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ACCELERATING GROWTH INTEGRATED ANNUAL REPORT 2025
1. Premise 2 2. Financial and Sustainability highlights 4 3. ESRS 2 – General disclosures 8 4. E – Environmental disclosures 50 EU Taxonomy 50 E1 – Climate change 66 E2 – Pollution 94 E3 – Water and marine resources 106 E4 – Biodiversity and ecosystems 114 E5 – Resource use and circular economy 130 5. S – Social disclosures 149 S1 – Own workforce 152 S2 – Workers in the value chain 198 S3 – Affected communities 214 S4 – Consumers and end-users 232 6. G – Governance disclosures 247 G1 – Business conduct 250 7. Appendices 8. Certiﬁcation of the Sustainability Statement pursuant to art. 81-ter, paragraph 1, of Consob Regulation no. 11971 of May 14, 1999 as amended and supplemented 314 9. Audit report on Sustainability Consolidated Statement 315 Contents SUSTAINABILITY STATEMENT DIRECTORS’ REPORT Letter from the CEO 00 Letter from the Chairman of the BoD 00 Letter from the Chair of the Sustainability Committee 00
PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 1. Consolidated Financial Statements Schemes 390 2. Explanatory Notes 396 3. Certiﬁcation of the Consolidated Financial Statements pursuant to art. 81-ter of Consob Regulation 11971 dated May 14, 1999 as amended 501 4. Auditors’ report 502 1. Directors’ report 514 2. Financial Statements Schemes 522 3. Explanatory Notes 528 4. Certiﬁcation of the Separate Financial Statements Pursuant to art. 81-ter of Consob Regulation 11971 dated May 14, 1999 as amended 583 5. Auditors’ report 585 6. Report of the board of statutory auditors 592 1. Signiﬁcant events during the year 326 2. Business environment and ﬁnancial markets 324 3. Group performance and results 338 4. Risk factors 362 5. Other information 384 6. Business outlook 385 7. Certiﬁcation pursuant to art. 2.6.2 of the Italian stock exchange market regulations 386 00 00 CONSOLIDATED FINANCIAL STATEMENTS FINANCIAL STATEMENT PARENT COMPANY FINANCIAL STATEMENT 00
IV PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 LETTER FROM THE CHAIRMAN OF THE BoD I would like to thank each and every one of our stakeholders for the interest and trust you have placed in Prysmian. As a public company, we take our responsibility to ensure clear, transparent, and accountable governance very seriously. It forms the foundation of what makes Prysmian a successful company as we look to create sustainable long- term value. 2025 has been a year of value-creation for Prysmian and its stakeholders, underlined by the excellent results – both ﬁnancial and in terms of sustainability – that you will read about throughout this report. One of the distinctive attributes of this company is the positive impact it makes through its business. This company’s engineering excellence, coupled with its vision for introducing new, sustainable solutions, goes a long way toward unlocking many of the challenges our world so desperately needs to tackle. From developing secure and reliable energy networks to integrating renewables for energy independence; from new electriﬁcation use cases to decarbonizing the industry and creating the digital connections that deﬁne our modern way of life, Prysmian is part of the solution, also as the energy and digital spheres increasingly intertwine. Our corporate governance, starting from our Board of Directors and Board Committees, ensures that the company and its management are in the right condition to take full advantage of these opportunities and overcome any challenges our quickly evolving world may present in the meantime. Prysmian’s leadership is underpinned by its capacity to innovate to create a real impact for customers and society through its solutions. This is why we decided, starting this year, to expand the scope of the former Sustainability Committee. It has become the Innovation and Sustainability Committee, in line with the approach the company shared last March at Capital Markets Day in New York City. We have revised our governance toward business priorities and the company’s core conviction that sustainability-driven innovation can unlock long-term value creation. Thanks to the activities carried out by our Committees, the Board also oversees succession plans and the development and retention of talent, which are essential pillars to ensure growth and strengthen the Group’s leadership. There can be no long-term value creation without valued people. Therefore, in closing I would like to take a moment to thank our talented Prysmian employees around the world. I have been a member of Prysmian’s Board of Directors for a few years now – and this is my second year as Chair – but I never stop learning. I never stop meeting new people here, tapping into new energy. Everyone I have met has left me with the conﬁdence that we have the right culture, and the right determination to keep building on this platform. I would also like to thank my colleagues on the Board, the Vice-Chairman and the CEO. Their skill, strategic vision and dedication to this company are fundamental in supporting Prysmian’s growth. Their contribution has provided essential support for achieving the results we have achieved and will continue to be a key factor in our future success. Francesco Gori Chairman, Prysmian
V When we closed 2025 – a signiﬁcant year for Prysmian – I took a moment to reﬂect on what we have achieved. Our progress has been remarkable. We have exceeded our goals, set new records and strengthened our leadership position around the world. Progress isn't just about ﬁnancial results: 2025 marked a profound cultural and organizational evolution. We have accelerated. I'm not just referring to numbers or sustainability targets, crucial as they are. I'm talking about an acceleration in our ability to seize market opportunities, to create value by listening to our customers, to develop solutions and services that make Prysmian truly unique. All of this has been possible thanks to the commitment of our almost 34,000 colleagues, active in 109 plants, 30 research centers, and all our ofﬁces around the world. As we shared in New York last March, the opportunities that await us remain signiﬁcant. Accelerating digitalization, the roll-out of data centers, and the application of artiﬁcial intelligence – to name only a few – are also generating new demand: a need for safe, reliable, and resilient electrical and digital infrastructures. In this context, Prysmian's role is increasingly strategic. Our position comes with signiﬁcant responsibility. We are the market leader because we lead in technology and innovation, and because we place great value on the growth of our people and the communities in which we operate. We hold a responsibility to collaborate with suppliers and customers who share our values, contributing to the sustainable development of the entire value chain. Our ﬁnancial strength and track record of delivery represent a growth platform that we will continue to strengthen. In 2025, we accelerated both organically and through targeted M&A transactions. I’m referring to the acquisition of Channell, which expanded our presence in the world of Digital Solutions in North America, and to the acquisition of Xtera and ACSM. These last two companies will further strengthen our leadership in the Transmission business through both vertical integration and expanding the service portfolio our Group can offer. This path runs parallel to the progressive repositioning of Prysmian, as we evolve from cable producer to a global world-class solutions provider capable of offering unique, high value-added systems and services. Acceleration was the cornerstone of the "Accelerating Growth" plan presented in New York last year and shares the title of this Annual Integrated Report, and I am proud to have seen it take shape in 2025. But 2025 is only the beginning of a new growth cycle. The results demonstrate this, both ﬁnancially and in terms of sustainability: we have achieved record levels of revenue, proﬁtability, and free cash ﬂow. We have made signiﬁcant progress in reducing greenhouse gas emissions across the entire value chain, increasing the use of recycled materials in our products, and have grown revenues from sustainability-linked solutions. But there is a single number – 50 – that best sums up the value of our journey. At the end of the year, 50% of our employees were shareholders in the company. It's tangible proof that the value we generate is truly earned and shared by all. The results that we have achieved are undoubtedly worth celebrating. They will take on even deeper meaning if we can transform these results into new growth in the months and years to come. That’s our commitment. LETTER FROM THE CEO Massimo Battaini Chief Executive Ofﬁcer, Prysmian
VI PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 True leadership is hard-won and harder to sustain. It demands more than strong ﬁnancial performance – it demands accountability for our impact on people, communities, and the planet. Prysmian takes that responsibility seriously. As a global leader in the development and modernization of energy infrastructure and digital connectivity, our reach is vast – and so is our obligation to the communities we serve. Our role as members of the Innovation and Sustainability Committee is to ensure innovation and sustainability is not a footnote to strategy – it is the strategy. Long-term value creation and positive, measurable impact are one and the same. This approach was most clearly expressed through our decision to place innovation and sustainability at the heart of Prysmian's Capital Markets Day in New York in March 2025. The ambitious targets set for reducing greenhouse gas emissions, sustainability-linked revenues, the circular economy, and the development of new solutions demonstrate how these principles are now an integral part of the Group's business model, strengthening its position as a responsible company oriented on the long-term. In the past year we delivered real, measurable results: carbon emissions were reduced by 40.2% in Scope 1 and 2, and by 59.7% in Scope 3. Prysmian has committed to achieving Net Zero by 2035 – ﬁfteen years ahead of our previous target. We are also targeting Net Gain on biodiversity by 2035. Starting in 2025, the Group became a TNFD (Taskforce on Nature-related Financial Disclosures) adopter, aligning our strategy and reporting with international standards for managing nature- related risks and opportunities. To support the circular economy, the company has increased its use of recycled materials – polyethylene jackets and copper in particular – to 21.3% of all material acquired. Sustainability- linked revenues have reached 44.2%, providing a clear indicator of our ability to develop, together with our customers and suppliers, innovative and sustainable solutions. Our target of 55% sustainability-linked revenues by 2028 reﬂects how deeply sustainability-driven innovation is embedded in what we do. From 2026, our Committee becomes the Innovation and Sustainability Committee. Not a rebranding – a statement of intent: innovation and sustainability are inseparable. These objectives are steps along a development path that will lead the Group even further into the future. Prysmian has continued to grow, including through acquisitions. The ability to successfully integrate acquired companies is part of Prysmian's DNA and will continue to be a key factor in ensuring that all newcomers share our compliance with transparency, integrity and responsibility that have always set our company apart. My thanks go to the Group's management, my colleagues on the Board of Directors, and members of the Innovation and Sustainability Committee for their passion, sense of belonging and dedication. Together, we are generating lasting value and a positive impact - for our stakeholders, and for the planet. LETTER FROM THE CHAIR OF THE SUSTAINABILITY COMMITTEE Ines Kolmsee Chairwoman - Sustainability Committee
VII
DIRECTORS' REPORT SUSTAINABILITY STATEMENT
2 PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 PREMISE 2025 was an extraordinary year for Prysmian. The company achieved its best Adjusted EBITDA, Net Income, and Free Cash Flow yet. An integrated focus on revenue-driving innovation and sustainability strengthened its business model and accelerated its growth strategy. This Integrated Annual Report combines ﬁnancial and sustainability disclosures in a transparent and consistent manner, aligning with a strategic vision that permeates every aspect of Prysmian’s operations, creating shared value for all its stakeholders and for society as a whole. The integration of economic results, social outcomes and environmental impacts has been embedded into Prysmian’s corporate decision- making processes. By publishing a uniﬁed report, Prysmian presents the overall effects of the Group’s activities in a clear and detailed manner, reﬂecting a management approach that combines responsibility, innovation, and a focus on seizing global opportunities. This report, prepared by Prysmian to meet its legal obligation to provide integrated ﬁnancial and non-ﬁnancial disclosures, fulﬁlls regulatory requirements and shares insights into key strategies. Consequently, the document has been prepared not only for compliance purposes, but also to play a key role in demonstrating how the Group combines sustainability and ﬁnancial considerations to achieve its long-term vision. In this context, the report demonstrates how investments and actions orchestrate a balance between competitiveness and sustainable growth. Integrated presentation of the ﬁnancial and non-ﬁnancial data contained in the report reveals how the Group views the reciprocity of sustainability and innovation as decisive factors in the creation of value over time. These synergies reinforce Prysmian’s commitment to a future in which social and environmental responsibility guide the Group’s actions, creating beneﬁts for the local communities in which it operates and protecting the global environment, even as it continues to deliver strong proﬁts. The separate and consolidated ﬁnancial statements have been prepared in compliance with IAS/IFRS international ﬁnancial reporting standards issued by the International Accounting Standards Board and published in the Ofﬁcial Journal of the European Union. The sustainability reporting complies with the European Sustainability Reporting Standards (ESRS), introduced by European Union Directive 2022/2464 on Corporate Sustainability Reporting (the CSRD).
3 Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement
4 PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 1 Adjusted EBITDA is deﬁned as EBITDA before income and expenses for business reorganization, non-recurring items and other non-operating income and expense. REVENUES (M€) 19,650 17,026 (2024) % Change: 15.41 ADJUSTED EBITDA 1 (M€) 2,398 1,927 (2024) % Change 24.44 NET PROFIT/(LOSS) (M€) 1,294 748 (2024) % Change 73.00 DILUTED EARNINGS/(LOSS) PER SHARE (€) 4.30 2.52 (2024) NET INVESTED CAPITAL (M€) 10,056 9,903 (2024) Change: 153 NET FINANCIAL DEBT (M€) 3,097 4,296 (2024) Change: -1,199 FINANCIAL HIGHLIGHTS
5 Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement 1 Channell is not included in the data shown, as set out in detail in the section ESRS 2 – General Disclosures and in the Methodological Note in this report. 2 Reduction in GHG emissions linked to operational sites (Scope 1 and 2) versus 2019, in line with SBTi target. Scope 2 is calculated using a Market-based method. 3 Reduction in GHG emissions linked to the upstream and downstream value chain (Scope 3) versus 2019, in line with the SBTi target. The reduction has been calculated taking into account the methodological update; for further details, please refer to the Target section of the ESRS E1 chapter in this document. 4 Percentage by weight of recycled content in certain materials purchased. The scope of the indicator includes 1) copper purchased at Group level, excluding occasional suppliers and semi-ﬁnished products and 2) polyethylene used for cable jackets, excluding applications for which customers do not allow the use of secondary materials. For further details, please refer to the Methodological Note section of this document. 5 Percentage of total Revenues generated by products and solutions with a net positive environmental impact, or a reduced negative environmental impact compared with industry standards. Sustainability-linked revenues, as deﬁned in the OI-R&D-CD-002 operating procedure, are revenues from products and solutions that meet E Path, E3X, Green Overhead Lines, Green Al Rod & Strip, Sirocco and Transmission BU criteria. The classiﬁcation of the lines is not carried out as required by EU Regulation. For further details, please refer to the Methodological Note section of this document. 6 Women executives (job grade 20 and above) as a share of the total number of executive employees. Job grades of 20 and over refer to the most senior management and leadership positions within the organization. This generally regards key management personnel with broad responsibility for decision-making and resource management and a signiﬁcant impact on the entity's ﬁnancial, social and environmental performance. These management grades make a decisive contribution to deﬁning the entity's policies and governance and to implementing sustainability goals. The KPI demonstrates the Group’s ability to both promote people to leadership roles from within the organization and to hire them in the market, in addition to its ability to retain talent. 7 Number of employees who hold Prysmian shares held in the Company’s administrative accounts through the GROW, YES and BE IN plans as at December 31, divided by the total number of employees eligible to participate in at least one of the plans. REDUCTION IN SCOPE 3 GHG EMISSIONS VS 2019 BASELINE 3 REDUCTION IN MARKET-BASED SCOPE 1 AND 2 GHG EMISSIONS VS 2019 BASELINE 2 59.7% 40.2% 54% (2024) 37% (2024) SUSTAINABILITY-LINKED REVENUES 5 SHARE OF RECYCLED CONTENT IN PE JACKETS AND COPPER VS TOTAL PURCHASED 4 44.2% 21.3% 43.1% (2024) 16.2% (2024) EMPLOYEE SHAREHOLDERS 7 PERCENTAGE OF WOMEN EXECUTIVES 6 50% 22.6% 46% (2024) 19.2% (2024) SUSTAINABILITY HIGHLIGHTS 1
ESRS 2 – GENERAL DISCLOSURES
PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 8 ESRS 2 – GENERAL DISCLOSURES 1 Please note that Channell was included in the Group’s ﬁnancial consolidation scope for a period of seven months, and its potential impacts were assessed as part of the double materiality analysis. This assessment showed that the IROs already reported are adequate to also cover the newly acquired entity and that its contribution to the related quantitative metrics is not material. Therefore, Channell is not included in the scope of this consolidated sustainability reporting, as this does not entail any signiﬁcant impact on the reported results. Basis of preparation Scope of reporting Prysmian’s integrated reporting enables a holistic approach that factors in strategy, governance, production activities, ﬁnancial performance and interactions with relevant social, environmental and economic dimensions. Integration of Prysmian’s sustainability and ﬁnancial reporting not only fulﬁlls its compliance requirements; it is of strategic importance for the Group. The Integrated Annual Report, approved by the Board of Directors on February 25, 2026, consists of Prysmian’s Report on Operations (combining ﬁnancial disclosures and the Sustainability Statement, which includes also disclosures required by the EU Taxonomy Regulation EU 852/2020), and Consolidated and Separate Financial Statements. The data and disclosures reported in the Sustainability Statement refer to all companies forming part of Prysmian as of December 31, 2025, consolidated on a line- by-line basis, with the exception of Channell, acquired by Prysmian in June 2025. It should be noted that Channell, although consolidated within the Prysmian’s ﬁnancial perimeter for a period of seven months, is not included in the reporting perimeter of this Consolidated Sustainability Report 1 . This exclusion is due to the fact that the company’s integration into Prysmian’s North American structure and into the related sustainability reporting systems will begin in January 2026. Given the limited materiality of the company in relation to the overall size of Prysmian, Channell is therefore excluded from the ESG reporting perimeter for the 2025 reporting year. Metrics related to companies liquidated during the year are reported through to the liquidation date. Companies liquidated in 2025 are: Liquidated companies Nation Date Rodco Ltd UK April 8, 2025 Prysmian Projects North America, LLC USA November 5, 2025 P.O.R. S.A.S. France December 19, 2025 General Cable Investments, SGPS, Sociedade Portugal December 29, 2025 The Consolidated Sustainability Statement 2025 is subject to a limited review conducted in compliance with Italy’s Standard on Sustainability Assurance Engagements (SSAE) by PwC S.p.A. In addition, for 2025, Prysmian has voluntarily subjected a selection of performance indicators (please refer to the Appendices section and the Methodological Note in the section “Indicators subject to reasonable assurance”) to a full reasonable assurance review in accordance with International Auditing Standard ISAE 3000 Revised. In addition, subsidiaries are exempt from producing their own sustainability statements under article 29a(8) of Directive 2013/34/EU (please refer to Appendix A for a full list of companies). As of December 31, 2025, no further companies, other than the listed company, Prysmian S.p.A., are required to publish reports under the CSRD. This Sustainability Statement covers the Group’s upstream and downstream value chain, as considered in the materiality assessment conducted to identify material impacts, risks and opportunities. The actions, metrics and targets related to Scope 3 emissions and the percentage of recycled content in PE jackets and copper, described in this document, also include data for the value chain. Please refer to the speciﬁc sections of this document for further details.
Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement 9 Figures for CapEx and OpEx related to certain “Actions” described in the various sections of this document have not been reported. This reﬂects both ﬁnancial signiﬁcance and conﬁdentiality requirements, given the sensitive nature of the information. Situations in which such data are not disclosed are clearly indicated in relation to the relevant action. In certain cases, ﬁgures for CapEx and OpEx are provided, even if not ﬁnancially signiﬁcant. This has been done to give greater substance to the initiatives undertaken. Disclosure on speciﬁc circumstances The Group deﬁnes time horizons in line with ESRS 1 requirements as follows: short term: one year; medium term: one to ﬁve years; long term: over ﬁve years. In this document, speciﬁc metrics include estimated ﬁgures for the upstream and/or downstream value chain, based on indirect sources such as industry averages or other proxy data. Each section includes information on the methods used to calculate KPIs and, where necessary, the related estimates. It should be noted that, in particular, certain Scope 3 data have been estimated using information from industry studies, industry databases, proxy-based calculation models, and data provided by third parties. The accuracy of these estimates depends on the availability and 2 The reported ﬁgures also include Channell, which has a total headcount of 953. quality of the sources used, the reliability of the parameters applied, and the methodological assumptions used. Details of the estimates are provided in relation to the relevant metrics. With regard to certain categories of estimated emissions with a more material impact, Prysmian gathers primary data directly from suppliers. This is done to adjust calculation methods to bring them up to date and develop monitoring and tracking systems to reduce dependence on indirect estimates. This approach aims to ensure greater transparency and reliability of the information shown, in compliance with regulatory requirements. Further information on environmental topics is provided in the following sections dealing with each of the thematic ESRS. Global leadership With a direct presence in over 50 countries worldwide, 109 plants, 30 research and development centers and a workforce of approximately 34,000 2 , Prysmian is the leading provider of solutions for energy and digital connections. The Group is headquartered in Milan, Italy, where it employs approximately 1,000 people. Regional headquarters are located in North America, South America, EMEA and APAC. The total employees is distributed among the different geographic areas as follows: Further details are provided in section ESRS S1-Own workforce. EMEA ~17,000 ~10,200 ~3,400 ~3,000 NORTH AMERICA SOUTH AMERICA APAC
PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 10 LATIN AMERICA Plants Argentina La Rosa Brazil Joinville Poços de Caldas Sorocaba Boa Vista Sorocaba Eden Vila Velha Chile Santiago Colombia Bogota Costa Rica Heredia Mexico Durango Nogales Piedras Negras Tetla 13 Marshall - TX Mc Kinney - TX Nevadart - NV North Dighton / Taunton - MA Paragould - AR Rocky Mount - NC Schuylkill Haven - PA Sedalia - MO Texas-Rockwall 1 - TX Texas-Rockwall 2 - TX Williamsport - PA Willimantic - CT NORTH AMERICA Plants Canada Lapointe Oshawa (Toronto) Prescott St. Jerome St. Maurice USA Abbeville - SC Battleboro Wireway - NC Bridgewater - NJ Claremont - NC Du Quoin - IL Indianapolis - IN Jackson - TN Lawrenceburg - KY Lexington - SC Lincoln - RI Manchester - NH Marion - IN 29 Countries >50 Plants 109 R&D centers 30 Cable-laying vessels 7 Employees ~34,000 PRYSMIAN: GLOBAL LEADERSHIP
Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement 11 APAC Plants Australia Amapro Dee Why JCS Liverpool W&BT China Nantong ZD Shangai 1 Shangai 2 Suzhou Tianjin Yixing Philippines Manila India Chiplun Indonesia Cikampek Malaysia Melaka New Zealand Auckland Thailand Rayong 17 50 EMEA Plants Angola Luanda Czech Republic Velké Mezirící Estonia Keila Finland Ouli EN & TLC Pikkala France Amfreville Charvieu Chavanoz Cornimont Douvrin Gron Montereau Paron Sainte Geneviève Germany Neuernberg & Koeln Neustadt Nordenham Schwerin Wuppertal Hungary Balassagyarmat Kistelek Italy Arco Felice Giovinazzo Livorno Mare Merlino Pignataro Maggiore Quattordio Ivory Coast Sicable Netherlands Delft Eindhoven Emmen Nieuw Bergen Norway Drammen Oman Muscat - OCI Sohar - OAPIL Portugal Morelena Romania Slatina Russia Rybinsk Slovakia Prešov Spain Abrera Santa Perpetua Santander Vilanova Sweden Nässjö Tunisia Grombalia Menzel Turkey Mudanya UK Aberdare Bishopstoke Wrexham
PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 12 Prysmian: Accelerating Growth Prysmian is the global leader in energy and digital connections. Originally founded as Pirelli Cavi e Sistemi in 1879, the company became Prysmian in 2005 following its acquisition by Goldman Sachs. Prysmian debuted on the Milan Stock Exchange in 2007, becoming a fully public company. Today it is controlled by international institutional investors and the company’s primary strategic objective is to create value over the long term. Since its foundation in 2005, Prysmian has established itself as the global leader in its industry, thanks in part to major acquisitions including the purchase of Draka in 2011 and General Cable in 2017. In 2024 the company’s growth journey accelerated, allowing Prysmian to consolidate its global leadership position and build on efforts from the previous year, when the company presented its strategic targets at its ﬁrst-ever Capital Markets Day in Naples. In 2024 Prysmian acquired Encore Wire, a leading US manufacturer of electrical cables. The transaction signiﬁcantly enhanced Prysmian’s position in the US market, making it the overall market leader, and strengthened its product range and geographical portfolio in North America. Encore Wire is known for its integrated, cost-effective operating model, providing quality and rapid service from its standalone, highly efﬁcient manufacturing and distribution center in Texas. In 2024, Prysmian also acquired Warren & Brown, an Australian company specialized in telecom connectivity solutions. These strategic inorganic investments, united with solid long-term secular market trends in the energy and digital sectors, allowed Prysmian to communicate new mid-term targets and update its strategy at a second Capital Markets Day, held in New York City in March 2025. The company’s strategic plan – Accelerating Growth – underpins Prysmian’s evolution from cable manufacturer to global solutions provider, and informs the company’s commitment to creating sustainability-driven innovation. The Group is developing new, high-added-value solutions to drive additional value creation, while taking full advantage of its unique market position thanks to its unmatched synergistic portfolio, which enables it to capture growth faster than its competition. This commitment is also backed by ambitious ﬁnancial and sustainability targets – including a commitment to achieving Net Zero in Scopes 1, 2 and 3 by 2035, ﬁfteen years ahead of the company’s original target. In 2025, the company also supplemented its position as a solutions provider through the acquisition of Channell, an American company and leader in connectivity solutions. Through Accelerating Growth, Prysmian seeks out both organic and inorganic growth opportunities as ways to enhance its global leadership position, while at the same time continuing to create value for customers and stakeholders as the company seizes opportunities arising from the energy transition, energy security, electriﬁcation, decarbonization and digitalization. Targets for 2028 Through “Accelerating Growth”, Prysmian aims to further consolidate its global leadership, leveraging: organic and inorganic growth; enhancing its offer to customers as a solutions provider through sustainability- driven innovation; Prysmian’s unmatched synergetic portfolio; talented and committed people. Prysmian's 2028 Targets: Adjusted EBITDA between €2,950 and €3,150 million (versus €1,927 million in 2024); EPS growth, with CAGR rising between 15% and 19% to €4.60 – €5.20; Free Cash Flow between €1,500 and €1,700 million with an EBITDA conversion rate of over 50%; ROCE between 20% and 22% (up from 16% in 2024) Workforce engagement: over 50% of the workforce to be shareholders by 2028 (achieved 3 years early in 2025), thanks to widely available schemes such as GROW, YES and BE IN.
Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement 13 Business model Prysmian’s business model is built on a strategy centered around sustainable growth, advanced R&D, expansion into new markets, and the acquisition of new technical know-how. The Group’s activities are divided into four operating segments: 1. Transmission: includes the Submarine Power and Land HVDC business units. This operating segment focuses on the transmission of renewable energy through innovative cable solutions. It includes the following high-tech and high value-added businesses: High Voltage Direct Current (HVDC), Network Component High Voltage, Submarine Power, Submarine Telecom, Offshore Specialties and EOSS High Voltage. 2. Power Grid: includes the HVAC (High Voltage Alternate Current), Power Distribution and Overhead Lines business units. These businesses support the modernization of power grids using innovative technologies. The segment is organized into the following 3 In order to address data point SBM-1 40(b), the sectors set out in the draft document “EFRAG Sector Classiﬁcation Standard” were used as a reference. business lines: High Voltage Alternate Current (HVAC), Power Distribution, Overhead Lines, Network Component Medium Voltage/Low Voltage and EOSS Medium Voltage/Low Voltage. 3. Electriﬁcation: includes various energy- related businesses, with an innovative end- to-end product range, designed to meet the growing need for electricity in different market segments, speciﬁcally: Industrial and Construction; Specialties, in turn including OEM, Renewables, Elevators, Automotive, Oil & Gas and Downhole technologies (DHT). Other: sales of remaining products produced on an occasional basis. 4. Digital Solutions: includes the Fiber and Optical Cables, Connectivity, Multimedia & Inside Plant Cables (MMS) businesses, and regards the manufacture of connectivity cables and solutions used in telecommunications networks. The segment is organized into the following business lines: ﬁber optics, optical cables, connectivity components and accessories, OPGW (Optical Ground Wire) cables and copper cables. In accordance with IFRS 8 3 , this below is a breakdown of the Group’s 2025 revenues by operating seg- ment: Revenues by segment – ESRS Revenues by segment – IFRS 8 UdM 2025 Energy Production & Utilities sector Power Grid Euro M 3,811 Energy Production & Utilities sector Electriﬁcation Euro M 10,959 Energy Production & Utilities sector Transmission Euro M 3,262 Media & Communication sector Digital Solutions Euro M 1,618 Total Euro M 19,650 Prysmian serves customers in the energy, tele- communications infrastructure, and industrial sectors, providing solutions ranging from power transmission to data management. Here is an overview of the company’s four operating seg- ments and the customer categories each seg- ment addresses: 1. Transmission: – TSOs (Transmission System Operators) – Utilities – Major power generation plants – Governments and public agencies that are responsible for energy infrastructure. Customers in this segment primarily focus on high-voltage power transmission solu- tions and connections between power plants and distribution networks. 2. Power Grid: – DSOs (Distribution System Operators) – Utilities (both public and private) – Industrial plants with the need to manage electricity distribution. Customers in this segment are involved in managing and maintaining electricity distri- bution networks, with a focus on low- and medium-voltage solutions.
PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 14 3. Electriﬁcation: – Industrial sector (above all for high-capacity electrical systems) – Construction companies (infrastructure and construction) – Automotive, marine and rail sectors – E-mobility sector (e.g., EV charging infrastructure). Customers in this segment are ﬁrms seeking solutions for the supply of electricity to industrial plants, buildings, and other facilities. 4. Digital Solutions: – Major telecommunications businesses – Data centers – Internet and cloud service providers – Wireless and ﬁber optic communications providers. Customers in this segment are primarily ﬁrms seeking advanced data management and transmission solutions, such as telecommunications infrastructure and data centers. The Group does not operate in the following sectors: fossil fuels, chemical production, “controversial” arms production (as deﬁned by the ESRS: landmines, cluster munitions, chemical and biological weapons) or tobacco farming and production. Key aspects of Prysmian’s business model include: 1. Leadership in sustainability-driven innovation Prysmian constantly invests in research and development to create sustainability-driven innovative solutions that respond to global challenges, such as the energy transition, digitalization, and sustainability. The company is at the forefront of the development of cables for renewable energy, smart grids, and high-speed communications, while thinking about the long-term positive impact its solutions can achieve. Prysmian is committed to innovating its products to better meet its customers' needs, with constant attention to the environment and society. This includes the use of low environmental impact materials, the reduction of CO 2 emissions, and the improvement of energy efﬁciency in its factories and production processes. In carrying out its activities, the Group takes particular account of ESG issues and the impacts, risks, and opportunities generated and experienced. In this regard, Prysmian integrates these elements into its strategy. 2. Diversiﬁcation of products and services The ability to diversify and adapt to the needs of different sectors is a distinctive feature of the Group’s model. This has been further strengthened by the acquisitions of Encore Wire, Warren & Brown and Channell. Prysmian is also constantly engaged in expanding its service offering to ensure the company’s ability to provide a full range of energy and communications cable solutions. 3. Global manufacturing and commercial footprint Prysmian’s worldwide manufacturing and distribution network enables the Group to serve a global customer base, with special focus placed on emerging markets and rapidly developing economies. 4. Vertical integration throughout the value chain, from design to production, and from installation to maintenance The aim is to ensure full control over quality, timing, and costs. This approach allows the Group to respond to customer needs rapidly and efﬁciently by offering reliable, tailor-made solutions. Vertical integration enables the Group to optimize production processes, innovate more rapidly, and boost competitiveness in its core energy and telecommunications markets.
Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement 15 Sustainability strategy: Net Zero and Net Gain by 2035 plus new economic and social targets for 2028 During the Capital Markets Day held in New York in March 2025, Prysmian presented an ambitious and structured sustainability strategy, fully integrated with the “Accelerating Growth” strategic plan. This conﬁrms the Group’s desire to responsibly lead the global energy and digital transition. At the heart of Prysmian’s sustainability strategy is its focus on climate, setting the ambitious target of achieving Net Zero throughout the value chain by 2035. This is one of the most challenging goals at an international level and is fully aligned with the standards set by the Science Based Targets initiative (SBTi). The plan targets a signiﬁcant reduction in direct emissions, cutting Scope 1 and 2 emissions by 60% by 2030 and 90% by 2035, compared with the 2019 baseline. This will be achieved through a series of measures designed to optimize energy efﬁciency in factories and increase the use of renewable energy. For Scope 3 (emissions involving suppliers and customers), Prysmian has set an industry- leading emission reduction target of 65% by 2030, extending the Net Zero by 2035 goal to the entire value chain. This part of the plan is particularly complex and challenging, as it requires active engagement and collaboration from the entire supplier ecosystem. Prysmian is committed to establishing lasting partnerships based on sustainability criteria, promoting transparency and the sharing of environmental best practices. Innovation plays a key role in enabling the adoption of low impact production processes and more sustainable materials, driving the supply chain towards more responsible, circular models. Prysmian’s climate strategy also includes a focus on avoided emissions. This reﬂects the development and deployment of innovative technologies, enabling more efﬁcient and sustainable management of energy and digital infrastructures. These innovations include the energy transition activities undertaken by Transmission, the E3X robot used in the smart upgrade of networks, and the Sirocco Extreme compact optical solutions and digital systems for use in predictive and smart maintenance, such as PryID, Alesea, All-Ground, EOSS and Elaspeed S. More details on the Group’s climate strategy are provided in chapter ESRS E1 of this report. ACCELERATION OF PRYSMIAN’S DECARBONIZATION COMMITMENT Percentage reduction in GHG emissions (%) Scope 3 Scope 1&2 Result 2025 Baseline 2019 Target 2030 Target 2035 In line with the 1.5°C trajectory -65% -90% -60% -40.2% -59.7%
PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 16 Another key pillar of the sustainability strategy is protecting biodiversity 4 , where Prysmian has set a goal of achieving Net Gain 5 by 2035 in areas of high ecological value in which the Company operates. To do this, the Group has mapped production sites and infrastructure projects using geographical surveys and industry benchmarks. Prysmian has engaged with local communities and drawn up prevention, compensation and ecosystem restoration plans. Prysmian was one of the ﬁrst manufacturers in the world to adopt the TNFD (Taskforce on Nature-related Financial Disclosures) framework. This commits the Group to provide transparent and standardized disclosures of nature-related risks and opportunities. As a result, this statement includes speciﬁc indicators on the presence of sensitive areas, impacts on terrestrial and marine ecosystems, and environmental mitigation projects (further information on this topic is provided in section ESRS E4). Environmental sustainability is accompanied by ambitious economic and social targets. The Group aims to ensure that over 55% of revenues are sustainability-linked by 2028, and to boost the use of recycled materials in production processes as part of a circular economy approach. In social terms, the Group considers inclusion and active participation to be strategic pillars for the company. By 2028, over 50% of the workforce will be shareholders in the company thanks to widely available programs such as GROW, YES and BE IN. This conﬁrms a corporate culture founded on shared value. In recent years, Prysmian has also strengthened the mapping and measurement of ESG performance 4 The term “Biodiversity”, as used by Prysmian in the 2025 Integrated Annual Report, refers to: “The variability among living organisms from all sources, including terrestrial, marine and other aquatic ecosystems, and the ecological complexes of which they are a part. This includes variation in genetic, phenotypic, phylogenetic and functional attributes, as well as changes in abundance and distribution over time and space within and among species, biological communities and ecosystems.” Sources: Convention on Biological Diversity (CBD, 1992); biodiversity_ga1_sua_ipbes-ipccco-sponsoredworkshoponbiodiversitya ndclimatechange_ama_afa_eca_nxs_tca | IPBES secretariat; ESRS glossary. 5 The term Net Gain refers to a situation in which after all negative impacts, mitigation measures and improvements have been taken into account, the quantity and quality of habitats, species and ecological functions are measurably better than before. throughout its value chain. This has led to adoption of a holistic, proactive approach involving not only direct production activities, but also suppliers, partners and customers. In this way, the Group is reinforcing its competitiveness, improving quality, innovation and market reactiveness. This conﬁrms the Group’s role as a credible and responsible player in the global drive towards a low-carbon economy with a highly positive impact. Prysmian’s Sustainability Impact Scorecard 2023-2025 To set a credible path to sustainability and give substance to the long-term commitments assumed, Prysmian has set clear, measurable short-term goals, with progress monitored annually. To this end, the Group has introduced a three-year impact scorecard (2023–2025, with a 2022 baseline). This includes 12 impact KPIs designed to strengthen measurement, monitoring and disclosure of the results achieved. Each KPI in the scorecard is associated with the European Sustainability Reporting Standards (ESRS) provided for in the CSRD, and reﬂects the Group’s material topics, which were identiﬁed following a double materiality assessment. KPIs were monitored regularly by the Sustainability and Investor Relations teams, and communicated every three months to the Sustainability Committee, ensuring oversight of the progress achieved. Despite the complexities linked to expansion of the scope and the post-acquisition transition, non-ﬁnancial indicators have, in certain speciﬁc cases, recorded a major improvement, with many exceeding various targets set for 2025.
Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement 17 IMPACT SUSTAINABILITY SCORECARD 2023-2025 SDG Related ESRS topic KPI Baseline 2022 Result 2023 Result 2024 Result 2025 Target 2025 S3-Affected Communities Number of households provided with access to electricity from renewable sources (1) 21 mln 55 mln 78.4 mln 111 mln 110 mln Number of households provided with fast digital access (2) 3 mln 9 mln 17.1 mln 20.6 mln 15 mln E1-Climate Change Percentage reduction in Scope 1 and 2 emissions (market-based) vs 2019 baseline (3) 24% 33% 37% 40.2% 38%/ 40% Percentage reduction in Scope 3 emissions vs 2019 baseline (4) 7.5% 10% 54% 59.7% 11.5%/ 15% E5-Circular Economy Sustainability-linked revenues (5) 30% 37% 43.1% 44.2% 40% Share of recycled content in PE jackets and copper (6) 10% 12.8% 16.2% 21.3% 13.4%/ 15.7% S1-Own workforce Percentage of female desk workers hired (7) 44.9% 46% 47.5% 48.4% 46%/ 48% Percentage of women executives (8) 15.7% 18.8% 19.2% 22.6% 20%/ 23% S1-Own workforce Safety Assessment Plan (9) 3.4 4.01 N/A 2.75/5 Leadership Impact Index (10) 55% 57% N/A 57% 57%/ 61% S1-Own workforce Percentage of employee shareholders (11) 37% 46% 46% 50% 44%/ 45% G1-Business Conduct Percentage completion of e-training on topics related to ethics and integrity (12) 75% 89.3% 90% 90% 90% (1) Number of households provided with access to electricity from renewable sources: Estimated number of households connected to renewable energy through Prysmian products. This includes installed capacity through photovoltaic panels, onshore and offshore wind turbines, and interconnections associated with renewable energy production. (2) Number of households provided with fast digital access: Estimated number of households with fast digital access (deﬁned as FTTH, FTTB, DOCSIS 3.0) thanks to Prysmian products. (3) Percentage reduction in GHG emissions (market-based Scope 1 and 2) vs 2019 baseline: Reduction in GHG emissions linked to operational sites (Scope 1 and 2) versus 2019, in line with SBTi target. Scope 2 is calculated using a Market-based method. (4) Percentage reduction in Scope 3 emissions vs 2019 baseline: Reduction in GHG emissions linked to the upstream and downstream value chain (Scope 3) versus 2019, in line with the SBTi target. (5) Sustainability-linked revenues: Percentage of total revenues generated by products and solutions with a net positive environmental impact, or a reduced negative environmental impact compared with industry standards. Sustainability-linked revenues, as deﬁned in the OI-R&D-CD-002 operating procedure, are revenues from products and solutions that meet E Path, E3X, Green Overhead Lines, Green Al Rod & Strip, Sirocco and Transmission BU criteria. The ﬁgure of 44.2% is calculated excluding Channell; including this entity in the scope (in the denominator) the KPI is 43.7%. (6) Share of recycled content in PE jackets and copper: Percentage by weight of recycled content in certain materials purchased. The scope of the indicator includes 1) copper purchased at Group level, excluding occasional suppliers and semi-ﬁnished products and 2) polyethylene used for cable jackets, excluding applications for which customers do not allow the use of secondary materials. (7) Percentage of female desk workers hired: Share of women desk workers on permanent contracts out of the total number of desk workers on permanent contracts. This indicator includes all desk workers hired externally (including recruitment programs) and all conversions from agency/ ﬁxed-term to permanent contracts. (8) Percentage of women executives: Women executives (job grade 20 and above) as a share of the total number of executive employees. Job grades of 20 and over refer to the most senior management and leadership positions within the organization. This generally regards key management personnel with broad responsibility for decision-making and resource management and a signiﬁcant impact on the entity’s ﬁnancial, social and environmental performance. These management grades make a decisive contribution to deﬁning the entity’s policies and governance and to implementing sustainability goals. The KPI demonstrates the Group’s ability to both promote people to leadership roles from within the organization and to hire them in the market, in addition to its ability to retain talent. (9) Safety Assessment Plan: This indicator scores the Group’s various plants based on the maturity of their safety management systems, calculated following an audit conducted by a specialist external company. The indicator consists of four categories with different weightings (governance, employee engagement, risk assessments, injury frequency rate). At the end of the audit, an overall score is assigned on a scale of 1 (minimum) to 5 (maximum). From 2025, this ﬁgure is no longer reported, as the previous KPI has been replaced by the “severity rate”, an indicator deemed to better reﬂect safety levels in Prysmian’s plants. This decision reﬂects the desire to focus on reducing the most serious injuries, taking a broader view rather than focusing only on the total number of injuries. (10) Leadership Impact Index: Index calculated as the percentage of employees who declared a level of engagement with the company of at least 5 out of 7 points in the Speak Up survey conducted by the Company. (11) Percentage of employee shareholders: Number of employees who hold Prysmian shares held in the Company’s administrative accounts through the GROW, YES and BE IN plans as at December 31, divided by the total number of employees eligible to participate in at least one of the plans. (12) Percentage completion of e-training on topics related to ethics and integrity: Includes e-learning conducted through the Group’s business management system and is for all desk workers (excluding business partners, consultants, contractors, employees on leave of 30 days or more and trainees on ﬁxed-term contracts). It is subject to annual approval of the compliance plan by the Board of Directors. Topics may include one or more of the following: code of ethics, anti-corruption, gifts, conﬂicts of interest, Helpline or commercial policy.
PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 18 New Sustainability & Innovation Scorecard 2026-2028 From 2026, Prysmian will introduce a new Sustainability & Innovation Scorecard 2026– 2028. This is an impact scorecard covering a three-year period with a baseline of 2025 and targets set for 2028. The new scorecard forms a key part of the Group’s sustainability roadmap and is a strategic tool for translating ESG commitments and innovation priorities into measurable, monitorable goals that can be integrated into decision-making processes. The Sustainability & Innovation Scorecard 2026– 2028 reinforces Prysmian’s approach to sustainable value creation over the medium/ long term. It will allow the Group to align sustainability and innovation priorities with business strategy and stakeholder expectations. By setting clear targets and performance indicators, the scorecard supports effective management of ESG performance and innovation drivers, facilitating transparency, accountability and continuous improvement. In devising the new scorecard, Prysmian has chosen to ensure continuity with the previous version. The Group has kept key indicators and the previously monitored areas of intervention communicated during the Capital Markets Day (March 26, 2025). These KPIs are fully aligned with the four-year strategic plan and coordinated with the ﬁnancial targets set for the same time horizon. This approach allows Prysmian to ensure consistency in measuring and reporting performance over time. It ensures comparability of the results and effective monitoring of the Group’s progress. The scorecard also includes ESG KPIs that will be reﬂected in remuneration starting in 2026 (the MBO plan and three-year GROW plan), consolidating the link between sustainability, innovation and incentive schemes. At the same time, the Sustainability & Innovation Scorecard 2026-2028 introduces new KPIs speciﬁcally focused on innovation and sustainability. These have been devised to reﬂect the growing role that technology, research and the development of advanced solutions play in the Group’s transformation. Integration of these new indicators will enable Prysmian to further expand its sustainability vision, harnessing human capital, promoting solid and responsible governance and strengthening the Group’s ability to deliver innovation to support the energy and digital transition. The Sustainability & Innovation Scorecard 2026– 2028 was deﬁned through a structured, collaborative process. This involved those corporate functions associated with the various KPIs, guaranteeing an integrated approach. The scorecard was then submitted to the Sustainability Committee for approval, before being presented to the Board of Directors, conﬁrming its importance for both strategy and governance. The Strategy and Sustainability team is responsible for overall management of the scorecard, as for coordinating its deﬁnition and monitoring.
Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement 19 IMPACT SUSTAINABILITY & INNOVATION SCORECARD 2026 - 2028 SDG Related ESRS topic KPI Result 2025 Target 2028 S3-Affected Communities Cumulative number of households provided with access to electricity from renewable sources in the 2025-2028 period (1) 28.9 mln 115 mln Cumulative number of households provided with fast digital access in the 2025-2028 period (2) 3.5 mln 15 mln E1-Climate Change Percentage reduction in Scope 1 and 2 emissions (market-based) vs 2019 baseline (3) 40.2% 50% Percentage reduction in Scope 3 emissions vs 2019 baseline (4) 59.7% 63%/ 65% Avoided emissions in Transmission business during 2025-2028 period (5) 752,321 tCO 2 e 6,500,000 tCO 2 e E5-Circular Economy New Product & Solutions vitality (6) 28.3% 32% Sustainability-linked revenues (7) 43.7% 55% Percentage of recycled content in addressable materials (8) 21.8% 26%/ 29% S1-Own workforce Percentage of women executives (9) 22.6% 25% Percentage of employee shareholders (10) 50% > 50% G1-Business Conduct Percentage completion of e-training on topics related to ethics and integrity (11) 90% 95% (1) Cumulative number of households provided with access to electricity from renewable sources in the 2025-2028 period: Cumulative number of households potentially connected to renewable energy through Prysmian products and solutions. This includes installed capacity through photovoltaic panels, onshore and offshore wind turbines for use in renewable energy production. Unlike the 2023-2025 scorecard, in the 2026-2028 scorecard, the method of calculation has been revised by inputting data from the International Energy Agency (IEA) recalibrated with Prysmian’s market share; this has resulted in a slight change in the result for 2025. (2) Cumulative number of households provided with fast digital access in the 2025-2028 period: Cumulative number of households with access to fast digital access (deﬁned as FTTH, FTTB, DOCSIS 3.0) thanks to Prysmian products and solutions. (3) Percentage reduction in GHG emissions (market-based Scope 1 and 2) vs 2019 baseline: Reduction in GHG emissions linked to operational sites (Scope 1 e 2) versus 2019, in line with the SBTi target. Scope 2 is calculated using a market-based method. (4) Percentage reduction in Scope 3 emissions vs 2019 baseline: Reduction in GHG emissions linked to the upstream and downstream value chain (Scope 3) versus 2019, in line with the SBTi target. (5) Avoided emissions in Transmission business during 2025-2028 period: Emissions avoided thanks to installation of solutions enabling the development of renewable energy by the Transmission business unit, in line with WBSD (World Business Council for Sustainable Development) guidelines. (6) New Product & Solutions vitality: Turnover generated by sales of new products/solutions as a percentage of total turnover over a time-scale of 3 years, starting from the ﬁrst customer order. The time-scale for the Transmission BU is 6 years. New products/solutions consist of market-ready products, systems or services that have required a major commitment in terms of R&D in order to be developed and that contain new elements. (7) Sustainability-linked revenues: Percentage of total revenues generated by products and solutions with a net positive environmental impact, or a reduced negative environmental impact compared with industry standards. Sustainability-linked revenues, as deﬁned in the OI-R&D-CD-002 operating procedure, are revenues from products and solutions that meet E Path, E3X, Green Overhead Lines, Green Al Rod & Strip, Sirocco and Transmission BU criteria. The ﬁgure of 43.7% includes the Channell Group in the KPI’s denominator. (8) Percentage of recycled content in addressable materials: Share of recycled content with respect to total purchases of the following materials: copper, PE for jackets, steel and lead. The addressable volume for lead is limited to the market for extruded submarine cable in Transmission BU; the addressable volume for steel is limited to the market for Overhead Lines in North America; the addressable volume for polyethylene is limited to the market for low and medium voltage cable’s jackets. (9) Percentage of women executives: Women executives (job grade 20 and above) as a share of the total number of executive employees. Job grades of 20 and over refer to the most senior management and leadership positions within the organization. This generally regards key management personnel with broad responsibility for decision-making and resource management and a signiﬁcant impact on the entity’s ﬁnancial, social and environmental performance. These management grades make a decisive contribution to deﬁning the entity’s policies and governance and to implementing sustainability goals. The KPI demonstrates the Group’s ability to both promote people to leadership roles from within the organization and to hire them in the market, in addition to its ability to retain talent. (10) Percentage of employee shareholders: Number of employees who hold Prysmian shares held in the Company’s administrative accounts through the GROW, YES and BE IN plans as at December 31, divided by the total number of employees eligible to participate in at least one of the plans. (11) Percentage completion of e-training on topics related to ethics and integrity: Includes e-learning courses on the Code of Ethics, anti-corruption, antitrust issues and the Helpline, conducted through the Group’s business management system and aimed at all at-risk functions.
OWN OPERATIONS Direct operations UPSTREAM Procurement of raw materials and services High-quality, readily available raw materials form the basis of the ﬁnal product. Prysmian takes a responsible approach to procurement, building solid, long-term relationships with suppliers. Research and development (R&D): cable innovation underpins our competitiveness. Our worldwide R&D centers develop new power transmission and telecommunications solutions. Production: our state-of-the-art plants guarantee quality, security and reliability. Automation and process optimization cut costs and boost efﬁciency. Product use, maintenance and end of life DOWNSTREAM Distribution and logistics: a global network of factories and warehouses guarantees rapid, affordable delivery. Installation and customer care: Prysmian doesn’t just sell cables: we provide technical advice and support for maintenance and the management of complex projects. Our underground and subsea cables incorporate advanced monitoring and preventive and corrective maintenance, covering everything from fault detection through to repair. Life cycle management: Enhanced focus on sustainability: efﬁcient design to reduce losses, recycle materials and manage waste to limit the environmental impact. PRYSMIAN’S VALUE CHAIN PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 20
Research and development (R&D): Materials and cable technology innovations Development of digital solutions Sustainability and decarbonization projects Production: Power cables (HV, MV and LV) Telecommunications cables (ﬁber, data) Cables for subsea connections and offshore wind farms Design and testing: Power transmission systems Urban and industrial power grids Applications for home appliances and electric mobility Digital solutions and smart grids Installation: Subsea domestic and international interconnectors Offshore wind farm projects Subsea telecommunications Supply of processed materials: Base metals (copper, aluminum) Semi-ﬁnished products (paper, insulators, cable jackets, plastics) Supply of ancillary goods and services: Cable-laying ships Utilities (electricity, water, gas) Packaging Logistics and transport services Other technical and industrial services Installation at customer site: Energy and telecommunications infrastructure Industrial and civil solutions Use and maintenance: Performance monitoring Preventive and corrective maintenance After-sales technical support Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement 21
PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 22 An integrated sustainability strategy encompassing the entire value chain: active stakeholder engagement Prysmian’s sustainability strategy is based on an extended, integrated, and systemic vision of the value chain. The aim is to promote sustainable innovation and reduce environmental impacts throughout the product lifecycle, while also reinforcing the organization’s competitiveness and resilience. Prysmian uses a structured approach that combines innovation, collaboration, and digitalization, and leverages the active contributions of all internal and external stakeholders. In this context, ongoing dialogue with suppliers, customers, employees, local communities, and other stakeholders represents a strategic driver of growth and a key channel for developing shared solutions. Engagement activities aim to: gather suggestions for the innovation of processes, products and communication channels; map and understand the impacts generated and incurred by the Group, to more effectively manage risks and reputation; inform, educate and engage all stakeholders regarding material topics for the Group and the areas in which it operates; identify needs, expectations and issues to be reﬂected in the sustainability strategy, building relationships based on trust and transparency. Prysmian’s people are at the heart of this process: through training initiatives, dialogue and direct involvement, they actively contribute to creating more sustainable, innovative and inclusive solutions. The engagement process is structured in accordance with the latest 2015 version of the AA1000SES international standard, developed by AccountAbility. The approach is implemented through a series of both formal and informal physical and digital instruments and channels, capable of harnessing contributions from each actor in the value chain. STAKEHOLDER VALUE CREATION Customers Schools, universities and research centers Local communities Employees and contractors Suppliers Shareholders and investors
Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement 23 Stakeholder Type of engagement Purpose of engagement Customers Field visits by technical and commercial teams Customer satisfaction surveys and interviews to gather insights User data analysis using integrated sensors and software Cable apps and customer portal Listen to and work with customers to offer tailor-made solutions and drive sustainable innovation. The CRM system centralizes interactions and segments the market, facilitating increasingly sustainability-based offerings Shareholders and investors Conferences and roadshows Meeting Shareholders and investors Prysmian is a publicly traded company with a large shareholder base. This means maintaining regular and open dialogue with stakeholders on ESG issues plays a key role in the Company’s integrated strategy and value creation process Schools, universities and research centers Prysmian Academy Local student mentoring programs Invest and promote learning and training as key drivers of improvement and innovation, facilitating the development of innovative ideas resulting in actual products Local communities Local training activities Donations Sponsorships Promote and contribute to the social and economic development of the communities in which the Group operates Employees and contractors Town Hall meetings Ofﬁce open days Create and foster a work environment based on diversity, inclusion and equal opportunity, in which merit plays a central role Suppliers Sustainability audits Supplier Conference Digital assessments Long-term partnerships Promote supply chain sustainability by embedding environmental and social factors in supplier selection processes and monitoring suppliers, incentivizing circularity practices and helping to achieve Scope 3 targets Trade bodies, public organizations Dialogue with institutions and industry experts Play an active role in international forums as an industry leader and trend-setter in the sector Shareholder dialogue Prysmian’s strategic and ﬁnancial communication policy aims to meet the very highest standards of fairness, clarity, and transparency. Corporate activities and procedures are designed to give credibility to the Company’s market communication, with the goal of increasing and consolidating investor trust. This seeks to foster a long-term investment approach to the Company’s shares and avoid information asymmetry. The Group prioritizes making sure that every investor, both current and potential, has access to the same information to make informed investment decisions. Prysmian organizes conference calls with institutional investors and ﬁnancial analysts timed to coincide with the publication of quarterly reports. In addition, the Company promptly informs the market about any action or decision that could have a material impact on its share price and/or performance. Investor relations activity was continuous and intense, with over 600 conference calls and one-to-one or group meetings held both remotely or in person at the Milan headquarters and in leading global ﬁnancial centers such as London, Paris, New York and Milan. Prysmian also participated in numerous industry conferences organized by leading international brokers, as well as roadshows and thematic events focused on speciﬁc topics such as energy transition, digitalization, sustainable innovation and the circular economy. The Group is also increasingly devoting special attention to relations with ESG investors, who focus their investment strategies on environmental, social and governance issues. Ongoing engagement by the Company and senior management, with various activities organized, including the Capital Markets Day and meetings speciﬁcally dedicated to such investors, has further contributed to increasing the weight these investors hold in Prysmian’s ownership structure. The Investor Relations team maintained ongoing relations with institutional investors through the website www.prysmian.com, where recordings of conference calls and presentations to the ﬁnancial community, corporate documents, press releases, and all other information regarding the Group are available in Italian and English.
PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 24 Composition of the shareholder base Institutional investors account for over 76% of the shareholder base. 1.8% Baillie Gifford & Co. 76 % 7.5 3.2 2.8 10.5 6.0% Blackrock Inc 4.1% The Vanguard Group, Inc. 3.1% AllianceBernstein Ltd. 2.6% T. Rowe Price Group, Inc. 2.3% The Capital Group Companies, Inc. 2.2% Amundi 2.0% FMR LLC 2.0% State Street Corporation Other Employees + Directors Treasury shares Retail Institutional investors Source: internal computations based on Nasdaq data. Institutional investors by geographical area A third of institutional investors are from the United States (31%). UK (27%) and French (12%) funds have a major presence. 30.8 US % Italy 4.9 Germany 4.7 Switzerland 3.5 Rest of Europe 11.4 5.3 Rest of the world 27.2 UK France 12.2 Source: internal computations based on Nasdaq data.
Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement 25 Growth and value as drivers of investment Over two thirds (74%) of the share capital is held by investment funds that follow Value, Growth or GARP (Growth at Reasonable Price) strategies. These investors expect share price growth over the medium/long-term and consider the current share price to be undervalued given the prospects offered by the company’s fundamentals. INSTITUTIONAL INVESTORS BY INVESTMENT STYLE 30.7 Growth % Index 13.5 Hedge Fund 3.9 8.6 Other 24.3 GARP Value 19.1 Source: internal computations based on Nasdaq data. The creation of value for all stakeholders is represented by the indicator “economic value generated and distributed”. This indicator, based on the re-aggregation of data from the audited ﬁnancial statements, measures the overall economic wealth created by the Group. The economic value generated in 2025 amounted to €20,951 million, compared with €17,818 million in 2024. Most of this value, amounting to €19,657 million (€17,069 million in 2024), was redistributed to: REDISTRIBUTION OF ECONOMIC VALUE GENERATED 79.14 Suppliers % 11.25 Employee remuneration Capital providers 7.78 1.82 0.01 Local communities Payments to the state
PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 26 Integrated assessment of impacts, risks and opportunities according to the double materiality principle 2025 DMA representation with topics and sub-topics Double materiality as a strategic lever to accelerate growth opportunities Prysmian further developed and reinforced its approach to the assessment of impacts, risks and opportunities (IROs) in 2025. This involved a complete review of the Double Materiality Assessment (DMA) in line with requirements provided in the Corporate Sustainability Reporting Directive (CSRD) and the European Sustainability Reporting Standards (ESRS 1 – General Requirements). For Prysmian, double materiality is not just a question of regulatory compliance. It is also a strategic governance tool that enables the Group to integrate sustainability into the development of its “Accelerating Growth” strategy. Financial Materiality Not Material 2 = ﬁnancial materiality threshold M aterial Not Material 2.5 = impact materiality threshold Material Impact Materiality Financial materiality Financial and impact materiality Impact materiality Material topics where the risks and opportunities were judged to be crucial from a ﬁnancial viewpoint, but where the impacts are less material Material topics the Group has assessed as crucial in terms of impacts, risks and opportunities Material topics where the impacts were judged to be crucial in the Group’s assessment, but where the risks and opportunities are less material from a ﬁnancial viewpoint E1 - Climate Change Climate change adaptation S 4 - Consumers and end- users Social inclusion of consumers and/or end-users G1 - Business conduct Corporate culture Corruption and bribery E1 - Climate Change Climate change mitigation Energy E4 - Biodiversity & ecosystems Direct impact drivers of biodiversity loss Impacts on the extent and condition of ecosystems E5 - Circular economy Resources inﬂows, including resource use Resource outﬂows related to products and services S1 - Own workforce Working conditions Equal treatment and opportunities for all Other work-related rights S2 - Workers in the value chain Working conditions S3 - Affected Communities Communities’ economic, social and cultural rights G1 - Business conduct Management of relationships with suppliers including payment practices E2 - Pollution Pollution of water Pollution of air Substances of concern Substances of very high concern E3 - Water and marine resources Water consumption E5 - Circular economy Waste S2 - Workers in the value chain Equal treatment and opportunities for all Other work-related rights G1 - Business conduct Political engagement and lobbying activities Protection of whistleblowers
Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement 27 Under this approach, the Group carries out a combined assessment of: the impact of its own operations on the environment and on people (impact materiality); the risks and opportunities associated with sustainability that may inﬂuence the Group’s operating and ﬁnancial performance (ﬁnancial materiality). This double perspective allows the Group to identify topics that can inﬂuence strategic decisions, leading to a dynamic balance between the creation of economic value and the generation of positive impacts for stakeholders. Prysmian uses an integrated, structured, and cyclical approach to managing double materiality, with the active involvement of key functions, senior management, and the most representativecategoriesofexternalstakeholders. The review conducted in 2025 resulted in the “Double Materiality Assessment” Procedure. This sets out the responsibilities, timings, assessment criteria, and uniform operational rules for all business units and corporate functions, ensuring process consistency and traceability. ESG topics are positioned in the materiality matrix based on an assessment conducted jointly by internal and external stakeholders. This process takes into account scores related to impacts, risks and opportunities, as well as factors like scale, irremediable character and likelihood of occurrence. The matrix makes it possible to clearly visualize areas of greatest strategic importance, guiding investment decisions, innovation and risk management. All topics included in the matrix are deemed material: although they have been prioritized, each topic contributes to deﬁnition of the Group’s operational and strategic priorities. Non-material topics were initially assessed but have been excluded from the matrix in order to maintain a clear and consistent focus on areas that are high-impact and ﬁnancially material. The 2025 double materiality assessment conﬁrmed the materiality of three topics already identiﬁed in 2024. These continue to have a major inﬂuence on the Group’s strategy: E1 – Climate change S1 – Own workforce G1 – Business conduct The 2025 double materiality assessment not only systematically highlighted ESG risks, but above all strategic opportunities with the potential to broaden the economic value the Group generates. Those linked to the Transmission and Power Grid business units, essential enablers of the global energy transition, play a central role in this regard. The increased ﬁnancial materiality of topics S3 (Affected Communities) and S4 (Consumers and End-users), compared with 2024, is directly linked to growing demand for high and extra high voltage electricity infrastructure, submarine interconnectors and innovative technological solutions that Prysmian is able to offer in rapidly growing markets. Topics E5 (Circular Economy) and S2 (Workers in the Value Chain) continue to appear in the top- right quadrant as being most material, despite a slight reduction in impact materiality compared with 2024. Finally, topics E2 (Pollution), E3 (Water and Marine Resources) and E4 (Biodiversity and Ecosystems) appear in the same quadrant as last year, with perceptions of the related impacts, risks and opportunities remaining broadly stable. Double materiality shows how the opportunities identiﬁed – backed by structural trends such as the electriﬁcation of consumption, massive development of renewable energy and energy security – can give rise to: new revenue streams, linked to the expansion of onshore and offshore network projects; enhanced long-term economic returns, thanks to high-value contracts with lengthy duration; distinctive competitive advantages, through technological innovation, quality and delivery capabilities. These elements now form the basis for developing Prysmian’s strategy, guiding: industrial and investment priorities; market positioning and commercial strategy; dialogue with customers, government bodies and local communities; the integration of ESG criteria into project management.
PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 28 Overall, whilst in line with the approach followed in the previous year, the results of Prysmian’s 2025 assessment reﬂect an increasingly integrated assessment process, designed to create sustainable value and strengthen the link between sustainability and ﬁnancial performance. Double materiality thus acts as a strategic compass for Prysmian, guiding corporate decision-making, anticipating emerging risks and identifying opportunities that result from the transition to a more sustainable future. The methodology used for the DMA: steps in the process The review process consisted of ﬁve main steps, each designed to ensure a full and coherent assessment in compliance with European standards: 1. Planning and context analysis During the initial stages, the Sustainability Reporting team, in coordination with the Strategy & Investor Relations Ofﬁce, conducted an analysis of the regulatory and industry context. This involved analyzing changes in European legislation and best practices adopted by international peers, with the aim of applying any methodological improvements and ensuring alignment with the latest guidance from the European Financial Reporting Advisory Group (EFRAG). 2. Impact assessment: Review of the long list of impacts Based on the outcome of the context analysis, Prysmian proceeded with an in-depth review of the long list of impacts – deﬁning them as: actual/potential, positive/negative. short/ medium/long term – based on their position in the value chain (upstream, own operations, downstream). Each impact was categorized on the basis of four key parameters: scale (severity and magnitude of the impact) scope (geographical extent and duration) irremediable character (ability to repair or reverse the damage, for negative impacts) likelihood of occurrence. In conducting the materiality assessment, Prysmian considered preventive, mitigation or remedial actions with relation to the “likelihood of occurrence” parameter. Segmentation of the Group’s value chain was also redeﬁned as part of this step, distinguishing between cable production and underground and submarine installation. This was done to provide a more accurate representation of the speciﬁc nature of operations and the related environmental and social impacts. The assessment scales have been broadened with respect to 2024, introducing speciﬁc options and details depending on the topic linked to each impact, and aligned with the structure of the topics and subtopics in the ESRS (E1–E5, S1–S4, G1). This change has improved granularity and data traceability within the assessment, ensuring consistency with the risk matrix used in the Group’s Enterprise Risk Management (ERM) system. Involvement of internal and external stakeholders Between July and September 2025, Prysmian conducted a widespread engagement program to gather the views of its most representative internal and external stakeholders. Various corporate functions were involved in this process and tasked with validating, modifying or adding to the long list of impacts, as well as assigning scores to the deﬁned parameters. Externally, the process included institutional investors, key customers, suppliers, academics and industry experts, all of whom were invited to participate via workshops, interviews, and questionnaires. Each stakeholder gave an assessment based on a four-level scale (where 1 = “not signiﬁcant” and 4 = “high impact”), as well as on the three key parameters described above: scale, scope and irremediable character. The average of the resulting scores determined the severity of the impact. This was then weighted with the likelihood of occurrence in order to achieve a ﬁnal score. Impacts scoring higher than the materiality threshold of 2.5 (out of a total of 4) were considered “material” and included in the scope of reporting. Impacts scoring below this threshold were excluded, in compliance with ESRS 1. The table below outlines the meanings assigned to the different impact categories that determine their materiality.
Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement 29 Rating system Description Meaning of impact categories 1 Low Non-signiﬁcant impact Impact generally characterized by limited and localized effects on stakeholders, short in duration and easily reversible, without signiﬁcantly affecting their rights, well-being, or the surrounding environment. 2 Medium- low Moderate impact Impact generally characterized by moderate effects on people and the environment, occurring across a limited number of phases of the Group’s value chain and remediable through moderate efforts in terms of time and costs. 3 Medium - high High impact Impact generally characterized by moderately broad consequences at the geographical level, involving multiple stakeholders and Group’s value chain phases and requiring signiﬁcant mitigation or management efforts due to the difﬁculty of remediation. 4 High Very high impact Impact generally characterized by widespread consequences at a geographical or systemic level, or over the long term, involving multiple stakeholders and requiring structural mitigation or management measures due to the difﬁculty of remediation. 3. Risk and opportunities assessment In addition to the impact assessment, the Group Risk Management team also conducted a review of ESG risks within the ERM system, ensuring methodological consistency with impact and ﬁnancial materiality. This process involved not only the Group’s senior management, but also regional heads and business unit and head ofﬁce team leaders via interviews. Each risk is associated with the relevant ESRS and assessed in terms of its potential ﬁnancial impact, with particular regard to the impact on EBITDA and Free Cash Flow. The opportunities assessment was coordinated by the Sustainability Reporting team, in collaboration with Administration, Finance and Control Department. Interviews were conducted with the Group’s key executives, enabling them to help deﬁne and validate strategic ESG opportunities, which were subsequently classiﬁed as follows: relevant ESG topic (environmental, social or governance); time horizon (short-, medium- or long-term), position in the value chain (upstream, own operations, downstream); magnitude and ﬁnancial nature of the expected impact. This assessment made it possible to quantify the potential contribution these sustainability opportunities can make to value creation within the Group, facilitating their integration into strategic and ﬁnancial planning processes. The following scale was used to assess the ﬁnancial impact of risks and opportunities: Level Description Magnitude Financial impact - Absolute number (based on following year’s outook) 1 Minor/ Insigniﬁcant Minor/insigniﬁcant effect on Ebitda/Free Cash Flow < 10 M Euro Ebitda/Free Cash Flow 2 Moderate Moderate effect on Ebitda/Free Cash Flow 10 - 50 M Euro Ebitda/Free Cash Flow 3 High High effect on Ebitda/Free Cash Flow 50 - 100 M Euro Ebitda/Free Cash Flow 4 Very high Very high effect on Ebitda/Free Cash Flow > 100 M Euro Ebitda/Free Cash Flow
PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 30 In line with the adopted methodology, risks and opportunities with a ﬁnancial impact equal to or higher than 2 – corresponding with a moderate or higher level on the assessment scale – were considered material for reporting purposes. These opportunities are deemed to have the potential to generate tangible or predictable ﬁnancial beneﬁts over the medium to long term. 4. Consolidation, validation and integration within reporting systems On completion of the assessment, the results were consolidated by the Sustainability Reporting team and subjected to cross- validation by the Administration and Risk Management teams, ensuring consistency and robustness of the methodologies applied. The revised materiality matrix was then approved by senior management and distributed to the Board of Directors’ Sustainability Committee. Results and outlook The 2025 DMA process has reinforced the strategic importance of the double materiality principle in driving the integration of ESG and ﬁnancial performance. The adopted approach ensures full methodological traceability, from deﬁnition of the impacts through to quantitative assessment of their ﬁnancial impacts. This allows the Group to have a dynamic, forward-looking vision of risks and opportunities linked to sustainability. In line with guidance provided by the CSRD, the assessment is revisited annually through internal audits, methodological reviews, and industry benchmarks. This ensures a process of continuous improvement, and methodologies are constantly updated to reﬂect changes in legislation and the market. This structured methodology enables Prysmian to strengthen its commitment to making sustainability a pillar of its business model and a key factor in competitiveness and resilience. It also ensures consistency between the management of ESG risks, the creation of value for stakeholders and the Group’s integrated reporting. Operations Management and Continuous Monitoring Over the course of 2025, the second year in which the double materiality process was implemented, Prysmian further consolidated integration of ﬁnancial and non-ﬁnancial impacts within the Group’s operations management and strategy. The Company continues to take a proactive, integrated approach, designed to anticipate challenges linked to ESG aspects and take advantage of the resulting opportunities to support solid, resilient, and sustainable growth. Further information on the decision-making process and internal control procedures related to the assessment of risks and opportunities can be found in the section “Risk management and internal controls”. Internal documentation The following were consulted and revised: Supply Chain Vendor Management Strategy; Desk & Risk Analysis as part of the human rights’ due diligence process; Environmental Impact Assessment and technical project documents related to installation and maintenance work; revised operational plans and ESG risk assessments for the main business areas. External documentation The following were consulted and amended: EFRAG Sector Classiﬁcation Standard (latest 2024–2025 versions); SASB Materiality Finder, with particular regard to the Electrical & Electronic Equipment, Engineering & Construction Services and Telecommunication Services sectors; guidelines and recommendations published by EFRAG in connection with application of the European Sustainability Reporting Standards (ESRS). Prysmian’s management, supervisory and control bodies are regularly engaged in structured, ongoing dialogue designed to keep them informed on the results of the assessment process and stakeholder opinions. Prysmian periodically organizes multi-stakeholder engagement events including customers, suppliers, universities, research centers, investors, and union representatives. This is done to identify needs, expectations, and views to be addressed by the business strategy.
Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement 31 The revised impact, risk and opportunities assessment was presented to members of the Sustainability Committee, the Control and Risks Committee and the Board of Statutory Auditors. This ensures cross-cutting alignment between governance, sustainability, and ﬁnancial performance. In line with the ESRS, by considering both the entity’s impact on the environment and society (impact materiality) and the resulting ﬁnancial risks and opportunities (ﬁnancial materiality), the double materiality assessment allows governance bodies to make informed decisions in the pursuit of increasingly sustainable and responsible strategies. Governance Prysmian ensures that its corporate governance is constantly aligned with the relevant recommendations and regulations, applying both Italian and international best practices. The Group has also adopted principles, rules and procedures governing the conduct of all its organizational and operational structures, in addition to guaranteeing that every transaction is completed in an effective, transparent manner. In 2025, Prysmian continued to adhere to the Corporate Governance Code for listed companies approved by the Corporate Governance Committee. Further information on the below two aspects is provided in the “Report on Corporate Governance and Ownership Structures,” approved by the Board of Directors and available for consultation on the company’s website in the company/Governance section 6 : 6 https://www.prysmian.com/en/Company/Governance 7 https://www.prysmian.com/en/Company/Governance compliance with the principles and recommendations in the Corporate Governance Code and the reasons for non- compliance with one or more of its provisions; corporate governance practices applied by the company that go beyond the related legal or regulatory requirements. Corporate governance structure Prysmian applies traditional forms of governance and control, including Shareholders’ Meetings, a Board of Directors and a Board of Statutory Auditors. Prysmian’s corporate governance structure assigns a central role to the Board of Directors (as the most senior body responsible for managing the company in the interests of shareholders) in providing strategic guidance; in ensuring the transparency of decision-making processes; and in establishing an effective system of internal control and risk management. This covers decision-making processes for both internal and external matters. To complete its corporate governance structure, the company has also established a Control and Risks Committee, a Remunerations and Nominations Committee, a Sustainability Committee and a Supervisory Board set up pursuant to Italian Legislative Decree 231/2001. Further details regarding Prysmian S.p.A.’s corporate governance system and its ownership structure, as required by art.123-bis of Italy’s Consolidated Law on Finance, can be found in the “Report on Corporate Governance and Ownership Structures”, available for consultation on the company’s website in the company/ Governance section 7 , prepared pursuant to art. 123-bis of Italy’s Consolidated Law on Finance. The following chart shows a summary of the corporate governance structure applied by the company as of December 31, 2025.
PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 32 Governance structure Francesco Gori (*) (4) (Chair) Valerio Battista Deputy Chair Massimo Battaini CEO Paolo Amato (*) (5) Independent Jaska de Bakker (*) (5) Independent Pier Francesco Facchini CFO Richard K. Palmer (*) (4) Independent Ines Kolmsee (*) (6) Independent Emma Marcegaglia (*) (6) Independent Susannah H. Stewart (*) (6) Independent Tarak Mehta (*) (5) Independent Annalisa Stupenengo (*) (4) Independent PwC S.p.A. Stefano Sarubbi (Chair) Cecilia Andreoli Nadia Valenti Shareholders’ Meetings Board of Directors (1) Independent Auditor (3) Silvano Corbella (Chair) Jean-Paule Castagno Paola Pulidori Supervisory Board (Legislative Decree 231/01) Ines Kolmsee (Chair) Emma Marcegaglia Susannah H. Stewart Sustainability Committee Paola Pulidori Chief Internal Audit Ofﬁcer Alessandro Brunetti Stefano Invernici Chief Reporting Ofﬁcers Emma Marcegaglia Lead Independent Director Richard K. Palmer (Chair) Francesco Gori Annalisa Stupenengo Remunerations and Nominations Committee Jaska Bakker (Chair) Paolo Amato Tarak Mehta Control and Risks Committee Board of Statutory Auditors (2) (*) Independent Director pursuant to Legislative Decree 58/1998 and the Corporate Governance Code for listed companies (January 2020 edition) approved by the Corporate Governance Committee established by trade bodies (ABI, ANIA, Assonime, Conﬁndustria), Borsa Italiana S.p.A. and Assogestioni. (1) Elected by the Annual General Meeting of shareholders held on April 18, 2024. (2) Appointed by the shareholders’ meeting on April 16, 2025. (3) Elected by the Annual General Meeting of shareholders held on April 18, 2024. (4) Members of the Remunerations and Nominations Committee. (5) Members of the Control and Risks Committee. (6) Members of the Sustainability Committee.
Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement 33 Board of Directors Composition of the Board of Directors: Under the provisions of art. 14 of the company’s bylaws, the company is managed by a Board of Directors, currently consisting of twelve Directors. Non- executive Directors are of sufﬁcient number and have appropriate authority to guarantee that their views carry signiﬁcant weight in the Board’s decision-making. Gender: Seven members of the Board of Directors are men and ﬁve are women (equal to 42%), in compliance with the rules governing gender requirements for the composition of corporate bodies, as applicable at the time of the election of the current Board of Directors. Age: No Director is less than 50 years old, eight are aged between 55 and 60 and four are aged over 60. Election: Two members of the Board of Directors were elected from the slate of candidates nominated by a group of institutional investors and asset management funds coordinated by Assogestioni and voted for by a minority of shareholders with voting rights attending the annual general meeting (12.8%). The other ten Directors were elected from a slate of candidates submitted by the outgoing Board of Directors and voted for by a majority of shareholders with voting rights attending the annual general meeting (86.2%). 8 https://www.prysmian.com/en/Company/Governance POWERS: The Board of Directors is vested with the broadest powers for ordinary and extraordinary administration, except for matters reserved solely for shareholders. The Board of Directors has elected a Chief Executive Ofﬁcer from among its members. The CEO also holds the role of General Manager. He is vested with the authority and powers of ordinary administration necessary or useful to conduct the Company’s business. The Directors are responsible for managing the Company, carrying out the transactions needed to fulﬁl its business purpose. The Board of Directors is also responsible for the Group’s internal control and risk management system. As a result, they are required to assess its adequacy and establish system guidelines. They may avail themselves of the support of the other bodies involved in the internal control and risk management system, namely the Control and Risks Committee, the Director with responsibility for the internal control and risk management system, the Chief Audit Ofﬁcer, the Board of Statutory Auditors and the Chief Reporting Ofﬁcers. Independent members: 75% of the members of the Board of Directors are independent. Further information on the composition, election and functions of the Board of Directors is provided on the Company’s website 8 , in the section ‘Corporate Bodies’ and in the “Report on Corporate Governance and Ownership Structures”.
PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 34 The following is a list of Directors qualifying as independent under art. 148, paragraph 3 of Legislative Decree 58 of February 24, 1998 (Consolidated Law on Finance) and art. 2 of recommendation 7 in the Corporate Governance Code. Members (1) Year of birth First elected (2) Current term (3) Executive Independent Meetings (4) Francesco Gori ( * ) Chair – 1952 9/18/2018 from 4/18/2024 to 2027 Independent 11/11 Valerio Battista ( * ) Deputy Chair - 1957 12/15/2005 from 4/18/2024 to 2027 Non-independent and non-executive 10/11 Massimo Battaini ( * ) CEO and General Manager – 1961 2/25/2014 from 4/18/2024 to 2027 Executive 11/11 Paolo Amato ( ** ) Director – 1964 4/12/2018 from 4/18/2024 to 2027 Independent 9/11 Jaska Marianne de Bakker ( * ) Director - 1970 4/28/2021 from 4/18/2024 to 2027 Independent 11/11 Pier Francesco Facchini ( * ) Director and CFO – 1967 2/28/2007 from 4/18/2024 to 2027 Executive 11/11 Richard Keith Palmer ( * ) (2) Director – 1966 4/18/2024 from 4/18/2024 to 2027 Independent 10/11 Ines Kolmsee ( * ) Director – 1970 4/28/2021 from 4/18/2024 to 2027 Independent 11/11 Emma Marcegaglia ( * ) Director – 1965 4/18/2024 from 4/18/2024 to 2027 Independent 11/11 Tarak Mehta ( * ) Director – 1966 4/28/2021 from 4/18/2024 to 2027 Independent 8/11 Susannah Hall Stewart ( ** ) Director – 1968 4/18/2024 from 4/18/2024 to 2027 Independent 10/11 Annalisa Stupenengo ( * ) Director – 1971 4/28/2021 from 4/18/2024 to 2027 Independent 11/11 (*) Director elected from the slate submitted by the outgoing Board and obtaining a majority of votes. (**) Director elected from the slate submitted jointly by a group of shareholders consisting of asset management companies and institutional investors. (1) The Control and Risks Committee consists of: Jaska Marianne De Bakker (Chairperson); Paolo Amato; Tarak Mehta. The Remunerations and Nominations Committee Committee consists of: Richard Keith Palmer (Chairperson); Francesco Gori; Annalisa Stupenengo. The Sustainability Committee consists of: Ines Kolmsee (Chairperson); Emma Marcegaglia; Susannah Stewart. (2) Date on which the Director was elected to the Board of Directors for the very ﬁrst time. (3) Term of ofﬁce due to expire with the Annual General Meeting called to approve the ﬁnancial statements for the year ended December 31, 2026. (4) Attendance at Board meetings in 2025 (meetings attended /total number of meetings held). In keeping with the approach adopted by most of the English-speaking world and without affecting compliance with regulations from time to time in force, the Board of Directors has decided to use a Board Skills Matrix. This enables the Board to identify existing expertise within the Board and address any gaps. The results are then utilized to indicate the skills that candidates included in slates for election as Directors should possess. The Board Skills Matrix is as follows: Management, strategy, M&A Similar industry Geographies and international experience Technology, R&D, engineering and ICT, digitalization, cybersecurity Finance and risk management Governance Sustainability, ESG and human capital development 80% 55% 72% 55% 72% 68% 80%
Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement 35 Board of Statutory Auditors The Board of Statutory Auditors is responsible for monitoring compliance with the law and the company’s bylaws. It also oversees application of good governance principles in conducting the company’s business and the adequacy of the company’s organizational structure, internal control system and administrative and accounting system. In accordance with art. 21 of the bylaws, the Board of Statutory Auditors consists of three Standing Auditors, including a Chair, and two Alternate Auditors. The current members will remain in ofﬁce until the annual general meeting of shareholders called to approve the ﬁnancial statements for the year ending December 31, 2027. All members of the Board of Statutory Auditors are independent (100%) under both art. 148, paragraph 3 of Italian Legislative Decree 58 of February 24, 1998 (Italy’s Consolidated Law on Finance) and art. 2 of recommendation 7 of the Corporate Governance Code. As of December 31, 2025, two Standing Auditors 9 https://www.prysmian.com/en/Company/Governance 10 https://www.prysmian.com/en/Company/Governance/Committees and one Alternate Auditor are women, whilst one standing auditor (the Chair) and an alternate are men (equal to 40% of members of the Board of Statutory Auditors). This is in compliance with the rules governing gender requirements for the composition of corporate bodies, as applicable at the time of the election of the current Board of Statutory Auditors. The three Standing Auditors, including the Chair, and the two Alternate Auditors were elected from the sole slate of candidates submitted by a group of institutional investors and asset management funds coordinated by Assogestioni and voted for by a majority of shareholders with voting rights attending the annual general meeting (95.8%). Further information on the composition, election and functions of the Board of Statutory Auditors is provided on the company’s website 9 , in the section Corporate Bodies and in the “Report on Corporate Governance and Ownership Structures”. Members Year of birth First elected (1) Current term (2) Independent Code/CLF Meetings (3) Stefano Sarubbi Chair - 1965 4/12/2022 from 4/16/2025 to 2028 yes/yes 18/19 Cecilia Andreoli Standing Auditor – 1980 4/16/2025 from 4/16/2025 to 2028 yes/yes 11/11 Nadia Valenti Standing Auditor - 1974 4/16/2025 from 4/16/2025 to 2028 yes/yes 11/11 Monica Romanin Alternate Auditor – 1969 4/16/2025 from 4/16/2025 to 2028 yes/yes N/A Vieri Chimenti Alternate Auditor – 1966 4/12/2024 from 4/16/2025 to 2028 yes/yes N/A All the Statutory Auditors were elected from a sole slate of candidates submitted by a group of shareholders consisting of asset management compa- nies and institutional investors. (1) Date on which the Auditor was elected to the Board of Statutory Auditors for the very ﬁrst time. (2) Term of ofﬁce due to expire with the Annual General Meeting called to approve the ﬁnancial statements for the year ended December 31, 2027. (3) Attendance at Board of Statutory Auditors’ meetings (13) and at joint meetings with Board committees (6) in 2025 (meetings attended /total number of meetings held; N/A: not in ofﬁce during the period). Employee and worker representation in administrative, management and supervisory bodies is not applicable to Prysmian, as the company utilizes the traditional Italian form of governance, which does not envisage such representation. Board committees The Board of Directors has set up the following Board committees: the Sustainability Committee, the Control and Risks Committee, and the Remunerations and Nominations Committee. The Board elected the committees’ respective members, including chairs. The committees are tasked with conducting in-depth examinations, making recommendations, and providing advice. The committees’ composition, roles and terms of reference are governed by the Corporate Governance Rules adopted by the Board of Directors and available for consultation on the company’s website in the company/Governance/ Committees section 10 .
PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 36 The current committees consist of three non- executive and independent Directors in accordance with the Corporate Governance Code and Consolidated Law on Finance. The term of ofﬁce of each member corresponds with their term of ofﬁce as a Director. Sustainability governance Prysmian further strengthened its internal sustainability governance structure in 2025, establishing the new role of Chief Sustainability, R&D and Innovation Officer. This reflects the Group’s commitment to embedding sustainability and innovation – broadening its impact across all areas of business, from product development and technological progress to operational efﬁciency – as a way to continuously enhance stakeholder value. By combining the leadership of sustainability and innovation, Prysmian aims to accelerate development of solutions supporting the energy transition, the circular economy, and the digital transformation. This will also ensure that sustainability becomes an intrinsic driver of long-term competitiveness and growth. Prysmian’s sustainability governance is organized as follows: 1. The Chief Sustainability, R&D & Innovation Ofﬁcer and the Sustainability team are responsible for: working with the Chief Strategy Ofﬁcer to lead development of the Environmental Strategy, proposing objectives and setting priorities by identifying and monitoring the Group’s material impacts and opportunities; supporting the regions and business units in their implementation of actions and initiatives aimed at achieving the Group’s environmental goals; integrating sustainability and innovation, thereby contributing to achievement of the objectives set; coordinating the Local Sustainability Ambassadors’ Network. 2. The Chief Strategy Ofﬁcer and the Investor Relations team are responsible for: working with the Chief Sustainability, R&D & Innovation Ofﬁcer and the Chief HR & Organization Ofﬁcer to lead development of the ESG Strategy, deﬁning and proposing objectives and setting priorities by identifying and monitoring the Group’s material impacts and opportunities; managing sustainability indices; ensuring the execution of stakeholder engagement activities; supervising and coordinating deﬁnition of the content and preparation of the Sustainability Statement, in collaboration with the Group’s Administrative department. The Chief Strategy Ofﬁcer also serves as the Secretary to the Board’s Sustainability Committee. 3. The Chief HR & Organization Ofﬁcer is responsible for: working with the Chief Strategy Ofﬁcer to lead development of the social strategy, proposing objectives and setting priorities by identifying and monitoring the Group’s material impacts and opportunities; supporting the regions and business units in their implementation of actions and initiatives aimed at achieving the Group’s social goals. 4. The Administrative and Supervisory departments and Chief Reporting Ofﬁcers are responsible for: coordinating the collection of non- ﬁnancial quantitative data; preparing the Integrated Report; contributing to ongoing development of the internal control system for non- ﬁnancial reporting, ensuring data accuracy and quality; ensuring that the sustainability statement included in the Report on Operations is prepared in compliance with the reporting standards applied pursuant to Directive 2013/34/EU of the European Parliament and Council dated June 26, 2013, and Italian Legislative Decree 125 of September 6, 2024, and with the speciﬁcations adopted in accordance with art. 8, paragraph 4 of Regulation (EU) 2020/852 of the European Parliament and Council dated June 18, 2020. 5. The Communication team is responsible for: developing communication campaigns focused on ESG topics; collaborating with the Investor Relations team on the organization of stakeholder engagement.
Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement 37 6. The Local Sustainability Ambassadors’ Network promotes a culture of sustainability, in addition to local and global ESG initiatives and actions at regional level. 7. The Sustainability Committee, consisting of three non-executive and independent directors, oversees sustainability issues related to the company’s business activities and its interactions with all its stakeholders. The Committee has been assigned the following tasks: promoting a policy, to be submitted to the Board of Directors, designed to embed sustainability within business processes, with a view to ensuring the creation of sustainable value over time for shareholders and all other stakeholders; disseminating a culture of sustainability among employees, shareholders, customers and, more generally, stakeholders; assessing the environmental, economic and social impacts of business activities; issuing opinions on the annual and multi- year sustainability targets to be achieved, with speciﬁc reference to the management of related medium- and long-term risks regarding the company and its subsidiaries; monitoring the Group’s ranking in leading sustainability indices; providing opinions on initiatives and programs promoted by the Group or subsidiaries related to Corporate Social Responsibility (CSR); examining the Sustainability Statement, containing sustainability data pursuant to Italian Legislative Decree 125 of September 6, 2024, as prepared by the relevant departments. 8. The Board of Directors, with the support and on the recommendation of the Sustainability Committee, approves the ESG strategy and the most signiﬁcant ESG goals. Prysmian applies an evolutionary risk management system that promotes proactive management of risks and opportunities via a structured and systematic tool designed to support key corporate decision-making processes. This Enterprise Risk Management (ERM) model, developed in line with internationally- recognized models and best practices, such as the Committee of Sponsoring Organizations of the Treadway Commission (COSO) and the ISO 31000 standard, enables the Board of Directors and management to make an informed assessment of risk scenarios that might jeopardize the achievement of strategic objectives. It also allows for the adoption of additional tools to anticipate, mitigate or manage signiﬁcant exposures, and to pursue opportunities in line with the Group’s risk appetite (the type and extent of the risks that Prysmian is able and willing to assume). This system, called the Group Risk Model, covers all types of risk that are potentially relevant to the Group. Risks have been subdivided into ﬁve main categories: Strategic risks relating to the business and sector in which Prysmian operates, Operational, environmental, social and governance risks, Legal and compliance risks, Financial risks, Planning and reporting risks. Together with management, the Group Chief Risk & Compliance Ofﬁcer (CR&CO), appointed to oversee the ERM process, is responsible for ensuring that the main risks affecting Prysmian and its subsidiaries are promptly identiﬁed, assessed, managed and monitored over time by the risk owners designated for each speciﬁc risk. Moreover, new, emerging or evolving risks are identiﬁed and assessed each year via sector reports and interviews with management. At periodic meetings with the Control and Risks Committee, consisting of non-executive members of the Board of Directors, the CR&CO updates the Committee on the outcomes of analyzes, risk assessments and risk mitigation actions, as well as on any developments in the Group’s ERM program. The CR&CO ﬁrst reports to an internal risk management committee, consisting of the Group’s senior management. Within the scope of the Control and Risks Committee, the committee is also updated, at least once a year, on any new topics for which more in-depth training is required, including new risk management and monitoring tools and methodologies. Identiﬁcation of the main impacts generated by the Group’s activities on the environment, people, communities and economies is managed by the Investor Relations team, which is responsible for preparing the Sustainability Statement, in
PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 38 cooperation with other departments, including Sustainability, Purchasing, Business Divisions, Manufacturing and Innovation. At regular meetings with the Sustainability Committee, the Chief Strategy Ofﬁcer and the Chief Sustainability Ofﬁcer update the Committee on the outcomes of assessments and actions carried out, as well as on any ongoing developments. In the case of topics of mutual interest, joint meetings may be scheduled between the Control and Risks Committee and the Sustainability Committee. Organizational structure from January 1, 2025 Corporate teams Segments Regions Internal Audit P. Pulidori Strategy, M&A, Investor Relations, Communication M. C. Bifulco Power Grid C. Farisè Latin America G. Soﬁa Europe M. Del Brenna HR & Organization J. Andrews Sustainability, R&D and Innovation S. Siripurapu Digital Solutions F. Persson APAC H. Shroff Risk & Compliance (1) A. Nespoli Finance, Administration and Control & IT P. Facchini Transmission R. Gil North America A. Pirondini Corporate Affairs J. Zirulia Operations J. Arata Electriﬁcation C. Farisè MEART E. Aydogdu Board of Directors CEO M. Battaini (1) Reports also to the Control and Risks Committee on the Compliance Program.
Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement 39 Annual General Meeting of shareholders The Annual General Meeting of Prysmian S.p.A.’s shareholders was held in a single call on April 16, 2025. The AGM was called to deliberate on the following agenda items: approval of the ﬁnancial statements for the year ending December 31, 2024; appropriation of proﬁt for the year and payment of the dividend; the election and remuneration of the Board of Statutory Auditors for the three-year period 2025-2027; authorization for the buyback and disposal of own shares; renewal of the equity-based plans for employees, named YES and BE IN, for an additional three years, authorizing the Board of Directors to issue new shares to service the plans; approval of the Remuneration Report; advisory vote on the report on remuneration paid; and, ﬁnally, elimination of the indication of the nominal value of ordinary shares. The AGM, which was attended by 3,828 shareholders in person or by proxy, representing 66.7% of the issued capital, approved all the agenda items by large majorities, while voting against the report on remuneration paid in 2024. The AGM also approved payment of a dividend of €0.80 per share. The dividend was paid on April 24, 2025 and amounted to a total of approximately €229 million. Financial calendar Integrated Annual Report 2025 (consolidated and separate ﬁnancial statement) Board of Directors’ meeting February 25, 2026 Press release and conference call February 26, 2026 AGM to approve the Annual Report for the year ending December 31, 2025 April 16, 2026 Results for Q1 2026 Board of Directors’ meeting April 29, 2026 Press release and conference call April 30, 2026 Half-year interim report for the six months ended June 30, 2026 Board of Directors’ meeting July 29, 2026 Press release and conference call July 30, 2026 Results for 9M 2026 Board of Directors’ meeting October 28, 2026 Press release and conference call October 29, 2026
PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 40 Information provided to administrative, management and supervisory bodies The way Prysmian’s management, supervisory, control bodies and their committees were informed about the following matters in 2025 is described below: 1. Material impacts, risks and opportunities Frequency: Information on risks and opportunities is presented to the Board of Directors and the relevant committees on a six-monthly or annual basis, depending on the nature of the matter in question. Content: Information relates to an overview of the main risks, and the related ﬁnancial, operational and sustainability-related impacts, resulting from external factors, such as changes in legislation, and/or internal factors. Information also relates to opportunities deriving from, among other things, technological innovations or expansion into new markets. These updates also include assessments of ﬁnancial risk (including risk planning and reporting), legal risk, and compliance risk. Responsibilities: The Group’s Chief Risk and Compliance Ofﬁcer, designated to oversee the ERM process, is tasked with guaranteeing, together with management and the functions responsible for second-level controls (e.g., Compliance, Legal Affairs, Sustainability, Finance), that the main risks/opportunities related to Prysmian and its subsidiaries are identiﬁed, assessed, managed and monitored over time, in line the Group’s Risk Appetite. 2. Implementation of due diligence Frequency: The Board of Directors is updated regularly, generally at its six-monthly or annual meetings, on legal compliance. In certain cases, the updates may also take place on a quarterly basis. Content: The updates regard implementation of governance policies, due diligence practices in daily transactions and aspects of compliance with international regulations related to sustainability, safety and social responsibility. Responsibilities: The Sustainability team, in collaboration with the Investor Relations, Risk Management, Compliance, Legal Affairs and Finance teams, is responsible for monitoring sustainability-related matters. The purpose is to embed sustainability in business processes, ensuring the creation of sustainable value over time. The Sustainability Committee is tasked with supervising sustainability-related matters linked to conduct of the Group’s business and the process of engaging with all stakeholders. 3. Outcomes and effectiveness of the policies, actions, metrics and targets used to address impacts, risks and opportunities Frequency: Updates on the effectiveness of the policies adopted and the outcomes of the actions taken are presented regularly on a six-monthly or annual basis. Committees, such as the Remunerations and Nominations Committee, the Control and Risks Committee and the Sustainability Committee, receive speciﬁc updates on metrics related to sustainability targets, monitor the effectiveness of policies and the related actions, and assess the Group’s performance with respect to long-term targets. Content: Updates include detailed information on how the company’s policies are positively or negatively inﬂuencing performance with respect to strategic objectives such as growth, proﬁtability, innovation and sustainability. KPIs and the related metrics are presented, alongside the results achieved with respect to the targets set. Responsibilities: The Sustainability, Finance, HR & Organization and Operations teams are responsible for gathering and presenting this information, and ultimately for reporting it to the administrative, management and supervisory bodies.
Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement 41 Sustainability-related performance in incentive schemes The remuneration policy provides for schemes designed to ensure a tangible and veriﬁable link between remuneration and performance, at both individual and Group levels. Performance is also assessed with reference to ESG goals. The above-mentioned Sustainability Impact Scorecard (2023-2025) has been integrated into both the short-term (MBO) and long-term (GROW) remuneration schemes described below. From 2026, the new scorecard will be similarly integrated into remuneration schemes, ensuring a continuing link between ESG performance and incentives. A portion of the short- and long-term variable remuneration of all managers, including executive Directors and key management personnel, is linked to the achievement of sustainability targets, monitored using ESG indicators. Variable short-term remuneration (the MBO plan) rewards annual performance, based on objective and measurable indicators. The targets for 2025 break down as follows: ﬁnancial targets, with a relative weighting for the purpose of determining a bonus of 60%; team/business unit targets with a weighting of 20%; the ESG target (measured through the speciﬁc scorecard described below) with a weighting of 20%. Variable long-term remuneration (the GROW plan) rewards medium-term performance based on three-year targets. It fosters a convergence of interests in the creation of sustainable value over the medium to long term, strengthening retention of key personnel. The GROW Plan has two components: Performance Shares and Deferred Shares with related Matching Shares. 1. Performance Shares: The free grant of shares subject to the following performance conditions: Cumulative Adjusted EBITDA (20%); Cumulative Free Cash Flow (20%); 11 Sustainability-linked revenues, as deﬁned in the operating procedure OI R&D CD 002, are revenues from products or solutions that meet E Path, E3X, Green Overhead Lines, Green Al Rod & Strip, Sirocco and Transmission BU criteria. E Path is the label used by Prysmian for eco-friendly cable solutions, based on six known and measurable criteria: carbon footprint (Scope 1 & 2); substances of very high concern; circularity; recycling input rate; environmental beneﬁts; transmission efﬁciency (Scope 3). The E Path framework is certiﬁed by Bureau Veritas, an external certiﬁcation body. Further details on KPIs are provided in the Note on Methodology in this document. Average Return On Capital Employed (ROCE) (20%); Prysmian’s relative Total Shareholder Return (rTSR) compared with a peer group consisting of 11 constituents (companies/indexes) (20%); ESG, measured through the speciﬁc scorecard described below (20%). 2. Deferred Share: The free grant of deferred shares representing 50% of the vested amount under the MBO Plans 2023, 2024 and 2025; Matching Shares: The grant, for each deferred share granted, of a further 0.5 free shares; the matching share component for the CEO and senior management must meet the ESG performance condition. Integration of ESG KPIs into incentive schemes: MBO 2026 and GROW 2026-2028 In 2026, Prysmian conﬁrmed the integration of ESG factors into short- and long-term incentive schemes, in keeping with the Group’s sustainability strategy and stakeholder expectations. In terms of the annual incentive scheme (MBO) for 2026, the ESG targets will continue to have an overall weighting of 20%, with two KPIs linked to circular economy and safety, each with a weighting of 10%: Severity Rate (SR), a key health and safety performance indicator; Percentage of recycled content in addressable materials (copper, PE for jackets, steel and lead). In the long-term incentive plan, GROW 2026- 2028, the overall weighting of ESG metrics remains 20%, with a focus on: % of sustainability-linked revenues 11 , representing the percentage of revenues from the sale of products and solutions resulting in a net environmental gain or a reduced net environmental loss compared with industry standards.
PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 42 Prysmian has opted to rationalize the ESG targets included in remuneration schemes to focus on metrics with a greater strategic impact on the business. This will ensure that market changes and investor expectations are reﬂected. The revamped form of ESG KPIs for 2026-2028 fosters ever closer alignment between the creation of sustainable value and management remuneration. It has also been conﬁrmed that, in the event of a fatal accident, the payout linked to ESG KPIs will be zero for the year in question, 12 The ESG indicator for 2025 included in the MBO plan linked to Safety is the Severity Rate. This measures the severity of injuries, deﬁned by the standard formula: number of days lost / hours worked * 200,000. for both annual and long-term incentives. This reﬂects the importance Prysmian places on safety as one of its guiding principles. 2028 fosters ever closer alignment between the creation of sustainable value and management remuneration. It has also been conﬁrmed that, in the event of a fatal accident, the payout linked to ESG KPIs will be zero for the year in question, for both annual and long-term incentives. This reﬂects the importance the Group gives to safety as one of its guiding principles. ESG KPIs included in the MBO Plan 2025 Prysmian’s MBO Plan has included ESG targets since 2021. In keeping with 2023 and 2024, the ESG target for 2025 consisted of a scorecard aligned with the Group’s sustainability strategy that focuses on three key areas: safety, gender balance and environment. The latter is represented by an indicator linked to the circular economy and the use of recycled materials. KPI Weighting Target Max SAFETY Severity rate 12 33% 57 53 GENDER BALANCE % of women hired - Desk workers 33% 46% 48% ENVIRONMENT % recycled material (PE Jacketing and copper) 33% 14.5% 15.7% ESG KPIs included in the GROW Plan 2023-2025 The ESG component of the long-term variable remuneration plan, GROW 2023-2025, is measured using a scorecard that includes the following indicators. Each of the targets shown has been assigned the same weighting of 20%, with thresholds, targets and maximums, against which performance is measured. KPI Threshold 2025 Target 2025 Max 2025 ENVIRONMENT Reduction in greenhouse gas emissions (Scope 1 and 2) 36% 38% 40% % of recycled content in PE and copper jackets 13.4% 14.5% 15.7% SOCIAL % of women in executive roles 20% 21.5% 23% Leadership Index (results of the Speak Up Survey) 57.0% 59.0% 61.0%
Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement 43 Both plans (MBO and GROW) include a mechanism by which, in the event of a fatal accident (involving either an own worker or a non-employee) during the performance period, the bonus linked to ESG KPIs will be zero for the year in question, regardless of the performance achieved. The Group’s remuneration policy provides for central governance combined with local implementation of the programs, in line with the applicable regulatory framework. The remuneration policy for executive Directors and key management personnel is determined following a joint and transparent process, in which both the Remunerations and Nominations Committee and the Board of Directors play a central role. The Committee periodically submits the Remuneration Policy to the Board of Directors for approval and during the year reviews its implementation, regularly engaging with investors to gather feedback and input. Their opinions are considered in the formulation of the Remuneration Policy, which is put to a vote at annual general meetings. Statement on due diligence Core elements of due diligence Sections of the sustainability statement a) Integrate due diligence into governance, strategy and the business model ESRS 2 b) Involve stakeholders in all the key phases of due diligence ESRS S2 c) Identify and assess negative impacts ESRS 2 IRO-1 - ESRS S2 d) Address negative impacts ESRS S2 e) Monitor the effectiveness of actions and report ESRS S2 The complex nature of the Group’s business transactions and its global footprint mean that it is exposed to potential breaches of applicable laws and regulations. This could lead to repercussions for its stakeholders, including employees, customers, contractors, and suppliers. These breaches could also damage the Group’s reputation, have a negative impact on the socio-economic development of the communities in which it operates and restrict market competition. Partly to mitigate such risks, Prysmian has established a governance framework and implemented an internal control system designed to promote integrity and transparency among all business partners and stakeholders, together with rigorous obligatory processes. Among other things, the actions and procedures constituting the internal control system are designed to provide the market with accurate and credible information on the Group’s activities and increase trust in the Group among existing and potential investors, encouraging a long-term approach to investment. In keeping with a risk-based approach, the Group Compliance and Corporate Affairs teams conducted speciﬁc antitrust risk assessments in certain regions in 2025. At the same time, they organized training in the form of classroom and videoconference sessions for several functions that have the highest exposure to the risk of breaches of competition law. Export controls and international economic sanctions: to prevent and mitigate export- related risks, Prysmian has adopted an Export Control Policy and Procedure. Among other things, these provide for the following actions: monitoring of the list of red ﬂag countries, including those subject to restrictions on trade or those deemed to be subject to triangulation risk by the relevant authorities; enhanced due diligence on transactions with red ﬂag countries, including speciﬁc documentary requirements, such as the collection of end-user statements and/or other documentation providing information on the identity of end-users and on the ﬁnal use of products; due diligence on trade and ﬁnancial partners to avoid transactions with sanctioned parties; classiﬁcation of products to identify any restrictions on the export of products (from export bans to the obligation to contact relevant authorities to obtain an export license);
PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 44 basic training on the issue for all employees and targeted training for personnel in the functions most exposed to the application of export controls and international economic sanctions The Compliance team, which includes personnel specializing in international economic sanctions, provides support for the Group, partly through the implementation of IT applications, integrated into management systems. These have the following functions: (i) 24/24 screening of the names of trade partners to promptly identify parties on blacklists issued by the relevant authorities (e.g., the UN, EU, UK and USA); (ii) identify at-risk transactions involving banned products with resulting export bans. In response to the stricter international sanctions introduced by the EU and USA, starting in 2018 Prysmian began to classify products with the aim of identifying any dual use products and/or technologies. From 2020, and on a periodic basis, the Compliance team provides personnel with training on this matter. 13 https://www.prysmian.comen/en/Company/Ethics & Integrity All the compliance policies adopted by Prysmian are published on the company’s website 13 and on the intranet, and are available in all of Prysmian’s ofﬁcial languages, as it is applicable to the entire employee population. Risk management and internal controls Prysmian has adopted a framework for establishing and maintaining a Sustainability Reporting Control System designed to ensure the reliability of non-ﬁnancial reporting and its adherence to relevant regulations and reporting standards. As in the case of ﬁnancial reporting, this framework is based on the CoSO Framework, deﬁned by the Committee of Sponsoring Organizations of the Treadway Commission, used as an international benchmark for establishing, revising, assessing and evaluating internal control systems. 1. Scoping The process of designing, establishing, applying, managing and evaluating the Group’s internal control and risk management system involves deﬁnition of its scope of application, using a top- down, risk-based approach. This ensures appropriate identiﬁcation and adequate oversight of the areas and activities most exposed to the risk of fraud or of unintentional errors related to sustainability reporting. Scoping of the companies, disclosures, and data to which the system applies is conducted on the basis of an assessment and evaluation process. This considers both quantitative and dimensional aspects and qualitative aspects, linked to the risk proﬁle deriving from external and internal factors for each company or process. Continues >>
Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement 45 2. Risk assessment and deﬁnition of controls Entity Level Controls (ELCs) Audit and assessment of the adequacy and effective operation of Entity Level Controls are an essential component of Prysmian’s control framework. ELCs are controls designed to mitigate risks that cut across multiple business areas, the absence or failure of which could undermine the reliability of sustainability reporting. To ensure that the deﬁned ELCs are fully effective, they are assessed and/or audited periodically, or when major changes in the organization or business occur. This process is conducted by the relevant corporate functions with reference to the design and operational effectiveness of the ELCs. Information Technology General Controls (ITGCs) The purpose of ITGCs is to reduce the risk of malfunctions in the information systems relevant to sustainability reporting to an acceptable level. This indirectly reduces the risk of potential errors. The scope of the ITGCs consists of the information systems used in the processing of data presented for sustainability reporting purposes. Assessment of ITGCs uses tools similar to those used in the audit of information systems used for ﬁnancial reporting purposes. The methodological framework used as the basis for deﬁnition and assessment of the IT internal control system, and in particular the ITGCs, is CObIT (Control Objectives for Information and related Technology, drawn up by the IT Governance Institute). Process Level Controls (PLCs) PLCs are speciﬁc process controls deﬁned in relation to the processes underlying sustainability reporting and, consequently, to the indicators being reported, including those associated with the European Taxonomy. The aim is to prevent, detect, and correct any material errors concerning sustainability reporting. PLCs are controls performed throughout the data generation, collection, aggregation and calculation process. An audit of PLCs requires mapping the activities involved in collecting, communicating, consolidating and reporting sustainability data, as well as identifying and assessing risks related to sustainability reporting and related control objectives. It also requires identiﬁcation and assessment of existing process controls to mitigate the identiﬁed risks. Audit of the control system related to the processes underlying sustainability reporting is mapped out in the “Risk & Control Matrix” (RCM) and in speciﬁc procedures. 3. Monitoring Divisions and functions within Group companies included in the scope of reporting are responsible for the correct operation, revision and application of the operating procedures used to gather and process the data provided and the related controls. The Internal Audit team also conducts periodic monitoring in the form of speciﬁc audits. The results are then shared with the people tasked with overseeing implementation, the Chief Sustainability, Innovation and R&D Ofﬁcer, and the Chief Reporting Ofﬁcer. Continues >> >> Continued
PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 46 4. Audits and reporting The Chief Reporting Ofﬁcer receives reports on the outcome of the above audit activities. Where audit activities reveal shortcomings, related to inadequacies in the design of the control being audited or the failure to carry out the control as intended, speciﬁc assessments of the controls are conducted. Corrective actions are then implemented to eliminate the shortcomings. The person responsible for implementing each corrective action is chosen and the related timeline established. Follow-up audits are conducted to verify effective implementation of the actions taken to address any shortcomings and to ensure that the identiﬁed shortcomings in the internal control system over sustainability reporting have been resolved. Periodic reports on audits of the internal control and risk management system are provided to the Control and Risks Committee, the Board of Statutory Auditors and, where deemed appropriate, the Sustainability Committee. 5. Data validation and internal assurance In addition, the Group’s internal control system provides for the following activities to be carried out periodically, and at least annually: validation within the reporting system of the data and disclosures provided by the relevant functions for sustainability reporting purposes, to be carried out by the designated parties; issuance of appropriate internal assurance regarding the accuracy and completeness of the data and disclosures provided for sustainability reporting purposes. Finally, it should be noted that Prysmian has adopted a speciﬁc procedure governing the sustainability reporting process. Speciﬁc training is also provided to parties involved in the sustainability reporting process to raise their awareness of the importance of providing complete and accurate data and disclosures. >> Continued
Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement 47
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E – ENVIRONMENTAL DISCLOSURES
PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 50 E – ENVIRONMENTAL DISCLOSURES 1 Climate Change Mitigation, Climate Change Adaptation, Sustainable Use and Protection of Water and Marine Resources, Transition to a Circular Economy, Pollution Prevention and Control, Protection and Restoration of Biodiversity and Ecosystems. EU Taxonomy The EU Taxonomy, introduced by EU Regulation 852/2020 and in force since January 1, 2022, is a classiﬁcation system aimed at identifying environmentally sustainable economic activities. The Taxonomy was created to boost development of sustainable investments and help to achieve goals set in the European Green Deal. The purpose of the Taxonomy is to ensure the reliability, consistency and comparability of economic activities that are considered sustainable. It is designed to protect investors from greenwashing, assist companies in the sustainable transition, mitigate market fragmentation and close the sustainable investment gap. The following disclosure also makes reference to: Delegated Regulation 2021/2139 (also referred to as the “Climate Delegated Regulation”), which introduces a list of economic activities eligible for the EU Taxonomy for the ﬁrst two climate objectives, and related technical screening criteria; EU Regulation 2021/2178 (hereinafter also referred to as the “Article 8 Delegated Regulation” or “Delegated Regulation on Disclosure”); EU Delegated Regulation 2022/1214 as regards economic activities in certain energy sectors, amending the Climate Delegated Regulation and the Article 8 Delegated Regulation; Delegated Regulation 2023/2485 amending EU Delegated Regulation 2021/2139 by establishing additional technical screening criteria; Regulation 2023/2486 (hereinafter also referred to as the “Regulation on remaining environmental objectives”), supplementing EU Regulation 2020/852, and its technical screening criteria, and amending the Article 8 Delegated Regulation; Delegated Regulation EU 2026/73, amending EU Regulation 2021/2178 with regard to the simpliﬁcation of content and presentation of information on sustainable activities to be disclosed, and Delegated Regulations (EU) 2021/2139 and (EU) 2023/2486, regarding simpliﬁcation of certain technical screening criteria. Regarding the last point, it should be noted that the Group has chosen not to apply the materiality threshold set out in the new Delegated Regulation (equal to 10% of the denominator of the relevant KPI) to any of the three KPIs. The process for determining eligibility The EU Taxonomy deﬁnes as eligible any economic activities described in the Climate Delegated Regulation and in the Delegated Regulation on remaining environmental objectives. To identify Prysmian’s eligible activities, the company conducted a full review of all economic activities it has conducted, determining which fall within the scope of the Delegated Regulations with reference to the six environmental objectives 1 . In June 2025, Prysmian acquired Channell, a leading supplier of telecommunications network solutions. Unlike the approach used for non- ﬁnancial data and information, this company was included in the scope of reporting for the purpose of measuring the taxonomy KPIs, in line with the approach used in the ﬁnancial statements.
Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement 51 With respect to two climate-related objectives, some of the Group’s economic activities, namely activities 3.1, 3.6 and 4.9, have the same descriptions for both objectives. For this reason, they are considered eligible for both the Climate Mitigation and Adaptation objectives. Activities 3.18 and 3.20, introduced by Delegated Regulation 2023/2485, are only eligible for the Mitigation objective. No activities linked to Prysmian’s core business were identiﬁed for the remaining four environmental objectives, and there were no activities related to the fossil gas and nuclear energy sectors. Below are all the eligible activities as described in the Regulation, whether they generate revenue or relate to capital expenditures: TABLE 1 – ELIGIBLE ECONOMIC ACTIVITIES Eu Taxonomy/Economic Activity Description of Prysmian’s activities Environmental objective 3.1 Manufacture of renewable energy technologies Manufacture of cables and accessories for use in renewable energy production (wind and solar) Mitigation and Adaptation 3.6 Manufacture of other low carbon technologies Manufacture of cables and accessories in the following categories with the ability to cut greenhouse gas emissions in the sectors that use them: ﬁber, ﬁber optic cables and ﬁber optic subsea cables for the telecommunications sector; PRY-CAM technology for the accurate remote measurement of key diagnostic parameters, identifying malfunctions and overheating in real time to monitor and optimize energy consumption; E Path (1) labeled cables, the ﬁrst green label in the cables sector Mitigation and Adaptation 3.18 Manufacture of automotive and mobility components Manufacture of cables and accessories for vehicles Mitigation 3.20 Manufacture, installation and servicing of high-, medium- and low-voltage electrical equipment for transmission and distribution of electricity that contributes or allows substantial contributions to the mitigation of climate change Manufacture of cables and accessories for use in power transmission and distribution Mitigation 4.9 Transmission and distribution of electricity Manufacturing, installation, and maintenance projects for HV onshore and submarine systems, HV submarine interconnections and offshore wind farm connection systems Mitigation and Adaptation 7.3 Installation, maintenance and repair of energy efﬁciency devices systems Activities involving the replacement of lighting systems and tradition lamps with energy-efﬁcient systems Mitigation and Adaptation 7.6 Installation, Maintenance and Repair of Renewable Energy Technologies Activities related to the installation of photovoltaic systems to produce electricity from renewable sources Mitigation and Adaptation (1) E Path is Prysmian’s proprietary program designed to identify low-environmental-impact solutions that support the global expansion of clean energy and the deployment of high‑efﬁciency communication systems. For further details, please refer to the company website: https://www. prysmian.com/en/sustainability/e-path
PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 52 The process for determining alignment An economic activity is deﬁned as Taxonomy‑ aligned when it contributes substantially to at least one of the six environmental objectives, does no signiﬁcant harm to the other ﬁve environmental objectives, and complies with the minimum safeguards. Following identiﬁcation of the eligible economic activities, the company conducted speciﬁc assessments and applied the technical screening criteria established by the Regulation and Annexes I and II of the Climate Delegated Regulation. This veriﬁed the alignment of each of the identiﬁed economic activities. As the descriptions for activities 3.1, 3.6 and 4.9 also coincide with the purposes of the Climate Mitigation and Adaptation objectives, an alignment assessment was carried out with respect to both objectives. Regarding the activities 2 introduced by Delegated Regulation 2023/2485 (3.18 and 3.20), the assessment was conducted in line with the approach used in previous years for all identiﬁed activities. The following sections provide feedback on the technical screening criteria for aligned activities. Substantial contribution to the Climate Mitigation objective Assessment of substantial contribution for activity 3.1 Prysmian manufactures cables and accessories for use in the renewable energy sector, in particular wind and solar. These types of cable therefore satisfy the substantial contribution criterion for activity 3.1. 2 Activity 3.18 (Manufacture of automotive and mobility components) and Activity 3.18 (Manufacture of automotive and mobility components) and Activity 3.20 (Manufacture, installation and maintenance of high-, medium- and low-voltage electrical equipment for transmission and distribution of electricity that contribute or enable a substantial contribution to climate change mitigation). 3 Vehicles with no more than 8 seats, excluding the driver’s seat. 4 Vehicles with more than 8 seats, excluding the driver’s seat, and weighing not more than 5 tons. 5 Vehicles with more than 8 seats, excluding the driver’s seat, and weighing more than 5 tons. Assessment of substantial contribution for activity 3.6 The substantial contribution criterion for activity 3.6 requires that the technology concerned be designed to substantially reduce GHG emissions over its life cycle. It also requires that such reduction with respect to the best alternative technologies/solutions/products available on the market be calculated using Commission Recommendation 2013/179/EU (or, alternatively, standard ISO 14067:2018, or standard ISO 14064- 1:2018) and checked by an independent third party. None of the cable families covered by this activity meet the above criterion of substantial contribution. Therefore, in line with previous years, activity 3.6 is not Taxonomy-aligned. It should be noted that, as indicated in the FAQs published by the European Commission in December 2022, application of the substantial contribution criterion for activity 3.6 leaves room for ﬂexibility and is strictly dependent on the sector/activity to which it is applied. Any differences in the reporting of this activity may therefore depend on ﬂexibility of interpretation. Assessment of substantial contribution for activity 3.18 Requirements for the substantial contribution for activity 3.18 state that the components must be for road passenger vehicles (categories M1 3 , M2 4 and M3 5 ), the direct CO 2 emissions (from exhaust) of which are zero. Given the difﬁculty of accurately assessing satisfaction of the alignment criteria, the Group has adopted a prudent and conservative approach to this assessment, considering cables for vehicles not to be aligned.
Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement 53 Assessment of substantial contribution for activity 3.20 The substantial contribution related to activity 3.20 requires that the activity consist of the manufacture, installation or maintenance of current-carrying cabling products and equipment for power transmission and distribution, intended for cabling electrical circuits and transformers provided that such equipment and transformers contribute to increasing the share of renewable energy in the system or improve energy efﬁciency. It is important to note that the cables related to this activity, intended for use in power transmission and distribution, improve energy efﬁciency by deﬁnition. They are used both to replace outdated cables and systems, thus reducing power losses, and to strengthen the HV, MV and LV networks that are needed to connect new, mostly renewable, installed capacity in countries where the Group operates. As stated in criterion 2a, the substantial contribution of this activity also speciﬁes elements of non-compliance, for example, where equipment is directly used to connect or strengthen the connection to a power plant with a greenhouse gas intensity greater than 100 g CO 2 eq/kWh, measured on a life-cycle basis. This requirement leads to critical information retrieval issues due to the peculiarities of operation in the various markets. In most cases, these are based on framework agreements for standard products with predeﬁned purchase volumes and the installation of which is not managed by Prysmian. Therefore, a precautionary approach has been adopted for veriﬁcation purposes that best reﬂects current developments in improvements in the power distribution sector in each country. The approach adopted was to calculate new renewable installed capacity as a percentage of total new installed capacity for each country in which Prysmian operates, extracting data from the database available on the IRENA website. Turnover was then considered in proportion to the average ﬁgure for new renewable installed capacity as a percentage of total new installed capacity for each country in the last two years for which data is available (2023 and 2024). Furthermore, as required in criterion 2a, where Prysmian has evidence of the use of cables for connecting or strengthening the connection of a non-renewable source, such turnover is deemed to be unaligned and therefore excluded from the methodology described above. Speciﬁcally, for 2025, the criterion is not applicable as no such cases arose. Regarding 2b, cables for use in the fossil fuel sector were considered ineligible. Finally, regarding criterion 4, Directive 2009/125 CE does not apply. Assessment of substantial contribution for activity 4.9 As required by the substantial contribution criterion in the Climate Delegated Regulation, consideration is only given to “turnkey projects” for electricity transmission and distribution. The criterion is deemed satisﬁed for all projects entailing installation of infrastructure in the interconnected European system, as required by point 1)a) of the substantial contribution criterion speciﬁed in the Climate Delegated Regulation for activity 4.9. On the other hand, for projects developed in non-European countries, compliance is established via point 1)c) of the substantial contribution criterion of the aforementioned regulation: “1. Transmission and distribution infrastructure or equipment is within an electricity system that meets at least one of the following criteria: […] (c) the average system grid emissions factor, calculated as total annual emissions from power generation connected to the system, divided by total annual net electricity production in that system, is below the threshold value of 100 g CO 2 e/kWh, measured on a life-cycle basis in accordance with electricity generation criteria, over a rolling ﬁve-year period.” Only projects that respect the above criteria meet the substantial contribution criterion for activity 4.9.
PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 54 Assessment of substantial contribution analysis for activity 7.3 The substantial contribution criterion requires that the activity consist of one of the individual measures listed in the Delegated Regulation; the activity is considered aligned with point (d) ‘installation and replacement of energy efﬁcient light sources.’efﬁcient Assessment of substantial contribution analysis for activity 7.6 The substantial contribution criterion requires that the activity consist of one of the individual measures listed in the Delegated Regulation; the activity is considered aligned with point (a) ‘installation, maintenance and repair of photovoltaic systems.’ Substantial contribution to the Climate Adaptation objective Assessment of substantial contribution for activities 3.1, 3.6 and 4.9 The substantial contribution criteria set forth in the Climate Adaptation objective are the same for activities 3.1, 3.6 and 4.9. For these activities, it is possible to say that physical and non-physical solutions (“adaptation solutions”) have been identiﬁed as substantially reducing the most important physical climate risks weighing on the activity (further details on the identiﬁcation of physical risks and climate-related risk and vulnerability assessment are provided in “Climate adaptation” in this section). However, such solutions have not yet been implemented, or there is no possibility of accurately identifying the value of associated ﬁnancial KPIs (i.e., CapEx and OpEx). Therefore, it was not possible to consider these activities aligned with the Climate Adaptation objective. Veriﬁcation of the Do No Signiﬁcant Harm (“DNSH”) criteria for the other ﬁve environmental objectives Compliance with DNSH (Do No Signiﬁcant Harm) criteria was veriﬁed using a top‑down approach. The analysis started at Group level, followed by more in‑depth work and speciﬁc requests at business line, geographical segment and plant levels, as well as with regard to individual activities where necessary. Potential areas of non‑compliance were then identiﬁed and isolated using a consistent and uniform approach. Climate adaptation The DNSH criterion regarding climate adaptation is the same for activities 3.1, 3.6, 3.18, 3.20 and 4.9, requiring compliance with Appendix A of Delegated Regulation 2021/2139. This calls for a thorough climate risk and vulnerability assessment, as well as adaptation solutions. Prysmian has devised an Enterprise Risk Management (ERM) plan, applying models and best practices recognized at an international level, that also assesses climate risks, opportunities and the related actions. As in prior years, a careful analysis of climate- and energy transition-related matters was also carried out in 2025. The climate risks/opportunities considered material for Prysmian have been identiﬁed from among those contained in Appendix A of Delegated Regulation 2021/2139. A climate scenario analysis was developed to determine the impacts associated with these risks/ opportunities over a 10-year time horizon. (The analysis started from an optimistic scenario, then moved on to consider the worst case.) Here below are the scenarios considered for physical risk assessment purposes Best-case scenario Worst-case scenario IPCC RCP 2.6 ("Very Stringent Scenario") IPCC RCP 8.5 ("Business as Usual")
Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement 55 The procedures used to manage climate-related risks include implementation of adaptation solutions that seek to limit the impact of the risks identiﬁed and ensure business continuity. These solutions include constant monitoring of more signiﬁcant risks, preparation of preventive actions, and measures capable of managing sudden or unexpected events. The approach developed by the Group is deemed to satisfy the requirements of the DNSH criteria on climate adaptation. Sustainable use and protection of water and marine resources Regarding the “Sustainable use and protection of water and marine resources” objective, veriﬁcation of compliance with Appendix B of the Climate Delegated Regulation is required. This was veriﬁed with respect to production facilities and related procedures, certiﬁcations and assessments related to activities 3.1, 3.6, 3.18, and 3.20, as there is no DNSH criterion for activity 4.9 related to this environmental objective. 96% of the Group’s plants operate ISO 14001‑certiﬁed environmental management systems, through which the sustainable use and protection of water and marine resource is guaranteed and monitored. Mapping the sites showed that no more than 12% of the sites are located close to the sea (i.e., within two kilometers), and that about 5% of sites located close to the sea could pose a potential hazard to the marine environment. For these sites, the assessment of environmental aspects and impacts, performed through the HSE Management System, enabled implementation of measures to prevent and protect various environmental aspects, including above all surface and marine water. Furthermore, in addition to compliance with legal requirements and the requirements of speciﬁc environmental permits, the sites involved implemented a monitoring and control plan, which in many cases is subject to periodic veriﬁcation by the relevant authorities. The organization’s commitment to preventing and managing the potential negative impacts on water resources is reiterated in speciﬁc policies for water management plans and conﬁrmed by completion of the CDP Water Security Questionnaire. The DNSH criterion related to the “Sustainable use and protection of water and marine resources” objective is therefore deemed to have been met for all activities to which it applies (3.1, 3.6, 3.18 and 3.20). Further information on the Group’s management of water resources is provided in section ESRS E3 in this document. Transition to a circular economy For activities 3.1, 3.6, 3.18 and 3.20, it is necessary to implement techniques that foster a circular economy, from product design to waste management, as outlined below: “The activity shall assess the availability of and, where feasible, adopt techniques that support: a) reuse and use of secondary raw materials and reused components in products manufacture; b) design for high durability, recyclability, easy disassembly and adaptability of products manufactured; c) waste management that prioritizes recycling over disposal, in the manufacturing process; d) information on and traceability of substances of concern throughout the life cycle of the manufactured products.” Prysmian has developed internal procedures for the selection of materials and raw materials, the traceability of substances throughout the production process and the management of environmental impacts. Policies are also implemented at production plant level for the proper collection and disposal of waste, in accordance with Group best practices and the regulatory requirements of the country concerned. Further information on projects and research carried out to foster the transition to a circular economy is provided in section ESRS E5 in this document. Regarding activity 4.9, a waste management plan must guarantee maximum reuse or recycling at the end of the life cycle. The Group has developed a waste management plan that, for projects analyzed and included in activity 4.9, ensures a high level of recycling and reuse during manufacturing and installation phases. Further information on the waste generated and its recycling and disposal is provided in section ESRS E5 in this document.
PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 56 For the ﬁve economic activities indicated above, the techniques, assessments, procedures and management systems adopted by the Group are deemed compliant with all the DNSH requirements for the transition to a circular economy. Pollution prevention and control The criteria in Appendix C of Delegated Regulation 2021/2139 were ﬁrst amended by Delegated Regulation 2023/2485, before being replaced by the criteria set out in Appendix C of Delegated Regulation 2026/73: “Generic DNSH criteria for pollution prevention and control regarding the use and presence of chemicals”. The requirements speciﬁed in Appendix C state that economic activities 3.1, 3.6, 3.18 and 3.20 do not lead to the manufacture, placing on the market or use of any of the chemical substances listed in speciﬁc European Regulations and Directives referred to in the Appendix. Prysmian promptly assessed all reported criteria (letters a 6 ,b 7 ,c 8 ,d 9 ,e 10 ,f 11 ). The assessment was carried out ﬁrst at central level and then at individual production facilities and for individual material codes. This was done by circulating detailed questionnaires to report the totality of the substances to be veriﬁed, with the aim of isolating and excluding any cables containing one or more of the chemicals included in the relevant Regulations and Directives from the scope of alignment. Despite the complexity of requirements set out in Appendix C, Prysmian has undertaken to identify all expected substances and has manually veriﬁed their presence in its production processes and end products. 6 Substances, whether on their own, in mixtures or in articles, listed in Annexes I or II to Regulation (EU) 2019/1021 of the European Parliament and Council, except in the case of substances present as an unintentional trace contaminant. 7 Mercury and mercury compounds, their mixtures and mercury‑added products as deﬁned in Article 2 of Regulation (EU) 2017/852. 8 Substances, whether on their own, in mixture or in articles, listed in Annexes I or II to Regulation (EU) 2024/590, except for any of the following: i) substances listed in Annex I to that Regulation under the conditions of exemptions that apply under that Regulation; ii) substances listed in Annex II to that Regulation for the type of uses permitted for substances listed in Annex I to that Regulation; iii) substances listed in Annex II to that Regulation that are used in ﬁre extinguishers on aircraft or in ﬁre protection systems on aircraft. 9 Substances, whether on their own, in mixtures or in articles, listed in Annex II to Directive 2011/65/EU, except where there is full compliance with the applications listed in Annexes III and IV of that Directive. 10 Substances, whether on their own, in mixtures or in an article, listed in Annex XVII to Regulation (EC) No 1907/2006, except where there is full compliance with the conditions speciﬁed in that Annex. 11 Substances, whether on their own, or in mixtures or in an article, in a concentration above 0.1 % weight by weight (w/w), that meet the criteria laid down in Article 57 of Regulation (EC) No 1907/2006, and that were identiﬁed in accordance with Article 59(1) of that Regulation for a period of at least 18 months, except if it is assessed and documented by the operators that no other suitable alternative substances or technologies are available on the market, and that they are used under controlled conditions. To facilitate and automate substance veriﬁcation as far as possible, in the near future the Group will consider the potential introduction of IT solutions and systems to support these activities. Assessments of activities 3.1, 3.18 and 3.20 that satisfy the substantial contribution criterion found that the majority of cables and accessories analyzed met the requirements, and that Substances of Very High Concern (“SVHC”), identiﬁed in criterion f), were only found in a limited number of cases. In addition, certain cable families were found to have other substances included in the list of substances required in the additional section. Regarding metallic lead, which in some cases is used in the production of submarine cables, it has been demonstrated that there are currently no suitable alternative substances available in the market to replace it. As a result, as provided for in point f), cables containing this substance can, under this exception, be classed as compliant. Accordingly, satisfaction of the DNSH criterion relating to pollution prevention and control was not veriﬁed for the cables identiﬁed as containing one or more of the substances listed by the EU Commission, except as mentioned in the previous paragraph. Regarding activity 4.9, eligible projects are limited solely to those involving underground or submarine cables; accordingly, the DNSH requirements referring to overground lines are not applicable. In addition, no polychlorinated biphenyls (PCBs) are used. As a result, activity 4.9 is deemed to comply with the DNSH criterion for pollution prevention and control.
Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement 57 Protection and restoration of biodiversity and ecosystems The DNSH criterion refers to Appendix D of the Climate Delegated Regulation, which requires the impact of economic activities on biodiversity and ecosystems to be taken into account. At manufacturing plant level (activities 3.1, 3.6, 3.18 and 3.20), for the purposes of compliance with the criterion and in view of the plants’ proximity to highly sensitive areas, positive consideration was given to the environmental management systems implemented to mitigate potential adverse effects, as indicated for the DNSH criterion relating to the sustainable use of water. Eligible projects included in activity 4.9 were subjected to speciﬁc Environmental Impact Assessments and were found to be compliant with Appendix D. Speciﬁcally, environmental action plans were prepared in accordance with the relevant legislation (both local and international) for all projects deemed eligible, in order to protect the variety of animal and plant species affected by the Group’s activities and infrastructure. Where necessary, or as agreed with the local authorities, Prysmian plants participate in protection and restoration of the areas concerned. In all cases, independent of whether or not manufacturing plants or individual projects were considered eligible, environmental assessments were carried out in compliance with the regulations in force in the territories concerned. In addition, the Group has begun a process of mapping areas of environmental concern to create an updated database of the main characteristics and any critical issues in each area. This initiative is part of a Group project to increase the importance of biodiversity issues in the risk management system and in the corporate sustainability strategy. Further details regarding the Group’s impact on biodiversity are provided in section ESRS E4 in this document. The requirements of this criterion are therefore considered to be satisﬁed by both manufacturing sector activities (3.1, 3.6, 3.18 and 3.20) and energy sector activities (4.9). With regard to the capital expenditures considered eligible (activities 7.3 and 7.6), the 12 Communication on interpretation and implementation of certain legal provisions under the EU Taxonomy Regulation and links with the Sustainable Finance Disclosure Regulation (2023/C 211/01). DNSH criterion related to climate change adaptation (Appendix A) is deemed to be met for both activities, as all plants involved are subject to climate risk analysis. An exception is the United Kingdom Headquarter, which was not included in the aforementioned assessment and, consequently, does not comply with the criterion set out in Appendix A for activity 7.3. For activity 7.6, this criterion is the only applicable among the Do No Signiﬁcant Harm requirement; conversely, for activity 7.3, adopting a cautious and prudent approach, and in the absence of sufﬁcient elements to verify compliance, the activity is considered not aligned with the DNSH criterion related to pollution prevention and reduction (Appendix C), and is therefore not considered aligned. Minimum safeguards Regarding compliance with art. 3.c) of Regulation 2020/852, the Group assessed compliance with the minimum safeguards relating to human rights and workers’ rights, corruption, taxation, and fair competition. The assessment considered the design of the Group’s processes and their adequacy in identifying and preventing possible negative impacts, as well as their compliance with the standards and effectiveness with which any events were managed by recourse to corrective actions. In the absence of further clariﬁcation from the European Commission regarding compliance with minimum safeguards, the Group has taken into consideration guidelines presented in the “Final Report on Minimum Safeguards” published by the Platform on Sustainable Finance in October 2022. Furthermore, in the FAQs published in June 2023 12 , the European Commission identiﬁed a connection between minimum safeguards in the Taxonomy and the Do No Signiﬁcant Harm principle in the Sustainable Financial Disclosure Regulation (SFDR). Accordingly, this connection involves compliance with Principal Adverse Impact (PAI) indicators with respect to social and worker- related issues, respect for human rights, and issues related to anti-corruption and anti-
PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 58 bribery. This introduces the possibility of adding indicators to the minimum safeguards, including: the unadjusted gender pay gap; gender diversity in the Board of Directors; exposure to controversial weapons (landmines, cluster munitions, chemical and biological weapons). Information on the ﬁrst indicator is provided in section ESRS S1 in this document. As per the last point above, Prysmian is not involved in the production or sale of controversial weapons. Human rights, including those of workers The commitments Prysmian has made for responsible business conduct in terms of human rights are embodied in the Code of Ethics and the Human Rights Policy, which was revised in 2025. The Group conducts regular due diligence of its suppliers in order to guarantee respect for this principle throughout the supply chain and within the organization. This maps risks throughout the supply chain by analyzing the risk factors attributable to three macro areas: sustainability and management systems; environmental criteria; and human and workers’ rights. Based on the results obtained, the Group arranges for a third party to carry out speciﬁc audits of critical suppliers. 50 audits have been conducted between 2017, the year the onsite sustainability audit program was launched, and 2025. Further information is provided in sections ESRS S2 and ESRS G1. Taxation The Group is committed to managing taxation both at parent company level and in each tax jurisdiction. Prysmian has developed a tax strategy founded on transparency and cooperation with tax authorities and third parties, to minimize the substantial impacts of any tax and reputational risks. This strategy is a key element in its Tax Control Framework (TCF), the system for managing tax risks already applied by the Group’s Italian companies. In addition to the tax strategy, Prysmian has developed policies (such as the Transfer Pricing Policy), tax notes and training courses on the subject. Further information is provided in section ESRS G1. Fair competition Prysmian provides adequate training on the subject of fair competition to increase awareness among those who work in the name and on behalf of the Group, and ensure compliance with competition laws. Further information is provided in section ESRS G1 and in the Antitrust Policy. Anti-corruption The procedures adopted by Prysmian to mitigate the risk of corruption include applying an ISO37001‑certiﬁed anti‑corruption management system and an anti-corruption policy. The company also provides periodic employee training for Third Party Program and Process, Gifts & Entertainment and Conﬂicts of Interest procedures. A policy for management of relations with public organizations was introduced in 2023. In order to ensure respect for the principle throughout the supply chain, the Group provides a Code of Ethics that must be accepted by each supplier and implements the due diligence procedures described above in relation to “Human rights, including those of workers”, that includes consideration of corruption risk factors. Disputes As identiﬁed in the above assessments, Prysmian has not received a ﬁnal conviction for breaches of labor or human rights, corruption and taxation laws, and has not been involved in any cases reviewed by an OECD National Contact Point (NCP) or interrogated by the Business and Human Rights Resource Center (BHRRC). On the subject of taxation, the Group was not ordered to pay any signiﬁcant penalties by the tax authorities of the various countries in which it operates. In the past, the Group has (and continues to be) involved in antitrust investigations and disputes initiated by third parties, resulting from and/or connected with decisions adopted by certain authorities. Details of these proceedings are outlined in the note on “Provisions for risks and charges” in the Notes to the Consolidated Financial Statements. In response to these investigations and disputes, the Group has implemented a series of internal controls, described in the section on “Fair competition”, to reduce the probability of infringements in this area. Therefore, in line with the requirements of Art. 3.c) of Regulation 2020/852, Prysmian carries out its economic activities in compliance with the speciﬁed minimum safeguards.
Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement 59 With regard to the activities classiﬁed as CapEx c (7.3 and 7.6), since no speciﬁc assessment has been carried out on the respective suppliers, both activities are considered not aligned with the minimum safeguards criteria. KPI calculation criteria and background information The Key Performance Indicators (KPIs) speciﬁed in the Taxonomy cover Turnover, capital expenditure (CapEx) and operating expenditure (OpEx)). In compliance with Delegated Regulation (EU) 2026/73, which amends Delegated Regulation (EU) 2021/2178 and replaces the reporting frameworks previously established in Delegated Regulation (EU) 2023/2486, KPIs are now presented in the new formats included in the annexes to Delegated Regulation (EU) 2026/73. The proportion of the Group’s taxonomy-eligible and -aligned economic activities was calculated with respect to Turnover, CapEx and OpEx in accordance with legal requirements and the accounting criteria amended by Delegated Regulation (EU) 2026/73, which amends Annex I of Delegated Regulation (EU) 2021/2178. Turnover Deﬁnition and reconciliation Taxonomy‑eligible/aligned turnover reﬂects the ratio of net revenues derived from eligible/ aligned activities (numerator) to total net revenues (denominator). The denominator of the Turnover KPI references the “Revenues” line item in the Consolidated Income Statement for the year ending December 31, 2025, as consolidated in accordance with IAS 1.82(a). Further information is provided in the consolidated accounts contained in the Group’s Annual Financial Statements and in the section “Accounting policies”. Allocation The numerator of the Turnover KPI consists of the net revenues associated with the Group products linked to eligible/aligned activities. The allocation of net revenues to the numerator was made possible by the Group’s highly detailed management and ﬁnancial accounting system, which made it possible to identify eligible/aligned projects precisely and reconcile them with the activities concerned, thus making the use of estimates unnecessary. Other background information The revenues indicated in the numerator are all linked to contracts with customers. No changes in the composition and reconciliation of revenues compared with 2024 have taken place. CapEx Deﬁnition and reconciliation Taxonomy‑aligned CapEx reﬂects the ratio of CapEx deriving from eligible/aligned activities (numerator) to total CapEx (denominator). The denominator of the CapEx KPI consists of increases in property, plant and equipment and intangible assets during the year before depreciation, amortization, impairments and reversals of impairments, including those deriving from business combinations. Total CapEx can be reconciled with the Group’s Consolidated Financial Statements by reference to “Gross Capital Expenditure”. The eligible/aligned share of CapEx includes: CapEx related to assets or processes associated with taxonomy-eligible/aligned economic activities (category A pursuant to section 1.1.2.2., Annex I to the Article 8 Delegated Regulation); CapEx that is part of a plan (“CapEx plan”) intended to expand taxonomy-aligned economic activities or enable taxonomy- eligible economic activities to become aligned (category b pursuant to section 1.1.2.2., Annex I to the Article 8 Delegated Regulation); CapEx related to the purchase of products deriving from taxonomy-eligible economic activities, as well as to individual measures that enable the Group’s activities to be less carbon intensive or to reduce its GHG emissions (category C pursuant to section 1.1.2.2., Annex I to the Article 8 Delegated Regulation).
PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 60 Allocation CapEx on assets or processes associated with taxonomy-eligible/aligned economic activities was allocated after a precise analysis of each expenditure item, using the classiﬁcation adopted when consolidating the Group’s investments. When calculating eligibility, Prysmian referenced the activities identiﬁed as eligible when allocating turnover to the associated investment categories. On the other hand, when calculating alignment, a detailed analysis of each cost item was carried out to identify those associated with aligned activities. Regarding economic activities 3.1 and 3.20, a timely allocation of expenditure related to the sites responsible for these activities was carried out. In the case of sites where both taxonomy- eligible and/or aligned and/or non-aligned economic activities are carried out, the share of CapEx was calculated with reference to the site’s sales, considering the ratio of taxonomy-eligible/aligned sales to the site’s total sales. This allocation methodology is a reﬁned version of the calculation method that improves the transparency and meaningfulness of the CapEx KPI. Other background information CapEx included in a CapEx plan concerns investment of approximately €600 million over six years (2022-2027) in the construction of cable-laying ships for projects involving the installation of power cables connecting the grid to offshore wind farms. This will expand alignment of activity 4.9 “Electricity transmission and distribution”, thus helping achieve the “Climate Mitigation” objective. CapEx relating to the purchase of products deriving from taxonomy-eligible economic activities, as well as to individual measures that enable the Group’s activities to be less carbon intensive or to reduce GHG emissions, is completed and enters service within 18 months of its recognition in the ﬁnancial statements. It is attributable to the economic activity 7.3 Installation, maintenance and repair of energy efﬁciency devices, and 7.6 Installation, maintenance and repair of renewable energy technologies. To avoid double counting, any CapEx identiﬁed in category C, pursuant to section 1.1.2.2., Annex I to the Article 8 Delegated Regulation, also associated with CapEx included in the denominator relating to assets or processes associated with taxonomy-eligible/ aligned economic activities (category A pursuant to section 1.1.2.2., Annex I of the Article 8 Delegated Regulation), was included in the latter category. CapEx associated with the above economic activities is treated solely as eligible. The Group did not proceed with the alignment assessment, in part because of the amount of expenditure involved and the time required for further veriﬁcation with suppliers. In line with the requirements of the Article 8 Delegated Regulation, the Group provides the amounts included in the numerator of the alignment KPI below. Compared to last year, no investments were made relating to the installation of charging stations for electric vehicles (activity 7.4 – Climate Change Mitigation objective)
Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement 61 QUANTITATIVE BREAKDOWN OF AMOUNTS INCLUDED IN THE NUMERATOR OF THE ALIGNMENT KPI BY ECONOMIC ACTIVITY (EURO M) Activity Increases in property, plant and equipment Increases in internally generated intangible assets Of which part of a CapEx plan 3.1 3.4 – – 3.6 – – – 3.18 – – – 3.20 29.23 – – 4.9 428.5 12.6 98.4 Please note that there were no increases in assets arising from business combinations during the year. OpEx Deﬁnition and reconciliation Taxonomy‑eligible/aligned OpEx reﬂects the proportion of eligible/aligned OpEx included in non-capitalized direct costs incurred on R&D, short-term rentals, maintenance and repairs, and the cost of personnel tasked with internal maintenance of plant and equipment with respect to total OpEx for those categories. Allocation To ensure a linear process and avoid the risk of double counting, operating expenses were deemed eligible/aligned if they related directly to taxonomy-eligible/aligned economic activities. Where the direct allocation of operating expenditure was not possible, the eligible/ aligned portion was calculated with reference to the corresponding percentage of turnover. Other background information As required by the Article 8 Delegated Regulation, amounts included in the numerator of the alignment KPI are detailed below by type of cost. QUANTITATIVE BREAKDOWN OF AMOUNTS INCLUDED IN THE NUMERATOR OF THE ALIGNMENT KPI BY ECONOMIC ACTIVITY (EURO M) OpEX R&D costs 37.2 Short-term leases 15.8 Maintenance and repairs 42.9 Other direct costs connected with routine maintenance of property, plant and equipment 27.8 Total 123.7
PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 62 Note on performance trends and future developments The percentage of eligible Turnover in 2025 was 62.7%, down slightly on 2024 (64.1%). This trend primarily reﬂects inclusion of McKinney’s turnover for the full annual reporting period (in 2024 only the second half was included). In contrast, the percentage of aligned Turnover is up to 22.9%, compared to 21% in 2024. Turnkey installations in Europe and outside the EU exclusively related to renewable energy (activity 4.9 are one of the main reasons for the increase). Regarding Capex, both the eligible share (73%) and the aligned share (56.2%) are down compared with 2024 (when the ﬁgures were 81.3% and 65.3%, respectively). This reﬂects lower investment in activities linked to the Transmission business unit and the installation of HV cables. In addition to this factor, a small part of Encore Wire 2025 CapEx was eligible (represented by E Path cables) but not aligned. NOTE ON PERFORMANCE TRENDS AND FUTURE DEVELOPMENTS 64.1% 21% 62.7% 22.9% 81.3% 65.3% 73% 56.2% 66.3% 22.8% 69.6% 24.8% Turnover 2024 Turnover 2025 CapEx 2024 CapEx 2025 OpEx 2024 OpEx 2025 0 20 40 60 80 100 Eligible Aligned Prysmian has chosen to adopt a transparent and conservative approach, interpreting the requirements of the Regulation as strictly as possible. The Company has continuously monitored European Commission publications and the interpretations and guidance provided by the Platform on Sustainable Finance, and has also participated in working groups and discussions with other industry players, particularly within Europacable. To date, the European Taxonomy remains a recent and continually evolving regulation. Further updates and more guidance on interpretation and applicability of the technical screening criteria can therefore be expected for future reporting periods. This could also signiﬁcantly impact the company’s results in terms of eligibility and alignment.
Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement 63
ESRS E1 – CLIMATE CHANGE
PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 66 E1 – CLIMATE CHANGE 13 As a market leader, Prysmian is included in the EU Paris Benchmark Agreement and the MCSI index (EU-Paris Aligned Benchmark index), with a score of AA in 2025. MSCI ESG Research ranks companies on a scale of “AAA to CCC” based on their exposure to ESG risks and how they manage such risks relative to peers. Governance Thanks to its own business, Prysmian is at the heart of adoption of clean energy, that is an essential enabler of long-term sustainable energy security and energy independence for countries. This is why sustainability governance and topics related to climate-related impacts are ﬁrmly embedded in the Group’s organizational structure. The Board of Directors formally approves the Group’s climate ambition and the related decarbonization targets. The transition plan that forms the basis of this strategy is also due to be approved in 2026. Through the Sustainability Committee, the Board monitors and guides the Group’s climate strategy. The Board is also, with the support of the Remuneration & Nominations Committee, responsible for approving the climate targets included in the Group’s remuneration policies. The Chief Sustainability Ofﬁcer (CSO), an internal executive, is responsible for implementing the climate strategy. The CSO is directly involved in decision-making processes at the senior management level. The CSO works closely with the Chief Strategy Ofﬁcer, and they share responsibility for drawing up the Group’s climate strategy. The Chief Strategy Ofﬁcer coordinates the various departments involved in ESG-related issues, reporting regularly, in collaboration with the Chief Sustainability Ofﬁcer, to the Sustainability Committee, the Control and Risks Committee and members of the Board of Directors. Finally, climate-related risk management is embedded in the Group’s Enterprise Risk Management (ERM) process. This ensures a structured, cross-cutting, and proactive approach to assessing and managing climate- related impacts throughout the value chain. As a result, executive responsibility for overseeing these risks has been assigned to the Chief Risk & Compliance Ofﬁcer and the Chief Sustainability, R&D, and Innovation Ofﬁcer. These ofﬁcers coordinate identiﬁcation, assessment and monitoring of climate-related risk through the Enterprise Risk Management and Sustainability teams, ensuring their integration into the Group’s strategic decision- making and control mechanisms. This governance structure ensures that the Group’s strategic goals are fully aligned with its commitment to decarbonization Strategy Prysmian has adopted an ambitious climate strategy designed to help the company achieve Net Zero emissions throughout the value chain by 2035. This pathway is based on intermediate ﬁve‑year and long‑term targets validated by the Science Based Targets initiative (SBTi), in line with the Paris Agreement 13 goals. The latest strategy update was ofﬁcially announced by Prysmian in March 2025 during Capital Markets Day in New York, following its approval by the Board of Directors. The Group’s transition to a low-carbon model forms an integral part of its strategic plan, “Accelerating Growth”. The Group has drawn up a structured action plan that gets key stakeholders, including production sites, corporate functions, customers and core suppliers actively involved. Prysmian’s SBTi-approved decarbonization targets are as follows. Short-term targets: Prysmian is committed to delivering a 60% cut in Scope 1 and 2 greenhouse gas emissions (compared with the 2019 baseline) by ﬁscal 2030 and cutting absolute Scope 3 emissions by 65% in the same period. Long-term targets: Prysmian is committed to delivering a 90% cut in absolute Scope 1, 2
Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement 67 and 3 emissions by 2035, using 2019 as the baseline, and maintaining this reduction through 2050 and beyond. Overall Net Zero target: Prysmian is committed to getting to Net Zero greenhouse emissions throughout the value chain by 2035. Achievement of these long-term and Net Zero objectives are subject to external factors, such as decarbonization of the power grids in which the Company’s products and solutions are installed. Prysmian is currently developing a Group Climate Transition Plan, expected to be approved and published in 2026. The Plan aim is to provide detailed information on key emission reduction levers – and related investments – already identiﬁed in recent years as part of the decarbonization pathway linked to the Group’s SBTs. Work on developing the Plan is due to be completed during the current year, enabling the Group to prepare and approve a transition plan that organically incorporates Scope 1, 2 and 3 emissions. Decarbonization levers Prysmian has identiﬁed and implemented a series of decarbonization levers to help the company achieve its targets, including: Product and solution design, reducing climate-related impacts throughout the life cycle; Decarbonization of the supply chain, involving engagement programs and sharing sustainable practices with core suppliers 14 ; Procurement and self-production of renewable energy, above all for production plants, but also for the ﬂeet of cable‑laying ships; Energy efﬁciency and electriﬁcation of production and installation processes. 14 Suppliers are segmented on the basis of four criteria: – Level of expenditure: total annual expenditure over a speciﬁc threshold for each product category; – Supplier dominance: high market share with respect to Prysmian, or signiﬁcant growth potential; – Supplier uniqueness: sole supplier / with distinctive capabilities; – Level of innovation / quality: presence of innovative elements and duration of the relationship. Greenhouse gas emissions linked to the use of products sold (Scope 3 – Category 11) are fully accounted for, avoiding the presence of other locked-in emissions that could prevent the Company from achieving its targets. The Group’s locked-in emissions are predominantly concentrated in Scope 3, particularly in the use phase of products and the associated losses, which are calculated on the basis of the emission factors of the electrical grids. Although certain production plants and cable-laying ships remain partially dependent on fossil fuels, the Group has begun to take corrective actions and does not consider these assets an impediment to achieving decarbonization targets. Actions taken in 2025 reduced direct emissions (market-based Scope 1 and 2) by 40.2% and indirect emissions (Scope 3) by 59.7% compared with the 2019 baseline. Integration of climate scenarios into strategic planning In response to global climate-related trends, marked by an increase in renewable energy use and the process of electriﬁcation, Prysmian has conducted a quantitative analysis of climate scenarios. The aim is to assess the impact of various transition trajectories toward a resilient, low-carbon economy, keeping macroeconomic implications in mind. The results of these analyzes are integrated into strategic planning, capital allocation, and business development processes, helping identify risks and opportunities. The assessments conducted also support analysis of the ﬁnancial sustainability of assets, with particular regard to the impairment tests in progress, which take into account climate-related impacts on expected cash ﬂows.
PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 68 Further details on climate-related risks are provided in the “Risks” section in the Report on Operations. Identiﬁcation of IROs related to climate To explore and assess the business’s resilience to climate related challenges, Prysmian conducted an analysis involving various climate-related scenarios, including those linked to the Company’s Net Zero goal and those of a +3°C rise in temperature compared with pre- industrial levels. The aim was to model how the impact and likelihood of the identiﬁed material risks and opportunities might change over time. The following models were used: IPCC RCP IPCC RCP (Representative Concentration Pathway) SCENARIOS combined with SSP (Shared socioeconomic pathway) SCENARIOS IEA (Internation Energy Agency) SCENARIOS To assess physical risks For transition risks and opportunities The risk and opportunity analysis was performed over three time horizons and was based on external data sets on climate drivers and internal data sets on the Group’s activities. This information was used to create advanced measurement models, based on time series and cross-sectional iterations using Monte Carlo simulations. 1. Short-term time horizon: this refers to a time frame of one year. This horizon is mainly focused on daily operations and annual goals. In this period, planning focuses on operational efﬁciency, cash ﬂow management and optimizing existing business resources. The lifespan of major short-term assets is closely linked to this planning, which also includes capital allocation plans for short-term investments 2. Medium-term time horizon: this covers two to ﬁve years and reﬂects Prysmian’s strategic goals, including expanding its market share and adopting new technologies or initiatives. In this period, the Company’s assets (such as production infrastructure, machinery, and technologies) are planned to be optimally utilized during their life cycle, contributing to sustainable business growth. Capital allocation decisions include investments in innovation, plant modernization, and geographical expansion. 3. Long-term time horizon: this covers periods of more than ﬁve years through to 2050. In this period, Prysmian focuses on long-term strategic developments, such as entry into new markets, developing technologies, and sustainability at a global level. The long-term horizon is closely linked to the lifespan of the company’s major industrial and infrastructure Financial Materiality Not material 2 = Financial materiality threshold Material Not material 2.5 = Impact materiality threshold Material Impact Materiality E1 - Climate change Climate change adaptation E1 - Climate change Climate change mitigation Energy
Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement 69 assets, which can have very long-life cycles. Capital allocation decisions in this period include investments in research and development, new acquisitions, and long- term strategic projects. The climate scenarios and time horizons used are, therefore, compatible with the horizons and outlooks on which the ﬁnancial budget is based. The scenarios related to medium-term time horizons are consistent with the plan used by management to test the sustainability of the carrying amounts of the company’s main assets in the ﬁnancial statements. These tests did not provide evidence of any impairment of these assets. Further details are provided in the notes on “Property, plant and equipment” and “Goodwill and other intangible assets” in the Consolidated Financial Statements. The scope of the analysis covers the Group’s operations in 2025, including corporate changes that took place during the year. The analysis focused on physical and transition risks, with the exception of regulatory risks, to which scenario- related projections are difﬁcult to apply. The above scenarios and the related analyzes led to the following results: Physical risks identiﬁed include a chronic risk linked to sea level rise, which has the potential to impact the Group’s business; a chronic risk linked to water stress, which could affect the business continuity of the plants exposed to this risk; and, ﬁnally, an acute physical risk regarding the increased severity and frequency of extreme weather events that may impact the Group’s business (including risks linked to ﬂooding, heavy rainfall and tornadoes). With regard to transition risks, the main risks relate to the scarcity of critical minerals along the supply chain and to the impact of having an inadequate climate strategy — a condition that affects the company both from a reputational standpoint and in its ability to win tenders issued by clients who are particularly attentive to climate matters. In terms of climate-related opportunities, the Group identiﬁed opportunities in taking advantage of global cable market trends, accessing lower‑cost ﬁnancing, and the development and deployment of low-carbon solutions. In addition, Prysmian has not identiﬁed any business assets or activities that are incompatible with this transition, or that would require signiﬁcant efforts to make them compatible with said transition. The following table shows the impacts, risks and opportunities connected with the topic dealt with in this section, indicating actual risks and opportunities and the related current ﬁnancial effects. Detailed analysis: physical risks Three key physical risks were identiﬁed and assessed: Increased severity of extreme weather events Rising sea levels Water stress To assess its exposure to climate-related physical risks, Prysmian used the following two scenarios put forward by the IPCC: 1. IPCC RCP 8.5: high-emissions, “business as usual” scenario, in which society makes no concerted efforts to reduce greenhouse gas emissions, the use of fossil fuels continues to grow and global warming becomes more intense exceeding 3°C, with a resulting major intensiﬁcation of natural events; 2. IPCC RCP 2.6: a scenario in which global emissions gradually decline, clean technologies and sustainable climate policies are adopted and global warming stays within 2°C by 2100. Physical risk exposure remains close to current levels. The analysis conducted using speciﬁc tools (CatNet ® , a geo‑speciﬁc risk exposure proﬁling tool developed by SwissRe and Aqueduct, a web-based platform developed by the World Resources Institute), led the Group to assess its exposure to these risks as limited. A speciﬁc climate-related risk assessment is conducted for new operations.
PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 70 The following table details the three physical risks identiﬁed: TCFD classiﬁcation Sub-topic Physical risk Description Comment Positioning in the value chain Time horizon Current ﬁnancial effect Acute Climate change adaptation Increased severity of extreme natural events (e.g., river ﬂooding, hurricanes, cyclones, etc.), made worse by climate change in progress, causing damage to the Group's production sites/critical assets and halting production and/or distribution Failure to adapt to climate- related events could have an impact on the Group's business continuity in terms of property damage (e.g., damage to plants) and business interruption (e.g., halts to production). At the same time, these extreme events could lead to disruption of Prysmian's upstream value chain, causing difﬁculties for the supply of key materials Risk assessed in the short (2025/2026), medium (2030) and long term (2050), with moderate exposure for a limited number of production plants Upstream, Own operations, Downstream Long term N/A Chronic Climate change adaptation Risk linked to availability of the water needed for the Group's production activities, e.g., due to changes in rainfall models Risk linked to availability of the water needed for the Group's production activities, e.g., due to changes in rainfall models, which could lead to an increase in operating costs to fund improvements to the resilience of plants and the need to adopt/ implement new practices and processes Risk assessed in the short (2025/2026), medium (2030) and long term (2050), with moderate exposure for a limited number of production plants Own operations Long term See the section "Risk factors" in the Report on Operations, describing the risk and the impacts on the Group's operations Chronic Climate change adaptation Risk linked to rising sea levels that could have an impact on the Group's activities Rising sea levels, resulting in ﬂooding and damage to infrastructure over the life cycle of assets, leading to an increase in operating costs to fund improvements to the resilience of plants, and to costs linked to retained losses Risk assessed in the short (2025/2026), medium (2030) and long term (2050), with moderate exposure for a limited number of production plants Own operations Long term See the section "Risk factors" in the Report on Operations, describing the risk and the impacts on the Group's operations
Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement 71 Detailed analysis: transition risks Two key transition risks that are considered potentially signiﬁcant for the business were identiﬁed and assessed: Shortages of critical minerals in the supply chain Inadequate climate strategy In addition, the Group’s Double Materiality assessment identiﬁed and examined further transition risks. Although these were deemed to be less strategic, scenario analyzes were still conducted. These risks are linked to the entry of new players into the HV market and/or new emerging technologies, and to the taxation of greenhouse gas emissions. Prysmian conducted an advanced analysis of two possible scenarios recommended by the International Energy Agency (IEA). These are based on the energy outlook for the medium to long term and examine energy market trends in the coming years. In the agency’s World Energy Outlook 2025, unlike the previous year’s version, the APS scenario was removed because there was too much uncertainty over developments in international climate commitments. .01 STEPS .02 NZE The Stated Policies Scenario: a conservative benchmark based on climate policies adopted or put forward by governments, as well as policy intentions not yet codiﬁed into law but supported by markets, infrastructure and ﬁnancial conditions, consistent with a temperature rise of approximately 2.5°C by 2100, with the 2°C threshold expected to be exceeded around 2060. Net Zero Emissions: pathway for the global energy sector to achieve Net Zero CO 2 emissions by 2050, consistent with limiting the rising temperatures to 1.65°C by around 2050 and, thanks to rapid transformation and large-scale use of carbon removal technologies, with a subsequent fall to 1.5°C by 2100.
PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 72 The following table details the risks identiﬁed: TCFD classiﬁcation Sub-topic Transition risk Description Comment Positioning in the value chain Time horizon Current ﬁnancial effect Competition Climate change mitigation Risk of failure to adopt a climate strategy The risk relates to potential reductions in EBITDA due to both the failure to achieve emission reduction targets by 2035, and the impossibility of new contract awards due to progressively stricter ESG requirements Risk assessed in the short (2025/2026), medium (2030) and long term (2050). Without appropriate management, the exposure was assessed as potentially high in the medium to long term Upstream, Own operations, Downstream Medium/ Long term N/A Market Climate change mitigation Shortages of critical minerals in the supply chain The risk of increased costs, delays or disruption to production linked to the limited availability of copper, aluminum and other materials key for Prysmian’s business Risk assessed in the short (2025/2026), medium (2030) and long term (2050). Without appropriate management, the exposure was assessed as potentially high only in the long term Upstream, Own operations, Downstream Long term N/A Market Climate change mitigation Entry of new players into the HV market The risk relates to the impact of the potential entry of new players into the market and the resulting increase in market competition Risk assessed in the short (2025/2026), medium (2030) and long term (2050). Without appropriate management, the exposure was assessed as potentially high in the long term Upstream, Own operations, Downstream Long term N/A Technology Climate change mitigation Emerging technologies (hydrogen, batteries, nuclear) The risk relates to the impact of emerging technological innovations in the energy market, leading to a potential reduction in Prysmian's business. It covers the risks linked to hydrogen, batteries, nuclear and 5G (wireless technologies) Risk assessed in the short (2025/2026), medium (2030) and long term (2050). Without appropriate management, the exposure was assessed as potentially high in the long term Upstream, Own operations, Downstream Long term N/A Policy & Legal Climate change mitigation Carbon taxes The risk quantiﬁes the impacts linked to changes in legislation regarding carbon taxes Risk assessed in the short (2025/2026), medium (2030) and long term (2050). Without appropriate management, the exposure was assessed as potentially high in the long term Upstream, Own operations, Downstream Long term N/A
Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement 73 The identiﬁed transition risks are deemed to be signiﬁcant for the Group as a whole and only at an inherent level, meaning without appropriate management. As the Company has already addressed such risks in its strategy, transition risks are deemed not to have a material impact on the Company’s assets. Detailed analysis: internal control and risk management system To identify and assess risks and opportunities, Prysmian uses an internal control and risk management system based on tools and information ﬂows that enable the Board of Directors to make informed strategic decisions and draw up system guidelines. This approach takes into account the Group’s operating environment and the related risks and opportunities. These include those linked to sustainability and climate-related challenges, in line with the Group Risk Appetite, which deﬁnes the type and entity of the risks that the Group is willing to assume in pursuit of its strategic objectives. Appointment of a Chief R&D, Innovation and Sustainability Ofﬁcer (CIO), a Chief Digital Ofﬁcer, and the establishment of a Group Innovation Steering Committee, chaired by the CIO, further consolidate the Group’s commitment to sustainability-related innovation and research and development. Based on the results of the climate scenario analysis, Prysmian devotes ongoing efforts to developing speciﬁc action plans to address each signiﬁcant risk. The goal is to understand the extent to which the impact of such risks may be reduced, and business resilience increased. Mitigation measures linked to transition risks include: Deﬁnition of a roadmap for innovation, achieving cost efﬁciencies and Transmission and Digital Solutions projects, innovation- related competitions among employees, potentially open to key customers, and an upskilling plan to strengthen employees’ innovation capabilities. Continuous monitoring of changes in legislation and regulations related to greenhouse gas emissions at global level, above all in countries in which the Group’s factories are located and in the most important markets. This monitoring is conducted by the relevant teams at central level (e.g., Manufacturing for production sites and Transmission for the ﬂeet of ships) with the support of HSE and Sustainability & Innovation. In order to mitigate physical risks, the Group has established and continues to implement a program of activities relating to the decarbonization plan, as well as local ﬂood protection measures such as dams and other physical barriers aimed at safeguarding business continuity. An agreement has also been reached with an international company specializing in disaster recovery & restore services that arranges insurance coverage for both direct losses and lost proﬁts due to disruption to production. Further details of the actions taken by the Group are provided in the speciﬁc part of this section. In addition, assessment of third-party sustainability risks is a key step in the overall supply chain management process, setting clear rules for the introduction of new suppliers, for periodic assessment of the process and monitoring and improvement of the supply chain management strategy. Detailed analysis: climate-related opportunities The related opportunities were assessed through a structured, integrated process that actively involved the heads of the main corporate functions. The process identiﬁed the most signiﬁcant opportunities resulting from climate related activities and the progressive shift towards low-carbon economies. The assessment also took into account certain variables: development of energy and digital infrastructure; changes in legislation; public and private investment in energy transition technologies; and growing demand for more efﬁcient, sustainable solutions.
PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 74 The material opportunities that emerged from the assessment show how the energy and digital transitions are generating signiﬁcant growth in demand for enabling technologies. These include HV and EHV transmission systems, innovative electriﬁcation solutions, resilient telecommunications infrastructure, and products with a reduced environmental footprint throughout their life cycles. Further opportunities are connected with improved competitiveness in public and private tenders including environmental criteria, growing market demand for highly energy-efﬁcient products, the expansion of digital networks and the spread of production models powered by renewable energy. Overall, these opportunities – linked to the main market, technology and regulatory trends – have been classiﬁed using the Task Force on Climate-related Financial Disclosures (TCFD) framework. The classiﬁcation was based on the nature of the opportunity (e.g., related to the market or energy sources), its potential impact, and alignment with TCFD categories. Each opportunity was then analyzed in relation to the Group’s value chain, the related time horizon and the expected potential ﬁnancial effect, as shown below: TCFD classiﬁcation Sub-topic Opportunity Description Comment Positioning in the value chain Time horizon Current ﬁnancial effect Markets Climate change mitigation Take advantage of expected growth in the global cables market, driven by the energy transition, electriﬁcation and digitalization Expand the presence in global ca- bles markets, beneﬁtting from demand growth linked to the energy transition, elec- triﬁcation and digitalization Marked, incremental anticipated ﬁnancial effects that over the long term will be signiﬁcant under the APS and NZE scenarios Own operations Medium term See the section "Group performance and results" in the Report on Operations, describing revenue growth achieved by the Group's segments that have beneﬁtted from current positive megatrends Markets Climate change mitigation Successful participation in green tenders, backed not only by solid know-how and ﬁnancial strength, but also by acknowledged strong sustainability performance Successfully compete in tenders that reward sustainable solutions, thanks to know- how, ﬁnancial strength and acknowledged environmental performance Opportunity to strengthen the Group's reputation and access new projects of global signiﬁcance, with a moderate impact on the organization over the long term, regardless of climate scenario (STEP, APS, NZE) Own operations Medium term See the section "Performance of Transmission operating segment" in the Report on Operations, describing Prysmian's ability to be successful in green tenders thanks to an improved sustainability performance Continues >>
Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement 75 TCFD classiﬁcation Sub-topic Opportunity Description Comment Positioning in the value chain Time horizon Current ﬁnancial effect Energy source Energy Use of green energy sources in the Group's plants by installing renewable energy systems (e.g., photovoltaics), the purchase of renewable energy and the use of biofuels Reduce factories' carbon footprint by installing renewable plants, the purchase of green energy and the use of biofuels A moderate impact on the organization over the long term, regardless of climate scenario (STEP, APS, NZE) Own operations Medium term See ”Property, plant and equipment” in the Notes to the Financial Statements, regarding sustainability- related investments designed to cut Scope 1 and 2 GHG emissions by 60% by 2030 (compared with the 2019 baseline) and achieve Net Zero by 2035. These investments were also taken into account in impairment tests. See the Notes on "Goodwill" and "Other intangible assets" Energy source Energy Promote transmission technologies through innovative solutions that boost efﬁciency and productivity, helping to bridge the green premium gap Offer solutions that boost efﬁciency and productivity, bridging the green premium gap and supporting customers in the sustainable transition Opportunity with moderate anticipated ﬁnancial effects over the medium term, with signiﬁcant increases under the NZE scenario Downstream Medium term See the section "Performance of Transmission operating segment" in the Report on Operations, describing how the entry into service of new installation capacity (new ships) has enabled an improvement in the productivity and efﬁciency of installation operations Energy source Energy Deploy hollow core ﬁber networks to make data transmission faster and more energy efﬁcient, reducing latency and energy consumption, whilst also enabling resilient, low-impact infrastructure Build ﬁber infrastructure that makes data transmission faster and more energy efﬁcient, reducing latency and energy consumption Strategic opportunity to support the development of smart cities and sustainable digital infrastructure, with moderate ﬁnancial effects over all time horizons and under all climate scenarios Downstream Long term See the section "Performance of Digital Solutions operating segment" in the Report on Operations, describing the progressive switch from copper to ﬁber, enabling a reduction in latency and electricity consumption Continues >> >> Continued
PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 76 TCFD classiﬁcation Sub-topic Opportunity Description Comment Positioning in the value chain Time horizon Current ﬁnancial effect Energy source Energy Increase the sustainability of data centers by using advanced cable solutions that reduce energy consumption, integrate renewable sources and minimize environmental impact Provide advanced cable solutions that reduce energy consumption, integrate renewable energy and limit the environmental impact of data centers Opportunity for leadership in the data center sector, with moderate ﬁnancial effects over all time horizons and increases under the APS and NZE scenarios Downstream Medium term See the section "Performance of Electriﬁcation operating segment" in the Report on Operations, describing the reduction in energy consumed by data centers thanks to the new cables Detailed analysis: impacts Prysmian’s activities have material negative and positive impacts on the climate throughout the value chain. Due to the energy consumed during cable production and onshore and offshore installation activities, the impacts of own operations (Scope 1 and 2 emissions) remain marginally negative in the short term. Scope 3 emissions are much more signiﬁcant than the other Scopes. This is linked to the purchase of raw materials (above all copper and aluminum) and network losses due to use of the product (the Joule effect). These two categories are the main sources, but Scope 3 emissions also include other contributions in the value chain. Alongside these critical aspects, and even though the Group is not directly involved in decarbonization of the energy system, Prysmian is playing a positive, tangible role in the short term as an enabler of the energy transition. The Group’s solutions are helping to create and upgrade the electricity infrastructure needed to develop renewable energies. The Group takes a targeted approach to mitigating negative impacts and maximizing positive impacts, in line with global climate action targets. Sub-topic Impact Positioning in the value chain Positive/ negative Actual/ potential Time horizon Energy Energy consumption for cable production Own operations (production activities) Actual Short term Climate change mitigation Increase in the Group's Scope 1 and 2 emissions (from cable production and offshore and onshore installation) Own operations (production and installation activities) Actual Short term Climate change mitigation Enabling the energy transition and decarbonization Downstream Actual Long term Climate change mitigation Presence of locked-in emissions linked to use of products Downstream Actual Long term Climate change mitigation Increase in emissions due to the Group's Scope 3 emissions Own operations (production activities), Downstream Actual Short term Positive impact Negative impact >> Continued
Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement 77 Material IRO management procedures 15 The policies, actions, and targets described in the table have been linked to the IROs identiﬁed in the double materiality assessment, and there is no systematic direct connection between the actions, policies, and targets. 16 A detailed description of actions related to the Transmission, Power Grid and Electriﬁcation segments is provided in “Actions” in this section. 17 The decarbonization of production sites, which has already begun, will continue in line with the transition plan, expected to be approved in 2026. 18 Decarbonization of the ﬂeet of vessels, which has already begun, will continue in line with the decarbonization plan, expected to be approved in 2026. IRO 15 Policy Action Target I – Energy consumption for cable production HSEE Policy Transmission innovation Power Grid innovation Electriﬁcation innovation 16 Decarbonization of production sites 17 Reduction in absolute Scope 1 and 2 GHG emissions I - Increase in the Group’s Scope 1 and 2 emissions (from cable production and offshore and onshore installation) HSEE Policy Sustainability Policy Transmission innovation Power Grid innovation Electriﬁcation innovation Decarbonization of production sites Decarbonization of the Group’s ﬂeet of vessels Reduction in absolute Scope 1 and 2 GHG emissions I - Enabling the energy transition and decarbonization HSEE Policy Sustainability Policy Transmission innovation Power Grid innovation Electriﬁcation innovation Decarbonization of production sites Decarbonization of the Group’s ﬂeet of vessels 18 Transport optimization Reduction in absolute Scope 1, 2 and 3 GHG emissions I - Presence of locked-in emissions linked to use of products HSEE Policy Sustainability Policy Transmission innovation Power Grid innovation Electriﬁcation innovation Decarbonization of production sites Decarbonization of the Group’s ﬂeet of vessels Reduction in absolute Scope 1, 2 and 3 GHG emissions I - Increase in emissions due to the Group’s Scope 3 emissions Transmission innovation Power Grid innovation Electriﬁcation innovation Transport optimization Supplier engagement program Reduction in absolute Scope 3 GHG emissions and achievement of Net Zero throughout the value chain O - Take advantage of expected growth in the global cables market, driven by the energy transition, electriﬁcation and digitalization Sustainability Policy Transmission innovation Power Grid innovation Electriﬁcation innovation Growth in sustainability- linked revenues (details are provided in section ESRS E5) O - Successful participation in green tenders, backed by solid know-how, ﬁnancial strength, and acknowledged strong sustainability performance Transmission innovation Power Grid innovation Electriﬁcation innovation O - Use of green energy sources in the Group’s plants by installing renewable energy systems (e.g., photovoltaics), the purchase of renewable energy and the use of biofuels HSEE Policy Decarbonization of production sites Reduction in absolute Scope 1 and 2 GHG emissions O - Promote transmission technologies through innovative solutions that boost efﬁciency and productivity, helping to bridge the green premium gap Sustainability Policy Transmission innovation Power Grid innovation Electriﬁcation innovation Growth in sustainability-linked revenues (details are provided in section ESRS E5) Reduction in absolute Scope 3 GHG emissions O - Deploy hollow core ﬁber networks to make data transmission faster and more energy efﬁcient, reducing latency and energy consumption, while enabling resilient, low-impact infrastructure Transmission innovation Power Grid innovation Electriﬁcation innovation Reduction in absolute Scope 3 GHG emissions Continues >>
PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 78 IRO 15 Policy Action Target O - Increase the sustainability of data centers by using advanced cable solutions that reduce energy consumption, integrate renewable sources and minimize environmental impact Power Grid innovation Electriﬁcation innovation Reduction in absolute Scope 3 GHG emissions and achievement of Net Zero throughout the value chain R – Increased severity of extreme natural events (e.g., river ﬂooding, hurricanes, cyclones, etc.), exacerbated by climate change in progress, causing damage to the Group’s production sites/critical assets and halting production and/or distribution Sustainability Policy ERM Policy Monitor risks deriving from extreme climate events via the ERM R - Entry of new players into the HV market Transmission innovation Power Grid innovation Electriﬁcation innovation R - Emerging technologies (hydrogen, batteries, nuclear) Transmission innovation Power Grid innovation Electriﬁcation innovation R - Risk of failure to adopt a climate strategy Sustainability policy Transmission innovation Power Grid innovation Electriﬁcation innovation Decarbonization of production sites Decarbonization of the Group’s ﬂeet of vessels R - Carbon taxes Continuously monitor legislation regarding GHG emissions R - Shortages of critical minerals in the supply chain Sustainability policy Supplier engagement program R - Risk linked to availability of the water needed for the Group’s production activities, e.g., due to changes in rainfall models Sustainability Policy ERM Policy Monitor risks deriving from extreme climate events via the ERM R - Risk linked to rising sea levels that could have an impact on the Group’s activities Sustainability Policy ERM Policy Monitor risks deriving from extreme climate events via the ERM >> Continued
Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement 79 Policies Prysmian views its role to make a positive impact on the planet as both a strategic opportunity for action and responsibility. This is why the Group’s commitment to supporting the clean energy transition is formally set out in the Sustainability Policy, approved by the Board of Directors. The Group Sustainability team is responsible for revising the Policy every three years to ensure it is aligned with the latest legislation, best practices and developments in the business. The Policy applies to all employees, executives, and the entire value chain that works with the Group on a regular basis. The Policy reﬂects the Group’s commitment to: preventing and reducing direct and indirect environment impacts linked to processes, products and installation; contributing to meeting climate goals through energy efﬁciency, reductions in emissions, responsible management of waste and water and the protection of biodiversity; developing innovative, reliable and green solutions, recognizing the key role played by electricity and telecommunications infrastructure in the global energy transition. The Sustainability Policy applies to all Group companies, employees, executives, agency workers, contractors, and other entities in the value chain. Each entity is responsible for integrating the Policy’s principles into their own activities, decision making and processes, throughout product life cycles. Prysmian ensures that all personnel have received training in issues related to the climate, the environment and sustainability, and are fully qualiﬁed to carry out the tasks for which they are responsible. In producing this document, the company has adopted a formal approach to consultation with internal and external stakeholders, ensuring transparency and alignment with shared expectations and priorities. 19 https://www.prysmian.com/en/sustainability/environmental-responsibility The climate commitment set out in the Sustainability Policy is applied in the Health, Safety, Environment & Energy (HSEE) Policy, which establishes principles and operational guidelines related to health, safety, the environment, and energy. Prysmian uses the HSEE Policy – signed by the Group CEO, the COO and HSE VP – to promote a proactive approach to managing environmental impacts, setting goals and deﬁning actions designed to mitigate climate-related risks, and taking advantage of opportunities linked to sustainable development. The Policy applies to all the Group’s activities, employees, contractors, agency workers, and everyone under the Company’s supervision. It covers all geographies and legal entities. Each entity is responsible for implementing the principles throughout all operational stages along the value chain. By providing appropriate training and distributing the Group’s policies, Prysmian also ensures that the people and organizations under its control are competent, adequately trained and, where necessary, authorized to carry out speciﬁc tasks without having negative impacts on the environment. The HSEE Policy commits Group companies to: optimizing the consumption of energy and raw materials and preventing pollution by reducing the environmental impacts of their processes and products; adopting health, safety, environmental and energy management systems that comply with international standards, with a commitment to continuous improvement of processes and a life cycle vision of the Group’s products and solutions; promoting the systematic management of energy, through deﬁned responsibilities, innovative solutions and the purchase of energy efﬁcient products and services. In drawing up the HSEE Policy, Prysmian involved various stakeholders – employees, union representatives, customers, suppliers and other key parties – to ensure that the Policy meets their needs. The Policy is published on the company’s website 19 and internally on the Intranet and via HSEE management systems.
PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 80 Actions TRANSMISSION INNOVATION In 2025, Prysmian achieved important milestones in its Innovation sector, developing more efﬁcient and sustainable connection solutions that are suitable for increasingly complex applications. The Group proceeded with the homologation process for deep-sea cables using mass- impregnated technology operating at 500 kV. New prototypes of HVDC (High Voltage Direct Current) cables with extruded insulation were built with larger sections of cable using newly built lines. This had the dual objective of qualifying new plants and developing new products offering increased transmission capacity. Prysmian also continued to develop and optimize the proprietary polypropylene- based P-Laser 525kV HVDC solution. Approximately 1,145 km of saleable cables for underground use were manufactured in 2025. The ﬁrst prototypes of submarine systems using P-Laser technology were produced and the Company began identifying a suitable solution for factory joints. The Group focused on its technology platform for dynamic applications covering both renewable export cable systems and the development of state-of-the-art hybrid umbilicals. In 2025, Prysmian qualiﬁed a 245kV dynamic three-core cable that currently offers the highest power transmission capacity in the world. In 2025, the Company further expanded its capacity to test high-voltage and submarine cable systems with a state-of-the-art electrical laboratory, under construction in Quattordio (Italy). Prysmian also conducted a major research effort focused on the use of low-carbon materials, such as PE and recycled copper, in submarine cable systems. Regarding innovation in transmission system components, Prysmian continues to strengthen the technology, with CapEx of around €3.5 million in 2025. This was invested in the scale-up of 525kV couplings by leveraging the Group’s proprietary EPR rubber compound solution, developed and industrialized speciﬁcally for such demanding applications. With a view to reducing the compound’s environmental impact, in 2025 the Group developed and tested a version that is completely free of lead oxide. Ofﬁcial qualiﬁcation will take place in 2026 for 420kV AC and 525kV DC cables. 1,220 pieces were produced at the Livorno Mare factory in Italy in 2025. Reducing consumption of SF6 played an important role in 2025, with completion of ofﬁcial qualiﬁcation of armored terminations insulated using alternative gases: dry air for 145kV AC cables and eco-friendly compounds for 420kV AC cables. Alongside the removal of SF6, development and ofﬁcial qualiﬁcation of dry-type terminations for 420kV AC and 525kV DC cables are nearing completion. This cutting- edge technology offers a completely safe, ﬂuid‑ free (gas/oil) and, therefore, leak-proof solution that is also easy to install, offering further proof of the Company’s commitment to making a serious and concrete contribution to reducing environmental impacts, with innovation as the main driver. These applications enable the Group to consolidate its role as an enabler in the transition to a sustainable future, fostering rapid development of renewable energy and electriﬁcation, and thus contributing to efforts to make a positive impact on the climate. Details of the Group’s total investments are not provided for the purpose of this disclosure as the related data are considered conﬁdential. SCOPE OF ACTION TIME HORIZON Short to medium term Own and downstream operations in the value chain
Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement 81 POWER GRID INNOVATION Finding new, innovative ways to upgrade a power grid is necessary to expand capacity, improve reliability and signiﬁcantly reduce carbon emissions. Prysmian is responding to customer needs by promoting a series of initiatives at global level. This year, the Group launched recycled polyethylene (PE) cable jackets worldwide and introduced green aluminum-based overhead conductors, cutting the product’s carbon footprint by up to 70%. Prysmian is also planning laboratory tests and trials of 10% to 100% recycled aluminum to increase circularity and reduce carbon emissions. To support increased consumption of recycled polyethylene, a multi-year project involving CapEx of approximately €3 million was approved during the year. This covers the installation of metering systems, changes to extrusion lines, and the necessary laboratory equipment. Additionally, the use of E3X technology is promoted across various countries to further improve reliability and meet rapidly growing demand for energy. E3X coating solutions were developed to improve thermal dissipation and reduce the absorption of solar radiation in overhead line conductors. The coating enables the lines to transport more energy at the same temperature and reduces losses compared with a conductor of the same size. Retroﬁtting existing lines is made possible by a cleaning and application robot that can apply fresh coating to live lines. The company has also developed a coating for high temperatures (250°C). The ability of this coating to resist oscillations and other mechanical stresses was demonstrated via ﬁeld experiments. Pilot projects were completed in Saudi Arabia and Brazil in 2025. Further trials are due to take place in Australia and Europe in 2026. During the year, Prysmian received funding from the US Department of Energy to develop an innovative solution for splicing machines to improve the reliability and resilience of underground cables. This solution is expected to be ready for validation by the end of 2026. This splicing machine solution makes the power grid more reliable and secure, cutting underground cable network splice failures from ~90% to <10%. The machine automatically completes the splicing process using a robotic arm with customized end effectors that capture the process with advanced images to apply machine learning in the future. A laser cuts cable layers with greater precision than a traditional blade. In 2024, Prysmian completed the whole subsystem design and developed the cable laying preparation method. The cable prepared using this method was validated with partial discharge tests. In addition, a machine model was built to evaluate practicality under ﬁeld conditions. All subsystems were tested in 2025 to validate splicing feasibility. Production of the ﬁnal prototype is due to take place in 2026. SCOPE OF ACTION TIME HORIZON Short to medium term Own and downstream operations in the value chain
PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 82 Details of the Group’s OpEx for major Power Grid innovation projects are provided below: 2024 2025 2026 r-PE €127,000 €110,000 N/A Green-Al N/A N/A €20,000 E3X €234,000 €128,000 €128,000 Splicing Machine 20 €267,000 €317,000 €211,000 20 The Splicing Machine is an innovation in cable-jointing technology designed to enhance the reliability and safety of underground cable networks, with the mission of reducing joint failures from approximately 90% to below 10%. The machine will be able to automatically complete the jointing process using an automated arm equipped with customized end-effectors, supported by advanced imaging to enable future machine-learning applications. A laser will be used to cut cable layers, ensuring greater precision compared to a traditional blade. 21 Details of the E Path project are provided in section ESRS E5 in this report. ELECTRIFICATION INNOVATION In 2025, the Electriﬁcation business unit consolidated its leadership role in the energy transition, developing innovative solutions in response to global megatrends in sustainability, digitalization, and electric mobility. The main projects included the continued development of E Path 21 and further work on a new generation of solar farms, involving the introduction of innovative technologies such as PrySolar (a range of high-resistance cables designed for reliability and high-performance interconnections with power plants). The application associated with this new product family provides a series of useful functions during both installation and maintenance. In 2025, a total of €70,000 was invested in this project. In line with the business strategy, the sum of €70,000 was invested in the Data Centers segment and in EV charging infrastructure. This conﬁrms Prysmian’s commitment to creating value for customers and helping to decarbonize the economy. DECARBONIZATION OF PRODUCTION SITES 1. Self-production of electricity using photovoltaic panels In addition to the three initiatives launched in 2024 (Slatina in Romania, Pignataro in Italy and Abrera in Spain), in 2025 Prysmian launched an additional eight photovoltaic installations at production sites. Installation and completion of new plants in Europe — Quattordio in Italy, Gron in France, Balassagyarmat in Hungary and Schwerin in Germany (with installed capacity of over 3 MWp in the last two cases) — and in new geographical areas is underway. Further solar self-production projects will be launched in 2026 in Asia, at the factories in Yixing (China) and Melaka (Malaysia), and in the Americas, at Tetla in Mexico and DuQuoin in the United States. These initiatives will make it possible to achieve 31 MWp of installed capacity and 38,000 MWh of delivered capacity per year, cutting Scope 2 carbon emissions by around 18 ktons. SCOPE OF ACTION TIME HORIZON Short to medium term Own and downstream operations in the value chain SCOPE OF ACTION TIME HORIZON Short to medium term Own operations
Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement 83 2. Energy efﬁciency initiatives Energy efﬁciency initiatives are managed by regional leadership teams, under the supervision of the Group Manufacturing team, which facilitates the sharing of best practices and decides which initiatives can be progressed and, as a result, awarded a speciﬁc, centrally allocated budget. This new set-up has allowed for more widespread intervention, including: Speciﬁc maintenance, control and empowerment of utilities, with speciﬁc attention to heating boilers and systems: The primary focus has been on maintaining and improving the efﬁciency of heating boilers and systems. The most signiﬁcant projects included replacement of the boiler at the Lincoln plant (USA) with a more efﬁcient model, installation of exchangers and heat recovery systems at the Quattordio plant (Italy), and the start of work on replacing the boiler at the Nuremberg plant (Germany). At the same time, numerous projects designed to monitor and ensure the upkeep of ancillary equipment were launched. This equipment is often overlooked as it is not directly linked to production. The equipment does, however, have an impact on energy consumption and requires maintenance and improvement to contribute to cutting carbon emissions. The most widespread initiatives include the maintenance of compressed air systems, with leaks found at various plants, and installation of Variable Speed Drives at plants in Liverpool (Australia) and Claremont (USA). This was done to improve the performance and consumption of pumps and chillers in relation to actual production needs. Energy monitoring and Omhero installation: Measuring consumption is the ﬁrst step toward reducing it. In this regard, the installation of Omhero devices continued, with 1,400 devices distributed to 35 factories worldwide. The system allows consumption to be monitored in real time and settings to be adjusted immediately. The data collected can also be analyzed and used to identify energy‑efﬁciency solutions. Thanks to these analyzes, the company was able to introduce shutdown procedures, including a checklist for the complete shutdown of machinery not in use. This practice was implemented after it was noted that machinery that was apparently not in operation or on standby continued to consume energy, even if at a reduced rate. Lighting regulation: Energy consumption for lighting was examined in certain factories, with the aim of reducing waste. Motion sensors were installed in plants in northern Europe and the UK. These sensors switch lights on only when people are present, dimming the lights when no human presence is detected. In certain areas, the sensors have been integrated with production equipment, ensuring that lighting is only on in areas where machinery is in operation. Solutions to prevent heat loss or for its redistribution: Many factories have taken steps to reduce heat consumption through more efﬁcient use of heat already present inside buildings. Initiatives have regarded both efforts to reduce heat loss and to boost its redistribution. In Finland, thermal scanners are being used to identify building areas where losses are greatest, leading to targeted interventions. Double gates or transparent strip curtains have been installed in other factories to limit the entry of cold air into areas used by forklifts. Regarding heat redistribution, the Amfreville plant (France) has introduced destratiﬁcation systems, while the Nieuw Bergen plant (Netherlands) has installed ventilators to convey excess hit from hotter to colder areas, such as warehouses. This solution is a response to the different temperatures naturally present in various areas, where certain areas are warmer due to the presence of machinery. Temperature regulation on the shop ﬂoor: In various factories in southern Europe and central-eastern Europe, steps have been taken to avoid overheating in production units. Temperature regulation involves the manual adjustment of settings, as in the Montereau factory, where the maintenance team is responsible for setting thermostats on a daily basis, and/or the use of automated systems, adopted as an example of internal good practice in several factories in central Europe.
PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 84 Pilot projects designed to assess how artiﬁcial intelligence can strengthen and improve this approach are currently in progress. The dual objective is to make system efﬁciency partially independent of individual actions and reduce the time necessary to analyze information and develop an action plan. The resulting optimization of management could potentially cut energy consumption. 3. PPA planning for renewable energy generation Off-site Power Purchase Agreements (PPAs) are one of the tools the Group currently uses to drive decarbonization by signiﬁcantly increasing the use of renewable, photovoltaic and wind power employed in its factories. The main actions implemented in 2025 were: signature of a PPA in the Netherlands to increase the quantity of renewable energy supplied from 2026; signature of a PPA in Argentina for the supply of renewable energy from 2025; start-up of supplies under PPAs signed in 2024 for the Europe region; formal start-up of supplies under the PPA for Brazil, ahead of expectations and scheduled for the beginning of 2026. Overall, a total of approximately 100-120 GWh/ year of renewable electricity will be delivered under off-site PPAs signed in 2024 and 2025. The Group is actively exploring new PPA opportunities to further increase the percentage of energy delivered to its facilities directly from renewable power generation plants. Over the next three years, the Group plans to enter into PPAs in other regions. Expenditure on PPAs already signed is classiﬁed as OpEx and amounts to a total of around €6-8 million per year, consisting of commodities and green certiﬁcates. 4. Electriﬁcation of factories The Group is considering the electriﬁcation of heat production as a means to progressively reduce and eliminate natural gas consumption in the production process. This technology is currently being tested as part of two pilot projects at production sites at Pignataro (Italy) and Montereau (France). The Pignataro pilot project, dubbed Zero Gas, aims to completely eliminate the use of natural gas by installing a system of heat pumps in series. The initiative is particularly complex due to the fact that Pignataro uses gas not only for heating purposes but also in its production process. Therefore, the scope of electriﬁcation also includes degassing chambers. The project, approved during the year with an investment of approximately €1.3 million, continued throughout 2025, consistent with the need to carry out invasive modiﬁcations and production shutdowns while minimizing business disruption. Partial electriﬁcation is currently underway at the multi-business and multi-building Montereau plant, which uses gas for both heating and production processes. Having completed a preliminary assessment, a detailed assessment is now taking place to identify the most affected areas in which to start work. DECARBONIZATION OF THE GROUP’S FLEET OF VESSELS The CapEx plan related to the Transmission business includes an investment of approximately €600 million over six years (2022-2027), earmarked for the construction of new cable-laying vessels for connectors between the grid and offshore wind farms. In addition to strengthening Prysmian’s role as an enabler of the global energy transition, this investment includes two major initiatives related to Prysmian’s ﬂeet of vessels: the readiness of vessels to be powered by biofuel, and their connection to the power grid when docked (shore connection). 1. Use of biofuels The initiative consists of replacing fossil fuels with lower-carbon alternatives that are plant- based and produced from waste products. Speciﬁcally, the Transmission business unit’s SCOPE OF ACTION TIME HORIZON Short to medium term Own operations
Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement 85 vessels will replace conventional diesel with biofuel, thereby ensuring a signiﬁcant reduction in greenhouse gas emissions through fuel supply chain, as well as a decrease in the overall environmental impact of maritime operations. The entire ﬂeet will be progressively involved in the initiative by 2030, if market conditions and fuel availability allow. Research activities regarding procurement and a feasibility study were started in 2023. In the third quarter of 2025, the ﬁrst tests using FAME 100 biofuel were carried out on the Leonardo Da Vinci and the Cable Enterprise. The test results will be vital in validating the fuel and determining the optimal concentration to be used across the entire ﬂeet. The extra cost of using biodiesel has been estimated to range between 35% to 45% more than conventional diesel. 2. HV shore connection The HV shore connection initiative is designed to electrify some of the activities Prysmian conducts on its ﬂeet while vessels are docked for loading and unloading. The aim is to reduce greenhouse gas emissions and signiﬁcantly improve the impact of near-shore operations. Speciﬁcally, when docked, Prysmian’s vessels will be able to shut down their diesel engines and draw power from the grid. The project involves retroﬁtting existing vessels and ﬁtting new vessels for shore connection. In particular, at ports it will be necessary to set up connections to the power grid or energy storage systems on board vessels, while plants will be equipped with infrastructure to ensure power delivery. The goal is to implement the initiative across all plants and the entire ﬂeet by 2030, under the following plan: 2025: the Monna Lisa, a new ship equipped with energy storage and shore connection, was launched. 2027: a new ship with storage and shore connection will be launched. 2028: installation of the ﬁrst shore connection support at the Arco Felice/Pikkala plants is scheduled. From 2029: retroﬁtting activities extended to the rest of the ﬂeet. Planned CapEx for the HV shore connection project amounted to more than €20 million. TRANSPORT OPTIMIZATION SCOPE OF ACTION TIME HORIZON Short to medium term Own operations As in previous years, ground transportation continues to be the Group’s most commonly used form of transport (84.7% in terms of expenditure). The use of air transportation for transoceanic ﬁber optic ﬂows has been kept to a minimum to reduce the related greenhouse gas emissions. Pilot projects have also been launched in northern Europe related to electric road transport, with a long-term goal of reaching the Net Zero target. OpEX amounting to €150,000 was invested in this project, with the aim of reaching a target of 7,000 tons of cables delivered by Zero Emission Transport in 2025 (15% of domestic volumes in the Netherlands). The future goal is to deliver 8,000 tons of cables using Zero Emission Transport in 2026. Extrapolating from the cost of transport in 2025, this would mean a total OpEx of approximately €175,000 in 2026. Supplier Engagement Program As part of the Supplier Engagement Program, critical information on suppliers is collected to assess their exposure to risk in relation to ﬁnancial, operational, IT, geopolitical, and ESG KPIs, and to gather information regarding their commitment to reducing their GHG emissions. This information is used to implement a scoring system that highlights criticality in each risk area, prioritizes interventions, and guides interactions with suppliers. For more details on this project, see section ESRS S2 in this document.
PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 86 The CapEx and OpEx indicators needed for implementation of the above actions are reported in the Taxonomy KPIs when they apply to cable production lines assessed as eligible and aligned, in accordance with the description of the activity. 22 Sustainability-linked revenues: detailed information on this target is provided in section ESRS E5 - Resource use and circular economy in this document. Targets 22 The set of actions identiﬁed above comprises a good mix of targeted dedicated investments, leasing initiatives and commercial agreements, which are essential for implementation of the planned actions. The Group’s ability to implement these actions is linked to the availability of internal resources and substantial investment
Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement 87 The following table summarizes the Group’s short- and long-term science-based targets: KPI 2019 Baseline 1 absolute value (tCO 2 e) 2025 result absolute value (tCO 2 e) Performance vs. baseline 2025 Target (short- term) 2030 Target (short- term) 2035 Target (short- term) Absolute reduction in Scope 1 and 2 GHG emissions (market-based) 1,042,799 623,387 40.2% 40% 60% 90% Absolute reduction in Scope 3 GHG emissions 249,020,674 100,355,816 59.7% - 65% 90% (1) To ensure comparability of historical data, 2019 was recalculated to include Encore Wire data for the 12 months of the year, in line with the scope of reporting for 2025 and the requirements of the GHG Protocol Corporate Standard. Compared with the data reported in the 2024 Integrated Annual Report, the value has been restated following removal of the well-to-tank emission factor from calculation of Scope 3 category 11 emissions. In relation to the process of excluding the Well‑to‑Tank (WTT) component, it is speciﬁed that the approach adopted is based on a proxy derived from the impact of the exclusion applied to Category 11 to the value of the year 2024. 23 The 2029 baseline for Scope 1 and 2 published in the 2024 Integrated Annual Report is 920 ktons (CO 2 ), whilst the 2019 baseline for Scope 3 is 297,192 ktons (CO 2 ). Following the restatement in March 2025, the 2019 baseline for Scope 1 and 2 is 1,043 ktons (CO 2 ), whilst the 2019 baseline for Scope 3 is 249,021 ktons (CO 2 ). 24 With reference to category 11, emission scenarios that are not directly controllable by Prysmian are also accounted for. Prysmian’s ambitious decarbonization targets are approved by the Board of Directors and are in line with the GHG Protocol. These targets consider requirements and inputs from the market, investors, international organizations and European bodies, which are encouraging large companies to embark on increasingly robust sustainability pathways. Starting with the Net Zero by 2035 target, intermediate targets for 2025 and 2030 (short- term) were set, all aligned with the goal of limiting global warming to 1.5°C. 2019 was chosen as the baseline year (January 01 to December 31), since it was deemed to be the most representative year when science-based targets were set, in accordance with methodologies promoted by the Science Based Targets initiative (SBTi). The baseline 23 was revised when compared to the 2024 Integrated Annual Report, due to: a change in the calculation method for Scope 3 category 11, in which a well-to-tank emission factor was removed at the request of SBTi; the integration of Encore Wire for the 12 months of 2019, with an impact calculated in accordance with Prysmian’s method. The revision of the baseline, carried out in accordance with the above criteria, enabled acceleration of the process to meet the Net Zero target, moving the deadline forward to 2035 from the previous 2050. As a result, the intermediate Scope 3 target for 2030 has also been made more ambitious. The current goal is to achieve a 65% reduction from the 2019 baseline, compared with the previous 28% reduction. The roadmap related to the Net Zero 24 ambition does not take external variables completely beyond the Company’s control into account. These include major changes in regulations or currently unknown disruptive technologies, as well as aggressive assumptions such as the total decarbonization of each country’s electricity grid by 2035. Prysmian has introduced a multifunctional team to deﬁne and deploy the actions needed to achieve these targets. Deﬁnition of the decarbonization strategy (which actions to take and how to implement them) is entirely the responsibility of this team and is therefore internalized. The variables considered include: expected forecast for business volumes over the medium to long term, in line with organic business growth forecasts;
PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 88 evolution of power grids according to the International Energy Agency’s STEP scenario, and the signiﬁcance of low‑carbon energies in new installed capacity; the contribution of technological innovation in Prysmian’s products, in terms of both cable efﬁciency and new materials under study; market availability of high quality and economically sustainable recycled raw materials; partner engagement, especially in the supply chain, to ensure increasingly accurate calculations, and to share information about transition plans already in place in the value chain; forecast evolution of energy markets regarding the purchase of low-carbon electricity and biofuels such as biomethane and biodiesel; expected growth in the ﬂeet of vessels; planned investment in electriﬁcation at production sites. The working team meets on a quarterly basis, both internally and with their corresponding 25 Sustainability-linked revenues: detailed information on these metrics is provided in section ESRS E5 - Resource use and circular economy in this report. 26 For conversion to GJ, input data expressed in kg or m³ of fuel were multiplied by the respective conversion factors (source: DEFRA 2025). The GJs of each energy carrier were multiplied by a constant of 0.27778 to obtain the MWh consumed. regional counterparts. Also on a quarterly basis, with regard to Scope 1 and 2, the team submits an update to senior management and the Sustainability Committee on the results for the period just ended, as well as a review of estimates and ongoing projects. These meetings enabled strategic deﬁnition of priority activities, as well as establishment of clear criteria for their implementation, and guaranteed constant monitoring of ongoing actions, thereby encouraging alignment between goals and expected results. Reporting to management and the Committee on Scope 3 takes place on an annual basis. Metrics 25 Energy consumption “Energy consumption” means energy consumed within the organization’s scope of reporting. This value is expressed in MWh and includes both purchased and self-produced energy. Energy consumption by source (37., 38., AR 34.) - MWh 26 2025 2024 (1) 38. (a) Fuel consumption from coal and coal products – – 38. (b) Fuel consumption from crude oil and petroleum products 376,101 275,479 38. (c) Fuel consumption from natural gas 717,838 717,344 38. (d) Fuel consumption from other fossil sources – – 38. (e) Consumption of purchased or acquired electricity, heat, steam or cooling from fossil sources 1,159,251 1,214,607 37 (a) Total energy consumption from fossil sources 2,253,190 2,207,429 AR 34. Percentage of fossil sources on total energy consumption 76.96% 79.71% 37. (b) Total energy consumption from nuclear sources 73,712 41,699 AR 34. Percentage of consumption from nuclear sources on total energy consumption 2.52% 1.51% 37. (c) i. Fuel consumption for renewable sources including biomass (also comprising industrial and municipal waste of biologic origin), biofuels, biogas, hydrogen from renewable sources, etc. 1,046 1,038 37. (c) ii. Consumption of purchased or acquired electricity, heat, steam and cooling from renewable sources 561,294 506,423 37. (c) iii. Consumption of self-generated non-fuel renewable energy 38,501 12,792 37. (c) Total energy consumption from renewable sources 600,841 520,253 AR 34. Percentage of consumption from renewable sources on total energy consumption 20.52% 18.78% 37. Total energy consumption 2,927,743 2,769,382 (1) 2024 corresponds to what was reported the previous year, where the data from Encore Wire were integrated only for the 6-month period during which the company was owned by Prysmian.
Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement 89 During the year, Prysmian continued to implement its energy efﬁciency program across its operational sites, reafﬁrming its commitment to reducing the environmental impacts of production activities. Despite these efforts, the 2025 energy consumption ﬁgure shows an increase compared to the previous year. This change is mainly attributed to two factors: 27 Please refer to Note 18 – Revenues in the explanatory notes to the Integrated Annual Report. higher production volumes, which resulted in greater energy demand, and the expansion of the reporting perimeter. In 2024, only six months of consumption related to the acquisition of Encore Wire were included, whereas in 2025 the reporting covers the full year, in line with the criteria applied to ﬁnancial reporting. Energy production in MWh related to self-generation of renewable energy via on-site photovoltaic systems is shown below: Energy production (39.) - MWh 2025 2024 (1) 39. Non-renewable energy production – – 39. Renewable energy production 38,501 12,792 (1) 2024 corresponds to what was reported the previous year, where the data from Encore Wire were integrated only for the 6-month period during which the company was owned by Prysmian. The ratio of energy consumption produced to associated revenues is also reported. As Prysmian is in a high climate impact sector, net revenue is shown in the Directors' report, in the section on the Group’s operating performance and in the notes to the ﬁnancial statements in the income statement section. Energy intensity (40., 41., 42.) 2025 2024 (1) 40. Total energy consumption per net revenue associated with activities in high-impact climate sectors (MWh/Euro MLN revenue) 149 163 41. Total energy consumption associated with activities in high-impact climate sectors (MWh) 2,927,743 2,769,382 Optional - Total net revenue (as per the ﬁnancial statements) Euro MLN 27 19,650 17,026 42. High climate impact sectors that are used to determine energy intensity All sectors in which the Group operates (1) 2024 corresponds to what was reported the previous year, where the data from Encore Wire were integrated only for the 6-month period during which the company was owned by Prysmian.
PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 90 Emissions GHG Emissions (34. a, 34.b, 48., 49., 51., 52.) 2025 2024 (1) YoY change Scope 1 GHG Emissions Absolute value (tCO₂e) 263,302 227,215 +16% Percentage of Scope 1 GHG emissions covered by regulated emissions trading systems 0 0 n.a. Scope 1 biogenic emissions (tCO₂e) 306 0 n.a. Scope 2 GHG emissions – location-based Absolute value (tCO₂e) 442,173 474,155 -7% Scope 2 GHG emissions – market-based Absolute value (tCO₂e) 360,085 393,573 -9% Scope 1 + Scope 2 GHG emissions – location-based Absolute value (tCO₂e) 705,476 701,370 +1% Emission Intensity based on revenue (tCO₂e per Euro MLN) 35.9 41.2 -13% Scope 1 + Scope 2 GHG emissions – market-based Absolute value (tCO₂e) 623,387 620,788 0% Emission Intensity based on revenue (tCO₂e per Euro MLN) 31.7 36.5 -13% GHG Emissions Scope 3 Absolute total value (tCO₂e) 100,355,816 111,344,092 -10% Emission Intensity based on revenue (tCO₂e per Euro MLN) 5,107.2 6,539,7 -22% Scope 3 GHG emissions – absolute value by category (tCO₂e) 1. Purchased goods and services 13,009,868 11,747,429 +11% 2. Capital goods 479,853 324,258 +48% 3. Fuel- and energy-related activities (not included in Scope 1 or Scope 2) 207,031 199,625 +4% 4. Upstream transportation and distribution 515,515 443,212 +16% 5. Waste generated in operations 26,616 19,692 +35% 6. Business travel 30,107 23,102 +30% 7. Employee commuting 55,434 52,508 +6% 8. Upstream leased assets 1,345 660 +104% 9. Downstream transportation and distribution 17,282 23,703 -27% 11. Use of sold products 85,983,219 98,350,097 -13% 12. End of life treatment of sold products 11,638 46,847 -75% 15. Investments 17,909 112,960 -84% Total GHG Emissions Scope 1 + Scope 2 - Location based + Scope 3 Absolute value (tCO₂e) 101,061,292 112,045,462 -10% Emission Intensity based on revenue (tCO₂e per Euro MLN) 5,143.1 6,581 -22% Scope 1 + Scope 2 - Market based + Scope 3 Absolute value (tCO₂e) 100,979,203 111,964,880 -10% Emission Intensity based on revenue (tCO₂e per Euro MLN) 5,138.9 6,576.0 -22% Revenue used for the intensity calculation Revenue value (Euro M) 19,650 17,026 +15% (1) 2024 corresponds to what was reported the previous year, where the data from Encore Wire were integrated only for the 6-month period during which the company was owned by Prysmian.
Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement 91 The model for calculating GHG emissions has been updated compared with the 2024 Integrated Annual Report 28 . The updated model includes: a change in the calculation methodology for Scope 3 category 11, in which a well-to-tank emission factor was removed, partly due to a request made by SBTi (the reduction value is derived from a proxy based on 2024); a timely update of the future evolution of IEA emission factors in the STEP 29 scenario. Revision of the outlook has led to a signiﬁcant reduction in emissions, as the STEP scenario has, in recent years, incorporated accelerated climate ambitions in the Group’s main markets, above all in Europe and North America. This has resulted in a lower emission impact over the life cycle of sold products. In terms of the scope of reporting, it should be noted that in 2024 Prysmian ﬁnalized the acquisition of Encore Wire, which resulted in a change in the company’s structure and its upstream and downstream value chain. This 28 The difference between the Scope 3 emissions value for 2024 – as published in the Integrated Annual Report as at December 31, 2024 – and the value restated in this report amounts to approximately ‑124 million tonnes of CO₂e. 29 The outlook for future Scope 3 category 11 emission factors has been revised in accordance with the IEA’s World Energy Outlook 2024. acquisition had a direct impact on reported greenhouse gas (GHG) emissions, which particularly affected: Scope 1 emissions, after integration of the acquired company’s production activities; Scope 2 emissions, in connection with the company’s energy consumption and related supply sources; Scope 3 emissions, due to changes in the supply and distribution chain connected with the acquisition. Prysmian comprehensively collects data on consumption and GHG gas releases, which are entered by each operating unit into a shared tool used by all entities within the scope of reporting. These data are then validated by regional managers at Operations and Finance levels. The methodologies, assumptions and emission factors used to calculate and measure emissions are shown in the Methodological Note.
ESRS E2 – POLLUTION
PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 94 E2 – POLLUTION Governance Prysmian’s pollution governance is based on a comprehensive multilevel framework, guided by the HSEE Policy. This integrates environmental sustainability into business strategy and decision-making processes. In its 2025 Consolidated Sustainability Statement, Prysmian reafﬁrmed its commitment to reducing pollution via a robust and transparent governance system, involving corporate and regional teams. The Group’s HSE team oversees governance of pollution-related topics, with the support of the Sustainability and R&D teams, and is responsible for: Monitoring pollution-related environmental impacts, risks and opportunities via key performance indicators (KPIs); Coordinating regional and country HSE teams, to ensure that global initiatives are implemented at local level. Strategy Prysmian reafﬁrms its commitment to manage pollution responsibly, by adopting a systematic strategy throughout the value chain. This strategy, which is an integral part of the Group’s ESG vision, is based on four pillars: environmental governance, monitoring and reporting, technological innovation, and stakeholder engagement. The pollution management strategy extends to product design and production process optimization. Prysmian invests in eco-friendly technologies and adopts solutions to reduce pollutant emissions as well as the use of substances of concern in products. In line with the HSEE Policy, Prysmian’s approach is based on continuous improvement, including: systematic identiﬁcation and assessment of pollutants; adoption of low environmental impact technologies and production processes, including investments aimed at reducing direct emissions. Similarly, regarding the use of substances of concern, Prysmian takes a proactive and responsible approach, in line with the principles of sustainability and health protection underpinning its strategy. The company actively collaborates with leading industry associations, such as Europacable and Ceﬁc, to identify and develop alternatives to hazardous substances. Prysmian takes a timely and conservative approach, by continuously updating its analysis of substances of very high concern (SVHC) and integrating it into business processes. This commitment results in implementation of plans to substitute or phase out substances classiﬁed as substances of concern, including those on the European Chemicals Agency’s (ECHA) SVHC list. These measures are an integral part of Prysmian’s long-term strategy to create sustainable value for all stakeholders.
Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement 95 Identiﬁcation of IROs related to pollution Sub-topic Impact Positioning in the value chain Positive/ negative Actual/ potential Time horizon Pollution of air Air pollution associated with cable production Own operations (production activities) Actual Short term Substances of concern Substances of very high concern Use of substances of concern in the production process Own operations (production activities) Potential Long term Pollution of air Air pollution caused by vessels Own operations (installation activities) Actual Short term Pollution of water Water pollution due to mining activities of raw materials, such as copper and bauxite Upstream Potential Medium term Pollution of air Air pollution associated with base metal reﬁning processes Upstream, Downstream Actual Medium term The environmental impact associated with raw material extraction operations upstream of the Group’s supply chain has been identiﬁed as signiﬁcant, especially regarding emissions into the air and water. Mining operations, such as copper production and reﬁning processes, may generate dust and pollutants that are detrimental to air quality and contribute to the formation of acid rain. These activities may also produce hazardous waste, with a potential risk of contaminating water resources. In Prysmian’s direct operations, this can include emissions from cable production and installation – including activities carried out via the Group’s vessels – primarily in regard to nitrogen oxides (NOx) and other signiﬁcant substances. These emissions mainly derive from combustion of natural gas, which is used for heating and production processes, including ﬁber optics. Prysmian’s current process for quantifying emissions has enabled deﬁnition of a materiality criterion by conducting surveys at Group plants. The aim is to analyze site‑speciﬁc activities in relation to potential emission of air pollutants. Financial Materiality Not material 2 = Financial materiality threshold Material Not material 2.5 = Impact materiality threshold Material Impact Materiality E2 - Pollution Pollution of water Pollution of air Substances of concern Substances of very high concern Positive impact Negative impact
PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 96 Based on the data gathered, the plants deemed relevant for reporting this KPI include the ones that: make direct measurements of nitrogen oxides (NOx) and sulfur oxides (SOx), as they are subject to local regulations that impose mandatory emission limits; do not make direct measurements but do declare the presence of production activities that may potentially be responsible for emission of these substances. With regard to substances of concern and substances of very high concern, the potential impact relates to the use of particular additives during manufacturing processes. In detail, at its business units Prysmian uses organic solvents: in some industrial processes, such as the cable marking process (using inks containing solvents); in washing/cleaning/maintenance activities. 30 HSEDM is the digital tool Prysmian uses worldwide to monitor and measure all health, safety and environment indicators 31 The policies, actions, and targets described in the table have been linked to the IROs identiﬁed in the double materiality assessment, and there is no systematic direct connection between the actions, policies, and targets. Moreover Prysmian, in the production process, also uses industrial additives, plasticizers, pigments, lead compounds. Solvents consumed are monitored annually via the HSEDM digital tool, 30 whereby each unit reports the types and amounts of solvents used. Total non-methane volatile organic compounds (NMVOCs) emitted to the atmosphere are considered equal, by weight, to the total amount of all solvents used during a year and reported externally. It should also be noted that the ﬁnancial materiality assessment did not identify material risks and opportunities related to ESRS E2 “Pollution”. More details on the process of identifying material impacts, risks and opportunities, and on stakeholder engagement methods, may be found in the ESRS 2 section. Material IRO management procedures IRO 31 Policy Action Target I - Air pollution caused by vessels HSEE Policy Selective catalytic reduction (SCR) system I - Air pollution associated with cable production HSEE Policy Monitoring of pollutants emitted by operational units I - Use of substances of concern in the production process HSEE Policy Removal/substitution of substances of concern from products I - Water pollution due to mining of raw materials such as copper and bauxite Continuous monitoring of suppliers via supplier engagement activities (see section ESRS S2) Increased number of onsite sustainability audits of suppliers (see section ESRS S2) I - Air pollution associated with base metal reﬁning processes Continuous monitoring of suppliers via supplier engagement activities (see section ESRS S2) Increased number of onsite sustainability audits of suppliers (see section ESRS S2)
Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement 97 Policies Prysmian’s commitment to environmental protection is borne out by the intrinsic nature of its products, and the responsible management of its production systems, aimed at reducing environmental impact and curbing pollution in all its forms. This commitment is extended throughout the value chain via implementation of the Health, Safety, Environment and Energy Policy (HSEE). See the “Policies” section of ESRS E1 in this document for details about this policy. Prysmian deems environmental protection – including making a positive impact on the climate, mitigation against extreme weather events, biodiversity preservation, and reduced use of hazardous substances – to be an essential prerequisite for achieving its goals and creating added value for all the Group’s internal and external stakeholders. Speciﬁcally, the HSEE Policy contributes to: Mitigation of negative impacts on air, water and soil: via pollution prevention and control, accompanied by continuous monitoring of substances released into the environment during production processes and product use. Substitution and minimization of use of substances of concern: Prysmian is committed to phasing out substances of very high concern, especially for nonessential uses, by promoting safe and sustainable practices in all operations. This approach helps to protect the environment and reduce the risk of accidents related to operators’ use of these substances, throughout the production cycle. Through these principles, Prysmian promotes continuous improvement of production processes and related activities, by adopting a life-cycle perspective and strengthening its safety culture. 32 The efﬁciency of catalytic reduction depends on several factors, including: – the dosage of the reducing agent; – the amount of catalytic elements; – the temperature of the exhaust gas. 33 Cable-laying vessels that use this kind of technology to date are the Ulisse, Leonardo da Vinci, Monna Lisa, Marco Polo, Alessandro Volta and Cable Enterprise. Actions SELECTIVE CATALYTIC REDUCTION (SCR) SYSTEM The Selective Catalytic Reduction (SCR) system helps improve air quality by reducing up to 90% 32 of the harmful nitrogen oxides produced by vessel engines during combustion 33 . This involves injection of a urea solution into the exhaust gas, which reacts with a catalyst to transform nitrogen oxides into harmless substances, such as nitrogen and water. Use of urea solution avoids direct use of ammonia, which is highly toxic and volatile. SCR systems also have software that enables self- adjustment, depending on the exhaust gas temperature and the generator load, to ensure that emissions always stay below maximum legal limits. This technology signiﬁcantly reduces harmful emissions, thus contributing to environmental protection and sustainable operations. With reference to the planned substitution of substances of concern, OpEx and CapEx data cannot be released, as they are classiﬁed as conﬁdential. SCOPE OF ACTION TIME HORIZON In progress Long term Own operations (vessels)
PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 98 MONITORING OF POLLUTANTS EMITTED BY OPERATIONAL UNITS SCOPE OF ACTION TIME HORIZON In progress Long term Own operations As mentioned in the section “Identiﬁcation of IROs related to pollution”, in 2024 Prysmian initiated a comprehensive project to monitor pollutants released into the air. Following the analysis of a questionnaire administered to the Group’s production sites – reporting the results of measurement campaigns and data collection across the various manufacturing activities – Prysmian was able to identify three categories of sites: those with processes that generate signiﬁcant NOx and/or SOx emissions and that have an active monitoring plan in place; those with potentially emissive processes but without direct monitoring; and those where estimated emissions fall below the materiality threshold. In 2025, Prysmian adopted a methodology to assess the environmental impact associated with the pollution indicators already considered in previous years, as well as to identify additional pollutants potentially present within its operational units. The approach adopted for 2025 has been formalized in the Group procedure “Assessment of Air and Water Pollutants”, which aims to identify signiﬁcant pollutants across the various production sectors – those with potential impacts on air and/or water – and to quantify them at Group level. The procedure will be formalized and systematically implemented starting in 2026. In 2025, only NOx emissions to the air were material, and were quantiﬁed at Group level based on sampling and estimates. Prysmian is committed to monitoring the applicability and materiality of various air and water pollution parameters, and updating the procedure, when necessary, to manage the company’s pollutant emissions in a systematic and evidence-based manner. To date, the project has not entailed substantial OpEx or CapEx. Starting in subsequent years, it will be possible to quantify the ﬁnancial resources needed to implement emission monitoring and reduction plans. SUBSTITUTION OF SUBSTANCES OF CONCERN Regarding the presence of substances of concern in the cable and ﬁber production process, Prysmian has launched speciﬁc projects designed to replace them with alternative materials that do not contain such components. The following solutions have been identiﬁed: Lead in metallic form: A lead-free solution for lead sheathing in extruded land cables has been developed and fully qualiﬁed for up to the highest voltage classes (400 kV AC, 525 kV DC). R&D activities are in progress to develop innovative solutions in undersea applications, based on hermetic barriers using alternative metals, all-polymer materials or hybrid conﬁgurations. However, the absence of recognized international standards still poses a challenge for qualiﬁcation of these solutions, which in turn slows down their substitution and elimination. SCOPE OF ACTION TIME HORIZON In progress Long term Own operations
Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement 99 TPO coating (optical ﬁber): A project is underway with a coatings supplier to replace TPO with alternative substances. Several formulations are currently being evaluated, starting with the outermost layers of the optical ﬁber coating system, which are deemed to be less critical. PFAS (Per- and polyﬂuoroalkyl substances): Prysmian limits the use of PFAS to polymeric versions, which are deemed to be less hazardous than small, ﬂuorinated molecules. Even though in some applications (e.g., aerospace, defense, chemical resistance) viable alternative techniques are not yet available, the company is implementing a plan to eliminate them where possible, primarily via these actions: 1. Removal of PFAS-based process additives; 2. Reduction of PFAS insulation materials in ﬂame retardant multimedia cables; 3. Implementation of a traceability system, to identify and monitor amounts and types of PFAS in cables. MCCP (medium-chain chlorinated parafﬁns): A worldwide plan is in place to phase out the use of MCCP as a plasticizer in PVC compounds. To this end, assessments are underway regarding bio-based alternatives and switching to longer chains of MCCPs (not included in the Reach Regulation). Lead-free insulating compounds Development of lead-free insulating compounds for cable insulation is at an advanced stage. Qualiﬁcation will be completed by the end of 2025, including extension to medium- and high-voltage undersea and land cables. Application is also being extended to MV and HV cable network components, which will enter a pre- qualiﬁcation phase by the end of 2025. With reference to the planned substitution of substances of concern, OpEx and CapEx data cannot be released, as they are classiﬁed as conﬁdential.
PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 100 Target Regarding pollution, each Group business unit sets targets and draws up action plans based on assessment of environmental impacts, in accordance with the HSEE policy and the environmental management system. This system, which is ISO 14001 certified in 96% of production plants, monitors performance indicators and promotes continuous improvement in environmental performance. With regard to substances of concern, Prysmian has embarked on a comprehensive substitution program, over a timeframe through 2028. This does not include substitution of metallic lead in undersea applications (see activity description for more details). However, implementation of this plan will depend on how the regulatory framework evolves, as well as commercial trends, with a view to ensuring service excellence in line with market expectations. Metrics ESRS 2-4 Pollution of air, water, and soil Unit of measurement Total 2025 Total 2024 28. (a) Emissions of pollutants into the air Ton 2,848.5 5,337.5 NOX Ton 2,848.5 5,337.5 SOX Ton N/A N/A NMVOCs Ton N/A N/A 28. (a) Emission of pollutants into water Ton N/A N/A 28. (a) Emission of pollutants into the soil Ton 0 0 For the quantiﬁcation of air and water pollution, Prysmian selected a number of sites considered representative in terms of both size and type of production (Arco Felice and Pignataro for energy cables, and Douvrin for optical ﬁber). These sites were used to verify the applicability of the parameters set out in the table included in Annex II of Regulation (EC) No. 166/2006 of the European Parliament and of the Council of 18 January 2006, concerning the establishment of a European Pollutant Release and Transfer Register and amending Council Directives 91/689/EEC and 96/61/EC. With reference to 2025, only NOx emissions to air were found to be material and were quantiﬁed at Group level, following an approach based on the analysis of data provided by the production sites. For plants with processes entailing potentially material environmental impacts, but whose Based on the results of ongoing projects, as of next year Prysmian plans to: A B C SET improvement goals BOOST MONITORING of processes and qualitative and quantitative indicators used to assess progress made REPORT the effectiveness of its policies and actions regarding material impacts, risks and opportunities related to sustainability
Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement 101 emissions are not directly monitored, NOx emissions were calculated by multiplying the fuel consumption recorded in 2025 by speciﬁc emission factors derived from Ecoinvent and EMEP/EEA (Air Pollutant Emission Inventory Guidebook) databases. Emissions from electricity, district heating and steam consumption were excluded, as they were not deemed to be direct company emissions. For the sites subject to regulatory monitoring, the most recent available NOx measurements were collected, allowing the calculation of annual emissions for 2025. Moreover, NOx emissions from vessels were estimated from Marine Gas Oil consumption, and then multiplied by the speciﬁc emission factor from the EMEP/EEA database. Prysmian is not authorized to release pollutants into the soil. All materials used in the main and ancillary stages of the production process are managed as waste, products, or emissions into the air or water, in accordance with current regulations. No accidental spills occurred during the reporting period and, as a result, no clean- up activities are in progress at any site. Direct soil pollution therefore amounted to zero. Regarding water pollution, water discharges in Italian plants are monitored annually, as required by Single Environmental Authorization regulations. In the absence of direct water pollution data for all the Group’s plants, the speciﬁc characteristics of each site’s activities and local regulatory requirements are included, with the aim of improving traceability and control of the potential environmental impact related to use of water resources. Prysmian reports all highly polluting substances in which lead is the substance most generated and used during the production process. These substances are set out in the table below. Substances of concern and of very high concern – ton 2025 – Amount generated or used during production 2024 – Amount generated or used during production 34. Substances of concern <3,000 <3,500 Citric acid, nickel ammonium salt <10 <1 Citric acid, nickel salt <10 <1 (methylenebis(4,1-phenylenazo(1-(3-(dimethylamino)propyl)- 1,2-dihydro-6-hydroxy-4-methyl-2-oxopyridine-5,3-diyl)))-1,1'- dipyridinium dichloride dihydrochloride <1 <1 3-[3-(4?-bromo[1,1?biphenyl]- 4-yl)-1,2,3,4-tetrahydronaphth- 1-yl]- 4-hydroxy-2H-1-benzothio pyran-2-one <1 <1 Distillates (petroleum), hydrotreated heavy parafﬁnic <200 <200 1,3-dihydro-4(or 5)-methyl-2H-benzimidazole-2-thione, zinc salt <1 <1 Distillates (petroleum), hydrotreated light parafﬁnic <1 <1 Distillates (petroleum), hydrotreated heavy naphthenic <25 <20 Residual oils (petroleum), solvent de-waxing <50 <100 Bumetrizole <1 <1 Benzotriazole <1 <1 Bis (a,a-dimetilbenzil) peroxide Included among the substances of very high concern for 2025 <3,000 1,1'-(ethane-1,2-diyl)bis[pentabromobenzene] (DBDPE) <2,500 - 35. Substances of very high concern 29,291 26,048 Boric acid 1 0 Lead monoxide (lead oxide) 72 6 Orange lead (lead tetroxide) 190 247 Diazene-1,2-dicarboxamide (C,C'-azodi(formamide)) 4 3 Imidazolidine-2-thione (2-imidazoline-2-thiol) 8 1 Dodecamethylcyclohexasiloxane (D6) 1 1 Lead 23,721 25,101 Continues >>
PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 102 Substances of concern and of very high concern – ton 2025 – Amount generated or used during production 2024 – Amount generated or used during production Tris (4-nonylphenyl, branched and linear) phosphite (TNPP) with ? 0.1% w/w of 4-nonylphenol, branched and linear (4-NP) 2 3 4,4'-isopropylidenedipheno 0 2 Decamethylcyclopentasiloxane (D5) 0 0 Octamethylcyclotetrasiloxane (D4) 1 0 Dioctyltin dilaurate 160 14 Medium-chain chlorinated parafﬁns (MCCP) 338 602 Fatty acids, C16-18, lead salts 2 0 6-6'-di-tert-butyl-2,2'-methylenedi-p-cresol 1 0 tris(2-methoxyethoxy)vinylsilane 158 53 Diarsenic trioxide 0 2 Diarsenic pentaoxide 0 0 Dibutyl phthalate (DBP) 0 0 Alkanes, C14-17, chloro 283 0 2-methyl-1-(4-methylthiophenyl)-2-morpholinopropan-1-one 1 1 Lead sulfochromate yellow (C.I. Pigment Yellow 34) 0 0 Bis (2-ethylhexyl)phthalate (DEHP) 425 0 Bis(α,α-dimethylbenzyl) peroxide 3,874 <3,000 (included in the list of substances of concern for 2024) Bis(pentabromophenyl) ether (decabromodiphenyl ether; DecaBDE) 34 0 [Phthalato(2-)]dioxotrilead 10 0 Bis(2-ethylhexyl) tetrabromophthalate covering any of the individual isomers and/or combinations thereof 3 12 Bumetrizole (UV-326) 1 1 2-(2H-benzotriazol-2-yl)-4,6-ditertpentylphenol (UV-328) 0 0 Procured volumes of substances of very high concern (SVHC) were estimated thanks to preparatory work carried out over the past three years by the Corporate R&D team in collaboration with regional teams. This led to mapping of raw materials containing these substances. Based on this information, the Procurement team provided data on the volumes procured during the reporting period, which enabled amounts of SVHCs to be calculated using their percentage content in raw materials. For substances of high concern, the procured volume was estimated by combining two approaches: on the one hand, by using knowledge of the main raw materials containing these substances, and applying a corrective margin; and on the other hand, by referring to the consumption of SVHC substances with similar functions, whose volumes were calculated using the same methodology, and applying an adjustment margin. From an overall viewpoint, the combined volume of substances of high concern and of very high concern rose approximately 2,500 tons in 2025 compared with 2024. The increase primarily reﬂects introduction of a new substance of high concern, decabromodiphenyl ethane (DBDPE), estimated consumption of which amounted to approximately 2,500 tons in 2025. Dicumyl peroxide (α,α-dimethoxybenzyl) (DCUP) has been transferred from the list of substances of high concern to that of substances of very high concern, following the conclusion of an eighteen-month adaptation period under the EU Taxonomy Regulation. Decabromodiphenyl ethane (DBDPE), also included in the list of substance of very high concern in November 2025, will be subject to the same adaptation period. >> Continued
Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement 103 For the reporting period under review, Prysmian has not provided data regarding total amounts of substances of concern leaving Group plants in the form of emissions, products or product components, and services. This is because a system for collecting data on the content of these substances in relation to volumes brought to market is not yet available. In the coming years, the company plans to develop special 34 Signiﬁcant monetary penalties are deﬁned as ﬁnes exceeding €10,000. tools and methodologies that enable more comprehensive and transparent reporting, in line with growing regulatory and sustainability requirements. In 2025, no significant 34 penalties (monetary or otherwise) were imposed on the Group for regulatory non-compliance related to environmental matters.
ESRS E3 – WATER AND MARINE RESOURCES
PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 106 E3 – WATER AND MARINE RESOURCES Governance In 2025, Prysmian further strengthened its commitment to responsible and sustainable water resource management by fully integrating these activities into the Group’s ESG strategy. The approach taken consists of centralized governance that uses localized monitoring. Central teams deﬁne the policy related to water (which is integrated into the HSEE policy), its materiality, objectives (qualitative/quantitative) and performance indicators, as well as water management and monitoring procedures and tools. At the same time, local operations teams monitor water consumption, providing data and information that the corporate HSE team uses to assess overall Group-wide performance. The resulting KPIs are integrated into the company’s environmental reporting systems and analyzed on a regular basis, with the aim of ensuring transparency, continuous improvement, and compliance with local and international regulations. This governance model enables Prysmian to make a concrete contribution to protecting what is an increasingly critical resource for the planet. Strategy Prysmian’s commitment to sustainable water resource management is aimed at minimizing environmental impact throughout the entire production cycle. These efforts are applied across three main areas: reducing consumption; optimizing industrial processes; and increasing water reuse and recycling. This approach is underpinned by the HSEE Policy, which commits Prysmian to optimizing the use of all resources (including water), preventing pollution by mitigating the impacts of the company’s processes and products, and ensuring adequate access to safe water, sanitation and hygiene (WASH) for all workers. In line with the risk assessment approach, the company has also identiﬁed plants located in high water stress areas. Priority water efﬁciency actions have been created for these areas, including the adoption of low-consumption technologies. Advanced monitoring systems have been introduced that enable prompt tracking of abstractions, discharges, and water- saving performances, which makes water management more informed, targeted, and effective, including with regard to identiﬁed risks. This control system is applied to plants located in water-stressed areas, and to the entire production network, providing an ongoing, comprehensive overview of the Group’s water performance. Prysmian is also committed to ensuring access to safe water, sanitation and hygiene for all employees at all Group sites, and to supporting partners along value chains and in neighboring communities. The Group’s strategy, which is aligned with the United Nations Sustainable Development Goals, especially Goal 6 – Clean water and sanitation, marks a concrete commitment to climate resilience and preservation of natural resources.
Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement 107 Identiﬁcation of IROs related to water and marine resources Sub-topic Sub-sub- topic Impact Positioning in the value chain Positive/ negative Actual/ potential Time horizon Water Water consumption Water consumption during the production process Own operations (production activity) Potential Medium term Water Water consumption Water consumption for base metal processing Upstream Actual Medium term The double materiality assessment led to identiﬁcation of two material impacts: one within the Group’s own operations; another in the upstream value chain. The latter is related to water consumption in base metal processing, which reduces its availability for ecosystems and other uses, potentially exacerbating water stress conditions. Within the Group’s own operations, water use has an impact in the production process, where it is primarily used for cooling purposes. In almost all plants, cooling water is recirculated to reduce the volume of water abstracted and thereby mitigate the impact generated. Bodies of water potentially affected by the aforementioned activities include rivers, lakes, and local groundwater. The double materiality assessment also analyzed the impact ship activities may have on water and water resources, but this was judged to be immaterial and revealed no signiﬁcant risks or opportunities. Affected local communities were not directly consulted to assess impacts related to water management, although analyzes conducted within the scope of the WASH Pledge were taken into account. More details are provided below. Prysmian annually updates analysis of its plants located in water-stressed areas, assessing the relationship between water demand and its availability through 2040. This analysis is conducted using the Aqueduct tool, which was developed by the World Resources Institute (WRI), and is recommended by the Task Force on Climate-related Financial Disclosures (TCFD). More details on the process of identifying material impacts, risks and opportunities may be found in the section ESRS 2. Financial Materiality Not material 2 = Financial materiality threshold Material Not material 2.5 = Impact materiality threshold Material Impact Materiality E3 - Water and marine resources Water consumption Positive impact Negative impact
PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 108 Material IRO management procedures IRO 35 Policy Action Target I - Water consumption during the production process HSEE Policy Mitigation plan and recirculation systems Water collection and metering systems I - Water consumption for base metal processing Continuous monitoring of suppliers via supplier engagement activities (see section ESRS S2) - Activities in progress Increased number of onsite sustainability audits of suppliers (see section ESRS S2) 35 The policies, actions, and targets described in the table have been linked to the IROs identiﬁed in the double materiality assessment, and there is no systematic direct connection between the actions, policies, and targets. 36 More details on the HSEE Policy may be found in section E1 - Climate change. 37 The document is available on the company’s website: https://www.prysmian.com/en/sustainability/responsible-business/ supply-chain Policies Prysmian’s approach to water management is set out in the Health, Safety, Environment and Energy (HSEE) Policy 36 . This policy highlights the Group’s commitment to optimizing the consumption of natural resources, including water and raw materials, and to prevent pollution by identifying, monitoring and reducing the environmental impact of processes and products. Water consumption is optimized through application of the HSEE policy, which sets out core principles underlying the Group’s actions in carrying out its direct activities and covers water management in all plants, including those located in water-stressed areas. Prysmian also refers to the Supply Chain and Vendor Management document 37 (see section ESRS S2) to manage impacts identiﬁed along the supply chain. Actions The actions referred to in this section are applied across the board to all Group sites, regardless of their location in water-stressed areas, to ensure a standardized and precautionary approach to water management. MITIGATION PLAN AND RECIRCULATION SYSTEMS SCOPE OF ACTION TIME HORIZON Recurring activities, in progress Own operations The mitigation plan calls for additional improvements in the amount of recirculated water and/or the installation of new recirculation systems to optimize water consumption when and if necessary or cost-effective.
Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement 109 To reduce the impact on water resources, all new installations are designed using closed-loop cooling systems. In existing plants, the goal is to enhance the effectiveness of systems currently in use by increasing the percentage of recirculated water (if possible) and periodically monitoring consumption. This enables any anomalies to be detected early and acted promptly to avoid additional consumption. The activities covered in the plan regard all of Prysmian’s direct operations worldwide. Key stakeholders affected by these initiatives include local communities in area hosting plants, which beneﬁt from more sustainable and responsible management of water resources. The plan operates across short- and medium- term time horizons, including continuous monitoring of progress. In line with actions initiated in previous years – speciﬁcally analysis of volumes of water abstracted, consumed and discharged – Prysmian continues to improve its water performance via targeted interventions. In 2025, the Company upgraded procedures that regulate the ﬂow (collection, veriﬁcation, validation) of environmental data and related reporting, integrating speciﬁc water consumption indicators into its ESG monitoring tools. Internal training activities were also organized to raise employees’ awareness of responsible water use. Prysmian aims to ensure a high rate of water recirculation in its production processes, thereby helping reduce dependence on external withdrawals and minimize discharges. To date, the projects presented have not entailed substantial OpEx or CapEx. WATER COLLECTION AND METERING SYSTEMS SCOPE OF ACTION TIME HORIZON Recurring activities, in progress Own operations Local wastewater collection systems carry industrial and civil wastewater. After undergoing sampling and analysis in accordance with legislative requirements and internal procedures, the wastewater is discharged to the ﬁnal receptors (sewer systems, surface water bodies). Due to the presence of partial or complete industrial water recirculation systems, the total volume discharged is lower than it would have been without such systems. Sites with complete 100% recirculation do not discharge, but rather use water in closed circuits, adding only the amount lost to evaporation, and thereby reducing water abstractions and discharges. The activities described regard Prysmian’s direct operations and are carried out in all Group plants. Key stakeholders involved include the local communities where plants are located, which beneﬁt from more sustainable water management. Consumption and discharge data are periodically monitored and measured within the Environmental Management System, with improvement actions implemented on an ongoing basis. To date, the projects shown have not entailed substantial OpEx or CapEx.
PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 110 Targets No water management targets have been set at Group level; planning and implementation of speciﬁc programs, including reducing abstractions and increasing water recirculation, is the responsibility of each business unit. Each site uses special instruments, such as meters, to constantly monitor the volume of water consumed in terms of absolute value and in relation to production. Water is one of the environmental aspects managed within the HSEDM system. Signiﬁcant aspects and impacts have been identiﬁed at site level, and actions to be taken to manage them have been deﬁned. To date, 96% of the Group’s sites have obtained ISO 14001 certiﬁcation. This ensures that the vast majority of Prysmian’s plants deal with water issues via certiﬁed systems. The HSE team also tracks water consumption at a consolidated level, in order to monitor progress and identify possible improvement actions related to risks associated with water resources. In many cases, environmental licenses and permits contain speciﬁc requirements, and require systematic checks by local authorities. As already mentioned in the section on pollution (ESRS E2), Prysmian assesses the effectiveness of its policies and actions regarding sustainability-related impacts, risks and opportunities via certiﬁed HSEE management systems. Prysmian also monitors various qualitative and quantitative performance indicators. Monitoring is carried out via the HSEDM system, a management tool for collecting and monitoring environmental data. This activity is coordinated by the central HSE team, which analyzes the data collected and informs other managers of any issues or outliers. This ensures timely corrective action and effective oversight of the Group’s environmental performance. The central HSE team also carefully manages data it has collected in the peripheral units and carries out targeted audits of data and speciﬁc issues. Speciﬁcally, in addition to periodic monitoring of water consumption at both local and central levels, audits of industrial water recirculation systems were carried out in 2025.
Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement 111 Metrics Water used by source - m 3 2025 2024 28. (a) Total water consumption 6,587,710 6,705,486 28. (b) Total water consumption in areas prone to water risk, including high water stress areas 1,440,976 1,723,497 28. (c) Total volume of recycled and reused water 4,200,061 5,163,225 28. (d) Total volume of stored water 0 0 28. (e) Percentage of water volumes obtained from direct measurements, extrapolations, sampling, or best possible estimates 92% 93% Water intensity m 3 /Euro MLN 2025 2024 29. Total water consumption in own operations per Euro MLN of net revenue 335.25 393.84 In most plants, cooling water is recirculated – either fully or partially – to optimize the volume of water withdrawn. The analysis carried out on 92% of production units shows that the majority of facilities (approximately 77%) are equipped with recirculation systems, achieving reuse rates above 90%. 38 Methodologically, the total amount abstracted is deemed equivalent to the total amount consumed, as the water used in production processes is fully accounted for as consumption. Measurements of the volumes of water abstracted at plants are monitored locally and at Group level, recorded in the company-wide Environmental Management System, and disclosed in this Sustainability Statement, in line with ESRS standards. Prysmian assumes that water consumption is equal to the volume of water abstracted 38 . In determining the volume of water abstracted at plants, all variables are measured directly (using a special meter) or indirectly (using a water report). Water consumption is reported by all plants in the common database (HSEDM), with the exception of Warren & Brown and Channell, whose data are provided off-system and estimated. These two companies are expected to be included in HSEDM systems starting in 2026, enabling all water consumption data to be standardized and centralized.
ESRS E4 – BIODIVERSITY AND ECOSYSTEMS
PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 114 E4 – BIODIVERSITY AND ECOSYSTEMS Governance Prysmian considers environmental protection and the sustainable use of natural resources to be key elements in the creation of long-term value. Accurate measurement of environmental impacts represents a competitive advantage for the Group, guaranteeing transparency, continuous improvement and results that go beyond simple compliance. This vision also extends to Prysmian’s commitment to protecting biodiversity, now an acknowledged pillar of the sustainability strategy. While in the past the sector focused above all on decarbonization, today Prysmian views protection of the natural world as equally important for the future resilience of its business. The latest legislation and international frameworks, including the Corporate Sustainability Reporting Directive (CSRD), Taskforce on Nature-related Financial Disclosures (TNFD) and Science-Based Target Network (SBTN), alongside increased customer expectations, require adoption of a proactive approach to managing nature-related risks and opportunities. In 2025, the Group strengthened its biodiversity governance, consolidating a roadmap that aims to make a positive contribution to ecosystem health and the organization’s sustainable growth. Ecosystem and biodiversity governance is fully embedded in the company’s overall governance. Management of this topic is coordinated centrally by the Sustainability team, which draws up guidelines and criteria for assessing the ecological risks linked to the Group’s activities. The Group’s ecosystem and biodiversity strategy is proposed by the Chief Sustainability Ofﬁcer and reviewed by the Sustainability Committee, which has the power to conduct investigations, make recommendations and offer advice on sustainability-related matters. Proposals are approved and continuously monitored by the Board of Directors alongside the Group’s sustainability topics. Implementation of biodiversity and ecosystem plans takes into account contributions from the Group’s key stakeholders, including production sites, the central HSE team, and core suppliers. A detailed description of sustainability governance is provided in “Sustainability governance” in section ESRS 2 – General Disclosures in this report. A description of engagement activities involving stakeholders and local communities in which the Group operates is provided in section S3. Strategy The Group has launched a structured plan to embed ecosystem protection into its operations, with the aim of deﬁning a solid ecosystem protection framework in the areas in which Prysmian operates. The plan integrates compliance with both domestic and international environmental regulations in force in the countries in which the Group is present. As a ﬁrst step, Prysmian conducted a resilience analysis of over 100 of the Group’s production plants, using the WWF’s Biodiversity Risk Filter. The aim was to assess production sites’ main potential impacts and dependencies on nature. The analysis examined various factors, including dependence on ecosystem services, proximity to sensitive habitats and the presence of environmental pressures. The aim was to identify the most exposed or potentially impacted biodiversity sites. The results identiﬁed 18 sites for which the biodiversity-related risk is potentially material. A detailed analysis of the sites was then conducted applying the LEAP (Locate, Evaluate, Assess, and Prepare) approach developed by the Taskforce on Nature-related Financial Disclosures (TNFD). This was done to accurately map interactions between the Group’s activities and natural ecosystems, as well as material dependencies and impacts on them. In addition to those production sites prioritized through the WWF Risk Filter, the analysis was also extended to onshore and offshore installation projects in order to obtain an integrated view of biodiversity- related risks and opportunities throughout the operating cycle.
Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement 115 Several internationally recognized tools and databases were used for the analysis, as recommended in the TNFD guidelines. These included Aqueduct, IBAT, ENCORE and the WWF Risk Filter. These tools assess various criteria, including dependencies on ecosystem services, indicators of water stress and metrics for ecosystem integrity, and the importance of biodiverse areas. The analysis identiﬁed impacts and dependencies in production sites and in the Group’s installation activities. The main impacts and dependencies generally vary among production sites, underground installations, and marine installations. In detail: For production sites, water stress and pollution were the most signiﬁcant metrics in terms of potential impacts and dependencies on ecosystems and biodiversity. The analysis included: a. a resilience analysis of the strategy and business model with respect to physical risks (e.g., water stress, habitat degradation, extreme climate events), transition risks (changes in legislation, environmental permit requirements, customer expectations) and systemic risks linked to the loss of biodiversity and degradation of ecosystems. The assessment was able to identify structural vulnerabilities and areas that required mitigation or adaptation initiatives;
PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 116 b. deﬁnition of the scope of application of the analysis, which covered the Group’s direct operations (production plants, onshore and offshore sites). The analysis took into account both physical and transition risks; c. the main assumptions used, including future legislative scenarios regarding biodiversity, water stress projections and changes in ecosystem integrity, in addition to assumptions regarding the future availability of ecosystem services essential for the Group’s activities; d. the time horizons used, which included short term (up to one year), medium term (2-5 years) and long term (over 5 years) options, in line with TNFD recommendations and the Company’s strategic planning; e. results of the resilience analysis, showing signiﬁcant differences among production sites, underground installations and marine installations. Certain sites were more exposed to physical risks linked to water availability and the quality of the surrounding ecosystems, while installation activities were more exposed to risks linked to habitat sensitivity and local anthropic pressures. The analysis also identiﬁed opportunities for improving the management of natural resources and operational planning; f. stakeholder involvement, including dialogue with local communities, environmental authorities, and non-governmental organizations. This process helped to integrate local perspectives and speciﬁc expertise into the risk assessment and the deﬁnition of mitigation measures. Potential factors that emerged for installation projects include the presence of invasive species, proximity to Key Biodiversity Areas (KBAs), water quality and changes in the use of marine ecosystems. The analysis forms the basis for priority setting for production sites and installations on which to base implementation of site‑speciﬁc Biodiversity Action Plans (BAPs). The aim is to identify potential and actual biodiversity-related 39 Net Gain refers to a situation in which, after accounting for all negative impacts, mitigation measures and improvement actions, the quantity and quality of habitats, species and ecological functions are higher than their initial state. In the context of Prysmian’s sustainability strategy, Net Gain represents the goal of generating a positive outcome for nature through the rigorous application of the mitigation hierarchy (avoid, minimize, restore, offset) and the adoption of transparent, scientiﬁcally grounded and demonstrable assessment methodologies. risks and opportunities for each site or installation, and devise effective measures for mitigating the risks and offsetting the impacts. A detailed description of the BAP-based approach is provided below under “Actions”. In terms of priority installations, Prysmian’s strategy not only envisages management of the related impacts and dependencies, but has set the target of adopting a Net Gain approach to be extended to all priority installations by 2035. For Prysmian, the Net Gain 39 approach means guaranteeing that, once installation activities have been completed, the overall state of the affected ecosystems is better than it was initially. This means not only avoiding, reducing and offsetting negative impacts, but also generating a biodiversity Net Gain through actions such as the restoration of degraded habitats, increasing the ecological quality of affected areas, and the creation of new ecosystem functions or the reinforcement of existing ones. The aim is to ensure that every priority project contributes in a measurable and veriﬁable way to increase local biodiversity, rather than simply offsetting related impacts. In order to achieve this objective, Prysmian will develop a procedure with which all new installations will have to be compliant by 2035. This procedure will deﬁne the activities to be carried out to ensure that each installation achieves Net Gain, including protocols for establishing the biodiversity baseline prior to the project, strategies for reducing and offsetting impacts, an ecosystem restoration plan, and monitoring protocols to be implemented at the end of the project. All of this is intended to ensure that the condition of ecosystems and habitats is improved compared to the initial situation. Material topics related to biodiversity and ecosystems, as identiﬁed by the double materiality assessment at Group level and through the LEAP approach for individual sites and installations primarily emerge upstream of the value chain and in own operations concerning cable-laying vessels. These topics in turn feed into the Group’s strategic planning in relation to biodiversity and ecosystems, guiding
Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement 117 the setting of strategic priorities and short-, medium- and long-term goals. Actions already taken by the Group – such as protection of Posidonia oceanica (Mediterranean seagrass), management of Special Protection Areas (SPAs) and efforts to minimize disturbance to marine mammals – are a direct result of the assessment of material topics. Prysmian’s strategy, which aims to identify material nature- and biodiversity- related topics at each priority site and installation, also involves the deﬁnition of speciﬁc policies and actions that take into account the identiﬁed risks and opportunities. This approach contributes to the resilience and adaptability of the strategy and the business model, allowing Prysmian to proactively respond to emerging challenges linked to ecosystems and biodiversity, and to take advantage of the related opportunities. Finally, in 2026, the Group plans to extend application of the LEAP approach to the supply chain. The aim is to identify biodiversity- and ecosystem-related dependencies, impacts, risks and opportunities in the main activities of the Group’s suppliers. This initiative aims to fully embed the protection of biodiversity and ecosystems into sustainable procurement processes, strengthening the Group’s biodiversity strategy.
PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 118 Identiﬁcation of IROs related to biodiversity Sub-topic Sub-sub-topic Impact Positioning in the value chain Positive/ negative Actual/ potential Time horizon Impacts on the extent and condition of ecosystems Land degradation Desertiﬁcation Change in land use and in water and marine resources Own operations (installation activities) Potential Medium/ Long term Direct impact drivers of biodiversity loss Climate change Biodiversity loss caused by climate change driven partly by the contribution to GHG emissions throughout the value chain Upstream, Own operations (production activities), Downstream Potential Long term Direct impact drivers of biodiversity loss Land-use change, fresh water-use change and sea-use change Biodiversity loss caused by deforestation and soil erosion from copper mining and bauxite extraction in Prysmian's production chain Upstream Potential Medium/ Long term Impacts on the extent and condition of ecosystems Land degradation Desertiﬁcation Land degradation caused by industrial activity in own operations and the supply chain Upstream, Own operations (production activities), Downstream Actual Long term Financial Materiality Not material 2 = Financial materiality threshold Material Not material 2.5 = Impact materiality threshold Material Impact Materiality E4 - Biodiversity and ecosystems Direct impact drivers of biodiversity loss Impacts on the extent and condition of ecosystems Positive impact Negative impact
Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement 119 Sub-topic Sub-sub-topic Opportunity Positioning in the value chain Time horizon Current ﬁnancial effect Direct impact drivers of biodiversity loss Other Greater potential to be awarded new contracts and strengthen Prysmian's offerings thanks to the integration of its biodiversity strategy Own operations Long term N/A Sub-topic Sub-sub-topic Risk Positioning in the value chain Time horizon Current ﬁnancial effect Impacts on the extent and condition of ecosystems Land degradation Damage to biodiversity due to the Group's own operations (e.g., deforestation, waste disposal, displacement of wild fauna, pollution of the air and water), resulting in the loss of threatened species, reduced ecosystem services and disruption to local ecosystems, leading to sanctions and reputational damage Own operations (installation activities) Medium term See the section "Performance of Transmission operating segment", where installation activities that could harm biodiversity are described 40 Removal of seabed sediments through excavation or dredging. This is needed to create or deepen the trench in which the cable is to be laid. It can cause turbidity in the water, the displacement of sediments and disturbance to benthic organisms. 41 A technique using high‑pressure water jets to ﬂuidize sediments and enable the cable to be buried in the seabed. It is less invasive than dredging, but can nevertheless disturb fauna and temporarily alter the structure of the substrata. 42 Excavation of a trench in the seabed (or in onshore land) using plows, chains or mechanical equipment. The cable is then laid in the trench. The process physically changes the habitat and may lead to the removal of vegetation or benthic communities (within marine environments). In 2025, Prysmian continued to assess biodiversity- related impacts, risks, and opportunities in relation to its own operations and in the value chain. One of the most impactful activities is the installation of marine and underground cables. Offshore work on the seabed (e.g., dredging 40 , jetting 41 and trenching 42 ) and onshore work on the land where the cable is being laid can cause major disturbances to ecosystems, with an impact on fauna and biodiversity. This is why measures to protect threatened species and mitigation initiatives in the event of undesirable events form an integral part of project contracts, as required by the relevant authorities. Following the conduct of site assessments, Prysmian has more systematically integrated assessment of the impacts caused directly by its own operations. The Company thus recognizes that, in addition to the upstream risks linked to the procurement of raw materials, the Group’s operating activities – installation, worksites and the movement of materials – can put signiﬁcant pressure on local ecosystems. This awareness led to the reinforcement of environmental management measures during installation, with growing attention paid to preventing disturbance to habitats, land management and the protection of threatened species. Assessment of impacts throughout the Group’s value chain highlights how impacts on biodiversity primarily regard the upstream value chain. This relates to the sourcing of raw materials used in cable production. The potential risks for natural ecosystems relate to copper and bauxite mining, which often cause deforestation and soil erosion due to the technologies and machinery used. In addition, the double materiality assessment also took into account transition risks, such as those related to legislative changes that could potentially expose Prysmian to penalties in the
PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 120 event of non-compliance with certain environmental requirements. The Group is also exposed to acute and chronic physical risks, such as loss of biodiversity related to soil degradation. The assessment also considered systemic risks such as, for example, effects that could potentially lead to the collapse of ecosystems in areas of interest for the business, and the potential ﬁnancial impact that critical biodiversity issues might have on the Group’s operations. At the same time, integration of a biodiversity strategy into the Group’s activities represents an opportunity to strengthen the Group’s competitiveness, improve the quality of offerings and increase the chances of being awarded new contracts. Prysmian is therefore committed to constantly monitoring such aspects and promoting initiatives capable of reducing negative impacts, while at the same time taking advantage of long-term opportunities for sustainable and responsible growth. The biodiversity-related impacts, risks and opportunities identiﬁed by the Group do not speciﬁcally refer to dependencies on critical biodiversity resources. Project Project information and potential impacts NeuConnect (England and Germany) The cable landing site is on the Isle of Grain (UK), a wetland area located near the Thames estuary. The great crested newt has been found in one of the reservoirs bordering the site; potential impacts on the species are: Disturbance of the species Habitat fragmentation Habitat loss Destruction of the population Refuge loss The impacts of Prysmian’s activities may also affect several protected species of bird found in the area, causing: Habitat loss Alteration of species behavior Loss of food resources and suitable nesting sites Bay of Biscay (France and Spain) The construction site in Le Verdon (FR) is located in a wetland area, where the presence of a protected frog has been found; potential impacts to focus on are: Loss of refuge/mating sites Destruction of the population Disturbance of the species Habitat fragmentation Damage to the frogs’ epidermis due to pollution There are several parks at the same location where a protected species of orchid is found. Potential impacts for this species of ﬂora are: Destruction of the population Habitat fragmentation Soil alteration EGL1 and EGL2 (England and Scotland) A wetland is located at the cable landing site for the EGL1 project in England. Potential impacts of Prysmian’s activities on local protected species include: Habitat loss Alteration of species behavior Loss of food resources and suitable nesting sites Soil erosion The landing site for the EGL2 project is located close to a habitat protected under local legislation, consisting of artiﬁcial sand dunes hosting shrub species; the potential impacts are: Habitat destruction Chemical pollution Loss of ecosystem services Harm to plant populations present at the site Alterations in invertebrate populations present in the soil The marine cables for both projects cross protected areas that are home to seals and marine mammals; the potential impacts of the activities on these marine species are: Disturbance of the species Alteration of communication frequencies between conspeciﬁcs
Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement 121 Prysmian acknowledges the importance of preserving marine species in conducting its activities. For this reason, close attention is paid to the conservation of Posidonia oceanica, a seagrass essential to marine biodiversity. The cost of such activities and of mitigation measures connected with these projects is already included in the contracts that Prysmian enters into with customers, and does not give rise to any additional expenditure over and above what is provided for in the contracts. Material IRO management procedures The approach to managing and identifying biodiversity-related impacts, risks and opportunities, described in the Strategy 43 The policies, actions, and targets described in the table have been linked to the IROs identiﬁed in the double materiality assessment, and there is no systematic direct connection between the actions, policies, and targets. section, is part of a broader nature-related risk assessment and management strategy. This is integrated into Enterprise Risk Management, aligning environmental risk management with the company’s short-, medium- and long-term planning. The described approach is in line with the content of the Group’s HSEE Policy, which commits the company to identifying and assessing biodiversity-related risks in all the locations in which it operates, applying a hierarchical approach to mitigation (avoid, minimize, restore and offset). This strategic approach reinforces business resilience, meets investor and customer expectations and contributes to consolidation of the Group’s leadership in the cables sector, promoting sustainable and responsible practices throughout the infrastructure lifecycle. IRO 43 Policy Action Target I – Change in land use, water and marine resources HSEE Policy Biodiversity Action Plan (BAP); General and speciﬁc actions to protect areas exposed to biodiversity risk By 2030, deﬁne procedures for getting to Net Gain in 50% of new installations located in priority areas for biodiversity; By 2035, extend these procedures to 100% of new installations I - Biodiversity loss caused partly by the contribution to greenhouse gas emissions throughout the value chain I - Biodiversity loss caused by deforestation and soil erosion from copper mining and bauxite extraction in Prysmian's production chain I - Land degradation caused by industrial activity in own operations and the supply chain O - Greater potential to be awarded new contracts and strengthen Prysmian's offerings thanks to the integration of its biodiversity strategy Installation projects; Biodiversity Action Plan (BAP); General and speciﬁc actions to protect areas exposed to biodiversity risk R - Damage to biodiversity due to the Group's own operations (e.g., deforestation, waste disposal, displacement of wild fauna, pollution of the air and water), resulting in the loss of threatened species, reduced ecosystem services and disruption to local ecosystems, leading to sanctions and reputational damage Biodiversity Action Plan (BAP); General and speciﬁc actions to protect areas exposed to biodiversity risk
PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 122 Consultation with affected communities In deﬁning biodiversity‑related risks, impacts and opportunities, it is crucial to consult with affected communities on the potential impacts linked to land use for the Group’s operations. Operations sometimes result in changes to land use caused, for example, by activities involved in the laying of underground cables or due to production site needs that involve changes to infrastructure, expansion, revamping or closure. These events may affect local communities. In relation to installation projects, consultations are usually conducted by the Group’s customers when applying for the necessary permits, such as when preparing the Environmental Social Impact Assessment (ESIA). In certain cases, Prysmian’s personnel interface directly with local communities, landowners and ﬁsherfolk in order try and preempt issues and misunderstandings that may arise during installation. Local community representatives have not been directly involved in the double materiality assessment. However, the information and experience gained through this dialogue have been useful in identifying and assessing impacts, risks and opportunities. Details of how Prysmian engages and consults with affected communities are provided in section S3 – Affected communities in this report. Policies Prysmian is committed to identifying and assessing any biodiversity-related risks in all the locations in which the Company operates. The Group applies a hierarchical approach to mitigation (avoid, minimize, restore and offset) across all operations, in line with the Group’s HSEE Policy 44 . Prysmian views biodiversity conservation to be a primary and essential prerequisite for achieving its objectives and creating added value for all the Group’s internal and external stakeholders. 44 https://www.prysmian.com/en/sustainability/environmental-responsibility. The HSEE Policy addresses the issue of biodiversity at a high level, guaranteeing Prysmian’s commitment to monitoring the relevant impacts and risks. The Policy does not, however, speciﬁcally address direct impact drivers of biodiversity loss and does not cover signiﬁcant issues arising during the reporting period. This is because it does not include material impacts on biodiversity, major dependencies on ecosystems, physical or transition risks, or biodiversity-related opportunities identiﬁed by the assessments conducted. In addition, the policy does not speciﬁcally address the traceability of products and raw materials or procurement throughout the Group’s value chain that could have a signiﬁcant impact on biodiversity. Further details of the HSEE Policy are provided in section E1. Actions BIODIVERSITY ACTION PLAN (BAP) The Group has begun to develop Biodiversity Action Plans (BAPs) for priority sites identiﬁed through analysis using the LEAP approach. The aim is to integrate the overall analysis of dependencies and impacts with the deﬁnition of risks and opportunities speciﬁc to each site, translating them into risk mitigation measures and ecosystem regeneration. The ﬁrst project was launched at the Arco Felice factory in Naples. Assigned priority status through the LEAP analysis, the plant was chosen as a pilot site for deﬁnition of a replicable operating model. The plan involves development of a speciﬁc BAP, SCOPE OF ACTION TIME HORIZON Short term Own operations
Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement 123 including the mapping of impacts, dependencies and risks, with the aim of identifying targeted measures designed to reduce environmental pressures and encourage ecological recovery of the area. To deﬁne risks and opportunities, the site study looked at ﬁve main factors responsible for biodiversity loss and ecosystem degradation, as identiﬁed by the Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services (IPBES): changes in land use and water ecosystems, resource use, climate related challenges including pollution and invasive species. To accurately assess impacts, dependencies, risks, and opportunities affecting the full ecosystem, the study was conducted not only within the site, but also in a surrounding buffer zone. This project is currently coming to a conclusion. In general, the study has shown that the site is subject to low ecosystem and biodiversity- related dependencies, impacts and risks, and that it pays overall attention to nature-related issues. The sole potentially material impact identiﬁed regards noise disturbance caused by loading cables on vessels, which could prove signiﬁcant given the proximity of protected marine areas. The study also identiﬁed potential risks associated with the dependency of operations on water and the potential for unexpected spills of pollutants. The likelihood of such risks was, however, judged to be low, even over the long term. Mitigation measures designed to reduce potential impacts on the marine environment were also identiﬁed. These included involving the local, protected marine area in the evaluation of ecosystem restoration projects, in addition to targeted actions to reduce dependency on water and further mitigate what have already proven to be generally low levels of risk. The experience gained will form the basis for progressively extending this approach based on the preparation of BAPs for all production sites and installations assigned priority status through LEAP analysis. This will ensure methodological consistency and integration with the environmental management systems already in use. The cost of preparing BAPs falls within normal site operations. Any costs linked to the implementation of actions mentioned in the BAPs will be addressed on a case-by-case basis. General and speciﬁc actions to protect areas exposed to biodiversity risk In addition to developing site‑speciﬁc BAPs (currently in the pilot stage), the Group is already involved in targeted actions to mitigate impacts on biodiversity and restore ecosystems. Prysmian implements general measures to protect biodiversity during the installation phases. These actions include the following: Main actions Brief description Use of material to support the growth of epibenthic species Prysmian applies best practices to ensure that all material used to protect against erosion and for offshore cable protection is made from natural or engineered stone. This is done to support the growth of epibenthic species by providing three-dimensional complexity in height and in interstitial spaces, where feasible. Prysmian opted to employ bioactive concrete (i.e., containing bio-enhancing admixtures) to strengthen primary erosion protection (e.g., concrete mattresses) and promote biotic growth. In addition, because this type of mattress replicates the local marine environment, marine species use the infrastructure as a habitat, thus resulting in a more environmentally sustainable alternative that offers better protection than traditional concrete mattresses. Special Protection Areas (SPAs) Special Protection Areas (SPAs) for rare or vulnerable species, as well as for all migratory species, are identiﬁed and monitored during project delivery, paying particular attention to the presence of waterways, lakes, swamps and marshes of international signiﬁcance. Where necessary, bird deterrents such as “Hawk Kites” or soundprooﬁng systems (eco-barriers) are used, as well as other types of deterrents such as reﬂective tapes (e.g., the Neuconnect Project in the UK).
PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 124 Here below are additional targeted actions developed for speciﬁc projects, whenever potential risks to the biodiversity of the area involved emerge during the project deﬁnition phase. These interventions are tailored and adapted to the characteristics of the species present and to the needs of the territories, and they are deﬁned in collaboration with Clients already during the contract deﬁnition phase. Project Protected species Site Time horizon Protective actions Expense NeuConnect – UK Great crested newt (Triturus cristatus) Isle of Grain (UK) End 2028 Monitoring using e-DNA analysis of 13 water bodies Habitat classiﬁcation Testing at 9 water bodies Application for a permit for habitat compensation 400,000 Euro Bay of Biscay – France and Spain Early spider- orchid (Ophrys passionis) Seignosse (France) End 2027 Green spaces where the species is present have been fenced off Introduction of information boards Personnel training in how to avoid harming habitats 300,000 Euro Tree frog (Hyla meridionalis) Le Verdon (France) Bi-weekly surveys by an ecologist Relocation of four specimens Installation of natural barriers to protect the area Passerines Le Porge (France) Installation of bird boxes at Le Porge (France) to minimize the active impact Marine mammals Applicable to the entire offshore route (France and Spain) MMOs (Marine Mammal Observers) and PAM (Passive Acoustic Monitoring) used to monitor and halt activities in the event of sightings Preparation of an MMO and PAM protocol approved by local authorities EGL1 and EGL2 – UK Otters, badgers, bats, water voles, birds, reptiles EGL1- cable landing site located at Seaham (England) – Dunbar (Scotland) EGL2 – cable landing site located at Fraisthorpe beach (England) - Peterhead (Scotland) EGL1 – end 2030 EGL2 – end 2029 Conducting ecological surveys Deﬁnition of environmental management plans Preparation of conservation and mitigation documents Monitoring of habitats and ﬂora species 300,000 Euro Marine mammals EGL1- cable landing site located at Seaham (England) – Dunbar (Scotland) EGL2 – cable landing site located at Fraisthorpe beach (England) -Peterhead (Scotland) EGL1 – end 2030 EGL2 – end 2029 Acoustic impact plan Onboard MMOs and PAM Application of Joint Nature Conservation Committee (JNCC) guidelines to minimize the impact on fauna Tyrrhenian Link – Italy Land-based ﬂora and fauna Termini Imerese (Sicily) – Battipaglia (Campania) End 2027 Preparation of documentation and Do No Signiﬁcant Harm (DNSH) assessment to survey ﬂora and fauna along the project’s terrestrial section (Campania and Sicily) 100,000 Euro Marine ﬂora Termini Imerese (Sicily) Protection and relocation of seagrass (Termini Imerese area) 250,000 Euro
Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement 125 The activities shown in the table are ongoing for the duration of the projects, and should be considered as valid for each year included in the indicated time horizon. Furthermore, some projects also include the organization of volunteer days as part of the project’s social value creation activities. These initiatives involve cleaning up beaches close to cable routes in collaboration with the customer and contractors working on the project. Regarding factories, each production site updates an inventory of protected areas and restored areas 45 close to the operating unit. This is based on existing domestic or international classiﬁcations and available information, and includes any requirements related to areas of signiﬁcance for biodiversity and current mitigation measures. In certain very limited cases, offsets and monitoring initiatives have been carried out to meet the requirements of local authorities. At the Poços de Caldas site in Brazil, which hosts a 2,630 m 2 protected area (a permanent preservation area), a plan was launched in 2022 to plant and maintain around 220 native plant species within the Prysmian site. This plan, to be carried out over the 2022-2026 period, is managed with the support of a team of experts and includes periodic reports to the local authority. Environmental management of the site is carried out in accordance with ISO 14000, and environmental assessments show that Prysmian’s operations do not have a signiﬁcant impact on the protected area. Similarly, at Sorocaba, another site in Brazil, the CETESB (the country’s environmental agency), requested offsets in return for use of the permanent preservation area, covering around 10 hectares. Activity to plant approximately 1,200 plants began in 2021 and was completed in 2025. 45 Protected area: area protected from any damage during operations and where the environment remains in its original state with a healthy and functioning ecosystem. Restored area: an area that has been used during or affected by operations and where remediation measures have restored the environment to its original state or to a state where it has a healthy, functioning ecosystem. 46 The prioritization methodology for production sites combines an objective assessment of biodiversity-related risks with strategic evaluations and internal expertise. The process begins with the WWF Biodiversity Risk Filter, which assigns each site a risk score from 1 to 5 based on four categories of operational risk and one reputational category; sites scoring 3 or above are classiﬁed as priority. This initial identiﬁcation, coordinated by the Sustainability and Risk teams, is then complemented by the Business Units’ Top Management, who may include additional sites considered strategically relevant for the Group. Subsequently, the list is reviewed by the HSE team, which may add sites characterized by known or signiﬁcant environmental risks or dependencies. The ﬁnal outcome is a comprehensive list – updated annually – of priority sites for nature and biodiversity, which serves as the foundation for deﬁning and implementing Biodiversity Action Plans (BAPs). Offsets at the Poços de Caldas and Sorocaba sites aim to maintain and restore ecological functions in the respective protected areas. This is done by planting native species and monitoring their development over time. Key indicators take into account plant survival, the quality of plant restoration, and consistency with original habitats. The associated costs primarily relate to planning initiatives, purchasing and handling plant species, technical monitoring and reports required by authorities but not for publication, as they are classiﬁed as conﬁdential. The offsets regard permanent preservation areas located at the two sites, with actions based on criteria related to ecological quality, the use of native species, and compliance with Brazilian environmental regulations and applicable environmental management standards. Targets & Metrics With the exception of its Transmission business, the ﬁrst area the company focused on, Prysmian is still in the process of assessing the Group’s impacts and dependencies. As a result, the following targets do not refer to speciﬁc metrics, which will be deﬁned on completion of the assessment. Instead, the targets regard the Group’s degree of coverage with respect to an initial analysis. This phase will also include gathering stakeholder views, including those of local communities. In 2025, Prysmian took a major step toward reinforcing the company’s commitment to protecting natural capital. For the ﬁrst time, the company set the goal of achieving a Biodiversity Net Gain in its priority areas, moving beyond simply mitigating negative impacts. Priority areas 46 are areas where biodiversity-related impacts and dependencies are most material. Prioritization is an internal process based on the WWF Biodiversity Risk Filter, as well as an assessment conducted by the relevant internal teams based on the strategic nature of the site and HSE management.
PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 126 The Group’s goal is to deﬁne procedures for achieving Net Gain in 50% of new installation projects by 2030, and extend these procedures to 100% of new installations located in priority areas for biodiversity by 2035. These procedures will include: methods for calculating the baseline for biodiversity; assessment of the direct and indirect impacts of Prysmian’s activities; deﬁnition of improvement initiatives; monitoring actions needed to measure the achievement of Net Gain. With regard to production sites, Prysmian aims to identify and assess biodiversity related risks and any dependencies on ecosystems, with the goal of minimizing impacts on biodiversity and 47 The target is calculated as the number of new installations in priority areas for which a Net Gain procedure has been adopted, divided by the total number of new installations in priority areas. The target and its scope are updated annually, based on newly launched projects and the procedures implemented. Installation projects already underway as of 2025 are excluded from the target, as it is not possible to develop a procedure to achieve Net Gain for them. 48 The target is calculated as the number of sites in priority areas for which a BAP has been developed, divided by the total number of sites in priority areas. The scope is updated annually, based on the BAPs developed. Sites located in non priority areas, as deﬁned by the prioritization procedure, are excluded. 49 The ﬁgure reﬂects the cumulative kilometers installed within protected areas. managing natural resources responsibly. To this end, the Group has committed to implementing a Biodiversity Action Plan (BAP) by 2030 in 100% of production sites located in priority areas, meaning those areas associated with material biodiversity risks. In terms of the supply chain, the Group has yet to set speciﬁc nature‑ and biodiversity-related targets, but is committed to: conducting an assessment of the supply chain to identify any hotspots for biodiversity- related impacts; developing supplier engagement strategies to minimize these impacts; continuing with innovation and circularity initiatives designed to reduce dependency on raw materials from biodiversity hotspots. Result 2025 Target 2030 Target 2035 % of new installations located in priority areas adopting a Net Gain approach to biodiversity 47 0% 50% 100% % of production sites located in priority areas where Biodiversity Action Plans (BAPs) have been prepared 48 5% 100% – Impact metrics related to biodiversity and ecosystem changes Description Value 35. If the undertaking identiﬁed sites located in or near biodiversity-sensitive areas that it is potentially negatively affecting, the undertaking shall disclose: 35. the number of sites owned, leased or managed in or near these areas see below 31 production sites 35. the area (in hectares) of the sites owned, leased or managed in or near these areas see below 97.94 hectares 35. number of installations located or managed within the aforementioned areas see below 9 installations 35. the area of the installations located or managed within the aforementioned areas see below 219.60 km 49 The number of production sites indicated has been established through a desk analysis, using the WWF Biodiversity Risk Filter. The analysis considered only those Prysmian sites that received a “High” or “Very High” score for indicators 6.1 Protected/Conserved Areas and 6.2 Key Biodiversity Areas. Since any potential overlap between production sites and sensitive areas is assessed probabilistically – the tool adopts a clusterbased territorial approach rather than the actual geometry of each site – the potentially affected area was weighted by applying the maximum percentage of the sensitive area present within the relevant cluster: 30% for “High” scores and 100% for “Very High” scores.
Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement 127 Based on the probabilistic analysis carried out, the identiﬁed sites are mainly located in Europe and Latin America. Following this preliminary assessment, a direct engagement process will be initiated with the sites concerned, to verify their actual proximity to sensitive areas and conﬁrm or update the classiﬁcation. The analysis identiﬁed, in addition to the production plants, 9 installations located or operated within the sensitive areas described above. Overall, the cables present in these contexts extend for approximately 219.60 km. The identiﬁcation of these installations was carried out through deskbased analysis conducted by the Transmission Business Unit. The projects concerned, both offshore and onshore, are located within protected marine areas, coastal habitats, and safeguarded natural environments. Speciﬁcally: Projects in marine and offshore contexts Saudi–Egypt, an interconnection in the Red Sea, located in a high biodiversity area characterized by coral reefs and sensitive habitats. Lightning, an offshore project developed in an area characterized by sensitive marine ecosystems. Tenerife – La Gomera (Canary Islands, Spain), located near marine protected areas and sites of community interest. Ceuta Peninsula, in a strategic area for marine biodiversity and migratory routes in the Strait of Gibraltar. BorWin4 and DolWin4 (BD4), an offshore project in the North Sea within the protected marine area of the Wadden Sea. Projects in coastal areas Noirmoutier (France), involving works in coastal areas and the seabed subject to environmental protection. Cyclades IV (Aegean Sea, Greece), located near valuable marine habitats and coastal areas under landscape protection. Onshore projects in sensitive natural areas German Corridors (SuedLink, SuedOstLink), terrestrial infrastructures crossing areas characterized by natural habitats and protected zones in Germany.
ESRS E5 – RESOURCE USE AND CIRCULAR ECONOMY
PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 130 E5 – RESOURCE USE AND CIRCULAR ECONOMY Governance In 2025, Prysmian consolidated a structured approach to governing the efﬁcient use of resources and the circular economy, integrating it into the Company’s decision-making processes and the Group’s sustainability strategy. Resource use is overseen by the Strategy and Sustainability teams, which deﬁne and support the implementation of priorities, goals and Key Performance Indicators (KPIs) designed to reduce consumption of virgin raw materials and optimize production processes and waste management. Operational governance is backed by local teams who work with central teams, including Sustainability, R&D, and Procurement, on the implementation of circularity projects in the Group’s main plants. Prysmian uses monitoring tools and integrated reporting to ensure the traceability of materials and is always on the lookout for improvement opportunities throughout product life cycles. Waste management is another major environmental aspect for the Group. Operational control of waste management is conducted bearing in mind the need: to assess waste-related aspects and impacts with respect to the processes/projects that produce it, the related quantities and hazardous nature, pursuant to the applicable legislation and/or rules drawn up centrally; to manage waste safely, under all operational conditions, both normal and emergency, in line with the applicable requirements and with the aim of minimizing the environmental impact throughout the value chain; to respect criteria established at Group level for collection, conﬁrmation, validation, aggregation and internal and external reporting of waste-related data. The Company also takes part in industry initiatives and collaborations designed to promote regenerative business models, in line with European goals for the transition to a climate-neutral and circular economy. Strategy Prysmian’s efﬁcient resource use and circular economy strategy is designed to reduce environmental impact throughout the product life cycle, while at the same time promoting regenerative production models and reducing resource consumption. In 2025, the Group accelerated implementation of circular practices via targeted initiatives that aim to reduce the use of virgin raw materials, recover and reuse materials, and design for durability and recyclability. The strategy revolves around an integrated approach involving research and development, the supply chain, and production. The aim is to improve process efﬁciency and circularity in the use of materials – particularly copper, aluminum, plastic, and cable components – in order to minimize scrap materials and to recycle downstream waste. Prysmian’s commitment is implemented through the use of certiﬁed recycled products and sustainable packaging, as well as through collaboration with strategic partners to develop innovative circular economy solutions. The strategy is fully aligned with the European Green Deal and with international circular economy principles, helping the Group meet its climate and environmental targets and those of its stakeholders.
Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement 131 Identiﬁcation of IROs related to the circular economy Sub-topic Impact Positioning in the value chain Positive/ negative Actual/ potential Time horizon Resource inﬂows, including resource use Consumption of non-renewable resources in production that causes damage to the environment and reduces availability for other uses Own operations (production activities) Actual Long term Waste Pollution due to improper management of waste during own operations Own operations (production activities) Potential Long term Resource outﬂows related to products and services Reduced emissions due to development of products with recycled content Own operations (production activities), Downstream Actual Medium term Resource outﬂows related to products and services End-of-life recycling of cables Own operations (production activities), Downstream Actual Medium term Waste Pollution due to improper management of waste at the end of product life cycles Downstream Potential Long term Waste Pollution due to improper management of upstream waste Upstream Potential Long term Sub-topic Opportunity Positioning in the value chain Time horizon Current ﬁnancial effect Resource inﬂows, including resource use Increase in green products containing recycled materials to boost the Group's proﬁtability Own operations, Downstream Medium term See the section "Group performance and results" in the Report on Operations regarding the use of recycled copper Sub-topic Risk Positioning in the value chain Time horizon Current ﬁnancial effect Resource inﬂows, including resource use Resource outﬂows related to products and services Non-compliance with environmental laws related to waste, resulting in potential costs deriving from litigation and legal disputes, payment of ﬁnes/sanctions, clean-up costs and/or reputational damage Own operations Medium term N/A Positive impact Negative impact Financial Materiality Not material 2 = Financial materiality threshold Material Not material 2.5 = Impact materiality threshold Material Impact Materiality E5 - Circular economy Resources inﬂows, including resource use Resource outﬂows related to products and services E5 - Circular economy Waste
PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 132 The double materiality assessment highlighted a strategic opportunity: offering green products with recycled content as a way of boosting the Group’s proﬁtability. The integration of recycled materials in production processes leads to reduced dependence on virgin resources, optimizing costs and improving value chain efﬁciency. At the same time, this strategy meets growing market demand for sustainable solutions, strengthening the Group’s competitiveness and its ability to create long- 50 The policies, actions, and targets described in the table have been linked to the IROs identiﬁed in the double materiality assessment, and there is no systematic direct connection between the actions, policies, and targets. term value. In this context, sustainability is not just a question of environmental responsibility, but a real driver of innovation and economic growth. Speciﬁc details of the methodology used in the double materiality assessment are provided in section ESRS 2. The assessment process was also enhanced with the involvement of academic experts, who provided important input on developments regarding the circular economy and its direct and indirect impacts. Material IRO management procedures IRO 50 Policy Action Target I - Consumption of non-renewable resources in production that causes damage to the environment and reduces availability for other uses HSEE Policy Use of bioplastics Recycled content in copper and polyethylene jackets Increase in the share of recycled content in PE jackets and copper I - Pollution due to improper management of waste during in- house operations HSEE Policy Zero Landﬁll waste management DTC – Design To Cost I - Reduced emissions due to development of products with recycled content HSEE Policy Recycled content in copper and polyethylene jackets Programs promoting the circular economy Increased share of recycled content in PE jackets and copper Increase in share of Sustainability-linked revenues I - End-of-life recycling of cables HSEE Policy Programs promoting the circular economy Expanded use of P-laser technology I - Pollution due to improper management of upstream waste Programs promoting the circular economy DTC – Design To Cost Increased number of sustainability audits in the supply chain (for details, see ESRS S2) I - Pollution due to improper management of waste at the end of product life cycles Programs promoting the circular economy Reuse of reels Expanded use of P-laser technology DTC – Design To Cost O - Increase in green products containing recycled materials to boost the Group's proﬁtability Quality Policy Recycled content in copper and polyethylene jackets Use of bioplastics Increased share of recycled content in PE jackets and copper Increased share of sustainability-linked revenues R - Non-compliance with environmental laws related to waste, resulting in potential costs deriving from litigation and legal disputes, payment of ﬁnes/ sanctions, clean-up costs and/or reputational damage HSEE Policy Waste management
Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement 133 Policies To date, Prysmian has not yet adopted a speciﬁc public policy for resource use and the circular economy. This is due to rapid changes in the related legislation that result in speciﬁc new obligations. The Company has, however, developed internal programs to promote the kind of culture and environment necessary to address issues related to resource use and the circular economy, and to prepare for the deﬁnition of appropriate KPIs for monitoring purposes. Concerning waste management from direct operations, Prysmian applies the HSEE Policy (details on the policy are provided in section ESRS E1). An overview of the various aspects connected with the sustainability of materials purchased can be found in the document, “Supply Chain and Vendor Management”, described in section ESRS S2. Issues related to product quality are covered in the Quality Policy, described in detail in section ESRS S4. Actions PROGRAMS PROMOTING THE CIRCULAR ECONOMY SCOPE OF ACTION TIME HORIZON Recurring activities, in progress Own operations 51 More information on E Path criteria is provided on the Company’s website at https://www.prysmian.com/en/sustainability/e- path and in the section “Methodological note” in this document. 52 More information on products that enable the energy transition is provided in the section “Methodological note” in this document, which explains that the term “products that enable the transition” differs from the deﬁnition used in Regulation 852/2020. 53 More information on sustainable products is provided in the section “Methodological note” in this document, which explains that the term “sustainable products” differs from the deﬁnition used in Regulation 852/2020. 54 More information on sustainable solutions is provided in the section “Methodological note” in this document, which explains that the term in question differs from the deﬁnition used in Regulation 852/2020. Prysmian has established a number of initiatives to promote the circular economy. Of these, two stand out for the way they integrate sustainability into product innovation and commercialization processes: The Design for Sustainability (D4S) program was launched in 2022 and aims to change the way Prysmian’s entire R&D community and network operate. New product development focuses on each product’s strategic importance in terms of sustainability, applying the E Path criteria 51 that underpins the D4S program. Periodic reports on the D4S program have been published since 2022. These bring together all the sustainability initiatives underway in each region, organizing them according to speciﬁc technical workstream and E Path criteria. The number of sustainability initiatives in progress in the various countries rose by around 6% in 2025 compared with 2024. The increase regarded reduction/elimination of the use of substances of concern, several initiatives linked to products 52 that enable the energy transition, and efforts to reduce power cable transmission losses. The Sustainability for Business (S4B) program launched in the second half of 2023. It was designed to promote the commercialization of sustainable products 53 internally. The goal is to accelerate growth of the E Path brand and assist the Sales team in dealing with key customers. A speciﬁc report on the S4B program was launched in 2024 to monitor the progress made by each sustainability workstream using speciﬁc metrics. Monitoring of these streams continued in 2025. Prysmian also launched the ESG data platform, which was developed at the end of 2024 in order to enable the market launch of sustainable solutions 54 . This is the only platform available on the market that includes – amongst other functionalities – an automated tool capable of generating certiﬁed EPDs on a large scale in a very short time.
PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 134 DTC – DESIGN TO COST SCOPE OF ACTION TIME HORIZON Recurring activities, in progress Own operations Prysmian’s Design-To-Cost (DTC) program is a concrete example of team play. The objective is to boost productivity and cut the consumption of materials, thereby reducing the environmental impact of products. Thanks to better materials, efﬁcient processes and innovative projects, the DTC offers numerous advantages in terms of environmental sustainability. This regards above all the use of non-renewable resources and waste management. Regarding the ﬁrst point, the program aims to reduce the use of non- renewable resources in production processes, minimizing environmental damage and conserving these resources for other uses. Regarding waste management, Prysmian is committed to improving and optimizing resource use, contributing to a more sustainable and responsible form of production. Prysmian monitors the progress made and effectiveness of the DTC program using a DTC webtool. Monthly meetings are held by each region/business unit, and their output is included in the goal-setting process in the annual management plan. The program resulted in savings of over €50 million in 2025, with more than 1,400 projects completed, in line with results achieved in the last two years. Projects launched under the DTC program do not involve the use of dedicated ﬁnancial resources.
Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement 135 INCREASED PURCHASES OF COPPER AND POLYETHYLENE JACKETS WITH RECYCLED CONTENT AND LOW-CARBON ALUMINUM SCOPE OF ACTION TIME HORIZON Recurring activities (from 2023), in progress Own operations and upstream operations in the value chain Prysmian is committed to making the procurement of renewable and recyclable resources more sustainable and is already using r-PE (recycled polyethylene) and r-Cu (recycled copper) in several regions. The Group is also working to increase the proportion of aluminum purchased from suppliers that use renewable energy in processing the mineral and in producing rods for Prysmian’s plants. This results in a ﬁnished product with a signiﬁcantly reduced carbon footprint compared with aluminum produced using traditional energy sources, such as fossil fuels. This is especially important given that aluminum production is one of the most energy‑intensive industrial activities. In deﬁning “low-carbon aluminum”, Prysmian uses industry standard CO₂ emission values per ton. a. Regular trials and tests in all the Group’s main plants to increase the percentage of recycled PE To achieve the targets for the volume of recycled materials, each regional R&D team, in coordination with the regional and central procurement teams, establishes relationships with suppliers (at local or Group level) to evaluate the availability of recycled materials technically compatible with the related applications. 55 Regular suppliers of primary copper are those from which Prysmian purchases over 99% of all the primary copper (rods and cathodes). CapEx of approximately €3 million was approved and launched in 2024. This will fund the use of a greater share of recycled PE in jackets for LV and MV cables. The investment covers 13 factories in Europe and Turkey, and involves installing the necessary mixing equipment, upgrading extruders and purchasing quality control equipment. The approved investment plan, covering 2024 and 2025, is consistent with the targets set by the Group for the percentage of recycled PE to be achieved by 2025. Therefore, no further CapEx is currently planned for this activity. b. Regular procurement and assurance of copper supplies with a growing share of r-CU to expand the supplier base and the range of addressable products When determining copper requirements at plant level, offers from suppliers that have an increased share of copper with recycled content are assessed and qualiﬁed in advance. All the Group’s regions are involved, each contributing differently based on supplier availability and applicability to cable production. The value chain actors primarily involved are: Copper suppliers: this involves scouting and sourcing regular suppliers 55 that offer options containing recycled copper, targeting their involvement as part of a shared long-term strategy and commitment; R&D and production: this involves assessing and validating materials with recycled content to optimize usage, considering limits on availability and production constraints; Logistics; Customers: during the preliminary phase of a tender process, certain customers score suppliers based on different, non‑ﬁnancial drivers (e.g., logistics performance, services, ESG, etc.). Certain customers also assess performance in terms of circularity, linked to the presence of products with recycled content.
PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 136 As Prysmian is primarily a purchaser of copper rods, the achievement of recycled copper targets is only possible through the involvement of producers and suppliers. This means including this requirement in the speciﬁcations for materials purchased, and agreeing on improvement plans that are compatible with the required technical characteristics, as well as with availability and technical constraints. USE OF BIOPLASTICS SCOPE OF ACTION TIME HORIZON Recurring activities, in progress Own operations Another promising stream can be found in plastics made from organic raw materials (bio- based or bio‑attributed, i.e., certiﬁed through a mass balance scheme). Prysmian pioneered the use of bio-based polyethylene in its Afumex Green product range. This range has been manufactured in Brazil for more than a decade and has been extended to other product ranges in Latin America and other regions. Bio- attributed materials are now available for almost the entire range of plastic materials used by Prysmian and supplied by major incumbent manufacturers. Although the price of these materials is still not competitive due to the scarcity of renewable raw material sources, Prysmian has developed several applications, driven by market demand. These bioplastics show very promising CFP (carbon footprint) values, well below those of traditional plastics from fossil sources. In certain cases, these materials derived from plant sources even achieve negative values (–1.5 kg CO₂ per kg of material, compared with around 2–2.5 kg CO₂ per kg for conventional plastics). EXPANDED USE OF P-LASER TECHNOLOGY SCOPE OF ACTION TIME HORIZON Recurring activities, in progress Own operations P-Laser cables, made using proprietary technology, offer added value in terms of sustainability for end customers (i.e., utilities) as they are fully recyclable at the end of their life. This technology is currently applied to MV cables in the power distribution market and to HVDC systems in the transmission segment. Here below, a look at the main activities in own operations carried out in 2025: 1. industrialization and the start-up of production of MV cables in Scandinavia, exploiting the increase in installed capacity at the Swedish factory; 2. a pilot project involving installation of an MV cable using P-Laser insulation, conducted in cooperation with a major DSO (Distribution System Operator) operating in Germany and east-central Europe; 3. the ﬁrst phase of testing the use in water of prototype cables with an easily removable external semiconductive layer for the North American market, with further tests in progress; 4. development and industrialization of high- performance insulating materials (HVDC) for a service temperature of 90°C and industrialization of insulation for conductors with larger cross-sections (3,000 mm2 Cu and 4,000 mm2 Al). With regard to VCV lines, Prysmian is also exploring the feasibility of applying P-Laser technology to submarine cables, and considering construction of a compounding plant that can produce insulating materials for this type of product;
Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement 137 5. successfully completed the development of a new product in the LV segment (power distribution and construction). The product is based on similar cable designs for this product class, and is scheduled for launch in early 2026, primarily in northern Europe (Norway, Sweden, Denmark, Finland). The downstream value chain is affected by the higher sustainability value of P-Laser cables compared to standard (XLPE/EPR insulated) cables. Prysmian estimates that the use of P-Laser technology for MV and HV products reduces the carbon footprint by about 34% over the life cycle, mainly due to 100% recyclability at End-of-Life (EoL), excluding the use phase, which remains unchanged. The main stakeholders involved are end-users, particularly DSOs and TSOs. The use of P-Laser technology thus increases EoL recyclability, providing a path for the development of a circular stream in the cable industry (yet to be quantiﬁed). The project for implementing and deploying the new P-Laser line for insulating MV cables in Scandinavia involves investment of approximately €1.6 million over three years (2023-2025). The planned increase in sales of MV P-laser lines in European markets is backed by investment in east-central Europe. This will result in the installation of a new MV cable insulation line that can produce insulated cables using XLPE or P‑Laser, as needed. The total cost of the project is approximately €23 million over three years (2024-2026). The planned increase in P-Laser production capacity for HVAC and HVDC transmission systems will see an expansion of installed capacity in France via the deployment of three new lines. The plan, which began in 2022 and is scheduled to end in 2027, involves total investments of approximately €180 million. To support this expansion of production capacity, Prysmian has initiated construction of a compounding plant for P-lasers for HV and submarine cables in southern Europe. This is part of the Company’s efforts to centralize and continuously improve its technology offering. The project will be completed in 2028 and cost approximately €20 million. REUSE OF REELS SCOPE OF ACTION TIME HORIZON Recurring activities, in progress Own operations To reduce the quantity of virgin material employed in packaging and the volume of waste produced, Prysmian has increased its focus on the reuse of cable reels. Globally, in 2025, Prysmian reused 53% (in terms of tons of material) of cable shipping reels, including 73.9% of wood reels and 26.1% made from metal, plastic, and other materials. In keeping with previous years, this goal is pursued in two ways: 1. Raising awareness and collaborating with customers on reverse logistics: Prysmian is talking to customers about both increasing the number of cycles for reused reels and creating new streams for the return of reels that have only been used once. 2. Standardizing reel speciﬁcations: A reel’s physical characteristics depend on several factors, including local regulations, the type of cable transported, and the production equipment used, as well as site and transportation requirements. Global standardization of these speciﬁcations is not possible at this time. However, within these constraints, it is still possible to standardize many aspects on a more limited basis, making reels more frequently reusable and, as a result, increasing circularity. Initiatives primarily regard the downstream value chain across all Prysmian’s operations. The time horizon needed to achieve tangible results on a large scale is medium- to long-term. The Company aims to improve on or at least maintain the current percentage of reels reused. The Group’s investment in this area has not involved signiﬁcant expenditure, nor is any major expenditure expected in the coming years.
PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 138 The Group uses several digital tools in its pursuit of greater circularity. One of these is Alesea™, a start-up that has created a smart device and cloud platform that provides virtual assistance for the location, use and recording of cable reels. Adoption of this solution ensures that reels can be returned more efﬁciently, helping reduce the Group’s carbon footprint. It has also contributed to Prysmian’s transformation into a supplier of sustainability solutions for customers. In 2025, the Group estimates that around 5% of turnover from Prysmian’s cable sales was transported on smart reels using Alesea™’s integrated solution. Extension of the Alesea™ system to the stock of reels, which happens primarily in Europe and the United States, is bringing additional results: data for reverse logistic streams show a continuous improvement, increasing the percentage of reels reused, reducing the need to purchase new reels and simplifying the management of logistics. This solution also provides signiﬁcant cuts in cable waste at worksites thanks to remote monitoring of any remaining stock and its reuse. ZERO LANDFILL WASTE MANAGEMENT At factory level, Prysmian has launched speciﬁc plans to improve waste management and cut the environmental impact of disposal. Each production unit has drawn up a targeted action plan, involving both organizational and operational initiatives. This involved assigning clear responsibilities, timescales and measurable targets, in line with the "Zero Landﬁll" goal. Activities include the involvement and training of operational personnel to improve waste segregation at source and work with the Procurement team on a more rigorous approach to rating suppliers of environmental services, based on performance and compliance criteria. By adopting and periodically monitoring speciﬁc performance indicators, the various units have gradually introduced increasingly objective means of assessing environmental performance into management systems. In Latin America, all operating units take part in the Zero Landﬁll program, which has made signiﬁcant progress in the last three years. Approximately one third of all sites have achieved the target (0-5% of total waste produced is disposed of in landﬁll). An additional third is in an advanced stage and has registered a sharp reduction in waste sent to landﬁll (6–20% of total waste produced). The Heredia plant in Costa Rica deserves special mention. It achieved the zero‑landﬁll target in 2024 and became a Zero Waste Afﬁliate in 2025, adopting the Zero Waste Management System (ZWMS) standard. This is an international standard that involves implementing a system for improving the integrated management of materials and waste. In December 2025, Heredia’s Zero Waste Management System was audited by Zero Waste, an external, independent body, achieving Gold-level status. Another plant that has distinguished itself in terms of commitment to the environment is Bogotá, in Colombia, which in 2025 sent less than 2% of waste produced to landﬁll and that aims to achieve Zero Waste by 2026. SCOPE OF ACTION TIME HORIZON Recurring activities, in progress Own operations
Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement 139 0% 17% 69% LANDFILL ENERGY FROM WASTE RECYLE REUSE REDUCE 14% 0% 0% WORST USE BEST USE PREVENTION ZERO WASTE PRYSMIAN COSTA RICA 56 The KPI value of 44.2% is calculated on the Prysmian perimeter excluding Channell; when Channell is included in the reporting perimeter, the value amounts to 43.7%. In coming years, the Costa Rican and Colombian operating units will pursue further improvements and set a benchmark at both regional and Group level. In coordination with the regional HSE team, the experience gained, and the best practices developed by Heredia and Bogotá will be progressively extended to other sites in Latin America. The aim is to boost the adoption of circular models at regional level and contribute to the transition to a more sustainable and responsible approach to managing materials and waste. The Group’s investment in implementation of the project in 2025 did not entail signiﬁcant expenditure. No major expenditures are expected in the coming years. Targets Targets for resource use and the circular economy are as follows: ENTITY-SPECIFIC KPI 2022 baseline 2025 results 2025 target 2028 target Share of recycled content in PE jackets and copper 10% 21.3% 13.4%-15.7% – Sustainability-linked revenues 30% 44.2% 56 40% 55%
PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 140 Share of recycled content in PE jackets and copper In 2025, the share of recycled content in PE jackets and copper was 21.3%, exceeding the target set. This was inﬂuenced by the growth in Prysmian’s copper volumes in the United States following acquisition of Encore in 2024. This in part reﬂects the fact that the 2025 copper tariffs led to a surplus of copper scrap in the US domestic market, beneﬁtting the mix of primary and recycled copper. The KPI is included in Prysmian’s Impact Scorecard 2023-2025 and is linked to the Long- Term Incentive Plan 2023‑2025. As deﬁned in the Scorecard, submitted for approval to the board by Prysmian’s Sustainability Committee, targets are set by the relevant corporate functions and cascaded down to regional team representatives. The target is to increase the use of such materials in circular design, above all in terms of end-of- life recyclability of ﬁnished products. Progress is reported internally in a quarterly report that enables periodic monitoring of the KPI. Regarding r-PE, the annual and three-year targets are based on the benchmark created in east-central Europe, which represents best practice in the use of recycled polyethylene for jackets. Given the feasibility demonstrated in this region and the results achieved, Prysmian decided to apply the same approach to the rest of Europe. Targets for extra-European regions are inﬂuenced by local situations and based on the availability of technologies and materials. Further details of the methodology and assumptions used are provided in the internal operating procedure, which deﬁnes the scope of r-PE 57 , the teams responsible for developing the project, and the related monitoring (R&D and Procurement). Results are discussed individually with the Chief Engineers. As required by law, the recycled material is purchased from external suppliers, except where production scrap is reused internally. 57 From the scope of polyethylene used for low- and medium-voltage sheaths, an estimated 20% share is excluded, as it is not eligible for inclusion in the KPI numerator. The reason for this non‑eligibility is that the technical speciﬁcations issued by certain customers require the use of virgin material. 58 More information on sustainability-linked revenues products is provided in the section “Methodological note” in this document, which explains that the term “sustainability‑linked” differs from the deﬁnition used in Regulation 852/2020. A similar approach was also used for recycled copper, but with speciﬁc reference to suppliers already able to provide signiﬁcant amounts of recycled copper wire rod. As required by law, recycled copper is again purchased from external suppliers, except where production scrap is reused internally. Further details of the methodology and assumptions used are provided in the internal operating procedure, which deﬁnes the scope of r-Cu. The procedure aims to ensure accurate monitoring of the recycled content indicator for recurring suppliers of copper rods and cathodes. The purpose is to ensure rigorous analysis of the data collected and establish the teams responsible for the related monitoring (Procurement). The targets are discussed and set by Operations and Procurement, which are responsible for copper purchasing, and senior management. They are then communicated to regional procurement teams, who then engage as effectively as possible with both locally and centrally managed suppliers in order to ensure that targets are met. Sustainability-linked revenues The Scorecard includes a target for sustainability- linked revenues 58 , in agreement with Prysmian’s senior management. This target further underlines the strong link between Innovation and Sustainability as closely connected drivers of value creation for both the Company and the external environment. The strategic importance of this KPI was further highlighted during the Capital Markets Day held in March 2025, when the Group announced that it was targeting a 55% share for sustainability-linked revenues by 2028. Sustainability‑linked solutions are deﬁned and identiﬁed as follows: cables classiﬁed as E Path; systems that have a signiﬁcant positive impact in terms of emissions during production, installation and use, compared with products representing best market practice;
Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement 141 systems that have a signiﬁcant positive impact in terms of reducing emissions on the power grid. Sustainability-linked solutions currently include the following lines: products classiﬁed as E Path; E3X lines; advanced overhead lines; Sirocco HD; Sirocco TLC; the Transmission segment (excluding the SURF business unit); rods and strips produced using low-carbon footprint aluminum. The above sustainability-linked categories could be expanded to include new product lines that meet the related requirements. The eligibility of a new product line for sustainability-linked classiﬁcation is always subject to approval by Prysmian’s Sustainability Committee. The ultimate aim of this target is to intensify and standardize the production of sustainable materials in the value chain, both in terms of carbon footprint reduction and the use of recycled or secondary materials. This will result in improved performance, quality, availability, and affordability. The materials in question are: recycled copper-based materials, which positively impact the E Path rating; recycled polyethylene-based materials, which positively impact the E Path rating; recycled steel-based materials, which impact the classiﬁcation of advanced overhead lines; materials with a low carbon footprint, which positively impact the E Path rating; 59 The KPI ﬁgure of 44.2% is calculated excluding Channell; including this entity in the scope the ﬁgure is 43.7%. low-carbon footprint aluminum, which impact the classiﬁcation of the rods and strips product line. The baseline for the KPI is 2022, when the share of sustainability-linked revenues stood at 30%. In 2024, the KPI reached 43.1%. At the end of 2025, the KPI rose to 44.2% 59 , beating the initial target of 40%. This result was driven primarily by sales growth in the Transmission segment, with the segment’s share of total Group sales rising from 13.4% in 2024 to 15.7% in 2025. The scope of consolidation used to measure the 2025 KPI (the denominator) does not include the contribution from the Channell Group. Further details on the method used to include the contribution from the Encore Wire plant in the KPI are provided in the section “Methodological note” in this document. Scorecard targets, including the one in question, are regularly monitored by the Strategy, Investor Relations and Sustainability teams and reported annually to the Sustainability Committee. Members of the above Committee, together with other senior management within the Group, are involved in the process of setting targets for Prysmian’s Sustainability Impact Scorecard. Their knowledge of the business, the Group’s ambitions and the improvement areas to focus on are key to establishing the KPIs the Company has focused on in recent years and for which it is pursuing the targets set. Finally, it should be noted that the target in question is optional and not required by law. To date, there has been no revision of the targets or of the method for measuring the KPI with respect to the established time horizon.
PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 142 Metrics Resource outﬂows (E5-5c) - kg 2025 2024 Diverted from disposal 37. (b) Total 148,785,040 171,490,574 37. (b) Hazardous waste 6,925,912 7,283,844 37. (b) i. Preparation for reuse – – 37. (b) ii. Recycling 6,925,912 7,283,844 37. (b) iii. Other recovery operations – – 37. (b) Non-hazardous waste 141,859,128 164,206,730 37. (b) i. Preparation for reuse – – 37. (b) ii. Recycling 141,859,128 164,206,703 37. (b) iii. Other recovery operations – 27 Directed to disposal 37. (c) Total 114,191,637 69,863,077 37. (c) Hazardous waste 8,429,329 6,889,484 37. (c) i. Incineration 2,689,462 3,141,623 37. (c) ii. Landﬁll 3,299,698 1,433,621 37. (c) iii. Other recovery operations 2,440,169 2,314,240 37. (c) Non-hazardous waste 105,762,308 62,967,007 37. (c) i. Incineration 16,624,239 13,252,419 37. (c) ii. Landﬁll 83,377,307 43,969,659 37. (c) iii. Other recovery operations 5,760,762 5,744,929 37. (d) Non-recycled waste 114,191,637 69,848,417 37. (d) Percentage of non-recycled waste 43,42% 28,94% 37. (a) Total waste 262,976,677 241,347,065 Resource outﬂows (38., 39., RA 28., 40.) - (kg) 2025 2024 39. Total amount of radioactive waste 0 0 39. Total amount of hazardous waste 15,355,241 14,173,328 Most of the waste Prysmian generates comes from processing copper, aluminum, plastic, rubber, and insulating materials. Signiﬁcant waste for the sector includes non-ferrous metal residues, plastic waste and production scrap, which are managed according to speciﬁc environmental regulations to ensure proper management and effective recovery or disposal. The main waste generated by Prysmian’s operating units includes cable scrap (ﬁnished or semi‑ﬁnished products), scrap materials from cable production (waste compounds, spent oils and emulsions, copper or aluminum sludge), packaging materials and urban waste. The waste reporting process uses a common tool (HSEDM). Environmental data (including the quantity of waste) is input monthly, providing a detailed picture of how consumption and waste production vary over time. To ensure standardized reporting policies, as required under European legislation, the HSE Corporate team has decided to apply the same waste classiﬁcation criteria to all operating units. In this sense, the main waste generated by production activities is divided into speciﬁc categories, each classiﬁed according to hazard level (hazardous and non-hazardous waste).
Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement 143 2025 31.a Technical material 31.a Biological materials 31.b Of which from sustainable sources Total purchased materials 31.c Of which reused or recycled components kton kton % Kton Kton % Metals 1,395.35 – – 1,395.35 149.48 10.71% Compounds 385.70 – – 385.70 Ingredients 305.05 – – 305.05 Chemical products 5.21 – – 5.21 Other (paper, yarns, tapes, petroleum) 28.56 – – 28.56 Total 2,119.86 – – 2,119.86 149.48 7.05% 2024 31.a Technical material 31.a Biological materials 31.b Of which from sustainable sources Total purchased materials 31.c Of which reused or recycled components kton kton % Kton Kton % Metals 1,267.10 – – 1,267.10 102.60 8.10% Compounds 359.40 – – 359.40 – Ingredients 304.70 – – 304.70 – Chemical products 5.20 – – 5.20 – Other (paper, yarns, tapes, petroleum) 31.50 – – 31.50 – Total 1,967.90 – – 1,967.90 102.60 6.04% The methodology used involves extracting the materials used, broken down by weight, from the digital reporting system used by the Procurement team. The “Metals” category shown in the table refers to metals the Group considers strategic (Cu, Al, Pb), and other metals used as raw materials. “Compounds” refer to materials used in rubber processing and polymer mixtures, while “Ingredients” (such as talc, kaolin, carbon, etc.) are used for various functions, including strengthening, accelerating, and coloring. The recyclability rate of the materials contained in products is calculated based on the volumes of materials purchased globally in 2022, 2023 and 2024. Data for 2025 was not yet available at the time this report was published.
PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 144 Resource outﬂows (35., 36., 40.) – products and materials Description 35. Key products and materials that come out of the production process and are designed along circular principles, including durability, reusability, repairability, disassembly, remanufacturing, refurbishment, recycling, recirculation by the biological cycle, or optimization of use of the product or material through other circular business models. All Prysmian products are designed and manufactured according to the highest market standards and are expected to have a lifetime fully in line with the needs of the most demanding customers. As a rule, the market does not assess products based on their expected lifetime, which is not considered a differentiating factor. An exception is represented by the Sirocco line of optical ﬁber cables, for which in 2024 an expected lifetime of over 40 years was declared, compared to the market standard of around 20–25 years. The reference point in this regard is the product construction standards, which ensure the overall performance of the cable as long as it is manufactured in accordance with those standards. Any speciﬁc requirements are managed contractually and through warranties agreed directly with the customer, for example in the case of turnkey projects in the Transmission area. In terms of circularity and end-of-life recyclability, Prysmian is not directly involved in the recovery and management of cables at the end of their life, although some customers are beginning to show interest in developing joint recovery or end-of-life management initiatives. It should be noted that, in principle, metal (Cu or Al) represents the most valuable part of end-of-life cables and is already typically recovered by customers when existing cables are removed and replaced with new installations. In this context, Prysmian’s proposal of the new proprietary P-Laser technology is particularly relevant, as it enables the recovery of 100% of the materials making up the power cable, including the plastic components (in addition to the metal). The use of fully thermoplastic P-Laser materials makes it possible to recover the plastic portion of the cable, which is currently not feasible because the materials primarily used today are cross-linked plastics that cannot be easily recycled. Also from a circularity perspective, the company is increasingly committed to the use of secondary (recycled) materials for both metals and plastics, as well as to the continuous reduction of production waste and its reuse within plants wherever possible. Further details on all these activities are provided in section ESRS-E5. 36. Material outﬂows: 36. (b) repairability of products There is no product repairability assessment system. 36. (c) rates of recyclable content in products 88% 36. (c) rates of recyclable content in packaging 0% 40. Methodologies used to calculate the data and in particular the criteria and assumptions used to determine and classify products designed along circular principles See the KPIs indicated in ESRS E5 with regard to P-Laser, recycled PE and Copper. The recyclability rate of the materials contained in the products is calculated based on the volumes of materials purchased globally in 2022, 2023 and 2024, resulting in a value of 87%–88%. As for the recyclability of packaging materials, there is no central visibility. Spain and the UK currently have an SAP linked tool that estimates the amount of outgoing packaging, including the percentage of recycled content and its recyclability level.
Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement 145 The breakdown by expected durability of the products placed on the market is also shown with respect to the industry average. Prysmian is aligned with the industry average in most cases. Resource outﬂows (36. a) Expected durability of products placed on the market (years) Industry average (years) Submarine cables 40 40 Energy – Distribution and Transmission 40 40 Energy – Renewable generation 25-30 25 Energy – Construction 30-50 30-50 Energy – Infrastructure 20-40 20-40 Energy – Transport 10-30 10-30 Energy – Industrial 5-30 5-30 Telecom products – Sirocco cables >50 20-25 Telecom products – FO >50 20-25 Network components 40 40 The industry average is based on product lifetimes published by Europacable in documents related to the calculation of Scope 3 emissions for different product categories, classiﬁed by area of application. The expected durability of Prysmian’s Telecom products (Sirocco and FO cables) was extended based on the results obtained during speciﬁc lifetime tests carried out in recent years. Other metrics Entity-speciﬁc KPI UoM 2025 2024 Share of recycled content in PE jackets and copper % 21.3 16.2 Sustainability-linked revenues % 44.2 43.1 EPD Assessments Number ~200 ~120 Share of recycled content in PE jackets and copper Prysmian has drawn up and adopted an operating procedure (OP‑R&D‑CD‑002) that clearly deﬁnes the scope of application for recycled PE. For example, in the case of r-PE, only quantities used in the jackets for LV and MV cables are taken into account. The procedure also identiﬁes the functions responsible for managing and monitoring the project, speciﬁcally the R&D team. An operating procedure (OP-PUR-BM-001) was also drawn up to establish controls and workﬂows for r‑CU. To calculate the KPI, quantities of material are measured in Metric Tons (MT) and the metric is deﬁned as the quantity of recycled material used versus the total quantity purchased. These indicators correspond to the percentage in weight of the recycled content of certain materials purchased. The scope of the indicator includes: 1. polyethylene used in jackets, excluding applications where customers do not permit the use of secondary materials; 2. copper purchased at Group level, excluding occasional suppliers and semi‑ﬁnished products. The metric is measured using technical assumptions based on the addressable percentage of recycled material allowed in external jackets for MV and HV cables. The drivers are technical requirements or customer‑speciﬁc constraints. Progress related to the metric is monitored with respect to the 2022 baseline, and is measured over a three-year time frame, consistent with the Long-Term Incentive cycle. The data are not validated by an external entity other than the party providing assurance for this document.
PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 146 Further details on calculation methodology, controls and KPI governance are provided in the section “Methodological note” in this Consolidated Sustainability Statement. Sustainability-linked revenues This metric covers Sustainable Products Lines produced across all geographical areas and business segments. The metric’s reporting process is described in detail in the operating procedure for calculation of the KPI “Share of revenues linked to sustainable products – KPI calculation” published on the Company’s Intranet. The document was released internally in December 2024. The KPI is calculated on the basis of sales related to sustainability-linked solutions 60 , as described under “Targets” in this section. E Path ratings are updated quarterly to reﬂect changes in product scoring against the E Path criteria (based on a combination of 6 E Path criteria on which the calculation is based) during the period in question. Sales of products classiﬁed as E Path are added to sales of articles belonging to other product lines 61 included in the sustainability- linked indicator, identiﬁed on the basis of speciﬁc technical characteristics. The calculation process involves several steps, including veriﬁcation of the geographic scope within which SPL product calculation is enabled; recalculation of products within the various SPLs (Sustainable Product Lines) that use the design/engineering applications applied within the company; quality checks of the data obtained from the recalculation; and valuation of revenues as a share of total Group revenues. The KPI is calculated as: SPL revenues Total Group revenues The data are not validated by an external entity other than the party providing assurance for this document. Further details on calculation methodology, controls and KPI governance are provided in the section “Methodological note” in this Sustainability Statement. 60 More information on sustainability-linked solutions is provided in the section “Methodological note” in this document, which explains that the term in question differs from the deﬁnition used in Regulation 852/2020. 61 Please refer to the Target section of this chapter, where these lines are listed. Number of EPD assessments The principal tool for assessing the environmental impact of products is the LCA (Life Cycle Assessment). This covers the entire life cycle and provides the basis for the related Environmental Product Declaration (EPD), which maps the environmental performance of the product over its entire lifetime. The EPD assesses product performance across various impact categories, including global warming, water footprint, ecosystems acidiﬁcation, etc. In 2025, an EPD management system (including the associated LCAs) was created to optimize the assessment of a product’s environmental performance, in line with both the HSEE Policy and market needs. This involved adapting a recently purchased speciﬁc tool to ﬁt with business processes. A pilot project was launched at the beginning of November 2025 in northern Europe, France and Spain. During 2026, the project will be extended to include the rest of Europe, Australia and New Zealand. In order to make the data easier to use, the tool has been integrated into Prysmian’s ESG Data Platform, used in the standardized management of sustainability data. The aim is to optimize processes by exploiting synergies between the various corporate functions, ensuring that sustainability requirements are met and effectively responding to the needs of internal and external stakeholders. The Platform offers centralized data access, providing transparency, quality and traceability during audits and reviews. In this regard, the EPD tool is an important instrument for making sustainability data, speciﬁcally those necessary to product environmental impact assessment, collected from different sources available to various corporate functions. As the EPD is subject to assurance and validation by accredited bodies, Prysmian decided to adopt a certiﬁed management system. This is designed to automatically generate EPDs compliant with a PCR (Product Category Rule) for cables. The management system the Company purchased is based on the PCR released by EPD Global, the Norwegian program operator. Efforts are currently underway to extend compatibility to include the PCRs of other program operators.
Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement 147
S – SOCIAL DISCLOSURES
ESRS S1 – OWN WORKFORCE
152 PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 S1 – OWN WORKFORCE 1 It should be noted that for the purposes of ESRS S1, both employees who have an employment contract with Prysmian, and non- employees such as interns, apprentices and agency workers, are included in the own workforce, in line with ESRS requirements. Governance In 2025, Prysmian further strengthened its commitment to responsible governance in people management, placing values like inclusion, integrity, transparency, and continuous development at the heart of its organizational model. The Group has consolidated policies and processes, aimed at ensuring equal opportunities, occupational wellbeing and professional growth, and promoted a corporate culture based on merit and active listening. Oversight of human capital-related issues, and coordination of activities for their implementation, are the responsibility of the Human Resources and Organization team and the Group Risk & Compliance team, in cooperation with local teams at regional and national level. Health and safety issues are managed by the Health, Safety and Environment (HSE) team. These teams, supported by the Strategy and Investor Relations team, periodically report to the Sustainability Committee, which in turn updates the Board of Directors on the progress of initiatives, and the achievement of long-term goals in such areas as equity and inclusion, engagement, training and occupational safety. Regarding remuneration, after discussion with the Sustainability Committee, the process continues with the Remunerations and Nominations Committee (RemCo) and the Control and Risks Committee, before concluding with the Board of Directors. These governance mechanisms ensure strategic, consistent and integrated people management, which is a key element for the Group’s sustainable success worldwide. Indeed, employee engagement in health and safety issues takes place centrally, via the Group HSE team. A cascade system is applied, whereby operational responsibilities are allocated to the HSE directors of Prysmian’s geographic areas, who operate independently within the various Group regions. Various committees, structures, and periodic consultation and communication procedures are in place, depending on the issues and the type of engagement required. Comprehensive and supportive means of communication are available to all employees and stakeholders. These means provide clear channels for employees and stakeholders to use to report their comments and proposals to management on improvements related to material, actual and potential, positive and/or negative risks/opportunities/impacts that affect or may affect them. Strategy Prysmian has always recognized that its people 1 are a vital asset for the company. The Group’s history and achievements are the outcome of its employees’ knowledge and skills, as well as their continuous engagement in the life of the Group. In line with this vision, in 2025 Prysmian continued to develop an integrated human capital management strategy that focuses on four key pillars: talent attraction and development; promotion of an inclusive and safe work environment;
153 Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement enhancement of in-house skills via continuous training; a safety strategy to ensure health protection for employees and non-employees. Special attention was paid to boosting employer branding initiatives, diversifying recruitment channels, and building partnerships with universities and technical colleges to attract the next generation of professionals. The strategic approach is based on comprehensive listening tools such as the global business climate survey, as well as feedback collected at key moments in the professional life cycle, which feed into a continuous improvement process. Prysmian has also expanded its management and leadership training programs, with the aim of preparing the Group’s future leaders to operate in complex, multicultural and rapidly changing environments. The Group also places additional focus on promoting internal mobility and international career opportunities, enabling employees to grow professionally within the global organization. To complement this strategy, the Group has strengthened its work-life balance policies, including ﬂexible initiatives designed to promote people’s mental and physical wellbeing and overall work-life balance. This integrated set of actions is further proof of Prysmian’s commitment to building a work environment in which everyone can express their potential and make an active contribution to the Group’s sustainable growth goals. In 2025, a new ﬁve-year corporate strategy for occupational health and safety, aimed at managing and ﬁnalizing key results (key points and objectives) to ensure the health of employees and non-employees, was validated and promoted. Identiﬁcation of IROs related to own workforce Financial Materiality Not material 2 = Financial materiality threshold Material Not material 2.5 = Impact materiality threshold Material Impact Materiality S1 - Own workforce Working conditions Equal treatment and opportunities for all Other work-related rights
154 PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 Sub-topic Sub-sub-topic Impact Positioning in the value chain Positive/ negative Actual/ potential Time horizon Other work-related rights Privacy Privacy safeguards Own operations (production activities) Actual Short term Privacy Lack of conﬁdentiality of employee data Own operations (production activities) Potential Short term Working conditions Health and safety Risks to workers' health and safety (e.g., occupational injuries, illnesses and diseases) deriving from industrial machinery, hazardous substances and dangerous working conditions Own operations (production activities) Actual Short term Other work- related rights Forced labor Exploitation and abuse of workers due to non-compliance with labor laws and internal standards Own operations (production activities) Potential Short term Working conditions Working time Workers' physical and mental fatigue, entailing negative impacts on wellbeing due to long working hours, poor working conditions and insufﬁcient rest Own operations (production activities) Potential Short term Adequate wages Inadequate wages affecting employees' living standards, wellbeing and productivity Own operations (production activities) Potential Short term Social dialogue Lack of social dialogue Own operations (production activities) Potential Short term Freedom of association, the existence of works councils and the information, consultation and participation rights of workers Lack of freedom of association Own operations (production activities) Potential Short term Collective bargaining, including rate of workers covered by collective agreements Adverse effects on working conditions and job security for employees not covered by collective labor agreements Own operations (production activities) Potential Long term Work-life balance Promotion of work-life balance Own operations (production activities) Actual Medium/ long-term Equal treatment and opportunities for all Gender equality and equal pay for work of equal value Violation of gender equality Own operations (production activities) Potential Short term Training and skills development Personnel upskilling Own operations (production activities) Actual Short term Measures against violence and harassment in the workplace Create a safer and more respectful work environment to reduce violence and harassment, and improve employee wellbeing Own operations (production activities) Potential Short term Positive impact Negative impact
155 Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement Sub-topic Sub-sub- topic Opportunity Positioning in the value chain Time horizon Current ﬁnancial effect Equal treatment and opportunities for all Training and skills development Improve workforce skills and talent development: generate value through increased efﬁciency and retention, and lower recruitment costs Own operations Long term N/A Working conditions Health and safety Introduction of high technology and automated solutions to improve the safety and working conditions of Prysmian employees at plants and installation sites Own operations Medium term See "Property, plant and equipment" in the Notes to the Financial Statements, in which health and safety investments are shown Work-life balance Improve work-life balance to increase employee retention, attract talent and lower recruitment costs Own operations Medium term N/A Sub-topic Sub-sub- topic Risk Positioning in the value chain Time horizon Current ﬁnancial effect Equal treatment and opportunities for all Privacy Non-compliance with data protection regulations in countries where the Group operates (e.g. GDPR, etc.), resulting in sanctions, penalties and/or reputational damage Own operations Medium term N/A Privacy Cyber attacks on the Group's IT systems and/ or plants, resulting in privacy breaches/loss of conﬁdential data (e.g., sensitive R&D data, customer data) and/or disruption to production processes Own operations Long term N/A Privacy Loss of sensitive/ conﬁdential data Own operations Long term N/A Working conditions Health and safety Evolving regulatory requirements in the HSE (health, safety and environment) ﬁeld, resulting in legal and compliance challenges and potential for reputational damage Own operations Medium term N/A Risk of Health & Safety matters for Prysmian workforce (such as injuries) due to failure to foster a health and safety culture in the work environment, leading to legal costs, compensation for damages and/or potential reputational damage Own operations Medium term See "Property, plant and equipment" in the Notes to the Financial Statements regarding the health and safety investments made during the period. In addition, the impairment tests included investments related to health and safety matters. For further details, see the related section and the explanation of investments included in the Notes to the Financial Statements
156 PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 The commitment to responsible governance, supported by dedicated teams and a comprehensive oversight system, generates signiﬁcant impacts on people and the organization. Policies and processes aimed at ensuring inclusion, transparency, meritocracy and continuous development help to improve employee wellbeing, strengthen a sense of belonging, and support the Group’s overall performance. Prysmian recognizes that people management is a critical factor for long-term sustainability and competitiveness. The opportunities identiﬁed primarily relate to strengthening equal treatment and equal opportunity, including initiatives to improve workforce skills and foster talent development. These measures generate tangible beneﬁts, including greater operational efﬁciency, lower recruitment costs and increased retention. Additional opportunities 2 The policies, actions, and targets described in the table have been linked to the IROs identiﬁed in the double materiality assessment, and there is no systematic direct connection between the actions, policies, and targets. 3 https://it.prysmian.com/privacy-policy arise from the introduction of technology and automation solutions to improve safety and working conditions in plants and at installation sites, as well as promotion of a better work-life balance, resulting in greater talent attraction and lower turnover. At the same time, Prysmian is aware of the risks associated with non- compliance with data protection regulations, cyber-attacks, and loss of sensitive data, which could lead to ﬁnes, reputational damage, and disruption to production processes. There are also challenges related to evolving Health, Safety and Environment (HSE) regulatory requirements, entailing potential legal and reputational impacts. The ability to monitor and manage such risks, while integrating opportunities into a long-term strategy, is therefore vital for ensuring organizational resilience, business continuity and sustainable competitive positioning in the global marketplace. Material IRO management procedures IRO 2 Policy Action Target I - Privacy safeguards Privacy Policy 3 Code of Ethics IT security integrity assessment I - Lack of conﬁdentiality of employee data Privacy Policy Code of Ethics IT security integrity assessment I - Risks to workers' health and safety (e.g., occupational injuries, illnesses and diseases) deriving from industrial machinery, hazardous substances and dangerous working conditions HSEE Policy Own workforce safety: Zero & Beyond Focus on trafﬁc management, including related procedures and mitigation measures to be implemented at all reporting units (global action tracker) Upgrade of anti- collision technologies to be installed on the Company’s forklift ﬂeet Safety Academy: training program for the Group's HSE professionals, aimed at strengthening technical and managerial skills related to health, safety and environment Reduction in the lost time injury severity rate I - Exploitation and abuse of workers due to non-compliance with labor laws and internal standards Human Rights Policy Code of Ethics Human rights due diligence and audits Continue >>
157 Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement IRO 2 Policy Action Target I - Workers' physical and mental fatigue, entailing negative impacts on wellbeing due to long working hours, poor working conditions and insufﬁcient rest Human Rights Policy Code of Ethics Wellbeing and mental health activities Human rights due diligence and audits Speak-up survey I - Inadequate wages affecting employees' living standards, wellbeing and productivity Human Rights Policy Code of Ethics Recruitment Policy Equity and Inclusion (E&I) initiatives Due diligence and human rights audits Assessment and monitoring of pay equity Employee stock ownership plans Percentage of employees who are long-term shareholders via equity-based plans I - Lack of social dialogue Human Rights Policy Code of Ethics Labor union relations management I - Lack of freedom of association I - Adverse effects on working conditions and job security for employees not covered by collective labor agreements Human Rights Policy HSEE Policy Code of Ethics Labor union relations management Human rights due diligence and audits Own workforce safety: zero and beyond I - Promotion of work- life balance Human Rights Policy Code of Ethics Global Parental Policy Wellbeing and mental health activities Equity and Inclusion (E&I) initiatives Speak-up survey I - Violation of gender equality Human Rights Policy Code of Ethics Anti-Harassment Policy Helpline Policy Recruitment Policy Equity and Inclusion (E&I) initiatives Human rights due diligence and audits Assessment and monitoring of pay equity % of female desk workers hired, out of total employee hires % of women in executive positions I – Personnel upskilling Code of Ethics Performance and talent management programs Training and development programs I - Create a safer and more respectful work environment to reduce violence and harassment, and improve employee wellbeing Human Rights Policy Code of Ethics Anti-Harassment Policy Helpline Policy Equity and Inclusion (E&I) initiatives Human rights due diligence and audits Wellbeing activities and mental health initiatives O - Improve workforce skills and talent development: generate value through increased efﬁciency and retention, and lower recruitment costs Human Rights Policy Code of Ethics Recruitment Policy Performance and talent management programs Training and development programs Employee stock ownership plans O - Introduction of high technology and automated solutions to improve the safety and working conditions of Prysmian employees at plants and installation sites Human Rights Policy Code of Ethics HSEE Policy Focus on trafﬁc management and upgrade of anti-collision technologies to be installed in the Company’s forklift ﬂeet Reduction in the lost time injury severity rate O - Improve work-life balance to increase employee retention, attract talent and lower recruitment costs Human Rights Policy Code of Ethics Recruitment Policy Global Parental Policy Equity and Inclusion (E&I) initiatives Wellbeing activities and mental health initiatives Performance and talent management programs Talent attraction activities Continue >> >> Continue
158 PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 IRO 2 Policy Action Target R - Non-compliance with data protection regulations in countries where the Group operates (e.g. GDPR, etc.), resulting in sanctions, penalties and/or reputational damage Privacy Policy Code of Ethics Corporate Security Policy IT security integrity assessment Corporate security activities R – Cyber-attacks on the Group's IT systems and/or plants, resulting in privacy breaches/loss of conﬁdential data (e.g., sensitive R&D data, customer data) and/or disruption to production processes R - Loss of sensitive/ conﬁdential data R - Evolving regulatory requirements in the HSE (health, safety and environment) ﬁeld, resulting in legal and compliance challenges and potential reputational damage HSEE Policy R- Risk of Health & Safety matters for Prysmian workforce (such as injuries) due to failure to foster a health and safety culture in the work environment, leading to legal costs, compensation for damages and/or potential reputational damages HSEE Policy Own workforce safety: Zero & Beyond; Focus on trafﬁc management, including related procedures and mitigation measures to be implemented at all reporting units (global action tracker); Upgrade of anti-collision technologies to be installed on the Company’s forklift ﬂeet; Safety Academy: training program for the Group's HSE professionals, aimed at strengthening technical and managerial skills related to health, safety and environment Reduction in the lost time injury severity rate 4 https://www.prysmian.com/sites/www.prysmian.com/ﬁles/media/documents/Prysmian%20Human%20Rights%20Policy_2025.pdf For further details about the standards underlying the Policy, see the document posted on the company’s website. Policies Given the importance that Prysmian places on its workers, the company has made a concrete commitment to creating policies that take into account the impacts, risks and opportunities associated with managing its entire workforce. This approach is applied to all Group sites and activities. All Group policies are implemented via speciﬁc procedures, and communicated to employees worldwide via various channels, including the company’s intranet, newsletters, physical or digital bulletin boards, Workday platform and the company’s website. Human Rights Policy The Human Rights Policy 4 , signed by the CEO and approved by the Board of Directors in its updated version on July 30, 2025, sets out Prysmian’s formal commitment to promoting and respecting fundamental human rights principles throughout the value chain and in the communities in which it operates. This policy applies within the Group’s physical and legal boundaries, and covers corporate activities as well as activities carried out by its employees and subsidiaries. The policy is also extended to self-employed professionals working at the Group’s ofﬁces and plants. >> Continue
159 Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement Using a risk-based approach, the Group Compliance and Internal Audit teams periodically carry out monitoring and audit activities aimed at verifying proper application of the Policy within the organization. The Human Rights Policy is based on respect for the dignity, freedom and equality of all people, rejecting all forms of discrimination, forced or child labor and any unlawful behavior. The policy’s overall objectives include promoting equal opportunity, protecting workers’ health and safety, safeguarding personal data, and supporting the socioeconomic development of the communities in which the Company operates. The policy refers to material impacts and risks, including discrimination, privacy violations, labor exploitation, regulatory non-compliance, and potential reputational damage. At the same time, it identiﬁes strategic opportunities related to building stakeholder trust, improving working conditions, and enhancing talent. Prysmian takes a number of concrete measures to prevent and remedy human rights impacts, which include due diligence procedures, in- house training, reporting systems, and ongoing monitoring: Due diligence and risk assessment Prysmian applies human rights due to diligence processes throughout the value chain, and assesses risks of discrimination, forced or child labor, and privacy violations. These processes enable potential negative impacts to be identiﬁed and mitigated before they occur; Training and awareness-raising All Prysmian employees and management are provided with training programs designed to spread a culture of respect for human rights, and ensure that everyone is familiar with the Policy’s rules of conduct and principles; Whistleblowing and remediation mechanisms Prysmian has set up whistleblowing channels and internal procedures for employees and stakeholders who need to report violations or non-compliant behavior. Disclosures are handled conﬁdentially, and may lead to immediate corrective action; Monitoring and reporting Prysmian adheres to the United Nations’ Global Compact, thereby strengthening its commitment to international standards and to promoting sustainable and responsible practices. These measures demonstrate Prysmian’s systemic and proactive approach: in addition to prevention of negative impacts, concrete tools are deployed for remediation and continuous improvement. This enhances the Group’s reputation as a responsible employer and reliable partner in the communities in which it operates. The international standards on human rights taken into consideration in drawing up the Policy include: The International Bill of Human Rights; The Universal Declaration of Human Rights; The International Labor Organization (ILO) Declaration on Fundamental Principles and Rights at Work and its follow-up; The UN “Protect, Respect and Remedy” Framework, developed by the UN Human Rights Council; The OECD Children’s Rights and Business Principles; The SA8000 Guidelines; The OECD Guidelines for Multinational Enterprises; The United Nations Global Compact; The ILO’s Tripartite Declaration concerning Principles on Multinational Enterprises and Social Policy; The United Kingdom Modern Slavery Act; UNICEF and The Danish Institute for Human Rights, Children’s Rights in Impact Assessments; Amnesty International, Universal Declaration of Human Rights; CSR Europe, Assessing the effectiveness of company grievance mechanisms; European Commission, ICT Sector Guide on Implementing the UN Guiding Principles on Business and Human Rights. Prysmian took stakeholder opinion into account when deﬁning the Policy, collecting opinions through a process of consultation and dialogue that took place via one-to-one meetings, corporate events and surveys. This process involved employees, nongovernmental organizations (NGOs), labor unions, suppliers,
160 PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 and other stakeholders, and was designed to gain a better understanding of human rights issues and ensure that the policy adequately addressed the expectations and alerts of all stakeholders. In drawing up the document, Prysmian also considered relevant international regulations and best practices, ensuring full alignment with global ethical standards and community expectations. Moreover, Prysmian actively encourages all its suppliers to adopt and abide by the principles set out in the Policy, in line with the provisions of its Code of Business Conduct 5 , thereby helping to build a responsible, ethical and sustainable supply chain. HSEE (Health, Safety, Environment and Energy) Policy In 2024, Prysmian updated the HSEE Policy 6 , which was signed by the CEO (who is responsible for implementation of the Policy via the appointed teams), the COO, and the HSE vice president, and approved and validated by the Sustainability Committee. The Policy is published on the company’s website, and contains all the health and safety principles that companies within the Group are committed to complying with. For more details on the HSEE Policy, see section ESRS E1. Code of Ethics The Code of Ethics is a key tool for the Group. It sets out fundamental principles that guide the day-to-day activities and behaviors expected of all parties acting on behalf of Prysmian. It deﬁnes the values of integrity, transparency, fairness and respect for people, guides business decisions, and prevents illegal or irresponsible behavior that could result in legal sanctions, ﬁnancial damage or reputational impacts. 5 https://www.prysmian.com/sites/www.prysmian.com/ﬁles/2024-03/Prysmian_Code-of-Business-Conduct_Final.pdf 6 https://www.prysmian.com/sites/www.prysmian.com/ﬁles/2024-07/HSEE-POLICY-June-2024.pdf The Code also takes into account the economic, social, and cultural characteristics of the communities in which the Group operates, promoting behavior that respects local contexts, and encouraging responsible interaction with all stakeholders. It is also inspired by the principles of the United Nations 2030 Agenda and helps the Company achieve its Sustainable Development Goals, providing an ethical framework in line with Prysmian’s global commitment to sustainability. The Code serves as a reference point for the protection of human rights, promotion of safe and inclusive working conditions, and compliance with applicable regulations in the various countries where the Group is present. It includes speciﬁc principles related to bribery prevention, conﬂict of interest management, data conﬁdentiality, proper use of corporate resources, and prohibition of any form of discrimination, harassment, or abuse. The Risk and Compliance and Internal Audit teams continuously monitor stakeholders’ compliance with and enforcement of the Code, in cooperation with the Human Resources team for aspects related to people and organizational behavior. These teams carry out periodic audits, promote training and awareness-raising activities, and ensure that the Code is updated in line with regulatory developments and international best practices. Any party carrying out activities in the name of and/or on behalf of Prysmian, as well as third parties with whom the Company does business – including suppliers, customers and sales agents – are required to adhere to the principles of the Code. Via this system of principles, controls and safeguards, the Code of Ethics helps to strengthen a responsible corporate culture geared toward respecting people and communities, mitigating conduct risks, and supporting the Group’s sustainable business model over the long term.
