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CONTENTS WE ARE STULZ Founded in 1947 STULZ is a global provider of innovative, mission-critical cooling solutions. Letter from the Management The Partner You Can Count On – Then, Now and Tomorrow Managing Sustainability About STULZ Sustainable Products 03 We are STULZ 04 06 12 20 26 36 48 56 66 69 72 74 Good Employer About the Report Legal Information Resource-Efficient Production Responsible Supply Chain Key Performance Indicators GRI Content Index 2
FROM A SINGLE SOURCE. ALL OVER THE WORLD. Discover the world of STULZ → STULZ.COM Our core competencies ▪ Development, production, installation, start-up, servicing and maintenance of precision air conditioning units, chillers, air handling units, and micro data centers, plus solutions for liquid cooling for IT, data centers, medical technology, telecommunications systems and industry ▪ Sales and maintenance of comfort air conditioning systems and humidifiers, including water treatment for humidifying systems 8 production entities worldwide in Germany (headquarters), Spain, Italy, United Kingdom, China, India, Brazil and the United States To achieve this, we work with an exclusive sales and service network in 140 countries Employees STULZ Air Technology worldwide STULZ Group worldwide >4,000 approx. 8,200 Sales volume STULZ Air Technology worldwide STULZ Group worldwide € >950 million approx. € 1,700 million STULZ Sustainability Report 2025 3
LETTER FROM THE MANAGEMENT DEAR READER, As a global group, we run our eight production entities and more than 20 sales and service entities in close alignment with local markets and their specific challenges. We operate in a dynamic industry, which keeps evolving with new technologies and changing regulatory requirements. Throughout the years, STULZ has consistently been a reliable partner and has built up genuine expertise in sustainability over time. This is already our fourth Sustainability Report and the third with a global scope. The three previous years of global sustainability data now provide a solid basis for this reporting, as well as continuous improvements and enhancements. We continue to report in alignment with our four key priority areas: Sustainable Products, Resource-Efficient Production, Responsible Supply Chain and Good Employer, including an update on the progress, targets, data and initiatives behind each of them. This report features a new section, “The Partner You Can Count On – Then, Now and Tomorrow”: a closer look at STULZ in our evolving industry, with some interesting insights along the way. The STULZ product portfolio and customized solutions, shaped by our long-standing focus on energy efficiency, remain at the center of what we do. Our customers expect efficient, intelligent cooling solutions for high-performance computing. They increasingly design their data centers to run sustainably, and sustainability factors now play a key role in their decision-making. We are proud to play a vital role in this transformation. 4
About STULZ The Partner You Can Count On Managing Sustainability Sustainable Products Resource-Efficient Production Responsible Supply Chain Good Employer Key Performance Indicators Product carbon footprints and the existence of a climate strategy are increasingly decisive factors. Our climate strategy sets clear Scope 1 and 2 targets on the path to net zero. A global team works on making product carbon footprints available for several product lines. The F-gas Regulation remains a high priority in our industry. Supporting our customers through this transition is a key focus. We are aligning our product portfolio accordingly. We also adapt to new regulations such as the EU’s EmpCo Directive, which sets new requirements for communi- cating performance data. A wide range of data – from refrigerant consumption and staff statistics to supply chain data – is made transparent for us and our stakeholders. Reporting also covers topics less relevant to our business but expected in thorough ESG reporting, such as water consumption, which is low for our production. New issues within our industry, such as the circular economy, are also embraced. Beyond all the numbers, we also share examples from around the world of how we put sustainability manage- ment into practice. We again thank our global team for their continued effort and dedication. A thank you also goes to our readers, for your continued interest in sustainability matters at STULZ. Any questions or feedback are always welcome. Best regards, Jürgen Stulz Marc-Oliver Stulz Christoph Stulz Thorsten Weiss »Our customers expect clear figures and verifiable evidence – from product carbon footprints to a well-defined climate strategy. That expectation drives us to expand our data and processes further. It also strengthens STULZ’s position as a global company in a rapidly changing market.« Christoph Stulz, Managing Director STULZ Sustainability Report 2025 5
About STULZ The Partner You Can Count On Managing Sustainability Sustainable Products Resource-Efficient Production Responsible Supply Chain Good Employer Key Performance Indicators PRECISION COOLING FOR A CHANGING WORLD STULZ supplies products, solutions, and services for mission-critical cooling solutions, built on a commitment to precision, efficiency, reli- ability, and sustainability. Our portfolio extends from traditional Room and High Density Cooling to Chillers, Air Handling Units, Humidifiers, Micro Data Centers and Liquid Cooling. As a pioneer in cooling solutions for mission-critical applications and data centers, we deliver optimal solutions for every requirement in precision and comfort air conditioning as well as Liquid Cooling. Leading enterprises in industry, telecommuni- cations, banking, and retail rely on our product promise. As the exclu- sive sales partner for air conditioning systems from Mitsubishi Heavy Industries in Germany, we also offer products that ensure optimum climate control in small commercial buildings and households. Our multi- functional units, for both cooling and heating, combine excellent energy efficiency with low energy consumption. 50+ years of excellence in cooling technology Demand for precision cooling is shaped by developments across data centers, science, and medicine, among others. The rise of AI, both in estab- lished applications like pre- dictive control and monitoring, and increasingly in generative AI, is driving growing data and storage needs. At the same time, operators must manage rising data volumes while reducing environmental impact. Alongside this, we see growing demand for larger central data centers, even as small edge data centers become more decentralized, further accelerated by trends such as 5G and fiber optics. To remain competitive in this dynamic market, we invest in research and development, continuously adapting our portfolio to these market demands. Our solutions help deliver the infrastructure behind global digitalization and a more energy-efficient transformation of business. With subsidiaries and a major partner network across all continents, STULZ has a presence in over 140 countries. Today, STULZ is among the global market leaders in Direct and Indirect Free Cooling solutions. Our sales are exclusively B2B, serving enterprise customers, certified specialist firms in refrigeration, air conditioning, and heating, as well as data center planners and consultants. From development, manufacture, and installation to servicing and maintenance, STULZ covers the full value chain. A dedicated service team supports our precision and com- fort cooling units throughout their life cycle, backed by comprehensive after-sales support through a worldwide partner network. 31 subsidiaries, including 8 production entities worldwide Smart monitoring for critical environments STULZ Digital Solutions (SDS) develops embedded systems, long-term data acquisition, big data measurement, data analysis, and 3D data visualization. Our CyberHub ECO.DC solution monitors data center components and the surround- ing environment, including temperature, humidity, pressure, and energy, around the clock. Two brands, one portfolio We use the STULZ brand for our own products. Our S-Klima brand exclusively distributes premium climate systems from Mitsubishi Heavy Industries in Germany, complemented by its own products and STULZ humidification systems. At S-Klima, refrigeration and air conditioning com- panies are the most important customer groups. STULZ Sustainability Report 2025 7
STULZ PRODUCT OVERVIEW Every mission-critical environment has its own cooling and climate requirements. Our portfolio covers the full range, from precision air conditioning to Liquid Cooling, monitoring, and humidification, all tailored to our customers’ needs. AIR HANDLING UNITS CHILLER UNITS ROOM COOLING HIGH DENSITY COOLING LIQUID COOLING AIR HANDLING UNITS ROOM COOLING Mission-critical applications require the reliable, continuous removal of large heat loads, around the clock. STULZ precision air conditioning solutions are designed for 24/7 availability and efficient operation, even under high heat loads, with selected units offering Indirect Dynamic Free Cooling that utilizes outdoor air for highly efficient cooling. HIGH DENSITY COOLING High heat loads and hotspots on racks demand precise, efficient cooling with minimal use of space. STULZ direct rack cooling solutions are built for maximum, reliable performance. MONITORING Data center operators need full visibility across their infrastructure to ensure optimal performance and reliability. STULZ monitoring solutions track tem- perature, humidity, pressure, and energy consumption around the clock, using long- term data acquisition and 3D visualization. MICRO DATA CENTERS Growing IT demands often call for scalable resources that can be deployed quickly and cost-effectively. With Micro Data Centers, STULZ provides a complete solution in a single device, from upgrading mission- critical infrastructure to enabling edge computing. SHELTER COOLING Stand-alone applications such as modular buildings, containers, and base stations require cooling that is immediately ready for use. STULZ Shelter Cooling units follow a plug-and-play principle, ensuring contin- uous availability and precise configuration to customer needs for years to come. 8
About STULZ The Partner You Can Count On Managing Sustainability Sustainable Products Resource-Efficient Production Responsible Supply Chain Good Employer Key Performance Indicators MICRO DATA CENTERS HUMIDIFIERS CHILLER UNITS ROOM COOLING SHELTER COOLING MONITORING AIR HANDLING UNITS From small installations to hyper- scale data centers, projects require individually configured solutions for a wide range of requirements. STULZ Air Handling Units are manufactured for indoor and out- door use, offering custom-tailored solutions for efficient operation. LIQUID COOLING As heat loads rise, data centers increasingly require efficient, well-integrated liquid cooling infrastructure. STULZ offers manu- factured and tested Liquid Cooling systems alongside individual climate units, with design, consult- ing, installation, and maintenance all from a single source. CHILLER UNITS Data centers and industrial buildings need maximum reliability and energy efficiency, regardless of local temperature conditions. Designed and manufactured under strict conditions, STULZ Chiller Units deliver efficient, reliable performance, 24 hours a day, 365 days a year. HUMIDIFIERS Optimally conditioned air is essential across a wide range of professional environments and applications. STULZ humidification systems provide tailor-made solutions for consistent, reliable conditions, wherever precise humidity control is required. STULZ Sustainability Report 2025 9
OUR SUBSIDIARIES PRODUCTION ENTITIES USA UK GERMANY STULZ Modular Ltd. in Oxford ▪ Founded in 2016 ▪ Development, production and distribution of Micro and Modular Data Centers STULZ Air Technology Systems Inc. in Frederick (Maryland) ▪ Founded in 2001 ▪ Development, production and distribution of Room Cooling equipment for the US market ▪ Production of CyberWall and other large-scale systems for data center cooling ▪ Assembly of CRAH and Fan Wall products in Dayton, Tennessee ▪ New site in Denton County, Texas, opened in 2025 STULZ GmbH in Hamburg ▪ Founded in 1947 ▪ Headquarters of the international air conditioning technology orga- nization in Hamburg ▪ Development, production and distribution of Room Cooling, High Density Cooling and Chillers STULZ Digital Solutions GmbH in Hamburg ▪ Founded in 2014 ▪ Software development site BRAZIL SPAIN ITALY STULZ Brasil Ar Condicionado Ltda. in Sorocaba ▪ Founded in 2015 ▪ Production for the Brazilian market STULZ Tecnivel S.L.U. in Madrid ▪ Founded in 2016 ▪ Development, production and distribution of Air Handlers, CyberWall units and heat exchangers STULZ S.p.A. in Valeggio sul Mincio ▪ Founded in 1989 ▪ Development, production and dis- tribution of air conditioning units and Chillers for the IT industry and the telecommunications sector 10
About STULZ The Partner You Can Count On Managing Sustainability Sustainable Products Resource-Efficient Production Responsible Supply Chain Good Employer Key Performance Indicators SALES AND SERVICE ENTITIES AUSTRALIA STULZ Oceania Pty Ltd. and STULZ Oceania (Power) Pty Ltd in Sydney AUSTRIA STULZ Austria GmbH in Wiener Neudorf BELGIUM STULZ Belgium BVBA in Brussels BRAZIL Dala Service Ar Condicionado Ltda. in São Paulo CHINA STULZ Air Technology and Services Shanghai Co., Ltd. in Shanghai FRANCE STULZ France S.a.r.l. in Rueil Malmaison INDONESIA PT STULZ Air Technology Indonesia in Jakarta MALAYSIA STULZ Malaysia Sdn. Bhd. in Iskandar Puteri MEXICO STULZ México S.A. de C.V. in Mexico City NETHERLANDS STULZ Groep B.V. in Hoofddorp NEW ZEALAND STULZ Oceania Ltd. in Auckland POLAND STULZ Polska Sp. z o.o. in Warsaw SINGAPORE STULZ ASIA HUB Pte. Ltd. and STULZ Singapore Pte Ltd. in Singapore SPAIN STULZ España, S.A. in Madrid STULZ Aragón S.L. in Zaragoza SOUTH AFRICA STULZ South Africa Pty. Ltd. in Gauteng SWEDEN STULZ Nordics AB in Stockholm covering Sweden, Norway, Denmark and Finland THAILAND STULZ Siam Co., Ltd. in Bangkok UK STULZ UK Ltd. in Surrey Production entities Sales and service entities UNITED ARAB EMIRATES STULZ Emea Center of Excellence – FZCO in Dubai STULZ Sustainability Report 2025 11 CHINA STULZ Air Technology and Services Hangzhou Co., Ltd. in Hangzhou ▪ Founded in 2013 ▪ Development, production and distribution of products for the Chinese and Asian markets INDIA STULZ-CHSPL (India) Pvt. Ltd. in Mumbai ▪ Founded in 2006 ▪ Development, production and distribution of local products for the Indian and Asian markets
FOUNDED IN HAMBURG. GROWN WITH THE MARKET. THE BEGINNING From its beginnings as a family-run business in Hamburg, STULZ has grown into a global provider of precision cooling solutions. Over the decades, the company has expanded its expertise, international presence, and capabilities, always guided by a forward-looking approach to emerging trends. Founded 1947 in Hamburg 1970s A DECISION THAT SET THE COURSE When the first computers began transforming the world, STULZ saw the shift coming early. Data centers were still a new concept at the time, and STULZ committed to precision cooling for mainframe computers. It was a business decision made before the market even existed, one that would set the company’s direction for decades to come. 12
The Partner You Can Count On – Then, Now and Tomorrow In 1970, betting on data centers was anything but a given. 1990s STULZ brought a new approach to the industry with its Modular Line, which offered a modular and space-saving design with CRAC/CRAH. 1977 With modular precision air conditioning systems, STULZ established itself as an international specialist. It set a standard that would go on to shape the industry. 1980s The concept of Free Cooling emerged due to increased environmental awareness. STULZ launched the first automatic climate control system to use outside air for cooling. Less energy – the same performance. STULZ Sustainability Report 2025 13
PRECISION COOLING. WORLDWIDE. COOLING REIMAGINED: FROM CYBERAIR TO LIQUID COOLING Better cooling means using less energy, lowering costs and environ- mental impact alike. At STULZ, that starts with a commitment to finding the most efficient technical solution for every customer. As early as the 1980s, the first Free Cooling systems cut energy consumption by more than 90%, setting the benchmark for everything that followed. Production entities in 8 countries Present in 140 countries 150 partners worldwide 2008 The CyberAir 2 was the world’s first precision air conditioning system with automatic mode selection. This made STULZ the technology leader in Indirect Dynamic Free Cooling. 2003 STULZ was the first provider to use EC fans as standard, making cooling units significantly more efficient than conventional units with AC fans. STULZ has always turned early insight into real solutions, in fields ranging from energy efficiency and refrigerants to noise reduction. 14
The Partner You Can Count On – Then, Now and Tomorrow 2024 With the Coolant Distribution Unit (CDU), STULZ launched a solution that responds to the sharp rise in heat loads driven by AI applications. This paved the way for Liquid Cooling at scale, giving modern data centers the cooling capacity they now need. The unit that keeps data centers running CyberAir 3PRO is the result of more than three decades of project experience worldwide. It is the flagship for classic data center cooling, developed to inter- national standards. It cools precisely, runs efficiently, and operates reliably around the clock, around the globe. Refrigerants in transition The F-gas Regulation is driving the shift to refrigerants with lower global warming potential. STULZ already offers customers alternatives: R1234ze (GWP 1.37) and R454C (GWP 148) are available, with work on R290 (GWP 3) in progress. Traditional refrigerants are more efficient, natural refrigerants more environmentally friendly, though some of the latter are flammable or toxic. STULZ develops the best solution in each case and provides the necessary safety concepts. STULZ Sustainability Report 2025 15 Since the early 2010s computing power has doubled every two to three years, and heat loads have grown with it. Traditional room-based air cooling reached its limits. STULZ responded with CyberRow, cooling higher loads directly at the rack, right where the heat is generated.
