SUSTAINABILITY REPORT 2025

Social

Social impact includes the relationship and response of GRI Renewable Industries with its main stakeholders, such as employees, customers, suppliers, and society, particularly in the local communities where it operates.

People

At GRI Renewable Industries, having a strategy that enables us to attract highly trained and motivated professionals is key to growing as a competitive, solid, and sustainable company, as the company’s future depends largely on the commitment and work of its team.

For this reason, the People department is dedicated to ensuring stable, high-quality employment with opportunities for growth and promotion among employees.

According to the scope of this Report, in 2025 GRI Renewable Industries had 5,698 professionals (5,153 direct employees and 545 contractors), compared to 5,901 professionals (5,347 direct employees and 554 contractors) in fiscal year 2024, representing a 3.4% reduction in the workforce.

We also prioritize local employment to create value in the countries where we operate. 96% of the workforce is locally sourced.

Further information is provided in tables in Appendix II.

*The total number of employees differs from that published in the annual financial statements because the scope of the report is different.
**The headcount calculation takes into account the number of hours worked: 12,297,808, which may result in decimals in the overall calculation. To simplify the presentation of results, the data is shown rounded and without decimals.

Labor relations

GRI Renewable Industries supports the rights to freedom of association, union representation, and collective bargaining. In all cases, the labor requirements and obligations of each country are always applied.

About 96% of employees are covered by sector-specific collective bargaining agreements or similar agreements.

The remaining 4% are covered by a “Handbook” or other agreements that stipulate working conditions, rules of conduct, wages, benefits, etc.

No facilities or suppliers have been identified where freedom of association and the right to collective bargaining may be infringed upon or threatened at operating sites.

Leave for childbirth and child care. Maternity/paternity

Regarding paternity and maternity leave (401-3), 60 men took paternity leave, and 85% remain with the company. In the case of women, of the 8 who took leave, 88% remain with the company.

SuccessFactors

Project to implement a common HR ERP system for all GRI Renewable Industries companies: SuccessFactors (People Management Tool). Launched in 2023, its development and evolution within the company continued throughout 2024 and 2025.

The objectives of implementing this tool are:

To promote the standardization of information at the Group level
Enable the generation of valid KPIs for decision-making
Contribute to the creation of a culture of digitalization

People Employee Journey

GRI Renewable Industries recognizes the importance of people and views them as a strategic asset of the company, relying on outstanding professionals across all business areas and in every country.

Having a strategy that ensures we have trained, qualified, and motivated professionals in a pleasant work environment is key to growing as a competitive, solid, and sustainable company, as the company’s development and future depend on the commitment and work of its team.

For this reason, talent management is considered a strategic objective for the company, and in 2022, GRI People designed the “Employee Journey” model, which was officially implemented in 2023 and which we continue to improve year after year.

The Employee Journey model is the foundation of the People department’s management system, which is people-centered and aligned with the company’s Strategic Plan, tracking the employee’s lifecycle within the company. The model identifies different “families” or specific areas of action within the People department that have a critical impact on employees and accompany them through the different stages of their cycle at the company, from start to finish.

Below is a brief description of the different advances made in each of the families:

1. Talent Acquisition

GRI Renewable Industries’ goal is to have the best professionals available to fill the various vacant positions within the company. Attracting talent—especially young professionals with development potential—has become one of the main challenges for the People area internationally in recent years, against a backdrop of growing competition to recruit high-value profiles with growth potential, coupled with candidates being less proactive in seeking opportunities and a decline in the number of candidates interested in pursuing a career in manufacturing compared to options with a more digital focus and less physical demands. In light of this situation, GRI has intensified its efforts to improve its positioning as an attractive option for both the start and the professional development of candidates.

As a new talent attraction initiative for 2025, our U.S. plant has established a “referral bonus” as a new measure to attract talent. If an employee is hired through a referral from another employee, the person who recruited the new employee receives a non-vesting bonus after 30 days, another after 6 months, and a final non-vesting bonus after one year, provided the new employee does not voluntarily leave before the periods specified in this policy.

2. Recruitment / Selection

GRI’s objective in recruitment and selection is to find the most suitable candidate in the shortest possible time, ensuring maximum efficiency and quality throughout the process. This includes interviews with the People team and with the managers or directors of the hiring departments, with an initial preliminary contact typically held to introduce the company and the project and gauge the candidate’s interest.

Depending on the nature of the position, additional technical tests may be conducted, such as language proficiency or welding skills, as well as personal profile questionnaires using the Predictive Index tool to understand the candidate’s profile and natural behavioral tendencies.

To fill vacancies, we use both internal tools, such as the global Job Posting system, and external ones, primarily InfoJobs and LinkedIn—with increasing use of direct candidate sourcing—as well as, when the process requires it, external recruitment firms.

In any case, and regardless of the methods used, the guiding principle remains to seek out the best candidate without discrimination based on factors unrelated to the position, thereby promoting equal opportunity.

3. Onboarding

The onboarding process focuses on welcoming, orienting, and familiarizing new employees within the organization, with the aim of facilitating their adaptation to their new role and work environment from the very beginning.

At GRI, the onboarding training for new hires must include at least the following content:

Training required by law related to the position (e.g., H&S)
Training on the company they are joining and the business group in general
Explanation of their job duties
Tour of the facilities and introduction to coworkers

We are working on digitizing the onboarding process as part of new employee training, with the aim of reducing paper use and standardizing certain training modules through a common digital tool.

Among the various initiatives in this area that have been implemented, we highlight:

Corporate:
New hires receive initial training from the People department on the Business Group, GRI’s history, business operations, production processes, and organizational structure, supplemented by departmental training, a tour of the facilities, an introduction to colleagues, and an explanation of their duties and responsibilities.

As part of their performance evaluation (MBO – Management by Objectives), they have a development objective focused on their adaptation to the position or the company. Additionally, two annual trips to production plants are organized, and the “Breakfast with the CEO” initiative for new hires continues.

South Africa:
The People department schedules an initial meeting to assess the new employee’s adaptation to the department, focusing on training needs and areas for improvement. Additionally, in 2025, the onboarding process was expanded to include the delivery of a Welcome Pack
in a metal bottle bearing the GRI logo, a notebook, and a screen-printed pen.
India:
New employees are welcomed by announcing their arrival at the reception desk on their first day of work.

4. Training and Knowledge

At GRI, we believe that training is essential for improving the skills of our employees, which is why we remain committed to developing the necessary training programs to help achieve this goal.

Academy: our online training platform

One of the most important tools is Academy, our training platform, which allows everyone to access the various courses and learning paths available.

In 2025, the 2,067 people registered on Academy completed a total of 2,589 hours of training, representing a significant increase compared to previous years.

Thus, we can highlight some of the training initiatives launched:

Implementation of the 2024-2025 Supply Chain Training Program: a one-year training program aimed at the global Supply Chain team, with learning paths tailored to participants’ profiles and focused on improving skills such as communication, team management, and time management.
Online language courses: Once again this year, online language training has been launched through Academy, with more than 80 company employees participating from Madrid, Turkey, South Africa, Seville, India, and FIHI.
Metal Industry Collective Agreement PRL Training for Office Staff at GRI Madrid: a new session of this training was held, serving as a refresher for those who completed it in 2021 and as an introductory course for new hires, with a total of 180 hours of instruction.

Other in-person training programs of interest:

On-site training program for the sales team: since late 2025, a program has been underway covering topics such as occupational safety and health, management systems, planning and production flow, as well as maintenance, procurement, and human resources to provide a comprehensive understanding of plant operations.
Leadership and Coaching Program for members of the Management Committee: throughout 2025, a multi-session coaching program was conducted to strengthen their leadership, team management, and strategic decision-making skills.

In 2025, a total of 77,721 hours of training were provided, representing a decrease from the 115,999 hours recorded in 2024. The average number of training hours per employee during the reporting period was 15.

In 2026, the company set a goal of providing at least 20 hours of training per employee by 2030.

5. Performance and Development

As part of the strategic objective to ensure that GRI has the best professionals to meet the challenges of today’s market, it is important not only to guarantee the proper attraction and selection of candidates but also to have a system that allows for the monitoring of their performance and development opportunities.

