2. Climate Change (ESRS E1)

2.1 Disclosures according to EU Taxonomy

EU Taxonomy disclosures are governed by Regulation (EU) 2020/852 of the European Parliament and of the Council of 18 June 2020 on the establishment of a framework to facilitate sustainable investment, supplemented by Commission Delegated Regulations (EU) 2021/2139, (EU) 2021/2178 and (EU) 2023/2486, as well as by Commission Notice (C/2024/6691) on the interpretation and implementation of certain legal provisions of the Disclosures Delegated Act under Article 8 of the EU Taxonomy Regulation on the reporting of Taxonomy-eligible and Taxonomy-aligned economic activities and assets (third European Commission Notice).

The EU Taxonomy disclosures from the previous financial year 2024 can be found in the templates of the 2024 Non-Financial Report.

UNIQA currently has no strategic objectives with respect to the performance indicators of the EU Taxonomy. However, elements such as climate risk-based benefits for customers in accordance with the substantial contribution criteria will be taken into account in product development in the field of non-life insurance in the future.

Information on the application of the EU Taxonomy templates

The European Parliament extended the scrutiny period for the delegated act adopted by the European Commission on 4 July 2025 from the Omnibus I package to simplify taxonomy reporting until January 2026. Due to this legal uncertainty at the time the report was being prepared, UNIQA opted not to apply the amendments for the financial year and to continue using the templates as in the previous year.

2.1.1 Premiums in non-life insurance and Taxonomy-eligible activities

2.1.1.1 Discretionary judgements and interpretation requirements

In the financial year, there was still no uniform understanding in market practice regarding the determination of taxonomy alignment, for example when calculating premium shares that relate to climate change adaptation allowances. This was done in the financial year based on long-term loss histories resulting from recognised climate-related risks.

2.1.1.2 Reporting principles

Under the EU Taxonomy Regulation, insurance companies are required to disclose an indicator in relation to their non-life insurance business (economic activities 10.1 and 10.2). European legislators have therefore defined certain business lines of non-life insurance that are considered environmentally sustainable in relation to the environmental objective of climate change adaptation. The business lines specified in the EU Taxonomy are:

• Medical expense insurance

• Income protection insurance

• Worker’s compensation insurance

• Motor vehicle liability insurance

• Other motor insurance

• Marine, aviation and transport insurance

• Fire and other damage to property insurance

• Assistance

The business lines classified by UNIQA as Taxonomy-eligible are:

• Income protection insurance

• Motor vehicle liability insurance

• Other motor insurance

• Marine, aviation and transport insurance

• Fire and other damage to property insurance

• Assistance

In terms of non-life insurance, detailed research was conducted on Taxonomy-eligible property and casualty insurance by using the templates set out in Annex X to the Delegated Regulation (2021/2178), with respect to all premium elements, based on the premiums written, separated by direct and indirect business and before and after any reinsurance. Underwriting specialists analysed the content of insured benefits and scope of cover to establish whether they were adapted to the impacts of climate change. As a result of the different cover being issued in places, retail and corporate business were analysed separately and classified in relation to the insurance activity’s taxonomy eligibility and alignment. The proportion of Taxonomy-eligible economic activities in the total charged non-life insurance premiums (before reinsurance) was also determined. The premiums were divided into premium shares in accordance with the provisions of the draft version of the third Notice of the European Commission, which relate to climate change adaptation coverage. The technical screening criteria (TSC), compliance with minimum social safeguards (MSS) and do no significant harm (DNSH) criteria laid down in the Delegated Regulation were also checked.

2.1.1.3 Limited data availability or documentation

The above-mentioned evidence could not be documented for retail business, standardised SME business, or acquired non-faculative reinsurance business and therefore could not be included in the Taxonomy-aligned premiums. This is because no climate risk-based benefits are currently provided for retail business and compliance with the minimum social safeguards could not be demonstrated for standardised SME business and the acquired non-faculative reinsurance business.

As part of its corporate business in a customised contract form, and the share of premiums calculated there for insurance coverage for natural disasters that are also related to climate change, it was possible to demonstrate compliance with the “substantial contribution” criteria, “do no significant harm” criteria, and with the “minimum social safeguards” for the financial year.

To comply with the “do no significant harm” criteria, premiums from activities related to the extraction, storage, transportation, or manufacturing of fossil fuels, and premiums from insurance of vehicles, property, plant and equipment, or other installations used for these purposes were excluded from the Taxonomy-eligible premiums.

“Substantial contribution criteria” were also verified for corporate business, but not for retail business. The criteria of “leadership in modelling and pricing climate risks”, “product design”, “innovative insurance coverage solutions”, “transfer of data” and “high performance levels after a catastrophe” were appropriately substantiated for the corporate business. However, it was not possible to demonstrate that the criteria relating to product design for the retail business had been met.

As in the previous year, UNIQA provided evidence of compliance with the minimum social safeguards (MSS) for corporate customers for the financial year. Compliance with the international standards and frameworks specified in Art. 18 of the EU Taxonomy Regulation was verified both by the “pre-offer ESG risk assessment” and by the analysis of existing portfolio customers. For more details, please refer to the sections Climate change in the corporate business and Workers in the value chain (ESRS S2).

Processes for ensuring compliance with the minimum protection criteria for human and labour rights, preventing corruption and bribery, taxation and fair competition were also established for UNIQA’s own operations (including its relations with suppliers).

In the financial year, the proportion of the Taxonomy-eligible premium was 6.9 per cent (2024: 7.0 per cent), of which 5.3 per cent was Taxonomy-eligible and not aligned (2024: 5.9 per cent) and 1.5 per cent was Taxonomy-eligible and aligned (2024: 1.1 per cent). Taxonomy-aligned premiums amounted to €76.7 million (2024: €51.2 million). The increase in Taxonomy-aligned premiums is due to the expansion of the analysis to include additional business lines and the acquired corporate business (excluding non-facultative reinsurance), as well as to a higher proportion of corporate customers in individual countries that comply with the minimum social safeguards criterion. Due to the complex contractual structures in the different types of reinsurance, it is not possible to show the exact reinsurance proportion of Taxonomy-aligned premiums. If the reinsurance premium had been expressed as a percentage of the gross premiums written using an approximation method, the reinsurance share would be 9.2 per cent (2024: 20.5 per cent) (€7.1 million, 2024: €10.5 million).

Reporting template: The underwriting KPI for non-life insurance and reinsurance undertakings

2.1.2 Investments and Taxonomy-eligible activities

2.1.2.1 Discretionary judgements and interpretation requirements

Delegated Regulation (EU) 2021/2178 specifies that insurance companies must make disclosures in relation to investments. Any undertaking that falls under the obligation to report under Articles 19a and 29a of Directive 2013/34/EU is required to make disclosures under Art. 8 of the EU Taxonomy Regulation. These include large public interest entities with more than 500 employees, total assets in excess of €25 million, or net revenue of over €50 million. These companies are required to report information on environmentally sustainable economic activities in accordance with the EU Taxonomy Regulation. This scope is also applied for counterpositions of UNIQA’s investments. The taxonomy classification is carried out with the support of the external data provider ISS STOXX.

UNIQA’s metrics on taxonomy alignment and eligibility with respect to both revenue and operating expenses are based on data from financial and non-financial companies.

The published assessment criteria for all six environmental targets were taken into account when calculating taxonomy eligibility and alignment:

• Climate change mitigation

• Climate change adaptation

• Sustainable use and protection of water and marine resources

• Transition to a circular economy

• Pollution prevention and control

• Protection and restoration of biodiversity and ecosystems

Coverage comprises the following assets (excluding assets of countries, central banks and supranational issuers):

• Property, plant and equipment

• Investments

• Unit-linked and index-linked life insurance investments

The scope of coverage underlying the calculation in accordance with the templates contained in Annex X of Delegated Regulation (EU) 2021/2178 is €19,425.3 million (2024: €18,226.4 million), representing 71.1 per cent of the coverage (2024: 67.9 per cent).

2.1.2.2 Reporting principles

The calculation of the company-related KPIs in accordance with Art. 8 of the EU Taxonomy Regulation refers to the investments of UNIQA Insurance Group AG published for the financial year in the consolidated Group report.

Direct investment and internally managed funds

Data on internally managed non-listed funds is provided by the external data provider SOF and the asset manager Stepstone.

All other internally managed funds are evaluated at item level for taxonomy eligibility and alignment based on data provided by ISS. The same approach is taken for direct investments. Where an internally managed fund contains a third-party fund, the third-party fund is evaluated as follows.

Third-party funds

ISS uses data on the taxonomy eligibility and alignment of third-party funds. UNIQA does not examine the taxonomy eligibility and alignment of the companies within the third-party funds at the individual position level.

Real estate

Compliance with the substantial contribution criteria and the do no significant harm criteria was demonstrated for investment property (economic activities 7.1 New construction and 7.7 Acquisition and ownership of buildings in accordance with the EU taxonomy). For this purpose, a climate risk analysis was carried out for the majority of properties with an energy performance certificate of energy efficiency class C or better. The analysis concerned roughly 77.1 per cent (2024: 74.4 per cent) of investment properties with a combined fair value of approximately €3.0 billion (2024: €3.0 billion). (For more information see the section Climate change in real estate and operational ecology.)

2.1.2.3 Limited data availability or documentation

As an exception to the carrying amounts and various IFRS measurement methods applied when preparing the consolidated financial statements, the taxonomy metrics were calculated across the board on the basis of fair values. The resulting differences to the carrying amounts reported in the consolidated financial statements are mainly from the investment properties partially measured at acquisition costs in the Consolidated Statement of Financial Position and from the associated interests accounted for using the equity method.

2.1.2.4 Additional disclosures pursuant to Annex X of the EU Taxonomy Regulation – KPIs pursuant to Art. 8

All government bonds and bonds from supranational issuers were eliminated from the calculation in accordance with the Delegated Acts to the EU Taxonomy Regulation.

The proportion of exposure to governments, central banks and supranational issuers amounts to 28.9 per cent (2024: 32.1 per cent) with regard to all investments.

2.1.2.5 Additional disclosures related to Annex XII EU Taxonomy Regulation

The following additional disclosures are published on the basis of Delegated Regulation (EU) 2022/1214 amending Commission Delegated Regulation (EU) 2021/2139 as regards economic activities in certain energy casting sectors and Commission Delegated Regulation (EU) 2021/2178 as regards specific public notices for these economic activities:

Article 1 lists the amendments to Delegated Regulation (EU) 2021/2139 and Article 2 the amendments to Delegated Regulation (EU) 2021/2178.

Investments in companies with relevant engagement that fall under the scope of the economic activities below are to be reported in the corresponding templates 1–5 provided in Annex XII.

UNIQA publishes the templates for nuclear energy and fossil gases in accordance with Regulation 2022/1214 Annex XII. In so doing, UNIQA has no dedicated financing in the aforementioned areas and does not make targeted investments in companies in the aforementioned activities. The exposure arises from the counterparties’ disclosure of the templates.

Based on the revenue key performance indicator (KPI) in the financial year, the share of Taxonomy-aligned activities in the nuclear energy and fossil gases sectors decreased to 0.02 per cent (2024: 0.25 per cent) (Template 2 – denominator perspective). Based on operating expenses, the proportion fell to 0.01 per cent (2024: 0.24 per cent) in the financial year.

2.1.2.6 Comparison with previous year

In 2024, the weighted average value of all investments geared towards or associated with the financing of Taxonomy-aligned economic activities relative to the value of total assets recognised for the purpose of calculating the KPI was 13.00 per cent on a revenue basis, which corresponds to an absolute value of €2,369.0 million). The corresponding figure for the financial year was 14.3 per cent (€2,777.2 million). In terms of CapEx, the figure for the previous year was 1.07 per cent (€195.4 million) compared with 3.6 per cent (€706.7 million) in the financial year. This positive development is partly due to the fact that additional data has been included in the calculation, particularly for bonds with a known use of proceeds (green bonds).

The Taxonomy-aligned activities consist of 82.6 per cent from the real estate and housing sector (2024: 93 per cent), 4.0 per cent from the construction sector (2024: 3 per cent), 6.7 per cent from the energy supply sector (2024: 2 per cent) and 6.7 per cent from the remaining sectors (2024: 2 per cent).

2.2 Climate change (E1)

2.2.1 Transition plan for climate change mitigation (E1-1)

2.2.1.1 UNIQA on the journey to climate transition

In light of the need to rapidly implement targeted, streamlined actions to address climate transition and reduce CO₂ emissions, the climate strategy represents the centrepiece of the UNIQA sustainability strategy. As an insurance company, UNIQA assumes responsibility for both direct and indirect emissions resulting from financing, investments and property insurance policies. The aim is to align the business model with the targets agreed under the Paris Agreement.

UNIQA recognises that the transition to a net-zero economy requires time, commitment and innovation. For this reason, UNIQA is committed to regularly reviewing progress and to working on plans and actions to reach the goal of achieving net-zero emissions in the insurance business and in its own operations by 2040 in Austria and by 2050 Group-wide across all business segments (investment, insurance, own operations).