READY FOR TODAY. READY FOR TODAY. BUILT FOR THE FUTURE. BUILT FOR THE FUTURE. FUTURE-READY COOLING FOR AI, EFFICIENCY, AND SUSTAINABLE PERFORMANCE From the rapid rise of AI to the transition toward more sustainable refrigerants, data center cooling is entering a new era. STULZ addresses today’s requirements while anticipating tomorrow’s challenges — with hybrid cooling solutions that combine performance, sustain- ability, and regulatory readiness. Together with our customers, we pursue the same goal: greater energy efficiency for future-ready cooling. Same goal, different levers The amount of energy needed to run our units is considerable. What counts as Scope 1 or Scope 2 for our customers (emissions they cause directly, or through the energy they purchase) counts as Scope 3 for STULZ: indirect emissions that only arise once our products are in use at the customer’s site. The same energy consumption, just seen from two different perspectives, and the same goal, pursued through different levers. STULZ raises unit efficiency, an effect that compounds over a decade and grows larger still on renewables, a choice our customers steer. Low-GWP refrigerants are another lever we’re advancing jointly. STULZ Scope 3 emissions = Customers’ Scope 1+2 emissions STULZ Scope 3 = Customers’ Scope 1+2 Shared interest Shared solution = Together, less Shaping the next step Under the F-gas Regulation, classic high- GWP refrigerants are being phased out step by step, the refrigerants that have long stood for maximum cooling perfor- mance. Natural refrigerants like R290 are set to take their place. The question is not if, but when and how they will match that performance. Until then, it’s worth using the transition phase, while there is still more room to choose the right refrigerant. STULZ keeps an eye on upcoming regula- tions, evolving customer requirements, and the need for more sustainable solutions. With in-depth technology expertise and proven project experience, we help customers make the right decisions early on — for reliable performance, regulatory readiness, and a more responsible use of resources. Low-GWP refrigerants are already part of our portfolio today, with more to come as the market develops. 16
2025 + The Partner You Can Count On – Then, Now and Tomorrow What counts as top performance today will be standard by 2030. We’re building for that now. AI NEEDS A NEW WAY TO COOL High-performance AI systems generate heat loads that push air cooling to its physical limits. Current graphics processors are driving data center power densities to 125–140 kW per rack, with projections pointing toward scaling up to 600 kW per rack within the next years. To handle this increase, CDUs are already being designed for cooling capacities of over 1 MW today. Liquid is up to 1,000 times more efficient at conducting heat than air. Liquid Cooling is therefore no longer optional, it’s a requirement. But performance is only part of the equation. As AI advances, so does the need for cooling solutions that combine high performance with greater sustainability. Innova- tive, energy-efficient technologies help data center operators support growing computing demands while progressing toward their net-zero goals. Our current answer to this challenge: STULZ offers solutions tailored to your individual requirements – whether you are planning a new system or expanding an existing one, our team will work with you to plan and implement your application. In this process, Air Cooling and Liquid Cooling work hand in hand. Ready for the future: STULZ CyberCool CDU for high power densities The STULZ Coolant Distribution Unit for Liquid Cooling in high-performance data centers, suitable for both direct- to-chip and immersion cooling solutions. Rated heat exchange: over 1 MW PUE < 1.1 –45% energy consumption compared to conventional air cooling STULZ Sustainability Report 2025 17
TRUSTED EXPERTS. RELIABLE PARTNERS. AN INTERVIEW ON INNOVATION, RESPONSIBILITY, AND FUTURE-READY COOLING Thorsten Weiss, CFO of STULZ and Norbert Wenk, Head of Global Product Management at STULZ answer questions on technology and sustainability in our company. Norbert Wenk (left) and Thorsten Weiss (right) STULZ has been active in data center cooling since the 1970s. What does that depth of experience mean for your customers today? Thorsten Weiss: More than fifty years in this business have given us a very practical kind of experience. We have seen several technology cycles come and go, not from a distance, but through real projects, in different climate zones and markets all around the world. For our customers, that means they are not just buying a product. They are benefit- ing from decades of knowledge gained, lessons learned, and hands-on experi- ence of what really works. AI is putting enormous pressure on data center infrastructure. What helped STULZ recognize this shift coming so early? Thorsten Weiss: Liquid Cooling was not a reaction to something we started because of the AI wave. We had already been developing and implementing these solutions years before this level of demand appeared. Today, we can look back on more than 250 Liquid Cooling projects worldwide. Their full relevance is becoming clear now, as AI pushes data centers beyond what air cooling alone can realistically handle. In many ways, this reflects the same principle that has guided STULZ since we entered the data center market in the 1970s: we build for what is coming next. 18
The Partner You Can Count On – Then, Now and Tomorrow How are Liquid Cooling and Air Cooling developing in the market, and how does STULZ support cus- tomers in finding the right fit? Norbert Wenk: Liquid Cooling is the right answer for high-density, AI-driven workloads. But it isn’t pushing Air Cooling aside. Fully air-cooled DCs will remain important over the next years in all parts of the world. Overall, the two technologies mostly run in parallel rath- er than one replacing the other. That’s why we design around the site, using system design and airflow simulations to see what actually fits, whether that’s a new data center built around Liquid Cooling from day one, or an existing one that we help upgrade step by step, without a full rebuild. Being present in these markets ourselves is what makes that judgment reliable, not just theo- retical. How does STULZ help customers keep their operations aligned with environmental legislation like the F-gas Regulation? Norbert Wenk: The latest version of the F-gas Regulation has been in force since the start of this decade, but it’s now entering its sharpest phase yet: common and established refrigerants like R410A are under growing pressure and will need to be phased out. We already have alternatives ready for our customers, both natural refrigerants and A2L options like R454C. We also validate new setups under real condi- tions in our own test centers. And our global network of 150 partners keeps us close to market conditions and regu- lations around the world, which differ by country and region and keep shifting. Together, this is what lets us find the best transition path with each customer, helping them stay compliant without having to track every regulatory change themselves. How does sustainability at STULZ fit into these technical developments? Thorsten Weiss: For us, sustainability has always been closely connected to technology. We were making our units more energy-efficient long before sustainability became a major topic in the industry. What has changed is the scope. Today, sustainability is much broader and more demanding. Trans- parency, supply chain data, emissions reporting, and product carbon foot- prints have become key topics for many of our largest customers. That is why we treat sustainability as a global task across the group, not as a separate add-on topic. In practice, our customers have to balance many differ- ent factors when planning data center infrastructure. The environmental impact is one of them, but so are safety, performance, available space, available resources, and economic viability. Our role is to work with customers to find a solution that fits best: technically strong, sustainable, and commercially viable. One example is the work you do with customers on CO2 emissions. Why is that so important, and what exactly happens there? Norbert Wenk: Our Corporate Carbon Footprint shows it clearly: most of our emissions happen in the use phase of our products, once a unit has left our factory and is running in a customer’s data center. That large share is partly due to the way we are required to calculate it by the GHG Protocol. For Scope 3 we count a unit’s emissions over its entire expected lifespan, so a unit sold in 2025 carries its emis- sions over the following 10.6 years into our 2025 footprint. Whatever the accounting behind it, the scale is real. That’s exactly why we focus so much on reducing these emissions together with our customers. The same emissions count as their Scope 1 or Scope 2. When we ran the numbers on switching to green energy, the effect turned out to be huge. So it matters enormously to know what drives how much, and to work out together who’s responsible for what. That’s one side of it, the use- phase and Corporate Footprint level. Customers increasingly also ask us for Product Carbon Footprints, something we’ve put real time and resources into. Circularity and end-of-life are examples of what’s coming next, and this trans- formation reaches well beyond any single lever. What does it actually mean to be a reliable partner, especially when requirements are changing so fast? Norbert Wenk: In mission-critical cooling, being a reliable partner means one thing above all: showing up before the problem does, not after. That runs through everything we do, from development and planning to installation and service, and it’s exactly what our organization is built for. With a presence in over 140 countries, we’re there when something needs solving, not scrambling to catch up. And when requirements shift as fast as they do now, that same principle carries us: we’re set up to anticipate what cus- tomers will need next, on compute demands or sustainability, long before it becomes urgent. Looking ten years ahead, what do you think will feel completely normal but is not yet standard today? Thorsten Weiss: The hybrid data center will feel completely normal. Air cooling and Liquid Cooling will work together intelligently within the same system, with each technology handling the heat loads it is best suited for. Instead of forcing one solution to do everything, the future will be about making the interaction between the two technologies as efficient as possible. Sustainability will also be much more intertwined than it is today. Right now, many topics are still managed separately: refrigerants, GWP, green energy, materials, product footprint, and circularity. In ten years, I believe all these elements will be seen much more as one system. For STULZ, the goal is to participate in this industry-wide evolution by still offering leading tech- nologies, solutions that make economic sense, and driving progress that works for our customers as well as for the environment. STULZ Sustainability Report 2025 19
MANAGING SUSTAINABILITY ▪ Organizational structure for ESG management ▪ Guidelines and standards for ESG governance ▪ Material topics ▪ Our stakeholders ▪ Memberships and cooperations 20
About STULZ The Partner You Can Count On Managing Sustainability Sustainable Products Resource-Efficient Production Responsible Supply Chain Good Employer Key Performance Indicators ORGANIZATIONAL STRUCTURE FOR ESG MANAGEMENT Our progress in sustainability management and reporting is the result of the joint effort of many players. Our Sustainability Team, based at the German headquarters, initiated this process and continues to lead its development. It is headed by representatives from Product Management and Environmental/Quality Management. The Sustainability Team analyzes and implements internal and external requirements in ESG (Environment, Social, Governance). At the headquarters in Germany, various departments, such as Marketing, Product Management, Purchasing, and HR, contribute data and content to the report and are themselves responsible for this content and its ongoing development. Ultimately, STULZ Executive Management is responsible for managing our sustainability efforts, including future tasks such as setting goals, allocating resources, and complying with regulatory requirements. It also functions as the highest governance body. Critical concerns directed to the company are addressed through our regular management processes, which include reviews at this level. The Steering Committee acts as a link between the Sustainability Team and Executive Management, taking strategic decisions on its behalf and approving the Sustainability Report. Our Sustainability Team holds weekly meetings with the Steering Com- mittee, which includes a member of Executive Management and the Global Head of Product Management. Representatives from all production entities and sales and service entities are assigned to work with the Sustainability Team on reporting content. At a decentralized level, they coordinate the work together with their local management. Across the global organization, international entities build structures according to local needs. One example is the Works Council in Germany, representing the interests of our workers in accordance with the German Works Constitution Act. It currently consists of five women and eight men and monitors compliance with legislation, collective bargaining agreements, and works agreements. 74% of our employees in Germany are covered by collective bargaining agreements or works agreements. The Works Council organizes working committees and is engaged in legal issues, anti-discrimination, equality, social bene- fits, and environmental concerns. Production entities are collaborating more and more closely, with the Sustainability Team initiating and steering working groups on specific topics, such as product carbon footprints or measures on environmental management across entities. This organizational structure originated during our reporting processes and continues to evolve, for example around topics such as occupational health and safety and waste management. Our production entities work with the management systems shown alongside. Management systems at production entities ISO 9001 Quality management ▪ NEW: STULZ USA* ▪ STULZ Brazil ▪ STULZ China ▪ STULZ Germany ▪ STULZ India ▪ STULZ Italy ▪ STULZ Tecnivel (Spain) ▪ STULZ Modular (UK) ISO 14001 Environmental management ▪ STULZ China ▪ STULZ Germany ▪ STULZ India ▪ STULZ Italy ▪ STULZ Tecnivel (Spain) ▪ STULZ Modular (UK) ISO 50001 Energy management ▪ STULZ Italy ISO 45001 Occupational health and safety management ▪ STULZ China ▪ STULZ India ▪ STULZ Modular (UK) * The sites Frederick, MD and Dayton, TN have been ISO 9001 certified since 2025. STULZ Sustainability Report 2025 21
GUIDELINES AND STANDARDS FOR ESG GOVERNANCE STULZ has committed, at the highest level, to acting responsibly and sustainably, and to treating people and the environment with the greatest care. We attach particular importance to respect for human rights and are committed to complying with internationally recognized standards such as the ILO Core Labor Standards and the OECD Principles. High quality standards have been defined for our products in terms of safety, data protection, health and safety, and environmental protection. Our fundamental obligations are embedded in guidelines, such as security and data protection management and corporate conduct, and in quality and environmental policies. These commitments have been established by our Executive Management and are shared with employ- ees and stakeholders through our internal communication channels. The implementation and monitoring of compliance with these guidelines are the responsibility of the area managers. We have established Codes of Conduct across the worldwide STULZ organization, which set out clear ethical standards and behavioral guide- lines. In some cases, these are supplemented locally by additional policies to fulfill specific national or international requirements, for example on anti-discrimination. Our German headquarters has published a Code of Conduct for Suppliers, applicable to its own supplier relationships, to set ethical standards in the supply chain. Through regular due diligence of voluntary commitments, we work to ensure that our business activities and supply chain conform to high ethical, social and ecological standards. This is driven from our German headquarters. Across our global STULZ organization, practices and degrees of formalization vary from one entity to another. We strive to extend the systematic monitoring and prevention of potential ESG risks across the organization, with efforts underway to align and further develop approaches, guidelines, and practices on topics such as human rights, environmental protection, and business integrity. Risk management, environmental and energy management, quality management and occupational health and safety management are an established part of our everyday practice. Moreover, at several sites we have introduced a whistleblower system, which gives our workforce and, in some cases, third parties the opportunity to report concerns anony- mously, to effectively identify and tackle potential problems or violations of our guidelines and standards. OUR COMMITMENT TO THE SDGS The United Nations approved the 17 Sustainable Devel- opment Goals (SDGs) in 2015, to be achieved by 2030. All players – including corporations – are invited to make their contribution. At STULZ, we substantially contribute to these three SDGs with our products and other sustainability activities. -> SDGS.UN.ORG/GOALS 22
About STULZ The Partner You Can Count On Managing Sustainability Sustainable Products Resource-Efficient Production Responsible Supply Chain Good Employer Key Performance Indicators MATERIAL TOPICS The identification of our material topics lays the foundations for informed reporting and effective sustainability management at STULZ. These topics are strategic priorities for the company and form the basis for the continuous development of our sustainability management program. The material topics were initially defined for our first Sustainability Report in Germany, in close consultation with Executive Management. They were reviewed through consultation with all entities and confirmed as relevant for the entire company in our first global Sustainability Report, published in 2024 for the 2023 fiscal year. To define our material topics and subtopics, we drew on external market analyses, covering customers, suppliers, competitors, and regulatory requirements, to understand what is expected of STULZ. We comple- mented this with internal analyses, including surveys and the review of internal documentation, to assess STULZ’s impact on ESG topics. Together, these formed the overarching framework we continue to work with today. We complement this with more targeted, topic-specific analyses where relevant, for example on requirements related to supply chain or climate management. Our four material topics cover several specific aspects, which we describe in detail in the respective chapters. »Since its inception, data gathering for our Sustainability Reports and the carbon footprint has developed into an annual reporting process. From this base, we are starting to address broader topics together. We exchange knowledge, develop solutions, and work out approaches that serve both our company- wide goals and local, decentralized ESG priorities. This progress reflects our strong and motivating collaboration.« Jan-Lucas Kinne and Ludger Ecke, Sustainability Team, STULZ Germany, HQ Four material topics with specific aspects Sustainable Products ▪ High quality and safety standards ▪ Energy efficiency ▪ Low GWP and natural refrigerants ▪ Circular economy Resource-Efficient Production ▪ Diligent energy consumption and energy saving ▪ Reduction of greenhouse gases ▪ Efficient water use ▪ Waste prevention, reduction and reuse ▪ Careful handling of hazardous materials ▪ Resource-efficient logistics Responsible Supply Chain ▪ Ethics and compliance ▪ Responsible purchasing ▪ Managing our supply chain Good Employer ▪ Occupational health and safety ▪ Training and career management ▪ Diversity, equality and inclusion ▪ Modern work environment STULZ Sustainability Report 2025 23
OUR STAKEHOLDERS Our stakeholders were initially identified as part of our ISO certification process (ISO 14001) at our German headquarters. As part of our material topics review, we assessed whether these groups – customers, suppliers, the general public, and employees – can also be applied internationally. We confirmed their relevance to STULZ’s global business activities. Among these four, we currently do not identify any vulnerable groups or groups requiring particular protection. We regularly review the expec- tations and concerns of our stakeholders and incorporate the findings into the regular review of our material topic processes and into strategic decision-making on sustainability. Our stakeholders and their expectations ▪ Customers, including many large, international companies, are demanding greater transparency regarding our efforts toward sustainability. They want long-lasting, energy-efficient products and reliable services. Customers also expect STULZ to align with political framework conditions, such as conditions governing climate protec- tion and the supply chain, for example. ▪ Suppliers play an essential role for stable, reliable supply chains, which are vital to our success. Reliability and partnership are valu- able assets on which our relationships should be based. ▪ The general public covers various institutions and individuals, for example at our sites and in the business environment. Their expectations are extremely diverse and multifaceted. Here at STULZ, we want to act reliably, with commitment and integrity. ▪ Employees expect STULZ to be an attractive employer, offering opportunities for progression, and with high standards of occupa- tional health and safety. Other requirements are job security, independent working and reliable, transparent communication. How we communicate with stakeholders ▪ Sustainability Report: Our international framework for regularly and transparently informing stakeholders about our sustainability commitment. -> STULZ: SUSTAINABILITY REPORT ▪ Website: Global activities and communications on the STULZ websites, helping cus- tomers make informed decisions, for example on energy-efficient products. -> STULZ: PRODUCTS ▪ Social Media: Explaining technological develop- ments and keeping readers informed about our products and services. ▪ Events and Trade Fairs: Participation in industry events and trade fairs, as well as events within our global organization. ▪ Direct Dialog: Regular conversations with customers and suppliers to coordinate on sustain- ability topics. 24
