Ence Energia y Celulosa SA

Ence has established its principles of action in terms of sustainability and relations with its stakeholders in its Sustainability Policy, approved by the Board of Directors. In addition to this framework policy, Ence has specific policies in different areas of sustainability, such as the Diversity and Equal Opportunities Policy, the Procurement Policy, the Health and Safety Policy and the Sustainability Due Diligence Policy, the latter approved in 2023, all of which are available on Ence's website. [...] In 2018, given the importance of sustainability for the company, Ence Board of Directors established a specific committee on the Board of Directors, the Sustainability Committee. This Committee is chaired by an independent director with extensive experience in the management of environmental, social and governance (ESG) issues in industrial companies. The main duty of this Committee is to monitor the sustainability strategy, supervise relations with the company's stakeholders and supervise the information that Ence provides to the market in relation to ESG aspects. The full scope of the Sustainability Committee's functions is detailed in the Ence Board of Directors' Operating Regulations. The committee meets at least once every quarter and in 2023 it has held a total of 5 meetings. This approach demonstrates Ence's active commitment to the effective and transparent management of sustainability-related aspects of its corporate governance model. [...] At the executive level, Ence has a Sustainability General Management, with a corporate sustainability team in charge of coordinating transversal projects and information reporting, and a number of sustainability managers in the business areas, who report functionally to General Management. The Chief Sustainability Officer reports directly to the Chief Executive Officer of the company. Both the Management Committee and the Board, especially the Sustainability Committee, undertake ongoing monitoring of the indicators established in Ence's Sustainability Master Plan and the key projects promoted by the company in this area. These bodies also carry out regular reviews of the company's climate risk analysis, as well as possible changes in the regulatory context that may affect Ence.

Ence's commitment to sustainability has also led the company to create a specific Sustainability Committee on the Board of Directors in 2018, with the participation of directors who are experts in the management of ESG aspects. The main functions of this committee are to monitor Ence's sustainability strategy and supervise relations with the company's stakeholders, among others. Details of the dynamics and functions of the sustainability committee are described in the Ence Board Regulations. [...] In addition to the committee, at the executive level Ence has a Sustainability Committee, chaired by the CEO and made up of the General Managers and those responsible for sustainability in the different areas. This committee is the body responsible for, among other functions, drawing up and reaching a consensus on the sustainability strategy, proposing objectives, monitoring plans and actions, organising the reporting of non-financial information and establishing channels for relations with Ence's stakeholders. [...] Ence also has a Sustainability Department which reports directly to the company's Chairman and coordinates the implementation of the sustainability strategy at corporate level, as well as the reporting of ESG information to analysts, investors, customers and other stakeholders.