Eleiko Group Sustainability Report 2024

Building A Stronger World

About the Report

The Sustainability Report 2024 for Eleiko Group AB describes our progress during 2024 and outlines our plans going forward. The report is based on the most material topics for Eleiko Group and the Ten Principles of the UN Global Compact. Eleiko Group’s subsidiaries are included in the report.

We are committed to sharing data in a transparent and accountable manner, with a focus on accuracy, completeness, comparability, and relevance. We use an external digital platform to collect data efficiently and track it accurately, ensuring that all information is managed and measured correctly.

What Sustainability Means to Eleiko

Sustainability is about fulfilling present needs without compromising the needs of future generations. It is about balancing economic growth, environmental care, and social well-being.

A sustainable company takes responsibility for its impact and is transparent about its actions and performance.

A sustainable product is built for durability, longevity, and circularity—designed to be used and passed down for generations.

A Stronger World

This is Eleiko

At Eleiko, we work to make people stronger, so they can perform better – in sports and in life. Since 1957, Eleiko has been a worldwide leader in international weightlifting, powerlifting and strength & conditioning communities. Eleiko is uniquely certified by the IWF, IPF and ParaPowerlifting federations. The products have been delivered to more than 180 countries over time and are often seen at the world’s largest championships and in the most respected strength training facilities. More than 1,000 world records have been set with an Eleiko barbell. With quality, innovation and customer service as guiding principles, Eleiko is the leading equipment provider and educator in strength.

Headquartered in Halmstad, Sweden, Eleiko Group and its subsidiaries have a global reach, with 198 employees, sales to more than 100 countries and a net sale of SEK 836 million.

836

Net Sales, SEKm

198 Employees

106 Countries Shipped To 6 International Sales Subsidiaries

A stronger world is one where people reach their full potential and live healthy, fulfilling lives. It is a world where we ensure access to the resources needed for physical, mental, and social well-being. By empowering and strengthening individuals, we help build a stronger, more resilient world.

Key Events of the Year

Joining Forces with Ovako to Pioneer Sustainable Strength Equipment

Eleiko and prominent steel manufacturer Ovako, announced the strengthening of our historic partnership. This collaboration is set to promote revolutionary low carbon footprint solutions in steel production and products.

Strengthening Leadership

Magnus Welander, former CEO of Thule Group, completes first full year as Chairman of the Board and Tina Brandt was appointed as new Chief Financial Officer (CFO), strengthening leadership as we embark on a new phase of investment and growth.

Eleiko Inc. received the prestigious SACC USA Business Award – an award instituted to promote and support the success of Swedish companies operating in the American market.

Paris 2024 Paralympic Games

Eleiko successfully delivered the equipment for the Para Powerlifting competitions at the 2024 Paralympic Games in Paris.

Eleiko Inc. Receives SACC USA Business Award 2024

Aligning Business Operations with CSRD

As part the preparations for the EU Corporate Sustainability Reporting Directive (CSRD) we conducted a Double Materiality Assessment (DMA), allowing us to focus our sustainability efforts on what matter the most.

Hosting Athletes at the IPF World Bench Press Championships

As the official equipment provider, Eleiko transformed its Austin HQ into an Athlete Village—the official training centre for the event.

The

opened to bring our innovative solutions closer to fitness professionals and strength enthusiasts across Europe.

Business & Human Rights Accelerator

To take further action, we participated in the Business & Human Rights Accelerator by the United Nations Global Compact on the topic of human rights and business.

Eleiko Opens Strength Hub in Germany

Eleiko Strength Hub in Hilden, Germany, was

2024 in Review

The world in 2024 has continued to be shaped by significant geopolitical events, economic uncertainty, and the pressing need for sustainability-driven transformation. Amid these challenges, organizations must remain committed to integrating sustainability into their core strategies. At Eleiko, we recognize our responsibility to contribute positively to both people’s well-being and the planet’s health. Our mission to build A Stronger World extends beyond strength training—it encompasses resilience, sustainability, and long-term impact.

One of the key steps in our sustainability journey this year has been our strategic partnership with Ovako, a leader in low-carbon steel production. This collaboration marks a significant milestone as we pioneer sustainable strength equipment by utilizing highquality recycled steel with an 80% lower carbon footprint than the global average. Ovako’s innovative hydrogen-based steel heating process further reduces emissions, reinforcing our commitment to minimizing our environmental impact while maintaining product excellence.

As part of our preparations for the Corporate Sustainability Reporting Directive (CSRD), we have conducted a Double Materiality Assessment (DMA). This assessment evaluates our environmental and social impacts from both an “impact materiality” and “financial materiality” perspective. By identifying the most critical sustainability factors affecting our business and stakeholders, we are ensuring a more comprehensive and structured approach to sustainability reporting and decision-making.

To enhance our sustainability management capabilities, we have invested in an improved reporting system. This new platform enables us to streamline sustainability reporting in alignment with the European Sustainability Reporting Standards (ESRS) and enhances our ability to monitor CO2 emissions effectively. In 2025, we will expand its functionality to include supplier assessments, reinforcing our commitment to responsible sourcing and supply chain transparency.

A crucial component of our climate strategy is understanding and reducing our emissions footprint. This year, we completed a full screening of our scope 3 emissions, providing greater insights into the environmental impact of our supply chain. This data will guide our future reduction initiatives and foster more sustainable supplier collaborations.

To strengthen our sustainability leadership, we have expanded our board with experienced professionals in the field. This strategic move ensures that sustainability remains a central pillar in our corporate governance and decision-making processes.

Additionally, to further drive our sustainability initiatives, we have recruited a dedicated Sustainability Coordinator, who will join Eleiko in January 2025 to support the execution of key projects and longterm goals.

Innovation and product longevity remain at the heart of our sustainability efforts. We continue to invest in product development that enhances durability and prioritizes sustainable sourcing. By designing products that last longer and optimizing material use, we reduce waste and lower our environmental footprint, aligning with our strategic priority of creating high-performance, sustainable strength training equipment.

In 2024, we also focused on strengthening our internal culture and employee engagement. Our employer net promoter score (eNPS) shifted from +42 in 2023 to +31 in 2024, a change influenced by a significant increase in participation levels from 60 % to 88 %. This improvement in participation provides a more solid foundation for future evaluations and reflects our commitment to fostering an open and engaged workplace. By encouraging more employees to share their perspectives, we have gained valuable insights that will guide our continuous efforts to enhance workplace satisfaction and company culture.

A growing concern globally is the increasing rates of obesity and sedentary lifestyles, which pose serious health risks to individuals and place a significant burden on healthcare systems. As more people become physically inactive, the importance of strength training as a tool for improving overall health and well-being becomes even more critical. At Eleiko, we are committed to playing an active role in reversing this trend by making strength training more accessible and inspiring more people to lead active lives. By developing innovative, high-quality equipment and advocating for the benefits of physical activity, we aim to empower individuals and communities to embrace strength training as a key part of a healthier future.

I am proud of the progress Eleiko has made in advancing our sustainability agenda over the past year. These achievements are the result of our team’s dedication and commitment to responsible business practices. As we move forward, we remain steadfast in our belief that collective action, innovation, and responsible leadership are the keys to a more sustainable future. Together, we can build a stronger, healthier world.

Erik Blomberg, CEO and Owner

Our mission to build A Stronger World extends beyond strength training—it encompasses resilience, sustainability, and long-term impact.

— Erik Blomberg, CEO and Owner

Set your bar high, be kind, and do more of what makes you stronger.

Who We Are

Strength is physical, mental, and communal. It builds bodies, sharpens minds, and nurtures growth. When we grow stronger, we become healthier and happier individuals who together can build a stronger world. With precision crafted equipment and strength expertise, we bring the ultimate lifting experience to a growing community of people who believe that being strong is essential to living life to the fullest.

Our Values

Our work is guided by three core values: performance, learning, and kindness.

• Pursue outstanding performance.

• Keep learning.

• Act with kindness.

Strength Philosophy

Strength is the foundation for better performance. In our philosophy, the best way to build strength is to focus on the major lifts using free weights and functional movements.