About STULZ The Partner You Can Count On Managing Sustainability Sustainable Products Resource-Efficient Production Responsible Supply Chain Good Employer Key Performance Indicators MEMBERSHIPS AND COOPERATIONS STULZ is a member or associate of various industry-related organizations across the countries we operate in. With these commitments, we want to actively move forward with changes and advances in our industry, develop innovative solutions, and contribute to advancing sustainability in the air conditioning industry. → STULZ: ASSOCIATIONS | INDUSTRY PARTNERSHIPS & MEMBERSHIPS Examples of our memberships and cooperations The FGK (Fachverband Gebäude- Klima e. V.) is a leading industrial association for air conditioning and indoor air quality in Germany. It advocates for the interests of our industry with market partners, politicians, standardization insti- tutes and the scientific community. Our US entity is a member of ASHRAE, a global society advancing human well- being through sustainable technology for the built environment. STULZ is also associated with ASHRAE Technical Committee TC 9.9, which is concerned with all aspects of mission-critical facilities, data centers, technology spaces, electronic equipment and systems. Across Europe, we cooperate with the EN 50600 series, a framework of standards and technical reports covering the design, operation and management of data centers. STULZ is a member of the German federal association bwp (Bundes- verband Wärmepumpe e.V.), which is committed to establishing heat pumps as an efficient renewable air conditioning solution. STULZ S.p.A. in Italy engages with ASSOCLIMA – Costruttori Sistemi di Climatiz- zazione. This is the Italian association federated with Anima Confindustria, which represents manufacturers of heating, ventilation and air conditioning systems for buildings and industrial processes. Several STULZ Modular (UK) employees hold individual accreditations from the Uptime Institute, the standard bearer for digital infrastructure performance. This reflects the team’s investment in professional development and independently recognized expertise in data center design. STULZ Sustainability Report 2025 25
SUSTAINABLE PRODUCTS ▪ High quality and safety standards ▪ Energy efficiency ▪ Low GWP and natural refrigerants ▪ Circular economy 26
About STULZ The Partner You Can Count On Managing Sustainability Sustainable Products Resource-Efficient Production Responsible Supply Chain Good Employer Key Performance Indicators SUSTAINABILITY IN OUR PRODUCTS AND SOLUTIONS Sustainability in our products and solutions is driven by a growing number of regional and local regulations, and is increasingly demanded by our customers. In practice, it plays out through topics such as energy efficiency and refrigerant use. In Europe, the F-gas Regulation is the most relevant regulatory frame- work. It drives a steady phase-out of climate-damaging refrigerants, which impacts our product design and refrigerant selection. Further restrictions on the use of refrigerants with a stronger warming effect will take effect in 2027, adding to the requirements already in place. The Regulation also requires specific compliance and reporting. Beyond the European Union, other countries take their own approach to refrigerant regulation. Norway and Switzerland, for example, have adopted rules closely aligned with the EU’s F-gas Regulation. In Singapore, the Green Mark for Data Centres scheme drives higher energy-efficiency and sustainability standards, reinforcing the impor- tance of high-efficiency cooling products and systems in reducing the overall energy consumption of data centers. Our customers, especially large data center operators and industrial or commercial enterprises, expect us to manage a broad range of sus- tainability topics that go beyond refrigerants. These expectations have some similarities across the global organization and increasingly include transparency about how we manage certain aspects. Examples of product-related information requests include carbon footprint data and energy-efficiency data for products, information on recycled materials used, minimum life cycle requirements, and transparency concerning policies and objectives such as governance, climate protection and refrigerants. Energy efficiency is a particularly relevant topic for our customers, since the energy needed to operate our products matters most, especially for data centers. Yet efficiency claims need to be specified and compara- ble, and there are currently only isolated, local institutions or standards that independently test the efficiency of equipment for this application. As a result, market-based comparisons of the energy efficiency of air conditioning units are not yet fully achievable. One key indicator in this field is PUE (Power Usage Effectiveness): the smaller the PUE, the more efficiently energy is used. Even without full market-wide comparability, we can point to concrete performance data for individual products. For example, certain heat pumps and air conditioning units from the S-Klima range, which exclu- sively distributes climate systems from Mitsubishi Heavy Industries in Germany, have proven performance indicators (Seasonal Coefficient of Performance, SCoP) that meet the stringent criteria for government funding for installation in private households. In the European market, the Eurovent certification, confirmed by an independent test laboratory, verifies the technical data and efficiency values of our products from Mitsubishi Heavy Industries. F-gas Regulation at a glance The refrigerants used in STULZ products, and ultimately in our customers’ systems, are directly affected by the F-gas Regula- tion. Here are the most important facts: ▪ F-gas Regulation (EU) 2024/573, in force since March 11, 2024 ▪ Goal: phase-down of hydrofluorocar- bons (HFCs) placed on the EU market, working toward a full phase-out by 2050 ▪ Next milestone: from 2027, stricter GWP limits for new air conditioning equipment and heat pumps ▪ Includes licensing and registration for refrigerant imports and exports via the EU F-gas Portal STULZ Sustainability Report 2025 27
HIGH QUALITY AND SAFETY STANDARDS Quality is built into our products from the start. Almost all STULZ pro- duction sites have their own Test Center for testing products, functions and prototypes. Our production sites have management systems cer- tified according to the ISO 9001 quality standard. This includes design verification and production-related inspections, as well as our supplier management. As data centers expand into denser, more urban environments, acoustic performance is becoming an additional quality criterion, alongside capacity and energy efficiency. Larger and more powerful cooling systems can have a significant impact on their surroundings, especially where strict nighttime noise limits apply. We address this by building noise reduction into chiller design from the start: large surface area condensers, oversized EC fans running at lower speeds, encapsulated compressors, and airflow optimized through detailed simulation of how air moves through the system. The result is cooling equipment designed to perform quietly without sacrificing capacity. Our units are designed for continuous, reliable operation 24/7/365, taking into account the requirements of ASHRAE (American Society of Heating, Refrigerating and Air-Conditioning Engineers) for efficient data center operation. When developing our units, we aim for a service life of 10 to 15 years, though some equipment has been running reliably for as many as 20 years. Our units are service-friendly, with simple replace- ment of wearing parts, and can, in individual cases, easily be converted to suit changed operating conditions. Remote monitoring via a Building Management System further supports safe, reliable operation and often removes the need for a service engineer on site. We are also modern- izing our after-sales processes, from order entry to end-of-life support, with new ticketing and service-level systems in Germany and the USA. Beyond in-house testing, our products and solutions also satisfy the highest quality standards expected by our customers and comply with relevant European regulations. This applies to our own STULZ brand as well as the products under the S-Klima brand. We meticulously monitor the product certificates provided by our suppliers to make sure all requirements are met. Chief among these regulations are the CE Declaration of Conformity, the Energy Efficiency Directive, the Ecodesign Directive, the F-gas and REACH Regulations and the RoHS Directive, and the European Machinery Directive. Directives on the leak-tightness of refrigerant circuits were also adopted as part of the Kyoto Protocol and the Paris Agreement on climate change. Our units bear a special label as proof that they have passed the leak test. With the CE label, we declare compliance with safety and quality standards according to European standards and directives. Cooling that doesn’t disturb the neighbors As some data centers move into urban environments, noise is becoming a real design constraint, especially for rooftop installations in densely built areas with strict nighttime limits. A recent project illustrates this well. The cooling system developed by STULZ S.p.A. in Valeggio sul Mincio had to meet a maximum nighttime noise limit of 80.2 dB(A), roughly compa- rable to a quiet residential street at night, while still delivering full, continuous cool- ing performance. STULZ developed a chiller with an integrated noise attenuation system for this configuration, in collaboration with Merford, a specialist in acoustic solutions. Tested under real operating conditions following EN ISO 9614-2, a standard for measuring sound power levels using sound intensity, the chiller met the required noise limit while delivering full cooling performance. Certified quality in Germany STULZ GmbH holds a certificate that attests to both the high quality of our units and their energy efficiency. As part of this seal of approval, we have committed to providing spare parts for all our equipment for at least ten years after discontinuation of the product. 28
About STULZ The Partner You Can Count On Managing Sustainability Sustainable Products Resource-Efficient Production Responsible Supply Chain Good Employer Key Performance Indicators MEASURING PRODUCT CARBON FOOTPRINTS Carbon footprint data and other environmental impacts over a product’s life cycle are becoming increasingly important to our customers and other stakeholders. Product carbon footprints are emerging as a new standard for data center operators, giving them a more accurate picture of their application’s CO2 footprint than spend-based calculations can provide. We conducted an Environmental Product Declaration (EPD) for one of our flagship products, the CyberAir 3PRO DX, based on ISO 14025. The results served as a basis for embodied carbon calculations for further devices in the product line. These calcu- lations were carried out using TM65, a pragmatic methodology based on conservative assumptions, developed by CIBSE (Chartered Institution of Building Services Engineers). A full EPD for every product in our portfolio would currently go beyond what is practical, given the high degree of variance across our range. We can already provide initial footprints for specific product groups, and are working to scale this further. For the CyberAir 3PRO DX (cooling capacity: 37.1 kW), we broke down carbon emissions (Global Warming Potential, GWP) by life cycle stage, cradle-to-gate including transport to the customer, based on 2024 data: PRODUCT GHG EMISSIONS BEFORE USE CYBERAIR 3PRO DX Total Raw material extraction Manufacturing Transport to the customer Transport to STULZ 3,590 kg CO2e 92% 4% 3% <1% Raw material extraction is the clear hotspot from this analysis. Looking at the broader picture across the CyberAir 3PRO DX’s full lifetime, energy use and refrigerants during operation typical- ly account for the larger share of emissions, making them the two biggest levers for reducing its footprint. We encourage our customers to switch to renewable electricity to lower emissions from energy use during operation. Production-related emissions, known as embodied carbon, make up a larger share of what remains, and this is exactly where our EPD analysis provides value: it helps us understand and act on the part of the footprint that stays within our sphere of influence. STULZ Sustainability Report 2025 29
Free Cooling: A proven lever, still delivering Free Cooling has been one of our most effective energy-efficiency levers for decades, and it remains highly relevant today. Free Cooling is possible year-round, especially taking into account the increas- ing water temperature levels in chilled water systems. It uses the outside air instead of mechanical cooling, cutting energy consumption and operating costs significantly. High-efficiency air conduc- tion supports this further: by designing heat exchanger surfaces that are as large as possible and decreasing air-side pressure losses, we exploit the available efficiency potential to the fullest extent. Our CyberCool Explorer WS chiller is a good example, purpose-built for data cen- ter cooling with integrated Free Cooling for high energy savings. In these chillers, we also use low-GWP refrigerants such as R513A or R1234ze, further reducing the climate impact of operation. 30 ENERGY EFFICIENCY Our industry has an important role to play in reaching environmental and climate goals. At STULZ, we want to contribute through our products. We design our precision air conditioning units for efficient energy use, for example through optimized heat exchanger and filter surfaces, air conduction and component design, as described below. This supports lower operating costs for our customers and, depending on their elec- tricity mix, can help reduce emissions during the use phase. With precision air conditioning units, the most important levers for optimum energy consumption are: ▪ maximized heat exchanger surface areas ▪ filter surface areas ▪ optimized air conduction ▪ carefully coordinated components While the levers above focus on individual components, our S-Klima line combines energy-efficient units, heat pumps and monitoring systems. Selected units are equipped with our Hyperinverter, the efficiency of which is confirmed through SCoP performance data and Eurovent certification. Recent examples illustrate efficiency across our range. Our UltraSonic humidifier uses around 93% less energy than conventional steam humidifiers. In 2024, STULZ launched the next generation of row-cooling units (CyberRack SideCooler) and active rear doors (CyberRack Active Rear Door). The main development targets – increased unit energy efficiency ratio in combination with higher operating conditions – were reached. STULZ Modular (UK) builds on this same technology, deploying the CyberRow and CyberRack SideCooler for micro data center cooling. High-quality components and a holistic design concept deliver efficiency in a plug-and-play solution that scales with growing IT loads. STULZ Oceania made EC fans standard on air-cooled DX solutions, saving around 35% of energy compared to the previous AC fan standard. For applications with very high power densities, such as AI data centers, Liquid Cooling offers a further path to energy efficiency, described in more detail on pages 34–35. Our UltraSonic humidifier uses around 93% less energy than conventional steam humidifiers.
About STULZ The Partner You Can Count On Managing Sustainability Sustainable Products Resource-Efficient Production Responsible Supply Chain Good Employer Key Performance Indicators UPGRADING FOR ENERGY SAVINGS STULZ Singapore STULZ Malaysia In 2025, STULZ SINGAPORE and STULZ MALAYSIA supported multiple customers in upgrading their existing cooling systems through targeted retrofit solutions, thereby extending equipment lifespan rather than replacing it prematurely. Fan upgrades, control optimization, and system performance enhancements delivered energy savings of up to 50% depending on site conditions, reducing power consumption and operating costs while keeping existing infrastructure productive for longer. LOW-GWP AND NATURAL REFRIGERANTS Refrigerants are an essential element in almost all our products, since air conditioning units and cooling systems cannot run without them. STULZ takes direct responsibility in an important area we can directly influence: the tightness of our refrigeration circuits, to prevent leaks. As a manufacturer, we depend on what refrigerants and cooling components are available on the market and what our customers require. It is our responsibility to minimize the use of refrigerants with a negative climate impact, while gradually transitioning to alternatives with a lower greenhouse effect. In Europe, this shift is shaped by the F-gas Regula- tion. New restrictions for high-GWP refrigerants will apply from 2027, and the Regulation aims to achieve a full phase-out by 2050. Established chemical refrigerants, often with a defined Refrigerant Safety Classification, are highly efficient and well optimized for use across our product portfolio. However, they often carry a high Global Warming Potential (GWP) and can contribute significantly to climate change if released. Natural refrigerants remain the better choice for the environment, due to their lower greenhouse effect. In our S-Klima products, we utilize R744 (CO2) with a GWP of 1. Looking ahead, we plan to use R290 (propane), which has a GWP of just 3 as well as excellent thermodynamic properties that enable high efficiency. In addition, we already use the synthetic HFO R1234ze, a good alternative with a similarly low GWP of 1.37. Some low-GWP alternatives also perform effectively at higher ambient temperatures, adding an operational benefit alongside their environ- mental one. Alongside natural refrigerants, A2L alternatives offer a further pathway toward compliance with the F-gas Regulation. R454C is one example, with a GWP of 148, considerably lower than conventional refrigerants. It is only mildly flammable, unlike propane. STULZ air conditioning units using R454C, such as the CyberAir Mini DX and CyberAir 3PRO GE4/ GE4S series, are designed to be as safe as conventional units with non-flammable refrigerants. STULZ Sustainability Report 2025 31
2025 USED REFRIGERANTS, BY GLOBAL WARMING POTENTIAL (GWP) ≤ 150 GWP 151 – 1,000 GWP 4.9% 8.9% 1,001 – 1,500 GWP 12.0% > 1,500 GWP 74.2% Many customers, however, still prefer conventional, high-GWP refriger- ants over natural alternatives, largely for two reasons. Conventional refrigerants are considerably more efficient in refrigerant circuits. Natural refrigerants, meanwhile, often have adverse characteristics, such as the high flammability of propane or the toxicity of ammonia, which require complex safety measures in customers’ systems. Flamma- bility is a particular concern in confined technical environments, such as 4G/5G shelters or point-of-presence (PoP) stations, where a fire could damage critical infrastructure and cause widespread service disruption. Despite these challenges, we expect the market to transition further toward natural and other low-GWP refrigerants over time. Regulation is accelerating this shift, and it is also making low-GWP refrigerants increasingly cost-competitive compared with conventional alternatives. For STULZ, this transition is not a matter of a single product change. It began with CyberCool Indoor in 2023 and has since extended across our portfolio, including CyberAir Mini, chillers, CyberAir 3PRO DX and our Shelter Cooling line. It is a broader engineering effort: adapting product design for new refrigerants, working with component suppliers to make this possible, and advising customers on what these changes mean for their specific installations. Ultimately, the mix of refrigerants we use depends on what our custom- ers choose, balancing component availability with the right level of safe- ty and efficiency for their application. The illustration shows the share of refrigerants, by GWP, that STULZ purchased for product manufacturing in 2025. We have observed several developments in refrigerants in the reporting year: ▪ Our refrigerant use has increased in 2025 compared to 2024. This is mainly due to an expansion of production capacities and a shift in our product mix toward more refrigerant-based products. ▪ Refrigerants with a high GWP remain the most requested in our products, partly because customers increasingly need larger units that require them. We also see rising demand for units using higher-GWP refrigerants as the phase-out date approaches. ▪ The demand for low-GWP refrigerants has accelerated: refrigerants in both the ≤ 150 GWP and 151–1,000 GWP ranges doubled in 2025. At the same time, we saw a drop in refrigerant use in the 1,001–1,500 GWP range. STULZ Germany STULZ Italy ROLLING OUT LOWER-GWP REFRIGERANTS Since 2023, our CyberCool Indoor units in Germany have used the A2L refrigerant R454C, which has a GWP of 148, compared to 2,088 for the conventional refrigerant R410A. Our CyberAir Mini is now also available with R454C. In Italy, STULZ S.p.A. began developing chillers based on R32 in 2025, which carries a GWP of 675, about a third of R410A's GWP. We also use R513A, with a GWP of 631, in CyberAir 3PRO and in our Shelter Cooling Line, and are already developing the next generation of shelter units with R454C. R513A is non-flammable and non-toxic, a safe alternative during the transition toward refrigerants with a GWP below 150. Together, these steps show how we are extending lower-GWP refrigerants across product groups, from room cooling to chillers and shelter cooling. 32
