EROAD Publishes FY24 Group Climate Statement

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EROAD Publishes FY24 Group Climate Statement
AUCKLAND, 30 July 2024: Fleet management and transport technology software company EROAD Limited
(NZX: ERD, ASX: ERD) has today published its Group Climate Statement for the reporting period ended 31 March
2024.
This report reflects the first disclosures prepared in accordance with the Aotearoa New Zealand Climate
Standards. The report seeks to provide stakeholders with an understanding of the actions that EROAD is taking
to identify and manage climate-related risks and opportunities, and the potential implications of climate change
on its business.
EROAD's FY24 Group Climate Statement is available in the Investors section of EROAD's website at:
https://eroadglobal.com/investors/ . For further information please contact: Ksenija Chobanovich, General
Counsel & Company Secretary, EROAD Limited.
ENDS

Authorised for release to the NZX and ASX by EROAD’s General Counsel & Company Secretary, Ksenija
Chobanovich.

For Investor enquiries please contact:
Jason Kepecs
Jason.kepecs@eroad.com
NZ contact: +64 21 990 474
AU contact: +61 47 7711 136
For Media enquiries please contact:
Richard Llewellyn
richard@shanahan.nz
+64 27 523 2362


About EROAD
EROAD is a fully integrated technology, tolling and services provider, based in Auckland, New Zealand. They
were the first company in the world to implement a GNSS/cellular-based road charging solution across an
entire country. They design and manufacture in-vehicle hardware, operate secure payment and merchant
gateways and offer web-based value-added services. EROAD modernises road charging and compliance for
road transport by replacing paper-based systems with easy-to -use electronic systems. They are the largest
provider of road user charges (RUC) compliance in New Zealand, and a leading provider of health and safety
compliance and fleet management solutions. EROAD is listed on the New Zealand Stock Exchange (NZX) and
Australian Stock Exchange (ASX) under the stock symbol of ERD.
www.eroad.co.nz

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PAGE 1
FY24
Climate-related
Disclosure
Prepared in accordance with
the Aotearoa New Zealand
Climate Standards
For the period:
1 April 2023 – 31 March 2024

PAGE 2 PAGE 3
Climate change is one of the most pressing
challenges of our time, demanding urgent
and concerted action from all sectors of society.
In Aotearoa New Zealand, the transport sector
alone accounts for approximately 17% of the
country‘s greenhouse gas emissions. As a key
provider to this sector, EROAD is firmly aware
of the critical importance of addressing these
challenges head-on.
At EROAD, we understand that our greatest
impact in the fight against climate change
comes through the innovative solutions we
provide to our customers. Our innovative suite
of products include the Sustainability Module
developed in collaboration with the Energy
Efficiency and Conservation Authority (EECA),
empowering fleet operators to monitor and
reduce their emissions, and promoting more
sustainable practices across the industry. We
also see future opportunities for EROAD to
contribute to decarbonising transport. For
example, we are well positioned to develop
solutions that will help governments with
decarbonisation and emission reduction efforts.
In this report we have also outlined some of
the physical and transition risks we face - from
the growing frequency of extreme weather
events to the evolving regulatory landscape.
Demonstrating our commitment to reducing
our own carbon footprint, we have set
ambitious targets for reducing our absolute
Scope 1 and 2 emissions by 54.6% by 2033,
relative to a 2023 baseline, and affirm our
commitment to reaching Net Zero emissions
by 2050.
Executive Summary
This report has been prepared and delivered
in accordances with the Aotearoa New Zealand
Climate Standards. It marks another significant
milestone in EROAD’s sustainability journey.
The process undertaken to prepare this
statement has enhanced the depth of
understanding across our value chain about
the possible ways the future could evolve
for EROAD, our supplier and partnering
ecosystems and our customers. By continuing
to develop and share our evolving approach to
understanding and managing climate-related
risks and opportunities, we help ensure that
EROAD and those we connect with are better
prepared to navigate an increasingly complex
environmental landscape.
Aligned with our purpose of delivering
intelligence you can trust for a better world
tomorrow, EROAD is dedicated to integrating
sustainability throughout our business and
operations. As a technology company,
innovation, openness, and continuous
improvement are key to our culture and
factor heavily in our climate change journey.
Our disclosures are not merely about
compliance; they present insights about
our strategic vision and opportunities for
contributing positively to a low-emissions,
climate-resilient future.
We invite you to review this report and join us
in our commitment to sustainability. Together,
we can drive meaningful change and ensure a
better world for tomorrow.
EROAD CLIMATE-RELATED DISCLOSURE 2024
PAGE 2
EXECUTIVE SUMMARY / ABOUT THIS REPORT
PAGE 4
OUR COMPLIANCE STATEMENT
PAGE 6
GOVERNANCE
PAGE 8
STRATEGY
PAGE 20
RISK MANAGEMENT
PAGE 22
METRICS AND TARGETS
Contents
Important
This report has been prepared based on information available to EROAD and its
subsidiaries as at the date of its authorisation for release. It necessarily contains
forward-looking statements, judgements and statements of opinion, including
statements regarding potential climate-related risks and opportunities, anticipated
impacts, strategy, planning and targets. These statements reflect EROAD’s current
views and expectations of future events as at the date of this report. Yet these are
subject to known and unknown risks, uncertainties and other factors that could
cause the outcomes to differ materially from those described, many of which
are beyond EROAD’s control, inherently uncertain and likely to change over time.
Actual impacts, circumstances and developments may differ materially from those
expressed or implied in this report. Accordingly, you should not place undue reliance
on any forward-looking statements in this publication or information that is subject
to significant uncertainties or reliant on assumptions. EROAD assumes no obligation
to update forward-looking statements or any other information in this report, except
as required by law or regulation. EROAD does not accept any liability whatsoever
for any loss arising directly or indirectly from use of any information contained in
this report, whether in respect of EROAD or any of its subsidiaries. This report is not
an offer or recommendation to invest in, distribute or purchase financial products.
Nothing in this report should be interpreted as advice, whether investment, legal,
financial, tax or otherwise.
PAGE 2

