EU Taxonomy Reporting

Since the EU Taxonomy Regulation came into force, Beiersdorf has been required to provide information on turnover, capital expenditures (CapEx), and operating expenditures (OpEx) associated with environmentally sustainable economic activities. The EU Taxonomy Regulation contains criteria for determining whether an economic activity qualifies as sustainable with respect to various environmental objectives. The overarching goal is to create a more sustainable financial sector and channel investments into green and sustainable projects, thereby contributing to the European Green Deal. We report in accordance with Delegated Regulation (EU) 2026/73, which was published in the Official Journal of the European Union on January 8, 2026 and has been in force since the end of January this year.

Taxonomy Impact Analysis procedure¹

Beiersdorf uses a top-down approach to determine the Taxonomy eligibility of certain business activities with the help of the relevant specialist units. To this end, we have assembled an interdisciplinary team consisting of employees from the tesa and Consumer Sustainability departments, Group Accounting and Consolidation (Consumer), and Sustainability Controlling (tesa). The team continuously analyzes – in close cooperation with the specialist units – whether any Taxonomy-eligible economic activities are being performed.

Taxonomy-eligible activities relevant to Beiersdorf are identified based on the activity descriptions, the referenced NACE codes, and the supplementary publications of the European Commission and the EU Platform on Sustainable Finance.

Identified Taxonomy-Eligible Economic Activities

Beiersdorf’s business model was comprehensively analyzed in connection with the implementation of the EU Taxonomy requirements. The core business activities of Beiersdorf are not covered by the activities listed in the latest version of the Delegated Acts. Only one activity in the tesa Business Segment, which relates to the manufacture of subcomponents for batteries (Activity 3.4), was identified as Taxonomy-eligible. However, this activity is of minor importance compared to Beiersdorf’s core business activities and only makes up a small proportion of the Group’s turnover.

In terms of classifying capital expenditure and operating expenditure, the EU Taxonomy Regulation distinguishes between the following three categories:

• Category A: capital expenditure or operating expenditure related to assets or processes that are associated with Taxonomy-aligned economic activities.

• Category B: capital expenditure or operating expenditure that is part of a (CapEx) plan to expand Taxonomy-aligned economic activities or to allow Taxonomy-eligible economic activities to become Taxonomy-aligned.

• Category C: capital expenditure or operating expenditure related to the purchase of output from Taxonomy-aligned economic activities and individual measures enabling the target activities to become low-carbon or to lead to greenhouse gas reductions.

Due to Beiersdorf’s business model, no capital expenditure or operating expenditure other than that related to economic activity 3.4 are allocated to category A. Similarly, as we are not drawing up any investment plans to convert our activities into Taxonomy-aligned economic activities, none of our capital expenditure or operating expenditure is allocated to category B. Beiersdorf therefore only has to take into account capital expenditure and operating expenditure relating to the purchase of output from Taxonomy-aligned economic activities and individual measures (category C).

The reported economic activities relate exclusively to the environmental objective of “climate change mitigation,” as they can make a positive contribution to the reduction of CO₂e emissions in the Group and are in line with Beiersdorf’s sustainability strategy. In this context, Taxonomy-eligible economic activities are assessed based on the technical screening criteria (“substantial contribution” and “do no significant harm”), i.e., in accordance with Annex 1 to the Commission Delegated Regulation (EU) 2021/2139. Economic activities contributing to the environmental objective “climate change adaptation” are included exclusively in reports for selected investment projects with a focus on factors in connection with climate change adaptation.

In the course of the data collection and reporting process, we make sure that each economic activity is clearly allocated to an EU Taxonomy activity. We can thus rule out the possibility of economic activities being allocated twice.

The following economic activities were identified as Taxonomy-eligible:

Manufacturing Industry/Goods Manufacturing

• The manufacture and sale of products from the Consumer Business Segment do not fall within the scope of the EU Taxonomy. The manufacture of subcomponents for batteries (Activity 3.4, “Manufacture of batteries”), qualifies only a small proportion of the tesa Business Segment’s economic activity as Taxonomy-eligible. Its other activities do not generate Taxonomy-eligible turnover. For example, tesa does not manufacture plastics in primary form, but sources them from suppliers.