Net-zero emissions are defined as the reduction of GHG emissions from operations (Scopes 1, 2 and 3) to zero at best or to a residual level that is compatible with achieving net-zero emissions at global or sectoral level in corresponding scenarios or sector paths within the framework of the targets set forth in the Paris Agreement, and as the offsetting of all residual emissions by the net-zero target year and all GHG emissions subsequently released into the atmosphere. UNIQA’s net-zero target does not currently meet ESRS definitions because no target has yet been set for emissions reductions in 2040 or 2050, only interim targets. Activities are currently focused on significantly reducing gross emissions in line with defined reference trajectories. Actions to offset remaining residual emissions in the planned net-zero target year have yet to be defined.

To achieve the stated goal, UNIQA has developed decarbonisation measures, strategies, standards and guidelines specific to the core business and developed a Group-wide transition plan. The adoption of the UNIQA decarbonisation policy in 2019 was the first major step towards the climate transition. The policy entailed the phase-out of coal in both the investment and the insurance business and led to the development of a comprehensive sustainability strategy. This strategy was rolled out at the end of 2020 and reinforced in 2021 by the accession of UNIQA to the Net-Zero Asset Owner Alliance (NZAOA) and the Austrian Green Finance Alliance (GFA). In addition, the interim climate targets were validated by the Science Based Targets Initiative (SBTi) in 2023. Group-wide interim climate targets for four areas of the investment portfolio were validated along with those for the Group’s own operations. This represents a significant step for UNIQA towards optimising the alignment of the portfolio and the GHG emissions of the Group’s own operations with the targets set forth in the Paris Agreement.

“UNIQA on the Journey to Climate Transition” marks one of the first steps towards a transition plan and outlines the approach and future actions for achieving a comprehensive climate transition. As sustainability is a core aspect of the new strategy programme, UNIQA 3.0 – Growing Impact, which entered into force in 2025, and owing to the fact that the UNIQA sustainability strategy pursues a holistic approach that unites economic ambition with a clear commitment to the environment and society, corresponding targets and actions have also been defined. Specific to the core business, the targets and actions of these strategies are aligned with established international and national frameworks and, like the transition plan, are continually reviewed and refined. Integration of these targets and actions into financial planning is currently in progress and will be accelerated in 2026 through detailed planning for the achievement of interim targets. “UNIQA on the Journey to Climate Transition” was developed in consultation with the various company divisions, adopted by the Management Board in October 2024 and published in December 2024. As part of the new strategy programme, UNIQA aims to define specific action plans by 2028 for achieving the set interim targets and thereby complete the transition plan. Current progress on the topic of climate transition is presented in the sub-sections on ESRS E1 “Climate change”.

Although offsetting of residual emissions will be necessary in the future to achieve net-zero emissions, at present UNIQA is focusing on reducing and mitigating GHG emissions with respect to all actions and targets. Accordingly, the primary focus is on avoiding the consumption of (fossil fuel) energy and the associated emissions from greenhouse gases to the greatest possible extent as well as reducing the fossil fuel share and replacing energy sources with sustainable alternatives. Comprehensive decarbonisation plans and strategies are already in place in this regard. As a result, no offsetting measures are being introduced for the time being. UNIQA does not currently use an internal carbon price.

As a company focused on insurance, UNIQA does not invest directly in assets related to the production or processing of coal, crude oil or natural gas. Long-term investments in these sectors are therefore not reported. Investments in investment products from companies that operate in the coal, oil or natural gas sectors and insurance coverage for corresponding companies are indirectly linked to the production or processing of fossil fuels. According to the decarbonisation strategy, an exit plan has been established in relation to fossil fuels, which is described in the sub-section on climate-related topics in investment. UNIQA is not exempt from the EU benchmarks set forth in the Paris Agreement in accordance with the EU Benchmark Regulation.

2.2.1.2 Progress on the transition plan in the financial year

During the financial year, GHG emissions data was analysed in detail across the Group and a guidance document was developed for all Group companies that focuses on the transition to green electricity as the area with the greatest leverage for reducing Scope 2 GHG emissions. Detailed plans for the electrification of the vehicle fleet have been in place since 2025. UNIQA is therefore on track to achieve its targets of completely transitioning to electric vehicles in Austria by 2030 and making 20 per cent of its international fleet electric by 2030. Building on this, a detailed planning process will commence in 2026 in order to systematically evaluate the achievement of the SBTi-validated Scope 1 and 2 target (–42 per cent by 2030 compared with 2021) and to define action. UNIQA joined PCAF in 2025 to improve the quality of data on financed GHG emissions. In parallel, new target-setting methods such as the SBTi FINZ (Financial Institution Net-Zero) standard and metrics for portfolio-related emission performance (iPEPs) from the Environment Agency Austria are being evaluated for the underwriting portfolio. Following the entry into force of additional criteria in the financial year (5 per cent threshold for investments in the coal and oil sectors; no new insurance contracts with natural gas companies that generate more than 30 per cent of their revenue from activities in the natural gas sector), the phase-out of fossil fuels is progressing as planned. Engagements with companies in which UNIQA invests are successful and promote decarbonisation in key portfolio positions. The internal evaluation of the SBTi targets for investments confirms that UNIQA is on course to achieve its goals. No adjustments to the content of the transition plan were necessary.

In 2025, an ESG Customer Strategy was developed and rolled out for the international UNIQA insurance companies to supplement the ESG Retail Strategy applicable in Austria. It focuses on the product development process, preventing climate risk, social issues and consulting approaches. The aim behind this is to support customers affected by corresponding climate-related impacts and risks. The ESG Customer Strategy drives the entire retail business forward in terms of ESG, while leaving scope for local action and implementation options. This leeway is necessary due to the variation in the retail business across international UNIQA insurance companies.

Details on the progress made to date can be found in the respective sub-sections.

2.2.1.3 Transition plan for investment

UNIQA’s investment strategy follows the principles of sustainability, the Paris Agreement and the overarching goal of achieving net-zero emissions across the Group by 2050. An analysis of the portfolio based on CO₂ emissions is used to identify climate risks and opportunities at an early stage and to assess the willingness of emitters to embrace the transformation in line with the targets set forth in the Paris Agreement. Sustainable investments contribute to financing the transformation, reducing our exposure to ESG risks and increasing sustainability-related opportunities.

The weighted average carbon intensity (WACI) and carbon footprint trajectory entails reductions of 60 per cent in the WACI and 48 per cent in the carbon footprint by 2030 compared with the 2021 base year, in line with recommendations from the Intergovernmental Panel on Climate Change (IPCC). UNIQA’s validated SBTi targets confirm efforts to limit global warming to 1.5°C.

Several decarbonisation levers for reaching net zero have been identified:

• Decarbonisation strategy: Phase-out of fossil fuels and nuclear energy by 2035. New investments in coal, oil and natural gas will be gradually curtailed and eventually discontinued altogether.

• Reducing emissions intensity: Managing portfolio efficiency gradually reduces the GHG emissions intensity of investments.

• Promoting SBTi targets: UNIQA helps emitters set their own science-based climate targets.

Emitters that contribute to reducing emissions or social projects are financed through sustainable investments. These investments are broken down into the following categories: green, social and sustainability bonds, SFDR Article 9 funds, and sustainable infrastructure projects and technologies. Engagement activities are designed to promote decarbonisation efforts among companies and prevent divestments wherever possible. In the financial year, the value of sustainable investments came to €2.5 billion. UNIQA has therefore achieved its target.

To minimise the risk of residual emissions from individual companies in which UNIQA invests by 2050, the emissions in question should ideally be offset by the companies themselves. The net zero by 2050 investment target requires any remaining emissions to be offset through carbon credits. In order to reduce the financial risk, work is underway on a gradual phase-out of investments in fossil fuels and nuclear energy. Targeted engagement activities have also been undertaken with the companies since 2022. The focus is on companies that together account for 65 per cent of UNIQA’s financed emissions. In addition to the engagement activities, a limit system has been established for direct investments in GHG-intensive emitters. Investments are only permitted if at least one of the following criteria is met:

• The investment takes the form of a green, social or sustainability bond.

• The emitter has committed to a plan to reduce GHG emissions.

• The emitter has obtained an above-average ESG status from ISS.

• The investment has been approved by the Asset Liability Management Committee.

At this point in time, UNIQA has not yet developed specific targets or plans for the development of Taxonomy-eligible and Taxonomy-aligned revenues, CapEx or OpEx. Further developments on this topic will be monitored on an ongoing basis and taken into account as necessary in future strategy adjustments.

The transition plan with regard to investments is set out in the UNIQA Group Responsible Investment Guideline approved by the Management Board. Progress on the implementation of the transition plan for investment and the actions taken are described in detail in the sub-sections on climate-related topics in investment.

2.2.1.4 Transition plan in corporate business

UNIQA’s strategy in the corporate business follows the principles of climate change mitigation, the Paris Agreement and the overarching goal of achieving net-zero emissions in Austria by 2040 and across the Group by 2050. The main strategic goals include reducing GHG emissions, strengthening customer resilience to climate-related risks and producing sustainable product solutions. A comprehensive sustainability risk assessment is used to identify climate-related risks and opportunities and foster customer willingness to transform their business activities.

UNIQA has identified several decarbonisation levers for reaching net zero in the corporate business:

• Fossil fuel phase-out: UNIQA is pursuing a gradual exit strategy from fossil fuel transactions. Since 2024, no new contracts are concluded with companies active in the crude oil sector, and this has also applied to companies in the natural gas sector since 2025. Exceptions are granted for companies that pursue science-based climate targets in line with the Paris Agreement.

• Expansion of the renewable energy business: UNIQA actively supports the expansion of renewable energy and offers dedicated insurance solutions for companies in the wind, solar and hydropower sector. The aim behind this is to contribute to the transition to zero-carbon energy and increase customer resilience.

• Engagement with carbon-intensive customers: Since 2024, UNIQA has conducted an annual analysis of the top ten GHG emitters in each market to subsequently initiate targeted measures to reduce emissions. This approach to reducing emissions requires closer engagement with customers in carbon-intensive sectors to help them in their climate transformation and ensure that they remain on track to meet the targets set forth in the Paris Agreement.

To meet growing market demand, the development of innovative sustainability products is encouraged in the corporate business.

As part of the decarbonisation strategy, interim targets were set to reduce insurance-associated Scope 3 emissions by 2040 for Austria and by 2050 for the other countries in which UNIQA operates. These five-year interim targets support the implementation of the climate strategy. Due to a lack of methodological guidelines and standards, it is currently not possible to assess the climate targets in the corporate business in terms of alignment with the targets set forth in the Paris Agreement.

The transition plan is integrated into the UNIQA Group ESG Underwriting Standard and was approved by the Management Board. Responsibility for compliance and implementation of the transition plan rests with the management functions responsible for the Corporate Business & Affinity business segment at both UNIQA Austria and UNIQA International.

Any need to adapt the strategy is monitored on an ongoing basis and integrated into future implementation measures as required. Progress on the implementation of the transition plan and the actions taken are reviewed on an ongoing basis and described in detail in the sub-sections on climate-related topics in corporate business.

2.2.1.5 Transition plan in the retail business

Climate change adaptation and mitigation are two of the key elements of UNIQA’s sustainability strategy for the retail business. The aim in this regard is to address risks and opportunities arising from the Group-wide climate transition with sustainably designed retail products, and to achieve net-zero emissions in the insurance business by 2040 in Austria and by 2050 across the Group. In addition to climate change adaptation, energy and CO₂ emissions play an important role here.

CO₂ emissions caused by customers have been identified as a decarbonisation lever. Decarbonisation in the retail business is being driven, among other things, by incentivising sustainable mobility. This includes, for example, e-coverage, namely insurance coverage developed especially for electric vehicles, and the carbon pricing model for the new motor vehicle sales product. Launched in Austria, this product offers price reductions for low-consumption vehicles. The establishment of framework conditions for sustainable product development marks an important step in the transition of the retail business toward net-zero emissions. Climate change adaptation, promoting renewable energy and reducing emissions as well as focusing on diversity and inclusion are enshrined in the product development process in Austria through an additional internal guideline. ESG features will be integrated into future products to promote preventive measures by customers and increase their resilience against climate-related damage and extreme weather events. The content of the ESG Customer Strategy is aligned with the ESG Retail Strategy for Austria and prioritises sustainable and innovative product development as well as raising employee awareness in this area. The strategy applies to UNIQA insurance companies outside of Austria. As of 2026, the internal guideline for anchoring sustainability in the product development process will also be available on the international market for local implementation.

Within all those aspects, UNIQA attaches great importance to continually raising awareness of sustainability among its sales employees. Targeted training courses and awareness programmes in sales give sales employees access to information to ensure they are optimally prepared for consultations. In addition, the consulting approach is designed to ensure customers are always offered sustainable products suited to their needs. UNIQA relies on extensive market research to support this, in order to respond to market changes, identify trends early on and optimally meet the sustainability demands of customers.

In this context, UNIQA is working on establishing a quantitative assessment and target setting for the pillars of the sustainability strategy in the retail business. The first step involves creating a database that will serve as a basis for future target setting.

Various measures related to the defined decarbonisation levers are already being implemented across the Group. Please consult the chapter on climate-related topics in retail business for more information.

Progress on the implementation of the transition plan in retail business and the actions taken are described in detail in the sub-sections on climate-related topics in retail business.