Performance:

Having a performance evaluation system allows employees to receive feedback on the performance of their duties and responsibilities. Headquarters has established a Global Performance Evaluation System applicable to all corporate employees, plant managers, and their direct reports. The model, based on Management by Objectives (MBO), sets the objectives at the start of the program that will serve as a reference for the annual evaluation and is managed through the People Management Tool – SuccessFactors.

MBO includes different categories of objectives (Company, Operational, Competency, General Performance, and Development), whose weighting is determined in advance by Senior Management based on the position’s organizational level. In 2025, the MBO profiles were adapted to the various corporate levels (Analyst, Technician, Senior Technician, Manager, Senior Manager, Head of, Director, Senior Director, Regional Director, and Chief). For plant employees, two profiles remain: Plant Director and Local Area Manager.

The system offers several advantages: it is participatory, as the employee agrees on operational objectives with their manager; it aligns individual performance with strategic objectives; it provides transparency by defining expectations at the start of the cycle; and it incorporates a continuous evaluation approach with a minimum of two mandatory feedback meetings (mid-year and year-end) to detect unsatisfactory performance early and redirect it appropriately.

At the end of the fiscal year, the employee completes a self-assessment of their performance against the various objectives (with the exception of the company-wide objective, for which the result is aggregate and applies to all employees). Each manager reviews the self-assessment, evaluates it, and meets with the employee to provide feedback and finalize the evaluation.

In total, the year ended with a total of 209 employees evaluated based on the centralized DPO system (74% men and 26% women), distributed as shown below.

Corporate performance evaluation:

In addition, most factories have their own performance evaluation systems. These include plant personnel, covering in many cases 100% of the workforce, using a methodology tailored to their operations that measures parameters such as versatility in the workplace. Below, we summarize the distribution of DPOs conducted by country.

In the reporting year, 70% of the total workforce at GRI Renewable Industries participated in a performance evaluation process.

Development

At GRI, we consider it essential that employees have opportunities for professional growth and development. In 2025, a new organizational model was implemented at the corporate level based on the analysis and evaluation of all positions—including the plant manager role—using a factor model that assesses objective criteria such as required education and experience, impact on decision-making, problem-solving, and communication skills.

As a result, the previous four-level structure (Chief, Director, Manager, Analyst) was expanded to ten organizational levels (Chief, Regional Director, Senior Director, Director, Head Of, Senior Manager, Manager, Senior Technician, Technician, and Junior Technician/Analyst), each with standards defined according to the evaluated factors. Additionally, employees are assessed on their level of consolidation using a five-level scale that reflects their maturity in the responsibilities associated with the position. The project—developed in 2024 and launched in January 2025—aims to establish a more structured organizational system that facilitates objective and transparent development programs.

During 2025, progress was made in integrating the new model with other development processes (succession, career, and competency plans), as well as in its potential extension to plant-level positions. Furthermore, since 2024, DPO Global’s plans have included development objectives not linked to performance evaluation, designed to support the employee’s professional growth. These objectives are set annually in the Development Plan agreed upon between the employee and their manager.

As part of this integration, since 2025, supervisors and employees must jointly analyze professional development expectations and areas for improvement, which will serve as the basis for defining the development objectives incorporated into the annual plan.

Finally, GRI maintains a global Job Posting system that allows corporate vacancies to be advertised internally and facilitates development opportunities at both the local and international levels. Additionally, each plant has its own internal job posting systems for positions that can be filled with internal staff.

Job stability is a priority for GRI Renewable Industries. As a result, 98.7% of professionals are on permanent contracts and 98.9% are full-time employees. Furthermore, we promote local employment, with 95% of employees being local nationals.

Turnover:

401-1

Hiring:

There were a total of 1,848 new hires among our own staff, distributed as shown below:

Departures:
A total of 1,109 departures were made by our own staff, the breakdown of which is summarized below:

The turnover rate was 23% (25% for men and 10% for women).

6. Compensation, Benefits, and Mobility

Its objective is to comprehensively and strategically manage policies and practices related to compensation and benefits offered to employees, as well as to facilitate internal mobility and mobility between different countries, taking into account both the expectations of professionals and legal requirements and internal policies to prevent discriminatory practices and promote equal opportunities in compensation and benefits for all employees.

6.1. Mobility – Start-up and Support Teams

GRI Renewable Industries offers its employees the opportunity to participate in temporary support projects at other centers or plants. These assignments involve forming teams of specialists who are sent to support centers or plants in times of need, whether during the opening of new plants or in response to other challenges related to changes in production, machinery, customers, products, etc.

At GRI Renewable Industries, we believe in the importance of gaining international experience to develop the professional skills required for professional practice in an increasingly global and multicultural world. Therefore, the “Start-up and Support Teams” system allows us to offer employees from different parts of the world the opportunity to participate in international projects and collaborate with teams from other cultures through temporary assignments in other countries. These teams also facilitate the transfer of knowledge and know-how from more experienced employees, sharing and improving work methodologies and practical skills.

In recent years, we have created and trained specific Ramp-up/Support teams at various plants, comprising both direct and indirect labor. More than 160 employees have been trained in various skills at factories in Spain and the Americas. In the coming years, we will continue this initiative by training and empowering employees at more of the group’s plants.

Regarding the intra-company transfer of employees, this year we have continued with a significant movement, which has also increased certain employees’ access to positions offered outside their countries of residence. During 2025, more than 100 employees were transferred to other company plants or centers around the world.

We offer travel assistance insurance through two policies: a travel assistance policy that covers all medical expenses abroad, 24-hour assistance, etc., and a second policy that provides coverage for travel accidents while abroad.

6.2. Flexibility and Work-Life Balance

(401-3)

Work-life balance is one of the aspects most valued by professionals at GRI Renewable Industries. For this reason, at our corporate offices we offer flexible start and end times. In the factories, this is more complex, as work is organized in shifts based on customer needs; therefore, we strive to offer individual flexibility to those employees who require it due to their personal circumstances.

In recent years, a series of new work-life balance measures have been implemented at the corporate offices:

Flexible start times have continued, between 7:30 a.m. and 9:30 m. Employees also have the option to take a 30-minute lunch break and leave work early.
The summer intensive workday is extended from July 1 through September 12.
Vacation time can be taken for two weeks outside of July and August, either all at once or in up to three separate periods.
In 2025, a lactation room was set up at the corporate offices.

As additional initiatives in 2025, in addition to employees being able to enjoy a company-paid breakfast on their birthday and a free afternoon to spend time with family and friends, employees have been offered the opportunity to join a gym subsidized 50% by the company within the same complex where the new corporate offices are located.

At our production plant in Argentina, improvements have been made to all offices, notably including the expansion of the women’s changing rooms at the plant.

6.3. Compensation

In line with its corporate human rights policy, GRI Renewable Industries aims to ensure that 100% of its employees receive a decent and adequate wage, above the minimums established by local legislation in each country. This wage is intended to meet the basic needs of workers and their families, taking into account the duties performed and the length of the workday. We adhere to the standards of the International Labour Organization (ILO) and applicable legislation, ensuring an appropriate work-life balance, including regular payment for overtime, as well as vacation and rest periods.

Employee compensation is established annually in collective bargaining agreements for each professional category, including salary increases. These agreements also cover overtime, variable pay, and various allowances such as night shift premiums, etc., tailored to their specific activity, factory, and country.

Additionally, the launch of the new organizational model in 2025 at the corporate level has also involved an analysis of the market situation for positions at the various identified organizational levels, establishing salary bands that allow for more effective and transparent management, with the dual objective of ensuring both internal equity and external competitiveness in our compensation.

