Financial Information 2025

Closing the chapter on our 2021 strategy – new strategy to be launched in May

The Group’s Growth Strategy, launched in 2021 and further built upon over the strategy period, has come to an end. The strategy was introduced at a time when pandemic-driven stay-at-home trends supported our business. With the market reversing shortly after, the strategy’s resilience was heavily tested throughout the 4-year period. Hence, we did not reach our long-term net sales growth and EBIT margin targets.

During the strategy period, we transitioned from a centralized matrix structure toward operationally independent Business Areas to improve flexibility and speed of execution. We are now on the final leg of that process with the Business Areas becoming separate legal subgroups under holding company Fiskars Corporation. This is advancing according to plan, and it is expected that the separation into individual legal entities will be finalized by the end of the first quarter of 2026. This step also enables increasing transparency and measurability at the Business Area level. We are planning to launch the next phase of the Group strategy and new financial targets in connection with our Capital Markets Day, scheduled for May 12, 2026.

Looking ahead

It is evident that our profit fell short of where it ought to be in 2025. While we are not expecting any immediate turnaround in the demand environment in 2026, we are implementing determined measures to strengthen our performance in 2026. These measures include planned changes in Business Area Vita to turn around its financial performance and lay foundations for profitable growth.

I started as the President and CEO of Fiskars Group in 2025. This is an iconic company with world- class brands and strong expertise. I am honored to continue working with our teams to develop our company on its change journey. I would like to thank our employees for their resilience, and our customers and partners for their commitment during what was another dynamic year.

Jyri Luomakosk i President & CEO

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Contents

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Risk category

Risk name

Risk description

Risk mitigation actions

Risk trend 1

Strategic risks

Organizational changes

In 2024, Fiskars Group announced plans to separate its two Business Areas, Vita and Fiskars, into operationally independent subsidiaries. The two Business Areas have operated independently since 2025, with their own CEOs. In the final phase of the transformation process, the Business Areas will become separate legal subgroups under the holding company, Fiskars Corporation. It is expected that the separation into individual legal entities will be finalized by the end of the first quarter of 2026.

Despite thorough planning, the separation of Business Areas into operationally independent companies may introduce risks. These include potential delays in project timelines, unforeseen cost increases, and challenges in implementing legal entity structures and necessary IT system changes. Additionally, the transition may lead to concerns among personnel, potentially impacting employee retention and causing a loss of critical talent during the change process. If not managed effectively, these risks may impact the successful execution of the separation or strategy implementation.

To mitigate the risks associated with the separation of business operations, the Group prioritizes the change process across the entire company. A dedicated Project Management Office (PMO) leads the change process, supported by necessary resources to ensure the project’s success. Comprehensive and detailed execution plans are implemented to guide the process.

To maintain control and ensure timely progress, the company is implementing a strict execution cadence, with systematic monitoring across workstreams. This ensures that the project stays aligned with established timelines, and possible issues are addressed promptly.

A steering committee, including key Group executives, ensures progress and strategic alignment throughout the transition.

Operational risks

IT systems and cybersecurity

Fiskars Group increasingly depends on centralized information technology systems and suppliers that hold and process critical business information. Breaches, malfunctions, cyberattacks and fraud attempts directed at Fiskars Group or its suppliers may cause interruptions to the company’s operations at a regional or global level. Such an interruption may have a material adverse effect on the net sales, profit and reputation of the Group.

Risks related to major IT projects, such as conflicting or missing data, budget overspend, and project delays may affect business negatively. Operating against IT best practices such as following poor lifecycle management may leave systems vulnerable and compromise security. This risk applies both to the Group’s own and suppliers’ or other third parties’ IT environment.

Fiskars Group continuously mitigates IT-related risks by deploying high- quality IT solutions and maintaining, developing and testing their function and integrity in accordance with internal IT control framework and industry best practices. Critical service and technology providers are required to have continuity and recovery plans for their services in the event of disruptions. Changes to new and existing IT systems are made in accordance with standard processes and procedures.

Fiskars Group’s information and cybersecurity governance works to integrate risks into corporate decision-making. Security posture and capabilities are ensured with various security technologies, including network, endpoint, and cloud detection and response, firewalls, threat intelligence, and security operations. The security awareness program develops and promotes a cybersecurity and data privacy mindset in all the Group’s employees.

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Risk trend 1

Operational risks

Environment and climate change

The impact of climate change and loss of biodiversity on well- functioning ecosystems, temperatures and sea levels may cause unforeseen challenges to Fiskars Group. Regulations aiming to decrease dependence on fossil fuels and reduce emissions, including the introduction of new tax policies, may raise energy prices and other associated costs. As regulations become stricter, and public awareness and expectations grow, past measures to reduce the environmental impact may prove insufficient. The increasing frequency of natural catastrophes such as floods and typhoons and loss of biodiversity may interrupt and impact the operations of Fiskars Group.

Water and resource scarcity related to exhaustible fossil materials are increasing long-term global challenges, leading to increased materials costs and the risk of production interruptions. Currently, the challenge is the limited availability and higher prices of raw materials such as certified wood materials, biobased plastics and recycled raw materials.

Fiskars Group is constantly increasing its sustainability efforts and aims to minimize environmental risks through systematic risk management. Fiskars Group is committed to promoting the circular economy, combating climate change by taking actions to reduce emissions, reducing the use of energy and promoting renewable energy sources. One example of Fiskars Group’s commitment to sustainable business is the issuance of the sustainability-linked bond framework in 2023, with the aim of aligning the company’s long-term financing strategy with its sustainability targets.

Multiple source contracts and ongoing research on alternative materials are utilized to manage price, availability and regulatory risks.

The financial implications of business interruptions caused by natural hazards are mitigated by insurance.

Seasonality and weather

Demand for Fiskars Group’s products across categories may be influenced by both seasonal variations and weather conditions.

For Business Area Fiskars, the first half of the year is important for the gardening category. Demand for garden tools may be significantly influenced by weather conditions. Unfavorable weather, i.e., a cold and rainy spring, may negatively impact the sales of these products, while favorable conditions may boost their sales. In the winter months, a snowless winter may negatively impact sales of snow tools and vice versa. The back-to-school season during the second and third quarters of the year is also important for the scissors category in Business Area Fiskars.

For Business Area Vita, the second half, particularly the fourth quarter, is the most important time of the year due to the holiday season.

Any negative developments related to product availability, demand, or increased costs in manufacturing or logistics impacting the important seasons may significantly affect the Group’s full-year net sales and profit. The seasonality of demand may differ from a typical year if market conditions are volatile. Extreme weather conditions such as storms and wildfires are expected to increase in the future due to climate change and may also have a local impact on business operations.

Fiskars Group mitigates the impact of seasonality and changing weather conditions through a combination of an extensive and diverse product portfolio and a broad geographical footprint. This diversification ensures that fluctuations in demand or supply in specific regions or product categories are balanced by stability in others.

The Group may maintain safety stocks against possible supply chain disruptions to provide a critical buffer to sustain operations and meet customer demand. Additionally, reliance on multisource contracts reduces dependence on any single supplier, thereby minimizing exposure to risks related to price volatility, material shortages or regional disruptions.

The financial implications of property damage and business interruptions resulting from natural hazards are further mitigated through comprehensive insurance cover. This ensures that the Group can recover swiftly from unforeseen events, protecting its operational continuity and financial stability.

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Operational risks

People

People are Fiskars Group’s most valuable asset and are key to strategy execution. Achieving strategic objectives relies on having the right individuals in the right roles. Risks such as an uncompetitive employer brand, insufficient efforts to foster an inspiring work environment or the inability to ensure the workforce has the necessary skills and capabilities may undermine the Group’s ability to attract and retain skilled professionals. Beyond talent retention, a lack of critical skills may impede the execution of strategic initiatives, delay the achievement of key objectives, and limit the Group’s ability to innovate and adapt to evolving market conditions. This may lead to operational inefficiencies and increased costs, resulting in the loss of competencies, the departure of key employees and reduced workforce engagement.

The evolving demands of modern working life, if not adequately addressed, risk reducing employee engagement, increasing absenteeism and turnover, and threatening the company’s strategy execution. Additionally, occupational health and safety risks threaten employee wellbeing and business continuity, with potential reputational and financial repercussions.

Fiskars Group actively promotes employee engagement by providing opportunities for professional growth, skills development and leadership training for people managers, while fostering a diverse and inclusive culture.

To monitor engagement and wellbeing, regular “Our Voice” employee surveys are conducted. Employee commitment has been further strengthened through “MyFiskars,” a voluntary employee share savings plan, which rewards participants with one free matching share for every two shares acquired, provided they remain employed at Fiskars Group and retain their acquired shares until the end of the plan period.

The Group is also committed to achieving its Group-level target of zero lost time accidents (LTAs). To support this goal, multiple measures are implemented, including risk assessment workshops and LTA review boards, to proactively and effectively identify and mitigate workplace safety risks.

Sustainable business practices

As consumer expectations of sustainable performance continue to rise, failing to meet these standards, or insufficient transparency in the supply chain or suppliers’ actions, may harm the Group’s brand reputation.

Issues such as biodiversity loss or unethical labor practices are under increasing scrutiny from consumers, regulators, investors and other stakeholders. Any perceived shortcomings in these areas risk eroding consumer trust and loyalty, potentially resulting in decreased net sales and damaging the company’s appeal to investors.

Furthermore, a well-managed sustainability agenda creates competitive advantages and opportunities, reduces risks, and addresses societal challenges by creating innovative solutions, as well as helping the company attract and engage the best talent.

Sustainability is a strategic growth enabler for the company, and the company has set tangible sustainability targets and linked them to decision-making. Beyond posing a risk, sustainability represents an opportunity for Fiskars Group to further strengthen the reputation and consumer desire of its brands. More comprehensive information about the Group’s sustainability work and results can be found in the 2025 Sustainability Statement and Corporate Governance Statement, published as part of this Annual Report.

Fiskars Group strives to build strong and long-term relationships with trusted suppliers that live up to the Group’s corporate values. All suppliers and business partners must comply with the Supplier Code of Conduct, which outlines non-negotiable minimum standards on topics such as health and safety, environmental protection, and human and labor rights. Suppliers are instructed to adopt similar requirements for their suppliers and to monitor their supply chains. The Group conducts assessments of its finished goods suppliers. For raw material and component suppliers, as well as out-licensing partners, the Group uses third-party audit services to complement internal assessments.

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Operational risks

Acquisitions

While organic growth remains key for Fiskars Group, the company may also grow through targeted acquisitions.

All acquisitions and integrations of acquired businesses include risks. Acquired businesses may not perform as expected, key individuals may decide to leave the company, the costs of integration may exceed expectations, and synergy effects may be lower than expected.

Employee uncertainty during the integration process may arise, as the need to harmonize disparities in company cultures, ways of working, processes, tools and practices requires careful consideration. This transitional phase may lead to frustration and disengagement, impacting overall performance.

Fiskars Group follows an acquisition strategy characterized by a systematic and disciplined approach to identifying potential targets. The strategy ensures that only those targets that are closely aligned with the Group’s objectives and business goals are considered for acquisition.

In the acquisition due diligence process, Fiskars Group conducts a thorough investigation of the target company’s business, market, financial, operational, legal and regulatory aspects. This is a crucial step in evaluating the value and potential of the target company, and enhancing the likelihood of a successful acquisition. In this phase of the acquisition, Fiskars Group formulates an integration pre-plan, outlining the key steps required for successful integration and synergy realization post-acquisition. The post-acquisition integration program features multiple streams, each with detailed action plans and assigned responsible people to ensure a structured and coordinated approach to successful integration.

Product safety and liability

Fiskars Group is committed to offering high-quality and functional products that are safe to use and fit for purpose.

As a manufacturer and seller of an extensive portfolio, including sharp cutting tools, food contact items and children’s products with a broad distribution, there is a risk that the Group’s products and packaging will fail to meet or will not comply with safety, quality and legal requirements, causing a possible halt to deliveries or a product recall, reputational loss, indemnities, and lost sales.

Fiskars Group seeks to ensure all its products meet the pre-set high standards for quality, compliance and product safety. The product development process at Fiskars Group is based on continuous testing and learning, and the Group has invested in product development and quality assurance resources to mitigate against any potential product safety concerns at an early stage of product development. Comprehensive insurance cover and a product recall policy are in place to mitigate the financial impact of a recall and to precipitate the process of recalling potentially harmful products from the markets.

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Compliance risks

Legal and regulatory compliance

As a global company with operations in multiple countries, the changing legal and regulatory environment, both regional and supraregional, may expose Fiskars Group to compliance and litigation risks regarding corruption or export controls, among other risks. Furthermore, environmental, social and governance (ESG) -related legislation and regulations are increasing and may affect the Group’s own operations, supply chain management, and choices regarding product materials and manufacturing techniques, for example. Non-compliance with anti-trust/ fair competition laws may result from someone in the Group or any of its agents failing to comply with anti-trust/competition laws and engaging in conduct that would distort a free and competitive market, e.g., through pricing, anti-competitive agreements or abuse of a dominant position. If the Group is not predictive in identifying changes in laws and regulations and fails to implement necessary compliance programs consistently in its business operations, this may cause financial or reputational damage, and exposure to criminal liability.

Fiskars Group registers, processes, stores and uses personal data in the course of its business operations, specifically regarding personal data related to consumers. There are increasing regulatory requirements for data protection, as well as accelerating changes in technology, and heightened consumer and public expectations. If the Group fails to fulfill its control obligations or processes, or to prevent or detect unauthorized access to personal information causing a violation of the GDPR or another applicable law or leakage of personal data, this may result in reputational damage and/or fines.

Fiskars Group is committed to ethical and responsible business practices, including respect for human rights and maintaining a strong emphasis on compliance. To enhance legal and regulatory compliance, Fiskars Group has implemented various compliance programs, policies and processes. There is a mandatory Code of Conduct training program for all employees and other mandatory training such as anti-trust training for targeted employee groups. All finished goods suppliers need to comply with Fiskars Group’s Supplier Code of Conduct requirements. Fiskars Group has established a cross-functional body to lead and govern its privacy- and cybersecurity-related policies, processes and practices.

To ensure accountability, a whistleblowing channel allows anonymous reporting of any misconduct, with the Group committed to taking swift corrective action when necessary.

Intellectual property rights

Fiskars Group’s strong and well-known brands are exposed to infringement of intellectual property rights (IPR). There is a risk that the Group, its agents or suppliers may be harmed by employees, agents or third parties using company trade secrets or intellectual property to the Group’s detriment. Counterfeit products may present quality and safety risks to consumers and damage consumer confidence in the Group’s products. Fiskars Group is also exposed to the risk of unintentionally violating other parties’ intellectual property rights. Infringement of IPRs may lead to a loss of net sales and profit.

Potential IPR infringements are monitored through cross-functional processes, and online monitoring and systems. Fiskars Group has an enforcement policy in place that governs the enforcement actions that are taken to protect the exclusivity of Fiskars Group’s IPRs. Fiskars Group has a good understanding of the competitive landscape and provides its employees with training in IPRs.

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Financial risks

Currency rates

With a significant part of the business in the United States and in other countries outside the eurozone, Fiskars Group is exposed to fluctuations in foreign currency rates. A change in the exchange rate may have a material impact on the reported financial figures. A change in the exchange rate may also negatively impact the local competitiveness of a Fiskars Group company. The most significant transaction risks are related to the appreciation of USD, PLN and DKK, and the depreciation of SEK, NOK and JPY. The most significant translation risks are related to the depreciation of USD.

Currency risks related to commercial cash flows are first managed by offsetting cash flows denominated in the same foreign currency. Purchases of production inputs and the sales of products are primarily denominated in the local currencies of the Fiskars Group companies. The remaining net exports or imports in foreign currencies are hedged up to 15 months in advance, using currency forwards and swaps.

Tax and customs compliance

The regulatory environment within the tax and customs area is increasingly complex and rapidly changing. In particular, new regulations may include ambiguities. This may expose Fiskars Group to tax- and customs-related risks, leading to additional tax obligations and changes in tax or import duty liabilities, and may cause loss of profit and a negative reputational impact.

Fiskars Group closely monitors changes in tax and customs regulations and international agreements to proactively manage risks related to taxes and duties. Processes and controls are actively developed and maintained to ensure compliance with any local and international requirements. Fiskars Group promotes an open dialog with the tax and customs authorities, and may seek advance rulings and other advance processes where necessary to secure its tax positions and customs compliance.

Financial investments

The financial investment portfolio of Fiskars Group consists mainly of investments in unlisted private equity funds. The value of the investments is exposed to fluctuations in the financial markets, including changes in interest rates and foreign exchange rates, and increases in credit risk. Financial investments are treated at fair value through profit or loss.

The foreign exchange risk is hedged up to 15 months in advance, using currency forwards and swaps.

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company at the end of the financial period 2025, the distributable equity of the parent company was EUR 708.6 million (2024: EUR 790.5 million).

The Board of Directors proposes to the Annual General Meeting that a dividend of EUR 0.84 per share be paid for the financial period that ended on December 31, 2025. The dividend is proposed to be paid in four instalments as follows:

The first instalment of EUR 0.21 per share shall be paid to a shareholder who is registered in the shareholders’ register of the company maintained by Euroclear Finland Oy on the dividend record date March 13, 2026. The payment date proposed by the Board of Directors for this instalment is March 20, 2026.

The second instalment of EUR 0.21 per share shall be paid to a shareholder who is registered in the shareholders’ register of the company maintained by Euroclear Finland Oy on the dividend record date, which, together with the payment date, shall be decided by the Board of Directors in its meeting scheduled for June 2, 2026. The preliminary record date for the second instalment is June 4, 2026 and the dividend payment date June 11, 2026, at the latest.

The third instalment of EUR 0.21 per share shall be paid to a shareholder who is registered in the shareholders’ register of the company maintained by Euroclear Finland Oy on the dividend record

date, which, together with the payment date, shall be decided by the Board of Directors in its meeting scheduled for September 9, 2026. The preliminary record date for the third instalment is September 11, 2026 and the dividend payment date September 18, 2026, at the latest.

The fourth instalment of EUR 0.21 per share shall be paid to a shareholder who is registered in the shareholders’ register of the company maintained by Euroclear Finland Oy on the dividend record date, which, together with the payment date, shall be decided by the Board of Directors in its meeting scheduled for December 3, 2026. The preliminary record date for the fourth instalment is December 7, 2026 and the dividend payment date December 14, 2026, at the latest.

The Board proposes that it be authorized to decide, if necessary, on new dividend record dates and payment dates for the second, third and/or fourth instalments, if the rules and statues of the Finnish book-entry system change or otherwise so require, or if the payment of dividends is prevented by laws or regulations applied.

On the date of the financial statement release, the number of shares entitling their holders to a dividend was 80,622,145. The proposed distribution of dividends would thus be EUR 67.7 million (2024: EUR 67.9 million). This would leave EUR 640.9 million (2024: EUR 722.6 million) of distributable earnings in the parent company.

No material changes have taken place in the financial position of the company since the end of the financial period. The financial standing of the company is good and, according to the Board of Directors’ assessment, distributing the proposed dividend will not compromise the company’s solvency.

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ESRS E1 Climate change

Disclosure requirement

Section

ESRS 2, GOV-3

Integration of sustainability- related performance in incentive schemes

E1-1

Transition plan for climate change mitigation

ESRS 2, SBM-3

Material impacts, risks and opportunities, and their interaction with strategy and business model

ESRS 2, IRO-1

Description of the processes to identify and assess material climate-related impacts, risks and opportunities

E1-2

Policies related to climate change mitigation and adaptation

E1-3

Actions and resources in relation to climate change policies

E1-4

Targets related to climate change mitigation and adaptation

E1-5

Energy consumption and mix

E1-6

Gross Scopes 1, 2, 3 and Total GHG emissions

E1-7

GHG removals and GHG mitigation projects financed through carbon credits

ESRS E1: Actions (Section is mainly omitted due to Fiskars Group not utilising carbon removals or credits)

ESRS E4 Biodiversity and ecosystems

Disclosure requirement

Section

E4-1

Transition plan and consideration of biodiversity and ecosystems in strategy and business model

ESRS 2, SBM-3

Material impacts, risks and opportunities and their interaction with strategy and business model

ESRS 2, IRO-1

Description of processes to identify and assess material biodiversity and ecosystem-related impacts, risks, dependencies and opportunities

E4-2

Policies related to biodiversity and ecosystems

E4-3

Actions and resources related to biodiversity and ecosystems

E4-4

Targets related to biodiversity and ecosystems

E4-5

Impact metrics related to biodiversity and ecosystems change

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ESRS E5 Resource use and circular economy

Disclosure requirement

Section

ESRS 2, IRO-1

Description of the processes to identify and assess material resource use and circular economy-related impacts, risks and opportunities

E5-1

Policies related to resource use and circular economy

E5-2

Actions and resources related to resource use and circular economy

E5-3

Targets related to resource use and circular economy

E5-4

Resource inflows

E5-5

Resource outflows

ESRS S1 Own workforce

Disclosure requirement

Section

ESRS 2, SBM-2

Interests and views of stakeholders

ESRS 2 SBM-3

Material impacts, risks and opportunities and their interaction with strategy and business model

S1-1

Policies related to own workforce

S1-2

Processes for engaging with own workers and workers’ representatives about impacts

S1-3

Processes to remediate negative impacts and channels for own workers to raise concerns

S1-4

Taking action on material impacts on own workforce, and approaches to mitigating material risks and pursuing material opportunities related to own workforce, and effectiveness of those actions

S1-5

Targets related to managing material negative impacts, advancing positive impacts, and managing material risks and opportunities

S1-6

Characteristics of the undertaking’s employees

S1-9

Diversity metrics

S1-10

Adequate wages

S1-14

Health and safety metrics

S1-16

Compensation metrics (pay gap and total compensation)

S1-17

Incidents, complaints and severe human rights impacts

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ESRS S2 Workers in the value chain

Disclosure requirement

Section

ESRS 2, SBM-2

Interests and views of stakeholders

ESRS 2, SBM-3

Material impacts, risks and opportunities and their interaction with strategy and business model

S2-1

Policies related to value chain workers

S2-2

Processes for engaging with value chain workers about impacts

S2-3

Processes to remediate negative impacts and channels for value chain workers to raise concerns

S2-4

Taking action on material impacts on value chain workers, and approaches to managing material risks and pursuing material opportunities related to value chain workers, and effectiveness of those actions

S2-5

Targets related to managing material negative impacts, advancing positive impacts, and managing material risks and opportunities

ESRS S4 Consumers and end-users

Disclosure requirement

Section

ESRS 2, SBM-2

Interests and views of stakeholders

ESRS 2, SBM-3

Material impacts, risks and opportunities and their interaction with strategy and business model

S4-1

Policies related to consumers and end-users

S4-2

Processes for engaging with consumers and end-users about impacts

S4-3

Processes to remediate negative impacts and channels for consumers and end-users to raise concerns

S4-4

Taking action on material impacts on consumers and end-users, and approaches to managing material risks and pursuing material opportunities related to consumers and end-users, and effectiveness of those actions

S4-5

Targets related to managing material negative impacts, advancing positive impacts, and managing material risks and opportunities

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ESRS G1 Business conduct

Disclosure requirement

Section

ESRS 2, GOV-1

The role of the administrative, supervisory and management bodies

ESRS 2, IRO-1

Description of the processes to identify and assess material impacts, risks and opportunities

G1-1

Corporate culture and business conduct policies and corporate culture

G1-2

Management of relationships with suppliers

G1-3

Prevention and detection of corruption and bribery

G1-4

Confirmed incidents of corruption or bribery

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sustainability statement

General Meetings. The Board of Directors has approved the principles of internal control, risk management, and internal auditing to be followed within the Company. In practice, it is the responsibility of the President and CEO, together with the Fiskars Group Leadership Team (FGLT) and other management, to put in place and oversee accounting and control mechanisms and other similar mechanisms. The Risk Management function supports the identification, assessment, management, and monitoring of risks that may compromise the achievement of Fiskars Group’s business goals.

Governance of sustainability matters

The ESG strategy, approved by the Board of Directors, is closely linked to the Company’s business and purpose: Pioneering design to make the everyday extraordinary. ESG factors are linked to Fiskars Group’s decision- making process, and this is supported by a governance model to ensure clear responsibilities and to focus on how sustainability is managed throughout the Company.

The Company’s Board of Directors and Audit Committee possess expertise in ESG matters through both experience and education. Additionally, in line with the Company’s internal ESG governance model, the ESG Strategy team, led by the EVP, Group Operations and Sustainability, regularly reports on progress toward objectives and is available as required, providing access to expertise to oversee sustainability matters. The Audit Committee also receives regular updates, led by the CFO, from internal and external parties regarding Corporate Sustainability Reporting Directive (CSRD) and other relevant topics.

The Board of Directors (Board) and Audit Committee approve and review the ESG and sustainability ambition level, commitments, and targets annually. The Board also follows up on progress toward Fiskars Group’s commitments and targets on a quarterly basis. The Audit Committee has an advisory role regarding ESG strategy and management at Fiskars Group, reviews the progress of the strategy and actions to meet sustainability requirements, and proposes items to the Board for approval.

The Fiskars Group Leadership Team approves and reviews the ESG and sustainability approach, commitments, roadmaps, and targets. The FGLT ensures the integration of ESG and sustainability into the Company’s overall strategy and owns the targets. Progress and the execution of the commitments and targets are followed up on as part of the regular monthly agenda. EVP, Group Operations and Sustainability has the overall responsibility for driving the sustainability agenda in the FGLT. The Chief Financial Officer (CFO) holds ultimate accountability for the integrity and reliability of the reporting process, ensuring that disclosures under the CSRD meet the same standards of accuracy, transparency, and assurance as financial statements.

The ESG Steering Team evaluates how sustainability targets support BA long-term business goals, growth and opportunities, risk mitigation, brand and market positioning, and BA-level stakeholder expectations. The Steering Team assesses how Company ESG targets are embedded in New Product Development process (NPD) and sets BA-level targets and governance. The team

Board of Directors

Audit Committee

Fiskars Group Leadership Team

ESG Steering Team

Group ESG Strategy Team

Fiskars and Vita QEHS

consists of representatives of the BA’s Sourcing and Product and Business Development Teams.

The Group ESG Strategy Team provides central expertise and capabilities on sustainability: formulating and driving forward the ESG strategy; spotting trends; following regulatory updates; and creating commitment for sustainability within Fiskars Group. The team supports Business Areas (BAs) setting BA-level ESG targets and KPIs, and supports the organization overall in reaching the ambition level, commitments, and targets set by the Board and FGLT. The team also collects and consolidates data from BAs and group functions for overall progress reporting.

Business Areas and Group Functions integrate the commitments and targets into their operations and respective business and investments plans. BAs and group functions are responsible for setting their own sub-targets to support achieving the higher-level Group targets. BAs and group functions follow up on their own progress toward commitments, targets, and roadmaps.

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as consumers directly through its own stores and ecommerce. Fiskars Group combines its own manufacturing operations with those of its carefully selected suppliers. Fiskars Group has 13 of its own manufacturing units in Europe, Asia and the U.S. The Group has a diverse team of approximately 6,600 employees based in 29 countries.

Fiskars Group consists of two operationally independent business areas: Business Area Vita and Business Area Fiskars. In 2025, Business Area Vita accounted for approximately 54%, and Fiskars 46%, of net sales. The Business Areas have full accountability for their global offering, enabling them to leverage the full potential of their strong brands. Both Business Areas have strong, yet BA specific, business drivers.

Business Area Vita

Recognized for creative design, Business Area Vita consists of brands such as Georg Jensen, Royal Copenhagen, Wedgwood, Moomin Arabia, Iittala and Waterford. It offers high-end products for the tableware, drinkware, jewelry and interior categories. Georg Jensen’s jewelry is certified by the Responsible Jewellery Council, and the brand utilizes recycled gold and silver. Since the beginning of 2025, all Georg Jensen silver jewelry pieces are made with 100% recycled silver. The brand has already been manufacturing all its gold jewelry from recycled gold since 2023. Furthermore, during the second half of 2025 Moomin Arabia launched its new Living Room collection, which features home décor items made partly from recirculated ceramics. The collection also includes textiles made from GOTS certified 100%

organic cotton. Europe is the largest geographical segment for BA Vita, with with 55% net sales coming from the region, followed by Asia-Pacific with 35% and the Americas with 10%.

Business Area Vita’s sales were derived roughly equally from direct-to-consumer and wholesale channels, representing 53% and 47%, respectively, in 2025. All of Fiskars Group’s approximately 500 own physical stores around the world are BA Vita brands stores. In 2025, Business Area Vita’s supply base consisted of approximately 60% of its own manufacturing and 40% of finished goods supplier. The Business Area operated nine of its own manufacturing units in Europe and Asia-Pacific.

Business Area Fiskars

The innovation-driven Business Area Fiskars’ brands include Fiskars and Gerber. It consists of the gardening and outdoor categories in addition to the scissors and creating, as well as cooking categories. The sixth generation of the Fiskars Classic scissors launched during the second quarter of 2025 is an example of a product prioritizing longevity. These scissors are built to last, can be maintained with a sharpener, and come with a 25-year warranty—or a lifetime warranty in the U.S. Furthermore, they are made with 92% recycled steel. Fiskars utilizes recycled and renewable materials wherever feasible, and designs products with repairability options in mind. The Americas is the largest geographical segment for BA Fiskars, with 52% of net sales coming from the region, followed by Europe with 45% and Asia-Pacific with 3%. The U.S. is clearly the largest single market for the BA.