2.2.1.6 Transition plan for UNIQA’s real estate and vehicle fleet

The goal in this regard is to achieve net-zero emissions for owner-occupied properties held by UNIQA, for investment properties and for the vehicle fleet in Austria by 2040 and in the other countries in which UNIQA operates by 2050. The Paris Agreement forms the basis for the sustainable management of the real estate portfolio. As part of the Science Based Targets Initiative (SBTi), UNIQA has therefore committed to an interim target that has been successfully validated. This reduction pathway aligns with the 1.5°C global warming limit target pursuant to the SBTi.

UNIQA’s primary decarbonisation levers in relation to owner-occupied properties and investment properties are its use of renewable energy, transitioning to sustainable heating systems such as heat pumps, district heating or biomass heating, expanding the use of certified green electricity and increasing energy efficiency. Electrification of the vehicle fleet constitutes another lever in terms of operational ecology.

For several years now, the decarbonisation of real estate has been actively promoted through thermal and structural renovation, energy monitoring, optimising heating, air-conditioning and ventilation systems, and transitioning to sustainable lighting and cooling. The experience gained and lessons learned from measures implemented to date will provide the basis for the future implementation of ESG-related actions.

The real estate portfolio consists of various asset classes within the real estate sector and ranges from traditional Viennese apartment blocks to premium office properties. The types of heating systems used in these buildings also vary. The relevant share of sustainable heating systems such as district heating and heat pumps is to be continuously increased, while the share of oil and gas heating is to be reduced.

UNIQA also relies on e-mobility as the central decarbonisation lever, with the aim of transitioning to an entirely electric vehicle fleet in Austria by 2030 and Group-wide by 2040. The interim target is for 20 per cent of the international vehicle fleet to be electric by 2030.

Progress on the implementation of the transition plan for properties and vehicles as well as the actions taken are described in detail in the sub-sections on climate-related topics in relation to real estate and operational ecology.

2.2.2 Gross Scopes 1, 2, 3 and Total GHG emissions (E1-6)

The following table provides an overview of the GHG emissions directly or indirectly attributable to UNIQA’s economic activities. It covers emissions from various sources and activities within the company. The emissions are broken down into Scope 1, Scope 2 and Scope 3 categories and are based on specific sources and calculation methodologies.

Scope 1 and 2 emissions: Includes emissions from owner-occupied and downstream leased properties and the vehicle fleet. Scope 2 emissions are reported using a market-based and location-based method. UNIQA is not covered by regulated emissions trading schemes. An SBTi-validated interim climate target has been set for Scope 1 and Scope 2 emissions from owner-occupied properties and the vehicle fleet. It calls for a 42 per cent reduction in emissions by 2030 compared with 2021.

Scope 3 emissions: Includes financed emissions from investments in corporations and government bonds (Category 15) in accordance with Part A of the PCAF Standard. UNIQA has not defined any interim targets for financed emissions. However, comprehensive targets including SBTi-validated targets for investments are presented in the sub-section on climate-related topics in investment. Other Scope 3 categories according to the GHG protocol have been analysed and classified as not material on the basis of their extent. UNIQA continually monitors the materiality of additional Scope 3 categories. In addition to the emissions in Scope 3.15, UNIQA also reports on insurance-associated emissions from the corporate business and vehicle-related emissions for the retail business in accordance with Part C of the PCAF Standard. These emissions are not presented in the table but instead reported in the sub-sections on climate-related topics in the corporate business and retail business.

The pro rata emissions arising from UNIQA’s holding in STRABAG SE accounted for in accordance with the equity method are reported within the scope of the financed emissions (Scope 3.15) and within the corresponding targets.

The prior-year figures for financed emissions from investments in companies as well as the total energy consumption of the properties have been recalculated and restated. Details can be found in the sections Climate change in investment and Climate change in real estate and operational ecology.

The share of Scope 3 GHG emissions calculated on the basis of primary data is 74.5 per cent (2024 restated: 36.2 per cent; 2024 published: 44.1 per cent).

Scope 1 biogenic emissions from the combustion or biological degradation of biomass are as follows: 297 tonnes of CO₂ (2024 restated: 194 tonnes of CO₂; 2024 published: 110 tonnes of CO₂). Scope 2 biogenic emissions (market and location-based) came to 14,895 tonnes of CO₂ (2024 restated: 14,774 tonnes of CO₂; 2024 published: 17,725 tonnes of CO₂). Owing to the limited availability of data, reported Scope 2 GHG emissions of biogenic CO₂ accounted for using the location-based method are the same as the emissions accounted for using the market-based method. Due to limited data availability, Scope 3 biogenic emissions could not be calculated and reported.

The detailed calculation methodologies and assumptions, scope and specific sources of emission factors are discussed in the relevant sub-sections.

The premiums written were used as a benchmark for net revenue when calculating the GHG intensity for net revenue. The premiums written are specified in the Performance section of the “UNIQA Group key figures” table in the “Group business development” section.

2.3 Climate change in investment

2.3.1 Material impacts, risks and opportunities and their interaction with strategy and business model (ESRS 2 SBM-3)

UNIQA has identified several material impacts and risks associated with investments with regard to climate change adaptation. Material negative impacts arise from UNIQA failing to sufficiently leverage its position as a provider of capital to support the achievement of sustainability targets and the implementation of sustainable strategies. This may result in companies having little incentive to take effective action with regard to climate change adaptation. The transition to a more sustainable economy could also reduce investor willingness to invest in certain companies, potentially undermining their corporate value. UNIQA’s assets, liabilities, financial position and profit or loss could be adversely affected as a result, with the worst-case scenario potentially leading to stranded assets. Companies that operate in carbon-intensive and energy-intensive sectors are most likely to be affected by these negative impacts. Likewise, companies with business models closely intertwined with the production or processing of fossil fuels face significant challenges. UNIQA addresses these climate-related transition risks with a number of different policies and actions designed to both significantly reduce the impacts of GHG emissions and minimise the financial risk for UNIQA. The company has therefore adopted a proactive and sustainable approach to addressing both environmental and economic challenges.

2.3.2 Policies related to climate change mitigation and adaptation (E1-2)

The UNIQA Group Responsible Investment Guideline governs the requirements applicable to sustainable investments. The guideline sets out the general conditions governing sustainable investment for direct investments in companies and governments as well as in public third-party funds. Ultimate responsibility for implementing the strategies described below lies with the Head of Asset Management.

Decarbonisation strategy and nuclear energy with regard to investments

According to the decarbonisation strategy, UNIQA aims to phase out coal and crude oil by 2030 at the latest, and natural gas and nuclear energy by 2035 at the latest, and to continually reduce the weighted average carbon emission intensity (WACI) of investments. Reducing the carbon footprint of the investment portfolio is intended to further support the path to decarbonisation. Both the WACI and the carbon footprint decarbonisation targets adhere to the NZAOA mitigation path recommendations based on the assessment of the 1.5°C no/limited overshoot scenario set forth by the Intergovernmental Panel on Climate Change (IPCC) and accordingly also align with the Paris Agreement. By adopting this strategy, UNIQA aims to significantly reduce emissions intensity and exposure to fossil fuels and nuclear energy. The regulated phase-out of fossil fuels will reduce the risk of stranded assets and thereby help to preserve the value of investments.

The decarbonisation strategy comprises the following milestones:

Coal

• Roll-out of coal exclusion criteria since 2019

• Since April 2022, no investments in third-party investment funds that hold positions in any company whose involvement in thermal coal mining exceeds 10 per cent of its revenue

• Since 2025, no direct investments or financing of companies or projects that generate more than 5 per cent of revenue from activities in the coal sector, including coal production (extraction), processing and electricity generation. In addition, a separate revenue threshold of 5 per cent applies to the generation of heat from coal.

Oil

• Since 2023, no direct investments or financing of new unconventional oil projects (shale oil, oil sands and Arctic oil) involving activities in the oil sector, including oil production (extraction), processing, energy (power and heat) generation

• Since 2025, no new direct investments in or provision of new financing to conventional projects or companies that generate more than 30 per cent of revenue from activities in the oil sector, including oil production (extraction), processing and electricity generation. In addition, a separate revenue threshold of 30 per cent applies to the generation of heat from crude oil.

• By the end of 2030, UNIQA will have phased out all direct investments in companies and projects that generate more than 5 per cent of revenue from activities in the oil sector, including oil production (extraction), processing and energy (power and heat) generation.

• Issuers with SBTi-certified climate reduction targets are exempt.

Natural gas

• As of 2026, UNIQA will not make new direct investments in or provide new financing to natural gas projects or for companies that generate more than 30 per cent of their revenue from activities in the natural gas sector, including gas production (extraction), processing and electricity generation. In addition, a separate revenue threshold of 30 per cent applies to the generation of heat from gas.

• By the end of 2035, UNIQA will have phased out all direct investments in companies and projects that generate more than 5 per cent of their revenue from activities in the natural gas sector, including gas production (extraction), processing and energy (power and heat) generation.

• Exceptions apply to companies with SBTi-certified targets or full taxonomy alignment from revenue or CapEx. Projects are exempt if they show full taxonomy alignment from revenue or CapEx.

Nuclear energy

• Since 2025, no new direct investments in or provision of new financing for new projects in the energy sector that use nuclear fission to expand nuclear power infrastructure.

• By the end of 2035, UNIQA will have phased out all direct investments in companies that generate more than 5 per cent of their revenue from activities in the energy sector that use nuclear fission and from all projects whose purpose is to produce energy from nuclear fission.

• Exceptions are granted for companies with SBTi certified targets in place or companies that conduct fully EU Taxonomy-aligned activities in terms of revenue and CapEx. Projects are exempt if they show full taxonomy alignment from revenue or CapEx.

Engagement strategy

As stipulated in the UNIQA Group Responsible Investment Guideline, the engagement strategy at UNIQA incorporates both proactive and reactive engagement.

Proactive engagement involves direct bilateral engagement with individual investee companies. Bilateral discussions are held with ESG managers at the respective companies to achieve progress on their specific targets.

The aim behind bilateral engagement is to support and assist these companies in significantly reducing their emissions, exercising more sustainable business practices and increasing their transparency through disclosures. This strategy is based on the conviction that targeted actions at the companies with the highest GHG emissions will have the greatest positive impact on UNIQA’s climate targets.

As part of this engagement, the company is focusing on the following areas to promote climate change mitigation:

• Implementation of a governance framework that defines climate risk responsibilities and supervisory duties

• Taking action to reduce GHG emissions across the entire value chain in line with the targets set forth in the Paris Agreement and to set SBTi-validated targets, if not already in place

• Transparent disclosures to demonstrate the resilience of the corporate strategy in various climate scenarios

Reactive engagement refers to the collaborative engagement that UNIQA pursues as part of its membership in the Climate Action 100+ (CA 100+) investor initiative. As part of the initiative, a group of international investors reach out to the world’s 169 largest corporate greenhouse gas emitters to align their climate strategy and reporting with science-based climate targets.

ISS enables investors to engage with companies that commit serious and structural violations of normative criteria in the fields of corporate governance, human and labour rights, the environment, or bribery and corruption, or fail to take measures to adequately respond to these violations and to take countermeasures with engagement based on standards. Corresponding violations include, in particular, violations of the principles of the UN Global Compact (UNGC) and of the Organisation for Economic Co-operation and Development (OECD) Guidelines for Multinational Enterprises.

Strategy for sustainable investments

UNIQA finances companies that make a contribution to reducing emissions or to social projects. The sustainability classifications of green, social and sustainability bonds according to International Capital Market Association (ICMA) principles are applied in this regard. Funds classified as Article 9 funds under the EU Sustainable Finance Disclosure Regulation (SFDR) are also included in the list of sustainable investments. Article 9 funds constitute investments that pursue a sustainability objective as defined by SFDR. Investments are also made in infrastructure projects, such as renewable energy projects, that positively contribute to at least one Sustainable Development Goal (SDG) without adversely affecting other goals. The Sustainable Investment Strategy is set out in the UNIQA Group Responsible Investment Standard. Sustainable investments are reviewed by the Risk Management team on a regular basis. Sustainable investments contribute to climate change adaptation, in particular by supporting infrastructure projects in the renewable energy segment. Sustainable investments are not assessed based on their emissions, but rather according to their transformation potential.

Governance

The Responsible Investment Steering Committee reviews implementation of the Group Responsible Investment Guideline at least once a year. Chaired by the Head of Asset Management, the committee is made up of the heads of Group Asset Management, representatives from the Asset Management and Portfolio Management ESG teams and representatives from the Group ESG Office. The committee is informed about the status of ESG activities in annual reports. Information on recent developments and progress is also shared at in-house meetings with the Head of Asset Management. The Asset Management ESG team maintains an ongoing dialogue with the Group ESG Office, which coordinates the overarching sustainability strategy.

2.3.3 Actions and resources in relation to climate change policies (E1-3)

Targeted decarbonisation, commitments, risk assessments and sustainable investments help to promote a climate-friendly transformation and strengthen the portfolio’s ESG performance. The following section explores the specific measures taken by UNIQA to actively contribute to reducing emissions in relation to investments.

