General Information

We are committed to championing sustainability in everything we do — from producing more sustainable solutions and helping our customers reduce their environmental footprint, to being a fair and responsible employer and neighbor.

Basis for preparation

This is the dormakaba Holding AG (“dormakaba”) Sustainability Report 2024/25, which highlights our sustainability commitments, strategic approach, and progress, and is intended for all stakeholders. It is the company’s tenth sustainability report. Our previous nine reports have been prepared in accordance with the GRI standards, and this year we actively transitioned to the European Sustainability Reporting Standards (ESRS). We focused on integrating as much of the ESRS core structure as possible to accelerate our readiness for full compliance. dormakaba will be required to report in line with the ESRS earliest in FY 27/28 (pending decisions as part of the EU's Omnibus package), and we are taking decisive steps now to ensure we meet these requirements. For metrics that were already reported in the previous year, comparative metrics are disclosed. For metrics that have not been reported previously, we apply the exemption to omit.

The report covers the financial year 2024/25, from 1 July 2024 to 30 June 2025, and it was published on 2 September, 2025. dormakaba reports on an annual cycle and published the previous report in September 2024.

This Sustainability Report also covers additional mandatory reporting requirements, including the Task Force on Climate-related Financial Disclosures (TCFD), the Swiss Code of Obligations (SCO), and the EU Taxonomy.

The compensation of the Board of Directors and the Executive Committee, as well as the financial statements found in the Annual Report, were audited by an external auditor. dormakaba also engaged external auditors to conduct a limited assurance of all carbon emission figures (Scope 1–3) in accordance with the GHG protocol. The double materiality process and over 70 KPIs were pre-assessed by external auditors as part of internal controls to discover if any gaps existed. The findings have been reported to the Audit Committee of the Board of Directors.

Significant changes to the organization and reporting

Marianne Janik and Ilias Läber became new independent members of the Board of Directors at the Annual General Meeting in October 2024, and John Liu retired from the Board at the same time. René Peter was appointed as Chief Financial Officer (CFO) ad interim, effective 1 July 2024, and as CFO, effective 25 February 2025, succeeding Christina Johansson, who sadly passed away in February 2025 after a prolonged illness. In addition, Nikola Faulkner joined dormakaba as Chief Human Resources Officer (CHRO), effective 1 March 2025.

Significant changes to reporting methodology in this report include the transition from GRI to ESRS (see “Basis for preparation”) and an update on the emission factors used for Scope 1 and Scope 2 calculations, based on the latest sources including Defra (2024), IEA (2024), US EPA eGRID (2025), and AIB (2024). Fuel property and heating values were also aligned with Defra (2024). The emission factors used for Scope 3 Category 11: Use of sold products updated based on Defra (2024), IEA (2024), and BCI/ILA (2023).

This update reflects ESRS E1-6 and the GHG Protocol standards, ensuring continued alignment with scientific data and recognized calculation practices.

The isolated effect of the updated emissions factors, fuel property and heating values resulted in a –5% change in Scope 1+2 for market-based emissions, –8% Scope 1+2 for location-based emissions, –2% for Scope 1, –7% for Scope 2 (market-based), and –12% for Scope 2 (location-based). Furthermore, the update resulted in –32% in Scope 3, Category 11. Base-year emissions were not recalculated, as changes remained below the materiality threshold and original figures reflected the best available data at the time. Interim years between the base year and reporting year were also not recalculated and continue to use the same factors as the base year.

The Scope 3 inventory was expanded in FY 2024/25 to include Categories 3, 7, 12, 13, and 15.

The injury rate is now normalized to 1,000,000 hours worked (500 FTE), replacing the previous 200,000-hour basis. Historical figures were restated for consistency. Internally, the 200,000-hour factor will continue to be used for tracking purposes, as it remains relevant for long-term incentive (LTI) metrics and related targets.

The employee turnover calculation was revised in line with ESRS requirements. It now includes fixed-term contracts and retirements (previously: permanent employees only), and uses financial year-end headcount as the denominator instead of the average. Historical data were not restated due to limited availability for newly included employee types.

Training hours per employee are now based on year-end headcount instead of FTEs, in accordance with ESRS. Historical data were restated to ensure comparability.

Reporting coverage and processes

The data presented covers over 95% of dormakaba employees in 116 locations worldwide. These are locations with more than 20 employees and include all manufacturing facilities. Environmental data, including around energy, water, waste, and materials consumption, is collected via an internal business intelligence reporting platform. Each location has a dedicated reporter. For everything except materials use, internal reporting deadlines are set on a quarterly basis. Materials use is reported half-yearly. The majority of Human Resources data, particularly data on workforce composition, turnover, and diversity, is gathered through the Group-wide human resources information platform SAP SuccessFactors. Figures on, for example, adequate wages, social protection, family-related leave, training hours and collective bargaining are reported on an annual basis by local HR managers for all in-scope reporting units via an internal business intelligence reporting platform. Injury rates, injury and accident types, corrective actions, and root cause analysis data is collected in a web-based health and safety tool. Data quality controls and consolidation for all data are provided after the end of the financial year by an external consultant.

The Sustainability Report review process has several phases, including the review of the dedicated chapters (both qualitative and quantitative content) as well as relevant parts of the ESG Performance table and the Strategic Targets table by topic owners in the Executive Committee and the CEOʼs direct reports. Furthermore, the CFO and the CEO review abstracts of the chapters, the ESG Performance table, and the Strategic Targets table. The Audit Committee is responsible for contributing to the integrity of the Sustainability Report and monitoring the assurance process, and the Board of Directors reviews and approves it.

dormakaba value chain

At dormakaba, sustainability is embedded throughout the entire value chain. From the sourcing of raw materials through the end-of-life of our products, we take a comprehensive approach to integrating responsible practices at every stage. This begins with upstream efforts, such as responsible procurement and active supplier engagement; continues through our own operations, including sustainable product design, environmentally conscious manufacturing, and the promotion of fair and safe working conditions; and extends to downstream activities focused on customer and end-user health and safety, as well as the circular handling of products at their end of life. Through this integrated approach, dormakaba is committed to reducing environmental impact, safeguarding human rights, and creating long-term value for all stakeholders.