About STULZ The Partner You Can Count On Managing Sustainability Sustainable Products Resource-Efficient Production Responsible Supply Chain Good Employer Key Performance Indicators AHEAD OF REGULATION STULZ Australia STULZ New Zealand In much of the world, the shift to low-GWP refrigerants is driven by regulations limiting the use of hydrofluorocarbons (HFCs). In Australia and New Zealand, where these restrictions remain less stringent than in Europe, it is still largely a matter of choice. STULZ AUSTRALIA and STULZ NEW ZEALAND, themselves sales and service outlets, actively made that choice in 2025, promoting CyberAir and CyberAir Mini units with R513A and R454C. Both refrigerants have a significantly lower global warming potential than conventional alternatives, and this resulted in sales in both markets by early 2026. The approach goes beyond refrigerant type. Where projects allow, both entities give preference to water-cooled systems with dry coolers over air-cooled alternatives, reducing the refrigerant charge and its associated emissions. A project in New Zealand also incorporated Dynamic Free Cooling, making use of the country’s cooler climate to deliver significant energy savings in operation. CIRCULAR ECONOMY STULZ meets the reporting obligations of the European Directive on Waste Electrical and Electronic Equipment (WEEE). STULZ GmbH in Germany is registered accordingly. The circular economy is set to become a major focus for our industry over the next few decades, in line with EU efforts to close material loops by 2050. Circularity plays an increasing role in how we design and build our products. Most of our products are screw-fastened constructions, which can be easily disassembled. Given their value, we expect most materials in our products, such as metal components, copper or aluminum, to be disassembled and reused or recycled. Our example from Spain shows how switching a single material can improve specific environmental aspects. In France, sustainable design, extended warranties and upgrade programs support circularity during use. End-of-life handling is a further important aspect of circularity for us. To get a clearer picture, we surveyed all production as well as sales and service entities worldwide on this topic. The picture varies significantly by region and approach. STULZ France, in addition to the use-phase measures mentioned earlier, operates an ecotax-funded system that collects, recycles and certifies the destruction of replaced units. In Germany, we are in the planning stages of a recovery scheme with a partner from the electronics sector, aiming to refurbish fans and recycle refrigerant, steel and copper. In Malaysia and Indonesia, entities support customers through structured end-of-life documentation and rec- ommendations, without an actual take-back scheme. In South Africa, disposal is accompanied by recycling and scrapping certificates, while entities in China base their approach on national standards and guid- ance. At many other entities, a formal take-back scheme is not yet in place. End-of-life handling today is the responsibility of the customer operating the equipment. What is actually possible, however, depends on the recycling infrastructure, regulation and practice available in the country in question. We remain engaged with the topic and will continue to evaluate where STULZ could take on further responsibility. Recyclability also matters for our packaging. In Germany, the plastic films and wooden pallets we use are fully recyclable, and we have estab- lished recycling and reuse loops for various materials in our production. Our Environmental Product Declaration project confirmed this focus on the product side too, showing a high proportion of recyclable materials in the CyberAir line. STULZ Spain FROM POLYURETHANE TO ROCKWOOL In 2025, STULZ SPAIN switched the insu- lation material in its Fan Wall panels from polyurethane to rockwool. Rockwool is derived from basalt. It is naturally abundant, recyclable and does not release toxic gases. Polyurethane, by contrast, is a petroleum derivative that emits volatile organic compounds. Both materials require energy-intensive production, though, so the switch is not automatically an advantage for the overall carbon foot- print. Still, it is a good example of a focused material change with a clear environmental rationale. STULZ Sustainability Report 2025 33
WHERE LIQUID COOLING IS HEADING As data centers scale to meet AI-driven demand, Liquid Cooling is moving from an emerging technology to a standard expectation. Con- ventional air cooling typically supports around 50 kW per rack, enough for many applications, but not for high-performance AI systems. Liquids conduct heat far more effectively than air, so Liquid Cooling raises that ceiling substantially. Planned installations should be designed for cur- rent capacities of 125–140 kW per rack in the near future, with modu- larity to allow scaling of up to 600 kW per rack. Current technology can be engineered toward maximum performance or maximum efficiency, but not fully both at once, so operators choose their configuration based on what matters most for their site. We at STULZ have examples that show how this plays out in practice, drawing on product development that largely stems from Germany. MORE POWER, LESS SPACE FOR NEW DATA CENTERS More data centers are being built every year to meet rising digital and AI demand. This raises two concerns at once: how to keep energy use in check, and how to make efficient use of limited space. New data centers face this choice from the design stage. A conventional setup relies on large chillers, sized for the full cooling load. A facility water system (FWS) and technology cooling system (TCS) demon- strate what difference it makes when Liquid Cooling is part of the design from day one. By replacing the chillers with smaller models and dry coolers, most of the cooling load shifts onto the more efficient dry coolers. In this single example, the footprint shrinks by around 33%, while power density increases by around 58%. MAKING LIQUID COOLING POSSIBLE Every Liquid Cooling system depends on one thing: getting cooling to the servers without putting them at risk. Without a dedicated component, the sensitive server-side circuit would be exposed to the building’s general water supply. STULZ addresses this with the Coolant Distribution Unit (CDU), which separates the two circuits: the building’s water circuit and the technical cooling circuit used by the servers. It works for both direct-to-chip and immersion cooling. Our CDU portfolio supports a rated heat exchange capacity of over 1 MW. PUE, a measure of a data center’s energy efficiency, can be as low as < 1.1. Energy consumption drops by up to 45% com- pared to air cooling. Heat can be reused at temperatures up to 65°C. 34
About STULZ The Partner You Can Count On Managing Sustainability Sustainable Products Resource-Efficient Production Responsible Supply Chain Good Employer Key Performance Indicators UPGRADING EXISTING DATA CENTERS Data centers are designed to evolve, but rising rack densities and growing compute demand are pushing many facilities toward their physical, electrical, and thermal limits. Expanding capacity therefore requires more than adding equipment: it also means improving cooling efficiency and preparing infra- structure for future density increases. A key trend is combining lower approach temperatures with higher liquid- cooling operating temperatures. Reducing the temperature difference between the facility water system and the technology cooling system improves heat-transfer efficiency. At the same time, the industry is adopting higher-temperature liquid-cooling envelopes, such as ASHRAE’s S45 class, which allows supply temperatures of up to 45°C. Depending on IT equipment and climate, this can increase Free Cooling, reduce reliance on mechanical refrigeration, and improve heat-recovery opportunities. Coolant Distribution Units (CDUs) offer a practical entry point for Liquid Cooling in existing facilities. By separating the facility water system from the server-side cooling loop, CDUs can be integrated without replacing the entire cooling infrastructure. Removing heat directly from high- density components can cut cooling energy consumption by up to 45%. Future-proofing goes beyond an immediate retrofit: piping, pumps, headers, and connection points should be sized for future increases in liquid flow and cooling capacity. Separating liquid-cooling and conventional air-cooling systems can unlock further efficiency gains, letting each operate at its optimal temperature range. Because every facility differs, retrofits must account for IT equipment, climate, available space, and heat-reuse opportunities. This integrated approach lets operators expand capacity, improve efficiency, and prepare existing data centers for future demands, without a complete rebuild. »Customer requirements are defining the next generation of data center cooling. Drawing on our team’s experience from more than 250 Liquid Cooling projects worldwide and our close collab- oration across the data center ecosystem, we know that customers need solutions that deliver outstanding technical performance while driving measurable sustainability progress. At STULZ, we turn these requirements into innovative, energy-efficient Liquid Cooling technologies.« Jonathan Juergens, Team Lead Liquid Cooling, STULZ Germany, HQ STULZ Sustainability Report 2025 35
RESOURCE- EFFICIENT PRODUCTION ▪ Diligent energy consumption and energy saving ▪ Reduction of greenhouse gases ▪ Efficient water use ▪ Waste prevention, reduction, and reuse ▪ Careful handling of hazardous materials ▪ Resource-efficient logistics 36
About STULZ The Partner You Can Count On Managing Sustainability Sustainable Products Resource-Efficient Production Responsible Supply Chain Good Employer Key Performance Indicators MANAGING ENVIRONMENTAL PROTECTION IN A DECENTRALIZED STRUCTURE Resource-efficient production is, first and foremost, a key focus at our production entities. These are located in eight countries (Germany, Spain, Italy, United Kingdom, China, India, Brazil, United States), where STULZ equipment is developed and manufactured for regional and in- ternational markets. Our sales and service entities also track and report on their environmental data, but its scale is considerably smaller than at the production entities, where the manufacturing itself takes place. Consequently, they also report considerably less data than our produc- tion entities. Environmental management at our entities reaches into daily operations at almost every level: energy and water use, emissions, the handling of waste and hazardous materials, and the logistics that connect our facili- ties. To manage this range of topics consistently, our production entities work with a shared set of instruments. Management systems form the operational backbone. All production entities have management systems certified to the ISO 9001 (quality) standard. The European and Asia Pacific sites are also certified to ISO 14001 (environment), operating according to the highest standards in environmental management. Here, plant management sets annual targets, assigns measures and responsibilities, and reviews progress the following year, drawing on internal audits and, where relevant, corrective actions to close any gaps, or to introduce improvements. Alongside certified management systems and policies, we are taking a further step: bringing our production entities into closer collaboration. In doing so, we compare how similar issues are measured and managed in our decentralized structure. We additionally work together across our network on strategic topics, such as carbon footprint reduction. Policies as baseline »The next step in our sustain- ability journey is turning local strengths into global best prac- tices. By connecting expertise across our production sites, harmonizing processes and KPIs, and fostering closer collab- oration, we are building a more transparent, comparable, and resource-efficient manufactur- ing network. This report demon- strates the progress we have achieved together.« Silvia Casanova, Quality Director, STULZ Tecnivel (Spain) Javier Aramburu, Business Unit Director, STULZ Tecnivel (Spain) In a STULZ Quality and Environmental Policy, we empha- size the significance of ecological conservation for our business activities. This key issue is set out in the STULZ GmbH policy statement on safety, health, environmental protection and data protection, and it is further embedded in our Codes of Conduct. STULZ Sustainability Report 2025 37
DILIGENT ENERGY CONSUMPTION AND ENERGY SAVING Energy management is a shared responsibility across both our produc- tion and sales and service entities management teams. Where sites hold ISO 14001 certification, energy consumption is already part of that cer- tified environmental management system. Our site in Italy goes a step further, operating a dedicated energy management system certified to ISO 50001. In the reporting year, total global energy consumption at STULZ was 19.9 GWh, 9.4% more than in 2024, mainly due to increased production capacities at one of our production entities. Overall, the production entities account for over 96% of our global energy con- sumption. STULZ strives to increase the use of renewable energy. We use solar panels, are realigning our entire heating strategy toward new technolo- gies, and are gradually replacing existing systems. In the long term, we aim to minimize the use of fossil fuels, such as oil and gas. In Germany, we are working towards fossil-free heating, building renovation and solar installation. To save energy, we have put a range of measures into practice in production and management: ▪ Digitalized energy monitoring across our production entities ▪ Ongoing change of lighting to LEDs throughout the company ▪ Switching to modern heating systems ▪ Use of non-residential thermostats in stairwells and washrooms ▪ Use of heat recovery systems to reuse waste heat for our own test benches ▪ Installing micro switches in vacuum systems, so that they only run when needed ▪ Spatial adjustments and optimizing production spaces to reduce heating needs in production, thus countering energy losses ▪ Training and awareness-raising among workers regarding office heating At sales and service entities, digitalized service processes include soft- ware-aided central planning for vehicle deployment to reduce distances and therefore save fuel, as well as an app-based portal with real-time installation data for efficient service order processing. 2025 GLOBAL ENERGY CONSUMPTION, BY TYPE Total: 19,930,337 kWh Electricity 10,964,900 55.0% Gas 8,284,224 41.6% Heating oil 557,527 Other 123,686 2.8% 0.6% Other including district heating. Not including France. Energy management at sales entities Our sales and service entities are, for the most part, office premises, so their environ- mental impact is comparatively small. Since we rent most of these properties, our influence over their energy infrastruc- ture is limited. Looking ahead, we see it as our responsibility to bring sustainability more explicitly into how we select rental properties, from modern heating systems and renewable energy to waste concepts and building management. Our Benelux headquarters, for example, show what this can look like in practice, with a highly ener- gy-efficient building and solar collectors. 38
About STULZ The Partner You Can Count On Managing Sustainability Sustainable Products Resource-Efficient Production Responsible Supply Chain Good Employer Key Performance Indicators STULZ Germany PHASING OUT FOSSIL FUELS, STEP BY STEP At STULZ’s Hamburg production site, 2025 marked a significant milestone in the transition away from fossil fuels. Across multiple buildings – production halls, a large office building – existing gas and oil heating systems were replaced with energy-efficient heat pump solutions from STULZ’s own prod- uct portfolio. The office building’s oil heating system was the last one still in use on the entire site. It has now been replaced with a propane heat pump cascade, completing the elimination of oil-based heating at the Hamburg site. In the production areas, the replacements were accompanied by thermal load cal- culations, zoning of halls into separate control areas, and the introduction of intelligent control systems with night operation and remote management. The strategy is consistent: a systematic, building-by-building reduction of fossil energy across the site. Two further building conversions are already underway in 2026. Additionally, the number of electric vehicle charging points on site has been expanded to over 35, equipping an entire parking lot to meet growing demand. Employees can therefore charge their vehicles during working hours. REDUCTION OF GREENHOUSE GASES Climate protection is a responsibility we take very seriously, not least because of the impact our products have once they reach our customers. Air conditioning and cooling equipment consumes significant amounts of energy over its lifetime. The efficiency of our units and the refrigerants they use are key drivers of the climate impact associated with STULZ technology. To understand exactly where this impact lies, we measure our Corporate Carbon Footprint for the global STULZ organization. It includes all relevant Scope 1, 2 and 3 emissions in accordance with the Greenhouse Gas Protocol (GHG Protocol), covering our eight production entities as well as our sales and service entities. Our measurements show that, in 2025, global emissions for STULZ Air Technology amounted to 7.3 million metric tons of CO2e (Scopes 1–3). The vast majority of this, 96.6%, is related to the use phase of our products at customer sites (Scope 3.11: Use of Sold Products, measured for units sold in 2025). Only 3.4%, equivalent to 247,021 metric tons of CO2e, is related to our own operations and value chain. Out of this direct footprint, 3.5% accounts for Scopes 1 and 2, which is covered by our climate strategy. STULZ Sustainability Report 2025 39
2025 CORPORATE CARBON FOOTPRINT Total: 7.3 million metric tons of CO2e Use phase 7,071,553 t 96.6% Direct footprint 247,021 t 3.4% 2025 DIRECT FOOTPRINT Total: 247,021 metric tons of CO2e The large difference between use phase emissions and our direct footprint is primarily driven by the GHG Protocol’s accounting rules. Emissions from own operations and the value chain (direct footprint) include only emissions that occur in the reporting year. In contrast, use phase emissions must reflect emissions caused over the full expected lifetime of all units sold in the reporting year. For our air conditioning units, we apply a conservative lifetime assumption of 10.6 years, which results in substantially higher use phase emissions compared to our direct footprint. As the use phase makes up the largest share of our footprint, we focus on the major levers for reduction that we can influence. A major lever is the energy efficiency of our AC units, which unfolds over the long lifespan of the products. Yet the energy mix our units run on has an even greater impact: a unit powered by renewable electricity can approach near-zero use phase emissions, regardless of how efficient it is. We therefore place particular emphasis on incorporating our customers’ electricity mix into footprint calculations. Refrigerant leakage is another critical lever in the use phase. In our high-quality products, preventing leakage is a top priority for STULZ. Yet, transitioning toward units that run on low-GWP refrigerants to limit emissions in the event of a leak exerts an even greater influence. The choice of refrigerant itself, however, is ultimately made by our customers, based on their own requirements and order specifications. We therefore work on several levers to reduce Scope 3 emissions. Scope 1 4,971 2.0% Scope 2 3,623 1.5% Scope 3 238,427 96.5% 40 Methodological improvements matter Due to the high numbers involved, even small methodological shifts have huge effects. An example demonstrates this: Our 2024 use-phase emissions (Scope 3.11) of 8.4 million metric tons of CO2e were calculated using location-based emission factors. In 2025, we refined this for three of our production entities: we used publicly available data on major clients’ actual energy mix for units sold by these entities, instead of generic factors. Although this covered only a subset of entities and units sold, it brought our total footprint down to 7.3 million metric tons of CO2e. This does not reflect an actual reduction, but shows how much methodology matters in measuring Scope 3 emissions for STULZ.
