Company: Gestamp Automoción, S.A.
Industry: Metal Processing
Country: Spain
Sector: Materials
Company type: S.A.
Revenue (EUR): 12273700000
Employees: 42670

Reported EU Taxonomy activities:
Manufacture of batteries
Manufacture of automotive and mobility components

EU Taxonomy KPIs (currency: EUR, units: millions)
Turnover:
totalTurnover: value: 12273.7
percentage: 100%
eligibleTurnover: value: 515.2
percentage: 4.2%
alignedTurnover: value: 51.8
percentage: 0.4%
nonEligibleTurnover: value: 11758.5
percentage: 95.8%
CapEx:
totalCapex: value: 949.67
percentage: 100%
eligibleCapex: value: 178.1
percentage: 18.8%
alignedCapex: value: 19.6
percentage: 2.1%
eligibleNotAlignedCapex: value: 158.5
percentage: 16.7%
nonEligibleCapex: value: 771.56
percentage: 81.2%
OpEx:
totalOpex: value: 1430.49
percentage: 100%
eligibleOpex: value: 29.7
percentage: 2.1%
alignedOpex: value: 1.8
percentage: 0.1%
nonEligibleOpex: value: 1400.74
percentage: 97.9%

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ANNUAL REPORT

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# 01 [Letter from the Chairman](#page-2-0) 04 [Environmental Dimension](#page-2-0) 07

Image /page/1/Picture/2 description: The image contains the number "02" in a light blue color, followed by the text "Gestamp Group" in a darker blue color.

2.1 [About Gestamp](#page-5-0) 2.2 [Operational Excellence](#page-15-0) 

2.3 [Economic Strategy](#page-37-0) 

#### 03 [ESG Perspective](#page-49-0)

3.1 [ESG at Gestamp](#page-50-0)

- 3.2 [ESG Strategy](#page-53-0)
- 3.3 [ESG Criteria Ratings](#page-58-0)

#### 04 [Environmental Dimension](#page-59-0)

- 4.1 [Road to Neutrality](#page-60-0)
- 4.2 [Circularity](#page-75-0)
- 4.3 [Environmental Management](#page-84-0)

#### 05 [Social Dimension](#page-107-0)

- 5.1 [Talent](#page-108-0)
- 5.2 [Health and Safety](#page-134-0)
- 5.3 [Local Communities](#page-145-0)

#### 06 [Governance](#page-155-0)

#### 6.1 [Responsible Supply Chain Management](#page-156-0)

6.2 [Good Governance and Ethics](#page-162-0)

# [Annexes](#page-199-0)

- 7.1 [Tables and additional information](#page-200-0)
- 7.2 [Policies and other rules of the Group](#page-207-0)
- 7.3 [About this report](#page-208-0)
- 7.4 [Double materiality Methodology](#page-210-0)
- 7.5 [Table of contents](#page-214-0)
- 7.6 [GRI Standards Indicators](#page-220-0)
- 7.7 [SASB indicators](#page-224-0)
- 7.8 [UN Global Compact](#page-225-0)
- 7.9 [Companies of the Group](#page-226-0)
- 7.10 [Report on Independent Review](#page-228-0)

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Image /page/1/Picture/32 description: The image shows the logo for "estamp". The word "estamp" is written in a bold, sans-serif font in a dark blue color. To the right of the word is a square box, also in dark blue, containing a white graphic that resembles a stylized letter "C" or a curved line with a small circle at the end.

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ANNUAL REPORT 20**23** | GESTAMP

# <span id="page-2-0"></span>01 Letter from the Chairman

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#### [1. LETTER FROM THE CHAIRMAN](#page-2-0)

## ANNUAL REPORT 2023

Image /page/3/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked vertically.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

Since our beginnings as local stamping suppliers, we have worked together with our customers, accompanying them in their globalisation, helping them to develop increasingly safer and more efficient vehicles, and offering them innovative solutions to the many and diverse challenges presented by the automotive sector.

This has helped us become a key player in the automotive sector, being a global reference in the development and manufacturing of metal components, with an international presence in 24 countries and a diverse and multicultural team of more than 40,000 people.

Global vehicle production has grown by 9.7% in 2023, consolidating its recovery despite economic challenges and geopolitical tensions. The commitment, performance and efficiency of our teams has allowed us to achieve good results in 2023, taking advantage of market opportunities. Accordingly, our revenue rose to EUR 12.27 bn, up 14.4% on the previous year and our EBITDA increased by 13.4%, reaching EUR 1.37 bn. This growth highlights the success of a business strategy based on geographical diversification, an innovative and unique product portfolio, and a focus on creating long-term value by leading the transition towards electric vehicles.

These results also support our long-term vision of integrating sustainability in the core of our business model. To this end, we have developed an ambitious ESG strategic plan until 2025, which not only establishes objectives for all the areas that we consider essential for this correct performance, but also strengthens our firm conviction that sustainability represents a cornerstone of our business strategy.

The development of environmental, social and good governance aspects is integrated transversally in our business strategy. Starting with the development of lighter parts, which help increase the autonomy of the electric vehicle, reduce CO2 emissions and optimise the use of raw materials. Another key pillar of our ESG plan is to promote the circular economy, closely collaborating with our entire value chain to use our high-quality scrap as a secondary raw material for the production of low-emission steel. In this regard, in 2023, agreements have been reached with our suppliers Tata Steel UK, SSAB and Arcelor Mittal to promote low-emission steel.

The commitment to local communities in which Gestamp is present has always been a key part of our social strategy. We are aware of our role of contributing to the development of communities through the generation of quality employment and the implementation of Social Action initiatives that positively impact society. As a result, in 2023 we have developed around 229 initiatives with 464,827 beneficiaries.

All of this structured in a strong governance model supported by the Board of Directors, the ESG Commission and the ESG Committee, which ensure that sustainability is addressed comprehensively and effectively throughout the organisation. What's more, the new regulatory requirements on transparency, such as the CSRD, serve as a tool to be able to show the market how sustainability has always been part of Gestamp.

Beyond our determined commitment to sustainability and the positive economic performance during the year, the group continues to invest decisively in strengthening our long-term strategic positioning through product innovation and the digitalisation of our processes.

In this way, we are committed to innovation and technology as a driving force for developing solutions that help in the transition towards cleaner mobility that is safer for people, and to help address challenges within the industry. Gestamp is a technology company that already has the capabilities to offer a product portfolio that will be key in the new architecture of the car of the future, products that combine weight efficiency, passenger safety and the most competitive cost.

Furthermore, thanks to our Industry 4.0 model, we are developing more efficient and flexible production plants that continuously improve operations management and provide operational flexibility through the digitalisation of all our processes.

In 2024, we will continue working in the Group on using all the means at our disposal to reaffirm our commitment to sustainability and contribute to the achievement of Agenda 2030 and the United Nations Sustainable Development Goals.

Image /page/3/Picture/22 description: The image shows a signature on the left and the name and title of a person on the right. The name is "Francisco J. Riberas Mera" and the title is "Executive Chairman of Gestamp".

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# <span id="page-4-0"></span>02 Gestamp Group

- 2.1 [About Gestamp](#page-5-0)
- 2.2 [Operational Excellence](#page-15-0)
- 2.3 [Economic Strategy](#page-37-0)

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# 2.1 About Gestamp

# [INDEX](#page-1-0)

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

## GESTAMP'S BACKGROUND

Gestamp is a multinational company specializing in the design, development and manufacture of high-end metal parts for the automotive industry.

Since it was formed in 1997, Gestamp has gone from being a small local metal stamping supplier to a global company, operating in the main automobile manufacturing hubs. The customer has always been at the center of the business, with Gestamp accompanying them into new markets and offering them innovative solutions to tackle the many different challenges of the automotive industry.

Gestamp is a standout supplier in the automotive parts industry, with the necessary critical mass to meet the needs of its customers and a strategy based on globalization, technological development, financial solvency and operational excellence.

Gestamp is a major group within the automotive industry, committed to ensuring safety, always striving for safer and cleaner mobility.

With operations in 24 countries, Gestamp is made up of more than 44,000 people of different nationalities, forming a large, diverse, multicultural team.

As a family business, Gestamp was intended to be a long-term project from the very beginning. This intention has remained strong over the years, through the fostering of long-lasting relationships based on trust. After more than 25 years progress, Gestamp looks to the future ambitiously, while remaining loyal to the core essence of the business and firmly committed to becoming better every day.

Image /page/5/Picture/20 description: The image shows a close-up of the word "Gestamp" in shiny, metallic letters. The letters are three-dimensional and reflect light, giving them a glossy appearance. The background is a light, neutral color, possibly a wall or surface. The angle of the shot is slightly off-center, focusing on the middle portion of the word.

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Image /page/6/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in blue. To the right of the word is a blue square containing a white abstract design that resembles a stylized "G" or a curved line with a small circle at the end.

#### ANNUAL REPORT 2023 GESTAMP IN THE WORLD

Image /page/6/Figure/3 description: This image shows a world map with the locations of Gestamp Group's production plants and R&D centers. The map is colored in blue, and the locations of the plants and centers are marked with blue circles. The number of plants and centers in each country is indicated next to the circle. The image also includes a list of the countries where Gestamp Group has a presence, as well as the number of plants and centers in each country. The list is organized by region, including Western Europe, Eastern Europe, North America, South America, Africa, and Asia. The image also includes an index of the document, which lists the topics covered in the document, including Letter from the Chairman, Gestamp Group, ESG Perspective, Environmental Dimension, Social Dimension, Governance, and Annexes. The image also includes the following data: 24 countries, 110 production plants, 13 R&D centers, Western Europe 43 8, Eastern Europe 20, North America 16 1, South America 9 1, Africa 1, Asia 21 3, United States 9 1, Mexico 7, Brazil 2 1, Germany 7 2, France 7 2, Sweden 1 1, Poland 3, United Kingdom 3 1, Spain 22 2, Portugal 3, Czech Republic 3, Turkey 6, Morocco 1, Slovakia 2, Bulgaria 1, Argentina 2, Russia 3, Romania 1, China 13 2, India 4, Thailand 1, Hungary 1, Japan 1 1, South Korea 2.

\*Additionally to these 110 plants, 5 are under construction.

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Image /page/7/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in blue. To the right of the word is a blue square containing a stylized white graphic that resembles a curved line with a circle at the end.

Image /page/7/Picture/3 description: The image shows a symbol consisting of three horizontal lines stacked on top of each other, with the word "INDEX" written below the lines. The lines and the word are in a dark teal color.

[1. Letter from the Chairman](#page-2-0)

#### [2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

# ORGANISATIONAL STRUCTURE

Gestamp's organisational model is built on functions that focus on business, product, process and strategic project development, while our geographic divisions are focused on the launch of industrial projects and the efficient management of production capacity.

Image /page/7/Picture/13 description: The image shows the Gestamp logo on a glass door or window. The logo consists of the word "Gestamp" in a sans-serif font, followed by a square containing a stylized graphic of a curved line with a small circle at one end. The background is blurred, suggesting an interior space.

## BOARD OF DIRECTORS Nomination and Compensation Committee Audit Committee Sustainability Committee Asia Europe Germany and Hungary Mercosur Mexico USA Edscha Loire Tooling Operational Excellence Technology and Innovation Legal, Tax and Corporate Governance Matters Human Resources Purchasing Finance Commercial Communications, Marketing and Public Relations Environment, Social and Governance Information Technology EXECUTIVE CHAIRMAN Operations Directors Corporate Directors

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Image /page/8/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, dark blue font. To the right of the word is a square containing a stylized graphic of a curved line with a circle at the end, also in dark blue.

Image /page/8/Picture/2 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked vertically.

#### [1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

# PRODUCTS AND TECHNOLOGY

Throughout 2023, Gestamp has maintained its leadership in the development of solutions to the new technological and mobility challenges facing the automotive sector.

[2. GESTAMP GROUP](#page-4-0) **[2.1 About Gestamp](#page-5-0)** [2.2 Operational Excellence](#page-15-0) [2.3 Economic Strategy](#page-37-0) 

Quality, efficiency and effectiveness are the pillars when working on the development of increasingly safe and sustainable products that its customers adopt in new vehicles.

From the Technology and Innovation Office, Gestamp works to make mobility increasingly sustainable with great care in the impact generated on the environment, in addition to prioritizing people's safety.

Thanks to innovation in technology, Gestamp is able to offer to the market more advanced products for the manufacture of increasingly efficient cars..

#### **Technology**

Gestamp, world technological leader, has a wide variety of technologies that allow it to offer customers innovative solutions that respond to industry requirements, achieving a balance between safety, performance, weight and cost.

Gestamp has evolved technologically from a company specialising in cold stamping to a multi-technological company, continually striving to incorporate new technology into manufacturing processes and expanding the traditional techniques.

Gestamp is a leader in hot stamping technology, with more than 100 lines all over the world. This technology makes it possible to manufacture safer and lighter metal components, which reduces the overall weight of the vehicle, lowering energy consumption and thus reducing CO2 emissions.

During 2023, it has continued to advance even further in this technology and, as a result, has launched a new line of large products that has generated great acceptance by its customers, translating into new business for some of its manufacturing plants.

Some of the technologies that we can find within the Gestamp portfolio are:

Image /page/8/Picture/21 description: The image shows a video thumbnail. The thumbnail features a blurred image of an industrial setting with machinery and metal parts. A large, white play button is superimposed in the center of the thumbnail, indicating that it is a video.

MULTISTEP

HOT STAMP

Image /page/8/Picture/24 description: The image shows a blurred close-up of metallic objects, possibly machinery or industrial components, with a prominent white play button overlayed in the center. The objects are various shades of gray and blue, and the play button suggests the image is a thumbnail for a video.

[HYDROFORMING](https://www.youtube.com/watch?v=glNKQey7Gw4)

Image /page/8/Picture/26 description: The image shows a play button overlayed on a blurred background. The play button is a white triangle pointing to the right. The background appears to be an industrial setting with orange and red hues, possibly depicting molten metal or a similar high-temperature process. The overall image suggests a video or media related to industry or manufacturing.

[HOT STAMPING](https://www.youtube.com/watch?v=73KCuNqZYHk) 

Image /page/8/Picture/28 description: The image shows a still from a video. A white triangle is superimposed on the right side of the image, indicating a play button. The background shows a machine with various mechanical parts.

[WELDING AND](https://www.youtube.com/watch?v=ZY2XmKOIdmI)  ASSEMBLY

Image /page/8/Picture/30 description: The image shows a video thumbnail with a white play button overlayed on a metal stamping machine. Below the video thumbnail, the text "COLD STAMPING" is displayed in a large, sans-serif font.

Image /page/8/Picture/31 description: The image shows a close-up of a sewing machine with a play button overlayed on the right side of the image. The sewing machine is white and has various metal parts. The play button is a white triangle pointing to the right.

![Image of a play button on a video](https://i.imgur.com/9999999.png)

[MULTISTEP](https://www.youtube.com/watch?v=ziJ8rFBRKgo) [HOT STAMPING](https://www.youtube.com/watch?v=6PD6c8gNGyA) [COLD STAMPING](https://www.youtube.com/watch?v=6PD6c8gNGyA) [HIGH-STRENGTH STEEL](https://www.youtube.com/watch?v=VNb7ZIx9s7s) [ROLLFORMING](https://www.youtube.com/watch?v=D2eK51EFnKI) STAMPING

Image /page/8/Picture/34 description: The image contains the word "ROLLFORMING" in a sans-serif font. The text is in all caps and appears to be a title or heading.

Image /page/8/Picture/35 description: The image shows a close-up of a collection of metal objects arranged in a grid-like pattern. The objects appear to be identical in shape and size, with a metallic sheen that suggests they are made of stainless steel or a similar material. The grid is set against a blurred background, which includes hints of orange and yellow, possibly indicating a factory or industrial setting. A white play button is superimposed on the image.

[LASER WELDED BLANKS](https://www.youtube.com/watch?v=Eakao-iNCAw) [PATCHWORK](https://www.youtube.com/watch?v=EH8sJVa5qmo)  BLANKS

Image /page/8/Picture/37 description: The image contains a close-up of industrial machinery with a play button overlayed on the bottom right.

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Image /page/9/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in dark blue. To the right of the word is a square containing a stylized graphic of two curved lines in white, set against a dark blue background.

2023

#### [2. GESTAMP GROUP](#page-4-0) **[2.1 About Gestamp](#page-5-0)** [2.2 Operational Excellence](#page-15-0) [2.3 Economic Strategy](#page-37-0)

BIW

Image /page/9/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked on top of each other.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### **Products**

Gestamp designs, validates, industrializes and produces a wide variety of automotive components.

A large part of these products are structural elements of the vehicle that act in the event of a crash, deforming appropriately, transforming the maximum amount of kinetic energy into deformation work.

In the same way, it designs and manufactures other components through which it seeks to achieve the required rigidity, reducing the degree of torsion under stress. This improvement in rigidity also contributes to improving the dynamic behaviour of the vehicle.

In addition to what has been mentioned, other highly relevant aspects to take into account in the development of products are comfort and durability.

We can group the family of products that Gestamp works on into three large groups:

Image /page/9/Figure/17 description: This image shows various car parts and their names. The parts are divided into three categories: Chassis, Mechanisms, and unnamed. The Chassis category includes structural assemblies, bumper systems, closures, gigastampings, battery boxes, and Class A. The Mechanisms category includes cross car beams, underbody, and upperbody. The unnamed category includes subframes, links, control arms, rear twist systems, hinges, powered systems, and door checks.

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Image /page/10/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, dark blue font. To the right of the word is a square containing a stylized graphic of a curved line with a circle at the end, also in a lighter shade of blue.

2023

#### [BODY IN WHITE \(BIW\)](https://www.youtube.com/watch?v=X0VrPV1zszM)

Body-in-White products (or BIW) form the structure that supports the vehicle and protects the driver and other passengers.

It participates in crash safety, aerodynamics, weight distribution and general structural integrity, in addition to defining the aesthetics of the vehicle.

The body must be designed so that, in the event of a crash, deformation occurs appropriately and the maximum amount of kinetic energy is transformed into deformation work. Certain parts have to absorb a large amount of energy in the event of an impact.

It is here, in the bodywork, where the use of hot stamping is key to lightening the vehicle and, in turn, exceeding the increasingly demanding safety regulations.

Gestamp has been revolutionizing the design and manufacturing of parts in this technology, being able to integrate functionality through solutions in which the latest generation materials are used.

Image /page/10/Picture/8 description: The image shows a close-up, low-angle shot of stacked metal beams or structures, possibly in an industrial setting. The beams are arranged in a repeating pattern, with each layer slightly offset from the one below it, creating a stepped effect. The metal has a dull, gray-blue tone, and the lighting is somewhat dim, casting shadows that emphasize the depth and texture of the structures. The beams are perforated with numerous small holes, adding to the visual complexity and suggesting a functional design. The overall composition is abstract and emphasizes the geometric patterns and industrial aesthetic of the scene.

The chassis comprises the under body of vehicles and includes systems, frames and related parts, such as front and rear axles and couplings, control arms and integrated couplings, which connect the body and the powertrain of a vehicle and support its weight.

These structures are essential for the dynamics, performance and safety of vehicles and have a particular influence as regards noise, vibrations, driving and impacts.

#### [CHASSIS](https://www.youtube.com/watch?v=MlnfKSSPhQo) [MECHANISMS](https://www.youtube.com/watch?v=zFht8noscp8)

These are mechanical components, such as hinges for doors, bonnets and boot doors, door checks and door hinges, which enable users to open and close a vehicle's bonnet, side doors, rear doors and boot, as well as pedal systems and hand brakes. Mechanisms also include powered systems that allow vehicle doors to open and close electrically and by means of remote activation. These components afford important functionalities and play a significant role in safety and comfort.

[6. Governance](#page-155-0)

[5. Social Dimension](#page-107-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[1. Letter from the Chairman](#page-2-0)

[INDEX](#page-1-0)

[4. Environmental Dimension](#page-59-0)

Image /page/10/Picture/16 description: The image shows an exploded view of a car's chassis and body panels. The chassis is in the center, with the battery pack and motor visible underneath. The body panels are arranged around the chassis, including the roof, hood, doors, and fenders. The image is likely intended to illustrate the construction of a car, or to show the different components that make up a car's body.

Image /page/10/Picture/17 description: The image shows a transparent car body with the chassis and battery pack visible. The chassis is located at the front and rear of the car, and the battery pack is located in the middle of the car.

Image /page/10/Picture/18 description: The image shows a transparent car with its internal components visible. The car's frame and chassis are clearly outlined, and various mechanical and electrical components are visible within the car's structure. The components are rendered in a darker shade, providing contrast against the transparent body of the car. The overall effect is an X-ray view of the car, revealing its inner workings.

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Image /page/11/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in a dark blue color. To the right of the word is a square box, also in dark blue, containing a stylized white graphic. The graphic consists of two curved lines that start close together and then diverge, with a small circle at the end of one of the lines.

#### [2. GESTAMP GROUP](#page-4-0) **[2.1 About Gestamp](#page-5-0)** [2.2 Operational Excellence](#page-15-0) [2.3 Economic Strategy](#page-37-0)

## ANNUAL REPORT 2023

Image /page/11/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked vertically, with a small space between each line.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### [DIES, PRESSES AND OTHER PRODUCTS AND SERVICES](https://www.youtube.com/watch?app=desktop&v=F_hF8Gza7zk&t=3s)

Gestamp has established broad in-house capabilities for developing and manufacturing dies, covering the entire value chain: design, machining, construction, commissioning, developing prototypes and tracking.

The company also offers its own press construction services and engineering technical services, independent of its specific manufacturing programmes.

In this way, Gestamp maintains within the Group an extensive experience across the entire value chain in hot and cold stamping processes, thus achieving optimal quality with a commitment to cost.

Image /page/11/Picture/15 description: The image shows a manufacturing plant with several robotic arms. There are two robotic arms on the left side of the image, and two robotic arms on the right side of the image. There is a long conveyor belt in the middle of the image. The conveyor belt is carrying a large object. The robotic arms are working on the object. The manufacturing plant is clean and well-lit.

12

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Image /page/12/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, dark blue font. To the right of the word is a square containing a stylized graphic of a curved line with a circle at the end, also in dark blue.

Image /page/12/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked on top of each other.

#### [1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

#### [3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

# BUSINESS STRATEGY

Gestamp's strategy is based on three key aspects: to be an innovative, competitive and sustainable company.

- **•** It aims to strengthen its position as an innovative supplier and move forward together with its customers, by offering them innovative solutions to build more sustainable mobility.
- **•** Committed to competitiveness by making good use of all the progress achieved in recent years in the area of Industry 4.0.
- **•** Making progress in terms of sustainability in all the ways that society is currently demanding.

With its sights set on the long term, and with the aim of maintaining its position as the global strategic partner for automotive manufacturers in BIW, Chassis and Machinery, Gestamp is rolling out a Transformation Plan to adapt its organizational and industrial structures, in preparation for the future and for any changes the market may dictate.

#### **Vision**

1

To be the automotive supplier that is most renowned for its ability to adapt business to creating value for the customer, while maintaining sustainable economic and social development.

#### **Corporate principles**

The client as the centre of the business

Operating Excellence as a regular practice 2

- Innovation as a means of progress 3
- Sustainability to ensure permanence in time 4

People as architects of success 5

Image /page/12/Picture/25 description: This image shows the exterior of a building with the word "Gestamp" on it. The building is made of stone and has large windows with blue frames. There is a silver pole in front of the building, and the word "Gestamp" is written in white letters above the entrance. The image is taken from a slightly low angle, and the building appears to be in an urban area.

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Image /page/13/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in blue. To the right of the word is a blue square containing a white graphic that resembles a stylized letter "G" or a curved line with a dot at the end.

[INDEX](#page-1-0)

#### [1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

## SOLID BUSINESS TRACK RECORD

Over its long history, Gestamp has become a global supplier with expertise in technology, standing out for its proximity to its customers, continuous innovation and strong internationalisation strategy. The company bases its strategy on leadership, globalisation, technological development, financial solvency and operational excellence.

Image /page/13/Figure/13 description: This image is a timeline of Gestamp Group's history and development. The timeline starts in 1997 with the "First Phase of Internationalization" and ends in 2022-2023 with "Strengthening Circularity". The timeline includes key milestones such as "Becoming a Multi-Technology Partner" (2002-2004), "Expansion into Emerging Markets" (2006-2009), "Focus on Products" (2010), "Focus on Asia" (2013-2017), "Gestamp IPO" (2017), and "Focus on New Mobility" (2017-2022). The timeline also highlights acquisitions, including HARD TECH, EDSCHA, THYSSENKRUPP METAL FORMING, MITSUI JV, and GESCRAP. The image also includes the Gestamp Foundation. Flags of different countries are shown at different points in the timeline, representing Gestamp's international presence and expansion.

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Image /page/14/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in a dark blue color. To the right of the word is a square containing a stylized graphic, also in dark blue. The graphic appears to be a curved line with a dot at the end, suggesting a connection or network.

## 2023 MILESTONES

Image /page/14/Picture/4 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked on top of each other.

[2. Gestamp Group](#page-4-0) [1. Letter from the Chairman](#page-2-0) [3. ESG Perspective](#page-49-0) [4. Environmental Dimension](#page-59-0) [5. Social Dimension](#page-107-0) [INDEX](#page-1-0) 2023 MILESTONES JANUARY FEBRUARY APRIL MAY JUNE JULY AUGUST SEPTEMBER OCTOBER NOVEMBER DECEMBER 12/01/2023 Auto Expo: Gestamp in India: fourth hot stamping line and focus on new mobility 02/02/2023 Future Fast Forward Presentation 11/04/2023 Standard & Poor's raises Gestamp's rating 09/05/2023 Annual General Meeting 15/06/2023 Appointment of director of communications 06/07/2023 VW Awards 28/08/2023 Supporting young talent: Gestamp sponsors Formula Student Spain for another year 14/09/2023 CAAR, FJRM and RSC Awards 02/10/2023 Gestamp joins with Catena-X to promote collaboration within the automotive industry 06/11/2023 FJRM Motor Star Award 14/12/2023 EnerTIC Award ESG culture promoted 18/04/2023 Gestamp participates in Auto Shanghai 03/02/2023 H.M. King Felipe VI visited Gestamp for its 25th anniversary 27/02/2023 Presentation of annual results 2022 21/07/2023 ArcelorMittal and Gestamp sign a circularity agreement 28/09/2023 Gestamp obtains ISO 45001:2018 certification 10/10/2023 Stellantis Awards 14/12/2023 FJRM re-elected as president of Sernauto 20/12/2023 Celebration of LM2023 10/10/2023 Gestamp and Tata Steel sign a partnership agreement to almost double the amount of recycled steel used in its production 20/06/2023 Celebration of Capital Markets Day

[7. Annexes](#page-199-0)

[6. Governance](#page-155-0)

26/10/2023 Gestamp and SSAB come together as partners to use fossilfree steel

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<span id="page-15-0"></span>Image /page/15/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in a dark blue color. To the right of the word is a square, also in dark blue, containing a stylized white graphic that resembles a curved line with a circle at the end.

Image /page/15/Picture/3 description: The image shows the word "INDEX" in a sans-serif font, with three horizontal lines above it. The lines are of equal length and are stacked vertically, with a small gap between each line. The lines and the word "INDEX" are in a teal color.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

# 2.2 Operational Excellence

Competitiveness, based on quality, efficiency and effectiveness, is one of Gestamp's strategic pillars. With our sights set on the long term, here at Gestamp we strive to continuously improve our processes and operations in order to be efficient at all levels. In a competitive sector, such as the automotive sector, standing out from the rest is necessary. Our operations and management have to be excellent.

Image /page/15/Figure/13 description: The image shows three numbers and their corresponding descriptions. The first number is 48, and its description is "INITIATIVES underway". The second number is 79, and its description is "PLANTS Group". The third number is +750, and its description is "PEOPLE actively working".

## TRANSFORMATION PLAN

In order to prepare for the future and the changes forced upon us by the world, as well as market uncertainty, Gestamp launched ATENEA two years ago, a comprehensive, ambitious transformation plan for continued growth and improvement which addresses key issues arising from the company's rapid growth.

This project remains a key milestone for the future of the Group and aims to build on everything that has made Gestamp successful in the past, in order to stay competitive in the future.

The transformation programme seeks to improve the efficiency and effectiveness of corporate functions and operational layers in processes, systems, organisation and culture.

The programme was launched in September 2021 with 45 initiatives, signifying the first steps of this model of excellence. This live project saw the launch of a second wave of 25 initiatives at the start of 2022, this time put forward by the organisation and led by talent from all regions. Since then, the launch of initiatives has continued as required by the organisation and its different functions, with a total of 92 initiatives launched over the two years of the programme. The transformation plan has, therefore, become a programme driven and led by the organisation itself.

There are currently 48 initiatives underway, with multidivisional teams working together to design the best solution, with an expected impact of nearly 80% in plants and divisions. A total of 79 of the Group's plants are currently involved and more than 750 people are actively working on the ATENEA programme.

This ambitious plan is part of Gestamp's strategy and will be crucial for overcoming the challenges of the future, aiming to ensure operational excellence in its factories and the transition towards corporate functions with greater added value.

Image /page/15/Picture/21 description: The image shows a Newton's cradle, a device that demonstrates conservation of momentum and energy using a series of swinging spheres. The cradle consists of five identical spheres suspended in a straight line from a frame. One sphere is raised and released, striking the stationary spheres and transmitting the force through the line, causing the sphere at the opposite end to swing upward.

Image /page/15/Picture/22 description: The image shows a document with a seal on it. The document is white with blue lines, and the seal is blue with a white center. The document is slightly curled at the top right corner.

Image /page/15/Picture/23 description: The image shows a blue magnifying glass with a white background. The magnifying glass has a thick blue outline and a thinner blue outline inside the lens.

DRIVEN BY THE ORGANISATION

RULED WITH A CLEAR GOVERNANCE MODEL

MONITORED WITH FULL TRANSPARENCY

Image /page/15/Picture/27 description: A large group of people are posing for a photo in front of a building with the word "ATENEA" on it. The group consists of men and women of various ages, and they are dressed in business casual attire. Some people are standing, while others are sitting or kneeling. The building behind them is made of stone and has a modern design. There are plants growing on the side of the building. A sign that says "ROOM 1" is visible on the right side of the image.

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Image /page/16/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in a dark blue color. To the right of the word is a square containing a stylized image of a curved line with a circle at the end, also in dark blue and white.

Image /page/16/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal lines above it. The lines are also blue and appear to be of equal length and thickness. The word "INDEX" is in a simple, sans-serif font.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### **ATENEA, a global transformation plan**

ATENEA seeks to improve **efficiency and effectiveness** across the organisation in terms of processes, systems, organisation and culture, covering corporate, operational and plant functions. 1

#### ATENEA promotes **Gestamp's values and strategic**  2

**objectives as key pillars** to support every transformation project, given their fundamental contribution to the Group's recent growth success.

- ATENEA constitutes a **multidisciplinary ecosystem** that brings together operations, corporate functions, IT systems and data, organisation and culture to meet Gestamp's needs. 3
- ATENEA is an **incremental value creation programme** that works through the launch of cross-cutting transformation initiatives and projects, as well as a monitoring system with KPIs that are transparent to the organisation. 4

ATENEA has a **data strategy** as its cornerstone, geared towards maximising business value through the use of data, and a system of governance that ensures its proper management and preserves its quality. 5

ATENEA's transformation projects and governance model seek to ensure a positive impact on culture, the organisation and ESG:

#### CULTURE

- **•** New transparent and uniform approaches to working across all geographical areas and functions.
- **•** An ecosystem of collaboration and coordination between departments and operational levels.
- **•** Formalisation of management processes (e.g. commitment to results, monitoring, accountability).
- **•** Clear communication mechanisms.
- **•** Promoting global talent by identifying and empowering the leaders of tomorrow.

#### ORGANISATION

- **•** Strengthened leadership with shared objectives.
- **•** New roles and responsibilities in relation to the governance model for transformation projects.
- **•** A greater level of integration and communication between corporate divisions and functions.

#### ESG (ENVIRONMENTAL, SOCIAL AND GOVERNANCE)

**•** Ensure alignment of ATENEA with ESG

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Image /page/17/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in a dark blue color. To the right of the word is a square containing a stylized graphic of two curved lines in white, suggesting movement or connectivity. The square is also in the same dark blue color as the text.

#### [2. GESTAMP GROUP](#page-4-0) [2.1 About Gestamp](#page-5-0) [2.2 Operational Excellence](#page-15-0) [2.3 Economic Strategy](#page-37-0)

#### ANNUAL REPORT 2023

Image /page/17/Picture/3 description: The image shows the word "INDEX" in a sans-serif font, with three horizontal lines above it. The lines are of equal length and thickness, and are stacked vertically with small gaps between them. The word "INDEX" is centered below the lines and is in a slightly darker shade of blue than the lines.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

# QUALITY

In the automotive industry, each part that makes up the final product is important in ensuring the correct functioning of the manufacturer's assembly line, the quality of the vehicle and even, for some products, the safety of users. For those reasons, the industry is a pioneer in the application of quality systems throughout the value chain. Gestamp's customers demand flawless products in the required quantity and by the agreed deadline to ensure both the quality of the final product and its proper functioning.

#### **Quality Systems**

All of Gestamp's production plants have developed and maintained a quality management system with the international certifications required by Gestamp's customers. These certifications are mainly in accordance with IATF 16949 (99% of Gestamp's production plants with at least one year of records), with the remaining 1% representing a single plant that only supplies customers who do not require this certification.

The management systems of each and every one of the plants are based on Gestamp's minimum quality management system, known as GQS (Gestamp Quality System), which ensures a minimum degree of uniformity across all of them.

This management system aids Gestamp's continuous improvement by focusing on the customer and promoting prevention over detection, resulting in fewer defects and less waste in the supply chain, in a safe and sustainable manner.

However, sometimes incidents may arise among clients, in which case predefined response mechanisms are activated and measures are taken so that the causes that produced these incidents are not repeated. These mechanisms are common in the automotive sector, such as troubleshooting methods, such as 8D, including root cause investigation methods such as 5W, 5M or Ishikawa or warranty management methods, including NTF Non-Trouble Found, to name a few. These methodologies are a standard in the sector, accepted and required by all clients.

These management systems are ever-evolving, capable of adapting to industry changes and seeking continuous improvement. In 2023, work continued to define and roll out the new system for managing costs of quality, launched in 2021, with extensive use of available IT tools. Two new sprints were added to those already developed in 2022 related to the costs of selection and rework processes with Gestamp resources and supplier charges.

Image /page/17/Picture/19 description: The image shows a close-up of a machine with a robotic arm and a laser beam. The robotic arm has a black circular head with the word "QUISS" printed on it in yellow letters. A red laser beam is emitted from the center of the head, directed towards a metallic surface. The machine is made of metal and has various components such as wires, cables, and sensors. The background is blurred, but it appears to be a factory or industrial setting.

Image /page/17/Picture/20 description: The image shows a close-up view of the engine compartment of a vehicle. The engine and its various components are visible, including hoses, wires, and other mechanical parts. The engine is set against an orange background. The image is taken at an angle, with the front of the vehicle on the left side of the frame and the engine angled towards the right.

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Image /page/18/Picture/0 description: The image shows the word "Gestamp" in a bold, sans-serif font, colored in a dark blue. To the right of the word is a stylized graphic, also in dark blue, consisting of a curved line that loops around to form a circle at one end, resembling a stylized "G" or a hook.

#### [2. GESTAMP GROUP](#page-4-0) [2.1 About Gestamp](#page-5-0) [2.2 Operational Excellence](#page-15-0) [2.3 Economic Strategy](#page-37-0)

#### ANNUAL REPORT 2023

Image /page/18/Picture/3 description: The image shows the word "INDEX" in a sans-serif font, with three horizontal lines above it. The lines are dark teal, and the word "INDEX" is in a slightly darker shade of the same color.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### **Customer-Oriented Quality**

Gestamp is committed to building solid, long-lasting relationships based on trust with customers. To achieve this, continuous dialogue is encouraged, which serves to better identify and meet their needs.

#### ANNUAL MEETINGS

Annual meetings are held at the highest level with customers in order to review short-term results and forecasts; longer-term prospects, trends and opportunities are also discussed at these meetings. Moreover, the development of common strategies, new technologies and any needs raised by the customer are considered.

#### DAY-TO-DAY RELATIONS

Direct contact is maintained with the customer regarding day-to-day activities, in both the industrialisation phase and the mass production phase. During the industrialisation phase of new products, constant contact is maintained with customers, with particularly close monitoring of those projects that are considered strategic in order to ensure an appropriate response.

Our production plants maintain daily contact with the facilities of our customers. This contact is more operational in nature, seeking to provide a flexible response to the requirements and needs of the customer, and resolve any issues that may arise on a day-to-day basis.

#### CUSTOMER AUDITS

The customer, in turn, visits the plants from time to time to carry out audits and contribute towards continuous improvement, together with periodic assessments which allow Gestamp to determine its level of quality in comparison with the customer's other suppliers, and to take measures in areas where there may be room for improvement.

Each customer decides on the frequency of these audits, which is usually yearly, but can be adapted according to the circumstances. Gestamp always works with the customer by arranging these visits, providing the information required to ensure the audit is conducted properly.

Image /page/18/Picture/21 description: In a well-lit industrial setting, three men are working with metal components. The man on the left wears a two-tone shirt, safety glasses, and orange gloves, standing near a metal surface. The man in the middle, wearing a gray shirt and gloves, is positioned near several metal components. The man on the right, wearing ear protection, is also working with the metal components. Above them, a screen is mounted on the wall. The scene suggests a manufacturing or assembly process.

#### **Monitoring and Internal Control**

Monitoring the quality performance of parts delivered to customers is undertaken through internal audits on products, processes and systems, as well as through the use of indicators at all levels of the organisation (plants, regions, divisions and corporations).

The incidents that occurred during the year were resolved between the automotive manufacturers and the Group, which successfully managed the incidents within the optimal time frames. This ensured that end users did not face any inconvenience and no vehicle in the possession of an end user was recalled for a revision for any reason relating to the products supplied by the Group in 2023.

The manner in which said incidents were handled was the key element in resolving them. As such, there was no need to resort to the insurance guarantees that the Group has taken out.

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Image /page/19/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, dark blue font. To the right of the word is a square containing a stylized graphic of a curved line with a circle at the end, also in a lighter shade of blue.

Image /page/19/Picture/3 description: The image shows three horizontal lines stacked on top of each other, with the word "INDEX" written below them. The lines and the word are in a blue color.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### **Handling of Safety-Critical Components**

Gestamp has a specific directive for handling safety-critical components, understood as those that, according to the VDA (Verband Der Automobilindustrie), contain a safety or regulatory feature, i.e. that could pose an immediate risk to the life and limb of the occupants or a breach of current legislation. Some examples include the vehicle's steering, suspension or impact resistance in the event of a collision. This directive also outlines the specific requirements for maintaining records associated with this type of component, which are key to taking potential action should any adverse events occur. Furthermore, there are other company-wide directives that form part of Gestamp's quality management system, specifying minimum requirements so that design and manufacturing processes can manage factors that may affect safety-critical features in the most effective way possible.

Image /page/19/Picture/13 description: A woman wearing a dark blue t-shirt with the word "Gestamp" and a logo on the back is standing in what appears to be a factory or industrial setting. She has curly brown hair and is wearing gray protective sleeves on her arms. The background is predominantly yellow, with various pieces of machinery and equipment visible. There are also safety signs on the wall. The overall lighting is bright, and the focus is on the woman and the text on her shirt.

#### **Project Quality**

In order to adequately manage risk right from the project phase, the company's project quality department is leading a company-wide initiative related to risk prioritisation based on an FMEA cycle (Failure Mode and Effects Analysis), one of the most powerful standards in the industry.

To this end, an ambitious programme is underway to fine-tune its use, in terms of both method and through the development of an IT tool, which will improve the detection and analysis of potential faults in product design or the production process, as well as their causes. It will also allow for the relevant measures to be taken later in the phases of mass production control.

The tool's development was completed in 2022 and it was launched in 2023 for start-up projects, reaching a total of 1,753 active users in the new system with 270 open projects, including 21 design FMEAs, 1,045 process FMEAs and 811 control plans by the end of 2023. Furthermore, standardisation has also continued for primary technologies (hot and cold stamping, welding, painting, machining and bonding) to be reused across all plants, thus capitalising on all the expertise that already exists within Gestamp.

> 1,753 270 in the new system

Image /page/19/Picture/19 description: The image shows two numbers and their corresponding labels. The number 1,753 is labeled as "ACTIVE USERS", and the number 270 is labeled as "OPEN PROJECTS".

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Image /page/20/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, dark blue font. To the right of the word is a square containing a stylized graphic of a curved line with a circle at the end, also in a lighter shade of blue.

#### **Process Quality**

The Process Quality department provides an organisationwide set of standards and methods linked to the most critical technologies and production processes within the Group, focusing in particular on special processes (those in which the part has to be destroyed to ensure that the product is up to standard, such as parts involving arc welding).

Its aim is to align all of Gestamp's production activity with the customer's quality requirements and international standards in order to maximise the quality and efficiency of said activity. Thus, Gestamp ensures compliance with the customer's requirements throughout every process, from the early phases of production to delivery of the final product. In 2023, a

specific department for Quality 4.0 was set up, with the aim of increasing the added value of 4.0 tools. A number of projects are set to be deployed over the next few years, one of which relates to merging product and process characteristics for chassis and battery box products.

So far, in addition to the production process standards defined in previous years such as arc welding, hot stamping, leather pieces, resistance welding and painting, specific processes have been added for the manufacture of battery boxes, such as machining and bonding. Work has also been carried out on subprojects stemming from the main projects. During 2023, the major chassis plants were also audited according to the reference framework

created the previous year, including system aspects and all the relevant technology.

In 2023, part of the certification process of the main previously indicated technologies of the plants has been resumed, prioritizing the evaluation of the chassis plants. In 2024, it is planned to continue evaluating the implementation of the already defined standards in production plants.

#### INCREASE THE EFFECTIVENESS OF QUALITY CONTROL SYSTEMS

Image /page/20/Figure/10 description: The image shows a diagram of control systems. The top level is "CONTROL SYSTEMS". The next level contains "Gestamp quality control ARC welding", "Gestamp quality control Hot stamping", "Gestamp quality control Resistance welding", "Gestamp quality control E-Coating", and "Gestamp chassis Certification Audit". The next level contains "Gestamp quality control Skin parts", "Gestamp quality control Machining", "Gestamp quality control Bonding", and "Process control Goblal Technology strategy". The final level contains "INCLUDING HARMONISATION ACTIVITIES", "INCLUDING BATTERY BOX ACTIVITIES", and "CONTROL EQUIPAMENT STRATEGY".

#### ANNUAL REPORT 2023

Image /page/20/Picture/12 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked on top of each other.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

#### [3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

{21}------------------------------------------------

#### [2. GESTAMP GROUP](#page-4-0) [2.1 About Gestamp](#page-5-0) [2.2 Operational Excellence](#page-15-0) [2.3 Economic Strategy](#page-37-0)

#### ANNUAL REPORT 2023

Image /page/21/Figure/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked vertically.

#### [1. Letter from the Chairman](#page-2-0)

#### [2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### **Global Control Equipment Project**

Image /page/21/Figure/12 description: The image contains the words "GLOBAL PROJECT" and "OF CONTROL PROCESS TECHNOLOGIES" in a vertically stacked format. The text is in a sans-serif font and a dark blue color.

Image /page/21/Figure/13 description: The image shows a diagram with the following elements: "Splits / thinning", "Welding quality", "Aspect", "Mechanical properties", and "Dimensional" are arranged horizontally and connected to a horizontal bar above them. Below these elements are the numbers 1, 2, and 3, each associated with a phrase. "1" is labeled as "STATE OF THE ART", "2" is labeled as "EXISTING TECHNOLOGIES AND LIMITS", and "3" is labeled as "FUTURE INVESTMENT GUIDELINES". An arrow connects "STATE OF THE ART" to "EXISTING TECHNOLOGIES AND LIMITS", and another arrow connects "EXISTING TECHNOLOGIES AND LIMITS" to "FUTURE INVESTMENT GUIDELINES".

**Work on the global control equipment project continued throughout 2023 (see the evolution in previous Annual Reports)**. The project had established several lines of action, such as: assessing the inventory of equipment available in production plants around the world, reviewing and identifying the suppliers of this technology and their limits and, finally, drafting complete guides for each equipment family. Finally, a database is also available to manage all the equipment and thus optimise analysis, from the technical point of view of the plants' needs, where the feedback from the plants is being implemented.

Image /page/21/Picture/15 description: The picture shows a factory with a production line. There are several robotic arms in the background, and a piece of metal is being worked on in the foreground. The factory is well-lit and appears to be clean and organized.

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Image /page/22/Picture/0 description: The image shows the word "Gestamp" in a bold, dark blue font. To the right of the word is a stylized graphic, also in dark blue, that resembles a curved line with a small circle at the end.

Image /page/22/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked vertically, suggesting a menu or list icon.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

# INDUSTRY 4.0 MODEL

For years, Gestamp has been working on an Industry 4.0 model with the aim of creating more efficient and flexible production plants with more consistent and reliable processes, using data analysis and intelligent processes to ensure that the right information reaches the right people at the right time.

During this time, over 100 IoT projects have been set in motion, covering Gestamp's main production processes such as hot stamping, cold stamping, chassis manufacturing and spot welding. Furthermore, more than 50 projects have been virtualised, ranging from sophisticated production lines to entire factories. Also, 9 applications have been developed for maintenance, logistics, quality and energy efficiency tasks, which facilitate day-to-day plant management.

Gestamp has been able to develop these projects thanks to the work of multidisciplinary teams made up of experts in industrial and technological operations, digital developers and new professional profiles specialising in data management. This has ensured greater knowledge in the areas of digital technology, IoT, big data and virtualisation, as well as in other fields such as artificial intelligence, collaborative robots, resource orchestration, computing, etc. The majority of these technologies are being used in projects currently under way.

Thanks to the experience we have gained over the years, the Digital Factory is now a reality at Gestamp. A Digital Factory where everything is connected—products, machines, systems and people—, sharing information in real time in a transparent way and ensuring that the factories can operate efficiently at all times.

Image /page/22/Picture/16 description: The image shows a robotic arm in an industrial setting. The arm is orange and black, and it is positioned next to a large white machine. There is also a blue and silver machine on wheels in the background. The floor is light gray, and the walls are white. The image is well-lit and in focus.

Gestamp is currently in the process of evolving and structuring all the technologies that are moving towards the concept of smart manufacturing.

Above all, this means ensuring integration and standardisation among them, so that they come together in an environment governed to perfection. This will allow us to design and deploy a longer-term strategy.

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Image /page/23/Picture/0 description: The image shows the word "Gestamp" in a bold, sans-serif font. To the right of the word is a blue square containing a stylized graphic of two curved lines that form a partial circle with a small circle at the end of each line.

#### [2. GESTAMP GROUP](#page-4-0) [2.1 About Gestamp](#page-5-0) [2.2 Operational Excellence](#page-15-0) [2.3 Economic Strategy](#page-37-0)

## ANNUAL REPORT 2023

Image /page/23/Picture/3 description: The image shows a graphic with three horizontal lines stacked on top of each other. Below the lines, the word "INDEX" is written in a sans-serif font.

#### [1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

#### [3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

Meanwhile, in 2022 and 2023 greater impetus was given to all aspects related to change management, the creation of digital culture and the strengthening of teams and structures designed specifically to implement the strategic digitalisation plan. This involves a major effort in terms of training and transforming professional profiles that specialise in digital systems, defining positions and duties allocated across the various regions and plants, and fostering a robust community within Gestamp that upholds its strategy and governance on a global level.

In terms of new developments, tremendous effort is going into systematising and standardising relationships with both strategic and service partners in order to streamline all these efforts and boost progress on the roadmap towards a smart factory.

In addition, by combining experience in digitalisation and advanced engineering, Gestamp has developed a new concept of flexible assembly, allowing for the production of different products on the same line. Thus, we are moving one step closer to digital industrialisation, evolving from product-specific and linked systems to generic and individual systems where movements are carried out by AGVs (guided vehicles) instead of static robots.

With all this, in 2023, significant effort has gone into advancing the creation of a federated digital ecosystem, where the i4.0 community has increasingly clear standards for the contribution, development and implementation of digital tools. As such, the degree of customisation and closeness to the needs of each plant has significantly increased, meaning the acceptance and adoption of such tools has also increased.

On the other hand, Gestamp has also clearly driven forward the tools and structures needed to develop artificial intelligence (AI) and apply it to the most ambitious industrial challenges,

in terms of efficiencies, energy consumption and quality. In 2024, supported by all the developments in 2023, the aim is for Gestamp to be able to successfully apply these technologies in multiple contexts, setting off on the path towards industryspecific AI in a fully regulated environment, keeping knowledge and property within the organisation.

All this allows Gestamp to deal with the uncertainties that the automotive industry is facing and to be more adaptable to change. Gestamp is actively working on a model of a connected, smart, virtualised, safe and scalable factory that can be flexibly, swiftly and efficiently adapted to the constantly changing needs of the industry.

Image /page/23/Figure/18 description: The image shows a diagram that illustrates the transition from a digital factory to a smart factory. On the left side, under the heading "FROM DIGITAL FACTORY...", there are three icons with corresponding descriptions: a network icon labeled "Connected" with the text "100% ASSET UTILIZATION" below it, a magnifying glass icon labeled "Transparent" with the text "CAPITAL OPTIMIZATION" below it, and a lightbulb icon labeled "Efficient" with the text "DECREASE OPERATIONAL COSTS" below it. On the right side, under the heading "...TOWARDS THE SMART FACTORY", there are three more icons with descriptions: an eye icon labeled "Virtual" with the text "CUT LEAD TIMES" below it, a settings icon labeled "Autonomous" with the text "OPTIMIZE RAW MATERIAL UTILIZATION" below it, and a computer monitor icon with stars on the screen labeled "Flexible" with the text "100% CUSTOMER SATISFACTION" below it.

Image /page/23/Picture/19 description: The image is a digitally enhanced graphic with a futuristic and technological theme. It features a robotic arm on the left side, partially obscured by a dark, angled overlay that reveals binary code. The background is a blurred, abstract cityscape with a blue tint. Overlaid on this are several circular icons connected by lines, suggesting a network or system. These icons include symbols representing a factory, a flame, Wi-Fi, and artificial intelligence (AI). The overall effect is a blend of industrial automation and advanced digital technology.

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Image /page/24/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in a dark blue color. To the right of the word is a stylized graphic, also in dark blue, that resembles a curved line with a small circle at the end, suggesting movement or connectivity.

#### [2. GESTAMP GROUP](#page-4-0) [2.1 About Gestamp](#page-5-0) [2.2 Operational Excellence](#page-15-0) [2.3 Economic Strategy](#page-37-0)

#### ANNUAL REPORT 2023

[INDEX](#page-1-0)

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

## INNOVATION AND R&D KEY FACTORS

With an eye on the long term, Gestamp seeks to accompany its clients in the new challenges they face and does so with innovative solutions that it deploys in the designs of its clients' vehicles thanks to co-development.

#### **Innovation**

#### INNOVATION AS A MEANS OF PROGRESS

Research and development is a priority at Gestamp. Through innovation, we seek to stay one step ahead of new technological trends and to offer standout products that meet efficiency, weight, cost, quality, comfort, safety and sustainability requirements.

Gestamp develops innovations under a program that groups together projects that must result in proprietary solutions that offer differential value to the market.

Within this framework, Gestamp evolves in the areas of technologies and product solutions that contribute to maintaining technological leadership within the sector.

With 13 R&D centres around the world, Gestamp understands that innovation is essential to obtain added value and achieve a distinguished position in the automotive sector.

Gestamp supports its customers in the design and manufacturing of products, from the initial idea to mass production. This cooperation, which sometimes lasts up to 5 years before a vehicle is launched, enables to respond to current expectations and also to jointly develop concepts, technologies and solutions for the future.

In recent years, Gestamp has made significant investments to develop and extend the R&D area, which facilitates a strategic and trusting relationship with customers.

Thus, this year Gestamp has developed a greater number of projects based on future models, reaching 504 co-development projects in body in white, chassis and mechanisms.

At the end of 2023, Gestamp had a team of almost 1,700 people dedicated to innovation, both in the 13 R&D centers and in the production plants. In many projects, not only R&D engineers are involved, but also stamping, metrology, welding and quality engineers, whose contribution is very valuable throughout the development, connecting the development of products and processes in the conceptual phase. initial.

#### CO-DEVELOPMENT COLLABORATION WITH OEM

Image /page/24/Figure/24 description: The image shows a diagram of a product development process, starting with OEM and progressing through Advanced OEM Project, Project Development, Project Industrialization, and finally Production. Underneath the process flow are three categories: Cost Optimization, Wegth Reduction, and Safety Increase. Cost Optimization leads to Process feasibility, Wegth Reduction leads to Optimized design and Innovative concepts, and Safety Increase leads to innovative technologies. At the bottom of the image, it states "504 CO-DEVELOPMENT programmes in 2023".

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Image /page/25/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in a dark blue color. To the right of the word is a stylized graphic, also in dark blue, that resembles a curved line with a small circle at the end, suggesting movement or connectivity.

Image /page/25/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked vertically.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### **Key R&D factors for Gestamp**

#### SAFETY

B-PILLAR

FRONT SIDE MEMBER

Gestamp works to develop increasingly safer vehicles, focusing on identifying formulas that ensure greater safety for both vehicle occupants and pedestrians. Gestamp is a pioneer in the manufacture of products using hot stamping, one of the most advanced technologies for improving performance and passenger safety in the event of a collision.

In addition, high-strength steel products significantly improve the ability of vehicles to withstand impacts. Improvements in the energy absorption of Gestamp's products, both chassis and body in white, increase the passive safety of vehicles.

In turn, technologies such as hot stamping, where Gestamp is the market leader, make it possible to meet the most stringent safety requirements and withstand vehicle-to-vehicle crash tests. Gestamp is developing new hot stamping products, such as extreme size parts that will increase safety performance, integrate more functions and reduce assembly time for our customers.

Likewise, our mechanisms unit is developing and producing passive safety solutions and achieving good results in improving pedestrian safety thanks to hood hinges.

BATTERY BOX

REAR SIDE MEMBER

ROCKER REINFORCEMENT

CHASSIS

BUMPER BEAM

ONE PIECE FLOOR

OVERLAP PATCH DOOR RING

## High-strength steel products significantly improve the ability of vehicles to withstand impacts.

Image /page/25/Picture/18 description: The image shows a car's components. The components are skin panels, car cross beam, and chassis. The skin panels are the outer body of the car. The car cross beam is a structural component that runs across the width of the car. The chassis is the frame of the car.

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Image /page/26/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, dark blue font. To the right of the word is a square containing a stylized graphic of a curved line with a circle at the end, also in a lighter shade of blue.

Image /page/26/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked on top of each other.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### LIGHT WEIGHTING AND REDUCED EMISSIONS

Gestamp is continuously working to develop lighter vehicles. Weight reduction is one of the company's main areas of research. It is one of the most demanded requirements in the automotive sector due to the need to improve fuel efficiency and reduce CO2 emissions.

Chassis and body components are essential for meeting emissions targets, as they make up around 70% of the vehicle's total weight.

Also, as part of the electrification trend in the industry, the increase in vehicle mass due to batteries has reinforced the importance of lightweighting. Weight affects the range of the electric vehicle, and until the full decarbonisation of the electricity grid takes place, its consumption will continue to play an important role in the CO2 emissions of vehicles during the use phase.

Therefore, Gestamp provides innovative solutions to offer the best weight reduction results and meet the most stringent requirements of the sector. Extensive experience in hot stamping technology and the development of multi-material solutions have led to various alternatives for lighter vehicles.

In order to take into account the environmental impact of, for example, weight reduction, life cycle analysis (LCA) of products is carried out as a strategic element in the design phase. As explained in the Circular Economy chapter, the carbon footprint of the different processes carried out at Gestamp and the materials used in the production phase are some of the main variables analysed in the study. For example, it has been found that the lightening of parts and the use of a smaller amount of raw materials are two of the factors that most influence the reduction of the carbon footprint. This is due to the high impact

of the extraction phase of the materials used, in addition to the use phase of the vehicles explained above.

#### COMFORT

Driving experience, comfort and dynamism are some of the key aspects that users take into account. Gestamp develops solutions that improve comfort and convenience when using the vehicle, such as components that reduce the noise and vibration of the vehicle, electrical systems that allow doors and trunks to be automatically raised and held or doors opened with the greatest safety thanks to a complete system of sensors that avoid impacts against obstacles.

The main criteria for a user's vehicle purchase include driving experience, comfort and dynamics. This is leading to a rise in demand for components such as electric liftgate systems, noise and vibration reducing components, electric door systems, power assist steps and noise reducing tyres.

At Gestamp we have been working on these components for many years and we are at the forefront within the sector. Originally and to date, they are components that are mounted on high-end vehicles and SUVs, but it is expected that in the coming years they will become a standard in all types of cars.

Image /page/26/Picture/22 description: A light blue car is driving on a road. The car is a hatchback, and it has a sleek, modern design. The road is paved and has a white line down the center. The sky is blue with some clouds.

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Image /page/27/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in a dark blue color. To the right of the word is a square containing a stylized graphic of a curved line with a circle at the end, also in dark blue.

2023

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

[1. Letter from the Chairman](#page-2-0)

[INDEX](#page-1-0)

[4. Environmental Dimension](#page-59-0)

#### GESTAMP'S EV CONCEPT

Electrification is an unstoppable trend for the automotive sector, with diverse factors driving it forward, the most important of which is the growth in urban populations and the improvement in the air quality there.

Gestamp's strategy remains to constantly accompany its customers in order to offer them the best innovations for their vehicles and, in the case of electric vehicles (EV), to help them in the transition to electric vehicles.

The Technology and Innovation Office teams develop different solutions for the electrification of different mobilities.

The Electric Vehicle area and Gestamp's R&D teams are offering various solutions, such as the new electric battery box, chassis components integrating the new electric motors. These components meet traditional specifications like durability, rigidity, and strength, but they need to be optimised in terms of noise transmission and energy absorption during collisions due to the specific architecture of battery electric vehicles (BEVs). Additionally, innovations in the use of different materials are being pursued to reduce weight and provide more suitable solutions for new electric platforms. The motto is: the right materials in the right place.

The impact behaviour is different in a battery electric vehicle (BEV), mainly due to the higher weight and low centre of gravity of the battery system. In addition, the higher mass of the batteries also contributes to the potential energy of the vehicle in case of a collision. Gestamp has developed a wide range of body in white products to increase safety and protect battery passengers in the event of a collision.

It should be noted that the company has collaborated in different types of mobility beyond electrification itself. Thus, projects have been developed for cars that cover long distances, small cars for cities, and concepts referred to as "urban people mover" and "last mile delivery".

Image /page/27/Picture/9 description: The image shows a mechanical assembly, possibly part of a vehicle's chassis or drivetrain. It features a central component that appears to be a motor or gearbox, mounted within a frame structure. The frame is made of metal and has multiple mounting points, suggesting it is designed to be attached to other parts of a vehicle. The assembly is depicted in a neutral gray color, and the image has a clean, technical illustration style.

EV SUBFRAME WITH ELECTRIC MOTOR INTEGRATION

No text detected in this image.

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Image /page/28/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in blue. To the right of the word is a blue square containing a white graphic that resembles a stylized "G" or a curved line with a circle at the end.

2023

#### **Gestamp's main innovations**

#### GESTAMP LABORATORY FOR THE VALIDATION OF AUTOMOTIVE COMPONENTS

G-Lab, Gestamp's virtual laboratory for the validation of automotive products, is an R&D programme that develops digital prototypes of its own vehicles in order to validate the behaviour of new body in white components and technologies.

This is the most relevant safety-focused project at Gestamp, as G-Lab is based on prevention as the main pillar throughout the design, development and manufacturing process of vehicle components.

G-Lab was created with the aim of obtaining the best results in virtual validation of all types of collisions and impact scenarios for the different vehicle segments. For this reason, the program allows for full vehicle collision simulations during the co-development process with customers.

[2. Gestamp Group](#page-4-0)

[1. Letter from the Chairman](#page-2-0)

[INDEX](#page-1-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

Internal capacities for undertaking vehicle crash simulations

Thanks to G-Lab, Gestamp offers the best body in white solutions in new mobility scenarios, focusing on safety, lightness and sustainability. These models offer the possibility to perform much of the development and testing in the virtual environment and thus accelerate the design, testing and approval phases.

Gestamp has numerous virtual models of combustion engine vehicles (ICE), plug-in hybrid electric vehicles (PHEV) and battery electric vehicles (BEV). These models allow the impact of new technologies, new designs or materials on the body and chassis to be predicted and assessed in terms of weight, performance and cost.

Image /page/28/Picture/15 description: The image contains three views of a silver car that has been damaged in a collision. The first view shows the car from the side, with damage to the driver's side door. The second view shows the car from the front, with extensive damage to the front end. The airbags have been deployed. The third view shows the car from the side, with damage to the front driver's side.

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Image /page/29/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in blue. To the right of the word is a blue square containing a white graphic of three curved lines that resemble a stylized "G" or a swoosh design.

Image /page/29/Figure/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked vertically.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

Image /page/29/Picture/11 description: The image shows a close-up of a silver-colored car hood with a pattern of circular indentations. The hood is positioned in what appears to be a manufacturing or assembly line setting, with robotic arms and machinery visible in the background. The hood is mounted on a blue platform, and there are various wires and cables connected to it. The lighting in the scene is bright, highlighting the metallic surface of the hood and the surrounding equipment.

#### NEW MATERIALS

In a bid to develop new, lighter and safer products, Gestamp is researching new materials. The company believes that the kind of structural materials used will gradually change in the years to come, with an increase in the use of aluminium, carbon fibre, new high-strength steels and multimaterial hybrid structures.

- **•** High and ultra-high-strength steels: The application of Advanced High Strength Steel (AHSS) and Ultra High Strength Steel (UHSS) helps to reinforce vehicles to protect the passenger compartment in the event of an accident.
- **•** Aluminium: The use of aluminium allows weight reduction in high-end models by applying aluminium solutions in the cladding parts and doors of the vehicle. Gestamp already manufactures battery cases with the most advanced crash alloys.
- **•** Composite materials: Some manufacturers have used composite materials to reduce the weight of high-end vehicles and improve their efficiency. Due to the great need to reduce the weight of electric vehicles, more and more applications of these materials are being found.
- **•** Multi-material structures: Companies such as Gestamp are investing in new technologies and machinery to create multi-material structures as part of the existing manufacturing process and value chain. This formula supports the philosophy of the right material in the right place and opens up a wide range of innovations to respond to the lightweighting of parts to meet the need to reduce fuel consumption and emissions.

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Image /page/30/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font, with the letters in a dark blue color. To the right of the word "Gestamp" is a stylized graphic, also in dark blue, that resembles a curved line with a circle at the end.

2023

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

[1. Letter from the Chairman](#page-2-0)

[INDEX](#page-1-0)

[4. Environmental Dimension](#page-59-0)

#### TECHNOLOGICAL DEVELOPMENT

Gestamp's R&D teams are constantly developing new technologies in line with customer needs in order to increase performance or reduce weight. One example is the launch of new advanced cold-formed steels with improved strength properties, which enable weight reduction by applying the knowledge and experience gained in the forming and development of chassis products. Development teams focus on innovative design approaches to deliver optimised highperformance products; from increasing service life by design and minimising weight through in-house optimisation tools coupled with manufacturing expertise to achieve 10-15% mass reduction, to the introduction of new paint processes to improve corrosion protection.

In the hot-stamping field, development of the new Ges-Multistep technology continued, optimising the process for different types of steel, including zinc materials with a new improved anti-corrosion coating.

## New processes have also been developed that allow hot stamping of material with 25% higher strength.

This material is manufactured using a laser post-treatment that gives it sufficient ductility to obtain the best results in impact tests.

Three partial cooling methods have been employed to obtain different mechanical properties across a part and achieve better shock performance. And new degrees of hardness/absorption have been achieved that allow for even better deformation control.

Gestamp has managed to produce parts with "soft zones" that have different degrees of hardness and absorb the force of impact, with different production processes:

- **•** During forming: in the die/forming tool.
- **•** After forming: post-treatment by alternative heat source, laser, induction, Ges-Softbend.
- **•** Before forming: in the heating furnace.

With these developments, Gestamp has become the most advanced hot stamping supplier in the market, offering a wide range of materials with different resistance and coating features.

Beyond steel, Gestamp has managed to bring hot stamping technology to aluminum. The need to reduce the weight of vehicles has led some manufacturers to increasingly use aluminum in some components, such as doors, and in chassis components for large and high-end vehicles.

The low level of formability and the high elastic recovery of this material in the conventional cold stamping process has motivated the R&D department to process hot stamping, where design pieces very similar to those made of steel are achieved, but much lighter and with almost zero elastic recovery.

- **• Multistep**
- **• 2000 Mpa & Soft Zone Bkt**
- **• Hotstamping Aluminium**
- **• Furnace Soft Zone**

Image /page/30/Picture/19 description: The image shows a car frame with different parts highlighted in different colors. The text on the left side of the image lists "Alu Multimaterial" and "Alu Extrusion".

Gestamp's current hot stamping lines can be used for both materials by only modifying the process parameters. Gestamp has ended 2023 with a total of 106 hot stamping lines.

For the manufacture of battery boxes, new aluminum extrusion processes have been developed in which large section profiles with high ductility are produced. This makes it possible to manufacture boxes with very light frames to protect the battery.

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Image /page/31/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, dark blue font. To the right of the word is a square containing a stylized image of two curved lines that form a semi-circle. The lines are white and the square is dark blue.

2023

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

[1. Letter from the Chairman](#page-2-0)

[INDEX](#page-1-0)

[4. Environmental Dimension](#page-59-0)

#### **Product development**

Product innovation at Gestamp comes from the application of new technologies to create lighter, more efficient components.

#### BODY IN WHITE

#### **Extreme Size Parts**

Gestamp has created two product families, GES-GIGASTAMPING tm and GES-ENERCONT tm. There is a clear growing trend among all original part manufacturers to develop extreme size parts, fully in tune with the challenges of electric vehicles.

Gestamp's leadership in hot stamping technology has enabled it to create new products of much larger sizes than those that currently make up the body in white. Thanks to the reduction in the number of components, the complexity of assembly processes on manufacturers' production lines is also reduced, minimising their internal production costs.

These extreme size parts are designed to improve vehicle weight and carbon footprint while maintaining safety.

Image /page/31/Picture/9 description: The image shows a red car chassis on a white background. The chassis is the frame of the car, and it is made of metal. The chassis has a sunroof. The chassis is missing the engine, wheels, and other parts of the car.

With different mobility possibilities in mind, Gestamp has created GES-ENERCONT tm, a family of energy containers. In the case of long-haul vehicles, Gestamp has developed a compact solution with a design that is valid for both steel and aluminium in which energy capacity has been maximised.

This product from the *Extreme size parts* family and manufactured with hot stamping technology offers a single cell solution. Thinking about urban mobility, Gestamp has created a light and compact solution that not only uses aluminum, but also composite materials.

Image /page/31/Picture/12 description: The image shows the body of a car in a factory. The car body is made of metal and is in the process of being assembled. The car body is on a conveyor belt, and there are other car bodies in the background. The factory is well-lit and appears to be clean.

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Image /page/32/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, dark blue font. To the right of the word is a square containing a stylized design of two curved lines in a lighter blue color.

Image /page/32/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked on top of each other.

#### [1. Letter from the Chairman](#page-2-0)

#### [2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### CHASSIS

#### **Use of carbon fibre reinforced composites in chassis products**

In the Chassis project, Gestamp has partnered with Ford (lead), the NCC and the University of Nottingham to reduce the weight of three components in a Ford Transit, the best-selling van of all time. These include the front subframe, the front lower wishbone, and the rear solid axle. The result is a 40 % component weight reduction at an affordable cost. This represents a saving of more than 30 kg on the current steel components. In this project, Gestamp used its own in-house topology and material optimisation tools to generate the new chassis concepts, placing the right material, with the optimal component geometry, in the most advantageous position.

Image /page/32/Picture/14 description: A close-up shot captures a welding robot in action, emitting bright sparks and smoke. The robot's arm, metallic and cylindrical, extends downwards towards a dark, angular metal structure. The welding point is a burst of intense light, surrounded by a cloud of blue smoke and scattered sparks. The background is blurred, suggesting a workshop or factory setting.

Image /page/32/Picture/15 description: The image shows a car chassis. The chassis is made of metal and has a complex structure. It is designed to support the weight of the car and to provide a stable platform for the suspension and other components. The chassis is also designed to protect the occupants of the car in the event of a collision.

The opportunity to explore new innovative ideas to reduce mass in chassis products consolidates Gestamp's current market leadership position in steel and aluminum chassis structures and is a further example of Gestamp's continued drive to utilize innovation as a means of progress and remain at the forefront of innovation in the sector while working closely with clients.

In 2023 Gestamp closed a very ambitious project launched together with a client to develop a lighter, stiffer and safer front lower control arm.

The study used the product of the front lower control arm, an important component of an automobile suspension system that stabilizes the vehicle when in motion, placing extreme demands on formability, strength, stiffness and fatigue properties. It had to work perfectly in the event of a head-on collision. The challenge was to develop and produce a low control arm with high strength steel grades that did not previously exist on the market. After six years of design and development with our client, we achieved the cost targets, the weight target (a 16% weight reduction in the part) and the CO2 target. The result, a new Docol® 1000 CP steel grade.

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Image /page/33/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in a dark blue color. To the right of the word is a square containing a stylized graphic. The graphic consists of two curved lines that form a partial loop, with a small circle at the end of the loop. The graphic is white, and the square is dark blue.

#### [2. GESTAMP GROUP](#page-4-0) [2.1 About Gestamp](#page-5-0) [2.2 Operational Excellence](#page-15-0) [2.3 Economic Strategy](#page-37-0)

## ANNUAL REPORT 2023

Image /page/33/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked on top of each other.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### ALUMINIUM CHASSIS

In recent years there has been a major shift towards sustainability and environmental protection, with car manufacturers focusing on significantly reducing CO2 emissions to achieve the goal of zero net emissions. Gestamp shares this commitment and supports the drive towards electrification with greener and lighter products for electric vehicles (EV).

Apart from steel, the application of other materials and combinations of materials are playing a more important role in the development of lightweight automotive parts. Aluminium is by far the most widely used non-ferrous metal in the world and possibly one of the most sustainable materials used in the global automotive industry today.

Historically, aluminium has been used for over a hundred years to produce lightweight bodies for performance and agility. However, lightweight chassis design has been driven by the rise of battery electric vehicles (BEVs), especially in China, and aluminium is a lightweight metal that can be applied to offset the weight gain caused by lithium-ion batteries. With typical weight reductions of up to 30% compared to the equivalent steel chassis structure, aluminium is seen as a key factor for sustainable lightweighting.

Gestamp recognises that the electrification of the automotive industry represents the fastest path to zero emissions; in anticipation of this shift in the global market, Gestamp launched a strategy to independently develop and validate in-house aluminium chassis design and manufacturing competencies.

Image /page/33/Picture/16 description: A close-up shot reveals a silver metal frame structure, possibly part of a vehicle chassis or industrial equipment, mounted against a backdrop of blue and white panels. The frame is complex, featuring various bars, supports, and mounting points, suggesting it is designed to bear significant loads or connect to other components. The blue panel behind the frame has a glossy finish, reflecting light and adding depth to the image. The lighting is even, highlighting the metallic texture of the frame and the smooth surface of the panel. The composition is tightly focused on the frame, emphasizing its intricate design and structural integrity.

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Image /page/34/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, dark blue font. To the right of the word is a dark blue square containing a white, stylized image that resembles a curved line with a circle at one end.

Image /page/34/Picture/2 description: The image shows the text "ANNUAL REPORT" in a large, sans-serif font, followed by the number "2023" in a slightly smaller font. A horizontal line is placed below the text.

Image /page/34/Picture/3 description: The image shows the word "INDEX" in blue, with two horizontal blue lines above it. The lines are of equal length and are stacked on top of each other.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

Image /page/34/Picture/11 description: The image contains the logo for "Edscha Gestamp". The word "Edscha" is in large, bold, black font, and above it is a green curved line. Below "Edscha" is the word "Gestamp" in a smaller, blue font, followed by a blue square with a white design inside.

#### EDSCHA: MECHANISMS/MECHATRONICS

#### **Powered Side Door**

Edscha has developed the second generation of its Power Door. The first generation won the 'Automotive Innovations Award 2021'. In fact, Edscha offers a comprehensive system around the Power Door that includes intelligent sensor technology capable of detecting obstacles in the vicinity of the door and stopping it in time before a collision. Edscha also supplies the control unit (ECU). It is used to control the actuator via specially developed software and also serves as a link to the vehicle's environmental monitoring system, which also detects static and dynamic obstacles such as pedestrians and cyclists.

Image /page/34/Picture/15 description: A car door is displayed in front of a blue wall with the words "Innovation for Safety and Driver" written on it.

#### **Edscha Active Frunk System**

Active Frunk is an Edscha solution specially adapted to electric vehicles. While most of today's vehicles still have a combustion engine, electric vehicles have space that can be used for other purposes, such as carrying luggage. Edscha's Active Frunk system makes it possible to combine a motorised system for fully automatic opening and closing of the front while maintaining the full functionality of active pedestrian protection.

#### **Edscha Power Sliding Door**

Edscha has many years of experience in the field of sliding doors. This know-how has resulted in numerous precision mechanical solutions for passenger cars and commercial vehicles. Now, Edscha has applied its extensive experience in the field of hatches, lids and power-operated doors to the development of an electric sliding door system. Edscha supplies the mechanical components, the electric motor for opening and closing the sliding door and other electronic components.

{35}------------------------------------------------

#### [2. GESTAMP GROUP](#page-4-0) [2.1 About Gestamp](#page-5-0) [2.2 Operational Excellence](#page-15-0) [2.3 Economic Strategy](#page-37-0)

# ANNUAL REPORT 2023

Image /page/35/Figure/2 description: The image shows the word "INDEX" in a sans-serif font, with three horizontal lines above it. The lines are of equal length and thickness, and are stacked vertically with small gaps between them. The word "INDEX" is in a smaller font size than the lines.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

Image /page/35/Picture/10 description: A group of people are standing on a red carpet in front of a building with the word "Gestamp" on it. The building is white and has a modern design. The people are dressed in business attire, and they are all smiling. The photo was likely taken at a corporate event or trade show.

#### PARTICIPATION IN STRATEGIC EVENTS

Gestamp has participated in different strategic events throughout 2023. From international fairs to technological events, also having different events directly at the headquarters of different clients.

This year 2023 has left behind digital events, which were protagonists during previous years due to COVID-19 and which had already lost strength in 2022. Although these types of digital events such as Webinars have resolved different scenarios thanks to their versatility, the year 2023 reflects that the best option to promote innovations, technologies and products are physical events.

In 2023, Gestamp has also followed a strategic calendar that includes key events, conferences and other activities to reach target groups around the world and in different regions. In addition, Gestamp also participates in activities organized by clients and other interested parties, such as universities, associations and business partners.

#### **Technology events and public trade fairs**

A central pillar of Gestamp's event catalog is technology events and public trade fairs. This type of event allows us to offer a deeper vision of innovative concepts and advances aimed at a technical and professional audience in the mobility sector, but also in other related industries.

In 2023, Gestamp's R&D technical experts had the opportunity to attend several important automotive conferences in key regions such as Europe, especially Germany; India, China, the United States or Brazil.

At automotive and mobility fairs, Gestamp has presented the latest innovations to the market and the public and has reinforced its position as a leading international supplier of automotive components. One of the most notable events is the Shanghai AutoShow. Once again Gestamp participated in this edition, the second for the company, held in the same city that gives its name to the event. More than 1,400 automotive suppliers present their products, innovations and technologies to trade visitors, media and the public here. On the same continent, Gestamp also participated in the Auto Expo Components fair in India, held in New Delhi with more than 800 participants.

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Image /page/36/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, dark blue font. To the right of the word is a square containing a stylized image of a hook or curved line, also in blue and white.

#### **Customer events**

[INDEX](#page-1-0)

2023

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

Throughout 2023, these types of events have been held around the world, thanks to which Gestamp has remained even closer to its customers, as a trusted supplier, through these types of meetings. Gestamp R&D professionals have been able to exhibit and explain their innovations and products more directly at their clients' headquarters.

#### **Capital Markets Day**

In the month of June, Gestamp celebrated its second Capital Markets Day. The company presented its 2023-2027 Strategic Plan to investors to continue leading, together with the main OEMs, the path towards more sustainable mobility.

#### 2023 EVENTS

#### **Edscha Innovation Days**

The Innovation Days are organized by the different R&D teams, in this case Edscha, the part of the company that encompasses Mechanisms and Mechatronics. It was held in Germany and they presented their latest innovations and pioneering advances to key internal stakeholders. A perfect example of knowledge transfer and close internal cooperation between the different teams.

