Letter from the CEO

Dear Reader,

2025 has been a year in which we have continued to raise the bar in terms of operational discipline, process standardization, and our plants’ ability to respond quickly and effectively to our customers’ needs. In an increasingly demanding industrial environment, efficiency, traceability, and regulatory compliance are essential elements for ensuring the competitiveness of a global and diversified industrial group like ours.

Throughout the fiscal year, we have made progress in evolving our internal management systems, with the aim of scaling a well‑established industrial model in a reliable manner. This work allows us to strengthen consistency in audits, improve the reliability of operational and environmental information, and manage the growing complexity of our operations with greater robustness.

From an industrial perspective, 2025 was also a year of significant investment, with over €120 million allocated to industrial investments aimed at strengthening production capacity, efficiency, and operational reliability.

In the environmental sphere, we continue to make progress in integrating sustainability criteria into our industrial processes and in product transparency. One example is the publication of the GRI Environmental Product Declaration (EPD) for Iraeta Flanges, which reinforces our commitment to rigorously measuring environmental impact and supporting our customers in their own decarbonization goals.

Regarding the Carbon Neutral Plan, 2025 focused on strengthening measurement systems and conducting a technical analysis of our emissions as part of an internal review of the current approach. This work supports the evaluation of alternative methodologies that may better reflect industrial reality and the Group’s growth, in alignment with the regulatory framework and climate commitments..

Health and Safety remain an core pillar of the company. Throughout 2025, we have continued to strengthen our culture of prevention and made progress in standardizing safety practices across plants, convinced that responsible safety management is an essential condition for ensuring the continuity of operations and the well-being of our teams.

All this progress is possible thanks to the daily efforts of the people who are part of GRI Renewable Industries. Their ability to execute with precision, adapt to new requirements, and maintain high standards of quality and safety is a key differentiator for the company. To all of them, my recognition and gratitude.

Antonio Barbosa

CEO

GRI Renewable Industries