EROAD CLIMATE-RELATED DISCLOSURE 2024
PAGE 4 PAGE 5
Climate-related Disclosure
STATEMENT OF COMPLIANCE
EROAD Limited (EROAD) is a climate-reporting entity
(CRE) under the Financial Markets Conduct Act 2013. This
report presents our first climate-related disclosures under
the Aotearoa New Zealand Climate Standards issued by the
External Reporting Board (XRB) (Climate Standards) for
the full year ended 31 March 2024 (FY24).
This disclosure covers EROAD and its subsidiaries,
meaning the EROAD group of companies covered by our
consolidated financial statements, as listed in the already
issued FY24 EROAD Annual Report.
Releasing this report marks a milestone in EROAD’s
continuing sustainability journey, working with our
customers, business partners and suppliers in embracing
climate and sustainability considerations as part of
meaningful strategic and operational business planning.
It builds on EROAD’s previous voluntary Sustainability
Reports released in 2022 and 2023. Although climate
considerations are not new priorities for EROAD and
our operations, best practice and leading technologies
necessarily evolve over time. We look forward to continuing
to invest in developing our understanding and management
of climate-related risks and opportunities, including by
continuing to comply with the Climate Standards.
Taking into account the Adoption Provisions applied, EROAD is compliant with the Aotearoa New Zealand Climate Standards.
ADOPTION PROVISIONDESCRIPTION
Adoption provision 1: Current financial
Impacts
An exemption from disclosing the current financial impacts of the physical and
transition impacts identified and, if relevant, from disclosing an explanation as to
why quantitative information cannot be disclosed
Adoption provision 2: Anticipated financial
Impacts
Exemptions from disclosing the anticipated financial impacts of climate-related
risks and opportunities reasonably expected by a reporting entity, a description of
the time horizons over which those anticipated financial impacts could reasonably
be expected to occur and why quantitative information about anticipated financial
impacts is unable to be disclosed.
Adoption provision 3: Transition planningAn exemption from disclosing the transition plan aspects of our strategy, including
how EROAD’s business model and strategy might change to address its climate-
related risks and opportunities, and how the transition plan aspects of our strategy
are aligned with our internal capital deployment and funding decision-making
processes.
Adoption provision 4: Scope 3 GHG
emissions
An exemption from disclosing greenhouse gas (GHG) emissions: gross emissions in
metric tonnes of carbon dioxide equivalent (CO2e) classified as scope 3. In doing so,
EROAD is only electing not to disclose in this report use of sold products as a subset
of its scope 3 GHG emission sources.
Adoption provisions 5 and 6: Comparatives
for Scope 3 GHG emissions and
Comparatives for metrics
Exemptions from providing comparative information for the immediately preceding
two reporting periods for scope 3 GHG emissions and for each metric.
Adoption provision 7: Analysis of trendsAn exemption from disclosing an analysis of the main trends evident from
a comparison of each metric from previous reporting periods to the current
reporting period.
This report has been approved by the EROAD Board on
30 July 2024 and is signed on behalf of the Board by Susan
Paterson (Chair) and David Green (Chair of the Finance,
Risk and Audit Committee).
David Green
Chair of the Finance, Risk
and Audit Committee
Susan Paterson
Chair
In preparing this report, EROAD has elected to rely on these adoption provisions of Climate Standard 2 (NZ CS 2) in ensuring our climate-related
disclosures comply with the Climate Standards’ requirements for this first reporting period:

PAGE 6 PAGE 7
OVERSIGHT OF CLIMATE-RELATED RISKS
AND OPPORTUNITIES
ROLE OF THE BOARD
EROAD’s Board is the governance body ultimately responsible
for setting and overseeing of EROAD’s strategy, including
consideration of the climate-related initiatives. Climate-related
risks and opportunities are integrated within the broader risk
management framework, which intersects with EROAD’s
strategy-setting process. Our Board also determines EROAD’s
overall risk appetite and monitors the company’s performance
against climate-related metrics and targets.
EROAD’s Board is supported by its Finance, Risk and Audit
Committee (FRAC). FRAC assists the Board with EROAD’s
risk management and internal control principles. It is
responsible for overseeing overall risk management, including
monitoring and assessing EROAD’s climate-related risks
and opportunities, progress against climate-related targets
and metrics, and compliance with climate-related disclosure
requirements. Further details about FRAC’s role, its members
and how it operates in overseeing risk management can be
found in EROAD’s FY24 Corporate Governance Statement on
page 114 of the FY24 EROAD Annual Report.
However, as 2024 marks the first year for reporting by CREs
under the Climate Standards, EROAD sought feedback and
approvals regarding its climate-related disclosures, including
risks and opportunities, scenario analysis, and metrics and
targets, from the full EROAD Board. During the year to
31 March 2024, the Board held seven meetings in which
they considered climate-related disclosure, with additional
emphasis in the months of December 2023 to March 2024
aligning with the climate-related risk and opportunities
and scenario analysis development. Moving forward, these
Disclosure objective: demonstrating the role
EROAD’s governance body plays in overseeing
climate-related risks and climate-related
opportunities, and the role management plays in
assessing and managing those climate-related risks
and opportunities.
matters will be circulated to and overseen by the FRAC, given
its Board-assigned authorities, duties and responsibilities for
monitoring and assessing EROAD’s climate-related risks and
opportunities.
In FY24 the FRAC did consider some sustainability matters
at each of the four FRAC meetings. This included updates on
EROAD’s progress with climate-related disclosures and its
emissions reduction efforts.
ROLE OF MANAGEMENT
EROAD’s Executive Team, is collectively responsible for the
day-to-day delivery and management of EROAD’s strategy
and operations, including sustainability initiatives and risk
management processes.
EROAD’s Co-CEOs and Chief Financial Officer, in collaboration
with our Chief Sustainability Officer and General Counsel,
are responsible for identifying, managing and reporting
climate-related risks and opportunities to the FRAC and the
Board. EROAD’s risk management framework supports the
identification, assessment and monitoring of climate-related
risks and opportunities.
Appointed in May 2023, EROAD’s Chief Sustainability Officer is
responsible for advancing EROAD’s sustainability initiatives.
This role includes chairing and guiding EROAD’s Sustainability
Committee, a multidisciplinary working group with
representatives from key areas across EROAD’s multinational
operations. The Committee’s membership during FY24,
included participants from the supply chain, product, legal,
finance, marketing, safety and technical teams.
The Sustainability Committee meets monthly, or as otherwise
required, with an agenda that includes considering climate-
related risks and opportunities, sustainability initiatives and
climate-related metrics and targets.
Our Sustainability Committee supports and advises EROAD’s
Executive Team by identifying, assessing and managing
climate-related risks and opportunities. It also collaborates
with external advisers for specialist support where necessary.
EROAD’s Executive Team reports directly to the FRAC and
Board on behalf of the Sustainability Committee regarding
any key sustainability and climate-related matters at least half-
yearly, and more frequently as required.
The diagram on page 7 illustrates EROAD’s organisational
structure for the oversight and management of climate-related
risks and opportunities.
GOVERNANCESTRATEGY
GOVERNANCE
EROAD CLIMATE-RELATED DISCLOSURE 2024
SKILLS AND COMPETENCIES
The Board regularly assesses whether its composition delivers
appropriate competencies and skills to effectively oversee
and govern EROAD. This assessment is supported by a
skills matrix, which is regularly reviewed, maintained, and
disclosed annually as part of EROAD’s Corporate Governance
Statement.
Board members are encouraged to engage in continuous
learning opportunities, including in relation to climate
reporting and environmental matters. The Board are members
of Chapter Zero and attend events related to climate-related
matters. EROAD engages external experts for specialist
independent advice where necessary, including to support
the Board’s knowledge development. During FY24, external
advisors from KPMG and PwC presented on climate-
related matters to EROAD’s Board. Additionally, EROAD
Management representatives also participated in externally
facilitated workshops on climate-related risk and opportunity
identification and climate change scenario analysis.
INTEGRATING CLIMATE CONSIDERATIONS
INTO STRATEGY
Sustainability and climate-related considerations are
deliberately tied to our purpose, which compels EROAD
to deliver trusted intelligence for a better world tomorrow.
EROAD believes that addressing climate considerations
is essential to successfully fulfilling this purpose. These
considerations guide our decisions about the technology
we launch and the partnerships we form. A tangible
example of EROAD integrating climate-related risks and
opportunities into our broader business strategy is the
launch of the Sustainability Module during FY24. This service
records emissions and provides actionable insights to our
New Zealand customers. The Sustainability Module at 31
March 2024 had been accessed by 969 unique accounts. It
demonstrates EROAD’s strategic commitment to supporting
decarbonisation efforts in the transport sector.
SETTING TARGETS AND MONITORING PROGRESS
EROAD sets targets based on our emissions profile and key
initiatives identified in connection with that profile. EROAD
collaborates with external organisations like Toitū Envirocare
and PwC to ensure the targets are appropriate for our
business profile and reporting maturity. Progress is monitored
by EROAD’s Sustainability Committee, which reports regularly
to the Board and the Executive Team through comprehensive
risk reporting across EROAD’s wider business.
Executive remuneration is not currently directly linked to
climate-related performance metrics. However, in approving
variable remuneration the Board considers how EROAD
has delivered against its strategic goals. The Board’s People
and Culture Committee sets and regularly reviews EROAD’s
remuneration policies to ensure they are consistent with
EROAD’s strategic goals and are incorporated into short-term
and long-term incentives. Once the company’s strategic
goals are set by the Board, EROAD prepares, and the Board
approves an annual business plan that reflects milestones to
support EROAD’s climate-related targets. Targets are linked
to key business objectives endorsed by the Board. You can
read more about EROAD’s FY24 Remuneration framework on
pages 124 to 142 of the FY24 EROAD Annual Report.
RISK MANAGEMENTMETRICS AND TARGETS
Board of Directors
FRAC
All EROADers
Executive
Team
Sustainability
Committee