Image /page/36/Figure/18 description: This image is a timeline that shows different events that occurred in different months of the year. In January, the Auto Expo Components took place in Nueva Delhi. In February, the Tech Show was held in Bruselas. In April, the Tech Show was held in India, and the Auto Show was held in Shanghai. In May, the Tech Show was held in China, and the Great Design Steel event was held in the USA. In June, the Capital Markets Day was held. In August, the SAE Brazil event was held. In September, the Automotive World Mahukari event was held. In October, the EuroCarBody event was held, and the Aachen Engineering Days were held. In November, the IZB Zoomin event was held, and the Tech Show was held in Brasil.

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<span id="page-37-0"></span>Image /page/37/Picture/0 description: The image shows the Gestamp logo. The word "Gestamp" is written in a bold, sans-serif font in blue. To the right of the word is a blue square containing a stylized white graphic that resembles a curved line with a circle at the end.

#### [2. GESTAMP GROUP](#page-4-0) [2.1 About Gestamp](#page-5-0) [2.2 Operational Excellence](#page-15-0) [2.3 Economic Strategy](#page-37-0)

#### ANNUAL REPORT 2023

[INDEX](#page-1-0)

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

# 2.3 Economic Strategy

## BUSINESS CONTEXT AND RESULTS

#### **Macroeconomic Context and Sector Evolution**

As reported in the January 2024 World Economic Outlook (WEO) update, the International Monetary Fund (IMF) estimates global economic growth to have reached +3.1% YoY in 2023. GDP growth has been better than expected at the beginning of 2023 - the IMF forecasted a +2.9% YoY growth in its January 2023 WEO - as a result of the resilience shown by major economies such as China and United States. Over 2023, tight monetary policies in main geographies have helped to bring inflation closer to central banks' target, which has been the key macroeconomic topic of the year. Looking ahead, risks to the outlook now seem to be more balanced but there is still some uncertainty arising from geopolitical risks and persistently high core inflation. As a result, the IMF now expects a GDP growth in 2024 at same levels as in 2023 at +3.1%, 0.2% higher than the October 2023 WEO projections, with a modest rise to +3.2% YoY in 2025.

Within the auto sector, 2023 has closed with a record growth of market production volumes following strong estimates' revisions by S&P Global Mobility (former IHS), mainly in Asia, throughout the year. According to the S&P Global Mobility update as of February 2024 volumes grew by +10.2% in Gestamp's footprint during 2023 reaching 82.1 million vehicles, already above the 80.7 million units produced in 2019, but still below 2017 peak levels. Once again, Gestamp has outperformed the market on a constant currency basis and excluding the impact from raw materials by 6.4 percentage points (in Gestamp's footprint – IHS data as of February 2024).

During 2023, Western Europe and Eastern Europe were the two regions showing the strongest production growth (+14.1% and +11.3%, respectively), followed by Asia with a +10.3% growth, North America (NAFTA) growing at +8.3% and South America (Mercosur) at +3.6%.

According to S&P Global Mobility (as of February 2024), 2024 is expected to be a transition year in terms of global light vehicle production within a context of a progressive recovery of 2017 peak levels (85.8 million vehicles in Gestamp's footprint). Following an extraordinary growth in 2023, market

According to S&P Global Mobility data as of February 2024, global light vehicle production volumes in 2024 are expected to slightly increase versus 2023 at 82.2 million units in countries within Gestamp's production footprint.

production volumes in Gestamp's footprint are expected to slightly increase in 2024 to 82,2 million units and are expected to surpass peak levels only by 2027 with 86.1 million vehicles.

Moreover, since after the summer of 2023 S&P Global Mobility has been slightly revising downwards its Electric Vehicle (EV) penetration estimates (S&P Global Mobility as of January 2024 expects 26.3 million EVs produced by 2025 with a market penetration of 29% versus the 26.8 million units expected for 2025 in May 2023) and growth in the EV market now looks more saw-tooth shaped. However, automotive industry fundamentals for the medium term remain focused on the electrification trend as the world continues moving towards a sustainable mobility. China, Europe, and North America continue to be the main promoters of this EV trend, with EV penetration rates expected to reach 65%, 54% and 35%, respectively, by 2027. Gestamp continues to work closely to its clients with a leading positioning in this powertrain transition through its focus in Technology and Innovation and its unique value proposition.

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Image /page/38/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, dark blue font. To the right of the word is a square containing a stylized image of two curved lines that form a circle. The square is also dark blue.

**Market growth FY 2023 VS. FY 2022**

# ANNUAL REPORT 2023

Image /page/38/Figure/3 description: This image shows Gestamp Revenue Growth at Constant FX vs. Market Production Growth in Gestamp Footprint. The image includes a world map with the Gestamp footprint highlighted in dark blue. The image also includes a bar graph comparing market and Gestamp growth in different regions. The outperformance is +5.6 p.p. on a weighted basis excluding raw materials in FY 2023. The market and Gestamp growth in North America is 8.3% and 5.5% respectively. The market and Gestamp growth in South America is 3.6% and 21.7% respectively. The market and Gestamp growth in Western Europe is 14.1% and 9.6% respectively. The market and Gestamp growth in Eastern Europe is 11.3% and 22.3% respectively. The market and Gestamp growth in Asia is 10.3% and 24.3% respectively. The total at FX constant is 10.2% and 13.8% respectively. The total at FX constant & exc. raw materials is 10.2% and 16.6% respectively.

(1) Gestamp's organic growth at constant FX used for comparability with production volumes. Market production volume growth is based on countries in Gestamp's production footprint (IHS data as of February 2024). Western Europe data includes Morocco in line with our reporting

(2) Market and Gestamp weighted growth measured with FY 2022 geographical weights as a base (at constant FX and excluding raw materials)

(3) North America refers to NAFTA / South America refers to Mercosur

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Image /page/39/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in blue. To the right of the word is a blue square containing a white graphic that resembles a stylized letter "G" or a curved line with a circle at the end.

2023

#### **Financial Results Overview**

Image /page/39/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked vertically.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

The 2023 financial year was marked by an impressive growth of auto production volumes with strong revisions during the year mainly driven by Asia, in a context of decreasing by still high inflation rates and tight monetary policies implemented by central banks. Revenues increased by +14.4% in 2023 reaching €12,273.7million, implying a +19.5% increase at constant FX. Considering organic growth (excluding Gescrap) at FX constant and excluding the raw materials impact of € 1,107.4 million, the Group has reached an outperformance to the market of 6.4 percentage points (compared to market production volume growth in Gestamp's production footprint – IHS data as per February 2024 of +10.2%). In terms of profitability, EBITDA in 2023 reached €1,371.2 million including the contribution from Gescrap with a growth of +13.4% when compared to 2022. EBITDA margin for the auto business (excluding Gescrap and the raw materials impact) stood at 12.6% in 2023, consolidating the profitability improvements implemented since 2020. Net profit for the period reached €280.7 million versus the €260.0 million reported in 2022.

In 2023 the capital expenditure of Gestamp increased by €151.1m (including IFRS 16), or +18.9%, to €949.7m from €798.5 in 2022.

Capital expenditures include mainly growth, recurrent and intangible capital expenditures. Growth capital expenditures defined as capital expenditure on greenfield property, plant & equipment, major plant expansions and new customer products/technologies. Recurrent capital expenditures mainly include investments to replace existing programs and expenditures on the maintenance of our production assets. Lastly, intangible capital expenditures include a part of the Group's investments in R&D, among other concepts.

Gestamp's Net financial debt as of 2023 year-end amounted to €2,058.0 million, implying a leverage ratio (Net financial debt / EBITDA) of 1.50x.

In summary, main figures in 2023 compared to 2022 are as follows:

| Million Euros                       | 2022     | 2023     | % Change |
|-------------------------------------|----------|----------|----------|
| Revenues                            | 10,726.4 | 12,273.7 | 14.4%    |
| EBITDA                              | 1,209.5  | 1,371.2  | 13.4%    |
| EBIT                                | 539.7    | 680.4    | 26.1%    |
| Profit Before Tax                   | 391.5    | 414.2    | 5.8%     |
| Profit attributable to shareholders | 260.0    | 280.7    | 8.0%     |
| Equity                              | 2,757.9  | 2,861.4  | 3.8%     |
| Net financial debt                  | 2,145.2  | 2,058.0  | -4.1%    |
| Capital expenditure                 | 798.5    | 949.7    | 18.9%    |

In 2023, Gestamp has met all the targets guided to the market: i) double-digit reported revenue growth with a high-single digit outperformance of 6.4 p.p. to auto production volumes growth, ii) double-digit reported EBITDA growth with an EBITDA margin for the auto business standing at 12.6% excluding raw materials, within the 12.5%-13.0% range guided, iii) capex at 7.7% of reported revenues and 7.4% over revenues at constant FX and iv) a Free Cash Flow generation of € 207 million.

#### REVENUES BY PRODUCT

Total revenues in the period increased to €12,273.7 million, of which Body in White and Chassis represented €10,020.0 million and Mechanisms represented €1,188.6 million, Tooling and others stood at €439,1 million and, lastly, Gescrap stood at €626,0 million in 2023.

{40}------------------------------------------------

Image /page/40/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked on top of each other.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### Revenues and EBITDA by Region

| Revenues - Million Euros | 2022     | 2023     | % Change |
|--------------------------|----------|----------|----------|
| Western Europe           | 4,278.2  | 4,671.4  | 9.2%     |
| Eastern Europe           | 1,597.4  | 1,713.1  | 7.2%     |
| North America (NAFTA)    | 2,325.6  | 2,472.0  | 6.3%     |
| South America (Mercosur) | 865.8    | 899.3    | 3.9%     |
| Asia                     | 1,642.0  | 1,891.9  | 15.2%    |
| Gescrap                  | 17.6     | 626.0    | n.a.     |
| Total                    | 10,726.4 | 12,273.7 | 14.4%    |
| EBITDA - Million Euros   | 2022     | 2023     | % Change |
| Western Europe           | 457.6    | 539.9    | 18.0%    |
| Eastern Europe           | 232.3    | 248.3    | 6.9%     |
| North America (NAFTA)    | 196.0    | 165.7    | -15.4%   |
| South America (Mercosur) | 105.2    | 105.0    | -0.2%    |
| Asia                     | 216.3    | 265.8    | 22.9%    |
| Gescrap                  | 2.0      | 46.4     | n.a.     |

#### **Western Europe**

Revenues in 2023 increased by €393.1 million, or +9.2% (+9.6% at constant FX) to €4,671.4 million from €4,278.2 million in 2022.

EBITDA in 2023 experienced an increase of €82.3 million, or +18.0%, to €539.9 million from €457.6 million in 2022. EBITDA margin in the region has improved to 11.6% in 2023 from 10.7% in 2022.

#### **Eastern Europe**

During 2023, revenues increased by €115.7 million, or +7.2% (+22.3% at constant FX), to €1,713.1 million from €1,597.4 million in the previous year. The region experienced FX headwinds, mainly in Turkey, which impacted negatively our results.

EBITDA during 2023 increased by 16.0 million, or +6.9%, to €248.3 million from €232.3 million in 2022. As a result, EBITDA margin in the region stood at 14.5% in 2023, flat versus last year.

#### **North America (NAFTA)**

During 2023, revenues increased by €146.4 million, or +6.3% (+5.5% at constant FX), to €2,472.0 million from €2,325.6 million in 2022.

EBITDA in 2022 decreased by -€30.2 million, or -15.4%, to €165.7 million from €196.0 million during the year of 2022. EBITDA margin reached a 6.7% in the year.

#### **South America (Mercosur)**

Revenues in 2023 increased by €33.6 million, or +3.9% (+21.7% at constant FX), to €899.3 million from €865.8 million in 2022. FX headwinds in Argentina have negatively impacted our results.

During 2023, EBITDA slightly decreased by -€0.2 million, or -0.2%, to €105.0 million from €105.2 million in 2022. EBITDA margin in 2023 reached 11.7%.

#### **Asia**

Revenues in 2023 went up by €250.0 million, or +15.2% (+24.3% at constant FX) to €1,891.9 million from €1,642.0 million in 2022. This region has shown the strongest performance in the year, mainly due to the positive performance of China.

EBITDA during 2023 increased by €49.4 million, or +22.9%, to €265.8 million from €216.3 million in 2022. EBITDA margin improved to 14.0% from 13.2% in 2022.

#### **Gescrap**

For the full year 2023, Gescrap reached €626.0 million revenues and an EBITDA of €46.4 million, with an EBITDA margin of 7.4%. Gescrap was acquired in December 2022, contributing to Gestamp 2022 results for only one month with €17.6 million revenues and a€2.0 million EBITDA.

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Image /page/41/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in a dark blue color. To the right of the word is a blue square containing a white graphic that resembles a stylized "G" or a curved line with a circle at the end.

Image /page/41/Picture/3 description: The image shows the word "INDEX" in blue text below three horizontal blue lines. The lines are stacked on top of each other.

#### [1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

## DEBT AND LIQUIDITY

As of December 31st, 2023, Net financial debt amounted to €2,058.0 million resulting in a 1.50x leverage ratio (Net Financial Debt / EBITDA).

| Million Euros                                         | 2022    | 2023    |
|-------------------------------------------------------|---------|---------|
| Non-current financial liabilities                     | 2,681.1 | 2,694.6 |
| Interest-bearing loans and borrowings and debt issues | 2,252.1 | 2,257.9 |
| Financial leasing                                     | 395.5   | 368.7   |
| Borrowings from related parties                       | 17.9    | 16.4    |
| Other non-current financial liabilities               | 15.6    | 51.6    |
| Current financial liabilities                         | 1,263.8 | 689.8   |
| Interest-bearing loans and borrowings and debt issues | 576.9   | 311.9   |
| Financial leasing                                     | 87.1    | 79.3    |
| Borrowings from related parties                       | 111.1   | 2.5     |
| Other current financial liabilities                   | 488.7   | 296.1   |
| Gross debt                                            | 3,944.9 | 3,384.5 |
| Net financial debt                                    | 2,145.2 | 2,058.0 |
| EBITDA                                                | 1,209.5 | 1,371.2 |
| Leverage ratio (Net Financial Debt / EBITDA)          | 1.77x   | 1.50x   |
| Leverage ratio (excluding IFRS 16)                    | 1.53x   | 1.29x   |

Our long-term indebtedness with credit institutions and debt securities consists mainly of €397 million in senior secured bonds issued in 2018 and maturing in 2026, €83 million senior bonds (Schuldschein bond) issued in 2019, €1,185 million of a senior secured loan signed on May 8th, 2023, €200 million of debt with the European Investment Bank, €100 million of debt with the Instituto de Crédito Oficial (ICO) and €730 million of aggregate principal amount in other bilateral financings.

| Million Euros                 | 2022    | 2023    |
|-------------------------------|---------|---------|
| Cash and cash equivalents     | 1,695.1 | 1,176.8 |
| Current financial investments | 104.6   | 149.7   |
| Revolving credit facilities   | 325.0   | 500.0   |
| Undrawn credit facilities s/t | 372.9   | 347.6   |
| Undrawn credit facilities l/t | 91.4    | 90.3    |
| Total                         | 2,589.0 | 2,264.3 |

Gestamp's main source of liquidity is our operating cash flow. Net cash flow from operating activities amounted to €1,163.1 million in 2023. In addition, Gestamp has a €500 million Revolving Credit Facility maturing in 2028 that is undrawn as of December 31st, 2023, as well as €147.5 million in credit facilities maturing in more than 12 months, of which €57.2 million were drawn as of December 31st, 2023 and €391.6 million in credit facilities maturing in less than 12 months, of which €44.0 million were drawn as of December 31st, 2023. These credit lines are generally renewed each annually, are unsecured and have standard terms and conditions.

Image /page/41/Picture/16 description: A close-up shot depicts a group of people collaborating around a wooden table, deeply engaged in a brainstorming or planning session. The focus is on their hands and the tools they are using: pens, pencils, and notebooks. One person is actively writing or drawing in a spiral-bound notebook with a black pen, while another is poised to write with a pencil in a similar notebook. A tablet rests on the table, suggesting the integration of digital tools in their work process. The composition is framed to highlight the collaborative aspect, with the participants' arms and hands overlapping, emphasizing their shared activity. The lighting is soft and natural, contributing to a relaxed and productive atmosphere.

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Image /page/42/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in blue. To the right of the word is a blue square containing a stylized white graphic of curved lines.

#### [2. GESTAMP GROUP](#page-4-0) [2.1 About Gestamp](#page-5-0) [2.2 Operational Excellence](#page-15-0) [2.3 Economic Strategy](#page-37-0)

#### ANNUAL REPORT 2023

Image /page/42/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked vertically, suggesting a menu or index icon.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

## FORESEEABLE EVOLUTION OF THE GROUP

Following an outstanding 2023 of strong auto production volumes in a context of extraordinary high inflation and geopolitical instability, 2024 is set to be a transition year for the automotive sector. Uncertainty at macro level is expected to persist mainly arising from the geopolitical risks (Israel-Palestine and Ukraine-Russia wars, together with tensions between China, Taiwan and Unites States and an intense electoral year with presidential elections taking place in significant countries such as United States, Russia, India and Mexico) and a higher for longer inflationary pressure. More specifically for the auto market, 2024 is expected to be marked by: i) limited auto production growth, with ii) EV penetration still on the rise but with a saw-tooth shape and iii) declining steel prices but still above normalized levels.

According to S&P Global Mobility data as of February 2024, global light vehicle production volumes in 2024 are expected to slightly increase versus 2023 at 82.2 million units in countries within Gestamp's production footprint. By region, S&P Global Mobility expects production volumes to grow in 2024 in NAFTA (+2.4%) and Asia (+0.1%), while Mercosur (-1.2%), Eastern Europe (-1.2%) and Western Europe (-2.4%) are expected to see volumes slightly declining.

Looking at Gestamp's operations, the Group's main focus for 2024 will be to preserve its growth profile by: i) mitigating the potential EV volatility, ii) keep using our technology and innovation capabilities to be at the vanguard, and iii) implementing a disciplined capex strategy to capture future growth; as well as to ensure the company's profitability by: i) further implementing efficiency improvements, ii) reinforcing its flexibility to mitigate potential volatility and iii) focusing on the NAFTA region restructuring plan.

## For 2024, Gestamp expects revenues for the auto business to outperform market production volumes.

In this context, the Group is determined to continue reinforcing its financial and strategic positioning. For 2024, Gestamp expects revenues for the auto business to outperform market production volumes growth in the low-single digit range with a flat reported EBITDA margin when compared to 2023. As for Gescrap, the Group expects similar revenues and EBITDA in 2024 versus 2023. Regarding Free Cash Flow and leverage targets, Gestamp expects to generate positive Free Cash Flow (FCF defined as Net Debt reduction excluding acquisitions and dividends) in the range of the €200 million and reach a net debt to EBITDA ratio of 1.0-1.5x. Gestamp is strongly committed on delivering on this guidance.

On June 20th, 2023 Gestamp celebrated its second Capital Markets Day in which presented its long term strategy for the 2022-27 Plan explaining the Group's positioning as Partner Supplier for its clients towards a more sustainable mobility. Gestamp's Strategic Plan is based on seven key pillars, which are: i) growth ambition, as market production volumes recover with increasing EV penetration and outsourcing levels; ii) being a trusted partner for both traditional clients and new comers; iii) using its technology and innovation capabilities to be differential; iv) keep improving the operational excellence, in order to v) grow in a profitable way; vi) maintain a disciplined balance sheet

profile; and vii) lead the circular economy in the automotive sector supported by its latest acquisition, Gescrap.

During the Capital Markets Day the Group provided its financial targets for 2027, which include: i) revenues outperforming the market by mid-single digit during the period, with EV related sales reaching more than 50% of total sales of parts by 2027; ii) a 150-190 basis points increase in EBITDA margin; iii) net debt to EBITDA ratio standing in the range of 1.0-1.5x throughout the period; iv) a ROCE improvement of 350 basis points; and v) maintaining current dividend policy based on a 30% pay-out of annual net profit.

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Image /page/43/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in blue. To the right of the word is a blue square containing a white graphic that resembles a stylized letter "G" or a curved line with a circle at the end.

#### [2. GESTAMP GROUP](#page-4-0) [2.1 About Gestamp](#page-5-0) [2.2 Operational Excellence](#page-15-0) [2.3 Economic Strategy](#page-37-0)

## ANNUAL REPORT 2023

Image /page/43/Picture/3 description: The image shows the word "INDEX" in a sans-serif font, with three horizontal lines above it. The lines are all the same length and thickness, and they are evenly spaced. The word "INDEX" is in a smaller font than the lines, and it is centered below the lines. The color of the lines and the word "INDEX" is a dark teal.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

# FISCAL STRATEGY

Gestamp bases its **[fiscal strategy](https://www.gestamp.com/Gestamp11/media/GestampFiles/Shareholders%20Investors/Corporate%20Governance/Corporate%20Policies/Tax%20Estrategy/Tax-Strategy-Gestamp.pdf?ext=.pdf)** on current national and international tax regulations, aware of the importance and need of its contribution to the public finances of the different territories in which it operates. This strategy is considered an area of particular importance as it has to be perfectly aligned with the basic principles of its business strategy, but at the same time it is an essential part of the Group's concerns within the framework of its sustainability policy.

Fiscal Policy revolves around four basic pillars:

- **•** Responsibility in decisions and actions in fiscal matters.
- **•** Tax contributions where the activities take place. Gestamp's aim has never been to relocate activities or profits to particular jurisdictions for purely fiscal reasons.
- **•** Transparency in all the information that Gestamp provides to shareholders, the market and the different stakeholders with which it is associated; this information is also accessible, transparent and reliable.
- **•** Cooperation with the different public administrations of the countries where Gestamp has an industrial presence and always subject to solid values of professionalism, collaboration, good faith, mutual trust and mutual respect.

At Gestamp, tax matters are managed in an orderly and professionalised manner in order to guarantee both due and timely compliance with all tax obligations and the effective management of tax risks.

To this end, Gestamp, on the one hand, has an appropriate, expert and integrated organisation with sufficient technical competence at corporate, divisional and local level, which enables it to manage and ensure due compliance with its tax policies and, on the other hand, it applies the most effective procedures, systems and internal controls to ensure that the tax function is carried out appropriately.

Image /page/43/Picture/20 description: In this high-angle shot, a group of business professionals are gathered in what appears to be an office setting. The composition of the image suggests a meeting or collaborative discussion, with the individuals positioned in a way that encourages interaction. The lighting is bright and even, contributing to a professional and corporate atmosphere. The focus is sharp, allowing for clear visibility of the subjects and their attire. The overall impression is one of teamwork and engagement within a business environment.

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Image /page/44/Picture/0 description: The image shows the word "Gestamp" in a bold, sans-serif font. The word is in a dark blue color. To the right of the word is a stylized graphic in a lighter blue color. The graphic appears to be a curved line with a circle at the end, suggesting movement or flow.

Image /page/44/Picture/3 description: The image shows a stylized icon of a menu or index. It consists of three horizontal lines stacked on top of each other, all in a dark blue color. Below the lines, the word "INDEX" is written in a smaller, sans-serif font, also in dark blue. The background is white.

[1. Letter from the Chairman](#page-2-0)

#### [2. Gestamp Group](#page-4-0)

#### [3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

The bodies at Gestamp that are competent and responsible for the fiscal area include the Board of Administration, the Audit Committee, the Risk Committees, the Fiscal Area of the Legal Advice and Tax Department, and the Internal Audit and Risk Management Department.

In particular, the Fiscal Area of the Legal Advice and Tax Department is in charge of preserving and developing all the principles and values of Gestamp in the area of taxation and of overseeing their fulfilment, defining and establishing the required control mechanisms. It also provides information on fiscal risks and their management to the Internal Audit and Risk Management Department which, in turn, follows up and monitors said risks, including them in the Group's Comprehensive Risk Management System and informing the Audit Committee of them.

INFORMATION ON CORPORATE TAX EXPENSES, PROFIT BEFORE TAXES AND SUBSIDIES BY COUNTRY

|                | Corporate tax expenses |       | Profit before taxes |        | Subsid. Capital |      | Subsid. Operations |      |
|----------------|------------------------|-------|---------------------|--------|-----------------|------|--------------------|------|
|                | 2022                   | 2023  | 2022                | 2023   | 2022            | 2023 | 2022               | 2023 |
| WESTERN EUROPE |                        |       |                     |        |                 |      |                    |      |
| Spain          | -19.8                  | -16.6 | 134.7               | 211.0  | 2.7             | 3.7  | 7.4                | 9.3  |
| Germany        | -2.7                   | -2.8  | 22.2                | 35.4   | 0.4             | 0.1  | 0.6                | 1.1  |
| United Kingdom | 0.5                    | 1.2   | -36.1               | -12.4  | 0.0             | 0.0  | 0.6                | 0.5  |
| France         | -0.7                   | -5.6  | 32.0                | 23.9   | 0.2             | 0.2  | 0.3                | 1.4  |
| Portugal       | -1.8                   | -4.8  | 20.9                | 26.1   | 0.9             | 0.8  | 0.4                | 0.1  |
| Sweden         | 0.0                    | -0.2  | 34.9                | 64.6   | 0.0             | 0.0  | 0.0                | 0.0  |
| Luxembourg     | 0.1                    | 0.0   | -0.2                | 0.0    | 0.0             | 0.0  | 0.0                | 0.0  |
| Morocco        | 0.0                    | 0.0   | 1.6                 | 5.8    | 0.0             | 0.0  | 0.0                | 0.0  |
| Italy          | 0.0                    | 0.0   | 0.0                 | 0.0    | 0.0             | 0.0  | 0.0                | 0.0  |
|                | Corporate tax expenses |       | Profit before taxes |        | Subsid. Capital |      | Subsid. Operations |      |
|                | 2022                   | 2023  | 2022                | 2023   | 2022            | 2023 | 2022               | 2023 |
| EASTERN EUROPE |                        |       |                     |        |                 |      |                    |      |
| Turkey         | -0.9                   | -6.0  | 67.1                | 12.0   | 0.0             | 0.0  | 0.0                | 0.0  |
| Russia         | -0.9                   | -1.7  | -18.8               | 8.8    | 0.0             | 0.0  | 0.1                | 0.0  |
| Czech Republic | -1.0                   | -0.6  | 4.3                 | -10.8  | 0.0             | 0.0  | 0.1                | 0.1  |
| Poland         | -4.6                   | 0.2   | 42.6                | 43.4   | 0.0             | 0.0  | 0.0                | 0.0  |
| Hungary        | 0.0                    | -0.2  | 6.0                 | -4.5   | 0.0             | 0.0  | 0.0                | 0.0  |
| Slovakia       | -3.6                   | -3.2  | 27.2                | 15.2   | 0.5             | 0.0  | 0.0                | 0.0  |
| Romania        | -0.3                   | 0.0   | 5.6                 | 10.2   | 0.0             | 0.0  | 0.0                | 0.0  |
| Bulgaria       | 0.0                    | 0.0   | 1.7                 | 1.0    | 0.0             | 0.0  | 0.0                | 0.0  |
| Lithuania      |                        | 0.0   |                     | 0.0    |                 | 0.0  |                    | 0.0  |
| SOUTH AMERICA  |                        |       |                     |        |                 |      |                    |      |
| Brazil         | -8.5                   | -10.6 | 41.0                | 53.4   | 0.0             | 0.0  | 0.0                | 0.0  |
| Argentina      | 0.0                    | -0.3  | -4.8                | -2.1   | 0.0             | 0.0  | 0.0                | 0.0  |
| NORTH AMERICA  |                        |       |                     |        |                 |      |                    |      |
| United States  | 0.0                    | -2.8  | -61.5               | -152.6 | 0.0             | 0.0  | 0.9                | 7.0  |
| Mexico         | -13.2                  | -15.2 | -3.5                | 18.7   | 0.1             | 0.1  | 0.0                | 0.0  |
| ASIA           |                        |       |                     |        |                 |      |                    |      |
| China          | -10.4                  | -13.8 | 76.5                | 117.6  | 0.0             | 1.6  | 6.3                | 6.1  |
| India          | -4.0                   | -2.6  | 19.4                | 5.2    | 0.0             | 0.0  | 0.0                | 0.0  |
| South Korea    | -2.2                   | -1.8  | 11.8                | 10.2   | 0.0             | 0.0  | 0.0                | 0.0  |
| Japan          | -0.1                   | 0.0   | -2.8                | -0.8   | 0.8             | 0.7  | 0.0                | 0.0  |
| Thailand       | -0.2                   | -0.3  | 1.5                 | 1.2    | 0.0             | 0.0  | 0.0                | 0.0  |
| Taiwan         | 0.0                    | 0.0   | 0.0                 | 1.6    | 0.0             | 0.0  | 0.0                | 0.0  |
| Samoa          | 0.0                    | 0.0   | 0.0                 | 0.0    | 0.0             | 0.0  | 0.0                | 0.0  |

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Image /page/45/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in blue. To the right of the word is a blue square containing a stylized white graphic that resembles a curved line with a circle at the end.

# [INDEX](#page-1-0)

#### [1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

# THE COMPANY IN THE CAPITAL MARKETS

#### **Stock Exchange Evolution**

[2. GESTAMP GROUP](#page-4-0)

30%

On April 7th, 2017, Gestamp made its debut as a publicly listed company on the Spanish stock exchanges (Madrid, Barcelona, Bilbao, and Valencia) under the "GEST" ticker. The final offering consisted of 156,588,438 shares (initial offering of 155,388,877 plus final over-allotment option of 1,199,561 shares corresponding to the Greenshoe of 23,308,331 shares). The price was set at €5.60 per share, representing an initial market capitalization of €3,222 million.

[2.1 About Gestamp](#page-5-0) [2.2 Operational Excellence](#page-15-0) **[2.3 Economic Strategy](#page-37-0)**

Since December 2017, the company's shares have been included in the IBEX Medium Cap index.

As of December 31st of 2023, 74.173% of the share capital was controlled (directly and indirectly) by Acek Desarrollo y Gestión Industrial S.L. (the Riberas Family industrial holding), being 61.648% owned by Acek and 12.525% by Mitsui. In addition, as of December 31st, 2023 Gestamp held treasury shares amounting to 0.418% of the share capital. Gestamp's total Free Float amounted to 25.408% as of December 2023 (including shares held by the Board of Directors and Gestamp own shares that JB Capital Markets operates under the liquidity contract).

See below for Gestamp´s share price evolution since January 1st, 2023:

#### GESTAMP'S DAILY SHARE PRICE EVOLUTION VS. IBEX 35 AND VS. STOXX AUTOS & PARTS

Image /page/45/Figure/17 description: The image is a line graph comparing the performance of Gestamp, Ibex 35, and STOXX Autos & Parts from December 30 to December 30 of the following year. The y-axis represents percentage change, ranging from -10% to 20%. The x-axis represents time, with labels for December 30, January 30, February 28, March 31, April 30, May 31, June 30, July 31, August 31, September 30, October 31, November 30, and December 30. Gestamp is represented by a dark blue line, Ibex 35 by a gray line, and STOXX Autos & Parts by a light blue line. The final percentage changes are +22.8% for STOXX Autos & Parts, +19.1% for Ibex 35, and -2.9% for Gestamp.

As of December 31st, 2023, Gestamp's shares have decreased by -2.9% since the 31st of December 2022, implying a market capitalization of €2,019 million at the end of the year. Total volume traded during 2023 stood at 83.6 million shares or €330.9 million.

The shares reached its maximum level for the year on July 27th, 2023 (€4.51) and its minimum level on December 13th, 2023 (€3.35). During 2023, the average share price stood at €3.99.

The most relevant information regarding the stock's evolution in 2023 and 2022 is shown in the table below:

| (€)                                        | 2022        | 2023        |
|--------------------------------------------|-------------|-------------|
| Total Number of Shares                     | 575,514,360 | 575,514,360 |
| Share Price at year end                    | 3.61        | 3.51        |
| Market Cap. at year end (in Thousands)     | 2,080       | 2,019       |
| Maximum Price                              | 4.67        | 4.51        |
| Date of Max. Price                         | 06/01/2022  | 27/07/2023  |
| Minimum Price                              | 2.82        | 3.35        |
| Date of Min. Price                         | 08/03/2022  | 13/12/2023  |
| Average Price                              | 3.50        | 3.99        |
| Total Volume (in Shares)                   | 127,909,369 | 83,637,158  |
| Average of Daily Volume Traded (in Shares) | 497,702     | 326,708     |
| Total Turnover (in Millions)               | 439.96      | 330.86      |
| Average of Turnover Traded (in Thousands)  | 1,711.90    | 1,292.42    |

*Data as of December 31st, 2023. Source: Bloomberg & BME (Bolsas y Mercados Españoles)*

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Image /page/46/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in a dark blue color. To the right of the word is a square containing a stylized graphic of a curved line with a circle at the end, also in dark blue.

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

[1. Letter from the Chairman](#page-2-0)

[INDEX](#page-1-0)

[4. Environmental Dimension](#page-59-0)

#### ANNUAL REPORT 2023 **Transactions with Own Shares**

On July 27th, 2018, the Parent Company entered into a liquidity agreement with JB Capital Markets, S.V., S.A.U., adapted to Circular 1/2017, of April 26th, of the CNMV. The framework of this agreement will be the Spanish stock markets.

This agreement stipulates the conditions in which the financial intermediary will operate for the account of the issuer, buying or selling own shares of the latter, with the sole objective of favouring the liquidity and regularity of their listing, and it will have a duration of 12 months, deemed to be tacitly extended for the same period, unless indicated otherwise by the parties.

The amount earmarked to the cash account associated with the agreement is €9,000 thousand.

During 2023, the Board of Directors of the Parent company decided to launch a share buyback programme in order to provide the Parent Company with sufficient treasury shares to enable it to deliver shares of the Company to certain employees of Gestamp Automoción, S.A., beneficiaries of the current longterm incentive programme, for a maximum amount in cash of €15 million and a maximum number of shares of 3,000,000.

The period during which the Programme is authorised is from September 6th, 2023 to December 20th, 2023. This period may be extended with the prior approval of the Board of Directors of the Parent Company if the Parent Company has not acquired the maximum number of shares by the specified date.

On December 18th, 2023, the Board of Directors of the Parent Company agreed to extend the duration of the Programme until May 10th, 2024.

As a consequence of the above, on September 4th, 2023, the liquidity contract signed with JB Capital Markets, S.V., S.A.U. was temporarily suspended and resumed on January 18th, 2024 after the repurchase of the 3,000,000 shares established in the repurchase programme had been completed.

Treasury shares as of December 31st, 2023 represented 0.55% of the share capital of the Parent Company (0.08% as of December 31st, 2022) and comprised 3,169,656 shares (460,513 shares as of December 31st, 2022), at an average acquisition price of €3.765 per share (€3.482 per share as of December 31st, 2022).

The movements in 2023 and 2022 were as follows:

#### Number of own shares Thousands of Euros

| Balance at December 31st, 2021 | 676,492     | 2,716    |
|--------------------------------|-------------|----------|
| Increases/Purchases            | 7,674,278   | 26,249   |
| Decreases/Sales                | (7,890,257) | (27,362) |
| Balance at December 31st, 2022 | 460,513     | 1,603    |
| Increases/Purchases            | 5,962,440   | 23,337   |
| Decreases/Sales                | (3,253,297) | (13,006) |
| Balance at December 31st, 2023 | 3,169,656   | 11,934   |

The sale price of treasury shares during 2023 detailed in the table above amounted to €13,502 thousand (€27,279 thousand as of December 31st, 2022), generating a positive result of €495 thousand (negative result of €83 thousand as of December 31st, 2022), which has been recognized under Unrestricted Reserves (Note 17.2).

Image /page/46/Picture/15 description: Three people are gathered around a table, seemingly collaborating on a project. The person on the left is wearing a blue shirt and has a watch on their left wrist. The person in the middle is wearing a white shirt and a dark blazer. They are holding a tablet in their left hand. The person on the right is wearing a striped shirt and a yellow cardigan. They are all looking down at the table, which has papers and other objects on it. There is a large window in the background.

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Image /page/47/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, dark blue font. To the right of the word is a square containing a stylized graphic of a curved line with a circle at the end, also in a lighter shade of blue.

#### [2. GESTAMP GROUP](#page-4-0) [2.1 About Gestamp](#page-5-0) [2.2 Operational Excellence](#page-15-0) [2.3 Economic Strategy](#page-37-0)

#### ANNUAL REPORT 2023

Image /page/47/Picture/3 description: The image shows the word "INDEX" in dark blue, with three horizontal lines above it. The lines are also dark blue and are of equal length and spacing.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### **Bonds and Credit Ratings**

On May 2013, the Group completed an issuance of bonds through its subsidiary Gestamp Funding Luxembourg, S.A., a company belonging to the Western Europe segment. This issuance was carried out in two tranches, one amounting to €500 million at an annual coupon of 5.875%, and the other amounting to \$350 million with a 5.625% annual coupon.

On May 4th, 2016 the Group issued a bond, through the subsidiary Gestamp Funding Luxembourg, S.A. for €500 million with an annual coupon of 3.5%. The issuance was used to fully refinance the May 2013 Euro bond and accrued interest. The US dollar bonds issued in May 2013 were fully refinanced on June 17th, 2016 with the tranche A2 of the new syndicated loan granted on May 20th, 2016. On May 25th, 2021 the Company early redeemed at par value the €500 million, 3.50% senior secured notes due 2023.

On April 20th, 2018 the Group issued a new bond, through the Parent Company (Gestamp Automoción S.A.), amounting to €400 million with an annual coupon of 3.25%. The issuance was used to refinance certain of Gestamp's existing long and short-term debt facilities. The maturity date of this bond is April 30th, 2026.

As of December 31st, 2023 Gestamp's corporate credit rating was "BB / Stable outlook" by Standard & Poor's and "Ba3 / Positive outlook" by Moody's. On April 11th, 2023, Standard & Poor's upgraded Gestamp's credit rating from "BB-" to "BB" with outlook confirmed at "Stable". On July 31st, 2023 Moody's confirmed the company's rating at "Ba3" but upgraded its outlook from "Stable" to "Positive".

| Corporate Credit Rating | Current Rating | Outlook  | Last Review |
|-------------------------|----------------|----------|-------------|
| Standard & Poor's       | BB             | Stable   | 11/04/2023  |
| Moody's                 | Ba3            | Positive | 31/07/2023  |
| Senior Secured Notes    | Current Rating | Outlook  | Last Review |
| Standard & Poor's       | BB+            | Stable   | 11/04/2023  |

Image /page/47/Picture/17 description: Two people are sitting at a table reviewing financial documents. One person is holding a tablet and pointing at a document with a white pen. The other person is holding a black pen and pointing at the same document. There is a calculator on the table, as well as other documents and papers. The document on the table has a pie chart and bar graphs on it.

#### **Dividend Policy**

In 2018, the Board of Directors of Gestamp approved a dividend policy. Gestamp decided to distribute on an annual basis a total dividend equivalent to approximately 30% of the consolidated net profit for each year, but in two payments, anticipating part of the payment via an interim dividend:

- I. A first payment, through the distribution of an interim dividend, that will be approved pursuant to a resolution of the Board of Directors to be adopted in December of each year and paid between January and February of the following year.
- II. A second payment, through the distribution of an ordinary dividend, that will be approved by virtue of a resolution of the Ordinary General Shareholders' Meeting at the time of approval of the annual accounts and will be paid between the months of June and July of each year.

In line with our policy, in December 2023, the Board of Directors approved the distribution of an interim cash dividend in January 2024 against 2023 financial results. The payment took place on January 10th, 2024 for a gross amount of €0.07 per share.

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Image /page/48/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in a dark blue color. To the right of the word is a stylized graphic, also in dark blue, that resembles a curved line with a small circle at the end, suggesting movement or connection.

Image /page/48/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked on top of each other.

#### [1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### **Other Relevant Information**

#### AVERAGE PERIOD FOR PAYMENT TO SUPPLIERS

The Group's Spanish companies have adapted their internal process and payment period policy to Law 15/2010, hence, measures to fight against default in trade operations have been implemented. In this regard, the conditions for contracting to commercial suppliers relating to industrial activity for the manufacture of parts located in Spanish territory included payment periods equal to or less than 60 days in both 2023 and 2022, as stipulated in Transitional Provision Two of the aforementioned law.

In accordance with such Law, the following information corresponds to the Group companies that operate in Spain:

| 2023                                |                |
|-------------------------------------|----------------|
| Average payment period to suppliers | 42 days        |
| Total payments made                 | €4,597 million |
| Total payments pending              | €698 million   |

#### 2022

| Average payment period to suppliers | 43 days        |
|-------------------------------------|----------------|
| Total payments made                 | €3,393 million |
| Total payments pending              | €618 million   |

The monetary volume paid in 2023 in a period less than the maximum established in the late payment regulations, for companies based in Spain, is 1,083,610 thousand euros (673,169 thousand euros in 2022) corresponding to 62,251 invoices (42,027 invoices in 2022).

For reasons of efficiency and in line with common business uses, the Group's Spanish companies basically have a supplier payment schedule, whereby payments are made on fixed days which, at the main companies, are twice a month.

In general, in 2023 and 2022, payments made by Spanish companies to suppliers under agreements entered into after the entry into force of Law 15/2010, did not exceed the legal deferral limits. The payments made to Spanish suppliers in 2023 and 2022 that exceeded the established legal deadline have been, in quantitative terms, of scant relevance and are derived from circumstances or incidents outside the established payment policy, including mainly the closing of agreements with suppliers in the delivery of goods or provision of the service or specific handling processes.

Also, at December 31st, 2022 and 2021, no amounts were pending payment to suppliers located in Spain that exceed the legal payment term.

#### **Subsequent Events**

There are no significant subsequent events after December 31st, 2023.

{49}------------------------------------------------

# <span id="page-49-0"></span>03 ESG Perspective

- 3.1 [ESG at Gestamp](#page-50-0)
- 3.2 [ESG Strategy](#page-53-0)
- 3.3 [ESG Criteria Ratings](#page-58-0)

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<span id="page-50-0"></span>Image /page/50/Picture/0 description: The image shows the word "Gestamp" in a bold, dark blue font, followed by a stylized blue square containing a white curved line with a circle at the end, resembling a stylized "G" or a connection symbol.

Image /page/50/Picture/3 description: The image shows a symbol consisting of three horizontal lines stacked on top of each other, with the word "INDEX" written in capital letters below the lines. The lines and the text are in a blue color.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

# 3.1 ESG at Gestamp

Sustainability has formed one of the strategic focuses of Gestamp ever since the very beginning, evidenced by its commitment to designing and manufacturing parts that make vehicles safer for people and more efficient, helping reduce CO2 emissions throughout their service life.

Gestamp also actively identifies its primary environmental impacts, as well as the related risks and opportunities. On that basis, it develops policies, management systems and procedures to maximise the positive impacts/reduce the negative impacts of its production activities; as such, it is able to minimise its risk exposure and take advantage of any corresponding opportunities.

Image /page/50/Picture/14 description: The image shows a road running through a forest, with a car driving on it. The left side of the image is overlaid with a picture of the Earth.

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Image /page/51/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in a dark blue color. To the right of the word is a blue square containing a stylized graphic of a curved line with a circle at the end, also in white.

[INDEX](#page-1-0)

## STAKEHOLDER VALUE CREATION

Gestamp aims to create long-term value for its stakeholder groups by focusing on the way they interact with society and the environment, seeking to create bonds and prioritising the development of direct lines of dialogue and communication to promote a cooperative space in which it is possible to express concerns.

| 1. Letter from the Chairman<br>2. Gestamp Group  | STAKEHOLDERS                    | Employees                                                                                                                                                                                                               | Customers                                                                                                                                                                       | Suppliers                                                                                                                             | Regulatory Bodies                                                                                                                                    | Financial Community                                                                                                                                                                                                                                                         | Civil Society and Opinion<br>Makers                                                                                                                                                                                |
|--------------------------------------------------|---------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 3. ESG Perspective<br>4. Environmental Dimension | LINES OF<br>COMMUNICATION1      | Corporate intranet, internal<br>newsletters, suggestion boxes,<br>whistleblowing hotline,<br>performance evaluation tools,<br>direct contact with HR in the<br>workplace, social media                                  | Customer platforms, periodic<br>meetings and audits, co-designs,<br>customer and sector events,<br>daily operational contact in each<br>production plant                        | Digital platform for suppliers,<br>contractual specifications, special<br>collaborations, recurrent meetings,<br>direct local contact | Lobbying; national, international<br>and sectoral association events                                                                                 | Conferences, roadshows, site<br>visits, meetings, ad-hoc calls,<br>questionnaires, Capital Markets<br>Day, participation in ESG ratings,<br>reports and conference calls on<br>quarterly financial results                                                                  | Press releases and social media;<br>participation in industry forums,<br>talks and events; social action and<br>volunteer work                                                                                     |
| 5. Social Dimension<br>6. Governance             | INDICATORS OF<br>VALUE CREATION | •<br>44,262 employees<br>•<br>95 nationalities<br>•<br>28 hours of training per<br>employee<br>•<br>21.5% of positions occupied by<br>women<br>•<br>7.9% salary gap<br>•<br>€ 1,810.71 million on personnel<br>expenses | •<br>€12,273.7 million turned over 13<br>R&D centres<br>•<br>€ 69.93 million invested in<br>innovation<br>•<br>1,300 patents, utility models and<br>corresponding applications. | •<br>€ 9,815 million on purchases<br>•<br>19,555 suppliers with invoicing<br>•<br>94% local suppliers                                 | •<br>Participation in 56 local and<br>international associations and<br>bodies.<br>•<br>Alignment with CNMW<br>recommendations on good<br>governance | •<br>EU Taxonomy Eligibility<br>•<br>4.19% eligible turnover<br>•<br>18.76% Capex<br>•<br>€ 949.7 million in Capex<br>•<br>ESG ratings above sector average<br>•<br>-25.1% reduction in scope 1 and 2<br>emissions (compared to 2018)<br>•<br>37% renewable energy consumed | •<br>229 social action initiatives<br>•<br>464,827 beneficiaries<br>•<br>€ 1.13 million invested in social<br>action<br>•<br>1,565 employees who<br>volunteered for initiatives<br>•<br>187 collaborating entities |
| 7. Annexes                                       | RELATED<br>CHAPTERS             | •<br>Chapter on Talent<br>•<br>Chapter on Occupational Health<br>and Safety.<br>•<br>Chapter on Contribution to<br>Society.                                                                                             | •<br>Chapter on Operational<br>Excellence<br>•<br>Chapter on Road to Neutrality                                                                                                 | •<br>Chapter on Responsible Supply<br>Chain Management                                                                                | •<br>Chapter on Contribution to<br>Society<br>•<br>Chapter on Good Governance<br>and Ethics                                                          | •<br>Chapter on Financial Results<br>•<br>Chapter on ESG Perspective<br>•<br>Chapter on Good Governance<br>and Ethics<br>•<br>Chapter on Road to Neutrality                                                                                                                 | •<br>Chapter on Social Contribution                                                                                                                                                                                |

1 In addition to these specific channels, Gestamp also has its company website: : [www.gestamp.com](https://gestamp.com/es/home)

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Image /page/52/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in a dark blue color. To the right of the word is a square containing a stylized graphic, also in dark blue. The graphic appears to be a curved line with a circle at the end, suggesting a connection or link.

Image /page/52/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked vertically.

#### [1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

## CONTRIBUTION TO SUSTAINABLE DEVELOPMENT GOALS (SDG)

Gestamp utilises its business activities to maximise its contribution to the United Nation's Sustainable Development Goals, with this being possible mainly thanks to its commitment to sustainable industry, the circular economy, employment creation and the fight against climate change.

In order to help achieve these goals the company follows the SDG Compass2 guide, using it to choose which SDGs to prioritise within the company based on their impact along the entire supply chain: design and development, manufacture, use and end of service life.

**[More information on Gestamp's contribution to the Sustainable Development Goals](https://www.gestamp.com/Sostenibilidad/Objetivos-de-Desarrollo-Sostenible)**

Image /page/52/Picture/15 description: The image shows the Sustainable Development Goal 3 logo, which is for Good Health and Well-being. The logo is green and features the number 3 at the top, followed by the words "SALUD Y BIENESTAR" in smaller text. Below the text is a white line graph with a heart at the end.

Gestamp designs and develops components that make vehicles safer in the event of an

[Chapter on Operational Excellence](#page-15-0)

Image /page/52/Picture/19 description: The image shows a statement from Gestamp about their commitment to technological development, innovation, efficient use of natural resources, human rights, and safe working conditions. The text reads, "Gestamp drives technological development and innovation, as well as the efficient use of natural resources. In addition, it safeguards human rights and decent, safe work that ensures that no person who works for the company is put at risk."

[Chapter on Operational Excellence](#page-15-0) [Chapter on Health and Safety](#page-134-0) [Chapter on Good Governance and Ethics](#page-162-0)

Image /page/52/Picture/21 description: The image is a square orange icon with the number 9 in white in the upper left corner. Below the number, in white text, are the words "INDUSTRIA, INNOVACION E INFRAESTRUCTURA". Below the text is a white graphic of three cubes stacked on top of each other.

Gestamp strives to bring about a more sustainable and inclusive automotive industry through its contribution to technological development and employment creation.

[Chapter on Talent](#page-108-0) [Chapter on Operational Excellence](#page-15-0)

Image /page/52/Picture/24 description: The image shows the Sustainable Development Goals (SDGs) logo, which consists of a circular arrangement of 17 colorful icons, each representing one of the goals. The icons are arranged around the words "SUSTAINABLE DEVELOPMENT GOALS" in blue text. Each goal is represented by a different color and a unique icon. Goal 3, "Good Health and Well-Being," is represented by a green icon with a heartbeat symbol. Goal 13, "Climate Action," is represented by a green icon with an eye looking at the earth. Goal 12, "Responsible Consumption and Production," is represented by an orange icon with an infinity symbol. Goal 11, "Sustainable Cities and Communities," is represented by an orange icon with buildings. Goal 9, "Industry, Innovation, and Infrastructure," is represented by an orange icon with gears. Goal 8, "Decent Work and Economic Growth," is represented by a maroon icon with a graph. Goal 17, "Partnerships for the Goals," is represented by a light blue icon with a flower. Goal 16, "Peace, Justice, and Strong Institutions," is represented by a light blue icon with a dove. Goal 14, "Life Below Water," is represented by a light blue icon with a fish. The image also includes the Spanish translations of goals 11, 12, and 13.

Gestamp helps provide safe and more [Chapter on Operational Excellence](#page-15-0)

sustainable transport systems.

Image /page/52/Picture/27 description: The image shows a text excerpt stating that Gestamp promotes the efficient use of natural resources, works to reduce the waste it generates, and mitigates the adverse effects on the environment caused during the entire lifecycle of its products.

[Chapter on Environmental Management](#page-84-0) [Chapter on Circularity](#page-75-0)

Gestamp fights against climate change by adopting mitigation and adaptation measures.

[Chapter on Road to Neutrality](#page-60-0)

2Developed by the UN Global Compact, the WBCSD and GRI.

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<span id="page-53-0"></span>Image /page/53/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in a dark blue color. To the right of the word is a stylized graphic, also in dark blue, that resembles a curved line with a small circle at the end, suggesting movement or connection.

Image /page/53/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked vertically, resembling a hamburger menu icon.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

# 3.2 ESG strategy

Ever since Gestamp was founded, sustainability has always been one of its key strategic pillar. In the design, development and manufacture of parts for vehicles, Gestamp remains faithful to its commitment to producing vehicles that are safer - with a view to keeping passengers and pedestrians safe - and lighter, while reducing CO2 emissions during the vehicle's service life.

Gestamp views sustainability as a way of creating long-term value in a bid to boost the growth strategy and enable all stakeholder groups to gain a competitive edge.

As the interests of its stakeholder groups figure ever more prominently in its long-term vision, Gestamp subjects all its operations to certain environmental, social and governance-related criteria. This approach gives Gestamp an essential competitive edge and enables the company to take its place among the major players of the sector.

## DOUBLE MATERIALITY ANALYSIS

In 2023, with the guidance of an external consultant, Gestamp conducted a double materiality analysis based on GRI standards, the Corporate Sustainability Reporting Directive (CSRD) and the reporting standards (ESRS) developed by EFRAG.

The primary aim of this analysis is to identify and assess the main positive and negative environmental and social impacts of the company's activities (impact materiality) and the related risks and opportunities that may arise for the company (financial materiality). It can then set out to define its management model, strategy and action plan accordingly.

To this end, according to a particular methodology (see Annex: Double Materiality Methodology) involving a qualitative assessment of Impacts, Risks and Opportunities (IROs), it was possible to identify and assess, by way of a bottom-up approach, sub-topics, on the one hand, and the most relevant ESG topics for the company, on the other hand. The company's materiality matrix has been produced on the basis of the results:

Image /page/53/Figure/19 description: This image is a materiality matrix, plotting different environmental, social, and governance (ESG) factors based on their impact and financial materiality. The x-axis represents financial materiality, and the y-axis represents impact materiality. The matrix is divided into four quadrants: High Impact Materiality, High Materiality, Low Materiality, and High Financial Materiality. Several ESG factors are plotted on the matrix. 'Water' is in the top left quadrant. 'Responsible supply chain' is in the top center. 'Occupational health and safety', 'Business conduct', 'Own workforce', 'Product innovation and quality', 'Climate Change', and 'Circular economy' are in the top right quadrant. 'Affected communities', 'Pollution', and 'Biodiversity and ecosystems' are in the bottom left quadrant. The image also includes a legend indicating the colors used for environmental, social, and governance factors, as well as a symbol for the scope of materiality.

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Image /page/54/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in blue. To the right of the word is a blue square containing a white graphic that resembles a stylized "G" or a curved line with a circle at the end.

Image /page/54/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked vertically.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

This way, **8 topics** considered to be material are identified, either due to their financial materiality or impact materiality:

#### OWN WORKFORCE

Management of direct employees and of workers not directly employed but whose work is controlled by the company (subcontracted).

#### **Sub-topics**

- **•** Attracting and retaining employees and employee loyalty.
- **•** Freedom of association.
- **•** Diversity and inclusion.
- **•** Human rights in the workplace.

Image /page/54/Picture/19 description: The image shows the text "ODS" followed by two icons. The first icon is red and features the number 5 at the top and a symbol representing gender equality below. The second icon is maroon and features the number 8 at the top and a graphic of an upward trending line graph below.

#### CLIMATE CHANGE

Measures and strategies to reduce the company's impact on Climate Change (GHG emissions)2 and to develop its capacity to adapt and respond to physical and transitionrelated risks.

#### **Sub-topics**

- **•** Climate Strategy.
- **•** Energy Efficiency.
- **•** Helping to decarbonise transport.

Image /page/54/Picture/26 description: The image contains the text "ODS" followed by two Sustainable Development Goal (SDG) icons. The first icon, SDG 7, is a yellow square with a white sun symbol in the center, representing affordable and clean energy. The second icon, SDG 13, is a green square with a white eye symbol containing a globe, representing climate action.

## BUSINESS CONDUCT

Development of policies, control systems and measures introduced by Gestamp to ensure matters such as business ethics, corporate culture or information security are duly addressed.

#### **Sub-topics**

- **•** Good governance.
- **•** Risk and opportunity management.
- **•** Transparency.
- **•** Ethics, Integrity, Corruption and Bribery.
- **•** Regulatory compliance.
- **•** Cybersecurity.

Image /page/54/Picture/36 description: The image shows the text "ODS" on the left and the Sustainable Development Goal 16 logo on the right. The SDG 16 logo is a blue square with the number 16 at the top and the words "PEACE, JUSTICE AND STRONG INSTITUTIONS" below the number. A white dove holding an olive branch and a gavel are in the center of the logo.

#### CIRCULAR ECONOMY

Design of lighter products and development of production processes that promote: the efficient use of resources and the recovery of waste for the purpose of manufacturing components with a high content of recycled material.

#### **Sub-topics**

- **•** Responsible use of raw materials.
- **•** Waste management.
- **•** Product life cycle.

Image /page/54/Picture/43 description: The image shows the letters "ODS" followed by two Sustainable Development Goals (SDG) icons. The first icon is SDG 12, which represents Responsible Consumption and Production. It is an orange square with the number 12 at the top and an infinity symbol in the center. The second icon is SDG 13, which represents Climate Action. It is a green square with the number 13 at the top and an eye with the Earth inside it in the center.

#### PRODUCT INNOVATION AND QUALITY

Capacity of the company to develop products that not only comply with high standards of excellence, but also fulfil environmental and social criteria during their service life.

#### **Sub-topics**

- **•** Innovation
- **•** Quality
- **•** Sustainable mobility
- **•** Safety (passive)

Image /page/54/Picture/51 description: The image shows the acronym 'ODS' followed by two Sustainable Development Goals (SDG) icons. The first icon, SDG 9, is orange and represents 'Industry, Innovation, and Infrastructure,' featuring a graphic of interconnected cubes. The second icon, SDG 12, is gold and represents 'Responsible Consumption and Production,' featuring a graphic of an infinity symbol made of arrows.

#### RESPONSIBLE SUPPLY CHAIN

Development of supplier management and evaluation channels: suppliers will not be considered by Gestamp unless they are able to meet the minimum ESG criteria established in those channels.

#### **Sub-topics**

- **•** Responsible Supply Chain
- **•** Human rights in the supply chain

# **ODS**

#### OCCUPATIONAL HEALTH AND SAFETY

Prevention, mitigation and reduction of occupational accidents and illnesses, as well as their frequency and severity, as a way of promoting employee well-being.

#### **Sub-topics**

**•** Occupational Health and Safety.

| ODS | Image: 3 GOOD HEALTH AND WELL-BEING | Image: 8 DECENT WORK AND ECONOMIC GROWTH |
|-----|-------------------------------------|------------------------------------------|
|-----|-------------------------------------|------------------------------------------|

#### WATER

Responsible and efficient use of water resources in operations, by treating water appropriately and reducing the water footprint.

#### **Sub-topics**

**•** Water management.

| ODS | <img src="image_of_water_drop"/> |
|-----|----------------------------------|
|     | 6 CLEAN WATER AND SANITATION     |

#### 2GHG: Greenhouse Gases

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Image /page/55/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in a dark blue color. To the right of the word is a square containing a stylized graphic of a curved line with a circle at the end, also in white, against a dark blue background.

#### [3. ESG PERSPECTIVE](#page-49-0) [3.1 ESG at Gestamp](#page-50-0) **[3.2 ESG Strategy](#page-53-0)** [3.3 ESG Criteria Ratings](#page-58-0)

## ANNUAL REPORT 2023

Image /page/55/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked on top of each other.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

It should be noted that the methodology diverged considerably from the approach adopted in the materiality analysis published in 2022, as the concept of relevance for stakeholder groups (internal and external) gave way to an impact (inside-out perspective) and risk and opportunity (outside-in perspective) analysis. As such, while analysis granularity is greater in 2023, the number of material topics fell from 20 to 8 (12 fewer), meaning that it is possible to identify those that are particularly relevant for the company.

These matters are addressed in the **8 strategic pillars** which form the cornerstone of the company's ESG strategy, and in the ambitious targets it has set for the next few years.

Information about the company's ability to manage the most relevant impacts, risks and opportunities for Gestamp in 2023 is detailed in the various chapters of this report.

Image /page/55/Picture/14 description: The image shows a view looking up into a canopy of green trees. The branches are dark and silhouetted against the bright green leaves. The sky is visible through the leaves, creating a dappled light effect.

However, some risks and opportunities identified by the analysis, as indicated in the bellow material topics, are the broadest in scope:

#### BUSINESS CONDUCT

#### **Risks**

Violation of ESG transparency requirements which may result in sanctions or reputational damage for the company

Image /page/55/Picture/19 description: The image contains two icons. The first icon is a triangle divided into three horizontal sections, with the bottom two sections filled with yellow. The second icon is a gauge with a needle pointing to the green section.

Violation of local or international ESG regulations (for instance, reports, due diligence, environmental legislation, taxonomy, etc.).

Image /page/55/Picture/21 description: The image contains two icons. The first icon is a blue triangle with two horizontal yellow bars inside, stacked on top of each other. The second icon is a gauge with a blue needle pointing to the green area, indicating a certain level or performance.

#### RISK AND OPPORTUNITY MANAGEMENT

**Risks**

Inefficiencies in risk management arising from the lack of adequate integration of traditional risks with ESG risks.

Image /page/55/Picture/25 description: The image contains two icons. The first icon is a blue triangle divided into three horizontal sections. The bottom two sections are filled with yellow color. The second icon is a speedometer with a blue needle pointing to the green section of the dial. The rest of the dial is gray.

#### **Opportunities**

Improvement of the ESG strategy and definition of objectives derived from the competent management of associated risks.

Image /page/55/Picture/28 description: The image contains two icons. The first icon is a green pyramid with three horizontal lines dividing it into four sections, all outlined in blue. The second icon is a speedometer with a blue needle pointing towards the yellow section of the gauge, which is outlined in gray and blue.

| Severity/Magnitude     | Probability                                                                      |
|------------------------|----------------------------------------------------------------------------------|
| Image: Low severity    | Image: Low probability                                                           |
| Image: Medium severity | Image: Medium probability                                                        |
| Image: High severity   | Image: High probability                                                          |
|                        | N/A Impact considered to exist (actual) which is why probability is disregarded. |

All the other identified IROs are described in the various chapters of this 2023 Annual Report.

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Image /page/56/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in a dark blue color. To the right of the word is a stylized graphic, also in dark blue, that resembles a curved line with a small circle at the end, suggesting movement or connectivity.

#### [3. ESG PERSPECTIVE](#page-49-0) [3.1 ESG at Gestamp](#page-50-0) **[3.2 ESG Strategy](#page-53-0)** [3.3 ESG Criteria Ratings](#page-58-0)

## ANNUAL REPORT 2023

Image /page/56/Picture/3 description: The image shows the word "INDEX" in a sans-serif font, with three horizontal lines above it. The lines are of equal length and are stacked vertically, with a small gap between each line.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

# 2025 ESG PLAN

According to the ESG strategy that the company has developed over a number of years, in 2023 Gestamp published its **[ESG](https://www.gestamp.com/Gestamp11/media/GestampFiles/Sustainability/Estrategia%20ESG/ESG-PLAN-2025-GESTAMP.pdf?ext=.pdf)  [Plan for 2025](https://www.gestamp.com/Gestamp11/media/GestampFiles/Sustainability/Estrategia%20ESG/ESG-PLAN-2025-GESTAMP.pdf?ext=.pdf)**, which addresses in greater detail the company's strategic ESG priorities for the next few years.

In determining the scope of the plan, Gestamp has considered the sustainability initiatives that the company has already implemented and identified the areas that produce most added value for the business and its stakeholder groups.

Following this internal task, steps were taken to identify and analyse the primary megatrends and global risks, the main international and sector-based sustainability frameworks, the company's strategy, the requirements of key customers, competitor analysis, the sector-based requirements of ESG ratings agencies, and the 2022 materiality study; moreover, the results were contrasted with the 2023 double materiality study (See Double Materiality Analysis).

It is made up of eight strategic areas for which quantitative objectives and initiatives have been set for 2025 and which affect all divisions of the company across all regions in which it operates.

Every area and objective of the plan has been designed to minimise the negative impacts/maximise the positive impacts of the company in these respects, reduce the probability that the risks will occur, and take advantage of any corresponding opportunities.

Image /page/56/Figure/17 description: The image is a circular diagram outlining the criteria and ratings for ESG (Environmental, Social, and Governance) factors. The diagram is divided into several sections, each representing a different aspect of ESG. The sections include Business Conduct, Climate Change, Circular Economy/Product Innovation and Quality, Biodiversity and Ecosystems/Pollution/Water/Circular Economy, Occupational Health and Safety, Affected Communities, and Own Workforce. Each section contains specific goals and metrics related to that aspect of ESG. For example, the Business Conduct section includes goals such as "Deployment of the third party due diligence policy in more than 60% of countries (80% off total turnover)" and "Implementation of Human Rights due diligence program." The Climate Change section includes goals such as "62% of the energy used by Gestamp in 2025 will be renewable" and "45% reduction of tCO2e in scopes 1&2 in 2025." The diagram also includes images of people and symbols related to each section, such as a handshake for Business Conduct and a recycling symbol for Circularity.

{57}------------------------------------------------

#### [3. ESG PERSPECTIVE](#page-49-0) [3.1 ESG at Gestamp](#page-50-0) **[3.2 ESG Strategy](#page-53-0)** [3.3 ESG Criteria Ratings](#page-58-0)

## ANNUAL REPORT 2023

Image /page/57/Picture/3 description: The image shows the word "INDEX" in a sans-serif font, with three horizontal lines above it. The lines are of equal length and are stacked vertically, with a small space between each line. The lines and the word "INDEX" are in a dark blue color, and the background is white.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

## ESG GOVERNING BODIES

From an organisational point of view, and in order to promote policies and initiatives with a focus on the environment, society and good governance, in 2023 Gestamp:

Consolidated the process by which the ESG Department

# reports directly

**to the company's executive chair**

Image /page/57/Picture/16 description: The image shows a modern office lobby with several people. In the foreground, a woman with dark hair pulled back in a ponytail is standing near a white reception desk. She is wearing a dark cardigan, a patterned top, and jeans. Behind her, there's a staircase and a lamp hanging above the reception area. Further into the lobby, two women are engaged in conversation, while two men are walking towards the camera. One man is wearing a pink shirt and khaki pants, and the other is wearing a light blue button-down shirt and dark jeans. The lobby has a polished floor, and there are large windows and doors in the background.

## 3 ESG Committee meetings Held

**ESG Committee meetings, chaired by the Executive Chair and attended by representatives of the company's senior management**

7 Held

**Board of Directors' Sustainability Committee meetings**

Image /page/57/Figure/21 description: The image shows a group of people with a speech bubble above them, followed by an arrow pointing to the right, and the word "Report".

Responsible for establishing the level of ambition and defining the areas of the estrategic plan and ensuring its achievement.

Image /page/57/Picture/24 description: The image shows a diagram with a person icon in the center. An arrow points from the text "Report directly" to the person icon, and another arrow points from the person icon to the text "Meetings".

#### ESG DEPARTAMENT EXECUTIVE CHAIRMAN ESG COMMITTEE

Image /page/57/Picture/26 description: The image shows a blue and white icon of a person speaking to two people sitting at a table. The speaker is on the left, and a speech bubble is above their head. The two people are sitting at a table on the right.

Body responsible fos approving the Strategic Plan and monitoring its achievement.

![](https://raw.githubusercontent.com/google/generative-ai-community/main/case_studies/visual_prompting/images/meeting.png)

#### SUSTAINABILITY COMMITTEE *BOARD OF DIRECTORS*

Strategic Plan supervision and transmission of its progess to the Board.

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Image /page/58/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked on top of each other.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

# 3.3 ESG Criteria Ratings

Gestamp is assessed by several ESG rating agencies, is rated above average in the sector and continues to move in the right direction based on 2023 results.

These scores are of growing importance not just to investors, analysts and financial institutions, but also to customers, as they are a true reflection of the company's ESG performance.

Image /page/58/Picture/14 description: A close-up shot depicts a person's hand gripping a car's steering wheel, with the dashboard and windshield visible in the background. The scene is bathed in warm, golden sunlight, suggesting either sunrise or sunset. A smartphone is mounted on the dashboard, and the road ahead is slightly blurred, indicating motion.

Incluided in the Sustainability Yearbook de 2024 6th of the Auto Components Automobiles & Parts - Auto Parts. Incluided in FTSE4Good Ibex (BME). 8th percentile in the auto components industry. 7th percentile in the auto parts subindustry. Metal products manufacturing. TOP 4% of the global metal supplier industry. Silver medal 69 **/100 (+5)** 12,2 **(-9,8)\*** 59 **/100 (+1)** 69 **/100 (+4)\*** 4,1 **/5 (+0,2)** B **LOW RISK \*Lower score, lower risk level ROBUST LEVEL Same score as in 2022** B **CLIMATE** B **WATER** A**- SUPPLIER ENGAGEMENT**

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ANNUAL REPORT 20**23** | GESTAMP [INDEX](#page-1-0)

# <span id="page-59-0"></span>04 Environmental Dimension

- 4.1 [Road to Neutrality](#page-60-0)
- 4.2 [Circularity](#page-75-0)
- 4.3 [Environmental Managementl](#page-84-0)

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<span id="page-60-0"></span>Image /page/60/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in a dark blue color. To the right of the word is a stylized graphic, also in dark blue, that resembles a curved line with a small circle at one end, enclosed in a square.

#### ANNUAL REPORT 2023

Image /page/60/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked on top of each other.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

# 4.1 Road to neutrality

Climate change is a global challenge that requires both economic and strategic efforts. In this sense, it is a source of great opportunities that require innovative solutions, investment and new commitments in the short, medium and long term.

Gestamp tackles the challenge of sustainable mobility and decarbonization of the sector while understanding that all agents in the value chain must be involved and work together by building alliances that allow them to achieve common and more ambitious goals.

As a result of the double materiality analysis, the following impacts, risks and opportunities linked to the material issue of **Climate Change** have been achieved:

#### IMPACT

(GHGs).

Deterioration of air quality as a consequence of emissions from fossil fuel consumption

#### RISKS4

Increased exposure to extreme weather events: cyclones, hurricanes, typhoons, tornadoes, etc.

An increase in temperature could result in increased air conditioning costs for Gestamp, especially related to providing a suitable environment for the health and safety of its employees.

Increased costs resulting from the transition to low-emission technologies.

Variation in the availability of resources due to climate change leading to a decrease in supply and an increase in prices.

Image /page/60/Picture/23 description: This is an aerial shot of a lush green landscape, possibly a forest or mountainous region, partially obscured by a layer of white clouds or fog. The right side of the image is dominated by dense, dark green trees, suggesting a thick forest. The left side transitions into a lighter green area, possibly indicating a clearing or a different type of vegetation. A significant portion of the left side is covered by white clouds or fog, which adds a sense of mystery and depth to the image. The overall composition suggests a remote, untouched natural environment.

#### OPPORTUNITIES

Image /page/60/Figure/25 description: The image shows a table with information about cost savings, access to new markets, and improvement of the industry's reputation. The table includes information about the severity/magnitude and probability of each item. The severity/magnitude is rated as low, medium, or high, and the probability is also rated as low, medium, or high. The table also includes a note that impact is considered to exist (actual) which is why probability is disregarded.

4 The climate risks and opportunities identified in the Dual Materiality analysis are linked to the results obtained in the ROCC analysis (see "Strategy" section of the "Road to Neutrality" chapter).

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## ANNUAL REPORT 2023

Image /page/61/Figure/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are stacked on top of each other, with each line being slightly shorter than the one below it.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

In 2020, Gestamp validated by SBTi its emission reduction targets: 30% reduction of Scope 1 and 2 emissions and 22% reduction of Scope 3 (base year 2018). Due to regulatory changes and customer requirements in 2022 Gestamp decided to increase the level of ambition regarding Scope 1 and 2 emission reductions. The SBTi targets for scope 1 and 2 will be actualized during 2024.

**2045**

Climate Neutral

**SCOPE 1 and 2**

**2050**

Climate Neutral

**SCOPES 1, 2 and 3**

**Road to Neutrality**

**2030**

Climate Neutral

**SCOPE 2**

In 2023, Gestamp has kept on working on a new strategy to combat Climate Change as required by regulations such as the EU climate-neutral by 2050 objective and the emission reduction targets of its customers.

To define this strategy, the company:

- **•** Has a multidisciplinary working group led by ESG Management, with the participation of the Environment, Purchasing, Energy Efficiency, Commercial and Operations departments.
- **•** Analyses the neutrality targets and time horizons of automotive manufacturers and their requirements for greenhouse gas reductions in production processes.
- **•** Monitors, for all production plants, the most intensive sources of emissions, both by type of installation and by type of fuel.
- **•** Studies, both technically and economically, the feasibility of establishing emission reduction measures for the 3 scopes over time.

#### CLIMATE-NEUTRAL TARGETS

Gestamp will be neutral in Gestamp will be neutral in Gestamp will be neutral in

Scope 2
by 2030

Scopes 1 and

Gestamp will be neutral in

Scope 2 Scopes 1 and 2 Scopes 1, 2 and 3 **by 2030 by 2045 by 2050 at a global level**

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#### ANNUAL REPORT 2023

As a result of these efforts, the neutrality commitments are supported by a detailed decarbonisation roadmap with intermediate targets for scopes 1 and 2 in 2025 and 2030, lowered to the level of production centres and facilities.

Image /page/62/Picture/4 description: The image shows the word "INDEX" in a sans-serif font, with three horizontal lines above it. The lines are a teal color, and the word "INDEX" is in a darker teal color.

Regarding Scope 3, Gestamp is aware of the challenge of establishing initiatives to reduce its emissions outside its direct control. Despite this, in 2023 the company has continued to work with its main suppliers and will continue to reinforce measures aimed at reducing these emissions in 2024.

| 1. Letter from the Chairman | Description                            | Level of achievement   |
|-----------------------------|----------------------------------------|------------------------|
| 2. Gestamp Group            | Scope 1 and 2 tCO2 emission reductions | 2023 -25%<br>2025 -45% |
| 3. ESG Perspective          | Renewable electricity used             | 2023 37%<br>2025 62%   |

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

Image /page/62/Picture/11 description: A person is standing on a rock in a field with mountains in the background. The sun is setting, and the sky is blue.

#### **Financing and climate change**

Gestamp, extending its commitment to society and aware of the need to implement sustainable financing, has linked the refinancing of a very significant part of its debt with banks to specific decarbonisation objectives. These indicators are included in this report and verified together with the rest of the non-financial information.

#### **Contribution to the decarbonization of vehicles through their useful life**

For many years Gestamp has contributed to emission reductions of vehicles by making their parts lighter, leading to an increase in fuel efficiency and therefore reducing CO2 emissions. To this end, the ESG department, in collaboration with departments such as innovation, purchasing and sales, analyses the carbon footprint of the components and the impact within the vehicle's life cycle.

In addition, Gestamp helps its customers in the challenge of the electrification of the sector and its transition to electric vehicles, providing technological solutions adapted to this environment, which increase both the autonomy and safety of these vehicles. (Please see the innovation section).

In accordance with the recommendations provided by the Task Force on Climate-Related Financial Disclosures (TCFD) working group, and after becoming a *[supporter](https://www.fsb-tcfd.org/)* of the initiative in 2022, Gestamp has worked on climate change-related disclosure in four topic areas: governance model, strategy, risk management and metrics and objectives.

Image /page/62/Picture/18 description: The image shows the logo for CDP, which consists of a red geometric shape on the left and the letters "CDP" in red on the right. The geometric shape is made up of several triangles arranged in a circular pattern. The letters "CDP" are in a bold, sans-serif font.

Gestamp has scored B in the "Climate" questionnaire of the international initiative Carbon Disclosure Project Climate (CDP).

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Image /page/63/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in a dark blue color. To the right of the word is a stylized graphic, also in dark blue, that resembles a curved line with a circle at the end, suggesting a connection or technology symbol.

#### ANNUAL REPORT 2023

Image /page/63/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked on top of each other.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

## GOVERNANCE

Gestamp regards climate change as a challenge that must be addressed at the highest level within the company. To this end, it boasts governing bodies which are responsible for promoting, approving and monitoring Climate Change risks and opportunities analysis as well as the Climate Change mitigation and adaptation strategy within the Group.

Given the size, complexity of the operating structure of the Gestamp Group and the importance of ESG matters, organisational functions are required within the Group to coordinate and manage activities related to climate change in all companies, business divisions and regions of the Group.

#### BOARD OF DIRECTORS

Responsible for the supervision and control of the sustainability strategy of the Group which comprises all climate-related matters.

**• Sustainability Committee-** set up within the Board of Directors and made up of members of this board. Its functions involve proposing, reviewing and assessing the ESG strategy, which includes climate change-related matters, and submitting this strategy to the Board of Directors.

In 2023, the company's Risk and Opportunities for Climate Change (ROCCs) analysis has been submitted to the Commission for validation and climate change risks have been integrated into Gestamp's corporate risk map.

#### **ESG COMMITTEE**

Made up of the Executive Chairman and members of the Senior Management of the Group, its main role is to approve ESG goals, including decarbonization goals prior submission to the Board of Directors. It also monitors the different action plans.

#### ESG CORPORATE DEPARTMENT

Reporting directly to the Executive Chairman of Gestamp since 2022, this is the department responsible for defining the ambition of Gestamp's decarbonization strategy and ensuring that it is in line with the expectations of customers, regulators, investors and society in general.

#### CLIMATE CHANGE WORKING GROUP

Created in 2022 and continued during 2023 on a bimonthly basis; made up of experts from the Environment, Energy Efficiency, Operations, Procurement and Commercial departments. This is an operational working group led by ESG Management which is responsible for defining the emission reduction targets and measures of the company in response to climate change risks and opportunities.

#### CORPORATE ENVIRONMENTAL DEPARTMENT

This is the function responsible for controlling the achievement of environmental objectives and collecting the main indicators from plants such as energy consumption, water consumption, raw materials and waste production every quarter; and calculating the carbon footprint of the whole Group.

#### ENERGY EFFICIENCY DEPARTMENT

Responsible for identifying and implementing energy saving measures at plant level. In addition, it monitors the energy consumption of the Group's main plants in real time with a tool developed by an external company.