Decarbonisation

Current direct investment volumes and financed emissions in the following activities in the coal, oil and natural gas sectors that exceed the respective revenue thresholds are summarised in the list below:

• €2.1 million (2024: €8.1 million) and 10,854 t CO₂e (2024: 84,446 t CO₂e) in companies that generate >5 per cent of their revenue from activities in the coal sector (production, processing, power and heat generation)

• €61.8 million (2024: €88.0 million) and 261,027 t CO₂e (2024: 385,861 t CO₂e) in companies that generate >30 per cent of their revenue from activities in the crude oil sector (production, processing, power and heat generation)

• €34.1 million (2024: €55.0 million) and 60,210 t CO₂e (2024: 107,166 t CO₂e) in companies that generate >30 per cent of their revenue from activities in the natural gas sector (production, processing, power and heat generation)

• No exposure to companies that generate >30 per cent of their revenue from exploration for all fossil energy sources (coal, oil, natural gas)

Due to improved data quality controls, an error was identified in the prior-year figures for direct investment volumes in companies that generate >30 per cent of their revenue from activities in the crude oil sector (production, processing, power and heat generation). The prior-year figure was therefore recalculated and restated from €80.4 million to €88.0 million.

Exposure to companies operating in the coal, oil or gas sectors is determined using ESG data from ISS, supplemented by manual checks based on the relevant NACE codes and validated against disclosures by companies as well as Urgewald’s Global Coal Exit List and Global Oil & Gas Exit List.

The decline in the value of investments in coal, oil and natural gas companies compared with the previous year is mainly attributable to positions that have been sold or matured. In addition, no new investments were made in fossil fuel companies in 2025.

Carbon footprint

UNIQA introduced a new metric in the financial year to monitor the CO₂e impact of its investment portfolio. The carbon footprint metric measures the Scope 1 and Scope 2 emissions produced by the companies in which UNIQA invests, per million euro invested, and is similar to the WACI, an emissions intensity metric.

Engagement activities

As part of this commitment, decarbonisation efforts are promoted through an active dialogue maintained with the companies. Aspirations to work together with companies complement efforts to manage impacts on climate change mitigation and climate change adaptation.

All bilateral engagement to date has been positive, not resulting in the need for any escalation measures in line with the engagement strategy due to a lack of willingness to cooperate on the part of the companies.

In line with the proactive bilateral engagement strategy, UNIQA reached out to three companies in the financial year (2024: two companies) selected on the basis of their high share of UNIQA’s financed emissions to obtain an initial overview of climate-related targets, actions and policies pursued by engagement partners. Together, these three companies (2024: two companies) represent 52.5 per cent (2024: 39.3 per cent) of UNIQA’s financed emissions. Bilateral engagements involve processes that span several years. The focus of these commitments is on encouraging the companies in which UNIQA invests to take meaningful action to reduce GHG emissions across their entire value chains in line with the goals of the Paris Agreement. This includes encouraging companies to set science-based targets (SBTi), if they have not already done so, as part of the UNIQA Group’s comprehensive climate strategy. To support these efforts, UNIQA also promotes improvements in climate governance and transparency.

As a member of CA 100+, UNIQA has been participating in a collaborative engagement case with an energy producer since 2023. The engagement, which focuses on promoting the company’s decarbonisation measures, is a process that will last for several years. However, due to internal restructuring within the target company and changes at the lead engagement companies, no engagement activities took place in the financial year. This engagement is expected to continue in the following year.

Together with ISS, UNIQA was involved in nine standards-based engagements in the financial year (2024: ten). The engagements in question involved one incident of governance violations (2024: none), three incidents of social violations (2024: eight) and five incidents of environmental violations (2024: two). In seven (2024: eight) out of nine cases (2024: ten), actions have already been taken or commitments made by the companies concerned to remedy the violation. In the other two cases (2024: two), ISS is in contact with the companies to obtain further information regarding any actions taken or commitments made to remedy the situation.

Planned decarbonisation strategy actions

SBTi targets: In the pursuit of achieving SBTi targets, UNIQA plans to invest in companies validated by the SBTi and engage with companies in its portfolio to encourage them to establish their own SBTi targets. Continuation of the fossil fuel phase-out strategy and limiting companies with high GHG emissions will further help to achieve the targets.

Portfolio decarbonisation: Further aligning the portfolio with the commitments arising from UNIQA’s memberships will ensure that the ESG quality of the Group’s investments improves on a continuous basis. Decarbonisation and engagement measures are to be continued in subsequent years in line with the SBTi. In accordance with the decarbonisation strategy, emissions will remain the main focus of the sustainability analysis going forward.

The actions set out in the decarbonisation strategy include both direct and indirect investments in companies that operate in the coal, oil, natural gas and nuclear energy sectors.

Planned actions for the engagement strategy

Engagement activities in the financial year yielded positive results: the target companies either already set GHG emissions reduction targets or are in the process of setting corresponding targets. In addition, these companies showed transparency in their climate-related disclosures. Looking ahead, engagement efforts will increasingly focus on implementing action plans to achieve these targets, as well as on strengthening the climate governance framework where relevant.

Planned actions for sustainable investments

The initial target of building up a sustainable investment volume of €2 billion by 2025 was first achieved in 2023. A volume of €2 billion is to be maintained in 2026.

2.3.4 Targets related to climate change mitigation and adaptation (E1-4)

Targets related to the decarbonisation strategy

SBTi targets for the investment portfolio

With regard to the decarbonisation strategy, the SBTi targets focus on reducing emissions intensity, promoting renewable energy and investing in companies validated by the SBTi.

UNIQA has set interim targets in four asset classes for investments validated by the SBTi and that comply with the 1.5°C limit climate pathway.

In the base year of 2021, SBTi interim targets covered 23 per cent of investments. These relate to the activities required according to SBTi guidance. The remaining portion of the investments comprised 19 per cent of optional activities and 58 per cent of activities outside the scope of the SBTi guidance. Investments allocated to the unit-linked and index-linked life insurance business were excluded from the target setting process, as UNIQA has limited influence on the selection of investments.

The SBTi target for listed shares and corporate bonds measures the percentage of investments in companies with validated SBTi targets. This asset class makes up the largest share of UNIQA’s SBTi target scope and represents approximately 98.6 per cent of the invested volume. The share of companies with validated SBTi targets declined from 23 per cent in the base year to 21.7 per cent in the financial year. However, the share of companies that have committed to setting SBTi targets increased to 29.2 per cent, indicating that the share of companies with validated SBTi targets is expected to reach 50.9 per cent by 2027. Accordingly, UNIQA remains on track to meet its SBTi target for this asset class.

A similar approach has been taken for corporate loans, where the share of companies with validated SBTi targets declined from 3 per cent in the base year to 0.0 per cent in the financial year. This decrease is mainly due to the maturity of the emitters that had previously set corresponding targets and have since been removed from the portfolio. As this asset class represents only 0.01 per cent of UNIQA’s total asset portfolio and comprises only a few high climate impact companies, it is not front and centre of UNIQA’s decarbonisation efforts and it is unlikely that the SBTi target for this segment will be achieved in full.

The target for project financing for electricity generation comprises two wind projects and one gas project. Compared with the base year, financed emissions per megawatt hour generated have fallen by 84.4 per cent, mainly due to lower exposure to the gas project compared with the wind projects and to lower electricity generation from the gas project.

The metric applied for the SBTi target for the “project financing for electricity generation” asset class is the emissions intensity stemming from electricity generation for the funded projects (tonnes of CO₂e per megawatt hour generated). The emission factor applied to calculate the financed emissions is obtained from the German Federal Environment Agency (UBA) for wind projects and from the IPCC for the gas project.

Data on the energy generated is obtained directly from the companies concerned. The assets covered by each target category are reviewed on a regular basis. In line with the SBTi framework, the targets are renewed at five-year intervals.

Targets for weighted average carbon intensity

Portfolio decarbonisation is focused on emissions stemming from investments in companies. The GHG emissions arising from these investments are calculated on the basis of the weighted average carbon emission intensity (WACI). The WACI is used to manage the portfolio according to the companies’ emissions efficiency. If the WACI contribution of a certain investment would result in the portfolio WACI limit being exceeded, the investment in question is not pursued.

Direct investments in equities, collateralised and uncollateralised fixed-income securities, cash and derivatives are taken into account when calculating the WACI. Positions with data sourced on the basis of sector averages or a PCAF data quality score of 5 are excluded from the calculation due to the low data quality. In the financial year, 86.0 per cent of the investment volume of the relevant asset classes was covered by the WACI.

Development of the WACI metric is monitored by Risk Management using a limit system.

Current targets for the WACI metric were set on the basis of the requirements of the Net-Zero Asset Owner Alliance.

For companies, this metric is calculated as the sum of Scope 1 and Scope 2 emissions relative to the company’s revenue, weighted by the investment volume. A breakdown by Scope 1 and Scope 2 emissions is not carried out. The data is sourced from ISS and is largely based on data reported by the respective emitters. Emissions data not reported by companies is estimated by ISS. For this, ISS compares non-reporting companies with similar reporting companies from the same sub-sector, which subsequently serve as benchmarks. In a second step, a statistical regression analysis is performed at sub-sector level in order to determine various financial indicators that are used as estimates for the emissions data.

The companies’ Scope 3 emissions are tracked but not included in the metric. At present, Scope 3 emissions are considered to be only of limited informative value owing to the fact that the data is not always plausible and fully disclosed. This was likewise affirmed by the Net-Zero Asset Owner Alliance, which has issued guidelines for setting targets for Scope 1 and Scope 2 emissions, while Scope 3 emissions are intended primarily for disclosure purposes.

In the financial year, the WACI metric fell by 57.5 per cent compared with the base year due to reduced Scope 1 and Scope 2 GHG emissions as well as rising revenue.

As both the WACI target pathway and the SBTi targets are subject to regular updates, any further changes to the Net-Zero Asset Owner Alliance and SBTi methodologies are applied when the targets are updated. Regulatory changes are likewise taken into account when the targets are updated.

Targets related to the carbon footprint

In 2025, UNIQA set itself a new target with its carbon footprint metric, which also forms part of the Management Board’s long-term incentive (LTI). In 2030, the target is a maximum of 52 tCO₂e per € million invested.

The carbon footprint is calculated by dividing the Scope 1 and Scope 2 GHG emissions of the investee companies by their enterprise value in cash (EVIC) and then multiplying the result by the volume invested per position. The resulting financed GHG emissions per position are then totalled across all positions within the scope and divided by the total investment volume for the relevant scope.

Direct investments in listed equities and corporate bonds that fall under the PCAF methodology for calculating financed emissions are taken into account when calculating the carbon footprint. Positions with data sourced on the basis of sector averages or a PCAF data quality score of 5 are excluded from the calculation due to the low data quality. In the financial year, 94.8 per cent of the investment volume for the relevant asset classes was covered by the carbon footprint. Similarly to the WACI, the emissions data used in the calculation is sourced from ISS. Data on the enterprise value including cash (EVIC), which is used when calculating the metric, is also obtained from ISS. While the WACI calculates the GHG emissions of the portfolio companies in relation to their revenue, thereby indicating the CO₂e efficiency of their business activities, the carbon footprint reflects UNIQA’s actual exposure to financed GHG emissions by measuring the GHG emissions per unit of capital invested in the relevant portfolio.

As of the reporting date, the carbon footprint amounts to 46 tCO₂e/€ million invested, which represents a 54.0 per cent reduction compared with the value in the base year (100 tCO₂e/€ million invested). This reduction is due to lower Scope 1 and Scope 2 GHG emissions as well as to higher corporate values in 2025 compared with the base year.

Targets related to the engagement strategy

As things currently stand, no specific targets have been established for the engagement metrics. In keeping with its membership in the Net-Zero Asset Owner Alliance, UNIQA’s bilateral engagements will focus on the companies that together account for 65 per cent of Scope 1 and Scope 2 financed emissions up to 2027.

Targets for sustainable investments

UNIQA finances companies that make a contribution to reducing emissions or to social projects through its sustainable investments. As a member of the Net-Zero Asset Owner Alliance, UNIQA has set itself the target of allocating €2 billion to sustainable investments by 2025. In the financial year, the value of sustainable investments was €2.5 billion (2024: €2.4 billion). UNIQA has therefore achieved its target. As a result, the share of sustainable investments in the overall portfolio amounts to 11.1 per cent (2024: 11.0 per cent). The volume and composition of sustainable investments are reviewed on a monthly basis by Risk Management.

Sustainable investments comprise:

• 80.4 per cent (2024: 78.1 per cent) green bonds

• 8.4 per cent (2024: 7.3 per cent) social bonds

• 5.1 per cent (2024: 5.0 per cent) sustainability bonds

• 1.8 per cent (2024: 5.0 per cent) Article 9 funds according to the EU Disclosure Regulation (SFDR)

• 4.4 per cent (2024: 4.7 per cent) sustainable infrastructure projects and technologies (wind power projects, social facilities)

The goal for 2026 is to maintain a volume of €2 billion.

2.3.5 Gross Scopes 1, 2, 3 and Total GHG emissions (E1-6)

Category 3.15 financed emissions provide an indication of the GHG emissions financed through corporate and government investments. These metrics give UNIQA the ability to manage the impacts of climate change and to control climate change adaptation.

