EU TAXONOMY

This section contains the EU Taxonomy disclosures required by Article 8 of Regulation 2020/852 (the EU Taxonomy Regulation).

The EU Taxonomy Regulation identifies the following six environmental objectives:

1. Climate change mitigation

2. Climate change adaptation

3. The sustainable use and protection of water and marine resources

4. The transition to a circular economy

5. Pollution prevention and control

6. The protection and restoration of biodiversity and ecosystems

The EU has published a catalogue of economic activities that can be considered for the first two environmental objectives: the Climate Delegated Regulations.

The sectors currently covered include energy, selected manufacturing activities, transport and buildings.

The manufacturing of food products and beverages is not yet covered by the Climate Delegated Regulations.

We have concluded that our core economic activities related to the production and selling of indulgent and natural snacking products are not covered by the Climate Delegated Act and consequently are at present not considered Taxonomy-eligible.

As none of our revenue-generating activities are described currently in the Climate Delegated Regulations, our reporting under the EU Taxonomy Regulation is limited.

It is important to note that ‘non-eligible’ under the EU Taxonomy Regulation refers to the fact that the activities at present remain outside the scope of the economic activities for which technical screening criteria have been developed under the current Delegated Regulations.

We will continue to assess our Taxonomy-eligible and aligned activities considering the evolving legal framework of the EU Taxonomy Regulation and to continue to integrate the requirements of the EU Taxonomy in our business model and reporting policies and procedures.

In the meantime, we keep exploring ways to reduce our emissions.

For a qualitative description of our CapEx and OpEx relating to climate change mitigation and adaptation we refer to Chapter 2 of our Annual Report.

The definition of the key performance indicators (KPIs) is determined in accordance with Annex I of the Art. 8 Delegated Act.

The turnover KPI is defined as the proportion of Taxonomy-eligible economic activities in our total turnover (numerator) divided by the net turnover (denominator). The denominator of the turnover KPI is based on our consolidated revenue as presented in our Consolidated Income Statement.

With regard to the numerator, we have not identified any Taxonomyeligible activities as explained above.

The CapEx KPI is defined as Taxonomy-eligible CapEx divided by our total CapEx.

Total CapEx (denominator) consists of additions to tangible and intangible assets during the financial year considered before depreciation, amortisation and any re-measurements, including those resulting from revaluations and impairments, for the relevant financial year and excluding fair value changes. The denominator includes also additions to tangible and intangible assets resulting from business combinations and leases.

With regard to the numerator, as we have not identified Taxonomyeligible economic activities, we do not record CapEx related to assets or processes that are associated with Taxonomy-eligible economic activities.

The OpEx KPI is defined as Taxonomy-eligible OpEx divided by our total OpEx.

Total OpEx (denominator) includes direct non-capitalised costs that relate to research and development, building renovation measures, shortterm lease, maintenance and repair, and any other direct expenditures relating to the day-to-day servicing of asset of property, plant and equipment by the undertaking or third party to whom activities are outsourced that are necessary to ensure the continued and effective functioning of such assets.

With regard to the numerator, as we have not identified Taxonomyeligible economic activities, we do not record OpEx related to assets or processes that are associated with Taxonomy-eligible economic activities.

As our economic activities are not covered by the Climate Delegated Act, the share of Taxonomy-eligible economic activities in our total revenue is 0%. Consequently, the related CapEx and OpEx are also 0%.

We acknowledge that the Commission Delegated Regulation (EU) 2021/2178 of July 6, 2021 (hereafter referred as Regulation) requires to disclose the information referred to in Article 8, paragraphs 1 and 2, of Regulation (EU) 2020/852 as specified in Annex I to the Regulation, presented in a tabular form by using the templates set out in Annex II to the Regulation.

However, as most fields would be empty or nil, for the sake of clarity for our readers, we present all required information as in the simplified tabular form hereunder.

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