#### CORPORATE PURCHASING DEPARTMENT

Responsible for setting up the renewable energy purchasing strategy, which is key to achieving the scope 2 emission reduction targets.

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Image /page/64/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, dark blue font. To the right of the word is a square containing a white, stylized graphic that resembles a curved line with a circle at the end, all set against a dark blue background.

## ANNUAL REPORT 2023

Image /page/64/Picture/3 description: The image shows three horizontal lines stacked on top of each other, with the word "INDEX" written below the lines. The lines and the text are in a blue color.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

# STRATEGY

The automotive and components manufacturing sector is faced with a great deal of climate challenges as a result of the Paris Agreement; at a European level the climate-neutral targets for 2050 set out by the European Green Deal; the Fit for 55 package of measures to reduce emissions by at least 55% by 2030; the ban on manufacturing combustion-engine cars from 2035; and the Nationally Determined Contributions (NDC) of various countries.

Furthermore, these regulatory frameworks highlight the need to proceed with a fair transition model, endeavouring to not leave anyone behind.

In addition, climate change gives rise to an increase in temperatures and extreme weather phenomena, as well as loss of resources, which must be taken into account by companies in the industry in order to mitigate their impact.

Gestamp considers climate change risk in the Corporate Risk Map and it carries out a specific analysis on Climate Change risks and opportunities affecting business in order to:

**•** Anticipate and adapt to the climatic risks that affect business, as well as take advantage of the opportunities it may offer.

**•** Measure the financial impacts of climate change according to different scenarios and possible futures in the short, medium and long term.

During 2023, a climate scenario analysis was conducted in line with the recommendations of the Intergovernmental Panel on Climate Change (IPCC), the International Energy Agency (IEA) and the EU Green Taxonomy. In this way, Gestamp has identified the **main opportunities** presented by climate change for the company and a total of **47 physical and transition risks** in different time horizons: short (0-5 years), medium (6-15 years) and long term (16-30 years).

Image /page/64/Picture/19 description: This is an aerial shot of a winding road cutting through a dense forest. The road is dark gray and has white lines marking the lanes. Several cars are visible on the road, scattered along its curves. The forest is lush and green, with a variety of trees creating a dense canopy. The overall perspective is from directly above, providing a bird's-eye view of the scene.

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Based on this result, Gestamp identifies the most relevant risks and opportunities for the company:

| INDEX                       |                  | DESCRIPTION OF THE RISK                                 | TIMEFRAME              | ECONOMIC<br>IMPACT | DESCRIPTION OF THE IMPACT OF THE<br>RISK                                                                                                                                                                                                   | RISK MANAGEMENT                                                                                                                                                                                                                                                                                                                                                                                                   |
|-----------------------------|------------------|---------------------------------------------------------|------------------------|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                             | Physical risks   |                                                         |                        |                    |                                                                                                                                                                                                                                            |                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 1. Letter from the Chairman | Acute            | Extreme weather events (Cyclone, hurricane, typhoon...) | Image: ClockShort Term | Image: BarsMedium  | Risk linked to the increased frequency and intensity of extreme weather events. It can lead to supply problems, inability of employees to access the workplace, and increased difficulties associated with service delivery, among others. | Although the probability of occurrence is low, Gestamp has several contingency plans and central and local action plans in place to mitigate risks posed by natural disasters, including emergency and evacuation plans as well as insurance cover which includes natural catastrophes.                                                                                                                           |
| 2. Gestamp Group            | Chronic          | Temperature variability                                 | Image: ClockShort Term | Image: BarsMedium  | An increase in temperature could result in increased air conditioning costs for Gestamp, especially related to providing a suitable environment for the health and safety of its employees.                                                | Studies are being conducted on the behaviour of the indoor air of the facilities in order to allocate resources in the most efficient way possible.                                                                                                                                                                                                                                                               |
| 3. ESG Perspective          |                  |                                                         |                        |                    |                                                                                                                                                                                                                                            |                                                                                                                                                                                                                                                                                                                                                                                                                   |
|                             | Transition risks |                                                         |                        |                    |                                                                                                                                                                                                                                            |                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 4. Environmental Dimension  | Market           | Variation in resource availability                      | Image: ClockShort Term | Image: BarsHigh    | Variation in the availability of resources can have consequences on the cost of raw materials, which could lead to shortages, increases in input costs due to a reduction in supply or a decrease in product quality.                      | Thanks to the lightening of parts, Gestamp has managed to reduce the use of raw materials in its parts and has opted for a circularity strategy where the reintroduction of scrap as a secondary raw material becomes fundamental in the system. In this sense, it has established agreements with suppliers to enable the availability of materials with a high recycled content, and in turn, more sustainable. |
| 5. Social Dimension         |                  |                                                         |                        |                    |                                                                                                                                                                                                                                            |                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 6. Governance               | Technological    | Transition to low-emission technologies                 | Image: ClockLong Term  | Image: BarsHigh    | The transition to low-emission technologies will entail a number of associated costs, notably in the purchase of new equipment or the replacement of models and/or manufacturing technologies with cleaner alternatives.                   | The R&D departments at Gestamp co-develop new technological and product solutions with customers which reduce emissions during the manufacture and life of vehicles.                                                                                                                                                                                                                                              |

[7. Annexes](#page-199-0)

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[INDEX](#page-1-0)

[1. Letter from the Chairman](#page-2-0)

|                          | DESCRIPTION OF THE OPPORTUNITY         | TIMEFRAME    | FINANCIAL<br>IMPACT | DESCRIPTION OF THE IMPACT OF THE<br>OPPORTUNITY                                                                                                                                                                                                                                                                     | MANAGEMENT OF THE OPPORTUNITY                                                                                                                                                                                                                                                                                                    |
|--------------------------|----------------------------------------|--------------|---------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Transition opportunities |                                        |              |                     |                                                                                                                                                                                                                                                                                                                     |                                                                                                                                                                                                                                                                                                                                  |
| Cost reduction           | Cost savings from renewable energy use | Image: clock | Image: bars         | This opportunity is based on projected savings based<br>on Gestamp's emissions reduction targets of 30% by<br>2030.                                                                                                                                                                                                 | In 2022 Gestamp has approved its climate-neutral by 2050 strategy (please see<br>above) while establishing, in addition to other measures, a change of machinery<br>plan and a renewable energy purchasing strategy. Furthermore, in 2020 it validated<br>its emission reduction targets in accordance with the SBTi initiative. |
| Products and<br>services | Ecodesign and circular economy         | Image: clock | Image: bars         | The incorporation of new, more eco-efficient and<br>environmentally friendly products can mean an<br>increase in business for Gestamp. With an increasingly<br>climate-conscious population, customers are looking<br>for products and suppliers that meet the market's<br>expectations in terms of ESG commitment. | Gestamp, thanks to the progress of the R&D department, has become a leader in<br>hot stamping technologies, which together with its experience in multi-material<br>solutions, offers innovative alternatives with components being made lighter.                                                                                |
|                          | Electric vehicle market                | Image: clock | Image: bars         | The opportunity focuses on customer behaviour,<br>addressing the increased sensitivity to the impact of<br>their consumption and activities on the environment<br>and opting for more sustainable products and services.                                                                                            | Gestamp has set up a business unit exclusively devoted to electric vehicle batteries<br>in order to centralize efforts and address any challenges and opportunities that<br>arise.                                                                                                                                               |

#### [4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

These results will be used to define mitigation and adaptation measures for the identified risks.

*For additional information on Gestamp's Climate Change performance, see the 2023 Climate Change report on the Carbon Disclosure Project platform (<https://www.cdp.net>).*

Image /page/66/Picture/10 description: The image shows a group of people standing in what appears to be an office setting. The scene is somewhat blurred and has a blue tint, giving it an ethereal or dreamlike quality. The people are not clearly defined, but their silhouettes suggest they are engaged in conversation or a meeting. The background includes elements of a modern building, possibly with glass walls or windows, which contribute to the overall sense of a professional environment.

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Image /page/67/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in a dark blue color. To the right of the word is a stylized graphic, also in dark blue, that resembles a curved line with a small circle at the end, suggesting movement or connectivity.

## ANNUAL REPORT 2023

Image /page/67/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked vertically, with a small space between each line.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

# RISK MANAGEMENT

Gestamp boasts a Comprehensive Risk Management System (CRMS) whose aim is to ensure that financial and non-financial risks are identified, assessed and managed so that they do not have a negative effect on the achievement of the organisation's objectives or on its reputation.

The Corporate Risk Map includes climate change risks, see Risk Management Chapter. Once climate risks and opportunities have been identified, they are assessed according to a series of specific criteria, the results of which are used to establish controls.

The climate risks identified in the various areas of the company influence the overall strategy of Gestamp and are included in the overall risk management, with measures being established to manage these risks as follows:

Image /page/67/Picture/22 description: A close-up shot captures the side of a car parked on an asphalt road, with the road stretching into the distance. The car's tire and part of its body are visible on the left side of the frame. The asphalt road is textured and appears to be well-maintained. In the background, there are hills and mountains under a partly cloudy sky, adding depth to the scene.

- **• Products and services:** Gestamp has boasted a strategy for products and services related to climate change since electric vehicles entered the market. For the rolling out of electric vehicles, in 2018 Gestamp set up a new business unit devoted to electric vehicles whose task is to develop the best solutions to adapt its products to the new technical demands of electric cars.
- **• Value chain:** the company's processes regarding supply chain consider 2 key lines: 1) Participation in working groups together with customers to seek projects that guarantee CO2 emission reductions throughout the useful life of vehicles. 2) Collaborate with suppliers to align with the scope 3 reduction targets and achieve a supply chain with a lower climate footprint.

Some examples in 2023 are:

- **-** ArcelorMittal Europe Flat Products and Gestamp, have signed a "circularity agreement". The agreement includes jointly designing and implementing a circularity scheme that encourages steel recycling between Gestamp and ArcelorMittal, and ultimately passing on the benefits of the agreement to automobile manufacturers.
- **-** Tata Steel and Gestamp have signed an agreement aimed at almost doubling the percentage of recycled steel in components supplied to the automotive sector. The initiative will allow Gestamp to pass on to vehicle manufacturers the benefits of increasing recycled material, as well as reducing the associated carbon footprint.

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## ANNUAL REPORT 2023

Image /page/68/Picture/3 description: The image shows the word "INDEX" in blue text below three horizontal blue lines.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

**• Investment in R&D:** Customers seek lighter parts which allow them to lower the weight of end vehicles so as to be able to reduce emissions per km. In this sense, the mission of the R&D Department is to develop innovative solutions that enable the weight of the parts to be reduced, thus contributing to a reduction in the overall weight of the vehicle. This approach results in lower fuel consumption, thus reducing CO2 emissions into the atmosphere. Gestamp also supports the approval of new materials (low-emission, recycled, etc.) and favours co-development throughout the value chain for the design of the product required for the mobility of the future.

**• Operations:** In 2023, Gestamp has defined a roadmap, in accordance with the ESG 2025 Plan, to reduce its Scope 1 and 2 emissions, in line with the Paris Agreement and the requirements of its customers. These measures include energy efficiency actions (see "Metrics and targets" in the "Road to neutrality" section of this chapter) to reduce consumption and electrify their facilities. In this vein, Gestamp boasts a renewable energy supply strategy by means of three channels:

**-** Signing of long-term renewable energy supply agreements, PPAs (power purchase agreement). In 2023, in the Indian perimeter, the extension of the solar PPA has been signed at the Chennai plant, and work has been done so that the Pune plant has an operational solar PPA in 2024. At the same time, the negotiation of a 15-year contract for the supply of 49 GWh of wind energy to plants in Mexico by the company Elawan.

**-** Purchase of Renewable Energy Certificates (EACs). In 2023, production plants in the United Kingdom, the Nitra plant in Slovakia and Hardtech in Sweden have used green energy with guarantees of origin, while in Poland the electricity company made green certificates available. Likewise, renewable energy certificates were purchased for part of consumption in Germany, the Czech Republic, China, Mexico and the USA.

**-** Energy self-consumption. In 2023, 25.5 GWh of photovoltaic solar energy will be self-consumed from plants in China, Turkey, Bulgaria, Spain and Portugal. During this year, a total of 13 solar self-consumption plants have been launched, 11 in Spain, 1 in Portugal, 1 in Bulgaria and 2 in Turkey. The deployment in these countries will end next year. Additionally, a contract has been signed with EDF for the installation of solar covers in 7 plants in Germany and work has been underway on solar self-consumption agreements in France, the United Kingdom and Japan that are expected to be launched next year.

Image /page/68/Picture/16 description: A close-up shot of the rear of a gray car parked on the side of a road. The car's taillights are visible, with one of them illuminated in orange. The road curves gently into the distance, and the background features a landscape with a cloudy sky.

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Image /page/69/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, dark blue font. To the right of the word is a dark blue square containing a white graphic of curved lines.

#### ANNUAL REPORT 2023

Image /page/69/Picture/3 description: The image shows three horizontal lines above the word "INDEX". The lines are all the same length and are stacked on top of each other. The word "INDEX" is in all caps and is located directly below the lines.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

## METRICS AND TARGETS

**Energy consumption**

natural gas, diesel oil and LPG.

5% other fuels.

Since 2006 the company has monitored the carbon footprint of all production centres corporationwide every quarter. Each plant reports its energy consumption levels in a database and, based on this information, the carbon footprint of each centre and the overall footprint are calculated according to GHG Protocol and IPCC procedures.

All Gestamp production processes need a source of energy in order to function. Therefore, the different sources of energy consumed at the facilities are comprehensively tracked: Electricity,

The distribution of energy consumption globally is divided into 60% electricity, 35% natural gas and

Energy consumption by fuel type (GJ) 2021 2022 2023 Electricity 3,762,902 3,977,471 4,167,390 Natural gas 2,604,914 2,358,550 2,388,841 LPG 282,400 335,083 338,281 Diesel 26,342 25,985 23,153 **Total energy consumption 6,676,588 6,697,089 6,917,665 Renewable energy consumption\* 347,915 1,329,133 1,735,762 % of total consumption 5% 20% 25%** Electricity is the main type of energy consumed by the Group, given that its plants use electricity as an energy source for most of the production processes, and also to power the facilities. Natural gas is used mainly for air conditioning in buildings, so consumption is usually seasonal. In addition, some production plants use it in processes like hot stamping and in painting lines. The other fuel types are linked primarily to the fleet of forklifts at the plants.

Image /page/69/Picture/14 description: A man wearing a black t-shirt with the word "Gestamp" on the back is working with a machine. The man is wearing blue arm sleeves and gloves. The machine is large and gray, with various metal parts and a blue interior. There are safety signs on the machine. The man is standing in front of the machine, and he appears to be manipulating a piece of metal. There is a metal cart in the foreground.

\*Renewable energy consumption data is obtained from the purchasing department. See reason for the increase in renewable consumption in the CO2 Emissions Index.

| Evolution of the energy intensity ratio                                                | 2021 | 2022 | 2023 |
|----------------------------------------------------------------------------------------|------|------|------|
| Energy intensity ratio (Total energy consump-<br>tion in GJ /100 euros of value added) | 240  | 202  | 191  |

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2023

#### **GHG emissions**

[INDEX](#page-1-0)

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

**GHG emissions**

In recent years, despite the increase in production plants and the introduction of hot stamping, technology that is more intensive in the use of energy, Gestamp has managed to reduce CO2 emissions (in relative terms) thanks to improved environmental management and process improvement.

| Greenhouse gas emissions (TnCO₂eq)                         | 2021       | 2022      | 2023       | % of total emissions |
|------------------------------------------------------------|------------|-----------|------------|----------------------|
| Direct Emissions: Scope 1                                  | 209,106    | 197,907   | 198,281    | 1.8%                 |
| Natural gas                                                | 176,003    | 159,268   | 160,590    | 1.5%                 |
| LPG                                                        | 21,913     | 25,776    | 25,992     | 0.2%                 |
| Diesel                                                     | 9,540      | 9,816     | 8,752      | 0.1%                 |
| Indirect Emissions: Scope 2*                               | 356,500    | 297,789   | 295,928    | 2.8%                 |
| Indirect Emissions: Scope 3                                | 9,674,616  | 8,633,929 | 10,232,475 | 95.4%                |
| Category 1 - Purchased goods and services                  | 7,559,053  | 6,578,857 | 7,963,187  | 74.2%                |
| Category 2 - Capital goods                                 | 218,778    | 281,975   | 391,885    | 3.7%                 |
| Category 3 - Energy-related activities                     | 158,479    | 156,888   | 159,310    | 1.5%                 |
| Category 4 - Upstream transportation and<br>distribution   | 136,646    | 161,496   | 187,022    | 1.7%                 |
| Category 5 - Waste generated in<br>operations              | 26,300     | 27,527    | 29,987     | 0.3%                 |
| Category 6 - Business travel                               | 11,430     | 16,496    | 18,524     | 0.2%                 |
| Category 7 - Employee commuting                            | 31,988     | 35,177    | 36,401     | 0.3%                 |
| Category 8 - Upstream leased assets                        | 44,147     | 42,493    | 22,990     | 0.2%                 |
| Category 9 - Downstream transportation<br>and distribution | 0          | 0         | 0          | 0%                   |
| Category 10 - Processing of sold products                  | 0          | 0         | 0          | 0%                   |
| Category 11 - Use of sold products                         | 0          | 0         | 0          | 0%                   |
| Category 12 - End-of-life treatment of sold<br>products    | 1,445,465  | 1,293,325 | 1,383,821  | 12.9%                |
| Category 13 - Downstream leased assets                     | 0          | 0         | 0          | 0%                   |
| Category 14 - Franchises                                   | 0          | 0         | 0          | 0%                   |
| Category 15 - Investments                                  | 42,330     | 39,695    | 39,348     | 0.4%                 |
| TOTAL emissions Scopes 1+2+3                               | 10,240,222 | 9,129,625 | 10,726,686 | 100%                 |

Internally, the CO2 Emissions Index (defined as tCO2 Scope 1 and 2/€100,000 AV) is used as a tool to assess the Group level performance in terms of emissions. During 2023, a reduction in this index has been achieved thanks to the implementation of energy efficiency measures and the contracting of energy from renewable sources that have allowed emissions to be reduced despite the greater energy consumption associated with the increase in activity in the Group.

| Evolution of the CO₂ Emission Index                                | 2021 | 2022 | 2023 |
|--------------------------------------------------------------------|------|------|------|
| CO2 Emission Index (tonnes of CO2 //EUR<br>100,000 of added value) | 21   | 15   | 14   |

#### OTHER SIGNIFICANT EMISSIONS INTO THE AIR

| SO2 and NOx Emissions (Tn) | 2021  | 2022   | 2023   |
|----------------------------|-------|--------|--------|
| SO2 Emissions              | 1.9   | 1.97   | 1.84   |
| NOx Emissions              | 322.4 | 308.78 | 312.23 |

Both SO2and NOx emissions come from Natural Gas, LPG or Diesel combustion and will gradually decrease as the Group stops using fossil fuels in accordance with its commitment to reduce emissions.

| VOC's (Tn) Emissions | 2021 | 2022 | 2023 |
|----------------------|------|------|------|
| VOC's Emissions      | 210  | 223  | 241  |

VOC emissions are produced as a result of solvent use.

\* Scope 2 calculated according to the market-based method. Using the location-based method would be 393,823 tCO2. \*\*Category 1 of Scope 3 calculated with information available as of 02/22/2024.

The emission factors used for fossil fuels come from DEFRA. In the case of electricity, they are requested directly from the supplier of each plant (if not available, the country's electricity emission factor provided by the International Energy Agency is taken). For Scope 3, DEFRA, CEDA and Sphera sources are combined for aluminium and steel consumption. The % are always referred to total emissions, so they do not have to add up to 100 as a whole. In the breakdown of Scope 1 into the different fuel types, only the main fuels are taken into account. There are other sources of Scope 1 emissions that are taken into account in the total but have not been disaggregated.

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Image /page/71/Figure/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked vertically, suggesting a menu or list icon.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

Image /page/71/Picture/11 description: This is an aerial shot of a parking lot covered with solar panels. The parking lot is mostly empty, with only a few cars parked in the spaces. The solar panels are arranged in rows, and they cover the entire parking lot. In the background, there are some buildings and trees.

#### **Energy Efficiency**

Gestamp is committed to reduce emissions and consumption in all production plants within the Group. In terms of Energy Efficiency, in the last years a global initiative has been launched to optimize and reduce the energy consumption and to be environmentally responsible. Each production plant is working individually and together with other plants to implement measures to rationalize the consumption and to make sure all the technologies and equipment are working in the most efficient way from an energy point of view.

The commitment to emissions reduction, environmental protection, equipment performance optimization and operational excellence, drive this initiative in Gestamp Group. The Energy Efficiency project aimed at making improvements through several areas:

- **•** Analysis of consumption and knowledge of the energy performance of the individual productive assets and facilities
- **•** Study of good practices implemented in the Group
- **•** Research into new improvement channels
- **•** Sharing of all acquired knowledge.
- **•** Setting of aims and the involvement of all organizational levels of the company.

To achieve those aims, the instantaneous consumption of electricity and gas of the equipment are monitored to create a model of its performance. Based on those consumption patterns, algorithms to identify quantify and notify deviations, are created.

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Image /page/72/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in a dark blue color. To the right of the word is a square containing a stylized graphic. The graphic consists of two curved lines that start thin and become thicker as they curve around to form a hook shape. At the end of the hook is a small circle. The lines are white, and the square is dark blue.

2023

In 2023, over 47 plants formed part of the Energy Efficiency initiative. A total of 9% of the plants included in this scope were certified under the energy management system standard ISO 50001. For the remaining plants included in the initiative, it is worth saying that the strategy used regarding

Specific Energy Efficiency measures were identified and implemented at each of these plants to optimize the functioning of equipment and to reduce its electricity and natural gas consumption. Furthermore, standard documents related to shut-down protocols and other good practices were launched globally. Shut down protocols were followed in the production assets during non-working periods which resulted in significant improvement in energy KPIs and a reduction of non-essential energy consumption. These initiatives together enabled the Group to achieve a reduction of almost

Additionally, a 16 GWh energy savings has been achieved in plants which are out of scope of energy efficiency initiative through continuous application of shut-down protocols and energy efficiency

Just to reinforce the Energy Efficiency initiative and the shut-down protocols application, an Energy Efficiency audit program was also globally announced to all divisions and launched in a pilot plant at the end of 2023. This audit program will continue being implemented during 2024 with the aim of identifying non-standard practices which correction will result in additional energy efficiency

From a global perspective within the group, a 51 GWh energy savings were achieved in 2023.

energy efficiency is based on the requirements from ISO 50001 guidelines.

#### **Results achieved in 2023**

35 GWh.

best practices.

savings for the plants.

Image /page/72/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked on top of each other.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

2023 FIGURES

Image /page/72/Figure/12 description: The image shows six statistics. 47 plants involved. 77 improvement measures implemented. Reduction of 12,646 tonnes of CO2. 1.65 million euros invested. Return on investment period: around 1.5 years. Greater than 50% have required no investment.

The consumption reductions achieved in 2023 are summarized in the following table\*:

Image /page/72/Figure/14 description: The image shows a comparison of electricity, gas, and total energy consumption in MWH. Electricity consumption is 26,422 MWH, gas consumption is 25,058 MWH, and the total energy consumption is 51,480 MWH.

In 2024, Gestamp will continue to consolidate the initiative, achieving a high degree of maturity at the European plants and implementing improvements at the North American and Asian plants.

\*The information provided refers to the perimeter of the 47 plants that are part of the energy efficiency initiative.

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Image /page/73/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in blue. To the right of the word is a blue square containing a white graphic that resembles a stylized "G" or a curved line with a circle at the end.

[INDEX](#page-1-0)

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

Image /page/73/Figure/11 description: The image contains the title "Breakdown of measures by type (%)".

Image /page/73/Figure/12 description: This image is a donut chart titled "MWh REDUCED". The chart shows the percentage of reduction from different sources. Compressed air accounts for 51%, gas usage accounts for 16%, non-essential power consumption accounts for 25%, and new technologies account for 8%.

#### **Types and examples of measures undertaken.**

| TYPE OF ENERGY<br>EFFICIENCY MEASURE | NUMBER OF<br>MEASURES | MWH SAVED | TN CO2<br>EMISSIONS<br>AVOIDED | EXAMPLE                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|--------------------------------------|-----------------------|-----------|--------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Compressed air                       | 23                    | 5,161     | 1,155                          | Gestamp West Midlands (U.K.) has managed<br>to conduct an aggressive compressed air<br>leaks audit which helped to identify high<br>number of severe air leaks. The identified leaks<br>were listed, tagged, prioritized, and repaired<br>periodically. This project has led to an annual<br>saving of 357 MWh in the compressed air<br>units.                                                                                                                        |
| Gas usage                            | 4                     | 1,648     | 398                            | Gestamp Polska (Poland) has implemented<br>a project to reduce gas consumption by the<br>installation of destratification fans which<br>improved the circulation of heat in the facility.<br>This project allowed switching off the boilers<br>during some periods leading to a reduction<br>in gas consumption without undermining<br>plant heating. After measure implementation<br>1,505 MWh of gas consumption were reduced<br>annually.                          |
| New technologies                     | 18                    | 867       | 311                            | Gestamp Lapeer (U.S.A.) has managed to re-<br>duce its electricity consumption by 259 MWh<br>by replacing all inefficient lamps with efficient<br>LEDs. New lighting points can be managed<br>thanks to an intelligent management system<br>which increases savings.                                                                                                                                                                                                  |
| Non essential power<br>consumption   | 32                    | 2,510     | 892                            | Gestamp Vigo (Spain) has achieved an energy<br>reduction in electricity through optimization<br>in the extraction fan dedicated to a specific<br>welding installation. After the implementa-<br>tion of an efficient extractor fan, there is no<br>need to switch on the general extractor fan<br>since this installation counts on its own as<br>more efficient extractor. Thanks to this optimi-<br>zation the project has resulted to 27 MWh in<br>energy savings. |
| Total general                        | 77                    | 10,186    | 2,757                          |                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |

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Image /page/74/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, dark blue font. To the right of the word is a blue square with a white design inside. The design consists of a curved line that starts in the upper left corner of the square and curves down and to the right, ending in a small circle in the lower right corner of the square.

Image /page/74/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked vertically, suggesting a menu or index icon.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### PROJECT EXPECTATIONS AND PLAN FOR 2024

In 2024, the energy efficiency scope will be extended to 53 plants, and the reductions in consumption achieved through the measures implemented until now, will continue in 2024. Furthermore, new objectives for 2024 were defined based on the potential energy efficiency actions that could be implemented in each plant, as seen in the table below:

|             | Total MWh  | Emissions avoided |
|-------------|------------|-------------------|
| Target 2024 | 48,950 MWh | 12,025 tCO2       |

#### LONG-TERM EXPECTED OUTCOMES

From 2024 forward, Gestamp will keep working to optimize consumption at the plants involved in the project, endeavoring to find ideal consumption levels for production and auxiliary equipment. The dynamics of responsible consumption at the plants will be consolidated by implementing an energy performance standard at the plants. In this way, and by monitoring energy consumption, the plants will be capable of standardizing the expected performance, assessing, and predicting deviations by using energy production indicators for equipment and energy management.

Energy-related best practices are being integrated and consolidated in a cross-disciplinary manner across all the Group's teams strategies: ESG, R&D, new construction, expansions, Operations, etc.

Image /page/74/Picture/17 description: The image shows a tunnel-like structure made of metal sheets. The sheets are arranged in a series of arches, creating a sense of depth and perspective. The color palette is dominated by shades of blue, which gives the image a cool and industrial feel. The lighting is dim, with a brighter area at the end of the tunnel, drawing the viewer's eye towards the vanishing point. The metal sheets have a smooth, reflective surface, which adds to the overall aesthetic of the image.

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<span id="page-75-0"></span>Image /page/75/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, dark blue font. To the right of the word is a square containing a stylized graphic of a curved line with a circle at the end, also in dark blue.

#### [4. ENVIRONMENTAL DIMENSION](#page-59-0) [4.1 Road to Neutrality](#page-60-0) [4.2 Circularity](#page-75-0) [4.3 Environmental Mana](#page-84-0)

#### ANNUAL REPORT 2023

Image /page/75/Picture/3 description: The image shows a symbol consisting of three horizontal lines stacked on top of each other. Below the lines, the word "INDEX" is written in a sans-serif font.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

# 4.2 Circularity

Gestamp seeks to develop the circularity of its business model, promoting the use of its scrap as a secondary raw material in the production of low-emission steel, reducing the extraction of raw materials such as steel and aluminium and promoting the optimisation of waste management.

Image /page/75/Figure/13 description: The image shows a diagram of the steel production and recycling process for cars. The diagram is circular, with arrows indicating the flow of materials. The process starts with raw material extraction, which leads to steel production. Steel production also receives materials from other sources of pre-consumer scrap and pre-consumer scrap. The steel is then used in manufacturing, which leads to the use phase of the car. After the use phase, the car is sent to scrap collection and processing, which also receives materials from other sources of scrap. The scrap is then sent back to steel production as cropst-consumer AP, completing the cycle.

Image /page/75/Picture/14 description: The image shows a field of wind turbines against an orange sky with clouds. The turbines are silhouetted against the sky, and their blades are turning. The sky is a mix of orange and white, and the clouds are scattered throughout the sky.

Image /page/75/Picture/15 description: The image shows a field with several wind turbines in the background. The sky is a gradient of orange and yellow, suggesting it is either sunrise or sunset. The field is mostly dark, with some patches of grass visible in the foreground.

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Image /page/76/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in a dark blue color. To the right of the word is a stylized graphic, also in dark blue, that resembles a curved line with a small circle at the end, enclosed in a square.

Image /page/76/Picture/3 description: The image shows three horizontal lines stacked on top of each other, with the word "INDEX" written below them. The lines and the word are in a blue color.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

From the dual materiality analysis carried out, some impacts, risks and opportunities linked to the material topic **Circular Economy** have been identified:

As a result of Gestamp's circularity development efforts, some objectives have been established in the ESG 2025 Plan:

| IMPACT                                                                                                                                                                      |   |  | Description                                                                                                 |     | Level of achievement |                                                                                                                                                                  |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---|--|-------------------------------------------------------------------------------------------------------------|-----|----------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Reduction of raw material extraction and CO2 emissions in the supply chain due to increased recycling and reuse of steel.                                                   | + |  | Strengthen agreements with suppliers regarding steel with recycled content and the purchase of green steel. | N/A | 2023<br>2025         | Tata Steel, SSAB and Arcelor Mittal<br>Done                                                                                                                      |
| Improved product quality and useful life due to more durable components, leading to a reduction in waste generation.                                                        | + |  | Partnerships with scrap management suppliers to promote circularity.                                        | N/A | 2023<br>2025         | Acquisition of Gescrap<br>Done                                                                                                                                   |
| RISKS                                                                                                                                                                       |   |  |                                                                                                             |     |                      |                                                                                                                                                                  |
| Uncertainty arising from the current volatility in green/low carbon steel prices.                                                                                           |   |  | Carbon footprint analysis of product families.                                                              |     | 2023<br>2025         | 20%<br>100%                                                                                                                                                      |
| The difficulty of accessing secondary raw materials with sufficient quality guarantees curbs the progressive development of parts with a high content of "green" materials. |   |  | AENOR Circular Economy Certification                                                                        |     | 2023<br>2025         | Gestamp's Circular Economy Strategy Management Model has been Certified by AENOR<br>Circular economy certification of centers that represent 80% of total sales. |
| OPPORTUNITIES                                                                                                                                                               |   |  |                                                                                                             |     |                      |                                                                                                                                                                  |
| Increase in Gestamp's business due to the inclusion of new products more aligned with the sustainability requirements of customers.                                         |   |  |                                                                                                             |     |                      |                                                                                                                                                                  |
| Differentiation from the competition through low-emission steel/aluminium content that meets market needs.                                                                  |   |  |                                                                                                             |     |                      |                                                                                                                                                                  |
| Research to reduce vehicle weight and emissions offers the opportunity to reduce the use of raw materials in the manufacturing of parts.                                    |   |  |                                                                                                             |     |                      |                                                                                                                                                                  |
| The manufacture of lighter parts helps increase vehicle efficiency and reduces fuel consumption.                                                                            |   |  |                                                                                                             |     |                      |                                                                                                                                                                  |
| Improved efficiency of production systems through their digitalisation and automation (Industry 4.0).                                                                       |   |  |                                                                                                             |     |                      | N/A Impact considered to exist (actual) which is why probability is disregarded.                                                                                 |

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Image /page/77/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in a dark blue color. To the right of the word is a blue square containing a stylized graphic of a curved line with a circle at the end, also in white.

Image /page/77/Picture/3 description: The image shows a stylized representation of a menu icon with the word "INDEX" written below it. The icon consists of three horizontal lines stacked on top of each other. The lines and the word "INDEX" are in a teal color.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

## GESTAMP'S CIRCULARITY STRATEGY

Gestamp considers circularity to be one of the basic pillars of its sustainability strategy, identifying raw material consumption as one of its greatest areas of environmental impact. Seeking the generation of new materials with a high percentage of recycled content to mitigate this impact becomes especially relevant.

This is why Gestamp identifies the high value of its commitment to the circular economy and for a model based on:

Image /page/77/Picture/14 description: The image shows a simple illustration. A small, filled blue circle is positioned above a black, blocky shape that resembles a pedestal or a simplified building. The circle appears to be floating or suspended above the blocky shape.

**INCREASE IN RECYCLED MATERIAL**

Development of partnerships that promote "closing the loop" projects.

Image /page/77/Picture/17 description: The image shows a blue pushpin.

#### **EFFICIENT USE OF RESOURCES**

Developing production processes that promote the efficient use of resources (raw materials, water and energy).

Image /page/77/Picture/20 description: The image shows a blue and white icon of a trash can with a warning sign on it and a gear next to it. The trash can is outlined in blue, and the warning sign is a blue triangle with an exclamation point inside. The gear is also blue and is located to the right of the trash can.

#### **WASTE MANAGEMENT**

Development of waste management processes that enhance the availability of secondary raw materials.

However, Gestamp faces significant challenges related to the so-called "green" steel. Its availability is directly related to decarbonisation strategies and the investments of the main suppliers, which entails additional costs. Approval is also required to ensure that they meet the strict technical and quality requirements of customers. Similarly, there are obstacles to the acquisition of aluminium and other composite materials, which although used to a lesser extent by the company, present the same difficulties in terms of availability, costs and approval requirements.

## AENOR CERTIFICATION: CIRCULAR ECONOMY STRATEGY

Given the challenges of defining priorities in the circular economy, AENOR has developed a certification of the Circular Economy Strategy Management Model. This model provides organisations with a reference framework that helps determine the relevance of the aspects to be addressed and identify their contribution to international circular economy principles. In this regard, Gestamp has worked during 2023 on obtaining the AENOR Circular Economy certification, demonstrating its firm commitment to innovative practices in this area.

Image /page/77/Picture/26 description: The image shows the logo for AENOR ESTRATEGIA. The word "AENOR" is in large, bold, white letters on a black background. Below that, the word "ESTRATEGIA" is in smaller, white letters on a white background.

Image /page/77/Picture/28 description: A group of five people are standing in front of a wall with the word "Gestamp" written on it. The person in the center is holding a framed certificate. From left to right, the first person is a man with a beard wearing a patterned shirt. The second person is a man with graying hair wearing a dark sweater and a lanyard. The third person is a woman with long dark hair wearing a white embroidered shirt. The fourth person is a woman with long brown hair wearing a black long-sleeved shirt and a light-colored vest. The fifth person is a man with dark hair wearing a light-colored blazer.

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Image /page/78/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in dark blue. To the right of the word is a square containing a stylized image of a curved line with a circle at the end, also in white against a dark blue background.

Image /page/78/Picture/2 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked on top of each other.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

## [4. ENVIRONMENTAL DIMENSION](#page-59-0) [4.1 Road to Neutrality](#page-60-0) [4.2 Circularity](#page-75-0) [4.3 Environmental Management](#page-84-0)

## IMPLEMENTATION OF THE STRATEGY

#### **Circularity management policies**

Gestamp has a series of corporate policies in order to implement its circular economy strategy and management across its value chain:

**• ESG policy** (approved 27 February 2024): Focused on creating circular business models in the automotive sector, especially the manufacture of components with a high recycled material content, implemented through the reintroduction of scrap as a secondary raw material and through Gestamp's proper waste management and recovery.

**• Environmental policy:** It seeks to reduce waste generated from our production activity with the implementation and maintenance of a circular economy model.

**• ESG criteria for suppliers:** It aims to promote the circular economy through suppliers, resulting in a reduction in waste generation at source and promoting its recycling, reuse and recovery as far as possible.

Image /page/78/Picture/17 description: A close-up shot captures a meeting in progress, with several individuals gathered around a table covered in documents and notebooks. One person is holding a pen and appears to be taking notes on a yellow sticky note. The table is cluttered with papers, including what seems to be a graph or chart, and a brown leather notebook. The focus is on the hands and documents, suggesting a collaborative work environment.

Image /page/78/Picture/18 description: The image shows a collection of documents and stationery items spread out on a surface. There are papers with graphs, charts, and a world map printed on them. Some of the papers feature a green logo with a leaf and globe design. A yellow sticky note is placed on top of one of the documents, and a pen rests on the papers. The scene is partially illuminated by sunlight, creating bright highlights and shadows across the documents.

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Image /page/79/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in a dark blue color. To the right of the word is a square containing a stylized graphic. The graphic consists of two curved lines that form a partial loop, with a small circle at the end of the loop. The graphic is white, and the square is dark blue.

Image /page/79/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked on top of each other.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### **Actions to ensure the correct management**

#### INCREASE IN RECYCLED MATERIAL CONTENT: AGREEMENTS AND PARTNERSHIPS

As part of its commitment to the circular economy and despite the challenges described, in recent years Gestamp has undertaken a series of measures and initiatives::

- **•** Collaboration with other members of the sector through work groups and associations such as Catena-X, Sernauto and Forética, to prepare and define more circular strategies.
- **•** Meetings with strategic suppliers to position itself as a major player in order to ensure the availability of green steel and steel with a high content of recycled material. An example of this are the agreements signed in 2023 with [Tata Steel](https://www.gestamp.com/Medios/Prensa/Comunicados-de-prensa/2023/Gestamp-y-Tata-Steel-firman-alianza-para-aumentar-casi-al-doble-el-acero-reciclado-en-su-produccion), [SSAB](https://www.gestamp.com/Medios/Prensa/Comunicados-de-prensa/2023/Gestamp-y-SSAB-inician-una-alianza-para-utilizar-acero-libre-de-fosiles) and [Arcelor Mittal](https://www.gestamp.com/Medios/Prensa/Comunicados-de-prensa/2023/ArcelorMittal-y-Gestamp-firman-un-acuerdo-de-circularidad).
- **•** Collaboration with customers to align with their expectations and requirements.
- **•** Approval and validation of new materials with a high recycled material content, in a collaborative environment between steel mills, the customer and Gestamp.

Image /page/79/Picture/18 description: The image shows a dense forest from an aerial perspective. The canopy is lush and green, with varying shades indicating different types or ages of trees. The trees are closely packed together, creating a continuous blanket of foliage. Some tree trunks are visible, appearing as thin, light-colored lines amidst the greenery. The overall impression is one of a healthy and thriving forest ecosystem.

#### EXAMPLE OF GREEN STEEL APPROVAL

In 2023, Gestamp has begun carrying out the first tests with new, more sustainable materials thanks to the alliances forged with steel suppliers. In this sense, a steel with a high content of recycled material (>75%) and produced with renewable energy through an electric furnace (EAF) has been tested for the manufacture of a component of the chassis division. The first tests have proved successful, determining that this new material does not affect the proper performance of the part.

Thanks to the analysis of the product's carbon footprint (*cradle-to-gate*), it has been determined that with this material we could reduce the equivalent CO2 emissions of the component by up to 63%.

Image /page/79/Figure/22 description: This image shows a bar chart comparing the carbon dioxide emissions of green steel and conventional steel. The y-axis is measured in kg CO2 eq. The bar for green steel has a value of 11.93, while the bar for conventional steel has a value of 32.38. A note below the chart states that the result assumes all the stamped parts in green steel. For the analyzed part the result is 16.39 kg CO2 eq. achieving approx. 50% of reduction.

Although steel is the Group's main raw material, and most of the actions have been focused on this material, work is also in progress on signing agreements with aluminium suppliers to comply with the emission reduction and circularity requirements of customers, particularly projects related to battery boxes for electric vehicles.

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Image /page/80/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in a dark blue color. To the right of the word is a square containing a stylized graphic of a curved line with a circle at the end, also in white, against a dark blue background.

Image /page/80/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked on top of each other.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### **Enhancement of availability of secondary raw materials: Gescrap**

With the acquisition in 2022 of 33.3% of the **[Gescrap Group](https://www.gestamp.com/Medios/Prensa/Comunicados-de-prensa/2022/Gestamp-adquiere-una-participacion-estrategica-en-Gescrap-para-potenciar-su-plan-de-ESG)** specialised in the recycling of metals, Gestamp took a further step forward to promote circularity in its business model. This integration allows greater control over the management of metals, obtaining better traceability, and promoting and enabling their use in the production of low-emission steel and with a high content of recycled material.

In this regard, and thanks to the integration of Gescrap, Gestamp seeks to promote the availability of high-quality scrap in the automotive sector. An example of this is the agreement established with Tata on the mass balance where the amount of scrap supplied by Gestamp will be counted as part of the recycled steel material of the final product. In this way, the percentage of recycled material associated with the steel supplied to Gestamp has risen to 30% (from 17%), without it affecting quality, strength or conformability.

Image /page/80/Picture/14 description: The image shows the logo for Gescrap. The logo consists of a circular graphic on the left and the word "GESCRAP" on the right. The circular graphic is made up of two curved shapes, one orange and one blue, that intertwine to form a circle. The word "GESCRAP" is written in a bold, sans-serif font and is colored blue.

Image /page/80/Picture/15 description: The image shows a large, yellow industrial claw suspended from a crane in what appears to be a factory or warehouse setting. The claw is the focal point, with its metallic arms and central body prominently displayed. Above the claw, the crane's lifting mechanism is visible, including pulleys and cables that connect to the overhead structure. The background includes industrial elements such as metal beams, pipes, and a conveyor belt system painted in yellow and blue. The lighting is bright and even, illuminating the scene and highlighting the various components of the industrial equipment.

Image /page/80/Picture/16 description: The image shows a large metal container filled with scrap metal. The container is dark and has some rust and stains on it. The scrap metal is mostly silver in color and appears to be made of thin sheets. The container has yellow and black stripes on the top edge.

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Image /page/81/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in a dark blue color. To the right of the word is a blue square containing a white graphic that resembles a stylized circuit or network connection.

#### [4. ENVIRONMENTAL DIMENSION](#page-59-0) [4.1 Road to Neutrality](#page-60-0) [4.2 Circularity](#page-75-0) [4.3 Environmental Management](#page-84-0)

ANNUAL REPORT 2023

| INDEX |  |
|-------|--|
|-------|--|

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

Image /page/81/Picture/11 description: In the image, two men are examining a silver metal object on a table. The man on the left is wearing a blue jacket and has glasses hanging around his neck. He has a beard and is looking down at the object. The man on the right is wearing a blue suit jacket and has a mustache. He is pointing at the object with his right hand. There is a hand holding a pen in the middle of the image. The metal object is in the foreground and is the main focus of the image. There are some papers and a notebook on the table as well.

#### **Gestamp in the vehicle life cycle**

1

VEHICLE DESIGN AND DEVELOPMENT STAGE

Through our R&D departments, technological developments and customer and supplier collaboration, Gestamp offers solutions to reduce the weight of the parts it manufactures (one of the key factors in the commitment to the decarbonisation of the automotive sector). At this stage, the selection of production processes associated with manufacturing also plays a fundamental role.

Likewise, it becomes necessary to integrate, from the initial design conception phase, the possibilities of the materials used at the end of the useful life of the vehicle, in order to facilitate its recovery (ecodesign).

2

MANUFACTURING STAGE Gestamp uses environmental and social criteria to select its suppliers.

As a Tier 1 supplier of automotive components, Gestamp focuses its manufacturing activity on:

- **•** Optimising the consumption of raw materials and natural resources.
- **•** Optimising production processes and logistics.
- **•** Energy efficiency.
- **•** Correctly managing waste generated.

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Image /page/82/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in a dark blue color. To the right of the word is a square containing a stylized graphic. The graphic consists of two curved lines that start thin and become thicker as they curve around to form a hook shape. At the end of the hook is a small circle. The lines are white, and the square is dark blue.

Image /page/82/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked on top of each other.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### **Analysis of product life-cycle as a strategic element**

In an environment where a common language becomes necessary when measuring the impact of a product on the environment and society, Gestamp is committed to life-cycle analysis as a differentiating factor in the development of its parts. These analyses:

- **•** Provide a global perspective of the complete life-cycle of products in the development phase.
- **•** Make it possible to show the impact on use and end of useful life, which is decisive when codesigning a part.
- **•** Help highlight and reliably quantify the Group's circular strategy.

Despite the fact that the analyses carried out to date have focused on the Global Warming Potential (GWP) and on intermediate analyses of the product's life cycle (Cradle-to-Gate & Gate-to-Gate), Gestamp is considering the possibility of including other categories of future environmental impact such as resource depletion and toxicity. Gestamp also aims to promote the complete analysis of the product life cycle (Cradle-to-Grave) in the coming years. For this, Gestamp has an internal PCF tool (Product Carbon Footprint) which carries out these analyses.

#### PCF GESTAMP TOOL

Gestamp has developed an automated carbon footprint calculation tool for the parts that it manufactures, mainly focused on the Chassis and Body in White divisions, although it plans to expand its scope to Tooling and Edscha. This tool has as its main input a complete database called Life Cycle Inventory adapted to Gestamp's main production processes and the most used raw materials. During its building, a detailed analysis of all production processes was carried out together with the energy efficiency team and its real-time consumption monitoring tool. Likewise, with highly relevant departments in the company, such as the purchasing department, which has worked on obtaining information on suppliers and raw materials; and the engineering and commercial departments, which knew the technical detail of the parts to be analysed.

During 2024, the aim is to certify the calculation methodology behind the PCF tool, as well as the inventory on which it is based.

Image /page/82/Figure/20 description: The image shows a diagram of the life cycle of a product, from cradle to grave. The diagram is divided into three sections: Cradle, Gestamo Gate, and Grave. The Cradle section includes the raw material extraction and material manufacture stages. The Gestamo Gate section includes the auto-parts manufacture stage. The Grave section includes the final product assembly, use stage, and end of life stages. The diagram also includes information about the emission factor material, logistics and material information, Gestamp production information, and scope 3 and scope 1 & 2.

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Image /page/83/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in dark blue. To the right of the word is a square containing a stylized graphic of a curved line with a circle at the end, also in dark blue.

[INDEX](#page-1-0)

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

Image /page/83/Picture/11 description: A man in a green shirt is looking down. He is standing in front of a bookshelf and a plant.

# MONITORING OF OUR CIRCULARITY PERFORMANCE

As part of its circularity strategy, Gestamp is identifying KPIs that will help it to measure its circular economy performance and highlight the great efforts that the company has been making in this area for years. Therefore, various sources are being reviewed, such as:

**CIRCULYTICS INDICATORS BY THE ELLEN MACARTHUR FOUNDATION**

**CIRCULAR TRANSITION INDICATORS (CTI) BY WBCSD** 1 2 3

**CATENA-X CIRCULARITY KIT**

Once these indicators have been identified, Gestamp will review the objectives contained in its ESG 2025 Plan in order to define new ones.

Image /page/83/Picture/18 description: A person in an olive green shirt is holding a tablet in their hands. The person is standing in front of a window. There is a small plant and a model of a wind turbine in the foreground.

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<span id="page-84-0"></span>Image /page/84/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, dark blue font. To the right of the word is a blue square containing a white design that resembles a stylized letter "G" or a curved line with a circle at the end.

#### ANNUAL REPORT 2023

Image /page/84/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked vertically, suggesting a menu or index icon.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

#### [4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

# 4.3 Environmental Management

The environmental management carried out at Gestamp is comprehensive. Environmental criteria are applied in all production stages: from the selection of suppliers and optimization of raw materials to the management of energy consumption necessary for the manufacture of components, waste management and the management of greenhouse gas emissions in the company. product use phase.

Thanks to the double materiality analysis in which the most relevant aspects for the company have been identified, some notable Impacts, risks and opportunities in the material topics of Water and Circular Economy are5 :

#### WATER MANAGEMENT

#### IMPACTS

Increase in water masses and/or decrease in the impact in areas of water stress as a result of improving efficiency in the consumption of water resources in the company's production processes.

#### RISKS RISKS

Shortage of water availability that will affect those production processes that integrate its use, generating an increase in operating costs.

#### OPPORTUNITIES

Reduction in operating costs and dependence on supply in areas of high water stress thanks to the recirculation of water in production processes.

Image /page/84/Figure/21 description: The image contains two icons. The first icon is a blue triangle with two horizontal yellow bars inside. The second icon is a speedometer with a green section and a needle pointing to the green section.

New expanded responsibility of the industrial packaging producer.

pallets, among others).

WASTE MANAGEMENT

IMPACTS

Impact on the environment derived from inadequate management of the final destination of the waste generated (e.g. packaging materials, cardboard, plastics,

N/A N/A

Image /page/84/Figure/23 description: The image contains two icons. The first icon is a triangle divided into three horizontal sections, with the top two sections filled with yellow color. The triangle is outlined in blue. The second icon is a speedometer with a needle pointing towards the green section. The speedometer has a blue outline and a blue needle.

#### Low Low Medium Medium High High N/A Impact considered to exist (actual) which is why probability is disregarded. **Severity/Magnitude Probability**

5 The double materiality analysis has identified that the material issues of Pollution and Biodiversity and ecosystems are not material, so the company's impacts, risks and opportunities in these areas are not detailed in this report

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Image /page/85/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in a dark blue color. To the right of the word is a stylized graphic, also in dark blue, that resembles a curved line with a small circle at the end, suggesting movement or connectivity.

[INDEX](#page-1-0)

[1. Letter from the Chairman](#page-2-0)

In order to minimize these impacts and the negative effects on the company and maximize the positive effects and impacts, Gestamp has an ESG plan in which the following objectives are established:

**14.5%**

6%

**+21.9%**

**-35%**

Water consumption monitoring projects have been developed in 2 facilities.

**2023**

Description Level of achievement

**2025**

**2023**

**2025**

**2023**

**2025**

## POLICY AND ENVIRONMENTAL MANAGEMENT

In order to control and minimise the environmental impact of its activity, Gestamp has established an Environmental Policy that requires the following from all its production centres:

- **•** Implementation and maintenance of a certified Environmental Management System in accordance with international standards (ISO 14001 or EMAS).
- **•** Quarterly reporting of the main environmental aspects through a management tool for monitoring environmental performance, identifying improvements and sharing the implementation of best practices. In this way, the data from all the production centres on water consumption, raw material consumption, waste management, waste production, energy consumption, environmental incidents and best practices is reported to Corporate, which audits it and carries out comprehensive monitoring of its evolution at each of the centres and for the Group as a whole, based on the following key indicators:
- **- WPI.** Waste Production Index
- **- WMI.** Waste Management Index
- **- WCI.** Water Consumption Index
- **- CO2 EI.** CO2 Emission index

Image /page/85/Picture/12 description: A close-up shot captures the intricate details of a vibrant green leaf adorned with glistening water droplets. The droplets, varying in size, cling to the leaf's surface, reflecting light and adding a touch of freshness to the scene. The leaf's texture is visible, with subtle veins and a smooth, glossy surface. A thin stem supports the leaf, adding to the overall composition of the image.

**Done**

Reduction of water consumption by sales (base year 2022)

Global monitoring of water consumption and its reuse in our processes and facilities

Reduction of hazardous waste (base year 2021)

#### **[2025 ESG Plan](https://www.gestamp.com/Gestamp11/media/GestampFiles/Sustainability/Estrategia%20ESG/ESG-PLAN-2025-GESTAMP.pdf?ext=.pdf)**

To achieve its objectives, which aim to minimize impacts and manage opportunities, Gestamp has different management models and associated policies.

#### [5. Social Dimension](#page-107-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[6. Governance](#page-155-0)

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Image /page/86/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in a dark blue color. To the right of the word is a blue square containing a stylized graphic of a curved line with a circle at the end, also in white.

# [INDEX](#page-1-0)

#### [1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

## CERTIFICATIONS AND HUMAN, TECHNICAL AND ECONOMIC RESOURCES

#### **Certifications and audits**

.

[4. ENVIRONMENTAL DIMENSION](#page-59-0)

As of December 31, 2023, the Group had 94% of its plants certified according to the ISO 14001:2015 and/or EMAS standard. During the year, 2 new certifications have been achieved: Gestamp Pune II and Gestamp Wroclaw; and the certifications of Gestamp Kaluga and Gestamp Saint Petersburg have been lost due to the situation of these plants due to the war in Ukraine.

[4.1 Road to Neutrality](#page-60-0)

Each plant is audited both externally and internally every year. In order to carry out internal audits, the Group encourages cross audits in which two specialists from two plants audit a third plant in order to share experiences, replicate solutions, propose improvements, etc. This project is currently implemented in plants in Spain, Portugal, Germany and Brazil.

Furthermore, internal audits have been carried out in all plants that are included in the scope of the Zero Waste certification.

As a new measure implemented in 2023, internal audits have been carried out on the environmental information reported by the plants on the ENVRA platform. Through the verification of invoices and internal documents, it has been verified that the data on water, energy and waste consumption is correct and accurate. These audits have been carried out both electronically (plants in Spain) and in person (USA, France) and will be progressively extended over the next few years until they cover 100% of the Group.

#### **Resources earmarked for environmental prevention: people, provisions and guarantees**

[4.2 Cicularity](#page-75-0) **[4.3 Environmental Management](#page-84-0)**

Gestamp has a professional team dedicated to complying with environmental requirements both at the corporate level and at each of the production plants. Environmental technicians report quarterly to the corporate team, who monitor and evaluate the indicators.

All investments in systems, equipment and facilities in relation to the protection and improvement of the environment, as well as any expenses incurred with regard to the protection and improvement of the environment are set out below:

|                                               | 2021  | 2022  | 2023  |
|-----------------------------------------------|-------|-------|-------|
| Environmental investments<br>(thousands of €) | 4,520 | 5,046 | 6,918 |
| Environmental expenses<br>(thousands of €)    | 1,685 | 1,965 | 2,295 |

Regarding environmental risks, Gestamp makes financial provisions to cover their implementation. Additionally, the company has guarantees in the form of insurance that can cover the occurrence of environmental risks:

- **•** Environmental Liability Insurance.
- **•** Third-Party Liability Cover for Sudden and Accidental Pollution in the General Third-Party Liability policy.

During 2023, three environmental incidents have taken place in the USA that have affected the exterior surface of the factory; But in none of the three cases has it been necessary to activate the guarantees of the Environmental Liability Insurance that the Group has contracted. In 2022, there were no environmental incidents that caused the Environmental Liability Insurance to be activated.

Image /page/86/Picture/24 description: Two men are standing in front of a large industrial machine. The machine is blue and white and has a large metal object on a table in front of it. The men appear to be operating the machine, as one of them is looking at a screen. The machine is in a factory setting, with other machines and equipment visible in the background.

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Image /page/87/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, dark blue font. To the right of the word is a square containing a white graphic of a curved line with a circle at the end, also set against a dark blue background.

| INDEX |  |
|-------|--|
|-------|--|

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

# SUSTAINABLE USE OF RESOURCES

#### **Water**

Water is a limited natural resource for which Gestamp has savings and efficiency plans.

Water consumption at the production plants is predominantly for domestic use. At plants where surface treatment processes take place, such as painting or galvanising parts, or hydroforming processes, there is an industrial use of water. Only 29% of the Group's centres have such a process.

To monitor the development of water consumption, we use the Water Consumption Index, WCI, which measures the m3 of consumed water/€100,000 of added value. The significant variation experienced in this index depends on the part being painted, which directly relates to the projects being worked on with the customer at any given time.

The painting of skin parts, which will eventually be placed on the outside of vehicles, involves certain quality requirements that make it essential to frequently change the baths on the cataphoresis lines. As such, there is a considerable increase in water consumption. Conversely, the baths can be reused in the treatment of structural parts, which entails a low water consumption and a reduction in the WCI.

During 2023, the Group's level of activity has increased and yet a reduction in water consumption can be seen as a result of the saving measures implemented in the production centers. In this way, the Water Consumption Index has been reduced compared to the previous year.

| Water consumption according to the source (m3) | 2021      | 2022      | 2023      |
|------------------------------------------------|-----------|-----------|-----------|
| Public Network                                 | 1,383,704 | 1,584,713 | 1,570,338 |
| Surface Water                                  | 0.241     | 0.240     | 0         |
| Underground Water                              | 255,162   | 206,835   | 183,212   |
| Total                                          | 1,639,107 | 1,791,788 | 1,753,550 |

Image /page/87/Picture/19 description: A close-up shot captures a hand emerging from the water, with the fingers extended upwards. The water is dark and reflective, with glimmers of light dancing across its surface. The hand appears to be reaching out, creating a sense of drama and vulnerability.

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## ANNUAL REPORT 2023

Image /page/88/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked on top of each other.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

Although currently it cannot provide global data on discharge that includes all its centres, it estimates that 10% of water consumption evaporates in production processes and other losses, so 90% of water consumption would be considered as discharge.

Most of the plants discharge in a controlled way into the sewer system where adequate treatment is received through wastewater treatment plants.

In addition, very strict controls are applied to ensure that the quality of the water discharge is sufficient to meet all legal requirements in accordance with the applicable regulatory laws depending on the country and to minimise any possible impact. Specifically, all plants with painting lines have physical-chemical treatment for wastewater.

| Water consumption in water stress areas (m³) | Reference level6 | 2022    | 2023    |
|----------------------------------------------|------------------|---------|---------|
| India                                        | Extremely high   | 79,477  | 46,447  |
| Mexico                                       | High             | 138,638 | 146,415 |
| Portugal                                     | High             | 29,628  | 28,041  |
| Spain                                        | High             | 207,490 | 226,203 |
| Total                                        |                  | 455,233 | 447,106 |
| % of total consumption                       |                  | 25%     | 25%     |

6 It has been taken as a reference National Water Stress Rankings of World Resources Institute (2019).

Gestamp is implementing water monitoring systems to reduce its consumption and promote its recirculation and recycling in plants with production processes with intensive use of water and in regions with water stress:

- **•** In plants with processes such as hydroforming or painting parts, through, for example, closed circuit systems in which water is reused for long periods of time.
- **•** In regions where the risk of water stress is high, through water recycling systems, such as the case of the Chennai plant, India, where they use 41 m3 of treated water per day in the water treatment plant for gardening purposes.

| Water Consumption Index Evolution                                            | 2021 | 2022 | 2022 |
|------------------------------------------------------------------------------|------|------|------|
| Water Consumption Index (m3 of water consumed /100,000 euros of added value) | 59   | 54   | 48   |

In addition, since 2015, it has been completed the CDP Water Disclosure questionnaire, specifically on water issues, publicly disclosing the water footprint and providing information on the different aspects in managing this resource. The rating obtained in the CDP Water 2022 was "B", in line with the score for companies in the Metal Sector.

| CDP 2022 Water Score                     | SCORE (A, B, B-, C, C-, D, D-) |
|------------------------------------------|--------------------------------|
| Gestamp                                  | B                              |
| Average of Companies in the Metal Sector | C                              |

Image /page/88/Picture/22 description: A close-up shot captures a rocky stream with moss-covered stones in the foreground. The water flows gently around the rocks, creating a serene and natural scene. Lush green trees and foliage form a backdrop, adding depth and vibrancy to the composition.

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Image /page/89/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in a dark blue color. To the right of the word is a square containing a stylized graphic of a curved line with a circle at the end, also in white against a dark blue background.

2023

#### **Raw Materials**

Image /page/89/Picture/3 description: The image shows the word "INDEX" in a teal color, with three horizontal teal lines above it. The lines are of equal length and are stacked on top of each other.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

| Raw Materials |  |
|---------------|--|
|               |  |

The manufacture of Gestamp parts requires the use of raw materials (steel, non-ferrous metals) and auxiliary materials (wire, welding gases, oils, etc.).

Furthermore, plants are constantly working on the characteristics of the procured materials, striving to gradually improve the way they are used, replacing oils and toxic or hazardous chemicals with other, less hazardous products or products that have a lower impact on the environment or human health.

Steel and aluminum are the most used raw materials in production processes, representing 96% and 3% by weight of the total materials consumed respectively. Gestamp works to reduce all this consumption by identifying and implementing good practices.

To a lesser extent, representing 2% of total consumables, products such as oil, paint and chemicals necessary as auxiliary materials for the development of productive activity are used in plants.

Efficiency in processes, quality, product and tool design are fundamental in order to optimise and reduce raw material consumption. Therefore, Gestamp monitors all of this every quarter by means of different management systems of the Group controlled by the plants, divisions and corporate from different perspectives, in addition to the environmental perspective, such as the areas of finance, purchasing, quality and the technical office, with the ultimate goal of achieving operational excellence.

| Consumo de Materias Primas y Materiales Aprovisionados (% Tn) | 2021      | 2022      | 2023      |
|---------------------------------------------------------------|-----------|-----------|-----------|
| Steel                                                         | 97%       | 96%       | 96%       |
| Aluminium                                                     | 2%        | 3%        | 3%        |
| Other procured materials:                                     | 1%        | 1%        | 1%        |
| Paint                                                         | 0.05%     | 0.05%     | 0.1%      |
| Oil                                                           | 0.05%     | 0.06%     | 0.09%     |
| Binder agent                                                  | 0.09%     | 0.03%     | 0.06%     |
| Welding wire                                                  | 0.26%     | 0.19%     | 0.34%     |
| Electrodes                                                    | 0.01%     | 0.01%     | 0.01%     |
| Chemical products                                             | 0.09%     | 0.06%     | 0.14%     |
| Welding gases                                                 | 0.44%     | 0.60%     | 0.001%    |
| Steel consumption per region (Tn)                             | 2021      | 2022      | 2023      |
| Europe                                                        | 1,485,081 | 1,540,072 | 1,667,939 |
| North America                                                 | 1,112,524 | 541,567   | 541,748   |
| South America                                                 | 250,737   | 282,541   | 321,024   |

Asia 188,349 274,452 293,752 **Total 3,036,691 2,638,632 2,824,468**

Image /page/89/Picture/18 description: The image shows a row of large, silver metal coils. The coils are arranged in a line, with a yellow stripe running along the floor next to them. The coils are all the same size and shape, and they appear to be made of a shiny metal. The background is a blur of blue and gray, suggesting that the coils are in a factory or warehouse.

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Image /page/90/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, dark blue sans-serif font. To the right of the word is a dark blue square containing a white graphic that resembles a stylized "G" or a curved line with a circle at the end.

#### ANNUAL REPORT 2023

Image /page/90/Picture/3 description: The image shows a graphic with three horizontal lines stacked on top of each other. Below the lines, the word "INDEX" is written in a sans-serif font.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

## WASTE MANAGEMENT

During 2023, a total of 56,490 tons of waste have been generated without taking scrap into account. Of this total, 28,095 tons would correspond to non-hazardous waste and 28,395 tons to hazardous waste.

Of the total of non-hazardous waste, 95% corresponded to scrap metal. Scrap metal is a waste product that is 100% recyclable. Its reintroduction into the steel production process contributes to closing its life-cycle in accordance with the circular economy model.

#### **Hazardous waste**

In the hazardous waste category, the most frequently generated type is contaminated water, sludge, used oils and contaminated materials (cloths and gloves stained mainly with oil).

| Types of waste generated (Tn) | 2021      | 2022      | 2023      |
|-------------------------------|-----------|-----------|-----------|
| Hazardous Waste               | 23,289    | 24,034    | 28,395    |
| Non-Hazardous Waste           | 23,222    | 26,982    | 28,095    |
| Scrap                         | 998,309   | 959,696   | 1,051,236 |
| Total                         | 1,044,820 | 1,010,712 | 1,107,726 |

#### **Non-Hazardous Waste**

The most frequently generated non-hazardous waste categories are wood, solid urban waste and paper/cardboard:

|                                      | 2021  | 2022  |       | 2023    |                                       |                                   |
|--------------------------------------|-------|-------|-------|---------|---------------------------------------|-----------------------------------|
| Type of waste (%)                    | %     | %     | %     | Tonnes  | Waste not<br>intended for<br>disposal | Waste<br>intended for<br>disposal |
| Wood                                 | 33%   | 31%   | 33%   | 9,161   | 8,724                                 | 437                               |
| Solid urban waste                    | 25%   | 25%   | 27%   | 7,460   | 2,230                                 | 5,230                             |
| Paper/cardboard                      | 13%   | 11%   | 13%   | 3,657   | 3,450                                 | 207                               |
| Non-hazardous sludge                 | 4%    | 4%    | 8%    | 2,346   | 1,833                                 | 513                               |
| Other non-hazardous metals           | 12%   | 12%   | 6%    | 1,767   | 1,759                                 | 8                                 |
| Other non-hazardous waste            | 8%    | 2%    | 4%    | 1,204   | 192                                   | 1,012                             |
| Plastic containers                   | 3%    | 3%    | 4%    | 1,157   | 1,104                                 | 53                                |
| Non-hazardous oil                    | 2%    | 2%    | 2%    | 638     | 630                                   | 8                                 |
| Process furnace waste                |       | 1%    | 0.3%  | 72      | 27                                    | 45                                |
| Inert waste                          |       | 9%    | 2%    | 634     | 469                                   | 165                               |
|                                      | 2021  | 2022  | 2023  |         |                                       |                                   |
| Type of hazardous waste              | %     | %     | %     | Tonnes* | Waste not<br>intended for<br>disposal | Waste<br>intended for<br>disposal |
| Polluted water                       | 69%   | 74%   | 74%   | 20,881  | 17,482                                | 3,399                             |
| Used oil                             | 8%    | 4%    | 4%    | 1,134   | 1,077                                 | 57                                |
| Sludge                               | 8%    | 8%    | 8%    | 2,367   | 444                                   | 1,923                             |
| Other waste                          | 6%    | 1%    | 1%    | 299     | 10                                    | 289                               |
| Contaminated material                | 3%    | 3%    | 4%    | 1,177   | 584                                   | 593                               |
| Used oil filters                     | 0%    | 0%    | 0%    | 77      | 2                                     | 75                                |
| Blasting dust                        | 2%    | 2%    | 1%    | 368     | 224                                   | 144                               |
| Cutting oil                          | 1%    | 3%    | 2%    | 698     | 587                                   | 111                               |
| Welding powder                       | 1%    | 1%    | 1%    | 152     | 36                                    | 116                               |
| Contaminated packaging               | 1%    | 1%    | 1%    | 375     | 141                                   | 234                               |
| Chemical products                    | 1%    | 1%    | 1%    | 331     | 25                                    | 306                               |
| Others                               | 1%    | 1%    | 3%    | 834     | -                                     | -                                 |
| Electronic and electrical<br>devices | 0.2%  | 0.2%  | 0.3%  | 98      | 80                                    | 18                                |
| Mastics                              | 0.4%  | 0.4%  | 0.4%  | 103     | 10                                    | 93                                |
| Welding filters                      | 0.1%  | 0.1%  | 0.1%  | 38      | 4                                     | 34                                |
| Toner                                | 0.07% | 0.01% | 0.01% | 2       | 1                                     | 1                                 |
| Solvents                             | 0.1%  | 0.2%  | 0.8%  | 237     | 225                                   | 12                                |
| Medical waste                        | 0.02% | 0.05% | 0.01% | 3       | 0                                     | 3                                 |
| Fluorescents                         | 0.02% | 0.01% | 0.02% | 5       | 4                                     | 1                                 |
| Batteries                            | 0.1%  | 0.01% | 0.1%  | 28      | 27                                    | 1                                 |
| Aerosol sprays                       | 0.02% | 0.02% | 0.04% | 11      | 6                                     | 5                                 |

\*Due to rounding of decimals, the sum of tonnes generated by category and the total sum of tonnes may not be exact. There are additional breakdowns for the category Others that have not been included because they are not relevant in magnitude, so the total amount of tonnes broken down shown in the table is lower than that reported in the consolidated figures.

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Image /page/91/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in blue. To the right of the word is a blue square containing a white graphic that resembles a stylized letter "G" or a curved line with a circle at the end.

#### ANNUAL REPORT 2023

Image /page/91/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked on top of each other.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

Gestamp works to reduce this waste at the plant; in particular for wastewater, of note is the following practice that was carried out in 2023:

#### **Sustainable water management: Reduction of the polluntant load of cleaning water**

The Gestamp Tool Hardening plant has managed to reduce the pollutant load of cleaning water of the plant for its subsequent incorporation in the water cycle.

Since soil cleaning water is the main waste generated by the plant and considering the difficulty in managing the pollutant load, GTH carried out, with the help of the competent authority, a project to reduce the pollutant load of soil cleaning water and allow management through the existing separator, which already treated other process water.

#### **Relevant milestones:**

- **•** Correct settling and filtering of solid particles, avoiding their entry in the separator.
- **•** Structural adaptation of the separator to ensure its correct maintenance.
- **•** Search for the pumping system that does not generate emulsion.
- **•** Testing of cleaning products that respects the phases of the pollutants.
- **•** Ensure that products used in production do not interfere.

#### **Benefits of implementation:**

- **•** Minimisation in the generation of waste of more than 30 tonnes/year, which will allow GTH to be classified as a small waste producer, with 100% internal management of it.
- **•** Less space needed for storage, allowing a reorganisation of the warehouse.
- **•** Reduction in authorised manager trips to our facilities by >83%.

Image /page/91/Picture/25 description: The image shows a collection of plastic bottles that have been compressed and bundled together. The bottles are mostly clear and have labels on them. They are arranged in a grid-like pattern and are held together by blue straps. The overall impression is one of recycling and waste management.

#### **Plasticss**

During 2023, Gestamp has collected 1,157 tons of plastic packaging, of which 91% is recycled and 5% is sent to energy recovery treatments, with the other alternatives, such as sending to landfill, being the last of the recycling options. final destination for this waste with only 4%.

{92}------------------------------------------------

## ANNUAL REPORT 2023

Image /page/92/Picture/3 description: The image shows a symbol consisting of three horizontal lines stacked on top of each other, with the word "INDEX" written below the lines. The lines and the word are in a blue color.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

|                              | 2021 | 2022 | 2023 |           |
|------------------------------|------|------|------|-----------|
| Final Destination of Waste * | %    | %    | %    | Tons      |
| Recycling                    | 98%  | 98%  | 98%  | 1,084,911 |
| Reuse                        | 0.2% | 0.2% | 0.3% | 3,659     |
| Landfill                     | 0.8% | 0.5% | 0.9% | 9,736     |
| Energy recovery              | 0.3% | 0.5% | 0.4% | 4,056     |
| Other                        | 0.7% | 0.8% | 0.4% | 5,365     |

\*Includes scrap. Plants within the scope of the "0 waste" and "towards 0 waste" certification (77% of plants included in the scope for environmental indicators).

If scrap is included in these percentages, 98% of the total waste has its final destination as recycling, reuse or energy recovery.

Image /page/92/Figure/14 description: The image shows a circular diagram of waste recovery. The diagram includes the following steps: Recycling and recovery of materials, Energy recovery, and Reuse. The steps are connected by arrows, indicating the flow of materials through the waste recovery process. In the center of the diagram is the text "Waste Recovery".

**Final destination of waste**

| Recycling and recovery of materials |      |
|-------------------------------------|------|
| Scrap                               | 100% |
| Inert residues                      | 98%  |
| Hazardous used oil                  | 93%  |
| Paper and carton                    | 90%  |
| Energy Recovery                     |      |
| Chemicals                           | 69%  |
| Polluted material                   | 63%  |
| Solvents/thinners                   | 60%  |
| Adhesives/mastics                   | 26%  |
| Reuse                               |      |
| Other non hazardous metals          | 30%  |

Image /page/92/Picture/16 description: The image shows a stack of large metal coils. The coils are arranged in a way that they are partially overlapping each other. Each coil has a hollow center, and they are held together by metal straps. The metal has a shiny, silver-gray color.

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Image /page/93/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, dark blue font. To the right of the word is a blue square with a white design that looks like a stylized circuit or connection.

2023

#### [4.2 Cicularity](#page-75-0) **[4.3 Environmental Management](#page-84-0)** [4. ENVIRONMENTAL DIMENSION](#page-59-0) [4.1 Road to Neutrality](#page-60-0)

#### **Waste-related indexes**

Image /page/93/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked vertically, with a small space between each line.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

# Waste-related indexes

Group-wide, the company work with two indexes that show the trends in waste generation and management. During 2023, the business volume prior to the COVID and chip crisis has recovered. New projects have been started in several plants and this means a greater generation of waste during the first stages of the projects as a consequence of the modifications in the plant lines, which then stabilizes when entering production. Even so, thanks to the Circular Economy model implemented in the Group, it has been possible to maintain the Waste Production Index at a level similar to that achieved the previous year.

Regarding the Waste Management Index, the increase observed is due to the general increase in costs. Due to generalized inflation, during 2023 spending on waste management has increased more than added value.

| Waste Production Index Evolution                                               | 2021 | 2022 | 2023 |
|--------------------------------------------------------------------------------|------|------|------|
| Waste Production Index (tonne of waste/€1,000 million euros of<br>added value) | 17   | 15   | 16   |

 \* Having increased the added value (11%) compared to last year, and maintaining the trend in the generation of total waste, the reduction in the index becomes more notable.

| Waste Management Index Evolution                                                                         | 2021 | 2022 | 2023 |
|----------------------------------------------------------------------------------------------------------|------|------|------|
| Waste Management Index (cost of waste management in thousands of euros/€10 million euros of added value) | 19   | 19   | 21   |

#### **Zero waste certification**

In 2023, Gestamp continued to maintain the AENOR Zero Waste certification which it obtained in 2021, highlighting its Circular Economy model, capable of reintroducing the waste it generates back into the value chain.

The Zero Waste Regulation takes into account two types of certifications:

**•** Zero Waste. Recovery of more than 90% of waste (excluding scrap metal)

**•** Towards Zero Waste. Recovery of more than 60% of waste (not taking scrap metal into account)

The verification, which has been carried out online and in person at all the plants within the certification perimeter in India and Brazil, has proven that the waste management systems of 63% of the Group's plants meet the requirements for the existence of complete traceability of waste. This monitoring includes, from its generation to its delivery to a manager for its recovery, ensuring the non-existence of waste with final destination to landfills and verification of the legal requirements associated with the waste management process.

Out of the percentage of verified plants, 15% obtained the Zero Waste certification (more than 90% of waste) and the remaining 48% meet the requirements for Towards Zero Waste (more than 60%).

The follow-up audits also highlighted the high level of collaboration and involvement of all participating staff in the process of implementing the scheme, the tidiness and cleanliness of the waste storage areas in all the plants audited, and the integration of some specific requirements of the Zero Waste Management System into the ISO 14001 Environmental Management Systems.

Image /page/93/Figure/25 description: The image shows a comparison of zero waste initiatives. The first section, labeled "ZERO WASTE," indicates that 16 plants are involved. Of the waste produced, 98% is scrap, with 100% recycling and material recovery. The remaining 2% is other waste, with >90% recycling and material recovery. The second section, labeled "MOVING TOWARDS ZERO WASTE," indicates that 51 plants are involved. Of the waste produced, 98% is scrap, with 100% recycling and material recovery. The remaining 2% is other waste, with >60% recycling and material recovery.

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Image /page/94/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in a dark blue color. To the right of the word is a square containing a stylized graphic. The graphic consists of two curved lines that form a partial loop, with a small circle at the end of the loop. The graphic is white, and the square is dark blue.

#### ANNUAL REPORT 2023

Image /page/94/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked on top of each other.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

## PROTECTED AREAS AND BIODIVERSITY

All of Gestamp's production plants are located in urban and industrial areas.

In 2023 we have updated the situation of the production centers in relation to nearby protected areas with respect to the catalogs of protected areas collected in the Natura 2000 Network, IUCN, Emerald Network and USA Wetlands. The study has concluded that, although 67% of the plants are located in an area close (<5km) or adjacent to a protected natural environment, given the characteristics of Gestamp's production processes, the direct impact on ecosystems is very low.

Image /page/94/Figure/14 description: This image shows a world map with several countries colored in dark blue. The text on the image indicates that these countries have plants located in an area close to or adjacent to a protected natural environment. There are also three labels on the map: "Gestamp Llanelli" in Europe, "Gestamp Betim" in South America, and "Gestamp Palau" in Africa. These labels are connected to gray dots, which the legend indicates are plants with a risk of affecting the natural environment.

According to the internal risk assessment, the highest potential risk is considered to occur in plants with industrial surface treatment processes that discharge their water into public channels. Only 8 plants of the Group meet these conditions and, through internal audits, the necessary controls are carried out to guarantee that they have implemented an environmental accident/incident prevention plan that minimizes the occurrence of a possible event.