Wholesale is the primary channel for Business Area Fiskars, accounting for more than 90% of the BA’s sales in 2025. Close collaboration with key retailer customers is therefore strategically important to BA Fiskars. In 2025, Business Area Fiskars’ supply base consisted of approximately 60% of finished goods suppliers and 40% of its own manufacturing. The Business Area operated four of its own manufacturing units in Europe and the U.S.

Fiskars Group has a diverse team of employees. The Company recognizes the importance of its people in contributing to its success and continually invests in opportunities for employees to learn and grow. The Company promotes employee engagement by creating an open and inclusive working environment where everyone can make a meaningful contribution and feel that they belong.

Fiskars Group combines its own manufacturing operations with those of its carefully selected suppliers. Fiskars Group’s manufacturing units are located in Europe, Asia, and the U.S. The Company has built a strong supplier network that meets its business needs, as well as its values and social and environmental expectations, including finished goods, raw materials, components, and service suppliers (upstream value chain).

Fiskars Group’s business and value creation model is further disclosed in the attached image. Fiskars Group’s business model can also be found in the other section of the Report of the Board of Directors, under Business model and strategy .

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Business model and value creation

Input

Financial capital

Cash and equity to invest

People and culture

Talent retention and people development. 6,594 employees in 29 countries.

Raw materials

Renewable, non-renewable, recycled and recirculated materials for products

Energy

Fuels 128,702 MwH

Purchased energy 70,761 MwH

Suppliers and partners

Approximately 140 finished goods suppliers

Design, Innovation, IPR

R&D EUR 22.9 million

Upstream activities

Fiskars Group

Established in Fiskars Village, Finland in 1649

Strategy and values

Fiskars Group is the global home of design-driven brands for indoor and outdoor living.

Brands are present in more than 100 countries in Asia-Pacific, Europe and the Americas.

Shared values: creating change, celebrating the everyday, growing with compassion

Sales

With approximately 500 own physical stores and approximately 60 e-commerce sites, direct-to-consumer generates 30% of the Group’s net sales.

Indirect sales generate 70% of the Group’s net sales.

13 own manufacturing units

Destinations & forests

Fiskars Group has 14,000 hectares of sustainably managed forests, and operates destinations such as Fiskars Village and House of Waterford.

Own operations

Output

Economic value

Net sales EUR 1,140.2 million

Products and services

Key categories provided: tableware, drinkware, interior, jewelry, gardening, outdoor, cooking and scissors & creating.

Largest countries by sales: United States, Denmark, Finland, Sweden and Japan.

27% of net sales from circular products and services.

Emissions to air

Scope 1 and 2: 33,362 tCO 2 eq

Scope 3: 138,886 tCO 2 eq

Waste

553t to landfill

7,110t recycled

-86% compared to 2017

Supplier audits

92 sustainability audits conducted on own suppliers

Downstream activities

Value created

Shareholders

Comparable EBIT EUR 76.4 million

Board's proposal of cash dividends: EUR 0.84 per share

Employee wages, benefits, and career paths

EUR 288 million

Income taxes

EUR 2.9 million

Pioneering design to make the everyday extraordinary

Carbon neutral future

Targeting net-zero emissions by 2049.

Scope 1 and 2 emissions reduced by 62% compared to 2017.

Corporate community engagement

EUR 0.1 million invested (Group)

Supplier engagement

72% of suppliers by spend, covering raw materials, components, and finished goods, have set science- based targets

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Strategy

Fiskars Group’s Growth Strategy, launched in 2021, aimed to set the foundation for future long-term growth by shifting the company toward a brand- driven model with clear focus areas. The strategy was further refined in 2023 with a sharpened portfolio logic and simplified way of operating built around two Business Areas.

The Strategy was structured around four transformation levers - commercial excellence; direct to consumer; the U.S.; and China. Focus on these transformation levers contributed to, for example, a significantly improved gross margin and a higher share of direct-to-consumer sales. Fiskars Group had four financial targets during the strategy period. Advancement toward the financial targets was constrained by the challenging operating environment throughout the strategy period. More information on the progress in the transformation and financial targets can be found in the Report by the Board of Directors.

Building on its simplified way of operating, Fiskars Group underwent a significant transformation during the strategy period, shifting from a centralized matrix structure toward operationally independent Business Areas to improve flexibility and speed of execution. In October 2024, Fiskars Group announced plans to separate its two Business Areas, Vita and Fiskars, into operationally independent subsidiaries. Since February 2025, the two Business Areas have operated independently with their own CEOs. This way of operating better reflects their differing

business drivers and investment needs and serves as a key enabler of future growth.

In the final phase of the transformation process, the Business Areas will become separate legal subgroups under the holding company, Fiskars Corporation. While the Business Areas focus on executing the core business, the holding company will develop the portfolio, allocate capital and drive performance management as well as fulfill the obligations of a listed company. The separation into individual legal entities is expected to be finalized by the end of the first quarter of 2026. This step also enables increasing transparency and measurability at the Business Area level. Fiskars Group plans to launch the next phase of its Group strategy and new financial targets in connection with its Capital Markets Day scheduled for May 12, 2026.

Sustainability is a strategic growth enabler for the Company. It represents an opportunity for the Company to further strengthen its reputation and increase brand love. Fiskars Group ensures sustainable profitable growth in the long term by setting concrete ESG targets and linking them to decision-making. The ESG strategy ensures a focus on the areas where the company has the biggest impact.

The ESG strategy is closely linked to the Company purpose: Pioneering design to make the everyday extraordinary. Informed by the continued process of assessing material sustainability dependencies, impacts, risks and opportunities, decisions are made ensuring their alignment with the Company’s

commitments, stakeholder expectations, and business requirements. A well-managed sustainability agenda creates competitive advantages and opportunities, reduces risks, and addresses societal challenges by creating innovative solutions, as well as helping the Company attract and engage the best talent.

Two commitments, pioneering design against a throwaway culture and making the everyday extraordinary, guide Fiskars Group’s decisions. The five key targets displayed are monitored and frequently reported at the Company level, both internally and externally. These targets represent part of the material impacts, risks and opportunities identified in the DMA. More detailed information about sustainability actions during 2025 can be found under the disclosures for each material topic.

Furthermore, Fiskars Group remains committed to the UN Global Compact and recognizes the importance of global collaboration to solving the significant challenges the world faces, as outlined in the UN Sustainable Development Goals (SDGs). The Company’s sustainability commitments are inspired by SDGs, focusing on three: SDG 10 Reduced inequalities, SDG 12 Responsible consumption and production, and SDG 13 Climate action.

The resilience of Fiskars Group’s adjustable business model is reflected in its risk and opportunity management, and investment decision process. The Company balances the impact of demand fluctuations by having an extensive and diverse product portfolio and continuously developing this with circular options, as well as broad geographical

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coverage. The Company can maintain safety stocks as a buffer against possible supply chain disruptions. Additionally, the Company relies on multiple source contracts to manage both price and availability risks, while striving to build strong and long-term relationships with trusted suppliers that live up to the Company’s corporate values and standards. Material impacts, risks and opportunities are utilized in decision-making processes, as well as risk and opportunity assessments. As a part of Fiskars Group’s financial planning, for example, process investments for energy efficiency and low-carbon solutions in manufacturing units and distribution centers are evaluated, and capital expenditures are applied to seize opportunities for investing. These investment considerations are also integrated in Fiskars Group’s EU Taxonomy assessment, ensuring that capital and operational expenditures are evaluated against the criteria for environmentally sustainable economic activities and aligned with the Company’s broader sustainability strategy.

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sustainability statement

ESG targets and progress

Environmental : Pioneering design against throwaway culture

Circular

economy

A majority of our net sales comes from circular products and services by 2030.

Base year

2021

2025

27%

1

50%

in 2030

Our own emissions

GHG (greenhouse gas) emissions

from own operations (Scope 1 and 2) reduced by 60% by 2030.

Base year

2017

2025

-62%

-60%

in 2030

from transportation and distribution (Scope 3) reduced by 30% by 2030.

Base year

2018

2025

-18%

2

-30%

in 2030

Our suppliers' emissions

80% of our suppliers by spend covering purchased goods and services will have science-based targets by 2029.

Target set 2025

2025

72%

3

80%

in 2029

* Fiskars Group conducted its latest employee engagement survey for all employees in April 2025. Inclusion Experience score was evaluated at 77.

** Current benchmark: 80 (June 2024).

Social : Making the everyday extraordinary

Safe workplace

2025

4.0

Zero harm with zero LTAF (Lost time accident frequency) by 2030.

Target

0

1

Inclusive workplace

2025

77*

Inclusion experience within the top 10% of global high-performing companies.

Target

80**

2

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Stakeholder group

Engagement approach

Consumers

Fiskars Group continuously engages with consumers through numerous touchpoints, including consumer service and care, surveys, written communications, social media, and discussions.

Customers

Fiskars Group works closely with its corporate customers through dedicated account teams, joint initiatives, and customer care. The Company also conducted interviews with its customers on their sustainability expectations during its materiality assessment.

Employees and potential employees

Employee engagement is based on frequent employee surveys, “town hall” meetings and other events, employee communications, individual development plans, and a variety of Fiskars Group training sessions, as well as internal and external social media.

Suppliers and subcontractors

Fiskars Group engages with its suppliers through site visits, annual supplier days, questionnaires, training (regarding setting science-based targets, for example) and the Company’s Supplier Audit Program.

Shareholders and investors

Fiskars Group engages shareholders and investors through its Annual General Meeting, quarterly reporting and webcasts, Capital Markets Day, investor meetings and presentations, and ongoing dialog with investors and analysts.

Non-governmental organizations (NGOs)

Forms of engagement with NGOs include partnerships, memberships, events organized with them, and ongoing dialog in addition to inviting NGOs to participate in a survey.

Media

Fiskars Group engages with the media through specific media events, interviews and articles, press releases, and connecting with media influencers, including those on social media.

Research institutes, universities, and vocational schools

Fiskars Group actively collaborates with universities and institutes through international talent programs, thesis commissions, product development, and new business models, for example.

Stakeholder expectations

Response

Fiskars Group’s product manufacturing process takes sustainability factors into account

Fiskars Group has clear policies and guidelines in place for its own and its suppliers’ manufacturing, on how to ensure proper health and safety procedures, environmental protection, and human and labor rights. When designing new products, the Company considers environmental impacts with sustainability guidelines, including checklists and material evaluations. Fiskars Group is working towards its target of having the majority of net sales coming from circular products and services by 2030.

Longevity and quality of products, increased circular economy efforts

Product design and life cycle management focuses on high-quality, safe, and long-lasting design products. Services, e.g., pan care and spare parts, are continuously developed and a part of Fiskars Group’s offering.

Product sustainability is disclosed transparently and clearly

Fiskars Group discloses information about product packaging, brand, and Company websites, as well as in-store materials. The Company has organized internal training in the upcoming EU Directive on Green Claims and taken it into account in the Company’s marketing policy. Trust is built on honest communication, and this is what Fiskars Group strives for in all its communications. The Company will continue to work on maintaining and developing its disclosure.

Sharing information about the Company’s sustainability journey and targets

The Company discloses sustainability information in its annual and interim reporting, external reporting platforms such as Ecovadis, UN Global compact, and other stakeholder questionnaires, social media, newsletters, and websites. The Company aims to be open about its progress and will continue to share information about its sustainability journey.

Ensuring responsible and transparent supply chain practices

Fiskars Group manufactures products in its own factories and with its partners. The majority of its own manufacturing units are ISO 45001-, ISO 9001-, and ISO 14001-certified (International Organization for Standardization). The Company’s suppliers must meet strict sustainability requirements and are audited by Fiskars Group’s own experts, as well as external partners. They must also commit to the Company’s Supplier Code of Conduct. Fiskars Group is a member of Sedex and Amfori BSCI. Fiskars Group is a global company and has manufacturing units, as well as suppliers in different parts of the world. The Company aims to be transparent regarding its supply chain practices.

In addition to manufacturing, Fiskars Group strives to further optimize logistics and transportation, from packaging to vehicles and route planning.

Employee wellbeing and competence development

At Fiskars Group, the health, safety, and wellbeing of employees are key priorities. The Company offers learning and development opportunities for employees, is committed to actively listening to its people through regular employee surveys, and acknowledges that everyone is unique and has different needs. Hybrid working has become part of Fiskars Group’s everyday work practices, and the Company aims to improve the physical, social, and emotional wellbeing of its people and promote a healthy work-life balance.

Clear sustainability commitment

Fiskars Group ESG strategy ensures focus on the areas the Company believes will have the greatest impact. During the review process the ESG governance model was updated. The Company has clearly defined responsibilities and plans in place to move forward with its approach.

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In the DMA conducted in 2023, negative impacts on workers in the value chain (S2) did not score above the threshold level. Due to the introduction of new product categories and sourcing countries, Fiskars Group reviewed the impact drivers of the DMA for the S2 Workers in the value chain in 2025. Fiskars Group conducted an internal assessment, re-evaluating and scoring the severity and likelihood of negative impacts, following the same assessment criteria as the 2023 DMA process. Information sources were the 2024 Annual Report and sustainability-related strategy and process material. The re-evaluation resulted in two new negative impacts evaluated as significant (4), and hence added to the reporting scope of this Sustainability Statement. The negative impacts are found under the sub-topic Other work- related rights, and are presented in the tables on Material sustainability-related impacts, risks and opportunities .

The material topics are well aligned with Fiskars Group’s business and focus points. E1, E4, and E5 are all linked. What all the brands within Fiskars Group share is their development and provision of high-quality, safe, and long-lasting products. Fiskars Group is focused on expanding its circular offering, investigating alternative materials, and incorporating circular principles in the design phase. Minimizing the negative impacts from Fiskars Group’s own operations is imperative. This covers not only improving resource and energy efficiency and reducing emissions but also examining impacts on biodiversity.

Regarding material social topics S1, S2, and S4, as a global company, Fiskars Group affects or may affect

its own employees, those working in the value chain, and the consumers and end-users of the products distributed. Due diligence aspects covering both upstream and downstream operations are crucial. Overall, having a responsible corporate culture (G1) and ensuring transparency towards stakeholders are crucial for upholding good relationships and the Company’s reputation.

In the following section, the results of the DMA are presented at the sub-topic level.

Material sustainability-related impacts, risks and opportunities

The tables presented in this section list and describe the impacts, risks and opportunities that have been assessed as material for Fiskars Group and utilized for determining the reporting scope as a result of the DMA. Each material topic is presented with specifications on the sub-topics to which the material impacts, risks and opportunities are related.

In addition, the tables indicate whether material impacts are negative or positive impacts, and whether the material impacts, risks or opportunities are actual or potential. Impacts have been considered holistically through the Company’s own operations, as well as a result of main business relationships, and the results are also displayed in the tables. In cases where impacts are driven through business relationships, the value chain phase depicts whether they are driven by the upstream or downstream value chain. The score for each impact, risk or opportunity is disclosed. The time horizons considered are short-, medium-, and long-term. For material impacts, the

expected time horizon is medium-term (1–5 years) but also short–term, as they are already taking place. For the material risks and opportunities, no considerable financial effects on the Company’s financial position, financial performance, or cash flows have currently been identified. Sustainability-related risks and opportunities are linked to the Fiskars Group ERM process, and mitigation efforts have been put in place as required. With them, the Company has not identified any material risks or opportunities for which there is a significant risk of a material adjustments in the related financial statements. The ERM process is further explained after this section and tables.

More information about Fiskars Group’s approach to handling the effects of material topics can be found under the relevant topics within the environmental, social, and governance sections. Additional information about Fiskars Group’s business model and value chain can be found in this ESRS 2 standard in the section on Business model and strategy .

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Material impacts, risks and opportunities

E1. Climate Change

Sub-topic

Material impact/risk/opportunity

Description of material impact, and risk or opportunity

Value chain phase driving impact

Score

Time horizons

Energy

Actual negative impact

Energy-intensive processes (raw materials)

Energy-intensive processes in raw material production (e.g., steel, aluminum, plastics, glass).

Upstream

Own operations

Critical (5)

Short-term, Medium- term, Long-term

Actual negative impact

Energy-intensive processes (own manufacturing)

Energy-intensive own manufacturing processes (e.g., glass manufacturing). Consumption of fossil fuels and other non-renewable energy sources both in own operations and in the value chain.

Upstream

Own operations

Significant (4)

Short-term, Medium- term, Long-term

Climate change adaptation

Potential financial risk

Disruptions due to extreme weather conditions

Increasing amount of extreme weather conditions such as storms, floods, draughts, and heatwaves bring increasing risks to disruptions in supply chain and own manufacturing. Exposure to risk is considerable due to global value chain.

Upstream

Own operations

Downstream

Significant (4)

Short-term, Medium- term, Long-term

Climate change mitigation

Actual negative impact

Scope 3 emissions

Significant Scope 3 emissions. Major part of Scope 3 emissions driven by purchased goods and services. Another significant source is upstream and downstream transportation (due to global value chain and distribution network).

Upstream

Downstream

Critical (5)

Short-term, Medium- term, Long-term

Actual negative impact

Scopes 1 and 2 emissions

Manufacturing of physical goods plays a major role in Scopes 1 and 2 emissions, even though reductions have been made.

Own operations

Significant (4)

Short-term, Medium- term, Long-term

E4. Biodiversity and ecosystems

Sub-topic

Material impact/risk/opportunity

Description of material impact, and risk or opportunity

Value chain phase driving impact

Score

Time horizons

Direct impact drivers of biodiversity loss

Actual negative impact

Biodiversity impacts across the value chain

Biodiversity impacts across the value chain. All specific biodiversity impacts throughout the global value chain have not yet been identified, but as Fiskars Group’s business relies on ecosystem services, the impacts can be assumed to be there.

Upstream

Own operations

Downstream

Significant (4)

Short-term, Medium- term, Long-term

Impacts and dependencies on ecosystem services

Actual negative impact

Reliance on ecosystem services

Fiskars Group’s business is reliant on ecosystem services. While there is limited understanding of specific biodiversity impacts, the impacts can be assumed to be there.

Upstream

Own operations

Downstream

Significant (4)

Short-term, Medium- term, Long-term

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E5. Resource use and circular economy

Sub-topic

Material impact/risk/opportunity

Description of material impact, and risk or opportunity

Value chain phase driving impact

Score

Time horizons

Resource inflows including 

resource use

Actual negative impact

Resource-intensive business model

Resource-intensive business model and high consumption of non-renewable virgin materials.

Upstream

Own operations

Critical (5)

Short-term, Medium- term, Long-term

Potential financial risk

Ability to replace certain raw materials

Ability to replace raw materials profitably: availability and price of alternative materials (e.g., recycled materials) may become an issue due to high demand, and may generate supplier lock-ins. In addition, alternative materials may influence product quality.

Upstream

Own operations

Significant (4)

Medium-term, Long- term

Resource outflows related to products and services

Actual positive impact

Longevity of the products

Product design and life cycle management focusing on providing long-lasting design products.

Own operations

Downstream

Critical (5)

Short-term, Medium- term, Long-term

Actual positive impact

Circular product portfolio

Investments to increase circular product portfolio.

Own operations

Significant (4)

Short-term, Medium- term, Long-term

Actual financial risk

Reaching commercially viable circularity

Reaching ambitious circularity targets in a commercially viable manner. Circular product and service development comes with a cost both in offline and online channels. Scaling new circular services is challenging in global markets.

Own operations

Significant (4)

Short-term, Medium- term, Long-term

Actual financial opportunity

High-quality and long-lasting products

Product longevity: high-quality and long-lasting products increasing the value for users and decreasing product life cycle footprint. Further opportunities exist in extending product life through services, for example. Design for functionality and sustainability is critical.

Own operations

Downstream

Critical (5)

Short-term, Medium- term, Long-term

Actual financial opportunity

Improving productivity and resource efficiency

Further improving productivity and resource efficiency in own manufacturing. Further development opportunities to increase resource efficiency (reducing materials and decreasing weight of packaging materials, for example).

Own operations

Significant (4)

Short-term, Medium- term, Long-term

Potential financial opportunity

Increasing interest in circular products and services

Circularity is an opportunity when leading change. Increasingly many customers value circular products, and many consumer segments favor high-quality, long-lasting and circular products. Opportunities associated with maintenance and repair, recycling (e.g., collaborations), and aftermarket (e.g., takeback programs).

Own operations

Downstream

Significant (4)

Short-term, Medium- term, Long-term

Waste

Actual negative impact

Waste generation in the value chain

Waste generation in the value chain by raw material and product suppliers, including hazardous waste, from, e.g., steel production.

Upstream

Significant (4)

Short-term, Medium- term, Long-term

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S1. Own workforce

Sub-topic

Material impact/risk/opportunity

Description of material impact, and risk or opportunity

Value chain phase driving impact

Score

Time horizons

Working

conditions

Potential negative impact

Health and safety hazards

Health and safety hazards for employees. The risk of injuries is present mainly for employees working at manufacturing and distribution facilities.

Own operations

Significant (4)

Short-term, Medium- term, Long-term

Actual positive impact

Health, safety, and wellbeing

Health, safety, and wellbeing of own employees.

Own operations

Significant (4)

Short-term, Medium- term, Long-term

Potential financial opportunity

Talent attraction and retention

Good reputation exists regarding Fiskars Group’s sustainability actions, positively contributing to talent attraction. Opportunities to strengthen image as a sustainable company through improved communications regarding positive actions to support employee attraction and retention.

Own operations

Critical (5)

Short-term, Medium- term, Long-term

Actual financial opportunity

Health, safety, and wellbeing

Focus on the health, safety, and wellbeing of employees.

Own operations

Significant (4)

Short-term, Medium- term, Long-term

Equal treatment

& opportunities

for all

Actual positive impact

Fair, equitable, and inclusive workplace

Efforts made for a fair, equitable, and inclusive workplace, including building awareness, new networks, and tangible policies to contribute positively in different markets.

Own operations

Significant (4)

Short-term, Medium- term, Long-term

S2. Workers in the value chain

Sub-topic

Material impact/risk/opportunity

Description of material impact, and risk or opportunity

Value chain phase driving impact

Score

Time horizons

Working

conditions

Secure employment, Working time, Adequate wages, Social dialog, Freedom of association, Collective bargaining, Work-life balance, Health and safety

Potential financial risk

Human rights risks in the value chain

Risks to human rights are present, as sourcing also reaches areas with elevated risk levels. If issues are identified, they could significantly affect the Company's reputation. These risks are likely to grow as new requirements and expectations arise.

Upstream

Significant (4)

Short-term, Medium- term, Long-term

Other work-related rights

Potential negative impact

Child labor being used in the value chain

Risk of negative impact in form of child labor being used has been identified despite robust audit processes. The possibility arises as new product categories and sourcing countries are being introduced.

Upstream

Downstream

Significant (4)

Short-term, Medium- term, Long-term

Potential negative impact

Forced labor being used in the value chain

Risk of negative impact in form of forced labor being used esp. among raw material suppliers has been identified despite robust audit processes. The possibility arises as new product categories and sourcing countries are being introduced.

Upstream

Downstream

Significant (4)

Short-term, Medium- term, Long-term

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S4. Consumers and end-users

Sub-topic

Material impact/risk/opportunity

Description of material impact, and risk or opportunity

Value chain phase driving impact

Score

Time horizons

Personal safety of consumers and end-users

Health & safety, Security of a person, Protection of children

Actual positive impact

Product safety

Integration of robust safety measures promotes consumer wellbeing by minimizing the risk of accidents, injuries, or health issues associated with the product’s use.

Own operations

Downstream

Critical (5)

Short-term, Medium- term, Long-term

Social inclusion of consumers and end-users

Non-discrimination, Access to products and services, Responsible marketing practices

Potential positive impact

Durable, high-quality products

Durable and high-quality designs promote sustainable consumption patterns by reducing the frequency of product replacements.

Own operations

Downstream

Significant (4)

Short-term, Medium- term, Long-term

Actual financial risk

Communications and labeling

Potential risks arise if responsible marketing and sales practices are not adhered to, especially in communications and labeling. It is essential to carefully support marketing claims with verified information, certifications, and effective product information management.

Own operations

Downstream

Critical (5)

Short-term, Medium- term, Long-term

Actual financial opportunity

Company reputation

Fiskars Group has a strong reputation as one of the largest companies in Finland and in the Nordic region. Fiskars Group is recognized as a leader, and it is important to emphasize the Company’s values and commitment to circularity.

Own operations

Downstream

Critical (5)

Short-term, Medium- term, Long-term

Potential financial opportunity

Demand for sustainable products

Increasing customer expectations and demand for sustainable products.

Own operations

Downstream

Significant (4)

Short-term, Medium- term, Long-term

G1. Business Conduct

Sub-topic

Material impact/risk/opportunity

Description of material impact, and risk or opportunity

Value chain phase driving impact

Score

Time horizons

Corporate culture

Actual positive impact

Comprehensive policies

Sustainable policies and business practices, employee, and supplier code of conduct.

Upstream

Own operations

Significant (4)

Short-term, Medium- term, Long-term

Potential financial risk and opportunity

Sustainability-driven publicity

Publicity through sustainability can be an opportunity and a risk factor, e.g., communications of sustainability performance and controversies.

Own operations

Downstream

Significant (4)

Short-term, Medium- term, Long-term

Actual financial opportunity

Integration of sustainability

Sustainability integrated in business strategy and management incentives.

Own operations

Significant (4)

Short-term, Medium- term, Long-term

Potential financial opportunity

Robust corporate culture

Responsible corporate culture, which is adopted by employees, brings reputational benefits, and minimizes risks.

Own operations

Significant (4)

Short-term, Medium- term, Long-term

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Enterprise Risk Management (ERM) process

Fiskars Group’s Risk Management Policy provides comprehensive guidelines for managing risks across the organization. A key component of this policy is the risk appetite statement, which defines the level and type of risks the Company is willing to accept.

Responsibility for risk identification, assessment, managing and monitoring lies with the business areas and group functions. The Risk Management function facilitates and develops the Enterprise Risk Management process and tools, and provides the needed support. The Fiskars Group Leadership Team (FGLT) assesses major risks within the Company, and these assessments are incorporated into risk information from Business Areas and group functions. Cross-functional collaboration is used to develop action plans to mitigate the financial impact and probability of the most significant risks, which are then presented to the Audit Committee for review.

Fiskars Group aims to maintain operational excellence. The Company accepts a moderate level of operational risk to foster innovation and efficiency improvements. To ensure the safety of assets Fiskars Group focuses on preventive risk management actions and process discipline to avoid potential interruptions to business operations. However, the Company does not accept any risks in the health and safety of the employees and customers, and aims to avoid them.

Technological advancements are embraced to enhance our competitive edge. Fiskars Group accepts moderate technology risk, recognizing the

potential for disruption and obsolescence. However, the tolerance for cybersecurity risks is low, and the Company is committed to mitigating them through robust cybersecurity measures, continuous improvement of the IT infrastructure, and a security awareness program for all the Company’s employees.

Fiskars Group has a well-balanced portfolio of unique brands. The brands are present in more than 100 countries. The brands’ reputation is a critical asset for the Company, and it has a low tolerance for actions that could negatively impact the brands and stakeholder trust. Fiskars Group is committed to maintaining the highest standards of corporate governance and ethical business practices. Any risks to the Company’s reputation is managed proactively through transparent communication and stakeholder engagement.

Fiskars Group’s strategic approach recognizes the importance of ESG (environmental, social, and governance) factors in value creation and maintaining stakeholder trust. Fiskars Group has a low tolerance for ESG risks and is committed to integrating ESG considerations in decision-making processes and business operations. ESG-related risks are integrated in the Enterprise Risk Management framework, using the same risk matrix and ensuring these risks are treated with the same rigor as financial and operational risks. In the annual process, the Double Materiality Assessment outcome is also taken into account.

A similar approach is applied to sustainability-related Company opportunities, where an opportunity is

assessed based on the potential positive financial impact and the effort required to achieve the opportunity. Opportunities sometimes act as a way to mitigate risks, e.g., the opportunity to source energy from renewable sources or to develop alternative concepts supporting the circular economy.

IRO-1 Double Materiality Assessment methodology

Fiskars Group conducted an Impact Materiality Assessment in 2022. A stakeholder survey was conducted as a part of the Impact Materiality Assessment, and the results were utilized in the review of Fiskars Group’s sustainability commitments. In addition to the impact lens, financially material topics were also identified in a Leadership Team discussion, thus expanding the scope to cover elements of double materiality. In 2023, Fiskars Group conducted a more thorough Financial Materiality Assessment to complement the results of the Impact Materiality Assessment and fulfill the requirements of the DMA. At the time of conducting the assessment, EFRAG’s IG 1 Materiality Assessment Guidance had yet to be published. Fiskars Group applied the ESRS 1 principles in the DMA. During 2025, Fiskars Group reviewed its DMA, which resulted in the addition of negative impacts under S2 Workers in the value chain .

Impact materiality

The Impact Materiality Assessment in 2022 was conducted to update Fiskars Group’s understanding of material topics and the main impacts throughout the value chain on the economy, environment, and society. Material topics were identified and prioritized

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in a process that involved external and internal stakeholders. The GRI’s approach to determining material topics was taken into account throughout the process.

A current state analysis was conducted as a desktop study, including benchmark studies. Existing materials on the Company’s sustainability initiatives and actions, impacts and risks, business offering, and strategy and business environment were examined. Upcoming regulatory requirements and global drivers were also reviewed. This first step helped identify relevant topics for Fiskars Group.