Energy

• Activity 4.24, “Production of heat/cool from bioenergy” was identified as relevant for Beiersdorf as biomass is used for the internal heat supply.

• Activity 4.25 “Production of heat/cool using waste heat” was also identified in this area. At Beiersdorf, waste heat is used for internal heating processes.

Construction, Extension and Operation of Water Collection, Treatment and Supply Systems

• Activity 5.1, “Construction, extension and operation of water collection, treatment and supply systems” was identified as relevant for Beiersdorf as reverse osmosis systems at some production sites result in reuse of water for production.

Transport

• Our transportation activities are generally outsourced to service providers, meaning we do not conduct any Taxonomy-eligible activities in this area. Our own fleet of company cars falls under Activity 6.5 “Transport by motorbikes, passenger cars and light commercial vehicles.”

Construction and Real Estate Activities

• Combined packages of measures reported in connection with Activity 7.2 “Renovation of existing buildings” include content which is allocated to Activities 7.3, 7.5, and 7.6. The investment project (package of measures) must be in excess of 25% of the value of the building.

• Activities 7.3 “Installation, maintenance and repair of energy efficiency equipment,” 7.5 “Installation, maintenance and repair of instruments and devices for measuring, regulation and controlling energy performance of buildings,” and 7.6 “Installation, maintenance and repair of renewable energy technologies” are part of our building management; they also include the installation, maintenance, and repair of heating, ventilation, and cooling systems, photovoltaic systems as well as measuring systems and energy-efficiency control units in our administrative buildings and production facilities.

• Activity 7.4 “Installation, maintenance and repair of charging stations for electric vehicles in buildings (and parking spaces attached to buildings)” was identified as relevant, as there are vehicle charging stations on our premises that are operated by a third party.

• Activity 7.7 “Acquisition and ownership of buildings” covers investment activities in connection with the construction or expansion of our production and administrative buildings. The construction of these buildings is carried out by external construction companies. Capitalization of right-of-use assets from leases (IFRS 16) for rented office buildings is also reported under Activity 7.7.

Information and Communication

• Activity 8.1 “Data processing, hosting and related activities” was identified as relevant for Beiersdorf, since the Consumer Business Segment operates a data center and provides these services to tesa. The acquisition of third-party computing power (cloud computing services) is also taken into account in this context.

The data basis for determining the key figures (turnover, capital expenditure, and operating expenditure) for Taxonomy-eligible and Taxonomy-aligned economic activities (numerator) and their corresponding reference figures (denominator) is generally derived from Beiersdorf’s financial controlling systems.

Taxonomy-Eligible Turnover

The denominator for the purposes of the EU Taxonomy is determined in line with the definition of sales in the consolidated financial statements (see Notes to the consolidated financial statements, Income Statement, Note 01).

For the 2025 reporting year, sales relating to the manufacture of subcomponents for batteries are reported under Activity 3.4 “Manufacture of batteries.” The sales generated in this area are attributable entirely to the tesa Business Segment. These transactions amount to €15 million and therefore represent 0.2% of our Group sales of €9,852 million.

Taxonomy-Eligible Capital Expenditure (CapEx)

The reference figure (denominator) of our Taxonomy-eligible activities is determined in accordance with the requirements of the EU Taxonomy Regulation. For the 2025 reporting year, the reference figure is €521 million (denominator). In addition to the investments in intangible assets (Note 11 to the consolidated financial statements) and property, plant, and equipment (Note 12 to the consolidated financial statements) reported in the annual report, this figure also includes investments related to right-of-use assets from leases (Note 12 to the consolidated financial statements).

Capital expenditure for projects and long-term leases is allocated to the activities identified as Taxonomy-eligible with the help of Beiersdorf’s financial controlling systems and interviews with the responsible departments. For the 2025 reporting year, capital expenditure amounting to €119 million – a share of 22.8% – is attributable to Activity 7.7 “Acquisition and ownership of buildings.”