About STULZ The Partner You Can Count On Managing Sustainability Sustainable Products Resource-Efficient Production Responsible Supply Chain Good Employer Key Performance Indicators 2025 DIRECT FOOTPRINT: OWN OPERATIONS AND VALUE CHAIN SCOPES Scope 1 Mobile Combustion Stationary Combustion Fugitive Emissions Scope 2 (market-based) Purchased Electricity (stationary) Purchased Electricity (mobile) Purchased Heat Scope 3 3.1 Purchased Goods and Services 3.2 Capital Goods 3.3 Fuel- and Energy-Related Activities 3.4 Upstream Transportation and Distribution 3.5 Waste Generated in Operations 3.6 Business Travel 3.7 Employee Commuting Total Scope 1–3 Biogenic emissions EMISSIONS (t CO2e) SHARE 4,971 2,946 1,882 2.0% 1.2% 0.8% 143 <0.1% 3,623 3,580 24 19 238,427 212,737 7,473 1.5% 1.4% <0.1% <0.1% 96.5% 86.1% 3.0% 1,957 0.8% 11,060 4.5% 15 <0.1% 1,423 3,762 0.6% 1.5% 247,021 100% 168 In 2025, 247,021 metric tons of CO2e are from our own operations and value chain. 92% of these emissions stem from our eight production entities, while 8% are related to our over 20 sales and service entities. Scopes 1 and 2 emissions account for 3.5% of our direct footprint. Since we have direct influence on them, they play a decisive role in our climate strategy. Our climate strategy We are committed to reaching net zero by 2040. We have set clear targets for our Scope 1–2 emissions: a 24.5% reduction by 2030 and a 90% reduction by 2040, both measured against our 2025 baseline. Preventing leakage To ensure that refrigerants and fluids do not leak, we carry out a computer-assisted leak test on every refrigeration circuit at all our production entities. At our customers’ installation sites, service engineers carry out leak tests in accordance with the appli- cable legal requirements. STULZ Sustainability Report 2025 41
Scope 3 has the highest impact within our own operations and value chain, with 96.5%. Within this, purchased goods and services is the most relevant category, at 86.1%. For this important category, we achieved a significant methodological leap during the reporting year: For the purchased raw materials and components to build our AC units, we were able to switch from a spend-based to a weight-based calcu- lation for four major production entities. This change in methodology provides more reliable emission data and will build a foundation for further progress toward a future Scope 3 reduction target. Yet, this revised calculation also implies much higher emissions for Scope 3.1 compared to 2024. Important: This is not an increase in emissions, but reflects a more precise data foundation. We strive to continuously improve data quality for our carbon footprint measurement. Several adjustments were made in the reporting year, which are documented in “About the Report”. Transitioning to low-GWP refrigerants The global warming potential (GWP) of refrigerants plays an important role in our Carbon Footprint. STULZ is committed to actively contributing to the sustainable development of data centers, though much of this depends on our customers’ require- ments and order specifications. We active- ly promote more environmentally friendly refrigerants and advise our customers on low-GWP options. At the same time, we equip our production facilities with the resources needed for the transition to low-GWP refrigerants: updated safety standards for flammability and toxicity, and intensive staff training so our colleagues can safely handle these requirements from initial consultation through to service in the data center. STULZ Italy INVESTING IN THE FACTORY Two infrastructure investments at STULZ S.p.A. in 2025 reflect a consis- tent approach: reducing the environmental footprint of production while improving performance. A photovoltaic system on the roof of the chiller production building is sized to cover its entire electricity requirement. With a nominal power of 450 kW and two battery storage systems of 215 kWh each, it began generating power in January 2026. The second investment is a new climate chamber in which flammable refrigerants with a low GWP – and, in future, natural refrigerants too – can be tested safely. The results are measurable: energy consumption in testing decreased by more than 25%, and testing times were cut by 50 to 70%. A system for recovering thermal energy ensures reduced energy consumption and therefore greater energy efficiency. 42
About STULZ The Partner You Can Count On Managing Sustainability Sustainable Products Resource-Efficient Production Responsible Supply Chain Good Employer Key Performance Indicators EFFICIENT WATER USE Although we are a manufacturing company, water is not a material resource for our business. We use only a small proportion of our water in our production processes; water is mainly used for human consumption or personal hygiene. Cooling and heating circuits are closed systems and therefore have no consumption. We do not use any ground or sur- face water for any purpose whatsoever. Apart from Brazil and the UK, where no water is used in performance testing, all our production sites have performance test benches. They reuse water multiple times, thereby minimizing water consumption. Our production entity in Italy has its own water treatment plant. To minimize our water consumption, we have introduced the following measures: ▪ In production, extensive heat recovery systems allow cooling water in our closed-loop test bench technology to be reused several times. ▪ We monitor our own water consumption through regular analysis of our water bills. As we rent the buildings of our branches, we have no direct influence on the water supply and infrastructure at these locations. ▪ Every employee is encouraged to save water wherever possible. This includes, for example, reporting leaks in washrooms. ▪ Our service organization advises customers on ways to reduce their water consumption. This can be achieved, for example, by replacing individual components or entire systems, or simply by optimizing the settings of control parameters. 2025 WATER WITHDRAWAL Total: 36,950 m3 Production entities 34,955 m3 94.6% Sales and service entities 1,995 m3 5.4% Not including Austria, France, Indonesia, Nordics, New Zealand, Singapore. STULZ Sustainability Report 2025 43
WASTE PREVENTION, REDUCTION AND REUSE Waste management itself is the responsibility of our Waste Management Officers, who are appointed at all production sites certified to ISO 14001. Our aim is to continually reduce the amount of waste we produce. Compared to the previous year, our waste volume at production entities decreased by over 10%. At a global level, our production entities, not including STULZ Modular (UK), generated a total of 2,925,950 kg of waste; 97.2% of this was non-hazardous. 32% of global waste was redirected for recycling, in Germany the ratio is 95%, and in Spain 93%. Waste at our sales and service entities is based on assumptions from available data and equates to around 4% of our total waste volume; due to the uncertainty of this data and its low relevance, these figures are not included in our calculations. For waste prevention, separation, treatment and recycling or reuse, we have implemented measures including: ▪ At our production entities, we separate waste such as paper, wood, recyclables (e.g., scrap metal) and residual waste, and recycle materials to the greatest possible extent. ▪ With our chipper, we shred discarded wood so that it is compressed in the transport container, reducing the number of journeys to and from the site. ▪ Wherever possible, we use reusable pallets, transport containers and packaging materials along with individual metal or wooden pallets and cardboard boxes for transport between suppliers and production entities. ▪ When we take an air conditioning unit out of service, we always extract the refrigerant and send it for recycling. ▪ For hazardous waste, we rely on a specialist disposal service that follows the applicable waste code and legal provisions. ▪ Through digital workplace practices, we avoid waste and have reduced our paper consumption. ▪ We have registered all relevant brands sold by STULZ GmbH in accordance with the German Packaging Act. ▪ We comply with the WEEE (Waste Electrical and Electronic Equip- ment) requirements of Directive 2012/19/EU, which aims to reduce electric and electronic waste through reuse, recycling and other forms of waste recovery. 32% of global waste at production entities is redirected for recycling. 2025 WASTE GENERATED AT PRODUCTION ENTITIES, BY ORIGIN Total: 2,925,950 kg Metal waste 846,455 kg 28.9% Residual waste 759,041 kg 26.0% Packaging wood 739,713 kg 25.3% Paper and cardboard 424,235 kg 14.5% Refrigerants 2,918 kg 0.1% Other 153,588 kg 5.2% Other includes waste not clearly attributable to a waste code/classification. Not including Modular (UK). 44
About STULZ The Partner You Can Count On Managing Sustainability Sustainable Products Resource-Efficient Production Responsible Supply Chain Good Employer Key Performance Indicators STULZ India TURNING GARDEN WASTE INTO GREEN GOLD At STULZ INDIA’s production facility, dry leaves, grass clippings, and plant cuttings accumulate regularly. Instead of disposing of this garden waste off-site, the team asked a simple question: could it become something useful? The answer was vermicomposting – a natural process that converts organic waste into nutrient-rich fertilizer, using existing on-site resources. Waste volumes leaving the facility dropped, and soil and plant health across the premises improved. Employees, too, gained a tangible sense of what small, concrete actions can achieve. What started as a disposal problem has become a closed loop. It is a good reminder that resource efficiency and circularity don’t always require large- scale programs – sometimes the opportunity is simply right in front of you, and acting on it is enough. Improve packaging Our packaging guidelines for different product groups comprehensively regulate transport packaging, filling and handling across Germany. This ensures optimal re- source use and efficient quality assurance for deliveries. Reusable and returnable packaging, including return cycles, are part of our supplier contracts. Non-reusable cardboard packaging is shredded to create filling material for shipping boxes. We have also prepared for the EU Pack- aging and Packaging Waste Regulation (PPWR), effective as of August 2026. It restricts hazardous substances and requires packaging to be recyclable and reusable. In this context, our production entities in the EU can confirm their compli- ance with the PPWR. STULZ Sustainability Report 2025 45
CAREFUL HANDLING OF HAZARDOUS MATERIALS Where applicable, hazardous materials used in production are subject to the provisions of the EU’s RoHS Directive and/or REACH Regulation. We keep the use of hazardous materials to a minimum and already consider this aspect, as far as possible, in our purchasing decisions. Hazardous materials include, for example, oils, refrigerants, lubricants, nitrogen, oxygen, acetylene and greenhouse gases. At our German site, this is supported by a dedicated hazardous materials management system, headed by our Hazardous Materials Officers. Currently, 85 different hazardous materials are in use there, with adhe- sives, cleaners and gases accounting for the largest share; actual use varies with the units produced in a given year. A hazardous materials register offers a detailed overview, categorized by division to clarify responsibilities, with in-depth information on classification and hazard category that allows risks to be identified quickly and safety measures taken. The register is continually updated in line with new requirements and product modifications. We illustrate the environmental impacts of these hazardous materials in the document “Assessments and impacts on the environment”, evaluating environmental relevance in both standard and emergency operations on a defined scale. In Germany, our Hazardous Materials Officers compile risk assessments and work instructions in line with the German Hazardous Materials Ordinance, which is available centrally via the intranet, checked at fixed intervals and adapted when necessary. Risk management also includes regular training for users and officers, along with regular substitution assessments on hazardous materials in our production lines to reduce potential hazards. For the transport of hazardous materials, our German site is supported by external hazardous goods officers. Transport vehicles are marked in accordance with regulations and are subject to special procedures. 100% of the refrigerants to be disposed of at STULZ entities are recycled. 46
About STULZ The Partner You Can Count On Managing Sustainability Sustainable Products Resource-Efficient Production Responsible Supply Chain Good Employer Key Performance Indicators RESOURCE-EFFICIENT LOGISTICS We have specifications to control our inbound logistics, which are implemented by our suppliers. Comprehensive, coordinated packaging guidelines enable us to make optimum use of transport capacity, mini- mize packaging and, in some cases, use reusable transport containers. Some entities also work on efficiency within their own facilities. Our site in Italy, for example, had already redesigned internal logistics flows between two factory floors in 2024 as part of its lean manufacturing transformation, cutting forklift traffic by 90%. We deliver ex works. Our production entities liaise closely with our sales companies and our customers when dispatching deliveries. At our customers’ request, goods are delivered to the specified address. We also aim to organize consolidated shipments to make transport as resource-efficient as possible. In Germany, our outbound transportation is handled by long-term logistics partners that focus on more resource-efficient logistics, among them DHL, GLS and FedEx/TNT. Examples are joint sustain- ability initiatives with GLS (KlimaProtect scheme) and FedEx/TNT. The transportation companies regularly report on their CO2 emissions, for exam- ple through DHL’s GoGreen Plus certificate. An external hazardous goods safety adviser sup- ports us with our dangerous goods transport, and an internally appointed Air Freight Safety Officer supervises compliance with the provisions of the German Federal Aviation Office (LBA) for goods transported by airplane. Transition in fleet management We are gradually converting our fleet to vehicles with lower fuel consumption and vehicles powered by alternative engines, and expanding our electric vehicle infra- structure accordingly. Some examples: ▪ STULZ Benelux has an electric fleet in its lease cars and introduced another electric service vehicle. ▪ Outside Benelux, the service fleet is currently made up of diesel vehicles, as we don’t have any alternative that covers the necessary range. ▪ At STULZ Nordics, 50% of company cars are electric. ▪ At our headquarters in Germany, we have equipped an entire parking lot with charging facilities for elec- tric vehicles. Over 35 vehicles can be charged at the same time. The charging points are also available for our staff’s vehicles. STULZ China SMALL CHANGES, REAL IMPACT At STULZ CHINA’s Hangzhou production site, the approach to operational improvement is straightforward: where one change can deliver across safety, efficiency, and environment at the same time, it is worth making. A dust removal device added to the aluminum alloy gas cutting machine reduced airborne particles, improved the working environment, and increased solid waste recycling efficiency in a single step. A new centralized charging area for forklifts — physically separated from the main production floor — improved safety, enabled faster simultaneous charging, and simplified maintenance. STULZ Sustainability Report 2025 47
RESPONSIBLE SUPPLY CHAIN ▪ Ethics and compliance ▪ Responsible purchasing ▪ Managing our supply chain 48
About STULZ The Partner You Can Count On Managing Sustainability Sustainable Products Resource-Efficient Production Responsible Supply Chain Good Employer Key Performance Indicators OUR SUPPLY CHAIN Our in-house STULZ branded products are manufactured locally for their respective regional markets at our eight global production entities. We primarily purchase components, assemblies and pre-manufactured materials. Our production also requires pre-processed base materials such as copper. All products use high-quality components. Robust design ensures high reliability, low demand for spare parts, a long service life and optimal performance under varying conditions. Long-term supplier relationships and early supplier involvement help us ensure product quality, supply reliability and continuous improvement through- out the product life cycle. While supplier diversification remains an important element of our sourcing strategy, some material groups involve strategic single-source relationships due to technological requirements, product performance or qualification considerations. In these cases, we focus on building close partnerships with our suppliers. Across all supplier relationships, we continuously optimize component usage with regard to performance, resource efficiency, sustainability and total cost of ownership. When sourcing materials, we prioritize reliability while ensuring compli- ance, supply security and product performance. Part of this is efficiency: we expect materials and components to be produced in an energy- and resource-efficient manner. Together with our suppliers, we pursue solu- tions that are both profitable and more sustainable, increasingly guided by circular economy principles. One example is the testing of recycled plastic covers for heat exchangers. We have also implemented packag- ing improvements with several suppliers. These include switching from single to multi-packaging for controllers and humidifiers, and eliminating plastic bags previously used for circuit boards. 2025 PURCHASED MATERIALS, BY TYPE Total purchase volume: 50,484 t Mechanical components 52.5% Trade goods Raw materials Electrical components Maintenance, repair and operations (MRO) 18.0% 15.4% 12.4% 1.7% Production entities only, not including Brazil. 2025 SUPPLIERS, BY ORIGIN Total: 4,435 91.8% of our suppliers are located in the same country as their respective production site. Europe Asia America 59.9% 21.9% 18.1% Production entities only, “other suppliers” below 1%. STULZ Sustainability Report 2025 49
ETHICS AND COMPLIANCE STULZ takes a decentralized approach to ethics and compliance, allow- ing us to respond to specific requirements in each country, as local mar- ket conditions often determine the exact scope of these requirements. At our German headquarters, we maintain a written corporate policy, the Code of Conduct, that defines our approach to labor standards, health and safety, and ethical conduct for all employees. Building on this Code of Conduct, we have established several processes to ensure business ethics in daily operations. Bribery and corruption are criminal offenses and are firmly rejected. Employees may only accept gifts, invitations and other benefits from third parties to a reasonable and proportionate extent, and this must not give rise to conflicts of interest. Compliance also extends to trade and export controls. In Germany, we have adopted a standard operating procedure (SOP) to examine busi- ness partners’ compliance with legally binding sanctions lists. An export inspection team is responsible for checking our business partners in this connection. To ensure ethical business practices throughout our supply chain, STULZ has established defined procurement and supplier management processes. Our contract awarding process is subject to approval procedures and, above defined thresholds, a dual-control principle to promote transparency, fair competition and compliance. We expect our suppliers to comply with applicable laws and regulations, reject corruption, and adhere to export and import restrictions, sanc- tions and embargoes. These expectations are embedded in our Code of Conduct for Suppliers, which requires suppliers to respect human rights, provide humane working conditions and prohibit forced and child labor. To further strengthen compliance within procurement, STULZ Germany appointed a dedicated Compliance Officer in 2025 and expanded train- ing for purchasing employees on customs, export controls, sanctions and related compliance requirements. STULZ also strives to comply with all applicable environmental laws and regulations across its global production entities. Compliance is anchored in dedicated local processes, regular internal reviews, and – where applicable – third-party certifications such as ISO 14001. Code of Conduct for Suppliers Since 2024, an updated version of our Code of Conduct for Suppliers has been in effect at the German headquarters. The rules apply to suppliers, business partners, and other third parties that act on our behalf. The Code defines our expectations regarding: ▪ Human rights ▪ Labor conditions ▪ Conflict minerals ▪ Environmental protection ▪ Conflicts of interest ▪ Materials ▪ Ban on bribery and corruption ▪ Fair competition and antitrust legislation ▪ Financial responsibility ▪ Export controls and economic sanctions The STULZ Code of Conduct for Suppliers is based on the United Nations Universal Declaration of Human Rights and the Convention Against Corruption, the OECD Guidelines for Multinational Enterprises on Responsible Business Conduct, the Conventions of the International Labour Organization (ILO), the principles of the UN Rio Declaration, and the Ten Principles of the UN Global Compact. The Code is communicated to suppliers during the onboarding process and is publicly available via our supplier portal. Strategic suppliers are required to confirm compliance on a regular basis. Adherence to these principles is considered within supplier qualification, risk assessment, supplier development and audit activities. -> CODE OF CONDUCT FOR SUPPLIERS IN GERMANY 50