In parallel, as part of Gestamp's commitment to biodiversity protection, the company is voluntarily participating in two external initiatives:

#### [EUROPEAN COMMISSION EU BUSINESS @ BIODIVERSITY PLATFORM](https://green-business.ec.europa.eu/business-and-biodiversity_en)

For many years, Gestamp has worked with pioneering companies to develop tools that help integrate biodiversity into different business models which are currently in place. The work focuses on three main areas:

- **•** Natural capital: helping integrate biodiversity into decisions of the company.
- **•** Innovation for Biodiversity and Business: developing tools for assessment and sharing and identifying opportunities and best practices.
- **•** Financial Institutions: forum for dialogue between financial institutions to integrate biodiversity and natural capital into trends in financial activities.

#### PARTICIPATION IN NATURE BUSINESS AMBITION

In 2023, Forética launched the business leadership initiative Nature Business Ambition in which Gestamp participates, in order to boost ambition, promote action and build alliances to help towards the recovery of nature and biodiversity as key factors in achieving a "Nature positive" planet by 2030:

Image /page/94/Picture/24 description: The image contains two logos side by side. The first logo is the word "forética" in blue, with a stylized "é". The second logo is a green speech bubble containing a white leaf. To the right of the speech bubble are the words "Nature Business Ambition" in gray.

## Ambition Action Alliances

Boost ambition and enhancement of the commitment of participating companies

Promote action by identifying business cases, trends and major tools to move towards a "Nature positive" world

Build alliances with the main national and international stakeholders to become a player of reference

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Image /page/95/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in dark blue. To the right of the word is a square containing a stylized image of a curved line with a circle at the end, also in white against a dark blue background.

Image /page/95/Picture/2 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked vertically, with a small space between each line.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

## TAXONOMY OF THE EUROPEAN UNION

#### **Context**

[4. ENVIRONMENTAL DIMENSION](#page-59-0)

In order to comply with the climate and energy objectives proposed by the European Union for 2030, and in turn, achieve the Neutrality objective of the European Green Deal by 2050, it is essential that investments are directed towards sustainable projects and activities. In this way, the economy, companies and society in general will become more resilient to current and future climate and environmental consequences. This is why a common language and a clear definition of what is sustainable is needed.

[4.1 Road to Neutrality](#page-60-0)

In this sense, and to face this challenge, the European commission published a classification system called the EU Taxonomy (Regulation (EU) 2020/852), which aims to decarbonize the economy by defining what it considers as environmentally sustainable economic activities. As of today, said Regulation establishes the classification criteria for the activities defined for two of the six proposed environmental objectives, Mitigation and Adaptation to Climate Change:

CLIMATE CHANGE MITIGATION

6 CLEAN WATER
AND SANITATION

14 LIFE
BELOW WATER

PROTECTION AND SUSTAINABLE USE OF WATER AND MARINE RESOURCES

Image /page/95/Picture/17 description: The image shows three icons representing sustainable development goals. The first icon, in green, represents "Good Health and Well-Being" (SDG 3) and features a heartbeat symbol. The second icon, in orange, represents "Sustainable Cities and Communities" (SDG 11) and depicts a cityscape with buildings and houses. The third icon, in brown, represents "Responsible Consumption and Production" (SDG 12) and shows an infinity symbol with an arrow. Below the icons, the text "PREVENTION AND CONTROL OF POLLUTION" is written.

PREVENTION AND CONTROL OF POLLUTION

ADAPTATION TO CLIMATE CHANGE

[4.2 Cicularity](#page-75-0) **[4.3 Environmental Management](#page-84-0)**

Image /page/95/Picture/20 description: The image shows the Sustainable Development Goal 12 icon, which represents "Responsible Consumption and Production." The number "12" is displayed in a large, bold, gold font on the left side of the image. To the right of the number, the words "RESPONSIBLE CONSUMPTION AND PRODUCTION" are stacked in smaller, uppercase letters. Below the text, there is a symbol resembling an infinity sign or a Mobius strip, also in gold.

TRANSITION TO A CIRCULAR ECONOMY

Image /page/95/Picture/22 description: The image shows two Sustainable Development Goals (SDGs). On the left is SDG 14, "Life Below Water," represented by a blue icon of a fish swimming under waves. On the right is SDG 15, "Life on Land," represented by a green icon of a tree with birds flying around it, above two horizontal lines.

PROTECTION AND RESTORATION OF BIODIVERSITY AND ECOSYSTEMS

Image /page/95/Picture/24 description: The image is a circular design composed of 17 trapezoidal segments, each filled with a different color. The colors, starting from the top and proceeding clockwise, are red, gold, green, black, dark red, orange, light blue, yellow, dark red, orange, pink, orange, gold, dark green, light blue, green, and dark blue. The segments are arranged around a central white circle, creating a ring-like pattern.

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Image /page/96/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, dark blue font. To the right of the word is a square containing a stylized design of two curved lines in a lighter blue color.

[INDEX](#page-1-0)

[1. Letter from the Chairman](#page-2-0)

2023

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

#### **Regulatory evolution**

Three delegated acts have been published supplementing Regulation (EU) 2020/852:

- **•** On June 4th, 2021, the Climate Change Mitigation and Adaptation objectives were published in Delegated Regulation 2021/2139. This delegated act on climate taxonomy establishes the technical screening criteria for determining whether an economic activity qualifies as contributing substantially to climate change mitigation or adaptation and for determining whether this causes no significant harm to any of the other environmental objectives.
- **•** On July 6th, 2021, Delegated Regulation 2021/2178 was published, which in article 8 in particular specifies the content and presentation of information to be disclosed by companies subject to the NFRD (Non-Financial Reporting Directive).
- **•** Lastly, on March 9th, 2022, Delegated Regulation (EU) 2022/1214 was published which amends the previous Delegated Regulations and includes, subject to strict conditions, relevant nuclear and gas related activities in the list of economic activities covered by EU taxonomy8.
- **•** On June 27th, 2023, it was published:
- **-** Delegated Regulation (EU) 2023/2486, which supplements Regulation (EU) 2020/852 of the European Parliament and of the Council by establishing the technical selection criteria to determine under what conditions an economic activity will be considered contributes substantially to the rest of the objectives of the taxonomy and to determine whether said economic activity does not cause significant harm to any of the other environmental objectives, and which modifies Delegated Regulation (EU) 2021/2178.
	- **-** Delegated Regulation (EU) 2023/2485, which modifies Delegated Regulation (EU) 2021/2139 establishing additional technical selection criteria to determine the conditions under which an economic activity is considered to contribute substantially to mitigation or adaptation to climate change, and to determine whether that economic activity does not cause significant harm to any of the other environmental objectives.

According to article 8 of the Regulation, in 2023 companies must report:

- **•** Eligibility and alignment in accordance with Delegated Regulation 2021/2139 the objectives of Mitigation and Adaptation of Climate Change.
- **•** Eligibility of new activities included in the Environmental Delegated Regulation and the amendment to the Climate Delegated Regulation.

The regulations establish a series of economic activities (eligible activities). For an activity to be considered aligned, it must contribute substantially to one of the environmental objectives (mitigation or adaptation to climate change), not cause significant harm to any of the remaining environmental objectives and comply with minimum social safeguards.

Likewise, the most relevant information must be included in relation to compliance with the regulations, the accounting policy and qualitative information that allows contextualizing the results obtained and facilitating the understanding of the KPIs.

In 2023 it has not been identified activities associated with other objectives beyond Climate Change Mitigation. However, in 2024 a review of the activities will be carried out as a result of the integration of Gescrap in the development of Non-Financial Information.

#### SCOPE OF THE REPORT

The scope of the analysis has included all the Gestamp Group's operating plants included in the scope of this non-financial information report (see chapter *[About this Report](#page-208-0)*).

8Gestamp does not carry out activities related to nuclear energy and fossil gas contemplated in the Complementary Climate Delegated Regulation. For this reason, no related information is presented considering the templates of Annex XII of the Delegated Disclosure Regulation.

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Image /page/97/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, dark blue font. To the right of the word is a square containing a stylized image of a hook or curved line, also in blue and white.

### ANNUAL REPORT 2023

Image /page/97/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked on top of each other.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### **Gestamp Compliance Assessment**

Gestamp, in an exercise of transparency and in compliance with the new regulatory requirements under the scope of application of the NFRD, carried out during 2021 the evaluation of the eligibility of its activity based on the criteria defined in the "European green taxonomy". In this initial exercise, Gestamp was positioned as eligible as defined in activity 3.3. of Manufacture of low-carbon technologies for transport, since it is an essential part of the manufacturing of the vehicles indicated in the technical selection criteria for said activity. However, automotive components were not explicitly mentioned in that description.

Due to the uncertainty regarding the application of the regulations and after having carried out the exercise internally, the European Commission published a Q&A on February 2, 2022 specifying that the activity of companies supplying automotive components was not eligible according to activity 3.3. Manufacturing of low-carbon technology vehicles for transportation described in the Taxonomy. For this reason, Gestamp finally concluded that it did not have activities associated with those considered eligible from the point of view of the Regulation.

During 2022 Gestamp again carried out the eligibility exercise for its activities taking into account the following factors:

- **•** The latest EU FAQ from December 2022 which, in a generic way, indicates that for the activities of 3.1-3.6, the components can be counted if they fit the selection criteria.
- **•** Component manufacturers are one of the main actors in the transition towards sustainable mobility, accounting for 70% of the value of the vehicle, 90% of the production cost and 58% of investments in sustainable mobility come from automotive component suppliers, according to CLEPA data.
- **•** The public position regarding the Taxonomy of other companies in the sector and sector associations such as CLEPA (European Automotive Suppliers Association) with its # FairTaxonomy movement).
- **•** The recognition that the eligibility of Gestamp's activities would mean for investors.

Finally, during 2023, the European Commission published in the Official Journal of the European Union Commission Delegated Regulation (EU) 2023/2485 of June 27, 2023, which modifies Delegated Regulation (EU) 2021/2139 establishing additional technical selection criteria to determine the conditions under which an economic activity is considered to contribute substantially to climate change mitigation or adaptation, and to determine whether that economic activity does not cause harm significant to any of the other environmental objectives. Gestamp has carried out an analysis of the activities that this modification includes.

In this sense, within the study carried out, two additional activities have been considered to those finally reported as eligible according to the technical selection criteria:

| Activities studied and their adaptation to the technical selection criteria<br>of the Taxonomy                                                                                                                                                                                                                                                                                                                                                                                                             | Eligibility Analysis                                                                                                                                                                                                                                                                                     |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 3.3. Manufacturing of low-carbon technologies for transport:<br>According to the latest EU FAQ of December 2022, in a generic way,<br>for the activities of 3.1-3.6, the components can be counted if they<br>fit the selection criteria. Likewise, key components are not explicitly<br>mentioned.                                                                                                                                                                                                        | It is interpreted as not eligible<br>according to the selection criteria<br>established in the regulations.                                                                                                                                                                                              |
| 3.6. Manufacturing of other low-carbon technologies:<br>The description would include the manufacturing of other technologies<br>not included in previous activities (3.1-3.5), which constitute a significant<br>decrease in the GHG emissions of the product during its life cycle<br>compared to the best performing alternative. available on the market.<br>At Gestamp, life cycle analyzes are carried out to corroborate product<br>emissions, and new materials are also tested that would imply a | Not eligible due to complexity of<br>data collection. Although Gestamp<br>is carrying out life cycle analysis<br>studies to prove the substantial<br>reduction in emissions in the parts<br>it manufactures, at the moment it<br>is not feasible to obtain the figures<br>associated with this activity. |

significant reduction in the footprint compared to the best solution on

the market.

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2023

#### [4.2 Cicularity](#page-75-0) **[4.3 Environmental Management](#page-84-0)** [4. ENVIRONMENTAL DIMENSION](#page-59-0) [4.1 Road to Neutrality](#page-60-0)

#### ELIGIBLE ACTIVITIES

[INDEX](#page-1-0)

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

Finally, after the eligibility analysis carried out, it has been determined that the activities that fit the description provided by the Taxonomy of the activities carried out at Gestamp are **3.4 Manufacture of batteries, cells and accumulators and 3.18 Manufacture of automotive and mobility components**.

#### **3.4 Manufacture of batteries, cells and accumulators**

This activity includes in its description the manufacture of rechargeable cells, batteries and accumulators for transport, stationary and off-grid energy storage and other industrial applications. Likewise, it includes the manufacturing of the components corresponding to them (active materials for cells, batteries and accumulators, battery cells, housings and electronic components). In this sense, Gestamp fits this last description thanks to the activity of manufacturing battery boxes or battery casings, which is carried out in the Group due to the company's commitment to electrification.

#### **3.18 Manufacturing of automotive and mobility components**

Described by the regulation as the manufacture, repair, maintenance, renewal, reconversion and modernization of mobility components for zero-emission personal mobility devices and approved automotive and mobility components, systems, independent technical units, parts and spare parts, designed and manufactured for use exclusively in vehicles and buses that meet the criteria established in this section and that are essential to ensure and improve the environmental performance of the vehicle. Taking this description into consideration, Gestamp includes in this activity the Door number Rings manufactured by hot stamping, which reduces the weight of the part and the final vehicle (improving the efficiency of the vehicle in terms of energy consumption) and are intended for electric vehicles.

Image /page/98/Picture/17 description: The image shows a close-up of a complex mechanical assembly, possibly part of a machine or vehicle. The components are made of shiny, chrome-plated metal, reflecting light and creating a sense of depth. The assembly includes various levers, rods, springs, and fasteners, all intricately connected. The background is blurred, with hints of blue and white light, suggesting a modern or technological setting. The overall impression is one of precision engineering and mechanical complexity.

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Image /page/99/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in a dark blue color. To the right of the word is a square containing a stylized graphic of a hook or curved line in white, set against a dark blue background.

Image /page/99/Picture/3 description: The image shows three horizontal lines above the word "INDEX". The lines are of equal length and are stacked on top of each other. The word "INDEX" is written in a sans-serif font and is located directly below the lines.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### **Evaluation of compliance with the technical selection criteria**

For this year, a new study of the Group's activities has been carried out under the definition of the Taxonomy and the financial figures of INCN, CAPEX and OPEX for said activities have been calculated.

To this end, the technical selection criteria provided by Delegated Regulation 2021/2139 of July 4, 2021 have been considered, which complements Regulation (EU) 2020/852, for the environmental objectives of mitigation and adaptation and Delegated Regulation 2023/2485 of June 27, 2023.

#### TECHNICAL SELECTION CRITERIA: SUBSTANTIAL CONTRIBUTION TO CLIMATE CHANGE MITIGATION

| Mitigation<br>taxonomic<br>activity                                   | Eligibility Analysis                                                                                                             | Analysis of the adequacy of Gestamp's activities to the technical criteria of substantial contribution                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|-----------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 3.4.<br>Manufacture<br>of batteries,<br>cells and<br>accumulators     | [Image: checkmark]<br>Eligible according to<br>the definition of the<br>activity contemplated<br>in the Climate Royal<br>Decree. | In 2022, electric vehicles enabled a net reduction of around 80 Mt of GHG emissions. As the electric vehicle fleet continues to grow, emissions reductions will become even more<br>significant, playing a key role in achieving the goals set out in the Paris Agreement. Therefore, fundamental parts for the correct functioning of this type of vehicle, such as batteries and,<br>therefore, battery boxes, are essential.<br><br>Following this rationale and based on the comparison of the analysis of CO₂eq/Km and total CO₂eq emissions throughout the life cycle of a conventional vehicle versus an electric<br>vehicle, we consider that battery boxes are essential for the substantial reduction of emissions. in transportation as the main component of electric vehicles.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| 3.18.<br>Manufacturing<br>of automotive<br>and mobility<br>components | [Image: checkmark]<br>Eligible according to<br>the definition of the<br>activity contemplated<br>in the Climate Royal<br>Decree. | The technical description of this activity includes the manufacture, repair, maintenance, renewal, reconversion and modernization of components that are essential to ensure and<br>improve the environmental performance of vehicles with zero direct CO₂ emissions described in the Royal Decree. In this sense, Gestamp includes the manufacture of Door Rings<br>through hot stamping, a production process that reduces the final weight of the vehicle.<br><br>The Door Ring is an essential part of the vehicle since it constitutes a fundamental part of the bodywork. Reducing the weight of this part through hot stamping makes the final vehicle<br>lighter compared to parts that do not follow this production system. This is because thanks to this technology, the number of parts used is reduced and its thickness is reduced, allowing<br>safer and lighter metal components to be manufactured, which means lightening the total weight of the vehicle, reducing energy consumption and, therefore, reducing CO₂ emissions<br>(improving the environmental performance of the vehicle). As shown in the analysis carried out on the life cycle of the Door Ring, the emissions associated with the raw material<br>purchasing, manufacturing and vehicle use stages are reduced thanks to this technology.<br><br>Therefore, we consider that the lightening of parts is essential for the vehicle to improve its environmental performance as we show throughout the 2023 Annual Report. |

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Image /page/100/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in dark blue. To the right of the word is a square containing a stylized graphic in white, set against a dark blue background. The graphic appears to be a curved line with a small circle at one end, possibly representing a connection or technology symbol.

Image /page/100/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked vertically, with a small space between each line.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### CRITERIA FOR NOT CAUSING SIGNIFICANT HARM - DNSH

For activity **3.18. Manufacturing of automotive and mobility components**, a detailed analysis of the DNSH requirements of each objective has been carried out:

#### **Adaptation to climate change**

An analysis of the Risks and Opportunities of Climate Change has been carried out in accordance with the criteria defined in Appendix A of the Regulation and taking as a starting point those risks listed in point II of the same appendix in which the plant that develops the aligned activity. For more information see chapter Path to neutrality.

#### **Sustainable use and protection of water and marine resources**

An environmental impact assessment has been carried out on the plant that carries out the activity in which the risks of environmental degradation related to the preservation of water quality and the prevention of water stress are determined and addressed.

#### **Transition to a circular economy**

According to Gestamp's circularity strategy, Certified by AENOR, we ensure:

- **•** The reuse and exploitation of secondary raw materials and reused components of manufactured products (see Circularity chapter)
- **•** The design for high durability, recyclability, easy disassembly and adaptability of the manufactured products (see Operational Excellence chapter);
- **•** Waste management that prioritizes recycling over elimination, in the manufacturing process (see Circularity chapter);

#### **Pollution prevention and control**

An analysis of the specific activity determined as eligible has allowed us to determine that polluting substances listed in Appendix C of the Regulation are not used.

#### **Protection and restoration of biodiversity and ecosystems**

The activity does not affect biodiversity or ecosystems and is not located in biodiversity-sensitive areas or nearby (see Environmental Management chapter).

#### COMPLIANCE WITH MINIMUM SOCIAL SAFEGUARDS

Gestamp is aligned with the OECD Guidelines for Multinational Enterprises and the United Nations Guiding Principles on business and human rights, including the principles and rights established in the eight fundamental conventions referred to in the Declaration of the International Labor Organization regarding fundamental principles and rights at work and the International Bill of Human Rights.

In this regard, the company has a series of internal policies and procedures that ensure that there are no negative social impacts on stakeholders, such as the Human Rights Policy, the Human Rights Due Diligence Procedure, the Health and Safety Policy, the Anti-Corruption and Fraud Policy or the ESG Requirements for suppliers among others. Information in this regard is provided throughout this report:

| Main Aspects                | Chapter                                                                                        |
|-----------------------------|------------------------------------------------------------------------------------------------|
| Human Rights                | Human Rights<br>Code of Conduct                                                                |
| Anti-corruption and Bribery | Corruption, Fraud and Bribery Prevention<br>Code of Conduct<br>Talent development and training |
| Taxes                       | Fiscal Strategy                                                                                |
| Fair competition            | Ethics and Regulatory Compliance                                                               |

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# [INDEX](#page-1-0)

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

Image /page/101/Picture/11 description: The image shows a collection of car chassis parts displayed on a multi-tiered white platform. The parts are arranged in a way that suggests an exhibition or a showroom. The chassis parts are made of metal and have a gray color. The background is a plain white wall, which helps to highlight the parts. The lighting is soft and even, which creates a clean and professional look.

#### **Results and methodology**

#### RESULTS OF THE ELIGIBILITY EXERCISE

The results of the indicators have been the following for the eligibility exercise:

| Eligible<br>Activities                                           | Sales 2022 | Sales 2023 | Capex 2022 | Capex 2023 | Opex 2022 | Opex 2023 |
|------------------------------------------------------------------|------------|------------|------------|------------|-----------|-----------|
| 3.4. Manufacture of<br>batteries, cells and<br>accumulators      | 2.32%      | 3.43%      | 11.79%     | 14.06%     | -         | -         |
| 3.18. Manufacturing<br>of automotive and<br>mobility components* | -          | 0.76%      | -          | 4.70%      | -         | -         |
| Total                                                            | 2.32%      | 4.19%      | 11.79%     | 18.76%     | -         | -         |

#### RESULTS OF THE ALIGNMENT EXERCISE

The results of the indicators have been the following for the alignment exercise:

| Aligned<br>Activities                                            | Sales 2022 | Sales 2023 | Capex 2022 | Capex 2023 | Opex 2022 | Opex 2023 |
|------------------------------------------------------------------|------------|------------|------------|------------|-----------|-----------|
| 3.18. Manufacturing<br>of automotive and<br>mobility components* | -          | 0.4%       | -          | 2.1%       | -         | -         |
| Total                                                            | -          | 0.4%       | -          | 2.1%       | -         | -         |

\* For activity 3.18. Manufacturing of automotive and mobility components, no information is provided in 2022 as it is a new activity as indicated in the Gestamp compliance evaluation section.

\* For activity 3.18. Manufacturing of automotive and mobility components, no information is provided in 2022 as it is a new activity as indicated in the Gestamp compliance evaluation section.

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Image /page/102/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, dark blue font. To the right of the word is a square containing a stylized design of two curved lines in a lighter blue color.

#### ANNUAL REPORT 2023

Image /page/102/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked vertically, suggesting a menu or list icon.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

#### [4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### KPI CALCULATION METHODOLOGY

Gestamp has avoided double counting of activities during the analysis process by considering only one eligible activity, since the production of the same part could have fit into several activities.

Regarding the calculation process, the accounting data was taken from corporate financial systems, and the report thereof was additionally confirmed with plant teams. These calculations do not include intercompany transactions, so double accounting has not occurred in this sense either.

**Capex**

#### **Sales**

Represents the proportion of net business volume derived from products or services contemplated by the Taxonomy. The turnover KPI offers a static view of the company's contribution to environmental objectives. Calculation of %:

- **•** Numerator: net amount of turnover that is associated with the economic activities carried out by the company that are taxonomically eligible.
- **•** Denominator: Considers the total volume of the net amount of the company's turnover as stated in note 3.23 of the Consolidated Annual Accounts.

Represents investments in fixed assets of an activity that is contemplated in the Taxonomy. Capex offers a dynamic and prospective view of companies' plans to transform their business activities. Calculation of %:

- **•** Numerator: association of the CaPex intended for the selected taxonomic activity
- **•** Denominator: includes the additions of tangible and intangible assets during the year before depreciation, amortization and possible new valuations, including those resulting from revaluations and impairments, corresponding to the year of the company, excluding changes in fair value. Additions to tangible and intangible assets resulting from business combinations will also be included.

Image /page/102/Picture/21 description: The image shows a person holding a pen and pointing at a document with a graph on it. The graph shows a line chart with multiple lines, and the person is pointing at one of the lines with the pen. The document is white, and the graph is in color. The person's hand is visible, and they are wearing a striped shirt.

#### **Opex**

Represents the proportion of operating expenses associated with activities contemplated by the Taxonomy:

- **•** Numerator: Direct costs considered by the Regulation associated with taxonomic activities
- **•** Denominator: non-capitalized direct costs that relate to research and development, building renovation measures, short-term leases, maintenance and repairs, as well as other direct expenses related to the daily maintenance of tangible fixed assets by the company or a third party to whom activities are subcontracted and that are necessary to guarantee the continued and effective operation of said assets.

In the case of the Opex calculation, because the direct costs considered by the Regulation are not relevant compared to the total operating costs of the year, they have not been included as part of the report following the recommendations of the European Commission.

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Image /page/103/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in a dark blue color. To the right of the word is a square containing a stylized graphic of a curved line with a circle at the end, also in white against a dark blue background.

[INDEX](#page-1-0)

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### CONCLUSIONS

Gestamp recognizes the importance of establishing a business that is increasingly in line with what is established by the "European green taxonomy". In this sense, although the figures are not representative today, the percentage of eligible sales has doubled compared to last year. Likewise, due to the development of regulations and the integration of Gescrap in the 2024 Annual Report, as well as Gestamp's commitment to the development of more sustainable mobility and the circular economy, exponential growth is expected in the coming years of these indicators.

Gestamp will continue working on this analysis to be able to provide eligibility and alignment figures that are more in line with the reality of your business.

Image /page/103/Figure/14 description: The image shows two donut charts. The chart on the left is titled "Alignament sales figure over total eligibility figure 2023". The chart shows that the sales figure for 2023 is €515 M, and the sales figure for 2022 is €249 M. The percentages for 2023 are 3.43% and 0.76%, and the percentage for 2022 is 2.32%. The chart on the right is titled "Alignament CAPEX figure over figure 2023". The chart shows that the CAPEX figure for 2023 is €178 M, and the CAPEX figure for 2022 is €94 M. The percentage for 2023 is 14.06%, and the percentage for 2022 is 11.79%.

Eligible sales figure

Eligible CAPEX figure

Image /page/103/Figure/16 description: The image is a donut chart comparing data from 2022 and 2023. The 2023 data shows 14.06% and 4.70% values, while the 2022 data shows 11.79%. The chart also indicates that the value for 2023 is €178 M, and the value for 2022 is €94 M.

Image /page/103/Figure/17 description: The image shows two donut charts. The chart on the left is titled "Alignament sales figure over total eligibility figure 2023". The donut chart shows that 10.1% of the sales figure is over total eligibility, and 89.9% is not. The value inside the donut chart is €51.8 M. The chart on the right is titled "Alignament CAPEX figure over total eligibility figure 2023". The donut chart shows that 11.0% of the CAPEX figure is over total eligibility, and 89.0% is not. The value inside the donut chart is €19.6 M.

3.4. Manufacture of batteries, cells and accumulators 3.18. Manufacturing of automotive and mobility components

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Image /page/104/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in a dark blue color. To the right of the word is a square containing a white graphic that resembles a stylized "G" or a curved line with a small circle at the end, also in dark blue.

ANNUAL REPORT 2023

Proportion of business volume coming from products or services associated with economic activities that comply with the taxonomy corresponding to the year 2023:

|                             |                                                                                                                                                           |          | 2023                    |                     | Substantial contribution criteria |                                 |                               |                  |           |                                | Criteria for absence of significant harm<br>("DNSH"). |                                 |                               |                  |           |                                |                    |                                                          |                                   |                                   |                             |                                                                                                                                                  |          | 2023           |                     | Substantial contribution criteria |                              |                            |                  |           |                             | Criteria for absence of significant harm ("DNSH"). |                              |                            |                  |           |                             |                    |                                                    |                                |                                |
|-----------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------|----------|-------------------------|---------------------|-----------------------------------|---------------------------------|-------------------------------|------------------|-----------|--------------------------------|-------------------------------------------------------|---------------------------------|-------------------------------|------------------|-----------|--------------------------------|--------------------|----------------------------------------------------------|-----------------------------------|-----------------------------------|-----------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------|----------|----------------|---------------------|-----------------------------------|------------------------------|----------------------------|------------------|-----------|-----------------------------|----------------------------------------------------|------------------------------|----------------------------|------------------|-----------|-----------------------------|--------------------|----------------------------------------------------|--------------------------------|--------------------------------|
| INDEX                       |                                                                                                                                                           | Codes    | Absolute Turnover<br>M€ | Proportion Turnover | Climate change<br>mitigation      | Adaptation to climate<br>change | Water and marine<br>resources | Circular Economy | Pollution | Biodiversity and<br>ecosystems | Climate change<br>mitigation                          | Adaptation to climate<br>change | Water and marine<br>resources | Circular Economy | Pollution | Biodiversity and<br>ecosystems | Minimum guarantees | Proportion of turnover that conforms<br>to the year 2022 | Category facilitating<br>activity | Category transitional<br>activity | INDEX                       |                                                                                                                                                  | Codes    | Absolute CapEx | Proportion of CapEx | Climate change mitigation         | Adaptation to climate change | Water and marine resources | Circular Economy | Pollution | Biodiversity and ecosystems | Climate change mitigation                          | Adaptation to climate change | Water and marine resources | Circular Economy | Pollution | Biodiversity and ecosystems | Minimum guarantees | Proportion of CapEx that conforms to the year 2022 | Category facilitating activity | Category transitional activity |
| 1. Letter from the Chairman |                                                                                                                                                           |          |                         |                     |                                   |                                 |                               |                  |           |                                |                                                       |                                 |                               |                  |           |                                |                    |                                                          |                                   |                                   | 1. Letter from the Chairman |                                                                                                                                                  |          |                |                     |                                   |                              |                            |                  |           |                             |                                                    |                              |                            |                  |           |                             |                    |                                                    |                                |                                |
| 2. Gestamp Group            |                                                                                                                                                           |          |                         |                     |                                   |                                 |                               |                  |           |                                |                                                       |                                 |                               |                  |           |                                |                    |                                                          |                                   |                                   | 2. Gestamp Group            |                                                                                                                                                  |          |                |                     |                                   |                              |                            |                  |           |                             |                                                    |                              |                            |                  |           |                             |                    |                                                    |                                |                                |
|                             | <b>A. ELIGIBLE ACTIVITIES ACCORDING TO THE TAXONOMY</b>                                                                                                   |          |                         |                     |                                   |                                 |                               |                  |           |                                |                                                       |                                 |                               |                  |           |                                |                    |                                                          |                                   |                                   |                             | A. ELIGIBLE ACTIVITIES ACCORDING TO THE TAXONOMY                                                                                                 |          |                |                     |                                   |                              |                            |                  |           |                             |                                                    |                              |                            |                  |           |                             |                    |                                                    |                                |                                |
| 3. ESG Perspective          | A.1. Environmentally sustainable activities (conforming the taxonomy)                                                                                     |          |                         |                     |                                   |                                 |                               |                  |           |                                |                                                       |                                 |                               |                  |           |                                |                    |                                                          |                                   |                                   | 3. ESG Perspective          | A.1. Environmentally sustainable activities (conforming the taxonomy)                                                                            |          |                |                     |                                   |                              |                            |                  |           |                             |                                                    |                              |                            |                  |           |                             |                    |                                                    |                                |                                |
|                             | Manufacturing of automotive and mobility components                                                                                                       | CCM 3.18 | 51.8                    | 0.4%                | S                                 | N/EL                            | N/EL                          | N/EL             | N/EL      | N/EL                           | S                                                     | S                               | S                             | S                | S         | S                              | S                  | 0%                                                       | F                                 |                                   |                             | Manufacturing of automotive and mobility components                                                                                              | CCM 3.18 | 19.6           | 2.1%                | S                                 | N/EL                         | N/EL                       | N/EL             | N/EL      | N/EL                        | S                                                  | S                            | S                          | S                | S         | S                           | S                  | 0%                                                 | F                              |                                |
| 4. Environmental Dimension  | Turnover of environmentally sustainable activities (conforming to<br>the taxonomy) (A.1)                                                                  |          | 51.8                    | 0.4%                | 0.4%                              | 0%                              | 0%                            | 0%               | 0%        | 0%                             | S                                                     | S                               | S                             | S                | S         | S                              | S                  | 0%*                                                      |                                   |                                   | 4. Environmental Dimension  | CapEx of environmentally sustainable activities (conforming to the taxonomy) (A.1)                                                               |          | 19.6           | 2.1%                | 2.1%                              | 0%                           | 0%                         | 0%               | 0%        | 0%                          | S                                                  | S                            | S                          | S                | S         | S                           | S                  | 0%*                                                |                                |                                |
|                             | Of which: facilitating                                                                                                                                    |          | 51.8                    | 100%                | 100%                              | 0%                              | 0%                            | 0%               | 0%        | 0%                             | S                                                     | S                               | S                             | S                | S         | S                              | S                  | 0%                                                       | F                                 |                                   |                             | Of which: facilitating                                                                                                                           |          | 19.6           | 100%                | 100%                              | 0%                           | 0%                         | 0%               | 0%        | 0%                          | S                                                  | S                            | S                          | S                | S         | S                           | S                  | 0%                                                 | F                              |                                |
|                             | Of which: transitional                                                                                                                                    |          | 0                       | 0%                  | 0%                                |                                 |                               |                  |           |                                | S                                                     | S                               | S                             | S                | S         | S                              | S                  | 0%                                                       |                                   | T                                 |                             | Of which: transitional                                                                                                                           |          | 0              | 0%                  | 0%                                |                              |                            |                  |           |                             | S                                                  | S                            | S                          | S                | S         | S                           | S                  | 0%                                                 |                                | T                              |
| 5. Social Dimension         | A.2. Activities eligible according to the taxonomy but not environmentally sustainable (activities that do not conform to the taxonomy)                   |          |                         |                     |                                   |                                 |                               |                  |           |                                |                                                       |                                 |                               |                  |           |                                |                    |                                                          |                                   |                                   | 5. Social Dimension         | A.2. Activities eligible according to the taxonomy but not environmentally sustainable (activities that do not conform to the taxonomy)          |          |                |                     |                                   |                              |                            |                  |           |                             |                                                    |                              |                            |                  |           |                             |                    |                                                    |                                |                                |
|                             | Manufacture of batteries, cells and accumulators                                                                                                          | CCM 3.4  | 421,5                   | 3,4%                | EL                                | N/EL                            | N/EL                          | N/EL             | N/EL      | N/EL                           |                                                       |                                 |                               |                  |           |                                |                    | 2.32%                                                    |                                   |                                   |                             | Manufacture of batteries, cells and accumulators                                                                                                 | CCM 3.4  | 133.5          | 14.1%               | EL                                | N/EL                         | N/EL                       | N/EL             | N/EL      | N/EL                        |                                                    |                              |                            |                  |           |                             |                    | 11.8%                                              |                                |                                |
| 6. Governance               | Manufacturing of automotive and mobility components                                                                                                       | CCM 3.18 | 41,8                    | 0,3%                | EL                                | N/EL                            | N/EL                          | N/EL             | N/EL      | N/EL                           |                                                       |                                 |                               |                  |           |                                |                    | 0%                                                       |                                   |                                   | 6. Governance               | Manufacturing of automotive and mobility components                                                                                              | CCM 3.18 | 25.0           | 2.6%                | EL                                | N/EL                         | N/EL                       | N/EL             | N/EL      | N/EL                        |                                                    |                              |                            |                  |           |                             |                    | 0%                                                 |                                |                                |
|                             | Turnover from activities eligible according to the taxonomy but<br>not environmentally sustainable (activities that do not conform the<br>taxonomy) (A.2) |          | 463.4                   | 3.8%                | 3.78%                             | 0%                              | 0%                            | 0%               | 0%        | 0%                             |                                                       |                                 |                               |                  |           |                                |                    | 2.32%                                                    |                                   |                                   | 7. Annexes                  | CapEx from activities eligible according to the taxonomy but not environmentally sustainable (activities that do not conform the taxonomy) (A.2) |          | 158.5          | 16.7%               | 16.7%                             | 0%                           | 0%                         | 0%               | 0%        | 0%                          |                                                    |                              |                            |                  |           |                             |                    | 11.8%                                              |                                |                                |
| 7. Annexes                  | A. Turnover of eligible activities according to taxonomy (A.1+A.2)                                                                                        |          | 515.2                   | 4.2%                | 4.2%                              | 0%                              | 0%                            | 0%               | 0%        | 0%                             |                                                       |                                 |                               |                  |           |                                |                    | 2.32%                                                    |                                   |                                   |                             | A. CapEx of eligible activities according to taxonomy (A.1+A.2)                                                                                  |          | 178.1          | 18.8%               | 18.8%                             | 0%                           | 0%                         | 0%               | 0%        | 0%                          |                                                    |                              |                            |                  |           |                             |                    | 11.8%                                              |                                |                                |
|                             | <b>B. ACTIVITIES NOT ELIGIBLE ACCORDING TO THE TAXONOMY</b>                                                                                               |          |                         |                     |                                   |                                 |                               |                  |           |                                |                                                       |                                 |                               |                  |           |                                |                    |                                                          |                                   |                                   |                             | B. ACTIVITIES NOT ELIGIBLE ACCORDING TO THE TAXONOMY                                                                                             |          |                |                     |                                   |                              |                            |                  |           |                             |                                                    |                              |                            |                  |           |                             |                    |                                                    |                                |                                |
|                             | Turnover from non-eligible activities according to taxonomy (B)                                                                                           |          | 11,758.5 €              | 95.8%               |                                   |                                 |                               |                  |           |                                |                                                       |                                 |                               |                  |           |                                |                    |                                                          |                                   |                                   |                             | CapEx from non-eligible activities according to taxonomy (B)                                                                                     |          | 771.56 €       | 81.2%               |                                   |                              |                            |                  |           |                             |                                                    |                              |                            |                  |           |                             |                    |                                                    |                                |                                |
|                             | Total                                                                                                                                                     |          | 12,273.7 €              | 100%                |                                   |                                 |                               |                  |           |                                |                                                       |                                 |                               |                  |           |                                |                    |                                                          |                                   |                                   |                             | Total                                                                                                                                            |          | 949.67 €       | 100%                |                                   |                              |                            |                  |           |                             |                                                    |                              |                            |                  |           |                             |                    |                                                    |                                |                                |

\*Last year it was 0% because no aligned figure was provided.

{105}------------------------------------------------

Image /page/105/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in a dark blue color. To the right of the word is a stylized graphic, also in dark blue, that resembles a curved line with a circle at one end, suggesting movement or connectivity.

ANNUAL REPORT 2023

Proportion of CapEx coming from products or services associated with economic activities that comply with the taxonomy corresponding to the year 2023:

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Image /page/106/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in a dark blue color. To the right of the word is a stylized graphic, also in dark blue, that resembles a curved line with a small circle at one end.

ANNUAL REPORT 2023

Proportion of OpEx coming from products or services associated with economic activities that comply with the taxonomy corresponding to the year 2023:

|                             |                                                                                                                                                       |          | 2023          |                    | Substantial contribution criteria |                              |                            |                  |           |                             |                           | Criteria for absence of significant harm ("DNSH"). |                            |                  |           |                             |                    |                                                   |                                |                                |  |
|-----------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------|----------|---------------|--------------------|-----------------------------------|------------------------------|----------------------------|------------------|-----------|-----------------------------|---------------------------|----------------------------------------------------|----------------------------|------------------|-----------|-----------------------------|--------------------|---------------------------------------------------|--------------------------------|--------------------------------|--|
| INDEX                       |                                                                                                                                                       | Codes    | Absolute OpEx | Proportion of OpEx | Climate change mitigation         | Adaptation to climate change | Water and marine resources | Circular Economy | Pollution | Biodiversity and ecosystems | Climate change mitigation | Adaptation to climate change                       | Water and marine resources | Circular Economy | Pollution | Biodiversity and ecosystems | Minimum guarantees | Proportion of OpEx that conforms to the year 2022 | Category facilitating activity | Category transitional activity |  |
| 1. Letter from the Chairman |                                                                                                                                                       |          |               |                    |                                   |                              |                            |                  |           |                             |                           |                                                    |                            |                  |           |                             |                    |                                                   |                                |                                |  |
| 2. Gestamp Group            |                                                                                                                                                       |          |               |                    |                                   |                              |                            |                  |           |                             |                           |                                                    |                            |                  |           |                             |                    |                                                   |                                |                                |  |
|                             | A. ELIGIBLE ACTIVITIES ACCORDING TO THE TAXONOMY                                                                                                      |          |               |                    |                                   |                              |                            |                  |           |                             |                           |                                                    |                            |                  |           |                             |                    |                                                   |                                |                                |  |
| 3. ESG Perspective          | A.1. Environmentally sustainable activities (conforming the taxonomy)                                                                                 |          |               |                    |                                   |                              |                            |                  |           |                             |                           |                                                    |                            |                  |           |                             |                    |                                                   |                                |                                |  |
|                             | Manufacturing of automotive and mobility components                                                                                                   | CCM 3.18 | 1.8           | 0.1%               | S                                 | N/EL                         | N/EL                       | N/EL             | N/EL      | N/EL                        | S                         | S                                                  | S                          | S                | S         | S                           | S                  | 0%                                                | F                              |                                |  |
| 4. Environmental Dimension  | OpEx of environmentally sustainable activities (conforming to the taxonomy) (A.1)                                                                     |          | 1.8           | 0.1%               | 0.1%                              | 0%                           | 0%                         | 0%               | 0%        | 0%                          | S                         | S                                                  | S                          | S                | S         | S                           | S                  | 0%*                                               |                                |                                |  |
|                             | Of which: facilitating                                                                                                                                |          | 1.8           | 100%               | 100%                              | 0%                           | 0%                         | 0%               | 0%        | 0%                          | S                         | S                                                  | S                          | S                | S         | S                           | S                  | 0%                                                | F                              |                                |  |
|                             | Of which: transitional                                                                                                                                |          | 0             | 0%                 | 0%                                |                              |                            |                  |           |                             | S                         | S                                                  | S                          | S                | S         | S                           | S                  | 0%                                                |                                | T                              |  |
| 5. Social Dimension         | A.2. Activities eligible according to the taxonomy but not environmentally sustainable (activities that do not conform to the taxonomy)               |          |               |                    |                                   |                              |                            |                  |           |                             |                           |                                                    |                            |                  |           |                             |                    |                                                   |                                |                                |  |
|                             | Manufacture of batteries, cells and accumulators                                                                                                      | CCM 3.4  | 27.9          | 2.0%               | EL                                | N/EL                         | N/EL                       | N/EL             | N/EL      | N/EL                        |                           |                                                    |                            |                  |           |                             |                    | 2.0%                                              |                                |                                |  |
| 6. Governance               | Manufacturing of automotive and mobility components                                                                                                   | CCM 3.18 | 0.0           | 0.0%               | EL                                | N/EL                         | N/EL                       | N/EL             | N/EL      | N/EL                        |                           |                                                    |                            |                  |           |                             |                    | 0%                                                |                                |                                |  |
|                             | OpEx from activities eligible according to the taxonomy but not<br>environmentally sustainable (activities that do not conform the<br>taxonomy) (A.2) |          | 27.9          | 2.0%               | 2.0%                              | 0%                           | 0%                         | 0%               | 0%        | 0%                          |                           |                                                    |                            |                  |           |                             |                    | 2.0%                                              |                                |                                |  |
| 7. Annexes                  | A. OpEx of eligible activities according to taxonomy (A.1+A.2)                                                                                        |          | 29.7          | 2.1%               | 2.1%                              | 0%                           | 0%                         | 0%               | 0%        | 0%                          |                           |                                                    |                            |                  |           |                             |                    | 2.0%                                              |                                |                                |  |
|                             | B. ACTIVITIES NOT ELIGIBLE ACCORDING TO THE TAXONOMY                                                                                                  |          |               |                    |                                   |                              |                            |                  |           |                             |                           |                                                    |                            |                  |           |                             |                    |                                                   |                                |                                |  |
|                             | OpEx from non-eligible activities according to taxonomy (B)                                                                                           |          | 1400.74 €     | 97.9%              |                                   |                              |                            |                  |           |                             |                           |                                                    |                            |                  |           |                             |                    |                                                   |                                |                                |  |
|                             | Total                                                                                                                                                 |          | 1430.49 €     | 100%               |                                   |                              |                            |                  |           |                             |                           |                                                    |                            |                  |           |                             |                    |                                                   |                                |                                |  |

\*Last year it was 0% because no aligned figure was provided.

{107}------------------------------------------------

ANNUAL REPORT 20**23** | GESTAMP [INDEX](#page-1-0)

# <span id="page-107-0"></span>05 Social Dimension

- 5.1 [Talent](#page-108-0)
- 5.2 [Health and Safety](#page-134-0)
- 5.3 [Social Contribution](#page-145-0)

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<span id="page-108-0"></span>Image /page/108/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, dark blue font. To the right of the word is a square containing a stylized image of a white object with curved lines and a circle, all on a dark blue background.

#### [5. SOCIAL DIMENSION](#page-107-0) **5.1 Talent** [5.2 Health and Safety](#page-134-0) [5.3 Social Contribution](#page-145-0)

#### ANNUAL REPORT 2023

Image /page/108/Picture/3 description: The image shows the word "INDEX" in a sans-serif font, with three horizontal lines above it. The lines are dark teal.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

# 5.1 Talent

## TALENT MANAGEMENT AND DEVELOPMENT

Our employees are the cornerstone of our company. As such, we strive to provide them with the training and tools needed for their professional growth, focusing on upskilling and reskilling to develop their talent regardless of age, gender, race or nationality.

The continuous growth and internationalisation of Gestamp has given rise to significant challenges in terms of culture, organisation and human resource management. The constant adaptation of the organisational structure to the growing needs of the Group, as well as workforce resizing, process standardisation, training in new technologies, talent management and the fostering of the corporate culture have all played a key role for Gestamp.

The double materiality assessment that was performed identified several impacts, risks and opportunities linked to the material topic **Company employees**:

#### IMPACT

| Development of the technical skills of our employees through adapted and<br>continuous training                                                                | + | Image: Green triangle  |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------|---|------------------------|
| Safeguarding of rights in relation to freedom of association or alternative measures                                                                           | + | Image: Green triangle  |
| Establishment of a robust due diligence process that allows for the prevention,<br>mitigation and remedy of potential human rights violations.                 | + | Image: Green triangle  |
| Increase or zero reduction in the employee gender gap.                                                                                                         | - | Image: Yellow triangle |
| Operational difficulties and issues with project continuity due to low talent retention and high staff turnover.                                               |   |                        |
| Fines, sanctions and strikes arising from breaches in relation to trade union activity and employee association, affecting the company's image and reputation. |   |                        |
| Reputational damage and administrative sanctions due to a lack of due diligence regarding human rights in suppliers, subcontractors and company employees.     |   |                        |
| OPPORTUNITIES                                                                                                                                                  |   |                        |
| Attraction of specialist and qualified staff due to new talent attraction plans that cover the company's new needs and safeguard its future development.       |   |                        |
| Increase in worker motivation due to policies and plans to boost motivation.                                                                                   |   |                        |

#### RISKS

N/A

N/A

N/A

Improved reputation thanks to how the company's commitment to defending and respecting human rights is received by stakeholders.

Image /page/108/Picture/21 description: The image contains two icons. The first icon is a green pyramid with three layers, outlined in blue. The second icon is a speedometer with a red gauge and a blue needle.

Low Low Medium Medium High High N/A Impact considered to exist (actual) which is why probability is disregarded. **Severity/Magnitude Probability**

{109}------------------------------------------------

[INDEX](#page-1-0)

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[5. Social Dimension](#page-107-0)

[4. Environmental Dimension](#page-59-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

To minimise the negative impacts and effects on the company and to maximise the positive impacts and effects, the key aims of Gestamp's ESG targets are:

| Description                                                                      | Level of achievement                                                                                                           |
|----------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------|
| Technical training of key staff involved in new technologies and digitalisation. | 2023 100%                                                                                                                      |
|                                                                                  | 2025 100%                                                                                                                      |
| Development programmes for leadership positions.                                 | 2023 1 program 100%                                                                                                            |
|                                                                                  | 2025 1 program for at least 30% of leadership positions. 30%                                                                   |
| ESG training for Gestamp employees (2023).                                       | 2023 In the coming years, new offers are expected to be launched 72,6%                                                         |
|                                                                                  | 2025 1 new offer.                                                                                                              |
| New female hires.                                                                | 2023 27.5%                                                                                                                     |
|                                                                                  | 2025 27%                                                                                                                       |
| Development of the Global Equality, Diversity and Inclusion plan.                | 2023 Various equality, diversity and inclusion actions have been performed. See the section Diversity and equal opportunities. |
|                                                                                  | 2025 Done                                                                                                                      |
| People with disabilities.                                                        | 2023 2.2%                                                                                                                      |
|                                                                                  | 2025 3%                                                                                                                        |

#### **[2025 ESG Plan](https://www.gestamp.com/Gestamp11/media/GestampFiles/Sustainability/Estrategia%20ESG/ESG-PLAN-2025-GESTAMP.pdf?ext=.pdf)**

With the aim of meeting these targets, the Human Resources Department oversees the management of our organisational structures and people on a company-wide, divisional, regional and production-centre level through the following actions:

**• Planning, analysis and metrics:** enabling decisions to be made regarding personnel requirements and the most suitable profiles at any given time.

- **• Diversity and equal opportunities:** fostering a shared culture within the company that guarantees and promotes equal opportunities in a transparent manner.
- **• Remuneration and benefits:** based on a shared management model for the entire Group that takes into account the pay reality in the geographical areas where it operates, and that recognises the responsibilities assumed, rewarding both individual and group performance and promoting non-discriminatory decision-making in this area.
- **• Labour relations:** developed in accordance with labour legislation that applies to each geographical area and promoting ongoing and constructive dialogue with workers' legal representatives.
- **• Talent management:** identifying and monitoring people talent with a view to promotion and/or mobility within the organisation.
- **• Selection, training and development** of the skills necessary for people to perform well in their jobs and develop new skills in critical areas for business in the medium and long term, as well as leadership skills to fill key positions in the future.
- **• Occupational health and safety** is integrated at all levels of the organisation, from day-to-day tasks to company decisions, in order to ensure safe working conditions and facilities (for more information, see the section Occupational health and safety).

Gestamp has a range of policies and standards in place to ensure the correct management of its staff, including:

> The Global Equality, Diversity and Inclusion Policy

Image /page/109/Figure/15 description: The image shows an open book icon. The book is open to two pages, and each page has several horizontal lines representing text.

[The Code of](https://www.gestamp.com/Sobre-Nosotros/Vision-y-Principios/Codigo-de-Conducta?ext=.)  [Conduct](https://www.gestamp.com/Sobre-Nosotros/Vision-y-Principios/Codigo-de-Conducta?ext=.)

Image /page/109/Picture/16 description: The image shows a hand holding two coins with dollar signs on them. The hand is open and facing upwards, as if offering or receiving the coins. The coins are stacked on top of each other, with the larger coin on the bottom and the smaller coin on top.

[The](https://www.gestamp.com/Gestamp11/media/GestampFiles/Shareholders%20Investors/Corporate%20Governance/Corporate%20Policies/Director%20Remuneration/DOC-12A-Politica-Remuneraciones-Consejeros-2024-2026.pdf?ext=.pdf)  [Remuneration](https://www.gestamp.com/Gestamp11/media/GestampFiles/Shareholders%20Investors/Corporate%20Governance/Corporate%20Policies/Director%20Remuneration/DOC-12A-Politica-Remuneraciones-Consejeros-2024-2026.pdf?ext=.pdf)  [Policy](https://www.gestamp.com/Gestamp11/media/GestampFiles/Shareholders%20Investors/Corporate%20Governance/Corporate%20Policies/Director%20Remuneration/DOC-12A-Politica-Remuneraciones-Consejeros-2024-2026.pdf?ext=.pdf)

Image /page/109/Picture/17 description: The image shows a blue outline of a puzzle piece. The puzzle piece is a square with a tab on the left side and a mortise on the top.

Image /page/109/Picture/18 description: The image shows a small, dark blue chevron pointing to the left. The chevron is positioned in the upper right corner of the image, with the rest of the image being white.

The Global

The Global Hiring Training and Development Policy

Policy

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Image /page/110/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, dark blue font. To the right of the word is a stylized graphic, also in dark blue, that resembles a curved line with a circle at the end, suggesting movement or connectivity.

Image /page/110/Picture/13 description: The image shows three horizontal lines stacked on top of each other, with the word "INDEX" written below them. The lines and the text are in a blue color.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

Image /page/110/Figure/11 description: This image is a bar chart titled "THE GESTAMP WORKFORCE" and shows the workforce evolution and profile from 2013 to 2023. The chart shows the number of employees in different regions: South America, Asia, North America, Eastern Europe, Western Europa, and Spain. On 31 December 2023, the global workforce was 44,262 company employees (3.7% more than in 2022). This represents growth of 1.0% compared to 2019, when the company achieved organic growth of 51.8% following three large business acquisitions in 2010 and 2011. The values for each year are as follows: 2013: 4.844 (Spain), 9.689 (Western Europa), 3.028 (Eastern Europe), 3.330 (North America), 4.542 (Asia), 4.844 (South America). 2014: 4.868, 9.749, 4.556, 3.538, 4.810, 4.587. 2015: 5.815, 9.870, 4.994, 4.217, 5.294, 4.011. 2016: 5.711, 10.111, 5.688, 5.251, 5.447, 4.187. 2017: 6.538, 10.648, 7.287, 6.116, 5.434, 5.025. 2018: 6.623, 10.554, 7.762, 7.390, 5.668, 5.556. 2019: 6.760, 10.234, 8.118, 7.831, 5.120, 5.759. 2020: 6.354, 9.819, 8.008, 6.974, 4.862, 4.795. 2021: 5.794, 9.342, 7.671, 7.150, 4.862, 5.090. 2022: 5.958, 9.084, 8.428, 7.391, 6.071, 5.738. 2023: 6.104, 9.125, 8.727, 7.658, 6.599, 6.049.

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Image /page/111/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in blue. To the right of the word is a blue square containing a stylized white graphic that resembles a curved line with a small circle at one end.

Image /page/111/Picture/3 description: The image shows a symbol consisting of three horizontal lines stacked on top of each other, with the word "INDEX" written in blue below the lines. The lines are also blue and appear to be of equal length and thickness. The background is white.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

| Continent      | Total Employees | Women | Men    | Under 25s | Indefinite-term<br>contract | Professional youth<br>training | Disability | At the company > 10<br>years |
|----------------|-----------------|-------|--------|-----------|-----------------------------|--------------------------------|------------|------------------------------|
| Asia           | 6,599           | 1,124 | 5,475  | 824       | 5,769                       | 33                             | 24         | 1,460                        |
| Eastern Europe | 8,727           | 2,158 | 6,569  | 1,083     | 7,728                       | 36                             | 151        | 1,575                        |
| North America  | 7,658           | 2,044 | 5,614  | 945       | 7,363                       | 12                             | 17         | 815                          |
| South America  | 6,049           | 874   | 5,175  | 908       | 5,895                       | 91                             | 283        | 1,728                        |
| Western Europe | 15,229          | 2,572 | 12,657 | 963       | 13,811                      | 441                            | 477        | 8,536                        |
| Total Gestamp  | 44,262          | 8,772 | 35,490 | 4,723     | 40,566                      | 613                            | 952        | 14,114                       |

Workforce at 31 December each year shown in the above chart. Comparison with 2022, Annex (Table VIII)

#### DISTRIBUTION OF EMPLOYEES BY COUNTRY, GENDER AND AGE

WORKFORCE PROFILE

|  |                | N° of employees |        | Men    |        | Women |       | <36    |        | 36-55  |        | Over 55 |       |
|--|----------------|-----------------|--------|--------|--------|-------|-------|--------|--------|--------|--------|---------|-------|
|  | Country        | 2022            | 2023   | 2022   | 2023   | 2022  | 2023  | 2022   | 2023   | 2022   | 2023   | 2022    | 2023  |
|  | Germany        | 3,883           | 3,986  | 3,506  | 3,578  | 377   | 408   | 954    | 1,012  | 1,923  | 1,967  | 1,006   | 1,007 |
|  | Argentina      | 858             | 922    | 794    | 844    | 64    | 78    | 158    | 186    | 625    | 644    | 75      | 92    |
|  | Brazil         | 4,880           | 5,127  | 4,137  | 4,331  | 743   | 796   | 2,487  | 2,498  | 2,296  | 2,511  | 97      | 118   |
|  | Bulgaria       | 187             | 204    | 136    | 147    | 51    | 57    | 23     | 67     | 95     | 117    | 69      | 20    |
|  | China          | 4,901           | 5,288  | 3,992  | 4,259  | 909   | 1,029 | 2,691  | 2,756  | 2,154  | 2,473  | 56      | 59    |
|  | South Korea    | 184             | 171    | 177    | 166    | 7     | 5     | 63     | 43     | 112    | 122    | 9       | 6     |
|  | Slovakia       | 397             | 433    | 241    | 266    | 156   | 167   | 139    | 155    | 225    | 250    | 33      | 28    |
|  | Spain          | 5,958           | 6,104  | 4,892  | 4,979  | 1,066 | 1,125 | 1,052  | 1,095  | 4,104  | 4,122  | 802     | 887   |
|  | United States  | 4,095           | 4,156  | 3,125  | 3,153  | 970   | 1,003 | 1,624  | 1,557  | 1,859  | 1,931  | 612     | 668   |
|  | France         | 1,604           | 1,602  | 1,310  | 1,303  | 294   | 299   | 331    | 347    | 1,058  | 1,035  | 215     | 220   |
|  | Hungary        | 474             | 497    | 329    | 342    | 145   | 155   | 135    | 141    | 277    | 288    | 62      | 68    |
|  | India          | 868             | 1,007  | 837    | 944    | 31    | 63    | 646    | 714    | 220    | 290    | 2       | 3     |
|  | Japan          | 89              | 107    | 74     | 92     | 15    | 15    | 26     | 30     | 56     | 65     | 7       | 12    |
|  | Morocco        | 316             | 277    | 275    | 243    | 41    | 34    | 305    | 259    | 11     | 17     | 0       | 1     |
|  | Mexico         | 3,296           | 3,502  | 2,368  | 2,461  | 928   | 1,041 | 2,005  | 2,086  | 1,246  | 1,355  | 45      | 61    |
|  | Poland         | 1,196           | 1,181  | 896    | 896    | 300   | 285   | 568    | 543    | 573    | 596    | 55      | 42    |
|  | Portugal       | 1,208           | 1,167  | 764    | 721    | 444   | 446   | 436    | 394    | 676    | 671    | 96      | 102   |
|  | United Kingdom | 1,832           | 1,844  | 1,637  | 1,629  | 195   | 215   | 525    | 497    | 808    | 816    | 499     | 531   |
|  | Czech Republic | 1,453           | 1,555  | 910    | 923    | 543   | 632   | 652    | 672    | 635    | 720    | 166     | 163   |
|  | Romania        | 462             | 794    | 252    | 439    | 210   | 355   | 195    | 347    | 244    | 392    | 23      | 55    |
|  | Russia         | 229             | 222    | 158    | 143    | 71    | 79    | 88     | 61     | 137    | 156    | 4       | 5     |
|  | Sweden         | 241             | 249    | 203    | 204    | 38    | 45    | 63     | 73     | 130    | 125    | 48      | 51    |
|  | Thailand       | 10              | 11     | 2      | 2      | 8     | 9     | 8      | 6      | 2      | 5      | 0       | -     |
|  | Taiwan         | 19              | 15     | 16     | 12     | 3     | 3     | 1      | -      | 12     | 11     | 6       | 4     |
|  | Turkey         | 4,030           | 3,841  | 3,720  | 3,413  | 310   | 428   | 2,262  | 2,168  | 1,753  | 1,653  | 15      | 20    |
|  | Total Gestamp  | 42,670          | 44,262 | 34,751 | 35,490 | 7,919 | 8,772 | 17,437 | 17,707 | 21,231 | 22,332 | 4,002   | 4,223 |

At the end of 2023, in addition to the Group's 44,262 own employees, a further 4,847 people from temporary agencies worked for the Group and there were 657 subcontracted workers.

Workforce at 31 December each year shown in the above table.

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Image /page/112/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in a dark blue color. To the right of the word is a square containing a stylized graphic. The graphic consists of two curved lines that form a partial loop, with a small circle at the end of the loop. The graphic is white, and the square is dark blue.

Image /page/112/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked vertically.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

#### [4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### **Classification by type of labour**

Regarding different types of employment, the Group has set out the following major professional categories:

- **• Direct labour:** employees of production plants directly involved in the processing of raw materials and components into intermediate or finished products.
- **• Indirect labour:** employees of production plants whose job is to provide direct support to the production process, thus ensuring that the process is not interrupted.
- **• Office staff:** any office employee in production plants or service centres.

In the same proportions as in previous years, on 31 December 2023, 19,385 (44%) of the Group's employees fell into the category of direct labour, 14,689 (33%) into the category of indirect labour and the remaining 10,188 (23%) into the category of office staff.

|                 | 2022   |     |       |     |        | 2023   |     |       |     |        |
|-----------------|--------|-----|-------|-----|--------|--------|-----|-------|-----|--------|
|                 | Men    | %   | Women | %   | Total  | Men    | %   | Women | %   | Total  |
| Direct Labour   | 14,414 | 78% | 4,060 | 22% | 18,474 | 14,816 | 76% | 4,569 | 24% | 19,385 |
| Indirect Labour | 13,351 | 91% | 1,275 | 9%  | 14,626 | 13,286 | 90% | 1,403 | 10% | 14,689 |
| Office Staff    | 6,986  | 73% | 2,584 | 27% | 9,570  | 7,388  | 73% | 2,800 | 27% | 10,188 |
| Total           | 34,751 | 81% | 7,919 | 19% | 42,670 | 35,490 | 80% | 8,772 | 20% | 44,262 |

#### **Classification by job category**

|                     |        | 2022  |        |        | 2023  |        |  |
|---------------------|--------|-------|--------|--------|-------|--------|--|
|                     | Men    | Women | Total  | Men    | Women | Total  |  |
| Directors           | 312    | 52    | 364    | 301    | 46    | 347    |  |
| Middle managers     | 952    | 221   | 1,173  | 956    | 254   | 1,210  |  |
| All other employees | 28,569 | 6,811 | 35,380 | 29,360 | 7,344 | 36,704 |  |
| Total               | 29,833 | 7,084 | 36,917 | 30,617 | 7,644 | 38,261 |  |

Figures represent workforce at end of year. The table includes all companies that use SAP (87% of the total workforce).

Image /page/112/Picture/21 description: A medium shot depicts a man in a navy blue polo shirt with the word "Gestamp" on the left breast, wearing safety glasses and earmuffs, and protective gloves with the word "Flex" on them. He stands with his arms crossed in front of two large blue industrial machines with white doors and small rectangular windows. The machines are labeled "BOX 3". In front of the man are two metal containers, one gray and one blue, stacked on top of each other. The background is a well-lit industrial setting.

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Image /page/113/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in blue. To the right of the word is a blue square containing a stylized white graphic that resembles a curved line with a circle at the end.

☰

☰

☰

INDEX
#### [1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

#### [4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### [5. SOCIAL DIMENSION](#page-107-0) **[5.1 Talent](#page-108-0)** [5.2 Health and Safety](#page-134-0) [5.3 Social Contribution](#page-145-0)

# HIRING THE BEST TALENT

#### **Talent attraction**

To attract talent, Gestamp has launched a number of local and corporate initiatives. The corporate training team has worked with educational institutions such as Comillas Pontifical University, the University of Deusto and several professional training centres and business schools to develop programmes that help meet the Group's needs in relation to highly specialised profiles.

In response to business demand on both a corporate and global level, Gestamp continues collaborating with the University of Deusto – giving classes on the Master's in Automotive Design and Manufacturing course – and Comillas Pontifical University, with its Chair for Connected Industry.

In 2023, the corporate selection team has mainly worked on the 3 following talent attraction initiatives:

Firstly, in collaboration with the corporate communication team, the selection team has sponsored **Formula Student** teams from the University of the Basque Country, Comillas Pontifical University in Madrid, the Technical University of Catalonia, Carlos III University in Madrid and Poznan University of Technology in Poland. 1 3

As part of this sponsorship, as well as providing financial support for each team to help them meet the financial and/or functional costs of their project activities, Gestamp has appointed a technical adviser from the Group as a mentor to guide and support each team through the vehicle design and manufacturing process. This has meant that the different teams can get to know Gestamp, learn about our technologies, products and processes and be supported by our R&D, I4.0 and Advanced Engineering areas.

Secondly, the corporate selection team, in collaboration with the internal communication and culture team, has worked on the launch of **monthly newsletters**. These newsletters feature the job vacancies published on the internal portal Gestamp Jobs with the aim of boosting talent attraction and internal mobility. The newsletters have different themes and mainly focus on vacancies within a specific department or geographical area with a high volume of recruitment, such as the USA. 2

3

Thirdly, in collaboration with the **ICEX Vives grants**, a global talent attraction and recruitment programme has been launched under which Gestamp has hired 50 recent graduates to work in production engineering, industrial engineering, processes, quality, logistics, control, etc. in various plants across Europe, the UK and the USA. Under this programme, 50 young people have started their professional career at Gestamp with a 12-month ICEX grant and subsequent commitment to remain at a foreign plant for a total of 2 years. As a brief summary, the number of positions offered per country were as follows:

| 6<br>GERMANY        | 2<br>HUNGARY        |
|---------------------|---------------------|
| 8<br>FRANCE         | 4<br>BULGARY        |
| 7<br>UNITED KINGDOM | 23<br>UNITED STATES |

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Image /page/114/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in blue. To the right of the word is a blue square containing a white graphic that resembles a stylized letter "G" or a curved line with a circle at the end.

#### [5. SOCIAL DIMENSION](#page-107-0) **[5.1 Talent](#page-108-0)** [5.2 Health and Safety](#page-134-0) [5.3 Social Contribution](#page-145-0)

## ANNUAL REPORT 2023

Image /page/114/Picture/3 description: The image shows the word "INDEX" in a sans-serif font, with three horizontal lines above it. The lines are of equal length and are stacked vertically, with a small gap between each line. The word "INDEX" is positioned directly below the lines.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

## **Recruitment and selection**

After the design and roll-out of the **Corporate Selection Policy** in 2022, 2023 saw the launch of reinforcement sessions and a weekly **audit** on the regions focusing on the onboarding process. The aim of the audit is to measure the extent to which this process is being fulfilled in accordance with the Corporate Selection Policy.

We also began to **incorporate the CID perimeter** in the Recruiting and Onboarding modules of the global selection tool (**SAP SSFF**) that was introduced in 2022. This perimeter could not be created and incorporated in 2022 because the corresponding taxonomy module was not finished.

Lastly, to measure the level of implementation of the global selection tool (SAP SSFF), a monthly audit was launched to audit the total number of hires performed each month in the tool following the procedure set out in the Corporate Selection Policy. Currently, the level of hires performed in accordance with the corporate procedure stands at 70%.

As an additional initiative linked to this point, in 2023, corporate selection KPIs were defined and automated, a structured control panel was developed and a global governance model was launched.

The aim of this control panel is to help our HR teams to quickly understand the status of the selection processes within their scope, providing them with a top-level overview of the key performance indicators (KPIs). Below follows a brief summary of the defined indicators:

Internal

external hires

Image /page/114/Picture/17 description: The image shows a blue icon of a person with a circular arrow around them. The person is drawn with simple lines, and the arrow indicates a cyclical process or change.

a maximum of 6 months

Turnover of people who have been with the company for

Image /page/114/Picture/19 description: The image shows a blue hourglass icon. The hourglass is outlined in a darker shade of blue, and the sand inside is also blue.

Time taken to cover the

vacancy

Image /page/114/Picture/22 description: The image contains two simple graphic elements. On the left, there is a small, light blue circle. To the right, there is a larger, dark blue icon that resembles a rounded doorway or archway.

movements vs Diversity of new hires in leadership positions

Image /page/114/Picture/24 description: The image shows a computer monitor icon in blue, with the text "Level of SAP SSP" below it in gray.

Image /page/114/Picture/25 description: The image shows the text "Level of SAP SSFF implementation" in gray font. The text is centered and stacked on three lines.

Image /page/114/Picture/26 description: The image shows the text "Level of SAP SSFF implementation" in gray font. Above the text is a blue icon that looks like a vertical line with a horizontal line on top.

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Image /page/115/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in a dark blue color. To the right of the word is a square containing a stylized graphic, also in dark blue and white. The graphic appears to be a curved line with a circle at one end, suggesting a connection or link.

Image /page/115/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked vertically, with a small space between each line.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

## TALENT DEVELOPMENT AND TRAINING

People's talent and ability to work in a team are an essential asset for Gestamp's success. As such, personal and professional development is nurtured through a training model with the following key aims:

Image /page/115/Picture/13 description: The image contains text describing Gestamp's view on the importance of people's talent and ability to work in a team. It states that these qualities are essential for Gestamp's success and that personal and professional development is nurtured through a training model with key aims.

Image /page/115/Picture/14 description: A group of people are sitting around a table in a meeting room. A man is standing at a whiteboard, drawing diagrams. There are papers and water bottles on the table. The room is well-lit and has a fire extinguisher on the wall.

Image /page/115/Picture/15 description: The image shows an icon of a person with stars around them. The person is wearing a shirt and tie. The stars are a light blue color, and the person is outlined in a darker blue color.

To ensure that all professionals have the **skills needed to excel** in their current or future roles, boosting their employability.

Image /page/115/Picture/17 description: The image shows a blue and white icon of a briefcase with a handshake inside. The briefcase is outlined in blue, and the handle is also blue. The handshake is in the center of the briefcase, with the hands overlapping. The hands are also blue.

To reflect the **business priorities** of Gestamp at all times.

Image /page/115/Picture/19 description: The image shows a stylized icon of a rocket ship launching. The rocket is primarily blue with a lighter blue outline. It has a rounded nose cone with a circle in the middle. Two fins are attached to the body of the rocket. The base of the rocket is emitting light blue smoke, indicating that it is launching.

To plan the **development of those who will hold key positions** for the Group's activity in the immediate future.

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Image /page/116/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, dark blue font. To the right of the word is a square containing a stylized graphic of a curved line with a circle at the end, also in a lighter shade of blue.

Image /page/116/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked on top of each other.

#### [1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

#### [4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### **Talent development**

The process of developing and retaining talent is essential for the Group to have the best professionals and ensure the success of its strategy.

The company's growth in new markets and geographical areas has meant developing and providing career opportunities for employees in the organisation both in and away from their place of origin.

In addition, Gestamp has created a talent pool of highly trained professionals, leading to an increase in the internal promotion rate in 2023, rising to 93% in the case of division directors and country managers. In the case of plant managers, the internal promotion rate is 76%. This figure is somewhat lower due to the emergence of new markets where local hiring is more advisable. If we look at mature areas, such as Spain, France and Portugal, the internal vs external promotion rate jumps to 84.2%.

In 2023, as part of the Atenea Transformation Plan, Gestamp continued to work on strengthening the talent management programme on a uniform basis across all regions. Thus, the Group's talent is identified by a combination of two variables: employee performance and potential. In order to do this, an assessment process is carried out for a large section of the organisation, the results of which are reviewed on a yearly basis by the heads of each organisation and their Human Resources teams.

In 2023, this was launched for all employees classed as office staff, with a success rate of 97%. In this regard, all managers and HR teams have been trained to guarantee full understanding and proper implementation of the initiative.

#### **Performance appraisal**

At Gestamp, work has been done to shift the performance system towards a waterfall goal-setting meritocratic method that uses strategic priorities to link employee performance to the achievement of the Group's strategic objectives.

This system increases transparency, gives employees a clearer idea of what is expected of them and allows them to focus their work on achieving said objectives. As part of this system, the performance appraisal consists of a series of individual goals set at the start of the year by the manager of each employee based on the priorities set by the Group, a personal improvement goal and a series of leadership skills that will vary depending on the individual's role within the organisation. At the end of the year, each manager evaluates each goal and each skill, producing a final performance rating. Meetings are then held with the area managers to review and confirm the results of the appraisals and to draw up action plans where necessary.

To reward our employee's hard work, motivate them and align our interests, the evaluation of the individual goals set at the start of

the year by the manager of each employee will be reflected in a percentage of the employee's annual variable remuneration, which consists of the following elements and relative weightings:

- **•** Financial goals, with a relative weighting of 50%
- **•** Strategic goals, with a relative weighting of 25%, including ESG goals
- **•** Individual goals, with a relative weighting of 25%

To make sure that these goals are achieved, feedback is used by managers as a key management tool. As such, in 2023, we launched a communication and training campaign to develop a culture of feedback and achieved 92% participation across all managers in the organisation.

Image /page/116/Picture/26 description: A woman wearing safety glasses and a dark blue t-shirt with a logo on it is standing in a factory. She is looking to the right. Behind her are various pieces of machinery, including a robotic arm, control panels, and metal racks. The factory appears to be well-lit and organized.

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[INDEX](#page-1-0)

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### **Group-wide training**

In 2023, Gestamp carried out a total of 1,226,762 hours of training. The number of employees who participated in training activities was 323,060 and the average number of training hours per employee was 28.

| Average training hours                    | 2021      | 2022        | 2023      |
|-------------------------------------------|-----------|-------------|-----------|
| Total number of training hours            | 1,094,712 | 1,146,150.5 | 1,226,762 |
| Average direct workforce                  | 40,494    | 41,616      | 43,893    |
| Average hours of training per<br>employee | 27        | 27.5        | 28        |

#### FOSTERING A CULTURE OF LEARNING

After designing and launching the Corporate Training and Development Policy in 2022, several initiatives were carried out in 2023 to strengthen a culture of learning, knowledge sharing and collaboration among employees and the implementation of practices and tools that promote learning and continuous improvement.

#### **Online learning campus update**

To continue promoting learning at Gestamp, in March 2023, we rolled out the new Gestamp Global Learning platform across the entire organisation. The aims of this update to our learning platform were to improve user experience, offer new programmes that are aligned with our global objectives and quality standards and to ensure that all Gestamp staff have access to a broad range of training programmes at any time and from any location.

In line with this idea of "Anytime & Anywhere", a mobile app was created so that all users, regardless of their role at the organisation, can access the training programmes. Through this mobile app, we can break down the barriers to training faced by some users who do not have access to a computer or the internet as the app allows for offline training.

#### **Integration of LinkedIn Learning training content**

To further boost learning and development opportunities for Gestamp staff, in April 2023, the LinkedIn Learning training catalogue was added to our online learning platform. This catalogue includes over 16,000 courses in 13 different languages and is accessible from any device.

The content is applicable across a range of areas, in addition to specific Gestamp content, and it is delivered by leading experts in current areas of interest. In addition, the content consists of videos that are under 5 minutes long, offering the flexibility to continue learning "in the flow of work".

In 2023, a total of 1,500 licences were purchased.

Image /page/117/Picture/23 description: The image shows four LinkedIn Learning courses. The first course is titled "Fundamentos de Inteligencia artificial: Redes neuronales" and has a duration of 1h 30min. The second course is titled "Fundamentos de Inteligencia artificial: Machine Learning" and has a duration of 1h 30min. The third course is titled "TensorFlow esencial" and has a duration of 3h 30min. The fourth course is titled "Trabajo colaborativo con Microsoft: SharePoint, Teams, Grupos y Viva" and has a duration of 1h 30min.

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#### [5. SOCIAL DIMENSION](#page-107-0) **[5.1 Talent](#page-108-0)** [5.2 Health and Safety](#page-134-0) [5.3 Social Contribution](#page-145-0)

**New Technologies Knowledge Transfer Model**

The New Technologies Knowledge Transfer Model aims to close the current knowledge gap between the Innovation and Industry 4.0 teams and the plants. Cross-cutting knowledge aside, our priority is the **processes and technologies that help us stand out on the market and that will help meet future business** 

Thanks to this model, our staff can find what they need at any time and can reach out to experts in any area of knowledge

To implement this transfer of knowledge, the Technological Knowledge Transfer Committee was created with business representatives and facilitated by the training and development

team. The key actions of this committee are:

## ANNUAL REPORT 2023

Image /page/118/Picture/3 description: The image shows the word "INDEX" in a dark blue sans-serif font, with three horizontal lines above it. The lines are also dark blue and are of equal length and thickness. The lines are stacked vertically, with a small gap between each line.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

Image /page/118/Picture/11 description: The image shows a blue lightbulb icon. The lightbulb is outlined in a darker blue, with the interior filled with a lighter blue. There are three short, vertical lines above the lightbulb, suggesting light or illumination.

**needs**.

within Gestamp.

To identify critical knowledge for Gestamp

Image /page/118/Picture/14 description: The image shows a network of interconnected circles. The circles are connected by lines, forming a web-like structure. The circles and lines are blue.

To design knowledge transfer initiatives

Image /page/118/Picture/16 description: The image shows a stylized map icon. The map is depicted as an open, folded document with a location marker on top. The marker is a teardrop shape with a circle inside, indicating a specific point on the map. The lines are blue.

To create a knowledge map for the Group

Image /page/118/Picture/18 description: The image shows an open book icon. The book is outlined in a dark blue color, and the pages are filled with horizontal lines, also in dark blue. The background is white.

To ensure access to the resources needed to implement the initiatives

Image /page/118/Picture/20 description: The image shows a right triangle ruler. The ruler is dark blue and has a 90-degree angle. The hypotenuse of the triangle has dashed lines.

To measure the impact of knowledge transfer initiatives

Image /page/118/Picture/22 description: A man with a beard and glasses is sitting at a desk in front of a computer. The computer screen shows a 3D model of a red object. There is a telephone, a keyboard, and a mouse on the desk. There are also some papers and folders on the desk.