161 Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement The document is approved by the Board of Directors and published on the company’s website 7 and intranet, thus ensuring full accessibility. The Code is an integral part of contractual relationships with employees and business partners, and its enforcement is supported by conﬁdential whistleblowing channels that enable anyone to report violations conﬁdentially. Global Parental Policy The Global Parental Policy, launched in May 2023 and available on the Group’s website 8 , became fully operational for all sites as of January 1, 2024, with the stated aim of recognizing the value of parenting. Responsibility for implementing the Global Parental Policy lies with Prysmian’s senior executives, especially the Chief Human Resources Ofﬁcer (CHRO), who coordinates initiatives related to human resource management, ensuring that Company policies are aligned with global goals and local regulations. The Global Parental Policy is in line with international human rights and gender equality standards, such as the United Nations Convention on the Rights of the Child and the International Labor Organization’s (ILO) guidelines on workers’ rights, including parental leave. The main content of the policy includes introduction of global minimum standards for maternity, paternity and parental leave, adoption of ﬂexibility initiatives to promote work-life balance, and recognition of the central role played by parenthood in employees’ wellbeing. The overarching goals include promoting equal opportunity, reducing gender inequality, supporting parents’ professional development, and strengthening an inclusivity-oriented corporate culture. 7 https://www.prysmian.com/sites/www.prysmian.com/ﬁles/2024-08/Prysmian-Codice Etico-Luglio-2024-Final.pdf La Cultura del- l’Etica e Integrità | Prysmian For further details about the standards that inspire the Code, see this page. 8 https://www.prysmian.com/sites/www.prysmian.com/ﬁles/2024-10/PRYSMIAN_PARENTAL_POLICY_2024_new_brand.pdf For further details about the standards, pillars and principles underlying the Code, see this page. 9 For further details about the standards underlying the Policy, see this page: https://www.prysmian.com/sites/www.prysmian. com/ﬁles/2024-03/side-by-side-anti-harassment-policy-ﬁnal.pdf The policy refers to material impacts and risks, such as potentially inconsistent application of local regulations, the risk of maternity or paternity discrimination, and the need to ensure consistent treatment in a multinational context. At the same time, this opens up strategic opportunities, such as increasing employee retention, improving the Group’s attractiveness as a responsible employer, and reducing turnover and recruitment costs. The monitoring process includes internal audits to verify proper policy implementation at the various sites, and annual progress reporting in the Sustainability Statement. This approach provides transparency, measurability and continuous improvement, and boosts consistency between the Group’s global commitments and the local needs of workers. In drawing up the Global Parental Policy, Prysmian took into account the views of key stakeholders, such as employees, labor organizations, and legal advisors, to ensure that the policy respects cultural diversity, complies with local regulations, and meets employee expectations. Engagement of these groups has enabled creation of an inclusive policy that takes into account the requirements of work-life balance, thereby responding to the needs of different groups of employees in various countries and cultures. Anti-Harassment Policy In 2021, the Company launched a comprehensive Anti-Harassment Policy, which is available on the Group’s website 9 , aimed at combating all forms of workplace harassment (verbal, physical, sexual, psychological), including defamation, bullying and intimidation. The Anti-Harassment Policy applies to all business activities worldwide, and covers the entire value chain, including employees, non-employees, suppliers, contractors and other stakeholders.
162 PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 Implementation of the Anti-Harassment Policy is the responsibility of the Chief Human Resources Ofﬁcer and Organization Ofﬁcer, who is part of Prysmian’s senior management team. The policy also involves the human resource directors of individual regions and business areas, who are responsible for implementing and monitoring harassment prevention measures in all business areas. The document outlines two procedures, one formal and the other informal, for reporting cases of harassment and requesting ofﬁcial action by the Compliance team. In drawing up the Anti-Harassment Policy, Prysmian took into account opinions and feedback from key stakeholders, including employees, labor unions, legal experts, and organizations specialized in combating harassment and discrimination. This inclusive approach has enabled Prysmian to draw up a policy that responds to the needs of a respectful and safe work environment, taking into account the various corporate cultures and geographies in which it operates. The main content of the policy includes: a clear deﬁnition of unacceptable conduct, a commitment to a safe and inclusive work environment, victim protection, and promotion of a corporate culture based on mutual respect. The overarching goals are to prevent and combat all forms of harassment, protect workers’ dignity, strengthen internal and external trust, and consolidate the Group’s reputation as a responsible employer. The policy refers to material impacts and risks, including reputational damage, reduced productivity, increased turnover, and potential legal consequences arising from harassment incidents. At the same time, it opens up strategic opportunities, including improving the business climate, increasing employee retention, and attracting new talent via an inclusive and safe environment. 10 https://www.prysmian.com/sites/default/ﬁles/atoms/ﬁles/it-global-diversity-recruitment-policy-2023_0.pdf The monitoring process involves collection and assessment of whistleblowing disclosures, in- house surveys on organizational wellbeing, and annual reporting in the Sustainability Statement. Training and awareness-raising programs are also provided for all employees to raise awareness and prevent non-compliant behavior. This system ensures transparency, accountability and continuous improvement, and guarantees that the Anti-Harassment Policy is applied consistently and effectively across all the Group’s sites. Recruitment Policy The main aim of Prysmian’s Recruitment Policy 10 is to strengthen the recruitment process through adoption of a methodology that promotes the highest standards for recruitment activities. The English-language Policy was ofﬁcially adopted worldwide in March 2019, renewed in November 2023, and translated into Italian, German, Spanish, French, Portuguese and Chinese. The document is available on the Group’s website, where detailed content, objectives and underlying standards can be viewed. The Policy covers all the Company’s recruitment activities worldwide and applies to all the geographical areas and business segments in which Prysmian operates, with the aim of ensuring that the recruitment process is inclusive and non-discriminatory. Implementation of the Recruitment Policy is the responsibility of the Chief Human Resources and Organization Ofﬁcer, who is a member of Prysmian’s senior management team. The Company’s Executive Committee also plays a key role in ensuring that the Policy is adopted and adhered to worldwide. Operational responsibility for local implementation of recruitment initiatives is delegated to the human resources directors of individual regions or business units.
163 Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement The main content of the Policy includes deﬁnition of transparent and skills-based selection criteria; a commitment to equal access to employment; adoption of inclusive and non- discriminatory recruitment practices; promotion of diversiﬁed candidate pools in recruiting programs as a strategic objective for the Group. The overarching goals are to ensure fair and meritocratic hiring processes, boost the Group’s attractiveness as a responsible employer, reduce the risk of discrimination, and encourage the growth of an inclusive and innovative environment. The policy refers to material impacts and risks, such as possible bias in selection processes, loss of qualiﬁed talent, reduced competitiveness, and potential reputational damage arising from discriminatory practices. At the same time, it opens up strategic opportunities, including improving the business climate, increasing employee retention, the ability to attract talent worldwide, and reducing turnover and selection costs. In keeping with the Group’s principles and governance, the Internal Audit and Compliance functions monitor the application of equal opportunity policies, paying close attention to the proper selection processes. Human Resources (HR) veriﬁes the consistency of choices made, and updates the Remunerations and Nominations Committee and the Sustainability Committee regarding the progress of dedicated programs. The company periodically publishes reports on the state of recruitment at Group level and within its various organizational areas. The Company also holds training programs designed to raise awareness of inclusion and equal opportunity issues for recruiters and managers. 11 https://www.prysmian.com/sites/www.prysmian.com/ﬁles/2024-07/01-Helpline-Policy-June-2024-Final.pdf When drawing up the Recruitment Policy, Prysmian consulted various stakeholders, including employees, labor unions, diversity advocacy groups, and external consultants specialized in inclusiveness and non-discrimination issues. In addition to the above categories, key stakeholders include potential candidates, human resources managers, recruiters, and external support organizations, such as recruitment agencies and NGOs concerned with inclusiveness and equal opportunity. Helpline Policy As part of its commitment to promoting ethical and legal behavior, Prysmian invites all Group stakeholders to report any actual or potential violations of the law, the Code of Ethics, and corporate policies and procedures, so that they may be properly investigated and assessed. To create a culture that is open to whistleblowing and ensure the necessary conﬁdentiality and security, Prysmian has adopted a Helpline Policy 11 . Among other things, this enables all Group stakeholders to report misconduct and suspected illegality, without affecting the commitment of management and the Human Resources team to enter into dialogue when necessary. Prysmian is constantly promoting awareness and use of its whistleblowing channels, through speciﬁc training activities aimed at desk workers via the Workday portal. To monitor the effectiveness of these initiatives and assess the level of awareness of key compliance programs, the Group periodically carries out surveys worldwide, primarily involving management and executives. These tools enable assessment of the extent to which available resources are disseminated and utilized, supporting continuous improvement of business practices related to integrity and transparency. Further details of this Policy are provided in section ESRS G1 – Business conduct.
164 PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 Corporate Security Policy In 2025, Prysmian’s Corporate Security team drew up the Global Corporate Security Policy, which will be approved by the CEO and submitted to the Board of Directors in 2026. The document sets out the Company’s security goals and objectives, including commitments and priorities. The Policy also sets out the key components of the team’s global organization, its responsibilities, and the security management system. In a recently issued Group Global Travel Policy, the Corporate Security team has also included a Security Travel Risk Management Procedure. The procedure deﬁnes the prevention and protection measures applied to mitigate security risks that may affect employees on business trips. This falls within the scope of an employer’s duty of care, as required by labor laws in many countries in which the Company operates, and more generally by the Company’s Code of Ethics. Health and Safety action OWN WORKFORCE SAFETY: ZERO & BEYOND SCOPE OF ACTION TIME HORIZON Short, medium and long term Own operations and the value chain In order to ensure the occupational health and safety of all its employees, Prysmian adopts a Zero & Beyond philosophy. “Zero” represents the goal of zero fatalities, injuries, or occupational diseases. “Beyond” is Prysmian’s goal for the future, ensuring safety not just in the workplace, but at home and in the communities in which the Group operates. Therefore, Prysmian strongly encourages everyone to be personally responsible for their own safety and the safety of people around them, so that any unsafe action may be halted. This requires anyone who has a relationship with Prysmian to commit to: Taking time to fully understand the safety rules and guidelines applicable in each envi- ronment they enter; Observing the “golden rules” for safe behavior; Setting a good example by putting safety ﬁrst; Continuously raising safety expectations and rewarding safe behaviors; Encouraging others to work safely, and thanking them for their contribution; Never overlooking unsafe conditions, and never acting without ﬁrst resolving the problem; Promoting efforts to manage known hazards proactively by prioritizing them based on their severity and probability of occurrence; Learning from every accident, near miss, and any unsafe conditions/actions reported. In 2025, the Zero & Beyond philosophy was further promoted – worldwide – via dissemination of a speciﬁc communication campaign during Safety Month, as well as the creation of new communication campaigns. Implementation of Zero & Beyond is also part of the Company’s 2025-2030 Safety Strategy. Financially speaking, in 2025 the initiative entailed investment of approximately €22,000 in OpEx for a dedicated communication campaign and for the 2025 Safety Month. FOCUS ON TRAFFIC MANAGEMENT, INCLUDING RELATED PROCEDURES AND MITIGATION MEASURES TO BE IMPLEMENTED AT ALL REPORTING UNITS (GLOBAL ACTION TRACKER) SCOPE OF ACTION TIME HORIZON S hort, medium and long term Own operations and the value chain Several organizational and procedural measures were put in place to mitigate trafﬁc management risk in 2025, including:
165 Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement Training the entire global workforce on golden rules and trafﬁc risk management, organized by the Corporate HSE team in collaboration with the Human Resources team. The initiative, targeting the entire Prysmian workforce, was launched in March 2025 and continued over the course of the entire year, thus ensuring worldwide coverage. Training was rolled out via a cascade process, with the support of HSE teams at regional, country and plant level, together with the Human Resources team, while its completion was monitored by all the teams involved, thus ensuring traceability and full effectiveness. OpEx of approximately €10,000 was envisaged for this activity in 2025, while approximately €20,000 was spent on preparatory activities in 2024. No additional budget is forecast for 2026. A 24-point corrective action plan, aimed at improving internal trafﬁc management at all Prysmian plants, was launched in January 2025. The plan, and its action tracker, addresses each individual Group reporting unit, and includes prevention and mitigation measures. The actions were deﬁned following a Root Cause Analysis (RCA) of a serious accident that occurred in late 2024 at one of Prysmian plants. The RCA and deﬁnition of corrective actions involved the HSE, Manufacturing, Supply Chain and COO teams, at regional and Group level. Tracker management is carried out at a global level, including periodic monitoring of progress and closure of corrective actions. Each region and plant is responsible for implementing and closing actions. The ideal period for closing all actions has been set as the end of the second half of 2026, thereby guaranteeing constant monitoring and comprehensive governance to ensure the plan’s effectiveness. Financially speaking, the initiative entailed OpEx of approximately €1,100,000 in 2025. Compared with the previous year, 2025 saw an overall 20% reduction in trafﬁc accidents within the Group’s plants, conﬁrming the effectiveness of the organizational measures and procedures adopted. This result highlights the positive contributions made by training, the corrective action plan and use of the global action tracker to strengthening the safety culture and mitigating trafﬁc management risk in operating activities. 12 Measures related to human factors (e.g.: training/information, reporting unsafe behaviors, promoting safe behaviors, etc.). UPGRADE OF ANTI-COLLISION TECHNOLOGIES TO BE INSTALLED ON THE COMPANY’S FORKLIFT FLEET SCOPE OF ACTION TIME HORIZON Short term Own operations The Group’s main health and safety risks include those related to the use of forklifts and the consequences of suboptimal internal trafﬁc management. In addition to the management, human 12 and organizational measures already taken, a worldwide project for large-scale deployment of anti-collision devices based on artiﬁcial intelligence and wireless technologies was launched in 2025, thanks to development of commercially available technologies. These systems enable warnings to be triggered and forklifts to slow down automatically when hazardous conditions are present. To date, these devices have been installed in various Group plants in the Europe, North America, LATAM, MEART, and China regions. Installation of these devices is part of the action tracker described above. As early as 2021, the Group drew up guidelines that set out the minimum number of devices to be installed on forklifts and for trafﬁc management. The rollout of these devices across Prysmian’s ﬂeet is centrally monitored, recording improvements of 5% in the frequency rate and 17.7% in the lost time injury severity rate compared with the previous year. Financially speaking, the initiative entailed OpEx and CapEx of approximately €390,000 in 2025. Forecast expenditure for 2026 will depend on the projects that are implemented in the coming months.
166 PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 SAFETY ACADEMY SCOPE OF ACTION TIME HORIZON Medium and long term Own operations Launched in 2021, the Safety Academy is a training course for the Group’s HSE professionals, aimed at strengthening technical and managerial skills related to health, safety, and the environment. Until 2023, the program was conducted via videoconferencing. An in-person format was introduced in 2024, providing participants with an immersive interactive experience. The Academy, which is held around three days once a year and alternates theoretical sessions, practical activities and feedback sessions, encourages professional development and team building among colleagues. The initiative is organized by the HSE Corporate team and the HR team and involves regional- level HR ﬁgures and regional HSE directors. HSE professionals from various Prysmian Group sites and countries participate in the Academy. The Safety Academy is now a strategic milestone for people’s development and for the spread of a shared safety culture at an international level. In 2025, the Safety Academy was held October 21-24 and attended by 24 people from different Group sites. This marked a 40% rise in the number of participants compared with 2024, and an increase in the budget allocated for training courses from around €3,000 to approximately €30,000. Overall, feedback gathered revealed that participant satisfaction was up 3% on 2024. OpEx of approximately €37,000 was earmarked for the Safety Academy in 2025. OpEx is forecast to reach €40,000 in 2026. Human resource management actions CORPORATE SECURITY ACTIVITIES SCOPE OF ACTION TIME HORIZON Short term Own operations The Corporate Security team is responsible for identifying, assessing and managing risks related to unlawful or violent acts that could jeopardize the security of the Company as a whole (personnel, assets, etc.) in the physical domain. Such acts include theft, robbery, civil unrest, acts of terrorism, war events, and other similar threats. In 2025, the Corporate Security team undertook the following activities: Acquisition of tools, services and internal procedures aimed at monitoring – including predictive monitoring – of security events worldwide (e.g., civil unrest, acts of terrorism, war events, etc.) in order to prevent, if possible, and, if not, promptly manage a crisis or dangerous situations that may expose personnel, facilities or vessels located in places affected by such events. These safeguards – linked to strengthening the Security Operations Centers at Group headquarters in Italy and in the LATAM region – have already been activated on several occasions and successfully deployed around the world in relation to war events and serious public order disturbances in various countries. This has enabled deployment of pre-emptive and management measures, to ensure the integrity of people and assets, and minimize the effects on business continuity. OpEx amounting to €85,000 was earmarked to implement these actions in 2025, while approximately €55,000 has been set aside for this purpose in 2026.
167 Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement
168 PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 Trials conducted for the deployment of technological systems for monitoring travel data and assistance and emergency services that beneﬁt employees on business trips, in collaboration with the Health, Safety and Environment and Insurance teams. These systems assess the proximity of employees on business trips to places affected by serious events or crises and ensure the prompt provision of assistance or emergency management, if needed. The trial phase covering employees of European companies has been completed, enabling determination of the Company’s speciﬁc needs, the best ways to implement these systems and services, and assessment of the features and quality of the systems and services available on the market. This phase has also enabled satisfactory management of actual assistance and emergency events. The project will be expanded worldwide. OpEx amounting to €35,000 was earmarked to implement these actions in 2025, while approximately €80,000 has been set aside for this purpose in 2026. Introduction of risk analysis and assessment activities based on security tools and criteria within the third-party assessment process, in collaboration with the Compliance and Procurement teams. This was done to raise the level of risk mitigation arising from interaction with third parties (e.g., suppliers). The activities were conducted on a sample of third parties from particularly sensitive industries, and effectively reduced risk exposure. These activities will be gradually extended worldwide and integrated with existing third-party qualiﬁcation and audit processes. OpEx amounting to €90,000 was earmarked to implement these actions in 2025, while approximately €100,000 has been set aside for this purpose in 2026. Conduct of in-house training activities related to awareness of security risks and knowledge of mitigation measures (in preventive and protective terms), as well as behaviors to be adopted and tools that are available in case of need. These activities, carried out in-person and online, focused on travel security risks, security risks related to speciﬁc destinations or projects, and gender- based violence risks in speciﬁc environmental settings. These activities enable training of more than 130 employees and will be extended to the entire workforce. OpEx amounting to €20,000 was earmarked to implement these actions in 2025, while approximately €30,000 has been set aside for this purpose in 2026. WELLBEING ACTIVITIES AND MENTAL HEALTH INITIATIVES SCOPE OF ACTION TIME HORIZON Short term Own operations In 2023, Prysmian launched a Wellbeing Manifesto and made it available to all employees on the Company intranet. The Manifesto sets out a comprehensive framework on what wellbeing means for the Company. For Prysmian, wellbeing is all about achieving a balance between personal fulﬁllment, inclusion, safety and vitality, which are elements that enable employees to pursue their aspirations and positively inﬂuence relationships with customers, colleagues and communities. The Group has also set up a steering committee and introduced wellbeing managers in the various regions and business areas, with the aim of coordinating local activities, and, through networking, encouraging the sharing and diffusion of ideas and initiatives. Key initiatives implemented to counter or reduce workers’ physical and mental fatigue, improve their wellbeing, and promote work-life balance, include: Mental health: Worldwide and local activities were implemented in 2025, including communication campaigns, sports initiatives, yoga and Pilates sessions, and webinars about mental health. The Company also organized speciﬁc workshops on stress management and psychological wellbeing run by experts in the ﬁeld. Physical wellbeing: Numerous sports events were promoted to encourage physical activity, including
169 Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement Wellbeing Week in Asia, Latin America and North America. In Milan, personnel were offered access to an “in-company osteopath”, and courses and special agreements with sports facilities were made available to employees. The Company also offered programs on health and prevention, including speciﬁc medical examinations. Wellbeing Index: A new tool for measuring wellbeing, the PERMAV model, based on Martin Seligman’s positive psychology methodology, was introduced in 2024. The goal is to assess levels of individual wellbeing and deﬁne improvement actions for individuals and work teams. The tool, which has already been used by several teams at Company headquarters and across the regions, has been made available to all Group employees. PERFORMANCE AND TALENT MANAGEMENT PROGRAMS SCOPE OF ACTION TIME HORIZON Short term Own operations Performance and talent management programs have been implemented to strengthen skills, encourage professional development, improve employee wellbeing and productivity, and support retention and attraction of new talent. P+, a process designed to assess Prysmian’s performance and potential, was created to enhance employees’ talent, support individual aspirations, and promote the growth and development of every employee. 13 For further information about the desk workers involved in the assessment process, see “Metrics” in this section. This approach enables staff members to deﬁne goals in agreement with their manager and corporate strategy, and to share aspirations geared toward professional and personal growth. The process is supported by the Workday online HR platform, which monitors individual performance and assesses behaviors on the basis of the corporate leadership model. This promotes transparent and direct communication between managers and employees, facilitating an ongoing discussion of results and enabling performance to be appraised utilizing objective criteria. The Workday platform also provides feedback tools that can be accessed at any time. Feedback can be sent to anyone in the Company, as well as requested about oneself or one’s co-workers, via rapid and intuitive procedures. The year-long process includes organized manager-employee interaction: Initial stage: goal setting; Mid-year review: assessment of progress and any areas for improvement; Closing the cycle: sharing of performance and potential assessments. There are two dimensions to the process’s ﬁnal assessment: 1. Performance, consisting of two basic criteria: – Achievements: measurable objectives, deﬁned on the basis of speciﬁc KPIs related to the role; – Leadership: behavior consistent with the guidelines and six key principles of the corporate leadership model, as well as compliance with the Code of Ethics. 2. Potential, assessed via three measurable indicators: – Motivation; – Learning agility; – Change leadership. For the reporting period, the P+ assessment process was started in January and involved 7,822 desk workers 13 . Certain areas for improvement were identiﬁed over the course of the year. Gathering feedback – from the CEO, the leadership team and employees – led to a review of the process, with changes being
170 PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 introduced as early as November 2025, to coincide with the launch of the last stage of the cycle. Prysmian’s new corporate values – innovation, collaboration and passion – are now at the heart of the P+ process. These values guide the entire assessment process and reﬂect the Company’s organizational culture, promoting behaviors in keeping with leadership expertise. First and foremost, the main changes introduced include separate assessments of performance and potential. The performance assessment is now discussed by the manager with the employee by February, which holds the manager accountable and ensures a more objective assessment. Unlike in the past, this element is no longer subject to calibration phases. However, the feedback on the assessment of potential is expected in May or June, after discussion with key players. The aim is to measure the impact of people in the Company and discuss growth opportunities, using available development tools (training, mentoring, technical ladder, assessment, etc.). This step also serves in establishing succession plans at Group level. Finally, another element of transformation can be found in the review of the overall timeline of the P+ process. This review responds to critical issues encountered in previous years and makes the entire process more agile, thus improving effectiveness in managing assessments and planning development actions.
171 Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement EQUITY AND INCLUSION (E&I) INITIATIVES SCOPE OF ACTION TIME HORIZON Short term Own operations Failure to promote equity and diversity in the workplace can make the environment less inclusive and have negative effects on people’s wellbeing. Here is a look at the portfolio of Prysmian’s global and local E&I activities conducted in 2025: “Mentorship Moms”, a new program Prysmian developed in 2024, was launched as a pilot project in Italy in February 2025. This initiative is designed to support mothers-to-be during the pre-maternity, maternity and return-to- work periods. It offers useful tools to improve their wellbeing and foster a productive and rewarding work environment, thereby beneﬁting individuals and the organization. Internal and external communication campaigns on Equity and Inclusion (E&I) were boosted, at global and local level, with the aim of raising employee and stakeholder awareness of these issues. Every year, Prysmian organizes global and regional educational workshops on E&I-related topics, which include eyewitness accounts from Group leaders. In 2025, on-demand training sessions were provided to all staff, covering topics like inclusive leadership and unconscious bias. These programs remind managers of the importance of identifying and eliminating any bias in performance appraisal processes; some regions also provide mandatory annual training. Development of Employee Resource Groups (ERGs), which are worldwide employee-led groups that deal with social and inclusion issues, was ongoing. After the ERG dedicated to STEM women, which has been active since 2023, various ERGs focused on gender equality, work-life balance, the LGBTQ+ community, and other issues have emerged in North America. At Company headquarters, in addition to the ﬁrst “VOICE” ERG, geared toward promoting a creative, free and inclusive corporate culture, two other ERGs dedicated to E&I and wellbeing have been created. Prysmian is a founding member of the PARI association, a project developed together with 14 other companies that is coordinated by Feltrinelli Education and sponsored by Valore D. The initiative, which is aimed at analyzing and spreading awareness of gender violence, has set up a network that is engaged in concrete actions and awareness- raising within companies and civil society. Prysmian has obtained voluntary UNI/PdR 125:2022 certiﬁcation for gender equality, in recognition of the Company’s commitment to undertaking concrete measures to foster an inclusive and diversity-friendly work environment. The certiﬁcation, which is applied within its Italian companies (Prysmian S.p.A. and EOSS S.r.l.), was issued by RINA, a multinational group active in more than 70 countries, after successful completion of an audit process covering such aspects as compensation, selection processes and professional growth opportunities. HUMAN RIGHTS DUE DILIGENCE AND AUDITS SCOPE OF ACTION TIME HORIZON Short-to-medium term Own operations Failure to enforce existing labor laws and apply high internal standards to protect workers and their rights could lead to worker exploitation and abuse. As Prysmian operates internationally in various countries and communities, the Company is committed to respecting and protecting the human rights of all employees and everyone affected by its activities.
172 PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 Since 2018, Prysmian has been implementing a human rights due diligence process (available on the company website 14 ) that enables the Company to map the potential impacts of its operations on human rights. 01. Assessment Assessment of current and potential impact on human rights, based on risk of violation at country and plant level, using desk analysis and self-assessment tools 02. Action Assessment of results and performance of audits at high- risk plants, and deﬁnition of actions needed to prevent and/ or mitigate the identiﬁed potential impact 03. Monitoring Performance monitoring via checks and audits carried out over the years 04. Resolution Resolution of violations 05. Communication Communication of performance in the Sustainability Statement 14 https://www.prysmian.com/en/company/ethics-integrity/human-rights Implementation of human rights due diligence and audits is a concrete response to material impacts, risks and opportunities identiﬁed in the context of workforce management. Speciﬁcally, these actions are aimed at: Preventing and mitigating negative impacts, such as the exploitation and abuse of workers, lack of privacy, violations of gender equality, and unsafe or undigniﬁed working conditions. Managing risks related to non-compliance with labor and data protection regulations (e.g., GDPR), entailing possible consequences in terms of penalties, reputational damage, and loss of sensitive data. Grasping opportunities for improvement, such as developing skills, promoting an inclusive and safe work environment, increasing the Company’s retention and attractiveness, and lowering recruitment costs.
173 Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement Via due diligence and human rights audits, the Group is committed to ensuring respect for workers’ fundamental rights, strengthening the Group’s social responsibility culture, and promoting its sustainable growth in line with international best practices and stakeholder expectations. An assessment of 100% of production sites was initiated in 2024, following the due diligence process, and completed in 2025. The assessment process was followed by an audit phase for six plants identiﬁed as being at high risk of potential human rights impacts, with the aim of verifying whether these risks were a valid concern. During the audits carried out in 2025, no signiﬁcant evidence emerged at any of the sites involved. In particular, in the APAC and North America regions, an opportunity was identiﬁed to strengthen speciﬁc training on human rights issues, including such topics as harassment, forced labor, and modern forms of slavery. Installation of dedicated corporate Helpline signage was also recommended for North American plants at highly visible, high- trafﬁc locations inside the plants. The Latin America region also successfully completed dedicated audits at two sites. The audits did not identify any signiﬁcant critical issues, thus conﬁrming the plants’ compliance with Group standards and international human rights best practices. The audit results help the continuous improvement of human rights safeguards throughout Prysmian’s global operations. The human rights due diligence adopted by Prysmian is a key element in the double materiality assessment (DMA) process. Through identiﬁcation, assessment and management of potential human rights risks and impacts throughout the value chain, due diligence provides key data and analysis for prioritizing and acting. This approach enables the human rights perspective to be integrated into the materiality assessment, ensuring that strategic and operational decisions are informed by a thorough understanding of the areas of highest risk and improvement opportunities, in line with international standards and stakeholder expectations. TALENT ATTRACTION ACTIVITIES SCOPE OF ACTION TIME HORIZON Short-to-medium term Own operations Talent attraction activities were developed to address possible negative impacts and, at the same time, enhance strategic opportunities that emerged from the materiality assessment. These initiatives are aimed at reducing the risk of skill shortages and difﬁculties in retaining qualiﬁed staff, aspects that can affect employee wellbeing, productivity, and the Company’s competitiveness. At the same time, talent attraction makes it possible to grasp opportunities such as workforce skills enhancement, talent development and the creation of an inclusive and attractive work environment. Via talent attraction and employer branding activities, Prysmian aims to attract highly qualiﬁed candidates and consolidate its ability to innovate and compete in the long term. These elements generate concrete value by encouraging greater efﬁciency, stronger retention, and lower recruitment costs, thereby contributing to the organization’s long-term sustainability and growth. Initiatives the Group put in place focused on three main areas: Promotion of internal mobility via internal job posting: the Group promotes opportunities internally via dedicated digital and physical marketing campaigns aimed at facilitating and encouraging possible internal rotations/movements. Worldwide recruitment programs: in the more than ten years since their launch, these programs have provided considerable beneﬁts, helping attract valuable staff from elsewhere and playing a key role in progressively achieving gender balance in employee hiring worldwide.
174 PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 Digital innovations in the recruitment process, with a view to improving the candidate experience via Workday, the Company’s staff management platform. Prysmian’s recruitment team is also supported by external consultants, who facilitate a growing interest among candidates via external scouting and market-mapping initiatives BUILD THE FUTURE, GRADUATE PROGRAM STEM IT SELL IT SUM IT 2025 program numbers: 41 recent STEM graduates 20,000 applications 63% female representation 13 editions since 2012 2025 program numbers: 40 professionals hired 45% female hiring 2025 program numbers: 5 sales roles hired 80% female hiring 2025 program numbers: 1 professional The goal of the Graduate Program is to recruit, support and develop recent graduates who will hold central roles in key areas for Prysmian's future, such as Operations, R&D and Sales. The goal of the STEM IT program is to introduce new skills from diverse cultures and with different backgrounds that are positioned to make a positive contribution to the process of cultural change and enhancement currently underway at Prysmian. The program also includes “Women in STEM IT”, a section devoted entirely to female leadership. The goal of the SELL IT program is to grow and develop the sales force. Originally launched in 2020, SUM IT is dedicated to professionals working within the industrial control team. TRAINING AND DEVELOPMENT PROGRAMS SCOPE OF ACTION TIME HORIZON Short term Own operations Training and development programs respond to the constant need to upskill personnel, which is a key determinant of productivity, wellbeing, and competitiveness. Continuing training and professional development serve as tools for generating value by improving efﬁciency, boosting retention, and lowering recruitment costs. At the same time, they promote talent attraction and retention, foster innovation, and support the organization’s sustainable growth, in line with ESG goals and stakeholder expectations. As well as making the Group more efﬁcient and attractive, a constantly updated workforce helps to strengthen internal trust, employee satisfaction and employees’ professional development prospects. Prysmian’s training is delivered via the following initiatives: the Management School, the Vocational School and the Digital School which operate worldwide; and local schools that respond to speciﬁc training needs in individual regions. The Management School provides ongoing training in leadership, strategy and employee management skills for executives and managers. It encourages communication of the Group’s strategic goals and strengthens its one- company culture. The Management School’s training programs include the Journey to Advanced Leadership (JAL), Journey to International Leadership (JIL), and Regional Leadership Program (RLP).
175 Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement In line with the one-company approach, the Group’s management training commitment extends across the board (regions and business divisions), including via Regional Leadership Programs, which enable a wider population of managers to become swiftly engaged in the ﬂow of change and help achieve strategic goals for their region, and therefore for the Group, thus creating a bond between local and global. The Global Professional School develops strategic technical and functional skills, aimed at fostering international networking and career development for employees with positive appraisals and people hired through global recruitment programs. The Global Sustainability Academy, which is part of the Global Professional School and aimed at all Group employees, promotes a sustainability culture within the organization and strengthens Prysmian’s commitment to implementing the ESG strategy and integrating it with business strategy. Local schools respond to contingent needs related to employees’ characteristics, local businesses, and the market in which they operate. Each school is run autonomously by the regional HR team, aligned and in synergy with the corporate team. All virtual training initiatives are delivered to the workforce via the Learning Management System (LMS), regardless of where the participants are located. This approach ensures equal access to training and encourages global participation and ﬂexible learning. In addition to facilitating the use of training content, Prysmian LMS also enables accurate tracking of in-person and remote training hours. The above activities incurred total costs of approximately €10.7 million in 2025. Similar expenditure is expected for 2026. ASSESSMENT AND MONITORING OF PAY EQUITY SCOPE OF ACTION TIME HORIZON Short term Own operations Prysmian guarantees its employees fair pay in accordance with local regulations and is committed to offering remuneration aligned with the market and industry standards. At Group level, salaries are supplemented by additional beneﬁts, including a supplementary pension, supplementary medical insurance, a personal accident policy, a company car for eligible persons, and meal vouchers or a canteen. These beneﬁts are adapted to local contexts, taking into account market characteristics and relevant regulations. In order to foster a work environment that ensures equal opportunity, inclusion and lack of discrimination, the Company supports the pay equity principle, periodically monitoring its gender pay gap. The Company has set a goal of cutting the gap to within a range of 0 to 2 percentage points by 2030, via a program built into annual action plans. IT SECURITY INTEGRITY ASSESSMENT SCOPE OF ACTION TIME HORIZON Short term Own operations
176 PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 Creating sustainable value for stakeholders also means protecting information and personal data, and guaranteeing the resilience of the digital systems that support the Group’s operating and manufacturing activities. In a situation marked by increasingly digitalized processes, highly interconnected systems and rapidly changing cyber threats, information security is key to protecting business value and continuity. In response to these challenges, Prysmian has developed an Information Security Strategy setting out clear guidelines for management, monitoring and protection of IT assets. The Strategy is backed by a comprehensive framework of policies, procedures and operating instructions as part of an organic approach to managing IT security processes. The framework is periodically revised to keep pace with developments in the related technologies, the regulatory framework, and the risk proﬁle. The information security risk management process is based on the ISO/IEC 27005 international standard and integrated into the Group’s Enterprise Risk Management system. This approach enables risks related to the conﬁdentiality, integrity, and availability of data to be systematically assessed, taking into account potential ﬁnancial, reputational, operational and legal impacts. The risk assessment is backed by a comprehensive threat assessment model (the Threat Model), which also examines emerging risks linked to the deployment of new technologies, including AI. Risks identiﬁed as unacceptable with respect to the Group’s risk proﬁle are mitigated via speciﬁc actions that are prioritized, deﬁned, and implemented depending on their risk level. Growing dependence on external suppliers for critical IT operations increases exposure to cyber risks. Prysmian takes measures to oversee and monitor the security of third-party suppliers, focusing particularly on potential impacts on business continuity and digital supply chain resilience. The Group uses performance indicators covering all areas of the security framework to assess the level of information security and provide a clear and up-to-date view of its status, thereby enabling any areas for improvement to be quickly identiﬁed. As a strategic company, Prysmian collaborates with national and international associations, consortia and institutions to share information on major cyber events. Employee awareness of cyber risks is a crucial factor in an organization’s cybersecurity. Prysmian invests in staff training through online courses and simulated cyber-attacks. These training courses, which are mandatory, cover emerging risks linked to remote working and the use of new digital technologies. These initiatives are backed by multichannel communication campaigns designed to strengthen employees’ focus and engagement regarding information security issues. Prysmian views cybersecurity and privacy regulations, which are increasingly important in a complex and rapidly changing global context, as not only a question of compliance but also a key tool in reinforcing the resilience of its systems and the robustness of its governance framework. The Group has obtained and retained several important internationally recognized certiﬁcations supporting its comprehensive, veriﬁable approach to information security. Prysmian’s total investment in cybersecurity in 2025 amounted to €510,000. LABOR UNION RELATIONS MANAGEMENT SCOPE OF ACTION TIME HORIZON Short term Own operations
177 Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement Management of labor relations is a priority activity for the Group. It aims to remedy potential negative impacts identiﬁed in the materiality assessment, especially those related to “lack of social dialogue” and “lack of freedom of association”, linked to working conditions in the Group’s own operations. Strengthening dialogue with labor union representatives and signature of speciﬁc agreements provides a concrete response to these possible impacts, helping protect workers’ rights and prevent possible critical issues. In 2025, Prysmian conﬁrmed its commitment to maintaining open and constructive dialogue with employees and their representatives, in accordance with the most advanced labor relations standards. The Group recognizes and protects the right to collective bargaining in every country in which it operates. This ensures that labor unions at every level, from local to international, are consulted in the main collective personnel management processes. This is the case for the European Works Council, which brings together labor union representatives from 27 European countries. In 2025, several agreements for contract renewals and new arrangements regarding shifts and working hours were signed with workers’ representatives in response to speciﬁc production and market needs. Few conﬂicts arose between management and labor union representatives, thanks to an effective industrial relations model that features conﬂict prevention, constructive dialogue, and responsible communication of organizational changes. SPEAK-UP SURVEY SCOPE OF ACTION TIME HORIZON Short term Own operations The Speak-up Survey, a key internal engagement tool, is among the most important means Prysmian has adopted to actively engage its people and measure their levels of engagement. Its launch provided a concrete response to various impacts and opportunities identiﬁed in the own operations materiality assessment. The survey: enables prevention and monitoring of workers’ physical and mental fatigue, a potential negative impact related to long working hours, suboptimal working conditions, and insufﬁcient rest. Via direct and anonymous feedback, the Company can detect early signs of distress, intervening with targeted actions to improve employee wellbeing and health; serves as a key tool for grasping the strategic opportunity to improve work-life balance. The survey gathers information on people’s needs and expectations regarding ﬂexibility, work organization and time management, while providing useful data for designing initiatives that increase employee retention, attract new talent and help lower recruitment costs, in line with the Group’s sustainable development goals. In this survey, all employees, including managers and workers, are invited to respond and anonymously share their views on the work environment, managerial skills, development, and their relationship with the organization. This initiative is managed in cooperation with an independent third party in order to ensure data comparability, conﬁdentiality, and consistency. Analysis of the results enables identiﬁcation of areas for development and deﬁnition of effective action plans, to be implemented via speciﬁc global and local initiatives related to continuous improvement of the work environment. Development of these initiatives concentrated on: Human capital management practices, with a special focus on remuneration, recognition, training and development issues; The organizational and work environment, including projects related to collaboration, inclusion, the employee experience, and employee health and wellbeing;
178 PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 Greater strategic alignment, and strengthening of managerial leadership and trust within teams. New tools for organizational communication and listening to people were initiated speciﬁcally for this purpose. The 2025 Speak-Up survey, launched in September, was the largest listening initiative ever carried out by Prysmian, in terms of both coverage of the organization and participation. The global response rate of over 80% was the highest ever achieved by the Group and beat the benchmark used by Gallup, Prysmian’s new partner for the Speak-Up survey in the manufacturing sector. This outcome conﬁrms high levels of engagement and trust in the survey among personnel, also taking into account the signiﬁcant expansion of the survey’s scope and the integration of recent acquisitions. The overall results show a solid level of engagement, with Prysmian ranking in the second tier of the Gallup Manufacturing benchmark. The Leadership Impact Index was broadly in line with the results for 2023, despite the increased number of people involved, providing evidence of the leadership model’s consistency and stability over time. Structural differences remain between desk and non-desk workers, reﬂecting the nature of manufacturing operations. Key strengths include clarity of expectations, the sense of being part of a team, and the opportunity to do what people do best every day. Areas for improvement regard above all the quality of feedback, recognition for individual contributions and the development of a more empathetic and inclusive leadership style. These areas will be the primary focus of future action plans and in the planning of leadership development programs. The results reporting phase, which took place in December 2025 at global, regional and site levels, is the starting point for deﬁning team action plans. This process is supported by a management training program, consisting of grounding sessions and a series of webinars devoted to the topics of engagement and teamwork. A total of approximately 3,000 colleagues participated in these initiatives, with the aim of providing useful tools for interpreting data, holding comprehensive discussions with teams, and planning targeted continuous improvement initiatives. EMPLOYEE STOCK OWNERSHIP PLANS SCOPE OF ACTION TIME HORIZON Short term Own operations Participation in sustainable value creation over time is open to all employees via the Value4All program, consisting of equity-based plans that enable personnel to become long-term shareholders: YES, BE IN and GROW. The implementation of employee stock ownership plans is Prysmian’s concrete response to various impacts and opportunities identiﬁed in the own operations materiality assessment. Speciﬁcally, these tools help: Promote equal treatment and opportunity for all, by offering a wide and diverse range of employees the opportunity to participate directly in the creation of value, in line with the positive impact of efforts to upskill personnel and promote a safer and more respectful work environment; Counter the risk of inadequate wages, by offering employees an additional means of improving their ﬁnancial rewards and sharing in the Company’s proﬁts, in response to the potential negative impact related to working conditions and wellbeing. Via the Value4All program, Prysmian aims to increase employee participation, engagement, sense of belonging and comprehension of the business. The program aims to bring together the interests of shareholders, customers, and employees in the long term, while strengthening the internal perception of Prysmian as a single, cohesive company.
179 Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement 2025 marked the twelfth year for the Company’s discounted stock purchase plan, YES. The BE IN plan was launched in 2022, with the allocation of up to 3,000,000 shares. The main goal of the BE IN plan is to share the value Prysmian creates with a broad employee base, primarily comprising non-desk workers. Employees can join the plan on a voluntary basis, unless otherwise stipulated in any agreements with labor organizations, by opting to receive a 15 The baseline was deﬁned by analyzing trends over the past three years, from which a different injury severity rate reduction target was set for each region. portion of their monetary bonus, or productivity bonus, in the form of an equivalent amount in shares. After necessary adjustment, the plan can also be activated in the absence of pre-existing collective monetary incentives, where required. In 2025, the local management of many plants and Group afﬁliates negotiated and reached agreement with local work councils and labor unions on implementation of the plan. Targets Prysmian’s targets are in line with the Group’s social and health and safety policies applied to its own workforce. H&S KPIs 2025 results 2025 minimum target 2025 maximum target Lost time injury severity rate 15 48.21 57.00 53.00 SOCIAL KPIs 2022 baseline 2025 results 2025 target 2028 target % of female desk workers hired, out of total employee hires 44.9% 48.4% 46%-48% – % of women executives 15.7% 22.6% 20%-23% 25% % of employees who are long-term shareholders via equity-based plans 37% 50% 44%-45% >50%
180 PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 Health and safety targets Reduction in the lost time injury severity rate For 2025, the Company’s objective was to reduce its lost time injury severity rate. The lost time injury severity rate is calculated as the number of days lost due to injuries in the reporting period 16 /hours worked * 200,000, Beyond the sheer number of injuries that have occurred, the lost time injury severity rate sheds light on whether improvements are being made at Group level in terms of injury seriousness. In 2025, a Group target of 57.00 (minimum) and 53.00 (maximum) was set, which was included in the Management By Objectives (MBO) remuneration scheme. Human resources targets The following KPIs refer to Prysmian Group employees, which, since the end of 2022, have been integrated into the three-year Impact Scorecard (2023-2025), with a 2022 baseline. All key stakeholders are actively involved in the setting, monitoring and achievement of targets, especially the workforce and legitimate workers’ representatives. For more information on the Scorecard, see section ESRS 2. Percentage of female desk workers hired The set target is to achieve a certain share of women hired as permanent desk workers, out of the total number of desk workers hired on permanent contracts. This indicator includes desk workers hired externally and conversions from ﬁxed-term or agency contracts to permanent contracts 17 . The KPI has a 2022 baseline of 44.9%, with achievement of a target ranging between 46% and 48% by 2025. The KPI ﬁgure for the current reporting period is 48.4%. 16 Including relapses and Carryover days, (i.e., days lost in the reporting period due to injuries that occurred in previous years, are included). 17 It should be noted that the KPI perimeter excludes: a) localization cases; b) cases where an employment contract is terminated in one company and the individual is subsequently rehired by another company within the Group; c) employees whose employment ends in the same month in which they were hired. Percentage of women executives The KPI refers to the number of women executives as a share of the total number of executives employed. The KPI demonstrates the Group’s ability to promote people to leadership roles from within the organization, as well as to hire them in the market, in addition to its ability to retain talent. The 2022 baseline was 15.7%, while the ultimate target has been set at between 20% and 23% by 2025. The current KPI ﬁgure for 2025 is 22.6%. The target is based on data from the Group’s personnel management systems. Percentage of employees who are long-term shareholders via equity plans This KPI reﬂects the Company’s commitment to promoting the engagement and inclusion of its people, aligning the long-term interests of stakeholders and employees. It measures the number of employees holding Prysmian shares via the GROW, YES and BE IN plans as of December 31, divided by the total number of employees eligible to participate in at least one of the plans. The initial target for 2025 was to reach between 44% and 45% of employee shareholders, starting from a baseline of 37% recorded in 2022. The measurement of this target is based on data from the Group’s personnel management systems and related to shares managed by its Plan Administrators. The target was already surpassed in 2024, with 46% of employees having joined the equity plan. On Capital Markets Day, held on March 26, 2025, Prysmian announced a new target of >50% for 2028, in line with the new four-year strategic plan. The current KPI ﬁgure for 2025 is 50%. The value excludes the employees of companies acquired during the year and those who were not eligible to participate in equity plans in 2025.
181 Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement Commitments on diversity, equity and inclusion issues by 2030 Prysmian has set the following commitments to be achieved by 2030: Gender equality – 25% women in the total workforce – More than 500 women hired in a dedicated STEM program – 0-2% pay gap among desk workers Upskilling and engagement – 40 hours per person per year of experiential learning for all employees – Over 25% of employees involved in mobility/ growth initiatives each year – Engagement survey response rate over 80% – Leadership Impact Index improved to 70- 80% Racial and ethnic inclusion – More than 30% of managers from underrepresented nationalities/ethnicities/ origins – Local mentoring programs for 500 students from poor and minority backgrounds. Corporate Security commitments In 2026, the Corporate Security team plans to: Establish worldwide coverage of technological systems for monitoring travel data and assistance and emergency services that beneﬁt employees on business trips (as referred to in the abovementioned trial phase), in collaboration with the Health, Safety and Environment and Insurance teams. These systems assess the proximity of employees on business trips to places affected by serious events or crises and ensure the prompt provision of assistance or emergency management when necessary. Approximately €80,000 has been set aside for this activity in 2026: Continue worldwide introduction of risk analysis and assessment activities based on security tools and criteria, within the third- party assessment process, in collaboration with the Compliance and Procurement teams, to raise the level of risk mitigation arising from interaction with third parties. This expansion will be implemented via acquisition of suitable information and analytical tools and regulated through issuance of speciﬁc procedures. Approximately €100,000 has been set aside for this activity in 2026. Implement worldwide coverage of training activities related to awareness of security risks and knowledge of mitigation measures (in preventive and protective terms), as well as behaviors to be adopted and tools that are available if needed, especially by creating and deploying digital training tools. Courses on travel security risks, gender-based violence risk, and security procedures, tools and behaviors will be prepared and made available to employees. Approximately €30,000 has been set aside for this activity in 2026. Implement the team’s organizational structure, as envisaged in the Corporate Security Policy, creating and strengthening specialized skills at central level; enabling oversight of the security management system and performance of the most sensitive and critical activities; and identifying – based on actual needs and risk exposures – speciﬁc local personnel or members of other teams to provide operational points of contact.