In total, our Taxonomy-eligible capital expenditure amounts to €162 million. This corresponds to a share of 31.1% of the total capital expenditure (denominator) of €521 million for the 2025 reporting year. The change compared to the previous year is primarily attributable to the conclusion of projects in connection with the modernization and expansion of our (production) sites and the associated capital expenditure in 2025 (Activity 7.7).

Taxonomy-Eligible Operating Expenditure (OpEx)

The data basis for calculating the reference figure (denominator) for Taxonomy-eligible operating expenditure for the 2025 reporting year is derived from Beiersdorf’s financial controlling systems. The reference figure is the sum of the following cost components:

• Research and development expenses

• Expenses in connection with short-term and low-value leases

• Maintenance and repair expenses

Where possible, operating expenditure was allocated directly to the identified Taxonomy-eligible activities using data from our financial systems. In cases where it was not possible to directly allocate percentage shares, these shares were broken down and, if necessary, allocated using appropriate keys (e.g., capital expenditure for Taxonomy-eligible activities).

Taxonomy-eligible operating expenditure amounted to €41 million. Compared with the operating expenditure reference figure of €558 million, this is equivalent to a share of 7.3%. The change compared to the previous year is primarily attributed to operating expenditures reported in connection with activity 6.5, 7.7 and 8.1 for the financial year 2025.

Approach and Results of the Alignment Analysis

To assess whether the Taxonomy-eligible activities relevant to Beiersdorf are Taxonomy-aligned, we conducted a comprehensive analysis of the relevant technical screening criteria as set out in the annexes to the Delegated Acts on the EU Taxonomy. For a Taxonomy-eligible activity to be classified as Taxonomy-aligned, the following requirements must be satisfied cumulatively:

• Compliance with the technical screening criteria for a substantial contribution to the respective environmental objective

• Compliance with the technical screening criteria to avoid material adverse effects on other environmental objectives (do no significant harm, DNSH)

• Compliance with minimum safeguards

In principle, compliance with the technical screening criteria is checked and documented individually for each activity. DNSH compliance regarding Appendix A (“Climate change adaptation”) is verified centrally for the relevant Taxonomy-eligible activities with the help of a climate risk and vulnerability assessment for each site.

Beiersdorf relies on processes, documents, and guidelines that are established within the Group to review and comply with the minimum safeguards (see “ESRS S2 – Workers in the Value Chain” and “ESRS G1 – Business Conduct”). Beiersdorf actively promotes compliance with laws, codes of conduct, and human rights. Our annual risk management process includes an assessment of human rights violations by our employees and in our supply chain. Beiersdorf advocates for fair competition and actively prevents corruption through a number of compliance programs. Through appropriate monitoring measures, Beiersdorf ensures that the minimum safeguards of the EU Taxonomy are met. Beiersdorf has a compliance management system for taxes similar to the Group-wide compliance management system.

Based on our analyses and a materiality threshold of 10%, we identified a material Taxonomy-aligned share for the following activity:

• Activity 7.7 “Acquisition and ownership of buildings”

For the remaining activities identified as taxonomy-eligible, for turnover, CapEx, and OpEx, an assessment of taxonomy alignment was not performed due to their qualitative and quantitative immateriality. The sector allocation is presented in the section “Identified Taxonomy-Eligible Economic Activities.”

All taxonomy-eligible activities that were not assessed for taxonomy eligibility amount to 0.2% of revenue, 8.3% of CapEx in total (excluding activity 7.7), and 7.3% of OpEx.

The following table shows the amount of taxonomy-aligned capital expenditure, broken down by its components.

To check our compliance with the technical screening criteria in connection with Activity 7.7 “Acquisition and ownership of buildings,” we primarily relied on the available energy performance certificates (EPCs) and the primary energy demand listed therein. In the event that no energy performance certificate was available, we used alternative external confirmations that provide appropriate evidence of compliance with the limits specified in the technical screening criteria (e.g., energy class A).

Key Figures – EU Taxonomy Reporting

¹ Given the ongoing, dynamic development of the formulations contained within the EU Taxonomy Regulation, also in consideration of the supplementary publications of the European Commission and the EU Platform on Sustainable Finance, uncertainties persist regarding the interpretation of its wording and terms. As a result, we may make changes to our Taxonomy Impact Analysis in the future.