FY2025 Climate Statement

EBOS Group Limited. NZBN 9429031998840
108 Wrights Road, Addington, Christchurch, New Zealand, 8024
Level 7, 737 Bourke Street, Docklands, Victoria, Australia, 3008
Phone: +61 3 9918 5555, Fax: +61 3 9918 5588.
www.ebosgroup.com



1 October 2025
NZX/ASX Code: EBO

FY 2025 Climate Statement


Please see attached EBOS’ Climate Statement in respect of the year ended 30 June 2025. A copy is
also available at: https://www.ebosgroup.com/sustainability/climate-statement.


Authorised for lodgement with NZX and ASX by Janelle Cain, General Counsel, EBOS Group
Limited.

Contact:
Janelle Cain
General Counsel
EBOS Group Limited
+ 61 3 9918 5555

1
EBOS Climate-related Disclosure for FY25
Climate-related Disclosures for FY25
Climate
Statement

2
EBOS Climate-related Disclosure for FY25
Table 1: Overview of climate scenarios
Table 2: Overview of projected climate hazards
Table 3: Climate-related risks
Table 4: Unquantifiable transition risks
Table 5: Current physical climate risk exposure to sites
Table 6: EBOS’ transition plan progress to date
Table 7: GHG emissions
Table 8: Other metrics
Table 9: Targets
Figure 1: Organisational Structure and ESG Steering Committee composition
Figure 2: Gross Operating Revenue
Figure 3: Tools and methods used for scenario-based analysis
Tables
Figures
1. Introduction 3
2. Governance 5
3. Strategy 7
4. Risk Management 17
5. Metrics and Targets 18
Contents

3
EBOS Climate-related Disclosure for FY25
1.1 Purpose
This Climate Statement has been prepared to inform investors,
potential investors, lenders and other creditors (being defined
categories of ‘primary users’ of this Climate Statement) about
material climate-related matters for EBOS Group Limited (EBOS
or the Group) as required by the New Zealand Financial Markets
Conduct Act 2013 (FMCA).
For our broader stakeholder group, we also provide an overview of
our ESG activities and strategies, including Ethical Sourcing,
Our People, Community and Environment, Data Security and
Privacy, and Sustainable Packaging in our annual report and online
at https://www.ebosgroup.com/sustainability/.
1.2 Statement of compliance
This Climate Statement has been prepared by EBOS for the period
1 July 2024 – 30 June 2025 (FY25). It has been prepared in accordance
with the ‘Aotearoa New Zealand Climate Standards’ (the Standards).
Use of adoption provisions is set out at Section 1.6 below.
1.3 Reporting period and entity
The climate-related disclosures in this report have been prepared
for the same reporting period and reporting entity and in the same
presentation currency as the Group’s annual financial statements
for FY25.
1.4 Principles of reporting
This report is EBOS’ second mandatory Climate Statement and
sets out EBOS’ current understanding of EBOS’ climate-related
risks and opportunities as well as current and anticipated impacts
of climate change on EBOS, and how we manage these risks.
The information contained in this report reflects our current
understanding as at 30 September 2025, in respect of FY25.
Disclaimer
Climate-related information
During FY25, EBOS continued to refine its climate-related risks
and opportunities, its anticipated impacts from these risks and
opportunities, and developed its transition plan. The description
of these items in this Climate Statement replaces those in our
previous Climate Statement and related disclosures in our annual
reports and sustainability reports.
We acknowledge that some information in this Climate Statement
will evolve over time and that the data and inputs we have currently
are also evolving, and in many cases are novel and based on
significant assumptions. As such, the representations in this
Climate Statement are subject to significant uncertainties.
In some cases, we rely on suitably qualified third parties for
information included in this Climate Statement (for example,
but not limited to, projected climate hazards and anticipated
impacts). The information available from third parties may change
over time due to a number of factors, including a change in
reporting methodology or changes in reporting standards applying
to that third party.
Forward-looking statements
This report contains forward looking statements, including climate-
related scenarios, targets, assumptions, climate projections,
forecasts, statements of EBOS’ future intentions, estimates and
judgements. These statements involve assumptions, forecasts and
projections about EBOS’ present and future strategies and the
environment in which EBOS will operate in the future, which are
inherently uncertain and subject to limitations, particularly as to
inputs, available data and information which is likely to change.
The risks and opportunities described here, and our strategies to
achieve our targets, may not eventuate or may be more or less
significant than anticipated. There are many factors that could
cause EBOS’ actual results, or performance or achievement of
climate-related metrics (including targets) to differ materially from
that described, including economic and technological viability,
as well as climatic, government, consumer, and market factors
outside of EBOS’ control. EBOS has sought to provide a reasonable
basis for forward-looking statements and is committed to
progressing our response to climate-related risks and opportunities
over time, but we caution reliance on aspects of this report that are
necessarily less reliable than other aspects of our annual reporting.
This report is not an offer document and does not constitute an
offer or invitation or investment recommendation to distribute or
purchase securities, shares, or other interests. Nothing in this report
should be interpreted as capital growth, earnings or any other legal,
financial, tax, or other advice or guidance. For detailed information
on our financial performance, please refer to our annual report.
To the maximum extent permitted by law, EBOS and its directors,
officers, employees and contractors shall not be liable for any
loss or damage arising in any way from or in connection with any
information provided or omitted as part of this Climate Statement.
1.5 Risks, including in relation to targets
Market and industry dynamics outside our strategic planning
horizon: Our annual strategic business review horizon is typically
three years, which we consider adequate for our wholesale,
distribution and contract logistics activities. These activities, which
comprise 91% of Gross Operating Revenue (GOR)
1
(see section 3.5)
are service offerings that require dynamic responses to market
changes and changes in the behaviours of market participants,
including governments. Developments unrelated to climate, such
as, but not limited to, medical advancements, new funding models,
global or regional health crises and changes to care delivery, could
result in a strategic response or business and industry changes
that could invalidate the risk and opportunity assessment in this
disclosure.
Regulatory approvals/ changes impacting solar arrays:
The Group’s ability to meet the targets we have set (see section
5.4) relies, in part, on the construction and commissioning of solar
arrays in Australia and the entry into relevant agreements related
to those solar arrays. The construction and commissioning of the
arrays may be impacted by delays in regulatory approvals, the
timely implementation of necessary government-owned electricity
distribution network infrastructure or regulatory changes.
Availability of carbon credits and offsets: The ability to meet the
targets we have set relies, in part, on Australian Carbon Credit
Units (ACCUs)
2
being available at an economic price. The Group
does not control the price of ACCUs. If the price of ACCUs was to
substantially increase such that it was uneconomic for the Group
to purchase ACCUs (or a recognised equivalent), this would impact
the Group’s ability to offset its emissions.
Use of unaccredited offsets: The Group reports on carbon offsets
generated by Greenfleet, a long-standing partner of the Group.
Unlike ACCUs, these offsets are not accredited but are subject to
assurance by an independent third party engaged by Greenfleet.
If we set targets for certain Scope 3 emissions in the future, we
may rely on Greenfleet offsets. If Greenfleet cannot generate the
expected carbon offsets for any reason, this will impact the Group’s
ability to offset emissions and could mean that the Group seeks to
acquire offsets from an alternative source, such as ACCUs, which
cost could substantially increase such that it is uneconomic for the
Group to buy them.
1
Gross Operating Revenue (GOR) comprises revenue less cost of sales.
2
One ACCU represents one tonne of carbon dioxide equivalent (tCO
2
-e) that would have otherwise been released into the atmosphere under the Australian Government’s
Australian Carbon Credit Unit (ACCU) Scheme.
1. Introduction

