters that may reasonably be thought to bear on our independence and, where applicable, actions taken to eliminate threats or safeguards applied.From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the 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 disclo-sure about the matter.</arr:StatementOfAuditorsResponsibilityForAuditAndAuditPerformed>
   <arr:AuditorsReportOnXbrlTagging contextRef="ctx-1" id="f0__s9__7__41" xml:lang="en">Report on compliance with the ESEF RegulationAs part of our audit of the Financial Statements we performed procedures to express an opinion on whether the annual report of Matas A/S for the financial year 1 April 2025 - 31 March 2026 with the filename Matas-2026-03-31-en.zip is prepared, in all material respects, in compliance with the Commission Delegated Regulation (EU) 2019/815 on the European Single Electronic Format (ESEF Regu-lation) which includes requirements related to the preparation of the annual report in XHTML format and iXBRL tagging of the Consolidated Financial Statements including notes.Management is responsible for preparing an annual report that complies with the ESEF Regulation. This responsibility includes:The preparing of the annual report in XHTML format;The selection and application of appropriate iXBRL tags, including extensions to the ESEF taxonomy and the anchoring thereof to elements in the taxonomy, for all financial infor-mation required to be tagged using judgement where necessary;Ensuring consistency between iXBRL tagged data and the Consolidated Financial State-ments presented in human-readable format; andFor such internal control as Management deter-mines necessary to enable the preparation of an annual report that is compliant with the ESEF Regulation.Our responsibility is to obtain reasonable assur-ance on whether the annual report is prepared, in all material respects, in compliance with the ESEF Regulation based on the evidence we have obtained, and to issue a report that includes our opinion. The nature, timing and extent of proce-dures selected depend on the auditor’s judge-ment, including the assessment of the risks of material departures from the requirements set out in the ESEF Regulation, whether due to fraud or error. The procedures include:Testing whether the annual report is prepared in XHTML format;Obtaining an understanding of the company’s iXBRL tagging process and of internal control over the tagging process;Evaluating the completeness of the iXBRL tagging of the Consolidated Financial State-ments including notes;Evaluating the appropriateness of the compa-ny’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; andReconciling the iXBRL tagged data with the audited Consolidated Financial Statements.In our opinion, the annual report of Matas A/S for the financial year 1 April 2025 - 31 March 2026 with the file name Matas-2026-03-31-en.zip is prepared, in all material respects, in compliance with the ESEF Regulation.</arr:AuditorsReportOnXbrlTagging>
   <arr:SignatureOfAuditorsPlace contextRef="ctx-1" id="f0__s9__7__42" xml:lang="en">Hellerup</arr:SignatureOfAuditorsPlace>
   <arr:SignatureOfAuditorsDate contextRef="ctx-1" id="f0__s9__7__43">2026-05-19</arr:SignatureOfAuditorsDate>
   <cmn:NameOfAuditFirm contextRef="ctx-56" id="f0__s9__7__44" xml:lang="en">PricewaterhouseCoopersStatsautoriseret Revisionspartnerselskab</cmn:NameOfAuditFirm>
   <cmn:NameOfAuditFirm contextRef="ctx-57" id="f0__s9__7__45" xml:lang="en">PricewaterhouseCoopersStatsautoriseret Revisionspartnerselskab</cmn:NameOfAuditFirm>
   <cmn:IdentificationNumberCvrOfAuditFirm contextRef="ctx-56" id="f0__s9__7__46">33771231</cmn:IdentificationNumberCvrOfAuditFirm>
   <cmn:IdentificationNumberCvrOfAuditFirm contextRef="ctx-57" id="f0__s9__7__47">33771231</cmn:IdentificationNumberCvrOfAuditFirm>
   <cmn:NameAndSurnameOfAuditor contextRef="ctx-56" id="f0__s9__7__48" xml:lang="en">Michael Groth Hansen</cmn:NameAndSurnameOfAuditor>
   <cmn:DescriptionOfAuditor contextRef="ctx-56" id="f0__s9__7__49" xml:lang="en">State Authorised Public Accountant</cmn:DescriptionOfAuditor>
   <cmn:IdentificationNumberOfAuditor contextRef="ctx-56" id="f0__s9__7__50">mne33228</cmn:IdentificationNumberOfAuditor>
   <cmn:NameAndSurnameOfAuditor contextRef="ctx-57" id="f0__s9__7__51" xml:lang="en">Tue Stensgård Sørensen</cmn:NameAndSurnameOfAuditor>
   <cmn:DescriptionOfAuditor contextRef="ctx-57" id="f0__s9__7__52" xml:lang="en">State Authorised Public Accountant</cmn:DescriptionOfAuditor>
   <cmn:IdentificationNumberOfAuditor contextRef="ctx-57" id="f0__s9__7__53">mne32200</cmn:IdentificationNumberOfAuditor>