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as safety, weight reduction and sustainable transport.

#### ANNUAL REPORT 2023 **In-plant employee training**

Image /page/119/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked vertically.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

Image /page/119/Figure/11 description: The image contains three bar charts. The first chart, titled "TRAINING HOURS BY TYPE OF LABOR AND GENDER", shows training hours for MOD Female (105,686), MOD Male (455,408), MOI Female (44,311), MOI Male (325,179), MOE Female (72,844), and MOE Male (167,348). The second chart, titled "PARTICIPANTS BY TYPE OF LABOR AND GENDER", shows participant numbers for MOD Female (24,621), MOD Male (127,627), MOI Female (7,935), MOI Male (80,998), MOE Female (8,804), and MOE Male (37,401). The third chart, titled "TOTAL EXTERNAL TRAINING HOURS VS INTERNAL", shows percentages of 26% and 28%.

Employees are mainly trained in the workplace, which is a highly practical approach as it guarantees they develop knowledge of the Group's industrial processes and allows them to constantly adapt to technological innovation and customer requirements in areas such

During the 2023 financial year, Gestamp's plants continued to focus on staff training and development, delivering a total of 1,200,795 hours of training. A total of 304,651 employees took part in this training, with each employee completing an average of 27.4 hours of in-

#### **Global programmes**

In addition to the training reflected in these figures, we also ran **global training programmes led by the Corporate Training and Development team**, amounting to a total of 25,967 hours of training with 22,842 participants.

Some of the highlights of the global training programmes are:

#### GES-GIGASTAMPING® TRAINING

As on other occasions, thanks to the continued collaboration between the training team and the Office of Technology and Innovation (TIO, Spanish acronym), we identified the need for an internal training workshop on hot stamping for extreme size parts: GES-Gigastamping®.

The workshop focused on product design, simulation and dies. It covered the entire stamping process and closed with Gestamp Mason's experience of manufacturing these parts.

Another key element was the opportunity for participants to expand their network of contacts within the Group and to identify experts in different fields. Given the size of the Group and the range of locations, this aspect is essential for sharing experiences and improving practices.

By the end of 2023, the Gestamp Technology Institute, Gestamp Group's training centre of excellence, saw over 120 people complete this exciting training workshop.

#### 2022 MOE: Office staff MOI: Indirect labour 2023

MOD: Direct labour

plant training.

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#### [5. SOCIAL DIMENSION](#page-107-0) **[5.1 Talent](#page-108-0)** [5.2 Health and Safety](#page-134-0) [5.3 Social Contribution](#page-145-0)

## ANNUAL REPORT 2023

Image /page/120/Picture/3 description: The image shows the word "INDEX" in black, with three horizontal blue lines above it. The lines are of equal length and are stacked on top of each other.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### INTENSIVE TRAINING IN ALUMINIUM HOT STAMPING

Given the new weight-reduction requirements for electric vehicles, the automotive sector has seen a notable rise in the use of aluminium.

The aim of intensive training in aluminium hot stamping is to establish a solid foundation in this emerging field and to build on this knowledge of high-strength aluminium hot stamping.

As such, in 2023, we launched the first of these training sessions for our R&D teams who are responsible for the development of this technology at Gestamp.

#### BACKEND DEVELOPERS FOR INDUSTRY 4.0

Given the scarcity and importance of certain professional profiles on the labour market and the need to strengthen our team of backend developers, we have created a talent attraction and development programme for young professionals from technical training programmes (*grados superiores*) in information technology, with the aim of recruiting them into the Group.

The content of this programme was designed by experts from the Industry 4.0 team in response to the current and future needs of their department. The programme has spanned a total of 265 hours.

It has been delivered by an external provider and monitored at all times by internal staff. It has also included regular progress meetings with the students.

Ten people started the programme, of which eight have already joined Gestamp and are working on projects in Madrid and Boroa.

Image /page/120/Picture/20 description: A group of about a dozen people are standing in a factory. They are all looking at the camera. Most of them are wearing casual clothes, such as jeans and t-shirts. Some of them are wearing lanyards around their necks. The factory is large and has a lot of machinery. There is a large piece of machinery behind the group of people. The floor is made of concrete and has white lines painted on it.

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Image /page/121/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked on top of each other.

#### [1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### **TRAINING ON THE GLOBAL EQUALITY, DIVERSITY AND INCLUSION POLICY**

At Gestamp, we are deeply committed to creating a safe working environment that ensures equal access to professional and personal development for all. As such, our Global Equality, Diversity and Inclusion Policy sets out a series of rules and regulations in line with the relevant legislation in force, ethical standards and social responsibility.

To ensure that all staff are aware of the Global Equality, Diversity and Inclusion Policy, we have designed online training available in the 16 languages used in the Group. This training is compulsory for all existing staff or newly hired staff since November 2023. It provides an understanding of the pillars of the Global Equality, Diversity and Inclusion Policy and the protocols to be followed in the event of any form of harassment in the workplace.

Image /page/121/Picture/14 description: The image shows a course introduction page with the title "Hello!" and the text "Welcome to this new course about Gestamp's equality, diversity and inclusion policy. First, choose your language to start." Below this text, there is a list of language options, including "Equality. Diversity and inclusion", "Iguelded, diversidad e inclusion", "Cleelistatung Diversität und antogration", "Rovnost romanosazen", "Eparte, diversite et inclusion", "Egyenidsog opko", "berlogadas", "Rovnost, rozmanitosta zadenenie", "समऔर", "、、インタ", "guardado, pivorsidade e Indusko", "Равенство разнообразие и ечелезненость", "integraça", "Igualdade, diversidade e inclusas", and "Incudering". On the right side of the image, there are six photos of diverse people.

This new training represents yet another step towards guaranteeing that Gestamp's equality principles are respected and followed in each and every initiative, action and workplace behaviour.

#### LEADERSHIP AND MANAGEMENT DEVELOPMENT

With a view to guaranteeing the future of the company, 2023 saw the second edition of the **Plant Director Development Programme**. This programme aims to ensure that our plant directors have the right level of skills, a global culture and a shared leadership approach.

It has been adapted specifically to our needs and developed by Gestamp in collaboration with the Hult Ashridge business school. Feedback from participants in the first edition of the programme informed the design of this second edition to create a highly refined programme.

The learning plan started in May 2023 with 27 participants and will finish in March 2024.

On the other hand, in October 2023, we launched the first edition of the "**Leadership Development Programme**". The aim of this programme is to develop and promote a solid foundation in leadership and to strengthen the skills of Gestamp professionals, equipping them to take on more senior roles in the future.

This programme, developed by Gestamp in collaboration with the Hult Ashridge business school, focuses on the development of key leadership skills, promotion of strategic thinking and enhancement of interpersonal skills, training leaders who can excel in complex business environments.

A total of 96 participants with different profiles and from 14 different countries were selected take part in this first edition of the programme, which will run until June 2024.

In terms of our commitment to developing female talent, as in previous years, we took part in the Promociona executive development programme run by the Spanish Confederation of Business Organisations (CEOE).

Lastly, the 2023 training programme for members of the Board of Directors was aligned with the company's strategic objectives and structured around ESG, electric vehicles, cybersecurity and the Criminal Risk Prevention Plan. It consisted of 5 online sessions with e-learning content that could be accessed through the Gestamp Global Learning online campus.

Image /page/121/Picture/25 description: A group of about 30 people are standing on a staircase. They are all dressed in business casual attire. The staircase is made of stone and has a decorative railing. There are two large lamps on either side of the staircase. The people are smiling and looking at the camera.

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[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

#### [4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### [5. SOCIAL DIMENSION](#page-107-0) **[5.1 Talent](#page-108-0)** [5.2 Health and Safety](#page-134-0) [5.3 Social Contribution](#page-145-0)

# EMPLOYEE WELLBEING

#### **Benefits**

Gestamp is committed to investing in social benefits that improve the quality of life of its employees and their families, with a focus on health and wellbeing resources. While these benefits are managed locally and will vary depending on the country where the employee works, the company is working on a proposal to ensure access to a minimum level of benefits in all countries, thereby improving the Group's employee value proposition.

Gestamp is constantly looking for ways to continue offering programmes that are adapted to the local conditions in each country, raising up its employees to empower them and support them according to their different needs.

In 2023, we organised initiatives that focused on our employees' physical and emotional wellbeing, supporting the different cultures and customs in each country. These initiatives took place in a range of different locations, always in line with local customs, and included sports activities, family days, volunteering, mental health awareness activities and cultural activities. All these activities shared the common goal of promoting healthy lifestyles, teamwork and commitment. In addition, various employee benefit programmes were implemented in a range of countries, considering the specific needs of each group and market. These benefits included a flexible remuneration plan, physiotherapy, annual health checks, employee assistance programmes, discount packages for savings on day-to-day expenses, etc.

The percentages of Gestamp Group employees with access to some of the main benefits are presented below:

| Benefit                   | % of employees with access to the<br>benefit |
|---------------------------|----------------------------------------------|
| Health insurance          | 72%                                          |
| Life insurance            | 74%                                          |
| Pension plan/Savings plan | 56%                                          |
| Wellbeing benefits        | 68%                                          |

The employee value proposition will continue to be a central theme in Gestamp's 2024 benefits strategy.

Seeking to improve the employee experience and our commitment to sustainability, seeking to generate a positive impact on employees throughout the Group.

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2023

#### **International mobility**

Image /page/123/Picture/3 description: The image shows the word "INDEX" in a sans-serif font, with three horizontal lines above it. The lines are of equal length and are stacked vertically, with a small gap between each line. The lines and the word "INDEX" are in a teal color.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

#### [4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

Gestamp employs highly qualified individuals who have the option to move country for a period of time in order to meet the specific needs of certain locations. In many cases, such mobility gives them the chance to lead new projects, like setting up a new plant or implementing new technologies or processes. This capacity to move talent provides flexibility and agility when executing projects.

There are two types of groups:

- **•** Personnel with short-term assignments: professionals who move for periods of 3 to 12 months.
- **•** Personnel with long-term assignments: professionals who, due to the particular circumstances of the project and the country, move for periods of 1 to 5 years (maximum) and, in most cases, with their families.

Once the ultimate goal has been achieved, these employees return to their original work centres, leaving the project in the hands of local employees, who take with full or near-full responsibility for its management.

We have a Corporate Policy that aims to establish, order, define and oversee the regulations and guidelines that govern employee expatriation within the Group, regardless of the country of origin and/or destination country.

In 2023, we had a total of 67 expatriate employees working abroad for over a year, providing international support.

#### PERSONNEL WITH LONG-TERM TRANSFERS PER COUNTRY OF ORIGIN AND DESTINATION

| Country        | Origin | Destination |
|----------------|--------|-------------|
| Brazil         | 1      | 1           |
| Bulgaria       | -      | 4           |
| China          | -      | 14          |
| France         | 2      | 2           |
| Germany        | 4      | 4           |
| Hungary        | -      | 1           |
| India          | -      | 2           |
| Morocco        | -      | 2           |
| Mexico         | 2      | 6           |
| Poland         | -      | 5           |
| Russia         | 1      | 2           |
| Slovakia       | -      | 3           |
| Spain          | 50     | -           |
| Sweden         | 1      | -           |
| United Kingdom | 4      | 1           |
| Turkey         | -      | 2           |
| USA            | 2      | 18          |
| Total          | 67     | 67          |

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Image /page/124/Picture/3 description: The image shows three horizontal lines stacked on top of each other, with the word "INDEX" written below them. The lines and the word are in a blue color.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### **Flexibility and work-life balance measures**

Given the nature of the business, at Gestamp's production plants, groups classified as Direct and Indirect Labour have to work in shifts. However, Gestamp promotes shift rotation with the aim of facilitating the adjustment of working hours to workers' specific needs.

For office-based workers in many regions, remote work measures have continued to be employed, in addition to other measures that promote flexibility and a good work-life balance, such as flexible working hours.

In 2023, 109 of Gestamp's work centres (103 in 2022) implemented measures related to improving the work-life balance.

#### **Collective bargaining agreements and freedom of association**

At Gestamp, labour relations are managed in accordance with union and labour legislation that applies to each geographical area. With union representation in each production plant, all aspects relating to union, labour and employee contractual relations are negotiated.

## 66% of employees are protected by a collective agreement.

In 2023, 66% of employees were covered by a collective bargaining agreement (67% in 2022). There are specific Occupational Health and Safety Committees in most production plants. In 2022, 93% of plants had employee consultation and participation mechanisms in place relating to occupational risk prevention (3% less than in 2022 since Turkey is not excluded).

In certain geographical areas, where required due to historical, cultural or legal obligations, we have inter-centre committees that complement the in-plant negotiating framework.

Image /page/124/Picture/20 description: A man wearing safety glasses and gloves stands in a factory. He is wearing a two-tone polo shirt with a white stripe. The factory contains heavy machinery.

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Total Employees

Total Employees

## ANNUAL REPORT 2023

|                             | País           | Total Direct<br>Employees 2022 | Total Employees<br>Covered by<br>Agreement 2022 | % Employees<br>Covered 2022 | Total Direct<br>Employees 2023 | Total Employees<br>Covered by<br>Agreement 2023 | % Employees<br>Covered 2023 |
|-----------------------------|----------------|--------------------------------|-------------------------------------------------|-----------------------------|--------------------------------|-------------------------------------------------|-----------------------------|
|                             | Germany        | 3,883                          | 3,828                                           | 99%                         | 3,914                          | 3,827                                           | 98%                         |
|                             | Argentina      | 858                            | 858                                             | 100%                        | 922                            | 922                                             | 100%                        |
|                             | Brazil         | 4,880                          | 4,880                                           | 100%                        | 5,127                          | 5,127                                           | 100%                        |
| INDEX                       | Bulgaria       | 187                            | 187                                             | 100%                        | 204                            | 204                                             | 100%                        |
|                             | South Korea    | 184                            | 144                                             | 78%                         | 171                            | 128                                             | 75%                         |
|                             | Slovakia       | 397                            | 277                                             | 70%                         | 433                            | 306                                             | 71%                         |
| 1. Letter from the Chairman | Spain          | 5,958                          | 5,803                                           | 97%                         | 6,104                          | 5,891                                           | 97%                         |
|                             | USA            | 4,095                          | 103                                             | 3%                          | 4,179                          | 102                                             | 2%                          |
| 2. Gestamp Group            | France         | 1,604                          | 1,604                                           | 100%                        | 1,602                          | 1,593                                           | 99%                         |
|                             | Hungary        | 474                            | 0                                               | 0%                          | 497                            | 0                                               | 0%                          |
|                             | India          | 868                            | 446                                             | 51%                         | 1,007                          | 256                                             | 25%                         |
| 3. ESG Perspective          | Japan          | 89                             | 83                                              | 93%                         | 107                            | 74                                              | 69%                         |
|                             | Morocco        | 316                            | 0                                               | 0%                          | 277                            | 0                                               | 0%                          |
|                             | Mexico         | 3,296                          | 1,999                                           | 61%                         | 3,551                          | 1,651                                           | 46%                         |
| 4. Environmental Dimension  | Poland         | 1,196                          | 1,196                                           | 100%                        | 1,181                          | 1,181                                           | 100%                        |
|                             | Portugal       | 1,208                          | 648                                             | 54%                         | 1,167                          | 657                                             | 56%                         |
| 5. Social Dimension         | United Kingdom | 1,832                          | 1,202                                           | 66%                         | 1,844                          | 1,791                                           | 97%                         |
|                             | Czech Republic | 1,453                          | 0                                               | 0%                          | 1,555                          | 0                                               | 0%                          |
|                             | China          | 4,901                          | 758                                             | 15%                         | 5,288                          | 701                                             | 13%                         |
| 6. Governance               | Romania        | 462                            | 462                                             | 100%                        | 794                            | 794                                             | 100%                        |
|                             | Russia         | 229                            | 0                                               | 0%                          | 222                            | 0                                               | 0%                          |
|                             | Sweden         | 241                            | 241                                             | 100%                        | 249                            | 249                                             | 100%                        |
| 7. Annexes                  | Thailand       | 10                             | 0                                               | 0%                          | 11                             | 0                                               | 0%                          |
|                             | Taiwan         | 19                             | 0                                               | 0%                          | 15                             | 0                                               | 0%                          |
|                             | Turkey         | 4,030                          | 4,030                                           | 100%                        | 3,841                          | 3,841                                           | 100%                        |
|                             | Total Gestamp  | 42,670                         | 28,749                                          | 67%                         | 44,262                         | 29,295                                          | 66%                         |
|                             |                |                                |                                                 |                             |                                |                                                 |                             |

The company has a European Committee that represents all of the countries in its scope, and it organises working groups tasked with combating issues relating to sustainability and risk prevention.

Gestamp places special emphasis on issues that are essential to the Group: respect for union and labour legislation, non-discrimination policies, compliance with the Code of Conduct, occupational health and safety, and training and development in key areas to ensure the correct implementation of the business strategy, which always follows the framework for fundamental rights at work set out in the International Labour Organization (ILO)'s agreements.

Communication with employees and their representatives is fundamental for Gestamp as it allows open, trusting relationships to be built.

The Group facilitates channels for two-way communication in order to provide employees with important information and gain a better understanding of their real concerns and worries.

Each centre has its own formal channels for communication between the company and its employees. The most common channels are the local and corporate intranet, the internal newsletter, the satisfaction and organisational climate survey, the suggestion box and the information channels.

Employees also have access to established communication channels at the Compliance Office through which they can report or submit queries regarding the Code of Conduct. The Group has a corporate intranet that provides information on the most significant matters relating to the organisation on a corporate, divisional, plant and individual level.

100% Scope of the consolidation perimeter.

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Image /page/126/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked on top of each other.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### **Organisational climate survey**

During 2023, a total of 171 management companies of the Gestamp Group have carried out climate surveys aimed at their staff. These surveys were aimed at a total of 43,674 employees, which corresponds to 98.67% of the total Group workforce at the end of the year. The average number of employees satisfied with the Organization has been 79.14%.

*To reach this figure, the results were standardised to come up with a global satisfaction score given that each work centre conducted a specific survey for its workforce.* 

#### **Absenteeism**

The absenteeism rate at Gestamp is stable and has improved compared with the previous year, standing at 4.4%. The total number of absenteeism hours in 2023 was 3,477,290, representing an average of 6.6 absenteeism hours per month per employee. These absenteeism hours include absences due to common illness (67.3%), work-related accidents and illnesses (15.9%), accidents on the way to/from work (0.4%) and absences without a valid reason (10.8%).

#### TOTAL HOURS OF ABSENCE BY REGION

|                |                         | 2022       |          |                         | 2023       |          |  |
|----------------|-------------------------|------------|----------|-------------------------|------------|----------|--|
| Region         | Scheduled hours of work | Abs. Hours | Abs. (%) | Scheduled hours of work | Abs. Hours | Abs. (%) |  |
| Asia           | 10,354,256              | 203,245    | 1.7%     | 11,756,552              | 213,730    | 1.8%     |  |
| Eastern Europe | 15,510,333              | 847,593    | 5.2%     | 16,295,826              | 764,363    | 4.7%     |  |
| North America  | 15,087,148              | 394,158    | 2.5%     | 15,609,455              | 337,208    | 2.2%     |  |
| South America  | 10,138,615              | 449,072    | 4.1%     | 11,076,622              | 387,964    | 3.5%     |  |
| Western Europe | 23,848,092              | 1,843,017  | 7.6%     | 24,274,585              | 1,774,024  | 7.3%     |  |
| Total Gestamp  | 74,938,444              | 3,737,085  | 5.0%     | 79,013,041              | 3,477,290  | 4.4%     |  |

#### TABLES AND ADDITIONAL INFORMATION IN ANNEXES

Information linked to the Chapter 5.1. Talent, which can be found in the ANNEXES section.

- **•** [\(I\) Distribution of employees by contract type and country](#page-200-0)
- **•** [\(II\) Average number of employees by contract type and type of](#page-201-0)  [labour](#page-201-0)
- **•** [\(III\) Average number of employees by contract type, age and](#page-201-0)  [gender](#page-201-0)
- **•** [\(IV\) Turnover rate \(total and voluntary\) and number of leaves by](#page-202-0)  [gender, age and region](#page-202-0)
- **•** [\(V\) Hirings by gender, age and country](#page-204-0)
- **•** [\(VI\) Layoffs by gender, age and professional category](#page-205-0)
- **•** [\(VII\) Total hours worked and absenteeism hours by country](#page-205-0)
- **•** [\(VIII\) Workforce profile 2023](#page-206-0)

\*The absenteeism rate is the ratio of total absenteeism hours in the Group compared to the total scheduled hours of work.

**•** See Total Hours of Absence by Country in Annex.

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#### [5. SOCIAL DIMENSION](#page-107-0) **[5.1 Talent](#page-108-0)** [5.2 Health and Safety](#page-134-0) [5.3 Social Contribution](#page-145-0)

#### ANNUAL REPORT 2023

Image /page/127/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked on top of each other.

[1. Letter from the Chairman](#page-2-0)

#### [2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

# REMUNERATION

Gestamp, in line with its equal opportunities principle enshrined in its Code of Conduct, promotes gender equality in access to employment, in the promotion of professionals and in equal pay.

Remuneration is based on levels of responsibility, external competitiveness and professional career path, avoiding differences between men and women other than the merits achieved in the performance of their work.

#### **Average remuneration**

Average remuneration is the average compensation received by all members of the eligible collective, which takes into account all money received: fixed salary and annual variable pay, extrapolated to full-time hours. In addition, the amounts have been converted to euros using the average exchange rate for 2023. By including the exchange rate variable, the differences between remuneration may be due to macroeconomic variables that are not linked to the Gestamp remuneration policy.

This calculation method is the same as the method used for the past two years and therefore the data is comparable.

#### **Average remuneration by professional category broken down by gender in 2023 for the whole Group**

Just as in 2022, to calculate the average remuneration for 2023, we have chosen to calculate it by category. This allows us to obtain uniform collectives from a responsibility point of view, an aspect which is directly linked to our employees' remuneration.

|                     | 2023    |         |         | 2022    |         |         |
|---------------------|---------|---------|---------|---------|---------|---------|
| Global Gestamp      | Men     | Women   | Total   | Men     | Women   | Total   |
| Directors (1)       | 177,972 | 144,648 | 173,565 | 166,985 | 119,232 | 160,185 |
| Middle managers (2) | 79,529  | 74,807  | 78,529  | 73,027  | 67,910  | 72,043  |
| All other employees | 26,796  | 22,540  | 25,943  | 25,206  | 21,461  | 24,486  |
| Total               | 29,795  | 24,955  | 28,826  | 27,982  | 23,523  | 27,126  |

Average remuneration data includes theoretical total annual wages. Scope: 85.9% of the workforce (97.1% excluding joint ventures). The year-end exchange rate has been applied to compare wages. The differences between male and female remuneration are due to the distribution per country and their different local markets, cost of living and exchange rate.

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Image /page/128/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in a dark blue color. To the right of the word is a square containing a stylized image of a hook or curve in white, also set against a dark blue background.

#### [5. SOCIAL DIMENSION](#page-107-0) **[5.1 Talent](#page-108-0)** [5.2 Health and Safety](#page-134-0) [5.3 Social Contribution](#page-145-0)

#### ANNUAL REPORT 2023

Image /page/128/Picture/3 description: The image contains the title "Average remuneration by professional category broken down by gender in 2023 for Spain".

of-living differential, differences in local markets and currency fluctuation.

The following section details the average salary for employees based in Spain, the country where the Group is most active.

This analysis eliminates variables from the previous section that affected the outcome, such as the cost-

Global Gestamp Men Women Total Men Women Total Directors 187,094 154,371 181,361 177,740 132,203 168,894 Middle managers 73,982 73,502 73,851 67,225 68,062 67,445 All other employees 35,534 35,940 35,608 33,674 33,442 33,633 **Total 40,928 41,439 41,023 38,648 38,593 38,638**

2023 2022

Image /page/128/Picture/5 description: The image shows the word "INDEX" in a sans-serif font. A horizontal line is above the word.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

|      | <34    | 36-55  | >55    | Total  |
|------|--------|--------|--------|--------|
| 2023 | 20,468 | 31,719 | 42,527 | 28,826 |
| 2022 | 18,915 | 30,308 | 40,835 | 27,126 |

The following shows the average remuneration by age in 2023.

Average remuneration data includes theoretical total annual wages. Scope: Spain

**Average remuneration by age**

**Whole Group** 

document.

Average remuneration data includes theoretical total annual wages. Scope: 85.9% of the workforce (97.1% excluding joint ventures). The year-end exchange rate has been applied to compare wages. The differences between male and female remuneration are due to the distribution per country and their different local markets, cost of living and exchange rate.

As in 2022, three broad groups have been established in line with the other reports referred to in this

Image /page/128/Picture/15 description: A man is sitting in an office chair in front of a computer. He is wearing a dark blue polo shirt with a logo on the left breast. The office has blue walls and a blue floor. There is a desk with some equipment on it to the right of the man. There is a fire extinguisher on the wall in the background.

**Average remuneration by age Spain**

The following section details the average salary, broken down by age, for employees based in Spain, the country where the Group is most active.

This analysis eliminates variables from the previous section that affected the outcome, such as the costof-living differential, differences in local markets and currency fluctuation.

|      | <34    | 36-55  | >55    | Total  |
|------|--------|--------|--------|--------|
| 2023 | 33.973 | 40.961 | 49.096 | 41.023 |
| 2022 | 32.189 | 38.705 | 46.071 | 38.638 |

Average remuneration data includes theoretical total annual wages. Scope: Spain

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2023

#### [5. SOCIAL DIMENSION](#page-107-0) **[5.1 Talent](#page-108-0)** [5.2 Health and Safety](#page-134-0) [5.3 Social Contribution](#page-145-0)

#### GENDER PAY GAP

Image /page/129/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked vertically, suggesting a menu or list icon.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

The gender pay gap is the clearest indicator in terms of methodology when analysing the difference in salary between men and women. It is calculated by taking the average remuneration of each country (including fixed salary and variable remuneration, extrapolated to full-time hours and for the whole year). The calculation per country takes into consideration the relative size of each country by dividing it among all eligible employees. This allows us to achieve a reliable global indicator of the difference in salary between men and women.

| 7.90% | 6.60% | 7.83% |
|-------|-------|-------|
| 2023  | 2022  | 2021  |

The result of the salary gap calculation is 7.9% for total remuneration (fixed remuneration + variable remuneration).

The same calculation method was used in financial year 2022.

The 2022 salary gap calculation is based on the great effort made by the company in implementing its own unique global professional classification system, named Gestamp Group Grading System (G3S). The system was fully introduced by the end of 2022, reaching a maximum level of classification detail. In 2023, classification audits were performed to ensure the quality of the data and reflection of the organisational changes in the classification system. The work performed in 2022 and the revisions in 2023 have given us an up-to-date, robust and reliable database for comparing positions with the same level of remuneration.

The analyses were based on the active workforces at 31 December 2023 in 21 countries (Argentina, Germany, Brazil, China, South Korea, Slovakia, Spain, USA, France, Hungary, India, Italy, Japan, Mexico, Poland, Portugal, Czechia, Russia, Sweden, Taiwan and the UK). In 2023, Russia was added to the analysis, while it was excluded in 2022 given the geopolitical situation. As a result, the scope covers 97.1% of the Gestamp workforce (excluding joint ventures) and a total of 38,001 employees. In 2022, the scope covered 36,468 employees. Joint ventures were excluded from the calculation because Gestamp is not responsible for managing their remuneration.

Following the methodology used in 2022, the analysis does not include interns, expatriate workers, cases of long-term leave, partial retirement and companies that do not use the SAP HCM system. These exclusions make up the difference between 97.1% of the Gestamp workforce and 100% of the Gestamp workforce.

The gender pay gap calculation is made using the theoretical annual remuneration, extrapolated to full-time hours. This information is automatically extracted from the SAP HCM system. To reaffirm the quality of the data and review of eligible employees, all information has been validated with the local HR teams. The automated extraction of the entire database was possible thanks to efforts to improve data quality in recent years. These improvements include the interconnection between payroll systems and the definition of salary additions across the Group.

The method, aligned with the method used in 2022, compares employees in positions with the same level of remuneration according to the Gestamp classification system (G3S). The levels of remuneration are used to define the salary bands. This allows the policy to be linked to objective criteria and guarantees there is no discrimination of any kind.

The following table shows the workforce broken down by gender for the past three years. If we compare this year with the previous year, there is a clear improvement in the number of women, rising from 19.20% of total employees in 2022 to 20.18% in 2023.

In terms of women holding positions of responsibility, according to the Gestamp Global Grading System (G3S) methodology, 13.66% of management and 21.46% of medium-level positions are held by women. In the case of middle management, there has been a significant increase in the presence of women, rising from 18.80% in 2022 to 21.46% in 2023, surpassing the total percentages of women in the organisation.

|                             |        | Women  |        |        | Men    |        |  |
|-----------------------------|--------|--------|--------|--------|--------|--------|--|
| Professional Classification | 2023   | 2022   | 2021   | 2023   | 2022   | 2023   |  |
| Directors                   | 13,66% | 14,30% | 15,30% | 86,34% | 85,70% | 84,70% |  |
| Middle managers             | 21,46% | 18,80% | 20,40% | 78,54% | 81,20% | 79,60% |  |
| All other employees         | 20,20% | 19,30% | 18,60% | 79,80% | 80,70% | 81,40% |  |
| Total                       | 20,18% | 19,20% | 18,60% | 79,82% | 80,80% | 81,40% |  |

Scope: Gestamp workforce, excluding joint ventures.

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#### [5. SOCIAL DIMENSION](#page-107-0) **[5.1 Talent](#page-108-0)** [5.2 Health and Safety](#page-134-0) [5.3 Social Contribution](#page-145-0)

#### ANNUAL REPORT 2023

Image /page/130/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked on top of each other.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

## DIVERSITY AND EQUAL OPPORTUNITIES

Gestamp promotes diversity, recognising it as a key competitive advantage for its business, while it gives priority to equity and inclusion in its people management model. Gestamp respects the rights of equality and non-discrimination on the grounds of gender, sexual orientation, social origin, ethnic origin, age, disability and religion, among others. This is provided for in the company's Code of Conduct and the sixth goal of the UN Global Compact, which the Group has complied with since 2008.

In 2023, Gestamp approved an Equality, Diversity and Inclusion Policy that promotes equal opportunities, non-discrimination, diversity and inclusion of all Gestamp Group employees, in accordance with the legislation in force in each country and following international good practices. This includes the provisions of the Sustainable Development Goals (SDG) approved by the UN, specifically SDG 5: Gender Equality and SDG 10: Reduced Inequalities.

In 2024, as part of the Strategic ESG Plan, we are planning to create a Global Equality, Diversity and Inclusion plan for the whole Group. With this plan, we aim to perform a deeper analysis of diversity across the different geographical regions and to strengthen the areas of action for specific groups.

#### **Gender diversity**

In 2023, Gestamp has worked on the geographical expansion of its gender equality policies through the following actions:

- **•** Approval of the Global Equality, Diversity and Inclusion Policy, the aim of which is to create a positive environment that facilitates and promotes equal opportunities, non-discrimination, diversity and inclusion of all Group employees.
- **•** Implementation of the Equality Plan at the Gestamp management companies. Each plan is aligned with Group and legislative criteria and is managed and implemented on a local level. Similarly, the Corporate team has worked on communication campaigns, training on the Equality Policy and the sexual harassment prevention protocol, among other actions, to support implementation on a local level.

At Gestamp, women represent 20% of the Group's total workforce.

The automotive industry clearly has plenty of work to do to reach gender parity, due in part to the traditional masculinisation of the sector and the continued underrepresentation of women in STEM careers (science, technology, engineering and maths).

Gestamp strives to increase the proportion of women in its workforce. This effort is reflected in the percentage of female recruits, which grew from 22% in 2018 to almost 27.5% in 2023. This shows a positive trend, thanks in large part to the measures included in the Equality Plans at Group level and the awareness of the Group's HR teams.

In terms of women holding positions of responsibility, 13.3% of management and 21.0% of mediumlevel positions are held by women. In the average remuneration analysis, we have chosen to group by category rather than by type of labour as this allows for a better reflection of the pay reality by creating homogeneous groups in terms of responsibility, which is reflected in remuneration.

It's not always easy to find women in selection processes for certain common positions in the automotive sector, such as die-makers, welders and maintenance specialists. Even so, at some work centres, there is almost an equal ratio of women to men.

| Region         | Female | Male  | Total 2022 | Female | Male  | Total 2023 |
|----------------|--------|-------|------------|--------|-------|------------|
| Asia           | 467    | 2,555 | 3,022      | 420    | 1,762 | 2,182      |
| Eastern Europe | 267    | 535   | 802        | 337    | 526   | 863        |
| North America  | 1,591  | 3,117 | 4,708      | 1,336  | 2,737 | 4,073      |
| South America  | 262    | 1,298 | 1,560      | 225    | 1,138 | 1,363      |
| Western Europe | 569    | 1,699 | 2,268      | 618    | 1,575 | 2,193      |
| Total Gestamp  | 3,156  | 9,204 | 12,360     | 2,936  | 7,738 | 10,674     |
| %              | 25.5%  | 74.5% | 100.0%     | 27.5%  | 72.5% | 100.0%     |

In 2023, 27.5% of new hires were women, which is 7.5 percentage points higher than the percentage of women on staff (20%)

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**IBEX® GENDER EQUALITY INDEX.**

management positions.

This is the first year that Gestamp has been part of this Spanish stock exchange and market (BME) index, complying with the compulsory gender equality requirements: To be part of the index, companies must have between 25% and 75% female presence on their Board of Directors and between 15% and 85% in senior

# ANNUAL REPORT 2023

# [INDEX](#page-1-0)

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

Image /page/131/Picture/11 description: The image is a logo for "Target Gender Equality" and the UN Global Compact. The logo is set against a dark blue background. On the left side of the logo is the UN Global Compact logo, which features a globe with lines of latitude and longitude, surrounded by the words "UN GLOBAL COMPACT" in a circular arrangement. Below the globe is a laurel wreath. To the right of the UN Global Compact logo is the text "TARGET GENDER EQUALITY" in white, sans-serif font. On the right side of the logo is a circle made up of different colored segments, each representing one of the Sustainable Development Goals.

#### **BEST PRACTICES**

#### **GESTAMP PARTICIPATES IN THE 4TH TARGET GENDER EQUALITY ACCELERATOR PROGRAMME.**

The Target Gender Equality accelerator programme, organised by the UN Global Compact, provides companies with support in defining and reaching ambitious business objectives in order to promote gender equality. This initiative is run in collaboration with the Global Compact Local Networks and helps companies set targets and develop capacity-building actions to increase women's representation and leadership.

#### **BEST PRACTICE IN FOSTERING FEMALE TALENT IN INDIA.**

In its plants in India, Gestamp has started the 'Gender Equality Vision 2020-2025' programme with the aim of reaching a 20% female workforce by 2025. In the context of an inclusive workplace, this plan has been created to guarantee the recruitment, training and development of female professionals, implementing policies to ensure a workplace that is safer and has the utmost respect for female talent.

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Image /page/132/Picture/3 description: The image shows the word "INDEX" in blue text below three horizontal blue lines.

#### [1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### **Cultural and geographical diversity**

Gestamp sees its heterogeneous workforce as an opportunity for the Group to find better solutions to the current global challenges.

Geographical and cultural diversity is one of the distinctive features of the Gestamp workforce: Over 40,000 professionals with 95 different nationalities work across 24 countries. In each country where the company operates, there is an average of 13 nationalities at each geographical location, while the countries with the greatest cultural and geographical diversity are: Germany, Spain, the UK and France, with 46, 42, 32 and 27 different nationalities in each workforce, respectively.

This geographical diversity is incredibly enriching for Gestamp, a company that is committed to hiring local talent as a key source of creativity and innovation. In addition, this helps develop an increasingly more inclusive Group in terms of country of birth, culture, race and sex. Gestamp works to find points of cooperation between people from different cultures and to make the joint project and shared identity their own.

#### NATIONALITIES OF GESTAMP EMPLOYEES

Image /page/132/Figure/16 description: This bar chart shows the number of speakers of different languages. The x-axis shows the languages, and the y-axis shows the number of speakers. The bar chart shows that Spanish has 6.094 speakers, Chinese has 5.210 speakers, Brazilian has 5.190 speakers, American has 4.022 speakers, German has 3.564 speakers, Mexican has 3.542 speakers, British has 1.717 speakers, French has 1.454 speakers, Czech has 1.216 speakers, Portuguese has 1.116 speakers, Indian has 996 speakers, Polish has 960 speakers, Argentinian has 935 speakers, Ukrainian has 387 speakers, Slovakian has 359 speakers, Swedish has 252 speakers, Turkish has 168 speakers, Korean has 131 speakers, Russian has 124 speakers, and Mongolian has 107 speakers.

#### NATIONALITIES OF GESTAMP SENIOR MANAGERS

Image /page/132/Figure/18 description: This bar chart shows the percentage of accuracy for different languages. Spanish has the highest percentage of accuracy at 156, followed by Chinese at 32, German at 26, Brazilian and British at 21, American at 16, French at 15, Mexican at 12, Indian at 9, Argentinian and Russian at 8, Portuguese and Japanese at 4, Swedish and Czech at 3, Korean and Slovakian at 2, and Canadian, Colombian, Tunisian, Polish, and Eritrean at 1.

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Image /page/133/Picture/3 description: The image shows the word "INDEX" in a sans-serif font, with three horizontal lines above it. The lines are of equal length and are stacked vertically, with a small gap between each line. The word "INDEX" is positioned directly below the lines, centered horizontally with respect to them. The color of the lines and the word "INDEX" is a teal or dark cyan.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### **Generational diversity**

Gestamp's inclusive nature is also shown in its inclusion of people of different ages: 40% of employees are under the age of 35, 50% are aged between 36 and 55 and 10% are over 55. This interaction between different generations is very enriching for Gestamp because it encourages innovation in problem solving, as each generation brings a different perspective.

**[See Annexes: Average number of employees by contract type, age and gender](#page-201-0)** 

Image /page/133/Picture/14 description: Three men are gathered around a piece of machinery. One man is wearing an orange safety vest and pointing at the machine. The other two men are wearing red shirts and looking at the machine. The machine is purple and has various pipes and tubes attached to it.

#### **Functional diversity**

Gestamp Group companies directly hire people with disabilities to their workforce to facilitate their entry to the job market, and they also outsource products and services to special employment centres.

The number of employees with a disability across the entire Group in 2023 was 952 (941 in 2022), representing 2.2% of the Group's workforce, with 206 people with disabilities hired via goods and services.

For adaptations or the construction of new facilities, Gestamp hires local engineers that prepare the projects in accordance with local regulations, complying with all accessibility requirements. Furthermore, in order to make information more accessible, the Gestamp website meets all Level A criteria established by the World Wide Web Consortium (W3C)'s Web Accessibility Initiative (WAI).

Image /page/133/Picture/19 description: A woman wearing safety glasses, a dark blue shirt with a white logo, and gray gloves is working in a factory. She is standing at a table and appears to be working with metal parts. The background of the image shows factory equipment and machinery.

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<span id="page-134-0"></span>Image /page/134/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in a dark blue color. To the right of the word is a square containing a stylized graphic, also in dark blue. The graphic consists of a curved line that resembles a hook or a stylized "G", with a small circle at the end of the curve.

#### [5. SOCIAL DIMENSION](#page-107-0) [5.1 Talent](#page-108-0) [5.2 Health and Safety](#page-134-0) [5.3 Social Contribution](#page-145-0)

#### ANNUAL REPORT 2023

Image /page/134/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked on top of each other.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

# 5.2 Health and Safety

Occupational Health and Safety is a priority for Gestamp, which has a firm commitment to ensuring a safe and healthy work environment in all areas.

As a result of the double materiality analysis, several Impacts, Risks and Opportunities related to the material topic of Occupational **Health and Safety** have been identified:

#### IMPACT

Reduced number of workplace accidents resulting in absence from work, following the introduction of the Occupational Health and Safety System (GHSI) at global level

#### RISKS

Fall in production caused by a rise in absences from work of Gestamp's employees.

#### OPPORTUNITIES

Improved productivity due to increased employee confidence as investments have been made in innovative safety systems to improve safety in manufacturing processes, employee training and communication channels.

Image /page/134/Picture/20 description: The image contains two icons. The first icon is a green pyramid with a blue outline. The second icon is a gauge with yellow and white sections and a blue needle.

N/A

Image /page/134/Figure/21 description: The image shows a table with two columns, "Severity/Magnitude" and "Probability". The "Severity/Magnitude" column has three rows: "Low", "Medium", and "High", each with a corresponding triangle icon colored red, yellow, and green, respectively. The "Probability" column also has three rows: "Low", "Medium", and "High", each with a corresponding gauge icon colored green, yellow, and red, respectively. Below the "Probability" column, there is a row that says "N/A Impact considered to exist (actual) which is why probability is disregarded."

Image /page/134/Picture/22 description: The image shows a person welding metal. The person is wearing a welding mask and gloves. Sparks are flying from the welding torch. The metal is glowing red hot.

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In order to minimise these impacts and the negative effects for the company, on the one hand, and to maximise the positive effects and impacts, on the other, Gestamp has developed an ESG plan which aims to achieve the following:

|                             | Description                                                       | Level of achievement                                                                                  |
|-----------------------------|-------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------|
| INDEX                       | Gestamp Health and Safety System audited internally.              | 2023 55%<br>2025 100%                                                                                 |
| 1. Letter from the Chairman | Reduced accident frequency rate (base year 2021).                 | 2023 -10%<br>2025 -5%                                                                                 |
| 2. Gestamp Group            | Working Conditions Index.                                         | 2023 Below 45/100<br>2025 Below 45/100                                                                |
| 3. ESG Perspective          | Prevention Management Index.                                      | 2023 Below 45/100<br>2025 Below 45/100                                                                |
| 4. Environmental Dimension  | Extent to which products improve passenger safety in an accident. | 2023 An analysis is being conducted.<br>2025 The company's products help to improve passenger safety. |
| 5. Social Dimension         |                                                                   |                                                                                                       |

#### **[2025 ESG Plan](https://www.gestamp.com/Gestamp11/media/GestampFiles/Sustainability/Estrategia%20ESG/ESG-PLAN-2025-GESTAMP.pdf?ext=.pdf)**

[7. Annexes](#page-199-0)

[6. Governance](#page-155-0)

Gestamp's approach to prevention has evolved over time: while the company once focused on the standard practice of controlling accident rates, it now has an ambitious management system all of its own. Its system sets out safety criteria in relation to working conditions and management requirements at 100% of Gestamp's production centres. It is even more stringent than the requirements of local legislation in some countries.

It is also used to assess health and safety performance and provides a road map for continuous improvement.

The following principles are included in **[Gestamp's Occupational Health and Safety Policy](https://www.gestamp.com/Gestamp11/media/GestampFiles/Sustainability/Commitments/Health%20and%20safety/Politica-de-Salud-y-seguridad-en-Gestamp-(pdf).pdf?ext=.pdf)**:

- **•** Health and safety issues must be integrated into daily tasks and decision-making both in the design phase of the workplaces themselves, of each system to be used or of each piece of work equipment, as well as during their operation for the performance of the activity.
- **•** Preventing occupational accidents and diseases is the essential aim of this Policy. It is achieved by preventing and minimising the risks to the health and safety of people. The company therefore undertakes continuous improvement and actions based on risk analysis.
- **•** Complying with the legislation of all countries in which the Gestamp Group operates. However, the internal Health and Safety Policy is the Gestamp Group's standard, as it goes beyond what is required by law in most cases.
- **•** Risks that are important due to their severity, that is, those that may lead to serious accidents, must be prevented or minimised using technical means.
- **•** By establishing suitable regulations and procedures, as well as training, we can control risks that we have not been able to prevent.
- **•** Under no circumstances should activity be placed before safety.

Image /page/135/Picture/16 description: In an indoor shot, a man wearing safety glasses, earplugs, and gloves is working in a factory. He is wearing a short-sleeved navy blue shirt and blue arm protectors. He is standing in front of a table with a large metal piece on it, and he is touching the metal piece with his gloved hands. There are other metal pieces on a conveyor belt in front of him. In the background, there is a blue metal fence with safety signs on it.

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2023

[5. SOCIAL DIMENSION](#page-107-0)

Image /page/136/Picture/2 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked vertically, with a small space between each line.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

# GESTAMP'S HEALTH AND SAFETY SYSTEM

The Gestamp Health and Safety System (GHSS) was developed to support plants in their quest to continuously improve safety. This management system is based on a balanced scorecard with a global indicator, the Gestamp Health & Safety System Indicator (GHSI), which was developed inhouse and makes it possible to evaluate the safety system of all the plants in a homogeneous and consistent fashion.

[5.1 Talent](#page-108-0) **[5.2 Health and Safety](#page-134-0)** [5.3 Social Contribution](#page-145-0)

GHSS is a robust system that seeks ongoing improvement and takes into account both risk analysis and the definition of standards and procedures, as well as training, in order to ensure the safety and health of workers.

Image /page/136/Picture/13 description: In a factory setting, a woman wearing a dark blue uniform with the word "estamp" on the back is placing a metal component into a wire basket. The factory has yellow and blue machinery. The text on the machinery includes "Meproco", "UTIL 1", "TALONERA AUDI A-1", "XL10", "CAPS F16", and "UB. A3.1".

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2023

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[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

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#### **Experience**

Creation os manuals and supporting documents. Safety standards, management guides, detailed specifications, good practices.

#### **GHSS features**

The GHSS Management System is integrated at all organisational levels and implemented at 100% of production plants operated by Gestamp, meaning that it regulates the activities of 47,099 employees (41,608 internal and 5,491 external employees) or 95% of all employees.

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#### **Professionalism**

An extensive team of professionals dedicated to prevention, from corporate level to the plants to provide their opinions when undertaking improvement and starting new projects. Experts in working and prevention management conditions that seek best practices and solutions and define the direction of the system.

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#### **Measurement**

Gestamp Health & Safety Indicator (GHSI) is an internal tool designed by us and adapted to the particularities of the company's activity, reaching higher levels of demand than those required by international standards. It enables us to analyse 78 factors equally in all the Group's plants

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#### **Integration**

**Communication**

Collaboration with other corporate departments so that Helath and Safety is another aspect to consider in new projects. Full integration is sought: layout design, machinery and facility purchasing, training, and corporate policies. The Health and Safety team regularly participates in audits and collaborative projects with strategic areas of the Group such as Industry 4.0, Standardisation, Purchasing and Sustainability.

Computer applications and web communities that support the system. The applications allow control of everything related to the GHSI: quartely reviews, audits and reports; while the web communities generate discussion forums and document repositories and share information with all of the Group's plants.

#### RESPONSIBILITY AND FUNCTIONS AT ALL LEVELS

Plants must manage health and safety with the same level of knowledge and standards that they use in their core business.

The model is supported by senior management. Each year a Leadership Meeting is held, where the overall targets for improvement are established based on the Indicator. In addition, the results are submitted to the Board of Directors on a quarterly basis, along with a progress report on the corporate plans and other important matters.

| Group Managers<br>they manage the global numbers<br>for each plant of division.                                     | Image: Person with globe               |
|---------------------------------------------------------------------------------------------------------------------|----------------------------------------|
| Division Managers<br>Overview of the situation. They<br>manage the general criteria.                                | Image: Person with arrows              |
| Plant Managers<br>They are familiar with and<br>manage the factors of set factors<br>without going too much detail. | Image: Person with hardhat and factory |
| H&S and Departament                                                                                                 | Image: Person with hardhat             |

#### **Managers** Detail knowledge of each factor.

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2023

#### GHSI INDICATOR

shared criteria.

**FACTOR**

30%

Severity are (1) Average duration rate (1) Serious accidents (1)

Prevention Management.

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[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

## Different score level Each factor Final score Outcome 79 **RATES WORK CONDITIONS** 30% **3 Factors 42 Factors 34 Factors** Traffic routes (2) Warehouses (6) Fire Protection (4) Production machines (17) Auxiliar machines / facilities (7) Environmental conditions (4) Ergonomic conditions (2) Weighted average

The Gestamp Health & Safety Indicator (GHSI) is a tool that ensures the same standards are applied across all plants in the Group, regardless of their size, production process or country. Thus, it is possible to assess and compare the health and safety performance of each plant using

The 2022 version of the Indicator (GHSI) is composed of 79 factors divided into 3 main blocks: Traditional indicators, Working Conditions and

Between 0 and 100, being 0 the perfect score 40%

## **HEALTH AND SAFETY MANAGEMENT**

Essessments(6) • Safety • Hygiene • Ergonomy • Psicosocial Training (5) Continuous improvement (4) Maintenance (6) Work management (11) Relationships with our environment (2)

#### **Utilities of the indicator**

| I |  |
|---|--|
| I |  |
|   |  |

Accurately assess safety performance based on plant conditions and improvement endeavors that they have undertaken.

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Establish globally know safety standard for Gestamp, that could be utilized as a benchmark for comparison betwen the plants.

![Document](image.png)To reflect in the standard tha "know how" that jas been gathered over the years, as a reference for improvement.

Each factor is weighted differently, depending on the importance or magnitude of the associated risk. In addition, different safety levels are defined in each one. The greater the risk, the higher the weight.

The final score given is a weighted average that ranges from 0 to 100, with 0 being the most favourable situation.

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[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

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Gestamp's own GHSS system allows for the incorporation of minimum mandatory standards in each of the plants regardless of country, legislation or culture. It is a robust system that is implemented across the entire Group, and recognised at all organisational levels. The Gestamp Group has gone another year without recording a fatal accident, which is a milestone for an industrial group.

Taking into account the robustness of GHSS and the organisation's commitment to Health and Safety, in 2022 a decision was made to certify the system under the international standard ISO 45001.

In record time, almost 100% of the Group's plants have achieved ISO 45001 certification through the multisite model (except for the 4 plants located in Russia, due to the war in Ukraine).

This achievement has been possible thanks to having a prior system such as GHSS, fully implemented across the organisation, demonstrating Gestamp's firm commitment to Health and Safety, as well as the continuous work and effort of every team.

Image /page/139/Picture/16 description: The image is a logo for ISO 45001 Occupational Health and Safety. The logo consists of a blue circle with the letters "ISO" in the center. The number "45001" is located at the bottom of the circle. The words "ISO 45001 Occupational Health and Safety" are written around the top of the circle.

Image /page/139/Picture/17 description: A man with a beard and safety glasses is working in a factory. He is wearing a two-tone work shirt with the word "Gestamp" on it, and he has earplugs in his ears. He is holding a power tool in his right hand and is working on a piece of metal. There are chains hanging from the ceiling in the background.

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[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### **Internal auditing systems**

#### FULL ON-SITE PLANT AUDITS EVERY TWO YEARS (2-5 DAYS) QUARTERLY REMOTE AUDITS

When a plant enters the system, a full audit is conducted on site at the plant. In addition to assessing the safety conditions and prevention management in place at the plant, this is used to provide safetyrelated training to the parties that are directly responsible in this regard.

Once it is part of the system, these audits are repeated every two years in order to ensure that the indicator continues to reflect the actual safety situation at the plant. They also allow the Group to verify on-site whether the improvements made and approved remotely each quarter have been consolidated, to refresh safety standards and to get first-hand feedback from the plants.

Face-to-face audits were cancelled during 2020 and 2021 due to the pandemic, and resumed in 2022. Audit rates returned to normal in 2023, with 50% of plants being audited every two years, and despite the prolonged suspension of audits, the system has continued to operate to a satisfactory standard in the Group.

These are audits of factors that the plant aims to improve; they are conducted remotely through the use of an internally developed IT application.

The plants must report their improvements in the first 15 days of each quarter. The improvements are first validated by the Division-level prevention managers, who act as advisors, then move on to the audit phase.

The criteria followed are exactly the same as for full audits and the same auditors review them. The difference is that only the improvements proposed by the plants, which have been validated by their advisors, are audited. To guarantee the use of uniform criteria, there is a guide linked to the indicator that outlines the criteria.

In addition, other documents are also being produced that provide further details on the criteria of certain factors of the indicator, such as hygiene risk management, subcontractor management, working at a height, maintenance of metal shelving and management of lifting devices, to name a few.

828 **FACTORS** reviewed in the year

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[INDEX](#page-1-0)

[1. Letter from the Chairman](#page-2-0)

2023

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[5. Social Dimension](#page-107-0)

[4. Environmental Dimension](#page-59-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### [5. SOCIAL DIMENSION](#page-107-0) [5.1 Talent](#page-108-0) [5.2 Health and Safety](#page-134-0) [5.3 Social Contribution](#page-145-0)

#### CONTINUOUS IMPROVEMENT

One of the keys to the success of the GHSS is the commitment to continuous improvement in all aspects:

- **•** Internal audits and reviews.
- **•** Regular follow-up meetings with local and regional teams.
- **•** Creation of digital resources to develop the most critical topics: accident reports and videos, machine safety standards, technical safety reports and specific management guides.
- **•** Internal communication: publication of catalogue of best practices, annual targets and quarterly reports related to the Indicator, important news items and discussion forums.
- **•** Communication channel open for all Gestamp employees by means of an exclusive email account.
- **•** Active collaboration with corporate departments to raise awareness about and improve the system. Participation in sector associations and forums.
- **•** Comparative analysis activities with other companies.

#### SAFETY ALERTS

Serious accidents and incidents with implications on prevention within the Group are used as an awareness-raising measure.

The investigation carried out by the plant, together with a video or photographs of the event are shared via the prevention web community. This information is completely anonymous. The important thing is not where it happened, but that it happened at a Group work site, and we must prevent the situation from repeating itself in another.

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## Since the launch of the initiative, 36 Safety Alerts have been published with great success.

#### 142

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[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

## 2023 BALANCE

In 2023, while the Frequency Index was down 3%, the Severity Index was up 11%. Gestamp has not recorded any fatal accidents at its facilities since 2017.

| Traditional Indicators  | 2021 | 2022 | 2023 |
|-------------------------|------|------|------|
| Group Frequency Rate1   | 10   | 9    | 9    |
| Direct Employees        | 10   | 9    | 9    |
| Subcontracted Employees | 9    | 10   | 8    |
| Group Severity Rate2    | 0.16 | 0.15 | 0.17 |
| Direct Employees        | 0.17 | 0.16 | 0.17 |
| Subcontracted Employees | 0.09 | 0.13 | 0.12 |

|                             | 2022 |       |       | 2023 |       |       |
|-----------------------------|------|-------|-------|------|-------|-------|
| Indicators                  | Men  | Women | Group | Men  | Women | Group |
| Frequency Rate1             | 11   | 1     | 9     | 10   | 2     | 9     |
| Severity Rate2              | 0,19 | 0,02  | 0,15  | 0,19 | 0,09  | 0,17  |
| Total Accidents3            | 796  | 26    | 822   | 828  | 39    | 867   |
| Direct Employees            | 687  | 22    | 700   | 717  | 33    | 750   |
| Subcontracted Employees     | 118  | 4     | 122   | 111  | 6     | 117   |
| Fatal accidents             | 0    | 0     | 0     | 0    | 0     | 0     |
| Total Occupational Disease4 | 3    | 0     | 3     | 3    | 0     | 3     |
| Direct Employees            | 2    | 0     | 2     | 3    | 0     | 3     |
| Subcontracted Employees     | 1    | 0     | 1     | 0    | 0     | 0     |

#### **Working conditions and prevention management**

According to performance in the previous year and the starting situation, each production plant establishes its action plan with the aim of making improvements.

**Evolution of working conditions and prevention management in 2023 by Division:**

| Division          | Working conditions<br>% improvement | Prevention<br>management<br>% improvement |
|-------------------|-------------------------------------|-------------------------------------------|
| Mexico            | 8%                                  | 31%                                       |
| Mercosur          | 12%                                 | 16%                                       |
| Asia              | -7%                                 | -3%                                       |
| Europe            | 1%                                  | 4%                                        |
| Edscha            | 8%                                  | 14%                                       |
| Germany - Hungary | -6%                                 | -9%                                       |
| USA               | 2%                                  | 6%                                        |
| TTE               | 2%                                  | 3%                                        |
| Group             | 3%                                  | 7%                                        |

In 2023, a group-wide improvement of 3% was achieved in the Working Conditions segment and 7% in Prevention Management.

(1) Frequency Rate: Number of occupational accidents with sick leave and diseases/per 1,000,000 hours worked

(2) Severity Rate: Number of work days (M-F) lost due to occupational accidents or diseases/per 1,000 hours worked

(3) Accidents occurred with sick leave regarding all workers who carry out tasks inherent to or necessary for the activity. TEA workers and outsourced services are included. Does not

include commuting accidents

(4) Occupational disease: contracted as a result of exposure to risk factors inherent in work activity and reported by a doctor.

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[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### [5. SOCIAL DIMENSION](#page-107-0) [5.1 Talent](#page-108-0) [5.2 Health and Safety](#page-134-0) [5.3 Social Contribution](#page-145-0)

# 2023 HIGHLIGHTS

#### **Plan 2025**

Plan 2025 aims to reduce the accident rate by focusing on the highest risk factors, taking into account their severity in the event of an accident occurring. Corporate provides support and monitoring to production plants, focusing on certain factors of the GHSI indicator: specific training, definition and modification of equipment and work sites, machine malfunctions and maintenance.

Corporate and divisional teams work together with production plants to create supporting documents to meet the proposed objectives, and to follow up closely with quarterly meetings to check on the implementation of the factors.

#### Steps taken in 2023:

- **• Plan Launched Globally:** To mark the World Day for Safety and Health, a communication campaign was launched through One Gestamp and material was also provided locally by Corporate.
- **• Corporate publications of assistance:** Guides and procedures were prepared and published for all the factors included in the Plan, except for "Definition of machinery and installations", which is expected to be addressed in early 2024.
- **• Regular meetings between Corporate and Divisions/ Regions to keep track of improvements:** In 2023, a total of 34 meetings were held. Plans are in place to arrange further meetings, the frequency of which depends on the extent to which the improvement is taking effect.

#### **Automated Guided Vehicles (AGVs)**

Gestamp has set up a task force to coordinate the task undertaken by different corporate departments - of replacing forklift trucks with AGVs in the production areas of plants.

On the basis of the work undertaken by the task force, it will be possible to:

- **•** Factor safety criteria into the design of logistics flows, in the case of new projects, or into the adaptation process being undertaken by Operations
- **•** Factor safety criteria into the Industry 4.0-based plant simulation
- **•** Identify and assess current safety criteria and adapt them to new conditions arising from the introduction of the AGVs. They relate to storage, movement of loads and workstation design, all of which respectively have a bearing on the plant layout design.

Image /page/143/Picture/25 description: A woman wearing a navy blue t-shirt with the word "Gestamp" on it, blue gloves, and blue arm sleeves is working with a metal frame. The woman is standing in front of a blue machine. The metal frame is silver and has a rectangular shape with rounded corners. The woman is holding the metal frame with both hands. The woman is looking down at the metal frame.

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[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### **Artificial intelligence**

Gestamp Corporate is analysing various AI-based solutions to increase employee Safety:

**• ErgoIA** is biomechanical software that has been developed by the Biomechanics Institute of Valencia. It uses artificial intelligence to assess ergonomic risks.

The system analyses recorded videos and issues ergonomic risk reports automatically, which reduces the time spent on the assessment of repetitive tasks and unnatural postures by up to 80%.

**• Cameras incorporating AI technology** to help and assist the operation of forklift trucks. Particularly in areas of poor visibility or during reverse manoeuvres.

#### **Safety Radars**

Safety radars can be integrated into most of Gestamp's processes to improve safety levels in:

- **• Access protection:** Prevent access to danger zones.
- **• Machinery reset prevention:** Stop machinery from starting unexpectedly while the operator is in a danger zone.
- **• Anti-collision:** Prevent collisions when machinery is in motion, involving the operator, other machinery or suspended loads.

The radars have been tested in 3 plants across Spain, focusing on different uses, and plans are in place to deploy them at other European plants. The tests at these pilot plants enable us to identify and determine other uses.

Publications are issued and duly updated to inform all other plants of the test results.

#### **Psychosocial Risk Assessment**

Following the addition of the new factor to the group indicator in 2022, psychosocial assessments have been carried out at several plants.

The importance of psychosocial factors for workers' health has been increasingly recognised. Changes in organisations, current globalisation processes and exposure to psychosocial risks have become more frequent and intense, making it appropriate and necessary to identify, assess and control them in order to prevent the associated risks to health and safety at work.

In order to monitor plant implementation more exhaustively and encourage improvement, a new factor has been created to define Gestamp's psychosocial assessment model.

#### **Training**

Various corporate training initiatives have been carried out:

- **• Training for Plant Managers**: The purpose of this training initiative is to involve the Group's Management Team, regardless of level, in Health and Safety management in order to prioritise the resources needed to implement the necessary preventive strategy.
- **• Training for plant health and safety (H&S) professionals:**  Check-lists are created and published for every factor in order to facilitate the simulation/self-audit undertaken by H&S officials in respect of the GHSS factors related to Working Conditions and Prevention Management.

#### **Publications**

Besides the guides relating to the factors included in the 2025 Plan, plants were able to refer to the following documents published in 2023:

- **• New documents:**
- **-** Press Line Safety Standard.
- **-** Works with Risks of Fire.
- **-** New Machinery Directive 2023/1230 Compliance Guide.
- **• Document reviews:**
- **-** Ergonomic Assessment Procedure.
- **-** Matrix Machinery Safety Guide.

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#### [5. SOCIAL DIMENSION](#page-107-0) [5.1 Talent](#page-108-0) [5.2 Health and Safety](#page-134-0) [5.3 Social Contribution](#page-145-0)

#### ANNUAL REPORT 2023

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[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

# 5.3 Social Contribution

## SOCIAL ACTION AT GESTAMP

The commitment to the local communities in which Gestamp is present has always been fundamental to the social strategy of the group, which, as a family company, is committed to the long term. Responding to the needs of society and contributing to the improvement of people's quality of life is essential in order to grow as a company.

Gestamp's social action must reflect its commitment to society and must contribute to generating a positive impact on the communities and environments where it operates.

Gestamp seeks to align its social contribution with its business activity, through medium and long-term social projects in the communities in which it operates, reinforcing trust between those communities and the company, and enhancing its positive contributions.

Gestamp's **[Social Action Policy](https://www.gestamp.com/Gestamp11/media/GestampFiles/Sustainability/Sustainability%20at%20Gestamp/2022_11_07-Politica-de-accion-social_Gestamp.pdf?ext=.pdf)** establishes the strategies followed by the group's social initiatives: commitment to local communities, alignment with local communities and being sustainable over time.

Gestamp collaborates in local initiatives promoted by both economic (business, technology, innovation clusters and associations) and social and environmental organisations (road safety, education, environmental awareness, socio-economic development, among others).

As part of the **ESG Strategic Plan**, objectives have been established in the Social Contribution area with 2025 in mind, linked to the Social Action strategy and to Gestamp's support for the local communities where it has a presence, with the intention of generating a positive impact.

Image /page/145/Figure/19 description: The image shows a table with two columns: Description and Level of achievement. The first row in the Description column is "Reach a minimum annual social action figure (€1.3M)." The corresponding row in the Level of achievement column shows that in 2023, the figure was 1.13M€, and in 2025, the figure was 1.3M€. The second row in the Description column is "Achieve at least 70% annual alignment of the group's global initiatives with the strategic areas of Social Action." The corresponding row in the Level of achievement column shows that in 2023, the alignment was 81.55%, and in 2025, the alignment was 70%. The third row in the Description column is "Conduct socio-economic impact studies in markets where Gestamp operates." The corresponding row in the Level of achievement column shows that in 2023, 1 country was analyzed, and in 2025, 2 countries were analyzed.

Image /page/145/Picture/20 description: In a well-lit classroom setting, a group of approximately ten students, predominantly female, are seated at a long table, attentively listening to a male instructor. The students are dressed in matching blue shirts, suggesting a uniform or team affiliation. They are seated on white chairs, and the table is also white, creating a clean and bright learning environment. Some students have papers or notebooks in front of them, indicating active participation in the lesson. The instructor, positioned at the end of the table, is gesturing with his hands as he speaks, engaging the students in the discussion. The background of the classroom features white walls, large windows with blinds, and various posters or informational displays. In the distance, there is a partial view of what appears to be a car frame or automotive exhibit, adding a unique element to the learning space.

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Image /page/146/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in a dark blue color. To the right of the word is a square containing a stylized graphic, also in dark blue. The graphic consists of two curved lines that start close together and then diverge, with a small circle at the end of one of the lines.

#### [5. SOCIAL DIMENSION](#page-107-0) [5.1 Talent](#page-108-0) [5.2 Health and Safety](#page-134-0) [5.3 Social Contribution](#page-145-0)

## ANNUAL REPORT 2023

Image /page/146/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked on top of each other.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### **Strategic areas of Social Action**

Gestamp's social action is centred around the following three priority areas, with the aim of aligning its social contribution with its business activity and ensuring coherence, while also focusing on providing the maximum positive social impact.

Throughout 2023, an internal communication campaign was carried out to deploy the social action strategy and reinforce the priority areas of action. This deployment has been carried out in collaboration with divisional and regional Human Resources managers and with the involvement of each plant and work centre.

In addition to the three priority areas of Social Action (Education, Mobility and Sustainability), support in humanitarian crises affecting areas where Gestamp has a presence has been included.

#### SOCIAL ACTION POLICY - AREAS OF ACTION

**Gestamp's Social Action Policy establishes priority areas of action aligned with the business, thus providing coherence to the group's social action and maximizing long-term social impact.**

Image /page/146/Picture/17 description: The image shows a graduation cap in blue. The cap is outlined in a darker shade of blue, while the interior is a lighter shade. The tassel is also blue and hangs from the center of the cap.

**EDUCATION AND TRAINING**

Image /page/146/Picture/19 description: The image shows a blue car in a simple, outlined style. The car is facing left and has two visible wheels, two windows, and a roof. The lines are clean and the design is minimalist.

**TRANSPORT**

Image /page/146/Picture/21 description: The image shows a blue outline of a Christmas tree. The tree is composed of three triangular tiers stacked on top of each other, with the bottom tier being the widest and each subsequent tier decreasing in width. The tree is topped with a point. Below the tree is a small, rectangular trunk, also outlined in blue.

**MOBILITY AND ENVIRONMENT**

Image /page/146/Picture/23 description: A person wearing a blue hat, blue jacket, and gray scarf is sitting outside and holding a small white card with writing on it.

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Image /page/147/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in a dark blue color. To the right of the word is a square containing a stylized graphic of two curved lines in white, resembling a swoosh or a stylized letter "C". The square is also in the same dark blue color as the word "Gestamp".

Image /page/147/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked on top of each other.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### EDUCATION AND TRAINING

Gestamp acknowledges that education is the cornerstone for economic and human development, essential for ensuring social well-being. Inclusive education is a human right that improves people's quality of life, facilitates access to decent work and favours their economic progress and that of their families.

Gestamp's Social Action Area promotes initiatives aimed at combating school dropout rates, extracurricular support, equal opportunities and access to education for vulnerable groups.

In addition, emphasis is placed on technical training projects and the promotion of STEAM (Science, Technology, Engineering, Arts and Mathematics) vocations, with a greater focus on those groups that are less represented in these areas of knowledge.

SDGs related to EDUCATION AND TRAINING

Image /page/147/Picture/16 description: The image contains three icons representing Sustainable Development Goals (SDGs). From left to right, the first icon, in red, represents "Quality Education" and features an open book and a pencil. The second icon, also in red, represents "Decent Work and Economic Growth" and shows an upward trending line graph. The third icon, in orange, represents "Industry, Innovation, and Infrastructure" and depicts three interconnected cubes.

Image /page/147/Picture/17 description: A group of approximately 25 children are standing together indoors, likely for a group photo. The children vary in age, ranging from about 7 to 14 years old. They are dressed in casual clothing, including t-shirts, shorts, and jeans. Some of the children are smiling, while others have more neutral expressions. The background is a brightly lit room with a whiteboard on the right side of the frame. There is also some equipment visible in the background, suggesting that the photo may have been taken in a classroom or a workshop setting.

#### **'I Speak Code' Bootcamp**

With the aim of promoting digitalisation and boosting programming among young people, the 'I Speak Code' bootcamp has been created by Code.org and Gestamp. For the second consecutive year, Gestamp is organising this project so that children between the ages of 8 and 14 have the opportunity to learn programming in a practical and fun way.

#### **[Video](https://www.youtube.com/watch?v=jUkLbxAycM0&t=64s  
)**

Image /page/147/Picture/21 description: The image shows statistics related to a program in Spain, specifically in Madrid and Bilbao. There are 110 participants in total. 47% of the participants are girls, while 53% are boys. 95% of the participants continue training.

{148}------------------------------------------------

Image /page/148/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, dark blue font. To the right of the word is a stylized graphic, also in dark blue, that resembles a curved line with a circle at the end.

Image /page/148/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked vertically, with a small space between each line.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### MOBILITY AND TRANSPORT

Gestamp understands that transport is key to economic and social development as it enables the movement of people and goods, promotes the safe movement of people, and allows access to educational centres, healthcare, work, shops and other basic resources.

Road safety and efficient driving initiatives are encouraged within the field of mobility. In addition, it supports projects that understand mobility as a means of progress and that improve the quality of life of vulnerable people, with a special focus on the local communities where the Group is active.

SDGs related to MOBILITY AND TRANSPORT

Image /page/148/Picture/15 description: The image contains two icons related to the United Nations Sustainable Development Goals (SDGs). The first icon, on the left, is green and represents SDG 3: Good Health and Well-being. It features a white heartbeat symbol with a heart. The second icon, on the right, is orange and represents SDG 11: Sustainable Cities and Communities. It depicts a skyline of buildings and a house.

Image /page/148/Picture/16 description: A group of people are standing on some steps holding two blue banners with the word "Gestamp" written on them.

#### **"Ponle Freno" Race Circuit**

Gestamp collaborates with "Ponle Freno", the social platform for Road Safety that for 15 years has been promoting activities in Spain to raise funds for the research and recovery of traffic accident victims.

In 2023, Gestamp has encouraged its employees to participate by covering the cost of the race bibs for the "Ponle Freno" Race Circuit in those places where it is active. Thus, close to 200 employees from Gestamp Aragón, Gestamp Levante, Edscha Santander, Gestamp Toledo and the headquarters in Madrid have worked together in this initiative to improve Road Safety.

Image /page/148/Picture/20 description: The image shows a map icon next to the text "SPAIN: ZARAGOZA VALENCIA SANTANDER MADRID".

182 6 **PARTICIPANTS GESTAMP CENTRES**

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Image /page/149/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in a dark blue color. To the right of the word is a square containing a stylized graphic of a curved line with a circle at the end, also in dark blue.

#### [5. SOCIAL DIMENSION](#page-107-0) [5.1 Talent](#page-108-0) [5.2 Health and Safety](#page-134-0) [5.3 Social Contribution](#page-145-0)

#### ANNUAL REPORT 2023

Image /page/149/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked on top of each other.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### ENVIRONMENT

Gestamp is aware of the great global challenges and risks related to climate change, the deterioration of ecosystems and the scarcity of natural resources that humanity is facing. That is why, through its social action, it wants to contribute to the mitigation of negative impacts on natural resources.

It promotes projects, volunteer activities or donations that seek to generate a positive impact on the environment, taking special care of the areas where Gestamp is active.

The initiatives carried out in this area have been related to the saving and efficient use of energy within the automotive sector; reduction of CO2 emissions; circular economy; waste management; conditioning and cleaning of spaces; efficient water management.

#### SDGs related to MOBILITY AND TRANSPORT **Gestamp Forest - Gestamp Aragón**

Image /page/149/Picture/16 description: The image shows six Sustainable Development Goals (SDGs) icons. From left to right, they are: SDG 6 (Clean Water and Sanitation) depicted by a blue square with a white icon of a water droplet falling into a glass; SDG 7 (Affordable and Clean Energy) depicted by a yellow square with a white icon of a sun with a power button in the center; SDG 12 (Responsible Consumption and Production) depicted by an orange square with a white icon of an infinity symbol with arrows; SDG 13 (Climate Action) depicted by a green square with a white icon of an eye looking at the earth; SDG 14 (Life Below Water) depicted by a blue square with a white icon of a fish swimming under waves; and SDG 15 (Life on Land) depicted by a green square with a white icon of a tree, birds, and land.

Image /page/149/Picture/17 description: A large group of people are standing outside, posing for a picture. They are holding two banners, one with yellow and red stripes and the other with a logo that says "Gestamp". The group is diverse in age and attire, and they are standing on a dirt path with trees in the background.

Gestamp Aragón started this reforestation initiative to regenerate an area near the plant that had been affected by a fire. In the different phases of this project, 5,000 trees have been planted.

By providing follow-up and continuity over time to this initiative, in addition to contributing to improving the natural environment of the area, a significant environmental awareness has been achieved among the plant's employees who have collaborated as volunteers.

Image /page/149/Picture/21 description: The image shows a map icon with a location pin on the left side and the text "SPAIN: GESTAMP ARAGÓN" on the right side. The map icon is blue and white, and the text is blue.

5,000 **TREES REFORESTATION**

**EMPLOYEES AND THEIR FAMILIES AS VOLUNTEERS**

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Image /page/150/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, dark blue font. To the right of the word is a square containing a stylized image of two curved lines that form a circle. The square is also dark blue.

Gestamp is aware of its role as a company and its responsibility to society, especially in the communities in which it operates. For this reason, in cases of humanitarian crises resulting from natural disasters, it collaborates with projects and initiatives that fight

Although the group's Social Action strategy is focused on priority areas, in cases of humanitarian crises, the work centres help to channel the aid and solidarity of employees by organising campaigns dedicated to mitigating the consequences of the

HUMANITARIAN CRISES

social inequality and poverty.

disaster that has occurred.

#### ANNUAL REPORT 2023

Image /page/150/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked vertically, with a small space between each line.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

Image /page/150/Picture/11 description: A group of people are standing under a tent with the text "WCK.org" written on it. The people are diverse in age and ethnicity. Some of them are wearing head coverings. The scene appears to be outdoors, possibly at an event or gathering.

**Collaboration and Solidarity with those affected by the earthquakes in Turkey and Morocco and by Hurricane Otis in Mexico** 

In 2023, several natural disasters occurred in locations close to Gestamp plants. Turkey and Morocco suffered major earthquakes that were very destructive. In both cases, the solidarity and quick reaction of Gestamp's plants was exemplary, especially in the locations closest to the disaster areas.

In addition, at a global level, the corporate Social Action team set up channels of collaboration through the NGO **[World Central](https://wck.org/es-es)  [Kitchen](https://wck.org/es-es)**, so that all Group employees had the opportunity to make donations in a safe manner, with the guarantee that the aid would reach the affected area.

In both cases, Gestamp undertook to contribute the same amount raised by employees, doubling the donation.

Image /page/150/Picture/16 description: The image shows a map icon with a location pin on it, next to the text "Earthquake: TURKEY MOROCCO".

€20,215 €5,152 **TURKEY MOROCCO**

{151}------------------------------------------------

Image /page/151/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in blue. To the right of the word is a blue square containing a white graphic. The graphic consists of two curved lines that start at the bottom left corner of the square and curve upwards and to the right. The lines end in a small circle at the top right corner of the square.

#### [5. SOCIAL DIMENSION](#page-107-0) [5.1 Talent](#page-108-0) [5.2 Health and Safety](#page-134-0) [5.3 Social Contribution](#page-145-0)

## ANNUAL REPORT 2023

Image /page/151/Picture/3 description: The image shows the word "INDEX" in a sans-serif font, with three horizontal lines above it. The lines are of equal length and are stacked vertically, with a small gap between each line. The lines and the word "INDEX" are in a dark teal color, while the background is white.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### PRINCIPLES OF CONDUCT

The following principles of conduct shall guide Gestamp's social action:

Image /page/151/Picture/13 description: The image shows a blue and white icon of two hands clasped together in a handshake. The handshake is surrounded by a few small blue dashes.

**Collaboration:** Gestamp works with institutions, non-governmental organizations, private companies, educational and other entities for the effective development of its social action. Relationships and collaborations with public or private institutions are aimed at combining efforts to support the community.

Image /page/151/Picture/16 description: The image shows a calendar icon with an hourglass in front of it. The calendar has three circles on top, and the hourglass is filled with a blue gradient.

**Long term:** Gestamp's social action initiatives and its relationship with communities, as well as its business activities, are intended to be permanent in the medium and long term.

Image /page/151/Picture/18 description: The image shows a group of three people represented by simple line drawings. The figures are arranged in a cluster, with one figure slightly in front of the other two. All three figures are wearing collared shirts and ties. The lines are blue, and the image has a clean, minimalist style.

**Employee involvement:** social action initiatives provide the opportunity to channel concerns over solidarity and commitment, which is why Gestamp encourages volunteering among its employees.

Image /page/151/Picture/20 description: The image shows a stylized eye icon. The eye is outlined in a dark blue color, and the iris is a lighter blue circle within the eye.

**Ethics and Transparency:** Gestamp takes an ethical and transparent approach to its collaborations with other bodies, so that these collaborations are not exploited for purposes contrary to the applicable legislation at any given time. The Group's established procedures for third party due diligence shall be applied.