Weightlifting

Weightlifting is about high speed and maximal power in the two primary lifts: snatch and clean and jerk.

Powerlifting

Powerlifting is about maximal strength, typically at slower speeds, in the three primary lifts: bench press, squat, and deadlift.

Essential equipment includes bars and rubber bumper plates that can be dropped onto a lifting platform.

Essential equipment includes bars and metal plates, along with a squat stand and bench.

Hybrid Training

Hybrid training incorporates elements from various disciplines, including the major lifts from weightlifting and powerlifting and a variety of strength and conditioning movements.

A wide range of equipment is utilized, such as bars, dumbbells, kettlebells, racks, and rigs.

To Be the Number One Strength Company

Business Concept

We design and manufacture best-in-class strength products for competition and training settings with superior quality, durability, and performance. Our success depends on high expertise in strength training, product design, and manufacturing processes. Driven by a passion for innovation, we strive to be an industry leader, consistently pushing the boundaries of what is possible. We aim to establish ourselves as a responsible company known for its professionalism, trustworthiness, and commitment to delivering the right quality at the right time. Our range of equipment is complemented by educational resources and services, enabling us to tailor unique solutions for our customers.

Strategic Priorities

To become the Number One Strength Company, we focus on five strategic priorities.

1. Create best-in-class strength products

Design and manufacture best-in-class strength products, rooted in our expertise and passion for lifting. Deliver on our core promises of quality, performance, innovation, design, and sustainability.

2. Be the premium partner

Be the trusted and reliable strength partner to our customers by offering a premium customer experience through expertise, services, education, and strength content.

3. Build the strongest brand

Build a lifestyle brand in strength by truly connecting with the lifter. Establish Eleiko as the number one strength company for the world’s leading sport events, training facilities, and home gyms.

4. Attract and empower our people

Attract people with potential and passion for making people stronger. Empower people to perform, develop, and thrive professionally and personally. Keep the human being at the centre.

5. Be efficient and profitable

Deliver customer and business value through efficient and sustainable operations. Align robust processes and seek continuous improvements for industry leading quality.

Organic Growth, %

Financial Targets

Our financial targets are focused on achieving a sustainable growth of 20 % annually. A sustainable growth means that our growth is Strategic, Profitable, and Humane.

Strategic Growth in strategic product categories, geographic markets, segments, and channels.

Profitable

>10 % EBIT margin. In 2024 we achieved an EBIT margin of 9 %.

Humane

Improves and nurtures the long-term health and happiness of employees, customers, suppliers, athletes, and the environment.

The Eleiko Feeling

It started in 1957 with a dream of the perfect barbell. Back then, bars used to bend and break. Ours became the first to endure an entire weightlifting competition. Six decades of innovation and thousands of world records later, we still deliver products that help athletes push the boundaries of human potential through our focus on precision, quality, and safety.

Swedish Craftmanship

Eleiko is dedicated to being the industry leader with durable, high-performing products and delivering the ultimate lifting experience through designs with a lifter first perspective. Eleiko’s quality is achieved through carefully sourced materials, precision engineering, and Swedish manufacturing.

We focus on durability and sustainability, creating equipment that lasts a lifetime—benefiting lifters, operators, and the planet. Many of our core products are made in Sweden, either in-house or in partnership with trusted local suppliers. We prioritize European partners and actively expand local manufacturing and sourcing to enhance quality control, transparency, and sustainability.

Our competition products are externally audited by the international sports organizations that we have partnered with (IWF, IPF, and WPPO), ensuring that we deliver the quality we promise. Over the years, Eleiko has supplied to more than 50 Olympic- and Paralympic Games, Continental- and Regional Games, and over 500 World-, Continental-, and Regional Championships within weightlifting and powerlifting.

Carefully Considered. Thoroughly Tested.

Through rigorous design, testing, and manufacturing processes, we make safety a fundamental part of every product we create. Components are carefully considered and wear-tested, final products being subjected to a battery of tests to simulate varied lifting environments. Bars are bent, plates dropped, knobs

pulled, and pads pounded – all to ensure our products exceed the demands of the toughest training environments. Once launched, customer feedback informs our continual product improvement and development process. We stand behind our products with industryleading warranties.

A Team of Experts

To create best-in-class products, we depend on a team of experts with diverse knowledge and skills. From our talented product development team to our dedicated service professionals, we offer the expertise required to deliver the ultimate lifting experience. All our bars are manufactured in-house, and we are continuously expanding this range. With this forward-looking vision, we are actively exploring new opportunities to grow our product line and manufacturing capabilities. This has already come to use as we expanded in-house production with several products in 2024.

”The Eleiko Feeling is something frequently associated with our bars, but to me, it is bigger than that. It’s what we strive for in all our products and best achieved by keeping the user experience at the heart of everything we do.

— Erik Blomberg, CEO and Owner

Product Categories

Precision Crafted Strength

Our equipment range spans everything needed to bring strength and performance training concepts to life.

Sales Per Category

Free Weights—32%

Stationary Strength—50%

Tools & Gear—3%

Partner Brands—15%

Free Weights— 32%

This category includes barbells, weight plates, dumbbells, and kettlebells—essential equipment for strength training, weightlifting, and powerlifting.

Stationary Strength—50%

Eleiko’s collection of stationary strength equipment includes racks, rigs, cables, benches, platforms, and storage.

Tools & Gear—3%

This category covers a range of accessories that enhance training, including lifting belts, straps, knee wraps and sleeves, and wrist wraps. It also includes training tools such as plyo boxes, resistance bands, and mobility equipment.

Partner Brands—15%

This category includes carefully selected products from trusted brands that complement our own product range in the Nordics, including treadmills, strength machines, and flooring.

— Rune Selstad, Product Manager

”The growth of Stationary Strength is driven by the development Eleiko Prestera Strength System. We’ve transformed 60 years Olympic-level expertise into cutting-edge, modular system that sets the standard in strength training.

Strength of the System. of a system

Who We Serve

We serve lifters. For some, it is a profession. For others, a passion or a path to better performance and health. They discover lifting in different ways, but all aspire to grow, believing that strength is essential to achieve their goals. We serve people who value quality and performance, appreciate a high level of care, and are willing to invest in products that lasts a lifetime. We connect with them through a shared passion for strength, a drive to perform, and a desire for building strong relationships. Our main segments are Competition, Facility, and Home.

Competition

Certified by the International Weightlifting Federation (IWF), International Powerlifting Federation (IPF) and World Para Powerlifting Organization (WPPO), Eleiko equips the world’s most prestigious competitions and training facilities. Our complete competition range of equipment — including bars, plates, collars, platforms, racks, stands, benches, storage and accessories — is engineered to the highest standards and calibrated to within millimetres and milligrams.

Facility

Working together to realize our customers’ vision, Eleiko helps create facilities that deliver outstanding results for both the operator and lifter across a range of segments. From professional sports to the military, university athletics and campus recreation facilities, commercial gyms to corporate and residential wellness spaces—we design and equip them all.

Home

Home gyms are a growing market, challenging the industry for new solutions. A high-quality home gym saves time and encourages people to prioritize their health and well-being. Working with our product and facility design experts, customers create their dream gym or training space tailored to their home, garage, or backyard. Precision-crafted and built to last, our equipment transforms home gyms into versatile, space-efficient training environments.

The World of Eleiko

During the year, we experienced strong growth both in our established markets and in our new focus markets in the Middle East and Asia Pacific.

We have long been recognized for our exceptional bars, plates, and dumbbells - featuring innovative solutions that create an outstanding lifting experience with products that lasts decades. In recent years, our modular system of racks, rigs, and storage —Eleiko Prestera—has been well received in the market, allowing us to collaborate with customers in creating functional and attractive spaces for effective strength training. The launch of our cable machines has gained solid traction, with customers experiencing the Eleiko Feeling in new products.

” It is encouraging to see that we remain strong in our home market while successfully expanding into new regions. Our customers value the quality of our products, combined with Eleiko’s deep expertise in strength training. This makes us a trusted partner, ensuring they receive the right support throughout the entire process.

