Aurubis : Non-Financial Report 2022/23

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Non-Financial Report

Annual Report 2022/23  Aurubis

62 Non-Financial Report

Sustainability

Aurubis intends to further expand its role as a leading company in sustainability with its 2030 sustainability targets.

Occupational health

and safety

Future-oriented	Energy and climate
employer
Environmental protection
Training and education
Social engagement

People Environment

Economy

Metals for Progress:

Driving Sustainable Growth

Governance and ethics

Recycling solutions

Responsible supply chain

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Introduction

Aurubis sustainability targets

It is important to us to treat employees, suppliers, customers and neighbors with respect, whether in direct business operations or in the areas around our plants. The same applies to the environment, as we are aware of the limits of our planet. So sustainability is a significant part of our conduct in the Aurubis Group, enshrined in our company strategy, and therefore key

to our business activities. We follow our company mission to responsibly transform raw materials into metals for an innovative and sustainable world.

With this Non-FinancialReport (NFR), Aurubis fulfills its obligation to disclose non-financialinformation for fiscal year 2022/23 pursuant to Sections 315b and 315c in conjunction with Sections 289b to 289e of the German Commercial Code (HGB). We use the universal standards of the Global Reporting Initiative (GRI) as a guide Glossary, page 273.

The NFR also contains information in accordance with the reporting requirements of the EU Taxonomy, Regulation (EU) 2020/852 EU Taxonomy: Glossary, page 272.

We describe the main external factors that influence business development in the Risk and Opportunity Report of the Combined Management Report, page 168. We detail the risks related to non- financial aspects beyond the company boundaries there as well. Non-financialrisks were assessed in accordance with

Section 289c (3) of the German Commercial Code (HGB). No non-financial risks were identified in the process that were very likely to cause a serious negative impact on employee and environmental matters, on respect for human rights, on the prevention of corruption and bribery, or on social matters.

Our corporate strategy, "Metals for Progress: Driving Sustainable Growth," was updated and adopted in fiscal year 2020/21. This strategy helps us secure and strengthen our core business, pursue growth options, and expand our industry-wide leadership position with respect to sustainability.

This further underlines our aspiration to integrate sustainability into all areas and activities of the company even more thoroughly, thus making it a driver for growth and success. The subsequent development and implementation of the Aurubis Management System (AMS) will assist Aurubis in successfully realizing its company strategy. The Sustainability division is part of the AMS organization and active on strategic committees.

Our "Expanding industry leadership in sustainability" strategy includes the focus areas People, Environment and Economy, which encompass nine sustainability action areas. Each action area has clearly defined targets to be reached by 2030. The previous Sustainability Strategy with its 2018-2023targets was assimilated as a milestone into the Group strategy mapped out until 2030 for the Aurubis 2030 sustainability targets, page 64. In the 2021/22 fiscal year, the Executive Board and the Supervisory Board validated and adopted the updated strategy including the sustainability targets. The Sustainability division continued to advance the implementation of the sustainability targets and the distribution of the targets to functions and sites, along with additional steps towards realizing the targets. The 2030 sustainability targets and the progress of the milestones for 2022/23 are featured at the beginning of each chapter in this report. The implementation status of the 2030 sustainability targets is detailed in the chapters as well. In the year under review, we adjusted our goals for the 2030 sustainability targets in the "Responsible supply chain" action area. This is discussed in detail in Responsible supply chain, page 99.

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Aurubis' 2030 sustainability targets

Action area	Ambition	2030 targets	2022/23 milestones
	Economy
Governance	We uphold the principles of
and ethics	responsible corporate governance.
Recycling	We offer comprehensive value chain	50 % average recycled content
solutions	solutions for the circular economy.	in copper cathodes
Responsibile supply	We minimize negative impacts	The improvement plan implemented	» Human rights, environmental
chain	on people and the environment	considerably reduced the risk with all	protection, and safety clauses in
		in our supply chains.	suppliers assessed as high risk.	100 % of long-term contracts for
				primary raw materials
				» Continued rollout of the Aurubis
				Business Partner Screening
				» Copper Mark certification of four
				sites

Environment

Energy and	We will be carbon-neutral	-50 % absolute Scope 1 and Scope 2
climate	well before 2050.	emissions (reference year 2018)
		-24 % Scope 3 emissions per ton
		of copper cathodes1
		(reference year 2018)

• ISO 50001 at all production sites

Environmental	We produce with the smallest
protection	environmental footprint
	in our sector.