The second step included conducting a global online stakeholder survey and several in-depth interviews. The stakeholder groups comprised both affected stakeholders and intended users of the Sustainability Statement. The survey was conducted to identify stakeholder views of Fiskars Group’s sustainability performance and the most material sustainability topics and external drivers. The survey was conducted in English, Finnish, Swedish, Japanese, and Chinese. Questions included the selection and scoring of topics, and two open questions. The survey was distributed via online channels and email invitations to the following stakeholder groups: consumers; corporate customers; employees or potential employees; suppliers; investors; NGOs; and the media. The survey results were analyzed according to three geographical areas (Americas, Asia-Pacific, and Europe), while also considering differences between internal and external stakeholder groups. Initial lists and matrices of material sustainability topics were

formulated based on the survey results. Fiskars Group received 1,136 responses from almost 40 countries. The majority of the respondents represented external stakeholder groups, with consumers representing the largest group.

In addition to the online survey, five in-depth key stakeholder interviews were held. The interviews were conducted to deepen the understanding of stakeholder needs and expectations of Fiskars Group’s sustainability performance and future focus points. The stakeholder groups represented in the interviews were investors, board members, NGOs, and corporate customers.

The third step included a benchmark study and a working meeting with Fiskars Group Leadership Team (FGLT) representatives. The sustainability benchmark study was conducted to complement the stakeholder study results and gather new angles, especially considering the Company’s Growth Strategy 2021–2025 and focus markets, the U.S. and China. Two competitors from both markets were selected for the benchmark study. The working meeting with Leadership Team members was organized to discuss the sustainability landscape, focusing on financially material sustainability topics.

The results of the survey and stakeholder interviews were discussed and prioritized in an internal workshop with key experts from the Company’s Business Areas and functions. The final results and prioritized list of material topics were then reviewed and approved by the FGLT, as defined in the Company’s governance model. The Upright Project’s

net impact assessment on Fiskars Group was also reviewed in the original materiality analysis.

Double materiality

In 2023, the DMA began with a desktop study. The Impact Materiality Assessment, including stakeholder inputs, was reviewed, gaps against CSRD requirements were identified, and the Impact Materiality Assessment was updated accordingly. This was done to ensure the Impact Materiality Assessment and related scoring of impacts were aligned with the Financial Materiality Assessment approach. The desktop study was complemented by the identification of typical industry impacts, and risks and opportunities. Insights were gathered on relevant global megatrends and benchmarks, as well as potential financially material topics in the industry. All relevant existing information for the Financial Materiality Assessment was analyzed, and gaps in background information identified.

Internal working sessions were held to discuss the materiality analysis and potential impacts. Nine internal key decision-makers from Business Areas and key functions were engaged to assess sustainability-related risks and opportunities through interviews. Within these steps, a list of preliminary hypotheses for potential material topics was formed and reviewed to identify any possible gaps.

Based on the discovery phase, an initial materiality analysis was performed. This included justification for the business risks and opportunities identified against the sustainability topics. Performing this initial financial materiality included: risks and opportunities

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associated with the sustainability topics across the value chain; the rationale for the drivers of these risks and opportunities and a preliminary analysis of the likelihood and size of the effect; and differences expected between the short, medium, and long terms. The identified risks and opportunities are largely driven by and dependent on impacts, and vice versa. Due to certain impacts from its business model and operations, Fiskars Group faces both business risks and opportunities.

The preliminary analysis was used to prepare for and execute a financial materiality workshop. The workshop was a deep dive into financial materiality, assessing and scoring the sustainability topics. The focus was maintained on risks and opportunities with a material influence on Fiskars Group’s cashflows, development, performance, position, costs of capital, or access to finance.

Finally, the findings were validated and aligned with impact materiality. The results of the assessment were reviewed and validated by the FGLT, and presented to the Audit Committee and Board of Directors.

The DMA process took a holistic approach, considering all material topics. This approach includes activities, business relationships, and geographies that may contribute to adverse impacts, but there was no specific focus on them.

Assessment criteria

The materiality scoring was conducted using a 1–5 scoring range for both impact and financial materiality. The scoring is based on the more detailed estimates of severity or financial effect and likelihood (actual or potential). For the Impact Assessment, the review included an assessment of whether the topic caused negative or positive impacts on people or the environment, the severity (scale, scope, irremediability) of actual and potential impacts, and whether the impacts were actual or potential. In the scoring method, severity precedes likelihood, meaning that a topic with a high severity score may become material even with a low likelihood, but a topic with high likelihood and low severity is not deemed material. In the case of financial materiality, the review included an assessment of whether the topic posed a business risk or an opportunity, its likelihood, and the size of any potential financial effects.

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Downstream

Double Materiality Assessment scoring has been aligned with CSRD requirements

Impact assessment

Is the topic causing negative or positive impacts on people or the environment?

What is the severity (scale, scope, irremediability) of actual and potential impacts? Scoring 1 (Very low) – 5 (Very high).

Are the impacts actual or potential? If potential, what is the likelihood of the potential impacts? Scoring 1 (Very unlikely) – 5 (Actual)

Financial materiality

Is the topic posing a business risk or an opportunity?

What is the size of potential financial effects? Scoring 1 (Very low) – 5 (Very high).

What is the likelihood of the topic posing a business risk or an opportunity? Scoring 1 (Very unlikely) – 5 (Actual)

Materiality scoring

The materiality scoring has been done using a 1–5 scoring range for both impact and financial materiality. The scoring is based on the more detailed estimates of severity or financial effect and likelihood (actual or potential).

Minimal

(1)

Informative

(2)

Important

(3)

Significant

(4)

Critical

(5)

Consideration of the entire value chain

Upstream

Double Materiality Assessment will need to acknowledge impacts, and risks and opportunities directly linked to the Company’s own operations and in the upstream and downstream value chain, not limited to contractual relationships.

Time perspectives to be acknowledged

Short-term

Under 1 year

Would the significance of some impacts, and risks or opportunities increase or decrease when considering them in a short- or long-term horizon?

Own operations

Medium-term

1–5 years: baseline considered in the assessment

Long-term

Over 5 years

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Fiskars Group maintains comprehensive Management Systems and certifications supporting environmental topics such as emissions, waste, and pollution. Complementing them, the Company’s broader governance and compliance frameworks cover human rights, labor practices, and ethical business conduct. These systems support compliance with DNSH and minimum safeguards, as well as the Company’s overall environmental and social responsibility commitments.

As of 2025, 90% of manufacturing units and distribution centers are ISO 9001-, ISO 14001-, and ISO 45001-certified. Fiskars Group has assessed its activities against the minimum safeguards under Regulation (EU) 2020/852 and found them aligned. The Company has policies covering human rights, anti-corruption, taxation, and fair competition that extend to its business partners. Further details are provided under ESRS S1 and G1.

Each KPI is derived directly from Fiskars Group’s IFRS-based financial statements to ensure consistency and traceability with audited figures. Each project activity is assigned to only one economic activity under the EU Taxonomy, and no items have been double-counted.

EU Taxonomy KPIs (Turnover, CapEx, and OpEx)

The EU Taxonomy requires undertakings to disclose the proportion of turnover, CapEx, and OpEx associated with environmentally sustainable activities. Fiskars Group reports these KPIs in accordance with the 2025 simplification. As no individual economic

activity exceeded the 10% threshold for detailed screening, all activities are presented as “not assessed.”

Fiskars Group’s core business consists of designing, manufacturing, and selling consumer products. In addition, the Company conducts real estate leasing, circular-service, and forest management activities, which remain within the scope of the EU Taxonomy but represent a minor share of overall business operations. The Company also conducts some cultural activities, which have been included in the past, but with the updated EU Taxonomy methodology, these have been removed from disclosure.

Forest management (CCM 1.3)

Fiskars Group owns around approximately 14,000 hectares of FSC™-certified (FSC C109750) and PEFC- certified (PEFC / 02-21-18) forests in Finland. The forests are actively managed, generating income from sustainable wood sales (logging) while maintaining significant carbon stocks and sinks. According to an assessment by Natural Resources Institute Finland, the current carbon stock of trees is 2.2 million tonnes of CO 2 equivalent, and the total combined carbon stock of trees, other biomass, and soils is 5.7 million tonnes of CO 2 equivalent. The current annual carbon sink of the forests is 18,000 tonnes of CO 2 equivalent. Fiskars Group’s forest management meets, and in many parts exceeds, the criteria set by Finnish law.

This activity falls within the scope of Taxonomy activity CCM 1.3 Forest management under the climate change mitigation objective. Although

presented as “not assessed” for 2025 under the 10% exemption, it supports long-term sustainable resource use, biodiversity protection, and carbon sequestration.

Real estate (CCM 7.7)

Fiskars Group owns and manages several properties, including heritage buildings in Finland. Rental income is generated from these assets, which fall within the scope of Taxonomy activity 7.7 Acquisition and ownership of buildings. Many are listed or protected properties that are exempt from EPC requirements. While energy performance measures have not been assessed in 2025, the Company continues to evaluate renovation opportunities and energy efficiency improvements across its real estate portfolio to enhance environmental performance.

Manufacture of electrical and electronic equipment (CE 1.2.)

Fiskars Group manufactures electrical and electronic equipment, including lighting products under the Iittala and Georg Jensen brands, as well as small domestic appliances such as toasters and electric kettles, also introduced by Georg Jensen in recent years. These activities fall within the scope of Taxonomy activity CE 1.2 Manufacture of electrical and electronic equipment under the circular economy objective. Although not assessed for 2025, they demonstrate the Company’s commitment to durable energy-efficient product design and responsible material use.

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Circular services (CE 5.1, CE 5.2, and CE 5.4)

Fiskars Group promotes circularity through its repair, refurbishment, and resale services:

Repair and refurbishment (CE 5.1): The Fiskars Pan-Care service extends the lifetime of frying pans by professional cleaning and recoating, while Georg Jensen offers repair services for jewelry and watches

Sale of spare parts (CE 5.2): Fiskars Group provides replacement parts for gardening tools and watch components, enabling product longevity

Sale of second-hand goods (CE 5.4): The Vintage concept allows consumers to buy and sell pre- owned Iittala and Arabia tableware, extending the life of timeless designs.

Although presented as “not assessed” under the 2025 simplification, these initiatives illustrate measurable progress toward circular business models and resource conservation by extending product lifetimes, reducing waste generation and encouraging reuse.

Energy-related investments (CCM 7.3 and CCM 7.6)

Fiskars Group continues to invest in process improvements and energy-efficiency measures that directly support the Taxonomy’s climate- mitigation objectives. Projects exceeding EUR 100,000 are tracked for potential future alignment. Examples include:

At the Georg Jensen factory in Chiang Mai, Thailand, a solar power roof was completed in 2025 to increase the share of renewable energy

and reduce grid dependency. The investment amounted to approximately EUR 681,000 and is the latest step in Fiskars’ efforts to replace existing energy solutions with solar photovoltaic systems at its manufacturing units.

At the Rogaška glass factory in Slovenia, the Company installed a new solar power system and replaced aging oil-cooled transformer units with modern air-cooled transformers, totaling investments of approximately EUR 1,075,000. The upgrade eliminated hazardous waste oil, reduced fire risk and maintenance needs, and improved energy efficiency. These projects fall within the scope of CCM 7.6 Installation, maintenance and repair of renewable energy technologies.

Continued in Rogaška, a major investment in tempering furnaces was initiated in 2025 and will be completed in 2026. The project replaces gas- fired furnaces with electric ones, heavily reducing direct carbon emissions. The new furnaces are significantly more energy efficient, consuming less energy while improving operational stability. The total investment value amounts to EUR 825,000.

At the PT Doulton factory, the Company continued its energy-efficiency projects, totaling approximately EUR 330,000, by replacing existing machinery, including phase 2 of replacing a new cup line and the purchase of a new plate line. Both projects will reduce the risk of supply disruption, operational costs and energy consumption (10% for cup line and 40–50% for plate line) and improve safety for workers. Both the project in Rogaška and the two in Indonesia fall under CCM 7.3 Installation, maintenance and repair of energy-efficiency equipment.

These green investments demonstrate Fiskars Group’s continued commitment to energy transition and climate performance. Although not formally screened for 2025 due to the 10% materiality exemption, they provide a strong foundation for future Taxonomy-aligned reporting once detailed screening resumes.

Outlook and future developments

Fiskars Group remains committed to progressively integrating the EU Taxonomy framework into its strategic, financial, and sustainability reporting. The Company’s approach, i.e., combining regulatory compliance with practical decarbonization measures, ensures readiness for future years when detailed alignment screening resumes. Continuous monitoring of delegated act updates and internal data improvements will enable more granular and comparable Taxonomy disclosures over time.

Fiskars Group will continue to assess its economic activities considering future EU amendments and technical screening criteria updates to ensure ongoing compliance and transparency under the evolving sustainable finance framework.

Taxonomy table

The accompanying table discloses the denominators for turnover, CapEx, and OpEx in accordance with the relevant International Financial Reporting Standards (IFRS). Numerators are reported as "not assessed" (N/A), reflecting the application of the 10% materiality exemption. This approach ensures methodological continuity with prior years while providing a transparent baseline for future Taxonomy- aligned reporting once detailed screening resumes.

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Overview*

Financial year 2025

Breakdown by environmental objectives of Taxonomy aligned activities

Economic Activities

Total

Proportion of Taxonomy- eligible activities

Taxonomy aligned activities

Proportion of Taxonomy aligned activities

Climate change mitigation

Climate change adaptation

Water

Circular economy

Pollution

Biodiversity

Proportion of enabling activities

Proportion of transitional activities

Not assessed activities considered non- material

Taxonomy aligned activities in previous financial year (2024)

Proportion of Taxonomy aligned activities in previous financial year (2024)

M EUR

%

M EUR

%

%

%

%

%

%

%

%

%

%

M EUR

%

Turnover

1,140.22

-

N/A

N/A

-

-

-

-

-

-

N/A

N/A

1.6%

9.12

0.8%

CapEx

82.50

-

N/A

N/A

-

-

-

-

-

-

N/A

N/A

4.7%

2.51

3.0%

OpEx

40.16

-

N/A

N/A

-

-

-

-

-

-

N/A

N/A

8.1%

0.58

1.6%

Template I: Proportion of turnover, CapEx, OpEx from products or services associated with Taxonomy-eligible or Taxonomy-aligned economic activities – disclosure covering year 2025 (summary KPIs).

* In line with the 2025 Taxonomy simplification, the table includes total turnover, CapEx and OpEx figures from 2024 as required, while alignment assessment was not performed in 2025 as no individual activity exceeded the 10% materiality threshold, whereas in the prior year activities were assessed for alignment.

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multiple approaches. The Company’s manufacturing sites and distribution centers periodically assess environmental risks, considering operational activities and environmental data, including data on emissions. Each site, Business Area, and group function maps actual and potential risks and opportunities across their operations, including upstream and downstream activities. These assessments form part of Fiskars Group’s annual ERM process, with the DMA serving as an extension. Details on the ERM process can be found under the Governance section of the General Disclosures and in the Report of the Board of Directors.

Climate resilience in strategy

Sustainability is embedded in Fiskars Group’s overall strategy and decision-making. Environmental interdependencies are systematically considered to ensure that strategic choices align with the Company’s environmental targets and long-term business priorities as part of the decision-making process and ensure that decisions are aligned with the environmental targets set for the Company. The ESG strategy, Environmental Policy, and other related policies guide these decisions, outlining key priorities and focus areas that are to be weighed by the Business Areas. Advancing circular products and services is included as a KPI in Fiskars Group's share- based long-term incentive plan for key employees. See more under ESRS 2 Governance .

Fiskars Group integrates climate resilience by aligning its business planning with global climate goals and through tangible mitigation and adaptation measures. The Company is committed to achieving net-zero emissions by the end of 2049. The Company is part

of the UN Business Ambition for the 1.5 °C initiative, reinforcing its alignment with the Paris Agreement, and the near-term science-based emissions reduction targets set by Fiskars Group have been approved by the Science Based Targets initiative (SBTi).

As a manufacturing company, Fiskars Group’s production strategy is central to delivering its climate goals. It combines its own factories and distribution centers with a globally diversified supplier network to enhance resilience and flexibility. Business Areas continuously assess exposure to climate-related risks across key sites—for example, Fiskars Group’s own manufacturing unit in Indonesia, which is prone to extreme weather risk drivers such as heavy precipitation, wildfires, and extreme heat. Site-level climate risk assessments and adaptation measures are conducted regularly to mitigate flood and natural hazard risks across the Company’s own operations.

Fiskars Group’s business model is inherently seasonal and sensitive to weather variability, particularly in product categories linked to gardening and winter activities. For example, in Business Area Fiskars, demand for gardening tools peaks in the first half of the year and is highly dependent on spring weather conditions, while snow tool demand fluctuates with winter snowfall. In Business Area Vita, the fourth quarter is critical due to holiday-related sales, making supply chain continuity and cost management essential for maintaining profitability. This diversification across categories and markets helps buffer the financial effects of climate and seasonal volatility.

Fiskars Group balances the impact of seasonality and changing weather conditions through an extensive and diverse product portfolio, broad geographical coverage, and strong supplier partnerships. Safety stocks are maintained as a buffer against possible supply chain disruptions, while multiple source contracts help manage both price and availability risks.

Fiskars Group manages the financial implications of climate-related hazards through a combination of risk transfer, investment planning, and governance integration. Comprehensive insurance coverage mitigates potential losses from property damage and business interruptions, while climate-related risks and opportunities are systematically incorporated into capital expenditure and investment decisions. Process investments in energy efficiency and low- carbon solutions are prioritized across manufacturing units and distribution centers, and ESG factors are assessed in all relevant due diligence processes, e.g., major acquisitions and divestments. This integrated approach ensures that climate resilience remains embedded in both strategic and financial decision-making.

Scenario analysis

Fiskars Group has previously conducted a benchmark and gap analysis, along with baselining and risk prioritization in 2021, and further qualitative scenario analysis. The work was conducted in accordance with the Task Force on Climate-Related Financial Disclosures (TCFD). The Company initiated an update to its scenario analysis during 2025, conducting a

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quantitative scenario analysis of physical climate risks for its own manufacturing units globally.

In addition to current-state climate risk analysis, Fiskars Group applied the global warming scenario SSP5-8.5 (Shared Socioeconomic Pathway). The high emission scenario SSP5-8.5 relies heavily on fossil fuels, corresponding to a 4.4 °C warming by the end of 2100, leading to severe chronic and acute climate risks.

Fiskars Group bases this year’s report on one scenario and expects to adopt several other scenarios moving forward, with work currently in progress. A current state analysis (short- and medium-term) has been conducted on transition risks and opportunities, while a long-term scenario analysis has not yet been conducted. Fiskars Group plans to continue with the scenario work in 2026 and expand beyond its own manufacturing units to include transition risks also in the long-term scenario analysis. The timeframes referred to in the tables are short- and medium-term (0–5 years) and long–term (5 years and more).

While the physical climate risk assessment reflects short-, medium-, and long-term impacts under the SSP5-8.5 scenario, the assessment of transition risks and opportunities currently covers only short- and medium-term time horizons and does not yet include a long-term scenario analysis.

The assessment conducted in 2025 evaluates climate risks from a global perspective and includes site evaluations across all Fiskars Group’s own manufacturing sites. The first step of the assessment

Physical climate risks from own manufacturing

Category

Risk

Time horizon

Description

Hazard trend in long- term SSP5-8.5 scenario

Acute physical risk

Drought

Short-, medium-, and long-term

Increased water stress in

manufacturing plants.

Increasing trend

Chronic physical risk

Sea level rise

Short-, medium-, and long-term

One site has been detected to be at risk of sea level rise, which may cause risk to the infrastructure and assets.

Decreasing trend

Acute physical risk

Heavy precipitation

Short-, medium-, and long-term

Increase in frequency and duration of heavy rainfall may

cause flooding, damaging transportation networks and disrupting the supply chain, impacting the transportation and distribution times of raw materials coming in or finished products going out.

Increasing trend

Acute physical risk

Storm surges, windstorms, cyclones

Short-, medium-, and long-term

Increase in frequency and severity of storm surges and cyclones may cause flood damage to coastal

infrastructure and assets, disrupting operations.

Increasing trend

Acute physical risk

Heatwave

Short-, medium-, and long-term

Increase in surface temperature may cause equipment to overheat and shut down, and increased rutting in roads may cause delays in transportation times. Workers’ wellbeing and productivity may also be impacted.

Increasing trend

Acute physical risk

Cold wave or frost

Short-, medium-, and long-term

Cold waves or frost may cause delays in transportation times of raw materials and products for sites that are not accustomed to them. This risk is deemed low in materiality.

Decreasing trend

Acute physical risk

Wildfire

Short-, medium-, and long-term

Increase in temperatures and decrease in rainfall may impact the severity and frequency of wildfires.

Increasing trend

Transition risks and opportunities from own manufacturing

Category

Risk/ Opportunity

Time horizon

Description

Policy and legal

Transition risk

Short- and medium-term

Increased price of GHG emissions. Assessment ongoing whether Iittala factory will be subject to ETS. Would affect competitiveness, revenues, operating costs, etc.

Technology

Transition risk

Short- and medium-term

Unsuccessful investment in new technologies/costs to transition to lower emissions technology (natural gas).

Costs to transition to lower emissions technology. Could also be Policy and Legal transition event type. Fiskars Group has specific targets to reduce GHG emissions, but it has proven challenging to switch to renewable energy sources e.g in Indonesia.

If costs rise too much, it may affect output of the factory.

Energy source

Opportunity

Short- and medium-term

Adopting lower emission energy

Solar panels

Resource efficiency

Opportunity

Short- and medium-term

Collection of rainwater could decrease the need for utilizing groundwater.

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efficiency through ongoing improvements and targeted investments.

Fiskars Group does not generate any revenue from or have activities that contribute to fossil fuel expansion. Some spending remains on natural gas, for example, but ongoing projects related to the transition plan aim to minimize the Company’s dependence on this fuel. However, some operational dependency on natural gas remains, particularly in glass and ceramics production. Transition projects under the Company’s climate plan aim to minimize this dependency through electrification and renewable energy substitution. For example, the Company has invested in modernizing its factory in Rogaska, Slovenia, to improve its competitiveness. This has led to meaningful reductions in greenhouse gas emissions due to a shift from natural gas to renewable energy sources. For more details, see EU Taxonomy section.

Fiskars Group’s climate transition plan includes a tangible investment plan for reaching the target of reducing Scopes 1 and 2 emissions from the Company’s own manufacturing and distribution centers by 60% by 2030 from the 2017 base year. Fiskars Group also has an initial plan to reduce the GHG emissions from its own factories and distribution centers to as close to zero as possible. The final toolbox for achieving the net-zero target and carbon-neutral production includes beyond-value chain mitigation actions such as carbon removals and neutralization of residual process emissions. In 2025, Fiskars Group did not participate in the removal of GHG emissions from the atmosphere in its own operations or upstream and downstream value chain.

The main decarbonization levers include industrial energy efficiency, building energy efficiency, industrial electrification, use of renewables, and other levers. Priority manufacturing units are glass and ceramic factories.

The climate transition plan depends on investments. Fiskars Group tracks all such investments above EUR 100,000 for potential future Taxonomy alignment, ensuring consistency with financial disclosures. Fiskars Group does not disclose the total planned investment requirement to achieve the 2030 targets, as it is considered sensitive information. There are no plans for specifically aligning related economic activities with the criteria established in Commission Delegated Regulation 2021/2139. For operational

Transition plan for climate change mitigation (own operations)

tCO 2 -eq

Base year emissions

Progress in 2017-2024

Industrial energy efficiciency

Building energy efficiency

expenditure, there is no direct link between EU Taxonomy indicators and the transition plan.

In 2025, Fiskars Group improved its energy efficiency through a range of energy-saving initiatives, resulting in a reduction of 10,200 MWh in energy consumption. These efforts included measures such as optimizing the utilization rate of equipment and shutting down the redundant industrial machines. Additionally, the Company invested in solar power at multiple locations, further supporting its shift from fossil- based to renewable energy. Altogether, these actions have cut annual emissions by 2,366 tonnes of CO 2 e.

Industrial electrification

Use of renewables

Target year 2030

-60%

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Greenhouse gas emissions in the value chain

The purchase of raw materials, components, and finished goods constitute a noticeable portion of Fiskars Group’s value chain emissions. To reduce these emissions, Fiskars Group must partner with the right suppliers, who share the ambition of reducing emissions in line with the Paris Agreement’s most ambitious goals.

Fiskars Group is committed to having 80% of its raw material, component, and finished goods suppliers by spend set science-based targets by 2029. The Company has initiated a call to action and supports its suppliers by engaging with them and providing direct local support, guidance materials, and emissions calculation tools.

To reduce emissions from raw materials, Fiskars Group aims to increase the share of recycled content in its products through its circularity target. This not only reduces emissions but also helps address material scarcity challenges. An example is Fiskars Group’s use of emission-minimized stainless steel when producing Fiskars All Steel frying pans. Emission-minimized stainless steel has a 92% smaller carbon footprint than the global average according to the GHG Protocol Scopes 1–3*.

Fiskars Group is committed to reducing GHG emissions from upstream transportation and distribution (Scope 3) by 30% by 2030 from the

* Figures do not include any carbon offsetting. These calculations aim to be compliant with the ISO 14067:2018 (Greenhouse gases—Carbon footprint of products) standard with certain identified simplifications. The calculations have been reviewed by WSP, the strategic advisory, engineering, and design services consultancy company.

2018 base year. The Company measures and reports its inbound and outbound upstream transportation and distribution emissions annually. The Company collects GHG emission reports directly from its key logistics service providers, enabling it to identify emission hotspots and target reduction opportunities more effectively. Fiskars Group has been improving the efficiency of its logistics by increasing packaging efficiency and reducing delivery frequency.

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E1-4 Targets

Fiskars Group has set near-term targets in 2020, and Scopes 1 and 2, as well as Scope 3, targets have been validated by the SBTi. Fiskars Group is currently in the process of resetting its targets to increase the level of ambition. The new targets have been approved by the Board of Directors and are now undergoing validation by the SBTi. The supplier engagement target was updated during 2025, as the previous SBTi validated target of having 60% of suppliers by spend with science-based targets by the end of 2024 was reached. The updated target until 2029 has been submitted for SBTi validation. These targets have been voluntarily set by Fiskars Group. Targets cover both the Company’s own and suppliers’ emissions by three targets:

Fiskars Group is committed to reducing greenhouse gas emissions from its own operations (Scopes 1 and 2) by 60% by 2030 from a 2017 base year. Scope 2 emissions are calculated with the market-based method and include the GHG emissions required by the GHG Protocol Corporate Standard. The target covers 100% of the Company’s Scopes 1 and 2 emissions.

Fiskars Group is committed to reducing greenhouse gas emissions from upstream transportation and distribution (Scope 3) by 30% by 2030 from a 2018 base year. The target includes the GHG emissions required by the GHG Protocol Corporate Standard. The target covers 100% of the Scope 3 category 4 emissions.

Fiskars Group is committed to 80% of its suppliers by spend covering purchased goods and services having science-based targets by 2029.

In addition to its current near-term targets, Fiskars Group has set a long-term net-zero emission target. The Company plans to reduce climate emissions in its operations and the entire value chain to net-zero by the end of 2049. The net-zero emission target has been submitted for SBTi’s validation. These targets have been voluntarily set by Fiskars Group. Fiskars Group’s climate transition plan and set targets are compatible with the Paris Agreement’s target of limiting global warming to 1.5 °C above pre-industrial levels, as they are aligned with SBTi criteria for the 1.5 °C pathway.

Fiskars Group has not published external milestones or interim targets for its main emissions reduction targets. Fiskars Group’s climate transition plan includes a tangible investment plan for reaching the emission targets, and the reduction levels are continuously monitored and assessed by the ESG Steering Team and reported annually to the Leadership Team and Board of Directors to ensure the Company reaches the set targets. Climate-related targets are developed collaboratively with internal stakeholders and expert consultants. Broader external stakeholder involvement in target-setting has not been part of the process to date. Progress toward the targets is monitored using annually updated GHG inventories reviewed internally and by external assurance providers.

E1-4 Targets

Base year

2017

2025

-62%

-60%

in 2030

Base year

2018

2025

-18%

-30%

in 2030

Target set 2025

2025

72%

80%

in 2029

GHG emissions from own operations (Scope 1 and 2) reduced by 60% by 2030.

GHG emissions from transportation and distribution (Scope 3) reduced by 30% by 2030.

80% of our suppliers by spend covering purchased goods and services will have science-based targets by 2029.

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Accounting policies

Energy consumption

Energy consumption includes both direct and indirect energy use within Fiskars Group’s factories and distribution centers. Direct energy consumption covers non-renewable fuels such as natural gas, light fuel oil, and propane, as well as renewable sources such as biogas, onsite solar power, and geothermal energy. Indirect energy consumption refers to all purchased energy used in the Company’s operations such as electricity and district heating. The reported data is derived from direct measurements based on meter readings and invoices provided by external service partners. For purchased renewable energy, Fiskars Group collects the necessary renewable energy certificates.

High climate- impact sectors

The high climate impact sectors (HCIS) that are used to determine energy intensity are listed as follows. Additionally, a negligible amount of revenue is derived from sectors that are excluded from HCIS categorization, and Fiskars Group has therefore utilized the overall net revenue to determine energy intensity.