   <arr:AuditorsReportOnSubstainabilityReport contextRef="ctx-1" id="f0__s9__7__55" xml:lang="en">Independent auditor’s limited assurance report on the sustainability statement To the stakeholders of Matas A/SLimited assurance conclusionWe have conducted a limited assurance engage-ment on the sustainability statement of Matas A/S (the “Group”) included in the Management’s Review (the “Sustainability Statement”), for the financial year 1 April 2025 - 31 March 2026.Based on the procedures we have performed and the evidence we have obtained, nothing has come to our attention that causes us to believe that the Sustainability Statement is not prepared, in all material respects, in accordance with the Danish Financial Statements Act paragraph 99 a, including: compliance with the European Sustainability Reporting Standards (ESRS), including that the process carried out by the management to identify the information reported in the Sustainability Statement (the “Process”) is in accordance with the description set out in the section “Impact, risk and opportunity manage-ment”; andcompliance of the disclosures in the subsection “EU taxonomy reporting” within the environ-mental section of the Sustainability Statement with Article 8 of EU Regulation 2020/852 (the “Taxonomy Regulation”).Basis for conclusion We conducted our limited assurance engagement in accordance with International Standard on Assurance Engagements (ISAE) 3000 (Revised), Assurance engagements other than audits or reviews of historical financial information (“ISAE 3000 (Revised)”) and the additional requirements applicable in Denmark.The procedures in a limited assurance engage-ment vary in nature and timing from, and are less in extent than for, a reasonable assurance engagement. Consequently, the level of assurance obtained in a limited assurance engagement is substantially lower than the assurance that would have been obtained had a reasonable assurance engagement been performed.We believe that the evidence we have obtained is sufficient and appropriate to provide a basis for our conclusion. Our responsibilities under this standard are further described in the Auditor’s responsibilities for the assurance engagement section of our report. Our independence and quality managementWe are independent of the Group in accordance with the International Ethics Standards Board for Accountants’ International Code of Ethics for Professional Accountants (IESBA Code) and the additional ethical requirements applicable in Denmark. We have also fulfilled our other ethical responsibilities in accordance with these require-ments and the IESBA Code.Our firm applies International Standard on Quality Management 1, which requires the firm to design, implement and operate a system of quality management including policies or procedures regarding compliance with ethical requirements, professional standards and applicable legal and regulatory requirements.Management’s responsibilities for the Sustainability StatementManagement is responsible for designing and implementing a process to identify the informa-tion reported in the Sustainability Statement in accordance with the ESRS and for disclosing this Process as included in the section “Impact, risk and opportunity management” of the Sustaina-bility Statement. This responsibility includes:understanding the context in which the Group’s activities and business relationships take place and developing an understanding of its affected stakeholders;the identification of the actual and potential impacts (both negative and positive) related to sustainability matters, as well as risks and opportunities that affect, or could reasonably be expected to affect, the Group’s financial position, financial performance, cash flows, access to finance or cost of capital over the short-, medium-, or long-term;the assessment of the materiality of the identi-fied impacts, risks and opportunities related to sustainability matters by selecting and applying appropriate thresholds; andmaking assumptions that are reasonable in the circumstances.Management is further responsible for the preparation of the Sustainability Statement, which includes the information identified by the Process, in accordance with the Danish Financial Statements Act paragraph 99 a, including: compliance with the ESRS;preparing the disclosures as included in the subsection “EU taxonomy” within the environ-mental section of the Sustainability Statement, in compliance with Article 8 of the Taxonomy Regulation;designing, implementing and maintaining such internal control that management determines is necessary to enable the preparation of the Sustainability Statement that is free from material misstatement, whether due to fraud or error; andthe selection and application of appropriate sustainability reporting methods and making assumptions and estimates that are reasonable in the circumstances. Inherent limitations in preparing the Sustainability StatementIn reporting forward-looking information in accordance with ESRS, management is required to prepare the forward-looking information on the basis of disclosed assumptions about events that may occur in the future and possible future actions by the Group. Actual outcomes are likely to be different since anticipated events frequently do not occur as expected.Auditor’s responsibilities for the assurance engagementOur responsibility is to plan and perform the assurance engagement to obtain limited assur-ance about whether the Sustainability Statement is free from material misstatement, whether due to fraud or error, and to issue a limited assurance report that includes our conclusion. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence decisions of users taken on the basis of the Sustainability Statement as a whole.As part of a limited assurance engagement in accordance with ISAE 3000 (Revised) we exercise professional judgement and maintain professional scepticism throughout the engagement. Our responsibilities in respect of the Process include:Obtaining an understanding of the Process, but not for the purpose of providing a conclusion on the effectiveness of the Process, including the outcome of the Process; Considering whether the information identified addresses the applicable disclosure require-ments of the ESRS; and Designing and performing procedures to eval-uate whether the Process is consistent with the Group’s description of its Process, as disclosed in the section “Impact, risk and opportunity management".Our other responsibilities in respect of the Sustainability Statement include: Identifying where material misstatements are likely to arise, whether due to fraud or error; and Designing and performing procedures respon-sive to disclosures in the Sustainability State-ment where material misstatements are likely to arise. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.Summary of the work performedA limited assurance engagement involves performing procedures to obtain evidence about the Sustainability Statement. The nature, timing and extent of procedures selected depend on professional judgement, including the identifica-tion of disclosures where material misstatements are likely to arise, whether due to fraud or error, in the Sustainability Statement.In conducting our limited assurance engagement, with respect to the Process, we: Obtained an understanding of the Process by performing inquiries to understand the sources of the information used by management; and reviewing the Group’s internal documentation of its Process; andEvaluated whether the evidence obtained from our procedures about the Process imple-mented by the Group was consistent with the description of the Process set out in the section “Impact, risk and opportunity manage-ment”.In conducting our limited assurance engagement, with respect to the Sustainability Statement, we:Obtained an understanding of the Group’s reporting processes relevant to the preparation of its Sustainability Statement including the consolidation processes by obtaining an under-standing of the Group’s control environment, processes and information systems relevant to the preparation of the Sustainability State-ment but not evaluating the design of particular control activities, obtaining evidence about their implementation or testing their operating effectiveness; Evaluated whether the information identified by the Process is included in the Sustainability Statement;Evaluated whether the structure and the pres-entation of the Sustainability Statement are in accordance with the ESRS;Performed inquiries of relevant personnel and analytical procedures on selected information in the Sustainability Statement;Performed substantive assurance procedures on selected information in the Sustainability Statement;Where applicable, compared disclosures in the Sustainability Statement with the corre-sponding disclosures in the Financial State-ments and Management’s Review;Evaluated the methods, assumptions and data for developing estimates and forward-looking information; andObtained an understanding of the Group’s process to identify taxonomy-eligible and taxonomy-aligned economic activities and the corresponding disclosures in the Sustainability Statement.</arr:AuditorsReportOnSubstainabilityReport>
   <arr:AddresseeOfAuditorsReportOnSubstainabilityReports contextRef="ctx-1" id="f0__s9__7__56" xml:lang="en">To the stakeholders of Matas A/S</arr:AddresseeOfAuditorsReportOnSubstainabilityReports>
   <arr:IdentificationOfMattersOnWhichAssuranceReportIsProvidedAndDescriptionOfAssuranceEngagementSubstainabilityReport contextRef="ctx-1" id="f0__s9__7__57" xml:lang="en">Limited assurance conclusionWe have conducted a limited assurance engage-ment on the sustainability statement of Matas A/S (the “Group”) included in the Management’s Review (the “Sustainability Statement”), for the financial year 1 April 2025 - 31 March 2026.</arr:IdentificationOfMattersOnWhichAssuranceReportIsProvidedAndDescriptionOfAssuranceEngagementSubstainabilityReport>
   <arr:OpinionOnSubjectMatterOfAssuranceReportSubstainabilityReport contextRef="ctx-1" id="f0__s9__7__58" xml:lang="en">Based on the procedures we have performed and the evidence we have obtained, nothing has come to our attention that causes us to believe that the Sustainability Statement is not prepared, in all material respects, in accordance with the Danish Financial Statements Act paragraph 99 a, including: compliance with the European Sustainability Reporting Standards (ESRS), including that the process carried out by the management to identify the information reported in the Sustainability Statement (the “Process”) is in accordance with the description set out in the section “Impact, risk and opportunity manage-ment”; andcompliance of the disclosures in the subsection “EU taxonomy reporting” within the environ-mental section of the Sustainability Statement with Article 8 of EU Regulation 2020/852 (the “Taxonomy Regulation”).</arr:OpinionOnSubjectMatterOfAssuranceReportSubstainabilityReport>