The below value chain mapping was developed by Corporate Sustainability in collaboration with members of the Sustainability Working Group, including representatives from product management, product development, compliance, HR, procurement and operations, allowing for a holistic view of all of dormakabaʼs geographical scope, business activities and value chain industries.

Raw materials & sourced goods (Upstream)

Our global procurement volume with external vendors represents around 49% of total net sales. We work with approximately 12,300 active suppliers, with spend concentrated in Europe (41%), Asia (23%), and the Americas (12%). Indirect spend mainly covers capital goods and services. To assess impacts, risks, and opportunities in Tier 1, we analyzed spend data, type of goods/services and their industries, and countries of origin for all suppliers. For Tier 2+, mining and raw material processing were also considered due to our reliance on metals and glass.

Transportation (Upstream, Own Operations and Downstream)

At dormakaba, transportation plays a critical role across the entire value chain. In the upstream phase, we source goods from suppliers who deliver them to our manufacturing sites by using air, sea, rail, and road transportation. Within our own operations, semi-finished products are transferred between dormakaba production facilities to support multi-stage manufacturing processes. These are subsequently shipped either to our sales units or to regional logistics centers. In the downstream value chain, our regional distribution hubs not only supply our sales organizations but also coordinate outbound logistics to third-party distributors, again relying on external transport partners operating across all major transportation modes.

dormakaba production and administration (Own Operations)

This value chain step includes all dormakaba manufacturing units, local assembly units, logistics centers, service hubs and offices. Employee data and the types of materials being processed were taken into account in the double materiality assessment.

Distribution, use and end of life (Own Operations and Downstream)

dormakaba products are sold by our sales units directly to building developers as well as to distributors and wholesalers. dormakabaʼs own workforce provides after-sales services (e.g., maintenance, repairs and spare parts). Installation work is either carried out by dormakabaʼs own workforce or outsourced to installation partners. Currently, dormakaba has approximately 457 installation partners, of which 37% are in Europe, 36% are in Asia and 27% are in the Americas.

dormakaba products have typical lifetimes of 10–20 years with some products — like partitioning systems — having 40-year lifetimes. Electromechanical products have a shorter lifetime than mechanical products. During this period, building tenants and visitors come into contact with dormakaba products on an almost daily basis and service/maintenance work is carried out regularly by our own staff or third parties. During demolition or renovation, dormakaba products are often recycled due to the high value of the metals they contain.

Accuracy of value chain data

In FY 24/25, our Scope 3 GHG emissions Categories 1, 2, 4, 5, 6 (metric: CO₂e tonnes) were partly estimated using industry-average emission factors due to incomplete supplier-level data. We assess the accuracy of this estimate as moderate (±15–20%) based on published data variability. To improve this, we launched a supplier questionnaire through a reputable external service provider aimed at collecting primary activity data, expected to reduce uncertainty to around ±10%. However, before completing the data collection, the third-party service provider faced insolvency. We will re-launch the program in FY 25/26 with a new partner.

Strategy & Governance

dormakaba strives to promote sustainable development along the value chain as part of our economic, environmental, and social responsibility toward current and future generations. We seek open and transparent dialogue with stakeholders to define strategies and actions based on clear goals and continuous improvements. We are guided by the precautionary principle as the foundation of sustainability. Negative impacts on the environment and health should be prevented to the greatest extent possible by all employees in all business activities. This approach is set out in our Code of Conduct, which outlines our values, principles, standards, and norms of behavior.

At dormakaba we welcome the EU’s and local governments’ ambition to foster more responsibility within the business sector. We take our obligations to comply with the increasing number of sustainability laws and regulations seriously, including the German Supply Chain Act, the Swiss Conflict Minerals and Child Labor Due Diligence Legislation, the EU Taxonomy, and the EU Corporate Sustainability Reporting Directive.

We have aligned our activities with the UN Sustainable Development Goals (SDGs), focusing on environmental, social, and governance (ESG) impact. We can make a substantial contribution to nine of the SDGs by addressing our material topics and also see the SDGs as a guide for focusing on new business opportunities.

Sustainability is embedded in our strategy and vision

As part of our company strategy Shape4Growth, dormakaba has committed to an industry-leading framework for sustainability with ambitious ESG targets. We share the belief that sustainability is at the core of our industryʼs future and of the building industry in general, and thus critical for our business model. With Shape4Growth, we have further integrated sustainability into our solutions, operations, and processes to better meet the expectations of our customers. We must do our part to reduce the carbon footprint of the buildings we supply, as well as in our internal operations.

Our Sustainability Framework 2021–2027

We are committed to shaping a more sustainable industry and future. Sustainability is embedded at the core of our strategy and vision and is present in everything we do.

People
We empower our people so that they can unlock their full potential

Aim

We create a fair, inclusive, and safe culture that enables our employees to thrive. We provide a workplace where they can continuously grow, openly contribute with their ideas, and feel proud of their achievements.

Material topics

• Fair Employment
• Training & Education
• Diversity, Equity & Inclusion
• Occupational Health & Safety

Planet
We open the doors wide to a low-carbon and circular economy

Aim

We develop innovative and resource-efficient solutions for the circular economy and do our part to ensure a climate-resilient future. We offer durable and energy-efficient products that help our customers achieve their own sustainability goals.

Material topics

• Energy & Emissions
• Circular Economy & Materials
• Environmental Compliance

Partnerships
We collaborate to promote sustainable development beyond our own doors

Aim

We lead by example and engage with our partners to drive more eco-friendly practices and support the protection of human rights. Through our secure access solutions, we also contribute to peopleʼs health and safety. We work with partners to raise awareness of the safe operating practices of our products.