6.4. Flexible Compensation and Employee Benefits

(201-3 and 401-2)

GRI Renewable Industries is a diverse company where employee benefits are not uniform, but rather tailored to the characteristics of the different plants and countries. Their distribution is summarized below:

Argentina: includes health insurance for non-union employees, with the employee paying a portion (by law) and the company covering the remainder; staff have access to an on-site cafeteria and free parking, as well as discounts for fitness activities and healthy eating through a well-known Argentine food chain. Training is provided by the company.
Brazil: Includes life and disability insurance, health insurance, cafeteria or dining hall services, as well as transportation assistance. The company also has agreements with pharmacies and other services such as dental care, and offers benefits for maternity/paternity leave.
China: SIHI offers a shuttle bus, free employee housing (available upon request), quarterly and annual gifts (such as the Christmas basket in Spain), and sports competitions like basketball and soccer games, etc.
United States: Includes life and disability insurance, health insurance, as well as a voluntary retirement plan for full-time employees where the company contributes the majority and the employee only 3%, and benefits for maternity leave. Additionally, in recent years, a new gas allowance was implemented for employees living outside the city of Amarillo, and the company’s contribution to insurance premiums has been increased. A $25 gift card was also given to all employees for Thanksgiving, and a $50 gift card for Christmas. Furthermore, in 2025, to promote employee retention, three non-consolidated payments were established for new hires at 30 days, 6 months, and one year.
Turkey: Includes life insurance, childbirth allowance, death benefit for employees’ families, allowance for children’s school supplies, among others.
India: Includes life and disability insurance, health insurance, cafeteria or dining hall services, and pension plan contributions. In the case of India II, transportation services are also provided.
South Africa: In recent years, the performance incentive plan launched the previous year was consolidated, with quite positive results in terms of fulfillment. The transportation service for blue-collar workers was also maintained.
Spain: Includes life and disability insurance. Additionally, pension funds are available at FIHI Forging, as stipulated in the Guipúzcoa Metal Workers’ Agreement, which governs the Iraeta plant. To celebrate Christmas, a basket of holiday treats is distributed to all corporate employees to enjoy with their families. And we have continued with Asterradoc: a free medical chat service for all employees in Spain.

In addition, in Spain, the “Flexible Compensation Plan” is offered on a voluntary basis, allowing employees to include various services within their compensation package and thus take advantage of tax benefits established by law. The main products offered under the plan are:

Health Insurance
Restaurant card
Transportation card
Daycare vouchers

*Includes only GRI policyholders, not their families.

6.5. Be Healthy Health Improvement Programs

(403-6)

We continue to work on promoting healthy habits among our employees through various initiatives:

Participation in the Ponle Freno Race: In November, to mark the 11th anniversary of Emotional Driving, GRI participated in this event held in Madrid. Runners from GRI Galicia, GRI Madrid, and GRI Sevilla were able to test their athletic abilities in the 5- and 10-kilometer races.
Participation in the 2025 Women’s Race: In May, GRI runners participated in a new edition of the Women’s Race held in Madrid with the aim of supporting the fight against cancer and promoting sports as a lifestyle.

Other activities held at GRI Madrid:

Paddle Tennis Week and Tennis Week were held at the Francisco Riberas Pampliega Sports Courts.
Functional training sessions every Tuesday and Thursday at noon.
Periodic body composition analyses.
Signing of an agreement with Fitness Park (a chain of gyms) so that employees can use any gym in the chain at a discounted annual rate, with the company covering half of each employee’s annual membership fee.

6.6. Work organization, work-life balance measures, and disconnecting from work

(401-3, 401-4)

Work-life balance is one of the aspects most valued by our professionals. For this reason, office staff have flexibility regarding vacation dates, start and end times, and intensive workdays in the summer.

In the factories, due to the nature of the business, operations continue uninterrupted and sometimes 24 hours a day, so certain groups must work in shifts. This work organization does not prevent the rotation of such shifts from being encouraged, with the aim of facilitating the adjustment of work schedules to individual needs.

To address these issues, the group has:

Working Conditions Policy
Corporate Digital Disconnection Policy

7. Diversity

At GRI, we are committed to fostering an inclusive and respectful work environment for all our employees. We firmly believe in the importance of diversity. We value diversity in all its forms, including, but not limited to, race, gender, age, sexual orientation, religion, disability, and ethnic origin. Diversity in the workforce is essential for innovation, driving significant change, and continuing to create new business opportunities.

Regarding employees with disabilities, we currently have 51 employees (86% men and 14% women).

At our corporate offices, we maintain a fluid collaboration and develop initiatives with Special Employment Centers, such as purchasing fresh fruit, buying baby gift baskets for employees’ newborns, renting rooms for various events, etc. This allows us to integrate people with disabilities and/or at risk of social exclusion. Among other initiatives, we support the Juan XXIII Roncalli Foundation through team-building activities at the Foundation’s facilities; projects to generate business ideas for creating new products and services; and volunteer activities. In 2025, we attended a day at the “Puy de Fou” medieval festival, which was attended by GRI employees and their families along with a group of young people from the Foundation.

8. Equality

For GRI Renewable Industries, gender equality is one of the strategic pillars of its people management model. Measures related to equality and non-discrimination are outlined in the respective collective bargaining agreements or handbooks applicable in each case.

In terms of gender distribution, the workforce is 85% men and 15% women.

Throughout 2025, the corporate offices continued to promote the “Women Who Inspire” project, which involves sending a newsletter to all employees to raise the profile of selected women within the Group and promote female talent in the industry.

On March 8, 2025, International Women’s Day was celebrated. During this event, a reception was held at both the corporate offices and some plants, along with a brainstorming session to promote the advancement of women within the company.

9. Employee Engagement and Well-being

At GRI, we work to create a healthy work environment and improve the quality of life for employees through measures such as more flexible vacation schedules and dates, intensive work weeks, facility improvements, and new options for sports activities.

9.1. Work Environment

To improve the development, performance, and lives of GRI professionals, it is essential to understand their opinions on various factors that, when analyzed collectively, provide an assessment of their satisfaction levels. To this end, we conduct the “Work Environment” survey biannually.

Taking our commitment to improving the employee experience throughout their time at GRI Renewable Industries a step further, in 2024 we launched a new edition of the Global Work Environment Survey—Employee Experience.

Based on the People Employee Journey Model, the survey focuses on analyzing the different stages employees experience at the company—from their first days to their departure—with an emphasis on the events and perceptions associated with each stage.

Now that the Global Climate Survey—Employee Experience has concluded, we can highlight the following data:

Participation was 73% of the company’s total workforce.
The total number of responses received was 2,661.
The experience satisfaction rate reached 77%, with more than half of the moments analyzed exceeding 80%.

Throughout 2025, we have worked on the design and implementation of Action Plans aimed at improving the employee experience not only globally but also by paying attention to the specific realities of each of the Group’s plants.

9.2. Initiatives for Employees and Their Families

To help improve the work environment and foster a sense of pride in belonging, GRI promotes various activities and initiatives for employees and their families.

Madrid HQ: “Day Without School.” In June, the 8th edition of “Day Without School” took place. During this event, children spend a day at our offices with activities designed to have fun, get to know where their parents work, and learn about their daily routines. On this occasion, the “Mini Olympics” were held at the Francisco Riberas Pampliega sports complex, where they participated in various sports activities, followed by the traditional medal ceremony.

HQ Madrid Summer Camps: “I Speak Code” + “Diversicamp”: Both initiatives were organized by GRI Renewable Industries and Gonvarri Industries and took place at the Francisco Riberas Pampliega sports complex. The “Diversicamp” initiative was designed for children ages 3 to 6, allowing the youngest participants to take part in workshops filled with fun and dynamic games, where they developed new skills and discovered essential values such as inclusion, empathy, tolerance, and patience. All activities were age-appropriate for preschoolers and led by specialized staff, with support from people with disabilities, in collaboration with the Juan XXIII Foundation.

During the same period, the “I Speak Code” camp was also held for children aged 7 to 14, designed to spark young people’s interest in the world of technology, robotics, and programming. Participants had the opportunity to attend engaging talks and take part in recreational and sports activities. Additionally, they were able to develop technological skills while having fun and learning in a safe and educational environment.

GRI USA: At our U.S. plant, “Family Day” was celebrated in July. On this day, employees’ families are invited to the plant to see firsthand the work their family member does. Additionally, lunch is provided for all families so they can enjoy some time together.

GRI South Africa celebrated “Nelson Mandela International Day,” honoring the memory of this important figure on his birthday. Additionally, employees contributed through donations to purchase food and basic necessities for people at risk of social exclusion.