4
EBOS Climate-related Disclosure for FY25
Leased sites: The Group has a mix of owned and leased sites.
Where large sites are leased and are capable of doing so, the Group
will work with the landlord on measures to limit carbon emissions
from the building. However, it is possible that landlords could refuse
or limit the Group’s requirements.
Increased GHG inventory: The Group has a well-established
strategy of investing for growth, including through acquisitions.
If and when businesses are acquired, these will be included in our
greenhouse gas (GHG) inventory (the timing of including acquired
businesses is more fully described in section 5.1). There is no
guarantee that the Group will be able to meet any future targets
related to GHG emissions where there is a material increase in
the Group’s GHG inventory as a result of acquisitions. In addition,
an increase in the Group’s GHG inventory could lead to such
a significant corresponding increase in the amount of offsets
acquired by the Group or in costs related to measures to limit GHG
emissions that the Group needs to revise GHG strategies or targets.
Regulatory, policy and market practice risks: There have been and
continue to be frequent changes in climate-related policies, laws and
market practice in the markets in which the Group operates. The
dynamic regulatory environment and developing market practice
could create uncertainty and complicate long-term planning – for
example, changes in expectations or requirements regarding the use
of offsets could risk the Group’s ability to meet its current and future
targets. The implementation of stricter emission reduction targets
or sustainability standards may necessitate significant operational
changes and investment. The financial burden of complying with
new regulations, including reporting and mitigation requirements,
could result in increased costs for the Group.
Operational risks: In order to achieve its targets, the Group will need
to invest in projects such as solar arrays. There may be unforeseen
additional direct and indirect costs associated with implementing
such projects, for example the cost of materials and labour, supply
shortages and latent conditions.
Technological advances and adoption of technology: The Group’s
targets (both present and potential future targets) and the Group’s
transition plan are dependent on the availability of technology that
is feasible on both a commercial and technical basis.
1.6 Adoption provisions
For this second mandatory report, EBOS has elected to apply the
following NZ CS 2 adoption provisions:
• Adoption provision 2: Anticipated financial impacts –
This provides an exemption from disclosing the anticipated
financial impact of climate-related risks and opportunities and
the time horizons over which the risks and opportunities are
expected to occur. We continue to build processes to assess and
quantify these impacts.
• Adoption provision 4: Scope 3 GHG emissions – This provides
an exemption from disclosing all of our Scope 3 GHG emissions.
We are continuing to build processes to establish our carbon
inventory.
• Adoption provision 6: Comparatives for metrics (paragraph
21 only) – This provides an exemption from the requirement to
disclose comparative information for the two preceding reporting
periods. As FY24 was our first year of reporting, we have applied
the provision to provide one year of comparative information for
each metric.
• Adoption provision 7: Analysis of trends – This provides an
exemption from disclosing analysis of the main trends from a
comparison of each metric from previous reporting periods to the
current reporting period.

5
EBOS Climate-related Disclosure for FY25
This section describes the role of the EBOS Board in overseeing
climate-related risks and opportunities, and the role of
management in assessing and managing those considerations.
2.1 Governance of climate-related risks and opportunities
In accordance with our Corporate Governance Code, the Board
has responsibility for approving, overseeing and monitoring the
Group’s response to and management of climate-related risks
and opportunities. It has established regular reporting to guide
and monitor implementation of EBOS’ ESG Program, including
assessment and management of climate-related impacts, in line
with other aspects of corporate strategy.
In FY25, the Board held six regular meetings. The ESG Update,
which includes consideration of climate-related impacts, was
included on the agenda at each of these meetings.
• The Board reviews the Group’s strategic risk profile from time
to time. This includes climate-related risks incorporated into
specific non-financial risks such as ‘supply chain disruption’ and
‘loss of critical operations’. The Board also approves the Group’s
risk appetite statements setting out the level of risk the Group is
willing to take in relation to specific risk categories.
• The Chief Executive Officer (CEO), or a member of the executive
leadership team, reports to the Board on the Group’s ESG Update,
including climate-related performance, at each regular Board
meeting. The CEO, with input from the ESG Steering Committee,
proposes GHG emissions metrics and targets for managing
climate-related risks and opportunities which are then presented
to the Board for review, input and approval. Progress towards
achievement of these metrics and targets is reviewed at least
annually.
• The Board reviews and approves the Group’s annual Climate
Statement, as well as the climate risks and the transition plan
incorporated within the Climate Statement.
• The Board approves the Group’s Carbon Reduction Plan (CRP)
which is reviewed periodically and monitors certain metrics
and targets.
• Whenever applicable, the Board intends to consider climate-
related impacts of all material investments, including mergers
and acquisitions and investments in infrastructure and physical
assets with technical or economic lifespans exceeding five years.
Board materials for these investments will include a statement
on relevant climate-related risks and opportunities. For assets,
Board materials will include the expected impact on Scope 1 and
2 emissions.
In addition to considering climate-related impacts of material
investments, the Board considers climate change impacts as
part of the Group’s broader responsibilities to the communities
we serve, as documented in our annual report. The annual report
is also reviewed and approved by the Board. Climate change
considerations fall within the Community and Environment pillar of
our ESG Program, together with other material topics.
Role of the Audit and Risk Committee
The Audit and Risk Committee (ARC) is a committee of the Board
and is made up of a subset of members of the Board. In accordance
with its Charter, the ARC assists the Board in exercising due care,
diligence and skill for identifying and monitoring material business
risks, including climate risks.
The ARC had three regular meetings in FY25. The CEO and Chief
Financial Officer (CFO) report to the ARC on strategic risks,
including climate-related risks as relevant, at every regular ARC
meeting. Through this reporting, the ARC monitors the Group’s
strategic risk profile and the implementation of risk appetite levels,
which it reports back to the Board.
The ARC also reviews, and recommends for approval, the Group’s
annual Climate Statement.
2.2 Board training and competence
The Board undertakes appropriate training as set out in the
Corporate Governance Code. Formal training on climate risk
(approximately every two years) supports Board members to keep
up to date about the evolving climate-related risk and opportunity
landscape and the company’s obligations regarding climate risk
reporting. Additional ad-hoc training will be provided in response to
major new developments, as required.
The Board skills matrix reflects Board members’ experience in
developing and overseeing environmental and social responsibility
agendas, and specifically, programs related to climate risk.
2.3 Management of climate-related risks and opportunities
At a management level, the CEO and CFO report to the Board
and the ARC on how the Group’s material business risks are being
managed effectively and updates the risk rating of strategic risks
on an ongoing basis. This includes reporting on climate risk as
required. Management presents proposed changes to risks and risk
ratings to the Board, or the ARC, as required.
The CEO has delegated responsibilities for executive management
of the identification of the Group’s climate-related risks and
opportunities to the ESG Steering Committee, chaired by the
Executive General Manager Strategic Operations, ESG and
Innovation.
In accordance with its Charter, the ESG Steering Committee is
composed of executive leaders of the Group’s major business
functions with responsibility for the ESG Program (Figure 1). The
ESG Program comprises various sub-strategies focused on material
topics identified and refined through stakeholder engagement.
In FY25, the ESG Steering Committee met eight times to monitor
the implementation of the ESG Program, including climate-
related metrics, targets, risks and opportunities. It recommends
improvements for the ESG Program and related management
processes, as needed, to the CEO, ARC and Board. These are
the key formal mechanisms for management to be informed
about, make decisions on and monitor climate-related risks and
opportunities.
The ESG Steering Committee oversees the preparation of the
Group’s annual Climate Statement in compliance with relevant
legislation. The Climate Statement is reviewed by the Group CEO
and CFO prior to being presented to the ARC for review and Board
for approval.
2.4 Remuneration
While progress in relation to the Group’s ESG Program is factored
into the determination of the CEO short-term incentive outcome,
climate-related performance metrics are not currently specifically
incorporated into the Group’s executive remuneration policies or
approaches. We intend to consider from time to time if climate-
related targets should be included in executive remuneration with
due consideration of the materiality of identified risks and the
Group’s performance against plans and targets. There is no change
compared to the prior reporting period.
2. Governance