Material topics

• Supplier Sustainable Development
• Human Rights
• Forced or Compulsory Labor
• Customer Health & Safety
• Marketing & Labeling

Strategic targets

In line with this strategic approach, dormakaba has committed to working toward 31 sustainability goals during the current strategic period.

Target-setting process

The sustainability target-setting process is governed by our Sustainability Management System and follows a structured, multi-stakeholder approach in line with best practice and ESRS requirements.

Target proposals are developed by the Corporate Sustainability team in collaboration with external experts and leads from functional Expert Groups embedded within the Sustainability Working Group. These proposals are based on a comprehensive competitor analysis, industry benchmarking, and alignment with internationally recognized standards, frameworks and methodologies, including:

• the Science Based Targets initiative (SBTi) for Scope 1–3 climate targets,
• the Ellen MacArthur Foundation Principles for Circular Economy,
• the LEED Green Building Standard for resource efficiency and sustainable infrastructure.

To ensure internal alignment and stakeholder involvement, functional leaders — including representatives from Human Resources, Procurement, Health, Safety & Environment (HSE), Product Development, and Product Management — review the proposed targets within the Group Sustainability Council. This council facilitates feedback through workshops and roundtable discussions involving their respective teams and the Corporate Sustainability function. The cross-functional members of top management in the Group Sustainability Council, in particular from Operations, Procurement and Product Development, are best placed to reduce, for example, sources of Scope 1, 2 and 3 emissions and develop strategies to achieve other targets related to material topics.

Following this engagement process, the Group Sustainability Council finalizes and submits the aligned targets for formal approval by the Executive Committee and the Board of Directors.

We attach great importance to the evaluation of activities and projects to fulfil these objectives. For this reason, the company has developed an initiative tracker that records and recognizes the sustainability and climate-related impacts of projects. At an operational level, it is the responsibility of Quality, Health & Safety and Environment (QHSE) managers, plant managers and Site Heads at each site within the scope of global targets to establish additional measures and initiatives related to climate change adaptation and mitigation and to support sustainability target achievement. They are also responsible for overseeing the implementation of these measures.

We monitor progress monthly and track performance against our targets on a quarterly basis to the fullest extent possible. Progress reports are distributed regularly to relevant members of the Executive Committee and the Group Sustainability Council, which conducts formal progress reviews twice per year. In addition, sustainability performance is reviewed quarterly by the Chairman of the Board and annually by the entire Board of Directors.

Progress in FY 24/25

In the fourth year of implementation, we have made good progress on our targets in most cases. In particular, we have made strong progress on the following:

• We are on track to meet our operational emissions (Scope 1+2) reduction target, having achieved a 10% reduction (6,340 tCO₂e) compared to the previous financial year and a 25% reduction (18,841 tCO₂e) since our FY 19/20 baseline. This progress is driven by our climate-related initiatives, including the use of renewable energy. A key example is the solar installation project at our Hallam site in Australia, designed to power both the factory and the office, with a goal of cutting annual local carbon emissions by 54%.
• The recordable injury rate decreased by 22% compared to the previous FY and by 33.5% versus the FY 20/21 baseline, meaning we have reached our 2027 target well ahead of schedule. This improvement is largely due to our already strong safety culture and the fact that all sites now meet the minimum requirements of the Health & Safety Directive, supported by tailored action plans addressing site-specific risks and gaps. To further accelerate progress, we launched the Top 10 Turnaround Program, targeting the sites with the highest number of injuries.
• We advanced significantly toward our goal of sending zero waste to landfill by 2027 (1,586 tons of waste to landfill in FY 24/25 vs. 3,443 tons in the baseline year). Currently, 33 manufacturing sites are working on their sustainable waste management roadmaps, with 10 sites receiving tailored support through on-site audits conducted by an external expert. This year, new sites in Canada and Peru joined the program, while local management continues to be trained and encouraged to share best practices. A standout achievement is at our Modernfold production site in Dyersville, USA, which previously accounted for 44% of our global landfill waste. Through gypsum recycling, the site reduced its landfill waste by 34% versus last year.
• In FY 24/25, we made significant progress toward our goal of doubling sustainability-related product declarations and certifications by 2027. We now provide transparent sustainability information for over 323 products, representing an 18% increase compared to the previous year and a 90% improvement versus our FY 20/21 baseline of 170 declarations. A key driver of this progress was the variety of different product declarations and certifications we provide. For example, we have obtained recycled content certifications from Green Circle Certified for 39 products.

Challenges in FY 24/25

Despite the good progress, we have faced challenges in some areas. The following topics will receive particular focus in FY 25/26:

• Progress on transitioning to fossil fuel-free plastic packaging remained limited due to material availability constraints, supplier immaturity, and high costs. Many potential solutions failed to meet dormakaba’s performance and sustainability standards, delaying implementation. Efforts are ongoing to close these gaps through expert engagement, supplier development, and continued material testing in FY 25/26.
• Net Zero Fleet initiatives: Targeting a 100% electric vehicle (EV) fleet by 2030 in France, Germany and the UK, we made advancements in Germany and the UK. However, dormakaba France remains well behind schedule, hindered by limited EV model availability, technical challenges, inadequate commercial van options and regulatory changes reducing incentives. In FY 25/26, the company plans to replace 42 vehicles with EVs, add 24 charging stations, expand home charging, boost internal promotion, and launch a task force to tackle key barriers. To improve tracking and decision-making in general, Corporate Sustainability will lead the global rollout of a standard Fleet Carbon Calculator, apply Life Cycle Costing (LCC) to fleet investments, encourage stricter quarterly reporting, and require justification and LCC comparisons for any non-EV purchases. This will help achieve better alignment with local transition goals.
• Over the past two years, we worked with a strategic partner to pilot take-back programs in Austria, Germany, and the UK, assessing local conditions and engaging internal teams to identify opportunities and challenges. However, the pilot programs did not yield viable results. The main challenges were limited visibility and control over product disposal, partner reluctance to collaborate, and competition with local recyclers. In the upcoming financial year, we will reevaluate our approach to product take-back schemes.

