Materiality analysis

– the basis for a robust sustainability strategy

Our materiality analysis includes Bure's entire value chain and application of the dual materiality approach, where Bure's impact on sustainability and sustainability impact on Bure are considered (known as financial materiality). This analysis includes actual and potential effects, positive and negative, based on the sustainability areas included in the CSRD and ESRS:

• Climate change, resource use and circular economy, pollution, water and marine resources, biodiversity, and ecosystems.
• Own employees, employees, and workers in the value chain, as well as consumers and end- users.
• Affected communities, business ethics and conduct.

We have assessed our impact based on severity, which is determined by the degree and scope of the effects and the possibility of compensation. In contrast, potential impact has been assessed based on severity and probability. Human rights have been considered in all assessments. This analysis confirms that Bure's actual and potential effects mostly arise from the operations of Bure's portfolio companies.

Furthermore, we have dialogues with internal and external stakeholders such as board members, owners, CEOs, finance managers, and representatives from a selection of Bure's portfolio companies, which comprise roughly 80 per cent of Bure's net worth.

Based on the results of our impact analysis and the analysis of financial materiality combined with the compilation of our stakeholders' expectations of us, we have identified six priority areas for reporting.

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