TCFD Recommendation

• Describe the organizations processes for identifying and assessing climate related risks

NSG Group Approach

• The Group maintains a formal Enterprise Risk Management (ERM) process, managed by the Strategic Risk Committee (SRC) and based on ISO31000. The SRC defines the risk appetite and tolerance thresholds associated with the Group activities and undertakes a regular process to identify and assess the risks to the achievement of its strategy. Climate related risks are included within the risks identified and monitored by the SRC, and these are assessed using quantitative criteria across four vectors: financial impact; operational impact; compliance impact and reputation impact.

Further Disclosure / Information sources

CDP report 2023 C2.1 - 2.2

https://www.nsg.com/en/investors/management-policy-and-sustainability/risk-management

TCFD Recommendation

• Describe the organisations processes for managing climate related risks

NSG Group Approach

• Climate related risks are assessed and monitored by the SRC following the same criteria as other strategic risks. The SRC evaluates the controls and mitigations which address the risk and directs additional treatment measures to be implemented as necessary. A risk owner is defined who takes responsibility for monitoring and reporting the progress against the defined action plans to manage the risk within the Group's appetite. Individual controls and countermeasures are managed within the SBU's and Group Functions and operational reports are also made to the MC and SC.

Further Disclosure / Information sources

CDP report 2023 C2.1 - 2.2

TCFD Recommendation

• Describe how processes for identifying, assessing and managing climate related risks are integrated into the organizations overall risk management

NSG Group Approach

• Climate related risks are assessed and monitored by the SRC following the same process and criteria as other strategic risks. The identified risks and opportunities presented to the SRC are also presented to the MC on a regular (minimum six monthly) basis to ensure full integration of the overall risk management and business strategy.

Further Disclosure / Information sources

CDP report 2023 C2.1 - 2.2