EU

Taxonomy
Report 2022
The EU Taxonomy is a transparency system for companies and investors. Once fully implemented,
it will provide market participants, investors, and companies with a common understanding of the
magnitude of green economic activities performed by businesses across Europe. Green economic
activities are activities, which make a sustainable contribution to the aims of the European Green
Deal and to reach EU’s climate and environmental targets for 2030.

A key element in Aibel’s strategy is to shift our business towards renewable and sustainable energy
segments. This is a result of our commitment to corporate responsibility and our strong ESG focus.

The EU Taxonomy report for 2022 has been prepared in accordance with regulation EU (2020/852)
and the supplementing delegated acts; ‘Climate Delegated Act’ (2021/2800) and ‘Disclosure
Delegated Act’ (2021/4987).

Aibel notes that the EU Taxonomy is still under development, hence the current Aibel reporting is
prepared according to the existing guidelines. The EU Taxonomy is not yet implemented in Norway,
but Aibel as a non-financial company voluntarily reports on three performance indicators: revenue,
capital expenditure (Capex) and operating expenses (Opex). The financial data is based on IFRS and
is linked to the 2022 group financials.

Of the activities currently eligible in the EU taxonomy, one activity currently applies to Aibel:

• Activity 4.9 - Transmission and distribution of electricity

Description of the activity: Construction and operation of transmission systems that transport the
electricity on the extra high-voltage and high voltage interconnected system.

Aibel engineers, constructs, and installs HVDC converter offshore substations designed to transform
and transfer power from offshore windfarms to the onshore grids. Aibel estimates current eligible
taxonomy related activities to include the company’s HVDC-offerings. Aibel estimates the Taxonomy
eligible portion of Revenue, Capex and Opex to represent 17%, 25% and 15% respectively.