Absolute financed emissions from investments in companies (Scope 3.15)

Absolute financed emissions for companies are calculated by multiplying the holding in a company by the Scope 1, Scope 2 and Scope 3 emissions it produces per € million of enterprise value including cash (EVIC). Financed emissions include Scope 1, Scope 2 and Scope 3 emissions produced by the investee companies. The methodology for designated asset classes (use of proceeds structures), introduced in the third version of the PCAF standard in December 2025, will also be implemented in the future, subject to data quality and technical feasibility. UNIQA became a signatory to the Partnership for Carbon Accounting Financials (PCAF) in 2025. PCAF provides standardised methodologies for climate-specific accounting for asset classes and provides average sector-level emission factors that are applied to portfolio positions for which emissions data is not available from ISS. As a result, UNIQA has achieved 100 per cent GHG emissions coverage for its direct investments in asset classes for which a PCAF methodology exists, including listed shares, corporate bonds, corporate loans, project financing and government bonds. To calculate financed emissions, UNIQA applies the second version of the PCAF Standard and intends to include the newly introduced PCAF asset classes, including sub-national and securitised asset classes, in future reporting periods, once ESRSs require the application of the third version of the PCAF Standard. In line with PCAF, the prior-year figures for the absolute financed ´emissions from investments in companies, the volume invested and the PCAF data quality score were recalculated and restated using average emission factors. The prior-year figure for GHG emissions coverage was therefore restated from 82.3 to 100 per cent. Relative to the total assets managed by UNIQA, which also include asset classes without an applicable PCAF methodology, the current GHG emissions coverage is 59.5 per cent (2024 restated: 58.6 per cent). Coverage for the previous year was recalculated and restated from 52.0 to 58.6 per cent.

To ensure the accuracy of the ESG data, UNIQA conducts plausibility checks of ESG indicators. These checks are performed using a variety of methodologies, for example, sum checks of Scope 1, Scope 2, and Scope 3 GHG emissions and by reviewing the data of the ten companies with the highest exposure in which investments are made.

The checked indicators are compared with the values from ISS and the values reported by the companies. Where discrepancies occur, UNIQA assesses the plausibility of the data and, where necessary, updates it directly or contacts ISS to investigate if further clarification is needed.

The absolute financed emissions are subject to the Group-wide target of achieving net-zero emissions by 2050. In the financial year, financed Scope 1, Scope 2 and Scope 3 emissions from investments in companies resulted in 3,880,569 tonnes of CO₂e (2024 restated: 4,274,283 tonnes of CO₂e). The volume invested amounted to €6,109.2 million (2024 restated: €5,556.8 million). Financed emissions from investments in companies and the volume invested were recalculated for the previous year and restated from 4,520,772 to 4,274,283 tonnes of CO₂e and from €5,929.3 million to €5,556.8 million.

This year-on-year decline is due to a marginal decline in absolute GHG emissions. The main reason behind the overall reduction is the increase in the enterprise values including cash (EVIC), which resulted in a decline in financed emissions.

The investment value and coverage increased due to higher valuations of the companies in the portfolio. At the same time, GHG emissions from companies in which investments were made fell, and exposure to companies in the fossil fuels sector was reduced further.

Compared to the financed emissions published in 2024, individual asset classes previously included in the calculation but not covered by PCAF Standard Version 2 were excluded from the recalculation of financed emissions for 2024 and the calculation for 2025. As soon as UNIQA applies the new Version 3 of the PCAF Standard, the individual asset classes covered by this version will be included in the calculation.

The following table provides a breakdown of financed emissions (Scope 1 and 2) according to the NACE code (statistical classification of economic activities in the European Community) for the financial year. The weighted average PCAF data quality score for the entire portfolio is 1.5 (2024 restated: 1.8). The PCAF data quality score for the previous year was recalculated and restated from 1.4 to 1.8. The PCAF data quality score is a measurement framework for assessing the quality of data used to measure and report GHG emissions in financial portfolios. The data quality score ranges from 1 (the highest quality level) to 5 (the lowest quality level). The PCAF data quality score is based on the availability and accuracy of the data used to calculate emissions, with lower data quality scores assigned to direct, verifiable data and higher-value data quality scores assigned to estimates or inaccurate data. The PCAF data quality score is provided by ISS, weighted according to the financed volume and aggregated at the NACE code level. The change in the PCAF data quality score compared with the previous year is due to the use of the average emission factors per sector provided by PCAF.

As a result of the use of the average emission factors per sector, the PCAF data quality score covers 100 per cent of UNIQA’s financed GHG emissions.

Absolute financed emissions from government bonds (Scope 3.15)

Financed emissions from investments in government bonds cover the Scope 1, Scope 2, and Scope 3 emissions produced by the countries in question. Scope 1 emissions represent GHG emissions resulting from production processes within national boundaries. While Scope 2 emissions are generated by importing energy from beyond national boundaries, Scope 3 emissions come from all other non-energy imports from beyond national boundaries. The data for Scope 1 emissions from countries that report corresponding figures on an annual basis is sourced from ISS under the United Nations Framework Convention on Climate Change (UNFCCC). Emissions data from countries that do not disclose corresponding figures on an annual basis are estimated by ISS on the basis of climate-relevant data published by research institutes, state authorities and international organisations.

ISS obtains Scope 2 and Scope 3 emissions data from OECD data on GHG emissions related to international trade. Sixty-four countries have reported emissions data on this basis. The OECD allocates 137 countries to the “Rest of the World” category. ISS allocates the GHG emissions from this category to individual countries on the basis of macroeconomic metrics.

The data covers 100 per cent (2024: 99.2 per cent) of direct investments in government bonds. In accordance with the PCAF methodology, UNIQA’s financed emissions are calculated on the basis of the value of the respective government bond, divided by GDP adjusted for inflation, multiplied by the sum of Scope 1, Scope 2 and Scope 3 emissions produced by the country in question.

During the financial year, financed emissions from investment in government bonds amounted to 2,046,441 tonnes of CO₂e (2024: 1,924,006 tonnes of CO₂e). The volume invested amounted to €7,474.5 million (2024: €7,105.6 million).

The year-on-year increase in GHG emissions stems from higher investment volumes in government bonds and rising Scope 3 GHG emissions, especially in EU countries.

2.4 Climate change in corporate business

2.4.1 Material impacts, risks and opportunities and their interaction with strategy and business model (ESRS 2 SBM-3)

The materiality assessment identified several material impacts and risks linked to climate change related to corporate business. By offering sustainable products and product components as well as advisory services that enable customers to reduce the level of risk to which they are exposed due to the impacts of climate change, UNIQA secures a financial opportunity while insurance customers benefit from positive impacts. Conversely, a lack of control metrics, strategies, policies and action plans together with an associated lack of engagement on the part of UNIQA can reduce the willingness of corporate customers to address negative impacts with regard to climate change adaptation and mitigation. Climate change also constitutes a core physical risk for UNIQA itself, as it increases the frequency and intensity of natural disasters such as floods, hail, storms or extreme temperatures. If they were to occur, these events could result in losses to insurance customers that are yet to be covered under current insurance premiums.

2.4.2 Policies related to climate change mitigation and adaptation (E1-2)

Requirements related to sustainability in the corporate insurance business are centrally governed by the UNIQA Corporate Business Strategy. The Chief Corporate & Affinity Officer is responsible for implementing the corresponding requirements.

The sustainability strategy comprises three key pillars:

• Strengthening customer resilience to climate-related risks

• Decarbonisation of the insurance portfolio

• Development of new sustainability products and product components

2.4.2.1 Strengthening customer resilience to climate-related risks

UNIQA is committed to taking on an active role in helping customers strengthen their financial resilience and managing the impacts of climate change adaptation.

Advice and prevention: UNIQA advises companies on how to strengthen their resilience to the risks arising from climate change. First aid measures are provided to this end, whereby policyholders are given access to advisory services to mitigate losses in the event of severe weather events. Preventive actions to avert climate-related risks are also prepared and offered.

Improving competency and quality: UNIQA aims to improve the ability of its customers to address climate risks, to improve the quality of standard risk resilience measures and to offer comprehensive advice to meet growing demand for coverage of emerging climate risks among companies.

UNIQA Sustainable Business Solutions: As part of its sustainability strategy, UNIQA actively helps its customers to better prepare for the impacts of climate change. Since 2024, UNIQA Sustainable Business Solutions has offered services such as climate risk analyses, which enable a thorough assessment of individual potential risks. In addition, reports are being prepared for small and medium-sized enterprises applying the EFRAG Voluntary Standard for SMEs, which facilitates structured, practical sustainability reporting. Work is also already underway on other sustainability and risk management services. These services help to increase customers’ resilience to climate-related risks and promote their sustainable transformation.

2.4.2.2 Decarbonisation strategy and nuclear energy for the insurance business

In 2023, decarbonisation targets were published and the following actions defined with the goal of achieving net-zero emissions:

Fossil fuel phase-out

The first steps towards decarbonisation were taken back in 2019 with UNIQA’s commitment not to enter into new business with customers that engage in coal-related activities. As a member of the Green Finance Alliance (GFA), UNIQA has published a schedule for the phase-out of its activities in the coal, oil and gas sectors. Since then, premiums from the fossil fuel business and the decarbonisation status of the affected customers have been reported on an annual basis. The phase-out of fossil fuels in the insurance business involves the following key elements:

Coal

• Since 2019, no new insurance contracts with companies that generate more than 30 per cent of their revenue from activities in the coal sector (exploration, processing/production, distribution, power and heat generation)

• Since 2023, no new business with companies that generate more than 5 per cent of their revenue from activities in the coal sector

• By 2030, all portfolio items with companies that generate more than 5 per cent of their revenue from activities in the coal sector will expire

Oil

• Since 2024, no new insurance contracts with companies that generate more than 30 per cent of their revenue from activities in the oil sector (exploration, processing/production, distribution, power and heat generation)

• By 2030, all portfolio items with companies that generate more than 5 per cent of their revenue from activities in the oil sector will expire

Natural gas

• Since 2025, no new insurance contracts with companies that generate more than 30 per cent of their revenue from activities in the natural gas sector (exploration, production, processing, distribution, power and heat generation)

• By 2035, all portfolio items with companies that generate more than 5 per cent of their revenue from activities in the natural gas sector will expire

• In deviation from the gas phase-out stipulated in the decarbonisation strategy, in the financial year UNIQA made a temporary exception for the territory of Ukraine and offered new insurance coverage for small-scale gas-fired power plants in light of the ongoing war and the energy infrastructure that has been severely affected as a result

Companies that have made a public commitment to the decarbonisation of their core business in accordance with the Paris Agreement are exempt from the phase-out of fossil fuels.

Nuclear energy

UNIQA does not insure nuclear energy risks either directly or through reinsurance.

Expansion of the renewable energy business

Decarbonising energy supplies plays a crucial role in limiting global warming in line with the targets set forth in the Paris Agreement. UNIQA is therefore working on renewable energy insurance solutions to support this growing sector.

The premium volume in the renewable energy segment is growing year after year. Renewable energy premiums are categorised as follows:

• Premiums from companies whose main economic activity is generating power from renewable energy sources (solar energy, wind, biomass, hydropower, geothermal energy)

• Premiums for insured renewable energy installations owned by companies that primarily engage in other economic activities (photovoltaic installations, hydropower plants, biomass power plants)

Engagement with companies with the highest share of emissions in the portfolio

A portfolio analysis of insurance-associated emissions revealed that CO₂ emissions are broadly spread across the entire portfolio. However, the biggest emitters were found to be large industrial companies. In response, a new objective was formulated, according to which the top 10 emitters in each market would be required to undergo an in-depth analysis. As of 2024, in each country where UNIQA operates and where insurance-associated emissions are calculated, the top ten CO₂ emitters in the portfolio are evaluated with regard to whether they have a climate strategy in place and pursue targets in line with the targets set forth in the Paris Agreement. This metric supports UNIQA’s net-zero emissions target and provides greater insight into how the specific customer structure in each market – especially in the high-emission sectors – can be used to work towards the decarbonisation goal for the portfolio. Examples of carbon-intensive sectors include heavy industry, energy and transport.

Specific definitions and timetables have been published in the decarbonisation statement. The declining absolute premiums for fossil fuel companies and their declining share in insurance premiums underscore the achievement of the targets set and confirm the steady trend toward portfolio decarbonisation.

2.4.2.3 Development of sustainability products and product components

UNIQA is pushing ahead with the development of innovative sustainability products and components in response to increasing market requirements and growing demand for environmentally friendly solutions. This strategy also encompasses the development of new business lines through which customers are supported in reducing negative impacts related to climate change mitigation, climate change adaptation and energy consumption.

UNIQA also promotes a sustainable recovery from loss events through specific new solutions and product components. In the financial year, for example, the Green Clause product component was offered, on the basis of which the additional costs for the ecological restoration of damaged properties will also be borne in the event of a claim.

2.4.3 Actions and resources in relation to climate change policies (E1-3)

A key step in measures taken in the corporate business in the financial year involved the further development of the advisory services launched in 2024 as part of UNIQA Sustainable Business Solutions, which now include a significantly expanded range of expertise. In addition, the calculation of the insurance-associated GHG emissions and metrics for business with customers that are active in the fossil fuel or renewable energy sectors has been expanded to include all non-life insurance business and has been calculated and restated retrospectively for the previous year. The financial year also marked the first target year for the GHG emissions reduction targets (base year 2022), thereby making it possible to compare target attainment. The implementation of an ESG standard in underwriting has standardised the process for assessing enquiries in the fossil fuel sector. At the same time, UNIQA will continue to focus on solutions and partnerships for insuring renewable energies characterised by robust products and reliable partnerships.

