Our annual scenario analysis supports our assessment of the resilience of our business against climate change. It covers our entire value chain, prioritising areas we can directly impact. The analysis identifies material impacts, risks, and opportunities. For more information related to the scenarios and time horizons, see section E1-IRO-1, page 65.

Scope 1 and 2 GHG emissions: The emissions from Vestas' own operations have a material negative impact on the climate, with 105 thousand tonnes of combined scope 1 and 2 emissions in 2024. This actual negative impact occurs in our own operations across the short, medium and long term.

Scope 3 GHG emissions: Scope 3 emissions represent a material negative impact for Vestas, as 98.8 percent of our total greenhouse gas emissions occur in our value chain. In 2024, 7.99 million tonnes of CO2e were emitted from our value chain, and our value chain scope 3 emission intensity was 56.6 kg/MWh. This actual negative impact occurs across the short, medium and long term.

Our annual scenario analysis supports our assessment of the resilience of our business against climate change. It covers our entire value chain, prioritising areas we can directly impact. The analysis identifies material impacts, risks, and opportunities. For more information related to the scenarios and time horizons, see section E1-IRO-1, page 65.

Our annual scenario analysis supports our assessment of the resilience of our business against climate change. It covers our entire value chain, prioritising areas we can directly impact. The analysis identifies material impacts, risks, and opportunities. For more information related to the scenarios and time horizons, see section E1-IRO-1, page 65.

Our water and marine resources related impacts, risks, and opportunities are assessed through an impact assessment developed in collaboration with third-party experts, utilizing third-party platforms, and by consulting internal subject matter experts. The assessment covers our entire value chain. During 2025, we aim to collect more robust data to further refine and support the materiality conclusions of our up- and downstream value chain.

By engaging third-party experts in the impact assessment, we get access to leading knowledge and platforms, supporting a more thorough analysis and conclusion. The impact of our supply chain is an assessment of water use and water pollution, estimated through sector-country averages based on our procurement spend. Using sector-specific country averages allows impact assessments across many suppliers based on assumptions of water use and pollution.

The impact of our own operations is an assessment of the actual water use across our facilities, while the impact of our downstream value chain is an assessment of water pollution during offshore activities. The analysis of water risks is focused on the level of water stress in the areas where our manufacturing facilities and critical suppliers are located. We use third-party software and geospatial coordinates to assess their risk level. The third-party software uses globally comparable information on water risks and allows users to identify and prioritise locations facing the highest physical (water quantity and quality), regulatory, and reputational water risks. We assess water risks in our downstream value chain by engaging internal experts.

We assess opportunities connected to water by engaging internal experts. We analyse dependencies on water at sector level for the wind industry and the metals and mining industry.

Our water and marine resources related impacts, risks, and opportunities are assessed through an impact assessment developed in collaboration with third-party experts, utilizing third-party platforms, and by consulting internal subject matter experts. The assessment covers our entire value chain. During 2025, we aim to collect more robust data to further refine and support the materiality conclusions of our up- and downstream value chain.

By engaging third-party experts in the impact assessment, we get access to leading knowledge and platforms, supporting a more thorough analysis and conclusion. The impact of our supply chain is an assessment of water use and water pollution, estimated through sector-country averages based on our procurement spend. Using sector-specific country averages allows impact assessments across many suppliers based on assumptions of water use and pollution.

The impact of our own operations is an assessment of the actual water use across our facilities, while the impact of our downstream value chain is an assessment of water pollution during offshore activities. The analysis of water risks is focused on the level of water stress in the areas where our manufacturing facilities and critical suppliers are located. We use third-party software and geospatial coordinates to assess their risk level. The third-party software uses globally comparable information on water risks and allows users to identify and prioritise locations facing the highest physical (water quantity and quality), regulatory, and reputational water risks. We assess water risks in our downstream value chain by engaging internal experts.

We assess opportunities connected to water by engaging internal experts. We analyse dependencies on water at sector level for the wind industry and the metals and mining industry.

We have not consulted affected communities in the assessment of water-related impacts, risks, and opportunities.

Our biodiversity and ecosystems-related impacts, risks, and opportunities (IROs) are identified through an impact assessment developed in collaboration with third-party experts, utilizing third-party platforms and by consulting internal subject matter experts. The assessment covers our entire value chain. During 2025, we aim to collect more robust data to further refine and support the materiality conclusions.

The impact assessment of our own operations is split into two categories: impacts arising from factories (e.g., land occupation and pollution from paint), and impacts arising from other own operations activities, e.g., service and construction of on- and offshore wind farms and the related emissions from transportation. For our own operations, we consider land use, climate change, air pollution, and water use impacts. The impact on our downstream value chain is an assessment of how wind turbine parks might affect biodiversity and ecosystems during operation.

The analysis of transition and physical biodiversity risks (including systemic risks) is conducted using third-party software solutions, also allowing assessment of biodiversity risks across multiple future looking scenarios and time horizons, and by leveraging internal and external subject matter expertise. See section E1 IRO-1 on page 65 for more information on the scenarios used in the analysis. No specific assessment criteria were applied in the analysis as a consequence of our material biodiversity impact.

We analyse dependencies on biodiversity and ecosystems at sector-level using third-party software. The assessment includes ecosystem services with risk of being disrupted. The analysis of dependencies on biodiversity and ecosystems covers our own operations and up- and downstream value chain.

The analysis of transition and physical biodiversity risks (including systemic risks) is conducted using third-party software solutions, also allowing assessment of biodiversity risks across multiple future looking scenarios and time horizons, and by leveraging internal and external subject matter expertise. See section E1 IRO-1 on page 65 for more information on the scenarios used in the analysis. No specific assessment criteria were applied in the analysis as a consequence of our material biodiversity impact.

The analysis of transition and physical biodiversity risks (including systemic risks) is conducted using third-party software solutions, also allowing assessment of biodiversity risks across multiple future looking scenarios and time horizons, and by leveraging internal and external subject matter expertise.