You can read more about these achievements and challenges in the relevant chapters of this report.

People

Material Topic	Target	Target Year	Base­line FY 20/21	Perfor­mance FY 24/25	Notes	Status
Fair Employment	Maintain our employee engagement score at or above the IBM Global Norm (73)	2027	70% 1)	71%	Based on the latest results from the dormakaba dialogue in FY 22/23. Top management has decided to host the next survey in November 2025 to allow for further maturity of the company strategy.	p3
Training & Education	Increase average training hours to 20 hours per employee per year 2)	2027	12.7 hrs/employee	15.6 hrs/employee	We have improved by 13.3% versus the last financial year’s performance.	p4
Diversity, Equity & Inclusion	1 in 3 managers are women	2027	19%	22%	Performance on this sustainability target remained consistent with the previous year, with no significant progress recorded. We recognize the need for renewed efforts and are currently assessing strategies to accelerate improvement in this area.	p2
	25% women in succession planning for top management positions	2027	14%	25%	Having already attained the desired target level, we will continue to monitor.	p10
Occupa­tional Health & Safety	Decrease the recordable work-related injury rate by 33%	2027	6.93	4.61	We have achieved our target ahead of schedule and have seen a significant drop in the number of recordable work-related injuries (128 vs. 164 in the last financial year).	p10

1 Baseline FY 19/20 in line with the dormakaba dialogue cycle

2 Headcount basis

Planet

Material Topic	Target	Target Year	Base­line FY 20/21	Perfor­mance FY 24/25	Notes	Status
Energy & Emissions	Reduce operational emissions (Scope 1+2) by 42% in line with a 1.5°C future	2030	74,770 tCO 2 e 1)	55,929 tCO 2 e	We are well on track and have reduced emissions by 25% versus the baseline.	p6
	Reduce value chain emissions (Scope 3) from purchased goods and services and the use of sold products by 25%	2030	734,850 tCO 2 e 1)	785,778 tCO 2 e	For the first time, both emissions from purchased goods and services and from the use of sold products have dropped, and this by 6% versus the previous year. It remains critical that we continue to engage our suppliers on decarbonization strategies, and this will remain our core focus in FY 25/26.	p0
	Become carbon neutral in our operations	2030	74,770 tCO 2 e 1)	55,929 tCO 2 e	We will continue to reduce carbon emissions in line with our 1.5°C commitment through to 2030. Starting in 2030, residual emissions will be offset through Gold Standard-certified projects.	p6
	Achieve net zero emissions	Latest 2050	810,437 tCO 2 e 1)	930,665 tCO 2 e	We remain fully committed to reducing our overall emissions footprint. Our reported Scope 1 – 3 carbon emissions have increased by 63,125 tCO 2 e due to the expansion of our Scope 3 inventory to include all relevant categories, with Categories 3, 7, 12, 13 and 15 reported for the first time.	p0
	Have best-in-class energy efficiency for new products	2023	–	Target achieved	Our EcoDesign Specification Template is mandatory for all new product developments since FY 23/24.	p10
	Reduce energy intensity of our operations by 25%	2030	100.5 MWh/mCHF 1)	85.1 MWh/mCHF		p6
	80% of purchased electricity is from green sources	2030	46%	56%		p7
	100% of fleet in Germany, France, and the UK is electric- or hydrogen-based	2030	–	16%	We saw an improvement versus 9% in the previous year. The increase is driven by the adoption of new electric vehicles (EVs) in Germany and the UK.	p2
	All manufacturing sites maintain Energy Management Systems based on ISO 50001 3)	2023	21% 2)	Target achieved	+39% vs. previous year	p10
Circular Economy & Materials	All new product developments and optimizations are covered by our circularity approach	2023	–	Target achieved	Our EcoDesign Specification Template is mandatory for all new product developments since FY 23/24.	p10
	We offer extended producer responsibility take-back schemes for all products and packaging in top ten sales countries	2027	–	Over the past two years, we worked with a strategic partner to pilot take-back programs in Austria, Germany, and the UK, assessing local conditions and engaging internal teams to identify opportunities and challenges.	Due to significant challenges including competition with recyclers, we will reevaluate our approach in the upcoming financial year.	p5
	Zero fossil fuel-based plastic used in packaging	2027	223 tons	494 tons	Progress remained limited due to material availability constraints, supplier immaturity, and high costs. Efforts are ongoing to close these gaps in FY 25/26.	p0
	100% of paper, wood and carton stems from responsible forestry sources as accepted by the US Green Building Council	2027	–	33%	We have transitioned around 30% of our paper packaging, over 50% of our cardboard and 15% of wood packaging.	p3
	Double the total number of sustainability-related product declarations / certifications, including Cradle-to-Cradle and for recycled content	2027	170	323	+90% versus the baseline; we are closing in on our target.	p9
	Zero waste to landfill in operations	2027	3,443 tons	1,586 tons	This is a reduction of 38% versus the previous FY and 54% versus the baseline year.	p5