One of the main focuses in 2025 was the ESG guideline, which had already been implemented in the retail business and was expanded for the standardised corporate business as of 1 January 2026. Workshops were also held on sustainability market research.

As of 1 January 2026, a mandatory ESG Product Check will also be carried out in Austria as part of the product development process in the standardised corporate business, similar to the ESG Product Check mentioned in the section on the retail business. This approach will ensure that ESG aspects are taken into account in future product developments.

Progress on the decarbonisation of the insurance portfolio

In its climate strategy, UNIQA sets out its aim to decarbonise its corporate customer portfolio in line with the climate targets of the Paris Agreement. As part of these efforts, companies that operate in the coal, oil and natural gas sectors are analysed on a continuous basis. The focus here is on assessing the commitment of the corresponding customers to climate-related targets and decarbonisation strategies. Due to the low data availability, small and medium-sized companies that source standardised products were not included in the analysis or in the calculation of metrics.

Since 2023, all remaining coal, oil and natural gas customers in the portfolio have been monitored based on available data with regard to their commitment to climate-related targets and relevant climate strategies. The results of the first step provide a clear overview of which customers may require further analysis. In this case, direct written contact would be pursued. This does not include companies that have set science-based climate targets (time horizon: 2050, including five-year interim targets) and are decarbonising their core business in line with the Paris Agreement, or projects that are in line with the Paris goals. According to the analysis of the published data, customers that already publish climate and decarbonisation targets accounted for 8.2 per cent (2024 restated: 8.4 per cent; 2024 published: 15.9 per cent) of customers in the financial year. UNIQA plans to work with coal and oil customers that have yet to define their own decarbonisation pathway in order to obtain confirmation of their climate plans by the end of 2026. Contracts with coal and oil customers that do not commit to emissions reduction plans in line with the Paris Agreement will not be renewed. The same procedure is planned to be applied to natural gas customers from 2031 onwards.

The statuses presented in the table are to be understood as follows:

Status A: The company has set climate targets in accordance with the climate pathway under the Paris Agreement. Information available from public sources.

Status B: No public decarbonisation plan but measures are being taken to develop a separate sustainability agenda.

Status C: No relevant climate strategy information available.

Share of customers with net-zero targets

As a member of the Green Finance Alliance (GFA), UNIQA wants to ensure that all insured companies within the European Union that are required to report under the Non-Financial Reporting Directive (NFRD) or, since 2024, the Corporate Sustainability Reporting Directive (CSRD) have set net-zero targets for their respective core business by 2040. Whereas the prior-year disclosures were based on the NFRD criteria, the disclosures for the financial year were adapted to meet the criteria of the Omnibus I package (Directive (EU) 2026/470), which defines the changes in sustainability reporting requirements and due diligence obligations incumbent on companies. This ensures that a consistent customer data set is available for future years. The enterprises concerned include companies with more than 1,000 employees and revenue in excess of €450 million. Information on the coverage of customers with SBTi targets is no longer reported because this is no longer a requirement under the updated GFA handbook.

ESG risk assessment in underwriting

UNIQA created the UNIQA Corporate Business ESG Underwriting Standard in 2023 to enable its business processes to adapt to emerging sustainability risks. This standard supplements the UNIQA Corporate Business Standard. It outlines the critical impacts of ESG factors on business decisions and describes how to approach customers in sectors exposed to greater sustainability risks. The standard also covers the cooperation with customers required before and after a claim is submitted to increase their resilience to climate risks.

Building on this standard, the ESG risk assessment was incorporated as an integral part of the underwriting process in the financial year. The ESG risk assessment is based on two criteria. For fossil fuels, the focus is on the commitment to phase out the fossil energy business. All other requests for proposals with premium volumes that exceed a defined threshold are required to be examined in depth. This includes, on the one hand, whether the company has its own robust ESG commitments and processes in place and, on the other hand, whether any critical ESG-related incidents have occurred. A more exhaustive investigation is always conducted for customers who are engaged in any activities related to fossil fuels.

It is also ensured that all parties involved – both underwriters and brokers – have access to training on the ESG risk assessment and its processes and that a consistent review of relevant requests for proposals is performed by means of a systematic check for potential due diligence violations.

The following sustainability risks are measured:

The report shows how many of these enquiries were not followed up on, how many companies were added to the watchlist and how many enquiries were processed as normal after an ESG assessment. This also makes it possible to quantify the financial impacts of the transition risks.

The risk assessment with regard to ESG issues is carried out across the non-life business for customers that receive non-standardised product solutions. For standardised product solutions that cover small and medium-sized companies, a new solution in the form of a voluntary commitment will be integrated into new offerings in Austria from 2026.

The following table shows the results of the ESG risk assessment:

Enquiries were rejected where, according to the UNIQA Decarbonisation Statement, they involved prohibited fossil fuel activities for which no decarbonisation plans were in place. Rejections are also issued in the event of systematic, proven violations of fundamental ESG standards. An enquiry is included in the watchlist or approved subject to conditions in the event of serious incidents or where companies that engage in activities related to fossil fuels have published decarbonisation plans. If a more in-depth analysis of the transition status of the customers is necessary, UNIQA initiates engagement.

Results of the analysis of the companies with the highest share of GHG emissions in the portfolio

In its Corporate Business Sustainability Strategy, UNIQA outlines its commitment to analysing the top ten emitters as one of the actions taken to decarbonise its portfolio. The results show that the top 10 emitters combined account for 29.3 per cent (2024 restated:29.5 per cent; 2024 published: half) of the total GHG emissions (Scope 1 and 2). Several metrics were defined for the analysis, including the company’s net-zero commitment, SBTi commitments and the availability of reliable information on the company’s sustainability agenda. The analysis revealed that 45.2 per cent (2024 restated: 45.5 per cent; 2024 published: 35.0 per cent) of the companies have set net-zero targets; 31.5 per cent (2024 restated: 30.9 per cent; 2024 published: 44.0 per cent) of the companies disclose specific information on their sustainability agenda, even though they have not explicitly committed to net zero; and 23.4 per cent (2024 restated: 23.6 per cent; 2024 published: 21.0 per cent) of companies do not publish sustainability information.

Renewable energy business

In the financial year, the renewable energy business achieved a premium volume of €42.7 million (2024 restated: €37.9 million; 2024 published: €23.3 million).

The UNIQA corporate business consistently supports business growth through renewable energy in all countries in which UNIQA operates. Examples include strategic partnerships with insurance brokers as well as photovoltaic and wind power companies. In addition, UNIQA offers special products for photovoltaic power plants and small-scale photovoltaic installations. Additional business opportunities have also been pursued in energy storage. Advice is also provided during the planning phase of renewable energy projects to enhance the safety and resilience of installations. This will further contribute to promoting sustainable energy projects and increasing the resilience of modern energy infrastructure.

All measures described above can be implemented in the course of business without incurring any significant additional expenses.

2.4.4 Targets related to climate change mitigation and adaptation (E1-4)

In its sustainability strategy, UNIQA states its public commitment to achieving net-zero emissions in Austria by 2040 and across the Group by 2050 for its insurance portfolio. Five-year interim targets have also been set for reducing insurance-associated Scope 3 emissions on the path towards the net-zero target. 2022 is used as a base year.

In the financial year, insurance-associated GHG emissions were above the interim target pathway, largely due to the limited coverage of primary data at present. In these scenarios, emissions are calculated on the basis of the emission factors for the relevant economic sectors. The trend in GHG emissions is attributable to the rise in the premium volume. In addition, the targeted expansion of coverage for renewable energy and climate-friendly infrastructure may lead to higher reported GHG emissions in the short term, as the sectoral intensities currently applied do not yet consistently reflect technology-related differences (for example, renewable versus conventional).

At the same time, the introduction of the Omnibus I package (Directive (EU) 2026/470), which includes changes to sustainability reporting requirements and due diligence obligations incumbent on companies, indicates that fewer companies will be subject to CSRD reporting requirements in future, meaning that the expected increase in primary data will not materialise. Against this backdrop, the existing target architecture will be reviewed from 2026 onwards, with a particular focus on linking decarbonisation targets more closely to portfolio components with robust primary data, in order to align progress with actual emissions reductions within the portfolio and to reduce method-related effects.

As a result of the expanded scope and the change in methodology described in the section Gross Scope 1, 2 and 3 and Total GHG emissions (E1-6), insurance-associated Scope 1 and 2 GHG emissions for the base year 2022 were retrospectively recalculated during the financial year and changed from 34,336 to 29,603 tonnes of CO₂e for the Austrian portfolio and from 58,087 to 87,855 tonnes of CO₂e for the international portfolio. The recalculated GHG emissions for the Austrian portfolio in the base year fell despite the expanded scope due to the use of updated emission factors and changes in primary data for individual customers.

The following aspects were taken into account when setting the interim decarbonisation targets:

• Local decarbonisation ambitions for the most important countries in terms of premium volumes in which UNIQA operates (Austria, Poland, Czechia, Slovakia, Hungary, Romania, Croatia, Bulgaria)

• Current sector distribution of the portfolio

• Major decarbonisation initiatives (such as the phasing out of fossil fuels, growth of the renewable energy business)

• The countries’ nationally determined emission reduction plans for the industries represented (in particular energy, heavy industry, transport and waste); however, these are not currently validated in terms of whether they align with the targets set forth in the Paris Agreement.

• The level of ambition for the interim targets is in line with the decarbonisation commitments of the states represented and is reinforced by the comprehensive decarbonisation agenda

• At present, UNIQA has no specific targets in place for premiums from renewable energy sources or sustainability products

As defined in the UNIQA Climate Transition Plan, net-zero emissions refer to the best possible reduction in GHG emissions in line with the relevant scenarios and pathways (see above) and the corresponding offsetting of all residual emissions by the net-zero target year.

2.4.5 Gross Scopes 1, 2, 3 and Total GHG emissions (E1-6)

As a member of the Green Finance Alliance (GFA), UNIQA aims to report on its insurance-associated GHG emissions and to set targets to reduce its emissions to net zero in Austria by 2040 and across the Group by 2050. In 2023, the PCAF method for measuring insurance-associated emissions was applied for the first time to analyse the Austrian corporate business portfolio. Insurance-associated GHG emissions were calculated for the total scope required by PCAF Standard C in the financial year by comparison with the previous year.

In the financial year, insurance-associated emissions from the corporate business totalled 316,263 tonnes of CO₂e (2024 restated: 301,019 tonnes of CO₂e; 2024 published: 172,888 tonnes of CO₂e). The breakdown by the respective Scope is shown in the table.

The calculations take into account insurance-associated emissions produced by the corporate business in the property and technology insurance, liability insurance, transport insurance and motor vehicle insurance business lines. Due to the low data availability, small and medium-sized companies that source standardised products were not included in the calculation.

Insurance-associated emissions were calculated for the insurance sector in accordance with Part C of the PCAF Standard:

• Option 1a: (insurance premium/revenue) × total emissions of the insured entity. Based on verified GHG emissions (Scope 2, market-based). This method corresponds to PCAF quality score 1.

• Option 1b: (insurance premium/revenue) × total GHG emissions of the insured company, whereby Scope 1 is taken into account unverified and Scope 2 is taken into account as both market-based and location-based (partly unconfirmed, partly verified). This method corresponds to PCAF quality score 2.

Data on emissions is taken from the annual non-financial reports published by the respective companies. Accordingly, the figures are always subject to a time delay as insurance-associated emissions are calculated in January of each year on the basis of emissions data for the previous year. The emissions data for customers from 2024 was used for the portfolio calculation in the financial year.

Data on company revenue was sourced from publicly available data sources. Depending on the industry in question, this may include information on turnover, revenue or operating profit.

Option 3a of the PCAF Standard was applied for corporate customers for which only primary data on the parent company’s GHG emissions is available:

• Option 3a: insurance premium/revenue × total GHG emissions of the parent company. This calculation corresponds to PCAF data quality score 4.

Option 3b of the PCAF Standard was applied for corporate customers that do not report their GHG emissions:

• Option 3b: insurance premium × emissions intensity of revenue (based on NACE code). This calculation corresponds to PCAF data quality score 5.

The emission factors applied are the average emissions intensities of the revenue (Scope 1, 2 and 3) generated in the respective sector (NACE code) of Swiss Re (tonnes of CO₂e per € million of revenue).

In the financial year, the calculation of insurance-associated GHG emissions was revised to reflect the updated emission factors from the data provider (Swiss Re). In 2025, Swiss Re reviewed both the data base and the methodology, which changed the intensity figures for numerous sectors. To ensure comparability, insurance-associated GHG emissions for the 2022 base year and the 2024 financial year were calculated and restated retrospectively using the new factors. The calculation of insurance-associated GHG emissions for the financial year is also reported using this updated methodology.

In accordance with Part C of the PCAF Standard, construction all-risk products and assembly all-risk insurance products as well as public administration activities (defined by UNIQA as NACE 84) are not included in the calculation of insurance-associated emissions.

The PCAF data quality score for the entire portfolio (Scope 1, 2) in UNIQA’s corporate business is 4.8 (2024 restated: 4.8; 2024 published: 4.7).