About STULZ The Partner You Can Count On Managing Sustainability Sustainable Products Resource-Efficient Production Responsible Supply Chain Good Employer Key Performance Indicators STULZ Modular (UK) SUPPLIERS HELD TO STANDARD For a lean organization, supply chain responsibility requires deliberate effort. STULZ MODULAR (UK) collects and maintains documentation from its sup- pliers and subcontractors – covering not just quality standards, but also health and safety practices and environmental commitments. Certificates back this up with verified, auditable proof. On-site visits add a fur- ther layer: a firsthand view of working conditions and a check that what is documented reflects what actually happens on the ground. This decentralized approach can be seen, for example, in the UK, where companies operating there are expected to comply with a range of ethical and human rights standards. STULZ UK has established a corre- sponding anti-bribery policy and procedure to meet these requirements. Data security is another aspect of ethics and compliance. In Germany, we collect, process, and retain personal data in accordance with strict German data protection legislation and have appointed a Data Protection Officer. At the German headquarters, there were no complaints relating to privacy violations or the loss of customer data during the report- ing year. In order to further improve data and information security, we successfully obtained ISO/IEC 27001 certification for our German head office during the year under review. External verification through customer audits Our customers are increasingly carrying out customer audits at our production sites or commissioning third parties to do so. This is primarily done to monitor their supply chains. Many of our customers, particularly large, global companies, are increasingly requiring evidence of our social, environmental and sustainability practices as part of their own due diligence obligations. This also includes issues relating to respect for human rights. Such audits are currently taking place at all our production sites, for example through supply chain management audits by major customers in Spain, Germany and Brazil. Our site in the USA also participates in customers’ ESG compliance programs. These audits are usually carried out at the customer’s request, based on individual audit plans. STULZ is open to this practice and proactively offers it in certain cases. The audit process is then organized and supervised by our global quality man- agement department in accordance with clearly defined procedures. STULZ Sustainability Report 2025 51
Product compliance: the PFAS example RESPONSIBLE PURCHASING STULZ works closely with suppliers to ensure that materials and components comply with applicable regulatory requirements, including those related to material content, environmental protec- tion, product safety and international trade. This helps ensure that STULZ products can be legally placed on the market in the regions they serve. One relevant example is PFAS (per- and polyfluoroalkyl substances), about which our customers increasingly request in- formation. We actively monitor regulatory developments on restricted substances, including recent additions to the EU POP Regulation (Regulation (EU) 2019/1021), and support our customers with the infor- mation currently available on PFAS and POPs restrictions. Based on our current information, we cannot yet fully confirm whether our products are free of PFAS, as it may be present in components such as seals, insulation materials or coatings. We are working to gain a clearer overview across our supply chain. Under current definitions, the refriger- ants we use are not classified as PFAS substances. However, HFO refrigerants can react with oxygen, for example in the event of leakage or improper maintenance, forming substances such as trifluoroace- tic acid (TFA), which has recently been classified as a hazardous PFAS substance. Since the refrigerant for each application is selected by the customer, compliance with PFAS and POPs restrictions depends on that choice; we therefore provide the necessary information and guidance to support compliant selection. As part of our transition to alternative refrigerants such as CO2 (R744) and propane (R290), we are continuously increasing the share of PFAS- free solutions in our portfolio. 52 Responsible purchasing is a key element of STULZ’s sustainability management. Across the Group, purchasing organizations are struc- tured around standardized material categories, enabling close supplier collaboration and effective management of sustainability, quality and supply chain risks. Regional sourcing is an important aspect of our procurement approach. Out of more than 4,400 suppliers worldwide, 91.8% are located in the same country as the production facilities they supply. This supports supply chain resilience and strengthens local economic value creation. Throughout the Group, regional sourcing initiatives help reduce lead times, improve delivery performance and lower transport-related emis- sions while supporting strong, long-term supplier relationships. STULZ Germany STRENGTHENING RESPONSIBLE PROCUREMENT In 2025, STULZ GERMANY took further steps to make responsible procurement more transparent and consistent. A new supplier portal now bundles our key requirements, including our Code of Conduct for Suppliers, obligations under the German Supply Chain Act, REACH/ RoHS compliance, and packaging guidelines, into a single, accessible reference point for suppliers. We also introduced a digital tool for more systematic supplier risk management, including ESG aspects beyond Tier 1, while continuing to improve the quality of underlying supplier and material data. Together, these steps mark a shift toward more structured and transparent responsible procurement practices. -> SUPPLIERS HUB
About STULZ The Partner You Can Count On Managing Sustainability Sustainable Products Resource-Efficient Production Responsible Supply Chain Good Employer Key Performance Indicators MANAGING OUR SUPPLY CHAIN While most Tier 1 suppliers operate in regions that are generally con- sidered lower risk, certain material groups and upstream supply chain tiers may still pose social, environmental and human rights risks that require ongoing assessment and monitoring. First, for individual material groups, such as electronic parts, it is currently not possible to entirely rule out issues relating to working conditions, human rights and the environment in the upstream stages of our supply chain. Second, our production entities in China and India have a distinct risk profile com- pared to most of our other entities. We intend to further improve our risk assessments and verification measures going forward. As part of our efforts to maintain reliable and resilient supply chains, supplier audits are conducted across our production entities based on defined criteria and business needs. Audits are performed both on a regular basis and in response to specific events or identified risks. Depending on the scope, they may cover quality management, environ- mental performance, occupational health and safety, as well as process and manufacturing capabilities, often with reference to recognized standards such as ISO certifications. Supplier selection for audits is guided by factors such as business relevance, risk profile, performance history and material group. In Germany alone, close to 20 supplier audits were carried out over the past three years. We continue to strengthen our audit capabilities and further develop our supplier assessment pro- cesses to enhance transparency and support continuous improvement throughout the supply chain. In China, STULZ’s supplier management process covers around 100 suppliers at our production site in Hangzhou, most of them local. Many act primarily as traders and are therefore not explicitly audited for human rights and environmental risks. Instead, given the market’s distinct risk profile, suppliers undergo an annual appraisal based on multiple criteria, including environmental and occupational safety performance, which also feeds into supplier selection. There is a clear scheme of targeted supplier audits, which is updated yearly. SUPPLIER AUDITS AT OUR CHINESE PRODUCTION SITE New supplier audits Annual audits Process audits 2023 2024 2025 10 12 5 4 7 4 1 8 5 Handling conflict minerals STULZ is committed to increasing trans- parency regarding the sourcing of tin, tantalum, tungsten and gold within its supply chain. These raw materials are commonly used in electronic components and may be associated with human rights, social and environmental risks in certain regions. Our Code of Conduct for Suppliers requires suppliers to implement responsi- ble sourcing practices and to identify and address risks related to conflict minerals. Since 2025, conflict mineral screening has been integrated into our supplier qualifi- cation process. Where potential risks are identified, STULZ works with suppliers to improve transparency, assess mitigation measures and evaluate appropriate corrective actions. We continuously seek to strengthen our due diligence processes and improve traceability within the supply chain through engagement with suppliers and industry initiatives. »Growing expectations for transparency are reshaping global supply chains. Beyond quality, flexibility, and reliability, human rights and material compliance are becoming essential requirements. Through an expanding supplier audit program, STULZ is strengthening trans- parency and helping ensure that these evolving standards are met across our supply chain.« Helen Fu, Director TQM, STULZ China STULZ Sustainability Report 2025 53
10 subsidiaries with a whistleblower system and no incidents reported in 2025. At STULZ Germany, we analyze and assess supplier-specific and supply chain risks and instigate corrective action when necessary, clustering suppliers by country and risk category and reviewing product and mate- rial groups for potential risks relating to human rights and environmental protection. Sustainability issues are increasingly factored into these assessments. As of 2025, our revised supplier qualification process, envisioned as a global standard, requires all new suppliers to confirm STULZ ESG standards by accepting our Code of Conduct for Suppliers and includes a preliminary ESG risk assessment as a mandatory step. A risk assessment conducted in 2024 for compliance with the German Supply Chain Act further helped us establish solid supply chain manage- ment, including structures such as a whistleblower system, preventive measures and reporting lines. STULZ Italy SYSTEMATIC SUPPLIER AUDITING At our Italian site, STULZ S.p.A., supplier audits follow a risk- and perfor- mance-based approach, taking into account criteria such as vendor rating, internal non-conformities, customer claims, and quality approval compliance. The audit plan is reviewed annually and remains flexible throughout the year, allowing for additional or earlier audits in response to quality issues or other critical events. The process includes a preliminary documentary self-assess- ment by the supplier, a review of supplier performance data ahead of the on-site visit, and a structured on-site audit covering areas such as quality controls, traceability, and environmental and energy aspects. Each step is documented in detail for the individual supplier, and findings are classified and tracked through a formal follow-up plan, assigning a responsible person and target date for each corrective action through to closure. BUILDING SUPPLY CHAIN RESILIENCE STULZ China Global supply chains for complex technical products face a common set of pressures: constrained raw materials, varying lead times, and market conditions that rarely stand still. Navigating that well is what keeps products reaching customers reliably – and it requires continuous work, not a one-time fix. At STULZ CHINA, 2025 brought a systematic effort to strengthen that capability. Safety stock levels were refined and adjusted more frequently, resulting in a significant reduction in tied-up capital. Material lead times improved through localization, supplier development, and closer monitoring of delivery performance. The supply chain became leaner without becoming more fragile – a balance that matters as much globally as it does locally. 54
About STULZ The Partner You Can Count On Managing Sustainability Sustainable Products Resource-Efficient Production Responsible Supply Chain Good Employer Key Performance Indicators ESG IMPACTS IN OUR SUPPLY CHAIN For the CyberAir 3PRO DX, we draw on the Environmental Product Declaration described in our Sustainable Products chapter to better understand where environmental impacts in our supply chain actually occur. Embodied carbon calculations across our product line follow the CIBSE TM65 methodology. The analysis shows that social and environmental risks in our Tier 1 supply chain are low. The relevant impacts lie further upstream, across raw material extraction, manufacturing and transport. For the CyberAir 3PRO DX, this means the key levers for reducing environmental impact lie less in Tier 1 supplier relationships and more in material choice, coating processes and energy sources used further upstream. ▪ Raw material extraction accounts for 84 to almost 100% of the total value across environmental indicators. ▪ Within raw material extraction, external sheet metals account for 25% of the GWP value, largely due to the natural gas required for powder coating. ▪ Within manufacturing, 59% of the related GWP value stems from electricity consumption, driven mainly by upstream natural gas combustion. ▪ Key components such as the evaporator, compressor and EC fan are predominantly made of copper, steel, aluminum and com- posite materials, and are sourced from suppliers between 100 and 1,300 kilometers away, depending on the component. These findings confirm that supply chain impacts need to be assessed precisely, component by component and stage by stage, to identify where a product’s carbon footprint truly originates. Balancing this need for granular data with limited resources will remain an ongoing challenge. Highest, 84–100% Next-highest stage Lowest impact stage Raw Materials Manufacturing Transport Sheet metal Electricity Supplier network 25% of GWP value 59% of manufacturing GWP 100–1,300 km distance STULZ Sustainability Report 2025 55
GOOD EMPLOYER ▪ Occupational health and safety ▪ Training and career management ▪ Diversity, equality, and inclusion ▪ Modern work environment 56
About STULZ The Partner You Can Count On Managing Sustainability Sustainable Products Resource-Efficient Production Responsible Supply Chain Good Employer Key Performance Indicators COMMITTED TO OUR PEOPLE, WORLDWIDE Being a good employer is a commitment that unites STULZ across the whole organization. With 4,019 employees across all continents, among them 725 women, we share a common understanding of responsible people management. This shared commitment centers on four areas: occupational health and safety, training and career management, diversity, equality and inclusion, and a modern work environment. At the same time, the manner in which these are put into practice differs from site to site, shaped by local conditions, labor market regulations, and cultural context. Beyond the workplace itself, many of our subsidiaries are also active in their local communities: through social engagement and support for education, particularly initiatives connected to our industry. Because these local approaches are so varied, this chapter draws on a wide range of concrete examples from our subsidiaries, to show how this commitment looks in practice around the world. 4,019 employees worldwide 2025 AGE STRUCTURE OF THE WORKFORCE Total: 4,019 employees 2025 WORLDWIDE DISTRIBUTION OF EMPLOYEES Total: 4,019 employees 96.8% Full-time employees 140 nationalities working at STULZ < 30 979 24.4% 30–50 2,123 52.8% > 50 917 22.8% Europe 1,721 42.8% Asia Pacific 1,443 35.9% America 849 21.1% Africa 6 0.1% Note: 255 additional people worked for STULZ in 2025 as non-employees (e.g., temporary agency staff) – they are not included in the 4,019 employees total. STULZ Sustainability Report 2025 57
OCCUPATIONAL HEALTH AND SAFETY The health and safety of our employees is our top priority. We under- stand that we are responsible for ensuring that our employees are protected against accidents and other potential risks while they are at work. Approaches and measures vary. At our sites around the world, we conduct local risk assessments as well as training and education programs on occupational health and safety. Whilst we do not operate a uniform global health and safety manage- ment system, our production entities operate under local guidelines or management systems for health and safety. ▪ Our production entities in China, India, and Modular (UK) operate an ISO 45001-certified occupational health and safety management system. STULZ Tecnivel (Spain) and the US sites are working toward ISO 45001 certification for their existing health and safety manage- ment systems. ▪ Germany and Italy have established their own health and safety management approaches. In Germany, this includes an occupational safety committee, a company physician, safety officers, and first aid responders. Supervisors regularly conduct risk assessments and implement accident prevention measures. In Italy, a certified health and safety management system is in place. ▪ Brazil does not hold specific health and safety certifications but complies fully with all applicable national regulations. At our production entities, in particular, we monitor accidents and injuries closely. The higher numbers in the reporting period primarily result from of a better process of monitoring and data collection across our entities. A low number of accidents across the global STULZ organization is a goal we continuously strive to achieve. ACCIDENTS AND INJURIES 2023 2024 2025 Reportable accidents at work Injuries 69 5 38 62 79 178 Production entities only, injuries 2023 not including USA. Our sales and service entities also put their commitment to health and safety into practice. Through structures and processes designed to meet international and local requirements. For example, STULZ Singa- pore operates an ISO 45001-certified occupational health and safety management system. This ensures compliance with both an inter- nationally recognized standard and local labor laws and regulations, safeguarding the safety and well-being of its workforce. In Thailand and South Africa, our sales and service entities have defined and implemented their own health and safety practices to ensure a safe working environment, in accordance with local regulations. PEOPLE WITHIN, COMMUNITY BEYOND As a sales and service organization, STULZ SOUTH AFRICA’s focus is on its people and the communities around them. Throughout 2024 and 2025, the company recorded zero work-related incidents, a result that reflects strong safety practices and a genuine commitment to employee well-being. Beyond the workplace, the team also engaged with the wider community: at the end of the year, employees took part in the “Santa Shoebox” campaign, collecting and donating gifts for children in need. STULZ South Africa 58