EROAD CLIMATE-RELATED DISCLOSURE 2024
PAGE 8 PAGE 9
GOVERNANCESTRATEGY
Disclosure objective: understanding how climate
change is currently impacting EROAD and how it
may do so in the future.
EROAD is already working with our landlord to change the
trajectory of the driveway at our San Diego site, as its design
is believed to have played a part in the quantity of rainwater
flowing into our premises.
AUCKLAND FLOODS AND CYCLONE GABRIELLE
Auckland and other parts of New Zealand’s North Island
suffered severe flooding, as consequences of record rainfall in
Auckland in January 2023 and Cyclone Gabrielle during 13 and
14 February 2023. While this event occurred before the current
reporting period commenced, it is relevant to describe as an
example of a physical risk considered in identifying, assessing
and managing climate-related risks for the current reporting
period. Analysis of the impact of events that have already
occurred helps enable an informed assessment of potential
future risks and their categorization and priortisiation. Its
relevance was reinforced when during the reporting period
Auckland declared a state of emergency in response to the
threat of flooding and landslides caused by very heavy rainfall
in May 2023. EROAD’s offices did not suffer any damage.
However, flooding did impact our employees personally,
including by disrupting capabilities for traveling to work safely
and in some cases significantly damaging the homes of some
of our employees.
During this time, our staff were not required to travel to offices
or sites that were unsafe and able to take time to deal with any
physical or personal impacts of flooding and cyclone damage,
as EROAD prioritises the safety and wellbeing of our people.
Ongoing support for mental well-being was also available
through EROAD’s existing Employee Assistance Programme
for anyone needing extra assistance or support with dealing
with the impacts from these events.
An EROAD customer responded to this emergency, by loaning
the New Zealand Police 20 four-wheel-drive vehicles to enable
better access to the worst affected areas. EROAD worked
with our customer and the New Zealand Police in providing
support, donating satellite enabled devices (EHUBO2 and
Where) so that for the vehicles and their drivers could be
located and monitored to help ensure their safety.
Transition impacts:
Technology: Climate-change related technology
developments present new opportunities for EROAD’s
solutions. The Sustainability Module offered in MyEROAD for
our New Zealand customers described on pages 34 and 35 of
the FY24 EROAD Annual Report offers an illustrative example.
CURRENT CLIMATE-RELATED IMPACTS
Climate change is already having an impact in all the regions
that we operate, presenting a serious issue for the global
economy. This section of our report identifies examples of
some of the key impacts realised within the current reporting
period. These examples are not exhaustive list and exclude
discussion about any impacts that EROAD considers to
be immaterial. These impacts will also be relevant to our
customer base. EROAD is uniquely positioned to offer support,
leveraging our extensive data and our experience being a
global business. Additionally, New Zealand’s leadership in
disclosure requirements, provides valuable insights for our
other markets.
Physical impacts:
SAN DIEGO FLOODS
In January 2024, San Diego experienced excessive and
intense rainfall causing widespread flooding, highlighting this
region’s vulnerability to extreme weather events. Flooding
occurred in our San Diego office and warehouse, when
drains at this site were unable to cope with unseasonal
and excessive rainwater. This required EROAD to vacate
this site for three and a half months while repair work was
undertaken. As rainwater mixed with sewer water the drains
overflowed and the remedial action required removal and
replacement of sections of internal walls and flooring. As a
business, EROAD experienced relatively minor disruption to
our operations, successfully supporting affected staff and
continuing to deliver our products and services to customers.
Yet the event did present exposure to unexpected business
disruption and some costs, despite our insurance cover. It is
likely that vulnerability to extreme weather events will mean
higher insurance premiums or changes in exclusions from
policies, as the incidence and impact of extreme weather
events risk becoming more likely or more intense, depending
how climates change.
STRATEGY
RISK MANAGEMENTMETRICS AND TARGETS
Political: We are already observing a shift in the policy
and legal landscape as a consequence of climate-related
considerations. These present both opportunities (e.g.
partnering with government agencies providing services
to meet commitments) and risks (e.g. regulations requiring
increased climate-related disclosures and increased climate-
related costs).
An increasing number of countries in which EROAD, our
suppliers and our customers operate have enacted or are
considering implementing mandatory climate-related
disclosures. By way of example, Australia is currently
anticipated as introducing mandatory climate-related financial
disclosures, as soon as January 2025. On 6 March 2024, the US
Securities and Exchange Commission adopted rules requiring
public companies to disclose extensive climate change-related
information in their annual reports and registration statements
starting for years ending 31 December 2025. EROAD is
supportive of the greater transparency that these regulations
and requirements provide. However acknowledging that
fulfilling these reporting requirements means further exposure
to compliance risk, increased costs and dedicated resourcing.
Social: Stakeholders are requiring greater disclosure and
expect companies to credibly demonstrate they are managing
their environmental, social and governance (ESG) issues
well. EROAD is trying to achieve this with the introduction of
science-aligned targets (refer to metrics and targets section
on pages 22 to 29 of this disclosure for further detail).
EROAD began measuring its own carbon footprint in 2022.
Following the acquisition of Coretex companies in December
2021, EROAD reset our base year for reduction measurement
to 2023 as the first year of operations as a combined Group.
Since 2023, EROAD has been looking at ways to improve
our sustainability practices and reduce carbon emissions,
establishing short-term goals for EROAD Scope 1 (fuel) and
Scope 2 (electricity) emissions and introducing science-
aligned longer-term targets.
SCENARIO ANALYSIS
SCENARIO ANALYSIS PROCESS
During FY24, EROAD completed climate change scenario
analysis to help identify and assess climate-related risks and
opportunities and better understand the resilience of our
business model and strategy. As part of this process, external
advisors from PwC NZ worked with representatives from
EROAD’s Sustainability Committee and across EROAD’s
value chain to plan and facilitate workshops and data insights
enabling analysis and then development of three climate-
related scenarios: coordinated decarbonisation; a world
divided and hot house.
These scenarios were created to support EROAD’s
identification of climate-related physical and transition risks
and opportunities that might plausibly emerge between 2024
and 2050. The scenarios that emerged from this process
and its analysis do not present an ideal transition. Instead,
each presents unique and difficult challenges for multiple
plausible futures, supporting EROAD and its Board in better
understanding how EROAD might perform should any of
these different future states occur. By actively participating in
this process, EROAD and its staff have been equipped with a
tool for assessing our strategic resilience.
The scenarios selected emerged from the analysis process
undertaken as relevant and appropriate to test and challenge
EROAD’s business as usual assumptions, informed by
EROAD contributors and a range of publicly available
climate data. The scenarios that emerged from our analysis
explore a range of warming scenarios that present varying
risks and opportunities. Each scenario has been tailored
to and informed by assumptions about EROAD’s driving
forces. The scenarios are not intended to be probabilistic
predictions about how the future might unfold, nor are they
representations of inevitable outcomes of any given trajectory.
As such, they should not, and are not intended to, be used as a
lens to determine the most likely future conditions.
The scenario analysis informing this report was standalone.
However, EROAD is working towards integrating the scenario
analysis within EROAD’s overall strategy, risk management
and business planning processes as our overarching
sustainability strategy continues to evolve and mature. Even
at this stage, the climate-related risks and opportunities
identified as an outcome from this report’s scenario
analysis have been assessed as part of EROAD overall risk
management framework and reporting, and the opportunities
identified considered as part of our FY25 business planning
processes and integrated within the wider capital deployment
and funding decision-making processes. An example of this
integration was the Sustainability Module developed for our
New Zealand customers on page 19 of this report.
As at the date of preparing this report, relevant sector-level
scenarios and analysis were not complete for EROAD to align
EROAD CLIMATE-RELATED DISCLOSURE 2024