![map pin icon](https://raw.githubusercontent.com/google/material-design-icons/master/maps/drawable-xxhdpi/ic_place_24px.png)

**Adapting to local needs:** For every project it undertakes, Gestamp is committed to initiatives that are flexibly adapted to the local needs and demands of the communities in which it operates.

Image /page/151/Picture/24 description: The image shows a blue and purple rocket ship taking off. The rocket ship is angled slightly to the left and has a small window near the top. There are clouds of smoke coming from the bottom of the rocket ship, indicating that it is in motion.

**Leaving an impact:** the ultimate goal of

Gestamp's social action is to create a positive impact on the local communities where it operates and to contribute towards improving people's quality of life, beyond its own business activity.

Image /page/151/Picture/27 description: A group of approximately 30 people are posing for a photo in front of a dark brown wall. The group consists of both men and women, mostly young adults, and they are arranged in a semi-circle, with some kneeling in the front and others standing behind them. To the left of the group, there is a large, light blue teardrop-shaped flag with white designs on it. Next to the flag, there is a white sign with blue writing on it. To the right of the group, there is a small, striped booth with a triangular flag hanging from it. The floor is light gray with blue dotted lines on it.

#### **Collaboration with non-profit organisations**

Transparency in Gestamp's collaboration with Associations and Non-Profit Organisations is essential for the proper functioning of the projects and their sustainability over time.

To monitor and measure the impact of the initiatives that Gestamp carries out, the Business for Social Impact (B4SI) methodology is taken as a reference. Furthermore, in 2023, with the aim of strengthening the impact measurement system, Gestamp once again has the consulting firm Mas Business, from the LBG Group. In this way, a double verification of the measurement of the impact of Social Action is guaranteed.

With the intention of improving impact measurement and better analyzing the social impact of the initiatives carried out by Gestamp, this year the number of beneficiaries of social projects has been incorporated into the reporting campaign. With the initiatives carried out in 2023, a total of 464,827 direct beneficiaries have been impacted.

In 2023, a total of 229 social and non-profit activities have been identified in which the company has worked together with 187 collaborating entities and in which a total of 1,565 employees have participated voluntarily, the total value being of the contribution of 1,126,291.67 euros.

By type of contribution, the majority of activities were made as a monetary contribution (89.6%), followed by contributions in kind (7.7%) through volunteer actions carried out by Gestamp employees. The contribution in kind has represented 2.7% of the contributions.

{152}------------------------------------------------

Image /page/152/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in blue. To the right of the word is a stylized graphic in blue and white, consisting of two curved lines that start from a point and curve upwards and to the right, with a small circle at the end of each line.

# [INDEX](#page-1-0)

#### [1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### MAIN SOCIAL CONTRIBUTION FIGURES (AS PER THE B4SI MODEL) MAIN FIGURES BY SDG (ACCORDING TO B4SI MODEL)

| KEY INDICATORS                            | 2021  | 2022 | 2023    |
|-------------------------------------------|-------|------|---------|
| Number of initiatives                     | 149   | 236  | 229     |
| Employees participating in volunteer work | 2,784 | 808  | 1,565   |
| Project Partners                          | 94    | 147  | 187     |
| Direct beneficiaries                      | -     | -    | 464,827 |

#### MAIN FIGURES BY CONTRIBUTION TYPE (ACCORDING TO B4SI MODEL)

| CONTRIBUTION TYPE | 2021 Financial<br>value (€) | 2021% | 2022 Financial<br>value (€) | 2022% | 2023 Financial<br>value (€) | 2023 % |
|-------------------|-----------------------------|-------|-----------------------------|-------|-----------------------------|--------|
| Money             | 356,932                     | 48%   | 976,905.52                  | 80.7% | 1,009,305.01                | 89.6%  |
| Time              | 365,619                     | 49%   | 97,483.20                   | 8%    | 86,494.80                   | 7.7%   |
| In kind           | 26,325                      | 4%    | 136,704.74                  | 11.3% | 30,491.86                   | 2.7%   |
| Total             | 748,877                     | 100%  | 1,211,093.46                | 100%  | 1,126,291.67                | 100%   |

#### MAIN FIGURES BY AREA OF ACTION (ACCORDING TO B4SI MODEL)

| Area of Action       | No. of Initiatives 2021 | Total Monetary Contribution 2021 | 2021 % | No. of Initiatives 2022 | Total Monetary Contribution 2022 | 2022 % | No. of Initiatives 2023 | Total Monetary Contribution 2023 | 2023 % |
|----------------------|-------------------------|----------------------------------|--------|-------------------------|----------------------------------|--------|-------------------------|----------------------------------|--------|
| Art and Culture      | 1                       | € 200.00                         | 0.03%  | 6                       | € 117,930                        | 10%    | 9                       | € 45,650.00                      | 4.05%  |
| Humanitarian Aid     | 11                      | € 67,812                         | 9.06%  | 14                      | € 105,898                        | 9%     | 16                      | € 29,451.57                      | 2.61%  |
| Social Well-being    | 21                      | € 30,584                         | 4.08%  | 91                      | € 80,012                         | 7%     | 60                      | € 200,461.37                     | 17.80% |
| Economic Development | 6                       | € 167,770                        | 22.40% | 41                      | € 580,036                        | 48%    | 22                      | € 487,307.43                     | 43.27% |
| Education            | 37                      | € 297,156                        | 39.68% | 46                      | € 304,498                        | 25%    | 65                      | € 239,088.95                     | 21.23% |
| Environment          | 17                      | € 53,066                         | 7.09%  | 9                       | € 3,898                          | 0%     | 11                      | € 4,611.95                       | 0.41%  |
| Other                | 34                      | € 27,850                         | 3.72%  | 0                       | € 0                              | 0%     | 12                      | € 20,798.10                      | 1.85%  |
| Health               | 22                      | € 104,434                        | 13.95% | 29                      | € 18,820                         | 2%     | 34                      | € 98,922.30                      | 8.78%  |
| Total                | 149                     | € 748.877                        | 100%   | 236                     | € 1.211.093                      | 100%   | 229                     | € 1,126,291.67                   | 100%   |

| BREAKDOWN BY<br>SUSTAINABLE<br>DEVELOPMENT GOALS                                 | No. of<br>Initiatives<br>2021 | Financial value<br>2021 (euros) | 2021 % | No. of<br>Initiatives<br>2022 | Financial<br>value 2022<br>(euros) | 2022<br>% | No. of<br>initiatives<br>2023 | Financial<br>value 2023<br>(euros) | 2023 % |
|----------------------------------------------------------------------------------|-------------------------------|---------------------------------|--------|-------------------------------|------------------------------------|-----------|-------------------------------|------------------------------------|--------|
| SDG 1. No Poverty                                                                | 9                             | € 8,339                         | 1.1%   | 81                            | € 163,725                          | 14%       | 32                            | € 72,884.49                        | 6.47%  |
| SDG 2. Zero Hunger                                                               | 7                             | € 16,381                        | 2.2%   | 0                             | € 0                                | 0%        | 10                            | € 4,913.23                         | 0.44%  |
| SDG 3. Good Health and<br>Well-being                                             | 34                            | € 149,662                       | 20.0%  | 39                            | € 24,006                           | 2%        | 52                            | € 125,785.77                       | 11.17% |
| SDG 4. Quality Education                                                         | 41                            | € 288,150                       | 38.5%  | 51                            | € 387,090                          | 32%       | 52                            | € 198,166.95                       | 17.59% |
| SDG 5. Gender Equality                                                           | 5                             | € 15,447                        | 2.1%   | 3                             | € 1,826                            | 0%        | 6                             | € 7,112                            | 0.63%  |
| SDG 6. Clean Water and<br>Sanitation                                             | 2                             | € 774                           | 0.1%   | 0                             | € 0                                | 0%        | 2                             | € 1,021.50                         | 0.09%  |
| SDG 7. Affordable and<br>Clean Energy                                            | 3                             | € 2,331                         | 0.3%   | 1                             | € 45,000                           | 4%        | 1                             | € 450                              | 0.04%  |
| SDG 8. Decent Work and<br>Economic Growth                                        | 14                            | € 129,545                       | 17.3%  | 49                            | € 583,738                          | 48%       | 41                            | € 563,239.37                       | 50.01% |
| SDG 9. Industry,<br>Innovation and<br>Infrastructure                             | 2                             | € 55,360                        | 7.4%   | 0                             | € 0                                | 0%        | 2                             | € 19,980                           | 1.77%  |
| SDG 10. Reducing<br>Inequalities                                                 | 0                             | € 0                             | 0.0%   | 1                             | € 760                              | 0%        | 4                             | € 90,039.45                        | 7.99%  |
| SDG 11. Sustainable Cities<br>and Communities                                    | 7                             | € 21,695                        | 2.9%   | 3                             | € 1,400                            | 0%        | 3                             | € 1,320.20                         | 0.12%  |
| SDG 12. Responsible<br>Consumption and<br>Production                             | 4                             | € 28,980                        | 3.9%   | 0                             | € 0                                | 0%        | 2                             | € 434                              | 0.04%  |
| SDG 13. Climate Action                                                           | 6                             | € 2,635.95                      | 0.4%   | 8                             | € 3,549                            | 0%        | 3                             | € 5,497.85                         | 0.49%  |
| SDG 14. Life below water                                                         | 0                             | 0,00                            | 0.00%  | 0                             | € 0                                | 0%        | 0                             | 0,00                               | 0,00%  |
| SDG 15. Life on Land                                                             | 4                             | € 18,366                        | 2.5%   | 0                             | € 0                                | 0%        | 0                             | 0,00                               | 0.00%  |
| SDG 16. Peace, Justice<br>and Strong Institutions                                | 0                             | € 0                             | 0%     | 0                             | € 0                                | 0%        | 5                             | € 2,584.65                         | 0.23%  |
| SDG 17. Revitalising<br>the Global Partnership<br>for Sustainable<br>Development | 11                            | € 11,206                        | 1.5%   | 0                             | € 0                                | 0%        | 6                             | € 21,413.32                        | 1.90%  |
| Total                                                                            | 149                           | € 748,877                       | 100%   | 236                           | € 1,211,093                        | 100%      | 229                           | 1,126,291.68                       | 1.02%  |

{153}------------------------------------------------

Image /page/153/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in a dark blue color. To the right of the word is a square containing a stylized graphic of a curved line with a circle at the end, also in dark blue.

Image /page/153/Picture/3 description: The image shows a symbol consisting of three horizontal lines stacked on top of each other, with the word "INDEX" written below the lines. The lines and the text are in a blue color.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

# PARTICIPATION IN ASSOCIATIONS AND ORGANISATIONS

Gestamp endeavours to promote the industry and local development from various angles. Putting this commitment into practice, the company is actively involved in a range of initiatives geared towards social, economic and technological issues, in the form of business clusters and associations.

Establishing alliances and fostering understanding between the different actors in society and the sector is fundamental to creating a sustainable business ecosystem. This is how Gestamp sees it, and its participation in organisations and institutions is very active. Always with the aim of promoting socio-economic development, innovation, quality and contributing to the dissemination of knowledge in the automotive sector.

In December 2023, Francisco J. Riberas, Executive Chairman of Gestamp, renewed his position for two more years as Chairman of the Spanish Association of Automotive Suppliers (SERNAUTO), a position he has held since 2021, with the aim of strengthening the competitiveness of component manufacturers and continuing to consolidate the Spanish supplier industry both inside and outside Spain.

The commitment to innovation has always been a constant at Gestamp and is reflected in its participation in organisations such as the University Institute for Automotive Research and the COTEC Foundation. Gestamp is constantly innovating in order to strengthen its position as a technological leader and to guarantee the sustainability, efficiency and competitiveness of its production processes and products.

Knowledge transfer is also a priority in the business model, where the Group collaborates in various educational and dual vocational training programmes.

Participation in technology partnerships helps in the process of transferring knowledge of a new technology, which is the usual mechanism by which the organisation adapts to the requirements of new projects. These new projects also end up fostering socio-economic development as a whole.

Gestamp holds the presidency of the Spain-China Council Foundation and the vice-presidency of the main automotive clusters, and actively participates on the boards of directors of the main bilateral chambers of commerce.

The institutional relations area seeks to show different institutional audiences Gestamp's contribution to society, collaborating in the development of public policies and regulations as a corporate citizen, with ethics, transparency, integrity and professionalism in our institutional dialogue.

Furthermore, Gestamp is registered in the EU Transparency Register and abides by the rules and principles set out in Annex I of the Interinstitutional Agreement.

Image /page/153/Picture/21 description: A close-up shot depicts a stack of hands, creating a sense of unity and teamwork. The hands are various shades of brown, suggesting a diverse group of people. The lighting is soft, highlighting the texture and contours of the skin. The background is blurred, drawing focus to the hands as the central subject.

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Image /page/154/Picture/0 description: The image shows the word "Gestamp" in a bold, sans-serif font, colored in a dark blue. To the right of the word is a square containing a stylized graphic, also in dark blue. The graphic appears to be a curved line with a circle at the end, suggesting a connection or network symbol.

Image /page/154/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked on top of each other.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### BILATERAL CHAMBERS OF COMMERCE

**•** Spanish Chamber of Commerce in the UK **•** French Chamber of Commerce in Spain **•** Spanish Chamber of Commerce in Japan **•** Spain-Russia Council Foundation **•** Spain-India Council Foundation **•** Polish-Spanish Chamber of Commerce **•** Spain-China Business Advisory Council **•** Moroccan-Spain Economic Council (CEMAES)

**•** Spain-China Council Foundation **•** Spain-US Council Foundation **•** Spain-Japan Council Foundation

SPANISH REGIONAL CLUSTERS

**•** Automotive Cluster of Aragon (CAAR) **•** Automotive Cluster of Cantabria (GIRA)

**•** Automotive Cluster of the Community of Valencia (AVIA) **•** Automotive Company Cluster of Galicia (CEAGA) **•** Automotive Industry Cluster in Catalonia (CIAC) **•** Automotive Forum of Castilla y León (FaCyl)

**•** Basque Automotive Cluster

**•** German-Spanish Chamber of Commerce (AHK) **•** British Chamber of Commerce in Spain

**•** Brazilian-Spanish Chamber of Commerce (CCBE)

- INDUSTRIAL ASSOCIATIONS
- **•** SERNAUTO (Spanish Association of Automotive Suppliers)
- **•** ASEPA (Spanish Association of Automotive Professionals)
- **•** STA (Association of Automotive Engineers)
- **•** Electric Vehicle Industry Association (AIDIVE)
- **•** INSIA (University Institute of Automobile Research)
- **•** OESA (Original Equipment Suppliers Association)
- **•** INA (National Automobile Parts Industry) in Mexico
- **•** UPM (Unió Patronal Metallúrgica)
- **•** Foment de Treball
- **•** Logistop
- **•** AEC (Spanish Quality Association)
- **•** AIC. Automotive Intelligence Center
- **•** Industry 4.0 Chair of the Comillas Pontifical University

#### ECONOMIC ASSOCIATIONS

- **•** Círculo de Empresarios (Businesspersons Association)
- **•** Spanish Exporters and Investors Club
- **•** IADG (Atlantic Institute of Governance)
- **•** IEF (Family Business Institute)
- **•** CEOE (Spanish Confederation of Business Organisations)
- **•** CCE (Spanish Chamber of Commerce)
- **•** COTEC Foundation for Innovation

#### PROFESSIONAL ASSOCIATIONS

- **•** AED (Spanish Association of Executives)
- **•** APD (Association for Management Progress)
- **•** Corporate Excellence Centre for Reputation Leadership
- **•** DIRCOM (Association of Communication Managers)
- **•** CPOnet. Social Network of Purchasing Professionals
- **•** AERCE (Spanish Association of Purchasing, Contracting and Procurement Professionals)
- **•** Tecnalia

#### ESG ASSOCIATIONS:

- **•** Forética (Corporate Social Responsibility association for businesses and professionals)
- **•** Spanish Network of the United Nations Global Compact
- **•** Business for Social Impact Steering Committee
- **•** Spanish Business Council for Sustainable Development
- **•** CEOxlaDiversidad (promoted by the Adecco Foundation and CEOE)
- **•** CSR Europe
- **•** LBG Spain
- **•** IESE Institute for Sustainable Leadership

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ANNUAL REPORT 20**23** | GESTAMP [INDEX](#page-1-0)

# <span id="page-155-0"></span>06 Governance

- 6.1 [Responsible Supply Chain](#page-156-0)  [Management](#page-156-0)
- 6.2 [Good Governance and Ethics](#page-162-0)

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<span id="page-156-0"></span>Image /page/156/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in a dark blue color. To the right of the word is a square containing a stylized graphic, also in dark blue. The graphic appears to be a curved line with a circle at the end, suggesting a connection or technology symbol.

Image /page/156/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked on top of each other.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

# 6.1 Responsible Supply Chain Management

The automotive sector is characterized by having increasingly complex supply chains that require robust internal systems and procedures to manage suppliers, subcontractors and collaborators in a global and responsible manner.

Through responsible management of the supply chain, Gestamp contributes to the achievement of business objectives and customer orientation, transferring the highest ESG standards to its suppliers of goods and services.

Image /page/156/Picture/14 description: The image shows the following numbers and symbols: "€9,815M", "19,555", and "94%". All the numbers and symbols are in light blue color.

#### **PURCHASES SUPPLIERS WITH INVOICING LOCAL SUPPLIERS**

Local suppliers are those that supply plants in their own country.

As a result of the double materiality analysis carried out, some Impacts, risks and opportunities linked to the material topic **Responsible supply chain** have been identified:

#### IMPACTS

Increase and assurance of best practices in Environmental, Social and Governance matters among suppliers (sustainable practices in circular economy, decarbonization, biodiversity, non-discrimination, equality, Human Rights, transparency, among others).

Guarantee of optimal working conditions, and consequently, the quality of life of workers, as a result of adequate compliance with the requirements of Human Rights.

Degradation of local habitats due to the extraction of raw materials and as a result of poor waste management and depletion of natural resources by the supply chain.

Image /page/156/Picture/22 description: The image shows three icons. The first icon is a green bar graph. The second icon is a green pyramid. The third icon is a gauge with a yellow needle.

N/A

N/A

RISKS

Lack of alignment of corporate policies applied to the supply chain with new regulations.

Image /page/156/Picture/25 description: The image contains two icons. The first icon is a triangle divided into three horizontal sections, with the bottom two sections colored yellow. The second icon is a speedometer with a needle pointing to the green section of the gauge.

Lack of compliance in the supply chain with ESG requirements for suppliers, which can lead to non-compliance that can affect the company.

#### OPPORTUNITIES

Competitive improvement resulting from the acquisition of sustainable materials requested by customers and scarce in the market.

Image /page/156/Figure/29 description: The image contains two icons. The first icon is a triangle divided into three horizontal sections. The triangle is outlined in blue, and the three sections are yellow. The second icon is a gauge with a needle pointing to the right. The gauge is yellow and white, and the needle is blue.

Image /page/156/Picture/36 description: The image shows two sections, 'Severity/Magnitude' and 'Probability', each with three levels: Low, Medium, and High. For Severity/Magnitude, 'Low' is represented by a triangle with a red top section, 'Medium' by a triangle with a yellow top section, and 'High' by a triangle with a green top section. For Probability, 'Low' is represented by a gauge with a green needle pointing to the left, 'Medium' by a gauge with a yellow needle pointing to the center, and 'High' by a gauge with a red needle pointing to the right.

Medium

J. Linde

N/A Impact considered to exist (actual) which is why probability is disregarded.

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**4 training programs**

**100%**

**Done**

**Developed audit scheme.**

## ANNUAL REPORT 2023

In order to minimize these impacts and negative effects on the company and maximize positive effects and impacts, Gestamp has the following ESG objectives:

|                             | Description                                       | Level of achievement                                                              |
|-----------------------------|---------------------------------------------------|-----------------------------------------------------------------------------------|
| INDEX                       | Suppliers evaluated on ESG                        | 2023<br>32.1%                                                                     |
|                             |                                                   | 2025<br>70%<br>of the suppliers evaluated (of the total registered questionnaire) |
| 1. Letter from the Chairman | Suppliers with good ESG performance               | 2023<br>67.7%                                                                     |
|                             |                                                   | 2025<br>70%<br>of suppliers evaluated with >50 points in ESG                      |
| 2. Gestamp Group            | ESG training for suppliers with low ESG scores    | 2023<br>0                                                                         |
|                             |                                                   | 2025                                                                              |
| 3. ESG Perspective          | ESG criteria included in supplier audits          | 2023<br>Dev                                                                       |
|                             |                                                   | 2025                                                                              |
| 4. Environmental Dimension  | ESG specifications included in supplier contracts | 2023<br>Work is underway on its development.                                      |
|                             |                                                   | 2025                                                                              |
| 5. Social Dimension         |                                                   |                                                                                   |

#### **[2025 ESG Plan](https://www.gestamp.com/Gestamp11/media/GestampFiles/Sustainability/Estrategia%20ESG/ESG-PLAN-2025-GESTAMP.pdf?ext=.pdf)**

[6. Governance](#page-155-0)

Image /page/157/Picture/8 description: A high-angle shot captures a group of people gathered around a wooden table, engaged in what appears to be a business meeting or collaborative project. The table is strewn with an assortment of items, including laptops, tablets, notebooks, pens, and even a small potted plant, suggesting a working environment. Several individuals are actively using the laptops and tablets, which display screens with data or applications. One person is in the middle of a handshake with another person. The composition of the shot emphasizes the collaborative nature of the group, with the arrangement of people and objects creating a sense of unity and shared purpose.

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Image /page/158/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in a dark blue color. To the right of the word is a square containing a stylized graphic, also in dark blue. The graphic consists of two curved lines that start close together and then diverge, with a small circle at the end of one of the lines.

## ANNUAL REPORT 2023

Image /page/158/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked vertically, with a small space between each line.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### **Management and evaluation of suppliers**

The General Purchasing Department is responsible for establishing corporate supply chain management systems, procedures and standards applicable to the entire Group. In addition, purchasing managers, located in the Plants, Divisions and Corporation, ensure compliance with Gestamp principles, guaranteeing compliance with legal, quality and sustainability requirements.

#### SUPPLIER MANAGEMENT SYSTEM

Gestamp has **[General Conditions for the purchase of goods and contracting of services](https://purchasingarea.gestamp.com/script/login/ges/spa/docs/2016_05_31_GTC__ES__EXECUTION_VERSION.PDF)** for the formalization of orders, delivery, execution, billing, rights and responsibilities that include, among others, compliance with the Principles of the United Nations Global Compact and the **[ESG](https://gestamp.com/getmedia/80e18c67-1b8a-4996-bc10-de77c4bcdedd/REQUISITOS-ESG-PARA-PROVEEDORES)  [Requirements for suppliers](https://gestamp.com/getmedia/80e18c67-1b8a-4996-bc10-de77c4bcdedd/REQUISITOS-ESG-PARA-PROVEEDORES)**.

These requirements will be mandatory for all Gestamp Group suppliers and their employees, as well as subcontractors, and include all ethical, human rights and environmental protection issues that suppliers must comply with and also demand from their own supply chain , with the objective of establishing the highest ethical, social and environmental standards for the entire value chain regardless of its country of origin or sector.

The company also has a purchasing procedure that ranges from registration and approval, management of tenders and negotiation of the same for the award and contracting of services and products, for which its premises are:

- **•** Hire to ensure productive sourcing and supply chain effectiveness.
- **•** Value innovation and quality and operational excellence in each award.
- **•** Supplier selection based on the principles of competition, objectivity and professionalism.
- **•** Award according to the criteria of need, suitability and quality.
- **•** Ensure the traceability of the Purchasing process and the fulfillment of the commitments made.
- **•** Transfer the highest environmental, social and ethical standards to suppliers.

Image /page/158/Picture/23 description: Two people are shaking hands. One person is wearing a white sweater, and the other person is wearing a gray sweater. The background is blurry and white.

#### SUPPLIERS' PORTAL

Global supplier management is carried out through the Gestamp Supplier Portal, this being a module of the common tool to manage purchases of all the Group's companies.

Additionally, at the local level, each production plant maintains a close relationship with its surrounding suppliers, based on trust and commitment.

The company effectively and consistently evaluates supplier performance and ensures that the supply chain meets automotive requirements and legal and regulatory standards, both local and international, key to ensuring business continuity.

Specifically, with the objectives of:

- **•** Monitor the supplier's performance in a systematic and objective manner.
- **•** Comply with the legal and regulatory requirements of the sector, both locally and internationally and verify regulatory compliance by suppliers.
- **•** Achieve greater transparency in the supply chain, both for direct and indirect material suppliers.
- **•** Facilitate risk management and product procurement activities.
- **•** Ensure the sustainability of the business, that of clients and suppliers.

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2023

#### **New purchasing model**

into account in decision-making.

During 2023, the new Purchasing system for registering suppliers has been deployed in all companies.

This global tool provides greater standardization and control over Purchasing processes. Furthermore, for the pre-homologation and approval of suppliers, this system is integrated with another risk assessment platform that guarantees that the supplier risk assessment criteria are taken

PROCESO DE GESTIÓN DE PROVEEDORES | DESCRIPCIÓN DE HOMOLOGACIÓN Y EVALUACIÓN DE RIESGOS

[INDEX](#page-1-0)

[1. Letter from the Chairman](#page-2-0)

#### [2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

With the implementation of the new purchasing system and risk assessment platform, a base of 10,000 suppliers, both new and existing in the corporation, has been re-evaluated.

#### METHODOLOGY RESULTS PHASES **•** Once a supplier is registered on the Supplier Portal the supplier information is automatically sent to the Supplier Homologation and Risk System (Gosupply). **•** Based on the Purchasing Material Structures linked to the supplier the SHRS can establish the type of homologation that needs to be applied. **•** Go Supply establishes homologation type based on material structure: standard or extended **•** Go Supply establishes risk assessment group based on material structure, QA panel and supplier criticality: basic, advanced, 180 or 360 **•** Apart from basic suppliers all are contacted by GoSupply. Supplier is granted access to GoSupply to provide all information **•** Gosupply team validates the provided information and documents and adds external source information. GoSupply checks homologation criteria and calculates risk assessment score **•** Gestamp validates qualification / disqualification proposal based on risk assessment score and defines contingency or mitigation plans if needed. **•** Homologation and risk assessment are continuous processes, constantly updated. Gestamp works with its suppliers to develop their ESG performance, with the development of training for suppliers being one of its objectives for 2025 as a fundamental part of its commitment. Supplier registers in Ariba Homologation and Risk assessment group assignment Data gathering and validation Risk score internal validation and treatment: release strategy 1 2 3 4 10,000 14% 32.06% 94% 403 3,060 vs 3,530 86% 13.24% 664 174 23% 54% 9% **suppliers evaluated of suppliers evaluated on ESG with respect to the total billing of registered suppliers local suppliers Number of suppliers with ISO 14001 New registered suppliers have obtained a score above 50 points of total turnover of registered suppliers 2023 2022 Basic approval Extended approval (of the total evaluated in ESG) strategic suppliers Number of suppliers with ISO 45001**  Advanced 180 360

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Image /page/160/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in a dark blue color. To the right of the word is a stylized graphic, also in dark blue, that resembles a curved line with a circle at the end.

Image /page/160/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked vertically.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### RISK MANAGEMENT AND SUPPLIER APPROVAL

This supplier management system makes it possible to establish a supplier risk profile and evaluate whether the supplier is suitable to work with Gestamp in a possible award and makes it possible to have the necessary visibility to react quickly and efficiently to uncertainty and/or changes in markets.

In order to have visibility to react quickly and efficiently to any uncertainty or change in the market, different approval factors are considered depending on the type of supplier.

In addition to the compliance requirements: acceptance of the general purchasing conditions and the data protection policy, there are other criteria that determine the supplier's risk level:

- **•** Financial requirements: related to economic solvency.
- **•** Regulatory compliance requirements: issues related to corruption practices, money laundering or sanctions detected through a questionnaire to be completed by the supplier, screening of news linked to the supplier and its subsidiaries, as well as validation of sanctions and adverse media through an external source (Dow Jones)
- **•** Quality requirements: acceptance of the quality manual, certifications, etc.
- **•** ESG requirements:

All suppliers must accept the ESG Supplier Requirements to ensure they comply with Gestamp standards for ethics, human rights and environmental protection.

Depending on the type of products or services supplied, the following requirements must be met:

- **-** Subcontracting suppliers must provide ISO 14001 certification.
- **-** Direct material suppliers who physically deliver goods must report Conflict Minerals templates.
- **-** Suppliers of chemical products must comply with the European REACH regulations.

Additionally, there are specific questions that suppliers in the following countries must complete:

- **-** US suppliers must respond to Diversity questions, such as identifying minority businesses, women-owned businesses, or veteran-owned businesses.
- **-** Suppliers in Australia are asked about their relationship with the indigenous Australian population.
- **-** UK suppliers must respond to specific questions about slavery and human trafficking.
- **•** IT requirements: cybersecurity questionnaire.
- **•** Geopolitical Requirements: aspects of the supplier's location are taken into account based on armed conflicts, socioeconomic variables, credit scores and tax havens.

#### **ESG Risk Assessment**

All suppliers regardless of their classification are subject to an automatic ESG risk assessment based on international standards from reference organizations; depending on your sector and geographic scope.

In addition to this automatic evaluation, the platform includes a supplier self-assessment questionnaire made up of questions on ethical, social and environmental issues that allows, by answering and uploading evidence, to assign each supplier a rating of its actual ESG performance.

This questionnaire includes specific questions on diversity and inclusion and conflict minerals for those suppliers in geographies or sectors where these issues are most relevant.

Since its implementation began at the end of 2022, 32.06% of registered suppliers have been evaluated and 13.24% have achieved a score >50 points out of 100.

With the aim of helping suppliers improve their sustainability performance and therefore their ESG assessment, training options on specific ESG topics will be made available to suppliers during 2024.

There is a Purchasing Risk Committee in charge of determining whether the supplier should be discarded or determining what contingency actions should be taken.

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Image /page/161/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, dark blue font. To the right of the word is a square containing a stylized graphic of curved lines in white, set against a dark blue background.

**Quality in the supply chain**

level and at the corporate level.

The quality of the final part depends, to a large extent, on the quality of the goods and services provided by its raw material and component suppliers. For this reason, Gestamp qualifies its suppliers following quality criteria both at the production plant

Annually, in-person quality audits are carried out on some suppliers of direct material and subcontracting of manufacturing processes with the aim of controlling and monitoring their ability

to comply with Gestamp's requirements and standards.

complies with IATF 16949 and VDA standards.

corresponding action plan was required.

improvement programs.

These audits are prioritized according to supplier risk, which is assessed using a risk matrix based on an internal model that

During fiscal year 2023, 170 in-person audits were carried out on suppliers, of which 42% obtained an optimal result (score A), 52% obtained an average result with aspects to improve (score B) and 6% did not comply with Gestamp standards, for which the

Of suppliers that have been audited more than once during the last two years, 55% obtained a better rating in their last audit.

When deemed necessary, Gestamp requests certain suppliers to participate in improvement programs. During these, suppliers must implement an action plan approved by Gestamp with the aim of improving the quality of both the product and the service provided. In 2023, 27 different suppliers participated in

### ANNUAL REPORT 2023

Image /page/161/Picture/3 description: The image shows three horizontal lines stacked on top of each other, with the word "INDEX" written below them. The lines are dark blue, and the word "INDEX" is also dark blue.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### **Responsible purchase of raw materials**

Gestamp has had a Conflict Minerals Policy since 2014 according to which its suppliers must comply with the laws relating to the responsible sourcing of minerals (Dodd Franck Act and EU Regulation 2017/821), apply and carry out legally required investigations in relation to minerals from conflict zones and if any impact is identified, report and implement actions to find alternative sources of supply for the affected minerals as soon as possible.

#### CONFLICT MINERALS

Gestamp has a **[Conflict Minerals Policy](https://www.gestamp.com/Gestamp11/media/GestampFiles/Sustainability/Politics/EN/Conflict-Minerals-Policy-FINAL.pdf?ext=.pdf)** through which it follows the recommendations of the Responsible Minerals Initiative and the OECD Due Diligence Guide for responsible supply chains of minerals from conflict-affected and high-risk areas.

In order to identify and evaluate possible supply chain risks related to human rights violations, direct material suppliers are requested to complete the Conflict Minerals Reporting Template for tin, tantalum, tungsten and gold and the Extended Minerals Reporting template for cobalt and mica. In this way, when required by any interest group (mainly clients or regulatory authorities), you will have all the information about your management.

Image /page/161/Picture/16 description: The image shows an aerial view of a Gestamp factory building with solar panels on the roof. The building is made of metal and has a blue and white striped exterior. The Gestamp logo is visible on the side of the building. In the background, there is a mountain range and a clear blue sky.

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#### ANNUAL REPORT 2023

# [INDEX](#page-1-0)

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

# 6.2 Good governance and ethics

## GOOD GOVERNANCE

#### **Shareholding Structure**

As of the date of this Report, in accordance with the data recorded in the official register of the National Securities Market Commission (CNMV), the current shareholding structure of Gestamp Automoción S.A. (hereinafter, "**Gestamp**" the "**Company**" or the "**Group**") is as follows:

**•** Acek Desarrollo y Gestión Industrial, S.L. ("**Acek**") holds 138,545,768 shares, representing 24.07% of the Company's total share capital.

**•** Gestamp 2020, S.L. ("**Gestamp 2020**") holds 288,332,760 shares, representing 50.10% of the Company's total share capital. Acek holds 75% of the share capital of Gestamp 2020, while Mitsui & Co. Ltd. holds the remaining 25%.

**•** The rest of the share capital, 25.83%, is free float.

All shares belong to a single class and series and provide their owners with the same rights and duties.

Image /page/162/Picture/19 description: A group of people are gathered around a table, looking at documents and pointing at them. The people are wearing business attire, and the table is in an office setting. There are pencils in a glass on the table.

Image /page/162/Figure/20 description: This image shows a pie chart with the following data: ACEK is 50.10% and 75%, MITSUI & CO. is 25%, FAMILIA RIBERAS is 24.07%, and FREE FLOAT is 25.83%.

FAMILIA RIBERAS

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Image /page/163/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in a dark blue color. To the right of the word is a stylized graphic, also in dark blue, that resembles a curved line with a circle at the end.

Image /page/163/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked on top of each other.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### **Corporate Governance System**

Transparency, commitment, ethics, diversity and sustainability: these are the values that we focus on to strengthen the bonds of trust with our stakeholders.

The double materiality assessment performed by Gestamp in 2023 identified, in relation to **Good Governance**, the following impact, risk and opportunity (IROs):

#### IMPACT

#### RISKS

Operational inefficiencies in management arising from a corporate governance structure or practices that are not aligned with the established principles and standards of good governance.

Push for decision-making focused on promoting the sustainability of the company as a result of a clear definition of ESG in the company (e.g. definition of

sustainability committee and commission, roles and responsibilities).

Image /page/163/Picture/18 description: The image contains two icons. The first icon is a blue triangle with two horizontal yellow bars inside. The second icon is a speedometer with a green section and a blue needle pointing to the green section.

N/A

OPPORTUNITIES

To ensure a diverse mix of profiles and skills at Board level that encourages better strategic decision-making.

Image /page/163/Picture/21 description: The image contains two icons. The first icon is a blue-outlined triangle with three horizontal green bars inside, forming a pyramid shape. The second icon is a yellow semi-circle.

| Severity/Magnitude     | Probability                                                                      |
|------------------------|----------------------------------------------------------------------------------|
| Image: Low severity    | Image: Low probability                                                           |
| Image: Medium severity | Image: Medium probability                                                        |
| Image: High severity   | Image: High probability                                                          |
|                        | N/A Impact considered to exist (actual) which is why probability is disregarded. |

Image /page/163/Picture/23 description: The image shows the entrance to a building with the word "Gestamp" written in blue letters above the door. The door is framed with a light wood trim and has a dark blue accent above it. The door itself is dark gray and has glass panels. The wall is white.

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Image /page/164/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in blue. To the right of the word is a blue square containing a white graphic that resembles a stylized letter "G" or a curved line with a circle at the end.

[INDEX](#page-1-0)

[1. Letter from the Chairman](#page-2-0)

To properly manage these IROs, our 2025 ESG Plan sets out the following objectives that seek to improve the company's performance in this area:

| Description                                                              | Level of achievement                                                                                                |
|--------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------|
| Women on the Board of Directors                                          | 2023 30.7%<br>2025 40% of women                                                                                     |
| ESG training for the Board of Directors                                  | 2023 ESG training programs have been developed in 2023.<br>2025 Done <span style="font-size: large;">✓</span>       |
| Assessment and management of ESG risks with our Sustainability Committee | 2023 ESG risks have been included in the corporate risks map.<br>2025 Done <span style="font-size: large;">✓</span> |

**[2025 ESG Plan](https://www.gestamp.com/Gestamp11/media/GestampFiles/Sustainability/Estrategia%20ESG/ESG-PLAN-2025-GESTAMP.pdf?ext=.pdf)**

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

Image /page/164/Picture/10 description: The image shows a sign with the word "Gestamp" and a logo on it. Below the word "Gestamp", there is a text that says "WORKING FOR A SAFER AND LIGHTER".

To manage these impacts, risks and opportunities and to fulfil its ESG strategy, Gestamp's Corporate Governance is currently based on the following **[corporate rules](https://www.gestamp.com/Investors-Shareholders/Corporate-Governance/Corporate-Policies)**, all of which are available on our website:

- **•** Company Articles of Association
- **•** Regulations of the General Shareholders' Meeting
- **•** Regulations of the Board of Directors
- **•** Code of Conduct
- **•** Internal Code of Conduct with regard to the Securities Market

#### **•** Specific **[corporate policies](https://www.gestamp.com/Investors-Shareholders/Corporate-Governance/Corporate-Policies)**

The Corporate Governance rules are periodically reviewed and updated. The contents are modelled and based on our commitment to the Best Corporate Governance Practices, business ethics and social responsibility in all areas of action.

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## ANNUAL REPORT 2023

[INDEX](#page-1-0)

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

Image /page/165/Picture/11 description: A man in a suit is speaking at a conference. He has gray hair and is wearing a dark suit with a patterned tie. He is standing behind a microphone and has his hands clasped in front of him. There is another man in a suit to the left of the speaker.

#### **Governing Bodies**

To meet commitments to transparency and business ethics, the Company implements its rules of corporate governance through the following Governing Bodies, which distinctly undertake strategy and supervision, and administration and management duties.

#### ANNUAL GENERAL MEETING

The General Shareholders' Meeting is our highest decision-making body where all duly convened shareholders gather to discuss and decide on, subject to the majority requirements applicable in each case, matters falling within its scope of authority.

#### **Duties**

The General Shareholders' Meeting decides on matters within its scope of authority in accordance with the provisions of the Law and our corporate rules, and it is responsible for the duties set out in Article 5 of Gestamp's **[Regulations of the General](https://www.gestamp.com/Gestamp11/media/GestampFiles/Shareholders%20Investors/Corporate%20Governance/Corporate%20Rules/Reglamento%20del%20Consejo/2021_03_29-Reglamento-CdA-(Modificacion-Comision-ESG).pdf?ext=.pdf)  [Shareholders' Meeting](https://www.gestamp.com/Gestamp11/media/GestampFiles/Shareholders%20Investors/Corporate%20Governance/Corporate%20Rules/Reglamento%20del%20Consejo/2021_03_29-Reglamento-CdA-(Modificacion-Comision-ESG).pdf?ext=.pdf)**.

#### **Rights of shareholders**

Shareholders are entitled to examine all the documents related to the General Shareholders' Meeting as of the date on which the Meeting is called, at the company's registered office or via the Gestamp website.

Moreover, between the publication date of the notice of the General Shareholders' Meeting and the fifth day prior to the date scheduled for the meeting on first call, shareholders may request in writing any reports or clarifications they deem necessary, or draw up in writing any questions they deem pertinent, concerning the matters included on the agenda.

In addition, a number of shareholders representing at least three percent (3%) of the share capital will be entitled to request publication of an addendum to the notice of the General Shareholders' Meeting, including one or more additional items on the agenda, within the deadlines and in the manner set forth by Law.

Similarly, shareholders representing at least three percent (3%) of the share capital may submit substantiated proposals for resolutions on any matters already included or which should be included on the agenda, within the term and in the manner established by Law. Said proposed resolutions and, where appropriate, supporting documentation, will be continuously published on Gestamp's website.

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Image /page/166/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked vertically, with a small space between each line.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### **Board of Directors**

The Board of Directors is responsible for supervising, managing, controlling and representing the Company.

At the core of its mission, it must establish the approval of the Company's strategy and the organisation required to put it into practice, as well as the supervision and control of goal achievement by management, and respect for the Company's purpose and interests.

The rules on the composition and functions of the Board of Directors are governed by Law and the corporate rules, and the Board is responsible for the duties set out in Article 8 of Gestamp's **[Regulations of the Board of Directors](https://www.gestamp.com/Gestamp11/media/GestampFiles/Shareholders%20Investors/Corporate%20Governance/Corporate%20Rules/Reglamento%20del%20Consejo/2021_03_29-Reglamento-CdA-(Modificacion-Comision-ESG).pdf?ext=.pdf)**.

Image /page/166/Picture/15 description: A conference room is shown with a long, dark wood table surrounded by gray chairs. Microphones are placed on the table in front of each chair. The walls are a mix of light wood paneling and textured stone with metal accents. The ceiling has recessed lighting and a square panel in the center. A window with blinds is on the right side of the room.

#### COMPOSITION

The Board of Directors comprises 13 members, of whom 7 are independent directors, 3 are proprietary, 2 are executive, and 1 is an external director. Thus, Gestamp not only complies with Recommendation 17 of the Good Governance Code for Listed Companies, which entails having at least 50% of the Board of Directors represented by independent directors, it goes one step further and has a majority of independent directors.

| Member                                | Position           | Category                 |
|---------------------------------------|--------------------|--------------------------|
| Mr Francisco José Riberas Mera        | Executive Chairman | Executive                |
| Mr Juan María Riberas Mera            | Deputy Chairman    | Proprietary              |
| Mr César Cernuda Rego                 | Member             | Independent              |
| Ms Ana García Fau                     | Member             | Independent              |
| Ms Chisato Eiki                       | Member             | Proprietary              |
| Mr Francisco López Peña               | Member             | Proprietary              |
| Mr Norimichi Hatayama                 | Member             | Proprietary              |
| Mr Alberto Rodríguez-Fraile Díaz      | Member             | Independent              |
| Mr Javier Rodríguez Pellitero         | Member             | Independent              |
| Mr Pedro Sainz de Baranda Riva        | Member             | Independent              |
| Mr Gonzalo Urquijo Fernández de Araoz | Member             | Other external directors |
| Ms Marieta del Rivero Bermejo         | Member             | Independent              |
| Ms Loreto Ordóñez Solís               | Member             | Independent              |
| Mr David Vázquez Pascual              | Secretary          | Non-director             |
| Ms Elena Torregrosa Blanchart         | Vice-secretary     | Non-director             |

For more information on directors, visit the Gestamp website. In addition, for more information about the positions held by members of Gestamp's Board of Directors on the board of directors at other companies or organisations, see section C.1.11 of the **[Gestamp Corporate Governance Annual](https://www.gestamp.com/Accionistas-e-Inversores/Gobierno-Corporativo/Informes-Corporativos)  [Report](https://www.gestamp.com/Accionistas-e-Inversores/Gobierno-Corporativo/Informes-Corporativos)** 2023.

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Image /page/167/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked on top of each other.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

#### [3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### DIVERSITY OF THE BOARD

The Board of Directors' Selection Policy, approved by the Company's Board of Directors on 14 December 2017 at the proposal of the Nomination and Compensation Committee, and later amended on 26 July 2022, sets out the procedures and mechanisms for the selection of directors in order to ensure an appropriate and diverse composition of the Company's Board of Directors at all times. This policy sets out the underlying principles that are to govern it, which include the following:

- **•** Equal treatment and transparency. This principle states that the selection of directors shall be transparent and free from implicit bias, so as to guarantee the same opportunities for all qualified candidates.
- **•** Diversity. This principle states that diversity of skills, knowledge, experience, backgrounds, nationalities, age and gender shall be encouraged, in order to enrich the decision-making process and to bring different perspectives to discussions on matters within the Board's competence.

The Board of Directors' Knowledge, Skills, Diversity and Experience Guide sets out the knowledge, skills, diversity and experience that the Board of Directors as a whole must possess such that it serves as a reference and support tool for the Board of Directors' Selection Policy.

This guide, approved on 14 December 2017 by the Board of Directors at the proposal of the Nomination and Compensation Committee, develops the aforementioned principles and establishes that, for the purposes of selecting candidates and re-electing directors, and in the event of equal knowledge and experience, diversity is to be encouraged, thus preventing discrimination on the grounds of gender, age, culture, religion

and race. It also establishes that the composition of the Board of Directors is to be in accordance with the demographic reality of the markets in which the Company operates.

In pursuit of this principle of diversity, and of gender diversity in particular, the Board of Directors' Selection and Diversity Policy establishes the Board's duty to ensure that the Company's diversity measures encourage a significant number of women in senior management positions within the Company, in accordance with the provisions of Recommendation 14 of the Good Governance Code of Listed Companies.

As a whole, the Board must possess the knowledge, skills and experience needed to guarantee the adequate governance of the Company in line with its activities, including its main risks, ensuring that it has effective capacity for independent and autonomous decision-making in the Company's interest. For the purposes of defining the skills, knowledge and experience that, as a whole, are deemed most appropriate for the Board of Directors and to verify the suitability of a candidate for a vacancy on the Board, the Nomination and Compensation Committee approves a competency matrix for the Board of Directors. The current Board of Directors' competency matrix is as follows:

Image /page/167/Picture/20 description: A conference room is shown with a long wooden table surrounded by chairs. The chairs are light brown and have wheels. There is a computer on the table, and a projector is mounted on the ceiling. Large windows are in the background.

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[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

|    | Francisco J.<br>Riberas Mera                                                                                          | Francisco<br>López Peña | Norimichi<br>Hatayama | Alberto<br>Rodríguez<br>Fraile | Pedro Sainz<br>de Baranda           | Gonzalo<br>Urquijo<br>Fdz. de Araoz | Ana<br>García Fau | Juan María<br>Riberas Mera | Javier<br>Rodríguez<br>Pellitero | César<br>Cernuda Rego | Chisato<br>Eiki | Loreto<br>Ordoñéz Solís | Marie<br>del Rivero<br>Bermejo |   |
|----|-----------------------------------------------------------------------------------------------------------------------|-------------------------|-----------------------|--------------------------------|-------------------------------------|-------------------------------------|-------------------|----------------------------|----------------------------------|-----------------------|-----------------|-------------------------|--------------------------------|---|
|    | PROFESSIONAL EXPERIENCES                                                                                              |                         |                       |                                | NOMINATION & COMPENSATION COMMITTEE |                                     |                   | AUDIT COMMITTEE            |                                  |                       | ESG COMMITTEE   |                         |                                |   |
| 1  | Experience on governing bodies, steering committees or in the<br>management of other listed or relevant companies     | •                       | •                     | •                              | •                                   | •                                   | •                 | •                          | •                                | •                     | •               | •                       | •                              | • |
| 2  | Experience in strategy definition and execution                                                                       | •                       | •                     | •                              | •                                   | •                                   | •                 | •                          | •                                | •                     | •               | •                       | •                              | • |
| 3  | Experience in growing companies or/and in consolidation process                                                       | •                       | •                     | •                              | •                                   | •                                   | •                 | •                          | •                                | •                     | •               | •                       | •                              | • |
| 4  | Experience in international environments                                                                              | •                       | •                     | •                              | •                                   | •                                   | •                 | •                          | •                                | •                     | •               | •                       | •                              | • |
| 5  | Experience in sectors with a high technological development or<br>companies undertaking a digital information process | •                       | •                     | •                              | •                                   | •                                   | •                 | •                          | •                                | •                     | •               | •                       | •                              | • |
| 6  | Experience in the automotive industry                                                                                 | •                       | •                     | •                              |                                     |                                     |                   |                            |                                  | •                     |                 |                         |                                |   |
| 7  | Experience in the steel industry                                                                                      | •                       |                       | •                              |                                     | •                                   |                   |                            |                                  |                       |                 |                         |                                |   |
| 8  | Experience in ESG<br>(Environmental, Social & Governance)                                                             |                         |                       |                                |                                     |                                     |                   |                            |                                  | •                     | •               | •                       | •                              | • |
|    | SKILLS & KNOWLEDGE                                                                                                    |                         |                       |                                |                                     |                                     |                   |                            |                                  |                       |                 |                         |                                |   |
| 9  | Legal                                                                                                                 |                         |                       |                                | •                                   |                                     |                   | •                          | •                                |                       |                 |                         |                                |   |
| 10 | Accounting and Finance                                                                                                |                         |                       |                                | •                                   |                                     |                   | •                          | •                                |                       |                 |                         |                                |   |
| 11 | Audit                                                                                                                 |                         |                       |                                |                                     | •                                   | •                 |                            |                                  |                       |                 |                         |                                |   |

This matrix is updated on a regular basis in line with the potential vacancies that may arise on the Board of Directors and the new challenges and opportunities faced by the Company in the short, medium and long term.

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Image /page/169/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in a dark blue color. To the right of the word is a square containing a stylized graphic of two curved lines that form a loop, also in dark blue.

Pursuant to the Regulations governing Gestamp's Board of Directors, the Board shall devote the first of its annual meetings to evaluating its own functioning in the previous year and, where appropriate, adopting an action plan to correct any aspects seen to be of scant functionality. Furthermore, the Board of Directors shall also evaluate (i) the performance of the duties of the Chairperson of the Board and, should the position be held by a different person, that of the chief executive of Gestamp, based on the report submitted by the Nomination and Compensation Committee; as well as (ii) the functioning of the Committees of the Board of Directors, based on the reports they submit to it. This annual evaluation, in compliance with Recommendation 36 of the Code of Good Governance, is carried out every three years

EVALUATION OF THE BOARD OF DIRECTORS' PERFORMANCE

The evaluation process of the Company's Board of Directors for 2023 began on 26 October 2023 and was coordinated by the Nomination and Compensation Committee, at the request of the Chairman of the Board of Directors. In accordance with the above-mentioned Recommendation 36, this financial year, the Company worked with an external consultant on the evaluation

The evaluation process for financial year 2022 consisted mainly in filling out an evaluation form, interviews with each member of the Board of Directors conducted by the external consultant, the issuance of an evaluation report and the preparation of an action

with the advice of an external consultant.

process.

plan.

#### ANNUAL REPORT 2023

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[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

The areas evaluated were as follows:

- **•** Composition of the Board of Directors.
- **•** Functioning and Effectiveness of the Board of Directors.
- **•** Performance of the Chairperson of the Board of Directors.
- **•** Performance of the Secretary of the Board of Directors.
- **•** Performance and contribution of each Director.
- **•** Functioning and composition of the Audit Committee.
- **•** Functioning and composition of the Nomination and Compensation Committee.
- **•** Functioning and composition of the Sustainability Committee.

On 18 December 2023, the results of their evaluation were submitted to the Nomination and Compensation Committee, as well as those regarding the evaluation of the Board of Directors, the Chairperson of the Board of Directors and the Secretary of the Board of Directors. On the same date, the results of their evaluation were submitted to the Audit Committee and the Sustainability Committee. After analysing the results, each of the Committees issued a report on the evaluation. In addition, the Nomination and Compensation Committee, aided by the

external consultant, prepared an action plan that was presented at the first meeting of the Board of Directors in 2024 together with the reports issued by each of the Committees.

Although the results of the 2023 evaluation were positive, the action plan arising from the process includes a series of recommendations about operational aspects of the Board of Directors, which are to be implemented in 2024. For more information on this topic, see section C.1.17 of the **[Corporate](https://www.gestamp.com/Accionistas-e-Inversores/Gobierno-Corporativo/Informes-Corporativos)  [Governance Annual Report 2023](https://www.gestamp.com/Accionistas-e-Inversores/Gobierno-Corporativo/Informes-Corporativos)**.

#### CALLING AND REGULARITY OF MEETINGS

The Board of Directors shall meet as often as necessary to effectively perform its duties, provided this is required in Gestamp's interest, and at least six times a year with at least one meeting being held per quarter.

In 2023, the Board of Directors met on 9 occasions. All the meetings were presided over by the Chairman and the attendance rate was 98.29% given that, for unavoidable personal reasons, Mr César Cernuda Rego and Mr Gonzalo Urquijo Fernandez de Araoz were unable to attend one of the meetings. That said, the corresponding proxy and instructions to issue a favourable vote on their behalf were granted to the Chairman of the Nomination and Compensation Committee, Mr Alberto Rodríguez Fraile Díaz.

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Image /page/170/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked vertically, with a small space between each line.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### **Executive Chairman of the Board of Directors**

**Name:** Francisco J. Riberas Mera **Position:** Executive Chairman **Appointment as Chairman:** 3 March 2017 with effect from 24 March 2017

The chairman of the Board of Directors of the Company is elected from among the members of the Board after a report from the Nomination and Compensation Committee. The Board, after receiving the report from the Nomination and Compensation Committee, may appoint one vice-chairman or more to replace the chairman in the event of absence or incapacity.

**Last appointment as Chief Executive Officer:** 7 May 2021 with effect from 26 July 2021.

The Board of Directors can permanently delegate its powers to one or more members of the Board, except for those powers reserved for the Board by Law, the Articles of Association or the Regulations herein.

The permanent delegation of the Board of Directors' powers and the appointment of the director or directors vested with the delegated powers shall not be valid unless they receive the favourable vote of at least two thirds of the members of the Board of Directors. The CEO's appointment is proposed by the chairman following a report by the Nomination and Compensation Committee.

#### DUTIES AS CHAIRMAN

- **•** He has the status of Chairman of the Company and all company bodies that he forms part of, which he permanently represents.
- **•** He may also have the status of chief executive of the Company and as such be responsible for the effective management of the Company's business, always in accordance with the decisions and criteria established by the General Shareholders' Meeting and Board of Directors.
- **•** He prepares and submits to the Board of Directors a schedule of meeting dates and agendas; he organises and coordinates regular evaluations of the Board and, where applicable, that of the chief executive; he exercises leadership of the Board and is accountable for its proper functioning; he ensures that sufficient time is given to the discussion of strategic issues, and approves and reviews introductory and knowledge refresher courses for each director, when circumstances so advise.
- **•** He chairs the General Meeting and guides the discussions and deliberations held.
- **•** He is responsible for convening and chairing Board meetings, setting the agenda and guiding discussions and deliberations. He ensures that directors receive enough information in good time so as to discuss items on the agenda. He encourages debate and active participation during the meetings.

#### DUTIES AS CHIEF EXECUTIVE OFFICER

**•** The CEO is tasked with effectively representing and steering the Company's business, always in line with the decisions reached and criteria set by the General Shareholders' Meeting and the Board of Directors, within their respective spheres of authority.

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## ANNUAL REPORT 2023

[INDEX](#page-1-0)

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### **Coordinating Director**

**Name:** Alberto Rodríguez Fraile, Independent Director **Position: Coordinating Director Appointment:** 24 July 2017

Given the Chairman's status as executive director, following a proposal by the Nomination and Compensation Committee and with the executive directors abstaining, the Board of Directors appointed a Coordinating Director.

#### DUTIES

- **•** To ask the chairman to call a meeting of the Board of Directors or to include new items on the agenda of a meeting already called, when deemed appropriate.
- **•** To chair the Board of Directors meeting if the chairman and vice-chairman are absent.
- **•** To keep in contact with investors and shareholders to hear their perspectives in order to form an opinion about their concerns, particularly those relating to the Company's corporate governance.
- **•** To coordinate and meet with non-executive directors to discuss their concerns, and coordinate the succession plan for the chairman of the Board of Directors, and
- **•** To lead the periodic evaluation of the chairman of the Board of Directors.

Image /page/171/Picture/20 description: The image shows a room with a robotic arm inside a welding booth. The room has a white wall with the "Gestamp" logo on it. There are two easels with posters on the left side of the room. The welding booth is in the center of the room, and the robotic arm is inside the booth. There is a machine on the right side of the room. There is a table in the foreground with some objects on it.

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Image /page/172/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked on top of each other.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### **Committees of the Board of Directors**

Greater efficiency and transparency in exercising the powers and performing the duties assigned to the Board of Directors warrant the establishment of committees.

These committees are not only called upon to facilitate decisions of the Board (by assessing the matters in advance), but also to strengthen the principles of objectivity and reflection with which the Board of Directors must address certain issues. To this end, the Board of Directors has formed an Audit Committee, a Nomination and Compensation Committee and a Sustainability Committee. The rules on their composition and functioning are outlined in Article 39 of the **[Regulations of the Board of Directors,](https://www.gestamp.com/Gestamp11/media/GestampFiles/Shareholders%20Investors/Corporate%20Governance/Corporate%20Rules/Reglamento%20del%20Consejo/2021_03_29-Reglamento-CdA-(Modificacion-Comision-ESG).pdf?ext=.pdf)** while its duties are set out in Articles 40, 41 and 42 of the same Regulations.

#### AUDIT COMMITTEE

#### **Composition and Frequency of Meetings**

Below is a description of the composition of the Company's Audit Committee as of the date of this Report, stating each member's position, category and date of appointment as a committee member.

| Member                                | Position       | Category                 |
|---------------------------------------|----------------|--------------------------|
| Ms Ana García Fau                     | Chairwoman     | Independent              |
| Mr Javier Rodríguez Pellitero         | Member         | Independent              |
| Mr Juan María Riberas Mera            | Member         | Proprietary              |
| Mr David Vázquez Pascual              | Secretary      | Non-directo              |
| Ms Elena Torregrosa Blanchart         | Vice-secretary | Non-directo              |
| Member                                | Position       | Category                 |
| Mr Alberto Rodríguez-Fraile Díaz      | Chairperson    | Independent              |
| Mr Pedro Sainz de Baranda Riva        | Member         | Independent              |
| Mr Gonzalo Urquijo Fernández de Araoz | Member         | Other external directors |
| Mr David Vázquez Pascual              | Secretary      | Non-director             |

In 2023, the Audit Committee met on 13 occasions. All the meetings were presided over by the Chairman, and the attendance rate was 100%.

#### NOMINATION AND COMPENSATION COMMITTEE

#### **Composition and Frequency of Meetings**

Below is a description of the composition of the Company's Nomination and Compensation Committee as of the date of this Report, stating each member's position, category and date of appointment as a committee member.

In 2023, the Nomination and Compensation Committee met on 7 occasions. All the meetings were presided over by the Chairman, and the attendance rate was 100%.

#### SUSTAINABILITY COMMITTEE

#### **Composition and Frequency of Meetings**

Below is a description of the composition of the Company's Sustainability Committee as of the date of this report, stating for each member the position, category and date of appointment as a committee member.

| Member                        | Position         | Category     |
|-------------------------------|------------------|--------------|
| Mr César Cernuda Rego         | Chairperson      | Independent  |
| Ms Chisato Eiki               | Member           | Proprietary  |
| Ms Loreto Ordóñez Solís       | Member           | Independent  |
| Ms Marieta del Rivero Bermejo | Member           | Independent  |
| Mr David Vázquez Pascual      | Secretary        | Non-director |
| Ms Elena Torregrosa Blanchart | Vice-secretary   | Non-director |
| Mr Carlos Franch Jiménez      | Deputy Secretary | Non-director |

In 2023, the Sustainability Committee met on 7 occasions. All the meetings were presided over by the Chairman, and the attendance rate was 100%.

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[INDEX](#page-1-0)

[1. Letter from the Chairman](#page-2-0)

[4. Environmental Dimension](#page-59-0)

2023

#### [6. GOVERNANCE](#page-155-0) [6.1 Responsible Supply Chain Management](#page-156-0) **[6.2 Good Governance and Ethics](#page-162-0)**

#### **Remuneration of the Board**

The Remuneration Policy for Directors of the Company approved at the General Shareholders' Meeting held on 9 May 2023 defines the following principles, which guide the remuneration of directors for holding such position:

- **•** Adequacy. It must be sufficient to compensate the dedication, qualification and responsibility of the directors while at no time compromising their independence.
- **•** Competitiveness. It must be able to attract and retain the talent of directors, while also being in line with the market criteria at companies of similar characteristics at a national and international level. To this end, the Nomination and Compensation Committee will periodically perform a comparative analysis of the remuneration systems at comparable companies.
	- **•** Dedication. It should match the dedication and responsibility of each director.
- **•** Reasonability. It must be capable of reflecting the Company's reality and that of the sector in which it operates, as well as the economic situation at any given time.
- **•** Proportionality. It must be set considering the remuneration and employment conditions of the Company, the sector and comparable companies. In addition, when the remuneration sums for directors' roles are adjusted, the general adjustment applied to Gestamp Group employees and, in particular, the Gestamp Group management team shall also be taken into account. Good governance and transparency. The Board of Directors shall adopt any measures required to ensure good governance and transparency in the remuneration received by the Directors so as to guarantee the trust of investors and shareholders.

[7. Annexes](#page-199-0)

[6. Governance](#page-155-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[5. Social Dimension](#page-107-0)

- Remuneration of directors for undertaking their executive duties shall also be guided by the following principles contained in the Remuneration Policy:
- **•** Performance. Performance includes a variable component linked to the achievement of specific targets in line with the Group's strategic goals and the creation of value to ensure that the directors' interests are aligned with those of the Company.

**•** Equity. Directors' remuneration for the performance of executive duties is proportional to each director's level of responsibility and experience, always guaranteeing zero discrimination on the grounds of gender, age, origin, sexual orientation and identity, religion or race, in accordance with the Board of Directors' Diversity and Selection Policy.

The remuneration paid to each Gestamp director is also published in the **[Directors' Remuneration](https://www.gestamp.com/Accionistas-e-Inversores/Gobierno-Corporativo/Informes-Corporativos)  [Report](https://www.gestamp.com/Accionistas-e-Inversores/Gobierno-Corporativo/Informes-Corporativos)** and in section C.1.13 of the Corporate Governance Annual Report.

| Name                                  | Fixed rem. | Attendance fees | Remuneration for membership on board committees | Salaries | Short-term variable remuneration | Long-term variable remuneration | Severance payments | Other items* | Total 2022 | Total 2023 |
|---------------------------------------|------------|-----------------|-------------------------------------------------|----------|----------------------------------|---------------------------------|--------------------|--------------|------------|------------|
| D. FRANCISCO JOSÉ RIBERAS MERA        | -          | -               | -                                               | 750      | 295                              | -                               | -                  | -            | 1,046      | 1,045      |
| D. FRANCISCO LÓPEZ PEÑA               | -          | -               | -                                               | 315      | -                                | 3,150                           | -                  | 12           | 312        | 3,477      |
| D. ALBERTO RODRÍGUEZ-FRAILE DÍAZ      | 85         | -               | 40                                              | -        | -                                | -                               | -                  | -            | 110        | 125        |
| Dña. ANA GARCÍA FAU                   | 85         | -               | 40                                              | -        | -                                | -                               | -                  | -            | 110        | 125        |
| D. CÉSAR CERNUDA REGO                 | 85         | -               | 40                                              | -        | -                                | -                               | -                  | -            | 110        | 125        |
| D. PEDRO SAINZ DE BARANDA             | 85         | -               | 20                                              | -        | -                                | -                               | -                  | -            | 95         | 105        |
| D. JAVIER RODRÍGUEZ PELLITERO         | 85         | -               | 20                                              | -        | -                                | -                               | -                  | -            | 95         | 105        |
| Dña. CONCEPCIÓN DEL RIVERO BERMEJO    | 85         | -               | 20                                              | -        | -                                | -                               | -                  | -            | 95         | 105        |
| D. GONZALO URQUIJO FERNÁNDEZ DE ARAOZ | 85         | -               | 20                                              | -        | -                                | -                               | -                  | -            | 95         | 105        |
| D. NORIMICHI HATAYAMA                 | 85         | -               | -                                               | -        | -                                | -                               | -                  | -            | 80         | 85         |
| D. JUAN MARÍA RIBERAS MERA            | 85         | -               | 20                                              | -        | -                                | -                               | -                  | -            | 95         | 105        |
| D. LORETO ORDOÑEZ                     | 85         | -               | 20                                              | -        | -                                | -                               | -                  | -            | 95         | 105        |
| D. CHISATO EIKI                       | 85         | -               | 20                                              | 750      | -                                | -                               | -                  | -            | 95         | 105        |
| Total                                 | 935        | -               | 260                                             | 1,815    | 295                              | 3,150                           | -                  | 12           | 2,433      | 5,717      |

\*Other items refer to remuneration in kind: life insurance premiums and company car.

#### Average directors' remuneration by gender (thousands of euros)\*

|       | 2022  | 2023  |
|-------|-------|-------|
| Women | 98.8  | 110.0 |
| Men   | 226.4 | 586.4 |

\*Average remuneration in 2023 rose significantly due to payment that year of the 2022 Long-Term Incentive to the then executive director Mr Francisco López Peña. If this effect is removed, the average remuneration for male directors is 236..

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[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### **Senior Management**

Senior Management is in charge of the strategic organisation of the Group by disseminating, implementing and monitoring the business strategy and guidelines.

From an organisational standpoint, Senior Management perform their duties in accordance with the different geographical markets and operating segments where the Company conducts its business.

Members of Senior Management as of 31 December 2023:

| Individual or company name            | Position/s:                                                                      |
|---------------------------------------|----------------------------------------------------------------------------------|
| Mr Manuel de la Flor Riberas          | Managing Director of Human Resources                                             |
| Mr David Vázquez Pascual              | General Director of the Legal, Tax and<br>Corporate Governance Department        |
| Ms Patricia Riberas López             | Director of the Office of Transformation<br>and Organisation                     |
| Mr Ignacio Mosquera Vázquez           | Chief Financial Officer                                                          |
| Mr Juan Miguel Barrenechea Izarzugaza | Chief Commercial Officer                                                         |
| Mr Javier Ignacio Imaz                | Corporate Purchasing Director                                                    |
| Mr Fernando Macias Mendizabal         | Corporate Director of Operations and<br>Director of the Southern Europe Division |
| Mr Manuel López Grandela              | General Manager of Mercosur Division                                             |
| Mr Kevin Stobbs                       | Director of the Asia Division                                                    |
| Mr César Pontvianne de la Maza        | General Manager of the Business Mecha-<br>nism Unite (Edscha)                    |
| Mr Juan Carlos Peña Fernández         | Director of Internal Control and Internal<br>Audit                               |

As instructed by the CNMV, Mr Juan Carlos Peña Fernández is included in this list, in her capacity as Director of Internal Control and Internal Audit, despite not being a member of senior management.

**Remuneration of members of Senior Management** amounts to EUR 17,712 thousand.

**Average Senior Management remuneration by gender (thousands of euros)**

|       | 2022  | 2023    |
|-------|-------|---------|
| Women | 183.1 | 1,610.2 |
| Men   | 522.9 |         |

Other items consist of remuneration in kind: life insurance premiums and company car. \*In 2021, the breakdown by gender was not provided as there was only one woman in Senior Management. The average remuneration in 2023 increases significantly due to the payment in 2023 of the 2022 Long-Term Incentive.

The remuneration of Gestamp's Senior Management is also published in section C1.14 of the **[Corporate Governance Annual](https://www.gestamp.com/Accionistas-e-Inversores/Gobierno-Corporativo/Informes-Corporativos)  [Report](https://www.gestamp.com/Accionistas-e-Inversores/Gobierno-Corporativo/Informes-Corporativos)**.

#### **Annual Corporate Governance Report**

At its meeting held on 27 February 2024, the Board of Directors approved the Company's Annual Corporate Governance Report for 2023. In relation to the 57 Recommendations in the Good Governance Code for Listed Companies that are applicable to the Company, said report shows that 54 of these Recommendations are met, 2 are partially met and only one is not met.

**For more information, see the Gestamp [Corporate Governance](https://www.gestamp.com/Accionistas-e-Inversores/Gobierno-Corporativo/Informes-Corporativos)  [Annual Report 2023](https://www.gestamp.com/Accionistas-e-Inversores/Gobierno-Corporativo/Informes-Corporativos)** published on the Gestamp and CNMV websites.

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[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### [6. GOVERNANCE](#page-155-0) [6.1 Responsible Supply Chain Management](#page-156-0) **[6.2 Good Governance and Ethics](#page-162-0)**

# RISK MANAGEMENT

The identification, evaluation and management of risks has been included in Gestamp's culture and strategy since its inception and has gained special relevance in recent times with increasingly changing geopolitical and economic environments.

Risk management, implemented in all businesses and levels of the organization, contributes to reducing, in some cases substantially, the consequences and the probability of occurrence if any of the events materialize, and even transforming risks into opportunities and source of competitive advantage.

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Image /page/175/Picture/15 description: The image shows a group of people sitting at a table with laptops. The laptops are open and appear to be in use. The people are dressed in casual clothing. The person closest to the camera is wearing a blue vest with white lettering on the back.

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Image /page/176/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked on top of each other.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### **Comprehensive risk management system**

Gestamp has a Comprehensive Risk Management System (SIGR)9 to ensure that financial and non-financial risks that could affect the achievement of the Group's strategies and objectives are identified, evaluated and managed systematically and with homogeneous criteria.

Risk management is a process driven by the Board of Directors that helps the company generate value in a sustainable way while safeguarding the interests of its stakeholders.

Gestamp has a Risk Management Policy approved by the Board of Directors that applies to all companies that make up the Group and covers all risks associated with the activities, processes, projects and business lines of the Group in all geographical areas. in which it operates.

This policy states10:

- **•** The different categories of financial, operational, strategic, reputational and compliance risks.
	- **•** The basic principles, guidelines and general framework for action in this matter.
	- **•** The bodies in charge of ensuring the proper functioning of the internal risk control and management systems, along with their roles and responsibilities.
	- **•** The applicable criteria to set the level of risk that is considered acceptable.

The annual risk management process consists of:

- **•** The review and approval of risk assessment scales: impact, probability and speed of occurrence, as well as effectiveness of the controls that mitigate them.
- **•** Updating the Corporate Risk Map.
- **•** Monitoring of the different indicators defined for measuring risks.

9 Based on the COSO ERM model standards, ISO 31000 and the good practices mentioned in the Code of Good Governance of Listed Companies and in the Technical Guide 3/2017 on Audit Committees of Public Interest Entities. 10 More information about the Risk Management System in the Corporate Governance Report.

**•** The implementation and monitoring of the global or specific action plans necessary to respond and maintain risks within the risk levels that are considered acceptable.

In any case, since it is a dynamic system, the aforementioned update includes the incorporation of new risks, as well as the entire subsequent management process that derives from them, depending on the evolution of the businesses, regulations, good governance recommendations and others, as is the case of the risks related to the ESG area, which have been reviewed and aligned, in adaptation to the ESG 2025 Strategic Plan, as explained in subsequent sections.

| BOARD OF<br>DIRECTORS                                        | •<br>Risk policy approval<br>•<br>Establish the level of acceptable risk<br>•<br>Periodically monitor internal information and control<br>systems to check that they are consistent with the<br>Group strategy                             |
|--------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| AUDIT<br>COMMITTEE                                           | •<br>Monitor and assess the efficiency of internal control<br>systems<br>•<br>Management of financial and non-financial risks                                                                                                              |
| EXECUTIVE RISK<br>COMMITTEE<br>OPERATIONAL RISK<br>COMMITTEE | •<br>Identification and assessment of risk management<br>•<br>Approval of the risk response plans and measures,<br>ensuring that they are in line with the established<br>level of risk<br>•<br>Definition of the risk management strategy |
| SPECIFIC RISK<br>OFFICERS                                    | •<br>Monitoring the risks for which they are responsible<br>•<br>Reviewing the effectiveness of controls and action<br>plans                                                                                                               |
| INTERNAL AUDIT AND<br>RISK MANAGEMENT<br>DEPARTMENT          | •<br>Coordinate and promote the activities that form the<br>risk management system<br>•<br>Ensure that the risk control and management<br>systems are working properly                                                                     |

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2023

#### **Main Risks**

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[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

Gestamp carries out its activities in multiple countries, markets and regulatory, political and socioeconomic environments and due to this the company is exposed to strategic, operational, financial, reputational and compliance risks, which must be mitigated in the most effective way possible.

During 2023, the risks detected by the company are in line with those of the previous period, also taking into account the consequences derived from the ongoing international conflicts, which have generated an impact for companies and countries around the world.

These factors have led to the reinforcement of internal measures and policies to mitigate the different consequences derived, among others, from price increases and discontinuities in the supply of raw materials and energy.

Below are some of the main risks identified and the management measures established by the company:

Image /page/177/Picture/15 description: The image shows an industrial robotic arm in an industrial setting. The robotic arm is orange and has the ABB logo on it. The arm is positioned over a white surface, possibly a piece of material being worked on. There are other pieces of machinery in the background, including a large blue cylindrical structure. The overall environment appears to be a factory or manufacturing plant.

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#### [1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### OPERATIONAL RISKS

Image /page/178/Picture/12 description: The image contains text describing the ability to adapt to drops in volumes, flexibility of production and absorption of associated costs, and uncertainty of sales volume forecasts.

Gestamp has been working for years on Industry 4.0 and digitalization projects aimed at making production more flexible and absorbing costs.

Gestamp's Smart Factory model allows us to face market uncertainties, with a new component assembly concept that makes it possible to adjust the installed production capacity to the real volumes of the different vehicles at all times.

Multiple indicators of maximum sensitivity are also available for detecting situations of non-immediate adaptation.

Given the impossibility of anticipating events that could substantially alter vehicle sales volumes, Gestamp works to try to reduce the impact of this risk on the business. Among other measures, there are: the optimization of the cost structure to balance variable and fixed costs, the aforementioned Smart Factory model for the implementation of flexible production processes or the establishment of binding contractual clauses against drops in volumes, where may be possible.

#### **Profitability deviations in the industrialization and production phases of the projects.**

Gestamp has GPCS (Gestamp Product Creation System), a system that regulates and collects all the procedures to be carried out in the study and pricing phase of the projects, serving as a repository of all the documentation of the different parts of the process, including that associated with risks. In this system, the different milestones of each project, their review points and those responsible are defined. This system is disseminated and implemented globally in the Group. Additionally, there is a global database that includes the history of incidents and lessons learned for consultation when preparing each new Business Case.

Finally, for each launch and its corresponding Business Case, a deviation analysis is carried out and they are monitored from a specific corporate control department.

#### **Volatility risks and supply management**

Most steel is purchased through "re-sale" contracts agreed upon directly by automakers. For the rest of raw material supplies, Gestamp negotiates with steel suppliers purchase prices aligned with the agreements closed by customers.

Numerous controls are carried out associated with the management of the logistics chain and daily controls of the stock level in conjunction with production forecasts. Gestamp has designed a long-term energy purchase strategy with PPA contracts (Power Purchase Agreement) with the aim of reducing the impact of price volatility.

Image /page/178/Picture/23 description: The image shows a blue badge with a star in the center. The badge has a jagged edge and a ribbon hanging from the bottom.

#### **Incidents related to the quality of Gestamp products**

Gestamp has a global quality management system that is the basis of the plants' systems, certified by internationally accredited independent organizations and also audited regularly by both clients and the internal quality audit team. Additionally, it develops quality standards with the best practices of the different plants to be implemented in all of them, with a special focus on manufacturing processes, as well as various computer tools that help with the effective deployment of work methodologies in the quality environment. typical of the automotive sector.

#### **Cybersecurity risk and critical information leak**

Implementation of the strategic cybersecurity plan in the plants and divisions, with various measures ranging from the reinforcement of barriers to access to information, to alert systems for intrusion attempts, phishing, malware, etc. or ongoing employee awareness activities. Update and reinforcement of liquid asset protection procedures. Classification of information by level of criticality and design of adequate protection.

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## ANNUAL REPORT 2023

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[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

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#### STRATEGIC RISKS

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#### **Political and economic instability in the various countries in which Gestamp operates**

Gestamp monitors the geopolitical situation in all the countries in which it operates to evaluate and incorporate the effects of potential instability into the Group's forecasts and strategic and operational decisions and designs mitigating measures in this regard. Likewise, related factors and indicators are taken into account in the award of each new relevant project in countries with significant risk, through ad hoc reports and are shared in the committees responsible for making the decisions, as well as their mitigating measures.

Image /page/179/Picture/16 description: The image shows an icon of two people, one wearing a hard hat and the other wearing a suit. To the right of the icon is the text "Di er".

#### **Difficulty in identifying, selecting and retaining trained professionals in line with an environment of technological change and global growth**

Gestamp currently has a people management model that allows it to identify, on a homogeneous and consistent basis, the existing talent in the organization. This, together with other management tools such as training and development programs, mobility plans, and compensation programs, contributes to the development and growth of talent. Furthermore, based on the Group's strategic priorities, both in terms of growth and development and adoption of new technologies, it allows planning the talent needs in number and characteristics, for those environments where it is necessary.