Throughout 2025, GRI South Africa has continued to support the local community through the Socio-Economic Development (SED) program. Its goal is to support the local community in three social areas: education, sports, and social support.

Family Day was also celebrated, during which employees’ family members visited the factory to spend the entire day there, enjoying games, lunch, and time together.

10. Separation Process

For GRI, it is essential to treat employees who are leaving with the utmost respect and professionalism, as well as to ensure an orderly transition. When an employee voluntarily leaves, an exit interview is conducted to determine what the company can do to improve. In addition, an outplacement service is offered as a training program for employees who are leaving the company. Its objective is to support this group in their re-entry into the job market and includes various services (404-2).

In 2025, there were two retirements at the corporate offices, for which all corporate employees gathered to honor the new retirees while sharing a small lunch in their honor.

Health and Safety

Management Model

For GRI Renewable Industries, worker health and safety is a strategic factor and an obligation, always present in decision-making and in the development of work plans focused on the continuous improvement of safety and working conditions.

The goal is to integrate Health and Safety at all levels of the organization and establish a preventive culture based on collaboration, teamwork, strong commitment, and the participation of employees and stakeholders. Health and Safety are reinforced by senior management leadership and a management system that reflects the company’s unique characteristics and strengths, making it a key component of business development. For this reason, and as a global company, 100% of our factories have an Occupational Health and Safety Management System. Likewise, we operate under the umbrella of the Integrated Management System (IMS) based on the international ISO 45001 standard.

The company applies the ISO 45001 standard as a common framework for occupational health and safety management, covering both its own and external personnel, reinforcing the protection of individuals through the systematic identification of hazards, the assessment and control of risks, and the implementation of preventive measures aimed at reducing accidents and occupational illnesses.

91% of the plants are already certified in occupational health and safety management.

The company has set a goal of achieving 100% coverage of ISO 45001-certified factories by 2030, based on the scope of wholly-owned factories as of the end of 2025.

GRI Renewable Industries has always understood that observing safe behaviors is essential to protecting people’s lives and well-being. Under this premise, a decisive step was taken in 2025 when the Behavior-Based Safety (BBS) methodology was launched at the Seville plant, making it the Group’s first facility to adopt this approach. This project has enabled a more in-depth and structured approach to safety discussions, the identification of critical behaviors, and the integration of safe habits into each person’s daily routine. With this momentum, Seville has established itself as the pilot plant for advancing toward a more conscious, participatory, and present preventive culture in every production activity and in the individual development of those who are part of the organization.

At GRI Renewable Industries, we proactively manage all identified risks, promoting opportunities for improvement and implementing preventive and corrective measures to reduce both the likelihood and severity of any undesirable event.

Responsibilities and functions are integrated into the organizational structure, with the plants’ senior management bearing ultimate responsibility for compliance with standards, improving working conditions, adhering to regulations, and protecting the health and safety of everyone on-site.

At all plants, we have an organized structure within the Health and Safety Department, composed of technical specialists with formal training in the field. Additionally, on-site monitoring of risks associated with operations and workstations is carried out in a coordinated manner between this technical team, supervisors, and department heads, who act as direct managers of the staff and as key figures in daily preventive management within the plant.

The organization promotes and supports the well-being of all employees through various healthcare services, tailored to the different countries where we operate. Monitoring and control of workers’ health status is outsourced, although several plants have their own on-site medical services supported by centers authorized under local legislation. Updated medical protocols must be in place, and annual medical health examinations must be conducted in accordance with the protocols. Additionally, in some countries, employees have private health insurance (a social benefit), and the company implements various initiatives to raise awareness about health care (403-3).

Furthermore, GRI Renewable Industries has a data and information protection policy applicable to the entire group. This policy outlines the processing procedures to be applied based on prior classification and defines the controls to ensure that data is managed with the necessary security and prevents this information from being disclosed to unauthorized persons. Regarding medical information—including both check-ups and visits to healthcare services—it is managed directly by these services and is never disclosed to the company; therefore, it cannot be used or disclosed for other purposes.

IPRL: Occupational Health and Safety Management System

The IPRL, or Occupational Risk Prevention Index, is a proprietary Health and Safety standard implemented by GRI Renewable Industries since 2016. It is a tool that enables the evaluation of Health and Safety performance across all production plants using common criteria that account for the specific characteristics of different technologies and processes, as well as a best-practices framework based on continuous improvement.

The indicator’s result is the weighted average of up to 89 factors classified into three main categories: “Indices,” “Working Conditions,” and “Occupational Health and Safety Management,” providing comprehensive and objective information on each plant’s safety status.

Following each corporate audit, the consolidated index result is published. Additionally, as part of our commitment to continuous improvement, the plants conduct quarterly self-assessments that allow for systematic monitoring of their working conditions and the effectiveness of their management.

This information and the results are available to the entire organization through internal communication channels and the corporate intranet.

Currently, there are 4 production facilities rated as having “excellent performance” in Health and Safety.

*The chart does not include companies in China.

The comprehensive digitization of the Health and Safety area has allowed us to consolidate, into a single system, all information related to audits, statistics, incidents, and investigations from all the group’s plants. This digital management system, implemented and refined over the past few years, facilitates a much more agile, accurate, and benchmark-based analysis across plants, turning data into a strategic resource for preventive decision-making. Thanks to this capability, we can now identify patterns, anticipate risks, and prioritize actions more effectively. This transformation not only optimizes our processes: it elevates our safety culture toward a smarter, more connected model focused on protecting what matters most—the safety and well-being of people.

Monitoring indicators

At GRI Renewable Industries, we continuously monitor accident rates. These rates apply to both our own employees and contractors. The company maintains rigorous oversight of accidents occurring at its facilities, covering both in-house and external personnel.

The following is a summary of accidents resulting in and without lost time for both our own and external personnel over the last 3 years:

Accidents Resulting in Sick Leave

During the 2025 fiscal year, the number of accidents resulting in sick leave increased compared to the rates recorded in 2024; this trend was also observed in the previous year. The frequency rate shows the ratio of the number of sick leave cases divided by the total hours worked, expressed per million hours worked.

Lost-time accident rate:

Frequency rate: Lost-time accidents / hours worked per 1,000,000

In 2026, the target is set to reduce the frequency rate by 20% by 2030 compared to 2025, covering both in-house operations (financial control) and companies under operational control.

Accidents without lost time

Frequency rate: Non-lost-time accidents / hours worked per 1,000,000

In addition to accidents, GRI Renewable Industries investigates all incidents to identify the root cause and plan corrective actions to eliminate recurrence and prevent future accidents.

Risk analysis and occupational diseases

Each factory in the group conducts risk assessments that are periodically reviewed at both the plant and corporate levels. The main identified risks are listed and addressed globally to ensure comprehensive control, with specific mandatory protocols defined for this purpose, such as: the adaptation of specific work equipment within the production process or the implementation of ergonomic improvements in the process resulting from rigorous evaluations and specific studies.

In addition, specific ergonomic studies are conducted to improve working conditions for employees. No workers are exposed to high risk, as they have access to appropriate PPE and controls to minimize such risks.

The risk of occupational diseases is identified in assessments conducted by the Occupational Safety and Health Department and is managed through health surveillance, in which the corresponding protocols are defined and applied according to the risks to which workers are exposed (403-7).

(*) Formula: number of illnesses / number of hours worked by in-house staff * 200,000

(403-10).

Days lost due to accidents and other causes

During the reporting period, the Severity Rate was 0.21, representing an increase compared to the previous period (0.17). This value is the ratio of the number of workdays lost due to accidents to the number of accidents, expressed per thousand hours worked.

Days lost due to accidents:

Severity rate: number of days lost due to accidents / hours worked × 1000

Days lost due to other causes:

*No. of days lost due to other causes / hours worked × 1,000

Statistical analyses of accidents reported by factories in 2025 provide a profile of typical accidents at the company, with accidents involving eye irritation from particles, sprains, and cuts accounting for the majority of incidents (403-9).

Fortunately, we have not had to report any fatal accidents or deaths resulting from occupational diseases.

Rate: Number of serious workplace injuries per 1,000,000 hours worked

Communication

One of the central pillars of the company’s global preventive activities was to strengthen communication regarding Health and Safety at all levels, both in offices and in factories, primarily to raise awareness about safe work practices.