A1.7.0 Hunting, trapping, and related service activities

A2 Forestry and logging

C22.26 Manufacture of other plastic products

C23.13 Manufacture of hollow glass

C23.15 Manufacture and processing of other glass

C23.41 Manufacture of ceramic household and ornamental articles

C25.61 Manufacture of cutlery

C25.63 Manufacture of tools

C26.52 Manufacture of watches and clocks

C27.51 Manufacture of electric domestic appliances

C27.9 Manufacture of other electrical equipment

C32 Manufacture of jewelry, bijouterie, and related articles

G 46.34 Wholesale of beverages

G46.37 Wholesale of coffee, tea

G46.41 Wholesale of textiles

G46.43 Wholesale of electrical household appliances

G46.44 Wholesale of china and glassware

G46.47 Wholesale of lighting equipment

G46.48 Wholesale of watches and jewelry

G46.49 Wholesale of other household goods

G47.51 Retail sale of textiles

G47.55 Retail sale of furniture, lighting equipment, tableware, and other household goods

G47.77 Retail sale of watches and jewelry

G47.78 Retail sale of other new goods

G47.79 Retail sale of second-hand goods

G47.9 Intermediation service activities for retail sale

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Biogenic emissions, which are not included in the emissions table, amounted to 266 tonnes of CO 2 eq. These emissions are generated from the biogas used in one of Fiskars Group’s factories and one of Fiskars Group’s distribution centers (53 t CO 2 eq), as well as some of the district heat consumption in the Company’s own factories and distribution centers in Finland and Denmark (213 t CO 2 eq). From the total biogenic emissions, 39 t CO₂eq are related to Scope 1 and 227 t CO₂eq to Scope 2 emissions.

Total GHG emissions by Business Area

Base year

2025

2024

2023

Gross Scope 1 GHG emissions (tCO 2 eq)

BA Fiskars

2,357

1,794

1,247

1,451

BA Vita

40,450

23,679

29,249

29,756

Gross location-based Scope 2 GHG emissions (tCO 2 eq) 2

BA Fiskars

15,273

8,506

8,807

7,480

BA Vita

19,046

14,138

16,514

14,031

Gross market-based Scope 2 GHG emissions (tCO 2 eq)

BA Fiskars

20,465

593

395

443

BA Vita

23,703

7,296

8,759

6,583

Fiskars Group did not engage in any carbon removal or neutralization activities during the reporting year.

2 Fiskars Group has established a combined near-term target for Scope 1 and Scope 2 (market-based) emissions. The milestone and annual progress relative to the base year are reported together, as separate targets for Scope 1 and Scope 2 have not been established.

GHG intensity per net revenue

2025

2024

Total GHG emissions (location-based) per net revenue (tCO 2 eq/EUR Million)

164

169

Total GHG emissions (market-based) per net revenue (tCO 2 eq/EUR Million)

151

155

Net revenue (net sales) information is disclosed in the Financial Statements – Consolidated Income Statement. Specifications on net sales are available under Financial Statements – Notes to the consolidated financial statements – 2 Financial Performance – 2.1 Segment information.

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Accounting policies

Scope 1 GHG emissions

Scope 1 GHG emissions are reported based on the GHG Protocol, and cover all direct emissions from Fiskars Group’s own factories and DCs. One of Fiskars Group’s factories reports under the EU Emission Trading System (ETS), and its Scope 1 emissions are calculated accordingly. For other Fiskars Group locations, Scope 1 emissions are calculated by multiplying the fuel consumption by the corresponding emission factor. Fuel-specific emission factors are provided by Statistics Finland.

Scope 2 GHG emissions

Scope 2 emissions are reported based on the GHG Protocol and include indirect emissions generated from Fiskars Group’s energy purchases in its own factories and distribution centers, i.e., electricity or heat. The emissions are calculated by multiplying the electricity consumption (measured in MWh) by the appropriate emission factor. Market-based emissions are primarily calculated using supplier-specific local grid emission factors, which are collected from each manufacturing unit and distribution center. The Company applies contractual instruments such as Renewable Energy Certificates in calculating market-based Scope 2 emissions. For the reporting year, 27% of the energy was bundled with these contractual instruments. The Company uses CO 2 eq emission factors when possible. Location-based emissions are calculated using average country-specific emission factors published by the International Energy Agency (IEA).

Scope 3 GHG emissions

Scope 3 emissions are reported based on the GHG Protocol, where they are split into 15 categories (C1-C15):

C1 (Purchased goods and services): The supplier- specific method is applied to estimate the Scopes 1 and 2 emissions of finished goods suppliers. In 2024, Fiskars Group collected data from more than 75% of its finished goods suppliers by spend. The average method is applied to estimate emissions associated with input materials, as well as services purchased by Fiskars Group. Fiskars Group uses average emission factors provided by the DEFRA (Department of Environment, Food and Rural Affairs) in the United Kingdom.

C3 (Fuel and energy related activities): To calculate the emissions from fuel and energy-related activities, the average method is used. The annual energy consumption in Fiskars Group’s own factories and distribution centers is multiplied by fuel- and energy-type-specific emission factors provided by the DEFRA in the United Kingdom. This category includes the indirect emissions from fuel extraction, refining, and transportation of upstream energy but not included in Scopes 1 and 2, as well as transmission and distribution losses.

C4 (Upstream transportation and distribution): The GHG emissions from upstream transportation and distribution are calculated primarily using either the GHG emission reports provided by Fiskars Group’s logistic partners or by the distance-based method. In 2025, 94% of Fiskars Group’s transportation emissions were calculated with either of these methods. The remaining 6% was extrapolated by spend to cover all annual transportation emissions.

C5 (Waste generated in operations): To calculate the emissions from waste generated in Fiskars Group’s own factories and distribution centers, the average method is used. The amount of generated waste by category is multiplied by waste-type-specific emission factors provided by the Department of Environment, Food and Rural Affairs in the United Kingdom.

C6 (Business travel): The reported business travel emissions include all air and rail business trips from the Company’s main locations. The emissions are derived from GHG emission reports provided by travel agencies.

C7 (Employee commuting): The average-data method is applied using averages of daily commuting distances, transportation modes, the number of commuting days per week, the average number of weeks worked per year, and Fiskars Group’s headcount.

C8 (Leased assets): The average-data method is applied using the number of leased shops, estimated average floor area per shop and average emissions per square meter.

C11 (Use of sold products): The average-data method is applied using the amount of sold electrical equipment and its estimated lifetime, as well as electricity consumption.

C10 and C14 are not relevant to Fiskars Group and hence not calculated. Categories 2, 9, 12, 13, and 15 have minor impacts and are not included in the emission figures.

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Country

Material site

Australia

Sydney distribution center

Denmark

Georg Jensen smithy

Denmark

Hjørring distribution center

Denmark

Lynge distribution center

Denmark

Royal Copenhagen manufacturing unit

Finland

Billnäs manufacturing unit

Finland

Fiskars Village

Finland

Hämeenlinna distribution center

Finland

Iittala manufacturing unit

Finland

Sorsakoski manufacturing unit

Indonesia

PT Doulton manufacturing unit

Ireland

Waterford manufacturing unit

Poland

Słupsk manufacturing unit

Slovenia

Rogaska manufacturing unit

Thailand

Georg Jensen manufacturing unit

Thailand

Royal Copenhagen manufacturing unit

United Kingdom

Barlaston manufacturing unit

USA

Gerber manufacturing unit

USA

Southaven distribution center

To understand the biodiversity-related risks that apply to the areas in which Fiskars Group operates, and the risks sites should include in their location- specific assessments, the assessment is conducted in three phases:

Annual update of desk research utilizing the WWF Biodiversity Risk Filter, the World Database for Key Biodiversity Areas, and the Natura 2000 platform (specific to European sites). By applying the exact geolocations of the sites, the Company identifies whether a site is in a biodiversity-sensitive area in proximity to sensitive local/regional ecosystems,

presenting potential threats to flora and fauna, or scape-based physical and reputational risks. This information ensures that the coming site-specific assessments include the area’s material risks.

Stakeholder interactions via site-specific environmental assessments surveying local site managers on proximity to biodiversity-sensitive areas, habitat loss and degradation, resource and ecosystem dependencies, and species and pollution impacts.

Analysis of findings to identify trends and emergent issues across operations to enable the prioritization of next steps.

Boundaries

The annually updated Biodiversity Risk Filter Assessment covers a broad range of topics to provide an overview of material issues across Fiskars Group’s operations. The findings are summarized in the following section.

Where complete data cannot be obtained, information from previous environmental and biodiversity assessments are used. Engagement with external stakeholders focuses on tier-one suppliers. No consultations with stakeholders in nearby affected communities have been conducted on sustainability assessments of shared biological resources and ecosystems. Nor has local or indigenous knowledge been included in biodiversity- and ecosystem- related actions.

All material sites are evaluated for biodiversity-related risks and impacts in relation to nearby sensitive areas and dependencies on ecosystem services. The

assessment indicates that further work is required to improve understanding of location-specific risks and site-level ecosystem dependencies, as interdependencies across Company operations and suppliers remain only partly understood.

These topics will be incorporated into future environmental assessments to ensure continued learning and mitigation. Fiskars Group will also evaluate whether to extend the scope to downstream operations, including retail stores and B2B customers.

Biodiversity-sensitive areas

The assessment identifies the nearest biodiversity- sensitive areas to Fiskars Group’s sites, including information about ecosystem type (terrestrial, freshwater, marine), protection status, and relevant biodiversity elements based on the IUCN Red List.

Thirteen assessed sites are located within two kilometers of a protected or conserved area, and four are located directly inside such areas. These include Fiskars Group’s Royal Copenhagen manufacturing unit in Thailand and three supplier sites. The areas of concern are the Lower Central Basin in Thailand (approx. 1,420,000 ha) and the Qingdao–Rizhao coastal wetlands and islands in China (approx. 8,760 ha). There is no indication of significant harm to these areas caused by the activities of the assessed sites.

Accordingly, the risk is considered mitigated, and further actions or activities related to the sites are not currently required. Fiskars Group does not currently monitor biodiversity-specific performance indicators beyond ISO 14001 certification rates, the management

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of 14,000 hectares of sustainably certified forest, and the associated annual carbon sink of approximately 18,000 tonnes of CO₂ equivalent.

Nature-related risks

The assessment identifies risks classified as high to very high in the areas near Fiskars Group’s sites. These fall into four categories:

Pressures on biodiversity

Ecosystem services

Landscape-related physical risks

Reputational risks.

The first three categories reflect physical risks linked to the Company’s dependence on nature and exposure to both natural and human-induced changes in ecosystems. Reputational risks may arise from actual or perceived impacts on nature and people. The identified risks do not necessarily imply direct operational risks for Fiskars Group or its suppliers. Rather, they indicate broader landscape conditions that require careful management to avoid unnecessary business exposure and to prevent contributing further to drivers of biodiversity loss. No material biodiversity-related opportunities were identified in the 2025 assessment.

Pressures on biodiversity

Global assessments highlight land-, freshwater-, and sea-use change, tree cover loss, invasive species, and pollution as the main drivers of biodiversity loss. For Fiskars Group, tree cover loss and pollution are identified as critical, placing sites in high to very high- risk areas.

Tree cover loss is considered very high in Southern Finland, where Fiskars Group owns and manages forests. The main driver is the forest industry, but the Company manages its holdings sustainably, enabling support for the protection of forest biodiversity, preserving habitats, and mitigating tree cover loss risks. These positive contributions are assessed as important but not material under the DMA and are therefore not covered further in this section, except in relation to EU Taxonomy alignment.

Across the value chain, 91% of assessed sites, including Fiskars Group’s own, are in areas at risk of pollution, especially linked to steel, aluminum, ceramics, glass, and plastics manufacturing and related raw-material extraction. All the Company’s own manufacturing sites operate under environmental management systems, 90% of which are ISO 14001-certified. These systems include regular risk assessments and mitigation measures, while suppliers are required to comply with the Fiskars Group Supplier Code of Conduct and are subject to audits. Pollution is therefore not considered significant or critical under the DMA.

Ecosystem services

Fiskars Group and its suppliers depend on ecosystem services that provide raw materials and support production processes such as soil health, water quality and quantity, and air quality. Declines in these services can increase costs, disrupt production, or, in extreme cases, prevent operations.

The highest risk identified is related to water scarcity, especially in East and Southeast Asia, with the

greatest exposure in Thailand where Fiskars Group operates Royal Copenhagen and Georg Jensen factories. The combined drivers are climate change, growing population needs, and water resource development. Risks to forest productivity in Northern and Central Europe are also noted.

Direct inquiries with site managers find no significant harm to local biodiversity from sourcing water or wood. However, potential limitations in water availability or quality could disrupt production and affect local communities. These dependencies will be further examined in location-specific assessments.

Landscape-related physical risks

Natural hazards such as cyclones, landslides, wildfires, and extreme heat can disrupt operations or supply chains, and in severe cases, damage or destroy assets. The assessment identifies tropical cyclones, landslides, extreme heat, and wildfire hazard as high to very high risks across several regions, especially East Asia, where more than half of assessed suppliers are based.

Local initiatives have been undertaken where relevant. For example, Fiskars Group’s Gerber factory in Oregon has supported restoration of native plants along two protected streams to reduce erosion. The Georg Jensen factory in Chiang Mai, Thailand, co-built a check dam with the local community to reduce erosion, store rainwater, and limit wildfire severity. These measures illustrate how landscape risks can be partly mitigated through site-level collaboration.

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The task force has created Fiskars Group’s circularity framework and criteria.

Fiskars Group’s circularity framework focuses on product and service design. The Company aims to design for circularity and longevity, ensuring circularity principles are adhered to wherever possible, while maintaining the high quality of its products.

The framework establishes three options for circular products:

Materials used in the product are completely or partly recycled and/or renewable Depending on the material in question, the framework introduces specific criteria and thresholds that must be adhered to for a product to fulfill this option.

The product design enables repairing The repairability of products is an important aspect for product categories with parts subject to wear, extending the product’s lifetime.

The product is fully recyclable Fiskars Group wants to encourage designing for recyclability, but this option requires that the product also fulfills other circularity principles: In addition to being recyclable, the product must also fulfill one of the first two options.

In addition to the aforementioned product options, Fiskars Group also factors in circular services, that help prolong the life cycle of the products. These services include spare parts, the Vintage service, and repair services such as the Fiskars Pan-Care service and Georg Jensen jewelry and watch repairs.

Fiskars Group’s circularity approach alleviates some of the negative impacts of a resource-intensive, linear business model, while also responding to the increasing demand for circular and long- lasting products and services. However, achieving the Company’s ambitious circularity targets in a commercially viable manner remains a risk. Securing the required raw materials, infrastructure, and changing ways of working requires human and monetary capital.

Alternative materials

Fiskars Group requires a significant amount of resources for its operations. To decrease environmental impacts, the Company strives to find and secure alternative materials to replace virgin or fossil-based raw materials. During 2025, Fiskars Group was audited for the Global Recycled Standard (GRS) and Recycled Claim Standard (RCS) certifications. Fiskars Group wishes to implement the GRS and RCS certifications to enhance the tracking and tracing of recycled input materials, and provide consumers with robust and assured information about products to enable informed decisions. All parties involved in the full supply chain must be certified to utilize the certifications.

Although several new circular materials can currently be utilized, new materials may also limit the durability, usability, and functionality of products. For example, finding the right composition for recycled plastics and other materials can be more complicated than with uniform virgin materials. New material compositions may not always be sufficiently strong to meet Fiskars Group’s standards in terms of functionality

and durability, and are therefore not chosen for the products. The overall design and use case of the product affects the balance between virgin and circular materials, and ensures its quality and safety.

Minimizing waste

Internal recycling at the Company’s own factories is deployed whenever possible. For example, Fiskars Group’s manufacturing unit PT Doulton in Indonesia has pioneered feeding fired ceramic waste back into its manufacturing process since 2021. The fired ceramic waste was previously sent to landfill, but with this innovation, the manufacturing unit has been able to eliminate its landfill waste and recirculate the material in its own operations. This has also sparked development projects around the topic at other manufacturing units. Improving resource efficiency in this way and finding ways of scaling it provide good opportunities for the Company. In 2025, new brands such as Moomin Arabia have started utilizing this type of recirculated ceramic in their offering.

Fiskars Group acknowledges waste generated in its value chain has environmental impacts in addition to that of its own operations. The Company plans to initiate the gathering of more information about this matter from its partners in the coming years.

Partnerships

The circular economy requires partnerships. To learn from peers and find new collaboration opportunities, Fiskars Group joined a circular economy network in Finland in 2024 and continued as an active member in 2025. The network brings together different industries and researchers.

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Fiskars Group strives to design products so that they last as long as possible. Industry averages to assess product durability may be utilized for benchmarking if available, but not systematically, as they are not feasible for many products. For example, in the case of tableware, the products do not lose their functionality unless they are dropped or otherwise broken in some way. As such, it is difficult to determine or use industry averages, as the products may be utilized for generations. Fiskars Group conducts extensive quality testing for products in its laboratories to assess durability. Fiskars Group offers extended or additional warranties* for multiple products and product categories. Examples include:

The Fiskars brand offers an extended 25- year warranty for certain products such as Norden Axes, PowerGear™ X Cutting Tools, and Classic Scissors.

In the US, the Fiskars brand offers an extended warranty that is valid from the date of retail purchase for as long as the original end-user purchaser or giftee owns the product (the “Warranty Period”).

For example, in the event that porcelain or crystal is broken or chipped, some brands offer breakage warranties for 12–24 months from the date of purchase. Brands offering breakage warranties include Georg Jensen, Royal Copenhagen, Waterford, and Wedgwood.

* Full terms and conditions regarding warranty information can be found on the brand websites. Breakage warranties do not affect buyers’ rights under consumer law.

Repairability of products

The repairability of products plays an important role in designing products that last. In addition to designing products in this way, creating and offering repair services are of central importance, as well as providing instructions for end-users on how to care for their products.

Since 2021, the Fiskars brand has offered a pan- recoating service that enables restoring frying pans with a ceramic coating, and Georg Jensen provides repair services for jewelry and watches. For products with wearable parts, such as gardening or landscaping tools, Fiskars Group strives to offer spare parts. For various product categories such as cooking knives, scissors, and axes, sharpening tools are also provided.

Recyclable content

The recyclability of products and materials on a global level is a complex topic, as the available recycling infrastructure and services differ regionally. Generally, at a global scale, the most recycled materials are metals such as aluminum and steel, precious metals such as gold and silver, paper, and carton and cardboard. The rate of recyclable content (metals and precious metals) in products manufactured by Fiskars Group during 2025 was approximately 60% (2024: 59%). Regarding packaging, the rate of recyclable content (paper, carton, and corrugated cardboard) has improved to approximately 88% in 2025 (2024: 80%).

Accounting policies

Recyclable content in products

The rate of recyclable content in products has been calculated based on information gathered on products manufactured in Fiskars Group’s own manufacturing units during 2025. The figures include materials used to make the final products reported by Fiskars Group’s factories. Data is reported by weight. The amounts of steel, aluminum, brass, gold, and silver utilized in these products have been divided by the total weight of products manufactured on Fiskars Group’s manufacturing sites. The materials utilized for the calculation are globally widely recyclable. This does not exclude other materials utilized by Fiskars Group being recyclable. The recyclability of these materials is the key assumption used for calculating the recyclable content in products. Due to differences between the manufacturing sites, calculation methodologies may differ. For example, one of the sites mainly gathers information about purchased materials, and has used an assumption of the amount of scrap generated per material for this calculation to decipher the amount of materials used in the products manufactured.

Recyclable content in packaging

The rate of recyclable content in packaging has been calculated utilizing the Company’s packaging materials inventory in 2025. The materials include paper, corrugated cardboard, and carton. The recyclability of these materials is the key assumption used for calculating the recyclable content in packaging. Data is reported by weight, and the weight of materials from the inventory has been divided by the total weight of packaging materials in the inventory during 2025.

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Waste

Waste is generated throughout Fiskars Group’s value chain, from manufacturing of products to packaging. Most of the waste consists of production scrap, including metal, clay, and glass, which are key waste streams relevant to the sector in which Fiskars Group operates. Additionally, waste includes general operational waste and waste from maintenance activities.

Total solid waste

Tonnes

2025

2024

2023

2017

Total hazardous waste 1

620

964

1,446

625

Total non-hazardous waste

8,376

9,666

9,341

17,872

Total amount of waste generated

8,996

10,629

10,787

18,497

Total amount of non- recycled waste

1,197

1,748

2,999

4,526

Percentage of non-recycled waste

13%

16%

28%

24%

1 No radioactive waste is generated in Fiskars Group’s operations.

Hazardous waste

Tonnes

2025

2024

2023

2017

Preparation for reuse

0

0

7

1

Recycling

31

19

298

365

Other recovery operations

25

85

147

23

Total waste diverted from disposal

56

104

452

389

Incineration

129

121

47

142

Landfill

198

471

329

2

Other disposal operations

236

267

618

92

Total waste diverted to disposal

563

860

994

236

Total hazardous waste

620

964

1,446

625

Non-hazardous waste

Tonnes

2025

2024

2023

2017

Preparation for reuse

113

122

122

4,307

Recycling

7,079

7,334

7,334

8,547

Other recovery operations

551

1,322

1,322

728

Total waste diverted from disposal

7,743

8,777

8,777

13,582

Incineration

5

23

23

150

Landfill

355

340

340

3,953

Other disposal operations

272

525

525

187

Total waste diverted to disposal

633

888

888

4,290

Total non-hazardous waste

8,376

9,666

9,666

17,872

Accounting policies

Waste data is collected monthly based on invoices from external waste-treatment partners, all of whom hold the necessary permits for waste treatment or disposal. The reported data is derived from direct measurements.

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for meeting ISO 45001 standards. The manual was developed in collaboration with the Health & Safety Teams at the factories and distribution centers to establish minimum standards that are relevant to Fiskars Group operations.

The manual ensures compliance with multisite certification requirements, integrating all components into one system for efficient management. Centralized and site-specific activities such as internal audits and corrective actions are coordinated under this model, facilitating streamlined operations and audits.

The Fiskars Group Recruitment and Resourcing Policy ensures fair, transparent, and consistent recruitment and selection processes across the organization. The policy is designed to deliver a consistent candidate experience that aligns with the Company’s strategic objectives, while upholding principles of equality and diversity. It supports equal opportunity across all recruitment activities and ensures adherence to applicable laws and regulations.

The Fiskars Group Data Privacy Policy outlines the principles governing the processing of personal data. It covers the collection, storage, disclosure, usage, retention, and discarding of personal data, ensuring compliance with global data-protection standards. The policy applies to any data processing, including collection, distribution, disclosure, storage, and any other use of personal data. This policy is mandatory within Fiskars Group.

The Fiskars Group Travel Policy promotes responsible and secure travel practices, along with the equitable practice on work-related travel and reimbursement.

The Fiskars Group’s Human Rights Statement expresses the Company’s commitment to upholding human rights as an integral part of responsible and sustainable business growth. The approach to human rights is outlined in the Fiskars Group Code of Conduct, Supplier Code of Conduct, Employment Policy, Human Rights Statement, and other relevant policies, emphasizing respect and equality for all individuals with whom the Company engages. The approach to ensuring Human Rights in Fiskars Group operations is further described in G1 Business Conduct, Remediation and whistleblowing channel .

Fiskars Group’s policies are built on a strong commitment to internationally recognized human rights, for the Company’s own workforce and workers in the value chain. Fundamental labor rights, including freedom of association and collective bargaining, must be upheld in all operations. The Company is committed to eliminating all forms of discrimination, including discrimination in employment and occupation, and forced labor. Fiskars Group has zero tolerance for child labor and forced labor, and ensures vulnerable workers are safeguarded from abuse and exploitation, regardless of employment contract or immigration status. These rights are addressed in the Fiskars Group Code of Conduct as the foundation of how to conduct business and are further elaborated in the Employment Policy.

The Company does not allow working conditions or treatment that contravene basic human rights or put workers at safety risk. Fiskars Group’s approach to engagement with its own workforce is detailed in S1-2 Engagement with the Company’s own employees .

Fiskars Group aligns its practices with key international frameworks, including the International Bill of Human Rights, the UN Guiding Principles on Business and Human Rights, the International Labour Organization’s Declaration on Fundamental Principles and Rights at Work, the Organization for Economic Co-Operation and Development (OECD) Guidelines for Multinational Enterprises, and the United Nations Global Compact principles. The Company actively supports the values, freedoms, and fundamental rights promoted in these texts and remains committed to continuously learning from and adapting to the evolution of human rights.

S1-2 Engagement with the Company’s own employees

Fiskars Group is committed to creating a workplace where everyone feels valued and supported. The Company actively engages its workforce in shaping the work environment by continuously utilizing mechanisms for communication, feedback, and specific initiatives. Engagement with worker councils and employee representatives takes place regularly in accordance with regulatory requirements and local practices. Employee representatives participate in regular Health & Safety committee meetings at the factories and distribution centers to ensure dialog

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regions of Asia, America, and Europe, where Fiskars Group has factories or distribution centers. By focusing on these factors, Fiskars Group is better equipped to address and mitigate risks, tailoring interventions to the unique needs of these contexts. Making health and safety a primary priority has a positive impact on the workforce and provides an opportunity to strengthen the Company’s existing image and attract new talent.

The Company has dedicated health and safety resources, both within the BA QEHS functions and at operational level, to ensure compliance with the policy and compliance with ongoing safety measures. The policy is owned at Company level, which further ensures mitigating actions via the network of Health and Safety Teams in both of the Business Areas. Employees, contractors, and leaders are involved in shaping safety targets to ensure they are realistic, actionable, and representative of diverse workplace needs.

All employees receive training in the Fiskars Group Health and Safety Policy as part of their induction training are actively involved in reporting and preventing safety hazards, trained to carry out their duties, and empowered to stop work if concerned about safety. Initial risk assessments for new machinery or work processes are carried out to identify new risks and review existing risk assessments to determine the effectiveness of the implemented controls.

All incidents are investigated and analyzed to identify opportunities to improve health and safety at work. Following any incident or observed hazard, selected

measures are identified in accordance with the hierarchy of controls to decrease or eliminate the exposure. The effectiveness of the Health and Safety Management System is monitored via the global target of zero harm, as well as internal Business Area targets for safety key performance indicators.

For the past eight years, Fiskars Group has organized a Company-wide annual Safety Week to engage in continuous improvement of the safety culture. In 2025, Fiskars Group celebrated its 8th annual Safety Week from September 15–19 under the theme “See the Risk. Protect What Matters. Start with You.” The week highlighted the Company’s commitment to strengthening safety culture across factories, distribution centers, retail shops, and offices, reminding us that safety begins with each of employee, every day.

At Fiskars Group, the core strength is its people, and the culture is built on diversity, equity, and inclusion (DEI). The goal is to create an inclusive open working environment where everyone can grow, make a meaningful contribution, and feel that they belong. Fiskars Group prioritizes initiatives that enhance employee wellbeing and inclusion, while also fostering opportunities to maintain a strong Company reputation. Fiskars Group’s Company culture aims to foster a positive workplace that prioritizes inclusivity and collaboration. The Company offers career- development programs, mentorship opportunities, and parental leave policies designed to support work-life balance. The commitment is supported by dedicated resources within the HR organization and targeted investments in workforce-related initiatives,

including funding for mental health programs, diversity, equity, and inclusion (DEI) training. Additionally, specialized roles such as DEI leaders and health and safety officers are in place to further advance and oversee these efforts.

Fiskars Group is committed to identifying and controlling employees’ exposure to physically demanding tasks. Vulnerable employees such as new or young employees, aging employees, expectant mothers, and employees with disabilities are included in the H&S Risk Assessments and must receive special protection in their work if required. This commitment is ensured via the Fiskars Group Code of Conduct and the Employment Policy and Recruitment and Resourcing Policy, and is enhanced through Code of Conduct and DEI training. The positive impact is amplified by Fiskars Group’s efforts for a fair, equitable, and inclusive workplace as described in Diversity metrics. These positive impacts relate to the Company’s entire own workforce, not to any specific groups.

The impact of the actions is evaluated using KPIs (see more in S1-5 Targets ), including employee engagement scores, inclusion experience, diversity in leadership, and workplace safety reporting and metrics. For example, monthly safety reports are shared among internal stakeholders and discussed in leadership meetings and safety committees for evaluation and development actions.

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Financial statements

Report by the Board of Directors

year 2025

sustainability statement

Information on employees by contract type and gender

Female

Male

Other

Total

Contract Type

2024

2025

2024

2025

2024

2025

2024

2025

Number of employees (head count)

3,878

3,748

2,971

2,844

2

2

6,851

6,594

Number of permanent employees (head count)

3,245

3,122

2,828

2,712

2

2

6,075

5,836

Number of temporary employees (head count)

345

342

110

91

0

0

455

433

Number of non-guaranteed hours employees (head count)

288

284

33

41

0

0

321

325

Information on employees by region

Europe

Asia-Pacific

North America

Total

Contract Type

2024

2025

2024

2025

2024

2025

2024

2025

Number of employees (head count)

3,303

3,238

3,033

2,869

515

485

6,851

6,594

Number of permanent employees (head count)

2,956

2,888

2,607

2,465

512

483

6,075

5,836

Number of temporary employees (head count)

258

252

194

177

3

2

455

433

Number of non-guaranteed hours employees (head count)

89

98

232

227

0

0

321

325

Total number of employees who have left the undertaking during the reporting period

During the 2025 reporting period, a total of 1,201 (2024: 1,421) people left the Company. Employee turnover was 18% (2024: 20.7%).

