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In addition, TotalEnergies implements a strategy to tackle climate change challenges and reports on this in detail, notably in its statement of extra -financial performance (refer to point 5.4 of chapter 5), in accordance with Articles L. 22-10-36 and L. 225-102-1 of the French Commercial Code.

The Company typically cooperates with these organizations on technical subjects, but some take public stances on other issues, such as climate.

Our responses to the European Commission’s public consultations on climate are public and may be viewed online.

5.4.3.2 Processes to manage risks related to climate change The risks posed by climate change are included among the risks analyzed by the TotalEnergies Risk Management Committee (TRMC).

The energy system must therefore be transformed, because energy is at the heart of this global climate challenge: GHG emissions linked to the production or use of energy account for over 60% of global emissions in 2021 (ref.

The transition will not take place without social acceptability (both between North and South and within OECD countries) and without genuine efforts in terms of climate justice.

Jacques Aschenbroich brings to the Board of Directors of TotalEnergies his experience as the head of an industrial, international and technological group that is exposed to climate issues.

There can be no assurance that climate change or environmental regulation or deregulation will not have a negative competitive impact on our ability to sell our products or that economic returns will match the investment that we are making in new product development.

Climate change presents immediate and long-term risks to our Company and to our customers, with the risks expected to increase over time, including, among others, acute physical risks (such as flooding, hurricanes, or wildfires) or chronic physical risks (such as droughts, heat waves, or sea level changes).

Our climate commitment requires us to offer a full line of next generation products by 2030 without compromising safety or energy efficiency.

DESCRIPTION OF COMPANY Trane Technologies plc, a public limited company, incorporated in Ireland in 2009, and its consolidated subsidiaries (collectively we, our, the Company or Trane Technologies) is a global climate innovator.

This strategy supports our efforts to create opportunity for all by providing underrepresented students with a range of resources, from classroom curriculum that introduces them to careers at a climate innovation company, to soft-skill development for landing a STEM job.

Our emissions reduction commitments align with the Paris Climate Accord net-zero targets, consistent with limiting global temperature rise to no more than 1.5 °C.

There continues to be a lack of consistent climate legislation, which creates economic and regulatory uncertainty.

Climate change is a risk multiplier with respect to these physical disasters in both frequency and severity and may affect our global business operations as a result.

Each year, we make investments in new product development and new technology innovation as they are key factors in achieving our strategic objectives as a leader in the climate sector.

TRANE BRANDS, INC. DELAWARE 100% TRANE BUFORD LLC DELAWARE 100% TRANE BV BELGIUM 100% TRANE CANADA ULC CANADA 100% TRANE CENTRAL AMERICA, INC. DELAWARE 100% TRANE CHINA HOLDINGS LIMITED CAYMAN ISLANDS 100% TRANE CLIMATE MANUFACTURING S.R.L.

Changes regarding climate risk management and practices may result in higher regulatory, compliance risks and costs.

Table of Contents Global climate change and related regulations could negatively affect our business.

In addition, climate change could affect our ability to procure needed commodities at costs and in quantities we currently experience and may require us to make additional unplanned capital expenditures.

2022 – Included the following items: •$114 million pretax, or $0.23 per diluted share, of production facilities fire insurance proceeds, net of costs incurred.

Operating income in fiscal 2022 was impacted by $27 million of insurance proceeds related to a fire at a production facility in fiscal 2019, and $16 million of restructuring and related charges.

Climate change and rising global temperatures may contribute to changing weather patterns, elongated drought periods, heavier or more frequent storms and wildfires, and increased frequency and severity of natural disasters.

We were selected as a potential grant recipient in fiscal 2022 under the USDA's Partnerships for Climate-Smart Commodities grant program.

Operating income in fiscal 2021 was impacted by $626 million of losses from the recognition of legal contingency accruals and $23 million of expenses related to a fire at a production facility.