#### **Sufficient ESG objectives in the company's business model and their adequate achievement.**

Gestamp has established a long-term ESG 2025 strategic plan that has been designed to be in line with the risks identified in the Group and in line with the expectations of the different stakeholders. Governing bodies and ESG policies have been defined that determine the company's governance in this field, as well as multidisciplinary working groups at both the corporate and divisional levels. Finally, continuous monitoring activities are carried out.

#### **Inadequate definition of the technological strategy**

Gestamp participates in co-developments with clients and multiple digitalization and Industry 4.0 initiatives. Additionally, a specific technological innovation roadmap has been defined for electric vehicles and other technologies. The activities are supervised and directed by the R&D Committee.

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#### [1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### FINANCIAL RISKS

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**Risks associated with fluctuations in financial markets, such as exchange rates or interest rates**

#### Use of interest rate derivative financial instruments.

Additionally, a balance is sought between the combination of fixed and variable rates in debt. Regular assessment of foreign exchange exposure by geography and making hedging decisions. Monthly monitoring of its impacts. Establishment of contractual clauses with third parties for indexation of exchange rate variations.

#### COMPLIANCE RISKS

Image /page/180/Figure/17 description: The image shows a document with a seal on it. The document is white with blue lines, and the seal is blue with a white center.

**Compliance risks associated with the various legislation and regulations to which the Group is subject.**

Continuous monitoring of all regulatory changes that may affect Gestamp. There is a complaints channel with continuous activity and monitoring and regular reporting to the Group's Audit Committee.

Likewise, the Group has a Criminal Risk Prevention Model, as well as a Criminal Risk Prevention Manual and the codes and policies associated with it, which are approved and reviewed periodically by the Board of Directors.

Image /page/180/Picture/21 description: A close-up shot captures a wooden gavel resting on a black base, positioned in front of a brass scale of justice. The scale, with its two pans suspended by chains, is slightly out of focus, while the gavel is sharply defined. The scene is set on a wooden surface, with a stack of black books visible in the background.

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Image /page/181/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked on top of each other.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

**ESG risks**

Gestamp is aware that ESG risks are closely linked to the geographical location of its plants and the complexity of the automotive sector value chain. For this reason, through the ESG 2025 Strategic Plan, it also seeks to contribute to mitigating these risks with a double direction: towards the company and towards its stakeholders and environment.

During 2023, the Risk Management and the ESG Management have created a matrix that crosses Gestamp's risks with the areas of the ESG Strategic plan with a double objective: to ensure that the Risk Map is aligned with the company's new ESG strategy and know the degree of contribution of the different areas of the ESG Plan to the mitigation of the company's risks.

#### LEVEL OF CONTRIBUTION OF THE ESG PLAN TO THE TOP 20 IDENTIFIED RISKS

Image /page/181/Figure/15 description: The image shows a series of icons representing different areas of focus. From left to right, the icons are: a tree for Environmental Targets, a person with stars for Talent, a car for Circularity, a heart for Health & Safety, a building for Social Contribution, three people for Ethics & Good Governance, a cloud with CO2 for Road to Neutrality, and three circles connected in a loop for Supply Chain Responsible Management. The icons are arranged in a line, with some icons in a light blue circle and others in a light gray circle. To the right of the icons, there is text that describes the areas represented by the icons. The text indicates that the light gray circles represent areas that contribute to risk mitigation, while the light blue circles represent areas that, in addition to contributing to risk mitigation, are a source of competitive advantage.

After analyzing this matrix, the following conclusions have been obtained:

- Firstly, the most mature plan areas, that is, those in
- which the company has been working for the longest time, meet their objective of mitigating risks such as the safety and health of workers, risks related to the quality of the parts supplied or risks of compliance and accountability.
- In addition, the plan reinforces areas that mitigate risks related to the environmental, social and ethical 1 2 3
	- management of the supply chain or non-alignment with clients' ESG expectations or talent attraction and retention.
- And mainly, the plan not only contributes to
- mitigating risks, but also transforms some of them
- into opportunities and competitive advantage, such as alignment with clients' climate change objectives or introducing the concept of circularity.

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| INDEX |  |
|-------|--|
|-------|--|

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

## ETHICS AND REGULATORY COMPLIANCE

Gestamp is committed to ethics, integrity and transparency in the course of its business. We are also aware that the decisions and actions of the Group and its employees contribute to building and maintaining its reputation and impact the confidence that stakeholders have in the Group.

The following are part of the identification process of the company's main impacts, risks and opportunities in different areas related to **Business Conduct**:

#### ETHICS, INTEGRITY, CORRUPTION AND BRIBERY CYBERSECURITY AND DATA PRIVACY

Damage caused by employees due to breach of the Code of Conduct.

#### RISKS RISKS

Economic sanctions, in addition to reputational damage, resulting from possible internal actions that promote anti-competitive, monopolistic, corrupt or fraudulent practices.

#### OPPORTUNITIES

Reputational improvement due to the implementation of improvements in the company's Code of Ethics and Conduct.

Image /page/182/Picture/21 description: A man with glasses and a beard is looking down at a piece of paper in his hands. He is wearing a light blue button-down shirt. He is standing in front of a window.

#### IMPACT IMPACT

Damage caused by employees due to breach of the Code of Conduct. Greater vulnerability of third-party data privacy and security due to lack of strategic cybersecurity plans.

Image /page/182/Picture/25 description: The image contains two icons. The first icon is a blue triangle with three horizontal yellow bars inside, stacked on top of each other. The second icon is a gauge with a blue needle pointing to the green area of the gauge.

Reputational damage and financial penalties resulting from inadequate implementation of cybersecurity tools and technologies that result in increased vulnerability to cyberattacks.

| Severity/Magnitude               | Probability                                                                     |  |
|----------------------------------|---------------------------------------------------------------------------------|--|
| Image: Low Severity/Magnitude    | Image: Low Probability                                                          |  |
| Image: Medium Severity/Magnitude | Image: Medium Probability                                                       |  |
| Image: High Severity/Magnitude   | Image: High Probability                                                         |  |
|                                  | N/A Impact considered to exist (actual) which is why probability is disregarded |  |

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#### ANNUAL REPORT 2023

To adequately manage the IROs identified, Gestamp has established the following objectives within the ESG 2025 Plan:

☰

☰

☰

| INDEX |
|-------|
|-------|

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

| Description                                                       | Level of achievement                              |
|-------------------------------------------------------------------|---------------------------------------------------|
| Countries with criminal risk prevention<br>programmes             | 2023 40%11                                        |
|                                                                   | 2025 +60% of countries                            |
| Roll out of third-party due diligence<br>policy                   | 2023 40%10                                        |
|                                                                   | 2025 +60% of countries                            |
| Implementation of the due diligence in<br>human rights programme. | 2023 A preliminary analysis has been carried out. |
|                                                                   | 2025 Done <span style="font-size:16px">✓</span>   |

11 In 2023 great efforts have been made in this area, resulting in 70% of the objective set in the ESG Plan for 2025 being achieved. For more information see the Criminal risk prevention section.

In line with this commitment, Gestamp has a Compliance Department that operates through different bodies: the Ethics Committee, the Compliance Office and the Regulatory Compliance Unit. The Compliance Department supports the Board of Directors and, in particular, the Audit Committee, the supervisory body of the Code of Conduct, the Whistleblowing Hotline and the Group's internal control programmes.

The Compliance Policy establishes the governance structure of the Compliance Department: while the Ethics Committee, with the support of the Compliance Office, acts within the scope of the Code of Ethics and the Whistleblowing Hotline, the Regulatory Compliance Unit is limited to developing and monitoring the compliance programmes implemented in the Group.

Additionally, the Sustainability Committee monitors and oversees those aspects related to Human Rights such as the Policy, which was approved at the end of 2022 by the Board of Directors.

Image /page/183/Picture/17 description: A slightly angled shot shows a white wall with the word "Gestamp" in silver, sans-serif letters. To the right of the word is a square logo, also in silver, featuring a stylized design with curved lines and a small circle. Below the logo and text, there is a small, rectangular, translucent object. In the lower part of the image, a metal railing with black supports is visible, suggesting a staircase. The lighting is soft and diffused, creating a clean and professional look.

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2023

#### **Code of Conduct**

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[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

Gestamp has had a Code of Conduct since 2011. This document is the common reference framework for the ethical and respectful behaviour of the members of the governing bodies and employees contractually linked with the Group companies or with any of the subsidiaries in which the parent company holds, directly or indirectly, the status of majority partner.

It contains the Rules of Conduct based on the Corporate Principles and on the Ten Principles of the UN Global Compact relating to human rights, labour standards, environmental standards and the fight against corruption.

On 7 May 2018, the Board of Directors of Gestamp Automoción, S.A. approved the current version of the Code of Conduct in order to adapt and update its content to meet the requirements arising from the new listed company status of the Group's parent company.

The **[Code of Conduct](https://www.gestamp.com/Gestamp11/media/GestampFiles/About%20Us/Code%20of%20Conduct/Code-of-Conduct-ES.pdf?ext=.pdf)** can be found on the Group's website and Intranet and is available to both employees and third parties (suppliers, clients, local communities, etc.) in any of the 18 languages used by the Group.

#### TRAINING

All Group employees and members of the governing bodies must have completed the introduction course on the Code of Conduct at least once. It also forms part of the induction plan for new employees, where they are given the document and asked to adhere to it. The Code of Conduct training can be carried out in the following ways:

- **• Online training:** through the Gestamp Corporate University.
- **• Face-to-face training:** For cases where the employee does not have access to an electronic device that allows them to carry out said online training.

Image /page/184/Picture/20 description: Two copies of a document titled "Código de Conducta" are stacked next to each other. The document has the "Gestamp" logo at the top, followed by the title in large, bold letters. Below the title are four circular icons representing different aspects of conduct. The background of the document features a blurred image of a road through a forest.

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## ANNUAL REPORT 2023

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[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### BODIES INVOLVED IN THE CODE OF CONDUCT

Gestamp has the following bodies that, among other functions, ensure compliance with internal regulations and legislation applicable to the Group, and are involved in the monitoring and control of the Code of Conduct and the Criminal Risk Prevention Model:

#### **Board of Directors**

The Board of Directors, as the highest supervisory, management and control body of the Company, has, among others, the duty of approving the Code of Conduct and other general policies related to it, as well as the Compliance Model (including the Criminal Risk Prevention Model). It also supervises the correct functioning of the Compliance Model with due diligence and efficiency.

- **• Senior Management:** Gestamp's Management, as the first line of defence, must at all times take action to ensure that the areas under its responsibility act in accordance with the applicable legislation and internal regulations, taking responsibility for ensuring that these areas correctly implement the controls assigned to them, and for following up on the proposed corrective actions.
- **• Audit Committee:** The Board of Directors has delegated the following duties related to ethics and integrity to the Audit Committee:
- **-** Guaranteeing compliance with the Group's Code of Conduct.
- **-** Supervise the Group's whistleblowing hotline.
- **-** Review and propose the Criminal Risk Prevention Model and Criminal Risk Prevention Manual to the Board of Directors for approval.

The Audit Committee has the continuous support of the Ethics Committee, the Compliance Office and the Regulatory Compliance Unit in order to carry out the tasks in relation to the aforementioned duties and, for these purposes, said units regularly report to the Committee within the scope of their competence.

- **• Ethics Committee:** The Ethics Committee is a collegiate body with initiative and control powers. Its activity is supervised by the Audit Committee and consists mainly of:
- **-** Promoting the distribution and awareness of the Code of Conduct and enforcing the rules and prevention mechanisms in place.
- **-** Establishing and developing any procedures required to accurately and fully comply with the Code of Conduct and proposing specific measures for the prevention and detection of breaches.
- **-** Drawing up an annual report on compliance with and development of the Code of Conduct, which is to be submitted to the Board of Directors and the Audit Committee.
- **-** Providing reparations and assistance to anyone who may be affected by any irregular activities performed within the company, especially irregularities that have criminal consequences.
- **• Compliance Office:** The Compliance Office reports to the Ethics Committee. Its duties include receiving, directing, monitoring, appropriately reporting, documenting and investigating, where appropriate:
- **-** Any doubts, issues, enquiries and improvements proposed by employees in relation to the content of the Code of Conduct and of any document or implementing regulation.

**-** Any reports of employees or third parties relating to procedures which could potentially amount to violations of the Code of Conduct or that may be unlawful.

Image /page/185/Picture/29 description: In an office setting, a woman is seated at a desk, seemingly focused on her work. She is wearing a light-colored, patterned blouse and has a watch on her left wrist. Her hair is dark, and she appears to be in deep thought or concentration. The desk in front of her has a computer monitor displaying what looks like a spreadsheet or data table. There are also office supplies and equipment on the desk, including a telephone and some cables. A partition separates her workspace from others. In the background, there are other people working at their desks, along with office furniture and decor, including plants and artwork on the walls. The overall atmosphere is that of a busy but organized office environment.

{186}------------------------------------------------

## ANNUAL REPORT 2023

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[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

**• Regulatory Compliance Unit:** The Regulatory Compliance Unit supports the Audit Committee in tasks relating to regulatory compliance. Duties related to criminal risk prevention:

- **-** Promoting a culture of prevention based on the principle of absolute rejection of the perpetration of illegal acts and situations of fraud, and on the application of the principles of ethics and responsible behaviour to the activity of all Gestamp professionals.
- **-** Ensuring the establishment of the primary policies, procedures, controls and internal regulations to be implemented within the Group relating to regulatory compliance.
- **-** Promoting the periodical review of the Criminal Risk Prevention Model and, in particular, revising the risks to which the Group is exposed and the controls assigned to mitigate them.
- **-** Monitoring the operation, effectiveness and compliance of the Criminal Risk Prevention Model.
- **-** Managing and coordinating the tasks of disseminating and providing training in relation to the Criminal Risk Prevention Protocol.
- **-** Regularly informing the Audit Committee and, if applicable, the Board of Directors of (i) the risk areas which may affect the Group, (ii) the results of assessments and monitoring of the Prevention Protocol, (iii) the measures implemented to control and mitigate criminal risks.
- **-** Working alongside the Compliance Office to investigate any reports filed via the authorised channels which may incur the criminal liability of the legal person.
- **-** Promoting a culture of third-party risk management, especially with regard to integrity risk, and compliance with the applicable regulations on international sanctions.
- **-** Devising a procedure for third-party evaluation and keeping it up to date.
- **-** Issuing an opinion on third-party risk within the scope of the assessment policy, in line with internal procedures.

Image /page/186/Picture/22 description: This image shows a large, industrial building with the name "Gestamp" prominently displayed on its side. The building is light gray with a blue trim and the "Gestamp" logo is in blue as well. There are several trucks parked near the building's entrance, suggesting it is a distribution or manufacturing center. A row of street lights lines the road in front of the building, and there is a parking area with covered parking spaces to the right of the building. The sky is overcast, indicating it might be early morning or late afternoon.

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2023

Image /page/187/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked on top of each other.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### **Whistleblowing Hotline**

In order to respond to communications regarding possible breaches of the Code of Conduct and other internal regulations or legislation applicable to the Group, as well as in relation to suggestions, queries or doubts, Gestamp has a whistleblowing hotline with the following communication channels, whereby the confidentiality of the process and the rights of the people who communicate in good faith and of the people reported is guaranteed:

- **•** Human Resources Managers (Delegates). It is possible to report through the Delegates, who report the submitted complaints to the Compliance Office.
- **•** Compliance Office mailbox. Corporate email address managed directly by the Compliance Office.
- **•** SpeakUp Line. A complaints channel managed by an external company has been available since December 2016. Such communication may take place via telephone, web form or email. It is available at all times in all the languages of the Group. Communications are managed through the Compliance Office.

This channel is available to employees and people linked in any way to the Group (employees, clients, suppliers, collaborators, partners, shareholders and investors and local communities, among others).

The reports are analysed and investigated as quickly as possible, applying the principles of confidentiality, non-retaliation and protection of personal data to all those involved in the investigation process, with a focus on the whistleblower and accused party. If an infringement is proven, the corresponding sanction shall be imposed by the competent internal bodies.

During 2023, for the purposes of verifying if the channels of communication comply with Law 2/2023, on whistleblower protection, which incorporates Directive (EU) 2019/1937 into Spanish Law, a Gap Analysis was conducted with an external company.

Said Law establishes a series of minimum requirements that must be met by the various internal information channels through which individuals can report, within a work setting, any violations of EU Law.

**Law 2/2023 on whistleblower protection can be divided into three main sections that include the essential requirements that must be fulfilled for the creation or adaptation of the internal information system.**

#### INTERNAL INFORMATION SYSTEM

1

2

3

- The law requires the creation or adaptation of an internal information system that has essential elements.
- **•** To allow information to be communicated either in writing or verbally, or both.
- **•** To have a policy or strategy that states the main principles relating to the IIS and whistleblower protection.
- **•** To guarantee that communications can be processed effectively within the organization.

#### INTERNAL INFORMATION SYSTEM MANAGER

The company's board of directors or governing body must appoint an individual as manager of the system.

- **•** To have a system manager.
- **•** To appropriately document the functions of the "System Manager" and how they should interact with both whistleblowers and external organizations, in the event of any notification requirements.

#### INTERNAL MANAGEMENT PROCEDURE

- The information management procedure must include the necessary provisions to ensure that both the internal information system and the internal information channels in place comply with all applicable legal requirements.
- **•** Whistleblower to be sent acknowledgement of receipt of their communication.
- **•** Inclusion of clear an accessible information about external channels of information with the relevant authorities.

{188}------------------------------------------------

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Image /page/188/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked on top of each other.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

Based on the results of the analysis performed by the external company, an action plan was drawn up and fulfilled before the end of the year.

The plan included the following actions:

- **•** Corporate Internal Information System Policy: Approved by the Ethics Committee, the Audit Committee and the Board of Directors.
- **•** Internal Information System Management Procedure: Approved by the Ethics Committee.

Both documents are available on both the company website and the Group Intranet and can be accessed by both employees and third parties (suppliers, clients, local communities, etc.) as users of the channels. The main updates are:

- **•** Deadlines are established for receipt, acknowledgement of receipt and investigation.
- **•** The option of anonymous reporting is established in writing.

The Group is committed to collaborating and cooperating with the authorities and judicial and administrative bodies in relation to the investigation of alleged criminal acts that may be committed within the Group.

In 2023, 129 communications were received through the different channels. Except for 3 communications regarding questions of interpretation, the rest referred to alleged breaches of Gestamp's Code of Conduct.

Image /page/188/Picture/20 description: Three women are in an office. Two of the women are standing and looking at a piece of paper. The woman on the left is wearing a blue shirt and jeans. The woman in the middle is wearing a white shirt and has a lanyard around her neck. The woman on the right is sitting at a desk and wearing glasses. There are computers on the desks in the office. There is a sign in the background that says "Gestamp" and "WORKING FOR A SAFER AND LIGHTER CAR".

{189}------------------------------------------------

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[INDEX](#page-1-0)

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

At 31 December 2023, the communications according to type were:

| Integrity in the workplace:                             |                                                                                                                                                                                                                                                                            | 2021 | 2022 | 2023 |
|---------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------|------|------|
| Health and Safety*                                      | Have facilities and equipment in good condition available, as well as people who respect the rules and put prevention ahead of anything else.                                                                                                                              | 14   | 18   | 13   |
| Discrimination and fair treatment*                      | No discrimination on grounds of race, religion, sex, age, nationality, sexual orientation, gender identity, marital status or disability.                                                                                                                                  | 10   | 7    | 11   |
| Harassment*                                             | Physical or verbal conduct of a sexual nature with the aim or result of undermining the dignity of others, especially when it creates an intimidating, degra-<br>ding or hostile environment.                                                                              | 1    | 2    | 2    |
| Respectful working environment*                         | Right to be treated fairly and with respect. One of Gestamp's aims is to create a work environment in which mutual trust and respect prevails.                                                                                                                             | 66   | 64   | 73   |
| Equal opportunities*                                    | Promote equality in terms of access to employment and promotion of professionals, as well as respecting equal pay for equal work.                                                                                                                                          | 3    | 7    | 8    |
| Respect for freedom of thought and association*         | Recognition of the principles of freedom of association and freedom of thought for employees.                                                                                                                                                                              | 0    | 0    | 0    |
| Forced or child labour*                                 | Avoid any instance of recruiting staff against their will or under threat, including by means of violence or intimidation, and the employment of any person under the<br>age at which education stops being compulsory.                                                    | 0    | 0    | 0    |
| Integrity in the supply chain:                          |                                                                                                                                                                                                                                                                            |      |      |      |
| Limitations and incompatibilities                       | Holding positions in, performing duties for, or acting in representation of competing companies that supply goods and services is prohibited.                                                                                                                              | 1    | 0    | 0    |
| Conflict of interest                                    | Avoid situations where an employee's personal interests may clash with Gestamp's interests.                                                                                                                                                                                | 0    | 4    | 8    |
| Bad practices with suppliers                            | All interactions with our suppliers must meet the company's ethical standards.                                                                                                                                                                                             | 4    | 14   | 5    |
| Corruption                                              | Corruption or bribery is not accepted. It is forbidden for any Gestamp employee to negotiate with a government or political party official in order to offer or provide a<br>backhander or reward that favours decision-making for the benefit of themselves or the Group. | 0    | 0    | 0    |
| Political activity                                      | Gestamp will neither participate in any political activity nor provide any kind of politically motivated financial donation to any country in the world.                                                                                                                   | 0    | 0    | 0    |
| Integrity regarding shareholders and business partners: |                                                                                                                                                                                                                                                                            |      |      |      |
| Reliability of information                              | The honest, accurate and objective collection and presentation of information, whether financial or otherwise.                                                                                                                                                             | 2    | 5    | 2    |
| Data handling**                                         | Gestamp's technical, operational, commercial and financial data is company property, and is therefore considered confidential and must be safeguarded.                                                                                                                     | 0    | 1    | 1    |
| Privacy and confidentiality                             | Gestamp is committed to following existing legislation on the protection of personal data.                                                                                                                                                                                 | 2    | 1    | 0    |
| Control of insider information                          | Commitment to supporting the legitimacy and transparency of securities markets worldwide by using information in a discreet and professional manner.                                                                                                                       | 0    | 0    | 0    |
| Asset protection                                        | Ensuring the proper use of Gestamp's assets, including property, time, confidential information, intellectual and industrial property rights, company funds<br>and equipment belonging to the company.                                                                     | 3    | 1    | 5    |
| Integrity regarding environment and community:          |                                                                                                                                                                                                                                                                            |      |      |      |
| Environment*                                            | Commitment to adapting and using the best available practices for the company's facilities in order to protect the environment.                                                                                                                                            | 0    | 0    | 0    |
| Community commitment*                                   | Gestamp is committed to the economic and social growth of communities, through the creation of stable employment and working with local actors.                                                                                                                            | 0    | 1    | 1    |
| TOTAL                                                   |                                                                                                                                                                                                                                                                            | 107  | 125  | 129  |

\*Subject matter directly or indirectly connected to the human rights of employees. \*\*No case has been related to financial matters

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[INDEX](#page-1-0)

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

4. Environmental Dimension

5. Social Dimension

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

Taking into account the communication channels use

Taking into account the communication channels used: At 31 December, 91% of the received communications had been closed. As a result of the investigations carried out in response to the reports, appropriate measures have been taken when deemed necessary, including:

6 46 77 8 1 8

were received through the delegates

**COMMUNICATIONS COMPLIANCE OFFICE SPEAK UP LINE DISMISSALS SUSPENSION WARNINGS** were received directly through the Compliance Office by email

were received through the without pay Speak Up Line

8
DISMISSALS

**SUSPENSION**
without pay

Written warnings

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

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HUMAN RIGHTS

diligence in Human Rights..

Gestamp is aware of the industrial community's responsibility in terms of human rights, not only through its direct activity but also through all its business relationships. In order to anticipate the approval of the Sustainability Due Diligence Directive and follow the recommendations of the United Nations, ILO and OECD, during 2023 Gestamp has made progress with the implementation of due

## ANNUAL REPORT 2023

Image /page/191/Picture/3 description: The image shows a graphic of three horizontal lines stacked on top of each other, resembling a hamburger menu icon. Below the lines, the word "INDEX" is written in a sans-serif font.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### **Human rights policy**

In 2022, Gestamp updated its Human Rights Policy, which sets out the scope of the company's responsibility in this area and the due diligence strategy, ensuring alignment with the European Union's upcoming Corporate Sustainability Due Diligence Directive.

The **[Human Rights Policy](https://www.gestamp.com/Gestamp11/media/GestampFiles/Sustainability/Sustainability%20at%20Gestamp/HumanRightsPolicy-Gestamp.pdf?ext=.pdf)** was approved by the Board of Directors and applies to all Gestamp Group employees, as well as subcontractors, suppliers, partners, customers and collaborators, in compliance with the United Nations Guiding Principles on Business and Human Rights. The Policy sets out the following minimum human rights principles for the company in its relations with stakeholders:

Image /page/191/Figure/14 description: The image shows a prohibition sign over a child's face. The child's face is a simple line drawing with a smiling expression. The prohibition sign is a blue circle with a diagonal line through it.

Image /page/191/Picture/15 description: The image shows a hand holding a dollar coin. There is another dollar coin above the hand. The hand and coins are outlined in dark blue, and the coins have a lighter blue fill.

Image /page/191/Figure/16 description: The image shows a passport icon. The passport is blue and white and has a globe on the cover.

Image /page/191/Picture/39 description: The image shows a blue shield with a blue star inside. The star has a checkmark in the center.

Prohibition of child labor

Fair wages and benefits

Protection of the rights of migrant workers

Image /page/191/Picture/21 description: The image shows a stylized icon of a map with a location pin on it. The map is depicted as an open, folded document, and the location pin is positioned on the upper left corner of the map. The icon is outlined in blue, with a lighter shade of blue used for the location pin.

Image /page/191/Picture/22 description: The image is completely white and contains no discernible content or features.

Image /page/191/Picture/23 description: The image contains two icons with text below them. The first icon is a blue image of a machine with text below it that reads "Eradication of forced labor, human trafficking and modern". The second icon is a blue circle with text below it that reads "Respect for work hours".

hours Protection
 community

Protection of the rights of local communities

Abstention in the purchase of minerals from conflict zones

Image /page/191/Picture/40 description: The image shows two hands clasped together in a handshake. The hands are drawn with thick blue lines, and there are small blue dots radiating outwards from the hands, suggesting movement or energy. The handshake is depicted in a simple, stylized manner.

forms of slavery

No discrimination

...

Image /page/191/Picture/30 description: The image shows a blue icon of a person in a wheelchair. The person is facing to the left. The text "rimination" is below the icon in a light gray color.

Image /page/191/Picture/31 description: The image shows a blue icon of three people standing close together, representing a group or association. Below the icon, there is text in gray that reads "Respect the right of union association and collective bargaining."

Image /page/191/Picture/32 description: The image shows a blue tree icon.

Environmental conservation

In line with the Code of Conduct, Gestamp's **[Human Rights Policy](https://www.gestamp.com/Gestamp11/media/GestampFiles/Sustainability/Sustainability%20at%20Gestamp/HumanRightsPolicy-Gestamp.pdf?ext=.pdf)** establishes its own due diligence process to identify any real, potential risks of human rights violations that may arise in the course of Gestamp's normal activities.

Image /page/191/Picture/41 description: The image shows a blue shield with a blue gear inside. The gear has a checkmark in the center. Below the shield is the text "Security of products and".

Image /page/191/Picture/36 description: The image shows the word "services" in gray text at the top. Below the text are three geometric shapes that resemble crystals. The crystals are in shades of blue.

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[INDEX](#page-1-0)

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### DUE DILIGENCE

The company has a due diligence process for human rights that enables it to:

- **•** Define the company's public commitment in this area through the aforementioned policy.
- **•** Identify and assess any real or potential risks of human rights violations that have an impact on individuals and/or society.
- **•** Prevent and mitigate any impact the company may have on its stakeholders regarding:
- **-** Forced labour
- **-** Child labour and young workers
- **-** Non-discrimination
- **-** Freedom of association
- **-** Occupational Health and Safety
- **-** Community impact
- **-** Establish measures to help remedy or compensate for potential human rights violations.
- **-** Foster transparency and proper communication in this area.
- **-** Ensure proper monitoring and review of the risks and measures in place.
- **-** Employment and working conditions (salary, work schedule and right to privacy)
- **-** Corruption and bribery
- **-** Company products and marketing practices
- **-** Supply chain and partner management
- **•** Periodically monitor the progress and efficacy of the measures implemented.
- **•** Transparently communicate the above points.

#### **Identification of human rights risks**

During 2023, Gestamp has analysed its inherent human rights risks based on the probability according to the geographical areas in which it carries out its activities and the severity based on their scale, scope and remediation of the different human rights risks in its stakeholders.

From the risk assessment, it is concluded that the inherent human rights risks are determined by its geographical presence and also by its commercial activities with third parties, mainly through its supply chain.

#### **Diagnosis of human rights prevention and mitigation measures**

Gestamp has launched a questionnaire to plants and corporate departments to assess the measures implemented and detect new reinforcement measures to minimise the probability and consequences of human rights risks.

Following the guidelines of the Danish Institute for Human Rights, it is confirmed that the company has policies and procedures to respect the human rights of all its stakeholders and that it establishes measures in those markets where the legislation is laxer.

Given the complexity and globalisation of the industry's supply chain, many of the potential risks related to this matter have been identified as stemming from relations with suppliers, subcontractors and collaborators. Therefore, special controls for human rights have been incorporated into the Group's supplier management platform: ESG risk prediction tool, self-completed questionnaire for suppliers and templates for identifying conflict minerals. (Further information: Responsible supply chain

#### management).

Gestamp also has a whistleblowing hotline for employees and people linked in any way to the Group (employees, clients, suppliers, collaborators, partners, shareholders and investors and local communities, among others) which considers matters directly or indirectly related to human rights. (See Code of Conduct section).

As a result of the diagnosis, Gestamp has identified the need to strengthen some of its human rights violation protection measures such as:

- **•** Annually update the identification and assessment of real and potential human rights risks.
- **•** Ensure that the Human Rights policy is transferred to all Human Resources procedures and processes.
- **•** Prepare a remediation protocol.

Furthermore, Gestamp's plants in the United Kingdom have a specific internal policy called Slavery and Human Trafficking Statement to comply with the regulations, of an eminently criminal nature, existing in the UK (Modern Slavery Act).

Additionally, in its activities in Germany, Gestamp as implemented the Law for due diligence of the supply chain (LkSG).

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Image /page/193/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in a dark blue color. To the right of the word is a stylized graphic, also in dark blue, that resembles a curved line with a circle at the end.

Image /page/193/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked on top of each other.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### **Criminal Risk Prevention**

Gestamp's Criminal Risk Prevention Model aims to analyse and assess the risks arising from the potential perpetration of offences within the Group, as well as to identify the controls, already implemented or to be implemented, that are necessary to prevent, detect or mitigate criminal risks. This model, including the Criminal Risk Map and Criminal Risk Prevention Manual, is regularly revised and updated.

During the 2023 financial year, work continued on updating and improving the Criminal Risk Prevention Model by extending the scope of evaluation processes for the design and effectiveness of controls, as well as establishing corrective measures for any shortfalls detected. In terms of promoting a culture of compliance within Gestamp, training on criminal risk prevention has continued, adapted to the risk profile for the professional activity of each employee. Likewise, a notice about the Gift Policy was sent to all employees, which detailed the fundamental aspects of the standard in order to promote greater awareness of it.

Finally, in order to achieve better coordination and supervision of the control framework established on an international level, work has continued on revising the risks and controls set locally, with corrective action proposed where necessary.

Image /page/193/Picture/15 description: The image is a blurry, abstract shot of an electronic display. The colors are predominantly blue, with some hints of green and white. The display appears to be showing some kind of data or information, but the details are not clear due to the blur.

Image /page/193/Picture/16 description: The image shows a close-up of an electronic display, possibly a stock ticker or a large LED screen. The display is composed of numerous small, round lights arranged in a grid pattern. The lights are predominantly blue and white, with some hints of green and other colors in the background. The lights form a pattern resembling a graph or chart, with peaks and valleys suggesting fluctuating data. The background is blurred, indicating a shallow depth of field. The overall impression is one of technology, data, and information display.

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#### ANNUAL REPORT 2023

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[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### CORRUPTION, FRAUD AND BRIBERY PREVENTION

Corruption, fraud and bribery are prevalent in today's society. These illegal activities stunt economic and social development, undermine the rule of law and, from a business perspective, are detrimental to the market and corporate reputation.

On 17 December 2018, the Gestamp Board of Directors approved the Anti-Corruption and Fraud Policy, which expands on the internal regulations regarding corruption, fraud and bribery already established in the Code of Conduct. The Policy is applicable to directors, managers and employees who are contractually bound to the Group's companies, as well as any third parties that liaise with the Group.

The aim of this Policy is to send a strong and clear message of opposition to all forms of corruption, fraud and bribery and to explicitly state our commitment to avoiding said conduct within the organisation.

To this end, it establishes certain guidelines for action and the rules applicable to the performance of any business-related activity conducted within the Group in relation to:

Image /page/194/Figure/16 description: The image shows five icons related to unethical behavior. The first icon depicts a briefcase with two hands shaking inside, labeled "Corruption." The second icon is a money bag with a dollar sign on it, labeled "Fraud and bribery." The third icon is a gift box with a bow, labeled "Gifts and tokens of appreciation." The fourth icon shows a hand holding two coins with dollar signs, and the fifth icon is a podium.

Donations or aid Political activity

The Group is also aligned with major international standards on corporate responsibility and anti-corruption, including the Tenth Principle of the UN Global Compact, the recommendations of the Organisation for Economic Co-operation and Development (OECD), the US Foreign Corrupt Practices Act and the UK Bribery Act, among others.

Corruption, fraud and bribery also form part of the catalogue of risks found in the Group's Criminal Risk Prevention Model and, therefore, controls designed to prevent them from materialising have been introduced. This includes due diligence measures established to identify and manage the integrity risk associated with certain partners, customers and suppliers that Gestamp engages with based on its normal operations.

Although the training given on criminal risk prevention has been adapted to the risk profile for the professional activity of each employee, all participants took the module on the prevention of corruption and bribery.

With respect to political activity, the Group does not take part in any activity of this kind, nor does it show support for, make financial contributions or give donations of any kind to political parties or their members.

This includes due diligence measures established to identify and manage the integrity risk

#### PREVENTION OF MONEY LAUNDERING AND THE FINANCING OF TERRORISM

In accordance with the legislation applicable in the jurisdictions where Gestamp carries out its usual activities, the Group is not obliged to comply with anti-money laundering and counterterrorism financing legislation.

Nevertheless, the Criminal Risk Prevention Model includes money laundering and terrorism financing within the catalogue of risks that the Group is exposed to as a result of its usual activity, therefore specific measures are in place to prevent them from materialising.

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## ANNUAL REPORT 2023

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[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### **Compliance in terms of Competition**

Our Code of Conduct establishes measures aimed at avoiding any conduct that could illegally restrict free competition in the markets in which Gestamp operates. It does so by forbidding engagement in secret agreements on prices or terms of sale with competitors, secret agreements on waiving competition, the submission of sham bids, client sharing and other market segmentation standards.

Furthermore, the Crime Prevention Model stipulates the analysis, identification and regular assessment of risks linked to the perpetration of offences related to conduct that restricts free competition, and also defines effective controls for preventing the possibility of such offences being committed.

Gestamp has not been involved in any legal proceedings in the last 5 years nor have any fines been imposed for anti-competitive practices.

#### **Conflicts of Interest**

Beyond the Code of Conduct applicable to all employees and persons connected to them, in order to avoid conflicts of interest, **[Article 22 of the Board Regulations](https://www.gestamp.com/Gestamp11/media/GestampFiles/Shareholders%20Investors/Corporate%20Governance/Corporate%20Rules/Reglamento%20del%20Consejo/2021_03_29-Reglamento-CdA-(Modificacion-Comision-ESG).pdf?ext=.pdf)** stipulates that directors are required to inform the Board of Directors of any circumstances that may lead to a direct or indirect conflict of interest as soon as they become aware of such circumstance.

In any event, each member of the Board of Directors must abstain from attending and participating in deliberations and votes (including by means of proxy vote) concerning matters in which they or a related party, as defined in the applicable law, have a direct or indirect conflict of interest.

Additionally, directors should abstain from engaging in commercial or professional transactions that may lead to a conflict of interest, without having first informed and received approval from the Board of Directors, which shall request a report from the Audit Committee.

#### **Internal Code of Conduct Concerning Securities Markets**

The **[Internal Code of Conduct Concerning Securities Markets](https://www.gestamp.com/Gestamp11/media/GestampFiles/Shareholders%20Investors/Corporate%20Governance/Corporate%20Rules/Codigo%20Conducta/Reglamento-Interno-de-Conducta-(pdf).pdf?ext=.pdf)** determines the standards of conduct and action to be followed by those to whom they are addressed, including, but not limited to, the members of the Board of Directors, senior management, employees or external advisors who have access to insider information belonging to Gestamp, as well as those involved in handling, using and disseminating insider information, all for the purpose of fostering transparency, protecting the interests of investors with regard to Gestamp securities and avoiding any situation that potentially qualifies as market abuse.

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## ANNUAL REPORT 2023

Image /page/196/Picture/3 description: The image shows three horizontal lines above the word "INDEX". The lines are all the same length and thickness, and they are stacked on top of each other. The word "INDEX" is written in a sans-serif font and is located directly below the lines.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### **Intellectual and industrial property**

The company considers intellectual and industrial property rights, and the implementation of the related trade secrets and knowhow, to be integral to the competitive advantage of our business. Therefore, Gestamp focuses its efforts and invests resources in submitting, registering, maintaining, monitoring and defending our intellectual and industrial property rights.

These intellectual and industrial property rights cover both the technologies, processes and products encompassed in Gestamp's core business, as well as those technologies aimed at optimising and increasing the flexibility and efficiency of processes and the quality of the products in the area of Industry 4.0.

Many of the technologies and processes that we use stem from the knowledge, experience and skills of our scientific and technical personnel. In some cases, these technologies and processes are patented and protected through intellectual and industrial property rights, while others are protected through trade secrets. To protect our trade secrets, know-

As of 31 December 2023, Gestamp has more than 1,300 patents, utility models and corresponding applications.

how, technologies and processes, we formalise confidentiality agreements with employees, clients, suppliers, competitors, contractors, consultants, advisors and collaborators that prevent confidential information from being disclosed to third parties.

Gestamp protects its pre-existing intellectual and industrial property rights and does not transfer them to any collaboration partners, clients, suppliers, competitors or third parties. Where development agreements are formalised, we assert ownership over intellectual and industrial property rights that may arise in relation to those agreements and which are connected to or based on company know-how, trade secrets, technology and processes.

#### TACKLING THE ISSUE OF COUNTERFEIT PARTS

The use of original/authentic parts is a pre-requisite for the proper functioning and maintenance of vehicles throughout their service life.

Beyond the law's prohibition of using counterfeit parts, Gestamp is aware of how a counterfeit component can compromise the integrity of a vehicle in terms of safety and performance.

Gestamp has identified two stages in its manufacturing process in which there is a potential risk of counterfeit parts making their way into the value chain. Although there is a low likelihood of this happening, the company has established measures to reduce the risk to a minimum:

- **•** Acquisition of counterfeit parts in the purchasing process: as a first class supplier, most of the goods acquired by the company are materials; nevertheless, where a final product is acquired, suppliers must guarantee that there is no risk of selling counterfeit products to Gestamp.
- **•** Withdrawal of defective parts: the company takes care to ensure that non-compliant products that are not undergoing checks or repairs—and therefore must be discarded—are rendered unusable prior to disposal, to prevent their potential return to the supply chain as a counterfeit part.

Gestamp has built and maintains quality management systems that have the international certifications required by customers, above all the IATF 16949 standard. These management systems aid Gestamp's continuous improvement by focusing on the customer and promoting safe, sustainable prevention through detection, resulting in fewer defects and less waste in the supply chain.

The aim is to bring the whole of the company's manufacturing activity in line with the quality expectations of customers and with international standards, to ensure the maximum quality and efficiency of manufacturing processes, and to comply with customers' specifications throughout these processes until the delivery of the final product.

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### ANNUAL REPORT 2023

Image /page/197/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked vertically.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### **Personal Data Protection**

Gestamp is committed to the protection of personal data. Therefore, within the Group we are constantly adapting and boosting our resources to comply with the personal data protection legislation in force in the regions where Gestamp operates and/or carries out personal data processing activities.

In this regard, Gestamp has a **[Data Protection Policy](https://www.gestamp.com/data-protection-policy)** aligned with the General Data Protection Regulation 2016/679 of the European Parliament and of the Council of 27 April 2016 (GDPR), which sets out guarantees and principles, as well as the main obligations and rights in terms of personal data protection at Gestamp Group companies. This Data Protection Policy is the core of Gestamp Group's commitment to the protection of the fundamental rights and freedoms of natural persons and, in particular, their right to personal data protection.

Gestamp continually strives to implement any and all mechanisms that are required in order to ensure that personal data remain secure and to prevent tampering, loss, or unauthorised processing or access, even in regions that are beyond the scope of application of this GDPR, by adapting the Data Protection Policy to local laws. As such, Gestamp Group standards are applied across all regions in which we operate, are present and/or conduct personal data processing activities. Since these standards are based on the GDPR, in several regions they are stricter than national regulations.

Moreover, the Group has conducted a risk assessment of the corporate applications that process personal data, to evaluate the security measures implemented, and it has developed a procedure for the execution of privacy impact assessments (PIA) that determines the level of risk entailed whenever data

are processed with a view to establishing the most appropriate control measures to limit this risk.

Furthermore, the training of our employees is crucial to the success of any new project. Therefore, to ensure compliance with and implementation of the GDPR, the Group has offered faceto-face training sessions for certain corporate services employees who regularly work with personal data, thus providing them with theoretical and practical information about how to apply the GDPR. In addition, there is an online data protection training course available to employees free of charge and accessible at any time.

Image /page/197/Picture/18 description: A medium shot depicts an office setting with a man working at a desk in the foreground and a meeting room visible through a glass wall in the background. The man, who has a beard and is wearing a headset, is focused on a computer screen. His desk is cluttered with papers and office supplies, including a red document holder. Behind him, a glass wall separates his workspace from a meeting room. Inside the meeting room, a woman in a patterned dress is standing near a whiteboard, seemingly in the middle of a presentation or discussion. A conference table and chairs are arranged in the center of the room. The word "Gestamp" is visible on the glass wall, possibly indicating the name of the company. A projector is mounted on the ceiling of the meeting room. The overall lighting is bright, and the color palette is dominated by neutral tones, with accents of blue and red.

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[INDEX](#page-1-0)

[1. Letter from the Chairman](#page-2-0)

[4. Environmental Dimension](#page-59-0)

2023

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[5. Social Dimension](#page-107-0)

#### **Cybersecurity**

Gestamp's cybersecurity governance programme is built on the need to protect company data and safeguard the supply chain and business continuity processes.

#### STRATEGY

One of the major current challenges for Gestamp is cybersecurity, which is why its Strategic Cybersecurity Plan has been designed around risk management and is regularly revised in line with international standards and best practices. This includes projects and initiatives to facilitate adapting to new demands.

Gestamp strives to maintain is competitiveness by having a well-defined and informed strategy, with clear objectives that enhance surveillance, protection and resilience. It has 24/7 incident response support and monitoring services, with qualified staff overseeing the execution of the tasks and various initiatives, who are supported by specialist technical teams, tools and processes for both physical and logical security implemented in all its plants worldwide.

#### MANAGEMENT MODEL AND CERTIFICATIONS

The policies and strategy for cybersecurity at the company are set out by the IT department in cooperation with the company's business units, aligning the programme with business objectives.

#### Gestamp boasts:

**•** Joint efforts with major suppliers and relevant companies experienced in cybersecurity, who support Gestamp in the development and implementation of strategy with solutions adapted to the company's needs, in order to ensure the level of protection needed to address growing cyber threats and devise an effective response to potential cybersecurity incidents.

- **•** A body of cybersecurity under constant development, designed according to the best practices, standards and regulations in this area, which serves to optimise security capabilities, especially in terms of protecting assets, infrastructure and industrial systems.
- **•** Awareness-raising and training in cybersecurity, through regular campaigns with relevant topics on the subject, applicable to all the company's employees, thus strengthening the internal culture of cybersecurity.
- **•** A programme of initiatives for optimising processes and implementing technology and security solutions, for IT and OT environments that will help to boost e-skills within the company.
- **•** Constant progress in terms of resilience, incorporating regular response simulation exercises for incidents of cybersecurity, audits and threat exposure tests on the most critical business processes.

At Gestamp, our operational model and business continuity processes have been IATF certified, while our plants hold TISAX / VDA ISA certificates that ensure compliance with the best cybersecurity practices. Similarly, our partnerships with critical suppliers require specific certifications such as ISO 27001 to support Gestamp in its cybersecurity needs.

#### ACTIONS IN 2023

The new demands of the connected industry and digitalisation triggered several initiatives in 2023. The most noteworthy initiatives include:

- **•** Strengthening the capabilities within the Cybersecurity Governance, Risk and Compliance office.
- **•** Adjusting standards and policies within the organisation.
- **•** Implementation of security certifications to ensure best practices and cybersecurity requirements are met.
- **•** Developing and fostering a culture of cybersecurity.
- **•** Standardisation of the infrastructure supporting the business.
- **•** Optimising cybersecurity training and education programmes for all company employees.
- **•** Updating tools and mechanisms to strengthen resilience capacity.
- **•** Enhancing the capabilities of the Cybersecurity Operations Centre, optimising incident response and threat detection processes.
- **•** Introduction of new tools and technologies to accompany the business strategy.

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ANNUAL REPORT 20**23** | GESTAMP [INDEX](#page-1-0)

# <span id="page-199-0"></span>07 Annexes

- 7.1 [Tables and additional information](#page-200-0)
- 7.2 [Policies and other rules of the Group](#page-207-0)
- 7.3 [About this report](#page-208-0)
- 7.4 [Double materiality Methodology](#page-210-0)
- 7.5 [Table of contents](#page-214-0)
- 7.6 [GRI Standards Indicators](#page-220-0)
- 7.7 [SASB indicators](#page-224-0)
- 7.8 [UN Global Compact](#page-225-0)
- 7.9 [Companies of the Group](#page-226-0)
- 7.10 [Report on Independient Review](#page-228-0)

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ANNUAL REPORT 2023

[INDEX](#page-1-0)

# 7.1 Tables and additional information

Below are some of the data tables from the Talent chapter:

#### (I) DISTRIBUTION OF EMPLOYEES BY TYPE OF CONTRACT AND COUNTRY

|                             | Country        | Total direct<br>employees | Open Ended | Fixed Term | Apprenticeship | Internships | Total<br>external<br>employees | Total direct and<br>external<br>employees |
|-----------------------------|----------------|---------------------------|------------|------------|----------------|-------------|--------------------------------|-------------------------------------------|
| 1. Letter from the Chairman |                |                           |            |            |                |             |                                |                                           |
|                             | Argentina      | 922                       | 901        | 9          | 11             | 1           | -                              | 922                                       |
|                             | Brazil         | 5,127                     | 4,994      | 54         | 60             | 19          | 124                            | 5,251                                     |
| 2. Gestamp Group            | Bulgaria       | 204                       | 204        | -          | -              | -           | 13                             | 217                                       |
|                             | China          | 5,288                     | 4,545      | 738        | 2              | 3           | 1,655                          | 6,943                                     |
|                             | Czech Republic | 1,555                     | 1,120      | 432        | -              | 3           | 251                            | 1,806                                     |
|                             | France         | 1,602                     | 1,550      | 7          | 41             | 4           | 209                            | 1,811                                     |
| 3. ESG Perspective          | Germany        | 3,986                     | 3,469      | 361        | 145            | 11          | 190                            | 4,176                                     |
|                             | Hungary        | 497                       | 497        | -          | -              | -           | -                              | 497                                       |
|                             | India          | 1,007                     | 924        | 55         | 28             | -           | 577                            | 1,584                                     |
|                             | Japan          | 107                       | 105        | 2          | -              | -           | 50                             | 157                                       |
| 4. Environmental Dimension  | Mexico         | 3,502                     | 3,223      | 279        | -              | -           | 24                             | 3,526                                     |
|                             | Morocco        | 277                       | 112        | 46         | 28             | 91          | 43                             | 320                                       |
|                             | Poland         | 1,181                     | 772        | 376        | 33             | -           | 201                            | 1,382                                     |
| 5. Social Dimension         | Portugal       | 1,167                     | 985        | 172        | -              | 10          | 258                            | 1,425                                     |
|                             | Romania        | 794                       | 794        | -          | -              | -           | 44                             | 838                                       |
|                             | Russian Fed.   | 222                       | 217        | 5          | -              | -           | 6                              | 228                                       |
|                             | Slovakia       | 433                       | 283        | 150        | -              | -           | 58                             | 491                                       |
| 6. Governance               | South Korea    | 171                       | 169        | 2          | -              | -           | 72                             | 243                                       |
|                             | Spain          | 6,104                     | 5,667      | 375        | 35             | 27          | 249                            | 6,353                                     |
|                             | Sweden         | 249                       | 237        | 12         | -              | -           | 10                             | 259                                       |
| 7. Annexes                  | Taiwan         | 15                        | 15         | -          | -              | -           | -                              | 15                                        |
|                             | Thailand       | 11                        | 11         | -          | -              | -           | 31                             | 42                                        |
|                             | Turkey         | 3,841                     | 3,841      |            | -              | -           | 285                            | 4,126                                     |
|                             | United Kingdom | 1,844                     | 1,791      | 4          | 48             | 1           | 456                            | 2,300                                     |
|                             | USA            | 4,156                     | 4,140      | 4          | 5              | 7           | 698                            | 4,854                                     |
|                             | Total 2023     | 44,262                    | 40,566     | 3,083      | 436            | 177         | 5,504                          | 49,766                                    |
|                             | Total 2022     | 42,670                    | 39,248     | 2,966      | 381            | 75          | 5,223                          | 47,893                                    |

#### (II) NUMBER OF PERMANENT STAFF BY TYPE OF CONTRACT AND TYPE OF LABOUR\*

| Type of contract    | Direct labour (DL) | Indirect labour (IL) | Regular labour (RL) | Total 2023 |
|---------------------|--------------------|----------------------|---------------------|------------|
| Open Ended (FT)     | 16,671             | 13,605               | 9,287               | 39,563     |
| Open Ended (PT)     | 142                | 82                   | 164                 | 388        |
| Fixed Term (FT)     | 1,819              | 642                  | 316                 | 2,777      |
| Fixed Term (PT)     | 467                | 68                   | 45                  | 579        |
| Apprenticeship (FT) | 96                 | 303                  | 68                  | 467        |
| Apprenticeship (PT) | 1                  | 2                    | 9                   | 12         |
| Internships (FT)    | 23                 | 11                   | 56                  | 91         |
| Internships (PT)    | 2                  | 1                    | 11                  | 15         |
| Total 2023          | 19,221             | 14,716               | 9,956               | 43,893     |

#### 2022

2023

| Type of contract    | Direct labour (DL) | Indirect labour (IL) | Regular labour (RL) | Total 2022 |
|---------------------|--------------------|----------------------|---------------------|------------|
| Open Ended (FT)     | 16,044             | 12,936               | 8,778               | 37,759     |
| Open Ended (PT)     | 154                | 87                   | 160                 | 401        |
| Fixed Term (FT)     | 1,523              | 689                  | 285                 | 2,497      |
| Fixed Term (PT)     | 434                | 75                   | 35                  | 544        |
| Apprenticeship (FT) | 11                 | 243                  | 59                  | 313        |
| Apprenticeship (PT) | 0                  | 15                   | 4                   | 19         |
| Internships (FT)    | 2                  | 13                   | 53                  | 68         |
| Internships (PT)    | 1                  | 5                    | 10                  | 15         |
| Total 2022          | 18.170             | 14.062               | 9.383               | 41.616     |

\*The table includes the average workforce of the whole Group, 100% of companies considered. The information presented relates to 2022 and 2023 FT: Full-time hours PT: Part-time hours

The table includes the average workforce of the whole Group, 100% of companies considered

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<span id="page-201-0"></span>Image /page/201/Picture/0 description: The image shows the word "Gestamp" in a bold, sans-serif font, colored in a dark blue. To the right of the word is a square containing a stylized white graphic that resembles a curved line with a small circle at the end, set against a dark blue background.

(III) NUMBER OF PERMANENT STAFF BY TYPE OF CONTRACT, AGE AND GENDER\*

Type of contract <36 36-55 >55 Men Women Total Open Ended (FT) 12,328 18,112 3,569 27,805 6,203 34,009 Open Ended (PT) 67 221 93 190 190 380 **Total Open Ended 12,395 18,333 3,661 27,995 6,393 34,389**  Fixed Term (FT) 1,610 956 118 1,854 830 2,685 Fixed Term (PT) 306 122 151 416 164 579 **Total Fixed Term 1,916 1,078 269 2,270 994 3,264**  Apprenticeship (FT) 361 5 - 303 63 366 Apprenticeship (PT) 12 - - 9 3 12 **Total Apprenticeship 373 5 - 313 65 378**  Internships (FT) 68 - - 42 26 68 Internships (PT) 14 1 - 9 6 15 **Total Internship 82 1 - 51 32 83 Total 2023 14,766 19,417 3,931 30,630 7,484 38,114**

2023 2022

ANNUAL REPORT 2023

[INDEX](#page-1-0)

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

Type working day <36 36-55 >55 Men Women Total Full Time 14,367 19,074 3,687 30,005 7,122 37,127 Part Time 399 344 244 624 363 987 **Total 2023 14,766 19,417 3,931 30,630 7,484 38,114** Type working day <36 36-55 >55 Men Women Total Full Time 13,783 18,064 3,507 28,809 6,545 35,354 Part Time 281 303 258 521 321 842 **Total 2022 14,064 18,367 3,765 29,330 6,866 36,196**

> \*The tables include the average workforce of the companies that are covered by the corporate IT system, which comprises all the regions with the most significant countries where Gestamp has total management control, the scope is 87% of companies. The information presented relates to 2022 and 2023 FT: Full-time hours

Type of contract <36 36-55 >55 Men Women Total Open Ended (FT) 11,999 17,224 3,391 26,820 5,795 32,614 Open Ended (PT) 76 226 94 193 204 397 **Total Open Ended 12,075 17,450 3,486 27,012 5,999 33,011**  Fixed Term (FT) 1,408 834 117 1,688 672 2,359 Fixed Term (PT) 172 76 163 301 110 411 **Total Fixed Term 1,581 910 280 1,989 782 2,771** Apprenticeship (FT) 308 5 - 252 61 313 Apprenticeship (PT) 19 - - 18 1 19 **Total Apprenticeship 327 5 - 269 62 331** Internships (FT) 67 1 0 50 18 68 Internships (PT) 14 1 - 10 6 15 **Total Internship 81 2 0 60 24 83 Total 2022 14,064 18,367 3,765 29,330 6,866 36,196**

PT: Part-time hours

#### [7. Annexes](#page-199-0)

[6. Governance](#page-155-0)

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<span id="page-202-0"></span>Image /page/202/Picture/0 description: The image shows the word "Gestamp" in a bold, sans-serif font, colored in a dark blue. To the right of the word is a square containing a stylized white graphic that resembles a curved line with a small circle at the end, set against a dark blue background.

#### ANNUAL REPORT 2023

[1. Letter from the Chairman](#page-2-0)

[INDEX](#page-1-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

| AGE AND REGION* |                                                                     |                                                 |              |              |                |                             |      |
|-----------------|---------------------------------------------------------------------|-------------------------------------------------|--------------|--------------|----------------|-----------------------------|------|
|                 | Voluntary turnover rate (VTR) and number of voluntary redundancies: | Total turnover rate and number of redundancies: |              |              |                |                             |      |
| Country         | 2022 Vol.<br>Redundancies                                           | 2023 Vol.<br>Redundancies                       | VTR 2022 (%) | VTR 2023 (%) | Region         | No. of redundancies<br>2022 | % To |
| Argentina       | 24                                                                  | 17                                              | 2.9%         | 1.9%         | Asia           | 1,349                       |      |
| Brazil          | 241                                                                 | 247                                             | 5.5%         | 4.9%         | Eastern Europe | 1,477                       |      |
| Bulgaria        | 30                                                                  | 47                                              | 17.1%        | 23.0%        | North America  | 3,380                       |      |
| China           | 878                                                                 | 928                                             | 22.5%        | 20.4%        | South America  | 780                         |      |
| Czech Republic  | 200                                                                 | 150                                             | 16.2%        | 13.4%        | Western Europe | 1,262                       |      |
| France          | 88                                                                  | 102                                             | 5.7%         | 6.6%         | Total Gestamp  | 8,248                       |      |
| Germany         | 202                                                                 | 195                                             | 5.8%         | 5.6%         |                |                             |      |
| Hungary         | 124                                                                 | 98                                              | 25.0%        | 19.7%        |                |                             |      |
| India           | 139                                                                 | 132                                             | 16.4%        | 14.3%        |                |                             |      |

(IV) TURNOVER RATE (TOTAL AND VOLUNTARY) AND NUMBER OF REDUNDANCIES BY GENDER,

Japan 11 **8** 13.5% **7.6%** Mexico 460 **411** 16.0% **12.8%** Morocco - **15** 0.0% **13.4%** Poland 76 **32** 9.7% **4.1%** Portugal 96 **48** 9.7% **4.9%** Romania 95 **86** 23.6% **10.8%** Russian Fed. 42 **13** 10.5% **6.0%** Slovakia 17 **21** 6.5% **7.4%** South Korea 35 **28** 19.8% **16.6%** Spain 154 **157** 2.9% **2.8%** Sweden 28 **18** 12.1% **7.6%** Taiwan - **2** 0.0% **13.3%** Thailand 0 **0** 0.0% **0.0%** Turkey 292 **931** 7.9% **24.2%** United Kingdom 211 **160** 11.5% **8.9%** USA 1,799 **1,109** 44.8% **26.8% Total 5,242 4,955 13.7% 12.2%**

| Region         | No. of redundancies<br>2022 | % Total turnover 2022 | No. of redundancies<br>2023 | % Total turnover 2023 |
|----------------|-----------------------------|-----------------------|-----------------------------|-----------------------|
| Asia           | 1,349                       | 26.8%                 | 1,361                       | 23.6%                 |
| Eastern Europe | 1,477                       | 19.8%                 | 915                         | 12.1%                 |
| North America  | 3,380                       | 49.0%                 | 2,686                       | 37.6%                 |
| South America  | 780                         | 14.9%                 | 870                         | 15.0%                 |
| Western Europe | 1,262                       | 9.4%                  | 945                         | 6.9%                  |

100% Scope of the consolidation perimeter. The total turnover rate is calculated as the percentage of redundancies for the average workforce of each company. This has been calculated for permanent personnel.

**Total Gestamp 8,248 21.7% 6,777 17.0%**

\* 100% Scope of the consolidation perimeter. Voluntary turnover rate for employees with indefinite-term contracts.

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Image /page/203/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, dark blue font. To the right of the word is a blue square containing a white graphic that resembles a stylized letter "G" or a curved line with a circle at the end.

ANNUAL REPORT 2023

Image /page/203/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked vertically.

[1. Letter from the Chairman](#page-2-0)

| 2. Gestamp Group |  |
|------------------|--|

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

| 2022           |                     |                   |       | 2023                |                   |       |       |       |
|----------------|---------------------|-------------------|-------|---------------------|-------------------|-------|-------|-------|
|                | No. of redundancies | % of redundancies |       | No. of redundancies | % of redundancies |       |       |       |
|                | Women               | Men               | Women | Men                 | Women             | Men   |       |       |
| Asia           | 178                 | 1,159             | 25.1% | 27.3%               | 157               | 1,201 | 18.9% | 24.9% |
| <36            | 122                 | 831               | 38.9% | 34.3%               | 108               | 887   | 29.1% | 33.2% |
| 36-55          | 55                  | 312               | 14.0% | 17.8%               | 47                | 308   | 10.4% | 14.8% |
| >55            | 1                   | 16                | 19.9% | 22.9%               | 2                 | 6     | 38.8% | 9.0%  |
| Eastern Europe | 121                 | 405               | 15.7% | 23.4%               | 79                | 188   | 11.1% | 12.6% |
| <36            | 46                  | 229               | 18.5% | 29.6%               | 26                | 108   | 11.5% | 18.7% |
| 36-55          | 58                  | 150               | 13.0% | 18.4%               | 39                | 67    | 9.4%  | 8.6%  |
| >55            | 17                  | 26                | 21.8% | 18.1%               | 14                | 13    | 19.5% | 9.8%  |
| North America  | 1,025               | 2,355             | 60.2% | 45.3%               | 769               | 1,917 | 41.3% | 36.2% |
| <36            | 622                 | 1,292             | 76.2% | 52.3%               | 450               | 1,073 | 49.9% | 43.8% |
| 36-55          | 355                 | 881               | 48.3% | 39.5%               | 288               | 735   | 36.0% | 31.6% |
| >55            | 48                  | 182               | 31.8% | 36.8%               | 31                | 109   | 19.4% | 21.1% |
| South America  | 118                 | 662               | 16.9% | 14.6%               | 114               | 756   | 14.6% | 15.0% |
| <36            | 68                  | 367               | 20.2% | 18.6%               | 61                | 434   | 17.1% | 19.8% |
| 36-55          | 50                  | 274               | 14.1% | 11.5%               | 53                | 313   | 12.8% | 11.8% |
| >55            | -                   | 21                | 0.0%  | 12.7%               | -                 | 9     | 0.0%  | 4.8%  |
| Western Europe | 236                 | 1,022             | 11.2% | 9.1%                | 182               | 755   | 8.3%  | 6.7%  |
| <36            | 95                  | 297               | 21.2% | 13.2%               | 63                | 273   | 13.5% | 12.5% |
| 36-55          | 91                  | 355               | 6.5%  | 5.1%                | 85                | 300   | 5.8%  | 4.3%  |
| >55            | 50                  | 370               | 19.2% | 17.5%               | 34                | 182   | 12.1% | 8.2%  |
| Total          | 1,678               | 5,603             | 28.0% | 20.8%               | 1,301             | 4,817 | 20.4% | 17.2% |
| <36            | 953                 | 3,016             | 44.0% | 30.5%               | 708               | 2,775 | 30.5% | 27.6% |
| 36-55          | 609                 | 1,972             | 18.3% | 14.0%               | 512               | 1,723 | 14.5% | 11.7% |
| >55            | 116                 | 615               | 23.1% | 20.6%               | 81                | 319   | 15.4% | 10.2% |

Total turnover rate and number of departures:

The scope is 87% of the Group companies.

The total turnover rate is calculated as the percentage of redundancies for the average workforce of each company. This has been calculated for permanent personnel.

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| 7. ANNEXES | 7.1 Tables and additional information | 7.2 Policies and other rules of the Group | 7.3 About this report | 7.4 Double materiality Methodology | 7.5 Table of content              |  |
|------------|---------------------------------------|-------------------------------------------|-----------------------|------------------------------------|-----------------------------------|--|
|            | 7.6 GRI Standards Indicators          | 7.7 SASB indicators                       | 7.8 UN Global Compact | 7.9 Companies of the Group         | 7.10 Report on Independent Review |  |

#### (V) REGISTRATIONS BY GENDER, AGE AND COUNTRY\*

| Country                                  | Nº<br>Female | %<br>Female | Nº<br>Male | %<br>Male | Nº Total<br>2022 | % Total<br>2022 | Nº<br>Female | %<br>Female | Nº<br>Male | %<br>Male | Nº Total<br>2023 | % Total<br>2023 |
|------------------------------------------|--------------|-------------|------------|-----------|------------------|-----------------|--------------|-------------|------------|-----------|------------------|-----------------|
| Argentina                                | 20           | 26%         | 79         | 9%        | 99               | 12%             | 19           | 24%         | 73         | 9%        | 92               | 10%             |
| Brazil                                   | 242          | 30%         | 1,219      | 29%       | 1,461            | 30%             | 206          | 26%         | 1,065      | 25%       | 1,271            | 25%             |
| China                                    | 440          | 43%         | 2,359      | 64%       | 2,799            | 57%             | 357          | 35%         | 1,536      | 36%       | 1,893            | 36%             |
| INDEXCzech Republic                      | 137          | 22%         | 282        | 19%       | 419              | 29%             | 251          | 40%         | 275        | 30%       | 526              | 34%             |
| France                                   | 52           | 17%         | 148        | 9%        | 200              | 12%             | 44           | 15%         | 137        | 11%       | 181              | 11%             |
| Germany                                  | 54           | 13%         | 255        | 6%        | 309              | 8%              | 120          | 29%         | 448        | 13%       | 568              | 14%             |
| India                                    | 22           | 35%         | 144        | 17%       | 166              | 19%             | 59           | 94%         | 194        | 21%       | 254              | 25%             |
| 1. Letter from the ChairmanJapan         | 5            | 33%         | 15         | 18%       | 20               | 22%             | 4            | 27%         | 26         | 28%       | 30               | 28%             |
| Mexico                                   | 795          | 76%         | 1,241      | 40%       | 2,036            | 62%             | 780          | 75%         | 1,293      | 53%       | 2,074            | 59%             |
| Poland                                   | 71           | 25%         | 178        | 16%       | 249              | 21%             | 27           | 9%          | 163        | 18%       | 190              | 16%             |
| 2. Gestamp GroupPortugal                 | 69           | 15%         | 81         | 6%        | 150              | 12%             | 50           | 11%         | 55         | 8%        | 105              | 9%              |
| Russian Fed.                             | 8            | 10%         | 10         | 2%        | 18               | 8%              | 2            | 3%          | 1          | 1%        | 3                | 1%              |
| Slovakia                                 | 51           | 31%         | 65         | 19%       | 116              | 29%             | 57           | 34%         | 87         | 33%       | 144              | 33%             |
| South Korea                              | -            | 0%          | 35         | 20%       | 35               | 19%             | -            | 0%          | 6          | 4%        | 6                | 4%              |
| 3. ESG PerspectiveSpain                  | 323          | 29%         | 974        | 17%       | 1,297            | 22%             | 336          | 30%         | 714        | 14%       | 1,050            | 17%             |
| Sweden                                   | 16           | 36%         | 30         | 12%       | 46               | 19%             | 13           | 29%         | 28         | 14%       | 41               | 17%             |
| Taiwan                                   | -            | 0%          | 2          | 12%       | 2                | 11%             | -            | 0%          | -          | 0%        | -                | 0%              |
| 4. Environmental DimensionUnited Kingdom | 55           | 26%         | 211        | 11%       | 266              | 15%             | 55           | 26%         | 193        | 12%       | 248              | 13%             |
| USA                                      | 796          | 79%         | 1,876      | 47%       | 2,672            | 65%             | 556          | 55%         | 1,444      | 46%       | 2,001            | 48%             |
| Total Gestamp                            | 3,156        | 36%         | 9,204      | 23%       | 12,360           | 29%             | 2,936        | 33%         | 7,738      | 22%       | 10,680           | 24%             |

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

\*The percentages in the table represent the proportion of new hires compared to the total workforce in this group of employees.

The tables include the average workforce of the companies that are covered by the corporate IT system, which comprises all the regions with the most significant countries where Gestamp has total management control, the scope is 87% of the Group companies.

| 2022                |         |       |           |         |         |       |                | 2023         |         |       |           |         |         |       |                |              |
|---------------------|---------|-------|-----------|---------|---------|-------|----------------|--------------|---------|-------|-----------|---------|---------|-------|----------------|--------------|
|                     | N o <36 | % <36 | N o 36-55 | % 36-55 | N o >55 | % >55 | N o Total 2022 | % Total 2022 | N o <36 | % <36 | N o 36-55 | % 36-55 | N o >55 | % >55 | N o Total 2023 | % Total 2023 |
| Total Registrations | 8,189   | 47%   | 3,876     | 18%     | 295     | 7%    | 12,360         | 29%          | 7,047   | 40%   | 3,334     | 15%     | 299     | 7%    | 10,680         | 24%          |

\*The percentages in the table represent the proportion of new hires compared to the total workforce in this group of employees.

The total number of new hires in 2023 represents 24% of the Group's workforce. In countries such as Mexico and the USA, the number of new hires during the year represents 59% and 48%, respectively, of the Group's workforce in these countries. In addition to this volume of hires, in 2023, the number of vacancies covered internally amounted to 51% of the total number of internal and external hires.

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<span id="page-205-0"></span>Image /page/205/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in a dark blue color. To the right of the word is a square containing a white graphic that resembles a stylized "G" or a curved line with a circle at the end, also in white, against a dark blue background.

 **2,326 2,416** 

#### ANNUAL REPORT 2023

Image /page/205/Picture/3 description: The image shows the word "INDEX" in a teal color, with three horizontal lines above it. The lines are also teal and are stacked on top of each other.

|       | Direct Labour | Indirect<br>Labour | Regular<br>Labour | Women | Men  | Total 2023 | Total 2022 |
|-------|---------------|--------------------|-------------------|-------|------|------------|------------|
| <36   | 947           | 351                | 83                | 320   | 1061 | 1,381      | 1,422      |
| 36-55 | 425           | 293                | 117               | 204   | 631  | 835        | 854        |
| >55   | 44            | 43                 | 23                | 20    | 90   | 110        | 141        |

\*Employee layoffs of the companies that are covered by the corporate IT system (87% of companies) which comprises all the regions

(VI) LAYOFFS BY GENDER, AGE AND PROFESSIONAL CLASSIFICATION\*

**Total 2023 1,416 687 223 544 1,782**

**Total 2022 1,571 629 216 582 1,834**

with the most significant countries where Gestamp has total management control.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### (VII) TOTAL HOURS WORKED AND ABSENTEEISM HOURS BY COUNTRY

100% Scope of the consolidation perimeter. The total Absenteeism Hours does not include leave (permitted and excused absences), strikes or trade union hours.

| Country        | Planned<br>working hours<br>2022 | Abs. hours | 2022 Abs. (%) 2022 | Planned<br>working hours<br>2023 | Abs. hours | 2023 Abs. (%) 2023 |
|----------------|----------------------------------|------------|--------------------|----------------------------------|------------|--------------------|
| Argentina      | 1,611,035                        | 82,666     | 5.1%               | 1,649,227                        | 73,572     | 4.5%               |
| Brazil         | 8,527,580                        | 366,407    | 4.3%               | 9,427,395                        | 314,392    | 3.3%               |
| Bulgaria       | 317,671                          | 21,224     | 6.7%               | 346,857                          | 24,538     | 7.1%               |
| China          | 7,787,016                        | 126,936    | 1.6%               | 9,075,506                        | 134,928    | 1.5%               |
| Czech Republic | 2,431,210                        | 247,439    | 10.2%              | 2,260,533                        | 192,294    | 8.5%               |
| France         | 2,733,523                        | 225,718    | 8.3%               | 2,715,260                        | 179,952    | 6.6%               |
| Germany        | 6,387,487                        | 667,117    | 10.4%              | 6,330,776                        | 632,552    | 10.0%              |
| Hungary        | 844,566                          | 82,094     | 9.7%               | 831,245                          | 64,386     | 7.7%               |
| India          | 2,132,054                        | 75,231     | 3.5%               | 2,176,160                        | 77,751     | 3.6%               |
| Japan          | 96,987                           | 363        | 0.4%               | 120,330                          | 1,030      | 0.9%               |
| Mexico         | 7,714,883                        | 243,349    | 3.2%               | 8,231,712                        | 234,700    | 2.9%               |
| Morocco        | 0                                | 0          | 0.0%               | 651,066                          | 34,396     | 5.3%               |
| Poland         | 2,024,391                        | 170,138    | 8.4%               | 2,142,071                        | 147,643    | 6.9%               |
| Portugal       | 2,246,209                        | 139,208    | 6.2%               | 2,151,334                        | 144,695    | 6.7%               |
| Romania        | 817,370                          | 22,490     | 2.8%               | 992,812                          | 29,280     | 2.9%               |
| Russian Fed.   | 663,377                          | 23,268     | 3.5%               | 357,397                          | 8,568      | 2.4%               |
| Slovakia       | 684,007                          | 38,290     | 5.6%               | 798,007                          | 51,961     | 6.5%               |
| South Korea    | 289,175                          | 66         | 0.0%               | 334,900                          | 22         | 0.0%               |
| Spain          | 8,870,880                        | 652,900    | 7.4%               | 8,951,966                        | 634,595    | 7.1%               |
| Sweden         | 451,937                          | 19,104     | 4.2%               | 414,185                          | 20,608     | 5.0%               |
| Taiwan         | 29,791                           | 648        | 2.2%               | 29,160                           | 0          | 0.0%               |
| Thailand       | 19,232                           | 0          | 0.0%               | 20,496                           | 0          | 0.0%               |
| Turkey         | 7,727,740                        | 242,651    | 3.1%               | 8,566,904                        | 245,694    | 2.9%               |
| United Kingdom | 3,158,056                        | 138,970    | 4.4%               | 3,059,998                        | 127,227    | 4.2%               |
| USA            | 7,372,266                        | 150,808    | 2.0%               | 7,377,743                        | 102,508    | 1.4%               |
| Total Gestamp  | 74,938,444                       | 3,737,085  | 5.0%               | 79,013,041                       | 3,477,290  | 4.4%               |

100% Scope of the consolidation perimeter. The total Absenteeism Hours does not include leave (permitted and excused absences), strikes or trade union hours. The absenteeism rate is a ratio of the total absenteeism hours of the group to the total planned working hours.

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<span id="page-206-0"></span>Image /page/206/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in dark blue. To the right of the word is a square containing a stylized image of a curved line with a circle at the end, also in white against a dark blue background.

ANNUAL REPORT 2023

# [INDEX](#page-1-0)

#### [1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

|                | Total Employees |      | Women |       | Men    |       | < 25 years old |       | Indefinite-term contract |       | Professional youth training |       | Disability |      | At the company > 10 years |       |
|----------------|-----------------|------|-------|-------|--------|-------|----------------|-------|--------------------------|-------|-----------------------------|-------|------------|------|---------------------------|-------|
|                | No.             | %    | No.   | %     | No.    | %     | No.            | %     | No.                      | %     | No.                         | %     | No.        | %    | No.                       | %     |
| Asia           | 6,599           | 15%  | 1,124 | 12.8% | 5,475  | 15.4% | 824            | 17.4% | 5,769                    | 14.2% | 33                          | 5.4%  | 24         | 0.1% | 1,460                     | 10.3% |
| Eastern Europe | 8,727           | 20%  | 2,158 | 24.6% | 6,569  | 18.5% | 1,083          | 22.9% | 7,728                    | 19.1% | 36                          | 5.9%  | 151        | 0.3% | 1,575                     | 11.2% |
| North America  | 7,658           | 17%  | 2,044 | 23.3% | 5,614  | 15.8% | 945            | 20.0% | 7,363                    | 18.2% | 12                          | 2.0%  | 17         | 0.0% | 815                       | 5.8%  |
| South America  | 6,049           | 14%  | 874   | 10.0% | 5,175  | 14.6% | 908            | 19.2% | 5,895                    | 14.5% | 91                          | 14.8% | 283        | 0.6% | 1,728                     | 12.2% |
| Western Europe | 15,229          | 34%  | 2,572 | 29.3% | 12,657 | 35.7% | 963            | 20.4% | 13,811                   | 34.0% | 441                         | 71.9% | 477        | 1.1% | 8,536                     | 60.5% |
| Total Gestamp  | 44,262          | 100% | 8,772 | 19.8% | 35,490 | 80.2% | 4,723          | 10.7% | 40,566                   | 91.6% | 613                         | 1.4%  | 952        | 2.2% | 14,114                    | 31.9% |

100% Scope of the consolidation perimeter. Workforce at 31 December each year shown in the above chart.

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<span id="page-207-0"></span>Image /page/207/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in a dark blue color. To the right of the word is a square box, also in dark blue, containing a white graphic of curved lines.

## ANNUAL REPORT 2023

# [INDEX](#page-1-0)

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

# 7.2 Polices and other rules of the Group

The company's Sustainable Management Model is supported by the Group's main Policies and Standards, published on the Gestamp website in several languages and communicated in some cases to all employees in their local language.