— Oskar Ragvald, Commercial Director

Distributors

In addition to our own sales channels, we work with selected distributors on a global scale that share our passion for strength training. Together, we create world-class facilities that offer the ultimate lifting experience.

Customer Satisfaction

We follow our customer satisfaction monthly to learn what we do well and what we can do better. Net Promoter Score (NPS) measures customer loyalty by asking how likely customers are to recommend a company on a scale from 0 to 10. The score ranges from -100 to +100, where higher scores indicate strong loyalty and customer devotion. With an NPS of +69, we are happy that our customers consider Eleiko a reliable partner – while still recognizing room for improvement.

Sales Per Region

In 2024 we delivered to 106 markets—making people stronger all over the world.

Long Lasting Partnerships

At Eleiko, we are committed to building long-lasting partnerships, sharing our expertise, and delivering outstanding service. As a family-owned company, we are deeply invested in the success of our customers and the broader strength community. Through our collaborations, we promote the principles of quality and sustainability in strength sports and beyond.

International Weightlifting Federation (IWF)

The International Weightlifting Federation (IWF) is the international governing body for the sport of weightlifting. Eleiko has partnered with the IWF since 1969, equipping, promoting, and growing the sport of weightlifting.

International Powerlifting Federation (IPF)

The International Powerlifting Federation (IPF) is the international governing body for the sport of powerlifting. With the support from its sporting partners and associates, the IPF aims to be the leading organization for athletes committed to drug-free, high-standard competition - advancing its athletes and the sport.

World Para Powerlifting (WPPO)

World Para Powerlifting (WPPO), under the governance of the International Paralympic Committee, acts as the international federation for the sport and represents the ultimate test of upper body strength competition. We are proud to support an organization that champions inclusivity and provides athletes with opportunities to excel in a highly competitive and inspiring sport.

The United Nations Global Compact

As a participant of the UN Global Compact since 2020, Eleiko commits to its ten principles on human rights, labour, the environment, and anti-corruption. We actively integrate these principles into our business practices and transparently report our progress annually, reinforcing our dedication to sustainability and ethical governance.

The Family Business Network (FBN)

The Family Business Network (FBN) connects family-owned businesses worldwide to support long-term success across generations. Through the Polaris framework and The FBN Pledge for a Sustainable Future, the network promotes responsible business leadership and sustainability. As a member, Eleiko aligns with these principles and benefits from shared insights and best practices within the community.

Active Sweden

Eleiko is a member of Active Sweden, Sweden’s industry organization for wellness companies. The organization works to strengthen industry standards, promote fair competition, and improve public health. Through our involvement, we support initiatives that encourage an active lifestyle and enhance the role of wellness in society.

ETH—National Training Centre for Weightlifting (Elitmiljö Tyngdlyftning Halmstad)

In partnership with the Swedish Weightlifting Federation and Halmstad University, Eleiko has developed an elite weightlifting training program that combines high-performance sport with academic studies. This initiative fosters Sweden’s top weightlifters while advancing the science and development of strength training.

ETH—National Training Centre for Weightlifting

(Elitmiljö Tyngdlyftning Halmstad)

Sustainability

Sustainability Framework

We work to positively impact our industry, communities, and customers by continuously monitoring and managing our impact on society and on the environment. To guide us, we follow a framework of four key pillars along with the ten principles of the UN Global Compact.

Designing Products for Performance and Longevity

Products must be safe, long-lasting, and built to perform — designed with the user experience in mind. For us, durability is sustainability. This principle guides our research and development, ensuring every product meets the highest standards.

Reducing Greenhouse Gas Emissions

Reducing our climate footprint is a responsibility we take seriously. The biggest opportunities for reduction lie in our material sourcing, production processes, and transportation. There is a lot of work to be done, but we are committed to the challenge.

Building Strong Communities

Health and sustainability go hand in hand — strong individuals and communities are essential for a sustainable future. Every year, we engage in local and global initiatives and contribute with financial support, putting our values into action.

Creating a Safe, Healthy, and Inspiring Workplace

We foster a supportive company culture where employees thrive. Transparency, respect, and well-being are key to attracting and keeping top talent — because a strong team builds A Stronger World.

Our sustainability framework aims to support the achievement of the following targets outlined in the United Nations Sustainable Development Goals:

Goal 3 - Good Health and Well Being

3.4 Reduce mortality from non-communicable diseases and promote mental health.

Goal 12 - Responsible Consumption and Production

12.2 Sustainable management and use of natural resources.

Goal 13 - Climate Action

13.2 Integrate climate change measures into policies and planning.

The United Nations Global Compact

The UN Global Compact is the largest corporate sustainability initiative in the world, with more than 20 000 participating companies in over 150 countries. Companies who join and support the UN Global Compact commit to working responsibly in alignment with ten principles around human rights, labor standards, the environment, and anti-corruption. They also commit to reporting their ongoing efforts annually.

A Just Transition is the UN Global Compact’s vision to ensure the move to net-zero emissions and climate resilience is orderly, inclusive, and just—leaving no one behind.

Human Rights

Principle 1: Businesses should support and respect the protection of internationally proclaimed human rights; and

Principle 2: make sure that they are not complicit in human rights abuses.

Labour

Principle 3: Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining;

Principle 4: the elimination of all forms of forced and compulsory labour;

Principle 5: the effective abolition of child labour; and

Principle 6: the elimination of discrimination in respect of employment and occupation.

Environment

Principle 7: Businesses should support a precautionary approach to environmental challenges;

Principle 8: undertake initiatives to promote greater environmental responsibility; and

Principle 9: encourage the development and diffusion of environmentally friendly technologies.

Anti-Corruption

Principle 10: Businesses should work against corruption in all its forms, including extortion and bribery.

”Eleiko has been an active participant in the UN Global Compact since 2020, and our Communication on Progress is publicly available on the UN Global Compacts website.

— Simone Rishede, Head of Sustainability

Activities and Targets

2024 Activities

Complete the UN Global Compact Business and Human Rights Accelerator Program.

Conduct a double materiality assessment.

Implementation of the ESRS disclosures and reporting processes.

Scope 3 screening to plan the necessary actions to get a complete baseline for our emissions.

Conduct lifecycle analyses of core products.

Pioneering Sustainable Strength Equipment Eleiko and Ovako have partnered to revolutionise low-carbon steel production for the sports and fitness industry. This collaboration is a major step toward reducing the climate impact of steel manufacturing while meeting the growing demand for sustainable solutions. Key objectives include:

• Delivering low-carbon strength equipment

• Enhancing transparency on environmental impact

• Scaling up sustainable steel production

”Steel is a key contributor to emissions in our industry and essential to our products. Strengthening our partnership with Ovako reinforces our commitment to low-carbon solutions, complementing our focus on design, innovation, and longlasting strength equipment—the core of our sustainability initiatives.

— Erik Blomberg, CEO and Owner

Plans for 2025

• Develop a sustainability strategy and targets based on the result of the double materiality assessment.

• Finalize implementation of the ESRS disclosures and reporting processes.

• Report the full scope 3 of our GHG emissions.

• Conduct lifecycle analyses of core products.

Operational Targets

Transportation*

By 2024, we will reduce the greenhouse gas emissions from transportation (in relation to tons of delivered goods) by 20% compared to 2020 numbers.

Electricity**

By 2024, we will reduce the amount of electricity consumed at Eleiko headquarters by 20% compared to 2020 numbers.

Waste

By 2024, we will reduce our amount of waste (in relation to tons of delivered goods) by 20% compared to 2020 numbers.

People

We will have zero workplace accidents, resulting in >8 h absenteeism, each year.

Notes

* Historically, we have only been able to use supplier-specific data from our main freight suppliers. Now, with improved data through extrapolation, the figure is higher. However, to maintain consistency in this KPI for 2024, we have only included supplier-specific data. This KPI and target will be revised during 2025.

** We recognize that reaching our 2024 electricity consumption goal at Eleiko HQ was a challenge and as we have expanded our in-house production our consumption of electricity has even increased. As we continue to expand our in-house production, investing in energy-efficient machinery and exploring new ways to cut energy use will be a priority. Currently, 100% of the electricity at Eleiko HQ comes from renewable sources..