S1-7 Non-employees in own workforce

Non-employees

2024*

2025

Self-employed

63

Non self-employed

435

* Data collection for this disclosure was initiated for the 2025 reporting. Thus, comparable data is not yet available.

Non-employee workers have been identified as including:

Contractors: Self-employed individuals or businesses

Agency staff: Non-employees hired through staffing agencies

Gig workers: Non-employees performing task- based and short-term work

Seconded personnel: Non-employees temporarily assigned from another company, and

Outsourced workers: Non-employees employed by an external company working on our sites or projects.

Non-employee data has been stored and maintained by local HR departments, which has in turn been consolidated at a global level. Implementing standardized data collection practices across all regions ensured consistency and reliability in the data collection process.

Auditor’s report

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Financial statements

Report by the Board of Directors

year 2025

sustainability statement

S1-8 Collective bargaining coverage and social dialog

A total of 45% of Fiskars Group employees globally were covered by collective bargaining agreements. Collective agreements within the EEA vary by region and according to each country’s standards.

The Company’s own workforce in regions (non-EEA) covered by collective bargaining and social dialog agreements by coverage rate and by region, where the Company has significant employment of above 50 employees constituting 10% of the total workforce. Fiskars Group has no agreements in place with employees for representation by a European Works Council (EWC), a Societas Europaea (SE) Works Council, or a Societas Cooperativa Europaea (SCE) Works Council.

Collective Bargaining Coverage

Social Dialog

Coverage Rate

Employees—EEA (for countries with >50 empl. representing >10% total empl.)

Employees—Non-EEA (estimate for regions with >50 empl. representing >10% total empl.)

Workplace representation (EEA only) (for countries with >50 empl. representing >10% total empl.)

2024*

2025

2024*

2025

2024*

2025

0–19%

APAC

20–39%

40–59%

60–79%

80–100%

Finland

Finland

* Data collection for this disclosure was initiated for the 2025 reporting. Thus, comparable data is not yet available.

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99

Financial statements

Report by the Board of Directors

year 2025

sustainability statement

Accounting policies

Incident data is scoped and consolidated at the Company level, ensuring that Fiskars Group accounts for 100% of injuries across all operations, including factories, distribution centers, retail locations, and offices. Fiskars Group utilizes a safety reporting tool for collecting all accidents, near misses, and safety observations. The tool is available for all Fiskars Group employees.

Recordable work-related injuries include all workplace accidents except those that require first-aid treatment. These accidents include all lost time accidents, accidents leading to restricted work, or transferred job and medical treatment cases.

Lost Time Accidents (LTA) are recorded in the Safety Reporting System to measure the impact of workplace incidents. To ensure data accuracy and consistency, the following rule applies: A maximum of 50 days lost is recorded per accident in the Safety Reporting System. This cap is necessary because in some cases, employees may not return to work due to resignation, retirement, or other reasons, while remaining on the payroll. Without a cap, the data could reflect several hundred lost days, which would not accurately represent the incident’s operational impact. Human Resources (HR) retains the official personnel file and maintains the full record of an employee’s absence,

including the actual total number of days off work, regardless of the Safety Reporting System cap. The Safety Reporting System figure is therefore used only for safety performance reporting, while HR records remain the legal and contractual record of absence.

Employee, and health and safety metrics are not continuously verified by external partners, but are included in internal quality, environment, and Health and Safety Management System audits. Reported gender pay gap is calculated as an average gross hourly pay due to lack of full hourly pay information.

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Report by the Board of Directors

year 2025

sustainability statement

supply chain and does not include direct input from value chain workers or their representatives. The suppliers are involved in tracking their own performance in audits and corrective actions, as well as identifying improvement opportunities.

The first KPI relates to finished goods spend with low-risk suppliers. The annual global spend with suppliers either from low-risk countries or receiving a low-risk result in the latest audit is set at 80%. This is the percentage of annual global spend with suppliers either a) from low-risk countries or b) who received a low-risk result in the latest audit. Below low-risk, the results can be medium-risk, high-risk, or fail. Medium-risk is also acceptable, depending on supplier improvement actions which are closely followed by the lead auditor. This internal target reflects a risk-based approach to managing the supply chain, which is essential for protecting workers. It allows the Company to focus resources on the most critical areas and proactively prevent a negative impact rather than reacting to incidents. By setting a target of 80% spend with suppliers from low-risk countries or those rated low-risk in audits, the Company actively steers procurement toward suppliers with stronger labor standards and better working conditions. This reduces the risk of worker exploitation, unsafe environments, or labor rights violations.

The second KPI relates to fail audit results resulting from a zero-tolerance finding due to a score below 60% and/or any zero-tolerance finding. The target level for this KPI is always zero. By setting the internal target for zero-tolerance audit failures at zero, the

Company sends a strong signal that serious violations of labor standards such as forced and child labor, or unsafe working conditions will not be accepted in any circumstances. This protects workers from the most harmful practices. A score below 60% or any zero-tolerance finding triggers a fail, which leads to corrective actions, or suspension or termination of the supplier relationship. This enforces accountability and encourages Fiskars Group suppliers to maintain high standards for workers in the value chain. The internal target acts as a preventive measure, ensuring that suppliers are aware of the consequences of non-compliance, and supports proactive monitoring, helping identify and address risks before they escalate into serious harm for workers.

Both KPIs are internally updated monthly, and the updated result is shared in business reviews with the Supply Chain Leadership Teams.

Auditor’s report

Other financial information

108

Financial statements

Report by the Board of Directors

year 2025

sustainability statement

The New Product Development process drives and executes the new product development projects according to internal targets and criteria, as well as legal requirements and risk management. The process defines cross-functional ways of working in the development of new products, including packaging, labeling, and product information for consumers and end-users, and takes into account the most stringent legal and internal requirements.

The Fiskars Group Environmental Policy describes the environmental principles that are essential for the development and production of the Company’s products. This policy supports the Company’s sustainability commitment, provides the framework for managing potential or actual environmental impacts and mitigating the risks. By increasing environmental awareness within the Company, the policy supports decision-making to deliver on the Company’s ambition of offering safe and durable products and seize the opportunity to develop global sustainable practices for product and packaging design.

The Fiskars Group Product Recall Policy is designed to guide Fiskars Group in the event of a potential compliance issue in the market place. The objective is to protect the customer and ensure compliance with the relevant product safety regulations. The scope of the document covers all product categories and all Fiskars Group brands. The Recall Policy is applicable to any Fiskars Group product which has been sold to/ transferred ownership to a third party.

The Fiskars Group circularity framework focuses on product and service design. The Company aims to design for circularity and longevity, ensuring circularity principles are adhered to wherever possible, while maintaining the high quality of its products. The framework is further described in E5 Resource use and circular economy .

The Fiskars Group Guideline for Recycled Plastics seeks to promote the use of recycled plastic without compromising the chemical compliance of the final product, given that special attention needs to be paid to the use of environmental claims such as claims on recycled content. The guideline defines the specific requirements for recycled plastics to guide decision- makers toward increased use of recycled plastics.

The Fiskars Group Privacy Policy discloses how the Company processes personal data. Fiskars Group is committed to conducting responsible and professional engagement with consumers and end- users by ensuring that the human-rights aspects of data privacy are respected, and that legal and contractual data privacy requirements are complied with throughout the organization in respect of consumers, end-users, customers, and other visitors who use the Company’s websites or engage with the Company in other channels.

The Antitrust Policy aims to protect free and unrestricted competition between all players at all levels of the supply chain for the ultimate benefit of the consumer in terms of better pricing, choice, innovation, and quality by setting standards for Fiskars Group employees to work by. The policy was

updated in May 2025 and was implemented for all office employees through mandatory online training.

Fiskars Group is fully committed to responsible marketing and communication. The Fiskars Group Marketing Policy defines the basic principles for all marketing communications throughout Fiskars Group, as marketing and communications help inform consumers and end-users about the benefits of Fiskars Group’s products and services, and engage with consumers on issues that matter to them. The policy applies to all marketing activities and communication formats such as online and direct marketing, shopper marketing, events, and other professional promotions and communications.

The Marketing Policy outlines the Company’s commitment to only making claims and statements which are legal, decent, and truthful, and which do not include misleading facts or statements, as well as respecting human dignity, and not inciting or condoning any form of discrimination, including based upon race, national origin, religion, gender, age, disability, or sexual orientation. The policy follows the International Chamber of Commerce (ICC) in assuring that all environmental claims in marketing are clear and appropriately substantiated by sound scientific evidence.

Auditor’s report

Other financial information

111

Financial statements

Report by the Board of Directors

year 2025

sustainability statement

Datapoints that derive from other EU legislation

ESRS 2 Appendix B: List of datapoints in crosscutting and topical standards that derive from other EU legislation

Disclosure requirement and related datapoint

SFDR (9) reference

Pillar 3 (24) reference

Benchmark Regulation (10) reference

EU Climate Law (11) reference

Section

ESRS 2 GOV-1 Board’s gender diversity paragraph 21 (d)

Indicator number 13 Table #1 of Annex 1

Commission Delegated Regulation (EU) 2020/181612 , Annex II

ESRS 2 General Disclosures, Governance

ESRS 2 GOV-1 Percentage of board members who are independent paragraph 21 (e)

Delegated Regulation (EU) 2020/1816, Annex II

ESRS 2 General Disclosures, Governance

ESRS 2 GOV-4 Statement on due diligence paragraph 30

Indicator number 10 Table #3 of Annex 1

ESRS 2 General Disclosures, Governance

ESRS 2 SBM-1 Involvement in activities related to fossil fuel activities paragraph 40 (d) i

Indicators number 4 Table #1 of Annex 1

Article 449a Regulation (EU) No 575/2013; Commission Implementing Regulation (EU) 2022/245313

Table 1: Qualitative information about Environmental risk and Table 2: Qualitative information about Social risk

Delegated Regulation (EU) 2020/1816, Annex II

Not material (stated in E1 Climate Change, Actions)

ESRS 2 SBM-1 Involvement in activities related to chemical production paragraph 40 (d) ii

Indicator number 9 Table #2 of Annex 1

Delegated Regulation (EU) 2020/1816, Annex II

Not material

ESRS 2 SBM-1 Involvement in activities related to controversial weapons paragraph 40 (d) iii

Indicator number 14 Table #1 of Annex 1

Delegated Regulation (EU) 2020/181814 , Article 12(1) Delegated Regulation (EU) 2020/1816, Annex II

Not material

ESRS 2 SBM-1 Involvement in activities related to cultivation and production of tobacco paragraph 40 (d) iv

Delegated Regulation (EU) 2020/1818, Article 12(1) Delegated Regulation (EU) 2020/1816, Annex II

Not material

ESRS E1-1 Transition plan to reach climate neutrality by 2050 paragraph 14

Regulation (EU) 2021/1119, Article 2(1)

E1 Climate change

ESRS E1-1 Undertakings excluded from Paris-aligned Benchmarks paragraph 16 (g)

Article 449a Regulation (EU) No 575/2013; Commission Implementing Regulation (EU) 2022/2453 Template 1: Banking book Climate Change transition risk: Credit quality of exposures by sector, emissions, and residual maturity

Delegated Regulation (EU) 2020/1818, Article 12.1(d) to (g), and Article 12.2

Not material (stated in E1 Climate Change, Actions)

Auditor’s report

Other financial information

121

Financial statements

Report by the Board of Directors

year 2025

sustainability statement

Disclosure requirement and related datapoint

SFDR (9) reference

Pillar 3 (24) reference

Benchmark Regulation (10) reference

EU Climate Law (11) reference

Section

ESRS E1-4 GHG emission reduction targets paragraph 34

Indicator number 4 Table #2 of Annex 1

Article 449a Regulation (EU) No 575/2013; Commission Implementing Regulation (EU) 2022/2453 Template 3: Banking book — Climate change transition risk: alignment metrics

Delegated Regulation (EU) 2020/1818, Article 6

E1 Climate change, Targets

ESRS E1-5 Energy consumption from fossil sources disaggregated by sources (only HCIS) paragraph 38

Indicator number 5 Table #1 and Indicator n. 5 Table #2 of Annex 1

E1 Climate change, Targets

ESRS E1-5 Energy consumption and mix paragraph 37

Indicator number 5 Table #1 of Annex 1

E1 Climate change, Energy consumption

ESRS E1-5 Energy intensity associated with activities in HCIS paragraphs 40 to 43

Indicator number 6 Table #1 of Annex 1

E1 Climate change, Energy consumption

ESRS E1-6 Gross Scope 1, 2, 3 and Total GHG emissions paragraph 44

Indicators number 1 and 2 Table #1 of Annex 1

Article 449a; Regulation (EU) No 575/2013; Commission Implementing Regulation (EU) 2022/2453 Template 1:

Banking book — Climate change transition risk: Credit quality of exposures by sector, emissions and residual maturity

Delegated Regulation (EU) 2020/1818, Article 5(1), 6 and 8(1)

E1 Climate change, Greenhouse gas emissions

ESRS E1-6 Gross GHG emissions intensity paragraphs 53 to 55

Indicators number 3 Table #1 of Annex 1

Article 449a Regulation (EU) No 575/2013; Commission Implementing Regulation (EU) 2022/2453 Template 3: Banking book — Climate change transition risk: alignment metrics

Delegated Regulation (EU) 2020/1818, Article 8(1)

E1 Climate change, Greenhouse gas emissions

ESRS E1-7 GHG removals and carbon credits paragraph 56

Regulation (EU) 2021/1119, Article 2(1)

E1 Climate change, Greenhouse gas emissions

ESRS E1-9 Exposure of the benchmark portfolio to climate- related physical risks paragraph 66

Delegated Regulation (EU) 2020/1818, Annex II Delegated Regulation (EU) 2020/1816, Annex II

Voluntary, omitted 2025

ESRS E1-9 Disaggregation of monetary amounts by acute and chronic physical risk paragraph 66 (a) ESRS E1-9 Location of significant assets at material physical risk paragraph 66 (c).

Article 449a Regulation (EU) No 575/2013; Commission Implementing Regulation (EU) 2022/2453 paragraphs 46 and 47; Template 5: Banking book— Climate change physical risk: Exposures subject to physical risk.

Voluntary, omitted 2025

ESRS E1-9 Breakdown of the carrying value of its real estate assets

Article 449a Regulation (EU) No 575/2013;

Voluntary, omitted 2025

Auditor’s report

Other financial information

122

Financial statements

Report by the Board of Directors

year 2025

sustainability statement

Disclosure requirement and related datapoint

SFDR (9) reference

Pillar 3 (24) reference

Benchmark Regulation (10) reference

EU Climate Law (11) reference

Section

by energy efficiency classes paragraph 67 (c).

Commission Implementing Regulation (EU) 2022/2453 paragraph 34; Template 2: Banking book—Climate change transition risk: Loans collateralized by immovable property— Energy efficiency of the collateral

Voluntary, omitted 2025

ESRS E1-9 Degree of exposure of the portfolio to climate-related opportunities paragraph 69

Delegated Regulation (EU) 2020/1818, Annex II

Voluntary, omitted 2025

ESRS E2-4 Amount of each pollutant listed in Annex II of the EPRTR Regulation (European Pollutant Release and Transfer Register) emitted to air, water, and soil, paragraph 28

Indicator number 8 Table #1 of Annex 1 Indicator number 2 Table #2 of Annex 1 Indicator number 1 Table #2 of Annex 1 Indicator number 3 Table #2 of Annex 1

Not material

ESRS E3-1 Water and marine resources paragraph 9

Indicator number 7 Table #2 of Annex 1

Not material

ESRS E3-1 Dedicated policy paragraph 13

Indicator number 8 Table #2 of Annex 1

Not material

ESRS E3-1 Sustainable oceans and seas paragraph 14

Indicator number 12 Table #2 of Annex 1

Not material

ESRS E3-4 Total water recycled and reused paragraph 28 (c)

Indicator number 6.2 Table #2 of Annex 1

Not material

ESRS E3-4 Total water consumption in m 3 per net revenue on own operations paragraph 29

Indicator number 6.1 Table #2 of Annex 1

Not material

ESRS 2- IRO 1 - E4 paragraph 16 (a) i

Indicator number 7 Table #1 of Annex 1

E4 Biodiversity and ecosystems, Introduction to topic

ESRS 2- IRO 1 - E4 paragraph 16 (b)

Indicator number 10 Table #2 of Annex 1

E4 Biodiversity and ecosystems, Introduction to topic

ESRS 2- IRO 1 - E4 paragraph 16 (c)

Indicator number 14 Table #2 of Annex 1

E4 Biodiversity and ecosystems, Introduction to topic

ESRS E4-2 Sustainable land / agriculture practices or policies paragraph 24 (b)

Indicator number 11 Table #2 of Annex 1

E4 Biodiversity and ecosystems, Approach and policies

ESRS E4-2 Sustainable oceans / seas practices or policies paragraph 24 (c)

Indicator number 12 Table #2 of Annex 1

E4 Biodiversity and ecosystems, Approach and policies

ESRS E4-2 Policies to address deforestation paragraph 24 (d)

Indicator number 15 Table #2 of Annex 1

E4 Biodiversity and ecosystems, Approach and policies

ESRS E5-5 Non-recycled waste paragraph 37 (d)

Indicator number 13 Table #2 of Annex 1

E5 Resource use and circular economy, Resource outflows

ESRS E5-5 Hazardous waste and radioactive waste paragraph 39

Indicator number 9 Table #1 of Annex 1

E5 Resource use and circular economy, Resource outflows

Auditor’s report

Other financial information

123

Financial statements

Report by the Board of Directors

year 2025

sustainability statement

Disclosure requirement and related datapoint

SFDR (9) reference

Pillar 3 (24) reference

Benchmark Regulation (10) reference

EU Climate Law (11) reference

Section

ESRS 2- SBM3 - S1 Risk of incidents of forced labor paragraph 14 (f)

Indicator number 13 Table #3 of Annex I

Not material

ESRS 2- SBM3 - S1 Risk of incidents of child labor paragraph 14 (g)

Indicator number 12 Table #3 of Annex I

Not material

ESRS S1-1 Human rights policy commitments paragraph 20

Indicator number 9 Table #3 and Indicator number 11 Table #1 of Annex I

S1 Own workforce, Approach and policies

G1 Business conduct, Management of relationships with suppliers

ESRS S1-1 Due Diligence Policies on issues addressed by the fundamental International Labour Organisation Conventions 1 to 8, paragraph 21

Delegated Regulation (EU) 2020/1816, Annex II

S1 Own workforce, Approach and policies

G1 Business conduct, Business conduct policies and corporate culture

ESRS S1-1 processes and measures for preventing trafficking in human beings paragraph 22

Indicator number 11 Table #3 of Annex I

ESRS G1 Business conduct, Business conduct policies and corporate culture

ESRS S1-1 workplace accident prevention policy or management system paragraph 23

Indicator number 1 Table #3 of Annex I

S1 Own workforce, Approach and policies

ESRS S1-3 grievance/complaints handling mechanisms paragraph 32 (c)

Indicator number 5 Table #3 of Annex I

S1 Own workforce, Process to remediate negative impacts

G1 Business Conduct, Remediation and Whistleblowing channel

ESRS S1-14 Number of fatalities and number and rate of work-related accidents paragraph 88 (b) and (c)

Indicator number 2 Table #3 of Annex I

Delegated Regulation (EU) 2020/1816, Annex II

S1 Own workforce, Health and safety metrics

ESRS S1-14 Number of days lost to injuries, accidents, fatalities or illness paragraph 88 (e)

Indicator number 3 Table #3 of Annex I

S1 Own workforce, Health and safety metrics

ESRS S1-16 Unadjusted gender pay gap paragraph 97 (a)

Indicator number 12 Table #1 of Annex I

Delegated Regulation (EU) 2020/1816, Annex II

S1 Own workforce, Compensation metrics

ESRS S1-16 Excessive CEO pay ratio paragraph 97 (b)

Indicator number 8 Table #3 of Annex I

S1 Own workforce, Compensation metrics

ESRS S1-17 Incidents of discrimination paragraph 103 (a)

Indicator number 7 Table #3 of Annex I

G1 Business Conduct, Remediation and Whistleblowing channel

ESRS S1-17 Non-respect for UNGPs on Business and Human Rights and OECD paragraph 104 (a)

Indicator number 10 Table #1 and Indicator n. 14 Table #3 of Annex I

Delegated Regulation (EU) 2020/1816, Annex II Delegated Regulation (EU) 2020/1818 Art 12 (1)

G1 Business Conduct, Remediation and Whistleblowing channel

ESRS 2- SBM3 – S2 Significant risk of child labor or forced labor in the value chain paragraph 11 (b)

Indicators number 12 and n. 13 Table #3 of Annex I

S2 Workers in the value chain, Introduction to topic

Auditor’s report

Other financial information

124

Financial statements

Report by the Board of Directors

year 2025

sustainability statement

Disclosure requirement and related datapoint

SFDR (9) reference

Pillar 3 (24) reference

Benchmark Regulation (10) reference

EU Climate Law (11) reference

Section

ESRS S2-1 Human Rights Policy commitments paragraph 17

Indicator number 9 Table #3 and Indicator n. 11 Table #1 of Annex 1

S1 Own workforce, Approach and policies

G1 Business conduct, Management of relationships with suppliers

ESRS S2-1 Policies related to value chain workers paragraph 18

Indicator number 11 and n. 4 Table #3 of Annex 1

S2 Workers in the value chain, Approach and policies

ESRS S2- 1 Non-respect of UNGPs on Business and Human Rights principles and OECD guidelines paragraph 19

Indicator number 10 Table #1 of Annex 1

Delegated Regulation (EU) 2020/1816, Annex II Delegated Regulation (EU) 2020/1818, Art 12 (1)

S2 Workers in the value chain, Approach and policies

G1 Business Conduct, Remediation and Whistleblowing channel

ESRS S2-1 Due diligence policies on issues addressed by the fundamental International Labour Organisation Conventions 1 to 8, paragraph 19

Delegated Regulation (EU) 2020/1816, Annex II

S2 Workers in the value chain, Approach and policies

ESRS S2-4 Human rights issues and incidents connected to its upstream and downstream value chain paragraph 36

Indicator number 14 Table #3 of Annex 1

S2 Workers in the value chain, Actions

ESRS S3-1 Human Rights Policy commitments paragraph 16

Indicator number 9 Table #3 of Annex 1 and Indicator number 11 Table #1 of Annex 1

Not material

ESRS S3-1 Non-respect of UNGPs on Business and Human Rights, ILO principles, or OECD guidelines paragraph 17

Indicator number 10 Table #1 Annex 1

Delegated Regulation (EU) 2020/1816, Annex II Delegated Regulation (EU) 2020/1818, Art 12 (1)

Not material

ESRS S3-4 Human rights issues and incidents paragraph 36

Indicator number 14 Table #3 of Annex 1

Not material

ESRS S4-1 Policies related to consumers and end-users paragraph 16

Indicator number 9 Table #3 and Indicator number 11 Table #1 of Annex 1

S4 Consumers and end-users, Approach and policies

ESRS S4-1 Non-respect of UNGPs on Business and Human Rights and OECD guidelines paragraph 17

Indicator number 10 Table #1 of Annex 1

Delegated Regulation (EU) 2020/1816, Annex II Delegated Regulation (EU) 2020/1818, Art 12 (1)

S4 Consumers and end-users, Approach and policies

G1 Business Conduct, Remediation and Whistleblowing channel

ESRS S4-4 Human rights issues and incidents paragraph 35

Indicator number 14 Table #3 of Annex 1

G1 Business Conduct, Remediation and Whistleblowing channel

ESRS G1-1 United Nations Convention against Corruption paragraph 10 (b)

Indicator number 15 Table #3 of Annex 1

G1 Business conduct, Prevention and detection of corruption and bribery

ESRS G1-1 Protection of whistleblowers paragraph 10 (d)

Indicator number 6 Table #3 of Annex 1

G1 Business Conduct, Remediation and Whistleblowing channel

ESRS G1-4 Fines for violation of anti-corruption and anti-bribery laws paragraph 24 (a)

Indicator number 17 Table #3 of Annex 1

Delegated Regulation (EU) 2020/1816, Annex II)

G1 Business Conduct, Incidents of corruption and bribery

ESRS G1-4 Standards of anticorruption and anti-bribery paragraph 24 (b)

Indicator number 16 Table #3 of Annex 1

G1 Business conduct, Incidents of corruption and bribery

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Financial statements

Report by the Board of Directors

year 2025

sustainability statement

BEMS Building Energy Management Systems

BIO Biodiversity and Ecosystems (EU Taxonomy term and abbreviation)

CCA Climate Change Adaptation (EU Taxonomy term and abbreviation)

CCM Climate Change Mitigation (EU Taxonomy term and abbreviation)

CDP A non-profit organization that runs a global environmental disclosure system

CE Circular Economy (EU Taxonomy term and abbreviation)

CICES Common International Classification of Ecosystem Services

CoC Code of Conduct

CSRD Corporate Sustainability Reporting Directive

DEI Diversity, Equity, and Inclusion

DMA Double Materiality Assessment

DNSH Do No Significant Harm (EU Taxonomy term and abbreviation)

DTC Direct-to-Consumer

EFRAG European Financial Reporting Advisory Group

EMS Energy Management Systems

EPCs Energy Performance Certificates

EPRTR European Pollutant Release and Transfer Register

ERM Enterprise Risk Management

ESG Environmental, Social, and Governance

ESRS European Sustainability Reporting Standards

ETS Emission Trading System

FGLT Fiskars Group Leadership Team

FSC Forest Stewardship Council

FTE Full-Time Equivalent, a metric used for working hours

GDPR General Data Protection Regulation

GHG Greenhouse Gas

GOTS Global Organic Textile Standard

GRI Global Reporting Initiative

HCIS High Climate Impact Sectors

ICC International Chamber of Commerce

IEA International Energy Agency

IFRS International Financial Reporting Standards

IPCC Intergovernmental Panel on Climate Change

ISO International Organization for Standardization

IUCN The International Union for Conservation of Nature

LTAF Lost Time Accident Frequency

NOx Nitrogen Oxides

OECD Organisation for Economic Co-operation and Development

PEFC Programme for the Endorsement of Forest Certification

PFAS Per- and polyfluoroalkyl substances

PPC Pollution Prevention and Control (EU Taxonomy term and abbreviation)

RCP Representative Concentration Pathway

SBTi Science-Based Targets initiative

SCoC Supplier Code of Conduct

SDGs Sustainable Development Goals

SFDR The Sustainable Finance Disclosure Regulation

TCFD Task Force on Climate-Related Financial Disclosures

tCO 2 eq Tonnes carbon dioxide equivalent

UNGP United Nations Guiding Principles

WTR Water and Marine Resources (EU Taxonomy term and abbreviation)

Espoo, Finland, February X, 2026

FISKARS CORPORATION

Board of Directors

Auditor’s report

Other financial information

127

Financial statements

Report by the Board of Directors

year 2025

sustainability statement

Contents

Auditor’s report

Other financial information

129

sustainability statement

Report by the Board of Directors

year 2025

Financial statements

Operating segments

2025

EUR million

Vita

Fiskars

Other

Unallocated and eliminations

Group total

Net sales

612.6

522.0

5.6

1,140.2

Gross profit

331.1

201.7

2.3

535.1

Items affecting comparability in gross profit1

-0.5

-1.8

-2.3

EBIT excl. Items affecting comparability

27.7

66.6

-17.9

76.4

Items affecting comparability in EBIT1

-35.7

-5.8

3.1

-38.4

EBIT

-8.0

60.8

-14.7

38.1

Change in fair value of biological assets

4.5

4.5

Financial income and expenses

-30.0

-30.0

Profit before taxes

12.5

Income taxes

-2.9

-2.9

Profit for the period

9.6

Capital expenditure

27.2

13.4

2.9

43.5

Depreciation, amortization and impairment

56.8

21.9

5.5

84.1

1Detailed in section Other financial information.

Auditor’s report

Other financial information

140

sustainability statement

Report by the Board of Directors

year 2025

Financial statements

Operating segments

2024

EUR million

Vita

Fiskars

Other

Unallocated and eliminations

Group total

Net sales

605.1

547.2

4.8

1,157.1

Gross profit

342.3

218.4

3.4

564.1

Items affecting comparability in gross profit1

-46.8

-0.2

-47.1

EBIT excl. Items affecting comparability

47.6

77.3

-13.4

111.4

Items affecting comparability in EBIT1

-60.9

-13.0

-0.4

-74.3

EBIT

-13.3

64.2

-13.8

37.1

Change in fair value of biological assets

6.5

6.5

Financial income and expenses

-25.2

-25.2

Profit before taxes

18.5

Income taxes

8.9

8.9

Profit for the period

27.3

Capital expenditure

29.6

19.5

3.7

52.5

Depreciation, amortization and impairment

54.6

24.0

3.9

82.5

1Detailed in section Other financial information.