About STULZ The Partner You Can Count On Managing Sustainability Sustainable Products Resource-Efficient Production Responsible Supply Chain Good Employer Key Performance Indicators STULZ China SPORTS ACROSS THE COMPANY At STULZ CHINA, a company-wide sports initiative in 2025 connected employees across sites under the motto “Strive · Share · Shine.” In Shanghai, yoga and badminton sessions combined stress relief with teamwork. In Hangzhou, a playful sports day with specially designed team activities brought people together through laughter as much as competition. An online check-in format – covering walking, running, swimming, and cycling – kept the momentum going throughout the year. STULZ USA A STRUCTURED APPROACH TO HEALTH AND SAFETY In the United States, our three production sites operate a health and safety management system according to ISO 45001. Certification is planned to be completed in 2026. The system reflects U.S. OSHA requirements (29 CFR 1910) as well as industry standards for electrical safety (NFPA 70E) and working at height (ANSI Z359). It includes safety committees, Stop Work Authority for every employee, and structured risk assessments combined with role-based training. When incidents occur, corrective actions focus on identifying underlying causes rather than assigning individual blame. Alongside this, we are also working toward ISO 14001 certification for environmental management, re- flecting our broader commitment to structured management systems. STULZ Sustainability Report 2025 59
TRAINING AND CAREER MANAGEMENT To ensure our long-term success, we aim to attract and develop out- standing employees worldwide. Training and career management are or- ganized on a decentralized basis, enabling all subsidiaries to tailor these initiatives to local needs and opportunities. Here are a few examples: ▪ In Germany, we offer over 180 training and further education pro- grams covering a wide range of topics, some of which are delivered via our eLearning platform. Training hours have increased by almost a third compared to the previous year. The “STULZ Talent Develop- ment” program prepares promising young talent for future leadership roles. ▪ An in-house online learning platform gives STULZ China’s employees access to a wide range of training courses on general, specialist and technical topics. Trainee and induction programs support interns and new employees. ▪ STULZ S.p.A. in Italy has redesigned induction and career paths in production, supported by mentors and training on Lean Manufac- turing. Partnerships with schools offer work placements and help promote STULZ as an attractive employer. ▪ Since candidates with specific skill sets are hard to find near the plant, STULZ Tecnivel in Spain offers work placements in collabo- ration with training organizations. Trainees gain practical experience and are offered a potential entry point into the company. ▪ All of our sales and service entities invest in training programs tailored to local conditions. For example, technicians in Austria are trained either in-house or through courses offered by suppliers. Employees in Indonesia benefit from various in-house training op- portunities. Singapore promotes professional development through ongoing training and career advancement. As in Indonesia, this has driven forward skill development within the respective industry. 2025 STULZ TRAINING, BY HOURS Total: 26,984 h Production entities 15,914 h 59.0% Sales and service entities 11,070 h 41.0% STULZ Academy Hamburg: expanding global training We are expanding the STULZ Academy and Test Center in Hamburg to make product training available worldwide and strength- en knowledge transfer across the orga- nization. New controller training courses deepen technical expertise and support consistent quality standards, while soft skills programs, soon to be offered interna- tionally, build non-technical capabilities alongside technical ones. From 2026, an additional test center and training room will further expand our capacity. 60
About STULZ The Partner You Can Count On Managing Sustainability Sustainable Products Resource-Efficient Production Responsible Supply Chain Good Employer Key Performance Indicators INVESTING IN WHAT COMES NEXT STULZ Singapore At STULZ SINGAPORE, employee development is approached with a forward-looking mindset. In 2025, the team built technical and professional skills through structured training programs – drawing on Singapore’s SkillsFuture framework, a national initiative that helps companies invest in workforce capabilities. Alongside formal training, employees gained hands-on experience with AI-enabled tools such as Microsoft Copilot, preparing for more efficient and digitally integrated ways of working. Beyond the company’s own team, STULZ SINGAPORE launched a collaboration with local institutes of higher learning to bring young talent into the data center industry. Through internships and employ- ment pathways, students gain practical exposure and a real foot- hold in the sector after graduation. In its first year, the initiative drew positive feedback from the institutions involved – a strong start for a program designed to grow over time. STULZ Indonesia SHARING WHAT WE KNOW The Nusantara Data Center Academy unites industry players, schools, and polytechnics to prepare the next generation of data center professionals in Indonesia. In 2025, STULZ INDONESIA took on the role of facilitator for the Cooling Module – putting its technical expertise to work beyond its own operations and contributing directly to building the skilled workforce the sector needs. It is the kind of engagement that helps shape an emerging sector – and the careers of the people who will drive it forward. STULZ Sustainability Report 2025 61
Apprenticeships and vocational training in Germany Reaching young talent increasingly means being present on social media. Our apprentices and dual-track students independently manage STULZ’s own career channels across various social media platforms. In doing so, they take on responsibility early and gain hands-on experience alongside their training. In 2025, we employed 29 apprentices and 18 students in Germany, with average retention rates of 80–95%. After passing their final exams, all apprentices accepted an offer of continued employment at STULZ in 2025. We engage young talent early, offering, for example ▪ Apprenticeships as: Industrial Electrician, Cooling Technology Mechatronics Engineer, Warehouse Logistics Specialist, Industrial Management Assistant ▪ Vocational degree programs in: Industrial Engineering, IT Specialist, Business Informatics, Business Administration, International Management, Mechatronics STULZ Career: -> INSTAGRAM -> TIKTOK STULZ Modular (UK) GROWING TOGETHER At STULZ MODULAR (UK), investment in people is tangible. In 2025, every member of staff completed training, drawing on both in-house programs and external courses tailored to individual roles and ambitions, with regular exposure to senior leadership and collaboration across STULZ subsidiaries and the wider industry. This investment goes hand in hand with how the team works day to day. Flexible working practices enable people to work where they are most effective. A deliberately diverse team, bringing different backgrounds, experiences, and perspectives, is seen as a direct contributor to better customer outcomes. Regular collaboration, team lunches, and shared milestones keep the culture grounded and human. 62
About STULZ The Partner You Can Count On Managing Sustainability Sustainable Products Resource-Efficient Production Responsible Supply Chain Good Employer Key Performance Indicators 54 women in managerial positions 0 reports on discrimination DIVERSITY, EQUALITY AND INCLUSION For us, the diversity of our workforce and the creation of an inclusive working environment is not just ethically correct, but also indispensable for our innovative spirit and competitiveness. Our team is made up of 725 women and 3,294 men, all contributing to STULZ’s success. We welcome employees of all genders. At present, none of our employees openly identify as non-binary. People from 140 different nations work across all global subsidiaries, sharing a common passion and drive to shape STULZ’s future with commitment and ambition. Further diver- sity-related metrics are tracked and reported in our Key Performance Indicator overview. Treating all employees fairly, regardless of gender, origin, religion, or any other characteristic, is a core obligation for us. This way, we create a work environment free from discrimination and actively strive for an inclusive culture. Every employee should feel respected, valued, and an integral part of our team. Discrimination of any kind is not tolerated and will be punished accordingly; we also strictly reject sexual harass- ment and bullying. To ensure this, we have created positions specifically dedicated to these issues. For example, we have whistleblowing officers at ten different sites who also handle anti-bullying matters. In 2025, we received no reports regarding these issues. Three examples of how STULZ organizations handle the topic: ▪ In Germany, we handle equal rights and non-discrimination as part of a dedicated works agreement. Our Works Council and Executive Management work closely together to prevent employees from feeling disadvantaged in any way. In line with legal requirements, the whistleblower system is publicly accessible to everyone. In addition, a disability representative on the Works Council ensures that the interests of people with disabilities are represented in the company, and employees receive training on topics such as diversity, dis- crimination and harassment. In 2025, we employed 38 people with disabilities in Germany. ▪ In addition to complying with all applicable labor and employment laws, STULZ China is committed to providing equal employment opportunities to all qualified personnel, regardless of ethnic origin, color, religion, nationality of origin, disability, gender, age, or mari- tal status. Complaint and grievance channels help ensure fairness and equality, supporting a work environment where employees are incentivized based on actual performance. ▪ STULZ UK is committed to encouraging equality and diversity among its workforce, going beyond the legal requirement to elimi- nate unlawful discrimination. The aim is a workforce that truly rep- resents all parts of society and its customers, where each employee feels respected and able to give their best. Several policy measures support this goal, including an equality policy and a bullying and harassment policy. STULZ Sustainability Report 2025 63
»We are proud to be recognized as Manufacturer of the Year in Frederick County, Maryland, home to our U.S. headquarters. This recognition reflects our ongoing commitment to our employees and the local community.« Graeson Garrett, EH&S Manager, STULZ USA MODERN WORK ENVIRONMENT Shaping a modern workplace is a shared priority across STULZ. This includes innovative workplace design, adaptable work schedules and modern communication methods, all grounded in a common under- standing of our values. Across our sites, this also means making strong use of online meetings and flexible working arrangements to support employees’ work-life balance. Several entities have been recognized for their efforts, including “Great Place to Work” awards for STULZ Mexico and STULZ Oceania. STULZ USA has received multiple regional recog- nitions as an employer. The work environments at our global sites are maintained individually by local management, so the focus varies according to local demands. The following examples illustrate this range, showing just some of the different approaches and areas of focus across our locations. ▪ Team-building activities, celebrations, and festival events strengthen teamwork and support employee well-being at our production site in China. ▪ Safe and healthy working conditions that minimize risks and hazards form the basis of STULZ Indonesia’s approach. This is complement- ed by fair compensation and a culture of respect, inclusiveness, and teamwork. We also offer opportunities for training, career advance- ment, and flexible arrangements such as remote work. ▪ At STULZ Tecnivel in Spain, a customized in-house platform for handling and lifting batteries addresses a specific ergonomic challenge in manufacturing. STULZ Spain TAKING CARE OF PEOPLE STULZ SPAIN’s approach to its people is broad, covering safety, inclusion, devel- opment, and flexibility. For example, a group health insurance plan has been negotiated for all employees, and remote work is available to both office-based and production-based roles. An International Women’s Day campaign and broader equality initiatives aim to increase the share of women in the workforce. Attracting the next generation is part of the picture, too: factory visits and training sessions bring students from universities and engineering departments to the Esquivias facility, sup- ported by student branches of associations such as ASHRAE. STULZ SPAIN’s commitment also extends beyond the company itself. Since 2024, staff visits to Fundación Down Zaragoza’s facilities and occupational centers have focused on social inclusion and equal opportunity in practice. Building on this relationship, “Today I was part of STULZ” brought that commitment to life in 2025, giving participants a hands-on experience of working life at the company. 64
About STULZ The Partner You Can Count On Managing Sustainability Sustainable Products Resource-Efficient Production Responsible Supply Chain Good Employer Key Performance Indicators STULZ Italy MANY WAYS TO SHINE AS A GOOD EMPLOYER At STULZ ITALY, personnel development takes many different forms. Lean training involves teams directly in redefining processes, making continuous improvement a shared practice rather than a directive from above. The company Academy supports structured career paths, cross-functional mobil- ity, and job changes for those looking to grow within the company. A solidarity time account, allowing employees to share holiday and leave hours with col- leagues in special need, has become part of everyday working life. The company’s engagement extends beyond its own workforce. Partnerships with local schools offer training programs open to unemployed individuals. Recruiting Days at universities and international internship programs also bring new talent into the company. STULZ S.p.A. also sponsors “La Corsa Rosa,” a long-standing charity run supporting prevention and early diagnosis of female cancer. STULZ Germany ROOTED IN HAMBURG, GIVING BACK TO THE CITY Hamburger SV is one of Germany’s most storied football clubs – and home to “Der Hamburger Weg,” a foundation supporting education, sport, and social welfare for children and young people in Hamburg since 2006. STULZ has been a supporter for a number of years, joining a network of Hamburg-based compa- nies that fund projects strengthening opportunities for those who need them most. The connection is tangible. Every Christmas, employ- ees and entire teams come together to donate gifts for children supported by the foundation – a tradition that turns a shared initiative into something personal. STULZ Sustainability Report 2025 65
KEY PERFORMANCE INDICATORS The new entities EMEA and STULZ Aragón are not included in the Key Performance Indicators. The operations of STULZ Digital Solutions GmbH, our software development site in Germany, are covered by the data for STULZ GmbH, Germany. For technical reasons, the data for Belgium is consolidated in STULZ Groep (Netherlands). 66 COMPANYUNIT202320242025Sales (approx.)€ million800850 958.9 Production entitiestotal888Sales and service entitiestotal192122Software development sitestotal111ENVIRONMENTUNIT202320242025GHG emissions excluding use phase (Scope 3.11)Excluding:Excluding:GHG Emissions (Scope 1–3), totalt CO2en.a.Thailand156,277Thailand247,021Scope 1t CO2en.a.4,4724,971Scope 2 (market-based)t CO2en.a.3,7543,623Scope 2 (location-based)t CO2en.a.4,5964,474Scope 1–2 (market-based)t CO2en.a.8,2268,593Scope 3t CO2en.a.148,051238,428GHG emissions (Scope 1–3) per 10,000 € salest CO2en.a.1.82.6Energy Excluding:Excluding:Excluding:Energy consumption, total kWh France, Nordics, Thailand16,648,087France18,212,461France19,930,337Production entitieskWh 16,021,97017,137,15319,215,248Sales and service entitieskWh France, Nordics, Thailand626,117France1,075,309France715,089ElectricitykWh France, Nordics, Thailand11,161,360France10,774,129France10,964,900Electricity from conventional tariffskWh 8,384,8689,360,444France9,366,023Electricity from 100% renewable energy tariffskWh 2,776,4921,413,6851,039,898Self-generated electricity by PV and consumed by the owner kWh00558,979Gas kWh France, Nordics, Thailand4,662,928France5,879,795France8,284,224Heating oil kWh France, Nordics, Thailand780,955France639,632France557,527OtherkWh France, Nordics, Thailand42,843France918,926France123,686Energy intensity per employeekWh France, Nordics, Thailand5,085France5,199France4,959WaterExcluding:Excluding:Excluding:Water withdrawal, totalm3 France, Indonesia, Nordics, Thailand31,240France, Indonesia, Nordics, New Zealand, Thailand37,215Austria, France, Indonesia, Nordics, New Zealand, Singapore36,950Production entitiesm3 30,11334,89234,955Sales and service entitiesm3 France, Indonesia, Nordics, Thailand1,127France, Indonesia, Nordics, New Zealand, Thailand2,323Austria, France, Indonesia, Nordics, New Zealand, Singapore1,995Water discharge, totalm3 Brazil, Spain, USA, Asia Hub, Benelux, France, Indonesia, Nordics, Singapore, Thailand22,461Brazil, Austria, France, Indonesia, Nordics, New Zealand, Thailand33,301Austria, France, Indonesia, Nordics, New Zealand, Singapore36,643Production entitiesm3 Brazil, Spain, USA21,657Brazil32,10534,955Sales and service entitiesm3 Asia Hub, Benelux, France, Indonesia, Nordics, Singapore, Thailand804Austria, France, Indonesia, Nordics, New Zealand, Thailand1,196Austria, France, Indonesia, Nordics, New Zealand, Singapore1,687Production entities with wastewater treatment in placetotal111Waste (production entities only)Excluding:Excluding:Excluding:Waste generated at production entitieskgModular (UK) 3,083,096 China, Modular (UK) 3,369,007 Modular (UK)2,925,950Hazardous waste kg 34,736 55,488 Modular (UK)83,100Non-hazardous waste kg 3,048,361 3,313,519 Modular (UK)2,842,850Recycled waste kg 2,645,023 2,698,943 Modular (UK)937,094Disposed wastekg 438,074 670,064 Modular (UK)1,988,856
About STULZ The Partner You Can Count On Managing Sustainability Sustainable Products Resource-Efficient Production Responsible Supply Chain Good Employer Key Performance Indicators STULZ Sustainability Report 2025 67 ENVIRONMENTUNIT202320242025Waste generated at production entities, by originkgModular (UK), USA1,715,381China, Modular (UK) 3,369,007 Modular (UK)2,925,950Metal wastekg 574,487 437,278 Modular (UK)846,455Packaging wood kg 462,349 591,965 Modular (UK)739,713Paper and cardboardkg 361,091 1,690,729 Modular (UK)424,235Refrigerants kg 5,372 3,722 Modular (UK)2,918Residual wastekg 115,985 500,951 Modular (UK)759,041Otherkg 196,097 144,363 Modular (UK)153,588RefrigerantsRefrigerants used, totalkg99,650116,770121,110Share of refrigerants with global warming potential (GWP) of≤ 150 (R1234ze, R454C)%8.52.24.9151–1,000 (R513A, R32)%7.14.18.91,001–1,500 (R449A, R134a)%14.914.812.0>1,500 (R22, R438A, R407A, R407C, R404A, R422D, R410A)%69.578.974.2Company fleetCompany vehicles, totaltotal688706732With combustion enginetotal610637620With alternative enginetotal7869112SOCIALUNIT202320242025Employees Employeestotal 3,3033,5034,019Female total 643703725Male total 2,6602,8003,294Employees by age< 30 total 66469797930–50 total 1,8291,9042,123> 50 total 810902917Employees by contract Permanenttotal 2,6222,8443,341Femaletotal 502557611Maletotal 2,1202,2872,730Temporarytotal 681659678Female total 141146114Male total 540513564Full-timetotal 3,1993,3993,891Female total 578644647Male total 2,6212,7553,244Part-timetotal 104104128Female total 657478Male total 393050Workers who are not employeestotal 140105255Female employees in managerial positionstotal 374854Nationalities of employeestotal 89135140
