Phoenix Energy Responsible Business Report 2026

Material Topics Materiality in Environment, Social & Governance (‘ESG’), refers to the business importance, financial significance, and stakeholder value of a specific ESG topic. On a regular basis Phoenix reviews the relevance of individual ESG topics and assigns a materiality level for each topic: The process for assigning levels of materiality for each ESG topic includes Management’s internal assessment of materiality as well as incorporating the views of relevant stakeholders, including views from shareholders, suppliers and employees. The appropriateness of Phoenix’s assessment of material ESG topics is also cross checked against LQGHSHQGHQW H[WHUQDO (6* WRROV WDLORUHG IRU 3KRHQL[ɖV LQGXVWU\ RSHUDWLRQV DQG JHRJUDSKLFDO ORFDWLRQ H J (6* PDWHULDOLW\ DVVHVVPHQW WRRO ZLWKLQ WKH *5(6% *OREDO (6* %HQFKPDUNLQJ $VVHVVPHQW 7KURXJK WKHVH DVVHVVPHQWV DQG GLVFXVVLRQV ZH KDYH VWUHQJWKHQHG FOLPDWH UHODWHG LQWHOOLJHQFH DFURVV RXU OHDGHUVKLS RSHUDWLRQDO DQG WHFKQLFDO WHDPV GULYLQJ LQWHUQDO FKDQJH DQG HPEHGGLQJ FOLPDWH FRQVLGHUDWLRQV LQWR GHFLVLRQ PDNLQJ processes at all levels. This approach enhances our resilience and positions us as a responsible business, ready to tackle future challenges. No Relevance Low Medium High

3KRHQL[ DUH FRPPLWWHG WR FRQWULEXWLQJ WR WKH 8QLWHG 1DWLRQɖV 6XVWDLQDEOH 'HYHORSPHQW *RDOV ɕ6'*Vɖ We have aligned our ESG strategy with the UN SDGs, focusing on nine key goals where we believe we can achieve the most impact within our areas of control and influence. Sustainable Development Goals 3 GOOD HEALTH AND WELLBEING 5 7 GENDER EQUALITY AFFORDABLE AND CLEAN ENERGY

8 9 10 GOOD JOBS AND ECONOMIC GROWTH INNOVATION AND INFRASTRUCTURE

REDUCED INEQUALITIES

Material ESG topics1: Environment

Social

Governance

Audit Committee structure

Air pollution

Child labour

Low

Medium

No Relevance

Board composition

Biodiversity & habitat protection

Community development

Medium

Medium

Medium

Board oversight of sustainablity

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Customer satisfaction

Medium

High

Medium

Bribery prevention

Contamination

Employee engagement

Low

No Relevance

Medium

12 13 15 RESPONSIBLE CONSUMPTION AND PRODUCTION CLIMATE ACTION

Conflicts of Interest

Deforestation

Equality, Diversity & Inclusion

Low

No Relevance

High

Cybersecurity

Energy

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Medium

Medium

Low

LIFE ON LAND

Data protection & Privacy

Greenhouse gas emissions

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Medium

High

Low

Delegated Authority

Hazardous Substances

Health & safety: Employees

Low

Medium

High

Ethical business practices

Light pollution

Health & safety: Customers

Medium

No Relevance

High

Executive compensation

Noise pollution

Health & safety: Community

Low

Low

High

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Sourcing of materials

Health & safety: Contractors

Low

Medium

High

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Use of paper

Health & safety: Supply chain

Low

Medium

Low

Waste produced

Health & wellbeing: Employees

Medium

Medium

Medium

We monitor progress continuously, adapting to emerging challenges and opportunities through regular materiality assessments and stakeholder engagement. This approach embeds sustainability across all organisational levels, from leadership to operations, strengthening our resilience while creating shared value that extends beyond our business to support global sustainability goals and community needs.

Water pollution

Local Employment

Low

Medium

Lobbying activities

Low

Water use

Staff development & training

No Relevance

Medium

Money laundering

Low

Resilience to catastrophe/ disaster

Safe working conditions

High

Political contributions

High

Low

Social Enterprise Partnering

Low

Remuneration Committee independence

Low

Stakeholder relations

Medium

Shareholder Rights

Low

Tax evasion prevention

Low

A full breakdown of each material ESG topic, including the impact Phoenix's operations may have and the policies, commitments and actions we have in SODFH WR DGGUHVV WKHP LV SURYLGHG LQ $SSHQGL[ȑ

Whistleblower protection

Medium

1 There have been no changes in materiality since YE 2024. 2 3DJHV

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Responsible Business Report 2026

Responsible Business Report 2026

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