EROAD CLIMATE-RELATED DISCLOSURE 2024
PAGE 10 PAGE 11
GOVERNANCESTRATEGYRISK MANAGEMENTMETRICS AND TARGETS
with or draw from. To explain, although EROAD supplies
products and services to a range of customers including the
transport sector, as a telematics solution provider delivering
data insights, our business and its value chain is more aligned
with the telecommunications sector. For this reason, our
scenario development and analysis was undertaken without
relying on any sector-level scenarios. This activity was
undertaken following XRB guidance and using an established
process, facilitated and supported by subject matter experts
in sustainability and climate-related governance and
disclosures from PwC NZ and using publicly available climate
science and data .
During October 2023 to March 2024 EROAD’s climate risk
and scenario analysis activities included a series of workshops
with and continuous feedback from key stakeholders and
representatives from across EROAD’s value chain and its
business segments.
Initial activities focused on identifying key climate risk and
opportunities over multiple time horizons, synthesizing those
findings and then and prioritising them. Having identified
material risks and opportunities, our process progressed
to developing the scenarios and defining and agreeing on
the organisational and operational boundaries for scenario
analysis, then identifying and ranking driving forces, the
external factors influencing pathways and outcomes of the
scenarios.
The output from this process was then synthesised and
provided to members of EROAD’s Executive Team to endorse
prior to presenting to the EROAD Board at various stages, for
feedback and approval, prior to finalising the scenarios and
using them to deliver narratives and models about anticipated
impacts of climate-related risks and opportunities. As 2024
marks the first year for reporting by CREs under the Climate
Standards, feedback and approvals about EROAD’s climate-
related disclosures and the risks and opportunities, scenarios
and their analysis and metrics and targets proposals and
assessments were sought from the full EROAD Board at Board
meetings and, where feedback was required in advance of
a Board meeting, out of cycle papers. Going forward, these
matters will be circulated to and overseen by the FRAC given
its Board-assigned authorities, duties and responsibilities for
monitoring and assessing EROAD’s climate-related risks and
opportunities.
From 2025 onwards EROAD will conduct an annual review
process including updating scenarios if required to manage
our scenario analysis.
MATERIAL RISKS AND
OPPORTUNITIES
SCOPE BOUNDARIES
FOR ANALYSIS
DRIVING
FORCES
CLIMATE SCENARIOS
DEVELOPMENT
IMPACT
ASSESSMENT
Identified and prioritised
key climate-related physical
and transition risks and
opportunities of EROAD.
Defined and agreed on
EROAD organisational and
operational boundaries for
scenario analysis, including
input from stakeholders to
support our analysis.
Identified and ranked key
driving forces. Driving forces
are the external factors that
influence the pathways and
outcomes of the scenarios.
Constructed three climate
change scenarios and
supporting narratives using
existing reference scenarios
and driving forces.
Analysed the climate
change scenarios to test
the resilience of EROAD’s
business model to
climate-related risks and
opportunities.
Climate-related risk and
opportunities register with
prioritised risks.
Climate-related scenario
analysis scope boundaries.
Prioritised set of driving
forces by influence and
uncertainty.
• Climate change scenario analysis narratives outlining key scenario
architecture, outcomes and pathways.
• Impact pathways which show how climate-related risks flow
through EROADs business into financial impacts.
• Physical risks
• Transition risks
• Opportunities
• Markets (NZ, Australia,
North America)
• Services and assets
• Sites and geographies
• Key activities
Drivers categorised by
STEEP framework
• Social
• Technological
• Economic
• Environmental
• Political
• Coordinated
decarbonisation scenario
• A world divided scenario
• Hot house scenario
Impact pathways
• Business impacts
• Financial impacts
KEY ACTIVITIES
OUTPUTS
AREAS OF FOCUS
The illustration below summarises the programme of work undertaken by EROAD in the development of the climate-related risks and opportunities and the scenario analysis:
OCTOBER 2023 TO MARCH 2024
EROAD CLIMATE-RELATED DISCLOSURE 2024

