Board evaluation 2026

Please Refer your votes/comments to the period under review: YEAR 2026

Your answers to this questionnaire will be treated in the strictest confidence and the resulting data will therefore always be used and reported in a consolidated form.

All questions marked with * are mandatory

Section 1/6

Self-assessment on new Board Skill Matrix (BSM)

1. Following the recent update of the BSM, you are requested to indicate a score from 1 to 5 for each of the seven skills below, as included in the BSM, based on the level you believe you possess for each competency. The result of the assessments will also be included in the Corporate Governance Report, on an aggregate basis only.*

1.1. Management, Strategy & Mergers & Acquisition*

Experience in top management as CEO/Chairman/Senior Executive in listed companies of significant size and complexity, leading strategy, business development/transformation or a strategic function and, preferably, specific experience in M&A operations and post-merger Integration.

1.2. Similar industrial sector*

Knowledge and experience in large industrial companies, preferably in the energy transition business, and significant knowledge of industrial operations and product technology.

1.3. Geographies & international experience*

Knowledge and experience of the key strategic countries where the Group operates.

1.4. AI, Digital Innovation, ICT & Cybersecurity*

Experience and background in artificial intelligence, digital innovation, information, communication and technology, and cybersecurity.

1.5. Finance & Risk Management*

Experience in leadership roles – such as CFO, Risk Officer, Internal Audit Officer - preferably in international industrial companies; as alternative, at least 5-year experience in a Risk and Control Committee or Audit Committee.

1.6. Governance*

Knowledge of the laws, legislation and codes of conduct and governance best practices in listed companies; experience preferably chairing Governance or Nominations Committees.

1.7. Sustainability, ESG & human capital development*

Competence and experience in integrating sustainability/ESG matters into the business vision and in Human Capital Management.

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Section 2/6

Functioning of the Board's meetings

2. Frequency of the Board meetings is*

Adequate Not Adequate: too many meetings Not Adequate: too few meetings

3. The average duration of the Board meetings is*

Adequate Not adequate: sometimes the duration is excessive Not adequate: sometimes the duration does not allow for a full discussion of the topics

4. The meetings' agenda correctly reflects the priorities and relevance of the topics to be discussed, to ensure that all matters are given adequate space*

5. Information and documentation received prior to the Board meetings are clear, complete, effective and with adequate summary*

6. Information and documentation received before Board meetings are provided in a timely and effective manner*

7. Accessibility to the Board papers via 'CDAonBOARD' Application/Portal*

8. During board meetings more time should be allocated to the following topics*
(multiple choices are possible)

Strategy Risks and Internal Control Extraordinary transactions and investments Corporate Governance Human Resources and Organisation Succession planning Remuneration Business Management Sustainability/ESG Cybersecurity All the above topics are sufficiently discussed

9. Further topics, if any, to be discussed during board meetings

10. The balance of discussion and Q&A time versus presentation time is appropriate*

11. Directors come to meetings appropriately prepared*

12. Accuracy of the content of the information on quarterly basis provided to the Market/Stakeholders in relation to the Company business performance and strategic choices are*

Adequate Not adequate

If "Not adequate", please specify

13. Meeting minutes effectively report clear resolutions and the main discussions on individual topics*

Agree Disagree

If "Disagree", please specify

14. Do you feel able to express your opinion freely during Board meetings?*

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Section 3/6

Positions and Roles

If you are the subject of the question (highlighted in red), please don't score the question

15. The Chairman adequately manages the Board's work, sets the times, and promotes debate and decision-taking.

(question not applicable to the Chairman)

16. The CEO provides the Board with information concerning management trends, developments and major operations at Group level.

(question not applicable to the CEO)

17. The Chairman and the CEO exhaustively answer Directors’ questions

(question not applicable to the Chairman and to the CEO)

18. The relationship between the Chairman and the CEO is constructive and well-balanced

(question not applicable to the Chairman and to the CEO)

19. Delegation of powers between the Board and the executives Directors (CEO and CFO) is adequate and allows to maintain a correct balance between strategy and management

(question not applicable to the CEO and to the CFO)

20. Presentations provided in Board meetings by the Group's key-managers are clear, precise and effective, thus allowing Directors to form a clear opinion on the specific topics*

21. The Corporate Affairs function and the Board Secretary provide adequate support to the Board by ensuring effective and timely organisational and administrative guidance to the Directors.*