Through the Be Safe! program, GRI Renewable Industries organizes specific awareness campaigns and issues communications regarding incidents and accidents to increase participation and dissemination among all employees on specific Health and Safety issues.

As in previous years, we have sought to further enhance this communication by utilizing the following channels: the Health and Safety section on the corporate website, content shared on the corporate intranet, and the expansion of digital communication channels and meetings on Teams.

In the factories, the “Health and Safety Committee” plays a fundamental role as an internal body representing all employees; it meets regularly to address relevant issues concerning safety and working conditions in the factories. Employee representation on the health and safety committees is 100%.

During the reporting period, the H&S Committees continued to be led by the Corporate Health & Safety Department, always with the attendance of senior management and the participation of H&S managers and supervisors from all the group’s plants. These meetings were held quarterly, and each one addressed topics such as: analysis of critical incidents and the importance of RCAs; IPRL results, improvements, and benchmarking between plants; continuous process improvement through technology; and a presentation on the BBS method and the importance of a safety culture based on positive reinforcement.

To raise awareness and prevent the recurrence of critical incidents, the Corporate Health & Safety Department continues to issue bulletins regarding critical accidents that have occurred at GRI plants, with the aim of promoting learning and the adoption of preventive measures.

In conjunction with the implementation of the BBS (Behavior-Based Safety) method, the Health and Safety Department developed a specific tool for reporting and recording unsafe conditions, with the goal of taking preventive action before these situations can lead to incidents.

This tool, promoted and developed by the Health & Safety Department, is expected to be progressively rolled out to all Group plants, in parallel with the safety leadership training program, thereby reinforcing a more robust and proactive safety culture.

GRI Renewable Industries celebrates “World Day for Safety and Health at Work” at all its facilities, as the safety and health of its employees and everyone in its offices and facilities is a priority.

Training and Awareness

GRI Renewable Industries provides all its employees with specific, high-quality training necessary to perform all their job duties safely and effectively.

Safety plays a central role in this training. The training is based on the findings of workplace risk assessments and on work procedures and instructions. The training is integrated with the communication of best preventive practices identified and implemented globally.

In 2025, training hours totaled 28,090, compared to 21,718 hours in the previous fiscal year. Of these, 25,720 hours were provided to in-house staff and 2,370 hours to external personnel.

In 2026, the company set a goal of providing at least 30,000 hours of health and safety training for its own staff by 2030.

This ensures that all workers and external employees have all the necessary information, instructions, sufficient training, and supervision to carry out their daily activities safely and efficiently.

The following is a summary of the distribution by country:

During the year, a Health and Safety Calendar was published that included, month by month, various Safety Minutes and Safety Talks aimed at reinforcing the organization’s safety culture.
Each month, essential topics were addressed, such as the proper use of PPE and the identification of exits and emergency routes, among other key elements to ensure a safe work environment.

This calendar became a preventive communication tool that promoted the continuous dissemination of safe habits among all employees.

Customers

2025 Outlook

For GRI Renewable Industries, maintaining a strategic relationship with our customers is key, and thus innovation in our products and services becomes a fundamental pillar of our operations. Throughout 2025, we have maintained our competitiveness by focusing on sustaining the efficiency of our plants.

GRI reaffirms its commitment to excellence and quality in all its operations, placing customer satisfaction as one of its top strategic priorities. The company strives to exceed its customers’ expectations through continuous improvement of processes and services, via proactive and transparent communication, which allows us to identify opportunities for improvement and strengthen customer loyalty, thereby ensuring lasting and trusting business relationships.

GRI Turkey: The two production centers in Turkey have maintained the expected production levels and operational quality. We have achieved one of our strategic objectives: the large-scale onshore tower certification project for our client Vestas, utilizing the capacity of the new factory, which can handle towers up to 6.4 meters in diameter. The strategic commercial relationship with Nordex has been maintained, with a steady pace of orders, in compliance with the 2025 Capacity Agreement. A new agreement for 2026 has also already been signed with this client.

GRI USA: Throughout 2025, a steady pace of orders has been maintained with the client GE Vernova, fulfilling the commitments set forth in the Capacity Agreement and strengthening the strategic partnership. In addition, new orders have been received from Vestas, which has a promising market pipeline for the medium term, opening up opportunities for future collaborations. This commercial momentum has helped strengthen GRI’s position in the U.S. market, enhancing the plant’s visibility and profile in the region.
GRI Argentina: Throughout 2025, the plant has maintained a strong production pace with a diversified customer base: stable production has continued for our new Chinese client Goldwind, a strategic partner for its entry into the South American market. Likewise, towers have been produced for Nordex, and a steady flow of orders continues with Vestas, which will have a project in production for part of 2026.

GRI Galicia: Throughout 2025, we have maintained a strong relationship with our client Vestas, sustaining the Production Agreement at a level exceeding 800 sections. Additionally, we have begun consolidating the New Products Division with an order for navigation sails.

GRI Seville: The plant has seen a notable improvement in its quality standards during 2025. Seville continues to manufacture for Siemens Gamesa and Vestas, and a major order for 2026 from GE Vernova has been confirmed, reinforcing key customers’ confidence in our production capacity.

GRI South Africa: Production levels remained stable throughout 2025 for our client Vestas.

GRI India I and II: Two new customers, Torrent Power and UPC, have been secured, initiating a business relationship with orders for both plants. Additionally, strategic cooperation with Envision, Serentica, Hero Future, and Siemens Gamesa continues in this market, consolidating GRI’s presence in India and reinforcing its growth in the region.

Negotiations for a long-term contract with a strategic partner have been successfully concluded, enabling us to plan and schedule the opening of a new GRI India III plant for early 2027.

GRI Baltic Towers: In the second quarter of the year, the new plant was inaugurated, boosting the manufacturing of offshore towers in Europe with a state-of-the-art facility. The agreement with Vestas for the manufacture of offshore towers in Poland has been maintained, and an order has been secured with Siemens Gamesa for production in 2026.

Additionally, we are maintaining a steady pace of orders with a Western OEM to supply onshore towers from Poland, for which we are collaborating with a local factory.

Customer Satisfaction:

GRI Renewable Industries reaffirms its commitment to quality in all its operations, placing customer satisfaction among its strategic priorities. The company is dedicated to continuously monitoring and improving customer satisfaction and loyalty through constant communication and the collection of feedback.

We measure quality and satisfaction in relation to our customers through the Customer Satisfaction Index, which is crucial for monitoring our operational quality and strengthening customer loyalty.

In 2025, GRI Renewable Industries achieved:

The company applies the ISO 9001 standard as the common foundation for its quality management system and customer focus. This framework enables the standardization of processes, ensures operational consistency across different units, and strengthens traceability and control of key activities, contributing to consistent service delivery aligned with customer requirements across diverse organizational environments. 100% of the factories operate under a certified quality system.

Innovation

Innovation is key to integrating sustainability into meeting our customers’ demands. The company has two centers dedicated to innovation: GRI Towers Turkey and the University Innovation Center of Andalusia, Alentejo, and Algarve (ciu3a) (Seville, Spain). The R&D&I team consists of 45 professionals based in Spain, Turkey, and India.

At GRI Renewable Industries, 2025 has been a year of significant progress in innovation, in line with our commitment to continuous improvement. We have achieved important benefits, particularly in reducing the consumption of raw materials and natural resources, and in decreasing waste generation, emissions, and discharges. Our environmental impact remains a priority.

GRI participates in several R&D&I projects funded by various public entities that promote technological advancement in the industrial value chain:

RISS Project: Launched in 2024 and running through 2026 with support from the Regional Government of Galicia, this project aims to develop a new manufacturing route for smart, safe, and sustainable wind turbine superstructures, developed in collaboration with the Galician companies GRI TOWERS GALICIA, DALP INGENIERÍA Y AUTOMATIZACIÓN, and TECFILTER. The main objective of the project is to achieve a complete industrial transformation of the sector, focused on new sustainable models for surface treatment and welding, smart industrial safety solutions using emerging technologies such as AI, computer vision, or ultrawideband, as well as the development of digital platforms that integrate Industry 4.0 enabling technologies. The project is currently in its final phase, with completion expected in the third quarter of 2026, having met the 2025 milestones as planned.