EROAD CLIMATE-RELATED DISCLOSURE 2024
PAGE 12 PAGE 13
GOVERNANCESTRATEGYRISK MANAGEMENTMETRICS AND TARGETS
SCENARIO
COORDINATED
DECARBONISATION
A WORLD DIVIDED HOT-HOUSE
Policy Ambition Global average
temperature rise limited
to 1.5 degrees Celsius by
2100
Global average
temperature rise of 2.2
degrees Celsius by 2100
Global average
temperature rise of
4.1 degrees Celsius by
2100
Emissions reduction
pathways
IPCC SSP1-1.9 (with
SSP1-2.6 where data
unavailable); NGFS Net
Zero 2050; IEA Net
Zero Emissions by 2050
(NZE); NIWA RCP2.6; CCC
‘Tailwinds’
IPCC SSP4-3.4 (with
SSP2-4.5 where data
unavailable);
NGFS Fragmented
World; IEA Announced
Pledges (APS); NIWA
RCP4.5; CCC ‘Headwinds’
IPCC SSP3-7.0 (with
SSP5-8.5 where data
unavailable);
NGFS Current
Policies; IEA Stated
Policies (STEPS);
NIWA RCP8.5; CCC
‘Current Policy
Reference’
Physical risk severity LowestModerateHighest
Transition risk severity ModerateHighestLowest
Policy reactionImmediate and smoothDelayedMinimal
Technology changeFastSlow then fast Slow
Behaviour changeFastSlow then fastSlow
Socio-political instabilityLowModerateHigh
Description
COORDINATED DECARBONISATION
A world with coordinated action in public policy and
technology towards a low-emissions world. Net-zero emissions
are achieved globally by 2050, and temperature increase is
limited to below 1.5°C, with limited overshoot. This is driven
by collective buy-in from the public, investors, businesses,
and governments. These changes are accompanied by an
increasing carbon price that incentivises low-carbon behaviour
change. Physical weather event impacts and transition risks
occur, but not as severely as in the other scenarios.
A WORLD DIVIDED
Efforts to decarbonise are highly differentiated across the
world. Different countries and even states within countries
have wildly varying levels of ambition to decarbonise and
enact emissions-reducing regulations. This misalignment
creates particular challenges for organisations that operate
across borders. Globally, emissions peak around 2030, but net
zero is not reached until the 2080s. The world is on track for
over 2°C of warming by 2100. Physical climate impacts are
pronounced, particularly in vulnerable regions.
HOT-HOUSE
A world where global cooperation is low and regulations
are not enacted to reduce emissions. Unabated fossil fuel
use continues, and temperature continues to rise at an
unprecedented rate, on track for over 4°C of warming by the
end of the century. Any adaptation to climate change is driven
by short-term economic interests. Weather events and chronic
impacts are severe, coupled with the destabilisation of social
and economic structures. Climate tipping points are crossed
and ecosystems are devastated.
The three climate-related scenarios selected for EROAD and used for this reporting period and their key characteristics and
assumptions comprise:
IPCC - Intergovernmental Panel on Climate Change
SSP - Shared Socioeconomic Pathways
NGFS - Network for Greening the Financial System
IEA - International Energy Agency
NIWA - National Institute of Water and Atmospheric Research
RCP - Representative Concentration Pathways
CCC - Climate Change Commission
Boundaries
TIME HORIZONS
Short term: 1-3 years (up to 2027); Medium term: 3-10 years
(up to 2035); Long term: 10-30 years (2050 end point).
Time horizons refer to EROAD’s financial year and align with
XRB requirements for analysis at three points in time: short,
medium and long-term. 2050 as an end date is long enough
to capture a range of potential transition and physical risks
and aligns with 2050 Net Zero targets set by New Zealand and
internationally.
GEOGRAPHY
The boundary for EROAD’s scenario analysis was the whole
EROAD group organisation, including our subsidiaries,
focusing on our core markets in New Zealand, North America
and Australia as well as manufacturing sites and change to:
geographies. These geography boundaries were agreed
with input from stakeholders as most applicable to EROAD‘s
operational and market footprint.
EROAD CLIMATE-RELATED DISCLOSURE 2024
Glossary:
The numbers and descriptors next to the above acronyms refer to the reference sources for each scenario.

EROAD CLIMATE-RELATED DISCLOSURE 2024
PAGE 14 PAGE 15
Climate-related risks and opportunities
EROAD risks and opportunities have been assessed against
our climate risk scenarios, considering short term (1-3 years),
medium term (3-10 years) and long term (10-30 years) time
horizons. These time periods link closely to EROAD business
planning processes focus (1-3 years), medium-term strategic
focus (3-10 years), GHG emission targets for 2033, and
long-term out to a 30-year horizon aligns with international
emission reduction targets (Paris Agreement, 2050). A
materiality test was also applied to focus on the key physical
and transition risks and opportunities for EROAD.
RISKSDRIVERS AND ANTICIPATED IMPACTS
COORDINATED
DECARBONISATION
A WORLD
DIVIDED
HOT-HOUSE
PHYSICAL
RISKS
(P1) Damage to third-
party infrastructure and
services relied upon
An increase in the frequency and severity of extreme weather
events may cause to damage to third party technology
infrastructure and services that EROAD relies on, such as cloud
computing and local network providers leading to outages,
decreased data retention, inability to meet key supply agreements,
and decreasing consumer satisfaction.
(P2)Disruption to key
infrastructure (i.e. roads
and ports)
An increase in the frequency and severity of extreme weather
events, especially in key distribution and manufacturing
locations, could lead to long-term damage and disruption to
key infrastructure essential to move product to market both
nationally and internationally, resulting in increased operating
costs to manage contingencies and inability to meet key supply
agreements etc.
(P3) Supply chain
disruption
An increase in the frequency and severity of extreme weather
events, specifically flooding, could lead to increased damage
to stored hardware and warehousing resulting in increased
operational and capital expenditure, inability to meet key supply
agreements, and increased cost of insurance etc.
GOVERNANCESTRATEGY
Physical risks are those relating to the physical impacts of
climate change, including via temperature, rainfall, storms,
extreme weather events, and sea-level rise. Transition risks
are those related to the transition to a low-emissions, climate-
resilient global and domestic economy, such as policy, legal,
technology, market and reputation changes associated with
the mitigation and adaptation requirements relating to climate
change.
High likelihood and impact
Medium likelihood and impact
Low likelihood and impact
1-3 years
3-10 years
10-30 years
RISK MANAGEMENTMETRICS AND TARGETS
THE KEY
The following table sets out EROAD’s key climate-related risks and opportunities and the likelihood of climate-related risks materialising in the three scenarios:
EROAD CLIMATE-RELATED DISCLOSURE 2024

EROAD CLIMATE-RELATED DISCLOSURE 2024
PAGE 16 PAGE 17
RISKSDRIVERS AND ANTICIPATED IMPACTS
COORDINATED
DECARBONISATION
A WORLD
DIVIDED
HOT-HOUSE
TRANSITION
RISKS
(T1) EROAD holds onto
current products and fails
to develop new products
to meet changing needs
of customers
Limited clarity on how fuel taxes will evolve and future
requirements of customers could lead to EROAD holding on to
current products e.g. Electronic RUC and failing to develop
new products to meet changing consumer preferences
resulting in loss of market share, reduction in obtainable
market, loss of revenue.
(T2) Inability to keep
up with rate of global
technological change
Increased global competition, limited access to emerging
sustainability data collection methods, and uncertainty around
how technology will evolve may lead to EROAD being unable to
keep up with the rate of global technological change, resulting
in EROAD losing consumer favour in the market, decreased
competitive advantage, reduction in market share, reduced ability
to achieve strategy.
(T3) Increased
competition and barriers
to markets
Increased demand for the fleet sustainability performance data
and carbon emissions data that EROAD reports on, in addition
with difficulty protecting EROAD‘s intellectual property may create
increased competition and barriers to certain markets, resulting
in a loss of competitive advantage, decrease in revenue, and
decreased market share/access to market.
(T4) Increased climate-
related costs
Tightening environmental regulation and increased demand for
sustainability skill sets could lead to significant direct and indirect
compliance costs for EROAD and external suppliers, resulting in
increased operational expenditure as EROAD transitions towards
costly, more sustainable practices, reduced revenue and customer
base if clients cannot afford to meet rising costs, or financial
penalties if compliance cannot be met.
GOVERNANCESTRATEGYRISK MANAGEMENTMETRICS AND TARGETS
THE KEY
High likelihood and impact
Medium likelihood and impact
Low likelihood and impact
EROAD CLIMATE-RELATED DISCLOSURE 2024
1-3 years
3-10 years
10-30 years