6
EBOS Climate-related Disclosure for FY25
Figure 1: Organisational Structure and ESG Steering Committee composition in FY25
Chief Risk
Officer
LifeHealthcare
General Manager
– Legal Risk &
Compliance
Head of
Communications and
Corporate Affairs
Executive General
Manager HR
Corporate
Communications
Manager
Head of Investor
Relations
Executive
General Manager,
Healthcare Logistics
Australia
Group CEO
ESG Steering Committee
(Chairperson – Executive General Manager,
Strategic Operations, ESG and Innovation)
Audit and Risk Committee
Board
General
Counsel
Chief Strategy
and Corporate
Development
Officer
Animal Care
Head of R&D &
Innovation

7
EBOS Climate-related Disclosure for FY25
This section describes current and anticipated impacts of
climate change referencing the Group’s climate scenario
analysis, identification of climate-related risks and opportunities,
and positioning with respect to a global and domestic transition
toward a low-emissions, climate-resilient future.
The content of this section reflects findings from a standalone
climate scenario analysis, which included a climate risk and
opportunities assessment.
3.1 Current impacts
Current climate-related impacts for the Group fall into two
categories:
• Physical impacts arise directly from climate system changes.
These can be further distinguished between event driven
exposures, which are referred to as acute risk, and longer-term
shifts in climate patterns, which are referred to as chronic risk.
In FY25 the Group experienced acute physical weather-related
events that could be attributed to climate change during the
reporting period; however, none had an impact we consider to be
material.
• Transitional impacts arise as regulators, customers, business
partners, local communities and the economy at large, adapt to
climate change by transitioning to a lower-carbon future. This
process is likely to involve changes in technology and the market
availability of products and services as well as new regulations
and evolving customer demands. The Group has not experienced
any material climate-related transition impacts in FY25.
When assessing materiality, we evaluate both quantitative and
qualitative factors. The quantitative threshold we use for current
impacts is aligned with the financial materiality principles
applicable to the preparation of our financial statements.
EBOS has not experienced climate-related physical or transition
impacts it considers material, or financially material, in the
reporting period.
3.2 Scenario analysis
The Group’s scenario analysis was conducted in FY23. For this
analysis, short-term was defined as 1-3 years to 2025, medium-
term as 3-10 years to 2050 and long-term as 10-30 years to 2050.
The analysis considered three scenarios based on Representative
Concentration Pathways (RCPs) and Shared Socioeconomic
Pathways (SSPs) sourced from the Intergovernmental Panel on
Climate Change (IPCC) Fifth Assessment Report (Table 1).
Our 1.5-degree Celsius scenario is based on RCP 2.6 and our
3-degree scenario on RCP 8.5. For our third scenario we have
chosen a 2-degree scenario based on RCP 4.5. We selected these
scenarios as they outline a broad range of possible and generally
well-documented futures over multiple horizons that encompass
the whole Group’s operations.
Overseen by the Board and managed by the ESG Steering
Committee, a scenario analysis was undertaken in consultation
with external advisors and a selection of internal management
stakeholders. The outcome of this stand-alone exercise was
reported to the ARC and was consistent with information provided
by our insurers.
A diagram of the program of work is depicted in Figure 3 –
Tools and Methods used for Scenario Analysis.
3. Strategy

8
EBOS Climate-related Disclosure for FY25
Physical climate scenarioRCP 2.6RCP 4.5RCP 8.5
Description
Considered the best case for
limiting climate change impacts,
this scenario requires a major
turn-around in climate policies
and concerted worldwide
actions to reduce GHG emissions
drastically. Global mean surface
temperature continues to rise
but is projected to stay below
two degree Celsius above pre-
industrial levels.
An intermediate scenario that
assumes a stabilisation of GHG
emissions by 2050 and declining
afterwards. Global mean surface
temperature continues to rise and
is projected to reach two degrees
Celsius above pre-industrial levels.
Representing a possible worst-
case scenario with a continued
rise in GHG emissions past 2050.
Global mean surface temperature
continues to rise and is projected
to exceed two degrees Celsius
above pre-industrial levels.
Socio-economic scenario
SSP1: Sustainability-focused
growth and equality.
SSP2: Trends broadly follow
historical patterns.
SSP5: Unconstrained growth in
economic output.
Low challenges for mitigation
(resource efficiency) and
adaptation (rapid development).
Intermediate challenges.High challenges for mitigation
(regionalised energy and land
policies) and adaptation
(slow development).
Global GHG trajectory
Net zero by 2050.Stabilisation by 2050, declining to
net zero thereafter.
Continued rise
Global temperature
outcomes
>1.5 °C with limited overshoot
(Paris Agreement goal achieved).
>2°C and <= 3°C>3 °C
Physical impacts
Supply chain and operational
disruptions from climate hazards.
More significant disruptions from
more extreme climate hazards.
More frequent and severe
impacts increasing over time.
Transition impacts
Trend towards localisation of
production and smooth adoption
of low-carbon technologies.
Most significant of all scenarios.
Delayed, rapid, disorderly, and
costly transition.
Mixed impacts. Rising demand
for healthcare. Supply chain and
market disruptions.
Political context
Strong mitigation and adaptation
policies. Compliance with
effective climate mandates.
Slow initial response followed
by disorderly implementation of
more severe climate mandates.
Focus on health, education, and
institutions. Uncoordinated and
reactive on climate adaptation.
Social context
Progressively aging population
(Australia and New Zealand) with
moderate growth and moderate
immigration.
Increasing social division. Aging
population with higher growth
driven by immigration.
Higher population growth driven
by immigration. Increasing
urbanisation and rising burden of
climate-related disease.
Technological context
Rapid development and uptake of
affordable green technologies.
Slower development of green
technologies at higher cost.
Productivity-enhancing fossil
fuel dependent technologies
maximising production.
Economic context
Creation of new green jobs.
Incentives for localisation. Good
access to finance for firms with
strong ESG credentials.
Rising trade protectionism.
Increasing cost of finance.
Economic instability.
Higher economic growth. Strong
investment in health, education,
and institutions.
Energy pathways
Increasing renewables, declining
reliance on coal and fossil fuels.
Historical patterns continue.Energy-intensive, increasingly
fossil fuel-based growth.
Nature-based solutions
Effective international
cooperation on land use,
including deforestation and
agriculture.
Limited efforts on deforestation
and agriculture.
Continued deforestation.
Negative emissions
technologies
Some reliance on negative
emissions e.g. bioenergy with
carbon capture and storage.
Low reliance on negative
emissions.
Not applicable.
Table 1: Overview of climate scenarios

9
EBOS Climate-related Disclosure for FY25
As our strategy continues to develop, we are evaluating climate
hazards under each scenario impacting the Group’s operations
across Australia and New Zealand (Table 2) using historical data
and forward-looking projections from local data sources (e.g.
NIWA for New Zealand and Bureau of Meteorology and CSIRO for
Australia). Where such data is not readily available, we refer to
reputable sources such as the World Resources Institute (WRI) and
peer-reviewed scientific journals.
Additionally, we have cross-referenced our scenario analysis with
the Climate Change Impact Reports from one of our insurers.
We did not undertake any modelling.
The below table shows projected climate hazards arising from all climate scenarios assessed in the scenario analysis to date.
Australia New Zealand
Heatwaves
More extreme heat events
Greater frequency of very hot days in summer
Not identified
Temperature
Rising mean temperature - particularly New South
Wales (NSW)
More extremely hot days
Fewer extremely cool days
Extreme heat may trigger bushfires
More hot days
Bushfires
More days with extreme fire danger –
specifically NSW, Western Australia (WA)
Not identified
Drought
Declining rainfall, especially in the cool season –
specifically WA, Victoria (VIC), South Australia (SA),
Queensland (QLD) and Tasmania (TAS)
Increasing duration of droughts
Increasing frequency and duration of extreme
droughts
Not identified
Precipitation
Increasing frequency and intensity of extreme
rainfall events – specifically QLD, VIC
Increase in rainfall intensity – particularly Auckland
Wind
Increasing wind speeds associated with tropical
cyclones, winter storms, thunderstorms and
tornados – specifically TAS, VIC, WA, NSW
Not identified
Sea-level rise
Increasing risk of coastal flood – specifically QLD,
SA, VIC
Increased risk of coastal flood – particularly
Wellington
Table 2: Overview of projected climate hazards
3.3 Climate-related risks and opportunities
3.3.1 Risks
Table 3 contains the identified headline climate-related risks for the
Group with an indication of ‘Exposure to threat’ and ‘Value chain
vulnerability’.
The Group’s business and distribution network is characterised by
low-to-moderate climate-related vulnerability. Notwithstanding
this, we continue to systemically evaluate operational risks, such
as wildfire and flooding, including the disruption of such events
to transport and utility services, for all key existing properties,
relocations and new developments. These assessments ensure that
appropriate mitigation measures are in place, including insurance,
backup systems, critical communications and fire protection.
Management evaluated potential impacts of the risks over three
time horizons. These time horizons align with published information,
insurer assessments and internal strategic planning horizons:
• Short-term (3 years to 2029)
• Medium-term (2029 to 2030)
• Long-term (2031 to 2050)
EBOS undertakes an annual strategic business review for a 3-year
period which aligns with the short-term horizon. Medium and long-
term horizons particularly apply to capital projects that could have
an economic and technical life of up to 20 years (up to 50 years
for real estate). These horizons could also apply to property leases
that may have renewal options meaning that the total term of such
leases could be up to 25-30 years.
The identified risks are generic and have general application to all
business units in all geographies.