-15 % specific dust emissions

in g/t of multimetal copper equivalent (reference year 2018)

-25 % specific metal emissions to water in g/t of multimetal copper equivalent (reference year 2018)

• ISO 14001 at all production sites
• Reduction of specific metal emissions to water by 50 % in g/t of copper (Cu) output (reference year 2012)
• Reduction of specific dust emissions by 15 % in g/t of Cu output (reference year 2012)

People

Occupational health	We prevent work-related accidents,	LTIFR ≤1.0	» ISO 45001 certifications
and safety	injuries, and illnesses (Vision Zero).		at all production sites
Future-oriented	We create a work environment for	100 % of the relevant employees	» Development of a diversity
employer	close collaboration and promote	receive unconscious bias training	section framework
	diversity and commitment. We
	>40 %2 of employees take part in job
	passionately­	work for the progress of	rotation and job shadowing, while
	the company and society.
	diversity is fostered at the same time
			At least 75 %2 of the employees
			surveyed participate in pulse checks
			and feedback measures
Training and	We provide high-quality vocational	100 % fulfillment of the continuing	» 18 training hours per employee
education	training and invest in forward-looking	education allotment in hours	per year on average
	qualifications for employees.	(continuing education allotment:
			18 hours per year for each employee)

Social	Locally and internationally, we are
engagement	a reliable partner that is making
	a lasting contribution to a livable
	environment.

90 % long-term partners (percentage of total budget)

0.8 % of operating EBT (five-year average) as annual budget for social engagement, and at least € 2 million

• Developing an impact monitoring system to evaluate sponsored projects

1. Refers to copper cathodes from internal production.
2. Over the period FY 2022/23 to 2029/30.

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Key aspects for Aurubis

When selecting the aspects for the NFR, we were guided by both the company's main sustainability action areas and the non-financial topics that are required for understanding business development, the business result, the company's position, and the impacts of our activities on these aspects.

To identify the relevant report content, we updated our materiality analysis Glossary, page 273 in the reporting year with the assistance of internal and external experts.

We identified five new material topics in the materiality analysis: "IT security"; "Work and leadership culture"; "Circular economy"; "Remuneration policies"; and "Local communities". We also changed the classification of three topics to improve differentiation: "Decarbonization" no longer falls under "Energy use and CO2 emissions" and is now a separate topic that includes "Renewable energies". "Human rights in the supply chain" and "Environmental protection in the supply chain" were also made separate material topics this year.

The materiality analysis also revealed that three topics are no longer considered material: "Product safety"1; "Work in associations and political lobbying"; and "Diversity and equal opportunity". As in previous years, "Social engagement" also fell below the materiality level. Since "Social engagement" and "Diversity and equal opportunity" are both part of our company strategy, we have included them in this NFR. We also report on "Work in associations and political lobbying" since we consider it important to transparently disclose our activities in this area.

The Executive Board approved the results.

In the NFR, the topics identified as material in this process have been assigned to the respective sustainability action areas, which are each detailed in individual chapters in the report. Topics with overlapping content and the same management approach are summarized in these sections Overview material topics in NFR, page 66.