EROAD CLIMATE-RELATED DISCLOSURE 2024
PAGE 18 PAGE 19
GOVERNANCESTRATEGY
OPPORTUNITYDRIVERS AND ANTICIPATED IMPACTS
COORDINATED
DECARBONISATION
A WORLD
DIVIDED
HOT-HOUSE
OPPORTUNITIES(01) EROAD as a
preferred supplier
There is an opportunity for EROAD to partner at the OEM
level, and position itself as a low-emissions wholesaler and
distributor of in-vehicle hardware, enabling EROAD to be
a preferred supplier due to consumer preference for low-
carbon products.
(02) Form valuable
partnerships
There is an opportunity for EROAD to leverage their leading
NZ market position to form valuable partnerships across the
sustainability ecosystem.
(03) Leverage data
analytics to provide
insights to customers
With increased customer data and intelligence, there is the
opportunity for EROAD to leverage data analytics to provide
insights to aid customers in their (customer) strategic planning
and become a trusted source of information as extreme weather
events increase.
(04) Develop features for
emissions reporting
As a result of the transition towards a lower carbon economy
there is the opportunity for EROAD to bring added value
to customers by developing features that can monitor and
report on emissions throughout the customer supply chain,
for example adding electric vehicle RUC collection capabilities
to the product suite as RUC for electric vehicles has been
introduced.
For more information on EROAD’s current business model
and strategy, please see the Our Strategy section of the FY24
EROAD Annual Report on pages 14 to 19.
EROAD has not developed a transition plan to an extent
that would fully meet the requirements of NZ CS 1 and has
therefore applied Adoption Provision 3 (paragraph 15), which
provides an exemption in the first reporting period from
the requirements to disclose the transition plan aspects of
an entity’s strategy. This includes exempting EROAD from
disclosing for this first reporting period how our business
model and strategy might change to address its climate-
related risks and opportunities, and how the transition plan
aspects of our strategy are aligned with our internal capital
deployment and funding decision-making processes.
EROAD has already taken a number of actions that
demonstrate our progress towards developing the
transition plan aspects of our strategy, including by
applying a governance and risk management framework
that considers climate-related metrics and climate-related
risks as part of EROAD’s overall risk management processes
and business planning.
EROAD has set science-aligned targets for reduction of our
absolute Scope 1 and 2 emissions by 54.6% by 2033 relative
to a 2023 baseline year and confirms for the purposes of this
RISK MANAGEMENTMETRICS AND TARGETS
Important opportunity
Encouraged opportunity
Possible opportunity
THE KEY
report our ongoing commitment to Net Zero 2050. These
targets are in line with limiting our impact to a 1.5º warming
scenario. Where we are unable to reduce emissions, we will
look to utilise appropriate offsets.
For FY24, EROAD’s strategy focuses sustainability
initiatives investment on our customers and their emissions,
demonstrable by our development and provision of
a sustainability tool to the New Zealand market. This
Sustainability Module equips fleet operators with critical
emissions data and empowers them with the tools to
implement effective and measurable sustainability strategies.
By developing and delivering for customers these types of
tools, EROAD can have a real impact on wider emissions in
delivering value to the customers we serve. In FY25, our
goals are to continue to deliver sustainability-focused tools
capable of contributing to monitoring and consequentially
assisting with the reduction of emissions for our Australian
and North American customers and overall national Net
Zero targets. We will also continue to focus on our internal
emissions measurement and imploring initiatives to reduce
these, continuing to work with Toitū Envirocare and other
organisations enabling science-based tools, actions and
evidence supporting meaningful emissions measurement
and reduction.
EROAD CLIMATE-RELATED DISCLOSURE 2024
1-3 years
3-10 years
10-30 years

EROAD CLIMATE-RELATED DISCLOSURE 2024
PAGE 20 PAGE 21
GOVERNANCESTRATEGY
Disclosure objective: understanding how an
entity’s climate-related risks are identified, assessed
and managed and how those processes are
integrated in existing risk management processes.
IDENTIFYING AND ASSESSING
CLIMATE-RELATED RISKS
In FY24, EROAD completed its first formal climate-related
risk assessment as a standalone exercise, as part of our
scenario analysis and narratives, which have been developed
in consultation with PwC from climate-related risks,
opportunities, driving forces and publicly available climate
science.
This climate-related risk assessment looked at our three core
markets (New Zealand, Australia and North America) and
our entire value chain including inbound logistics, product
development, operations and manufacturing (including
suppliers), sales and marketing and the supply of hardware
and services to customers.
The time horizons considered are short term (1-3 years),
medium term (3-10 years) and long term (10-30 years).
These time periods link closely to EROAD business planning
processes focus (1-3 years), medium-term strategic focus (3-
10 years), and long-term out to a 30-year horizon aligns with
international emission reduction targets (Paris Agreement,
2050).
The identified climate-related risks and opportunities
were reviewed by EROAD’s Sustainability Committee and
approved by our Chief Sustainability Officer, Chief Financial
Officer and Co-Chief Executive Officers for presentation to
the Board for their oversight and approval.
MANAGING AND INTEGRATING CLIMATE-
RELATED RISKS INTO EROAD’S OVERALL
RISK MANAGEMENT
EROAD’s overall risk framework is designed to identify
material financial, operational and strategic risks that may
impact EROAD’s ability to deliver. Risks identified are
included in our risk register.
EROAD’s risk register describes risks, their anticipated
impact, mitigations and monitoring. Risks are then assessed
by reference to Board-defined tolerances, established by
EROAD’s Board-approved risk appetite statement.
Overall responsibility of the risk register lies with EROAD’s
General Counsel, Chief Financial Officer and Co-Chief
Executive Officers, with input from business leaders as
appropriate. Risk management is the responsibility of line
managers with General Managers responsible for assessing
and managing risks in their respective divisions and ensuring
appropriate controls are in place to mitigate the risk from
occurring or its potential impact. Operational risks are
reviewed regularly and reported to the Board at each Board
meeting. Key enterprise risks are reviewed by management
at least half-yearly with reporting on any material changes
to key enterprise risks on the same frequency to the Finance,
Risk and Audit Committee or the Board.
EROAD’s existing risk framework was considered and applied
when determining risk prioritisation for our climate-related
risks and opportunities. Adopting this existing framework
has helped ensure compatibility with and visibility of
RISK MANAGEMENT
RISK MANAGEMENTMETRICS AND TARGETS
climate-related risks as part of EROAD’s overall risk
management approach, integrating climate-related risks into
our enterprise-wide overarching risk register, supporting risk
management and monitoring in accordance with existing
processes. Our existing risk framework assesses a risk’s
likelihood and severity. Likelihood refers to the probability
of a risk eventuating and is determined by considering
vulnerability, speed of onset, persistence, complexity
and other similar factors. Severity relates to the impact
or consequences of the risk. For climate-related risks, a
three-dimensional approach was taken to assess each risk
for the consequence of the threat (severity), persistence
(duration of the risk effect) and preparedness (to respond
to the risk). The material climate-related risks identified have
been consolidated and integrated into EROAD’s main risk
register and existing processes to ensure they are considered
together with all types of risks across EROAD’s entire value
chain.
Our climate-related risk assessment will continue to be
completed on at least an annual basis as part of existing risk
management processes. Embracing regularly identifying,
assessing and managing climate-related risks within our
existing risk processes helps ensure that these remain
visible and relevant. This supports building and embedding
resilience and climate change considerations into our
strategy, business planning and operations.
We will continue to integrate climate-related risks into
existing EROAD risk management processes in FY25.
EROAD CLIMATE-RELATED DISCLOSURE 2024