182 PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 Health and safety metrics ESRS S1-14 Health and safety metrics Employees Non-employees Total 2025 88. (a) Percentage of people in the workforce who are covered by the Company’s health and safety management system based on legal requirements and/or recognized standards or guidelines 85% 91% 86% 88. (b) Number of fatalities as a result of work-related injuries 0 0 0 88. (b) Number of fatalities as a result of work-related ill health 0 0 0 88. (c) Number of work-related injuries (LTI; RWC; MT) 550 64 614 Hours worked 62,991,780 5,192,823 68,184,604 88. (c) Rate of recordable work-related injuries 8.73 12.32 9.00 Employees Non-employees Total 2025 88. (d) Number of cases of recordable work-related ill health, subject to legal restrictions on the collection of data 23 1 24 88. (e) Number of days lost to work-related injuries and fatalities from work-related accidents 14,610 1,826 16,436 ESRS S1-14 Health and safety metrics Employees Non-employees Total 2024 88. (a) Percentage of people in its own workforce who are covered by the undertaking’s health and safety management system based on legal requirements and/or recognized standards or guidelines; 82% 91% 83% 0 0 0 88. (b) Number of fatalities as a result of work-related injuries and work-related ill health. 0 0 0 88. (c) Number of work-related injuries (LTI; RWC; MT); 556 55 611 Hours worked 58,874,497 3,946,656 62,821,153 88. (c) Rate of recordable work-related accidents 9 14 10 Employees Non-employees Total 2024 88. (d) Disclose the number of cases of recordable work-related ill health, subject to legal restrictions on the collection of data; 23 – 23 88. (e) Number of days lost to work-related injuries and fatalities from work-related accidents, work-related ill health and fatalities from ill health 17,441 950 18,391
183 Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement Human resource management metrics Metrics related to the characteristics of the Company’s employees (no.) Women Men Other Not disclosed Total 2025 50. (a) Total employees 6,845 25,751 9 3 32,608 50. (b) Permanent employees 6,707 25,076 9 3 31,795 50. (b) Temporary employees 138 675 0 0 813 50. (b) Non-guaranteed hours employees 0 0 0 0 0 Women Men Other Not disclosed Total 2024 50. (a) Total employees 6,751 25,785 7 3 32,546 50. (b) Permanent employees 6,637 25,210 7 3 31,857 50. (b) Temporary employees 114 575 0 0 689 50. (b) Non-guaranteed hours employees 0 0 0 0 0 The methodology used for total employees is the headcount at the end of the period (December 2025). A breakdown by country is shown in the table below: Country Total HC 2025 Total HC 2024 Angola 68 60 Argentina 281 305 Australia 647 658 Brazil 1,904 2,003 Canada 720 742 Chile 294 317 China 1,467 1,546 Colombia 344 306 Costa Rica 310 295 Czech Republic 387 374 Ivory Coast 95 95 Estony 182 177 Finland 812 700 France 2,493 2,455 Germany 2,027 2,014 Hungary 487 498 India 74 80 Indonesia 202 206 Italy 2,765 2,631 Malaysia 211 225 Mexico 1,748 2,054 Norway 127 134 Netherlands 809 794 Oman 848 820 Philippines 61 195 Continue >>
184 PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 Country Total HC 2025 Total HC 2024 Portugal 188 193 Romania 1,319 1,337 Russia 290 255 Singapore 95 94 Slovakia 329 342 Spain 1,321 1,247 Sweden 219 207 Thailand 143 149 Tunisia 356 196 Turkey 546 579 UK 948 997 USA 7,324 7,094 Other 167 172 32,608 32,546 This table shows the number of employees who have left the undertaking: Characteristics of the Company’s employees (50. c.) Total 2025 Total 2024 Number of employees 32,608 32,546 50. (c) Number of employees who have left 5,801 5,209 50. (c) Rate of employee turnover (%) 18% 16% Turnover is calculated as the number of employees who voluntarily or involuntarily left Prysmian in 2025, compared with the total number of employees as of December 31, 2025. Characteristics of non-employees who are part of the Company’s workforce Total 2025 Total 2024 55. (a) Total number of non-employees 2,472 2,185 55. (a) of which self-employed workers 0 0 55. (a) of which workers provided by employment agencies 2,472 2,185 >> Continue
185 Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement Non-employees include internships and apprenticeships, and people supplied by enterprises primarily engaged in the “recruitment, selection and provision of staff” (NACE code N78). The methodology used for calculation is the headcount as of December 31, 2025. Coverage of collective bargaining and social dialogue Total 2025 Total 2024 Employees covered by collective bargaining agreements 20,200 20,034 Number of employees 32,608 32,546 60. (a) Percentage of its total employees covered by collective bargaining agreements; 62% 62% Number of employees covered by workers’ representatives 13,520 13,134 Number of employees (EEA) 13,520 13,134 63. (a) Percentage of employees covered by workers’ representatives 100% 100% 63. (b) In relation to social dialogue, the undertaking shall disclose information about the existence of any agreement with its employees for representation by a European Works Council (EWC), a Societas Europaea (SE) Works Council, or a Societas Cooperativa Europaea (SCE) Works Council. Prysmian periodically renews the founding agreement of the European Works Council (EWC) with the trade union representatives of the majority of its European factories. The aim is to encourage the improvement of the Group’s activities through the involvement of employees in decision making processes. The latest agreement establishes that the Council is composed of 27 trade union representatives from all European countries where Prysmian operates. The presence of an executive body (the Select Committee) within the European Works Council has also been conﬁrmed; it is made up of seven members elected by the 27 members of the General Committee. There were no signiﬁcant changes related to collective bargaining coverage compared with the previous year. Collective bargaining coverage Social dialogue Coverage percentage 60) b. Employees - In the EEA (for countries with >50 employees accounting for >10% of total employees) 60) c.Employees - Outside the EEA (estimate for countries with >50 employees accounting for >10% of total employees) 63. (a) Employee representation (EEA only) (for countries with >50 employees) 0-19% 20-39% 40-59% NORAM, EMEA (outside EEA) 60-79% 80-100% The breakdown by country is not applicable; see the comments provided below. LATAM The breakdown by country is not applicable; see the comments provided below. Comments 60 b) None of Prysmian’s EEA countries meets the criterion of having more than 50 employees representing over 10% of total employees; therefore, the country-level breakdown does not apply. 60 c) Only the geographic areas NORAM, LATAM and EMEA (outside the European Economic Area) meet the criterion of having more than 50 employees representing over 10% of total employees; therefore, the breakdown by geographic area is provided only for these regions. 63 a) None of Prysmian’s EEA countries meets the criterion of having more than 50 employees representing over 10% of total employees; therefore, the country-level breakdown does not apply.
186 PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 Diversity metrics (66. a, AR 71) – gender distribution at top management level Diversity metrics (66. a, AR. 71) - gender distribution at top management level Total 2025 % Total 2024 % Women 10 22% 7 16% Men 35 78% 38 84% Other 0 0% 0 0% Not disclosed 0 0% 0 0% Total top management 45 100% 45 100% AR 71. Disclose the deﬁnition of top management used Grade 24 and above (Korn-Ferry Hay methodology) SOCIAL KPIs UNIT OF MEASUREMENT 2025 2024 Percentage of female desk workers hired % 48.4 47.5 Percentage of women executives % 22.6 19.2 Diversity metrics (66. b) – employees by age ≤30 years old 30-50 years old >50 years old Total 2025 Number Executives 1 221 229 451 Managers 164 2,026 1,073 3,263 Employees 1,112 2,596 1,355 5,063 Workers 4,385 12,356 7,090 23,831 Total 5,662 17,199 9,747 32,608 Percentage Executives 0% 0.68% 0.70% 1.38% Managers 0.50% 6.21% 3.29% 10.01% Employees 3.41% 7.96% 4.16% 15.53% Workers 13.45% 37.89% 21.74% 73.08% Total 17.36% 52.74% 29.89% 100%
187 Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement ≤30 years old 30-50 years old >50 years old Total 2024 Number Executives – 211 238 449 Managers 169 1,941 1,076 3,186 Employees 1,029 2,661 1,408 5,098 Workers 4,399 12,405 7,009 23,813 Total 5,597 17,218 9,731 32,546 Percentage Executives 0% 0.65% 0.73% 1.38% Managers 0.52% 5.96% 3.31% 9.79% Employees 3.16% 8.18% 4.33% 15.66% Workers 13.52% 38.12% 21.54% 73.17% Total 17.20% 52.90% 29.90% 100% Adequate wages All Prysmian employees receive adequate wages, in line with applicable benchmarks. Within the European Economic Area (EEA), the benchmark corresponds to the minimum wage set in accordance with Directive (EU) 2022/2041 of the European Parliament and of the Council on adequate minimum wages in the European Union. Outside the EEA, the benchmark corresponds to the various wage levels set by existing international, national or sub-national legislation, ofﬁcial regulations or collective agreements, as per the Fair Wage Network database, which conﬁrms the preeminence of collective bargaining for the purpose of deﬁning employment terms and conditions. In 2024, Prysmian partnered with the Fair Wage Network, which gives access to global data that enables assessment of compliance with an adequate wage level calculated using a speciﬁc methodology. Social protection 2025 2024 Social protection Employees Employees 74. Social protection coverage of own employees, through public programs or beneﬁts offered by the undertaking on occurrence of any of the following events: 74. (a) sickness; All employees are covered All employees are covered 74. (c) employment injury and acquired disability; All employees are covered All employees are covered 74. (d) parental leave; All employees are covered All employees are covered 75., 76. Employees not covered by social protection on occurrence of the following events: 75. Unemployment starting from when the employee is working for the undertaking All employees in these countries: Hong Kong, India, Oman (non-Omanis only), Malaysia, Ivory Coast, Angola and Singapore All employees in these countries: Hong Kong, Costa Rica, India, Oman, Malaysia, Ivory Coast, Angola and Singapore 75. Retirement All employees in Malaysia All employees in Malaysia
188 PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 Training and skills development metrics (83. A, 84) Training and skills development metrics (83. a) Total 2025 Number of employees that participated in regular reviews Number of regular reviews Number of employees Percentage of employees that participated in regular reviews Number of regular reviews conducted per employee Women 2,757 2,757 6,845 40.3% 1.0 Men 5,061 5,061 25,751 19.7% 1.0 Other 2 2 9 22.2% 1.0 Not disclosed 2 2 3 66.7% 1.0 Total 7,822 7,822 32,608 23.9% 1.0 Training and skills development metrics (83. a) Total 2024 Number of employees that participated in regular reviews Number of regular reviews Number of employees Percentage of employees that participated in regular reviews Number of regular reviews conducted per employee Women 2,629 2,629 6,751 38.9% 1.0 Men 4,947 4,947 25,785 19.2% 1.0 Other 2 2 7 28.6% 1.0 Not disclosed 1 1 3 33.3% 1.0 Total 7,579 7,579 32,546 23.3% 1.0 There are no signiﬁcant changes related to training and skills development metrics compared with the previous year.
189 Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement Training and skills development metrics Total 2025 Number of training hours Aveage hours of training Women 259,547 38 Men 953,819 37 Other 297 43 Not disclosed 19 7 Total 1,213,683 37 Total 2024 Number of training hours Aveage hours of training Women 273,423 43 Men 934,429 38 Other 241 25 Not disclosed 91 46 Total 1,208,184 39 Work-life balance metrics Work-life balance metrics Women Men Other Not stated Total 2025 94. If all the undertaking’s employees are entitled to family leave under social policy agreements and/or collective bargaining, it is sufﬁcient to report this to meet the requirement of paragraph 93a. Number of employees eligible for family leave: Maternity, paternity, parental leave 6,845 25,751 9 3 32,608 Caregivers' leave 5,094 21,631 9 3 26,737 Number of employees who have taken family leave: Maternity, paternity, parental leave 419 818 0 0 1,237 Caregivers' leave 89 348 0 0 437 93. a) Percentage of workers eligible for family leave Maternity, paternity, parental leave 100% 100% 100% 100% 100% Caregivers' leave 74% 84% 100% 100% 82% 93. b) Percentage of eligible workers who have taken family leave Maternity, paternity, parental leave 6.1% 3.2% 0% 0% 3.8% Caregivers' leave 1.8% 1.6% 0% 0% 1.6% Comments All Prysmian employees are entitled to a minimum number of maternity, paternity, and parental leave days according to the Global Parental Policy. With regard to caregiver leave, Prysmian applies local legislation.
190 PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 Work-life balance metrics Women Men Other Not stated Total 2024 94. If all the undertaking’s employees are entitled to family leave under social policy agreements and/or collective bargaining, it is sufﬁcient to report this to meet the requirement of paragraph 93a. Number of employees eligible for family leave: Maternity, paternity, parental leave 6,751 25,785 7 3 32,546 Caregivers' leave 4,964 21,365 7 3 26,339 Number of employees who have taken family leave: Maternity, paternity, parental leave 393 841 0 0 1,234 Caregivers' leave 119 430 0 0 549 93. (a) Percentage of workers eligible for family leave Maternity, paternity, parental leave 100% 100% 100% 100% 100% Caregivers' leave 73.5% 82.9% 100% 100% 80.9% 93. b) Percentage of eligible workers who have taken family leave Maternity, paternity, parental leave 5.8% 3.3% 0% 0% 3.8% Caregivers' leave 2.4% 2.0% 0% 0% 2.61 Comments All Prysmian employees are entitled to a minimum number of maternity, paternity and parental leave days in accordance with the Global Parental Policy. With regard to caregiver leave, Prysmian applies local legislation. There were no signiﬁcant changes related to work-life balance metrics compared with 2024. Remuneration metrics Remuneration metrics Average gross hourly wage Women Men Total 2025 18.99 EUR 20.38 EUR 97. (a) Gender pay gap 2025 -6.82% Total 2024 18.85 EUR 20.72 EUR 97. (a) Gender pay gap 2024 -9.03% Optional - variable and supplementary components 2025 2024 Annual total remuneration for the highest paid individual in the organization 4,015,267 EUR 2,681,461 EUR Median annual salary for all employees, excluding the highest paid individual 35,847 EUR 34,911 EUR 97. (b) Ratio between the annual total remuneration of the highest paid individual and the median annual total remuneration for all employees (excluding the highest paid individual) 112 76.81
191 Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement Concerning the gender pay gap, in compliance with the sustainability reporting principles set by the European Union’s delegated regulation 2023/2772 dated July 31, 2023, and pursuant to the S1-16 disclosure requirements therein, the Company reports that the unadjusted gender pay gap is 6.82%. Workers at Prysmian S.p.A. and its subsidiaries, who are directly or indirectly under an employment contract, were included in the calculation of the average full-time equivalent wage 18 . In the course of 2024, Prysmian entered into a collaboration with a specialized company and has adopted a platform (Pay Eq by Syndio) aimed at enriching analyzes, deeper exploration of the reasons behind the observed differences, and easier monitoring of the gender pay gap. In 2025, the adjusted gender pay gap of the Desk Workers stood at an overall average value of 2.9%. Among its social targets, Prysmian has committed to bringing the gap down to within a range of 0-2 percentage points by 2030, via a program consisting of annual action plans. 18 To determine gross hourly wages, gross annual remuneration as at December 31, 2025, plus variable components (production bonuses, MBO and LTI plans) related to the relevant year were taken into account, in accordance with best estimates where data was unavailable, and excluding non-recurring items and social security charges. Total remuneration includes the IFRS 2 value of equity-based plans. The ﬁgures, expressed in euros, reﬂect widely varying remuneration, given the different geographies and economies in which the Company operates and related exchange rate volatility. In 2025, the ratio of the annual total remuneration (ﬁxed pay, plus variable annual and long-term components) of the Group Chief Executive Ofﬁcer compared with the median annual total remuneration of Group employees at global level was 112:1. The difference between the annual total remuneration of the Chief Executive Ofﬁcer in 2025 compared with 2024 was 50%. The 2025 values differ signiﬁcantly from the 2024 values. This is also due to the fact that, in line with the characteristics of its long-term incentive plan, the IFRS2 values included in Total compensation for 2025 – the last year of the vesting period, are signiﬁcantly higher than the values reported in the ﬁrst and second years of the vesting period (2023 and 2024).
192 PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 Incidents, alerts and severe human rights impacts Incidents, alerts and severe human rights impacts Total 2025 Total 2024 103. (a) Number of work-relatd incidents of discrimination reported in the reporting period Gender 4 2 Racial or ethnic origin 5 3 Nationality 1 0 Religion or belief 0 1 Disability 1 2 Age 1 1 Sexual orientation 2 0 Harassment 1 4 Other relevant forms of discrimination 3 11 Total 18 24 103. (b) Number of complaints ﬁled through channels for people in the undertaking’s own workforce to raise concerns (including grievance mechanisms) 234 174 103. (b) where applicable, to the National Contact Points for OECD Multinational Enterprises related to the matters deﬁned in paragraph 2 of this Standard, excluding those already reported in (a) above; n.a. n.a. 103. (c) Total amount of ﬁnes, penalties, and compensation for damages as a result of the incidents and complaints 0 0 103. (c) Provide a reconciliation of such monetary amounts disclosed with the most relevant amount presented in the ﬁnancial statements; and n.a. n.a. 103. (d) Where applicable, contextual information necessary to understand the data and how such data has been compiled. n.a. n.a. 104. (a) Number of severe human rights incidents connected to the undertaking’s workforce in the reporting period: Cases of non-respect of the UN Guiding Principles on Business and Human Rights 0 0 Cases of non-respect of ILO Declaration on Fundamental Principles and Rights at Work 0 0 Cases of non-respect of OECD Guidelines for Multinational Enterprises 0 0 Total 0 0 104. (a) If no severe human rights incidents connected to the undertaking’s workforce have occurred, the undertaking shall state this. No severe cases of HR incidents in FY25 No severe cases of HR incidents in FY24 104. (b) Total amount of ﬁnes, penalties and compensation for damages for the incidents described. 0 0 104. (b) Provide a reconciliation of the monetary amounts disclosed in the most relevant amount in the ﬁnancial statements. n.a. n.a. Prysmian did not identify any cases of human rights incidents among its workforce during the reporting period in question.
193 Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement Other metrics 19 It should be noted that this indicator was introduced in 2025 compared to what was reported in 2024. It represents a new metric adopted in replacement of the LTFI indicator used in the previous reporting period. 20 Courses delivered to non-desk /desk /newly hired workers regarded data security issues, such as phishing, cyber hygiene, and non-disclosure of data. 21 Average time between opening of a case and resolution of vulnerabilities/incidents reported by hardware and software suppliers. A high-risk vulnerability is an event that can signiﬁcantly impact a plant/production line, a core company system, or sensitive data. 22 Percentage of evidence of activities and audits (logs) carried out by business assets that are collected and analyzed using SIEM solutions. SIEM: Security software that enables recognition of potential threats and security vulnerabilities before they have a chance to disrupt operations. 23 Number of security incidents handled during the year that are related to attacks, threats or malfunctions. 24 Ratio of cyber-attacks to total security incidents. 25 Average time between opening of a case and closure of the forensic investigation phase (one of the critical phases of security incident management). H&S KPIs - ENTITY SPECIFIC 19 UNIT OF MEASUREMENT 2025 2024 Lost time injury severity rate Rate 48.21 58.55 SOCIAL KPIs - ENTITY SPECIFIC UNIT OF MEASUREMENT 2025 2024 Employee shareholders % 50 46 IT security training courses 20 no. 27 27 Average resolution time for high-risk vulnerabilities 21 weeks 15 13 Log sources integrated with the Security Information and Event Management (SIEM) solution 22 % 89 89 Security incidents 23 no. 675 1,286 Percentage of cyber-attacks compared with total security incidents 24 % 2 2 Average time for completion of post-incident forensic activities 25 hours 4 4 Percentage of employee shareholders This KPI indicates the number of employees who hold Prysmian shares held in the Company’s administrative accounts through the GROW, YES and BE IN plans as at December 31, divided by the total number of employees eligible to participate in at least one of the plans under the relevant terms and conditions. The metric is not validated by an external body, although it was identiﬁed by the Group on an optional basis in order to measure the value of employee engagement in value creation. Cybersecurity Measurement and monitoring of cybersecurity performance is key to assessing the effectiveness of the measures adopted and supporting continuous improvement of the Group’s security posture. Prysmian uses a comprehensive range of performance and risk indicators (KPIs and KRIs) to monitor potential negative impacts on the workforce, operational processes and the business resulting from cybersecurity events.
194 PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 The metrics used cover various areas of the Security team, including training and employee awareness, ability to prevent and detect threats, effectiveness of incident and vulnerability management processes, and the timeliness of the response and post-incident forensic analysis. Together, these indicators provide an objective assessment of the level of maturity and resilience of the Group’s cybersecurity management. The methodologies used for measuring and monitoring metrics are described, documented, and posted in the Cybersecurity section of the Company’s intranet. A comprehensive set of KPIs and KRIs is periodically updated and communicated to the internal Information Security Committee and the teams involved, to support decision-making and risk supervision. While the adopted methodologies are comprehensive and detailed, they do have some inherent limitations, including the possibility that minor security incidents may go undetected. These aspects are regularly monitored and addressed via a continuous improvement process that involves the periodic review of methodologies and indicators, with the aim of ensuring their alignment with industry best practices and developing threats. The metrics (KPIs and KRIs) Prysmian uses to measure the performance of the Security team are validated externally by an accredited third- party certiﬁcation body, via the certiﬁcation maintenance process for ISO 27001:2022. This ensures compliance with applicable international standards and ensures a rigorous and comprehensive approach to measuring, monitoring and assessing cybersecurity performance.
195 Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement
ESRS S2 – WORKERS IN THE VALUE CHAIN
198 PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 S2 – WORKERS IN THE VALUE CHAIN Governance Prysmian adopts sound and integrated governance to ensure respect for workers’ rights throughout the value chain. These issues are overseen by the Sustainability Committee, which receives periodic reports from the relevant corporate functions on progress toward targets achieved and the effectiveness of actions taken. At the operational level, a cross-functional team – including representatives from the Investor Relations, Procurement, Sustainability, Sales and Compliance teams – is responsible for implementing the Company’s policies and due diligence activities related to suppliers and other business partners. The two teams directly responsible for engaging value chain workers are: the Procurement team (upstream); the Sales team (downstream). In 2025, Prysmian further enhanced internal audit systems and strengthened whistleblowing channels, thus contributing to transparent governance geared toward preventing the most serious impacts, especially in high-risk settings or where vulnerable workers are present. Strategy Prysmian’s strategy for protecting workers in the value chain is based on systemic integration of human rights, and the principle of decent work in procurement processes and management of suppliers and partners. In 2025, Prysmian continued to implement a risk-based due diligence approach, aimed at identifying, preventing and mitigating potentially negative impacts on workers throughout the supply chain. In analyzing workers in the value chain, speciﬁc attention was focused on the categories most exposed to health and safety risks, as well as on failure to respect human rights and implement sustainable practices throughout the supply chain. This involved: workers involved in mining metals, minerals or raw materials, or in logistics and distribution activities, who are often subjected to hazardous and unsafe environmental conditions; workers engaged in installation, such as cable-layers, who are exposed to hazards related to the work environment (e.g., working at height, handling heavy equipment, electrical hazards); workers who are considered vulnerable due to personal or social characteristics, including migrants, women, youths, labor unionists or remote workers. Prysmian recognizes that mining activities in some regions, such as Asia, can be associated with untenable working conditions, including forms of child or forced labor, which are often linked to lack of legal protections in countries of origin. Such situations are a violation of fundamental rights, and also generate negative economic impacts, involving low pay that does not guarantee adequate livelihoods. The Group’s strategy aims to build a resilient, ethical and sustainable value chain that protects workers at every stage of production and promotes respectful, safe and inclusive working conditions. As a result, the Group believes it is extremely important to assess social aspects. .
199 Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement Identiﬁcation of IROs related to workers in the value chain Sub-topic Sub-sub-topic Impact Positioning in the value chain Positive/ negative Actual/ potential Time horizon Working conditions Health and safety Potential exposure to occupational health and safety impacts Upstream, Downstream Potential Short term Secure employment Inadequate worker protection and rights violations in the value chain, due to reliance on subcontractors and complex supply networks Upstream Potential Short term Freedom of association, including the existence of works councils Lack of workers' rights protection in the value chain Upstream, Downstream Potential Short term Equal treatment and opportunities for all Gender equality and equal pay for work of equal value Inequality for workers in the value chain Upstream, Downstream Potential Medium term Training and skills development Development of skills to strengthen the value chain Upstream Actual Medium/long term Other work- related rights Child labor Child labor in the value chain Upstream, Downstream Potential Short term Working conditions Working time Lack of guaranteed working hours for value chain workers Upstream, Downstream Potential Short term Other work- related rights Forced labor Forced labor in the value chain Upstream, Downstream Potential Short term Continue >> Financial Materiality Not material 2 = Financial materiality threshold Material Not material 2.5 = Impact materiality threshold Material Impact Materiality S2 - Workers in the value chain Working conditions S2 - Workers in the value chain Equal treatment and opportunities for all Other work-related rights
200 PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 Sub-topic Sub-sub-topic Impact Positioning in the value chain Positive/ negative Actual/ potential Time horizon Working conditions Adequate wages Lack of adequate remuneration in the value chain Upstream, Downstream Potential Short term Social dialogue Management of working conditions in the value chain Upstream, Downstream Potential Long term Equal treatment and opportunities for all Diversity Lack of equal treatment Upstream Potential Short term Sub-topic Sub-sub-topic Risk Positioning in the value chain Time horizon Current ﬁnancial effect Working conditions Health and safety Risk of health and safety issues along Prysmian's value chain (such as injuries), due to failure to foster an HSE culture in the work environment, resulting in legal costs, damage awards and/ or potential reputational damage Upstream, Downstream Medium term N/A Other work- related rights "Child labor Forced labor" Lack of respect for human rights and sustainable practices throughout the supply chain, resulting in the risk of litigation, payment of ﬁnes/ sanctions and/ or reputational damage Upstream Medium term N/A The double materiality assessment revealed potential negative impacts on workers in the value chain, especially in upstream and downstream activities, related to health and safety issues, possible violation of fundamental rights, and often inadequate protections in supply chain partners’ production sites. Forced labor, child labor, lack of guaranteed working hours, lack of adequate pay, and inequal treatment were identiﬁed as potential signiﬁcant impacts within Prysmian’s value chain. The Company deploys a robust due diligence process to prevent such impacts, especially in areas where raw materials are extracted from mines located in India, Afghanistan, the Democratic Republic of Congo and Latin America, in line with its commitments to sustainability and human rights. The risks emerging from the assessment, related to health and safety and human rights compliance issues in the supply chain, are primarily classiﬁed as potential and medium- term. This conﬁrms the need to strengthen due diligence systems, improve supplier monitoring and social performance management, and adopt preventive measures to mitigate impacts on people. Prysmian takes a systemic and integrated approach to worker engagement throughout the value chain, with a focus on the actual and potential impacts that affect them. Suppliers are mainly managed by the Group Procurement team and its regional and local teams. This team is responsible for implementing corporate policies and due diligence activities related to suppliers and business partners. Prysmian constantly strengthens internal audit systems Positive impact Negative impact >> Continue
201 Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement and whistleblowing channels, thereby promoting transparent governance geared toward preventing the most serious impacts, especially in high-risk settings or where vulnerable workers are present. Supplier management is based on integrating human rights and the principle of decent work into procurement processes. This requires taking a risk-based due diligence approach to identify, 26 The policies, actions, and targets described in the table have been linked to the IROs identiﬁed in the double materiality assessment, and there is no systematic direct connection between the actions, policies, and targets. 27 For details on the HSEE Policy, see section "ESRS S1 - Own Workforce" in this document. 28 For details on the Human Rights Policy, see section "ESRS S1 - Own Workforce" in this document. prevent and mitigate negative impacts on workers. Prysmian also has procedures in place for informing and consulting workers’ representatives, which ensures their engagement in discussing and verifying information on sustainability and impacts that directly affect them. This takes place through dedicated workshops, events and meetings. Material IRO management procedures IRO 26 Policy Action Target I - Potential exposure to occupational health and safety impacts HSEE Policy 27 Human Rights Policy 28 Human rights due diligence Participation in the Copper Mark Initiative Supplier Engagement Program Maintain (minimum target) / increase (maximum target) the number of sustainability audits in the supply chain I - Inadequate worker protection and rights violations in the value chain, due to reliance on subcontractors and complex supply networks Code of Ethics Human Rights Policy Code of Business Conduct Conﬂict Minerals Policy Helpline Policy and whistleblowing platform Human rights due diligence Participation in the Copper Mark Initiative Supplier Engagement Program Maintain (minimum target) / increase (maximum target) the number of sustainability audits in the supply chain I - Lack of workers' rights protection in the value chain I - Inequality for workers in the value chain I - Development of skills to strengthen the value chain 2025 Supplier Conference I - Child labor in the value chain Code of Ethics Human Rights Policy Code of Business Conduct Conﬂict Minerals Policy Helpline Policy and Procedure and whistleblowing platform Human rights due diligence Participation in the Copper Mark Initiative Supplier Engagement Program Maintain (minimum target) / increase (maximum target) the number of sustainability audits in the supply chain I - Lack of guaranteed working hours for value chain workers I - Forced labor in the value chain I - Lack of adequate remuneration in the value chain I - Management of working conditions in the value chain I - Lack of equal treatment Continues >>
202 PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 IRO 26 Policy Action Target R - Risk of health and safety issues along Prysmian's value chain (such as injuries), due to failure to foster an HSE culture in the work environment, resulting in legal costs, damage awards and/or potential reputational damage HSEE Policy Human Rights Policy Human rights due diligence Supplier Engagement Program 2025 Supplier Conference Maintain the annual number of suppliers included in desk and risk analysis Maintain (minimum target) / increase (maximum target) the number of sustainability audits in the supply chain R - Lack of respect for human rights and sustainable practices throughout the supply chain, resulting in the risk of litigation, payment of ﬁnes/sanctions and/or reputational damage Code of Ethics Human Rights Policy Code of Business Conduct Conﬂict Minerals Policy Helpline Policy and Procedure and whistleblowing platform Human rights due diligence Participation in the Copper Mark Initiative Supplier Engagement Program Maintain (minimum target) / increase (maximum target) the number of sustainability audits in the supply chain Policies Code of Ethics The Code of Ethics is a charter of rights and obligations that deﬁnes the Company’s ethical and social responsibilities, thus representing its “Constitution”. Prysmian’s Code of Ethics adheres to and complies with the principles of the Universal Declaration of Human Rights, the Convention on the Rights of the Child and the Guiding Principles on Business and Human Rights of the United Nations, the Guidelines for Multinational Enterprises of the Organization for Economic Cooperation and Development, and International Labor Organization conventions. Based on the Code of Ethics, the Company requires all third parties, especially those within the supply chain, to adhere to the commitment related to fundamental human rights; to combat any form of discrimination, harassment or abuse; to repudiate and commit to oppose any form of slavery, human trafﬁcking, forced labor, or child labor; not to engage in any form of abuse, threats, intimidation, bullying, or behavior that might jeopardize, even potentially, a person’s wellbeing or dignity; and to adhere to Prysmian’s principles of social and economic equality. See “Policies” in section ESRS E2 of this document for details about the Code of Ethics. >> Continued
203 Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement Code of Business Conduct The Company follows a Code of Business Conduct designed to ensure the protection of workers’ rights in the value chain. The Code was written in compliance with the guiding principles of the United Nations (quality education, gender equality and reducing inequality), the International Bill of Human Rights and the Declaration of the International Labor Organization (ILO). The Code provides for protection of workers and their rights; prohibition of child, forced and bonded labor; prohibition of human trafﬁcking; and safeguarding of occupational health and safety, non- discrimination, compliance with local laws on the minimum wage, and freedom of association. The Code applies to the Group’s suppliers, business partners and agents, subcontractors, and distributors, as well as to employees who manage relations with such parties. It must be integrated into their day-to-day activities and business operations, particularly in dealmaking and procurement processes. The Group also encourages its partners to share and support its commitments. The Code focuses on risk management from various angles, including the ESG perspective, and aims to encourage its beneﬁciaries to mitigate identiﬁed risks and adopt sustainable practices. The document is posted on the Company’s website 29 and shared with business partners. It was approved by Prysmian’s Board of Directors in July 2025, after review by the Audit and Risk and Sustainability Committees, following an update and alignment with the Group’s strategy and key international standards. Conﬂict Minerals Policy Prysmian has adopted a Conﬂict Minerals Policy to ensure that the supply chain does not contribute to armed clashes in conﬂict zones and high-risk areas (such as, for example, the 29 https://www.prysmian.com/sites/www.prysmian.com/ﬁles/2024-03/Prysmian_Code-of-Business-Conduct_Final.pdf 30 https://www.prysmian.com/sites/www.prysmian.com/files/media/documents/Policy_Conflict_Minerals_ENG_FINAL_ July_2025.pdf Democratic Republic of Congo and neighboring countries). This goal is pursued via implementation of these principles: 1. identiﬁcation of procured materials and/or semi-ﬁnished products containing 3TG (tin, tungsten, tantalum, and gold); 2. requirement for all new and regular suppliers of products containing the above materials to complete the latest version of the Conﬂict Minerals Reporting Template (CMRT), developed by the Responsible Minerals Initiative (RMI), once a year; 3. analysis of data received to identify warning signs and inconsistencies, and implementation of appropriate remedial actions. This Policy applies to tier 1 metal suppliers – namely suppliers with whom Prysmian has a direct relationship – who use such materials in their products. The Policy explicitly prohibits human trafﬁcking, forced or bonded labor, and child labor. This Policy was ﬁrst drawn up in 2017, with the involvement of the Group’s senior management, in collaboration with the Procurement and Compliance teams. It was updated in July 2025 and aligned with the Group’s strategy and major international standards, with the aim of ensuring metal suppliers’ sustainable behavior. This update was approved by Prysmian’s Board of Directors, after review by the Audit and Risk and Sustainability Committees. The Policy is posted on the Group’s website 30 , and the Chief Executive Ofﬁcer, together with the Chief Procurement Ofﬁcer and the Chief Operating Ofﬁcer, are responsible for its implementation. The Procurement team also has Operational Guidance (OI-PUR-BM-002), which provides details of the procurement process and monitoring safeguards to ensure compliance with the above Policy.
204 PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 Supply Chain and Vendor Management Strategy operational document In 2016, Prysmian began a process of more thoroughly integrating ESG factors into supplier relationship management. The operational document, Supply Chain and Vendor Management Strategy, is posted on the Group’s website 31 and provides an overview of the actions carried out that operationally inform the approach taken to supply chain management and also guide the vision for the future. Designed for Prysmian’s suppliers – companies or entities that collaborate with the Group to supply materials, components or services – the strategy sets out the Company’s expectations in terms of quality, timing, sustainability and risk management. The operational document is also shared with other external stakeholders who collaborate with Prysmian in strategic or technological areas. This is done to ensure that supply chain management meets high standards of efﬁciency and sustainability. The document was updated in July 2025 and approved by the Procurement team, represented at senior level by the Chief Procurement Ofﬁcer. Suppliers’ ESG performance is monitored through a comprehensive process aimed at ensuring the effectiveness of the measures taken, assessing their impact, and identifying possible areas for improvement. This is done via desk and risk analysis of suppliers and sustainability audits, both of which are carried out by third parties in order to ensure maximum objectivity. Supplier analysis is formed of two components: the desk segment, which assesses sustainability aspects based on environmental, social and governance criteria using public information provided by the suppliers themselves; and the risk segment, which calibrates these results according to their relevance to the business and risk factors (country, commodity and speciﬁc sector) identiﬁed by Prysmian. Together, these two components make up the desk and risk analysis, which assigns each supplier a potential level of sustainability risk, deﬁned according to 31 https://www.prysmian.com/sites/www.prysmian.com/ﬁles/2025-07/Update_Supply_Chain_VendorMgmtStrategy_OTPUR001.pdf 32 https://www.prysmian.com/en/company/ethics-integrity/helpline 33 https://www.prysmian.com/sites/www.prysmian.com/files/2024-03/Helpline%20Policy%20ENG%20-%20New%20 Template%2027.03.2024_0.pdf predeﬁned thresholds. This enables Prysmian to identify risk clusters and to plan targeted actions. Desk and Risk analysis is also an integral part of the processes designed to verify compliance with the guiding principles of the United Nations on Business and Human Rights and the International Labor Organization’s (ILO) Declaration on Fundamental Principles and Rights at Work. The analysis is carried out in accordance with the following standards: Governance: a Code of Ethics/Code of Business Conduct, and an Anti-Corruption/ Anti-Bribery Policy in countries with a high Corruptions Perception Index (published by Transparency International) Environmental: ISO 14001 certiﬁcation, monitoring of hazardous waste generation, purchase or production of energy from renewable sources, participation in the Carbon Disclosure Program Labor and human rights: OHSAS 18001/ISO 45001 certiﬁcation, presence of a Human Rights Policy in countries with a high human rights risk (in the indices published by Maplecroft), and the presence of an occupational injury monitoring system. Starting in 2022, an additional media analysis was integrated into the desk and risk analysis. This analysis is aimed at identifying actual or potential ESG irregularities documented by the media, regulators, and non-governmental organizations. Helpline Policy and whistleblowing platform Prysmian ensures direct worker engagement in the supply chain via secure and accessible reporting channels. In the event of problems or critical issues, any worker can refer to the Helpline Policy 32 , and make use of a whistleblowing platform 33 available to all stakeholders via the Company’s website. Its operation is overseen by the Compliance team and the Chief Risk and Compliance Ofﬁcer and is also covered by the Group’s Code of Ethics.
205 Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement The platform is independent and managed by NAVEX Global, which is responsible for ensuring utmost conﬁdentiality and identity protection for whistleblowers. Reports are reviewed by the Helpline Committee, which assesses them and, if necessary, triggers speciﬁc investigations and takes appropriate measures. For further details on the whistleblowing channels and the safeguards provided, see section ESRS G1. Prysmian’s Helpline Policy makes it possible to report any violation of the Group’s corporate policies, including the Code of Ethics and the Code of Business Conduct. As these documents explicitly prohibit practices such as human trafﬁcking, forced or bonded labor and child labor, the Helpline Policy also prohibits such conduct. The Helpline thus facilitates collection of disclosures, strengthens the internal audit system, and helps promote an ethical and human rights-friendly work environment throughout the value chain. Actions To manage the value chain and achieve policy goals, as well as to address material impacts, risks and opportunities, Prysmian acts via targeted initiatives that are directly supported by the Procurement team. This team internally monitors the effectiveness of the actions deployed, which are deﬁned on the basis of the Group’s needs and information from the value chain, collected, for example, via desk and risk analysis. SUPPLIER CONFERENCE SCOPE OF ACTION TIME HORIZON Recurring activities (annual) Own and upstream operations in the value chain In 2025, Prysmian continued to actively engage core suppliers in initiatives aimed at generating medium- to long-term positive impacts on the industry by promoting workshops, partnerships, and joint projects to develop more sustainable solutions and products. The 2025 edition of Prysmian’s Supplier Conference offered in-depth sessions and opportunities for direct discussions with strategic suppliers. The initiative encouraged open dialogue and sharing of best practices, with the goal of consolidating sustainable partnerships throughout the value chain. At the event, the Group gave awards to seven partners for excellence, innovation and sustainability, in recognition of their full alignment with the Company’s goals and vision. The conference also featured panel discussions on Prysmian’s Sustainability Journey and a round table with Employee Value Propositions from the business lines. This provided an opportunity to set out the Company’s expectations from suppliers regarding sustainability, and to emphasize its importance as a key factor in business competitiveness and resilience.
206 PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 HUMAN RIGHTS DUE DILIGENCE SCOPE OF ACTION TIME HORIZON Recurring activities (annual) Own and upstream operations in the value chain Prysmian continuously monitors impacts, risks and opportunities related to its value chain 34 through its annual desk and risk analysis (1) and sustainability audits (2). Regarding point (1), this analysis involves the most signiﬁcant suppliers in terms of overall Group spending. Speciﬁc scores are assigned based on the three metrics analyzed (social, environmental, business governance), as well as an overall score that ranks supplier risk. Metrics are analyzed annually and compared with prior year results to monitor their trends. Suppliers with the highest risk values are identiﬁed and prioritized for sustainability audits (2), which include aspects related to human rights and labor rights. The assessment tools for the sustainability audit are periodically reviewed to broaden the scope of veriﬁcation of human rights-related issues and bring them in line with any new local/ regional regulations. An onsite audit assesses aspects related to workers’ wellbeing by evaluating production areas and ofﬁces, canteens and kitchens, inﬁrmaries and other spaces via a scoring system. The audit also examines common criteria that apply to all product and service categories. In particular, for the Transmission business unit, the sustainability audit is tailored to take into account the differing characteristics of supplier activities, distinguishing between land-based and marine operations. The audit is 34 Monitoring is aimed at tier 1 suppliers in Prysmian’s value chain. structured to ensure a thorough assessment in keeping with the operational speciﬁcs of each context. In general, the cross-cutting areas of assessment include sustainability strategy, respect for human and labor rights, compliance, ethics and integrity practices, and environmental protection. A targeted approach is used to adapt the audit checklist to the products and services provided to Prysmian. For suppliers engaged in land-based activities, elements such as compliance with labor regulations, environmental risk management, safety at construction sites, and the presence of Environmental and Social Management Plans (ESMPs) are examined. Aspects related to biodiversity, water and materials management, and the energy efﬁciency of machinery and equipment, are also assessed. For suppliers engaged in marine activities, the audit includes veriﬁcation of living and working conditions on board ships, and compliance with international conventions (e.g., Maritime Labor Convention). Speciﬁc safety measures for marine environments, aspects of marine/coastal biodiversity, as well as water and materials management, are also assessed. For suppliers engaged in logistics, special attention is paid to environmental sustainability and working conditions. Aspects related to the health and safety of operational personnel, monitoring of the environmental performance of vehicles, and sustainable logistics initiatives are analyzed. The management of waste and materials during transportation is also assessed, as well as compliance with international industry regulations. For suppliers engaged in production or processing of materials, the audit includes speciﬁc sections aimed at checking supply chain traceability, adoption of responsible sourcing policies, presence of due diligence processes, and compliance with international standards.
207 Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement The results of the audit, including the ﬁnal score and corrective and improvement actions, are shared with the supplier. Prysmian and the supplier work together to deﬁne improvement plans (if needed), and the Company offers support for implementing concrete initiatives. In the event of two consecutive audits with an unsatisfactory outcome, a supplier is deemed to be at risk of exclusion or contract termination if it does not achieve the minimum ESG requirements within the set timeframe. Actions taken are monitored on an ongoing basis through a periodic review of the original assessment. Compared with the previous year, there was an increase in audits of service and logistics providers in 2025. The goal of this increase was to systematically monitor partners’ compliance with international regulations, environmental and social standards, and corporate sustainability goals. This was done to foster a responsible, resilient supply chain aligned with ESG principles. Implementation of these actions resulted in annual Group expenditure of between €60,000 and €100,000, which is expected to remain unchanged in the short term. In 2025 Prysmian paid speciﬁc attention to the issue of mica 35 , increasing monitoring activities compared with 2024. In this context, an onsite sustainability audit was conducted at the main supplier of mica-based glass tapes (tier 1 in the value chain). The audit yielded a positive outcome. Prysmian deems mica sourcing a critical factor in its value chain. The extraction process for this mineral (which is not used directly in the Group’s products and production processes, but is present in small quantities in the glass-based tape that covers some cables) occurs in geographic areas where a variety of factors potentially contribute to human rights violations, such as poor working conditions and child labor. 35 Mica is a group of layered silicate minerals characterized by high thermal stability, insulating properties and the capacity to be broken down into thin sheets. At Prysmian, it is used as an insulating material in ﬁre-resistant cables due to its capacity to maintain electrical integrity even under extreme temperature conditions. Therefore, the Group is committed to minimizing the use of mica in its products: glass-based tapes now account for only 0.03% of direct materials procured. Mica mines are located approximately at level 4/5 in the supply chain, namely with several intermediate actors between the mine and Prysmian. Since 2016, the Company has required all suppliers to provide information on ore sources and their child-labor free certiﬁcates. Currently, the supply of glass tapes containing mica is based on these minimum conditions: 1. All suppliers must submit an annual Extended Minerals Reporting Template (EMRT); 2. All suppliers must guarantee compliance with the Human Rights Policy, and in particular conﬁrm the absence of child labor throughout their supply chain. These measures bear witness to Prysmian’s commitment to ensuring a responsible and transparent supply chain, with the aim of consolidating and further developing such practices in the future. PARTICIPATION IN THE COPPER MARK INITIATIVE SCOPE OF ACTION TIME HORIZON Recurring activities (annual) Own and upstream operations in the value chain
208 PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 The Copper Mark Initiative 36 is an international program that certiﬁes responsible copper production throughout the value chain. Prysmian has been a partner in this program since 2024, with the aim of ensuring transparent and sustainable procurement. The framework is based on sustainability criteria deﬁned by the Responsible Minerals Initiative, and provides third-party assurance for the entire process, from ore to metal. This enables consumers, investors, and businesses to identify suppliers that operate in line with the United Nations Sustainable Development Goals. Prysmian plays a major role in global raw material procurement. For example, the Group consumes about 2-3% of the world’s copper production. Therefore, participating in the Copper Mark Initiative is a concrete step that strengthens the Company’s commitment to an ethical and responsible supply chain. Many of the Group’s base metal suppliers participate in international industry programs, such as the Copper Mark Initiative and the Aluminum Stewardship Initiative. When selecting partners, Prysmian gives preference to those who actively participate in these initiatives, in recognition of their commitment to more responsible management of resources and mining supply chains. Joining the Copper Mark Initiative did not entail any cost for Prysmian, as the Company committed to helping achieve the goals set by the organization. SUPPLIER ENGAGEMENT PROGRAM SCOPE OF ACTION TIME HORIZON Recurring activities (annual) Own and upstream operations in the value chain 36 https://coppermark.org/ In 2025, Prysmian strengthened the Supplier Engagement Program, which had been set up and launched the previous year. The goal of the Company’s efforts was to make supplier assessment and management processes more effective, with a special focus on various aspects of risk management, including ESG performance. The Program is implemented via the revamped supplier management platform Pry-Source. It involves tier 1 partners, namely those who have a direct relationship with the Group. They cover all major commodity categories – metals, raw materials, services, etc. – and are selected based on strategic criteria, such as level of expenditure, innovation capability and supplier criticality. The program’s execution phase launched in 2025, onboarding two categories of supplier: top and strategic. Participating suppliers were asked to ﬁll out cluster- and commodity-speciﬁc questionnaires, supplemented with documentation and evidence to support their responses. Based on the initial results obtained, dedicated discussion sessions were organized with selected suppliers. These were designed to help analyze their performance and agree on actions that can improve ESG aspects deemed to be potentially at risk. The goal of these actions was to encourage alignment with best-in-class standards, and generate indirect beneﬁts, including for workers throughout the value chain. As of 2025, no current negative impacts have been registered along the supply chain. Therefore, no speciﬁc remedial initiatives have been launched, although the continuous monitoring system for identifying and managing critical issues remains in place. In 2025, the program was extended to all geographies in which the Group operates. Over the past two years, €350,000 has been allocated for implementation of the project. In the short term, expenditure within the range of €25- 75,000 has been estimated, ensuring that the tools and the program are fully operational and constantly updated.
209 Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement Targets ENTITY-SPECIFIC KPI Target 2026 Results 2025 Annual number of suppliers included in desk and risk analysis 500 500 Annual number of onsite sustainability audits in the supply chain min. 6 – max. 8 6 Every year, with the support of its supplier network, the Group strives to maintain or increase the number of suppliers undergoing onsite sustainability audits compared with the previous year. The target set for 2026 is to carry out at least 6 audits (minimum target) during the year, with an ambition to increase the number of suppliers involved to 8 (maximum target). The scope is the entire group of Prysmian’s suppliers (tier 1). The number of suppliers to be involved in desk and risk analysis remains 500. These targets were identiﬁed through dialogue between Prysmian’s Strategy, Sustainability and Procurement teams, as the latter directly manages relationships with suppliers. The Procurement team constantly shares the targets deﬁned at Group level with suppliers, and the related results achieved each time. This is done to maintain a strong commitment in this regard and strengthen relationships. The targets Prysmian set have also been developed through active engagement of workers in the value chain, at the Group’s annual conferences. These targets are fully aligned with Prysmian’s social and compliance policies and apply to the entire supply chain. Integration of targets and policies enables the Group to effectively monitor and promote suppliers’ compliance with ethical and environmental standards. Finally, it should be noted that these targets are not based on conclusive scientiﬁc data, but rather on internal observations, and that no speciﬁc methodologies or assumptions have been adopted for their deﬁnition. It should also be noted that to date the targets and methodology for measuring KPIs have not been revised. Metrics ENTITY-SPECIFIC KPI UNIT OF MEASUREMENT 2025 2024 Annual number of suppliers included in desk and risk analysis Number 500 500 Annual number of sustainability audits in the supply chain Total number since the launch of the initiative (2017) 50 44 Total number of suppliers included in desk and risk analysis This metric refers to the number of suppliers included in the desk and risk analysis carried out during the year. The scope of the analysis covers suppliers who have business relationships with Prysmian and are classiﬁed as a signiﬁcant expense, with speciﬁc criteria depending on industry and commodity: Metals: All suppliers with recurring spending; Raw materials: All suppliers with an annual turnover with Prysmian exceeding €100,000; Indirect materials: – Country-speciﬁc criteria, i.e., selected suppliers from the following geographic areas: LATAM, APAC, MEART) – Category-speciﬁc criteria, i.e., suppliers operating in sectors with workers more directly exposed to industrial activities: transportation, gas and electricity supply, maintenance, packaging and reels.
210 PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 High voltage installation: selected suppliers with relevant areas of activity and active in- volvement in ongoing projects. In 2025, the number of suppliers included in the analysis remained the same as in the previous year. The methodology does not involve the use of signiﬁcant estimates or assumptions, and the metrics it produces as a result are not reviewed by an external entity other than the party providing assurance for this document. The analysis is carried out and the related data processed by a third party, thereby ensuring a high level of objectivity in the assessment. Number of sustainability audits in the supply chain This metric refers to the number of total suppliers audited by third-party auditors since 2017. The methodology does not involve the use of signiﬁcant estimates or assumptions. Audits are carried out by an independent and accredited third-party entity. The audit checklist is based on the standards of the Responsible Business Alliance (RBA), the world’s largest industry coalition committed to promoting responsible conduct in global supply chains and is speciﬁc to the type of supply analyzed (commodities/services). Although audit data is not subject to review by a third-party assurance provider with respect to this document, they are processed and validated on the basis of activities carried out by a specialist external entity.
211 Sustainability statement Financial statement Consolidated Financial Statements Parent company ﬁnancial statement 1. Premise 2. Financial and Sustainability highlights 3. ESRS 2 - General disclosures 4. E - Environmental disclosure 5. S - Social disclosures 6. G - Governance disclosures 7. Appendices 8. Certiﬁcation 9. Audit report on Sustainability Consolidated Statement
ESRS S3 – AFFECTED COMMUNITIES
214 PRYSMIAN - INTEGRATED ANNUAL REPORT 2025 S3 – AFFECTED COMMUNITIES Governance Prysmian has established a robust, integrated governance system designed to responsibly manage the impacts its activities can have on affected communities, while ensuring prevention and mitigation of related risks. This governance model is based on a multidisciplinary approach involving various company departments, which ensures effective coordination and transparent management of social and environmental issues. The organizational structure is headed by the Sustainability Committee, which deﬁnes strategic guidelines and monitors integration of sustainability topics into business decisions. By identifying and assessing community-related risks and opportunities, the Strategy and Risk Management teams ensure that corporate policies reﬂect Prysmian’s commitments to human rights, respect for the environment and stakeholder dialogue. At the operational level, speciﬁc dedicated teams from the Sustainability and Project Management teams are responsible for implementing engagement strategies, monitoring impacts, and managing interactions with affected communities. Prysmian utilizes planned risk assessment and due diligence processes to promptly identify potential critical issues and implement corrective measures, thereby ensuring compliance with international standards and local regulations. The Group also promotes ongoing, transparent dialogue with communities and stakeholders, taking their opinions and interests into account when it deﬁnes operational strategies. Public consultations, partnerships with local/regional associations, and accessible complaints procedures help strengthen mutual trust and build long-term relationships based on accountability and mutual respect. This integrated approach to governance enables Prysmian to combine business growth with the creation of shared value. This minimizes negative impacts and makes a positive and sustainable contribution to the communities in which the Group operates. Strategy As a world leader in the manufacture of cables and solutions for energy and telecommunications, Prysmian recognizes the importance of establishing robust and accountable relationships with the various communities it encounters, both at a local level and around the world. The Group’s strategy is based on an inclusive proactive approach, aimed at creating shared value and promoting sustainable development by integrating economic, social and environmental aspects into its activities and decisions. The main communities affected by Prysmian’s activities are: 1. Inland local communities People living near production plants and construction sites are directly affected by the Group’s activities. The technological solutions provided, such as renewable energy cables and FTTH ﬁber optic cables, improve access to essential services like electricity and connectivity, and therefore enhance the quality of life. The Group may use innovative cable laying technologies, including “no-dig” and “trenchless” methods, pre-connectorized cables, robust cables for simpliﬁed laying, and ﬁber optic blowing techniques, which reduce direct impacts on local people caused by civil engineering works. Prysmian also creates social value by implementing ad hoc initiatives to meet local needs in areas affected by works. 2. Coastal communities Prysmian contributes to the energy transition and clean energy production via undersea cable laying projects for renewable energy. The Group establishes relationships with local associations to promote collaboration with coastal communities,