Double Materiality Assessment

In 2024, we conducted a double materiality assessment (DMA) to align with the requirements set out by the Corporate Sustainability Reporting Directive (CSRD) and to ensure that we focus our efforts on what matter the most.

Our DMA is a strategic tool that gives us a comprehensive understanding of our impact and external influence. It is aligned with the guidelines related to the CSRD and the European Sustainability Reporting Standards (ESRS). Eleiko falls under the requirements of the CSRD in 2026 and further implementations of the ESRS are ongoing. Since the end of the 2024 reporting year, the EU has presented the Omnibus proposal. We are closely monitoring its development and any potential changes to our requirements.

Identifying Impacts, Risks, and Opportunities (IRO)

Our DMA evaluates actual and potential IROs from an insideout and outside-in perspective in our own operations and across the value chain. We followed a structured methodology and performed comprehensive value chain analyses as the foundation for identifying and scoring IROs.

We engaged stakeholders to identify and validate findings and based on their input we scored impacts based on severity (scale, scope, and remediability) and likelihood on a five-point scale. Financial risks were scored based on the size of the financial effect and likelihood on a five-point scale. The IROs were grouped in line with the topics of the ESRS, resulting in eight material topics.

The results of the DMA were first presented to the Management Team by the CSRD project group for validation and after their feedback it was presented to the Board. The DMA was approved by the Board in November 2024.

E1: Climate Change

E2: Pollution

E4: Biodiversity

E5: Circular Economy

S1: Own Workforce

S2: Workers in the Value Chain

S4: Consumers and End-Users

G1: Business Conduct

Notes * Pollution and biodiversity were new findings and are therefore not included in the 2024 report.

Greenhouse Gas Emissions

Managing climate impact is a responsibility we must take towards people and the planet we all share. We still have a long journey ahead, but we are determined to take on these challenges and push ourselves to reduce our greenhouse gas emissions.

In our carbon accounting, the emissions calculation methodology used is based on the Greenhouse Gas Protocol (GHG Protocol). 2024 is the fourth year we measure our GHG emissions according to the GHG Protocol. This year, we focused on adding more data and more categories as well as improving data quality. In 2024 we conducted a scope 3 screening with advisory from experts at Position Green, an ESG software firm. The screening has formed a plan for how we shall reach full reporting of our scope 3 emissions in 2025.

Scope 1

Scope 1 covers direct emissions from owned or controlled sources such as facilities and company vehicles.

Scope 2

Scope 2 covers indirect emissions from the generation of purchased electricity, steam, heating, and cooling consumed by the reporting company.

Scope 3

Scope 3 covers all other indirect emissions in a company’s value chain. We do not yet report on all scope 3 categories. The tables below show which categories are reported on fully or partly.

Data Quality

Primary data includes information provided from direct sources, such as suppliers or other value chain partners. This data may consist of activity data or emissions data calculated by suppliers based on their own activities.

Secondary data includes industry-average data, financial data, proxy data, and other generic data.

Primary—43%

Secondary—57%

We use Position Green’s ESG software and sustainability reporting tool to maximise data-driven insights.

Greenhouse Gas Emissions

Distribution of Emissions (Market-based)

Total Scope 1 & 2 (Location-based)

Category 6: Business travel

Category 7: Employee commuting

Category 11: Use of sold products

Category 12: End-of-life treatment of sold products

Total Scope 1 & 2 (Market-based) Total Scope 3

Notes

• Data in in scope 1 and 2 has been updated with more accurate data and reporting in location-based and market-based has been implemented.

• In Category 4 and 9: Upstream and downstream transportation we are now covering all emissions, including from Eleiko Inc. in the U.S.

• From 2024, Category 5: Waste generated in operations, also includes data from the warehouse in Austin, covering all operational facilities.

• Category 6: Business Travel only includes trips by air due to lack of data from other modes of transport.

• Data in Category 6: Business Travel and Category 5: Waste has been updated with more accurate data.

• Category 7: Employee Commuting includes emissions from employees working from home.

• Categories excluded due to not being relevant to Eleiko: 8 (upstream leased assets), 10 (processing of sold products), 13 (downstream leased assets), 14 (franchises), and 15 (investments).

Tonnes CO2e

Transportation

A significant part of our emissions comes from up- and downstream transportation, and as a global business, we need to be aware of this impact and how to minimize it. Transportation is, therefore, one of our most important environmental priorities. It is very clear that air freight is the biggest contributor to emissions in this category —representing less than 1 percent of the tonnage but nearly a third of the emissions.

Emissions from Air Freight

Circular Design Principles

We design products that last. Crafted from the finest materials and engineered for durability, our equipment delivers lasting performance. By prioritising quality and longevity, we support our customers while reducing environmental impact. We strive to select the most sustainable or innovative materials and prioritize local production. Additionally, we offer our support and expertise to ensure that the equipment is utilized in a manner that preserves both its quality and the well-being of the lifter in the long run.

Design Philosophy

Our goal is simple: design safe, durable, and high-performing products tailored to the user’s needs. By carefully selecting materials and refining designs, we minimise environmental impact while maximising product lifespan. The design phase plays a critical role in a product’s carbon footprint. That’s why we focus on longevity —ensuring our products retain both form and function over time. We design for durability, ease of maintenance, and minimal waste, creating equipment that performs for years.

We follow a clean, functional design ethos—every element has a purpose. By prioritising subtraction over addition, we remove anything unnecessary, ensuring our products remain refined and efficient. The Eleiko Prestera Strength System embodies this philosophy. A fully modular system, it eliminates excess, focusing only on what enhances performance, quality, and user experience. Designed for long-term use, it allows for easy disassembly and replacement of worn parts—extending the product lifecycle.

Design Principles for Sustainable Innovation

• We design safe, long-lasting, high-performing products that are good for the user and the environment.

• We focus on both the materials and the form of our products to minimize their environmental impact. We use recycled and recyclable materials whenever possible, and we design our products to be easily disassembled and recycled at the end of their life but above this, we ensure that our products live as long as possible.

• We also consider the aging of our products in the design process. We want our products to last for decades, and we believe that a minimalistic and timeless design language is essential for achieving this goal. Every detail in our designs has a purpose, and we strive to create products that are both functional and aesthetically pleasing.

• We believe that providing lasting solutions is a key factor in sustainable product design. We are constantly evaluating new materials, technologies, and trends to ensure that our products continue to improve and meet the needs of our customers. We are committed to developing products that are built to last a lifetime.

Eleiko Storage

Born from busy establishments facing space optimisation constraints and facility flow challenges, the introduction of the modular Eleiko Storage system addresses these challenges by offering unparalleled design flexibility. Eleiko Storage adeptly navigates floor plan limitations, maximises vertical space utilisation, and keeps free weights and training tools conveniently accessible for members.

Competition Collars—One Collar, Three Sports

The new collars enhance the lifting experience for athletes, loaders, and staff by providing a single, precision-crafted collar certified for both training and competition. They are easier to handle, minimise interference during lifts, and protect equipment from wear. Manufactured in Halmstad, Sweden, from machined recycled EU steel, the collars ensure precision and lasting performance, backed by an industry-leading 10-year warranty. The Eleiko Competition Collar is the first collar to receive certification from all three major strength sports federations: the International Weightlifting Federation (IWF), the International Powerlifting Federation (IPF), and World Para Powerlifting (WPPO).

Waste Management

Waste is reported monthly for our facilities by waste type. If data is not available, estimations by waste type and square meters are used. In 2024, 92 % of the waste data were based on actual data, while 8 % were estimated. The most relevant waste streams at our operational sites are metals, wood and cardboard & paper, as they exceed 80 % of the total waste.

*This metric is for our Halmstad operations at Eleiko HQ.

Work Environment and Culture

At Eleiko, our team is at the heart of everything we do. With members from around the world, our diverse team embodies our inclusive culture and shared values. We believe that kindness, respect, and a strong sense of humanism define who we are and guide how we work together.