2.5 Climate change in the retail business

2.5.1 Material impacts, risks and opportunities and their interaction with strategy and business model (ESRS 2 SBM-3)

UNIQA has identified several material impacts, risks and opportunities in relation to the retail business. Sustainable elements in retail business products can help customers manage climate change adaptation while reducing their risk exposure to climate-related impacts. UNIQA can provide incentives for decarbonisation and increased energy efficiency among customers through corresponding products. In the medium to long term, the rise in the number of natural disasters constitutes a material physical risk for UNIQA. Among other things, this trend is leading to considerable insurance claims in the agriculture, motor vehicle and household business lines.

2.5.2 Policies related to climate change mitigation and adaptation (E1-2)

ESG Retail Strategy in Austria

The aim of the Group’s strategic ambitions in the retail business in Austria is to help customers reduce their emissions. An ESG strategy for the retail business has therefore been implemented in Austria since 2024. The scope of this ESG Retail Strategy focuses on the product development process in the property insurance, liability insurance, accident and motor vehicle business lines. Targeted training and information campaigns promote employee awareness of sustainability and help to integrate this awareness into customer advisory services. Regarding the environment, the ESG Retail Strategy addresses climate change adaptation and climate change mitigation.

The strategic pillars of the ESG Retail Strategy were consistently pursued in the financial year. Particular attention was paid to further specifying and implementing the existing actions for implementing the ESG Retail Strategy. Closely integrating sustainability matters into operational processes ensures that the sustainability targets are not only considered as abstract concepts but are actively pursued in everyday work and continually refined. For example, the integration of ESG criteria into the product development process has been reinforced and employee awareness and training intensified.

International ESG Customer Strategy

A new strategy was developed for the international retail business in 2025. The content of the ESG Customer Strategy is aligned with the ESG Retail Strategy for Austria and prioritises sustainable and innovative product development as well as raising employee awareness in this area. The strategy applies to UNIQA insurance companies outside of Austria.

Product development process, product monitoring

With a Group-wide product development process policy, UNIQA has set itself the goal of developing products and services with sustainability in mind and taking an environmentally and socially sustainable approach to value creation. Integrating sustainability matters into product development aligns with the Group-wide sustainability strategy. In the product development process, a target market is defined for each product, considering the characteristics, risk profile, complexity and properties of the product in question. Product testing assesses whether the product meets the defined needs, objectives and characteristics of the target market, including sustainability objectives. UNIQA conducts ongoing post-launch monitoring and regularly reviews products to identify any necessary improvements and ensure that the product continues to meet the needs, characteristics and (sustainability) objectives of the identified target market. Customer preferences regarding sustainability criteria, based on trend and market research, are also considered in product development.

ESG Product Check

In Austria, a comprehensive, mandatory ESG Product Check is conducted as part of the product development process. This check is based on a guideline for sustainability in the product development process, which provides a structured tool for internally assessing a product’s sustainability. It defines material environmental characteristics, including climate change adaptation along with reducing energy consumption and emissions, and social characteristics. The United Nations’ Sustainable Development Goals (SDG) likewise provide important guidance in this regard. To ensure that the screening criteria are relevant and up to date, the guideline is reviewed on an annual basis and updated as necessary. While the evaluation process is conducted by a cross-functional team, operational responsibility for the ESG Product Check lies with the respective product managers.

This ESG Product Check will also be implemented in UNIQA insurance companies outside of Austria as of 2026, although it will initially be offered as a voluntary implementation option. Due to the diversity of the retail business in the individual countries, implementation and responsibilities are defined in the respective local governance bodies.

Anchoring actions among management and the Management Board

In Austria, responsibility for implementing these measures lies with the Head of Performance Management, and for the insurance companies outside of Austria with the Head of Business Development International. Together with the Management Board members responsible for the Customer & Market Austria and Customer & Market International departments, they are responsible for ensuring that the processes are implemented with all the necessary steps.

Continuing education and training in product development

Another key factor for the ESG-related product assessment is raising awareness among product managers that sustainability issues need to be integrated into the design of new and revised insurance products. Product managers receive regular training as part of their dedicated training programme. In the financial year, the content covered in training included the ESG Guidelines related to product development, practical implementation examples and workshops on sustainability market research. The comprehensive range of training courses offered is designed to ensure that the relevant content is communicated on a continuous basis and in a manner suitable for the target audience.

In addition to taking sustainability matters into account in the product landscape, great importance is attached to integrating this topic into the advisory process. To help advisors improve their sustainability expertise, UNIQA Austria has developed a comprehensive training strategy that has been implemented since 2024. The strategy includes newly developed seminars, workshops and e-learning courses, as well as the integration of sustainability topics into existing training formats. On an international scale, since 2025 attention has also been paid to ensuring that advisors are highly qualified through workshops, training courses, educational courses, e-learning courses and similar formats.

2.5.3 Actions and resources in relation to climate change policies (E1-3)

In order to achieve the objectives of the UNIQA Sustainability Strategy and the Group Product Development Process Policy and to implement the identified decarbonisation measures, UNIQA was once again able to roll out numerous initiatives in the retail business in the financial year and to further integrate sustainability matters into products and consulting. It is currently not possible to estimate the GHG savings achieved and expected in connection with the climate change mitigation actions undertaken to date.

Actions in Austria

New ESG components were launched on the market in the Austrian product landscape through product innovations and updates. The “renewable energy technology” component of property insurance gives customers the ability to insure energy generation and recycling facilities such as solar technology and heat pumps independently of other coverage. In the mobility sector, a new car tariff has been continued, including dedicated services for electric vehicles and their batteries as well as a carbon pricing model. This model offers price reductions for low-consumption vehicles.

In the financial year, particular attention was given to incorporating climate risks into insurance products in an even more targeted manner and on developing innovative solutions for climate change adaptation. One key outcome of this development is the heat stress clause, which was implemented for the first time in accident insurance. In doing so, UNIQA is responding to the growing challenges posed by climate-related changes and laying the foundations for greater protection against climate-related risks for customers in the future.

At the same time, the market positioning of ESG product features was enhanced. Targeted testing campaigns have evaluated various approaches to determine how sustainability-related product features are perceived by customers and which communication strategies are particularly effective. The insights gained are directly incorporated into the further development of product and marketing strategies and help to anchor ESG aspects even more firmly in the market.

Another focus was on training employees on sustainability and the associated regulatory requirements and raising their awareness of these issues. In 2025, a target group-based mandatory e-learning course was held for sales employees, supported by monitoring. As a result, employees are kept informed about the latest regulatory requirements and can actively incorporate sustainability topics into their advisory services. Numerous webinars and seminars were also offered for various target groups as part of voluntary training.

Actions in international markets

Other insurance companies outside of Austria are also continuously focusing on sustainability matters in their products. For example, a carbon pricing model for vehicles that offers advantages for vehicles that produce lower CO₂ emissions has been on the market in Czechia and Slovakia since 2023 and in Croatia since 2024.

In certain countries, the focus was on providing training to ensure employees possess the necessary skills. For example, targeted training concepts were developed in Czechia, Slovakia, Poland and Hungary to raise awareness of sustainability among employees.

2.5.4 Targets related to climate change mitigation and adaptation (E1-4)

Quantitative targets and corresponding action plans for the strategic focus areas in the retail business in accordance with the targets defined in the Paris Agreement are still being prepared and will be published within the next two years. Until then, the focus will be on integrating ESG criteria into product development, as well as on updating and providing appropriate customer advisory. There is currently no mandatory guideline in place for measuring the effectiveness of ESG criteria in product development. The ESG Guideline and/or the associated ESG Product Check in the product development process merely ensure the consistent internal evaluation of ESG features and their transparency.

2.5.5 Gross Scopes 1, 2, 3 and Total GHG emissions (E1-6)

Regarding the retail business, UNIQA quantifies insurance-associated Scope 3 emissions from the motor portfolio of private individuals based on a calculation model and estimates in line with the PCAF Standard. This produces figures on GHG emissions that can be allocated to the insured vehicles. Emissions produced by a vehicle are attributed to the insurance company on a pro rata basis. The resulting findings make it possible to map the impacts of vehicles insured by UNIQA on the climate.

To calculate the corresponding emissions, the annual distance travelled by the respective vehicle is multiplied by a country-specific attribution factor. The allocation factor applied for the pro rata allocation of insurance-associated emissions produced by the UNIQA motor portfolio is derived from an additional document published by PCAF. The countries listed in the document are considered based on the factors specified therein. The share of insured emissions in Austria remains unchanged compared with the previous year at 7.71 per cent. A country-specific average of 4.48 per cent is applied for countries that are not listed, which also corresponds to the average applied in the previous year.

Due to the lack of sufficient local databases to extrapolate the average distances travelled in certain countries, UNIQA applies the figures released by the German Federal Motor Transport Authority as the source. When calculating emission figures for vehicles powered by combustion engines and hybrid engines, the respective average emission figures for each listed vehicle specific to the brand and year of registration published in the European Environment Agency (EEA) database are considered. When calculating emissions produced by electric vehicles, the country-specific electricity mix is taken into account through the grid emission factor, which reflects the emissions intensity of the respective country’s electricity generation.

In general, the quality of the data used is evaluated in line with the PCAF Standard on a scale of 1 to 5. The lower the score, the higher the quality. The PCAF Standard provides three different options for calculating insurance-associated emissions. The first option is based on actual vehicle-specific emissions derived from actual consumption or performance data. The second option is based on estimated vehicle-specific emissions derived from statistical data. The third option is based on estimated non-vehicle-specific emissions derived from general statistical averages. Due to the limited availability of data, UNIQA uses all three options.

Considering the uncertainty regarding primary data in certain countries and the limited availability of country-specific secondary data for kilometres driven, a PCAF score of 5 was calculated for the financial year. In particular, the dependence on secondary sources makes it difficult to provide a more precise account of emissions for certain parts of the portfolio. In certain instances, the current data quality aligns with the definition of better (lower) scores, such as for emission intensity, based on the specific make and model of the vehicle. At present, it is not always possible to calculate emissions separately for individual vehicle groups for the Austrian market. In this scenario, figures are extrapolated on the basis of the parts of the insurance portfolio for which emissions information is available. In the financial year, insurance-associated emissions from the motor portfolio amounted to 389,531 tonnes of CO₂e (2024: 393,405 tonnes of CO₂e).

UNIQA plans to improve the accuracy and transparency of its motor portfolio calculations. One of the primary objectives is to refine the data sources used to calculate the kilometres travelled in the respective countries. This can be achieved through external partnerships or by using meaningful internal data sources, which would require collecting more detailed information on consumption behaviour, for example regarding charging cycles and kilometres driven.

2.6 Climate change in real estate and operational ecology

2.6.1 Material impacts, risks and opportunities and their interaction with strategy and business model (ESRS 2 SBM-3)

UNIQA has identified several material impacts, risks and opportunities associated with real estate and own operations with regard to climate change adaptation, mitigation and energy consumption. The failure to adequately reduce GHG emissions (Scope 1 and 2) in relation to both real estate and the vehicle fleet represents one material impact, which has the potential to further increase the GHG intensity in the atmosphere. Another material impact stems from energy consumption, which could put significant strain on the power grid in the event of energy crises or greater dependence on volatile renewable energy. To counteract this, actions to increase the energy efficiency of buildings and investments in renewable energy are planned in order to reduce the load on the grid and to cover a share of UNIQA’s energy requirements. In addition, there is a physical climate risk that extreme weather events may cause damage to both owner-occupied properties and properties held as financial investments. Further transition risks result from increasing regulatory requirements governing emissions and energy efficiency, which may ultimately result in stranded assets in the event of non-compliance. Particularly in times characterised by limited energy availability and high energy costs, dependence on external energy suppliers could pose a financial risk for the ongoing operation of UNIQA sites.

To assess the risks of environmental events to investment properties, a climate risk analysis was carried out in the financial year for 77.1 per cent (2024: 74.4 per cent) of the investment properties with a fair value of around €3.0 billion (2024: €3.0 billion) (see also the “Investments and Taxonomy-eligible activities” chapter of the Principles for reporting on the EU Taxonomy). A high climate risk was identified for two (2024: two) of the properties analysed. In the future, climate risk analyses will be carried out on investment properties as well as owner-occupied properties to ensure that the entire owned property portfolio has been assessed with regard to risk. The climate scenario RCP 8.5 (global temperature rise of 4.3°C by 2100) for the period 2020 to 2100 was applied for climate risk analyses. The climate risks assessed, including floods, storms and heat stress, are based on the specifications of the EU Taxonomy Regulation. Based on the analysis, a financial risk of €7.7 million (2024: €7.6 million) was determined for the EU Taxonomy-eligible investment properties. The risks identified are examined in detail and shortcomings remedied with appropriate measures.