1 We report comprehensively on product safety in the Sustainability Report and on our homepage.

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Overview of material topics in NFR

Topics pursuant to the	Material	Sustainability
German Commercial Code	topic	action area(s)
Employee-related matters	Diversity and equal opportunity1	Future-oriented employer
	Workplace flexibility	Future-oriented employer
	Training and education &	Training and education
	human resources development
	Health and occupational safety	Occupational health and safety
	Remuneration policies	Future-oriented employer
	Work and leadership culture	Future-oriented employer
Environmental matters	Energy use and efficiency	Energy and climate
	Decarbonization	Energy and climate
	Environmental and climate protection	Responsible supply chain
	in the supply chain
	Circular economy	Recycling solutions
	Maintaining air, water and soil quality	Environmental protection
	Waste	Environmental protection
	Water use and withdrawal	Environmental protection
	Handling of feed materials	Recycling solutions
	Products for sustainable transformation	Recycling solutions
Social matters	Work in associations and political lobbying1	Governance and ethics
	Social engagement1	Social engagement
	Local communities	Social engagement
Human rights	Human rights and labor and social standards	Governance and ethics
	Human rights in the supply chain	Responsible supply chain
Anti-corruption	Preventing corruption and	Governance and ethics,
	anti-competitive behavior	responsible supply chain
Additional material aspects	IT Security

1 Not material within the meaning of the German Commercial Code (HGB), but material for Aurubis.

Page

in NFR

75

75

79

81

75

75

84

84

99

92

90

90

90

92

92

95

96

96

97

99

103

104

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Sustainability management

As part of the 2020/21 strategy process, the decision was made to realign Aurubis' sustainability organization to acknowledge the Group's sustainability ambitions and the increasing importance of sustainable business practices in legislation and on the market. As part of this realignment, an independent Sustainability division with increased staffing levels was created in January 2022. In this reporting year, additional positions were filled in order to satisfy the growing importance of environmental, social and governance issues (ESG issues, ESG: Glossary, page 272) as well as supply chain management. The head of the Sustainability division reports directly to the CEO, who bears overall responsibility for sustainability in the Aurubis Group.

The Sustainability division serves as the interface for the sustainability-relevant divisions and coordinates all of the related processes within the Group. The Sustainability division is also responsible for continuously reviewing and developing the sustainability targets and working with the divisions and sites on operationally implementing and advancing the measures. Contacts have been appointed at the sites and for the relevant corporate functions for this purpose. The Sustainability division reports current developments to the Supervisory Board (to the Audit Committee). It also undertakes a continuous review based on ESG criteria, and offers technical support for strategic projects, as well as carrying out supplier assessments based on sustainability criteria. The division also coordinates with Corporate Communications in managing sustainability reporting and communication. It is the point of contact for ESG rating agencies and represents Aurubis' interests in sustainability issues.

In recognition of the impact of sustainability on the company's success, the Aurubis Executive Board's variable compensation - in particular the annual bonus - takes various ESG performance criteria1 Compensation Report in the Corporate Governance Report, page 32 into account.

We have ensured the transparency of sustainability achievements in a variety of ways for many years. These include voluntary reporting and participation in sustainability rankings and ratings, such as the Carbon Disclosure Project (CDP, a non-profitorganization that advocates for climate reporting, among other things) Glossary, page 272 and EcoVadis. We are also rated by established agencies such as MSCI, Sustainalytics and Institutional Shareholder Services Inc. (ISS ESG) www.aurubis.com/en/responsibility/reporting-kpis-and-esg- ratings. Our Sustainability Report is based on the Global Reporting Initiative (GRI) standards and has been released every two years to date. It supplements the NFB. In the years without a Sustainability Report, like this fiscal year, the sustainability KPIs are updated and released separately in consolidated form in a KPI Update. The European Union's new Corporate Sustainability Reporting Directive (CSRD) will apply to Aurubis starting in 2024. We will publish the first sustainability statements (CSRD report) in accordance with these new regulatory requirements for the 2024/25 fiscal year. The Sustainability division coordinates the timely fulfillment of future reporting obligations.

We communicate regularly with our key stakeholders about sustainability-related topics. We believe it is important to maintain an open and transparent dialogue with our employees, with customers, suppliers, policymakers and society, capital market participants, the media, non-governmental organizations, and the scientific community.

1 These are not the most significant non-financial performance indicators

in accordance with Section 289c (3) of the German Commercial Code (HGB).