People Philosophy

Our people philosophy is built on the belief that every individual matters. We strive to create a safe, supportive, and inspiring workplace where employees can grow both professionally and personally. It is through the dedication and expertise of our team that Eleiko continues to evolve and thrive. To attract and develop our people we follow two principles:

Principle 1 Attract people with potential and passion for making people stronger.

Principle 2 Empower people to perform, develop, and thrive professionally and personally.

Employee Satisfaction

Employee Net Promoter Score (eNPS) measures employee satisfaction and loyalty on a scale from -100 to +100. It is based on the question: “How likely are you to recommend your workplace to others?” A higher eNPS indicates a more engaged workforce. Our eNPS shifted from +42 in 2023 to +31 in 2024, a change influenced by a significant increase in participation levels from 60 % to 88 %. This improvement in participation provides a more solid foundation for future evaluations and reflects our commitment to fostering an open and engaged workplace. By encouraging more employees to share their perspectives, we have gained valuable insights that will guide our continuous efforts to enhance workplace satisfaction and company culture. Employer Net Promoter Score (eNPS)

Employee Satisfaction

Every day is a day of learning. At Eleiko, I collect new knowledge every day—in my profession, in sports, and in life

—

Nina Johansson, Customer Support Sweden

Work Environment and Culture

Diversity and Inclusion

We believe in equal opportunities for all individuals, and place a high value on diversity, recognizing the importance of a range of backgrounds, genders, and competencies across our teams. We maintain a strict zero-tolerance policy for discrimination or

harassment based on age, gender, gender identity, religion, sexual orientation, disability, political opinion, or ethnicity. Employees can report through an external whistleblower service if they experience or witness any incidents.

Story: The strong woman behind the world most famous barbell

To fund the unconventional idea of a waffle iron maker producing barbells, Eleiko’s managing director, Tyra Johansson, sought a loan. The bank refused her request, and as a woman, she wasn’t offered a seat at the bank office. Nevertheless, Tyra persisted and managed to secure a loan from another bank. The rest is history. Gender equality has come a long way since the 1950s, but injustice still exists. These are some actions we take at Eleiko to decrease them.

Product

We work actively with our products to ensure they appeal to both women and men; small but important details can have a significant impact.

Marketing

We work to make more people stronger and believe that strength is part of living life to the fullest. Strength does not belong to a particular gender. Strength is for everyone. We aim to use a balance of men and women in our imagery and video. We have a policy against sexism. In our imagery and marketing material, we focus on performance.

Eleiko as an Employer

We work actively for gender diversity across the company. We believe a company performs better with a mix of genders. We are not satisfied at 30% and we work continually to raise the bar and be a little better and more equal daily.

Employees by Legal Gender

Health and Safety

Occupational Health and Safety

Safety is a top priority in our own operations, and we aim for zero workplace accidents each year. In late 2023 we finalized the implementation of a web-based reporting system for workplace risk observations, incidents and injuries which marks 2024 our first full reporting year in the system. We continuously encourage our coworkers to report so that we can take action to mitigate risks and avoid incidents from happening again. We follow the rates of short- and long-term sick leave to work preventative and notice any negative trends in time.

Lost Time Injury (>8h absenteeism)

Total Number of Injuries

Short-Term (1-30 Days)

Long-Term (>30 Days)

Supply Chain

We are committed to a local supply chain strategy, actively moving production closer to our own operations and our customers. This approach fosters stronger collaboration with suppliers, enhances our understanding of the value chain, and ensures high environmental and social standards. Additionally, reducing long-distance freight helps lower our emissions of greenhouse gases. We have not reached our goal of 50 % production in Sweden quite yet, but we are closing in.

Production by Location

”Our engagement in the UN Global Compact’s accelerator program has strengthened our direction and responsibility in sustainability issues—for our business and for a more sustainable world.

— Christoffer Hasselström, Purchasing Manager

Supply Chain Due Diligence

Close collaboration with our suppliers is key to driving product innovation and ensuring environmentally and socially responsible production. Through our supplier review process, we gain valuable insights into our supply chain, allowing us to set clear requirements and standards for our partners.

Each year, we screen our key suppliers to verify their alignment with our values and standards, including their commitment to our Code of Conduct. This screening evaluates critical environmental, social, and governance (ESG) aspects such as waste management, fair wages, and anti-corruption policies. The results help us identify potential risks and opportunities for improvement, enabling us to support suppliers in making meaningful changes—whether by implementing a Code of Conduct or transitioning to renewable energy.

For suppliers operating in high-risk regions, we conduct in-depth Work Condition Assessments (WCA) through independent third-party audits. These assessments ensure compliance with local laws and safeguard human rights and

labour standards. Based on the findings, suppliers receive a corrective action plan with deadlines determined by the severity of the issues—categorized as minor, moderate, or major. If a supplier fails to address these actions within the required timeframe, we evaluate alternative sourcing options. However, our primary goal is to support suppliers in making improvements that benefit the environment, workers, and communities.

In 2024, we conducted two assessments, achieving an average score of 67 %. Through close collaboration, we aim to elevate supplier performance to meet or exceed country benchmarks, such as China’s national average of approximately 80 %.

Business & Human Rights Accelerator

To take further action, we participated in the Business & Human Rights Accelerator by the United Nations Global Compact on the topic of human rights and business. This expanded our knowledge of human rights and our impact on the value chain and enabled us to develop a due diligence process.

Community Engagement

Community Health

Research shows that regular physical activity, with both strength and cardio training, can reduce the risk of illness and premature death and positively affect our quality of life in many ways.

As awareness of the benefits of physical activity increases, more business- and property owners want to create the conditions for their people to be active in everyday life. In addition to equipment, we help our corporate- and real estate customers by educating employees and managers in the strategic advantages of health, and how they can introduce physical activity as a sustainable habit.

Eleiko Education

To complement our equipment, we provide resources and courses to ensure people get the ultimate lifting experience. Education is an important part of our mission of building a stronger world, as we spread knowledge of how to get stronger—and how to help others become their strongest selves. The strength of our courses lies in our unique, multifaceted approach. We integrate effective hands-on learning, expert instruction on technique, and lifting fundamentals with dynamic presentations led by highly experienced instructors from diverse backgrounds.

”We believe that a sustainable future begins with sustainable people, and we have a passion for helping people get stronger so they can perform better—both in their sports and in life.

— Simone Rishede, Head of Sustainability

Supporting Athletes to Perform at the Highest Level

IWF World Cup in Thailand

March 31–April 11

IWF World Youth Championships in Peru

May 22–26

IPF World Classic and Equipped Bench Press Championships in USA

May 21–June 1

The World Classic Powerlifting Championships in Lithuania

June 14–23

World Junior Powerlifting Championships in Malta

August 28–September 8

Paralympics in Paris

August 28–September 8

IPF World Masters Powerlifting Championships in South Africa

October 5–13

IWF World Junior Championships in Spain

September 19–27

World Equipped Powerlifting Championships in Iceland

November 10–16

IWF World Senior Championships in Bahrain

December 6–15

Community Highlight—IPF World Bench Press Championships in Austin

As the official equipment provider, Eleiko transformed its Austin HQ into an Athlete Village – the official training centre for the event. A place for training and preparation, relaxing and connecting, athletes enjoyed access to IPF Competition Powerlifting setups and best-in-class equipment to fine-tune competition preparation before taking to the world stage.

Building a Strong Company

Our sustainability efforts are ultimately the responsibility of the Board. The Head of Sustainability establishes long-term sustainability targets as part of the Group’s strategic goals together with the board and the management team and is accountable for coordinating and monitoring concrete matters. Regular dialogues, reports, annual reviews, and internal and external audits are used to oversee plans, activities, and progress on goals.

Family Ownership

Eleiko is fully owned by the family Blomberg who plays a key role in Eleiko’s expansion. CEO Erik Blomberg guides the company with the same principled leadership his father instilled — where humour, optimism, and kindness built the foundation for growth. Rickard Blomberg leads business development in the U.S, Hans Blomberg leads the tech development, and Madeleine Blomberg serves on the board.

ISO 14001 Certification

One tool we use to comply with current and upcoming legislation is the environmental management system ISO 14001:2015.The system ensures that we continuously implement improvements relating to the environment in our operations.