1 Baseline FY 19/20 in line with Science Based Targets initiative validation

2 Baseline FY 19/20

3 Scope refers to all manufacturing sites constituting the top 85% of on-site energy consumption.

Partnerships

Material Topic	Target	Target Year	Base­line FY 20/21	Perfor­mance FY 24/25	Notes	Status
Supplier Sustainable Develop­ment	Assess all high-risk suppliers for their sustainability management through a third party or off-board them for lack of participation	2027	10%	40.5%		p4
	At least 45% of our high-risk suppliers participate in our sustainability engagement program	2027	10%	40.5%		p9
	Close at least 80% of high-priority corrective actions of assessed suppliers	2027	–	4.5%	In FY 25/26 we will focus on further improving communication with our suppliers and monitoring improvements to increase the number of completed corrective actions.	p1
	90% of assessed suppliers with priority findings have completed a sustainability training	2027	–	23%		p2
	Provide information regarding conflict minerals for high-risk suppliers	2027	–	We have requested Conflict Minerals Reporting Templates from over 1,000 suppliers in FY 24/25, with a 63% positive response rate.		p6
Human Rights	Reduce the risk of forced labor for migrant workers by providing ethical recruitment trainings for all of our labor agents in sending and receiving countries	2027	–	Target achieved	We will ensure that all new labor agents receive the same training as part of their onboarding process.	p10
	Support the right to water in communities where we manufacture by establishing water stewardship programs in areas of high water scarcity, with no absolute increase in water consumption and reducing water intensity by 28%	2027	75,086 m 3 absolute consumption and 25.5 L/hours worked 1)	61,995 m 3 absolute consumption and 20.7 L/hours worked	The target was achieved ahead of schedule in FY 22/23, and we will continue to monitor.	p10
	Ensure supply chain traceability for minerals with a high risk of child labor	2027	–	We continued our partnership with Save the Children Switzerland. We also collected a total of 108 Extended Minerals Reporting Templates.	In the first year of our partnership with Save the Children Switzerland, 23 children benefited from support through a child labour remediation initiative targeting the mining sector in the Democratic Republic of Congo.	p8
Customer Health & Safety	Collaborate on health and safety training with subcontractors and installation partners	2027	–	We developed a due diligence strategy focused on installers in our supply chain and a standard contract clause, “Terms & Conditions for Installers”.	In the first phase of the due diligence strategy development, we identified key health, safety, and labor rights risks, and mapped installer locations and responsible departments. The “Terms & Conditions for Installers” contract clause outlines minimum standards, including on freely chosen employment, maximum working hours, and obligations to train staff on health and safety. Rollout is planned in FY 25/26.	p4
	Collaborate on training and provide information materials on the safe operation of our products for all end users	2027	–	–	With no progress made for a second consecutive year and no active strategy in place, we recognize that this target requires a fundamental reassessment. We are taking this opportunity to reflect on underlying challenges and redefine a more realistic and actionable approach.	p0
	At least one corrective action and/or one awareness training session for each product-related injury	2027	–	Target achieved	To support the tracking of corrective actions, we have completed the development of a workflow for product safety risk identification in our global incident management tool.	p10

1 Baseline FY 19/20

Outlook

The table below outlines our plans for FY 25/26, summarizing the number of initiatives planned per material topic and type of activity.

Planned initiatives FY 25/26

Resource allocation and planning

The sustainability resource planning process is closely aligned with the Group’s medium-term planning and budgeting process. Based on the global sustainability targets allocated to each material topic, a set of top-down must-have initiatives is set for each entity or site which influences performance and target achievement. Initiatives are set at the beginning of the calendar year for the following financial year.

Local project managers are assigned, ensuring clear accountability and progress tracking. They provide a bottom-up input on resource needs, and local controllers and finance teams confirm inclusion of these financial resources in the global medium-term financial planning process. Each March, the Group Sustainability Council reviews action plans and budget requirements, working together with local project managers to close any gaps, if needed. The Executive Committee then reviews and approves the planned resources to confirm alignment with strategic goals and budgeting requirements.

The current and planned resources for sustainaibility initiatives can be found below. This table provides a detailed overview of the current and future financial resources allocated to the implementation of the action plans addressing each material topic identified by dormakaba. In line with the ESRS disclosure requirements, the information is structured to reflect both the operational and capital expenditures (OpEx and CapEx) associated with each action plan.

In reference to the requirements of ESRS 2 MDR-A, while we don’t specifically mention financing risk or availability (e.g., cost of capital impact) in further detail, the monetary link shown below demonstrates dependency: without secured funding, implementation cannot proceed as planned.

Current and planned resources

Sustainability governance

Our Sustainability Charter defines the management system required to achieve our sustainability vision. The governance of sustainability-related risks and controls at dormakaba is structured to ensure accountability and reliability in sustainability reporting. The Board of Directors has the ultimate responsibility for overseeing sustainability governance. This includes approving the sustainability framework, reviewing and endorsing the double materiality assessment, and formally approving the annual Sustainability Report. The Board receives an update from the Group Sustainability Officer at least once per year. Six of the current Board members have had direct responsibility for, or obtained special certification in, environmental, social and governance matters and corresponding regulations.

The Board’s Audit Committee plays a central role in ensuring the integrity of sustainability disclosures and monitoring external assurance processes. The Chairman of the Board additionally meets quarterly with the Corporate Sustainability function and receives monthly reports to monitor performance and evaluate risk exposure.

In addition, ESG targets were introduced in 2023 as part of the long-term incentive (LTI) plan for the Executive Committee and top management to reflect the increasing importance of sustainability and cover both social and environmental topics that are addressed by our sustainability framework. The ESG portion of the LTI plan is weighted at 20% and consists of specific and measurable targets on climate change mitigation, building a proactive safety culture, and addressing customer needs in achieving green building standards. These targets are reviewed annually and are aligned with our broader sustainability roadmap and risk priorities. The level of achievement against these ESG targets directly influences remuneration outcomes under the LTI scheme, reinforcing accountability at the highest level. The Nomination and Compensation Committee oversees the calibration, monitoring, and evaluation of these targets, ensuring they are both ambitious and credible. Further information can be found in our Compensation Report.

At the executive level, the Executive Committee (EC) is accountable for setting the company’s sustainability strategy and objectives and for ensuring their implementation. The EC monitors progress through monthly reports on the status of sustainability initiatives and integrates corrective actions where targets are off track. It also approves resource allocation annually to ensure sufficient financial and human capital are available to meet strategic sustainability goals.

Furthermore, the EC approves material sustainability topics and target ambition levels, based on recommendations from the Group Sustainability Council. The Group Sustainability Officer reports directly to the CEO and can therefore also raise alerts on highly relevant climate-related and sustainability issues.