#### [Code of Conduct](https://www.gestamp.com/About-Us/Vision-Corporate-Principles/Code-of-conduct?ext=.)

[ESG Policy](https://www.gestamp.com/Gestamp11/media/GestampFiles/Sustainability/Politics/ES/2024_02_27-Politica-ESG.pdf?ext=.pdf) [Social Action Policy](https://www.gestamp.com/Gestamp11/media/GestampFiles/Sustainability/Sustainability%20at%20Gestamp/2022_11_07-Social-Action-Policy_Gestamp.pdf?ext=.pdf) [Environmental Policy](https://www.gestamp.com/Gestamp11/media/GestampFiles/Sustainability/Environment/Environmental%20management/2021_02_24_Environmental-Policy-SP-(V4).pdf?ext=.pdf) [Health and Safety Policy](https://www.gestamp.com/Gestamp11/media/GestampFiles/Sustainability/Commitments/Health%20and%20safety/Healthy-Safety-Policy-at-Gestamp-(pdf).pdf?ext=.pdf) [Human Rights Policy](https://www.gestamp.com/Gestamp11/media/GestampFiles/Sustainability/Sustainability%20at%20Gestamp/HumanRightsPolicy-Gestamp.pdf?ext=.pdf) [Conflict Minerals Policy](https://www.gestamp.com/Gestamp11/media/GestampFiles/Sustainability/Politics/EN/Conflict-Minerals-Policy-FINAL.pdf?ext=.pdf) [Purchasing Policy](https://www.gestamp.com/Suppliers/Purchasing-Policy?ext=.) [ESG Requirements for suppliers](https://www.gestamp.com/Gestamp11/media/GestampFiles/Sustainability/Commitments/Supply%20Chain/ESG-REQUIREMENTS-FOR-SUPPLIERS.pdf?ext=.pdf) Selection and Training Policy [Anti-Corruption and Anti-Fraud Policy](https://www.gestamp.com/Gestamp11/media/GestampFiles/Shareholders%20Investors/Corporate%20Governance/Corporate%20Policies/Pol%c3%adtica%20anticorrupci%c3%b3n%20y%20fraude/2018_12_11-Anti-Corruption-and-Anti-Fraud-Policy-VWEB.pdf?ext=.pdf)  [Data Protection Policy](https://www.gestamp.com/Gestamp11/media/GestampFiles/Shareholders%20Investors/Corporate%20Governance/Corporate%20Policies/Data%20Protection/Data-Protection-Policy.pdf?ext=.pdf) [Tax Strategy](https://www.gestamp.com/Gestamp11/media/GestampFiles/Shareholders%20Investors/Corporate%20Governance/Corporate%20Policies/Tax%20Estrategy/Tax-Strategy-Gestamp.pdf?ext=.pdf) [Quality Policy](https://www.gestamp.com/Gestamp11/media/GestampFiles/Sustainability/Commitments/Operational%20Excelence/Quality-Policy.pdf?ext=.pdf) [Innovation Policy](https://www.gestamp.com/Gestamp11/media/GestampFiles/Sustainability/Politics/EN/Innovation-Policy.pdf?ext=.pdf) [Innovation Vision & Strategy](https://www.gestamp.com/Gestamp11/media/GestampFiles/Sustainability/Politics/EN/Innovation-vision-and-strategy.pdf?ext=.pdf) [General Information Security Policy](https://www.gestamp.com/Gestamp11/media/GestampFiles/Shareholders%20Investors/Corporate%20Governance/Corporate%20Policies/Information%20Security%20Policy/2023_02_27-General-Information-Security-Policy.pdf?ext=.pdf) Compliance Policy Third Party Due Diligence Policy

## POLICIES AND REGULES OF GOVERNMENT BODIES

#### [Company By-Laws](https://www.gestamp.com/Gestamp11/media/GestampFiles/Shareholders%20Investors/Corporate%20Governance/Corporate%20Rules/Estatutos%20Sociales/2022_04_06-Bylaws-proposal-(clean).pdf?ext=.pdf)

[Regulations of the Board of Directors](https://www.gestamp.com/Gestamp11/media/GestampFiles/Shareholders%20Investors/Corporate%20Governance/Corporate%20Rules/Reglamento%20del%20Consejo/2021_03_29-Regulations-of-the-Board.pdf?ext=.pdf) [Regulations of the General Shareholders' Meeting](https://www.gestamp.com/Gestamp11/media/GestampFiles/Shareholders%20Investors/Corporate%20Governance/Corporate%20Rules/Reglamento%20Junta/2021_03_29-Reglamento-JGA-ENG.pdf?ext=.pdf) [Corporate Governance Policy](https://www.gestamp.com/Gestamp11/media/GestampFiles/Shareholders%20Investors/Corporate%20Governance/Corporate%20Policies/Corporate%20Governance/2022_07_26-Corporate-Governance-Policy-(EN)-Vweb.pdf?ext=.pdf) [Selection and Diversity Policy of the Board of Directors](https://www.gestamp.com/Gestamp11/media/GestampFiles/Shareholders%20Investors/Corporate%20Governance/Corporate%20Policies/Selection%20and%20Diversity/2022_07_26-Gestamp_Selection-Policy-of-the-members-the-Bod-(EN)-VWEB.pdf?ext=.pdf) [Directors' Remuneration Policy](https://www.gestamp.com/Gestamp11/media/GestampFiles/Shareholders%20Investors/Corporate%20Governance/Corporate%20Policies/Director%20Remuneration/DOC-12B-Directors-Remuneration-Policy-2024-2026.pdf?ext=.pdf) [Dividend Policy](https://www.gestamp.com/Gestamp11/media/GestampFiles/Shareholders%20Investors/Corporate%20Governance/Corporate%20Policies/Dividend%20Policy/2018_12_17-Politica-de-dividendos_v9_EN.pdf?ext=.pdf) [Code of Conduct in the Securities Markets](https://www.gestamp.com/Gestamp11/media/GestampFiles/Shareholders%20Investors/Corporate%20Governance/Corporate%20Rules/Codigo%20Conducta/2017_03_03-Code-of-Conduct-in-the-Securities-Markets-ENG-VWEB.pdf?ext=.pdf) [Policy on communication and contact with shareholders](https://www.gestamp.com/Gestamp11/media/GestampFiles/Shareholders%20Investors/Corporate%20Governance/Corporate%20Policies/Communication/2021_02_24_Policy-on-communication-and-contact-with-shareholders.pdf?ext=.pdf)

Image /page/207/Picture/18 description: The image shows a close-up of the Gestamp logo on a dark blue surface. The logo is silver and consists of the word "Gestamp" in a sans-serif font, followed by a square containing a stylized image of a curved line.

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#### ANNUAL REPORT 2023

Image /page/208/Picture/3 description: The image shows three horizontal lines above the word "INDEX". The lines are all the same length and are stacked on top of each other. The word "INDEX" is in a sans-serif font and is located directly below the lines.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

# 7.3 About this report

## SCOPE AND COVERAGE

This Annual Report refers to Gestamp's performance regarding sustainability for the period from 1 January to 31 December 2023. The content has been prepared in order to constitute the 2023 Non-Financial Information Statement and applies to all of the Group's activities in the regions in which it carries out its activity.

Furthermore, it includes the description of the contribution of Gestamp to achieving the Sustainable Development Goals (SDGs) and the yearly progress of the company in implementing the Ten Principles of the United Nations Global Compact in the areas of human rights, labour, environment and anti-corruption.

For the preparation of this report, the company has different corporate systems for collecting information, and a specific platform for reporting non-financial information that allows it to automatically collect the information necessary to comply with the requirements of Law 11/2018 and the GRI and SASB standards. These systems, in addition to exercising the functions of internal control of the information, facilitate the verification data, allow for the correction of possible errors, facilitate the ordering and consolidation of the information and allow for the storage of historical data.

In the event of limitations regarding scope, coverage, consolidation perimeter changes or other information restrictions, the appropriate specifications have been either made throughout the chapters or in the indicator tables contained in the Annexes section or in footnotes. An explanation of the perimeter considered for each analysis area is included below:

|  | Areas of the report                                                                               | Perimeter considered     | Coverage of the perimeter for the annual accounts | Comments                                                                                                                                                                                                                                        |
|--|---------------------------------------------------------------------------------------------------|--------------------------|---------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | • Economic / financial<br>• Human Resources<br>• Training<br>• Code of Conduct<br>• Social Action | 176 management companies | 100%                                              | Same perimeter as consolidated annual accounts.                                                                                                                                                                                                 |
|  | • Remuneration                                                                                    | 164 management companies | 85.9% of total employees.                         | Since Gestamp is not responsible for the Management of Compensation, Joint Ventures are excluded from the calculation, as is Russia due to the geopolitical situation. Interns, apprentices, external employees and agencies are also excluded. |
|  | • Environment                                                                                     | 100 management companies | 85% of plants out of total production plants      | The plants over which Gestamp has operational control are considered.                                                                                                                                                                           |
|  | • Energy efficiency                                                                               | 47 management companies  | 43% of total production plants                    | Plants are gradually being incorporated into the management perimeter.                                                                                                                                                                          |
|  | • Health and Safety                                                                               | 110 management companies | 92.7% of total production plants.                 | The health and safety system covers almost all production plants.                                                                                                                                                                               |
|  | • Purchasing                                                                                      | 127 management companies | 72% of total production plants                    | Edscha, Hardtech, Beyçelik and Rumania plants are excluded.                                                                                                                                                                                     |
|  | • Quality                                                                                         | 100 management companies | 87% of total production plants.                   | Includes all production plants except for Edscha and Joint Ventures.                                                                                                                                                                            |

Furthermore, Gestamp uses other reports to provide more specific information on particular matters:

- **•** Report on the consolidated Financial Statements of Gestamp Automoción S.A. for the financial year ending on 31 December 2023.
- **•** Annual Corporate Governance Report.
- **•** Annual Report on the Remuneration of Directors.

All of the foregoing was published by the Spanish National Securities Market Commission (CNMV) on 27 February 2023.

The non-financial information included in this 2023 report does not include Gescrap's perimeter as the data collection systems were not ready to be integrated. Gescrap's non-financial information is expected to be consolidated with that of Gestamp by 2024.

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Image /page/209/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in a dark blue color. To the right of the word is a square containing a stylized graphic of a curved line with a circle at the end, also in white, against a dark blue background.

## ANNUAL REPORT 2023

Image /page/209/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked on top of each other.

[1. Letter from the Chairman](#page-2-0)

#### [2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

## INTERNATIONAL STANDARD

*The process of preparing this Annual Report has taken as a reference the Global Reporting Initiative (GRI) international standard for those requirements considered relevant to the business, as well as information in accordance with the SASB (Sustainability Accounting Standards Board) reporting standards relating to the sector: Transportation - Auto Parts industry.*

## INDEPENDENT REVIEW

In order to strengthen the veracity and precision of the information set out in the report, regarding compliance with Law 11/2018 on non-financial information and diversity, this information was independently reviewed by Ernst & Young according to:

- **•** The Action Guide on Corporate Responsibility Report Reviews issued by the ICJCE (Spanish Institute of Certified Public Accountants).
- **•** The ISAE 3000 Standard: Assurance Engagements Other than Audits or Reviews of Historical Financial Information issued by the International Auditing and Assurance Standard Board (IAASB) of the International Federation of Accountants (IFAC), with limited assurance.

Furthermore, the Annual Financial Statements of Gestamp S.A. and subsidiary companies are audited each year by external independent companies pursuant to current legislation.

Image /page/209/Picture/18 description: A close-up shot reveals a building's exterior, adorned with the letters 'dmp' and a logo. The letters and logo are in a light color, contrasting with the building's textured surface. The angle of the shot provides a partial view of the building, with the sky visible in the upper right corner.

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<span id="page-210-0"></span>Image /page/210/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in a dark blue color. To the right of the word is a square box, also in dark blue, containing a stylized white graphic that resembles a curved line with a small circle at one end.

#### ANNUAL REPORT 2023

[INDEX](#page-1-0)

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

# 7.4 Double Materiality Methodology

Double materiality analysis follows a methodology which identifies, on the one hand, the environmental and social impacts of the company's activities (inside-out perspective) and, on the other, the primary risks and opportunities arising for the company as a result of that interaction (outside-in perspective). On this basis, Gestamp is able to identify the aspects that it should prioritise and those that should serve to underpin its ESG strategy and governance model.

The analysis conducted during the 2023 reporting period was divided into 3 phases:

- **• Phase 1 -** Context analysis and understanding of Gestamp's value chain.
- **• Phase 2 -** Identification of topics, sub-topics and material IROs.
- **• Phase 3 -** Assessment and weighting of material IROs.

This analysis will be reviewed annually and updated at least e zo years. These times are pending review based on the new regulations and applicable standards.

# PHASE 1 - CONTEXT ANALYSIS AND UNDERSTANDING OF GESTAMP'S VALUE CHAIN

A context analysis has been conducted to identify and develop a clearer understanding of Gestamp's business activities, based on internal and external sources:

#### INTERNAL SOURCES::

- **•** 2022 Materiality analysis.
- **•** Gestamp's 2022 Annual Report.
- **•** ESG Risk Map.
- **•** Analysis of Climate Change Risks and Opportunities.
- **•** Other information identified as relevant by business units.

Image /page/210/Picture/27 description: The image shows a blue icon of an arrow pointing to the right, enclosed in a bracket. The bracket is open on the left side, and the arrow is pointing towards the right.

#### EXTERNAL SOURCES:

- **•** Relevant sector-based reports
- **•** Information about competitors in the public domain.
- **•** Standards/recommendations: SASB, GRI, TCFD, WEF, EFRAG,
- **•** ESG Analysts: MSCI, S&P, Sustainalytics, Ecovadis, FTSE.
- **•** Regulations and recommendations of regulators: EU Taxonomy, CNMV, etc.

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Image /page/211/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in a dark blue color. To the right of the word is a square containing a stylized graphic of a curved line with a circle at the end, also in white against a dark blue background.

Image /page/211/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked on top of each other.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

# PHASE 2 - IDENTIFICATION OF TOPICS, SUB-TOPICS AND MATERIAL IROS

For the purpose of classifying the Impacts, Risks and Opportunities (IROs) that will be identified and assessed, first of all the topics identified on a preliminary basis as being the most relevant have been listed for ease of understanding and in the interests of facilitating analysis. As such, the new EFRAG Standards of the CSRD and all resources identified during the context analysis have been taken into consideration.

The identified material topics are divided into more specific sub-topics which increase granularity and show how the topics correspond to the company's activities.

3
Finally, a preliminary list of approximately 100 impacts, risks and opportunities related to every sub-topic and material topic have been identified. Prioritised according to relevance, only those considered to be the most relevant have subsequently been assessed. All the sources consulted during the context analysis have been used to this end.

#### IMPACT

1

2

The effect that the entity's processes, activities, products, services and relations have on people or the environment over time. The effect may be:

- **•** Current or potential, depending on whether it is happening at the present time or may happen in the future.
- **•** Positive or negative.

#### RISK

Any uncertain environmental, social or governance-related events or conditions which, should they occur, may have a material negative impact on the company's business model and strategy.

#### OPPORTUNITY

Any uncertain environmental, social or governance-related events or conditions which, should they occur, may have a material positive impact on the company's business model and strategy.

## PHASE 3 - ASSESSMENT AND WEIGHTING OF MATERIAL IROS

Gestamp has involved its four principal stakeholder groups in the assessment of IROs. Information has been gathered via surveys, including questions on topics and sub-topics for employees and associations, as well as special surveys on IROs for relevant departments (representing customers and suppliers and providing their business vision). A trend analysis conducted for regulatory bodies and the financial community has also identified the topics that they currently prioritise.

Image /page/211/Figure/25 description: The image shows a diagram with icons and text labels representing different stakeholders and methods of analysis. From left to right, the stakeholders are: Employees, Customers, Suppliers, Civil Society and Opinion Makers, Regulatory Bodies, and Financial Community. The first four stakeholders are grouped under the heading "SURVEYS", while the last two are grouped under the heading "TREND ANALYSIS".

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Image /page/212/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in blue. To the right of the word is a blue square containing a white, stylized graphic that resembles a curved line with a circle at the end.

## ANNUAL REPORT 2023

[INDEX](#page-1-0)

[1. Letter from the Chairman](#page-2-0)

On the basis of the results, the IROs have been assessed in their respective material topics and subtopics, according to the following criteria:

Image /page/212/Figure/4 description: This image shows a diagram of impact and financial materiality. The impact materiality section is divided into positive and negative impacts. The positive impact section is divided into real and potential impacts. The real impact is calculated as Scale + Scope. The potential impact is calculated as (Scale + Scope) x Likelihood. The negative impact section is divided into real and potential impacts. The real impact is calculated as Scale + Scope + Remediability. The potential impact is calculated as (Scale + Scope) x Likelihood. The financial materiality section is divided into risk and opportunity. The risk is calculated as Scale x Probability. The opportunity is calculated as Scale x Probability. The timeframe for impact materiality is short term, medium term, and long term. The timeframe for financial materiality is potential. Scale is the magnitude of IRO if it occurs. Scope indicates the level of impact on population and geographic area. Likelihood indicates the probability of the IROs occurring. Remediability is the difficulty of repairing or offsetting a negative impact.

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

The primary material aspects in terms of IRO are assessed according to a double materiality matrix produced on the basis of the above. The results are set out in detail in the chapter entitled "Double Materiality Analysis" and details of the IRO assessment are outlined in the various chapters of the contents of the Non-Financial Information:

- **•** Path to neutrality
- **•** Circularity
- **•** Environmental Management
- **•** Talent
- **•** Occupational Health and Safety
- **•** Responsible supply chain management
- **•** Good Governance and Ethics

Image /page/212/Picture/17 description: A group of people are gathered around a wooden table, looking at papers with charts and graphs on them. Some of them are holding pens and pencils, and one person has a smartphone on the table in front of them. There is also a laptop on the table.

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ANNUAL REPORT 2023

Image /page/213/Picture/3 description: The image shows the word "INDEX" in a sans-serif font, with three horizontal lines above it. The lines are of equal length and are stacked vertically, with a small gap between each line. The word "INDEX" is in a darker color than the lines.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

Image /page/213/Picture/11 description: A person is holding a tablet in front of a robotic arm. The tablet displays a dashboard with various metrics, including daily, weekly, and monthly targets. The robotic arm is white and gray, with copper and green wiring. The tablet screen shows the word "PRODUCTION" at the top left, and the words "Dashboard", "Monitoring", "Problems", "Group and tag", "Tactical views", "System", "Configuration", and "External" are listed on the left side of the screen. The words "Home / Dashboard" are displayed at the top of the screen. The numbers "01" and "02" are displayed in the top right corner of the screen.

Additional, broader IROs have also been identified for the material topic of **Product Innovation and Quality**:

#### IMPACT

More responsive to the needs of the end user (for instance, through innovation, safety, electrification and technological development) to improve product quality.

Image /page/213/Figure/27 description: The image contains a green plus sign, a green pyramid, and the text "N/A".

Violation of legal regulations on critical or regulatory parts for safety which may affect product safety, causing damage or giving rise to risks, as well as economic sanctions.

Image /page/213/Picture/17 description: The image contains three icons. From left to right, the first icon is a horizontal brown line. The second icon is a yellow pyramid with three layers, outlined in blue. The third icon is a gauge with a needle pointing to the green area, outlined in blue and gray.

Reduced passive and active safety.

#### RISKS

Manufacture of defective parts, leading to reduced safety levels and costs related to identification, review, replacement and reputation.

Image /page/213/Picture/21 description: The image contains two icons. The first icon is a triangle with two horizontal lines inside, creating three sections. The sections are filled with a yellow color, and the triangle is outlined in blue. The second icon is a speedometer with a needle pointing to the green section. The speedometer has a blue outline and a green and gray color scheme.

#### OPPORTUNITIES

Gaining a competitive edge by offering high-quality and more sustainable products.

Image /page/213/Picture/24 description: The image contains two icons. The first icon is a blue triangle with three horizontal yellow bars inside. The second icon is a speedometer with a green section and a blue needle pointing to the green section.

| Severity/Magnitude                                                   | Probability                                                                      |
|----------------------------------------------------------------------|----------------------------------------------------------------------------------|
| Image: Red triangle pointing up with the word "Low" next to it       | Image: Gauge pointing to low with the word "Low" next to it                      |
| Image: Yellow triangle pointing up with the word "Medium" next to it | Image: Gauge pointing to medium with the word "Medium" next to it                |
| Image: Green triangle pointing up with the word "High" next to it    | Image: Gauge pointing to high with the word "High" next to it                    |
|                                                                      | N/A Impact considered to exist (actual) which is why probability is disregarded. |

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7.5 Table of contents

detailed below:

General scopes

The index of contents required by Law 11/2018 on non-financial information and diversity and its correspondence with the selected GRI Standard Indicators are included in the following sections, as

Image /page/214/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked on top of each other.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

**Business model** Description of the business model: • Business environment • Organisation and structure • Markets in which it operates • Objectives and strategies • Main factors and trends that may affect its future development GRI 2-1 Organizational details GRI 2-2 Entities included in the organization's sustainability reporting GRI 2-6 Activities, value chain and other business relationships GRI 2-9 Governance structure and composition GRI 2-23 Policy commitments **Materiality** Materiality Study GRI 3-1 Process for determining material topics GRI 3-2 List of material topics GRI 3-3 Management of material topics **General** Reporting Framework GRI 2-3 Reporting period, frequency and point of contact GRI 2-5 External verification. **Policies and results of these policies** Description off the policies imposed by the group, as well as the results of these policies, including the key indicators of the appropriate non-financial results. GRI 2-23 Policy commitments GRI 2-24 Embedding policy commitments **Main risks and impacts identified** Main risks related to these matters and related to the activities of the group, including, where relevant and appropriate, its business relationships, products or services that may have a negative effect on these areas. GRI 3-3 Management of material topics 176-182; Throughout the entire

SCOPES REPORTING FRAMEWORK REFERENCE (SECTION)

6-37, 30-39, 56-57, 165-173

54-56, 211-214

209-210, 229-230

report.

report.

208. Throughout the entire

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#### ANNUAL REPORT 2023

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

| SCOPES                                               |                                                                                                  | REPORTING FRAMEWORK                                                                                                                                                 | REFERENCE (SECTION)                                                                                                                                                                                                                                                   |                                                                                                                                                                          |
|------------------------------------------------------|--------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Environmental matters                                |                                                                                                  |                                                                                                                                                                     |                                                                                                                                                                                                                                                                       |                                                                                                                                                                          |
| Environmental Management                             | Current and foreseeable effects of the activities of the company                                 | GRI 3-3 Management of material topics                                                                                                                               | 85-86                                                                                                                                                                                                                                                                 |                                                                                                                                                                          |
|                                                      | Environmental assessment or certification procedures                                             | Internal criterion/GRI 201-2 Financial implications and other risks and opportunities<br>due to climate change (Accounting criterion)                               | 86-87                                                                                                                                                                                                                                                                 |                                                                                                                                                                          |
|                                                      | Resources dedicated to the prevention of environmental risks                                     | GRI 2-23 Policy commitments<br>Law 26/2007 on Environmental Responsibility (where applicable)                                                                       | 87                                                                                                                                                                                                                                                                    |                                                                                                                                                                          |
|                                                      | Application of the precautionary principle                                                       |                                                                                                                                                                     | 87                                                                                                                                                                                                                                                                    |                                                                                                                                                                          |
|                                                      | Amount of provisions and guarantees for environmental risks                                      |                                                                                                                                                                     | 87                                                                                                                                                                                                                                                                    |                                                                                                                                                                          |
| Pollution                                            | Measures to prevent, reduce or repair carbon emissions (also includes noise and light pollution) | GRI 3-3 Management of material topics                                                                                                                               | 68-69, 72-75                                                                                                                                                                                                                                                          |                                                                                                                                                                          |
| Circular economy, waste prevention and<br>management | Measures for prevention, recycling, reuse, other forms of waste recovery and disposal            | GRI 3-3 Management of material topics<br>GRI 306-3 (2020) Waste generated                                                                                           | 76-84, 90-94                                                                                                                                                                                                                                                          |                                                                                                                                                                          |
|                                                      | Actions to combat food waste                                                                     | GRI 3-3 Management of material topics                                                                                                                               | It is not a material issue for Gestamp<br>based on its activity.                                                                                                                                                                                                      |                                                                                                                                                                          |
| Sustainable Use of Resources                         | Water consumption and water supply in accordance with local limitations                          | GRI 3-3 Management of material topics<br>GRI 303-3 Water withdrawal                                                                                                 | 88-89                                                                                                                                                                                                                                                                 |                                                                                                                                                                          |
|                                                      | Consumption of raw materials                                                                     | GRI 3-3 Management of material topics<br>GRI 301-1 Materials used by weight or volume                                                                               | 90                                                                                                                                                                                                                                                                    |                                                                                                                                                                          |
|                                                      | Measures taken to improve the efficiency of its use of raw materials                             | Energy efficiency system                                                                                                                                            | 72-75                                                                                                                                                                                                                                                                 |                                                                                                                                                                          |
|                                                      | Direct and indirect energy consumption                                                           | GRI 302-1 Energy consumption within the organization                                                                                                                | 70                                                                                                                                                                                                                                                                    |                                                                                                                                                                          |
|                                                      | Measures taken to improve energy efficiency                                                      | GRI 3-3 Management of material topics                                                                                                                               | 72-75                                                                                                                                                                                                                                                                 |                                                                                                                                                                          |
|                                                      | Renewable energy use                                                                             | GRI 302-1 Energy consumption within the organization                                                                                                                | 70                                                                                                                                                                                                                                                                    |                                                                                                                                                                          |
| Climate change                                       | Important elements of the greenhouse gas emissions generated                                     | GRI 305-1 Direct (Scope 1) GHG emissions<br>GRI 305-2 Energy indirect (Scope 2) GHG emissions<br>Where applicable: GRI 305-3 Other indirect (Scope 3) GHG emissions | 71                                                                                                                                                                                                                                                                    |                                                                                                                                                                          |
|                                                      | Measures taken to adapt to the consequences of climate change                                    | GRI 3-3 Management of material topics                                                                                                                               | 61-75                                                                                                                                                                                                                                                                 |                                                                                                                                                                          |
|                                                      | Reduction targets established voluntarily                                                        | GRI 3-3 Management of material topics                                                                                                                               | 61-75                                                                                                                                                                                                                                                                 |                                                                                                                                                                          |
| Biodiversity protection                              | Measures taken to preserve or restore biodiversity                                               | GRI 3-3 Management of material topics                                                                                                                               | 95                                                                                                                                                                                                                                                                    |                                                                                                                                                                          |
|                                                      | SCOPES                                                                                           |                                                                                                                                                                     | REPORTING FRAMEWORK                                                                                                                                                                                                                                                   | REFERENCE (SECTION)                                                                                                                                                      |
|                                                      | Social and personnel-related matters                                                             |                                                                                                                                                                     |                                                                                                                                                                                                                                                                       |                                                                                                                                                                          |
|                                                      | Employment                                                                                       | Total number and distribution of employees by gender, age, country and professional category                                                                        | GRI 2-7 Employees                                                                                                                                                                                                                                                     | 111-113                                                                                                                                                                  |
|                                                      |                                                                                                  | Total number and distribution of employment contract modalities                                                                                                     | GRI 405-1 Diversity of governance bodies and employees                                                                                                                                                                                                                | 112, 201-202                                                                                                                                                             |
|                                                      |                                                                                                  | Yearly average of indefinite-term, temporary and part-time contracts by gender, age and<br>professional category                                                    | GRI 2-7 Employees                                                                                                                                                                                                                                                     | 202                                                                                                                                                                      |
|                                                      |                                                                                                  | Number of dismissals by gender, age and professional category                                                                                                       | GRI 401-1 New employee hires and employee turnover                                                                                                                                                                                                                    | 206                                                                                                                                                                      |
|                                                      |                                                                                                  | Salary Gap                                                                                                                                                          | Internal framework: the formula below has been used for the calculation: (Av. Wage<br>Women - Av. Wage Men)/ Av. Wage Men                                                                                                                                             | 130                                                                                                                                                                      |
|                                                      |                                                                                                  | Average remuneration by gender, age and professional category                                                                                                       | Internal framework: Average remuneration (including the total retribution for the<br>year, fixed wage and all variable retributions (subsistence allowance, compensation,<br>payment into savings plans, etc.)) obtained throughout the year.                         | 128-129                                                                                                                                                                  |
|                                                      |                                                                                                  | Average remuneration of directors by gender                                                                                                                         |                                                                                                                                                                                                                                                                       | 174                                                                                                                                                                      |
|                                                      |                                                                                                  | Average remuneration of senior management by gender                                                                                                                 |                                                                                                                                                                                                                                                                       | 175                                                                                                                                                                      |
|                                                      |                                                                                                  | Implementation of work disconnection policies                                                                                                                       | GRI 3-3 Management of material topics                                                                                                                                                                                                                                 | Although Gestamp does not have<br>a specific policy linked to work<br>disconnection, These measures are<br>reflected on Flexibility and Conciliatio<br>policy p. 125-126 |
|                                                      |                                                                                                  | Employees with disabilities                                                                                                                                         | GRI 405-1 Diversity of governance bodies and employees                                                                                                                                                                                                                | 134                                                                                                                                                                      |
|                                                      | Work management                                                                                  | Working time management                                                                                                                                             | GRI 3-3 Management of material topics                                                                                                                                                                                                                                 | 125                                                                                                                                                                      |
|                                                      |                                                                                                  | Number of absenteeism hours                                                                                                                                         | Internal framework: absenteeism rate                                                                                                                                                                                                                                  | 127, 206                                                                                                                                                                 |
|                                                      |                                                                                                  | Measures aimed at facilitating work-life balance and encouraging co-responsible exercise by<br>both parents                                                         | GRI 3-3 Management of material topics                                                                                                                                                                                                                                 | 125                                                                                                                                                                      |
|                                                      | Health and safety                                                                                | Health and safety conditions at work                                                                                                                                | GRI 403-1 Occupational health and safety management system                                                                                                                                                                                                            | 135-145                                                                                                                                                                  |
|                                                      |                                                                                                  | Number of occupational accidents and diseases by gender, frequency rate and severity by<br>gender                                                                   | GRI 403-9 Work-related injuries<br>Frequency rate = No. of accidents with leave x 1,000,000/ no. of hours worked<br>(excluding accidents in itinere)<br>Severity rate = No. of working days lost x 1,000,000/ no. of hours worked (excluding<br>accidents in itinere) | 143                                                                                                                                                                      |

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Image /page/216/Picture/0 description: The image shows the logo for "Gestamp". The word "Gestamp" is written in a bold, dark blue font. To the right of the word is a stylized graphic, also in dark blue, that resembles a curved line with a circle at the end, set against a square background.

ANNUAL REPORT 2023

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Image /page/217/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, dark blue font. To the right of the word is a stylized graphic, also in dark blue, that resembles a curved line with a circle at the end, suggesting movement or connectivity.

ANNUAL REPORT 2023

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

| SCOPES                               |                                                                                                                                                                           | REPORTING FRAMEWORK                                                                  | REFERENCE (SECTION) |
|--------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------|---------------------|
| Social and personnel-related matters |                                                                                                                                                                           |                                                                                      |                     |
| Social relationships                 | Organisation of social dialogue                                                                                                                                           | GRI 3-3 Management of material topics                                                | 125-126             |
|                                      | Percentage of employees covered by collective agreements per country                                                                                                      | GRI 2-30 Collective bargaining agreements                                            | 125-126             |
|                                      | Balance of collective agreements, particularly in the field of health and safety at work                                                                                  | GRI 3-3 Management of material topics                                                | 125-126             |
|                                      | Mechanisms and procedures of the company to promote the involvement of workers in the management of the company, in terms of information, consultation and participation. | GRI 2-30 Collective Agreements                                                       | 125-126             |
| Training                             | Policies implemented in the field of training                                                                                                                             | GRI 404-2 Programs for upgrading employee skills and transition assistance programs. | 117-122             |
|                                      | Total number of hours of training by professional categories.                                                                                                             | Internal framework                                                                   | 120                 |
| Accessibility                        | Universal accessibility of persons with disabilities                                                                                                                      | GRI 3-3 Management of material topics                                                | 134                 |
| Equality                             | Measures taken to promote equal treatment and opportunities between women and men                                                                                         | GRI 3-3 Management of material topics                                                | 131-132             |
|                                      | Equality plans, measures taken to promote employment, protocols against sexual harassment and gender-based harassment                                                     | GRI 3-3 Management of material topics                                                | 131-132             |
|                                      | Integration and the universal accessibility of persons with disabilities                                                                                                  | GRI 2-23 Policy commitments                                                          | 134                 |
|                                      | Policy against all types of discrimination and, where appropriate, diversity management                                                                                   | GRI 3-3 Management of material topics<br>GRI 2-23 Policy commitments                 | 131, 192            |

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| 7. ANNEXES                   | 7.1 Tables and additional information | 7.2 Policies and other rules of the Group | 7.3 About this report      | 7.4 Double materiality Methodology | 7.5 Table of contents |
|------------------------------|---------------------------------------|-------------------------------------------|----------------------------|------------------------------------|-----------------------|
| 7.6 GRI Standards Indicators | 7.7 SASB indicators                   | 7.8 UN Global Compact                     | 7.9 Companies of the Group | 7.10 Report on Independent Review  |                       |

|  | SCOPES                                                         |                                                                                                                                                                                                                                                                                                                                           | REPORTING FRAMEWORK                                                                                                                            | REFERENCE (SECTION) |
|--|----------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------|---------------------|
|  | Information on respect for human rights                        |                                                                                                                                                                                                                                                                                                                                           |                                                                                                                                                |                     |
|  | Respect for Human Rights                                       | Application of due diligence procedures in the field of human rights                                                                                                                                                                                                                                                                      | GRI 2-26 Mechanisms for seeking advice and raising concerns<br>GRI 3-3 Management of material topics                                           | 192-193             |
|  |                                                                | Prevention of risks arising from human rights violations and, where appropriate, measures to<br>mitigate, manage and repair possible abuses committed                                                                                                                                                                                     | GRI 3-3 Management of material topics<br>GRI 2-23 Policy commitments<br>GRI 2-26 Mechanisms for seeking advice and raising concerns            | 192-193             |
|  |                                                                | Complaints about cases of human rights violations                                                                                                                                                                                                                                                                                         | Internal framework: quantitative information on the number of complaints.                                                                      | 190-191             |
|  |                                                                | Promotion and compliance with the provisions of the ILO fundamental conventions related<br>to respect for freedom of association and the right to collective bargaining, the elimination of<br>discrimination in employment and occupation, the elimination of forced or compulsory labour<br>and the effective abolition of child labour | GRI 3-3 Management of material topics<br>GRI 2-23 Policy commitments                                                                           | 125-126, 192-193    |
|  | Information regarding the fight against corruption and bribery |                                                                                                                                                                                                                                                                                                                                           |                                                                                                                                                |                     |
|  | Fight against corruption and blackmail                         | Measures taken to prevent corruption and bribery                                                                                                                                                                                                                                                                                          | GRI 2-25 Processes to remediate negative impacts<br>GRI 2-23 Policy commitments<br>GRI 2-26 Mechanisms for seeking advice and raising concerns | 194-195             |
|  |                                                                | Measures to fight money laundering                                                                                                                                                                                                                                                                                                        | GRI 2-25 Processes to remediate negative impacts<br>GRI 2-23 Policy commitments<br>GRI 2-26 Mechanisms for seeking advice and raising concerns | 195                 |
|  |                                                                | Contributions to foundations and non-profit organisations                                                                                                                                                                                                                                                                                 | GRI 201-1 Direct economic value generated and distributed                                                                                      | 153                 |

[6. Governance](#page-155-0)

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SCOPES REPORTING FRAMEWORK REFERENCE (SECTION)

ANNUAL REPORT 2023

| INDEX |
|-------|

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

| Information about the company                    |                                                                                                               |                                                                                                                                                    |                  |  |  |  |  |  |  |
|--------------------------------------------------|---------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------|------------------|--|--|--|--|--|--|
| Company commitment to sustainable<br>development | Impact of the society's activity on the local development and employment                                      | GRI 3-3 Management of material topics                                                                                                              | 54, 157, 146-151 |  |  |  |  |  |  |
|                                                  | Impact of the society's activity on local populations and in the territory                                    | GRI 3-3 Management of material topics                                                                                                              | 54, 157, 146-151 |  |  |  |  |  |  |
|                                                  | Relationships maintained with local community actors and the dialogue modalities<br>maintained with them      | GRI 3-3 Management of material topics                                                                                                              | 54, 157, 146-151 |  |  |  |  |  |  |
|                                                  | Partnership or sponsorship actions                                                                            | GRI 3-3 Management of material topics<br>GRI 2-28 Membership associations<br>Internal framework: description of partnership or sponsorship actions | 155              |  |  |  |  |  |  |
| Subcontracting and suppliers                     | Inclusion in the purchasing policy of social, gender equality and environmental issues                        | GRI 3-3 Management of material topics<br>GRI 2-6 Activities, value chain and other business relationships<br>GRI 2-24 Embedding policy commitments | 159-162          |  |  |  |  |  |  |
|                                                  | Consideration in supplier and subcontractor relationships of their social and environmental<br>responsibility |                                                                                                                                                    | 159-162          |  |  |  |  |  |  |
|                                                  | Supervision systems and audits and their results                                                              |                                                                                                                                                    | 162              |  |  |  |  |  |  |
| Consumers                                        | Consumers' health and safety measures                                                                         | GRI 3-3 Management of material topics                                                                                                              | 18.22            |  |  |  |  |  |  |
|                                                  | Complaint systems                                                                                             | GRI 2-16 Communication of critical concerns<br>GRI 2-25 Processes to remediate negative impacts                                                    | 18-19            |  |  |  |  |  |  |
|                                                  | Complaints received and resolution thereof                                                                    | GRI 2-25 Processes to remediate negative impacts<br>Internal framework: information about complaints and opportunities for<br>improvement          | 19-20            |  |  |  |  |  |  |
| Tax-related information                          | Profits earned country by country                                                                             | GRI 207-4 Country-by-country reporting                                                                                                             | 45               |  |  |  |  |  |  |
|                                                  | Taxes paid on profits                                                                                         | GRI 207-4 Country-by-country reporting                                                                                                             | 45               |  |  |  |  |  |  |
|                                                  | Public subsidies received                                                                                     | GRI 201-4 Financial assistance received from government                                                                                            | 45               |  |  |  |  |  |  |
| EU Taxonomy                                      | Overview of the Gestamp activities in relation to the EU Taxonomy Regulation                                  |                                                                                                                                                    | 96-107           |  |  |  |  |  |  |

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Image /page/220/Picture/3 description: The image shows a stylized representation of a menu icon, consisting of three horizontal lines stacked on top of each other. Below the lines, the word "INDEX" is written in a sans-serif font.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

# 7.6 GRI Standards Indicators

**Declaration of use:** Gestamp has reported the information cited in this GRI content index for the period from 1 January 2023 to 31 December 2023 using the GRI Standards as a reference. **GRI 1 used:** GRI 1: Fundation 2021

| GRI Standard                       | Divulgation                                                             | Annual report reference                                                                                                                                                     | GRI Standard                                                                                                                                                                                      | Divulgation                                                                         | Annual report reference                                                                                                                                 |                                                                                                                                                                         |
|------------------------------------|-------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| GRI 2: General<br>Disclosures 2021 | 2-1 Organizational details                                              | Gestamp Group / About Gestamp                                                                                                                                               | GRI 2: General<br>Disclosures 2021                                                                                                                                                                | 2-12 Role of the highest governance body in overseeing the<br>management of impacts | ESG perspective / ESG strategy<br>Governance Dimension / Good<br>governance and ethics / Good Govern                                                    |                                                                                                                                                                         |
|                                    | 2-2 Entities included in the organization's sustainability<br>reporting | Annexes / About this report                                                                                                                                                 |                                                                                                                                                                                                   |                                                                                     | governance and ethics / Good Governance                                                                                                                 |                                                                                                                                                                         |
|                                    | 2-3 Reporting period, frequency and contact point                       | Annexes / About this report                                                                                                                                                 |                                                                                                                                                                                                   | 2-13 Delegation of responsibility for managing impacts                              | ESG perspective / ESG strategy<br>Governance Dimension / Good<br>governance and ethics / Good<br>Governance                                             |                                                                                                                                                                         |
|                                    | 2-4 Restatements of information                                         | If there is any type of modification, a<br>reference is included in the form of<br>a page note                                                                              |                                                                                                                                                                                                   |                                                                                     |                                                                                                                                                         |                                                                                                                                                                         |
|                                    | 2-5 External assurance                                                  | Annexes / Report on Independent<br>Review                                                                                                                                   |                                                                                                                                                                                                   | 2-14 Role of the highest governance body in sustainability<br>reporting             | This 2023 Annual Report is approved<br>by the Board of Directors after<br>supervision by the Sustainability<br>Commission.                              |                                                                                                                                                                         |
|                                    | 2-6 Activities, value chain and other business relationships            | About Gestamp                                                                                                                                                               |                                                                                                                                                                                                   | 2-15 Conflicts of interest                                                          | Corporate Governance Annual<br>Report (section D)                                                                                                       |                                                                                                                                                                         |
|                                    | 2-7 Employees                                                           | Social Dimension / Talent<br>Annexes / Tables and additional<br>information                                                                                                 |                                                                                                                                                                                                   | 2-16 Communication of critical concerns                                             | Governance Dimension / Ethics and<br>regulatory compliance / Code of<br>Conduct                                                                         |                                                                                                                                                                         |
|                                    | 2-8 Workers who are not employees                                       | Social Dimension / Talent<br>Annexes / Tables and additional<br>information                                                                                                 |                                                                                                                                                                                                   | 2-17 Collective knowledge of the highest governance body                            | Social Dimension / Talent / Talent<br>development and training / Global<br>programmes                                                                   |                                                                                                                                                                         |
|                                    | 2-9 Governance structure and composition                                | Gestamp Group / About Gestamp /<br>Organisational Structure<br>Governance Dimension / Good<br>governance and ethics / Good Governance<br>Corporate Governance Annual Report |                                                                                                                                                                                                   | 2-18 Evaluation of the performance of the highest<br>governance body                | programmes<br>Governance Dimension / Good<br>governance and ethics / Good<br>governance / Governing bodies /<br>Board of Directors                      |                                                                                                                                                                         |
|                                    | 2-10 Nomination and selection of the highest governance<br>body         | Governance Dimension / Good<br>governance and ethics / Good Governance                                                                                                      |                                                                                                                                                                                                   | 2-19 Remuneration policies                                                          | Governance Dimension / Good<br>governance and ethics / Good<br>governance / Governing bodies<br>Corporate Governance Annual<br>Report (section C and D) |                                                                                                                                                                         |
|                                    | 2-11 Chair of the highest governance body                               | Governance Dimension / Good<br>governance and ethics / Good Governance                                                                                                      |                                                                                                                                                                                                   |                                                                                     |                                                                                                                                                         |                                                                                                                                                                         |
| 2023                               | GRI Standard                                                            | Divulgation                                                                                                                                                                 | Annual report reference                                                                                                                                                                           | GRI Standard                                                                        | Divulgation                                                                                                                                             | Annual report reference                                                                                                                                                 |
|                                    | GRI 2: General<br>Disclosures 2021                                      | 2-20 Process to determine remuneration                                                                                                                                      | Governance Dimension / Good<br>governance and ethics / Good<br>governance / Governing bodies<br>Corporate Governance Annual<br>Report (section C and D)                                           | GRI 3: Material Topics<br>2021                                                      | 3-1 Process to determine material topics                                                                                                                | Annexes / Double Materiality<br>Methodology                                                                                                                             |
| <br>INDEX                          |                                                                         | 2-22 Statement on sustainable development strategy                                                                                                                          | ESG perspective / ESG strategy                                                                                                                                                                    |                                                                                     | 3-2 List of material topics                                                                                                                             | ESG perspective / ESG strategy /<br>Double Materiality Analysis                                                                                                         |
| 1. Letter from the Chairman        |                                                                         | 2-23 Policy commitments                                                                                                                                                     | Governance Dimension / Ethics and<br>regulatory compliance / Code of<br>Conduct                                                                                                                   |                                                                                     | 3-3 Management of material topics                                                                                                                       | Throughout the entire report,<br>management measures and their<br>effectiveness are reported for each<br>section.                                                       |
| 2. Gestamp Group                   |                                                                         | 2-24 Embedding policy commitments                                                                                                                                           | Governance Dimension / Ethics and<br>regulatory compliance / Code of<br>Conduct                                                                                                                   | GRI 201: Economic<br>Performance 2016                                               | 201-1 Direct economic value generated and distributed                                                                                                   | Gestamp Group / Economic Strategy<br>/ Fiscal Strategy<br>Governance Dimension /<br>Responsible Supply Chain<br>Management<br>Social Dimension / Social<br>Contribution |
| 3. ESG Perspective                 |                                                                         | 2-25 Processes to remediate negative impacts                                                                                                                                | ESG perspective / ESG strategy /<br>Double Materiality Analysis<br>Annexes / Double Materiality<br>Methodology<br>Governance Dimension / Ethics and<br>regulatory compliance / Code of<br>Conduct |                                                                                     | 201-2 Financial implications and other risks and<br>opportunities due to climate change                                                                 | Environmental Dimension / Road to<br>neutrality                                                                                                                         |
| 4. Environmental Dimension         |                                                                         | 2-26 Mechanisms for seeking advice and raising concerns                                                                                                                     | Governance Dimension / Ethics and<br>regulatory compliance / Code of<br>Conduct                                                                                                                   | GRI 203: Indirect<br>Economic Impacts 2016                                          | 203-2 Significant indirect economic impacts                                                                                                             | Annexes / Double Materiality<br>Methodology                                                                                                                             |
| 5. Social Dimension                |                                                                         | 2-28 Membership associations                                                                                                                                                | Social Dimension / Social<br>Contribution / Collaboration with<br>non – profit organisations                                                                                                      | GRI 204: Procurement<br>Practices 2016                                              | 204-1 Proportion of spending on local suppliers                                                                                                         | Governance Dimension /<br>Responsible Supply Chain<br>Management                                                                                                        |
| 6. Governance                      |                                                                         | 2-29 Approach to stakeholder engagement                                                                                                                                     | ESG perspective / ESG at Gestamp /<br>Stakeholder Value Creation<br>Annexes / Double Materiality<br>Methodology                                                                                   | GRI 205: Anti –<br>corruption 2016                                                  | 205-2 Communication and training about anti-corruption<br>policies and procedures                                                                       | Governance Dimension / Ethics and<br>regulatory compliance / Code of<br>Conduct / Training                                                                              |
| 7. Annexes                         |                                                                         | 2-30 Collective bargaining agreements                                                                                                                                       | Social Dimension / Talent /<br>Employee wellbeing / Collective<br>bargaining agreements and                                                                                                       | GRI 206: Anti-<br>competitive Behavior<br>2016                                      | 206-1 Legal actions for anti-competitive behavior, anti-trust,<br>and monopoly practices                                                                | There have been no cases related<br>to unfair competition, monopoly<br>practices and against free<br>competition.                                                       |
| 2023                               | GRI Standard                                                            | Divulgation                                                                                                                                                                 | Annual report reference                                                                                                                                                                           | GRI Standard                                                                        | Divulgation                                                                                                                                             | Annual report reference                                                                                                                                                 |
|                                    | GRI 207: Tax 2019                                                       | 207-1 Approach to tax                                                                                                                                                       | Gestamp Group / Economic Strategy<br>/ Fiscal Strategy                                                                                                                                            | GRI 304: Biodiversity<br>2016                                                       | 304-1 Operational sites owned, leased, managed in, or<br>adjacent to, protected areas and areas                                                         | The Double Materiality analysis<br>does not identify Biodiversity                                                                                                       |
|                                    |                                                                         | 207-2 Tax governance, control, and risk management                                                                                                                          | Gestamp Group / Economic Strategy<br>/ Fiscal Strategy                                                                                                                                            |                                                                                     | of high biodiversity value outside protected areas                                                                                                      | and ecosystems as material after<br>carrying out an exhaustive analysis                                                                                                 |
| <br>INDEX                          |                                                                         | 207-3 Stakeholder engagement and management of<br>concerns related to tax                                                                                                   | Gestamp Group / Economic Strategy<br>/ Fiscal Strategy                                                                                                                                            |                                                                                     | 304-2 Significant impacts of activities, products and services<br>on biodiversity                                                                       | of their most relevant impacts,<br>risks and opportunities. Gestamp<br>will monitor its interaction with                                                                |
|                                    |                                                                         | 207-4 Country-by-country reporting                                                                                                                                          | Gestamp Group / Economic Strategy<br>/ Fiscal Strategy                                                                                                                                            |                                                                                     | 304-3 Habitats protected or restored                                                                                                                    | biodiversity for a possible update<br>in future years. However, Gestamp                                                                                                 |
| 1. Letter from the Chairman        |                                                                         |                                                                                                                                                                             |                                                                                                                                                                                                   |                                                                                     |                                                                                                                                                         | reports information on biodiversity<br>in the following section of the 2023                                                                                             |
|                                    | GRI 301: Materials 2016                                                 | 301-1 Materials used by weight or volume                                                                                                                                    | Environmental Dimension /<br>Environmental Management                                                                                                                                             |                                                                                     |                                                                                                                                                         | Annual Report:<br>Environmental Dimension /<br>Environmental Management /                                                                                               |
| 2. Gestamp Group                   |                                                                         | 301-2 Recycled input materials used                                                                                                                                         | Environmental Dimension /<br>Environmental Management                                                                                                                                             | GRI 305: Emissions 2016                                                             | 304-4 IUCN Red List species and national conservation list                                                                                              | Protected areas and biodiversity<br>Environmental Dimension / Road to                                                                                                   |
| 3. ESG Perspective                 |                                                                         | 301-3 Reclaimed products and their packaging materials                                                                                                                      | Environmental Dimension /<br>Environmental Management                                                                                                                                             |                                                                                     | species with habitats in areas affected                                                                                                                 | neutrality / Metrics and targets                                                                                                                                        |
|                                    | GRI 302: Energy 2016                                                    | 302-1 Energy consumption within the organization                                                                                                                            | Environmental Dimension / Road to<br>neutrality / Metrics and targets                                                                                                                             |                                                                                     | by operations                                                                                                                                           | Environmental Dimension / Road to<br>neutrality / Metrics and targets                                                                                                   |
| 4. Environmental Dimension         |                                                                         |                                                                                                                                                                             |                                                                                                                                                                                                   |                                                                                     | 305-1 Direct (Scope 1) GHG emissions                                                                                                                    | Environmental Dimension / Road to<br>neutrality / Metrics and targets                                                                                                   |
|                                    |                                                                         | 302-2 Energy consumption outside of the organization                                                                                                                        | A, b: NO<br>C: Environmental Dimension / Road<br>to neutrality / Metrics and targets                                                                                                              |                                                                                     | 305-2 Energy indirect (Scope 2) GHG emissions                                                                                                           | Environmental Dimension / Road to<br>neutrality / Metrics and targets                                                                                                   |
| 5. Social Dimension                |                                                                         | 302-3 Energy intensity                                                                                                                                                      | Environmental Dimension / Road to<br>neutrality / Metrics and targets                                                                                                                             |                                                                                     | 305-3 Other indirect (Scope 3) GHG emissions                                                                                                            | Environmental Dimension / Road to<br>neutrality / Metrics and targets                                                                                                   |
| 6. Governance                      |                                                                         | 302-4 Reduction of energy consumption                                                                                                                                       | Environmental Dimension / Road to<br>neutrality / Metrics and targets                                                                                                                             |                                                                                     | 305-4 GHG emissions intensity                                                                                                                           | Environmental Dimension / Road to<br>neutrality / Metrics and targets                                                                                                   |
|                                    | GRI 303: Water and<br>Effluents 2018                                    | 303-1 Interactions with water as a shared resource                                                                                                                          | The Double Materiality analysis<br>carried out by Gestamp determines                                                                                                                              |                                                                                     | 305-5 Reduction of GHG emissions                                                                                                                        | Environmental Dimension / Road to<br>neutrality / Metrics and targets                                                                                                   |
| 7. Annexes                         |                                                                         | 303-2 Management of water discharge related impacts                                                                                                                         | that the information regarding                                                                                                                                                                    |                                                                                     |                                                                                                                                                         | neutrality / Metrics and targets                                                                                                                                        |
|                                    |                                                                         | 303-3 Water withdrawal                                                                                                                                                      | its interaction with water is not<br>material. However, it monitors your                                                                                                                          | GRI 306: Waste 2020                                                                 | 306-1 Waste generation and significant waste-related<br>impacts                                                                                         | Environmental Dimension / Environmental<br>Management / Waste management                                                                                                |
|                                    |                                                                         | 303-4 Water discharge                                                                                                                                                       | interaction with it and includes the<br>relevant information in the following<br>section:                                                                                                         |                                                                                     | 306-2 Management of significant wasterelated impacts                                                                                                    | Environmental Dimension / Environmental<br>Management / Waste management                                                                                                |
|                                    |                                                                         | 303-5 Water consumption                                                                                                                                                     | Environmental Dimension /<br>Environmental Management /<br>Sustainable use of resources / Water                                                                                                   |                                                                                     | 306-3 Waste generated                                                                                                                                   | Management / Waste management<br>Environmental Dimension / Environmental<br>Management / Waste management                                                               |

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Image /page/221/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in dark blue. To the right of the word is a square containing a stylized graphic, also in dark blue, that resembles a curved line with a small circle at the end.

ANNUAL REPORT

freedom of association

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ANNUAL REPORT 2023

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Image /page/223/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, dark blue font. To the right of the word is a stylized graphic in white against a dark blue square. The graphic consists of a curved line with a circle at the end, suggesting movement or connectivity.

#### ANNUAL REPORT 2023

| INDEX |  |
|-------|--|

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

| GRI Standard                                          | Divulgation                                                                                                            | Annual report reference                                                         | GRI Standard                                     | Divulgation                                                                                           | Annual report reference                                                                                                                                 |
|-------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------|--------------------------------------------------|-------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------|
| GRI 306: Waste 2020                                   | 306-4 Waste diverted from disposal                                                                                     | Environmental Dimension / Road to<br>neutrality / Metrics and targets           | GRI 404: Training and<br>Education 2016          | 404-1 Average hours of training per year per employee                                                 | Social Dimension / Talent / Talent<br>development and training                                                                                          |
|                                                       | 306-5 Waste directed to disposal                                                                                       | Environmental Dimension / Road to<br>neutrality / Metrics and targets           |                                                  | 404-2 Programs for upgrading employee skills and transition<br>assistance programs                    | Social Dimension / Talent / Talent<br>development and training                                                                                          |
| GRI 308: Supplier<br>Environmental<br>Assessment 2016 | 308-1 New suppliers that were screened using<br>environmental criteria                                                 | Governance Dimension /<br>Responsible Supply Chain<br>Management                | GRI 405: Diversity and<br>Equal Opportunity 2016 | 405-1 Diversity of governance bodies and employees                                                    | Social Dimension / Talent / The<br>Gestamp workforce<br>Governance Dimension / Good<br>Governance and ethics / Good<br>governance / Governing Bodies    |
| GRI 401: Employment<br>2016                           | 401-1 New employee hires and employee turnover                                                                         | Annexes / Tables and additional<br>information                                  |                                                  |                                                                                                       |                                                                                                                                                         |
| GRI 402: Labor/<br>Management Relations<br>2016       | 402-1 Minimum notice periods regarding operational<br>changes                                                          | Annexes / Tables and additional<br>information                                  | GRI 406: Non-<br>discrimination 2016             | 406-1 Incidents of discrimination and corrective actions<br>taken                                     | Governance Dimension / Good<br>Governance and ethics / Ethics and<br>Regulatory Compliance / Code of<br>Conduct                                         |
| GRI 403: Occupational<br>Health and Safety 2018       | 403-1 Occupational health and safety management system                                                                 | Social Dimension / Health and<br>safety / Gestamp's Health and Safety<br>System | GRI 413: Local<br>Communities 2016               | 413-1 Operations with local community engagement, impact<br>assessments, and development programs     | After the Double Materiality<br>analysis, it is identified that the<br>Affected Communities theme is not                                                |
|                                                       | 403-2 Hazard identification, risk assessment, and incident<br>investigation                                            | Social Dimension / Health and<br>safety / Gestamp's Health and Safety<br>System |                                                  | 413-2 Operations with significant actual and potential<br>negative impacts on local communities       | material for the company. However,<br>the different related aspects will<br>continue to be monitored to report<br>on them in future years if necessary. |
|                                                       | 403-4 Worker participation, consultation, and<br>communication on occupational health and safety                       | Social Dimension / Health and<br>safety / Gestamp's Health and Safety<br>System | GRI 414: Supplier Social<br>Assessment 2016      | 414-1 New suppliers that were screened using social criteria                                          | Governance Dimension /<br>Responsible Supply Chain<br>Management / New purchasing<br>model                                                              |
|                                                       | 403-5 Worker training on occupational health and safety                                                                | Social Dimension / Health and safety                                            |                                                  |                                                                                                       |                                                                                                                                                         |
|                                                       | 403-6 Promotion of worker health                                                                                       | Social Dimension / Health and safety<br>/ 2023 Highlights                       | GRI 415: Public Policy<br>2016                   | 415-1 Political contributions                                                                         | Governance Dimension / Good<br>Governance and ethics / Ethics and<br>Regulatory Compliance / Code of<br>Conduct                                         |
|                                                       | 403-7 Prevention and mitigation of occupational health and<br>safety impacts directly linked by business relationships | Social Dimension / Health and<br>safety / Gestamp's Health and Safety<br>System | GRI 418: Customer<br>Privacy 2016                | 418-1 Substantiated complaints concerning breaches of<br>customer privacy and losses of customer data | Governance Dimension / Good<br>Governance and ethics / Ethics and<br>Regulatory Compliance / Code of<br>Conduct                                         |
|                                                       | 403-8 Workers covered by an occupational health and safety<br>management system                                        | Social Dimension / Health and<br>safety / Gestamp's Health and Safety<br>System |                                                  |                                                                                                       |                                                                                                                                                         |
|                                                       | 403-10 Work-related ill health                                                                                         | Social Dimension / Health and safety                                            |                                                  |                                                                                                       |                                                                                                                                                         |

/ 2023 Balance

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ANNUAL REPORT 2023

# 7.7 SASB indicators

[INDEX](#page-1-0)

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

The Sustainability Accounting Standards Board (SASB) indicators for the sector are presented below: Transportation - Auto Parts industry. Matter Indicator Reference

|  | Matter                     | Indicator                                                                                                                                   | Reference                                                                                                                                         |
|--|----------------------------|---------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------|
|  | Energy management          | TR-AP-130a.1: (1) Total energy consumed, (2) percentage grid electricity. (3) percentage renewable                                          | Environmental Dimension /<br>Road to neutrality / Metrics and<br>targets                                                                          |
|  | Waste management           | TR-AP-150a.1: (1) Total amount of waste from manufacturing.<br>(2) percentage hazardous, (3) percentage recycled                            | Environmental Dimension /<br>Environmental management /<br>Waste management                                                                       |
|  | Design for Fuel Efficiency | TR-AP-410a.1: Revenue from products designed to increase<br>fuel efficiency and/or reduce emissions                                         | Gestamp Group / Operational<br>Excellence / Innovation                                                                                            |
|  | Materials Sourcing         | TR-AP-440a.1: Description of the management of risks<br>associated with the use of critical materials                                       | Environmental Dimension<br>/ Road to neutrality / Risk<br>management<br>Governance Dimension / Good<br>Governance and Ethics / Risk<br>Management |
|  | Materials efficiency       | TR-AP-440b.1: Percentage of products sold that are<br>recyclable                                                                            | Environmental Dimension /<br>Circularity<br>Environmental Dimension /<br>Environmental Management /<br>Waste Management                           |
|  |                            | TR-AP-440b.2: Percentage of input materials from recycled<br>or remanufactured content                                                      | Environmental Dimension /<br>Circularity                                                                                                          |
|  | Competitive behaviour      | TR-AP-520a.1: Total amount of monetary losses as a result<br>of legal proceedings associated with anti-competitive<br>behaviour regulations | Governance Dimension /<br>Good Governance and Ethics<br>/ Compliance in terms of<br>Competition                                                   |

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<span id="page-225-0"></span>Image /page/225/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, sans-serif font in a dark blue color. To the right of the word is a square containing a stylized graphic of curved lines, also in dark blue.

ANNUAL REPORT 2023

Image /page/225/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked on top of each other.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

# 7.8 UN Global Compact

In 2008 we endorsed the Principles of the Global Compact, and in 2011 we became a partner. Our commitment to these principles related to human rights, labour rights, environment and anticorruption is reflected each year in the Sustainability Report and in the progress report published annually, which is available on the Global Compact website:

#### **[www.pactomundial.org](https://www.pactomundial.org/)**

#### **[www.unglobalcompact.org/what-is-gc/participants/4608](https://unglobalcompact.org/what-is-gc/participants/4608)**

Image /page/225/Picture/15 description: The image shows the logo for the United Nations Global Compact. On the left is a circular emblem with a stylized globe inside, surrounded by the words "UN GLOBAL COMPACT" in a circular arrangement. Below the globe is a laurel wreath. To the right of the emblem are the words "United Nations Global Compact" in a simple, sans-serif font.

| ASPECTS         | PRINCIPLES OF THE GLOBAL COMPACT                                                                                                    | GRI INDICATORS                                                             | SDGS                |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------|---------------------|
| General scopes  |                                                                                                                                     |                                                                            |                     |
| Human Rights    | 1. Businesses should support and respect the protection of internationally proclaimed human rights within their sphere of influence | 403-2, 403-3, 405-1, 405-2, 406-1, 407-1, 409-1, 414-1, 416-1              | 1 2 3 4 5 6 7       |
|                 | 2. Businesses should make sure that they are not complicit in human rights abuses                                                   | 414-1, 406-1-409-1                                                         | 10 11 16 17         |
| Labour Rights   | 3. Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining          | 402-1, 407-1, 414-1                                                        | 1 3 5 8 9 10 16 17  |
|                 | 4. Businesses should uphold the elimination of all forms of forced and compulsory labour                                            | 409-1, 414-1                                                               |                     |
|                 | 5. Businesses should uphold the effective abolition of child labour                                                                 | 409-1, 412-2,                                                              |                     |
|                 | 6. Businesses should uphold the elimination of discrimination in respect of employment and occupation                               | 401-1, 405-1, 405-2, 406-1, 414-1                                          |                     |
| Environment     | 7. Businesses should support a precautionary approach to environmental challenges                                                   | 301-3, 302-1, 303-1, 304-2, 305-1-305-3, 306-1, 306-2, 307-1, 416-1, 417-1 | 2 6 7 9 11 12 13 14 |
|                 | 8. Businesses should undertake initiatives to promote greater environmental responsibility                                          | 201-2                                                                      | 15 17               |
|                 | 9. Businesses should encourage the development and diffusion of environmentally-friendly technologies                               | 301-3                                                                      |                     |
| Anti-corruption | 10. Businesses should work against corruption in all its forms, including extortion and bribery                                     | 205-1,                                                                     | 3 10 16 17          |

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<span id="page-226-0"></span>Image /page/226/Picture/0 description: The image shows the word "Gestamp" in a bold, dark blue font. To the right of the word is a stylized graphic, also in dark blue, that resembles a curved line with a small circle at one end.

#### ANNUAL REPORT 2023

Image /page/226/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked vertically.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

# 7.9 Companies of the Group

As of 31 December 2023, the Group comprised the following subsidiaries throughout the world whose holding company is Gestamp Automoción S.A.:

#### AFRICA

Gescrap Morocco, S.R.L. Tuyauto Gestamp Morocco, S.A.

#### NORTH AMERICA

Autotech Engineering R&D USA, Inc. Edscha Automotive Michigan, Inc Edscha Automotive SLP Servicios Laborales, S.A.P.I. de C.V. Edscha Automotive SLP, S.A.P.I. de C.V. Edscha North America Technologies, Llc. Ges Recycling Alabama, LLC Ges Recycling Michigan, LLC Ges Recycling South Carolina, LLC Ges Recycling Tennessee, LLC Ges Recycling USA, LLC Ges Recycling West Virginia, LLC Gescrap Autometal Mexico, S.A. de C.V. Gescrap Autometal Mexico Servicios, S.A. de C.V. Gestamp Aguascalientes, S.A.de C.V. Gestamp Alabama, LLc. Gestamp Cartera de México, S.A. de C.V. Gestamp Chattanooga II, Llc Gestamp Chattanooga, Llc Gestamp Mason, LLc. Gestamp Mexicana de Serv. Laborales, S.A. de C.V.

Gestamp Mexicana Serv. Lab. II, S.A. de CV Gestamp North America, INC Gestamp Puebla II, S.A. de C.V. Gestamp Puebla, S.A. de C.V. Gestamp San Luis Potosí, S.A.P.I. de C.V. Gestamp South Carolina, Llc Gestamp Toluca SA de CV Gestamp Washtenaw, LLc. Gestamp West Virginia, Llc. GGM Puebla Servicios Laborales, S.A. de C.V. GGM Puebla, S.A. de C.V. Gestamp Holding Hamilton, Inc Gestamp Saint Clair, LLc Gestamp Stanton, LLc Loire USA, LLc Soluciones de Gestión de Residuos Mexicana, S.A. de C.V.

#### SOUTH AMERICA

Edscha do Brasil Ltda. Gescrap - Autometal Comercio de Sucatas, S/A Gestamp Argentina, S.A. Gestamp Baires, S.A. Gestamp Brasil Industria de Autopeças, S.A. Gestamp Córdoba, S.A. Gestamp Sorocaba Industria Autopeças Ltda.

#### ASIA

Anhui Edscha Automotive Parts Co Ltd. Autotech Engineering (Shangai) Co. Ltd. Beyçelik Gestamp Otomotive Sanayi, A.S. Beyçelik Gestamp Sasi Otomotive Sanayi, A.S. Beyçelik Gestamp Teknoloji ve Kalip Sanayi, A.S. Çelik Form Gestamp Otomotive, A.S. Changchun Xuyang Gestamp Auto Components Co. Ltd. Edscha Aapico Automotive Co. Ltd Edscha Aditya Automotive Systems Private Limited Edscha Automotive Components (Chongqing) Co. Ltd. Edscha Automotive Components (Kunshan) Co., Ltd. Edscha Automotive Components (Shanghai) Co., Ltd Edscha Automotive Technology (Shangai) Co., Ltd. Edscha Japan Co., Ltd. Edscha Pha Automotive Components (Kunshan) Co., Ltd. Edscha Pha, Ltd. Edscha Togliatti, Llc. Gescrap India Private Limited Gescrap Rus, LLC Grescrap Turkey Metal Sanayi ve Ticaret Limited Sirketi Gestamp (China) Holding, Co. Ltd Gestamp Auto Components (Beijing) Co., Ltd. Gestamp Auto components (Chongqing) Co., Ltd. Gestamp Auto Components (Dongguan), Co. Ltd. Gestamp Auto Components (Kunshan) Co., Ltd Gestamp Auto Components (Shenyang), Co. Ltd.

Gestamp Auto Components (Tianjin) Co., LTD. Gestamp Auto Components Sales (Tianjin) Co., LTD. Gestamp Auto Components Wuhan, co. Ltd. Gestamp Automotive Chennai Private Ltd. Gestamp Automotive India Private Ltd. Gestamp Autotech Japan K.K. Gestamp Hot Stamping Japan Co. Ltd. Gestamp Kartek Corp. Gestamp Metal Forming (Wuhan), Ltd Gestamp New Energy Vehicle Components (Beijing) Co., LTD. Gestamp Pune Automotive, Private Ltd. Gestamp Services India Private, Ltd. Gestamp Severstal Kaluga, LLc Gestamp Severstal Vsevolozhsk Llc Gestamp Togliatti, Llc. Gestool Tooling Manufacturing (Kunshan), Co., Ltd Indutrial Steel Recycling, L.L.C. Jui Li Edscha Body Systems Co., Ltd. Jui Li Edscha Hainan Industry Enterprise Co., Ltd. Jui Li Edscha Holding Co., Ltd. Shanghai Edscha Machinery Co., Ltd.

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#### ANNUAL REPORT 2023

Image /page/227/Picture/3 description: The image shows the word "INDEX" in blue, with three horizontal blue lines above it. The lines are of equal length and are stacked on top of each other.

[1. Letter from the Chairman](#page-2-0)

[2. Gestamp Group](#page-4-0)

[3. ESG Perspective](#page-49-0)

[4. Environmental Dimension](#page-59-0)

[5. Social Dimension](#page-107-0)

[6. Governance](#page-155-0)

[7. Annexes](#page-199-0)

#### EUROPE

Adral, matriceria y pta. a punto, S.L. Almussafes Mantenimiento de Troqueles, S.L. Automated Joining Solutions, S.L. Automotive Chassis Products Plc. Autotech Engineering Deutschland GmbH Autotech Engineering France S.A.S. Autotech Engineering R&D Uk limited Autotech Engineering S.L. Autotech Engineering Spain, S.L. Beta Steel, S.L. Car Recycling, S.L. Diede Die Developments, S.L. DJC Recyclage Edscha Automotive Hauzenberg GmbH Edscha Automotive Hengersberg GmbH Edscha Automotive Kamenice S.R.O. Edscha Briey S.A.S. Edscha Burgos, S.A. Edscha Engineering France S.A.S. Edscha Engineering GmbH Edscha Hauzenberg Real Estate GmbH & Co. KG Edscha Hengersberg Real Estate GmbH & Co. KG Edscha Holding GmbH Edscha Hradec S.R.O. Edscha Kunststofftechnik GmbH Edscha Mechatronics Solutions, GmbH Edscha Santander, S.A. Edscha Velky Meder S.R.O. Etem Gestamp Aluminium Extrusions, S.A. Flycorp, S.L. Ges Recycling Limited Ges Recycling Polska Sp. Z.o.o Gescrap Aragón, S.L. Gescrap Catalunya, S.L.

Gescrap Centro, S.L. Gescrap Czech, s.r.o. Gescrap Desarrollo, S.L. Gescrap France, S.A.R.L. Gescrap GmbH Gescrap Hungary, KFT Gescrap LT, UAB Gescrap Navarra, S.L. Gescrap Noroeste, S.L. Gescrap Polska Sp. Z.o.o. Gescrap Romania, S.R.L. Gescrap S.L. Gescrap Servicios Portuarios, S.L. Gescrap Slovakia, s.r.o. Gescrap Trading, S.L. Gestamp 2008, S.L. Gestamp 2017, S.L.U. Gestamp Abrera, S.A. Gestamp Aragón, S.A. Gestamp Automoción, S.A. Gestamp Aveiro-Indústria de acessórios de Automóveis, S.A. Gestamp Beycelik Romania, S.R.L. Gestamp Bizkaia, S.A. Gestamp Cerveira, Lda. Gestamp Esmar, S.A. Gestamp Etem Automotive Bulgaria, S.A. Gestamp Global Tooling, S.L. Gestamp Griwe Haynrode, Gmbh Gestamp Griwe Westerburg, Gmbh Gestamp HardTech, AB Gestamp Holding Argentina, S.L. Gestamp Holding China, AB Gestamp Holding México, S.L. Gestamp Holding Rusia, S.L. Gestamp Hungaria KFT Gestamp Ingeniería Europa Sur, S.L.

Gestamp Levante, S.A. Gestamp Linares, S.A. Gestamp Louny, S.R.O. Gestamp Manufacturing Autochasis, S.L. Gestamp Metalbages, S.A. Gestamp Navarra, S.A. Gestamp Nitra, S.R.O. Gestamp North Europe Services, S.L. Gestamp Noury, S.A.S Gestamp Palau, S.A. Gestamp Palencia, S.A. Gestamp Polska, SP. Z.O.O. Gestamp Prisma, S.A.S Gestamp Proyectos Automoción 1, S.L. Gestamp Proyectos Automoción 3, S.L. Gestamp Ronchamp, S.A.S Gestamp Servicios, S.A. Gestamp Solblank Barcelona, S.A. Gestamp Sweden, AB Gestamp Tallent, Ltd Gestamp Tech, S.L. Gestamp Technlogy Institute, S.L. Gestamp Toledo, S.A. Gestamp Tool Hardening, S.L. Gestamp Tooling Engineering Deutschland, GmbH Gestamp Tooling Erandio, S.L. Gestamp Tooling Services, AIE Gestamp Try Out Services, S.L. Gestamp Umformtechnik GmbH Gestamp Vendas Novas Lda. Gestamp Vigo, S.A. Gestamp Wroclaw Sp.z,o.o. Gestión Global de Matricería, S.L. Global Laser Araba, S.L. GMF Holding GmbH Gestamp Wolfsburg, GmbH

Industrias Tamer, S.A. Ingeniería Global Metalbages, S.A. Ingeniería y Construcción de Matrices, S.A.U IxCxT, S.A.U Loire Sociedad Anónima Franco Española Lusoscrap, Lda Mursolar 21, S.L. Recuperaciones Férricas Asturianas, S.L. Recuperaciones Férricas Integrales, S.A. Recuperaciones Medioambientales Industriales, S.L. Refeinsa Centro, S.L. Refeinsa Navarra, S.L. Reimasa Recycling, S.L. Reparaciones Industriales Zaldibar, S.L. Samper-Refeinsa Galicia, S.L. SCI de Tournan Sideacero, S.L. Smart Industry Consulting and Technologies, S.L.U Sofedit, S.A.S Todlem, S.L. Transportes Basegar, S.A.

#### CORPORATE HEADQUARTERS

#### **GESTAMP AUTOMOCIÓN**

Polígono industrial de Lebario 48220 Abadiño – Vizcaya (Spain)

**GRUPO GESTAMP**

Calle Alfonso XII, 16 28014 Madrid (Spain)

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<span id="page-228-0"></span>Image /page/228/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, dark blue font. To the right of the word is a stylized graphic of a curved line ending in a circle, all contained within a dark blue square.

# 7.10 Report on Independent Review

| INDEX                       |  |
|-----------------------------|--|
| 1. Letter from the Chairman |  |
| 2. Gestamp Group            |  |
| 3. ESG Perspective          |  |
| 4. Environmental Dimension  |  |
| 5. Social Dimension         |  |
| 6. Governance               |  |
| 7. Annexes                  |  |

Independent Limited Assurance Non-Financial Statement for the GESTAMP AUTOMOCIÓN, S.A.

|                                 | Ernst & Young, S.L. C/ Raimundo Fernández Villaverde, 65 28003 Madrid | Tel: 902 365 456 Fax: 915 727 238 ey.com |
|---------------------------------|-----------------------------------------------------------------------|------------------------------------------|
| Building a better working world |                                                                       |                                          |

INDEPENDENT LIMITED ASSURANCE REPORT ON THE (CONSOLIDATED) NON-FINANCIAL
INFORMATION STATEMENT

Translation of a report originally issued in Spanish. In the event of discrepancy,
the Spanish-language version prevails.

To the Shareholders of GESTAMP AUTOMOCIÓN, S.A.:

Pursuant to Article 49 of the Code of Commerce we have performed a verification, with a limited
assurance scope, of the accompanying Consolidated Non-Financial Information Statement
(hereinafter NFS) for the year ended December 31, 2023, of GESTAMP AUTOMOCIÓN, S.A. and
subsidiaries (hereinafter the Group) that forms part of the accompanying Consolidated Directors'
report of the Group.

The content of the NFS includes additional information to that required by prevailing mercantile
regulations in relation to non-financial information that has not been subject to our verification. In
this regard, our assignment has been exclusively limited to the verification of the information shown
In Annex B "Table of contents as required by Law 11/2018" included in the accompanying NFS.

Responsibility of the Board of Directors

The preparation of the NFS included in the Consolidated Directors' report of GESTAMP
AUTOMOCIÓN, S., and its content, is the responsibility of the Board of Directors of GESTAMP
AUTOMOCIÓN, S.A. The NFS has been prepared in accordance with the content required by current
mercantile regulations and in conformity with the criteria outlined in the selected Sustainability
Reporting Standards of Global Reporting Initiative (GRI standards) selected, as well as other criteria
described in accordance with that indicated for each subject in Annex B "Table of contents as
required by Law 11/2018" included in the accompanying NFS.

The Board of Directors are also responsible for the design, implementation and maintenance of such
internal control as they determine as necessary to enable the preparation of an NFS that is free from
material misstatement, whether due to fraud or error.

They are further responsible for defining, implementing, adapting and maintaining the management
systems from which the information necessary for the preparation of the NFS is obtained.

| Domicilio Social: Calle de Raimundo Fernández Villaverde, 65. 28003 Madrid - inscrita en el Registro Mercantil de Madrid, tomo 9.364 general, 6.130 de la sección 3ª del Libro de Sociedades, folio 66, hoja nº 87.690-1, Inscripción 1ª, C.I.F.: B-78970506. |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| A member firm of Ernst & Young Global Limited.                                                                                                                                                                                                                |

{229}------------------------------------------------

7. ANNEXES | 7.1 Tables and additional information | 7.2 Policies and other rules of the Group | 7.3 About this report | 7.4 Double materiality Methodology | 7.5 Table of contents
7.6 GRI Standards Indicators | 7.7 SASB indicators | 7.8 UN Global Compact | 7.9 Companies of the Group | 7.10 Report on Independent Review

ANNUAL REPORT
2023

INDEX

1. Letter from the Chairman
2. Gestamp Group
3. ESG Perspective
4. Environmental Dimension
5. Social Dimension
6. Governance
7. Annexes

A member firm of Ernst & Young Global Limited

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Image /page/230/Picture/0 description: The image shows the logo for Gestamp. The word "Gestamp" is written in a bold, dark blue font. To the right of the word is a dark blue square containing a white graphic that resembles a stylized "G" or a curved line with a circle at the end.

#### **Gestamp S.A.** C/ Alfonso XII, 16 28014, Madrid, Spain [www.gestamp.com](https://www.gestamp.com/es/home)

If you need any clarifications, or have questions or suggestions related to the report: [GestampESG@gestamp.com](mailto:GestampESG%40gestamp.com?subject=)