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Description of the business model and presentation of the Group structure

As an integrated group, Aurubis processes complex metal concentrates, scrap metals, organic and inorganic metal-bearing recycling raw materials, and industrial residues into metals of the highest purity. In the course of our production processes, copper concentrates and recycling materials are converted into copper cathodes. This is the standardized product format that is traded on the international metal exchanges. Copper cathodes are the starting product for manufacturing additional copper products, such as copper wire rod, continuous cast shapes Glossary, page 272, rolled products and strip, along with specialty wires and profiles, but they can also be sold directly. In addition to our main metal, copper, our metal portfolio also includes gold, silver, lead, nickel, tin, zinc, minor metals such as tellurium and selenium, and platinum group metals. Sulfuric acid, iron silicate Glossary,

page 273, and synthetic minerals round off the product portfolio. The company purchases the necessary feed materials globally, as it doesn't own any mines or stakes in mines Business model of the Group, page 124.

Aurubis AG is the parent company of the Aurubis Group and is based in Hamburg, Germany. For us, sustainability and the related action areas and measures apply to all Group companies. The key indicators mentioned in this report are recorded at Aurubis in the individual departments, companies, and sites, and consolidated at the Group level. In addition to Aurubis AG, the scope of consolidation includes all of the fully consolidated subsidiaries (as at September 30, 2023). When the following report mentions copper production in the context of environmental KPIs, this refers to primary and secondary copper production at the Hamburg, Lünen, Olen, Pirdop, Beerse, and Berango sites. Significant differences between Aurubis AG KPIs and Group KPIs are explained.

EU Taxonomy

BACKGROUND AND TARGETS

The European Union is committing to carbon neutrality by 2050. The EU Taxonomy (Regulation [EU] 2020/852 including the related delegated acts adopted as legally binding supplements to the Regulation) is a central element of the action plan for achieving this goal. As a classification system for ecologically sustainable economic activities, it is designed to create transparency for investors and stakeholders, prevent greenwashing, and thus increasingly direct financial flows into sustainable projects.

The EU Taxonomy comprises a total of six environmental objectives:

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

Technical screening criteria for selected economic activities were published for the first two environmental objectives in June 2021.¹ These economic activities fall under the scope of the EU Taxonomy. They are considered taxonomy eligible. If these activities fulfill the technical screening criteria set out in the EU Taxonomy, they are considered taxonomy aligned.

1 Regulation (EU) 2021/2178, Annex I.

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According to the EU Taxonomy, an economic activity listed in the delegated acts can be classified as ecologically sustainable or taxonomy aligned if the following conditions are cumulatively met:

• The economic activity substantially contributes to fulfilling an environmental objective (substantial contribution).
• The economic activity does no significant harm to any of the other environmental objectives (do no significant harm).
• Minimum standards regarding human rights including workers rights, bribery/corruption, taxes and fair competition are complied with (minimum safeguards).
• The economic activity fulfills the technical evaluation criteria.

Having focused on criteria for the first two environmental objectives ("Climate change mitigation" and "Climate change adaptation"), the Taxonomy has yet to address many activities at the time of the publication of this report. While the EU included additional taxonomy-eligible economic activities with regard to the four remaining environmental objectives through the delegated act published in June 2023, this cannot yet guarantee overall coverage of economic activities for all reporting entities as it now stands.

Furthermore, the implementation of the EU Taxonomy in companies is accompanied by considerable uncertainties due to the dynamic development and expansion of the EU Taxonomy requirements, along with different interpretations regarding the criteria and level of detail.

FIRST REPORTING ON TAXONOMY ALIGNMENT FOR FISCAL YEAR 2022/23

Aurubis has been required to apply and report in keeping with the EU Taxonomy reporting obligations since fiscal year 2021/22. In the previous year, the relief options granted were utilized and only taxonomy eligibility was analyzed with data collected and published.