The cross-functional Group Sustainability Council, mandated by the EC and chaired by the CEO, includes senior leaders from global functions and regions. Meeting at least twice a year, the Council ensures the implementation of the sustainability framework and promotes ethical, social, and environmental responsibility in line with the dormakaba Code of Conduct. Members share outcomes within their networks. The Council reviews performance and advises the EC on the policies, systems, and resources needed to meet international standards and UN Global Compact commitments.

Corporate Sustainability develops, monitors, and coordinates the implementation of the Sustainability Management System across the organization and develops its related policies and standards. The role of Corporate Sustainability is to report to the Group Sustainability Council regarding the company’s management of sustainability and business conduct, in line with the aforementioned external and internal policies, regulations, charters, and principles. The Corporate Sustainability function chairs the Global Sustainability Working Group and is in regular contact with the Expert Group Leads to give guidance, build capability, and offer project support.

The Global Sustainability Working Group meets bimonthly and annually in person to review performance, share best practices, and develop initiatives to meet sustainability targets. It includes four Expert Groups — Sustainable Products, Supplier Sustainable Development, People, and Environment, Health & Safety — which design and implement initiatives within their areas. Members serve as sustainability experts, supporting site teams and project managers with global standards and objectives. Expert Groups also meet monthly to drive progress.

An overview of the dormakaba sustainability organization can be found below. Further duties, authorities, and reporting channels for the various bodies are set out in the Sustainability Charter.

Sustainability organization

Global Sustainability Conference

In October, dormakaba hosted the Global Sustainability Conference 2024, convening 58 members of the Global Sustainability Working Group to advance the company’s sustainability agenda. The conference brought together diverse and dedicated cross-functional teams, with representatives from Product Development, Product Management, HR, Procurement, Strategy, Compliance, and Operations.

Each Expert Group tackled specific challenges and mapped out next steps to advance their initiatives:

• Sustainable Products: Focused on EU Taxonomy requirements, explored plastic-free packaging, while integrating EcoDesign specifications into new and existing product lines.
• Supplier Sustainable Development: Focused on improving materials data collection, aligning with the EU Deforestation Regulation, and worked on creating supplier sustainability dashboards.
• Health & Safety, Environment: Addressed root cause analysis for injury incidents, fleet decarbonization, and proposed amendments to the Environment Directive related to energy use and emissions.
• People: Worked on advancing dormakaba’s DEI strategy, assessed impact of the EU CSRD requirements on global HR policies, living wage, training hours data collection, and gender pay gap definitions.

Sustainability risk management

We recognize that effective risk management relies on a coordinated effort across the entire Group, from assessing and managing risks to monitoring and reporting. Risk management is therefore integrated into our everyday business processes, consisting of these key activities:

1. Outcome-oriented risk assessment;
2. Definition and implementation of improvement measures based on cost-benefit analysis;
3. Regular monitoring and review of identified risks and mitigation efforts;
4. Transparent reporting on the risk and control environment.

Our risk management framework includes a short- to medium-term outlook (1–3 years) for material risks that could adversely affect the achievement of dormakaba’s objectives, ensuring that the risk management process complements the companyʼs financial planning. However, climate change risk management extends beyond this range. While climate risks are not explicitly captured within the financial planning process, they are considered under broader risk categories.

Risk assessment involves prioritizing risks based on their significance and likelihood of occurrence. Each risk is assessed by “risk process owners," who are responsible for accurate risk identification, appropriate analysis, and implementing improvement measures. Climate-related risks are treated with the same priority as other business risks, using a 4x4 matrix to evaluate the likelihood of occurrence and the significance of impact. Risks are then compiled into a Group risk map with four color-coded quadrants, from red to green, indicating the level of urgency.

dormakabaʼs risk management framework is tightly integrated with its business continuity management system, connected to a central enterprise risk management (ERM) system where all listed risks are captured. Responsibility for risks is delegated to local management. Risks identified at the local level are consolidated into a group-level risk map.

At the corporate level, the Audit Committee, which reports to the Board of Directors, approves the detailed risk map created by the Executive Committee, adopts the necessary risk control and mitigation measures, and reports outcomes annually. This risk map covers strategic, financial, operational, reputational, physical, legal, and compliance risks that could affect the companyʼs business goals and financial targets.

Integration of processes for identifying, assessing, and managing sustainability and climate-related risks into the organization’s overall risk management

Our approach to risk management integrates sustainability and climate-related risks within the broader risk management framework. This integration is achieved through a consistent process that identifies, assesses, and manages various risks, including those tied to climate change. The outcome-oriented risk assessments are designed to capture a wide range of risks, ensuring that sustainability and climate-related issues are given due consideration. The regular monitoring and review process provides continuous oversight, allowing dormakaba to align climate-related risk management with other operational and strategic risks.

This approach encompasses company-wide evaluations of reputational and transitional risks related to sustainability, climate trends in the downstream value chain, and regulatory changes, such as the EU Green Dealʼs impact on the building industry.

Additionally, the Board of Directors plays a key role in ensuring that sustainability and climate-related risks are part of the companyʼs broader risk map. The Executive Committeeʼs involvement in risk management processes ensures that these risks are assessed alongside other business risks. This alignment with existing risk management processes enables us to prioritize and allocate resources effectively, treating sustainability and climate-related risks on par with other business risks, thus ensuring a cohesive strategy for addressing both immediate and long-term risks.

Even so, there is still much we can do to integrate these risks at the business unit level, which is why we have now developed physical climate change risk dashboards for each site to raise awareness locally. Communication packets and roadshows explaining the various risks to local management will roll out in early FY 25/26. This will enable us to prioritize risks for each site, empower them to develop mitigation actions, and streamline the risk management process.

Double materiality analysis to inform risk assessment

The Sustainability Management System integrates risk governance and reporting controls. It is built on the foundation of a regular double materiality assessment, conducted at least every five years and reviewed annually to adapt to emerging issues or stakeholder concerns. Material topics and performance indicators are proposed by the Corporate Sustainability team and validated through several layers of governance, including the Group Sustainability Council, the Executive Committee, and the Board of Directors. Corporate Sustainability coordinates the implementation of the framework, tracks KPIs, manages stakeholder engagement, and ensures cross-functional alignment.