It is worth noting that in 2025, the following R&D projects were successfully completed in accordance with their objectives:

ZDZW Project: Launched in 2022 with support from the European Commission, it aims to develop digital non-destructive inspection services for efficient, waste-free manufacturing. It involves 27 partners from 10 countries, including GRI Towers Galicia and GRI Renewable Industries, focusing on reducing defects in welding and painting. Scheduled to conclude in 2025, it covers the entire value chain and has its own website: https://www.zdzw-project.eu/

By 2025, the implementation of use cases or pilots for the developed technologies will be completed, with pilots associated with the smart manufacturing and inspection of wind towers at GRI Towers Galicia.

NEXTWIND Project: Funded by the CDTI, it seeks new structural solutions and calculation methodologies for wind towers. It is based on research into new materials, post-processing treatments, and AI-based calculation methodologies, with the aim of improving structural efficiency and reducing costs and _CO₂ The project was successfully completed in mid-2025, achieving all proposed objectives.

SELFBALANCE Project: Also funded by the CDTI, this project, launched in 2022, is developing a self-balancing industrial welding robot to improve the manufacturing of offshore metal superstructures. Set to conclude in the first quarter of 2025, the project has resulted in a valuable asset for the company with very promising results.

NEXTFLANGE Project: FIHI FORGING INDUSTRY, in collaboration with Azterlan and Tecnalia—two of the most prominent centers in the sector—seeks to develop a new generation of offshore wind flanges. It began in 2022 and concluded in February 2025, opening new avenues of research and collaboration to advance offshore wind flanges.

ADVANCEINT Project: Co-funded by CDTI Innovation and the ERDF, this project focuses on developing advanced solutions for internal structural components of wind turbine superstructures, addressing new materials, manufacturing processes, and design methodologies. The project concluded as planned in mid-2025, successfully achieving all its objectives and generating significant progress in materials development for the company. In February 2026, CDTI Innovation staff will visit the site, where project leaders will showcase the achievements made.

FLOATWIND Project: Led by GRI Renewable Industries and funded by the Ministry of Industry, Trade, and Tourism, this project focuses on researching new design and manufacturing solutions for floating offshore wind superstructures based on the introduction of new materials, welding technologies, surface treatments, smart inspection, and digitalization—all of which are currently unavailable in the sector. It is part of the INNCODIS project by NAVANTIA S.A., S.M.E., with a budget exceeding 2.5 million euros, and focuses on aspects such as surface treatments and welding. Set to conclude in December 2025, this ambitious initiative by GRI Renewable Industries has yielded numerous positive results and solutions, as well as new R&D lines within the company.

INARI Project: Launched in 2022 and supported by RED.ES, it focuses on researching artificial intelligence models to predict manufacturing costs for complex wind turbine components. It uses machine learning and big data to model massive datasets. The intelligent prediction model was completed in 2024, although its group-wide implementation continues in 2025, with expanded functionalities and integration into other operational areas.

In addition to the ongoing projects, new lines of development for the coming years were defined in 2025, pending approval by the administration:

Interconnects Step Iawind: Research into disruptive solutions that combine artificial intelligence, computational algorithms, robotics, and advanced inspection systems to create a new intelligent digital pathway for the design and manufacture of wind towers. This project has a duration of 3 years and involves collaboration with two technology SMEs: DALP (DALP Engineering and Automation) and IOVI (INTELLIGENT VISION).
Soliawind: AI solutions and multimodal perception systems for wind turbine superstructures. This is an international project involving GRI Turkey, Siemens Turkey, and GRI R6D Engineering, with a duration of 3 years and a budget of over 2 million euros.

Red.es HIADA4WIND: AI Tool for the Digitalization of Area 4 (Surface Treatment) in Wind Tower Manufacturing

This is an individual project managed by GR R&D Engineering, focused on the digitalization and application of AI to the key surface treatment process.

The proposal aligns with the company’s digital transformation strategy, industrial sustainability goals, and international trends in cognitive manufacturing. Its validation in a real-world setting on wind tower products will enable the short-term consolidation of a replicable, scalable, and transferable model to other production lines and industrial sectors, positioning the company as a leader in the application of AI to advanced manufacturing processes.

https://www.zdzw-project.eu/

Supply Chain

At GRI Renewable Industries, we recognize our suppliers as an essential asset in our value chain. In 2025, we reinforced this vision by implementing the Supplier Code of Conduct, which requires our partners to meet high standards in multiple areas, including regulatory compliance, health and safety, human rights, trade sanctions, anti-corruption, and environmental protection. This Code, grounded in human rights, the Sustainable Development Goals, and the standards of the International Labour Organization (ILO), is crucial both for selecting new suppliers and for maintaining and retaining current ones. Additionally, an Ethics Hotline has been established to report any violations.

Since 2024, our corporate strategy has focused on developing local supply chains, thereby strengthening the industry in the areas surrounding our plants. This approach reduces both transportation and supply risks, and facilitates the integration of new technologies to improve tracking and optimize process monitoring and control. We have completed the supplier certification process regarding sustainability and established internal KPIs to assess the percentage of suppliers that meet these sustainability requirements across various areas.

GRI structures its sustainable procurement model through a corporate Strategic Procurement process and a formal ESG supplier assessment system integrated into the qualification process, reinforcing due diligence in the supply chain from the qualification and contracting stages. This framework combines traceability, internal controls, and a risk-based approach, with prior certification of 100% of suppliers through differentiated ESG questionnaires in Fullstep and requirements regarding the environment, health and safety, business ethics and anti-corruption, human rights, child labor, forced labor, and human trafficking—all supported by documented evidence.

The model is complemented by periodic performance monitoring, KPIs, and progress targets, covering priority areas such as sustainable procurement, climate change, the circular economy, Scope 1, 2, and 3 emissions, carbon footprint, recycled materials, reporting channels, and audits. In the event of non-compliance or deviations, GRI implements corrective and remedial measures, including non-conformity management, formal complaints, rejection of non-compliant documentation or materials, and, where appropriate, contractual penalties, thereby consolidating a supplier management approach based on risk, compliance, and continuous improvement

Procurement

A large portion of GRI Renewable Industries’ purchases are project-specific, making procurement the first link in the chain. Its primary function is to ensure that suppliers meet their obligations in a timely and proper manner. Therefore, it focuses on proper project planning, including on-time delivery, cost monitoring, and the use of the latest technologies to optimize overall supply chain management.

For each project, continuous and fluid communication is established, and risks are managed until the material is received at each plant. To meet these requirements, regular meetings are held with suppliers, and project tracking templates are shared to facilitate the identification of potential risks and minimize them to reduce their impact.

In 2025, we began developing a new technological tool in collaboration with IT to enable shared, transparent, and continuous project tracking. Additionally, this technology has been integrated with logistics to jointly monitor progress and optimize high-emission transport routes, as well as to track compliance with quality agreements with suppliers.

In this context, in 2026, GRI Renewable Industries set a goal that, by 2030, 100% of suppliers and intermediaries classified as high-risk (key suppliers) would have been assessed through due diligence processes covering the environment, health and safety, business ethics, anti-corruption, human rights, and child labor, forced labor, and human trafficking, with documented evidence.

The company integrates the monitoring of ISO certifications into its sustainable procurement process as an essential tool for due diligence and ESG risk mitigation. The level of certification in environmental management systems (ISO 14001), occupational health and safety (ISO 45001), and quality (ISO 9001) is used to assess supplier maturity, segment the supply chain, and prioritize development actions. This data helps strengthen traceability, reduce operational risks, and ensure alignment with internationally recognized standards.

In the steel sector, we have key suppliers considered critical due to their importance in our value chain. They have a certification level well above average, indicating a high level of maturity in environmental, safety, and quality management. This performance directly contributes to mitigating ESG risks, complying with international standards, and strengthening the resilience of a key segment for the company.

Direct Purchases

All these purchases are strategic and, therefore, managed from the corporate headquarters in Madrid. At GRI Renewable Industries, we only work with suppliers who have been thoroughly vetted in the market and who provide added value.