10
EBOS Climate-related Disclosure for FY25
CategoryHeadline riskRisk assessmentTime horizonMateriality
Exposure
1
Vulnerability
2
ShortMedium Long
1Physical
(Acute)
Damage to EBOS assets/stock
from extreme weather events
FY24:
Moderate
FY25: High
3
Moderate
✔✔✔
Assessment
in progress
2Physical
(Acute)
Disruption to supply chain from
extreme weather events
FY24:
Moderate
FY25: High
4
Low
✔✔✔
Assessment
in progress
3Physical
(Acute)
Increasing resilience needs for
existing and new sites
FY24: Low
FY25: Low
Low
✔✔✔
Assessment
in progress
4Transition
(Market)
Increased cost and reduced
access to insurance
FY24: High
FY25: High
Moderate
✔✔
Assessment
in progress
5Transition
(Legal)
Increased public sector
requirements to compete
FY24: High
FY25: Low
5
Moderate
✔✔
Not
quantifiable
6Transition
(Social)
Reputational risk associated
with ‘greenwashing’
FY24:
Moderate
FY25: High
6
Low
✔✔
Not
quantifiable
Table 3: Climate-related risks
Table notes
1. Exposure to threat (% of EBOS value chain exposed): Low 0-25%; Moderate 25-50%; High 50-100%.
2. Value chain vulnerability (likelihood of value chain being adversely affected): Low – Low likelihood; Moderate – Moderately likely; High – High likelihood. Unless indicated
otherwise, vulnerability is unchanged from FY24.
3. The FY25 exposure is aligned with Climate Risk Exposures as per Table 5.
4. The FY25 exposure is adjusted to reflect that supply chains are complex, interrelated with poor transparency; notwithstanding that the diversified nature of the Group
provides options to limit impact, refer to section 3.4.2.
5. The FY25 exposure is adjusted and now based on the relative contribution of the public sector Gross Operating Revenue (GOR) to total GOR, refer to section 3.4.3.
6. The FY25 risk assessment exposure for this risk increased from FY24.

11
EBOS Climate-related Disclosure for FY25
Materiality Assessment
The scenario analysis conducted in FY23 identified sixteen risks
which we referred to in our FY24 Climate Statement.
During FY25, we undertook further work to assess the materiality
of the risks identified. Assessed risks were documented with
appropriate impact and quantification methods, then reviewed and
assessed during a workshop with relevant business representatives.
The workshops were facilitated by an independent external risk
expert.
As set out above, EBOS is relying on Adoption Provision 2 of
NZCS 2 for its FY25 Climate Statement, meaning it is exempt from
disclosing the anticipated financial impact of climate-related
risks and opportunities and the time horizons over which the
risks and opportunities are expected to occur. EBOS continues to
build processes to assess and quantify these impacts as part of
assessing the materiality of the identified risks.
Our initial focus for this work in FY25 was on determining
whether the reasonably anticipated impact would be material.
Our approach to assessing materiality is to consider whether
the reasonably anticipated impact, or the way in which that
information is presented, could influence the decisions of primary
users of our Climate Statement. Our approach to materiality
is broadly consistent with the financial materiality principles
applicable to the preparation of our financial statements,
which includes a quantitative and qualitative assessment.
Assessment of Complex Risks ongoing
As shown in Table 3, we are continuing to assess the impact of four
more complex risks, including if the impact is likely to be material,
and have engaged a sector specialist for property and insurance
related risks. For supply chain related risks, we continue to assess
supplier concentration risks.
Unquantifiable Risks
The anticipated impacts of two of our transition risks, listed in
Table 3 cannot currently be quantified with sufficient certainty.
We set out further comments on these risks in Table 4. The listed
items comprise additional considerations within existing risks
categories, such as reputational and regulatory risks, and the risk
of product or service obsolescence. The Group has established
processes in place to manage these risks, including disciplines to
ensure that our products and services remain current. Examples
include legal reviews to manage reputational risks and ensure
legal compliance, and reviews of success rates in securing new
contracts, including public sector contracts. These additional risks
considerations are managed as part of the Group’s ordinary risk
management processes.
When considering the materiality of identified risks, we can
reasonably assess and manage the impact of current and
foreseeable exposures, but unspecified and speculative future
exposures cannot be quantified, especially when these are outside
our strategic planning horizon. While policies, procedures and
disciplines will evolve, the Group does not currently require a
separate transition or adaptation strategy specifically for these
climate-related risks.
Transition RiskRisk description and anticipated impactComments
Increased public
sector requirements
to compete
Increased Government focus on
sustainability and reducing carbon
emissions, could lead to the introduction
of sustainability criteria required to
take part in Government tenders,
resulting in cost increases to comply and
increased resource constraints to meet
requirements.
Based on published materials, we believe the Group is well positioned
to accommodate public sector requirements should they arise, and do
not anticipate a material impact.
However, we are unable to assess the likelihood of additional policy
developments, the nature of them, and the importance put on them in
the vendor selection process relative to other considerations, including
commercial ones.
For example, Symbion distributes medicines around Australia in
return for access to a pool of government funding that subsidises the
distribution of pharmaceuticals to rural and remote parts of Australia.
While not currently anticipated, the introduction of climate-related
obligations could result in restricted or no access to that funding or
increased costs to comply with such obligations.
Managing public sector requirements, including climate-related
requirements, is an existing discipline and is not subject to a separate
transition or adaptation plan.
Reputational risk
associated with
‘greenwashing’
Unsubstantiated sustainability claims
or changing sustainability expectations
from the market or customers /
consumers, could lead to accusations
of greenwashing relating to EBOS and
the products it distributes, resulting in
reputation damage with customers and
consumers, constrained access to debt/
capital markets and increased legal
exposure.
The regulatory landscape remains dynamic with changes in climate-
related policies, laws, stakeholders and market practice in the markets
in which the Group operates. There is also uncertainty associated with
potential litigation and a lack of relevant benchmarks for potential
fines related to climate change-related matters such as greenwashing.
The Group has in place policies and procedures to ensure compliance
with laws and regulations, including the review of claims and
disclosures regarding matters such as climate-related risks. While
these policies and procedures will evolve, the Group does not currently
consider a separate transition or adaptation strategy is required
specifically for these climate-related risks.
Table 4: Unquantifiable transition risks