Simultaneously, we use the double materiality analysis to identify climate-related opportunities and value-adding topics, for example. This process, which incorporates stakeholder engagement, provides a balanced strategy to manage climate risks while also exploring opportunities for operational efficiency and safeguarding the companyʼs reputation.

Role of Corporate Sustainability

A core responsibility of the Corporate Sustainability function is to assess environmental and social risks and opportunities across the value chain and operations. This includes conducting climate change scenario analyses to evaluate physical and transition climate risks, reviewing product sustainability claims and marketing communications for greenwashing risks, tracking customer requests related to sustainability to evaluate new business opportunities, and carrying out risk assessments on topics such as biodiversity, water stress, forced and child labor, and migrant worker vulnerabilities.

The function also operationalizes dormakaba’s Human Rights Risk Management System, which enables the systematic identification and prioritization of human rights risks within the company’s operations. This system is based on both internal and external social KPIs — including country risk indices (e.g., Verisk Maplecroft), working hours records, whistleblower reports, and injury incident rates. Each indicator is weighted by likelihood, scope, severity, and irremediability of risk, resulting in a composite site-specific risk score. Sites are categorized on a four-tier scale (extreme, high, medium, low), which informs the prioritization of due diligence actions such as audit cycles, tailored training, and direct support. These risk scores are updated annually and in response to significant events.

At the same time, Corporate Sustainability identifies target supplier groups for sustainability and materials compliance assessments using risk criteria such as country of origin, product composition (e.g., conflict minerals), labor practices, and hazardous material risks. The team also coordinates third-party on-site social audits and assigns suppliers to risk categories based on the nature of goods and services provided, their industry and country of operations.

All findings are integrated into the enterprise risk management system, ensuring visibility and accountability at the organizational level. Results from on-site social audits are reported to the Group Sustainability Council (half-yearly) and Board of Directors (annually).

Overall, dormakaba’s risk management and internal control systems for sustainability, including related non-financial statements, are deeply embedded in its governance structure. Responsibilities and procedures are clearly defined and consistently reviewed across all governance levels, ensuring that sustainability-related risks are identified early, managed effectively, and transparently disclosed.

Double Materiality Assessment

Overview of Materiality Assessment approach

In FY 2023/24, we conducted a comprehensive Double Materiality Assessment (DMA) in accordance with the ESRS IRO-1 requirements. This process identifies the sustainability-related impacts, risks and opportunities that are material to the company and its stakeholders. The assessment considered both impact materiality (inside-out), addressing how our operations affect people and the environment, and financial materiality (outside-in), which considers how sustainability issues could affect the company’s financial position, performance and cash flows. The DMA, covering all fully consolidated operations globally, was approved by the Executive Committee in February 2024 and the Board of Directors in April 2024, and came into effect for FY 24/25.

Scope and boundaries

The assessment covered dormakaba’s entire global value chain. This was consolidated into the four distinct stages described in the value chain section:

1. Raw materials & sourced goods
2. Transportation
3. Production and administration
4. Distribution, use and end-of-life

This structure ensured that both upstream and downstream impacts were adequately captured, and that stakeholder perspectives, input data, and internal risk assessments were considered at each stage.

Impact Materiality Assessment – Methodology and scoring

We applied a robust methodology aligned with ESRS 1, Appendix C, paragraph 54, which requires assessment of sustainability topics based on their severity and likelihood. The starting point was an updated long-list of sustainability topics from our last materiality assessment in 2021, derived from GRI standards and cross-referenced against ESRS requirements. This long-list was reviewed and validated prior to the DMA.

The company evaluated each topic using structured indicators, including over 50 external risk metrics from sources such as the OECD and World Bank, overlaid with internal data (e.g., Procurement, Production, HR, Sales). These were weighted by the share of business activity or geographic presence, adjusted for our specific operations.

The assessment was conducted under a gross impact evaluation approach (e.g., does not consider mitigation, prevention and remediation actions that are already in place), and the Human Rights Due Diligence Saliency Assessment from 2019 was integrated to address topics with significant social impact.

Severity scores were determined by examining the scale, scope, and irremediability of each potential or actual impact. These were rated on a scale of 1 to 4, where 4 represented the most significant impacts. Likelihood of occurrence was assessed via structured workshops and expert judgment and also rated on a 1 to 4 scale, where a score of 4 denoted a 100% certainty, i.e., an actual impact. The final impact score for each topic was calculated by fully weighting severity (100%) and partially weighting likelihood (25%).

In our impact materiality methodology, we placed greater importance on severity over likelihood. This reflects a risk management perspective that emphasizes the intrinsic seriousness of sustainability matters (e.g., forced labor, environmental harm), even if the likelihood of occurrence is lower, in accordance with the ESRS principle of prioritizing the most severe actual or potential impacts. Additionally, this considers potential variation in stakeholder perception or data limitations.

Scores were aggregated across each value chain stage using weighting factors based on operational relevance and data inputs.

Stakeholder engagement from previous years played a critical role in this process and included:

• A global employee survey (n = 1,360) segmented into General Employees, Senior Management, and Sustainability Network.
• 16 stakeholder interviews, including both internal (Executive Committee and Sustainability Council) and external parties (customers, suppliers, investors, civil society).
• Weighting model: internal vs. external (60/40); internal sustainability experts and top management vs. general staff.

Financial Materiality Assessment – Methodology and scoring

To evaluate financial materiality, we conducted an outside-in risk and opportunity assessment that aligns with the enterprise risk management system. The evaluation involved a targeted survey and workshop with 60 global and local representatives across Procurement, Operations, HR, Compliance, Product Development, Product Management and Corporate Sustainability. The latter function incorporated the results of physical and transition climate-related financial risk scenarios (TCFD-aligned) into the assessment. External experts also conducted an independent review of ESG frameworks, peer benchmarks, and sustainability trends.