Across all business lines, there is a wide range of product families. Steel, in terms of volume and cost, is the primary raw material. Purchases are made primarily directly from steel mills and, to a lesser extent, through traders, adapting to customer demands. By 2025, it is estimated that GRI Renewable Industries will have worked with a total of 31 steel suppliers (sheet metal, flanges, rims, and blooms).

Relationships with steel suppliers are contractual and are mostly medium- and long-term, to ensure and meet the most demanding needs of the supply chains.

As steel processors, we are very proud of the strategic relationships that bind us to other steel suppliers, dedicating significant efforts to ensuring these relationships are long-term and provide a competitive advantage for both parties.

The direct purchasing department has launched various projects aimed at advancing a more efficient and sustainable supply chain:

Memorandums of Understanding (MoUs) with steelmakers to adapt to sustainability requirements and guarantee options for our customers.
Development of a more efficient budgeting tool (RFQ) through the creation of INARI as our proprietary quoting tool.
Establishment of a Service Center in India to comprehensively manage all purchase orders for all GRI plants.
Development of local supply chains to boost the local economy, reduce transportation, and minimize procurement risks.

Indirect Purchasing

This includes purchases related to investments, supplies, and services. The selection process is based on criteria such as service quality, technical expertise, market position, competitive advantage, and risk prevention.

Purchases are made primarily from Tier 1 and Tier 2 suppliers, wholesalers (machinery integrators), service providers, and manufacturers of other raw materials.

Depending on the nature of the purchase—particularly in terms of synergies and their recurrence on a global scale—these purchases are managed either by corporate headquarters or by local plants. That said, they are always monitored to ensure they are carried out in accordance with the group’s procedures and standards, and to identify new synergies and/or opportunities for improvement.

The number of suppliers varies; by the end of 2025, a total of 53 new indirect suppliers are estimated to be registered in Fullstep, notably including transportation providers and external service providers (calibration laboratories, welding test specimens, etc.). Relationships with non-steel suppliers are mostly based on medium- and long-term contracts.

In the area of indirect procurement, the following milestones are worth noting:

We have held workshops with global suppliers (handling equipment and welding consumables) to reduce emissions.
We have focused on managing the company’s growth through strategic agreements with our investment suppliers.
Audit and monitoring projects have been carried out at the plants to ensure a transparent, effective, and sustainable procurement model.

The percentage of purchases from local suppliers in 2025 was 56%.

The company’s average payment period falls within the legal limits established by Law 3/2004 of December 29, as amended by Law 5/2010 of July 5, and whose calculation methodology was developed in the ICAC Resolution of January 29, 2016. During the 2025 fiscal year, the average payment period for Spanish companies was 54 days (50 days in 2024).

Quality

At GRI Renewable Industries, the monitoring and evaluation of our suppliers is a task that involves both the corporation and each of our factories. The “Quality” department plays a crucial role in this process, overseeing supplier certification and auditing, complaint management, and the implementation of corrective and preventive actions. These actions are essential to ensure that both products and suppliers meet the Group’s rigorous standards.

For approval, it is an essential requirement that 100% of suppliers complete a detailed questionnaire regarding information and evidence. This process ensures the selection of the most outstanding suppliers in the market, covering key aspects such as sustainability, human rights, ethics, compliance, availability of certifications, and environmental, quality, and occupational health and safety data, among others.

Additionally, in accordance with our “Supplier Control” procedure, specific audits are conducted for suppliers of materials considered critical. These audits verify compliance with the required standards, complemented by APQP4Wind controls and product-focused “First Piece Qualification” (FPQ) inspections.

The final supplier assessment integrates and weights all these requirements, establishing specific measures based on the results and the classification obtained. We have adapted this assessment to include suppliers’ progress in reducing emissions, ensuring they align with our strategic goal of becoming “Carbon Neutral.”

For suppliers with lower scores, we define action and improvement plans, with periodic follow-ups, aiming to elevate them to the “good” or “excellent” performance categories. As a control mechanism, we conduct continuous evaluations of all approved suppliers on a semi-annual basis.

In 2025, 84.26% of suppliers received an A or B rating on a scale from A to E, representing a low-risk level. The remaining suppliers, classified as “medium risk,” are required to submit action plans to improve their classification to “reliable.”

Audits and inspections are repeated in cases of incidents, the introduction of new products, changes in processes, or any other circumstance that warrants it. In 2025, 27 audits were conducted.

In 2025, in the area of Supplier Quality Assurance (SQA), we implemented an additional communication channel with suppliers to share raw material quality certificates and other documentation regarding the materials supplied. We also included environmental, social, and governance (ESG) clauses in procurement communications and contracts.

To mitigate sustainability risks in our supply chain, we have introduced clauses related to environmental commitment, social commitment, and governance in our supplier contracts.

Furthermore, to assess these risks, our supplier audits take ESG criteria into account when determining a final score.

Logistics

This focuses on reducing transportation costs (for both purchased goods and the final product); improving service and creating a competitive advantage over other competitors in the sector. Additionally, it centralizes all information regarding tariffs and taxes associated with the movement of goods, which is becoming increasingly relevant.

The most notable milestones for 2025 include:

Granting by the General Directorate of Customs to the GRI Seville plant of authorization for the special inward processing regime (RPA). This regime will increase GRI Seville’s competitiveness in current and future projects by eliminating tariffs on any non-EU materials when the finished towers are exported outside the EU.
Granting of free trade zone status to GRI Sevilla, with the corresponding customs benefits.
Annual agreements at the GRI Turkey and GRI India plants to optimize local transportation and increase cost competitiveness.

Community

Management Approach Applied to Local Communities

How we identify our impacts on local communities / dialogue / impact management / monitoring. Actions.

At GRI Renewable Industries, we understand that our relationship with the communities where we operate is an essential part of our identity. Our commitment goes beyond meeting external expectations: we seek to deliver real, measurable, and sustainable social value over time. This vision translates into a structured approach, based on active listening, rigorous analysis, and close collaboration with our employees and local stakeholders, to ensure that every project addresses real needs and generates a tangible positive impact.

Our management approach: listen, understand, and transform

Social impact management begins with a fundamental principle: genuine listening. For GRI Renewable Industries, understanding the reality of our employees and the communities around us is essential to driving meaningful change. Therefore, each workplace conducts local assessments, facilitates dialogue, holds meetings with local social organizations, and implements active listening mechanisms to identify real needs and assess social risks.

Dialogue and participation

Our model is based on participatory governance. The factories, as units connected to their local context, lead the implementation of initiatives in coordination with the Corporate Social Action Department.

This approach ensures that each project is the result of a mature relationship with the local community: a relationship based on trust, shared responsibility, and a common commitment to building well-being. We aspire to be a neighbor who cares, contributes, and belongs—and an ally in community development.

Professional impact management: projects that generate real change

Our initiatives are designed in a structured manner, with clear objectives, a defined methodology, allocated resources, and monitoring criteria that allow us to evaluate their scope and results.

Each action is grounded in four strategic pillars:

Inclusion
Community and Sustainable Development
Health and Well-being
Environmental and Social Awareness

This project-based approach ensures that the capital invested translates into a verifiable, traceable social benefit aligned with corporate strategy, thereby guaranteeing the efficiency and real impact of our actions.

Monitoring, Evaluation, and Continuous Learning

Measurement is an essential part of our approach. To this end, we conduct regular monitoring of initiatives at each factory, analyzing their progress, the achievements made, and the improvement needs that arise

Evaluation not only helps us verify whether we are achieving our proposed objectives, but also allows us to learn from experience, adjust our actions, and continuously improve our ways of working. This process of constant review ensures that our actions evolve, adapt to changes in the environment, and maintain their social relevance over time.

Specific Topics:

The social contribution of our factories takes the form of specific projects that combine community participation, strategic partnerships, and actions aimed at generating visible change. Below are some of the projects carried out in 2025 that reflect this commitment and the impacts achieved.

GRI Towers India I & NGO SCHOOL

GRI Towers India I has launched a community development project in collaboration with NGO SCHOOL, with the aim of empowering employees’ families and local communities in the Kolhapur district. The initiative focuses on strengthening the personal and professional capacities of women, youth, and families, integrating training, health, and social development.