12
EBOS Climate-related Disclosure for FY25
3.3.2 Opportunities
The scenario analysis conducted in FY23 identified eleven potential
opportunities which we referred to in our FY24 Climate Statement.
In FY25, we undertook further work regarding these opportunities,
including seeking input from the management teams under a
process conducted by the ESG Steering Committee. Using the same
materiality threshold for risks (as above), none of the opportunities
were considered currently material.
EBOS may stand to benefit from climate-related transition
opportunities associated with the timely and cost-effective
transition to a low-carbon future, however, we do not consider any
EBOS business activities to be uniquely aligned with future climate-
related opportunities. Notwithstanding this, we continue to monitor
potential climate-related opportunities that may arise as part of
our ‘business as usual’ disciplines and in the context of our ESG
Program.
3.4 Anticipated impacts
3.4.1 Physical climate-related risks to assets
In relation to acute physical climate-related risks to our assets,
we use the Climate Resilience Tracker issued by our insurer for key
facilities to identify locations most impacted by climate change.
The Climate Resilience Tracker combines ‘engineering data
from site visits with the latest insights into climate change’ and
‘evaluates climate change impacts on perils using three climate
change scenarios (RCP 2.6 RCP 4.5 and RCP 8.5) and global climate
model projections for two future periods: short-term (2021-2040),
and long-term (2041-2060)’. Table 5 provides a summary of the June
2025 report covering 35 key facilities. Key facilities are defined as
facilities visited and audited by the insurer in the past five years.
The insured value of these key facilities represents 95% of the total
insured value of our portfolio
3
. All facilities owned or leased are
insured.
The Climate Resilience Tracker has replaced the Climate Change
Impact Report used in our FY24 Climate Statement. The new format
focusses on event-driven climate risks (Flood, Hail, Wildfire and
Wind) instead of acute climate risk exposures, such as ‘Extreme
precipitation’ and ‘Wind’.
For the chronic risk ‘Sea level rise’, we have used the same definition
as the prior period and there are four facilities that are exposed.
These are all leased and none of them are owned by EBOS. One of
the four exposed sites is exposed to both flood and sea level rise
with the remaining three not having reported flood exposures.
Exposures are location based. For example, sites in New South
Wales are more exposed to hail and sites in Queensland are more
exposed to wind. Flood and wildfire exposure is mostly related to
local factors and sea level rise exposure to proximity to coasts and
elevation. One site can have more than one exposure.
The variance between the current and previous reporting period
relates to changes in the way third-party information is presented
and how the risks are assessed by the third party, as well as
portfolio and key facilities changes.
3
The sum of coverage for property value and business interruption.
Prior Reporting Period (FY24)Current Reporting Period (FY25)
Climate risk# of sitesExposed value
4
# of sitesExposed value
4
Acute risks
Flood
1
58.0%815.3%
HailNot reported535.4%
WildfireNot reported420.3%
Wind
2
28.2%39.5%
Chronic risks
Sea level rise
3
412.2%412.6%
Total (unique facilities
5
)Not reported1767.3%
Number of key facilities 33 key facilities35 key facilities
Table 5: Current physical climate risk exposure to EBOS sites
Table notes
1. In FY24 this was reported as exposure to extreme precipitation.
2. In FY24 this was reported as exposure to wind.
3. Locations situated in coastal flood zones defined as a region with less than 10m terrain elevation above mean sea level and within 60 miles of nearest coastline.
4. Exposed value is the proportion of the Total Insured Value (property value and business interruption value) of the included key facilities considered exposed.
5. A single site can be exposed to more than one risk and the number of unique sites is less than total of exposures by site.

13
EBOS Climate-related Disclosure for FY25
3.4.2 Impact of supply chain disruption
Supply chain disruptions have occurred, and will continue to occur,
for many reasons, including geopolitical events. However, these
typically do not have an impact we would consider material.
EBOS is a diversified business distributing a wide range of
products from many suppliers which reduces the risk of supply
chain disruptions, provided alternatives can be sourced. Climate-
related disruptions are anticipated to be mostly localised and
of relative short duration, and, if that is the case, we do not
anticipate these disruptions to have a lasting or financially material
impact. However, significant damage to physical infrastructure,
including manufacturing capacity, could be long-term, with the
impact difficult to assess or quantify accurately. We are currently
reviewing, where practical, which climate-related events could have
an impact.
3.4.3 Transition risks
The exposure of two of our identified climate risks, being ‘Increased
public sector requirements to compete’ and ‘Evolving regulatory
and customer/consumer expectations’ for specific business
segments, is considered low on the basis that each contribute
less than 25% of total GOR. Ensuring compliance is an existing
discipline, as is making sure that our services and products are
current, meeting customer and consumer needs and expectations.
All business activities of the Group are exposed to ‘Reputational
risk associated with ‘greenwashing’’, however managing additional
legal compliance and reputation risk, to manage this risk, is not
considered material.
More broadly, input costs, including costs associated with capacity
constraints, are vulnerable to climate-related cost inflation,
should this occur. For the wholesale and distribution businesses
(95% of Group revenue and 85% of GOR), freight costs are the
largest operating expense after labour and particularly relevant.
However, these potential inflationary increases are currently
not anticipated to be material for EBOS, given that any climate-
related cost inflation is expected to be industry-wide, to impact all
market participants similarly and unlikely to create a competitive
advantage or disadvantage for any individual operator.
3.5 Transition planning
EBOS is a diversified Australasian marketer, wholesaler and
distributor of healthcare, medical and pharmaceutical products
and a leading marketer and distributor of recognised animal care
brands. Our core business offering is to aggregate and supply
healthcare and animal care products.
The Group’s GOR is derived predominantly (85%) from providing
wholesale, distribution and contract logistics services as well
as franchisor income. We value our relationship with suppliers,
however, the Group’s strategic reliance on specific products, and
therefore, specific suppliers, is limited. Products can often be
substituted, and we are often guided or required by others, such as
regulators and customers, on what products we need to range and
supply. We compete on service aspects such as delivery in-full and
on-time and supplying a broad range of products. Many products
are subject to a regulated price, so price negotiations are limited.
We receive a distribution fee, a service fee or a markup on a list
price in compensation for services provided.
The Group’s remaining GOR (15%) is derived from EBOS-own brand
products we create, including pet food and treats, toothpaste,
medicines, over-the-counter (OTC) products, medical consumables,
medication aids and software solutions. These products are
developed, processed or manufactured by the Group, or sourced
under licence or contract manufactured.
Figure 2: Split of Gross Operating Revenue between key
business activities
252
1,385
GOR derived from providing predominantly wholesale,
distribution and contract logistics services, and franchisor
income.
GOR derived from products we create carrying EBOS-own
brand, including pet food and treats, toothpaste, medicines,
over-the-counter (OTC) products, medical consumables,
medication aids and software solutions.
FY25 Gross Operating Revenue (GOR) $ millions

EBOS Climate-related Disclosure for FY25
14
The fitness of our distribution network will continue to be a key
focal point for the Group’s corporate strategy. We must ensure our
plans to reduce GHG emissions meet the reasonable expectations
of our stakeholders, including employees, customers, suppliers and
governments.
In relation to reducing our Scope 1 and Scope 2 GHG emissions, we
are developing and implementing our carbon reduction plan in line
with the following principles:
• Prioritising actions based on materiality and influence of control;
• Reducing emissions through energy efficiency improvements;
• Generating onsite renewable electricity;
• Switching to electrification to replace fossil fuels in certain
stationary and transport applications, where technically and
commercially feasible; and
• Acquiring offsets to balance residual Scopes 1 and 2 GHG
emissions.
In future we will look at options to reduce third party transport
emissions. Presently, EBOS is exploring an initial internal pilot to
reduce vehicle emissions.
Capital has been allocated to the solar array and reforestation
initiatives (Table 6, initiatives 2 and 5). This is key to reducing our
reliance on procured offsets for Scopes 1 GHG emissions and our
Scope 2 GHG emissions reduction targets in the future. Capital for
other initiatives, including investments in climate resilience, will be
allocated using established approval processes evaluating costs
versus benefits.
Where GHG reduction benefits need to be quantified, we intend to
use an internal carbon price. For example, replacing equipment at
the end of its technical or economic life with a less GHG emissions
intensive alternative (see e.g. Table 6, initiative 3) could require
an additional capital outlay. This additional capital cost will be
evaluated against the benefit of reduced GHG emissions at the
internal carbon price.
When evaluating sustainability-related investment decisions,
we use an internal carbon price set at AU$40 per tonne for the
reporting period. This is unchanged from FY24. This carbon price
is also used as a proxy for economic value when quantifying the
financial impacts of climate-related risks.
We do not consider capital currently deployed, allocated or planned
to reduce climate-related risks or GHG emissions to be material.
This is unchanged from FY24.
Specific key initiatives are listed in Table 6. These range from
initiatives specifically linked to climate-related risks to those with a
broader focus such as reducing GHG emissions and alignment with
anticipated stakeholder expectations and regulatory requirements.