The full contents of the report, including the assessment of taxonomy alignment with regard to the first two environmental goals, is being published for the first time for the 2022/23 fiscal year. Because the fiscal year differs, reporting on the changes to the first two environmental targets or on environmental targets three to six is not yet relevant for the 2022/23 reporting period.

AURUBIS' ECONOMIC ACTIVITIES

To assess taxonomy eligibility, Aurubis' activities are compared to the economic activities listed in the EU Taxonomy and as such defined as eligible. Aurubis' core activities are:

• The processing and utilization of complex concentrates and recycling raw materials
• The production of copper, copper products, and other non-ferrous metals and co-products

Economic activities not covered by the EU Taxonomy are listed as taxonomy non-eligible. These include Aurubis' core business. This applies to the "Climate change mitigation" and "Climate change adaptation" environmental objectives, along with the other four environmental objectives. It is, however, possible that the core activities might be included as taxonomy eligible in the coming years.

Aurubis' product portfolio includes intermediate products for a wide range of solutions for the use of renewable energies, energy- efficient applications, and low-carbon mobility. Even though these intermediate products are not covered by the EU Taxonomy, Aurubis views them as important drivers of the energy transition and essential to achieving Europe's climate targets. Since the EU Taxonomy has thus far focused on economic activities that are not included in the Aurubis product portfolio, only supporting economic activities and not those classified as belonging to the core business are classified as taxonomy eligible.

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TAXONOMY-ELIGIBLE ACTIVITIES AT AURUBIS

An economic activity is taxonomy eligible if technical screening criteria have been described for it per delegated act. Whether the descriptions of the activities set out in the act apply to Aurubis' economic activity is specifically assessed. The EU Taxonomy particularly includes primary economic activities that can make a direct contribution to climate change mitigation. It also defines enabling activities1 that directly contribute to improving the carbon balance or environmental performance of other activities, as well as transitional activities2 for which there is not yet a technically feasible and economical low-carbon alternative, but which support the transition to a carbon-neutral world.

Checklist-based interviews were conducted with all fully consolidated subsidiaries to identify Aurubis' taxonomy-eligible activities. For fiscal year 2022/23, seven EU Taxonomy activities from three different sectors were identified for Aurubis' economic activities and as such classified as taxonomy eligible:

1. Regulation (EU) 2020/852, Art. 16.
2. Regulation (EU) 2020/852, Art. 10 (2).

Economic activity	Description
4.25	Production of heat/	Construction and operation of facilities
	cool using waste heat	that produce heat/cool using waste heat
6.2	Freight rail	Purchase, financing, leasing, rental and
	transport	operation of freight transport on mainline
		rail networks as well as short line freight
		railroads
6.5	Transport by	Purchase, financing, renting, leasing and
	motorbikes,	operation of vehicles designated as
	passenger cars and	category M1, N1 [...] or L (2- and 3-wheel
	light commercial	vehicles and quadricycles)
	vehicles1
7.2	Renovation of	Construction and civil engineering works
	existing buildings	or preparation thereof
7.3	Installation,	Individual renovation measures consisting
	maintenance and	in installation, maintenance or repair of
	repair of energy	energy efficiency equipment
	efficiency equipment
7.4	Installation,	Installation, maintenance and repair of
	maintenance and	charging stations for electric vehicles in
	repair of charging	buildings (and parking spaces attached to
	stations for electric	buildings)
	vehicles in buildings
	(and parking spaces
	attached to buildings)
7.6	Installation,	Installation, maintenance and repair of
	maintenance and	renewable energy technologies on-site2
	repair of renewable
	energy technologies

1. The activity allocation of the vehicles purchased changed compared to the previous year from EU Taxonomy Activity 6.3 Urban and suburban transport, road passenger transport to 6.5 Transport by motorbikes, passenger cars and light commercial vehicles.
2. The activity allocation of the solar park projects changed compared to the previous year from EU Taxonomy Activity 4.1 Electricity generation using solar photovoltaic technology to 7.6 Installation, maintenance and repair of renewable energy technologies.

Aurubis Annual Report 2022/23