Auditor’s report

Other financial information

141

sustainability statement

Report by the Board of Directors

year 2025

Financial statements

Amount of share incentives and terms and assumptions in the fair value calculation

Performance share plan

Restricted share plan

2025–2027 Performance period

2024–2026 Performance period

2023–2025 Performance period

2025–2027 Retention period

2024–2026 Retention period

2023–2025 Retention period

Maximum number of shares granted, at the end of the financial year

421,280

279,516

135,694

238,725

36,060

20,554

Grant date share price, EUR

14.63

16.42

16.27

14.63

16.42

16.27

Share price at the end of the year, EUR

12.68

Vesting period starts

Jan 1, 2025

Jan 1, 2024

Jan 1, 2023

Jan 1, 2025

Jan 1, 2024

Jan 1, 2023

Vesting period ends

Dec 31, 2027

Dec 31, 2026

Dec 31, 2025

Dec 31, 2027

Dec 31, 2026

Dec 31, 2025

Number of participants

57

43

24

28

21

11

Employee Share Savings Plan, "MyFiskars", settled in shares and/or cash

In March 2023, the Board of Directors approved the establishment of an Employee Share Savings Plan, "MyFiskars", for the employees of Fiskars Group. The aim of MyFiskars is to invite employees to acquire and own Fiskars Corporation's shares, and it is intended to create a culture of ownership as well as to further strenghten employees' long-term commitment to the company.

MyFiskars consists of annually commencing plan periods, each one comprising a 12-month savings period and a holding period. The Board of Directors will decide separately the commencement of each individual plan. MyFiskars is offered to permanent employees who have been employed at Fiskars Group for one month or longer before the enrollment period. The employees are offered the chance to voluntarily save a proportion of their monthly salary and to invest this in Fiskars Corporation's shares. The savings

will be used to acquire Fiskars Corporation's shares for the participating employees quarterly after the publication dates of the company’s interim reports. As a reward for their commitment, Fiskars Group grants the participating employees a gross reward of one free matching share for every two savings shares acquired. The matching shares will be granted if the participating employee remains employed at Fiskars Group at the end of the plan period and if they have kept the shares they have acquired with their savings until this date.

The potential reward will be settled in shares, or partly in shares and partly in cash, after the end of the holding period. The cash proportion is intended for covering taxes and tax-related costs arising from the reward in countries where the employer has the obligation to withhold taxes. Matching shares will be freely transferable after their registration in the participant’s book-entry account. Savings shares and matching shares are regular Fiskars Corporation's shares and entitle the participants to dividends.

The participants may choose whether they want to receive dividends in cash or invest the dividends in additional shares on the next acquisition date. The shares purchased with dividends will have an equal right to matching shares as the shares purchased with savings.

MyFiskars 2023–2025 plan's savings commenced on 1 July 2023 and ended on 30 June 2024. The holding period began at the first acquisition of savings shares and ends on 30 June 2026. The second Employee Share Savings Plan was approved by the Board of Directors in March 2024. The savings period commenced on 1 July 2024 and ended on 30 June 2025. The holding period began at the first acquisition of savings shares and ends on 30 June 2027. The third Employee Share Savings Plan was approved by the Board of Directors in March 2025. The savings period commenced on 1 July, 2025 and ends on 30, June 2026. The holding period began at the first acquisition of savings shares and ends on 30 June, 2028.

Auditor’s report

Other financial information

146

sustainability statement

Report by the Board of Directors

year 2025

Financial statements

Employee Share Savings Plan, "MyFiskars"

2025–2028 plan period

2024–2027 plan period

2023–2026plan period

Maximum number of shares granted, at the end of the year

6,997

27,811

32,034

Grant date share price, EUR

14.63

16.42

16.27

Share price at the end of the financial year, EUR

12.68

Vesting period starts

Jul 1, 2025

Jul 1, 2024

Jul 1, 2023

Vesting period ends

Jun 30, 2028

Jun 30, 2027

Jun 30, 2026

Number of participants

418

502

625

Ownership Plan for the company's management, settled in shares and cash

In February 2023 the Board of Directors resolved to launch an Ownership Plan 2023 directed to the company’s President and CEO, the Fiskars Group Leadership Team and certain key employees determined by the Board. The Plan is established to encourage the target group to invest in Fiskars Corporation's shares.The aim is to align the objectives of the shareholders and the management for increasing the value of the Company in the long-term, to commit the target group to the company and to offer a competitive incentive program.

In the Plan, the target group is given an opportunity to receive free matching shares for their personal investment in Fiskars Corporation's shares. The

rewards based on the Plan will be paid after the end of the three-year matching period in 2026.

The prerequisite for receiving the matching shares is that the participant acquires shares within the limits set by the Board. If the participant’s share acquisition prerequisite has been fulfilled and the employment or service relationship with a group company has not terminated by the payment date, the participant will receive reward shares gratuitously according to the matching ratio decided by the Board.

A total of 156,401 treasury shares were subscribed for in the directed share issue, which ended on March 3, 2023. Matching shares will be paid in new shares or treasury shares held by the company, as decided later by the Board. On February 8, 2024 the Board decided

to offer the Plan to a few additional participants. The rewards based on the Plan will also be paid after the end of the matching period in 2026 to the new participants. A total of 12,894 treasury shares was subscribed for by four employees.

Onwership plan

2023–2026 plan period

Maximum number of shares granted, at the end of the year

254,047

Grant date share price, EUR

16.27

Share price at the end of the financial year, EUR

12.68

Vesting period starts

Apr 1, 2023

Vesting period ends

Mar 31, 2026

Number of participants

13

Auditor’s report

Other financial information

147

sustainability statement

Report by the Board of Directors

year 2025

Financial statements

Deferred taxes

Deferred tax assets

EUR million

2025

2024

Intangible assets and property, plant and equipment

14.7

14.1

Lease liabilities

29.9

28.4

Accruals and provisions

9.3

9.8

Inventories

7.5

8.7

Post-employment liabilities

4.0

4.2

Tax losses recognized

30.4

28.9

Other temporary differences

6.4

4.0

Total

102.1

98.1

Offset against deferred tax liabilities

-54.8

-47.1

Total deferred tax assets

47.4

51.0

Deferred tax liabilities

EUR million

2025

2024

Intangible assets and property, plant and equipment

39.1

39.4

Right-of-use assets

27.7

26.2

Investments at fair value

10.6

10.1

Inventories

0.4

0.4

Undistributed earnings

4.9

4.7

Other temporary differences

7.2

5.4

Total

89.9

86.2

Offset against deferred tax assets

-54.8

-47.1

Total deferred tax liabilities

35.1

39.1

Net deferred tax assets (+) and liabilities (-)

12.2

11.9

Deferred tax assets and liabilities are offset when there is a legally enforceable right to offset current tax assets against current tax liabilities and when the deferred taxes relate to the same fiscal authority.

Movements in the net deferred tax balance

EUR million

2025

2024

Net deferred tax asset (+) / liability (-) at January 1

11.9

-10.4

Recognized in income statement

2.7

23.9

Recognized in other comprehensive income

0.1

Recognized in equity

0.0

-3.1

Translation differences and other

-2.5

1.5

Net deferred tax asset (+) / liability (-) at December 31

12.2

11.9

Amount of tax losses carried forward, tax credits and temporary differences for which no deferred tax asset has been recognized due to uncertainty of utilization

Tax losses carried forward

EUR million

2025

2024

Expiring within 20 years

39.8

39.0

No expiry

108.5

119.2

Total

148.4

158.2

Tax credits

EUR million

2025

2024

Temporary differences

3.1

2.4

Taxes in other comprehensive income

2025

EUR million

Gross

Tax

Net

Translation differences

-22.1

-22.1

Cash flow hedges

0.8

0.8

Defined benefit plans, actuarial gains (losses)

0.5

0.1

0.6

Other comprehensive income for the period, total

-20.9

0.1

-20.8

2024

EUR million

Gross

Tax

Net

Translation differences

9.0

9.0

Cash flow hedges

-0.7

-0.7

Defined benefit plans, actuarial gains (losses)

0.0

0.0

0.0

Other comprehensive income for the period, total

8.3

0.0

8.3

Application of OECD Pillar Two model rules

Fiskars Group is within the scope of the OECD Pillar Two model rules. The Pillar Two legislation has been enacted in Finland, which is Fiskars Group's ultimate parent company's jurisdiction of residence, as well as in various other jurisdictions where Fiskars Group operates. The legislation became effective for the financial years starting 1 January 2024 or thereafter.

The Group applies the IAS 12 exception to recognizing and disclosing information about deferred tax assets and liabilities related to Pillar Two income taxes and accounts for top-up tax as a current tax when it is incurred.

The Group has performed an assessment of its potential exposure to Pillar Two income taxes based

Auditor’s report

Other financial information

149

sustainability statement

Report by the Board of Directors

year 2025

Financial statements

2025

EUR million

Goodwill

Trademarks, patents and domain names

Software

Construction in progress

Other

Total

Historical cost, Jan 1

238.4

313.2

100.9

30.7

61.4

744.6

Translation differences

-8.0

-3.2

-3.6

-0.4

-1.6

-16.8

Additions

0.0

4.0

9.0

0.2

13.2

Decreases

-1.1

-43.9

0.0

-10.0

-55.1

Transfers between asset groups

0.4

27.9

-28.7

0.4

Historical cost, Dec 31

230.4

309.3

85.3

10.6

50.3

686.0

Accumulated amortization and impairment, Jan 1

12.4

23.4

66.2

38.4

140.4

Translation differences

-0.2

1.9

-3.5

-1.4

-3.3

Amortization

0.9

10.9

3.2

15.0

Impairment

5.2

5.2

Decreases1

-1.1

-17.5

-10.0

-28.7

Accumulated amortization and impairment, Dec 31

12.3

30.2

56.1

30.1

128.7

Book value, Dec 31

218.1

279.2

29.2

10.6

20.2

557.3

1In 2025, EUR 26.8 million of decreases in software was related to a write-off concerning internally generated intangible digital and IT assets. More information in section Other financial information.

Auditor’s report

Other financial information

153

sustainability statement

Report by the Board of Directors

year 2025

Financial statements

2024

EUR million

Goodwill

Trademarks, patents and domain names

Software

Construction in progress

Other

Total

Historical cost, Jan 1

232.5

311.4

104.7

31.4

60.0

739.8

Translation differences

5.9

1.1

1.9

-0.9

0.9

8.8

Additions

0.3

5.6

19.8

0.4

26.1

Decreases

-30.2

-0.3

-0.5

-31.0

Transfers between asset groups

0.5

19.0

-19.4

0.6

0.7

Historical cost, Dec 31

238.4

313.2

100.9

30.7

61.4

744.6

Accumulated amortization and impairment, Jan 1

12.3

23.5

77.1

35.1

148.0

Translation differences

0.1

-0.8

1.8

0.8

1.9

Amortization

0.7

16.6

3.1

20.3

Decreases

-29.2

-0.4

-29.6

Accumulated amortization and impairment, Dec 31

12.4

23.4

66.2

38.4

140.4

Book value, Dec 31

225.9

289.9

34.6

30.7

23.0

604.2

Impairment testing

Accounting policies

Fiskars Group's operations have been divided into cash-generating units (CGU) that are similar to the reporting segments. The carrying amounts of the assets relating to these CGUs are reviewed for impairment indicators annually at the end of the reporting period. The recoverable amounts of the following assets are also estimated annually irrespective whether there is any indication for impairment: goodwill, intangible assets with indefinite useful lives and unfinished intangible assets.

To determine a potential impairment, the carrying amount of the asset, or the carrying amounts of the CGU’s net

assets are compared against the recoverable amount of that asset or CGU. The recoverable amount is the higher of the present value of the future cash flows (value in use) and the fair value less costs to sell. An impairment loss is recognized for an asset when its carrying amount exceeds its recoverable amount. An impairment loss previously recognized for items of property, plant, and equipment as well as for intangible assets other than goodwill is reversed subsequently only if there has been a change in the estimates used to determine the asset’s recoverable amount since the last impairment loss was recognised. An impairment loss is reversed only to the extent that the asset’s carrying amount does not exceed

the carrying amount that would have been determined, net of amortization or depreciation, if no impairment loss had been recognized for the asset in prior years. An impairment loss recognized for goodwill is not reversed.

Auditor’s report

Other financial information

154

sustainability statement

Report by the Board of Directors

year 2025

Financial statements

Goodwill is not amortized but is tested at least annually for impairment. Goodwill has been allocated to cash-generating units as at December 31, 2025 and 2024 as follows:

EUR million

2025

2024

Vita

216.3

223.9

Fiskars

1.7

1.9

Total

218.1

225.9

Goodwill generated from acquisitions is allocated to CGUs. The primary reporting segments, which form the CGUs, are Vita and Fiskars. The recoverable amounts from CGUs are determined with value in use method, using five-year discounted cash flow projections, based on strategic plans approved by management for years 2026–2028, and after this cash flows are estimated for two year period before calculating the terminal value. Cash flows for the period extending over the five year planning period are calculated using the terminal value method. The discount rate is the weighted average post-tax cost of capital (Weighted Average Cost of Capital, WACC) as defined by Fiskars Group. The components of the WACC are risk-free rate, market risk premium, company-specific risk premium, industry specific equity beta, cost of debt and debt to equity ratio. WACC components have been updated to present the current market conditions. As a result of the annual impairment tests, no impairment was recognized on goodwill in 2025, or in 2024.

Fiskars Group has ten trademarks whose aggregate carrying amount is EUR 275.3 million (2024: 285.0).

Since the benefits from trademarks are indefinite, they are not amortized but are tested at least annually for impairment using a royalty relief method. An exception for this principle is Hackman-trademark for which amortization has begun in 2017 (amortization period 20 years). Cash flows attributable to trademarks are derived by identifying revenues from sales of products belonging to each trademark. The value in use of trademarks is determined on a discounted cash flow method basis, derived from five-year cash flow projections, based on strategic plans approved by the management. Cash flows for the period extending over the planning period are calculated using the terminal value method.

As a result of the annual impairment tests for trademarks, impairment loss of EUR 5.2 million (2024: 0.0) was recognized for the year ended December 31, 2025. Impairments were allocated to Nordic brands portfolio and to the Waterford and Royal

Albert -trademarks that are included in the operating segment Vita. The impairment loss was recognized in Sales and marketing expenses in the Consolidated Income Statement.

For Waterford and Royal Albert -trademarks, the impairment losses recognized were primarily attributable to lower-than-expected sales performance and margin compression. Although the Iittala-trademark, which forms part of the Nordic brands portfolio recognized as part of Iittala acquisition in 2007, showed expected development in sales, this was not sufficient to compensate for the weaker-than-expected sales development and profitability of the other brands in the portfolio.

No impairment was recognized for other trademarks tested during the year, as their respective recoverable amounts exceeded their carrying amounts by an appropriate margin.

Key parameters applied in impairment testing

2025

2024

%

Goodwill

Trademarks1

Goodwill

Trademarks1

Increase in net sales on average

2.7

2.0

2.6

5.7

Steady growth rate in projecting terminal value

1.0

1.0

1.0

1.0

Discount rate, pre-tax, average

7.8

9.2

7.1

8.7

1Used one percentage point higher risk premium than in goodwill testing.

Auditor’s report

Other financial information

155

sustainability statement

Report by the Board of Directors

year 2025

Financial statements

Sensitivity analyses

Sensitivity analyses of goodwill have been carried out for the valuation of each CGU by making downside scenarios for key parameters. The management views that no reasonably possible change in any of the key parameters would lead to impairment as the recoverable amounts exceed the carrying amounts. The recoverable amount exceeds the carrying amounts after changes in the key parameters.

Sensitivity analyses of trademarks have been carried out for the valuation of each trademark by making downside scenarios for key parameters. Trademarks for which impairment losses were recognized in 2025, the recoverable amounts are sensitive to reasonably possible changes in key assumptions. The following changes, considered reasonably possible, would result a further impairment:

Key assumption

Change in assumption

Additional impairment

Pre-tax discount rate

+0.5 percentage points

EUR 7.4 million

Royalty rate

-0.5 percentage points

EUR 5.4 million

Terminal growth rate

-0.5 percentage points

EUR 11.1 million

In addition, management views that Gingher-trademark is sensitive to a reasonably possible change in royalty rate.

On the trademarks for which impairment loss was not recognized, management has performed sensitivity analyses on the same key assumptions. No reasonably possible change in the key assumptions would cause the carrying amounts to exceed their recoverable amounts.

Auditor’s report

Other financial information

156

sustainability statement

Report by the Board of Directors

year 2025

Financial statements

2024

EUR million

Land and water

Buildings

Machinery and equipment

Construction in progress

Total

Historical cost, Jan 1

20.8

105.7

131.5

17.3

275.3

Translation differences

0.3

2.9

5.5

1.1

9.9

Additions

1.9

7.4

17.2

26.5

Decreases

0.0

-0.1

-5.7

-0.2

-6.0

Transfers between asset groups

2.2

7.8

-12.2

-2.2

Historical cost, Dec 31

21.1

112.7

146.5

23.2

303.5

Accumulated depreciation and amortization, Jan 1

37.1

75.7

-0.6

112.2

Translation differences

1.0

4.5

0.0

5.6

Depreciation

6.0

18.0

23.9

Decreases

-0.1

-5.4

-5.5

Accumulated depreciation and impairment, Dec 31

44.0

92.8

-0.6

136.1

Book value, Dec 31

21.1

68.7

53.7

23.8

167.4

Auditor’s report

Other financial information

158

sustainability statement

Report by the Board of Directors

year 2025

Financial statements

Characteristics of the defined benefit plans and risks associated with them

Net liability

EUR million

2025

2024

Description and risks

Finland

0.0

0.0

There are 14 eligible members in the Finnish pension plans. The plans are funded insured pension plans, which are closed. Benefits of the plans are old age pension, disability pension, family pension and funeral grant. Pension increases are based on either insurance companies' own indexes or TyEL index. Main risks are changes in bond yields, increase in life expectancy and inflation risk.

Germany

0.6

0.7

There are 60 eligible members in the German pension plans. The plans are either unfunded individual pension promises, or unfunded pension plans, which are closed. Benefits of the plans are old age pension, disability pension and widow's/widower's pension. Pension increases, if any, are based on inflation. Main risks are changes in bond yields, increase in life expectancy and inflation risk.

Thailand

2.9

2.5

There are 1,094 eligible members in the Thai pension plan, which is a retirement benefit plan. Benefit of the plan is severance pay. There are no pension increases. Main risks are changes in bond yields and inflation risk.

UK

The obligation for the UK defined benefit pension plan was fully transferred to the insurance company at the end of 2024 and Fiskars Group no longer recognizes any liability for this plan. Following the transfer of the defined benefit obligation, the surplus of the arrangement was GBP 1.6 million at the end of 2025 (2024: 1.6). The surplus has not been recognized in the Consolidated Balance Sheet due to the asset recognition limitations. The transfer of responsibility had no impact on profit or loss for the financial year ended December 31, 2025. After the completion of the wind-up of the pension fund, any surplus may be returned to the Fiskars Group.

U.S.

3.4

3.9

There is one eligible member in the American pension plan, which is an unfunded pension obligation. Benefits of the plan are old age pension and widow's/widower's pension. There are no pension increases. Main risks are changes in bond yields and increase in life expectancy.

Taiwan

0.0

0.5

There are 10 eligible members in Taiwanese pension plan, which is a funded pension obligation. Benefit of the plan is an old age pension. There is no pension increases. Main risks are asset volatility, changes in bond yields and inflation risk.

Indonesia

3.5

3.6

There are 686 eligible members in the Indonesian pension plan, which is an unfunded retirement benefit plan. Benefits of the plan are severance pay, death benefit and disability benefit. There are no pension increases. Main risks are changes in bond yields and inflation risk.

Japan

0.4

0.5

There are 57 eligible members in the Japanese pension plan, which is a funded and insured pension and retirement allowance plan. Benefits of the plan are old-age pension, death benefit and retirement allowance. There are no pension increases. Main risks are changes in bond yields, increase in life expectancy and inflation risk.

Slovenia

0.9

0.5

There are 552 eligible members in the Slovenian pension plan, which is unfunded retirement benefit plan. Benefit of the plan is severance pay. There are no pension increases. Main risks are changes in bond yields and inflation risk.

Total net liability

11.7

12.3

Auditor’s report

Other financial information

165

sustainability statement

Report by the Board of Directors

year 2025

Financial statements

Changes in net defined benefit liability

EUR million

Present value of obligation

Fair value of plan assets

Total

Additional liability and effect of asset ceiling

Total

Jan 1, 2025

23.8

-13.4

10.4

1.9

12.3

Current service cost

0.6

0.6

0.6

Interest expense (+) or income (-)

0.5

-0.1

0.4

0.1

0.5

Administration expenses

0.1

0.1

0.1

Past service cost and gains and losses from settlements

Total included in personnel expenses (Note 2.4)

1.1

0.0

1.1

0.1

1.2

Return on plan assets, excluding amounts included in interest, (gain -) and (loss +)

0.0

0.0

0.0

Actuarial gains (-) and losses (+) arising from changes in demographic assumptions

0.1

0.1

0.1

Actuarial gains (-) and losses (+) arising from changes in financial assumptions

0.3

0.3

0.3

Experience adjustment gains (-) and losses (+)

0.2

0.2

0.2

Changes in asset ceiling, excluding amounts included in interest

-0.1

-0.1

Remeasurement gains (-) and losses (+) included in OCI

0.6

0.0

0.6

-0.1

0.5

Translation differences

-1.9

0.8

-1.0

-0.1

-1.1

Employer contributions

-1.1

-1.1

-1.1

Benefits paid

-1.1

1.1

Other changes

-9.0

9.0

Dec 31, 2025

13.6

-3.7

9.9

1.8

11.7

Auditor’s report

Other financial information

166

sustainability statement

Report by the Board of Directors

year 2025

Financial statements

Changes in net defined benefit liability

EUR million

Present value of obligation

Fair value of plan assets

Total

Additional liability and effect of asset ceiling

Total

Jan 1, 2024

23.7

-13.5

10.2

1.9

12.1

Current service cost

0.6

0.6

0.6

Interest expense (+) or income (-)

1.1

-0.6

0.5

0.1

0.6

Administration expenses

0.2

0.2

0.2

Past service cost and gains and losses from settlements

Total included in personnel expenses (Note 2.4)

1.6

-0.4

1.2

0.1

1.3

Return on plan assets, excluding amounts included in interest, (gain -) and (loss +)

0.1

0.1

0.1

Actuarial gains (-) and losses (+) arising from changes in demographic assumptions

0.4

0.4

0.4

Actuarial gains (-) and losses (+) arising from changes in financial assumptions

-0.4

-0.4

-0.4

Experience adjustment gains (-) and losses (+)

0.0

0.0

0.0

Changes in asset ceiling, excluding amounts included in interest

-0.2

-0.2

Remeasurement gains (-) and losses (+) included in OCI

-0.1

0.1

0.0

-0.2

-0.1

Translation differences

0.8

-0.5

0.3

0.1

0.4

Employer contributions

-1.1

-1.1

-1.1

Benefits paid

-1.9

1.9

Other changes

-0.3

-0.3

-0.3

Dec 31, 2024

23.8

-13.4

10.3

1.9

12.3

Auditor’s report

Other financial information

167

sustainability statement

Report by the Board of Directors

year 2025

Financial statements

Plan assets by asset category

2025

2024

EUR million

Quoted

Unquoted

Quoted

Unquoted

Equity instruments

0.0

0.1

Bonds

0.5

0.6

Insurance contracts

1.8

11.4

Cash and cash equivalents

1.3

1.4

Other

0.0

0.0

Total

1.9

1.8

2.0

11.4

Principal actuarial assumptions at the balance sheet date

%

2025

2024

Discount rate

UK

n/a

5.35

U.S.

4.65

4.90

Indonesia

6.10

6.91

Slovenia

3.95

3.50

Other countries

1.25–3.65

1.20–3.50

Future salary increases

UK

n/a

n/a

U.S.

n/a

n/a

Indonesia

5.00

5.00

Slovenia

3.25

3.25

Other countries

n/a / 0.00–3.00

n/a / 2.00–3.00

Future pension increases

UK

n/a

3.15

U.S.

Indonesia

5.00

5.00

Slovenia

Other countries

n/a / 0.00–2.25

n/a / 2.00–2.25

Auditor’s report

Other financial information

168

sustainability statement

Report by the Board of Directors

year 2025

Financial statements

Sensitivity analysis

The sensitivity analyses have been determined based on reasonably changes of the respective assumptions occurring at the end of the reporting period and may not be representative of the actual change. It is based on a change in the key assumption while holding all other assumptions constant. A linear extrapolation of these amounts based on alternative changes in the assumptions as well as an addition of combined changes in the individual assumptions is not possible. There are no changes in the way the sensitivity analyses were performed compared to the previous years.

2025

2024

Defined benefit obligation

Defined benefit obligation

EUR million

Increase

Decrease

Increase

Decrease

UK

Discount rate (0.5% change)

-0.5

0.5

Future salary (0.5% change)

n/a

n/a

Future pension (0.5% change)

0.3

-0.3

Other Group companies, total

Discount rate (0.5% change)

-0.5

0.5

-0.5

0.5

Future salary (0.5% change)

0.4

-0.3

0.4

-0.3

Future pension (0.5% change)

0.0

0.0

0.0

0.0

The weighted average of the duration of the defined benefit obligation: 8.0 (2024: 9.0)

Although the analysis does not take account of the full distribution of cash flows expected under the plan, it does provide an approximation of the sensitivity of the assumptions shown.

Auditor’s report

Other financial information

169

sustainability statement

Report by the Board of Directors

year 2025

Financial statements

Refinancing risk refers to exposure to unavailability or prohibitively expensive price of financing at the time of maturity of expiring financing lines. The objective of refinancing risk management is to minimize the risk by diversifying the sources and maturity structure of the funding portfolio.

Fiskars Group had EUR 300.0 million (2024: 250.0) of long-term committed credit facilities and uncommitted overdraft facilities of EUR 46.1 million (2024: 51.7). A commercial paper program of 400.0 million was available with Nordic banks. Of the long-term committed credit facilities EUR 0.0 million was in use (2024: 0.0). Of the uncommitted credit facilities EUR 0.0 million was in use (2024:1.0) and of the commercial paper program EUR 139.5 million (2024: 75.2) was in use.

Commodity risk

Fiskars Group is exposed to fluctuations in the prices of certain commodities. The Group may use derivatives to hedge its exposure to this risk where appropriate. At the end of the year, the Group held outstanding commodity swaps in gold, silver and aluminium to hedge the purchase price of these commodities. The nominal value of these derivatives amounted to EUR 12.0 million (2024: 6.4). Hedge accounting is not applied on commodity derivatives.

Credit risk

Group Treasury is responsible for evaluating and monitoring financial counterparty risk. The Group minimizes this risk by limiting its counterparties to creditworthy banks and financial institutions and by working within defined counterparty limits. Sales

function is responsible for monitoring customer credit risks. The Group’s clientele is extensive and even the largest customers represent less than 5% of the outstanding receivables. As of the end of the year, the Group’s trade receivables totaled EUR 178.3 million (2024: 188.9). The financial statements include provisions for bad debt related to trade receivables totaling EUR 3.2 million (2024: 5.7).

Management of capital

Fiskars Group is not subject to any externally imposed capital requirements (other than possible local company law requirements effective in the jurisdictions where Fiskars Group companies are active).

The Group’s objectives when managing capital are:

to safeguard the Group’s capacity to fund its operations and take care of its obligations

to maintain a balanced business portfolio that provides return both on short and long term to its shareholders

to maintain possibilities to act on potential investment opportunities

to maintain an equity ratio that exceeds 40%

to maintain a net debt to last 12 months' EBITDA (excl. IAC) ratio of maximum 2.5

Auditor’s report

Other financial information

174

sustainability statement

Report by the Board of Directors

year 2025

Financial statements

Financial assets at fair value through profit or loss

Level 3

EUR million

2025

2024

Book value, Jan 1

29.8

30.9

Decreases

-1.1

-1.0

Change in fair value

-3.6

-0.1

Book value, Dec 31

25.1

29.8

Investments at fair value through profit or loss comprise unlisted funds. The fair value of unlisted funds is based on the market value reported by the funds (level 3 - valuation is based on non-market observable inputs). Changes in the fair value are recognized in the income statement.

Other investments and other non-current assets

Level 3

EUR million

2025

2024

Book value, Jan 1

17.3

14.5

Additions

2.8

Decreases

-3.0

Book value, Dec 31

14.3

17.3

Other investments include listed and unlisted shares as well as non-current receivables. Listed shares are recognized at their fair value based on quotation at the end of the reporting period (level 1 - valuation is based on market prices). Unlisted shares and other investments are measured at fair value (level 3 - valuation is based on non-market observable inputs). Fair value of unlisted shares equals acquisition value.

Cash and cash equivalents

EUR million

2025

2024

Cash and cash equivalents

82.6

60.8

Total, Dec 31

82.6

60.8

Auditor’s report

Other financial information

176

sustainability statement

Report by the Board of Directors

year 2025

Financial statements

Changes in liabilities arising from financing activities

2025

EUR million

Jan 1

Lease changes

Cash flows

Fx difference

Other

Dec 31

Non-current loans and borrowings

331.0

-0.4

330.6

Non-current lease liabilities (Note 5.5)

113.9

-0.7

0.0

-24.9

88.3

Current loans and borrowings

76.1

63.4

139.5

Current lease liabilities (Note 5.5)

33.6

21.0

-40.1

-6.9

29.8

37.5

Total

554.7

20.3

23.3

-6.9

4.5

596.0

2024

EUR million

Jan 1

Lease changes

Cash flows

Fx difference

Other

Dec 31

Non-current loans and borrowings

330.7

0.3

331.0

Non-current lease liabilities (Note 5.5)

117.4

-0.1

0.0

-3.4

113.9

Current loans and borrowings

92.5

-16.3

76.1

Current lease liabilities (Note 5.5)

33.3

29.8

-41.1

3.2

8.5

33.6

Total

573.9

29.7

-57.4

3.2

5.4

554.7

Auditor’s report

Other financial information

178

sustainability statement

Report by the Board of Directors

year 2025

Financial statements

Maturity of liabilities

As of December 31, 2025 the Group had unused committed credit facilities EUR 300.0 million (2024: 250.0) at its disposal to guarantee its liquidity. The average maturity of the credit limit agreements as of December 31, 2025 was 3 years (2024: 3). Maturities of long term loans are presented in the below table. Agreements concerning credit facilities and long term loans include a covenant for the solidity. The covenant is tested at the end of each quarter until the maturity of the credit facilities and term loans. Breach of covenant requires material deterioration of the solidity from the current, and the Group has no indication that it will have difficulty complying with this covenant. The issued bond does not include financial covenants, but the future coupon payments are linked to achievement of certain sustainability metrics.