15
EBOS Climate-related Disclosure for FY25
Table 6: EBOS’ transition plan progress to date
Reduce reliance on fossil fuels
IDInitiativeSector/ EBOS businessDescription and status
1Performance
efficiencies –
drive down energy
use KPIs
Manufacturing/
wholesaling/ distribution
We set a target for our distribution facilities to reduce our grid-supplied
electricity per square metre (sqm) of floor space (GLA – Gross Leasable Area)
by 15% against a FY21 baseline. For FY25 we achieved a 12.3% grid-purchased
electricity efficiency improvement per sqm against the FY21 baseline and
therefore did not meet our target in FY25. The electricity consumption per GLA
improved from 76.9 kWh/sqm for FY24 to 75.4 kWh/sqm for FY25, a pleasing 2%
reduction from FY24.
The improvements were primarily from opening new, more efficient, facilities
and closing less energy-efficient facilities and we expect the result to
progressively improve as new facilities become operational. Only facilities that
were operational for the whole reporting period were included in the measure,
meaning the impact is not immediately visible in the reported metrics. On a
like-for-like basis, e.g. excluding new acquisitions, we will aim to achieve the
15% target in FY27.
In FY25 we completed a revised Energy Reduction Plan aimed at further
decreasing our grid-supplied electricity consumption. This Plan focuses
on sites with the highest energy use or intensity, such as usage per square
metre or unit output. Identified opportunities include increasing onsite solar
electricity generation, optimising HVAC and refrigeration equipment, and
enhancing the efficiency of machinery and automation system.
2Alternative energy
sources –
renewables
Manufacturing/
wholesaling/ distribution
We are looking to change the way we procure and use electricity in Australia
by self-generating solar power. We are investing in a large solar array to
generate the equivalent of our Australian energy consumption at our Parkes
pet food manufacturing facility in NSW. In FY24 we completed a 500kW roof-
mounted solar array and no further capacity was added during the current
reporting period. However, we have shortlisted a supplier to progress with
the installation of a 5MW ground-mounted solar array. During the current
reporting period, we also updated our forecast for our Australian electricity
consumption and aligned generation capacity with this reduced consumption
forecast, after also incorporating distribution model changes and anticipated
performance efficiencies. The next and final 5MW ground-mounted solar
array is expected to be completed during FY27.
Since FY24, the Group has acquired New Zealand Renewable Energy
Certificates (RECs)
4
for each year which match the amount of electricity
consumed at EBOS’ facilities in New Zealand.
We procure ‘Greenpower’
5
accredited renewable electricity in relation to the
electricity consumed at three of our facilities in Australia.
3Fuel switch –
fossil fuels to
electrification and
biofuel
Manufacturing/
wholesaling/ distribution
We are planning to transition away from using fossil fuels at our
manufacturing and distribution facilities by progressively replacing existing
fossil fuel powered equipment with low/zero GHG emission equipment
(e.g. run on electricity or biofuels), where it is available and technically and
commercially viable, taking into account the useful life of existing assets.
Our largest Scope 1 GHG emissions source is manufacturing equipment,
which is not at the end of its useful life (which remains the same as FY24).
However, we largely completed the transition to electric Materials Handling
Equipment (MHE), phasing out a small number of forklift trucks fitted
with combustion engines during FY25. A small number of MHE remain to
be converted – these are located at sites that were part of acquisitions
undertaken in recent years.
4
EBOS’ RECs were procured from Meridian Energy Limited – www.meridian.co.nz and Lodestone – www.lodestoneenergy.co.nz
5
Greenpower is an Australian government accredited renewable energy product offered by most electricity retailers to households and businesses in Australia.
For more information see https://www.greenpower.gov.au/

16
EBOS Climate-related Disclosure for FY25
Table 6: EBOS’ transition plan progress to date
Reduce reliance on fossil fuels
IDInitiativeSector/ EBOS businessDescription and status
4Fuel switch –
zero or low emission
vehicles
Wholesaling/ distributionWe are assessing and intend to pursue commercially viable options to support
selected service providers in their transition to lower emissions vans and
small trucks, including electric alternatives. This initiative is dependent on
third-party service providers choosing to replace their vehicles. Our phased
and gradual approach recognises that assets have their economic and
technical life cycles. The conversion to low or zero-emission freight vehicles
on a meaningful scale is not yet considered to be commercially or technically
feasible and, while supplier engagement continues, there is no substantial
change compared to FY24.
Carbon removals and offsets
5ReforestationManufacturing/
wholesaling/ distribution
In FY25, EBOS made progress towards establishing our own reforestation
project that will be implemented and managed by Greenfleet. We purchased
a property in South Gippsland, Victoria with a potential planting area of
approximately 94 hectares. Track works commenced in March 2025 to
facilitate access to the property. We are now working on boundary fencing
and weed management with a view to starting new planting of native tree
species in early FY26.
6GreenfleetManufacturing/
wholesaling/ distribution
EBOS continues to enjoy a longstanding partnership with not-for-profit
environmental organisation, Greenfleet. Since 2007, we have offset a significant
share of outbound transport emissions from our operations by donating
over $2.4 million in support of Greenfleet’s important work to revegetate
native landscapes and restore biodiverse habitats. From our FY25 donations,
Greenfleet will plant trees that are expected to sequester 20,088 tCO
2
e during
their lifecycle, which is an increase of 10% on the prior reporting period.
7Offset –
acquiring and retiring
carbon credits
Manufacturing/
wholesaling/ distribution
For FY23, FY24 and FY25 we acquired and retired 2,984, 3,530 and 3,343
ACCUs respectively, offsetting all reported Scope 1 emissions. The acquired
offsets for FY25 represent a 5% decrease compared to the prior reporting
period. Refer to note 1 Table 9 (Targets) for further information regarding the
purchase of ACCUs.
Where available, we plan to use renewable energy certificates to reduce
reported market-based Scope 2 GHG emissions. We plan to use credible
carbon credits to offset all reported residual Scope 1 emissions and market-
based Scope 2 GHG emissions. Refer to note 1 Table 9 (Targets) for further
information regarding the purchase of ACCUs.
Climate resilience
8Resilience of
our fulfilment
infrastructure
Manufacturing/
wholesaling/ distribution
We are undertaking a climate focussed risk review of a number of key facilities
across New Zealand and Australia to validate current, and gain new, risks
insights. The new insights may result in changes to our existing practices and
are also inputs to assessing the materiality of risks relating to asset damage
(Table 3 risk 1), climate-related resilience needs (Table 3, risk 3) and insurance
cover (Table 3, risk 4).
9Resilience of our
Supply Chain
Manufacturing/
wholesaling/ distribution
EBOS is a diversified business distributing a wide range of products from
many suppliers which means that often alternatives can be sourced in
case of supply chain disruptions. Furthermore, many of the products we
distribute are supporting public health meaning public and industry support
and corporation is available to restore supply chains. Supply delays from
short term physical events are unlikely to have a material impact, however
significant damage to physical infrastructure, including manufacturing
capacity, could be long-term and hard to assess or quantify accurately.
We intend to focus on assessing key supplier concentration risks for finished
products and input materials for manufacturing to understand the impact
from climate-related supply chain disruption.

