Lassila & Tikanoja Oyj

“• Transition risks related to the green transition and circular economy related to regulation, financing,  • Regulation may cause changes in the pricing of energy and emissions. •  • Failure to meet the climate targets may affect the fulfilment of the loan terms. • L&T’s own climate targets, the actions aimed at achieving the targets and the separate climate targets set for the supply chain are in line with the observations made in the scenario analysis.”

Annual report 2025A · The company itself

“During the performance period 2026–2028, the earning of rewards is based on the following performance criteria: • Return on capital employed (ROCE) (30 %) during the period 2026–2028; • Revenue growth (30 %) during the period 2026–2028; • Total shareholder return (rTSR) (30 %) during the period 2026–2028; • Reduction of the carbon footprint (ESG) (10 %) during the period 2026–2028.”

Annual report 2025A · The company itself

“BP-1 - General basis for preparation of the  Lassila & Tikanoja Plc (hereinafter referred to as "L&T") is a company that offers circular economy services in Finland and Sweden. The company was established on 31 December 2025 in the partial demerger of Luotea Plc (formerly Lassila & Tikanoja plc). In the partial demerger, the circular economy businesses belonging to the group were demerged into an independent listed company, which will continue under the company name Lassila & Tikanoja Plc.”

Annual report 2025A · The company itself

“L&T participates in the competitive tendering of municipal contracts and is a significant operator in municipal   Lassila & Tikanoja may be held liable for environmental damage, which could result in significant costs and reputational damage.”

Annual report 2025A · The company itself

“Under the reforms to the Waste Act, municipalities take on a larger role in organising the collection of packaging materials and biowaste from housing properties. As a consequence of the reform, L&T’s direct customer agreements with housing properties on the separate collection of packaging waste and biowaste will be gradually transferred to municipalities for competitive bidding between 1 July 2022 and 1 July 2025.”

Annual report 2025A · The company itself

“of the Finnish waste management market will be moved out of the scope of free competition between 2024 and 2028.”

Annual report 2025A · The company itself

“The significance of the risk of fire is reduced by the fact that individual plants or production lines have  •  on how to respond to a fire or other hazardous situations. •  policies for injuries, property damage, business interruption, third-party liability, environmental damage and  Procurement risks • Rising fuel, electricity and other procurement costs could have a negative impact on L&T’s profitability. • Supply chain management, the diversification of propulsion sources and the improvement of efficiency.”

Annual report 2025A · The company itself

“The significance of the risk of fire is reduced by the fact that individual plants or production lines have  •  on how to respond to a fire or other hazardous situations. •  policies for injuries, property damage, business interruption, third-party liability, environmental damage and  Procurement risks • Rising fuel, electricity and other procurement costs could have a negative impact on L&T’s profitability. • Supply chain management, the diversification of propulsion sources and the improvement of efficiency.”

Annual report 2025A · The company itself

“Temporary additional costs related to the deployment of systems and the establishment of the operating model as well as tied-up working capital may weaken the company’s profit.   Lassila & Tikanoja operates in a people-intensive sector and failures in recruiting skilled personnel, the loss of senior managers or other key personnel or other disruptions in the availability of personnel or their work ability may have a negative impact on L&T’s business and it may not be possible to recruit and/  Lassila & Tikanoja’s operations and the services it provides are largely dependent on information networks and digital solutions, and disruptions to them, and breaches or attacks targeting them, as well as any failure of information system development projects and the lack of adequate data processing agreements, may have an adverse impact on L&T’s business and financial position and cause damage to its reputation.”

Annual report 2025A · The company itself

“Near-term risks and uncertainties General economic uncertainty may affect the level of economic activity among customers, which may reduce the demand for L&T’s services.”

Annual report 2025A · The company itself

“Lassila & Tikanoja’s business is subject to economic cycle fluctuations, and changing market conditions and fluctuations in L&T’s customers’ industries  Lassila & Tikanoja’s operating areas are highly competitive, and increased competition or failure to react to the competitive situation may result in L&T losing market share.   The Finnish Waste Act was amended in July 2021.”

Annual report 2025A · The company itself

“• The general economic development of L&T’s operating countries, changes in the competitive landscape  • Uncertainty in the operating environment slows down investments and the commercialisation of growth concepts • Weak outlook and transformation of traditional process industry in Finland.”

Annual report 2025A · The company itself

“Temporary additional costs related to the deployment of systems and the establishment of the operating model as well as tied-up working capital may weaken the company’s profit.   Lassila & Tikanoja operates in a people-intensive sector and failures in recruiting skilled personnel, the loss of senior managers or other key personnel or other disruptions in the availability of personnel or their work ability may have a negative impact on L&T’s business and it may not be possible to recruit and/  Lassila & Tikanoja’s operations and the services it provides are largely dependent on information networks and digital solutions, and disruptions to them, and breaches or attacks targeting them, as well as any failure of information system development projects and the lack of adequate data processing agreements, may have an adverse impact on L&T’s business and financial position and cause damage to its reputation.”

Annual report 2025A · The company itself

“• Transition risks related to the green transition and circular economy related to regulation, financing,  • Regulation may cause changes in the pricing of energy and emissions. •  • Failure to meet the climate targets may affect the fulfilment of the loan terms. • L&T’s own climate targets, the actions aimed at achieving the targets and the separate climate targets set for the supply chain are in line with the observations made in the scenario analysis.”

Annual report 2025A · The company itself

“The geopolitical situation involves uncertainty due to ongoing conflicts and various tariff systems.”

Annual report 2025A · The company itself

“Several ERP system deployment stages are in progress at the company. Temporary additional costs related to the deployment of systems and the establishment of the operating model as well as tied-up working capital may weaken the company’s profit.   Lassila & Tikanoja operates in a people-intensive sector and failures in recruiting skilled personnel, the loss of senior managers or other key personnel or other disruptions in the availability of personnel or their work ability may have a negative impact on L&T’s business and it may not be possible to recruit and/  Lassila & Tikanoja’s operations and the services it provides are largely dependent on information networks and digital solutions, and disruptions to them, and breaches or attacks targeting them, as well as any failure of information system development projects and the lack of adequate data processing agreements, may have an adverse impact on L&T’s business and financial position and cause damage to its reputation.”

Annual report 2025A · The company itself

“BP-1 - General basis for preparation of the  Lassila & Tikanoja Plc (hereinafter referred to as "L&T") is a company that offers circular economy services in Finland and Sweden.”

Annual report 2025A · The company itself

“BP-1 - General basis for preparation of the  Lassila & Tikanoja Plc (hereinafter referred to as "L&T") is a company that offers circular economy services in Finland and Sweden.”

Annual report 2025A · The company itself