2025

EUR million

2026

2027

2028

2029

2030

Later years

Total

Issued bonds

200.6

200.6

interests

10.3

10.3

9.0

29.5

Loans from credit institutions

139.5

80.0

50.0

269.5

interests

7.9

4.4

1.6

1.6

15.5

Lease liabilities (Note 5.5)

34.0

23.0

18.6

11.9

9.8

19.6

116.9

interests

3.4

2.3

1.4

0.9

0.6

0.6

9.1

Trade payables

84.1

84.1

Derivative liabilities

2.4

2.4

Total, Dec 31

281.5

119.9

231.2

64.4

10.3

20.2

727.5

2024

EUR million

2025

2026

2027

2028

2029

Later years

Total

Issued bonds

201.0

201.0

interests

10.3

10.3

10.3

9.0

39.8

Other debt

Loans from credit institutions

76.1

80.0

50.0

206.1

interests

8.0

5.3

5.3

2.1

2.1

22.8

Lease liabilities (Note 5.5)

28.9

24.7

20.4

13.9

10.5

34.5

132.8

interests

4.4

3.3

2.3

1.6

1.2

1.8

14.7

Trade payables

88.4

88.4

Derivative liabilities

5.5

5.5

Total, Dec 31

221.6

43.5

118.3

227.6

63.8

36.3

711.1

Auditor’s report

Other financial information

179

sustainability statement

Report by the Board of Directors

year 2025

Financial statements

Sensitivity analysis of currency exposure

The exchange rate sensitivity analysis in accordance with IFRS 7 indicates how the profit before taxes or consolidated Group equity would be impacted by a 10% depreciation of a currency. The impact of a 10% appreciation of a currency would be approximately the opposite. The analysis of impact on profit includes internal and external foreign currency denominated financial items of the parent company in the selected currencies. Estimated commercial cash flows of the Group companies consist of net purchases and sales in foreign currencies during the subsequent year. Derivatives include transactions to hedge the estimated commercial flows. Other financial items include foreign currency denominated loans, deposits and investments. The sensitivity analysis on the consolidated Group equity illustrates translation risk related to the foreign currency denominated equity.

2025

2024

Impact on result before taxes

Impact on result before taxes

EUR million

Estimated commercial cash flows

Derivatives

Other financial items

Impact on group equity

Estimated commercial cash flows

Derivatives

Other financial items

Impact on group equity

AUD

-1.4

0.6

0.7

-1.5

-2.2

1.4

0.8

-1.2

DKK

1.2

-1.2

0.0

-17.8

3.3

-3.4

-0.7

-17.3

GBP

-1.2

5.5

-4.3

-5.0

-1.0

5.6

-4.7

-4.8

JPY

-1.4

1.8

-0.4

-2.3

-2.2

3.4

-1.2

-2.6

NOK

-1.7

1.6

0.0

-0.4

-1.9

1.8

0.0

-0.3

PLN

1.3

-1.6

0.3

-2.4

1.1

-1.5

0.4

-1.1

SEK

-2.8

0.1

2.7

-1.3

-3.2

2.4

0.8

-0.8

THB

0.6

-1.5

0.9

-0.3

2.3

-2.0

-0.3

-0.1

USD

6.1

3.4

-9.6

-15.5

2.0

6.4

-8.4

-14.3

Auditor’s report

Other financial information

180

sustainability statement

Report by the Board of Directors

year 2025

Financial statements

Average interest rates and sensitivity analysis of interest expenses

The sensitivity of interest expenses on changes in interest rates has been presented by simulating a permanent one percentage unit rise in interest rates at the end of the reporting year. The Group's net interest bearing debt excluding financial leases as of December 31, 2025 was EUR 387.5 million (2024: 346.3) and the average interest reset period of interest-bearing debt was 14 months (2024: 22). A permanent one percentage point rise in all interest rates would increase Group's annual interest costs by EUR 2.0 million (2024: 1.3) assuming no change in the amount of the net debt.

The table below shows the Group's net interest bearing debt excluding leasing liabilities, currency derivatives, average interest rates on loans and interest rate sensitivity by major currencies.

2025

EUR million

EUR

USD

GBP

JPY

DKK

SEK

Other

Total

Loans and deposits

446.1

-19.8

-3.9

-1.8

-12.9

-3.7

-16.4

387.5

Currency derivatives

-92.3

33.9

54.8

18.4

-12.0

0.8

-4.9

-1.2

Net debt and currency derivatives

353.9

14.1

50.9

16.6

-24.9

-3.0

-21.3

386.3

Average interest rate on loans (p.a.)

3.8%

Interest rate sensitivity

1.6

0.1

0.5

0.2

-0.2

0.0

-0.2

2.0

2024

EUR million

EUR

USD

GBP

JPY

DKK

SEK

Other

Total

Loans and deposits

398.5

-18.3

-2.2

-12.0

-2.3

-3.0

-14.5

346.3

Currency derivatives

-150.6

83.1

56.2

-34.5

33.6

24.2

-9.5

2.5

Net debt and currency derivatives

247.9

64.8

54.0

-46.4

31.3

21.3

-24.0

348.8

Average interest rate on loans (p.a.)

4.5%

Interest rate sensitivity

0.3

0.6

0.5

-0.5

0.3

0.2

-0.2

1.3

Fair value of financial instruments

Accounting policies

Fair value categories

Hierarchy level 1 includes financial assets and liabilities that are publicly quoted in an active market. This category includes listed financial instruments. Level 2 includes financial assets and liabilities measured using directly observable market inputs. Other than publicly quoted interest-bearing debts and derivatives fall within this category. Level 3 includes financial assets and liabilities measured using non-market observable inputs. The asset classes in this category are unlisted equity investments and funds.

2025

EUR million

Level 1

Level 2

Level 3

Total

Investments at fair value through profit or loss

25.1

25.1

Other investments

3.5

3.5

Derivative assets

7.9

7.9

Total assets

7.9

28.6

36.5

Derivative liabilities

2.4

2.4

Interest-bearing liabilities

202.6

202.6

Total liabilities

202.6

2.4

205.0

2024

EUR million

Level 1

Level 2

Level 3

Total

Investments at fair value through profit or loss

29.8

29.8

Other investments

3.5

3.5

3.8

3.8

Total assets

3.8

33.3

37.0

Derivative liabilities

5.5

5.5

Interest-bearing liabilities

208.2

208.2

Total liabilities

208.2

5.5

213.7

Auditor’s report

Other financial information

181

sustainability statement

Report by the Board of Directors

year 2025

Financial statements

Maturity of derivatives

2025

EUR million

2026

2027

Later years

Total

Foreign exchange forwards and swaps

393.8

393.8

Interest rate swaps

25.0

25.0

60.0

110.0

Commodity derivatives

12.0

12.0

Cross currency swaps

18.6

18.6

Total, Dec 31

430.8

25.0

78.6

534.3

2024

EUR million

2025

2026

Later years

Total

Foreign exchange forwards and swaps

338.3

338.3

Interest rate swaps

55.0

25.0

85.0

165.0

Commodity derivatives

6.4

6.4

Cross currency swaps

18.6

18.6

Total, Dec 31

399.7

25.0

103.6

528.3

Auditor’s report

Other financial information

184

sustainability statement

Report by the Board of Directors

year 2025

Financial statements

Domicile

% of share capital

% of voting power

Nature of main activities

Fiskars Polska Sp. z o.o.

Slupsk

PL

100.0

100.0

P

Fiskars Polska Sp. z.o.o., Magyarországi Fióktelepe

Budapest

HU

100.0

100.0

S

Fiskars Polska Sp. z.o.o., odštěpný závod

Prague

CZ

100.0

100.0

S

Fiskars UK Limited

Bridgend

GB

100.0

100.0

S

Fiskars Commercial (Shanghai) Co., Ltd.

Shanghai

CN

100.0

100.0

S

UAB Fiskars Lithuania

Vilnius

LT

100.0

100.0

S

Fiskars Latvia SIA

Riga

LV

100.0

100.0

S

Fiskars Living Canada, Inc

New Brunswick

CA

100.0

100.0

S

Fiskars Living US, LLC

Wilmingtom, DE

US

100.0

100.0

S

Fiskars UK (Vita) Limited

Stoke-on-Trent

GB

100.0

100.0

P

WWRD Ireland Limited

Waterford

IE

100.0

100.0

P

Steklarna Rogaška d.o.o.

Rogaška Slatina

SI

100.0

100.0

P

Rogaška Kristal d.o.o.

Zagreb

HR

100.0

100.0

D

Fiskars Australia Pty Ltd

Sydney

AU

100.0

100.0

S

Fiskars Australia Pty Ltd - New Zealand Branch

Auckland

NZ

100.0

100.0

S

Josiah Wedgwood & Sons Pty Ltd

Sydney

AU

100.0

100.0

D

Waterford Wedgwood Australia Limited

Stoke-on-Trent

GB

100.0

100.0

D

Fiskars Online Oy Ab

Helsinki

FI

100.0

100.0

S

WWRD Netherlands MidCo B.V.

Amsterdam

NL

100.0

100.0

S

Waterford Wedgwood Trading Singapore Pte Limited

Singapore

SG

100.0

100.0

H

PT Doulton

Tangerang

ID

96.2

96.2

P

Fiskars SC Finland Oy Ab

Espoo

FI

100.0

100.0

D

Ab Åbo Båtvarf - Turun Veneveistämö Oy

Turku

FI

100.0

100.0

D

Fiskars (Thailand) Co.,Limited

Bangkok

TH

1.0

1.0

H

Holding, management or services HProduction and sales PSales SDormant D

Auditor’s report

Other financial information

187

sustainability statement

Report by the Board of Directors

year 2025

Financial statements

Shareholdings of the Board and key management, December 31

Includes holding of corporations under controlling power together with a family member.

2025

2024

Own holdings

Holdings of controlled corporations

Total

Own holdings

Holdings of controlled corporations

Total

Ehrnrooth Paul

11,430,961

11,430,961

11,430,961

11,430,961

Ladau Rolf1

Fromond Louise

601,135

10,567,417

11,168,552

601,135

10,567,417

11,168,552

Goldin Julia

Lindahl Carl-Martin

Lixfeld Volker2

Ehrnrooth Albert

855,372

13,528,534

14,383,906

855,372

13,480,534

14,335,906

Repo Susan

Skippari Susanne3

Ahlström Nathalie4

108,835

108,835

137,311

137,311

Luomakoski Jyri5

15,000

15,000

4,000

4,000

Mindelöf Anna6

6,107

6,107

6,081

6,081

Shaukat Aamir

15,224

15,224

11,712

11,712

Siitonen Jussi

84,594

84,594

84,070

84,070

Hahn Steffen

8,690

8,690

4,462

4,462

Lalonde Daniel7

1Member of the Board of Directors from March 12, 2025; Elected as Vice Chair on May 8, 2025

2Member of the Board of Directors until March 12, 2025

3Member of the Board of Directors from March 12, 2025

4Fiskars Group's President and CEO until May 8, 2025

5Vice Chair of the Board of Directors until May 8, 2025 and stepped down from the Board October 16, 2025. President and CEO of Fiskars Group from October 16, 2025

6Member of the Fiskars Group Leadership Team until March 31, 2025

7Member of the Fiskars Group Leadership Team from April 14, 2025

The shareholdings of the Board and key management represent in total 46.2% of the outstanding shares of the company.

Auditor’s report

Other financial information

189

sustainability statement

Report by the Board of Directors

year 2025

Financial statements

Remuneration of the Board and key management

2025

2024

EUR thousand

Salaries and fees

Statutory pension3

Supplementary pension3

Salaries and fees

Statutory pension3

Supplementary pension3

Ehrnrooth Paul

192.0

171.5

Luomakoski Jyri1

535.0

46.3

106.5

137.3

Fromond Louise

97.5

91.5

Repo Susan

98.5

67.0

Sotamaa Ritva

21.5

Ehrnrooth Albert

94.5

88.5

Ehrnrooth Alexander

3.8

3.0

Lixfeld Volker

20.5

87.8

Lindahl Carl-Martin

97.3

85.8

Goldin Julia

89.8

80.8

Ladau Rolf

97.7

Skippari Susanne

73.5

Ahlström Nathalie2

507.6

36.3

88.2

1,258.4

131.1

96.9

Fiskars Group Leadership Team, excluding CEO and President

2,036.1

30.7

68.4

3,501.7

85.4

66.5

Total

3,943.8

82.6

194.7

5,594.6

216.5

163.4

1Vice Chair until May 8, 2025. Luomakoski did not receive Board remuneration following his appointment as Interim President & CEO as of May 8, 2025. He was appointed as the President & CEO and stepped down from the Board on October 16, 2025.

2Stepped down as the President & CEO on May 8, 2025 and continued to receive base salary and benefits until the end of her notice period, November 8, 2025.

3Employees based in Finland

The key management consists of the Board of Directors, the President & CEO and the members of Corporate Management Team (Fiskars Group Leadership Team). The figures are presented on an accrual basis.

Fiskars Group Leadership Team belongs to share-based long-term incentive plans to which participants are selected by the Board of Directors annually. In 2025 there is one plan in place, Performance Share Plan 2021, which includes three on-going

performance periods for years 2023–2025, 2024–2026 and 2025–2027. The Board of Directors confirms the targets separately for each performance period and they are based on the company’s total shareholder return, cumulative comparable EBIT and circular economy during the vesting period. No reward will be paid if targets are not met or if the participant’s employment ends before reward payment. The expense recorded during the financial year for the corporate management team is included in the salaries and fees figures above.

Fiskars Group Leadership Team members who are part of Finnish social security system have a collective supplementary pension insurance, which includes an old-age pension at the retirement age, vested rights under certain conditions and indemnity payable at death. The amount of pension income is based on the insurance savings. The employer's contribution to the insurance plan is 20% of the preceding year's income, excluding bonuses, for CEO and 16%–20% of the preceding year's income, excluding bonuses, for Fiskars Group Leadership Team excl. CEO.

Auditor’s report

Other financial information

190

sustainability statement

Report by the Board of Directors

year 2025

Financial statements

The President and CEO’s compensation consists of base salary, annual short-term incentive plan and a share-based long-term incentive plan. The President and CEO will participate in performance periods of the long-term incentive plan from 2026. The President and CEO’s employment contract will end by the time of the statutory retirement age. The President and CEO and the Company have a notice period of six months. Remuneration upon dismissal by the Company equals annual base salary, in addition to the salary for the six-month notice period.

On February 7, 2023, it was announced that the Board of Directors of Fiskars Group decided on a management share ownership program aimed at the company’s CEO, the Group’s management team, and certain key personnel determined by the Board. In a paid directed share issue, a total of 156,401 shares held by the company were subscribed. More information about the incentive scheme can be found in note 2.5 Share-based payments. As part of the program, the Board decided to offer market-based co-financing for the subscription of the company’s shares by granting interest-bearing loans to the participants of the program. The maximum loan amount for the CEO and CFO was 50% and for other target groups 75% of the share investment amount. The total amount of financing granted by the company was EUR 1.4 million (2023: 1.2). The financing taken in March 2023 must be repaid by July 30, 2027, and the financing taken in March 2024 must be repaid by July 30, 2028.

Interest on the unpaid loan principal must be paid from the withdrawal date at a rate of 12-month Euribor plus a margin of 1.00%. Interest is due semi-annually on October 1 and April 1 until the entire loan is repaid. The borrowers have committed to pledging the purchased company shares as collateral for the loan repayment, if the Board later separately decides to approve the pledge based on the authorization received from the General Meeting.

Auditor’s report

Other financial information

191

sustainability statement

Report by the Board of Directors

year 2025

Financial statements

1. Parent company Accounting policies, FAS

The financial statements of Fiskars Corporation have been prepared in accordance with the Finnish Accounting Act and Ordinance and other statutes regulating the preparation of financial statements (Finnish Accounting Standards, FAS). The financial statements are presented in euros.

The preparation of financial statements in conformity with regulations in force and generally accepted Accounting policies requires management to make estimates and assumptions that affect the valuation of assets and liabilities and reported amounts of revenues and expenses. Actual results could differ from those estimates.

Transactions in foreign currencies

Transactions in foreign currencies are recorded at the rates of exchange prevailing at the date of the transaction. At the end of the reporting period balances in foreign currencies are translated using the exchange rate prevailing at the end of the reporting period. Foreign exchange derivatives are recognized at market values and changes in market values are recognized in the Income Statement.

Net sales

Net sales is defined as invoiced amount less indirect taxes, rebates and exchange rate differences related to sales. Revenue is recognized when all significant risks and rewards of ownership have been transferred to the buyer, i.e. when a product has been delivered to the client in accordance

with the terms of delivery. Royalty income from trademarks held by Fiskars Corporation is recorded as Net sales. Revenue from the sale of securities, dividends and other corresponding income from securities classified as inventories and other income such as service revenue are also recorded as Net sales.

Leasing arrangements

Lease payments are expensed as incurred. Future leasing payment obligations are reported as contingent liabilities. Rent income, when the company acts as a lessor, is recorded as net sales.

Pension benefit plans

The statutory and possible supplementary pension plans for the Finnish companies’ employees are funded through payments to independent pension insurance companies.

Income taxes

Income taxes consist of the aggregate current tax expense based on the Finnish tax rules and adjustments to prior year taxes. The parent company does not account for deferred taxes as a stand-alone entity.

Financial instruments

Long term loans are initially recognized at fair value and subsequently carried at amortised cost, or, in the case of the sustainability linked bond, valued using the effective interest rate method. The carrying amount of the bond is adjusted by the amount of change in its fair value to the extent the fair value of the bond is hedged.

Derivatives not designated as hedging instruments are recognized at fair value through profit and loss. Hedge accounting is not applied on foreign exchange derivatives. Foreign exchange derivatives are initially valued at cost and subsequently at fair value determined at the end of each reporting period. The fair value of derivatives is based on prevailing market rates or rates derived from the prevailing market rates at the end of the reporting period. Fair value changes are recognized in financial items.

Hedge accounting is applied to interest rate swaps (cash flow hedges and fair value hedges). Derivatives on which hedge accounting is applied are initially valued at cost and subsequently at fair value at the end of each reporting period. To the extent the cashflow hedges are effective, the fair value change is recognized through equity and through profit and loss once realized. Any ineffectiveness is recognized in financial items in profit and loss. Fair value changes of fair value hedges are recognized in financial items in profit and loss. The fair value is based on prevailing market rates or rates derived from the prevailing market rates at the end of the reporting period.

Hedge accounting is not applied on commodity derivatives. Fair value changes are recognized in financial items.

Tangible and intangible assets and other long- term investments

Tangible and intangible assets are stated at cost less accumulated depreciation according to plan. Certain land holdings have been revalued.

Auditor’s report

Other financial information

197

sustainability statement

Report by the Board of Directors

year 2025

Financial statements

Revaluations are based on market values at time of the revaluation. Revaluation reserves are adjusted for decreases in the market value of land holdings. When revalued real estate is sold, the respective share in the revaluation reserve is transferred to retained earnings.

Tangible and intangible assets are depreciated and amortized over their expected useful lives. The following expected useful lives are applied:

Intangible assets 3–10 years

Buildings and structures, investment properties 10–40 years

Other tangible assets 10–30 years

Machinery and equipment 3–10 years

Land and water Not depreciated

Investments in subsidiaries are stated in the Balance Sheet at cost or at net realizable value if the net realizable value is significantly and permanently impaired. An impairment loss may be reversed until the original acquisition cost, when the value of the investment has been restored.

Receivables

Receivables are valued at the lower of book value and recoverable value.

Provisions

Provisions in the balance sheet and income statement include such future expenses and losses that the company has committed to or that are otherwise considered probable.

Appropriations

Appropriations consist of depreciation in excess of plan and possible given or received group contributions.

2. Net sales

EUR

2025

2024

Inter-company service fee

72,565,723.47

60,680,668.13

Royalties

21,845,064.58

22,670,070.35

Rental income

4,032,942.80

3,890,217.56

Other

3,907,993.32

3,077,165.80

Total

102,351,724.17

90,318,121.84

3. Other operating income

EUR

2025

2024

Gain on sale of property, plant and equipment

457,058.91

1,133,156.80

Other income

241,255.92

876,808.97

Total

698,314.83

2,009,965.77

4. Total expenses

Total expenses by nature

EUR

2025

2024

Materials and supplies

-18,460.83

-22,954.55

External services, operative

-628,352.99

-481,904.13

Employee benefits

-17,532,209.96

-18,883,622.85

Depreciation, amortization and impairment

-11,543,529.76

-18,038,161.00

IT expenses

-29,903,404.76

-26,602,987.17

Consulting fees

-8,785,440.76

-9,545,816.96

External services

-4,892,217.92

-3,372,925.58

Loss on disposal of fixed assets 1

-26,784,794.39

-365,413.79

Liquidation of other receivables

-476,335.81

Other

-7,254,637.65

-7,390,083.57

Total

-107,343,049.02

-85,180,205.41

1 In 2025, EUR 26.8 million of loss on scrap of fixed assets was related to a write-off concerning internally generated intangible digital and IT assets.

5. Audit fees

EUR

2025

2024

Audit fees

-390,426.00

-504,401.09

Sustainability reporting assurance fees

-108,446.00

-69,525.00

Tax consultation

-7,850.00

-17,330.00

Other

-103,011.75

-27,946.38

Total

-609,733.75

-619,202.47

Auditor’s report

Other financial information

198

sustainability statement

Report by the Board of Directors

year 2025

Financial statements

6. Employee benefits and number of personnel

Employee benefits

EUR

2025

2024

Wages and salaries

-14,388,342.58

-15,730,482.71

Pension costs

-2,736,579.27

-2,856,565.40

Other personnel costs

-407,288.11

-296,574.74

Total

-17,532,209.96

-18,883,622.85

Remuneration to management

EUR thousand

2025

2024

Chief Executive Officer, Jyri Luomakoski 1

687.6

137.3

Chief Executive Officer, Nathalie Ahlström 2

632.1

1,486.4

Members of the Board

865.1

834.7

Total

2,184.8

2,458.4

1 Vice Chair of the Board of Directors until May 8, 2025. Luomakoski did not receive Board remuneration following his appointment as Interim President & CEO as of May 8, 2025. He was appointed as the President & CEO and stepped down from the Board on October 16, 2025

2 Stepped down as the President & CEO on May 8, 2025 and continued to received base salary and benefits until the end of her notice period, November 8, 2025

Related party loans

The Company has total EUR 1.4 million of loan receivables related to management share ownership program aimed at the company's CEO, the Group's management team, and certain key personnel determined by the Board. As part of the program, the Board decided to offer market-based co-financing for the subscription of the company’s shares by granting interest-bearing loans to the participants of the program. The maximum loan amount for the CEO and CFO was 50% and for other target groups 75% of the share investment amount. The financing taken in March 2023 must be repaid by July 30, 2027, and the financing taken in March 2024 must be repaid by July 30, 2028.

Interest on the unpaid loan principal must be paid from the withdrawal date at a rate of 12-month Euribor plus a margin of 1.00%. Interest is due semi- annually on October 1 and April 1 until the entire loan is repaid. The borrowers have committed to pledging the purchased company shares as collateral for the loan repayment, if the Board later separately decides to approve the pledge based on the authorization received from the General Meeting.

Number of personnel

2025

2024

Average (FTE)

175

192

End of period

174

178

7. Financial income and expenses

EUR

2025

2024

Financial income

Exchange gain

43,442,584.79

32,742,622.06

Commodity gain

2,857,821.23

184,253.58

Financial income from group companies

Interest income short term

20,460,847.03

28,869,777.25

Interest income long term

1,070,930.74

1,057,048.52

Other financial income

2,904,269.24

0.00

Financial income from third parties

Dividend income

183,141.82

148,054.92

Interest income short term

2,895,151.90

2,839,970.99

Interest income long term

49,855.49

66,612.11

Other financial income

1,442,445.69

2,899,936.25

Financial income, total

75,307,047.93

68,808,275.68

Financial expenses

Loss on disposal of financial assets

-1,613,399.59

Exchange loss

-49,618,597.33

-28,738,502.34

Commodity loss

-2,908,107.94

-287,616.57

Financial expenses to group companies

Interest expenses

-3,744,788.72

-7,185,228.02

Other financial expenses

-3,995,446.46

Financial expenses to third parties

Interest expenses short term

-9,116,306.65

-7,282,847.29

Interest expenses long term

-15,624,924.86

-17,255,678.43

Other financial expenses

-631,364.45

-750,879.90

Financial expenses, total

-81,644,089.95

-67,109,598.60

Total financial income and expenses

-6,337,042.02

1,698,677.08

Auditor’s report

Other financial information

199

sustainability statement

Report by the Board of Directors

year 2025

Financial statements

8. Appropriations

EUR

2025

2024

Group contribution paid

-6,957,168.00

Total

-6,957,168.00

9. Income taxes

EUR

2025

2024

Income tax, current year

-146,166.14

-534,284.33

Income tax, previous periods

284,554.63

Total

138,388.49

-534,284.33

10. Intangible assets

EUR

2025

2024

Historical cost, Jan 1

100,409,280.31

107,878,727.98

Additions

11,935,047.13

20,919,062.89

Decreases

-53,271,289.73

-29,177,407.78

Transfers between asset groups

788,897.22

Historical cost, Dec 31

59,073,037.71

100,409,280.31

Accumulated amortization and impairment, Jan 1

-37,636,025.09

-50,047,376.50

Amortization for the period

-9,736,364.57

-16,396,642.59

Decreases 1

26,499,076.87

28,807,994.00

Accumulated amortization and impairment, Dec 31

-20,873,312.79

-37,636,025.09

Net book value, Dec 31

38,199,724.92

62,773,255.22

1 In 2025, EUR 26.8 million of decreases was related to a write-off concerning internally generated intangible digital and IT assets.

Auditor’s report

Other financial information

200

sustainability statement

Report by the Board of Directors

year 2025

Financial statements

11. Tangible assets

2025

EUR

Land and water

Buildings and structures

Machinery and

equipment

Other tangible

assets

Investment

properties

Construction

in progress

Total

Historical cost, Jan 1

25,992,793.88

28,617,113.75

2,518,051.35

4,389,164.05

13,800,881.99

4,061,658.44

79,379,663.46

Additions

217,093.19

148,520.00

189,741.16

343,544.90

411,788.32

1,310,687.57

Decreases

-6,252.09

-3,743,912.31

-248,012.51

-30,971.96

-159,459.26

-4,188,608.13

Transfers between asset groups

642,602.08

37,784.85

11,143.54

3,200,251.21

-3,891,781.68

0.00

Historical cost, Dec 31

25,986,541.79

25,732,896.71

2,456,343.69

4,559,076.79

17,185,218.84

581,665.08

76,501,742.90

Accumulated depreciation and impairment, Jan 1

-19,884,229.36

-1,609,805.57

-2,418,263.83

-7,541,031.38

-31,453,330.14

Depreciation for the period

-735,963.37

-137,278.92

-158,978.78

-774,944.12

-1,807,165.19

Decreases

3,733,047.10

248,012.51

25,449.14

159,265.76

4,165,774.51

Accumulated depreciation and impairment, Dec 31

-16,887,145.63

-1,499,071.98

-2,551,793.47

-8,156,709.74

-29,094,720.82

Revaluation, Jan 1

9,539,122.62

9,539,122.62

Decreases

-22,509.57

-22,509.57

Revaluation, Dec 31

9,516,613.05

9,516,613.05

Book value Dec 31

35,503,154.84

8,845,751.08

957,271.71

2,007,283.32

9,028,509.10

581,665.08

56,923,635.13

Auditor’s report

Other financial information

201

sustainability statement

Report by the Board of Directors

year 2025

Financial statements

2024

EUR

Land and water

Buildings and structures

Machinery and

equipment

Other tangible

assets

Investment

properties

Construction

in progress

Total

Historical cost, Jan 1

26,011,277.08

28,097,438.35

2,794,058.51

4,364,316.71

12,520,384.16

3,865,746.26

77,653,221.07

Additions

134,640.48

225,576.83

29,224.94

181,089.56

2,801,776.98

3,372,308.79

Decreases

-18,483.20

-26,412.64

-501,583.99

-4,377.60

-306,111.75

-856,969.18

Transfers between asset groups

411,447.56

1,405,520.02

-2,605,864.80

-788,897.22

Historical cost, Dec 31

25,992,793.88

28,617,113.75

2,518,051.35

4,389,164.05

13,800,881.99

4,061,658.44

79,379,663.46

Accumulated depreciation and impairment, Jan 1

-19,193,576.45

-1,952,748.91

-2,265,176.72

-7,238,795.62

-30,650,297.70

Depreciation for the period

-717,065.55

-158,640.65

-157,464.71

-608,347.50

-1,641,518.41

Decreases

26,412.64

501,583.99

4,377.60

306,111.74

838,485.97

Accumulated depreciation and impairment, Dec 31

-19,884,229.36

-1,609,805.57

-2,418,263.83

-7,541,031.38

-31,453,330.14

Revaluation, Jan 1

9,569,177.63

9,569,177.63

Decreases

-30,055.01

-30,055.01

Revaluation, Dec 31

9,539,122.62

9,539,122.62

Book value Dec 31

35,531,916.50

8,732,884.39

908,245.78

1,970,900.22

6,259,850.61

4,061,658.44

57,465,455.94

Auditor’s report

Other financial information

202

sustainability statement

Report by the Board of Directors

year 2025

Financial statements

12. Investments

2025

EUR

Holdings in subsidiaries

Other shares

Total

Historical cost, Jan 1

976,174,887.25

18,185,718.06

994,360,605.31

Decreases

-1,096,246.31

-1,096,246.31

Currency valuations

-1,590,261.92

-1,590,261.92

Historical cost, Dec 31

976,174,887.25

15,499,209.83

991,674,097.08

Write-downs, Jan 1

-181,000,000.00

-764,394.28

-181,764,394.28

Write-downs, Dec 31

-181,000,000.00

-764,394.28

-181,764,394.28

Book value Dec 31

795,174,887.25

14,734,815.55

809,909,702.80

2024

EUR

Holdings in subsidiaries

Other shares

Total

Historical cost, Jan 1

821,174,887.25

18,285,832.00

839,460,719.25

Additions

155,000,000.00

155,000,000.00

Decreases

-954,898.30

-954,898.30

Currency valuations

854,784.36

854,784.36

Historical cost, Dec 31

976,174,887.25

18,185,718.06

994,360,605.31

Write-downs, Jan 1

-181 000 000,00

-764 394,28

-181 764 394,28

Write-downs, Dec 31

-181 000 000,00

-764 394,28

-181 764 394,28

Book value Dec 31

795 174 887,25

17 421 323,78

812 596 211,03

Auditor’s report

Other financial information

203

sustainability statement

Report by the Board of Directors

year 2025

Financial statements

Shares in subsidiaries

Number of shares

Domicile

% of share capital

% of voting power

Book value

Fiskars Americas Holding Oy Ab

1,000

Raseborg

FI

100.0

100.0

110,071,862.76

Fiskars Group SC Finland Oy Ab 1

2,250

Raseborg

FI

100.0

100.0

685,098,092.55

Fiskars SC Finland Oy Ab

2,250

Espoo

FI

100.0

100.0

0.00

Fiskars (Thailand) Co., Ltd.