17
EBOS Climate-related Disclosure for FY25
This section describes how climate-related risks are identified,
assessed and managed and how those processes are integrated
into our existing risk management processes.
4.1 Climate-related risk management processes
Climate-related risks are incorporated into the Group’s assessment
of strategic risks and proportionately prioritised compared to other
risks. We used the climate scenario analysis as the assessment
tool to assess the Group’s climate-related risks and opportunities
in FY23 (Figure 3). The scope of this assessment did not explicitly
exclude any part of the value chain.
To address the scale and diversity of our activities across
Healthcare and Animal Care, impacts for individual business
segments are consolidated up to a Group level.
The outcomes of this assessment were reported to the ARC and the
Board. We commenced assessing the materiality of identified risks
and opportunities during FY25 and aim to complete this in FY26,
as well as quantify the financial impact as required, unless the
impact is not material or unquantifiable. From FY26 onwards,
the ESG Steering Committee is committed under its Charter
to conducting an annual review of climate-related risks and
opportunities. It is anticipated that the Group will engage an external
provider to support the review approximately every three years.
As described below, climate-related risks are incorporated into
the Group’s assessment of strategic risks based on likelihood and
consequence.
4.2 Overall risk management processes
The Group’s Risk Management Policy outlines measures
implemented by the Group to ensure appropriate management of
material risks across the business. Risk management is defined as
the identification, assessment and treatment of risks that have the
potential to materially impact the Group’s operations, people and
reputation, financial prospects, environment and communities in
which we work. The Policy outlines the roles and responsibilities of
the Board, ARC and Management to achieve these objectives. In
assessing climate-related risks, we adopt the same time horizons
as for our scenario analysis, detailed in section 3.3 – Climate-
related risks and opportunities.
We assess the significance of material risks in the Group’s
strategic risk profile, which was last reviewed in August 2025,
using a likelihood and consequence matrix. Climate-related
impacts contribute to specific non-financial risk factors such
as ‘Supply chain disruption’ and ‘Loss of critical operations’.
Outcomes of the climate scenario analysis and insurance
assessments support are consistent with the Group’s strategic
risk profile. We continue to review our exposure to material
environmental and social risks as part of the risk management
framework and plan to incorporate new strategic risks such as
those identified through climate scenario analysis and insurance
assessments. Building resilience, including resilience to natural
hazards and climate-related events, is an existing practice within
the Group’s property function when selecting and constructing new
distribution and manufacturing facilities.
Section 3.5 – Transition Plan, covers our approach to capital
allocation.
Identify risksReview drivers
of change
Define scope
and boundary
Develop climate
scenarios
Impact
assessment
Key activities
Document reviewIdentify
opportunities
Identify and rank
drivers of change
Define
organisational
and operational
boundaries
Develop climate
scenarios
referencing RCPs
and drivers of
change
Understand risks
and opportunities
and their impacts
Outputs
List of risks and
opportunities
List key information
to include in climate
scenarios
Specify scope of the
scenario analysis
Develop bespoke
narratives to
contextualise
analysis
Impact pathways
with qualitative
financial impacts
Areas of focus
Physical risks
Transition risks
Social
Technological
Economic
Environmental
Political
Global markets
Services and assets
Sites
Activities
RCP 2.6
RCP 4.5
RCP 8.5
Business impacts
– operations,
investments
Financial impacts –
CAPEX, OPEX, ROCE
Figure 3: Tools and methods used for scenario-based analysis
4. Risk Management

18
EBOS Climate-related Disclosure for FY25
This section describes how the Group measures and manages
climate-related risks and opportunities, including metrics and targets.
5.1 GHG emissions
We apply the operational control approach for consolidating GHG
emissions. In line with the GHG Protocol, Corporate Standard,
we include all business units within the Group over which we
have operational control, business units that are appropriately
embedded in our ongoing operations and ones that have a carbon
footprint we consider material
6
. Business units that EBOS wholly or
partially owns are disclosed in our annual reports.
For FY25 we have included all subsidiaries listed in our FY24 Annual
Report, therefore excluding acquisitions that occurred during FY25.
Also excluded are entities listed as investments in associates over
which we do not have full management control such as Animates
NZ Holdings Limited. We do not include TWC and HPS pharmacies
as we do not have operational control, but head office functions are
included.
Gross Scope 1 and 2 GHG emissions are reported in Table 7 in
accordance with the GHG Protocol, Corporate Standard. We also
report net GHG emissions, meaning emissions after acquired offsets,
carbon removals and renewable energy certificates, for further
context and relevance in relation to targets. When reporting net GHG
emissions, we report market-based Scope 2 emissions figures.
There was no material movement between the reported GHG
emission compared to FY24. Grid purchased electricity increased
by approximately 3% compared to FY24, offset by more favourable
location-based emission factors.
Table 7: GHG emissions
ItemMetricsUnit of MeasureFY24 Data*FY25 Data*Notes
1Scope 1 GHG emissionstCO
2
e3,5303,3431,2,3,7
2Scope 1 offsets (ACCUs)tCO
2
e(3,530)(3,343)4
3Net Scope 1 GHG emissionstCO
2
e00
4Scope 2 (location-based) GHG emissionstCO
2
e18,28918,2571,5,7
5Scope 2 (market-based) GHG emissionstCO
2
e16,354**15,3111,6,7
6Net Scope 1 and Scope 2 (market-based) GHG emissionstCO
2
e16,354***15,311
7Gross Scope 1 and Scope 2 (location-based) GHG emissions
intensity ratio (GHG emissions per Gross Leasable Area (GLA)
of distribution facilities at end of reporting period)
tCO
2
e/sqm GLA0.0324****0.03208
8Net Scope 1 and Scope 2 (market-based) GHG emissions intensity
ratio for GHG emissions per million dollar GOR
tCO
2
e/$ million GOR10.0**9.49
*GHG emissions (tCO2e) rounded to the nearest decimal place.
** Previous reported GHG emissions were location-based but are now restated to reflect net market-based Scope 2 emissions intensity.
*** Not previously disclosed and not subjected to independent limited assurance
**** Restated due to correction in calculation parameters. Reported value in prior report was 0.0394.
Table notes
1. 125 facilities are reported in FY25 including commissioned and decommissioned facilities but not including 23 facilities obtained during the reporting period through acquisitions.
The number of facilities as at 30 June 2025 was 133, of which we deem 92 (88.4% of GLA) distribution facilities, 8 (8.4% of GLA) manufacturing facilities, and 33 offices (3.2 % of GLA).
2. Scope 1 emissions include fugitive gases and direct emissions from consumption of gas for domestic and industrial use and material handling equipment, fuel for
generators, water pumps and fire hydrants. The emission factors are based on the Australian National Greenhouse Accounts, New Zealand Ministry for the Environment
2025. Refrigerant leakage rates are sourced from Climate Active.
3. Global Warming Potentials (GWP) values are from the IPCC Fifth Assessment Report (AR5) and the IPCC Fourth Assessment Report (AR4).
4. EBOS acquired and retired 3,530 Australian ACCUs to offset Scope 1 emissions in FY24 and 3,343 ACCUs in FY25. Refer to note 1 for Table 9 (Targets).
5. Represents gross, location-based Scope 2 emissions. Emission factors for New Zealand are sourced from the Ministry of Environment (2025). For Australia, emission factors
are sourced from the Australian National Greenhouse Accounts Factors (2024) and for ASEAN and HK, factors from the International Energy Agency (2024). The decrease in
emissions from electricity are due to updated emission factors and increased solar generation within the distribution network.
6. Represents net, market-based Scope 2 emissions. Emission factors for New Zealand are sourced from BraveTrace (https://bravetrace.co.nz/). For Australia, factors are
sourced from the Australian National Greenhouse Accounts Factors (2024). For ASEAN and HK, the factors from the International Energy Agency (2024) were used as
market-based factors were unavailable at time of reporting. In FY25 RECs matching the amount of electricity consumed by New Zealand sites (10.02GWh) was purchased,
and Greenpower (1.17GWh) for three locations in Australia.
7. Electricity and natural gas data have been calculated using electricity metering and billing data. Data gaps have been estimated. Estimated electricity is ~4.8%.
Estimated natural gas is ~0.1%.
8. Emissions intensity calculation based on Items 1 and 4 in Table 7. Only distribution facilities operational for the entire reporting year are included in the calculation to
simplify like-for-like reporting and 82 distribution facilities were included in this metric for FY25 (8 distribution facilities were commissioned during the year, but were not
operational for the entire reporting year, and so are not included). GLA or ‘Gross Leasable Area’ refers to the size of a facility in square metres.
9. GOR or Gross Operating Revenue has the same meaning as given to it in our FY25 Annual Report. In FY24 Net Scope 1 and Scope 2 location-based GHG emissions were
reported and for FY25, this has been changed to Net Scope 1 and Net Scope 2 market-based GHG emissions, to reflect the transition to renewable energy.
6
Each reporting period we will assess our organisational boundaries, and we may exclude business units not wholly owned by EBOS (insufficient operational control), business
units with less than 10 employees (FTEs), or with an immaterial carbon footprint, or recent acquisitions, defined as acquisitions made within 18 months of the commencement
of the reporting period (not sufficiently embedded).
5. Metric and Targets