2.6.2 Policies related to climate change mitigation and adaptation (E1-2)

The climate strategy pursued by UNIQA aims to mitigate the risks of climate change while simultaneously leveraging opportunities to drive the transformation to a low-carbon economy. The strategy is closely linked to the goals of the Paris Agreement and follows the 1.5°C trajectory as closely as possible in line with the validated SBTi targets. This applies to both owner-occupied properties held by UNIQA and investment properties. Responsibility for the operational implementation of the strategy lies with the member of Management Board for Operations with respect to the vehicle fleet and the member of the Management Board for Asset Management with respect to the properties. The strategy encompasses climate change adaptation, climate change mitigation, energy efficiency and the use of renewable energy, and is based on the following priorities:

Decarbonisation of real estate and increase in energy efficiency

UNIQA has set itself the SBTi-validated target of reducing the GHG emissions (Scope 1 and 2) of owner-occupied properties by 42 per cent by 2030 compared with the base year of 2021. Under the long-term climate strategy, owner-occupied properties held by UNIQA as well as investment properties in Austria will reach net-zero emissions by 2040 and in all other countries in which UNIQA operates by 2050. To this end, measures such as thermal renovations, transitioning to sustainable heating systems, greater use of certified electricity from renewable sources and improving energy efficiency are planned with actions such as optimising heating, air-conditioning and ventilation systems along with expanding energy monitoring.

Electrification of the vehicle fleet

Electrification of the vehicle fleet provides further leverage for decarbonisation. The goal is to achieve a complete transition to electric vehicles by 2030 in Austria and by 2040 across the Group. Plans include accompanying the transition with an expansion of the charging infrastructure.

Use of renewable energy

For several years now, UNIQA sites in Austria have exclusively purchased energy from renewable sources for owner-occupied properties, and since 2024 only electricity certified according to Eco-label Guideline 46 has been purchased. In addition, photovoltaic installations are continually being installed to reduce the need for electricity purchased from external suppliers. A transition to renewable energy is also planned for heating systems. By 2035, all oil and gas heating systems and direct heating systems at the Austrian sales offices will be replaced by more environmentally friendly alternatives such as district heating, heat pumps and biomass heating systems.

Management systems

As a further component of the sustainability strategy, UNIQA integrated its existing in-house energy management system into an EMAS and ISO 14001 certified environmental management system in 2024 at both the Austrian sales offices and MavieMed Group company sites. The objective behind this move is to continuously improve environmental performance based on a systematic approach and to minimise negative environmental impacts. The system was successfully recertified in the financial year.

2.6.3 Actions and resources in relation to climate change policies (E1-3)

Decarbonisation of properties

In the financial year, UNIQA invested €2.3 million (2024: €3.0 million) in order to reduce the GHG emissions of properties and to adapt to climate change. A further €5.2 million investment volume is planned for 2026. These investments are aimed at achieving the targets set forth in the Paris Agreement and improving the physical resilience of the properties owned by UNIQA. They will make a significant contribution to achieving UNIQA’s SBTi targets and net-zero emissions by 2040 in Austria, and by 2050 in all other countries in which UNIQA operates.

With regard to buildings, the transition to sustainable heating systems such as heat pumps, biomass heating and district heating plays a major role. €0.6 million (2024: €0.5 million) was invested for this in the financial year, with an additional €2.0 million earmarked for 2026. In the financial year, three (2024: four) fossil fuel heating systems were replaced by greener alternatives, resulting in an estimated 13 tonnes (2024: 19 tonnes) of Scope 1 GHG emissions saved each year. By 2035, all oil and gas heating systems at the Austrian sales offices will be replaced by more environmentally friendly alternatives such as heat pumps, district heating and biomass heating systems.

Improving energy efficiency

UNIQA is also investing in reducing energy consumption. In the financial year, €1.7 million (2024: €2.5 million) was invested in reducing energy consumption, with an additional €3.2 million earmarked for 2026. The measures taken to date have been accompanied by the expansion of the comprehensive energy monitoring system launched in Austria back in 2018 to three (2024: five) additional sites in Central and Eastern Europe. Energy monitoring has enabled UNIQA to achieve estimated annual savings of 1 MWh (2024: 66 MWh) in district heating, 17 MWh (2024: 0 MWh) in gas and 312 MWh (2024: 112 MWh) in electricity, reducing Scope 1 and Scope 2 emissions (location-based) by an estimated 86 tonnes of CO₂e (2024: 39 tonnes of CO₂e) as a result. The monitoring system is designed not only to increase efficiency, but also to continuously optimise energy consumption. The aim behind this is to reduce dependence on external energy suppliers and increase resilience in the event of energy crises.

Use of renewable energy

Photovoltaic systems with a total capacity of 176 kWp (2024: 205 kWp) were installed at four (2024: three) sites in Austria in the financial year. According to estimated figures, this will reduce Scope 2 GHG emissions (location-based) by 44 tonnes of CO₂e (2024: 64 tonnes of CO₂e) each year.

Electrification of the vehicle fleet

Compared with the previous year, the share of electric vehicles in Austria rose from 57.2 per cent to 74.0 per cent. However, internationally the share fell from 1.1 per cent to 0.9 per cent due to the sale of the companies in Albania, North Macedonia and Kosovo.

The materiality of these measures is clearly reflected in their prioritisation: The transition to renewable energy and improving energy efficiency are key to reducing Scope 1 and Scope 2 emissions and achieving the decarbonisation targets.

The financial resources allocated to these measures highlight UNIQA’s commitment to achieving its climate targets while adapting its real estate portfolio and operational ecology to the regulatory and physical requirements brought about by climate change. In the financial year, work began on a detailed action plan to transition electricity requirements to renewable energy at all owner-occupied properties.

2.6.4 Targets related to climate change mitigation and adaptation (E1-4)

UNIQA aims to achieve net-zero emissions in Austria by 2040 and Group-wide by 2050 for both UNIQA’s owner-occupied properties and investment properties. The goal for the vehicle fleet is to achieve this target in Austria by 2030 and Group-wide by 2040. To this end, UNIQA has set an interim science-based target and is committed to reducing its Scope 1 and Scope 2 emissions from owner-occupied properties and vehicle fleet by 42 per cent by 2030 against the base year of 2021. Up to the end of the financial year, Scope 1 and Scope 2 GHG emissions had fallen by a total of 15.9 per cent (2024 restated: 16.3 per cent; 2024 published: 13.3 per cent) compared with the baseline value. The baseline value was changed retrospectively in the financial year to 11,900 tonnes of CO₂e (2024 restated: 11,902 tonnes of CO₂e; 2024 published: 14,510 tonnes of CO₂e). The reasons behind the change in the baseline value are the same as those for the correction of prior-year energy consumption and are described in the section Energy consumption and mix. The interim target has been validated by SBTi and is therefore consistent with the 1.5°C limit pathway set out in the Paris Agreement.

Decarbonisation of real estate and increase in energy efficiency

UNIQA also pursues clear climate objectives in the real estate sector: A full phase-out of oil is planned for all investment properties by 2030.

Electrification of the vehicle fleet

The goal for Austria is to achieve complete electrification by 2030. Internationally, the interim target is to achieve 20 per cent by 2030 with a full transition by 2040.

Use of renewable energy

By 2035, 10 per cent of the electricity consumed by Austrian sales offices over the course of the year on a net basis will be covered by self-generated photovoltaic electricity. At present, this share stands at 10.9 per cent (2024: 8.7 per cent), with which the target was already met in 2025.

EU Taxonomy

Alignment with the EU Taxonomy provides the main benchmark with regard to investment properties. The target was to increase the EU Taxonomy alignment of investment properties to 76.8 per cent (2024: 74.4 per cent) by the end of the financial year in terms of their fair value.

As things stand, it is not possible to provide detailed information on the contribution of the respective decarbonisation levers towards achieving individual targets related to the transition to green electricity.

2.6.5 Energy consumption and mix (E1-5)

In the financial year, the total energy consumption of owner-occupied properties plus investment properties was 205,791 MWh (2024 restated: 220,013 MWh; 2024 published: 258,168 MWh). As primary data for the entire year is only available for a certain number of the properties, estimation methods have been employed for properties for which primary data is only partially available or not available at all. 92.4 per cent (2024 restated: 73.9 per cent; 2024 published: 70.3 per cent) of owner-occupied properties (in terms of m² of floor space; owned and leased) are covered by primary data. 32.9 per cent (2024 restated: 28.4 per cent; 2024 published: 32.4 per cent) of the primary data collected is based on current annual data, whereas 59.5 per cent (2024 restated: 45.5 per cent; 2024 published: 37.9 per cent) is based on historical data such as heating consumption from 1 July 2024 to 30 June 2025. This approach has been validated through internal analyses and comparisons between historical and current annual consumption data. At present, neither current nor historical primary data is available for 7.6 per cent (2024 restated: 26.1 per cent; 2024 published: 29.7 per cent) of owner-occupied properties, resulting in a secondary data method being applied instead. By contrast, this share rises to 100 per cent for investment properties. Average values are calculated for these buildings on the basis of energy-relevant building characteristics, and electricity and heat consumption are extrapolated from these figures. Building characteristics that may be considered in the calculation include type of use, floor space, year of construction (if not known, the average energy expenditure category for the years of construction 1977 to 2008 is used as a benchmark), type of electricity purchased, geographical location, type of ventilation, air conditioning and heating system, and energy expenditure categories extrapolated on the basis of heating and cooling degree days. The averages for the respective building characteristics were obtained from databases that are not publicly accessible. The use of smart metres and green leases improves data quality, continuously increasing the share of properties for which primary data is available as a result. Future action plans and property-specific optimisation measures can be developed on this basis for the entire real estate portfolio. Nevertheless, despite accounting for the building characteristics, significant differences may arise between estimated and actual energy consumption.

In the financial year, improvements were made to the calculation model and adjustments were made to the allocation of floor space between owner-occupied properties and properties used by third parties. The prior-year figures for total energy consumption, the resulting GHG emissions for the properties and all metrics based thereon were restated accordingly.

The average energy consumption of owner-occupied properties came to 161 kWh/m² (2024 restated: 175 kWh/m²; 2024 published: 182 kWh/m²).

Of the electricity purchased that is consumed in owner-occupied properties, 53.6 per cent (2024 restated: 48.7 per cent; 2024 published: 64.8 per cent) comes from renewable energy sources. Information on the share of renewable energy sources is not available for investment properties.

The energy consumption of the vehicle fleet came to 14,400 MWh (2024: 15,265 MWh), of which 3.2 per cent (2024: 1.9 per cent) was from renewable energy sources. With annual mileage of 27,962,615 kilometres (2024: 27,276,702 kilometres), the fleet’s specific energy consumption is 52 kWh/100 km (2024: 56 kWh/100 km).

Data on the vehicle fleet was aggregated using software-based fuel card evaluation systems, petrol station receipts, expense claims and driver’s logbooks. In cases where data was incomplete or unavailable, an estimate was made at the individual vehicle level, considering the respective propulsion or fuel type and the vehicle type. This estimate is based on data from comparable vehicles in the company’s fleet along with data sourced from publicly accessible databases. For around 93.1 per cent (2024: 92.2 per cent) of owner-occupied vehicles, fuel consumption data is presented on the basis of primary data.

In the financial year, fleet data was analysed and a plan was developed to achieve the targets for 2030 (100 per cent electric vehicles in Austria, 20 per cent internationally). To this end, a simulation was carried out in coordination with all responsible fleet managers for the years 2026 to 2030 to see how the composition of the fleet is expected to change in their areas of activity by 2030. As a result of the simulation, it can be assumed that exclusively electric vehicles will be used in Austria by as early as the end of 2028, and that the share of electric vehicles outside of Austria will also increase from 1 per cent in 2024 to around 30 per cent by 2030. The Group-wide share of electric vehicles is expected to reach around 40 per cent by 2030. It can therefore be assumed that the set targets can be achieved. Based on the simulation, around 1,900 tonnes of CO₂e can be saved Group-wide by 2030 through the electrification of the vehicle fleet and ad hoc reductions in the size of the vehicle fleet, thereby contributing to SBTi target achievement.

Energy intensity

The energy intensity of activities in high climate impact sectors per net revenue from these sectors amounted to 1,039 MWh per € million (2024 restated:1,142 MWh per € million, 2024 published: 1,464 MWh per € million) of net revenue and related exclusively to real estate activities (NACE code L). The numerator for calculating energy intensity is the total energy consumption of investment properties. The denominator comprises all rental income from these properties (see “Investments”, “Investment properties” in the Notes to the Consolidated Financial Statements).

2.6.6 Gross Scopes 1, 2, 3 and Total GHG emissions (E1-6)

A calculation tool (akaryon ESG Cockpit) was used to calculate the emissions of the real estate and the vehicle fleet and to assign them to the individual scopes. It specifies factors for each substance, such as fuel consumed by the vehicle fleet, which are used to calculate the resulting emissions. These factors are primarily based on the ecoinvent database, version 3.10 (GWP 100, IPCC 2021) and are managed and continuously updated by the software provider. They are applied to the real estate and the vehicle fleet of all consolidated companies.

The input data was determined in accordance with the methods described in “Energy consumption and mix (E1-5)”. Refrigerants were only included in the calculation for buildings for which primary data was collected.

In cases where primary data on energy consumption was not available, it was estimated on the basis of the following criteria: property size, year of construction, asset class, heating type, green electricity supply (100 per cent yes/no) and the presence of an air conditioning system.

Emissions resulting from electricity consumption are calculated on the basis of the country-specific average electricity mix. If it can be verified that exclusively green electricity is purchased for a property, emissions are set at zero. Total emissions from district heating are allocated to Scope 2. Based on the assumption that energy consumption will be lower for empty properties, the respective consumption values are reduced by 50 per cent compared with occupied properties. Emissions produced by electricity and heat consumption at investment properties are included in total under Scope 1 and Scope 2.