100

Bangkok

TH

1.0

1.0

2,409.12

Ab Åbo Båtvarf - Turun Veneveistämö Oy

150

Turku

FI

100.0

100.0

2,522.82

Total Dec 31, 2025

795,174,887.25

1 The name of Fiskars Europe Holding Oy Ab was changed to Fiskars Group SC Finland Oy Ab in 2025.

13. Receivables from subsidiaries

EUR

2025

2024

Loan receivables, long term

17,021,276.60

19,251,131.00

Trade receivables

67,680,492.30

52,530,760.76

Loan receivables, short term

450,676,110.09

474,679,953.31

Cash pool receivables

2,318,798.08

4,303,300.63

Prepayments and accrued income

4,082,889.69

8,576,761.43

Prepaid and accrued interest

26,099,153.00

26,930,205.14

Total, Dec 31

567,878,719.76

586,272,112.27

14. Prepayments and accrued income

EUR

2025

2024

Prepaid and accrued interest

1,276,889.79

1,206,185.64

Other prepayments and accruals

7,955,732.47

7,678,011.05

Total, Dec 31

9,232,622.26

8,884,196.66

15. Cash and cash equivalents

EUR

2025

2024

Cash and cash equivalents

53,698,733.02

35,952,830.43

Total, Dec 31

53,698,733.02

35,952,830.43

Auditor’s report

Other financial information

204

sustainability statement

Report by the Board of Directors

year 2025

Financial statements

16. Shareholders' equity

EUR

2025

2024

Share capital

Jan 1

77,510,200.00

77,510,200.00

Share capital, Dec 31

77,510,200.00

77,510,200.00

Revaluation reserve

Jan 1

9,539,122.62

9,569,177.63

Decrease

-22,509.57

-30,055.01

Revaluation reserve, Dec 31

9,516,613.05

9,539,122.62

Reserve for invested non- restricted equity

Jan 1

2,815,000.56

2,590,000.56

Increase

225,000.00

Reserve for invested non- restricted equity, Dec 31

2,815,000.56

2,815,000.56

Fair value reserve

Jan 1

-1,271,571.55

-575,307.46

Increase

752,463.40

123,785.00

Decrease

-820,049.09

Fair value reserve, Dec 31

-519,108.15

-1,271,571.55

Treasury shares

Jan 1

-2,082,455.31

-3,018,165.97

Increase

-3,565,241.27

-595,992.58

Share based incentives

215,185.53

1,336,730.25

Management ownership program

194,972.99

Treasury shares, Dec 31

-5,432,511.05

-2,082,455.31

EUR

2025

2024

Other reserves

Jan 1

3,204,313.18

3,204,313.18

Other reserves, Dec 31

3,204,313.18

3,204,313.18

Retained earnings

Jan 1

789,752,740.47

856,260,571.31

Dividends

-67,818,940.44

-66,331,234.55

Share based incentives

-215,185.53

-1,336,730.25

Management ownership program

-194,972.99

Net profit

-10,491,663.55

1,355,106.95

Retained earnings, Dec 31

711,226,950.95

789,752,740.47

Distributable earnings, Dec 31

708,609,440.46

790,485,285.72

Shareholders' equity total, Dec 31

798,321,458.54

879,467,349.97

17. Non-current liabilities

EUR

2025

2024

Loans from credit institutions payable

between one and five years

130,000,000.00

130,024,427.03

Issued bonds 1

200,600,722.77

200,966,369.00

Loans from credit institutions, total

330,600,722.77

330,900,796.03

Rental deposits received

136,117.62

125,287.62

Other long-term liabilities, total

136,117.62

125,287.62

Liabilities to subsidiaries

between one and five years

2,398.36

2,398.36

Liabilities to subsidiaries, total

2,398.36

2,398.36

Non-current liabilities, total

330,739,238.75

331,118,482.01

1 The nominal amount of the bond equals EUR 200 million. The main terms of the bond are presented in Note 5.4 to the Group financial statements.

18. Liabilities to subsidiaries

EUR

2025

2024

Trade payables

920,888.41

51,183.59

Cash pool payables

157,437,262.76

124,063,430.62

Group contribution payables

6,957,168.00

Accruals and deferred income

713,246.35

997,829.39

Other liabilities

74,018,369.96

111,533,907.07

Total, Dec 31

233,089,767.48

243,603,518.67

Auditor’s report

Other financial information

205

sustainability statement

Report by the Board of Directors

year 2025

Financial statements

19. Accruals and deferred income

EUR

2025

2024

Interests

3,643,442.61

3,438,333.52

Wages, salaries and social costs

3,112,286.92

3,513,525.96

Other

3,705,379.75

3,696,945.13

Total, Dec 31

10,461,109.28

10,648,804.61

20. Lease obligations

EUR

2025

2024

Payments next year

3,518,158.00

3,230,539.00

Payments later

22,788,207.00

27,399,970.00

Total, Dec 31

26,306,365.00

30,630,509.00

21. Contingencies and pledged assets

EUR

2025

2024

Other contingencies

17,021,000.00

18,289,000.00

Guarantees as security for subsidiaries' commitments

8,238,000.00

10,378,000.00

Total, Dec 31

25,259,000.00

28,667,000.00

VAT liability for real estate investments

The company is obligated to review the VAT deductions made on real estate investments completed during 2016–2025 if the taxable use of the property has changed during the review period.

EUR

2025

2024

Obligation, Dec 31

3,658,555.00

3,082,768.00

22. Derivative contracts

Nominal value, EUR

2025

2024

Foreign exchange forwards and swaps

393,796,441.89

338,302,482.30

Interest rate swaps

110,000,000.00

165,000,000.00

Cross currency swaps 1

18,554,596.90

18,554,596.90

Commodity derivatives

11,995,112.77

6,415,107.33

Total, Dec 31

534,346,151.56

528,272,186.53

Fair value, EUR

2025

2024

Foreign exchange forwards and swaps

266,548.86

-1,369,525.63

Interest rate swaps

800,832.20

684,289.98

Cross currency swaps

1,297,846.50

-944,932.82

Commodity derivatives

3,160,955.81

-97,745.61

Total, Dec 31

5,526,183.37

-1,727,914.08

1 A cross-currency swap is a contract between two parties under which both principal and interest payments are exchanged in different currencies.

The valuation principles for derivatives are described in the Group's Note 5.6.

Auditor’s report

Other financial information

206

sustainability statement

Report by the Board of Directors

year 2025

Financial statements

Signatures to the Financial Statements and the Board of Directors’ Report

Espoo, February 4, 2026

Albert Ehrnrooth Paul Ehrnrooth

Louise Fromond Julia Goldin

Rolf Ladau Carl-Martin Lindahl

Susan Repo Susanne Skippari

Jyri Luomakoski President and CEO

The Auditor’s Note

Our auditor's report has been issued today.

Espoo, February 4, 2026 Ernst & Young Oy Authorized Public Accountant Firm

Toni Halonen Authorized Public Accountant, KHT

Auditor’s report

Other financial information

208

sustainability statement

Report by the Board of Directors

year 2025

Financial statements

Key Audit Matter

How our audit addressed the Key Audit Matter

Revenue recognition

We refer to note 2.1 of the consolidated financial statements.

According to the Group’s accounting policies revenue is recognized when control of the good or service is transferred to the customer. Customer discounts and credits are considered when determining the revenue.

Assessing subsequent discounts and credits require management judgment both at the time of revenue recognition as well as at the end of each reporting period. Due to the multitude and variety of contractual terms across the group’s markets management judgment is needed to account for the revenue, and therefore, revenue could be subject to misstatement, whether due to fraud or error. Based on above revenue recognition was a key audit matter.

This matter is also a significant risk of material misstatement as defined by EU Regulation No 537/2014, point (c) of Article 10(2).

Our audit procedures to address the risk of material misstatement in respect of correct timing of revenue recognition included among others:

Assessment of the compliance of the group’s accounting policies over revenue recognition, including those relating to discounts and credits, with applicable accounting standards.

Assessment of the revenue recognition process especially relating to timing of revenue. recognition, and calculation of discounts and credits.

Testing the accuracy of cut-off with analytical procedures and test of details on a transaction level on either side of the balance sheet date.

Analyzing credit notes issued after the balance sheet date.

Assessment of the Group’s disclosures in respect of revenues.

Key Audit Matter

How our audit addressed the Key Audit Matter

Valuation of goodwill

We refer to note 3.1 of the consolidated financial statements.

The value of goodwill at the date of the financial statements 31.12.2025 amounted to 218.1 million euro representing 13% of total assets and 31% of equity.

Valuation of goodwill was a key audit matter because the assessment process is complex and includes significant management judgement and

estimates, and because the amount of goodwill is significant to the financial statements.

Valuation of goodwill is based on management’s estimate about the value in use calculations of the cash generating units. There are a number of underlying assumptions used to determine the value in use, including development of revenue and profitability and the discount rate applied on cash flows.

Estimated value in use of the cash generating units may vary significantly when the underlying assumptions are changed. Changes in above- mentioned individual assumptions may result in an impairment of goodwill.

Valuation of goodwill is also a significant risk of material misstatement as defined by EU Regulation No 537/2014, point (c) of Article 10(2).

Our audit procedures to address the risk of material misstatement in respect of valuation of goodwill included among others:

Involvement of EY valuation specialists to assist us in evaluating methodologies, impairment calculations and underlying assumptions applied by the management in impairment testing.

Testing of the mathematical accuracy of the impairment calculations.

Comparing the key assumptions applied by management in impairment tests to approved strategic plans and forecasts, information available in external sources and our independently calculated industry averages such as weighted average cost of capital used in discounting the cashflows. In addition, we compared the outcome of the impairment test with Fiskars’ market capitalization.

Assessment of the Group’s disclosures in respect of impairment testing.

Other financial information

210

Financial statements

sustainability statement

Report by the Board of Directors

year 2025

Auditor’s report

Key Audit Matter

How our audit addressed the Key Audit Matter

Valuation of trademarks

We refer to note 3.1 of the consolidated financial statements.

The Group has 10 trademarks, for which the value at the date of the financial statements 31.12.2025 amounted to 275.3 million euro representing 17% of total assets and 39% of equity.

Trademarks with indefinite useful life are tested for impairment at least annually.

Valuation of trademarks is based on management’s estimate about the value in use calculations of the trademarks. Management prepares the impairment tests of trademarks based on the “relief from royalty” -method. There are a number of underlying assumptions used to determine the value in use, including development of revenue for individual trademarks and the discount rate applied on cash flows.

Valuation of trademarks was a key audit matter because the assessment process is complex and includes significant management judgement and

estimates, and because the value of trademarks is significant to the financial statements.

Estimated value in use of the trademarks may vary significantly when the underlying assumptions are changed. Changes in above- mentioned individual assumptions may result in an impairment of trademarks.

Valuation of trademarks is also a significant risk of material misstatement as defined by EU Regulation No 537/2014, point (c) of Article 10(2).

Our audit procedures to address the risk of material misstatement in respect of valuation of trademarks included among others:

Involvement of EY valuation specialists to assist us in evaluating methodologies, impairment calculations and underlying assumptions applied by the management in impairment testing.

Testing of the mathematical accuracy of the impairment calculations.

Comparing the key assumptions applied by management in impairment tests to approved strategic plans and forecasts, information available in external sources and our independently calculated industry averages such as weighted average cost of capital used in discounting the cashflows. In addition, we compared the outcome of the impairment test with Fiskars’ market capitalization.

Assessment of the Group’s disclosures in respect of impairment testing.

Key Audit Matter

How our audit addressed the Key Audit Matter

Valuation of inventories

We refer to note 4.1 of the consolidated financial statements.

Inventories are valued at the lower of cost or net realizable value. Inventories are presented net of an impairment loss recognized for obsolete and slow-moving inventories. At the balance sheet date, the gross value of inventory and related provision for obsolete goods amounted to 335.9 million euro and 12.9 million euro, respectively (net inventory 322.9 million euro).

Valuation of inventories was a key audit matter because the carrying value of inventories and related provisions are material to the financial statements, and because valuation of inventories requires management judgment relating to future sales and the level of provision for obsolete goods.

Our audit procedures included among others:

Assessment of the Group’s accounting policies over inventory valuation from the perspective of applicable accounting standards.

Evaluation of the analyses and calculations made by management with respect to slow moving and obsolete stock and the expected demand and net realizable value related to the inventory items.

Assessment of the Group’s disclosures in respect of valuation policies and balance sheet date value of inventories.

Other financial information

211

Financial statements

sustainability statement

Report by the Board of Directors

year 2025

Auditor’s report

Responsibilities of the Board of Directors and the Managing Director for the Financial Statements

The Board of Directors and the Managing Director are responsible for the preparation of consolidated financial statements that give a true and fair view in accordance with IFRS Accounting Standards as adopted by the EU, and of financial statements that give a true and fair view in accordance with the laws and regulations governing the preparation of financial statements in Finland and comply with statutory requirements. The Board of Directors and the Managing Director are also responsible for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Board of Directors and the Managing Director are responsible for assessing the parent company’s and the group’s ability to continue as going concern, disclosing, as applicable, matters relating to going concern and using the going concern basis of accounting. The financial statements are prepared using the going concern basis of accounting unless there is an intention to liquidate the parent company or the group or cease operations, or there is no realistic alternative but to do so.

Auditor’s Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance on whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with good auditing practice will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the financial statements.

As part of an audit in accordance with good auditing practice, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but

not for the purpose of expressing an opinion on the effectiveness of the parent company’s or the group’s internal control.

Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.

Conclude on the appropriateness of the Board of Directors’ and the Managing Director’s use of the going concern basis of accounting and based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the parent company’s or the group’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the parent company or the group to cease to continue as a going concern.

Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events so that the financial statements give a true and fair view.

Plan and perform the group audit to obtain sufficient appropriate audit evidence regarding the financial information of the entities or business units within the group as a basis for forming an opinion on the group financial statements. We are responsible for the direction, supervision and

Other financial information

212

Financial statements

sustainability statement

Report by the Board of Directors

year 2025

Auditor’s report

review of the audit work performed for purposes of the group audit. We remain solely responsible for our audit opinion.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the financial statements of the current period and are therefore the key audit matters. We describe these matters in our auditor’s report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.

Other Reporting Requirements

Information on our audit engagement

We were first appointed as auditors by the Annual General Meeting on March 13, 2019, and

our appointment represents a total period of uninterrupted engagement of seven years.

Other information

The Board of Directors and the Managing Director are responsible for the other information. The other information comprises the report of the Board of Directors and the information included in the Annual Report, but does not include the financial statements and our auditor’s report thereon. We have obtained the report of the Board of Directors prior to the date of this auditor’s report, and the Annual Report is expected to be made available to us after that date.

Our opinion on the financial statements does not cover the other information.

In connection with our audit of the financial statements, our responsibility is to read the other information identified above and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated. With respect to report of the Board of Directors, our responsibility also includes considering whether the report of the Board of Directors has been prepared in compliance with the applicable provisions, excluding the sustainability report information on which there are provisions in Chapter 7 of the Accounting Act and in the sustainability reporting standards.

In our opinion, the information in the report of the Board of Directors is consistent with the information in the financial statements and the report of the Board of Directors has been prepared in compliance with

the applicable provisions. Our opinion does not cover the sustainability report information on which there are provisions in Chapter 7 of the Accounting Act and in the sustainability reporting standards.

If, based on the work we have performed on the other information that we obtained prior to the date of this auditor’s report, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Other statements based on law

Our responsibility is to, based on our audit, express an opinion on the registration and publication of the income tax report required in Chapter 7 b of the Accounting Act.

The Board of Directors and the Managing Director are responsible for the registration and the publication of the income tax report.

In our opinion, the company has not been obliged to register and publish an income tax report referred to in Chapter 7 b of the Accounting Act for the financial year immediately preceding the financial year.

Espoo 4.2.2026

Ernst & Young Oy Authorized Public Accountant Firm

Toni Halonen Authorized Public Accountant

Other financial information

213

Financial statements

sustainability statement

Report by the Board of Directors

year 2025

Auditor’s report

Firm to design, implement and operate a system of quality management including policies or procedures regarding compliance with ethical requirements, professional standards and applicable legal and regulatory requirements.

Responsibilities of the Board of Directors and the Managing Director

The Board of Directors and the Managing Director of Fiskars Corporation are responsible for:

the group sustainability statement and for its preparation and presentation in accordance with the provisions of Chapter 7 of the Accounting Act, including the process that has been defined in the sustainability reporting standards and in which the information for reporting in accordance with the sustainability reporting standards has been identified,

the compliance of the group sustainability statement with the requirements laid down in Article 8 of the Regulation (EU) 2020/852 of the European Parliament and of the Council on the establishment of a framework to facilitate sustainable investment, and amending Regulation (EU) 2019/2088, and for

such internal control as the Board of Directors and the Managing Director determine is necessary to enable the preparation of a group sustainability statement that is free from material misstatement, whether due to fraud or error.

Inherent Limitations in the Preparation of a Sustainability Statement

The preparation of the group sustainability statement requires a materiality assessment from the

company in order to identify relevant disclosures. This significantly involves management judgment and choices. Group Sustainability reporting is also characterized by the fact that reporting of this type of information involves estimates and assumptions, as well as measurement and assessment uncertainty.

The determination of greenhouse gases is subject to inherent uncertainty due to the incomplete scientific data used to determine the emission factors and the numerical values needed to combine emissions of different gases.

When reporting future-related information in accordance with the ESRS standards, the company’s management must present assumptions regarding possible future events and disclose the company's potential future actions related to these events, as well as prepare future-related information based on these assumptions. The actual outcome is likely to differ, as predicted events often do not occur as expected.

Responsibilities of the Authorized Group Sustainability Auditor

Our responsibility is to perform an assurance engagement to obtain limited assurance about whether the group sustainability statement is free from material misstatement, whether due to fraud or error, and to issue a limited assurance report that includes our opinion. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the decisions of users taken on the basis of the group sustainability statement.

Compliance with the International Standard on Assurance Engagements (ISAE) 3000 (Revised) requires that we exercise professional judgment and maintain professional skepticism throughout the engagement. We also:

Identify and assess the risks of material misstatement of the group sustainability statement, whether due to fraud or error, and obtain an understanding of internal control relevant to the engagement in order to design assurance procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the parent company’s or the group’s internal control.

Design and perform assurance procedures responsive to those risks to obtain evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

Description of the Procedures That Have Been Performed

The procedures performed in a limited assurance engagement vary in nature and timing from, and are less in extent than for, a reasonable assurance engagement. The nature, timing and extent of assurance procedures selected depend on professional judgment, including the assessment of risks of material misstatement, whether due to fraud or error. Consequently, the level of assurance obtained in a limited assurance engagement is

Other financial information

215

Financial statements

sustainability statement

Report by the Board of Directors

year 2025

Auditor’s report

substantially lower than the assurance that would have been obtained had a reasonable assurance engagement been performed.

Our procedures included for ex. the following:

We have interviewed the management of the group as well as key personnel responsible for collecting and reporting of the information included in the group sustainability statement.

Through interviews, we gained an understanding of the group’s control environment related to the group sustainability reporting process.

We evaluated the implementation of the company's double materiality assessment process in relation to the requirements of the ESRS standards, as well as whether the information provided from the double materiality assessment is in material respects in accordance with the ESRS standards.

We assessed whether the group sustainability statement in material respects meets the requirements of the ESRS standards regarding material sustainability topics:

We have tested the accuracy of the information presented in the group sustainability statement by comparing the information on a sample basis to the documentation and records prepared by the company and assessed whether they support the information included in the group sustainability statement.

We have on a sample basis performed analytical assurance procedures and related inquiries, recalculations and inspected documentation, as well as tested data aggregation to assess the accuracy of the group sustainability statement.

We conducted site visits at selected locations.

Regarding EU Taxonomy data, we gained an understanding of the process by which a company has defined taxonomy-eligible and taxonomy- aligned economic activities, and we assessed the compliance of the information provided.

Espoo 4.2.2026

Ernst & Young Oy Authorized Sustainability Audit Firm

Toni Halonen Authorized Sustainability Auditor

Other financial information

216

Financial statements

sustainability statement

Report by the Board of Directors

year 2025

Auditor’s report

Independent Auditor’s Report on the ESEF Consolidated Financial Statements of Fiskars Oyj Abp

(Translation of the Finnish original)

To the Board of Directors of Fiskars Oyj Abp

We have performed a reasonable assurance engagement on the financial statements Fiskars- 2025-12-31-fi.zip of Fiskars Oyj Abp (y-identifier: 0214036-5) that have been prepared in accordance with the Commission’s regulatory technical standard for the financial year ended 31.12.2025.

Responsibilities of the Board of Directors and the Managing Director

The Board of Directors and the Managing Director are responsible for the preparation of the company’s report of Board of Directors and financial statements (the ESEF financial statements) in such a way that they comply with the requirements of the Commission’s regulatory technical standard. This responsibility includes:

preparing the ESEF financial statements in XHTML format in accordance with Article 3 of the Commission’s regulatory technical standard

tagging the primary financial statements, notes and company’s identification data in the consolidated

financial statements that are included in the ESEF financial statements with iXBRL tags in accordance with Article 4 of the Commission’s regulatory technical standard and

ensuring the consistency between the ESEF financial statements and the audited financial statements.

The Board of Directors and the Managing Director are also responsible for such internal control as they determine is necessary to enable the preparation of ESEF financial statements in accordance the requirements of the Commission’s regulatory technical standard.

Auditor’s Independence and Quality Management

We are independent of the company in accordance with the ethical requirements that are applicable in Finland and are relevant to the engagement we have performed, and we have fulfilled our other ethical responsibilities in accordance with these requirements.

The firm applies International Standard on Quality Management (ISQM) 1, which requires the firm to design, implement and operate a system of quality

management including policies or procedures regarding compliance with ethical requirements, professional standards and applicable legal and regulatory requirements.

Auditor’s Responsibilities

Our responsibility is to, in accordance with Chapter 7, Section 8 of the Securities Markets Act, provide assurance on the financial statements that have been prepared in accordance with the Commission’s technical regulatory standard. We express an opinion on whether the consolidated financial statements that are included in the ESEF financial statements have been tagged, in all material respects, in accordance with the requirements of Article 4 of the Commission's regulatory technical standard.

Our responsibility is to indicate in our opinion to what extent the assurance has been provided. We conducted a reasonable assurance engagement in accordance with International Standard on Assurance Engagements (ISAE) 3000.

Other financial information

217

Financial statements

sustainability statement

Report by the Board of Directors

year 2025

Auditor’s report

The engagement includes procedures to obtain evidence on:

whether the primary financial statements in the consolidated financial statements that are included in the ESEF financial statements have been tagged, in all material respects, with iXBRL tags in accordance with the requirements of Article 4 of the Commission's regulatory technical standard and

whether the notes and company's identification data in the consolidated financial statements that are included in the ESEF financial statements have been tagged, in all material respects, with iXBRL tags in accordance with the requirements of Article 4 of the Commission's regulatory technical standard and

whether there is consistency between the ESEF financial statements and the audited financial statements.

The nature, timing and extent of the selected procedures depend on the auditor’s judgement. This includes an assessment of the risk of material deviations due to fraud or error from the requirements of the Commission’s technical regulatory standard.

We believe that the evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Opinion

Our opinion pursuant to Chapter 7, Section 8 of the Securities Markets Act is that the primary financial statements, notes and company's identification data in the consolidated financial statements that are included in the ESEF financial statements of Fiskars Oyj Abp Fiskars-2025-12-31-fi.zip for the financial year ended 31.12.2025 have been tagged, in all material respects, in accordance with the requirements of the Commission's regulatory technical standard.

Our opinion on the audit of the consolidated financial statements of Fiskars Oyj Abp for the financial year ended 31.12.2025 has been expressed in our auditor's report dated 4.2.2026. With this report we do not express an opinion on the audit of the consolidated financial statements nor express another assurance conclusion.

Helsinki 13.2.2026

Ernst & Young Oy Authorized Public Accountant Firm

Toni Halonen Authorized Public Accountant

Other financial information

218

Financial statements

sustainability statement

Report by the Board of Directors

year 2025

Auditor’s report

EUR million

2025

2024

EBIT

38.1

37.1

Depreciation and amortization

84.1

82.5

EBITDA

122.2

119.6

Items affecting comparability in EBIT

Organizational changes

8.0

18.5

Trademark impairment

5.2

Digital & IT asset write-off

26.4

Business Area separation

4.0

0.3

Georg Jensen acquisition / Inventory fair value step-up release

41.1

Georg Jensen acquisition / Gain from negative goodwill

6.0

Georg Jensen acquisition / Transaction costs

0.1

Georg Jensen acquisition / Integration costs

3.4

Sale of Watering business

-5.3

4.9

Total items affecting comparability in EBIT

38.4

74.3

Comparable EBIT

76.4

111.4

Depreciation and amortization, excl. IAC

78.9

82.0

Comparable EBITDA

155.3

193.5

EBIT and Comparable EBIT by income statement line item

2025

2024

EUR million

Total

Items affecting comparability

Excl. Items affecting comparability

Total

Items affecting comparability

Excl. Items affecting comparability

Net sales

1,140.2

1,140.2

1,157.1

1,157.1

Cost of goods sold

-605.1

2.3

-602.8

-640.0

47.1

-593.0

Sales and marketing expenses

-333.2

8.4

-324.7

-324.4

8.3

-316.1

Administration expenses

-127.1

6.2

-120.9

-132.1

7.9

-124.2

Research and development expenses

-22.9

0.1

-22.8

-18.8

0.2

-18.6

Other operating income and expenses

-13.9

21.5

7.5

-4.7

10.9

6.2

EBIT

38.1

38.4

76.4

37.1

74.4

111.4

Auditor’s report

220

Financial statements

sustainability statement

Report by the Board of Directors

year 2025

Other financial information

Pioneering design to make the everyday extraordinary

Fiskars Group in brief Fiskars Group (FSKRS, Nasdaq Helsinki) is the global home of design-driven brands for indoor and outdoor living. Since 1649, we have designed products of timeless, purposeful, and functional beauty, while driving innovation and sustainable growth. In 2025, Fiskars Group’s global net sales were EUR 1.1 billion, and we had approximately 6,600 employees. We have two Business Areas (BA), Vita and Fiskars.

BA Vita offers products in the high-end homeware segment as well as fine branded jewelry. Its desirable brands include Georg Jensen, Royal Copenhagen, Wedgwood, Moomin Arabia, Iittala and Waterford. In 2025, BA Vita’s reported net sales were EUR 613 million, and it had approximately 5,000 employees.

BA Fiskars offers functional innovations in the gardening and outdoor categories, in addition to the scissors and creating, as well as cooking categories. The brands include Fiskars and Gerber. In 2025, BA Fiskars’ net sales were EUR 522 million, and it had approximately 1,300 employees.

Read more: fiskarsgroup.com

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