   <arr:StatementOfAuditorsResponsibilitySubstainabilityReport contextRef="ctx-1" id="f0__s9__7__59" xml:lang="en">Auditor’s responsibilities for the assurance engagementOur responsibility is to plan and perform the assurance engagement to obtain limited assur-ance about whether the Sustainability Statement is free from material misstatement, whether due to fraud or error, and to issue a limited assurance report that includes our conclusion. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence decisions of users taken on the basis of the Sustainability Statement as a whole.As part of a limited assurance engagement in accordance with ISAE 3000 (Revised) we exercise professional judgement and maintain professional scepticism throughout the engagement. Our responsibilities in respect of the Process include:Obtaining an understanding of the Process, but not for the purpose of providing a conclusion on the effectiveness of the Process, including the outcome of the Process; Considering whether the information identified addresses the applicable disclosure require-ments of the ESRS; and Designing and performing procedures to eval-uate whether the Process is consistent with the Group’s description of its Process, as disclosed in the section “Impact, risk and opportunity management".Our other responsibilities in respect of the Sustainability Statement include: Identifying where material misstatements are likely to arise, whether due to fraud or error; and Designing and performing procedures respon-sive to disclosures in the Sustainability State-ment where material misstatements are likely to arise. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.</arr:StatementOfAuditorsResponsibilitySubstainabilityReport>
   <arr:SignatureOfSubstainabilityAuditorsPlace contextRef="ctx-1" id="f0__s9__7__60" xml:lang="en">Hellerup</arr:SignatureOfSubstainabilityAuditorsPlace>
   <arr:SignatureOfSubstainabilityAuditorsDate contextRef="ctx-1" id="f0__s9__7__61">2026-05-19</arr:SignatureOfSubstainabilityAuditorsDate>
   <cmn:NameOfAuditFirmSubstainability contextRef="ctx-58" id="f0__s9__7__62" xml:lang="en">PricewaterhouseCoopersStatsautoriseret Revisionspartnerselskab</cmn:NameOfAuditFirmSubstainability>
   <cmn:NameOfAuditFirmSubstainability contextRef="ctx-59" id="f0__s9__7__63" xml:lang="en">PricewaterhouseCoopersStatsautoriseret Revisionspartnerselskab</cmn:NameOfAuditFirmSubstainability>
   <cmn:IdentificationNumberCvrOfAuditFirmSubstainability contextRef="ctx-58" id="f0__s9__7__64">33771231</cmn:IdentificationNumberCvrOfAuditFirmSubstainability>
   <cmn:IdentificationNumberCvrOfAuditFirmSubstainability contextRef="ctx-59" id="f0__s9__7__65">33771231</cmn:IdentificationNumberCvrOfAuditFirmSubstainability>
   <cmn:NameAndSurnameOfSubstainabilityAuditor contextRef="ctx-58" id="f0__s9__7__66" xml:lang="en">Michael Groth Hansen</cmn:NameAndSurnameOfSubstainabilityAuditor>
   <cmn:DescriptionOfSubstainabilityAuditor contextRef="ctx-58" id="f0__s9__7__67" xml:lang="en">State Authorised Public Accountant</cmn:DescriptionOfSubstainabilityAuditor>
   <cmn:fIdentificationNumberOfSubstainabilityAuditor contextRef="ctx-58" id="f0__s9__7__68">mne33228</cmn:fIdentificationNumberOfSubstainabilityAuditor>
   <cmn:NameAndSurnameOfSubstainabilityAuditor contextRef="ctx-59" id="f0__s9__7__69" xml:lang="en">Tue Stensgård Sørensen</cmn:NameAndSurnameOfSubstainabilityAuditor>
   <cmn:DescriptionOfSubstainabilityAuditor contextRef="ctx-59" id="f0__s9__7__70" xml:lang="en">State Authorised Public Accountant</cmn:DescriptionOfSubstainabilityAuditor>
   <cmn:fIdentificationNumberOfSubstainabilityAuditor contextRef="ctx-59" id="f0__s9__7__71">mne32200</cmn:fIdentificationNumberOfSubstainabilityAuditor>
   <fsa:AverageNumberOfEmployees contextRef="ctx-1"
                                 decimals="0"
                                 id="f0__s9__7__100"
                                 unitRef="pure">3374</fsa:AverageNumberOfEmployees>
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                                 decimals="0"
                                 id="f0__s9__8__100"
                                 unitRef="pure">3504</fsa:AverageNumberOfEmployees>
   <gsd:NameOfReportingEntity contextRef="ctx-1" id="f0__s9__7__234" xml:lang="en">Matas A/S</gsd:NameOfReportingEntity>
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   <gsd:AddressOfReportingEntityPostCodeIdentifier contextRef="ctx-1" id="f0__s9__7__240" xml:lang="en">3450 Allerød</gsd:AddressOfReportingEntityPostCodeIdentifier>
   <gsd:AddressOfSubmittingEnterprisePostcodeAndTown contextRef="ctx-1" id="f0__s9__7__243" xml:lang="en">3450 Allerød</gsd:AddressOfSubmittingEnterprisePostcodeAndTown>
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   <gsd:InformationOnTypeOfSubmittedReport contextRef="ctx-1" id="f0__s2__72__15">Annual report</gsd:InformationOnTypeOfSubmittedReport>
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