EROAD CLIMATE-RELATED DISCLOSURE 2024
PAGE 22 PAGE 23
GOVERNANCESTRATEGY
Disclosure objective: understanding how an entity
measures and manages its climate-related risks and
opportunities.
GHG EMISSIONS
EROAD has been measuring carbon emissions since 2022.
After acquiring Coretex Limited and its subsidiaries on
1 December 2021, EROAD commenced measuring and
reporting on carbon emissions for EROAD’s overall group
from 2023.
EROAD measures its Scope 1, 2 and selected Scope 3
emission sources. The main exclusion from EROAD’s Scope
3 measurement is Category 11: Use of sold products. Further
work is required to report on this emission area.
During 2024 we disaggregated our Scope 3 emissions
into discrete categories and restated our 2023 base year
emissions to align with this new disaggregation. Our
disaggregation process identified that certain Scope 3
emissions in our boundary had been double-counted in our
base year, which was necessarily adjusted with restated
figures also undergoing audit and re-certification. The impact
of the restatement of our GHG emissions was a reduction of
4,364 tCO2e, with our restated base year emissions for 2023
being 24,247 tonnes of carbon.
METRICS AND TARGETS
GHG EMISSIONS MEASUREMENT
EROAD measures and manages our Greenhouse Gas (GHG)
emissions in accordance with the requirements of ISO 14064-
1 Greenhouse Gases – Part 1: Specification with guidance at
the organisational level for the quantification and reporting
of greenhouse gas emissions and removals (ISO 14064-
1:2018) and aligned with GHG Protocol.
EROAD uses Toitū’s emanage tool to calculate our emissions
with emission factors. Global Warming Potential rates
are provided within the software and accompanying
guidance documents. The emanage tool in 2023 and 2024
included emission factors determined by the Ministry for
the Environment’s 2023 “Measuring Emissions: A guide for
organisations”, Department for Business, Energy & Industrial
Strategy and unique emission factors approved by the
Environmental Protection Authority.
BOUNDARIES
EROAD applies the operational control and consolidation
approach to its emissions. Organisational boundaries were
set with reference to the methodology described in the GHG
Protocol and ISO 14064-1:2018 standards. This consolidation
approach allows us to focus on emissions we can control and
for which we can implement management actions. The scope
of our emissions inventory includes all activities within the
operational boundaries of EROAD Limited, including head
offices and EROAD operated warehouses.
ASSURANCE OF GHG EMISSIONS
External verification has been obtained on EROAD’s
operational GHG emissions calculations through our
certification under the Toitū carbonreduce programme.
Through this programme our operational GHG emissions
were measured and certified in accordance with ISO 14064-
1:2018. For 2024 a reasonable assurance level was obtained
for all mandatory categories of the programme and limited
assurance for staff commuting and certain Scope 3 emissions
that are reported using the dollar spend method.
Scope 3 emissions from our supply chain are calculated in
accordance with the GHG Protocol and where specific data
on quantities of supply chain goods and services was not
available, we have estimated emissions using spend-based
factors. Given most of our emissions are in Scope 3 obtaining
emissions data from our suppliers will be a focus of EROAD
going forward to help enhance the quality of our data.
RISK MANAGEMENTMETRICS AND TARGETS
SCOPE 3
Indirect emissions
Category 1: Purchased goods and services
20.2% Catch-all category for emissions not
captured elsewhere
Category 2: Capital goods
48.2% PPE including hardware and inventory
additions, software and platform development costs
Category 3: Fuel and energy related activities
0.0% Electricity transmission and distribution
losses (losses from the electricity usage under Scope 2)
Category 4: Upstream transportation
and distribution
2.1% Freight from suppliers to EROAD, between
our locations and for shipping of component materials
to the manufacturers via air, sea and road
Category 5: Waste generated in operations
0.1% Waste generated from EROAD offices
and warehouses
Category 6: Business travel
4.0% Air travel, taxis, employee mileage claims,
rental cars, accommodation
Category 7: Employee commuting
2.5% Employee commuting and working from
home emissions
Category 8: Upstream leased assets
1.5% Leased buildings and vehicles (rental
expenses)
Category 9: Downstream transportation
and distribution
0.4% Freight from EROAD to customers
Category 12: End-of-life treatment
of sold products
5.4% Emissions from the return/disposal of
our products
Category 13: End-of-life treatment
of sold products
14.6% Services provided to the hardware assets
i.e. SAAS costs
GHG EMISSIONS SUMMARY BREAKDOWN
Below is a breakdown of total EROAD Scope 1, 2 and 3 emissions for FY24
SCOPE 1
Direct emissions and removals
0.5%
Fuel usage for our fleet vehicles
SCOPE 2
Indirect emissions from imported energy
0.3%
Electricity usage at EROAD offices and warehouses
EROAD CLIMATE-RELATED DISCLOSURE 2024

EROAD CLIMATE-RELATED DISCLOSURE 2024
PAGE 24 PAGE 25
GOVERNANCESTRATEGY
SCOPE
FY24
tCO2e
FY23
tCO2e
FY24 vs FY23
%
Gross Scope 1: Direct Emissions And Removals140.8 167.6 16%
Gross Scope 2: Indirect Emissions From Imported Energy89.3 82.1 9%
Gross Scope 3: Indirect emissions25,919.9 23,997.2 8%
TOTAL GROSS EMISSIONS26,150.0 24,246.9 8%
Scope 3 emissions made up of:
Category 1: Purchased goods and services5,283.8 4,987.5 6%
Category 2: Capital goods12,616.1 11,977.2 5%
Category 3: Fuel and energy related activities6.4 6.8 5%
Category 4: Upstream transportation and distribution559.3 554.2 1%
Category 5: Waste generated in operations25.6 19.9 29%
Category 6: Business travel1,057.2 561.4 88%
Category 7: Employee commuting648.8 840.8 23%
Category 8: Upstream leased assets390.3 344.9 13%
Category 9: Downstream transportation and distribution*97.8 8.4 1069%
Category 12: End-of-life treatment of sold products1,404.2 1,178.9 19%
Category 13: Downstream leased assets3,830.5 3,517.2 9%
RISK MANAGEMENTMETRICS AND TARGETS
In 2024, EROAD’s total emissions were 26,150 tonnes of
carbon, representing an 8% (1,903 tCO2e) increase on our
2023 base year total emissions on an absolute basis. As
EROAD continues to grow, with more and more connected
units, our absolute emissions are also likely to grow. Our
aim is to implement improvements in design, technology,
operations management and behavioural change, so that
the increase in absolute emissions is less than the increase in
business growth.
EMISSIONS REDUCTION TARGETS
As part of our base year, EROAD set two initial reduction
targets of a 4% in Scope 1 (fuel) emissions and 15% in Scope
2 (electricity) emissions by 31 March 2025.
For our re-certification of 2024 additional targets were set
to reduce absolute net Scope 1 and 2 emissions by 54.6% by
the year 2033 relative to our 2023 base year, and an intensity
measure to reduce Scope 1 and 2 emissions per million dollar
of revenue by 61% by 2033 relative to a 2023 baseline. These
targets have been set in line with the requirements of the
Toitū carbonreduce certification and developed utilising the
Science Based Targets Initiative target setting tool aligned
with the 1.5 degree Celsius pathway. This target has not been
validated by the Science Based Targets Initiative.
EROAD confirms its commitment to reduce net Scope 1, 2
and 3 GHG emissions to zero by 2050. In the future we will
look to further expand our Scope 3 boundary to measure the
current exclusions and consider adding appropriate Scope
3 interim emission targets as our understanding of these
emissions improves and to support the overall 2050 net
zero goal.
It is also our intention to include customer targets in the
future, focusing on seeking to provide data insights that
can assist our customers to reduce their own Scope 1 (fuel)
emissions per distance travelled. Target reduction and base
year to be determined during FY25. These emissions are
not part of EROAD’s scope boundary. However, given the
nature of our business and the industries we serve, we know
our largest opportunity for impact on reducing emissions is
working with our customers.
* FY23 Category 9 emissions partially disaggregated, balance included in Category 4.
EROAD CLIMATE-RELATED DISCLOSURE 2024