The project focuses on digital literacy, vocational training, and elder care, specifically targeting women in the community, while simultaneously supporting youth development through career guidance, life skills training, and the strengthening of family relationships.

This collaboration is an example of a strategic partnership aimed at improving well-being and development opportunities in rural areas, strengthening the ties between the factory and neighboring communities.

Social and Labor Inclusion – GRI Seville

GRI Sevilla is working on a social and labor inclusion program designed to facilitate the hiring of refugees, migrants, and vulnerable groups at risk of social exclusion. The project is carried out in partnership with three NGOs specializing in labor integration, which provide guidance, training, and support in adapting to the work environment.

Thanks to this collaboration, the plant has hired 33 people from various countries, including Burkina Faso, Mali, Senegal, Venezuela, and Colombia, thereby promoting a diverse workforce and a responsible hiring strategy aligned with the social needs of the region.

Through this initiative, GRI Sevilla helps create real opportunities for integration, job stability, and self-reliance for people seeking to rebuild their lives, reinforcing the company’s commitment to inclusion, diversity, and sustainable human development.

GRI Texas & Martha’s Home

In the United States, GRI Texas is carrying out a corporate volunteer project in collaboration with Martha’s Home, an organization dedicated to providing comprehensive support to single mothers in vulnerable situations. The initiative aims to strengthen the emotional, social, and daily well-being of these women and their children through the active engagement of factory employees.

The project combines direct support actions with activities aimed at improving the autonomy and quality of life of the families served by the NGO. Key areas of focus include assisting with daily tasks, organizing educational and recreational activities for the children, and conducting employability and career guidance workshops for the mothers. These interventions help enhance skills and create a positive, supportive environment for participating families.

This project represents a significant contribution to community development in the local area, offering support to women in particularly vulnerable situations and promoting opportunities for personal and professional growth for them and their children.

Corporate Volunteering with the Juan XXIII Roncalli Foundation – Day at Puy du Fou

This year, the corporate volunteer program with the Juan XXIII Roncalli Foundation once again brought together a large number of employees and their families, establishing itself as one of the company’s most participatory initiatives. More than 160 volunteers joined forces to accompany the beneficiaries of the social organization on an inclusive day at the Puy du Fou theme park, creating an atmosphere of camaraderie, support, and shared fun.

During the activity, volunteers provided close companionship, emotional support, and personalized assistance, helping participants fully enjoy the experience in a safe and accessible environment. These outings are essential for promoting the social inclusion of people with disabilities, as they help strengthen their autonomy, self-esteem, and sense of belonging, while raising employee awareness about diversity and the importance of support.

The collaboration with the Juan XXIII Roncalli Foundation reflects GRI Renewables Industries’ commitment to initiatives that combine active employee participation, stable partnerships with social organizations, and transformative experiences for everyone involved.

DIVERSICAMP—Inclusive Camp

In 2025, Diversicamp was launched—an inclusive camp developed in partnership with the Juan XXIII Roncalli Foundation, aimed at employees’ children aged 3 to 7. The program had 40 participants. Additionally, several scholarships were awarded to enable children supported by the Juan XXIII Foundation to participate, thereby reinforcing the project’s inclusive approach

For two weeks, the children participated in workshops and games organized into six themed worlds designed to foster values such as diversity, inclusion, respect, and empathy. The activities were led by specialized staff and supported by people with disabilities.

The initiative contributed to work-life balance and raised awareness about disability from an early age.

In 2025, the company has reinforced this approach through a consolidated portfolio of social initiatives that combine community participation, strategic partnerships, and corporate volunteering. At the corporate level, seven projects with a positive social impact have been promoted, developed in collaboration with seven social partners and making an impact in different countries. The total investment allocated to these initiatives was 446,000 euros, reflecting our commitment to generating a measurable, sustainable impact aligned with the real needs of the communities where we operate.

LQDVI (since 2014): Support was provided for five in-person national conferences in A Coruña, Palma de Mallorca, Bilbao, Barcelona, and Madrid.
AESLEME (since 2013): We continued the Emotional Driving project, which aims to bring about behavioral and cultural change in school road safety, focused on establishing safe mobility habits and social norms among students in schools and educational centers in Madrid and Castile and León.
World Central Kitchen (since 2013): We supported its food response efforts in emergencies and humanitarian crises, ensuring access to safe and nutritious food for affected people, prioritizing regions where the company’s factories are located.
Juan XXIII Roncalli Foundation: A corporate volunteer day was organized in collaboration with the foundation’s sports and leisure club and its inclusive camp, Diversicamp, for employees’ children and children supported by the foundation.
Real Madrid Foundation: The collaboration was structured around two complementary initiatives: first, a road safety awareness program through sports that integrates values and content on safe mobility into inclusive soccer and basketball activities aimed at children and people with disabilities; and second, a social inclusion and child protection program to promote the holistic development of vulnerable children in shelters.
SERES Foundation: We participated in integrating sustainability and social responsibility into the business community.
Princess of Girona Foundation: Support was provided for its programs to develop young talent and strengthen initiatives aimed at improving employability, training, and youth leadership, with a special focus on the Special Intervention Plan for Youth in Valencia, launched in response to the severe effects of the DANA.

GRI Texas & ONG Martha’s Home

GRI-India School

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Sustainability Endorsements

Sustainability commitments are formal pledges through which GRI Renewable Industries joins initiatives, associations, or collaborative frameworks aimed at promoting responsible practices in environmental, social, and governance matters. These commitments involve accepting principles, criteria, or guidelines that require implementing management improvements, reporting progress, and actively participating in sectoral or multisectoral dialogue forums. Their value lies in aligning corporate actions with growing expectations for transparency, rigor, and accountability, thereby strengthening the organization’s credibility with customers, stakeholders, government agencies, employees, the local community, and other interested parties.
In sectors such as ours, these commitments take on additional strategic importance. Companies in the sector face particularly demanding material challenges, such as reducing energy consumption and greenhouse gas emissions, improving efficiency in water use and treatment, mitigating air pollution, responsibly managing materials and waste, protecting employee health and safety, and preventing conduct associated with corruption. Participating in external initiatives focused on these areas allows companies to share knowledge, promote common standards, anticipate regulatory requirements, and accelerate their own transition toward more sustainable, safe, and transparent production models.
Thus, sustainability commitments are not merely a public demonstration of commitment, but a practical mechanism for structurally integrating sustainability into business management. They facilitate access to best practices, continuous improvement tools, governance approaches, and benchmark methodologies that strengthen the organization’s ability to respond to the risks and expectations of its environment, especially in a resource-intensive and regulated sector such as steelmaking. Their adoption therefore helps reinforce alignment between corporate strategy and ESG objectives, as well as demonstrate active participation in building a more responsible and resilient industrial ecosystem.

Below is a list of external organizations with which the company collaborates and to which it is formally affiliated within the framework of its ESG governance:

SERES Foundation: https://www.fundacionseres.org/Paginas/SobreSeres/PatronosJuridicos.aspx
Aladina Foundation: https://aladina.org/como-colaborar/
World Central Kitchen: https://wck.org/
Spanish Compliance Association (ASCOM): https://asociacioncompliance.es
AESLEME: https://www.aesleme.es/index.php/aesleme/colaboradores
Polo Positivo: https://polopositivo.es
Real Madrid Foundation: https://www.realmadrid.com/es-ES/fundacion/sobre-la-fundacion
LQDVI Foundation: https://www.loquedeverdadimporta.org/congreso-madrid/

All the organizations listed meet the most relevant sustainability criteria for our sector, including the reduction of energy consumption and greenhouse gas emissions, efficiency in water use and treatment, mitigation of air pollution, responsible management of materials, chemicals, and waste; working conditions, including the rejection of child labor, forced labor, and human trafficking, as well as discrimination and harassment; the protection of staff health and safety; and the prevention of corruption.

Furthermore, all of them meet the minimum requirements to be considered formal memberships, have formalized membership processes, do not limit membership to the mere payment of a fee, address one or more of the sustainability criteria relevant to GRI Renewable Industries, and require their members to effectively internalize the commitments they have undertaken.