Anti-Corruption

We have a zero-tolerance corruption policy, and all our employees and suppliers are expected to follow our Code of Conduct. Employees or suppliers must never use or receive gifts, benefits, or other prohibited compensation in their dealings with customers, suppliers, authorities, or other decision-makers to secure or retain business.

Whistleblowing

We urge all employees and suppliers to report suspected breaches of applicable laws and regulations or the Eleiko Code of Conduct. All stakeholders, employees, and suppliers may report directly to a contact person at Eleiko or through the publicly available whistleblower service on eleiko.com. Eleiko does not tolerate discrimination, and there will be no negative consequences for persons reporting suspected breaches in good faith. No cases were reported in 2024.

Management and Steering Documents

We have several steering documents that assure that Eleiko is doing business in a sustainable way. These are the Code of Conduct, the Slavery and Human Trafficking Statement, the ESG Policy and the Work Environment & Equality Policy. You can find these at the end of the report.

Madeleine Blomberg Owner & Board Member

Gunnila Blomberg Owner

Rickard Blomberg Owner & Business Development

Erik Blomberg Owner & CEO

Hans Blomberg Owner & IT Development Manager

How We Manage Risks

The table below briefly describe Eleiko’s most significant risks that were identified in the double materiality assessment, along with their counteracting factors and management, to limit their potential impact on operations.

of Risk

General Environment Deficiencies in sustainability efforts

Gaining the trust of our stakeholders and the lifting community through honesty and transparency in our sustainability efforts is essential to maintaining a successful business.

Consequences of climate change in the supply chain

Severe weather events caused by climate change could cause disturbances in the supply chain. It may include flooding, typhoons, drought, fires, or other extreme weather conditions. This can have major effects on the suppliers and its workers which would in turn affect the suppliers’ ability to deliver.

Air pollution

Suppliers located in areas that are in risk of air pollution may be forced to close operations for certain times. This can affect the suppliers’ ability to deliver.

Increased energy consumption

Expanding in-house production will lead to increased energy consumption and costs.

Increased need for transportation

As our products are sold worldwide, the need for transportation will inevitably grow alongside Eleiko’s expansion.

Failing to reduce greenhouse gas emissions

Failing to reduce emissions can lead to risks of high costs and loss of market advantages.

Social Failing to provide a safe and healthy work environment

Failing to provide a safe work environment may lead to injuries and dissatisfaction for our employees.

Countering Factors and Management

• We pursue ambitious quality and sustainability initiatives across the organization.

• ESG data and targets are monitored and reported on a monthly-, quarterly-, and annual basis.

• Implement procedures to identify and manage these types of risks together with the supplier.

• Reduce our greenhouse gas emissions to lower our impact on climate change.

Inability to attract the right people Being able to recruit qualified personnel is vital to future operations.

• Evaluate the risks in known high-pollution areas and investigate Eleiko’s impact on air pollution and how it affects workers in our supply chain.

• Energy consumption is continuously measured on all facilities to ensure we have energy efficient processes.

• Air freight shall be avoided unless cases occur that might negatively impact the business, such as key customers and events.

• Optimize logistics flows and avoid part deliveries.

• Partner with freight suppliers that are committed to making the transport sector more sustainable.

• Eleiko works actively with the GHG-protocol to collect data on its CO2e emissions.

• Eleiko uses a reporting system (Position Green) to ensure that the data is managed correctly.

• Continuous improvement of safety instructions and routines, for example rules and safety equipment for employees and visitors.

• Use of a web-based system for reporting deviations such as accidents, incidents, and risk observations.

• Clear recruitment-, onboarding-, and offboarding process across the organization.

• Employer branding activities.

Description

Human rights violations

Eleiko is a part of global value chains, and in some countries, insights into the supply chain may be limited. This entails the risk that Eleiko involuntarily contributes to violations of human rights.

Accidents from using Eleiko equipment

An accident involving Eleiko’s equipment is one of our most significant risks, potentially leading to legal proceedings, substantial liability costs, reputational damage, and loss of stakeholder trust.

Governance Laws and regulations

ESG performance is of growing interest to stakeholders, and failure to comply with future laws and regulations could have significant consequences for the business.

Anti-corruption

As a global company, we run a risk of becoming involuntary involved in unethical business or corruption.

• Eleiko Group is an active member of the UN Global Compact and, therefore, commits to following the ten principles.

• Implementation of due diligence procedures.

• Eleiko screens suppliers on social topics. For suppliers considered high-risk, third-party audits are conducted.

• The Eleiko Code of Conduct apply to all stakeholders.

• Ensure to always deliver the highest quality.

• Efficient testing before launch of new products.

• Clear user-instructions.

• ISO 14001 certification require that we are informed on law updates and added regulations on environmental topics.

• Monitor the development of new legislations on the markets where we operate.

• Eleiko has a zero tolerance against corruption and all employees, suppliers, and other stakeholders are obligated to follow the Code of Conduct.

• The Code of Conduct is reviewed annually.

• Suppliers shall have a Code of Conduct in line with the ten principles of the UN Global Compact.

Description

Steering Documents

Stakeholders

Customers

As the global leader in barbell manufacturing – and with a vision of becoming the world’s number one strength company - we have earned a reputation for producing products with superior quality, performance and durability. Our customers expect no less from our business model and sustainability program. Globally there is an increased focus on environmentally friendly products. Our customers should feel confident we are supplying them with safe and superior products that support their initiatives and business goals while also minimizing their global footprint. Therefore, it is important that we show transparency in what we do.

End-Users

We work to develop and produce products that are of high quality, safe to use and optimized for performance to help our end-users achieve their goals. In addition, our end-users should know that we act in a responsible way towards the environment and that we want to have a positive social impact. Our sustainability initiatives should support this and make it easier for our end-users to make sustainable choices when it comes to strength training.

Co-Workers

Our employees should know that they work for a responsible and sustainable company. We care about the environment, safe working conditions, personal development opportunities, and gender equality. Eleiko should be directly engaged in activities that positively impact our world and leave it a better and stronger world for future generations. With clarity and transparency in these areas, we hope to attract talent and people that can contribute further to achieving our sustainability objectives.

Suppliers

As a supplier with a global supply chain, Eleiko has an opportunity and responsibility to raise the bar on what we demand from our suppliers. We will provide suppliers with clear specifications and product requirements in support of our sustainability goals and promote suppliers that can meet such requirements.

Federations: IWF, IPF and Para Powerlifting

Federations set the guidelines and specifications for many of our products. They impact how we produce in many respects, but also look to us for leadership in product development and to help shape future standards. Sustainability work is something we can build into future expectations and product specifications. As an industry leader with strong federation relationships, our company and our programs play a vital role in promoting and fostering goodwill towards the sports of weightlifting and powerlifting. Raising our standards for our products and processes through our sustainability program can be of mutual benefit to all parties and inspire additional actions towards cleaner and more sustainable sports.

Society

Our society is filled with differing views and opinions related to environmental programs and their importance. We believe we can best serve our communities and society by holding strong to our beliefs that sustainability programs are vital to building stronger communities and bettering society. We will clearly communicate our beliefs, our work, our initiatives and our results to positively influence society with our actions, demonstrate our commitment to building A Stronger World, and ideally serve to inspire others along the way.

Owners

Our owners expect Eleiko’s employees to establish and maintain work methodologies and adopt practices that are aligned with these values. When it comes to the environment it should be treated with a “special kindness,” and we are prepared to implement changes to our business to reflect this strong belief. The company owners are active within an international network (The Family Business Network) for family-owned companies and have pledged to work towards a more sustainable future together with other family-owned companies.

Our Principles

Our company core values, guide our actions. They are woven through all aspects of our business — how we develop our products, conducts ourselves, and develop our partnerships.

Performance

Bring your strongest and best to every moment.

Learning

Stay hungry for improvement and for life itself.

Kindness

Treat the environment, other people, yourself, and your body with the greatest respect.