22. The Lead Independent Director is effective as a point of reference for Independent Directors and in coordinating the requests and contributions of both the Non-Executive and Independent Directors, as well as heading the meetings held solely for the Independent Directors

(question not applicable to the Lead Independent Director)

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Section 4/6

Internal Committees

23. Are you satisfied with the current establishment of no.3 Committees within the Board (Control and Risks Committee, Remunerations and Nominations Committee, Innovation and Sustainability Committee)?*

Yes No

If "No", please specify

24. The current composition of the Committees is appropriate, adequate and to be maintained in the future. Specifically*

Adequate

Room for improvement

Not adequate

I don't know

Control and Risks

Adequate Room for improvement Not adequate I don't know

Remunerations and Nominations

Adequate Room for improvement Not adequate I don't know

Innovation and Sustainability

Adequate Room for improvement Not adequate I don't know

If 'room for improvement' or 'not adequate', please specify

25. The mission of the Committee is adequate, clear and to be maintained in the future. Specifically*

Adequate

Room for improvement

Not adequate

I don't know

Control and Risks

Adequate Room for improvement Not adequate I don't know

Remunerations and Nominations

Adequate Room for improvement Not adequate I don't know

Innovation and Sustainability

Adequate Room for improvement Not adequate I don't know

If 'room for improvement' or 'not adequate', please specify

26. The Committees effectively fulfil their supporting role to the Board, with distinctive and impactful contribution. Specifically*

Adequate

Room for improvement

Not adequate

I don't know

Control and Risks

Adequate Room for improvement Not adequate I don't know

Remunerations and Nominations

Adequate Room for improvement Not adequate I don't know

Innovation and Sustainability

Adequate Room for improvement Not adequate I don't know

If 'room for improvement' or 'not adequate', please specify

27. The Committees Chairs' reporting to the Board is sufficiently detailed and transparent. Specifically*

Adequate

Room for improvement

Not adequate

I don't know

Control and Risks

Adequate Room for improvement Not adequate I don't know

Remunerations and Nominations

Adequate Room for improvement Not adequate I don't know

Innovation and Sustainability

Adequate Room for improvement Not adequate I don't know

If 'room for improvement' or 'not adequate', please specify

28. Comments/advices to improve functionality and efficiency of the Remunerations and Nominations Committee and to remove obstacles encountered by the Committee in carrying out its activity:

29. Comments/advices to improve functionality and efficiency of the Control and Risks Committee and to remove obstacles encountered by the Committee in carrying out its activity:

30. Comments/advices to improve functionality and efficiency of the Innovation and Sustainability Committee and to remove obstacles encountered by the Committee in carrying out its activity:

31. You are ... *

(according to your following choice, you will be redirect to the appropriate and dedicated section of the survey)

... an Executive Director or a Non Independent Director ... an Independent Director or the Chairman of the Board of Statutory Auditors

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Section 5/6

Questions for the Independent Directors and the Chairman of the Board of Statutory Auditors

32. The Independent Directors are distinguished by substantial and not just formal independence requirements*

Yes No

If "No", please specify

33. The meetings held with only Independent Directors are useful and to be maintained in the future

(question not applicable to the Chairman of the Board of Statutory Auditors)

Yes No

34. Your relations with the Group's key managers are open and collaborative and such as to allow further and useful information to be acquired to 'act informed'*

35. The attendance of Group's key-managers to the Board’s meetings is*

Properly organized Excessive Insufficient

36. Group's key-managers reporting to the Board is of a high quality, transparent and focused and facilitates Board decision making*

37. You feel you are sufficiently aware of the Company facts*

38. As an Independent Director, you feel you are sufficiently involved and you can influence a decision of the Board

(question not applicable to the Chairman of the Board of Statutory Auditors)

39. You are able to receive, upon your request, additional information regarding the topics discussed by the Board*

40. The Board fully exercises its strategic guidance role and has ample opportunity to influence strategic development*

41. How do you rate the induction program carried out during the 2025/2026 period also considering the off-site events (at McKinney, Pikkala and Gron)*

42. Thinking about the future, please indicate the topics you would like to be further developed in the context of the induction/training program

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Section 6/6

Miscellanea

43. Please provide your personal score to this survey method for the first year of the current mandate of the Board*

44. Please provide your personal score regarding the general quality of the questions*