Operating income in fiscal 2023 was impacted by $322 million in plant closure charges, $210 million of goodwill impairment charges, $156 million in legal contingency accruals and $16 million in restructuring and related charges, offset by $11 million of insurance proceeds, net of costs incurred associated with a production facility fire in fiscal 2021.

Increasing concern over climate change also may adversely impact demand for our products due to changes in consumer preferences and result in additional legal or regulatory requirements designed to manage greenhouse gas emissions, climate risks, and resulting environmental impacts.

•Operating Income (Loss) – Operating income decreased due to compressed pork margins, increased operating costs as a result of the inflationary market environment, losses incurred in our live hog operations and impacts from a production facility fire in the third quarter of fiscal 2023.

Increased government regulations to limit carbon dioxide, methane and other greenhouse gas emissions as a result of concern over climate change, as well as alternative energy policies and sustainability initiatives (including those related to single use plastics), may result in increased compliance costs, capital expenditures and other financial obligations for us.

•$75 million pretax, or $0.16 per diluted share, of production facilities fire insurance proceeds, net of costs incurred.

Finally, we currently provide certain climate-related disclosures, and from time to time, we establish and publicly announce goals and commitments to reduce our carbon footprint.

•Decrease of approximately $58 million in our Chicken segment related to insurance proceeds, net of costs incurred, related to the fire at our production facility in the fourth quarter of fiscal 2021.

•Increase of approximately $24 million in our Chicken segment due to $11 million of insurance proceeds, net of costs incurred, in fiscal 2023 compared to $35 million of insurance proceeds, net of costs incurred, in fiscal 2022 related to the fire at our production facility in fiscal 2021.

Climate change In preparing these consolidated financial statements we have considered the impact of both physical and transition climate change risks as well as our plans to mitigate against those risks on the current valuation of our assets and liabilities.

The Trustees consider climate risk as one of the key investment risks and are continually evolving their investments to lower the overall climate risk.

In 2023, we expanded our Supplier Climate Programme to reach more than 100 suppliers, with around 80 delivering on our asks.

Due to the nature of climate risks and opportunities we are monitoring them across a number of time horizons.

We are more certain than ever that it is the right time to focus our sustainability efforts on the four key priorities where we are best placed to drive impact: climate, nature, plastics and livelihoods.

A summary of the climate metrics and targets we are currently able to measure can be found on pages 46 to 47, and form part of these TCFD disclosures.STRATEGIC REPORT CORPORATE GOVERNANCE FINANCIAL STATEMENTS Review of the Year Unilever Annual Report and Accounts 2023 55

We also integrate climate-related disclosures throughout this Annual Report and Accounts, including in our Climate Transition Action Plan (CTAP) Annual Progress Report on pages 43 to 47.

Climate Our Climate Transition Action Plan (CTAP) outlines the actions we are taking to reduce GHG emissions in our business and across our value chain, to reach net zero by 2039.

We are developing products with a lower carbon footprint, decarbonising our operations through eco-efficiency measures, powering our factories with renewable electricity, and replacing climate-harmful refrigerants.

Supplier Climate Programme We continue to support suppliers of raw materials, ingredients and packaging to deliver long-term reductions in GHG emissions.

Climate Transition Action Plan We will continue to work hard to become a more sustainable business having made progress again in 2023.

Our suppliers with more mature climate programmes have now sent us around 240 Product Carbon Footprint (PCF) data points that meet industry standards and can be incorporated into our GHG measurement in the future.

Freight rail leads other forms of surface transportation when it comes to minimizing GHG emissions, and we expect rail will continue to play a critical role in mitigating and abating the impacts of climate change.

We May Be Affected by Climate Change and Market or Regulatory Responses to Climate Change – Climate change, including the impact of global warming and transition risks involving policy, legal risks, and market risks, could have a material adverse effect on our results of operations, financial condition, and liquidity over both a long-term and near-term basis.

Violent weather caused by climate change, including hurricanes, fires, floods, extreme temperatures, avalanches, and significant precipitation has in the past and could in the future cause line outages and other interruptions to our infrastructure.