Eleiko has adopted an Act of Kindness that summarizes the principles that govern Eleiko’s business ethics. All Eleiko’s employees and suppliers must follow the Act with Kindness. This Act with kindness (hereinafter ”the Act”) stipulates the principles for business ethics that Eleiko requires all its suppliers to accept and comply with.

The Act is fundamentally about what actions we consider right and wrong in different situations. At Eleiko, the laws and regulations in the countries where we operate are the obvious starting point, but there are areas where Eleiko has higher ambitions.

Eleiko’s zero-tolerance approach towards corruption, inducement, bribery, actions that limit competition, discrimination, harassment, or unnecessary environmental impact applies to all Eleiko companies, regardless of local practices.

The Act applies to all companies providing products and/or services to Eleiko. It includes the suppliers (and its sub-contractors), its employees, and consultants, jointly referred to as “Suppliers” below.

Suppliers are liable for ensuring that their employees, and those of potential sub-contractors engaged in the delivery to Eleiko, have read, understood, and undertaken to comply with the principles of the Act.

The Supplier shall have a process in place to verify compliance with this Act and that it is liable for following up compliance with its subcontractors. Eleiko evaluate our Suppliers’ compliance with the Act through supplier audits and inspections that take place periodically.

Laws and Ethics

Suppliers are obliged to respect and comply with the laws and regulations that apply in the countries where they conduct business. However, the Act goes further than laws and regulations. The Act describes Eleiko’s fundamental ethical principles and gives guidance on decisions and actions by Eleiko’s Suppliers and their employees. All Suppliers to Eleiko also have to comply with the principles of the UN’s Global Compact, the UN Universal Declaration of Human Rights and the ILO’s Declaration of Fundamental Principles and Rights at Work and OECD Anti-Bribery Convention. The Act outlines the minimum standards Suppliers must observe even when they are more stringent than local legislation.

Corruption

Employees or suppliers must never use gifts, benefits or other prohibited compensation of any kind in their relations with customers, suppliers, authorities or other decision-makers in order to secure or retain business. Employees or suppliers may not accept gifts, benefits or other forms of compensation from customers, suppliers or other parties that could influence the objectivity of their decision-making.

Money Laundering

Suppliers must never accept, facilitate or otherwise support activities that are based on money laundering.

Competition Issues

Suppliers must always act in accordance with applicable legislation governing competition. Suppliers must not exchange information or enter into agreements with competitors, customers or suppliers in a manner that risks preventing, limiting or distorting competition on the market.

Confidential Information

Suppliers are expected to pay particular attention to ensuring that confidential information received from Eleiko is protected and not disclosed to unauthorized parties. In cases where Supplier’s employees come into contact with confidential information (about Eleiko or Eleiko’s customers), this information should be protected and should not be disclosed to any unauthorized party. Suppliers’ employees may not access, duplicate, reproduce or utilize the information other than what is required in order to deliver agreed services to Eleiko or Eleiko’s customers.

Environment

Suppliers shall endeavour to prevent and continuously decrease any adverse impact the company’s operations may have on the environment. Supplier shall endeavour to conduct its operations in an environmentally sustainable manner, and will comply with, or exceed, those standards stipulated by laws, regulations and international convention in terms of reducing emissions to the air, soil and water. Supplier’s services, products and processes should be designed to utilize energy, natural resources and raw materials efficiently, and to minimize the volume of waste and residual products. Supplier shall avoid materials and methods that involve risks to the environment when there are other available and suitable alternatives.

Working Conditions

Suppliers shall respect its employees’ rights of free association and collective bargaining. No employee may be subjected to discrimination or harassment on grounds of age, sex, religion, sexual orientation, disability, political opinion, or ethnicity. During working hours, all Suppliers’ employees involved in the delivery to Eleiko, shall refrain from using alcohol or drugs. Supplier shall work consciously and systematically to create a good working environment, both physically and psychosocially. This in order to achieve a safe and healthy workplace. Appropriate health and safety information and training shall be provided to employees, includingbut not limited to - arrangements for safe evacuations of buildings and correct handling and marking of chemicals and machinery.

Breaching the Act and Whistleblowing

For any identified non-compliance with the Act, the Supplier shall provide a corrective action plan to be approved by Eleiko. Repeated or serious breaches of the principles of the Act is to be considered as material breach of the agreement, which shall result in termination of the collaboration with the relevant Supplier. All Suppliers are urged to report suspected breaches of applicable laws and regulations or the Act. Suppliers may report to their contact person at Eleiko or through the whistleblower service and remain anonymous. All reports will be investigated. Eleiko does not accept any discrimination or other negative consequences for suppliers/ persons that have reported suspected breaches in good faith.

Modern Slavery Act

Our Business

At Eleiko, we work to make people stronger so they can perform better - in sports and in life. For over 60 years, Eleiko has been a worldwide leader within international weightlifting, powerlifting, and strength & conditioning communities. Eleiko is uniquely certified by the IWF, IPF and ParaPowerlifting federations. Our products have been delivered to more than 180 countries and are often seen at the world’s largest championships and in the most respected strength training facilities. More than 1,000 world records have been set with an Eleiko barbell.

Our core operations consist of designing, manufacturing, sourcing, and supplying strength training equipment worldwide. We operate our own factories in Sweden and work with other supply partners in Sweden, Europe, and Asia.

Organizational Structure

Eleiko Group AB, headquartered in Halmstad, Sweden, acts as the parent company to wholly owned sales subsidiaries in Norway, Germany, UK, Spain, France and the United States. Eleiko Group employs ca. 200 people in total and the parent company is privately owned by the Blomberg family.

UN

Global Compact

Eleiko is a participating member of UN Global Compact which is a UN led program for companies that work to align strategies and operations with universal principles on human rights, labour, environment and anti-corruption, and work to take actions that advance societal goals. Our commitment to UN Global Compact guides us and prohibits any slavery and forced labor.

Policies on Slavery and Human Trafficking

Eleiko is an international business with employees and operations in many different countries. We acknowledge the importance of conducting international business with good governance and high ethical standards. Our policies on slavery and human trafficking are anchored around a strong governance structure including the following elements:

Owners’ Directive: The directive guides the work by the board of directors and is centred around the instruction that “Eleiko’s values are based on humanism and kindness through which the human being is always at the centre. This includes all company stakeholders such as customers, suppliers and employees.”.

Board of Directors: Eleiko has appointed a professional board of directors with members with strong backgrounds in international business and development of sustainability initiatives. Eleiko’s board constitutes a majority of external members, in addition to members of the owner family.

Family Business Network & The Polaris Initiative: Eleiko is a member of The Family Business Network and we have pledged our commitment to the Polaris initiative. Polaris is a global movement of family businesses focused on maximizing economic, social, and environmental impact.

Eleiko Code of Conduct: Our code of conduct (Eleiko Act of Kindness) sets out the principles and framework for how we do business including policies for slavery and human trafficking. We require compliance to our code of conduct from all suppliers and regularly conduct supplier assessments to ensure adherence to our principles. All new staff is provided and trained in our code of conduct.

Trough our code of conduct, all suppliers to Eleiko must comply with the principles of the UN Global Compact, the UN Universal Declaration of Human Rights and the ILO’s Declaration of Fundamental Principles and Rights at Work and OECD Anti-Bribery Convention. Our code of conduct outlines the minimum standards suppliers must comply with even when they are more stringent than local legislation.

We also perform audits of identified high risk suppliers. We require that suppliers, contractors, distributors, and agents make every effort to comply with our code of conduct, which shall be part of the business agreement any supplier has with Eleiko. We are not aware of any material instances of non-compliance at this moment. Breaches against our code of conduct, policies, or applicable law can be directly reported to the company or via an anonymous whistle blower platform which is set up and administered by an independent third-party firm.

This statement is made pursuant to section 54(1) of the Modern Slavery Act 2015 and constitutes our slavery and human trafficking statement for the period 2024-2025. This statement applies to the UK activities of both Eleiko Group AB and our UK subsidiary Eleiko Sport Ltd.