EROAD CLIMATE-RELATED DISCLOSURE 2024
PAGE 26 PAGE 27
GOVERNANCESTRATEGY
PERFORMANCE AGAINST TARGETS
On an absolute basis, in 2024, EROAD has seen a decrease
of 16% in our fuel emissions and an increase of 9% in
our electricity emissions. The decrease in fuel emissions
reflect our choice to reduce our own fleet vehicle size, as
well as adopting a strategy of gradually migrating from
Internal Combustion Engine Vehicles to Electric Vehicles.
Our increase in electricity emissions is largely due to staff
returning to our offices and our sites being redeveloped
for improved space utilisation. During 2023, our San Diego
office was unoccupied for a few months while renovation
works were undertaken. During FY 2024, we saw this space
reoccupied and more fully utilised. The electricity emissions
result is gross emissions and does not account for any
offsets obtained through supplier and product choice. When
measuring our progress at 31 March 2025 we will consider
any offsets. Work is continuing in both these areas to support
continuing to meet our established targets for fuel emissions
and our initially set targets for 2025 for electricity emissions..
OTHER METRICS
EROAD has selected total revenue and contracted units as
appropriate intensity measures for our emissions.
Unless otherwise stated, all references to dollars in this
disclosure are in New Zealand dollars (NZD).
RISK MANAGEMENTMETRICS AND TARGETS
METRIC20242023
MILLION DOLLARS OF REVENUE (NZD)
182.0163.4
TOTAL CONTRACTED UNITS
250,890225,808
Gross Scope 1 (tCO2e) per $m of revenue
0.771.03
Gross Scope 2 (tCO2e) per $m of revenue
0.490.50
Combined Gross Scope 1 and 2 (tCO2e)
per $m of revenue
1.261.53
Gross Scope 3 (tCO2e) Per $M Of Revenue
142.42146.86
GROSS ALL SCOPES (TCO2E) PER $M
OF REVENUE
143.68148.39
Gross All Scopes (tCO2e) Per Contracted Units
0.100.11
18%
3%
EROAD CLIMATE-RELATED DISCLOSURE 2024

EROAD CLIMATE-RELATED DISCLOSURE 2024
PAGE 28 PAGE 29
GOVERNANCESTRATEGYRISK MANAGEMENTMETRICS AND TARGETS
METRICCOMMENTARY
Capital deployment
EROAD has invested $1.6 million (NZD) to 31 March 2024, to develop sustainability reporting for
our New Zealand based customers. This expenditure includes the capitalisable costs of the project
(predominantly engineering time) and additional time spent on research and administration by
those teams. It does not include time spent by Management and other departments that are
not costed to the project. We aim to improve our data capture in these areas going forward. This
investment will extend during our next financial year to provide appropriate data to our Australian
and North American based customers.
Going forward as we learn more about or climate-related risks and opportunities we will allocate
appropriate time and resource in this space.
Internal emissions price
EROAD does not currently use an internal emissions price. As initiatives for reduction are
weighed up the current cost of carbon credits against the cost and impact of the initiatives will be
considered.
Remuneration
Management remuneration has not yet been linked directly to climate-related risks and
opportunities. However, EROAD prepares an annual business plan that reflects milestones that
support EROAD’s climate-related targets.
Industry standards
The industry standards for EROAD’s sector (software and information technology services) are
not yet widely adopted. EROAD will continue to monitor this position and intend to adopt any
metrics emerging as relevant for our operations in the future.
METRICCOMMENTARY
Transition risks
EROAD’s key transition risks include technology changes, increased competition or barriers to
markets and increased climate costs. A more detailed description of EROAD’s transition risks are
included in the climate-related risks and opportunities table in the Strategy section of this report.
Collectively these risks may impact EROAD’s business as a whole. Given the speed of technology
change, market changes and regulatory policy change, trying to quantify EROAD’s exposure
or identify a meaningful and material outcome is not currently possible. 100% of the EROAD
business could be exposed to the transition risks identified. Yet the severity of the risks may vary.
Although the potential exposure could be up to 100%, these risks are being actively managed
and monitored. Consequently, if the risk were to materialise, the current impact to the business is
considered to be low.
Physical risks
EROAD’s key physical risks from climate change scenarios include damage to third-party
infrastructure (network towers, roads or ports) and other supply chain disruption.
Damage to network infrastructure is likely to be region specific. Depending on how localised
damage could be, from zero to 100% of connected units in a region could be impacted while
awaiting resolution of alternative coverage.
Damage to roads and ports would slow-down how quickly products could be moved, relying on
development of alternative shipment routes and methods. This risk is likely to be region specific
and unlikely to impact EROAD’s business in its entirety.
Supply chain disruption impact would be limited in the short term, as EROAD maintain
certain stock on hand (at least three months worth depending on production times required
for individual products). Over the medium and longer term the impact to EROAD business is
expected to be region and product specific. EROAD is equipped to mitigate this risk given our use
of different manufacturers in different localities If supply disruption occurs, impact would likely be
limited to a specific region or product type, enabling EROAD to set-up alternative manufacturing
options or offer to supply different products from our overall portfolio.
Climate-related
opportunities
EROAD is mindful of climate-related opportunities across our business, including the potential
for our development of products and services for customers to contribute to a lower emissions
economy.
EROAD’s main contributing asset to climate-related opportunities is our people and their time.
Outside of capital projects this time is not currently measured. We will look to develop measures
to monitor efforts spent on developing climate-related opportunities going forward. EROAD’s
maturity in this space is ongoing. Over time the percentage of our people, systems and processes
deployed on these opportunities is expected to increase.
Additional metrics required under the Climate Standards include disclosure on the amount or percentage of business activities
vulnerable to transition and physical risks and amount aligned with climate-related opportunities, the capital deployed towards
climate-related risks and opportunities, internal emissions pricing and remuneration linking.
As EROAD’s climate response journey continues and we gain a deeper understanding of our climate-related risks and opportunities
this will drive further development of metrics and targets used to measure and monitor climate-related risks across our business.
LOOKING AHEAD
EROAD remains committed to advancing sustainability across
all areas of our value chain and with and for our customers.
Our climate strategy, driven by innovation and continuous
improvement, reflects EROAD’s established dedication to
pursuing a more sustainable future. While we recognise that we
are on a journey, we remain committed to making meaningful
progress, working with our customers, partners, and
stakeholders in continuing to take thoughtful steps towards a
low-emissions, climate-resilient future.
EROAD CLIMATE-RELATED DISCLOSURE 2024

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