* 2025 data covering subsidiaries in Brazil, Germany, Italy, Spain, Austria, France, Netherlands, South Africa only (representing a total of 1,686 employees). 2024 data covering subsidiaries in Brazil, Germany, Italy, Spain, Austria, France, Netherlands, South Africa only (representing a total of 1,587 employees). 2023 data covering subsidiaries in Brazil, Germany, Italy, Spain, Benelux and South Africa only (representing a total of 1,479 employees). 68 SOCIALUNIT202320242025Employee turnover total 531341418Female total 704578Male total 461296340Employees on parental leavetotal8710798Female total 263833Maletotal 616965Share of employees covered by collective bargaining agreements*%55.173.530.0Training and educationExcluding:Excluding:Employees attending in training coursestotal Brazil, Benelux, Indonesia, Nordics, UK3,1732,589Nordics3,079Training hoursh Brazil, Benelux, Indonesia, Nordics, UK17,95445,623Nordics26,984Training hours per participating employeesh Brazil, Benelux, Indonesia, Nordics, UK5.717.6Nordics8.8Health and Safety (production entities only)Excluding:Production entities with a certified H&S management system in placetotal 444Reportable accidents at worktotal 693879Injuriestotal USA562178GOVERNANCE AND SUPPLY CHAINUNIT202320242025GovernanceExcluding:Excluding: Excluding:Employees trained in business ethicstotal Asia Hub, Indonesia, Mexico, Nordics, South Africa, UK2,114Italy, Austria, Singapore1,175Nordics1,906Percentage of included employees trained in business ethics%Asia Hub, Indonesia, Mexico, Nordics, South Africa, UK66.8Italy, Austria, Singapore33.5Nordics47.4Sites with whistleblowing procedure in placetotal 81010Reports from whistleblower procedurestotal 000Violations of environmental protection laws and directivestotal Modular (UK), Asia Hub, Indonesia, Mexico, Nordics, UK0Italy, Austria, Singapore0Nordics0Confirmed cases of corruptiontotal Modular (UK), Asia Hub, Indonesia, Mexico, Nordics, UK0Italy, Austria, Singapore0Nordics0Materials (production entities only)Excluding:Excluding: Excluding: Total purchase volumetBrazil44,421Brazil43,963Brazil50,484Mechanical componentst18,43823,37726,484Raw materialst10,8045,3497,793Trade goodst9,4738,1219,110Electrical componentst4,8536,1516,270Maintenance, repair, and operations (MRO)t853965827Suppliers (production entities only) Suppliers, totaltotal 3,9844,1624,435Europetotal 2,5092,5852,657Asiatotal 725857971Americatotal 747714802Othertotal 365Share of suppliers in same country as sourcing site% 91.391.791.8
About STULZ The Partner You Can Count On Managing Sustainability Sustainable Products Resource-Efficient Production Responsible Supply Chain Good Employer Key Performance Indicators GRI CONTENT INDEX STULZ has reported the information cited in this GRI content index for the period January 1, 2025 to December 31, 2025 with reference to the GRI Standards, using GRI 1: Foundation 2021. GRI Sector Standards are not applicable. We apply the GRI Standards that are relevant for the 2025 reporting year. They can be viewed and downloaded at -> WWW.GLOBALREPORTING.ORG GRI 2: GENERAL DISCLOSURES GRI STANDARD DISCLOSURE 1. The organization and its reporting practices REFERENCE AND OMISSIONS Organizational details Entities included in the organization’s sustainability reporting Reporting period, frequency and contact point Restatements of information External assurance 3, 7, 66 66, 72 72 – 73 73 72 Activities, value chain and other business relationships Employees 7, 8 – 9, 48 – 49 57, 63, 67 Workers who are not employees 57, 67; total workers only Chair of the highest governance body Role of the highest governance body in overseeing the management of impacts Delegation of responsibility for managing impacts Role of the highest governance body in sustainability reporting Communication of critical concerns Collective knowledge of the highest governance body 4 – 5, 21 21 21 21 21 – 22 21 4 – 5 22, 50 – 51 22, 50 – 53 2-1 2-2 2-3 2-4 2-5 2. Activities and workers 2-6 2-7 2-8 3. Governance 2-11 2-12 2-13 2-14 2-16 2-17 2-22 2-23 2-24 2-25 2-26 2-27 2-28 4. Strategy, policies and practices Statement on sustainable development strategy Policy commitments Embedding policy commitments Processes to remediate negative impacts 22, 50 – 51, 54 – 55 Mechanisms for seeking advice and raising concerns 22, 63 Compliance with laws and regulations Membership associations 51, 68; no reported incidents 25; example selection 5. Stakeholder engagement 2-29 2-30 Approach to stakeholder engagement Collective bargaining agreement 24 21, 68; share of covered employees only STULZ Sustainability Report 2025 69
GRI 3: MATERIAL TOPICS 2021 GRI STANDARD DISCLOSURE REFERENCE AND OMISSIONS Material Topics 2021 3-1 3-2 Process to determine material topics 23; SR 2023 pages 18 –19 List of material topics 23 MATERIAL TOPIC: SUSTAINABLE PRODUCTS GRI STANDARD DISCLOSURE GRI 3-3: Management of material topics REFERENCE AND OMISSIONS 26 – 35 49, 68; total weight by type, production entities only 33, 44 – 45; exemplary, production entities only 30 – 31; approaches and example GRI 301: Materials 2016 GRI 302: Energy 2016 GRI 416: Customer Health and Safety 2016 301-1 Materials used by weight or volume 301-3 Reclaimed products and their packaging materials 302-5 Reductions in energy requirements of products and services 416-1 416-2 Assessment of the health and safety impacts of product and service categories 28 – 29 Incidents of non-compliance concerning the health and safety impacts of products and services No known incidents GRI 417: Marketing and Labeling 2016 417-1 Requirements for product and service information and labeling 28, 30, 40 GRI 418: Customer Privacy 2016 418-1 Substantiated complaints concerning breaches of customer privacy and losses of customer data 51; Germany only MATERIAL TOPIC: RESOURCE-EFFICIENT PRODUCTION GRI STANDARD DISCLOSURE REFERENCE AND OMISSIONS GRI 3-3: Management of material topics GRI 302: Energy 2016 302-1 Energy consumption within the organization 302-3 Energy intensity 36 – 47 38, 66 66; per employee 302-4 Reduction of energy consumption 38 – 39; examples and actions only 303-1 Interactions with water as a shared resource 43 GRI 303: Water and Effluents 2018 303-3 Water withdrawal 303-4 Water discharge 305-1 Direct (Scope 1) GHG emissions 305-2 Energy indirect (Scope 2) GHG emissions 305-3 Other indirect (Scope 3) GHG emissions 305-4 GHG emissions intensity 43, 66; total withdrawal only, no water-stress analysis 66; total discharge only 40 – 41, 66 41, 66 39, 41 – 42, 66 66; Scope 1 – 3 (excl. use phase) per 10,000 € sales 305-5 Reduction of GHG emissions 38 – 39, 41; exemplary 306-1 Waste generation and significant waste-related impacts 44 306-2 Management of significant waste-related impacts 44 – 45 306-3 Waste generated 44, 66; production entities only 306-4 Waste diverted from disposal 306-5 Waste directed to disposal 44, 66; total diverted waste, production entities only 66; total directed waste, production entities only GRI 305: Emissions 2016 GRI 306: Waste 2020 70
About STULZ The Partner You Can Count On Managing Sustainability Sustainable Products Resource-Efficient Production Responsible Supply Chain Good Employer Key Performance Indicators MATERIAL TOPIC: RESPONSIBLE SUPPLY CHAIN GRI STANDARD DISCLOSURE REFERENCE AND OMISSIONS 48 – 55 49, 52, 68; production entities only, local = same country as sourcing entity 204-1 Proportion of spending on local suppliers 205-2 Communication and training on anti-corruption policies and procedures 50 – 51, 68 205-3 Confirmed incidents of corruption and actions taken 68; no known incidents 308-1 414-1 New suppliers that were screened using environmental criteria New suppliers that were screened using social criteria 53; example from China, 54 – 55; overall approach 51, 53; example from China, 54 – 55; overall approach MATERIAL TOPIC: GOOD EMPLOYER GRI STANDARD DISCLOSURE GRI 3-3: Management of material topics GRI 204: Procurement Practices 2016 GRI 205: Anti-corruption 2016 GRI 308: Supplier Environmental Assessment 2016 GRI 414: Supplier Social Assessment 2016 GRI 3-3: Management of material topics GRI 401: Employment 2016 GRI 403: Occupational Health and Safety 2018 GRI 404: Training and Education 2016 GRI 405: Diversity and Equal Opportunity 2016 GRI 406: Non-discrimination 2016 REFERENCE AND OMISSIONS 56 – 65 68; total turnover by gender only. New hires can be derived from headcount numbers of the previous years. 68; total employees with parental leave by gender only 401-1 New employee hires and employee turnover 401-3 Parental leave 403-1 Occupational health and safety management system 21, 58 – 59 403-2 Hazard identification, risk assessment, and incident investigation 58 – 59 403-3 Occupational health services 58 – 59 403-4 Worker participation, consultation, and communication on occupational health and safety 21, 58 – 59; focus on production entities 403-5 Worker training on occupational health and safety 58 – 59; focus on production entities 403-6 Promotion of worker health 58 – 59; general approaches 403-8 Workers covered by an occupational health and safety management system 58 – 59, 68; coverage of management systems 403-9 Work-related injuries 58, 68; total injuries per local law, production entities only 404-1 Average hours of training per year per employee 60, 68; per participating employee 404-2 Programs for upgrading employee skills and transition assistance programs 60 – 61; example programs 405-1 Diversity of governance bodies and employees 57, 62 – 63, 67; total by gender, age and region only 406-1 Incidents of discrimination and corrective actions taken 63; no reported incidents STULZ Sustainability Report 2025 71
ABOUT THE REPORT This is the fourth Sustainability Report by STULZ, based in Hamburg, Germany. It covers the operations of STULZ Air Technology worldwide. The report applies to the 2025 fiscal year (January 1, 2025 to December 31, 2025) and was published on October 23, 2026. The editorial deadline was October 13, 2026. The previous Sustainability Report was published on October 23, 2025 for the 2024 fiscal year. Our reporting is voluntary; no external auditing was conduct- ed. Our aim is to transparently disclose to our stakeholders how STULZ manages sustainability in a comprehensive and future-oriented way. We present key areas and approaches, selected strategies, goals, actions, progress, and key perfor- mance indicators. We thereby demonstrate how STULZ deals with economic, environmental, social, and governance (ESG) concerns. SCOPE OF CONSOLIDATION This Sustainability Report covers 31 legal entities as subsid- iaries, eight production entities, one software development site1, and 22 sales and service entities. Out of the eight pro- duction entities, Germany, Italy, India and USA are covered with integrated sales and service entities, Brazil and Modular (UK) with integrated sales entities. PRODUCTION ENTITIES KPI COVERAGE STULZ Brasil Ar Condicionado Ltda., Brazil Brazil STULZ Air Technology and Services Hangzhou Co., Ltd. China STULZ GmbH, Germany (headquarters)1 Germany STULZ-CHSPL (India) Pvt. Ltd. STULZ S.p.A., Italy STULZ Tecnivel S.L.U., Spain STULZ Modular Ltd., UK India Italy Tecnivel (Spain) Modular (UK) STULZ Air Technology Systems Inc., USA USA The 31 subsidiaries come under the scope of the consolidat- ed financial statements of STULZ Verwaltungs GmbH & Co. KG. They represent our worldwide operating entities under one of the STULZ Group’s business units, STULZ Air Tech- nology. Thus, the scope of this Sustainability Report differs from the scope of the consolidated financial statements of STULZ Verwaltungs GmbH & Co. KG, for 2025 fiscal year, as the latter covers also other business segments. SALES AND SERVICE ENTITIES KPI COVERAGE STULZ Oceania Pty Ltd., Australia STULZ Oceania (Power) Pty Ltd, Australia STULZ Austria GmbH STULZ Belgium BVBA2 Dala Service Ar Condicionado Ltda., Brazil STULZ Air Technology and Services Shanghai Co., Ltd., China STULZ France S.a.r.l. PT STULZ Air Technology Indonesia, Indonesia STULZ Malaysia Sdn. Bhd. STULZ México S.A. de C.V. STULZ Groep B.V., Netherlands2 STULZ Oceania Ltd., New Zealand STULZ Polska Sp. z o.o., Poland STULZ ASIA HUB Pte. Ltd., Singapore STULZ Singapore Pte Ltd. STULZ South Africa Pty. Ltd. STULZ España S.A., Spain STULZ Aragón S.L.3 STULZ Nordics AB, Sweden STULZ Siam Co., Ltd., Thailand STULZ UK Ltd. STULZ Emea Center of Excellence – FZCO, United Arab Emirates3 Oceania Oceania Austria Benelux Brazil China France Indonesia Malaysia Mexico Benelux Oceania Poland Asia Hub Singapore South Africa Spain Spain Nordics Thailand UK EMEA 1 In this report, the operations of STULZ Digital Solutions GmbH, our software de- velopment site in Germany, are covered by the data for STULZ GmbH, Germany. 2 For technical reasons, the data for Belgium is consolidated in STULZ Groep (Netherlands). 3 The new entities EMEA and STULZ Aragón are not included in the Key Perfor- mance Indicators. DATA COLLECTION AND METHODOLOGY Data for this Sustainability Report was collected in collabora- tion with the relevant departments of STULZ and our inter- national site representatives. We have further improved data quality. Some data remains unavailable at our subsidiaries. We clearly indicate excluded subsidiaries in the Key Perfor- mance Indicator section, also in comparison with 2023 and 2024 reporting omissions. Contact For questions about sustainability at STULZ and our sustainability reporting, contact our team: Mr. Jan-Lucas Kinne and Mr. Ludger Ecke sustainability@stulz.de
About STULZ The Partner You Can Count On Managing Sustainability Sustainable Products Resource-Efficient Production Responsible Supply Chain Good Employer Key Performance Indicators No restatements of information (as per GRI 2 – 4) from previ- ous reporting periods were made in this reporting period. Regarding methodology, we wish to highlight the following aspects: ▪ Data collection is carried out at organizational level rather than country level. This may result in differences if we relate statements only to production entities or only to sales and service entities. ▪ Our newly included subsidiaries in EMEA and STULZ Aragón are not included in Key Performance Indicators in this report. ▪ We display health and safety data, as well as data on materials and suppliers for our production entities only because figures are the most significant for these entities. ▪ Regarding our health and safety data, we have gathered information on how many accidents had to be reported to authorities according to local laws and regulations as well as how many accidents resulted in a work absence of more than six weeks. ▪ Waste data is only collected in full for the production entities. ▪ We use metric tons (abbreviated t). ▪ Deviations due to rounding may occur in individual cases, including percentage shares and totals. CORPORATE CARBON FOOTPRINT METHODOLOGY STULZ follows the GHG Protocol Standard to calculate its global Corporate Carbon Footprint for 2025, with the goal of continuously improving data quality. This year, significant enhancements were achieved, for example closing data gaps regarding transportation, switching to a weight-based cal- culation for raw materials, and accounting for the use of re- newable energy during the use of sold products. As a result, Scope 3 figures are more reliable but not directly comparable to 2024. Within the Key Performance Indicators, we display emissions excluding use phase (3.11). Organizational and operational boundaries The system boundaries for the GHG inventory were estab- lished using the operational control approach for all entities within financial consolidation, excluding our newly included subsidiaries in EMEA and STULZ Aragón. The Corporate Carbon Footprint also excludes data for Thailand. We apply the three scopes of the GHG Protocol: Scope 1: Direct emissions from combustion processes in stationary and mobile applications and direct emissions of fugitive gases. Scope 2: Indirect emissions from purchased electricity and heating. Scope 3: Indirect emissions from Purchased Goods and Services (3.1), Capital Goods (3.2), Fuel- and Energy-Related Emissions (3.3), Upstream Transportation and Distribution (3.4), Waste Generated in Operations (3.5), Business Travel (3.6), Employee Commuting (3.7), Downstream Transportation and Distribution (3.9), Use of Sold Products (3.11). Scope 3.8 (Upstream Leased Assets) is included in Scope 1 and 2. In our analysis, the following Scope 3 categories were evaluated as not relevant or significant for the STULZ global Corporate Carbon Footprint: Processing of Sold Products (3.10), End-of-Life Treatment of Sold Products (3.12), Down- stream Leased Assets (3.13), Franchises (3.14) and Invest- ments (3.15). For 2025, we have added biogenic emissions, which stem from the combustion of wood pellets and the biogenic con- tent of fuels. Emission factors To calculate the greenhouse gas (GHG) inventory for 2025, we used various emission factors expressed in CO2 equiv- alents (CO2e), based on emission factors provided by the International Energy Agency (IEA), the UK Department for Energy Security and Net Zero (DESNZ) and the German Federal Environment Agency (UBA). In addition, for Germany, we have taken market-based emission factors into account for our electricity and district heating contracts. Data exclusions, methodology remarks and corrections ▪ Data from the following subsidiaries is not included in the Corporate Carbon Footprint calculation: Thailand, EMEA, STULZ Aragón. ▪ Electricity data for Belgium and France was not available; however, the associated emissions were estimated to be insignificant due to their small office size. ▪ We used both the market-based and the location-based approach to calculate Scope 2 emissions. ▪ Most activity data is based on actual consumption such as kWh, kilometers or metric ton-kilometers. ▪ For purchased raw materials and components to build our AC units (3.1), we improved data quality switching from a spend-based to a weight-based calculation for four major production entities. For the remaining four production entities, Category 3.1 emissions continue to be based on financial data. ▪ For Category 3.11 (Use of sold products), data quality has been improved by accounting for renewable energy use among major clients of three of our production entities. ▪ Upstream Transportation and Distribution (3.4) now includes all inbound transports as well as all outbound transportation where STULZ entities pay the transport. Calculations are based on financial data where metric tons-km data is not yet available. Due to remaining data gaps for outbound transport organized and paid by STULZ customers, Category 3.9 has not been quantified yet. This report is publicly available on our website as a PDF file. -> STULZ: SUSTAINABILITY REPORT STULZ Sustainability Report 2025 73
Publisher STULZ GmbH – Corporate Headquarters Holsteiner Chaussee 283 22457 Hamburg, Germany Tel. +49 40 5585 0 sustainability@stulz.de Sustainability consulting, content and editing STEINBACH STRATEGIEN Hamburg, Germany Design, layout and typesetting Cash Cow Farmers Hamburg, Germany Picture credits All images contained in this Report are the property of STULZ Group or have been approved by the proprietor. Reproduction in whole or in part of graphics, images, and text without the written permission of STULZ GmbH is prohibited. The cover image was created using generative AI. Note Content from these brochures may be used only with STULZ’s written consent. Exclusion of liability All disclosures in the Sustainability Report 2025 are based on information that was collected and processed with the greatest of care. Nevertheless, errors cannot be completely excluded. All statements relating to the future were based on assumptions and estimates made at the time of publication. Date October 2026 Close to you all over the world With expert business partners in subsidiaries with production plants and sales and service partners all over the globe. For more information, visit our website at www.stulz.com or download our STULZ Products and Services app.