9th May 2025

Erik Blomberg CEO – Eleiko Group AB Board of Directors – Eleiko Group AB

Work Environment and Equality Policy

A Culture of Kindness

The overall goal for our work regarding the work environment at Eleiko is to promote health factors and, through preventive work, detect and remedy risks to prevent injuries at our workplace, such as accidents and illnesses related to the work situation.

That includes both the physical well-being and the organizational and social work environment. In addition to statutory requirements set out in the Work Environment Act and the Swedish Work Environment Authority’s regulations, we strive for a pleasant and welcoming work environment that inspires good collaborations, high efficiency and quality in our work that enables development for all employees.

This work environment policy aims to clarify to our employees what we do at Eleiko to ensure that we all have a safe and pleasant work environment. The policy also ensures that the activities that affect the work environment are carried out efficiently and are a natural part of our organization.

Eleiko’s systematic work with the work environment (SAM, systematisk arbetsmiljöarbete) must be a natural part of the business where our routines for ongoing investigation, evaluation, measures, and follow-up are followed. The planning and execution are a collaboration between the organization, employees, safety representatives, and occupational health care.

Our annual routines and processes for following up and ensuring that the work is systematic is compiled according to the following:

First Quarter

• Annual follow-up of SAM (systematisk arbetsmiljöarbete).

• Collect and evaluate incident reports and follow up on the previous year’s work environment goals.

• Include goals for work environment in the business plan.

• Evaluate plan for crisis, emergency, and fire protection.

• Meeting with work environment committee.

• Follow up on employee goals.

Second Quarter

• Actions in the action plan are carried out.

• CPR education.

• Safety round-, risk assessment-, and action management.

• Meeting with work environment committee.

Third Quarter

• Meeting with the work environment committee.

• Review the status of active assignments in the action plan for work environment.

Fourth Quarter

• Annual employee review and role description updates.

• Competence budget.

• Employee survey.

• Meeting with the work environment committee.

• Safety round-, risk assessment-, and action management.

Building a Stronger World

At Eleiko, we are committed to building A Stronger World through sustainable practices that minimize negative impacts on the environment, society, and economy. Our sustainability policy aims to create shared value, promote a sustainable future, and positively impact all stakeholders, including suppliers, employees, customers, and end-users. With the ambition to take leadership of sustainability in our industry, we take accountability for our environmental impact and carbon footprint, and actively contribute to realizing The Generational Goal established by the Swedish government to leave a healthier environment for the next generation.

Eleiko endorses the Swedish government’s Generational Goal, the UN Sustainable Development Goals, and the ten principles of the UN Global Compact which all aim to solve environmental and social concerns for the next generations. We believe that we can make the greatest impact on reaching the goals by lowering our greenhouse gas emissions and creating products with high durability and longevity.

As a member of the UN Global Compact, Eleiko shall operate responsibly, in alignment with universal sustainability principles, taking actions to support society in the realms of human rights, labour standards, the environment, and anti-corruption, and annually reporting our ongoing efforts.

Goals and Objectives

• Make sustainability a core component of our corporate strategy and an important factor in our overall decision-making processes.

• Eleiko’s Sustainability Team develops and enacts policies and initiatives that inform, inspire, and lead our sustainability work forward throughout the organization.

• Clearly communicate our sustainability goals and policies to our stakeholders.

• Retain ISO 14001 certification standards to ensure we are demonstrating our commitment to quality and sustainability.

• Identify actions and launch initiatives to support The Generational Goal and the UN Global Compact principles by measuring and reporting our performance.

• Support projects and community causes locally and globally that we believe will help building A Stronger World.

To achieve our sustainability ambitions, we have identified three targets within the UN Sustainable Development Goals that we believe we can make the most impact:

Target 3-4: Reduce mortality from non-communicable diseases and promote mental health.

Target 12-2: Sustainable management and use of natural resources.

Target 13-2: Integrate climate change measures into policies and planning.

Environment

Climate Strategy

Our climate strategy shall be a part of our overall strategy, including how to lower greenhouse gas emissions. The strategy shall be in alignment and compliance with the UN Global Goals for Sustainable Development and the Ten Principles of the UN Global Compact.

Climate Change Risks

We shall annually identify and evaluate the risks associated with climate change that could have a negative effect on Eleiko as a business. There shall be a clear management plan on how to mitigate those risks.

Environmental Management Systems and Certifications

We shall maintain our ISO 14001 certification. This certification demonstrates Eleiko’s commitment to environmental management and sustainability practices. By maintaining this certification, we will continue to improve our environmental performance, reduce our carbon footprint, and minimize waste and pollution. Our annual plans ensure that we continuously enhance our performance and operate at the highest standards of sustainability.

Social Human Rights

At Eleiko, we are committed to respecting human rights and upholding the UN Guiding Principles on Business and Human Rights. We shall work to eliminate any forms of discrimination, forced- or child labour, and other human rights violations from our operations and supply chains. This is essential to creating a safe and respectful work environment for all employees and promoting sustainable and ethical business practices.

Community Impact

We shall recognize the potential impact of our operations on local communities and remain committed to responsible and engaged participation. We shall collaborate with local initiatives and organizations that promote environmental, social, and economic sustainability. Through our commitment to community impact, we strive to create a lasting and beneficial legacy in the areas where we operate.

Working Conditions and Safety

We prioritize the safety and well-being of our employees, partners, and customers. We shall maintain the highest standards of working conditions and safety, preventing accidents and occupational illnesses through risk assessments, training, and safety protocols.

Equality and Social Inclusion

We shall promote equality and social inclusion in all aspects of our business. We believe that diversity is essential to innovation and progress, and we aim to foster a culture of inclusion where everyone feels valued and respected. We shall work to eliminate any forms of discrimination and promote equal opportunities for all employees and stakeholders, regardless of their race, gender, religion, sexual orientation, or background.

Governance

Annual Reporting, Transparency, and Disclosure

At Eleiko, we believe that transparency and accountability are essential to building trust with our stakeholders. We are committed to conducting annual sustainability reporting, adhering to recognized international standards, and covering all relevant aspects of our operations. Our reporting shall showcase our progress towards sustainability goals and provide stakeholders with insight into our ESG performance. In addition to regular updates, we shall strive to provide clear and concise information on the impacts of our operations, including any potential risks or challenges. Through transparency and disclosure, we aim to enhance our sustainability performance and promote trust and collaboration with our stakeholders.

Anti-Corruption

We believe that a sustainable future requires a commitment to anticorruption practice and we are dedicated to upholding high ethical standards and compliance with all applicable laws and regulations. We will not tolerate any form of corruption, bribery, or unethical behaviour from our employees, suppliers, or partners. We shall continuously review and improve our policies and procedures to ensure that we operate according to these principles.

Stakeholder Engagement

We are dedicated to working with our stakeholders to comprehend their perspectives and incorporate their feedback into our decisionmaking processes. Our objective is to form cooperative relationships with our stakeholders, based on shared respect and openness, to generate mutual value. We shall communicate consistently with our stakeholders, updating them on our sustainability performance and seeking their opinion on significant sustainability issues.

Whistleblower Policy

We shall maintain a culture of openness, where employees or other stakeholders feel empowered to report any misconduct or unethical behaviour they witness without fear of retaliation. We have established an external whistleblower service to ensure that all reports are handled confidentially, thoroughly investigated, and addressed appropriately.

Auditor’s report on the statutory sustainability report

To the general meeting of the shareholders in Eleiko Group AB, corporate identity number 5569048498

Engagement and responsibility

It is the board of directors who is responsible for the statutory sustainability report for the year 2024 and that it has been prepared in accordance with the Annual Accounts Act according to the prior wording that was in effect before 1 July 2024.

The scope of the audit

Our examination has been conducted in accordance with FAR’s standard RevR 12 The auditor´s opinion regarding the statutory sustainability report. This means that our examination of the statutory sustainability report is substantially different and less in scope than an audit conducted in accordance with International Standards on Auditing and generally accepted auditing standards in Sweden. We believe that the examination has provided us with sufficient basis for our opinion.

Opinion

A statutory sustainability report has been prepared.

Date (electronically signed)

Öhrlings PricewaterhouseCoopers AB

Evelina Nilsson

Authorized Public Accountant