19
EBOS Climate-related Disclosure for FY25
5.2 Assurance of GHG emissions
The Group’s Scope 1 and Scope 2 GHG emissions are subject
to independent limited assurance by Bureau Veritas. Scope 3
emissions are not disclosed.
5.3 Other metrics
Information on other climate-related metrics is disclosed in Table 8
and detailed in other sections of this statement. We do not currently
monitor industry-based metrics or other KPIs to measure and
manage climate-related risks and opportunities.
Table 8: Other metrics
MetricsLocation of disclosure
Assets or business activities vulnerable to transition risks See Section 3.3.1 Climate-related risks, Table 3
As shown at Table 3, between 50 – 100% of our business activities,
represented by our value chain, are exposed to two key transition risks,
being increased cost/reduced access to insurance, and increased
greenwashing risk.
Between 0 – 25% of our supply chain are exposed to increased public
sector requirements to compete.
Assets or business activities vulnerable to physical risks See Section 3.3.1 Climate-related risks, Table 3
Section 3.4.1: Current Physical Climate Risk Exposure, Table 5
As shown at Table 3, 50 – 100% of our business activities, represented by
our value chain, are exposed to two key physical risks, being damage to
EBOS assets/stock from extreme weather events, and disruption to supply
chain from extreme weather events. Between 0 – 25% of our business
activities are exposed to the physical risk of the need for increasing
resilience for existing and new sites.
Assets, or business activities aligned with climate-related
opportunities
Section 3.3.2: Climate-related opportunities
Like in FY24, none of our assets or business activities are specifically
aligned with climate-related opportunities.
Capital expenditure, financing, or investment deployed
toward climate-related risks and opportunities
Transition planning – section 3.5
Internal emissions price
Management remuneration linked to climate-related risks
and opportunities
Remuneration – section 2.4
5.4 Targets
EBOS has established its GHG emissions metrics and targets to
steer progress in limiting global warming built on international
best-practices, including Australian Standard (AS) ISO 14064
series, International Standard ISO 14040 series, ISO 14065:2013 –
Greenhouse gases and The Greenhouse Gas (GHG) Protocol. In
our view, each of our targets outline the Group’s ambition to move
progressively toward zero reported Scope 1 and 2 GHG emissions
after the deduction of offsets. This opinion has not been informed
or endorsed by any specific methodologies provided by third
parties and our targets are not science-based and therefore not
specifically aligned with limiting global warming to 1.5 degrees
Celsius.
We are currently focussed on reducing building-related Scope 1
and Scope 2 GHG emissions by improving energy efficiency and
switching to renewable energy sources in our facilities in Australia.
Since purchased electricity in New Zealand has a lower emissions
factor than in Australia, all of our top 20 sites with the highest
Scope 2 GHG emissions are in Australia. These 20 sites represent
over 80% of total Scope 2 building emissions for the Group.

20
EBOS Climate-related Disclosure for FY25
Table 9: Targets
IDMetrics and targetsTarget typeTarget yearStatusNotes
1Zero reported Scope 1 GHG
emissions after offsets each
year (Gross Scope 1 GHG
emissions minus offsets)
Absolute
emissions
reduction
Ongoing since
FY23
Achieved.1
2Reduce grid-supplied
electricity to distribution
facilities in Australia and
New Zealand (collectively)
by 15% kWH per square
metre (GLA) against a FY21
baseline
Emissions
intensity
reduction
FY25Delayed. Grid supplied electricity further
reduced to 12.3% kWH per square metre in
FY25 compared to our FY21 baseline (which
is 82% of the 15% reduction target). Refer to
Table 6, Initiative 1 for a detailed description
of our progress and expected achievement
of our electricity target.
2, 5
3Generate renewable energy
to match the electricity
consumption of all
Australian sites
Absolute
emissions
reduction
FY27Construction underway. Refer to Table 6,
Initiative 2 for a description of our progress
towards investment in solar arrays.
3, 5
4Zero reported Scopes 1 and
2 GHG emissions (market-
based) after offsets
Absolute
emissions
reduction
FY27Not yet applicable: dependent on
achievement of Targets 2 and 3 above.
4, 5
Table notes
1. During FY23, 5,500 ACCUs were acquired and retired. A further 3,000 ACCUs were acquired and retired during FY24 and 2,000 during FY25. Of these ACCUs, 2,984 ACCUs
were applied against FY23 Scope 1 emissions, 3,530 against FY24 Scope 1 emissions and 3,343 against FY25 Scope 1 emissions. One ACCU represents one tonne of carbon
dioxide equivalent (tCO2-e) that would have otherwise been released into the atmosphere under the Australian Government’s Australian Carbon Credit Unit (ACCU)
Scheme. Under this scheme, eligible projects can earn ACCUs when they reduce or avoid emissions. Eligible projects must fulfil specific eligibility criteria and are subject to
ongoing monitoring, reporting and auditing requirements.
2. Reduction in electricity intensity per square metre (GLA) of distribution facilities. Electricity intensity is measured as kWH per square metre facility size. GLA means
Gross Leasable Area and is the key metric used for determining the facility size. The target is against an FY21 baseline of 86.0 kWh per sqm. Facilities commissioned and
decommissioned during the base year and the relevant reporting years are excluded from the measurement for consistency and simplicity.
3. We are planning to self-generate electricity equivalent to the electricity consumption of all our Australian sites at our pet food manufacturing facility in Parkes, NSW,
as well as other locations.
4. Our Zero reported Scope 1 and 2 emissions target is based on market-based reporting and subject to achieving targets 2 and 3. We will rely on procuring green energy,
such as Certified Renewable Energy in NZ and may rely on acquiring and retiring offsets, such as ACCUs for residual Scopes 1 and 2 emissions.
5. There are a number of factors that may impact our ability to meet the targets set out in this Climate Statement which are described in sections 1.4 (Principles of Reporting)
and 1.5 (Risks, including in relation to targets).
5.5 Scope 3 GHG emission Targets
We have relied on Adoption Provision 4 of NZCS 2 for FY25 and do not currently disclose our Scope 3 emissions. We are currently reviewing
and establishing our Scope 3 boundaries, particularly regarding emissions associated with the extended supply chain of our finished goods
for resale (wholesaled goods). Given EBOS’ business model, we have limited control and influence over the GHG emissions of these goods.
Table 6 (section 3.5 – Transition Plan) includes a strategy to work towards reducing our third-party freight emissions, which represent a
limited subset of our Scope 3 emissions. We have chosen not to establish a target for this initiative at this time.
Signed on behalf of EBOS Group Limited by
Elizabeth Coutts
Chair
30 September 2025
Stuart McLauchlan
Director
30 September 2025

EBOS Climate-related Disclosure for FY25