Topics were evaluated based on their likelihood of occurrence and potential financial impact, both rated on a scale of 1 to 4.

Scores were calculated separately for risks and opportunities and then consolidated into a final financial materiality score. Internal stakeholder feedback contributed 60% of the weighting, while expert analysis contributed 40%. This dual-source approach ensured robustness and relevance to both internal priorities and external expectations.

Threshold Setting and Materiality Matrix

After calculating the scores for each sustainability topic, dormakaba plotted them on a two-axis materiality matrix. The x-axis reflected impact materiality scores and the y-axis represented financial materiality scores. Two options for threshold setting were discussed with the Group Sustainability Council: Option 1, a focused approach capturing the top 40% of scores, and Option 2, a more inclusive threshold capturing the top 50%. The Executive Committee selected the focused threshold based on the Councilʼs recommendation, reflecting a strategic intent to focus on the most significant issues. Additionally, Diversity and Training and Education were retained due to their strategic relevance, despite falling below the numerical threshold.

The Board of Directors subsequently approved the same.

Final list of material topics

Materiality Matrix

Compared to our previous materiality assessment, Forced Labor and Marketing & Labeling have become new material topics.

Strategic integration

The results of the DMA directly inform dormakaba’s corporate strategy, Shape4Growth, specifically under the Customer Centricity pillar. Material sustainability topics are embedded in the Sustainability Framework and targets, and inform investment priorities, supply chain management, and risk oversight. For instance, climate-related risks identified through TCFD-aligned analysis influence both capital planning and product innovation, while human rights issues are embedded into auditing and sourcing processes (e.g., contracts and assessments). These topics are also reflected in our governance structure, which includes Board-level oversight and execution by the Group Sustainability Council and operational teams.

Improvement opportunities for future DMAs

Thee DMA process is well-developed and largely compliant with IRO-1, but it was developed before EFRAG published their Materiality Assessment Implementation Guidance. Therefore, some improvement opportunities have been identified, such as:

• Better documentation and transparent explanation of how stakeholders were identified and selected, and inclusion of external stakeholders in the financial materiality assessment
• Better clarity on the threshold-setting rationale and how this supports stakeholder relevance or the company’s risk appetite
• While material topics are integrated into strategy and targets, time horizons (short-, medium-, long-term) for materiality impacts are not yet explicitly defined
• Identification of how topics are interlinked or may amplify each other

These areas of improvement will be taken into account in the development of the next double materiality assessment planned for FY 26/27, and pending ongoing revisions of the ESRS.

Stakeholder Engagement and Partnerships

dormakaba attaches great importance to regular contact and ongoing dialogue with our stakeholders at both local and global levels. We consider the close involvement of our stakeholders to be an asset in our ongoing efforts and therefore aim to build better mutual understanding based on trust to enhance our partnerships and collaboration.

We have established several formal and informal mechanisms to ensure that members of our Executive Committee and Board of Directors are regularly informed about the views, concerns, and interests of affected stakeholders with respect to sustainability-related impacts. These mechanisms are integrated into existing governance structures and are designed to ensure that stakeholder feedback informs strategic decision-making and risk management. Specifically:

• Employee Feedback: The company conducts anonymous employee surveys on a biannual basis to collect feedback on working conditions, diversity, equity and inclusion, and other sustainability-related topics. The aggregated results are reviewed by the Executive Committee and improvement plans are defined.
• Employee Representation: In jurisdictions such as Germany, works council representatives participate in supervisory board meetings and bring stakeholder perspectives directly in to governance discussions.
• Investor and Market Engagement: The Chairman of the Board and the Group Sustainability Officer participate in regular Governance Roadshows with investors and proxy advisors. These sessions are designed both to gather input on ESG-related expectations and to provide transparency on the company’s actions and progress.
• Customer-Centric Product Development: The Head of Product Sustainability joins key customer meetings along with the commercial and innovation teams. A representative from the Executive Committee also participates in discussions that address product-specific environmental concerns. These interactions provide a direct line of feedback from customers on sustainability-related product expectations.
• Sustainability Governance: The CEO chairs the Group Sustainability Council, which convenes twice per year. During these meetings, the sustainability team presents synthesized stakeholder insights derived from NGO consultations, supplier sustainability audits, and external expert panels. These include findings from worker sentiment surveys conducted during social audits.

These channels allow the company to systematically collect and elevate stakeholder perspectives to the highest levels of governance, ensuring that sustainability-related impacts are continuously monitored and addressed in alignment with stakeholder interests.

Examples of stakeholder engagement in FY 24/25 include:

Partnerships

External acknowledgments

We have been awarded a gold medal for our sustainability management by the assessment firm EcoVadis, advancing our position to the top 2% of all assessed companies. We have improved our performance in all four assessed categories: environment, labor and human rights, ethics, and sustainable procurement.

We received a B score from the Carbon Disclosure Project (CDP) both for our climate-related and water management efforts. This is in the Management band and matches the European regional average.

We were recognized on the CDP Supplier Engagement A List for 2024, highlighting our leadership in engaging with suppliers on climate change and environmental action. This distinction reflects our commitment to transparency, collaboration, and sustainable practices throughout our value chain.

We maintained our “Prime Status” as awarded by the Institutional Shareholder Services (ISS) Environmental, Social and Governance (ESG) Corporate Rating. The ESG Corporate Rating assesses companies based on an analysis of more than 100 sector-specific ESG factors. Companies that receive particularly high scores within their respective industry are awarded a Prime Status distinction. This means that they fulfill ambitious absolute performance requirements.

In 2025 our MSCI rating remained unchanged at AA, maintaining our position among the leaders in our industry. The MSCI ESG Rating aims to measure a company’s management of financially relevant ESG risks and opportunities.

In 2025 dormakaba has once again been named as one of Europe’s Climate Leaders by the Financial Times and Statista. We are among the 600 European companies that are moving the fastest on decarbonization alongside financial growth.