Any of these factors, individually or in operation with one or more of the other factors, or other unpredictable impacts of climate change could reduce the amount of traffic we handle and have a material adverse effect on our results of operations, financial condition, and liquidity.

We could face increased costs related to defending and resolving legal claims and other litigation or complying with laws or regulations related to climate change and the alleged impact of our operations on climate change.

Climate Change – Climate change could have an adverse impact on our operations and financial performance (see Risk Factors under Item 1A of this report).

We continue to refine our approach to understand climate-related risks and are taking an iterative approach in our business planning processes as risk factors, solutions, and technology develop.

We utilize climate scenario analyses to better understand climate-related risks and opportunities the Company may face in the future under a range of potential scenarios.

However, we are unable to predict the likelihood, manner, severity, or ultimate financial impact of actual future incidents as climate scenario analysis considers a range of potential outcomes.

We could also be subject to environmental liability claims from various parties, including airport authorities and other third parties, related to our operations at our owned or leased premises, including our use of PFAS-containing fire suppression systems as required by fire codes, or the off-site disposal of waste generated at our facilities.

Table of Contents all of which are key to advancing the Company's climate goals.

Climate change is expected to increase the frequency, severity, unpredictability and duration of severe weather events and other natural cycles and could affect travel demand as well as result in increases in delays and cancellations, turbulence-related injuries and fuel consumption to avoid such weather, any of which could result in a significant loss of revenue and higher costs.

Over the last few years, we have made historic investments to fight climate change and provided career opportunities to thousands of people.

The Company may incur substantial costs and operational disruptions as a result of both its physical risks (such as extreme weather conditions or rising sea levels) and transition risks (such as regulatory or technological changes) associated with climate change.

As a result, the Company continues to incur costs to convert existing fixed foam fire suppression systems to accommodate PFAS-free firefighting foam agents.

There is also a risk that the increased regulatory focus on airline GHG emissions could result in a patchwork of inconsistent or conflicting regional requirements that could unduly shift excessive cost burden to airlines and inhibit the development of carbon reduction technologies that the Company needs to reach its climate goals.

In addition to the EU ETS, other countries are considering climate proposals that would impact aviation.

Table of Contents There can be no assurance of the extent to which any of our climate goals will be achieved or that any current or future investments that we make in furtherance of achieving our climate goals will produce the expected results or meet stakeholders' evolving expectations.

Climate Change and Sustainability.

Management periodically updates the Board on the implementation of the Company's climate-related strategic goals and objectives.

The Company's Board of Directors (the "Board"), including through its Public Responsibility Committee, provides oversight of its environmental sustainability and climate-related strategic goals and objectives to ensure integration with its core business strategy.

In order to be aligned to the climate change mitigation objective, an activity must be eligible, meet the technical screening criteria, comply with the minimum safeguards stipulated in the regulation and not cause significant harm to any of the other five objectives.

The IPCC’s Special Report on the impacts of global warming of 1.5°C above pre-industrial levels details the consequences for people and the planet even if emissions are reduced considerably, while the first instalment of its Sixth Assessment Report presents the most compelling evidence to date that human activities are causing climate change.

TCI is proud to be a shareholder of VINCI, a leader in environmental policy and a facilitator of the energy transition.”Climate Ambition for 2030 Climate Performance in 2023 A FORCE FOR GOOD 032

3.2 Acting for the climate Climate change is a reality: global temperatures have risen by more than 1°C compared with pre-industrial levels, leading to more frequent and more intense extreme weather events each year.

According to the climate models published by the Intergovernmental Panel on Climate Change (IPCC) in relation to the RCP 6.0 and RCP 8.5 scenarios, current production and consumption practices could see temperatures rise by around 3.5°C to 5°C by the end of this century, resulting in major and irreversible shifts that could affect all aspects of society.

All climate forecasts are taken into account to calculate the historical baseline.

For example, VINCI’s climate commitments address the pressure of climate change as a cause of biodiversity loss, and actions to promote the circular economy alleviate pressures on biodiversity by curbing waste and protecting natural resources.

