February 25th, 2022 Sustainability-Linked Bond Framework Progress Report for calendar year 2021 Executive summary and comment by the Chief Sustainability Officer Reference is made to the Sustainability-Linked Bond Framework (“SLBF”) of Fiven ASA (“Fiven” or the “Company”) dated 9 June 2021. This report provides a status update on the Key Performance Indicators (“KPIs”) under the SLBF, including emissions of CO2 and SO2 per ton produced silicon carbide (“SiC”), and consumption of freshwater in the Company’s production process (measured as the total amount of water withdrawal in m3). This report should be read in conjunction with the CSR report included in the Company’s 2021 Annual Report (to be published on March 24th, 2022) for a complete update on the sustainability strategy and performance of Fiven ASA. 2021 has been a good year for Fiven and the Company has been able to maintain a clear focus on sustainability measures despite the pandemic. The reduction of the Company’s emissions to air and the reduction of the volume of water withdrawal is and will be one of the most important events for Fiven in the coming years. This means that the Company’s continued commitment to and follow-up on its Environmental Roadmap set up in 2020 will be essential to achieving its Sustainability Performance Targets (“SPTs”) and their respective trajectories as outlined in the SLBF. Fiven is pleased to report that its CO2 and SO2 per ton of SiC produced were below the SPT trajectory as of 31 December 2021. Tons CO2 (per tons of SiC) was at 2.59 versus a target of 2.68. Tons SO2 (per tons of SiC) was at 0.030 versus a target of 0.049. The volume of water withdrawal during 2021 was above the SPT trajectory with 1,255,030 m³ versus a target of 1,190,000 m³. The absolute value was negatively impacted by a higher production volume, a different production mix than expected, and the lower pluviometry in Brazil. However, the consumption of water per ton of production volume improved in the largest water-consuming plants, Arendal and in Barbacena, with a decrease of 7% and 10% respectively compared to 2020. Fiven is on track to meet its goal for 2025 for CO2 and SO2. As regards water withdrawal, the Company has in 2022 initiated projects across its different entities in order to align also this KPI with the SPTs by 2024. Sustainability Linked Bond Progress reporting Fiven Annual Report 2021 Sustainability Linked Bond Progress reporting 103
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