Construction revenue therefore appears twice: under 7.1 as contributing to the climate change mitigation objective and under 3.1 as contributing to the circular economy objective.

In 2019, awareness of the climate emergency and the environment became more acute, leading to the definition of a new environmental ambition involving all VINCI entities for the 2020-2030 period.

As an example, on VINCI Construction ’s Coastal GasLink project, to meet the requirements of British Columbia’s Ministry of Environment and Climate Change Strategy, buffer zones were created along sensitive waterways and sediment- laden run-off was captured and treated.

Of the taxonomy-eligible sales revenue from economic activity 3.3 Manufacture of low-carbon technologies for transport, €36.6 billion met the screening criteria us ed to measure the substantial contribution to climate change mitigation.

It was included if the vehicles in question make a substantial contribution to the climate change mitigation objective.

At Volkswagen, this comprises all new-build activities that enable the use of gas and climate-neutral synthetic fuels

In this way, we have identified those vehicles among all of our taxonomy-eligible vehicles that meet the screening criteria and with which the substantial contribution to climate change mitigation is measured.

In addition to the broad range of all-el ectric vehicles and hybrid models, we kicked off the goTOzero retail project that is focused on decarbon izing our entire sales network and increasing its ESG performance, helping our sales partners to move over to a climate-neutral business model.

Growing global energy needs call for innovation in the industry and a growing willingness on the part of governments to invest in line with the global climate policy.

Volkswagen also retained its B rating from MSCI and kept its score of A– in the CDP Climate Rating in 2023.

The topics of our social commitment range from education to culture, diversity, a culture of remembrance, climate action and environmental protec- tion, and various local commitments.

The table below sets out the allocation of our activities in the vehicle-related business and in Power Engineering to the economic activities listed in the EU Taxonomy under the environmental objective of climate change mitigation.

These enable us to record and reduce the quantitative environmental impact of our production sites, particularly in the areas requiring action of climate protection and energy, emissions, water and waste.

They were included if the vehicles in qu estion make a substantial contribution to the climate change mitigation objective.

Sustainability will continue to be a recurring theme in the business world and will gain further pertinence, driven by the increasingly noticeable consequences of climate change, a greater consciousness of sustainable lifestyles on the part of the customer and, not least, underlying factors such as the Paris Climate Agreement.

Another aspect of implementing the climate pathway is increasing energy generation from renewable sources.

Our neighborhood developments are designed to comply with clear climate protection requirements (see Environmental Issues ).

The risk assessment is based on scenario RCP4.5, which, according to the United Nations (UNEP Emissions Gap Report 2023), represents the probable increase in the global average temperature that will result from the national contributions to climate change mitigation that have currently been defined and implemented.

This calculation revealed that, taking into account long-term sales that are already planned and Recurring Sales, Vonovia’s climate pathway is compatible with global warming of 1.4° Celsius.

The purchase of certified green electricity to supply communal areas makes a further contribution to our climate strategy.

As such, environmental and climate protection is accorded paramount importance within our sustainability strategy.

In the future, the individual findings from the climate risk analysis will be incorporated into the specific neighborhood profiles that provide the guidelines for managing and developing a neighborhood.

For buildings constructed after December 31, 2020, the same criteria for substantial contribution to climate change mitigation apply as for new construction (activity 7.1).Turnover from electricity generation using solar photovolta- ic technology (activity 4.1) is treated as a direct climate change mitigation measure in the EU Taxonomy Regulation.

Due to the deterioration in the investment climate and resulting adjustments to this specific investment program, we were only able to use part of the €62.8 million that had been earmarked for investment in neighborhood developments in Germany for the 2023 fiscal year in full.

The recommendations made by the Task Force on Climate-related Financial Disclosures (TCFD) constitute important guidance in this regard.

Climate risks have an impact on Vonovia’s business model and strategy.

The Company is sensitive to the growing global debate with respect to climate change.